Engineering Services Outsourcing Market is Projected to Boost USD 9,398.95 Billion by 2030: Grand View Research Inc.

 Engineering Services Outsourcing Market Growth & Trends

The global engineering services outsourcing market size is anticipated to gain USD 9,398.95 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to record a CAGR of 24.6% from 2022 to 2030. The increasing demand for Information Technology (IT) services by various industries, such as automotive, manufacturing, retail & e-commerce, media & entertainment, and others, is exponentially driving the market growth.

The growing need for outsourcing services by companies to cut costs and optimally utilize the saved costs is expected to drive the market over the forecast period. The market has constantly been evolving in line with advancements in fields like the internet of things (IoT), connected computing, artificial intelligence (AI), and the sensing element, among other technologies. The intensifying competition to provide cutting-edge resolutions is driving service providers to finance aggressively in research & development.

Major ESO companies are also trying hard to emphasize mergers and acquisitions and bolstering the existing tie-ups with their clients to tap new business opportunities. For instance, in April 2022, the Kansas Department of Labor, a state agency for economic growth, chose Tata Consultancy Services Limited, an enterprise solutions provider, to build and run an advanced unemployment insurance system. The latter company is expected to support the state agency with the maintenance of its online systems and provide assistance during downtimes.

With the outburst of COVID-19, many organizations have faced the following lockdowns executed in almost all countries worldwide at the start of 2020. The aerospace industry has been adversely affected among the industry verticals due to the non-permanent shutdown of enterprises, production facilities, and daily operational logistics. On the other hand, the healthcare industry has been relatively unchanged as healthcare companies mainly worked on creating and developing advanced and custom Personal Protective Equipment (PPE) kits.

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Engineering Services Outsourcing Market Report Highlights

• The designing part is expected to record the most elevated CAGR of around 26.5% for the next eight years
• The industrial part is anticipated for the most significant revenue share in 2021 and is anticipated to continue overpowering the market for the next eight years
• The Asia Pacific ESO market is anticipated for the highest revenue share of over 41.0% in 2021, with the effortless availability of fairly low-cost and skilled aids in countries like India, China, the Philippines, and other East Asian countries
• The testing service segment registered the highest revenue share of around 31.0% in 2021 and is anticipated to dominate the market over the next eight years

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Engineering Services Outsourcing Market Segmentation

Grand View Research has segmented the automotive engineering services outsourcing market based on services, location, application, and region:

Engineering Services Outsourcing Services Outlook (Revenue, USD Billion, 2018 - 2030)

• Designing
• Prototyping
• System Integration
• Testing
• Others

Engineering Services Outsourcing Location Outlook (Revenue, USD Billion, 2018 - 2030)

• Onshore
• Offshore

Engineering Services Outsourcing Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Aerospace
• Automotive
• Industrial
• Consumer Electronics
• Semiconductors
• Healthcare
• Telecom
• Others

Engineering Services Outsourcing Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in the Engineering Services Outsourcing Market

• AKKA
• Alten Group
• Capgemini Engineering
• Entelect
• HCL Technologies Limited
• Infosys Limited
• Tata Elxsi
• Tata Consultancy Services Limited.
• Tech Mahindra Limited
• Wipro Limited

About Grand View Research

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

Video Conferencing Market Is Expected To Gain Significant Traction Over The Forecast Period: Grand View Research Inc.

 Video Conferencing Market Growth & Trends

The global video conferencing market size is expected to reach USD 19.73 billion by 2030, registering a CAGR of 12.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. The substantial growth can be ascribed to the increasing adoption of cloud technologies and Video Conferencing as a Service (VCaaS). The growing popularity of globalized working models has seemingly made video conferencing inevitable across several organizations.

The global outbreak of the COVID-19 pandemic forced several organizations to implement remote working, which created a significant demand for video conferencing software and applications such as Google Meet, Zoom, and Microsoft Teams. These applications are now playing a major role in facilitating employee collaboration and accelerating digital transformation. The heightened demand for these solutions is urging the market players to offer products with enhanced and distinguished features to gain a strong foothold. In 2020, Google LLC made its video meeting tool Google Meet generally available to remain competitive. The tool reportedly had more than 100 million meeting participants during that year.

