Synthetic Leather Market Witness Excellent Revenue Growth During 2021-2028: Grand View Research Inc

 Synthetic Leather Market Growth & Trends

The global synthetic leather market size is anticipated to reach USD 57.0 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 7.8% from 2021 to 2028. Increasing product application scope in footwear has been a major factor driving the market growth. In addition, growing importance and awareness about animal rights and stringent laws regarding the usage of real leather are propelling the demand for its synthetic counterpart. Synthetic leather materials offer superior properties, such as high gloss finish, durability, strength, and UV resistance, and easy maintenance. Moreover, products made from faux leather are cheaper and thus, continue to attract consumers, especially from middle- and high-income level groups.

However, in countries, such as Japan, the product is facing competition from Fumikodata, which is a replica of real leather and is a cruelty-free material. Polyurethane (PU) was the largest product category in 2020 and is expected to register the fastest CAGR over the forecast period. Polyvinyl Chloride (PVC) is anticipated to witness sluggish growth on account of its properties, such as sticky finish and low durability. The footwear application segment is expected to observe considerable growth over the upcoming years. Cheaper costs and fluctuating climatic conditions in several regions create the need for different types of footwear.

Rising disposable income levels in emerging regions are also fueling the product demand in the footwear segment. Moreover, the trend of incorporating athletic shoes in daily lifestyle is further augmenting the product demand. Consumer spending in the U.S. and some European countries has slowed down slightly owing to the global recession. However, the footwear industry has witnessed significant growth in the emerging markets due to high product demand from countries, such as China, India, South Korea, Vietnam, Thailand, and other South Asian countries.

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Synthetic Leather Market Report Highlights

• The global market is expected to witness significant growth over the forecast period owing to rising product demand in the footwear and automotive applications
• PU leather emerged as the largest product segment in 2020 and is estimated to generate revenue over USD 35.6 billion by 2028
• Asia Pacific is projected to be the fastest-growing as well as the largest regional market over the estimated period
• The market growth in APAC can be credited to the rapid economic growth across countries, such as India, China, Japan, and Korea
• In addition, the rapid development of the construction and automotive manufacturing industries in APAC is fueling the product demand further
• Countries, such as South Korea, Taiwan, China, and India, are emerging as leading producers in the global market as a result of the availability of relatively cheaper raw materials

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Synthetic Leather Market Segmentation

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

Synthetic Leather Product Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

• PU
• PVC
• Bio-based

Synthetic Leather Application Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

• Furnishing
• Automotive
• Footwear
• Bags & Wallets
• Clothing
• Others

Synthetic Leather Regional Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Synthetic Leather Market

• Kuraray Co., Ltd.
• R. Polycoats Pvt. Ltd.
• Nan Ya Plastics Corp.
• Teijin Ltd.
• Alfatex Italia SRL

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

 In-vitro Toxicology Testing Market Growth & Trends

The global in-vitro toxicology testing market size is expected to reach USD 51.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.7% from 2021 to 2028. In recent times, the validation and acceptance of in-vitro and alternative testing methods by regulatory agencies are increasing at lucrative pace. Also, ongoing technological advancements to replace the use of animals for toxicology testing purposes have spurred the use of in vitro testing models, in turn, driving the market.

Several governments are taking measures to minimize animal-based test models, forming conducive government policies, and providing funds to support in-vitro models. These factors are expected to create ample growth opportunities for the market. For instance, in November 2019, the U.S. National Institute for Environmental Health Sciences planned to provide funds to small companies for the development of engineered 3D culture or organotypic culture models (OCM) in-vitro systems.

With advancements in high throughput screening, biological screening, and chemical synthesis, the number of publicly available databases containing data related to toxicity; absorption, distribution, metabolism, and excretion (ADME); pharmacovigilance; and drug screening has expanded rapidly. This has enabled scientists to access vast information for toxicity profiling, thereby spurring revenue generation in this market. Several companies offer HTT-based in vitro toxicology analysis, e.g., Solidus Bioscience’s MetaChip Technology, which provides a solution for in vitro toxicology analysis using HTT.

