Microgrid Market to Reap Excessive Revenues By 2030

 Microgrid Market Growth & Trends

The global microgrid market size is expected to reach USD 224.34 billion by 2030, registering a CAGR of 17.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

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Microgrid Market Report Highlights

• The Combined Heat & Power (CHP) power source segment dominated the global market and accounted for more than 37.0% of the overall revenue share in 2023. Shifting preference from conventional Separate Heat & Power (SHP) system to energy generation from single fuel is expected to have a substantial impact on the segment growth.
• The grid-connected product segment dominated the global market and accounted for more than 65.0% of the overall revenue share in 2023. The rising popularity of smart micro-grid-connected PV systems to provide electricity to consumers by reducing transmission losses is expected to have a substantial impact.
• North America led the global market and accounted for more than 35.0% of the overall revenue share in 2023. The high adoption rate of captive power generation methods in the industrial and municipal sectors of the U.S. for reducing reliance on the government-controlled power supply is expected to have a substantial impact.

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Microgrid Market Segmentation

Grand View Research has segmented the global microgrid market on the basis of on power source, product, application, and region:

Microgrid  Power Source Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Natural Gas
• CHP
• Solar PV
• Diesel
• Fuel Cell
• Others

Microgrid  Product Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Remote
• Grid Connected
• Hybrid

Microgrid  Application Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

• Government
• Education
• Commercial
• Utility
• Defense
• Others

Microgrid  Regional Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Microgrid Market

• ABB
• Siemens AG
• General Electric
• Eaton Corp.
• Exelon
• Honeywell International
• NRG International
• Anarbic
• Pareto
• Spirae
• Northern Power
• Viridity

About Grand View Research

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

Zero Trust Security Market Poised to Expand at a Robust Pace of $82.45 Billion Over 2030: Grand View Research Inc.

Zero Trust Security Market Growth & Trends

The global zero trust security market size is anticipated to reach USD 82.45 billion by 2030, growing at a CAGR of 16.6% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The growing sophistication of cyber threats and their negative impact on an organization’s operational activity have compelled several policymakers, governments, and authorities to implement and form regulations. Currently, more than 120 countries have implemented some form of privacy laws for data protection. This is to promote data security and support consumers in ensuring that data is stored in a secured infrastructure. For instance, in August 2021, China legislated its omnibus data protection legislation, the Personal Information Protection Law (PIPL), which protects personal data and regulates processing. It went into effect on November 1, 2021. The PIPL is intended to govern the processing of Personal Information (PI) of Chinese citizens within and outside of China. The PIPL coexists with the Chinese Cybersecurity Law (CSL), which governs internet service providers, internet infrastructure, and national cyber security, and the Data Security Law (DSL), which governs data security in general.

The regulations and laws related to data protection generally follow the principles of notice, choice and consent, access and participation, integrity and security, and enforcement. These principles form a basic structure to advise users of the policies to safeguard their personal information, a consent to store or collect personal information, ensure the information has no unauthorized access, and ensure data collection follows compliance. As the Internet of Things (IoT) expands across organizations and an increasing number of IoT applications collect consumer data from several touchpoints, the risk of data theft and unauthorized access to data increases. Data protection regulations and laws are essential to prevent such attempts. Such regulations compel companies to maintain adequate security compliances and form zero-trust policies, driving market growth.

Over the years, targeted attacks on organizations across the globe have increased significantly. Attackers infiltrate a target organization's network infrastructure through endpoints, cloud-based applications, and other vulnerable networks. Such targeted attacks negatively impact a business's critical operations, leading to financial losses, loss of sensitive customer information, and loss of intellectual property. According to a sponsored study conducted by Trend Micro Incorporated with Quocirca, the most common objective of a targeted cyberattack is to impact organizational financial gains. Thus, a proactive detection layer is paramount to prevent the risk of losing regulated personal data, intellectual property, and financial loss. Through zero security principles, proactive detection and mitigation of cyber threats can be achieved by identifying the behavior of users infiltrating any network.

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Zero Trust Security Market Report Highlights

• The network security segment of the market is expected to register the highest CAGR from 2023-2030, more than 18%. The growth of the network security segment can be attributed to its benefits which include mitigating risks, protecting propriety information, and enabling a modern workplace, among others
• During the forecast period, the cloud segment is expected to witness the highest CAGR of more than 16% in the market. The growth of the cloud segment can be attributed to benefits such as better scalability, flexibility, and improved security, among others
• The multifactor authentication segment is estimated to occupy the largest share of the market by authentication in 2022. The multifactor authentication offers added layers of security, which have been a major factor in the segment's growth
• The SME segment of the market is projected to register the highest growth rate over the forecast period, owing to the rising need for cyber security among SMEs, and the low price of zero trust security owing to cloud deployment has also been driving the growth of the SME segment
• The healthcare segment of the zero trust security model is projected to register the highest growth rate of 19%. The increasing cyber-attack against the healthcare industry has been a major driving factor for adopting zero-trust security
• The Asia Pacific region of the zero trust security industry is projected to witness the highest growth rate by region over the forecast [period. The region's growth can be attributed to rising digitalization combined with improving cybersecurity regulation.  

