Global Robotics Software Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

The Global Robotics Software Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and is expected to reach approximately US$ 15 billion by 2028.

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Key Growth Drivers

• The investment in various countries by the governments and the high adoption of Robotics Software in various end-user industries is positively impacting the market growth.
• Developed markets such as European regions and developing markets such as the Asia-Pacific region are witnessing huge investments by start-ups, and existing large players and governments which are driving the market growth.
• Concerns about data privacy and malware attacks along with the high costs associated with the implementation of industrial robots and robotics software are factors that act as constraints for market growth.
• Increasing cyber-attacks and robot crimes are major hindrances to the market’s growth. These factors are still a major concern for some end-user industries which are worried by data theft and hence they are taking a cautious approach when it comes to the adoption of robotic software.
• The COVID-19 outbreak had a positive impact on the demand for Robotics Software as various companies installed robots to disinfect factory areas as well as it helped them to deliver food to their customers without risking any health-related issues during the pandemic for their employees.

Key Trends by Market Segment

By Software Type: The Recognition Software segment held the largest market share in the Global Robotics Software Market in 2021.

The recognition software in the robots enables them with cognitive ability. This software is integrated behind the robots and helps them to identify an object and give its response accordingly.

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By Robot Type: The Industrial Robots segment held the larger share of the Global Robotics Software Market in 2021.

• The significant growth in demand for industrial robots can be attributed to the fact that they can perform dangerous tasks repeatedly with more accuracy than human beings and have a longer life span to perform such tasks.
• These robots also help companies in achieving higher operational efficiency and lowering labor costs which are encouraging more and more organizations to install these robots.
• According to data provided by the International Federation of Robotics, a total of 3.5 million industrial robots have been installed worldwide by 2021 with a growth rate of 15% from 2020 and a CAGR of 14% for the five-year period 2016-2021.

By Deployment Mode: The On-Demand segment held the larger share of the Global Robotics Software Market in 2021.

• The on-demand deployment mode or the cloud-based deployment mode is more adopted because it is a cost-effective method by which the companies are able to save a lot of costs related to data, personnel, software, hardware, and maintenance.

By Enterprise Size: The Large Enterprises segment held the larger share of the Global Robotics Software Market in 2021.

• The covid-19 pandemic made a lot of large enterprises make changes in their manufacturing facilities and deployed automated robots to mitigate any such risks in the future. Also, as the investment costs are a bit high so large enterprises have been quicker to adapt to such models faster than their small and medium enterprise counterparts.

By End-user: The Manufacturing segment held the larger share of the Global Robotics Software Market in 2021.

• The rising need for the adoption of automation, shortage of labor for factories, and robot simulation software that is making robotic automation a feasible option for the sector aided by the necessity to complete repetitive hazardous tasks more accurately & safely are the major factors for this segment to dominate the market.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total Global Robotics Software Market.

• Asia-Pacific region has some established manufacturing markets in countries such as China, Japan, and South Korea. These countries have been very bullish on innovating and modernizing their existing manufacturing facilities which have seen the large-scale installation of industrial robots.

The region is also seeing increasing investments by the governments and many start-ups in robotics software of some countries such as China, India, and Thailand which is going to help the region maintain its dominant position during the forecast period.

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Competitive Landscape

The Global Robotics Software Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Approximately, the large global players constitute 5%, the regional players 35%, and country-niche players 60% of the market by type of companies operating in the market. Some of the major players in the market include ABB Ltd., Clearpath Robotics, NVIDIA Corporation, CloudMinds Technology, Inc., Liquid Robotics, Inc., Brain Corporation, AIBrain, Inc., Furhat Corporation, Neurala, Inc. and IBM Corporation among others.

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Recent Developments Related to Major and Emerging Companies

• In December 2020, ABB launched its Wizard Easy Programming software for industrial robots which does not require any special programming skills and rapid code knowledge. With this software, a robot can be made up and running within a few minutes and it allows error handling such as collisions which can be even managed by an amateur programmer.
• In March 2022, Nvidia Corp. launched the Nvidia Jetson AGX Orin developer kit. This is an artificial intelligence supercomputer that is compact, energy-efficient, and targeted towards power autonomous machines and robots. These also help robots to identify, avoid and navigate through obstacles that a robot finds in their pathway.
• In November 2022, Brain Corp launched the next generation BrainOS® autonomy platform for autonomous commercial robots. The company has partnered with Flex to deploy its new robotic solutions with an initial focus on retail sector and later rolling out the same to the other commercial sectors.

Conclusion

The Global Robotics Software Market is forecasted to continue a strong growth that is witnessed during the forecast period. Key trends driving market expansion include demand from end-user industries, growing installation of industrial robots for manufacturing set-ups, adoption of emerging technologies such as the Industrial Internet of Things (IIoT), and growing investments by countries as well as start-ups. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Robotics Software Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions’ Robotics Software Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Software Type	Recognition Software Simulation Software Predictive Maintenance Software Data Management and Analysis Software Communication Management Software
By Robot Type	Industrial Robots Service Robots
By Deployment Mode	On-Premise On-Demand
By Enterprise Size	Small and Medium Enterprises Large Enterprises
By End User	Automotive Retail and E-commerce Government and Defense Healthcare Transportation and Logistics Manufacturing IT and Telecommunications Others
By Geography	North America (USA, Canada, and Mexico) Europe (Germany, UK, France, Spain, and Italy) Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia) LAMEA (Latin America, Middle East, and Africa)
Key Players	ABB Ltd. Clearpath Robotics NVIDIA Corporation CloudMinds Technology, Inc. Liquid Robotics, Inc. Brain Corporation AIBrain, Inc. Furhat Corporation Neurala, Inc. IBM Corporation

 

Increased usage of online platforms and technologies in auto financing are some of the key trends in Thailand’s Auto Finance Market: Ken Research

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Government investment and growth in online retail and logistics created a greater demand for commercial vehicles in the country, where the Auto finance market of Thailand has seen some major growth in the share of commercial vehicles post covid-19.

Decline in Growth Rate: Since people purchasing power decreased due to the epidemic, there has been a dip in the market for new and used cars, which has negatively impacted Thailand's auto finance industry. Due to the COVID-19 pandemic, vehicle loans have been disrupted for a number of reasons, including a decrease in the number of chips required for mass-produced automobiles. The fact that a new car was a depreciating asset made the purchase seem less significant. Moreover, Thailand's major cities provide affordable, quick public transportation.