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In-vitro Toxicology Testing Market Report Highlights

• Growing application of 3D-spheroid-cultures, particularly for nanoparticle toxicity testing, resulted in the dominance of the cell culture technology segment in 2020
• Omics technology is anticipated to register lucrative growth over the forecast period as RNA sequencing and shotgun proteomics are increasingly used in research settings
• The cosmetics industry is expected to be the fastest-growing segment in the near future, creating new avenues for the expansion of HTTs across the globe
• The cellular assays segment dominated the market in 2020 owing to advancements in cell-based technologies, including label-free detection and high-content screening
• The potential of cell imaging technologies is combined with high-content cell screening assays and high-throughput assays for the development of multi-parameter assays
• Systemic toxicology emerged as the leading application segment in 2020 as it plays a key role in risk assessment during drug development procedures
• For instance, toxicity testing of systemic immunosuppressive drugs and systemic corticosteroids is important during the development of drugs for ocular inflammatory disease
• The pharmaceutical industry segment dominated the market in 2020 as toxicological testing is a prerequisite step for drug development
• Stringent government regulations regarding animal usage for toxicity analysis in North America have led to an increased adoption rate of in-vitro models
• In Asia Pacific, the market is anticipated to witness the fastest growth rate over the forecast period
• This is due to increasing initiatives by public agencies to encourage acceptance of non-animal test models
• The key participants are involved in collaborations with bioinformatics research firms in order to develop novel in-silicoalgorithms for computational estimation of toxicity of pharmaceutical and chemical products
• Moreover, these market entities are also focusing on entering untapped regions in order to maintain their share in market revenue

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In-vitro Toxicology Testing Market Segmentation

Grand View Research has segmented the global in-vitro toxicology testing market on the basis of end-use, technology, method, application, and region:

In-vitro Toxicology Testing End-use Outlook, (Revenue, USD Million, 2018 - 2028)

• Pharmaceutical Industry
• Cosmetics & Household Products
• Academic Institutes and Research Laboratories
• Diagnostics
• Chemical Industry
• Food Industry

In-vitro Toxicology Testing Technology Outlook (Revenue, USD Million, 2018 - 2028)

• Cell Culture Technology
• High Throughput Technology
• Molecular Imaging
• OMICS Technology

In-vitro Toxicology Testing Application Outlook, (Revenue, USD Million, 2018 - 2028)

• Systemic Toxicology
• Dermal Toxicity
• Endocrine Disruption
• Occular Toxicity
• Others

In-vitro Toxicology Testing Method Outlook (Revenue, USD Million, 2018 - 2028)

• Cellular Assay
  • Live Cells
    • High Throughput / High Content Screening
    • Molecular Imaging
      • Confocal Microscopy
      • Others
    • Others
  • Fixed Cells
• Biochemical Assay
• In-Silico
• Ex-vivo

In-vitro Toxicology Testing Regional Outlook (Revenue, USD Million, 2018 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • Japan
  • China
• Latin America
  • Brazil
• Middle East Africa (MEA)
  • South Africa

List of Key Players of In-vitro Toxicology Testing Market

• Merck KGaA
• Charles River
• Bio-Rad Laboratories, Inc.
• Abbott
• Thermo Fisher Scientific Inc.
• Catalent, Inc.
• GE Healthcare
• Quest Diagnostics Incorporated
• Eurofins Scientific
• Laboratory Corporation of America Holdings
• Evotec
• Creative Bioarray
• Gentronix
• BioIVT
• SGS SA
• Agilent Technologies.

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.

Viral Vectors And Plasmid DNA Manufacturing Market To Hold a High Potential for Growth by 2028: Grand View Research Inc.

 Viral Vectors And Plasmid DNA Manufacturing Market Growth & Trends

The global viral vectors and plasmid DNA manufacturing market size is expected to reach USD 8.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 18.8% from 2021 to 2028. The robust pipeline for gene therapies and viral-vector-based vaccines has primarily driven the market.

Amidst the COVID-19 pandemic, the demand for viral vectors has rapidly increased especially in vaccinology. This led to expanding manufacturing capabilities by operating players to meet the growing demand. The application of these vectors in vaccine development has witnessed significant growth in 2020.

Also, an increase in the number of gene therapy-based discovery programs initiated by biotechnology and pharmaceutical companies is expected to drive the demand for scalable production of gene therapy vectors. Owing to this, several private and public agencies are providing funds to accelerate advancements in the manufacturing processes for viral vectors.

