Laboratory Informatics Market Expected to Witness a Sustainable Growth over 2028: Grand View Research Inc.

 Laboratory Informatics Market Growth & Trends

The global laboratory informatics market size is expected to reach USD 4.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028. An increase in the requirement for life sciences companies to comply with regulatory demands has further promoted the incorporation of Laboratory Information Management Systems (LIMS) as it helps professionals understand and fulfill complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to drive the market over the forecast period.

The rising adoption of LIMS solutions by biobanks coupled with the increasing demand for integrated healthcare solutions is the key contributing factor for the growth of the market over the forecast period. In addition, growing awareness levels amongst the end-use segments and the technological evolution of LIMS solutions are anticipated to fuel the growth in the coming years.

The outbreak of the coronavirus has resulted in a shutdown of laboratories around the world. Movement restrictions have created a logistical problem for players, results in shortages of on-premise delivery of products. However, with high demand for COVID-19 testing scaled up laboratory operations and faced new challenges like administration of huge volumes of patient specimens and test data. To accelerate the high demand COVID-19 tests, a LIMS plays an essential role in labs which led to the implementation of the product.

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Laboratory Informatics Market Report Highlights

• LIMS dominated the market on the basis of technology in 2020 owing to the associated benefits such as data tracking and management with fewer errors. Moreover, demand for fully integrated LIMS platforms is growing in accordance with the requirements of life sciences and research industries to reduce the incidence of errors in data management and qualitative analysis of research information. The above-mentioned factors are expected to drive the segment
• On the other hand, demand for upgraded laboratory informatics technologies such as electronic lab notebook and Enterprise Content Management (ECM) solutions amongst research professionals and industry players, respectively, is expected to increase over the forecast period. Associated benefits of ECM, such as database management of large unstructured or structured medical information and supportive government initiatives, are expected to contribute to its lucrative growth over the forecast period
• Cloud-based services are anticipated to show lucrative CAGR at 5.3% over the forecast period due to their growing acceptance by industry participants. The introduction of technologically advanced software solutions and their widespread adoption by healthcare IT providers are expected to impede the growth of the on-premise segment over the forecast period. Furthermore, advantages associated with its usage, including remote access to information, reduced operational cost, and real-time data tracking, are contributing toward their rising demand
• North America dominated the market and accounted for a revenue share of around 45.4% in 2020, which is attributable to supportive government initiatives promoting the adoption of LIMS. On the other hand, in Asia Pacific, the market is likely to exhibit profitable growth due to increasing R&D expenditure deployed by the public and private sectors coupled with increasing awareness levels pertaining to LIMS

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Laboratory Informatics Market Segmentation

Grand View Research has segmented the global laboratory informatics market by product, delivery mode, component, end-use, and region:

Laboratory Informatics Product Outlook (Revenue, USD Million, 2016 - 2028)

• LIMS
• ELN
• SDMS
• LES
• EDC & CDMS
• CDS
• ECM

Laboratory Informatics Delivery Mode Outlook (Revenue, USD Million, 2016 - 2028)

• On-Premise
• Web-hosted
• Cloud-based

Laboratory Informatics Component Outlook (Revenue, USD Million, 2016 - 2028)

• Software
• Services

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

• Life Science Companies
  • Pharmaceutical and Biotechnology Companies
  • Biobanks/Biorepositories
  • Contract Services Organizations
  • Molecular Diagnostics & ClinicalResearch Laboratories
  • Academic Research Institutes
• CROs
• Chemical industry
• Food & Beverage and Agriculture Industries
• Environmental Testing Laboratories
• Petrochemical Refineries and Oil & Gas Industry
• Other Industries (Forensics and Metal & Mining Laboratories)

Laboratory Informatics Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Laboratory Informatics Market

• Thermo Fisher Scientific, Inc.
• Core Informatics
• LabWare
• PerkinElmer, Inc.
• LabVantage Solutions, Inc.
• LabLynx, Inc.
• Agilent Technologies
• ID Business Solutions Ltd.
• McKesson Corporation
• Waters Corporation
• Abbott Informatics

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.

Polyurethane Market Forecasted to Grow at Steady Pace During 2021-2028: Grand View Research Inc.

