Asia Pacific Commercial and Industrial Robots Market is expected to record a positive CAGR of 17% during the forecast period 2022-2027: Ken Research

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The Asia Pacific Commercial and Industrial Robots Market is expected to record a positive CAGR of ~17% during the forecast period 2022-2027, due to the shortage of skilled labor, the emergence of smart factories, and the increase of warehouse automation in diverse industry sectors. A rise in the tendency to make online purchases is anticipated to promote the expansion in the usage of these robots in the e-commerce business, especially in logistics hubs and warehouses. Increased investment in R&D and advancements in AI, IoT, and Machine learning are creating new opportunities in the market as well. Of late, commercial robots are also getting deployed in healthcare as they are widely used for surgical procedures, sanitation, and delivering medicines.

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• The modern industrial age we live in is driven by significant advancements across diverse sophisticated technological paradigms. The field of robotics has been able to leverage the growth witnessed by AI, ML, and IoT. With annual IoT investment expected to peak at $450 billion in 2023, intelligent robots are anticipated to become widely available across different commercial and industrial sectors.
• Robots are expected to become more mobile in near future. According to the International Federation of Robotics (IFR), unit sales of Autonomous Mobile Robots (AMRs), for instance, will increase 31% annually in the logistics sector between 2020 and 2023. At the same time, the use of AMRs in public settings will quickly rise; according to IFR, yearly growth in global unit sales will be 40%.
• The need for automation is growing, and so is the significance of robots in society. They assist in reducing expenses, boosting productivity and dependability, and relieving workers of dangerous and monotonous duties.
• As a result of the present trend towards industrial robot automation and continued technological improvement, demand for industrial robots has greatly increased since 2010. Between 2015 and 2020, annual installations increased by 9% on average yearly (CAGR).
• With a significant CAGR anticipated for the projection period, China is one of the most crucial regions within the APAC geography with a fast-expanding manufacturing sector and growing usage of commercial robots.

Key Trends by Market Segment

By Product:  Articulated Product Type holds the largest share of Asia Pacific’s Commercial and Industrial Robots market.

• The automation environment is evolving as a result of autonomous mobile robots (AMRs). AMRs whiz through massive merchandise piles while transporting the newest purchases for international shipping.
• They are moving 1,000-kg payloads around a factory in place of forklifts. By transferring products from one conveyer belt to another, robots are helping production processes to become more efficient.
• In 2021, the largest share of industrial robot exports was articulated robots, followed by gantry robots.
• Collaborative robots are gaining momentum. From 2017 to 2020, the annual number of collaborative robots installed increased from 11,000 to 22,000, while the number of traditional industrial robots decreased from 389,000 to 362,000.

By Application: The Material-Handling segment accounts for the majority share of the Asia Pacific Commercial and Industrial Robots market.

• Commercial cleaning robots are one area of promise for mobile robotics, in addition to manufacturing, warehouse, and fulfillment activities. Robotic UV disinfection has become increasingly important as a result of COVID-19

By Mobility: The Mobile segment holds the largest market share in the Asia Pacific Commercial and Industrial Robots Market

• As sensors and software algorithms progress, making navigation and vision more exact, AMRs and Service robots will be able to travel in a variety of interior and outdoor locations more effortlessly.

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By End User: Electrical & Electronics holds the largest market share in the Asia Pacific Commercial and Industrial Robots Market.

• With 123,800 installations (+22% YoY) in 2021, Electrical & Electronics leads the chart among end-user industries, followed by the automobile industry with 72,600 installations (+57% YoY) and the metal and machinery industry with 36,400 installations (+29% YoY).
• In 2020, the Electrical & Electronics manufacturing sector took over as the primary user of industrial robots. To produce household appliances, electrical machinery, semiconductors, solar panels, computers, telecommunications equipment, and video and electronic entertainment products, 109,315 robots were placed into production.
• Quite significantly, in 2020, the automotive industry lost its position as the top user of Industrial robots.  The total number of annual installations it had was 79,849 units (-22% YoY). This was roughly 29,500 units less than what the electronics sector saw.

By Geography: The Asia Pacific is the world’s largest Market for Commercial and industrial Robots as the region accounted for nearly 71% of installations of Commercial and Industrial Robots in the year 2020.

• China accounted for the largest share within the World as well as the Asia Pacific for the Commercial and Industrial Robots market in 2020, accounting for more than 30% of total market revenue in the Asia Pacific and around 168,400 Robot units shipped worldwide.
• Both Japan and South Korea hold more than 14 and 11 percent market share respectively within the Asia Pacific region with around 38,653 and 30,506 units Installed.
• Although it is still a smaller market for robotics, compare to China, India is expected to witness the highest growth in the forecasted period.

Competitive Landscape

• The Commercial and Industrial Robots market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Commercial and Industrial Robots for multiple industries.
• Large global players control about 55% of the market, while regional players hold the second largest share. Some of the major players in the market include ABB, Yaskawa Electric Corporation, FANUC Corporation, KUKA AG, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Stäubli Robotics, Siasun, Robostar, and OMRON and among others.
• The leading global specialist companies such as Yaskawa, Fanuc, Kawasaki, Mitsubishi, iRobot, Robostar, and Seiko Epson are highly focused on providing significant robots for various applications that can be used across multiple industries, including Automation, Electrical and Electronics, Healthcare, and Pharmaceuticals, and more.

Ken Research has published a report title Asia Pacific Commercial and Industrial Robots Market Size, Segments, Outlook, and Revenue Forecast 2017-2027 that is segmented by Product, Application, Mobility, and End User Industries. In addition, the report also covers market size and forecasts for the region's five major countries' Commercial and Industrial Robots markets. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Product

Articulated Robots

SCARA Robots

Linear Robots

Parallel/Delta Robots

Cylindrical Robots

Autonomous Guided Robots

Field and Service Robots

Others

By Application

Material Handling

Soldering and Welding

Assembling & Disassembling

Painting & Dispensing

Milling, Cutting, and processing

Picking and Placing

Cleaning

Others

By Mobility

Fixed

Mobile

By End User Industry

Automotive

Plastics & Chemicals

Electrical & Electronics

Metal & Machinery

Food & Beverages

Healthcare and Pharmaceuticals

Defense and Security

Retail & Hospitality

Others

By Geography

China

Japan

South Korea

India

Taiwan

Rest of Asia Pacific (Australia, Bangladesh, Brunei, Indonesia, Sri Lanka Malaysia, Philippines, Vietnam, and Others)

Europe battery recycling market is expected to record a positive CAGR of 40.0% and reach approximately US$3.5 Bn by 2027: Ken Research

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Battery recycling is the technique of reusing and reprocessing batteries with the goal of minimizing the number of batteries disposed of away as material waste. The Europe battery recycling market is expected to record a positive CAGR of ~40.0% during the forecast period (2022-2027) and reach approximately US$3.5 Bn by 2027, primarily driven by the depleting availability of fresh raw materials for the production of batteries which is increasingly growing in demand in both household electronics as well as industrial use. The ongoing Covid-19 pandemic has benefited the battery recycling industry as the demand for electric vehicles (EV) in the region experienced a growing trend with a remarkable rise in sales in the year 2020.