Besides, the implementation of single-use technology can lead to significant savings in capital, operating costs, materials, and labor. The use of this equipment will enhance efficiency and improve flexibility, leading to high yields of the final product. Thus, advancements in single-use technology directly impact revenue growth in this space.

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Viral Vectors And Plasmid DNA Manufacturing Market Report Highlights

• The Adeno Associated Virus (AAV) segment accounted for the significant revenue share in 2020. High usage and promising results in gene therapy clinical trialshave boosted its adoption
• Moreover, several biopharma companies are offering their viral vector platform for the development of AAV-based gene therapy products, thereby driving the segment
• The downstream processing segment dominated the market in terms of revenue share. This can be attributed to the availability of advanced purification products
• Owing to the rising demand for cost-effective and scalable manufacturing processes, companies are involved in the development of the upstream cell culture processes
• This is anticipated to result in the notable growth of the upstream processing segment
• The vaccinology segment dominated the market in terms of revenue share in 2020
• The SARS-COV-2 pandemic has supplemented the use of vectors in this segment
• With the active engagement of the research community in the R&D of advanced therapies, research institutes captured the maximum revenue share in the market
• The initiation of several R&D programs by pharmaceutical and biopharmaceutical companies to combat the COVID-19 crisis would further propel market growth
• A rapidly growing pipeline of advanced therapy products for various cancer types has led to lucrative revenue generation in the cancer segment
• North America maintained its dominance in 2020 owing to the high number of entities engaged in offering products and services for viral vector manufacturing in the U.S.
• Furthermore, the remarkable success of viral vector-based Kymriah, Yescarta, and ZOLGENSMA in the U.S. has also contributed to regional dominance
• In Asia Pacific, the market is projected to witness the fastest growth rate owing to industrialization and clinical transformation of gene therapyin the region
• Companies continue to make focused attempts to expand their manufacturing facilities as well as service portfolio to maintain their market presence

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Viral Vectors And Plasmid DNA Manufacturing Market Segmentation

Grand View Research has segmented the global viral vectors and plasmid DNA manufacturing market on the basis of vector type, workflow, application, end use, disease, and region:

Viral Vectors & Plasmid DNA Manufacturing Vector Type Outlook (Revenue, USD Million, 2017 - 2028)

• Adeno Associated Virus (AAV)
• Lentivirus
• Adenovirus
• Retrovirus
• Plasmid DNA
• Others

Viral Vectors & Plasmid DNA Manufacturing Workflow Outlook (Revenue, USD Million, 2017 - 2028)

• Upstream Processing
  • Vector Amplification & Expansion
  • Vector Recovery/Harvesting
• Downstream Processing
  • Purification
  • Fill-finish

Viral Vectors & Plasmid DNA Manufacturing Application Outlook (Revenue, USD Million, 2017 - 2028)

• Antisense & RNAi
• Gene Therapy
• Cell Therapy
• Vaccinology
• Research Applications

Viral Vectors & Plasmid DNA Manufacturing End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Pharmaceutical and Biopharmaceutical Companies
• Research Institutes

Viral Vectors & Plasmid DNA Manufacturing Disease Outlook (Revenue, USD Million, 2017 - 2028)

• Cancer
• Genetic Disorders
• Infectious Diseases
• Others

Viral Vectors & Plasmid DNA Manufacturing Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Viral Vectors And Plasmid DNA Manufacturing Market

• Merck KGaA
• Lonza
• FUJIFILM Diosynth Biotechnologies
• Cobra Biologics
• Thermo Fisher Scientific
• Waisman Biomanufacturing
• Genezen laboratories
• YPOSKESI
• Advanced BioScience Laboratories, Inc. (ABL)
• Novasep Holdings S.A.S.
• Orgenesis Biotech Israel Ltd
• Vigene Biosciences Inc.
• General electric company (GE Healthcare)
• pharmaceuticals GMBH
• Batavia Biosciences
• Biovion Oy
• Wuxi Apptec Co Ltd
• VGXI Inc.
• Catalent Inc.
• Miltenyi Biotec GmbH
• SIRION Biotech GmbH
• Virovek Incorporation
• BioNTech IMFS GmbH
• VIVEbiotech S.L.
• Creative Biogene
• Vibalogics BmbH
• Takara Bio Inc.
• Cell and Gene Therapy Catapult Bluebird Bio Inc.
• Addgene Inc.
• Aldevron LLC
• Astellas Pharma Inc.
• BioMarin Pharmaceutical
• RegenxBio, 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.

