Industrial Robots Market is expected to rise at a growth rate of 12% to US$ 55.66 Billion in 2032

By the end of 2028, the market for industrial robotics is anticipated to reach US$ 96.82 billion. The market is expanding as there is an increasing focus on improving the productivity of high-volume production lines, particularly in the production of semi-conductors and electronic devices.

Sales in the global industrial robotics market are anticipated to reach US$ 33.75 Bn by 2022, increasing at a CAGR of 19.2% over the forecast period of 2022–2028, according to Future Market Insights (FMI).

By 2022, East Asia is anticipated to represent more than two thirds of the global revenue for industrial robotics, making it the most lucrative market. Through 2028, the automotive and electronics industries are projected to hold a lion’s share of the global market based on end use category.

As per the findings of the report, the global industrial robotics market is projected to indicate substantial growth over the forecast period due to multiple driving factors such as adoption of Internet of Things (IoT) in industries and growing digitalization of manufacturing industry across geographies.

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The global industrial robotics market was valued at ~US$ 17 Bn in 2018 and is estimated to increase at a CAGR of ~18% between the forecast periods of 2019 and 2029. This growth is driven by the increasing applications of industrial robotics in the automotive industry, electrical/electronics industry, and auxiliary industry, among others.

Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of industrial robotics market in the East Asia region.

Automotive Industry to Remain Key End-use Industry of Industrial Robotics

The global market of industrial robotics has been segmented on the basis of different types of industrial robots, their multiple applications, end use industries, and regions such as North America, South Asia, Europe, East Asia, and the Rest of the World.

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Scope of the Report

By product type, the articulated robots segment is estimated to hold a significant share of the global industrial robotics market in terms of value. This has mainly resulted from the rising productivity in manufacturing processes and improving quality of products. On the basis of end use, the automotive industry is estimated to hold substantial market share of the industrial robotics market in terms of value. This is driven by digitalization of manufacturing processes. Moreover, it is expected that the application of industrial robotics in the electrical/electronics industry will be prominent throughout the forecast period.

On the basis of application, the handling operations segment is projected to consume majority share of the global industrial robotics market value. Also, the welding segment is estimated to project lucrative growth in the industrial robotics market over the forecast period.

Industrial Robotics Market by Category

By Product Type :

  • SCARA Robots
  • Delta Robots
  • Cartesian Robots/ Gantry Robots
  • Articulated Robots
  • Collaborative Robots (limited segments)
  • Dual-arm Robots

By Application :

  • Assembly/Disassembly
  • Clean Room
  • Dispensing
  • Handling Operations
  • Processing/Cutting
  • Welding
  • Painting & Coating
  • General Applications

By End Use :

  • Automotive Industry
  • Electrical/Electronics Industry
  • Rubber & Plastics Industry
  • Metal & Machinery
  • Food & Beverages
  • Plastic & Auxiliary Chemical Products
  • Auxiliary Industries
  • Bulk Commodities & Materials

By Region :

  • North America
  • Europe
  • South Asia
  • East Asia
  • Rest of the World

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Electric Motor Market expected revenue to reach US$ 40.4 Bn by 2031

The electric motor market is expected to create a stupendous growth opportunity, exhibiting year-on-year (YoY) growth of 4.2% in 2021 to total 1.2 billion units. According to the FMI analysis, demand in the DC motors segment will grow by 2.2% to 339 million units in 2021, while the AC Motors segment was up 5.1% to 837 million units.

The global electric motor market is anticipated to rise at a stable CAGR of 5.6% between 2021 and 2031 in comparison to the above 3.8% CAGR registered during 2016-2020. The surging focus on research and development in industrial focus is gaining investments that are driving the market growth in the global sphere.

As per the estimations of the Energy Association, 40% of the total energy consumed in industries is utilized to drive electric motors. At the same time, emphasis on promoting the use of high-efficiency motors is also gaining traction.

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Key Takeaways

  • The penetration of industrial robotics and automation testing in a plethora of industry verticals in the last decade is expected to spur market growth in the global sphere. The electric categories include manufacturing, food & beverage industries, and automotive.
  • Large-scale investments in small factory automation particularly in massive production plants have been growing constantly. Owing to the surging adoption of automation and robotics technology, electric motor demand will be boosted in regard to its use in drive units.
  • The growth rate of the electric motor market is estimated to grow in proportion to that of industrial automation and robotics. The residential appliances segment is also set to auger throughout the forecast period due to the increasing demand for the electric motor market.
  • Demand for low-power capacity motors is primarily used in the consumer appliances segment. The electric motor market has been perceived as a high volume-high value market.
  • In the upcoming years, the demand for the electric motor will witness significant growth with Industrial Robotics, Energy, Residential Appliances, and Municipal Water Utilities being the key growth enablers.
  • Developed as well as developing countries are expected to portray a significant growth opportunity for the product via new units as well as replacement sales. Expansion of usage scope towards untapped end-use verticals is expected to augur the growth of electric motors on a long-term basis.

