Demand for Food Robotics Solutions is projected to reach a market value of US$ 7.8 billion by 2033

December 25th, 2023 Fact.MR Leave a comment

According to a recently published research report by Fact.MR, a leading provider of market research and competitive intelligence, the Global Food Robotics Market is anticipated to reach a valuation of US$ 2.47 billion in 2023. The research further forecasts a Compound Annual Growth Rate (CAGR) of 12% for the demand of food robotics worldwide between the years 2023 and 2033.

The realm of food robotics encompasses the utilization of robots and automated solutions to enhance various facets of food production, processing, packaging, and distribution. This approach yields several advantages, including heightened efficiency, diminished labor costs, enhanced food safety measures, and the ability to satisfy the escalating consumer demands for consistently high-quality food products.

Key Segments of Food Robotics Industry Research Report

Food robotic systems find diverse applications in food manufacturing, processing, quality control, and the realm of robotic food delivery. The increasing demand for these systems is attributed to challenges like labor shortages and the imperative to adopt more sustainable food production practices while rigorously adhering to stringent food safety requirements.

Key Takeaways from Market Study

· The global market for food robotics is estimated at a valuation of $2.47 billion in 2023.

· Food robotics sales are expected to rise at 12% CAGR between 2023 and 2033.

· The global market is projected to reach US$ 7.8 billion by the end of 2033.

· Asia Pacific and Europe together accounted for 58% share of worldwide revenue from low payload food robotics.

· Significant growth rates are predicted for the market in Asia Pacific, Latin America, the Middle East, and Africa during the forecast period (2023 to 2033).

“Food robots tackle important challenges and possibilities in the food and beverage industry by providing automation solutions that improve efficiency, safety, quality, and sustainability. They help food manufacturers respond to changing consumer expectations and market dynamics while maintaining regulatory compliance and managing labor-related constraints,” says a Fact.MR analyst.

Food Robotics Driving Much-Needed Digitization in Food Industry

Growing adoption of digitization in the food industry is significantly driving the sales of food robotic solutions. Food robotic systems are becoming key components of smart production environments as the industry undergoes digital transformation. They allow for the seamless integration of sophisticated technologies such as IoT, data analytics, and automation, assisting food manufacturers in optimizing processes, improving product quality, and increasing overall efficiency.

Food robots can easily carry out the customization and personalization of food products made available by digitization. Incorporation of AI and machine learning in digitized food production contexts has helped improve the working capacity of these robots.

Rising Preference for Packaged Food

Demand for packaged food has been on the rise due to continuously changing lifestyles, urbanization, and dietary preferences. More people are opting for easy and tasty ready-to-eat meals, snacks, and processed foods. This has increased the demand for packaged food, which places additional pressure on food manufacturers to meet production quotas efficiently and consistently.

Food robotic systems can automate a variety of packaging operations, including filling, sealing, labeling, and quality control, guaranteeing that packaged food products are produced in large quantities and with precision. Food robotic systems help minimize human touch and lower the risk of contamination during the packaging process and can improve the shelf-life and freshness of packaged foods.

Competitive Landscape

The expanding adoption of robotics in food processing and production is propelling market growth. The increasing number of significant market players is influencing competitiveness, as suppliers invest in research and development to devise innovative solutions catering to industry needs.

The realm of food robotics comprises a blend of entrenched competitors, innovative startups, and global companies specializing in automation and robotics. Distinctive features of the food robotics market include continual technological advancements, tailoring solutions to align with the food sector’s requirements, and a strong focus on food safety, quality, and efficiency. With the escalating demand for automation in the food sector, competition among these entities is expected to intensify, driving further innovation and industry expansion.

Recent Developments:

· In February 2022, Mitsubishi Electric Corporation introduced a teaching-less robot system technology primarily designed for food-processing facilities. These robots conduct organizational, sorting, and similar operations at human-like speed without requiring constant supervision.

· In April 2021, Rockwell Automation Inc. established a partnership with Comau, aiming to streamline processing and lifecycle management in the food and beverages industry.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the food robotics market for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on type (articulated, cartesian, scara, parallel, cylindrical, collaborative, others), application (palletizing, packaging, repackaging, pick & place, processing), payload (low, medium, heavy), and end use (beverages, meat, poultry, seafood, dairy, bakery, fruits, vegetables, confectionery, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Global Trade Daily

Sales of Cyber Insurance are projected to reach US$ 40 billion by 2033

December 13th, 2023 Fact.MR Leave a comment

According to a recent study conducted by proficient analysts at Fact.MR, a leading provider of market research and competitive intelligence, the global Cyber Insurance Market is anticipated to experience substantial growth with a robust Compound Annual Growth Rate (CAGR) of 12%. The market is expected to achieve a valuation of US$ 40 billion by the conclusion of 2033.