Post-Covid Recovery, Road Expansion, and Development: Sales in the automotive sector were impacted by COVID-19 and the work-from-home culture. However, as offices reopen and business activity picks up in the nation in 2022, sales start to increase. Private vehicle demand in the nation increased as a result of road construction and infrastructure expansion. Increased automobile sales in the nation are also a result of the people's improved economic situation. Good economic conditions and rising consumer spending power made new automobiles more affordable for more people, which fueled the country's auto market's expansion.

Automotive Policy in Thailand: Thailand has supported EVs by lowering import tariffs on EV vehicles ranging from 0 to 40% until 2023, depending on the size of the engine. The Thai government adopted a set of incentives, including tax breaks and subsidies, to encourage the use and production of electric vehicles (EVs) between 2022 and 2023.

Confusing and time-consuming terms and conditions: For a salesman and customer to successfully complete an average vehicle loan application in Thailand, a significant amount of paperwork is frequently needed. Consumers frequently perceive the conditions of their auto finance to be complicated and time-consuming since they have trouble understanding loan elements during loan discussions. The greatest barriers to poverty and inconsistent income are found in rural Thailand. The monthly budget may be stretched by making monthly auto finance payments.

Analysts at Ken Research in their latest publication “Thailand Auto Finance Market Outlook to 2026F- Driven by Road Infrastructure Development and Economic Growth in the Country” observed that the Auto Finance market is an emergent market in Vietnam at a rebounding stage from the economic crisis after the pandemic. The immense infrastructural development projects in the country, partnerships, and mergers with other banks along with the adoption of digitalization are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.4% CAGR during 2021-2026F owing to the increasing purchasing power of consumers, adoption of EVs, and new government policies.

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Key Segments Covered

Thailand Auto Finance:

• By Type of Vehicle financed
  • New cars
  • Used cars
  • Motorcycles
• By Distribution channels:
  • Banks & Subsidiaries
  • NBFC's
  • Captives
• By Type of Financing:
• Passenger Vehicles
• Commercial Vehicles.
• By purpose type:
• Loans
• Lease

By Tenure of the loans:

• 1 year
• 2 years
• 3 years
• 4 years
• 5 years and above.

Key Target Audience

• Banks and their Subsidiaries
• NBFCs
• Captive Finance Companies
• Government and Institutions
• Automobile Companies
• Car Dealers
• Government and Institutions
• Existing Car Finance Companies
• OEM Dealerships
• New Market Entrants
• Investors
• Automobile Associations

Time Period Captured in the Report:

• Historical Year: 2016-2021
• Base Year: 2021
• Forecast Period: 2021– 2026F

Companies Covered:

• Banks and Subsidiaries
• TMBThanachart Bank
• Ayudhya Bank
• Siam Commercial Bank
• TISCO Bank
• Kiatnakin Bank
• Kasikorn Bank
• Others (Including ICBC Bank, Citi Bank, Bangkok Bank, and Krungthuri Bank)

Captives

• Toyota Leasing Thailand
• Honda leasing
• Mercedes-Benz leasing
• BMW Financial Services
• Others

NBFC's

• Muangthai Capital
• Asia Sermkij Leasing Nakhon Luang Capital Limited
• Thitikorn
• Summit Capital
• Group Lease
• Aeon Thana Sinsap
• G Capital Public Limited
• Others (Thai Ace Capital, SGF Capital, JMT Network, Phatra Leasing Company, Mitsib Leasing)

Key Topics Covered in the Report

• Thailand Automotive Market Overview
• Thailand Automotive Finance Market Overview
• Ecosystem of Thailand Auto Finance Market
• Business Cycle and Timeline of Thailand Auto Finance Market
• Thailand Auto Finance Value Chain Analysis
• Market Sizing Analysis of Thailand Auto Finance Market, 2016-2021
• Thailand Auto Finance Market Segmentation (By Type of Vehicle Financed, By Distribution Channel, By Tenure Loan, By Purpose Type, By Type of Motor Vehicle), 2021
• SWOT Analysis of Thailand Auto Finance Industry
• Trends and Developments in Thailand Auto Finance Industry
• Decision Making Parameters for Selecting Car Loan Vendor
• Issues and Challenges in Thailand Auto Finance Industry
• Growth Drivers of Thailand Auto Finance Market
• Government Regulators and Initiatives in Thailand Auto finance Industry
• Competition Framework for Thailand Auto Finance
• COVID-19 Impact on Thailand Auto Finance Market
• Future Outlook and Projections of Auto Finance Market in Thailand, 2021-2026F
• Market Opportunities and Analyst Recommendations

For More Information on the research report, refer to below link: –

Thailand Auto Finance Market

Related Reports by Ken Research: –

Singapore Auto Finance Market Outlook to 2025

Egypt Car Finance Market Outlook to 2021

Philippines Auto Finance Market Outlook to 2024

Global Enzymes Market is expected to reach approximately US$ 16 billion by 2028: Ken Research

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Global Enzymes Market is expected to record a positive CAGR of over 6% during the forecast period (2022-2028) and is expected to reach approximately US$ 16 billion by 2028, due to an increase in technological advancements for the manufacturing of enzymes along with the growing demand for enzymes in various industries including food and beverages, bioenergy, animal feed, pharmaceuticals, and others. The ongoing Covid-19 pandemic has benefited the enzymes industry due to a surge in nutritional and immunity-boosting products which has directly increased the demand for enzymes.

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• The growing demand for enzymes for the treatment of various diseases including cardiovascular diseases, cancer, and others along with the increasing prevalence of cardiovascular diseases and increase in the geriatric population is expected to augment the growth of the market. In 2022, according to the Centers for Disease Control and Prevention (CDC), one person dies every 34 seconds from cardiovascular diseases in the U.S. It was reported that 697,000 people died from heart disease in the year 2020.
• The rising research and development of enzymes for the production of biofuel are likely to create immense opportunities for the growth of the enzymes market in the forthcoming years. In August 2020, according to Technology Networks, researchers at the Brazilian Center for Research in Energy and Materials (CNPEM) genetically engineered low-cost enzyme cocktails from a fungus that helped break down the carbohydrates in biomass, like sugarcane (tops and leaves) and bagasse into fermentable sugar. The low-cost enzyme cocktails can be used efficiently to produce biofuels from sugarcane residues.
• The lack of standard regulatory policies on enzymes is the most significant barrier to the growth of the enzymes industry globally. In March 2021, according to The European Parliament, there are over 250 technical enzymes which are produced from genetically-modified organisms and most of them are permitted in Europe. However, no relevant, independent, or well-founded studies have been done on their effects on health, which led to a lack of mandatory labeling of technical enzymes in the food processing industry.
• During the initial period of COVID-19 pandemic, the disrupted supply chains have affected the production capacity, demand, and supply of the enzymes but post 2021 the demand for enzymes increased owing to rising health awareness among consumers which has boosted the demand for immunity-enhancing products. In August 2021, Advanced Enzymes Technologies entered the e-commerce space in India with its immune-supporting brands- ImmunoSEB and Biome Ultra, which comprised systematic enzymes and probiotics. These products help enhance immunity and are effective in reducing ‘long Covid afflictions.

