Despite The Pandemic Global Fitness Services Market Is Set to Cross More Than $ 450 Bn in the Coming Five Years: Ken Research

                                                                                                                            Buy Now

Global Fitness Services Market which reached a value of more than USD 200 billion in the year 2022. The Fitness service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research.

1. The Global Fitness App Market Is Projected to Reach Almost USD 15 Billion By 2027.

To Know More about this report, download a Free Sample Report

The market has witnessed an increase in demand in the past few years owing to the growing penetration of smartphones and the emergence of advanced technologies in the healthcare sector. Instead of the typical brick-and-mortar gyms that provide long-term subscriptions, digital-focus gyms with a business strategy of retail locations and online applications appeared to seize this potential in 2022. Since there are no yearly membership costs, anybody may use the gym and the lessons whenever they choose, unlike typical gyms that charge a set upfront amount regardless of use. As a result, technology-enabled gyms that provide both online and offline alternatives are gradually replacing traditional gyms across the globe.

2. Almost 3% of the population globally are gym members: Developed Nations are at the Top.

Visit This link:- Request for Custom Report

The internet has greatly increased the popularity of the fitness movement, especially among younger people. Fitness KOLs are developing and taking on a more important role in encouraging millennials towards a healthier lifestyle as a result of the trend of health and wellness being in line with rising affluence. 22.00% of the population of Sweden and Norway are gym members, the highest penetration rates globally. In a close third, there is the US, with around 21% of Americans are gym members.

3. Fitness Industry Revenue Declined by More Than 55% in 2020: How is The Global Fitness Industry Prospering after COVID-19?

The World Fitness Market expansion was hampered by the coronavirus epidemic, which also constrained the sector's growth. Prior to the pandemic, the market for fitness services was growing, but because of the lockdown, it faced several difficulties. Roughly 30% of fitness club members are expecting to attend three to four days per week, down from approximately 40% pre-COVID-19. The industry is now prospering. The market's expanding growth potential have increased the sector's chances of expansion. The industry has been developing more quickly, and it will continue to expand across the globe.

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

Global Fitness Service Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

How will digital disruption enable Egypt’s Auto Finance Market to achieve double-digit growth by 2027?

 Buy Now

Auto finance industry has seen substantial growth in credit disbursement backed by accelerated population growth, vehicle sales, and a surge in financial penetration. Presently, Egypt Auto Finance Market is growing at a CAGR of 18%, 20216-2022. The sector is driven by Purchasing power of individuals and the risk appetite of the financial service provider. Also, the entry of women drivers has led to an increase in total cars sold, and hence the credit disbursed. However, digital disruption will act as a major catalyst behind the development of the auto finance market in the coming years. Here, we have outlined the key reasons on how digital disruption will help Egypt’s Auto Finance Market to reach double-digit growth by 2027.

1.  Growing population and rapid migration to urban areas is leading to an increase in demand for personal vehicles IN Egypt

2.  In 2021, there were 5.4 Mn cars in use and 53.1 cars per 1,000 people in Egypt, which is expected to increase to 56 cars in operation per 1,000 people by 2025

3.  Customers in Egypt can avail auto loans from Banks and NBFCs with an average loan period of 3-5 years

Request a Call with Expert to know more about the business model

4.  Large Public Sector Banks including National Bank of Egypt, Bank Misr, and Banque Du Caire rules over 40.0% of the financial banking system in Egypt

5.  Dominance of unorganized channel and favorable government initiatives has boosted the growth of auto finance industry in Egypt

6.  Growing population, and increasing demand for passenger cars will act as a key strength to the Egypt auto finance market; low internet penetration may affect the market

7.  In the coming years, Digital disruptions will make the industry more efficient and enable the market to expand with double-digit growth

To Know more about this Whitepaper, Visit this link:-

Egypt Auto Finance Market

Related Reports By Ken Research:-

Thailand Auto Finance Market Outlook to 2026F

Mexico Car Finance Market Outlook 2027F

Nigeria Car Finance Market Outlook to 2027F

Australia Car Finance Market Outlook to 2028F

“From Click to Doorstep”: 3 Cutting Edge Technological Trends Boosting the Global Ecommerce Logistics Market to Reach $1 Trillion: Ken Research

                                                                                                                        Buy Now

Global Ecommerce Logistics Market was valued at around ~$200 Bn in 2022, boosted by the Covid-19 impact as it helped enterprises to address extensive demand is eyeing to become a $1 Tillion industry by 2027. Let’s explore some of the reasons addressing the same.

