Global Packaging Automation Solution Market Expected to Reach US$ 155 Billion by 2033

Global Logistics, Global Trade Daily, Market insight

Global Packaging Automation Solution Market Expected to Reach US$ 155 Billion by 2033

March 21st, 2024 Fact.MR Leave a comment

The global packaging automation solutions market is poised to achieve a significant milestone, with projections indicating it will reach a value of US$ 155 billion by 2033. This growth is expected to occur at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2033.

Packaging, typically conducted towards the end of the production line, involves the organization and protection of products for storage and transit. Utilizing various technologies, this process aims to enhance efficiency and speed. Packaging automation refers to the method of packaging products without human intervention, ranging from simple machinery to comprehensive packaging lines. These automated systems can handle tasks such as packing, stacking, and unitizing products, thereby streamlining operations.

The increasing adoption of advanced packaging technologies across diverse industries is anticipated to drive the growth of the global packaging automation solutions market. This trend is fueled by the desire to reduce labor costs and enhance productivity. Furthermore, factors such as rising industrialization rates and increased manufacturing activities, driven by population growth, are contributing to the expansion of this market.

Rising concerns for worker safety within manufacturing, coupled with notable technological advancements like packaging robots, autonomous systems, and digital manufacturing, are anticipated to drive the global market forward. Additionally, intensified competition among industry participants, heightened demand for seamless supply chain integration, the expanding globalization of production, the imperative for cost-effective manufacturing practices, and escalating labor costs are all poised to further fuel the growth of the global packaging automation solutions market.

Here are the key insights from the market study:

The global packaging automation solution market was valued at US$ 75 billion in 2023.
By the end of 2033, it is expected to reach US$ 155 billion.
The demand for packaging automation solutions is estimated to grow at a CAGR of 7.5% from 2023 to 2033.
Asia Pacific accounted for 39% of the global market share in 2022.
The packaging robots segment is forecasted to grow at a CAGR of 6% throughout the projected period.

According to an analyst from Fact.MR, the main drivers of the global packaging automation solutions market include increasing adoption of automation in manufacturing, rapid industrialization, expanding manufacturing activities due to population growth, and the imperative to reduce labor requirements.

Regional Analysis:

During the study period, Asia Pacific is poised to dominate the global packaging automation solution market. This dominance is driven by the region’s expanding industrialization and rising living standards, which have led consumers to prefer higher-quality goods and services. Additionally, the growing e-commerce industry in the region has heightened the demand for automated solutions to facilitate efficient inventory management.

Competitive Landscape:

Key players in the packaging automation solution market are employing various marketing tactics such as investments, alliances, acquisitions, R&D activities, and technological advancements to expand and sustain their global presence. Additionally, several startups are introducing technologically advanced products to capture market share.

One such example is NEXA System Engineering, a Polish startup specializing in robotic packing stations and labeling and marking systems. Their packaging machines utilize SCARA, Delta, and 6-axis robots, offering production flexibility.

ULMA Packaging showcased the TSA 400, a compact tray sealer, at IFFA 2022. This versatile machine is suitable for MAP, SKIN, LEAFMAPTM, and LEAFSKINTM applications, boasting a small footprint and high-speed output, making it ideal for space-constrained layouts.

MULTIVAC introduced the W 500 as a universal flow packing solution in April 2022. This highly versatile product can pack a wide range of food items and can function as a stand-alone solution or as part of an automated line, catering to diverse needs in the market.

In March 2022, ULMA Packaging announced the integration of BETTER-SEAL technology into their machines. This innovative technique enhances sealing in mono-material solutions, reflecting the company’s commitment to innovation and environmental sustainability.

Key Companies Profiled:

Automated Packaging Systems, Inc
ABB Ltd
Kollmorgen Corporation
Beumer Group GmbH & Co. KG
Rockwell Automation, Inc
Emerson Electric Company

More Valuable Insights on Offer:

Fact.MR introduces an impartial analysis of the global packaging automation solution market, offering comprehensive insights based on historical demand data spanning from 2018 to 2022 and forecast statistics covering the period from 2023 to 2033.

The study delves into crucial aspects of the market, categorizing insights by product type, including packaging robots, automated packagers, and automated conveyors & sorting systems. Additionally, it examines various end-use sectors such as food & beverages, logistics & warehousing, retail, healthcare & pharmaceuticals, semiconductors & electronics, and other industries.

These insights are further segmented across five major regions: North America, Europe, Asia Pacific, Latin America, and MEA, providing a thorough understanding of the market dynamics and trends on a global scale.

Global Logistics, Global Trade Daily, Uncategorized

Packaging Robots is Set to Grow US$ 7.5 Billion by 2032 at a CAGR of 8%

March 8th, 2024 Fact.MR Leave a comment

According to data from Fact.MR, the global packaging robots market is on a significant growth trajectory, expected to surge from US$3.8 billion in 2022 to US$7.5 billion by 2032. This growth is projected to maintain a robust compound annual growth rate (CAGR) of 7% over the period spanning from 2022 to 2032.

