Virtual Reality Market COVID-19 Impact Insights and Value Chain Analysis Report

The global virtual reality market is anticipated to value USD 62.1 billion until 2027. It is also expected to register a CAGR of 21.6% over the forecasted years, 2020 to 2027. Shifting trend towards the adoption of VR technology for enhancing user experience is expected to trigger the market growth for virtual reality.

The semi & fully immersive technology segment held the largest share of around 79.4% across the global market in 2019 on account of the increasing popularity of HMD-based VR devices. The non-immersive segment is projected to register moderate growth from 2020 to 2027 due to its feature of offering an enhanced computer-generated environment despite its immersion in the virtual world.

In 2019, the hardware segment held the highest share of 68.8% across the global market due to the increasing usage of electronic devices and smartphones among the millennial population. On the other hand, the software segment is estimated to witness the fastest growth over the forecasted years, 2020 to 2027 on account of the surging need for analyses of incoming data and input-output device management.

Market Share Insights

The key players operating across the global market are Barco; Alphabet, Inc.; HTC Corporation; Microsoft; Sensics, Inc.; Facebook Technologies, LLC; Ultraleap Limited; and CyberGlove Systems Inc. They are continuously focusing on product development and innovation to widen their geographical reach and customer base.

Several strategies like acquisitions, mergers, collaborations, and partnerships are being undertaken by the key players to gain a competitive advantage. For example, Apple Inc. is planning to acquire a U.S.-based company named NextVR Inc. in 2020. This is anticipated to boost the VR initiative undertaken by Apple for enhancing its presence across the gaming and entertainment industry.

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In 2019, Asia Pacific held the largest share of around 41.4% across the global market. This can be associated with the rapid technological advancements being undertaken by key organizations for promoting VR technology across developing countries like India, Japan, and China. For example, the introduction of 5G services across Japan in 2019 is driving the telecom companies to offer several VR/AR platforms for enhancing the usage of 5G services. Moreover, favorable policies and initiatives being undertaken by governing authorities for the promotion of travel and tourism activities are anticipated to propel the demand for virtual reality across this region.

Europe is projected to witness the highest growth with a 23.3% CAGR from 2020 to 2027. This can be associated with the rising adoption of VR technology in many organizations located across Germany, France, the U.K., and Italy. Further, the rising popularity of VR headsets in the gaming community residing across this region is expected to trigger up market growth.

COVID-19 Impact Insights

The virtual reality (VR) market has been impacted positively on account of the ongoing COVID-19 pandemic. The imposition of work from home policies by several organizations has triggered the need for virtual team meetings and conferences. Also, the emerging concept of online education and training is estimated to upsurge the market growth for VR technology. Further, rapid technological advancements being undertaken by key players for enhancing user experience are expected to contribute significantly towards the market growth over the post-pandemic period.

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Off-Highway Vehicle Lighting Market COVID-19 Impact Insights and Recent Development Report

The global off-highway vehicle lighting market is estimated to attain USD 1.31 billion, by the end of 2025, and is anticipated to grow at a CAGR of 7.0% from 2018 to 2025, according to a new report by Million Insights. The increasing requirements for mining and construction equipment along strict government regulations are boosting the market growth. The growing awareness about safety of the workers is also expected to increase the demand for the off-highway vehicle lighting in the next few years.

Further, the government authorities across the world are focusing on making strict policies on the use of efficient vehicle lighting in residential and commercial applications. Some of the countries have banned the use of HID lamps. For example, national highway traffic safety administration has stopped the use of tail lights with amber lamps. The government of Canada has also defined the regulations regarding the lamps or lights to be used in trucks, buses, and other vehicles. LED lighting solutions are highly energy-efficient and helps in reducing the greenhouse gases emissions. This is projected to increase the demand for LED, halogen lights.

All these key initiatives have surged the demand for LED lights. LED lights are highly efficient and have a large lifespan of over five years, are widely used for off-highway lighting vehicle applications. Asia Pacific is projected to dominate the market in the coming few years. The growing mining and construction sites in the countries like China and India are supporting the market growth. These key factors are expected to increase the demand for dump trucks, loaders, excavators in the construction application.

Market Share Insights

Leading players in the market include Truck-Lite Co.; Grote Industries; Oracle Lighting; APS Lighting and Safety Products; ECCO Safety Group Co.; HELLA GmbH; and WESEM.

Manufacturers engage in new product launches, innovations to expand their product offerings. For example, Grote Industries has introduced LED strips suitable for heavy equipment in 2017.

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In 2017, Asia Pacific accounted for USD 276.2 million in terms of global revenue in the overall market. It is projected to grow at a CAGR of over 5.1% from 2018 to 2025. The growing adoption of advanced machinery and skilled labor especially in countries such as Japan, Taiwan, and China is supporting the market growth. Additionally, the reduced production cost is also spurring the demand for vehicle lighting products.

The Middle East and Africa region are estimated to grow at the highest CAGR over the forecasted period,2018 to 2025. The increasing mining and construction activities are primarily contributing to market growth. Latin America region is also projected to propel at a significant rate in the coming few years. All these key factors are anticipated to surge the heavy machinery equipment demand.

Impact of COVID-19

COVID-19 outbreak has adversely affected the supply chain of the off-highway vehicle lighting market. Manufacturers are facing challenges in export & import activities in raw materials shipments of electronic& electrical equipment. However, some of the companies have resumed their manufacturing operation but are working with minimum capacity.

