Scenario of Mortgage Funding in Saudi Arabia in 2023 : Ken Research

 Amidst global uncertainties, Saudi Arabia emerges as a safe haven for investors. The country's fading pandemic and rising energy prices have propelled the economy to growth rates not seen in years.

The banking sector is undergoing a transformative shift, fuelled by the surge in oil prices and increased government revenues.

Story Outline

• As the world entered 2022, optimism filled the Saudi banking sector with strong revenue growth and robust asset quality.
• Major Banks like Al Rajhi Bank and Saudi National Bank reported significant income rises, reflecting a positive outlook.
• However, despite challenges like the outbreak of war in Ukraine, the optimism remains steadfast. Delayed projects and stalled construction pose obstacles in financing initiatives.
• The Ministry of Education has withdrawn unfinished projects due to delays, leading to potential legal actions against contractors.
• Pandemic disruptions and limited financing options contribute to construction slowdowns and project postponements, hindering progress.

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1. Saudi Arabia: A Safe Haven amidst Global Uncertainties

Amid the ongoing war in Europe, investments in less risky environment are becoming harder to find by investors, and the kingdom of Saudi Arabia has shown to be the most risk free places to invest in today's time.

The rise in oil prices is supporting the government's financial reserves and helping the banking sector, which is experiencing a historic shift in ages.

One major success story is Al Rajhi Bank, the country's largest bank, which announced a significant net income increase of about 40% in 2021, equal to SR14.74 Bn.

The start of 2022 brought about optimism in the Saudi banking sector, with analysts predicting strong revenue growth, robust asset quality, and an array of government projects that would drive loan growth.

These predictions were validated as Saudi National Bank, the second-largest bank, recorded a net income increase of over 10% at SR 12.6 Bn.

A month or so later, even with the outbreak of war in Ukraine and the spectre of stagflation, that optimism is largely undiminished.

2. Delayed Projects and Stalled Construction leading to disturbance in financing of projects

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• The Ministry of Education in KSA has withdrawn 26 unfinished projects from contractors due to delays.
• They have authorized education departments to take legal action against these contractors.
• The ministry expects the completion of 200 projects before the upcoming academic year, which will enhance services for citizens and replace substandard buildings.

The combination of COVID-19-related disruptions and reduced financing options can lead to delayed construction projects or even complete stall in some cases. Construction sites may face temporary closures or slowdowns due to lockdown measures, labour shortages, and supply chain disruptions. Additionally, developers may postpone or cancel projects due to financial constraints, exacerbating the impact on the pace of construction.

According to Ken Research, the cancellation of the cost-of-living allowance for civil servants and pensioners necessitates a realignment of spending allocation for housing initiatives. As Saudi Arabia navigates these challenges, the country's resilience and commitment to Vision 2030 continue to drive progress. By addressing funding disruptions and implementing strategic measures, the mortgage funding landscape in Saudi Arabia can adapt and thrive, supporting the country's ambitious goals for the future.

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KSA lending market

Exploring Trends and Opportunities in the Global Dog Food Market: Ken Research

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What Is The Size Of Global Dog Food Industry?

Global Dog Food market is growing at a double digit CAGR in 2017-2022 and is expected to reach USD ~ Bn by 2028. The Global Dog Food Market is largely driven by rising disposable income in developing economies, increasing availability of organic products in a variety of flavors and the inclusion of essential ingredients such as probiotics and antioxidants are factors that are likely to induce a positive impact on the global market growth.

Global Dog Food Market is at a growing stage. It is a fragmented market with the presence of many dog food companies. The market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more customized pet food platform.

Few major global dog food players are Colgate Palmolive (Hill's Pet Nutrition), General Mills, Mars Incorporated (Virginia, U.S.), Nestle S.A. (Vevey, Switzerland), The J.M. Smucker Company (Ohio, U.S.), Diamond Pet Foods etc. The highest growth is expected from the majorly North American region. The high growth rate can be attributed to many middle-income groups in developing countries like India, a preferred market for companies. An increase in awareness and lifestyle changes is the fundamental driver of Pet market growth. Customers are more likely to remain loyal when their needs are customized.

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Global Dog Food Market By Food Type

The Global Dog food market is segmented by food Type. Dry food was the most dominant in 2022.

Global Dog Food Market By Sales Channel

The Global Dog food market is segmented by Sales channel. Supermarkets & Hypermarkets was the most preferred form of channel in 2022 in Global dog food market.

Global Dog Food Market By Region

The Global Dog food market is segmented by Region into North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific held the major market share in Global Dog food market in 2022.

