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Fiber Optic Collimating Lens Market is projected at an 11.8% CAGR

The global fiber optics collimating lens market is estimated at US$ 2.1 Bn experiencing a growth rate of 11.8% from 2022 to 2032. The industry is valued at US$ 554 Mn and US$ 677.4 Mn in 2021 and 2022 respectively. The growing awareness about the benefits offered by aspheric lenses over the traditional lenses is projected to be the key factor driving the market in the forecast period. The rising investment in fiber optics is anticipated to augment the demand for fiber components, such as collimating lenses. The North American broadband service providers are likely to invest about US$ 60 Billion in fiber-to-the-home (FTTH) projects in the coming time. Besides, telecommunication, BFSI, healthcare, and the healthcare sector are expected to be significant consumers of a collimating lens, thereby, driving the market in the forecast period.

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Also, the advent of 5G networks is expected to expand revenue methods, thereby, escalating the market growth in the coming time. In addition, the telecommunication industry and the growing demand for handling heavy data in logistics and manufacturing are likely to offer remunerative opportunities for expansion. On the contrary, the high manufacturing cost of aspheric lenses and the usage of cheap copper internet wire are estimated to hinder the market growth.

Key Takeaways:

The global fiber collimating lens market is estimated at USD 2.1 Bn expanding at a CAGR of 11.8% from 2022 to 2032
The global fiber collimating lens market to value USD 677.4 Mn in 2022
The Single Mode Segment to expand at 10.5% during the forecast period
The Fixed Segment to record 10.5% from 2022 to 2032
The U.S market to value USD 660 Mn, expanding at 11.1% during the assessment period
Market in China to Value USD 151.9 Mn exhibiting a 10.9% growth rate

Competitive Landscape

Key players in the global fiber optics collimating lens market include AMS Technologies, IPG Photonics Corporation, Fabrinet, Thorlabs, Coherent, and others.

Recent key developments among players are:

In 2019, the new Coherent HighLight FL-ARM with a fiber-to-fiber switch was launched which is a high-power (2-8 kW), dual-fiber output laser that can sequentially power two separate processes or workstations.
In April 2021, Thorlabs rolled out a new passively Q-Switched laser producing 500 ps pulses centered at 1030 nm. The microjoule-level pulse energies produced at kHz repetition rates allow multiple applications, LIDAR, laser-induced breakdown spectroscope, and material processing.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global fiber optics collimating lens market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of by Type (Adjustable, Fixed), By Mode (Single Mode, Multi-Mode), By Wavelength (<1000 NM, 1000-1500 NM, 1500-2000 NM, >2000 NM), By Application (Communication, Medical Diagnostic & Imaging, Lasers and Detectors, Metrology, Spectroscopy and Microscopy, Others) By Lens Type (Aspheric Lenses, GRIN Lenses, Others) & Region (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa)

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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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Flight Data Monitoring and Analysis Market is projected to grow at a compound annual growth rate of 8.6%

The global flight data monitoring and analysis market is projected to grow from US$ 1.1 Bn in 2021 to US$ 1.2 Bn by 2022. The market is expected to reach US$ 2.7 Bn by 2032 while recording a CAGR of 8.6% during the forecast period from 2022 to 2032.

Growing demand for software to analyze flight data in the ground-based market drives the FDMA market. By utilizing FDMA, fuel consumption was improved, accident fatalities were decreased, maintenance costs were minimized, and aircrew training was enhanced.

Modern aircraft systems integrate software to boost performance, safety, and reduce maintenance costs. A growing number of data security concerns, along with an increasing number of blockchain systems and artificial intelligence and machine learning projects, are driving FDMA market growth.

FDMA has seen a further increase in market growth due to an increase in the demand for reducing fight accidents in order to save either material losses or insurance costs in the fight industry.

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Key Takeaways:

The global flight data monitoring and analysis market is currently valued at US$ 2.7 Bn, with a CAGR of 8.6% during the forecast period.
Japan is expected to record a CAGR of 11.4% between 2022 and 2032.
Civil flight data monitoring and analysis segment will grow at a CAGR of 9% during the forecast period
In China, the market is expected to reach US$ 35.4 million by the end of 2032 the forecast period.
The Brazilian market recorded a CAGR of 7.9% during the forecast period.