Augmenting demand from industries for batteries has in turn posed pressure on raw material production at an advanced rate. It is directly affecting the ratio proportion of the ability to produce raw materials like lithium to meet the demand for the same. This has focused the attention on recycling processes to meet up with the rise of battery requirements in industries.

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• Lithium-ion batteries accounted for ~30% of the market in 2021 which is expected to grow at a high rate of above 40% in the coming years owing to the increase in demand from the automotive industry which is experiencing a trend of electrification of vehicles.
• Furthermore, due to growing environmental problems such as contamination of the soil, water, air, and rise in global warming, European Union is pushing for the construction of battery recycling infrastructure. All such factors are likely to enhance the battery recycling market's trajectory for growth.
• However, due to the market's uncertainty and immaturity, there are few barriers. For example, most of the electric vehicles in the market have yet not reached the end-of-life stage which raises numerous questions related to battery lifespans, collection, condition, and compatibility to recycling procedures.

• The availability of 100-200 gigawatt hours of batteries that will soon need to be retired due to their incapacity to meet the requirements for use in an EV is predicted to result from the development of EVs by 2030.

• According to the International Council on Clean Transportation, the European electric vehicle (EV) market experienced remarkable growth in 2020, posting a 143% increase in sales of passenger electric cars from 2019. The sales in 2020 made Europe the biggest EV market globally, surpassing China and the US.
• Although sales of all new cars in Europe decreased by 20%, the increase in EV sales boosted the EV share to 11%. Both battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) have jumped into the air, not only in terms of market share but also in overall terms. In Germany, sales of PHEV vehicles from January to June increased from 47,584 in 2019 to 93,848 in 2020. Similar trends were observed across other countries in Europe.

Key Trends by Market Segment

By Source:  Automotive batteries source holds the largest share of Europe’s battery recycling market.

• Increasing adoption of batteries in the automotive sector for electric vehicles has increased the number of waste batteries from the sector in turn opening opportunities for extracting valuable metals from the product for further usage.
• Lead oxide paste, solid sponge lead, and sulfuric acid make up the battery's chemical composition. These three compounds are made to chemically react with one another to create a current flow.
• The metals attained after the recycling includes stainless steel, lead, nickel, lithium, and others.
• For instance, in November, 2020, BMW and Off Grid Energy formed a partnership with a purpose of finding solutions to sustainable second-life for the end-of-life electric and hybrid models of BMW.

By Chemistry: Lead-acid battery chemistry segment accounts for the majority share of the Europe Battery Recycling Market.

• Due to the rising energy costs of pyrometallurgical lead recovery, the associated CO2 emissions, and the dire health effects from lead-to-air emissions, it is becoming increasingly necessary to develop novel procedures to recover lead from end-of-life lead-acid batteries.

• For instance, in September, 2022, Recyclus receives an approval for a new battery recycling facility. The company will be able to disassemble lead-acid batteries at a facility in Tipton (U.K.) and find new Chemistries for its component parts. The decision will enable the business to manually recycle lead-acid batteries, such as those that are frequently seen in automobiles.

By Recycling Methods: The pyrometallurgy segment holds the largest market share in the Europe Battery Recycling Market as trusted and widely used method in the region.

• In June, 2022, Aurubis, a German company had begun its construction of a recycling plant in Augusta, Georgia. The plant will recycle up to 90,000 tons of cables, circuit boards, and electronics into blister copper and other metals preferably through the pyrometallurgy recycling method.
• The hydrometallurgy segment is expected to grow at a faster rate during the forecast period, as with hydrometallurgical battery recycling, more elements with a high purity grade can be recovered while using less energy and emitting no emissions into the atmosphere.

By End-User: Consumer electronics end-user segment holds the highest market share in the European battery recycling market.

• Battery usage is rapidly rising due to the rise in energy demand for electric and electronic consumer gadgets, and as a result, more materials are being used that will result in an increase in the long-term production of hazardous waste.
• According to the CEO of SolidEnergy, new lithium metal batteries might double the lifespan of smartphones, drones, and electric vehicles.
• In the absence of suitable legislation and technological solutions that make battery recycling practicable and cost-effective, electronic and electrical gadgets, as well as lithium-ion batteries, have been abandoned at the end of their useful lives which is promoting the need for recycled batteries in the industry.

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By Geography: Germany accounts for the largest share of the total Europe battery recycling market, accounting for a significant share of total market revenue due to rising government regulations on the same.

• Sweden is expected to have the second highest CAGR after rest of Europe during the forecast period, due to the increasing adoption of electric battery buses in the country due to government support from the European Environment Agency.
• Gothenburg in Sweden is home to various electric vehicle manufacturers like Stena Recycling and more who are taking initiatives in electric vehicle market and in turn promoting battery recycling.
• The battery recycling market in Spain is also expected to grow significantly in the coming years, as EV incentive schemes launched by the government of Spain like Renove, is expected to boost its adoption in the country and will benefit the battery recycling market.
• France is supporting the adoption of electric vehicles through making it a convenient option to drive, for example, set up of approximately 30,000 charging points across the country. It is therefore increasing the demand for EVs as well lithium-ion battery.

Competitive Landscape

• The battery recycling market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in battery recycling. Most of the country-niche players are renewable energy and equipment suppliers.
• Large global players control about 40% of the market revenue, while regional players hold the second largest share in the market revenue. Some of the major players in the market include Accurec Recycling GmbH, Umicore, Volkswagen Group, BASF Group, REDUX Recycling GmbH, Li-Cycle, Saft Groupe SA, SNAM, Stena Recycling, Erament, Glencore, Hydrovolt and others. The leading global specialist companies such as REDUX Recycling GmbH and Accurec Recycling GmbH, are highly focused on battery recycling.

