Filters Market Size, Industry Share And Growth Analysis For 2021-2028: Grand View Research Inc.

 Filters Market Growth & Trends

The global filters market size is expected to reach USD 101.88 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. The growing demand for filters from the automobile industry to reduce the emission levels owing to the regulations by several agencies, such as the U.S Environment Protection Agency (EPA) and Department of Energy (DOE), is expected to drive the market over the forecast period.

The market is expected to witness significant growth over the forecast period owing to the rise in product demand from the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.

The increasing concerns regarding clean air are also anticipated to boost the growth of the air filtration industry over the forecast period. The rise in disposable income, rapid urbanization, and health concerns have resulted in people investing significantly in air purifier systems for domestic use. This shift in consumer behavior is expected to positively impact the market growth over the forecast period.

The industry exhibits a large number of established players controlling a significant market share. Key players are focused on research and development activities for the development of new products and services in the market to enhance their service offerings, thereby attaining business growth in the market.

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Filters Market Report Highlights

• By product, air filters are expected to exhibit the fastest CAGR of 6.1% from 2021 to 2028 on account of the high product penetration in air filtration products, such as air purifiers
• The motor vehicles application segment dominated the market in 2020 owing to the extensive product use in the automobile industry to reduce the fuel consumption levels and the rapid growth of the automobile industry
• Asia Pacific is estimated to exhibit the fastest CAGR over the forecast period owing to the growing product demand in industries, such as chemicals, power generation, metal processing, and cement, to reduce the greenhouse gas emissions
• The demand for filters is expected to be hampered owing to the COVID-19 pandemic in 2020. Lockdowns in major countries led to the temporary closure of various industries and automobile production units to limit the spread of the virus
• The companies are emphasizing the development of new sustainable products to offer improved efficiency and better value to the customers. Extension of products and service offerings to customers is also one of the primary strategies employed by the companies

Filters Market Segmentation

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

Filters Product Outlook (Revenue, USD Million, 2017 - 2028)

• Fluid Filters
• ICE Filters
• Air Filters

Filters Application Outlook (Revenue, USD Million, 2017 - 2028)

• Motor Vehicles
• Consumers Goods
• Utilities
• Industrial & Manufacturing
• Others

Filters Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Thailand
  • Malaysia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Filters Market

• 3M
• Airex Filter Corporation
• Koch Filter
• Freudenberg Filtration Technologies SE & Co. KG
• Donaldson Company, Inc.
• Camfil AB
• Parker Hannifin Corporation
• DENSO Corporation
• Clark Air Systems
• Spectrum Filtration Pvt. Ltd.

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.

Building-integrated Photovoltaics Market Will Target Emerging Markets by 2028

 Building-integrated Photovoltaics Market Growth & Trends

The global building-integrated photovoltaics market size is expected to reach USD 59.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 20.0% from 2021 to 2028. The market has witnessed significant product adoption in recent years due to the high aesthetic appeal of integrated solar panels.

Various regulations enacted by the European Commission mandate the size and specifications of the installations to be used for commercial, residential, and industrial applications. Increased efforts taken by the national governments toward the use of renewable sources of energy are likely to drive the market over the forecast period.

Research and development efforts are increasingly being taken in the market in order to improve the efficiency of cells used in BIPV installations. Technological advancements have also led to the introduction of organic photovoltaics with higher bandgap and increased efficiency. Both these factors are expected to result in an increased demand for BIPV over the forecast period.

Companies operate through a well-established distribution network, which enables them to charge a higher price for the installation as compared to manufacturers. BIPV manufacturers are generally forward integrated for the distribution and installation of the modules onto buildings. Market players such as Suntech are involved in the manufacturing of BIPV modules that are supplied to end users. Such companies benefit from higher profit margins due to the elimination of distributors.

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Building-integrated Photovoltaics Market Report Highlights

• By technology, the crystalline silicon segment occupied a dominant position in 2020 owing to the abundant product availability. In addition, C-Si offers high conversion efficiency on a commercial scale, which leads to high demand for the installation
• Based on application, roofs held the largest revenue share in 2020 on account of the ease of product installation, coupled with their high-performance characteristics
• The commercial application segment held a considerable share in 2020. The high emphasis on the aesthetic appeal of solar energy-harnessing systems primarily in commercial establishments is likely to fuel the demand for the product in commercial applications

Building-integrated Photovoltaics Market Segmentation

Grand View Research has segmented the global building-integrated photovoltaics market on the basis of technology, application, end use, and region:

BIPV Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Crystalline Silicon
• Thin Film
• Others

BIPV Application Outlook (Revenue, USD Million, 2016 - 2028)

• Roofs
• Walls
• Glass
• Facade
• Others

BIPV End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Residential
• Commercial
• Industrial

BIPV Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Building-Integrated Photovoltaics Market

• AGC Solar
• Belectric
• Heliatek GmbH
• Carmanah Technologies Corp.
• Dyesol Ltd. (Greatcell Solar Ltd.)
• Ertex solartechnik GmbH
• ISSOL SA
• Canadian Solar Inc.
• Onyx Solar Energy S.L.
• Tesla 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.

Enteral Feeding Formulas Market to Reflect Impressive Expansion During 2021 to 2028: Grand View Research Inc.

 Enteral Feeding Formulas Market Growth & Trends

The global enteral feeding formulas market size is expected to reach USD 9.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. The growing prevalence of chronic diseases such as cancer, stroke, multiple sclerosis, dementia, chronic liver disease, Chronic Obstructive Pulmonary Disease (COPD), and diabetes is projected to drive the demand for products that support patients with oral intake issues. In addition, the rise in preterm births is one of the significant factors boosting the demand for enteral feeding formulas to meet the nutritional requirements of newborns.

Based on product, the standard formulas segment dominated the market and accounted for the largest revenue share of 54.0% in 2020. This high share is attributable to the availability of a vast variety of standard formulas coupled with increased demand for low-cost nutrient formulations. In addition, the demand with respect to standard tube feeds is significant among the volume-sensitive patients or the patients on fluid restrictions. Such conditions include renal failure, congestive heart failure, and Syndrome of Inappropriate Antidiuretic Hormone (SIADH).

In 2020, based on flow type, the intermittent feeding flow type segment accounted for the highest revenue share in the market because intermittent feeding has shown better tolerance in patients as compared to bolus feeding. Moreover, this type of feeding does not require feeding pumps, which is helpful in allowing greater mobility in between the feedings. This is expected to increase its adoption among the hospital as well as homecare settings, thereby affirmatively impacting the segment growth.