Besides business communication, video conferencing technology is also gaining momentum for social interaction. The growing need to set up an affordable, flexible, and scalable communication network for effective team collaboration, communication, and decision-making capability will positively influence the industry statistics over the upcoming years.

The industry is also witnessing substantial growth in the healthcare sector due to the emerging trend of telehealth across the globe. The emergence of the pandemic drastically increased the adoption of telehealth solutions. According to a study conducted in 2020, telehealth usage during the initial pandemic period increased from around 1% to as high as 80% across the areas where coronavirus was highly prevalent.  

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Video Conferencing Market Report Highlights

• The software segment is anticipated to witness the highest CAGR of over 13.0% over the forecast period owing to the rising cloud-based subscriptions across several platforms.
• Video conferencing services are being highly adopted across the small and medium-sized companies to rapidly expand their global operations by deploying a centralized communication platform that uses advanced technologies, including 4G, 5G, and VoIP.
• With regards to end-use, the healthcare sector is estimated to record considerable growth over the coming years considering the rising demand for video conferencing solutions in this domain to connect the dispersed teams.
• The market is also witnessing a notable growth in the educational segment with the increasing usage of web conferencing, audio conferencing, and IM for streaming live conferences and delivering notes.
• Several major market players are forming strategic alliances with telecommunication companies to gain a competitive edge by offering high-quality services to the end-users.

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Video Conferencing Market Segmentation

Grand View Research has segmented the global video conferencing market based on component, deployment, enterprise size, application, end-use, and region:

Video Conferencing Component Outlook (Revenue, USD Million, 2018 - 2030)

• Hardware
  • Camera
  • Microphone/Headphone
  • Others
• Software
• Services
  • Professional Services
  • Managed Services

Video Conferencing Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise
• Cloud

Video Conferencing Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises
• Small and Medium Enterprises

Video Conferencing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Consumer
• Enterprise

Video Conferencing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Corporate
• Education
• Healthcare
• Government & Defense
• BFSI
• Media & Entertainment
• Others

Video Conferencing Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Video Conferencing Market

• Avaya, Inc.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Logitech International S.A.
• Microsoft Corporation
• Polycom Inc.
• Zoom Video Communications, 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.

Industrial Refrigeration Systems Market Expected to Witness a Sustainable Growth over 2030: Grand View Research Inc.

 Industrial Refrigeration Systems Market Growth & Trends

The global industrial refrigeration systems market size is estimated to reach USD 27.66 billion by 2030, registering a CAGR of 4.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for fast-moving consumer goods and retail food is expected to contribute to expanding the industrial refrigeration system market as there is a need for efficient storage of perishable edible items. Furthermore, governments' initiatives to support and strengthen cold chain infrastructures in developing nations and an increasing trend towards eco-friendly refrigeration systems due to inflexible regulatory policies are influencing factors driving the market growth.

Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower energy consumption, and less toxic materials. For instance, Danfoss, a prominent manufacturer of industrial refrigeration systems, introduced Coolselector 2 to help them design and optimize their air conditioning and refrigeration systems. System designers, engineers, and consultants can use the software to make optimum use of energy and HVACR systems. The benefits of using CO2 refrigeration systems are recognized worldwide as CO2 has a GWP (Global Warming Potential) of 1. The new update allows you to calculate components from the standpoint of an application for trans critical high-pressure side systems.

As concerns over refrigerants that contribute to global warming increase, alternative industrialized refrigerators are likely to develop. Emerging technology is magnetic refrigeration, which does not use a refrigerant, but liquid heating or cooling and is often water-based. Magnetic refrigeration also tends to be more efficient than conventional refrigeration. Additionally, nanotechnology is being widely tested and tried to optimize refrigeration system performance. The technology integrates the use of nanofluids that have excellent thermodynamic properties. However, more research is required in this field.

The COVID-19 pandemic caused transportation and manufacturing facilities and food production units to shut down. As a result, the sales of these refrigeration systems witnessed significant losses due to lower sales volume. However, vaccines and pharmaceuticals are contributing to the growth of the industrial refrigeration system as there is a global need to establish cold chains to preserve and supply the items in large quantities.

