Market Research Blog – Page 9465 – New Product Development

Accounting Software Market 2022 Expectations & Growth Trends Highlighted Until 2032

According to a recent report by Future Market Insights (FMI), the Accounting Software Market is expected to surpass a valuation of US$ 14.1 Bn at a CAGR of over 5.8% through 2032. The Market is estimated at US$ 8.0 Bn by the end of 2022. Software type segment comprises of Commercial of the Shelf, Enterprise Accounting Software, Custom Accounting Software, Reconciliation, and Tax Management. Enterprise accounting software is projected to reach a valuation of US$ 5.2 Bn by 2032 with a projected growth rate of 6.8% through the forecast period.

Different organizations are executing enterprise accounting software since they help the board perform business exercises in a solitary system. ERP is a prominent segment of prominent software, and an ERP system contains various modules that address unequivocal business needs.

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Several organizations have been implementing enterprise accounting software since they assist with carrying out resource management and coordinate all business activities in a single system. ERP is a prominent section of enterprise software, and an ERP system comprises different modules that address explicit business needs. ERP system does not require a wide range of tools to handle the various needs of different departments, as it has an integrated solution multiple tasks can foresee in a single platform.

As enterprise business grows, the need of automating complex data and as the reporting strategies will increase and the monitoring of assets is very much required, and in these scenarios, enterprise accounting software is prominently useful. The accounting and fund management capacities and abilities intrinsic in ERP arrangements give real-time information to the departments which boost decision-making effectively.

Key Takeaways from the Accounting Software Market Study

Enterprise accounting software is expected to hold the largest share in the component segment and is expected to grow at a CAGR of 6.8% in forecast period.
The market in the U.S. is projected to account for a CAGR 7.0% from 2022 to 2032.
Software as a Service is expected to emerge as the fastest-growing segment with market value of US$ 9.2 Bn in 2032 and registering a CAGR of 6.8% from 2022 to 2032.

“Global revenue through the offices of certified public accountants is expected to swell by US$ 1 Bn between 2022 and 2024; carrying enormous opportunity for accounting software market” says an FMI analyst.

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Who is winning?

Leading players of Accounting Software Market are focused in implementing for tracking and recording the fund inflow and outflow. Previously, accounts were managed manually and recorded every transaction in a physical book called ledgers. Accounting software replaces these records and permits the organization to record their fund transactions with the software.

Major players present in the Accounting Software Market industry are Infor, Microsoft Corporation, MRI Software, LLC, Oracle, Sage, SAP SE, Workday, Zeta Global among others.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global Accounting Software Market, presenting historical demand data (2016-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Accounting Software Market based on Deployment (Software as a Service, On-Premise, Hybrid) Software Type (Commercial of the Shelf, Enterprise Accounting Software, Custom Accounting Software, Reconciliation, Tax Management) Application (Payroll Management Systems, Billing & Invoice System, Enterprise Resource Planning Systems, Time & Expense Management Systems, Others(Recurring Billing Software, Small)) Enterprise Size (Large Enterprise, Small and Medium Enterprise) Industry (Banking Financial Services and Insurance, Telecom and Information and Technology, Manufacturing, Construction, Wholesale Distribution, Non-Profit Organization, Chemicals, Food and Beverage, Others) across five major regions.

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Global Accounting Software Market by Category

By Deployment:

Software as a Service (SaaS)
On-Premise
Hybrid

By Software Type:

Commercial of the Shelf
Enterprise Accounting Software (ERP)
Custom Accounting Software
Reconciliation
Tax Management

By Application:

Payroll Management Systems
Billing & Invoice System
Enterprise Resource Planning Systems
Time & Expense Management Systems
Others(Recurring Billing Software, Small)

By Enterprise Size:

Large Enterprise
Small and Medium Enterprise

By Industry:

Banking Financial Services and Insurance
Telecom and Information and Technology
Manufacturing
Construction
Wholesale Distribution
Non-Profit Organization
Chemicals
Food and Beverage
Others

By Region:

North America
Latin America
Europe
Asia Pacific
MEA

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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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A2P Messaging Market is Expected to Surpass a Valuation of US$ 98.3 Billion by 2032 | Report by FMI

According to a recent report by Future Market Insights (FMI), the A2P Messaging Market is expected to surpass a valuation of US$ 98.3 Bn at a CAGR of over 4.0% through 2032. The Market is estimated at US$ 66.1 billion in 2022.