1. Increasing digitization and access to smart phones are boosting the Ecommerce market.

To Know More about this report, download a Free Sample Report

Around 60% of e-Commerce sales are conducted through mobile apps and this general trend is expected to increase in the future. Making brand interaction with the customer much efficient and easy to sell the product to the customer. With 5 Billion people having internet access, this becomes one of the biggest contributor of growth to the ecommerce logistics market.

2. “Accelerating E-commerce Growth”: The Dominance of Digital Payment in Online Shopping Industry.

Visit This link:-Request for Custom Report

Over the past decade, the e-commerce industry has experienced significant growth, with the online shopping becoming increasingly popular among consumers. The global e-commerce sales reached ~$ 4 trillion by 2021, with an estimated 2.14 billion people worldwide make online purchases. With this surge in online shopping comes a corresponding increase in digital payments, which have become the dominant player method in the industry. In 2020, the value of digital payment worldwide was estimated at ~5.12 trillion, which is a major factor the growth in the ecommerce logistics market globally.

3. Buy Now, Pay Later FinTech is giving a major push to the Ecommerce Logistics Market.

According to a report by Forbes, the pace of BNPL growth among Gen Z has increased by 600% since 2019, while it has tripled for Millennials. Although Gen X and Baby Boomer adoption rates aren't far behind, the rise of BNPL among younger generations suggests that it may eventually replace cash as the main form of payment. This is becoming a major factor for the growth in ecommerce logistics market.

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

Global Ecommerce Logistics Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

Feasting on Success: Global Catering Market Hits over $150 Bn in 2022, but Will the Growth Trend Continue Beyond? – Ken Research

 Buy Now

Global Catering Market which reached a value of over $150 Bn in the year 2022. The food service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research

1. Contract Catering is the main revenue generating segment in Global Catering Market.

In the following two years, the global market for contract careering is predicted to expand at a 4.02% CAGR. To provide culinary services for staff, employees, guests, and customers, large-scale organizations such as educational institutions, corporations and industries, hospitals, and event planners utilize contract caterers. Contract catering services include the benefits of increased accountability from the caterer, consumer convenience, and legal compliance with food safety and hygiene regulations. Thus, one of the most widely used categories of catering services is contract catering. According to a survey, more than 50% of respondents stated they would buy things that were made specifically for them.

To Know More about this report, download a Free Sample Report

2. COVID-19 is one of the most significant threats that the catering industry has ever faced.

The catering industry has been fundamentally threatened by the pandemic caused by COVID-19. The catering companies that survive are the ones that understand how the world will return and plan accordingly. These catering companies started adapting accordingly so they can overcome this challenge, some of these techniques are

Visit This link Request for Custom Report

3. The market is expanding as a result of consumers' rising demand for fresher, healthier foods.

Customers' growing preference for fresher, healthier foods is boosting the global catering services market. Catering service providers have shifted their focus to providing healthier meals made in-house with fresh ingredients. Specialized catering services are becoming more popular as global multinational corporations rapidly expand in emerging markets. Catering businesses now offer healthy dining options such as organic meals, a balanced vegan diet, and healthy snacks as a result of the worldwide trend of increasing health consciousness.

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

Global Catering Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

Global Auto Finance Industry set to Skyrocket to $400 Bn by 2027 – is the Industry prepared to Blast off to New heights or will it encounter Turbulence? : Ken Research

 Buy Now

The global auto finance market was valued at USD 250 Billion in 2022 and is projected to grow to USD 400 Billion by 2027, growing at a robust CAGR from 2022 to 2027.  

Amid the COVID-19 pandemic, the global demand for new vehicles and used vehicles witnessed a significant slump in 2020, as manufacturing and sales activities were halted for several months in the first half of the year. However, since the latter half of the year, the demand for vehicles has witnessed significant growth, which has fueled the automotive financing market and is expected to continue to fuel the market during the forecast period.

To Know More about this report, download a Free Sample Report

1. More than 10 million electric cars were on the world’s roads in 2022 with battery-electric models, driving the expansion of auto finance further

After a decade of rapid growth, in 2022 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2022. China, with 4.5 million electric cars, has the largest fleet, though in 2022 Europe had the largest annual increase to reach 3.2 million. With the rapid expansion of electric vehicles in the automotive sector, the Auto Finance Industry is projected to further see new heights.