Packaging robots, characterized by their adaptability, are engineered to efficiently handle labor-intensive tasks with speed and cost-effectiveness. Featuring integrated controls, user-friendly interfaces, and advanced software and sensors, these robots are designed for easy operation. Their key advantages lie in their flexibility, precision, and reliability. Tasks such as picking and placing, boxing, palletizing, and warehousing are within their versatile capabilities.

Many companies opt for packaging robots due to their ability to enhance supply chain efficiency, improve packaging effectiveness, and reduce operational costs. These robots utilize appropriate end-of-arm tooling to complete various packing operations. They are available in different sizes, payloads, reaches, and mounting configurations, making integration into different workspaces straightforward.

Key Takeaways from Market Study

· The global packaging robots market is slated to reach US$ 7.5 billion by 2032.

· Sales of clamp grippers are expected to increase at a CAGR of 6% from 2022 to 2032

· Market in Germany is estimated to develop at a CAGR of 4% through 2032.

· Market in Japan is anticipated to evolve at a CAGR of 3.5% over the forecast period (2022-2032).

Vacuum grippers utilize suction force generated by a vacuum to perform various tasks, such as installation, packaging, and material handling. In the food and beverage sector, manufacturers are increasingly transitioning from traditional assembly line methods to fully automated assembly lines to produce both standard and customized packaging.

This shift towards automation highlights the adoption of packaging robots equipped with vision capabilities, which are particularly preferred for assembly line operations. Employing packaging robots in these processes ensures superior quality, responsiveness, reliability, and precision for both primary and secondary applications.

Market Segmentations:

· By Gripper Type: Claw, Clamp, Vacuum, Others

· By Packaging Type: Primary Packaging, Secondary Packaging, Tertiary Packaging

· By Application: Food & Beverages, Pharmaceuticals, Consumer Products, Logistics, Others

· By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Competitive Landscape

Top companies in the packaging robots market plan to conduct research and development initiatives to create unique robotic packaging systems to meet the increased demand from factories throughout the world. Key companies are anticipated to release advanced products to provide a reliable pick-and-place operation at work as smart factories continue to evolve and industrial automation is used.

In 2020, one of the biggest manufacturers of robots, Fanuc Corporation, introduced the R-2000id robot with cable-integrated technology. This robot has advanced features including picking and positioning and auto checking in addition to packaging.

Winning Strategy

Key market players are concentrating on growing their customer base internationally. Top suppliers are providing advanced robotic machines that may be used for simultaneous picking, palletising, and packing tasks.

In 2020, Bosch Packaging Technology’s German-based packaging machinery division was acquired by Syntegon Technology.

More Valuable Insights on Offer

Fact.MR presents an analysis of the global packaging robots market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of gripper type (claw, clamp, vacuum, others), packaging type (primary packaging, secondary packaging, tertiary packaging), and application (food & beverages, pharmaceuticals, consumer products, logistics, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Global Trade Daily, Market insight

Smart E-Drive Market Set to Soar to US$12 Billion by 2033

March 4th, 2024 Fact.MR Leave a comment

The global smart e-drive market is anticipated to reach US$ 12 billion by 2033, growing rapidly at a 29.5% CAGR from 2023 to 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.

Smart e-drive technology represents an advanced iteration of electric drive systems, engineered to enhance driving experiences by providing smoother and safer performance. Utilizing various types of batteries such as lead-based, lithium-ion, or solid-state batteries, the smart e-drive system facilitates direct energy transmission to the vehicle. This direct transmission mechanism significantly improves energy efficiency, leading to enhanced overall performance.

Given their enhanced efficiency, smart e-drives align with the evolving preferences of environmentally conscious consumers, who are increasingly making informed choices about eco-friendly purchases. This shift in consumer behavior is expected to drive the demand for smart e-drives throughout the forecast period. Additionally, the surge in fossil fuel prices and the implementation of regulations favoring smart electric vehicles by governments are anticipated to further boost demand.

Especially suited for urban commuting, smart e-drives seamlessly combine emission-free driving with the convenience offered by the intelligent features of the latest fourth-generation vehicles. Ongoing technological advancements are leading to the development of improved components and assembly processes, culminating in the emergence of the fourth-generation smart e-drive.

The latest iteration of smart e-drive incorporates power-efficient components, enabling it to cover approximately 160 kilometers on a single charge, making it a viable solution for urban mobility. The advancements in compatibility have also facilitated features like quick charging.

