Market Research Blog – Page 957 – New Product Development

FMI Study States Global Hydrogen Combustion Engine Market to Exceed USD 46.31 Billion by 2033, Growing at 9.78% CAGR

The global hydrogen combustion engine market is poised for significant growth, with a robust Compound Annual Growth Rate (CAGR) of 9.78% forecasted throughout the projection period. With an estimated value of approximately USD 18.22 billion as of 2023, this market is on track for substantial expansion, aiming for a noteworthy valuation of USD 46.31 billion by 2033.

The surge in adoption of hydrogen combustion engines is underpinned by various factors, including governmental initiatives supporting fuel cell vehicles. These efforts encompass financial incentives, regulatory backing, and the development of hydrogen fueling infrastructure, collectively fostering an environment conducive to the widespread embrace of hydrogen-powered transportation solutions. This trajectory not only promises to reshape the automotive sector but also underscores a pivotal shift towards sustainability and environmental consciousness in the industry’s future landscape.

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Shifting Focus Drives Global Hydrogen Combustion Engine Market:

Amidst escalating crude oil costs, stringent emission norms, fuel supply security concerns, and noise pollution, Original Equipment Manufacturers (OEMs) are redirecting attention toward natural gas and hydrogen-based engines. This pivotal shift is poised to catalyze the global hydrogen combustion engine market.

Furthermore, mounting governmental and organizational backing for refueling infrastructure development worldwide is projected to fuel rapid advancement in the global hydrogen combustion engine market. The anticipated decline in fuel cell costs, propelled by innovative pricing strategies employed by fuel producers, is set to bolster market growth.

Hydrogen combustion engines are evolving steadily, leveraging diverse technical breakthroughs to deliver high power outputs while enhancing fuel efficiency. Despite the surge in demand for electric engines and a corresponding decline in traditional internal combustion engines, hydrogen combustion engines are expected to play a significant role in the automobile industry’s evolution, with potential for improvements in thermal efficiency, emissions, and electrification.

Key Insights:

North America is predicted to lead the global hydrogen combustion engine market during the forecast period, driven by substantial R&D investments and the US government’s renewable energy initiatives.
Europe, particularly Germany, is expected to witness rapid market growth, driven by key players actively developing hydrogen internal combustion engines to align with Europe’s climate-neutral ambitions.
The “proton membrane exchange” technology type is projected to hold significant revenue due to its role in enhancing electrochemical process efficiency.
The “commercial vehicles” application type, tailored to serve the middle class with affordability, quality amenities, compact sizes, and accessible financing, accounts for a notable market share and preference.

This comprehensive transformation is paving the way for hydrogen combustion engines to maintain a crucial role in the automobile industry’s evolution, offering potential enhancements in various aspects including emissions, efficiency, and electrification.

Competitive Landscape:

Owing to the existence of both international and local players, the global hydrogen combustion engine market is fragmented. A vast number of manufacturers have a significant market share in their respective regions. Organic developments, such as product releases and approvals, are often highly adopted by key companies. For instance, in April 2021, Toyota announced that it is developing a hydrogen-fueled combustion engine that will be used in sports vehicles and seeks to create a thriving and sustainable mobility society. These factors are estimated to expand the global hydrogen combustion engine market size.

Key Players Operating in the Industry:

Volvo AB
Toyota Motor Corporation
Volkswagen AG
Rolls- Royce Holding plc
Mahindra & Mahindra Ltd.
Renault SA
Mitsubishi Heavy Industries
MAN SE
General Motor Company
Ford Motors
Fiat Chrysler
Robert Bosch GmbH
AGCO Corporation
Caterpillar Incorporated
Shanghai Diesel Engine Company Limited
Rio Tinto
Komatsu

Key Segments Profiled in the Hydrogen Combustion Engine Market Survey:

By Technology:

Proton Membrane Exchange
Phosphoric Acid Fuel Cell
Others

By Application:

Passenger Vehicle
Commercial Vehicle
Ships
Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

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Global Rich Communication Services (RCS) Messaging Market Set to Reach US$ 8.5 Billion by 2032 with A2P Leading Revenue Growth

According to a newly released Future Market Insights study, the Rich Communication Services (RCS) Messaging Market revenues were expected to be US$ 1.4 Bn in 2021 and are projected to increase at a CAGR of 16% from 2022 to 2032. The market is anticipated to grow to a US$ 8.5 billion worth by the end of 2032.

Large organisations frequently have the financial capacity to run many operations, including separate divisions for marketing and advertising. Due to their access to resources and funding, large firms may easily integrate developing technology into their marketing and advertising plans.

