Colombia Hydrogen Generation Market Latest Innovations, Drivers and Industry Key Events 2022 – 2030: Grand View Research Inc.

 Colombia Hydrogen Generation Market Growth & Trends

The Colombia hydrogen generation market size is expected to reach USD 766.97 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 10.6% from 2022 to 2030. The growth can be attributed to the rising demand for cleaner fuel and increasing governmental regulations for the desulphurization of petroleum products. Hydrogen is an effective energy carrier, which is expected to contribute significantly to its further penetration into newer markets. Colombia’s electricity demand is anticipated to witness an increase of nearly two-thirds of the current demand over the forecast period. Focus on projects related to distributed power & utility is anticipated to bolster the demand for hydrogen generation in the country.

The steam methane reforming segment was dominant in 2021 with a revenue share of 95.21% and is expected to continue leading over the forecast period. Steam methane reforming is a method for producing hydrogen, along with other gases including carbon monoxide and carbon dioxide. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across Colombia is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.

Based on application, the ammonia production segment led the market in 2021 with a share of more than 50.0%. The ammonia segment will keep its lead during the forecast period. The future growth of the hydrogen generation industry is anticipated to have steady growth as application cases for hydrogen increase. For instance, the development of a renewable ammonia project near the city of Barranquilla, on Colombia's Caribbean coast, has been agreed to by local power company Alumbrado Público Barranquilla (APBAQ) and Colombian fertilizer manufacturer Monómeros. A 350 MW offshore wind farm supported by Copenhagen Infrastructure Partners will power the manufacturing of ammonia and is anticipated to start producing power in 2026. The Colombian government unveiled an ambitious offshore wind energy program in March. The Caribbean coast holds the majority of the 50 GW potential.

Based on systems, the captive generation segment led the market in 2021. Captive generation of hydrogen is defined as on-site generation that abolishes several problems linked to the conveyance and distribution of hydrogen, and therefore the market is expected to grow substantially. Captive hydrogen production is the most commonly used supply route in Colombia and neighboring countries and the region is engaged with small volumes of merchant hydrogen production. The captive generation segment is expected to keep its lead during the forecast period.

Growing investments in smart “energy-saving” residential and commercial buildings are expected to provide an impetus toward the adoption of hydrogen for energy generation. Hydrogen is a financially viable option to investors as they also comply with federal and environmental regulations, catering to the ever-increasing demand for energy. Factors including shifting trends toward cleaner energy and favorable government regulations are contributing to the development of the market for hydrogen generation in Colombia.

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Colombia Hydrogen Generation Market Report Highlights

• In terms of revenue, the steam methane reforming segment accounted for a prominent share in 2021 and is further expected to witness steady growth over the forecast period
• The ammonia production segment accounted for a leading share of more than 50.0% in terms of revenue in 2021
• Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, The Colombian government has released a Hydrogen Roadmap that lays out the next 30 years (until 2050) for the research, generation, and use of hydrogen as a cleaner energy source and supports Colombia's move toward clean energy
• The Inter-American Development Bank (IDB) provided funding for the development of the regulatory sandbox of this plan, which was created with the assistance of the consulting firm i-deals. The roadmap aims to give Colombia the resources it needs to benefit from the wind and solar energy projects it has been creating, due to a strong regulatory environment that includes significant tax advantages

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Colombia Hydrogen Generation Market Segmentation

Grand View Research has segmented the Colombia hydrogen generation market based on technology, application, and system:

Colombia Hydrogen Generation Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2019 - 2030)

• Steam Methane Reforming
• Coal Gasification
• Others

Colombia Hydrogen Generation Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2019 - 2030)

• Methanol production
• Ammonia Production
• Petroleum Refining
• Transportation
• Power Generation
• Others

Hydrogen Generation Systems Outlook (Volume, Kilo Tons; Revenue, USD Million, 2019 - 2030)

• Captive
• Merchant

List of Key Players in the Colombia Hydrogen Generation Market

• Linde plc
• Air Products and Chemicals, Inc
• Air Liquide
• Messer SE & Co. KGaA
• SOL SpA
• Claind srl
• HYGEAR
• Siemens Energy
• Engie
• Cummins 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.

Biopharma Plastics Market Significant Profits Estimated to be Generated by 2030: Grand View Research Inc.

 Biopharma Plastics Market Growth & Trends 

The global biopharma plastics market size is expected to reach USD 11,290.12 million by 2030, expanding at 11.3% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The rise in global healthcare expenditure for research & development of biopharma plastics is anticipated to drive the market. In addition, the rising demand for biopharmaceuticals, owing to the increasing cases of cancerous patients across the globe, is anticipated to propel the demand for biopharma plastics. 

Plastics are widely used in this industry due to their versatility, durability, and cost-effectiveness. The use of plastics in biopharma applications includes packaging and delivery systems, laboratory equipment, diagnostic devices, and drug delivery devices. 