Competitive Landscape

Key Players that have been profiled in the report are Flight Data Services Ltd., Scaled Analytics Inc., Aerobytes Ltd, Curtiss-Wright Corporation, Teledyne Controls. LLC. Developing innovative products and technology will allow customers to get the most out of new technologies.

In September 2021, FLYHT Aerospace Solutions Ltd. announced the acquisition of the Water Vapor Sensing System product line from SpectraSensors Inc. A license for SpectraSensors’ TDLAS technology, for use in the weather and aviation markets, is included in the acquisition, along with manufacturing assets, inventory, and aviation-specific intellectual property.
Acrouzet and Safran Electronics & Defense have joined forces under the European program to foster innovation in aeronautics to develop a new mini-control grip that will meet both the current and future needs of fixed-wing and rotorcraft pilots. The firm has developed a demonstrator and completed tests and delivered the prototype to Safran Electronics & Defense in November 2021. The new technology will assist pilots in knowing what to do in an emergency situation so they can take the appropriate action.

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More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global flight data monitoring and analysis market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights By Aircraft Type (Fixed Wing, Rotary Type) By End-Use Vertical (Civil, Military) By Civil (Commercial Aviation, General Aviation) & By Region (North America, Europe, Asia Pacific, Middle East, and Africa, Latin America

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Identity Verification Market is predicted to grow at a robust CAGR of 14.8%

The worldwide identity verification market is anticipated to grow at a CAGR of 14.8%. The valuation of the verification market is anticipated to increase from US$ 10 Bn in 2022 to US$ 40 Bn by 2032.

Increased digitization ambitions, a surge in fraudulent activities and identity theft over the previous decade, and rising use cases of digital identities among verticals are all driving the identity verification market.

Furthermore, initiatives by governments and businesses focusing on digitalization and the use of new technologies in identity verification systems, such as AI, machine learning, and automation, would present lucrative prospects for identity verification suppliers.

Growing digitization initiatives, identity theft, an increase in fraudulent activities over the last decade, and an increase in the adoption of digital IDs among verticals are all pushing the global identity verification industry.

Moreover, governments and businesses have taken a number of steps to focus on digitalization and the adoption of new technologies such as machine learning, artificial intelligence, and automation in identity verification solutions, which are projected to provide lucrative opportunities for identity verification vendors and lead the identity verification market adoption trends.

As per the market study by Future Market Insights, the major hurdle impeding the growth of the identity verification market are financial constraints during the deployment of identity verification systems.

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According to Jumio Corporation, the total cost of ownership for online identity verification is roughly USD 853,750 per year, based on specific estimates. Identity verification solutions are easier to obtain for large businesses. However, for SMEs, it becomes a problem owing to a lack of budgetary resources.

The high initial expenditures and ongoing upkeep of identity verification make it difficult for startups to get off the ground. SMBs usually have limited access to bank-grade technology and security solutions due to budget constraints, making them an easy target for cybercriminals and thus also hindering the growth of the global market.

Price per verification, languages, data storage, and technical support are all elements that go into determining the cost of identity verification solutions and services. The majority of organizations charge per verification, as well as per month and year, with a limited number of ID verification checks provided. In some circumstances of a yearly package, some providers additionally offer variable pricing per verification. The issue is the disparity in prices charged by ID verification suppliers.

Key Takeaways

The US identity verification market is expected to advance at a CAGR of 14.2% during the forecast period.
The market is divided into BFSI, Energy & Utilities, Healthcare, Retail & eCommerce, Government & Defense, IT & Telecommunication, and Others, based on the end user. During the forecasted period, the BFSI sector is anticipated to have the greatest identity verification market size. As it becomes technologically prepared through the early adoption of new technologies, Asia Pacific is predicted to contribute to the fastest-growing region with the greatest CAGR during the forecast period.
The China identity verification market size is projected to reach a valuation of US$ 2.9 Bn by 2032.
Due to the increasing intrinsic demand from consumers for seamless onboarding, compliance management, and fraud prevention, the biometric solutions industry is expected to expand rapidly.
The application of identity verification technologies in major organizations is likely to expand as internet penetration, and eCommerce operations grow.

