Unveiling the Thriving Landscape of UAE's IT Service Market

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The IT services sector encompasses a diverse range of offerings, including but not limited to Cloud services, Cloud Applications, Datacenters, Artificial Intelligence (AI), Consulting Services, Connectivity Solutions, Security services, and other related services.

STORY OUTLINE

• Digital Transformation Drive: UAE's IT market thrives on visionary government initiatives like "Smart Dubai" and "UAE Vision 2021," spurring sectoral evolution.
• Cloud's Ascendancy: Rapid cloud adoption, coupled with AI, IoT, and blockchain, reshapes industries for scalability and innovation.
• Security Fortification: UAE's robust cybersecurity imperative meets heightened demand, bolstering local-global collaborations for digital defense.
• Remote Work Revolution: Pandemic drives UAE's IT services, empowering businesses with remote work solutions, connectivity, and data management tools.

"Ken Research anticipates a promising future for the UAE's IT services market, fueled by dynamic digital transformation, expansive cloud adoption, and innovative technologies. With steadfast government support and a resilient cybersecurity ecosystem, the sector is poised for robust growth, shaping the UAE's digital prowess on the global stage."

The United Arab Emirates stands at the forefront of technological innovation, with its IT service market showcasing dynamic growth and boundless potential. As a global business hub and a nation committed to digital transformation, the UAE is experiencing a remarkable surge in demand for IT services, underpinned by several key drivers.

1. Digital Transformation and Government Initiatives

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At the heart of the UAE's IT service market evolution lies a steadfast commitment to digital transformation. The UAE government's visionary initiatives, such as "Smart Dubai" and "UAE Vision 2021," have paved the way for a digitally empowered ecosystem.

These initiatives span various sectors, including healthcare, education, finance, and governance. With substantial investments in smart city projects and infrastructure development, the UAE is redefining urban living through the integration of technology.

2. Cloud Adoption and Emerging Technologies

The UAE's IT landscape is witnessing a rapid shift towards cloud adoption, reflecting the global trend of businesses seeking scalable and cost-effective solutions.

 With a growing number of organizations recognizing the benefits of cloud services, both local and global cloud providers are vying for a share of this expanding market. Moreover, the rise of emerging technologies such as artificial intelligence, the Internet of Things, and blockchain is catalyzing innovation across industries.

From AI-driven customer experiences to IoT-enabled supply chain optimization, these technologies are reshaping business processes and customer interactions.

3. Cybersecurity Imperatives and Remote Work Culture

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In the wake of increased digitalization, the significance of robust cybersecurity measures cannot be overstated.

The UAE's IT service market is witnessing a parallel growth in demand for advanced cybersecurity solutions. As organizations digitize their operations and data, the need to safeguard sensitive information has become paramount.

 This has led to partnerships between local and international cybersecurity firms, working in tandem to fortify the UAE's digital defenses.

The COVID-19 pandemic has propelled the adoption of remote work and digital connectivity, further fueling the demand for IT services. Businesses swiftly embraced digital transformation to ensure continuity amidst the crisis. As remote work transitions from a necessity to a strategic advantage, the UAE's IT service market is stepping up to provide seamless remote collaboration tools, secure virtual networks, and robust data management solutions.

In Conclusion, the UAE's IT service market is a vibrant ecosystem defined by its commitment to digital transformation, the adoption of cutting-edge technologies, the emphasis on cybersecurity, and the rapid integration of remote work solutions. With government support, a thriving business landscape, and an insatiable appetite for innovation, the UAE is poised to continue its journey as a global technology leader. As businesses navigate the evolving digital landscape, the UAE's IT service providers are the catalysts driving these transformations, shaping the future of a digitally empowered nation.

A Clear Outlook: India's uPVC Door and Windows Sector Predicts 11.3% CAGR Growth by 2027: Ken Research

 In a significant development that underscores the booming real estate and construction landscape in India, the uPVC door and windows market is set to witness substantial growth, with a projected CAGR of 11.3% by the year 2027.