BFSI A2P messaging is a type of message traffic in which an individual receives a message from any bank and financial foundation. BFSI A2P SMS helps with accomplishing a large number of customers and it has a wide extension as customers are keen to receive text messages each time they pull out or move funds.

A2P SMS helps the BFSI sector to partner and build a solid network with the clients by aiding and figuring out the client needs, declaring the synopsis of their exchanges, and their venture portfolio leftovers. Similarly, speedy help is expected to the clients, particularly the individuals who are having a cell phone, solid internet, and related application.

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A2P SMS helps the BFSI area to associate and construct a strong network with the customers by helping and sorting out the customer needs, announcing the summary of their transactions, and their investment portfolio remainders. Likewise, quick service is anticipated by the customers, especially those who are having a smartphone, strong internet connectivity, and related application. A2P SMS is exceptionally viable in BFSI as it permits sending out confirmation SMS, warning SMS, and alerting the customer by sending anti-fraud detection SMS. Mainly, the growing demand for A2P messaging in BFSI is driving the growth of the A2P messaging market worldwide.

Key Takeaways from the A2P Messaging Market Study

A2P Platform is expected to hold the largest share in the component segment and is expected to grow at a CAGR of 3.6% in forecast period.
The market in the U.S. holds a CAGR of 3.6% from 2022 to 2032.
Cloud segment is expected to emerge as the fastest-growing segment, registering a CAGR of 3.2% from 2022 to 2032.
A2P messaging is having a broader scope in the government and private organisation.

“A2P messaging has wide range of applications in different organisations related to various services has propelled the A2P messaging market in a positive note.” says an FMI analyst.

Who is winning?

Leading players of A2P Messaging Market are focused in implementing the service in the promotion and marketing sector, customer relation management services. A2P messaging is a critical instrument and administration that has a long life in front of it to contact crowds straightforwardly. To proceed with the development there are layers of safety required.

Key players present in the A2P Messaging Market industry are AT&T, Sinch, Infobip, Comviva, Bics, Tata Communications, Genesys, Global Message Services(GMS), Monty Mobile, China Mobile among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global A2P messaging market, presenting historical demand data (2015-2021) and forecast statistics for the period from 2022-2032.

Global A2P Messaging Market by Category

By Component:

Platform
A2P Service

By Deployment Mode:

Cloud
On-premises

By Application:

Authentication Services
Promotional and Marketing Services
Customer Relationship Management Services
Pushed Content Services
Interactive Messages
Others

By SMS Traffic:

National
Multi-country

By End User:

BFSI
Retail and E-Commerce
Hyperlocal Business
Healthcare
Travel and Hospitality
Others

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5G Market in Aviation 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2032

According to a recent report by Future Market Insights (FMI), the 5G Market in Aviation is expected to surpass a valuation of US$ 7.8 Bn at a CAGR of over 26.4% through 2032. The aviation industry is focused on small cells because of the better range and the quality of a 5G network. Small cells are low powered cellular radio access nodes that can operate in different spectrums with a range of 10 meters to a few kilometres. This is an important method to increase quality, connectivity and resilience.

The aviation industry is focused on the small cells because of the better range and the quality of 5G network. Small cells are low powered cellular radio access nodes that can operate in different spectrums with a range of 10 meters to a few kilometres. This is an important method to increase quality, connectivity, and resilience.

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Inside the airport small cells have wide range of technical and economic advantages because they maximise the reuse of the spectrum. Small cells integrate with the Wi-Fi as the spectrum connectivity is very faster. 5G technology is widely used in aviation platforms mainly in airports, drones, and aircraft repairing.

The speed of 5G technology is largely dependent on the frequencies used, with the use of new frequencies one can send messages to the congested areas, which can be used for the tracking purpose. By using the above methodologies the missing airplane can be contacted and used to identify the regions. Owing to these applications, the aviation industry is expected to largely benefit through the implementation of this technology.

Key Takeaways from the 5G market in aviation Market Study

Enhanced Mobile Broadband is expected to hold the largest share in the technology segment. Enhanced Mobile Broadband is a vital point for the fastest connection in the 5G technology.
The U.S. holds a growth of CAGR 25.9% from 2022 to 2032.
The small cell segment is expected to emerge as the fastest-growing segment, registering a CAGR of 25.8% from 2022 to 2032.

Who is winning?

Leading players of 5G Market in Aviation are focused in developing the 5G infrastructure in the airports for the better connection and to access the log data virtually. For regulating and reducing the passenger traffic 5G market in aviation industry is used.

