Author: Amanrenub

Video Game Market Size Forecast Report 2024-2032

Global Video Game Market Overview and Growth Forecast

The Video Game Marketis projected to grow from US$ 230.86 billion in 2023 to US$ 563.44 billion by 2032, with a CAGR of 10.42% from 2024 to 2032. This growth is driven by advancements in technology, the rise of online gaming, and the increasing demand for 3D games. Additionally, the proliferation of smartphones has made video games more accessible, portable, and interactive, contributing to the market’s rapid expansion.

Video Game Market Overview

Video games, which offer interactive digital entertainment, are available on platforms like consoles, PCs, and smartphones. With technological advancements such as 3D environments, enhanced graphics, and interactive features, video games have become increasingly immersive. Both online and offline games offer different experiences, with cloud-based gaming gaining popularity due to its flexibility and real-time data access.

Report Highlights:

  • Base Year: 2023
  • Forecast Period: 2024–2032
  • Market Size in 2023: US$ 230.86 billion
  • Projected Market Size in 2032: US$ 563.44 billion
  • CAGR: 10.42%

Key Growth Drivers:

  1. Increase in Competitive Multiplayer Games: Games like Call of Duty (COD) and PUBG have surged in popularity, driven by the rise of esports and multiplayer gaming. Players are drawn to the real-time interactions and competitive environments these games offer, which has enhanced player engagement and in-game purchases.
  2. Smartphone Penetration: The growing number of powerful smartphones, coupled with rising internet speeds, has expanded the gaming audience. Games like Overwatch 2 offer free-to-play and paid versions, boosting the appeal of online multiplayer games.
  3. Cloud Gaming: The growth of cloud gaming is transforming the industry by offering players access to high-quality gaming without needing advanced hardware. Companies like Xbox and PlayStation are incorporating cloud technology to expand their reach and capitalize on 5G networks, which further improve gaming experiences.

Regional Insights:

  • Asia Pacific: Dominated by large populations and mobile innovation in countries like China and India, this region leads the global video game market. Government support and growing professional gaming industries have contributed to significant market growth. In 2023, Chinese authorities granted 521 new game licenses, reflecting the market’s potential.
  • North America: The region remains a major player due to advanced technology, strong internet infrastructure, and prominent gaming companies like Microsoft and Activision Blizzard.

Notable Company Developments:

  • Penta Esports raised $1 million in funding in 2023 to expand opportunities for esports athletes.
  • Microsoft and Nvidia announced a 10-year partnership to bring Xbox PC games to Nvidia GeForce NOW, expanding game streaming to over 25 million users.
  • Marvel and Electronic Arts Inc. formed a long-term partnership in 2022 to create new action-adventure games, starting with an Iron Man-themed game.

Market Segmentation:

  • Platform: Online, Offline
  • Age Group: Generation X, Generation Y, Generation Z
  • Device: Smartphones, Computers, Consoles

Related Report :

5G Technology Market
3D Printing Market
Europe Cyber Security Market

Leading Companies:

Key players in the video game market include:

  • Activision Blizzard
  • Apple Inc.
  • Disney
  • Electronic Arts Inc.
  • Lucid Games
  • Microsoft
  • Nintendo
  • Sony Interactive Entertainment Inc.
  • Tencent Holdings Ltd.

The video game industry is on a path of continuous growth, fueled by advancements in gaming technologies, increasing mobile gaming adoption, and the rise of competitive esports.

About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9500 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Video Surveillance Market And Size Forecast Report 2024-2032

Global Video Surveillance Market: Growth Forecast and Analysis

The Video Surveillance Market is experiencing rapid growth and is projected to reach US$198.89 billion by 2032, up from US$69.80 billion in 2023, with a CAGR of 12.34% from 2024 to 2032. This growth is driven by increasing security demands across schools, airports, businesses, homes, and public spaces.

Market Overview

Video surveillance involves using cameras to monitor and record activities within specific settings, often for security purposes. It includes technologies like CCTV and IP cameras integrated into sophisticated security systems. Applications range from crime prevention and traffic control in cities to protecting sensitive infrastructure like airports and energy stations. Recent advancements in AI and analytics—including facial recognition and real-time threat detection—have further propelled market expansion.

Report Highlights:

  • Base Year: 2023
  • Forecast Period: 2024–2032
  • Market Size in 2023: US$ 69.80 billion
  • Projected Market Size in 2032: US$ 198.89 billion
  • CAGR: 12.34%

Key Growth Drivers:

  1. Increasing Security Concerns: Rising threats of crime, terrorism, and vandalism have driven investments in video surveillance technologies. Public and private entities are adopting high-definition cameras and central monitoring systems to mitigate threats. For instance, Infinova Company secured a major contract in 2023 to supply over 6,000 cameras across 60 Indian airports.
  2. Technological Advancements: Innovations like AI, 4K resolution, and IP systems are enhancing the efficiency of surveillance systems. 5G technology is also expected to revolutionize real-time video streams and traffic control systems.
  3. Growth of Smart Cities: As cities become smarter, video surveillance plays a pivotal role in security, traffic flow, and emergency response. The Indian government has sanctioned ₹ 2,05,018 crore for the Smart Cities Mission, incorporating advanced surveillance systems in urban infrastructure.