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Zero Trust Security Market Segmentation

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

Zero Trust Security Security Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Network Security
• Data Security
• Endpoint Security
• Cloud Security
• Others

Zero Trust Security Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• On-premises
• Cloud

Zero Trust Security Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

• SMEs
• Large Enterprise

Zero Trust Security Authentication Outlook (Revenue, USD Billion, 2018 - 2030)

• Single-factor Authentication
• Multi-factor Authentications

Zero Trust Security Application Outlook (Revenue, USD Billion, 2018 - 2030)

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

Zero Trust Security Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

Key players in the Zero Trust Security Market

• Akamai Technologies
• Appgate
• Broadcom
• Check Point Software Technologies Ltd.
• Cisco Systems, Inc.
• Cloudflare, Inc.
• CrowdStrike
• Forcepoint
• Fortinet, Inc.
• IBM
• Musarubra US LLC
• Microsoft
• Okta
• Palo Alto Networks
• Zscaler, 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.

Biomaterials Market Expected to Witness a CAGR of 15.6% through 2030

Biomaterials Market Growth & Trends

The global biomaterials market size is expected to reach USD 488.70 billion by 2030, registering a CAGR of 15.52% over the forecast period, according to a new report by Grand View Research, Inc. The application of biomaterials represents a fast-growing field in biomedical research. Recent advances in the improvement of bioactivity, compatibility, and mechanical properties of biomaterials have introduced new opportunities for their application in tissue engineering, immune engineering, and drug delivery systems. 

Biocompatibility, low toxicity, and renewable nature of polymeric biomaterials make them potent drug delivery agents in controlled and targeted drug delivery, thus providing lucrative opportunities for the market growth. The advent of improved drug delivery approaches, such as PEG-coated liposomes, biopolymer-coated liposomes, and nanomaterials drug delivery, further expands the prospects of these biopolymers in the pharmaceutical and medical industries.

 Use of biomaterials has greatly benefited the regeneration of the cardiopulmonary system. These materials provide physical support and physiological and chemical cues to seeded cells to assist the tissue regeneration process. Integration of biomaterials with nanotechnology techniques also stimulates the regeneration of damaged cardiomyocytes’ extracellular matrix, thus replacing the traditional organ transplantation procedures. 

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Biomaterials Market Report Highlights

• High availability of natural and synthetic degradable polymers and their wide usage as surgical sutures and implants resulted in the largest revenue share of the polymers product segment
• Natural products have gained immense popularity as a source of novel bioactive substance for the development of novel drugs, leading to fastest growth of this segment
• Increasing incidence of chronic skeletal and musculoskeletal conditions is expected to raise the demand for biomaterials for orthopedics application at a large scale
• The infection from coronavirus, that is, SARS-COV-2 can be detected using existing biomedical devices which are based on either Polymerase Chain Reaction (PCR) or Non-PCR methods
• Improvement in the surface modification of silicone breast implants to prevent capsular contracture is one of the factors driving the biomaterial usage in the plastic surgery segment at the fastest rate
• Biosensor, is an analytical device that is used to detect analytes such as biomolecules or biological elements of species produced by micro-organisms, that is tissues, enzymes, and organelles
• North America is expected to dominate the market in terms of revenue share owing to the presence of public and private agencies promoting biomaterial usage by hosting events and funding initiatives
• Asia Pacific is anticipated to grow at a rapid pace owing to the presence of several local manufacturers developing low-cost biomaterial products, mainly in China
• Prominent players operating in the market include Medtronic, Evonik, DSM, BASF, Berkeley Advanced Biomaterials, Covalon Technologies, and Zimmer Biomet Holdings
• Companies are engaged in several strategic growth initiatives, such as novel product developments, partnerships, and regional expansion to reinforce their market presence
• For instance, in March 2022, Medtronic announced a collaboration with Vizient to add Touch Surgery Enterprise to Vizient's portfolio, which is an AI-powered video management and analytical platform that provides surgical teams with simple access to procedural recordings and insights

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

Biomaterials Market Segmentation

Grand View Research has segmented the global biomaterials market on the basis of product, application, and region: 

Biomaterials Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Metallic
• Natural
• Ceramics
• Polymers

Biomaterials Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Cardiovascular
  • Sensors
  • Stents
  • Guidewires
  • Implantable Cardiac Defibrillators
  • Pacemakers
  • Vascular Grafts
  • Others
• Ophthalmology
  • Synthetic Corneas
  • Intraocular Lens
  • Contact Lens
  • Ocular Tissue Replacement
  • Others
• Dental
  • Tissue Regeneration Materials
  • Dental Implants
  • Bone Grafts & Substitutes
  • Dental Membranes
  • Others
• Orthopedic
  • Joint Replacement Biomaterials
  • Orthobiologics
  • Bioresorbable Tissue Fixation Products
  • Viscosupplementation
  • Spine Biomaterials
  • Others
• Wound Healing
  • Fracture Healing Device
  • Adhesion Barrier
  • Skin Substitutes
  • Internal Tissue Sealant
  • Surgical Hemostats
  • Others
• Tissue Engineering
• Plastic Surgery
  • Facial Wrinkle Treatment
  • Soft Tissue Fillers
  • Craniofacial Surgery
  • Bioengineered Skins
  • Peripheral Nerve Repair
  • Acellular Dermal Matrices
  • Others
• Neurology
  • Neural Stem Cell Encapsulation
  • Shunting Systems
  • Hydrogel Scaffold For CNS Repair
  • Cortical Neural Prosthetics
  • Others
• Others

