Market Research Blog – Page 9840 – New Product Development

Pet Care Market Worth US$ 338.5 Bn by 2031 – Exclusive Report by FMI

The global pet care market size is set to enjoy a valuation of US$ 199 Bn in 2022, and further expand at a high CAGR of 6.1% to reach US$ 338.5 Bn by the year 2031.

Pet owners are now more cautious when choosing food options for their pets as a result of growing public awareness regarding the substances used in pet food products. The health advantages of using natural and organic components in pet care products are known to pet owners.

The demand for organic and natural formulations has benefited from this. Pet owners favour goods that offer a balanced nutritional profile for animals while being devoid of artificial colours and preservatives.

According to a research by the Association for Pet Obesity Prevention, 55 percent of dogs and cats in the United States are thought to be fat. The possibility to offer value-added products with high-quality ingredients and diet research is enormous given the increased customer interest in luxury goods.

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Product introductions with high-quality ingredients that provide value enhance the market for pet care products, which promotes long-term growth prospects. Companies in the market are increasing their selections to include natural and organic products in order to capitalise on this widespread trend.

For instance, the Kroger Co. offers natural food products for pets with proteins and essential nutrients. Besides, GMO (genetically organism free) food products are also available for pets in the market.

The rise in the number of pet owners and the growing awareness of veterinary health and investments into animal health organizations are swiftly boosting the prospects of manufacturers through the upcoming decade.

Key Takeaways from the Pet Care Market Study

Pet food is expected to hold a noteworthy revenue share of over 65% of all product sales. The growth is attributed to the demand for premium, natural, and organic ingredients.
Pet care for dogs is expected to contribute revenue share of 35.1% in 2021. The role of dogs as companions and the resulting humanization drives associated sales.
The U.S. leads the North America market accounting for 90% value share by 2031 owing to higher purchasing power.
The U.K. accounts for more than 25% of the Europe market with concerns over pet health and investments into product innovation.
China and South Korea are considered high growth markets for pet care in East Asia, reflecting a CAGR of over 14% with the penetration of key players with premium products.

“Growing acceptance of technologically advanced automated pet care products, and increasing expenditure driven by trends of pet humanization will influence the revenue generation opportunities in the pet care market through 2031,” says an FMI analyst.

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Impact of COVID-19 on the Market

A downturn in the economy has been brought on by the new coronavirus outbreak due to disruptions in business operations across a number of industries. One of the areas most severely impacted by this crisis is the retail business. For the players, a brief hurdle is the overall reduction in discretionary spending.

Due to the temporary closure of numerous daycare centres and pet hotels, the overall revenue of the pet care business has temporarily decreased. Due to this circumstance, players are increasingly concentrating on increasing their internet penetration, since doing so gives them the chance to instantly reach a larger consumer base while spending the least amount of money possible.

Who is Winning?

Major players present in the pet care market are focusing on aggressive promotional strategies, advertisements, and new product launches have driven sales growth of pet care products and services globally.

Some of the leading players in the industry are Procter & Gamble Co., JM Smucker Co, Nestlé Purina Pet Care Co, Monge & C. Spa, Hill’s Pet Nutrition SNC, Royal Canin SAS, Affinity Petcare France SA, Champion Pet Foods LP, Cargill, C & D Foods, Aller Petfood, Bob Martin, Blue Buffalo Co. Ltd., Cambrian Pet Foods Ltd., Crosswind Industries Inc., and Crown Pet Foods Ltd., among others.

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Key Segments of Pet Care Industry Survey

Pet Care Market by Service:

Pet Care Products
- Pet Food
- Pet Healthcare
- Fashion, Toys, and Accessories
Pet Care Professional Services
- Day Care
- Grooming Boarding
- Pet Breeding and Training
Pet Care Value Added Services
- Insurance
- Veterinary Care
- Pharmacies
- Adoption and Charity
Pet Care Crisis Relief Services

Pet Care Market by Pet Type:

Dogs
Cats
Birds
Fish and Reptiles
Small Pets
Horses & Other Livestock

Pet Care Market by Service Channel:

Modern Trade
Convenience Stores
Care Services Centres
Veterinary Clinics
Online Retails
Support Care Centres
Pet Specialty Stores

Pet Care Market by Region:

North America Pet Care Market
Latin America Pet Care Market
Europe Pet Care Market
East Asia Pet Care Market
South Asia & Pacific Pet Care Market
Middle East & Africa (MEA) Pet Care Market

Frequently Asked Questions

What is the present valuation of the global pet care market?
Which is the most lucrative regional market for pet care services?
Which countries drive most demand for pet care services?
Which prime pet care market players are profiled in this analysis?
What is the pet care market predicted to be worth by 2031?
At what pace is the pet care market expected to increase over the coming years?