Regional Market Insights:

  • North America: The region holds a significant market share due to increasing security threats and technological advancements. The U.S. is a leader in this market, with initiatives like the U.S. Department of Homeland Security allocating USD 3.5 billion to security technology development in 2023.
  • Europe: The European Union reported that 68% of organizations had adopted cloud-based video surveillance in 2023, with Germany focusing on smart city development and public safety.
  • Asia-Pacific: The region dominates the global market due to rapid urbanization and technological adoption in countries like China, Japan, and India. China, in particular, is investing heavily in smart city projects and surveillance technologies, with the market expected to reach USD 20.8 billion by 2025.

Company Insights:

Leading players in the video surveillance market include:

  • Honeywell International Inc.
  • Hangzhou Hikvision Digital Technology Co., Ltd
  • Bosch
  • Schneider Electric SE
  • Panasonic Holdings Corporation
  • Cisco Systems Inc
  • Motorola Solutions, Inc.

Recent developments include:

  • Becklar, LLC‘s acquisition of Eyeforce Inc. in 2023 to expand its safety solutions.
  • Axis Communications launched an AI-powered video analytics platform in 2024.
  • Hikvision unveiled a cloud-based video management system in early 2024.

Related Report :
Smart TV Market
5G Technology Market
Li-Fi Market

Market Segmentation:

  • Components: Hardware, Software, Services
  • System Type: Analog, IP-Surveillance, Hybrid
  • Applications: Public Facility, Commercial, Military & Defense, Residential, Industrial

The global video surveillance market is set for explosive growth, with technological innovations and smart city projects driving demand across various sectors. Key players are focusing on expanding their offerings, enhancing real-time monitoring, and integrating AI for better threat detection.

Global Watch Market And Size Forecast Report 2024-2032

Global Watch Market: A Detailed Analysis and Growth Forecast

The global watch market is poised for significant growth, with key drivers such as rising demand for luxury branded watches and new entrants introducing sportier and health-conscious designs.Global Watch Market Renub Research provides an in-depth analysis, forecasting the market to grow from US$ 73.82 billion in 2023 to US$ 114.81 billion by 2032 at a CAGR of 5.03%.

Market Overview

The watch market is segmented based on watch type, end-user, and regional distribution. Quartz watches dominate the market, and offline distribution channels hold the largest share. The market’s competitive landscape includes top players like Fossil Group Inc., Citizen Watch Co. Ltd, Titan Company Limited, Apple Inc., and Seiko Holdings Corporation.

Market Size and Forecast

The global watch market, valued at $73.82 billion in 2023, is projected to reach $114.81 billion by 2032. The offline distribution model remains the most popular channel for sales.

Key Market Drivers

  1. Rising Demand for Luxury Branded Watches: These watches are favored for their craftsmanship, unique designs, and associated prestige.
  2. New Entrants Offering Sportier Designs: Innovative, health-conscious designs are attracting a younger and wider demographic.
  3. Smartwatch Adoption: Growing demand for smartwatches due to fitness tracking and multifunctionality continues to drive the market.

Challenges

The watch industry faces:

  • Competition from Smartphones: Leading to declining demand for traditional watches.
  • High Production Costs: Particularly for luxury watch manufacturers.
  • Environmental Concerns: The environmental impact of watch production and disposal is increasingly becoming a challenge.

Regional Analysis

China led the luxury watch market in 2022, while other regions like North America and Europe continue to show steady growth in both luxury and mid-range segments.

Impact of COVID-19

The pandemic significantly reduced discretionary spending, leading to a drop in watch sales. However, the market is expected to bounce back as consumer confidence recovers.

Analyst Recommendations

Renub Research advises manufacturers to:

  • Focus on innovative designs and sustainability to cater to growing demand and environmentally conscious consumers.
  • Capitalize on the surge in smartwatch demand and continue offering luxury designs.

Related Report :

Global Cosmetics Market
Europe Movie Market
Africa Condom Market

Global Wheat Market And Size Forecast Report 2024-2032

Global Wheat Market Analysis

As per Renub Research’s latest report titled “Global Wheat Market Report by Nature (Organic, Conventional), End User – B2B (Food & Beverages, Animal Feed, Industrial Use, Others), B2C (Online, Offline) Countries and Company Analysis, 2024-2032,” the Global Wheat Market is projected to surpass US$ 68.34 billion by 2032 from US$ 45.60 billion in 2023, with a CAGR of 4.60% from 2024 to 2032. Wheat is the world’s most cultivated crop, vital for stabilizing food production globally. The most widely grown species are Triticum aestivum (common wheat), T. compactum (club wheat), and T. durum (durum wheat).