Competition Scenario In Global Dog Food Market

In Global Dog Food Market, there are several players operating in the market, and top players account for a substantial share in the market in terms of revenue. Global Dog food market is highly fragmented without dominant players. Few players are Mars Inc., Nestle Purina, Colgate Palmolive (Hill's Pet Nutrition), General Mills, The JM Smucker Company which have more customers than others. The global dog food market is highly competitive, with multinational companies, regional manufacturers, and niche players vying for market share. Innovation, premium offerings, and targeted marketing campaigns are key strategies to stay ahead. E-commerce platforms also play a significant role in the competition, allowing brands to reach a global audience. As pet ownership rises and consumer preferences evolve, the competition is expected to remain fierce, driving further market expansion.

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What is the Expected Future Outlook for the Overall Global Dog food Market?

The Global Dog food market was valued at USD ~ billion in 2022 and is anticipated to exceed USD ~ billion 2028, witnessing a robust CAGR during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Dog food market is driven by demand for rising disposable income in developing economies, increasing availability of organic products in a variety of flavors and the inclusion of essential ingredients such as probiotics and antioxidants are factors that are likely to induce a positive impact on the global market growth. The government has set forth ambitious strategies to leverage digital technologies extensively in enhancing its services, processes, and decision-making capabilities, as well as facilitating efficient data sharing with the public. Similarly, in response to the increasing demand for sustainable and eco-friendly pet food packaging solutions, dog food companies have been introducing novel and innovative products into the market.

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The concept of sustainable packaging is proving to be a highly beneficial investment and a responsible choice for the environment when it comes to dog food. With growing concerns about the safe handling and recycling of pet food packaging materials, there is a push for new policies and legislation that require businesses to take responsibility for recovering and recycling their dog food packaging. AI and cognitive learning technologies have started to play a decisive role and are poised to be game-changers in several avenues.

During the forecast period of 2022-2027, it is anticipated that the global dog food market will grow at a massive CAGR by 2027. Growing concerns surrounding pet obesity and excessive sugar intake are prompting various governments to adopt plain packaging strategies for dog food products. By implementing plain packaging regulations, authorities aim to raise awareness about healthy pet nutrition and encourage responsible choices among dog owners.

For More Insights On Market Intelligence, Refer to the Link Below: –

Global Dog Food Market Outlook to 2028

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Indonesia Animal Health Market Outlook to 2019

Asia Pacific Animal Feed Additives Market Outlook to 2018

China Animal Feed Industry Review to 2018

The US Identity Verification Market is going through a change and will have massive growth by 2028: Ken Research

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The US Identity Verification Market is varyingly segmented under End-User industry such as financial market and gaming/gambling market etc. is based on matching a user’s identity with their Government ID proof. The US Identity Verification market is projected to reach ~$ 13 Billion by the year 2028.

STORY OUTLINE

• With the increasing demand for security and rising regulatory compliances, US Identity Verification market makes some propulsions for growth.
• With technological advancements like Artificial Intelligence (AI) and Machine Learning (ML), US Identity Verification market soars higher.
• The shift towards digital transformation, post pandemic, has resulted in the increase in use of verification, resulting in the growth of the market.
• Rise in customer expectation is driving the US Identity Verification Market to follow strict workflow.
• Digital transformation demands the need for better security.

According to Ken Research, the US Identity Verification market is undergoing major changes driven by many factors to change the ongoing digital landscape. With the changing times, inhabitants have largely shifted towards digitization and adoption of online or e-services, which led to the demand for better security and high end verification methodologies. This particular shift towards digital processing has led to growth within this industry.

• The relentless rise in fraudulent cases, rapid rise of online theft and presence of hackers has led the US Identity Verification market to incorporate much more sophisticated technologies.
• With growing number of customers in e-services, number of frauds and amount of cases has gone up, which has driven the industry to acknowledge to those concerns and build adequate measures to prevent any mishaps in the future.

1.With the increasing demand for security and rising regulatory compliances, US Identity Verification market makes some propulsions for growth.

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• Due to a massive digitization process, identity verification has become that much increasing in number, leading to overall growth, making 90% of the people undergo identity verification, starting from the gates of IT offices having fingerprint to bank accounts that ask for KYC while creating a new account.
• At least 70% of Americans are using Fingerprint Scanners for various purposes which is one of the most quickest and complex protocol following identity verification method. With more IT sectors developing much simpler fingerprint scanners, people can easily shift many identities verification to a simple touch on the scanner, resulting in a overall growth.
• Since Covid-19 and complete digitization occurred, the need for online purchasing has made the amount of online verification rise. With a rise of 12% from the previous years, the market has been ever-growing. With newer methods like biosensors, facial recognizers etc. are helping make the job that much simple.

2.With technological advancements like Artificial Intelligence (AI) and Machine Learning (ML), US Identity Verification market soars higher.

• In a recent times, Dan Aiello sheds light on "the new normal" and explores its potential evolution in the context of identity verification and digital transformations. This is basically the change into online or E-verification for all types of platforms, which at least 90% of the population is currently using.
• The US Government has made many legislative inclusions which are to pave the way for an unbiased Artificial Intelligence as a core digital identifier, among which, the White House has developed a blueprint about a bill of right for AI stating that people should never face discriminations from algorithms, making people’s engagement increase in amount.
• A giant in the financial services sectors, Stripe, is now incorporated with AI and Machine Learning (ML), which takes a live selfie of the user and compares it with their pre-kept government ID, making the verification much simpler and easy to use for every people, keeping its access to everyone.