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Industrial Refrigeration Systems Market Report Highlights

• Approximately 57.9% of the market's revenue was generated by the food and beverage segment in 2021. Consumer demand for packaged and processed food is on the rise, which can be attributed to the segment's growth
• Over the next few years, the compressors market is predicted to grow at the highest CAGR of approximately 6.7%. One of the reasons for this growth is the availability of natural refrigerants, which can help compressors increase cooling capacity and reduce global warming
• Asia Pacific is predicted to grow fastest, with a compound annual growth rate (CAGR) of over 5.9% between 2022 and 2030. The cold chain market in the Asia Pacific is expected to grow in response to an increase in cold chain infrastructure adoption

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Industrial Refrigeration Systems Market Segmentation

Grand View Research has segmented the global industrial refrigeration systems market based on component, capacity, application, and region.

Industrial Refrigeration Systems Component Outlook (Revenue, USD Million, 2018 - 2030)

• Compressors
  • Rotary Screw Compressors
  • Centrifugal Compressors
  • Reciprocating Compressors
  • Other Compressors
• Condensers
• Evaporators
• Controls
• Others

Industrial Refrigeration Systems Capacity Outlook (Revenue, USD Million, 2018 - 2030)

• Less than 100 kW
• 100-500 kW
• 500kW-1,000kW
• 1,000kW-5,000kW
• More than 5,000 kW

Industrial Refrigeration Systems Application Outlook (Revenue, USD Million, 2018 - 2030)

• Refrigerated Warehouse
• Food & Beverage
• Chemical, Petrochemical, & Pharmaceutical
• Refrigerated Transportation

Industrial Refrigeration Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of key players of Industrial Refrigeration Systems market

• Johnson Controls.
• Emerson Electric Co.
• Danfoss
• GEA Group Aktiengesellschaft
• MAYEKAWA MFG. CO., LTD.
• BITZER Kühlmaschinenbau GmbH
• DAIKIN INDUSTRIES, Ltd.
• EVAPCO, Inc.
• Güntner GmbH & Co. KG
• LU-VE S.p.A.

About Grand View Research

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

Global Smart Antenna Market will be worth USD 14.49 Billion by 2030: Grand View Research Inc.

 Smart Antenna Market Growth & Trends

The global smart antenna market size is predicted to reach USD 14.49 billion by 2030 and is also anticipated to register a CAGR of 9.68% from 2022 to 2030, according to recent report by Grand View Research, Inc. The growing demand for updated technologies and high-quality wireless communication is driving the deployment of smart antennas. Smart antennas are utilized in various applications, including Wi-Fi, WiMAX, cellular, and RADAR systems. Benefits such as error-free communication, tailored data pathways, easy data flow, and co-channel interference prevention are expected to drive market growth.

The recent rise in demand for high-quality connectivity and advanced technology has created a space for the acceptance of smart antennas in the market. The smart antenna is used for multiple applications such as RADAR, mobile, WiMAX, Wi-Fi, etc. The Smart antenna also solves related problems such as seamless connectivity, easy data flow, and custom data channels. These are expected to improve the market in the forecasted period. High production and maintenance costs affect market growth opportunities. Robust wireless connectivity in an area such as North America has facilitated the widespread acceptance of smart antennas.

Furthermore, widespread use of this technology in devices such as laptops, personal digital assistants (PDAs), and smartphones contributes to market growth. These devices are equipped with various multimedia and internet that require faster internet and communication systems. Hence, the availability of custom signal processing centers on smart antennas also contributes to market growth. In addition, the development of smart car sticks serves as another major growth factor. These antennas are used in commercial and passenger vehicles for satellite-based navigation and to improve vehicle communication. Other factors, including extensive research and development (R&D) activities and significant growth in the IT industry, are expected to drive the market forward. 

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Smart Antenna Market Report Highlights

• The need for faster data transmission is driving the global smart antenna market. Growing usage of Smart antenna in range extension, reduction in the fading of signals, power control, and multiple access interferences will propel the overall market in the forecast period.
• Based on the application segment, the WiMAX system type of smart antenna is anticipated to grow with the highest CAGR of 11.41% during the forecast period of 2022-2030, a reason for which could be the higher range capacity of WiMAX system smart antenna.
• The North American regional segment has the largest market share of 31.06% in 2021, due to the rising demand for 5-G smart antennas and higher smartphone penetration in the region. Further, the use of smart antennae in developing countries of Latin America, Asia Pacific, and MEA is expected to grow during the forecasted period. 

