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Hyaluronic Acid Products Market exhibiting growth at 6.1% CAGR through 2030 | FMI

[284 Pages Report] Hyaluronic acid products have been gaining the momentum backed by massive use in therapies intended at the treatment of osteoarthritis, vesicoureteral reflux (VUR), and dry eye diseases, besides diverse aesthetic applications. Future Market Insights (FMI) in a new study has forecast the global market for hyaluronic acid products to surpass US$ 2.7 Bn by 2021.

As a result, the demand of minimally invasive treatment for diseases such as osteoarthritis and VUR stemmed. Manufacturers are introducing advanced intra-articular hyaluronic acid injections (IAHA) injections for the minimal invasive pain management with minimal pain, short recovery time and shorter hospital stay period.

The rising demand of the minimally invasive treatment for the pain management of osteoarthritis and other chronic ailments have pushed the key players to introduce innovative hyaluronic acid products into the market. The conventional treatment regime for chronic diseases was often invasive, involving certain amount of risk for patients with medical-comorbidities. These treatment methods often resulted in long hospital stays.

FMI has forecast dermal fillers to remain key application segment, accounting for over 35% of sales in 2021. The dermatological application of hyaluronic acid also has seen surge with the introduction of advanced dermal fillers, masks, and serums for application in restorative therapy and wrinkle augmentations.

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Major Key Players:

Anika Therapeutics, Inc.
Fidia Farmaceutici S.p.A.
Sanofi
Ferring B.V.
Viatris Inc.
Croma-Pharma
Seikagaku Corporation
Zimmer Biomet
Lifecore Biomedical, LLC
LG Chem
Bioventus LLC
Smith & Nephew plc
Shanghai Jingfeng Pharmaceutical Co., Ltd.
Nestle (Galderma)
Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
Allergan Plc.

“Increasing prevalence of chronic inflammatory diseases, increasing geriatric population, and advancements in hyaluronic acid products in terms of better efficacy and cost-effectiveness, are expected to drive the hyaluronic acid products market,” says the FMI Analyst

The global hyaluronic acid products market is set to expand its scope in the forecast period, as a result of rising prevalence of chronic diseases and expanding geriatric population. In addition to this, the rising demand for minimally invasive therapies and advancing aesthetic procedures and products are propelling the growth of the market.

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Key Takeaways from Hyaluronic Acid Products Market Study

The hyaluronic acid products market will expand at a CAGR of 6.1% between 2020 and 2030
The U.S. will emerge as one of the leading markets, accounting for over 73% of sales in North America
The U.K. will remain one of the key markets within Europe, registering 7.7% Y-o-Y growth in 2021
The demand for Germany and France will continue rising at a positive rate
Japan will emerge as a leading market in East Asia, followed by China and South Korea

Who is winning?

Manufacturers in the hyaluronic acid products market are focusing on advanced IAHA injections, dermal filler, and other products. The delivery of hyaluronic acid to the target site has been made effective, precise, and minimally invasive. This is intended at ensuring more effective pain management for various chronic and inflammatory diseases such as osteoarthritis. Many manufacturers are focused on developing advanced, effective and affordable IAHA injections that come with advanced targeted delivery and minimal invasiveness.

For instance, Synvisc by Sanofi is effective for osteoarthritis pain. The advanced range of dermal filler launched by Galderma of Nestlé, named Restylane covers a wide spectrum dermal application for volume restorative therapy and Restylane Lyft is indicated for the wrinkle augmentation of the backside of the hand.

Valuable Insights into Hyaluronic Acid Products Market

Future Market Insights, in its new report, provides an unbiased analysis of the hyaluronic acid products market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the hyaluronic acid products market based on product type (single cycle injection, three cycle injection, five cycle injection), application (osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and specialty clinics). Regionally the market covers North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East and Africa.

Hyaluronic Acid Products Market by Category

Product

Single Cycle Injection Products
Three Cycle Injection Products
Five Cycle Injection Products

Application

Osteoarthritis
Ophthalmic
Dermal Fillers
Vesicoureteral Reflux

Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Speciality Clinics

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Region

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

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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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Vaccines Market size is expected to reach US$ 120 Bn by 2032 – Get Insights FMI

[332 Pages Report] The global vaccines market size is expected to reach US$ 120 Bn by 2032, growing at a 10% CAGR over the forecast period. The advent of existing and re-emerging infectious diseases, expanding industry reforms to promote vaccine R&D, growing public funding for developing drugs, and increasing immunization emphasis are all driving the growth of vaccines.

Attributes	Details
Vaccines Market CAGR (2022 – 2032)	10%
Vaccines Market (2032)	US$ 120 Bn
Vaccines Market Attraction	Advanced technology and cost efficiency are increasing the vaccines market growth.

