Digital Payment Market Expected to Deliver Dynamic Progression By 2030

 

Digital Payment Market Growth & Trends

The global digital payment market size is expected to reach USD 361.30 billion by 2030, expanding at a CAGR of 20.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the growing volume of cashless transactions worldwide. According to PwC, a consulting company, the global volume of cashless payments is expected to increase by more than 80% between 2020 and 2025, to nearly 1.9 trillion by 2025 from nearly 1 trillion transactions in 2020. The rising demand for digital payments has encouraged several smartwatch providers to introduce enhanced smartwatches capable of making contactless payments.

For instance, in December 2021, Xiaomi launched the Mi Smart Band 6, which has been built in collaboration with MasterCard and is capable of conducting contactless payments at MasterCard terminals. Growing smart city projects worldwide are also expected to accentuate market growth. Digital payment forms an integral part of the smart city vision and is witnessing a notable rise in demand from local government bodies and citizens. Under the smart city initiative, digital payments are used across various departments to cover multiple Citizen-to-Government (C2G) and Government-to-Citizen (G2C) payments.

C2G payments include taxes, toll and transit, and water bills while G2C payments include monetary awards, scholarships, and subsidies. The COVID-19 pandemic is expected to impact the market growth favorably over the forecast period. The rise in demand for mobile-based payments and increased online sales worldwide are among the major factors that boosted the market growth during the pandemic. According to a study conducted by Accenture, an information technology company, transactions of value USD 7 trillion are projected to shift from cash to card and digital payments by 2023 and grow to USD 48 trillion by 2030.

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Digital Payment Market Report Highlights

• The payment processing solution segment is expected to retain its dominance over the forecast period. The introduction of payment networks, such as MasterCard, Visa, and RuPay, in multiple countries across the globe, contribute to the segment growth
• The point of sales segment led the market in 2022. The growing preference for digital wallets while paying for e-commerce transactions & online purchases supported the segment growth. Rising adoption of point of sales solutions among brick-and-mortar retail stores will drive the segment during the forecast period
• The on-premise deployment segment dominated the market in 2022. The on-premise deployment of digital payment solutions facilities secures transactions. As a result, various organizations prefer on-premise digital payment solutions
• The large enterprise size segment dominated the market in 2022. Many large enterprises have adopted digital payment solutions to efficiently manage their payment transactions, improve visibility of transactions, and enhance customer experience by reducing the time required to complete the payment
• The BFSI end-use segment led the market in 2022. The continued digitalization of banks and other financial institutions accentuates the growth of the BFSI segment. Banks are adopting digitalized solutions due to the increasing customer demand for contactless payment methods
• The increasing adoption of digital payment solutions in emerging economies, such as China and India, is expected to create growth opportunities for market players in the Asia Pacific region. A rise in government efforts aimed at encouraging digital payments in Asia Pacific region is also one of the major factors contributing to the regional market growth

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Digital Payment Market Segmentation

Grand View Research has segmented the global digital payment market on the basis of solution, mode of payment, deployment, enterprise size, end use, and region:

Digital Payment Solution Outlook (Revenue, USD Billion, 2017 - 2030)

• Application Program Interface
• Payment Gateway
• Payment Processing
• Payment Security & Fraud Management
• Transaction Risk Management
• Others

Digital Payment Mode of Payment Outlook (Revenue, USD Billion, 2017 - 2030)

• Bank Cards
• Digital Currencies
• Digital Wallets
• Net Banking
• Point of Sales
• Others

Digital Payment Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• Cloud
• On-premise

Digital Payment Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Digital Payment End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI
• Healthcare
• IT & Telecom
• Media & Entertainment
• Retail & E-commerce
• Transportation
• Others

Digital Payment Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of Digital Payment Market

• Aliant Payments
• Aurus Inc.
• Adyen
• Financial Software & Systems Pvt. Ltd.
• PayPal Holdings Inc.
• Novatti Group Pty Ltd.
• ACI Worldwide, Inc.
• Global Payments Inc.
• Wirecard
• net
• Total System Services, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Battery Management System Market to Reflect Impressive Expansion During 2023 to 2030: Grand View Research Inc.

 Battery Management System Market Growth & Trends

The global battery management system market size is expected to reach USD 31.27 billion by 2030, growing at a CAGR of 23.4% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The rising adoption of battery management systems (BMS) in applications such as electric vehicles (EVs), power tools, portable battery packs, garden tools, solar energy storage systems, uninterruptible power supply systems, and portable medical equipment, among others is a major driver behind the growth of the battery management system industry.BMS plays a crucial role in these applications by protecting the battery against damage, extending its lifespan, and providing precise information about the battery's condition.

