Market Research Blog – Page 9592 – New Product Development

Ultrasonic Pulse Velocity Tester Market is likely to Garner a CAGR of 7.2% During the Forecast Period 2027

As per a recent in-depth analysis by Future Market Insights (FMI), Demand for ultrasonic pulse velocity testing solutions is steadily increasing, for its application in void and crack detection, non-destructive strength measurement, infrastructure and construction testing, material science and research, homogeneity detection, and elasticity measurements.

Considered as a pre-requisite in the construction industry, to evade any adversities, materials used for building, construction, and manufacturing activities have to undergo laboratory or on-site testing to be deemed fit for any habitation, translating into increased demand for efficient laboratory-grade non-destructive ultrasonic testing solutions for material science research in both, developing and developed nations.

Moreover, with increased focus on reducing the time-to-market (TTM), translating into demand for efficient, low TTM testing equipment, will directly contribute to the global sales revenue of ultrasonic pulse velocity testers. Therefore, growth of the testing equipment market will remain critical to the non-destructive ultrasonic testing market. In addition, ultrasonic pulse velocity testers’ ability to supplement coring thereby allowing cost-effective ameliorated representative evaluation of the concrete strength of the whole structure, will drive its demand further, predicts FMI.

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The demand for ultrasonic pulse velocity testers is anticipated to grow at a stable rate of 5.5 percent, through 2019, reaching a revenue of US$ 470.5 Mn during the same period. While void and crack detection will remain the single largest application, holding over 22 percent market share, in terms of end-user vertical concrete, glass and building materials will witness maximum adoption of ultrasonic pulse velocity testers pumping concentrated revenue, through the assessment period of 2018-2027. The concrete, glass and building materials segment is projected to hold over 18 percent market share in 2023, as per the report on ultrasonic pulse velocity tester market

Representing a steady year-on-year growth, the global ultrasonic pulse velocity tester market is pegged to expand at a rather robust growth rate of 6 percent, through 2027. Rampant growth of the commercial construction and infrastructure sector will prominently escalate the demand for ultrasonic pulse velocity testers at a global level.

However, as significant demand for ultrasonic pulse velocity tester prevails, the report also projects that manufacturers offering ineffective after-sale customer services, translating into eventual transition towards other ultrasonic testing types, could prove to be critical market restrainers.

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Key Players Hold 44% Market Share

The global ultrasonic pulse velocity tester market represents presence of a number of player, with the top participants including Controls S.p.A., Proceq Group, James Instruments Inc., Impact Test Equipment Inc., Humboldt Mfg. Co., holding relatively prominent market share—collectively contributing nearly 44 percent the global revenue share. These market players secure a prominent position in the global ultrasonic pulse velocity testers market owing to their highly diverse product offering portfolios. The overall forward market strategies in the ultrasonic pulse velocity tester market includes:

Key players placing significant importance on expansive product offering and product advancements.
Strategic business relationships and contracts with distributors and suppliers in all the business regions.
Affordable pricing, quality solutions, and services will remain instrumental in growth strategy.

Key Segments

By Application

Non-destructive Strength Measurements
Void and Crack Detection
Homogeneity Detection
Elasticity Measurements
Infrastructure and Construction Testing
Material Science and research
Other Applications

By End Use Vertical

Aerospace and Defence
Chemicals and Petrochemicals
Concrete, Glass and Building Materials
Educational Research
Oil and Gas Refineries
Sewage and Water Treatment Facilities
Construction Engineering, Remodelling and Design

By Transducer Frequency Range

24kHz – 50kHz
Above 50kHz, upto 100kHz
Above 100kHz, upto 150kHz
Above 150kHz

Key Regions

North America
- U.S.
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- U.K.
- France
- Spain
- Russia
- Rest of Europe
APEJ
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of APEJ
Japan
MEA
- GCC Countries
- Israel
- South Africa
- Rest of MEA

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Ultrasonic Pulse velocity Tester Market: Regional Insights

Developing markets including South East Asia Pacific and, also Middle East Africa, are likely to offer significant growth prospects to key manufacturers of ultrasonic pulse velocity testers, considering large scale development of infrastructural projects in the regions, including commercial building and residential areas.
North America will occupy a dominant position in the global ultrasonic pulse velocity testers market, owing to high to medium presence of manufacturers in the region.
Infrastructural upgrades such as educational institutions in regions like Brazil and China, is expected to create attractive opportunities for ultrasonic pulse velocity testers manufacturers.

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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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Water Quality Testing Equipment Market is Predicted to Grow at 5.9% CAGR through 2032

Water quality testing equipment sales roughly equated US$ 3.4 Bn in 2018. According to a new analytical study of Future Market Insights (FMI), sales of water quality testing equipment will surge at a healthy CAGR of more than 5.5% during the projection period, 2018-2027.

Plethora of Applications of Water to Sustain Sales of Water Quality Testing Equipment

Around 70% of the freshwater is used in horticulture, which will continue to establish a strong base for growth of water quality testing equipment market. Fishing in salt and fresh water has been a primary income source within several regions, which is cited as another important factor pushing expansion of water quality testing equipment market.

Constantly evolving regulatory framework for long-distance trade of products such as oil and natural gas, manufactured clothing and automotive products will also remain among the key factors fueling revenue growth of water quality testing equipment market. Water, steam, as well as ice are utilised for a range of small- and large-scale cooling and warming applications, further pushing demand growth of water quality testing equipment.