Key Trends by Market Segment:

By Product Type:  Industrial enzymes segment held the largest share of the global enzymes market in 2021, owing to the growing demand for enzymes for the manufacturing of various products including detergents, food and beverages, textile, biofuels, paper & pulp, and others. Moreover, the increase in the use of detergents in household and industrial applications has enabled manufacturers to launch new products in the market.

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• In September 2021, Novozymes A/S launched a phosphodiesterase enzyme named Pristine, a biodegradable and natural ingredient for detergent. This enzyme helps tackle the problem of malodor and discoloration. It breaks down the layer of body grime and releases odor and dirt. The launch aims to expand the company’s product portfolio.

By Source: The microorganism segment accounts for the majority share of the global enzymes market in 2021, due to its low production cost as well as easy availability of the source. In addition, the microorganism-based enzymes can be cultivated in large quantities in a short period which gives an added advantage in the enzyme production process. The increase in research and development on the production of enzymes from microorganisms is expected to fuel the growth of the market.

• According to the National Center for Biotechnology Information, the demand for enzymes is increasing rapidly in various industries including agriculture, food, chemicals, pharmaceuticals, and others, and microbial enzymes have gained interest due to their catalytic activity, stability, and ease of production and optimization in comparison to other plant and animal enzymes.

By Type: The carbohydrase segment accounts for the majority share of the global enzymes market owing to the surge in the demand for carbohydrases such as cellulose and amylases in various industrial applications including textile, pulp & paper, food and beverages industry, and others. In addition, carbohydrase has great potential in improving feed energy which has increased its demand in the feed industry. The aforementioned factors are expected to propel the growth of the market.

• A research study published in June 2021 shared that according to Elsevier B.V., supplementation of multi-carbohydrase in poultry diet can help improve nutrient digestibility, energy and protein utilization, and growth rates.

By Applications: Food and Beverages segment accounts for the largest share in 2021 of the global enzymes market owing to the growing demand for enzymes to modify the properties of food and beverage products including bread, juices, wine, beer, dairy products, and others. Enzymes are widely used in the formulation of fruit juices as it helps improve the quality by clarifying fruit juices and in the dairy industry to improve the taste, texture, and quality of dairy products.

The increasing demand for enzymes in the food and beverages industry has enabled manufacturers to cater to the rising demand by launching new and better products in the market.

• In June 2021, IFF launched an all-in-one enzyme solution called Nurica, which helps dairy manufacturers to produce high-fiber, low sugar, and lactose-free dairy products. It harnesses the lactose to generate a high yield of prebiotic galactooligosaccharides (GOS) fibers naturally. The company aimed to offer an enzyme for the dairy industry which helps maintain the quality of the products while fulfilling the demand for lactose-free products of consumers.

By Geography: The North America region accounted for the largest share in 2021 of the global enzymes market owing to the presence of a large number of end-use industries including personal care & cosmetics, food and beverages, pharmaceutical, laundry detergent, and other industries. In addition, an increase in strategic initiatives such as partnerships by enzyme manufacturers to grow the enzyme business is expected to fuel the growth of the market.

• In June 2022, Enzyme Innovation partnered with Sumitomo Chemical America to sell their line of animal feed enzymes and probiotics in the U.S. The partnership aimed to offer its product line to livestock and poultry producers in the U.S.

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Competitive Landscape

• The enzymes market is highly competitive with ~150 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in enzymes.
• Large global players control over 40% of the market, while regional players hold the second largest share. Some of the major players in the market include BASF SE, Novozymes A/S, IFF, DSM,  Codexis, Inc.,  Merck KGaA, Chr. Hansen Holding A/S, Advanced Enzyme Technologies, AB Enzymes, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Creative Enzymes, and among others.
• The leading global enzymes companies such as Novozymes A/S, IFF, and F. Hoffmann-La Roche Ltd, are highly focused on providing a broad category of enzymes suitable for various end-use industries.

Recent Developments Related to Major Players

• In July 2022, Codexis, Inc., an enzyme engineering company, announced an agreement with Pfizer for the supply of an enzyme called PAXLOVID, an active pharmaceutical ingredient, authorized for emergency use by the U.S. Food and Drug Administration (FDA). It is used for the treatment of mild-to-moderate COVID-19 in patients who are at high risk of developing severe illness.
• In January 2022, BASF SE expanded the production capacity for its feed enzyme plant in Germany. The larger production capacity enabled the company to increase the annual number of feasible fermentation runs and fulfill the growing demand for high-quality enzymes.
• In July 2021, Unilever partnered with Arzeda, a protein design company to harness its digital biology technique to design and discover new enzymes for the cleaning and laundry industry. The partnership aimed to enhance the company’s product portfolio.

Conclusion

The Global enzymes market is forecasted to continue a significant growth that is witnessed since 2020, during the forecast period also, primarily driven by rising demand for the growing use of enzymes in various industries including food and beverages, animal feed, pharmaceuticals, diagnostics, and others. Moreover, technological advancement in the production process and increased awareness regarding environmental issues are expected to escalate the growth of the market. Though the market is highly competitive with about 150 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and the report delivered within a maximum of 2 working weeks.

Market Taxonomy

Ken Research has recently published report title Global Enzymes Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by product type, source, type, and applications. In addition, the report also covers market size and forecasts for the four region's enzymes market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product Type

• Industrial enzymes
• Specialty enzymes

By Source

• Microorganism
• Plant
• Animal

By Type

• Carbohydrase
• Proteases
• Lipases
• Polymerases & Nucleases
• Other Enzymes

By Applications

• Food & Beverages
• Animal Feed
• Cleaning Products
• Biofuel
• Research & Biotechnology
• Diagnostic
• Pharmaceuticals
• Others

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • The Middle East
  • Africa

Global Printed Signage Market is expected to reach revenue US$ 50 Billion by 2028: Ken Research

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The Global Printed Signage Market is expected to witness a CAGR of ~5% during the forecast period (2022-2028) and reach ~US$ 50 Bn by 2028, owing to its cost-effectiveness compared to digital signages. This helps the small enterprises to proactively utilize printed signage as part of their marketing activities which is likely to further drive the usage of printed signages in many industries. Printed signage is a widely used form of signage solution. It is used to advertise products, provide information, attract customers and increase their knowledge about the products through billboards, banners backlit displays, etc. The ease of usage and deployment of printed signages without any operational and maintenance cost and longer lifespan is encouraging businesses and companies to adopt these solutions.