Biomaterials Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in Biomaterials Market

• Medtronic plc
• Evonik Industries AG
• Carpenter Technology Corporation
• Berkeley Advanced Biomaterials
• Invibio Ltd.
• Zimmer Biomet Holdings, Inc.
• BASF SE
• Covalon Technologies Ltd.
• Stryker
• Johnson & Johnson
• Dentsply Sirona
• CoorsTek Inc.
• Corbion
• Collagen Matrix, 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.

Silicon Carbide Market Witness Excellent Revenue Growth During 2023-2030: Grand View Research Inc

 Silicon Carbide Market Growth & Trends

The global silicon carbide market size is expected to reach USD 7.98 billion by 2030, registering a CAGR of 11.7% according to a new report by Grand View Research, Inc. The rising prominence of silicon carbide in the production of Single-crystal SiC wafers is projected to aid the market growth over the forecast period. In the last few years, the consumption of single-crystal SiC wafers increased significantly, especially to manufacture electronic chips in the semiconductor industry. The increasing need to produce compact and right design electronic devices is projected to further push the product demand in the semiconductors industry. These single-crystal wafers offer limited power loss in the form of heat owing to the reduced leakage currents and wide-bandgap. Moreover, the SiC-based wafers are equipped to handle 10 times more voltage than their counterpart materials.

The rising usage of SiC-based chips in the electronic section of Electric Vehicles (EVs) is anticipated to positively influence the dynamics of the industry over the forecast period. The prominent EV manufacturers, including Tesla, use SiC-based chips in their vehicles. As per the recent news, Tesla is establishing its new EV manufacturing in India. Such new investments are likely to provide opportunities for the growth of the market of SiC and its associated products over the predicted timeline. The organic and inorganic growth strategies adopted by key players in the semiconductor industry are also likely to support the growth of the market. For instance, in January 2019, Cree, Inc., signed a long-term agreement to supply SiC wafers to STMicroelectronics. The adoption of SiC power devices in electronics, renewable energy systems, and automotive has increased tremendously over the last few years and is anticipated to gain additional thrust over the coming years.

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Silicon Carbide Market Report Highlights

• The black SiC product segment is projected to dominate the overall market, in terms of volume as well as revenue, by 2030
• The healthcare segment is anticipated to register the fastest CAGR over the forecast period. The segment is projected to observe a significant CAGR, in terms of revenue, from 2023 to 2030
• Post-pandemic era is likely to observe higher spending on healthcare infrastructure across the globe, thereby supporting the segment growth
• Steel is projected to remain a key consuming application segment in the industry. The development, in terms of overall crude steel production, in 2022 is likely to aid the segment growth in the near future
• Asia Pacific is expected to remain a dominant regional market over the forecast period owing to the presence of major steel-manufacturing countries in the region

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Silicon Carbide Market Segmentation

Grand View Research has segmented the silicon carbide market on the basis of product, application, and region:

Silicon Carbide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Black Silicon Carbide
• Green Silicon Carbide

Silicon Carbide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Steel
• Automotive
• Aerospace
• Military & Defense
• Electrical & Electronics
• Healthcare
• Others

Silicon Carbide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
• Europe
  • Germany
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa (MEA)

List of Key Players in the Silicon Carbide Market

• AGSCO Corporation
• Carborundum Universal Limited
• Washington Mills
• Coorstek
• Entegris, Inc.
• ESD-SIC b.v.
• Snam Abrasives Pvt. Ltd.
• Gaddis Engineered Materials
• Grindwell Norton Ltd.
• SK siltron 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.

Simulation Software Market to Incur Meteoric Growth During 2024 to 2030: Grand View Research Inc.

 Simulation Software Market Growth & Trends

The global simulation software market size is estimated to reach USD 51.11 billion by 2030, registering a CAGR of 13.6% from 2024 to 2030, according to a new study by Grand View Research, Inc. Simulation software is being used for training personnel. It is replacing the traditional real-time training techniques, which incurred huge investments annually for companies. The use of simulation for training purposes helps reduce training costs as companies need to make a one-time investment for software implementation. The software also helps enterprises minimize production costs by enhancing the product development process.

The need for developing prototypes and the chances of product failure are considerably reduced through the use of simulators, as the product is virtually tested for all possible glitches before the commencement of production. Furthermore, simulation-based tools help product developers reduce the time spent on R&D processes as it enables them to obtain a realistic view of a product or process under study or review. Organizations across the globe are increasingly implementing the program and analyzing tools to enhance the entire product development cycle, reduce time to production, ensure delivery of high-quality products in minimal time, and reduce the overall cost to the company with respect to R&D.