2. The car finance sector has been prepared for change for a long time. Could this be the time at last?

Visit this link: - Request for Custom Report

Trends show that consumers will increasingly complete the entire automotive purchase online. About 92% of the population research cars online before making a purchase. By putting all the information online, they are empowering consumers with innovative mobility and transparent financing alternatives. Technology is redefining the automotive sales and finance landscapes. The evolution of such mobility and financing options coupled with increasing regulatory oversight, operational risk management, and consumer expectations are dramatically changing the rules of the road, forcing industry participants to redefine and adapt to their business approaches.

3. Backed by the digitalization of processes in the Auto Finance Sector, Ally Financial is the major player in the Auto finance market

Ally is one of the largest car finance companies in the U.S., providing car financing and leasing for 4.5 million customers and originating 1.4 million car loans annually. The company has sold more than 5 million vehicles, including 270,000 vehicles sold in 2019 via its Smart Auction online marketplace for auto auctions, launched in 2000. Moreover, the digitalization of processes, lowering interest rates, and high geographical presence are a few key reasons behind the company’s success.

4. What is keeping the auto finance market at the forefront? Major collaborations between the Auto finance companies are driving the market further

The auto financing department of Volkswagen AG as well as Ford Motor Company has announced plans to rescind offering credit to new customers and dealers in India. Other deal includes the Mitsubishi UFJ Lease and Finance merging with Hitachi Capital. The companies are planning to expand their operations on a global level to increase their market share. Moreover, Mahindra Financial Services has acquired 58.2% of Sri Lanka-based Ideal Finance with investments worth millions.

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

Global Auto Finance Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

The Future of the AED 17 Bn Pharmacy Retail Industry of UAE. Can the UAE be able to achieve the target? : Ken Research

 Buy Now

UAE Courier, Express & Parcel Market, which surged ahead with over 11.2% year-on-year growth in 2020, is expected to grow almost three times by 2025, as per findings released by Ken Research.  

Due to inherent advantages that make it ideal for becoming a hub for express delivery shipments, the UAE presents itself as an appealing destination for the CEP market. Its consumer demographic is made up of a young, internet-savvy population (91% internet penetration rate in 2020), geographical advantages, and developed infrastructure. This is supported by the presence of high consumer confidence, as well as increasing consumer preferences for online shopping, which has aided the growth of the CEP market. Furthermore, the pandemic's surge in online shopping and E-Commerce products has boosted the CEP market landscape.

Click to Read Full Article: UAE Courier, Express & Parcel Market

1. COVID-19 Impacted Positively the Number of E-commerce Orders due to the shift in preference among UAE residents from Physical to Online Stores.

To learn more about this report Download a Free Sample Report

With initial concerns regarding disruptions in supply chain, logistics industry of UAE displayed resilience and adapted to ‘new normal’ delivery techniques. Despite the impact of Covid-19 across businesses, UAE CEP market had registered healthy growth rates, with the number of shipments increasing at a rate of 23.5% over 2019. Covid-19 has pushed most of the retailers to move to offline to online (O2O) method of sale. In the year 2020, more than 1 in 3 digital service consumers started using a new online service due to Covid-19 and ~90% of these consumers intend to continue using the service beyond the pandemic.

2. Increased government support for digital penetration among Emiratis, combined with favorable demographics, has aided the growth of the UAE CEP market.

Government initiatives such as increasing mobile and internet penetration, promotion of innovation, cash less economy and entrepreneurship has led to financial inclusion which has accelerated the growth of courier, parcel and express market. Additionally, Ease of Doing Business and friendly taxation policies have aided to the growth. UAE has emerged as a transshipment hub which has improved logistics services of the economy. The advanced logistics serve as a backbone for the growth of courier, express and parcel market. Moreover, the internet penetration in UAE has reached 91% in 2020 owning to high share of young population and government initiatives such as Dubai Smart City 2021.  

3. Dubai or Abu Dhabi region dominate the domestic trade lane due to a Modern and Strong Physical Infrastructure along with an Able Workforce.

Visit this Link: – Request for custom report

Construction of various free zones such as Dubai Maritime City & Dubai Logistics City and expansion of existing ports and free zones such as JAFZA and Hamriyah Free Zone has acted as a catalyst to enhance Dubai as a major sourcing hub for international shipments. This has increased the trade between different parts, and is contributing towards the increasing market share of CEP industry in the country. Furthermore, expatriates contribute ~80% to the overall population in the country, which increases parcel and delivery services in the country. Also, most of the corporate hubs are based in Abu Dhabi, leading to a greater number of courier and parcel deliveries in the region.  