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• The low cost of deploying printed signage and its increasing usage across shopping malls and retail stores is likely to drive the printed signage market. According to UK Advertising Association Report 2021, UK advertisement spending increased by 24.8%, yielding the highest yearly increase on record with the use of printed signages.
• The printed signage market faces a greater challenge from the digital signage solutions that provide a long-term return on investment, hence restraining the market growth of printed signages. Furthermore, digital signage is more versatile as it can display various information without needing to be replaced. According to Screen Fluency 2021 statistics, 74% of US customers get influenced by digital signage and enter stores they have never visited, and 42% of sales come from online, mobile, and social commerce sites.

• Lockdown induced by the governments across the globe due to Covid-19 has disrupted the supply chain and manufacturing operation worldwide. The printed signage market had a mixed impact due to the changes in demand from various end-user industries. The outbreak of the Covid-19 pandemic resulted in a reduction in travel worldwide. This harmed the transportation and logistics industry, thus restricting the usage of outdoor printed signage. However, end users, such as healthcare, witnessed increased demand to make signages related to COVID-19 precautions.
• In 2020 Caldron Graphics, an Indian provider of significant format inkjet printing technologies for indoor signages faced severe supply chain disruption as the several types of machinery imported from China resulted in decreased levels of production.

Key Trends by Market Segment

By Product Type: Banner and Backdrop segment holds the largest market share in 2021 of the Global Printed Signage market according to Ken Research’s analysis.

• Banner is one of the easiest adaptable signage and easy to install. There are several types of banners; vinyl banners, mesh banners, fabric banners, canvas banners, and others that are widely used across multiple application areas in retail, BFSI, automotive, event management, and travel industries.
• Backdrops are majorly used during sporting, entertainment, and commercial events owing to the light weight of vinyl fabric backdrops, it is easy to set them up on the ground.
• Billboard holds the second largest market share. Billboards are massive advertising structures used for product branding and promotion. Due to its enormous size, it is used mostly for outdoor advertising formats. They are placed in high-traffic locations, where advertisers use them to catch customer attention.

By Print Technology: The inkjet segment held the largest market share in 2021, owing to its ability to offer attractive designs.

• For signs, banners, displays, and home decor, inkjet technology offers appealing design advantages, including the capacity to print on a wide range of substrates, including vinyl, paper, and polyester.
• Sheetfed segment is expected to witness significant growth during the forecasted period, owing increase in investment by vendors on a sheetfed press.
• In Aug 2021, Yintong Corporation signed up for the purchase of 56 multicolor RMGT 920 series sheetfed presses at China Print to be delivered and installed over the next three years. The deal for all these 56 presses was signed at China Print 2021 by Yintong with RMGT’s Chinese distributor, Beijing Jia He Ding Xin Technology & Business known as Dinga.

By Application Type: Outdoor segment is expected to dominate the global printed signage market over the forecast period (2022-2030).

• The growth of the outdoor segment is mainly attributed owing to the growing popularity of outdoor advertising and its reach to a larger audience.
• The indoor segment is estimated to hold the second largest market share as it has brand recognition and client trust which has benefitted businesses worldwide. Point-of-purchase displays, indoor banners, backlit displays, and corporate graphics are examples of various types of indoor signage.

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By End User Segment: The retail segment is expected to hold the largest market share in the global Printed Signage over the forecast period (2022-2030).

• The retail sector’s focus on expansion and investment in advertising and marketing is propelling the growth of printed signage in the retail segment.
• Retail signage can range from backgrounds, banners, and pop-up displays to graphics and posters. Retail signage comes in a variety of forms, including both inside and external signs.
• Interior retail signage is focused on getting a customer to make a purchase and direct them to the location in the stores whereas exterior retail signage is used for creating invitations. In Great Britain, the volume of retail sales rose by 5.1% in 2021, which is the strongest since 2004.

By Region: the Asia Pacific is expected to dominate the global printed signage market during the forecasted period owing to the presence of a greater number of manufacturers and an increase in the innovation of signage printers with advanced technology and sophisticated designs.

• Higher penetration of retail sectors with investment in advertisement and marketing is the key factor for higher sales of printed signage in the region. The launch of new products owing to continuous innovation is likely to drive market growth. In April 2021, Colorje announced the launch of SoniQ I, a new signage printer that expanded the company's signage printer lineup. The SoniQ I is a low-investment, high-value signage printer that offers flexible printing at high speeds.
• In addition, according to the Malaysian Advertisement Association, out-of-home (OOH) spending is continuously rising and is expected to account for 19% of all advertising spending in 2021.
• Europe is expected to be the fastest growing region in the global printed signage market, owing to increasing spending of the retail sector on advertising and marketing.
• In April 2021, Schweiter Technologies expanded its 3A Composites core materials business in Poland with the addition of Polyethylene Terephthalate foam production.
• In April 2022, Orafol Group invested approx. USD 160 million to expand the production facilities in Bradenburg, to cater to the increase in demand for manufacturing products for the graphics industry, high-performance film, and industrial adhesive tapes.

Competitive Landscape

The Global Printed Signage market is highly fragmented with over 1000 players including globally diversified players, regional players as well as a large number of country-niche players having their niche in printing, advertisement, and marketing.

Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the second largest share. Some of the major players in the market include Avery Dennison Corporation, Spandex Ltd., IGEPA Group GmbH & Co. KG, Orafol Europe GmbH, Identity Group, Lintec Corporation, 3A Composites Holding AG, Signs Express, Ehko Sign Industries KFT, Mactac LLC, Kelly Signs and Graphics, L&H Sign Company Inc., and among others.

Recent Developments Related to Major Players

• In April 2022, 3A Composites strengthen its product portfolio in the Display business by becoming a 25% shareholder of Swedboard International AB via a direct capital increase.
• In March 2022, Avery Dennison Corporation acquired the Linerless label technology developed by Catchpoint Ltd, a UK company based in Yorkshire, England. The deal includes the trade secrets, brand, patents, and know-how of Catchpoint.
• In Aug 2021, ORAFOL Group acquired NUPRO Advanced TPU Films in South Deerfield, Massachusetts, United States. This partnership is likely to accelerate the growth of both companies by expanding production operations.
• In May 2021, Spandex expanded its portfolio of films with a new collection of ImagePerfect decorative privacy glass films for application on interior and exterior windows, doors, and partitions.

