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

 Cyclopentane Market Growth & Trends

The global cyclopentane market size is anticipated to reach USD 675.7 million by 2030, expanding at a robust CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc. An increase in demand for refrigerators across various sectors is expected to propel the market growth.

The COVID-19 pandemic negatively impacted the market as production activities were halted worldwide. The outbreak of the pandemic caused widespread disruption in supply chains leading to a shortage of raw materials and inflated costs across the board. But since the hydrochlorofluorocarbons (HCFCs) phasing out regulation by Montreal Protocol, it has propelled the demand for cyclopentane in applications such as refrigerators and insulating products. It also eliminated substances producing carbon emissions providing a more green alternative for the future. These factors led to a strong recovery in the cyclopentane industry.

The recent Russia-Ukraine war also led to inflated crude oil prices which affected the growth of the cyclopentane industry. However, owing to the rising demand for insulated products, the market is set to witness growth over the forecast period.

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Cyclopentane Market Report Highlights

• Based on function, the blowing agent & refrigerant segment accounted for the largest revenue share of 62.6% in 2021 and is expected to retain its dominance over the forecast period owing to its increased use in the automotive, construction, electrical, and appliance industries. The solvent & reagent segment is expected to grow at a CAGR of 7.1% over the forecast period
• Based on application, the refrigerators segment is expected to dominate the market over the forecast period owing to the rise in per capita income and demand for packaged & frozen food and medicines. The containers & sippers segment is likely to grow at a CAGR of 8.3% over the forecast period
• Asia Pacific held a market share of 37.2% in 2021 and is expected to dominate the segment over the forecast period. Europe is anticipated to expand at a CAGR of 7.0% over the forecast period. The growth is primarily attributed to the rising demand for insulating materials in the construction industry, refrigerators, and other insulation applications
• In September 2022, Haltermann Carless, HCS Group’s brand, inaugurated its new hydrogenation unit in Germany to solidify its position as a leading manufacturer of cyclopentane, as well as to expand its business areas through the Speyer site. It plans to increase production by 70% by the first quarter of 2023
• Mergers & acquisitions, agreements, R&D activities, and expansions are the key strategies adopted by the companies over the past years. For instance, in June 2022, Chevron Phillips LLC expanded its operations in Europe by setting up a polyalphaolefins (PAOs) production unit in Belgium to cater to the growing demand. The investment at the Beringen plant will help the company double its PAO production by 2024. Sustainability and environment-friendly material usage being the key moving ahead, it is also a crucial factor that will drive the market growth over the forecast period

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Cyclopentane Market Segmentation

Grand View Research has segmented the global cyclopentane market based on function, application, and region:

Cyclopentane Function Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

• Blowing Agent & Refrigerant
• Solvent & Reagent
• Others

Cyclopentane Application Outlook (Volume, Tons; Revenue, USD Million, 2017– 2030)

• Refrigerators
• Containers & Sippers
• Personal Care Products
• Electrical & Electronics
• Insulating Construction Material
• Fuel & Fuel Additives
• Others

Cyclopentane Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Cyclopentane Market

• HCS Group GmbH
• Dymatic Chemicals, Inc
• Chevron Phillips Chemical Company
• SK geo centric Co. Ltd
• LG Chem
• Maruzen Petrochemical
• Liaoning Yufeng Chemical Co, Ltd
• Haldia Petrochemicals Limited
• YEOCHUN NCC CO. LTD
• SOUTH HAMPTON RESOURCES
• ZEON CORPORATION
• Puyang Zhongwei Fine Chemical Co. 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.

Sunglasses Market Get Facts About Business Strategies 2022 to 2030: Grand View Research Inc.

 Sunglasses Market Growth & Trends

The global sunglasses market size is expected to reach USD 48.19 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% from 2022 to 2030. The key drivers of the market include advanced and improved products and services that meet specific client needs. Additionally, increasing consumer inclination toward well-designed and quality products to increase their outfit and style has increased the demand for sunglasses. Customers are more expected to buy new products than old ones. Manufacturers' advanced breakthroughs have allowed them to present sunglasses with extra utility. Counterfeit products negatively impact the sales and pricing strategies of major players' offerings, thus hampering the growth of the market.