Recent Developments Related to Major Players

• BASF is reported to be building a facility, slated to start in 2024 that would disassemble and shred batteries to create black mass. By the middle of the decade, the corporation also intends to construct a hydrometallurgical refinery on a commercial scale in Europe. The materials would then be sent back to BASF's battery cathode materials factory in Schwarzheide, which is expected to begin manufacturing by the end of the year.
• In July, 2022, Nyobolt Limited (UK) and H.C. Starck Tungsten Powders (Germany), have signed an agreement which will enable new Chemistrys into automation (robotics), industrial vehicles, consumer appliances, mobile rapid charging, stationary storage, and cordless.
• Ford stated that it was thinking about implementing LFP (lithium iron phosphate) in 2021, mostly for commercial purposes. The company revealed a significant supply agreement with China's CATL in July 2022, with the supply of LFP cells set to start in 2023.
• In November 2021, a preliminary lithium supply agreement was inked by German-Australian Company Vulcan with automaker Stellantis (STLA.MI), shortly after a similar agreement was reached with Renault (RENA.PA), amid a boom in demand for electric vehicles.
• Around 2027, Stora Enso (Finland) and Northvolt will make batteries out of sustainable wood. Hard carbon with lignin as its base will be used in the process and will be manufactured with wood in Nordic greens.
• Started in June 2022, GigafactoryX is being built by Clean Power Source S.A. (ICPT). The investment will increase the company's manufacturing capacity from its present 1 MWh per day to up to 5 GWh annually. Lithium-ion cells with LTO, LFP, and NMC chemistry will constitute the basis of all battery systems. Production is expected to begin in 2024.

Conclusion

The Europe Battery Recycling Market is forecasted to continue an exponential growth that is witnessed since 2017, primarily driven by rising demand for electric vehicle and escalating environmental issues arising from carbon emissions. Though the market is highly competitive with around 100 participants, few global players control the dominant share and regional players also hold a significant share.

Ken Research has published a report title Europe Battery Recycling Market Size, Segments, Outlook and Revenue Forecast 2022-2027 that is segmented by Source, Chemistry, Recycling Methods, and End-User. In addition, the report also covers market size and forecasts for the region's six major countries' battery recycling markets. The revenue used to size and forecast the market for each segment is US$ million.

Market Taxonomy

By Source

Automotive Batteries

Industrial Batteries

Consumer Electronic Appliance Batteries

By Chemistry

Lithium-ion

Lead-acid

Nickel

Others

By Recycling Methods

Hydrometallurgy

Mechanical Processes

Pyro metallurgy

Direct Recycling

By End-User

Transportation

Industrial

Consumer Electronics

By Geography

Germany

UK

Italy

France

Spain

Sweden

Rest of Europe (Norway, Finland, Netherland, Denmark, Portugal, others)

Global Ethnic Foods Market is expected to reach USD 80 bn by 2028: Ken Research

 The Global Ethnic Foods Market was valued at ~US$ 35 billion in 2017. The demand for ethnic food has been expanding as a result of the rising immigration rates driven by work possibilities, higher education, and tourism. Also, the market is anticipated to grow during the projected period due to rising capital investment in creating healthy, ethnic-based food and rising consumption of nutrient-dense foods. It is estimated to be ~US$ 50 billion in 2022 and is expected to reach a market size of ~US$ 80 billion by 2028 growing at a CAGR of ~8% during 2022-2028.

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Key Growth Drivers

• By increasing the accessibility and availability of ethnic food items, the increasing number of specialized ethnic food supermarket chains in developed nations is driving the market for ethnic food. People's tastes and dining experiences are changing as developing countries become more advanced.
• The growing millennial generation, which is constantly seeking out new, exotic experiences, is more open to adopting exotic foods and flavors into daily diets, which is anticipated to fuel the expansion of the market for ethnic food throughout the projected period.
• One of the major trends driving the expansion of the ethnic foods market is the adoption of innovative and environmentally friendly packaging by major suppliers. Vendors in the global market for ethnic foods utilize strategies to gain a competitive edge.
• Market expansion is primarily affected by stringent rules and regulations that hinder the easy and smooth global trade of food products. High import and export tariffs are also obstructing market growth in some regions.
• The COVID-19 pandemic outbreak had a negative impact on the market's growth. Due to the spread of the infection, many people chose to stay indoors, which had a negative effect on the hotel and catering industries. The consumption of ethnic food on major distribution channels declined as a result of fewer frequent consumers and tourists.

Key Trends by Market Segment

By Cuisine Type- the Chinese cuisine segment dominated the market in 2021, due to the growing demand for Chinese food from developed regions like Europe and North America is driving industry expansion

• Chinese food consumption is increasing, which in turn is driving up industry demand, as more people from Asian countries migrate abroad for higher education, tourism, and career possibilities.
• According to the Higher Education Statistics Agency, in 2020 approximately 35% of non-European students in Europe were of Chinese ethnicity, leading to the increased demand for Chinese food in European and North American countries.

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By Food Type- The non-Vegetarian segment accounted for the highest market share in 2021, as consumption is considerably higher than vegetarian consumption worldwide.

• Non-vegetarian cuisine is part of practically every household's daily diet in Europe, North America, South America, China, and the Middle East.
• Compared to vegetarian meals, non-vegetarian meals make up a higher portion of an individual’s regular diet.

By Application- Restaurants accounted for the highest market share in 2021 as restaurants regularly serve ethnic foods to enhance the dining experience for consumers.

• Customers have the opportunity to explore new cuisines and varieties while dining outside the home.
• Taco Bell, the world's leading Mexican-inspired restaurant brand, in December 2019 announced that it had reached an important milestone in its India expansion by opening its 50th location.

By Distribution Channel- Hypermarkets/Supermarkets dominated the market in 2021 since the wider public prefers to purchase food and snacks from supermarkets and hypermarkets

• Its dominance can be attributed to consumers' strong preference to buy items from big supermarkets due to its extensive range of brand and price options.
• Developments in the organized retail sector, as well as a rise in the number of hypermarkets and supermarkets, along with increased metro cities and migration to metro cities, are the primary factors influencing the expansion of the whole segment.

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By Geography: Asia Pacific accounted for the largest market share among all regions in 2021, owing to numerous expansion prospects for ethnic food services businesses that have emerged in the Asia-Pacific region.

• Residents of India and other developing nations are using social media more and more to share their culinary experiences, which encourages customers to try new restaurants and cuisine options based on the ratings given.
• Consumers in the Asia-Pacific region are increasingly interested in trying out new cuisines, both internationally and from genuine regional cuisines. Additionally, producers are working hard to meet consumer demand for novel and distinctive culinary products by including more international classics, greater variety, spices, and strong tastes.

Competitive Landscape

The Global Ethnic Foods Market is highly competitive with ~1,000 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in ethnic food. Global players constitute ~10% of competitors, while country niche players represent the largest number of competitors. The market is highly competitive since key players are focusing on R&D and launching new products with different kinds of ethnic food cuisines to meet growing consumer demand for a variety of cuisines and are investing in producing healthy nutritious rich ethnic-based foods as people adopt healthier life. Some of the major players in the market include Ajinomoto Co. Inc., Taco Bell, ARYZTA AG, Asli Fine Foods, McCormick & Company Inc., General Mills, MTR Foods, Wanis International Food, Santa Maria UK Ltd, Nestle. And others.