In 2020, based on stage, the adults' segment accounted for the highest revenue share of 88.4% in the market. The segment is projected to witness the fastest CAGR over the forecast period. The rising adoption of tube feeds in adults is one of the crucial factors driving the growth. In addition, the availability of large number of tube feeds or products for adults on a commercial level also contributes to the large share held by the segment. Glucerna, Osmolite, TwoCal, Vital, Promote, and Jevity are some of the popular brands by Abbott Nutrition for adults.

Based on indications, other indications, followed by cancer care accounted for the largest share in terms of revenue in 2020. The increasing prevalence of cancer and other health conditions associated with cancer is likely to promote market growth. For instance, according to GLOBOCON 2020, there were around 19.3 million new cases of cancer worldwide in 2020. Europe accounted for about 23.4% of total cancer cases and Asia had the highest population suffering from cancer, which was about 60%.

In 2020, based on end user, the homecare segment accounted for the highest revenue share in the market and this segment is projected to witness the fastest CAGR over the forecast period. The increasing number of patients that receive home enteral feeding due to growing awareness about complete and balanced nutrition is one of the key factors contributing to the growth of this segment. For instance, according to a recent survey conducted in the U.K., there were 187 patients on home enteral tube feeding out of the total 257 patients. This suggested that approximately 72% of patients were on home enteral tube feeding.

North America dominated the market with a revenue share of 29.7% in 2020 owing to the growing burden of chronic diseases such as diabetes, cancer, and other neurological conditions. Furthermore, increasing preference for home-based enteral therapy has decreased the number of patient visits to hospitals and clinics. In addition, increasing malnutrition is expected to further boost the demand for enteral feeding formulas in this region.

In addition, the rising number of COVID-19 cases in various geographies coupled with the large geriatric population, susceptible to various health conditions, are among the factors contributing to the growth of the market. For instance, according to an article published in Europe PMC in 2020, enteral nutrition is generally preferred over parenteral nutrition for COVID-19 patients admitted to the ICUs. In addition, it should be provided within 48 hours of admission. Hence, such instances signify increasing adoption of enteral feeding formulas during the pandemic.

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Enteral Feeding Formulas Market Report Highlights

• The market is anticipated to grow over the forecast period owing to the growing prevalence of chronic diseases and the rise in preterm births
• The standard formulas segment dominated the market in 2020, owing to the availability of a wide variety of standard formulas coupled with increased demand for low-cost nutrient formulations
• The intermittent feeding flow segment dominated the market in 2020, owing to better tolerance in patients shown by intermittent flow as compared to bolus feeding
• Adults accounted for the largest revenue share in the market in 2020 owing to the rising adoption of tube feeds in the adults and the availability of a large number of tube feeds or products for adults on the commercial level
• Other indications followed by cancer care accounted for the largest share in terms of revenue in 2020. The increasing prevalence of cancer and other health conditions associated with cancer is likely to promote market growth
• The homecare segment accounted for the highest revenue share in the market owing to the rising number of patients that receive home enteral feeding due to growing awareness about complete and balanced nutrition
• North America dominated the market with a revenue share of 29.7% in 2020 owing to the growing burden of chronic diseases such as diabetes, cancer, and other neurological conditions

Enteral Feeding Formulas Market Segmentation

Grand View Research has segmented the global enteral feeding formulas market based on product, flow type, stage, indications, end-user, and region:

Enteral Feeding Formulas Product Outlook (Revenue, USD Million, 2014 - 2028)

• Standard formula
• Disease-specific formula

Enteral Feeding Formulas Flow Type Outlook (Revenue, USD Million, 2014 - 2028)

• Intermittent feeding flow
• Continuous feeding flow

Enteral Feeding Formulas Stage Outlook (Revenue, USD Million, 2014 - 2028)

• Adult
• Pediatric

Enteral Feeding Formulas Indication Outlook (Revenue, USD Million, 2014 - 2028)

• Alzheimer’s
• Nutrition Deficiency
• Cancer Care
• Diabetes
• Chronic Kidney Diseases
• Orphan Diseases
• Dysphagia
• Pain Management
• Malabsorption/GI Disorder/Diarrhea
• Others

Enteral Feeding Formulas End-user Outlook (Revenue, USD Million, 2014 - 2028)

• Hospitals
  • Cardiology
  • Neurology
  • Critical Care (ICU)
  • Oncology
  • Others
• Home Care

Enteral Feeding Formulas Regional Outlook (Revenue, USD Million, 2014 - 2028)

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

List of Key Players of Enteral Feeding Formulas Market

• Abbott
• Danone SA
• Fresenius Kabi
• Nestlé
• Victus, Inc.
• Primus Pharmaceuticals, Inc.
• Meiji Holdings. Co., Ltd.
• Rickett Benckiser Group Plc.

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.

Chlorine Trifluoride Market Outlook Growth Emerging Factors On Geography, Technological Advancements And Mounting Demand Forecast To 2028

 Chlorine Trifluoride Market Growth & Trends

The global chlorine trifluoride market size is expected to reach USD 62.98 million by 2028 registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The demand for the product is expected to be driven by the rapidly growing semiconductor industry. The industry dynamics of chlorine trifluoride (CIF3) are largely influenced by application markets, such as nuclear fuel processing and semiconductor production. Rapid digitalization and automated industrial manufacturing solutions have led to high penetration of electronic gadgets and components on a global scale, which requires various chemicals for constant maintenance and cleaning purposes. In the semiconductor industry, CIF3 is extensively utilized to clean chambers of chemical vapor deposition.

The major advantage is that the process of cleaning can be carried out without dismantling the chamber walls as ClF3 doesn’t require activation by plasma. The substance also finds application as a fluorinating agent in nuclear reactor fuel processing. Germany's ClF3 gas market is majorly driven by a high concentration of major semiconductor manufacturers across the country. The country is the largest producer of electronics products globally and is one of the largest exporters of semiconductor equipment. Production of industrial electronics accounted for about 50% of the total Europe CIF3 market share in 2020, which indicates noteworthy growth prospects for ClF3. Increasing demand for the gas, which results in a substantial decrease in emissions, longer chamber lifespan, and quicker cleaning rates, is expected to boost the market growth over the forecast period.