 Polyurethane Market Growth & Trends

The global polyurethane market size is expected to reach USD 94.59 billion by 2028, registering a CAGR of 3.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for lightweight and high-performance composites from the automotive industry is driving the growth of the market. Polyurethane (PU) is widely used in automotive applications, such as seating, instrument panels, exterior panels, engine encapsulation, and cables & wires, as an alternative to metals. The utilization of Thermoplastic Polyurethane (TPU) in auto components can drastically decrease the overall weight of automobiles, which, in turn, limits fuel consumption.

Growing Corporate Average Fuel Economy (CAFE) has forced automobile manufacturers to seek innovative ways to limit fuel consumption. The low weight of vehicles is a crucial factor in these regulations due to the inherent correlation between mass and fuel consumption. Also, the reduction in mass at unhinged points facilitates reduction in noise & vibration and smoothens the ride. Auto manufacturers, for enhancing the performance of automobiles and following the trend of lightweight vehicles, are mainly focusing on auto components, which are manufactured from various types of plastics.

For improving fuel efficiency in vehicles, manufacturers have shifted toward using plastics in automotive components, such as instrument panels, exterior panels, automotive interiors, and engine cabins. This trend, coupled with growing automotive production, is expected to further drive the demand for polyurethanes in automotive applications, such as exterior body panels, engine encapsulation, and interior panels.

However, the Covid-19 outbreak has immensely affected the production of automobiles and disrupted the value chain of the automotive industry. Slowdown or halt in manufacturing activities and weak consumer sentiments are expected to affect the product demand in automotive applications.

The electronics & appliances application segment is anticipated to progress at a substantial growth rate over the forecast period. Polyurethane is used in the manufacturing of printed circuit boards, electronic housings, protective covers, and others. It offers lower unit costs and faster production while providing excellent general performance in electronic devices. Increasing importance for encapsulation of electronic components, such as circuits and sensors, is a major factor driving the product demand in electronics & appliances.

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Polyurethane Market Report Highlights

• The global market was valued at USD 70.67 billion in 2020 and is estimated to grow at a CAGR of 3.8% from 2021 to 2028
• In terms of revenue, rigid foam accounted for a prominent share in 2020 and is further expected to witness steady growth over the forecast period
• The construction application segment dominated the global market and accounted for a revenue share of more than 26% in 2020
• Asia Pacific accounted for more than 44% share of the global revenue. The robust manufacturing base of the automotive and electronics & appliances industries across China, India, South Korea, and Japan is anticipated to augment regional market growth in the near future
• Various strategic initiatives were recorded over the past few years to boost the market growth
• For instance, in January 2020, BASF SE announced a capacity expansion of its water-based PU dispersion by 30% located in Castellbisbal, Spain. This expansion will enable the company to cater to the growing product demand from the packaging, building & construction, and automotive industries

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Polyurethane Market Segmentation

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

PU Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Rigid Foam
• Flexible Foam
• Coatings
• Adhesives & Sealants
• Elastomers
• Others

PU Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Furniture & Interiors
• Construction
• Electronics & Appliances
• Automotive
• Footwear
• Packaging
• Others

PU Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Polyurethane (PU) Market

• Dow, Inc.
• BASF SE
• Covestro AG
• Huntsman International LLC
• Eastman Chemical Company
• Mitsui & Co. Plastics Ltd.
• Mitsubishi Chemical Corp.
• Recticel NV/SA
• Woodbridge
• DIC Corp.
• RTP Company
• The Lubrizol Corp.
• RAMPF Holding GmbH & Co. KG
• Tosoh Corp.

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.

Private 5G Network Market Set to Record Exponential Growth by 2028: Grand View Research Inc.

 

Private 5G Network Market Growth & Trends

The global private 5G network market size is estimated to reach USD 14.28 billion by 2028, registering a CAGR of 39.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. Significantly growing demand for ultra-reliable low-latency connectivity with an extremely secure network across several mission-critical applications, such as public safety, is expected to boost the deployment of private 5G networks during the forecast period. Moreover, a wide range of industries, including manufacturing, oil & gas, mining, and energy & utility, are investing a massive amount in deploying private 5G telecom service to enhance their overall productivity and operational efficiency. As a result, it is expected to foster market growth from 2021 to 2028.