The global biopharma plastics industry is expected to experience significant growth in the coming years. This growth is driven by factors such as the increasing demand for biopharmaceuticals, the growing prevalence of chronic diseases, and the rise in healthcare expenditure. Additionally, the need for more advanced and innovative packaging and delivery systems for biopharmaceuticals is also expected to drive market growth. 

Moreover, the biopharma industry is increasingly focused on sustainability and reducing its environmental footprint. This has led to a growing demand for biodegradable and recyclable plastics that can be used in biopharma applications. Companies are investing in research and development to create more sustainable plastics that meet the needs of the biopharma industry. 

The biopharma industry is characterized by a high level of research and development activity, as companies invest in developing new drugs and delivery systems. This is driving demand for specialized biopharma plastics that can support this research and development, such as laboratory equipment and diagnostic devices.

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Biopharma Plastics Market Report Highlights

• Asia Pacific accounted for the largest revenue share of 30.67% of the global biopharma plastics industry in 2022 and is expected to continue its dominance over the forecast period. This can be attributed to the increasing R&D and rising demand for high-quality biopharma plastic devices and components from the oncology industry across the region
• Based on application segmentation, syringes accounted for a maximum share of 20.55% in 2022 and are likely to remain dominant over the forecast period. This is attributed to its compatibility with a wide range of biopharmaceutical products, including vaccines, antibiotics, insulin, and other injectable drugs. Moreover, the increasing demand for prefilled syringes to enhance surgical procedures is likely to boost the demand for biopharma plastics for manufacturing syringes
• In the polymer type segmentation, polyvinyl chloride(PVC) dominated the market in 2022, with a market share of 21.56%. This is attributed to the various properties of PVC including flexibility, compatibility, and durability, making it suitable for manufacturing depth filters for stem cell extraction. Due to its versatility, PVC can be easily molded into different shapes and sizes, making it ideal for various applications in the biopharma industry
• In April 2023, PSG Group International, one of the leading global pump, metering, and dispensing-solution company, launched a new biotech brand with the name ‘PSG® Biotech for life science and Biopharma’.

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Biopharma Plastics Market Segmentation

Grand View Research has segmented the global biopharma plastics market based on polymer type, application, and region: 

Biopharma Plastics Polymer Type Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Polyethylene (PE)
• Polypropylene (PP)
• Acrylonitrile Butadiene Styrene (ABS)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polytetrafluoroethylene (PTFE)
• Polycarbonate (PC)
• Other

Biopharma Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Protective Wear
• Containers
• Bioreactor Bags
• Syringes
• Depth Filters
• Disposable Medical Connectors
• Others

Biopharma Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

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

List of Key Players in the Biopharma Plastics Market

• BASF SE
• LyondellBasell Industries Holdings B.V.
• SABIC
• LG Chem
• Toray Industries, Inc.
• Solvay
• Dow, Inc.
• DuPont de Nemours, Inc.
• Saint-Gobain Performance Plastics
• Tekni-Plex
• Chevron Phillips Chemical Co., LLC
• Exxon Mobil Corporation
• Formosa Plastics Corporation
• Covestro AG
• TEIJIN LIMITED
• Mitsui & Co. Plastics Ltd.
• INEOS Group
• CHIMEI

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.

Microcarriers Market Will See Strong Expansion Through 2030: Grand View Research Inc.

 Microcarriers Market Growth & Trends

The global microcarriers market size is estimated to reach USD 3.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.6% from 2022 to 2030. The growth of the market is driven by the rising demand of cell-cultured products, the growing burden of diseases worldwide, constant investments for intensive R&D activities to identify and develop new treatments for rare disorders, and the continuous developments in technologies employed in advanced research such as cell-biology.4

Amidst the COVID-19 pandemic, the market witnessed a positive growth. The continuous strive of scientist and researchers to find and develop vaccines for the SARS-CoV2 virus resulted in scaling up of R&D efforts by both healthcare companies and academic institutes. The increased research activities, huge funding, and growing demand of therapeutic products resulted in the growth of the market. Moreover, development of viral vectors based vaccines requires efficient production of viruses which is possible using microcarriers cell-culture. For instance, scientists from University of Copenhagen demonstrated in their research article published in June 2021 that SARS-CoV2 virus was efficiently produced in Vero cells in a single-use bioreactors packed with carrier beads. Findings like these have boosted the COVID-19 vaccine production further propelling market growth.

