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Figure 02: Global Diabetic Dietary Supplements Market Volume ('000 units) & Y-o-Y Growth (%) Analysis, 2022-2028

Figure 03: Diabetic Dietary Supplements, Pricing Analysis per unit (US$), in 2022

Figure 04: Diabetic Dietary Supplements, Pricing Forecast per unit (US$), in 2028

Figure 05: Global Diabetic Dietary Supplements Market Value Analysis (US$ Mn), 2019-2021

Figure 06: Global Diabetic Dietary Supplements Market Size (US$ Mn) & Y-o-Y Growth (%) Analysis, 2022-2028

Figure 07: Global Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 08: Global Diabetic Dietary Supplements Market Y-o-Y Analysis (%) by Type, 2022-2028

Figure 09: Global Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 10: Global Diabetic Dietary Supplements Market Y-o-Y Analysis (%) by Diabetes Type, 2022-2028

Figure 11: Global Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 12: Global Diabetic Dietary Supplements Market Y-o-Y Analysis (%) by Dosage Form, 2022-2028

Figure 13: Global Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 14: Global Diabetic Dietary Supplements Market Y-o-Y Analysis (%) by Distribution Channel, 2022-2028

Figure 15: Global Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Region, 2022 & 2028

Figure 16: Global Diabetic Dietary Supplements Market Y-o-Y Growth (%) by Region, 2022-2028

Figure 17: North America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 18: North America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 19: North America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 20: North America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 21: North America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Figure 22: Latin America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 23: Latin America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 24: Latin America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 25: Latin America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 26: Latin America Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Figure 27: Western Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 28: Western Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 29: Western Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 30: Western Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 31: Western Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Figure 32: Eastern Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 33: Eastern Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 34: Eastern Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 35: Eastern Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 36: Eastern Europe Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Figure 37: Asia Pacific Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 38: Asia Pacific Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 39: Asia Pacific Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 40: Asia Pacific Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 41: Asia Pacific Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Figure 42: Middle East & Africa Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Type, 2022 & 2028

Figure 43: Middle East & Africa Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Diabetes Type, 2022 & 2028

Figure 44: Middle East & Africa Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Dosage Form, 2022 & 2028

Figure 45: Middle East & Africa Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Distribution Channel, 2022 & 2028

Figure 46: Middle East & Africa Diabetic Dietary Supplements Market Size and Market Share Analysis (%) by Country, 2022 & 2028

Table 1: Global Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 2: Global Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 3: Global Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 4: Global Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 5: Global Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 6: Global Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 7: Global Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 8: Global Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 9: Global Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Region

Table 10: Global Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Region

Table 11: North America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 12: North America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 13: North America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 14: North America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 15: North America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 16: North America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 17: North America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 18: North America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 19: North America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 20: North America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

Table 21: Latin America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 22: Latin America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 23: Latin America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 24: Latin America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 25: Latin America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 26: Latin America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 27: Latin America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 28: Latin America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 29: Latin America Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 30: Latin America Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

Table 31: Western Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 32: Western Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 33: Western Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 34: Western Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 35: Western Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 36: Western Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 37: Western Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 38: Western Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 39: Western Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 40: Western Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

Table 41: Eastern Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 42: Eastern Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 43: Eastern Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 44: Eastern Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 45: Eastern Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 46: Eastern Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 47: Eastern Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 48: Eastern Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 49: Eastern Europe Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 50: Eastern Europe Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

Table 51: Asia Pacific Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 52: Asia Pacific Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 53: Asia Pacific Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 54: Asia Pacific Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 55: Asia Pacific Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 56: Asia Pacific Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 57: Asia Pacific Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 58: Asia Pacific Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 59: Asia Pacific Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 60: Asia Pacific Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

Table 61: Middle East & Africa Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type

Table 62: Middle East & Africa Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Type

Table 63: Middle East & Africa Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Diabetes Type

Table 64: Middle East & Africa Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Diabetes Type

Table 65: Middle East & Africa Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Dosage Form

Table 66: Middle East & Africa Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Dosage Form

Table 67: Middle East & Africa Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Distribution Channel

Table 68: Middle East & Africa Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Distribution Channel

Table 69: Middle East & Africa Diabetic Dietary Supplements Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country

Table 70: Middle East & Africa Diabetic Dietary Supplements Market Volume ('000 units) Analysis and Forecast 2019-2028, by Country

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Global Diabetic Dietary Supplements Market Analysis and Forecast 2019-2028 | RationalStat Store

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Figure 02: Global Diabetic Dietary Supplements Market Volume ('000 units) & Y-o-Y Growth (%) Analysis, 2022-2028 Figure 03: Diabetic Dietary Supplements, Pricing Analysis per unit (US$), in 2022 Figure 04: Diabetic Dietary Supplements, Pricing Forecast per unit (US$), in 2028 Figure 05: Global Diabetic Dietary Supplements Market Value Analysis (US$

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Largest Green Hydrogen Plants in the World

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Largest Green Hydrogen Plants in the World

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The global green hydrogen market is anticipated to witness significant revenue growth over the upcoming years owing to the construction of huge green hydrogen power plants all over the globe and growing awareness about the urgency to reduce carbon emissions. According to the RationalStat analysis, the global green hydrogen market is estimated to register a CAGR of over 55% during 2021-2028. China is expected to lead the global hydrogen market space. China is the largest producer of methanol, ammonia, and steel, three subsectors in which low-carbon hydrogen use could play a significant role in the future. Beyond its traditional production and use in industry, low-carbon green hydrogen adoption is in the early stages in China, with the first steps for demonstrating new applications.

China is building the largest Green Hydrogen Plant in the World

China is constructing the world's largest green hydrogen Plant as part of its efforts to reduce carbon emissions. The plant is being constructed in Xinjiang's northwest by Sinopec in China. When the plant's development is completed, it will produce 20,000 tons of green hydrogen a year while avoiding 485,000 tons of carbon dioxide emissions. The cost to build this plant, which would have solar panels spanning an area larger than 630 hectares (1,560 acres), or more than 900 soccer fields, would be about US$ 470.8 million. The 300 MW photovoltaic plant, the hydrogen production plant using water electrolysis, the hydrogen storage tanks, and the hydrogen pipeline will all provide energy for the Green Hydrogen facility, which is slated to debut in June 2023.

The chemical industry and refining account for the majority of China's annual hydrogen consumption. China produces about 25 million tons of hydrogen, accounting for nearly 25% of global production. Domestic requirement for hydrogen production is met by domestic fossil fuel production, of which coal accounts for 60% and natural gas for 25%. The remaining 15% comprises of hydrogen waste from petrochemical plants and refineries.

Hydrogen fuel will play a significant role in the transition to decarbonization. But for hydrogen to meet the goals of reducing carbon emissions, it must be generated from renewable energy, rather than polluting fossil fuels. Setting up solar panels to produce green hydrogen is a key parameter. Solar Panels help in photovoltaic-electrolysis which also lowers the cost of green hydrogen produced (currently which is 18 yuan or US$ 2.67 per kilogram). The Xinjiang region is rich in sunshine resources, making it an ideal location to investigate the production of green hydrogen. This applies to all of China's land, not just Xinjiang because it has a wealth of renewable energy resources that are frequently spread across broad, sparsely populated areas that are removed from dense industrial areas.

Other geographical areas: Momentum for green hydrogen is growing as more nations join

Air Liquide launched the largest PEM electrolysis facility in the world in Bécancour in January 2021. The project increased the site's capacity to produce hydrogen by double and includes a 20 MW electrolyzer that uses hydropower. Several electrolysis projects totaling up to 100 MW are now in various stages of development; if all of them are completed, the installed electrolysis capacity for dedicated hydrogen generation might be close to 120 MW. Electrolysis capacity in Canada reaches more than close to 4 GW by 2030, 40 times more than the capacity currently under development.

With four operative projects capturing and storing around 3 Mt CO2/yr, Canada is the second-largest producer of hydrogen from fossil fuels with CCUS (carbon capture, utilization, and storage). Another four projects are under development, aiming to capture an additional 5.0 Mt CO2/yr (1.8 Mt CO2/yr if early-stage projects are included). If all are realized, total hydrogen production from fossil fuels with CCUS could reach close to 1 Mt H2/yr in 2030 (0.2 Mt H2/yr with early-development projects) - around 70% higher than in the Announced Pledges Scenario.

In 2020, ENAEX and Engie announced the HyEx project to deploy up to 780 MW of electrolysis by 2030 to produce ammonia in Antofagasta, starting with a pilot of 50 MW of electrolyzer capacity to be implemented by 2024. ENAEX, a company that produces explosives for the mining sector, imports 350-kilo tons of fossil fuel-based ammonia annually, subject to high price volatility. The company, therefore, aims to secure and internalize its ammonia feedstock supply while also reducing its CO2 emissions.

Latin American countries consumed 3.5 million tons of H2 in 2020, of which 2.5 million tons of H2 was used in industry and the rest in refining. The vast majority of the production (90%) was based on natural gas, with by-product hydrogen from refineries making up the rest. A combination of factors has spurred an increased interest in hydrogen in the region. The major economies (Argentina, Brazil, Chile, Colombia, and Mexico) already produce large volumes of unabated fossil fuels for use in oil refineries and the chemical and iron and steel industries, and Trinidad and Tobago are among the world's largest producers of ammonia and methanol. Latin America also has one of the world's highest shares of renewables in electricity generation, with Costa Rica, Paraguay, and Uruguay producing practically all their electricity from renewables.

The government published its Green Hydrogen Strategy in November 2020 to become the top destination in Latin America for renewable hydrogen investment by 2025 and one of the world's largest exporters of hydrogen-based fuels by 2030. The strategy also targets 25 GW of electrolysis operational or under development by 2030.

Western Europe (Germany)

Uniper, a subsidiary of Finnish utility Fortum, is developing an import terminal at Wilhelmshaven capable of converting green ammonia back into hydrogen, and also plans to build an electrolysis plant at the site to produce green H ₂ itself with a capacity of up to 1GW. In this project, Uniper will purchase 500,000 tons of Green Ammonia from EverWind Fuels Company and will convert it back into green hydrogen. Backed by the support from the German government, this partnership will prove successful in the forthcoming years.

The German hydrogen strategy aims for an electrolyzer capacity of 5 GW in 2030 and 10 GW in 2040, which by 2030 will produce approximately 14 TWh (terawatt per hour) of hydrogen. To achieve this, also as part of an economic stimulus package, funding of US$ 9 billion was announced to realize the hydrogen strategy. Of this, US$ 7 billion is intended for domestic spending, while US$ 2 billion is earmarked for international partnerships. To reduce operational costs and thereby electrolytic hydrogen costs, it is proposed to create an exemption from the Renewable Energy Act surcharge111 on electricity consumed by electrolyzer installations built in 2020- 2030, over 20 years.

The global drive towards decarbonization is shifting Russian policy on renewable energy. For years, Russian policymakers claimed that decarbonization was a problem for later, with no long-term goals for expanding into renewable energy. Despite this, Russia has big ambitions for hydrogen production, seeing it as the lucrative clean energy of the future.

The country aims to have 20% of the green hydrogen market by 2030. It believes green hydrogen is the clean energy source that will replace the high carbon industry and wants to be a leader in the market. By 2035, the government expects to export 7 million tons of green hydrogen.

The global green hydrogen market players will likely be receptive to future partnerships with Russian businesses. For example, Enel - a large Italian manufacturer and distributor of electricity and gas - set up an office in Saint Petersburg in June 2021 intending to establish a green hydrogen project in Russia

As Europe - the largest importer of Russian oil and gas - switches to green hydrogen, Russia will adapt to maintain its position as the largest energy exporter to one of the world's biggest markets.

Escalating hydrogen production will be a long-term ambition for Russia, with no immediate signs that it is slowing oil and gas production. The petrostate needs to align with the industry shift towards carbon reduction if it wants to compete with the world's largest economies. It has the infrastructure and natural resources to tap into the escalating hydrogen market and mitigate the negative economic impact of decarbonization.

Middle East and Africa (Oman)

Oman is planning to build one of the largest green hydrogen plants in the world in a move to make the oil-producing nation a leader in renewable energy technology. Construction is scheduled to start in 2028 in Al Wusta governorate on the Arabian Sea. It will be built in stages, to be at full capacity by 2038, powered by 25 gigawatts of wind and solar energy.

The consortium of companies behind the US$ 30 Billion project includes the state-owned oil and gas company OQ, the Hong Kong-based renewable hydrogen developer InterContinental Energy and the Kuwait-based energy investor Enertech.

Oman currently relies heavily on fossil fuels, generating up to 85% of its GDP from oil and gas, but its fossil fuel reserves are dwindling and becoming increasingly costly to extract. In December 2020, the country published its Oman Vision 2040 strategy, a plan to diversify the economy away from fossil fuels and increase investment in renewables.

Oman's proposed plant is just one in a slate of green hydrogen mega projects planned globally. Eastman said InterContinental Energy has several other plants in the works, including a 26GW wind and solar green hydrogen plant in the Pilbara, Western Australia. This US$ 36 Billion (£25.5bn) plant would be the world's biggest energy project if constructed. The first phase is expected to be online by 2028.

Growth Opportunities Ahead

According to National Energy Administration, hydrogen fuel batteries have advantages when used in vehicles due to their high performance and long operating range. One kilogram of green hydrogen could produce the same amount of heat as 4 liters (1 gallon) of petrol and the cost is expected to fall as it becomes more widely used. Thanks to the increasing awareness, many countries are constructing green hydrogen plants that will soon replace "grey hydrogen" which uses fossil fuels instead of renewable ones.

Infrastructure growth will enable manufacturers to increase their capacity and reach, which will help them cut the cost of green hydrogen. Opportunities exist to further reduce costs by repurposing oil and gas assets, for instance by using platforms for electrolyzer installations or oil and gas pipelines for hydrogen transport.

Moreover, the involvement of the respective countries' governments is very vital for developing an ecosystem that accepts green hydrogen as an alternative fuel. Governments throughout the world, are constructing public infrastructure and installing electric public transportation systems. Several demonstration projects for using hydrogen-based fuels in rail, shipping, and aviation are already under development and are expected to create hydrogen demand.

To speak to our industry consultant for a discussion, Speak to the Analyst

RationalStat delivers essential information and comprehensive insights so you can make decisions effectively.

Explore our report on Green Hydrogen Market: https://store.rationalstat.com/store/green-hydrogen-market-potential-market-size-and-global-outlook/

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Largest Green Hydrogen Plants in the World | RationalStat

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The global green hydrogen market is anticipated to witness significant revenue growth over the upcoming years owing to the construction of huge green hydrogen power plants all over the globe and growing awareness about the urgency to reduce carbon emissions. According to the RationalStat analysis, the global green hydrogen market is estimated to register a CAGR of...

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Green cement is an environmentally friendly cement that uses a carbon negative manufacturing process. The raw materials used to produce green cement mostly include discarded industrial waste. In addition, since green cement consists mainly of industrial waste, green cement is more economical than conventional cement and can be easily hybridized. The global green cement market is expected to witness a robust growth of more than 10% during the forecast period 2022-2028.

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Global Green Cement Market: Investment & Growth Opportunity Analysis, 2019-2028 | RationalStat Store

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Supportive government initiatives for green building fueling the demand for the green cement

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Millions of people have been affected by the COVID-19 outbreak worldwide. Pandemic outbreaks have increased the need for therapeutic solutions. Treatment options for COVID-19 include antivirals, monoclonal antibodies, and kinase inhibitors.  In recent years, oral antivirals have experienced an increase in sales due to the spike in demand for biological drugs as a treatment for Coronavirus.