Competitive Landscape

General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd. are some of the key companies profiled in the full version of the report.

Companies operating in Electric Motor Market are aiming at strategic collaborations and partnerships with other manufacturers to expand their product manufacturing capacity and address the demand of an expanding consumer pool. Manufacturers are also focusing on the expansion of their product portfolio to maintain a high customer base across the globe.

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More Insights into Electric Motor Market

  • The North American region is anticipated to dominate the global electric motor market. According to a Future Market Insights study, the U.S. is expected to be the largest market in North America and reach US$ 40.4 Bn by 2031.
  • The end-use sector of the United States is highly developed which supports the electric motor market growth. The overall industrial spending grew at a stable rate of around 4.6% in 2019 and is expected to maintain its robust pace in the future as per analytical estimates.
  • The U.S. is home to the technically advanced industrial sector in the world, making it a lucrative market for electric motor manufacturers, as it exhibits high demand for robotics and automation for industrial as well as residential applications.
  • China’s market is expected to showcase lucrative growth opportunities with nearly 5.5% CAGR through the forecast period (2021-2031). China’s Industrial sector is backed by a well-developed infrastructure, and it is largely supported by the government which is why China has the most elevated level of expenditure across the globe.
  • Germany is considered to be the world’s topmost manufacturer of pharmaceuticals due to which there is a high demand for electric motors throughout the country. By 2031, it is expected to account for over 25% of electric motor sales within Europe.

Electric Motor Market by Category

Power Output:

  • <1HP
  • 1-5HP
  • 5 – 10 HP
  • 10 -20 HP
  • 20 – 50 HP
  • 50 – 100HP
  • 100 – 300 HP
  • 300 – 500HP
  • Above 500HP

Product Type:

  • AC Motor
    • Induction Motor
    • Synchronous Motor
  • DC Motor
    • Brushed DC
    • Brushless DC

By Application:

  • Pumps
  • Fans
  • Drives
  • Compressor
  • General Machinery
  • Centrifugal Machinery
  • Grinders
  • Extruders
  • Robotics

By End Use:

  • Industrial
  • Residential
  • HVAC & Refrigeration
  • Medical
  • Municipal Water Treatment
  • Transportation

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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. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

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Transcatheter Mitral Valve Market is anticipated to be valued at ~US$ 3.3 Bn by 2032 | FMI

[250 Pages Report] As per the latest industry analysis by Future Market Insights, valuation of the global transcatheter mitral valve market was around US$ 831.1 Mn in 2021 and is projected to exhibit a CAGR of 13.5% over the forecast period. The market is expected to reach US$ 3.3 Bn in 2032.

Following the success and widespread use of transcatheter aortic valve replacement (TAVR), physician-investigators have turned their attention to percutaneous replacement of a diseased mitral valve (MV).

Attribute Key Statistics
Global Transcatheter Mitral Valve Market Estimated Size (2022E) US$ 933.9 Mn
Projected Market Valuation (2032F) US$ 3.3 Bn
Value-based CAGR (2022-2032) 13.5%
Collective Value: Top 5 Countries (2021E) 80.1%

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However, while transcatheter aortic valve replacement (TAVR) has already established itself as the gold standard for treatment of aortic stenosis (AS) in patients who are at high risk for conventional surgery, transcatheter mitral valve replacement (TMVR) is yet to reach the same level.

MV disease is more frequent than AS, and surgical treatment for degenerative mitral regurgitation is still considered to be the gold standard. TMVR may evolve as a promising treatment alternative for patients with high surgical risk who are denied surgery and for whom medical therapy is insufficient.

Transcatheter mitral valve repair is a rapidly developing field that has the potential to be embraced as a viable alternative to surgery among certain patients. The targeted section of MV apparatus helps to recognize TMVR devices.

Need to transform a transapical treatment to a fully transcatheter (transfemoral and transeptal) procedure is set to surge in the upcoming decade on the back of rising number of preclinical programs under development.