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

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Bicycle Bags and Bag-packs Market is Predicted to Grow at 5.8% CAGR Through 2029

The bicycle bags and bag-packs market size is projected to reach a valuation of US$ 489.5 Mn in 2022, likely to surge at a vigorous 5.8% CAGR from 2022 – 2029

There is a significant increase in bicycle long tours among the young population worldwide. Growing cycle tourism and long tours for a social cause are the major reasons for the increase in the number of bicycle long tours. Long tours demand for various types of carrier bags to carry the essential things for the journey. Cycle carrier bags are specifically designed to be mounted onto bicycle frame so as to relieve the cyclists from carrying weight on his back.

Cycle carrier bags lowers the centre of gravity of the bicycle that makes controlling the bicycle much easier with compact transportation of the gear such as food, clothing, and biking tools. Consequently, there is a growing demand for cycle carrier bags globally.

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Key Takeaways from the Bicycle Bags and Bag-packs Market Study

Asia Pacific region is at forefront for cycling globalization. There is a considerable young population in this region. The benefits of cycling to maintain a healthy lifestyle is a major factor influencing the millennial. Government in this regions are taking initiatives to promote cycling activities such as development of cycling tracks, cycle sharing spots, and arranging cycling events.According to Union Cycliste Internationale (UCI), Asia region is extremely active in hosting major cycling events. Currently, there are 40 UCI Continental Teams registered in Asia, which is more than twice of 2009 having 17 teams.

Also, a significant number of manufacturers of bicycle bags and bag-packs is present in this region. Considering all these factors, Asia Pacific regions holds potential opportunities for bicycle bags and bag-packs market. Association of manufacturers with governmental initiatives is anticipates to generate new opportunities in this region.E-commerce sales channel is estimated to generate high revenue in the forecasted years for the bicycle bags and bag-packs market owing to increasing internet usage among consumers.

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“Manufacturers are developing bicycle bags and bag-packs by targeting the growing number of women cyclists such that the bags cater its basic function in a fashionable way. The low awareness among consumers about Bicycle Bags and Bag-packs when compared with other personal care products is major barrier of the market growth. Consequently, effective advertising is essential for the rapid growth of bicycle bags and bag-packs market.” says an FMI analyst.

Celebrity Endorsement to Inspire Consumer’s Buying Behaviour

An emerging trend in the bicycle bags and bag-packs market is the increasing number of key players appointing various celebrities from the field of sports and films to endorse their products, with an objective to influence consumers to adopt the same. This is winning trust of the customers and attracting them to use of bicycle bags and bag-packs instead of conventional bags.

Who is winning?

Some of the key players operating in the bicycle bags and bag-packs market are as Shimano, Inc., Giant Manufacturing Co., Ltd., Merida Industry Co Ltd., Wiggle Ltd., BROOKS ENGLAND, Recreational Equipment, Inc., Ortlieb USA, Topeak, Trek Bicycle Corporation, Velotransit, MAINSTREAM-MSX, Madden Equipment, Lone Peak Packs, Inertia Designs, Deuter Sport GmbH, and others. Several leading market players are engaged in partnership with other companies to increase their product offering across the world. Moreover, companies are engaged in celebrity endorsement and product innovation.

For instance, the BLS Group features famous professional cyclists such as Mariske Strauss, Nate Koch, and Jolien D’hoore as brand ambassadors.

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BICYCLE BAGS AND BAG-PACKS MARKET TAXONOMY

The global bicycle bags and bag-packs market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Product Type

Cycle Carrier Bags
Bag-packs

Sales Channel

Offline
- Specialty Bicycle Retailers
- Full Line Sporting Goods Stores
- Department & Others
Online

Region

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

Heated Jacket Market is Predicted to Grow at 17.6% CAGR Through 2032

The heated jacket market size is projected to reach a valuation of US$ 231.3 Mn in 2022, likely to surge at a vigorous 17.6% CAGR during Forecast 2022 – 2027. The survey claims that the demand for heated jackets is being driven by an increase in millennials’ involvement in winter outdoor sports including skiing, hiking, and trekking.

The research provides a thorough analysis of the industry, outlining the major growth drivers, inhibitors, opportunities, and current trends. It offers the most precise analysis of the market via the use of original research techniques.