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COVID-19 Oral Medicine Market: Investment & Growth Opportunity Analysis, 2019-2028 | RationalStat Store

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Increasing R&D efforts by the public and private stakeholders are driving the market growth

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As a result of the growing number of smart cities, lifestyle changes, urbanization, technological developments (including cloud computing, artificial intelligence, and machine learning), and growing industry vertical demands, the satellite data services market is expected to grow rapidly. During the forecast period, the global satellite data services market is expected to grow at a CAGR of around 24%.

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Global Spending Analysis on Satellite Data Services Market | RationalStat Store

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The proliferation of AI and Machine Learning is creating opportunities for the satellite data services market to grow

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Insulin injections are required regularly by people with type 1 diabetes. Demand for insulin pens is driven by an increasing number of people with type 1 diabetes. It is forecast that the global insulin pen market will grow by 7.3% between 2022 and 2028

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Global Insulin Pen Market Analysis and Forecast 2019-2028 | RationalStat Store

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The high prevalence of diabetes is increasing the demand for insulin pens globally

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Over the forecast period 2022-2028, the global USB Type-C market is expected to grow at an impressive 22% CAGR. Consumer electronics are on the rise, remote learning and working from home are on the rise, technological advancements and innovations are on the rise, and rapid urbanization is driving the growth of the USB Type-C market.

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Global USB Type-C Market Analysis and Forecast 2019-2028 | RationalStat Store

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Increasing adoption of USB Type-C in various consumer devices is driving the market growth

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Global Dairy Alternatives Market: Investment & Growth Opportunity Analysis, 2019-2028 | RationalStat Store

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Increasing number of people with lactose intolerance and milk allergies is augmenting the market growth

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Global hydrogel dressing sales are growing due to a growing prevalence of chronic wounds, advancements in evidence-based wound care, and a substantial increase in the diabetic population.

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Global Hydrogel Dressing Market Analysis and Forecast 2019-2028 | RationalStat Store

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A significant increase in the diabetic population and technological advancement is driving the hydrogel dressing market

# data[].attributes.body
O-RAN (Open RAN) refers to an industry-wide standard for radio access network (RAN) interfaces that allow for interoperation among vendors' equipment and lower costs.  The main purpose of open RAN is to have an interoperability standard for RAN elements including non-proprietary white box hardware and software from different vendors. Network operators that opt for RAN elements with standard interfaces can avoid being stuck with one vendor’s proprietary hardware and software.

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1.       Market Introduction

1.1.    Scope of Study

1.2.    Problem Statement

1.3.    Market Segmentation

2.       Assumptions and Acronyms

3.       Executive Summary

3.1.    Global Market in 2022

3.2.    Analyst Insights & Recommendations

3.3.    Growth Opportunities and Key Strategies

3.4.    Supply-side and Demand-side Trends

4.       Research Methodology

5.       Analysis of COVID-19 Impact and Road Ahead

5.1.    Impact on Market Strategy

5.2.    Impact on Operations and Supply Chain

5.3.    Impact on the Investments in the Telecom Sector

5.4.    Impact on the 5G Roll-Out Plans

6.       Market Indicators and Background

6.1.    Macro-Economic Factors

6.1.1. Global Population Overview and Forecast

6.1.2. Per Capita Income Analysis in Select Countries

6.1.3. Global Network Connectivity Overview and Forecast

6.2.    Forecasting Factors

Robust assessment of various factors including industrial performance, industry players’ expenditures, economic conditions, among others

6.3.    Supply Chain & Value Chain Analysis

6.3.1. O-Ran Manufacturers

6.3.2. Key End Uses

6.4.    Industry SWOT Analysis

6.5.    PESTLE Analysis

6.6.    Porter’s Five Forces Analysis

7.       Government Laws and Industry Regulations

8.       Global and Regional Market Dynamics

8.1.    Drivers

8.2.    Restraints

8.3.    Trends

8.4.    Opportunities

9.       Global O-Ran Market: Key Investment Analysis

9.1.    By Industry Players

9.2.    By Public Entities

9.3.    By Region

9.4.    M&A Activities

Robust assessment of major investments made by various industry players along with key application areas, technological assessment, and key end-use sector

10.   Pricing Analysis

10.1.  By Connectivity Technology

10.1.1.    4G LTE

10.1.2.    5G

10.2.  By Region

10.2.1.    North America

10.2.2.    Western Europe

10.2.3.    Eastern Europe

10.2.4.    Asia Pacific

10.2.5.    Latin America

10.2.6.    Middle East & Africa

11.   Parent Market Overview:

11.1.                      Global Telecom Market

11.2.                      Global 5G Infrastructure Market

12.   Segmental Analysis

12.1.                      Global O-Ran Market by Component

12.1.1.    Segment Overview

12.1.1.1.           Hardware

12.1.1.1.1.                 Radio Unit

12.1.1.1.2.                 Base Band Unit

12.1.1.1.3.                 Antennas

12.1.1.1.4.                 Others (Small Cells etc.)

12.1.1.2.           Software

12.1.1.3.           Services

12.2.                      Global O-Ran Market by Connectivity Technology

12.2.1.    Segment Overview

12.2.1.1.           4G LTE

12.2.1.2.           5G

12.3.                      Global O-Ran Market by Deployment Location

12.3.1.    Segment Overview

12.3.1.1.           Urban

12.3.1.2.           Rural

12.4.                      Global O-Ran Market by End Use

12.4.1.    Segment Overview

12.4.1.1.           Public Infrastructure

12.4.1.2.           Automotive

12.4.1.3.           Industrial

12.4.1.4.           Healthcare

12.4.1.5.           Aerospace & Defense

12.4.1.6.           Media & Entertainment

12.4.1.7.           Others (BFSI etc.)

12.5.                      Global O-Ran Market by Region

12.5.1.    North America

12.5.2.    Latin America

12.5.3.    Western Europe

12.5.4.    Eastern Europe

12.5.5.    Asia Pacific

12.5.6.    Middle East & Africa

13.   Regional Analysis

13.1.       North America O-Ran Market Analysis and Forecast 2019-2028

13.1.1.    Regional Market Overview and Key Takeaways

13.1.2.    North America O-Ran Market by Component

13.1.3.    North America O-Ran Market by Connectivity Technology

13.1.4.    North America O-Ran Market by Deployment Location

13.1.5.    North America O-Ran Market by End Use

13.1.6.    North America O-Ran Market by Country

13.1.6.1.           US

13.1.6.2.           Canada

13.2.       Latin America O-Ran Market Analysis and Forecast 2019-2028

13.2.1.    Regional Market Overview and Key Takeaways

13.2.2.    Latin America O-Ran Market by Component

13.2.3.    Latin America O-Ran Market by Connectivity Technology

13.2.4.    Latin America O-Ran Market by Deployment Location

13.2.5.    Latin America O-Ran Market by End Use

13.2.6.    Latin America O-Ran Market by Country

13.2.6.1.           Brazil

13.2.6.2.           Mexico

13.2.6.3.           Rest of Latin America

13.3.       Western Europe O-Ran Market Analysis and Forecast 2019-2028

13.3.1.    Regional Market Overview and Key Takeaways

13.3.2.    Western Europe O-Ran Market by Component

13.3.3.    Western Europe O-Ran Market by Connectivity Technology

13.3.4.    Western Europe O-Ran Market by Deployment Location

13.3.5.    Western Europe O-Ran Market by End Use

13.3.6.    Western Europe O-Ran Market by Country

13.3.6.1.           Germany

13.3.6.2.           UK

13.3.6.3.           France

13.3.6.4.           Spain

13.3.6.5.           Italy

13.3.6.6.           Benelux

13.3.6.7.           Nordic

13.3.6.8.           Rest of Western Europe

13.4.       Eastern Europe O-Ran Market Analysis and Forecast 2019-2028

13.4.1.    Regional Market Overview and Key Takeaways

13.4.2.    Eastern Europe O-Ran Market by Component

13.4.3.    Eastern Europe O-Ran Market by Connectivity Technology

13.4.4.    Eastern Europe O-Ran Market by Deployment Location

13.4.5.    Eastern Europe O-Ran Market by End Use

13.4.6.    Eastern Europe O-Ran Market by Country

13.4.6.1.           Russia

13.4.6.2.           Poland

13.4.6.3.           Rest of Eastern Europe

13.5.       Asia Pacific O-Ran Market Analysis and Forecast 2019-2028

13.5.1.    Regional Market Overview and Key Takeaways

13.5.2.    Asia Pacific O-Ran Market by Component

13.5.3.    Asia Pacific O-Ran Market by Connectivity Technology

13.5.4.    Asia Pacific O-Ran Market by Deployment Location

13.5.5.    Asia Pacific O-Ran Market by End Use

13.5.6.    Asia Pacific O-Ran Market by Country

13.5.6.1.           China

13.5.6.2.           Japan

13.5.6.3.           India

13.5.6.4.           South Korea

13.5.6.5.           Australia

13.5.6.6.           ASEAN

13.5.6.7.           Rest of Asia-Pacific

13.6.       Middle East & Africa O-Ran Market Analysis and Forecast 2019-2028

13.6.1.    Regional Market Overview and Key Takeaways

13.6.2.    Middle East & Africa O-Ran Market by Component

13.6.3.    Middle East & Africa O-Ran Market by Connectivity Technology

13.6.4.    Middle East & Africa O-Ran Market by Deployment Location

13.6.5.    Middle East & Africa O-Ran Market by End Use

13.6.6.    Middle East & Africa O-Ran Market by Country

13.6.6.1.           GCC

13.6.6.2.           South Africa

13.6.6.3.           Turkey

13.6.6.4.           Rest of the Middle East & Africa

14.   Competitive Landscape

14.1.  Competition Dashboard

14.1.1.    Global and Regional Market Share Analysis

14.1.2.    Market Structure

14.2.       Competitive Benchmarking

14.3.       Key Strategy Analysis

14.4.       Company Profiles

14.4.1.    Nokia Corp.

14.4.1.1.           Company Overview

14.4.1.2.           Product/Service Offerings

14.4.1.3.           Key Financials

14.4.1.4.           Recent Developments

14.4.2.    Telefonaktiebolaget LM Ericsson

14.4.2.1.           Company Overview

14.4.2.2.           Product/Service Offerings

14.4.2.3.           Financials

14.4.2.4.           Recent Developments

14.4.3.    Qualcomm Inc.

14.4.3.1.           Company Overview

14.4.3.2.           Product/Service Offerings

14.4.3.3.           Financials

14.4.3.4.           Recent Developments

14.4.4.    Huawei Technologies Co. Ltd.

14.4.4.1.           Company Overview

14.4.4.2.           Product/Service Offerings

14.4.4.3.           Financials

14.4.4.4.           Recent Developments

14.4.5.    Mavenir Systems Inc.

14.4.5.1.           Company Overview

14.4.5.2.           Product/Service Offerings

14.4.5.3.           Financials

14.4.5.4.           Recent Developments

14.4.6.    NTT DoCoMo Inc.

14.4.6.1.           Company Overview

14.4.6.2.           Product/Service Offerings

14.4.6.3.           Financials

14.4.6.4.           Recent Developments

14.4.7.    Sterlite Technologies Limited

14.4.7.1.           Company Overview

14.4.7.2.           Product/Service Offerings

14.4.7.3.           Financials

14.4.7.4.           Recent Developments

14.4.8.    Radisys Corp.

14.4.8.1.           Company Overview

14.4.8.2.           Product/Service Offerings

14.4.8.3.           Financials

14.4.8.4.           Recent Developments

14.4.9.    Parallel Wireless Inc.

14.4.9.1.           Company Overview

14.4.9.2.           Product/Service Offerings

14.4.9.3.           Financials

14.4.9.4.           Recent Developments

14.4.10.    Casa Systems Inc.

14.4.10.1.       Company Overview

14.4.10.2.       Product/Service Offerings

14.4.10.3.       Financials

14.4.10.4.       Recent Developments

14.4.11.    VIAVI Solutions Inc.

14.4.11.1.       Company Overview

14.4.11.2.       Product/Service Offerings

14.4.11.3.       Financials

14.4.11.4.       Recent Developments

14.4.12.    Fujitsu Ltd.

14.4.12.1.       Company Overview

14.4.12.2.       Product/Service Offerings

14.4.12.3.       Financials

14.4.12.4.       Recent Developments

14.4.13.    NXP Semiconductors

14.4.13.1.       Company Overview

14.4.13.2.       Product/Service Offerings

14.4.13.3.       Financials

14.4.13.4.       Recent Developments

A comprehensive list of O-RAN manufacturers will be provided along with geographical reach, employee count, revenue, product capacities, and their capabilities

15.   Disclaimer

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O-RAN Market: Trends, Forecast, and Potential Market Size till 2028

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The O-RAN or Open Radio Access Network market size in 2021 was around US$ 450 million and will continue to increase in the coming years.

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A regulatory technology is an application of technology to manage regulatory processes in the financial sector. The main functions of regtech are regulatory monitoring, reporting, and compliance. In spite of the fact that it is still a relatively new field, RegTech (Regulatory Technology) is growing rapidly.Regtech is a community of tech companies that solve challenges arising from a technology-driven economy through automation.