3.The shift towards digital transformation, post pandemic, has resulted in the increase in use of verification, resulting in the growth of the market.

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• As the pandemic situation brought about a global digitization in almost everything, business and industries started to adapt to the new normal, showing a surge in the online activities, remote work, digital services etc. all marking a growth in the verification process.
• The increase in E-commerce, virtual meetings, online banking and telemedicine, marked the need for a greater amount of scalable verification in order to prevent the previously occurring fraudulent activities, theft and protecting the exact data.
• The rise in KYC (Know-Your-Customer) and AML (Anti-Money-Laundering) has led to the updraft of KYC-as-a-Service solutions, which pre-verified identity data, streamlining the on boarding and ensuring that regulatory requirements are met.

4.Rise in customer expectation is driving the US Identity Verification Market to follow strict workflow.

• With much more enhanced security like real time scanning, US identity verification market is making their ways towards a much safer and secure border for transaction and e-commerce platforms, having a complex firewall to double the security.
• With a seamless user experience making sure that customers are getting zero disruption, full automation and having the ease of multi-channel verification allows the customer to be flexible and use a variety of platforms, making the growth much more.
• With complex AI algorithms, hacking and money laundering are reduced by 5% every 6 months, depicting a much greater decrease in fraudulent cases and increase in the growth by the year.

CONCLUSION

According to Ken Research, the global pandemic has paved the way for digitization; a new world which has much faster transaction and faster processing which leads to increase in frauds and hacking, leading for the identity verification market to flourish with it. By the year 2028, the US Identity Verification Market will have the upper hand dominance.

The UAE Café and Coffee Chain Market Gets a Jolt: Players Reshape the Game? : Ken Research

 The UAE Café and Coffee Chain Market boasts a diverse landscape, encompassing both renowned chain outlets and standalone specialty cafes. UAE has witnessed rise of multiple global and domestic cafés and restaurants over the years.

STORY OUTLINE

• UAE Cafe Industry Leadership: Starbucks continues to lead the UAE cafe market with the highest market share and an extensive network of 285 outlets, closely followed by Costa Coffee with 144 outlets.
• Acai Bowl Industry Success: Acai bowl vendors are employing clever promotional tactics, offering reward points, loyalty programs, and enticing discounts to maintain their stronghold in the market. Acai bowl orders account for an impressive 70% of all orders in an average acai chain.
• Food Delivery Platforms Impact: Major food delivery platforms like Talabat, Deliveroo, Careem Now, Noon Food, and East Easy have transformed the UAE cafe and coffee chain market, offering diverse restaurant choices and cuisines with convenient doorstep delivery options.
• Talabat's Dominance: Talabat emerges as a dominant player in the food delivery landscape with over 10+ million downloads, catering to customers across major cities and regions in the UAE.
• Careem Now's User Base: Careem Now has established a strong user base with more than 12+ million downloads, with 22% of its users also utilizing Deliveroo and 33% opting for Talabat, showcasing varied preferences among its customer base.

The UAE Café and Coffee Chain Market present a diverse landscape, comprising renowned chain outlets like Starbucks, Costa Coffee, Saddle, and Nova. Alongside these, standalone specialty cafes such as Just Fresh, The Juicery, and Common Ground offer health-based smoothies and beverages. Additionally, acai bowls and frozen yogurt lovers can savor delicious treats at Oak berry, Acai Spot, and Pinkberry, catering to diverse tastes in this thriving industry. The UAE Cafe and coffee chain market is spearheaded by over 700+ outlets.

1. Starbucks Takes the Throne in UAE Cafe Industry

Starbucks stands tall as the UAE cafe industry leader, boasting the highest market share among all cafes. With an impressive network of 285 outlets across the country, Starbucks has solidified its dominance. Following closely is Costa Coffee, with 144 outlets. The evident preference for coffee chains in the UAE creates a promising window of opportunity for aspiring players to enter the market and capitalize on this thriving industry. In 2022, The Alshaya Group, headquartered in Kuwait, celebrates a significant milestone as it inaugurates its 1000th Starbucks store in the MENA region, located in Dubai, UAE.

2. Acai Bowl Vendors Score Big with Clever Promotional Tactics!

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Forging partnerships with corporates in the UAE through Rewards and Recognition (R&R) programs, featuring discounts, digital gift cards, and loyalty memberships, proves as an effective strategy to reach a vast audience in one go. Acai Bowl orders constitute an impressive 70% of the total orders in an average acai chain.

Players like Project Acai, Vitality Bowls etc. all have their loyalty programs where they offer reward points to customers, Starbucks has also launched its card on which money can be loaded to make purchases.

