Wine Cork Market to Undertake Strapping Growth By 2028

 Wine Cork Market Growth & Trends

The global wine cork market size is expected to reach USD 7.8 billion by 2028, registering a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Rising inclination of millennials toward wine consumption from developed as well as developing countries is propelling the wine cork demand. Surging disposable income, increasing working population, and rising living standards along with changing alcoholic beverage preferences are some factors driving the growth of the market. Millennials are more experimental with respect to taste and consumption habits for certain alcoholic products such as wine, champagne, and beer. Thus, the increase in wine consumption presents untapped opportunities for major players to build or expand their facilities. In addition, increasing usage of social media marketing is further supporting the growth of the market.

Multiple administrations and authorities are taking reforms and initiatives such as an international guide for buying cork stoppers for wines have led to a substantial impact on the market. To improve the quality of corks, the technical forum i.e. Natural Cork User Group (NCUG) has collaborated with wineries, retailers, and the cork industry to simplify and maintain quality parameters throughout the supply chain of the cork manufacturing. Such initiative encourages the key players to invest in wine cork which has led to significant market growth. The global COVID 19 virus epidemic disrupted the supply chains and dented consumer demand. Bars, liquor stores, and restaurants were closed, which has resulted in a drop in sales and ultimately revenue.

Insufficient labor causes production to stop. Within the same period, increased home wine consumption, same-day delivery of food and alcohol, and higher levels of online wine sales by retailers and small wineries will support industry growth. The natural type segment contributed to the highest revenue share of 92.5% in 2021 as it is the most suitable material for the preservation of still wines and premium spirits. The micropores in the cork allow for the equally micro-oxidation in the wine, which improves the aging process. This natural cork guarantees the evolution and matureness of wine in the best conditions. However, the synthetic stoppers made of plastic are expected to witness the fastest CAGR over the forecast period as these corks are less susceptible to TCA contamination. In addition, these corks offer predictable oxygen transmission rates as well as a tight seal, and since they are not made of wood, synthetic corks do not deteriorate or dry out, thereby boosting the market.

Traditional offline retail accounted for the largest market share in 2021 due to more advanced distribution networks. The traditional offline retail market accounts for more than half of the market and is expected to maintain its dominance over the next few years. However, the online segment is expected to witness a CAGR of 5.5% from 2022 to 2028, owing to the rise in Covid-19 cases and various restrictions imposed by government organizations around the world. Europe is expected to be the largest shareholder of this market as majority of cork production is done in the region. Portugal is the leading producer of cork globally. Also, the prime reason for the growth of the market in this region is the increasing demand for different types of wines among young consumers.

The regional market is expected to grow fast during the forecast period (2022 – 2028), due to the increasing demand for wine in festivals and gatherings. Manufacturers are focusing on new product launches along with research and development activities such as the installation of sensors in wine machinery, and others. Wine cork manufacturing equipment involves various components such as sensors, actuators, and spargers. Prices for these parts and machinery used in winemaking change as per the capacity and winery size, and thus hinder the market in developing economies, where consumers are price-sensitive.

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Wine Cork Market Report Highlights

• Europe dominated the market by contributing around 90.0% of the global revenue in 2021 due to the rising production of cork in this region. The region is also expected to register the fastest CAGR of 4.7% from 2022 to 2028 owing to the rising demand for wines by the millennial population in developed countries
• The natural segment contributed to the highest revenue share of 92.5% in 2021 due to rising demand for natural corks for the aging wines
• The offline distribution channel held the largest revenue share of more than 70.0% in 2021 due to the increasing demand for wine corks by larger vendor’s orders

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Wine Cork Market Segmentation

Grand View Research has segmented the global wine cork market on the basis of type, distribution channel, and region:

Wine Cork Type Outlook (Revenue, USD Million, 2017 - 2028)

• Natural
• Synthetic

Wine Cork Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

• Offline
• Online

Wine Cork Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
• Europe
  • Portugal
  • Spain
  • France
• Asia Pacific
  • China
  • Japan
• Central & South America
  • Chile
• Middle East & Africa
  • Saudi Arabia

List of Key Players of Wine Cork Market

• Amorim Cork, S.A, Ltd.
• Jelinek Cork Group
• Waterloo Container Company
• C. Ribeiro, S. A.
• We Cork Inc.
• Elkem Silicones limited
• Precision Elite limited company
• Widgetco, Inc.
• Allstates Rubber & Tool Corp
• A. Silva Corks USA, 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.