Moreover, the marketspace is rapidly expanding owing to the high usage of microcarriers as matrix for adherent cell manufacturing and these small spherical beads are used across all scales of commercial production. The increasing demand of innovative therapeutic options such as cell and gene therapy, viral vaccines, and monoclonal antibodies for treatment of malignant and rare diseases has resulted in increase in the biopharmaceutical production capacities. For example, Pfizer Inc., announced in December 2021 that it has invested USD 68.5 million and opened a new facility in North Carolina, USA. With the expansion the company is focused on enhancing its gene therapy capabilities and clinically develops its portfolio for hemophilia A and B, DMD (Duchenne muscular dystrophy), ALS (amyotrophic lateral sclerosis) and many more neurologic, endocrine as well as metabolic diseases. Such increased investments for development of biopharmaceuticals and regenerative medicines are expected to propel the market growth.

Furthermore, cell-biology based research involves exhaustive R&D for developing new therapies. But these efforts require investments for cell lines, media, equipment and other related products for microcarriers culture and thus requires huge influx of money. Institutes and emerging players with budget constraints will limit the cell based research for therapeutics development. Hence, it will decrease the adoption of cell-culture products and restrain the growth. However, government initiatives for novel drug production and collaboration & partnerships with key players can offer investment relief and enhance the market growth.

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Microcarriers Market Report Highlights

• By consumables, the microcarriers beads segment held the largest revenue share in 2021. Presence of key players offering the products along with their continuous usage during bio-manufacturing process drives market growth
• By application, the biopharmaceutical production segment dominated the market in 2021. Increased demand for vaccine during the COVID-19 pandemic and continuous regulatory support for therapeutics boosts the usage of microcarriers during bio-manufacturing, leading to highest segment share
• By end-user, the pharmaceutical and biotechnology companies are the highest revenue generators in microcarriers market in 2021. New drug development programs, intensive R&D pipeline, growing investments for therapeutic products contributes to the revenue generation
• North America region captured the largest share in 2021 for microcarriers market. The major factors for the regional dominance are prevalence of diseases, presence of key market players, high usage of cell based products, and supportive government initiatives
• Asia Pacific region will witness the fastest growth in the microcarriers market during the forecast, due to rising R&D activities, increased domestic demand of biologics and growing economies

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

Microcarriers Market Segmentation

Grand View Research has segmented the global microcarriers market based on consumables, application, end-user, and region:

Microcarriers Consumables Outlook (Revenue, USD Million, 2018 - 2030)

• Media & Reagents
• Microcarrier Beads
  • Collagen Coated Beads
  • Cationic Beads
  • Protein Coated Beads
  • Untreated Beads
  • Others

Microcarriers Application Outlook (Revenue, USD Million, 2018 - 2030)

• Biopharmaceutical Production
  • Vaccine Production
  • Therapeutic Production
• Regenerative Medicine

Microcarriers End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations & Contract Manufacturing Organizations
• Academic & Research Institutes

Microcarriers Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Microcarriers Market

• Thermo Fisher Scientific, Inc.
• Merck KGaA
• Danaher Corporation
• Sartorius AG
• Corning Incorporated
• Eppendorf SE
• Bio-Rad Laboratories, Inc.
• HiMedia Laboratories Pvt. Ltd.
• denovoMATRIX GmbH

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.

Social Networking App Market To Make Great Impact In The Near Future by 2030: Grand View Research Inc.

 Social Networking App Market Growth & Trends

The global social networking app market is expected to reach USD 310.37 billion by 2030, growing at a CAGR of 26.2% from 2023 to 2030, according to the new report by Grand View Research, Inc. The market growth is attributable to the growing demand for digital marketing services across the globe. Rapidly growing demand for inbound marketing strategies in emerging economies such as China and India is bolstering business growth.

Additionally, the digital revolution across the world is supplementing market growth. Moreover, the surge in the adoption of live streaming-based content apps in North America is propelling market growth. According to Pew Research Center, 68% of U.S. users are accessing Facebook through their mobiles. Rising demand for paid advertising services in the U.K. is anticipated to boost market growth.

Social media is an excessive catalyst to drive the website of personal business. Key players are focusing to provide text-to-speech features for social networking apps. The prime key players are offering multiple language support with an advanced user interface. Multiple companies are providing biometric traits to improve security concerns. Low-latency modes with near-field communication are propelling the market growth.

Apple iOS Store segment will register the highest growth in the forecast period. This can be attributed to the growing demand for virtual social platforms from the consumers of the U.S. and U.K. Additional security concerns and real-time threat notifications features are refueling the business growth. Easy video management, portraits with studio light, and automatic updates are reflecting the significant market growth during the forecast period.

The smartphone segment will register the highest growth in the forecast period, which can be attributed to the growing use of smartphones across the globe. The most popular mobile device worldwide is a smartphone that can run apps and connect to the internet. Social networking apps like Instagram, Facebook, Snapchat, and WhatsApp, among others, are popularly used on smartphones. As internet access and smartphone use expand worldwide, which in turn is boosting the social networking app market growth.