Oak berry offers 20% off on purchase of 2 buckets or a free complimentary bucket. Pinkberry provides bundle offers of 4 small cups or mini cups of frozen yoghurt along with buy 1 get 1 offer.

3. How Food Delivery Platforms Impact UAE Café and Coffee Chains!

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In the UAE, the major food delivery landscape is dominated by prominent platforms like Talabat, Deliveroo, Careem Now, Noon Food, and East Easy. These industry giants have revolutionized the way people experience dining, offering a wide range of restaurant choices and cuisines delivered right to their doorstep.

Talabat is one of the leading food delivery platforms in the UAE, offering a vast selection of restaurants and cuisines for customers to choose from. It has a strong presence in major cities and regions, making it a go-to option for food delivery services. In case of Talabat, only 18% of the users use some other brand. Talabat has huge downloads over 10+ million.

Careem Now, part of the Careem ride-hailing app, has also ventured into the food delivery space in the UAE. It offers a seamless integration with its existing app, making it a convenient choice for users.

Careem Now, which was established in 2012, has garnered a robust user base with over 12+ million downloads. Among its users, 22% also utilize Deliveroo for their food delivery needs, while 33% opt for Talabat, showcasing a diverse range of preferences among its customer base.

In conclusion, the UAE Cafe and Coffee Chain Market showcase a dynamic and diverse landscape, driven by renowned chain outlets like Starbucks and Costa Coffee, as well as standalone specialty cafes catering to health-based and indulgent preferences. The market's growth is further bolstered by the strategic adoption of offline promotions, partnerships with corporates, and the influence of food delivery platforms, providing a thriving culinary experience for customers across the region.

According to Ken Research, the market's steady growth, with an average CAGR of 7% over the past three years, attracts investors and new players. Players that adapt to changing trends, innovate their offerings, and leverage technology will likely secure a competitive edge and capitalize on the opportunities presented in this dynamic market. Careem Now's extensive user base of 12 million users indicates its potential for further expansion.

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

UAE Cafe And Coffee Chain Market

Unveiling the Potential: The Surge of Medical Apparels in India's Healthcare Landscape: Ken Research

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The field of MedTech has seen remarkable innovation, but there is a call to push beyond basic telemedicine to meet universal healthcare needs.

Storyline

• Vital healthcare sector in India's growing economy.
• Pandemic tests healthcare system, healthcare workers' dedication.
• Evolving market adopts MedTech innovations for improved services.
• As per Ken Research, advancing beyond telemedicine for universal healthcare solutions.

The healthcare sector in India has always been a vital pillar of the nation's growing economy, serving as a cornerstone and prized asset. The onset of the pandemic has put the healthcare system to the test, with healthcare workers going above and beyond to provide essential medical aid to citizens. As the healthcare market continuously evolves, providers strive to deliver top-notch services to all. In this pursuit, the field of MedTech has seen remarkable innovation, but there is a call to push beyond basic telemedicine to meet universal healthcare needs.

1. The Dynamic Landscape of India's Healthcare Delivery:

Read More: India Surgical Gown Market

India's healthcare delivery system consists of two key components: public and private. While the government, i.e., the public healthcare system, focuses on delivering basic healthcare through primary healthcare centers (PHCs) in rural areas, it has limited secondary and tertiary care institutions. On the other hand, the private sector dominates secondary, tertiary, and quaternary care facilities, with a concentration in metropolitan and tier-I and tier-II cities.

2. The Rising Potential of Medical Apparels:

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India, the world's second-largest textile producer after China, is embracing a nascent but rapidly emerging sector in the technical textiles realm - medical apparels. Historically overlooked, medical apparel has recently garnered significant attention. The ability to develop cost-effective medical apparel presents lucrative opportunities in the international market. Medical apparels fall under technical textiles, which are engineered to fulfill precise functional features for specific end-uses, combining various textile structures and materials.

3. The Essential Role of Textiles in Healthcare:

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Medical apparels encompass a wide range of products, including surgical gowns, lab coats, and scrubs. Their application has extended beyond external use and is now prevalent in surgical procedures. Among technical textiles, medical apparels represent the fastest-growing segment, with widespread utilization in biological and medicinal applications, first aid, sanitation, and therapeutic purposes.

4. Raw Materials and Segments in Medical Apparel:

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The medical textile segment comprises two broad categories: non-woven and woven. Non-woven materials are artificially produced using chemicals and processes, designed for single-use applications such as personal protective equipment (PPE), disposable bed sheets, and surgery drapes. Woven apparel, on the other hand, are blends of cotton, polyester, and viscose, designed for multiple use and regular washing, including scrub suits, lab coats, and surgery gowns.

5. Future Outlook and Opportunities

India's medical apparel industry is in its nascent stages, presenting significant scope for expansion. With the government's focus on developing world-class infrastructure and implementing policies to enhance the textile sector, medical apparels are poised for substantial growth. Leveraging cutting-edge nanotechnology, medical apparels are becoming a new generation of products. Additionally, the rise in young medical professionals' demand for cool, functional, and fashionable medical apparel is driving the sector's growth.

Conclusion

Medical apparels stand as a vital and thriving segment in India's healthcare industry, fueled by advancements in technology, government support, and the need for high-quality medical products. As India's healthcare system continues to evolve, the dynamic field of medical apparels remains at the forefront, shaping the future of healthcare delivery and making a profound impact on the well-being of medical professionals and patients alike.

Major Players Mentioned in the Report:

India Surgical Gown Market

• Medline Industries India Private Limited
• 3M India Ltd., Atlas Infiniti
• Bellcross Industries Private Limited
• Sara Healthcare Private Limited, GPC Medical Ltd
• Apothecaries Sundries Mfg. Co., Pinnacle Technologies
• Deluxe Scientific Surgico Pvt Ltd (DESCO Medical India)

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• Manufacturers & Distributors
• Government Bodies
• Industry Enthusiasts
• Institutional Investors
• Venture Capitalists

Time Period Captured in the Report:

• 2018-2023

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

India Surgical Gown Market

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Global Respiratory Devices Market Outlook to 2027

US Medical Devices Market Outlook to 2027

Global Watch Market Size, Trends, Outlook to 2027- Ken Research

 What Is The Market Size Of Global Watch Industry?

Global Watch Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027.

The preference for luxury watches among consumers across the globe has witnessed an up growth owing to the influence of the Swiss watch industry.

Although the luxury market for watches is quite mature or settled, the predicted growth of any brand across the global market can witness a sudden change at any given moment as a result of a shift in consumer purchase behavior and patterns.

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Backed by the strength of its luxury watch business, Switzerland continues to reign as a world leader in the production of watches. Countries in Asia, especially Japan and Singapore, have established themselves as key markets for Swiss watches due to the high consumer spending levels in these regions.

The players operating in the market have been focusing on expanding their presence to developing economies to tap the potential of the market. For instance, Garmin Company has expanded its presence in India by launching its premium luxury watch collection called the Marq.

Global Watch Market Segmentation By Product Type

The Global Watch Market is segmented by product type into contractual and non-contractual. By product type, the Quartz/Mechanical segment held the maximum share in the market studied in 2021. However, the Digital segment was the fastest-growing segment over the forecast period.

Global Watch Market Segmentation By End User

Based on end user, the Unisex segment held a major share, and this segment is also the fastest-growing, registering a robust CAGR during the forecast period.

Consumers are more likely to be more observant and selective while investing in consumer goods like watches, as the products placed in the shelves can be tested and tried in terms of sample.

Global Watch Market Segmentation By Region

The Global Watch Market is segmented by region into North America, Europe, South America, Asia- Pacific and Global & Africa. The UAE has the largest share in all the region owning to hectic lifestyle, urbanization, taste and preferences.

Competition Scenario In Global Watch Market

The major players in the market are indulging strategies, like product innovations, partnerships, and merger & acquisitions, to establish a strong consumer base and gain an esteemed position in the market.

Among all, product innovation is the most adopted strategy by the key players operating in the global watch market, accounting for a major share of the key strategies adopted by the key players. Product innovation is a key factor for any company that has plans to increase its market share in the future.

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What is the Expected Future Outlook for the Global Watch Market Across the world?

The Global Watch Market was valued at USD ~billion in 2022 and is anticipated to reach USD

~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

Global Watch Market is expected to show increasing and is expected to grow at a CAGR of ~% from 2022 to 2028.

1. High net worth individuals have a preference to use luxury products and with changing technological era traditional watches do not fit in their everyday activities. Along with the functionality of time in a timepiece they want it to do more every now and they don’t.
2. Prefer to use smartphones. As per an online survey conducted in 2020, more than one-third of the luxury watch users in major markets prefer to use smartwatches, and obviously, those using both smart and traditional luxury watches are higher.
3. For instance, in January 2022, Louis Vuitton increased its smartwatch portfolio with the introduction of the Tambour Horizon Light Up. The Louis Vuitton Tambour Horizon Light Up is devoid of Google's Wear OS, instead of running on a custom-designed operating system. The Tambour Horizon Light Up also has the distinctive Louis Vuitton Monogram ring around the edge of its display, which has 24 LED lights to alert users to notifications. The operating system also includes four modes to meet different needs and usage. These are namely Blossom, Explorer, Submarine, and Saver.
4. Smart watches are a growing threat to those players catering to the low and mid-priced luxury watch in the market. However, those catering to the high-end mechanical watches, are less vulnerable due to their disruptive adoption by the consumer.

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Watch Market Outlook to 2027

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Philippines car rental market is estimated to grow more than USD 400 Mn by 2027 owing to the increase in internet penetration and adoption of smart phones in the country: Ken Research

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Ecosystem of Philippines Car Rental Market

There are five markets in this report: Car Rental, Car leasing, Ride Sharing, Ride Hailing and Self Drive. The Philippines car rental market and self-drive market is highly fragmented with Avis and Diamond Rent-a-Car hold the major share respectively. Philippines car leasing market is moderately consolidated and Orix, is the market leader. Philippines ride hailing market and ride sharing market are highly consolidated where Grab is the market leader.

Key Market Findings:

• Leisure travel is estimated to continue being the highest revenue generating segment with the increase in tourism across the country.
• Tourists and Corporate Clients are majority of the customers of the market.
• Players are looking to expand their fleet size to premium cars to offer comfort and luxury to customers.

Online Bookings: With increase in internet penetration and digital adoption in the country, car rental services are shifting to online platforms for direct bookings and confirmations. This makes the entire process hassle-free and contactless.

Unique Business Models: Year-on-Year with the help of technology, unique business models and features are coming up in the market like allowing private car owners to give out their spare vehicles on lease or rent. Ultimately, car rental services are becoming more accessible to customers.

Increasing Traffic and Congestion in Crowded Areas: The parking issues in urban cities is increasing due to limited space and increase in population, expecting the passengers to use more of ride hailing and ride sharing services.

Increase in Tourism: Lately, the international tourism sector is again increasing in Philippines with more than ~1500% increase in tourist arrivals from 2021 to 2022P. With that, there’s only an expectation of the demand to grow in future by tourists.

Analysts at Ken Research in their latest publication “Philippines Car Rental Market Outlook to 2027 - Driven by the increase in tourism and business activities along with deeper internet penetration and adoption of digital services.” observed that the Philippines car sharing market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased internet penetration and the adoption of smartphones. The Philippines Car Rental Market is expected to grow at robust CAGR over the forecasted period 2022 -2027.

Key Segments Covered in the report

Philippines car Rental Market

By Type of Booking

• Online market
• Offline market

By Type of Car

• Small Cars(PHP 3500-7500 / Per trip)
• Medium(PHP 3500-7500 / Per trip)
• Luxury(PHP 7500+)

By Purpose

• Leisure
• Business

Philippines Car Leasing Market

By Type of Region

• Manila
• Luzon
• Visayas
• Mindanao

By Time Duration

• 1 year
• 2 year
• 3 year
• 4 or more year

By Vehicle Price Range

• Sedan(PHP 20000-35000
• SUV(PHP 35000-50000)
• Premium(PHP 50000+)

By Type of End User

• Corporate
• Retail Individuals

Philippines Ride Hailing Market

         By Type of Region

• Metropolitan
• Non Metropolitan

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Philippines Ride Sharing Market

By Point of Service

• Rest Area
• At Airport

By Type of Car

• Sedan
• SUV

By Type of Distance

• Short distance
• Long distance

Philippines Self-Drive Car Rental Market

By Type of Region

• Metro cities
• Non metro cities

By Type of Booking Channel

• Online
• Offline

By Usage

• Intercity
• Intracity

By Time Period

• 1-2 days
• A week
• A month

By Type of Car

• Standard (PHP 1500 + / per hour)
• Luxury (PHP 1000-4000/24hours)

By Type of Booking Period

• Weekend
• Weekdays

By Segment of Car

• Standard
• luxury

By Status of Ownership

• Owned
• Leased

By Point of Service

• At Airport
• Rest area

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Key Target Audience

• Car Rental Service Providers
• Car Rental Companies aiming to establish in the Philippines
• Philippines Automotive Industries
• Government Bodies & Regulating Authorities
• Venture Capitalist targeting the car rental market
• Automotive industry association
• Car Manufacturers
• Existing Car Rental Companies
• OEM Dealerships
• New Market Entrants
• Investors
• Car Rental Associations

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

Companies Covered:

Car Rental

• Diamond Rent-a-Car
• Luxicar
• Voyg
• Rent a Car ECLPI
• Avis
• Hertz
• SafeRide

Self-Drive

• Europcar
• Thrifty
• Juzzr Car Rental
• Hertz
• Voyg
• SafeRide
• VPI

Ride Hailing

• Grab
• JoyRide
• Hirna
• Maxim

Ride Sharing

• Grab
• Hirna

Car Leasing

• Orix
• Avis
• Diamond Rent-a-Car
• Europcar
• Herts
• ECLPI Rent a Car

Key Topics Covered in the Report

• Overview and Genesis of Car Rental Market in Philippines
• Ecosystem of Philippines Car Rental Market
• Business Cycle of Philippines Car Rental Market
• Timeline of Major Players of Philippines Car Rental Market
• Value Chain Analysis of Philippines Car Rental Market
• Philippines Car Rental Market Sizing, 2017- 2022
• Market Segmentations of Car Rental Market in Philippines
• Snapshots on different Car Rental Markets in Philippines
• Industrial Analysis of Car Rental Market in Philippines
• Competitive Analysis of Car Rental Market in Philippines
• Future Outlook and Projections of Car Rental Market in Philippines

For More Insights On Market Intelligence, Refer to the Link Below: –

Philippines Car Rental Market Outlook to 2027

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Lotte Group Pivots: Vietnam Beckons as China Exit Nears: Ken Research

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Lotte Group embraces Vietnam's potential while withdrawing from China, capitalizing on the country's promising market opportunities.

Storyline

• Lotte Group shifts focus: Vietnam's retail and F&B industries.
• Expansion plans: Lotteria restaurants, Lotte Mart hypermarkets, and more.
• Vietnam's growth potential: Favorable market conditions and rising consumer income.
• As per Ken Research, the company’s retaliation aftermath will lead to strategic realignment.

South Korea based Lotte Group, the country's fifth-largest conglomerate, is accelerating its expansion in Vietnam's retail and F&B sectors as it finalizes its recent withdrawal from the Chinese market. Following his recent release from jail and receiving a presidential pardon, Chairman Shin Dong-bin is poised to visit Vietnam, signaling the group's determination to pursue business in its "third-most important market" after South Korea and Japan. Lotte's focus on Vietnam comes as the company's top executives have been closely monitoring their opportunities in the country, recognizing the growth potential and favorable business environment.

1. Growing Presence in Vietnam

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Lotte boasts an expansive presence in Vietnam, with 270 Lotteria fast-food restaurants and 15 Lotte Mart hypermarkets. Additionally, Lotte's subsidiaries are actively involved in the development of shopping complexes and residential apartments in major cities like Hanoi and Ho Chi Minh City. The establishment of Lotte Ventures Vietnam last year further solidifies the group's commitment, making it the very first foreign venture capital firm approved in the country.

2. Vietnam's Favorable Market Conditions

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The decision to focus on Vietnam is driven mainly by the country's strong retail sector, experiencing significant growth, and a rising disposable income level. Lotte recognizes Vietnam's potential as a strategic market, benefitting from Korea's positive reputation and strong consumer demand. The group views Vietnam as a key growth driver in the region, offering ample opportunities for expansion and development.

3. Exit from China

Lotte's exit from the Chinese market comes after 14 years of operation, as it faced challenges due to alleged retaliation from China following the deployment of the THAAD missile defense system in 2017. The decision to fully divest from China reflects the company's strategic realignment and its focus on emerging markets with more favorable growth prospects.

Conclusion

Lotte Group's intensified focus on Vietnam's retail and F&B industries signifies its commitment to leveraging the country's growing market potential. As per Ken Research, as the conglomerate completes its withdrawal from China, it aims to capitalize on Vietnam's favorable business environment and consumer-driven growth. Lotte's expansion efforts in Vietnam highlight its strategic vision and determination to establish a strong presence in one of Southeast Asia's most promising markets.

Singapore Logistics Market: Navigating Challenges, Unleashing Potential - Will Technology Disruption Fuel the Next Era of Growth? : Ken Research

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Singapore's logistics market has witnessed remarkable growth in recent years, driven by increased export and import activities and the expanding E-commerce industry. This growth has been further propelled by technological advancements and government initiatives that have significantly improved operational processes. However, despite these positive developments, certain roadblocks have hindered the market's full potential.
Explore our white paper for insights into these challenges, solutions, and the future of Singapore's logistics market.

1. Logistics Companies in Singapore face various challenges in terms of shortage of automation in warehousing facilities, space utilization, and resource allocation, and un-availability of skilled manpower

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2. But, the Singapore government has provided support by launching supply chain 4.0 initiatives aims to integrate more technology to assist SMEs and Logistics and Supply Chain Industry Transformation Map

2.1. Further, the Regional Comprehensive Economic Partnership (RCEP) trade agreement will drive more companies to consider a Singapore logistics hub

3. Presently, the logistics market in Singapore is majorly driven by growing demand for e-commerce and increasing cross border trade

4. High Pre-commitment rates to upcoming supply, Growing Demand in E-commerce Sector and Automated Guided Vehicles are some of the growth drivers and recent trends in the market

5. Technologies such as Dynamic Route Optimization, Connected Trade Platforms, Autonomous last-yard delivery, and autonomous last mile delivery are expected to drive Industry growth in future

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• South Africa Logistics Industry Outlook to 2026 Driven by Foreign Infrastructural Investments and Government Support but held back by Covid and unstable political conditions in South Africa
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• Philippines Logistics Industry Outlook to 2027F Driven by Infrastructural Developments, Technological Advancement and Government Support
• Malaysia Logistics Market Outlook to 2027F Driven by the Rising Demand from Manufacturing, F&B, Retail, and other industries along with increasing Government Initiatives to Strengthen the Logistics Infrastructure
• Saudi Arabia Warehouse Automation Market Outlook to 2026 Bolstering Ecommerce Industry & Ambitious Government Plans for Digitalization to Pave Strong Grounds for Automation

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Singapore Logistics Industry

What Is The Size Of China Mattresses Market? : Ken Research

China mattress Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Mn by 2027.