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Smart Antenna Market Segmentation

Grand View Research has segmented the global smart antenna market based on application, technology, and region:

Smart Antenna Application Outlook (Revenue, USD Million, 2018 - 2030)

• Wi-Fi Systems
• WiMAX Systems
• Cellular Systems
• RADAR Systems

Smart Antenna Technology Outlook (Revenue, USD Million, 2018 - 2030)

• SIMO
• MIMO
• MISO

Smart Antenna Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • Japan
• Rest of the World

List of Key Players in Smart Antenna Market

• Airgain, Inc.
• Broadcom Inc.
• Intel Corporation
• Linx Technologies
• Motorola Solutions, Inc.
• Qualcomm Technologies, Inc.
• Sierra Wireless
• Telstra
• Texas Instruments Incorporated
• Trimble, 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.

Automotive Engineering Service Outsourcing Market Trends, Growth Prospects To 2030: Grand View Research Inc.

 Automotive Engineering Service Outsourcing Market Growth & Trends

The global automotive engineering services outsourcing market size is anticipated to reach USD 286.38 billion by 2030 registering a CAGR of 20.8% during the forecast period, according to a new report by Grand View Research, Inc. Increasing collaborative activities between Original Equipment Manufacturers (OEMs) and Engineering Service Providers (ESPs) to achieve promising technologies for performance enhancement, self-driving, and safety assurance adjustments are the factors anticipated to propel the automotive ESO market growth.

Furthermore, the government's introduction of strict emission norms for the effective utilization of fuels is predicted to contribute to the demand for the automotive ESO market. For instance, in January 2021, the U.S. President, Joe Biden, signed an executive order that addressed the climate crisis to protect the environment and public health. The order directed the Environmental Protection Agency (EPA) to propose revising, suspending, or rescinding the earlier set standard under the "The Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule for Model Years 2021–2026 Passenger Cars and Light Trucks".

The automotive ESO market has witnessed technological growth owing to the increasing demand for the shared mobility, electrification, and self-driving. Furthermore, key companies have incorporated cloud technologies into their product offerings to connect & access data and develop more autonomous products. For instance, in May 2018, Horiba, LTD's Smart Emissions Measurement System (SEMS) used the combination of a cloud server and database to obtain emission data, as there was a need to develop solutions for the emission measurement to build a cleaner future.

On the other hand, key participants in the market are impacted by regulations stressing the elimination or limitation of CO2 emissions, enhancing testing procedures, and limiting noise pollution specific to certain regions or countries. For instance, in India, the automobile industry regulations are set by various committees, such as the Central Motor Vehicle Rules-Technical Standing Committee, Standing Committee on Implementation of Emission Legislation (SCOE), and Automotive Industry Standard Committee (AISC).

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Automotive Engineering Service Outsourcing Market Report Highlights

• The infotainment & connectivity application part is anticipated to register the fastest CAGR for the next eight years. The availability of tethering to connect the vehicle with smartphones, built-in car Wi-Fi, corporate fleet management, and various other add-ons is expected to radically transform the user experience during the forecast period
• The prototyping services segment is anticipated to gain traction throughout the forecast period of eight years. The extensive deployment of prototypes by OEMs to evaluate designs, improve precision, and support in the completion of a successful production is driving the segment in the market
• The Asia Pacific regional market registered the highest revenue share in 2021, and it is anticipated to dominate the market during the forecast period. The region is poised to witness robust ESO market growth attributed to the reduced availability of skilled labor
• The automotive ESO market has evolved to incorporate a wide range of new product development, product support, and value engineering functions across numerous verticals, including automotive, aerospace, and industrial businesses

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Automotive Engineering Service Outsourcing Market Segmentation

Grand View Research has segmented the global automotive engineering service outsourcing market based on the application, service, location, and region:

Automotive Engineering Service Outsourcing Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Autonomous Driving/ADAS
• Body & Chassis
• Power train and After-treatment
• Infotainment & Connectivity
• Others

Automotive Engineering Service Outsourcing Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Designing
• Prototyping
• System Integration
• Testing
• Others

Automotive Engineering Service Outsourcing Location Outlook (Revenue, USD Billion, 2018 - 2030)

• On-shore
• Off-shore

Automotive Engineering Service Outsourcing Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of key players in Automotive Engineering Service Outsourcing Market

• Alten Group
• Altran (Capgemini Engineering)
• AVL List GmbH
• Bertrandt AG
• FEV Group GmbH
• Horiba, LTD.