The COVID-19 pandemic had a negative impact on the market. The COVID-19 pandemic affected manufacturing activities and disrupted the distribution network of the market internationally. The government’s strict limitations and guidelines regarding social distancing and complete lockdowns had led to huge losses for the companies operating in the market. All the major brand outlets and other sales channels were closed for the lockdown period. The future of the market depends on the digitization of the supply chains in the sunglasses industry all over the world.

Non-polarized sunglasses accounted for the largest share of over 70.0% in 2021. This is due to their effectiveness in different environmental conditions. Consumers buy sunglasses owing to their fashion proportion, and polarization is only a relevant criterion for individuals that need targeted usage, such as for cycling. It is a popular choice for customers globally owing to its easy accessibility in both offline and online channels.

Europe dominated the global market and held a share of over 35.0% in 2021. This is attributed to the presence of leading industry players and the high disposable income of buyers in the region. An increase in awareness regarding unsafe UV beams among buyers is a key factor that is credited to the popularity in the region. The large percentage of spectacle wearers, along with booming retail prices of frames, will drive the market in this region.

Key players operating in the market are focused on offering high-quality sunglasses in new frame styles as well as lens colors to attract customers. For instance, MaumiJi, Inc. offers polarized reading sunglasses that are manufactured using bifocal lenses and are specially designed to read in intense sunlight.

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Sunglasses Market Report Highlights

• Asia Pacific is expected to witness the fastest growth from 2022 to 2030. This is attributed to the growing standard of living and changes in lifestyle in countries such as India, Japan, and South Korea
• The polarized segment is likely to witness the fastest growth from 2022 to 2030. This is attributed to the high participation in outdoor sports and activities such as skiing and hiking all over the world
• The online distribution channel segment is expected to expand at the fastest CAGR from 2022 to 2030. This is attributed to the reasonable prices and plenty of choices that it gives to the customers. Additionally, the choice of trial before buying that is offered by online retailers is another important factor expected to drive the segment over the forecast period

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Sunglasses Market Segmentation

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

Sunglasses Product Outlook (Revenue, USD Million, 2017 - 2030)

• Polarized
• Non-polarized

Sunglasses Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Offline
• Online

Sunglasses Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in Sunglasses Market

• Luxottica Group
• Safilo Group
• Maui Jim
• De Rigo
• Charmant
• Specsavers Optical
• Revo
• Fielmann AG
• Pivothead
• LVMH Group
• MarcolinSpA

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.

Sneakers Market Outlook Growth Emerging Factors On Geography, Technological Advancements And Mounting Demand Forecast To 2022-2030

 Sneakers Market Growth & Trends

The global sneakers market size is expected to reach USD 128.34 billion by 2030, registering a CAGR of 5.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The advent of 3D printing on sneakers and the growing penetration of the internet & smartphones are leading to an increase in the inclination toward online medium as it offers the flexibility to choose, which, in turn, is further increasing the growth of the global market. In addition, the increased population, changing fashion trends, and penetration of the internet & smartphones drive the market. However, the availability of counterfeit products may hamper the growth.

The COVID-19 pandemic has had a negative impact on the industry. The short-term shutdown of factories and interruption in the new collection release were the key factors that affected the growth. Manufacturing plants were shut and production in China disturbed the supply chain of raw materials, thereby impacting the global industry in 2020. The impact of the pandemic has also pushed back certain release dates as a handful of coveted Jordans that were set to drop in March marked their way to Nike.com, SNKRS, and other places at a later date. Moreover, Adidas AG and Puma Inc. reported drastic losses in their revenues in 2020.

The online segment is likely to register the fastest CAGR during the forecast period. Online buying permits customers to find a variety of sneakers that are not available in a physical store. There are so many more options to choose from at online shops. The users can simply browse through numerous brands. The development of this industry will have to keep up with customer preferences as they demand more comfort as well as convince in online shopping. Asia Pacific accounted for the largest revenue share in 2021. China was the major country in the region in terms of share.

Rapid urbanization and the rise in middle-class consumers in emerging as well as developed nations have encouraged the adoption of convenience-oriented lifestyles, making sneakers more desirable for consumers of almost all age groups. Major players face solid competition from each other, as some of them work at several locations and have a loyal customer base. In addition, companies are concentrating on building customer relationships through a customer service network and are expanding internationally. They are also launching new designs through constant innovation, which will further intensify market competition.