The China mattress market is growing due to economic recovery, rising consumer awareness of sleep health, and technological innovations. The advantages of increased disposable incomes, urbanization, and online retail channels further contribute to the market's expansion.And the growing awareness of the importance of sleep health and well-being is a significant growth driver.

Chinese consumers are becoming more conscious of the impact of quality sleep on their overall health and productivity, prompting them to seek high-quality mattresses that provide better support and comfort.

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Innovations in mattress technology have played a crucial role in the growth of the market. Manufacturers are continuously introducing new materials and designs that cater to consumers' evolving preferences. Advanced innovations include memory foam mattresses, which contour to the body, providing personalized support, and orthopedic mattresses designed to promote spinal alignment.

Additionally, the growing trend of urbanization and home ownership is expected to drive the demand for mattresses, contributing to the market's expansion.Despite challenges, the focus on product innovation and meeting consumer demands has made market future ready.

China Mattress Market by end User

The China mattress market is segmented by Household, Healthcare, Hospitality.In the China mattress market, most dominant segment in the market is the Household segment in 2022.The primary reason for the dominance of this segment is the large and growing population of China, coupled with increasing urbanization and rising disposable incomes.

Additionally, with the growing awareness of the importance of sleep health and overall well-being, consumers are willing to invest in high-quality mattresses to improve their sleep quality.The Household segment, offering a wide variety of mattresses to meet different consumer preferences and budgets, further solidifying its dominance in the China mattress market.

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China Mattress Market By Type Of Mattresses

The China mattress market is segmented by type of mattresses into Innerspring Mattresses, Memory Foam Mattresses and Latex Mattresses.Memory foam mattresses have shown significant popularity and growth in recent years in China market 2022.

Memory foam mattresses are favored by consumers for their superior pressure-relieving capabilities, body-contouring properties, and ability to cater to various sleep preferences.Therefore, while innerspring mattresses remain a popular choice due to their affordability and familiarity, the memory foam segment is currently leading the market, driven by consumer preferences for enhanced support, comfort, and a more personalized sleep experience.

China Mattress Market By Region

The China mattress market is segmented by Region into North, South, East, West.In 2022, East region emerged as the dominant region in the China mattress market. This is due to that, the Eastern region of China holds a dominant position in the mattress market, outpacing other regions in terms of sales volume and revenue. However, the mattress market is dynamic, and regional dominance can shift over time based on various economic, demographic, and cultural factors.

Competition Scenario in China mattress MARKET

The China mattress market is highly competitive, characterized by a diverse array of players, including domestic and international manufacturers and retailers. As one of the largest mattress markets globally, China offers significant growth opportunities, attracting both established companies and new entrants to compete for market share.In addition to domestic players, international mattress manufacturers are actively competing in China.

Therefore, As the demand for quality sleep products continues to rise in China, the competition in the mattress market is expected to intensify further. Companies will need to stay agile and adaptable, continuously improving their offerings to stay ahead in this highly competitive marketplace.

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What is the Expected Future Outlook for the Overall China mattress MARKET?

The China mattress market was valued at USD ~Million in 2022 and is anticipated to reach USD ~ Million by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027.

The China mattress market is driven by like Urbanization and Rising Disposable Incomes, Increasing Awareness of Sleep Health, and E-Commerce Boom is contributed to the expansion of the housing sector, leading to higher demand for mattresses.However, Technological advancements have paved the way for smart mattresses equipped with features like sleep tracking, biometric sensors, adjustable firmness, and built-in massagers. These innovative products cater to tech-savvy consumers seeking personalized sleep experiences.

The ongoing urbanization in China is another significant factor that will contribute to the growth of the mattress market. As more people migrate to urban areas and move into new homes, there will be a higher demand for mattresses, stimulating market expansion. Moreover, the growing trend of nuclear families and an increase in the number of residential projects will further propel the market's growth.

There is a growing emphasis on eco-consciousness and sustainability in China. As a result, manufacturers are increasingly using organic and environmentally friendly materials to produce mattresses, appealing to environmentally conscious consumers.Furthermore, the mattress market in China is highly competitive, with numerous local manufacturers offering affordable alternatives. This intense competition may pose challenges for international brands trying to establish themselves in the market.

Moreover, the mattress market in China is highly competitive, with numerous local manufacturers offering affordable alternatives. This intense competition may pose challenges for international brands trying to establish themselves in the market.Overall, the China mattress market's future outlook appears promising, driven by factors such as rising disposable incomes, growing awareness of sleep health, urbanization, e-commerce growth, and technological advancements.Therefore, competition from local manufacturers, brand perception challenges, and efficient logistics management are areas that companies must address to succeed in this dynamic and thriving market.

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China mattress Market Outlook to 2027

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