It requires a skilled workforce or personnel with the required knowledge and understanding. This is leading to several manufacturers being reluctant to adopt this technology as the need for a skilled workforce incurs additional costs. The COVID-19 pandemic had an adverse impact on the global market. The closure of national and international borders in major countries, such as China, Japan, and India, has caused severe supply chain disruptions. In addition, the temporary shutdown of manufacturing operations has led manufacturing companies to face severe budgetary issues, resulting in delayed subscription renewal payments during the pandemic’s initial phase. However, recovering economies and opening businesses are expected to help the market grow at a rapid pace over the forecast period.

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Simulation Software Market Report Highlights

• The market is being driven by reduced training costs for personnel in various industries and sectors, such as automotive, defense, healthcare, and electrical
• The service segment is expected to register a CAGR of 15.0% owing to the growing demand for customized simulation solutions, such as design and consulting
• The cloud-based segment is expected to register the fastest CAGR of approximately 15.4% over the forecast period owing to benefits, such as easy and low-cost implementation
• The automotive segment dominated the market in 2023 and is expected to hold a major share by 2030 owing to the early adoption of virtual testing tools in the automotive industry
• North America is expected to account for the highest market share followed by Asia Pacific, by 2030 owing to the growing investments in R&D and defense in countries, such as the U.S.
• Leading players are focusing on developing new simulation software solutions, to capture maximum share

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Simulation Software Market Segmentation

Grand View Research has segmented the global simulation software market on the basis of component, deployment, application, end-use, and region:

Simulation Software Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software
• Services
  • Simulation Development Services
  • Training and Support & Maintenance

Simulation Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• On-Premise
• Cloud

Simulation Software Application Outlook (Revenue, USD Million, 2017 - 2030)

• Engineering, Research, Modeling & Simulated Testing
• High Fidelity Experiential 3D Training
• Gaming & Immersive Experiences
• Manufacturing Process Optimization
• AI Training & Autonomous Systems
• Planning And Logistics Management & Transportation
• Cyber Simulation

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

• Conventional Automotive
• Electric Automotive and Autonomous Vehicles
• Aerospace & Defense
• Electrical, Electronics and Semiconductor
• Healthcare
• Robotics
• Entertainment
• Architectural Engineering and Construction
• Others

Simulation Software Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of Simulation Software Market

• Altair Engineering, Inc.
• Autodesk Inc.
• Ansys, Inc.
• Bentley Systems, Inc.
• Dassault Systèmes
• MathWorks, Inc.
• Rockwell Automation, Inc.
• Simulations Plus
• ESI Group
• GSE Systems

About Grand View Research

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

Digital Map Market is Estimated To Expand at a CAGR of 15.8% through 2030| Top Industry Leaders TomTom International B.V.

 

Digital Map Market Growth & Trends

The global digital map market size is estimated to reach USD 54.98 billion by 2030, expanding at a CAGR of 15.8% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market is anticipated to have a significant demand from navigational application developers as well as geographical information system (GIS) operators, who are driven by an increasing end-user base. The increase in the number of smartphone and internet users has fueled global growth. Moreover, the rise in the number of connected and semi-autonomous cars, and expected developments in self-driving and navigation technology, among others are anticipated to drive global demand.

Rising demand for geospatial information in recent years is driving the growth of digital cartography technology. Applications such as logistics management, congestion intelligence, location, traffic, and smart parking need routing and congestion updates in real-time. With significant technological advancements in digital cartography, it is supporting these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to enhance the demand growth in the coming years.

The growing demand for topographical & environmental information systems is accelerating their adoption in the public & government sectors. Further, the growing need for maintaining information systems for local governing bodies, defense forces, and law enforcement officials owing to the notable rise in natural & manmade threats is expected to drive the market growth. Market players are focusing on data integration technology in digital map for smooth integration between information systems and maps which is expected to propel the market growth over the forecast period. The key players are expected to indulge in mergers and acquisitions in order to strengthen their digital map offerings, maintain a competitive edge, and achieve higher profitability.

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Digital Map Market Report Highlights

• Digital orthophotography segment is expected to register a CAGR of 17.8% from 2023 to 2030. Digital orthophotography type segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the growth of image-processing, data analysis technology, and the increasing applications in multiple end-use segments such as automotive and mobile devices.
• Consulting segment is anticipated at a CAGR of 18.9% from 2023 to 2030. The consulting segment is expected to witness considerable growth owing to shifting various end-use companies focus digital map consulting services for managing end-to-end mapping services and reduce operational costs.
• The indoor mapping type segment is anticipated to witness the highest market growth of 19.3% CAGR over the forecast period. The growth can be attributed to the increasing use of digital map for navigating complex and huge infrastructures.
• The asset tracking application segment is the fastest growing segment registering a CAGR of 18.3% over the forecast period. This is owing to the increasing demand for digital maps across enterprise solutions, infrastructure, logistics, and other businesses to operate valuable details and streamline their business operations.
• Mobile devices segment is expected to register a CAGR of 17.9% through 2030. The mobile devices segment is expected to witness the fastest growth over the forecast period owing to a significant rise in location-based services demand to improve the user's experience and maximize business profitability.
• Exploration activities are expected to increase in developing regions of the world, while demand for real-time data and information is expected to increase in developed countries. Asia Pacific is the fastest-growing regional segment registering a CAGR of 17.0% in the forecast period, owing to an increase in the number of smartphone users and vehicles in the region. Further, the rising technological advancements in navigation and significant penetration of smartphones is driving the Asia Pacific digital map market.