Several automotive companies outsource over 30.0% of auto parts from China. However, lockdown restriction and logistic concerns are imposing challenges to OEMs operating in vehicle lighting manufacturing. Increasing penetration of LED lights owing to their high energy efficiency and cost-effectiveness is expected to boost the market growth in the next few years. Thus, traditional fluorescent and HID lights are now rapidly replaced by LED projectors, reflectors.

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Welded Plate And Block Heat Exchanger Market Product Outlook, End-user and COVID-19 Impact Insights

The global welded plate and block heat exchanger market size is likely to touch USD 1.2 billion by the end of 2025. The market is predicted to witness 5.9% CAGR from 2019 to 2025, as reported by Million Insights in its new report. Increasing demand for welded plate heat exchangers in power generation, petrochemicals, HVAC and refrigeration, and food & beverages industry, particularly in emerging regions is driving the product demand.

In industrial machinery, welded plate heat exchangers are used in enhancing the efficiency of heat transfer. Further, increasing demand for thermal management facility that occupies low space is gaining traction, thereby attributing to the growth of the market.

By end-use segment, HVAC and refrigeration category is predicted to occupy the largest share in the market from 2019 to 2025. It is estimated that the segment would account for USD 276.1 million by the end of 2025. The rise in consumer spending coupled with growing use in thermal management systems in both commercial and residential application is driving the segment growth.

The demand for heat recovery in various industries such as food and beverage, HVAC and chemical is gaining traction. In 2018, the food and beverages segment emerged as the second-largest segment and it is predicted to register 6.9% CAGR over the next six years. Concern regarding growing the shelf-life of different food products and beverages is driving the segment growth.

Market Share Insights

The market is characterized by the presence of both local and international players involved in procuring raw materials, designing, manufacturing, testing, and distributing welded plate heat exchangers. Merger and acquisition are among several other strategic initiatives adopted by market players. Strategic initiatives help market players in developing technically advanced products. Major players operating in the market are SPX Flow, Nexson Group, Danfoss, Tranter Inc., Tranter Inc., Barriquand Group, and WCR, Inc. among others.

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In 2018, Asia Pacific was the largest shareholder with over 38% of the share in the market. Further, the APACis projected to register a 7.8% CAGR over the forecast duration. Increasing construction activities in both commercial and industrial domains are driving the growth of the HVAC market, which, in turn, augmenting the product demand. In addition, favorable initiatives by the government in Japan and India to develop solar and thermal energy are driving the market growth.

On the other hand, North America is predicted to account for USD 191.9 million by the end of 2025. Further, the region is expected to register a 4.8% CAGR from 2019 to 2025. Rising demand from the oil and gas industry across Canada and the United States is propelling regional growth. In addition, the region is witnessing high demand for energy from both commercial and industrial sectors, thereby, positively driving the market demand.

CSA is predicted to witness robust growth with an 8.3% CAGR from 2019 to 2025. Countries such as Venezuela, Brazil, and Mexico are witnessing high demand from their oil and gas industries. Moreover, these countries are also seeing increased demand from the food and beverages industries. 

Impact of COVID-19

The outbreak of COVID-19 has adversely affected the global market growth. The pandemic outbreak has led to the closure of heat exchangers manufacturing units as the government of various countries imposed lockdown. In addition, the weak supply chain disrupted manufacturing activities. Various end-user industries such as food & beverages, pulp & paper, HVAC & Refrigeration, petrochemicals, and others also witnessed sluggish demand for welded plate heat exchangers in the second quarter of 2019, thereby, slowing down the growth of the market.

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Heating Radiator Market Scope, COVID-19 Impact Insights and Supply Chain Analysis

The global heating radiator market is estimated to reach USD 9.1 billion, by 2025, and is projected to grow at a CAGR of 8.8% from 2019 to 2025, according to a new report by Million Insights. The increasing demand for energy-efficient heating equipment especially in industrial and residential applications is projected to spur the market growth in the next few years.

Heating radiators are anticipated to foresee significant growth in the European market owing to rising demand for advanced and technologically updated equipment which is expected to contribute to market growth. Electric based radiators are expected to constitute to largest market share during the forecast period. High energy saving radiators are gaining traction among consumers, which is expected to proliferate the demand for these heating solutions.

Moreover, manufacturers focus on R & D activities to meet the changing customer demand. The companies are engaging in developing heating solutions using new technologies. In addition, rapid urbanization, climatic changes, and growing consumer income levels are projected to positively impact on the market growth.

Market Share Insights

Leading players in the market include Vasco Group; KORADO, a.s.; Runtal North America, Inc.; U.S. Boiler Company, Inc.; PURMO; Stelrad Limited; Nuociss; Zehnder Group UK Ltd.; H2O Heating Pty Ltd.; IRSAP; Polytron Technologies Inc.; Florence (Beijing); and Hunt Heating.

Companies in the market invest heavily in R & D activities, new product development to increase their sales across the globe. Some of the players focus on strategic acquisitions to gain an edge over other players.

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In 2018, Asia Pacific led the market with the highest market share of around 29.4% in the overall market. It is projected to grow at a CAGR of 10.9% during the forecasted period. Rising construction activities across emerging countries such as India and China are expected to positively impact the market growth.

Europe is estimated to expand at a CAGR of over 8.4% from 2019 to 2025. Moreover, changing weather conditions, and increasing demand for the energy-efficient product is anticipated to drive the market growth. Product development owing to technological advancement for better performance in heating applications is projected to foster market growth in the region.