Competing players in the market have introduced a wide range of capabilities in smart e-drives to capture market share. These include features such as ECO mode for energy-efficient driving and smart control, allowing users to connect to a preferred device for remote control of functions like intelligent charging. Leading companies are continuously introducing new models, designs, enhanced comfort, and appealing aesthetics, providing consumers with a diverse array of options to choose from.

Key Insights from Market Analysis

The 2023 valuation of the global smart e-drive market is estimated at US$ 900 million.
Anticipated global demand for smart e-drive vehicles is projected to experience a substantial compound annual growth rate (CAGR) of 29.5% throughout the forecast period (2023 to 2033).
The global market is forecasted to achieve a significant milestone, reaching US$ 12 billion by the year 2033.
In 2022, the United States market for smart e-drive vehicles was valued at US$ 300 million.
The front wheel drive segment currently holds a dominant position in the global market.

Key Companies Profiled

Robert Bosch GmbH
BorgWarner, Inc
Schaeffler AG
Siemens A
Aisin Seiki Co., Ltd
Continental AG
Hyundai Mobis Co., Ltd

Competitive Landscape

In the competitive landscape of the global market, only a handful of established players currently dominate, creating significant barriers for start-ups due to the industry’s entrenched dynamics and high research and development (R&D) costs. To bolster their global footprint, key players in the smart e-drive market are actively engaged in strategic initiatives such as collaborations, investments, new developments, and ongoing R&D activities.

Volkswagen, for instance, introduced two noteworthy models in April 2021, namely the seven-seater ID.6 X and EV ID.6 Crozz. These vehicles, produced in collaboration with FAW and SAIC in China, offer four powertrain configurations and come with two battery size options: 58 kWh and 77 kWh.

Toyota, another major player, unveiled new LS and Mirai models in Japan in April 2021, both featuring advanced driving assistance technologies, showcasing the company’s commitment to innovation in the smart e-drive space.

BYD, on the other hand, made a significant move by releasing four new Smart Electric Drive models equipped with Blade batteries in Chongqing in April 2021. The models, namely Qin Plus EV, Tang EV, E2 2021, and Song Plus EV, boast improved battery safety measures, reflecting BYD’s dedication to technological advancements in electric vehicles.

More Valuable Insights on Offer

In its latest offering, Fact.MR provides an impartial analysis of the global smart e-drive market, offering valuable insights through a comprehensive examination of historical demand data spanning from 2018 to 2022, along with forecast statistics for the period between 2023 and 2033.

The study unveils crucial information about the market, categorizing it based on drive types (front wheel drive, rear wheel drive, all-wheel drive), components (batteries, electric motors, inverter units, e-brake boosters, power electronics), and applications (e-axle, e-wheel drive). These insights are analyzed across five key regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Air cargo, Global Logistics, Global Trade Daily

GEODIS Executes Complex Air Cargo Transport Operation in Colombia Using Antonov AN-124 Aircraft

February 29th, 2024 Fact.MR Leave a comment

GEODIS, a prominent global logistics provider, has successfully completed a challenging air cargo transport operation in Colombia utilizing the Antonov AN-124, the largest cargo aircraft in the world. The project involved transporting oversized thermocompressors over 13 flights spanning seven days, delivering urgently needed freight for a key client in the southeast region of Colombia.

Initially planned for road transport via the La Orquídea Bridge in Boyacá, the collapse of the bridge in August 2023 necessitated a rapid shift in strategy by GEODIS. The company swiftly devised an alternative solution to transport the oversized cargo via air, ensuring the project’s completion within the required timeframe.

This monumental undertaking required meticulous planning and coordination between GEODIS and Antonov, considering the unique dimensions and weight characteristics of the cargo. Despite challenges posed by the limited availability of the Antonov AN-124 amidst the Russia-Ukraine conflict, GEODIS successfully secured the necessary aircraft to execute the operation.

Carlos Palacios, Manager Director of GEODIS in Colombia, emphasized the collaborative effort involved in overcoming the complexities of the project. Through coordination with Antonov, the Colombian Air Force, and various airports, including Barranquilla and Apiay, GEODIS ensured the successful transportation of essential materials across the country.

The operation involved careful evaluation of technical conditions at selected airports to accommodate the Antonov AN-124. Cargo preparation in Cartagena, transportation to Barranquilla by land, and subsequent airlifting by the Antonov AN-124 were seamlessly coordinated to ensure smooth execution.

To optimize payload and accommodate the maximum payload accepted by the Antonov AN-124, adjustments were made to flight plans and cargo load. GEODIS and Antonov collaborated closely to facilitate the safe transportation of the oversized cargo across 12 domestic flights, implementing various measures such as removing crates, adjusting lashing points, and modifying aircraft configurations.

Palacios highlighted the project as a significant achievement for the GEODIS team in Colombia, underscoring the importance of flexibility and expertise in overcoming challenges and delivering exceptional air cargo solutions for clients.

