Thursday 19 September 2024

Automated Machine Learning Market Factors, Rising Demand, Driving Growth by 2030

 Automated Machine Learning Market Growth & Trends

The global automated machine learning market size is expected to reach USD 21,969.7 million by 2030, and growing at a CAGR of 42.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global market size expanding on the backdrop of the rising need for advanced fraud detection solutions. Data analysis techniques, including supervised neural networks, have become highly sought-after to detect fraud through forecasting, clustering, and classification.

Organizations are expected to invest in automated machine learning (AutoML) to boost customer trust and ensure compliance with laws. AutoML is an innate process of automating iterative and time-consuming tasks. It enables developers, analysts, and data scientists to build ML models with productivity, efficiency, and high scale. AutoML has gained traction to minimize the knowledge-based resources needed to implement and train machine learning models.

The cloud-based segment will exhibit notable growth due to the trend for custom ML models and the demand for scalability. Cloud-based AutoML has become trendier across businesses for image recognition, training, and managing models. Furthermore, some factors, such as faster turnaround time for the production-ready models, increased accuracy, and simple graphical user interface have encouraged organizations to invest in cloud automated machine learning.

Moreover, the fraud detection is significantly augmenting the market growth. The trend is mainly due to real-time monitoring of suspicious activity. A palpable rise to do away with the unauthorized use of financial services will further the need for AutoML solutions and services. An uptick in online credit card fraud and a soaring number of transactions through wallets and cell phones will further expedite the demand for AutoML tools for fraud detection.

Additionally, the healthcare sector will emphasize the expansion of AutoML solutions following the latter’s use in projecting disease progression, treatment planning, clinical information extraction, and patient care. Automated machine learning services could expand the application of ML algorithms in diabetes diagnosis and electronic health records (EHR), and Alzheimer’s diagnosis analysis. To illustrate, in December 2020, Google rolled out AutoML Entity Extraction for Healthcare and healthcare Natural Language API to help healthcare professionals assess and review medical documents in a scalable and repeatable way.

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Automated Machine Learning Market Report Highlights

  • Based on offering, the service segment led the market and accounted for 52.4% of the global revenue in 2023. Automated Machine Learning (AutoML) services aim to simplify and automate various stages of the machine learning workflow, making it more accessible to users without extensive expertise in data science and machine learning.
  • Automated machine learning solutions are designed to automate the tasks involved in developing and deploying machine learning models. This makes it easier for organizations to leverage the power of machine learning without requiring significant expertise in data science or machine learning.
  • Based on enterprise size, the automated machine learning market is categorized into Small and Medium Enterprises (SMEs) and large enterprises. Large businesses are increasingly adopting cloud-based AutoML platforms and services. The scalable and cost-effective infrastructure of cloud platforms facilitates the training and deployment of machine learning models.
  • The adoption of machine learning is rapidly growing among small and medium-sized enterprises (SMEs). With often limited resources, SMEs may need extra expertise to analyze large data sets. Machine learning platforms and technologies can automate data analysis processes, allowing SMEs to gain valuable insights from their data with minimal manual effort.
  • Based on deployment, cloud-based AutoML solutions have gained significant traction in recent years, offering businesses and organizations a convenient and scalable way to leverage automated machine learning capabilities.
  • The Automated Machine Learning (AutoML) market streamlines the process of identifying and correcting data errors, including detecting missing values, fixing data formatting issues, and removing outliers that could impact the accuracy of machine learning models.

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

Automated Machine Learning Market Segmentation

Grand View Research has segmented the global automated machine learning market based on offerings, enterprise size, deployment, application, vertical, and region:

AutoML Offering Outlook (Revenue, USD Million, 2017 - 2030)

  • Solution
  • Services

AutoML Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

  • SMEs
  • Large Enterprises

AutoML Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Cloud
  • On-premises

AutoML Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Data Processing
  • Feature Engineering
  • Model Selection
  • Hyperparameter Optimization Tuning
  • Model Ensembling
  • Others

AutoML Vertical Outlook (Revenue, USD Million, 2017 - 2030)

  • BFSI
  • Retail & E-commerce
  • Healthcare
  • Government & Defense
  • Manufacturing
  • Media & Entertainment
  • Automotive & transportation
  • IT & Telecommunications
  • Others

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

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • UK
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa (MEA)
    • Kingdom of Saudi Arabia
    • UAE
    • South Africa

List of Key Players in the Automated Machine Learning (AutoML) Market

  • IBM
  • Oracle
  • Microsoft
  • ServiceNow
  • Google LLC
  • Baidu Inc.
  • AWS
  • Alteryx
  • Salesforce
  • Altair
  • Teradata
  • ai
  • BigML
  • Databricks
  • Dataiku
  • Alibaba Cloud

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.

Security Automation Market Report | Business Growth 2030

 Security Automation Market Growth & Trends

The global security automation market size is expected to reach USD 22.92 billion by 2030, growing at a CAGR of 14.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is driven by increasing cybersecurity threats, technological advancements in AI, ML, and big data, and stringent regulatory compliance requirements. The rising adoption of cloud services necessitates robust security automation, while the proliferation of IoT devices and the demand for endpoint and network security further boost the market. Organizations are increasingly investing in automated security solutions for cost efficiency, operational benefits, and enhanced threat detection and mitigation capabilities.