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Sneakers Market Report Highlights

• North America is expected to register the fastest CAGR over the forecast period due to increasing product demand among the young generation
• The mid-top sneakers segment is likely to register the fastest growth rate during the forecast period
• This is owing to the high demand for mid-top products due to the benefits, such as low weight and better cut
• The department store distribution channel segment generated the maximum sales in 2021 as these stores have advantages, such as festive and seasonal offers, lower prices, discounted rates, and big displays with freedom of selection
• The women segment is likely to record the highest CAGR from 2022 to 2030 due to the easy availability of a vast range of sneakers that are designed specifically for women

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Sneakers Market Segmentation

Grand View Research has segmented the global sneakers market based on product type, end-user, distribution channel, and region:

Sneakers Product Type Outlook (Revenue, USD Million, 2017 - 2030)

• Low-Top Sneakers
• Mid-Top Sneakers
• High-Top Sneakers

Sneakers End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Men
• Women
• Kids

Sneakers Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Department Store
• Specialty Stores
• Online
• Others

Sneakers Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in Sneakers Market

• Nike Inc.
• Adidas AG
• New Balance Athletics, Inc.
• ASICS Corp.
• Kering SA
• Skechers USA, Inc.
• Under Armour Inc.
• VF Corp.
• Puma SE
• Relaxo Footwears 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.

Medical Biomimetics Market to Expand with Significant CAGR During 2022 – 2030: Grand View Research Inc.

 Medical Biomimetics Market Growth & Trends

The global medical biomimetics market size is expected to reach USD 52.2 billion by 2030, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. Growing advancement in nanotechnology, increasing demand for prostheses and implant, rise in R&D activities associated with medical biomimetics and strategic activities by key market players are the major factors which are likely to drive the market growth. For instance, in April 2021, curasan AG expanded its distribution network in Europe, the company has added Silesia Dental and Implants Diffusion International SARL to its European distribution network.

Diseases affecting the cornea are most important cause of blindness across the globe. According to the WHO, around 2 million new cases of corneal blindness are reported every year. More than 30 million people across the globe are blind in one or both eyes from corneal disease and injury, while several suffer from degraded visual acuity. Numerous attempts to create reliable, robust, and scalable solutions for artificial cornea have been unsuccessful. As such, there exists an unmet need, the research and development activities are being carried out for affordable and long-lasting solutions for pathology, injury, and corneal blindness. For instance, in March 2022, researchers from the Centre for LV Prasad Eye Institute, IIT-Hyderabad and Cellular, and Molecular Biology developed an exclusive biomimetic corneal hydrogel, manufactured from discarded human corneas, which can be used for the treatment of corneal scarring, the main cause of corneal blindness.

Numerous companies in the medical biomimetics market are expanding their products in emerging markets. For instance, a most important new development, in November 2021, Osteopore has been granted a patent in China for its smart 3D biometric scaffolds. The technology was developed with scientists from NTU Singapore and was previously granted a European patent in early 2021. This patent is anticipated to create numerous research and development opportunities in the Chinese market and allows the company to tap into local expertise as part of its product advancement process.

The COVID-19 pandemic is anticipated to negatively impact the medical biomimetics market growth. The COVID-19 pandemic had a considerable effect on the number of patients looking for dental treatments. The overall reduction in the number of patients treated in the Hospitals in Jordan was about 90.4% (17,591 to 1689). As a result, the usage of these technologies was less during the COVID-19 pandemic.

Furthermore, with the escalating number of accidents, the implementation of biomimetics for orthopedics is projected to boom. According to Association for Safe International Road Travel, every year about 20 to 50 million people worldwide suffer from injuries that leads to permanent disability. Hence, such factors are estimated to impact positively the growth of the medical biomimetics market.

On the other hand, a stringent regulatory framework hinders the medical biomimetics industry's growth. Regarding the ever-increasing and widespread applications of biomimetic biomaterials in numerous medical fields, their precise assessment is of great significance. Although each biomaterial undergoes thorough premarket evaluation, the regulatory organizations receive a significant number of adverse event and complications reports each year. Moreover, biomaterials are integrated into biological systems, hence, they must fulfill all scientific requirements such as high biocompatibility, sufficiently long shelf-life, and accommodating biological interactions.