The private 5G network is expected to completely transform the transportation and logistics industry by providing seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity. As such, the need to ensure a secure, seamless, and uninterrupted connectivity with ports, vessels, and ships is estimated to drive the market. At the same time, the continued deployment of private 5G infrastructure is estimated to improve the operational efficiencies in several Industrial IoT (IIoT) use cases. The IIoT use cases include Automated Guided Vehicles (AGV), wireless UHD cameras, machine control systems, collaborative/cloud robots, and remote asset monitoring. Thus, the rising need for higher and secure bandwidth to ensure reliable and unified communication between IIoT devices is expected to propel the market growth over the forecast period.

Key market players are strategically building partnerships with industry giants to set up a private 5G network to provide high-speed secure connectivity to their customers. For instance, in Feb 2020, Nokia Corporation deployed a private 5G network infrastructure for Lufthansa Technik for virtual inspection of engine parts remotely for its civil aviation clients. Moreover, the rising demand for enhanced bandwidth connectivity for secured enterprise applications is anticipated to fuel the adoption of private 5G services globally.

Due to the ongoing Covid-19 pandemic, several key countries, such as the U.S., France, the U.K., and Australia, have temporarily postponed the 5G spectrum auctions. The pandemic has also hampered the production and supply of major telecom equipment needed to deploy the network infrastructure. As a result, it is anticipated to slow market growth over the forecast period.

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Private 5G Network Market Report Highlights

• The hardware segment led the global market accounting for a revenue share of over 56% in 2020 and will retain its dominance throughout the forecast period
• This growth is credited to the increasing deployment of private 5G service, RAN, and backhaul and transport equipment for various mission-critical applications
• With the growing need to provide unified connectivity with low latency to several industrial sensors, the manufacturing sector is anticipated to witness huge market growth over the forecast period
• The sub-6 GHz segment is expected to attain the highest market share by 2028 due to the massive allocation of sub-6 GHz frequencies by communication service providers to deliver network services
• With a rising need to avail affordable and highly secure band of the frequency spectrum for Massive Machine Type Communication (mMTC), the unlicensed/shared spectrum segment is anticipated to account for a significant market share by 2028
• Prominent players are strategically focusing on establishing partnerships to deploy the network in customers’ premises to deliver secure and enhanced wireless connectivity

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Private 5G Network Market Segmentation

Grand View Research has segmented the global private 5G network market on the basis of component, frequency, spectrum, vertical, and region:

Private 5G Network Component Outlook (Revenue, USD Million, 2020 - 2028)

• Hardware
  • Radio Access
  • Core
  • Backhaul & Transport
• Software
• Services
  • Installation & Integration
  • Data Services
  • Support & Maintenance

Private 5G Network Frequency Outlook (Revenue, USD Million, 2020 - 2028)

• Sub-6 GHz
• mmWave

Private 5G Network Spectrum Outlook (Revenue, USD Million, 2020 - 2028)

• Licensed
• Unlicensed/Shared

Private 5G Network Vertical Outlook (Revenue, USD Million, 2020 - 2028)

• Manufacturing
  • Food & Beverages
  • Automotive
  • Pharmaceuticals
  • Electrical & Electronics
  • Heavy Machinery
  • Clothing & Accessories
  • Others
• Energy & Utilities
• Transportation & Logistics
• Defense
• Enterprises & Campus
• Mining
• Healthcare/Hospitals
• Oil & Gas
• Retail
• Agriculture
• Smart Cities
• Others

Private 5G Network Regional Outlook (Revenue, USD Million, 2020 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• South America
  • Brazil
• Middle East & Africa (MEA)

List of Key Players of Private 5G Network Market

• Telefonaktiebolaget LM Ericsson
• Nokia Corp.
• Huawei Technologies Co., Ltd.
• Samsung
• ZTE Corp.
• Deutsche Telekom
• Juniper Networks
• AT&T Inc.
• Verizon Communications
• Altiostar
• Mavenir
• BT Group
• T-Systems International GmbH
• Cisco Systems, Inc.
• Vodafone 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.

Robotic Process Automation Market to Incur Meteoric Growth During 2021 to 2028: Grand View Research Inc.

 

Robotic Process Automation Market Growth & Trends

The global robotic process automation market size is expected to reach USD 13.74 billion by 2028, according to a new report by Grand View Research, Inc., registering a CAGR of 32.8% over the forecast period. The COVID-19 pandemic disrupted enterprise business activities worldwide, resulting in a revenue loss in FY 2020. The decline in enterprises’ revenue resulted in the need for cutting overhead expenses by automating the process and reducing the number of employees involved in performing redundant tasks. Market players leveraged this as an opportunity to introduce robotic process automation (RPA) to enterprises.