The increasing integration of security automation with DevOps (DevSecOps) ensures consistent security throughout the software development lifecycle. Automated security solutions enhance incident response capabilities, providing faster detection and mitigation of security breaches. These solutions offer scalability and flexibility, accommodating the expanding needs of organizations and new technologies. Enhanced threat intelligence features provide real-time data on emerging threats, aiding in proactive risk management. Automation reduces human error in security operations, ensuring more accurate threat detection and response. As businesses are digitally transforming, incorporating AI, IoT, and blockchain, the need for automated security measures is becoming essential.

Security automation is bridging gaps by enabling faster threat investigations and responses, eliminating prolonged monitoring processes. It centralizes threat detection and response with precise data, supporting security leaders in maintaining watch. Automation fosters a mature security framework, aligning tools with required security levels and ensuring immediate threat response. Tools such as SOAR, SIEM, and XDR automate workflows and create low-code scripts for targeted threat responses. Integrating AI with security systems enhances automated security measures, enabling advanced face detection and smart malware detection. AI-driven systems predict and prevent new attacks, securing IoT networks and supporting business growth. Thus, applications and tools will become more interconnected, streamlining processes and workflows.

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Security Automation Market Report Highlights

  • Based on solutions, the SOAR segment led the market, and accounted for over  56% of global revenue in 2023. SOAR solutions improve threat detection, response, and remediation processes. By automating these functions, organizations can manage and mitigate threats more efficiently and effectively
  • Based on application, the endpoint security segment held the largest revenue share in the security automation market in 2023. The increasing number of connected devices, including smartphones, tablets, laptops, and IoT devices, expands the attack surface that organizations need to protect. Endpoint security solutions help safeguard these devices from various threats
  • Based on code type, the full code segment held the largest market revenue share in 2023. Full code solutions offer greater flexibility and customization, which are essential for addressing complex security challenges and integrating with existing IT infrastructure.  
  • Based on vertical, the BFSI segment dominated the market revenue in 2023. Security automation solutions help BFSI organizations enhance their cybersecurity posture, streamline compliance processes, and mitigate risks more effectively

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

Security Automation Market Segmentation

Grand View Research has segmented the global security automation market based on offering, deployment mode, application, code type, vertical, technology, and region:

Security Automation Offering Outlook (Revenue, USD Billion, 2017 - 2030)

  • Solutions
    • SOAR
    • SIEM
    • XDR
  • Services
    • Professional Services
    • Managed Services

Security Automation Deployment Mode Outlook (Revenue, USD Billion, 2017 - 2030)

  • Cloud
  • On-Premises

Security Automation Application Outlook (Revenue, USD Billion, 2017 - 2030)

  • Network Security
    • Intrusion Detection & Prevention System
    • Firewall Management
    • Network Access Control
    • Network Traffic Analysis
    • Others
  • Endpoint Security
    • Threat Detection and Prevention
    • Malware Detection and Protection
    • Configuration Management
    • Phishing and Email Protection
    • Others
  • Incident Response Management
    • Incident Triage and Escalation
    • Incident Categorization and Prioritization
    • Workflow Orchestration
    • Evidence Gathering
    • Others
  • Vulnerability Management
    • Vulnerability Scanning and Assessment
    • Prioritization
    • Vulnerability Remediation and Ticketing
    • Patch Management and Remediation
    • Others
  • Identity & Access Management
    • User Provisioning and Deprovisioning
    • Single Sign On (SSO)
    • Multi-Factor Authentication
    • Access Policy Enforcement
    • Others
  • Compliance & Policy Management
    • Automated Compliance Auditing
    • Policy Enforcement Automation
    • Regulatory Compliance Reporting
    • Audit Trail Generation
    • Others
  • Data Protection & Encryption
    • Encryption Key Management
    • File and Database Encryption
    • Data Loss Prevention
    • Others

Security Automation Code Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Low Code
  • No Code
  • Full Code

Security Automation Vertical Outlook (Revenue, USD Billion, 2017 - 2030)

  • BFSI
  • Manufacturing
  • Media & Entertainment
  • Healthcare & Life Sciences
  • Energy & Utilities
  • Government & Defense
  • Retail & E-commerce
  • IT & ITES
  • Others

Security Automation Technology Outlook (Revenue, USD Billion, 2017 - 2030)

  • AI & ML
  • Predictive Analytics
  • Robotic Process Automation (RPA)
  • User & Entity Behavior Analytics (UEBA)
  • Others

Security Automation Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

 List of Key Players in Security Automation Market

  • Cisco Systems, Inc.
  • CrowdStrike
  • CyberArk Software Ltd.
  • IBM Corporation
  • Palo Alto Networks
  • Red Hat, Inc.
  • Secureworks, Inc.
  • Splunk Inc.
  • Swimlane Inc.
  • Tufin

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.

Containerized Data Center Market Expected To Trigger A Revenue To $55.98 Billion By 2030: Grand View Research, Inc.

 Containerized Data Center Market Growth & Trends

The global containerized data center market size is anticipated to reach USD 55.98 billion by 2030, growing at a CAGR of 26.6% from 2024 to 2030, according to a new study conducted by Grand View Research, Inc. The exponential increase in data traffic is significantly driving the growth of the market. With the proliferation of digital devices, the growing popularity of social media and streaming services, and the continued rollout of Internet of Things (IoT) networks, the volume of data generated and transmitted across data networks shows no signs of abating. This surge in data traffic necessitates enhanced data processing and storage capabilities to handle the sheer volume and complexity of data. With their modular and scalable design, containerized data centers are ideal to meet these demands. They can be rapidly deployed and scaled to accommodate growing data requirements, providing businesses with the flexibility to manage the increased data traffic efficiently.