Growth Factors:

  1. Increasing Global Consumption: Rising population and health awareness have led to higher demand for wheat-based products such as bread, pasta, noodles, biscuits, and snack foods.
  2. Shift to Organic Wheat: The organic wheat segment is expected to grow due to rising consumer interest in organic and healthy foods.
  3. Diverse Applications: Wheat is used across industries, including food & beverages, pharmaceuticals, cosmetics, animal feed, and industrial applications like bio-plastics and adhesives.

COVID-19 Impact:

During the COVID-19 pandemic, there was a notable rise in the consumption of wheat-based staple foods. However, disruptions in the supply chain and production were observed. Going forward, wheat producers may need to adapt to e-commerce platforms and omnichannel strategies to sustain growth.

Regional Highlights:

  • China: The largest wheat consumer in 2021, where wheat serves as a staple food alongside rice. As China’s population grows, wheat consumption is expected to increase.
  • Russia: Leading wheat exporter, with strong production driven by end-use industries in Southeast Asia and other importing regions like Egypt, Turkey, and Indonesia.

Key Market Players:

Major companies in the wheat market include:

  • Archer Daniels Midland
  • Tate and Lyle
  • General Mills, Inc.
  • MGP Ingredients Inc.
  • Kerry Group

These companies are working on increasing production to meet rising global demand.

Market Summary:

  • Consuming Countries: Key consumers include China, India, European Union, United States, Pakistan, and others.
  • Producing Countries: Major producers include Russia, European Union, India, Canada, Ukraine, and Australia.
  • Importing Countries: Top importers include Egypt, Indonesia, Brazil, Philippines, Turkey, and Mexico.
  • Exporting Countries: Leading exporters are Russia, United States, Canada, Ukraine, and Argentina.

Related Reports:

GCC Hydroponic Market
Biological Organic Fertilizers Market
Industrial Hemp Market

The global wheat market is poised for steady growth, with increasing demand for both organic and conventional wheat. With wheat’s broad applications across multiple industries, its market is expected to remain robust in the coming years.

Wound Care Market And Size Forecast Report 2024-2030

Global Wound Care Market Overview:

The global wound care market was valued at US$ 20.36 billion in 2023 and is projected to reach US$ 33.63 billion by 2032, growing at a CAGR of 5.73% from 2024 to 2032. This market growth is driven by the rising aging population, increasing prevalence of chronic diseases such as diabetes and obesity, and continuous advancements in wound care technologies and products.

Key Growth Factors:

  1. Technological Advancements: Breakthroughs in wound care technologies, including advanced dressings, bioengineered skin substitutes, and negative pressure wound therapy (NPWT), are key drivers of market growth.Wound Care Market Innovations like smart wound care products equipped with sensors and real-time digital monitoring are revolutionizing wound care and contributing to better patient outcomes.
  2. Rising Prevalence of Chronic Wounds: Conditions like diabetic foot ulcers and pressure ulcers are on the rise globally, increasing the demand for advanced wound care solutions. With the growing number of patients suffering from these conditions, healthcare providers are seeking more effective treatments.
  3. Aging Population: The growing elderly population worldwide significantly contributes to the increased demand for wound care products, particularly for chronic wounds associated with age-related conditions such as venous ulcers and pressure sores.

Regional Insights:

  • United States: The U.S. market continues to see dynamic growth, fueled by advances in technology, increasing chronic conditions, and a well-established healthcare infrastructure. The country’s aging population and growing need for advanced wound care solutions further support this trend.
  • Europe & Asia Pacific: Countries like Germany, France, China, and Japan are experiencing rising demand for wound care solutions, driven by higher healthcare expenditure and aging demographics. These regions are projected to see significant growth over the next decade.

Wound Care Product Segments:

  • Advanced Wound Dressings: Including foam, antimicrobial, alginate, hydrocolloid, hydrogel, and film dressings that offer improved moisture management and promote healing.
  • Traditional Wound Care Products: Includes adhesive, non-adherent dressings, and traditional gauze used for basic wound management.
  • Bioactive Products: Bioactive wound care products interact with biological tissues to speed up the healing process.
  • Negative Pressure Wound Therapy (NPWT): A growing area in wound care, NPWT accelerates healing by using controlled vacuum pressure.

Application:

  1. Chronic Wounds: Such as diabetic ulcers, venous leg ulcers, and pressure sores, which require advanced wound care solutions for better management and healing.
  2. Acute Wounds: Include surgical incisions, cuts, abrasions, and trauma-related injuries that benefit from quick, effective care.

End-User Segments:

  1. Home Care Settings: Growing demand as more elderly patients manage chronic wounds in home healthcare environments.
  2. Long-Term Care Facilities: The demand is increasing in nursing homes and rehabilitation centers where specialized wound care is essential.
  3. Hospitals & Clinics: Remain critical settings for treating both chronic and acute wounds, utilizing advanced wound care products.