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Competitive Landscape

With several competitors and competing technologies, the identity verification market is highly fragmented, resulting in fierce competition among the participants. Large firms are likely to make purchases and collaborate with startups that are focused on innovation in the future.

Acuant, Applied Recognition, Au10Tix, Authenteq, Equifax, Experian, GB Group plc (GBG), Idemia, and Idfy are some of the major players in the global identity verification market.

Recent Developments

SimpleNexus, a homeownership platform for loan officers, borrowers, real estate agents, and settlement agents, announced a partnership with Finicity’s Mortgage Verification Service on June 20, 2021. (MVS). Using a single embedded service, lenders would likely be likely to expedite the verification of applicants’ assets, income, and employment.

May 2021 – Acuant and Airside teamed up to prioritize privacy in the processing of biometrics and personal data for mobile identity verification processes, enabling the convenient and cost-effective reopening of travel and public areas.

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Identity Governance and Administration Market is projected to reach US$ 23.9 Bn by 2032

According to Future Market Insights (FMI), the  identity governance and administration market  would increase at a CAGR of 13.5% by 2022-2032. The identity Governance and Administration Market is projected to be valued at US$ 6.7 Bn in 2022 and is anticipated to reach US$ 23.9 Bn by 2032. Globalization and an increase in regulatory compliances are two major development factors for the identity governance and administration market.

The increasing attention of organizations toward meeting administrative compliances, the demand to improve the operational effectiveness of identity procedures, and the globalization and growing utilization of data are some of the factors that are likely to drive the growth of the identity governance and administration market during the forecast period.

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However, the high cost of implementing identity governance and administration solutions, as well as a lack of understanding about identity governance and administration, are the factors most likely to stymie the growth of the identity governance and administration market. The high costs and limited demand among small and medium-sized organizations (SMEs) are also projected to stymie the growth of the identity governance and administration market throughout the forecast period.

Furthermore, the rising adoption of hybrid deployment types by companies, as well as the increasing requirement to manage security risks and threats across enterprises, may provide further chances for the expansion of the identity governance and administration market in the future years. Managing identities across diverse operational settings, on the other hand, is anticipated to provide further challenges to the expansion of the identity governance and administration market shortly.

The regions covered in the identity governance and administration market report are the United States, Canada, and Mexico in North America, Brazil, Argentina, and the Rest of South America as part of South America, Germany, Italy, the United Kingdom, and the Rest of Europe in Europe, Japan, China, India, South Korea, Asia-Pacific (APAC), Sa (MEA).

North America’s market size dominates the identity governance and administration market due to the presence of a large number of significant merchants and a stringent identity management administrative environment.  Furthermore, the rapid acceptance of identity governance and administration solutions and services by organizations, in turn, drives the growth of the region’s identity governance and administration market.

Asia Pacific is expected to experience significant growth in the identity governance and administration market due to the rapidly increasing number of businesses and the increasing need for cyber security solutions. These factors are expected to drive the growth of the identity governance and administration market in the region during the forecast period.

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Key Takeaways:

The services from the identity governance and administration market are expected to grow at the fastest CAGR of 14.1% during the forecast period in the component sector.
        Cloud is expected to grow at a high rate in the deployment sector of the identity governance and administration market, with a CAGR of 13.6% during the forecast period.
        China’s identity governance and administration market is expected to be worth US$ 1.7 Billion by 2032, with a CAGR of 13.3% over the forecast period.
The market size for identity governance and administration in the United States is expected to reach US$ 8.5 billion by 2032, growing at a CAGR of 13.3% during the forecast period.
        UK is expected to reach a market size of US$ 1 Billion in the identity governance and administration market by 2032, with a CAGR of 12.6% during the forecast period.
        Japan is expected to have a market size for identity governance and administration of US$1.4 Billion by 2032, with a CAGR of 12% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 802 Million in the identity governance and administration market, with a CAGR of 11.2% during the research period.

