Supply Chain Analytics Market to Provide Lucrative Growth Opportunities with Revenue of $22.46 Billion By 2030

Supply Chain Analytics Industry Overview

The global supply chain analytics market size is expected to reach USD 22.46 billion by 2030, registering a CAGR of 17.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. Supply chain analytics is becoming popular as the demand for managing vast volumes of company data and its insights for strategic applications grows. As the demand for automation technologies and investment from technology developers grows, so does the demand for cognitive computing and Artificial Intelligence (AI). The growing awareness among businesses about the advantages of Supply Chain Analytics (SCA) in terms of improved visibility across the whole supply chain is fueling the demand for analytics solutions.

Supply Chain Analytics Market Segmentation

Grand View Research has segmented the global supply chain analytics market based on solution, service, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Logistics Analytics, Manufacturing Analytics, Planning & Procurement, Sales & Operations Analytics, and Visualization & Reporting.

• The sales & operations analytics segment captured a market share exceeding 29% in 2021. The need to optimize resource utilization and cost are vital considerations contributing to the overall segment growth in 2021.
• Logistics analytics solutions assist in connecting transportation networks to forecast market demand and locate product supply points. The utilization of big data in supply chain analytics helps improve supply chain and logistics operations, effectively address customer requirements, and enhance customer satisfaction and loyalty. 
• The planning & procurement segment is anticipated to register considerable growth over the forecast period.

Based on the Service Insights, the market is segmented into Professional, Support & Maintenance.

• The professional service segment held the highest market share of over 61.5% in 2021. To avoid data loss or theft, professional services must ensure that the new systems are compatible with the existing systems of numerous departments and integrate the new systems with the existing ones, increasing segment growth.
• The support & maintenance segment is anticipated to register a promising CAGR over the forecast period. 

Based on the Deployment Insights, the market is segmented into Cloud and On-Premise.

• The cloud segment held the highest market share of more than 62% in 2021.
• Cloud deployment increases flexibility and allows the large-scale customization of products and services for organizations. The industry is particularly opting for big data analytics solutions due to their benefits in data safety and risk analysis.

Based on the End-Use Insights, the market is segmented into Retail & Consumer Goods, Healthcare, Manufacturing, Transportation, Aerospace & Defense, High Technology Products and Others.

• The manufacturing segment held the highest market share of over 24% in 2021. 
• The global demand for efficient supply networks is going to be driven by the expanding e-commerce industry, as well as the integration of big data and machine learning into supply chain analytics. Over the forecast period, this is expected to drive the retail & consumer goods segment.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprise and Small & Medium Enterprises.

• The large enterprise segment led the market with the highest revenue share of over 60% in 2021. The increased demand for strong monitoring solutions and automation capabilities for resource allocation and strategic decision-making boosted the growth of the segment.
• The growing adoption of information technology infrastructure by SMEs to enable digital services across different business channels in SMEs is also expected to drive the growth of the segment over the forecast period.

 Supply Chain Analytics Regional Outlook

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

Key Companies Profile & Market Share Insights

Market players are pursuing various growth strategies such as new product development, mergers & acquisitions, joint ventures, and collaborations to stay competitive and expand their reach in the global market. 

Some prominent players in the Global Supply Chain Analytics market include:

• Accenture PLC
• Aera Technology
• Birst, Inc.
• Capgemini SA
• Genpact Limited
• International Business Machines Corporation
• JDA Software Group, Inc.
• Kinaxis
• Lockheed Martin Corporation
• Maersk Group
• Manhattan Associates, Inc.

Order a free sample PDF of the Supply Chain Analytics Market Intelligence Study, published by Grand View Research.

Different Technologies and Improvements Augment the Demand of Window Covering Market By 2030

Window Covering Industry Overview

The global window covering market size is expected to reach USD 60.16 billion by 2030, registering a CAGR of 7.6% during the forecast period, according to a new report by Grand View Research, Inc. Rising income levels, changing lifestyles, and the influence of other cultures have all contributed to increased consumer expenditure on home décor. Over the forecast period, all of these aspects are expected to present considerable growth possibilities to market vendors.

Window Covering Market Segmentation

Grand View Research has segmented the global window covering market based on type, application, distribution channel, installation, technology, and region

Based on the Type Insights, the market is segmented into Blinds & Shades, Curtains, Shutters and Others.

• In terms of revenue, the blinds and shades segment led the market and accounted for a 39.8% share of the global revenue in 2021.
• The curtains segment is anticipated to expand at a CAGR of 7.8% from 2022 to 2030.
• In the curtain market, traditional craftsmanship is becoming highly valued. Moreover, DIY consumers dominate the window curtain industry. The segment expansion is fueled by the widespread availability of window curtain items and the ease with which they can be installed.

Based on the Technology Insights, the market is segmented into Automatic and Manual.

• The manual segment made the largest revenue contribution of over 90.0% to the global market in 2021. Dwelling sizes have shrunk as a result of rapid urbanization, necessitating the usage of multipurpose home furniture and window coverings.
• The automatic segment is anticipated to expand at the fastest CAGR of 8.9% from 2022 to 2030. Smart home automation technologies are becoming increasingly popular around the world, and some home stores are now stocking smart dimmers and motion sensor kits.

Based on the Application Insights, the market is segmented into Residential and Commercial.

• The residential segment led the market and accounted for more than 55% share of the global revenue in 2021.
• The category is being driven by an increase in the number of households and rising urbanization in developing economies such as India and China.
• The commercial segment is anticipated to expand at a faster CAGR of 7.7% from 2022 to 2030.

Based on the Distribution Channel Insights, the market is segmented into Online and Offline.

• The offline distribution channel made the largest revenue contribution of over 80.0% in 2021. Consumers prefer home décor stores such as Home Center as they have a larger selection of patterns and colors.
• The online channel is projected to register a CAGR of 8.0% from 2022 to 2030. E-commerce in the home décor industry is growing, and it helps companies reach a wider audience.

Based on the Installation Insights, the market is segmented into New Construction and Retrofit.

• The retrofit segment led the market and accounted for a 56.8% share of the global revenue in 2021. In the residential sector, renovation and retrofitting is a prominent trend driving the market for window coverings.
• The new construction segment is anticipated to expand at a CAGR of 7.3% from 2022 to 2030. The demand for window coverings is likely to be driven by expanding residential developments and the robust growth of the commercial construction industry.