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Various industrial applications such as groundwater and surface water investigations of water bodies make it imperative to monitor physical, chemical, and biological parameters of water. According to FMI’s analysis, this will a significant booster for global water testing equipment market growth through 2027.

Strict Regulatory Framework to Drive Water Quality Testing Equipment Market Growth in Developed Regions

The report foresees water quality testing equipment market in Asia Pacific excluding Japan (APEJ) to hold a substantial share in the global market value in coming years. Increasing investments from governments to strengthen the implementation of water policies and growing adoption of safe-water standards as well as multiple international regulations and policies will prominently drive adoption of water quality testing equipment within APEJ.

FMI further expects the water quality testing equipment market to witness solid growth in Middle East & Africa (MEA) owing to the growing implementation of strict regulatory guidelines related to safe drinking water, by governments. The Americas and Europe will however remain dominant in the water quality testing equipment market, driven by rapid industrialization, and strongly backed by the stringent regulatory framework.

Inadequate Awareness & Relatively Low Capital Investment May Affect Growth of Water Quality Testing Equipment Market

Although various international organisations, such as WHO, International Water Management Institute, and UN World Water Development among others are continuously introducing favourable regulatory policies for water management, lack of sufficient public awareness about safe water quality, particularly in several underdeveloped and developing economies, will continue to be a major challenge facing adoption rate of water quality testing equipment. Inadequate funding and negotiable governmental policies within several economies will also remain the significant factor negatively impacting growth of water quality testing equipment market.

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FMI’s report has profiled some of the key players operating in the global water quality test equipment market, including ABB Ltd., Hanna Instruments, SUEZ, Thermo Fisher Scientific, Inc., Agilent Technologies Inc., Danaher Corporation (Hach), Honeywell International Inc., Shimadzu Corporation, and Emerson Electric Co. among others.

Key Segment On the basis of application

industrial
environmental
laboratory
government

On the basis of device type

stationery or bench-top
portable

On the basis of test type

pH test
dissolved oxygen test
conductivity test
turbidity test
TDC tests

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Cloud Billing Market a 15.2% CAGR from 2022 to 2032

The global cloud billing market is poised to increase at a steady CAGR of 15.2%, reaching US$ 16.8 Bn by 2032 from US$ 3.5 Bn in 2021.

One of the most powerful drivers driving cloud billing tools and service adoption across regions is the expanding number of cloud billing enrollees. Cloud billing suppliers are projected to benefit from factors such as increased international student mobility and more government efforts and financing.

The pandemic has been beneficial to the cloud billing market. Due to the COVID-19 pandemic, cloud billing systems, particularly usage-based pricing, have gained appeal as businesses adjust their budgets and preferences to survive the pandemic.

Furthermore, enterprises all over the world are increasing their investments in cloud billing systems to maintain operations. Governments are introducing programs to assist companies during the pandemic, with a specific focus on small and medium-sized enterprises (SMEs).

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The COVID-19 pandemic has also spurred cloud adoption across industrial sectors, as customers seek to take advantage of cloud benefits, including scalability and cost savings.

With its cost-cutting and improved business agility benefits for cloud billing markets of all sizes, emerging cloud technology is gaining a lot of momentum throughout the world.

Organizations may use the cloud to improve their billing operations, improving the entire client experience.

Cloud billing solutions save money for businesses since they lower the amount of IT resources and infrastructure required by requiring less integration and expensive hardware, as well as decreasing the risk of vendor lock-in for billing activities. As they replace human procedures, these billing solutions result in cheap capital and operational costs.

In the current environment, the influence of business intelligence (BI) on online purchasing is growing, while brick-and-mortar stores strive to obtain detailed information on their operations.

A billing system’s most crucial component is revenue. By displaying inconsistencies in sales statistics and product consumption, revenue data might provide insights concerning revenue leakages.

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Billing and revenue data may give benefits such as quick insights into the health of a digital transformation project, and the ability to make timely adjustments by examining the impact of system changes on KPIs Analytics in cloud billing may help with things like consumer purchasing behavior analysis, managing complicated financial structures and parameters, and creating and implementing new pricing models, among other things.

As a result, businesses in the cloud billing market are attempting to develop more BI and insights.

During the projection period, North America is estimated to account for the greatest cloud billing market share. For main industries, including telecoms, IT, BFSI, and telephony, North America is predicted to be the most promising cloud billing market. COVID-19 has a significant influence on North America.

Various manufacturing enterprises have ceased operations as a result of the lockout, and as a result, they are employing fewer cloud services. North America is divided into two parts in this report: the United States and Canada. The United States is predicted to contribute significantly to the growth of the cloud billing market in North America. Cloud billing solutions and service providers are projected to see significant growth in Canada.

Key Takeaways:

The solutions from the cloud billing market are expected to grow at the fastest CAGR of 15.1% in the component sector.
The public cloud is expected to grow at a high rate in the deployment type sector of the cloud billing market, with a CAGR of 15.0%.
The market size for cloud billing in the United States is expected to reach US$ 6 Billion by 2032, growing at a CAGR of 15.0% during the research period.
United Kingdom is expected to reach a market size of US$ 693.9 Million in cloud billing by 2032, with a CAGR of 13.9% during the research period.
China’s cloud billing market is expected to be worth US$ 1.2 Billion by 2032, with a CAGR of 14.5% over the forecast period.
Japan is expected to have a market size for cloud billing of US$ 1 Billion by 2032, with a CAGR of 13.4% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 606.7 Million in cloud billing, with a CAGR of 13.0% during the research period.