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1.       Market Introduction

1.1.    Scope of Study

1.2.    Problem Statement

1.3.    Market Segmentation

2.       Assumptions and Acronyms

3.       Executive Summary

3.1.    Global Market in 2022

3.2.    Analyst Insights & Recommendations

3.3.    Growth Opportunities and Key Strategies

3.4.    Supply-side and Demand-side Trends

4.       Research Methodology

5.       Analysis of COVID-19 Impact and Road Ahead

6.       Market Indicators and Background

6.1.    Macro-Economic Factors

6.2.    Forecasting Factors

Robust assessment of various factors including industrial performance, industry players’ expenditures, economic conditions, among others

6.3.    Supply Chain & Value Chain Analysis

6.4.    Industry SWOT Analysis

6.5.    PESTLE Analysis

6.6.    Porter’s Five Forces Analysis

7.       Government Laws and Industry Regulations

8.       Global and Regional Market Dynamics

8.1.    Drivers

8.2.    Restraints

8.3.    Trends

8.4.    Opportunities

9.       RegTech Market: Key Investment Analysis

9.1.    By RegTech Solution Providers

9.2.    By Deployment Mode

9.3.    By Application

9.4.    By Region

9.5.    By End User

9.6.    M&A Activities

Robust assessment of major investments made by various industry players along with key application areas, technological assessment, and key end-use sector

10.   Pricing Analysis

10.1.  By Region

10.1.1.    North America

10.1.2.    Western Europe

10.1.3.    Eastern Europe

10.1.4.    Asia Pacific

10.1.5.    Latin America

10.1.6.    Middle East & Africa

11.   Parent Market Overview: Global Information & Communication Technology (ICT) Market

12.   Segmental Analysis

12.1.                      RegTech Market by Component

12.1.1.    Segment Overview

12.1.1.1.           Software

12.1.1.2.           Services

12.2.                      RegTech Market by Deployment Mode

12.2.1.    Segment Overview

12.2.1.1.           On-premises

12.2.1.2.           Cloud

12.3.                      RegTech Market by Organization Size

12.3.1.    Segment Overview

12.3.1.1.           Large Enterprises

12.3.1.2.           Small & Medium Enterprises (SMEs)

12.4.                      RegTech Market by Application

12.4.1.    Segment Overview

12.4.1.1.          Risk & Compliance Management

12.4.1.2.          Identity Management

12.4.1.3.          Regulatory Reporting

12.4.1.4.          Anti-money Laundering (AML) and Fraud Management

12.4.1.5.          Regulatory Intelligence

12.5.                      RegTech Market by End User

12.5.1.    Segment Overview

12.5.1.1.           Banking, Financial Services and Insurance (BFSI)

12.5.1.2.           IT & Telecom

12.5.1.3.           Energy & Utilities

12.5.1.4.           Others (Government & Public Sector)

12.6.                      RegTech Market by Region

12.6.1.    North America

12.6.2.    Latin America

12.6.3.    Western Europe

12.6.4.    Eastern Europe

12.6.5.    Asia Pacific

12.6.6.    Middle East & Africa

13.   Regional Analysis

13.1.       North America RegTech Market Analysis and Forecast 2019-2028

13.1.1.    Regional Market Overview and Key Takeaways

13.1.2.    North America RegTech Market by Component

13.1.3.    North America RegTech Market by Deployment Mode

13.1.4.    North America RegTech Market by Organization Size

13.1.5.    North America RegTech Market by Application

13.1.6.    North America RegTech Market by End User

13.1.7.    North America RegTech Market by Country

13.1.7.1.           US

13.1.7.2.           Canada

13.2.       Latin America RegTech Market Analysis and Forecast 2019-2028

13.2.1.    Regional Market Overview and Key Takeaways

13.2.2.    Latin America RegTech Market by Component

13.2.3.    Latin America RegTech Market by Deployment Mode

13.2.4.    Latin America RegTech Market by Organization Size

13.2.5.    Latin America RegTech Market by Application

13.2.6.    Latin America RegTech Market by End User

13.2.7.    Latin America RegTech Market by Country

13.2.7.1.           Brazil

13.2.7.2.           Mexico

13.2.7.3.           Rest of Latin America

13.3.       Western Europe RegTech Market Analysis and Forecast 2019-2028

13.3.1.    Regional Market Overview and Key Takeaways

13.3.2.    Western Europe RegTech Market by Component

13.3.3.    Western Europe RegTech Market by Deployment Mode

13.3.4.    Western Europe RegTech Market by Organization Size

13.3.5.    Western Europe RegTech Market by Application

13.3.6.    Western Europe RegTech Market by End User

13.3.7.    Western Europe RegTech Market by Country

13.3.7.1.           Germany

13.3.7.2.           UK

13.3.7.3.           France

13.3.7.4.           Spain

13.3.7.5.           Italy

13.3.7.6.           Benelux

13.3.7.7.           Nordic

13.3.7.8.           Rest of Western Europe

13.4.       Eastern Europe RegTech Market Analysis and Forecast 2019-2028

13.4.1.    Regional Market Overview and Key Takeaways

13.4.2.    Eastern Europe RegTech Market by Component

13.4.3.    Eastern Europe RegTech Market by Deployment Mode

13.4.4.    Eastern Europe RegTech Market by Organization Size

13.4.5.    Eastern Europe RegTech Market by Application

13.4.6.    Eastern Europe RegTech Market by End User

13.4.7.    Eastern Europe RegTech Market by Country

13.4.7.1.           Russia

13.4.7.2.           Poland

13.4.7.3.           Rest of Eastern Europe

13.5.       Asia Pacific RegTech Market Analysis and Forecast 2019-2028

13.5.1.    Regional Market Overview and Key Takeaways

13.5.2.    Asia Pacific RegTech Market by Component

13.5.3.    Asia Pacific RegTech Market by Deployment Mode

13.5.4.    Asia Pacific RegTech Market by Organization Size

13.5.5.    Asia Pacific RegTech Market by Application

13.5.6.    Asia Pacific RegTech Market by End User

13.5.7.    Asia Pacific RegTech Market by Country

13.5.7.1.           China

13.5.7.2.           Japan

13.5.7.3.           India

13.5.7.4.           South Korea

13.5.7.5.           Australia

13.5.7.6.           ASEAN

13.5.7.7.           Rest of Asia-Pacific

13.6.       Middle East & Africa RegTech Market Analysis and Forecast 2019-2028

13.6.1.    Regional Market Overview and Key Takeaways

13.6.2.    Middle East & Africa RegTech Market by Component

13.6.3.    Middle East & Africa RegTech Market by Deployment Mode

13.6.4.    Middle East & Africa RegTech Market by Organization Size

13.6.5.    Middle East & Africa RegTech Market by Application

13.6.6.    Middle East & Africa RegTech Market by End User

13.6.7.    Middle East & Africa RegTech Market by Country

13.6.7.1.           GCC

13.6.7.2.           South Africa

13.6.7.3.           Turkey

13.6.7.4.           Rest of the Middle East & Africa

14.   Competitive Landscape

14.1.  Competition Dashboard

14.1.1.    Global and Regional Market Share Analysis

14.1.2.    Market Structure

14.2.       Competitive Benchmarking

14.3.       Key Strategy Analysis

14.4.       Company Profiles

14.4.1.    Deloitte Touche Tohmatsu Limited

14.4.1.1.           Company Overview

14.4.1.2.           Product/Service Offerings

14.4.1.3.           Key Financials

14.4.1.4.           Recent Developments

14.4.2.    Thomson Reuters

14.4.2.1.           Company Overview

14.4.2.2.           Product/Service Offerings

14.4.2.3.           Financials

14.4.2.4.           Recent Developments

14.4.3.    PricewaterhouseCoopers

14.4.3.1.           Company Overview

14.4.3.2.           Product/Service Offerings

14.4.3.3.           Financials

14.4.3.4.           Recent Developments

14.4.4.    Ascent Technologies Inc.

14.4.4.1.           Company Overview

14.4.4.2.           Product/Service Offerings

14.4.4.3.           Financials

14.4.4.4.           Recent Developments

14.4.5.    Broadridge Financial Solutions, Inc.

14.4.5.1.           Company Overview

14.4.5.2.           Product/Service Offerings

14.4.5.3.           Financials

14.4.5.4.           Recent Developments

14.4.6.    Wolters Kluwer NV

14.4.6.1.           Company Overview

14.4.6.2.           Product/Service Offerings

14.4.6.3.           Financials

14.4.6.4.           Recent Developments

14.4.7.    IBM Corporation

14.4.7.1.           Company Overview

14.4.7.2.           Product/Service Offerings

14.4.7.3.           Financials

14.4.7.4.           Recent Developments

14.4.8.    Accuity

14.4.8.1.           Company Overview

14.4.8.2.           Product/Service Offerings

14.4.8.3.           Financials

14.4.8.4.           Recent Developments

14.4.9.    MetricStream

14.4.9.1.           Company Overview

14.4.9.2.           Product/Service Offerings

14.4.9.3.           Financials

14.4.9.4.           Recent Developments

14.4.10.    Trulioo

14.4.10.1.       Company Overview

14.4.10.2.       Product/Service Offerings

14.4.10.3.       Financials

14.4.10.4.       Recent Developments

A comprehensive list of RegTech providers will be provided along with geographical reach, employee count, revenue, product capacities, and their capabilities

15.   Disclaimer

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Global RegTech Market: Investment & Growth Opportunity Analysis, 2019-2028 | RationalStat Store

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Rising number of fraudulent activities and ongoing technological innovations are driving the growth of the market

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Dostarlimab is proving to be a successful treatment for rectal cancer in clinical trials. It was developed by GlaxoSmithKline PLC (GSK) and sold by the brand called Jemperli. All the pateients who had Dostarlimab doesnot required chemo and surgery.

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A recent clinical study of a new drug - dostarlimab, developed by GlaxoSmithKline PLC (GSK) and sold under the brand name Jemperli has left doctors stunned following a 100% success rate in its clinical trials. It appears to be a very promising breakthrough in the treatment of rectal cancer. This immunotherapy drug is used to treat endometrial cancer; however, this was the first time dostarlimab was clinically investigated for rectal cancer tumors. The early study results obtained so far suggest that the drug is surprisingly effective against rectal cancer tumors. All the patients who enrolled for this trial have successfully got their cancer into remission.

"I believe this is the first time this has happened in the history of cancer," Medical oncologist Luis Diaz Jr. from Memorial Sloan Kettering Cancer Center (MSK) stated.

In a small study of 14 patients with rectal cancer conducted at Memorial Sloan Kettering Cancer Center (MSKCC), positive results have only been seen in 12 patients so far (the trial is ongoing). All of these patients had tumors with mismatch repair deficiency (MMRd) - a genetic mutation seen in a subset of around 5-10% of rectal cancer patients. Patients having such tumors tend to be less responsive to chemotherapy and radiation treatments, which surges the need for surgical removal of their tumors. However, cancer cells can become more vulnerable to immune response following MMRd mutations, mainly bolstered by immune checkpoint inhibitors that unleash restrictions on immune cells so that they can more effectively kill cancer cells.

"When those mutations accumulate in the tumor, they stimulate the immune system, which attacks the mutation-ridden cancer cells," Luis Diaz further said. "We thought, 'Let's try it before cancer metastasizes as the first line of treatment."

Generally, before surgical removal of cancer, doctors may suggest patients with these kinds of rectal tumors might undergo chemotherapy and radiation therapy. This range of treatments, however, for many patients, comes with long-lasting consequences that can last the rest of their life. According to Andrea Cercek, MSK Medical Oncologist - "The standard treatment for rectal cancer with surgery, radiation, and chemotherapy can be particularly hard on people because of the location of the tumor." Cercek also added that "They can suffer life-altering bowel and bladder dysfunction, incontinence, infertility, sexual dysfunction, and more."

Unprecedentedly, all the patients who enrolled in this trial have completely avoided both the procedures and their associated side effects. Doctors further conducted physical exams, endoscopies, PET scans, and MRI scans and were unable to find any trace of cancer in their bodies. It is being considered a massive breakthrough in the field of cancer treatment.

About the drug and its trial

Jemperli is an anti-PD-1 checkpoint inhibitor. The course of Jemperli medication, during its trial, was six months, with its administration done every three weeks in patients with MMRd stage II or III rectal adenocarcinoma. Standard chemoradiotherapy and surgery were followed after the medication during the trial. However, any patient who had obtained a complete clinical response post drug regimen would not require chemoradiotherapy and surgery.

Potential Market for Dostarlimab

Dostarlimab injection is used to treat a certain type of advanced endometrial cancer. Approximately half a million cases are observed across the world, predominantly in North America and the Asia Pacific. The treatment looks promising, but a larger-scale clinical trial on patients is needed to see the efficacy of the drug. The average cost of the injection is estimated at US$ 11,000. Upon commercialization, RationalStat estimates that the market for Dostarlimab drugs to range between US$ 190 million and US$ 210 million in the coming years.

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Dostarlimab to Cure Cancer Successfully: Clinical Trials Confirm

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A recent clinical study of a new drug - dostarlimab, developed by GlaxoSmithKline PLC (GSK) and sold under the brand name Jemperli has left doctors stunned following a 100% success rate in its clinical trials. It appears to be a very promising breakthrough in the treatment of rectal cancer.

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Entrepreneurs should identify their business's target market and market size prior to starting. Market research will do research on every step for determining the size.

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A significant and essential task for entrepreneurs and founders is determining their market size and the possible value the target market could bring to their new business. Without this information, it will be challenging to create a credible business plan or consider a potential candidate when the start-up approaches potential investors.

It is essential to consider that the market must reach billions. Even if the start-up or business has the best team and product, the return will be limited to potential investors, making investment less appealing.

Market Size for Start-ups

The size of the market is vital. It informs the team, company, partners, and investors what potential business opportunity is available. It can help in determining the amount of value for a particular venture. It is essential to know that even if the individual or company does not have a plan to raise any money in capital from outside sources.

Market size is vital if the start-up requires funding to expand its business. Market numbers are among the most basic numbers any potential angel and VC investor would be looking for before investing in an idea or product. Even family and friends ought to be asking questions about it in pre-seed and seed financing rounds. Being unprepared will damage the business's credibility immediately.

This is an aspect that entrepreneurs often overlook when preparing their initial plans before launching the world of a new venture or when pitching to investors. How will start-ups ensure that they are doing it correctly?

Estimating Market Size

This exercise comprises five steps to help assess the potential market for a particular product/service. To prepare comprehensive market sizing and define target customer characteristics, the company or start-up will need to conduct market research. Market research can be done using two different methods: primary data and secondary data. Each stage will draw a generalized market study;

Step 1. Determine the target customer for the business

At the beginning of their journey and start-up, all entrepreneurs have to determine their ideal clientele. Customer choice is the company or person for which product and service help address their needs and solve the problems. To define the target customer, the start-up must:

Find out who is the ideal client.

Create a profile of the usual or anticipated prospective customers.

Due to the importance of defining the ideal customer, it is essential to allocate enough time to conduct a thorough study of this initial step.

Step 2. Determine the number of potential customers

To estimate the number of customers for a target product or service, the first step is to understand what products/services have to offer to a group of people or businesses. In addition, identify the product or service features and benefits.

Suppose an individual or partner starts a new venture in Ontario or another Canadian province. In that case, a start-up or a new business entity could use industry databases like the ones provided through Statistics Canada, the U.S. Bureau of Economic Analysis, or Hoovers to help in determining the market.

Step 3. Determine the penetration rate for the product

Define the market size by considering a penetration rate for the product/service category. The penetration rate depends on the quality of the product or service. Market penetration provides start-ups and companies with significant insights into how their customers view their products.

To calculate market penetration, the current sales volume for the product or service is divided by the total sales volume of all similar products, including products sold by competitors. The result is multiplied by 100 to create a percentage.

Example: Penetration rates of computers and the business intelligence system:

Computers, word processing, and the Internet: There is barely any way to run any business in the modern world without a laptop computer that can process words and internet connectivity. Although these three technologies have not been at 100%, it's nearly enough to utilize this assumption to boost business growth and planning.

Systems for business intelligence: In theory, most businesses could benefit from having a company intelligence system, a type of software used to analyze and manage information about sales, finance marketing, and other specific purposes.

However, in reality, only a handful of ventures possess the capacity and business skills necessary for making business intelligence tools an investment worth the investment. This means that the penetration rate is limited to giant corporations, which make up less than 1% of the businesses in the world's major cities. While 1% may not sound like much, it is more potential customers than a brand start-up could reach.

Step 4. Determine the potential market size

The market size is based on volume and value

Market volume can be defined as the overall product units sold or total software purchases or a total number of orders booked. To determine the market's overall potential, multiply the number of potential customers by the penetration rate.

Market Volume = Number of Targeted Customers x Permeation Rate

Furthermore, to calculate the monetary value of the market, multiply the market volume by the average value (pricing) of the product/service, i.e.