Window Covering Regional Outlook

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

Key Companies Profile & Market Share Insights

The window covering the market includes both international and regional participants. Key market players are focusing on product innovation to enhance their portfolios. In August 2020, Blinds.com, a Home Depot Company, expanded its popular cellular shades line to include a comprehensive, integrated system that could cover any window in the house, offering customers the advantages of cordless operation without the need for motorization

Some prominent players in the Global Window Covering market include:

• Hunter Douglas
• Lotus & Windoware, Inc.
• Bombay Dyeing
• Insolroll
• Mariak
• Welspun India Limited
• Skandia Window Fashions
• MechoShade Systems, LLC
• Lafayette Interior Fashions
• Comfortex Window Fashions

Order a free sample PDF of the Window Covering Market Intelligence Study, published by Grand View Research.

Rising Awareness Regarding Employee Health And Wellbeing Stoke The Growth Of Corporate Wellness Market

Corporate Wellness Industry Overview

The global corporate wellness market size is expected to reach USD 93.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. The rising obese and overweight population increases insurance costs that account for the financial burden on employers. The corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating, and lack of exercise.

Corporate Wellness Market Segmentation

Grand View Research has segmented the global corporate wellness market on the basis of service, end-use, category, delivery model, and region:

Based on the Service Insights, the market is segmented into Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others.

• The health risk assessment segment dominated the market for corporate wellness and accounted for the largest revenue share of 21.1% in 2020.
• The stress management segment is likely to showcase the fastest growth rate from 2021 to 2028, owing to the rising preference for on-site yoga and meditation services

Based on the End-Use Insights, the market is segmented into Small Scale Organizations, Medium Scale Organizations, and Large Scale Organizations.

• The large-scale organizations dominated the end-use segment and accounted for the largest revenue share of 52.8% in 2020. 
• Larger organizations can incorporate programs and services into their company’s infrastructure. Small-scale organizations can benefit from corporate memberships and outsourcing the services.

Based on the Category Insights, the market is segmented into Fitness & Nutrition Consultants, Psychological Therapists, and Organizations/Employers.

• In the category segment, organizations dominated the market and accounted for the largest revenue share of 50.3% in 2020.
• The service providers offer in-house as well as outsourced health management services for large as well as small-scale corporations.
• The trend of on-site fitness, which includes yoga and meditation, is becoming popular. Therefore, the stress management segment is anticipated to witness the fastest growth from 2021 to 2028.

Based on the Delivery Model Insights, the market is segmented into Onsite and Offsite.

• Onsite corporate wellness programs dominated the delivery model segment and accounted for the largest revenue share of more than 57% in 2020. The segment is anticipated to witness a high growth rate over the forecast period.
• Onsite wellness initiatives provide a personal touch to employee wellbeing, along with the facilities to exercise under the guidance of fitness consultants and coaches to meet their personal health needs.

Corporate Wellness Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is characterized by the increase in many corporations focusing on expansion to include in-house corporate wellness services. In the U.S., there are more than 550 organizations offering employee wellness programs. Some of the market players are expanding in order to accommodate and cater to larger groups of employees. 

Some prominent players in the Global Corporate Wellness market include:

• ComPsych
• Wellness Corporate Solutions
• Virgin Pulse
• Provant Health Solutions
• EXOS
• Marino Wellness
• Privia Health
• Vitality Group
• Wellsource, Inc.
• Central Corporate Wellness
• Truworth Wellness
• SOL Wellness
• Well Nation
• ADURO, INC.
• Beacon Health Options
• Fitbit, Inc.

Order a free sample PDF of the Corporate Wellness Market Intelligence Study, published by Grand View Research.

Waterjet Cutting Machine Market Is Expected To Grow At A Compound Annual Growth Rate Of 5.1%

Waterjet Cutting Machine Industry Overview

The global waterjet cutting machine market size is expected to reach USD 1.4 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. Growing advancements and innovations in the waterjet cutting industry has led to the development of robotic waterjet cutters, which has contributed to improving the operational efficiency across various sectors. Moreover, the innovation of pumps from traditional intensifier designs to fast direct drive pumps coupled with the enhanced nozzle designs to provide improved cutting rates can be attributed to the increased demand for waterjet cutting machines.

Waterjet Cutting Machines Market Segmentation

Grand View Research has segmented the global waterjet cutting machine market on the basis of type, application, and region:

Based on the Type Insights, the market is segmented into Pure and Abrasive.

• PWCM segment is expected to grow significantly over the forecast period, registering a CAGR of 5.6% from 2020 to 2027.
• PWCM is usually used to cut softer materials, including gaskets, foam, paper, plastics, insulation, disposable diapers, cement board, food, and carpet. 
• Abrasive waterjet cutting machine (AWCM) dominated the market in 2019 and is expected to continue its dominance over the forecast period.
• Growing demand for precise automotive performance parts and other cut-out materials such as brake types, wings, turbine, gears in aerospace and defense, electronics, mining, textiles, food, and beverage industries is attributing to segmental growth.

Based on the Application Insights, the market is segmented into Automotive, Electronics, Aerospace & Defense, Mining, Metal Fabrication and Others.

• The automotive application segment is expected to grow with a CAGR of 4.8% from 2020 to 2027.
• Demand for waterjet cutting machines in the aerospace and defense application is anticipated to register a higher CAGR over the forecast period.
• Increasing investment and research and development in the aerospace and defense industry further aggregate demand for highly efficient machinery such as the WCM across the globe and thus the application segment is expected to witness a CAGR of 5.4% over the forecast period.
• Additionally, the popularity of waterjet cutting machines is also growing among other application areas such as food, beverage, tobacco, and custom packaging solutions.

Waterjet Cutting Machine Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of World

Key Companies Profile & Market Share Insights

The global market comprises both global as well as regional players that are engaged in the design, manufacturing as well as the distribution of WCMs. Major players have invested extensively in research and development operations in recent years. The existence of local players in the Asia Pacific poses a substantial threat to the global companies in terms of product quality and price offered to the customers. The market is projected to witness growth opportunities in emerging economies of Asia Pacific and Central and South America.

Some prominent players in the Global Waterjet Cutting Machine market include:

• Colfax Corporation
• Dardi International Corporation
• Omax Corporation
• Flow International Corporation
• Koike Aronson, Inc.
• Hornet Cutting Systems
• WARDJet, Inc. (AXYZ Automation Group)

Order a free sample PDF of the Waterjet Cutting Machine Market Intelligence Study, published by Grand View Research.