Increasing demand for wireless BMS in the EV industry owing to its several benefits is boosting the market’s growth.Wireless BMSs (wBMS) are revolutionizing the EV industry by offering enhanced safety and reliability, extended drive range, and reduced costs. Additionally, wireless BMS solutions provide more flexibility in battery placement and scalability across different EV platforms. Due to the advantages offered by wireless BMS solutions, numerous automakers are now exploring their use. These solutions eliminate the need for wiring, connectors, and other components, which results in reduced weight.

Furthermore, various companies started producing wireless battery management systems. For instance, in February 2023, LG Innotek, a subsidiary of the South Korean conglomerate LG, developed an 800-volt wireless battery management system for EVs. This innovation is aimed at reducing the size and weight of battery packs. The company plans to commence production of this system in the year 2024.The wireless BMS offers the significant benefit of reducing the weight and volume of a battery pack. As a result, it provides an additional 10 to 15 percent space for expanding the battery pack's capacity.

Increasing use of lithium-ion batteries in several consumer and automotive applications is expected to contribute to the market’s growth. Lithium-ion batteries are extensively used owing to their benefits such as long-life, high-energy density, and low self-discharge. In a lithium-ion battery system, BMS is a crucial component. It performs critical functions such as real-time monitoring and control of individual battery cells, communication with external devices, calculation of state of charge (SOC), and measurement of voltage and temperature, among other key.

The outbreak of the COVID-19 pandemic severely impacted several economies. In addition, increased fuel prices owing to the Russia-Ukraine conflict are expected to prompt consumers to adopt electric vehicles considering the lower lifecycle cost of an electric vehicle as compared to internal combustion engine (ICE) vehicles, which is ultimately making more demand for EV batteries with BMS solutions. Furthermore, aggressive investments in innovation and subsequent advances in battery technology are expected to create new opportunities for the growth of the battery management system industry.

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Battery Management System Market Report Highlights

• The lithium-ion based segment is anticipated to emerge as the fastest-growing segment over the forecast period. Increasing adoption of lithium-ion EV batteries owing to their benefits such as high efficiency, space-saving and lightweight design, and low cost, among others is attributed to the growth of the segment. BMSs are crucial in managing the performance and safety of lithium-ion batteries by monitoring and controlling their charging and discharging rates, performing critical functions such as overcharge and over-discharge protection, cell balancing, and thermal management
• The centralized topology segment accounted for the largest market share in 2022. The adoption of centralized BMS is increasing owing to its major benefits such as low cost and compact design
• The automotive segment is anticipated to emerge as the fastest-growing segment over the forecast period. The increasing development of two and three-wheeled electric vehicles equipped with rechargeable batteries and battery management systems and the growing market for e-bikes/e-scooters in developing countries are expected to boost the segment growth
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2030 due to the vast presence of EV battery start-ups, significant growth in EV sales in the region, and the growing consumer electronics industry in countries such as China India, and Japan

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Battery Management System Market Segmentation

Grand View Research has segmented the global battery management system market based on battery type, topology, application, and region:

Battery Management System Battery Type Outlook (Revenue, USD Million, 2017 - 2030)

• Lithium-Ion Based
• Lead-Acid Based
• Nickel Based
• Flow Batteries

Battery Management System Topology Outlook (Revenue, USD Million, 2017 - 2030)

• Centralized
• Distributed
• Modular

Battery Management System Application Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Consumer Electronics
• Energy
• Defense

Battery Management System Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Netherlands
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
• MEA
  • Kingdom of Saudi Arabia
  • UAE
  • South Africa

List of Key Players of Battery Management System Market

• Elithion, Inc.
• Johnson Matthey PLC
• Analog Devices
• Lithium Balance A/S
• NXP Semiconductor N.V.
• Nuvation Engineering
• Texas Instruments, Inc.
• Leclanché SA
• Eberspaecher Vecture Inc.
• Infineon Technologies AG

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Control Valves Market to Reflect a Holistic Expansion During 2023 to 2030: Grand View Research Inc.

 Control Valves Market Growth & Trends

The global control valves market size is expected to reach USD 12.40 billion by 2030, registering a CAGR of 9.4% during the forecast period, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.50% during the forecast period. Surging demand from industrial sectors such as energy & power, water & wastewater treatment, and oil & gas industry and growing adoption of industrial automation propelling the smart control valves market are fueling the demand for control valves. Additionally, rising demand for control valves in the pharmaceutical and food & beverages industries is expected to drive the market.