Key Players:

Prominent players dominating the global wound care market include:

  • Mölnlycke Healthcare
  • Smith & Nephew
  • Ethicon Inc (subsidiary of Johnson & Johnson)
  • Coloplast Corp
  • ConvaTec Group PLC
  • Derma Sciences Inc (now part of Integra LifeSciences)

Recent Developments:

  • MiMedx Group, Inc. launched EPIEFFECT in September 2023 to expand its range of enhanced wound care solutions.
  • JeNaCell introduced Elicit Balance wound dressing in Germany in June 2023 for treating chronic wounds, expanding their product portfolio.
  • Smith & Nephew secured a cutting-edge technology contract for its PICO Single Use NPWT Systems in May 2023.
  • Bactiguard AB partnered with Quintess Medical in March 2023 to launch its wound care products in Ireland and the UK.

Related Reports:

Multiple Myeloma Market 

Cystic Fibrosis Therapeutics Market

Global Antacids Market 

Paper Packaging Market Size And Forecast : Report 2024-2032

Paper Packaging Market

The size of the paper packaging market is expected to reach USD 541.0 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.38% from 2024 to 2032, from USD 367.8 billion in 2023.

  • The pulp and paper industry uses between 33 and 40 percent of all industrial wood traded globally to make products including tissue, glossy paper, Paper Packaging Market office and catalog paper, and paper-based packaging.
  • Over 40% wood pulp is used in the production of paper.
  • A single large pulp and paper plant can consume over 3.5 million tons of wood annually.

Growth Drivers of Paper Packaging Market

Expanding e-commerce sector

The worldwide retail landscape has made online shopping a mainstay, which calls for durable, adaptable, and reasonably priced packaging solutions. Paper-based packaging is a desirable choice since it is flexible enough to accommodate a range of product sizes and shapes and is lightweight, which can drastically lower shipping costs. Furthermore, in the era of digital purchasing, the unboxing experience has emerged as a crucial factor in consumer pleasure and brand perception, with packaging offering several chances for personalization and branding. This element plays a key role in stimulating innovation in the packaging sector as companies work to create new styles and materials that improve the protective capabilities and visual appeal of their packaging while meeting the various demands of customers and e-commerce enterprises.

Product Type- Market breakup in 5 viewpoints:

1.    Corrugated Boxes

2.    Folding Boxes and Cases

3.    Liquid Paperboard Cartons

4.    Paper Bags and Sacks

5.    Others

End Use- Market breakup in 8 viewpoints:

1.    Food & Beverage

2.    E-Commerce

3.    Electrical & Electronic

4.    Home Care

5.    Personal Care & Cosmetic

6.    Automotive & Industrial

7.    Healthcare

8.    Others

Paper Packaging Market Segment Insights

Paper Packaging Product Type Insights

Paper bags and sacks, paper pouches, corrugated boxes, and boxboard or paperboard cartons are all included in the market segmentation of paper packaging depending on type. With a contribution of roughly 50–55% to the market sales in 2021, the corrugated paper packaging segment held the lion’s share. Corrugated boxes are stronger than regular cardboard boxes. Throughout the handling and shipping process, they act as a reliable cushion for whatever cargo they are moving. Corrugated cardboard’s size can change based on its thickness and dimensions.

Restraining Factors

Deforestation and the incapacity to package heavy goods could limit market growth.

Paper packaging faces significant challenges when it comes to packing heavy items. As a result, manufacturers are embracing polymer packaging products, which might potentially impede the growth of the paper-based packaging industry. In comparison to other materials like metal or plastic, the product has limited strength and durability and is prone to tearing, especially when handled roughly or exposed to harsh circumstances. Additionally, some paper packaging might be fragile and lack the support that less ecologically friendly packaging offers for the safe transportation of the goods.

The Future of Paper vs Plastic Packaging Markets to 2028

  • Paper will still be used extensively in e-commerce, but innovations in plastic and bioplastic liners will impact this shift. Reuse and closed loop technologies may also play a role.
  • Future trends will see a steady shift away from single-use plastic consumables and toward paper, bio-based products, bioplastic, and reusable materials.

Throughout the next ten years, packaging innovation will be mostly driven by sustainability. For numerous consumers, brands, and lawmakers, switching from plastic packaging that is more difficult to recycle to paper packaging is the most observable way to do this. To determine where and when such a shift can be undertaken, this dedicated Smithers study compares the benefits of fiber- and plastic-based formats in 25 distinct packaging applications in the current market.

Country- Market breakup in 25 viewpoints:

North America

  • United States
  • Canada

Europe

  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Belgium
  • Netherlands
  • Turkey

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand

Latin America

  • Brazil
  • Mexico
  • Argentina

Middle East & Africa

  • Saudi Arabia
  • UAE
  • South Africa

All the Key players have been covered from 4 Viewpoints:

•    Overview

•    Recent Development

•    Product Portfolio & Product Launch in Last 1 Year

•    Revenue

Company Analysis:

1.    Amcor

2.    DS Smith PLC

3.    Pactiv Evergreen Inc.

4.    WestRock Company

5.    Mondi Group Plc

6.    Smurfit Kappa

7.    Mayr-Melnhof Karton AG

8.    Billerud

9.    Stora Enso Oyj

10.  Rengo Co. Ltd.

Milk Powder Market Size And Forecast : Report 2024-2032

Milk Powder Market

The market share of milk powder is expected to grow from US$ 32.19 billion in 2023 to around US$ 44.96 billion by 2030. According to Renub Research, from 2024 to 2030, Milk Powder Market the market is expected to develop at a CAGR of 4.89%. The reason milk powder is consumed all over the world is because it contains a lot of protein, thiamin, and vitamin B12. Furthermore, milk powder is more in demand than regular milk because it has a longer shelf life. Another great and abundant source of protein is skim milk powder.