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Digital Map Market Segmentation

Grand View Research has segmented the global digital map market based on type, usage, service, application, and region:

Digital Map Type Outlook (Revenue, USD Million, 2018 - 2030)

• Geographic Information System (GIS)
• LiDAR
• Digital Orthophotography
• Aerial Photography
• Global Positioning System (GPS)

Digital Map Service Outlook (Revenue, USD Million, 2018 - 2030)

• Consulting
• Development & Integration
• Support & maintenance

Digital Map Mapping Type Outlook (Revenue, USD Million, 2018 - 2030)

• Indoor
• Outdoor
• Metaverse

Digital Map Application Outlook (Revenue, USD Million, 2018 - 2030)

• Asset Tracking
• Geo-positioning and Geocoding
• Routing and Navigation
• Others (Reverse Geocoding, Real-time location data management, Catchment Analysis)

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

• Automotive
• Military & Defense
• Mobile Devices
• Enterprise Solutions
• Logistics, Travel, and Transportation
• Infrastructure Development and Construction
• Others (Oil & gas, Agriculture)

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

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

List of Key Players in the Digital Map Market 

• AutoNavi Holdings Ltd.
• Apple Inc.
• Maxar Technologies.
• Environmental Systems Research Institute (ESRI), Inc.
• Google LLC (Alphabet Inc.).
• Getmapping PLC.
• HERE Holding Corporation
• Intermap Technologies Corporation
• NavInfo Co., Ltd.
• TomTom International BV
• Zenrin 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.

Precision Medicine Market Valuation to Reach $249.24 Billion by the end of 2030

 Precision Medicine Market Growth & Trends

The global precision medicine market size is expected to reach USD 249.24 billion by 2030 growing at a CAGR of 16.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Trends such as introduction of cost-effective genomic and molecular biology testing methods, increasing prevalence of cancer and rare diseases, and rising use of big data in precision medicine are some of the key factors boosting market growth.

The Human Genome Project introduced some marvelous cutting-edge techniques such as whole genome sequencing and targeted sequencing. These technologies are being used by researchers for the study of genomes and creation of personalized therapies for treatment of various illnesses. Today, the prevalence of diseases in areas such as oncology, immunology, and neurology has rapidly increased across the globe.

Researchers, healthcare professionals, and big pharma and biotech companies are working together to recognize new focused treatments options for the wellbeing of patients. Currently, there are many therapies and drugs under clinical trials for treatment of different types of cancers. Moreover, researchers have also shown an inclination toward development of precision medicines and diagnostics in non-oncologic disease areas.

Apart from therapeutics, the diagnostics field has also witnessed rapid growth in the past few years. The use of next generation sequencing (NGS), biomarkers, companion diagnostics, and esoteric tests can possibly change and affect prescription patterns of pharmaceutical medicines. Personalized medicines have very high chances of becoming a massive success in the next 20 years and have the capacity to treat and cure a few obstinate illnesses, which was not possible before.

Involvement of government and regulatory bodies has played a very important role in the growth of this field. In 2015, the then U.S. government announced the launch of the Precision Medicine Initiative. The following year, China launched the China Precision Medicine Initiative, which is a 15-year project that aims to build the country as a leader in development of precision therapies.

At present, more than 40% of the medications in biotech and pharmaceutical companies’ improvement pipeline incorporate biomarkers. The overview likewise recommended that some biopharmaceutical organizations have collaborated and joint their ventures in the past five years and are expected to continue doing so in the coming years. The diagnostic and therapeutic precision medicine market thus holds immense potential and is quickly turning into a fundamental segment of patient care.

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Precision Medicine Market Report Highlights

• The therapeutics segment led the market in 2023 and is expected to grow at a CAGR of 15.8% over the forecast period.
• The hospitals segment led the market with a revenue share of 60.0% in 2023. Hospitals provide the ideal setting for personalized medicine due to their comprehensive infrastructure and access to diverse patient populations.
• The North America precision medicine market accounted for 53.62% share in 2023. PMC report published in 2022 notes that personalized medicines now account for more than one in four drugs approved by the FDA since 2014.