Impact of COVID-19

Coronavirus outbreak has caused the shutdown of manufacturing units across the globe. In the Asia Pacific, China and India have been impacted heavily owing to supply chain disruption in the manufacturing of heating equipment such as radiators and exchangers. Lockdown and closedown of international borders have caused delays in the trade/shipment of heating radiators across the countries.

Manufacturing companies across Europe, and China are still working at 50% of total capacity. However, the long-term impact of the coronavirus pandemic is projected to be negated by the normalized business operation.

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Industrial Valves and Actuators Market Porter's Five Forces Analysis and COVID-19 Impact Insights

The global industrial valves and actuators market size is projected to touch USD 145.87 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 4.14% over the estimated duration. Factors such as increasing demand from the industrial segment, technological innovation and strict government norms are expected to fuel the market growth over the forecast duration. The various benefits offered by industrial valves and actuators for managing pressure and temperature on the upstream and downstream activities are boosting product demand over the forecast years. Further, the rising oil & gas extraction activates are expected to supplement the product demand in the upcoming years.

Market Share Insights:

Leading players of the industry are Honeywell International, Inc.; Eaton; Alfa Laval AB; Emerson Electric Co.; IMI plc; Valvitalia SpA; AVK Holding A/S; Eaton; Curtiss-Wright Corporation; Velan, Inc.; and IMI plc. The players are emphasizing huge investments in research & development to come up with innovative solutions and maintain their dominance.

The global market is highly competitive due to the operation of many small-scale and medium-scale producers. Market players are continuously engaged in various initiatives such as joint ventures, M&A, business partnerships, and product launches. These initiatives are aimed at increasing the market share and providing an improved product offering to the consumers.

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Rising global water crisis, and industrial wastewater release in freshwater bodies, resulted in polluting the freshwater sources. Increasing demand for an excellent treatment of wastewater to prevent these issues has led to creation of new prospects in the water & wastewater industries. Further, 3D printing is capable of transforming actuators and industrial valves product. A series of conventional products and designs such as servo valves, check valves and gate valves can be produced by the use of 3D printing. This technology is assisting valve producers to change the method from “Just-in-time (JIT) delivery” to “JIT production”.

Asia Pacific is projected to lead the industrial valves & actuators market in the coming years to mounting subsea explorations along with increasing spending in various industries including energy & power, chemical, oil & gas, and water & wastewater. Furthermore, increasing manufacturing of shale and sands gas in North America and rising exploration activities in countries of Asia and Africa are predicted to bode well for the market growth. On the other hand, the Middle East and Africa are projected to exhibit a CAGR of 4.4% over the estimated years. Replacement of inefficient and old industrial valves with new and efficient ones for natural gas transportation in the midstream infrastructure is also expected to augment the product demand in the upcoming years.

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Dog Clothing & Accessories Market Retail Channel Analysis & COVID-19 Impact Insights, 2028

The global dog clothing and accessories market size is expected to reach USD 16.61 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.9% from 2021 to 2028. Increasing disposable income and rapidly growing urbanization have promoted the demand for innovative and fashionable accessories for pet owners from pet owners. In addition, vendors in this industry focus on multi-functional and fashionable product development to meet pet owners' requirements. Spending on a pet has increased as a mark of sensitivity and social status. Thus, all these factors are expected to drive the market.

Market Share Insights: 

• KONG Company
• DoggyMan H.A. Co., Ltd.
• Masterpet Corporation Ltd.
• Central Garden & Pet Company
• Hangzhou Tianyuan Pet Products Co., Ltd.
• Bampz, LLC
• Mars Petcare
• PetPace
• Pet Factory Company
• Petmate Holdings Co.

The market is characterized by the presence of various well-established players and several small players. However, the industry is dominated by top international players. Industry participants are practicing several inorganic and organic growth strategic initiatives in order to expand their product/service portfolio and enhance their foothold across the market.

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Distribution Channel Insights

The offline channel captured the largest share of more than 65.0% in 2020 and is projected to register a substantial growth rate over the forecast period. Consumers feel more comfortable choosing their own products. Other factors that determine this sales channel are price reductions, shopping experience, immediate food purchase, and the availability of a wide range of products in a single store. In addition, improved services such as click and collect have fueled food sales through this channel.

The online distribution channel segment is projected to expand at the highest CAGR of 7.9% during the forecast period. The current COVID-19 pandemic is one of the significant factors driving the retail of products through the online distribution channel. The easy shopping experience, coupled with the easy payment options, is expected to drive the sale of the product through the online retail channel. Furthermore, the online distribution channel is gaining remarkable popularity among the millennials and generation Z consumers owing to the growing preference for digital shopping over brick-and-mortar stores.

Regional Insights

North America accounted for the largest share of over 30.0% in 2020, with the U.S. being the dominant shareholder across the region. The growing awareness about grooming a dog as per age, breed, weight, and physical activity is driving the dog clothing and accessories market in the region. Moreover, high disposable income and increased spending on domestic animals, such as dogs, are driving the market in North America.