Market Value = Market Volume x Average Value (in US$)

Step 5. Use the market size information

The steps mentioned above on how to effectively determine the market size (value & volume) are not a perfect scientific method. There are ways to increase the efficiency of this method:

When making the first estimate, look at every assumption made and the reasons that could make it change. To account for the potential risks of change, consider scenarios for worst-case and best-case scenarios and anticipated scenarios. As time passes, the start-up should be able to monitor whether assumptions are accurate and decide if the company needs to alter its beliefs.

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How to Effectively Determine the Market Size of a Business

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A significant and essential task for entrepreneurs and founders is determining their market size and the possible value the target market could bring to their new business. Without this information, it will be challenging to create a credible business plan or consider a potential candidate when the start-up approaches potential investors.

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Consumers can use Buy Now, Pay Later (BNPL) to make purchases and pay for them at a later date, often without incurring interest. In addition to point of sale installment loans, BNPL arrangements are becoming increasingly popular as a payment option

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Buy now pay later (BNPL) is a market that has caught the eyes of the millennials and Gen Z. Hardly any of the older generation people use this facility. A credit card is something similar, only it has a business model that runs on a high rate of defaulters. BNPL on the other hand is enticing for the younger generation as it does not penalize the customers with a credit rating. This brings much more flexibility to make purchases with lesser disposable cash in the short term. This facility in its entirety is a win-win situation for businesses and customers alike.

The Demographic Divide

As per RationalStat survey 2021, it was found that almost close to 15% of the population between the age group of 18 to 34 years used BNPL as a way to make purchases during the festive season in contrast to 0% of the population of the age group 65 and above opting for this option. This is in context to the North American and European markets that are expected to be saturated. The Asia-Pacific holds the key and will determine the future course of the market that will positively boost the aforementioned market. The outlook is positive due to the sizeable population.

India & China are Key Markets Across the Globe

Asia Pacific will dominate the market in the coming years with a CAGR of over 50% as per RationalStat due to the demographic dividend the region holds. India along with China holds the key to the sector's overall growth. China has the world's largest population but the annual growth rate that replaces the older is falling sharply. India holds the age with the youngest population in the world and the rising disposable income coupled with a better standard of living and better ambition in career growth opportunities. All these factors narrow down to the importance and relevance of India along with China for the outlook of buy now pay later market.

Global Fintech Firms on the Rise

The recent phenomenon in the most promising markets of India having a higher number of fintech firms getting unicorn status is something to take note of. To name a few to gauge the magnitude Razorpay, PayTM payments bank, and ZestMoney. This doesn't include big MNC stalwarts like Amazon, Flipkart (backed by Walmart), the Tata group, and the renowned Reliance group. All of them combined not only show a promising trend for the market, but it has the potential to disrupt the age-old way of using credit cards to make purchases.

"Sailesh Ramakrishnan, Partner at Rocketship. vc expects BNPL to be a key aspect of e-commerce"

What's Fueling the Market?

Under-penetrated market, the rise of the internet at dirt-cheap prices with the fastest-growing smartphone market, and a flexible work culture during the ongoing pandemic has all led to a growth in the market. Or simply put, these are the catalyst to fuel the market's growth. Many first-time users are on the internet and have not experienced seamless shopping experiences. The buy now pay later is providing a cushion and flexibility to those untapped markets that have the potential to drive exponential market growth. The growing disposable income coupled with the rapid digitalization being the flagship project of new India has provided the much-needed impetus to the sector.

E-Commerce Platforms: The New Beacon of Hope

The global e-commerce platforms are the flag bearers of this model of payment. The very same Amazon and Walmart rivalry has taken new twists and turns in the Indian market. The pandemic has transformed almost every business sector across the globe. In the meanwhile, a positive outcome was the introduction of BNPL by both Amazon and Walmart. This move not only skyrocketed the sales for both companies but has contributed to enormous financial gains.

Also Read: ONDC to Flourish the Indian E-Commerce Market

The global impact of this market is very promising but the significant and the fastest growth impact for the very same business model is likely to be witnessed in Asia-Pacific dominated by India and China.

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Buy Now, Pay Later Market to surge with over 50% CAGR in coming years

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Buy now pay later (BNPL) is a market that has caught the eyes of the millennials and Gen Z. Hardly any of the older generation people use this facility. A credit card is something similar, only it has a business model that runs on a high rate of defaulters.

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According to forecasts, the global computing market will grow 15% from 2019 to 2027.Due to a large number of players in the global cloud computing market, the market is fragmented. The RationalStat research team utilizes a combination of secondary sources and primary research to examine market size and forecast.

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1.       Market Introduction

1.1.    Scope of Study

1.2.    Problem Statement

1.3.    Market Segmentation

2.       Assumptions and Acronyms

3.       Executive Summary

3.1.    Global Market in 2022

3.2.    Analyst Insights & Recommendations

3.3.    Growth Opportunities and Key Strategies

3.4.    Supply-side and Demand-side Trends

4.       Research Methodology

5.       Analysis of COVID-19 Impact and Road Ahead

6.       Market Indicators and Background

6.1.    Macro-Economic Factors

6.2.    Forecasting Factors

Robust assessment of various factors including industrial performance, cloud computing adoption, economic conditions, corporate spending, among others

6.3.    Supply Chain & Value Chain Analysis

6.4.    Industry SWOT Analysis

6.5.    PESTLE Analysis

6.6.    Porter’s Five Forces Analysis

7.       Global and Regional Market Dynamics

7.1.    Drivers

7.2.    Restraints

7.3.    Trends

7.4.    Opportunities

8.       Segmental Analysis

8.1.    Global Cloud Computing Market by Service Model

8.1.1. Segment Overview

8.1.1.1.              Infrastructure-as-a-Service (IaaS)

8.1.1.2.              Platform-as-a-Service (PaaS)

8.1.1.3.              Software-as-a-Service (SaaS)

8.2.    Global Cloud Computing Market by Deployment Model

8.2.1. Segment Overview

8.2.1.1.              Public

8.2.1.2.              Private

8.2.1.3.              Hybrid

8.3.    Global Cloud Computing Market by End-Use

8.3.1. Segment Overview

8.3.1.1.              Banking, Financial Services, and Insurance (BFSI)

8.3.1.2.              IT & Telecommunications

8.3.1.3.              Government and Public Sector

8.3.1.4.              Retail and Consumer Goods

8.3.1.5.              Manufacturing

8.3.1.6.              Energy and Utilities

8.3.1.7.              Media and Entertainment

8.3.1.8.              Healthcare and Life Sciences

8.3.1.9.              Others (Education, Travel and Hospitality, and Transportation and Logistics)

9.       Regional Analysis

9.1.    North America

9.1.1. US

9.1.2. Canada

9.2.    Latin America

9.2.1. Brazil

9.2.2. Mexico

9.2.3. Rest of Latin America

9.3.    Western Europe

9.3.1. Germany

9.3.2. UK

9.3.3. France

9.3.4. Spain

9.3.5. Italy

9.3.6. Benelux

9.3.7. Nordic

9.3.8. Rest of Western Europe

9.4.    Eastern Europe

9.4.1. Russia

9.4.2. Poland

9.4.3. Rest of Eastern Europe

9.5.    Asia Pacific

9.5.1. China

9.5.2. Japan

9.5.3. India

9.5.4. South Korea

9.5.5. Australia

9.5.6. ASEAN

9.5.7. Rest of Asia-Pacific

9.6.    Middle East & Africa

9.6.1. GCC

9.6.2. South Africa

9.6.3. Turkey

9.6.4. Rest of the Middle East & Africa

10.   Competitive Landscape

10.1.                     Competition Dashboard

10.1.1.    Global and Regional Market Share Analysis

10.1.2.    Market Structure

10.2.                     Competitive Benchmarking

10.3.                     Key Strategy Analysis

10.4.                     Company Profiles

10.4.1.    Adobe Inc.

10.4.1.1.          Company Overview

10.4.1.2.          Product/Service Offerings

10.4.1.3.          Key Financials

10.4.1.4.          Recent Developments

10.4.2.    Alphabet Inc. (Google Inc.)

10.4.2.1.          Company Overview

10.4.2.2.          Product/Service Offerings

10.4.2.3.          Financials

10.4.2.4.          Recent Developments

10.4.3.    Amazon.com Inc.

10.4.3.1.          Company Overview

10.4.3.2.          Product/Service Offerings

10.4.3.3.          Financials

10.4.3.4.          Recent Developments

10.4.4.    Cisco Systems Inc.

10.4.4.1.          Company Overview

10.4.4.2.          Product/Service Offerings

10.4.4.3.          Financials

10.4.4.4.          Recent Developments

10.4.5.    Hewlett Packard Enterprise

10.4.5.1.          Company Overview

10.4.5.2.          Product/Service Offerings

10.4.5.3.          Financials

10.4.5.4.          Recent Developments

10.4.6.    IBM Corp.

10.4.6.1.          Company Overview

10.4.6.2.          Product/Service Offerings

10.4.6.3.          Financials

10.4.6.4.          Recent Developments

10.4.7.    Microsoft Corp.

10.4.7.1.          Company Overview

10.4.7.2.          Product/Service Offerings

10.4.7.3.          Financials

10.4.7.4.          Recent Developments

10.4.8.    Oracle Corp.

10.4.8.1.          Company Overview

10.4.8.2.          Product/Service Offerings

10.4.8.3.          Financials

10.4.8.4.          Recent Developments

10.4.9.    Salesforce Inc.

10.4.9.1.          Company Overview

10.4.9.2.          Product/Service Offerings

10.4.9.3.          Financials

10.4.9.4.          Recent Developments

10.4.10.                        SAP SE

10.4.10.1.      Company Overview

10.4.10.2.      Product/Service Offerings

10.4.10.3.      Financials

10.4.10.4.      Recent Developments

10.4.11.                        VMware Inc.

10.4.11.1.      Company Overview

10.4.11.2.      Product/Service Offerings

10.4.11.3.      Financials

10.4.11.4.      Recent Developments

11.   Disclaimer

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Global Cloud Computing Market | RationalStat Store

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The proliferation of digital content and increased internet usage has propelled the global cloud computing market growth

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Green hydrogen market growth is expected to be significant due to climatic changes, geopolitical factors, and technological advancements. It is predicted to reach over 50% within the next seven years, based on RationalStat Analysis. Hydrogen-powered vehicles are expected to gain global traction.

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With all the hype in electric mobility and with a growing awareness of decarbonization in recent times, there has been a lot of traction regarding green hydrogen as a potential green fuel. The market will witness significant growth due to various factors such as climate change, geopolitical tension, technological advancement, and an alternative to the legacy source of energy which is fossil fuels. The growth potential in the next 7 years is over 50% as per RationalStat analysis for the green hydrogen market.

Green Hydrogen: The Fuel for Tomorrow

Hydrogen fuel in its current form isn't carbon neutral. In simple words, the means used to procure hydrogen are not clean. There is a lot of energy burnt in legacy fuels to have hydrogen for end consumption. There will be a certain change by using abundant renewable energy to generate more hydrogen for industrial purposes moving forward. The other restraining factor is the cost of production using clean energy. As per the International Energy Agency (IEA), the cost of green hydrogen is quite high as per present technology and standards. The estimates as per the aforementioned agency mentions that the cost per kilo of green hydrogen is around US$ 3.0 to US$ 7.5. This is compared to the legacy way of Steam Methane Reforming (SMR) is around US$ 1.0 to US$ 4.0. This is quite a steep increase in change when factoring in the magnitude of large-scale industrial manufacturing. The profit proportion from a business perspective is negative. This is a major factor that doesn't allow it for its massive investments.
"South Africa is recreating itself as a green hydrogen export hub"
Electrolyzer to Make Way for Newer Technologies

In the legacy form of manufacturing hydrogen, the natural gas is heated to get the carbon monoxide and hydrogen which can be used as a fuel cell. What raises an environmental concern here is, that this method uses an enormous amount of fossil fuel generating carbon as a by-product. Thus, in order to address this challenge, electrolyzers can be used in the medium to long run, which if executed well, may reduce the cost of generating hydrogen by half by 2040. The magnitude to achieve the same is required by a bulk of industrial applications that can substantiate the demand for the electrolyzers as per the IEA. Electrolyzers are machines that separate hydrogen atoms from oxygen and store them for further applications. The manufacturing of electrolyzers that are of the scale to be used in industrial applications is a short-term problem that requires urgent attention. This machine is an integral part of reducing the per kilo cost of green hydrogen moving forward.

Also Read: Liquid Hydrogen: The Sustainable Fuel for Aircrafts

Green Hydrogen - Backed by Major Economies and Major Global Energy Companies

The perception around green hydrogen in recent times is changing on a positive note. Major economies across the globe have pledged to further boost its research & development. Each of the major countries has its separate reasons to pledge on this forthcoming technology. Various large oil and gas manufacturing companies with technology startups are exploring the green hydrogen market and are aiming to grab a significant market share in the global market. One such company named ITM Power is betting huge on the future of green hydrogen fuel and may turn out to become a unicorn startup. The market is turning out to grow at a significant rate in the forthcoming decade and will change the energy consumption scenario across the globe by 2040.

Challenges Faced by Green Hydrogen in the Short-Medium Term

For green hydrogen to be relevant in the long-term goals to decarbonize the global economies, this sector needs to have a lot of huge investments. The major economies must work together to expand their synergies in order to meet the target to reduce carbon emissions, roughly by around 2040-2050.

The growth possibility is massive and holds the potential to disrupt the entire oil and gas industry and may change the consumer behavior toward transportation, mobility, and manufacturing. Green hydrogen fuel may help unlock multiple verticals mankind has not fathomed.

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Green Hydrogen: The Fuel of the Future for Unlocking Multiple Verticals

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With all the hype in electric mobility and with a growing awareness of decarbonization in recent times, there has been a lot of traction regarding green hydrogen as a potential green fuel. The market will witness significant growth due to various factors such as climate change, geopolitical tension, technological advancement, and an alternative to the legacy source of energy which is fossil fuels.

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Contract manufacturing is a process of execution in which the manufacturer has no control over the product specifications. It is an excellent way to minimize marketing risk while increasing operational efficiency. Contracting is a procedure that allows businesses to have control of outsourcing companies; however, they decide to purchase products or services according to the terms of a contract signed in written form.

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Contract manufacturing is a form of outsourcing and is generally referred to as a contract between two firms in which one firm develops/manufactures products under the label or brand of another firm. Contract manufacturers offer such services to various firms built on their own methodology or the customers' designs, formulas, and/or specifications. Contract manufacturers provide highly valuable services to expanding industries such as pharmaceutical, automobile, consumer electronics, chemical, packaging, and others. Globally, organizations from various sectors have preferred contract manufacturing for various factors based on the economic condition and their investment capability. Moreover, factors such as reduced operational cost and time, flexibility in operation, improved resource allocation, and increased efficiency are some of the pivotal growth factors for the contract manufacturing market. Further, faster production rate and turnaround, better quality control, and scalability provided by the contract manufacturing organizations are also augmenting the global market growth. The global contract manufacturing market is expected to grow at a CAGR of more than 5.5% during the forecast period.