Transcatheter therapies will need to follow stringent indications due to strict patient selection criteria for each device or use multiple procedures in a single repair process for severe MV disease to attain outcomes comparable to open surgery in degenerative mitral regurgitation.

Owing to the above-mentioned factors, the global transcatheter mitral valve market is set to gain traction among industry players.

Key Takeaways: Transcatheter Mitral Valve Market

  • By product, the transcatheter mitral valve repair segment held approximately 4% of share in 2021 and is anticipated to lead in 2022-2032.
  • Based on indication, the mitral regurgitation segment generated a transcatheter mitral valve market share of around 1% in 2021.
  • By end user, the hospitals segment is expected to dominate the transcatheter mitral valve market with a projected CAGR of 6% during the forecast period.
  • North America transcatheter mitral valve market generated a share of around 9% in 2021.
  • Germany held a market share of about 2% in 2021 and is likely to remain at the forefront in the Europe transcatheter mitral valve market.

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“Development of unique transcatheter mitral valve products and growing advancements in the field of degenerative mitral regurgitation are expected to push the global transcatheter mitral valve market in the forecast period,” says an analyst of Future Market Insights.

Competitive Landscape: Transcatheter Mitral Valve Market

The transcatheter mitral valve market is consolidated with the presence of various established players across the globe. Key players are enforcing clinical evaluations of pipelined products to strengthen their market positions. They are also investing huge sums in research and development activities to generate more revenues in the global market.

  • In March 2022, Edwards Lifesciences received approval from the U.S. Food and Drug Administration (FDA) for its MITRIS RESILIA valve. It is a tissue valve replacement which is specifically designed for the heart’s mitral position.
  • In April 2020, Abbott received the CE Mark approval for its Tendyne Transcatheter Mitral Valve Implantation System and TriClip Transcatheter Tricuspid Valve Repair System under its structural heart device portfolio.

More Valuable Insights on Transcatheter Mitral Valve Market

Future Market Insights offers a unique perspective and actionable insights on the transcatheter mitral valve market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research study is based on product (transcatheter mitral valve replacement and transcatheter mitral valve repair), indication (mitral stenosis and mitral regurgitation), and end user (hospitals, ambulatory surgical centers, and cardiac catheterization laboratories) across seven key regions of the world.

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Transcatheter Mitral Valve Market Outlook by Category

By Product:

  • Transcatheter Mitral Valve Replacement
  • Transcatheter Mitral Valve Repair

By Indication:

  • Mitral Stenosis
  • Mitral Regurgitation

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

About FMI:

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

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Lead Acid Battery Market valuation will top US$ 90.5 Billion by 2032

The lead acid battery market valuation is expected to reach US$ 54.3 Billion in 2022. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2022and 2032. According to the study, the overall lead acid battery market valuation will top US$ 90.5 Billion by 2032. As per FMI, the demand for AGM batteries is expected to increase at a high pace, exhibiting a 6.2% CAGR in 2021

There also is an increasing demand from other industries for the deployment of lead-acid batteries. An increasing number of players focusing on research and development related to lead-acid batteries is anticipated to have a significant contribution to market growth in the years to come.

The call for lead-acid batteries is increasing with the rise in the volume of the car fleet in the latest years. This may be attributed to an increase in aftermarket income in normal interims for battery replacement.

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The growing requirement has led to mass production and has increased the importance of process automation in the lead-acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.

Key Takeaways from Lead Acid Battery Market Study

  • The flooded battery is projected to hold over 49% of the global market share in 2021 in terms of product type, supported by superior configurations.
  • Transportation is projected to hold over 56% of the overall market share as the leading segment in terms of application by 2031-end, supported by increasing investments in electric vehicle production.
  • China will remain a chief market, backed by rising demand from the automotive industry. It is expected to account for over 57.3% of demand registered in East Asia in 2021.
  • The market in India is set to surge at around 6% CAGR over the next ten years.
  • Germany is emerging as a key market in Europe, accounting for over US$ 2,509.4 Mn in 2021, driven by the expansion of the automotive industry.

“The lead-acid battery market is growing at a strong pace, driven largely by increasing demand for energy-efficient solutions across the automotive sector. The increasing demand for electric vehicles will create extensive opportunities for manufacturers. Key industry participants have been focusing on product diversification to offer energy-efficient solutions and gain a competitive advantage,” says a Future Market Insights analyst

Competitive Landscape

The lead-acid battery market is highly competitive at regional as well as global levels and highly consolidated in nature. These players are likely to invest in new technology developments and the expansion of their networks to maintain their market shares.