Recent Developments Related to Major Players

• In October 2021, General Mills expanded its Old El Paso a range of Tex-Mex foods that includes dinner kits, tacos, tortillas, and more, line by offering new flavored taco shells in collaboration with crisp brand Takis in the United States.
• In November 2020, McCormick & Business Inc. announced a definitive agreement to acquire the parent company of Cholula Hot Sauce®, a premium hot sauce brand with authentic Mexican characteristics for US$800 million in cash,

Conclusion

The Global Ethnic Foods Market is anticipated to grow significantly during the projected period (2022-2028) as there is a growing demand for ethnic food as a result of increased employment opportunities, access to higher education, and tourism. Moreover, the market is expected to expand during the forecasted period as a result of increased investment in the production of nutrient-dense foods and healthy ethnic foods. Though the market is competitive with ~1,000 participants, country-niche players control the dominant share and regional players also hold a significant share.

Note: This is a Planned/On-Demand 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 Ethnic Foods Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion

Market Taxonomy

By Cuisine Type	American Chinese Japanese Mexican Italian Others
By Food Type	Vegetarian Non-Vegetarian
By Distribution Channel	Hypermarkets /Supermarkets Convenience Stores Online Others
By Application	Restaurant Household Others
By Geography	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	Ajinomoto Co. Inc. Taco Bell ARYZTA AG Asli Fine Foods McCormick & Company Inc. General Mills MTR Foods Wanis International Food Santa Maria UK Ltd Nestle.

Global Thermoplastic Polyurethane Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

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The Global Thermoplastic Polyurethane Market was valued at ~US$ 2 billion in 2017. It is estimated to be ~US$ 3 billion in 2022 and is forecasted to reach a market size of ~US$ 5 billion, growing at a CAGR of ~7% owing to the increasing adoption of TPU in the footwear and automotive sectors.

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Key Growth Drivers

• Rising demand for flexible and biodegradable plastics in the footwear industry is one of the key factors responsible for the growth of the market. The widespread adoption of thermoplastic polyurethane by footwear manufacturers for producing soles for safety shoes due to their abrasion resistance, slip, and aesthetic properties accelerate the market growth.
• Furthermore, the rise in the expansion of the automotive industry across the globe acts as one of the major factors driving the growth of the thermoplastic polyurethane market. The product is widely utilized in automobile components, such as seats, doors, vehicle wiring, attachment clips, and airbags, among others.
• The major challenge faced by the market is the volatile prices of the raw materials used for making Thermoplastic Polyurethane. The high cost associated with TPU when compared to other conventional materials obstructs market growth.
• COVID-19 had a negative influence on the Thermoplastic Polyurethane market growth and demand, owing to a worldwide halt in manufacturing operations. The government restrictions implemented during the pandemic significantly influenced the production of TPU. Due to the scarcity of raw materials, thermoplastic polyurethane manufacturing and processing were closed. Huge impacts were also seen in the consumption of TPU during that time as many end-use industries were severely disrupted. However, the market is expected to exhibit significant growth in the forecast period due to surging demand for thermoplastic polyurethane products in the healthcare, footwear, and automotive industries.

Key Trends by Market Segment

By Raw Material: The diisocyanates segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to its wide applications in various end-use industries such as automotive, building & construction, healthcare, and aerospace.

• Diisocyanates are a family of versatile building blocks that are used in the development of multiple polyurethane products such as bike helmets, vehicle impact-absorbing foam panels, and others.
• Diisocyanates are reacted with natural oil polyols derived from vegetable oils for the development of polyurethane products containing functional diversification and renewable resource content.

By Type: The Polyester segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to its wide area of application in the engineering and construction sectors.

• Polyester-based thermoplastic polyurethane provides resistance to oils, fuels, and water, due to which it is widely used in the building and construction industry.
• Polycaprolactone segment is expected to grow with the highest CAGR, owing to its abrasion resistance with inherent toughness. The product is widely used in engineering applications due to its antimicrobial and mechanical properties.

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By Application:  The extruded products segment held the largest market share in the global thermoplastic polyurethane market in 2021, as the extrusion process enhances the properties of TPU material and makes it suitable to be used in end-use industries.

• TPU is a melt-processable and highly elastic thermoplastic elastomer. It is transparent and easily colored. Therefore, it is widely used for extruded products application.
• TPU can be compounded with many materials by using the process of extrusion in order to enhance its properties, such as increased strength, fuel and oil resistance, and abrasion resistance.
• Compounded TPUs are used in a wide range of applications where superior structural integrity is required, such as for hoses and tubes, conveyor belts, electrical wires, medical disposables, and Office Automation equipment connectors.

By End-User: The footwear segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to the rising demand for comfortable and durable shoes.

• The Thermoplastic Polyurethane (TPU) sole is highly resistant to abrasion, and has a longer life and better resilience property than rubber soles, which makes this material most preferred among other polymers.
• The automotive segment is expected to grow with the highest CAGR, owing to its wide applications in instrument panels, seats, airbags, doors, attachment clips, vehicle wiring, and anti-vibration panels.

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By Region: Asia Pacific held the largest market share among all other regions within the Global Thermoplastic Polyurethane Market in 2021, due to the rapid infrastructure development and increasing demand for TPU as an insulator in the construction industry.

• The increasing demand from automotive, textile, and footwear manufacturers, thermoplastic polyurethane adhesives, and sealants are expected to witness growth in the region.
• Rapid growth of the construction industry mainly in China and India on account of growing disposable income in the nation is expected to be a key factor driving the demand for polyurethane products in the region.
• According to data by OICA, the International Organization of Motor Vehicle Manufacturers, automotive vehicle production in India increased by 30% in 2021 compared to 2020. The country registered a total production of 43,99,112 units in 2021, which helped in the growth of the market.

Competitive Landscape

The Global Thermoplastic Polyurethane Market is highly competitive with ~300 players, including globally diversified players, regional players, and many country-niche players. Most of the country-niche players are the manufacturers of raw materials for Thermoplastic Polyurethane used in various end-user industries.

Regional players constitute ~30% of the total number of competitors, while country-niche players dominate representing ~50% of total competitors. Some of the major players in the market include 3M, BASF SE, Coim Group, Covestro AG, Huntsman International LLC, KURARAY CO., LTD., Tosoh Corporation, Sumei Chemical Co. Ltd, The Lubrizol Corporation, Epaflex Polyurethanes Spa, among others.