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COMPETITIVE LANDSCAPE:

Companies that provide cloud billing services have been seen extending their company by adding new items to their existing portfolio. Many organizations are effectively putting forward their brand value through proven business tactics such as acquisitions, collaborations, and so on and are investing heavily to maintain a competitive advantage in the cloud billing market.

Oracle
Salesforce
Sap
Zuora
Aria Systems

Are among the most important cloud billing market participants.

Aria Marketplace Suite was introduced in July 2020 by Aria Systems. B2B and B2C marketplace companies may use Aria Marketplace Suite to simplify their operations. Aria Marketplace Suite provides cloud billing market operations with revenue and product management capabilities, as well as a smooth billing and payment experience.
SAP made enhancements to SAP Subscription Billing in September 2020. Sending alerts before and after an allowance expires, finishing outstanding subscriptions, establishing allowance pricing, and setting cancellation notice dates are all possible with the new future.

Table of Content
1. Executive Summary

1.1. Global Market Outlook

1.2. Summary of Statistics

1.3. Key Market Characteristics & Attributes

1.4. Fact.MR Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment

3.1. Risk Assessment

3.1.1. COVID-19 Crisis and Impact on Cloud Billing Demand

3.1.2. COVID-19 Impact Benchmark with Previous Crisis

3.1.3. Impact on Market Value (US$ Mn)

3.1.4. Assessment by Key Countries

3.1.5. Assessment by Key Market Segments

3.1.6. Action Points and Recommendation for Suppliers

3.2. Key Trends Impacting the Market

3.3. Componentulation and Product Development Trends

4. Market Background

4.1. Cloud Billing Market By Country, US$ Mn

4.2. Cloud Billing Market Opportunity Assessment (US$ Mn)

4.2.1. Total Available Market

4.2.2. Serviceable Addressable Market

4.2.3. Serviceable Obtainable Market

4.3. Market Scenario Forecast

4.3.1. Demand in optimistic Scenario

4.3.2. Demand in Likely Scenario

4.3.3. Demand in Conservative Scenario

4.4. Investment Feasibility Analysis

4.4.1. Investment in Established Markets

4.4.1.1. In Short Term

4.4.1.2. In Long Term

4.4.2. Investment in Emerging Markets

4.4.2.1. In Short Term

4.4.2.2. In Long Term

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Table Linen Market is Set to Witness a CAGR of 6.1%- 6.9% During 2021-2031

The table linen market drives people to spend more on home decoration and interior, thereby driving the global table linen market. Table linen market is set to witness a CAGR of 6.1%- 6.9% during 2021-2031.

Changing lifestyle and growing real estate market drives people to spend more on home decoration and interior, thereby driving the global table linen market.

Moreover, availability of linen products such as covers, runners, mats and napkins at reasonable price allow customers to buy in multiple quantities and increase their buying frequency.

As a result, table linen market is set to witness a CAGR of 6.1%- 6.9% during 2021-2031.

Table Linen Market Forecast and CAGR of ~6.1%-6.9%

Changing lifestyle and growing real estate market drives people to spend more on home decoration and interior, thereby driving the global table linen market.

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Moreover, availability of linen products such as covers, runners, mats and napkins at reasonable price allow customers to buy in multiple quantities and increase their buying frequency. As a result, table linen market is set to witness a CAGR of 6.1%- 6.9% during 2021-2031.

What is Driving Demand for Table Linen Market

The mounting number of working class professionals in the developing countries, including India, Brazil and China is enabling consumers to increase their spending on decorative home products. Furthermore, the availability of natural and eco-friendly fibers is increasing the demand for decorative tableware products, is expected to increase the demand for table linen.

Over the past few years, there has been a growing awareness among manufacturers and consumers about natural fibers to protect the environment from the manufacturing process and synthetic waste generated from scrap materials.

This factor is expected to generate significant revenue for the global market during the forecast period.

New Product Launch is complementing the Table Linen Market Sales

Leading players in the market are launching new products to effectively retain the existing customers and effectively target potential customers. Innovations in product quality, the size of tablecloths and napkins play a major role in attracting the consumer.

Changing consumer preferences with the emergence of new styles and trends can lead to such product adoption. In this way the market is expected to grow with new experiments and grow in the coming years.

For example, IKEA Holdings BV has launched a variety of mats and dining textile products made from 100% polyester yarn and seaweed as base material. The surface coating is clear nitrocellulose lacquer, which protects the table top surface and reduces noise from plates and flatware.

US and Canada Table Linen Market Outlook

In the North America market, table linen is booming over the past few years and is expected to rise owing to spurring consumer’s income and their spending capacity. The growing demand for tablecloths to enhance the dining area with greater aesthetic appeal is fueling industry growth in the area.

In addition, the existence of developed economies such as the US is benefiting market expansion due to the strong base of branded manufacturers and well-established industrial infrastructure.

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Europe Demand Outlook for Table Linen Market

The demand for table linen in the European market is estimated to grow significantly in the upcoming years. In addition growing trend of using anti-stain table cloths in order to cut off maintenance costs is fueling the market growth in this region.

Moreover, E-commerce portals are expected to grow as a major selling medium by providing value-added services including cash on delivery, free-home delivery, overseas shipping facilities, return/exchange policy and coupon benefits is expected to remain a prominent market trend in the European region.