Story Outline

• Real Estate Boost: Urbanization fuels demand for spaces. uPVC's energy efficiency makes it a preferred choice in modern constructions, leveraging real estate's growth.
• Leading the Market: Domestic manufacturers dominate uPVC extrusion. Top five fabricators, including Fenesta, Window Magic, and others, hold 12% revenue share, showcasing industry strength.
• Tech Reshaping Construction: Synergy of real estate and uPVC with advanced tech produces high-performance products, meeting evolving design and construction trends effectively.
• Sustainable Future: Amid urban expansion, uPVC aligns with sustainability and energy-efficiency demands, driven by innovation and commitment of industry leaders for a forward-looking construction landscape.

This revelation comes as no surprise, considering the nation's growing urbanization, increasing disposable income, and a renewed focus on sustainable building solutions.

The uPVC (unplasticized polyvinyl chloride) sector has been gaining prominence globally as a sustainable and energy-efficient alternative to traditional construction materials. In India, this trend has caught on, driven by factors such as rapid urban expansion, a rise in residential and commercial construction projects, and a heightened awareness of energy conservation. According to industry experts, this impressive projected CAGR highlights the sector's potential to reshape the way buildings are constructed, with doors and windows playing a pivotal role in enhancing energy efficiency and aesthetics.

1. Real Estate Renaissance

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India's rapid urbanization has led to a surge in the demand for residential and commercial spaces. As cities expand and infrastructural projects take shape, the need for high-quality building materials and solutions becomes paramount.

The real estate industry's growth provides a platform for the uPVC market to flourish, as developers and homeowners alike seek efficient and sustainable solutions for their projects.

uPVC windows and doors, known for their energy efficiency, durability, and low maintenance, have emerged as preferred choices for modern constructions.

2. Industry Players Set Unprecedented High Standards

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In India's uPVC extrusion sector, around 40 domestic manufacturers and approximately 200 import participants operate. Notably, domestic players lead in utilization capacity, forming a significant part of the market.

Fenesta, Window Magic, Dhabriya Plywood, NCL VEKA, and Lingel Windows, the leading five fabricators, collectively hold approximately 10% of the revenue market share in FY'23.

Securing the forefront in capital expenditure, NCL VEKA exemplifies financial prowess and growth potential, positioning it favorably for expansion, acquisitions, technology enhancements, and asset management across property, plants, technology, and equipment.

3. Technological Progress is Shifting the Landscape

Both the real estate and uPVC industries have benefited from technological advancements. Innovative manufacturing processes, hardware integration, and installation techniques have contributed to the creation of high-performance uPVC products that meet the demands of modern construction. This synergy allows the uPVC market to offer solutions that address the challenges posed by changing building practices and design preferences.

In conclusion, the dynamic interplay between India's burgeoning real estate industry and the uPVC market reflects a synergistic relationship driven by urbanization, sustainability, and technological advancements. This promising convergence not only shapes modern construction practices but also envisions a more efficient, aesthetic, and environmentally conscious future.

The Agricultural Equipment Market in the Netherlands: Innovations and Trends

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The agricultural equipment market in the Netherlands is projected to experience a Compound Annual Growth Rate (CAGR) of ~6.5% by the year 2027. Let's delve into the various factors that contribute to this growth.

STORY OUTLINE

• Dutch farming embraces GPS tractors, precision methods for optimal planting, harvesting, increasing yield, and productivity.
• Leading in horticulture, Netherlands' high-tech greenhouses contribute to exports and innovative crop growth under controlled environments.
• Dutch Agri-market innovates to minimize chemicals, conserve water, adopting precision systems for eco-friendly practices.
• Challenges met with research and tech-driven solutions, as automation, data, and sustainability pave Dutch Agri-equipment market's future.

The Netherlands, a country renowned for its picturesque tulip fields and windmills, is also a powerhouse in the agricultural sector. With its technologically advanced approach to farming and horticulture, the Dutch agricultural equipment market has seen remarkable growth and innovation. Let's delve into the key trends and statistics shaping this dynamic market.

1.Technological Advancements and Modernization

One of the standouts features of the Dutch agricultural landscape is its embrace of cutting-edge technology. Precision farming techniques have become the norm, with Global Positioning System (GPS)-guided tractors leading the charge.