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Medical Biomimetics Market Report Highlights

• By type, the cardiovascular segment held the largest share of the medical biomimetics market. This is attributed to the increasing research activities and rising cases of cardiovascular diseases which in turn is likely to increase the adoption of biomimetics and anticipate the medical biomimetics market growth
• The wound healing segment is expected to grow exponentially over the forecast period. The demand for wound healing and wound care products is growing owing to the escalating number of surgical cases and the increasing prevalence of chronic diseases globally
• The drug delivery segment of the medical biomimetics market is anticipated to grow at the fastest rate due to crucial developments in nanotechnology that have facilitated efficient and accurate non-carrier drug delivery using biomimetics based devices. Adequate funding and advancements in research and development will boost the medical biomimetics market growth
• North America dominated the global medical biomimetics market in 2021 due to the high R&D investment, development of novel products, and strong funding from the government in the region
• The Asia Pacific is expected to grow significantly in the future owing to the expansion of business by key market players along with the increasing prevalence of chronic disorders
• A few of the key medical biomimetics market players include Otsuka Medical Devices Group, Stryker, Abbott, AVINENT Science and Technology, SynTouch Inc, Osteopore International Pte Ltd, and others

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Medical Biomimetics Market Segmentation

Grand View Research has segmented the global medical biomimetics market based on, type, application, and region:

Medical Biomimetics Type Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular
• Orthopedic
• Ophthalmology
• Dental
• Others

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

• Wound Healing
• Tissue Engineering
• Drug Delivery
• Other Applications

Medical Biomimetics 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
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in Medical Biomimetics Market

• Otsuka Medical Devices Group
• Stryker
• Abbott
• AVINENT Science and Technology
• SynTouch Inc
• Osteopore International Pte Ltd
• Vandstrom, Inc.
• Biomimetics Technologies Inc
• Swedish Biomimetics 3000 ApS
• Keystone Dental Group
• LifeMatrix
• Curasan, Inc. 
• CorNeat Vision 
• NanoHive Medical LLC
• Zimmer Biomet

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.

Needle-free Injectors Market Growth in the Coming Years

 Needle-free Injectors Market Growth & Trends 

The global needle-free injectors market size is expected to reach USD 2.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2022 to 2030. Increasing prevalence of chronic diseases and rising patient volume are factors projected to enhance the demand for needle-free injectors. 

As a result of a sedentary lifestyle, the prevalence of lifestyle-associated diseases such as diabetes and hypertension is expected to increase during the forecast period. These diseases demand round-the-clock monitoring of various physiological parameters such as blood pressure and blood sugar levels. This allows integration of healthcare data with portable devices such as needle-free injectors and further this can be forwarded to physicians or doctors in order to have real-time access to data and reduce errors, thereby expected to propel the demand for needle-free injectors. 

The global needle-free injectors market is expected to witness lucrative growth owing to growing geriatric population coupled with rise in prevalence of chronic diseases such as cancer, diabetes, neurological disorders, hypertension, and age-related orthopedic disorders. In addition, increasing awareness, coupled with rise in adoption of needle-free injectors, is expected to promote market growth. 

Constant rise in geriatric population base is aggregating the financial demands on the health care system. According to the Population Reference Bureau, the number of Americans aged 65 and above is predicted to nearly double from 52 million in 2018 to 95 million by 2060. Such rise in elderly population base will subsequently result in greater demand for needle-free injectors, hence predicting to enhance the market progression. 

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Needle-free Injectors Market Report Highlights

• The powder-based needle-free injectors segment held the largest market share in 2022 owing to the rising demand for these injectors among individuals
• The disposable segment held significant market share in 2022 due to the ease of use and presence of a built-in glass syringe that minimizes the need to manually load the glass syringe, ultimately making it convenient for patients
• The pain management segment is anticipated to gain the highest market share during the forecast period due to the increasing number of pain-related cases all across the globe
• North America is the leading market in 2022 owing to favorable regulatory reimbursement and growing demand for needle-free injectors
• Asia Pacific is expected to witness the fastest growth rate during the forecast period due to the availability of low-cost labor for manufacturing across several countries of Asia 

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Needle-free Injectors Market Segmentation

Grand View Research has segmented the global needle-free injectors market on the basis of product, type, technology, delivery site, usability, application, end-use, and region: 

Needle-free Injectors Product Outlook (Revenue, USD Million, 2018 - 2030)

• Fillable
• Prefilled

Needle-free Injectors Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Spring-based Needle-free Injector
• Gas-powered Needle-free Injector
• Laser-powered Needle-free Injectors
• Vibration-based Needle-free Injectors

Needle-free Injectors Usability Outlook (Revenue, USD Million, 2018 - 2030)