The RPA adoption increased in small- and medium-scale organizations that were adversely affected by the slow business and temporary shutdowns. The need to monitor cost and human resources are expected to boost the demand for RPA in organizations of all sizes. The SMEs, in particular, benefited by using RPA by improving employee and customer satisfaction. The need for automating structured and repetitive processes across the organization to increase productivity and rescue operation time is anticipated to drive market growth over the forecast period.

The RPA implementation for automation across different business departments, such as finance and accounting, procurement, human resource, contact center, and industry-specific process, is contributing to the market growth. The industry-specific processes, such as onboarding employee, customer, and vendor; order processing, payroll processing, and report aggregation, are some of the business areas automated using RPA solution. Innovations to computerize redundant undertaking across businesses have accelerated business processes, reduced human error, and amplified throughput.

The inclusion of RPA with cognitive technologies, such as Artificial Intelligence (AI), machine learning, speech recognition, and Natural Language Processing (NLP), can handle high-level tasks using unstructured data and exhibit decision-making capability without human intervention. Robotic process automation was intended to decrease monotonous tasks by following a set of predefined procedures that don’t need information or experiences. However, with AI integration, RPA softbots can function beyond an automated cognitive system by creating a knowledge-based dynamic system. The use of such systems in applications ranging from customer query handling to assembly lines will promote market growth over the forecast period.

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Robotic Process Automation Market Report Highlights

• The services segment is estimated to register the fastest CAGR of more than 30.0% over the forecast period
• The need to develop and implement business-specific automation solutions that save time and reduce operational cost is expected to drive segment growth over the forecast period
• The BFSI application segment is anticipated to account for the highest revenue share of the global market by 2028
• Automation of critical business functions in banking & financial institutions, such as compliance regulations, rekeying, data entry, and assembly & formulation, to reduce human error and save processing time is expected to drive the BFSI segment growth
• North America dominated the global market in 2020 on account of increased product demand across the BFSI, manufacturing, healthcare, and IT & telecom industries

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Robotic Process Automation Market Segmentation

Grand View Research has segmented the global robotic process automation market on the basis of type, service, deployment, organization, application, and region:

RPA Type Outlook (Revenue, USD Million, 2016 - 2028)

• Software
• Service

RPA Service Outlook (Revenue, USD Million, 2016 - 2028)

• Consulting
• Implementing
• Training

RPA Deployment Outlook (Revenue, USD Million, 2016 - 2028)

• Cloud
• On-Premise

RPA Organization Outlook (Revenue, USD Million, 2016 - 2028)

• Large Enterprises
• Small and Medium Enterprises (SMEs)

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

• BFSI
• Pharma & Healthcare
• Retail & Consumer Goods
• Information Technology (IT) & Telecom
• Communication and Media & Education
• Manufacturing
• Logistics, and Energy & Utilities
• Others

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

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

List of Key Players of Robotic Process Automation (RPA) Market

• UiPath
• Automation Anywhere
• Blue Prism
• NICE
• Pegasytems
• KOFAX, Inc.
• NTT Advanced Technology Corp.
• EdgeVerve Systems Ltd.
• FPT Software
• OnviSource, Inc.
• HelpSystems

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.

Commercial Refrigeration Equipment Market to Partake Significant Development During 2021-2028

 

Commercial Refrigeration Equipment Market Growth & Trends

The global commercial refrigeration equipment market size is estimated to reach USD 43.16 billion by 2028, registering an estimated CAGR of 4.2% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increase in demand for frozen food items and the thriving hospitality and tourism industries are some of the factors driving the market growth.

The growing environmental concerns related to the emission of harmful refrigerants such as Chlorofluorocarbons (CFC) and Hydro-chlorofluorocarbons (HCFC) have led to the implementation of regulations favoring the use of efficient alternatives in commercial refrigeration equipment globally. Under its Clean Air Act, the U.S. Environment Protection Agency (EPA) has mandated the regularized use of low Global Warming Potential (GWP) refrigerants in the equipment for the commercial sector. Such regulations are encouraging commercial refrigerator manufacturers to seek low energy consuming refrigerants to minimize the adverse effect of Greenhouse Gas (GHG) emissions. For instance, in 2020, Hiber, a brand of Ali Group S.r.l. a Socio Unico, added bidirectional IoT connectivity integrated refrigeration cabinets optimized with self-learning systems for reducing energy consumption when the equipment is not in use.