Cyber insurance is specifically designed to aid organizations in navigating the aftermath of cybersecurity breaches and similar incidents. This insurance coverage includes both first-party provisions and third-party liability claims, aiming to mitigate the financial exposure associated with recovering from cyber losses. It encompasses compensations for losses arising from network security breaches, breaches of privacy, legal protection against lawsuits related to data breaches, and various other associated expenses.

The research report identifies key segments in the Cyber Insurance industry, highlighting the escalating threat posed by increasing cyber-attacks in terms of their intensity and frequency. These attacks pose significant risks to individuals, businesses, and even entire nations, leading to a surge in the adoption of cyber insurance solutions. The consequences of cyber-attacks on businesses include a dwindling customer base, operational disruptions, regulatory fines, legal penalties, attorney fees, loss of intellectual property, and damage to reputation.

The recent notable expansion of the cyber insurance market is attributed to the rise in cyber-attacks and their far-reaching impact on public safety, economic stability, and government cybersecurity. Additionally, the growing recognition of cyber risks associated with business interruptions, coupled with the proliferation of mandatory data security regulations across sectors such as banking and healthcare, has emerged as key drivers propelling the growth of the cyber insurance market.

Key Takeaways from Market Study

· The global market for cyber insurance is valued at US$ 12.4 billion in 2023.

· Worldwide demand for cyber insurance is predicted to increase at a CAGR of 12% through 2033.

· By the end of 2033, the market is projected to reach US$ 40 billion.

· The market in the United States is projected to expand at a CAGR of 18% over the forecast period.

· With a 43% revenue share in 2023, North America held the top spot in the global market.

· Adoption of cyber insurance by large enterprises is projected to rise at a 17% CAGR through 2033.

· The market in China is set to progress at a CAGR of 17.4% from 2023 to 2033.

· The BFSI segment accounts for 26% share of the global market in 2023.

“In recent years, the market for cyber insurance has seen rapid expansion. This expansion can be ascribed to the increase in the frequency and sophistication of cyberattacks, which have cost enterprises across several industries a significant amount of money. The need for cyber insurance plans has grown due to heightened awareness of cyber threats,” says a Fact.MR analyst.

Market Competition

The market for cybersecurity insurance is relatively concentrated, with key competitors providing superior technology and encouraging expansion through their current distribution networks. To maintain a competitive edge in the market, these technological titans are spending on innovations, mergers, acquisitions, and collaboration activities.

· In November 2022, Agilicus, a cybersecurity company, joined forces with Ridge Canada Cyber Solutions Inc. (RCCS), a prominent managing general insurance agency, to facilitate Canadian small and medium-sized businesses (SMBs) in meeting cybersecurity insurance requirements and obtaining coverage.

Key Companies Profiled

· Lockton Companies, Inc.

· Lloyd’s of London Ltd.

· Munich Re

· Allianz

· Zurich

· Berkshire Hathway Inc.

· Aon PLC

· American International Group, Inc

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global cyber insurance 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 component (solutions, services), type (first-party coverage, third-party coverage), company size (large enterprises, SMEs), and industry vertical (BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, government & public sector), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Global Trade Daily

Data Center Market is expected to reach US$ 279 Billion by 2032

November 11th, 2023 Fact.MR Leave a comment

Fact.MR predicts that the global data center market is expected to reach a valuation of roughly US$ 77 billion by 2022. By 2032, data center revenue is expected to have grown at a 13.8% CAGR and reach US$ 279 billion. Governments worldwide, including those of China, India, the U.S., and the U.K., are ramping up digital infrastructure investments to establish robust data centers. The collaboration between public and private sectors is accelerating the growth of digital infrastructure, as exemplified by the U.K. government’s commitment of over US$ 1 billion for digital hub development.

The trend of green data centers has gained significant traction due to the rising need for cost-effective and energy-efficient solutions, coupled with a focus on enhanced sustainability. Driven by digitization in every industry, data centers are poised for substantial growth in both mature and emerging markets. Market leaders are capitalizing on the megatrend of digitalization, with a primary strategy of enhancing their services through value addition at every stage of their offerings.

This recently released and informative report illuminates the market insights of IT Data Centers, focusing on key dynamics and their influence throughout the entire value chain, from suppliers to end-users. It delves into the growth trajectory of the IT Data Center Market.