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It includes in-depth insights into the heated jacket market. Some of these are:

The estimated value of the heated jacket market was at ~US$ 77.7 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a substantial growth. Regionally, North America dominates the heated jacket market globally attributed to high adoption of heated jackets among hikers, cyclists, and other winter sports enthusiastic people. East Asia emerges as one of key markets owing to rise in demand for fashionable products, increasing participation in outdoor activities, and consumers in the region are highly influencing by western culture.

Rapidly emergence of online retailers’ sales channel is expected to boost the sales of heated jacket over the forecast period. Prominent players in the market are focuses on new product development, innovative marketing campaigns, promotional activities, collaborative partnership with sports influencers and celebrities to increase their brand penetration along with expand market footprint to have a competitive edge among their competitors.

Rise in Demand for High Power Heated Jacket among Consumers

Based on the power type, the 5-7 volt is expected to be the leading markets in the global heated jacket over the forecast period. 5-7 volt power type heated jackets are mostly preferred by consumers as it offers long lasting warmth, significant temperature level, and provide low, medium, and high heat settings are the primary factors expected to exhibit a significant growth in the global heated jacket market during the forecast period.

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Furthermore, the 7 volt power type heated jacket lasts for 10 to 11 hours and they are light weight, easy-grip shape as well as comfortable propel the global heated jacket market for further growth. However, 7-20 volt heated jacket segment is expected to expand at higher CAGR during the forecast, as these type of heated jacket heats up considerably faster than other heated jacket types.

Who is Winning?

Some of the leading players operating in the heated jacket market are Milwaukee Electric Tool Corporation, Kelvin Coats, Ororo, DEWALT, H2C Brands, LLC, Venture Heated Clothing Company, Robert Bosch Tool Corporation, Heated Wear Gerbing Gyde Company, Dragon Heatwear Company, Outcool, AdirPro, Comfortwear International, Inc., Fieldsheer Company, Climix Heated Jackets Company, Knap Energy Heated Jacket, Pau1Hami1ton, Xiaomi Corporation, Redder, PROsmart Heated Clothing Company, Ravean, and others. These manufacturers are continuously investing on research and development activities to develop light weight, comfortable heated jacket with high power capacity for cold weather workers and for various outdoor activities as well as winter sports.

Moreover, increasing their sales channel across the globe through strategic partnership, with small scale vendors, innovative marketing strategies, various certifications, and enter into online platform remains the most prominent strategy among the key manufacturers in the market. Companies intend to expand their geographical footprint through collaborating with local players.

In 2019, Xiaomi Corporation introduced a new cotton smith heated down jacket specially designed for the winter. This new heated jacket will keep consumer warm during extremely cold weather with a temperature around -120 degree Celsius.In 2019, Kelvin Coats launched a new line of fashionable heated puffer coats with advanced warming technology to expand its product offering as well as offer most appealing and stylish heated apparel to the customers.

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Market SegmentationThe global heated jacket market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

End-User

Men
Women

Power Type

Below 5 Volt
5-7 Volt
7-20 Volt

Size

Small
Medium
Large
XL (Excel)
2XL (Double Excel)

Application

Leisure
Industrial/ Construction
DIY
Other Applications

Sales Channel

Wholesalers/Distributors
Hypermarkets/Supermarkets
Multi-Brand Stores
Exclusive Stores
Independent Small Stores
Online Retailers
Other Sales Channels

Region

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

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Baby Cribs Market is Projected to Reach US$ 4.77 Bn by The End of 2032

The global baby cribs market size is expected to reach US$ 4.77 Bn by the end of 2032. According to a study by Future Market Insights (FMI), the market will show a steady rise at a CAGR of ~6.50% between 2022 and 2032.

According to the report, rise in birth rates in developing countries and rapidly growing demand for baby safety products drives demand for baby cribs across the globe. The report offers a comprehensive view of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

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It includes in-depth insights into the baby cribs market. Some of these are:

The estimated value of the baby cribs market was at ~US$ 1.35 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
Regionally, North America dominates the baby cribs market globally attributed to increasing number of nuclear families led to expanding demand for baby safety products, as parents are now becoming more concerned about keeping baby alone on the bed.
East Asia emerges as one of key markets owing to rise in per capita spending on baby care products such as monitors, strollers, cribs, and cots coupled with accelerating demand for eco-friendly products in the region.
Rapidly growing online retailers’ sales channel is expected to boost the sales of baby cribs over the forecast period.
Companies in the market are evaluating consumer purchase pattern to understand the growing baby furniture trend. The company’s focus remains on introducing multi-purpose baby cribs that come environmental friendly features.