Experts warn that future pandemics and outbreaks might be even more deadly than COVID-19. Diseases could arise primarily based on pathogens into human, animal, or plant populations for terrorist goals. The expanding presence of infectious diseases will ensure a continuous and growing demand for vaccines in the coming years.

Furthermore, the advent of new diseases will result in increased R&D spending, a robust pipeline, and new vaccination prospects for significant populations.

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Due to their large patient populations and rising disposable incomes, emerging regions such as India, China, and Southeast Asia provides an attractive potential for the vaccination business. Major market companies have been enticed to engage in these economies because of their growth potential.

As per emerging vaccines market trends, various organizations and institutions, such as GAVI, are also working to improve vaccine use in impoverished countries, for example, by distributing vaccines at reasonable prices. As a result, these countries have become vital growth hotspots in the vaccine market.

Another vaccines marketing strategy is the rise in low-cost vaccinations. To expand the reach of immunization programmes in these economies, companies are investing in and focusing on creating inexpensive, low-cost vaccines.

Vaccines have a greater storage and distribution cost than any other pharmaceutical product because they require specific equipment and monitoring systems. Vaccine quality might be harmed by a lack of suitable storage and delivery facilities. As a result, vaccines market share is being stifled by the heavy price of vaccine production and storage.

Key Takeaways:

The high prevalence of infectious illnesses, government organizations’ continued growth in vaccine development, market participants’ expanding R&D investments, and mandated reporting are some of the essential drivers propelling the sales for vaccines globally.
The substantial proportion of this category in the vaccines market is ascribed to the release of new multivalent vaccines, increased funding by critical players in multivalent vaccine R&D, and technological innovations in multivalent vaccine development.
The vaccines market report states that the influenza category is expected to grow fastest. The global consumption of influenza vaccines is supported by rising knowledge of the necessity of influenza vaccination, increased government initiatives to prevent influenza, and more clinical studies.
The vaccines market trends state that intramuscular vaccine delivery is expected to grow the fastest. The convenience of intramuscular injection propels the segment, and the fast absorption of vaccines is provided in this way.

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“The high frequency of diseases, increased government immunization campaigns, technological advancements in the vaccine business, a solid vaccine pipeline, and the advent of the COVID-19 pandemic are all factors to consider,” opines an FMI analyst.

Comparative View of Adjacent Vaccines Market

Attributes	Vaccines Market	Veterinary Vaccines Market	COVID-19 Vaccines Market
CAGR (2022 – 2032)	10%	7%	-15%
Market Value (2026)	US$ 67 Bn	US$ 12 Bn	US$ 1.4 Bn
Growth Factor	Increasing focus on immunization of the populace to underpin growth.	Demand for animal-based plant product generates high adoption of veterinary vaccines.	Rising investments towards COVID-19 vaccine development to drive significant growth.
Opportunity	Investments from governments to support vaccine development.	Increasing initiatives taken by governments to improve animal health creates opportunity for market players.	Increasing focus on improving the efficiency of COVID-19 vaccines.
Key Trends	Development of vaccines with low response time to get better exposure.	Rising focus on technological innovations to offer opportunities.	Investment towards R&D activities to underpin opportunities.

Competitive Landscape:

Sanofi (France), Daiichi Sankyo Co., Ltd. (Japan), Merck & Co., Inc. (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), CSL Limited (Australia), Emergent BioSolutions Inc. (US), Pfizer Inc. (US), and AstraZeneca PLC have the highest market share by the company as highlighted in the global vaccines market report.

In August 2021, GlaxoSmithKline plc filed a Biologics License Application (BLA) with the US Food and Drug Administration (FDA) for their investigational vaccine PRIORIX, which seeks authorization to be used against measles, mumps, and rubella (MMR) in the United States. The vaccine was first licensed in Germany and is now approved in more than 100 countries around the world.
INOVIO Pharmaceuticals announced in June 2021 that it is expanding its collaboration with Advaccine Biopharmaceuticals Suzhou Co Ltd. to conduct a Phase 3 trial for their investigational COVID-19 DNA vaccine INO-4800, in patients aged 18 and up in several countries, particularly in Latin America and Asia.

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Vaccines Market Key Segments
By Technology:

Conjugate Vaccines
Inactivated and Subunit Vaccines
Live attenuated Vaccines
Recombinant Vaccines
Toxoid Vaccines
Viral Vector Vaccines

By Type:

Monovalent Vaccines
Multivalent Vaccines

By Route of Administration:

Intramuscular & Subcutaneous Administration
Oral Administration
Other routes (Intranasal, Intradermal and Percutaneous)

By Disease Indication:

Influenza
Pneumococcal Diseases
Combination Vaccines
HPV
Herpes Zoster
Meningococcal Diseases
Rotavirus
MMR
Varicella
Hepatitis
DTP
Polio
Covid-19
Other Disease Indications (Cancer, Dengue, Tuberculosis, Typhoid, Japanese Encephalitis, Rabies, Yellow Fever, and Allergies)

By End User:

Pediatric Vaccines
Adult Vaccines

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Sports Betting Market Size & Share | Trends Analysis Report for 2022 to 2032

The sports betting market is expected to be worth USD 84.58 billion in 2022, rising at a CAGR of 10.2% to USD 223.40 billion by 2032.

