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).

Archives, 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, Global Trade Daily, Imports/Exports, United states news

The Largest Import Markets for Frozen, Dried, and Smoked Fish

October 24th, 2023 IndexBox Leave a comment

Fish is an essential part of the human diet and is consumed in various forms across the globe. Among these, frozen, dried, and smoked fish are popular choices due to their longer shelf life and convenience. In this article, we will explore the top import markets for these three fish categories and delve into the key statistics and numbers that define these markets.

1. United States

The United States, with an import value of $15.6 billion in 2022, emerges as the leading market for frozen, dried, and smoked fish. This strong demand is primarily driven by the popularity of seafood in the American diet and the extensive consumption of processed fish products. The United States is known for its booming e-commerce sector, which further enhances the availability and accessibility of these fish products.

2. China

China takes the second spot on the list with an import value of $12.7 billion in 2022. The growing middle-class population in China has led to increased demand for high-quality protein sources, including fish. Additionally, changing dietary habits and an increasing focus on health have contributed to the surge in imports of frozen, dried, and smoked fish in the country.

3. Japan

Japan is renowned for its love for seafood, and its import value of $9.0 billion in 2022 solidifies its position as one of the top import markets for frozen, dried, and smoked fish. With a rich culinary tradition that heavily relies on seafood, Japanese consumers have a strong preference for these types of fish products. Moreover, the growth of the sushi and sashimi culture in Japan has further bolstered the demand for frozen and smoked fish.

4. Spain

Spain follows closely with an import value of $3.3 billion in 2022. Spaniards have a deep-rooted connection with fish in their cuisine and culture. Both fresh and processed fish products are integral parts of traditional Spanish dishes. The convenient nature of frozen, dried, and smoked fish has made them a popular choice among consumers, contributing to the significant import volumes.

5. South Korea

South Korea holds the fifth position on the list, with an import value of $3.2 billion in 2022. Korean cuisine, known for its spiciness and diverse flavors, includes various fish dishes. Importing frozen, dried, and smoked fish helps meet the demand for these traditional and contemporary Korean recipes. Additionally, the hectic urban lifestyle has increased the preference for ready-to-cook fish products, boosting their imports.

6. Germany

Germany, with its import value of $3.2 billion in 2022, demonstrates a significant market for frozen, dried, and smoked fish. Germans have a strong affinity for fish, and it is a staple in their culinary traditions. As a result, demand for processed fish products, particularly frozen and smoked fish, remains high. The convenience factor and long shelf life of these products further drive their popularity in the German market.

7. France

France ranks seventh on the list, with an import value of $2.9 billion in 2022. French cuisine is renowned worldwide for its sophistication and emphasis on fresh ingredients, including fish. However, frozen, dried, and smoked fish have gained popularity due to their availability throughout the year, even when certain fish species are out of season. This convenience factor contributes significantly to their import demand.

8. Thailand

Thailand follows with an import value of $2.8 billion in 2022. The Thai population’s penchant for seafood reflects in their cuisine, which includes a wide range of fish and shellfish dishes. However, the convenience and longer shelf life of frozen, dried, and smoked fish make them a popular choice among Thai consumers. The thriving tourism sector also contributes to the demand for these fish products.

9. Netherlands

The Netherlands holds the ninth position on the list, with an import value of $2.7 billion in 2022. With its strategic geographical location, the Netherlands serves as a major hub for fish trade within Europe. The country has a strong fishing industry, but the demand for a diverse range of fish products, including frozen, dried, and smoked fish, is met through imports. Additionally, the Netherlands acts as a key distribution center for these products across the European continent.

10. Italy

Italy completes the top ten import markets, with an import value of $2.5 billion in 2022. Italian cuisine heavily relies on seafood, and fish plays a vital role in various regional dishes. The popularity of processed fish products, such as frozen and smoked fish, stems from their versatility in Italian culinary traditions. Moreover, the convenience of these products aligns well with the busy lifestyles of Italian consumers.