Growth driver of Global Milk Powder Market

Increasing population and urbanization

Convenient, non-perishable food items are in high demand due to the growing worldwide population and accelerating urbanization, which is driving the global milk powder market’s growth. Fast-paced, condensed urban lifestyles tend to favor food products that are easy to store and have a long shelf life, such as milk powder. It is a useful option for anyone looking for wholesome, easily prepared foods that fit into the hectic lifestyle of cities. The industry is growing because milk powder’s duration and ability to store well—it doesn’t require refrigeration—align well with the urban demand for food alternatives that are both convenient and long-lasting.


By Type

1.    Whole Milk Powder

2.    Skimmed Milk Powder

3.    Dairy Whitener Powder

4.    Buttermilk Powder

5.    Fat-Filled Milk Powder

6.    Other Milk Powder

By Application

1.    Nutritional Food

2.    Infant Formulas

3.    Confectionaries

4.    Baked Sweets

5.    Savories

6.    Others

Asia-Pacific is the Leading Market

The milk powder market is now dominated by Asia-Pacific due to the region’s shifting lifestyle. Moreover, throughout the forecast period, the region’s milk powder market would expand due to the effects of globalization and a rise in the working population. The milk powder sector is predicted to grow significantly in Asia-Pacific as a result of improvements in processing and shipping technologies. The region’s milk powder sector is also anticipated to advance due to reduced transportation expenses and the use of export subsidies. The most significant rural industry, according to the Australian Government’s Department of Agriculture, Fisheries, and Forestry, is the dairy sector. About 35% of Australia’s milk production is exported, and a sizable amount of it is made up of value-added goods such milk powders, ultra-heat-treated milk, and Other similar products.

How shortfall in milk will impact the market?

Concerns about cereal inflation are gradually waning as maximum temperatures haven’t increased significantly enough to reduce wheat yields. Relative comfort is increased by the fact that declining worldwide prices have made imports more viable. Chicago wheat futures are currently selling below $260 per tonne, down from heights of $500 or more reached a year ago. This isn’t the case with milk, though, as the “flush” season (October to March) is when cows and buffaloes often produce more. Dairies use the excess to make butter, ghee, and skimmed milk powder (SMP) for reconstitution in the “lean” months of April through September, when high humidity and heat stress cause cows to produce less.

There’s an easy fix for the shortage of milk. Just three years ago, during the Covid lockout, farmers were paid Rs 18–20 per liter for cow milk and Rs 30-32 for buffalo milk. Dairies were obliged to lower procurement prices as a result of the demand destruction caused by the closure of hotels, restaurants, and candy stores, in addition to the postponement of social events like weddings. In response, farmers reduced the size of their herds, underfed calves, and stopped producing milk in pregnant cows. As a result, the animals are now poor milk producers. Supply has thus decreased, which has been made worse by growing feed prices and fodder shortages. Demand has also increased as economic activity has returned to normal.

Report Report:

Convenience Food Market

Global Flour Market

Ice Cream Market

By Country

North America

  • United States
  • Canada

Europe

  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Switzerland

Asia Pacific

  • Japan
  • China
  • India
  • South Korea
  • Indonesia
  • Australia

Latin America

  • Mexico
  • Brazil
  • Argentina

Middle East & Africa

  • Saudi Arabia
  • United Arab Emirates
  • South Africa

Rest of World

All companies have been covered from 3 viewpoints:

•    Overview

•    Recent Development

•    Revenue

Company Analysis:

1.    Nestle (Switzerland)

2.    Danone

3.    Saputo Inc.,

4.    Arla Foods amba

5.    The Kraft heinz company (U.S)

6.    Royal FrieslandCampina N.V.,

7.    Land O’Lakes, Inc

8.    China Mengniu Dairy Company Limited

9.    Ausnutria Dairy Corporation Ltd. (Netherlands)

About the Company:

 

Renub Research is a Market Research and Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.

 

Contact Us:

Renub Research

Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)

Email: info@renub.com

LinkedIn: https://in.linkedin.com/company/renub-research

Web: www.renub.com

Thank You

Microwave Oven Market Size And Forecast : Report 2024-2032

Microwave Oven Market

The value of the global microwave oven market is expected to increase from US$ 10.91 billion in 2023 to US$ 15.52 billion by 2032. Renub Research projects that the global microwave oven market will expand at a compound annual growth rate (CAGR) of 3.99% from 2024 to 2032 Microwave Oven Market The market for microwave ovens may expand significantly as a result of the growing rate of portable microwave oven usage. Because it can operate like a regular microwave oven and has a longer battery life, the portable model is more affordable and may increase demand for microwave ovens, which will accelerate the expansion of the microwave oven market.