Increasing adoption of control valves is rising continuously owing to the benefits they offer in controlling temperature and pressure throughout the downstream, midstream, and upstream activities. Therefore, growing oil & gas exploration activities are triggering the demand for control valves. Control valves offer various benefits of installing modernized and sophisticated fluid handling systems. In the pharmaceutical industry, there is a rising demand for fluid handling systems, owing to safety procedures in order to manufacture a hygienic and safe product.

These sophisticated fluid handling mechanisms are helpful in speeding up the manufacturing process, thus ensuring optimal performance. Moreover, the food & beverages industry utilizes control valves to speed up the manufacturing process and ensure the hygiene of end products such as packaged food. Surging demand for packaged food is augmenting the control valves market growth. This is due to the application of flow control devices with suitable control valve design and technology for improved quality of end product.

Asia Pacific is expected to dominate the market owing to increasing demand from the energy & power and water & wastewater industries. These industries are investing heavily to automate their flow-control processes, so as to increase production efficiency and simultaneously reduce error ratio. Furthermore, expanding the production of oil sands and shale gas in North America and rising oil & gas exploration activities in regions such as Middle East and Africa, and Asia Pacific are accelerating the demand for control valves over the forecast period.

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Control Valves Market Report Highlights

• The actuator segment is expected to dominate the control valves market throughout the forecast period owing to significant cost as compared to valve body and other components
• The market for control valves with size ranging from 1” to 6” is expected to dominate throughout the forecast period owing to its wide demand across the food & beverages, pharmaceutical, energy & power, and chemical industries.
• Asia Pacific is expected to be the most prominent region over the forecast period owing to increasing demand from industries such as oil & gas, water & wastewater, and energy & power in emerging economies such as China and India.
• Prominent industry participants include Emerson Electric Co., Flowserve Corporation, IMI plc, Schlumberger Limited, and AVK Holding A/S.

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Control Valves Market Segmentation

Grand View Research has segmented the global control valves market based on component, size, product, application, and region:

Control Valves Component Outlook (Revenue, USD Million, 2018 - 2030)

• Valve Body
• Actuators
• Others

Control Valves Size Outlook (Revenue in USD Million, 2018 - 2030)

• Less than 1"
• Between 1" to 6"
• Between 6" to 25"
• Between 25" to 50"
• More than 50"

Control Valves Product Outlook (Revenue in USD Million, 2018 - 2030)

• Linear
  • Gate
  • Diaphragm
  • Others
• Rotary
  • Ball
  • Butterfly
  • Plug

Control Valves Application Outlook (Revenue in USD Million, 2018 - 2030)

• Oil & Gas
• Chemicals
• Energy & Power
• Water & Wastewater Treatment
• Food & Beverages
• Pharmaceuticals
• Others

Control Valves Regional Outlook (Revenue in USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

List of Key Players in the Control Valves Market

• Emerson Electric Co.
• Flowserve Corporation
• IMI plc
• Alfa Laval AB
• AVK Holding A/S
• Eaton
• Honeywell International, Inc.
• Velan Inc.
• Burkert Fluid Control System
• Valvitalia SpA

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Anti-biofilm Wound Dressing Market Forecast 2030: Top Companies, Trends and Growth Factors Details for Business Development

 Anti-biofilm Wound Dressing Market Growth & Trends

The global anti-biofilm wound dressing market size is expected to reach USD 1.48 billion by 2030, registering a CAGR of 9.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), the growing prevalence of chronic diseases, and the increasing number of burn cases are the key driving factors for the market.

Increasing the prevalence of chronic diseases across the globe is anticipated to drive the market. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period. The anti-biofilm wound dressing is very much effective in healing chronic injuries, thus, this factor is expected to propel the demand for the product. Furthermore, the increasing geriatric population across the globe is also anticipated to surge the market growth. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 90.0 million in 2016 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and ulcers, thus growing geriatric population is also expected to surge in market growth.

Increasing cases of accidents and trauma such as burns are expected to contribute to market growth. Traumatic events are most common in low and middle-income countries in comparison to high-income countries. Around 50.00% of people globally are exposed to fire-related traumas. For instance, as per the WHO, over 1,000,000 people are registered, annually, as moderately or severely burnt. Therefore, such an increase in the number of burn cases is projected to boost the demand for the products, thereby propelling the market growth over the forecast period. 