Recent Developments Related to Major Players and Organizations

• In August 2022, BASF SE launched its new invisible thermoplastic polyurethane paint protection film (PPF), which provides multifaceted and long-lasting protection for automotive coatings.

• In September 2021, KPX Chemical, a Korean polyurethane manufacturer, established a joint venture with Huntsman Corporation, KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO. LTD (KHPUA). The joint venture created innovative polyurethane system solutions for Korean automakers.

• In May 2019, the Lubrizol Corporation established a partnership with a Netherlands-based 3D printer manufacturing company, Ultimaker. Under the partnership, The Lubrizol Corporation develops new grades of thermoplastic polyurethane for printers of Ultimaker.

Conclusion

The Global Thermoplastic Polyurethane Market witnessed slow growth in the year 2020, owing to the restricted supply chain worldwide. Due to the scarcity of raw materials, thermoplastic polyurethane manufacturing and processing were closed. Footwear is the largest industry for the TPU market that faced a massive decline worldwide during the pandemic period. The market condition is expected to get even better in 2022, owing to the consumers’ preference for health and hygiene. The market is primarily driven by the increasing usage of Thermoplastic Polyurethane in footwear, automotive, construction, and other industries. Though the market is highly competitive with over ~300 participants, country-niche players control the dominant share in the market 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 a maximum of 2 working weeks.

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

Market Taxonomy

Raw Material	Polyols Diisocyanate Diols
Type	Polyester Polyether Polycaprolactone
Application	Extruded Products Injection Molded Products Adhesives Others
End-User	Footwear Automotive Construction Aerospace Energy & Power Medical Others
By Region	North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy) Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia) LAMEA (Latin America, Middle East, Africa)
Key Players	3M BASF SE Coim Group Covestro AG Huntsman International LLC KURARAY CO., LTD. Tosoh Corporation Sumei Chemical Co. Ltd The Lubrizol Corporation Epaflex Polyurethanes Spa

Global Industrial Automation and Control Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Industrial Automation and Control Systems Market was valued at ~US$ 150 billion in 2017. The market is anticipated to grow significantly throughout the projected period as a result of the growing adoption of process automation across numerous industries, including automotive, energy utilities, and chemicals. It is estimated to be ~US$ 250 billion in 2022 and is expected to reach a market size of ~US$ 450 billion by 2028 growing at a CAGR of ~11% during 2022-2028.

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Key Growth Drivers

• Many industries like manufacturing, oil and gas, chemicals and materials, pharmaceuticals, and materials and chemicals implement automation systems and prefer to use tried-and-true standards and technology to ensure reliable, secure, and consistent operations, which is driving the market for industrial automation to grow quickly.
• Industrial automation acts as a catalyst for greater dependability and efficiency that raises the return on investment (ROI). Industrial automation decreases production costs while raising output rate and quality through the use of cutting-edge, integrated technology.
• As automation involves installing hardware like highly precise robots, sensory-perceptive machines, and wheels that support mobility, it necessitates a substantial financial investment, which results in very high upfront costs.
• In 2020, the manufacturing and industrial sectors have been greatly disrupted by the COVID-19 pandemic. COVID-19 has, however, considerably accelerated the growth of industrial automation across the manufacturing sector as a result of the increased adoption of industry 4.0 over the past few years.

Key Trends by Market Segment

By Component- Control valve component dominated the market in 2021, due to the rapid advancement of technology.

• Control valves have a significant market share in the oil and gas industry owing to the benefits it offers in terms of pressure and temperature control throughout downstream, middle, and upstream activities.
• The need for control valves in the power generating industry is expected to grow due to the increasing number of power production plants around the world and the growing demand for energy and electricity in developing countries.

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By Control System - DCS segment dominated the market during 2021, owing to its uses including production scheduling, preventative maintenance scheduling, and information interchange.

• An automated management solution for monitoring and managing a variety of industrial processes is called a distributed control system (DSC). It is utilized for information reporting, process control, process supervision, and data collection.
• Demand for DCS is rising as a result of features including scalability, simple and convenient installation, and automatic updates. The demand for DCS has also increased as a result of the expanding industrialization around the world, particularly in developing countries in the Asia Pacific and the Middle East.

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By Industry- The manufacturing industry dominated the market during the forecast period due to trends in the manufacturing sector being at the forefront as it goes through its biggest transition in recent years

• Manufacturing operations are increasingly moving toward automation and technological convergence as manufacturers see the value of a successful digital transformation.
• The adoption of automation solutions also makes it easier to integrate data about production processes and electric assets, which contributes to greater sustainability over the course of a manufacturing plant's entire lifecycle.

By Geography: Asia Pacific accounted for the largest market share among all regions in 2021, due to the adoption of automation continually increasing in countries such as India, Japan, China, and South Korea.

• China and Japan are among the top producers and consumers of industrial robots, sensors, and machine vision systems in Asia Pacific. In addition, the manufacturing sectors for automobiles, consumer products, electronics, and pharmaceuticals are strong in India, China, and South Korea.
• Government programs and laws that support the digitization of manufacturing facilities and investments in the IIoT are also significant drivers of the adoption of industrial automation systems in Asia Pacific region.

Competitive Landscape

The Global Industrial Automation and Control Systems Market are highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Industrial Automation and Control Systems. Large global players constitute ~20% of competitors, while regional players represent the second largest number of competitors. Some of the major players in the market include Schneider Electric, Rockwell Automation, Inc., Honeywell International Inc. Emerson Electric co., ABB, Mitsubishi Electric Corporation, Siemens, Omron Corporation, Yokogawa Electric Corporation, General Electric Co., and others.

Recent Developments Related to Major Players

• In 2021, ABB and ETH partnered to enhance robotics research, a new partnership and a US$ 2.5 million gift will help Switzerland become one of the top robotics research centers in the world.
• In 2020, Rockwell Automation, Inc. acquired ASEM, S.p.A., and a renowned Italian supplier of digital automation solutions. The Control & Visualization hardware and software portfolio will be further improved by this acquisition within the Architecture & Software business area.

Conclusion

The Global Industrial Automation and Control Systems Market is anticipated to grow significantly throughout the projected period (2022-2028) due to the increasing adoption of process automation solutions across numerous sectors, including the automotive, chemical, and energy utilities, the market is predicted to have significant growth throughout the forecast period. Though the market is highly competitive with ~800 participants, few global players control the dominant share and regional players also hold a significant share. The market size is estimated to be ~US$ 250 billion in 2022 and is expected to reach a market size of ~US$ 450 billion by 2028 growing with a CAGR of ~11%. The Asia Pacific is the dominating region, as China and Japan are among the top producers and consumers of industrial robots, sensors, and machine vision systems in Asia.