Rise in Demand for Multifunctional Baby Cribs among Consumers

Based on the product type, the convertible is expected to be the most attractive segment in the baby cribs market over the forecast period. Convertible type of baby cribs are mostly preferred by consumers as that are cost effective, high durability, and can be easily detachable bed rails is the primary factor expected to exhibit a significant growth in the global baby cribs market during the forecast period.

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Furthermore, advantages associated with baby cribs such as safety, comfort accommodation, peaceful sleep, and most important consumers are seeking for baby cribs designed that can be expand as the baby grows propel the global baby cribs market for further growth. However, multifunctional baby cribs segment is expected to expand at higher CAGR during the forecast, as these type of baby cribs are designed with all the necessary and improved features such as built-in drawers as well as changing area.

Who is Winning?

Some of the leading players operating in the baby cribs market are Goodbaby International Holdings Ltd., Delta Enterprise Corp., Silver Cross, Artsana S.p.A., Fisher-Price Inc., Graco, Inc., Arm’s Reach Concepts, Inc., Million Dollar Baby Co., Dream On Me, Inc., Storkcraft, Sorelle Furniture, BabyBjorn, Chicco, Natart Juvenile, Inc., Baby’s Dream Furniture Inc., East Coast Nursery Ltd., Kolcraft Enterprises Inc., DaVinci Baby, Mamas & Papas, Bababou, Me n Moms, Stokke AS, and others.

These manufacturers are investing significantly on research and development activities to achieve various certifications and introduce environmental friendly products to meet growing consumer requirements for sustainable materials such as non-toxic paints used in developing baby cribs.

Moreover, expanding domestic distribution channel, strategic partnership, acquiring small scale companies, innovative marketing strategies, celebrity endowment, and enter into online platform remains the most popular strategy among the prominent players in the market. Companies intend to expand their geographical footprint through collaborating with local players.

In 2018, Goodbaby International Holdings Ltd. was recognized with The Juvenile Products Manufacturers Association (JPMA) awards for four different innovations.
In 2018, Bababou introduced Hugg Co-sleeping baby crib in Ireland. The company’s Hugg Co. sleeper baby bed is an organic, sustainable baby crib which was recognized with various awards such as Junior Design Awards for the best Co-sleeping Cot/Crib/ Pod/Bassinet Design.

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Baby Cribs Market by Category

Product:

Standard
Portable
Convertible
Bassinet
Travel
Multifunctional
Others

Price Range:

Economy
Mid-Range
Premium

Material:

Plastic
Metal
Wood
Others

Sales Channel:

Direct Sales
Modern Trade
Convenience Stores
Departmental Stores
Specialty Stores
Mono Brand Stores
Online Retailers
Drug Stores
Other Sales Channels

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Key Questions Answered in the Report

How much is the current worth of the baby cribs?
What was the sales of baby cribs between 2015 and 2021?
What is a key trend shaping the growth of the baby cribs market?
Which are the most prominent regions leading the baby cribs market?
What was the demand outlook for baby cribs market in Japan?

Baby Powder Market is Predicted to Grow at 5.20% CAGR Through 2032

The global Baby Powder Market size is anticipated to surpass a valuation of US$ 1.44 Bn through 2029 and increase at a rate of around 5.20% CAGR. Significant market tailwinds are being produced by consumers’ shifting preferences for organic components in baby talc. As a result, the market’s overall revenues increased 5% in 2022 over the previous year.

Numerous research over the previous few years have suggested that talcum powder poisoning can occur when talc-based baby powder is breathed. When talc is ingested, symptoms include fever, coughing, twitching, difficulty breathing, collapsing, convulsions, and even death. As a result, producers are substituting plant-based ingredients such cornstarch, arrowroot, rice powder, baking soda, and tapioca starch for talcum as the foundation component.

For instance, Johnson & Johnson Company, the market leader in baby powder, expanded their line of products by introducing three variants of baby powder that are corn-starch-based.

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Key Takeaways of Baby Powder Market Study

Talc-based baby powder was a dominant segment in the market. However, corn-starch-based baby powder is expected to gain considerable traction during the forecast period, attributable to perception of corn-starch as a safer and organic ingredient with relatively larger particles as compared to talc.
North America and Europe combined account about 50 percent of market share in global baby powder market owing to high penetration rate in these regions.
The premium price products segment is estimated to witness a significant CAGR growth in the global baby powder market over the forecasted period, owing to premiumization of baby powders associated with high safety and quality standards.
The product availability of conventional baby powder is high in the market as compared to organic baby powder. Also, organic baby powder are relatively expensive. As a result, conventional baby powder has high sales.