Rich communication services also aid large enterprise IT and telecommunications teams in their transition to rich content messaging communication methods. Traditional messaging methods in large enterprises or on-campus are incapable of meeting changing messaging and communication needs. As a result, the use of rich communication services in large enterprises is growing at a fast pace, providing a dynamic and flexible approach.

For instance, Pizza Hut Delivery collaborated with IMImobile Limited to test Rich Communication Services (RCS) Business messaging to share promotional offers with customers, motivated by the pervasiveness of smartphones and a desire to remain at the forefront of technological innovation.

RCS was used to send brand promotion messages to Pizza Hut Delivery customers, which included a company logo and a verification icon with a ‘blue tick.’ Customers who were interested in the deals could then order them through the website. Customers could find contact information for their local Pizza Hut location, as well as T&Cs and opt-out options, by clicking on the Pizza Hut logo.

Key Takeaways from the Market Study

● Global Rich Communication Services (RCS) Messaging Market is estimated to reach a market size of US$ 1.9 Bn by 2022.

● The A2P segment, is expected to account for the highest CAGR rate of 16.1% during the forecast period.

● United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 2.3 Bn during 2022 – 2032.

● The market in US is set to experience the highest CAGR of 15.7% during the forecast period.

“During the projected period, a growing population, surge in smartphone connections, increasing mobile payment users, spurt in retail industry revenues, and use of advanced SMS systems for marketing and customer relationship management can be the key drivers in raising the Rich Communication Services (RCS) Messaging market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Rich Communication Services (RCS) Messaging Market are focused on R&D to produce innovative technological solutions.

In July 2021, Verizon and Google announced a partnership that will bring advanced messaging services to Android users in the U.S. via the Messages by Google app. The RCS-based service, which can be accessed directly through Google Messages, provides a more interactive and modern messaging experience.
In December 2021, BICS Singapore, a wholly-owned subsidiary of the BICS Group, has agreed to purchase 3m Digital Networks Pvt Ltd, a Communications Platform as a Service (CPaaS) specialist, for an undisclosed sum. BICS’ portfolio will be expanded as a result of the acquisition to include AI-enabled voice, multi-channel messaging such as WhatsApp, verification services such as IP messaging and RCS, and advanced analytics services.
In September 2021, Edgecore Networks and Ecrio, the leading provider of mobile carrier communications and messaging client software, announced the addition of Carrier Voice and Rich Communication Services (RCS) capability to the Edgecore family of Open WIFI-ready Access Points.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Rich Communication Services (RCS) Messaging Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Rich Communication Services (RCS) Messaging Market Communication Type (A2P, P2A, P2P), By Vertical (Retail, Media & Entertainment, BFSI, Healthcare, Travel & Tourism, Others), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Market Segments Covered in Rich Communication Services (RCS) Messaging Market Analysis

By Communication Type:

By Vertical:

Retail
Media & Entertainment
BFSI
Healthcare
Travel & Tourism
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Purpose-built Backup Appliance (PBBA) Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2022-2032

According to a newly released Future Market Insights study, the Purpose-built Backup Appliance (PBBA) Market revenues were expected to be US$ 9.3 billion in 2021 and are projected to increase at a CAGR of 10.8% from 2022 to 2032. The market is anticipated to reach a US$ 29.4 billion worth by the end of 2032.

By 2032, it is anticipated that the Chinese market will be worth US$ 2.4 billion, expanding at a CAGR of more than 17% between 2022 and 2032. Due to factors including the expansion of SMEs and growing economies, China represents a potential market for backup appliances that are specifically designed for backup purposes.

The growth of China’s economic infrastructure will have a direct influence on the market. Also, the existence of large corporations, a strong supply side, vigorous industrial development demand, and financial capabilities is likely to make a significant contribution in the PBBA market revenue. In March 2022, China announced a series of policy documents authorizing the establishment of several new data centre clusters around the country.

These data center clusters are planned as part of the “Eastern Data, Western Computing” program, which was first suggested in 2020. The plan calls for the creation of a national data center and computer infrastructure, with data eventually moving from China’s highly populated east to the more rural and resource-rich west.

The plan is a proactive government effort aimed at increasing computer power and data storage capacity in anticipation of increased digitization and technical innovation, as well as resolving a computing supply and demand mismatch.

Key Takeaways from the Market Study

Global Purpose-built Backup Appliance (PBBA) Market is expected to reach a market size of US$ 10.6 Bn by 2022.
The Software segment, is expected to have the highest CAGR rate of 11.4% during the forecast period.
United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 4 Bn during 2022 – 2032.
The market in China is set to experience the highest CAGR of 17.2% during the 2022-2032 forecast period.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Purpose-built Backup Appliance Market are focused on R&D to produce innovative technological solutions.