Global Trade Daily, Market insight

4D Printing Market is Projected to Reach $2.5 Billion by 2033

February 20th, 2024 Fact.MR Leave a comment

The global 4D printing market is projected to reach a valuation of US$ 2.5 billion by the conclusion of 2033, experiencing a robust Compound Annual Growth Rate (CAGR) of 35.4% from 2023 to 2033.

4D printing, alternatively known as 4-dimensional printing, is an innovative technique that amalgamates material science, advanced software, and engineering with 3-dimensional (3D) printing methods. This technology introduces the fourth dimension of time, enabling 3D-printed objects to undergo shape alterations. Various external stimuli, including water, heat, electricity, light, chemical compounds, magnetic fields, and environmental conditions, can trigger changes in the shapes of these printed objects.

The rapid adoption of 4D printing in recent years can be attributed to its notable advantages in terms of quality, efficiency, and performance when compared to traditional manufacturing methods. However, it’s important to note that 4D printing technology is still in its nascent stage, with numerous key players actively engaged in research and development to explore its potential applications across diverse industries.

The market is experiencing growth driven by a heightened demand for innovation across various 3D printing applications. The ability of 4D-printed items to self-transform allows for optimal utilization of limited resources, leading to reduced production, transportation, and handling costs, along with saving time and effort.

This surge in demand for 4D printing technologies is primarily fueled by the imperative to decrease overall operating expenses and enhance business efficiency, coupled with a growing emphasis on environmental sustainability. Technological advancements, including the development of custom textile composites, printed wood grain, carbon fiber, and other novel materials with improved sensing capabilities, programmable actuation, and self-transformation, contribute significantly to the expansion of the market.

Moreover, the increasing adoption of 4D printing technology across diverse sectors is a key driver of market growth. In the healthcare industry, for instance, surgeons are utilizing self-transforming 4D printed components for implantation within the patient’s body, reducing the procedural requirements in surgery. Additionally, a heightened focus on product innovation, substantial investments in research and development projects, and the advent of Industry 5.0 are further propelling the growth of the market.

4D Printing Market Trends:

4D printing is an innovative technology that allows printed objects to reshape or self-assemble over time in response to environmental stimuli like heat or moisture. It has the potential to revolutionize manufacturing across industries from medical devices to construction. Key trends include developing 4D printable smart materials that can morph in complex ways, using computer modeling and AI to design the temporal component more precisely, and exploring ways to scale up 4D printing for mass production. Companies and research institutes around the world are actively developing novel 4D printing techniques and exploring new applications across sectors. With its ability to print dynamic structures, 4D printing promises to enable breakthrough products not feasible previously.

Key Highlights from Market Analysis:

The global 4D printing market is assessed at US$ 120 million in 2023.
Projections indicate that the market is set to expand to a substantial US$ 2.5 billion by 2033.
There is an anticipated surge in worldwide demand for 4D printing technologies at a noteworthy Compound Annual Growth Rate (CAGR) of 35.4% throughout the forecast period from 2023 to 2033.
The expected growth in demand for programmable carbon fibers is pegged at a Compound Annual Growth Rate (CAGR) of 20%.
In 2022, the United States market for 4D printing recorded a value of US$ 40 million.

A Fact.MR analyst notes that the market expansion is being further propelled by numerous advantages associated with 4D printing, including cost-effectiveness, ease of access, and enhanced efficiency.

Key Companies Profiled

3D Systems Corporation
Massachusetts Institute of Technology
Autodesk Inc
Hewlett Packard Corp
Dassault Systemes SA
Exone Co

Competitive Landscape

The global market exhibits high fragmentation, with a predominant share of market revenue held by a few large- and medium-sized companies. Key players in the 4D printing market are actively engaging in strategic partnerships, pursuing new developments, and undertaking mergers and acquisitions to cater to the growing global demand for 4D printing solutions.

In addition, the market is witnessing the emergence of several start-ups:

In March 2022, Organovo Holdings, Inc. and BICO entered into an agreement, wherein BICO and its affiliated entities were granted an extensive license to Organovo’s primary patent portfolio for 3D bioprinting.
3D Systems announced in May 2022 that it had been selected by Airbus Defense and Space to manufacture crucial components for its groundbreaking satellite innovation, OneSat.

Global Trade Daily

Global Drone Construction Monitoring Market: Projected to Reach US$ 1,149.0 Million by 2033 with a CAGR of 13.6%

February 6th, 2024 Fact.MR Leave a comment

The global drone construction monitoring market is expected to reach valuation of US$ 318.2 million in 2023 and further progress at a CAGR of 13.6% to reach US$ 1,149.0 million by the end of 2033.