Dishwashing Detergent Market Expected to Receive Greater Traction As Manufacturers’ Contribution Swells

 Dishwashing Detergent Market Growth & Trends 

The global dishwashing detergent market size is expected to reach USD 31.26 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2022 to 2028. The growing demand for eco-friendly and sustainable products in developed regions like Europe and North America is propelling the industry demand. Rising urbanization and industrial expansion are expected to boost market growth over the forecast period. The augmented use of dishwashers in developed regions is propelling the market growth and leading to a larger production of machine dishwashing detergents, which are easy to use. Additionally, owing to a rise in disposable income, consumers are shifting towards electronic appliances such as dishwashers. As a result, there is an increase in demand for dishwashing detergents.

Dishwashing detergent products consist of enzymes, bleaches, surfactants, chemicals, and other ingredients. These chemicals are hazardous to the environment and affect human health. Owing to all these factors, certain governments had implemented stringent regulations in some countries. Thus, manufacturers have initiated implementing sustainable processes for producing biodegradable, non-toxic, and safe products, which are safer for human health and the environment. Thus, owing to all these factors, the market is anticipated to witness growth over the forecast period.

A number of industries and global economies were negatively impacted by the COVID-19 pandemic. Authorities announced a lockdown across the world and citizens were asked to follow strict social distancing to restrict the spread of the virus. Owing to the COVID-19 pandemic, demand and supply of the consumer industry were observed to be steady. With the restrictions and lockdown, a lack of workers was observed, which, in turn, has reduced or limited the production of manufacturing units, thereby limiting the production. It is expected that post-COVID-19 restrictions and lockdown, the global economy will grow normally as earlier. 

The hand dishwashing detergents product segment held the largest revenue share of more than 60.0% in 2021 due to its increasing demand. With the rising availability and increasing awareness regarding the benefits of cleanliness, the demand for hand dishwashing detergents in emerging economies such as China, India, and Malaysia will drive the industry. The offline distribution channel segment held the largest revenue share in 2021. The offline segment includes store types such as supermarkets, hypermarkets, specialty stores, and retail stores. The growing number of organized retail channels in developing countries such as India, Singapore, Malaysia, and China is expected to increase the demand for dishwashing detergents in the coming years. Vendors offer products with gifts and discounted prices to attract consumers. Owing to these factors, the segment is anticipated to witness growth over the coming years. 

Europe held the largest revenue share of more than 35.0% in 2021 owing to the large utilization of dishwashing detergents in this region. Growing demand for machine dishwashing detergents owing to the increasing number of dishwashers per house in this region is augmenting the growth of this market. In addition, stringent environmental regulations are creating opportunities for eco-friendly and bio-based dishwashing detergents manufacturers. This is expected to aid the market growth in the coming years. 

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Dishwashing Detergent Market Report Highlights

• North America is expected to register the fastest growth rate of 9.0% from 2022 to 2028 owing to the rising demand for sustainable and eco-friendly products
• The hand dishwashing detergents product segment held the largest revenue share of over 60.0% in 2021 due to the rising product demand from developing countries as they are economical
• Europe dominated the market for over 35.0% in 2021 due to the rising demand for machine dishwashing detergents
• Offline distribution channel held the largest revenue share of more than 80.0% in 2021 due to the developed retail sector in developing countries 

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Dishwashing Detergent Market Segmentation 

Grand View Research has segmented the global dishwashing detergent market on the basis of product, distribution channel, and region:

Dishwashing Detergent Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

• Offline
• Online

Dishwashing Detergent Product Outlook (Revenue, USD Million, 2017 - 2028)

• Machine Dishwashing Detergents
• Hand Dishwashing Detergents
• Others

Dishwashing Detergent Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Dishwashing Detergent Market

• Procter & Gamble (Cascade)
• Unilever
• Henkel AG & Co. KGaA (Pril)
• Reckitt Benckiser Group PLC (Finish)
• Colgate-Palmolive Company
• Kao Corporation
• The Clorox Company
• Bombril
• Dropps
• Blueland

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.

Respiratory Protective Equipment Market Will Be Worth $24.69 Billion by 2030: Grand View Research Inc.

 

Respiratory Protective Equipment Market Growth & Trends

The global respiratory protective equipment market size is expected to reach USD 24.69 billion by 2030, registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. Stringent government regulations and the emergence of the COVID-19 pandemic leading to awareness among consumers is expected to boost the product demand over the forecast period. The emergence of new biological viruses, such as COVID-19, Middle East Respiratory Syndrome (MERS), and Severe Acute Respiratory Syndrome (SARS), along with a shift in a trend toward proactive measures in the healthcare sector is expected to propel the product demand over the forecast period.