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Chlorine Trifluoride Market Report Highlights

• The semiconductor manufacturing application segment is expected to witness the fastest CAGR, both in terms of volume and revenue, from 2021 to 2028 due to the increasing demand for electronic and chamber cleaning products
• The rocket propellant systems application segment accounted for a revenue share of 22.3% in 2020 owing to the constant technological advancements and high investments in space exploration activities
• In the Asia Pacific region, India is anticipated to register the fastest growth rate of 4.6%, in terms of volume, from 2021 to 2028
• This growth can be attributed to the entry of semiconductor manufacturing companies and significant government investments in space exploration activities
• South Korea accounted for a market share of 4.7% in the Asia Pacific regional market on account of the thriving semiconductor industry in the country

Chlorine Trifluoride Market Segmentation

Grand View Research has segmented the global chlorine trifluoride market on the basis of application and region:

CIF3 Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Semiconductor Manufacturing
• Nuclear Fuel Processing
• Rocket Propellant Systems
• Others

CIF3 Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Chlorine Trifluoride Market

• Central Glass
• Air Products and Chemicals, Inc.
• Air Liquide
• Advance Research Chemicals, Inc.
• Kanto Denka Kogyo Co. Ltd.
• Taiyo Nippon Sanso Corporation

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.

Genomics Market Poised to Expand at a Robust Pace Over 2028: Grand View Research Inc.

 

Genomics Market Growth & Trends

The global genomics market size is expected to reach USD 62.9 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.35% from 2021 to 2028. A rise in the demand for the solutions to catalog vast genomic information into a usable form and to utilize it in clinical workflows is expected to drive the market.

This has also led to an increase in the market competition, coupled with the development of breakthrough genomic technologies by Veritas Genetics, 23andMe, and other key players. In August 2020, Ancestry launched a new next-generation sequencing-based tool to screen genes linked to blood disorders, colon cancer, heart diseases, and breast cancer. This product, developed by Quest Diagnostics, has a better DNA analysis efficiency when compared to microarray-based testing.

Technological advancements in genetic technologies that include CGH, FISH, microarray, karyotyping, sequencing, and gene-editing tools have played a pivotal role in reshaping the healthcare systems and basic biomedical research. Furthermore, despite several ethical and legal issues, Direct-To-Consumer solutions are one of the most important innovations in the market for genomics as they help patients to perform genetic tests on their own.

The cost of reagents used in genomics has witnessed a continuous decline, which has led to an increase in adoption among small and mid-sized laboratories. However, with the introduction of novel technology and systems, the requirement for reagents is also changing.

The market has witnessed multiple product launches in 2020 owing to a rise in competition for the development of genomic testing solutions for COVID-19. For instance, in December 2020, ThermoFisher launched Applied Biosystems TaqCheck SARS-CoV-2 Fast PCR Assay—a new saliva-based PCR test for the detection of COVID-19 infection. Similarly, in June 2020, Cepheid announced the development of the Xpert Xpress SARS-CoV-2/Flu/RSV four-in-one test, which can detect these four pathogens from a single sample. This test can be run on Cepheid’s GeneXpert Systems.

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Genomics Market Report Highlights

• In the products segment, the consumables and reagents segment is expected to register the fastest CAGR over the forecast period owing to the high volume requirement for reagents and consumables for genomic analysis
• In the services segment, NGS-based services dominated the market in 2020. The use of NGS-based services for the analysis of the SARS-CoV-2 genome drives the segment. The COVID-19 Genomics UK (COG-UK) Consortium delivers rapid and large-scale whole-genome sequencing of SARS-CoV-2
• By application and technology, functional genomics led the market in 2020 due to the development of high-throughput technologies for the gene as well as protein studies. The generation of a large amount of sequencing data has led to significant developments in the segment
• Based on end use, pharmaceutical and biotechnology companies dominated the market in 2020. Pharmaceutical and biotechnology companies like Menlo Park; Grail, Inc.; and Regeneron Pharmaceutical, Inc. have initiated large-scale genomic sequencing projects in collaboration with both community health systems and academic medical centers
• Asia Pacific is expected to register the fastest growth rate from 2021 to 2028 owing to an increase in adoption and awareness about a number of genomics technologies in emerging countries, such as China and India, for the detection, treatment, and prognosis of various genetic disorders, such as diabetes and cancer

Genomics Market Segmentation

Grand View Research has segmented the global genomics market on the basis of application and technology, deliverable, end-use, and region:

Genomics Application & Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Functional Genomics
  • Real-time PCR
  • Transfection
  • SNP Analysis
  • Mutational Analysis
  • Microarray Analysis
  • RNA Interference
• Pathway Analysis
  • Microarray Analysis
  • Bead-based Analysis
  • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
  • Real-time PCR
• Biomarker Discovery
  • DNA Sequencing
  • Microarray Analysis
  • Real-time PCR
  • Mass Spectrometry
  • Statistical Analysis
  • Bioinformatics
• Epigenetics
  • Bisulfite Sequencing
  • Microarray Analysis
  • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
  • Methylated DNA Immunoprecipitation (MeDIP)
  • High Resolution Melt (HRM)
  • Chromatin Accessibility Assays
• Others

Genomics Deliverable Outlook (Revenue, USD Million, 2017 - 2028)

• Products
  • Instruments/Systems/Software
  • Consumables & Reagents
• Services
  • NGS-based Services
  • Core Genomics Services
  • Biomarker Translation Services
  • Computational Services
  • Others

Genomics End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Pharmaceutical and Biotechnology Companies
• Hospitals and Clinics
• Academic and Government Institutes
• Clinical Research
• Other End Users

Genomics Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia

List of Key Players of Genomics Market

• Thermo Fisher Scientific, Inc.
• Agilent Technologies
• Beijing Genomics Institute (BGI)
• Bio-Rad Laboratories
• Danaher Corporation
• Hoffmann-La Roche Ltd.
• GE Healthcare
• Illumina, Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• QIAGEN N.V.
• Quest diagnostics
• Myriad Genetics, Inc.
• Eppendorf AG
• Eurofins Scientific
• Color
• 23andMe, 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.

Healthcare Patent Filing Outsourcing Market To Benefit from Increased Global Uptake of 2021 By 2028

 Healthcare Patent Filing Outsourcing Market Growth & Trends

The global healthcare patent filing outsourcing market size is expected to reach USD 1.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. In-house departments of pharmaceutical and medical devices firms typically do not have sufficient time to carry out patent filing processes. Even if they do, it will be a costly option for the firms. Therefore, the market is significantly driven by the growing need for cost-saving and time-saving in patent filing processes.

The market suffered a hefty decline of 2.1% in 2020 owing to the COVID-19 pandemic. Organizations such as the European Patent Office (EPO) and the United State Patent and Trademark Office (USPTO) announced relaxations such as extension of deadlines in order to accommodate 2019 novel coronavirus related delays and interruptions. However, with the lifting of COVID-19 related shelter-in-place mandates and commercialization of the vaccine, the bottle necking of patent filing is clearing. The market is projected to recover from 2021 onwards and expand with a lucrative CAGR over the forecast period.