These intelligent machines allow farmers to optimize planting, irrigation, and harvesting, resulting in increased efficiency and yield.

2.Greenhouse Horticulture Excellence

The Netherlands is a global leader in greenhouse horticulture, a practice that involves growing crops in controlled environments. These high-tech greenhouses incorporate climate control systems, artificial lighting, and advanced hydroponic or aquaponic setups.

According to recent statistics, nearly 10% of the country's agricultural production takes place within greenhouses, contributing significantly to its export revenues.

3.Sustainable Agriculture and Environmental Awareness

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Environmental concerns and sustainability are at the forefront of Dutch agricultural practices. The Netherlands' agricultural equipment market has responded by offering innovative solutions that reduce chemical usage, conserve water, and minimize environmental impact.

This commitment is evident in the increasing adoption of precision application systems that limit the use of fertilizers and pesticides.

4.Challenges and Future Outlook

Despite its impressive achievements, the Dutch agricultural equipment market faces certain challenges. Rising land prices, labor shortages, and stringent environmental regulations pose hurdles that the industry must navigate. However, the Dutch government's commitment to research and innovation ensures that these challenges are met with inventive solutions.

With a blend of tradition and innovation, the Netherlands' agricultural sector stands as a beacon of modern agricultural practices, inspiring the world with its commitment to efficient and eco-friendly farming.

In conclusion, the Netherlands' agricultural equipment market exemplifies the marriage of technology and agriculture. From precision farming to advanced greenhouse horticulture and automation in dairy farming, the country's approach serves as a model for sustainable and efficient agriculture. As global demands for food production and resource efficiency increase, the Dutch agricultural equipment market is poised to play a pivotal role in shaping the future of farming.

US Micro Lending Market Thrives with 30% Growth, Innovative Solutions, and Inclusive Access

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The US Micro Lending market is expected to grow at a CAGR of 12 % from 2022 to 2028. The market is driven by growth drivers like low-interest Rates, Unbanked population, Ease of Access, Technological Advancements, flexible repayment schedules, and Alternative credit score models.

STORY OUTLINE

• During the Covid-19 Pandemic, the US micro-lending market added 45 Mn new borrowers through digital platforms.
• The number of loan accounts in the US micro-lending market increased significantly by 20% in 2022.
• 60% of the rural population of America prefers micro-loans due to lower interest rates in the country.

According to Ken Research, America is one of the world’s biggest markets for micro-lending with a significant market value. In America, there are a total of 80 Mn active customers in the micro-lending market which includes 50% of female clients as of 2022. The market generates an investment of $100 Mn on average every month. In 2022, the US micro-lending market has the presence of more than 2200 micro-finance companies.

1. Impact of the Pandemic on the US Micro Lending Market

• The global pandemic of covid-19 had a moderate impact on the US micro-lending market. However, the micro-lenders faced a few difficulties such as meeting customers in person, difficulties in the collection of payments, and problems in allocating loans.
• In the year 2021, The US micro-lending market added 45 Mn new borrowers through digital platforms. The US micro-lending market provides micro-loans to around 60% of small and medium-sized enterprises during the economic downfall of the pandemic in 2020.
• The US micro-finance sector witnessed a sudden increase in demand for micro-loans post-pandemic. In 2022, the market added a new 40% of customers and MFIs (Micro Finance Institutions) expanded their product list by bringing new and innovative products or services.

2. Current Scenario of the US Micro Lending Market

• The US Micro Lending Market is leading the global micro-lending market and is projected to grow at a CAGR of 12% between 2022-2028.
• The US Micro Lending Market grew by 30% in 2022 in comparison to the previous year.
• The number of loan accounts in the US micro-lending market increased significantly by 20% in 2022.
• In 2022, the US micro-lending market created a new record by opening 30 Mn micro-loan accounts.

3. Growth drivers of the US Micro Lending Market

• In America around 6 Mn of Individuals don’t have a bank account. Micro-Lending institutions came to the rescue of these individuals by providing them with small credits and monetary services.
• Other variables influencing the US micro-lending market are lower interest rates and ease of access. 60% of the rural population prefers micro-loans due to lower interest rates in the country. And 30% of the population finds it easy to access through digital platforms compared to traditional banking services.
• Technological advancements and Alternative credit score models have played a crucial role in cultivating the growth of this industry. Instead of checking credit history MFIs go through the customer’s educational background, social media behavior, and employment history.