In order to reach a huge customer base, companies are offering their products through various online retailers such as Amazon, and Flipkart. The availability of a wide range of premium as well as products of international brands is one of the major factors in approving online purchases in this region.

Who are the Key Manufacturers of Table Linen Market?

Some of the leading manufacturers of table linen market include

IKEA Holdings B.V.,
Premier Table Linens LLC,
Prestige Linens LLC,
Urquild Linen Co.,
Fabrica Maria,
Jomar Table Linens CA,
Around The Table LLC,
Siulas AB, S.A. de C.V.,
StarTex Linen Corporation among others.

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.

Key Segments

By Material Type:

Crocheted or Knitted
Cotton
Linen Silk
Man-made Fibers
Others

By Application Type:

Residential
Commercial

By Sales Channel:

Hypermarkets/Supermarkets
Independent Stores
Specialty Stores
Online Retailers
Direct Sales
Other Sales Channel

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Aerial Imaging Market is reaching US$ 10.5 Billion by 2032-FMI

According to a recent study done by Future Market Insights, the Aerial Imaging Market is expected to reach US$ 10.5 Billion by 2032, up from US$ 3.0 Billion in 2022, expanding at a high CAGR of 13.3%. This study explains that the Aerial Imaging companies are consistently focusing on developing advanced camera systems for a wide range of imaging applications. This factor is expected to fuel the market growth during the forecast period.

Major factors expected to accelerate the growth of the Aerial Imaging Market during the forecast period include rise in demand for aerial imaging in disaster risk reduction and prevention, surge in demand for varied commercial applications and use of aerial imaging technology in setting up 5G infrastructure.

Additionally, the adoption of aerial imagery services has increased owing to their various applications such as photogrammetric surveys, development of topographic maps, environmental studies, surveillance, and others. Increased application areas among various verticals, such as agriculture, forestry, energy & resource, and civil engineering. These are some other factors that will propel the market growth over the analysis period.

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List Of Key Players Covered in Aerial Imaging Market are:

Nearmap Ltd.
Eagle View Technologies Inc.
Digital Aerial Solutions LLC
Aerial Imaging Productions LLC
Cooper Aerial Surveys Co.
Landiscor Real Estate Mapping
Kucera International Inc.
GeoVantage
Inc. (Aeroptic LLC)
Global UAV Technologies Ltd. (High Eye Aerial Imaging Inc.)
Eagle Aerial Solutions
Aerobotics (Pty) Ltd.
Airobotics GmbH
SkyIMD Inc.

Key Takeaways from the Market Study

Global aerial imaging market was valued at US$ 3.0 Bn by 2022-end
The US to account for the highest value share of US$ 3.9 Bn of global market demand for Aerial Imaging Market in 2032
From 2015 to 2021, Aerial Imaging demand expanded at a CAGR of 13.9%
By Application, the Geospatial Technology constitutes the bulk of Aerial Imaging market with a CAGR of 14.2%.

“Increasing research and development activities as well as rising demand from the emerging economies is a major factor that is expected to flourish the growth of the aerial imaging market during the forecast period,” remarks an FMI analyst.

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Competitive Landscape

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

In January 2022, Iris Automation, Doosan Mobility Innovation (DMI), and Drone America agreed to use Doosan’s hydrogen fuel cell technology to explore feasibility and opportunities for long-range autonomous unmanned aerial vehicles (UAV).
In December 2021, the US Navy and Boeing initiated the testing phase of the MQ-25 T1 test asset, an unmanned aerial refueler. The first test successfully ensured the possible future integration of unmanned vehicles for refueling purposes in military operations.
In July 2021, senseFly, a leading provider of fixed-wing mapping drones, announced the launch of eBee TAC, an advanced fixed-wing Unmanned Aircraft System (UAS) designed for covert tactical mapping operations in security defense and governmental sectors. The eBee TAC provides active field personnel access for reliable and accurate location data and maps, offering field intelligence and situational awareness required to act with confidence and precision across rapidly-changing environments.

Know More About What the Aerial Imaging Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Aerial Imaging Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Aerial Imaging Market, the market is segmented on the basis of application, and end-use industry across five major regions.

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About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Detailed Table of Content:

Preface
- Market Definition and Scope
- Market Segmentation
- Key Research Objectives
- Research Highlights
Assumptions and Research Methodology
Executive Summary : Global Aerial Imaging Market
Market Overview
- Market Dynamics
  - Drivers
  - Restraints
  - Opportunity
- Key Market Trends
Global Aerial Imaging Market Analysis and Forecasts, By End-use Industry
- Introduction & Definition
- Market Size (US$ Mn) Forecast, By End-use Industry
  - Government, 2015 – 2032 (US$ Mn)
  - Commercial Enterprises, 2015 – 2032 (US$ Mn)
  - Civil Engineering Industry, 2015 – 2032 (US$ Mn)
  - Military, 2015 – 2032 (US$ Mn)
  - Forestry and Agriculture, 2015 – 2032 (US$ Mn)
  - Energy Sector, 2015 – 2032 (US$ Mn)
  - Insurance, 2015 – 2032 (US$ Mn)
  - Global Aerial Imaging Market Analysis and Forecasts, By Application
    - Introduction & Definition
    - Market Size (US$ Mn) Forecast, By Application
      - Energy, 2015 – 2032 (US$ Mn)
      - Geospatial Technology, 2015 – 2032 (US$ Mn)
      - Natural Resources Management, 2015 – 2032 (US$ Mn)
      - Construction & Development, 2015 – 2032 (US$ Mn)
      - Disaster Response Management, 2015 – 2032 (US$ Mn)
      - Defense & Intelligence, 2015 – 2032 (US$ Mn)
      - Conservation & Research, 2015 – 2032 (US$ Mn)
      - Media & Entertainment, 2015 – 2032 (US$ Mn)