The adoption of edge computing in various end use industries, such as BFSI, IT & Telecom, healthcare, and others, is driving the growth of the market. Edge computing involves processing data close to the source of data generation, reducing latency and bandwidth usage. Containerized data centers are well-suited for edge deployments due to their modularity and rapid deployment capabilities. These modular data centers enhance hybrid cloud infrastructure by enabling seamless connectivity with public cloud services and extending on-premises capabilities. Organizations can enhance performance and responsiveness by deploying containerized data centers at the edge while maintaining a flexible and scalable infrastructure.

Energy efficiency is a major concern for both customers and suppliers, and they are responding by prioritizing energy-efficient designs and technologies in their containerized data center offerings. This includes various initiatives, including integrating advanced cooling systems, optimizing power distribution and management, utilizing energy-efficient components, and implementing renewable energy solutions. Suppliers can help customers reduce operational costs, minimize environmental impact, and comply with increasingly stringent energy regulations by focusing more on energy efficiency.

The IT infrastructure industry in Asia Pacific is experiencing a significant expansion. Numerous smart city initiatives are underway in the region, which is driving the adoption of containerized data centers. Governments are investing in smart infrastructure to enhance urban living, improve public services, and drive economic growth. These projects require robust and flexible IT infrastructure to handle vast amounts of data generated by IoT devices, sensors, and other smart technologies. With their modular design, containerized data centers are ideally suited for such applications. They can be deployed in urban environments close to data sources, ensuring low latency and high performance.

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Containerized Data Center Market Report Highlights

  • Based on type, the customized container segment is expected to register a CAGR of 31.6% from 2024 to 2030. Several factors drive the demand for customized containers; various industries and use cases (e.g., edge computing, telecommunications, military, remote operations) have varying and specific requirements that standard containers may not fulfill
  • Based on organization size, the small & medium-sized organizations segment is expected to register a CAGR of 27.4% from 2024 to 2030. The growing demand for containerized data centers among small and medium-sized organizations reflects a significant trend in the data center market
  • Based on end use, the healthcare segment is expected to register a CAGR of 28.8% from 2024 to 2030 driven by key trends such as rapid deployment and scalability, to manage the growing volume of medical data. These modular data centers offer enhanced data security and compliance with regulations such as Health Insurance Portability and Accountability Act (HIPAA), making them suitable for secure and isolated data environments
  • The Asia Pacific market is expected to witness high growth over the forecast period as governments are investing in smart infrastructure to enhance urban living, improve public services, and drive economic growth

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

Containerized Data Center Market Segmentation

Grand View Research has segmented the containerized data center market based on container type, organization size, end use industry, and region:

Containerized Data Center Container Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • 20 Feet Container
  • 40 Feet Container
  • Customized  Container

Containerized Data Center Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Small & Medium-Sized Organizations
  • Large Organizations

Containerized Data Center End Use Industry Outlook (Revenue, USD Billion, 2018 - 2030)

  • IT and Telecommunications
  • BFSI
  • Healthcare
  • Retail and E-commerce
  • Aerospace & Defense
  • Energy & Utilities
  • Others

Containerized Data Center Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in Containerized Data Center Market

  • Cisco Systems, Inc.
  • Dell Inc.
  • Delta Power Solutions
  • Fuji Electric Co., Ltd.
  • Hewlett Packard Enterprise Development LP
  • IBM Corporation
  • Rittal GmbH & Co. KG
  • Schneider Electric
  • Shenzhen Kstar Science & Technology Co., Ltd.
  • Vertiv Group Corp.
  • ZTE 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.

Wednesday 18 September 2024

Insulin Delivery Devices Market is Projected to Boost $28.06 Billion by 2030: Grand View Research Inc.

 Insulin Delivery Devices Market Growth & Trends

The global insulin delivery devices market size was estimated at USD 28.06 billion in 2030 and is expected to grow at a CAGR of 7.89% from 2024 to 2030. Obesity, sedentary lifestyles, and unhealthy food habits, primarily in the young population, lead to the occurrence of diabetes. In addition, the growing diabetic geriatric population is another factor supporting the growth of this vertical. According to the United Nations, Department of Economic and Social Affairs, around 901 million individuals were aged 60 or over in 2015 and this number is projected to increase to 1.4 billion by 2030. Thus, the enlarging elderly population is expected to boost the demand for insulin delivery devices.

Technological innovations and advancements are an ongoing trend in this vertical. The high demand for advanced insulin delivery devices is supporting the adoption of recently launched innovative pen devices and portable pumps, which is estimated to boost the market growth. Also, favorable reimbursement policies for these devices, mainly in developed countries like the U.S. and Germany, are anticipated to fuel the market growth during the study period. However, stringent regulatory requirements regulating the approval of insulin delivery devices and the high cost of insulin analogs in diabetes care management are major factors restraining the growth of this industry.

The market's prominent competitors are taking different initiatives such as acquisition, funding, and product development to expand their product portfolio and enhance their manufacturing capacity. For instance, in October 2021, Eli Lilly partnered with Cipla, to market its Insulin products (Humalog and Trulicity) in India. Additionally, In June 2021, the company acquired Protomer Technologies, to strengthen its market presence. Further, Novo Nordisk, joined hands with Biocorp to develop a Bluetooth-enabled smart add-on device for their pen insulin injector.