Microwave Oven Market Trends

Household Application is Dominating the Market

The primary factor driving the household application category is the shift in consumer preferences for ready-to-eat and frozen food items due to changing lifestyles and eating habits. The household application category contributed significantly to revenue share in the previous year and is anticipated to grow at a solid CAGR going forward. A major part of new homes comprises working singles who choose to dine out rather than set up their kitchens. This could be detrimental to the market’s household sector. On the other hand, it is anticipated that this tendency would strengthen the quick-service restaurant, cafe, and small eatery cultures, which will benefit the market.

Type:

1.    Grill

2.    Solo

3.    Convection

Application:

1.    Commercial

2.    Household

Structure:

1.    Built-In

2.    Counter Top

Samsung eyes 40 percent share of Indian microwave oven market in the year 2018:

By the end of 2018, consumer electronics giant Samsung has grown its market share to 40% in India’s microwave oven industry thanks to the introduction of a new line of devices. Samsung held a 35.5% market share by value and a 33.3% market share by volume in the nation in 2017. Its market share by volume was 22% in 2013 and by value it was 23.5%.

Samsung wants to increase its market share, and by the end of the first half of 2021, the business will have reached 41.8%. With its innovations specifically tailored to India, the company is solidifying its position in the market and is now gaining traction outside of the well-established metro areas in tier II and tier III locations. The market for microwaves is expected to grow to Rs 900 crore, and there are now 12 to 15 businesses in this industry.

Does microwaving food destroy nutrients?

Microwaving veggies might cause some of their nutritional value to be lost. For instance, it has been discovered that 97% of the flavonoids—plant chemicals that have anti-inflammatory properties—in broccoli are destroyed by microwave cooking. That is a third more harm than boiling would cause.

However, the microwave might have more competition from the conventional oven. A 2020 study compared the nutritional contents of a frozen ready meal cooked in the microwave, with the same dish cooked in a traditional oven. The researchers discovered that the microwaved dinner had “slightly” more vitamin C retained than the other prepared meal. However, the researchers did not offer a possible explanation for this.

Related Report:

Global Soup Market

Global Candle Market

Aluminium Foil Packaging Market

Structure:

1.    Built-In

2.    Counter Top

Power:

1.    Up to 700 W

2.    701 W TO 900 W

3.    901 W TO 1000 W

4.    Above 1000 W

Distribution Channel:

1.    Online

2.    Offline

Country:

North America

  • United States
  • Canada

Europe

  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Belgium
  • Netherlands
  • Turkey

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand

Latin America

  • Brazil
  • Mexico
  • Argentina

Middle East & Africa

  • Saudi Arabia
  • UAE
  • South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview

•    Recent Development

•    Revenue Analysis

Company Analysis:

1.    Illinois Tool Works Inc.

2.    Sharp

3.    LG Electronics

4.    Whirlpool Corporation

5.    GE Appliances

6.    Panasonic Corporation

7.    Samsung Electronics

8.    Midea Group

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Automotive Robotics Market Analysis: Forecast Report 2024-2030

Automotive Robotics Market Report

Renub Research has released a comprehensive report titled “Automotive Robotics Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030,” which provides an in-depth analysis of market percentages and a thorough enterprise evaluation. This report explores competition, geographic distribution, and the growth potential of the Automotive Robotics Market.

Market Overview

The Automotive Robotics Market is projected to expand at a CAGR of 10.86% between 2024 and 2030. Automotive robotics are revolutionizing manufacturing processes in the automobile industry. These advanced robotic systems, encompassing robots and automation technologies, streamline production lines, enhance precision, and improve efficiency. From welding and painting to assembly tasks, robots increase speed and accuracy, resulting in higher-quality vehicles. Collaborative robots, or cobots, work alongside humans, improving safety and flexibility. The integration of artificial intelligence empowers robots to adapt to changing responsibilities and optimize operations. As the automotive sector continues to embrace automation, robotics plays a pivotal role in shaping a more efficient, cost-effective, and technologically advanced future for vehicle production.

Key Drivers of Growth

Continuous improvements in sensor technologies and AI-driven components are enhancing robotic capabilities, contributing to heightened performance in manufacturing processes. Various robotic types, such as articulated, Cartesian, and SCARA robots, cater to specific tasks, ranging from assembly to material handling. Automotive robotics applications extend beyond traditional manufacturing to encompass areas like autonomous vehicles, propelling the market’s evolution. The surge in electric vehicle manufacturing further intensifies demand, while improvements in human-robot collaboration foster safer and more adaptable robotics. This multifaceted growth reflects a market adapting to industry demands, technological advancements, and evolving automotive trends.

Regional Insights

The global automotive robotics market is experiencing robust growth, particularly in the Asia-Pacific region, with China and Japan leading the way due to their thriving automotive industries and automation initiatives. Smart manufacturing and Industry 4.0 are driving significant growth in Europe. The increasing use of robotics is a global trend promoting efficiency and innovation, expected to continue focusing on electric and autonomous vehicles utilizing advanced robotic structures, artificial intelligence, and collaborative robots. These improvements are anticipated to drive dynamic growth in the market, leading to projections of US$ 16.55 billion by 2030.