Competitive Landscape:

The identity governance and administration market are somewhat fragmented, with multiple global and regional competitors. The market, however, is evolving toward the consolidation of numerous smaller competitors. Several industry participants are getting a competitive edge in the identity governance and administration market through innovation. The major players covered in the identity governance and administration market report are Oracle, IBM, Sailpoint, SAP, CA Technologies.

Okta, Inc. introduced New Native Identity Integration with Amazon Web Services in May 2020 to improve security, simplify the user experience, and increase automation possibilities for large, complex companies. The new capability, which is immediately available through the Okta Integration Network, allows Okta clients to furnish identities to AWS SSO for permission management, offering automated synchronization of user identities and groups to avoid significant complexity.
May 2020 – SAP SE stated that GEA had signed a strategic agreement with SAP to drive enterprise-wide digital transformation. The collaboration centres on the implementation of a worldwide ERP system based on SAP S/4HANA, with which GEA intends to realize the full potential of intelligent data utilization inside a firm.

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Key Segments

By Component:

Solution
Services
- Managed Services
- Professional Services

By Organization Size:

Large enterprises
Small and Medium-sized Enterprises (SMEs)

By Deployment Type:

On-Premises
Cloud

By Vertical:

BFSI
Government and Defense
Telecom and It
Healthcare and Life Sciences
Energy and Utilities
Retail and Consumer Goods
Manufacturing
Others (Education, Transportation and Logistics)

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Legal Transcription Market at a CAGR of 6.5% to reach a valuation of US$ 3,267.7 Mn by 2029

The increasing preference for automation in the jury process is one of the important reasons driving the demand for legal transcription services. The adoption of legal transcription solutions is expected to grow at a significant rate over the forecast period, due to the increasing preference for more secured and reliable operations.

From the past few decades, technological evolutions are increasingly contributing to different industry verticals, and law firms are one of them. With the constant increase in crime scenes, the need for more advanced, fast, and secure ways of courtroom data recording is increasing rapidly. The interest of law firms has grown regarding the conversion of traditional courtrooms into high-tech courtrooms.

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Global Legal Transcription Market: Drivers and Restraints

One of the major factors driving the market for legal transcription software as well as services is the recent boom in legal practice and different types of law firms. Rising crime scenes on a global level are making it crucial to have quick and proficient legal transcription services available on a real-time basis.

In addition to this, the availability of different options such as interrogations, on-time transcription of data, phone calls, training sessions, announcements, and others for legal transcription users is also an important factor driving the growth of the legal transcription management solutions market.

Global Legal Transcription Market: Segmentation

The global legal transcription market is segmented on the basis of end user, deployment, and region.

Segmentation Based on End User:

Legal transcription solutions are available for different types of end users. The segmentation on the basis of end users includes law agencies/firms, legal attorneys, legal prosecutors, legal court reporters, insurance investigators, and others.

Segmentation Based on Deployment:

Legal transcription solutions are available based on two types of deployment models. The segmentation is performed on the basis of deployment as on-premise and cloud-based.

Segmentation Based on Region:

On the basis of region, the global legal transcription market is segmented into North America, Latin America, Western Europe, Eastern Europe, the South East Asia and Others of Asia Pacific, Japan, China, and Middle East & Africa.

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Global Legal Transcription Market: Key Players

Examples of some of the key players in the global legal transcription market include Voxtab, Focus Forward, Indoswift, Winscribe, Flatworld Solutions, NCH Software, Tech-Synergy, Voice Products Inc., and others. Legal transcription solution vendors are continuously focusing on product innovations to sustain in the increasing global competition, and are also focusing on delivering outstanding services to the end users.

Global Legal Transcription Market: Trends

Legal transcription vendors are continually focusing on delivering customer-centric products with advanced flexibility for software users. The deployment of legal transcription over the cloud is a significant trend. Cloud deployment is expected to contribute to significant growth over the forecast period. In addition to this, the availability of mobile applications for smartphones and tablets is creating new market opportunities, as smartphones allow flexibility to track data from any remote location. These market trends are creating potential market opportunities for software vendors.

Global Legal Transcription Market: Region Wise Outlook

North America holds a significant market share regarding revenue generation from the sale of legal transcription solutions, due to the rapid adoption of legal transcription solutions in this region by private law firms. Also, to sustain in the changing global scenario in terms of maintenance of transparency in jury actions, European countries are adopting advanced solutions, such as legal transcription solutions.