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Chatbot Market is anticipated to have a prodigious CAGR of 21.8% during 2022-2032-FMI

The global chatbot market is anticipated to reach a valuation of US$ 4.2 Bn by 2032 from US$ 580.3 Mn in 2022, rising at a CAGR of 21.8% throughout the forecast period. In 2020, the chatbot market was projected to have a modest slowdown due to the worldwide shutdown. The COVID-19 epidemic has shook almost every business, causing a surge in turnover.

Despite the fact that crucial items are exempt from the lockdown, the shortage of workers to operate on manufacturing lines, supply networks, and transportation has a negative impact on the availability of vital commodities. The issue is likely to be under control by early 2021, with demand for chatbot solutions and services expected to surge as businesses attempt to improve customer experience and build tailored relationships with prospects.

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A wide variety of chatbot solutions and services will be used by a variety of industries to support digital transformation programs that address mission-critical procedures, improve operations, and differentiate customer viewing experiences. Reduced operating costs, improved customer experiences, resolution of customer problems, increased visibility into processes and operations, and improved real-time decision-making are all expected to drive the chatbot market adoption trends.

Lack of awareness and problems associated with management change may have an impact on chatbot market growth to some extent. Though chatbot solutions are becoming more popular in a variety of industries, issues with successful implementation and a lack of understanding of the benefits given by AI-powered chatbot solutions may hinder their acceptance in developing regions such as Latin America and Africa.

Furthermore, large enterprises are at the forefront of using chatbot solutions; however, SMEs have limited acceptance of the same due to the costs involved with their upkeep and a lack of experienced people. However, as SMEs become more aware of chatbot solutions, the usage of chatbot solutions is projected to increase in future years.

As per the global chatbot market study, self-learning bots with data-driven behaviour are powered by NLP technology and self-learning capabilities (supervised machine learning) and can provide more human-like and natural communication; they also learn from their own mistakes.

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Key Takeaways

The US chatbot market is expected to rise rapidly at a high CAGR of 26.8% throughout the forecast period.
During the projected period, APAC is expected to grow at the fastest rate. APAC countries are technologically advanced and provide significant investment and income prospects.
In terms of market size, the standalone segment dominated the chatbot market in 2020, accounting for 56.9% of total revenue.
The mobile segment is expected to grow at a CAGR of 24.1% throughout the forecast period.

Competitive Landscape

Key Players

Meta
Alphabet
Haptik Inc.
Helpshift

Recent Developments

Kore.ai introduced a Virtual Assistant Platform in Japanese in February 2021. The Kore virtual assistant platform was published in Japanese to better address the demands of the Japanese market and to expedite the adoption of virtual assistants. This will aid enterprise customers in shortening time-to-market and improving customer experience in their local tongue.

Saykara, Inc., a like-minded business focusing on building a mobile AI assistant to automate clinical paperwork for physicians, was acquired by Nuance in February 2021. Nuance’s continued market expansion and technological leadership in conversational AI and ambient clinical intelligence (ACI) solutions that minimize clinician burnout, improve patient experiences, and improve overall health system financial integrity are highlighted by this purchase.

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Key Segments

By Platform:

Mobile-Based
Stand alone
Mobile

By Enterprise Size:

Small & Medium Enterprise
Large Enterprise

By Region:

North America
South America
Europe
Asia Pacific
Middle East & Africa

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Bounding Table Market is Set to Witness A CAGR of 6.1%- 6.9% During 2021-2031

The bounding table comes in solid fabric device that is stretched over a steel frame with the help of coiled springs and taut pieces. These are widely used by individuals for recreational and competitive purposes.

Furthermore, the bounding table has a folding mechanism that helps to carry the bounding table from one place to another. As a result, demand for these table will witness steady recovery in short-term, with an optimistic growth outlook in the long-run.

Bounding table market is set to witness a CAGR of 6.1%- 6.9% during 2021-2031.

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What is Driving Demand for Bounding Table Market?

Growing awareness among individuals about the various health benefits associated with the bounding activity such as improved lung capacity, increased energy levels, improved muscle tone, strengthen heart, lymphatic system function, and others. This is primary factor expected to boost growth of the global market over the forecast period.

In addition, there is an increase in the adoption of recreational bounding table in many places including playgrounds, schools, gyms, homes, adult health clubs and others which, in turn, is driving the demand for bounding table. Moreover, growing preference for competitive bounding table among athletes for trampolining Olympic sport are major factor projected to fuel growth of the target market during the forecast period.

However, the COVID-19 pandemic has dramatically changed the preferences of an individual’s social interaction which has reduced the demand for bounding tables. Various factors such as temporary pause of trading between countries, lack of employees, and raw material has affected the production capacity, therefore, impacted the sales of bounding tables.

New Product Development Complementing the Bounding Table Market Sales

The use of the bounding tables is not just limited to recreational activities but manufacturers are looking for new ways to enter the market with innovative products.