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 two working weeks.

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

Market Taxonomy

By Component	Human-Machine Interface (HMI) Component Industrial Robots Control Valves Sensors Others
By Control System	DCS PLC SCADA Others
By End-user Industry	Aerospace & Defense Automotive Chemical Energy & Utilities Food & Beverage Healthcare Manufacturing Mining & Metal Oil & Gas Transportation Others
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, Italy, France, Spain, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific) LAMEA (Latin America, Middle East, Africa)
Key Players	Schneider Electric Rockwell Automation, Inc. Honeywell International Inc. Emerson Electric co. ABB Mitsubishi Electric Corporation Siemens Omron Corporation Yokogawa Electric Corporation General Electric Co.

Global Hospital Furniture Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Hospital Furniture Market was valued at ~US$ 7 billion in 2017. It is estimated to be ~US$ 11 billion by 2022 and is expected to reach a market size of ~US$ 20 billion by 2028, growing with a CAGR of 10%. This growth is due to the rise in the number of hospital admissions globally, and the increasing prevalence of different chronic diseases.

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Key Growth Drivers

• The increasing number of hospitals and clinics, the popularity of medical tourism and the prevalence of different chronic diseases, and patient expectations towards the hospital infrastructure are driving the growth of the Hospital Furniture Market.
• Chronic diseases such as cancer, cardiovascular diseases, chronic lung disease, stroke, Alzheimer’s, diabetes, and chronic kidney diseases are on the rise all over the world, which is driving the growth of the Hospital Furniture Market. The demand for better hospital infrastructure due to rising medical tourism has also boosted the Hospital Furniture Market. Moreover, the rise in the geriatric population is increasing the number of diseases associated with age-related factors, hence increasing the number of patients visiting hospitals.
• High costs attributable to hospital furniture, lack of design and creation, and patient-centered care issues pose challenges to the growth of the Hospital Furniture Market.
• Hospital furniture such as operating tables and other examination tables have a higher cost as compared to hospital beds and chairs, which limits their adoption. The rising cost of medical furniture hinders the growth of the Hospital Furniture Market.
• The COVID-19 pandemic boosted the Global Hospital Furniture Market. Since the outbreak of COVID-19, several people were admitted to hospitals for treatment and cure. Many governments opened up extensions with bed facilities, for a larger chunk of people to get treatment simultaneously. This led to an increase in demand for medical supplies to take care of the infected people. The increased demand for stretchers and hospital beds to provide adequate healthcare support to the people through hospitals and other temporary expansion sites propelled the growth of the Hospital Furniture Market during the pandemic.

Key Trends by Market Segment

By Product Type:  Hospital bed segment held the largest market share in 2021 of the Global Hospital Furniture Market.

A hospital bed is a part of patient care as it helps in the process of recovery by ensuring proper recovery time and comfort of the patients. It is not a simple bed but multifunctional and designed under the guidance of medical experts. Some of these beds include OT beds, examination beds, ICU beds, and pediatric beds.

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By Manufacturing Material: The metal segment held the largest market share in 2021 in the Global Hospital Furniture Market.

• The metal hospital furniture has more agility, durability, and affordability and is compatible with integrating advanced systems to provide comfort and support towards patient recovery. Unlike wooden structures, metal does not require frequent maintenance and lasts longer.
• The metal hospital beds enable the patient to make adjustments according to the situation, hosting functions such as hydraulics that enable them to evenly distribute the weight on the bed.

By Application: The patient furniture segment held the largest market share in 2021 in the Global Hospital Furniture Market.

• The hospital furniture is primarily designed for patient diagnosis and treatment and with the rise in illness and other chronic diseases, the number of patients visiting the hospital has increased resulting in the growth of the patient furniture segment.
• The requirement of hospital furniture is not only seen for the in-patient but the outpatient department also requires furniture such as chairs and tables based on durability and space consideration.

By End User: The hospitals & clinics segment held the largest market share in 2021 in the Global Hospital Furniture Market.

An increased number of hospital admission, growing medical tourism, and escalating number of illnesses worldwide is boosting the demand for better hospital infrastructure and thus, hospital furniture. In addition, the rising patient admission in hospitals with higher rates of acute conditions such as heart attacks, and strokes are driving the growth of the hospital segment.

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By Geography: North America is expected to account for the largest share among all regions within the Global Hospital Furniture Market, during the forecasted period 2022-2028.

• The growth is primarily attributed to the rise in the adoption of advanced techniques and systems for the manufacturing of hospital furniture. Countries such as USA and Canada in the region host several multi-specialty hospitals with a benchmarked infrastructure. Such hospitals also tend to increase their capacity to deal with the rising number of illness treatment cases.
• Furthermore, the rising number of chronic disease cases in the region is expected to fuel the growth Hospital Furniture Market.

Competitive Landscape

According to Ken Research Study, it is estimated that the Global Hospital Furniture Market is highly fragmented among the global, regional, and country niche players. It is estimated that the market comprises nearly ~500 players across four major regions. Although the global players comprise ~5% of the competitors, they hold the second largest revenue share following country-niche players with ~40% dominance. Some of the major players in the market include Stryker Corporation, Invacare Corporation, Kovonax, LINET, J&J Medical Specialities, Skytron Supplies, Getinge, Herman Miller, Met-lak, Promotal, STERIS Corporation, GPC Medical Limited among others.

Recent Developments Related to Major Players

• In May 2022, Invacare Corporation, a manufacturer and distributor of medical equipment launched its Birdie Evo XPLUS, a patient lift in USA for post-acute care settings. It uses technology that helps maximize comfort and security when lifting or transferring a patient to or from a bed, chair, or floor.
• In May 2022, LINET, a supplier of health and nursing care products, launched the premium emergency and transportation stretcher, Sprint 200, a part of the new generation of stretchers taking patient transportation and patient care to the next level with its innovative solutions.
• In July 2021, HermanMiller, acquired Knoll, Inc. The combined company comprises 19 leading brands, a presence across over 100 countries worldwide, a global dealer network, 64 showrooms globally, more than 50 physical retail locations, and global multi-channel eCommerce capabilities.
  

Conclusion

The Global Hospital Furniture Market is forecasted to continue positive growth primarily driven by the increasing number of hospital admissions globally. The market size is estimated to be ~US$ 11 billion by 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing with a CAGR of 10%. The Hospital Furniture Market is growing due to the increasing prevalence of chronic diseases and rising medical tourism. North America is the dominating region, owing to the rise in the adoption of advanced techniques for manufacturing hospital furniture.

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 two working weeks.