• Disposable
• Reusable

Needle-free Injectors Type Outlook (Revenue, USD Million, 2018 - 2030)

• Powder-based Needle Free Injectors
• Liquid-based Needle Free Injectors
• Projectile/depot-based Needle Free Injectors

Needle-free Injectors Application Outlook (Revenue, USD Million, 2018 - 2030)

• Vaccine Delivery
• Insulin Delivery
• Pain Management
• Others

Needle-free Injectors Delivery Site Outlook (Revenue, USD Million, 2018 - 2030)

• Subcutaneous
• Intramuscular
• Intradermal

Needle-free Injectors End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Home Care Settings
• Research Laboratories

Needle-free Injectors Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Needle-free Injectors Market

• PharmaJet
• Crossject
• Portal Instruments
• NuGen Medical Devices
• Inovio Pharmaceuticals
• Antares Pharma, Inc
• Aijex Pharma International Inc.
• Ferring B.V.
• Penjet Corporation
• Medical International Technology 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.

Payment As A Service Market To Benefit from Increased Global Uptake of 2023 By 2030

 Payment As A Service Market Growth & Trends

The global payment as a service market size is expected to reach USD 45.84 billion by 2030, expanding at a CAGR of 15.2% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The proliferation of smartphones for online shopping, rising E-commerce sales, and increasing internet penetration rate are some of the major factors that are driving the industry’s growth. Initiatives being adopted by various governments worldwide to promote digital payment are also contributing to the growth. Moreover, payment service providers’ emphasis on providing upgraded payment solutions also bodes well for growth.

Novel technologies are creating the potential for new modes of payment to emerge. The growing preference for digital wallets while paying for E-commerce transactions and online purchases is expected to drive the growth of the payment as a service industry over the forecast period. Digital wallets allow users to store their bank details securely and eliminate the need to enter bank details while making transactions. Moreover, stablecoins, a new crypto asset payment method, is likely to increase over time, presenting new opportunities in the market landscape.

Market players are striking strategic partnerships and collaborations to develop efficient products, increase sales, and strengthen their presence in the market. For instance, in May 2022, Ingenico and Ant Group announced a partnership to enable payment service providers and acquirers to implement Alipay+ across merchant networks. The implementation of Alipay+ onto the cloud platform would lead to a faster rollout of Alipay+ services.

The outbreak of the COVID-19 pandemic played a vital role in driving the growth of the payment as a service(PaaS) market. The E-commerce sector is expected to witness an increase in the coming years. As the pandemic imposed restrictions on brick-and-mortar retail stores, a sharp increase has been observed in online shopping. According to the statistics provided by IBM in 2020, the COVID-19 pandemic has shifted consumer focus from physical stores to digital shopping, the impact of which should last for the next few years as well, thereby contributing to the growth of the market.

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Payment As A Service Market Report Highlights

• The platform segment dominated the market in 2022. The development of different payment modes for transactions along with credit facilities for vendors and consumers is expected to drive segment growth
• The managed services segment is expected to witness the fastest growth over the forecast period. Integration of core and non-core operation services under one umbrella by prominent market players is boosting segment growth
• The retail & e-commerce segment dominated the market in 2022. The growing use of digital mediums for shopping and retail transactions is anticipated to drive segment growth
• The Asia Pacific market is likely to witness rapid growth over the period. The increasing adoption of payment service technology in emerging economies like China, India, and Japan is driving the regional growth

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Payment As A Service Market Segmentation

Grand View Research has segmented the global payment as a service market based on component, services, industry, and region:

Payment As A Service Component Outlook (Revenue, USD Million, 2017 - 2030)

• Platform
• Services

Payment As A Services Outlook (Revenue, USD Million, 2017 - 2030)

• Managed Services
• Professional Services

Payment As A Service Industry Outlook (Revenue, USD Million, 2017 - 2030)

• Retail & E-commerce
• Healthcare
• Travel & Hospitality
• BFSI
• Others

Payment As A Service Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Payment As A Service Market:

• Agilysys NV LLC
• Alpha Fintech
• Aurus Inc.
• First American Payment Systems L.P.
• Fiserv Inc.
• Ingenico
• Paysafe Holdings UK Ltd.
• Pineapple Payments
• Total System Services LLC.
• VeriFone, 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.

Socks Market Top Players, Analysis And Forecast Till 2030: Grand View Research Inc.