The construction industry is undergoing a transformation with the integration of advanced technologies, and one such innovation making waves is the use of drones for construction monitoring. Drones, or unmanned aerial vehicles (UAVs), have rapidly gained popularity in the construction sector due to their ability to provide real-time data, improve project efficiency, and enhance overall safety. The drone construction monitoring market is witnessing substantial growth as construction companies recognize the numerous benefits these aerial devices bring to the table.

Key players-

3d Robotics Inc.
Aerialtronics
AeroVironment Inc.
Delair
DJI
Dronedeploy Inc.
Kespry Inc.
Parrot Drone SAS
Precisionhawk Inc.
Skydio Inc.
SZ DJI Technology Co. Ltd. (iFlight Technology Company Limited)
Teledyne Flir LLC (Teledyne Technologies)
Trimble Inc.
Yuneec International Co. Ltd.

Market Dynamics:

The drone construction monitoring market has experienced a surge in demand driven by factors such as increased construction activities, the need for efficient project management, and the growing awareness of the advantages offered by drone technology. Drones equipped with high-resolution cameras, LiDAR sensors, and other advanced technologies enable construction professionals to monitor and survey sites with unprecedented precision.

Key Market Trends:

Real-time Data and Monitoring: Drones are equipped with advanced imaging technology, allowing real-time data capture and monitoring of construction sites. This capability facilitates project managers in making informed decisions, reducing the likelihood of errors, and improving overall project efficiency. Real-time data also enables quick response to potential issues, leading to cost savings and timely project completion.
Improved Safety Measures: Safety is a paramount concern in the construction industry. Drones play a crucial role in enhancing safety by providing a bird’s-eye view of the construction site. They can monitor and identify potential hazards, ensuring that safety protocols are adhered to. Drones also minimize the need for workers to physically access high-risk areas, reducing the risk of accidents and injuries.
Integration with Building Information Modeling (BIM): The integration of drones with Building Information Modeling has become a prevailing trend. This integration allows construction professionals to overlay drone-captured data onto the BIM model, providing a comprehensive view of the project. This synergy enhances collaboration, improves communication among stakeholders, and contributes to better project outcomes.
Environmental Monitoring: Drones equipped with environmental sensors are increasingly being used to monitor the impact of construction activities on the environment. This includes assessing air quality, noise levels, and other environmental factors. Construction companies are leveraging this data to ensure compliance with environmental regulations and minimize their ecological footprint.

Market Challenges:

While the drone construction monitoring market is experiencing substantial growth, it is not without its challenges. Some of the key challenges include:

Regulatory Hurdles: The regulatory landscape for drone usage is continually evolving. Construction companies must navigate through various regulations and obtain necessary approvals for drone operations. Striking a balance between innovation and compliance remains a challenge.
Data Security and Privacy Concerns: With the increasing use of drones for data collection, concerns about data security and privacy have become prominent. Construction companies must implement robust cybersecurity measures to protect sensitive project information and address potential privacy issues related to drone surveillance.
Skill Gap: Effectively utilizing drone technology requires skilled operators and data analysts. The industry is facing a shortage of professionals with expertise in drone operations and data interpretation, hindering the full realization of the technology’s potential.

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Global Trade Daily, Market insight

Robotic Drilling Market Expected to Reach US$ 985 Billion by 2033, Says Fact.MR Study

January 29th, 2024 Fact.MR Leave a comment

The global robotic drilling market is valued at US$ 485 billion in 2023 and is projected to increase at a CAGR of 8% to reach US$ 985 billion by 2033-end, according to this latest market study by skilled analysts at Fact.MR.

Automated drilling, known as robotic drilling, is a widely adopted method in the global oil and gas industries. These automated systems provide efficient solutions that can seamlessly integrate into both new and existing onshore and offshore installations. They introduce an unmanned, robotic-based drill-floor solution known for its swift, precise, and reliable operations.

The utilization of robotic drilling is on the rise in oil and gas exploration, with the market expected to grow positively due to increased industrialization and the exploitation of unconventional hydrocarbon resources. The expansion of power generation, especially in emerging economies, is predicted to contribute to market growth. Additionally, advancements in robotic technology serve as an indirect factor further enhancing the growth trajectory of the robotic drilling market.

Key Takeaways from Market Study

The global market for robotic drilling is valued at US$ 485 billion in 2023.
Worldwide demand for robotic drilling is predicted to increase at a high-value CAGR of 8% through 2033.
By the end of 2033, the global market is projected to reach US$ 985 billion.
The oil & gas segment expected to rise at a CAGR of 8.5% through 2033.
The market in North America is forecasted to increase at a CAGR of 8% through 2033.
The new builds category is forecasted to advance at a CAGR of 9% from 2023 to 2033.

“Demand for robotic drilling is primarily driven by increased emphasis on the exploration of new oil and gas extraction sites, particularly in developing economies, expanding use of robotic drilling for a variety of end-user industries, including oil and gas, and acceleration of industrialization, particularly in developing countries,” says a Fact.MR analyst.