About Grand View Research

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

Myopia And Presbyopia Treatment Market Industry Analysis , Opportunity Assessment And Forecast Till 2030: Grand View Research Inc.

 Myopia And Presbyopia Treatment Market Growth & Trends

Global myopia and presbyopia treatment market size is expected to reach USD 33.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030. Growing research and development in the targeted disorders is expected to drive the market considerably over the forecast period. Moreover, the growing prevalence of myopia and high myopia is anticipated to fuel the market growth during the forecast period. Incidences of myopia in the developing countries of Asia Pacific, such as Japan, China, Singapore, and the Republic of Korea, are growing steeply in recent years.

The growing prevalence of myopia and presbyopia is an opportunity for industry players to introduce efficient treatment solutions. Among the developed nations, the U.S. is witnessing a significant boost in the incidence of myopia and presbyopia, especially in individuals over 42 years of age. The introduction of technologically advanced surgical options and high adoption rates in developed countries are expected to boost the market growth in the upcoming years.

Advanced diagnostic and surgical treatment solutions include LASIK, LASEK, and PRK. The integration of these techniques with artificial intelligence and robot-assisted surgical tools is expected to fuel the number of surgical procedures. The introduction of multifocal intraocular lenses and implantable contact lenses is expected to have a positive impact on the market growth.

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Myopia And Presbyopia Treatment Market Report Highlights

• By myopia treatment type, single prescription corrective lenses held a significant share in the market in 2021 owing to the progression of myopia with age, thus requiring frequent changes of corrective lenses
• Based on presbyopia treatment type, the progressive multifocal segment is expected to grow significantly over the forecast period owing to the wide acceptance due to aesthetic advantages
• Multifocal contact lenses for the correction of presbyopia held the second-largest share in 2021 largely due to the easy availability and effective outcomes
• North America was the leading regional market in 2021 due to the rising demand for myopia and presbyopia contact lenses for vision correction
• The Asia Pacific region is anticipated to expand at the fastest growth rate during the forecast period due to the rising incidence of ophthalmic diseases and the growing geriatric population across several countries in Asia

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Myopia And Presbyopia Treatment Market Segmentation

Grand View Research has segmented global myopia and presbyopia treatment market report based on type and region:

Myopia Treatment Type Outlook (Revenue, USD Million, 2017 - 2030)

• Corrective
  • Prescription Lenses
    • Single
    • Bifocal
    • Trifocal
    • Others
  • Contact lenses
• Surgical
• Drugs

Presbyopia Treatment Type Outlook (Revenue, USD Million, 2017 - 2030)

• Prescription Lenses
  • Reading Glasses
  • Bifocals
  • Trifocals
  • Progressive Multifocals
  • Office progressives
• Contact Lenses
  • Bifocal
  • Multifocal
  • Monovision
  • Modified Monovision
• Intraocular Lenses
• Refractive surgery

Myopia And Presbyopia Treatment Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in Myopia And Presbyopia Treatment Market

• Ziemer Ophthalmic Systems AG
• NIDEK CO., LTD.
• Johnson & Johnson Vision
• Essilor Ltd.
• Zeiss International
• ALCON VISION LLC
• Bausch & Lomb Incorporated
• Haag-Streit UK
• Topcon Corporation

About Grand View Research

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

Vehicle Tracking System Market Poised to Expand at a Robust Pace Over 2030: Grand View Research Inc.

 Vehicle Tracking System Market Growth & Trends

The global vehicle tracking system market size is anticipated to be worth USD 60.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 13.9% from 2022 to 2030. Factors such as technological iterations and growing digitization within the automotive industry, paired with the continuous growth of t he logistics and automobile industry worldwide, are encouraging the growth of the market. The surge in the sales of heavy and light commercial vehicles is also expected to drive the growth of the market.

The surge in adoption of mobility-as-a-service (MaaS) by numerous companies such as Ola, Rapido, and Bounce aimed at reducing carbon emission and traffic congestion on urban streets is also driving the market growth. These companies have introduced the concept of carpooling, sharing, and taxi-hailing for daily commuters as an option for public transport such as bus and metro and private vehicles. The tracking systems installed in these vehicles are beneficial for both the companies and commuters. The software and hardware facilitate features such as tracking vehicle status, driver behavior tracking in real time, and price comparing for different vehicles, such as sedans or prime sedans.