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Insulin Delivery Devices Market Report Highlights

  • The insulin pens segment was the largest revenue-generating category of this market in 2021. The pen is equipped with self-contained cartridges and offers ease in handling and less pain while injecting insulin. The advantages of these pen devices over other products are resulting in their growing popularity, thus serving as a vital factor in contributing to the sectorb s highest share in this market
  • The home care segment is estimated to be the fastest-growing segment due to increased adoption of self-care diabetes management devices and the availability of simplified and user-friendly product designs for patients
  • North America is the leading regional sector and accounted for the largest revenue share in 2021 primarily due to the favorable reimbursement scenario in this space. Also, the presence of major manufacturers in this region is supporting market growth
  • In Asia Pacific, the market is anticipated to grow fast during the forecast period. The high prevalence rate of diabetes in countries, such as China and India, is a major factor contributing to market expansion in this region

Access Press Release@ https://www.grandviewresearch.com/press-release/global-insulin-delivery-devices-market-analysis

Insulin Delivery Devices Market Segmentation

Grand View Research has segmented the global insulin delivery devices market report based on product, end use, and region.

Insulin Delivery Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Insulin Pens
    • Reusable Insulin Pens
    • Disposable Insulin Pens
  • Insulin Pumps
    • Patch Pumps
    • Tethered Pumps
  • Insulin Pen Needles
    • Standard Pen Needles
    • Safety Pen Needles
  • Insulin Syringes
  • Other Products

Insulin Delivery Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Clinics
  • Homecare
  • Other End Users

Insulin Delivery Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Insulin Delivery Devices Market

  • Novo Nordisk A/S
  • Sanofi
  • Eli Lilly and Company
  • Ypsomed AG
  • Medtronic
  • Insulet Corporation
  • Braun SE
  • Owen Mumford Ltd.
  • Tandem Diabetes Care, Inc.
  • BD (Becton, Dickinson, and Company)

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.

Single-use Bioprocessing Probes & Sensors Market Latest Innovations, Drivers and Industry Key Events 2024– 2030: Grand View Research Inc.

 Single-use Bioprocessing Probes & Sensors Market Growth & Trends

The global single-use bioprocessing probes and sensors market size is expected to reach USD 6.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 11.32% from 2024 to 2030. The key factors attributed to the growth of the market include production expansion by players and reduced environmental impact by using single-use bioprocessing probes and sensors. Moreover, the presence of several key companies supports market growth. The COVID-19 pandemic has further fueled the market growth. During the pandemic, the industry witnessed a supply shortage of several commodities. Suppliers increased the capacity of the single-use bioprocessing sector to cater to the increasing demand and balance the shortage of such commodities.

For instance, in September 2021, Thermo Fisher Scientific Inc., a major supplier in the industry, revealed a plan to set up a manufacturing facility in Nashville to produce products in single-use technologies (SUT). This facility is expected to be one of the world's largest single-use technology manufacturing facilities. Such an increase in production and development capabilities in the industry during the pandemic supports market growth. Moreover, single-use technology reduces water and energy consumption associated with cleaning and sterilization processes. They generate less waste than traditional reusable systems, aligning with the increasing focus on sustainability in the biopharmaceutical industry. In addition, single-use biotechnology systems, made up of plastics, are mostly recyclable and significantly decrease the environmental impact.

On the other hand, traditional biotechnology plants use large amounts of energy and water. Thus, the sustainability associated with single-use systems is expected to be preferred by biopharmaceutical manufacturers, which will boost market growth. Several players provide advanced and effective products. Thus, the wide adoption of advanced services and products is also expected to boost product demand. Many companies implement strategies, such as product launches, geographic expansions, strategic alliances, and M&As to enhance product portfolios and build positive customer positioning. For instance, in May 2022, Dover announced the acquisition of Malema Engineering Corp. This acquisition was aimed at expanding the single-use production offering of Dover. Such strategy implementation by players to gain a competitive edge is anticipated to support market growth over the forecast period.

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Single-use Bioprocessing Probes & Sensors Market Report Highlights

  • The pH sensors segment held the largest market share of 20.10% in 2023. This segment is also anticipated to observe growth at the fastest CAGR over the forecast period.
  • The upstream segment dominated the market in terms of revenue in 2023 with a market share of 73.46% and is expected to grow at the fastest CAGR from 2024 to 2030.
  • The biopharmaceutical & pharmaceutical companies segment held the largest market share of 41.66% in 2023. Pharmaceutical & biopharmaceutical companies are witnessing an increasing shift toward biologics and personalized medicine.
  • North America dominated the market and accounted for a 42.81% share in 2023. This can be attributed to the increasing adoption of new technologies, such as single-use technology, coupled with the presence of major biopharmaceutical and biotechnology companies.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-single-use-bioprocessing-probes-sensors-market

Single-use Bioprocessing Probes & Sensors Market Segmentation

Grand View Research has segmented the global single-use bioprocessing probes & sensors market on the basis of type, workflow, end use, and region

Single-use Bioprocessing Probes & Sensor Type Outlook (Revenue, USD Million, 2018 - 2030)

  • pH Sensor
  • Oxygen Sensors
  • Pressure Sensors
  • Temperature Sensors
  • Conductivity Sensors
  • Flow Meter & Sensors
  • Other Sensors

Single-use Bioprocessing Probes & Sensor Workflow Outlook (Revenue, USD Million, 2018 - 2030)

  • Upstream
    • pH Sensor
    • Oxygen Sensors
    • Pressure Sensors
    • Temperature Sensors
    • Conductivity Sensors
    • Flow Meter & Sensors
    • Other Sensors
  • Downstream
    • pH Sensor
    • Pressure Sensors
    • Temperature Sensors
    • Conductivity Sensors
    • Flow Meter & Sensors
    • Other Sensors

Single-use Bioprocessing Probes & Sensor End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Biopharmaceutical & Pharmaceutical Companies
  • CROs & CMOs
  • Academic & Research Institutes
  • Other End uses

Single-use Bioprocessing Probes & Sensor Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Single-use Bioprocessing Probes And Sensors Market

  • Hamilton Company
  • Thermo Fisher Scientific Inc.
  • Parker-Hannifin Corporation
  • Danaher Corporation
  • Mettler-Toledo International Inc.  (PendoTECH)
  • PreSens Precision Sensing GmbH
  • Sartorius AG
  • Broadley-James Corporation
  • Saint-Gobain (Equflow)
  • Dover 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.