 Socks Market Growth & Trends

The global socks market is expected to reach USD 73.6 billion by 2030, registering a CAGR of 6.4% over the forecast period, according to a new report by Grand View Research, Inc. The increasing trend of formal clothing among white-collar professionals is anticipated to play a vital role in boosting product demand. This, in turn, is estimated to increase market growth over the forecast period. Furthermore, growing spending on health, as well as fitness, is anticipated to fuel the demand for different footwear accessories that include sports socks and ankle socks. Over the last couple of years, different healthcare professionals have increased their spending on publishing several research papers on keeping the feet healthy on account of the growing occurrences of foot disorders related to diabetes.

As a result, some of the companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which function as a root cause of infections, or amputation. The presence of corporate offices in emerging economies including China, Bangladesh, India, and Mexico, due to supportive policies to promote investments at a domestic level, is expected to remain a favorable factor for industry growth. However, increasing demand for footwear, such as sandals and slippers, is hindering the growth of this market. Rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will create development opportunities for the industry over the forecast period.

Industry development is likely to be higher in emerging regions due to the increasing penetration of corporate offices, which creates ample growth opportunities for the market. The COVID-19 pandemic has impacted the industry, as the product demand was decreased globally. With the lockdown and movement restrictions, socks sales were drastically impacted. However, top players reinvented their product lines and most of them utilized the lockdown period to innovate their production and retail approach. The demand for socks is significantly influenced by changing fashion and style trends. As people seek to stay up-to-date with the latest trends and styles, they often purchase new socks that match their fashion preferences. Socks with colorful patterns or bold designs may be popular in one season, while plain and classic styles may be preferred in another.

This trend-driven demand creates opportunities for companies to introduce new sock designs and styles to capture consumer interest and generate sales. Socks designed for specific sports or fitness activities are gaining popularity among enthusiasts. These specialized socks offer benefits, such as improved performance, increased comfort, and reduced risk of injury. For instance, compression socks worn during exercise can improve blood circulation and help prevent swelling and soreness in the feet and legs. As more people engage in sports and fitness activities, the demand for specialized socks is expected to grow, providing opportunities for companies that cater to this niche market.

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Socks Market Report Highlights

• Casual socks are the leading product segment and held a share of almost 54% of the global revenue in 2022. Many brands are using sustainable and eco-friendly materials, while others are incorporating compression or moisture-wicking technologies into their socks
• The athletic socks segment is projected to accelerate at a CAGR of 6.9% during the forecast period. This growth can be attributed to several factors, such as the increasing popularity of athleisure wear, rising awareness about the importance of comfortable & supportive socks for athletic performance, and the growth of e-commerce platforms that make it easier for consumers to purchase athletic socks
• Men’s socks held a revenue share of 62.8% in 2022. The segment is likely to continue its growth in the coming years as consumers have become more aware of the importance of high-quality socks for both comfort and style. The women’s socks market is progressing rapidly and is expected to improve by 1.6x by 2030. One of the reasons for the growth in the women's socks market is the changing fashion trends. Socks are no longer seen as just a functional item but also as a fashion accessory. As a result, women are now looking for socks that not only provide comfort but also look stylish
• Hypermarkets and supermarkets are the leading distribution channel for socks and held a share of 56.7% of the global revenue in 2022. However, customers are levitating towards online retail channels and thus, the online segment is expected to register a CAGR of 7.1% during the forecast period

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Socks Market Segmentation

Grand View Research has segmented the global socks market on the basis of product, end-use, distribution channel, and region:

Socks Product Outlook (Revenue, USD Million, 2017 - 2030)

• Casual
• Formal
• Athletic

Socks End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Men
• Women
• Children

Socks Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Hypermarkets And Supermarkets
• Convenience Stores
• Online

Socks Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Socks Market

• Nike Inc.
• Puma S.E.
• Adidas A.G.
• Asics Corp.
• Skechers USA, Inc.
• Hanesbrands Inc.
• Under Armour, Inc.
• VF Corp.
• Jockey International Inc.
• Drymax Technologies 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 Artificial Intelligence Market Plying for Significant Growth During 2023-2030: Grand View Research Inc.