The improved connectivity network technology and services have led to the adoption of connected car tracking systems. The sensor and cameras embedded in the vehicle are enabled to transfer real-time data and collect intel on the vehicle's speed and distance traveled, current location, air pressure, and fuel consumption. The extensive implementation of cloud computing technology facilitates analysis, computation, storage, and access to data without compromising the vehicle owner's personal information. Thus, the application of cloud technology in vehicle tracking systems is expected to create new avenues of market growth opportunities.

North America has registered a significant market share and is expected to showcase stable growth over the forecast period. However, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. Factors such as high automobile sales in Asia Pacific's heavily populated countries such as India and China and the growing influence of e-commerce are driving market growth in the region.

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Vehicle Tracking System Market Report Highlights

• The market is expected to witness growth owing to increased logistics operation by road for the domestic and international market
• The growing need for fleet management in industries such as construction, manufacturing, and retail is driving the demand for hardware and software components of vehicle tracking systems
• Regions such as North America, Asia Pacific, and Europe are expected to register significant growth in the market

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Vehicle Tracking System Market Segmentation

Grand View Research has segmented the global vehicle tracking system market based on vehicle type, end use, technology type, type, component, and region:

Vehicle Tracking Systems Vehicle Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Vehicle Tracking Systems End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Transportation & Logistic
• Construction & Manufacturing
• Aviation
• Retail
• Government & Defense
• Other

Vehicle Tracking Systems Technology Type Outlook (Revenue, USD Billion, 2018 - 2030)

• GPS/Satellite
• GPRS/Cellular Network
• Dual Mode

Vehicle Tracking Systems Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Active
• Passive

Vehicle Tracking Systems Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware
  • OBD Device/ Tracker and Advance Tracker
  • Standalone Tracker
• Software
  • Performance Management
  • Vehicle Diagnostics
  • Fleet Analytics & Reporting
  • Driver Behavior Monitoring
  • Others

Vehicle Tracking Systems Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in the Vehicle Tracking System Market

• Verizon
• Geotab Inc.
• Cartrack
• Tom Tom International B.V.
• CalAmp
• Teltonika

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.

Automotive Engine Market Competitive Insight and Key Drivers 2022 to 2030: Grand View Research Inc.

 Automotive Engine Market Growth & Trends

The global automotive engine market size is expected to reach USD 118.2 billion by 2030, registering a CAGR of 2.5% over the forecast period, according to a new report by Grand View Research, Inc. The consumer inclination for high-performing automobiles in the mid and high-end segment vehicles is prompting the manufacturers to develop prototypes of engines that are fuel-efficient and have higher torque. Regulatory standards for fuel efficiency and the development of technologically advanced powered engines for improved automobile performance are the major factors driving the demand in the market. The increasing sales of commercial and passenger cars in developing countries are propelling the demand for automobile engines in the region.

Several companies, such as Ford Motor Corporation, Fiat Automobiles S.p.A., Honda Motor Company, Ltd., and General Motors, are developing compact engines with higher torque and lower emissions. The demand for improved engine performance and higher fuel efficiency to comply with government regulations to reduce vehicle emissions has led to the development of engines producing lesser carbon emissions. These developments are further impacting the market growth. Automobile manufacturers' competitive pricing of cars offering the different features in the same segment has boosted demand for passenger cars in emerging countries leading to more refined engine technology development.

Asia Pacific is projected to grow substantially over the forecast period owing to the technological advancements in automotive, rising ownership of automobiles, and an increase in the per capita income of people. The improved living standards in the Asia Pacific region prompt car manufacturers to launch mid and high-end segment cars with powerful engines and budget-friendly prices. Stringent government regulations and emission norms have been implemented in this region. All these factors bode well for the growth of the market.