The market in the Asia Pacific is projected to register the fastest CAGR of 7.9% over the forecast period, with China being the major revenue contributor to the regional market growth. Increasing disposable income, along with intense advertisement campaigns by the leading dog clothing and accessories manufacturers, has led to the growth of the market in the region. The Asia Pacific is home to over 4 billion people, making it one of the largest markets across the world. Furthermore, post the COVID-19 pandemic, the region is anticipated to witness a rise in employment, inflating disposable incomes, and enhancing standards of living. These factors will result in creating a large opportunity for the manufacturers of dog clothing and accessories. Hence, the regional market is expected to witness rapid growth in the coming years.

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Fogless Mirror Market Analysis Report By Product, Application and Segment, 2028

The global fogless mirror market size is expected to reach USD 576.6 million by 2028, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. Over the past few years, there has been a significant increase in bathroom renovation expenditure globally, especially in the Asia Pacific region, due to the continuous inflow of evolved designs in bathroom Vanities. These expenditures are projected to outpace other housing development expenditures in the coming years. The trend is expected to emerge as a key driving factor for the market growth.

Market Share Insights 

• LAUFEN BATHROOMS AG,
• Roper Rhodes, Ltd.,
• Zadro Products, Inc.,
• New Home Bath & Mirror Inc.,
• Electric Mirror, Inc.,
• ToiletTree Products, Inc.,
• HiB Ltd.
• WeProFab
• The Shave Well Company
• YD Valve Co. Ltd, 

The market is characterized by various well-established players and several small and medium players. These players continuously invest in inorganic and organic growth strategic initiatives to expand their product/service portfolio and to enhance their foothold in the market. Increasing competition at the regional and global levels is leading the market towards consolidation. Also, the global players are establishing manufacturing and distribution networks in developing countries to gain a market presence.

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Product Insights

The stationary fogless mirror segment contributed the highest revenue share of more than 55% in 2020. Fogging is condensing water droplets on the mirror's surface which generally occurs while installed in enclosed spaces. Fogless mirrors help prevent water droplets from concentrating on the surface of the mirror. To avoid the condensation of droplets, fogless mirrors are coated with anti-fogging chemicals on their silver surface.

Vendors in fogless mirror segments continuously adopt various organic growth launching new products with wider features in this category to provide a better experience to their customers. Improved scalability, high efficiency, and reliable performance are among the key factors sustaining the segment competitiveness across the global market.

Regional Insights

North America accounted for a significant market share of 29% in 2020, with the U.S. occupying the position of the dominant revenue contributor in the region. The continuous development, expansion, and renovation of commercial spaces such as hostels, gyms, and households have driven the demand for fogless mirrors in the region. Apart from this, increasing innovation in the raw material used and rising focus on the benefits associated with anti-fog mirrors among the consumers are expected to support the market growth in the forthcoming years.

The Asia Pacific market contributed to the highest share of more than 30% in terms of revenue in 2020 and is projected to register a substantial CAGR over the forecast period, with China being the major revenue contributor to the regional market growth. The increasing population and growing urbanization in countries such as China, India, and other countries are likely to be the key catalysts for the demand for fogless mirrors in the region. Moreover, the expansion of the economy in Asian countries contributed to increasing disposable income, which became a key driver for market growth. Moreover, the robust development of home décor units and bath utilities in the countries such as China, India, and Japan provided the vendors of the market with a key distribution channel to penetrate the rural and urban regions.

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Restaurant Point Of Sale Terminals Market Product, Application and COVID-19 Impact Insights, 2027

The global restaurant POS terminal market size is projected to reach USD 25.1 billion by 2027 and expected to grow with a CAGR of 6.8% over the forecast period, from 2020 to 2027, according to Million Insights. Rising demand for outside food, especially on weekends by people has incurred the need for optimizing operations right from inventory management to customer feedback. Therefore, adaptation POS has enhanced the management of customer relationship, staff scheduling, and table orders. Moreover, over the recent past, adoption of mobile POS terminals has increased due to ease of usage and low installation cost.

The POS terminal helps to keep records of inventory, payroll, sales figures, and billing. In addition, it helps restaurant owners in sales tax reporting by storing monthly as well as yearly data thereby, eliminating the need to prepare the sales report daily.

In addition, customer relationship management software is installed in the POS terminal which helps to fetch customer information, sale report and gives regular updates. The CRM-based POS enables tracking of customer purchase patterns which helps owners to customize their menu accordingly. Therefore several benefits associated with the restaurant's POS terminal are projected to drive the market growth over the forecast period.

Market Share Insights

The market is highly competitive in nature due to the presence of a large number of players including Posera; ShopKeep; Squirrel Systems; PAX Technology Limited; Verifone Systems Inc.; Aireus Inc.; Harbortouch Payments, LLC; Dinerware, Inc.; POSist, EposNow; Upserve, Inc., Revel Systems; TouchBistro; LimeTray; Ingenico Group; Oracle Corporation; POSsible POS; NCR Corporation; and Toshiba Corporation. Strategies such as product development, partnership, and acquisition are implemented by major market players. For example, in 2019, Qu POS, Inc. developed a POS platform to support restaurants from one central hub in managing omnichannel orders. Moreover, in 2017, NCR Corporation partnered with MONKEY which is a cloud-based software provider. This initiative will help NCR Corporation to manage its orders with the cloud-based platform.

The industry players are also striving to offer new features in the product at a low cost. The Touch Bistro offers POS solutions with tablets with attractive features such as inventory management, cash management, and order tracking for quick-service restaurants. Continuous innovation in products and the growing focus of industry players to provide customized solutions are expected to fuel the demand for POS solutions. For example, Revel Systems formed a partnership with Intuit Inc. in order to develop an online restaurant POS terminal with the name QuickBooks that allows restaurants to track their payment, inventory, CRM information, payroll, and sales.