Growing innovations in the medical device and pharmaceutical space is driving the market. Surging number of start-ups in the healthcare industry with new and innovative products, will also boost market growth. Patent applications are majorly filed by the well-established players in the healthcare industry such as Novartis, Covidien, Boston Scientific, Medtronic, Ethicon, Olympus Corp. These companies innovate in-house, partner with high-tech companies for consumer-facing offerings, and also license technologies from universities. Such companies hold huge potential market growth across the globe.

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Healthcare Patent Filing Outsourcing Market Report Highlights

• Medtech accounted for the largest revenue share of 51.2% in 2020 owing to growing technological innovations in medical devices
• Filing and prosecution services accounted for the largest revenue share of over 50.0% in 2020 owing to complexity, cost-efficiency, and time-saving associated with outsourcing such activities
• By origin, non-resident is the fastest growing segment with a CAGR of 5.9% between 2021 to 2028 as national patent in one country might not prevent copying of a product or technology in a different country
• Asia pacific region contributed for the largest share of 65.5% owing to high number of patents filed in the region coupled with availability of low cost outsourcing services in the region. Furthermore, the off-shore model is highly adopted in this industry, where such offices are majorly placed in countries such as India, Japan, Korea, Malaysia, Singapore and others

Healthcare Patent Filing Outsourcing Market Segmentation

Grand View Research has segmented the global healthcare patent filing outsourcing market on the basis of domain, service, origin, and region:

Healthcare Patent Filing Outsourcing Domain Outlook (Revenue, USD Million, 2016 - 2028)

• Medtech
  • Assistive Care devices
  • Consumables and Disposables
  • Diagnosis and Imaging Devices
  • Drug Delivery Devices
  • Surgical Devices
  • Wearable Medical Devices
• Pharmaceutical

Healthcare Patent Filing Outsourcing Service Outlook (Revenue, USD Million, 2016 - 2028)

• Pre-filing
• Filing & Prosecution
• Post Grant

Healthcare Patent Filing Outsourcing Origin Outlook (Revenue, USD Million, 2016 - 2028)

• Resident
• Non-resident

Healthcare Patent Filing Outsourcing Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Healthcare Patent Filing Outsourcing Market

• Clarivate
• ipMetrix Consulting Group
• CRJ IPR Services LLP
• Patent Outsourcing Limited
• Synoptic Intellectual Patents (P) Limited
• Dennemeyer
• Powell Gilbert
• Bristows
• Hoyng Rokh Monegier
• Carpmaels & Ransford Services Limited

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.

Fertilizer Catalyst Market Growth in the Coming Years

 Fertilizer Catalyst Market Growth & Trends

The global fertilizer catalyst market size is expected to reach USD 3.3 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.4% from 2021 to 2027. The market is expected to be driven by the growing application in the production of fertilizers and the need for improving process efficiencies.

The demand for ammonia and hydrogen gas in the agricultural and industrial sectors is rising, thereby positively impacting the market growth. Moreover, favorable regulations and subsidies offered by the government have led to an increase in the adoption of catalysts. Nickel-based catalyst is the most significant product in the market space on account of its high efficiency. They are used in the Ostwald process of ammonia production. North America and the Asia Pacific collectively are anticipated to be the key markets for nickel-based catalysts worldwide. The demand for nickel-based catalysts is anticipated to grow on the account of their affordability and the ability to eliminate methane from the process.

Canada, South Africa, and Russia are likely to emerge as the major manufacturing locations for fertilizer catalysts due to the availability of raw materials. These countries are marked with the presence of large volumes of precious metal deposits. The major advantage associated with these countries is the availability of raw materials. Raw material procurement cost is the major cost incurred by a large number of catalyst manufacturers. The countries are also major exporters of fertilizers globally owing to the access to raw materials and the presence of large manufacturing facilities.

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Fertilizer Catalyst Market Report Highlights

• The nickel-based product segment is expected to expand at the fastest CAGR of 2.2%, in terms of volume, from 2021 to 2027 due to its application as a substitute for iron-based products and the increasing demand for fertilizers
• The rhodium-based product segment is expected to witness considerable growth in the years to come owing to the growing demand for rhodium-based catalysts in hydrogenation reactions
• The urea production process segment is expected to witness significant growth over the forecast period owing to the growing demand for urea-based fertilizers
• In the Asia Pacific region, India is anticipated to exhibit the fastest growth rate of 2.6%, in terms of volume, from 2021 to 2027 owing to the rising demand for nitrogenous fertilizers
• In October 2019, Albemarle Corporation and ExxonMobil together created a platform called “Galexia” for the refining industry to provide a transformative hydroprocessing suite of catalysts and service solutions. This platform is aimed at enhancing the company’s business operations in order to cater to the customers’ demand in an effective manner

Fertilizer Catalyst Market Segmentation

Grand View Research has segmented the global fertilizer catalyst market on the basis of product, process, and region:

Fertilizer Catalyst Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Iron-based
• Vanadium based
• Platinum-based
• Rhodium based
• Nickel-based
• Palladium based
• Ruthenium based
• Zinc based
• Cobalt-based
• Molybdenum based
• Chromium-based
• Copper Chromite

Fertilizer Catalyst Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Haber-Bosch Process
• Contact Process
• Nitric Acid Production
• Potassium Fertilizer Production
• Urea Production

Fertilizer Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

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

List of Key Players of Fertilizer Catalyst Market

• Süd-Chemie India Pvt. Ltd.
• Thyssenkrupp AG
• BASF SE
• LKAB Minerals AB
• Albemarle Corporation
• Unicat Catalyst Technologies, Inc.
• Clariant AG
• Johnson Matthey
• Haldor Topsoe
• Quality Magnetite

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.

Civil Engineering Market Poised to Garner Maximum Revenues During 2021– 2028

 Civil Engineering Market Growth & Trends

The global civil engineering market size is expected to reach USD 12.05 trillion by 2028 registering a CAGR of 5.7% over the forecast period, according to a new report by Grand View Research, Inc. The rapidly growing residential construction sector on account of the rising population across the globe is expected to drive the growth of this market during the forecast period.

Various government initiatives for infrastructure development, especially in the Asia Pacific, Europe, and Africa regions, are expected to drive market growth. In addition, increasing consumer disposable income levels in emerging economies of Asia Pacific, such as India and China, are expected to drive the real estate segment, thereby benefiting the overall market growth.

Strict regulations in the Europe and North America regions, regarding VOC emissions during the construction process, are expected to boost the demand for precast/prefabricated construction products. The introduction of new materials, such as construction additives and eco-friendly building materials, is expected to create lucrative opportunities for market participants over the forecast period.