Key players present in the 5G market in aviation industry are Ericsson, Nokia, Cisco Systems, Panasonic Avionics Corporations, Huawei Technologies Co. Ltd., Gogo Llc, Anuvu, OneWeb, Aeromobile Communication, Smartsky Network, Inseego Corp and Intelsat among others.

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Market Segments Covered in 5G Market in aviation Industry Analysis

By End-use:

5G Infrastructure for Airport
5G Infrastructure for Aircraft

By Communication Infrastructure:

Small cell
Distributed Antenna System

By Technology:

Enhanced Mobile Broadband
Fixed Wireless Access
Ultra-Reliable Low Latency Communications/ Massive Machine Type Communications

By Application:

Airport Operations
Aircraft Operations

By Region:

North America
Europe
Asia Pacific
MEA
Latin America

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Integrated 3D Radar Market 2022 Outlook, Current and Future Industry Landscape Analysis 2032

Integrated 3D Radar Market is an estimated CAGR of 12.7% during the projected period, the integrated 3D radar market share is expected to reach US$ 55 billion by 2032, finds a recent report published by FMI. The study finds that the rising demand for reflects the adoption of integrated 3D radar.

Sales of integrated 3D radar are expected to rise significantly. In addition to this, sales of integrated 3D radar are rising on account of US$ 27.9 Bn by 2026. Increasing sales of integrated 3D radar are also projected to contribute to the growth of the integrated 3D radar market share.

Integrated 3D radar technology is used to monitor and detect views and information, and they are an important element of any defence arsenal. Even under adverse weather situations, integrated 3D radars give more precise location and height parameters and are progressively replacing standard 2D radars.

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The market for Unmanned Aircraft Vehicles (UAVs) has grown in tandem with the sales of integrated 3D radar. The emergence of network-centric warfare and electronic warfare techniques by defence organisations as a result of the growing need for intelligence, surveillance, and other capabilities, as well as geopolitical instabilities in the Middle East, is expected to boost the global integrated 3D radar market.

Manufacturers in the integrated 3D radar market get a big platform from which to serve the whole demand for integrated 3D radar. The worldwide sales of integrated 3D radar are seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for integrated 3D radar more accessible to customers.

Key Takeaways:

Increased R&D activities in the field of military simulation and rising defence expenditure in emerging economies are opportunities for the integrated 3D radar market, as total world military expenditure rose to around US$ 1739 billion in 2017, primarily due to increased spending by many countries such as China, India, Saudi Arabia, and others.
In addition, firms like Vayyar Imaging have created new evaluation kits that make it easier to design, integrate, and scale integrated 3D radar image sensing for better application.
Because of the high production of combat technologies and the monitoring of meteorological conditions in this region, which is prone to natural disasters like cyclones, floods, and hurricanes, the United States offers a strong potential demand for integrated 3D radar.
In Europe, there has been significant market growth, owing to increased government activities to deploy technologically advanced surveillance systems and some European governments encouraging the implementation of innovative radar systems in cars to assist drivers in better localization of nearby objects, thus contributing to the European Union’s goal of reducing road fatalities.
The rising aerospace sector, surveillance of global threats, and the advent of nuclear weapons having governments in this area have forced the acceptance or deployment of additional integrated 3D radar at a quick rate in emerging economies such as China, India, Malaysia, and others.

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Competitive Landscape

Northrop Grumman Corporation, Indra Sistemas, Raytheon Company, Thales Group, BAE Systems PLC, Airbus Defence and Space, Honeywell International Inc., SAAB Group, ASELSAN AS, Rheinmetall AG, ELTA Systems Ltd., and others are among the prominent competitors participating in the integrated 3D radar Market.

Thales finalised the acquisition of Aveillant in November 2017. Customers will be able to benefit from a new capability that complements the company’s new radar surveillance product as a result of this purchase.
Raytheon Company was awarded a foreign military sales (FMS) contract by the US Air Force in January 2018 to run the surveillance radar programme. The transaction was for USD 333.4 million.

