Revolutionizing Industries: Robotics and E-bikes Lead the Way : Ken Research

 Lucrative opportunities arise in the fragmented industrial robotics market, driven by Industry 4.0 and digitalization. Transparency is fostered through trade exhibits, while fierce competition fuels acquisitions and collaborations for innovation. Key players like ABB and Yaskawa dominate the market.

                                                                       Storyline

• Industrial robotics market: Technological integration drives expansion.
• Robotics revolution: Industry 4.0 fuels innovation and investment.
• Regional growth: North America sees surge in robot orders.
• E-bike market: Growing demand for eco-friendly transportation.

 The Overview

The global industrial robotics market was valued at USD 26.52 billion in 2022. The surge in technological integration is propelling the use of robotics and smart manufacturing in the industrial sector. Manufacturers are expanding their facilities to meet the rising demand, as demonstrated by ABB Ltd.'s recent investment of USD 150 million in a state-of-the-art robotics factory in Shanghai, China.

1. What’s up with the current trends?

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The advent of Industry 4.0, the latest industrial revolution, has ignited a wave of technological advancements in robotics. Collaborative robots, AI-enabled systems, and other innovative technologies have revolutionized industries, enabling streamlined processes, heightened efficiency, and error elimination. Moreover, the integration of robotics has significantly enhanced workplace safety and bolstered production capabilities, prompting industries to heavily invest in these cutting-edge systems.

The latest data from the National Bureau of Statistics reveals a remarkable surge in production volume, with a growth rate surpassing 50% in 2021. The figures soared from approximately 237,000 units to a staggering 363,000 units, showcasing a significant upswing compared to the previous year. Other factors such as, AI, machine learning, and 5G are transforming manufacturing robotics. With real-time connectivity and improved coordination, these technologies enhance efficiency and productivity in the industry.

2. North America seems to be taking the lead.

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North American companies witnessed a substantial surge in robot orders, reaching 9,853 units in Q2 2021 compared to 5,196 in 2020, as reported by the Association for Advancing Automation (A3). This growth in sales points towards new job opportunities and highlights the automotive OEMs' contribution with an 83% increase in industrial robot purchases for process automation, according to the Robotic Industries Association (RIA).

3. Future Scenario: The way ahead is bright but a vision is required.

Rapidly growing and competitive, the global e-bike market benefits from the increasing consumer preference for eco-friendly transportation. Manufacturers view e-bikes as a cost-effective alternative to electric vehicles, while government support and e-bike sharing services further propel market expansion.

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Industrial Robotics Market Report

US Identity Verification Market Outlook to 2028: Ken Research

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What is the Market Size of US Identity verification Industry?

US Identity Verification Market is growing at a CAGR of % in 2017-2022 and is expected to reach USD Bn by 2028. The Identity Verification Market is largely driven by increasing internet penetration, economic growth, technological advancements, global digitization, rise in cyber threats and frauds.

USA, especially North America has been a popular destination for digital transactions and purchase with wide area of faster internet connection for various companies to undergo their transaction, with a vast amount of technologies and ample amount of cyber threats, identity verification Market has flourished globally as people are continuously purchasing and making payment online. Even when people are seeming to make safe transactions, somewhere or the other hacks and loss of credentials were still on the loose. As high end protocols and daily online purchase rose to its peak, successive online frauds and cases rose as well, and with it rose the online verification.

US identity verification has successfully marked the rise and growth since the Covid-19 pandemic as global digitization took place mostly in that time. Online frauds and hacks has never been this widespread since companies were in a mix state of online and traditional transactional stage. But with the rise of digital transactions rose the need for online security.

The development and widespread adoption of technology, high end algorithms, have made it easier and more convenient for people to securely undergo online processing with a proper verification in order to maintain integrity and security towards one individual.

US Identity Verification Market segmentation By type of deployment

The US Identity Verification Market is segmented by type of Deployment within the company or on demand by others. The segment in the US Identity verification Market offers the On-premise and On-demand of which the On-Premise verification has proven to be dominant.

The clientele whose premises sanctions verification through algorithms and protocols and saves data under the same infrastructure are what we call ‘On-Premise’, which most of the giant companies are having for their own.

On Demand on the other hand is such a segmentation that offers various solutions by various methods, required on demand, such as Biometrics, document verification, sensors etc. which are used on the type of situation. Although On-Demand may seem more beneficial, On-premise allows companies to have all the type of methodologies inside one company, making it more dominant in today’s Market.

US Identity verification Market By Type of end-user industry

The US Identity Verification Market is segmented by the type of End-User Industry, which includes Finance and Banking, E-commerce and Retail, Travel and Hospitality, Gaming and Online Entertainment.

The segments are equally fragmented with all the sectors being heavily influenced by the same. Every sector requires a strong verification without which further proceeding of the process will not be adequate.