The strong presence of prominent civil engineering companies in the market, rise in demand for infrastructural development, need for transportation facilities, and other governmental interests in the engineering investment are some of the key factors that are expected to propel the growth of the market over the forecast period.

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Civil Engineering Market Report Highlights

• Construction services is expected to grow at a CAGR of 5.5% from 2021 to 2028, which can be attributed to recent advances in the construction sector that are expected to revolutionize the industry and boost the segment growth
• Real estate emerged as the dominant application segment in 2020 accounting for over 41% of global revenue share owing to high demand for residential properties as a result of rapid urbanization and increased consumer spending power
• The government segment accounted for the largest revenue share of the global market in 2020 and is projected to retain its dominant position from 2021 to 2028 on account of the rising focus on infrastructure development across the globe
• Middle East is expected to witness the fastest CAGR over the forecast period owing to growth in the residential construction sector along with the rise in consumer disposable income
• Key industry participants are focusing on product portfolio and geographical expansions through mergers & acquisitions
• For instance, Stantec acquired Wenck in Dec 2020. The acquisition is anticipated to expand the company’s presence in the U.S.
• Midwest, thereby providing growth opportunities in the energy, infrastructure, mining, manufacturing, and transportation sectors

Civil Engineering Market Segmentation

Grand View Research has segmented the global civil engineering market on the basis of services, application, customers, and region:

Civil Engineering Services Outlook (Revenue, USD Billion, 2017 - 2028)

• Planning & Design
• Construction
• Maintenance
• Others

Civil Engineering Application Outlook (Revenue, USD Billion, 2017 - 2028)

• Real Estate
• Infrastructure
• Industrial

Civil Engineering Customers Outlook (Revenue, USD Billion, 2017 - 2028)

• Government
• Private
• Others

Civil Engineering Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • Russia
  • UK.
• Asia Pacific
  • China
  • India
  • Australia
  • Indonesia
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar

List of Key Players of Civil Engineering Market

• Aecom
• Amec Foster Wheeler plc
• United States Army Corps of Engineers
• SNC-Lavalin
• Fluor Corp.
• HDR, Inc.
• Tetra Tech, Inc.
• Stantec, 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.

In-vitro Fertilization Market is Estimated to Reach a Valuation of $33.9 Billion by 2028

 

In-vitro Fertilization Market Growth & Trends

The global in-vitro fertilization market size is expected to reach USD 33.9 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The growth of the market is driven by the continuous efforts of the market players, government initiatives to make available better reimbursement policies, and an increase in the incidence of infertility due to lifestyle changes. Expansion of fertility procedures such as ICSI for treating infertility is expected to positively impact market growth in the near future.

Moreover, the availability of genomic testing facilities that enable the prevention of the transfer of genetic disorders during In Vitro Fertilization (IVF) is further expected to drive the market. The insurance providers are providing coverage to IVF procedures owing to an increase in the number of IVF treatments. This has led to competitive pricing and has moderated the IVF treatment costs as the procedure has been a successfully practiced technology, driving the market with more treatment automation and standardization.

A decline in the Total Fertility Rate (TFR) is a result of factors such as a behavioral shift in society. These factors include a shift from rural to urban societies, the increased age of the first birth, an increasing number of women in the labor force, postponement of marriage, and lower marriage rates.

The in-person fertility treatments in U.S. and Canada were suspended in March 2020 by the Canadian Fertility and Andrology Society and American Society of Reproductive Medicine due to the COVID-19. However, treatment is resuming in many countries with ease of COVID-19 restrictions, including the developing nations. Medicover Fertility, IVF center in India, in July 2020 announced to resume the IVF procedures after initial COVID risk assessment.

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In-vitro Fertilization Market Report Highlights

• Culture media dominated the market for IVF in terms of revenue in 2020. A number of research activities are being undertaken to improve the efficiency of culture media. For instance, Vitrolife showcased its research on SpermFreeze solution at the American Society for Reproductive Medicine (ASRM) that established the effectiveness of its solution for sperm recovery and sperm-hyaluronic acid-binding
• Europe dominated the market for IVF in 2020. Adoption of advanced technologies such as time-lapse microscopy by the clinics, availability of affordable treatment, and adherence to medical standards contribute to market growth in the region
• The APAC region is expected to witness increased demand for IVF owing to fertility tourism and the availability of funding for the treatment. In Japan, eligible couples can apply for co-funding for a maximum of three cycles with USD 1,920 for each cycle
• The developing countries in Asia Pacific are undertaking legal reforms to promote treatment adoption in the region. For instance, in February 2020, the Government of India approved a bill for the regulation of clinics offering reproduction assistance services, including IVF, artificial insemination, and surrogacy
• In January 2020, Merck received Marketing Authorization (MA) from the European Commission (EC) for its recombinant human follicle-stimulating hormone, GONAL-f (follitropin alfa) 150 IU pen

In-vitro Fertilization Market Segmentation

Grand View Research has segmented the global in-vitro fertilization market on the basis of instrument, procedure type, end-use, and region:

IVF Instrument Outlook (Revenue, USD Million, 2016 - 2028)

• Disposable Devices
• Culture Media
• Capital Equipment

IVF Procedure Type Outlook (Revenue, USD Million, 2016 - 2028)

• Fresh Donor
• Frozen Donor
• Fresh Non-donor
• Frozen Non-donor

IVF End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Fertility Clinics
• Hospitals & Others Setting

IVF Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK.
  • Belgium
  • Netherlands
  • Switzerland
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • South Africa

List of Key Players of In-vitro Fertilization (IVF) Market

• OvaScience
• EMD Serono Inc.
• Vitrolife AB
• Irvine Scientific
• Cook Medical Inc.
• Cooper Surgical Inc.
• Genea Biomedx
• Thermo Fisher Scientific Inc.
• Progyny, Inc.
• Boston IVF

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.

Textile Market is Expected to Reach Approximately $1412.5 Billion by 2028

 

Textile Market Growth & Trends

The global textile market size is anticipated to reach USD 1412.5 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028. Rising consumer awareness coupled with fast pace changing trends in the fashion industry is projected to drive the market.

The rise in the e-commerce platforms that support sales and distribution of different types of products manufactured by the industry is expected to drive the demand. In addition, stringent government regulations to ensure labor safety is compelling the demand for personal protective clothing that requires wool or treated cotton as raw material, which is fueling the market growth.