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 4.Major Players of the US Micro Lending Market

• funding circle limited, On Deck Capital Inc, American Express Kabbage Inc, Lending Club Bank, Zopa Bank Limited, Biz2Credit Inc., Lendio Inc., Bluevine Capital Inc., Fundera Inc. (NerdWallet), and Street Shares Inc are some of the major players of the US micro-lending market.
• In 2022, American Express Company announced a suit of financial service products for micro-enterprises. The company has witnessed huge returns of 70% in the last three years.
• Financing Circle extended its access to capital for Nevada small business proprietors taking after authorization from the state.
• Additionally, Lendio Inc also introduced a new mobile app to assist small enterprises with features like access, data, and insight into their capital.

Conclusion

The US micro-lending market has shown remarkable growth in recent years. The market witnessed a growth of 30% with 30 million micro-loans accounts in 2022 despite facing global pandemic and restrictions. The market has 80 million dynamic clients including 50% women and the industry receives $100 Mn monthly investment from its huge customer base. The pandemic helped the market to strengthen its digital presence as the market recorded 45 Mn borrowers from online platforms. This also shows how the market is innovating and developing. The micro-finance market of the US served 60% of SMEs during the global crisis and enhance the products post-pandemic. The market is driven by the Unbanked population, lower interest rates, and developed credit models. Market leaders like American Express and Funding Circle are strengthening the market even more by expanding the business globally.

India Hosiery Market expected to grow with CAGR of ~12% by 2028: Ken Research

 Story Outline

• According to Ken research, the India Hosiery market at a CAGR of ~12% during the forecast period (2023-2028).
• Factors driving the India Hosiery market are increase in demand for Hosiery clothes in India due to warmer temperature and better comfortability.
• Trends in India Hosiery market which are exaggerating the market by various key players.
• Competitive landscape of the India Hosiery market, which are making it, grow higher.

1.  Growth of India Hosiery market is getting higher with ~12% CAGR

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India Hosiery market is on a constant rise during the forecast years. They show a CAGR of ~12% during the forecast years 2022-2028 and will continue to grow exponentially. The basic reason for this growth is the availability of a wide range of products. Therefore, many online sites are giving discounts and sales are soaring high in India.

Demand of basic products like socks, leggings and other clothes is increasing because of better brands and styles and the market is growing due to increase in working population. Innovations are constantly. During the year 2022, the market showed a sudden growth with a CAGR OF 12% in a year. From 2017 to 2022, the market has grown with ~2 %. It got abstain due to Covid but still survived. In Hosiery Market India is becoming more competitive as the HHI index in 2022 was 5321 while in 2017 it was 8132. Herfindahl Index measures the competitiveness of exporting countries.

2.  Which are the driving factors for the growth of India hosiery market?

Driving factors of India Hosiery market

The major reasons, which are driving the market of Indian Hosiery, are better penetration of online sales. Attraction of youth towards yoga and work out which need hosiery clothes. Changing lifestyles and demographic factors are bringing changes in demand patterns for hosiery.

Also due to the rise in disposable income and more number of the working population of women, the demand for fashion and luxury items is increasing in the region. Backed by a revival in rural demand, India's hosiery industry is expected to see 18-20 per cent revenue growth this fiscal, reaching ₹36,000 crore, CRISIL Ratings has said. Rise in operating advantage from higher capacity utilisation will aid profitability in the India hosiery market over the years.

3. Trends which are hyping the growth of India Hosiery market

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Innovations are fuelling the India Hosiery market. Mixing of fabrics to make the cloth more comfortable and having better styling. Major companies are doing mergers and acquisitions in this market.

Innovative clothing such as organic products, anti-bacterial sanitized yarn, non-compression, soft elastic leggings, and long socks to satisfy consumer needs are fuelling the growth of India hosiery market. For the last few years, with the price increase of 250% in cotton fibre in past nine to ten months, the entire textile industry has been tremendously affected and exports fell drastically.