The rising awareness, in the post-pandemic scenario, about infectious biological hazards is likely to influence the market growth. Moreover, the use of respiratory protection, such as Powered Air-purifying Respirator (PAPR) and Self-Contained Breathing Apparatus (SCBA), is expected to increase as end-user activities begin to normalize. Increasing concern regarding compensation costs on account of the rising number of injury cases in various industries, such as manufacturing, transportation, and chemicals, is anticipated to promote the adoption of workplace safety regulations. In addition, growing concerns regarding high-risk activities in the construction and manufacturing sectors are expected to drive RPE demand over the forecast period.

A majority of the market players are focusing on manufacturing APRs, such as disposable masks and N95 respirators, owing to their low costs and widescale application in the industrial sector. In addition, companies are partnering with raw material suppliers, automotive OEMs, etc. to manufacture APRs given their increasing demand across the globe. Major market players like 3M and Honeywell International Inc. are expected to further strengthen their forward and backward integration with more players following suit. This is likely to provide a competitive advantage and consolidate market shares, especially in the unpowered air-purifying respirator market segment.

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Respiratory Protective Equipment (RPE) Market Report Highlights

• The APRs segment is anticipated to grow at the fastest CAGR from 2022 to 2030, in terms of revenue, on account of stringent government regulations, especially in developing countries in Asia Pacific
• The healthcare end-use segment accounted for the largest revenue share in 2021 owing to the pandemic leading to a rise in demand for disposable filtering masks, such as N95 masksand surgical masks
• The market in Asia Pacific is projected to grow at the fastest CAGR over the forecast period on account of the growing usage of respiratory protection in construction, mining, and oil & gas industries
• Germany accounted for 22% of the Europe market revenue in 2021 on account of the growth of the construction industry due to the government’s push for developing green infrastructure,which boosted the product demand
• The industry participants focus on the research and development of new technologies for product manufacturing and integration across various stages of the value chain to gain a competitive edge in the market

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Respiratory Protective Equipment Market Segmentation

Grand View Research has segmented the global respiratory protective equipment market on the basis of product, end-use, and region:

Respiratory Protective Equipment Product Outlook (Revenue, USD Million, 2017 - 2030)

• Air-Purifying Respirators (APR)
  • Unpowered Air-Purifying Respirators
    • Disposable Filtering Half Mask Respirator
      • N95 Mask
      • Surgical Mask
      • Others
    • Half Mask Respirator
    • Full Face Mask Respirator
  • Powered Air-Purifying Respirators (PAPR)
    • Half Mask Respirator
    • Full Face Mask Respirator
    • Helmets, Hoods, Visors
  • Escape Respirators
• Supplied Air Respirators
  • Self-contained Breathing Apparatus (SCBA)
  • Full Face Masks
  • Airline Respirators

Respiratory Protective Equipment End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Oil & Gas
• Fire Services
• Petrochemical/Chemical
• Industrial
• Pharmaceuticals
• Construction
• Healthcare
• Mining
• Others

Respiratory Protective Equipment Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of Respiratory Protective Equipment Market

• 3M
• Alpha Pro Tech Limited
• Ansell Ltd.
• Honeywell International Inc.
• Avon Rubber p.l.c.
• MSA Safety Incorporated
• Intech Safety Pvt. Ltd.
• Delta Plus Group
• Bullard
• ILC Dover LP
• DuPont
• Kimberly-Clark Corporation
• Polison Corporation
• Uvex Safety Group
• Gateway Safety, 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.

Artificial Intelligence For IT Operations Platform Market to Reflect a Holistic Expansion During 2022 to 2030: Grand View Research Inc.

 

Artificial Intelligence For IT Operations Platform Market Growth & Trends

The global artificial intelligence for IT operations platform market size is expected to reach USD 33.82 billion by 2030, registering a CAGR of 17.7%, according to a new report by Grand View Research, Inc. Rapid digital transformations in global business organizations have brought about increasingly complex datasets. Businesses spend a significant amount of time, cost, and effort on processing large volumes of data. IT operations are also on the edge of this transformation, wherein IT teams are required to manage complex datasets to sustain their business. Besides, there has been a considerable increase in data loads over the last few years due to the distributed architecture and dynamic nature of business applications and services.