Increasing demand for medical textiles in the healthcare industry due to the rise in awareness towards health and hygiene is adding growth prospects to the industry. Moreover, increased concern towards the environment is propelling the demand for sustainable and natural-fibers such as cotton, hemp, linen, silk, and others, which, in turn, is adding growth prospects to the market.

The rising adoption of technological components in fabrics to monitor external stimuli and translate them into data is propelling the growth of smart textiles. These products have a wide range of applications in fashion, entertainment, transportation, medical, and other industries, which are expected to open new technological avenues required in the production of textile products over the forecast period.

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Textile Market Report Highlights

• Cotton raw-material-based textile products are expected to witness a CAGR of 4.4% over the forecast period on account of their high production and availability across various prominent regions including North America, Europe, and Asia Pacific
• In 2020, fashion emerged as the largest application segment with a revenue share of 74.3% and is likely to ascend at a significant rate during the forecast period owing to rapidly changing fashion trends, coupled with the demand for high-quality apparel required in sports activities
• In 2020, Asia Pacific emerged as the largest market that accounted for over 47.0% of the total revenue, owing to the presence of highly populated economies such as China, India, Australia, and Japan
• In North America, the natural-fibers product segment accounted for revenue share equivalent to USD 57.7 billion in 2020 and is anticipated to gain higher shares in the upcoming period on account of rising demand from the fashion, sports, and apparel industries
• Prominent players in the market are establishing business units in the raw-material producing regions for easy raw-material procurement and economical labor. Moreover, government support and policies such as trade agreements and investment within the countries are expected to influence the market

Textile Market Segmentation

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

Textile Raw Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Cotton
• Chemical
• Wool
• Silk
• Others

Textile Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Natural-Fibers
• Polyesters
• Nylon
• Others

Textile Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Household
  • Bedding
  • Kitchen
  • Upholstery
  • Towel
  • Others
• Technical
  • Construction
  • Transport
  • Medical
  • Protective
• Fashion & clothing
  • Apparel
  • Ties & Clothing accessories
  • Handbags
  • Others
• Others

Textile Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK.
  • Italy
  • Turkey
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa (MEA)
  • Saudi Arabia
  • Iran

List of Key Players of Textile Market

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

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.

Sports Technology Market Set to Surge Significantly During 2021-2028

 Sports Technology Market Growth & Trends

The global sports technology market size is expected to reach USD 36.20 billion by 2028, registering a CAGR of 16.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth is attributed to the technological advancements that have improved the accuracy, engagement, and experience of both athletes and spectators. The technology is empowering a data-driven sports culture and providing a next-generation viewing experience.

The growing popularity of sports has triggered the need for improving operational efficiency and enhancing security in stadiums. Connected stadium technology can help in realizing a smart stadium leveraging crowd management solutions and advanced parking services, subsequently delivering a next-generation experience. A smart stadium can also provide wireless connectivity across the stadium for spectators, guests, vendors, and contractors.

Advanced technology has become more resilient and less burdensome, paving the way for new opportunities in athletics. Wearable technology is revolutionizing training by providing players’ real-time performance metrics, such as speed, distance covered, heart rate, and hydration level. Coaches and trainers can efficiently use this intricate data to design more effective training sessions and game tactics. For instance, a GPS player-tracking system can be used in soccer to record substantial data, such as distance, speed, pulse rate, acceleration rate, and impact from tackles, in real-time and can be used to prepare team strategies, assign players' positions in the game, and make substitutions.

Innovative systems based on the latest technologies are being used in most professional sporting events to help referees in making the right call. For instance, basketball referee uses instant replay, the third umpire in cricket has full access to the TV replays for certain situations, such as catch, run out, and boundaries, Video Assistance Referee (VAR) in soccer for decision review, and hawk-eye technology in tennis for ball tracking. Several leading sporting leagues have also started adopting these technologies in various forms.

North America is expected to exhibit strong growth over the forecast period. The U.S. is home to several leagues, such as National Football League (NFL), National Basketball Association (NBA), National Hockey League (NHL), and Major League Baseball (MLB). Leading players, such as Cisco Systems, Inc., IBM Corp., and SAP SE, also have a strong presence in North America. At the same time, many industry participants in the U.S. are actively reshaping their revenue-generation models, particularly to offset the setback they received from the Covid-19 pandemic, which is expected to contribute to the growth of the regional market.

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Sports Technology Market Report Highlights

• The analytics & statistics segment is expected to grow at a substantial CAGR over the forecast period due to the rising demand for on-field analytics and data-driven decision-making
• The Esports segment is expected to register the highest CAGR over the forecast period. Esports has gained traction, especially during the lockdowns implemented in various nations to control the spread of the coronavirus
• Increasing Esports penetration, a growing number of live streaming of games, and heavy investments are expected to propel the segment growth
• Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of over 18% during the forecast period owing to the rising adoption of internet of things (IoT), smart devices, and social media analytics in different sports

Sports Technology Market Segmentation

Grand View Research has segmented the global sports technology market on the basis of technology, sports, and region:

Sports Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Devices
  • Wearables
  • Digital Signage
  • Camera
• Smart Stadium
  • Software
    • Stadium & Public Security
    • Building Automation
    • Event Management
    • Others
  • Services
• Analytics & Statistics
• Esports
  • Tickets & Merchandise
  • Sponsorship & Advertisement
  • Others

Sports Technology Sports Outlook (Revenue, USD Million, 2017 - 2028)

• American Football/Rugby
• Baseball
• Basketball
• Cricket
• Golf
• Ice Hockey
• Tennis
• Soccer
• Others

Sports Technology Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of the Asia Pacific
• South America
  • Brazil
  • Argentina
• Middle East and Africa (MEA)

List of Key Players in the Sports Technology Market

• Apple, Inc.
• ChyronHego Corp.
• Cisco Systems, Inc.
• HCL Technologies Ltd.
• IBM Corp.
• Infosys Ltd.
• Modern Times Group MTG
• Oracle
• Panasonic Corp.
• SAP SE
• Sony Corp.
• Stats LLC
• Telefonaktiebolaget LM Ericsson

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.

Optical Character Recognition Market Significant Profits Estimated to be Generated by 2028: Grand View Research Inc.

 

OCR Market Growth & Trends

The global optical character recognition market size is expected to reach USD 26.31 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 16.7% from 2021 to 2028. Digitalization plays a critical role in changing the way organizations operate. It has helped companies improve efficiency of their business processes. Enterprises are investing large amounts in technologies that can help them digitalize their work process and increase productivity. Since data is a critical element for an organization, adoption of technologies such as OCR, which enables users to convert text data in different types of documents and images into editable or accessible formats, has increased. OCR solutions are integrated with a wide range of technologies such as robotic process automation and Artificial Intelligence (AI) to enhance their capabilities.