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Developing Countries to Offer Lucrative Opportunities
For the past decade, developed countries dominated the baby powder market owing to product availability and awareness among consumers. However, this trend is shifting towards the emerging markets. Countries such as Niger, Uganda, and Nigeria, are anticipated to have the highest birth rates in the forecast period. Therefore, the Middle East and Africa is considered a highly lucrative market for manufacturers of baby powder.

Moreover, countries such as China and India have a massive population, out of which approximately 20% are babies. Generating general awareness among the population in such developing countries is expected to create numerous opportunities in the current market scenario.

Who is Winning?
Some of the key players operating in the baby powder market are Artsana Group, Asahi Group Foods Ltd., The Burt’s Bees, California Baby, Chattem, Inc., GLÜKi Organics, Johnson & Johnson, Kimberly-Clark Corp, Libero, Lion Corporation, Mamaearth, Mann & Schröder GmbH, Mee Mee, Mothercare, Oriflame Holding AG, Osotspa Company Limited, Pigeon, Prestige Consumer Healthcare, Inc., Procter & Gamble Co., PZ Cussons, Surefil an Abaco Partners Company, The Himalaya Drug Company, Wakoda, Wyeth, and others.

Several prominent and emerging market players are significantly investing in research and development activities to introduce new corn-starch based baby power. Besides this, global market players are acquiring the small scale and new entrants in the market those are offering either herbal products or organic products. They are also willing to spend more on promotion and marketing of products through pediatricians and doctors. This way consumers develop a belief on the safety of the products.

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Baby Powder Market By Category

Ingredient:

Talc-based
Corn-starch-based

Price:

Mass
Premium

Nature:

Conventional
Organic

Sales Channel:

Direct Sales
Modern Trade
Convenience Stores
Departmental Stores
Specialty Stores
Mono Brand Stores
Online Retailers
Drug Stores
Other Sales Channels

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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3D Printed Wearables Market to Display Impressive Growth of 6.5% with Rising Demand

The 3D printed wearable market size is estimated at US$ 3.6 Bn in 2022 and is projected to reach US$ 7.2 Bn by 2029, at a CAGR of 6.5% from 2014 to 2021.

According to the study, the 3D printed wearables industry remains influenced by manufacturers’ focus on partnerships with technology providers to eliminate traditional limitations for design innovations.

Sensing the potential and consumer demand for 3D printed wearables, manufacturers have introduced a wide range of products – from footwear and clothes to jewelry and sports accessories. The report finds that 3D printed footwear will remain the top-selling category, accounting for one-fourth market share.

3D printing is expected to be the future of bespoke fashion, making mass customization mainstream, while optimizing use of resources.

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3D printing holds significant potential in enhancing product developments in the wearables industry, enabling manufacturers to create prototypes and establish a proof of concept. Although high initial cost of 3D printers does remain a key concern, the low cost of operations and the convenience element are expected to offer long-term benefits for manufacturers.

According to the study, the footwear industry has taken the lead in the adoption of 3D printing technology, with product offerings that range from shoes to insoles with personalized design. This trend of custom-made solutions in the footwear industry is likely to encourage companies to improve their processes and realize measurable returns on their investment.

The role of 3D printing in revolutionizing the manufacturing process as a whole while enabling mass production of customized products, is expected to complement future growth of the 3D printed wearables market.

Stakeholders Vying for Untapped Opportunities in the Medical Sector

This study opines that the scope of 3D printing technology is extensive in the field of medical wearables, and has created opportunities hitherto unforeseen in surgical and medical fields. Research in this sector has been inclined towards making living tattoos that act as sensors, to making viable organs that could revolutionize the transplantation process and printing bacteria for potential applications in the medical field.

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The convenience of providing the accessibility of information to consumers, and tracking and monitoring their healthcare needs, is one of the leading aspects governing the attraction toward and adoption of medical wearables. This has led to a better understanding of conditions, for greater control over the end result. Even as the functionality of wearables increases, growing security risk is expected to be a major concern holding back the rate of progress in the field.

The study finds that 3D printed wearable manufacturers will benefit from of new solutions that feature mixed material printing. Key players in the market are partnering with engineers, mathematicians and architects for creating high-end 3D printed wearables for the future, which would feature added functionalities and improved accessibility to a wider array of data.

As more wearable manufacturers turn to 3D printing for accelerated production and waste reduction, gains in the market are expected to surge at a significant pace in the foreseeable future.