With the increasing IT agility requirement, the artificial intelligence for IT operations (AIOps) platform has emerged as a way for IT operations teams to keep up with business demands, trends, and aggressive digitization of IT infrastructure. AIOps platform refers to the AI platform for IT operations that combines human intelligence with automated algorithms to provide full visibility into IT systems' performance. For instance, in March 2022, HCL Technologies, a leading global technology company, announced a center of excellence in collaboration with IBM. This Center of Excellence will assist CSPs in modernizing their network infrastructure, simplifying operations, and transforming service delivery.

The COVID-19 outbreak has created significant challenges and uncertainties for several businesses. AIOps platform can align with the industries, operating in the digital environment amid such a challenging era of business infrastructural transformations. The increasing digital transformation during the pandemic has led to various challenges concerning user experience, security, and the downfall of the industries. Organizations are restructuring operational infrastructure as security-related vulnerabilities in the digital environment have increased, significantly.

Under such highly dynamic circumstances, the AIOps platform helps businesses to take vigilant security measures. For instance, security teams can benefit from AIOps for cybersecurity, where they can gain data security visibility and intelligence. These devices can perform various vital tasks, such as surveillance, threat response, and engagement.

The adoption of cloud computing has been increasing rapidly in recent years. Cloud-hosting services such as Microsoft Azure (Microsoft), AWS (Amazon Web Services, Inc.), and Google Cloud (Alphabet Inc.) appeal to many enterprises, owing to features such as the ability to scale up or down based on usage, pay-per-use, self-service, and high resiliency. These advantages, in turn, lead to lower IT expenditure, better service quality, and faster time-to-market than traditional IT offerings.

AIOps solutions enable new IT operations efficiencies by offering centralized visibility across all environments, which helps diagnose and resolve IT issues, faster. For instance, in February 2022, Deloitte, a consulting and advisory services company, has announced the launch of AIOPS.D. This "AI-fueled, plug-and-play modular" micro-services platform automates business functions such as procurement, supply chain, and finance.

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Artificial Intelligence For IT Operations Platform Market Report Highlights

• Organizations are deploying AIOps platforms specifically for real-time analytics and network & security management
• Most AIOps platforms focus on providing enriched company data over data about individuals, called intent data. Intent data is collected behavioral information about an individual's online or digital activities
• The rising adoption of machine learningfor infrastructure management in IT environments is one of the major factors driving the market growth
• Key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity in IT operations

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Artificial Intelligence For IT Operations Platform Market Segmentation

Grand View Research has segmented the global artificial intelligence for IT operations platform market based on offering, application, deployment mode, organization size, vertical, and region:

AIOps Platform Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Platform
• Service

AIOps Platform Application Outlook (Revenue, USD Million, 2017 - 2030)

• Infrastructure Management
• Application Performance Analysis
• Real-Time Analytics
• Network & Security Management
• Others

AIOps Platform Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud
• On-premise

AIOps Platform Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

• SMEs
• Large Enterprises

AIOps Platform Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• Healthcare & Life Sciences
• Retail & E-commerce
• IT & Telecom
• Energy & Utilities
• Government & Public Sector
• Media & Entertainment
• Others

AIOps Platform Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of Artificial Intelligence For IT Operations Platform Market

• AppDynamics
• BMC Software, Inc.
• Broadcom Inc.
• HCL Technologies
• International Business Machines Corporation
• Micro Focus
• Moogsoft
• ProphetStor Data Services, Inc.
• Resolve Systems LLC
• Splunk Inc.

About Grand View Research

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

U.S. Carbon Dioxide Market Set to Witness an Uptick during 2022 to 2030: Grand View Research Inc.

 U.S. Carbon Dioxide Market Growth & Trends

The U.S. carbon dioxide market size is expected to reach USD 6.59 billion by 2030, registering a CAGR of 8.4% over the forecast period, according to a new report by Grand View Research, Inc. Increasing usage of carbon dioxide for Enhanced Oil Recovery (EOR) in oil & gas plants is anticipated to result in the growth of the market. In terms of revenue, the hydrogen segment accounted for a significant share in 2021. The growth of this segment can be attributed to the presence of leading hydrogen-producing companies in the country that have CO2 manufactured as a byproduct during hydrogen production.

Substitute Natural Gas (SNG) is expected to be one of the major sources of the production of CO2 in the U.S. This is due to a rise in the discovery of natural gas reserves in the U.S. with the deployment of shale technology. The oil & gas application segment accounted for a significant share in 2021 owing to the application of carbon dioxide-based EOR in oil fields of the U.S. for efficient and effective oil production. Moreover, the usage of CO2 in the food & beverages and medical industries is anticipated to increase in the U.S. over the forecast period.