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Market Segmentation

Component Breakdown

  1. Controller
  2. Robotic Arm
  3. End Effector
  4. Sensors
  5. Drive
  6. Others

Type Breakdown

  1. Articulated Robots
  2. Cylindrical Robots
  3. SCARA Robots
  4. Cartesian Robots
  5. Others

Application Breakdown

  1. Material Handling
  2. Welding
  3. Painting
  4. Cutting
  5. Others

Market Dynamics

Dominance of Robotic Arms

Robotic arms have secured the lion’s share in the automotive robotics market due to their versatility and efficiency. These articulated arms excel in performing intricate tasks such as welding, assembling, and handling materials on vehicle production lines. Their precision, speed, and flexibility significantly enhance production processes. As the automotive industry transitions towards smart manufacturing, the robotic arm’s capacity to integrate seamlessly with advanced technologies like artificial intelligence and automation cements its dominance.

Material Handling Growth

The material handling sector is poised for substantial growth in the automotive robotics market, driven by increasing automation trends. As automotive manufacturing evolves, efficient material handling becomes crucial for streamlining production processes. Robots equipped with advanced sensors and precision enhance logistics, ensuring seamless movements of parts and components, reducing operational costs, and optimizing workflows. With rising demand for electric vehicles and customization options, efficient material handling solutions provided by robotics are integral, making this sector a critical driver of market expansion.

China’s Automotive Robotics Market

China’s automotive robotics market is poised for enormous growth during the forecast period, fueled by the country’s thriving automobile industry and a strong emphasis on automation and technological advancements. Government initiatives further propel business automation to fuel market expansion. As China positions itself as a global leader in electric vehicle manufacturing, the demand for advanced robotic structures in manufacturing, assembly, and material handling is increasing dramatically. With a conducive regulatory environment, accelerated investments, and a solid commitment to technological innovation, China emerges as a focal point for dynamic growth in the automotive robotics sector.

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Global Robotics Market will reach US$ 231.85 Billion by 2030

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Nano Robotics Market is projected to reach US$ 19.86 Billion by 2032

Competitive Landscape

Key players in the global automotive robotics market include:

  • ABB
  • Fanuc Corporation
  • Rockwell Automation Inc.
  • Yaskawa Electric Corporation
  • Kuka AG
  • Kawasaki Heavy Industries, Ltd.
  • Harmonic Drive Systems Inc.
  • Omron Corporation
  • Yamaha Motor Co. Ltd.

About Renub Research

Renub Research is a market research and information analysis company with over 15 years of experience in research, surveys, and consulting. Our research helps companies make informed business decisions regarding strategy, organization, operations, technology, and mergers & acquisitions. To date, we have published over 9000 syndicated reports and completed more than 750 custom research projects. We supply data to EMIS, Bloomberg, and Thomson Reuters, supporting many blue-chip companies with insights across a wide range of markets.

Media Contact

Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Address: 225 Kristie Ln, Roswell, GA 30076
Email: info@renub.com
LinkedIn: Renub Research
Website: www.renub.com

Japan Hotel Market Analysis: Forecast Report 2024-2030

Japan Hotel Market Analysis

The Japan Hotel Market is anticipated to grow significantly, with an expected valuation of US$ 26.50 billion by 2032, up from US$ 23.62 billion in 2023. This growth corresponds to a CAGR of 1.29% projected from 2024 to 2032. The surge in the market is primarily driven by technological innovations, including smart rooms, high-speed internet, and advanced mobile applications, which enhance hotel operations and demonstrate the industry’s commitment to providing cutting-edge services.

Japan Hotel Industry Outlook

The Japanese hotel industry is experiencing notable growth, fueled by a robust tourism sector and increasing global interest in the country’s rich cultural heritage and natural beauty. Major cities like Tokyo, Osaka, and Kyoto attract tourists with their historic landmarks, modern attractions, and vibrant culinary scenes. The Japanese government’s efforts to boost tourism through promotional campaigns and infrastructure investments have further stimulated demand for accommodations. Additionally, Japan’s preparation for and hosting of international events, such as the Tokyo 2020 Olympics, has accelerated the development of new hotels and upgrades of existing facilities.

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The industry also observes a rise in domestic travel as Japanese residents explore their country more frequently. Trends such as the growth of luxury travel, the popularity of unique lodging experiences like ryokan (traditional inns), and the increasing use of technology in hospitality services are shaping the market. Japan’s hotel industry is well-positioned for continued expansion, supported by vital tourism, evolving consumer preferences, and strategic investments aimed at enhancing the quality and diversity of accommodations.

Driving Forces of the Japan Hotel Market

Rising Tourism and Global Events

Japan’s hotel market is significantly driven by its thriving tourism sector and the hosting of major international events. The country’s rich cultural heritage, diverse attractions, and events like the Tokyo 2020 Olympics have increased global interest. This influx of international visitors creates sustained demand for hotel accommodations across various categories, from luxury to budget. Moreover, Japan’s strategic efforts to promote tourism through government campaigns and infrastructure improvements have enhanced its appeal as a global travel destination, contributing to higher occupancy rates and encouraging the development of new hotel properties.