Key Companies Profiled in This Report

Drillmec Inc.
Automated Rig Technologies Ltd.
Epiroc AB
KCA Deutag Alpha Limited
National Oilwell Varco Inc.
Huisman Equipment BV
Sekal As
Rigarm Inc.

Market Competition

A competitive edge lies in the ability to customize robotic drilling systems according to specific customer needs. Companies that provide flexible and adaptable solutions not only meet customer requirements but also capture a larger market share. A crucial aspect of competitiveness is the investment in research and development. Companies continuously enhance their robotic drilling technology, focusing on improving automation and creating intelligent drilling systems.

In October 2021, Nabors Industries Ltd. unveiled the PACE-R801 drilling rig, a groundbreaking fully automated land drilling rig utilizing Canrig robots. This innovative rig successfully reached total depth in its inaugural well in the Permian Basin. It features an autonomous rig floor, enhancing safety and ensuring reliable drilling performance by eliminating employee exposure to hazardous zones

.More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global robotic drilling market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on application (onshore, offshore), installation (retrofit, new builds), component (hardware, software), and end use (oil & gas, construction, mining), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Explore More Related Studies Published by Fact.MR Research:

Construction Robot Market–construction robot market, as detailed in the Fact.MR report, generated sales amounting to US$ 173 billion in 2022. During the assessment period (2023 to 2033), sales of autonomous construction equipment are predicted to rise at a CAGR of 16.6%, culminating in a market size of US$ 936 billion by the end of 2033

Pharmaceutical Robot Market–pharmaceutical robot market size was valued at US$ 211 Million in 2022. Over the assessment period (2023 to 2033), the market is forecasted to advance at a CAGR of 6.7% and reach a valuation of US$ 431 Million by 2033

Robot Kit Market– robot kits market is set to surpass a valuation of US$ 964.1 million in 2023 and further expand at a CAGR of 10.2% to reach US$ 2,546.5 million by the end of 2033

Global Trade Daily, Uncategorized

Global Palm Oil Market is anticipated to Hold a Value Worth US$ 51 Billion in 2032

January 19th, 2024 Fact.MR Leave a comment

Fact.MR recently conducted a comprehensive research analysis on the global palm oil market, providing an in-depth overview of product categories, end-users, and regions within the industry. The study also delves into the strategies employed by key players to gain a competitive advantage.

The global palm oil market is anticipated to secure US$ 34.33 Billion in 2022. During the forecast period of 2022-2032, the market for palm oil is expected to display a CAGR of 4.04% while securing US$ 51 Billion. This growth is attributed to the expansion of the food processing sector and the increasing population in developing markets. The surge in demand for packaged food, bakery products, and convenience food is expected to be a driving force for palm oil demand during the forecast period.

The global popularity of cakes, snacks, and pastries, driven by their delectable flavors, has led to an increased application of palm oil in the production of these packaged foods.

Initiatives to broaden the application of palm oil are expected to further benefit the industry. For example, in August 2021, DiBiz, a Malaysian tech firm, launched the Trustparent Marketplace, the world’s first online marketplace for sustainable palm oil. This platform aims to boost the sales of environmentally compliant products by connecting buyers and sellers across the palm oil supply chain.

Noteworthy contributions to market growth are anticipated from developing countries such as India, China, and Japan. In August 2021, the Indian Prime Minister, Shri Narendra Modi, approved the launch of the National Mission on Edible Oils – Oil Palm (NMEO-OP), focusing on the Northeast region and the Andaman and Nicobar Islands. This centrally sponsored scheme aims to benefit oil palm farmers, drive capital investment, and create employment opportunities.

Despite these positive trends, challenges such as high price volatility and the presence of substitutes may impede the growth of the palm oil market. Additionally, environmental concerns, particularly related to deforestation, are identified as salient factors likely to hinder market growth during the assessment period.

Key Takeaways from the Market Study:

· The global palm oil market is expected to have secured US$ 33 Billion in 2021.

· The palm oil market in the Asia Pacific is anticipated to display a CAGR of 7% during the forecast period.

· The palm oil market in North America is expected to have secured US$ 12 Billion, claiming 27% market share

· By end user, the foodservice segment is poised to accrue over 3/5^th of total market revenue in 2022

· Global palm oil market is anticipated to experience 1.5x growth from 2022 to 2032

“Expanding food and beverage sector along with rising favorable initiatives taken by various government across the globe is expected to favor the palm oil market growth during the forecast period.”

Recent Development in the Market:

· In May 2022, Ruchi Soya announced the acquisition of Patanjali’s food retail business. The initiative aims to acquire Patanjali’s food retail business undertaking which comprises packaging, manufacturing, labeling, and retail trading of certain food products along with manufacturing plants located in various parts of India.