The growth of this segment can be attributed to the presence of a large base of food and beverage manufacturing facilities in the country, which is projected to expand further over the forecast period. The spread of COVID-19 hindered the growth of the market in 2020 and 2021 owing to the factors, such as the reduction in demand for CO2 in the country owing to lockdowns. However, an increase in demand for CO2 from the manufacturers of pharmaceuticals and essential commodities, such as fire safety products, has been witnessed in the U.S., as well as across the world.

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U.S. Carbon Dioxide Market Report Highlights

• In terms of revenue, the food & beverages application segment dominated the global market in 2021
• The hydrogen source segment accounted for the second-largest share of the global market revenue in 2021
• The growth of this segment can be attributed to the presence of leading hydrogen-producing companies in the country that have CO2 manufactured as a byproduct
• In terms of revenue, the SNG segment accounted for the maximum revenue share in 2021. SNG is derived from the gasification of coal and emits byproducts, such as CO2, hydrogen, carbon monoxide, and methane
• The rubber industry uses CO2 to clean the rubber molds and to remove flash from rubber objects by tumbling them with crushed dry ice in a rotating drum

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U.S. Carbon Dioxide Market Segmentation

Grand View Research has segmented the U.S. carbon dioxide market based on source, application:

U.S. CO2 Source Outlook (Volume, Million Tons; Revenue, USD Million, 2019 - 2030)

• Hydrogen
• Ethyl Alcohol
• Ethylene Oxide
• Substituted Natural Gas
• Others

U.S. CO2 Application Outlook (Volume, Million Tons; Revenue, USD Million, 2019 - 2030)

• Food & Beverages
• Oil & Gas
• Medical
• Rubber
• Fire Fighting
• Others

List of Key Players in U.S. Carbon Dioxide Market

• Linde plc
• Air Products Inc.
• Air Liquide
• Matheson Tri-Gas, Inc.
• Messer
• Continental Carbonic Products, Inc.
• Greco Gas Inc.
• Taiyo Nippon Sanso Corporation
• Universal Industrial Gases, Inc.
• Zephyr Solutions, 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.

North America Product Design & Development Services Market Set to Record Exponential Growth by 2030: Grand View Research Inc.

 North America Product Design & Development Services Market Growth & Trends

The North America product design & development services market size is expected to reach USD 5.66 billion by 2030, registering a CAGR of 11.7% over the forecast period, according to a new report by Grand View Research, Inc. The COVID-19 pandemic has significantly impacted the market. During the crisis, the product development firms faced the major challenge of how to continue with business operations while not getting affected by the disease. Also, the huge cost of development, the financial risk of missing the mark, and market timing altogether contributed to the greatest challenges for medical device development and market driving innovation.

However, the ease in the supply chain and significant reduction in market entry barriers have resulted in the recovery of this market. The pandemic has significantly increased the demand for diagnostic kits, Personal Protective Equipment (PPE), ventilators, and other critical medical supplies. Since February 2020, the FDA has authorized over 250 Emergency Use Authorizations (EUAs). The EUAs cover in vitro diagnostics and other testing kits, PPE kits & ventilators, and ECMO devices, among others. The major drivers of the market are increasing complexity in product design, demand for quality products, and cost reduction.

Medical and life sciences companies face extreme cost pressures to develop new and innovative products in shorter time frames while complying with the stringent regulatory requirements of the medical device. The manufacturers face more hurdles in getting cost-effective high-quality products to market faster along with some internal factors, such as design and production. Hence, medical device companies adopt a design-to-manufacturing approach where design, engineering, as well as production teams work in collaboration to develop the product model. This approach enhances both product quality and profitability by decreasing errors in development and designing, thereby increasing success rates.

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North America Product Design & Development Services Market Report Highlights

• The research, strategy, & concept generation segment dominated the market in 2021 owing to the extensive research required at this stage
• The surgical instruments segment held the major market share in 2021due to the complexity of instruments that requires the need for precise design and development
• The medical device companies segment is projected to exhibit the fastest CAGR over the forecast period due to the increasing demand for advanced and quality medical products
• Key companies focus on mergers, acquisitions, product innovation, and other strategies to gain a higher market share
• For example, in November 2021, Planet Innovation (PI) acquired the North American operations of BIT Analytical Instruments GmbH, which manufactures regulated medical devices

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North America Product Design & Development Services Market Segmentation

Grand View Research has segmented the North America product design & development services market on the basis of services, application, end-use, and region:

North America Product Design & Development Services Outlook (Revenue, USD Million, 2017 - 2030)

• Research, Strategy, & Concept Generation
• Concept & Requirements Development
• Detailed Design & Process Development
• Design Verification & Validation
• Process Validation & Manufacturing Transfer
• Production & Commercial Support