Some of the key players in this industry include but are not limited to Furukawa Electric Co., Ltd., Narada Power Source Co. Ltd., Clarion, Leoch International Technology Ltd., Enersys, Exide Industries Ltd., GS Yuasa Corporation, East Penn Manufacturing Co., Chaowei Power Holdings Limited., and others.

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Find More Valuable Insights

The research report analyzes the demand for Lead Acid Batteries. The global Lead Acid Battery market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights, the market has been analyzed based on product type, power source, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.

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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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Dental Implantology Software Market is estimated to enjoy a valuation of US$ 214.2 Mn by 2022 | FMI

[190 Pages Report] According to Future Market Insights (FMI), the dental implantology software market is predicted to grow owing to the need for faster and easier implant process. This software makes the process cheaper by reducing the time the patient needs to spend in surgery and allows the dental team to analyze all procedures before the surgery.

With a prior analysis, the dental team can make better decisions for the patient’s recovery to reduce post-surgery complications. Using dental implantology software, the dentist can more correctly by taking 3D scans and putting them into dental planning software. Hence, the demand for dental implantology software will experience significant growth during the forecast period from 2022 to 2032 in the world.

As per Future Market Insights, the global dental implantology software market was around US$ 208.7 Mn in 2021 and is projected to exhibit a CAGR growth of 2.7% over the forecast period, with an estimated valuation of US$ 278.2 Mn in 2032.

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The dental implants are used in cosmetic and aesthetic dental surgeries. Dental implants are used to fill in the gap left by a missing tooth, which leads to higher chances of other dental disorders. Hence, the demand for dental implantology software will increase with growing awareness regarding the oral health and rising demand for cosmetic dentistry across the globe.

Attributes Key Statistics
Dental Implantology Software Market Value 2021 US$ 208.7 Mn
Expected Market Value 2022 US$ 214.2 Mn
Forecast Market Value 2032 US$ 278.2 Mn
CAGR 2022-2032 2.7%
Market Share of Top 5 Countries 47.8%

Key Takeaways from Market Study

  • Design software is the leading segment as a product, and held approximately 0% of sales in 2021.
  • Dental clinics are the leading end user segment of dental implantology software with a market value share of around 4% in 2021, owing to the large number of patients visiting dental clinics for tooth replacement.
  • North America is considered the leading region with a value share of 3% in 2021, owing to the high prevalence of dental caries in the U.S.
  • Europe is expected to be the second-largest dental implantology software market owing to the improved healthcare infrastructure and technological advancements in the U.K.

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“Faster recovery rate due to better screening of dental diseases will lead to enhanced patient satisfaction. This is set to propel the sales of dental implantology software across the globe,” says an analyst of Future Market Insights.

Market Competition

Key players in the dental implantology software market are strengthening their presence by collaborating with key players in Asia Pacific market. They are also expanding their product offerings by launching new products in the market.

  • In March 2022, exocad announced its expansion in South Korea by relocating its Asia headquarters to Seoul, South Korea.
  • In September 2021, Materialise launched a dental module for Magic’s. It is an automating 3D printing preparation in dental labs.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the dental implantology software market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research study is based on the product – (planning software and design software), by end user (hospitals, dental clinics, ambulatory surgical centers, and academic & research institutes), across seven key regions of the world.

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Key Players :

  • Dentsply Sirona
  • Dental Wings Inc.
  • Blue Sky Bio
  • PLANMECA OY
  • exocad GmbH
  • Institut Straumann AG
  • ImplaStation
  • Materialise
  • Reconstruction 3D
  • DTX Studio suite (Envista)
  • GuideMia Technologies Inc
  • Zuub Inc.

Key Market Segments Covered in Dental Implantology Software Industry Research

By Product:

  • Planning Software
  • Design Software

By End User:

  • Hospitals
  • Dental Clinics
  • Ambulatory Surgical Centers
  • Academic & Research Institutes

About FMI:

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

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Social Business Intelligence Market is projected to reach a market valuation of nearly US$ 29 Bn by 2026

According to FMI, the global social business intelligence solutions market worldwide is estimated to be worth US$ 17 Bn by the 2017 end, vis-à-vis revenue from worldwide deployment. Rising at a CAGR of 6% from 2016 to 2026, the market is expected to reach a valuation of US$29 Bn by the end of 2026.

