The Spain Pet Insurance Market is growing owing to the Growing Humanization of Pets and Adoption of Advance Technology: Ken Research

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Focus on Pet Tech and Increasing Companion Animal Population Are Major Factors that contribute towards Development of Pet Insurance Market in Spain.

Growth in Adoption of Pets: The domestication of animals is a widespread practice in Spain, where there are around 13 Mn companion animals registered, of which 93% are dogs, according to data from the Spanish Network for the Identification of Companion Animals (REIAC).

Spaniards prefer pet over child: The birth rate is falling year after year, in 2018 the number of births fell by 6.1%, about 23,879 fewer children, a number that was much higher if we go back to the last five years, reaching 58,293 fewer births, which represents a 13.7% difference. However, year after year, the number of pets is increasing, in fact, in the last five years it has increased by 40% to reach 13 Mn pets, of which just over 12 million are dogs.

Entry of New Players in the Market: The first health insurance policy for dogs was sold in Spain a little over 10 years ago, but it has not been until the last 2 years when insurance companies have realized the boom that this insurance product is experiencing. Companies such as Mapfre, AXA, Santa Lucia or Liberty have specific products to cover veterinary expenses and in 2017, the world leader in health insurance for dogs, Petplan, entered the Spanish market.

Rising Animal Health Concerns: As the pet population is increasing in Spain, the health-related concerns of pets have also started increasing. Nowadays, pets are suffering from lots of diseases like liver disease, arthritis and gall bladder disorder etc. and the costs of vets is very high. For avoiding these types of extra expenditure, pet owners have started to take pet insurance cover which is making pet insurance more popular in Spain. Furthermore, for the prevention of obesity, people are making their animals to participate in sports such as horse racing which also increases the probability of pet injuries and accidents, further boosting the pet insurance market.  By watching this trend, the pet insurance companies have also started covering sophisticated medical care for pets like heart surgery, joint replacement, and chemotherapy which has also become a prominent reason for the staggering growth in the Spain Pet Insurance Market.

Analysts at Ken Research in their latest publication “Spain Pet Insurance Market Outlook to 2027F- Driven by rising pet population, increased 'humanization' of pets and awareness of pet health in Spain” observed that Pet Insurance market is an emerging insurance market in Spain and is at the growth stage after the pandemic. The Spain’s new Animal Protection Law and Growing Humanization of Pets are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 11.6% CAGR during 2022-2027F owing to the Improved Online Presence, Civil Liability and new government policies.

Key Segments Covered in the report:-

Spain Pet Insurance Market

By Policy Type

Pet Liability Insurance

Pet Veterinary Insurance

Others

By Type of Animal

Dog

Cat

Others

By Sales Channel

Direct

Agents

Brokers

Bancassurance

By Veterinary Insurance Coverage Type

Accidental only

General health (accident + illness)

By Insurance Type

House Insurance

Stand-alone Policy

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Key Target Audience

Private Insurance Providers

Public Insurance Providers

Insurance Agency

Bancassurance

Brokers

Related Government Agencies

New Entrants

Time Period Captured in the Report:-

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022-2027F

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Companies Covered:-

Mapfre

SantéVet

Asisa

Caser

Santa Lucía

Pet Plan

Barkibu

Mascota Y Salud

Key Topics Covered in the Report:-

Spain Pet Insurance Market Overview

Business Cycle and Genesis of Spain Pet Insurance Market

Ecosystem and Value Chain of Spain Pet Insurance Market

Spain Pet Insurance Market Size, 2017-2027F

Market Segmentation of Spain Pet Insurance Market

SWOT Analysis and Growth Drivers of Spain Pet Insurance Market

Challenges and Impact of Covid in the Spain Pet Insurance Market

Trends and Developments in Spain Pet Insurance Market

Cross Comparison of Major Players in Spain Pet Insurance Market

Future Outlook of Spain Pet Insurance Market

Analyst Recommendation

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

Spain Pet Insurance Market

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Sweden Pet Insurance Market Outlook 2027F

UK Pet Insurance Market Outlook to 2027F

UAE Diabetes Care Services Market is in a Growing Stage, owing to Rising Privatization of the Health Care Sector and Increasing Cost of Treatment

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1. UAE Diabetes Care Services Market grew at a CAGR of 5.9% in the period 2017-2022P owing to increasing diabetes cases and Government initiatives to improve the economy

The UAE Diabetes Care Services Market has witnessed a steady growth in the recent years as a result of various initiatives like Vision 2030 undertaken by the government. It is to be noted that Diabetes Screening Initiative by the Government in 2021 has addressed the critical areas of diabetes management and has led to an influx of patients in hospitals for health care services.

On the other hand, rising cases of diabetes as a result of unhealthy lifestyle has also exacerbated the situation. As per the estimates, a total of 550,000 patients of type 2 diabetes exist in the country as of 2022P & their number is expected to witness an uptick in the upcoming years which will probably drive the market growth as well. On the other hand, restraints like lack of medical staff, high competition in the market & low medical tourism marketing can hinder the overall progress.

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2. Digital health applications, telehealth services and data monitoring are the major trends prevalent in UAE Diabetes Care Services Market

 

UAE’s health regulators are increasingly considering the adoption of new smart technologies. The country is predicted to add an additional AED 668.4 Bn to its economy by 2035 on the back of accelerated AI adoption Moreover, smart medi tech breakthroughs in the monitoring market will transform life for 1.2 Mn people in the UAE.  Some of the major innovations include insulin delivery systems, glucometers and others. In terms of telehealth services, it will help the patients in emergencies though medications for diabetes treatment such as insulin are taken by many with the help of health care providers.

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3. Lack of specialized clinics or hospitals exclusively for diabetes treatment is a major market opportunity for a new player in the market.

Number of diabetes affected population in UAE is expected to be 1.1 Mn in 2030. This increases the scope for new clinics in the country. New players can start small diabetes clinics with adequate facilities for diabetes screening and treatment, so that high capital investment can be avoided while existing players can expand their business by establishing small clinics in different locations. Players can focus on using injectable for treatment rather than oral medications, owing to increasing price of drugs such as metformin. Moreover clinics should be equipped with telemedicine services, so that it will be more consumer preferable and profitable. Increasing Government support for health care sector in UAE under UAE 2030 Vision will be a major impetus for new players in the market.

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

UAE Diabetes Care Services Market Outlook to 2027F: Ken Research

Increasing number of pet and animal lovers, rise in per capita incomes and new product innovations are expected to drive the growth of Sweden Pet Insurance Market

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1. Rising adoption of pet insurance and high average premiums are leading to the growth of Sweden Pet Insurance Market at a CAGR of 9.2% from 2017-2022P

Pet insurance penetration in Sweden is high compared to other European countries. Compared to 2020, premium income increased in Sweden’s Pet Insurance Market. Owing to the high number of contracts being signed for animals and high average premiums for animal insurance, the Pet Insurance Market In Sweden has shown a CAGR of 9.2% from 2017-2022P. Increasing number of pet and animal lovers, rise in per capita incomes and new product innovations are expected to drive the growth of Sweden Pet Insurance Market.

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2. Consumers prefer buying insurance from Agencies and bancassurance companies in Sweden Pet Insurance Market 

Agencies are the most preferred mode of distribution in Sweden as of 2022. This is because agencies have a direct relationship with animal owners and hence, pre- and post-sale services remain intact. Owing to the low maintenance and distribution costs, banc assurance are the second most preferred mode of distribution. Brokers are one of the most efficient indirect distribution systems. They specifically target middle-class and upper-class animal owners. They enjoy less preference when compared to agencies and banc assurance.

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3. In order to gain competitive advantage in the market, insurance players should focus on targeted marketing strategies right from the point of pet sales

Pet owners are most likely to sign up for insurance when it’s offered as a complement to their pet purchase. Companies should try to offer insurance at the point of sale in order to turn a one-time customer into an ongoing one. Since, the level of awareness about Pet Insurance among pet owners is high in Sweden, players should leverage it at the first step itself. Existing relationships with customers can help companies make the right insurance offer at the right time. They should leverage data collected from purchase records in their marketing strategy. For example- a customer with several pets might be interested in a multi-pet discount offer. Active marketing and a value offer can help nudge customers over the conversion line.  Insurance is complicated, and sometimes consumers miss out on coverages they need because the details are confusing or buried in legalese. Companies should offer detailed explanations of how pet insurance works and what all is included in the policy to their customers in their advertisements. This will ensure transparency which presently is a major concern in Sweden.

Car Leasing and Rental Services Market in KSA is forecasted to grow further into SAR ~26 Bn opportunity by 2027F: Ken Research

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Non-Oil Sector Diversification: Vision 2030 is encouraging new commercial entities to set up in the country which has increased demand for fleet management, leasing and last mile delivery during the recent period. Saudi Arabia's non-oil business activity expanded at the fastest rate in seven years in November 2022, supported by a sharp rise in new orders and continued confidence in the growth outlook.

Expansion of Tourism and Travel Industry: Growing tourism in the kingdom's western region, supported by new hospitality and tourism initiatives like red sea development and the introduction of e-visas for visitors from 49 countries for reasons other than religious and medical tourism. Other driving factors include religious tourists to holy sites like Mecca and Medina, and the growing medical tourism sector - with KSA’s state of art medical facilities attracting more medical tourists every year.

Sluggish Growth in Market: Slow growth in the market during 2016-2017 can be attributed to sluggish economic growth owing to cheap oil which led to fiscal consolidation weakening investor and consumer sentiment. Also, shortage of liquidity and capital crunch forced companies to cut costs, with even leasing companies were reducing their lease price to be competitive and to stay in business.

Severe Competition and Increasing Costs: Emergence of ride-hailing applications and rising popularity of online bookings are leading to further fragmentation in the market which is making competition intense. On the other hand, digitization has increased marketing costs incurred to build and maintain websites and mobile applications.

Analysts at Ken Research in their latest publication “KSA Car Rental and Leasing Market Outlook to 2027F- Driven by Infrastructure Development, Growing Tourism and Diversification of Economy” by Ken Research observed that Car Rental and Leasing market is an emergent automotive market in KSA at a growing stage from the economic crisis after pandemic. The rising government policies and introduction of EVs, growth in travel industry along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 11.7% CAGR during 2022-2027F owing to investment in tourism, infrastructure development and new government policies.

Key Segments Covered in the report:

KSA Car Rental and Leasing Market Segmentation:

• By type of vehicles:
• Small Cars
• Sedans
• SUVs and MUVs
• Pick-up trucks
• Premium and Luxury

• By Region:
• Central Region
• Western Region
• Eastern Region
• Others (Northern and Southern)

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• By End-User:
• Private
• Commercial
• Government & Semi Government Contracts

KSA Car Leasing Market Segmentation:

• By type of leaser:
• Car Leasing Companies
• Car Dealers

• By Organization:
• Organized
• Unorganized

• By type of vehicles:
• Small Cars
• Sedans
• SUVs and MUVs
• Pick-up trucks
• Premium and Luxury
• By Duration for Fleets Leased:
• 1 years
• 2 years
• 3 years
• 4 years and more
• By Region:
• Central Region
• Western Region
• Eastern Region
• Others (Northern and Southern)

• By End-User:
• Private
• Commercial
• Government & Semi Government Contracts

• By Commercial:
• Logistics Companies
• FMCG and E-commerce
• Oil, Gas & Refineries
• Construction
• Others- Remaining Industries

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KSA Car Rental Market Segmentation:

• By Organization:
• Organized
• Unorganized

• By Pickup Point:
• Off-airport
• On-airport

• By type of vehicles:
• Small Cars
• Sedans
• SUVs and MUVs
• Pick-up trucks
• Premium and Luxury

• By Region:
• Central Region
• Western Region
• Eastern Region
• Others (Northern and Southern)

• By End-User:
• Private
• Commercial
• Government & Semi Government Contracts

Key Target Audience:

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

Time Period Captured in the Report:

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

Companies Covered:

• Budget Rent a Car
• Theeb
• Key Car Rental
• Hanco
• Avis
• Al jazira/ Auto World
• AL Jabr
• Best Rent a car
• Samara/SIXT

Key Topics Covered in the Report:

• KSA Automotive Market Overview
• Ecosystem and Business Cycle of KSA Car Leasing and Rental Market
• Timeline of players and Value Chain Analysis of KSA Car Leasing and Rental Market
• KSA Car Leasing and Rental Market Segmentation
• KSA Car Leasing Market Size and Segmentation
• KSA Car Rental Market Size and Segmentation
• Porter’s Five Forces Analysis of KSA Car Leasing and Rental Market
• Growth Drivers, Trends and Issues is KSA Car Leasing and Rental Market
• End User Analysis of KSA Car Leasing and Rental Market
• Competition Framework for KSA Car Leasing and Rental Market
• Future Outlook of KSA Car Rental and Leasing Market
• Case Study of Chinese Rental Market
• Analyst Recommendations and Interview with Industry Expert

For more information on the research reports, refer to below link:-

KSA Car Rental and Leasing Market Outlook to 2027F: Ken Research

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Saudi Arabia Car Rental and Leasing Market Outlook to 2023- By Business Model (Car Leasing and Car Rental), By Fleet Type (Small Category, Medium Category, SUV, Premium/Luxury) and By End Users (Logistics, FMCG, Oil & Gas, Construction, Government and Others)

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Total Tourism Revenues in 2022 amounted to BHD 1.2 Bn exceeding the objective set out in the new tourism strategy for the Kingdom of Bahrain 2022-2027F leading to increase in Bahrain Car Rental Market: Ken Research

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Focus on Embracing Digitization, Growing Tourism, New Government Initiatives and Entry of Online portals in the market are major factors contributing towards development of Car Rental Market in Bahrain.

• Bahrain and Saudi Arabia are committed to enhancing joint cooperation in developing infrastructure, road services, and city and region planning, by benefiting from experiences and exchanging engineering expertise.
• Self-drive, a UAE-based online car rental firm, has revealed its plan to expand its geographical footprint by launching in Qatar and Bahrain, following the app’s growing popularity and success that will now cater to the needs of individual customers, business executives, visitors and corporates.

Cybersecurity pillar for Bahrain progress: Bahrain’s keenness to develop the ICT infrastructure and adopt many initiatives and projects to improve the readiness and security of information, in a way that enhances its advanced world-standard digital infrastructure and contributes to protecting its cybersecurity. The Kingdom is one of the leading countries in the region in the field of cybersecurity. It has launched the necessary initiatives and set up the basic rules of cybersecurity to put in place a robust and sustainable electronic environment, capable of confronting the increasing cyber challenges.

Bahrain committed to resolving air pollution and improving traffic flow: The new infrastructure plans will work to improve air quality and reduce traffic in the Kingdom. According to a study conducted by Pub Med Central, Bahrain has a high annual concentration of PM 2.5, and now citizens are starting to become aware to the health risks associated with air quality. According to UN Environment, reducing emissions from transport is a critical factor in decreasing air pollution in the Kingdom of Bahrain. Transport in Bahrain relies heavily on roads, with private cars being the most dominant mode of transportation.

New Government Initiatives and Big boost for Bahrain: The Bahrain Tourism and Exhibitions Authority (BTEA) has announced the launch of special travel packages to welcome GCC tourists, in collaboration with tourism partners. BTEA Chief Executive Officer said that the launch of the packages coincides with the Bahrain Festive Season this December, during which BTEA has prepared a program filled with festivals and events. The tourism packages will grant GCC nationals and residents the opportunity to visit Bahrain with special rates for hotel reservations, access to sightseeing activities tailored to their budget, and entry to various events.

Analysts at Ken Research in their latest publication “Bahrain Car Rental Market Outlook to 2027F- Driven by Type of Market Structure (Organized and Unorganized), by Type of Car (Sedan, Hatchback, SUV, Van, Crossover, Others), By Booking Type (Online booking, Offline booking), By End User Type (Self-driven, Chauffeur) and By Vehicle Type (Economy cars, Luxury cars)” by Ken Research observed that Car rental market is an emerging automotive market in Bahrain at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for car rental industry, with rising tourism in Bahrain is expected to contribute to the market growth over the forecast period. The market is expected to grow at ~% CAGR during 2022-2027F owing to the factors mentioned above.

Key Segments Covered in the report:-

Bahrain Car Rental Market

By Type of Market Structure  

Organized Channel

Unorganized Channel

By Type Of Car

Sedan

Hatchback

SUV

Van

Crossover

Others

By Booking type

Online booking

Offline booking

By End User Type

Self-driven

Chauffeur

By Vehicle Type

Economy cars

Luxury cars

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Key Target Audience

Car Rental Dealers

Car Rental Equipment Manufacturers and Distributors

Auto Portals

Online Dealers

Car Booking offices

Unauthorized Dealers

Market Research and Consulting Firms

Automotive Companies

Car Renting Companies

Tourism Agencies

Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

Historical Period: 2017-2022P

Base Period: 2022P

Forecast Period: 2022P-2027F

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Companies Covered:-

Leading companies

Montreal Motors Co.

SPC

National Car Rental Bahrain

Kanoo Daily Rental

Hanco

Avis Corporation Regency

Rent- A- Car

Fast Rent A Car

City Car

Budget Bahrain

Sixt SE

Al Sayer

Europcar

Key Topics Covered in the Report:-

Executive Summary

Overview for Vehicle Renting Industry in Bahrain

Ecosystem for Bahrain Vehicle Renting Market

Value Chain Analysis for Bahrain Vehicle Renting Market

Market Size of Bahrain Vehicle Renting Industry

Market size for Bahrain Vehicle Renting Industry on the basis of Value and Number of Fleet, 2017-2022

Bahrain Vehicle Renting Industry Segmentation, 2022

Porter’s Five Forces Analysis of Bahrain Vehicle Renting Market

Growth Enablers in Bahrain Vehicle Renting Market

Trends and Developments in Bahrain Vehicle Renting Market

Issues and Challenges in Bahrain Vehicle Renting Market

Government Regulations and Initiatives

End-User Analysis in Bahrain Vehicle Renting Industry, 2022

Cross Comparison between different End Users

Competitive Landscape in Bahrain Vehicle Renting Industry

Marketing Strategies by some Vehicle Renting Companies

Future Outlook and Projections of the Bahrain Vehicle Renting Industry, 2022-2027F

Analyst Recommendations

Industry Speaks

Research Methodology

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

Bahrain Car Rental Market

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Netherlands Car Rental market Outlook to 2027F

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Germany Online Advertising Market Outlook To 2027: Ken Research

                                                                                                                                                 Buy Now

Focus on Embracing Digitization, New Government Policies and Entry of Online portals in the market are major factors contributing towards development of Online Advertising Market in Germany.

New Age Marketing Medium: Digital advertising and mobile marketing are the new age marketing techniques that would drive businesses and integrate them into the Industrial Revolution 4.0. With a large number of SMEs shifting to online sales, increasing smartphone users, and a lack of on-ground events or exhibitions in the near future would provide the necessary advertising channels and prove to deliver a positive impact on the Online Advertising Market in due course of time. 

Increase in Smartphone Penetration: The gradual increase in smartphone penetration in the Germany is likely to drive market growth. The Germany had one of the highest smartphone penetration rates in the world as of 2021, with 80.5% percent of the population using a smartphone. The smartphone business has undergone a complete transformation to meet future customers' needs due to increased social media usage, OTT (Over the Top) consumption on the go, work and school from home, and the influence of content providers. The Germany Smartphone market is mainly driven by increased internet use, usage, and product innovation.

Support by Multinational Technology Companies: Google is highly focused on launching new features and aimed at helping advertisers to use the company's services to make their products stand out in web search results and on other platforms. The Platforms allows to create online ads to reach to correct target audiences and offer various payment models such as pay-per-click (PPC) advertising. Thus, this is expected to encourage companies to invest in ads, propelling the market growth, especially in Germany.

Impact of COVID: Germany’s digital ad spending had grown at double-digit rates for each of the past few years, but pandemic-disrupted 2020 have slowed down the growth due to decline in ad spending made by Auto companies, and travel companies in Germany. Ad spending made by Retail sector and Healthcare sector is expected to contribute a lot in the coming years in the Online advertisement market in Germany

Analysts at Ken Research in their latest publication “Germany Online Advertising Market Outlook to 2027F” by Ken Research observed that online advertising is an emerging advertising market which has boosted after pandemic. Technological developments regarding the internet, combined with its increasing commercial use and the rapidly growing number of internet users worldwide, have not only shaped the evolution of online advertising and digital advertising but have also given rise to new advertising business models, mediums and players and is expected to contribute to the market growth over the forecast period. The market is expected to grow at ~% CAGR during 2023-2027F.

Key Segments Covered in the report

      Online Advertising Market

• By Type (On the Basis of Ad Expenditure)
• Digital Advertising Market
• Traditional Advertising Market
• By Medium (On the Basis of Ad Expenditure)
• Desktop Advertising
• Mobile Advertising
• By Type of Advertisement (On the Basis of Ad Expenditure)
• Search Advertising
• Social Media Advertising
• Display Advertising
• Video Advertising
• Audio Advertising
• Other Advertising (Native Advertising, Classifieds, Lead Generation, Buzz/Content Advertising, Email Marketing and more)
• By Ad-Format on the Basis of Platforms (On the Basis of Ad Expenditure)
• Social Media Advertising
    Facebook
    Instagram
    Others
• Search  Advertising
    Google
    Yahoo & Bing
    Amazon
    Others
• Video Advertising
    YouTube
    Others
• Further Segmentation by Medium (Desktop and Mobile, On the Basis of Ad Expenditure)
• Social Media Advertising
    Mobile
    Desktop
• Video Advertising
    Mobile
    Desktop
• Search Advertising
    Mobile
    Desktop
• Audio Advertising
    Mobile
    Desktop
• Other Advertising (Native Advertising, Classifieds, Lead Generation, Buzz/Content Advertising, Email Marketing and more)
    Mobile
    Desktop

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• By Sectors (On the Basis of Ad Expenditure)
• Retail
• Automotive
• Financial Services
• Telecommunications
• Leisure Travel
• Consumer Packaged Goods
• Electronics & Computers
• Pharmaceuticals/Healthcare
• Media
• Entertainment
• Others (Real-Estate, Education, Agrochemicals, Energy, Construction and more)
• By Ad-Buyers (On the Basis of Ad Expenditure)
• Direct
• Ad Agencies
  
  By Pricing Model (On the Basis of Ad Expenditure)
• Performance
• Cost Per Mile
• Hybrid

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Key Target Audience

• Advertising Agencies
• Social Networking Platforms
• End User Industries Investing in Digital Advertising
• Regulatory Bodies and Government Agencies
• Investors

Time Period Captured in the Report:

• Historical Period: 2017-2021
• Base Period: 2022
• Forecast Period: 2023-2027F

Companies Covered:

Major Ad Agencies

• TBWA Germany
• DDB Group
• BBDO Group
• Serviceplan Group
• Scholz and Friends Group
• Kolle Rebbe and more

  Major Online Platforms

• Google (including YouTube)
• Facebook (including Instagram)
• Amazon
• Microsoft (including LinkedIn)
• Verizon Media
• Tencent
• Baidu
• ByteDance

Key Topics Covered in the Report

• Germany Online Advertising Market Introduction (Historical Evolution, Overview, Genesis, Business Cycle)
• Germany Online Advertising Market Size,
• Germany Online Advertising Market Segmentation
• SWOT Analysis of Germany Online Advertising Market
• Growth Drivers, Trends and Developments in Germany Online Advertising Market
• Issues and Challenges in Germany Online Advertising Market
• Regulatory Framework in Germany Online Advertising Market
• Customer Profiling in Germany Online Advertising Market
• Case Studies Covered in Germany Online Advertising Market
• Competitive Landscape in Germany Online Advertising Market
• Germany Online Advertising Market Future Outlook and Projections,
• Analyst Recommendations

For more information on the research reports, refer to below link:

France Online Advertisement Market Outlook 2027F: Ken Research

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Taiwan Online Advertisement Outlook To 2023

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USA Drone Market is in Growing Stage, Being Driven by Advance technology, unmanned aerial transport, intelligent mapping and low power consumption: Ken Research

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1.  USA Drone Market has increased in 2022 at a CAGR of 13.17% owing to the increase in the adoption of drones, especially by commercial businesses in USA

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The potential for the use of drones is really high. Drones are very versatile and can be used easily within many industries. Just like robots, they can replace basic jobs which require humans. Major industries such as Agriculture, Construction and law enforcement will benefit from the use of drones. Logistics will lead the way for drones in future as a significant chunk of logistic/e-commerce companies will implement drones for last-mile deliveries as they can reduce logistics costs significantly.

2. Increasing Customer Reach will ensure business sustainability as USA Drone Market is currently in a growing phase

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Military drones dominated the drone market since they were not available to the common masses. The market was in a nascent stage around this time and saw the emergence of new technologies. Prices of drone hardware, software, and services continue to fall as drone companies compete for market share through penetration pricing. Rapid Industrialization and digitization in online business channels are expected to propel the drone market growth.

3. Domestic and International players coexist on the supply side of the USA Drone Market, which is majorly consolidated

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Textron Inc. leverages its global network of aircraft, defence, industrial and finance businesses to provide customers with innovative solutions and services. The parent company of many brands including Bell and Cessna. General Atomics Aeronautical Systems, Inc. (GA-ASI), founded in 1955 is a leading manufacturer of Remotely Piloted Aircraft (RPA) systems, radars, and electro-optic and related mission systems solutions AeroVironment, Inc. is an American defence contractor that designs and manufactures unmanned aerial vehicles. Dr Paul B. MacCready Jr., a designer of human-powered aircraft, founded the company in 1971.

The market is majorly consolidated where domestic and international players coexist on the supply side. The drone market is quickly developing, with industry leaders such as DJI and Parrot seeking autonomy in all drone capabilities and operations.

Malaysia Used Smartphone Market is expected to grow at a CAGR of 14.9% between of 2022F-2026F: Ken Research

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1.  4% of the population uses smartphones in 2021, and people belonging to the age group of 20-34 years constitute the highest number of smartphone users.

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Affordable devices and packages, subsidies, aggressive competition, and promotions among service providers were observed to be the driving factors for this growth. Growing use and reliance on smartphone-based applications may also contribute to the increase. On the other hand, feature phone users were on a declining trend which stood at only 7.5% in 2021. The usage of smartphones among all age groups reached more than 80% in 2021. It was observed that smartphone usage is the highest amongst the respondents under the age of 35, and the trend is declining in the older age groups. On the other hand, feature phones are mostly used by individuals aged 65 years old and above.

2. Malaysia Used Smartphone Market has grown in the last five years.

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Affordable devices and packages, subsidies, aggressive competition, and promotions among service providers were observed to be the driving factors for this growth. Growing use and reliance on smartphone-based applications may also contribute to the increase. On the other hand, feature phone users were on a declining trend which stood at only 7.5% in 2021. The usage of smartphones among all age groups reached more than 80% in 2021. It was observed that smartphone usage is the highest amongst the respondents under the age of 35, and the trend is declining in the older age groups. On the other hand, feature phones are mostly used by individuals aged 65 years old and above.

3. Offline dealers dominate Malaysia Used Smartphone Market

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Offline dealers of the used smartphone market have a 50.0% share of the market as people prefer being able to check and verify the condition of the used smartphone before buying it. Classified Sellers of Used Smartphones like COMPASIA, Lazada, Shopee, etc., constitute the second largest market share. In 2021, offline marketplaces dominate the market. Marketing through online marketplaces is popular among all types of online and classified businesses. Companies that have a strong presence offline, carry out their marketing through social media platforms or their own websites.

Philippines logistics Market is forecasted to grow to PHP ~1160 Bn market by 2027F: Ken Research

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1.  Philippine Logistics Industry grew in 2022P owing to the surge in demand from e-commerce and increased investment in infrastructure by the government.

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The logistics sector in the Philippines is expanding rapidly (CAGR - 6.3%), owing primarily to the growth of the e-commerce sector and the increased use of cutting-edge technology such as supply chain automation and digital platforms to improve efficiency. Another growth driver that is driving the logistics market in the country is increased infrastructure investment in projects following Covid-19 to improve the transportation and logistics sectors in general. Major industries contributing to the revenue of the logistics market in the Philippines include F&B, Manufacturing, Electronics, Automotive, Pharma, and more.

2. The Logistics Industry in the Philippines is expected to witness a Rise in International Trade, Improvement in Infrastructure, and Growth in Automation in the next few years.

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Major infrastructural development plans are taken up by the Government of the Philippines like 'Build Build Build" which is to drive the infrastructural development in the country. In addition to this, the cold storage industry is experiencing a new wave of technological developments that are critical for end users of cold storage services as well as the organic growth of cold storage companies. The warehousing industry will see an increase in the use of technology and automation as major players adopt robotics technology. Moreover, contract logistics and express providers will benefit from rapidly modernizing retail and a growing automotive sector.

3. Covid had an impact on the Philippines' logistics market in a variety of sectors, including transportation and the CEP market.

Supply chains were severely impacted during Covid-19 all around the world. The Philippines also suffered from the scarcity of raw materials, factories closed, and disruption in the supply chain due to cross-border restrictions. With this, the transportation industry in the country also suffered during covid crisis. For instance, there was a huge drop in the revenue generated by cold transportation market. The cold transportation market fell in 2020. But even after all this the E-commerce industry in the country experienced positive growth during Covid. It was a major contributor to the GDP during the period.

4. Inefficient custom clearance process, high dependence on human resources, and traffic congestion in major regions such as Metro Manila are some of the major challenges faced by the logistics industry.

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Customs clearance has been a major barrier and source of pain for importers in the Philippines. It can take up to 20 days to complete the entire process. Moreover, the reliance on human resources increases the possibility of errors, resulting in dissatisfied customers. Furthermore, traffic congestion in areas such as Metro Manila is a major cause of delays in goods delivery, and the islands that are further away from economic centers have poor connectivity and high logistics costs.

Bahrain Remittance market is expected to grow at a CAGR of ~% owning to rising internal migration, increasing investments and adoption of digital technologies: Ken Research

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Bahrain Remittance Market Ecosystem

Bahrain Remittance Market is in the growing stage, consisting of ~ players (banks and digital payment companies) with just few companies acquitting the major portion of the market. Bahrain international remittance market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the Bahrain Remittance market are Western Union, MoneyGram, Al Barka Bank etc.

Key Market Findings:

• The Bahrain market is moderately consolidated with the majority of the market being captured by MTOs (Money Transfer Operators) & Banks in 2018.
• In terms of volume of transactions, the inbound remittance is expected to register a CAGR close to ~%.
• The three largest immigrant groups in Bahrain were from: India (Bahrain has the 5th highest number of Indian women migrant domestic workers of any country in the world); Bangladesh and Egypt. The rest of the migrants came from other Arab countries (including Jordan, Yemen, and Syria), other Asian countries (including Pakistan, Philippines, Nepal, and Thailand), Africa, Europe, and other regions.

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Rising Internal Migration: Bahrain, in general, offers good living and working conditions to its expatriate communities. With the recent economic reforms, the inflow of international as well as domestic workers migration has increased. The country is also increasing digitization and adopting e-wallets. Thus, increasing internal migration in the country.

Increasing Investments: Major sectors Finance & Banking, Oil, and Military contributed most to Bahrain’s growth opportunities. The country is also being promoted as the Silicon Valley of the Middle East, with the government offering great incentives and a supportive environment for fintech and e-commerce start-ups and other private investments. All this is being done to create exciting opportunities for a skilled workforce as well as high-profile expats looking for career growth. In addition, the Government of Bahrain also encourages the employment of female workers as well as it is a safe country, adding to the pool of available talent. Bahrain also allows expatriates to own residential properties here unlike other Gulf countries, which makes it an important investment destination for expats. In fact, investment here is not just confined to real estate alone, but also sectors like food, entertainment, health, information and communication, manufacturing, and mining as well.

Adoption of Digital Technologies: Government has ambitious plans to use digital technologies extensively to strengthen its services, processes, and decision making, as well as its ability to share data with constituents. There is specific emphasis on improving the individual organizational capabilities of Government entities by aligning their digital strategies with the national Digital Government Strategy 2020, strengthening the governance mechanisms, enabling a digital workforce, reinforcing agile development and analytical platforms while deploying robust cyber security measures and controls which will led to increase employment in the digital sector, thus fueling the inflow of workers in the country.

Analysts at Ken Research in their latest publication “Bahrain Remittance Market Outlook to 2027F - By International (Inbound & Outbound Remittance), By Banking and Non-Banking Channel, By Inflow & Outflow Remittance Corridors, by Domestic remittance flow corridor” provides a comprehensive analysis of Bahrain’s Remittance Market including market evolution, overview, genesis, market size and market segmentation. The Bahrain remittance market is in a growing phase having a CAGR of ~% from 2017-2021. The increasing inflow of expatriates, digitization, e-wallets, increasing internal migration and major government investments has led to rise in the growth of Bahrain's remittance market. It is expected that the Bahrain remittance market will grow at a CAGR of ~% in the forecasted period 2022-2027F.

Key Segments Covered in the report: -

Bahrain Remittance Market

By International Inbound Remittance Flow Corridor

On the Basis of Channels (Volume of Transactions)

• Banking channels
• MTOs
• M-Wallets
• Others

On the Basis of Inflow Countries (By Value of Transactions)

• India
• Pakistan
• Bangladesh
• Sri Lanka
• Egypt
• Indonesia

By International Outbound Remittance Flow Corridor

On the Basis of Channels (Volume of Transactions)

• Banking channels
• MTOs
• M-Wallets
• Others

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On the Basis of Outflow Countries (By Value of Transactions)

• India
• Pakistan
• Bangladesh
• Sri Lanka
• Egypt
• Indonesia

By Point of Contact (By Volume)

• Branch Pick-up
• Mobile Payment & Online Transactions
• Prepaid Cards

By Domestic Remittance Flow Corridor (Value of Transactions)

• Urban to Rural
• Urban to Urban
• Rural to Urban

By Channels used (Value of Transactions)

• Banking Channel
• ADLAs & MTOs
• Retailers
• Others

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Key Target Audience

• Banks
• Money Transfer Operators
• M-Wallet Companies
• Hawalas
• Convenience and Retail Stores
• Supermarket Chains
• Bills and Payments Companies
• Investors & Venture Capital Firms
• Government Bodies

Time Period Captured in the Report:

• Historical Period: 2017-2021
• Base Period: 2022P
• Forecast Period: 2022P-2027F

Companies Covered:

• Western Union
• RIA Money Transfer
• MoneyGram

• Al Bakra Bank Group.
• Gulf International Bank.
• Bank of Bahrain and Kuwait.

Key Topics Covered in the Report

Market Ecosystem and Value Chain
Market Size on the Basis of Transaction Value, 2013–2018
Market Size on the Basis of Transaction Volume, 2013-2018
Market Size on the Basis of Average Transaction Size, 2013-2018
Market Trends, Growth Drivers & Challenges
Market Segmentation by Channels Used (Value of Transactions)
Market Segmentation by Corridors (Value of Transactions)
Market Segmentation by Inflow and outflow of countries (Value of Transactions)
Government Regulations
Migration Scenario
Strengths and Weaknesses of Major Players
Company Profiling
Snapshot on Bill Payment Market
Future Outlook and Projections
Growth Opportunities
Future Market Segmentation
SWOT Analysis
Analyst Recommendations

For More Information On The Research Reports, Refer To Below Link: -

Future Outlook of Bahrain Remittance Market

Related Reports by Ken Research: -

Egypt Remittance Market Outlook to 2023

Kuwait Remittance Market Outlook To 2022