Conclusion

The Global Printed Signage Market is forecasted to continue the growth that is witnessed since 2017, during the forecast period also, primarily driven by the ease of deployment of printed signages without any maintenance cost and longer lifespan. Though the market is highly competitive with over 1000 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Market Taxonomy

Ken Research has recently published report a titled Global Printed Signage Market Size, Segments, Outlook and Revenue Forecast 2022-2028 is segmented by Product Type, By Print Technology, By Application, By End Users. In addition, the report also covers market size and forecasts for the four major regions of the printed signage market. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Product Type

• Banner and Backdrop
• Corporate Graphics, Exhibition, and Trade Shows
• Backlit Displays
• Point of Purchase Display
• Billboards
• Others (Kiosk, Flags, Vehicles/Fleet Graphics)

By Print Technology

• Screen
• Inkjet
• Sheetfed
• Others (Offset Lithography, Dye Sublimation, Toner)

By Application Type

• Indoor
• Outdoor

By End User Segment

• Banking, Financial Services, and Insurance
• Retail
• Transportation and Logistics
• Healthcare
• Sports and Entertainment
• Other End Users

By Region

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy)
• Asia Pacific (China, Japan, South Korea, India, Indonesia, Australis)
• Latin America, Middle East, and Africa (LAMEA)

Global Polyurethane Market is expected to reach a revenue of US$ 100 Bn by 2028: Ken Research

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The Global Polyurethane Market is expected to record a positive CAGR of ~5% during the forecast period 2022-2028, and reach a revenue of US$ 100 Bn by 2028. Polyurethane demand is anticipated to increase throughout the forecast period due to rising building insulation demand brought on by environmental concerns. The chemistry of polyurethane enables for the creation of products in odd shapes without sacrificing quality, and it also improves industrial and consumer goods by incorporating comfort and convenience values.

The construction, electronics, and automotive industries are seeing an increase in customer demand for sturdy, lightweight products. PU Raw Materials for insulation are also contributing to this growth. The demand for polyurethane is expected to rise throughout the projection period as building insulation demand rises as a result of environmental concerns. Apart from meeting sustainability needs in the building construction market, Polyurethane materials are employed in a wide range of consumer items as well.

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• Due to the material's availability in a variety of forms, including rigid, flexible, coatings, adhesives, sealants, and elastomers, polyurethane sells through a network of well-established end markets. Another factor contributing to the possibility of continued market expansion is the consumer market's interest in sustainability.
• Environmental awareness has accelerated manufacturers' move to raw materials and production techniques that are viewed as eco-friendlier and more sustainable than alternatives, which is influencing consumers' changing purchasing habits.
• The main user of polyurethane foam is the building and construction sector. Industry numbers made available by Oxford Economics suggest that global construction production would increase by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion from US$10.7 trillion in 2020 (in 2017 prices and exchange rates). For the interim period, it is anticipated that worldwide construction output will increase by US$2.6 trillion in the five years starting in 2020, reaching US$13.3 trillion by 2025.
• Polyurethane is in demand from a variety of end-users including material suppliers, converters, and OEMs. However, the market is frequently constrained by problems such as shortage of raw materials, and high operational expenses.
• The global construction sector is positioned to be a catalyst for COVID recovery and economic growth. The pace attained by the sector during the post-covid recovery phase helped boost the market of PU products. Many significant suppliers, along with emerging companies and startups, started delivering bio-based/recycled alternatives for Polyurethane feedstock.

Key Trends by Market Segment

By Product: Rigid Foam segment holds the largest share of the Global Polyurethane Market in 2021 due to its durability, energy savings, moisture management, and insulating characteristics.

• Polyether or polyester polyols can be used to create flexible polyurethane foam slab stock. They have porous constructions, smaller bulk densities, and larger sag factors. Major application areas of flexible polyurethane foams are mattresses, acoustic dampers, and seat cushions.
• Foams made of rigid polyurethane are dense and contain a lot of closed cells. Closed-cell foams make it difficult for air to escape from the foam. As a result, the foam has better water resistance, lower thermal conductivity, and stronger load-bearing capacity. Rigid polyurethane foams are thus suited as building and insulation materials. Along with lamination and spraying, rigid polyurethane foams can also be produced using slab stock and molding methods.
• About 30% of the North American polyurethane market is made up of Flexible Polyurethane Foam.
• According to the U.S. Department of Energy 2021, heating and cooling occupied the majority of a typical U.S. Home's Energy use, around 56% of total energy consumption, building contractors use rigid polyurethane and polyisocyanurate foam to maintain a consistent temperature and reduce noise levels in residential and commercial structures. These foams are good insulation materials that can be used for air barrier sealants, insulated windows, doors, and roof and wall insulation.
• Demand for polyurethane products is increasing as building and construction activity increases globally in various regions.

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By Raw Material: The polyol segment is likely to hold the highest market share during the forecast period in Global Polyurethane Market.

• When the required polyurethane is going to be used to create flexible foams or thermoset elastomers, various polyether polyols, such as polyethylene glycol, polypropylene glycol, and polytetramethylene glycol, are generally used.
• The major product that TDI produces is flexible polyurethane foam, which is utilized in a variety of common items like furniture, bedding, carpet underlay, and packaging. Some paints, sealants, adhesives, and elastomers are also made using TDI. TDI aids in the production of lighter car seats and headliners, reducing weight and increasing fuel efficiency.
• MDI is generally utilized to create hard polyurethane foams for a variety of applications, including refrigerator and housing insulation. MDI insulation helps reduce energy consumption and heating and cooling expenses. MDI is also used to make car parts including dashboards, steering wheels, and bumpers.
• Many household goods are made with TDI and MDI. They are combined to create different varieties of polyurethane. These polyurethanes are used to produce a variety of goods, such as carpet padding, waterproof sealants, and foam for furniture cushions.

By End Users: The Building and Construction segment holds the largest market share in the Global Polyurethane Market in 2021 as high-performance items that operate well, are robust but lightweight, durable, and versatile are made with polyurethanes.

Polyurethane is commonly used in building and construction Raw Materials due to its great strength-to-weight ratio, insulating characteristics, durability, and adaptability.

• The global construction industry generated US$10.7 trillion in output in 2020, and Oxford Economics projects that it will increase by 42%, or by US$4.5 trillion, between 2020 and 2030 to reach US$15.2 trillion by 2030.
• There are several Raw Materials for PU materials in the automobile sector. It can be utilized in car bodywork, bumpers, doors, windows, and ceiling parts in addition to its typical use as foam to make car seats more pleasant. Reduced weight, improved fuel efficiency, strong insulation with optimum sound absorption, excellent passenger comfort, and high corrosion resistance features of Polyurethane - all contribute to higher automotive mileage.

By Geography: The Asia Pacific accounts for the largest share among all Regions within the total Global Polyurethane market in 2021.