In March 2022, Microsoft Corporation announced that its customers will enjoy unlimited access to a new Azure region in North China, adding the fifth Azure region to the China market and doubling the capacity of Microsoft’s intelligent cloud portfolio in China. The new Azure region will strengthen Microsoft’s capabilities to allow and empower innovation, development, and the discovery of possibilities across the company, ecosystem, and a sustainable future.
In December 2021, Dell introduced DD6400, which is a contemporary backup device designed for commercial clients, small businesses, and big organizations with remote installations. They stated that the DD6400 would support the Dell EMC PowerProtect Cyber Recovery solution, putting cyber security at the forefront of the IT ecosystem. The DD6400 has a hardware-assisted compression card that boosts logical capacity per TB by 30%, yielding a 65x data deduplication ratio.

Market Segments Covered in Purpose-built Backup Appliance Market Analysis

By Deployment:

Cloud purpose-built backup appliances
On-Premise purpose-built backup appliances

By Component:

Purpose Built Backup Appliance Hardware
Purpose Built Backup Appliance Software
Deduplication
Compression
Encryption
Remote Replication
Support interfaces
Purpose Built Backup Appliance Services
Installation and Integration
Support and Maintenance

By System:

Integrated Backup Appliance
Target Systems Backup Appliance
Open System Backup Appliance
Mainframe Purpose Built Backup System

By Enterprise Size:

Small & Medium Enterprises (SMEs)
Large Enterprises

By Industry Vertical:

BFSI (Banking, Financial, Services and Insurance)
Telecom and IT
Government
Healthcare
Education
Manufacturing
Travel and Hospitality
Energy and Utility
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Pre-terminated Systems Market Forecasted at US$ 5.9 Billion by 2032

The pre-terminated systems market was estimated at US$ 2.5 Billion in 2021 and is anticipated to grow at a CAGR of 8.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 5.9 Billion. The components segment is forecasted to grow at the highest CAGR of over 7.9% during 2022-2032 Cable connectors, patch panels, patch cords, and fiber enclosures are all components that help the pre-terminated systems industry grow further.

During COVID-19, the traffic migrated to residential areas as a result of the work-from-anywhere trend, and overcrowded centers required enlargement. Businesses and employees have recognized that working from anywhere, particularly from home, does not result in a less productive workforce. On the contrary, many people who work from home are more productive and have acclimated to the new normal since they are not forced to attend office every day.

With the current expansion in the fiber optics sector, any potential projects must use the appropriate fiber optic cables, assemblies, and termination technologies. While there are several types of fiber optic cables and connectors, the basic termination options include field-terminated and pre-terminated. Pre-terminated fiber optic cables or assemblies will be favored in the post-COVID environment since they are quicker, simpler, and need less technician training than field-terminated cables.

Key Takeaways from the Pre-terminated Systems Market Report:

The global pre-terminated systems market is poised for significant growth, projected to reach a valuation of US$ 2.7 Billion by 2022. Among its components, pre-terminated systems are anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. Notably, the United States emerges as the leading market, with a remarkable absolute dollar growth opportunity of US$ 1.1 Billion expected between 2022 and 2032. Moreover, within the U.S., the market is forecasted to experience the highest CAGR of 7.9% during the same period, reflecting robust expansion and promising prospects in the pre-terminated systems sector.

Competitive Landscape: The market is fiercely competitive, where key players are increasingly focused on obtaining competitive advantage. The key companies in the Pre-terminated Systems Market are focused on R&D to produce innovative technological solutions.

In May 2022, Huber+Suhner introduced a new FTTH modular connection option, allowing clients to install portions of their own fiber. The new RESA launch is intended to give carriers and end users a simple installation option in rural, suburban, residential, and commercial locations.

It is intended to lower the costs, time, and resources necessary for FTTH network construction while providing greater convenience and choice to customers.

In May 2022, NECTOR T Pluggable connections from TE Connectivity (TE) are a pluggable power-distribution connector-cabling system that was recently developed under the pre-terminated systems series and is ideal for moist and wet environments. The NECTOR T connections, which include 3-way and 4-way splitters as well as panel mount connectors, offer a complete solution for quick and easy power splitting. Installation is quick and versatile with both crimp and screw terminals, making them easy to install and repair using standard tools. By delivering pre-terminated cables, TE Connectivity will remove all labor involved with the transit and manufacturing of these goods.