As a result, smart bounding table are entering the market, providing customers with a learning and interactive experience. For instance, Spring Free has developed a smart bounding table called Spring Free, which has sensors attached to its mat that helps improve coordination and creative thinking skills while exercising. Smart bounding table also offers water and weather resistance, child safety technology, and other features such as leaderboards.

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In addition, the penetration of e-commerce platforms all around the globe drive the growth of the bounding table market. Online store has turned out to be convenient way to buy products and services. Furthermore, shopping from e-commerce platforms is less costly as the costs associated with market intermediaries on online shopping sites are lower.

For this reason, online stores offer bounding table at lower prices, thereby increasing the demand for bounding table on e-commerce platforms. Bounding table manufacturers like Spring Free, JumpSports, Plum Products, and Upper Bounce have started partnering with various online retail stores around the world to escalate their customer base.

US and Canada Bounding Table Market Outlook

In the U.S, the bounding table market is booming over the past few years and is expected to rise owing to spurring consumer’s income and their spending capacity.

Due to the high popularity of the Olympic trampoline sport and the growing number of athletes in the region in countries such as the U.S and Canada, the North American market has the highest revenue share in the global market.

Further, the growing number of parks across the region is a major factor driving the uptake in the global bounding table market.

Europe Demand Outlook for Bounding Table Market

The demand for bounding table in the European market is estimated to grow significantly in the upcoming years. High adoption of residential bounding table among parents due to increasing children obesity concern and high health consciousness among individuals in countries such as Germany and U.K in the region is expected to drive the demand for bounding table in the market.

In addition, the rapid growth of the e-commerce industry in the region creates lucrative market opportunities for producers to enter the market to gain a competitive market share, thus leading to product demand.

Who are the Key Manufacturers of Bounding Table Market?

Some of the leading manufacturers of bounding table market

JumpSport, Inc.
Skywalker
Pure Fun
Vuly
Domi Jump. Inc
Stamina Products, Inc.
Airmaster Trampoline
Upper Bounce
Luna
Springfree Trampoline Inc.
Jump King
Plum Products
Fourstar among others

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.

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Key Segments

By Bounding Type:

Mini Bounding Table
Medium Bounding Table
Large Bounding Table

By Application:

Residential Use
Commercial
- Schools
- Gyms
- Amusement Place
- Playground
- Adult Health Club
- Others

By Sales Channel :

Hypermarkets/Supermarkets
Independent Stores
Specialty Stores
Multi-brand Stores
Online Retailers
Direct Sales
Other Sales Channel

Women’s Watch Market Is Set to Witness a Steady Rise at A CAGR of 6.1% Through 2031

oreover, women have watches according to shades of cloths which fuels the global women’s watch market during the forecast period. Also, new watch launches by key players like Rado, Audemars Piguet, Louis Vuitton, and fossil are assumed to give a positive impact on the women’s watch market As a result, the women’s watch market is set to witness a steady rise at a CAGR of 6.1% during the forecast period

Watch has become a major fashion accessory among women and also shows the status symbol in society which is propelling the demand for women watch.

What is Driving Demand for Women’s Watch?

The rise in the number of working women has accelerated the sales of women’s watches across the globe. Also, the increase in innovative and customized designs is anticipated to drive the market in the next few years.

Usage of women watch is no longer limited to offices and functions. Women wear these watches as a fashion statement. Moreover, watches are gifted on various occasions or events like birthdays and anniversaries. This consumption behaviour is expected to positively impact market growth.

Furthermore, the trend of smartwatches among women nowadays drives the women’s watch market. Many prominent key players in the women’s watch industry include Withings Steel, Fitbit Versa Smart Watch, are investing in the research and development sector for introducing smartwatches with a more efficient battery, excellent performance and advance features like connect with GPS, receive calls and texts.

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Many players are principally engaged in introducing varieties of attractive designs at affordable prices. This innovation and new launch gives the opportunity to the customers to choose the watch according to their budget and also encourage other players to invest in this sector which drives the market during the forecast period.

Introduction of Smart Feature Along with the Growing Health Awareness are Likely to Augment Women’s Watch Sales

Growing awareness regarding health among women all around the globe has resulted in the raised women’s spending on health care gadgets, which has further lead the market of smartwatches. This smartwatch has multiple features like walk tracking, analyze heartbeat rate, connect with smartphones and other advanced applications which has raised the sales of women’s smartwatches.

For instance, Fossile launched Gen 4 Venture, an impressive watch for women. Apart from good looks, this watch offers extra features to the customers like recording the activity done by the women as well as the Calories burned while doing physical activity. These watches can be used as a sleep monitoring device. All these advanced features offered by manufacturers are anticipated to drive the demand for jewellery over the forecast period.

Impact of COVID-19 on Women’s Watch Market

Due to the COVID-19 pandemic, the demand for women watches was affected severely, as the pandemic resulted in the closure of showrooms and shops which affected the market in the long run.

However, taking advantage of the prevalent situation, many players in the market have introduced coronavirus detecting watches, which detects the coronavirus in women. For instance, Apple introduced the Apple Watch Series 6 in September 2020, in this smartwatch a sensor is installed which display the approximate value of the blood oxygen and pulse rate.

US and Canada Women’s Watch Market Outlook

The ladies of the United States and Canada are technologically outstanding and have a higher mission for strong advancements with a vision to make life simpler. Young ladies in the region are more aware of smart technology which has increased the demand for smartwatches in the region.