Some of the prominent players operating in the market are SAP SE, SAS Institute Inc., Logi Analytics, Inc., TIBCO Software, Inc., Alteryx Inc., MicroStrategy, Inc., Microsoft Corporation, Qlik Technologies, Inc., and Tableaue Software, Inc., notes Future Market Insights (FMI). A number of these players are focusing on big data applications emerging from various end-use industries, notably healthcare to consolidate their shares. They are exploring prospects in the development of social media tools and software. Several companies in the market are a substantial investments in research and development aimed at wearable technologies based on social business intelligence to gain a competitive edge over others.

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The various end-use verticals for the social business intelligence market are BFSI, healthcare and life sciences, consumer goods and retail, travel and tourism, IT and telecommunication, media and entertainment, and government. Of these, the BFSI sector is the leading segment as it held a major market share of 20.2% of all the verticals in 2016. The segment is anticipated to retain its dominance throughout the assessment period. However, the travel and tourism segment is anticipated to rise at higher year-over-year growth from 2017 to 2026.

Rising Ubiquity of Social Media to Bolster Demand

The growing demand for big data analytics tools for the analysis of social media, coupled with the rising ubiquity of social networks world over, is a key factor driving the market. The pressing need for next-generation analytical data generation technologies and management systems across modern enterprises is a primary factor driving the market in various regions.

The robustly rising popularity of social media among product and customer service teams, largely on account of benefits that percolate beyond marketing and promotion, is a key trend accentuating the market. The growing demand for various big data tools such as Hadoop in managing vast sets of unstructured data emanating from online and social media sites and CRM conversations is a notable trend catalyzing the demand for social business intelligence tools. This is motivated by the intensifying needs to garner data-driven insights into customer taste and preference across enterprises.

The pressing need for gaining customer insights in real-time for accelerating time-to-market is a key aspect of a fast-growing modern enterprise, necessitating the demand for social business intelligence tools. The rising adoption of cloud-based technologies and services will expectedly create exciting opportunities for market players in the coming years.

Data Security Major Concerns, Advanced Enterprise Data Operating Systems to Open up Exciting Avenues

The concern of privacy of data and their enterprise security are key factors likely to hamper the demand for social business intelligence to an extent. Nevertheless, the marked shift of enterprises workloads from on-premise to cloud is expected to allay these mounting concerns, thereby bolstering the demand for social business intelligence. In addition, the advent of advanced enterprise data operating systems has led players overcome the constraints associated with traditional database systems, notably SQL servers.

The growing popularity of Hadoop for building large-scale database has enabled enterprises manage large operational requirements. This is a welcome trend in the global social business intelligence market. Furthermore, the introduction of YARN and MapReduce has substantially expanded the capabilities of Hadoop, thereby creating lucrative avenues for market players.

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The global social business intelligence market is segmented based on:

By Deployment Type

  • On-premise
  • Cloud-based

By Size of Enterprise

  • Small Enterprise
  • Medium Enterprise
  • Large Enterprise

By Vertical

  • BFSI
  • Healthcare and Life Sciences
  • Consumer Goods and Retail
  • Travel and Tourism
  • IT and Telecommunication
  • Media and Entertainment
  • Government
  • Others

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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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Homecare Dermatology Energy-based Devices Market Analysis, Recent Trends and Regional Growth Forecast by 2028

Growing commercialization of advanced technology in homecare dermatology and frequent introduction of user-friendly dermatology services are collectively boosting the growth prospects for homecare dermatology energy-based devices landscape at a global level.

According to a newly released intelligence report by Future Market Insights, exhibiting nearly 5% year over year growth in revenue, the global homecare dermatology energy-based devices landscape is likely to be worth over US$ 550 Mn in 2020. While maximum incremental opportunity is projected for China and APEC, North America – despite being the global leader – is likely to witness moderate growth in coming years.

Rapidly growing demand for homecare devices as a result of a paradigm shift from conventional clinics to in-house, non-invasive energy treatments is prominently responsible for healthy revenue growth projections for homecare dermatology energy-based devices.

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Technological advancements in these devices are widening their application base, thereby pushing the rate of adoption further at a global level. Another strong push factor associated with homecare dermatology energy-based devices includes their availability as the OTC products.