Rising Incidence Of Hospital-Acquired Infections To Drive Hospital Gowns Market By 2030

Hospital Gowns Industry Overview

The global hospital gowns market size is expected to reach USD 12.8 billion by 2030, registering a CAGR of 12.88%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), the impact of the COVID-19 outbreak, and the increasing number of surgical procedures are the key driving factors for the market growth.

To meet the rising worldwide demand, the World Health Organization (WHO) has urged the industry and governments to increase the production of personal protective equipment such as surgical masks, gloves, hospital gowns, respirators, aprons, face shields, and goggles by 40%. COVID-19 has had a significant impact on the growth of the market for hospital gowns and is widely regarded as a highly significant market driver.

Hospital Gowns Market Segmentation

Grand View Research has segmented the global hospital gowns market based on type, usability, risk type, and region:

Based on the Type Insights, the market is segmented into Surgical Gowns, Non-surgical Gowns and Patient Gowns.

• The surgical gowns segment led the market and accounted for more than 53.2% share of the global revenue in 2021. Surgical gowns are designed to protect against various contaminations and infections during surgical procedures.
• The patient gowns segment is anticipated to witness the fastest growth rate at a CAGR of 14.65% during the forecast period. Over the projection period, an increase in initiatives by prominent market participants is expected to drive product demand.

Based on the Usability Model Insights, the market is Disposable Gowns and Reusable Gowns.

• The disposable gowns segment led the market and accounted for more than 67.42% share of the global revenue in 2021. Disposable hospital gowns are a cost-effective solution because they are used only once.
• The reusable gowns segment is anticipated to witness the fastest CAGR of 12.97% during the forecast period. Over the projection period, rising occurrences of hospital-acquired infections are expected to enhance segment growth. 

Based on the Risk Type Insights, the market is segmented into Minimal, Low, Moderate, and High.

• The high-risk gowns segment led the market and accounted for more than 28.56% share of the global revenue in 2021. During surgical and fluid-intensive procedures, high-risk hospital gowns can assist in guarding against germs and infectious diseases.
• The minimal risk gowns segment is anticipated to witness the fastest growth rate of 13.75% during the forecast period. In basic care units, standard medical units, standard isolation, and as cover robes for visitors, as well as for research and academic purposes, minimal risk hospital gowns are utilized.

Hospital Gowns Regional Outlook

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

Key Companies Profile & Market Share Insights

The key players are focusing their resources on research and development to develop technologically advanced products to gain a competitive edge. They also engage in partnerships and mergers & acquisitions aiming to strengthen their product portfolio and manufacturing capacities and provide competitive differentiation. 

Some prominent players in the Global Hospital Gowns market include:

• Medline Industries, Inc.
• Standard Textile Co., Inc.
• Angelica Corporation
• AmeriPride Services Inc.
• 3M
• Cardinal Health

Order a free sample PDF of the Hospital Gowns Market Intelligence Study, published by Grand View Research.

Computer Aided Engineering Market Revenue Opportunities and Gross Margin Analysis By 2030

Computer Aided Engineering Industry Overview

The global computer aided engineering market size is anticipated to reach USD 19.19 billion by 2030, registering a CAGR of 8.8%, according to a new report by Grand View Research, Inc. Rapid growth of the wearable industry is likely to increase the use of CAE software in the electronics industry. The major players in the market are in search of new sources of revenue as the smartphone market is in the maturity stage. As a result, the demand for wearable technology has increased the demand during the forecast period.

Computer Aided Engineering Market Segmentation

Grand View Research has segmented the global CAE market based on type, deployment model, end-use, and region:

Based on the End-use Insights, the market is segmented into Automotive, Defense & Aerospace, Electronics, Medical devices and Industrial equipment, and Others.

• In 2021, the automotive end-use industry held the largest market share of 30.05% in the global market and is expected to exhibit a CAGR of nearly 7.4% from 2022 to 2030.
• The defense and aerospace end-use is expected to witness the highest growth rate of 10.4% over the forecast period, owing to the increasing use of CAE software.
• The growing government spending in the defense & aerospace segment, for modernizing anti-terror equipment and mitigating security lapses, is anticipated to increase the growth of the segment.
• Additionally, advanced technologies such as Color Noise Reduction (CNR) for truer colors, Backside Illumination (BSI) for high sensitivity, and High Dynamic Range (HDR) for smooth and crisp video, are anticipated to provide opportunities for electronics segment growth. 
• The medical imaging market is gaining traction in the market owing to its efficiency in diagnosing complex medical conditions.
• The rising prevalence of critical and chronic diseases, such as cardiovascular diseases & cancer, and increasing awareness of early diagnosis are the key factors driving the demand for imaging systems in healthcare facilities.

Based on the Deployment Model Insights, the market is segmented into On-premise and Cloud Based.

• In 2021, the on-premise segment held a market share exceeding 66.02% in the global market and is expected to exhibit a CAGR of nearly 6.7% from 2022 to 2030. 
• Cloud computing offers easy access to data, vast space for data storage, and security. Moreover, cloud-based CAE, offered as a Software-as-a-Service (SaaS), renders application-specific solutions to the CAE users. Hence, the cloud-based deployment model is expected to portray a high growth rate during the projected period.

Based on the Type Insights, the market is segmented into Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody dynamics and Optimization & simulation.

• In 2021, the FEA segment accounted for a market share of more than 50.91% and is anticipated to dominate the market during the forecast period.
• Computational fluid dynamics involves the qualitative prediction of fluid flow using mathematical modeling and software tools. 

Computer Aided Engineering Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The companies are offering specialized products and services to their customers at premium prices. This is expected to maintain the low bargaining power of the buyers. They are aiming to create a strong customer base by investing in sales and marketing.

Some prominent players in the Global Computer Aided Engineering market include:

• ANSYS, Inc.
• Altair Engineering
• Autodesk, Inc.
• Bentley Systems, Inc.
• Dassault Systemes
• ESI Group
• Exa Corporation
• Mentor Graphics Corporation (A subsidiary of Siemens AG)
• MSC Software Corporation (A subsidiary of Hexagon AB)
• Siemens AG

Order a free sample PDF of the Computer Aided Engineering Market Intelligence Study, published by Grand View Research.