Contract Pharmaceutical Manufacturing is gaining traction

The pharmaceutical industry is one of the leading industries that is adopting contract manufacturing services in its regular practices. Increasing demand for pharmaceutical products for the treatment of various diseases has augmented the soaring demand for outsourcing manufacturing services. Pharmaceutical contract manufacturing is growing rapidly due to the increasing demand for generic medicines and biologics, the capital-intensive nature of the business, and complex manufacturing requirements. Various pharmaceutical contract manufacturers are expected to provide services and support in the drug development process in the near future, which is also acting as a growth factor for the market. Active Pharmaceutical Ingredient (API) manufacturing service in the pharmaceuticals sector is a widely adopted service in the contract manufacturing market.

Further, contract manufacturing services in the electronics industry are widespread, from printed circuit board design to satellite instrumentation, and are commonly outsourced by the OEM. An OEM can choose to outsource the particular product and can also offer supplementary services to various subcontractors, which can improve logistics or distribution. Moreover, the contract manufacturing process has been widely used in the automotive industry. For instance, Mercedes appointed AM General as a contract manufacturer to produce 12,000 of their R-class vehicles intended to export to China. Mercedes would manage the logistics and supply chain, and all parts of the R-class vehicles would be assembled and painted on AM General's production line in Mishawaka, Indiana.

North America leads the global market

North America is expected to dominate the contract manufacturing market owing to improved reimbursement policy, well-developed technology, high healthcare expenditure, and the presence of the leading market players. Further, there are large market players that are providing healthcare and life science contract manufacturing services in the North American region. Europe is anticipated to hold the second position in the global contract manufacturing market due to the support provided by the government bodies for research & development in the pharmaceutical industry drives the market in the European region. The Asia Pacific region is projected to be the fastest-growing region over the forecast period. Rapidly improving technology and the presence of emerging countries such as India are expected to drive market growth in the Asia Pacific region. Additionally, the Middle East and Africa hold a considerable share in the market owing to the presence of meager and slow developing economies, especially in the African region.

Market Structure and Competition Landscape

The global contract manufacturing market is fragmented in nature and consists of several players operating in the market. Some of the prominent players that contribute significantly to the market growth include Patheon (Thermo Fisher Scientific Inc.), Lonza Group, Boehringer Ingelheim International GmbH, Almac Group, Dr. Reddy Laboratories Ltd., Faurecia SA, Hyundai Dymos, Lear Corp., Magna International Inc., NHK Springs Co., Ltd., Britech Industries, Hankscraft Inc., Maysteel Industries LLC., Talan Products Inc., GSH Industries Inc., Hon Hai Precision Industry Co., Ltd. (Foxconn), Pegatron Corp., Jabil Inc., Flex Ltd., Wistron Corp., Hearthside Food Solutions Inc., Gehl Foods LLC, Agilery AG, Valk Industries Inc., and Warren Industries Inc. among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global contract manufacturing market include,

In November 2020, Laurus Labs Ltd. acquired Bangalore-based biotech company Richcore Lifesciences. Laurus Labs has signed a definitive agreement to acquire 72.55% of Richcore's shares from its private equity investors Eight Roads Ventures and VenturEast and other promoters. This acquisition aimed to diversify into the manufacturing of biotech drugs. Richcore has advanced R&D and manufacturing facilities and focuses on developing and manufacturing biotech products critical for manufacturing biological drugs. Richcore also offers support to develop and scale up bioprocesses by providing contract research, development, and manufacturing services (CDMO).

In February 2021, Foxconn Technology Group reached a tentative agreement with Fisker Inc., an electric vehicle (EV) startup-turned-SPAC to manufacture EVs primarily to be sold in North America, Europe, China, and India. Under the agreement, Foxconn will begin production of EVs in 2023 with a projected annual volume of over 250,000 vehicles under the Fisker brand name.

Key Market Segmentation

RationalStat has segmented the global contract manufacturing market on the basis of industry, and region.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

Defining the problem by understanding the type of market and data required by the client.

Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.

Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.

Evaluating and analyzing the data by referring to data sources utilized and leveraged.

Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Secondary Sources

Annual reports, company filings, investor presentations, product catalogs, industry-specific associations, and company documents

Industry and market-related documents available in the public domain

Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others

Whitepapers, research papers, and industry blogs.

Why Buy this Report?

The report is intended for contract manufacturing service providers, original equipment manufacturers (OEMs), investment firms, government organizations, manufacturing firms, healthcare facilities, educational organizations, regulatory agencies, research organizations, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.

Table of Contents
Robust assessment of various factors including industrial performance, public and private expenditure, economic conditions, among others
6.3.1. Original Equipment Manufacturer (OEM)

6.3.2. Product Design and Engineering firms

6.3.3. Contract Manufacturers

6.3.4. Sub-Contract Manufacturers

6.3.5. Raw Material Suppliers

6.3.6. Inventory Management

6.3.7. Machine Installation, Training, Maintenance, and Inspection Service Providers

6.3.8. Marketing and Distribution
An exhaustive analysis of this chapter will be done based on major industries covered in the report **The list is not exhaustive and contains more than 500 companies categorized into Industries

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Global Contract Manufacturing Market | RationalStat Store

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Contract manufacturing is a form of outsourcing and is generally referred to as a contract between two firms in which one firm develops/manufactures products under the label or brand of another firm. Contract manufacturers offer such services to various firms built on their own methodology or the customers' designs, formulas, and/or specifications.

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A significant portion of the Indian manufacturing market was devoted to the automotive industry. This country produces more tractors than any other nation. Besides the pandemic, the automobile industry has overcome all the problems. Now automobiles are promising for two and four-wheeler electronic vehicles in coming years.

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The contribution of the Indian automotive industry to the country's manufacturing production and employment generation has always been a good measure of how well the economy is performing. India is the largest tractor manufacturer, second-largest bus manufacturer, and third largest heavy truck manufacturer across the globe, which makes it hold a strong position in the global heavy vehicles arena.

Despite the ongoing post-pandemic difficulties, the Indian automobile sector appears to have overcome most of its obstacles. Improvements such as Global supply-chain rebalancing, government incentives to boost exports, and technology disruptions will aid in the creation of opportunities throughout the automotive value chain. According to Invest India, the automobile industry of India manufactured over 22.7 million vehicles in 2020, including passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers, and is cited to be the world's third-largest automotive market in terms of volume by 2025.

With passenger vehicle demand remaining strong despite rising commodity prices, many automakers are eager to embrace new technologies, particularly in the electric mobility arena, which is projected to see a series of launches in both four- and two-wheeler categories in the coming years.

Solid Foundations Will Drive the Growth of the Automotive Industry

Economic factors, consumer preferences, government policy, globalization, and technological advancements are the major drivers which cause an overall impact on the automotive sector. Demand is also predicted to be strong due to rising middle-class income. The Indian automobile industry benefits from a variety of variables, including low-cost trained labor, strong R&D centers, and low-cost steel production. In addition, the industry provides excellent investment opportunities as well as direct and indirect employment opportunities for skilled and unskilled individuals, which is also propelling the industry's growth.

Market Structure and Competitive Landscape

By 2030, India has the potential to be a global leader in shared mobility, paving the way for electric and driverless vehicles. Over the next 10 to 15 years, the mobility landscape will fundamentally change with the trend of autonomous driving, connected cars, electrified vehicles, and shared mobility, further amplifying their influence. The changing market dynamics offer Indian automakers a unique opportunity to spearhead disruptive innovations across categories and achieve a competitive advantage. In September 2021, The Indian government also announced a Production Linked Incentive Scheme (PLI) scheme for automobiles and auto components amounting to US$ 3.49 billion.

Companies will succeed by integrating technology and analytics into their operations. There are a few trends that will shape the car industry's future in an ever-changing landscape.

The adoption of digitalization is driving the usage of platforms like social media and advanced technologies like Augmented Reality (AR) and Virtual Reality (VR) to add value to the customer experience. Vehicle manufacturers should use the customer-centric approach of digital transformation to provide post-sales service engagements.

The booming market of electric vehicles coupled with government initiatives provides the opportunity for corporations and enterprises to rethink their mobility and embrace greener fleets using EVs and PHEVs. This will aid in cost reduction and meeting their sustainability goals in the long run.

Telematics allows for navigation, safety, security, and communication while also providing vital data on the fleet's performance. The ability to integrate Telematics and data for optimization of enterprise fleets is making telematics one of the fastest-growing trends in the industry.

Many people have discarded their old cars since the scrappage policy went into effect. During the purchase of a new automobile, such customers are provided incentives. This action could signal a rise in market demand for new vehicles.

As a result of greater digitization, consumers have become accustomed to doorstep delivery for consumer products such as groceries. We can expect a similar trend in large-ticket purchases such as automobiles in the coming years. Several mobility businesses have already begun to sell their products directly to customers (D2C).

Electric Vehicles are the Next Big Thing

Electric vehicles (EVs) are at the vanguard of a massive shift in the global automobile industry. It is gradually becoming the favored choice for consumers because of reduced emissions and vehicle operating costs. With growing EV usage, it is projected that manufacturing costs will decrease, newer battery technologies will be available, and charging infrastructure will improve. The Union Cabinet approved INR 26,058 Crore PLI scheme in September 2021 to boost the local manufacture of electric and fuel cell vehicles as well as drones in India. The Government of India also introduced the battery-swapping policy to boost the sales of electric vehicles. From driverless cars to voice controls, electric automobiles are being incorporated with AI and powered by hydrogen fuel cells. As a result of the push, green hydrogen will become more appealing and sustainable. During the next few years, electric vehicles will lead the charge in propelling India to the forefront of the automotive industry. Electric, sustainable, renewable, cost-effective, and technology-driven vehicles will drive the future of the automobile industry.

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Indian Automotive Industry Trends That are Shaping the Future

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The contribution of the Indian automotive industry to the country's manufacturing production and employment generation has always been a good measure of how well the economy is performing. India is the largest tractor manufacturer, second-largest bus manufacturer, and third largest heavy truck manufacturer across the globe, which makes it hold a strong position in the global heavy vehicles arena.

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As an alternative to breastfeeding, baby formula is available. A great source of fat, carbs, lipids, proteins, and other components necessary for baby growth, this food has high nutritional values. Baby formula has run out of stock in the US (march).

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During the last week of April 2022, more than half of baby formula was sold out in six US states, including Iowa, South Dakota, North Dakota, Missouri, Texas, and Tennessee. According to the product data firm, which analyzed over 11,000 infant formula vendors across the country, 29 percent of baby formula items were out of stock at retailers during the second week of March 2022.

Baby formula is an ideal alternative for infant ingestion that closely resembles the nutritional content of breast milk by containing numerous nutrients such as vitamins, proteins, carbs, lipids, linoleic acid, and prebiotics that aid in the new-borns overall growth.

Commercial infant formulas are regulated by the Food and Drug Administration ( FDA). They are generally available in three categories, namely Cow milk protein-based formulas, Soy-based formulas, and Protein hydrolysate formulas. Specialized formulae are also offered for premature babies and babies with certain medical disorders. The new-born formula scarcity influences the health of older children and adults who have severe food allergies.

In 2019, the market for baby infant formula in the US was estimated at US$ 3.7 Billion.

According to a product data firm report, out-of-stock percentages for baby formula ranged from 2% to 8% in the first seven months of last year but have gradually increased since then, reaching 23% in January.

The global infant formula/baby foods market was estimated to have reached US$ 53.7 billion in 2020.

The growing shortage of Baby formula in the US

The shortage of baby formula in the US is worsening, prompting some merchants to limit the number of products customers may purchase in a single transaction. Abbott is one of the primary producers of baby formula. The shortage became acute after the FDA issued a warning to the healthcare company - Abbott, a warning and recalled some of its powdered baby formulae over consumer complaints about defective products. This was reported after being notified of four cases of infant illness in which at least four babies were hospitalized with bacterial infection, and at least two babies died. These incidents were reported in Minnesota, Ohio, and Texas and the FDA have teamed up with the CDC and state and local partners to investigate them further. However, supply-chain issues and labor constraints have worsened the recall.

The shortage has been a problem for families across the country still, it's especially noticeable in San Antonio, a Latino-heavy city in South Texas, where many moms lack health insurance and have low-wage jobs limiting their ability to breastfeed. Baby food stores are practically empty across the city, and non-profit organizations are scrambling to secure new supplies. Customers can only buy a certain amount of formula at major retailers like CVS, Target, and Walgreens.

Political angle

Republicans have taken advantage of parents' growing fear to criticize President, claiming that the government has not done enough to increase production. Senator of Utah has also written to the Food and Drug Administration and the Department of Agriculture on May 10, claiming that federal officials were taking too long to answer.

Safer substitutes for Baby Formula

Countless parents in need seek alternatives due to an ongoing baby formula shortage. Parents can acquire safe, pasteurized breast milk from donation banks or visit a paediatrician for other options such as baby formula samples or testing new brands. For the last five to ten years, ordering alternative formulas from abroad has been a trend and is increasingly common these days. If a kid is six months old, the Centres for Disease Control and Prevention recommends gradually supplementing nutrition with solids. American Academy of Paediatrics spokesperson also mentions that baby formula is very nutrient-dense and produced from extensive research; thus, it is hazardous to feed homemade recipes to babies or water down the formula, and there's an increased risk for contamination in the homemade formula as it isn't prepared using the safety protocols.

Stricter measures in the future to ensure quality

The FDA continues to consult with Abbott Nutrition and other infant formula manufacturers and weighs all options for ensuring the infant formula supply. It's also looking at Abbott's position and collaborating with them on resuming manufacturing safely in Sturgis, Michigan. While Abbott waits for the plant to reopen, it attempts to enhance Similac production at its other facilities and export formula from Europe. Similarly, the maker of Enfamil, Reckitt Benckiser Group, says its factories are working on expanding supply. They've also greatly enhanced their quality assurance resources to ensure that our stringent safety standards are upheld. Under the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), FDA will supposedly discuss a long-term approach to prevent this disaster.

Road ahead

The shutdown of Abbott's manufacturing facility in Sturgis, Michigan, led to the production disruption in the US. However, the company has recently announced to restart the factor in two weeks as the company is waiting for approval from the Food and Drug Administration. It is expected that baby food will take 6-8 weeks to reach the retail stores. Panic buying and hoarding are expected to prevail in the market; the supply situation set to remain tight for the next quarter.

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Baby Formula/Infant Formula Shortage in the US

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During the last week of April 2022, more than half of baby formula was sold out in six US states, including Iowa, South Dakota, North Dakota, Missouri, Texas, and Tennessee. According to the product data firm, which analyzed over 11,000 infant formula vendors across the country, 29 percent of baby formula items were out of stock at retailers during the second week of March 2022.

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The global cooking robots market is estimated to witness a robust growth rate of over 15% over the period of 2019-2028. Pivotal growth factors such as rising demand for professional robots in the HoReCa segment coupled with the growing innovations and initiatives are expected to propel the market growth of the global cooking robot market. Moreover, convenience is also driving the selling point of cooking robots. In recent years, there has been an increasing demand for professional service robots across the food service industry on account of the benefits provided by them, such as sizeable continuous uptime of over 100,000 hours, cloud connectivity, and others. Robots are anticipated to become a crucial part of the cooking process based on their innovative features, including visual recognition, and failure prediction, among others. Technological advancements and developments in the food industry are backing a substantial increase in robot installations over the previous years. Robots' potential to aid the cooking process across kitchens in the food & beverage industry is supplementing the robotics market potential. Additionally, increasing food safety regulations across the industry is anticipated to drive the global cooking robot market over the coming years.