· In January 2021, Cargill Inc announced the acquisition of ProPortion Foods. With the initiative, Cargill gained two further-processed protein plants in Round Rock, Texas, and Vernon, California. The Round Rock and Vernon facilities will deliver a variety of quality, fully cooked protein products for Cargill’s retail and food service channel customers.

Palm Oil Providers

· American Vegetable Oils

· Cargill Foods Inc.

· Grief Inc.

· Fuji Oil Holdings

· Bunge Limited.

· Associated British Foods

· Ruchi Soya Industries

Key Segments Covered in the Palm Oil Market Study

· By Product Type:

o Processed Palm Oil

o Virgin Palm Oil

· By End User:

o Foodservices

o Food Processors

o Retail

· By Distribution Channel:

o Modern Trade Channels

o Franchise Outlets

o Specialty Stores

o Online Channels

· By Region:

o North America

o Latin America

o Europe

o Japan

o APEJ

o Middle East & Africa

What differences can the palm oi report make on the revenue impacts and strategies of businesses?

Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the palm oi and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:

· Attractiveness quotient of emerging product/technology types in various products in the palm oi

· Micro-economics factors that may hamper the prospects of some of the key segments

· Recent spate of research and development (R&D) funding on key palm ois

· New business models paving way for disruptions in demand dynamic of key segments

· Regional markets that will be future engine of growth and the industry trends that will support these markets

· Challenges overcoming which may offer industry players competitive edge

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global Food and Beverage Market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of product type (processed and virgin), end user (foodservices, food processors, and retail), and distribution channel (modern trade channels, franchise outlets, specialty stores, and online channels) across six major regions (North America, Latin America, Europe APEJ, Japan and Middle East & Africa).

Global Trade Daily

Demand for Smartphones is projected to reach a Market Value of US$ 1,615.6 Billion by 2034

January 14th, 2024 Fact.MR Leave a comment

According to the latest industry analysis conducted by Fact.MR, a leading provider of market research and competitive intelligence, the Worldwide Smartphone Market is anticipated to reach US$ 802.1 billion in 2024, with a projected compound annual growth rate (CAGR) of 7.30% expected to persist until 2034. The market is poised to achieve a valuation surpassing US$ 1,615.6 billion by the year 2034.

Currently, more than half of the global population possesses a smartphone, and this figure is anticipated to witness further growth in the forthcoming years. Smartphones are no longer viewed solely as communication devices; instead, they are increasingly perceived as symbols of prestige and sophistication. This shift in perception has led to an exponential expansion of the market on a global scale.

Key Segments of Smartphone Industry Research Report

By Operating System:

· Android Smartphones

· iOS Smartphones

· Others

By Price Range:

· Low-range Smartphones (Below $200)

· Mid-range Smartphones ($200-$500)

· Premium Smartphones (Above $500)

By Sales Channel:

· Online/e-Commerce

· Physical Retail Stores (Offline)

By Region:

· North America

· Latin America

· Europe

· Asia Pacific

· Middle East & Africa (MEA)

In contemporary society, smartphones have evolved into indispensable components of individuals’ lives. Their popularity among the general population has surged in recent years, driven by their multifunctional capabilities, seamless connectivity, and incorporation of advanced technologies. The increasing penetration of mobile internet in underdeveloped regions has significantly contributed to this rising demand.

The continuous advancements in the electronics industry and the introduction of novel functionalities in smartphones further propel the market’s expansion. To stay competitive in this dynamic landscape, companies must consistently introduce new features, enhance processing speeds, and improve screen resolutions. Additionally, the burgeoning gaming culture in countries such as India, Japan, China, and others is not only boosting smartphone demand in these regions but also influencing the global market.

“Innovation and differentiation are some of the most crucial aspects in the evolving smartphone market. Companies must invest in continuous innovation and develop new functionalities, design aesthetics, and user experiences to stay competitive in the market,” says a Fact.MR analyst.

Key Takeaways from the Market Study

· The global smartphone market is projected to expand at a CAGR of 7.30% over the forecast period.

· The North American smartphone market is expected to grow at a CAGR of 7.50% from 2024 to 2034.

· The United States holds a dominant share of 69.1% of the smartphone market in the North American region.

· China dominates the smartphone market in the East Asian region with a market valuation of US$ 156.4 million in 2024.

· The smartphone industry in the United States is expected to rise at a CAGR of 7.60% from 2024 to 2034.

· Based on the sales channel, the online/eCommerce segment is expected to hold a 63.10% market share in 2024.

· The segment of iOS smartphones dominates the market with a 31.40% share in 2024, based on operating systems.

Competitive Landscape

The global smartphone market is characterized by the presence of international brands, such as Apple, Xiaomi, Samsung, Oppo, Vivo, Nokia, etc. These companies have pioneered the smartphone technology. Over the period, they have also gained the trust of consumers all over the world. These companies invest billions of dollars in the research and development of new technologies that enhance user experience. There is a presence of smaller companies, too, in the smartphone market. These companies cater to the demands of regional consumers by curating affordable phones with premium features.