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Anti-biofilm Wound Dressing Market Report Highlights

• In terms of revenue, the chemical mode of the mechanism segment held the largest share in 2019. An increase in the use of silver anti-biofilm wound dressing in chronic and acute injuries is the major factor driving the segment
• The acute wounds segment held the largest market share in 2019 owing to the rising number of surgical procedures across the globe
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local players.

Accees Press Release@ https://www.grandviewresearch.com/press-release/global-anti-biofilm-wound-dressing-market

Anti-biofilm Wound Dressing Market Segmentation

Grand View Research has segmented the global anti-biofilm wound dressing market based on mode of mechanism, application, end-use, and region:

Anti-biofilm Wound Dressing Mode of Mechanism Outlook (Revenue, USD Million, 2018 - 2030)

• Physical
  • Manual Debridement
  • Pulse Electrical Field
  • Ultrasound Debridement
• Chemical
  • Ionic Silver
  • Iodine
  • EDTA
  • Others
• Biological
  • Dispersin B
  • Lactoferrin
  • Bacteriophage
  • Others

Anti-biofilm Wound Dressing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Chronic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Others
• Acute Wounds
  • Surgical & Traumatic Wounds
  • Burn Wounds

Anti-biofilm Wound Dressing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Specialty Clinics
• Home Healthcare
• Others

Anti-biofilm Wound Dressing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players in Anti-biofilm Wound Dressing Market

• ConvaTec Inc.
• Smith & Nephew PLC
• Urgo Medical
• Coloplast
• 3M
• Mölnlycke Health Care AB
• Imbed Biosciences
• Next Science
• Braun Melsungen AG
• Lohmann & Rauscher

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Global Demand for Semi-trailer Market to Incur Considerable Upsurge During 2021 – 2028: Grand View Research Inc.

 Semi-trailer Market Growth & Trends

The global semi-trailer market size is anticipated to reach USD 29.36 billion by 2028, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.

Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.

Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers. Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.

Manufacturers are increasingly incorporating advanced technologies such as driver assistance systems (DAS) and other connectivity solutions into their products to help their consumers (fleet operators/logistics service providers) enhance operational efficiency. Furthermore, growing preference for platooning and introduction of electric semi-trailer trucks are expected to create huge opportunities for the manufacturers in the coming years. Manufacturers are increasingly focusing on introducing lightweight transport vehicles through improved designs and lighter components to ensure greater productivity and payload.

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Semi-trailer Market Report Highlights

• The dry vans segment is expected to witness a revenue-based CAGR of more than 4.0% due to growth in the retail and fast-moving consumable goods (FMCG) industry, especially in the developing economies
• The Asia Pacific market is expected to witness substantial growth owing to improving road infrastructure and anticipated growth in the automobile industry. Automotive companies are manufacturing many cars and two-wheelers which are being transported through semi-trailers to end-consumers
• The market is highly consolidated with the presence of established players such as Wabash National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer GmbH
• Players are focusing on R&D investments, acquisitions and mergers, and product innovation in order to strengthen their market presence. For instance, in 2017 Wabash National Corporation entered into a definitive agreement to acquire Supreme Industries, Inc. to enhance its market presence in dry vans.

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Semi-trailer Market Segmentation

Grand View Research has segmented the global semi-trailer market based on type and region:

Semi-trailer Type Outlook (Volume, ‘000 Units; Revenue, USD Million, 2016 - 2028)

• Flat Bed Trailer
• Dry Vans
• Refrigerated Trailers
• Lowboy Trailers
• Tankers
• Others

Semi-trailer Regional Outlook (Volume, ‘000 Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa (MEA)

List of Key Players of Semi-trailer Market

• China International Marine Containers (Group) Ltd.
• Fontaine Commercial Trailer, Inc.
• Great Dane
• Kogel Trailer GmbH & Co.KG
• Krone Commercial Vehicle Group
• Lamberet SAS
• Polar Tank Trailer, LLC
• Schmitz Cargobull
• Utility Trailer Manufacturing Company
• Wabash National Corporation
• HYUNDAI TRANSLEAD

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Surfactant Market Industry Analysis , Opportunity Assessment And Forecast Till 2022: Grand View Research Inc.

 Surfactants Market Growth & Trends

In 2014, the global surfactant market was worth USD 25.60 billion. Development of detergents market predominantly in Latin America and Asia Pacific as a result of rising disposable income levels is likely to drive market growth. Moreover, growing oilfield chemicals demand on account of speedily growing E&P activities in China and North America is also expected to drive the global surfactants market.