Leading Key Players:

Major key players in the pre-terminated systems market include Legrand SA, Connectix Cabling System, The Siemon Company, ComCore Connexions, Schneider Electric, Panduit Corp., Optical Cable Corporation, CommScope Holding Company, Inc., Nexans SA, Leviton Network Solutions, HUBER+SUHNER AG, Comnen Technology Co. Ltd., The Cabling Company, Optec Technology Limited, CABLExpress Corporation, Belden Inc., Amphenol Corporation, TE Connectivity Ltd., Corning Incorporated, and HellermannTyton PLC.

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Global Positive Displacement Sanitary Pumps Market to be Worth US$ 20.2 Billion by 2032: Future Market Insights, Inc.

The Positive Displacement Sanitary Pumps Market revenues were estimated at US$ 7.8 Billion in 2021 and is anticipated to grow at a CAGR of 8.9% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 20.2 Billion.

India is projected to account for nearly 20% of the APAC positive displacement sanitary pumps market share by the end of 2032. Increasing activities in sectors like agriculture, wastewater management, and pharmaceutical industries post-COVID will have a huge impact on the overall GDP of the country.

For this reason, the demand for industrial equipment like Positive Displacement Sanitary Pumps is projected to increase in the near future. India’s food and grocery business has been the world’s sixth largest, with retail accounting for 70% of total sales. Furthermore, food processing accounts for 32% of the whole food market.

Governments across India have established stringent legislation and regulations to address wastewater treatment in urban and industrial regions. Under the regulations, operators must implement water treatment systems in their operations to manage water scarcity issues. As a result, sewage treatment is likely to benefit the positive displacement sanitary pump sector significantly in the near future.

According to Mr. Amitabh Kant, CEO of NITI Aayog, the value of wastewater treatment plants in India was US$ 2.4 Bn in 2019 which is predicted to climb to US$ 4.3 Bn by 2025, as the demand for municipal and sewage water treatment facilities increases across the country. The industry will have a high need for investment, which the private sector may be able to fulfil through technology selection, fund rotation, and execution.

Key Takeaways from the Market Study

Global Positive Displacement Sanitary Pumps Market is estimated to account for a market size of US$ 8.7 Billion by 2022.
The Rotary segment, is expected to account for the highest CAGR of 8.2% during the forecast period.
China is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 1.6 Billion during 2022 – 2032.
The market in India is set to experience the highest CAGR of 12.7% during the 2022-2032 forecast period.

“During the projected period, the rising consumer and food industry demand for processed foods in both developed and developing countries can become a key driver in raising the Positive Displacement Sanitary Pumps market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Positive Displacement Sanitary Pumps Market are focused on R&D to produce innovative technological solutions.

In June 2021, Quantex Arc Ltd., a provider of single-use precision pumping technology, was acquired by PSG, a Dover Corporation subsidiary. When the acquisition finalized, Quantex will be combined into Dover’s Pumps & Process Solutions segment’s PSG business unit. PSG’s presence in biopharma and other sanitary applications has expanded with the purchase of Quantex. Quantex’s recyclable product line will allow the business to broaden its single-use application reach in the biopharma, sanitary, food and beverage, and industrial sectors.
In May 2021, Xylem Inc. announced that it has sold the Jabsco rotary lobe pump product line to the Verder Group. Verder’s position in sanitary pumps for pharmaceutical and food and beverage applications is strengthened by the purchase. The items will be offered under the “Jabsco by Packo” brand throughout the changeover phase. Packo is the Verder Liquids pumps division’s principal sanitary brand, and it comprises centrifugal, twin-screw, and lobe pumps.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Positive Displacement Sanitary Pumps Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Positive Displacement Sanitary Pumps Market across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Market Segments Covered in Positive Displacement Sanitary Pumps Analysis

By Pump Type:

Rotary Positive Displacement Sanitary Pumps
- Rotary Lobe
- Twin Screw
- Progressive Cavity
- Eccentric Disc
- Gear
- Sinusoidal
- Hose
Reciprocating Positive Displacement Sanitary Pumps
- Piston/Plunger
- Diaphragm

By End-Use:

Food & Beverage
Pharmaceutical
Cosmetics
Biotechnology
Water Treatment Systems
Textile
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Market Dynamics and Key Players in the Portable Gas Detection Equipment Market: An In-depth Assessment

The Mobile Gas Detection Equipment The market analysis report from Future Market Insights estimates that sales of portable gas detection market equipment will total US$ 1.6 billion globally in 2021. The market is projected to grow by 4.3% by 2032, reaching US$ 2.5 billion. Non-wearables are expected to generate the most income, with a projected CAGR of 3.7% from 2022 to 2032.