In conclusion, the global demand for frozen, dried, and smoked fish is driven by changing dietary preferences, convenience, and the influence of culinary traditions worldwide. The United States leads the pack with its immense appetite for these fish products, closely followed by China and Japan. The market intelligence platform, IndexBox, provides valuable insights into these import markets and aids in understanding the key statistics that shape the global fish trade.

Source: IndexBox Market Intelligence Platform

Archives, Global Trade Daily, Market insight

Unravelling the Growth: Acrylic Fibers Market Set to Surpass $7.1 Billion by 2032

October 18th, 2023 Global Market Insights Leave a comment

The global textile industry is undergoing a remarkable transformation, driven by the soaring demand for synthetic fibers. Among these, acrylic fibers have emerged as a pivotal player, poised to reach a market value exceeding $7.1 billion by 2032. This growth is indicative of the material’s versatile applications, exceptional qualities, and its pivotal role in various industries.

The Acrylic Advantage

Acrylic fibers are synthetic fibers made from polymers derived from petroleum. They possess an array of characteristics that make them highly desirable for numerous applications. One of the key strengths of acrylic fibers lies in their exceptional softness and warmth. Often mistaken for wool due to their similar feel and appearance, acrylic fibers offer an affordable alternative to natural fibers, making them a popular choice in the textile industry.

Durability and Resilience

In addition to their textile applications, acrylic fibers are also highly valued in industries where durability and resilience are paramount. They exhibit remarkable resistance to sunlight, moisture, and chemicals, making them ideal for outdoor applications. This versatility positions them as a crucial component in products ranging from outdoor furniture to marine upholstery.

Innovations and Applications

The remarkable growth of the acrylic fibers market is further propelled by continuous innovation. Manufacturers are investing heavily in research and development to enhance the properties of acrylic fibers, opening up new avenues of application. From advanced protective clothing with enhanced fire resistance to high-performance filtration systems, the potential applications of acrylic fibers are ever-expanding.

Impact on Sustainability

Beyond their functional benefits, acrylic fibers also play a role in sustainable practices. They can be recycled, providing a more environmentally friendly alternative to certain other synthetic fibers. This recyclability is increasingly crucial in a world that is becoming more attuned to the importance of sustainability in industry.

Market Drivers and Trends

Several factors are contributing to the remarkable growth of the acrylic fibers market. The fashion industry’s embrace of synthetic fibers, driven by their affordability and versatility, is a significant driver. Additionally, the demand for outdoor and activewear, which require materials with superior durability and weather resistance, is bolstering the market.

Furthermore, technological advancements in fiber production are contributing to the market’s expansion. The development of innovative spinning techniques and the use of advanced additives are enabling manufacturers to create acrylic fibers with enhanced properties, further broadening their applications.

Conclusion

The acrylic fibers market’s trajectory towards surpassing $7.1 billion by 2032 is a testament to the material’s exceptional versatility and the dynamic industries it serves. As technology continues to advance and consumer demands evolve, we can expect even greater innovations in acrylic fiber production and applications. With their softness, durability, and potential for sustainability, acrylic fibers are poised to remain a cornerstone of the global textile and industrial sectors for years to come.

https://www.gminsights.com/industry-analysis/acrylic-fibers-market

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Aerial Imaging Market Soars: Expected to Exceed $25 Billion by 2032

October 5th, 2023 Global Market Insights Leave a comment

In an era of rapid technological advancement, aerial imaging has emerged as a transformative force across various industries. This cutting-edge technology leverages drones, satellites, and aircraft equipped with high-resolution cameras to capture detailed imagery from above. With applications ranging from agriculture to urban planning, the global aerial imaging market is poised for exponential growth. Experts predict that by 2032, the market size is set to surpass a staggering $25 billion.