Integration of artificial intelligence with optical character recognition has helped companies in leveraging technological capabilities of artificial intelligence such as deep learning and multi-level analysis for the more efficient processing of documents, texts, and other data in a way similar to that of humans. These advanced technologies also help to address inaccuracies that occur in OCR, thereby providing streamlined fault management. This, in turn, helps reduce costs of processing documents and increase efficiency within the organization. Furthermore, increasing penetration of optical character recognition in banks and financial institutions has bolstered the OCR market growth for B2B end-users. For instance, IntSig Information Co., Ltd. Corporation’s CamCard solution for bank card recognition is being used by over 80% of the Chinese banks and security companies.

The OCR market can be described as a highly competitive market. The market vendors are pursuing various strategic initiatives to gain a competitive edge in the market. For instance, in January 2020, Druid Enterprise Chatbots, a virtual assistants developer company, partnered with Vonage, a business cloud communications company. This partnership is anticipated to enable communication through WhatsApp messenger in the chatbots. It will incorporate AI technologies like machine learning, NLP, and OCR, among other AI technologies.

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OCR Market Report Highlights

• Significant increase in investment for advancement of OCR in startup companies is expected to remain one of the key driving factors
• Emergence of new technologies such as computer vision, machine learning, and artificial intelligence is unfolding new opportunities for industry growth
• The integration of advanced technology in OCR technology has significantly contributed to enhancing data management and data capture. Further, continuous advancements in OCR technology are expected to contribute to the growth of the OCR market positively
• Factors, including the rapid economic growth of countries, such as China and India, rising adoption of smartphones, and the developing e-commerce sector are anticipated to further fuel the Asia Pacific regional market growth

OCR Market Segmentation

Grand View Research has segmented the global optical character recognition (OCR) market based on type, vertical, end use, and region:

OCR Type Outlook (Revenue, USD Million, 2017 - 2028)

• Software
  • Desktop-Based OCR
  • Mobile-Based OCR
  • Cloud-Based OCR
    • Private
    • Public 
  • Others 
• Services
  • Consulting
  • Outsourcing
  • Implementation & Integration

OCR Vertical Outlook (Revenue, USD Million, 2017 - 2028)

• Retail
• BFSI
• Government
• Education
• Transport and Logistics
• Healthcare
• IT & Telecom
• Manufacturing
• Others

OCR End-use Outlook (Revenue, USD Million, 2017 - 2028)

• B2B
• B2C

OCR Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE

List of Key Players of Optical Character Recognition Market

• ABBYY
• Adobe
• Anyline GmbH
• ATAPY Software
• Captricity Inc.
• Creaceed S.P.R.L.
• CVISION Technologies, Inc.
• Exper-OCR, Inc.
• Google LLC
• International Business Machines Corporation
• IntSig Information Co.,Ltd. Corporation
• IRIS S.A.
• LEAD Technologies, Inc.
• Microsoft
• NAVER Corp.
• Nuance Communications, Inc.
• Open Text Corporation

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.

U.S. Electric Vehicle Charging Infrastructure Market Expected to Deliver Dynamic Progression until By 2028

 U.S. Electric Vehicle Charging Infrastructure Market Growth & Trends

The U.S. electric vehicle charging infrastructure market size is expected to reach USD 28.39 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 38.9% during the forecast period. Government policies and initiatives favoring the adoption of electric vehicles are also driving the demand for electric vehicle charging stations in the U.S. Moreover, government agencies are also signing long-term contracts with EVCI manufacturers, such as Siemens, Tesla, Chargepoint, among others for the development of bus and car charging stations on highways.

Easy integration with smart grid infrastructure and bi-directional charging capability is anticipated to drive the growth of the CHAdeMO segment over the forecast period. Moreover, research and development initiatives and investments by electric vehicle manufacturers such as Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation for developing DC fast charging networks to support long-range travel is expected to drive the demand for CHAdeMO in the U.S. market.

In the wake of rising demand for sustainable and cost-effective mobility, various governments are emphasizing the development of ‘electric highways’. Level 2 and Level 3 DC charging stations with a power output in the range of 100 kW to 200 kW are being mostly used for highway charging station projects. Technologies, such as Radio Frequency Identification (RFID) and Near-Field Communication (NFC), have enabled the installation of interactive, kiosk-based, and self-operated charging stations within highway charging stations. Several private organizations are keen on investing in the development of electric vehicle charging stations along the highways. All these factors are driving the demand for highway charging stations.

Various government agencies are also partnering with each other on the development of highway electric charging stations. For instance, in the U.S., the Washington State Department of Transportation has partnered with the Oregon Department of Transportation to construct the West Coast Electric Highway (WCEH) that consists of 57 electric vehicle charging stations across Oregon and Washington.

As a part of the global EVCI expansion strategy, various EV charger manufacturers are adopting a collaborative model under which they are partnering with EV vehicle manufacturers and other businesses, such as hotels & retail chains, and utility service providers to deploy EV charging stations. At the same time, major EVCI manufacturers are working on integrating ultra-fast charging, autonomous park and charge, and wireless charging technologies to enhance the operational functionality of the electric vehicle, increase consumer convenience and minimize the charging time. Thus, the increased efforts of car manufacturers to make enhancements in electric vehicle charging infrastructure is driving the market growth. Further, Electric vehicles are experiencing a smaller dip in their sales compared to traditional automobiles due to the effects of a shrinking economy in response to the global coronavirus pandemic. This is expected to adversely impact the electric vehicle charging infrastructure market.

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U.S. Electric Vehicle Charging Infrastructure Market Report Highlights

• Technological advancements in battery technology and the growing impetus on autonomous vehicles are driving the U.S. market growth. Eco-friendly benefits offered by EVs help increase their sales
• Consumers’ preference for using electric vehicles for long-distance travel and increasing deployment of electric vehicle charging infrastructure by corporates is anticipated to drive the U.S. demand for fast chargers over the forecast period
• Easy integration with smart grid infrastructure and bi-directional charging capability is anticipated to drive the growth of the CHAdeMO segment over the forecast period
• North America is a leading market in terms of the number of electric vehicles to fuel-driven vehicles in the region. New York is emerging as a dominant state in the adoption of electric vehicles, which is expected to grow over the forecast period

U.S. Electric Vehicle Charging Infrastructure Market Segmentation

Grand View Research has segmented the U.S. electric vehicle charging infrastructure market based on charger type, connector, and application:

U.S. Electric Vehicle Charging Infrastructure Charger Type Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Slow Charger
• Fast Charger

U.S. Electric Vehicle Charging Infrastructure Connector Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• CHAdeMO
• Combined Charging System
• Others

U.S. Electric Vehicle Charging Infrastructure Application Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Residential
• Commercial

List of Key Players of U.S. Electric Vehicle Charging Infrastructure Market

• ABB
• BTC Power
• Delta Electronics, Inc
• Webasto Group
• ChargePoint, Inc.
• AeroVironment Inc.
• General Electric Company
• Leviton Manufacturing Co., Inc.
• SemaConnect, Inc.
• Tesla, Inc.
• ClipperCreek, 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.