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Precision Medicine Market Segmentation

Grand View Research has segmented the global precision Medicine market on the basis of application, end-use, and region:

Precision Medicine Application Outlook (Revenue, USD Million; 2018 - 2030)

• Diagnostics
  • Genetic Tests
  • Direct to Consumer Tests
  • Esoteric Tests
  • Others
• Therapeutics
  • Pharmaceuticals
    • Oncology
    • Respiratory Diseases
    • Skin Diseases
    • CNS Disorders
    • Immunology
    • Genetic Diseases
    • Others
  • Medical Devices
  • Others

Precision Medicine End-use Outlook (Revenue, USD Million; 2018 - 2030)

• Home Care
• Hospitals
• Clinical Laboratories
• Others

Precision Medicine 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
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE

List of Key Players of Precision Medicine Market

• Hoffmann-La Roche Ltd.-(Foundation Medicine)
• Siemens
• Janssen Global Services, LLC
• Illumina, Inc.
• Quest Diagnostics Incorporated
• 23andMe, Inc.
• NeoDiagnostix
• Myriad Genetics
• Medtronic
• GE Healthcare
• Abbott
• QIAGEN

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.

Smart Glass Market to Expand at a CAGR of 9.9% Through 2030: Grand View Research Inc.

Smart Glass Market Growth & Trends

The global smart glass market size is expected to reach USD 12.76 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 9.9% from 2023 to 2030. The growth of the market can be attributed to the growing product demand across the automotive and architectural industries. The emerging trend of deploying innovative technologies in new buildings has instigated the adoption of smart glass products in the architectural sector. The market's expansion is attributed to the growing investment in infrastructure development, high demand for luxury vehicles equipped with smart glass, and government initiatives to construct eco-friendly and energy-efficient buildings. An increase in the glazing area in commercial and residential buildings is expected to affect demand positively over the next few years.

An increasing number of architects suggest using this glass to construct new buildings, which is estimated to lead to high demand in architectural applications. The high adoption of electrochromic glass in automotive and building construction applications has been the primary contributor to the segment’s dominance. There is a rapid growth in the adoption of electrochromic windows that offer control over energy consumption, glare, and comfort in the North America and Europe region. According to the National Renewable Energy Laboratory (NREL), windows made using electrochromic technology are capable of reducing the electricity consumption for cooling by up to 49% and decreasing the costs of lighting by up to 51%. Such benefits of electrochromic technology are opportunistic for the growth of the segment.

Smart glass technology is largely adopted in commercial office buildings and corporate headquarters as it helps save costs considerably while maximizing workplace productivity. Technologies, such as self-cleaning glass, low-emissivity glass, and solar control glass, have become prominent offerings for the construction sector. The increasing number of infrastructure projects, as well as restoration & renovation activities in residential & commercial spaces, is contributing to the growth of the architectural segment. For instance, Evora Public Central Hospital (around USD 228.8 million), Edge East Side Tower (around USD 448.7 million), Baltic Offshore Pipeline (around USD 2,720.1 million), and Flamanville 3 (around USD 14,245.6 million) among others are some of the prominent construction projects in Europe that were planned for the completion in the year 2023.

Companies are adopting strategic initiatives, such as investments in research & development (R&D), mergers & acquisitions, collaborations, partnerships, and new product developments, to gain a competitive edge. For instance, in March 2023, Kognition, an AI safety & security startup, partnered with View Inc., the provider of smart glass, to integrate View’s Smart Building Cloud, an integrated software stack for smart buildings, with Kognition’s SPS smart building software. This partnership is aimed at providing a comprehensive approach to building safety & security and helping the customers deploy & manage a cyber-physical security system powered by AI.

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Smart Glass Market Report Highlights

• Electrochromic segment captured a significant market share of around 62.0% in 2022. This can be credited to increasing consumer demand, driven by the ability of electrochromic glass to control the amount of light passing through it, becoming opaque or transparent through a switch or a remote control.
• Transportation application segment accounted for a considerable market share of around 49.0% in 2022 due to an increased inclination of automakers toward adopting SPD glass, especially in the luxury car segment.
• North America dominated the market in 2022 accounting for largest revenue share of over 33.0%. This growth can be attributed to the growing inclination toward green buildings.
• Asia Pacific is projected to record a fastest CAGR of over 11.0% from 2023 to 2030 as the region presents remarkable growth opportunities in the transportation sector.

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Smart Glass Market Segmentation

Grand View Research has segmented the global smart glass market report based on technology, application, control mode, and region:

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

• Electrochromic
• Polymer Dispersed Liquid Crystal (PDLC)
• Suspended Particle Devices (SPD)
• Thermochromics
• Photochromic

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

• Architectural
  • Residential Buildings
  • Commercial Buildings
• Transportation
  • Automotive
  • Aircraft
  • Marine
• Consumer Electronics
• Power Generation

Smart Glass Control Mode Outlook (Revenue, USD Million, 2018 - 2030)

• Rheostats
• Switches
• Remote
• Others

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

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

List of Key Players of Smart Glass Market

• AGC Inc.
• ChromoGenics
• Corning Incorporated
• Gauzy Ltd.
• Gentex Corporation
• Guardian Industries Holdings, LLC
• Halio Inc.
• Merck KGaA (Merck Group)
• Nippon Sheet Glass Co. Ltd.
• PPG Industries Inc.
• RavenWindow
• Research Frontiers Inc.
• Saint Goblin S.A.
• Smartglass International
• VELUX Group
• View Inc.
• Polytronix Inc.
• Smart Glass Technologies LLC

About Grand View Research

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

Immune Health Supplements Market is Likely To Touch $52.81 Billion by 2030: Grand View Research Inc.