• China is investing trillions of USD in infrastructure, a stimulus that may help the second-largest economy in the world far beyond the doom of Covid lockdowns and volatile real estate markets in 2022.
• The government of Beijing, China will release 6.8 trillion yuan (about US$1 trillion) for construction projects in 2022, which is expected to stimulate the growth of the polyurethane industry shortly.

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Competitive Landscape

• The Polyurethane market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players. Most of the country-niche players are providers of foam-based products and suppliers of raw materials.
• Large global players control about 40% of the market, while regional players hold the second largest share. Some of the major players in the market include BASF, The Dow Chemical Company, Convestro AG, Yantai Wanhua Polyurethanes Co. Ltd., Huntsman, Mitsui Chemicals and SKC Polyurethanes, Inoac Corporation, Rogers Corporation, Tosoh Corporation, Saint- Goblin SA and among others.
• The leading global specialist companies such as Foamcraft Inc and Laxness are highly focused on providing a significant number of polyurethane products that can be used across multiple industries, including furniture, building and constriction, and many more.

Recent Developments Related to Major Players

• In January 2020, BASF announced a single-digit million euro investment in the capacity expansion of water-based polyurethane dispersions at its Castellbisbal location in Spain. BASF has also been investing in the development of the polyurethane dispersion business in Europe. BASF's production capacity will rise by 30% as a result of the expansion.
• To fulfil the growing demand for Polyurethane Dispersions (PUDs) and elastomers, materials firm Covestro started construction on two new factories in Shanghai in July 2022. These new facilities will be situated within the Covestro Integrated Site Shanghai and represent a combined investment of mid-double-digit million euros. The largest Covestro production location now has a larger footprint, thanks to new plants.
• In July 20, 2022, Huntsman Corporation stated that a new methylene diphenyl diisocyanate (MDI) splitter at its Geismar plant in Louisiana has started operating in a commercial capacity. Huntsman can now generate more high-value, distinctive grades from the crude MDI produced at the facility thanks to the USD$180 million splitter, enabling expansion in important client applications
• Huntsman's footwear specialists assisted KEEN, Inc. (KEEN) in February 2022 in creating a revolutionary production innovation: a line of sneakers with plant-based soles. The Field to Foot (F2F) sneakers was designed by KEEN's Advanced Concepts Team using a specifically developed bio-based polyurethane system from Huntsman that contained agricultural processing by-products. The polyurethane system has a reduced carbon footprint than petroleum-based alternatives that are commercially available and are now the standard in the production of footwear since it has bio content ranging from 35% to 51%.

Conclusion

The Global Polyurethane Market is forecasted to continue at a steady growth rate that it has been witnessing since 2017, primarily driven by the unique physical characteristics of polyurethane, including versatility, strength-to-weight ratio, insulating capabilities, durability, and adaptability. Though the market is highly competitive with over 500 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Market Taxonomy

Ken Research has recently published report a titled Global Polyurethane Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by Product, Raw Material, and End User Industries. In addition, the report also covers market size and forecasts for the four region’s Polyurethane Markets. The revenue used to size and forecast the market for each segment is USD billion.

Scope of the Report

The Polyurethane Market is segmented by Product, Raw Material, and End User Industries. In addition, the report also covers market size and forecasts for the four region’s Polyurethane Markets. The revenue used to size and forecast the market for each segment is USD billion.

By Product

• Rigid Foam
• Flexible Foam
• Molded Foam
• Elastomers
• Adhesives & Sealants
• Coatings
• Others

By Raw Material

• Polyol
• Methylene Diphenyl Diisocyanate (MDI)
• Toluene Diisocyanate (TDI)
• Others

By End User

• Furniture & Interiors
• Mattresses/ Bedding
• Building and Construction
• Electronics and Appliances
• Automotive
• Footwear
• Packaging
• Others

By Geography

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, Africa)

The South Korea E-Commerce Logistics Market is growing owing to Growth in Online Shoppers along with Introduction of New Age Technologies by Logistics Players: Ken Research

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Focus on initiatives by the government, good logistics infrastructure and high spending potential of the consumers are major factor contributing towards development of E-Commerce Logistics Market in South Korea.

Increase in Internet and Online Buyer Base: Internet Penetration in South Korea has reached 93% in 2021 owing to high share of young population. Increasing usage of advanced mobile applications for the customers has made it easier for them to shop online, which further intensified the e-commerce logistics market in the South Korea.

3PLPs are in a booming growth stage: Korea makes full use of its advantages such as small land size, higher degree of logistics distribution socialization make Korean Third-Party Logistics in a booming growth stage. In terms of components of third-party logistics, in advanced countries the industry covers everything from order form handling to logistics information management and it enjoys a large service scope, such as price negotiation, circulation processing and so on.

All logistics are based on economies of scale: The growth engine of e-commerce logistics is inevitably developed in conjunction with e-commerce order volume. This is the background that led the development of logistics by e-commerce platform companies that extract huge orders by themselves. In addition, the density of e-commerce orders is also an important indicator of logistics efficiency. A high order density is essential to create a performance metric represented by order throughput per hour, and to achieve high density, you must increase the size of orders by region.

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Consumer’s privacy and Fraudulent purchases: Consumers privacy as they trust them with not only basic information like contact numbers and addresses but also bank details. The risks of data breach have increased as a result of e-commerce logistics. And fraudulent purchases or cash on delivery transactions increase online retailers' concerns because customers may reject their purchases, resulting in revenue loss for the companies.

Analysts at Ken Research in their latest publication South Korea E-commerce Logistics Industry Outlook to 2026F- Driven by Growth in Online Shoppers along with Introduction of New Age Technologies by Logistics Players by Ken Research observed that E-Commerce Logistic market is an emergent Logistic market in South Korea at a growing stage from the economic crisis after pandemic. The Merger, acquisition and key investment, increase in number of warehouses along with online shoppers buying behavior is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 4.7% CAGR during 2021-2026F owing to rising demand of same day delivery and favorable government regulations for South Korea e-commerce logistics market.