Domestic Travel Growth

A key emerging driver in the Japanese hotel market is the rise in domestic travel. Recent trends indicate a growing preference among Japanese residents to explore their country, influenced by travel restrictions, local tourism promotions, and a desire for unique experiences. This shift has increased hotel demand across regions, not just in major cities. The popularity of staycations and regional travel has prompted hotel operators to enhance their offerings and target local consumers, bolstering market growth. Expanding hotel options in less-visited areas also aids in balancing tourism distribution and supporting regional economies.

Technological Innovations and Luxury Trends

The integration of advanced technologies and the rise of luxury travel are reshaping Japan’s hotel market. Modern amenities, innovative hotel systems, and personalized guest experiences are increasingly sought after, with technology enhancing comfort, convenience, and efficiency. Japanese hotels are adopting innovations such as mobile check-in, AI concierge services, and smart room controls to attract tech-savvy travelers. The growing demand for high-end and boutique hotels reflects a trend toward unique, luxury experiences, driving investment and development in the hospitality sector to cater to affluent travelers.

Tokyo Hotel Market

The Tokyo hotel market is robust, driven by vital tourism and business travel. As Japan’s capital and a major international destination, Tokyo attracts millions of visitors annually. This demand fuels various accommodations, from budget hotels to luxury properties. The city’s significant role in global events and its appeal as a business hub contribute to high occupancy rates. Additionally, the growth of domestic travel and staycations has increased demand for local hotels.

Tokyo’s hotel market also benefits from technological advancements, with many hotels incorporating smart technologies and innovative amenities to enhance guest experiences. Investments in new hotel developments and renovations continue to meet travelers’ evolving needs, ensuring Tokyo’s position as a major global city with a strong and expanding hotel market driven by international tourism and local travel trends.

Japan Hotel Company Analysis

Key players in the Japan hotel industry include:

  • Marriott International Inc.
  • Hoshino Resorts REIT Inc.
  • APA Hotels & Resorts
  • JR Hotel Group
  • MYSTAYS Hotel Group
  • Okura Nikko Hotel Management Co. Ltd.
  • Prince Hotels & Resorts
  • Route Inn Japan Co. Ltd.

Japan Hotel Company News

  • June 2022: Hyatt expanded its portfolio with the debut of the Fuji Speedway Hotel in Shizuoka, the first establishment in Japan from the Unbound Collection by Hyatt. The hotel features 120 rooms, including 21 suites, with views of Mount Fuji or the Fuji Speedway racetrack from private balconies.
  • July 2022: The UK-based hotel chain YOTEL announced the opening of its first hotel in Japan, situated in Tokyo’s Ginza district, featuring fully integrated technologies, motorized SmartBeds, and robotic staff characteristic of the brand.

Market Segmentation

  • Type:
    1. Economy
    2. Midscale
    3. Upscale
    4. Luxury
  • Business Model:
    1. Chain
    2. Independent
  • Sales Channel:
    1. Offline
    2. Online
  • Age Group:
    1. 18-24 years
    2. 25-34 years
    3. 35-44 years
    4. 45-54 years
    5. 55-64 years
  • Star Rating:
    1. 1 Star
    2. 2 Star
    3. 3 Star
    4. 4 Star
    5. 5 Star
  • Gender:
    1. Male
    2. Female
  • Region:
    1. Tokyo
    2. Osaka
    3. Fukuoka
    4. Hokkaido
    5. Kyoto
    6. Kanagawa
    7. Okinawa
    8. Other

Key Player Analysis

All key players have been covered from three perspectives:

  • Business Overview
  • Key Persons
  • Recent Developments & Strategies

Key Players:

  • Marriott International Inc.
  • Hoshino Resorts REIT Inc.
  • APA Hotels & Resorts
  • JR Hotel Group
  • MYSTAYS Hotel Group
  • Okura Nikko Hotel Management Co. Ltd.
  • Prince Hotels & Resorts
  • Route Inn Japan Co. Ltd.

FAQs

  1. What is the current size of the Japan hotel industry?
  2. What is the projected growth rate of the Japan hotel industry?
  3. What are the key factors driving the growth of the Japan hotel industry?
  4. What is the expected market size by 2032?
  5. Who are the key players in the Japan hotel sector?
  6. Which region holds the largest market share in the Japan hotel industry?

About Renub Research

Renub Research is a market research and information analysis company with over 15 years of experience. We assist companies in making informed business decisions regarding strategy, organization, operations, technology, and mergers & acquisitions. To date, we have published over 9000 syndicated reports and completed more than 750 custom research projects. Our data supports many blue-chip companies, including EMIS, Bloomberg, and Thomson Reuters.

Media Contact

Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Address: 225 Kristie Ln, Roswell, GA 30076
Email: info@renub.com
LinkedIn: Renub Research
Website: www.renub.com