As data centers pivot towards supporting advanced digital strategies, the success of their operations becomes intricately tied to the capabilities of the IT ecosystem in facilitating innovative initiatives. Organizations undergoing a digital business transformation have recognized the imperative for a more decentralized approach to meet the requirements of a robust digital business infrastructure. The escalating speed and volume of data accentuate inefficiencies in transporting information to the data center for processing.

Key Companies Profiled

· IBM Corporation

· Google LLC

· Equinix, Inc.

· AT&T Inc.

· Apple Inc.

· Cisco Systems Inc.

Market Segmentations

· By Type: New Data Centers, Internal Data Centers, Service Provider Data Centers, Data Center Rebuild

· By Application: Data Centers for IT & Telecom, Data Centers for BFSI, Data Centers for Governments, Data Centers for Healthcare, Others

· By Consulting: Network Design, Network Design & Planning, Security Consulting, Network Analysis, Benchmarking, Needs Assessment, Operation Assessment, Process Improvement

· By Integration: Project Management, Installation, Test & Debug, Custom Software Development, Security Implementation, Change Management, System Configuration, Training & Site Preparation

Revenues from new data centers are likely to surpass US$ 104,000 Mn by 2028-end.
Although data center rebuilds currently account for a significantly lower share of the data center market, an impressive growth rate, even though slightly lower than new data center construction, has been foreseen for data center rebuilds in the upcoming years.

The growth of the data center rebuilds is primarily driven by the hyperscale service providers, who are changing ways an IT space is sold and built. In the meantime, the data center providers are revamping their construction strategies for delivering capacity faster in larger chunks. The ongoing shift of the enterprise IT workloads, moving out of the on-premises data center to purpose-built facilities that are operated by colocation and cloud platforms providers, is the “trend behind the trend”.

Data Center Market: Impressive Momentum for Consulting & Integration of Data Centers
Data center consulting and integration services are likely to record an impressive rise in light of the rising complexity pertaining to the network design requirements. This coupled with the growing need for data centers across a wide range of industrial sectors will continue to augur well for the growth of the data center market in the near future. Revenues from data center consulting & integration are projected to exhibit an impressive 12.5% CAGR through 2028, which is greater than those from installation & construction.

Data center end-user proliferation, in combination with the rise in customizability and versatility in relevant network designs, will continue to be a key growth determinant for data center the market. With data center transformation being one of the top agendas among enterprises, demand for consulting & integration services is high as enterprises seek expertise for aiding their business strategy, planning, and implementation. “Data center service providers that invest in the consulting & integration skills, for supporting the digital initiatives of their customers, will continue to witness robust remunerativeness in the near future,” says a lead Fact.MR analyst.

The data center market will continue to showcase high growth in North America, wherein majority share of the market will continue to be accounted by the U.S. The data center market in Europe will trail that of North America, in terms of revenues; however, revenues from Europe will increase at a comparatively higher rate than those from North America through 2028.

Competitive Landscape
Major Companies have strong customer networks across the globe. Market frontrunners are tech giants with deep pockets, which aids them to invest heavily in development. Additionally, these players offer diversified services that are tailored as per individual customers.

Growth strategies adopted by market participants are agreements & contracts, collaborations, and new product developments to withstand their market position.

· In 2019, Qualcomm Technologies, Inc. launched an AI-based chip family named as Cloud AI 100. The ASIC family comes in a variety of thermal design and form factor points to make a different use case. This newly launched chip is heightened with refined features of AI to provide better performance for devices.

Global Trade Daily, Market insight

The Red Wine Industry is Poised to Flourish at a 5% CAGR from 2022 to 2032

November 7th, 2023 Fact.MR Leave a comment

According to a recently published industry report by Fact.MR, the projected valuation for the global red wine market in fiscal year 2022 is estimated to be US$ 82.7 billion. Over the assessment period spanning from 2022 to 2032, the market is anticipated to experience a moderate 5% compound annual growth rate (CAGR), ultimately reaching US$ 135 billion.

Between 2017 and 2021, the demand for red wine saw a growth rate of 2.3%, culminating at a valuation of US$ 78 billion. This restrained growth trajectory can be attributed to limited market penetration in various regions, as well as the premium nature of red wines, making them relatively expensive for consumers.

Manufacturers are capitalizing on the increasing popularity of the organic wine sector, which has witnessed significant growth in recent years. The rising trend towards consuming naturally-derived products is a major driving force behind this growth. Furthermore, the documented health benefits associated with organic red wine consumption, such as the reduction in cholesterol levels, high antioxidant properties, and the elimination of free radicals from the body, are expected to further boost its popularity.