The United Kingdom hosiery brand Elle re-launched a range of footless tights, leggings, above the knee, and shaping in more sizes than before. In India AEPC and FOHMA both were partners in the garment industry’s demand for the establishment of AEPC.

4. Outlook of India Hosiery market is expected to grow higher

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The Hosiery Market is fragmented, with various regional and global players, such as Wolford AG, Hanesbrands Inc., Jockey International Inc., Gilfin S.P.A., and CSP International Fashion Group SpA. With the growing penetration of online sales, players have increased their focus on e-commerce sales. Players are also bringing innovations, such as a mix of fabrics, to attract more users. India has a large cotton production, which will fuel the market. The youth is attracted towards physical fitness and buying hosiery clothes for yoga and workout.

This is likely to grow in coming years and thus from 2022-2028, it is expected to grow with a CAGR of ~12-13%. The India hosiery market is showing exceptional growth in exporting the items to neighbouring countries like Bangladesh, Nepal and Sri Lanka.

Hosiery production has grown in Delhi NCR, Ludhiana, and Bangalore during the last 30 years, but there is much more yet to happen. Jaipur, Indore, Pune, Kanpur, Varanasi, Nagpur, Surat, Bhubaneswar, Guwahati, Patna, and Ranchi can also move ahead. Encouraged by the development scheme of PLI in many states and the central government the investors and Industry move forward.

Europe Wheat Protein Market expected to grow with CAGR of ~6% by 2028

 Wheat flour is added as a vital ingredient in convenience food items such as bakery and confectionery products, snacks, and ready-to-eat foods to improve the texture and profile of the food product.  The region's consumption of ready-to-eat food and beverages increased noticeably over the past few years.

STORY OUTLINE

• According to Ken research, the European Wheat protein market at a CAGR of ~6% during the forecast period (2023-2028).
• Factors driving the Europe Wheat protein market are rising consumer demand.
• Challenge like substitutes for wheat protein hinder the growth of Europe protein market growth
• Outlook of Europe wheat protein market is expected to grow higher due to high consumption and demand arising factors.

1. Growth of European Wheat protein market is getting higher with ~6% CAGR.

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In Europe more than half of cereals grown are wheat, therefore it is the world's largest wheat producer, contributing 139 million metric tons in 2021. This is making the growth of European wheat protein market at a CAGR of 5.87% by 2028.

Due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing European countries are inclining more toward convenience foods, bolstering the market's growth.

According to OECD, Europe's per capita wheat consumption increased from 89.5 kg in 2020 to 90.04 kg in 2021. This increase in consumption is also supported by the rise in the area harvested under wheat.

The area harvested under wheat is 70.1 in 2020 and 71.2 in 2021. Thus, the increasing land under wheat cultivation is pushing production, thereby increasing the per capita consumption of wheat. It leads to the wheat market growth during the forecast period.

2. Which are the driving factors for the growth of Europe Wheat protein market?

Other driving factors of Europe wheat protein market

Growing consumer demand for convenience food products is bolstering the growth of the wheat market in Europe. The rise in urbanization changed consumption patterns and made people tend towards more convenience foods such as bread, confectionary, etc.

Along with this, consumers are interested in nature, convenience, and indulgence, and they are moving away from home consumption, which means less time spent on home food preparation and consumption.

Nutritional advantages are one of the major growing drivers of wheat market in Europe due to increasing lactose intolerant and health – conscious customers.

It is also used in cosmetic and personal care industry. Popularity in muscle building and athletic population is also an important factor, which is used to drive the growth.

3. Challenges faced by Wheat protein market which hinder their growth

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One of the main reasons, which could hinder the growth of the Europe Wheat protein market are the availability of close replacements like plant-based proteins.

In addition, the technological advancements are limited in the sector of wheat protein. Unlike other proteins like Whey etc. which are significantly working in their R&D department.

The other major factors that could risk the market are the health issues arising due to using high protein powders, fluctuations in raw material prices and supply chain interruptions due to pandemic.

Wheat protein also caused gluten related illness and its hindering the market. However, University of Cambridge has issued an article about the facts and misconceptions about gluten as many individuals ignore gluten due to false beliefs like having coeliac disease from gluten consumption.