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Automotive Engine Market Report Highlights

• The passenger cars by vehicle segment is held the highest revenue share of over 60% in 2021
• Rapidly rising demand for electric cars is attracting key competitors in the Asia Pacific region
• Stringent fuel efficiency regulatory standards and rising demand for technologically advanced powered engines for improved vehicle performance are the major growth drivers for an automotive engine
• The development of hydrogen engines as an alternative to fossil-fuel-powered engines is creating new growth trends in the market

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Automotive Engine Market Segmentation

Grand View Research has segmented the global automotive engine market based on placement type, fuel type, vehicle type, and region:

Automotive Engine Placement type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 - 2030)

• In-line engine
• V- type
• W engine

Automotive Engine Fuel Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 - 2030)

• Diesel
• Gasoline
• Other Fuel

Automotive Engine Vehicle Type (Volume, Thousand Units; Revenue, USD Billion, 2018 - 2030)

• Passengers Cars
• Commercial Vehicles

Automotive Engine Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in the Automotive Engine Market

• AB Volvo
• Cummins Inc.
• Fiat Automobiles S.p.A
• Volkswagen AG
• Ford Motor Company
• Mitsubishi Heavy Industries, Ltd.
• General Motors
• Honda Motor Co., Ltd.
• Mercedes-Benz
• Renault Group

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. Healthcare Finance Solutions Market Advanced Technologies and Growth Opportunities Worldwide By 2030

 U.S. Healthcare Finance Solutions Market Growth & Trends

The U.S. healthcare finance solutions market size is expected to reach USD 89.8 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.7% from 2022 to 2030 The need for capital investment and the development of healthcare infrastructure are some of the key factors boosting the growth of the market. The COVID-19 pandemic has positively changed the growth projections of the market.

Healthcare is an evolving and expanding industry. The increasing prevalence of diseases, advances in digital technology, and the introduction of novel drugs and medicines have led to a rise in healthcare demand and expenditure. In today’s world, the healthcare system is shifting from volume to value-based care to improve patient care and engagement. Competitive pricing & improved quality of healthcare services and changes in reimbursement plans in the U.S. are expected to drive the healthcare finance solutions market over the forecast period.

The COVID-19 pandemic has increased the adoption of digitalization in healthcare. It has increased the requirement for funding in the healthcare sector to maintain the cash flow of day-to-day activities. With increased costs related to COVID-19 and the lost revenue from the cancellation of outpatient office visits, elective surgeries, and elective procedures, hospitals throughout the country became financially stressed.

The increasing consumer demand and frequently changing laws are also contributing to the growth. For instance, in 2016, the mission of The Department of Health and Human Services has entailed improving patient outcomes and reducing medical costs. These changes are driving the need for financial services in the healthcare sector. Also, the requirement for investment in advanced and innovative technology and services to reduce the overall healthcare expenditure is expected to propel the market growth during the forecast period.

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U.S. Healthcare Finance Solutions Market Report Highlights

• Based on equipment type, the decontamination equipment segment held about 36.0% of the market share in 2021 due to the high cost of equipment
• Based on healthcare facilities, the hospitals & health systems segment dominated the market in 2021 with a share of 24.9% due to the increasing prevalence of chronic diseases and the need to treat them along with handling patient data
• Equipment and technology finance services dominated the market in 2021 with a 45.0% revenue share due to the rising need for financial assistance for providing medical care services to patients
• Private players in the largest lender segment account for 51.1% of the market share in 2021 This is attributed to the factors such as great ROI, various tax benefits & offers provided by the private players

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U.S. Healthcare Finance Solutions Market Segmentation

Grand View Research has segmented the U.S. healthcare finance solutions market based on equipment type, healthcare facility type, services, and lenders:

U.S. Healthcare Finance Solutions Equipment Type Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic/Imaging Equipment
• Specialist Beds
• Surgical Instruments
• Decontamination Equipment
• IT Equipment

U.S. Healthcare Finance SolutionsHealthcare Facility Type Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Health Systems
• Outpatient Imaging Centers
• Outpatient Surgery Centers
• Physician Practices & Outpatient Clinics
• Diagnostic Laboratories
• Urgent Care Clinics
• Skilled Nursing Facilities
• Pharmacies
• Other Healthcare Providers

U.S. Healthcare Finance SolutionsServices Outlook (Revenue, USD Million, 2018 - 2030)

• Equipment & Technology Finance
  • Government & Other Federal Agencies
  • Private Players
  • Others
• Working Capital Finance
  • Government & Other Federal Agencies
  • Private Players
  • Others
• Project Finance Solutions
  • Government & Other Federal Agencies
  • Private Players
  • Others
• Corporate Lending
  • Government & Other Federal Agencies
  • Private Players
  • Others

U.S. Healthcare Finance SolutionsLenders Outlook (Revenue, USD Million, 2018 - 2030)

• Government & Other Federal Agencies
• Private Players
• Others

List of Key Players in the U.S. Healthcare Finance Solutions Market

• Siemens Financial Services, Inc.
• General Electric Company
• Commerce Bankshares, Inc.
• Thermo Fisher Scientific, Inc.
• Siena Healthcare Finance
• CIT Group, Inc.
• Stryker
• Gemino Healthcare Finance
• Oxford Finance LLC
• TCF Capital Solutions

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.