  • Product type analysis of market landscape reveals that laser and IPL (intense pulsed light) equipment are enjoying the highest sales, whereas LED equipment is projected to emerge as the most attractive segment in homecare dermatology energy based devices space in the near future.
  • Hair removal and acne, followed by wrinkles treatment, are reportedly the most extensively sought after applications of homecare dermatology energy based devices.
  • E-commerce dominates all other distribution channels, according to the report. Hyper markets and super markets also remain among the preferred channels for product distribution.

Key Players :

  • Shenzhen Leaflife Technology Co. Ltd.
  • Dezac group ( Rio Beauty)
  • Norlanya Technology Co.
  • Home Skinovations Inc.
  • Koninklijke Philips
  • Johnson & Johnson Consumer Inc.
  • Procter & Gamble
  • Tria Beauty and Conair Corporation.

A Bird’s Eye View of the Global Landscape

“The global market for homecare dermatology energy based devices is a highly consolidated landscape, wherein the top two players collectively account for around 60% share of the market revenue. Koninklijke Philips, with more than a third of the market value share, secures the top position with its extensive portfolio of intense pulsed light devices used for hair removal,” explains a senior research analyst while offering the inclusions of the company’s recent report on the global homecare dermatology energy based devices market.

Adding further to the information about the market competition, the analyst says, “A majority of companies are prioritizing product innovations in LED, IR, and lasers segments. Moreover, a large number of market players are taking efforts for extended product reach through retail partnerships, in addition to NPD for a wider application base. Companies are also observed to be focusing on collaborations and acquisitions to reshape their product distribution strategy for better profitability”.

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FDA Approvals Are Relatively Easy

Relatively easy and faster FDA approvals for homecare dermatology energy based devices are driving improved appearance of these devices in tandem with the latest handheld gadgets, which prominently curtail the need for frequent visits to professional cosmetic treatment centers.

A recent example includes FDA clearance for Titan – the anti-aging device launched by Skinovations Inc. later in 2017.

On a similar line, North American and European markets for homecare dermatology energy based devices are witnessing remarkable adoption in recent years. FMI identifies a slew of business expansion opportunities in the aforementioned regions for manufacturers of homecare dermatology energy based devices.

Moreover, growing R&D efforts as manufacturers in the US zoom in on the production quality, is likely to shape the performance of North America’s market for homecare dermatology energy based devices.

Combination of Technologies for Better Treatment Output

Making the most of the best attributes of LED and lasers technologies, a new trend among manufacturers now involves the combination of both the technologies for manufacturing homecare dermatology energy based devices. While these devices are claimed to be effectively reducing fine lines and improving skin tone with LED, lasers enable them to be highly target specific. A recent example is of YA-MAN’s RF Beaute Photo PLUS.
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 8-years.

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Storage Area Network (SAN) Market is expand at a CAGR of 3.9% to reach US$ 26,867 Mn by the year 2029

The overall Storage-Area Network (SAN) market is expected to be valued at US$ 19,576 Mn in 2021, and to grow at a CAGR of 3.9% to reach US$ 26,867 Mn by 2029. The SAN market accounts for approximately 7% of the total state-of-the-art data storage market.

The market for storage area networks (SANs) is expected to grow as the demand for information recovery capabilities grows across various industries, including IT and telecom, BFSI, and medical care.

The banking, financial administrations, and security (BFSI), IT, and telecom industries will continue to be the primary revenue generators for the storage area network market. A SAN and load balancing enable the synchronous operation of group and expert applications. This arrangement is occasionally adopted by business-basic applications, such as financial frameworks.

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Key Takeaways of Storage Area Network Market Study

  • During the forecast period, North America is anticipated to account for a sizable portion of the global storage area network market.
  • Among all technologies, Fiber Channel (FC) is anticipated to account for a sizeable portion of the worldwide SAN market over the forecast period.
  • During the projection period, it is predicted that the hardware sector will continue to have a sizable market share in the global storage area network market. This is because SANs use high-performance Fiber Channel I/O and are made up of many hardware elements.
  • An excellent CAGR is predicted for the need for hyperscale server SAN. However, it is anticipated that over the projection period, enterprise server SAN would continue to retain a sizable market position in the global storage area network market.

Increasing Demand for Efficient Data Backup Management to Propel Sales

The conventional method of data backup involves a number of LAN-based backup and restore operations, which are frequently sluggish and have a negative influence on the overall effectiveness of the process. In contrast, data transfers effortlessly across the SAN to tape devices in a server-less data backup system (SAN method) since it does not use vital server I/O or CPU resources. Over the ensuing years, this element is anticipated to fuel the worldwide storage area network market’s expansion.