Asia Pacific made the largest contribution in the global social networking app of over 44% share in 2022 due to the rising demand for high-quality snap filters from the consumer the China and India. The rising trend in China to adopt hyperlapse integrations is propelling market growth. The market share of India is driven by the rising demand for voice navigation-based social networking apps.

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Social Networking App Market Report Highlights

• The google play store segment accounted for the highest market share of over 53% in 2022. The growth can be attributed to the increasing number of social networking apps available on the Google Play store.
• The smartphone segment accounted for the highest market share of over 90% in 2022. The segment's growth can be attributed to the growing penetration of smartphones globally. As most of the social networking apps are supported by smartphones with internet access in turn boosting the market growth.
• Advertising segment accounted for the highest market share of more than 64% in 2022. Companies generate most of the revenue from the advertising. Further, advertising on social media apps will help the users in building the brand, improve the conversion rates, reach new customers among others.
• The Asia Pacific regional market is anticipated to hold the largest market share of more than 44% in 2022. The regional growth can be attributed to the growing demand for AI-powered social networking apps for business networking.
• Europe is projected to witness a CAGR of 31.4% from 2023 to 2030. Soaring demand for machine learning based chat services in the U.K. is estimated to escalate the market growth over the forecast period.
• Prominent players of the market include Reddit, Meta, Twitter, Meet Up, Tapebook, Tumblr, Viber, Whisper, Line, and Yubo.

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Social Networking App Market Segmentation

Grand View Research has segmented the global social networking app market report based on marketplace type, device type, and region:

Social Networking App place Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Google Play Store
• Apple IOS Store
• Microsoft Store
• Others

Social Networking App Device Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Smartphones
• Others

Social Networking App Revenue Source Outlook (Revenue, USD Million, 2017 - 2030)

• Advertising
• In-App Purchase
• Paid App

Social Networking App Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in Social Networking App Market

• Reddit
• Meta
• Twitter
• Meet Up
• Tapebook
• Tumblr
• Viber
• Whisper
• Line
• Yubo

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.

Expansion of Enterprise Software Market During 2022– 2030 to Gain Robust Traction: Grand View Research Inc.

 Enterprise Software Market Growth & Trends

The global enterprise software market size is expected to reach USD 517.26 billion by 2030, expanding at a CAGR of 11.5% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The market growth can be attributed to increasing focus of various end-use organizations on digitalizing their business operations, high demand for data-driven decision-making tools, and increasing adoption of cloud computing and data analytics technologies. With enterprise software, organizations are automating various daily tedious tasks, improving their marketing and sales divisions to increase client conversion rates, and modifying business processes to meet evolving market needs. Due to this, demand for enterprise software is expected to increase notably in the forecast period.

The growing number of e-commerce companies and various companies’ preference for enhancing their digital channel interfaces to improve the consumer experience are expected to drive the market in the retail sector. The industry players are strengthening their retail technology solution portfolio to bring innovations in retail-specific enterprise software. For instance, in August 2020, enterprise software provider, Aptean, acquired the product lifecycle management division of retail technology solution company, Aptos. This acquisition will help Aptean expand its cloud-based enterprise software offerings for fashion, luxury, and other retail industries. Moreover, in April 2022, Software AG acquired software services provider, StreamSets for an undisclosed amount. The acquisition will enable Software AG to manage its clients’ data transfer between cloud data platforms, on-premise applications, and other legacy data stores.

Growing demand for enterprise software is encouraging startups to enter this potential industry. The startups are focusing on offering enterprise software at reasonable costs and raising funds to improve their global networks and consumer base. For instance, in March 2022, Locofy.ai, an enterprise software company, raised USD 3 million in a funding round organized by various investing firms such as Boldcap, Golden Gate Ventures, Accel, and January Capital. The company will utilize this funding to expand its software development team and R&D capabilities. Moreover, in July 2022, ElevateHQ, a Business-to-Business (B2B) software provider, raised USD 1.1 million in a funding round of a financial company, Leo Capital. Such an initiative by startups will create a positive outlook for the market in the forecast period.

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Enterprise Software Market Report Highlights

• The enterprise resource planning softwaresegment is anticipated to expand at a CAGR of 10.7% from 2022 to 2030. Increasing supportive initiatives by the government for digital technologies and the high usage of ERP tools for streamlining the business processes for effective resource utilization is expected to fuel the segment growth from 2022 to 2030
• The cloud deployment segment is expected to register a CAGR of 13.6% from 2022 to 2030 owing to advancements in cloud technologies and reasonable subscription plans introduced by market players. The cloud-based enterprise software offers better working flexibility, a creative user interface, and low operating costs, supporting the market trend
• The small and medium enterprise (SMEs) segment is expected to expand at a CAGR of 13.2% from 2022 to 2030. SMEs are notably adopting enterprise software to reduce their maintenance and inventory costs and improve their workflow capability for better internal collaborations
• The healthcare segment is anticipated to expand at a CAGR of 13.6% from 2022 to 2030. Intense competition between pharmaceutical equipment firms, rising focus on improving the remote medical treatment ecosystem, and high growth in the pediatric and geriatric populations are creating a favorable environment for enterprise software in the healthcare sector
• Asia Pacific is expected to register a CAGR of 13.4% from 2022 to 2030 owing to the significant penetration by global market players, remarkable technological advancements in the software industry, and emerging startups in various countries such as India, Singapore, Australia, Japan, and Thailand