In 2020, the COVID-19 catastrophe majorly disrupted the commercial foodservice industry and retail industries, adversely impacting the growth of the market for commercial refrigeration equipment. However, since December 2019, the research institutes and pharmaceutical companies have highly demanded and utilized vaccine storage refrigerators during their R&D processes to come up with a life-saving vaccine against the coronavirus. The commercial refrigeration equipment has witnessed a boom from the biotechnology and pharmaceutical industry owing to the formulation of the vaccine and later its rollout, and for successfully storing and transporting the vaccines at a global scale.

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Commercial Refrigeration Equipment Market Report Highlights

• The refrigerators and freezers segment accounted for a revenue share of nearly 25.0% in 2020. The rising consumption of vaccine storage units during the COVID-19 pandemic in an attempt to conduct a successful immunization process is anticipated to contribute to the growth
• The U.S. has been the major contributor in the North America region with a revenue share of close to 80.0% in 2020
• By system type, the self-contained refrigeration equipment segment is expected to register a CAGR of nearly 5.0% from 2021 to 2028
• The 51 cu. Ft. - 100 cu. Ft. capacity segment accounted for the largest revenue share in 2020

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Commercial Refrigeration Equipment Market Segmentation

Grand View Research has segmented the global commercial refrigeration equipment market based on product, application, system type, capacity, and region:

Commercial Refrigeration Equipment Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Transportation Refrigeration Equipment
• Refrigerators & Freezers
• Beverage Refrigeration
• Display Showcases
• Ice Merchandisers & Ice Vending Equipment
• Other Equipment

Commercial Refrigeration Equipment Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Food Service
• Food & Beverage Retail
  • Hypermarkets
  • Supermarkets
  • Convenience Store
  • Specialty Food Store
  • Others
• Food & Beverage Distribution
• Food & Beverage Production
• Others

Commercial Refrigeration Equipment System Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Self-contained
• Remotely Operated

Commercial Refrigeration Equipment Capacity Outlook (Revenue, USD Billion, 2016 - 2028)

• Less than 50 cu. Ft
• 50 to 100 cu. Ft
• More than 100 cu. Ft

Commercial Refrigeration Equipment Regional Outlook (Revenue, USD Billion, 2016 - 2028)

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

List of Key Players of the Commercial Refrigeration Equipment Market

• AB Electrolux
• Ali S.p.A.
• Carrier
• DAIKIN Industries, Ltd.
• Dover 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.

Commercial Drone Market Factors Hindering The Growth Rate, Challenges and Restraints For Business Development 2028

 Commercial Drone Market Growth & Trends

The global commercial drone market size is anticipated to reach USD 501.4 billion by 2028, registering a CAGR of 57.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for commercial drones can be attributed to the growing application base across a wide range of end-use verticals, including real estate and construction, media and entertainment, and agriculture. Majority of the end-use verticals that involve a high proportion of operational processes are expected to experience substantial productivity gains from drone usage owing to the automation of business operations.

UAVs or drones are reinventing old businesses and even creating new prospects. In 2016, the Federal Aviation Administration (FAA) released regulations related to the usage of commercial drones that clarified the legal landscape for businesses and workers. Since then, the industrial applications of commercial drones have significantly increased. Drones are expected to emerge as versatile tools, which can transform the existing business operations and help to establish new startups.

The prominent industry players are involved in the manufacturing as well as supply of accessories required for drone operation. Additionally, they provide applications for Android/iOS-based smartphones and tablets to efficiently operate and maneuver the drones during flight. These manufacturers offer drones for various verticals, such as security & law enforcement, energy, agricultural, retail, media, and entertainment.

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Commercial Drone Market Report Highlights

• The ability of drones to perform increasingly complex tasks is likely to improve with advancements in technologies such as collision avoidance and autonomy
• Commercial drones are anticipated to become a potential alternative for the logistics activities of companies, helping them increase their competitive advantage
• Drones are widely being used to inspect power plants, oil and gas, and other industrial sites to ensure proper operations and safeguard these sites
• Newer drone-supportive regulations are expected to lower the entry barriers for startups providing commercial operations of drones
• The advent of drones is set to transform the media industry as it allows the journalism sector to cover news in areas where human entry is prohibited

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Commercial Drone Market Segmentation