Key Takeaways from the Market Study

· Global Red Wine market to expand nearly 1.6x from 2022-2032

· By type, shiraz and merlot red wines to hold 13% of global revenue share through 2032

· Sales of sweet red wines are expected to reach US$ 82.7 Bn by 2022, growing at a 4% CAGR through 2032

· Semi-sweet red wines to account for a revenue share exceeding 2/5th across the forecast period

· Light-bodied and full-bodied red wines to account for 9 out of 10 sales until 2032

· North America to capture a market share of 40% in the global red wines market

Rising social acceptance of alcoholic beverage consumption, coupled with documented instances of benefits associated with red wine is anticipated to deepen revenue pools for key manufacturers, says the Fact.MR analyst.

Competitive Landscape
The global market is highly fragmented with the presence of a large number of local and regional players. Market players are concentrating on product launches to broaden their market footprints.

Recent Developments

· In March 2021, Australia-based Accolade Wines has acquired Rolf Binder Wines of Barossa Valley in north-east Adelaide, Australia, for an undisclosed sum. Established in 1955, Rolf Binder Wines produces a wide range of highly acclaimed premium Barossa wines using fruit from its vineyards.

· In January 2021, E. & J. Gallo Winery (Gallo) announced the acquisition of more than 30 wine brands from Constellation Brands, Inc. The closing of the agreement between Gallo and Constellation was approved by the Federal Trade Commission on December 23, 2020.

· In September 2021, TWE introduced a four-strong Penfolds-branded red wine lineup made primarily from Napa Valley Cabernet parcels. The two higher-priced California Collection expressions are blended with a lower amount of South Australian Shiraz, so they aren’t entirely Californian.

Key Companies

· Accolade Wines Australia Limited

· Casella Family Brands

· Caviro

· Viña Concha y Toro SA

· Constellation Brands

· Diageo Plc

· E&J Gallo Winery

· Grupo Peñaflor

· The Wine Group

· Treasury Wine Estates

Key Segments in Red Wine Industry Research

By Product Type:

o Shiraz

o Merlot

o Cabernet Sauvignon

o Pinot Noir

o Barbera

o Blaufränkisch

o Bordeaux

o Cabernet Franc

o Germanyny

o Other Red Wines

By Body Type:

o Light Bodied

o Medium Bodied

o Full-Bodied

By Sweetness Level:

o Dry

o Semi-sweet

o Sweet

By Sales Channel:

o Modern Trade

o Grocery Stores

o Convenience Stores

o E-commerce Platforms

o Other Retail Formats

By Region:

o North America

o Europe

o APEJ

o Middle East & Africa

o Latin America

o Japan

Archives, Uncategorized

Global Organic Milk Industry is expected to reach US$ 319.36 Million By 2033

October 31st, 2023 Fact.MR Leave a comment

The global market for organic milk was estimated by Fact.MR to be worth US$ 159.75 million in 2022, with a 5% compound annual growth rate (CAGR) in demand from 2018 to 2022. Based on the most recent estimates, the market is expected to grow at a compound annual growth rate (CAGR) of 6.5% and reach a valuation of US$ 319.36 million by the end of 2033.

The surge in the sales of organic milk can be attributed to the burgeoning global demand for a diverse range of organic food products. This market is expected to thrive due to the escalating incidence of health issues such as diabetes, obesity, heart-related conditions, hypertension, and other health concerns.

Consumers perceive dairy products sourced from cows fed on organic or natural diets as superior in quality. This perception has led to a notable surge in the demand for milk that aligns with an organic and wholesome lifestyle. Such organic milk varieties are rich in essential nutrients that play a pivotal role in promoting and sustaining a healthy way of life.

Key Driving Forces Accelerating the Market Growth

· Consumers are becoming more health-conscious and seeking natural, organic, and healthier alternatives to conventional products. Organic milk is perceived as a healthier option due to the absence of synthetic pesticides, antibiotics, and hormones.

· Growing concerns about the environmental impact of conventional dairy farming practices, such as the use of chemical fertilizers and pesticides, have led consumers to opt for organic milk, which is produced using sustainable and environmentally friendly methods.

o United States market growth rate is expected to witness a 7% CAGR during the forecast period and reach US $ 90.06 Mn by 2033-end.

· There is a rising awareness of animal welfare issues, and consumers are choosing organic milk because organic dairy farms generally adhere to higher animal welfare standards.