Key Segments Covered in the report: -

South Korea E-Commerce Logistics Market

By Delivery Period (By number of shipments in %), 2021 & 2026F

• Same Day
• 1 -2 Days
• 2-4 Days
• More than 4 days

By Volumetric Weight (By number of shipments in %), 2021 & 2026F

• KG
• 1-2 KG
• 2-5 KG
• 5-10 KG
• Greater than 10 KG

By Types of Shipment (By number of shipments in %), 2021 & 2026F

• Domestic Shipments
• International Shipments

By Delivery area (By number of shipments in %), 2021 & 2026F

• Intercity
• Interacity

By Mode of Shipment (By number of shipments in %), 2021 & 2026F

• Ground
• Air
• Water

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By Online Sales (By number of shipments in %), 2021 & 2026F

• Mobile
• Desktop

By Types of Company (By number of shipments in %), 2021 & 2026F

• 3PL
• Captive

By Type of Commerce (By number of shipments in %), 2021

• B2C Commerce
• B2B Commerce

By Modes of Payment (By number of shipments in %), 2021 & 2026F

• Prepaid (Credit Cards, etc.)
• Cash on Delivery (COD)

By Accepted & Returned Products (By number of shipments in %), 2021

• For Prepaid, Accepted Products
• For Prepaid, Returned Products

By Modes of Payment (By number of shipments in %), 2021 & 2026F

• E-wallet (Kakao pay, Naver Pay,Samsung Pay,Toss,Payco etc.)
• Local cards
• Bank transfer (direct & virtual)
• International Cards (VISA, Master, Amex, Union Pay)
• Cash on Delivery
• Other (phone carrier billing, e.g., SKT, KT, LG U+, etc.)

By Product Category (By number of shipments in %), 2021 & 2026F

• Food and Beverages products
• Food delivery
• Home appliances/electronics/communication devices
• Travel and transportation services
• Household goods
• Others

Key Target Audience

• E-Commerce Companies aiming to establish in USA
• USA E-Commerce logistics industries
• Government Bodies & Regulating Authorities
• E-Commerce Industry
• Logistics industry
• Shipping company
• Warehousing Companies
• E-Commerce users
• Industry Associations

Time Period Captured in the Report:

• Historical Period: 2018-2021
• Base Period: 2021
• Forecast Period: 2021-2026F

Companies Covered:

• CJ Logistics (NAVER)
• Coupang
• Wemakeprice
• Mesh Korea
• Lotte Global Logistics Center
• Hanjin
• Pantos
• Sebang

Key Topics Covered in the Report

South Korea E-commerce Market Overview

South Korea E-commerce Logistics Market Overview

Business Cycle and Genesis of South Korea E-commerce Logistics Market

Value Chain of South Korea E-commerce Logistics Market

Ecosystem: South Korea E-commerce Logistics Market

Timeline of South Korea E-commerce Logistics Market

South Korea E-commerce Logistics Market Size

South Korea E-Commerce Logistics Market Segmentation

Overview of E-commerce Warehousing Sector in South Korea

Government Initiatives and Bodies

SWOT Analysis of South Korea E-commerce Logistics Market

Growth Drivers of South Korea E-commerce Logistics Market

Challenges of South Korea E-commerce Logistics Market

Key Trends in South Korea E-commerce Logistics Market

End User Analysis

Covid-19 Impact on the South Korea E-Commerce Logistics Market

Future Outlook to South Korea E-Commerce Logistics Market

Competition Analysis: Market Share of E-Commerce Logistics Players in South Korea

Cross Comparison of Major E-Commerce Players

Cross Comparison of Major Logistics Players

Analyst Recommendation

For more insights on the market intelligence, refer to the link below: -

Future Outlook of South Korea E-commerce Logistics Market

Related Reports by Ken Research: -

Australia E-Commerce Logistics Market Outlook to 2026

Germany E-Commerce Logistics Market Outlook to 2026F

Global Automotive Camera Market is expected to reach nearly US$ 20 billion by 2028: Ken Research

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Global Automotive Camera Market is expected to record a positive CAGR of ~12% during the forecast period (2022-2028) and is expected to reach nearly US$ 20 billion by 2028, owing to increasing concerns regarding the drivers’ safety along with supportive legislations for installing safety technologies in passenger cars.

The growing consumer demand for active safety systems coupled with increased penetration of camera-based convenience features in passenger cars and commercial vehicles are anticipated to propel the growth of the global automotive camera market during the forecast period.

• The stringent government initiatives to install safety technology in cars and other vehicles to enhance the safety of drivers coupled with increasing penetration of safety systems in vehicles is likely to propel the growth of the global automotive camera market.

• The global automotive camera market faces challenges due to the high installation cost of the automotive camera.

• The rising incidence of malfunctioning camera components such as modules, sensors, and other components along with the high cost to fix the damages is also expected to restrict the growth of the market.

• The COVID-19 pandemic negatively impacted the automotive camera market due to the suspension of the production of vehicles and decreased demand for vehicles. Additionally, a halt in the automotive industry due to disruption in supply also slowed down the growth of the market during the pandemic. However, the market started gaining momentum owing to different mandates by different countries.

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Key Trends by Market Segment:

By Vehicle Type: The passenger vehicles segment held the largest share of the global automotive camera market by vehicle type in 2021, owing to the rising incidence of car accidents along with the increasing requirement for an active safety system.

• The increasing demand for camera-based convenience features, especially in luxury vehicles is expected to fuel the demand for the segment in the global automotive camera market.

By Application: The ADAS segment accounted for the largest share of the global automotive camera market in 2021, attributed to the surge in the installation of ADAS in passenger cars and commercial vehicles.

• Growing demand for ADAS systems in vehicles to improve their safety as it offers key driving assistance functions such as controlling speed, maintaining a safe speed, and other functions, is anticipated to aid the growth of the segment in the global automotive camera market.

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By Technology: Infrared camera segment accounted for the largest share of the global automotive camera market in 2021, due to the growing demand for cameras that operate in low-light conditions in vehicles.

• Infrared cameras can detect invisible heat radiation emitted by objects regardless of lighting conditions which can offer an added advantage to the drivers and can ensure their safety, which is anticipated to aid the growth of the segment in the global automotive camera market.

By Geography: North America region accounted for the largest share of the global automotive camera market in 2021, due to the rising demand for luxury vehicles among consumers.

• The increasing installation of advanced driver-assistance systems (ADAS) to enhance the safety of drivers coupled with the increasing number of manufacturers providing value-added service in the region, is expected to augment the growth of the region in the automotive camera market.

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Competitive Landscape

• The automotive camera market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players who have their niche in automotive cameras.
• Regional players comprise ~45% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Garmin Ltd., Panasonic Holdings Corporation, Continental AG, Autoliv, Robert Bosch GmbH, Magna International Inc., OMNIVISION, ZF Friedrichshafen AG, Aptiv, and STONKAM CO., LTD., among others.
• The leading global automotive camera companies such as Robert Bosch GmbH, OMNIVISION, and ZF Friedrichshafen AG are highly focused on offering value-added services to the end-users.
• 

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Recent Developments Related to Major Players

• In June 2020, OMNIVISION launched an OX03C10 ASIL-C automotive image sensor, which is a large 3.0-micron pixel size with a high dynamic range (HDR) of 140 dB and the best LED flicker mitigation (LFM) performance for viewing applications with minimized motion artifacts. The company aimed to enhance its product portfolio by offering first-viewing imaging sensors with LFM and HDR.
• In July 2020, ZF Friedrichshafen AG launched a new S-Cam 4.8, a next-generation ADAS camera. The new camera has enhanced vision technology and can significantly expand the 100-degree field of view for enhanced AEB, semi-automated vehicle function, and lane keeping. The company aimed to enhance its product portfolio.