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According to the study, Europe and North America remain lucrative markets for 3D printed wearables, collectively accounting for ~70% shares. This can be attributed to a notable rise in the number of wearable startups, along with focus of key players on shifting their portfolio from fundamental wearables to smarter products with higher degrees of functionality.

The study offers a long-term forecast for the 3D printed wearables market for the period between 2021 and 2029. The 3D printed wearable market is projected to record a ~9% CAGR through 2029.

Frequently Asked Questions

What is the current 3D Printed Wearable market value?
At what rate did the global 3D Printed Wearable market grow between 2013 and 2021?
What are the key trends driving 3D Printed Wearable sales?
Who are the leading players in the global 3D Printed Wearable market?
What will be the demand outlook for the South Asia 3D Printed Wearable market?
What is the market share of the leading players operating in the 3D Printed Wearable market?
What is the 3D Printed Wearable demand outlook for Latin America?

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3D Audio Market is worth more than US$ 6.6 Bn at present

The 3D audio market revenues were estimated at US$ 6.6 Bn in 2021 and is anticipated to grow at a CAGR of 15.3% from 2022-2032, according to a recently published FMI report. By the end of 2032, the market is expected to reach US$ 31.9 Bn.

3D audio market is likely to observe a CAGR of 15.3% in the next ten years, fueled by the growing demand for 3D audio and its applications in a wide range of industries including automobiles, media and entertainment, and gaming. Commercial end-use of 3D audio is expected to garner traction, wherein gaming industry is expected to be pivotal towards the revenue expansion.

Key Takeaways from the Market Study

Global 3D audio market is expected to reach a market size of US$ 31.9 Bn by 2032.
In 2022, market value of 3D audio software is estimated at US$ 4.6 Bn.
Software also shows the highest potential for growth in the components segment. The segment is expected to grow at a CAGR of about 14.0% from 2022- 2032.
China, the key market is expected to hold the prominent market share and grow at a CAGR of 15.8% during 2022 – 2032.

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Who is winning?

Some of the key players present in the 3D audio market are 3D Sound Labs, Auro Technologies Inc, Dolby Labs, Hooke Audio, dearVR, Fraunhofer, Sennheiser electronic GmbH & Co., VisiSonics Corporation, Google, and Waves Audio Ltd. among others.

A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.

In Mar 2022, Sennheiser announce that it will focus on professional audio business. The company is confirmed expansion of their portfolio in pro audio and business communication unit.
In Feb 2022, Dolby Laboratories acquired Millicast, a developer platform providing ultra-low latency video streaming capabilities at a scale to massive audience.
In Feb 2022, Dear Reality released latest monitoring plugin dearRV MIX which suits for all professional studio headphones. It will strengthen the portfolio of the company technologically.
In Dec 2021, VisiSonics partnered with University of Maryland to pioneer 3D audiogram technology. It will have a wide range of application in gaming and military headsets.

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Market Segments Covered in 3D Audio Industry Analysis

By Components:

Hardware
- Loud Speaker
- Headphones
- Microphones/Mic
- Soundbars
- Others
Software
Services

By End-use:

Personal/in-house
- Mobile Devices
- Home Theater
- Gaming
Commercial
- Automobile
- Cinema
- Music
- Gaming
- Museum
- VR Concerts
- Others

By Region:

North America
Europe
Asia Pacific
MEA
South America

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About Us

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

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Cognitive Computing Market is anticipated to reach US$ 3.2 Trillion in 2032

According to a recent study done by FMI, the cognitive computing market is expected to reach US$ 3.2 Trillion by 2032, up from US$ 257.1 Billion in 2022, expanding at a high CAGR of 28.7%.

This study explains that the key factors such as the rise in big data analytics, developments of machine-to-machine technologies, and an increase in demand for a better customer experience are expected to propel the market growth during the forecast period.

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Rising concerns among all the major business organizations about analyzing large volumes of data, to estimate the risk associated with any strategic initiative is spurring adoption of cognitive computing.

Additionally, there is an increase in the demand for cognitive systems in large organizations and this is expected to increase in SMBs owing to cloud-based services. As cloud-based deployment decreases the cost of deploying cognitive computing in the organization, there is a subsequent rise in the overall demand for cloud-based services.

Besides, rise in big data analytics adoption, developments of machine-to-machine technologies, and an increase in demand for a better customer experience. In addition, industries such as BFSI, social websites, healthcare, and e-commerce have witnessed a rapid increase in transaction information and customer data. The aforementioned are factors expected to drive the growth of the market in the coming years.