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Enterprise Software Market Segmentation

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

Enterprise Software Outlook (Revenue, USD Billion, 2017 - 2030)

• Enterprise Resource Planning (ERP) Software
• Business Intelligence Software
• Content Management Software
• Supply Chain Management Software
• Customer Relationship Management Software
• Others (Marketing, Human Resource Management, Payment Processing)

Enterprise Software Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• On-premise
• Cloud

Enterprise Software Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Enterprise
• Small & Medium Enterprise

Enterprise Software End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI
• Retail
• Healthcare
• IT & Telecom
• Government & Education
• Manufacturing
• Others (Transportation, Hospitality, Automotive)

Enterprise Software Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• MEA

List of Key Players of Enterprise Software Market

• Broadcom Inc. (CA Technologies, Inc.)
• Epicor Software Corporation
• Hewlett Packard Enterprise
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• com, Inc.
• SAP SE
• SYSPRO
• Zoho Corporation Pvt. Ltd.

About Grand View Research

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

Payday Loans Market Poised to Expand at a Robust Pace Over 2030: Grand View Research Inc.

 Payday Loans Market Growth & Trends

The global payday loans market size is anticipated to reach USD 6.8 billion by 2030, registering a CAGR of 3.8% during the forecast period, according to a new report by Grand View Research, Inc. Demand for payday loans is likely to grow owing to advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and analytics being adopted by payday lenders.

COVID-19 had a negative impact on the payday loans market. According to The Washington State Department of Financial Institution’s, 2020 payday lending report, the total number of payday lending locations in Washington, U.S. reduced by 20.5% from 2019 to 2020. Moreover, the volume of payday loans also saw a reduction. People became cautious spenders owing to the economic slowdown caused by COVID-19. Moreover, some governments, such as the U.S. government, provided relief packages to help people during financially stressful condition, reducing demand for payday loans.

Many payday loan market players offer payday loans online with a simple online application process. It helps them improve the overall customer experience. Moreover, these players use advanced technologies such as AI/ML and analytics to improve the overall process. Some market players, such as the U.S.-based Speedy Cash and Title Max, have mobile applications through which their customers can manage their loans. U.S.-based Enova.com’s Colossus platform is driven by AI/ML-enabled analytics.

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Payday Loans Market Report Highlights

• In terms of type, the storefront payday loans segment accounted for the maximum revenue share of 53.7% in 2021. This can be attributed to the presence of numerous payday lending stores. The online payday loans segment is likely to expand at the highest CAGR of 4.2% during the forecast period. This is due to the digitalization across the Banking, Financial Services, and Insurance (BFSI) sector
• Based on marital status, the single segment dominated the market with a share of 63.7% in 2021 and is also expected to expand at the highest CAGR of 4.0% during the forecast period. This can be attributed to the generally single source of income for the singles, divorced, and widowed parents which are more likely to use a payday loan as compared to married parents. The married segment accounted for a revenue share of 36.3% in 2021 and is expected to develop by a significant CAGR during the forecast period
• Based on customer age, the 31- 40 segments dominated the market with a share of 28.1% in 2021 and are expected to develop by a CAGR of 3.9% during the forecast period. This can be attributed to generally more financial responsibilities for the customers in this age group. The 21-30 segments are expected to develop the highest CAGR of 4.8% during the forecast period
• North America held the largest share of 31.0% in 2021 and is expected to retain its position throughout the forecast period. This can be attributed to the presence of numerous direct payday lenders in the region. Moreover, developed technology infrastructure is aiding the growth of the market in the region. The Asia Pacific region is anticipated to expand at the highest CAGR of more than 5.0% during the forecast period owing to the developing technology infrastructure
• In August 2021, Credit star Group’s subsidiary, Credit star Czech s.r.o, launched Monefit in the Czech Republic. Customers can finance their everyday expenses and purchases with Monefit Credit Line and Monefit Split products. Customers can pay in three installments instead of paying large amounts at once without hidden fees or any interest. This would help Credit star to increase its market share in the region

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Payday Loans Market Segmentation

Grand View Research has segmented the payday loans market based on type, marital status, customer age, and region:

Payday Loans Type Outlook (Revenue, USD Million, 2017 - 2030)

• Storefront Payday Loans
• Online Payday Loans

Payday Loans Marital Status Outlook (Revenue, USD Million, 2017 - 2030)

• Married
• Single

Payday Loans Customer Age Outlook (Revenue, USD Million, 2017 - 2030)

• Less than 21
• 21-30
• 31-40
• 41-50
• More than 50

Payday Loans Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in Payday Loans Market

• Title Max
• Cash Money
• Check City Online
• Lender
• Fast Loan UK
• Speedy Cash
• GAIN Credit
• Cash float
• Credit star Group
• Payday

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.