Expanding Applications

Aerial imaging is finding applications in a diverse range of sectors. In agriculture, it aids in precision farming by providing farmers with vital insights into crop health, enabling more efficient resource allocation. In urban planning and infrastructure development, it offers detailed 3D models and maps, aiding in design, monitoring, and maintenance. Furthermore, industries like real estate, environmental monitoring, and disaster management have also been quick to adopt this technology.

Technological Advancements Driving Growth

The rapid evolution of imaging technologies has been a major catalyst for the aerial imaging market’s growth. High-resolution cameras, LiDAR (Light Detection and Ranging) systems, and advanced image processing algorithms are now capable of capturing incredibly detailed and accurate data. This has unlocked new possibilities for applications such as forestry management, geological surveys, and wildlife conservation.

Cost-Efficiency and Time Savings

Aerial imaging significantly reduces the time and resources required for data collection compared to traditional ground-based methods. Drones, in particular, have become indispensable tools for industries seeking to gather precise information in a cost-effective manner. This has made aerial imaging an attractive option for businesses looking to enhance their operational efficiency.

Regulatory Frameworks and Compliance

The aerial imaging industry is subject to evolving regulatory frameworks. Governments around the world are recognizing the potential of this technology while also implementing measures to ensure safety, privacy, and data protection. Industry players are working closely with regulatory bodies to establish guidelines that strike a balance between innovation and responsible use.

Emerging Markets and Untapped Potential

While developed regions have been at the forefront of adopting aerial imaging, emerging markets are now catching up. Countries in Asia, Latin America, and Africa are increasingly recognizing the benefits of aerial imaging across various sectors. This presents a significant growth opportunity for companies in the industry.

Challenges and Future Prospects

Despite its tremendous potential, the aerial imaging market faces challenges such as limited access to airspace, weather-related constraints, and data processing complexities. However, continuous research and development efforts are focused on overcoming these hurdles. Advancements in AI-powered data analysis and automation are expected to further streamline workflows.

Archives, Global Trade Daily, Market insight, Technology

IoT Chip Market to Reach US$ 7.69 Billion, Globally by 2033 at 5.7% CAGR

October 3rd, 2023 Future Market Insights Leave a comment

The IoT chip market is forecasted to garner revenue of US$ 7.69 billion in 2033, up from US$ 4.4 billion in 2023, advancing at a rate of 5.7% from 2023 to 2033.

The demand for advanced and efficient IoT chips is skyrocketing with the increasing adoption of IoT devices and solutions across various sectors. The proliferation of IoT devices, from smart home appliances and wearables to industrial sensors and autonomous vehicles, is a primary driver of the market’s expansion.

The need for seamless connectivity and efficient data processing in these devices is fueling the demand for specialized IoT chips, facilitating market size expansion.

The integration of AI capabilities in IoT chips is unlocking new possibilities for intelligent decision-making and automation. AI-powered IoT chips can analyze and interpret data in real time, enabling predictive maintenance, advanced analytics, and autonomous operations.

Despite the significant growth potential, the IoT chip market faces challenges such as interoperability issues, data privacy concerns, and the need for seamless integration with existing infrastructure. However, these challenges also present opportunities for innovation, collaboration, and partnerships among IoT chip manufacturers, device manufacturers, and software developers.

Edge computing, which brings data processing and analytics closer to the source of data generation, presents significant opportunities in the market for IoT chips.

By integrating edge computing capabilities into IoT chips, manufacturers can enable real-time data analysis, reduce latency, and enhance decision-making at the network’s edge. This opens up possibilities for intelligent IoT applications that require quick response times.

Companies that invest in developing IoT chips with enhanced edge computing capabilities can position themselves at the forefront of this transformative technology, catering to the evolving needs of IoT deployments.