The SEA and Other APAC region is expected to grow at a high CAGR over the forecast period, due to the increasing digitalization and smartphone usage in this region. MEA is expected to grow at moderate CAGR, due to the slow adoption rate of the software.

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High Performance Message Infrastructure Market surpassing a valuation of US$ 3.37 Bn by 2029.

A new research report by Future Market Insights on the high performance message infrastructure market provides significant insights, which consist of the global industry analysis 2014–2021 and forecast 2022 – 2029. According to the market research report, the overall market is projected to expand at a prolific CAGR of 14.4% between 2022 and 2029, surpassing a valuation of US$ 3.37 Bn by 2029.

Furthermore, the global high performance message infrastructure market is anticipated to experience notable growth during the forecast period, due to various driving factors, such as growth in the cloud computing industry, increasing IT infrastructure investment, and rising demand for Big Data and Software Development and Information Technology Operations (DevOps).

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Primary trends in the global high-performance message infrastructure marketplace include inclination towards interconnectivity between applications, sites, partners, providers, employees, customers, all devices.

Adoption of Integration Platform-as-a-Service (iPaaS) and event-driven architecture continues to broaden in developing and developed countries all over the world. It is expected that various opportunities will be found for key players in the high performance message infrastructure market over the forecasted period.

According to Future Market Insights’ report, the Big Data use case is anticipated to generate an incremental opportunity of ~US$ 520 Mn for the high performance message infrastructure market during the forecast period of 2019-2029.

Moreover, the event-driven architecture segment is likely to experience high growth rates during the forecast period, owing to growing demand for packaged applications and IT services.

Furthermore, the world is witnessing a significant rise in search-based analysis, predictive model markup language, and text & entity analysis, which, subsequently, is initiating potential growth opportunities for the high performance message infrastructure market.

Key Players Focus on Expanding their Business in APAC

Leading players in the high performance message infrastructure market are focusing on extending their businesses across Asian Pacific countries such as India and China. Increasing investment in digitalization infrastructure by the governments attracts various high performance message infrastructure providers to extend their business in these countries.

Moreover, the healthy economic growth of countries in the region, together with the continuous adoption of advanced technology, including the Internet of Things (IoT), Platform-as-a-Service (PaaS), are creating substantial growth opportunities for the high performance message infrastructure market.

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For instance, in August 2019, The Apache Software foundation organized Hadoop community meet up at Beijing, China, with 200 spots available for registration to attend this meet up in person. Participants introduces recent trends in the storage field, such as better scalability and moving towards cloud in the Asia Pacific region.

For instance, in June 2019, TWILIO INC. announced its expansion in the Japanese market. The company also announced new partnerships with seven regional consulting partners.

Cloud-integrated Solutions Playing an Essential Role in Market Growth

There are increasing scope of applications related to software-as-a-service (SaaS) or cloud-based data storage. Such factors have promoted the high performance message infrastructure market players to adopt expansion and product differentiation strategies to gain a distinct competitive edge as well as enhance their market presence, catering to each specific end-use industry.

For this, high performance message infrastructure providers are frequently increasing their investments on product developments and research & development activities to enhance their product offering awareness to the end-user industries.

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Legal, Risk and Compliance Solution Market is likely to secure a CAGR of 6.9% through 2032

A Future Market Insights market research study on the legal, risk, and compliance solution market offers important insights and examines the market for the projected period of 2019–2029. According to the report’s findings, the market for legal, risk, and compliance solutions is expected to produce global revenues of about US$ 8.4 billion in 2019.

The market for legal, risk, and compliance solutions is also anticipated to develop significantly in the future years. It is caused by a number of variables, including the mandatory use of GRC solutions in businesses and the growing use of big data and IoT in legal, risk, and compliance solutions.

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Adoption of legal, risk and compliance solution in the industrial sector helps in dealing with the top labor and employment issues, thereby enhancing various operational processes. Introduction of new technologies and driverless cars along with rapid digitization and automation is further likely to augment the growth of the legal, risk and compliance solution market.