Calcium Carbonate Market Projected to Discern Stable Expansion by 2028

 Calcium Carbonate Market Growth & Trends

The global calcium carbonate market size is expected to reach USD 60.7 billion by 2028 registering a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Calcium carbonate is a compound that is commonly found in rocks, such as limestone and dolomite. The product is extracted by quarrying or mining and is further processed to form Precipitated Calcium Carbonate (PCC) or Ground Calcium Carbonate (GCC).

The product is extensively used in various applications including paper, paints & coatings, food, health-related products, and building & construction materials. The COVID-19 pandemic impacted both the production and consumption of calcium carbonate. The enforcement of lockdown across major cities has disrupted the mining, manufacturing, and supply chain activities across the globe, causing a decline in product demand. However, the demand is high in the healthcare market and related industries, mainly in the paper industry due to rising concerns regarding personal hygiene, which is boosting the demand for tissue papers.

The paper application segment accounted for the largest market share of over 50% in 2019 and is expected to grow at a steady rate during the forecast period. Growing concerns regarding sustainability and hygiene are the major growth drivers for the paper industry. For instance, initiatives undertaken to ban single-use plastic products have propelled the consumption of paper in packaging applications.

Plastics is another significant segment of the market, which utilizes calcium carbonate as a filler. The product is not just considered as a resin extender in plastics anymore but its addition has contributed to increased performance, processing, and sustainability in the finished parts. In addition, its low cost provides an economic advantage. Moreover, it is 100% FDA-approved, which allows it to be used in the food and medical applications as well. The COVID-19 pandemic has accelerated the growth of the medical industry, which, in turn, has propelled the demand for plastic.

Plastics are widely used in the medical industry in various applications, such as disposable medical devices, surgical gloves, IV tubes, and other tools. These are one-time-use products and their demand has increased during the pandemic. Asia Pacific was the largest regional market in 2019 and is anticipated to retain its dominance over the forecast period. Government initiatives for the development of the manufacturing sector by offering incentives and inviting FDIs are expected to benefit market growth. For example, in May 2020, Mineral Technologies signed an agreement with Satia Industries Ltd. to build a 42 kiloton per annum satellite PCC plant in Punjab, India. Satia Industries Ltd. is a renowned papermaker in India that will utilize Mineral Technologies’ PCC as a filler to enhance opacity, bulk, and brightness of paper.

The global market is highly competitive owing to the presence of numerous established players in the industry that are integrated across the value chain. The competitive scenario is intense for the market as major players have reported losses during the first half of 2020. For example, Mineral Technologies reported a loss of 14.44% and Imerys reported a loss of 15.3% in their revenue for Q2 2020.

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Calcium Carbonate Market Report Highlights

• Asia Pacific accounted for the largest revenue share in 2019 and is expected to grow further on account of rising focus on the development of the manufacturing sector in the region
• Paper was the largest application segment in 2019 and accounted for a volume share of more than 50%
• The growth of this application segment is attributed to the high demand for paper from the packaging and healthcare industries
• Plastics is expected to register the fastest CAGR of 5.0% from 2020 to 2028, in terms of revenue, on account of its rising demand from the medical sector
• The Middle East & Africa is anticipated to register a significant CAGR during the forecast period on account of rapid growth in the construction industry that is propelling cement production in the region

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Calcium Carbonate Market Segmentation

Grand View Research has segmented the global calcium carbonate market on the basis of application and region:

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

• Paper
• Paints & Coatings
• Plastics
• Adhesives & Sealants
• Others

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

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

List of Key Players of Calcium Carbonate Market

• AGSCO Corp.
• Carmeuse
• Blue Mountain Minerals
• Carmeuse Lime & Stone Company
• GCCP Resources
• GLC Minerals, LLC
• Greer Limestone Company
• Gulshan Polyols Ltd.
• ILC Resources
• Imerys
• M. Huber Corp.
• LafargeHolcim
• Midwest Calcium Carbonates
• Mineral Technologies
• Mississippi Lime
• Mountain Materials, Inc.
• NALC, LLC
• Omya
• Parchem Fine & Specialty Chemicals
• The National Lime & Stone Company
• United States Lime & Minerals, 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.