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Regional Insights

In 2019, Asia Pacific dominated the global market and accounted for revenue of over USD 4 billion. It is estimated that the Asia Pacific will retain its position over the forecast period owing to the rapidly growing and expanding foodservice sector in emerging countries such as China and India. In these countries, several restaurants are using POS terminal solutions such as tablets and kiosks to place orders, display menus, enhance customer experience, and increasing operating efficiency.

In 2019, North America was the second-largest market shareholder. This is due to the presence of a large number of POS software developers and rapidly growing restaurant services. In addition, the growing demand for POS software in restaurants to overcome daily challenges associated with management and operation is anticipated to further drive the regional market growth. Moreover, the presence of quick-service restaurants in the U.S. is expected to positively impact regional market growth.

Impact of COVID-19

The outbreak of coronavirus has caused massive disruption in the restaurant industry. Many restaurant owners realized that their old business model will not work in post-COVID-19. Due to the adverse impact of coronavirus, consumer behavior is totally changed which has enforced the restaurants to adopt the new technology including POS terminal to manage front-end and back-end operations efficiently. POS terminal in the restaurant is a central hub to manage menu, inventory, payment process, and other operations. With the coronavirus, the major concern is human contact. Hence contactless payment does not require any physical contact between the customer card and the payment terminal. This type of payment is possible through mobile wallets, credit, or debit cards. Restaurants are increasingly using wireless POS terminals integrated with contactless payment technology. Therefore, increasing concern regarding safety and security will drive the demand for POS terminals after reopening the restaurants.

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Military & Commercial Parachutes Market Product Type Estimates and COVID-19 Impact Insights, 2025

The global military & commercial parachutes market size is projected to value USD 930.4 million until 2025. It is expected to register a CAGR of 6.1% over the forecasted years, 2019 to 2025. The rapid technological advances being carried out for enhancing international securities and shifting inclination towards aerial sports is anticipated to drive the market growth.

The usage of military parachutes to drop payloads such as equipment, relief aids, and soldiers is projected to gain traction over the forecasted period. Also, other rescue operations make use of parachutes on account of their features like swift and efficient landing.

The majority of the key players end up signing long-termed contracts with military and defense departments. Also, technological advances for developing the enhanced quality of harnessing tools and fabrics are projected to positively impact the market growth for parachutes. However, strict rules imposed for the manufacturing of these parachutes are anticipated to hinder market growth.

Market Share Insights

The market includes players like Airborne Systems; FXC Corporation; BAE Systems; Aerodyne Research, LLC; SPEKON; Zodiac Aerospace, and Parachute Systems. These players are constantly engaged in product development and innovation to gain a competitive advantage.

They are also securing contracts from the defense departments across various countries for providing advanced parachute systems. For example, a contract for providing multi-mission parachutes is awarded to Airborne Systems in 2018 by the U.S. Marine Corps. This contract will also help in enhancing the customer base and widening of product portfolio and geographical reach.

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Regional Insights

In 2018, North America held the largest share across the global commercial and military parachute market. This can be associated with the rising presence of many key players like Mills Manufacturing and Airborne Systems across this region. Also, huge investments across the defense sector coupled with the surging adoption of fabric technologies like smart textiles are projected to drive market growth.

The Asia Pacific is anticipated to witness the highest CAGR over the forecasted years, 2019 to 2025. The rising adoption of adventurous activities and aerial sports like parachuting and sky-diving across countries like New Zealand, China, and India are projected to drive the demand for such products. Also, the promotion of skydiving competitions by associations such as the Australia Parachute Federation and Asiana Parachute Federation is further anticipated to fuel up the market growth.

COVID-19 Impact Insights

The market has been impacted on account of the ongoing COVID-19 crisis. This can be associated with the reduction in several aerial sports activities due to the imposition of lockdown and governmental restrictions. Also, curtailments in expenses for tourism and entertainment activities are projected to hamper the growth. Moreover, shifting preference from defense towards healthcare is further anticipated to negatively impact the growth.

However, the market is anticipated to witness substantial growth in the post-pandemic period owing to the need for ensuring international safety and security. Also, rapid developments for launching good quality fabrics are projected to drive many manufacturers to invest in product development and innovation.

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Carbon Thermoplastics (CFRTP) Composties Market Sales/Retail Channel Analysis and Competitive Insights, 2025

The global carbon fiber reinforced thermoplastic (CFRTP) composites market size is anticipated to reach USD 7.74 billion by 2025. It is also expected to register 10.8% CAGR during the forecasted period, 2016 to 2025. Several features like less weight, more strength, and good fire resistance are anticipated to drive the demand for such composites across the globe.

Several industries like marine, construction and wind turbines require lightweight materials for the production of components. Further, the efficiency of fuel in automobiles also depends on their kerb weight. Thus, the usage of CFRTP is expected to gain traction across many industries in the upcoming years.

These composites are projected to gain wide popularity over other thermosetting resins due to their enhanced properties. These conventional thermosetting resins gain hardness after reheating and require more time for molding into the desired structure and shape. Owing to these limitations, such resins are getting replaced by the CFRTP composites.

Competitive Insights

The key players in the carbon fiber reinforced thermoplastic (CFRTP) composites market are SGL Group, Toray Industries, Inc., Teijin Limited, BASF SE, and Mitsubishi Rayon Co., Ltd. These players are engaged in implementing several marketing strategies like alliances, partnerships, agreements, and joint ventures to gain a competitive advantage over other players.