Car Care Products Market Growth Drivers, Vendor Landscape and Raw Material Outlook By 2030

Car Care Products Industry Overview

The global car care products market size is expected to reach USD 14.48 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.3% from 2021 to 2028. The increasing awareness among customers regarding the maintenance of cars to increase their life is expected to drive the market over the forecast period.

Car Care Products Market Segmentation

Grand View Research has segmented the global car care products market based on product, packaging volume, end-use, distribution channel, and region:

Based on the Product Insights, the market is segmented into Car Cleaning Products, Car Polish, Car Wax, Glass Cleaning Products, Interior Care Products, Wheel & Tire Care Products, and Others.

• Car cleaning products led the market and accounted for above 31.0% share of the global revenue in 2020. This is attributed to the wide usage of shampoo and detergent for the cleaning of the exterior metal surface of the cars.
• The car wax segment is expected to be driven by its wide usage for the protection of the exterior surface of the vehicle from stains & smudges. They are specially formulated to fill minor scratches and add shine to the vehicle.
• Interior care products are expected to expand at a CAGR of 3.3% over the forecast period on account of the rising awareness among vehicle owners regarding the maintenance of interiors.
• The development of specialty wax and polishes for luxury cars is expected to augment the demand for car care products over the forecast period.

Based on the Packaging Volume Insights, the market is segmented into Less than 250 ml, 251 - 500 ml, 501 - 999 ml, 1000 - 5000 ml, and More than 5000 ml.

• The 501 - 999 ml packaging volume segment held the largest revenue share of over 35.0% in 2021 owing to its suitability for individuals and commercial use.
• The 251 - 500 ml packaging volume segment accounted for the second-largest revenue share in 2021 and is expected to expand at a lucrative CAGR of 4.4% over the forecast period.

Based on the End-use Insights, the market is segmented into Retail (B2C) and Professional (B2B).

• The retail (B2C) segment accounted for the largest revenue share of over 70.0% in 2021. The growing demand for car care products from individual vehicle owners, coupled with the wide availability of products in commercial markets, is likely to support the segment growth in the projected period.
• The growing trend of Do-It-Yourself (DIY) applications for car maintenance among individual owners is expected to support product sales through the retail market.

Based on the Distribution Channel Insights, the market is segmented into E-commerce, Retail Chains and Care Detailing Stores.

• Retail chains accounted for the largest revenue share of over 50.0% in 2021. The growing prevalence of organized retail chains across the globe is expected to support the distribution of car care products.
• The e-commerce segment emerged as the second-largest segment and is expected to expand at a CAGR of 4.0% over the forecast period. 

Car Care Products Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The players face intense competition from each other as well as from regional players with strong distribution networks and know-how about suppliers and regulations. The manufacturers of car care products also supply to garages and workshops, which, in turn, intensifies the competition.

Some prominent players in the Global Car Care Products market include:

• 3M
• Sonax GmbH
• Tetrosyl Ltd.
• Chemical Guys
• Armor All
• Adolf Wurth Group
• MAFRA S.p.A.
• Cartec B.V.
• Turtle Wax, Inc.
• Liqui Moly GmbH
• Autoglym
• Mothers
• Adam's Polishes
• Griot's Garage
• Jopasu India Pvt. Ltd.

Order a free sample PDF of the Car Care Products Market Intelligence Study, published by Grand View Research.

Construction Equipment Market Business Drivers, Top Companies and Competitive Analysis By 2030

Construction Equipment Industry Overview

The global construction equipment market size is projected to reach USD 161.99 billion by 2030, registering a 3.9% CAGR from 2022 to 2030, according to a new study by Grand View Research Inc. Increasing investments by governments worldwide for developing public infrastructure is one of the prime factors that is expected to drive the market growth over the forecast period. Furthermore, the growing population in emerging economies such as India has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period.

Construction Equipment Market Segmentation

Grand View Research has segmented the global construction equipment market based on product and region:

Based on the Product Insights, the market is segmented into Earth Moving Machinery, Material Handling Machinery, Concrete and Road Construction Machinery.

• The earthmoving machinery segment dominated the market with a revenue share of over 60% in 2021. The excavators sub-segment is projected to expand at a moderate CAGR during the forecast period on account of the booming infrastructure projects worldwide and the adoption of conventional heavy-duty excavators by builders and contractors for building dams and highways.
• The material handling equipment segment is expected to register a 4% CAGR over the forecast period. It is ascribed to an increase in demand for crawler cranes to construct non-residential sectors, notably in industrial, manufacturing, and commercial building sectors.
• The crawler cranes segment is expected to register a 5.8% CAGR over the forecast period owing to its compactness and ease of accessibility in small construction sites, especially in urban areas.
• The concrete and road construction machinery is expected to reach USD 39.10 billion by 2030.

Construction Equipment Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is highly competitive. The focus for almost all key vendors in the market going forward will be to seek ways to provide cost-effective and eco-friendly equipment as an integral part of their product offerings.

Some prominent players in the Global Construction Equipment market include:

• Caterpillar
• CNH Industrial N.V.
• Doosan Corporation
• Escorts Limited
• Hitachi Construction Machinery Co., Ltd.
• Hyundai Construction Equipment Co., Ltd.
• J C Bamford Excavators Ltd.
• Deere & Company.
• Kobelco Construction Machinery Co., Ltd.
• Komatsu Ltd.
• Liebherr-International AG
• Manitou BF
• HÄ°DROMEK
• Sany Heavy Industry Co., Ltd.
• Sumitomo Heavy Industries, Ltd.
• Terex Corporation
• Volvo AB
• Zoomlion Heavy Industry Science and Technology Co., Ltd

Order a free sample PDF of the Construction Equipment Market Intelligence Study, published by Grand View Research.

Meat Substitutes Market Development Opportunities and Value Chain Analysis By 2030

Meat Substitute Industry Overview

The global meat substitute market size is expected to reach USD 234.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 42.1% from 2022 to 2030. Growing preference for a vegan diet coupled with rising health awareness is expected to fuel market demand in the forecast period. Furthermore, growing awareness of environmental and ethical issues has also accelerated market growth. Plant-based meat is a healthier alternative to traditional meat products. Over half of protein users prefer to consume natural sources in their protein, which is boosting the shift in demand for easily identifiable and clean substances.

Meat Substitute Market Segmentation

Grand View Research has segmented the global meat substitute market on the basis of source, distribution channel, and region:

Based on the Distribution channel Insights, the market is segmented into Foodservice and Retail.