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Key Takeaways from the Market Study

Global cognitive computing market was valued at US$ 257.1 Billion by 2022-end
The U.S to account for the highest value share of US$ 27.4 Billion of global market demand for cognitive computing market in 2032
From 2015 to 2021, cognitive computing demand expanded at a CAGR of 39.3%
By Deployment, the cloud category constitutes the bulk of cognitive computing market with a CAGR of 30.1%

Competitive Landscape
Players in the global Cognitive Computing 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 May 2020, Udacity, a virtual learning tutoring service, has announced the launch of a new AI healthcare plan. According to the digital educator, the new AI course teaches students about the use of AI in electronic health records, medical image processing, and other regions.
In December 2019, Accenture Inc., based in Ireland, has acquired Clarity Insights, deep data analytics and machine learning firm based in the United States, to enhance AI.
In September 2019, Schlumberger, Chevron, and Microsoft announced a partnership to accelerate new technologies. This collaboration was carried out in three stages, initiating with the adoption of the Petro technical Suite in the DELFI environment, achieved through the development of cloud-native applications on Azure, and subsequently with the co-innovation of a suite for cognitive computer processing native abilities.

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A list of Key Players Covered in the Cognitive Computing Market are:

3M
Google LLC
Hewlett Packard Enterprise Development LP
International Business Machines Corporation
Microsoft Corporation
Nuance Communications, Inc.
Oracle Corporation
SAP SE
SAS Institute Inc.
Tibco Software Inc.

Know More About What the Cognitive Computing Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Cognitive Computing Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.

Key Segments Covered In The Cognitive Computing Market Report

Cognitive Computing by Deployment:

On-Premise Cognitive Computing
Cloud Cognitive Computing

Cognitive Computing by Application:

Cognitive Computing in Diagnostic APIs
Cognitive Computing in Robots
Cognitive Computing in Cyber Security
Cognitive Computing in Farm Mechanization
Cognitive Computing in Social Media Monitoring
Cognitive Computing in Self-Driving Cars
Cognitive Computing in Gaming
Cognitive Computing in Video Surveillance
Cognitive Computing in e-Learning
Cognitive Computing in IT Infrastructure Management
Cognitive Computing in Supply Chain Management
Cognitive Computing in Other Application Areas

Cognitive Computing by Industry:

Cognitive Computing for Healthcare
Cognitive Computing for BFSI
Cognitive Computing for IT and Telecom
Cognitive Computing for Manufacturing
Cognitive Computing for Energy & Utility
Cognitive Computing for Retail
Cognitive Computing for Aerospace & Defense
Cognitive Computing for Government
Cognitive Computing for Transportation
Cognitive Computing for Agriculture
Cognitive Computing for Media & Entertainment
Cognitive Computing for Education
Cognitive Computing for Other Industries (HR, Marketing & PR, etc.)

Cognitive Computing by End User:

Cognitive Computing in Large Enterprises
Cognitive Computing in Small and Medium Enterprises (SMEs)
Cognitive Computing in Public Sector

Cognitive Computing by Region:

North America Cognitive Computing Market
South America Cognitive Computing Market
Europe Cognitive Computing Market
Asia Pacific Cognitive Computing Market
Middle East and Africa Cognitive Computing Market

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SD-WAN Security Market is expected to reach ~US$ 16.9 Bn by 2032

According to the SD-WAN security industry analysis by Future Market Insights (FMI), the adoption of SD-WAN security market is estimated to grow with a CAGR of 21.2% from 2022-2032.

The report states that the market is expected to reach the valuation of ~US$ 2.4 Bn by the end of 2022. As per FMI, as remote working became more widespread, employees are now required to connect from outside the corporate network. This has in turn fueled the demand for secure and reliable connectivity.

This can be challenging for businesses, as devices are progressively dispersed across multiple locations. Cloud-based services, applications, and platforms also make it strenuous, as employee networks may struggle to meet the scalability, flexibility, and speed of implementation required for daily functions.

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Key Takeaways: SD-WAN Security Market

By solution, the network firewall segment is anticipated to account for the leading share in the global demand for SD-WAN security during the forecast period. However, the DDoS detection and mitigation segment is estimated to grow at a robust CAGR of 21.7% through 2032.
Among the enterprise size, large enterprises segment is estimated to grow by 7.2X during the forecast period.
By Industry, the IT and telecom segment is anticipated to increase at a CAGR of 21.9% between 2022 & 2032.
North America region is dominating SD-WAN security market followed by Europe region in 2022. East Asia is estimated as the fastest growing region during the forecast period.
The market in U.S. is expected to progress at a CAGR of around 21.4% through 2032.
In China, the SD-WAN security market is expected to grow by 6.1x during the forecast period.
SD-WAN security market in India is estimated to witness the absolute $ opportunity of US$ 563.8 Mn during the forecast period.