The commercial end-user segment is leading the global cooking robots market

Based on end-user, the global cooking robot market is segmented into commercial and residential. The commercial end-user segment is dominating the global market in 2022 and is further estimated to continue its dominating trend over the forecast period. In the modern competitive and highly advanced business environment, the emergence of robots in the market is becoming significant for various commercial end-user applications. The major factors related to the emergence of robots for commercial use include reduced human interference, increased work efficiency, automatic controls over the cooking parameters, customizations according to the customer requirement, consistency, and others. The rising concerns in the commercial end-user applications for manpower & chef availability, increasing wastage of food, rising CO2 emission, and other factors have created opportunities for the global cooking robot market to develop over the forecast period. The growing requirement for robots in the food industries globally due to increasing fast food centers, multi-cuisine restaurants, and cooking institutions in the commercial sector has significantly boosted the market. Further, the development of technologies for the food industries, including artificial intelligence (AI), robotics, and the Internet of Things (IoT), has influenced market development.

Robotics-as-a-Service is gaining traction globally

The growing demand for Robotics-as-a-Service on the back across several industries is anticipated to provide substantial growth opportunities to the cooking robot market across the globe. This ever-increasing demand can be attributed to the benefit provided by RaaS, that institutions can use the service through a cloud-based subscription. Consequently, this enables the organizations to shift their CAPEX to an OPEX, allowing them to deploy innovative solutions without any capital investment. For instance, Picnic, a company based in Seattle, provides automated food solutions without any up-front costs. Additionally, the company covers installation, delivery, and maintenance on a subscription basis. Furthermore, the company further offers continuous free hardware and software for its services.

North America is the leading region in the global cooking robots market

North America, comprising the US and Canada, is dominating the global cooking robot market in 2022 and is further estimated to maintain its dominant position over the forecast period. The increasing development in the technologies across the US has surged the demand for AI-driven robots for the commercial kitchen to provide kitchen assistance in restaurants and food & beverage industries. The US has several major market players developing their products to introduce in the market, and some have already launched their products. The emerging necessity for advanced technology for the kitchen setup has created opportunities for cooking robots to support the commercial sectors' busy kitchens. Austin-based Briggo, Inc. is one of the leaders in Connected Coffee, empowering people to be their baristas and creating perfectly personalized, gourmet coffee and tea on demand. Briggo's coffee machine is a robotic, fully automated barista that serves around 8.5 million drink combinations of Briggo and Allegro beans, fresh milk, and gourmet syrups, with a capacity of 100 cups per hour. The machine can be easily installed in public places such as hospitals and airports.

Market Structure and Competition Landscape

The global cooking robots market consists of various players operating in the market. Some of the prominent players that contribute significantly to the market growth include Miso Robotics, Inc., Mechanical Chef, Moley Services UK Ltd., Picnic Works, Inc., Café X Technologies Limited, Wilkinson Baking Company, Chowbotics Inc., Karakuri Ltd., Creator, Nymble Labs Private Ltd., Vesta Cooking Robot Co., Limited, Euphotic Labs (Let's Nosh), Tahi Technologies Inc. (Else Labs), Kingclean Electric Co., Ltd., and Briggo Inc., among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global cooking robots market include,

In January 2021, a robotic restaurant, named Spyce, created by MIT graduates opened its second location in Harvard Square, United States.

In May 2020, Miso Robotics announced its partnership with Pathspot. This was aimed to advance healthier commercial cooking environments, improving safety standards in kitchens to address the needs of the restaurant industry. The partnership allowed Miso Robotics to offer PathSpot's hand scanning device for optional integration into the design of Flippy, Miso Robotics' autonomous kitchen assistant.

Key Market Segmentation

RationalStat has segmented the global cooking robots market on the basis of robot type, application, end-user, and region.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

Defining the problem by understanding the type of market and data required by the client.

Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.

Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.

Evaluating and analyzing the data by referring to data sources utilized and leveraged.

Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Secondary Sources

Annual reports, company filings, investor presentations, product catalogs, Robotic Industries Association, International Federation of Robotics, and company documents

Industry and market-related documents available in the public domain

Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others

Whitepapers, research papers, and industry blogs.

Why Buy this Report?

The report is intended for cooking robots manufacturers, HoReCa players, Robotics-as-a-Service providers, investment firms, government organizations, educational organizations, regulatory agencies, research organizations, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.

Table of Contents
Robust assessment of various factors including industrial performance, industry players' expenditures, economic conditions, among others
6.3.1. Cooking Robots Manufacturers
Robust assessment of major investments made by various industry players along with key application areas, technological assessment, and key end-use sector Robust assessment of various use cases of cooking robots across a range of applications along with spending made by end-users on the product

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Global Cooking Robot Market | RationalStat Store

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The global cooking robots market is estimated to witness a robust growth rate of over 15% over the period of 2019-2028. Pivotal growth factors such as rising demand for professional robots in the HoReCa segment coupled with the growing innovations and initiatives are expected to propel the market growth of the global cooking robot market.

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ONGC helps to flourish Indian E commerce Market

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ONGC helps to flourish Indian E commerce Market

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Every businessman's life is being changed by e-commerce. With the increase in smart phone use and internet usage, the ecommerce market is expected to grow. According to the E-Commerce Sector in India, the Indian E-commerce industry is likely to rise to US$ 188 billion by 2025, up from US$ 46.2 billion in 2020.

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In India, e-commerce is changing the way people do business. Increased internet and smartphone penetration can be attributed to the e-commerce industry's rise. According to an IBEF report, the 'Digital India' program increased the number of internet connections to 830 million by 2021. The number of enterprises conducting business in the virtual world has risen considerably in recent years. Even large firms are shifting in response to the changing logistics landscape and growing public demand. Moreover, the recent COVID-19 pandemic has aided the growth of e-commerce businesses significantly in recent years.

According to the E-Commerce Sector in India, the Indian E-commerce industry is likely to rise to US$ 188 billion by 2025, up from US$ 46.2 billion in 2020. Furthermore, according to RationalStat's internal analysis, the burgeoning Indian e-commerce sector has moved towards consolidation and saw as much as US$ 2.1 billion in mergers and acquisitions in 2017 following some mergers and acquisitions by industry moguls. For instance, in May 2018, Walmart acquired Flipkart for US$ 16 billion. The e-commerce grocery market is also rising with a healthy CAGR of 57%.

Government to Launch Open Network Digital Commerce

The Department for Promotion of Industry and Internal Trade (DPIIT) is planning to use the Open Network for Digital Commerce (ONDC) to set protocols for cataloging, vendor discovery, and price discovery in order to provide equal opportunities to all marketplace players to make the most of the e-commerce ecosystem in the larger interest of the country and its citizens.

The ONDC platform will enable buyers and sellers to engage with each other and transact online. The Indian government has been focusing on the development of ONDC platform to challenge Amazon and Walmart's dominance in the Indian market. With the introduction of ONDC in May 2022, the government hopes to encourage an open platform for the electronic exchange of goods and services. The move will aid in dealing with issues like predatory pricing, deep discounting, and collusion with corporate sellers. The open network platform will debut in five locations: Delhi NCR, Bengaluru, Bhopal, Shillong, and Coimbatore, with plans to expand to other cities later.

ONDC Will Push Small and Mid-Size Retailers to Engage Online

Traditional retailers and merchants are aware of how quickly things could change and do not want to be locked out or priced out. RationalStat expects that online retail currently accounts for around 6% of India's overall retail sector. With the launch of ONDC, traditional retailers and merchants can penetrate the online marketplace and explore a plethora of business opportunities. The following advantages can be attributed to the launch of ONDC:

Consumers can potentially discover any vendor, product, or service through this platform by using any ONDC-compatible application or platform, giving them more freedom of choice.

Transparent standards, light investment, and lower business acquisition costs are projected to help businesses. It is also envisaged that time-to-market and time-to-scale will be significantly reduced.

Support by Public and Private Stakeholders

Around 80 companies are working to connect market participants to the ONDC platform. Enterprise software and apps are created by these companies for vendors, buyers, logistics platforms, and payment gateways. Several public and private sector institutions have invested in ONDC, including HDFC, Kotak Mahindra, Axis Bank, State Bank of India (SBI), and Punjab National Bank (PNB). PNB had previously declared its intention to purchase a 9.5% stake in ONDC in November 2021. According to the Government of India, banks like the State Bank of India, ICICI Bank, and Bank of Baroda have already pledged a total of INR 2.55 billion.

Key Takeaways in the Indian E-commerce Sector:

In 2021, India's e-commerce sector attracted US$ 15 billion in PE/VC investments, up 5.4 times from the previous year. This is one of the greatest investment values ever obtained by any Indian sector.

Amazon India introduced the One District One Product (ODOP) mart on its platform in February 2022 to help Micro, Small, and Medium Enterprises (MSMEs).

Flipkart announced a "sell back scheme" in February 2022 to enable smartphone trade.

Road Ahead

The Indian e-commerce sector has been on the rise, and technology-enabled innovations such as digital payments, hyper-logistics, analytics-driven customer engagement, and digital ads are expected to help the sector flourish. ONDC's three key features namely dynamic pricing, inventory management, and delivery cost optimization, all of which will assist cut the cost of doing business for everyone, including merchants. In the long run, the rise of e-commerce including through the ONDC platform will improve employment, raise export earnings, increase tax collection by exchequers, and give better products and services to customers.

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How will the Open Network for Digital Commerce (ONDC) help flourish the Indian E-Commerce Market? | RationalStat

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In India, e-commerce is changing the way people do business. Increased internet and smartphone penetration can be attributed to the e-commerce industry's rise. According to an IBEF report, the 'Digital India' program increased the number of internet connections to 830 million by 2021. The number of enterprises conducting business in the virtual world has risen...

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AI technology is making a way in the manufacturing sector, with its varying applications in every manufacturing industry, ranging from automotive to pharmaceuticals. The machine learning technology and pattern-recognition software act as the key to transforming manual factories units into AI manufacturing units. In the manufacturing sector, AI assists in organizing data, visual inspection, predictive maintenance, quality control, shortening design time, reducing materials waste, improving production reuse, assembling, and transforming predictive analysis in the manufacturing tasks. The global AI in manufacturing market was valued at nearly $2.0 billion in 2020 and is expected to grow at a robust pace over the forecast period.

A significant rise in big data has contributed to the adoption of big data analytics in manufacturing. With the growing digitalization across the globe, big data is on a continuous rise. Big data is quickly becoming a significant element of the fourth generation of ERP (Enterprise Resource Planning) technology. Big data's ability to engage data, people, and processes is assisting in creating a new era for manufacturing. Further, the rising demand for human-robot collaboration in the manufacturing sector for overall cost reduction is substantially driving the market. Robots are playing an imperative role in the manufacturing sector. The rise of AI industrial robots witnessed a hefty expansion in developed countries and certainly seems to be inevitable, being driven by a range of production demands, including continued adaptation to the proliferation of automation and the IoT, increased resource efficiency, and the need for safer and more simplified robotic technologies to work in collaboration with humans.

Predictive maintenance application dominates the market while quality control application is growing rapidly

Maintenance is a key area that drives major cost savings and production value in every manufacturing sector. AI and advanced analytics can play a powerful tool for predictive maintenance. It refers to analyzing attributes of components along with production parameters at different timeframes, with which the system gains insights about when a critical failure is expected to occur. AI predictive maintenance enables manufacturers to save a large number of resources by reducing downtime to a minimum. Moreover, AI-based quality control applications have been gaining traction in recent years. AI quality control and reclamation are finding applications in the automotive industry. For instance, the optical inspection solutions are developed by Isra Vision, which makes it possible to automatically detect surface irregularities, whatever color or type of paint is used. Further, the application of AI in supply chain related-tasks holds great potential for boosting bottom-line and top-line manufacturing value. AI can revolutionize the optimization and agility of supply chain decision-making. The intelligence in shipping has become a center-stage kind of focus within SCM in recent years. Faster and accurate shipping possibly reduces lead times along with transportation expenses, reduces labor costs, and, most important of all, it widens the gap between competitors.

Global AI in Manufacturing Market: Regional Outlook

North America is leading the global AI in manufacturing market in 2022. The market growth is attributed to the contribution of the major economies, including the US and Canada. The market in the US is growing due to the rising manufacturing sector coupled with the government efforts to promote the implementation of AI. For instance, in February 2019, the US president signed an executive order for the American AI initiative. Further, there is a rising need to meet the increasing demand for high efficiency in the manufacturing sector, further strengthening the market share in the region. Moreover, Europe is expected to contribute significantly to the global market on account of factors such as the presence of major market players, well-developed automotive, industrial equipment, and pharmaceutical industries, fast adoption of new technology, and significant adoption of industrial robots. Additionally, the Asia Pacific region is expected to observe the fastest growth rate due to the increasing R&D and investments by big pharmaceutical companies in life science research coupled with harnessing innovation, which spurs the growth of AI-based manufacturing in the healthcare industry. Further, the advancement in consumer electronics, growing automotive production, and the significant growth of major economies, such as China, India, Japan, and South Korea, will further boost the growth of AI in manufacturing in these industries.

Competition Landscape and Key Market Developments

The global AI in manufacturing market is fragmented in nature with the presence of various players operating in the market. Some of the prominent players that contribute significantly to the market growth include NVIDIA Corp., IBM Corp., Intel Corp., Siemens AG, General Electric Company, Alphabet Inc. (Google LLC), Microsoft Corp., Micron Technology Inc., Amazon.com Inc. (Amazon Web Services Inc.), Oracle Corp., SAP SE, Cisco Systems Inc., Mitsubishi Electric Corp., Salesforce Inc., and SparkCognition among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Acquisitions and product launches are among the key strategies adopted by major industry players. For instance,

In January 2022, the GeForce RTX 3050 product was launched by NVIDIA Corp. GeForce RTX 3050 product brings next-generation graphics and AI to games. Ray tracing technology is equipped in the RTX line-up for real-time, cinematic-quality rendering. Moreover, features such as deep learning super sampling and boosts frame rate are also equipped in this product.

In December 2021, IBM Z and Cloud Modernization Center digital platforms were launched by IBM. These platforms offers a wide range of tools and resources, as well as ecosystem partners, which enable users to accelerate the modernization of data, processes, and applications in an open hybrid cloud architecture.

In November 2021, Mitsubishi Electric Corp. and the National Institute of Advanced Industrial Science and Technology (AIST) announced that they have developed an AI technology that predicts changes during automated manufacturing processes and then makes real-time adjustments in the factory automation (FA) equipment, such as motion speeds, etc., during operation. In addition to eliminating the need for time-consuming manual adjustments, the AI estimates the confidence level of inferences regarding factors such as machining error and then controls the FA equipment based on suitable levels of confidence. The technology is expected to lead to more stable, reliable, and productive operations, particularly in agile manufacturing.

Key Market Segmentation

RationalStat has segmented the global AI in manufacturing market on the basis of component, deployment model, technology, application, end-user, and region.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

Defining the problem by understanding the type of market and data required by the client.

Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.

Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.

Evaluating and analyzing the data by referring to data sources utilized and leveraged.

Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Secondary Sources

Annual reports, company filings, investor presentations, product catalogs, industry associations, and company documents

Industry and market-related documents available in the public domain

Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others

Whitepapers, research papers, and industry blogs.