 Automotive Artificial Intelligence Market Growth & Trends

The global automotive artificial intelligence market size is expected to reach USD 14.92 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to expand at a lucrative CAGR of 22.7% from 2023 to 2030. The artificial intelligence (AI) in the automotive industry is driven by factors such as government initiatives to incorporate autonomously and the growing demand for autonomous vehicles. Furthermore, the automotive industry's expansion will likely drive the artificial intelligence market. The automotive sector has benefitted from artificial intelligence and is one of the primary industries that use AI to augment and replicate human action. For instance, in March 2023, RoboSense announced the launch of the RS-Fusion-P6 (P6) automotive-grade solid-state LiDAR perception solution. The P6 LiDAR system is designed explicitly for level 4 autonomous driving and integrates cutting-edge software and hardware support, ensuring efficient and reliable perception capabilities for autonomous vehicles.

The advent of standards such as Advanced Driver Assistance Systems (ADAS), blind-spot alert, Adaptive Cruise Control (ACC), and increased demand for convenience features are attracting automotive providers to AI. AI mission-critical occurrences necessitate analysis, warnings, and directives. Automotive ADAS comprises various advanced sensors, such as LiDAR, Inertial Measurement Units (IMUs), radar, and cameras, as well as data connectivity and pressure and temperature sensors for constant uploads and downloads of surrounding conditions. The signal chain necessitates proper conditioning of sensor outputs and detection and reliable low-latency communications within the vehicle and the surrounding infrastructure.

AI has enormous potential in the automobile industry when embedded within the industry's products, production and manufacturing processes, and value-added chains. AI deployment is expected to contribute significantly to a safer, cleaner, more efficient, and more reliable mobility ecosystem. For instance, AI applications in connected and automated vehicles improve driver safety, monitoring, situational awareness, comfort, and trajectory prediction. It can lead to significant gains in performance and efficiency, such as enhanced logistical flows, traffic fluidity, and reduced fuel or power consumption.

In recent years, businesses manufacturing Automated Driving Systems (ADS) technology have substantially invested in live testing autonomous vehicles operating in virtual environments to assure their dependability and safety. However, the Covid-19 pandemic, which began in March 2020, prevented, disrupted, and delayed the achievement of these new product development test objectives due to its sudden beginning and continued resurgent impacts. A study published by Adrian Chen Yang Tan on March 10, 2022, used data from the California Automated Vehicle Test Program to ascertain how the pandemic impacted testing trends, resumptions, and test conditions. The study emphasized how crucial it is for government measures to encourage and facilitate the development of autonomous vehicles in pandemic situations.

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Automotive Artificial Intelligence Market Report Highlights

• The software segment is anticipated to grow significantly in the coming years. ADAS or autonomous driving runtime software and the employment of specialized processing element types speed up specific algorithmic steps. The ongoing trend of AI adoption in the automotive industry will drive market growth in the coming years
• The level 2 segment led the market in 2022, accounting for over 67% share of the global revenue. Level-2 self-driving technology refers to a system that can handle certain driving tasks, such as acceleration, braking, and steering, but still requires the driver to be alert and ready to take control when needed
• The APAC region is anticipated to witness the highest CAGR during the forecast period. The region's increasing sales of premium passenger automobiles equipped with advanced AI features have attracted consumers seeking enhanced driving experiences. Consumers’ rise in disposable incomes to purchase technologically advanced vehicles is fueling the demand for AI-driven automotive solutions 
• Automotive manufacturers investments in AI and LiDAR have responded to the growing demand for intelligent vehicles, which has driven growth across the entire industry

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Automotive Artificial Intelligence Market Segmentation

Grand View Research has segmented the global automotive artificial intelligence market on the basis of component, level of autonomy, technology, vehicle type, and region:

Automotive AI Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
• Software

Automotive AI Level of Autonomy Outlook (Revenue, USD Million, 2017 - 2030)

• Level 1
• Level 2
• Level 3
• Level 4

Automotive AI Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Machine Learning
• Natural Language Processing
• Computer Vision
• Context-aware Computing
• Others

Automotive AI Vehicle Type Outlook (Revenue, USD Million, 2017 - 2030)

• Passenger Vehicles
• Commercial Vehicles

Automotive AI RegionalOutlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Automotive Artificial Intelligence Market

• Alphabet Inc.
• Intel Corporation
• Microsoft
• NVIDIA Corporation
• IBM Corporation
• Qualcomm Technologies, Inc.
• Tesla
• AB Volvo
• BMW AG
• AUDI AG.