COVID-19 Detection Kits Market Expected to Witness a Sustainable Growth over 2030: Grand View Research Inc.

 COVID-19 Detection Kits Market Growth & Trends

The global COVID-19 detection kits market size is expected to reach USD 4.06 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to register a -4.6% CAGR over the forecast period. The COVID-19 pandemic has posed several challenges to the global healthcare systems. The diagnostics area is recognized as one of the primary elements of efforts to contain the spread and circumvent its adverse impact globally. As a result, companies are ramping up their production process to meet the demand or kits and reagents as well as at-home tests, thereby driving the market revenue.

Constantly increasing demand for rapid diagnostic tests that can deliver results in less time coupled with a shortage of testing materials has triggered the development of antibody and antigen test kits. For instance, in August 2020, Abbott Laboratories secured approval for a COVID-19 portable antigen test that can deliver results in 15 minutes.

Despite the time and cost-related challenges, molecular assay remains the key detection method owing to high sensitivity and specificity. As a result, the kits for RT-PCR based molecular assay are witnessing a huge rise in demand across the globe. The continuous growth in the shipping of the molecular test kit depicts the high demand for these kits. For instance, in May 2020, Siemens Healthineers announced its plans to ship more than 2.5 million molecular PCR test kits per month.

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COVID-19 Detection Kits Market Report Highlights

  • RT-PCR assay kits are estimated to account for the major revenue share owing to the high usage rate of PCR testing. High reliability of test results is the key contributing factor of high adoption of RT-PCR assays across the globe
  • Nasopharyngeal (NP) swabs are estimated to capture maximum revenue share owing to the dependence of RT-PCR assays on NP swabs. Healthcare institutes and testing service providers have collaborated with market participants for the supply of NP swabs to test patients at a large scale
  • Centralized testing (Non-PoC) is currently the key mode of testing and thus it is anticipated to maintain its dominance through 2020. Through this mode, healthcare professionals can process a massive number of samples with great efficiency and a high level of automation, thereby driving the segment growth
  • In the current market, laboratories is the key revenue-generating end-user segment with a high number of a testing process taking place within laboratory settings
  • With a high number of cases and testing, Asia Pacific is anticipated to maintain its dominance throughout the forecast period. Asian countries are focusing on rapid antigen testing as a cost-effective strategy to contain the spread, resulting in the revenue growth of this region

Access Press Release@ https://www.grandviewresearch.com/press-release/global-covid-19-detection-kits-market

COVID-19 Detection Kits Market Segmentation

Grand View Research has segmented the global COVID-19 detection kits market based on product, sample type, mode, end-use, and region:

COVID-19 Detection Kits Product Outlook (Revenue, USD Million, 2020 - 2030)

  • RT-PCR Assay Kits
  • Immunoassay Test Strips/Cassettes

COVID-19 Detection Kits Sample Type Outlook (Revenue, USD Million, 2020 - 2030)

  • Nasopharyngeal (NP) Swab
  • Oropharyngeal (OP) Swab
  • Nasal Swabs
  • Others

COVID-19 Detection Kits Mode Outlook (Revenue, USD Million, 2020 - 2030)

  • Decentralized or Point-of-Care (PoC) Testing
  • Centralized Testing (Non-PoC)

COVID-19 Detection Kits End-use Outlook (Revenue, USD Million, 2020 - 2030)

  • Laboratories
  • Hospitals
  • Diagnostic Centers and Clinics
  • Others

COVID-19 Detection Kits Regional Outlook (Revenue, USD Million, 2020 - 2030)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK.
    • France
    • Italy
    • Spain
    • Denmark
    • Sweden
    • Norway
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
  • Latin America
    • Brazil
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Kuwait
    • UAE

List of Key Players in COVID-19 Detection Kits Market

  • Hoffmann-La Roche AG
  • Perkin Elmer, Inc.
  • Thermo Fisher Scientific, Inc.
  • Veredus Laboratories
  • DiaSorin
  • altona Diagnostics GmbH
  • Mylab Discovery Solutions Pvt Ltd.
  • Abbott
  • Luminex Corporation
  • Quidel 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.

U.S. Procalcitonin, IL-6, And IL-10 Tests Market Forecasted to Grow at Steady Pace During 2024-2030: Grand View Research Inc.

 U.S. Procalcitonin, IL-6, And IL-10 Tests Market Segmentation

The U.S. procalcitonin, IL-6, and IL-10 tests market size is anticipated to reach USD 300.5 million by 2030 and is anticipated to expand at a CAGR of 4.37% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing cases of sepsis and bacterial infections in the U.S. are significant drivers of the demand for these biomarker tests. These tests are crucial for the early detection and management of infections, thereby driving the market growth. Furthermore, innovations and improvements in testing technologies, including automation and high-throughput systems, have made these tests more accessible and reliable, leading to an increase in their usage.

PCT testing has emerged as a valuable tool, as elevated PCT levels are associated with bacterial infections, while low PCT levels indicate viral or noninfectious causes of inflammation. By measuring PCT levels, clinicians can differentiate between bacterial & viral infections, guiding antibiotic therapy decisions and reducing antibiotic prescribing rates in cases where antibiotics may not be warranted. Studies have demonstrated that PCT-guided antibiotic therapy reduces antibiotic exposure, shorter treatment durations, and decreased rates of antibiotic-related adverse events, all contributing to antimicrobial stewardship goals.

Furthermore, IL-6 & IL-10 testing complement PCT by providing additional information on the severity of systemic inflammation and immune dysregulation, which are important considerations in antimicrobial stewardship decision-making. Elevated IL-6 levels have been associated with severe infections & adverse clinical outcomes, while IL-10 levels may reflect immune suppression and increased susceptibility to secondary infections. Biomarker-based diagnostic tests, including IL-6 & IL-10 assays, enable clinicians to risk-stratify patients, monitor disease progression, and tailor antibiotic therapy based on individual patient characteristics & clinical status.

The COVID-19 pandemic has significantly impacted the U.S. market for Procalcitonin, IL-6, and IL-10 tests. The pandemic led to an increase in demand for biomarker tests. These biomarkers became crucial in assessing the severity and prognosis of COVID-19 in patients, thereby driving up the demand for these tests. Healthcare facilities and professionals prioritized COVID-19 management and diagnosis, temporarily shifting focus and resources toward COVID-19-related diagnostics. This resulted in increased production and utilization of tests that could help manage the disease effectively. The urgent need for effective COVID-19 management strategies led to significant government and private sector investment in research and development of diagnostic tests, including those for Procalcitonin, IL-6, and IL-10. This financial support accelerated advancements in test development and availability.

Cost constraints present a significant restraint to the adoption of PCT, IL-6, and IL-10 tests in the U.S. The expenses associated with biomarker testing, including test acquisition, instrumentation, and personnel training, can pose financial challenges for healthcare providers & institutions, particularly in resource-limited settings or underinsured patient populations. Reimbursement policies and coverage limitations may worsen cost concerns, limiting access to biomarker testing as well as hindering its widespread utilization in clinical practice.

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U.S. Procalcitonin, IL-6, And IL-10 Tests Market Report Highlights

  • The inpatient patient type segment held the largest market share in 2023 and is anticipated to witness the fastest CAGR of 4.5% during the forecast period
  • Based on type, the market is segmented into procalcitonin, IL-6, and IL-10. IL-6 segment accounted for largest revenue share of 59.34% in 2023.
  • The hospitals end use segment accounted for the largest revenue share in 2023
  • Based on payer type, the market is segmented into insurance and out-of-pocket. The insurance segment held the largest market share in 2023.
  • The IL-6 application segment accounted for the largest revenue share of in 2023.Sepsis is a major segment in the IL-6 application segment.

Access Press Release@ https://www.grandviewresearch.com/press-release/us-procalcitonin-il-6-il-10-tests-market-analysis

U.S. Procalcitonin, IL-6, And IL-10 Tests Market Segmentation

Grand View Research has segmented the U.S. procalcitonin, IL-6, and IL-10 tests market based on patient type, type, application, end use, payer type, and state:

U.S. Procalcitonin, IL-6, And IL-10 Tests Patient Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Inpatient
  • Outpatient

U.S. Procalcitonin, IL-6, And IL-10 Tests Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Procalcitonin
    • Immunoassay
    • Immunochromatography
    • Others
  • IL-6
  • IL-10

U.S. Procalcitonin, IL-6, And IL-10 Tests Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Procalcitonin
    • Bacterial Infection
    • Sepsis
    • COPD
    • Arthritis
    • Others
  • IL-6
    • Bacterial Infection
    • Sepsis
    • Rheumatoid Arthritis
    • Others
  • IL-10
    • Bacterial Infection
    • Allergies
    • Inflammatory Disorders
    • Others

U.S. Procalcitonin, IL-6, And IL-10 Tests End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals
    • 1-100
    • 101-250
    • 251-500
    • 500 and above
  • Laboratories
  • Others

U.S. Procalcitonin, IL-6, And IL-10 Tests Payer Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Insurance
  • Out of pocket

U.S. Procalcitonin, IL-6, And IL-10 Tests State Outlook (Revenue, USD Million, 2018 - 2030)

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

List of Key Players in the U.S. Procalcitonin, IL-6, And IL-10 Tests Market

  • ARUP Laboratories
  • Promega Corporation
  • Quest Diagnostics Incorporated
  • Hoffmann-La Roche Ltd.
  • BIOMÉRIEUX
  • Beckman Coulter, Inc.
  • Thermo Fisher Scientific, Inc.
  • QuidelOrtho 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.

Private Nursing Services Market Trends, Growth Prospects To 2030: Grand View Research Inc.

 Private Nursing Services Market Growth & Trends

The global private nursing services market size is anticipated to reach USD 7.37 billion by 2030, expanding at a CAGR of 5.85% from 2024 to 2030, according to a new report by Grand View Research, Inc. Private nurses provide medical care such as administering medications, managing wounds, and monitoring vital signs to the patients suffering from chronic diseases. They also offer emotional support and help with daily tasks like bathing and dressing. Thus, the increasing prevalence of chronic diseases is anticipated to drive the need for private nursing services over the forecast period.

According to the statistics from the American Cancer Society published in 2023, 1,918,030 new cancer cases were diagnosed in 2022. It is estimated that approximately 1,958,310 new cancer cases were diagnosed in the U.S. in 2023, which is equivalent to 5,370 new cases per day. Due to cancer treatments being long-term and expensive at hospital facilities, the increasing cancer burden in the U.S. is anticipated to require more nursing care, which is expected to drive the market's growth.

Furthermore, the COVID-19 pandemic had a significant impact on private duty nursing (PDN) services, particularly for children with medical complexities (CMC). In a study conducted by the Center for Research in Education and Social Policy in September 2021, it was found that 32% of shifts were not covered in the six months prior to the pandemic, compared to the period of January-June 2021. This was reported by family caregivers of CMC. This shortage of PDNs led to difficulties in securing PDNs for CMC care, with 44% of family caregivers reporting difficulty in securing PDNs. In addition, the same study reported that 71% of PDNs altered their work schedules during the pandemic, citing reasons such as increased workload, fear of infection, and family obligations. However, with a decrease in COVID-19 cases, the market has since recovered and is likely to increase rapidly in the post-pandemic period.

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Private Nursing Services Market Report Highlights

  • Based on medical condition, the chronic disease management segment held the largest market share in 2023. However, post-operative services are the fastest-growing segment during the forecast period
  • Based on type, the medical care segment accounted for the largest market share in 2023. The growing incidence of chronic diseases such as COPD and asthma, as well as the cost benefits of home care devices and services compared to hospital visits, are the primary factors driving the growth of the medical care segment in the private nursing services market
  • North America dominated the market in 2023 due to factors such as the aging population, increasing demand for personalized care, and the rise in development of healthcare infrastructure
  • In the U.S., a rise in disposable income is expected to drive market growth. For instance, according to Trading Economic Data published in 2023, disposable personal income increased to USD 19,742.3 billion in April 2023 from USD 18,384.3 billion in April 2022. This growth in disposable income may lead to increased spending on healthcare, which is likely to contribute to market growth

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

Private Nursing Services Market Segmentation

Grand View Research has segmented the global private nursing services market based on medical condition, type, and region.

Private Nursing Services Medical Condition Outlook (Revenue, USD Million, 2018 - 2030)

  • Chronic Disease Management
  • Post Operative Services
  • Elderly Care
  • Pediatric Care
  • Others

Private Nursing Services Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical Care
  • Non-Medical Care

Private Nursing Services Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Private Nursing Services Market

  • BAYADA Home Health Care
  • Maxim Healthcare Services
  • NurseRegistry
  • Aveanna Healthcare LLC
  • Homage Sdn. Bhd
  • Private Nursing Care
  • Curantis Private Nursing services LLC
  • CK Franchising, Inc.
  • Providence
  • Private Nurse ApS
  • Active Global Specialised Caregivers Pte Ltd
  • Red Crowns
  • ATLANTIC CARE SERVICES
  • Sublime Nursing
  • Private Duty Nursing in an Acute Hospital

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.

Monday 16 September 2024

Draught Beer Market Size, Industry Share And Growth Analysis For 2024-2030: Grand View Research Inc.

 Draught Beer Market Growth & Trends

The global draught beer market size is anticipated to reach 59.39 billion by 2030, exhibiting a CAGR of 5.3% from 2024 to 2030, according to a new report by Grand View Research, Inc.The global market is driven by a rising demand for flavorful and lower alcohol beverages. Consumers are increasingly seeking unique taste experiences and craft beer varieties, contributing to the market's growth. This trend is fueled by broadening purchasing power, especially among younger generations, leading to more frequent visits to pubs and bars where draught beer is a popular choice.

Another significant driver is the growing trend of socializing and dining out. Draught beer is often associated with social gatherings, sports events, and leisure activities, enhancing its appeal. There is also increasing awareness about the potential health benefits of moderate beer consumption, such as reducing cholesterol levels and improving kidney health, which is driving the demand for draught beer.

The rising interest in craft beers and the trend of beer connoisseurship have propelled the demand for specialty and unique draught beer varieties. Consumers are seeking novel taste experiences, driving growth in this segment. Additionally, the resurgence of the hospitality and tourism industries post-pandemic has led to an increase in on-premise consumption of draught beer in bars, pubs, restaurants, and entertainment venues, further fueling the market.

Manufacturers are revolutionizing draught beer with innovations focused on quality, sustainability, and consumer experience. Nitro technology creates smoother textures, while smart taps and digital pour systems ensure precise control over beer flow and freshness. Customization options allow consumers to adjust carbonation and flavor, while eco-friendly kegs reduce environmental impact.

In March 2023, HEINEKEN USA Inc. unveiled Heineken Silver, a light lager with low carbs and calories. This beer features 4% alcohol by volume (ABV), with each 12-ounce serving containing just 3.2 grams of carbs and 95 calories. It is made with malted barley, water, and the company’s proprietary A Yeast. It is brewed to deliver a full-bodied flavor without the bitterness often associated with other lagers.

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Draught Beer Market Report Highlights

  • Keg draught beer accounted for a share of over 63.82% of the global revenues in 2023. Keg draft beer offers superior quality control compared to other packaging formats like bottles or cans. Breweries place importance on their brewing mechanism and ensure that the beer is kept under optimal conditions, such as temperature and pressure, from the brewery to the tap. Additionally, the standardized keg sizes facilitate easy storage, transportation, and use with existing tap systems, thereby enhancing operational efficiency and reducing waste. This combination of quality preservation, convenience, and cost-effectiveness drives the preference for keg beer in the draught market.
  • Super premium draught beer is anticipated to grow at a CAGR of 6.9% from 2024 to 2030. The rise of the gastropub and upscale casual dining sectors has significantly contributed to the market's growth. These establishments often prioritize offering a curated selection of draught beers that complement their gourmet food offerings, enhancing the overall dining experience. The ambiance and service quality in such venues aligns well with the expectations of super-premium beer consumers, who are willing to pay a premium for a superior product served in an appropriate setting.
  • Commercial use of draught beer accounted for a share of over 87% of the global revenues in 2023 due to its significant presence in bars, pubs, and restaurants, where draught beer is a staple offering. The primary driver is the desire for a premium and differentiated beverage experience in commercial settings such as bars, restaurants, and entertainment venues. Draught beer offers a fresher and more flavorful option compared to bottled or canned beer, providing establishments with a competitive edge in attracting and retaining customers who seek high-quality beverages.
  • Draught beer manufactured through microbreweries is anticipated to grow at a CAGR of 6.3% from 2024 to 2030. Microbreweries frequently offer a wide range of beer styles and flavors, appealing to diverse tastes. Draught beer allows them to rotate their offerings more easily, keeping their selection fresh and exciting for customers.
  • Europe market held a share of 44.56% of the global market in 2023. Europe has a long-standing tradition of beer consumption, with many countries having their own unique beer cultures. Draught beer is often preferred for its freshness and taste, especially in countries like Germany, Belgium, and the UK.

Access Press release@ https://www.grandviewresearch.com/press-release/global-draught-beer-market

Draught Beer Market Segmentation

Grand View Research has segmented the global draught beer market based on product, category, end user, type, and region.

Draught Beer Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Keg Beer
  • Cask Beer

Draught Beer Category Outlook (Revenue, USD Million, 2018 - 2030)

  • Super Premium
  • Premium
  • Regular

Draught Beer End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Commercial Use
  • Home Use

Draught Beer Production Outlook (Revenue, USD Million, 2018 - 2030)

  • Macro Breweries
  • Microbreweries

Draught Beer Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK.
    • Spain
    • Italy
    • France
    • Ireland
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • South Korea
  • Central & South America
    • Brazil

List of Key Players in the Draught Beer Market

  • Anheuser-Busch InBev
  • Boston Beer Company
  • Heineken International B.V.
  • Anadolu Efes
  • Asahi Group Holdings, Ltd.
  • Molson Coors Beverage Company
  • China Resources Snow Breweries
  • Carlsberg
  • New Belgium Brewing Company
  • Castel Frères
  • Constellation Brands, 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.

Biomass Power Market To Reap Over $203.61 Billion In Revenues By End Of 2030: Grand View Research Inc.

 Biomass Power Market Growth & Trends

The global biomass power market size is expected to reach USD 203.61 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.3% from 2024 to 2030. The growing concerns about Greenhouse Gas (GHG) emissions have resulted in favorable policies and regulations for renewable energy, which has been the key factor driving the growth of this market. The COVID-19 pandemic has hampered the market growth globally owing to the disruptions in the supply chain, which resulted in delays for some projects. The power demand has declined from commercial and industrial end-users in the non-essential category due to the closure of operations during the lockdown.

These factors have resulted in delays in the construction of new biomass power plants and reduced power supply from existing biomass power plants. Solid biofuel has emerged as the dominant feedstock segment in the market owing to its easy availability. Moreover, it is simpler to use than liquid biofuel and biogas in power generation applications. The combustion technology segment accounted for the largest market share in 2021, in terms of revenue. The growth of this segment can be attributed to lower costs of combustion technology than anaerobic digestion and gasification technologies. Europe has emerged as the major regional market owing to the presence of supportive policies and plans, coupled with the announcement of the phasing-out of coal-based power plants by the leading European countries, such as the U.K., Germany, and France.

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Biomass Power Market Report Highlights

  • In terms of revenue, the solid biofuel segment accounted for the dominant revenue share in 2023 and is projected to expected further over the forecast period
  • Germany dominated the Europe regional market and accounted for the maximum revenue share in 2023
  • The high rate of depletion of fossil fuels in the Europe region is creating ample growth opportunities for this market
  • The European Union has set a target to fulfill a significant portion of its energy requirements from renewable sources
  • The focus of governments of different countries of the region on reducing carbon emissions also creates ample opportunities for the market
  • Some of the major strategic initiatives undertaken by vendors in the biomass power market include M&A & R&D activities, overseas business expansions, and strategic collaborations among the market participants

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

Biomass Power Market Segmentation

Grand View Research has segmented the global biomass power market report based on feedstock, technology, and region

Biomass Power Technology Outlook (Revenue, USD Million; Volume, Million MWh, 2018 - 2030)

  • Combustion
  • Gasification
  • Anaerobic Digestion

Biomass Power Feedstock Outlook (Revenue, USD Million; Volume, Million MWh, 2018 - 2030)

  • Solid Biofuel
  • Liquid Biofuel
  • Biogas

Biomass Power Regional Outlook (Revenue, USD Million; Volume, Million MWh, 2018 - 2030)

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

List of Key Players of the Biomass Power Market

  • Mitsubishi Heavy Industries, Ltd.
  • Suez
  • Xcel Energy Inc.
  • Ramboll Group A/S
  • Babcock & Wilcox Enterprises, Inc.
  • Ørsted A/S
  • Ameresco
  • General Electric
  • Veolia
  • Vattenfall

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.

AI-based Surgical Robots Market is Expected to Amplify USD 25.2 Billion Value by 2030: Grand View Research Inc.

AI-based Surgical Robots Market Growth & Trends The global  AI-based surgical robots market  size is expected to reach USD 25.2 billion ...