This market is characterized by the presence of a few key players across the globe which has higher value chain integration. These players have started producing the raw material required for the manufacturing facilities. This initiative has reduced the product price and increased its profit margins.

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Application Insights

The automotive application segment is anticipated to register the highest growth with 14% CAGR during the forecasted years. Several rules and regulations being imposed by statutory governing organizations about vehicle emissions coupled with the need for enhancement of fuel efficiency are projected to drive its market growth in the upcoming years. Moreover, the feature of CFRTP for lowering the vehicle weight is anticipated to drive its demand across the globe.

In 2015, the segment of aerospace and defense dominated the global CFRTP market. This can be associated with the need for lightweight materials in aircraft manufacturing. Also, rapid advances being carried out across the aviation sector are expected to propel the market growth for CFRTP.

Regional Insights

North America dominated the market with a share of around 35% across the globe in 2015. This growth can be attributed to the increasing presence of major aircraft manufacturers like Boeing across this region. Also, the surging number of defense instrument makers is projected to fuel up the market demand in the upcoming years.

Europe is projected to witness the highest growth in revenue generation across the global market during the forecasted period, 2016 to 2025. This can be associated with the imposition of strict regulations and rules about vehicle emissions coupled with the efforts undertaken by the key automotive manufacturers for the same.

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Industrial Refrigeration Systems Market Impact of COVID-19, Vendor Landscape & Raw Material Outlook

The global industrial refrigeration system market size is anticipated to account for USD 26.90 billion by 2027, according to a new report by Million Insights. The market is projected to register 4.6% CAGR over the forecast duration. Increasing demand for compact and innovative industrial refrigeration systems coupled with government initiatives to consolidate cold chain infrastructure is driving the growth of the market. In addition, the rapid expansion of retail food stores globally is further attributed to the growth of the market.

Food processing industry faces challenges in ensuring the freshness of perishable goods. As a result, they are increasingly focusing on the development of cold chain storage. Rising consumption and production of processed food is expected to play a key role in the growth of the industrial refrigeration system.

In the recent past, the demand for online food delivery has surged significantly. This trend has provided a new opportunity in the market, as the refrigeration system would help in keeping the food fresh for a longer duration. In addition, online delivery of meat, fish, poultry, and other processed food has strengthened the demand for cold chain operations, which in turn, has driven the market growth. Further, the growing penetration of the retail sector in emerging countries is supplementing the industrial refrigeration market.

The demand for medical and pharmaceutical products has increased considerably owing to COVID-19 outbreak. Medical products such as drugs, blood bags, vaccines, and others are temperature sensitive. Therefore, increasing the need to preserve pharmaceutical products is driving the demand for industrial refrigeration systems.

Market Share Insights

Key players such as GEA Group¸ DAIKIN INDUSTRIES, Ltd, Danfoss Industries Pvt. Ltd, Emerson Electric Co., and Johnson Controls held the prominent share in the market in 2019. Market players are focusing on developing new technologies collectively to increase profitability. Industry players are continuously undertaking strategic initiatives such as mergers & acquisition, partnerships, agreements, and new product development to stay competitive in the market. For example, Danfoss Industries Pvt. Ltd, in April 2020, introduced an electric liquid level switch. This switch is anticipated to play a crucial role in the safety of the refrigeration system.

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Regional Insights

In 2019, North America accounted for more than 30.0% share in the industrial refrigeration system market by revenue. Increasing consumption of frozen foods in the form of skillet, oven meal, bowl meal, and others are increasing the demand for efficient refrigeration systems in the region. Food producers are likely to contribute to the majority of the share in the market. In addition, an increasing number of ongoing research and clinical testing amid COVID-19 are further anticipated to drive the growth of the product from the pharmaceuticals industry.

The Asia Pacific is estimated to provide lucrative opportunities for the market players owing to the increasing number of cold chain storage systems in countries such as India, China, and Japan. India, on the other hand, is the second-largest producer of vegetables and fruits. Storing and ensuring the improved shelf life of fruits and vegetables can be a challenging task. However, increasing focus by industry players and government in setting up cold storage facilities is driving the demand for industrial refrigeration systems in the country.

COVID-19 Impact Analysis

The market has been negatively affected owing to the outbreak of COVID-19. The majority of industrial operations were shut down across different parts of the world to contain the spread of the virus. Further, consumers’ preferences for home-cooked products have led to a significant drop in the demand for processed food. In addition, disruption in the supply chain further restrained the market growth. However, the demand for essential items continued to rise during the pandemic. Panic buying of food products has positively affected the market growth initially. In addition, the demand for refrigeration systems has witnessed a surge from the pharmaceutical industry. This trend is anticipated to continue owing to ongoing clinical trials and increased demand for medicine.

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White Box Server Market Impact of COVID-19, Product Outlook and Value Chain Analysis

The global white box server market is anticipated to value USD 25.53 billion until 2025. It is also expected to register a CAGR of 22.0% over the forecasted years, 2018 to 2025. Rising adoption of several open-source platforms like Project Scorpio and Open Compute Project coupled with the rising demand for containerization and micro-servers is estimated to trigger the market growth.