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Increasing Demand from Enterprises to Improve Network Security

SD-WAN security provides enterprises a single control plane to supervise all networks, comprising data center, multiprotocol label switching and WAN. This strategy will be important as data migrates to multiple clouds and becomes subject to multiple security regimes. With a single view of all networks operations, the enterprise can make sure that security is totally organized across the whole distributed data ecosystem.

Increasing demand for total protection and control against cyber threats is escalating the SD-WAN security market, as SD-WAN security offers smooth and secure direct connectivity to cloud providers and endpoints, enhancing the cloud experience. It offers high levels of security to business, protecting data loss from unwanted intrusions.

More Valuable Insights on SD-WAN Security Market

Future Market Insight’s report on the SD-WAN security industry research is segmented into four major sections – solutions (network firewall, DDoS detection and mitigation, secure web gateways, session border controller (SBC), network encryption, and others), enterprise size (Small and Medium-sized Enterprises (SMEs), large enterprises), industry (IT & telecom, BFSI, healthcare, retail, manufacturing, government and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the SD-WAN security demand outlook.

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Conversation Intelligence Software Market is exhibiting a 7.2% CAGR from 2022-2032

The increasing demand for AI-powered customer support services, the global conversational intelligence software market is estimated at US$ 43.2 Billion, while expanding at a 7.2% CAGR from 2022 to 2032. The market is anticipated to garner USD 20.1 Billion in 2021 and USD 21.6 Billion in 2022. Growing demand for AI-based Gartner chatbots is likely to be another cause propelling the market growth.

With the outbreak of COVID-19, there has been a surged demand for AI-based chatbots to stay connected, thereby, benefitting the market. In addition, the growing deployment of omnichannel methods is likely to augment the market size in the assessment period. With the usage of automation, firms can achieve higher efficiency and lesser manual work.

According to LivePerson, a conversational AI solution provider, customers spend 80% of their time messaging through their devices. Also, there are about 57 billion conversations occurring globally in contact centers, and USD 1.2 trillion is spent on voice calls in centers across the globe.

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On the contrary, awareness of such technology is much lesser in developing nations as compared to developed nations. According to a recent study conducted by HubSpot, there is only 37% of AI awareness among consumers and 63% of consumers do not realize that they are using AI. However, the integration of new specifications such as gesture recognition is an emerging opportunity for the players, countering the market restraints.

Key Takeaways:

The global conversational intelligence software market to reach US$ 20.1 Billion in 2021.
The global conversational intelligence software market to garner US$ 43.2 Billion in 2032, exhibiting a 7.2% CAGR from 2022-2032
The cloud-based segment to record a 7.2% CAGR during the forecast period
The BFSI segment to expand at a 6.6% CAGR from 2022-2032
The U.S market to value US$ 15.5 Billion from 2022-2032
Market in China to flourish at a 6.6% CAGR, securing US$ 3 Billion by 2032

Competitive Analysis

Key players in the global conversational intelligence software market include CallRail Inc, AffectLayer Inc, Active.ai, Avaamo, and Avoma Inc among others.

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Recent developments among key players are:

In September 2021, Astro, a new robot was launched. It was specifically designed to assist customers with tasks like home monitoring and keeping in touch with family.
In September 2021, Baidu and China Gas Holdings signed agreement to enhance digital and intelligent transformation in the energy and power sector with unique solutions based on Baidu AI Cloud.

Key Segments Covered in the Conversation Intelligence Software Market Report

Conversation Intelligence Software by Deployment

On-premise Conversation Intelligence Software
Cloud-based Conversation Intelligence Software

Conversation Intelligence Software by End Users

Conversation Intelligence Software for SMEs
Conversation Intelligence Software for Large Enterprises

Conversation Intelligence Software by Vertical

Conversation Intelligence Software for IT & Telecommunications
Conversation Intelligence Software for Retail
Conversation Intelligence Software for BFSI
Conversation Intelligence Software for Real Estate
Conversation Intelligence Software for Other Verticals

Conversation Intelligence Software by Region

North America Conversation Intelligence Software Market
Europe Conversation Intelligence Software Market
Asia-Pacific Conversation Intelligence Software Market
Middle East & Africa Conversation Intelligence Software Market
Latin America Conversation Intelligence Software Market

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