Increased shale gas output and technology advancements in extraction are expected to boost the US market. As a result of higher petrol prices and environmental concerns, more individuals are utilizing natural gas as a kind of transportation fuel.

Key Takeaways from the Market Study

Global Portable Gas Detection Equipment Market is expected to reach a market size of US$ 1.7 Bn by 2022.
The Non-Wearable segment is expected to have the highest CAGR of 3.7% during the forecast period.
United States to remain the most dominant market with an absolute dollar growth opportunity of US$ 227 Mn during 2022 – 2032.
The market in China is set to experience the highest CAGR of 4.8% during the 2022-2032 forecast period.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Portable Gas Detection Equipment Market are focused on R&D to produce innovative technological solutions.

In April 2020, MSA introduced the TG5000 Gas Monitor, which in a range of light industrial applications, it detects oxygen, flammable, and hazardous gases. The TG5000 Monitor, with its large LCD and four relay outputs, may operate completely independently or be linked to a control system through a 4-20 mA output.
In October 2020, Honeywell introduced a new gas detection system to assist semiconductor manufacturing plants and other businesses in monitoring job sites, protecting employees and assets, and reducing downtime. The Vertex Edge allows workers to quickly analyze gas readings, warnings, event logs, real-time trends, and overall system status. It also has a basic touchscreen with large display icons.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Portable Gas Detection Equipment Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Portable Gas Detection Equipment Market across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

Market Segments Covered in Portable Gas Detection Equipment Market Analysis

By Product Type:

Wearable Gas Detectors
Non-wearable Gas Detectors
Sniffer
Others

By End-Use:

Oil & Portable Gas
Mining
Industrial
Building Automation
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Intelligent Traffic Management Market is projected to increase at a CAGR of around 7.7% during 2022 to 2032

The Intelligent Traffic Management Market revenues were estimated at US$ 9.6 Bn in 2021 and is anticipated to grow at a CAGR of 7.7% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 21.8 Bn. Intelligent traffic management revenue through Traffic Monitoring System grew at a CAGR of 8.4% during 2015 – 2032.

A large number of individuals in the United States utilize private automobiles for two reasons. The foremost is that most Americans live in low-density regions with little access to public transportation. Second, privately owned automobiles are more convenient. Owing to this traffic congestion has increased abruptly in the country.

About 87.9% of people in the U.S. utilize private transportation, which raises the risk of road congestion. As household incomes grow across the world, an increasing number of individuals are shifting from slower, less costly forms of transportation to privately owned vehicles and trucks.

Developed countries have been implementing a variety of efforts to increase the usage of public transit. Thus, expenditures in the traffic management industry is projected to be driven in the forthcoming years by the need to upgrade current transportation infrastructures and enhance ICT systems.

Additionally, growing pollution and congestion issues, as well as other environmental problems, are driving demand for the Intelligent Traffic Management system market throughout the forecast period. Moreover, the enhanced deployment of the 5G network in numerous countries across the world is likely to spur market expansion due to the growing importance of wireless broadband communications in the intelligent transportation system.

Key Takeaways from the Market Study

● Global Intelligent Traffic Management Market is expected to reach a market size of US$ 10.4 Bn by 2022.

● In terms of Product Type, the Traffic Monitoring System segment is expected to have the highest CAGR rate of 7.6% during the forecast period.

● In terms of Application, the Highway segment is expected to have the highest CAGR rate of 7.4% during the forecast period.

● United States to remain the most dominant market with absolute dollar growth opportunity of US$ 4 Bn during 2022 – 2032.

● The market in U.S. is set to experience the highest CAGR of 7.5% during the 2022-2032 forecast period.

“The surge in urban mobility is expected to expand the Intelligent Traffic Management market. Besides, through the new constructions of highways, the governments across the world, are expected to adopt intelligence transportation management market.” comments a Future Market Insights analyst.

Competitive Landscape

Some of the key Intelligent Traffic Management companies include

Kapsch TrafficCom AG,
Siemens AG,
Transcore,
Delcan,
SICE,
Huawei Technologies Co.,
Alstom,
Q-Free A.S.A.,
Cisco Systems, Inc., and
IBM Corporation.

Some of the recent developments in Intelligent Traffic Management Market include:

· In May 2021, Q-Free, a provider of smart city infrastructure mobility solutions, announced the introduction of Kinetic CV, its advanced connected and autonomous vehicle (CAV) information solutions.