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

Market Taxonomy

By Product Type	Beds Tables Chairs Cabinet and Lockers Trolley and Stretchers Others (Waste containers, Scrub Sinks, Instrument Stands)
By Manufacturing Material	Metal Plastic Wood
By Application	Physician’s Furniture Patient’s Furniture Staff Furniture
By End User	Hospitals & Clinics Ambulatory Surgical Centers Diagnostic Centers Others (Mobile Clinics, Surgical Centers)
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, Italy, France, Spain) Asia Pacific (China, India, Japan, South Korea, Indonesia) LAMEA (Latin America, Middle East, Africa)
Key Players	Stryker Corporation Invacare Corporation Kovonax LINET J&J Medical Specialities Skytron Supplies Getinge Herman Miller Met-lak Promotal STERIS Corporation GPC Medical Limited

Global Machine Learning as a Service (MLaaS) Market is expected to reach USD 30 bn by 2028: Ken Research

 The Machine Learning as a Service (MLaaS) Market was valued at US$ 5 bn in 2017. It is estimated to capture a market size of US$ 10 bn by 2022 and is projected to reach US$ 30 Bn by 2028. It is expected to record a CAGR of ~20% during the forecast period, due to an increase in demand for cloud computing, as well as growth connected with artificial intelligence (AI) and cognitive computing.

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Key Growth Drivers

• ML is driven by the demand for cloud-based solutions, artificial intelligence, and the cognitive computing market. Machine learning’s primary pattern in IoT data is analyzing massive volumes of data using strong algorithms.
• The Machine Learning as a Service (MLaaS) Market is expected to grow as demand for a cloud-based solution increases, including growing demand for cloud computing, rise in adoption of analytical solutions, growth of artificial intelligence & cognitive computing market, increased application areas, and lack of trained professionals.
• According to research conducted by Microsoft Corporation in 2020, 85% of businesses have at least one IoT use case project. Nearly 94% of the respondents started pursuing IoT initiatives in 2021 leading to the creation of additional growth opportunities for Machine Learning as a Service (MLaaS) vendors in the market.

• The low availability of technically skilled personnel is expected to hamper the Global Machine Learning as a Service (MLaaS) Market growth during the forecast period along with the lack of data security faced by the organizations.
• Several organizations are unwilling to adopt ML technologies due to concerns regarding data security. For many regulated industry sectors such as banking, insurance, healthcare, and government, data security is crucial and any failure in data security may result in major problems.
• OneSpan, in a Global Financial Regulations report observed nearly half of surveyed banks focus on reducing and preventing cyberattacks and frauds, along with protecting sensitive data, as their top challenges. The overall fintech investments have reached US$ 98 billion in the first half of 2021, compared to US$ 121.5 billion in 2020
• COVID-19 caused an acceleration in the migration of public cloud solutions and some of the applications of AI to help in tracing patients during the pandemic. Since cloud service elasticity could meet the unexpected rise in demand, the need for AI services had seen growth, and many cloud providers offered Machine Learning as a Service (MLaaS). Several countries used population surveillance methods to track and trace COVID-19 cases.
• In South Korea, researchers used surveillance camera footage and geo-location data to track coronavirus patients. Using this data, scientists leveraged ML algorithms to predict the location of the next outbreak and inform the responsible authorities, helping to track diseases in real-time.

Key Trends by Market Segment

By Component: The service segment dominated the Machine Learning as a Service (MLaaS) Market in 2021 and is expected to maintain its dominance during the forecast period.

• The market for ML services is expected to grow due to increasing cloud applications and the growth of end-use industries in developing economies. To enhance the usage of ML services, industry participants focus on implementing technologically advanced solutions, for instance, the use of ML services in the healthcare sector for cancer detection, as well as checking ECG and MRI. ML services features, such as cost reduction, demand forecasting, real-time data analysis, and increased cloud use, are projected to open considerable prospects for the market.
• In December 2021, BigML added Image Processing to the BigML platform, a feature that enhances their components to solve image-driven business problems with ease of use. It labels the image data, trains and evaluates models, makes predictions, and automates end-to-end machine learning workflows.

By Application: Network analytics and automated traffic management segment accounted for the majority share of the Global Machine Learning as a Service (MLaaS) Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).

• Large amounts of data traverse network infrastructure on an everyday basis. The growth of this segment is attributed to ML’s capabilities and characteristics to tackle the exponential growth of datasets and act as a pivotal tool for network analytics and automated traffic management across various verticals.
• In 2021, Amazon released SageMaker Studio, the first ML IDE. This application provides a web-based interface through which clients can run all ML model training tests in a single environment. SageMaker Studio provides access to all development methods and tools, including notebooks, debugging tools, data modeling, and automatic creation.

By Enterprises: SME segment is estimated to capture the largest market share of the Global Machine Learning as a Service (MLaaS) Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).

• ML lets SMEs optimize their processes on a low budget in comparison with starting things from scratch. For SMEs the ‘pay for what you use or ‘pay as you grow system offered by most MLaaS providers makes it both budget-friendly and time-effective to integrate ML into their businesses while not requiring a team with specific technical capabilities. With the help of predictive analytics, machine learning algorithms not only provide real-time data but also predict future instances.
• SMEs use ML solutions for fine-tuning their supply chain by predicting a product demand and providing suggestions on the timing and quantity of supplies required to meet customers’ expectations.

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By End Users: The healthcare segment holds the largest market share in Global Machine Learning as a Service (MLaaS) Market in 2021.

• Growing adoption of ML solutions by various retail and healthcare service providers is expected to boost the Machine Learning as a Service market during the forecast period. Major market prospects are anticipated to be unlocked by the advantages provided by ML services, such as demand forecasting, cost reduction, real-time data analysis, and a rise in the use of the cloud market.
• In April 2021, Microsoft Corporation released an open dataset for health & genomics, transportation, labor & economics, supplementary, population & safety, and common datasets. This dataset aims to increase the accuracy of ML models using publicly accessible datasets. This also enables businesses to use Azure Open Datasets with its ML and data analytics solutions to offer insights at hyper-scale.

By Geography: North America accounted for the largest share among all regions within the total Machine Learning as a Service (MLaaS) Market, accounting for total market revenue.

• North America has been the most forward towards adopting ML services. The demand for MLaaS in the region can be attributed to the robust innovation ecosystem, strategic federal investments into advanced technology, and the presence of visionary entrepreneurs from globally renowned research institutions. Furthermore, this region has been extremely responsive to adopting the latest technological advancements such as integration technologies with the cloud, Big Data within ML Services.
• In November 2021, SAS added support for open-source users to its flagship SAS Viya platform. SAS Viya is for open-source integration and utility. The software user established an API-first strategy that fueled a data preparation process with ML.