The sports betting market growth of connected smart smartphones, changes in the South Asian economies’ digital landscape, and an increase in the popularity of online betting among millennial are the main factors influencing the sports betting market future trends as well as sports betting market adoption trends.

The Covid-19 phase, which has been in effect for the last two years, has pushed younger people to spend more time on smartphones, which has favoured adoption of sports betting. The younger population is primarily concentrated in Asian countries. During lockdowns that had a positive effect on the sports betting market key trends and opportunities, consumers gravitated most toward the internet platform to solve their monetary, social, and psychological issues.

The proliferation of wireless connectivity and the expansion of digital infrastructure are driving the sports betting market. Consumer behaviour has changed as a result of the increased use of smartphones also surging the demand for sports betting, including how people bet on games.

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Additionally, as there are more sporting competitions and leagues, there is a rising demand for sports betting resulting in boosted sales of sports betting.

The most bets are placed on sports like football, basketball, baseball, hockey, cricket, boxing, and auto racing. Sports betting include non-athletic events like eSports and horse racing.

Additionally, as internet usage has increased, there have been more investments made in online platforms, which has led to sports betting market growth.

KEY TAKEAWAYS:

The online platform segment, which is predicted to dominate the sports betting market with growth at a CAGR of 12.6% through 2032, led the sports betting market in terms of platforms.
While the eSports betting segment is expected to grow at the fastest CAGR of 14.8% through 2032, the fixed odds wagering segment currently holds a sports betting market share of over 25%.
Football holds a 23.0% sports betting market share in terms of sports type and is anticipated to grow over time.
The second-largest sports betting market share was held by the horse racing industry, which is projected to expand at a CAGR of 10.3% through 2032.
Through 2032, sports betting market growth in the basketball and baseball segments is anticipated to be close to 10%.
Around 30.0% of revenue of sports betting market was generated in the Asia Pacific region, which is also predicted to have the highest CAGR over the forecast period.
During the forecast period, the Europe region is expected to exhibit a CAGR of nearly 11%.
In 2022, Europe held a 37% sports betting market

COMPETITIVE LANDSCAPE:

New market research report on sports betting says that 888 Holdings Plc; Bet365; Betsson AB; Churchill Downs Incorporated; Entain plc; Flutter Entertainment Plc; IGT; Kindred Group Plc; Sportech Plc; William Hill Plc are among the legacy players vendors.

The research offers a comprehensive competition analysis of these top competitors in the sports betting market, including sports betting market growth, sports betting market share, sports betting market key trends and opportunities and important sports betting market statistics.

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RECENT DEVELOPMENT:

LAUNCH:

A new website on a sports betting platform powered by blockchain technology was launched by Bitgame, a sports betting platform operator with headquarters in Poland, in May 2021. To give users a seamless and engaging experience, the new website combined sports betting and blockchain-secured cryptocurrency.

ACQUISITION:

For US$1.2 billion in cash ($1 billion) and Endeavor Group Holdings Inc.’s Class A common stock ($200 million), Scientific Games sold OpenBet to the US-based entertainment and Sports Company in September 2021.

Key Segments

By Platform:

Offline
Online

By Betting Type:

Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-mutuel
eSports Betting
Others

By Sports Type:

Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others

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Electronic Weighing Scale Market Size, Share & Growth Analysis Report 2022 to 2032

Market analysts anticipate that the electronic weighing scale will generate US$ 4,775.3 million in 2022 and US$ 8,084.9 million by 2032. Sales of electronic weighing scales are anticipated to increase over the projected period of 2022-2032 at a CAGR of 5.4 percent. The demand for electronic weighing devices in the commercial and residential sectors is what’s driving growth. The market grew at a CAGR of 5.2 percent from 2016 to 2021.

Report Attribute	Key Statistics
Growth Rate (2016-2021)	5.2% CAGR
Expected Market Value (2022)	US$ 4,775.3 Million
Anticipated Forecast Value (2032)	US$ 8,084.9 Million
Projected Growth Rate (2022-2032)	5.4% CAGR

Systems are used to measure the weights of materials on electronic weighing scales. All industries employ these systems to weigh materials from the raw material stage to the stage of the finished product. Because weighing scales are versatile and offer great precision, industries are becoming more and more dependent on them.

The operation of an electronic weighing scale involves two steps. In the first, the weight is sensed, measured, and converted into electrical data, which is then processed and readably displayed on an LCD screen.

Large industries are shifting from manual weighing machines to advanced electronic weighing scale machines, and also large investments are being done in the manufacturing industries to get automated processing equipment.