Missouri Market For Medical Cannabis to Witness Tremendous Growth and Expansion by 2030

 Missouri Medical Cannabis Market Growth & Trends

The Missouri medical cannabis market size is expected to reach USD 2.02 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 22.7% from 2022 to 2030. Growing evidence of marijuana's health advantages, rising patient knowledge regarding these benefits, and an increase in the prevalence of chronic conditions are the major factors contributing to the market growth. In addition, since November 2018, Missouri has allowed the cultivation, processing, manufacturing, and distribution of medical cannabis. Since then, a sharp rise has been witnessed in the sales of medical cannabis, thereby impelling the growth in the state.

Based on application, the chronic pain segment dominated the market in 2021 with a share of over 25.0% owing to a large patient pool. Pains associated with neurogenic issues, arthritis, low back issues, cancer, headache, neck-related issues, and face-related issues are just a few of the several types of chronic pain. Medical marijuana has been said to help people who are suffering from pain. The market is likely to witness growth during the forecast period as a growing number of people are understanding the importance and benefits of the intake of cannabis-based products.

Based on product, the oils and tinctures segment accounted for the largest revenue share in 2021. Some of the major factors responsible for the segment growth are benefits provided by the utilization of oils and tinctures over smoking flowers and ease of use. In addition, this segment is anticipated to grow at the fastest rate during the forecast period owing to its increasing demand from patients undergoing treatment for health conditions such as PTSD, epilepsy, autism, and chronic pain.

In practically every business, the COVID-19 pandemic has resulted in massive lockdowns, disrupting daily operations and affecting consumer behavior. Retail stores have been closed as the backlash to COVID-19 grows. Due to the suspension of the logistics industry in major raw material-producing countries such as China and India, the market began to experience a supply deficit. Furthermore, supply chain interruptions across the U.S. has led to a tremendous strain on the supply of additional raw materials, thereby constraining the market growth. In addition, this has impacted the manufacturing of cannabis products, and hence the supply chain for medical cannabis in the state has been disrupted.

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Missouri Medical Cannabis Market Report Highlights

• The legalization of marijuana for medical purposes and the increasing number of people who qualify are likely to bolster the market growth in Missouri
• Due to factors such as the rising demand for cannabis extracts, the legalization of marijuana for the treatment of various chronic diseases, and new cannabis extract product launches, the oil and tinctures product segment dominated the market in 2021 with a revenue share of over 50.0%
• By application, chronic pain led the market with a revenue share of over 25.0% in 2021. This is due to a growth in the use of medicinal cannabis as an efficient therapy for acute pain owing to its ability to dull the perceptions and anti-inflammatory qualities

Access Press Release@ https://www.grandviewresearch.com/press-release/missouri-medical-cannabis-market-analysis

Missouri Medical Cannabis Market Segmentation

Grand View Research has segmented the Missouri medical cannabis market based on product and application:

Missouri Medical Cannabis Product Outlook (Revenue, USD Million, 2018 - 2030)

• Flower
• Oils & Tinctures

Missouri Medical Cannabis Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cancer
• Chronic Pain
• Depression & Anxiety
• Arthritis
• Diabetes
• Glaucoma
• Migraines
• Epilepsy
• Multiple Sclerosis
• Others
  • AIDS
  • Amyotrophic Lateral Sclerosis
  • Alzheimer’s
  • Post-Traumatic Stress Disorder (PTSD)
  • Parkinson's
  • Tourette’s
  • Others

List of Key Players of Missouri Medical Cannabis Market

• BeLeaf Medical
• Blue Sage Cannabis Co.
• Show Me Alternatives
• Heya Wellness
• Missouri Wild Alchemy
• Organic Remedies
• Holistic Industries
• Kansas City Cannabis
• LOCAL CANNABIS COMPANY
• MOcann Extracts

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.