· Government regulations and certifications for organic products provide assurance to consumers about the authenticity and quality of organic milk, fostering its growth. Moreover, the increasing availability of organic milk in various retail channels, including supermarkets, specialty stores, and online platforms, has made it more accessible to consumers.

Vital indicators shaping the future of the industry

· Changes in consumer preferences and behavior, such as increased demand for natural, organic, and sustainable products, will continue to drive the growth of the organic milk market in North America.

· Any changes in government regulations and organic certifications can impact the production, distribution, and marketing of organic milk, affecting consumer trust and market growth.

· The level of market penetration and the awareness of organic milk among consumers will significantly influence its future growth. Increased awareness through marketing and education campaigns can drive market expansion.

· The availability of organic milk in various retail channels, including supermarkets, specialty stores, and online platforms, will determine its accessibility and potential for growth.

· The level of competition in the organic milk market, including the presence of major dairy companies and smaller organic dairy farms, will affect pricing, product innovation, and market share dynamics.

Key Companies Profiled in This Report

· Danone

· Fonterra Co-Operative Group Limited

· Groupe Lactalis S.A.

· Dairy Farmers of America Inc.

· Arla Foods AmbA

· Agropour Dairy Co-Operative

· The Kroger Company

· Organic Valley Co-Operative

· Clover Stornetta Farms Inc.

· Stratus Family Creamery Inc.

Challenges hindering the market growth

· Organic dairy farming involves more expensive production practices, such as organic feed, higher labor costs, and reduced herd sizes, leading to higher production costs. This often translates into higher retail prices for organic milk compared to conventional milk.

· The transition of conventional dairy farms to organic practices takes time, and there may not be enough supply to meet the growing demand for organic milk. Limited supply can lead to supply shortages and price fluctuations.

· Consumers may perceive the price premium of organic milk as too high, leading them to choose conventional milk, especially during economic downturns.

· The organic milk market faces competition from conventional milk and plant-based milk alternatives, such as almond, soy, and oat milk, which can limit the market share of organic milk.

How competition influences the market

Organic milk producers have been focusing on product differentiation to stand out in a crowded market. This can lead to the introduction of various product offerings, such as flavored organic milk, organic milk-based beverages, and specialty formulations, catering to different consumer preferences and needs.

· In 2021, Lactalis Group acquired Leerdammer and Shostka, which is expected to help Lactalis Group develop quality and reputable local products.

Segmentation of Organic Milk Industry Research Report

· By Product Type:

o Skimmed

o Whole

o Partly Skimmed

· By Source:

o Cow

o Buffalo

· By Packaging Type:

o Pouches

o Cans

o Bottles

o Tetra Packs

o Bulk Packs

· By Flavor:

o Non-flavored

o Flavored

· By Distribution Channel:

o HoReCa (Hotels, Restaurants, & Catering)

o Specialty Stores

o Modern Trade

o Convenience Stores

o e-Retailers

· By Pasteurization Type:

o High-Temperature, Short-Time (HTST) Method

o Ultra-pasteurization (UP)

o Vat Pasteurization

· By Region:

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East & Africa

Global Logistics, Global Trade Daily, Market insight, News

Global Third-Party Logistics Market Size is Estimated at US$ 2,144 Billion by 2032

October 26th, 2023 Fact.MR Leave a comment

The global third-party logistics market is poised to achieve a valuation of US$ 2,144 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 7.6% projected for the period spanning 2022 to 2032. The primary drivers of this growth are the increasing adoption of smart technology and the heightened awareness of e-commerce.

According to Fact.MR, the global third-party logistics market is expected to surpass a value of US$ 1,031 billion in 2022. The surge in industrial activities and the enhancement of foreign trade operations, which demand efficient transportation and storage systems, will drive the demand for third-party logistics services.

Moreover, the rising need for essential medicines and vaccines, along with a growing emphasis on outsourcing logistics services, will stimulate the adoption of third-party logistics within the healthcare sector.

The advent of e-commerce platforms across various sectors, including healthcare, railway, automotive, and more, has led to an increased demand for streamlined supply chain management to enhance revenue. Consequently, end-users are turning to smart third-party logistics solutions to ensure productivity and profitable returns.

As per the study, the manufacturing segment is expected to be the dominant force in the global market, particularly due to rapid expansion in the United States, Mexico, and India. The adoption of third-party logistics for manufacturing automotive products and enhancing customer service is fostering a favorable market environment. In response, key players are targeting the North America and South Asia markets to capitalize on the growing applications in the manufacturing industry.