Although all are equal, Financing and banking sectors are much more influenced in identity verification as because people need to follow KYC and AML regulation before further proceeding with any of the processes. Furthermore, Travelling and hospitality demands document verification before anything, resulting in a strong verification process before further proceedings.

Apart from the giants, Gaming and entertainment have shown significant rise since the rise of online gaming and streaming. Applications require a verification before they can be proceeded toward further processing like login verification code sent to the owner’s phone or mail.

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 US Identity verification Market By Region split

The US Identity Verification Market is segmented By Region into Northeast, Midwest and South Region. The Northern American region is the most dominant region in 2022 which proved to be dominating in a most secure line of verification, with major cities like New York, Pennsylvania, New Jersey, Massachusetts is flourishing as a well-established infrastructure of 5G connectivity and extensive branch networks verficational centres inside and outside the premises, making a secure line of online workflow.

Competition Scenario in US Identity Verification Market

The Identity Verification Market in US is highly competitive, with various players competing for Market share and top of the list leadership. With several established players, companies are giving their effort to full extent and giving a strong presence compared to the global Market. With several tech giants having robust and high end technologies, they also come in the competition for the top in the identity verification Market.

With new start-ups and partnerships, companies are aiming to make in order to make a much more secure platform in their own region, hoping to build a more secure line of work for the transactional, profile verification and monitoring of yearly records. This ensures that large companies like Trulioo, LexisNexis Risk Solutions are always up to the mark in order for verification to be done whenever needed.

What is the Expected Future Outlook for the Overall US Identity verification Market?

The US Identity Verification Market was valued at USD billion in 2022 and is anticipated to reach USD billion by the end of 2028, witnessing a CAGR of % 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 US Identity Verification Market is growing due to digitalization, a growing rate of theft and money lost, e-commerce, financial inclusion, cybercrimes, money laundering and strengthened ties with emerging economies.

The ongoing advancement of digital technologies and the emergence of Fintech and Regtech companies will continue to reshape the verification sectors. Digital platforms, mobile apps, and online services will always bring probable threats to any organization for which companies must improve with them as well, resulting in a much stricter regulatory actions to be taken.

US Identity verification Market has screened over 12000 profiles of main business prospectors, having their major hand in their line of business, ensuring that their documents and biometrics are always up-to-date and original in this regard.

The rapid growth of e-commerce and digital platforms presents opportunities for the verification Market to approach companies to make their protocol readily available to their sectors in order to maintain a secured workflow and manage correct profile for employers as well.

Changes in global traditional transactions to digital platforms has incorporated millions of risks, such as increased hacking, international fraudulent cases etc. resulting in an upscale of protocols and algorithms to stimulate proper verification. AI and Machine Learning has successfully helped in diminishing many risk factors by incorporating stronger security towards online work and maintaining a secure and streamline domain.

America’s economic ties with emerging economies, particularly in the European region, will continue to grow. With vast amount of online payment, large amount of digital shipment and proof for those shipment reaching the current owner is making the verification Market updraft their workflow.

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Market Taxomony

By Deployment Type

• On-Premise
• On-Demand

By End-User Industry

• Financial Services
• Retail and E-Commerce
• Gaming/Gambling
• Government
• Others

By Regional Shift

• North
• South
• East
• West

Major Identity Verification Market Players

• Trulioo
• LexisNexis Risk Solution
• Experian
• Jumioo
• Onfido
• Socure
• Mitek Systems

Research Sources

Secondary Research

• Company Reports & Websites
• ROC Filings
• Online Magazines
• Newspapers & Journals
• Online Articles
• Market Related Ministries
• Government Associations
• Industry Journals/Portals
• Investor Presentations & Company Profiles

Time Period Captured

• Historical Period – 2017-2022
• Base Period – 2022
• Forecast Period – 2022 –2028

Key Factors Covered in the Report

• US Identity Verification Market Introduction
• Verification Infrastructure
• Value Chain in US Identity Verification Market
• US Identity Verification Market Size
• US Identity Verification Market Segmentation
• US Identity Verification Market Future Outlook
• US Identity Verification Market Future Segmentation
• Top Company Profiles
• Issues and Challenges
• Analyst Recommendation

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

US Identity Verification Market Outlook to 2028

Related Report by Ken Research:-

Australia Cyber Security Market Outlook to 2027F

China Cyber Security Market Outlook to 2027F

Global E-Bike Market Surges towards growth. Will the current industry trends support it?: Ken Research

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The market is expected to reach over $50 Bn by 2027. Asia Pacific is expected to lead the market growth alongside favorable government policies.