Diverse Sales Channels and Dominance of Android in Smartphone Market

In terms of sales channels, the online sales segment is poised to command an estimated 63.10% market share in 2024, while physical retail stores are anticipated to maintain a substantial 36.9% share, contributing to the market’s overall diversity and stability. In the realm of operating systems, the Android segment is set to dominate the smartphone industry, securing a significant 25.70% market share in 2024.

The eCommerce sector has experienced remarkable growth in recent years, extending its influence not only in developed nations but also in developing and underdeveloped countries. This surge has notably impacted the smartphone market, with consumers increasingly favoring online platforms to explore a vast array of options and make smartphone purchases tailored to their preferences. The attractiveness of these platforms is further enhanced by the regular introduction of enticing offers and discounts.

Key to the growing preference for online platforms is the convenience they provide, emerging as a primary factor in consumers’ decision-making process compared to traditional retail shops. Online platforms offer the added advantage of accessing comprehensive reviews and ratings, facilitating informed decision-making for potential buyers. The ease of purchasing smartphones with just a few clicks and having them delivered directly to their doorsteps further contributes to the growing trend of consumers opting for online channels.

Global Trade Daily

Smart Grid Sensor Market is projected to reach a valuation of US$ 2.39 billion by 2033

January 3rd, 2024 Fact.MR Leave a comment

According to a recently released report from Fact.MR, a leading provider of market research and competitive intelligence, the global Smart Grid Sensor Market has achieved a scale of US$ 587.3 million in 2023 and is anticipated to witness substantial growth at a noteworthy CAGR of 15.1% throughout the forecast period (2023 to 2033).

Smart grid sensors play a pivotal role in reshaping the energy landscape towards a sustainable future. They are integral in the modernization of electrical grids and addressing the challenges posed by a dynamic energy environment. These innovative sensors deliver real-time data crucial for optimizing energy distribution, integrating renewable energy sources, and improving grid reliability.

As the world increasingly focuses on sustainability and environmental stewardship, smart grid sensors are propelling the shift towards a cleaner and more efficient electrical grid. They contribute to the reduction of carbon emissions, supporting a resilient energy future. Smart grid sensors actively monitor and control grid operations, enable demand response, and facilitate the integration of electric vehicles. Thus, they emerge as indispensable components in establishing a sustainable, reliable, and environmentally responsible energy infrastructure for the years ahead.

Key Takeaways from Market Study

· The global smart grid sensor market is projected to expand at 15.1% CAGR and reach US$ 1.87 billion by 2033-end.

· The market was valued at US$ 520.4 million in 2022, after expanding at a CAGR of 11.3% from 2018 to 2022.

· Sales of voltage/temperature smart grid sensors are projected to increase at a CAGR of 17.3% through 2033.

· The United States market for smart grid sensors is predicted to expand at a CAGR of 17% during the forecast period (2023 to 2033).

Market Growth Developments

Market players are adopting various strategies to strengthen their position and capitalize on emerging opportunities. Some of these strategies include identifying the target, advancing the technology, expanding their innovation, and increasing environmental sustainability, production, procurement, and supply chain. Establishing strategic partnerships with other industry stakeholders to access new markets and distribution channels.

Companies are also investing in marketing and branding efforts to raise awareness about the benefits of their products and differentiate themselves from competitors. By pursuing these growth strategies, market players aim to foster sustainable growth, gain a competitive edge, and meet market demands.

In 2023, the United States market is valued at US$ 128.5 million and is anticipated to grow at a compound annual growth rate (CAGR) of 15.9% from 2023 to 2033.

Smart grid sensors offer a multitude of advantages in the pursuit of carbon-neutral electricity in the United States. They facilitate the integration of renewable energy sources by monitoring their output and ensuring efficient distribution. These sensors provide real-time data on grid performance and electricity consumption, empowering decision-makers to make informed choices and reduce energy wastage.

Smart grid sensors also play a pivotal role in supporting demand-response programs, incentivizing the use of cleaner energy sources, and bolstering grid resilience. Therefore, investments in smart grid sensors, alongside other clean energy technologies and policies, are imperative for the United States to attain its goal of achieving carbon pollution-free electricity.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the smart grid sensor market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study reveals essential insights based on sensor (voltage/temperature smart grid sensors, outage detection smart grid sensors, transformer monitoring smart grid sensors, dynamic line rating smart grid sensors, others), application (smart energy meters, SCADA, advanced metering infrastructure [AMI], others), and end user (public grid operators, private grid operators), across major regions of the world (North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa).

Global Packaging Automation Solution Market Expected to Reach US$ 155 Billion by 2033

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