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Electronic Weighing Scale: Drivers and Restraints

Weight measurement of materials is one of the most significant factors in any industry, be it in recycling, material handling or any food industry. There are many advantages offered by electronic weighing scale machine as compared to traditional machines like the compact size, high dependability, high accuracy, flexibility of weighing multiple loads, and advanced systems which provide online processing.

Such benefits are substantially driving the market growth of electronic weighing scale market. Moreover, these electronic weighing scale machines have automatic prompting facility which helps the operator to enter the parameters and to operate these machines very little training is required. Such factors are greatly elevating the usage of electronic weighing scale and increasing its market.

One of the major factor preventing the growth of electronic weighing scale market is that these scales require electricity to operate and without the supply of electricity these machines are of no use. Thus, for regions that run short of electricity may not adopt these scales in their industries. Also, the cost of electronic weighing scales is more when compared to traditional mechanical or spring scales. Thus these factors act as major restraining factors in electronic weighing scale market.

Electronic Weighing Scale: Competitive Landscape

The key players in the market of electronic weighing scale market are Contech Instruments Ltd., Essae Group, Aczet Pvt. Ltd., A&D Weighing Inc., Adam Equipment Inc., ATRAX Group NZ Ltd., Avery Weigh-Tronix Ltd., D Brash & Sons, Ltd., Easiweigh Ltd. and Yes Yes Technologies.

Regional Overview

By geography, the market of electronic weighing scale is largest in Asia Pacific since many large companies like Contech Instruments Ltd., Essae Group, Aczet Pvt. Ltd., are investing in electronic weighing scale manufacturing due to the benefits offered like the flexibility of weighing multiple loads, high precision as compared to mechanical scales.

North America region is also expected to grow since many companies in this region are investing in the manufacturing of various type of electronic weighing scale for multiple applications.

The report covers an exhaustive analysis on

Global Electronic Weighing Scale Market Segments

Global Electronic Weighing Scale Market Dynamics
Historical Actual Market Size, 2012 – 2016
Global Electronic Weighing Scale Market Size & Forecast 2017 to 2027
Supply & Demand Value Chain for Electronic Weighing Scale Market
Global Electronic Weighing Scale Market Current Trends/Issues/Challenges
Competition & Companies involved in Electronic Weighing Scale Market
Electronic Weighing Scale Technology
Value Chain of Sales Performance Management solutions
Global Electronic Weighing Scale Market Drivers and Restraints

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Electronic Weighing Scale: Segmentation

Key Segments Profiled in the Electronic Weighing Scale Market Survey

By Application:

Electronic Weighing Scale
Electronic Industrial Counting Scale
Electronic Retail Printer Scale
Electronic Weighing Balance

By Class:

Class I
Class II
Class III
Class IIIL
Class IIII

By Scale:

Table Top
Personnel
Electronic Crane
Electronic Platform
Pocket Electronic
Table Electronic

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Embedded Business Intelligence Market Share, Size, Trends – 2022 to 2032 | Future Market Insights, Inc.

The market for embedded business intelligence is expected to be valued at US$ 25,600.0 Million in 2022, with a CAGR of 11.1% to be valued at US$ 73,244.0 Million from 2022 to 2032. The high acceptance of self-administration investigation is credited with development.

To collect and analyse data, update data, and finally run queries to make business decisions, traditional business analytical tools must be supported by a number of other systems. Embedded analytics software paints a picture of the business landscape and allows for more informed decision-making.

Embedded Business Intelligence is the incorporation of self-management business intelligence apparatuses into commonly used business applications. A few types of embedded business intelligence apparatuses extend usefulness to cell phones to ensure that the disseminated labour force has indistinguishable access to indistinguishable BI for better consistent collaboration. Business intelligence devices in large business applications maintain an improved client experience through continuous examination, representation, and intelligent revealing.

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Embedded Business Intelligence Market: Drivers and Restraints

Presently, software vendors are adopting embedded business intelligence and analytics for improving their overall operational efficiency and ROI is turning to be the major driving factor of the embedded business intelligence market. The large adoption of web-based and cloud based BI is another major factor driving the market growth in positive manner.

Time consuming implementation and high cost are the major restraints faced by most of the vendors in embedded business intelligence market.

Global Embedded Business Intelligence Market: Regional Outlook

On the basis of geography, Embedded Business Intelligence market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the Embedded Business Intelligence market in North America is expected to dominate during the forecast period owing to the rising implementation and demand for business analytics tools in large enterprises. North America region is expected to be followed by Western Europe, and APAC.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Global Embedded Business Intelligence Market: Market Segmentation

Global Embedded Business Intelligence Market can be divided into four segments, on the basis of deployment, services, vertical and region.

Market Competition

Some of the key participants present in the global Embedded Business Intelligence market include IBM, Oracle, Microsoft, SAP, SAS, Google, AWS, Salesforce, MicroStrategy, Teradata, DOMO, Vphrase dotdata, Amlgo Labs, Pentation Analytics, Hitachi Vantara, Outlier, ConverSight AI, Element Data, Alteryx, and ThpughtSpot, among others.

Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as IBM, Oracle, Microsoft, SAP, SAS, Google, AWS, Salesforce, MicroStrategy, and Teradata account for a considerable market size, several regional level players are also operating across key growth regions, particularly in North America.

Recent Developments:

In June 2020, IBM launched Watson Works to address challenges of returning to workplaces. Watson Works is a curated set the of products that embed Watson AI model and applications to help companies navigate many aspects of the return-to-workplace challenge due to lockdowns put in place to slow the spread of COVID-19.
In June 2020, Microsoft and SAS announced an extensive technology and go-to-market strategic partnership. As part of the partnership, both companies will migrate SAS’ analytical products and industry solutions to Microsoft Azure as the preferred cloud provider for SAS Cloud.

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Key Segments Profiled in the Embedded Business Intelligence Industry Survey

Embedded Business Intelligence Market by Deployment:

On-premise Embedded Business Intelligence
Embedded Business Intelligence SaaS

Embedded Business Intelligence Market by Services:

Professional Embedded Business Intelligence Services
Support Embedded Business Intelligence Services

Embedded Business Intelligence Market by Vertical:

Embedded Business Intelligence for BFSI
Embedded Business Intelligence for Healthcare
Embedded Business Intelligence for Media and Entertainment
Embedded Business Intelligence for Retail
Embedded Business Intelligence for Telecom
Embedded Business Intelligence for Food & Beverages
Embedded Business Intelligence for Other Verticals

Embedded Business Intelligence Market by Region:

North America Embedded Business Intelligence Market
Latin America Embedded Business Intelligence Market
Europe Embedded Business Intelligence Market
Asia Pacific Embedded Business Intelligence Market
Middle East & Africa Embedded Business Intelligence Market

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Facial Recognition Market is reach a valuation of US$ 22.5 Bn by 2032

According to a recent study done by FMI, the  Facial Recognition Market  is expected to reach US$ 22.5 billion by 2032, up from US$ 5.2 billion in 2022, expanding at a high CAGR of 15.7%. This study explains that increase in government investments in emerging technologies of CCTV cameras in most public places to minimize criminal activities and terrorist attacks and to enhance public safety boosts the facial recognition market growth.

Factors such as the rise in demand for face detection systems to enhance safety and security, and increase in applications in physical security and intelligent signage are expected to propel the growth of the global facial recognition market during the forecast period. Further, the report opines that the technological advancements such as 3D recognition systems and cloud-based solutions are anticipated to augment the market growth in the coming years.

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Key Takeaways from the Market Study

Global Facial Recognition market to be valued at US$ 5.2 Bn by 2022-end By Component, Software Tools Segment expanded at a CAGR of 16.8% until 2021 Law Enforcement application ruled the Facial Recognition market with a CAGR of 16.7% until 2021. China to account for the highest value share of US$ 1.6 Bn of global market demand for Facial Recognition market in 2032

Competitive Landscape

Players in the global Facial Recognition market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In March 2022, Aware, a biometrics software and services company, partnered with MIRACL to expand its cloud-based biometric authentication technology. The partnership is a through mutual reseller arrangement whereby each company can both sell each other’s products and integrate them within their own product lines, quickly bringing to market password-free login paradigms delivering superior security and simplicity for users.  In March 2022, SALTO’s acquisition of Cognitec Systems initiates strong partnership of business synergy and innovation. This acquisition is expected to meet market requests for adding face recognition and artificial intelligence technologies to the company’s renowned electronic access control and ticketing solutions. In addition, both companies appreciate a similar innovative work environment and corporate culture.

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More Insights on the Facial Recognition Market

Future Market Insights offers an unbiased analysis of the global facial recognition market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the facial recognition market, the market is segmented on the basis of component type, application, and vertical across five major regions.

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Industrial Automation Market is to reach a valuation of US$ 77 Bn by 2032

The global Industrial Automation Market is expected to have a significant CAGR of 7% during the forecast period to reach a valuation of US$ 51 Bn by 2026, up from US$ 36 Bn in 2021.

The efficient flow of information across multiple units in an industry allows for the most efficient conversion of raw materials to completed goods, emphasizing the importance of the connected enterprise system, which is a primary driver for the industrial automation market.

The industrial automation market growth can be attributed to rising demand for real-time data analysis across geographies and increased adoption of cutting-edge technology across end-use industries to improve performance.

The significance of predictive maintenance and asset management solutions, which provide users with better visibility into their equipment condition, is accelerating the demand for industrial automation solutions.

The efficient flow of information across different units in an industry allows for the most efficient conversion of raw materials to finished goods, highlighting the significance of the connected enterprise system, which augurs well for industrial automation market future trends.