Grand View Research has segmented the global commercial drone market based on product, application, end-use, and region:

Commercial Drone Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Fixed-wing
• Rotary Blade
• Hybrid

Commercial Drone Application Outlook (Revenue, USD Million, 2016 - 2028)

• Filming & Photography
• Inspection & Maintenance
• Mapping & Surveying
• Precision Agriculture
• Surveillance & Monitoring
• Others

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

• Agriculture
• Delivery & Logistics
• Energy
• Media & Entertainment
• Real Estate & Construction
• Security & Law Enforcement
• Others

Commercial Drone Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
• Asia Pacific
  • China
  • Australia
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • UAE
  • Israel
  • South Africa

List of Key Players in the Commercial Drone Market

• DJI
• Parrot Drones SAS
• YUNEEC
• 3D Robotics
• EHANG

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.

Body Armor Market to Witness Tremendous Growth and Expansion by 2028

 Body Armor Market Growth & Trends

The global body armor market size is expected to reach USD 3.53 billion by 2028, registering a CAGR of 5.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by the rising demand for defense protection equipment owing to the rise in asymmetric warfare in various countries, such as South Korea, Iraq, and India. The growing number of conflicts around the globe and violence, in general, has led to the significant demand for ballistic protection for the law, military enforcement agencies, and armored vehicles. This has further attributed to the rising demand for lightweight body armor protection.

The ever-increasing focus of defense agencies on soldier survivability is driving the demand for body armor. The shortage of ballistic protection suits and the rise in asymmetric warfare activities among various countries worldwide are further accelerating industry growth. Besides, vast developments in the field of nanotechnology are helping develop materials and fibers that can make armor lightweight and more flexible, consecutively driving industry growth. The emergence of armor based on advanced technologies, such as dragon skin and liquid body armor, is also contributing to market expansion. Moreover, the rising demand for body armor for civilian use has also created several industry growth opportunities. The increased demand for body armor among civilians can be attributed to the rise in crimes, burglaries, home invasion, and similar activities; bulletproof vests are one of the most common body armors used by civilians. CITIZEN ARMOR, a U.S.-based protection equipment manufacturing company, offers ballistic plates for civilians. The relatively low cost of steel plates has led to their re-emergence in the manufacturing of body armors for civilian use in the American market. Besides, metal plates are advantageous over ceramic plates since they can protect against multiple hits.

Modernization activities have created several opportunities for industry participants, leading to alliances with military agencies in a contractual environment. For instance, in July 2019, KDH Defense Systems, a U.S.-based body armor manufacturer, received two separate delivery orders worth USD 40 million from the U.S. Armed Forces. Emerging economies, such as India and China, are increasingly focusing on replacing legacy military equipment and increasing their defense budget. For instance, in May 2020, China hiked its defense budget to USD 179 billion compared to USD 177.6 billion in 2019. However, it has been the lowest hike in recent years due to the significant economic disruption caused by the novel coronavirus outbreak.

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Body Armor Market Report Highlights

• The high penetration of body armor in the defense sector can be attributed to the emergence of modern military equipment and legacy systems
• In the civilian application segment, the demand for body armor is high, especially among people residing in crime-prone areas, jewelry store owners, embassy personnel overseas, and executive protection personnel
• The level IV body armor plate segment is expected to expand at a noticeable CAGR over the forecast period. This growth is attributable to the fact that the introduction of the final version of NIJ (National Institute of Justice) Standard 0101.07 is anticipated to improve the test methods and the performance requirements for the ballistic resistance levels
• The law enforcement protection application is expected to register a noticeable CAGR over the forecast period since NIJ has been pivotal in developing modern body armors for police officers

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Body Armor Market Segmentation

Grand View Research has segmented the global body armor market based on level, application, material, product type, product style, and region:

Body Armor Level Outlook (Revenue, USD Million, 2017 - 2028)

• Level I
• Level IIA
• Level II
• Level IIIA
• Level III
• Level IV

Body Armor Application Outlook (Revenue, USD Million, 2017 - 2028)

• Defense
• Law Enforcement Protection
• Civilians

Body Armor Material Outlook (Revenue, USD Million, 2017 - 2028)

• Steel
• UHMWPE
• Aramid
• Composite Ceramic
  • Alumina
  • Silicon Carbide (SiC)
  • Ceramic-Metal Composite
  • Boron Carbide
  • Others
• Others