Key Takeaways:

In 2022, North America held a value share of 32.5% in the IoT chip industry, with the United States alone accounting for 20.3%.
The European market accounted for a value share of 23.4% in 2022, with Germany contributing 10.4%.
In 2022, the sensors segment held a significant value share of 39.2% based on hardware.
The market value for IoT chips reached US$ 4.23 billion in 2022, with a CAGR of 3.6% from 2018 to 2022.
Based on end use, the manufacturing sub-segment was predicted to account for a 14.8% share in 2022.
The market for IoT chips in India is likely to secure a 6.5% CAGR from 2023 to 2033.

How Intense Is the Competition in IoT Chip Market?

The competition in the IoT chip industry is highly intense. The rapid growth and increasing demand for IoT devices have attracted numerous players, including established semiconductor manufacturers, technology giants, and start-ups.

The market is experiencing significant growth due to the proliferation of connected devices across various industries. This growth potential attracts existing players and new entrants, creating a crowded and highly competitive landscape.

Collaboration and strategic partnerships are common in the IoT chip industry as companies seek to leverage complementary expertise and resources. These alliances often aim to deliver comprehensive IoT solutions, combining hardware, software, and connectivity.

Competition arises not only between individual companies but also among alliances and consortia. The IoT chip industry is global, with players vying for market share in different regions. Competition is not limited to specific geographic locations but spans multiple continents, with companies targeting various markets to expand their customer base and revenue streams.

The market encompasses a wide range of industries, and this diversification leads to competition among companies specializing in different sectors, each striving to capture market share and establish dominance in their respective niches.

wwex iot market suppliers EMO logistics fuel warehouse

Archives, Global Trade Daily, Market insight

IoT in Supply Chain Market is likely to witness a worth of US$ 41.8 Billion, rising at a CAGR of 12.9% from 2023 to 2033

June 23rd, 2023 Future Market Insights Leave a comment

The global IoT in the supply chain market is projected to be worth US$ 41.8 billion by 2033. It’s expected to be worth more than US$ 12.4 billion by 2023. The global market is anticipated to expand at a CAGR of 12.9% from 2023 to 2033.

Several factors contribute to the rising demand for the Internet of Things (IoT) in the supply chain sector. Real-time tracking and monitoring of commodities across the supply chain are made possible by IoT devices. It is anticipated that it will be widely utilized to gather precise and timely information about their whereabouts, health, and status.

IoT adoption is anticipated among supply chain managers who want to improve visibility and control over their operations. Additionally, it can aid in maximizing inventory control, lowering losses, and boosting productivity. Demand would be further boosted by IoT technology’s ability to provide predictive maintenance of important machinery and equipment in the supply chain.

Vehicles, storage spaces, and industrial plants are a few of these. Potential failures or performance issues can be discovered in advance, allowing for preventive maintenance and reducing downtime, by gathering and analyzing data from IoT sensors implanted in these assets. By 2033, it is expected to make IoT in supply chains more popular.

IoT-enabled supply chain solutions would make it easier for different process participants to communicate and integrate with one another. Suppliers, producers, distributors, and retailers are a few among them.

The connection can facilitate quicker decision-making, improve collaboration, and expedite procedures. Improved coordination and reactivity within the supply chain ecosystem are anticipated as a result of these qualities.

Key Takeaways:

The global IoT in the supply chain industry showcased an astonishing CAGR of 5% from 2018 to 2022.
The United States IoT in the supply chain industry is expected to be worth US$ 8.4 billion by 2033.
The United Kingdom IoT in the supply chain industry is expected to surge at a CAGR of 5% from 2023 to 2033.
China IoT in the supply chain industry is expected to surpass a value of US$ 10.4 billion by 2033.
The hardware segment by component is projected to surge at a CAGR of 7% from 2023 to 2033.

Competitive Landscape

Several well-known technology giants are active in the IoT market and provide complete IoT supply chain solutions. IoT platforms, cloud infrastructure, and analytics tools are all provided by organizations such as IBM, Microsoft, and Oracle. They are frequently positioned as leading players in the competitive environment thanks to their extensive network of market relationships and solid customer base.