There has been a significant rise in the number of OEM vendors approaching ODMs (original design manufacturers) for developing networking equipment. Rapid commoditization and emergence of OCP (Open Compute Project) by Facebook have driven the need for the development of the latest hardware designs for enhancing network and data capacity.

These servers can be easily designed to meet customized business needs and can provide enhanced functionality at lower costs. Several key players operating data centers like Amazon, Facebook, and Google are replicating the white box paradigm along with networking switches. This is anticipated to propel the market growth for white box servers across the globe.

Market Share Insights

The global market includes key players such as Celestica Inc.; MiTac Holdings Corp.; Penguin Computing; Compal Electronics; Hyve Solutions; Inventec Corporation; ZT Sytems; and Hyve Solutions. They are constantly engaged in product development and innovation to gain a competitive advantage over players.

They are focusing majorly on R&D activities for the development of power and cost-efficient server solutions. Also, they are increasing their focus towards the deployment of enhanced storage solutions which can boost performance by 30-50% as that of conventional servers. They are also developing innovative go-to-market strategies and innovative server designs to widen their geographical reach.

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Regional Insights

In 2017, North America held the largest share of more than 30.0% across the global market. This can be attributed to the shifting trend of digitalization prevailing among several enterprises and the rising usage of ICT technologies by key organizations located in this region. Further, the surging number of data centers across countries like the U.S. and Canada is also anticipated to fuel up the market growth.

The Asia Pacific is anticipated to register the fastest growth over the forecasted period, 2018 to 2025. The rising adoption of digital services and mobile devices by the millennial population has boosted the need for the generation of data centers. Thus, the demand for white box servers is projected to increase in these data centers thereby driving the market growth across this region.

COVID-19 Impact Insights

The global white-box server market is impacted positively on account of the ongoing COVID-19 crisis. The imposition of work from home policies by several organizations and the implementation of the online education system are driving the need for strong servers across the globe. Also, travel restrictions by several governments, the rising influence of the e-commerce industry, and the surging usage of the internet are propelling the need for efficient and flexible servers, thereby facilitating the market growth. Such factors are also projected to propel market growth over the post-pandemic period.

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Autonomous Vehicle Market Sales Channel, End-Use Outlook and Impact of COVID-19

The global autonomous vehicle market demand is projected to account for 4.2 million units by the end of 2030, registering over 63% CAGR, according to a new report by Million Insights. Also known as self-driving vehicles, these are the combination of sensors and several networking systems. Over the past few years, there has been significant development in the field of autonomous driving technology. Further, companies such as Google LLC and Tesla have upped their investment in research & development, thereby, attributing to the growth of the market.

The favorable government initiatives and financial support are some of the major factors attributing to the growth of the self-driving vehicle market. A wide range of systems and products together contribute to the infrastructure of autonomous vehicles. Autonomous vehicles ensure the self-mobility of non-drivers and people with disabilities. Owing to the increasing technical advancements, these vehicles are equipped with a wide range of technologies and comfort systems, thereby, allowing people to read, relax and work while traveling.

In addition, the demand for paid drivers is projected to reduce with the increasing penetration of self-driving vehicles, thereby, offering cost-effective mobility solutions. Further, these vehicles would ensure the safety and effective utilization of road infrastructure.

Market Share Insights

Major players in the market include BMW AG, Ford Motor, Google LLC, Nissan Motor, Uber Technologies, Volkswagen AG, Audi AG, and Daimler AG among others. These players are aggressively investing in developing necessary technologies for autonomous vehicles. Further, these companies are working in a collaboration with other stakeholders to gain a competitive edge in the market. For example, recently, Volkswagen and Ford joined hands to co-operate with each other in the development of autonomous vehicles. The deal between the two was valued billions of dollars and they agreed to share hardware and intellectual properties.

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Regional Insights

Over the forecast duration, it is projected that North America would register significant growth. This is due to the supportive government regulation coupled with suitable road infrastructure. States across the United States are adopting favorable regulations to increase the penetration of autonomous vehicles. In addition, the federal government in the U.S has also invested significantly to develop self-driving vehicles for military application.

On the other hand, Europe is likely to offer huge growth opportunities due to rising preferences among consumers for technically advanced vehicles. In addition, several countries in the region are implementing regulations aimed at boosting the adoption of autonomous vehicles. For example, the Department of Transport in the United Kingdom allowed service providers to operate self-driving vehicles on public roads without any special permission. In addition, the government is working towards introducing autonomous vehicles on roads by 2021.

Impact of COVID-19

The outbreak of COVID-19 has resulted in the imposition of lockdown in countries causing massive disruption and halting businesses operations in the automobile industry. Around 90% of the major automobile firms across North America, Europe, and China have been forced to stop their manufacturing facilities. The pandemic has also delayed the investment in the development of novel technologies in the automotive industry.

However, the effect of the pandemic is for the short term only and several countries have started their manufacturing units with limited restrictions. In addition, governments across the globe are increasingly investing in the development of supportive infrastructure, which, in turn, is likely to bode well for the growth of the self-driving vehicles market.

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Air Mattress Market Global Demand, Application Outlook & Impact of COVID-19

The global air mattress market size is projected to reach USD 227.2 million by 2025, according to a new report published by Million Insights, with a CAGR of 8.6% from 2019 to 2025. The increasing need for comfortable sleeping to refrain from diseases like pressure wounds and back pain is expected to surge the demand for these products. Furthermore, the positive growth of the tourism and travel sector due to the increase in the number of holiday and professional trips is anticipated to increase the utility of foldable bedding options for additional accommodation.