4. Customers are willing  to pay a premium amount for faster deliveries in UAE.

Request free 30 minutes analyst call

A growing group of customers lay emphasis on fast and reliable express delivery services. They are willing to pay a premium amount for getting the delivery on the same day. Moreover, increase of Emirati purchasing power has provided a boost to same day delivery services in UAE. More than 60% online shoppers are willing to pay premium for speedy delivery in UAE. Considering the fact that UAE is a small country, the standard delivery period is within 72 hours. Some of the international inbound shipments might take up to 7-10 days for reaching the customer’s doorstep in UAE. 

Why second-hand cars are becoming people’s first choice in Egypt?

 Buy Now

Egypt is of the most populated country in the Arab world which is growing faster than other MENA countries leading to an increase in the target audience of the automobile industry. As per Ken Research findings, there are around 11 Mn licensed vehicles in Egypt, almost half of which are private cars and these numbers are poised to grow rapidly as speedy migration to urban areas is causing heavy demand for personal cars in the country.

But here is the catch- Egyptians are more likely to be inclined towards second-hand or used cars when it comes to buying personal vehicles. In this segment, we have talked about those factors that have brought significant shifts in consumer demand and given an edge to the Used Car industry in Egypt.

1. Growing Population and Rapid Migration to Urban Areas causing an Increase in Demand for Personal Vehicles in Egypt

2.  3 in 4 Consumers in Egypt prefer to buy Used Car due to several factors, including the cost of license, the decline in car’s value once they are licensed, and low price of spare parts, etc.

Request a Call with Expert to know more about the business model

3.  Social media plays a major role in generating leads for dealers & end consumers by virtue of offering advertisements at a lower cost with respect to other traditional marketing channels

4.  Online Auto portals are also stepping in and offering a plethora of services to solve the pain points faced by customers to drive more sales to the market

5.  Also, flexible contractual Terms in financing used cars are further accelerating the growth of the used car industry in Egypt

To Know more about this Whitepaper, Visit this link:-

Egypt Used Car Market

Related Reports By Ken Research:-

France Used Cars Market Outlook to 2027

UK Used Car Market Outlook to 2026F

Turkey Used Car Market Outlook to 2026F

“The Cloud Revolution in the Making”: Global Cloud Service Market on track to exceed $600 Bn by 2027: Ken Research

 Buy Now

Global Cloud Service Market was valued at around ~$300 Bn in 2022, and is eyeing to become a $ 600 billion industry by 2027. Here are some of the major factors suggesting the same.

1. Software as a Service (SaaS) drives explosive growth in the Global Cloud Service Market.

To Know More about this report, download a Free Sample Report

Software as a Service (SaaS) has become a key driver for the global cloud Service Market, with businesses of all sizes leveraging SaaS Solutions to optimize their operations, reduce cost and improve agility. According to a survey, 73% of the enterprises say that nearly all of their application will be SaaS by 2021. Overall, the affordability, ease of adoption, flexibility and scalability of SaaS solutions are driving the popularity in the Global Clouds Service Market.

2. Billion Dollar Bet – Microsoft, Google and Amazon increase investment in the Cloud Service Market.

In 2020, Microsoft announced that it would invest $1 Billion in OpenAI, an artificial intelligence firm, to develop new AI capabilities for Azure. Similarly, Amazon announced that it would invest $2 Billion in India to expand its cloud services business. Furthermore, Google also announced to invest $10 billion in India over the next 5 to 7 years to expand its cloud service business in the country. Venture Capitalists are also investing in the cloud services. For instance, in 2020, snowflake, a cloud-based data warehousing company, went public and raised $3.4 billion in its initial public offering. This was one of the largest IPOs for a cloud service company in the history.

3. The Boundary Between Public and Private Clouds is Blurred with Hybrid Cloud

Visit This link Request for Custom Report

Today, major cloud providers such as Microsoft, Amazon, and IBM are extending their use of “hybrid” models that combine the best of both worlds (Private as well as Public). Data that must be accessible quickly and frequently, such as by customers, can be stored on public AWS or Azure servers and accessed via tools, apps, and dashboards. Data that is more confidential or mission-critical can be stored on private servers with access controlled and processed using proprietary programs. According to a survey by IDG, more than 90% of respondents reported using some form of hybrid cloud infrastructure. Hybrid Clouds are fueling growth in global cloud service market as they very agile, easily scalable and cost effective.