For example, in April 2021, Flipkart, a leading e-commerce platform in India, announced a partnership with Mahindra Logistics Limited to streamline the deployment of electric vehicles within its logistics fleet.

Key Takeaways:

· The global third party logistic market is expected to be worth US$ 955 billion in 2021.

· North America is expected to have the highest market share in 2022, amounting for 40% of the overall share.

· Based on service, the domestic transportation management (DTM) segment is anticipated to hold 32% share through 2032.

· In terms of end-use, the manufacturing segment is anticipated to account for 24% of the revenue share in 2022.

· Asia Pacific third party logistics market is expected to grow at 10% CAGR owing to the growing focus on transportation and logistics infrastructure.

Growth Drivers:

· The incorporation of advanced technologies such as machine learning, artificial intelligence, and the internet of things into third-party logistics will boost the market.

· Rising emphasis on shipping cost reduction, seasonal variation management, lowering reliance on firm assets, and timely delivery management will boost the industry.

Restraints:

· The adoption of third-party logistics is expected to be hampered by stringent government laws and regulations governing shipping activities.

· The producer’s lack of control over logistics and warehousing operations is expected to hinder market expansion.

Competitive Landscape:

To enhance their worldwide footprint, key businesses are working on various methods such as mergers and acquisitions, partnerships, collaborations, and joint ventures. Furthermore, in order to maintain their market position, prominent firms are expanding their product ranges by creating production facilities.

For instance,

· In October 2021, Nippon Express enhanced its presence in the Republic of Serbia by opening the Belgrade Branch. This development intends to broaden logistics services in order to suit the changing logistical demands of Central and Eastern Europe.

· In 2021, DHL, the global logistics giant, has formed a relationship with Embark, a major firm in North America that develops autonomous trucking technology. DHL intends to put these trucks into its operations based on this strategy once the software is publicly available in 2024. The primary goal is to maximize value while reaping the projected benefits of speed, safety, and sustainability.

Key Companies Profiled by Fact.MR

· Kuehne + Nagel

· Yusen Logistics Co. Ltd.

· Burris Logistics

· CEVA Logistics

· United Parcel Service of America, Inc.

· BDP International

· FedEx

· DSV

· DB Schenker Logistics

· XPO Logistics, Inc.

· C.H. Robinson Worldwide, Inc.

· Nippon Express

· J.B. Hunt Transport, Inc.

More Valuable Insights on Third Party Logistics Market

In the latest study, Fact.MR offers a detailed study on global third party logistics market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of third party logistics through detailed segmentation as follows:

By End Use:

· Automotive

· Manufacturing

· Healthcare

· Retail

· Other

By Transport:

· Airway

· Railway

· Roadway

· Waterway

By Service:

· Value Added Logistics Services (VALs)

· Domestic Transportation Management (DTM)

· Warehousing &Distribution (W&D)

· Dedicated Contract Carriage (DCC)/Freight forwarding

· International Transportation Management (ITM)

By Region:

· North America

· MEA

· Latin America

· Europe

· Asia-Pacific

Key Questions Covered in the Third Party Logistics Market Report

· What is the projected value of the third party logistics market in 2022?

· At what rate will the global third party logistics market grow until 2032?

· Which are the factors hampering the growth in the third party logistics market?

· Which region is expected to lead in the global third party logistics market 2022-2032?

· Which are the factors driving the third party logistics market during the forecast period?

· What is the expected market value of the third party logistics market during the forecast period?

Global Trade Daily, Trucking

Growing Construction Industry Fuels Dump Truck Rental Services Demand

July 20th, 2023 Fact.MR Leave a comment

The global dump truck rental market is estimated at US$ 6.7 billion in 2023 and is expected to expand at a CAGR of 3.8% during the forecast years of 2023-2033.

The demand for dump trucks is growing due to rapid urbanization, infrastructure development, increased mining activities, growth in the agriculture sector, and a surge in construction projects. Renting dump trailers provides end-use industries with operational optimization.

These trucks offer the advantage of temporary usage, eliminating the need for significant capital investment or long-term commitments for machine handling.

Construction and infrastructure development remain prominent end-use industries paving the way for the growth of the dump truck rental market growth in the coming years.

Key Takeaways from Market Study

The global dump truck rental market is projected to expand at an impressive CAGR of 3.8% and be valued at US$ 9.8 billion by 2033
The market witnessed a CAGR of 3.9% from 2018 to 2022
Under the capacity type segment, 5-20 tons truck dominates the market with 59.1% market share in 2023
United States dominated the market with a 28.7% market share in 2023
Based on country, the dump truck rental market is expected to increase at CAGRs of 4.3% and 4.0%, respectively, in the United States and China

“Growing Mining & Quarrying Activities to Play a Crucial Role in the Development of the Dump Truck Rental Market,” says a Fact.MR analyst.