Emission Monitoring Systems Market Predicted to Cross USD 4.43 Billion by 2025: Grand View Research Inc.

 The global emission monitoring systems market size is expected to reach USD 4.43 billion by 2025, expanding at a CAGR of 8.6% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Increased deployment and usage in oil and gas, power generation, and metals and mining industries in emerging economies such as China and India are expected to drive the growth.

Emission Monitoring Systems (EMS) have enabled companies to accurately detect, report, and reduce the concentration of harmful gases and improve air quality. The deployment of EMS has also helped regulatory agencies and departments to efficiently monitor emissions from various industries such as oil and gas, metals and mining, and chemical and fertilizer. Technological advancements such as predictive analytics and the development of sensitive and advanced sensors have significantly contributed to the growth of the emission monitoring systems market.

Recognizing the negative consequences of harmful gases into the atmosphere, governments across the globe have taken major steps to monitor and reduce emission levels. Changing regulatory framework, stringent emission standards, and improvement in the data reporting process are also some of the significant factors driving the market growth. Apart from these, growing investment in environmental management, along with personnel health protection are promoting the adoption of EMS.

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Further key findings from the study suggest:

• CEMS segment is expected to expand at the highest CAGR of 8.7% over the forecast period owing to increased adoption of these systems in oil and gas upstream and downstream
• Development of PEMS capable of higher accuracy in emission detection is further expected to drive the demand and adoption of the systems by major companies in oil and gas, power generation, and chemical and fertilizer industries
• Hardware segment presently leads the emission monitoring systems market and is also anticipated to be the fastest growing segment over the forecast period. Stringent government regulations and air quality standards by the Environmental Protection Agency (EPA) and European Committee for Standardization of emission monitoring are expected to have a positive influence on growth in U.S. and Europe, respectively
• Asia Pacific is expected to register the highest CAGR from 2019 to 2025 due to the establishment of new refineries and capacity enhancement of existing refineries to meet the rapidly growing crude oil consumption
• The key industry players include Ametek, Inc.; ABB Ltd.; Emerson Electric Company; General Electric Company; Horiba Ltd.; Enviro Technology Services Plc.; Fuji Electric Co., Ltd.; Siemens AG; Thermo Fisher Scientific Inc.; and Rockwell Automation, Inc.; among others.

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Grand View Research has segmented the global emission monitoring systems market based on type, component, end-use, and region.

Emission Monitoring System Type Outlook (Revenue, USD Million, 2014 - 2025)

• Continuous Emission Monitoring System (CEMS)
• Predictive Emission Monitoring System (PEMS)

Emission Monitoring System Component Outlook (Revenue, USD Million, 2014 - 2025)

• Hardware
• Software
• Service
  • Installation & Deployment
  • Training
  • Support & Maintenance

Emission Monitoring System End-use Outlook (Revenue, USD Million, 2014 - 2025)

• Chemical & Fertilizer
• Metals & Mining
• Oil & Gas
• Pharmaceutical
• Power Generation
• Pulp & Paper
• Others

Emission Monitoring System Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• MEA

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.

Road Marking Machine Market is Expected to Amplify USD 11.32 Billion Value by 2025: Grand View Research Inc.

 The global road marking machine market size is anticipated to reach USD 11.32 billion by 2025 expanding at a CAGR of 9.3%, according to a new report by Grand View Research, Inc. Rapid globalization, industrialization, and urbanization along with technological developments are triggering the demand for high-quality infrastructure. With a view to achieve balanced regional economic growth governments across the world have increased their spending on infrastructure development.

Thus, rising investment in road infrastructure by key governments, specifically in emerging economies of APAC and CSA, are expected to propel the market over the forecast period. On the basis of product type, the market is segmented into manual, semi-automatic, and fully automatic machines. Manual machines are projected to account for the largest market share over the forecast period as they are used across various industries owing to ease of operation, compatibility with a variety of paint materials, and low operational cost.

On the basis of application, the market is segmented into road, car park markings, anti-skid, and other markings. Road markings was the largest application segment in 2018 and held 28.25% of the global market share. These markings includes line striping on highways, city roads, and sideways, among others. Car park markings is likely to be the fastest-growing segment with a CAGR of 10.5% over the forecast period owing to rising need for these markings at hotels, buildings, sideway car parking, and public car parking places.