In Europe, currently, the UK, France, and Russia are the hardest-hit countries by the COVID-19 outbreak. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain.

The disruptions in the supply chain, the shutdown of manufacturing units, and labor shortages had a negative impact on the wheat protein market.

4. Outlook of European protein wheat market is expected to grow higher

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Consumers increasingly prefer plant-based proteins such as wheat protein due to the high demands of meat-based protein. Germany is being an attractive market for manufacturers and exporters and it will grow in coming years due to increasing demand.

The key players in the market are ADM, Cargill, and MGP Ingredients. It is expected to grow at a CAGR of ~6% from 2023 to 2028. Two major trends that are shaping the wheat protein market are the scaling demand for clean label products and the emerging shift toward vegan and vegetarian diets. The movement for the clean label has driven the demand for sustainable and straightforward ingredients.

The Future of UK Agricultural Equipment Market: A Path Towards Sustainability and Efficiency

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Projected at a CAGR of around ~3.5% (2022-2027), the UK's Agri equipment market grew during 2014-2018 but contracted sharply in 2019-2020 due to the COVID-19 pandemic.

STORY OUTLINE

• Precision agriculture tech, like GPS-guided tractors and drones, is set to revolutionize UK farming, enhancing efficiency through informed decisions on planting and irrigation.
• The UK's net-zero commitment spurs demand for eco-friendly equipment. Electric tractors and soil-friendly machinery address environmental concerns and promote sustainable farming practices.
• Government incentives for sustainable practices and modern equipment are expected to boost market growth. Subsidies may lead to a 10% rise in equipment sales by 2025.
• Farmers unite for cost-effective solutions through machinery sharing. Community-driven ownership models not only save expenses but also foster a sense of unity among farmers.

According to Ken Research, As the UK strives to achieve sustainable farming practices and address environmental concerns, the agricultural equipment market will continue to evolve, presenting both opportunities and challenges for farmers, manufacturers, and policymakers alike. Staying informed about these trends will be essential for stakeholders to navigate the evolving landscape successfully.

The United Kingdom's agricultural landscape is evolving rapidly, driven by technological advancements, environmental concerns, and shifting consumer preferences. The agricultural equipment market, a crucial component of this evolution, is witnessing transformative changes that are set to shape the future of farming in the UK. This article explores key trends and statistics that provide insights into the future of the UK agricultural equipment market.

1. Technological Advancements for Precision Agriculture

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Precision agriculture technologies are poised to become integral to the UK farming sector's future. According to recent industry reports, the adoption of precision farming tools is projected to increase by over 20% annually.

These technologies, including GPS-guided tractors, sensor-equipped drones, and data analytics platforms, enable farmers to optimize their operations by making informed decisions about planting, irrigation, and fertilization.

2. Sustainability as a Driving Force

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Sustainability is a key driver of change in the agricultural equipment market. The UK government's commitment to achieving net-zero carbon emissions by 2050 has catalyzed efforts to develop eco-friendly farming practices.

Consequently, there is a growing demand for agricultural equipment that reduces environmental impact. Farm machinery manufacturers are investing in the production of electric and hybrid tractors, autonomous machinery, and equipment that minimizes soil compaction and chemical use.

3. Government Initiatives and Policies

Government policies and initiatives are expected to play a pivotal role in shaping the future of the agricultural equipment market. Subsidies and grants that incentivize farmers to adopt sustainable practices and invest in modern machinery are likely to gain prominence.

These policies align with the UK's focus on sustainable agriculture and may significantly impact market growth. Experts project that government support for agricultural technology adoption could lead to an overall 10% increase in equipment sales by 2025.

In Conclusion, the future of the UK agricultural equipment market is undergoing a transformation that is reshaping the way farmers approach their operations. The integration of precision agriculture technologies, emphasis on sustainability, and collaborative ownership models are poised to drive significant changes.

Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research

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In this enlightening whitepaper, we delve into the intricacies of the UAE's debt collection industry, which has witnessed a formidable surge in growth over the last five years. Amidst this backdrop of remarkable expansion, the industry now confronts a shifting terrain marked by emerging challenges and evolving bottlenecks. But with newer challenges and evolving bottlenecks, will the industry’s robustness decline? Check out the entire whitepaper to find out more.

1. The Debt Collection Industry in UAE experienced a high volume of cases due to ease of credit availability & the industry saw a ~11% Compound Annual Growth Rate (CAGR) between 2017-22

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2. The increasing use of technology for better recovery predictions, enhancement of people skills of collectors and improvement in KSA legal system act as catalysts for the industry…

2.1…While, talent shortage, increasing labor costs and high default rates are major concerns for the incumbent players in the market

2.2 Moreover, High capital requirements and switching costs for customers create barriers for new entrants within the industry

3. But, the Debt collection platforms integrated armed with latest tech is starting to transform the entire debt recovery process for clients

4. The pandemic-induced financial trends, a greater emphasis on NLP techniques, and maintaining proper documentation will act as key growth drivers that will enable a double-digit CAGR over the next 5 years

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

• MENA Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
• Australia Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
• Brazil Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
• Global Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
• India Payment Service Market Outlook to 2027F driven by government initiatives & rising need for faster payment modes

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UAE Debt Collection Market

SABIC, Ma'aden, Zamil Steel, Tasnee Lead Middle East Metal Working: Ken Research

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These companies are playing a crucial role in uplifting the trade & manufacturing within the region, keeping sustainable practices in mind

In the dynamic landscape of the Middle East, Zamil Steel and Tasnee stand as catalysts, shaping the region's infrastructure and transport arena. With Zamil Steel's prowess in pre-engineered steel products and Tasnee's leadership in metal production, their collaborative efforts are ensuring Middle East region’s substantial progress. Amidst these transformative endeavors, SABIC and Ma’aden's strategic engagements further encourage the trajectory of growth and sustainability.

Story Outline

• According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.
• SABIC's global trade reach and Ma'aden's investments fortify the region's economic standing. Ma'aden's alignment with Vision 2030 and sustainability goals demonstrates their commitment to responsible practices, setting a framework for eco-friendly development in the metalworking industry.
• Tasnee's industrial vending machines and Zamil Steel's extensive steel fabrication bolster Middle East manufacturing, providing direct access to essential supplies and contributing to growth across diverse sectors.
• Zamil Steel and Tasnee are known for steel and metal innovations for Middle East infrastructure, seen in projects like the Formula One circuit and logistics partnerships.

1. Zamil Steel and Tasnee: Shaping Middle East's Infrastructure and Transport Landscape

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The Middle East region is gradually trying to increase its manufacturing industry. Many leading companies like Tasnee have launched a private pilot service for industrial vending machines. These machines aim to provide industry consumables & maintenance, repair & operations parts to the end users directly.

So far, Zamil Steel has produced a total of 500,000 MT of fabricated steel of low- & high-rise steel building through 10 state-of-the-art facilities in Middle East, Africa & Asia for industrial, commercial, agriculture, aviation & military application & support of infrastructure & development projects.

According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

2. SABIC’s Global Trade & Ma’aden’s Strategic Investments

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Middle East countries have had a strong trading relation with countries like Europe, Asia & Africa. In 2022, Saudi Basic Industries Corporation (SABIC) has successfully maintained it’s trade with customers in over 130 countries & have partnered with leading logistics providers to sustain transportation & storage costs & successfully deliver products globally.

Saudi Arabian mining company Ma’aden & the Public Investment Funds have signed a binding agreement to acquire a 10% stake in Vale, a Brazilian base mental companies to derive global investments.

3. Ma’aden’s Commitment to Environmental Responsibility in the Metalworking Industry

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Metalworking industries require to address environmental concerns to meet regulatory requirements & align with market expectations. Ma’aden has sustainability values in place with Ma’aden strategy policy built till 2030 & they take Vision 2030 for Saudi Arabia, International Council on Mining & Material & the Sustainable Development Goals given by UN. These ensure that there is a best-practice framework for sustainable development in the metal & mining industry.