North America Product Design & Development Services Application Outlook (Revenue, USD Million, 2017 - 2030)

• Diagnostic Equipment
• Therapeutic Equipment
• Surgical Instruments
• Clinical Laboratory Equipment
• Biological Storage
• Consumables
• Others

North America Product Design & Development Services End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Medical Device Companies
• Pharmaceutical Companies
• Biotechnology Companies
• Contract Research Organizations

North America Product Design & Development Services Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada

List of Key Players of North America Product Design & Development Services Market

• Ximedica
• DeviceLab Inc.
• Jabil Inc.
• Flex Ltd.
• Plexus Corp.
• Celestica Inc.
• Starfish Medical
• Nordson Medical
• Planet Innovation
• Donatelle
• Cambridge Design Partnership
• Aran Biomedical

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 Twin Market Predicted to Witness Steady Growth During the Forecast Period

 Digital Twin Market Growth & Trends

The global digital twin market size is projected to reach USD 155,839.4 million by 2030, registering a CAGR of 39.1% from 2022 to 2030, according to a new study by Grand View Research, Inc. Digital twin technologies were primarily developed and deployed in the manufacturing, aerospace, and automotive sectors for designing and simulating component and system twins. However, the rising need for virtualization and automation as well as the emergence of technologies, such as the Internet of Things (IoT) and Artificial Intelligence(AI) has opened up new avenues for digital twin solution providers across industries, such as retail, real estate, banking and finance, and healthcare, thereby driving the market growth.

Digital twins enable enterprises to create virtual representations of their existing workflow patterns, which can be then observed and optimized to reduce operational costs. The retail and residential sectors are expected to witness increased adoption of digital twin technologies with the increasing focus on optimizing vendor-to-customer supply chains, sales forecast, and development of smart city projects. The emergence of such varied applications has increased the demand for tailor-made solutions across the end-use industries to address specific requirements, which is anticipated to fuel market growth. The COVID-19 pandemic has expedited the adoption of digital twin technology across several industries owing to social distancing norms.

As offices are on the verge of reopening, several firms are expected to adopt the technology to facilitate employee safety by creating digital twins of workplaces and modifying furniture, workplaces, sitting arrangements, among other applications. In addition, the healthcare sector has witnessed a surge in the adoption of the digital twin technology to create virtual replicas of infected patients and use them for future research. For instance, in May 2021, Dell Technologies partnered with i2b2 tranSMART Foundation to create digital twins using de-identified patient data. The digital twin is then expected to help researchers perform innumerable treatment simulations for future treatments, which may help mitigate the spread of the disease.

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Digital Twin Market Report Highlights

• In terms of end-use, the automotive sector is expected to register the fastest CAGR over the forecast period. Increasing developments in electric and connected vehicles are the prime factors driving the adoption of digital twin technology in the automotive sector
• In terms of solutions, the system segment held the highest revenue share in 2021 due to the high deployment of digital twins in the automotive, manufacturing, and aerospace sectors to enhance existing engine models & manufacturing lines
• Asia Pacific is expected to register the fastest CAGR over the forecast period owing to the presence of well-established automotive and manufacturing industries and the rising proliferation of connected devices
• Key players in the market are adopting inorganic strategies to acquire a larger market share. For instance, in April 2021, Hexagon AB acquired CADLM, a design software company based in Wissous, France
• The acquisition was aimed at leveraging CADLM’s technology and expertise in AI to enhance Hexagon AB’s Smart Manufacturing autonomous and digital twin capabilities
• Furthermore, manufacturers would also be able to use digital twin for image recognition, predictive simulation, and fault prediction to address issues with downtime, quality, and flexibility throughout the manufacturing process

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

Digital Twin Market Segmentation

Grand View Research has segmented the global digital twin market on the basis of end-use, solution, and region:

Digital Twin End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Manufacturing
• Agriculture
• Automotive & Transport
• Energy & Utilities
• Healthcare & Life Sciences
• Residential & Commercial
• Retail & Consumer Goods
• Aerospace
• Telecommunication
• Others

Digital Twin Solution Outlook (Revenue, USD Million, 2018 - 2030)

• Component
• Process
• System

Digital Twin Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Digital Twin Market

• ABB
• AVEVA Group plc
• Dassault Systemes
• General Electric
• Hexagon AB
• IBM Corp.
• SAP

About Grand View Research

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

U.S. Office Furniture Market to Witness Exponential Growth by 2030: Grand View Research Inc.