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Further key findings from the study suggest:

• Asia Pacific accounts for the largest share of the global road marking machine market and is expected to retain its dominance over the forecast period
• China is the major revenue-generator in the APAC region and is anticipated to reach USD 1.17 billion by 2025
• North America market is anticipated to witness a steady growth owing to increased investments for road safety and maintenance
• S. is one of the prominent markets in North America and is projected to expand at the fastest CAGR of 3.9% over the forecast period
• Manual type is expected to be the largest as well as fastest-growing machine type segment over the estimated period
• Car parking markings application segment is anticipated to register the highest CAGR of 10.5% during the forecast years
• Key companies in this market are Hofmann GmbH; Borum A/S; Graco Inc.; RME Road Marking Equipment; STiM Group; Dayu Road Marking; Automark Industries; Titan Tool Inc.; TATU Traffic Group; and Zhenjiang Winfar Transport Facilities Co., Ltd.

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

Road Marking Machine Type Outlook (Revenue, USD Million, 2015 - 2025)

• Manual
• Semi-Automatic
• Fully Automatic

Road Marking Machine Application Outlook (Revenue, USD Million, 2015 - 2025)

• Road
• Car Park
• Anti-Skid
• Others

Road Marking Machine Regional Outlook (Revenue, USD Million, 2015 - 2025)

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

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.

Zero Trust Security Market Poised to Expand at a Robust Pace of USD 59.43 Billion Over 2028: Grand View Research Inc.

 Zero Trust Security Market Growth & Trends

The global zero trust security market size is expected to reach USD 59.43 billion by 2028, registering a CAGR of 15.2% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. The market is driven by the need to protect enterprise digital environments by averting lateral movement, leveraging network segmentation, simplifying granular user-access control, and implementing layer 7 threat prevention. The robust solutions for implementing a zero-trust security environment ensure the protection of computers, programs, and networks from unauthorized access. Moreover, preventing unwarranted access to critical data, as the adoption of technologies, such as cloud computing, Wi-Fi, and Internet of Things (IoT), coupled with outsourcing service, is increasing, is driving the growth of the market. The COVID-19 pandemic has further acted as a catalyst for market growth with enterprises investing in securing their networks, endpoints, and IT infrastructure with a zero-trust security framework.

The threat to digitally stored information from unauthorized access is also driven by changing technological landscape. While technology revolutionizes a business process, it also creates vulnerabilities in online protected data. In addition, while internet connectivity improves the operational task of the business by speeding up the process and improving accessibility, the risk of cyber attacks also increases rapidly. Moreover, the rapid expansion of operational data exposed to cyber adversaries through mobile, other edge devices, and IOT and the dependence of companies on third-party vendors and service providers are some of the prevailing supply chain trends increasing the risk of cyberattacks to access information. Therefore, the implementation of a security solution ensures a zero-trust security environment in the organization to mitigate the risks arising from various business activities and internet connectivity.

The application of the zero trust model is parallel to the concept of cybersecurity as it focuses on preventing intrusion by securing the digital network. Several countries across the world introduced laws to prevent cybercrime and data theft, which is vital for safeguarding the BFSI, IT, telecom, defense, and healthcare, other major sectors. The increasing internal and external threat of unauthorized data accessibility and cybercrime due to the political and personal interest of hackers or intruders for earning easy money further pressurizes governments to update their policies regularly. For instance, China updated its cyber policy on December 1, 2019, which instructs both Chinese and foreign public as well as private companies and organizations to secure their networks. The cyber law in the U.S. varies based on the business sector and includes Health Insurance Portability and Accountability Act, 2002 (HIPAA); Homeland Security Act that also includes Federal Information Security Management Act (FISMA), and 1996 Gramm-Leach-Billey Act. Such cyber laws further necessitate the need to secure networking structure and boost the demand for authentication and cyber-solution that ensures a zero-trust security environment.

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Zero Trust Security Market Report Highlights

• The Small and Medium Enterprises (SMEs) segment is anticipated to witness the fastest CAGR over the forecast period owing to increasing awareness and threat of unauthorized access during cyber attacks
• The multi-factor authentication segment led the global market in 2020 and will expand further at the fastest CAGR from 2021 to 2028
• The growth can be attributed to the need to overcome the challenges of revenue loss and data loss risks in the era of confidential and vulnerable data, as multi-factor authentication presents multiple layers of identity verification to grant access to an authorized individual
• North America led the global market in 2020 and will remain dominant even during the forecast years
• The growth is credited to the high-security investment from the large enterprises across the regional industries, such as BFSI, that are at constant risk of cyber attacks as well as internal fraudsters

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Zero Trust Security Market Segmentation

Grand View Research has segmented the global zero trust security market on the basis of security type, deployment, organization size, authentication, application area, and region:

Zero Trust Security Type Outlook (Revenue, USD Million, 2017 - 2028)

• Network
• Data
• Endpoint
• Cloud
• Others

Zero Trust Security Deployment Outlook (Revenue, USD Million, 2017 - 2028)

• On-premises
• Cloud

Zero Trust Security Organization Size Outlook (Revenue, USD Million, 2017 - 2028)

• SMEs
• Large Enterprise

Zero Trust Security Authentication Outlook (Revenue, USD Million, 2017 – 2028)

• Single-factor Authentication
• Multi-factor Authentication

Zero Trust Security Application Area Outlook (Revenue, USD Million, 2017 - 2028)

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

Zero Trust Security Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• MEA

List of Key Players of Zero Trust Security Market

• Cisco Systems, Inc.
• Akamai Technologies
• Palo Alto Networks
• Check Point Software Technologies
• Trend Micro, Inc.
• IBM Corp.
• Symantec Corp.
• FireEye, Inc.
• McAfee Corp.
• Forcepoint
• Microsoft Corp.
• VMWare, Inc.
• Fortinet
• Cloudflare, Inc.
• SonicWall

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.

Hair Dryer Market 2023-2030 Analysis By Leading Players, Types, Growth Factors, Demand, Opportunities, Current Trends & Predictions

 Hair Dryer Market Growth & Trends

The global hair dryer market size was valued at USD 13.64 billion in 2030, expanding at a CAGR of 6.0% from 2023 to 2030, according to a report by Grand View Research, Inc. The key dynamics driving the demand for hair dryers are growing standards of living and greater emphasis on personal appearance. Evolving fashion trends in hair care and styling and the rising hair styling trends featured in movies and on fashion runways are considerably impacting the sales of hair dryers globally, across all age groups. Hairdryers help style, curl, straighten, volumize, or flatten the hair using heat.

An increase in consumer spending on professional salons and hair styling tools is expected to open new avenues for market growth. Consumer expenditure on professional salons and hairstyling tools is driving the global hair dryer industry. With the growing popularity of social media, beauty trends have changed a lot, which has led to a surge in demand for hair dryers. According to the Philips Global Beauty Index 2019, nearly 76% of women used a hair dryer regularly. Such trends will lead to the high adoption of hair dryers by consumers.

The global economy deteriorated rapidly in the first quarter due to the impact of lockdowns and other restrictions in various countries to counter the COVID-19 pandemic. However, economic activities around the world began to pick up in the second quarter of 2020. By the end of the third quarter and later, new waves of COVID-19 infections led to another round of restrictions and extensions of existing restrictions in various countries. Bottlenecks for semiconductors and other economic issues occurred toward the end of the fiscal year.

The corded product segment held the largest market share more than 83.0% in 2022 and is expected to witness progressive growth in demand during the forecasted period. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required. They are also more powerful than cordless hair dryers and can dry the hair quicker. They have better airflow and heat settings, hence they are preferred by consumers.

The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall. This has fueled the demand for professional hair dryers.

The offline segment dominated and held the largest revenue share of over 72.05% in 2022. Offline is the most widely used channel for purchasing hair dryers. Offline stores provide consumers with the option of testing the operations of the product before making a purchase decision.

North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care. Furthermore, as consumers in North America have a higher disposable income compared to the rest of the world, especially those in the U.S. and Canada, the tendency of purchasing high-end hair dryers is greater in the region.

The major players account for a considerable market share and have a strong presence across the globe. The hair dryer industry also comprises small and medium sized local players who offer a selected range of products at much cheaper rates and mainly serve regional customers. Global brands face tough competition from these players since smaller players have a better grasp and reach in regional or country markets.

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Hair Dryer Market Report Highlights

• The corded product segment accounted for the leading market share of more than 83.0% in 2022 and is expected to witness significant growth in the near future. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required
• The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall
• The offline segment dominated the market and held a revenue share of over 72.05% in 2022. The offline channel is the most widely used channel for purchasing a hair dryer. Offline stores provide consumers with the option of testing the operations of a product before making a purchase decision
• North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care

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

Hair Dryer Market Segmentation

Grand View Research has segmented the global hair dryer market based on product, application, distribution channel, and region:

Hair Dryer Product Outlook (Revenue, USD Billion, 2017 - 2030)

• Cord
• Cordless

Hair Dryer Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Professional
• Individual

Hair Dryer Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

• Online
• Offline

Hair Dryer Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players in the Hair Dryer Market

• Conair LLC
• Panasonic Holdings Corporation
• Koninklijke Philips N.V.
• Dyson Limited
• Tescom Co., Ltd. (Tescom Denki Co., Ltd)
• Spectrum Brands, Inc.
• Revlon Inc.
• Ghd Hair (Jemella Ltd)
• Harry Josh Pro Tools
• Braun GmbH (A brand of Procter & Gamble)

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.