Intelligent Transportation System Market Size Is Predicted To Reach A Valuation Of USD 42,936.1 Million By 2028: Grand View Research Inc.

 Intelligent Transportation System Market Growth & Trends

The global intelligent transportation system market size is expected to reach USD 42,936.1 million by 2028, registering a CAGR of 7.0% from 2021 to 2028, according to a new study by Grand View Research, Inc. Continued advances in the development of transportation networks have triggered the need for an efficient transportation system. At the same time, advances in the latest technologies, such as blind-spot detection and electronic toll collection, are continuously redefining the expectations and prospects for sustainable management of transportation networks and traffic. At this juncture, the growing need to present real-time traffic information to drivers and passengers is emerging as one of the key factors driving the demand for intelligent transportation system (ITS).

Advances in telecommunications technologies and the evolution of IT systems are expected to help in reducing traffic congestions. Given that modern traffic control strategies focus more on utilizing real-time data while simultaneously addressing impact criteria, such as emission control; the integration of ITS with smart grid and other energy distribution and charging systems can potentially help distribution agencies in utilizing the real-time data to draft capacity expansion strategies for the future. According to the ITS Development Strategy drafted by the Department of Transport of the Republic of Korea, intelligent transportation systems can help significantly in reducing traffic congestion, preventing automobile idling, and subsequently in reducing fuel consumption and hence greenhouse gas emissions.

The growing volumes of data involved in transportation management are driving the need for more sophisticated data processing solutions. As such, intelligent transportation systems are leveraging AI to track data in real-time and optimize efficiency. International Business Machine’s Watson is an example of the implementation of artificial intelligence (AI) in transportation management to identify damages to logistics assets leveraging cognitive visual recognition capabilities and to manage the network and optimize routes leveraging predictive analysis.

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Intelligent Transportation System Market Report Highlights

• The Advanced Traveler Information System (ATMS) segment is anticipated to register considerable growth over the forecast period. ATMS provides traffic management solutions that can potentially improve road safety while enhancing traffic flows and mobility. Traffic management solutions offer real-time data that can help in analyzing and responding to emergencies immediately
• The traffic management segment accounted for the largest market share of over 30% in 2020 and is expected to continue dominating the market over the forecast period. The increase in travel time and hence the fuel consumption and the subsequent monetary losses stemming from traffic congestions are driving the necessity for implementing efficient traffic management systems. Traffic management systems also help in enhancing the operational performance and reliability of road networks
• The North America regional market is anticipated to reach USD 16.13 billion by 2028. The regional market is expected to continue dominating the global market over the forecast period leveraging the advances in telecommunications technology and the aggressive investments in research and development, deployment, and adoption of intelligent transportation systems across the U.S.

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Intelligent Transportation System Market Segmentation

Grand View Research has segmented the global intelligent transportation system market based on type, application, and region:

Intelligent Transportation System Type Outlook (Revenue, USD Million, 2018 - 2028)

• Advanced Traveler Information System (ATIS)
• Advanced Traffic Management System (ATMS)
• Advanced Transportation Pricing System (ATPS)
• Advanced Public Transportation System (APTS)
• Emergency Medical System (EMS)

Intelligent Transportation System Application Outlook (Revenue, USD Million, 2018 - 2028)

• Traffic Management
• Road Safety and Security
• Freight Management
• Public Transport
• Environment Protection
• Automotive Telematics
• Parking Management
• Road Tolling Systems

Intelligent Transportation System Regional Outlook (Revenue, USD Million, 2018 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• South America
  • Brazil
  • Argentina
• MEA
  • UAE
  • KSA

List of Key Players of Intelligent Transportation System Market

• Addco
• Agero, Inc.
• DENSO CORPORATION
• EFKON GmbH
• Hitachi, Ltd.
• Garmin Ltd.
• Thales Group
• Xerox Corporation
• Recardo
• Sensys Networks, Inc.
• Telenav, Inc.
• Iteris, Inc.
• Kapsch TrafficCom
• Lanner
• Nuance Communications, Inc.
• Q-Free ASA
• Siemens AG
• TomTom International BV
• TransCore

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 Transformation Market Overview And Rising Dependency On Factors by 2028: Grand View Research Inc.