Body Armor Product Type Outlook (Revenue, USD Million, 2017 - 2028)

• Soft Armor
  • Plates & Inserts
  • Shields
• Hard Armor
  • Plates & Inserts
  • Shields
• Accessories
  • Carrier
  • Helmets
  • Others

Body Armor Product Style Outlook (Revenue, USD Million, 2017 - 2028)

• Covert
• Overt

Body Armor Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players in the Body Armor Market

• Aegis Engineering Ltd.
• AR500 Armor
• BAE Systems
• Ballistic Body Armor Pty
• Craig International Ballistics Pty Ltd.
• Ceradyne, Inc.
• Hellweg International
• Kejo Limited Company
• Pacific Safety Products
• Point Blank Enterprises, Inc.
• Safariland, LLC 

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.

Fraud Detection And Prevention Market Pegged For Strong Growth During 2021-2028: Grand View Research Inc.

 Fraud Detection And Prevention Market Growth & Trends

The global fraud detection and prevention market size is expected to reach USD 62.70 billion by 2028, registering a CAGR of 15.4% over the forecast period, according to a new report by Grand View Research, Inc. Rise in incidences of mobile payment frauds, phishing, and card frauds, and their subsequent impact on businesses and resultant financial losses are anticipated to drive market growth over the forecast period. Digital transformation is the new buzzword, as businesses transform the way they interact with their customers. However, increased digitization has also exposed businesses to online frauds and scams.

Thus, to mitigate these frauds, while securing customer as well as business data, the demand for fraud detection and prevention (FDP) solutions is anticipated to witness an upsurge over the forecast period. Digital platforms and online banking applications, wherein consumers directly interact with businesses, are complex. These applications require several risk-based security solutions to detect fraud at individual layers. Without implementing solutions and vulnerability testing, hacktivists and fraudsters can easily exploit gaps across these channels.

Incumbents from the banking, telecom, and retail & e-commerce industries are popular targets of such fraud threats. Thus, a need for continuous monitoring and detection of vulnerabilities across layers is required to strengthen fraud defense among organizations. Despite rising digital fraud cases, organizations continue to offer services digitally to consumers as it is a cost-effective approach. Deploying or reliance on a single solution or tool as a defensive tactic increases the risks of fraud attempts. Educating enterprises and consumers related to fraudsters' modus operandi is a significant step towards defending against fraud.

Several government agencies, such as the Federal Financial Institutions Examination Council of the U.S. and the Serious Fraud Investigation Office of India, provided guidelines, programs, and standards to promote fraud defense among organizations and consumers. In addition, deploying advanced technology adaptable to existing cybercriminal operational strategy is crucial. Thus, the need to curb fraudster activities, secure personal information, and strengthen the security framework is expected to drive the adoption of fraud detection and prevention solutions among enterprises.

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Fraud Detection And Prevention Market Report Highlights

• An increase in the number of fraudulent activities reported worldwide and increased reliance on online transactions will create opportunities for market growth
• The solution segment is expected to register a CAGR exceeding 10.0% from 2021 to 2028. The need to identify behavior or patterns associated with fraudulent activities among enterprises is a key factor expected to favor the segment growth. The proliferation of analytic tools to detect threats or anomalies in organization data is expected to favor fraud analytical solutions growth
• Consistent internet access has paved way for digital transactions. However, cyber frauds becoming rampant at an alarming rate has led to the increased demand for fraud detection solutions to curb payment fraud incidences
• Larger enterprises have the spending capacity to secure customer as well as business data, and this has resulted in the segment capturing the highest market share in 2020. However, with fraud activities occurring at an alarming frequency, small- & medium-sized enterprises are also expected to increase spending on security solutions over the forecast period
• North America has always been at the forefront of technology developments and digitization of processes. Therefore, the region captured the highest market share in 2020, with increased demand from several tech companies in the region

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

Fraud Detection And Prevention Market Segmentation

Grand View Research has segmented the global fraud detection and prevention market on the basis of component, solutions, services, application, organization, vertical, and region:

Fraud Detection & Prevention Component Outlook (Revenue, USD Million, 2016 - 2028)

• Solutions
• Services

Fraud Detection & Prevention Solutions Outlook (Revenue, USD Million, 2016 - 2028)

• Fraud Analytics
• Authentication
• Governance, Risk, and Compliance

Fraud Detection & Prevention Services Outlook (Revenue, USD Million, 2016 - 2028)