Why Buy this Report?

The report is intended for AI in manufacturing service providers, automotive organizations, consumer electronics manufacturers, packaging companies, food & beverages manufacturing companies, government organizations, market educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.

Table of Contents
Robust assessment of various factors including industrial performance, technological adoption rate, economic conditions, industry expenditures, among others
8.1.3. Rolls-Royce Motor Cars Ltd.

9.1.3. Healthcare & Pharmaceutical

9.1.4. Semiconductor & Electronics

9.1.6. Others (Textile, Aerospace & Defense)

9.2.2. Europe (Western and Eastern)

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Global AI in Manufacturing Market | RationalStat Store

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AI technology is making a way in the manufacturing sector, with its varying applications in every manufacturing industry, ranging from automotive to pharmaceuticals. The machine learning technology and pattern-recognition software act as the key to transforming manual factories units into AI manufacturing units.

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Globally, the image recognition market for AI is expected to grow at over 22% in the period of 2019–2027. The potential uses of AI in the automotive, banking, healthcare, security, and retail industries are responsible for the growth of the market for AI image recognition.

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Global AI in Image Recognition | RationalStat Store

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The global AI in the image recognition market is estimated to witness a robust growth rate of over 22.3% over the period of 2019-2027. The substantial rise in the value of global AI in the image recognition market is driven by its potential application in a wide range of industries such as automotive, banking, financial services and insurance (BFSI), healthcare, security, and retail.

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Indonesia is the world's largest supplier of palm oil, so its absence from global markets is a big deal. In a time when food prices are already being squeezed,

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Global 5G Infrastructure Market | RationalStat Store

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Increasing demand for high-speed data with low latency is driving the 5G infrastructure market

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Like neurons in the brain, the neurons in the neural network system are interconnected to find solutions to complex issues and problems.

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The aspect of modern-day manufacturing processes is changing at a faster rate and becoming far more sophisticated than ever. There have been significant changes in manufacturing environments arising from a paradigm shift in customer demand and a shorter product life cycle. This has necessitated a higher level of manufacturing technology that can respond to changes in nature. In recent years, neural networks have emerged as a truly strong solution to address the changing demands and move manufacturing technology into a new era of intelligent manufacturing.

Notable Characteristics to Sway the Market, primarily benefitting the Manufacturing Sector

The industrial sector's growing complexity and volatility necessitates better decision-making, assuring low operating costs, higher productivity, and resource sustainability. With the introduction of new methods and techniques, there has been a recent surge in the market for using artificial neural networks in manufacturing. Today's technology enables people to benefit from computer precision through processing with both static and adaptive decision-making factors. Neural networks are computer systems made up of interconnected nodes that function similarly to neurons in the brain. In unstructured decision issues, artificial neural networks have the intrinsic ability to interpret the most ambiguous and complex patterns. ANN can discover hidden patterns and correlations in raw data using algorithms, cluster and categorize it, and learn and improve over time. Following are some of the notable characteristics of the ANN:

Artificial Neural Network in manufacturing helps in performing advanced analytics for providing early warnings. Predictive analytics having inbuilt AI allows engineers to quickly combine and evaluate large amounts of data, and detect difficulties in the early stages of development, allowing engineers to take proactive steps to enhance outcomes.

ANN enables to detection of future trends faster and more precisely with unique algorithms, ensuring continuous product quality by automatically monitoring the health of all manufacturing processes.

The leaders of today aspire to be the vision of change. They are focused on innovating and introducing efficient and reliable means of producing and moving physical goods while considering factors other than productivity, cost reductions, and risk reduction. Manufacturers must become flexible, adopt AI-driven business processes that avoid risk, and adopt groundbreaking technologies through deep operational insights and assured decision making to survive in the future. Manufacturers will be able to customize manufacturing operations to minimize cost and risk while harnessing data as an asset to generate innovative services and high-quality items that are only possible in a connected economy.

"Defense and Aerospace sectors are touted as the early adopters of ANN"

ANN Market to Gain Popularity during Forecast Period

Moreover, ANN is gradually gaining popularity as its broad list of benefits is too compelling for businesses to ignore. Due to its growing popularity, the techniques and models used in it are becoming standard tools in information engineering and project management. The manufacturing industry is expected to grow at a robust CAGR throughout the forecast period due to the increasing demand for estimating the mechanical properties of packaged foods based on provided technological data. According to the RationalStat Analysis, the global Artificial Neural Network (ANN) market is projected to grow at a CAGR of more than 20% over the period 2022-2028 to reach more than US$ 500 million by 2028.

The COVID-19, having positively impacted the growth of ANN, has made businesses realize the significance of AI, Machine Learning, and Cloud computing, and how these technologies can further help them recover from the impact of pandemics and drive automation in the future. This is also expected to fuel the adoption of ANN in the manufacturing sector.

Road Ahead

However, the use of ANN-based intelligence machines is still in its development stage and is expected to evolve rapidly. As per the Lead Analyst at RationalStat, Artificial Neural Network will not replace conventional computers or remove programming, rather neural networks will complement the already established technologies. ANN will be coupled with traditional computer techniques and other AI schemes, such as knowledge-based expert systems, to create smart industrial systems.

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Artificial Neural Network (ANN) is Revolutionizing Manufacturing Process

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Artificial Neural Network (ANN) in manufacturing helps in performing advanced analytics, enables detection of future trends, and many more.

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Vegan food may impact processed meat market

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Vegan food may impact processed meat market

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The processed meat market is facing rapid changes because of human behavior and market trends. The immediate hit is due to vegan food growth. Yet, meat consumption is still prevalent among a large segment of the population.

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The face of the processed meat industry is changing rapidly in the wake of many emerging trends and transformations in human behavior. Manufacturers are swapping their conservative approach with innovative solutions to maximize productivity and revenue. Therefore, the in-depth analysis of the global processed meat market became an important vector.

The Prevalence of Processed Meat Market

The immediate hit in the processed meat market is that many people turn vegan every day, hence booming the vegan cheese market. However, a massive chunk of the population is holding on to meat products, making the global processed meat market going strong. There is a surging emphasis on innovating nutrition-packed foods. Also, there is a need to be transparent about how processed meat products are made and where it comes from? The reason behind this idea is the growing prevalence of plant-based meats globally. Otherwise, the aggressive promotions of plant-based burgers and nuggets will reduce the processed meat market base. As a result, along with loading the packaged products with multitudes of vitamins and nutrients, they are packed with different marinades, spices, and seasonings to offer enhanced texture and flavor.

Impact of COVID-19 on Processed Meat Market

The outbreak of COVID-19 made market players more comfortable with the online business, and this radical shift is likely to flip the market landscape in the forthcoming years. Additionally, it is critical for a company to have an online presence to keep it afloat, particularly after the COVID-19 outbreak. Therefore, the growing number of processed meat vendors are adopting software solutions that can help them align their business with modern-day demand. Giant QSR chains like McDonald's, KFC, Subway, etc., were shut down during the pandemic, but their online service continued.

Leveraging Technology to Expand the Market

Adopting advanced technology like artificial intelligence will expand the market base globally. Artificial intelligence will help address the rising concerns of people regarding the quality of raw meat products - shape, size, color, marks, disease, health defects, etc. It will further inspect every ingredient going into effect. As a result, it improves food safety and customer satisfaction.

Factors Driving the Growth

RationalStat expects the global processed meat market to reach US$ 497 billion with a healthy CAGR of 4.7% by 2030. Some other critical factors like government efforts to lower the rising meat products prices, the growing integration of automation & other remote technologies, product differentiation & innovations, the busy lifestyle of people, the increasing inclination of people towards processed and ready to eat food, surging investments of hundreds of millions of dollars to fierce the competition in the market are driving the growth of the global market. Poultry and pigmeat account for more than 75% share of the global processed meat market in terms of livestock type.

However, the rising health concerns associated with processed meat consumption, disruptions in the supply chain, and the high cost of finished products are a few restraining factors that need to be addressed comprehensively to navigate successfully in the global processed meat market. Moving ahead, it is essential to note that the top ten leading companies in the processed meat market have their headquarters in just five regions: Brazil, the US, China, Japan, and Europe. The market is dominated by prominent giants in the US, including JBS, Tyson, Cargill, and National Beef, with a mammoth share of nearly 80%. Therefore, these companies leverage their power over farmers and consumers in price development. JBS controls the global processed meat market with more than 400 production plants from a global perspective. In addition, China leads the market in pigmeat production because of its lower price than beef and poultry. Some of the leading market players in the global processed meat market include Tyson Foods, Cargill, Hormel Foods, JBS, Ostankino Meat Processing Plant, Australian Meat Group, Shuanghui Group (WH Group), COFCO Meat, Agrosuper, Mafrig, Dawn Meats, LDC, Plukon Food Group, Gruppo Veronesi, among others.

The Final Word

The repertoire prepared by RationalStat covers all the radical approaches to guide our users to transform obstructions into opportunities. RationalStat is a leader in advanced formative research, and our customized report covers macro & micro-economic factors and product trend analysis. Furthermore, we offer dashboards, product analysis, competition assessment, and trend projection methodologies to estimate future market growths.

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Growth of Vegan Foods to Impact Processed Meat Consumption

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The face of the processed meat industry is changing rapidly in the wake of many emerging trends and transformations in human behavior. Manufacturers are swapping their conservative approach with innovative solutions to maximize productivity and revenue. Therefore, the in-depth analysis of the global processed meat market became an important vector.

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The Carbon Nanotube Market has shown tremendous growth in recent years. Among other industries, nanotubes are used in the medical, chemical, electrical and food industries.

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The carbon nanotubes market is in tremendous consideration these days. Its physical and concoction properties have expanded the scope of carbon nanotubes in different sectors - medical, chemical, electrical, food, energy, and others. The market is likely to surpass the tipping point, with the latest research highlighting its capacity to grow indefinitely in the forthcoming years. Notably, carbon nanotubes have primarily been utilized in limited applications and relatively low supply until now. The upcoming years are expected to see a significant shift in the commercialization of carbon nanotubes (CNTs).

Applications of Carbon Nanotubes

Carbon nanotubes (CNTs) hold the potential to be the building blocks of futuristic technologies. Therefore, the new and established manufacturers have experience with these carbon nanotubes to harness the power of materials science and technology to swipe considerable profits in the global carbon nanotubes market. The ongoing research activities will foster several new applications of CNTs in the market. For instance, nowadays, emphasis is laid on lowering the cost of final products. The complex manufacturing process of CNTs makes the final product expensive, and therefore efforts are made to make them more viable commercially. CNTs are increasingly used in the biomedical sector for major functions like drug delivery, body implants, tissue engineering, etc.

Rise of the Market

As the market becomes more fluid, RationalStat expects the global carbon nanotubes market to reach US$ 103.2 million by 2030 with a healthy CAGR of 16.3%. The team has analyzed that by considering the sales volume, price, adoption levels, and market consolidation, the global carbon nanotubes market will exceed 68,000 tons of annual demand by 2030. The bulk production of polymers owing to its growing application in the automotive and construction sector, particularly in growing economies like China and India, is driving the industry growth impressively. Additionally, the advancing regulatory framework globally promoting nanotechnology at domestic levels will accelerate the development of carbon nanotubes. Also, the growing initiatives by governments globally to encourage the adoption of wind energy will further strengthen the demand for CNTs in the forthcoming years.

Carbon nanotubes are of two types - single and multi-walled nanotubes. However, the single-walled nanotubes segment alone is expected to reach US$ 62 million by the end of 2022. Such impressive growth exhibited by the single-walled segment is due to its lower cost when compared to the multi-walled nanotubes.

The growing emphasis on energy generation through clean sources like wind and solar further offers ample impetus to the growth of the global market. Also, CNTs became an ideal material in the energy sector for manufacturing the turbine blades to improve their mechanical strength to extend their service life. Furthermore, the lithium-ion battery is finding several applications in renewable energy storage. The product will penetrate deep into the application sector, fostering the global carbon nanotubes market growth.

The Final Word

The global carbon nanotubes market is taking a giant leap and is expected to offer lucrative business opportunities in the coming years. But the environmental regulations and high costs are some of the factors hampering the market's growth. Also, the surging demand for other nanomaterials like metal oxides other than the carbon counterparts may further restrict the market. Globally, China and the US spearhead the global carbon nanotubes market in terms of production, and however, Japan is one of the leading consumers of carbon nanotubes. Leading players in the global carbon nanotubes market include Cheap Tubes, Grafen Chemical Industries, Otto Chemie, Meijo Nano Carbon, TIA, and Nanocyl, among others.

The market intelligence report curated by RationalStat offers a comprehensive study on the global carbon nanotubes market. Furthermore, our report outlines the current and expected trends and market estimation to help users develop effective business strategies. The report gives a clear view of upcoming investments and the market leader's perspectives to enhance the customer experience.

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Commercial Adoption May Disrupt Global Carbon Nanotubes Market

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The carbon nanotubes market is in tremendous consideration these days. Its physical and concoction properties have expanded the scope of carbon nanotubes in different sectors - medical, chemical, electrical, food, energy, and others. The market is likely to surpass the tipping point, with the latest research highlighting its capacity to grow indefinitely in the forthcoming years.

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Why should Market Research should be prioritize by business?

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Why should Market Research should be prioritize by business?

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Data and research on the market have been available for decades. There has always been a focus on understanding the target industry and client's needs. The role of market researcher is to alter all the information and data available and make it useful for the companies to know the market predication, trends, and insights.

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Should Market Research be a Priority for Businesses?

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Market research and data have been around for decades in one form or another as there has always been an effort to understand target areas and customers. The role of effective market research in helping business decisions through the objective and systematic collection, manipulation, and insights of data.

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During the past two decades, global IT investment has grown in India. This includes the two years of global pandemics that caused India's IT sector to suffer huge losses. The global tech companies don't want to miss the fastest growing market.

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IT services in India were pioneered by the yesteryear business and industrialist stalwart Sir JRD TATA. He envisioned and had the foresight of the importance of an IT company based in India. Thus, foresightedness stuck and due to his visionary outlook, Tata Consultancy Services (TCS) was born. The crown jewel not only of the Tata Group but of India as well.

The Indian IT boom had enormous growth in the last 2 decades which is specified during the period of the 2000s to the 2020s. Today, India has 3 gigantic organizations in IT viz., TCS, Wipro, and Infosys. These three companies are the flag bearers of the Indian IT services market in the recent few decades.

Rise of the Indian IT Ecosystem

The global IT spending of the Indian IT ecosystem (CAPEX) in the past 2 decades has witnessed a significant rise in the market share. According to the study, there had been a 2.5% share for the same in 2001 when compared to the tremendous 19.2% share in 2021. This includes 2 years of the global pandemic that accrued to huge losses in the Indian IT services market. The numbers would have been anywhere between 22%-25% with an optimistic outlook.
Also read: Virtual Assistants to Create the Next Multibillion-Dollar Market
This has shown a lot of promise and potential by the foreign IT players and investors looking for diversification in the market. The YoY growth is quite positive when compared to most of the matured or saturated markets.