 U.S. Office Furniture Market Growth & Trends

The U.S. office furniture market size is expected to reach USD 22.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.3% from 2022 to 2030. Various factors such as rising disposable incomes, the growth of the real estate industry, the growth of businesses, and consumer desire for luxury and premium furnishings are driving the market. Furthermore, the growing popularity of hybrid working cultures and the expansion of ed-tech platforms are driving the U.S. office furniture industry forward.

Due to social distancing norms, the COVID-19 pandemic has pushed millions of Americans to work from home. Work-from-home (WFH) has become the norm and is expected to continue for the foreseeable future, making it stressful for working professionals who are not equipped with comfortable office furniture. During the COVID-19 pandemic, the demand to work and study at home has resulted in a surge in office furniture purchases. For example, HOM Furniture, based in Minneapolis, sells home office in all 17 of its locations and has noticed a boost in the category since the stay-at-home orders were implemented. Smaller scale workstations that can accommodate both laptops and tablets are one of the most popular varieties.

Moreover, sustainable manufacturing practices are being implemented by office furniture manufacturers. This is mostly due to the rising consumer awareness regarding the importance of sustainable living, which is driving up the demand for eco-friendly furniture. This involves reducing fuel usage and repurposing wood waste. Herman Miller, for example, has pledged to zero waste, 50 percent more local renewables (50,000 MWh), 100% Design for the Environment-approved items, and 125,000 tons of product returned each year.

Furthermore, internet furniture businesses are on the rise to reduce the requirement for rental space and inventory. Some of the most popular e-commerce websites in the U.S. for office furniture include Amazon.com and Wayfair. The increased possibilities for office furniture sales through online channels forced online retailers to strengthen their purchase processes in terms of security and reliability, boosting demand for office furniture. Secure transactions, cash-on-delivery alternatives, quick return policies, and integrated and centralized customer service are just a few of the policies that attract consumers to shop online.

Request a free sample copy or view report summary: U.S. Office Furniture Market Report

U.S. Office Furniture Market Report Highlights

• The U.S. market for office furniture is expected to witness significant growth from 2022 to 2030. In recent years, continued expansion in building construction in the commercial segment and rising disposable income levels have fueled office furniture demand in the U.S.
• The seating product segment accounted for the largest revenue share of over 25.0% in 2021. The recent rise in home offices as a result of an increase in remote work has boosted the demand for office furniture. With individuals spending more than 8-10 hours a day at work, adequate seating has become increasingly important, hence the rise in ergonomic chairs was recorded in the U.S.
• The online distribution channel segment is expected to register the highest CAGR of 9.9% over the forecast period. Furniture e-commerce has accelerated as a result of the pandemic. Due to the convenience, younger consumers, such as millennials, are more willing to buy products online, even if they can't see and feel the products beforehand. Yardbird, BenchMade Modern, Burrow, Article, and Joybird are just a few of the new direct-to-consumer furniture brands aimed at millennials

Access Press Release@ https://www.grandviewresearch.com/press-release/us-office-furniture-market-analysis

U.S. Office Furniture Market Segmentation

Grand View Research has segmented the U.S. office furniture market on the basis of product and distribution channel:

U.S. Office Furniture Product Outlook (Revenue, USD Million, 2017 - 2030)

• Seating
• Modular Systems
• Desks & Tables
• Others

U.S. Office Furniture Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Online
• Offline

List of Key Players in U.S. Office Furniture Market

• Haworth
• Herman Miller Inc.
• HNI Corporation
• Knoll
• Steelcase
• Ashley Furniture Industries Inc.
• Global Furniture Group
• Kimball International Inc.
• Okamura Corp.
• Interior Systems, 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.

Operating Room Integration Market Latest Innovations, Drivers and Industry Key Events 2022– 2030: Grand View Research Inc.

 

Operating Room Integration Market Growth & Trends

The global operating room integration market size is anticipated to reach USD 4.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.3% from 2022 to 2030. Increasing redevelopment projects and the adoption of advanced healthcare IT solutions in hospitals is a major factor boosting the market growth. Operating Rooms (OR) are increasingly becoming complex and congested due to the requirement of devices during surgeries such as surgical lights, operating tables, and surgical displays. Integrated Operating Rooms (I-ORs) are becoming a solution for this complexity in ORs.