 

Digital Transformation Market Growth & Trends

The global digital transformation market size is estimated to reach USD 1,759.4 billion by 2028, registering a CAGR of 23.6% over the forecast period, according to a new report by Grand View Research, Inc. The increasing adoption of advanced technologies, such as the Internet of Things (IoT) and machine learning, across several industries/sectors, is encouraging businesses to implement connected, analytical, and data-rich solutions via digital transformation. These solutions are capable of encapsulating intelligence into business operations to facilitate improved and more effective customer engagements. Moreover, the growing usage of mobile devices, smartphones, and applications across business functions is increasingly promoting digitization.

Digital transformation enables organizations to mitigate business risks and manage disruptions, such as corporate restructuring, marketplace fluctuations, unforeseen pandemics, and unpredictable geopolitical environments, more efficiently. It enables organizations to address a range of process optimization. Moreover, it enables businesses to target a larger customer base by designing new business models, products, and services leveraging digitization. Furthermore, it helps facilitate the transformation of business activities, traditional processes, and business models to benefit from upcoming changes and opportunities pertaining to futuristic technologies.

The rapid urbanization and digitization across the globe are enabling organizations to embrace digital transformation using technology-driven solutions. The growing usage of cloud technology by various Small & Medium Enterprises (SMEs) helps them adopt modern Digital Experience Platforms (DXP) at reasonable costs without constant upgradation or replacement of systems. This is estimated to drive the market during the forecast period. Moreover, benefits, such as improvements in operational flexibility and overall customer experience, are encouraging digital transformation initiatives across SMEs, driving the market.

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Digital Transformation Market Report Highlights

• The solution segment is expected to capture the largest share by 2028 due to the exponential rise in the use of mobile technology across several industries, and the subsequent shift in the way content is consumed via social media platforms
• The rising implementation of digital transformation solutions across industries and verticals is driving the demand for support and maintenance services. This is expected to boost the demand for professional services over the forecast period
• The hosted deployment segment is expected to gain momentum over the forecast period owing to advantages, such as lower cost, convenience, flexibility, and improved security
• Large enterprise is expected to be the largest enterprise size segment due to the increased focus of large-scale firms on improving productivity and efficiency of workforces by using digital transformation solutions
• In terms of end-use, the healthcare segment is projected to register the fastest CAGR of more than 24% from 2021 to 2028
• The growing implementation of digital processes and technologies, such as telemedicine, blockchain, Electronic Health Records (EHRs), and AI-enabled medical devices, is allowing healthcare providers to improve patient care
• Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 due to the increasing penetration of advanced technologies

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Digital Transformation Market Segmentation

Grand View Research has segmented the global digital transformation market on the basis of type, deployment, enterprise size, end-use, and region:

Digital Transformation Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Solution
  • Analytics
  • Cloud Computing
  • Mobility
  • Social Media
  • Others
• Service
  • Professional Services
  • Implementation & Integration

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

• Hosted
• On-premise

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

• Large Enterprise
• Small & Medium Enterprise (SME)

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

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

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

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

List of Players in Digital Transformation Market

• Accenture plc
• Apple, Inc.
• ADOBE, Inc.
• CA Technologies (Broadcom, Inc.)
• Dell Technologies Inc.
• Hewlett Packard Enterprise Company
• International Business Machines Corp.
• Microsoft Corp.
• Kellton Tech Solutions Ltd.
• Google, 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.

Market For Lithium-Ion Battery Industry to Witness Tremendous Growth and Expansion by 2027: Grand View Research Inc.

 

Lithium-ion Battery Market Growth & Trends

The global lithium-ion battery market size is expected to reach USD 87.5 billion by 2027, expanding at a CAGR of 13.0%, according to a new report by Grand View Research, Inc. Rising sales of Electric Vehicles (EVs) and variation in consumer preferences is expected to drive the market.

Improved usage of li-ion batteries in EVs, grid storage, and portable consumer electronics systems owed to its high safety level with high energy density is projected to drive market growth. These batteries are used in applications that can provide a high-energy-density solution and are lightweight. Thus, these batteries offer maximum energy density per weight and are frequently used in smartphones, computers, and HEVs.