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 Ocular Trauma Devices Market During 2022 – 2030 to Gain Robust Traction: Grand View Research Inc.

 Ocular Trauma Devices Market Growth & Trends

The global ocular trauma devices market size is expected to reach USD 6.56 billion by 2030, registering a CAGR of 7.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Ocular trauma is sometimes referred to as non-penetrating trauma or blunt force trauma to the eye area. Combinations of forces, including acceleration and deceleration, shearing, and crushing pressure can result in ocular trauma. Ocular trauma can cause damage to the eye, the eyelid, and the surrounding bones resulting in blunt eye injuries such as globe exploding, retinal separation, hyphemia, frontal eye hemorrhage, retrobulbar hemorrhage, fracture of the orbit, accidental glaucoma, vitreous bleeding, corneal injuries, and cataract. According to a report by the vision center, around 95% of ocular trauma occurs in men under the age of 30, often caused by interpersonal violence.

Healthcare delivery was severely damaged due to the COVID-19 pandemic. Despite an overwhelming number of COVID-19 cases, ophthalmic clinics witnessed a sharp reduction in outpatient visits and operations, and hospitals lost a large amount of revenue in the initial stage of the pandemic. The COVID-19 pandemic had a negative effect on the sales of ocular devices such as contact lenses, implants, and ocular instruments. Ophthalmic clinics stayed closed throughout the lockdown period since ophthalmologists and healthcare professionals faced the biggest risk of spreading the virus. As a result, there was a decrease in the demand for ocular care products. However, the market is expected to regain its pre-pandemic position in the coming years due to the relaxation of regulations at present and the considerable economic recovery.

Several organizations along with ophthalmologists have launched campaigns and initiatives to increase awareness about ocular care and eye health among the general public. These organizations provide seminars, tutorials, and workshops that teach technicians how to utilize different pieces of ophthalmic equipment. Such programs aid in raising awareness of eye conditions and the availability of diagnostic tools.

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Ocular Trauma Devices Market Report Highlights

• Based on device type, the implants segment accounted for the largest market share of 45.0% in 2021 and is expected to witness the fastest growth with a CAGR of 8.0% over the forecast period from 2022 to 2030 pertaining to the rising incidence of diabetic retinopathydue to growing prevalence of diabetes and adoption of a sedentary lifestyle
• Based on the indication, the blunt trauma segment dominated the market with a revenue share of 47.5% in 2021. The increase in the elderly population will fuel the expansion of the segment. Combinations of forces, including acceleration and deceleration, shearing, and crushing pressure can result in blunt trauma.
• On the other hand, the sharp trauma segment is expected to witness the fastest CAGR of 8.7% during the forecast period owing to the increasing number of cases of sharp object eye injuries in the workplace.
• Based on end-use, the hospital segment accounted for a market share of 50.2% in 2021, owing to the rising adoption of advanced ophthalmic technology in hospitals and the availability of affordable and efficient treatment options
• The ophthalmic clinics segment is expected to witness the fastest CAGR of 7.9% during the forecast period from 2022 to 2030 due to the increasing need for eye care services in outlying locations
• North America accounted for the largest revenue share of 43.8% in 2021 attributed to the rise in the elderly population, increased incidence of eye-related problems, and growing healthcare costs. Asia Pacific is anticipated to witness a rapid CAGR of 9.6% over the forecast period owing to a significant rise in the number of elderly people in the region. Developing nations such as China and India are predicted to have the highest development in this region.

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Ocular Trauma Devices Market Segmentation

Grand View Research has segmented the global ocular trauma devices market based on device type, indication, end-use, and region: 

Ocular Trauma Device Type Outlook (USD Billion, 2017 - 2030)

• Implants
• Instruments
• Disposables

Ocular Trauma Devices Indication Outlook (USD Billion, 2017 - 2030)

• Blunt Trauma
• Chemical Trauma
• Sharp Trauma

Ocular Trauma Devices End-Use Outlook (USD Billion, 2017 - 2030)

• Hospitals
• Ophthalmic Clinics
• Others

Ocular Trauma Devices Regional Outlook (USD Billion, 2017 - 2030)

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

List of Key players in the Ocular Trauma Devices Market

• Alcon
• Bausch & Lomb, Inc.
• Carl Zeiss AG
• Johnson & Johnson Vision
• CooperVision
• TopCon
• EssilorLuxottica
• Hoya Corporation
• Glaukos 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.