· In January 2021, Huawei, in collaboration with its partners created intelligent and connected cars for China. The government intends to make transportation easier and safer for individuals. The X-Bus vehicle is connected to a transport-control network. It would be capable of watching and controlling everything that occurs on the test route.

Market Segments Covered in Intelligent Traffic Management Market Analysis

By Product Type:

Traffic Monitoring System
Traffic Signal Control System
Traffic Enforcement Camera
Intelligent Driver Information System
Integrated Corridor Management
Others

By Application:

Highway
Managed Lanes
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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COVID-19 Saliva Sampling Test Market Reveals Promising Growth USD 5.4 Billion at a 5.1% of CAGR

A newly released market analysis report by Future Market Insights indicates that the global COVID-19 saliva sampling test market generated sales of approximately USD 3.1 billion in 2021. With a projected compound annual growth rate (CAGR) of 5.1% from 2022 to 2032, the market growth is anticipated to significantly outpace historical growth rates.

The report highlights that the fluorescence-labeled antigen/antibody testing segment is expected to be the leading revenue generator within the market. This segment is projected to experience robust growth, with a CAGR exceeding 5.1% over the forecast period.

The increasing demand for non-invasive testing methods, along with the growing preference for saliva sampling in both clinical and home settings, is driving the market’s expansion. Saliva-based tests are recognized for their ease of use, rapid results, and patient comfort, making them a preferred choice for COVID-19 testing.

As the cases of people visiting public places grow, visitors have begun to predominate in some locations worldwide, leading to an increase in demand for testing at point-of-care to determine whether a person is contagious with the coronavirus disease (COVID-19). This has fuelled technological innovation, which is spurring improvements in the sequencing of saliva-based diagnostic tests to prevent viral transmission from asymptomatic individuals.

Fluorescence-labelled antigen/antibody testing allows for the rapid identification of contagious individuals and is an effective Sampling modality for cruise ships, aeroplanes, sports stadiums, and schools. The combination of vaccination and rapid and frequent testing with fluorescence-labelled antigen/antibodies tests has the potential to end the pandemic. The system for fluorescence-labelled antigen/antibody testing is intended to accelerate rapid point-of-access testing of individuals by utilizing the principles of fluorescence detection, biochemistry, robotics automation, and cloud computing.

Owing to the physiological changes associated with ageing and potential underlying health conditions, the ageing population is at a high risk of developing severe illness. Poor health status, decreased organ function, weakened immune function, an increased likelihood of multiple underlying diseases, and a lack of attention to personal health can all increase susceptibility to various diseases in the elderly. As a result, the growing population of people over the age of 65 indicates that a greater proportion of people in this age group are at risk of contracting the disease. As a result, the ageing population is more vulnerable to viral infections, which will increase demand for COVID-19 saliva-based Sampling.

Competitive Landscape

Market players are actively working on innovative solutions and expanding their product portfolios to gain a competitive edge. To assist healthcare organizations in implementing data analysis solutions, address the challenges posed by the COVID-19 pandemic, and maintain market competitiveness, companies are focusing on partnerships, technology collaborations, and product launch strategies.

Here are some recent advancements from key providers in the COVID-19 saliva sampling test market:

In April 2021, Chembio Diagnostics, Inc. introduced a rapid point-of-care test (POCT) designed for use in both decentralized and traditional diagnostic settings, addressing the demand for COVID-19 testing. The product was made available promptly to customers across the United States.
In the same month, Vatic Health received the CE mark for its on-the-spot SARS-CoV-2 saliva antigen test, which is also registered with the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom.
In March 2020, Abbott launched ID NOW, a molecular point-of-care test for detecting COVID-19, after obtaining Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration. The device is compact, lightweight (6.6 pounds), and portable, producing positive results in as little as five minutes and negative results in about 13 minutes.

Additionally, the Future Market Insights team has been tracking recent developments related to companies providing COVID-19 saliva sampling test services, which are detailed in the comprehensive report.

Market Segments Covered in COVID-19 Saliva Sampling Test Potential Market Analysis

By Location:

Travel Stations
Sports Arenas
Entertainment Venues
Corporate Campus Environments
Universities & Colleges
Factories

By Technology:

Fluorescence-labeled antigen/antibodies testing
RT-PCR
CRISPR-Cas9

By Mode:

Centralized Testing
Decentralized Testing

By Region:

North America
Latin America
Europe
APAC
MEA

Author

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Animal Health Software Market to Reach $1.97 Billion by 2033

The global Animal Health Software Market is projected to experience significant growth over the next decade, increasing from US$ 692.4 million in 2023 to a remarkable US$ 1,966.1 million by 2033, reflecting a strong CAGR of 11% during the forecast period. The rising emphasis on animal welfare, coupled with advancements in technology and digital healthcare solutions for animals, is driving market growth. In addition, the U.S. is expected to account for a substantial share of this growth, with the U.S. Animal Health Software Market projected to reach US$ 675.7 million by 2033.