U.S. E-cigarette & Vape Market to Incur Meteoric Growth During 2021 to 2028: Grand View Research Inc.

 U.S. E-cigarette & Vape Market Growth & Trends

The U.S. e-cigarette & vape market size is expected to reach USD 40.25 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 27.3% from 2021 to 2028. Various factors, such as the rapid growth of vape shops in the U.S. and the increasing popularity of e-cigarettes among the youth population, is expected to drive the market growth over the forecast period. E-cigarettes and vape mods are being increasingly used by users as a substitute for smoking traditional cigarettes.

Due to the increasing health concern over the usage of conventional tobacco cigarettes, the market is expected to witness significant growth. The U.S. owns the widest e-cigarette and vape mod distribution network for sale. However, the new taxation rules among the states of the country are expected to act as potential threats to market growth during the forecast period.

Users across the globe are focusing on using personalized vaporizers. These vaporizers allow a high degree of customization by which the user can keep track of the battery strength, amount of vapor, and amount of nicotine consumed. The rapid surge in the number of available flavors that can be used to fill the cartridge is expected to drive the market growth over the forecast period.

In the U.S., the increasing usage of flavored electronic cigarettes among high school students is expected to propel the market growth. The cases of tobacco-related cancer in the U.S. are increasing. This, as a result, users are looking for alternatives to tobacco smoking, thereby driving the market growth.

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U.S. E-cigarette & Vape Market Report Highlights

• The modular devices segment is expected to emerge as the fastest-growing segment over the forecast period as these devices are known for their high vapor production. Moreover, these devices can be constantly refilled by users
• An increasing shift in consumer preferences from conventional smoking to e-cigarette and e-liquids is expected to drive the e-liquid segment growth over the forecast period. To make sure that e-liquids are harmless for consumption in e-cigarettes, e-liquid manufacturers are collaborating with research scientists to improve on the safety standards
• The online distribution channel segment is expected to emerge as the fastest-growing segment over the forecast period. Numerous players across the globe are planning and executing online advertising campaigns, which catch the attention of youth since e-cigarette and vapeare growing as a trend in the extensive social media influencer community

U.S. E-cigarette & Vape Market Segmentation

Grand View Research has segmented the U.S. e-cigarette and vape market based on product, component, and distribution channel:

U.S. E-cigarette & Vape Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)

• Disposable
• Rechargeable
• Modular Devices

U.S. E-cigarette & Vape Component Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)

• Atomizer
• Vape Mod
• Cartomizer
• E-liquid

U.S. E-cigarette & Vape Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Online
• Retail Store
  • Convenience Stores
  • Drug Stores
  • News Stands
  • Tobacconist
  • Specialty E-cigarette Stores

List of Key Players of U.S. E-cigarette & Vape Market

• Reynolds American Inc.
• Imperial Brands
• Altria Group, Inc.
• Japan Tobacco Inc.
• Philip Morris International
• International Vapor Group
• British American Tobacco
• Nicquid
• Shenzhen IVPS Technology Co., Ltd.
• Shenzhen KangerTech Technology Co., Ltd.

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.

Digital Payment Market to Observe Strong Development by 2028

 Digital Payment Market Growth & Trends

The global digital payment market size is expected to reach USD 236.10 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 19.4% from 2021 to 2028. The growth can be attributed to the growing volume of non-cash transactions and a rise in the fintech sector's technological developments. Various fintech companies and banks are making efforts to improve their digital offerings to meet the changing needs of customers. For instance, in January 2021, Mogo Inc., a financial technology & digital payment company, announced the shareholder's approval for the acquisition of Carta, a digital payment company. This acquisition is expected to help the former company in strengthening its presence in the market.

Biometric authentication in digital payments is expected to gain momentum in the coming years. It is a verification method that involves the biological characteristics of the person. The verifications include facial recognition, fingerprinting scanning, heartbeat analysis, and vein mapping. According to Payments Industry Intelligence, biometric authentication solutions are expected to be used to secure USD 2.5 trillion worth of mobile payment transactions by 2024.

The increase in the adoption of new technologies such as self-checkout systems in the retail industry is expected to drive market growth. In recent days, various companies are making efforts to deploy self-checkout systems in retail stores. For instance, in June 2020, Walmart, a retail company, announced the testing of its self-checkout retail stores at multiple locations in Arkansas, Fayetteville, during the pandemic. These stores will replace the traditional cashier checkout lanes with self-checkout systems.

The COVID-19 pandemic is anticipated to impact the market growth favorably in the near future. The pandemic has led to an increase in the use of mobile-based payment solutions and online sales, which are some of the major factors driving the demand for digital payment solutions globally. According to the study conducted by Accenture, transactions worth USD 7 trillion are expected to shift from cash to card and digital payments by 2023.

Request a free sample copy or view report summary: Digital Payment Market Report

Digital Payment Market Report Highlights

• In terms of deployment, the on-premise segment dominated the market in 2020. The on-premise deployment of digital payment solutions facilities secured transactions
• In terms of enterprise size, the large enterprise segment dominated the market in 2020. 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
• In terms of end-use, the BFSI segment dominated the market in 2020. The continued digitalization of banks and other financial institutions is anticipated to drive the growth of the BFSI segment
• The increasing adoption of digital payment solutions in emerging economies such as China and India is expected to create growth opportunities for the market players in the Asia Pacific region over the forecast period

Digital Payment Market Segmentation

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

Digital Payment Solution Outlook (Revenue, USD Billion, 2016 - 2028)

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

Digital Payment Mode of Payment Outlook (Revenue, USD Billion, 2016 - 2028)

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

Digital Payment Deployment Outlook (Revenue, USD Billion, 2016 - 2028)

• Cloud
• On-premise

Digital Payment Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)

• Large Enterprises
• Small & Medium Enterprises

Digital Payment End-use Outlook (Revenue, USD Billion, 2016 - 2028)

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

Digital Payment Regional Outlook (Revenue, USD Billion, 2016 - 2028)

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

List of Key Players in the 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

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.