Conclusion

In the ever-evolving landscape of the Middle East's infrastructure and manufacturing sectors, companies like Zamil Steel and Tasnee have played crucial roles, when it comes to the region & international growth of the metalworking market. With Zamil Steel's impressive track record in pre-engineered steel products and Tasnee's innovative approach, they are shaping the region's future. These endeavors align with broader strategies, such as SABIC's global trade reach and Ma'aden's sustainable commitments, showcasing a harmonious blend of economic progress and environmental responsibility for a brighter tomorrow.

Can the US Online Sports Betting Market reach a CAGR of 12% by 2028? : Ken Research

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With multiple sports betting organizations competing and flowing up with fund raisers and trustworthy partnership and with the leading betting sports being ‘The NFL’, the US Online Sports Betting Market is projected to rise to a CAGR of ~12% by the year 2028.

STORY OUTLINE

• The turning down of Professional and Amateur Sports Protection Act led to companies to shift from illegal to legal growth.
• With increased smartphone adoption and high amount of internet penetration, market growth skyrocketed over the years.
• ‘The NFL’ makes maximum market output in the US online sports betting market.
• Rise in fan engagement and incorporation of new betting products will pave a new way for rise in the US online sports betting market.

1.The turning down of Professional and Amateur Sports Protection Act led to companies to shift from illegal to legal growth.

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• The PASPA or Professional and Amateur Sports Protection Act was turned down in 2018 by the Supreme Court, making betting legal.
• Supreme Court reviewed case Murphy v NCAA, stating that it violated Tenth Amendment of the United States Constitution.
• New Jersey had a rough toe-to-toe with NCAA regarding the legalization of sports betting in Atlantic City, where the plaintiff won with majority votes.
• The bringing down of PASPA, made the other legislative states to work with legalising sports betting.

According to Ken Research, the US Online Sports Betting Market is rising with a surge in enormous fan base, social media connectivity and increased smartphone and internet penetration, has marked a rise in the market. With major players like DraftKings, FanDuel, BetMGM, Caesars Entertainment, PointsBet, market surge is evident with legal betting, a projected CAGR of ~12% by the year 2028 is to be observed. The NFL is currently the leading growth maker which is currently making the most percentage of output for the US Online Sports Betting Market.

2.With increased smartphone adoption and high amount of internet penetration, market growth skyrocketed over the years.

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• With a 93% increase in smartphone adoption, US online sports betting market is going through an advantageous rise in growth.
• Global digitization has led to a 98% increased internet penetration, leading to the proper adoption of online sports and legal betting.
• With 5G infrastructure, US skyrockets in the adoption of online sports betting with profiting for both sides; companies and users.
• The prevalence of smartphones and robust internet connectivity has facilitated the rise of in-play betting and live streaming, marking a proper growth.

3.‘The NFL’ makes maximum market output in the US online sports betting market.

• With enormous Fan base and longer sessions, The NFL has a massive fan engagement running from September through January with culminating in Super Bowl.
• Online sports betting platforms offer a wide range of betting markets for NFL games, including point spreads, moneylines, over/under totals, player prop bets, and more.
• Via official league sponsors or through deals with the individual teams, NFL increases the visibility of online betting.
• With the new Fantasy football, at least 70% of the sports engagers create virtual teams with real NFL players betting on player performances, boosting the market growth.

4.Rise in fan engagement and incorporation of new betting products will pave a new way for rise in the US sports betting market.

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• With 51 Mn people betting on super bowl, a massive surge of the US online sports betting market is seen.
• At least 2 out of 5 people are betting on the super bowl, resulting in the standing population that are currently increasing the market size constantly.
• With the increasing number of bets placed, US crosses over 1 Bn USD over the course of years.
• With Social media integration and community aspects, betting becomes more influential for a long period of 5 months every year, rising the growth even more.

CONCLUSION

The US Online Sports Betting Market had once been restricted from legally being organized in any state, except for a few. But with the removal of PASPA, the traditional betting market along with the online sports betting market has made exceptional growth. With everyday rising fan base and high penetration of internet and smartphone, The US Online Sports Betting Market propels itself towards the top every year.https://kenresearch.hashnode.dev/can-the-us-online-sports-betting-market-reach-a-cagr-of-12-by-2028-ken-research