Surfactants are used to diminish surface tension between a solid and a liquid or between two liquids in the form of emulsifiers, wetting agents, foaming agents, detergents or dispersants. They are used in numerous end-use industries for instance cosmetics, agrochemicals and pharmaceuticals. Constant progress in these sectors is projected to assist the major industry participants.

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Surfactants Market Report Highlights

Anioinic surfactants was the largest product type which accounted for over 45% of the market in 2014. Increasing demand for linear alkyl benzene in cleaners and detergents on account of profitable characteristics of products led to the high market share. Amphoteric surfactant type is projected to witness the highest growth rate, at an estimated CAGR of 4.9% from 2015 to 2022. Amphoteric surfactants are extensively being used worldwide owing to their various properties such as conditioning, bio degradability, foaming & foam stabilization and detergency.

Surfactant application accounted for the highest market share of over 40% in 2014. Growing product demand in detergents, household cleaners and soaps accounted for the huge demand in home care segment. Personal care application is forecasted to witness the highest growth rate, at an anticipated CAGR of 5.0% from 2015 to 2022. The growing demand for new innovative products such as anti-aging creams and make-up is expected to drive the demand for personal care application.

Asia Pacific accounted for over 30% of the global surfactant market in 2014.Increasing demand for home care and personal care products along with rising awareness about bio-based products is projected to provide an upper hand over other regions in the near future.

BASF - Cognis was the leading company in 2014 contributing over 30%of the total market share of global surfactants market. Other major companies in the market include Akzo Nobel, Kao, Stephan, Rhodia, Clariant, Evonik, Croda and Huntsman. The major industry participants in global surfactants market are developing new innovative products. In addition, some of the key strategies of the industry participants include joint ventures, mergers & acquisitions along with efficient marketing strategies. Media platforms are projected to be utilized on a large scale for product promotion and differentiation.

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Surfactants Market Segmentation

Grand View Research has segmented the global surfactants market on the basis of product, application and region:

Global Surfactants Product Outlook (Volume, Kilo Tons; Revenues, USD Million, 2012 - 2022)

• Cationic surfactant
• Nonionic surfactant
  • Fatty Al Ethoxylates (AE)
  • Alkyl Phenol Ethoxylates (NPE)
  • Others
• Anionic surfactant
  • Linear Alkyl Benzene
  • FAI Ether Sulfates
  • Sulfosuccinates
  • Others
• Amphoteric surfactant
• Other Surfactants

Global Surfactants Application Outlook (Volume, Kilo Tons; Revenues, USD Million, 2012 - 2022)

• Home Care
• Personal Care
• Industrial & Institutional Cleaners
• Food Processing
• Oilfield Chemicals
• Agricultural Chemicals
• Textiles
• Emulsion Polymerization (Plastics)
• Paints & Coatings
• Construction
• Other Applications
• Others

Global Surfactants Regional Outlook (Volume, Kilo Tons; Revenues, USD Million, 2012 - 2022)

• North America
• Europe
• Asia Pacific
• RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Photoelectric Sensors Market Estimated to Experience a Hike in Growth by 2025: Grand View Research Inc.

 The global photoelectric sensors market size is expected to reach USD 2.09 billion by 2025, according to a new report by Grand View Research, Inc., registering a 6.1% CAGR during the forecast period. These sensors are widely used in packaging and manufacturing industries as they offer numerous advantages such as cost effectiveness, long sensing distances, fast response time, and high resolution. These high-efficiency products are expected to witness an increase demand also owing to benefits such as low maintenance, long operating life, and low power consumption.

Rising penetration of Industrial Internet of Things (IIoT) is further expected to enhance market growth. This growth is attributed to numerous benefits, including maximizing asset utilization, improving productivity, and enhancing work safety. These devices help in connecting machines and devices to enhance efficiency, productivity, and operation of industrial facilities.

The photoelectric sensors market is anticipated to witness a considerable demand over the forecast period, which stems from industries such as healthcare, oil and gas, and military and aerospace across developed and developing countries.

Increasing government regulations pertaining to fuel emissions, along with increasing use of photoelectric sensors in automotive applications such as failure diagnostics, throttle control, contactless positioning sensing, and precision position measurement for better control, are key factors spurring market growth.

The emergence of smart photoelectric sensors is expected to drive market growth over the forecast period. This may be ascribed to several benefits such as reduced down time, lower cost, adaptability for self-calibration and compensation, fewer interconnections between multiple sensors and control systems, lower weight, and higher reliability.