On the basis of FMI report, the component of legal, risk and compliance solution is projected to generate an incremental opportunity of ~US$ 8.2 Bn during the forecast period of 2019 to 2029. As compared to services, the legal, risk and compliance solution software is anticipated to witness prominent growth rate during the forecast period, owing to the increasing demand for policy management and enterprise risk management.

Furthermore, the software supports an organization risk management processes, which include internal audit, internal control, business continuity, vendor/3^rd party management, information security, enterprise and operational risk management, which in turn, is accelerating the legal, risk and compliance solution market growth.

Increased Number of Risk Factors and Business Complexities

The legal, risk and compliance solution effectively manages, monitors, and defines the external and internal business environments. Increasing business complexities and changing regulatory requirements in recent years, are expected to drive the legal, risk and compliance solution market growth.

The solutions are also used to provide higher quality information to management, process optimization, better capital allocation, improved effectiveness, protected reputation, and reduced costs for all industry verticals. Furthermore, the rising number of risk factors against business data is generating potential growth opportunities for the legal, risk and compliance solution providers.

Managing Policies and Regulations in the Government Sector

Implementing a transparent and uniform process in government organization is expected to bolster the demand for legal, risk and compliance solutions. These solutions help in managing environmental, health & safety (EH&S), liquidity and credit risks along with managing quality and stakeholder expectation and controlling high cost for aging infrastructure. Further, the need for managing policies, regulation, and business performance effectively in the government sector due to increased regulatory pressures is likely to accelerate the market growth.

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Demand for Legal Document Management Solutions to Reduce Paper Work

Importance of maintaining historical company records coupled with rising adoption of paperless solutions are significant factors that are driving the growth of the legal, risk and compliance solution market. Multiple organizations are going paperless to pursue new ways of making business and new opportunities to reach across various channels and bring new customers, partners, and revenue. Cloud-based computing solutions have been developed as the key enablers of the document management system (DMS).

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Electric Bike Market 2022 | Latest Trends, Demand, Growth, Opportunities & Outlook Till 2032

FMI delivers key insights on the global electric bike market in its latest report: During the forecast period, electric bike sales are anticipated to grow at a CAGR of 10%. The market for electric bikes is expected to grow from US$ 52.05 billion in 2022 to US$ 122.1 billion in 2032.

The long-term outlook on the global electric bike market remains positive with the market value expected to increase at a CAGR of 3.1% during the forecast period. Among the battery types, the lead-based battery segment in the electric bike market is expected to expand at a CAGR of more than 3% in terms of value over the forecast period.

The global market for battery electric bike is estimated to represent a total increment opportunity of 6.1 Bn from 2017 to 2027. Asia Pacific excluding Japan (APEJ) is estimated to account for a value share of 81% in the global electric bike market by the end of 2017, and is also expected to dominate the market during the forecast period. In this report, FMI throws light on the drivers and restraints likely to impact the electric bike market during this period.

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Adoption of Clean Technology Expected to Boost the Electric Bike Market

Government agencies are focusing on electro-mobility and reducing pollution, hence, zero emission vehicles are being increasingly promoted through attractive incentives and schemes. This has led to an enhanced focus on electric bikes and thus, a significant increase in the sales of electric bikes is expected over the forecast period. Apart from curbing air pollution, electric bikes also help reduce the level of noise pollution.

Growth in the transportation sector has severely depleted non-renewable petroleum reserves, and this has increased the prices of fuel. Fuel prices are expected to increase exponentially in the coming years as crude oil reserves will be reduced, which will pave the way for the growth of vehicles running on alternate sources of energy. Moreover, the prices and consumption of petroleum products as fuel in the automotive sector is growing day by day, and to reduce the global consumption of the same, manufacturers and governments are promoting the usage of electric bikes as they are far more fuel-efficient compared to conventional automobiles. These factors are estimated to enhance the electric bike market.

Segmentation Analysis of the Electric Bike Market

The electric bike market is segmented on the basis of product type, battery type and technology.