Key Segments:

By Component

Hardware
Software
Services
Consulting
Installation & Integration
Maintenance

By Frequency Band

HF-UND VHF-RADAR
C-Band (UHF-Radar)
D-Band (L-Band Radar)
E/F-Band (S-Band Radar)

By Industry

Automotive & Public Infrastructure
Energy and Utilities
Government

By Platform

Airborne
Ground
Navel

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By Region

United States
United Kingdom
China
Japan
India

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Downstream Processing Market to be worth US$ 72.3 Bn by 2032 | Future Market Insights

The market for downstream processing is anticipated to grow at a CAGR of 11.3% between 2022 and 2032, reaching a market valuation of US$ 72.3 Bn by the end of 2032. The global downstream processing market size was valued at US$ 22.0 Bn in 2021 and is anticipated to enjoy a valuation of US$ 24.9 Bn by the end of 2022.

Downstream processing is used to manufacture antibiotics, antibodies, hormones, vaccines and also used for the production of industrial enzymes. In downstream processing, the purification and recovery of biosynthetic products is done that are derived from natural sources such as tissues of animals and plants.

The downstream processing market demand is fuelled by the ever growing demand for biopharmaceuticals and increasing R&D spending on the development of such products. However, the high cost of the instruments involved in downstream processing and a dearth of skilled workforce is hampering the growth of this market.

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Forecast Highlights on Global Downstream Processing Market

As per the forecast of Future Market Insights, the filters product type segment is slated to touch a value of nearly US$ 5,700 Mn in the year 2022. This represents a robust CAGR during the assessment period of 2017-2022. The filters product type segment is estimated to account for more than one-fifth of the revenue share of the product type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
As per the forecast of Future Market Insights, the contract manufacturing organizations segment will reach a value of nearly US$ 5,500 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The contract manufacturing organizations segment is forecasted to account for more than one-third of the total revenue share of the end users segment by the end of the year 2017 and is expected to lose in market share by 2022 as compared with the year 2017.
As per the forecast of Future Market Insights, the monoclonal antibody production segment is slated to reach a value of about US$ 8,300 Mn in 2022. The monoclonal antibody production segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the monoclonal antibody production segment.
Future Market Insights forecasts the gel chromatography segment to exhibit a compound annual growth rate (CAGR) of nearly 15.0% from 2017 to 2022.

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The report has also included the profiles of some of the leading companies in the downstream processing market like Sartorius Aktiengesellschaft, Repligen Corporation, Merck & Co Inc., Thermo Fisher Scientific, Inc., Eppendorf AG, General Electric Company, Corning Incorporated, 3M Company, Lonza Group Ltd. and Danaher Corporation.

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

Market Taxonomy

Product Type:

Chromatography Columns and Resins
Membrane Adsorbers
Single-use Products
Consumables and Accessories

End Users:

Biopharmaceutical Manufacturers
Contract Manufacturing Organizations (CMOs)

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Applications:

Monoclonal Antibody Production
Vaccine Production
Insulin Production
Immunoglobulin Production
Erythropoietin Production
Other Application

Technology:

Gel Chromatography
Ion Exchange Chromatography
Affinity Chromatography
Hydrophobic Interaction Chromatography
Tangential Flow Filtration
Centrifugation
Others

Region:

North America
Latin America
Europe
Japan
Asia Pacific excluding Japan
Middle East and Africa

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Radial Compression Devices Market is reaching US$ 504.0 Mn at a gracious rate of 9.0% by the year 2031

According to a recent market study by Future Market Insights (FMI), the global radial compression devices market is predicted to reach US$ 504.0 Mn by 2031, valued at US$ 232.5 Mn in 2022.

A radial compression device is a band that is placed around the wrist to lessen the risk of radial artery blockage following invasive cardiac operations. This device is used to stop bleeding following an angiography or angioplasty procedure.

In recent years, the global market for radial compression devices has greatly evolved. These have been strengthened by the development of technology that accelerate the time it takes to reach hemostasis, enhance the process, and lower the risk of radial artery occlusion (RAO). RAO concerns have been a major source of worry when accessing the transracial artery for cardiac catheterization, resulting in the development of the radial compression device market.

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“Growing number of percutaneous coronary intervention procedures (PCI), acceptance of compression devices for surgical and diagnostic cardiology interventions, new product launches and approvals – leading to greater availability in both established and emerging economies are factors driving the growth of radial compression devices market.”

Furthermore, the advantages of radial access in a percutaneous coronary intervention (PCI) procedure are expected to drive the market growth. Radial access allows patients to move more quickly, the incision is smaller, and the chances of infection at the site are much lower than with trans-femoral access.