Though digitization was now high on the agendas of most companies, the COVID-19 pandemic speeded up the paradigm shift towards digitization in 2020. Besides, the trend toward digital ORs was also quickened up by the pandemic. Thus, the COVID-19 crisis created new opportunities to innovate and new ways to create value in the evolving healthcare world. For instance, in March 2021, Olympus has introduced EASYSUITE, a next-generation OR integration solution, in the EMEA area. EASYSUITE features video management and routing, medical content management, procedure recording, and virtual collaboration. As a result, with the introduction of EASYSUITE, the company promoted digitalization in surgery and boosted its position in the EMEA territory.

The use of video communication solutions has increased during COVID-19, in response to restrictions on travel, to lower the risk of cross-infection and ensure continuous education of surgeons in training. According to a June 2020 article published in Wiley Online Library, Microsoft Teams and Zoom were used for live surgical training teleconferencing at the National University of Malaysia to comply with government protocols during the COVID-19 pandemic. The teleconferencing solution enabled webinar lectures, surgery case-based discussions, viva voce examination, and journal critique exercises. In such unprecedented conditions, teleconferences, online learning, and webinars can be advantageous for surgical education and assessments.

The modern operating room provides consolidated data and offers access to audio and video and controls for all surgical devices at the central command station, allowing the surgeon to achieve various tasks efficiently without the prerequisite to move near the OR. Other advantages of OR integration are it minimizes manpower, maximizes OR efficiency takes less surgical time procedure, and manages patient surgical records.

Most of the Minimally Invasive Surgeries (MIS) procedures such as TAVR, and EVAR, laparoscopic procedures are performed in hybrid integrated OR. Surging patient preference for MIS is boosting the market growth. MIS includes robotic surgery; laparoscopic surgeries that have a wide range of applications in the medical sector. In addition, hospitals have shifted their preference towards advanced MIS procedures for diagnosing chronic diseases. The preference is due to the benefits that this procedure provides such as lower postoperative complication rates along with reduced hospital stay, less pain and offers fast recovery time. It also provides a high accuracy rate as compared to traditional open surgery. The aforementioned factors are anticipated to boost the demand for I-ORs over the forecast period.

The competitors operating in the market are focusing on other strategies such as mergers and acquisitions, collaborative agreements to mark their presence in the market. For instance, In January 2020, Brainlab declared its acquisition of Vision Tree Software. Vision tree Optimal Care (VTOC) platform, which provides EHR, research, and registry platform. The acquisition will provide an opportunity to capture data by point-of-care electronic forms and use inefficient workflows. The strategies like these implemented by the leader in this vertical are further propelling the market growth.

Request a free sample copy or view the report summary: Operating Room Integration Market Report

Operating Room Integration Market Highlights

• OR integrated services are expected to witness the fastest growth rate in coming years owing to the growing demand from ambulatory surgical centersand hospitals
• The documentation management systems segment dominated the market in 2021 owing to the associated benefits such as data management with minimal errors
• Demand for fully integrated solutions to automated surgical workflows is growing in accordance with the requirements to access all the necessary information on a single platform. This helps in expediting the surgical procedure and eliminates the need for various devices arranged all over in the operating room
• The orthopedic surgery segment is anticipated to show a lucrative CAGR owing to its growing demand. There is an increase in the number of cases of orthopedic conditions, including osteoarthritis, osteoporosis, rheumatoid arthritis, and ligamentous knee injuries
• North America dominated the market as of 2021, which is attributable to supportive government initiatives promoting the adoption of surgical automation, telemedicine, and other advanced technologies to support the use of integrated solutions in operating rooms
• Market players are involved in extensive research for the development of cost-efficient and technologically advanced OR integration solutions. Subsequently, the introduction of such solutions is expected to provide the market with lucrative growth opportunities.
• In April 2021, Barco proclaimed its partnership with Sigma - Jones | AV LLP to deliver best-in-class digital experiences in healthcare for its next-gen operating room video integration solution Nexxis

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

Operating Room Integration Market Segmentation

Grand View Research has segmented the global operating room integration market by component, device type, application, end use, and region:

Operating Room Integration Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software
• Services

Operating Room Integration Device Type Outlook (Revenue, USD Million, 2017 - 2030)

• Audio Video Management System
• Display System
• Documentation Management System

Operating Room Integration Application Outlook (Revenue, USD Million, 2017 - 2030)

• General Surgery 
• Orthopedic Surgery
• Neurosurgery
• Others 

Operating Room Integration End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Ambulatory Surgical Centers (ASCs)

Operating Room Integration Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of Operating Room Integration Market

• Stryker
• Braiblab AG
• Barco
• Dragerwerk AG & Co. KGaA
• Steris
• KARL STORZ SE & CO. KG
• Getinge AB
• Olympus
• Care Syntax
• Arthrex, 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.