On the market, there are specialized IoT solution providers who concentrate solely on the supply chain sector. For example, IoT-enabled tracking and monitoring systems designed for supply chain operations are offered by Savi Technology and Roambee.

They offer the hardware, connectivity, and software platforms needed for supply chain process improvement, real-time visibility, and predictive analytics. These individuals frequently have extensive domain knowledge and a thorough understanding of the unique requirements and problems of supply chain management.

For instance,

Siemens and Amazon Web Services (AWS) announced a partnership to integrate Siemens’ MindSphere with AWS IoT services in November 2021. Through this agreement, industrial customers would be able to utilize IoT data from their supply chains. Additionally, they have the ability to use machine learning and advanced analytics.

Archives, Global Logistics, Global Trade Daily, Market insight

Global Electric Cargo Bike Market is Estimated to be Worth US$ 6.2 Billion, Growing at a CAGR of 11.4% by the Year 2033 end

June 20th, 2023 Future Market Insights Leave a comment

The global electric cargo bike market is expected to attain a valuation of US$ 2.1 billion in 2023 and is projected to reach US$ 6.2 billion by 2033, expected to rise at a CAGR of 11.4% during the forecast period.

The rise of e-commerce has sparked an increased need for last-mile delivery services, a demand that electric cargo bikes are well-positioned to meet. In urban areas, where congestion and limited parking spaces can hinder delivery vans or trucks, electric cargo bikes offer an efficient solution. These bikes enable quicker and more cost-effective deliveries, addressing the challenges of congested urban environments. With the continued growth of e-commerce, the demand for electric cargo bikes is expected to rise further.

The demand for electric cargo bikes is anticipated to rise due to increased investments from key players driven by the growing e-commerce industry. For example, on November 24, 2022, Amazon, specializing in e-commerce, announced plans to expand its United Kingdom electric-cargo bike fleet in the coming years. This expansion aims to enhance foot-based deliveries, contributing to the decarbonization of the transportation network used for package deliveries across the country.\

The rise in e-commerce and the impact of the pandemic have led to an increased demand for home deliveries of products and services. In response, businesses and industries are investing more in improving logistics and transportation to minimize downtime, save costs, and enhance customer satisfaction.

Key Takeaways:

The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.

“The thriving e-commerce industry and use of electric cargo bikes for fast parcel deliveries are expected to drive market growth during the forecast period,” – comments an analyst at FMI.

Competitive Landscape:

The market for electric cargo bikes is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc, Amsterdam Bicycle Company, Triobike.

Some recent developments in this market are:

In October 2022, French company Douze Cycles introduced a series of cargo bikes comprising four models, three of which feature electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg.
In June 2022, Tern unveiled NBD, a low-step e-bike capable of supporting a maximum gross vehicle weight of 140 kg. It features a rear rack with a capacity of up to 27 kg and a front rack that can handle up to 20 kg.
DOUZE Factory SAS, a French company specializing in cargo bike design and manufacturing, revealed a collaboration with Toyota on March 8, 2023. Together, they will co-develop and launch a new lineup of electric cargo bikes.
On November 3, 2022, Yuba Bikes from California introduced their popular non-motorized ‘longtail’ bicycles. These bikes have an extended deck for carrying cargo or passengers. Yuba expanded its cargo bike range with the new Fastrack model, featuring a patent-pending integrated Dual Rack System that can be adjusted in four ways to accommodate different cargo or passengers.

Archives, Global Trade Daily, Market insight

Wealth Management Platform Market is Projected to Surpass USD 10 Bn By 2032

June 9th, 2023 Global Market Insights Leave a comment

The wealth management platform market is set to grow from its current market value of more than $3 billion to over $10 billion by 2032; as reported in the latest study by Global Market Insights, Inc.

Wealth Management Platform Market is expected to exhibit massive growth during 2023-2032 owing to the emergence of innovative technologies including AI and blockchains. These advancements have been assisting key players in revolutionizing new operating models to offer credits to several individuals and businesses. The data-driven AI wealth management platform is also slated to speed up the digital investment process, augmenting market expansion.