Key Takeaways from Radial Compression Device Study:

Band/Strap based products provides rigid wrist support, and improved patient comfort which leads the segment to account for the maximum share of 8% in 2021, expanding at 9.7% CAGR during the forecast period.
Disposable devices accounted for 92.9% of the market share in 2021 indicating highest demand by usage segment due to ease in use and cost effective and being mainly used in gaining and maintaining the hemostasis of the radial.
With the increasing diagnosis rather than surgical intervention the diagnostic intervention, by application held the largest share of 50.5% in 2021 and is expected to grow with the same trend by 2031.
North America held the largest share of 40.5% of the global radial compression devices market in 2021 indicating the growth due to geriatric population and growing demand for advanced medical technology in North America.

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Who is winning?

The key market players covered by FMI include leading companies of radial compression devices are Terumo Corporation, Merit Medical Inc., Abbott Laboratories, Vascular Solution, Advanced Vascular Dynamics, Conmed B.V., Beijing Demax Medical Technology, Teleflex Incorporated, Forge Medical Inc., TZ Medical Inc., Semler Technologies, MedPlus Inc., Lepu Medical, Cardinal Health, and Vygon.

Some of the leading manufacturers in the radial compression devices market are working to develop their technologically advanced product in order to improve the efficacy and safety profile for patients. Interventional cardiologists and radiologists in the healthcare industry profit from continuous technological advancements made by few of these players. Furthermore, manufacturers are also focusing on mergers and acquisitions with global expansion objectives, thereby, enhancing their market presence.

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global radial compression devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on radial compression devices segment based on Product (Band/Strap based radial compression devices, knob based radial compression devices, plate based radial compression devices), Usage (Reusable, disposable), Application (diagnostic intervention, surgical intervention), end user (hospitals, independent catheterization labs, ambulatory surgery centers, specialized centers) across seven major regions.

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Radial compression devices Market by Category

By Product:

Band/Strap based radial compression devices
Knob based radial compression devices
Plate based radial compression devices

By Usage:

Disposable Devices
Reusable Devices

By Application:

Diagnostic intervention
Surgical intervention

By End User:

Hospitals
Independent Catheterization Labs
Ambulatory Surgery Centers
Specialized Centers

Why Future Market Insights?

Comprehensive analysis on evolving purchase pattern across different geographies
Detailed insights of market segments and sub-segments for historical as well as forecast period
A competitive analysis of prominent players and emerging players in the keyword market
Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

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Trash Rack Cleaning Machine Market Report Perspective with Study of Leading Players 2032

Trash rack cleaning machines (TRCM) are intended to remove logs, trash, debris (trunks, branches, grass, leaves, etc.) accumulated at the trash racks, which restrict the flow of water. Trash rack cleaning machines are precisely designed in order to remove all kind of debris, maintain water flow, provide optimum environmental compatibility and minimise head losses. These machines find applications in hydro and thermal power plants where the constant flow of water towards turbines is of prime concern.

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For instance, in a hydro power plant, efficiency is directly related to head losses, owing to which proper cleaning of the trash rack is a top priority. Trash rack cleaning machines have several key features, such as robustness, flexibility, multifunctional design, high reliability and high operability, among others. Generally, hydraulic trash rack cleaning machines are preferred as compared to cable operated machines and are designed as per requirements in the application area. These tailor-made cleaning machines help optimize the performance of power plants.

There is an increase in the demand for electricity from industrial, commercial and residential sectors, owing to which the governments of several countries have taken initiatives to increase capacity and restructure existing power stations to improve efficiency. Thus, restructuring of existing plants and emergence of new hydro & thermal power projects will help drive the trash rack cleaning machine market. Moreover, there is an increase in the number of water treatment and distribution plants across the globe wherein the separation of debris from flowing water is a primary step. For the same, trash racks are employed and need to be periodically cleaned, which is expected to drive the demand for trash rack cleaning machines.

Regional Outlook

The global trash rack cleaning machine market is mainly dominated by Europe, followed by Asia Pacific. In Europe and Asia Pacific, existing as well as upcoming hydro & thermal power projects will help drive the market over the forecast period. The Asia Pacific trash rack cleaning machine market is expected to grow with a significant CAGR over the forecast period. The North America trash rack cleaning machine market is expected to register substantial growth over the forecast period, owing to the high investment in the power & energy industry and in infrastructure development for water distribution networks. Latin America and Middle East & Africa Trash rack cleaning machine markets are expected to grow steadily over the forecast period.