In addition, technological advancements to decrease the weight and cost of the battery and to increase power output and efficiency are expected to enhance market expansion. Efficient distribution channels are likely to be an essential method for market players to attain a competitive advantage. The industrial application segment dominated the overall market and accounted for over 34.3% of the total revenue in 2019.

The energy storage system application segment is expected to witness an estimated CAGR of 13.8% from 2020 to 2027 owing to the advancements in solar PV and wind energy systems in countries, including China, Germany, and the United States. Asia Pacific accounted for 33.1% of the global market share in 2019. The region is likely to illustrate a substantial rise on account of the execution of government policies to promote EVs in China and India.

Encouraging incentives are taken by the government authorities, including the net metering system, have stimulated the installation of rooftop solar photovoltaic panels. Battery energy storage system is an integral part of rooftop solar panels for power generation process, as solar energy can be stored in the system can be used during the night. This, in turn, will subsequently drive the demand for lithium-ion batteries in the coming years.

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Lithium-ion Battery Market Report Highlights

• The LMO product segment was valued over USD 5.3 billion in 2019
• Asia Pacific region is projected to grow at a substantial rate throughout the forecast period. India is expected to account for the maximum market share in the Asia Pacific
• The Lithium Cobalt Oxide (LCO) segment dominated the industry and accounted for 18.2% of total market revenue in 2019
• In North America, the market is likely to display a moderate growth rate during the projected period

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Lithium-ion Battery Market Segmentation

Grand View Research has segmented the global lithium-ion battery market on the basis of product, application, and region:

Lithium-ion Battery Product Outlook (Revenue, USD Billion, 2016 - 2027)

• Lithium cobalt oxide (LCO)
• Lithium iron phosphate (LFP)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
• Lithium Manganese Oxide (LMO)
• Lithium Titanate (LTO)
• Lithium Nickel Manganese Cobalt (LNMC)

Lithium-ion Battery Application Outlook (Revenue, USD Billion, 2016 - 2027)

• Consumer Electronics
• Automotive
• Energy storage system
• Industrial

Lithium-ion Battery Regional Outlook (Revenue, USD Billion, 2016 - 2027)

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Russia
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central and South America
  • Brazil
  • Colombia
  • Paraguay
• The Middle East and Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt

List of Key Players of Lithium-ion Battery Market

• GS Yuasa International Ltd.
• BYD Company Ltd.
• A123 Systems LLC
• Hitachi Chemical Co., Ltd.
• Shenzhen Huayu New Energy Technology Co., Ltd.
• Johnson Controls
• NEC Corporation, Panasonic Corporation
• Samsung SDI Co., Ltd.
• Toshiba Corporation
• LG Chem Ltd.
• Saft
• Sony Corporation
• Narada Power Source Co., Ltd.
• Contemporary Amperex Technology Co.

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.

Paint Protection Film Market Is Expected To Accomplish A Valuation Of Around USD 428.09 Million By 2028: Grand View Research Inc.

 Paint Protection Film Market Growth & Trends

The global paint protection film market size is projected to reach USD 428.09 million by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.4% during the forecast period. Increasing consumer awareness about vehicle paint protection against stone chipping, bug splatters, and abrasions is expected to trigger the demand for Paint Protection Films (PPFs).

On the other hand, ceramic coating technologies are likely to be used as a substitute to these films on account of their superior performance against abrasions and scratches, thus impacting the growth of the market. In addition, frequent discrepancies in raw material pricing as well as declining automotive production in several economies, such as the U.S., Korea, and Japan, are predicted to act as a restraining factor for the market players. However, the rapid growth of other end-use application sectors, such as aerospace & deference and electrical & electronics, is anticipated to provide new opportunities to them.

The global market is highly competitive on account of the easy availability of raw material and the strong presence of several key players with sufficient production capacities. Product sustainability, price, and durability are anticipated to be the key factors impacting the buyers’ decisions. The product is broadly available in retail as well as online platforms. Moreover, its installation necessitates expertise and specially trained employees for optimal results. Therefore, key industry participants are also focusing on after-purchase services. Some players have various established contracts with domestic installers to expand their geographical presence.