Pedelecs is expected to be the most prominent segment in terms of volume and value over the forecast period. The pedelecs sub-segment of the electric bike market is estimated to grow at a CAGR of 3.2% in terms of value over the forecast period. Pedelecs are expected to represent a total incremental opportunity of US$ 3.9 Bn between 2017 and 2027 in the electric bike market. The electric scooter and motorcycle sub-segments are projected to grow at a relatively low CAGR as compared to pedelecs over the forecast period
The most prominent battery type in the electric bike market is estimated to be the lead-based battery. The lead based battery segment is estimated to grow at a steady CAGR over the forecast period in the electric bike market
The battery electric scooter segment is the most prominent technology segment in the electric bike market. It is estimated to account for more than 80% of the electric bike market throughout the forecast period.

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Regional Market Projections of the Electric Bike Market

The electric bike market in APEJ is expected to represent a significantly high incremental opportunity between 2017 and 2027. The electric bike market in APEJ is expected to represent a total incremental opportunity of US$ 6.1 Bn between 2017 and 2027.

Electric Bike Market Participants

This report highlights some of the top companies operating in the electric bike market, which include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co. Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

Key Segments Covered in the Electric Bike Market Report

On the basis of product type, the electric bike market can be segmented into:

Electric Scooter
Electric Motorcycles
Pedelec

On the basis of battery type, the electric bike market can be segmented into:

Li-Ion
NiMH
Lead-based

On the basis of technology, the electric bike market can be segmented into:

Plug-In
Battery

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On the basis of region, the electric bike market can be segmented into:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

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Paint Cans Market Important Changes in Industry Dynamics during 2021-2031

The global paint cans market was valued at 4.7 Bn by 2021, and is projected to register modest growth during the next ten years. As indicated by a new report presented by Future Market Insights (FMI), sustained demand for paint cans within construction and wall décor segments will continue to push paint can sales at a steady pace over the years to come.

High Recyclability Quotient Sustains Metal Paint Can Sales

Paint cans are widely used to store paint. In fact, they are the most dominant form of packaging solution used for paint. Metal paint cans are generally preferred due to their high recyclability. However, there are certain factors associated with convenience, which could hamper the growth in the adoption of metal paint cans. These include problems such as rusting of paint cans, which can damage the paint inside.

Moreover, most metal paint cans are tightly sealed, and spill paint when opened with force. The paint spilling out of paint cans can stick to the surface. On the other hand, plastic paint cans can be easily decorated and have better compatibility with printing, which is taken advantage of, by paint can manufacturers.

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Paint Cans Continue to Witness Steady Traction, Construction & Wall Décor Key Revenue Generation Areas

Since a significant chunk of the demand for paint cans is generated by the construction sector, there is a demand for packaging solutions with high capacity. This is fulfilled by plastic containers and pails which have a capacity of well over 5000 ml. Several 5 gal containers of latex-paint sold in the market come in plastic containers. Plastic pails and bulk containers lead to reduced weight of the packaging, ensuring user convenience. The high demand for rigid plastic pails in the construction sector could, to some extent, hamper the growth of the global paint cans market.

The building and construction sector is expected to witness solid growth in the coming years, especially in high growth countries such as Brazil, India, and China. Also, the increasing number of new construction projects, as well as a number of households, is expected to boost the growth of the wall paint market, which, in turn, is anticipated to represent lucrative opportunities for the global paint cans market during the forecast period.

Paint Consumption Sees an Upsurge in Developing Asian Economies, Pushing Sales of Paint Cans

The South & East Asia paint cans market is expected to represent significant revenue growth opportunity during the forecast period. The high rate of urbanization, rise in the number of single person households, and robust growth of the building & construction industry is expected to generate significant demand for paint cans during the forecast period. Therefore, the manufacturers of paint cans are eyeing the South & East Asia region to pursue rightsizing of their supply chains to accommodate high growth countries in the region.

China is expected to generate the maximum incremental $ opportunity for the paint cans market by the end of the forecast period. Strong economic growth of India is the key driver for the local paint industry. India’s paint consumption has been registering double-digit figures for the past few years, making it highly attractive in terms of growth rate of the paint cans market.

The continuous expansion of the building & construction industry in countries such as Indonesia, Thailand, South Korea, and Japan, is likely to represent an enormous growth opportunity for the paint cans market during the forecast period. Overall, South & East Asia regions are projected to witness a notable growth rate of the paint cans market throughout the forecast period.