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Regional analysis includes:

North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Trash Rack Cleaning Machine Market: Segmentation

Based on the type, the global trash rack cleaning machine market can be segmented into:

Hydraulic lifting
Cable Operated

Based on the mode of operation, the global trash rack cleaning machine market can be segmented into:

Manual
Semi-automatic
Fully Automatic

Based on the sub-type, the global trash rack cleaning machine market can be segmented into:

Single arm
Double arm
Column
Telescopic
Double Piston

Based on the mounting, the global trash rack cleaning machine market can be segmented into:

Stationary
Mobile

Based on the application area, the global trash rack cleaning machine market can be segmented into:

Hydro Power Plants
Pumping Stations
Others

Trash Rack Cleaning Machine Market: Market Participants

Examples of some of the market participants in the global trash rack cleaning machine market, identified across the value chain include:

General Mechanical Works Pvt. Ltd.
Künz GmbH
Lukas Anlagenbau GmbH
OSSBERGER GmbH + Co
BRAUN Maschinenfabrik Gesellschaft m.b.H
API SpA
Enerquip AS
Münster Apparatebau GmbH
Poolmeccanica Lorenzon Srl
Mavi Deniz Co.
Lakeside Equipment Corporation
Haseeb Waqas Engineering Ltd.
Texmaco Rail & Engineering Ltd.
Ghiggia Ingegneria d’Impianti srl

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.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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Orthopedic Insole Market to grow at a rate of 10.4% by 2031 | Get Customized Reports

The orthopedic insole market size is expected to reach at US$ 4.9 Bn by 2021 and to grow at 10.4% CAGR through 2021 – 2031.

The rising prevalence of various conditions affecting foot and overall health has been driving orthopedic insoles sales. Doctors have realized that a lot of physical problems can be rectified by modifying shoes. Back pain, bad posture, and flat feet, among other things, can all be fixed through the feet. The National Institutes of Health lists several foot issues for which custom-made orthopedic shoes are prescribed.

Custom foot orthotics are specially made to fit the wearer’s prescription specifications, considering the specific medical condition, the assessment of limb length and the measurements of legs and feet.

This makes them more effective and efficient compared to mass-produced prefabricated foot orthotics which can be easily purchased from malls or drugstores. Custom orthotics encourage natural, preferred motion so that there is no strain on the feet. In instances where customers require unique footwear for medical reasons, not all style requirements can be met. However, a skilled shoe craftsman can work with customers to design a fashionable as well as functional style.

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Sustainability Concerns Impacting Orthopedic Insoles Sales

Sustainability is the new hot topic in the footwear industry, after decades of fast fashion and superfluous production chains. Along with customization, eco-friendly materials and ethical production are the other emerging trends.

With brands constantly launching new products, collections & designs, sustainability is one among many deciding factors for brand value. Sustainable orthopedic insoles have been promoted by the release of several eco-friendly designs produced from recycled post-production foam.

For instance, with its first insole back in 1997, OrthoLite introduced eco-friendly products engineered with game-changing technology that repurposed rubber waste. At Superfeet, sustainability has been incorporated into its latest product offering, the Me3D series. Me3D offers fully customized insoles produced from a 3-D scan that is then 3-D-printed to exact measurement (minimizing waste) as part of a collaboration with HP Fitstation.

Orthopedic insoles purchase pattern is dependent on the material, sustainability quotient and purpose. Functional orthopedic insoles are very effective in alleviating symptoms and establishing proper alignment. According to the American Academy of Podiatric Sports Medicine, soft materials such as Neoprene, various open- and closed-cell foams or similar cushioning materials may be used in conjunction with functional foot orthoses to provide both support and comfort.

Developing products with innovative and new designs and styles is one of the most common trends observed in the industry. This change in consumer buying preference has encouraged the players in the market to stimulate innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period.

In terms of insole type, prefabricated orthopedic insoles dominate the market. Prefabricated insoles are preferred for use by patients with diabetes and neuropathy. The forecast trend, however, reflects a promising growth scenario for custom orthopedic insoles.

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Key Takeaways from the Orthopedic Insoles Market Study

In terms of value, orthopedic insoles sales will significantly rise, exhibiting 10.4% CAGR between 2021 and 2031
Higher prevalence of obesity in the U.S. will enable it account for nearly 85% of sales in North America
Demand in U.K. is expected to rise considerably, facilitating y-o-y growth at a little above 6% in 2021
Both Germany and France are expected to offer highly lucrative opportunities for growth
Increasing focus on health and wellness will drive orthopedic insoles sales in Japan and South Korea

Impact of COVID-19 & 2020 Market Analysis

During the COVID-19 pandemic outbreak and because of the lockdown, orthopedic companies were unable to operate across the world which in turn impacted Orthopedic insoles demand severely. Moreover, there have been travel restrictions which possibly inflicted an adverse impact on the companies’ results of operations. However, since the resume of market, orthopedic insoles manufacturers started offering their customers various offers on prefabricated Orthopedic insoles to compensate for the already occurred losses. Above all, various strict guidelines have been imposed by the government to be followed by the Orthopedic insoles companies as a mandate in this pandemic situation.