Market Development

To cater to a broader range of customer requirements, rental service providers are diversifying their truck offerings. They offer trucks of different sizes, load capacities, and specifications to accommodate various types of materials and applications. This diversification allows them to serve a wider customer base and address specific industry needs.

Rental service providers are also entering into strategic partnerships with construction companies, agricultural businesses, or other industry players to expand their customer base. Collaborating with these entities allows them to access a ready customer pool and provide tailored rental solutions for specific projects or industries.

Archives, Global Trade Daily, Market insight

Nitro-infused Cola Market To Accumulate US$ 151.2 Million By 2033

May 16th, 2023 Fact.MR Leave a comment

According to Fact.MR, a market research and competitive intelligence provider, the global nitro-infused cola market is forecasted to touch US$ 151.2 million by 2033, increasing rapidly at 22.3% CAGR from 2023 to 2033.

Nitro-infused beverages are carbonated drinks infused with nitrogen gas, giving them a creamy and smooth feel. Nitro-infused coffee and beer have grown in popularity in recent years, and the trend has now spread to other beverages such as cola. A nitro-infused cola is a form of carbonated beverage that is injected with nitrogen gas, resulting in a creamier and smoother texture than standard carbonated sodas. Nitrogen gas is commonly used to lend a frothy, velvety texture to beverages such as coffee and beer, and it is now being employed to offer an unusual experience with soft drinks as well.

Nitrogen is infused into cola by dissolving the gas under high pressure in the liquid. Consequently, the drink features a creamy head, comparable to a latte or stout beer. This creamy head not only looks good but also improves the drink’s texture, making it smoother and creamier. Nitro-infused cola is gaining popularity as a speciality beverage, especially at craft soda shops and cafes. The addition of nitrogen produces a different drinking experience from typical carbonated sodas, and it’s a delightful way to enjoy a familiar beverage with a twist.

Growing demand for distinctive and artisanal beverages is one of the primary drivers of the worldwide nitro-infused cola market. Customers want new and interesting products that provide a different taste experience than conventional sodas. Nitro-infused cola can have a creamy texture and a distinct flavor profile, distinguishing it from other beverages. Another main reason is the growing interest in health and wellness. Nitro-infused cola can be perceived as a healthier alternative to conventional soda, as it contains less sugar and calories.

Key Takeaways from Market Study

The global nitro-infused cola market amounted to US$ 20.2 million in 2023.
The market for nitro-infused cola is predicted to reach US$ 151.2 million by 2033.
Demand for nitro-infused cola is predicted to surge at a CAGR of 22.3% from 2023 to 2033.
The United States market is expected to garner US$ 72 million by 2023.
Consumption of draft cola is projected to increase at a CAGR of 22.9% during the forecast period.

“Consumers’ growing interest in alternative and artisanal beverages is a major factor boosting the global market for nitro-infused cola products. More consumers are looking for unique and interesting products that are different from the mass-produced options available in supermarkets. Nitro-infused cola is a more premium and specialized version of traditional cola, which may appeal to those who are willing to pay more for a unique drink experience,” says a Fact.MR analyst.

Regional Analysis

North America is dominating the global nitro-infused cola market due to the presence of leading market players in the United States. Asia Pacific, backed by China, India, Japan, and South Korea, is witnessing considerable growth in the worldwide market. Moreover, the United Kingdom is pushing the growth of the European market.

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Electrical Steel Market Sales to Capture US$ 55.1 Billion by 2032

April 28th, 2023 Fact.MR Leave a comment

The global electrical steel market is valued at US$ 25.9 billion in 2022 and further expand at a CAGR of 8.5% to reach US$ 55.1 billion by the end of 2032. Sales of electrical steel accounted for nearly 12.3% of the global specialty steel market at the end of 2021. Industrial growth plays a crucial part in market’s growth over the forecast period.

It is a soft magnetic material with enhanced electric properties having multivariate usage across small relays, electric motors, and generator devices. Electric steel is also referred to as transformer steel, lamination, and silicon steel. It is dominantly used in electrical and power distribution systems.

Eminent players includes Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel, Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, among others.

This material is having high permeability which is increasing capacity to support magnetic applications. The higher electrical resistivity and decreased loss of hysteresis are other qualities for preference of electric steel.

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Why Germany has High Demand for the Electrical Steel?