• The retail segment led the market for meat substitutes and accounted for the largest revenue share of 67.3% in 2021. The segment includes all retail outlets such as hypermarkets, supermarkets, convenience stores, mini markets, and departmental stores.
• Consumers prefer these stores as they offer huge discounts and offers. Further, the majority of the brands launch their product through big chains of supermarkets such as Walmart, Target, and others to reach maximum customers.
• The foodservice segment is anticipated to register a CAGR of 43.0% from 2022 to 2030. The category includes outlets such as restaurants, hotels, and lounges.

Based on Source Insights, the market is segmented into Plant-based Protein, Mycoprotein, Soy-based and others.

• The plant-based protein segment held the largest revenue share of 34.8% in 2021 and is expected to maintain dominance over the forecast period.
• The products made from plant protein and mycoprotein possess the texture, flavor, and nutritional properties of meat but are made from non-animal sources. Target plant proteins isolated from plants are put through hydrolysis to increase their functionality.
• The mycoprotein segment is projected to register the fastest CAGR of 43.2% from 2022 to 2030. Owing to the higher content of nutrients like fiber that helps in controlling blood cholesterol and blood sugar, consumers prefer mycoprotein food. For vegans and vegetarians, meat alternatives were earlier limited to soya chunks and mushrooms, and cottage cheese.

Meat Substitute Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market for meat substitutes comprises companies with a stronghold in meat substitutes and is still developing, where new entrants are launching products and other key players in the market are planning to launch their products due to the increasing health concern owing to rising animal-borne diseases across the globe. 

Some prominent players in the Global Meat Substitute market include:

• Amy’s Kitchen
• Beyond Meat
• Impossible Foods Inc.
• Quorn Foods
• The Kellogg Company
• Unilever
• Meatless B.V.
• VBites Foods Ltd.
• Sunfed
• Tyson Foods, Inc.

Order a free sample PDF of the Meat Substitute Market Intelligence Study, published by Grand View Research.

Need For Efficient Management Of Resource Utilization Bode Well For Smart Cities Market Growth

Smart Cities Industry Overview

The global smart cities market size is expected to reach USD 6,965.02 billion by 2030, registering a CAGR of 24.2% in the forecast period, according to a new report by Grand View Research, Inc. The market growth can be attributed to rapid favorable government initiatives worldwide and the emergence of technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT). This has encouraged several countries to invest in smart city projects to manage infrastructure and assets. Further, the increasing adoption of Electric Vehicles (EV) has also created a demand for the development of charging infrastructure in cities globally. Due to this, it provides energy storage and creates new revenue streams from EV batteries. These benefits will further boost the growth of the market during the forecast period.

Smart Cities Market Segmentation

Grand View Research has segmented the global smart cities market based on application, smart governance, smart utilities, smart transportation, and region:

Based on the Application Insights, the market is segmented into Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation and Smart Healthcare.

• The smart transportation segment accounted for a market share of over 20% in 2021. The growing number of vehicles on the road, looming lack of traffic data management, and old infrastructure are some of the other factors anticipated to contribute to the segment growth.
• The smart governance segment is anticipated to witness a significant CAGR of 23.7% over the forecast period.

Based on the Smart Governance Insights, the market is segmented into City Surveillance, CCS, E-governance, Smart Lighting, and Smart Infrastructure.

• The city surveillance segment accounted for a market share of over 20% in 2021.
• The Command and Control Center (CCC) segment is expected to witness a significant CAGR of 21.4% over the forecast period. 
• The CCC center is used to access and monitor smart city applications, such as waste management solutions, smart lighting, energy management, city surveillance, Intelligent Traffic Management System (ITMS), and smart parking.

Based on the Smart Transportation Insights, the market is segmented into Intelligent Transportation System, Parking Management, and Smart Ticketing & Travel Assistance.

• The Intelligent Transportation System (ITS) segment accounted for the largest share of over 45% in 2021.
• The increasing number of vehicles on the road and the need to reduce traffic congestion are also key factors in deploying advanced traffic management systems.
• The parking management segment is anticipated to witness a significant CAGR of 24.6% over the forecast period.

Based on Smart Utilities Insights, the market is segmented into Energy Management, Water Management, and Waste Management.

• The energy management segment held the leading revenue share of more than 55% in 2021.
• The growing energy demand has sparked the adoption of virtual power plants, which operate on Artificial Intelligence, machine learning, and IoT to provide security and efficiency.
• The water management segment is expected to witness a significant growth of a CAGR of 23.8% over the forecast period.

Smart Cities Regional Outlook

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

Key Companies Profile & Market Share Insights

Market players are observed to invest resources in R&D activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.

Some prominent players in the Global Smart Cities market include:

• ABB Limited
• AGT International
• AVEVA Group plc.
• Cisco Systems, Inc.
• Ericsson
• General Electric
• Honeywell International Inc.
• International Business Machines Corporation
• Itron Inc.
• KAPSCH Group
• Huawei Technologies Co., Ltd.
• Microsoft Corporation
• Oracle Corporation
• Osram Gmbh
• SAP SE
• Schneider Electric SE
• Siemens AG
• Telensa
• Verizon
• Vodafone Group plc

Order a free sample PDF of the Smart Cities Market Intelligence Study, published by Grand View Research.

What Is The Customer Relationship Management Market Growth?

Customer Relationship Management Industry Overview

The global customer relationship management market size is expected to reach USD 157.6 billion by 2030, according to new research by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.3% from 2022 to 2030. The continuous demand for innovative solutions to analyze customer information, collate critical customer data, and transform it into a better customer experience strategy are driving factors for CRM solutions across all sizes of businesses. This further led to the integration of customer relationship management solutions with advanced technologies such as big data analytics, machine learning, and AI-powered analytics are expected to boost product innovation and development across CRM solutions for a better customer experience and high operational efficiency.

Customer Relationship Management Market Segmentation

Grand View Research has segmented the global customer relationship management market on the basis of solution, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation, Social Media Monitoring and Others.

• The customer service segment dominated the market and accounted for a revenue share of over 20% in 2021.
• The CRM analytics segment is anticipated to witness a significant CAGR over the forecast period.
• Ongoing demand for structured and unstructured data through digital channels is expected to drive the demand for online analytical processing over the forecast period.

Based on the Deployment Insights, the market is segmented into On-premise and Cloud.