Who is winning?

A few key players operating in the orthopedic insoles market are Reckitt Benckiser Group PLC, Otto Bock SE & Co. KGaA, Bauerfeind aG, Mile High Orthotics Lab, Inc., Stable Step, LLC, Cascade Dafo, Inc., Birkenstock Digital GmbH, Steeper, Inc., A.Algeo Limited, Peacocks Medical Group, Aetrex Worldwide, Inc., Superfeet Worldwide, Inc., Digitsole, and Allied OSI Labs, among others.

The players are aggressively investing in product development with an aim to gain a competitive advantage. Besides this there is considerable focus on recent technologies. For instance, Covestro shared in 2019 that it has been focusing on the development of 3D printed insoles made from thermoplastic polyurethane (TPU). Such developments are expected to bode well for the market.

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Orthopedic insoles Market by Category

Insole Type

Prefabricated
Custom

Base Material Type

Polymer
Plastic
Rubber
Carbon Fiber
Silicone

Consumer Orientation

Men
Women
Kids

Sales Channel

Direct
Indirect
- Hypermarkets/ Supermarkets
- Departmental Stores
- Multi-Brand Stores
- Specialty Stores
- Exclusive/ Franchised Stores
- Online Retailing
- Others

Region

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

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Edtech Market is forecast to grow at a prolific CAGR of 14.5% during the forecast period between 2021 and 2031

According to Future Market Insights (FMI), the demand registered in the Edtech market will increase at a healthy CAGR of 14.5% during the forecast period (2021-2031).

The overall sales in the Edtech market are expected to reach the valuation of ~US$ 74, Bn by the end of 2021. As per FMI, rapid technological advancements and introduction of learning through entertainment have increased the adoption of Edtech worldwide.

As standardization is difficult while working with multiple sites, digital learning helps individuals to access content at any time of the day. It can also be accessed at any time in any part of the globe.

With new innovative tools or practices being launched in the digital technology, online learning is helping learners adopt new changes efficiently. Hence, learning management software (LMS) is gaining a wider acceptance globally.

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The LMS helps in managing the learning process and creating an engaging learning environment for adding more functionalities to enhance the learning capacities. Hence, companies are using LMS to make their employees better trained, and more knowledgeable about products and services.

Key Takeaways

By component, the hardware segment is anticipated to account for the leading share during the forecast period. However, the software segment is estimated to grow at a CAGR of 16.7% through 2031.
By end user, the academic institution segment is anticipated to increase at a CAGR of 16.7% between 2021 & 2031.
The market in U.S. is expected to expand at a CAGR of around 11.2% through 2031.
In India, Edtech market is estimated to grow by a CAGR of nearly 22.8% over the next ten years.
Edtech market in Japan is expected to witness growth by 5.1X during the forecast period.

“Key players in the market by offering attractive short term subscriptions pricing and gamified and contextualized interfaces to engage and retain the learning audience. This is expected to create growth avenues and reach large customer base,” says FMI Analyst

Adaptive Learning is Gaining Traction

Adaptive learning has gained more interest due to new product development, partnership among e-learning software providers and education publishers and significant investment in adaptive learning. Adaptive learning is gaining popularity as the development of new technologies like AR and AI which is giving adaptive learning a lift at another level. The adaptive learning has the advantage of robust analytics, it also helps in confidence-based assessments and pre-learning tests that help organizations to sidestep the drawbacks of generalized learning.

Adaptive learning ensures that each learner goes through the most effective learning path. Adaptive learning helps learners to gain confidence due to the personalized feedback provided. Adaptive learning model adoption can help learner to gain the objective knowledge and various skills.

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Initiative by Educational Institutes Creating Growth Opportunities

Education institutions are undertaking initiatives for encouraging the students for switching from the traditional textbooks to eBooks for learning seamlessly. For Instance, K-12 schools are replacing traditional study to new online learning to benefit student’s overall growth. This is creating opportunities for the players to offer their e-learning solution in the market.