Moreover, for expanding the product portfolio of smartwatches in the region, many prominent players like Zelos, Shreve & Co., VANNA and Fossil continuously launching smartwatches at different price ranges.

For instance, Fossil launched a smartwatch that keeps the record of the user physical activity and also monitors the heartbeat and the blood pressure of the person. This helps the player to strengthen their presence in the regional market.

Europe Demand Outlook for Women’s Watch

According to the report of BMI in 2019, 37% to 58% women in Italy and Croatia suffer from obesity, which is increasing the demand for health gadgets like fitness band/watch in the European market.

The growing popularity of fitness watches among women, which also helps in recording body activity like cycling, swimming laps, daily steps, sleeping pattern, pulse rate and blood pressure. These advanced features encourage women to buy a smartwatch to accessing their regular activates including calories intake. Furthermore, the rising income of people enabling them to buy such smart products which also meet their requirements and desires.

Moreover, with an aim of business expansion and growing business portfolio, players are creating a partnership with the regional distributors to get feedback from the customers and fulfil the demands of the customers. This helps the players to generate more revenue.

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Who are the Key Manufacturers and Suppliers of Women’s Watch?

Some of the leading manufacturers and suppliers of ladies watches include

The Swatch Group Ltd,
Daniel Wellington,
Apple Inc.,
Helios,
BESPOKE UNIT, LLC.,
Rolex,
NEOBIAO,
realme.,
Vacheron Constantin,
Compagnie Financière Richemont SA,
Titan Company Limited.,
PATEK PHILIPPE SA,
Chanel, Xiaomi Global Community,
LVMH,
Bulgari’s,
Shreve & Co.,
CARTIER, FOSSIL GROUP, INC.,
Audemars Piguet,
VANNA, CITIZEN WATCH COMPANY OF AMERICA, INC.,
Dior, Harry Winston, Inc.,
Breguet, RADO WATCH CO. LTD.,
Ethos Watch Boutiques.,
Folli Follie Online.,
Louis Vuitton,
Hermès and many others.

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.

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Key Segments

By Product Types:

Mechanical
Smart
Other

By Price:

Under US$200
US$200-US$400
US$400-US$600
US$600- US$800
US$800 & above

By Distribution Channels:

Direct Sales
Hypermarkets/ Supermarkets
Specialty Stores
Online retailing
Others

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa

Directional Luminaire Market Is Set to Witness A CAGR of 6.9% Through 2031

Film industries such as Bollywood and Hollywood is a major contributor for market growth. In addition, the film industry hosts a number of award shows and events that use directional luminaire, which further promotes growth. As a result, directional luminaire market is set to witness a CAGR of 6.9% during 2021-2031.

What is Driving Demand for Directional Luminaire Market?

Rising adoption of lighting solutions for special purposes and the need for enhanced luminaire across entertainment, medical, and other major industries are leading market growth. Moreover, UV lamps are estimated to be a major growth driver for surface, air and water.

In addition, global events such as music concerts and the emerging entertainment industry are increasing the demand for directional luminaire solutions. Further, technological advances in IoT and smart lighting solutions are also expected to contribute to market growth. For instance, the smart light connected via an app is widely used in clubs and at events.

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The COVID-19 pandemic has slowed down the market growth due to lockdowns and curfews worldwide. However, the demand for medical lighting was increasing due to the construction of temporary hospitals and the demand for surgical and diagnostic facilities.

Many countries around the world were surpassing the number of hospital beds that needed to be stopped with the construction of new isolation and treatment wards and the procurement of more medical equipment and lighting which increased the demand for directional luminaire.

The Introduction of LEDs Complementing the Directional Luminaire Market Sales

The introduction of LED bulbs over halogen and incandescent bulbs has boosted the market growth due to less heating, cost saving features and longer life of LED lights. Further, the LED lights capture every aspect of lighting including smart specialty, architectural lighting and decorative lighting. They are more versatile and convenient to have a variety of fixture designs that create colours and patterns.

The demand for LED in directional luminaire is increasing due to its advantage in creating lightweight fixtures. Long shelf life is another major factor in the adoption of LED directional luminaire. Halogen and incandescent lights are prone to breakage and combine with prolonged use, while LED lights do not break due to the small glass frame fitted inside the fixture. In addition, they consume less energy than conventional lights. These factors drive the market for LED directional luminaire.

US and Canada Directional Luminaire Market Outlook

Directional Luminaire market holds the largest share in North America and is expected to lead the market in the forecast period. The reason for this growth is the presence of major lighting companies providing services to various sectors such as gardening, recreation, water purification, medicine, port and aquarium.

In addition, the rapidly growing end-use industries in the region, such as entertainment, are also increasing demand for the product. Moreover, strong health care system in the US and Canada contributes to the growing demand for surgical and test lighting.

Further, North America is famous for hosting major music festivals such as the Bonnaroo, Lollapalooza, Bumbershoot and the Electric Zoo Festival. Participation in music festivals and the rise of urbanization have driven the use of directional luminaire in entertainment lighting.

Europe Demand Outlook for Directional Luminaire Market

The demand for toothbrush sanitizer in the European market is estimated to grow significantly in the upcoming years due to rising usage of directional luminaire across several industries. Also, rising demand from the televisions series production entities, operas sets, and the film industry is contributing to the market growth.

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Who are the Key Manufacturers of Directional Luminaire Market?