 

Immune Health Supplements Market Growth & Trends 

The global immune health supplements market size is estimated to reach at USD 52.81 billion in 2030 and is projected to grow at a CAGR of 10.72% from 2024 to 2030. The growing prevalence of various infectious diseases caused by several micro-organisms, such as bacteria, fungi, viruses, and parasites, coupled with the rising demand for supplements to increase the body's immune system, is expected to boost the immune health supplements adoption across the globe. Besides, increasing adoption of immunity-boosting products due to the COVID-19 pandemic is also anticipated to accelerate the market growth over the forecast years. According to the Council for Responsible Nutrition (CRN) report in 2020, the consumption of dietary supplements among Americans was about 73 percent. However, taking dietary supplements among individuals for immune health has been increased from 27 percent to 32 percent from 2019 to 2020.

As of 2020, the vitamin and mineral supplements segment held the largest revenue share. The increasing adoption of vitamin C, D, multivitamins, and minerals resulted in a high revenue share for the segment in the market. An unhealthy diet limited physical activity, and a sedentary lifestyle are the key factors responsible for increasing vitamin and mineral intake to improve an individual's immunity, especially in the developed regions such as North America and Europe. However, the increasing patient population and growing awareness for vitamin and mineral consumption are the major factors expected to boost market growth in emerging economies such as Asia Pacific and Latin America during the forecast period. However, the herbal supplements segment is also anticipated to be the second-largest product segment due to its popularity for long-term consumption as immunity boosters without any side effects.

By form, the tablets segment accounted for the largest revenue share in 2020. Due to its longer shelf life and high preference of adoption among the individual's tablets segment is expected to be the dominated segment. Tablets are more stable than the capsule, particularly in moist environments. In addition, tablets are largely manufactured by the key market players than the other form of supplements. Further, properties of tablets such as durability, inexpensive, can be split into two parts, and higher dosage accommodation is anticipated its high adoption and maximum value share in the market.

The respiratory tract infection segment held the largest revenue share in 2020. Due to the increasing prevalence of respiratory disorders such as COPD, asthma, COVID19, immune health supplements adoption has increased in the last couple of years. Particularly, the rapid rise in life-threatening coronavirus disease from the last year has increased the adoption of immunity-boosting products to manage respiratory tract infections. Taking supplements such as Vitamin C, D, and minerals such as zinc and probiotics offers unique properties to reduce the risk of respiratory tract infection, duration, and severity of infection.

As of 2020, the self-medication segment accounted for the largest revenue share than the prescription-based segment. It can be attributed due to the high percentage of self-medicated supplements using the population around the globe. Further, most of the vitamins and mineral supplements do not require a prescription. One can purchase them from pharmacies, groceries, and any convenience stores. Besides, the growing awareness among the individuals to use immunity-boosting products due to COVID19 is also expected to provide a high market share to the self-medication segment over the forecast years globally.

The pharmacies/drug stores segment dominated the market and accounted for the largest revenue in 2020. The availability of a wide variety of products and the high preference of consumers to buy immune health supplements from pharmacies are the factors responsible for the largest market share of this segment. Moreover, the availability of both prescriptions based and over-the-counter products for the consumers is also expected to accelerate the growth of the Pharmacies/drug stores segment over the forecast years.

North America dominated the market and accounted for the largest revenue share in 2020. The increasing prevalence of various health disorders, increasing usage of immune-enhancing products, and high spending capacity by the consumers are the factors anticipated to provide the majority of market share to the region. However, Asia Pacific countries, such as China, India, and Japan, are expected to witness significant growth over the forecast years due to the large population, increasing awareness, and growing consumer base in these countries.  

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Immune Health Supplements Market Report Highlights

• The market is expected to grow well over the forecast period owing to the increasing prevalence of several infectious diseases and growing awareness to improve immune health
• The vitamin and mineral supplements segment dominated the market in 2020 owing to high demand and increasing use for immune health
• The respiratory tract infection application segment dominated the market in 2020 owing to the increasing adoption of immune supplements to reduce the risk of respiratory tract infection across the globe
• The self-medication segment dominated the market in 2020 majorly due to a growing preference for self-medicated use of supplements than prescription-based
• The pharmacies/drug stores segment dominated the market in 2020 owing to the availability of a wide range of products and high consumer preference
• North America dominated the market in 2020 majorly due to high spending capacity and increasing uses of immune health supplements in the region

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Immune Health Supplements Market Segmentation

Grand View Research has segmented the global immune health supplements market report based on product, formulation, source type, mode of medication, distribution channel, and region

Immune Health Supplements Product Outlook (Revenue, USD Million, 2018 - 2030)

• Vitamin & Mineral Supplements
  • Vitamin C Supplements
  • Vitamin D Supplements
  • Vitamin B complex Supplements
  • Multivitamins
  • Selenium Supplements
  • Zinc Supplements
  • Others
• Amino Acids
• Omega-3 Fatty Acids
• Herbal Supplements
• Probiotic Supplements
• Others