• The cloud segment dominated the market and accounted for a revenue share of over 50.0% in 2021.
• Due to the increasing demand for data privacy, the demand for on-premise customer relationship management solutions has increased.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small and Medium Enterprises.

• The large enterprises segment accounted for the highest revenue share of more than 60.0% in 2021.
• The growing adoption of a number of government initiatives through digital campaigns, such as video marketing, social media, and search engine marketing, across the globe are expected to drive the SME segment at a significant CAGR over the forecast period.

Based on the End-use Insights, the market is segmented into BFSI, Retail, Healthcare, Telecom & IT, Discrete Manufacturing, Government & Education and Others.

• The retail segment emerged as the largest shareholder in 2021, accounting for nearly 24.0% of the market, respectively.
• The increasing competition in the retail industry is driving the demand for advanced CRM software and is expected to witness a significant CAGR over the forecast period and also online systems enable enterprises to provide their customers with efficient customer-centric services.
• The IT and telecom segment is anticipated to be the fastest-growing segment over the forecast period. customer relationship management solutions in IT and telecom offer brand equity, distribution channels, post-purchase service, and customer exclusivity and support.

Customer Relationship Management Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Leading market participants are investing in research and development activities to drive organic growth and increase their market shares. Additionally, companies are also engaging in new product development to expand and strengthen their existing portfolios and acquire new customers.

Some prominent players in the Customer Relationship Management market include

• Salesforce
• Microsoft Corporation
• SAP SE
• Oracle Corporation
• ADOBE INC.
• SugarCRM Inc.
• Zoho Corporation Pvt. Ltd
• Copper CRM, Inc.
• Insightly Inc.
• Creatio

Order a free sample PDF of the Customer Relationship Management Market Intelligence Study, published by Grand View Research.

Mechanical Ventilator Market Size, Share, Trends and COVID-19 Impact Analysis By 2030

Mechanical Ventilator Industry Overview

The global mechanical ventilator market size is expected to reach USD 4.22 billion by 2030, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 4.8% from 2022 to 2030. The unprecedented dawn of COVID19, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market for mechanical ventilators.

Mechanical Ventilator Market Segmentation

Grand View Research has segmented the global mechanical ventilator market based on product, ventilation mode, end-use, and region:

Based on the Product Insights, the market is segmented into Critical Care, Neonatal, Transport & Portable and Others.

• Critical care ventilators dominated the market with a share of over 35.0% in 2021 due to the high adoption and installation rate in hospitals.
• A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities.
• Transport and portable mechanical ventilators are expected to witness the fastest growth during the forecast period owing to their efficiency in a variety of applications in different care delivery settings.

Based on the Ventilation Mode Insights, the market is segmented into Invasive and Non-invasive.

• The non-invasive ventilation mode emerged as the largest segment and accounted for over 55.0% share in 2021. The segment is also likely to witness the fastest growth during the forecast period.
• Extensive R&D investments in the healthcare sector and growing per capita income further boost the overall market growth.

Based on the End-use Insights, the market is segmented into Hospitals, Home Healthcare and Others.

• The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators.
• The home healthcare segment is expected to witness the fastest growth during the forecast period. An increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare support the market growth.

Mechanical Ventilator Regional Outlook

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

Key Companies Profile & Market Share Insights

Manufacturers are bracing up to multiply the production capacity to meet the globally rising demand to overcome the COVID-19 disease outbreak. The market is moving towards saturation as various manufacturers have sped up their production capacities to meet the existing demand and there will be ample availability of ventilators post covid-19 situation.

Some prominent players in the Mechanical Ventilator market include

• Getinge AB
• Medtronic
• Vyaire Medical Inc.
• Drägerwerk AG & Co. KGaA
• Koninklijke Philips N.V.
• Hamilton Medical
• GE Healthcare
• Smiths Medical
• ZOLL Medical Corporation
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Order a free sample PDF of the Mechanical Ventilator Market Intelligence Study, published by Grand View Research.

Athleisure Market Upcoming Trends and Growth Drivers Analysis Report By Product, 2030

Athleisure Industry Overview

The global athleisure market size is expected to reach USD 662.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2022 to 2030. Athleisure is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and health-conscious consumers engaging in more athletic activities and requiring performance clothing for these activities.

Athleisure Market Segmentation

Grand View Research has segmented the global athleisure market on the basis of type, product, end user, distribution channel, and region:

Based on the Type Insights, the market is segmented into Mass and Premium.

• Mass athleisure dominated the market with a share of over 60.0% in 2021.
• More individuals are shopping online and purchasing products to pick up in person around the world and both trends are anticipated to continue.
• COVID-19 lockdowns have also resulted in an increase in first-time e-commerce shoppers: 14% of U.S. customers and 17% of Chinese consumers purchased apparel online for the first time as a result of the pandemic.

Based on the Product Insights, the market is segmented into Yoga Apparels (Tops, Pants, Shorts, Unitards, Capris, Others), Shirts, Leggings, Shorts and Others.

• The shirts segment held the largest revenue share of over 30.0% in 2021.
• The yoga apparel segment held the second-largest revenue share in 2021 and is expected to witness the fastest growth over the forecast period.
• Over the forecast period, leggings are projected to register a CAGR of 8.6% over the forecast period.

Based on the Distribution Channel Insights, the market is segmented into Online and Offline.

• The offline segment dominated the market and held a revenue share of over 60.0% in 2021.
• The online segment is projected to expand at the highest CAGR from 2022 to 2030.

Based on the End-user Insights, the market is segmented into Men, Women and Children.

• The women segment held the largest revenue share of over 40.0% in 2021.
• An increasing number of women taking membership in sports activities and growing participation in fitness clubs are contributing to the growth of the market.

Athleisure Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is competitive in nature owing to the presence of a high concentration of international players in the market.

Some prominent players in the Athleisure market include

• Hanes Brands, Inc.
• Adidas AG
• Vuori
• PANGAIA
• Under Armour, Inc.
• Outerknown
• EILEEN FISHER
• Patagonia, Inc.
• Wear Pact, LLC
• Lululemon Athletica

Order a free sample PDF of the Athleisure Market Intelligence Study, published by Grand View Research.

5G Services Market Revenue Is Projected To Surpass USD 1.67 Trillion By 2030

5G Services Industry Overview

The global 5G services market size is estimated to reach USD 1.67 trillion by 2030, registering a CAGR of 52.0% from 2022 to 2030, according to a new study by Grand View Research, Inc. The rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel market growth from 2022 to 2030. The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity.