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Paint Protection Film Market Report Highlights

• In 2020, automotive & transportation emerged as the largest application segment and accounted for over 72% of the global revenue share, in which a majority of the product demand is attained from the passenger cars segment due to its superior color protection characteristics
• The aerospace & defense application segment is poised to register the fastest CAGR of 7.8% over the forecast period
• The growth of this segment can be attributed to the increasing investments in the aircraft and defense sectors in China, U.S., and India
• In 2020, the electrical & electronics application segment accounted for 4% of the overall market volume
• This share resulted majorly from the demand for electronic gadgets, such as mobiles, laptops, tablets, and phablets, in emerging economies of Asia Pacific and Central & South America
• In 2020, Asia Pacific was the leading regional market, in terms of volume as well as revenue, due to high product demand
• The regional market will expand further at the fastest CAGR from 2021 to 2028 mainly due to a significant rise in automotive sales in emerging economies, such as China, India, Vietnam, Thailand, and South Korea

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Paint Protection Film Market Segmentation

Grand View Research has segmented the global paint protection film market on the basis of application and region:

PPF Application Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 - 2028)

• Automotive & Transportation
• Electrical & Electronics
• Aerospace & Defense
• Others

PPF Regional Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
• Central & South America
• Middle East & Africa

List of Key Players of Paint Protection Film (PPF) Market

• KDX Composite Material
• 3M Company
• Eastman Chemical Company
• Premier Protective Films International
• Renolit
• SWM, Inc.
• XPEL, Inc.
• Avery Dennison 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.

Traffic Road Marking Coating Market to Exhibit Impressive Growth During 2021– 2027: Grand View Research Inc.

 Traffic Road Marking Coating Market Growth & Trends

The global traffic road marking coatings market size is expected to reach USD 7.1 billion by 2027, at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. Technological advancements and increased concern about public health and safety are factors driving market growth. Growing environmental concerns are driving the need for greener products in an attempt to support a healthy environment.

Paints are regarded as a major source of harmful volatile organic compounds (VOC) emissions. This has resulted in the development of thermoplastic coatings and other eco-friendly alternatives. Increasing instances of road fatalities is another primary concern which is compelling regional governments to invest in technological development to ensure highway safety and maintenance. There is a need for technological development to deal with issues such as traffic safety efficiently, which, in turn, drives the product demand.

Manufacturers are taking initiatives to develop innovative marking systems and temperature-sensitive paints, which is expected to drive market growth. Various initiatives to improve road safety and maintenance and prevent accidents are expected to positively influence the overall market.

Furthermore, favorable regulations established by agencies such as the Environmental Protection Agency (EPA), Traffic Signs Regulations and General Directions (TSRGD) 2002 by the Department for Transport (DT), and initiatives by the European Union to make roads safer are expected to boost the market growth.

The overall growth rate of the traffic road marking coatings market depends on the high potential regions, such as Asia Pacific and Middle East and Africa, where the industrial output is expected to increase over the forecast period. Due to a considerable rise in consumerism, which is driven by economic growth, favorable credit landscape, and increased disposable income, various countries, particularly India and China, have witnessed an exponential rise in manufacturing activities. This has impacted the logistics activities in the aforementioned regions, thereby boosting the demand for traffic road marking coatings for safer roads.

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Traffic Road Marking Coating Market Report Highlights

• Thermoplastic coatings is expected to emerge as the fastest-growing product segment in terms of revenue over the forecast period. This growth is attributed to its properties such as longevity and retro-reflectivity
• In terms of volume, paint dominated the market in 2019 with a share of 44.9% owing to its wide application for crosswalks, airport runways, and highways
• Asia Pacific is estimated to witness the highest growth rate over the forecast period on account of rise in infrastructure spending in emerging economies such as India, China, and Japan
• Key players operating in the market include BASF SE, Sherwin-Williams Company, Borealis AG, SealMaster, Armacell International S.A., and Recticel Group.   

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Traffic Road Marking Coating Market Segmentation

Grand View Research has segmented the global traffic road marking coatings market on the basis of product, type, application, and region:

Traffic Road Marking Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Paint
• Thermoplastic
• Preformed Polymer Tape
• Epoxy

Traffic Road Marking Coatings Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Permanent
• Removable

Traffic Road Marking Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Road Marking Lines
• Road Marking Labels

Traffic Road Marking Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

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

About Grand View Research

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