Some of the leading manufacturers of directional luminaire market include

Holm
ERCO
Liton Lighting
Lighting Technologies
Getron Lichttechnologie
LIGMAN Lighting
kreon
UCOME LIGHTING
Luminii
JESCO LIGHTING
Dextra Lighting
Emium Lighting
Focus Industries

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Key Segments

By Product Type:

Recessed
Surface Mounted

By Application Type:

Residential Lighting
Public Lighting
Industrial Lighting
Commercial Lighting

By Sales Channel:

Hypermarkets/Supermarkets
Independent Stores
Specialty Stores
Multi-brand Stores
Online Retailers
Direct Sales
Other Sales Channel

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa

Bathroom Worktops Market is Set to Witness Steady Growth with A CAGR of 5% During The Forecast Period 2031

According to the latest research by Future Market Insights, the bathroom worktops market is set to witness steady growth with a CAGR of ~5% during the forecast period. The appeal of the home and bathroom décor among the general public is driving up the market for bathroom vanities.

Also, the usage of worktops in bathrooms is on the rise since they add beauty to space and the materials used in these worktops are water-resistant, preventing the spread of fungus and bacteria near the bathroom vanity and ensuring good hygiene.

What is Driving Demand for Bathroom Worktops?

Evolving end-user inclination towards eco-friendly products has raised the demand for creative decoration products made with various sustainable raw materials which do not contribute towards the epidemic such as deforestation. And that is why the rubberwood bathroom worktops are in trend. Rubberwood worktops are made from the waste part of the Hevea Brasilienesis rubber tree.

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This rubberwood is an ideal material for worktops in the bathroom as it is resistant to mold, fungi and moisture.

The surface of the rubberwood worktop is smooth which gives classic look to the bathroom. This material gives a natural appearance to a worktop in a yellowish-brown or pale cream colour. Also, this is economical in terms of price. Therefore, this raises the demand for natural bathroom vanity.

Furthermore, many conservationists use bathroom worktops made with recycled materials to decorate the bathroom without affecting the environment. For instance, many pro players like IceStone and Vetrazzo. Made worktops with recycled glass, bright chunks of glass, cement and other eco-friendly materials. This encourages other players to make bathroom vanity with natural and eco-friendly materials and generate more revenue.

Factors that Likely to Augment Bathroom Worktops Sales

The increasing demand for multifunctional bathrooms is expected to promote the increase in the sales of bathroom worktops made up of plywood, quartz, marble and granite. The worktop made up of marble is an evergreen material used in the bathroom which gives elegant look to the bathroom.

Majority of the people all around the globe prefer this marble material for a worktop in the bathroom.

Since quartz and graphite are durable and have good tensile strength, therefore, the demand for worktops made with quartz and graphite is also more in the market. Bathroom worktops made with these materials is available in different color shades which gives options to the customers to choose worktops according to their needs. Also, it is easy to install worktops made up of quartz in tight spaces like the bathroom as compared to others.

Furthermore, many people prefer plywood for a worktop in the bathroom because this plywood does not move with the moisture, temperature change and humidity as solid wood moves. Also, this plywood is more stable in the long run. These are some factors that fuel the sale of bathroom vanity on a material basis.

Impact of COVID – 19 on Bathroom Worktops Market

The pandemic had a significant impact on the construction and renovation sector, which is sensitive to the economic cycle. During the first wave of COVID-19, the government of many countries announced the complete lockdown that paused the construction work that affects the market of the bathroom countertop.

Furthermore, during the second wave, people were allowed to do construction but with a limited workforce.

This factor slowly brings the market on track. Also, the restriction of import and export activates with other countries affects the supply of the worktop.

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The US and Canada Bathroom Worktops Market Outlook

The growing rate of house completion in the United States and Canada are expected to drive the market during the forecast period. Because in the new houses people prefer the best type of worktop in their bathroom, which open up an opportunity in front of players to expand their penetration in the US and Canada.

Furthermore, the raised in the expenditure on the retrofitting and remodelling of the existing washroom in the developed economy fuels the demand for bathroom worktops in the US and Canada. People who just want to renovate their house prefer a bathroom countertop, which gives beautiful look to their old bathroom at minimum cost.

Moreover, the growing purchasing power of the customers and the promotional strategies adopted by the players encourage customers to buy worktops from their brand. This bolsters the market growth of the bathroom countertop in the US and Canada.

Europe Demand Outlook for Bathroom Worktops

The demand for the washroom worktop is continuously growing in the European countries as the possessions of the houses is increasing in the region because of the high urbanization rate and growing population.

Furthermore, the availability of durable, aesthetic and advanced worktops has triggered the market of bathroom worktops in Europe. Also, the growing interest of the people towards the laminate countertops, ceramic, porcelain, or glass tiles for the worktop in the bathroom provide a good opportunity to the players to invest in the regional market.

Who are the Key Manufacturers and Suppliers of Bathroom Worktops?

Some of the leading manufacturers and suppliers of bathroom vanity tops include

Howden Joinery Ltd
Tom Howley
Wren Kitchens Limited
HARVEY JONES
IKEA Systems, Sheridan Ltd.
B.V. Smallbone
Symphony Group
Mark Wilkinson
Lunastone
Ashley Ann Ltd.
The Diller Corporation
Stone of London Ltd
INFINITE Solid Surfaces
Houzz Inc.
Whitehall fabrication Ltd., and many others.

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Key Segments

By Material Type:

Granite
Quartz
Marble
Solid Wood
Laminates
Others

By Application:

Commercial
Residential

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa