Who Are The Key Players In The Smart Agriculture Market?

Smart Agriculture Industry Overview

The global smart agriculture market size was valued at USD 14.44 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2022 to 2030.

Increasing automation of commercial greenhouses and growing implementation of the controlled environment agriculture (CEA) concept in greenhouses, in a bid to obtain a higher yield and maintain optimum growing conditions, are the key factors driving demand during the forecast period. Cultivators realize the potential benefits of growing plants inside a greenhouse, which has led to the development of commercial greenhouses. Cultivators have shifted from the conventional lighting systems to LED grow lights as the latter can easily be integrated into a CEA setup. Although LED grows lights are high in cost, they are an ideal option for indoor farming, owing to their long-term benefits in terms of energy efficiency.

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Key technologies driving the market demand include livestock biometrics, such as RFID, biometrics, and GPS to help cultivators automatically obtain information regarding livestock in real-time. Furthermore, infrastructural health sensors are used for monitoring material conditions and vibrations in buildings, factories, bridges, farms, and other infrastructure. Coupled with an intelligent network, infrastructural health sensors help provide information to the maintenance team in real-time. In addition, agricultural robots are being used to automate farming processes, such as soil maintenance, weeding, fruit picking, harvesting, planting, plowing, and irrigation, among others.

To sustain profits, farmers are increasingly adopting smarter and more efficient agriculture technologies to deliver high-quality products to the smart agriculture market in sufficient quantities. Mobile technology aids in offering innovative services and applications that are used across the agricultural value chain.

Machine-to-Machine (M2M) applications are particularly suited for the agricultural sector, enabling farmers to monitor equipment, assess the environmental impact on production, precisely manage livestock and crops, and keep track of tractors and other agricultural equipment. M2M is an integral part of IoT, which describes the coordination of multiple devices, appliances, and machines connected to the internet through multiple networks.

The COVID-19 pandemic has brought widespread disruption to the global supply chain, resulting in food shortages and inflation. Necessary measures are required to strengthen the food supply chain and prepare for any future crisis. The ongoing pandemic has highlighted the significance of being able to carry out agricultural operations remotely. The ability of smart agricultural practices to help farmers recoup losses in a relatively shorter lead time is expected to drive future market growth.

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Vertical Farming Market - The global vertical farming market size was valued at USD 4.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. The market growth is attributed to the growing adoption of environment-friendly production of fruits and vegetables.

Livestock Monitoring Market - The global livestock monitoring market size was valued at USD 4.62 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.63% from 2022 to 2030. The growth of the market can be attributed to the upsurge in cattle population, coupled with the growing adoption of livestock monitoring technology.

Market Share Insights

April 2021 -  AGCO Corporation, in a strategic partnership with EZ-Drops, an innovative agricultural equipment manufacturer, to provide AGCO’s dealers in North America with access to a new nutrient supply system. The nutrient application system is available at AGCO’s RoGator dealers with customized configurations. This system will help farmers to reduce excess spraying of nitrogen, resulting in decreased farm profitability.

November 2020 - Ag Leader Technology upgraded its InCommand displays and added built-in-house SteerCommand Z2 and SteadySteer to its SteerCommand product portfolio. These products provide end-users with a single user interface that steers and controls all farming equipment.

Key Companies profiled:

Some prominent players in the Smart Agriculture market include

• Ag Leader Technology
• AGCO Corporation
• AgJunction, Inc.
• AgEagle Aerial Systems Inc.
• Autonomous Solutions, Inc.
• Argus Control Systems Ltd
• BouMatic Robotic B.V.
• CropMetrics
• CLAAS KGaA mbH
• CropZilla
• Deere & Company
• DICKEY-john
• DroneDeploy
• DeLaval Inc
• Farmers Edge Inc
• Grownetics, Inc.
• Granular, Inc.
• Gamaya
• GEA Group Aktiengesellschaft
• Raven Industries
• SST Development Group, Inc
• Trimble Inc.
• The Climate Corporation
• Topcon

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How Big Is The Dark Fiber Network Industry?

Dark Fiber Network Industry Overview

The global dark fiber network market size accounted for USD 5,288.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030.

The technology has emerged as a sustainable solution for various organizations that are focusing on enhanced communication and network management. Continuously increasing penetration of internet services, over the period, has paved the way for the high demand for internet bandwidth. This demand is expected to remain rampant over the forecast period. This is the most significant factor responsible for market growth across the globe. The market is strongly supported by companies with a high reliance on internet connectivity. These networks are highly beneficial for organizations with a high volume of data flow in their operation. These benefits include reduced network latency, scalability, reliability, and enhanced security. In fiber optic communications, fiber optic cables that are not yet put in service by a provider or carrier, are termed as dark fiber or unlit fiber (sometimes known as fiber).

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These cables are not connected to any optical device and are installed to be used at some point in the future. It is also called a new fiber construction project to be owned by a customer or service provider. In the current market scenario, network service providers are leasing these unused fiber optic cables. During the late 90s, the telecommunication industry was booming, and huge capital was poured into building these fiber-optic networks. That period saw the aggressive laying down of fiber networks along with highways and rail line (i.e., long-haul network type). Similarly, a thousand miles of local or regional network (i.e., metro network type) were laid across large cities and population centers. At the turn of the century, the telecom sector witnessed a meltdown, and these billion-dollar unused fiber network (dark fiber) infrastructures were sold at a meager price by telecom providers to avoid bankruptcy.

Due to the increasing demand for mobile data and the launch of 5G services, telecom service providers are now buying up the available dark fiber and also focusing on building their own. Other factors such as the ever-increasing bandwidth demand of handheld device user audience and mandatory conversion to HD video quality for cable operators are expected to fuel dark fiber network market growth over the forecast period.

The pricing for dark fiber in the U.S. is based on the routes, and locations, and is sometimes plainly arbitrary. Also, it relies on several other parameters such as market competition, market demand, and construction costs in a particular location. Generally, the U.S. dark fiber network pricing has been bifurcated into two major parts, including metro-area and long-haul area fiber.

The dark fiber prices in the metro area are considerably higher than in the long-haul area on a per mile basis. More urban areas’ routes have considerably higher pricing in the metro area than the suburban and exurban areas’ routes. This is due to the rising demand for a fiber network in urban areas. Occasionally, owing to the glut of fiber, the prices of dark fiber networks push down in the urban areas. Moreover, it has been observed that the dark fiber prices in the long-haul areas are more consistent than the metro-area routes.

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U.S. Dark Fiber Network Market - The U.S. dark fiber network market size accounted for USD 914.1 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030. The technology has emerged as a sustainable solution for various organizations that are focusing on enhanced communication and network management.

5G Services Market - The global 5G services market size was valued at USD 47.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 52.0% from 2022 to 2030. 5G wireless mobile services enable a fully mobile and connected environment by delivering a wide range of use cases and business models to consumers.

Market Share Insights

September 2021 - Colt Technology Services announced a contract of 25-years with the Getlink, to install Colt IQ Network through the Getlink’s Channel Tunnel that will allow the transfer of data in Tbps per fiber.

Key Companies profiled:

Some prominent players in the global Dark Fiber Network market include

• AT&T Intellectual Property
• Colt Technology Services Group Limited
• Comcast, Consolidated Communications
• GTT Communications, Inc.
• Level 3 Communications, Inc. (CenturyLink, Inc.)
• NTT Communications Corporation
• Verizon Communications, Inc.
• Windstream Communications
• Zayo Group, LLC.

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Which segment accounted for the largest market share of U.S. digital signage?

U.S. Digital Signage Industry Overview

The U.S. digital signage market size was valued at USD 5.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030.

Digital signage is used for displaying promotional and informative content in the form of images, graphics, design collaterals, videos, and creative advertising on digitized displays. Creative advertising content can attract customers and viewers, engage viewers through impactful content management, and influence consumers’ purchasing decisions. This is leading to increased adoption of digitized displaying technologies in various end-user verticals. Major end-user sectors include retail, hospitality, healthcare, education, transportation, corporate, and banking.

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In addition, surging demand for providing concise and comprehensive information about products to consumers is boosting the implementation of digitized signs. Moreover, increasing adoption of advanced technologies such as single or multi-touch display technologies and gesture-based displays is likely to drive the market. These devices require guidance and digitized information management, which can be accessed from a remote location with signage. This is one of the significant drivers which is projected to boost the market over the coming seven years.

The advent of innovative displays, such as liquid crystal display (LCD), LED, OLED, and Super AMOLED display, is allowing advertisers to improve the clarity and quality of the content being presented. This is prompting digitized poster providers to provide content that is compatible with all types of displays. Besides, information is provided with the help of digitized display technologies, which include pictures and motion in a digitized format to gain the attention of customers. High investments are being made by marketers for the creation of new content to attract customers.

The U.S. is a prominent destination for market players as marketing and promotional techniques continue to evolve and advertisers prefer digitized promotion over conventional marketing. Other benefits associated with digitized signs, such as better audience engagement, reduced paper consumption, increased sales owing to improved influence on customers, and cost-effective advertising, are encouraging their adoption in the country. The increasing use of 3D digital signage for effective branding and promotion of the product is anticipated to provide a lucrative platform for market growth over the forecast period. In the U.S., the West American region held the largest share in 2021 owing to the presence of a well-developed and highly penetrated advertising segment that uses innovative digitized signs to attract an audience.

However, high initial investments associated with digitized signs have been poised for the adoption of digital signage. Adoption of digitized signs by small- and mid-sized enterprises is particularly limited owing to the initial investment involved in obtaining supportive software, hardware, and technology. In addition, the lack of research and awareness about the benefits of digitized signs is also another factor that is restraining the smooth growth of the market.

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Digital Signage Market - The global digital signage market size was estimated at USD 23.12 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2030.

Computer Aided Engineering Market - The global computer aided engineering market size was valued at USD 8,904.2 million in 2021 and is expected to expand at a CAGR of 8.8% from 2022 to 2030, owing to the increased outsourcing of manufacturing processes to emerging economies such as China, India, and Russia, among others.

Market Share Insights

May 2022 - NEC Display Solutions of America announced the availability of the next generation of its PE Series entry-installation laser projectors, the PE506UL and PE506WL. The ideal projection solution for K-12, higher education and corporate applications, the upgraded PE Series projectors deliver powerful brightness with 5,200 lumens, accommodating larger screens and delivering more value to customers needing dynamic, high-resolution imaging at an affordable price.

Key Companies profiled:

Some prominent players in the U.S. Digital Signage market include

• NEC Display Solutions of America, Inc.
• BrightSign LLC
• Planar System Inc.
• Cisco Systems, Inc.
• Intel Corporation
• Microsoft Corporation
• Keywest Technology, Inc.
• Scala, Inc.
• Visix, Inc.
• Panasonic Corporation of North America
• Hughes Network Systems LLC

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Global Structured Cabling Market Size Is Expected To Reach USD 23.2 Billion By 2030

Structured Cabling Industry Overview

The global structured cabling market size was valued at USD 9.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030.

Structured cabling systems comprise a set of cables and hardware that make up the telecommunication infrastructure of management systems in enterprises. Telecommunication infrastructure helps transfer voice, video, and data signals from one point to another through a communication network. Different types of connecting devices and cables are required for a smooth network connection.

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The rise in the number of internet users and rapid adoption of digital services has led to an exponential increase in the volume of sensitive data collected by organizations. A structured cabling system facilitates data transfer at a faster speed, which has triggered market growth. Increased emphasis on cost and time management, growing IoT data, the need for automation of businesses, and increasing competition have significantly boosted demand for structured cabling systems.

Furthermore, these systems aid in faster data transmission, which facilitates enterprises in improving the effectiveness of their decision-making process and maximizing profits. However, the high cost of fiber optic cables, low compatibility with old communication infrastructure, and fluctuating copper prices threaten to restrain the market growth.

The North American market for structured cabling has seen greater adoption of structured cabling systems across all verticals. The region has been an early adopter of new innovative technologies owing to the presence of large technology players. Moreover, the availability of better technology infrastructure and reliable network connectivity across the region has encouraged the growth of the market.

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Voice And Speech Recognition Market - The global voice and speech recognition market size was valued at USD 14.42 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 15.3% from 2022 to 2030. The integration of voice-enabled in-car infotainment systems is gaining popularity across the globe as several countries initiate “hands-free” regulations that govern the use of mobile phones while driving.

Cloud Computing Market - The global cloud computing market size was valued at USD 368.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.7% from 2022 to 2030. The introduction of emerging technologies such as Artificial Intelligence (AI) and machine learning enables cloud growth by empowering companies to tap into AI capabilities.

Market Share Insights

September 2021 - Nexans SA announced that it has entered into an agreement for the acquisition of Centelsa, a premium cable maker in Latin America active in the production of cables for building and utility applications. Companies have also obtained approvals from different governments for the launch of products that can provide high speed and security. 

February 2021 - Legrand announced the acquisition of the Champion ONE (C1) family of brands, a leading provider of optical networking components and solutions for the data center, enterprise, and telecommunication markets.

Key Companies profiled:

Some prominent players in the global structured cabling market include

• ABB Ltd.
• Belden Inc.
• CommScope Holding Company, Inc.
• Corning Incorporated
• Furukawa Electric Co., Ltd.
• Legrand SA
• Nexans
• Schneider Electric
• Siemens AG

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Global Chemical Distribution Market To Scale New Heights With CAGR of 5.4% from 2020 to 2028

Chemical Distribution Industry Overview

The global chemical distribution market size was valued at USD 247.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2020 to 2028.

Increasing consumption of chemicals across end-use industries such as construction, pharmaceutical, polymers, and resins coupled with high complexity in reaching the customers is likely to drive the opportunities for chemical distributors over the coming years.

Demand for specialty construction chemicals in the U.S. is driven by the rising trend of sustainable and green infrastructure. Specialty product distributors are thus benefiting from the demand for such chemicals even from developed economies such as U.S., Germany, and U.K.

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The chemical industry produces and supplies essential raw materials for companies in the industrial and manufacturing sectors. These feedstock’s are distributed to the end-users by third-party distributors or sold directly by manufacturers. Distribution of commodity and specialty chemicals by third parties is anticipated to witness significant growth than the sale of products directly to end-users owing to the outsourcing of value-added services, such as logistics, packaging, blending, waste removal, inventory management, and imparting technical training.

The U.S. market for chemical distribution is driven by sustained construction activities and strong consumer purchasing power. Business investments in the housing market are regaining traction and contributing to building momentum for the chemical industry. Furthermore, according to a report published by American Chemistry Council, Inc. in June 2019, 334 new production projects, valued at over USD 204 billion were announced, which demonstrates a constant rise in investments in the U.S. economy. This trend is anticipated to result in a significant expansion of the manufacturing sector, thus generating a positive impact on the overall market.

The growth in other end-use industries, such as automotive, pharmaceutical, and electronics coupled with strong growth in the industrial manufacturing sector is anticipated to drive the global demand for chemicals. This factor is further expected to benefit the third party distribution channel. Global distributors are adopting differentiated channel strategies such as product knowledge, local expertise and a strong logistics network to gain a competitive advantage in a highly fragmented market.

Along with a high industry rivalry, third-party distributors are also anticipated to face strong competition from direct suppliers. Some of these are multinational companies, such as BASF SE, Arkema, Honeywell International, and Lanxess AG. These companies possess high investment capacities as well as a strong network with end-users and a wide geographical presence. Direct distribution channels offer bulk discounts and reduce third-party profit margins.

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Noble Gas Market - The global noble gas market size was valued at USD 2.47 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. Increasing application areas for noble gases in the healthcare and industrial sectors and supportive government policies are expected to boost the market growth.

Specialty Chemicals Market - The global specialty chemicals market size was valued at USD 586.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2028. Growing demand for high-performance and function-specific chemicals across the end-use industries such as oil and gas, pulp and paper, and personal care and cosmetics is expected to be one of the prime market growth factors.

Market Share Insights

April 2022 - Univar Solutions Inc a global chemical and ingredient distributor and provider of value-added services, In April month expanded its specialty ingredient portfolio in Mexico and Brazil through a new distribution agreement with Ashland, a focused additives and specialty ingredients company.

March 2019 - Univar Inc. announced that it has completed the acquisition of Nexeo Solutions creating a leading global chemical and ingredients solutions provider. The combined company will conduct business as Univar Solutions, reflecting a commitment to combining the ‘best of the best’ from each legacy organization.

Key Companies profiled:

Some prominent players in the global Chemical Distribution market include

• Univar AG
• Helm AG
• Brenntag AG
• Azelis Holdings SA
• IMCD Group
• BASF SE
• Biesterfeld AG

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Pet Food Ingredients Market Ingredients Estimates, Revenue Drivers and Restraint Analysis

Pet Food Ingredients Industry Overview

The global pet food ingredients market size was valued at USD 39.94 billion in 2018 and is likely to expand at a CAGR of 5.9% during the forecast period.

The emerging awareness about the nutritional benefits of minerals, dietary fiber, carotenoids, and omega-3 fatty acids in pet nutrition emerged as the primary factors towards the development of the pet food ingredients market.

Today many of the pet food manufacturers offer wide-ranging products with multiple options that serve various purposes. Customers can choose products depending on various factors such as breeds, life stages, price points, ingredient preferences, disease conditions, etc. Thus, this kind of changing dynamics is likely to boost the pet food ingredients market.

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Further, it is estimated that the number of households with companion animals between 2006 and 2016 grew significantly across the globe. Especially in the United States, the growth in the total number of households in the past ten years has been observed to be less than the growth in the total number of households with companion animals.

Also, increasing dog and cat adoption along with the rising focus on improving productivity and health are some of the major driving factors for the market. At present, the majority of ingredients used in the preparation of companion animal’s food is synthetic owing to the low cost and ease of availability.

According to the Pet Food Industry, nearly 95% of pet owners assume their companion animals as a part of their family and thus give importance to the quality of ingredients in the food that is served to them. Consumer’s preference for high-quality ingredients is a major driving factor for premium and super premium products in this market.

However, rising concern regarding the harmful effect of certain synthetic ingredients, a consistent decrease in the use of antibiotics such as ethoxyquin and policymakers focus on increasing the use of organic and natural products are projected to develop the natural products at the fastest growth rate over the coming years.

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Global Pet Food Market - The global pet food market size was valued at USD 94.76 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030. Increasing consumer awareness regarding natural and organic pet food products has forced the manufacturers to shift their focus from synthetic to natural products which has acted as one of the major forces impacting the global market.

Yeast Extracts For Animal Feed Market - The global yeast extracts for animal feed market size was valued at USD 298.3 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030. These players have the advantage of acquiring raw materials necessary for manufacturing the final product from a single source, thus sustaining the economies of scale to the finest level.

Market Share Insights

April 2017 - Diana Pet Food announces a strategic partnership with Dilumix, a important producer in the pet food ingredients business, located in Leme - Brazil. Aligned with Diana Pet Food’s strategy of developing innovative solutions to improve cats and dogs wellbeing, this Alliance will leverage complementary resources and expertise to jointly manufacture and market natural sugarcane fibers.

Key Companies profiled:

Some prominent players in the global Pet Food Ingredients market include

• DuPont Nutrition & Health
• FoodSafe Technologies
• Diana Pet Food
• AFB International
• Lallemand, Inc.
• American Dehydrated Foods, Inc.
• Kemin Industries

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Metalworking Fluids Market PESTEL Analysis and Key Growth Opportunities

Metalworking Fluids Industry Overview

The global metalworking fluids market size was estimated at USD 11.23 billion in 2019 and is anticipated to witness a revenue-based CAGR of 4.4% over the forecast period.

Growing exploration and production activities of oil and gas, especially in the Asia Pacific, followed by North America are anticipated to drive the demand. Metalworking Fluids (MWF) are a range of oils and lubricants used for the smooth functioning of metal pieces in machinery during various industrial operations. These fluids also help extend tool life and improving its performance. Crude oil and base oil are the primary raw materials for the production of MWFs. The raw materials are heated, extracted, and refined for producing different fluids such as motor oils, lubricants, and petrol.

The U.S. metalworking fluids demand witnessed severe fluctuations, until 2014, owing to the economic downturn of 2008 and subsequent recovery. The market is expected to witness moderate growth over the forecast period on account of consolidation in the metal fabrication industry coupled with competition from international markets. Modest growth in the construction and automotive sectors is expected to hamper the MWF industry over the forecast period.

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The demand from the U.S. is projected to be driven by the rising consumption of neat cutting oil, which is majorly used for aluminum products. The manufacturing sector in the U.S. is witnessing a shift from steel machinery to aluminum products, due to its easy molding and lightweight properties. The rising usage of aluminum is thus anticipated to generate lucrative opportunities for the consumption of neat cutting oil. This segment is expected to witness a CAGR of 2.7% from 2020 to 2027.

The growth of the heavy machinery industry in the developing economies of Asia Pacific and Central and South America is anticipated to drive the market for metalworking fluids. This industry includes construction equipment, cement, textile, metallurgical and mining machinery, oil field equipment, and material handling equipment. These machines have a high demand for synthetic and semi-synthetic-based fluids which offer better machining performance, corrosion resistance, and increased tool life. The growth in the heavy machinery industry is thus predicted to increase the penetration of semi-synthetic- and synthetic-based MWF over the forecast period.

Emerging markets of China, India, and Brazil are projected to witness huge investments in different sectors such as transportation, infrastructure, and power. These sectors, in turn, result in the demand for devices such as construction equipment parts, compressors, engines, and generators, further propelling the need for lubricants that enhance operational efficiency. The increasing competition among manufacturers also drives the demand for metalworking fluids as they offer efficiency.

However, the penetration of plastic components in the automobile industry has increased considerably over the past few years owing to their lightweight, robust performance, high resistance to corrosion, and durability and efficiency. Plastic components have largely replaced metal parts in various sectors, hindering the market growth. Also, plastics offer durability, improve navigation ability, improve fuel economy, and help in extending the flight range. This has driven plastic use in military and defense aircraft and carriers, which is expected to have a negative impact on the global demand for MWF.

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Lubricants Market - The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028. The industry dynamics are changing, in terms of raw material, owing to the rising demand for bio-based lubricants.

Noble Gas Market - The global noble gas market size was valued at USD 2.47 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. Increasing application areas for noble gases in the healthcare and industrial sectors and supportive government policies are expected to boost the market growth.

Market Share Insights

June 2017 - ExxonMobil said it is transforming its business structure to be organised along three lines effective April 1 - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon solutions. ExxonMobil said it is on track to save more than USD 6 billion in structural costs by 2023 by combining chemical and downstream business and centralising technology and engineering services.

Feb 2022 - Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Bunge North America, Inc., a subsidiary of Bunge Limited (NYSE: BG), today announced the signing of definitive transaction agreements to create their previously announced joint venture. The new venture will create renewable feedstocks leveraging Bunge’s expertise in oilseed processing and farmer relationships and Chevron’s expertise in fuels manufacturing and marketing.

Key Companies profiled:

Some prominent players in the global Metalworking Fluids market include

• British Petroleum plc
• Exxon Mobil Corporation
• Chevron Corporation
• Total SA
• PratapTex-Chem Pvt. Ltd.
• Texxol Global
• Swisslube AG

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Stretch And Shrink Film Market Revenue Opportunities and Raw Material Outlook

Stretch and Shrink Film Industry Overview

The global stretch and shrink film market size was estimated at USD 14.27 billion in 2019 and is projected to register a 5.5% CAGR during the forecast period.

Burgeoning food processing industry is expected to drive the market growth. In addition, high demand for fruits, vegetables, and other food products is expected to further drive the product demand. Raw material manufacturers such as BASF SE and Arkema S.A. manufacture materials such as polyethylene and polyvinyl chloride that are produced from chemicals such as ethylene and vinyl chloride. The companies are mostly backward integrated i.e. they are involved in the production of ethylene and vinyl chloride for product manufacturing.

Gather more insights about the market drivers, restraints, and growth of the Global Stretch and Shrink Film market

Rising replacement of conventional packaging materials with stretch and shrink films can be attributed to the growth of the market in the U.S. The presence of a number of international and local manufacturers in the economy coupled with growing penetration of the products based secondary packaging is expected to benefit the growth. The country is one of the largest manufacturers of processed food which is a major application area for stretch films in both primary and secondary packaging. The demand for LLDPE based films in food processing industry is expected to witness growth on account of high transparency coupled with superior performance as a food contact material.

The manufactured products are primarily distributed through a distribution channel setup by manufacturers or through a third-party distribution channel. Companies such as Allied Plastics, Genuine Package Venture, and AmTopp distribute products through well-established distribution channels. The raw material prices exhibit a high degree of volatility owing to fluctuating crude oil prices which further imparts a degree of uncertainty in the price of shrink films.

Decreasing preference for polyvinyl chloride films is anticipated to fuel the demand for polyethylene-based plastic films in near future. The stretch and shrink film market is expected to witness significant growth owing to growing technological innovations with respect to stretch films. For instance, introduction of highly advanced packaging film by SABIC manufactured through a multilayer and polymer blend technology that offers increase load stability for food product packaging.

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Pigment Dispersion Market - The global pigment dispersion market size was valued at USD 23.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. Currently, titanium dioxide, iron oxide, and zinc oxide account for the maximum share of the global pigment demand for plastic and paper & paperboard.

3D Printing Plastics Market - The global 3D printing plastics market size was valued at USD 786.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.9% from 2022 to 2030. Photopolymers are widely used in the 3D printing industry as they aid in easier customization and in producing products that are high in resolution.

Market Share Insights

June 2016 - Introduction of highly advanced packaging film by SABIC manufactured through a multilayer and polymer blend technology that offers increase load stability for food product packaging.

Key Companies profiled:

Some prominent players in the global Stretch & Shrink Film market include.

• Dow
• Bemis
• LyondellBasell
• Linpac Senior Holdings Limited
• Bonset America Corporation
• Groupo Barbier rely

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What Is The Farm Tire Market Growth?

Farm Tire Industry Overview

The global farm tire market size was valued at USD 7.49 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028.

The growing demand for farm tires in agricultural vehicles, coupled with the expansion of the agriculture sector, is projected to boost the market growth over the forecast period. Adoption of advanced technologies by farmers to increase the agricultural yield and meet the rising food demand is projected to be the key factor benefiting the market growth. In addition, the sales of tractors have witnessed substantial growth in the historic years on account of the rising demand for technological up-gradation, thereby having a positive impact on the market growth.

Gather more insights about the market drivers, restraints, and growth of the Global Farm Tire market

The market in China is expected to witness high growth in the years to come on account of the presence of a number of large manufacturing facilities, coupled with the booming population in the country. In addition, improvements in farming technologies and favorable policies are expected to aid the growth of the agriculture industry, thereby driving the demand for related products, including tires.

Rapid urbanization, coupled with the increasing standards of living, has imposed high pressure on food production and productivity across the globe. The expansion of the agricultural sector in order to meet the rising demand for food products is anticipated to benefit the demand for agricultural vehicles, thereby fueling the demand for farm tires over the forecast period.

Increasing demand for products with superior properties, such as high puncture and wear and tear resistance, is likely to propel the production of quality products. In addition, the high production of farm tires, coupled with the rising consumption across the globe, is likely to propel the growth of the market.

Local players mostly focus on their specific strengths and retain their customers by providing custom services to tractor and harvester manufacturers. Companies in the industry also focus on increasing their production capacity as the demand for farm tires is growing in the agricultural industry on account of the increasing demand for agricultural produce.

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Asia Pacific Farm Tire Market - The Asia Pacific farm tire market size was valued at USD 2.88 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2027. The growing agriculture sector in the region is anticipated to drive the demand for the product for farm vehicles.

Automotive Tire Market - The global automotive tire market size was valued at USD 227.7 billion in 2015. Technological advancements across the industry are expected to spur the demand over the forecast period.

Market Share Insights

May 2022 - Apollo Tyres launched the new generation of Agriculture tyres, in the presence of farmers and business partners in Chandigarh. The new ‘VIRAT’ range is an all-rounder, with superior performance in both Agri and Haulage segments, and is available in both, front and rear fitments, the company said in a release. It has been developed with 20 lugs.

June 2019 - John Deere has introduced crop-specific harvesters to meet the requirements of farmers, resulting in the ease of harvesting crops, such as sugarcane and corn. This has led to an increased demand for harvesters for long patches of farms.

Key Companies profiled:

Some prominent players in the global Farm Tire market include

• Balkrishna Industries Limited (BKT)
• Bridgestone Corporation
• Continental AG
• Compagnie Générale des Établissements Michelin (CGEM)
• Sumitomo Rubber Industries, Ltd.
• Titan International, Inc.
• Mitas
• TBC Corporation
• Apollo Tyres Ltd.
• Hankook Tire
• MRF Limited
• JK Tyre & Industries Ltd.
• CEAT
• The Carlstar Group, LLC
• Specialty Tires of America, Inc.
• Alliance Tire Group (ATG)
• Trelleborg AB

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Textile Market Growth Drivers, Vendor Landscape and Raw Material Outlook, 2030

Textile Industry Overview

The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030.

Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market growth over the forecast period. The industry works on three major principles, designing, production, and distribution of different flexible materials, such as yarn and clothing. Several processes, such as knitting, crocheting, weaving, and others, are largely used to manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories.

Gather more insights about the market drivers, restraints, and growth of the Global Textile market

The U.S. is anticipated to be the largest market in the North America region for textiles. It is one of the largest producers, raw cotton exporters, and top raw textile importers. Fashion is the largest application segment in the region owing to the fast-changing fashion trends due to increasing online fast fashion companies. There has been an increasing trend of smart textiles in the market that use optical fibers, metals, and various conductive polymers to interact with the environment. These help in detecting and reacting to various physical stimuli, such as mechanical, thermal, or chemical & electric sources. This is expected to propel the growth of the technical application segment in the market during the forecast period. Increasing consumer preference for sustainable products is forcing major companies to focus on restructuring their business and investing in manufacturing practices that target sustainable products.

For instance, DuPont’s plant-based faux fur for performance fashion apparel and Eastman’s usage of discarded carpet into new material is expected to open new growth avenues over the forecast period. The recent outbreak of coronavirus disease had acted as a restraint to the global market. Global trade restrictions due to disrupted supply chain and decline in textile product consumption amid lockdown had further negatively impacted the market. However, the market is expected to witness a strong recovery during the forecast period due to government support and increasing public awareness about effective precautionary measures.

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Natural Fibers Market - The global natural fibers market size is expected to register high growth over the forecast period of 2019 to 2025. These fibers act as a substitute for synthetic fiber composites and offer superior properties, such as biodegradability and abrasion resistance, which increases their demand in various applications supporting market growth.

Glass Fiber Market - The global glass fiber market is anticipated to grow significantly over the forecast period. Glass fibers are thin strands of silica-based or other glass that is extruded into fibers which can be further processed based on applications.

Market Share Insights

Feb 2021 - The Indian Government has announced the setting up of seven mega textile parks in the next three years. The government has also decided to rationalize the duties on raw material inputs to manmade textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %.

Feb 2021 - Paraguay’s Ministry of Industry and Commerce announced that it will be investing USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

Key Companies profiled:

Some prominent players in the global textile market include:

• BSL Ltd.
• INVISTA Srl.
• Lu Thai Textile Co., Ltd.
• Paramount Textile Ltd.
• Paulo de Oliveira, S.A.
• Successori REDA S.p.A.
• Shadong Jining Ruyi Woolen Textile Co. Ltd.
• Sinopec Yizheng Chemical Fibre Company Ltd.
• China textiles Ltd.
• Rhodia SA
• Li & Fung Group
• Modern Woollens Ltd.
• Mayur Suitings
• JCT Ltd.

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Quality Management Software Market To Expand At A CAGR of 9.7% From 2021 To 2028

Quality Management Software Industry Overview

The global quality management software market was valued at USD 8.25 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028.

The growing importance of customer-centric production and frequent changes in regulations and standards that demand recurring compliances are driving the growth of the market. Registration to ISO 90001, ISO 14001, and other international standards has become imperative for organizations to run businesses worldwide as it enables them to meet market demands, competitive pricing, legislative requirements, and satisfy customer needs. The outbreak of the COVID-19 pandemic has negatively impacted the manufacturing and transport and logistics industries. The suspension of production and trade of various goods and services is expected to affect the QMS market in the short term.

Gather more insights about the market drivers, restraints, and growth of the Global Quality Management Software market

However, individuals across the globe have turned to the internet for online shopping, leading to the rapid growth of the business-to-consumer markets. The volumes of goods being shipped have increased, along with enhancements in the profiles of the goods. In response to this, logistics companies have started fast-tracking their development, quality and safety management standards, and growth strategies with significant investments in e-commerce, assets, and people. Such developments are likely to boost the growth of the quality management software market in the transport and logistics domain over the coming years.

Businesses across the globe are widely recognizing the need for an inclusive QMS to enhance business performance and gain a competitive advantage. They are proactively assessing and investing in QMS solutions to ensure that quality standards are maintained at every stage of the product lifecycle. Technological advancements such as cloud computing, analytics, and big data have further enhanced the existing capabilities of QMS in terms of scalability, cost-efficiency, flexibility, and platform independence, among others. As a result, end-use industries such as life sciences, manufacturing, and IT and telecom are rapidly adopting QMS solutions.

QMS solution providers are focused on enhancing sustainability practices to help companies reduce wastes and carbon footprint. Organizations deploy these solutions to align their processes with standards such as United Nations’ Sustainable Development Goals (SDGs) to reduce carbon emissions. While QMS solutions offer several benefits to users, they also involve some challenges such as lack of collaboration, and misalignment with the existing IT infrastructure. While vendors have proactively been trying to tackle these issues, the widespread acceptance of cloud-based deployment of QMS is expected to prove beneficial in addressing these challenges across industries and verticals.

The stringent compliance of quality management standards and international technical specifications such as IATF 16949, AS9100 Rev.D, and ISO 9001is expected to increase the implementation of QMS across end-use industries. Moreover, the C-level executives across organizations are taking efforts to align quality management with strategic business objectives. Many organizations are taking advantage of quality management methodologies such as ISO standards and Six Sigma to improve process efficiency, productivity, and eventually customer satisfaction. As a result, quality process automation, supplier quality assurance, and compliance management are anticipated to become the prime focus areas of QMS end users over the coming years.

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• Computer Aided Engineering Market - The global computer aided engineering (CAE) market size was valued at USD 8,904.2 million in 2021 and is expected to expand at a CAGR of 8.8% from 2022 to 2030, owing to the increased outsourcing of manufacturing processes to emerging economies such as China, India, and Russia, among others. The market all over the globe is witnessing a drastic shift from on-premise computing to cloud-based computing.

• SaaS Market - The global SaaS market size was valued at USD 165.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 11.0% from 2022 to 2028. The COVID-19 outbreak further positively impacted the market for SaaS as many of the enterprises opted for cloud software platforms during the lockdown. Therefore, the significant increase in the adoption of third-party software services across the globe during the pandemic further augmented the growth of the market for SaaS.

Market Share Insights

December 2020 - Honeywell International Inc., a provider of industry-specific solutions for automotive and aerospace products, agreed to acquire Sparta Systems Inc. to expand its software and life science capabilities. Through this acquisition, the company aims to further strengthen its competencies in digital transformation solutions, industrial automation, and enterprise performance management software.

August 2020 - MasterControl, Inc. launched its new solution, MasterControl Manufacturing Excellence, to enhance manufacturing operations by driving efficiency and quality. The new solution would enable manufacturers to create dynamic connections among enterprise systems, processes, data sources, and people for a holistic view of production and quality data.

Key Companies profiled:

Some prominent players in the global Quality Management Software market include

• Aras Corporation
• Arena Solutions Inc
• Autodesk Inc
• Dassault Systemes SE
• Hewlett-Packard Enterprise Co.
• MasterControl, Inc.
• Microsoft Corporation
• Oracle Corporation
• Parasoft Corporation
• PSC Software
• SAP SE
• Siemens AG
• Sparta Systems, Inc.

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Fluid Dispensing Systems Market Is Anticipated To Register A CAGR of 6.7% By 2025

Fluid Dispensing Systems Industry Overview

The global fluid dispensing systems market size accounted for USD 35.62 billion in 2018 and is estimated to expand at a CAGR of 6.7% by 2025.

Growing demand for systems in end use industries such as electrical and electronics, automotive, and construction applications is anticipated to drive the growth. Proliferation of the latest technologies enabling automation in industries has fueled growth of fluid dispensing systems (FDS) and equipment market.

The market has been gaining impetus from increasing adoption of novel technologies in the automotive sector. With the technological advancements and growing demand from various end-use industries, new products with better efficiencies are being developed by manufacturers to meet specific requirements. Growing electrical and electronics industry in Asia Pacific and Middle East and Africa is anticipated to boost demand for fluid dispensing systems in semiconductor packaging and circuit assembly.

Gather more insights about the market drivers, restraints, and growth of the Global Fluid Dispensing Systems market

The FDS deliver high quality, repeatable, and reliable solutions to various end-users thereby improving their manufacturing process. Manufacturers are focusing on R&D activities to provide customized solutions to industries for carrying out diverse operations.

Rising environmental concerns and favorable regulations regarding carbon emissions, by agencies such as the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) and Environmental Protection Agency (EPA) have nurtured the development of bio-based hot melt adhesives. This trend is expected to boost demand for dispensers such as hot-melt application guns, pattern controllers, and others. Growing preference for packaged foods and increasing spending on construction projects are also major growth drivers.

The U.S. fluid dispensing systems market is primarily driven by the growing demand from electronics, transportation, and medical device industries, owing to government regulations that encourage and support lower resource wastage that contribute to cost and energy savings. Robotic fluid dispensers are increasingly replacing manual applicators owing to their high level of control, ability to create repeated and standardized fluid patterns on substrates and overall efficiency.

Dispersing systems are basically equipment that help in applying precise and controlled amount of assembly fluids along with adhesives, sealants, and lubricants in manufacturing processes. The continuous evolution in dispensing systems manufacturing techniques has resulted in a continuously improving and widening application scenario as compared to the traditional techniques.

Automated fluid dispensing has been utilized in semi-conductor manufacturing and circuit assembly such as development of the Advanced Integrated Circuit Encapsulation (AICE) and Surface Mount Technology (SMT). Pertaining to these applications, four kinds of dispensing technologies are majorly employed, namely, time-pressure dispensing, auger-pump dispensing, true positive displacement dispensing, and jet dispensing.

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• Injection Molded Plastics Market - The global injection molded plastics market size was valued at USD 284.7 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 4.2% during the forecast period. The growing demand for plastic components from various end-use industries including automotive, packaging, home appliances, electrical & electronics, and medical devices is anticipated to drive the market.

• Recycled Plastics Market - The global recycled plastics market size was valued at USD 46.09 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. However, the COVID-19 pandemic severely affected the manufacturing industries in 2020, which further affected the demand for plastics.

Key Companies profiled:

Some prominent players in the global Fluid Dispensing Systems market include

• Graco
• Protec Co. Ltd.
• Speedline Technologies
• Musashi Engineering Inc.
• GPD Global Inc.
• Fisnar Inc.
• Techcon Systems
• Intertronics
• Valco Melton
• Dymax Corp.
• Henline Adhesive Equipment Corp.
• ITW Dynatec
• Sulzer Mixpac
• IVEK Corp.

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Hand Sanitizer Market Experiences Noticeable Growth Of USD 10.84 Billion By 2030

Hand Sanitizer Industry Overview

The global hand sanitizer market size was valued at USD 6.02 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030.

Rising global awareness regarding sanitation and personal hygiene is expected to drive the demand for hand sanitizer as it is an antiseptic solution, which is used as an alternative to soap and water. Moreover, it helps in preventing some of the most infectious diseases, including COVID-19, norovirus, influenza, meningitis, hand, foot, and mouth disease, pertussis (whooping cough), and methicillin-resistant staphylococcus aureus (MRSA).

The COVID-19 pandemic has called for the increased use of hand sanitizers worldwide in public facilities, transportation, hospitals, nursing homes, and even common households to mitigate the virus burden. Active ingredients such as ethyl alcohol used to manufacture sanitizers are recommended for use against COVID-19 viruses by The United States Food and Drug Administration (FDA) which claims to be effective against the SARS CoV-2 virus. Such factors are likely to bode well with the market growth.

Gather more insights about the market drivers, restraints, and growth of the Global Hand Sanitizer Market

Health and hygiene concerns are increasing among individuals worldwide on account of rising awareness regarding the impact of COVID-19 on the population. The market has been witnessing significant developments in the hand sanitizer industry worldwide in the wake of the ongoing pandemic crisis. However, with the supply chain disruptions and widening supply-demand gaps worldwide, the industry is currently facing significant challenges with regard to ramping up manufacturing capacities to help mitigate the supply shortage. In order to address this supply shortage, several companies have begun leveraging their mass production capabilities to manufacture these products for their domestic markets.

For instance, in April 2020 Honeywell announced an expansion of its manufacturing operations at two chemical manufacturing facilities to produce and donate hand sanitizer to government agencies in response to shortages created by the COVID-19 pandemic. The company's sites in Muskegon, Michigan, Seelze, and Germany, would produce these products over the next two months-(May and June 2020) for government agencies, and institutions in need.

However, third-party manufacturers or contract, manufacturers, have been critical to major brands in increasing their output in 2020-2021. For instance, in April 2020, SC Johnson, a global manufacturer of household and professional cleaning and disinfecting products, has converted a line reserved for testing new products to produce up to 75,000 bottles of hand sanitizer per month for health workers, first responders, and the company’s own production employees.

There have been many investments done by several companies to expand their business in other markets. For instance, in April 2020, Unilever plc. adapted one of its deodorant manufacturing lines in the U.K. to produce supplies of hand sanitizer for the Leeds Teaching Hospital NHS Trust, and the first batch of more than 700-liter sanitizer was supplied to St James’s University Hospital.

Innovators and entrepreneurs across the globe are reinventing their business models in light of the coronavirus pandemic. In the craft cocktail arena, breweries and distilleries are transitioning their focus from spirits to hand sanitizers. For instance, in May 2020, Doctor Shultz’s, partnered with Ilthy, a clothing brand for manufacturing and supplying hand sanitizers and face masks.

Given that the COVID-19 pandemic continues to be both unpredictable and rapid, the demand for these antibacterial products across the globe, especially in severely affected countries, will be largely shaped by the duration of the crisis. Though the sales were fast-moving throughout 2020, the product demand is anticipated to gradually decrease post-COVID as conditions become favorable.

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• Craft Spirits Market - The global craft spirits market size was valued at USD 13.23 billion in 2021 and is expected to expand at a CAGR of 28.3% from 2022 to 2030. Some of the primary reasons driving market expansion are rising demand for craft spirits and an increase in the number of craft distilleries, and rising disposable incomes.

• After Sun Care Products Market - The global after sun care products market size was valued at USD 1.14 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. One of the primary factors driving market expansion is the rising consumer awareness regarding the benefits associated with the use of after sun care products such as protecting the skin from the harmful effects of the sun, skin hydration, and others which is influencing its demand across the globe.

Market Share Insights

May 2022 - Northern California-based Best Sanitizers, Inc. is joining forces with parent company Saraya Co., Ltd., and the World Health Organization to help support World Hand Hygiene Day.

March 2021 - Cleancult, a non-toxic, zero-waste cleaning brand launched a foam-based hand sanitizer, made from fragrance-free formula and is FDA approved disinfectant and claims to kill 99.9% of germs.

Key Companies profiled:

Some prominent players in the global Hand Sanitizer market include

• Reckitt Benckiser Group plc
• Procter and Gamble
• The Himalaya Drug Company
• GOJO Industries, Inc.
• Henkel AG and Company
• Unilever
• Vi-Jon
• Chattem, Inc.
• Best Sanitizers, Inc.
• Kutol

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Increasing Spending On Healthcare Products Is Projected To Augment Drive Dietary Supplements Market Growth

Dietary Supplements Industry Overview

The global dietary supplements market size was valued at USD 151.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.

Increasing consumer awareness toward personal health and wellbeing is expected to be a key driving factor for dietary supplements over the forecast period.  The working population around the globe is struggling to fulfill the dairy nutrient requirements owing to hectic work schedules and changing lifestyles. Increasing dependence on the supplements to fulfill the nutrient requirement owing to their high convenience is expected to drive the market over the forecast period.

Gather more insights about the market drivers, restraints, and growth of the Global Dietary Supplements Market

The U.S. emerged as a leading market for dietary supplements in the North American region owing to the higher spending capacity of the consumers. Increasing spending on healthcare products, the rising geriatric population, rising interest in preventive healthcare, and growing interest in attaining wellness through diet are expected to augment market growth over the forecast period. A growing number of fitness centers, health clubs, and gymnasiums coupled with growing awareness about fitness among the youngsters is expected to increase the demand for energy and weight management. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition which in turn benefits the market for dietary supplements.

Research and development are the key success factor for dietary supplements which requires heavy investments. Also, stringent regulations regarding the health benefits claim and labeling of the products are expected to create challenges for the dietary supplements over the forecast period. The unprecedented outbreak of the COVID-19 pandemic has largely affected North America and European countries such as the U.S, Italy, Spain, the U.K., France, and Germany. The dietary supplement industry is largely concentrated in these regions which in turn benefitted from the situation as the market witnessed a surge in demand for immunity-boosting supplements.

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• Vitamins & Minerals Market - The global vitamins & minerals market size was valued at USD 23.29 billion in 2021 and is expected to expand at a compound annual growth (CAGR) rate of 4.6% from 2022 to 2028. Growing self-care and increasing adoption of a more protective approach to wellness is primarily driving the vitamins & minerals market growth.

• Protein Supplements Market – The global protein supplements market size was valued at USD 20.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2030. The market is gaining momentum owing to the increasing number of health-conscious consumers and fitness centers around the globe.

Market Share Insights

January 2020 - Herbalife Nutrition introduced a new product Beta heart. The product is specifically designed to maintain colosterol level in the blood. A vanilla flavored product, Beta heart is available in a 15 grams sachet.

April 2019 - Ayanda received a patent for a soft gel capsule in Europe that can contain active probiotic bacteria. Before the invention, the application of gels to carry probiotic bacteria was difficult as the production of gels requires high temperatures which did not allow bacteria to survive.

Key Companies profiled:

Some prominent players in the global Dietary Supplements market include.

• Amway Corp.
• Glanbia PLC
• Abbott
• Bayer AG
• Pfizer Inc.
• ADM
• Nu Skin Enterprises, Inc.
• GlaxoSmithKline plc
• Bionova
• Ayanda
• Arkopharma
• Herbalife International of America, Inc.
• Nature’s Sunshine Products, Inc.

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Managed Services Market Demand Is Increasing As The Size Surpasses USD 731.08 Billion By 2030

Managed Services Industry Overview

The global managed services market size was valued at USD 239.71 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2030.

The outbreak of the COVID-19 pandemic, which has triggered the need for business automation as businesses aggressively resort to remote working, can be attributed to the growth. According to an IDG report commissioned by NTT Ltd., nearly 55% of companies are approaching managed service providers to opt for their value-added services and reduce security risks, which have multiplied since the pandemic's outbreak as employees work remotely and business partners and customers rely entirely on electronic communication. These trends are expected to create enormous growth opportunities for managed service providers in the short and long term.

Managed services help businesses improve operational efficiency and reduce operating expenses while allowing them to focus more effectively on core competencies. Managed services ensure optimal resource distribution and utilization and subsequently help in augmenting the overall profitability and improving operational efficiency. Scalable infrastructure and flexible managed services models are particularly making it easier for businesses to respond to technological advances. All such factors are expected to drive the market's growth over the forecast period.

Gather more insights about the market drivers, restraints, and growth of the Global Managed Services Market

Managed services involve outsourcing management functions to a third party to advance business operations. The introduction of cloud-based technologies and their technological proliferation have led to managed services. Managed services assist businesses in improving operational efficiency and cutting down companies' operating expenses. The growing preference for outsourcing management functions to cloud service providers and managed service providers is anticipated to drive the growth of the market over the forecast period.

The outbreak of the COVID-19 pandemic is particularly prompting businesses to put a strong emphasis on remote working. The adoption of cloud services has particularly increased as businesses remain keen on ensuring business continuity during the lockdowns imposed by various governments as part of the efforts to contain the spread of corona virus. Most companies are already renewing their contracts with managed cloud service providers in anticipation of cloud migration getting more common among enterprises, and in some cases, even gaining traction. Furthermore, businesses and organizations were putting a strong emphasis on adopting the latest technologies, such as machine learning and augmented reality, along with their existing IT infrastructure as part of the efforts to encourage digital transformation.

Adoption of the latest technologies such as Artificial Intelligence (AI), cloud management, and others is eventually helping organizations meet various functional business requirements while driving business process optimization. Managed services deliver effective functionalities at minimal costs without compromising on quality. Additionally, managed services also support and ensure the reliability and consistency of services offered for various business processes.

However, a lurking lack of knowledge and experience in integrating new technologies and implementing managed services is expected to limit the managed services market's growth over the forecast period. Other factors, such as concerns about the efficacy of managed services models, concerns about data security and privacy protection, and the need for skilled resources, among others, are expected to limit market growth to some extent.

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• Augmented Reality Market - The global augmented reality market size was estimated at USD 25.33 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 40.9% from 2022 to 2030. Companies are putting a strong emphasis on finding unique ways to exploit the potential of augmented reality (AR) technology and providing a unique and interactive experience to end-users is expected to drive the growth of the market over the forecast period.

• Artificial Intelligence Market - The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.

Market Share Insights

July 2021 - Accenture acquired Cloudworks, an Oracle Cloud implementation services provider in North America. The acquisition would help the former company expand its reach in Canada by providing Oracle solutions to the client.

November 2019: DXC Technology Company launched a new cloud solution named DXC Managed Multi-Cloud Services. The new solution is powered by VMware, which provides consistent service management and enables users to maximize investments in VMware to take a multi-cloud competitive advantage.

Key Companies profiled:

Some prominent players in the global Managed Services market include

• Accenture PLC
• Alcatel-Lucent Enterprise
• AT&T Inc.
• Avaya Inc.
• BMC Software, Inc.
• CA Technologies
• Cisco Systems, Inc.
• DXC Technology Company
• Ericsson
• Fujitsu Limited
• Hewlett Packard Enterprise Development LP
• International Business Machines Corporation
• Lenovo Group Limited

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