In addition, several initiatives taken by the government and regulations to escalate the use of wealth management platforms will drive industry growth by 2032. Besides, increasing government inclination towards credit seekers to increase the financial inclusion of people will spur the industry expansion.

Overall, the wealth management platform market is segmented in terms of advisory mode, deployment model, application, end-use, and region.

Based on advisory mode, the human advisory segment held more than 60% market share in 2022 and is projected to exhibit massive growth through 2032. The growth can be attributed to the wealth management sector’s growing security concerns, encouraging HNWIs (high-net-worth individuals) to turn to human advisory services.

By deployment model, the cloud-based wealth management systems are expected to depict commendable CAGR through the forecast timeframe. Cloud-based wealth management systems are gaining strong traction among finance-based enterprises owing to their benefits including easier setup, flexibility required for remote work, and lower investment in infrastructure. The cost-effectiveness and scalability offered by the cloud platforms will further support segment expansion in the future.

On the basis of application, the performance management segment will grow significantly as the system helps align the employees with the corporate goals. Performance management tools enable firms to perform fair, periodic inspections while expediting the performance management process, which will further aid the segment in future growth.

Considering the end-use, the investment management firms segment accounted for more than 25% market share in 2022 and is expected to demonstrate sturdy growth owing to the rising number of high-net-worth individuals along with small business owners. Besides, the wealth management platform assists investment management firms in planning new policies, attracting new investments, and obtaining insights as per clients’ requirements.

In the regional context, the Asia Pacific wealth management platform market is anticipated to register notable gains through the estimated timeframe. The growth can be accredited to the constantly increasing digital transformation of the financial institutions in the region. In addition, consulting companies in APAC are collaborating with wealth management software providers to focus on the rising digital transformation of financial institutions, which will boost wealth management platform penetration in the region.

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Passenger Car Price in UK Increases to $36,155 per Unit

May 30th, 2023 IndexBox Leave a comment

United Kingdom Passenger Car Import Price in February 2023

In February 2023, the passenger car price stood at $36,155 per unit (CIF, United Kingdom), rising by 8.9% against the previous month. In general, import price indicated a moderate increase from February 2022 to February 2023: its price increased at an average monthly rate of +2.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, passenger car import price decreased by -3.1% against December 2022 indices. The most prominent rate of growth was recorded in March 2022 when the average import price increased by 31% month-to-month. As a result, import price reached the peak level of $37.5M per thousand units. From April 2022 to February 2023, the average import prices failed to regain momentum. \

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($36,135 per unit), while the price for Japan ($18,073 per unit) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

United Kingdom Passenger Car Imports

In February 2023, overseas purchases of passenger cars increased by 28% to 129K units for the first time since November 2022, thus ending a two-month declining trend. In general, imports, however, saw a pronounced setback. The growth pace was the most rapid in November 2022 when imports increased by 66% m-o-m. Over the period under review, imports hit record highs at 174K units in February 2022; however, from March 2022 to February 2023, imports remained at a lower figure.

In value terms, passenger car imports surged to $4.7B (IndexBox estimates) in February 2023. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 with an increase of 52% against the previous month. Imports peaked at 5.3B units in March 2022; however, from April 2022 to February 2023, imports stood at a somewhat lower figure.

United Kingdom Passenger Car Imports by Country

China (24K units), Spain (21K units) and the Czech Republic (12K units) were the main suppliers of passenger car imports to the UK, together accounting for 45% of total imports.

From February 2022 to February 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to the UK were China ($596M), Spain ($450M) and Slovakia ($366M), with a combined 30% share of total imports. These countries were followed by the Czech Republic, South Korea, Japan, Hungary, Belgium, Romania, Turkey, Mexico, the United States and Portugal, which together accounted for a further 31%.

Among the main suppliers, Mexico, with a CAGR of +5.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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