More Valuable Insights on Storage Area Network Market

With historical data from 2014 to 2021 and projections for the years 2022 to 2029, Future Market Insights provides an unbiased study of the worldwide storage area network market. For the purpose of analysing the market’s opportunities, the SAN market has been divided into seven key regions based on component (Hardware, Software, and Services), SAN type (Hypercscale Server SAN and Enterprise Server SAN), technology (Fibre Channel (FC), Fibre Channel Over Ethernet (FCOE), InfiniBand, and iSCSI Protocol), and vertical (BFSI, IT & Telecom, Energy & Utility, Government, Military & Defense, Healthcare, Manufacturing,

Competitive landscape

Many key players in SAN market are focusing on investing heavily on innovation, research, and development practices to offer different solution for various industry applications. For enhancing the presence, customer base and solution offering market players are undergoing various strategies such as partnerships, collaborations as well as acquisitions.

  • For instance, in December 2019, DataCore Software Corporation introduced vFiIO that uses software-defined storage technology to enable data to be stored, organized and managed not only independently of the underlying hardware, but also independently of the access method.

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SAN Market Outlook by Category By Component:

  • Hardware
  • Software
  • Services

By SAN Type:

  • Hypercscale Server SAN
  • Enterprise Server SAN

By Technology:

  • Fibre Channel (FC)
  • Fibre Channel Over Ethernet (FCOE)
  • InfiniBand
  • iSCSI Protocol

By Vertical:

  • BFSI
  • IT & Telecom
  • Energy & Utility
  • Government
  • Military & Defense
  • Healthcare
  • Manufacturing
  • Retail & e-Commerce
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA
  • GCC Countries

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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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
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Commercial Refrigeration Equipment Market is anticipated to reach a valuation of US$ 68.3 Bn by 2028

With a 3.9% year-on-year increase in sales of commercial refrigeration equipment in 2022, the market is expected to be worth US$ 51.8 billion by the end of the year. The global commercial refrigeration equipment market is expected to be worth US$ 68.3 billion by 2028, growing at a CAGR of 4%. (2022-2028).

In 2020, commercial refrigeration systems will account for 40% of the global refrigeration equipment market. Commercial refrigerators and freezers will see increased sales as investments in the food and beverage industry increase in the coming years.

The commercial refrigeration equipment market is expected to shift towards natural refrigerant-based systems because of the potential for large energy savings, and the implementation of stringent regulations worldwide for phasing out ozone-depleting substances, such as hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons (HCFCs).

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Witnessing an uptick of 3.4% over 2021, the worldwide sales of commercial refrigeration equipment will exceed revenues worth US$ 51 Bn by 2022 end. As indicated by a recent research study of Future Market Insights (FMI), the market for commercial refrigeration equipment will progress at a moderate CAGR over 2022 – 2029. The demand would be prominently driven by greater production of F&B goods and a preferential shift of consumers towards quick service restaurants (QSRs), at a global level.

The demand for NH3/CO2 cascade systems is also slated to go up gradually due to the advantages they offer for food processing and low-temperature distribution facilities. These benefits include low operating costs (as they use less energy per ton of refrigeration compared to other systems), lower capital and compliance costs, optimal food quality, and increased throughput.

Sustainable and energy-efficient refrigeration systems are set to become a norm across the end-use industries, which should compel manufacturers to increase their investments in R&D and product innovations. Leveraging energy-efficient technologies to offer low global warming potential (GWP) products with rich functionalities will be the ticket to capturing significant market share in the long run.

Commercial Refrigeration Equipment Market Key Takeaways

  • Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment.
  • North America and Europe would collectively account for over half of the market value share by 2029 end.
  • The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players.
  • The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely impact the market growth.
  • The higher average unit cost of freezers & refrigerators allude lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2021.
  • Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators.
  • Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2022, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

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Chinese Players Striving to Win Home Market​

In developed markets, rapid acceptance of alternative refrigerants to benefit from regulatory standards along with expansion of F&B processing industries continue to contribute to the development of the commercial refrigeration equipment market.

The growth of Asia Pacific’s commercial refrigeration equipment market was influenced by a shift of Asian eating habits towards western-style convenience food. With the ability to manufacture their own compressors, Chinese companies are gaining competitive edge to reign supreme in their home market with indigenous brands.

Competition Trends

In 2021, the top four stakeholders including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation collectively accounted for 20-25% revenue share. The emergence of a large number of small players in developing countries has resulted into price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

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Competitive Landscape

Commercial refrigeration system manufacturers are investing in the research & development of new products and featuring new launches to widen their product portfolios.