5G Services Market Segmentation

Grand View Research has segmented the global 5G services market on the basis of communication type, vertical, and region:

Based on the Communication Type Insights, the market is segmented into FWA, eMBB, uRLLC and mMTC.

• The enhanced Mobile Broadband (eMBB) segment dominated the market with a share of more than 42% in 2021 and is expected to grow considerably over the forecast period.
• The high share is attributed to the preliminary focus by 5G network operators on delivering enhanced broadband capabilities for applications, such as high-speed cloud-based gaming, Augmented Reality / Virtual Reality, UHD video, and uninterrupted video calls.
• The massive Machine-Type Communications (mMTC) segment is expected to witness the fastest CAGR from 2022 to 2030.

Based on the Vertical Insights, the market is segmented into Manufacturing, Public Safety, Healthcare & Social Work, Media & Entertainment, Energy & Utility, IT & Telecom, Transportation & Logistics, Aerospace & Defense, BFSI, Government, Retail, Mining, Oil & Gas, Agriculture, Construction and Real Estate.

• The IT & telecom segment led the market in 2021 and held the largest revenue share of over 20%. The segment is expected to continue its dominance over the forecast period due to the significant investments by key players in the latest technologies for communication.
• The manufacturing segment is expected to exhibit the fastest CAGR over the forecast period.
• Moreover, key verticals, such as healthcare, are expected to see a considerable adoption of the services to provide enhanced telemedicine and healthcare emergency services during and post-pandemic.

5G Services Regional Outlook

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

Key Companies Profile & Market Share Insights

The global market is highly fragmented as several regional telecom service providers are investing in deploying the next-generation infrastructure. This will help companies gain a huge customer base in the market. In addition, these market players are strategically focusing on mergers and acquisitions to strengthen their foothold in the global market.

Some prominent players in the 5G Services market include

• AT&T, Inc.
• BT Group plc
• China Mobile Ltd.
• China Telecom Corp. Ltd.
• Bharti Airtel Ltd.
• NTT Docomo
• KT Corp.
• Saudi Telecom Company
• Vodafone Group
• Deutsche Telekom AG
• SK Telecom Co., Ltd.
• Verizon Communications, Inc.
• T-Mobile USA Inc.
• Rakuten Mobile Inc.

Order a free sample PDF of the 5G Services Market Intelligence Study, published by Grand View Research.

Growing Demand For Food Across Globe Positively Impact Vertical Farming Market By 2030

Vertical Farming Industry Overview

The global vertical farming market size is expected to reach USD 33.02 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 25.5% from 2022 to 2030. Increased use of Internet of Things (IoT) sensors for producing crops is likely to spur market demand over the forecast period. Information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data and predictive analytics for maximizing yields are also likely to drive the market.

Vertical Farming Market Segmentation

Grand View Research has segmented the global vertical farming market based on structure, offering, growing mechanism, fruits, vegetables, & herbs, and region:

Based on the Fruits, Vegetables, & Herbs Insights, the market is segmented into Tomato, Lettuce, Bell & Chili Peppers, Strawberry, Cucumber, Leafy Greens, Herbs and Others.

• The tomato segment led the market and accounted for more than 20.0% share of the global revenue in 2021.
• One of the important factors behind growing any crop in vertical farming is to validate the economic viability of that crop, which ensures that the company is making a large amount of money from its cultivation.

Based on the Offering Insights, the market is segmented into Lighting, Hydroponic Components, Climate Control and Sensors.

• The lighting segment led the market and accounted for more than 40.0% in 2021. The large share of the lighting segment can be attributed to the dependence of vertical farms on artificial lighting.
• The climate control segment is expected to register the highest CAGR of 27.0% over the forecast period. Increasing adoption of hydroponic components by farmers to minimize the weight load and infrastructure needed to support the equipment is anticipated to drive the demand for hydroponic components.
• Climate control is a kind of agriculture where plants are grown inside a greenhouse under a controlled environment that allows a grower to maintain and monitor the proper supply of light, carbon dioxide, water, humidity, pH levels, and nutrients for crop growth.

Based on the Structure Insights, the market is segmented into Shipping Container and Building-based.

• The shipping container segment dominated the market with a share of over 50.0% in 2021 and is expected to remain dominant over the forecast period.
• The building-based segment is widely accepted in Japan, China, and other Asian countries and it is the fastest-growing segment in terms of revenue owing to its growing acceptance in the region.

Based on the Growing Mechanism Insights, the market is segmented into Hydroponics, Aeroponics and Aquaponics.

• The hydroponics segment held the largest revenue share of more than 50.0% in 2021 and is expected to remain dominant over the forecast period. Hydroponics is a popular growth mechanism due to low installation costs and ease of operations.
• The aeroponics segment is anticipated to witness considerable growth over the forecast period. This system is similar to hydroponics as neither method uses soil to grow plants.
• The aquaponics segment is anticipated to gain a significant market share over the forecast period.

Vertical Farming Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Key market players are involved in strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share. The players are investing in R&D for product innovation and enhancement. They are also utilizing the improved database of the customers, products, and processes to achieve the requisite transformation necessary for sustaining in this highly competitive market.

Some prominent players in the Global Vertical Farming market include:

• AeroFarms (U.S.)
• Illumitex, Inc. (U.S.)
• American Hydroponics (U.S.)
• Agrilution GmbH
• Brightfarms Inc.
• Everlight Electronics Co., Ltd.
• Freight Farms
• GrowUp Urban Farms Ltd.
• Green Sense Farms, LLC
• Vertical Farm Systems

Order a free sample PDF of the Vertical Farming Market Intelligence Study, published by Grand View Research.

Digital Transformation Market Organization Segment Trends, PEST Analysis and Forecast

Digital Transformation Industry Overview

The global digital transformation market size is expected to reach USD 3,810.05 billion by 2030, registering a CAGR of 23.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The development is ascribed to the increasing need for the establishment of innovative solutions that are equipped to engage customers as well as employees to seamlessly integrate data, operations, IT, and business. Besides, the high acceptance and demand of the Internet of Things (IoT) and other evolving technologies are boosting the growth of the market.

Digital Transformation Market Segmentation

Grand View Research has segmented the global digital transformation market based on solution, service, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Analytics, Cloud Computing, Mobility, Social Media and Others.