Air mattresses have the ability to help in better blood circulation and relief to the individual sleeping on them. Additionally, the product’s ability to change pressure points through position shifting provides relief to back pain patients. Further, growth in the hotel industry in the U.S. due to the rising number of foreign travelers coupled with the growing concept of wellness tourism is predicted to fuel the demand for air mattresses in different hospitals and hotels.

Market Share Insights

The key players include ALPS Mountaineering; LazerLazery; Intex Development Co. Ltd; WENZEL Group; Restoration Goods; Somnio LLC; Bestway; SizeWise; Sleepy Sleep; American National Manufacturing, Inc.; and Drive DeVilbiss Sidhil Ltd. Companies have been focusing on adopting strategies like mergers and acquisitions to expand their presence in the market. For example, the acquisition of U.S.-based luxury mattress brand “Spring Air” by Indian brand “Kurlon” in April 2019, helped the company to expand its business. Furthermore, the introduction of new products with advanced features is predicted to remain a favorable factor for industry players over the years.

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Product Insights 

Twin products accounted for revenue of USD 54.5 million in 2018. The majority of consumers are inclined towards these products due to their easy availability and affordable prices. Consumer preference for nuclear families along with the hike in real estate prices is encouraging people to prefer small living rooms, which, in turn, are fueling the demand for the air mattress market.

The king-size air mattress is predicted to register a CAGR of 10.5% for the period of 2019 to 2025. Normal king-sized segment ranges with a height of 6.5 to 25 inches and measures 76x 80 inches. Changing consumer interests for luxury beds in resorts and hotels is a key factor for the market growth. Luxury hotel chains like Hilton Hotels and Resorts, JW Marriott, InterContinental Hotels Group (HIG), and Hyatt Hotel Corporation focus on installing air mattresses in their gardens and rooms. The companies use superior quality cover materials like high GSM spun polyester fabric to develop air mattresses. Moreover, king-size air mattresses provide a larger space with a better sleeping experience.

Regional Insights

North America held the dominant position accounting for a share of over 35.0% in 2018. The rising importance of a balanced sleeping pattern due to a stressed lifestyle is expected to drive the air mattress market over the years. The awareness among individuals for a healthy lifestyle is encouraging the consumers to spend more on sleeping beds and accessories.  

Asia Pacific is predicted to register the fastest CAGR of 10.0% for the period of 2019 to 2025. The growth in the working population in South Korea, India, and China along with urban development is predicted to boost the purchasing power of the consumers. The urban households are smaller in size, thus, convenient products that are lightweight, easy to fit, and lightweight are preferable by them. To cater to these demands, the manufacturers are investing in product innovation to increase the scope for these markets. For example, an Indian mattress manufacturer, Kurlon, in September 2016, introduced kurlopedic technology with special air-flow technology.

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Electrostatic Precipitator Market Size, Key Players, Revenue Drivers and Impact of COVID-19

The global electrostatic precipitator market size is anticipated to reach USD 14.97 billion by 2025. It is anticipated to register growth with 3.3% CAGR during the forecasted period, 2018 to 2025. This growth can be associated with the increasing health awareness prevailing among the millennial population and the need for curtailing environmental pollution.

Rising industrialization is contributing majorly to the pollution across urbana areas. This can be associated with the emission of harmful chemical fumes and gases from industrial and construction activities. As these electrostatic precipitators safeguard humans from severe illness, their demand is expected to surge up in the upcoming years.

Market Share Insights

The key players in this market are Mutares AG, ELEX AG, Babcock & Wilcox Enterprises, Inc., FLsmidth& Co. A/S, Hamon Group, Thermax Limited, Siemens Aktiengesellschaft, and KC Cottrell Co., Ltd.These players are focusing to develop mobile apps and similar mechanisms for providing easy access to pollution control units. The key players hold a major share across the global market, especially in Europe and North America.

They are also engaged in developing several marketing strategies like cost-effective pricing and expansion to gain a competitive advantage over other players. Several players have started investing hugely for carrying out R&Ds for product expansion and to widen their product reach.

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Technology Insights

The global electrostatic precipitators market can be segmented into wet and dry technology. In 2017, the dry technological segment held the largest share across the global market and generated revenue of USD 9.66 Billion. It is anticipated to register the highest growth during the forecasted years, 2018 to 2025.

The wet type of electrostatic precipitators is considered to be conventional. It is largely used for carrying out the functioning of critical industrial processes like sulfuric acid droplets and mists removal from the gas streams.

Application Insights

The global electronic precipitator market can be segmented into metal, chemical, cement, power generation, manufacturing, and others based on the applications. The application segment if manufacturing is projected to register 4.9% CAGR during the forecasted years, 2018 to 2025.

This growth can be attributed to surging growth across infrastructure and construction activities. Moreover, rapid industrialization across the globe is projected to drive the market growth for electrostatic precipitators in the upcoming years.

Regional Insights

In 2017, the Asia Pacific is projected to hold the highest share across the global electrostatic precipitators market. This can be attributed to the rapid technological advances being made across developing countries like China and India. But, surging population rise and health issues are anticipated to hinder the market growth in the upcoming years. 

Europe held the second-largest share across the global market in 2017. This can be attributed to the rising demand for equipment to control pollution across this region. Countries such as Germany, Italy, U.K, Russia, Spain, and Central and European countries are projected to create a requirement for electrostatic precipitators.

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