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Competitive Landscape

The Global Machine Learning as a Service (MLaaS) Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The Machine Learning as a Service (MLaaS) Market's growth is heavily reliant on IoT-based applications. Nowadays, numerous cloud-based companies, including Amazon, Google, HPE, Oracle, and IBM are investing in Machine Learning as a Service (MLaaS), and governments are also making significant investments in Machine Learning.

Country-Niche players comprise about ~45% of the market in terms of the number of competitors, while regional players hold a share of ~35%. Some of the major players in the market include Amazon, Google LLC, HPE, Oracle Corporation, IBM Corporation, Microsoft Corporation, SAS Institution Inc. FICO, Yottamine Analytics, LLC, PREDICTRON LABS, BigML, Ersatz Labs, Inc, and among others.

Recent Developments Related to Major Players

• In June 2021, Hewlett Packard completed the acquisition of Determined AI, a San Francisco-based startup offering a software stack to train AI models faster at any scale, utilizing its open-source ML platform. Hewlett Packard integrated Determined AI’s unique software solution with its AI and high-performance computing (HPC) products to empower ML engineers to conveniently deploy and train ML models to offer faster and more precise analysis from their data in every industry.
• In December 2021, Cognizant, a key player in the MLaaS market acquired Inwisdom, an AI and ML service provider to improve the decision-making ability of businesses using analytics and ML platforms.
• In June 2022, Inflection AI secured one of the largest artificial ML funding rounds, totaling US$ 225 million. This ML investment is expected to improve ML, allowing for intuitive human-computer interfaces in the near future.

Conclusion

The Global Machine Learning as a Service (MLaaS) Market is forecasted to continue exponential growth during the forecast period, primarily driven by an increase in the adoption of IoT-based applications to ensure the accuracy of operational management using IoT platforms. Though the market is highly competitive with over 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 two working weeks.

Ken Research has recently published report titled, Global Machine Learning as a Service (MLaaS) Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the region's four major regions' North America, Asia Pacific, Europe, and LAMEA Machine Learning as a Service (MLaaS) market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Components	Software Tools Services
By Application	Marketing & Advertising Predictive Analytics Automated Network Management Fraud detection and risk Analytics Network Analytics and Automated Traffic Management Others
By Enterprises	SMEs Large enterprises
By End-User	Banking, Financial, Services, and Insurance IT and Telecom Automotive Healthcare Aerospace and Defense Retail Government Others
By Geography	North America USA Canada Mexico Europe Germany UK France Italy Spain Asia Pacific China Japan India AustraliaSouth Korea LAMEA Latin America Middle East Africa
Key Players	Amazon.com Inc Google LLC IBM Corporation Microsoft Corporation Oracle Corporation HPE SAS Institute, Inc. FICO Yottamine Analytics, LLC PREDICTRON LABS BigML Ersatz Labs, Inc

Global Door Entry Systems Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028): Ken Research

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According to Ken Research Analysis, the Global Door Entry Systems Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and is expected to reach approximately US$ 14 Billion by 2028.

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Key Growth Drivers

The increasing demand for smart homes and having safer and more secure business & commercial premises is helping the market grow.

• More and more residential and commercial premises understand the importance of having a secure environment with lesser risks from thefts and other safety concerns which is helping the market growth.

The high upfront investments that are required for the installation of advanced door entry systems and solutions act as a constraint to market growth.

• The low awareness levels among end-users regarding the complete benefits of the door entry systems and privacy concerns as well as data breach risks act as constraints for the market’s growth.

The COVID-19 outbreak had a negative impact on the demand for door entry systems as manufacturing activities came to a standstill due to the imposition of the lockdowns. Even though there was some growth in demand in terms of contactless biometric tools such as face recognition tools but overall, the market suffered due to the pandemic.

Key Trends by Market Segment

By Product: The Card-Based segment held the largest market share in the Global Door Entry Systems Market in 2021.

• The card-based access system uses smart cards which a person has to swipe at a security module that comprises a biometric sensor and an entry panel so that he can enter through the doors that have electronic locks.
• The segment dominated the market because of its cost-effectiveness, reliability over the biometric readers, and convenience of use.

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By Application: The Commercial segment held the larger share of the Global Door Entry Systems Market in 2021.

• In order to prevent unauthorized access, protect assets, and people, commercial establishments such as hotels, entertainment areas, malls, departmental stores, offices, banking institutions, data centers, etc. are adopting the door entry systems which is helping this segment dominate the market.
• Also, the door entry systems offer a safer and more cost-effective solution to these commercial users as compared to manned security systems.

By Geography: North America accounted for the largest market share in 2021 within the total global door entry systems market.

• North American region dominated the door entry systems market due to the presence of a large number of companies in this region, well-developed infrastructure, high awareness among the people, and growing demand for safe & secure systems.

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Competitive Landscape

The Global Door Entry Systems Market is highly competitive with ~300 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, Schneider Electric, Johnson Controls, Honeywell International Inc., Siemens, Bosch Sicherheitssysteme GmbH, IDEMIA, Legrand, Dormakaba Group, ADT, SALTO Systems, S.L. among others.

Recent Developments Related to Major and Emerging Companies

• In December 2021, IDEMIA deployed its first facial recognition, VisionPass, for access control for a large Japanese company in partnership with two technology companies SHODEN and Genetec. The integrated split-second contactless access control solution will be deployed at the entrance of the building of the client company.
• In January 2022, Johnson Controls launched Istar Ultra G2 which is its next-generation door controller system that is targeted towards commercial establishments such as manufacturing facilities, data centers, healthcare facilities, educational institutions, etc. due to its ability to provide higher cyber resiliency and faster processing power.
• In July 2022, Dormakaba Group announced its partnership with Schüco, a company dealing in smart buildings, doors, and windows. The combined entity wanted to work towards developing a door-integrated access management system and access control & digitization projects.

Conclusion

The Global Door Entry Systems Market is forecasted to continue a stable growth that is witnessed during the forecast period. Key trends driving market expansion include the increasing demand for smart homes and having safer and more secure business & commercial premises. The market is highly competitive with ~300 participants concentrating on expansion strategies through product innovations as well as acquisitions, partnerships, 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 Door Entry Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, Market is segmented by product and application. In addition, the report also covers market size and forecasts for the four major regions’ Door Entry Systems Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product

• Card-Based
• Video/Audio Systems
• Biometric Systems
• Others

By Application

• Residential
• Commercial

By Geography

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

Key Players

• ABB
• Schneider Electric
• Johnson Controls
• Honeywell International Inc.
• Siemens
• Bosch Sicherheitssysteme GmbH
• IDEMIA
• Legrand
• dormakaba Group
• ADT
• SALTO Systems, S.L.