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Further key findings from the report suggest:

• The photoelectric sensors market was valued at USD 1.24  billion in 2016 and is projected to expand at a CAGR exceeding 6.0% over the forecast period. This is largely attributed to rising penetration of IIoT in industrial facilities
• By technology, the retro-reflective segment captured a major market share in 2016. The segment is also expected to grow at the highest rate over the forecast period owing to its capability to offer sturdy construction, low maintenance, and efficient detection of shiny and transparent objects
• The packaging industry as an end-use segment is expected to grow at the highest rate over the forecast period as these products are broadly adopted to detect transparent bottles, control conveyor positioning, and monitor product presence
• The Asia Pacific region is projected to witness substantial growth, exhibiting a CAGR exceeding 6.0% over the forecast period. This is owing to rising industrial automation and increasing government regulations in the developing economies of China, India, and Japan
• Key players such as Panasonic Corporation; Keyence Corporation; Rockwell Automation Inc.; Autonics Corporation; and Schneider Electric SE dominated the market in 2016, with a focus on increasing market presence through mergers and acquisitions.

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Grand View Research has segmented the global photoelectric sensors market based on technology, end use, and region:

Photoelectric Sensors Technology Outlook (Revenue, USD Million, 2014 - 2025)

• Diffused
• Retro-Reflective
• Thru-Beam

Photoelectric Sensors End-use Outlook (Revenue, USD Million, 2014 - 2025)

• Automotive
• Military & Aerospace
• Electronics & Semiconductor
• Packaging
• Others

Photoelectric Sensors Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
  • Mexico
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Agriculture Drones Market Growth in the Coming Years

 Agriculture Drones Market Growth & Trends

The global agriculture drones market is expected to reach USD 10.27 billion by 2030, registering a CAGR of 24.3%, according to a new study conducted by Grand View Research, Inc. Agriculture drones equipped with various sensors, including multispectral and thermal cameras, can capture detailed data about crop health, moisture levels, and pest infestations. This data lets farmers decide precisely where and when to apply water, fertilizers, and pesticides. By identifying specific areas of a field that require attention, drones enable targeted interventions, reducing the need for blanket treatments Blanket treatment refers to applying a treatment, such as pesticides or fertilizers, uniformly or indiscriminately across an entire area or field without considering specific variations or needs within that area. Thus, the use of agricultural drones in reducing blanket treatment offers a more targeted, efficient, and sustainable approach to farming by minimizing input usage and environmental impact while optimizing crop health and yield.

Integrating agriculture drones with other precision agriculture technologies, such as global positioning system (GPS), geographic information system (GIS), and data analytics, allows seamless collaboration and enhances the effectiveness of precision farming practices. By combining data collected by drones, including field mapping, crop health, crop damage assessment, etc., with other source of information such as satellite imagery, weather data, and historical crop data, farmers can gain a comprehensive understanding of their fields. Drone imagery can be processed and analyzed using specialized software to generate vegetation indices, heat maps, and 3D models. For instance, Pix4D SA offers cloud-based software that allows users to process and analyze drone imagery to create vegetation indices, heat maps, and 3D models. Integrating drone data with precision agriculture technologies significantly enhances the effectiveness and efficiency of precision farming techniques.

Furthermore, integrating machine learning (ML) and artificial intelligence (AI) in agriculture drone systems enhances operations and reduces costs. By leveraging AI and ML algorithms, farmers can analyze drone-collected data to monitor crop health, detect diseases, optimize resource allocation, and make data-driven decisions. This integration enables precision agriculture, variable rate application, autonomous operations, weed and pest management, and predictive analytics, enhancing efficiency, sustainability, and overall productivity in the agriculture industry.

The pandemic had a negative impact on the agriculture drones market. The COVID-19 pandemic brought significant economic uncertainty across various industries, including agriculture. Farmers and the agricultural industry faced financial challenges due to market disruptions, supply chain issues, and fluctuating commodity prices. In such an uncertain economic environment, many farmers became cautious about investing significantly in new technologies like agriculture drones. Instead of allocating resources to technology adoption, they often prioritized financial stability and managing immediate operational concerns. This cautious approach led to a slowdown in adopting agriculture drones as the focus shifted away from long-term technological advancements.

The market providers have adopted several latest trends to enhance their operations and meet the growing demand for efficient agriculture drones. Agriculture drone providers are incorporating advanced imaging technologies such as multispectral and hyperspectral sensors, thermal cameras, and LiDAR (Light Detection and Ranging) systems. For instance, in April 2023, Sentera announced that its high-quality multispectral 6X Sensor, designed specifically for agricultural applications, is now fully compatible with the Astro drone manufactured by Freefly Systems, an American UAV manufacturer. This compatibility enables users to effortlessly combine the 6X Sensor with the Astro drone, enabling the gathering of precise multispectral agricultural data and streamlining decision-making processes for increased efficiency and effectiveness.