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

Global Data Center Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

What is the future market Potential of the Last Mile LEVs in KSA?

 Buy Now

Favorable government policies and support in terms of subsidies and better availability of charging infrastructure to drive the LEV sales in KSA Market.

EVs are slowly gaining traction with less than 0.5% of vehicles deployed as PHEVs in Saudi Arabia. Efforts to create a market for EVs are consistent with the Saudi Crown Prince Muhammed bin Salman’s Vision 2030 plan, which aims to reduce the country’s dependence on oil, diversify the economy, and implement a range of social reforms. The EV infrastructure in Saudi Arabia is still lagging behind as the government is yet to install charging stations in public areas. Here is an overview of the future market potential of last-mile LEVs in KSA and also how new types of vehicles like LEVs are going to help e-commerce retailers to overcome the last-mile problem.

1. The advent of e-commerce, food and grocery deliveries is leading to a rapid increase in demand for last-mile deliveries

2.  However, most e-commerce retailers in KSA struggle with last-mile delivery as delays, reduced success rate & difficulty cash-on-delivery (COD) handling

3. E-com Retailers need to come up with solutions to solve the LMD problem in an efficient way to meet the growing customer demands

Request a Call with Expert to know more about the business model

 4.  Companies such as Saee and Aramex aiming to Disrupt LMD in KSA to resolve the issues

5.  New types of vehicles like LEVs and new logistic structures are emerging to address the new paradigm in E-Commerce Industry

6.  LEVs adoption is expected to reach 10% in the Last Mile Delivery Fleet by 2027

To Know more about this Whitepaper, Visit this link:-

Light Electric Vehicle industry in KSA

Related Reports By Ken Research:-

Vietnam Car Rental Market Outlook to 2027F

Kuwait Lubricant Market Outlook to 2027F

Indonesia LEV Market Outlook to 2026F

What is driving the Bags and Luggage market in KSA? – 7 key tailwinds and Catalyst: Ken Research

Buy Now

Saudi Arabia has been strategizing to shift its economic dependency from oil and focus on non-oil sectors. Promoting tourism is one such important initiative of the country. Saudi Arabia is one of the major destinations of religious gatherings for Muslims with one of the largest religious congregations of Hajj and Umrah. As per Ken research findings, ~20 Mn tourists visit Saudi Arabia in a year for religious reasons with 2.4 Mn visiting Hajj in 2019. The growing tourism has also cushioned many industries and the Bags and luggage market is no exception here. The industry is growing at a positive growth rate but has a huge potential to grow more in the coming years.

The interesting note is- rising tourism is not “only” the growth driver of the KSA bags and luggage market. To find out what is contributing towards the expansion of the bags luggage industry in KSA, keep reading!

1. The Economy of Saudi Arabia is growing at a CAGR of 3.5% with Rapid Growth in Non Oil Sectors such As Tourism, Retail Business and Manufacturing

2. Due to the Global Pandemic, tourism was on hold due to which KSA Bags and Luggage Market also saw a Significant Dip in Revenues in 2020

3. Presently over ~35 Million Saudi & Non-Saudi Population of Different Income Group presents a Huge Potential for Different Variants of Bags and Luggage present in the Market

4.  Imported and Locally manufactured Bags and Luggage are effectively distributed to all Retail outlets via Effective Distributive channels operational throughout KSA

5. Seasonal Discounts during festive months of Eid and Ramadan, New years and Christmas are offered for high influx of customers in the Stores

Request a Call with Expert to know more about the business model

6.  People of KSA are being aware of the fashion trends by Influencers and Bloggers trend, Online Marketing Techniques in KSA which is boosting the demand for stylish yet functional bags and luggage in KSA

7.  Also, the growth of E-commerce, FDI, rising Tourism, and surging Young and Women population will further fuel the growth of the Bags & Luggage market in KSA

To Know more about this Whitepaper, Visit this link:-

Saudi Arabia Bags & Luggage Market

Related Reports By Ken Research:-

Brazil Bags and Luggage Market Outlook 2027F

Australia Bags and Luggage Market Outlook 2027F

India Luggage and Bags Market Outlook to 2025