• Professional Services
• Managed Services

Fraud Detection & Prevention Application Outlook (Revenue, USD Million, 2016 - 2028)

• Identity Theft
• Money Laundering
• Payment Fraud
• Others

Fraud Detection & Prevention Organization Outlook (Revenue, USD Million, 2016 - 2028)

• SMEs
• Large Enterprises

Fraud Detection & Prevention Vertical Outlook (Revenue, USD Million, 2016 - 2028)

• BFSI
• Government & Defense
• Healthcare
• IT & Telecom
• Industrial & Manufacturing
• Retail & E-commerce
• Others

Fraud Detection & Prevention Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Fraud Detection And Prevention (FDP) Market

• Total System Services, Inc.
• Software AG
• SAS Institute, Inc.
• SAP SE
• Oracle
• IBM
• Fiserv, Inc.
• Experian plc
• Equifax, Inc.
• BAE Systems
• ACI Worldwide, 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.

Track and Trace Solutions Market is Expected to Grow at a CAGR of 19.0% during the Forecast Period: Grand View Research Inc.

 

Track And Trace Solutions Market Growth & Trends

The global track and trace solutions market size is expected to reach USD 9.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.0% from 2021 to 2028. The growth is attributed majorly due to the increasing focus of pharmaceutical and biopharmaceutical companies on ensuring brand protection from counterfeit products and theft. The deployment of a track and trace system helps manufacturers enhance distribution channel efficiency and reduces the frequency of counterfeit products.

Furthermore, the rising adoption of track and trace systems by healthcare manufacturers would fuel the market growth in the long run. The introduction of advanced technology, such as RFID, provides fast reading and delivers high levels of security. However, the deployment cost of serialization and aggregation methods, as well as the lack of common regulations and standards, may hamper the market growth in few developing geographies.

US CBP and customs of other member countries as well as by the World Customs Organization reported the seizures of false coronavirus tests and personal protective equipment for example facemasks and hand sanitizers. For instance, in May 2020, Smartrac teamed up with SUKU to validate COVID-19 testing kits and personal protective equipment to permit prompt verification and deliver end-to-end supply chain transparency. Hence, it is estimated that the market will witness lucrative growth opportunities due to the COVID-19 outbreak.

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Track And Trace Solutions Market Report Highlights

• The software solution was the largest revenue-generating segment of the market in 2020. This contribution is mainly because of the regulatory mandates for the execution of serialization and aggregation in the healthcare sector
• The serialization solution was the largest grossing segment in 2020. Increasing application of serialization in pharmaceuticals and medical devices packaging will be a vital factor contributing to the growth of the segment
• The RFID segment is expected to exhibit the fastest growth rate during the study period. The key factors attributing to the growth of the segment are technological advantages, such as high durability and reusability, more data storage capacity, and no requirement of the line of sight
• North America dominated the market in 2020. The rising implementation of regulatory standards and regulations along with the high adoption rate of track and trace systems by consumers is anticipated to contribute to the growth of the market in the region

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

Track And Trace Solutions Market Segmentation

Grand View Research has segmented the global track and trace solutions market on the basis of product, technology, application, end-use, and region:

Track & Trace Solution Product Outlook (Revenue, USD Million, 2016 - 2028)

• Hardware Systems
  • Printing & marking
  • Monitoring & verification
  • Labeling
  • Others
• Software Solutions
  • Plant manager software
  • Line controller software
  • Bundle tracking software
  • Others

Track & Trace Solution Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Barcodes
• RFID

Track & Trace Solution Application Outlook (Revenue, USD Million, 2016 - 2028)

• Serialization Solutions
  • Bottle Serialization
  • Label Serialization
  • Carton Serialization
  • Data Matrix Serialization
• Aggregation Solutions
  • Bundle Aggregation
  • Case Aggregation
  • Pallet Aggregation

Track & Trace Solution End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Pharmaceutical & biopharmaceutical Companies    
• Medical Device Companies   
• Healthcare Others
• Food and Beverage
• Consumer Goods
• Luxury Goods

Track & Trace Solution Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Track And Trace Solutions Market

• Axway
• Mettler-Toledo International, Inc.
• Optel Vision
• TraceLink, Inc.
• Adents International
• Antares Vision srl
• Siemens AG
• Seidenader Maschinenbau GmbH
• ACG Worldwide
• Systech, 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.