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Agriculture Drones Market Report Highlights

• The rotary wing segment dominated the market, accounting for a market share of 62.9% in 2022. Rotary drones are considered easy to use in the agriculture drones due to their stability, intuitive flight controls, automated flight modes, obstacle avoidance systems, user-friendly software, and compact & portable designs. These features simplify drone operation, making them accessible to operators with varying experience and technical expertise, ultimately enhancing their utility in agricultural applications.
• The services segment is expected to register the highest CAGR of 25.9% from 2023 to 2030. The growth of the segment can be attributed to the offerings such as data processing and analysis services of various service providers help farmers to make informed decisions about crop management, irrigation, and pest control.
• The outdoor farming dominated the market, accounting for a market share of 82.8% in 2022. Outdoor farming encompasses a wide variety of crops with varying needs. Drones can be employed for crop monitoring, pest and disease detection, yield estimation, and irrigation management. This diversity of applications makes drones highly relevant in outdoor farming.
• The field mapping segment is expected to register the highest CAGR of 25.7% from 2023 to 2030. Accurate field maps enable farmers to identify areas requiring different treatments, such as varying irrigation levels, fertilizer application rates, or pest control measures. This optimization at a micro-scale can lead to increased crop yields and improved resource efficiency.
• North America region dominated the market in 2022. North America's dominance in the market is driven by its extensive and diverse agricultural sector, characterized by vast farmlands and a wide range of crops, necessitating efficient monitoring. Additionally, the region's strong technological innovation ecosystem, including leading drone manufacturers and agriculture tech startups, ensures the development of specialized, cutting-edge agriculture drones tailored to the unique needs of North American farmers.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-agriculture-drones-market

Agriculture Drones Market Segmentation

Grand View Research has bifurcated the global agriculture drones market based on type, component, farming environment, application, and region:

Agriculture Drones Type Outlook (Revenue, USD Million; 2017 - 2030)

• Fixed Wing
• Rotary Wing

Agriculture Drones Component Outlook (Revenue, USD Million; 2017 - 2030)

• Hardware
  • Frames
  • Flight Control Systems
  • Navigation Systems
  • Propulsion Systems
  • Cameras
  • Sensors
  • Others
• Software
• Services
  • Professional Services
  • Managed Services

Agriculture Drones Farming Environment Outlook (Revenue, USD Million; 2017 - 2030)

• Indoor Farming
• Outdoor Farming

Agriculture Drones Application Outlook (Revenue, USD Million; 2017 - 2030)

• Crop Management
• Field Management
• Crop Spraying
• Livestock Monitoring
• Variable Rate Application (VRA)
• Others

Agriculture Drones Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• South America
  • Mexico
• Middle East & Africa
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

List of Key Players in the Agriculture Drones Market

• DJI
• Parrot Drone SAS
• AgEagle Aerial Systems Inc
• AeroVironment, Inc.
• PrecisionHawk
• Trimble Inc.
• DroneDeploy
• Autel Robotics
• Draganfly Inc
• Pix4D SA
• Sky-Drones Technologies Ltd
• Sentera

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Microgrid Market to Reap Excessive Revenues By 2030

 Microgrid Market Growth & Trends

The global microgrid market size is expected to reach USD 224.34 billion by 2030, registering a CAGR of 17.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

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Microgrid Market Report Highlights

• The Combined Heat & Power (CHP) power source segment dominated the global market and accounted for more than 37.0% of the overall revenue share in 2023. Shifting preference from conventional Separate Heat & Power (SHP) system to energy generation from single fuel is expected to have a substantial impact on the segment growth.
• The grid-connected product segment dominated the global market and accounted for more than 65.0% of the overall revenue share in 2023. The rising popularity of smart micro-grid-connected PV systems to provide electricity to consumers by reducing transmission losses is expected to have a substantial impact.
• North America led the global market and accounted for more than 35.0% of the overall revenue share in 2023. The high adoption rate of captive power generation methods in the industrial and municipal sectors of the U.S. for reducing reliance on the government-controlled power supply is expected to have a substantial impact.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-microgrid-market

Microgrid Market Segmentation

Grand View Research has segmented the global microgrid market on the basis of on power source, product, application, and region:

Microgrid  Power Source Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Natural Gas
• CHP
• Solar PV
• Diesel
• Fuel Cell
• Others