As the veterinary industry adopts more software solutions to streamline operations and improve diagnostics and treatments, the need for sophisticated animal health software is becoming essential. This market expansion is fueled by an increase in pet ownership, livestock care, and the demand for better disease management solutions.

Key Takeaways from the Market Study:

Market Valuation in 2023: The global animal health software market was valued at US$ 692.4 million.
Forecast for 2033: The market is expected to reach US$ 1,966.1 million by 2033.
CAGR: The market is set to grow at a CAGR of 11% between 2023 and 2033.
U.S. Market Share: The U.S. animal health software market is projected to reach US$ 675.7 million by 2033.
Growth Drivers: Increasing demand for veterinary care, rising pet ownership, and the adoption of digital tools for better animal health management.

Drivers and Opportunities:

Several factors are driving the growth of the Animal Health Software Market:

Rising Pet Ownership: The growing pet adoption rates globally are leading to increased demand for advanced veterinary services, which in turn is fueling the need for efficient animal health software.
Advancements in Technology: The adoption of AI, big data, and cloud-based solutions is enhancing the capabilities of veterinary management software, improving diagnostics and overall animal healthcare services.
Increased Focus on Livestock Management: Farmers and livestock owners are increasingly adopting software solutions to monitor and manage animal health, vaccinations, and productivity, contributing to market expansion.
Regulatory Compliance and Data Management: The need for veterinary practices to comply with regulations and manage large volumes of patient data is driving the demand for integrated software solutions.

Components Insights:

The Animal Health Software Market is composed of several key components, each playing a critical role in modern veterinary practices:

Practice Management Software: This component streamlines administrative tasks such as scheduling appointments, billing, and patient record management.
Veterinary Imaging Software: Advanced imaging tools are integrated into animal health software to assist veterinarians in diagnosing health issues accurately.
Electronic Health Records (EHR): EHR systems store and manage medical records, enabling veterinarians to track patient history, vaccinations, treatments, and medications.
Telemedicine Solutions: The growing use of telemedicine is providing pet owners with remote access to veterinary care, improving convenience and expanding the market for veterinary software.

These components are instrumental in enhancing the efficiency and effectiveness of animal healthcare services.

Application Insights:

Animal health software finds application across several areas:

Companion Animal Care: Pet owners are increasingly relying on software solutions to manage appointments, monitor health conditions, and ensure proper vaccinations for their pets.
Livestock Health Management: Farmers are utilizing software to monitor herd health, track medical treatments, and improve productivity through better disease management.
Diagnostic and Treatment Planning: Veterinary software aids in diagnostic processes, enabling veterinarians to recommend more effective treatment plans based on real-time data and insights.
Veterinary Clinics and Hospitals: Animal health software is becoming a core component in clinics and hospitals for efficient management of operations, inventory, and patient care.

The rise in demand for these applications across diverse areas will continue to drive market growth.

Deployment Insights:

The Animal Health Software Market can be segmented based on deployment models:

Cloud-Based Solutions: Cloud-based software is gaining popularity due to its flexibility, lower upfront costs, and ease of access, particularly for small and mid-sized veterinary practices.
On-Premises Solutions: Larger veterinary clinics and hospitals often prefer on-premises solutions to maintain greater control over data and system management.

As digital transformation accelerates in the animal healthcare industry, cloud-based solutions are expected to dominate the market over the coming years.

Key Companies & Market Share Insights:

Leading players in the Animal Health Software Market include:

IDEXX Laboratories, Inc.
Covetrus, Inc.
Vetspire
Hippo Manager Software, Inc.
Animal Intelligence Software, Inc.
ezyVet
Henry Schein, Inc.

These companies are actively focusing on technological innovations, strategic partnerships, and expanding their software offerings to capture a larger share of the growing animal health software market.

Recent Developments:

IDEXX Laboratories recently launched an advanced cloud-based software platform that integrates with diagnostic tools for more precise and efficient veterinary care.
Covetrus, Inc. announced a strategic partnership with telehealth providers to offer veterinary practices telemedicine capabilities, further enhancing their digital offerings.
Vetspire introduced AI-powered veterinary management software designed to provide insights into patient health, streamline operations, and improve clinical outcomes.