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Industrial automation solutions adoption trends are likely to be favoured by governments across the world as they are focusing on the development of process and distinct industries by launching a variety of initiatives and plans backed by investments to boost productivity.

Manufacturers can gain real-time access to plant floor data enabled by industrial computing and automation technologies, which helps them centralize business data and multi-plant operations, thereby surging the sales of the industrial automation solutions.

As per the industrial automation market study, the industrial automation market size is estimated to be about US$ 51 Bn by 2026.

Key Takeaways:

By sensor, inductive sensors are expected to dominate the market due to automatic welding system and their capabilities such as high mounting flexibility robust metallic detection.
By servo, servo motors are expected to grow at the fastest CAGR during the forecast period, as market participants launch new servo motors for automation systems.
AC motors are expected to see widespread adoption by motor type due to their low maintenance and low cost.
By industry, the discrete automation industry is likely to lead the market as the sub-segment, automotive and heavy manufacturing industries, is likely to drive the demand for automation solutions.
By component, the software segment is expected to have a significant market share during the forecast period since it seamlessly allows businesses to streamline their manufacturing processes.
By hardware, Robots are expected to grow at a rapid pace due to technological advancements and the emergence of Industry 4.0, with market players introducing advanced robots for automation purposes.
The Middle East and Africa market for PAM and adoption of industrial automation solutions are expected to grow at the fastest rate, as PAM improves decision-making and turnaround time by tracking manufacturing defects.

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“The Asia Pacific region controls most of the global industrial automation market. The market is expanding positively and is expected to continue doing so on account of smart manufacturing and automation, and integration with the current manufacturing environment. Furthermore, the growing number of application areas, as well as the strong presence of industrial automation services companies and the developing economies of Asian countries, all contribute to the market’s growth.” says an FMI researcher.

Competitive Landscape:

The industrial automation market appears to be highly competitive. Several well-established machine automation technologies providers form a solid competitive landscape.

These market participants attempt to maintain their positions by investing in collaboration, mergers and acquisitions, partnerships, product/technology launches, and expansion.

These strategies assist market participants in gaining a more significant industrial automation market share and meeting their expansion plans. They are primarily concerned with new technology advancements in industrial automation.

The market would be subjected to constant innovations and developments, intensifying competition among top industrial automation system integrators.

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Recent Developments in the Industrial Automation Market include:

Siemens AG and SAP SE have expanded their collaboration to deliver a new service and asset lifecycle management solution. The collaboration aims to connect plant floor operations, remote condition monitoring and Siemens industrial automation products development via digital twins with original equipment manufacturers to facilitate collaboration across the asset lifecycle.
Plex Systems, a provider of smart manufacturing solutions, was purchased by Rockwell Automation Inc. for USD 2.2 billion. Plex Systems’ cloud-native smart manufacturing platform will be used to broaden industrial cloud offerings.

Key Segments

By Deployment:

Industrial Robots
Machine Vision System
Process Analyzer
Field Instruments
Human Machine Interface (HMI)
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring

By Component:

Supervisory Control And Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Manufacturing Execution System (MES)
Industrial Safety
Plant Asset Management (PAM)

By End-use Industry:

Oil & Gas
Chemicals
Pharmaceuticals & Medical Devices
Food & Beverages
Energy & Power
Automotive
Machine Manufacturing
Water & Wastewater Treatment
Electronics & Semiconductors
Metals & Mining
Others

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Key Questions Answered in the Report

What is the Growth Outlook for the Industrial Automation Market?
How much will be the Size of the Global Industrial Automation Market?
What is the Historical Growth Analysis of the Industrial Automation Market?
Which is the Leading Industrial Automation Market?
Which is the Leading Segment of the Industrial Automation Market?

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Switchgear Market is projected to expand at a 5.7% CAGR-FMI

Global Switchgear sales are set to be valued at US$ 72.44 Bn in 2021 and is expected to have a stable long-term projection, according to latest insights from Future Market Insights (FMI). An ESOMAR-certified research and consulting firm. The report has forecast the global switchgear market to grow at nearly 6.9 % CAGR during 2021-2031.

The report offers analysis of growth trajectory exhibited by the market in 20+ high-growth countries. It offers detailed insights on into factors that will be driving growth over the coming decade.

The demand for switchgear was moderate in the 2020 however with it had to experience a brief period of lackluster growth on account of the unprecedented COVID-19 outbreak. Supply chain disruptions witnessed by end-use sectors such as T&D utilities, commercial, industrial and residential had restrained growth to an extent. However, considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive.

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As T&D utilities sector estimated to witness healthy growth rate in the forecast period. According to the report, T&D utilities are expected account for nearly 46% of switchgears sold in 2021. Besides this, the demand is expected to surge in commercial, industrial, and residential sectors enabling growth in the market.

Key Takeaways

After a period of negative growth, the market will show impressive improvement, registering above 6% y-o-y growth in 2021
The U.S. is expected to account for over 60% of sales in North America
After a period of negative growth, the U.K. will exhibit above 6% y-o-y growth in 2021, emerging as a strong market for switchgears
Expansion of the energy and utilities sector will enable growth in Germany and France
Government initiatives are expected to support growth in Japan and South Korea

“Increase in demand for advancement in the switchgear and advent of smart grid are expected to give impetus to switchgears. The use of the voltage fluctuator is very common in the heavy as well commercial sectors. It is used in the transmission and distribution of energy to consumer and for running machineries. The need of the energy is increasing day by day, which has been aiding the overall expansion of the switchgear market.” says FMI analyst.

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Switchgear market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate on research and development activities and capitalize on opportunities especially in the field of T&D Utilities. Their key focus will however remain meeting requirements of consumers. Collaboration with local players and developing new technology in the form of smart grid and advanced switchgear are key strategies adopted by the market players.

Competitive Landscape

The market is fragmented, with key players accounting for approximately one fifth of the market share. These companies are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are ABB Ltd., Siemens AG, Schniender Electric, Havells India Pvt. Ltd., Hyundai Electric and Energy System, Fuji Electric, Powell Industries, etc.

Switchgear Market By Category

By Component Type

Power Distributor Switch Breaker
Switch Disconnector
MCCB
HRC Fuse
Earth Switch
MCB

By Voltage Type

Low Voltage (less than 1kV)
Medium Voltage (1kV to 75kV)
High Voltage (75kV to 230kV)
Extra High Voltage (230kV to 500kV)
Ultra-High Voltage (above 500kV)

By Construction Type

Outdoor
Indoor
Others

By Insulation Type

Air Insulated Switchgear
Gas Insulated Switchgear
Oil Insulated Switchgear
Vacuum Insulated Switchgear

By End User

T&D Utilities
Commercial
Industrial
Residential

By Region

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

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product innovation & Diversification

4.3. Marketing and Brand management

4.4. Supply Chain Management

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Automotive Semiconductor Market is projected to surge to US$ 94.99 Bn by the end of 2030

The global automotive semiconductor market is currently valued at $54.9 billion and is expected to reach $94.99 billion by the end of 2030. From 2022 to 2030, it is anticipated that shipments of automotive semiconductors would grow at a CAGR of 7.1 percent.

The automotive semiconductor market is growing remarkably quickly. Future Industry Insights (FMI) projects that the global automotive semiconductor market would expand at a 7.1 percent CAGR between 2022 and 2030, notwithstanding the difficulties brought on by the continuing pandemic. The market for automotive semiconductors is anticipated to reach US$ 54.9 billion in 2022 and US$ 94.99 billion in 2030. The top market participants want to take advantage of the growing demand for electric vehicles and technological safety features like the Advanced Driver Assistance System (ADAS).

Based on historic research and current data, the market is forecast to showcase steady growth as a result of the rising demand for electric vehicles, automotive safety standards and modern automotive technologies across various countries.

While the market growth is accelerating quite steadily, the COVID-19 pandemic has impacted the manufacturing sectors. However, despite disruptions witnessed in production, market players are expected to focus on research initiatives, which will enable growth in the market in the coming years. For instance, Broadcom Inc. has come up with a wide variety of automotive solutions like vehicle connectivity and networking, optical isolation and sensing, wireless communications and LED lighting in the current year.

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According to the report, the increasing production of vehicles and surging demand safety features have been resulting in the incorporation of electrical systems in the automotive industry. The overall growth curve of the market tends to remain upward during the forecast period.

Some of the key takeaways from the report are highlighted below:

The global automotive semiconductor market will grow steadily at a CAGR of 7.0% during the forecast period of next ten years (2020 to 2030)
Passenger vehicles to continue leading the market among vehicle type-wise segments
The market value of the automobile semiconductors for the applications such as body, safety, power train and others to experience an overall growth by 7.0% CAGR during the forecast period
The automobile semiconductors for the micro-components (processors) to remain the dominant component of the global automobile semiconductor market. As per the research, the segment is about to gain an accelerated growth of 7.0 % CAGR during the forecast period (2020-2030)
Region-wise Europe and South East Asia to exhibit the highest growth. North America and Latin America to hold the leading market position

Covid-19 Impact Analysis

Due to the COVID-19 pandemic there is global decline in the automotive demands as a result of the manufacturing units’ shutdowns, drop in GDP and other factors. The market growth is to decline further in the upcoming months.

The electrical and digital vehicles being the major source of the automotive semiconductors demands, the global automotive semiconductor market is about to decline by 5% in 2020. Despite of the complete shutting down of the production plants during the lock down, the overall year-to-year growth of the automotive semiconductor market is expected to be 5%-8% by 2021.