• The analytics segment accounted for the largest market share of over 30% in 2021, attributable to the high demand to integrate enormous volumes of business information to generate powerful insights.
• The cloud computing segment is expected to show considerable growth over the forecast period. The cloud segment includes public, private, and hybrid cloud platforms which offer easy deployment and scalability on demand.

Based on the Service Insights, the market is segmented into Professional Services and Implementation & Integration.

• The professional service segment accounted for a revenue share of over 70% in 2021.
• On the other hand, the implementation and integration service segment is also expected to grow at a considerable rate as organizations are anticipated to reach out to implementation service companies for seamlessly deploying digital solutions.

Based on the Deployment Insights, the market is segmented into Hosted and On-Premise.

• The on-premises segment accounted for a revenue share of over 50% in 2021. Many organizations have selected on-premise deployment as it offers plausible choices for the extreme customization of the product.
• The hosted segment is expected to expand at the highest CAGR of 26.6% owing to the increasing use of mobile devices and advancements in information sharing technologies.

Based on the End-use Industry Insights, the market is segmented into BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail and Others.

• The BFSI segment accounted for the largest market share of over 25% in 2021, this growth can be attributed to the shifting attention of banks and other financial institutions toward offering enhanced experience since products and services within the industry are becoming commoditized. 
• Based on the adoption rate of new emerging technologies, retail is one of the emerging verticals that is implementing various technologies, such as cloud computing, big data analytics, DevOps, social networks, digital stores, and others.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprise and Small & Medium Enterprise.

• The large enterprise segment holds the largest market share of over 55% in 2021. These enterprises are embracing the digital transformation journey as digital transformation offers cost-effectiveness and smooth execution of the business process.
• The Small and Medium Enterprise (SME) segment is expected to register the highest CAGR of 24.6% over the forecast period.

Digital Transformation Regional Outlook

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

Key Companies Profile & Market Share Insights

Heavy investments in research and development activities can be witnessed across the industry to ensure the growth of the company as well as to increase its market share. Plus, the players are actively focusing on new product development to enhance and extend their current products and services, consequently offering organizations a potential chance to secure new clients and approve the new technological changes.

Some prominent players in the Global Digital Transformation market include:

• Accenture plc
• Apple Inc.
• Adobe Systems Incorporated
• CA Technologies
• Dell EMC
• Hewlett Packard Enterprise Co.
• International Business Machines Corporation
• Microsoft Corporation
• Kellton Tech Solutions Ltd.
• Google Inc.

Order a free sample PDF of the Digital Transformation Market Intelligence Study, published by Grand View Research.

Machine Vision Market Driver, Restraint, Challenges and Opportunities Study

Machine Vision Industry Overview

The global machine vision market size is expected to reach USD 25.92 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.7% from 2022 to 2030. The ability of machine vision systems to process a large amount of information in a fraction of seconds is a major factor driving the market. The quick processing ability of machine vision systems is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. Moreover, the increasing adoption of robots across the industrial sectors is leading to the application of vision-guided robotic systems. Industrial verticals such as automotive, pharmaceutical, packaging, and food and beverage are prominent sectors where robotic systems are used, eventually fueling the demand for machine vision systems.

Machine Vision Market Segmentation

Grand View Research has segmented the global machine vision market based on offering, product, application, end-use industry, and region:

Based on the Offering Insights, the market is segmented into Hardware, Software and Services.

• In 2021, the hardware segment accounted for the largest revenue share of more than 60.0% and is anticipated to dominate the market over the forecast period.
• Based on the hardware components used in the machine vision systems, the hardware segment has been further segregated into camera, frame grabber, optics, LED lighting, and processor sub-segments.
• Cameras held the largest revenue share in 2021, which is attributed to the increasing demand for CMOS imaging sensors. 
• The software segment is expected to witness steady growth over the forecast period on account of the training and deep learning of the technology, which is fairly contributing to the overall market growth.

Based on the End-use Industry Insights, the market is segmented into Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labelling, Food & Beverage (Packaging and Bottling), Glass & Metal, Postal & Logistics and Others.

• In 2021, the automotive end-use industry held the largest revenue share of over 15.0%.
• The automotive industry is the largest adopter of machine vision systems worldwide and it will continue growing at a steady rate over the forecast period.
• The food and beverage industry is projected to register the highest growth rate over the forecast period. MV systems in the food and beverage industry are prominently used in packaging and bottling operations.
• Followed by the food and beverage end-use industry segment, the machine vision systems are likely to witness significant growth in the pharmaceuticals and chemicals, printing and labeling, and other industry verticals, which include agriculture, rubber and plastic processing, solar paneling, machinery and equipment, and security and surveillance.

Based on the Application Insights, the market is segmented into Quality Assurance and Inspection, Positioning and Guidance, Measurement and Identification.

• The quality assurance and inspection segment held the largest revenue share of over 50.0%. 
• The systems are extensively used for scanning and identifying labels, barcodes, and texts, especially in the packaging sector.
• The technology is frequently used in the consumer goods, pharmaceutical, and packaging sectors. The adoption of technology in these sectors has resulted in reduced counterfeit products to a large extent, eventually serving the overall market to gain traction for increased adoption.

Based on the Product Insights, the market is segmented into PC Based and Smart Camera Based.

• Smart camera-based systems are projected to exhibit the fastest rate of 8.0% from 2022 to 2030. This considerable growth of the segment is attributed to the growing adoption of cameras in 3D imaging.
• The PC based segment held the largest revenue share of over 55.0%. The segment is anticipated to continue growing and lead the market in terms of revenue over the estimated duration.
• Cameras are also capable of reading labels and directing products automatically without any human involvement. Minimized human intervention has led to decreased errors and increased accuracy in inspecting labels and tags.

Machine Vision Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

With greater opportunities being offered by both developing and developed nations such as the U.S., Germany, the U.K., China, Japan, Australia, and Brazil, the prominent players are continuously striving for new product developments and venture capital investments to acquire market presence.

Some prominent players in the Global Machine Vision market include:

• Allied Vision Technologies GmbH
• Basler AG
• Cognex Corporation
• Keyence Corporation
• LMI Technologies, Inc.
• Microscan Systems, Inc.
• National Instruments Corporation
• OMRON Corporation
• Sick AG
• Tordivel AS

Order a free sample PDF of the Machine Vision Market Intelligence Study, published by Grand View Research.