• Electric Bike Market projected to reach over $50 Bn by 2027.
• Factors driving growth: policy support, improved infrastructure, environmental awareness.
• Technological advancements making e-bikes more accessible and realistic.
• As per Ken Research estimates, Asia-Pacific market to lead the industry, followed by Europe and North America.

1. Electric Bike Market projected to reach over $50 Bn by 2027.

Global Battery Powered Bike Market

As per statistics, the electric bike market is expected to undergo substantial global growth in the upcoming years. Valued at $35.69 Bn in 2021, it is projected to reach over $50 Bn by 2027, showcasing a remarkable compound annual growth rate (CAGR) of 12.6%.

2. Factors driving growth: policy support, improved infrastructure, environmental awarenes.

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The growth of the electric bike market is influenced by multiple factors, including increasing policy support and the expansion of e-bike sharing programs. Furthermore, there is a notable improvement in cycling infrastructure, particularly in emerging economies and urban regions.

The rising environmental consciousness among individuals seeking eco-friendly transportation alternatives is also contributing to the market's expansion. To foster this trend, several states have introduced tax incentives to enhance the affordability of e-bike purchases. Additionally, recent legislative efforts in the U.S. Congress aim to promote safer bike infrastructure and greater accessibility to e-bikes.

3. What about Regional Outlook?

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The Asia-Pacific market takes the lead in e-bike growth, fueled by improved bike infrastructure in China. Europe sees a rise in e-bike manufacturing, while North America anticipates significant expansion driven by increased e-bike use in bike shares and a pandemic-driven surge in sales. The region has already recorded a remarkable 145% surge in e-bike sales during the 2020 pandemic, which has significantly expanded the e-bike market in the region.

4. What does the Future hold?
The market's growth is anticipated to be propelled by supportive Government initiatives promoting eco-friendly transportation. However, the lack of adequate infrastructure, including dedicated bike lanes and parking facilities, poses a challenge for accommodating the increasing number of e-bikes in urban areas, as highlighted in the report.

Smooth Ride Ahead: Malaysia's booming Automotive Lubricant Market shifts into High Gear. Where will it head in the future? : Ken Research

 Motorcar and motorcycle ownership is increasing in Malaysia due to high per capita income and inefficient public transport system. This has been boosting the demand for the automotive lubricant industry in the country. Presently, the market is growing at a CAGR of ~11% between 2015 and 2020 but as per Ken Research report, the industry has a high potential to touch MYR 13 billion on the basis of revenue by 2025. Want to know the supporting factors behind this growth? Read the complete white paper now.

1. With more than 32 million vehicles on road in 2020, Malaysia is the 3rd largest Automotive Industry in SEA region

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2. More than 90% of the New Vehicles Registered are Passenger Vehicles which provides a Huge Target Audience for Automotive Lubricants in Malaysia

3. Presently, the Lubricants sector is in a Growing Phase with Increasing number of Vehicles on Road

4. Growing Used Car Sales, Online Presence, and Diverse Product Portfolio are some of the variables assisting Lubricant sales volume in Malaysia

5. However, the Sale of Fake Lubricants, Lower Pricing at Hypermarkets, and Dependence on Imports are some of the Challenges faced by Companies in the Automotive Lubricants Market in Malaysia

6. But the industry has a strong potential to grow with double-digit CAGR owing to Increasing Automobile Demand, Consumption of Synthetic and Semi-Synthetic Lubricants in Malaysia

Some of the Intelligence Curated by Ken Research in Automotive Lubricant Market Space:

• KSA Automotive Market Outlook to 2027 Driven by rising influx of women drivers and domestic manufacturing in the KSA
• India MBO Two Wheelers Market Outlook to 2027 Driven by economic recovery after COVID and increasing demand for 2Ws is helping the MBOs players to sustain their market position in the high fragmented market structure
• KSA EV Charging Equipment Market Outlook to 2027F Driven by Government Initiatives, Demand for Eco-friendly Transportation and Entry of New Brands in the market
• Nigeria Lubricants Market Outlook 2027F Driven by demand for expanding wind energy sector & rising demand for high performance lubricants
• USA EV & EV Charging Equipment Market Outlook to 2027 Driven by growing market driven by government support and customer drive towards cost-efficient mobility

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

Malaysia Automotive Lubricants Market

Future Outlook to Nigeria Mattress Market 2028: Ken Research

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What is the Size of Nigeria Mattress Market?

Nigeria Mattress Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Mn by 2028. The Nigeria Mattress Market is growing at steady growth in recent years, The country's increasing population, urbanization, and rising disposable incomes were significant factors contributing to the expanding demand for mattresses. Additionally, growing awareness of the importance of sleep health and improving living standards were driving consumers to invest in more comfortable and high-quality mattresses. Furthermore, the emergence of e-commerce and online retail channels provided greater accessibility and convenience for consumers to explore and purchase a variety of mattresses.

The Nigeria Mattress Market is experiencing new innovations to meet evolving consumer demands. One notable trend is the adoption of advanced sleep technologies, such as memory foam and hybrid mattresses, providing enhanced comfort and support. Additionally, there is a growing focus on eco-friendly and sustainable mattress options to appeal to environmentally-conscious consumers.

However, the market faces challenges, including the prevalence of low-cost, low-quality mattresses from unorganized sectors, which can hinder the growth of branded products. Moreover, logistical and infrastructural constraints pose distribution challenges, impacting market accessibility and penetration.

Nigeria Mattress Market by end user

The Nigeria Mattress Market is segmented by Commercial, Hospital, Residential. In the Nigeria Mattress Market , most dominant segment in the market is the residential sector in 2022.

 This is due to the significantly larger consumer base of individuals and families purchasing mattresses for their homes. The residential market is driven by factors such as population growth, increasing awareness of the importance of quality sleep, and the replacement demand for old or worn-out mattresses.

Additionally, the residential end-user segment is the dominant player in the France Mattress Market due to the larger consumer base and increasing awareness of the importance of quality sleep.

Nigeria Mattress Market by type of mattresses

The Nigeria Mattress Market is segmented by type of mattresses into Alternating Pressure Mattress, Gel and Hybrid Mattress. Hybrid mattress is dominance in Nigeria in 2022. Alternating Pressure Mattresses and Gel Mattresses, on the other hand, are relatively newer and cater to specific segments of the market.

Alternating Pressure Mattresses are commonly used in medical settings and are designed to help prevent pressure sores in bedridden patients.

Gel mattresses offer enhanced comfort and support, making them popular among consumers seeking a more luxurious sleep experience. Hybrid mattresses combine various materials like memory foam and innerspring to provide a balanced sleep surface.

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Nigeria Mattress Market by Region

The Nigeria Mattress Market is segmented by Region into North, South, East, West In 2022, the west region emerged as the dominant region in the Nigeria Mattress Market, due to its strategic location and industrial infrastructure is gaining more demand.

Additionally, the availability of skilled labor and raw materials in the region contributes to its prominence in mattress production. The concentration of manufacturers in Western Nigeria allows for cost-effective production and efficient distribution to both local and regional markets.

Competition Scenario in Nigeria Mattress Market

The Mattress Market in Nigeria is highly competitive, with both local and international players compete for market share. Local manufacturers such as Mouka Foam, Vita foam Nigeria, and Dufil Prima Foods are prominent players, offering a wide range of mattresses catering to diverse consumer preferences.

In Additionally, international brands like Serta, Simmons, and tempur-pedic have also entered the market, providing consumers with premium options. The competition is fueled by factors like product innovation, pricing strategies, and marketing efforts to capture the growing demand for quality mattresses in Nigeria's expanding population.

Therefore, as companies strive to outperform their competitors, they invest in research and development, which leads to the introduction of new mattress technologies and materials, ultimately driving market growth and catering to the evolving needs and preferences of Nigerian consumers.

What is the Expected Future Outlook for the Overall Nigeria Mattress Market?

The Nigeria Mattress Market was valued at USD ~Million in 2022 and is anticipated to reach USD ~ Million by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028.

Nigeria Mattress Market, driven by various factors and ongoing innovations. As Nigeria continues to develop its tourism industry and healthcare infrastructure, there will be a growing need for mattresses in hotels, resorts, hospitals, and clinics, further contributing to market expansion.

Moreover, the rising urbanization and increasing disposable incomes in Nigeria have contributed to a growing middle-class population. With higher purchasing power, consumers are likely to invest in better-quality and more comfortable mattresses to enhance their sleep quality and overall well-being.

Additionally, as people become more conscious of the benefits of getting adequate and restful sleep, they are likely to seek better mattresses that offer superior support and comfort.Moreover, smart mattress technology, with features like sleep tracking and adjustable firmness, is gaining traction among tech-savvy consumers seeking personalized sleep experiences.

However, the market also faces certain challenges. The presence of counterfeit and low-quality mattresses remains a concern, as it can erode consumer trust and hinder the growth of established brands.

Furthermore, the increasing penetration of e-commerce and online shopping in Nigeria has opened up new distribution channels for mattress retailers. Consumers now have the option to explore and purchase mattresses online, making it more convenient and accessible to shop for their bedding needs.

However, the Nigeria Mattress Market also faces certain challenges that may impact its future outlook. Economic fluctuations and currency devaluation could affect consumer spending and demand for non-essential products like mattresses.

Despite these challenges, the Nigeria Mattress Market is expected to grow due to favourable demographic trends, increasing urbanization, and the focus on sleep health. The rise of e-commerce and the expansion of distribution networks will enhance market accessibility, making mattresses available to a broader consumer base.

Therefore, the market's competitiveness and the need for sustainable practices are challenges that companies must address to capitalize on the market's potential advantages.

Market Taxomony

By Type of Mattress

• Alternating Pressure Mattress
• Gel
• Hybrid Mattress
• Innerspring
• Latex Mattresses
• Memory Foam

By Size

• King
• Super King
• Queen
• Twin

By Business Model

• Lease
• Outright Sale

By Distribution Channel

• Retail
• Direct

By End User

• Commercial
• Hospitals
• Residential

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Major Players across the Nigeria Covered in the Report

• Euro products Nigeria ltd
• Mouka Foam
• Polly Foam
• Teju Industries
• Vitafoam Nigeria ltd
• Vono Products Plc
• Arco Foam

Research Sources

Secondary Research

• Company Reports & Websites
• ROC Filings
• Online Magazines
• Newspapers & Journals
• Online Articles
• Ministries of the Related Industries
• Government Associations
• Industry Journals/Portals
• Investor Presentations & Company Profiles

Time Period Captured

• Historical Period – 2017-2022
• Base Period – 2022
• Forecast Period – 2022 –2028

Key Factors Considered in the Report

• Nigeria Mattress Market Overview
• Executive Summary
• Market size and Segmentation of the Nigeria Mattress Market, 2017-2022
• The government regulation and Growth driver
• SWOT Analysis
• Government Regulations/Initiatives for Market
• Growth Drivers of the Nigeria Mattress Market
• Issues and Challenges of the Nigeria Mattress Market
• COVID-19 Impact on the Overall Nigeria Mattress Market
• Future Market Forecast for Nigeria Mattress Market and by Segments, 2022-2027
• Company Profiles of Nigeria Mattress Market Players
• Analyst Recommendations

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

Nigeria Mattress Market Outlook to 2028F

Related Reports by Ken Research: –

Germany Mattress Market Outlook to 2027F

France Mattress Market Outlook to 2028F

UAE's Entertainment and Leisure Industry: Soaring to New Heights with Projected ~10% Growth by 2027: Ken Research

 In 2022, the Entertainment Market in the UAE experienced a significant influx of ~30 Mn visitors. Both the government and private sector have made substantial investments in entertainment facilities as part of a strategic move to reduce reliance on the oil-based economy.

STORY OUTLINE

• UAE's Thriving Entertainment Market: The UAE's leisure and entertainment industry are experiencing significant growth, fueled by an ascending economy, higher consumer spending, and its popularity as a major regional tourist destination
• Diverse Entertainment Options: Tourists visiting Dubai and Abu Dhabi seek various entertainment options, driving demand in the industry, especially in movie cinemas, indoor theme parks, and arcades.
• Technology's Impact: The industry is undergoing a profound transformation with the widespread adoption of cutting-edge technologies like virtual reality, online streaming, and extended reality (XR), providing unique and immersive experiences.
• OTT Market Growth: The MENA region's OTT market is thriving, with the increasing availability of high-speed internet, widespread use of digital devices, and a growing digital audience for entertainment content.
• Future Innovations: The UAE's entertainment and leisure industry is expected to witness further innovations, such as contactless ordering in cinemas using AI robots, self-ordering kiosks, vending machines, or online ordering apps, enhancing the overall consumer experience.

The United Arab Emirates is witnessing an ascending economy, leading to a flourishing Leisure and Entertainment Industry propelled by the growth of GDP and higher consumer spending. The leisure and entertainment industry in the region is currently experiencing a profound transformation. Cultural changes among the younger generation have sparked significant interest, and there is a growing demand for local Arabic content, which is expected to drive substantial growth in the regional media sector.

1. Visitors Unleash Fun: How Tourism Drives UAE's Entertainment Industry!

Discover Number of Walk ins in UAE

In 2022, the Entertainment Market in the UAE witnessed an impressive ~30 million walk-ins, with the country's status as a major regional tourist destination playing a pivotal role in driving this footfall.

Tourists flocking to Dubai and Abu Dhabi seek diverse entertainment options during their visits, creating significant demand in the industry.

Despite the pandemic-delayed Expo 2020, expectations were high that the event would attract millions of visitors, providing a substantial boost to the entertainment sector. Movie Cinemas, Indoor Theme Parks, and Arcades collectively dominated the market, capturing over half of the total entertainment share based on the number of walk-ins in 2022.

2. UAE's Thriving Leisure Market Driven by Mega-Theme Parks!

Explore Trends in the UAE Indoor Theme Parks Market

The rapid adoption of technology has given rise to online streaming platforms, virtual reality experiences, and gaming, expanding the entertainment landscape. The MENA region's surge in OTT services can be attributed to various factors, such as the growing accessibility of high-speed internet and the widespread adoption of digital devices. These elements have significantly contributed to the industry's expansion in the area.