Europe led by Germany has a high demand for the electrical steel market as increased demand for electric vehicles. Germany has a deeply rooted and evolving market for electric vehicles, and data centers also increase the demand for the market. As for the production of electric vehicle components and motors, electrical steel is preferred due to its specific properties.

Further, the data centers require high connectivity coupled with numerous transformers for enhanced operations, thus, resulting in the high adoption of product to meet the specific requirements.

Key Takeaways from Market Study

The global electrical steel market is valued at US$ 25.9 billion in 2022 and is estimated to grow at a CAGR of 8.5%.
Electrical steel market to reach US$ 55.1 billion by the end of 2032
East Asia tops the global market accounting for 44.5% market share.
During 2017-2021, sales of the market increased at 5.9% CAGR.
Motors accounts for the highest CAGR growth of 7.0%, over the projection period.
Energy sub-segment dominates with 40.7% electrical steel market share in 2022
Motors account for the highest CAGR growth of 7.0%, over the projection period

Recent Market Developments

Major key electrical steel market players are focusing on safe and environment-friendly materials. The companies are focusing on developing products that comply with the safety norms of local markets. With effective research, development, and innovation, global manufacturers are working on the development of new products.

Further, the companies focus on cost reduction, improvement of existing products, process improvement, development of new manufacturing methods, quality assurance, and improvement of existing manufacturing methods to gain high-profit margins.

In April 2022, POSCO started the construction of an electrical steel production facility. The steel manufacturer in South Korea plans to invest US$ 805 million in the construction of the plant. The facility will have an annual production capacity of 300,000 tons of NOES.
In May 2021, JSW Steel and JFE Steel Corporation inked a memorandum of understanding (MoU) to carry out a feasibility study for the establishment of a GOES sheet manufacturing and sales joint-venture company in India.

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NFC Chip Market Size is Estimated to Surpass US$ 7.6 Billion Rise at 15% CAGR by 2033

April 27th, 2023 Fact.MR Leave a comment

The global NFC chip market is valued at US$ 1.9 billion in 2023 and is predicted to progress at a CAGR of 15% from 2023 to 2033.

One of the key drivers of the near field communication (NFC) chip market is the increasing adoption of mobile payments across the world. Many people are now using their smartphones to make payments, and NFC technology is a key enabler of this trend. NFC-enabled smartphones can be used to make payments at point-of-sale terminals that support contactless payments, which is more convenient and secure than using cash or traditional payment methods.

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Another factor boosting the sales of NFC chips is the development of the Internet of Things (IoT). NFC technology is being used in a wide range of IoT applications, from smart homes to connected cars. NFC-enabled devices can be used to exchange data and enable secure communication between devices, which is essential for many IoT applications.

Sales of NFC chips are experiencing tremendous growth, with increasing demand from various industries, including healthcare, retail, transportation, and finance. The healthcare industry is significantly using NFC technology for patient monitoring and remote healthcare services, while retailers are using it to improve the customer experience by offering several mobile payment options and personalized promotions.

Key Takeaways from Market Study

The global NFC chip market is expected to reach US$ 7.6 billion by 2033.
The United States market for NFC chips is expanding rapidly due to the presence of key market players.
NFC technology is widely used in the healthcare sector in Germany.
China is the leading market in Asia Pacific due to its increasing use in the banking sector.

“Popularity of wireless charging and NFC-enabled vehicle diagnostic systems are fuelling NFC chip sales,” says a Fact.MR analyst.

Recent Market Developments

STMicroelectronics introduced an affordable NFC Type 2 Tag IC with privacy features and enhanced NFC data exchange format (NDEF) in November 2021. For high-volume utilisation cases such as customer engagement, product information, and brand protection, the solution offers a balance of cost and functionality.
In May 2019, NXP Semiconductors and Identive, a leader in digital security and identity for the Internet of Things, developed an ultra-cheap RFID inlay.

More Valuable Insights on Offer

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

The study divulges essential insights on the market based on product type (auxiliary, non-auxiliary), storage capacity (up to 64 bytes, 65 to 168 bytes, 169 to 180 bytes, 181 to 540 bytes, above 540 bytes), application (smartphones, laptops & notebooks, smart cards, televisions, point-of-sale systems, medical devices, vehicles, smart wearables), and end-use industry (automotive & transportation, consumer electronics, retail, BFSI, healthcare, building & infrastructure, media & entertainment), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Demand for Food Robotics Solutions is projected to reach a market value of US$ 7.8 billion by 2033

Why Germany has High Demand for the Electrical Steel?

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