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Competition Landscape: Global Paint Cans Market

The FMI report includes a detailed competition landscape, which includes profiles and assessment of paint can manufacturers operating in the global paint cans market. Key manufacturers of paint cans profiled include – Ardagh Group, S.A., Ball Corporation, RPC Group Plc., Silgan Containers LLC, Kian Joo Can Factory Berhad, Colep Portugal, S.A., BWAY Corporation (MAUSER Packaging Solutions), National Can Industries Pty. Ltd., Allied Cans Limited, Aaron Packaging, Inc., Allstate Can Corporation, Lancaster Containers, Inc., Baltic Packaging A/S, Envases Universales Group, P. Wilkinson Containers Ltd., Sarten Ambalaj Sanayi Ve Ticaret A.S., and KW Plastic Inc.

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Wooden Cutlery Market – Future Scenario, Key Insights, Top Companies 2029

The wooden cutlery market is estimated to value at US$ 184.4 million in 2022 and is projected to reach US$ 245 million by 2028, at a CAGR of 4.8% during the forecast period.In the report, FMI suggests that the wooden cutlery are the better alternative to plastic and steel cutlery, owing to its eco-friendly and biodegradable properties. The global market for wooden cutlery has been segmented on the basis of product, end use, sales channel, and regions such as North America, Latin America, Europe, South Asia, East Asia, MEA, and Oceania.

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As the global sustainability drive continues to reach new heights, a number of end users, especially foodservice industry, are leaning towards green solutions and biodegradable products, resulting in surge in the demand of wooden cutlery. Tapping into opportunities in new sectors and regions where restrictions have imposed on the use of single-use plastics will remain key to gaining competitive advantage for the market players, according to the FMI’s analysis.

North America Remains at the Forefront

FMI’s study analyses that North America is expected to remain at the forefront of the global wooden cutlery market throughout the forecast period. In North America, the wooden cutlery market is expected to be driven by increase in number of single-person households along with increase in living standards and changing lifestyles. Rapid adoption of online food services in the region has further escalated the demand for wooden cutlery. Simultaneously, increase in demand for biodegradable cutlery and growing awareness towards the ill effects of plastic will continue to contribute to the growth of the wooden cutlery market.

Opportunities Abound in East Asia & South Asia

East Asia holds significant share in the global wooden cutlery market, and is expected to attain notable CAGR during the forecast period. In East Asia, China is foreseen to remain prominent market, accounting for half of the revenue share during the forecast period. China, with low labour cost and highly efficient workers, produces large volume of wooden cutlery. Wooden cutlery made in China are available at comparatively low price, and are exported in large volume to other regions.

In South Asia, India is expected to remain prominent market for wooden cutlery. Online food delivery system is growing at tremendous pace in the region, with evolving organized foodservice retail chains. Escalating demand for convenience among consumers has resulted in increased delivery of food and cutlery consumption. The trend of using biodegradable and eco-friendly cutlery is increasing in the region, due to awareness program carried out by wooden cutlery market players such as Pappco Greenware against the effects of single-use plastic cutlery. Such trends are thus expected to fuel the growth of the wooden cutlery market in South Asia.

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Wooden Cutlery Market: Vendor Insights

In this report, Future Market Insights has presented several strategies adopted by the key players in the wooden cutlery market, tracked by an analysis of the current developments. The key players, which have been profiled in the report on the wooden cutlery market includes Huhtamaki Group Oyj, Chefast kitchen accessories, Mede Cutlery Company, Eco-gecko Products Inc., Caoxian Luyi Wooden Product Co., Ltd., Bambu LLC, VerTerra Dinnerware, Leafware LLC, Biopac UK Ltd., Vegware Ltd., Bio Futura B.V., Ecoware Biodegradables Inc., Ecoriti, Vrag Fils Airlaid Pvt. Ltd, Natural Tableware, Packnwood (First Pack), Biotrem, Pavrex Wooden Products, Greenwood (Dalian) Industrial Co., Ltd., and Pappco Greenware, among others.

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T: +1-845-579-5705

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