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Global Hard Gelatin Capsule Market Expected to Reach USD 3,409.7 Million by 2034 at a 5.8% of CAGR

The global hard gelatin capsules market is projected to experience significant growth, with estimated sales valued at USD 1,940.3 million in 2024 and an anticipated increase to USD 3,409.7 million by 2034. This represents a compound annual growth rate (CAGR) of 5.8% over the forecast period. The revenue generated by hard gelatin capsules in 2023 was USD 1,833.9 million, reflecting a year-over-year growth of 5.9% in 2024.

Hard gelatin capsules are a critical pharmaceutical dosage form made from animal collagen, consisting of a body and cap that fit together seamlessly. These capsules are specifically designed to encase powdered or granular substances for oral administration.

The advantages of hard gelatin capsules are numerous. They effectively protect active components from moisture and air, preserving their potency and extending shelf life. Additionally, they facilitate easy swallowing and ensure accurate dosages, making them a preferred choice among consumers and healthcare professionals alike.

One of the primary factors driving the demand for hard gelatin capsules is the growth of the nutraceuticals market. As consumers increasingly seek health supplements and functional foods, the need for effective and reliable delivery methods, such as hard gelatin capsules, continues to rise.

Further, hard gelatin capsules allow for combination filling, unlike soft gels, allowing for the encapsulation of pharmaceuticals in the form of pellets, micro tablets, and beads in addition to the liquid formulation. This not only permits numerous incompatible pharmaceuticals to be combined in a single capsule but also results in a formulation that is far more appealing to consumers.

Increasing prevalence of non-communicable diseases such as cancer, diabetes, heart disease, and lung disorders has surged the demand for nutraceuticals. Hence, key players have established their positions in the market by investing more in research and having a better distribution system.

Key Takeaways from Market Study

Type-B gelatin (animal bones & calf skin) as a source holds an approximate market share value of 7%of the global market in 2021.
By size, size “0” capsules are expected to hold a dominant market share value of 7% in 2021 in the global market.
Oral administration is displayed as a preferred route of administration in the global market with CAGR growth value expected to reach 4% by 2032.
Pharmaceutical companies are the dominant segment in terms of end users within the global market, carrying an estimated market share value of about1% in 2021.
The U.S. is considered to be the most lucrative market, accounting for a value share of 8% in 2021 in North America.

Market Competition

Market expansion will be hampered by increasing vendor competition. With the presence of numerous brands and regional and local vendors, the market is expected to be fragmented. Furthermore, suppliers in the hard gelatin capsules industry are expanding their offerings to include mobile healthcare, medical educators, primary care extenders, and patient advocates.

During the focused period, increased competition is expected to have a negative impact on the worldwide emergency medical service market growth. The hard gelatin capsules industry is fragmented, and providers are competing by using both organic and inorganic growth techniques.

A Full Report Overview

Key Players :

ACG Worldwide
Lonza-Capsugel
Qualicaps, Inc. – MITSUBISHI CHEMICAL HOLDINGS CORPORATION
Sunil Healthcare Ltd.
CapsCanada Corporation / Farmacapsulas
Roxlor LLC
Suheung Co., Ltd. – EmboCaps
Medi-Caps Ltd.
NLL – Nector Lifesciences Ltd.
Natural Capsules
ERAWAT PHARMA
Dah Feng Capsule – Biocaps
Lefan Capsule
Qingdao Yiqing Medicinal Capsules Co., Ltd.
SHANXI GUANGSHENG MEDICINAL CAPSULE
HEALTH CAPS INDIA
COMED CHEMICALS
FORTCAPS HEALTHCARE
SHAOXING ZHONGYA CAPSULE
SHREE PHARMA CAPS
SHAOXING KANGKE CAPSULE
ZHEJIANG YUEXI CAPSULE
SAVIOUR CAPS
Chemcaps Ltd.
Anhui Huangshan Capsule
Jiujiang Angtai Capsule Co.,ltd
MEIHUA Group
Yili Capsule
Xinchang Kangdi Capsule Co.,Ltd.

Key Market Segments Covered in Hard Gelatin Capsules Industry Research

By Source:

Type-A (Pork Skin)
Type-B Gelatin (Animal Bones & Calf Skin)
Fish Bone Gelatin

By Size:

Size “000” Capsules
Size “00” Capsules
Size “0” Capsules
Size “1” Capsules
Size “2” Capsules
Size “3” Capsules
Size “4” Capsules
Size “5” Capsules

By Route of Administration:

Oral Administration
Inhalation Administration

By End User:

Pharmaceutical Companies
Cosmetic & Nutraceutical Companies
CROs & CDMOs

Author

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us: