Promising Solutions Emerge for Vietnam's Exporters Amidst Rising Demand and Limited Cold Storage Space: Ken Research

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Storyline

• Cold storage demand surges as lack of space leads to rising costs.
• Vietnam's cold storage development lags behind agricultural export growth.
• Seafood industry remains the largest user of cold storage facilities.
• As per Ken Research, Flexible solutions like Arctic Super Stores offer hassle-free cold storage options.

The pandemic has disrupted Vietnam's cold chains, presenting hurdles for exporters. Rising demand for cold storage, limited space, and escalating rental costs require adaptable solutions. This article examines challenges faced by exporters, especially in the seafood industry, and explores the increasing need for cold storage. It also discusses Arctic Super Stores as a flexible solution to address evolving market demands.

1. Rising Costs and Space Constraints

Emergent Cold Vietnam Cold Chain Market

As Vietnamese fruits get ready to head for the harvest season, exporters in Vietnam struggle with a scarcity of cold storage facilities in Ho Chi Minh City and neighboring provinces. The limited availability of space has led to a dramatic surge in rental prices, putting a strain on export businesses. This shortage of cold storage capacity has become a significant hurdle to overcome. The story continues every year.

2. Asynchronous Cold Storage Development

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Vietnam's cold storage infrastructure has not kept pace with the growth of agricultural exports, which continue to witness a surge increase annually. Although the country's agricultural product exports reached approximately $41.2 billion in 2020, most of these were raw and fresh items. The low application of cold storage systems for products beyond seafood reveals a disparity in meeting the demand across different agricultural sectors.

3. Seafood Industry Dominates Cold Storage Usage

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The seafood industry heavily relies on cold preservation systems, with a significant portion of cold storage dedicated to seafood products. In contrast, other agricultural sectors have limited adoption of cold chains. A survey conducted by CEL Consulting found that only 8.2% of producers serving the domestic market had proper cold chain systems, significantly lower than the two-thirds of exporters. The existing cold storage facilities in Vietnam are unable to meet the demand, further highlighting the need for expanded infrastructure.

The Conclusion

The increasing demand for cold storage in Vietnam, particularly in light of rising costs and space constraints, poses significant challenges for exporters across various agricultural sectors. While the seafood industry remains the largest user of cold storage facilities, other sectors struggle to meet their storage requirements.

However, flexible solutions like Arctic Super Stores offer a practical and adaptable approach, allowing businesses to securely store their goods and navigate the changing market dynamics. As per Ken Research, With the ability to expand and move with businesses, these innovative cold storage solutions provide a viable option for businesses seeking reliable and hassle-free storage solutions in Vietnam's evolving market.

KSA Macroeconomic Assessment of Population Disparities in Various Regions of the Country : Ken Research

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Story Outline

• Saudi Arabia's population is concentrated in urban areas like Riyadh, Jeddah, Mecca, and Medina, leading to regional disparities.
• Urban areas drive GDP growth and offer job opportunities, while less populated regions face economic challenges.
• GDP per capita, employment rates, and economic sectors vary significantly across regions.
• Vision 2030, The ambitious program aims to address regional disparities through diversification and infrastructure development, promoting equitable growth.

Saudi Arabia is a nation of grand contrasts. It is famous for its abundant oil reserves, rich cultural heritage, and vast arid landscapes. However, it also stands out in terms of demographic disparities across its diverse regions.

A macroeconomic analysis of these regional population variances reveals some fascinating insights into Saudi Arabia's economic development.

1. An Overview of KSA's Population Distribution

Population density of other KSA Provinces

Saudi Arabia, spread over about 2,149,690 square kilometers, has a population exceeding 35 million in 2023.

The vast majority of the population resides in a few urban areas. The cities of Riyadh, Jeddah, Mecca, and Medina are the most populous, hosting approximately 60% of the total population.

However, beyond these urban centers, population density drops significantly. The less populated regions, such as the Northern Borders, Al Jawf, and Najran, each house less than 2% of the national population.

This stark demographic disparity results from historical, geographical, and economic factors, including the centrality of the Hejaz region in Islamic history, the presence of oil reserves, and Riyadh's development as the political capital.

2. The Economic Implication of Population Disparity

Other Major tourists Cities in KSA

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The uneven population distribution has profound macroeconomic implications for Saudi Arabia. The high concentration of population in a few urban areas leads to an excessive strain on infrastructure, housing, and public services in these cities, while underutilization occurs in less populated regions.

Riyadh and the Hejaz region, housing major cities like Jeddah, Mecca, and Medina, are the main economic engines of the country, contributing significantly to GDP. They harbor key sectors including oil and gas, real estate, finance, and the Hajj and Umrah pilgrimages, generating the majority of national income and job opportunities.

In contrast, the sparsely populated Northern Borders region and Al Jawf are predominantly agrarian with lower levels of economic activity. Here, the limitations of water and arable land resources, as well as the scarcity of major urban centers, have hindered robust economic growth.

Despite these challenges, these regions contribute to Saudi Arabia's macroeconomy by providing agricultural products, including dates and wheat.

3. Understanding Regional Disparities through Economic Indicators

To further understand the economic disparities between regions, we can analyze key economic indicators like GDP per capita, employment rate, and the sectorial contribution to GDP.

For instance, GDP per capita significantly varies across regions, with urban areas like Riyadh and Eastern Province, with its oil-rich cities like Dhahran and Dammam, having a higher GDP per capita compared to less populated regions.

Similarly, employment rates and average incomes differ notably across the regions. Urban areas, with diverse economies and high concentration of industries, provide more job opportunities and attract more skilled labor compared to agrarian regions, which are usually associated with lower wages and higher unemployment rates.

Also, while the service sector heavily dominates urban regions' economies, primary sectors like agriculture and mining are more relevant in rural and sparsely populated areas.

4. The Vision 2030

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To address these regional disparities, the Saudi government initiated the ambitious Vision 2030 program aimed at diversifying the economy away from oil dependency and creating more equitable regional development.

Projects like NEOM, a $500 billion megacity to be built in the Northern region, are steps towards developing infrastructure and creating jobs in the less populated areas. In addition, the expansion of tourism, notably eco-tourism and archaeological tourism, are planned to leverage unique regional attributes and diversify local economies.

Conclusion

In conclusion, a macroeconomic analysis of Saudi Arabia's population reveals a rich mixture of regional variances, underlining the importance of localized strategies in national development planning. The nation's Vision 2030 provides a promising roadmap towards this aim.

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

KSA Macroeconomic Assessment

Timekeeping Titans: The Battle of Fossil vs Citizen in the World of Watches: Ken Research

 Global Fashion Designer and Manufacturer: Fossil and Citizen Watch Co Ltd Offer Diverse Product Portfolios and Brands in the Fashion and Electronics Industry

Storyline

• Market Overview: Fossil vs Citizen
• Product Range: Fossil's Fashion and Smartwatches vs Citizen's Analog and Eco-Drive Watches
• Technological Innovation: Fossil's Smartwatch Integration vs Citizen's Eco-Drive Technology
• Brand Comparison: Contrasting Fossil and Citizen in the Watch Market

Introduction

Fossil is a global fashion designer and manufacturer known for its diverse product portfolio. Their brands include Fossil, Relic, BMW, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. They offer fashion watches, jewellery, handbags, accessories, and more, sold through their own stores and specialty retailers.

Citizen Watch Co Ltd is an electronic product and watch manufacturer. They produce clocks, printers, calculators, and a range of watches under brands like Eco-Drive One, Campanola, Citizen, and Promaster. They also manufacture machine tools, components like quartz crystals and LEDs, as well as healthcare products and jewellery.

Here is a comparison of these two top notch brands –

Market Overview

Click to Read Full Article: Global Watch Market

Fossil has a diversified product portfolio, including fashion watches, jewellery, handbags, small leather goods, belts, sunglasses, shoes, and soft accessories.

Fossil manufactures and distributes private label brands and branded products purchased for resale in some non-Fossil branded retail stores. It has around 59 offices worldwide, more than 500 company-owned global stores, and business operations in 150 countries.

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Citizen Watch Co Ltd (Citizen) is an electronic product and watch manufacturer. The company offers clocks, printers, calculators, healthcare equipment, analog watches, Quartz oscillators, CNC automatic lathes, low-frequency vibration cutting equipment, Opto-device, switches, and automobile-related products.

Citizen Watch Co. Ltd operates in more than 140 countries spread across Asia, the Americas and Europe. In Europe, the company sold watches under Bulova, Citizen, and Quest & Quality brands.

Product Range:

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Fossil: Fossil offers a diverse collection of watches, including analog, digital, smartwatches, and hybrid watches. Its brands include Fossil, Relic, BMW, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. They cater to various style preferences, with options ranging from classic and minimalist designs to bold and trendy timepieces. Fossil also collaborates with fashion designers and celebrities to create limited-edition watches. Traditional watches and smartwatches are the company’s core global business. Sales of watches for fiscal years 2021, 2020, and 2019 accounted for approximately 80.9%, 81.0% and 81.4%, respectively, of the company’s consolidated net sales.

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Citizen: Citizen offers a wide array of watches, including analog, digital, and Eco-Drive watches. Citizen markets its products under Eco-Drive One, Campanola, Citizen, and Promaster brand names.  They are known for their precision and innovative features such as atomic timekeeping, chronograph functions, and multi-timezone displays. Citizen also provides specialized watches for specific activities like diving or aviation. The company launched three new models, namely AR5030-59L, AR5034-58E, and AR5034-58A, in its Eco-drive One collection. The models were priced at USD 4,500, and they include Cal.8826 Eco drive movement.

Technological Innovation:

Fossil: Fossil has embraced the smartwatch trend and offers a range of smartwatches powered by Wear OS by Google. Their smartwatches provide features like fitness tracking, notifications, music control, and customizable watch faces. Fossil focuses on integrating technology seamlessly into their stylish designs.

Citizen: Citizen has a strong emphasis on technological advancements, particularly with their Eco-Drive watches. Eco-Drive technology harnesses light, whether natural or artificial, to power the watches, eliminating the need for battery replacements. Citizen continuously innovates to improve the efficiency and functionality of their watches.

According to Ken Research: Both Fossil and Citizen are prominent players in the watch industry, catering to different consumer preferences. Fossil's diverse product portfolio and fashion-forward approach appeal to those seeking stylish and trendy watches, including smartwatches. On the other hand, Citizen's focus on precision, innovative features, and their Eco-Drive technology sets them apart as a brand known for reliability and sustainability. With their unique strengths and offerings, Fossil and Citizen continue to captivate watch enthusiasts around the world.

Supply Chain Blues & Soaring Logistics Costs: Can Indonesia Logistics Market thrive against the odds? : Ken Research

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The Indonesian freight and logistics market, like many others, faced formidable challenges during the COVID-19 crisis. While the pandemic's impact recedes, the industry now confronts persistent pain points hindering its growth. Weak transportation infrastructure, supply chain dysfunctionalities, and high logistics costs stand as major barriers in the path of progress. As the lockdown measures are lifted, the question arises: can Indonesia's logistics market navigate through these obstacles and pave the way for a flourishing future? If yes, how? Let’s find out!

1. The Indonesian freight and logistics market was severely affected by the COVID-19 crisis but since the lockdown has been lifted, the industry is positioning itself for recovery 

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2. However, Weak Transportation Infrastructure, Supply Chain dysfunctionalities, and High Logistics costs among others are the major barriers to the growth of the Logistics Market in Indonesia

3. But the good part is, the government of Indonesia is aiming to establish it as a Logistics Hub by developing SEZs, Logistics Corridor Development Strategy, and National Transport Master Plan

4. As a result, the logistics sector in the country is under transformation particularly due to rising e-commerce sales, improving trade relations between the ASEAN countries, & government spending

5. Presently, the logistics industry is in its growth stage and is projected to expand in the future owing to increasing government investment to improve the nation's infrastructure and… 

5.1. …surge in e-commerce especially post-pandemic which is creating a demand for the delivery of products, directly propelling the growth of logistic services in Indonesia

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

• KSA Warehousing Automation Market Outlook to 2027 Driven by Bolstering Ecommerce Industry & Ambitious Government Plans for Digitalization to Pave Strong Grounds for Automation
• South Korea Warehouse Automation Market Outlook to 2027 Driven By increasing demand from end-user industries and factors such as increasing labor cost and labor shortage in the country
• Saudi Arabia Warehousing Market Outlook to 2027 Driven by Government Support, demand for E-Commerce and Infrastructure Investment in the country
• UAE Logistics Market Outlook to 2026 Driven by rapidly growing E-Commerce industry, various infrastructure development initiatives, & its strategic location.
• Global Industrial Packaging Market Outlook to 2027 Segmented by product type (Drums, IBCs, Sacks, Crates, Pails, Corrugated boxes, Others), kind of material (Plastic, Wood, Metal, Paperboard, Others), End User (Food & beverage, Automotive, Pharmaceutical, Chemical, Oil & Lubricant, Building & Construction, Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa, South America)

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Indonesia Logistics Market

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

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

                                                                       Storyline

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

 The Overview

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

1. What’s up with the current trends?

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

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

2. North America seems to be taking the lead.

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

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

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

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

Industrial Robotics Market Report

US Identity Verification Market Outlook to 2028: Ken Research

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What is the Market Size of US Identity verification Industry?

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

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

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

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

US Identity Verification Market segmentation By type of deployment

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

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

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

US Identity verification Market By Type of end-user industry

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

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

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

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

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 US Identity verification Market By Region split

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

Competition Scenario in US Identity Verification Market

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

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

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

The US Identity Verification Market was valued at USD billion in 2022 and is anticipated to reach USD billion by the end of 2028, witnessing a CAGR of % during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current Market conditions. This scenario assumes that there will be no overall impact on the Market due to any potential COVID-19 waves in the future.

The US Identity Verification Market is growing due to digitalization, a growing rate of theft and money lost, e-commerce, financial inclusion, cybercrimes, money laundering and strengthened ties with emerging economies.

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

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

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

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

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

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Market Taxomony

By Deployment Type

• On-Premise
• On-Demand

By End-User Industry

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

By Regional Shift

• North
• South
• East
• West

Major Identity Verification Market Players

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

Research Sources

Secondary Research

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

Time Period Captured

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

Key Factors Covered in the Report

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

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

US Identity Verification Market Outlook to 2028

Related Report by Ken Research:-

Australia Cyber Security Market Outlook to 2027F

China Cyber Security Market Outlook to 2027F

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

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

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

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

Global Battery Powered Bike Market

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

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

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

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

3. What about Regional Outlook?

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

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

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

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

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

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

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

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

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

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

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

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

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

Malaysia Automotive Lubricants Market

Future Outlook to Nigeria Mattress Market 2028: Ken Research

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What is the Size of Nigeria Mattress Market?

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

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

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

Nigeria Mattress Market by end user

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

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

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

Nigeria Mattress Market by type of mattresses

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

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

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

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Nigeria Mattress Market by Region

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

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

Competition Scenario in Nigeria Mattress Market

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

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

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

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

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

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

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

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

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

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

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

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

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

Market Taxomony

By Type of Mattress

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

By Size

• King
• Super King
• Queen
• Twin

By Business Model

• Lease
• Outright Sale

By Distribution Channel

• Retail
• Direct

By End User

• Commercial
• Hospitals
• Residential

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Major Players across the Nigeria Covered in the Report

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

Research Sources

Secondary Research

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

Time Period Captured

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

Key Factors Considered in the Report

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

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

Nigeria Mattress Market Outlook to 2028F

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

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

STORY OUTLINE

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

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

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

Discover Number of Walk ins in UAE

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

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

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

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

Explore Trends in the UAE Indoor Theme Parks Market

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

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

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

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

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

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