Global Market Research Reports : Ken Research

Monday, December 5, 2022

Rising Automobile demand, Flexible models of financing, increase in Online Auto Finance Aggregator and Growth in Auto Finance industry had driven UAE Auto Finance Market: Ken Research

Focus on Growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities are driving the UAE auto finance market.

Rising Automobile Demand: UAE’s low import and fuel costs, conducive tax regime and high disposable incomes has strengthened the automobile sector and encouraged the global giants to set up its dealers and distributers in the UAE. The government has also been encouraging research and development with regards to autonomous or driverless vehicles, smart and eco-friendly alternatives, for instance, hydrogen, natural gas and hybrid vehicles which has led to the rise in demand for automobile.

Flexible Models of Financing: Younger, tech-savvy buyers, who expect to manage their finances remotely on a mobile device or computer are gaining market share. AI is increasingly making important decisions to offer a very different proposition to third party funders, brokers and banks like Dubai Islamic bank, Ajman bank, arab bank, mashreq, first Abu Dhabi bank etc.

uae-auto-finance-market

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Growth in Automotive Industry: UAE’s low import and fuel costs, conducive tax regime and high disposable incomes have also helped strengthen the automobile sector and encourage global giants like Toyota, Nissan, Mitsubishi, etc. to set up shop here and manufacture in the country. The government has also been encouraging research and development with regards to autonomous or driverless vehicles such as the RTA and General Motors backed “Cruise” that is operating Chevrolet Bolt EVs across the city to create and maintain a navigable map for autonomous vehicles.

Online Auto Finance Aggregator: Major Online aggregator are Yallacompare, Moneymall, souqalmal, mymoneysouq, soulwallet. These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options that range from personalized interest rates and variable terms to completely new ownership models such as shared leasing and vehicle subscriptions.

Analysts at Ken Research in their latest publication “UAE Auto Finance Industry Outlook to 2026F - Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities” by Ken Research observed that UAE Auto Finance Market is in the growing phase. The Potential for Fintech Growth, growing digital advancement, rising automobile demand, flexible model of financing and government initiatives, are some of the factors that will contributed to the UAE Auto Finance market growth over the period of 2021-2026F. It is expected that UAE Auto Finance Sector will grow at a CAGR of ~17% for the above forecasted period.

Key Segments Covered: -

UAE Auto Finance Market:

By Category of Lenders (by Credit disbursed), 2021 & 2026F:

Captive Financing Companies
Universal and Commercial Banks
NBFCs

By Type of Vehicles (by Credit disbursed), 2021 & 2026F:

Two Wheelers
Three Wheelers
Four Wheelers

By Type of Ownership (by Credit disbursed), 2021 & 2026F:

Used Cars
New Cars

By Category of Vehicles (by Credit disbursed), 2021 & 2026F:

Passenger Vehicles
Commercial Vehicles

By Duration of Loan (by Credit disbursed), 2021 & 2026F:

12 – 14 months
25 – 48 months
49 – 60 months

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Key Target Audience

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

Time Period Captured in the Report:

Historical Period: 2016-2020
Base Year: 2021
Forecast Period: 2022 – 2026F

Companies Covered:

Dubai Islamic Bank
Commercial Bank of Dubai
Emirates NBD
HSBC
Noor Bank
Abu Dhabi Islamic Bank
Al Hilal Bank
Ajman Bank
ADCB Islamic Bank
Arab Bank
RakBank
Sharjah Islamic Bank
Emirates Islamic Bank
First Abu Dhabi Bank
Mashreq Bank
Dunia Finance
Reem Finance
Siraj Finance
Finance House
Dubai First

Key Topics Covered in the Report:

Executive Summary for UAE Auto Finance Market Outlook to 2026F
Country Overview of UAE
UAE Auto Finance Market Overview and Genesis
Ecosystem of Major Entities in UAE Auto Finance Market
UAE Automotive Market - Major OEM Brands basis Passenger Car Sales
Objectives of Captives
Types of Car Loans in UAE Auto Finance Industry
Value Chain of UAE Auto Finance Industry
UAE Auto Finance Market Size
UAE Auto Finance Market Segmentations
Industry Analysis of UAE Auto Finance Market
Decision Making Parameters for selecting Auto Finance Vendors
Trends and Developments in UAE Auto Finance Market
Challenges faced by End Users in UAE Auto Finance Market
SWOT Analysis of UAE Auto Finance Market
Government Regulations in the UAE Auto Finance Market
Customer Journey
COVID 19 Impact on UAE Auto Finance Industry
UAE Auto Finance Aggregator Market
Cross Comparison of Major Companies in UAE Auto Finance Market
Future Outlook and Market Size for UAE Auto Finance Market 2021-2026F
Analyst Recommendations

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Future Outlook UAE Auto Finance Market

Related Reports by Ken Research: -

KSA Auto Finance Market Outlook to 2026F

Thailand Auto Finance Market Outlook to 2024

KSA Car Finance Market is expected to grow at 11.7% over 2021-2026: Ken Research

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Focus On Embracing Digitization, New Government Policies under Vision 2030 and Entry of Women in the market are major factors contributing towards development of Car Financing in KSA.

Growth of Online Platforms: The last decade has witnessed the entry of various online auto classified platforms in the country such as Carnab and Motary. The internet penetration in the Kingdom stood at ~98% in January 2021, highlighting the growing presence of consumers online. The traction towards online platforms has led to banks, finance companies and car brands listing their fleet online along with the option to start loan application online. This improves the car selection process for consumers by saving time.

KSA Car Finance Market

Increasing demand for Used & New Cars in KSA: Sales of cars are projected to increase from 475.8 thousand in 2021 to 540.7 thousand by 2026. Governments focus on shifting towards EV cars are also boosting the sale of cars; leading to increasing car financing in KSA. With the increasing number of women drivers in KSA and increasing car prices, people are shifting their preferences towards buying pre-owned cars. This is a major growth driver of the industry, as the interest rates for used car financing are higher than new car financing.

Business Model: Traditional business models need to change and evolve with changing market trends. Large retail showrooms incur high overhead costs, like rentals and staff, hence needing new distribution models as car volumes continue to decline. Cost control will be critical in the short term.

COVID affecting Market Growth: COVID has impacted the production in the market. Car manufacturers underestimated the demand and couldn’t accurately predict the vehicles demand in the future and hence miscalculated the production requirements. Also, the lack of supply of vehicles was pronounced even more due to a global shortage of semiconductors chips. The semiconductor chip shortage is expected to cost the global automotive industry $110 billion in revenue in 2021.

Analysts at Ken Research in their latest publication “KSA Car Finance Market Outlook to 2026F- Driven by Women Entering the Market, Increasing Employment Opportunities in the Kingdom” by Ken Research observed that KSA Car Finance Market is in the growing phase. Enhancing Service Offerings, collaborations with partners, expand pipeline with predictive analysis and getting in front of prospects through AI are some of the factors that will contributed to the KSA Car Finance market growth over the period of 2021-2026F. It is expected that KSA Car Finance Market will grow at a CAGR of 11.7% for the above forecasted period.

Key Segments Covered in the report

KSA Car Finance Market

By Type of Vehicle Financing
New car financing
Used car financing

By Type of Car Financed
Hatchbacks
Sedans
Sports Utility Vehicle
Multi-Purpose Vehicle

By Price
High (500,000+)
Medium (200k-500k)
Low (below 200K)
By Type of Institution
Banks
NBFC's
Captives
By Tenure of Loans
<2 years
3-4 years
4-5 years
By Major Cities
Riyadh
Jeddah
Dammam
Others
By Booking Mode
Online
Offline

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Key Target Audience

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

Time Period Captured in the Report:

Historical Period: 2017-2021
Base Period: 2021
Forecast Period: 2022-2026F

Companies Covered:

Banks

Al Rajhi Bank
Riyad Bank
Al Jazeera Bank
Alinma Bank
Arab National Bank

NBFC’s

Al Yusr Leasing and Financing
Al Amthal Financing Company
National Finance House
Tajeer Finance
National Finance Company
Murabaha Marina Finance Company

OEM’s

Abdul Latif Jameel United Finance Co. (Toyota Distributor)
ALJABR FINANCE (KIA Distributor)
Walan finance company (hyundai)
Geely Finance (Geely Distributor)

Key Topics Covered in the Report

KSA Automotive Market Overview
Ecosystem, Business Cycle and Evolution of KSA Car Finance Market
KSA Car Finance Value Chain Analysis
Islamic Banking and Car Finance in KSA
KSA Car Finance Market by Credit Disbursed, 2017-2021
KSA Car Finance Market by Outstanding loans, 2017-2021
KSA Car Finance Market Segmentation, 2021
SWOT Analysis of KSA Car Finance Industry
Infrastructure Development Overview of KSA
Trends and Developments in KSA Car Finance Industry
Operational Strategies for KSA Car Finance Services Market
Issues and Challenges in KSA Car Finance Industry
Government Policies and Initiatives for Automotive Industry
Growth Drivers of KSA Car Finance Market
KSA Car Finance Market Competition Overview
Cross Comparison of Major Players in KSA Car Finance Market
Strengths and Weakness of Major Players in KSA Car finance market
Future Outlook and Market Projections, 2026F
Case Study on Al Rajhi Bank
Growth strategies for KSA Car Finance Market

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

KSA Car Finance Market Outlook to 2026F: Ken Research

Indonesia Car Finance Market Outlook to 2024

Egypt Car Finance Market Outlook to 2021

India Dental Services Market is expected to grow at robust CAGR of 9.6% by 2027F: Ken Research

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Dental tourism is forecasted to grow at a robust value in comparison to the past years.
Majority of the India Dental Services Market revenue is predicted to come from the dental clinics (organized & unorganized).
Number of dentists is expected to grow at 7.2% in the forecasted period in India.

Rising awareness of Dental Services: Awareness regarding oral hygiene among the Indian population is growing due to the National Oral Healthcare Program. This is expected to contribute to the market growth over the forecast period. With the changing demographics and a change in lifestyle, aesthetically driven patients seek tooth treatment procedures & dental implants not as a part of their medical needs but as a cosmetic procedure to enhance beauty. The entertainment industry is also fueling the growth of cosmetic procedures in dentistry.

Government Initiatives: The Government of India has taken many initiatives such as Public Private Partnership, National AYUSH Mission, Vision 2035: Public Health Surveillance in India and Ayushman Bharat Digital Mission for the betterment and growth of the Dental Services Market in India. Government policies such as National oral program, will increase the number of dental colleges and labs, further driving the market.

Rise in Home consultation: Due to the COVID-19 pandemic, home and online consultations are on the rise and many online companies such as practo has tie ups with dentists all over India and they provide online consultations to the patients on a fixed fee.

Digitization and incorporating technology: An increase in technology in the dental services such as 3D scanning and CAD/CAM technology is being preferred by the new age dental clinics to take the scan of the patient's teeth and on the basis of the scan, aligners and braces are 3D printed. This type of technology is currently being used by companies such as Toothsi and Smiles.ai. Therefore, in the near future, technological advancement will complement the growth in the dental services market.

The report observed that the Dental Services Market in India is expected to grow at a positive CAGR of 9.6% during FY’2022-FY’2027F, owing to the rising adoption of teeth appearance improvement procedures, orthodontics segment is expected to witness a fast growth. Prevalence of dental disorders and increasing number of small and private dental clinics will lead to an increase in the number of dental chains in the country.

Key Segments Covered:-

India Dental Services Market:

By Types of Services:

Endodontics

Cosmetic Dentistry

Prosthodontics

Orthodontics

Periodontics

Implantology

Others (wisdom teeth removal, facial trauma, corrective jaw surgery and other minor surgeries)

By Revenue Division

Domestic

International Tourist

By End Users

Dental Clinics (Organized + Unorganized)

Hospitals

By Dental Clinics

Unorganized Dental Clinics

Organized Dental Clinics

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By Cities

Tier-1

Tier-2

Tier-3

Key Target Audience:-

Dental Service Providers

Dental Equipment Distributors

Dental Equipment Manufacturers

Dental Clinics

Hospitals

Healthcare Companies

Pharmaceutical Companies

Tourism Agencies

Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

Historical Period: FY’2017-FY’2021

Base Year: FY’2022

Forecast Period: FY’2022– 2027F

Companies Covered:-

Dental Services Providers

Clove Dental

Partha Dental Skin & Hair

Orthosquare Dental Clinic

Sabka Dentist

Apollo White Dental

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Key Topics Covered in the Report:-

India Dental Services Market Overview

India Healthcare Overview

Ecosystem of India Dental Services Market

Business Cycle and Genesis of India Dental Services Market

End User Analysis of India Dental Services Market

Consumer Journey in India Dental Services Market

Industry Analysis of India Dental Services Market

Key Growth Drivers in Dental Service Market in India

Major Challenges and Bottlenecks in India Dental Services Market

Regulatory Framework in India Dental Services Market

Competitive Landscape in in India Dental Services Market

Market Share of Major Dental Services Providers in India Dental Services Market

Detailed Analysis on India Dental Services Market (Market Size and Segmentation, 2017-2022; Future Market Size and Segmentation, 2022-2027F)

Market Opportunity and Analyst Recommendations

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

India Dental Services Market

Related Reports By Ken Research:-

Malaysia Dental Services Market Outlook to 2026F

Vietnam Dental Services Market Outlook To 2023

Singapore Dental Services Market Outlook to 2026F

Missile Defense System Market Size, Share, Industry Report 2022-2028: Ken Research

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Stand-off weaponry, bombers, helicopters, unmanned aerial vehicles (UAVs), and combat aircraft are all attacked with missile defense systems. Systems for missile defense are made to deal with aerial threats over a variety of lengths, from short to extend to long. Additionally, countries are raising their military budgets in response to escalating geopolitical tensions and worries about terrorism, which is driving up spending on missile defense systems along land and marine borders. This is expected to be the main factor driving the market's expansion over the forecast timeframe.

According to Ken Research Analysis, the Global Missiles and Missile Defense Systems Market was valued at ~US$ 20 billion in 2017. The market for Missiles and Missile Defense Systems will be driven by government spending on missiles and missile defense systems across national land and water borders is being driven by rising military budgets in response to rising geopolitical tensions among various countries and fears about terrorism.

It is estimated to be ~US$ 26 billion in 2022 and is expected to reach a market size of ~US$ 40 billion by 2028 growing at a CAGR of ~7% during 2022-2028.

Global Missiles and Missile Defense Systems Market

Governments are boosting their military spending as a result of escalating geopolitical tensions and worries about terrorism, which is leading to significant investments in missile defense systems (and accompanying missiles) across its land and water borders.
Government agencies and the private sector are collaborating to develop hypersonic missiles and missile defense systems that are technologically cutting edge. The application of artificial intelligence to missile systems is anticipated to hasten the market's future growth.
The rising expenses of creating missile defense systems and worldwide ambitions to transport such systems and weapons across other nations are the two most important variables that could restrain the market's expansion.
Due to the COVID-19 pandemic and the implementation of lockdown by governments, major Missiles and Missile Defense Systems manufacturing companies were partially or completely shut down and were unable to sort operations while working remotely as the area requires the on-site presence of an expert workforce.

Key Trends by Market Segment

By Range - The Short (Up to 1,000 kms) segment dominated the market in 202. It is employed in regional conflicts in the past and in the future because of the close proximity of some nations, as well as its affordability and simplicity of configuration.

The need for short-range missiles to protect against close, short-range threats from adversary attacks has been fueled by military conflicts involving numerous nations.
In January 2022, the Indian navy, in partnership with the DRDO, successfully tested the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM), which will be outfitted with Indian naval warships.

Global Missiles and Missile Defense Systems Market

By Missile Type - The Anti-Aircraft Missiles segment is expected to be the fastest growing market during the forecast period owing to the adoption of the anti-aircraft missile by various countries worldwide.

Anti-aircraft missiles are guided weapons intended to harm or kill airplanes and include surface-to-air missiles, air-to-air missiles, and subsurface-to-air missiles.
In June 2022, Germany promised to provide Ukraine with cutting-edge anti-aircraft systems.

By Missile Defence system – The Surface-To-Surface Missiles segment accounted for the highest market share in 2021 in the Global Missile And Missile Defense System Market.

The growth is primarily due to Surface-to-air missiles (SAMs) of any type can be launched from the ground using missile launchers to combat incoming enemy missiles.
In December 22, 2021, the Defence Research and Development Organization (DRDO), India successfully carried out the first flight test of the home-grown surface-to-surface missile "Pralay" from Dr. A P J Abdul Kalam Island off the coast of Odisha, India.

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By Geography: North America accounted for the largest market share among all regions in 2021 owing to the rise in investments for defense and military systems in USA.

According to the U.S. Missile Defense Agency (MDA), in November 2020 a Standard Missile 3 (SM-3) Block IIA interceptor successfully destroyed an intercontinental-range ballistic missile (ICBM) target in a test for the first time. The SM-3 Block IIA is now the second American interceptor type to demonstrate this capability, a significant accomplishment. The effects for future weapons control and geopolitical stability are grave.
Major companies such as Boeing, General Electric, Lockheed Martin Corporation, Northrop Grumman, and many more are based in USA

Global Missiles and Missile Defense Systems Market

Competitive Landscape

The Global Missiles and Missile Defense Systems Market are fragmented with ~260 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Missiles and Missile Defense Systems. Large global players represent the largest number ~50% of competitors, while country niche players constitute ~20% of competitors. Enhancing defenses against drones is a priority for the industry players related to the field. Government agencies and business entities are working together to develop technologically advanced missiles and missile defense systems, such as hypersonic missiles. Some of the major players in the market include MBDA Inc., BAE Systems., Boeing, General Electric, Lockheed Martin Corporation., Northrop Grumman, Kongsberg, Bharat Dynamics Limited, L3Harris Technologies, Inc., Israel Aerospace Industries Ltd, and others.

Global Missiles and Missile Defense Systems Market

Recent Developments Related to Major Players

In July 2022, L3Harris Technologies has been awarded a contract to build the Tranche 1 Tracking Layer satellite programme for the Space Development Agency (SDA), which will serve as "eyes in the sky" detecting, identifying, and tracking advanced missile threats. The contract could be worth US$700 million in total.
In March 2019, the United States Army awarded a US$713 million contract to Northrop Grumman Corporation for the production of an Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS) for the first phase of Poland's WISA air and defense program.

Key Topics Covered in the Report

Snapshot of Missiles and Missile Defense Systems Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Missiles and Missile Defense Systems Market
Historic Growth of the Overall Missiles and Missile Defense Systems Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Missiles and Missile Defense Systems Market Industry
Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Missiles and Missile Defense Systems Market
Future Market Forecast and Growth Rates of the Total Missiles and Missile Defense Systems Market and by Segments
Market Size of Segments with Historical CAGR and Future Forecasts
Analysis of the Missiles and Missile Defense Systems Market in Global Regions
Major Missiles and Missile Defense Systems Type/Supply and Consumption/Demand Hubs in the Region
Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within the Region

Notable Key Players Mentioned in the Report

MBDA Inc.
BAE Systems.
Boeing
General Electric
Lockheed Martin Corporation
Northrop Grumman
Kongsberg
Bharat Dynamics Limited
L3Harris Technologies, Inc.
Israel Aerospace Industries Ltd

Notable Emerging Companies Mentioned in the Report

lvlAlpha
ESSI Security and Defence
TechEagle Innovations
Chara Technologies
Evigway Technologies

Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report

Missiles and Missile Defense Systems Manufacturers
Missiles and Missile Defense Systems Product Assemblers
Missiles and Missile Defense Systems Component suppliers
Raw Material Suppliers for Missiles and Missile Defense Systems
Potential Investors in Missiles and Missile Defense Systems Companies
Value Added Resellers
Industrial OEMs of Missiles and Missile Defense Systems
Industrial Guidance Mechanism Solutions Providers
Missiles and Missile Defense Systems Companies
Missiles and Missile Defense Systems Industry Associations
Missiles and Missile Defense Systems Research Groups
Ministries of Arms and Defense

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

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

Global Missiles and Missile Defense Systems Market: Ken Research

Global Digital Twin Market Size, Outlook, and Revenue Forecast: Ken Research

Market Overview:

A digital twin is a digital representation of a real-world entity or system. The implementation of the digital twin is an encapsulated software object or model that reflects a unique physical object, process, organization, person, or other abstraction. Data from multiple digital twins can be used for composite views across different real-world entities, such as power plants or cities and their associated processes. For instance, wind turbines are equipped with various sensors related to important functional areas. These sensors generate data on various aspects of physical object performance, such as energy output, temperature, and weather conditions.

According to Ken Research Analysis, the Global Digital Twin Market was valued at ~US$ 3 billion in 2017. It is estimated to be ~US$ 8 billion in 2022 and is forecasted to reach a market size of ~US$ 40 billion, growing at a CAGR of ~30% owing to the rising demand from the manufacturing industry.

Increasing the use of digital twins in manufacturing sectors to cut costs and enhance supply chain efficiency is the major driving factor for the digital twin market. The advantage of using digital twin is that it helps to reduce the extra cost and time needed at the manufacturing time. Digital Twin helps engineers improve a product's performance by analyzing and altering the physical design of the prototype, due to which almost all industries are using this technology for the enhancement of their business.
The cost of implementing Digital Twin technology in an organization is pretty high. High cost of implementation act as a barrier to the growth of the global digital twin market. Digital twins & related technologies
The market was negatively impacted by the COVID-19 pandemic during the first half of 2020, owing to the strict regulations in several countries that temporarily halted all types of companies. Production halts and supply chain disruptions during the COVID-19 pandemic led to the suspension of several other activities along the value chain of industries, such as aerospace, manufacturing, and automotive. However, the market experienced a sudden boom as all the companies were adopting digital twin as a part of its processes. Digital twins could help build predictive models and determine the probability of success of physical prototypes before they are rolled out. The pandemic has accelerated the adoption of digital twin technology across various applications in several verticals beyond manufacturing, including real estate, healthcare, telecom, and retail, driving the growth prospects of the market.

Scope of the Report:

The Digital Twin market is segmented by type, application, end-user and region. In addition, the report also covers the market size for each of the four regions' Digital Twin market. The revenue used to size and forecast the market for each segment is US$ billion.

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Type	Parts Twin Product Twin Process Twin System Twin
Application	Product Design Product Development Inventory Management Predictive Maintenance Performance Monitoring Business Optimization Others
End-User	Aerospace & Defense Automotive & Transportation Manufacturing Healthcare Retail Energy & Utilities Home & Commercial IT& Telecom
Region	North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific) LAMEA (Latin America, Middle East, Africa)
Key Players	Accenture Autodesk Inc. General Electric IBM Corporation Microsoft Bentley Systems, Incorporated Robert Bosch GmbH SAP SE Schneider Electric Siemens

Key Trends by Market Segment
By Type: The system twin segment held the largest market share in the global digital twin market in 2021, owing to the high deployment of digital twins for designing and developing prototypes of communication systems, full-scale automotive models, and piping systems in the oil & gas industry, among others.

System twins help engineers observe the system performance and synchronization of components during operation. The deployment of digital twin technology helps identify any anomalies in system operations and enhance performance.
The process segment is expected to register the highest CAGR during the forecast period, as the organizations are focusing on improving coordination across operations to optimize workflow processes and cut down on operational costs.

By Application: The product design segment held the largest market share in the global digital twin market in 2021, due to mounting demand for digital twin technology in product design and development applications.

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Digital twin technology speeds up the designing process, improving the time-to-market for new products, which is foreseen to further accelerate product penetration in the sector.
Businesses with a complete digital footprint of products are increasingly incorporating digital twin technology as it allows them to identify physical issues sooner and track outcomes precisely, enhancing product quality and life cycle.

By End-User: The automotive & transportation segment held the largest market share in the global digital twin market in 2021, due to the adoption of Electric Vehicles (EVs), lean adoption, and the rising usage of simulation technologies.

The incorporation of digital twin technology in the automotive sector helps engineers capture operational and behavioral data of the vehicle, thereby facilitating further enhancements in automobile design and optimizing costs.
Upcoming trends in the automobile industry, including autonomous and connected vehicles, shared mobility, and electrification, are also expected to increase the adoption of this technology.

By Region: North Americaheld the largest market share among all other regions within the global digital twin market in 2021, due to the supporting government policies to augment the growth of the region.

North America is the prime hub of the different manufacturers as well as suppliers of digital twin technology, and due to the digitalization of industries such as manufacturing, automotive, and healthcare in the region, the demand for digital twin has increased.
North America dominates the IoT industry in aerospace, automotive, and manufacturing. The region has developed economies like the USA and Canada, where massive investments are found in R&D activities, thus contributing to developing new technologies such as smart sensors, edge analytics, 3D printing, and digital twin.

Competitive Landscape

The Global Digital Twin Market is highly competitive with ~200 players, including globally diversified players, regional players, and many country-niche players. Most of the regional players are the developers of digital twin used in various end-user industries.

Country-niche players constitute ~35% of the total number of competitors, while regional players dominate representing ~45% of total competitors. Some of the major players in the market include Accenture, Autodesk Inc., General Electric, IBM Corporation, Microsoft, Bentley Systems, Incorporated, Robert Bosch GmbH, SAP SE, Schneider Electric, and Siemens, among others.

Recent Developments Related to Major Players and Organizations

In September 2022, two U.K.-based technology companies, Sharp End Partnership, Ltd and Threedium LTD, combined their top technology solutions to let marketers provide linked experiences with Metaverse. The interactions include the ability to quickly tap or scan embedded QR and NFC to unlock digital twins of physical objects. Through this, brands could soon activate storytelling 3D/AR applications and tokenize their products.

In March 2022, Valiot, a USA-based AI and software company, enhanced its manufacturing software through digital twin technology. Artificial intelligence capabilities applied to the value chain empowered manufacturers to predict and react to unexpected changes in every part of the value chain, including demand, supply, production, and distribution.

In March 2021, The Lamina Tower, an ultra-luxury residential condominium tower in the Middle East, partnered with Cityzenith LLC to create a multi-purpose digital twin using the SmartWorldOS Digital Twin desktop application to create a 3D view of the property and surroundings, along with other requirements.

Conclusion

The Global Digital Twin Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of processes and shut down all the major industries. System twin is the most common type of digital twin among other types such as part twin, product twin, and process twin. Majorly, the digital twin technology is used for product design and development that can further be utilized in various end-use industries such as aerospace & defense, automotive & transportation, manufacturing, healthcare, retail, and others. Though the market is competitive with over ~200 participants, regional players control the dominant share in the market and country-niche players also hold a significant share.

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

Snapshot of Global Digital Twin Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Digital Twin Market
Historic Growth of Overall Global Digital Twin Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of Global Digital Twin Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Digital Twin Market
Future Market Forecast and Growth Rates of the Total Global Digital Twin Market and Segments
Analysis of Global Digital Twin Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

Accenture
Autodesk Inc.
General Electric
IBM Corporation
Microsoft
Bentley Systems, Incorporated
Robert Bosch GmbH
SAP SE
Schneider Electric
Siemens

Notable Emerging Companies Mentioned in the Report

Digital Construction Works
Allvision IO
DigitalTwin Technology GmbH
MEIK LABS SpA
MetaTwin GmbH

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

Digital Twin Solution Developers
Digital Twin Solution Suppliers
Digital Twin Solution Implementors
Product Twin Developers
Process Twin Developers
System Twin Developers
Digital Twin Distributors
Emerging and Startups in Digital Twin Industry
Simulation Solutions Companies
Different Types of Digital Twin Manufacturing Hubs
Government Departments of Electronics
Government Ministries and Departments of Information Technology
Financial Institutions focused on Information Technology Industry
PE and VC Firms focused on Information Technology Industry
Potential Entrants into Information Technology Industry
Potential Entrants into Simulation Solutions

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Digital Twin Market: Ken Research

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Rapid Growth of Quick Commerce, Growing Digital Advancement to drive Australian Ecommerce logistic market: Ken Research

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Burgeoning Demand for Last-mile Delivery Services: To fulfil the need for instant gratification via efficient delivery of goods to consumers has propagated the demand for last mile delivery services. Ever growing e-commerce industry in Australia catalyzed by the boost experience during COVID-19 has cemented the demand for last-mile delivery services. There have been various strategic alliances between Australia Post and Aramex, Sherpa and Shipr, Takeoff Technologies and Woolworths Group among others towards last mile delivery.

Augmenting Use of EVs for Transportation: Logistics players in Australia have started utilizing EV truck solutions by establishing strategic partnerships, distribution agreements, etc. It helps in minimizing carbon footprints and reduce operational costs. Bolloré Logistics Australia, and Primary Connect in collaboration with Linfox Logistics have been some players utilizing EV trucks for goods delivery in Australia.

Growing Count of Logistics Startup: With exploding e-commerce industry in Australia, the count of new logistics startups has raised considerably to provide unique solutions. Key startups include Go Fetch, Explorate, Swoop Aero, Adiona Tech, among various others with major focus areas on accelerating process, integrating technology, optimizing supply chain, etc. Integration of AI, warehouse automation systems, analytics, etc., have helped logistic players to predict demand and forecast supply. Advent of BNPL, payment wallet, short-term credit lines, and others have stimulated the e-commerce growth. Subsequently, propagating logistics business.

Adoption of New Technologies: Adoption of Technologies like Warehouse Management System (WMS), Product Information Management (PIM), Digital Asset Management (DAM), and other technologies. The Adoption of these technologies can be seen by large-scale logistics players, such as Australia Post, Woolworths, etc., in Australia. With these New Technologies companies ensure Streamline operational activities, ensure updated SKUs, and proper management of digital assets. Anchanto, IBM Product Master, Productsup, Brandfolder, Adobe Experience Manager Assets, etc., are some of the vendors.

Analysts at Ken Research in their latest publication “Australia E-Commerce Logistics Market Outlook to 2026- Driven by rapid integration of automation technology & changing consumer shopping habits” by Ken Research observed that E-Commerce Logistics Market is an emergent market in Australia, which is at a growing stage even during the pandemic as well. The Rising Demand for Last-mile Delivery Services, Inclusion of E-Vehicles for Transportation with Growing Digital Advancement and Rapid Growth of Quick Commerce, are expected to contribute to the market growth over the forecast period. The Australia E-Commerce Logistic Market is expected to see high growth rate over the forecasted period 2022-2026F.

Key Segments Covered

Australia E-Commerce Logistics Market (Revenue, Shipment, Average Cost and No of Orders and more)

By Type of Shipment (By Shipment), 2021 & 2026F

Domestic shipments

International shipments

By Time Duration (By Shipment), 2021 & 2026F

Same Day

2-4 Days

More than 4 days

By Delivery Area (By Shipment), 2021 & 2026F

Interstate

Intrastate

By Delivery Area (By Shipment), 2021 & 2026F

Intercity

Intracity

By Mode of transport (By Shipment), 2021 & 2026F

Ground

Air & Sea

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By Payment Method (By Shipment), 2021 & 2026F

Cash On Delivery

Online Payment

By Orders (By Shipment), 2021 & 2026F

Accepted Orders

Rejected Orders

Key Target Audience

E-commerce Companies

Third Party Logistics Companies

Potential Market Entrants

E - Retailers

Integrates Logistics Companies

Logistics/Supply Chain Industry Associations

Time Period Captured in the Report

Historical Period: 2016-2020

Base Year: 2021

Forecast Period: 2022– 2026F

Companies Covered

Australia Post

DHL

FedEx

Linfox

Toll group

DB Schenker

Couriers Please

UPS

Mainfreight

Aramex

DTDC

E-store logistics

StarTrack

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Key Topics Covered in the Report

Socio-Economic Outlook of Australia

Internet Penetration of Australia

Overview of Retail Purchases and Categories of Online Shoppers in Australia

Demand Infrastructure- Ecosystem of Major E-Commerce Players and Sellers

Global Retail Industry Compared to Australian Market

Australia E-commerce Logistics Market Size, 2016-2021

Australia E-Commerce Logistics Market Segmentation by Domestic/ International Shipments, 2021

Australia E-Commerce Logistics Market Segmentation by Time Duration, 2021

Australia E-Commerce Logistics Market Segmentation by Delivery Area and Ground or Air and Sea Transport, 2021

Australia E-Commerce Logistics Market Segmentation by Payment Method and Accepted and Returned Orders, 2021

Australia E-Commerce Logistics Market Growth Drivers

SWOT Analysis of the industry

Trends and Developments in the Industry

Issues and challenges in the industry

Several Technological Disruptions in Australia E-commerce Logistics Industry

Key Challenges for E-Commerce Logistics Providers in Australia

Challenges for E-Commerce Players in Australia

Government Rules and Regulations in Australia E-Commerce Market

Government initiatives in the industry

Impact of Covid-19 on Australia’s E-commerce Logistics

Snapshot of E-commerce Warehousing

Demand Analysis

Cross Comparison- Major Online E-Commerce Players

Competitive Landscape Basis Major Ecommerce Logistic Players in Australia

Cross Comparison of major Ecommerce Logistic Companies on the basis of Business Landscape

Recent Mergers and Acquisitions in E-commerce Logistics Market in Australia

Investment Analysis of Logistics Tech Startups

Future Outlook

Analyst Recommendations

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

Australia E-Commerce Logistics Market

Related Reports By Ken Research:-

Singapore E-Commerce Logistics Market Outlook to 2026F

UAE E-Commerce Logistics Market Outlook to 2025

India E-Commerce Logistics Market Outlook to 2025

Global Epoxy Resin Market Size, Growth and Future Outlook: Ken Research

Market Overview:

Epoxy resin refers to a type of reactive prepolymer and polymer containing epoxide groups. These resins react either with themselves in the presence of catalysts, or with many co-reactants like amines, phenols, and thiols. Epoxy resin is a type of resin with tough mechanical properties, good chemical resistance, and high adhesive strength, making it highly useful for various applications. Due to more thermal and chemical resistance than other types of resin, it has exclusive usage in making aircraft components.

The Global Epoxy Resin Market is expected to record a positive CAGR of ~7% during the forecast period (2022-2028), due to the rapid industrialization and rise in demand from the building and construction industries.

Due to the adaptive nature of epoxy compounds, resins have gained recognition in several industries such as construction, automobile, aviation, electromechanical, telecommunications, energy, and others.
The growing construction industry is expected to augment the growth of the paints and coatings industry. In 2021, the government of Europe planned to construct around 1.5 million housing units. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resin market.
For instance, according to the National Development and Reform Commission (NDRC), in 2019, the government of China approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning around USD 1,400 Bn for a digital infrastructure public spending program.
Epoxies are made with petroleum-based basic ingredients like BPA (Bisphenol A) and ECH (Epichlorohydrin). Thus, changes in the crude oil price have a considerable impact on the pricing of these many raw materials, as well as the basic costs of epoxy resin. Price fluctuations have a detrimental influence on profit margins, particularly for small-scale producers, which hampers the growth of the market.
The market was negatively impacted by the COVID-19 pandemic in 2021, owing to the strict regulations in several countries. This affected various industries such as paints and coatings, adhesives and sealants, electrical and electronics, and others due to supply chain disruptions, work stoppages, and labor shortages. The global pandemic caused a ban on imports-exports thereby disrupting the supply chain and hampering the market.
The demand for epoxy resin decreased in the aerospace, transportation, and marine industries, as all the industries were shut and due to this, demand for resin had been impacted negatively.

Scope of the Report:

The Epoxy Resin Market is segmented by Raw Material, Physical Form, Technology, Application, End-User, and Geography. In addition, the report also covers the market size for each of the four regions' Epoxy Resin Market. The revenue used to size and forecast the market for each segment is USD billion.

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By Raw Material	DGBEA DGBEF Novolac Aliphatic Glycidylamine Others
By Physical Form	Solid Liquid Solution
By Technology	Solvent Cut Epoxy Liquid Epoxy Waterborne Epoxy Others
By Application	Paints & Coatings Wind Turbines & Composites Construction Electrical & Electronics Adhesives & Sealants Others
By End-User	Building & Construction Transportation Consumer Goods Wind Energy Aerospace Marine Others
By Geography	North America (USA, Canada, and Mexico) Europe (France, Italy, Germany, Spain, UK, and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific) LAMEA (Latin America, Middle East, and Africa)
Major Players	3M BASF SE Huntsman International LLC Hexion The Dow Chemical Company Kukdo Chemical Co., Ltd Solvay Olin Corporation China Petrochemical Corporation Aditya Birla Management Corporation Pvt. Ltd. Kolon Industries, Inc

Key Trends by Market Segment

By Raw Material: DGBEF segment held the largest market share of the Global Epoxy Resin Market in 2021, as it improves thermal stability, has strong mechanical properties, and provides moisture resistance. It is used extensively across multiple end-user industries such as building & construction and automotive.

DGBEF is Diglycidyl Ether Bisphenol F, a reaction product of phenol and formaldehyde. This type of epoxy resin is sold as liquids and solid resin dissolved in solvent and prepregs.
DGBEF performs better in resisting chemical attack as compared to other types, owing to its higher density of cross-links.

By Physical Form: The liquid form segment held the largest market share of the Global Epoxy Resin Market in 2021. The reason behind the largest share of this segment is a wide area of applications in almost all industries.

Epoxy resin in liquid form prevents corrosion and as a sealant, it protects surfaces, including pipelines, metal, floors, countertops, and equipment parts.
It is often found in transistors and electrical circuits to protect parts from moisture, dirt, dust, and other debris that can damage materials over time.
In March 2019, Axalta launched liquid epoxy-based casting resin system, Voltacast 3310/Voltacast H134. The launch of products expanded the Voltacast product portfolio of casting resins from Axalta’s Energy Solutions business.

By Application: The paint & coatings segment held the largest market share of the Global Epoxy Resin Market in 2021, resins are widely utilized in residential & commercial buildings, shipbuilding industries, automotive, and wastewater treatment plants among others owing to their excellent resistance to stains, cracks, extreme temperatures, blistering, and chemicals.

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Epoxy paints are used to impart enhanced finish to the concrete floor. They are increasingly used in the automotive, electrical, flooring, and marine industry owing to their quick drying and tough nature.
These are also used as binders for coating applications to enhance the durability of coatings for floor and metal applications.
In April 2021, Sika Group increased its concrete admixture production capacity in Qatar and began producing epoxy resins for high-quality floor coverings and adhesives.

By Geography: The Asia Pacific accounted for the largest share among all regions within the global epoxy resin market in 2021.

Asia-Pacific dominates the epoxy resin market due to the rapid industrialization and rise in demand from various industries such as building & construction, automotive, marine, aerospace, and others.
Asia-Pacific is the leading producer of epoxy resin, attributed to increasing alliances between leading players that help with new products in the market.
The rising number of infrastructure development projects and the rapidly growing manufacturing industry are the key factors expected to drive the market over the forecast period.
Europe has the second greatest largest market share, followed by North America for the year 2021. Automotive, wind energy, and composites are driving the expansion of low and high-cured epoxy resins in Europe.
Increased digitalization in North America is driving up demand for electrical and electronic equipment. These systems employ long-lasting and dependable epoxy-based components to minimize costs and increase performance.
The construction industry has recovered smoothly from the 2020 crash, and it is set for resurgent growth over the next few years, particularly in developing regions such as the Asia Pacific and Latin America.

Competitive Landscape

The Global Epoxy Resin Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players. Most of the country-niche players are the suppliers of raw materials used in the manufacturing of epoxy resin, used for different applications.

. Some of the major players in the market include 3M, BASF SE, Huntsman International LLC, Hexion, The Dow Chemical Company, China Petrochemical Corporation, KUKDO CHEMICAL CO., LTD, Solvay, Olin Corporation., among others.

The leading global specialist companies such as BASF SE, Solvay, China Petrochemical Corporation are highly focused on providing a significant number of Epoxy Resin products that can be used across Paints & Coatings, Electronics, Adhesives industries and more.

Recent Developments Related to Major Players and Organizations

In November 2021, Hexoin Inc. announced its definitive agreement with Westlake Chemical Corporation. Hexion Inc. sold Hexion’s global epoxy business for approximately USD 1.2 Bn to Westlake Chemical Corporation company. The transaction was completed in the first half of 2022.
In October 2021, Azelis Holding S.A. announced their distribution agreement with BASF for the sales of resin products from the company. The collaboration boosted the company’s lateral value chain by adding market-leading products to its various market segments.
On April 1, 2021, Covestro AG successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition helped Covestro in the expansion of its portfolio of sustainable coating resin products.

Conclusion

The Global Epoxy Resin Market witnessed a dip in growth for the year 2020, owing to the COVID pandemic. There was a complete ban on imports and export that disrupted the supply chain and hampered the market globally. However, the market condition is expected to get better in 2022, thereby restoring growth over the forecast period. The market is primarily driven by the rapid industrialization and growing demand for epoxy resins from building & construction, coatings, adhesives, and other industries. Though the market is highly competitive with over ~300 participants, few global players control the dominant share and regional players also hold a significant share.

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

Key Topics Covered in the Report

Snapshot of Global Epoxy Resin Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Epoxy Resin Market
Historic Growth of Overall Global Epoxy Resin Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of Global Epoxy Resin Industry
Overview, Product Offerings, and Strength & Weakness of Key Competitors
Covid-19 Impact on the Overall Global Epoxy Resin Market
Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Epoxy Resin Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Major Companies Mentioned in the Report

3M
BASF SE
Huntsman International LLC
Hexion
The Dow Chemical Company
Kukdo Chemical Co., Ltd
Solvay
Olin Corporation
China Petrochemical Corporation
Aditya Birla Management Corporation Pvt. Ltd.
Kolon Industries, Inc

Notable Emerging Companies Mentioned in the Report

Jubail Chemical Industries LLC
Macro Polymers
NAMA Chemicals
Techstorm
Spolchemie
Jiangsu Sanmu Group Co., Ltd.
DIC Corporation
Atul Ltd
NAGASE & Co., Ltd.

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

Epoxy Resin Manufacturers
DGBEA Raw Materials Suppliers
DGBEF Raw Materials Suppliers
Novolac Raw Materials Suppliers
Aliphatic Raw Materials Suppliers
Glycidylamine Raw Materials Suppliers
Solvent Cut Epoxy Technology Manufacturers
Liquid Epoxy Technology Manufacturers
Waterborne Epoxy Technology Manufacturers
Epoxy Resin Distributors
Emerging and Startup Epoxy Resin Companies in the Market
Government Departments of Polymers and Other Chemicals
Ministries and Departments of Paint & Coating
Ministries and Departments of Construction Materials
Importers and Distributors of Epoxy Resin
Chemicals Testing and Regulatory Authorities
Chemicals Research Institutes

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For More Information on the Research Report, refer to below links: –

Global Epoxy Resin Market: Ken Research

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Global Microgreens Market Analysis, Future Outlook and Growth: Ken Research

Market Overview

Microgreens are small and delicate vegetables that are harvested when they form two cotyledons, a cotyledon is the first leaf of the plant to emerge from the seed after germination. It offers numerous health benefits as they are rich in antioxidants, vitamins, and minerals which helps in reducing the risk of several diseases such as heart disease, Alzheimer’s, diabetes, and cancer. Microgreens are widely used for improving the flavor of various cuisines such as salads, soups, flatbreads, pizzas, juices, and smoothies. It can be harvested using different farming techniques such as indoor farming, vertical farming, commercial greenhouses, and more, and are often used for residential and commercial purposes.

According to Ken Research Analysis, the Global Microgreens Market was valued at ~US$ 1 billion in 2017. It is estimated to be ~US$ 1.5 billion in 2022 and is expected to reach a market size of ~US$ 2.5 billion by 2028 growing with a CAGR of ~9% during 2022 to 2028. Some of the major factors that are likely to propel the growth of the market includes rise in health awareness, consumer spending, small-scale farming, and wide usage in restaurants and cosmetics industry.

The increasing public awareness of health issues and the use of indoor farming techniques is likely to propel the growth of the global microgreens market.

Microgreens are highly rich in vitamins, fibers, and minerals, many people are now adopting microgreens in their regular diet to avoid severe problems like high blood pressure, high cholesterol, gastrointestinal distress, and more.
Furthermore, microgreens such as broccoli, chicory, and lettuce contain high levels of vitamin E, vitamin A, and antioxidants, which will eventually help the consumer from major diseases like cancer and heart problems.

High initial cost, lack of distribution channels, and availability of fertile soil for microgreens production are some of the major challenges hindering the growth of the global microgreens market.

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The initial cost for microgreen farming is higher than any other farming as the soil and seeds are required to change for every new harvest. Price fluctuation in microgreen cultivation depends on type of microgreens, size of garden, soil vs. hydroponics, single item purchase vs kits, and cost of electricity and water.
The soil sometimes lacks major nutrients like nitrogen, potassium, and phosphorus which affects the final product, thus leading to huge losses to the farmer.

The COVID-19 pandemic slowed the growth of the global microgreens market, owing to the sudden shutdown of farming activities as well as disruption in the distribution channels such as retail stores, supermarkets, and hypermarkets worldwide. However, with the ease in lockdowns and the adoption of microgreens as healthy diet options are providing new growth opportunities for the global microgreens market

Scope of the Report

The global microgreens market is segmented by type, farming method, distribution channel, and end-user. In addition, the report also covers market size and forecasts for the four major regions for global microgreens markets. The revenue used to size and forecast the market for each segment is US$ billion.

By Type	Broccoli Cabbage Cauliflower Arugula Peas Basil Radish Others
By Farming Method	Indoor Vertical Farming Commercial Greenhouses Others
By Distribution Channel	Supermarkets & Hypermarkets Retail Stores Others
By End-User	Residential Commercial Others
By Region	North America (USA, Canada, and Mexico) Europe (France, Italy, Germany, Spain, UK, and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Indonesia, and Rest of Asia Pacific) LAMEA (Latin America, Middle East, and Africa)
Key Players	AeroFarms Good Leaf Farms Fresh Origins Gotham Greens Madar Farms 2BFresh Farmbox Greens Living Earth Farm Metro Microgreens Chef's Garden

Key Trends by Market Segment

By Type: The broccoli segment by type held the largest market share in 2021 in the global microgreens market.

The growth is primarily due to the major health benefits associated with broccoli microgreens such as preventing the risks of cancer and heart diseases as well as improving digestion of the consumers.
Furthermore, broccoli microgreens are more adopted by farmers as they are easy to grow and taste less bitter than their mature counterparts, which led to a high adoption rate among consumers over other microgreens.

By Farming Method: The indoor vertical farming method held the largest market share in 2021 in the global microgreens market.

The indoor vertical farming method is technique in which plants are cultivated in vertical stacked layers and are being monitored indoor with suitable temperature, lighting, irrigation and air circulation. One of the major advantages of indoor vertical farming is that it can produce more corps in less space as the production rate is significantly high compared to traditional farming.
Furthermore, as microgreens are easy to harvest and take less time in indoor farming rather than outdoor farming, thus many consumers are now focusing on growing microgreens in their indoor farms.

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By Distribution Channel: The retail store segment accounted for the largest market share in the distribution channel segment in 2021 for the global microgreens market.

The growth is primarily due to the easy accessibility of retail stores all around the globe. Microgreens are considered premium products thus many retail stores are now offering microgreens in their product lists.
The consumption of microgreens increased considerably post COVID-19 owing to the rise in wellness focused diet among consumers. Microgreens offer multiple health benefits such as low risk of heart dieses and cancer prevention due to high presence of vitamins, minerals, antioxidants and fibers.

By End-User: The commercial segment dominated the global microgreens market in 2021, owing to the adoption of microgreens in various commercial industries.

The growth is primarily due to the adoption of microgreens in food services, cosmetic industry, and herbal medicines.
Microgreens are rich in vitamins, fiber, minerals, and have a strong aroma, thus many restaurants are now using them as garnishing agents in pizzas, soups and pasta.

By Geography: North Americaaccounted for the largest market share among all regions within the total Global Microgreens Market in 2021.

The growth is primarily due to the new technological development for indoor vertical farming for various vegetables and microgreens farming.
USA is the major market for microgreens in North America owing to the indoor vertical farming capabilities as it offers massive scale productivity.
As the microgreens market is untapped and holds significant potential many organic vegetable farmers are now taking advantage of the considerably moderate competition in the microgreens market.

Competitive Landscape

The global microgreens market is significantly competitive with ~200 players, which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Microgreens organic production. Large global players constitute ~10% of competitors, while country-niche players represent ~60% of competitors. Some of the major players in the market include AeroFarms, Good Leaf Farms, Fresh Origins, Gotham Greens, Madar Farms, 2BFresh, Farmbox Greens, Living Earth Farm, Metro Microgreens, Chef's Garden, and among others.

Recent Developments Related to Major Players

In October 2021, AeroFarms expanded its distribution network in the Northeast and New England, including New Jersey, New York, Connecticut, Massachusetts, and Rhode Island, with the launch of more than 350 Stop & Shop stores.
In January 2021, GoodLeaf Farms developed a new 74,000-square-foot indoor vertical farm in Calgary’s industrial park in Canada. The farm will help to create more than 70 skilled and unskilled job opportunities in the city as well as act as the center point for partnerships with post-secondary schools in Canada west.

Conclusion

The Global Microgreens Market is forecasted to grow significantly with a CAGR of ~9% during the forecast period primarily driven by Increasing public awareness of health issues and the use of indoor farming techniques. Though the market is highly competitive with ~ 200 participants, few global players control the dominant share and country-niche players hold a significant share. North Americaaccounted for the largest market share among all regions within the total global microgreens market in 2021.

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

Key Topics Covered in the Report

Snapshot of Global Microgreens Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Microgreens Market
Historic Growth of the Overall Global Microgreens Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Microgreens Industry
Overview, Product Offerings, and Strategic Developments of Key Competitors
COVID-19 Impact on the Overall Global Microgreens Market
Future Market Forecast and Growth Rates of the Total Global Microgreens Market and by Segments
Market Size of Farming Method/End-user Segments with Historical CAGR and Future Forecasts
Analysis of the Global Microgreens Market
Major Production/Supply and Consumption/Demand Hubs within Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Key Players Mentioned in the Report

AeroFarms
Good Leaf Farms
Fresh Origins
Gotham Greens
Madar Farms
2BFresh
Farmbox Greens
Living Earth Farm
Metro Microgreens
Chef's Garden

Notable Emerging Companies Mentioned in the Report

FARM2FAM
Leafood
Plenty
UGF Farming
Living Food Company

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

Microgreens Producers
Microgreens Farm Owners
Microgreens Industry Association
Microgreens Marketing & Distribution Companies
Microgreens Products Manufacturers
Government Ministries and Departments of Agriculture
Government Ministries and Departments of Food
Government Ministries of Consumer Affairs, Food, and Public Distribution
Venture Capitalists Targeting the Microgreens Industry
Organic Farming Companies
Organic Farming Cooperative Societies
Farming Research Institutes

Monday, December 5, 2022

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