Immune Health Supplements Formulation Outlook (Revenue, USD Million, 2018 - 2030)

• Capsules
• Tablets
• Powder
• Liquid
• Softgels
• Others

Immune Health Supplements Source Type Outlook (Revenue, USD Million, 2018 - 2030)

• Natural
• Synthetic

Immune Health Supplements Mode of Medication Outlook (Revenue, USD Million, 2018 - 2030)

• Prescription-based
• Self-medication

Immune Health Supplements Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Offline
  • Pharmacies & Drug Stores
  • Hypermarkets/Supermarkets
  • Others
• Online

Immune Health Supplements 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 Immune Health Supplements Market

• Nature's Way
• NOW Foods
• Garden of Life
• Thorne Research
• Nordic Naturals
• Solaray
• Pure Encapsulations
• MegaFood
• Jarrow Formulas
• Life Extension
• Metagenics
• Xymogen
• Designs for Health
• Douglas Laboratories
• Bayer AG
• Standard Process
• Klaire Labs
• Integrative Therapeutics
• The Nature's Bounty Co.
• Amway, Co.

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.

Radiology Information Systems Market Trends Regulations And Competitive Landscape Outlook to 2030

 Radiology Information Systems Market Growth & Trends

The global radiology information systems (RIS) market size is anticipated to reach USD 2.35 billion by 2030, registering a CAGR of 9.78% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing incidence of chronic diseases and the integration of advanced technologies in healthcare facilities have led to the increased usage of digital healthcare infrastructure. This infrastructure helps collect and manage information generated by hospitals, clinics, and institutes, thereby enhancing the efficiency and effectiveness of their services. Incorporating Artificial Intelligence (AI) into RIS presents significant growth opportunities for the market. This will lead to improved workflows, enhanced patient care, and ongoing support for radiologists. It also enables radiologists to provide a cohesive ecosystem experience to facilitate quicker, more precise, and consistent diagnoses.

For instance, in January 2024, Koninklijke Philips N.V. unveiled its AI-driven enterprise imaging portfolio, featuring next-generation Ultrasound, MRI, and CT systems, at the 76th Annual Conference of the Indian Radiological and Imaging Association (IRIA) 2024 in Vijayawada. In addition, it introduced its Compact Ultrasound System 5000 series and emphasized its MRI with BlueSeal magnet, designed to reduce helium usage and related complications. Moreover, government initiatives promoting the adoption of RIS are anticipated to drive market expansion. An increasing number of medical imaging tests for various diseases is also anticipated to drive market growth. As per the Diagnostic Imaging Dataset Annual Statistical published by NHS England, in November 2023, around 7.1 million CT scans and 4.1 million MRI scans were performed in the UK from 2021/22. Furthermore, the number of radiology labs and increasing installations of MRI and CT scans have created the demand for RIS in hospitals.

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Radiology Information Systems Market Report Highlights

• The web-based segment dominated the market in 2023 due to workflow enhancement features, such as scheduling, document imaging, automated insurance eligibility functions, and billing, offered by this deployment mode
• The integrated RIS segment dominated the market in 2023. It offers data analysis with the help of a Picture Archiving and Communication System (PACS) for developing IT service models
• The hospitals & clinics end use segment dominated the market in 2023. This is attributed to the increasing demand for streamlined workflows and improved patient care, as RIS enhances diagnostic accuracy, reduces costs, and integrates with EHR systems for efficient data management
• North America held the largest revenue share in 2023, which is attributed to the technological advancements and presence of major market players in the region
• In January 2023, Pro Medicus, Ltd. announced that its U.S. subsidiary, Visage Imaging, Inc., secured an 8-year, USD 12 million contract with Oregon-based Samaritan Health Services. This agreement led to the deployment of the Visage 7 Enterprise Imaging Platform across Samaritan’s network, ensuring a unified diagnostic imaging solution

Access Press Release@ https://www.grandviewresearch.com/press-release/global-radiology-information-system-ris-market

Radiology Information Systems Market Segmentation

Grand View Research has segmented the global radiology information systems market based on deployment mode, product, end use, and region:

Radiology Information Systems Deployment Mode Outlook (Revenue, USD Million, 2018 - 2030)

• Web-based
• Cloud-based
• On-premise

Radiology Information Systems Product Outlook (Revenue, USD Million, 2018 - 2030)

• Integrated RIS
• Standalone RIS

Radiology Information Systems End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Outpatient Department (OPD) Clinics
• Others

Radiology Information Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
  • The Netherlands
  • Switzerland
  • Belgium
  • Norway
  • Denmark
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Singapore
  • Philippines
  • Malaysia
  • Indonesia
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players of Radiology Information Systems Market

• DeepHealth
• Epic Systems Corporation
• General Electric Company
• IBM
• Koninklijke Philips N.V.
• Mckesson Corporation
• MedInformatix, Inc.
• Oracle
• Pro Medicus, Ltd.
• Siemens Healthineers AG
• Veradigm LLC

About Grand View Research

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