As of 2021, the number of active social media users in the UAE reached around ~9 million, indicating a growing digital audience for entertainment content. Increase in original Arabic content creation, rising partnerships, and increased digital spending will boost the OTT Market in UAE.

3. Revolutionizing the UAE Entertainment and Leisure Industry: Technology at Its Finest

The UAE's entertainment and leisure industry are undergoing a remarkable transformation through the widespread adoption of cutting-edge technologies like the metaverse and extended reality (XR). This innovation is paving the way for exciting new avenues, elevating the consumer experience with unique and immersive entertainment offerings.

To promote contactless ordering, Cinemas are expected to incorporate AI robots, self-ordering kiosks, vending machines, or online ordering app.

In conclusion, the UAE's Leisure and Entertainment Industry is flourishing, driven by its ascending economy and higher consumer spending. The convergence of technological advancements, the surge in local Arabic content demand, and the growing tourism sector all contribute to the sector's transformation. With innovations like virtual reality and online streaming shaping the landscape, the industry promises to provide an unparalleled and immersive experience for visitors and audiences alike. As the region continues to embrace technology and cultural shifts, the future of entertainment in the UAE looks promising and dynamic.

Chilling Success: KSA's Cold Chain Market Surges with Government Support: What's on the Horizon? : Ken Research

 With the surge in urbanization, the demand for frozen food items and their efficient storage and transportation has propelled the rapid growth of the KSA cold chain market. However, this thriving industry encounters formidable challenges on its path to success. Limited technology infrastructure and labor availability issues pose significant threats to its expansion. Yet, amidst these icy obstacles, a guiding light emerges.

The government steps forward as a staunch ally, spearheading initiatives to address these hurdles and becoming the key catalyst behind the market's flourishing trajectory.
Explore the comprehensive measures and strategic support employed by the government as it resolves the challenges and shapes a promising future for the KSA cold chain market.

1. The Cold Chain Market has grown rapidly owing to an increase in urbanization which led to a demand for frozen food items and their storage and transportation

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2. Increasing pharmaceuticals, online grocery platforms, expansion of cold chain infrastructure, and government initiatives are the key trends and developments in KSA cold chain market

3. However, Limited technology, power outages and labor availability are the major threats to KSA cold chain market

4. But, the Saudi Government is moving towards modernization in their infrastructural development which will facilitate KSA Cold Chain Market growth in the coming years

5. The industry has high potential to grow owing to the Rising Grocery Retail Spending, Geographic location, and increasing government initiatives

Some of the Intelligence Curated by Ken Research in Cold Chain Market Space:

• Indonesia Cold Chain Market Outlook to 2026F Driven by Rising Fisheries Industry & Convenience Food Consumption Owing to Growing Population and Infrastructural Development
• Thailand Cold Chain Market Outlook to 2026F Driven by Rising Import-Export Trade Volume and Domestic Consumption of Meat, Seafood and Popularity of Ready to Eat Frozen Processed Food
• Singapore Cold Chain Market Outlook to 2026F Driven By Rising Meat and Seafood Consumption Coupled With Demand for Temperature Sensitive Health Care Products
• Brazil Cold Chain Market Outlook to 2027- Driven by increasing exports and imports and consolidation of the market by large players
• Portugal Cold Chain Market Outlook to 2026F: Driven by Rising Packaged Foods Consumption Owing to Growing Millennial Population

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KSA's Cold Chain Market

KSA’s Upcoming Attraction- The Leisure and Entertainment Industry! : Ken Research

 Story Outline

• The Saudi Arabian Public Investment Fund has allocated $ 64 billion to the Saudi Vision. It plans to invest this amount in the Leisure and Entertainment industry.
• The government policies such as the upliftment of the decades long cinema ban, cashback for domestically produced films and others are stepping stones to enhance the Entertainment Sector.
• The Kingdom is also investing in organizing events and festivals such as the Red Sea International Film Festival.
• The recreation and tourism sectors are driving Saudi Vision 2030, with upcoming projects like Al Ula, the "Green Heart of Riyadh" (King Salman Park), and Riyadh Sports Boulevard enhancing cultural tourism and livability.

The Kingdom of Saudi Arabia is a potential hub spot for all things entertainment and leisure. The Kingdom’s intense focus on developing the entertainment and tourism sector solidifies the double digit CAGR from the year 2023 to 2027. Some key factors contributing to this growth are the high ratio of the young and middle-aged population who are tech savvy. The increased share of spending on leisure and entertainment due to increased disposable incomes and an experience mindset.

1.Changing Government Policies

Recent Trends In KSA Leisure & Entertainment Market Outlook to 2027

The Saudi government under the guidance of the Crowne prince Mohammed Bin Salman lifted the decades long cinema ban in 2017. This was a turning point for the population as well as the film and related industries in Saudi Arabia.The female population is no longer prohibited from driving and are now allowed to travel alone.

The Saudi Film Commission recently announced a 40% cash rebate on qualifying expenses during film production inside Saudi Arabia if certain conditions are met.

2.Emerging Events and Festivals

The newly-established Red Sea International Film Festival, which featured 138 films from more than 60 countries, played to thousands of attendees, many of whom were international guests.

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Other festivals such as the XP Music Conference and the Soundstorm festival have helped Riyadh to establish itself as a leading music and cinema destination.

3.Thriving Recreation and Tourism Projects

The recreation and tourism sectors are the drivers of the “Saudi Vision 2030”. Thus, the Kingdom has multiple upcoming projects supporting the Vision.

Al Ula - Kingdom's hidden natural wonder, with 23,000 archaeological sites is situated 300 km north of Madinah Al Munawara. Al Ula is going to be the Kingdom’s main cultural eco-tourism destination. It is expected to offer various recreational activities including sightseeing, hiking, camping and other desert-friendly sports and festivals.

The “Green Heart of Riyadh”, the King Salman Park aims to be world’s biggest city park which will be well connected, and is about four times the size of Central Park in New York. It has a total area of 13 million sqm. The park is expected to offer various components related to the environment, culture, art and sports.

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Riyadh Sports Boulevard is a one-stop wellbeing destination. It will offer various sports and recreational facilities across 8 multi-themed zones. With a unique outlook, the project has 1 million sqm of land allocated for private investment opportunities among both domestic and foreign investors, allowing them to introduce complementary developments, such as museums, libraries and art studios. The project aims to improve quality of life and support the objective of placing Riyadh within the world’s top 100 livable cities.

Future Outlook of Oman Car Finance Market: Ken Research

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WHAT IS THE SIZE OF OMAN CAR FINANCE MARKET?

Oman car finance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2027.  The car finance market in Oman car finance market has witnessed significant growth in recent years, reflecting the country's evolving economic landscape and consumer preferences.  With the help of growing economy, rising disposable incomes, and increasing urbanization are driving the demand for vehicles. As more individuals aspire to own cars, the need for car financing solutions has surged, contributing to market expansion.

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Additionally, technological advancements are reshaping the market landscape. The integration of new technology and digitization in the car finance industry has led to streamlined processes, faster approvals, and improved customer experiences. Moreover, economic fluctuations and changing regulatory policies can impact consumer sentiments and credit demand, posing potential challenges to market stability. Despite the challenges, the Oman car finance market benefits from favorable government policies, infrastructure development, and strategic location as a gateway to the Gulf region. These factors contribute to the market's growth potential and attract investment from various players. Therefore, the growing economy, adoption of new technology, and strategic advantages are helping to grow the Oman car finance market forward.

OMAN CAR FINANCE MARKET BY TYPE OF VEHICLE

The Oman car finance market car finance Market segmented by New Car and Used Car.  In the Oman car finance market mattress market, most dominant segment in the market is the new car segment in 2022. In Oman, consumer preference plays a significant role. In Oman, as in many other countries, there is a cultural inclination towards new cars as they are seen as symbols of status, luxury, and reliability. The allure of owning the latest model with advanced features and modern designs motivates consumers to opt for new cars over used ones.

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OMAN CAR FINANCE MARKET BY CATEGORY OF LENDER

The Oman car finance market is segmented by type of lenders like: NBFCs, Banks, OEMs The Banks are the dominant type of Lender in Oman market car finance market 2022.  Due to, banks have a well-established presence in the country's financial sector with extensive branch networks, making them easily accessible to consumers across Oman. This widespread reach allows banks to serve a broader customer base seeking car financing option. Therefore, due to their widespread accessibility, strong reputation for reliability, diverse financing options, and financial strength, banks continue to dominate the car finance market in Oman.

OMAN CAR FINANCE MARKET BY REGION

The Oman car finance market is segmented by Region into North, South, East, West. In 2022, Southeast region, emerged as the dominant player in the Oman car finance market car finance market. South Eastern region is heavily relying on vehicle imports from various global manufacturers to meet its automotive demands. The dominance in the automotive sector lies more in vehicle imports, sales, distribution, and related services rather than domestic car production.

Additionally, Oman's growing population, rising income levels, and urbanization have fueled the demand for personal vehicles, leading to a thriving automotive sector that primarily relies on importing a wide range of vehicles to cater to consumer preferences. Therefore, Oman plays a significant role in the automotive industry in the south East, its dominance lies in the importation, sales, and distribution of vehicles rather than domestic car production.

COMPETITION SCENARIO IN OMAN CAR FINANCE MARKET

The car finance market in Oman is characterized by intense competition among various players seeking to capture a share of the growing automotive financing sector. Banks, with their well-established presence in Oman's financial sector, hold a prominent position. They offer a wide range of financial services, including car loans, and leverage their extensive branch networks to attract a broad customer base seeking car financing option.

NBFCs also play a significant role in the competition scenario. These specialized financial institutions often cater to niche segments of the market, offering tailored financing solutions to meet specific customer needs. Their ability to provide more customized services allows them to carve out a unique position in the market. Therefore, As the market continues to evolve, innovative and customer-centric approaches will be key for companies to maintain their edge in this fiercely competitive industry.

What is the Expected Future Outlook for the Overall OMAN Car Finance Market?

The Oman car finance 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 Oman car finance market mattress market is driven by the country's growing economy, rising per capita income, and increasing urbanization are expected to fuel the demand for vehicles.

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Moreover, the government's infrastructure development initiatives and investments in transportation projects are likely to improve accessibility and mobility, further boosting car sales and financing opportunities. Also, Innovations in the car finance market, such as digitization and online lending platforms, will continue to reshape the industry. The integration of technology in the loan application and approval process will enhance customer convenience and shorten approval times, providing a competitive edge for financial institutions.

Additionally, sustainable financing solutions and the promotion of electric and hybrid vehicles are emerging trends that align with the global shift towards eco-friendly mobility. Financial institutions that offer financing options for greener vehicles will attract environmentally conscious consumers, contributing to market growth. Furthermore, economic fluctuations and potential changes in regulatory policies may impact consumer sentiment and credit demand, posing challenges to the market's stability.

Therefore, the Oman car finance market is expected to witness steady growth driven by economic development, technological innovations, and sustainable trends. Financial institutions' ability to adapt to market dynamics, offer attractive financing packages, and embrace new innovations will determine their success in this evolving sector.

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

Oman Car Finance Market Outlook to 2027F

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Thriving UAE Cold Chain Market: Growth Prospects and Government Initiatives: Ken Research

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Rising Demand for Temperature-Sensitive Products and Government Support Propel Cold Chain Industry

Storyline

• As per Ken Research, the UAE cold chain market is poised for significant growth, fueled by increasing demand for food items, a thriving pharmaceutical industry.
• Import-driven surge: Rising 3PL companies, strategic pharmaceutical growth, and food imports.
• Government initiatives driving growth: Economic diversification, logistics development.
• Rising cold transportation demand: 42% revenue share projected by 2025.
• UAE's cold chain industry: dominated by the cold storage segment.

1. Diverse Revenue Streams & a growing market

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The UAE cold chain industry witnessed a substantial contribution from cold storage and cold transport markets, accounting for approximately 60% and 40% of the total revenue in 2020, respectively. However, the cold transportation market is expected to see a decline in revenue share to around 42% by 2025, attributed to the surging demand for temperature-sensitive products in the country.

2. Driving Factors

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Factors such as the rise in refrigerated warehouses, growth in the pharmaceutical sector, and an increasing demand for perishable products like dairy, meat, and seafood are anticipated to drive the growth of the cold chain logistics market in the UAE.

3. Import-Driven Growth

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The UAE heavily relies on food imports due to its arid climatic conditions, with around 80% of its food requirements met through imports. Additionally, the pharmaceutical sector has witnessed exponential growth, with Covid-19 being a major driving force. The country's strategic location provides logistics access to 43 countries worldwide.

4. Surge in 3PL Companies & a Fragmented market

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The market has witnessed a rising demand for fully integrated distribution centers, driving the growth potential for 3PL companies that handle sophisticated supply chains. With increasing opportunities, many 3PL companies are expanding their operations across various UAE cities. Moreover, the overall market is highly fragmented which indicates the increasing interest of cold chain companies in UAE.

Conclusion

As per Ken Research, the UAE cold chain market is poised for significant growth, fueled by increasing demand for food items, a thriving pharmaceutical industry, and the government's continuous efforts to enhance logistics infrastructure. With a projected positive CAGR of 4.8% in terms of revenue during the forecast period 2022-2027, the cold chain industry is set to play a pivotal role in supporting the UAE's economic diversification and promoting sustainable logistics solutions.

Major Players Mentioned in the Report:

UAE Cold Chain Market (Cold Storage Companies)

• FI
• Mohebi Logistics
• CEVA Logistics
• RSA Global

UAE Cold Chain Market (Cold Transportation Companies)

• Triburg
• Transcorp
• Badami Logistics
• Tameem Logistics

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

• Agricultural & Sea food Producers
• Importers & Exporters
• E-Commerce & Online Grocery Platforms
• Retail & Super market Chains
• Pharmaceutical & Healthcare Companies

Time Period Captured in the Report:

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

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

UAE Cold Chain Market

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