Who is winning?

In this report, Future Market Insights has thoroughly researched the various strategies which are being used by major businesses in the automotive semiconductor market. As the unlimited scope and opportunities subsides, the leading market players like Intel Corporation, NVIDIA Corporation, Samsung Semiconductor etc. is taking strategic actions in order to keep them in the top positions globally.

Some of the leading competitors in the global automotive semiconductor market-

Intel Corporation
Samsung Semiconductors
NXP Semiconductors
NVIDIA Corporation
Broadcom Inc. (AVGO)

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More Valuable Insights on Automotive Semiconductor Market

In its latest report, Future Market Insights offers an unbiased analysis of the global automotive semiconductor market, providing historical data for period of 2015-2019 and forecast statistics for the period of 2022-2030.

Key Segments of Automotive Semiconductor Industry Survey

Automotive Semiconductor Market by Component:

Micro Components (Processors)
Memory Devices
Logic
Optical & Sensors
Analog ICs
Discrete Devices

Automotive Semiconductor Market by Vehicle Type:

Automotive Semiconductors for Passenger Vehicles
Automotive Semiconductors for Light Commercial Vehicles
Automotive Semiconductors for Heavy Commercial Vehicles

Automotive Semiconductor Market by Application:

Body
Safety
Telematics & Infotainment
Power Trains
Chassis

Automotive Semiconductor Market by Region:

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

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Identity and access management market is expected to register a CAGR of 12.5%

The global market for Identity & Access Management stands at a net worth of US$ 12.9 Bn in 2022 which is predicted to rise at a CAGR of 12.5% over the forecast period to attain a projected market valuation of 26.1 Bn by the end of 2028.

Future Market Insights (FMI) recently published a market research report, titled, Identity & Access Management Market – Global Industry Analysis 2013 – 2021 and Opportunity Assessment 2022-2028. According to the report, the Identity and Access Management Market is set to witness strong Y-o-Y growth in 2022, at approximately 9% over 2021.

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With an estimated incremental opportunity of over US$ 17 billion between 2022 and 2028, the global market for identity and access management is likely to observe an impressive growth outlook in years to come. Rapid increase in cybercrime prevalence is necessitating effective and efficient IT security measures, which is primarily driving the identity & access management market.

Public Domain, IT & Telecom, and Finance & Insurance – Key End Use Industries

While several business verticals have been focused on heavy investments in physical identity management, it is highly likely that operators in public domain, finance and insurance sectors, and IT and telecom will continue to account for significant revenue shares in global market for identity and access management, in the near future.

As suggested by the report, the collective share of public administration, finance and insurance, and IT and telecom companies in the global market value roughly equates 60%. Healthcare and media industries are positioned as the next lucrative end use segments for providers of IAM services and solutions.

Approximately 60% of Demand Is Generated by Large Enterprises

As the demand for next-generation security solutions is constantly on rise, as reported in the recent past, the demand for identity and access management solutions will remain higher when compared to that for identity and access management services. Currently, a wide range of identity and access management solutions accounts for over 60% of the total market value, as indicated by FMI’s study.

Among multi-factor authentication, single sign-in, access security, and directory management, a majority of consumers will continue to generate demand for directory management and access security.

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On-premise deployment of identity and access management solutions currently accounts for more than 55% of the overall global IAM deployment. Moreover, FMI’s analysis has envisaged a massive incremental opportunity of over US$ 17 billion for cloud-based IAM, over 2022-2028. On the other side, the cloud-based deployment of identity and access management will reportedly see an average yearly growth at over 10%, over the course of coming years.

With incessantly rising rate of implementation of advanced and next-generation technologies such as AI, machine learning, and advanced biometric technologies at enterprises, the demand for reliable identity and access management services and solutions is also increasing. FMI’s analysis concludes that a considerable number of enterprises are following the trend of adoption of identity and access management. While large enterprises continue to account for a substantial share of around 60% of the overall demand generated for identity and access management, the report has highlighted rapid growth in the market value share of SMEs.

Key Providers to strategize on Integration of Next-gen Technologies

The regional evaluation of identity and access management market reveals that North America will remain dominant in the long run owing to rapidly strengthening base of next-generation technological advancements. China, however, on the other side, has recently earned the title of one among the world’s most connected countries. According to FMI’s analysis, China’s identity and access management market is an important investment pocket for IAM services and solutions providers. Europe will also be one of the target markets for participants in the identity and access management landscape, which the report has attributed to favorable promotional support from European governments to adoption of advanced security systems.

Some of the key companies competing in the global identity and access management market research report include BeyondTrust, Bomgar (Lieberman Software Corporation), CA Technologies, Core Security, CyberArk, Dell, ForgeRock, Gemalto, Hitachi ID Systems, IBM Corporation, and Microsoft Corporation. The report has covered in-depth strategic profiles of some of the most prominent market players.

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