Also, demand for micro learning is increasing as it is suitable way of learning for the new generation of learners that have shorter attention spans. Learners are provided information at a rate that matches their ability to help them absorb knowledge more efficiently.

Micro learning also helps them to improve learning transfer by 71% compared to traditional learning methods. It generates 50% more engagement, while reducing development costs by 50% and increasing development speed.

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Edtech Market Outlook by Category
By Component:

Hardware
- Interactive White Board
- AR/VR Devices
- Projectors
- Webcasting Devices
- Others
Software
- Learning Management System Platform
- Virtual Classroom Software
- Others
Services
- Managed Learning Services
- Professional Services
  - Learning & Content Management
  - Consulting
  - Integration & Implementation
  - Support & Maintenance

By End User:

Government Organization
Academic Institution
- K-12
- College Universities
Enterprises
- SMEs
- Large Enterprises
Others

By Region:

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

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Cat Furniture and Scratchers Market Size & Share | Global Industry Report for 2030

The cat furniture and scratchers market size are expected to grow at a healthy CAGR of over 6.8% during the study forecast period 2020-2030, despite a temporary period of lull in 2020, according to the latest study by ESOMAR-certified market research firm, Future Market Insights (FMI). The research study tracks cat furniture and scratchers market in 20+ countries, offering a lucid analysis of how the growth trend will unfold.

The increasing concept of sustainability has changed the perception of many industry stakeholders in the past few years. Today sustainability is firmly on the agenda for many players engaged in manufacturing cat furniture and scratchers. Besides this, increasing environmental awareness has also encouraged buyers to switch towards environmentally friendly products in the market.

In light of the prevailing trend, the players in the market are currently focused on manufacturing scratchers using 100% recyclable cardboard. Sisal wrapped scratching posts are also prominent environmentally friendly products that are highly offered in the market.

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Materials such as bamboo, jute, cotton, sisal, and others are extensively used as product coverings. Such eco-friendly products are extensively promoted as non-toxic and green products which are considered safe for use of cats. Such initiatives on the part of players to promote eco-friendly products in the market are further expected to reshape the industry in the coming years. Currently, wood remains the material of choice for building cat furniture and scratchers.

Key Takeaways from the Cat Furniture and Scratchers Market Study

FMI in its latest study has forecast the market to rise at a CAGR of 6.8% between 2020 and 2030
The U.S. will remain a key market, accounting for over 71% of market in North America
Increasing cat adoption will enable the U.K. market to register 1.6% Y-o-Y growth in 2021
Market in Germany and France are poised to surge in the near-term assessment period
While Japan and South Korea will emerge as highly lucrative markets, China will continue dominating market in East Asia

“Direct-to-Consumer (DTC) market channel is gaining significant popularity in the market. Market players are aggressively improving their presence on digital and other social media platforms to further promote their brand directly to the potential consumers,” says an FMI analyst.

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Impact of COVID-19 on the Market

Even today brick and mortar stores account for a significant share in the market. The traditional countries like India, Vietnam, etc. even today prefer buying necessary products from physical stores. The lockdowns caused temporary store closures directly resulting in failure on the part of physical establishments to increase market of cat furniture and scratchers. Besides this, the specular shift in consumer spending from discretionary spending to only essential goods has further impacted the market during the period.

Who is winning?

Some of the key players present in the cat furniture and scratchers market are Inter IKEA Systems B.V., American Company, Tuft + Paw, Ware Manufacturing Inc., CatsPlay Furniture, Paw friendly Cat Furniture LLC, Go Pet Club, LLC., Catastrophic Creations, Mid-West homes for Pets, Profeline Cat Supplies, North American Pet Products, PetPals Group, Inc., PlayTime Workshop, Inc., Preveu Pet Products and among others.

The manufacturers currently operating in the market are stressing over design innovation. Besides this, the manufacturers are also engaged in offering customized solutions to customers. The customization is done in the case of design, style, material, covering pattern, etc.

Get Valuable Insights into Cat Furniture and Scratchers Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global cat furniture and scratchers market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the cat furniture and scratchers market based on the product type (cat trees and condos, shelves and perches, scratching posts, cat steps and cat beds), material type (wood, metal, plastic, others), and price range (US$10-US$25, US$25-US$40, US$40-US$55, and US$55 & above), market channel (independent small stores, wholesalers/distributors, specialty stores, online retailers, and other market channel) across seven major regions.

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