Microgrid  Product Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Remote
• Grid Connected
• Hybrid

Microgrid  Application Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Government
• Education
• Commercial
• Utility
• Defense
• Others

Microgrid  Regional Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa

List of Key Players in the Microgrid Market

• ABB
• Siemens AG
• General Electric
• Eaton Corp.
• Exelon
• Honeywell International
• NRG International
• Anarbic
• Pareto
• Spirae
• Northern Power
• Viridity

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Global Demand for Marketing Automation Market Increasing in Most Part of World 2027

 The global marketing automation market size is expected to reach USD 8.42 billion by 2027, expanding at a CAGR of 9.8% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Owing to the rising significance of automation solutions in marketing and sales to increase revenue and average deal size, target customers across multiple channels, and retain customers, the market will witness healthy growth. Moreover, the marketing automation solutions help automate repetitive, monotonous tasks such as emails, social media, and other website functions. Technological advancements, such as Artificial Intelligence (AI) and data science, the use of analytics in marketing and sales is also likely to boost the growth prospects of the market over the forecast period.

A recent survey suggests that there were around 3.9 billion email users and about 3.5 billion social media users in 2019. Email marketing is still one of the primary channels of marketing, wherein the scope of automation in the segment will remain highly effective. Generally, email marketing involves sending newsletters, solicit sales, request donations, advertisements, and request businesses via emails. Automation technology in email marketing has proved beneficial and helpful in generating quality leads, and successful implementation of marketing campaigns. The rise of social media and the rapid penetration of mobile and smart devices will foster the marketing solutions and its automation over the forecast period.

Growing demand for marketing automation solutions is likely to drive huge investments in the industry. Large technology companies are aggressively acquiring smaller tech startups and companies to gain an advantage and establish market dominance. Moreover, an industrial survey of usage of marketing automation solutions suggests that on average, 50% of companies are currently using marketing automation. More than half of B2B companies are planning to implement the automation technology for its marketing and sales purposes in the coming years. Thus, the rising demand for marketing automation among B2B companies, increasing internet penetration and subsequent digitalization of industries is likely to boost the market growth over the forecast period. 

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https://www.grandviewresearch.com/industry-analysis/marketing-automation-software-market

Further key findings from the report suggest:

• The reporting and analytics segment is likely to dominate the marketing automation market in the coming years. Increasing use of artificial intelligence and machine learning to engage with customers through various channels such as messaging, voice, and IoT devices are some of the key driving factors
• Cloud deployment was the most preferred way of deploying the software in 2019, and the segment is predicted to maintain its dominance over the next eight years. Growth in cloud computing technology and its services such as Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) will foster the growth
• The small and medium enterprises segment is anticipated to be the fastest growing segment over the forecast period. Innovation in marketing strategies, increase in productivity, and customer retention are some of the factors that are propelling SMEs to adopt marketing automation solutions
• Discrete manufacturing is anticipated to emerge as the fastest growing segment by 2027. Integration of CRM with marketing service solutions to eliminate redundant tasks and to retain customers is likely to promote the applications of marketing automation among manufacturers
• Asia Pacific is expected to experience the highest growth over the forecast period, attributed to the presence of emerging economies such as India and China, who possess large customer base. Moreover, increasing awareness about the marketing tools and services, growing penetration of internet, rise in number of social media platforms, and usage of smart devices is likely to promote the growth
• Market comprises of some prominent players such as Adobe Inc.; Cognizant; Act-On Software, Inc.; HubSpot, Inc.; Oracle Corporation; Salesforce.com, Inc.; IBM Corporation; Keap; Marketo, Inc.; and Teradata Corporation; among others. Moreover, large vendors are observed acquiring other players to consolidate their market share and expand their existing portfolio

Access Press Release@ https://www.grandviewresearch.com/press-release/global-marketing-automation-software-market

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

Marketing Automation Solution Outlook (Revenue, USD Million, 2016 - 2027)

• Campaign Management
• Email Marketing
• Inbound Marketing
• Mobile Applications
• Lead Nurturing & Lead Scoring
• Reporting & Analytics
• Social Media Marketing
• Others

Marketing Automation Deployment Outlook (Revenue, USD Million, 2016 - 2027)

• On-premise
• Cloud

Marketing Automation Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)

• Large Enterprises
• Small & Medium Enterprises

Marketing Automation End-use Outlook (Revenue, USD Million, 2016 - 2027)

• BFSI
• Retail
• Healthcare
• Telecom & IT
• Discrete Manufacturing
• Government & Education
• Others

Marketing Automation Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.