Conclusion

The global automotive camera industry is forecasted to continue exponential growth, primarily driven by the surging demand for active safety systems among consumers. Furthermore, the rising penetration of camera-based convenience features in luxury vehicles along with the increasing installation of ADAS in vehicles is expected to fuel the growth of the market. Though the market is highly competitive with ~100 participants, regional players control the dominant market share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Market Taxonomy

Ken Research has recently published report titled Global Automotive Camera Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by vehicle type, application, and technology. In addition, the report also covers market size and forecasts for the four region's automotive camera market. The revenue used to size and forecast the market for each segment is US$ billion.

By Vehicle Type

Passenger Vehicles

Commercial Vehicles

By Application

Park Assist

ADAS

Others

By Technology

Infrared Camera

Thermal Camera

Digital Cameras

By Geography

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Sweden, Italy)

Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)

LAMEA (Latin America, Middle East, Africa)

Key Players

Garmin Ltd.

Panasonic Holdings Corporation

Continental AG

Autoliv

Robert Bosch GmbH

Magna International Inc.

OMNIVISION

ZF Friedrichshafen AG

Aptiv

STONKAM CO., LTD.

Global Fortified Wine Market is estimated to be US$ 13 billion in 2022: Ken Research

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Global Fortified Wine Market was valued at ~US$ 10 billion in 2017. Furthermore, owing to the increasing alcohol socialization among consumers along with the increasing adoption of European culture, it is estimated to be ~US$ 13 billion in 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing with CAGR of ~7% during 2022 to 2028.

• Rapid socioeconomic changes and urbanization are propelling demand for premium alcoholic drinks, including wines across countries.
• Wine is an integral part of Western culture and is disseminated globally, particularly in Asian countries, which is supporting the market's exponential rise.
• The presence of high sugar and calorie content in fortified wines may stifle the market growth of fortified wine.
• The ongoing COVID-19 pandemic has resulted in an unprecedented drop in the global wine trade in 2020, due to the lockdowns imposed by several governments across countries, which have halted wine production. Furthermore, extensive closures of restaurants and bars, as well as the restrictions on socializing have lowered the sales of fortified wine.

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Key Trends by Market Segment

By Product Type: The vermouth segment held the largest share of the global fortified wine market in 2021, owing to the presence of a wide range of botanicals, such as herbs, spices, roots, and flowers that provide a number of potential health benefits, such as improving digestion, reducing stress, reducing inflammation, protecting the immune systems, and more.

• The increasing use of vermouth wines in making cocktails, especially manhattan, and martinis because of their sweetness and lower alcohol levels is propelling its market growth.
• Furthermore, it has lower Alcohol by Volume (ABV) than other fortified wines which is a major contributing growth factor of vermouth wines.

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By Distribution Channel: The Liquor Stores segment held the largest share of the Global Fortified Wine Market in 2021, owing to the increased number of liquor stores across countries, where individuals can easily seek wines.

• The availability of a wide range of products under numerous brands at lower prices in liquor stores than in bars, restaurants, nightclubs, hotels, and other on-trade channels is also driving the market growth of liquor stores.
• Furthermore, the segment is expected to remain dominant during the forecast period (2022-2028), owing to the improved alcohol distribution channel network globally.

By Body Type: The Full Body segment held the largest share of the Global Fortified Wine Market in 2021, as the majority of red wines fall into this category, which is the most widely purchased wine by individuals among others, including rose and white.

• Another growth factor is the presence of alcohol levels and certain substances, such as antioxidants in red wine, which help in the prevention of coronary artery disease, leading to heart attacks.
• Furthermore, unlike light or medium-bodied wines, full-bodied wines have low acidity levels that prevent gastric acid secretion and gastrin release, as well as a high alcohol content that is frequently used in cocktail making.

By Geography: Europe accounted for the largest share of the Global Fortified Wine Market in 2021 and will remain dominant in the forecast period (2022-2028).

• The growth is primarily attributed to the fact that Europe is the world's leading producer of wine, with vermouth, the most prominent fortified wine, being produced primarily in Italy, followed by sherry wine in Spain and port wine in Portugal.
• The increasing consumption of wine in countries like Germany, France, Italy, Spain, and Portugal is expected to drive the market in this region.

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Competitive Landscape

• The Global Fortified Wine Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players with their niche in adopting advanced technology, such as fermentation technology to improve the product taste, texture, and oenological potential of vineyards. Moreover, companies are competing on various parameters such as partnerships, new products offering, business models, marketing strategies, pricing, campaign, and more.
• Regional players control about ~55% of the market, while country-niche players hold a share of ~35%. Some of the major players in the market include E.&J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Precept Wine, LLC, Backsberg, Grupo Sogevinus Fine Wines, Taylor's Port, and among others.

Recent Developments Related to Major Players and Organizations

• In January 2021, E&J Gallo announced that it had sold its two key fortified wine brands to Precept Wine, a US-based wine company.
• In April 2021, Constellation Brands launched a dedicated business unit for fine wine and craft spirits which includes the following spirit brands: High West Whiskey, Casa Noble Tequila, Mi Combo, Copper & Kings, Nelson’s Green Brier Distillery, and the Real McCoy.

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Conclusion

The global fortified Wines market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the increasing consumption of premium alcoholic drinks/beverages, including fortified wine is the rising living standards across countries, along with the increased social engagements, and adoption of western culture. Though the market is highly competitive with around ~150 participants, few country-niche players control the dominant share and regional players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled Global Fortified Wine Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by product type, distribution channel, and body type. In addition, the report also covers market size and forecasts for the four major regions' in Fortified Wine Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type

Port Wine

Vermouth

Sherry

Others

By Distribution Channel

Pubs, Bars, & Restaurants

Internet Retailing/Online

Liquor Stores

Supermarkets/Hypermarkets

Others

By Body Type

Light Bodies

Medium Bodies

Full Bodies

By Region

North America (USA, Canada, and Mexico)

Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)

LAMEA (Latin America, Middle East, and Africa)

Key Players

E & J. Gallo Winery

Constellation Brands, Inc.

Treasury Wine Estates

Trinchero Family Estates

Deutsch Family Wine & Spirits

The Wine Group

Precept Wine, LLC

Backsberg

Sogevinus Fine Wines SL

Taylor's Port