Commercial refrigeration equipment companies are also turning to mergers & acquisitions to bolster their market presence across multiple geographies.

  • In February 2022, Refrigeration Design & Service Inc., a Philadelphia-based industrial refrigeration design and build provider, was acquired by The Kelvin Group. This is part of Kelvin’s vision to build a collaborative group of independent industrial and commercial services companies in the U.S.

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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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
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Get Business Insights on the Electro Optical System Market from 2022 to 2032

The global electro optical system market is expected to be valued at US$ 11,724.2 Million in 2022, rising to US$ 17,806.2 Million by 2032. During the gauge period of 2022-2032.

The market is expected to grow at a CAGR of 4.3% between 2016 and 2021, but the CAGR was estimated to be 3% between 2016 and 2021. Growing interest in health and security, as well as the growing need for a custom-made security system, are expected to aid the market during the forecast period.

Rising global concern for safety and security are major factors influencing the global growth of the electro optical system market. The defence and military sectors are the primary applications for electro optical systems. These sectors currently account for more than 25% of the demand for electro optical systems.

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Electro optical system comprises of electrical devices (like LEDs, Lasers) with an extended part of material physics that operates by the proliferation and communication of light. Electro optical system are known for providing distinctive capabilities to enable the commanders to make decisions at a very fast pace by providing effective situational awareness, intelligence gathering and targeting action.

Global Electro Optical System Market: Market Dynamics

The main action integral to armed forces are intelligence, surveillance, target acquisition and reconnaissance (ISTAR) capabilities which are provided by electro optical system like multi spectral day and night imaging sensors, nigh vision goggles(NVG), laser rangefinders(LRF), forward looking infrared(FLIR) systems, and infrared targeting pods. These capabilities lead to market growth for electro optical system in defense and military applications.

The electro optical system enable flexible deployment of targeted military force based on accurate and timely surveillance and reconssiance with an increased affordability combined with interoperability and mission critical functions suited to military departments. Also the naval forces worldwide implement in electro optical system in new and diverse ways such as EO fire control directors and IR search and track systems.

The continued research in the next several years is expected to manufacture of next-generation sensors for the weapons and body armor, and communications equipment.  Also Airborne EO Systems, and Land & Sea-Based EO Systems are the other two areas of deployment for electro optical system expected to flourish in the near future.

With continued research and development of advanced technologies, countries will continue to invest in advanced electro optical system to maintain their competitive position worldwide.

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However, high implementation cost and long-term return on investment are some of the factors that can restrain the growth of Electro optical system market.

Optical imaging is basically the use of visible light to obtain detailed images of an entity which is required to be observed keenly while non-imaging is the use of optimal light illuminated on an object under observation.

Asia Pacific has dominated the market and is expected to have the fastest growth owing to increased surveillance in the region with advanced stage of energy management solutions. North America an early adopter of technology is expected to witness a healthy CAGR with Europe to witness moderate growth in the forecast period.

Global Electro Optical System Market: Competition Landscape

The key vendors in the global Electro Optical System market are Lockheed Martin, Instro, L3 Communication Holdings, Northrop Grumman, BAE Systems Plc, DRS Technologies. Collaborating with other players and service providers in the building energy management market is the key strategy followed by major market vendors to gain competitive edge.

Recent Developments in the Global Electro Optical System Market Include:

  • In September 2020, Lockheed Martin Corporation, headquartered in Maryland, U.S announced that it had delivered 700th Electro-Optical Targeting System for the F-35 Lightning II.
  • In April 2022, L3 Harris Technologies, announced to design and build a wide-field-of-view electro-optical system to assist surface warships from modern enemy anti-ship cruise missiles under terms of a potential half-billion-dollar contract.

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Global Electro Optical System Market: Segmentation

Global Electro Optical System market is segmented on the basis of systems, application platform, and region.

Global Electro Optical System Markey by Systems:

  • Imaging Electro Optical System
  • Non-Imaging Electro Optical System

Electro Optical System Markey by Application Platform:

  • Air Electro Optical System
  • Land Electro Optical System
  • Sea Electro Optical System

Electro Optical System Market by Region:

  • North America Electro Optical System Market
  • Latin America Electro Optical System Market
  • Europe Electro Optical System Market
  • Asia Pacific Electro Optical System Market
  • Middle East & Africa Electro Optical System Market

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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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