Quality Availability of Software Developers in India

The most important factor of all is the quantum and size of the most efficient developers with a highly cheap pay scale as per the global standards for MNCs to invest in India. The cost savings with the influx of the huge number of IT graduates that are readily available for foreign players is a huge capital gain in itself. The average salary in India for a software developer is around US$ 9500 while for the same qualification and experience it is US$ 266,000 in the US. This is almost nothing but 28% lower than the global average. In perspective, US$ 9,500 should be INR 750,000 when compared to INR 19,000,000.

The Indian IT service market size gets a huge boost over a period of time by having a skilled workforce for the companies to get absorbed. The state and the central government are set to benefit massively in economic terms. This on the other hand is a huge cost saving for the MNCs where efficient employees can be payrolled. This is the major reason that the Indian IT services market is quite lucrative for global players to start a shop and set up their global bases.

New-Age Tech Startups in India

India has witnessed a huge number of tech startups that are further growing at a significant pace in an ever-changing dynamic economy. The Indian IT services market is an industry that is absorbing talented and low-cost efficient candidates and is very important for the government and its scheme of things.

India has 65 unicorns and the total valuation is around US$ 288 billion. 44 unicorns out of the total are valued at around US$ 91 billion from the last year that is 2021. 4 unicorns valued at around US$ 4.7 billion are from 2022 itself. This data presents that India is leading the tech startup industry and is becoming the leading destination for global investment in the Indian IT sector.

This shows an almost 66% of YoY growth in the unicorn tech startup ecosystem being added to the Indian IT sector, specifically after the year 2017.

Changing government policies and formulating more suitable policies for the industry as a whole.

SaaS is one vertical in the Indian IT sector that is looking quite promising for the future.

The future of the IT sector is not only looking promising but is ripe for significant investments and growth trajectory. The government in India with its go digital push, and a new impetus and outlook for the sector are what is lucrative for the global and domestic players. Indian IT players are looking to spread their wings into more mature markets with their pool of talent, diversity, and work ethic.

On the other hand, the global tech companies do not want to miss the fastest growing market (India) and the fastest-growing region (APAC) to increase their probability.

The demographic dividend in sheer economic terms and the magnitude of which India possesses at present is unparalleled and should be capitalized by both the Indian and the global players.

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Indian IT Services Market Share to Witness a Rise in Last 2 Decades

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IT services in India were pioneered by the yesteryear business and industrialist stalwart Sir JRD TATA. He envisioned and had the foresight of the importance of an IT company based in India. Thus, foresightedness stuck and due to his visionary outlook, Tata Consultancy Services (TCS) was born.

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People are switching to vegan foods ( plant based) as they become more health conscious and more concerned about the environment. 

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With the dairy alternatives market booming, environment and health-conscious consumers seek plant-based cheese, butter, yogurts, and milk. Derived seeds, legumes, cereals, and nuts, plant-based dairy alternatives continue to grow worldwide. According to RationalStat, the global dairy alternatives market is estimated at US$ 22 billion in 2021 and is expected to grow considerably. Whereas, the global vegan cheese market size is foreseen to reach US$ 6 billion by the end of 2028, registering a tremendous CAGR of 13%.

One of the primary raw materials used to produce dairy alternatives for cheese is cashew. Cashews have been used in vegan cheese since 2014 are chosen for their creaminess and other ingredients that are added to achieve different flavors. It is imperative that regions growing cashews including Africa and India get a competitive advantage in producing vegan cheese. Moreover, almond, soy, and coconut are the preferred dairy alternatives across Europe and the US. Additionally, shredded cheese, cheese slices, specialty cheese, and cheese blocks are the different types of vegan cheese available in the market.

The Shift in Consumer Preference to Augur the Demand for Vegan Cheese

Consumers are increasingly moving to vegan diets, seeking dairy alternatives for cheese, as interest in health, sustainability, and environmental protection continue to swell across the world. The high growth of fast-food consumption is expected to result in increased consumption of vegan cheese in the near future. In addition, the growing acceptance of veganism among consumers worldwide, especially among millennials, has been fuelling the vegan cheese market.
Also read: Chocolate Industry Facts
Start-ups to Play a Pivotal Role in the Development of Dairy Alternative for Cheese

US-based Miyoko's Creamery and Upfield (Violife), New Zealand-based New Culture, Sweden-based Stockeld Dreamery, Germany-based Formo, and Australia-based Grounded Foods are the leading and growing companies in the global vegan cheese market.

Europe Leads the Global Vegan Cheese Market

Europe dominates the global vegan cheese market share, followed by North America. Europe's market is expected to continue leading the global vegan cheese market. By 2028, RationalStat expects Europe to hold nearly 40% of the overall market. With over 40 brands in the market, Germany is leading the vegan cheese sales in Europe, registering strong sales of US$ 50 million in 2020. Following the vegan cheese market surge, the largest domestic dairy cooperative in Germany - DMK Group moved into the dairy alternatives for the cheese market in 2021.

Furthermore, Asia Pacific (APAC) suffered a significant drop in vegan cheese sales during 2020 and has not recovered to pre-pandemic levels due to the negative performance of milk alternatives in China. In the APAC region, plant-based protein in dairy alternatives is not considered as nutritious as animal protein, therefore hampers the growth of the vegan cheese market.

What is Next in the Global Vegan Cheese Market

In the buoyant dairy alternatives for the cheese market, steps are being taken toward improving nutritional properties to compete with dairy. Many companies are striding in the vegan cheese market by adopting inorganic growth strategies. An increase in per capita spending by the consumers to support growth in this market over the coming years. Activities linked with research and development propel the introduction of new products related to vegan cheese.

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Global Vegan Cheese Market to Reach US$6 Billion by 2028

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With the dairy alternatives market booming, environment and health-conscious consumers seek plant-based cheese, butter, yogurts, and milk. Derived seeds, legumes, cereals, and nuts, plant-based dairy alternatives continue to grow worldwide. According to RationalStat, the global dairy alternatives market is estimated at US$ 22 billion in 2021 and is expected to grow considerably.

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Decarbonizing the aviation industry will continue to be a challenge. Hydrogen in liquid form does not require heavy tanks and is cheaper than e-kerosene. It also cut carbon dioxide emissions. The global aviation industry is trying to reduce emissions by 2050.

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Liquid Hydrogen to be Used as an Aircraft Fuel

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Liquid Hydrogen is a zero-emission technology that reduces aviation’s climate impact. Thus, it will be used as an aircraft fuel.

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It is expected that virtual assistants will reach $30 billion by the end of 2026. The market is expected to be multibillion-dollars in the future.

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Virtual Assistant : Next Multibillion Market

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Virtual Assistant : Next Multibillion Market

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A Virtual Assistant is a remote assistant designed to provide creative, administrative, technical, and ad-hoc support services for businesses or individuals. The industry is booming and expected to reach US$ 30 billion by the end of 2026, mainly driven by transitioning companies to an online presence and the shift in people working from home. Business owners and corporates also recognize the value of scale and outsourcing to a virtual assistant. There's no doubt that this market will create the next multibillion-dollar marketspace. The following reasons predominantly support the rise of the market:

Reduce overhead costs by cutting taxes, benefits, employee wages, or office expenses.

Scalability by allowing businesses to adapt to and grow- without any glitches or constant updates.

Increased efficiency by providing freedom to companies to focus on more significant priorities.

Availability of virtual assistants when you need them.

Virtual assistants are software that reads your email to schedule meetings, manages social media, plays music on-demand, navigates the internet, and many more.

Market Trends:

1. Enterprises are building virtual assistants using a conversational interface capable of using voice technology and natural language processing to address customer requests. Features associated with are integrated with mobile and computer applications to provide a superior experience to customers.

2. They are supported with a mechanism of predictive analytics, which ensures that the database is updated after every customer interaction. The virtual assistant accesses the database to improve customer responses based on past customer interactions.

3. Businesses are deploying voice-based virtual assistants as an extension to their departments such as customer support, marketing, etc. These assistants provide customers with a burden-free product purchasing process, requesting information, registering a service request, etc.

4. Many companies are increasingly using virtual Assistants to sell services through cross-selling and upselling. They help identify customer patterns and preferences, thereby offering relevant services to the new customers.

Intelligent Virtual Assistant (IVA)

The IVA is machine learning and AI-powered software that allows customers to quickly complete tasks and find relevant information based on previous conversations, location, and personal data. Intelligent virtual assistant platforms utilize natural language processing to understand spoken words and the text similar to humans.

Amazon's Alexa, Apple's Siri, Google Assistant, IBM's Watson, and Microsoft's Cortana are the best known intelligent virtual agent applications to provide customer service. IVAs provide an essential service layer for many companies. Through quick and successful customer resolution, a smart assistant offers a better customer experience than traditional chatbots. They also reduce the volume of customers who need to speak with an operator while still having a positive user experience.

Intelligent virtual assistants are deployed across various industries, including healthcare, automotive, retail, e-commerce, among others to help customers and employees. The application of IVAs includes accelerating online sales, collections and contact centers, and customer relations support.

The global intelligent virtual assistant market is likely to grow considerably owing to the business advantages associated with it. According to RationalStat, AI-enabled virtual assistants could save nearly 30 billion customer service hours and revenues worth US$ 8 billion. Large, Mid, and small-sized enterprises will continue to experiment with chatbots and virtual assistants as they look to balance better customer service with operating margins.

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Global Intelligent Virtual Assistants to Create Next Multibillion Dollar Market

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A Virtual Assistant is a remote assistant designed to provide creative, administrative, technical, and ad-hoc support services for businesses or individuals. The industry is booming and expected to reach US$ 30 billion by the end of 2026, mainly driven by transitioning companies to an online presence and the shift in people working from home.

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Procurement Market Intelligence for Supply Chain To make effective sourcing decisions, RationalStat considers supply and demand market information Professionals

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Being the market research and procurement specialist, RationalStat recognizes the importance of having timely and exact supply and demand market intelligence for sourcing-related decision-making. Access to accurate, timely, actionable supply chain and procurement intelligence offers strategic leverage to the category leader. Lack of its intelligence exposes firms to substantial market and sourcing-related risk.

RationalStat's team comprises 30+ experts and analysts. It supports chief purchasing officers, procurement managers, and supply chain professionals through custom-tailored procurement research deliverables and engagement models.

RationalStat's Procurement Market Intelligence Offerings

Procurement market intelligence is imperative, and the costs of poor procurement intelligence, whether direct or indirect, can be high. Robust supply chain intelligence help answer essential questions for purchasing and procurement managers regarding suppliers, distributors, sales channels, sourcing tactics, and supply chain management.

Procurement research is not just about enhancing profit margins and savings costs but can be applied to expand market shares, mitigate risks, improve competitive positioning, and bring about more significant innovation. Our solutions give real-time insights, and the client gets a conclusive competitive edge when confronting practical concerns and big problems.

Market Research and Analytics

Data are only as helpful as the conclusions that stakeholders can draw from them. Procurement market intelligence solutions are designed to analyze the data by producing reports and graphs after analysis. Market research analytics supports intelligent and informed decision-making. Under market research and analytics solution, RationalStat provides market research, market sizing, data forecasting, go-to-market strategy, competitive assessment, market share analysis, trends analysis, and company profiles.

Supplier Intelligence and Sourcing

The volatility associated with the political environment, geopolitical situation, and industrial force majeure has increased substantially and resulted in disruption. The degree of unpredictability translates to a ripple effect on the supplier side regarding shipments and production. RationalStat's supplier intelligence solutions deal with formulating an effective strategy, including an alternative supplier, e-sourcing, technological integration, competitive positioning, and matrix cards. Category managers can use our state-of-the-art solutions to evaluate market data with intelligence to arrive at an apt solution that can add value to the organization by making a more informed and relevant decision.

Pricing Trends and Intelligence

Intelligence on price trends of commodities, services, and materials plays a crucial role in the strategic plan of businesses and procurement teams. In the last couple of years, supply chain disruptions due to the COVID-19 pandemic have caused unprecedented price volatility and challenged the basis of commodity price forecasting. RationalStat pricing trends and intelligence solutions provide data related to price movements for an extensive array of commodities and materials.

Spend Analysis

Spend analysis helps procurement professionals and supply chain managers identify, categorize, consolidate, cleanse, analyze the spend, and enable improved strategic decisions. RationalStat's solution for spend analysis unlocks a growth avenue for organizations, allowing their supply chain and subsequent business growth. While doing spend assessment, RationalStat involves identifying the expenditure source, gathering the relevant data, data cleaning to eliminate errors, consolidating the suppliers, categorizing the spend, and analyzing the spend.

Risk Monitoring and Mitigation

The supplier's stability is at the forefront for the buyer when it comes to fulfilling the demand. Sound procurement market research provided by RationalStat ensures and informs the buyer about the risk factors associated with a supplier. For instance, a supplier offering attractive rates may be located in a politically unstable region and prone to unforeseen disruptions. A supplier situated in a more stable environment may be less risky in the longer run.

RationalStat strategically places itself to cater to global, regional, and local clients with actionable data, analysis, and key takeaways on the market, price, contract, and vendor management.

Visit Procurement Research to learn more about RationalStat's offerings or directly get in touch with us.

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Procurement Market Intelligence for Supply Chain Professionals

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Being the market research and procurement specialist, RationalStat recognizes the importance of having timely and exact supply and demand market intelligence for sourcing-related decision-making. Access to accurate, timely, actionable supply chain and procurement intelligence offers strategic leverage to the category leader. Lack of its intelligence exposes firms to substantial market and sourcing-related risk.

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Worldwide, chocolate consumption is very large, which indicates that it is a large industry. Chocolate is enjoyed by people of all ages. Globally, approx. 1 kilogram of chocolate per person is consumed each year. Switzerland consumes the most chocolate. Farmers earn only $1 a day from the chocolate business, despite its boom.

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Chocolate Industry Facts, Statistics and Market Trends

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The global chocolate consumption was estimated at 8 million tons in 2021 and the global per capita chocolate consumption stands at 0.9 kg per year. Chocolate is one of the favorite foods, and the global chocolate market is worth US$ 105 billion. Here are five essential facts and statistics about the chocolate industry assessed by RationalStat.

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Manufacturers have always adopted the latest technologies, and several trends are altering the manufacturing sector towards Industry 4.0, especially IIOT, Digital twin, Predictive Maintenance, and 5G edge computing.

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The manufacturing industry always remained a key adopter of the latest technologies and innovations. The manufacturing sector has evolved over the centuries, from manual and human-controlled methods to machine-based assembly lines to highly automated factories. A number of ongoing trends are combining to transform the manufacturing sector and can be referred to as Industry 4.0. RationalStat has explored the 8 biggest trends that are supporting Industry 4.0

1. Industrial Internet of Things (IIoT):

Internet of things in industries, where interconnected devices are used in industrial settings and manufacturing establishments to collect data that can then be used to enhance the manufacturing process. Examples of these interconnected IIoT devices include sensors, devices, machinery/equipment, and the software that powers them. In 2021, the global Industrial Internet of Things (IIoT) market is estimated at nearly US$ 200 billion. Some of the best IIoT providers include ABB, Cisco, Huawei, Intel, among others.

2. Predictive Maintenance

With the advent of industry 4.0, Predictive maintenance (PdM) aims to empower companies to maximize the useful life of machine and equipment parts while minimizing planned downtime and avoiding unplanned downtime. Predictive maintenance utilizes artificial intelligence (AI) and sensor data to detect failure patterns in components and machinery. According to the study by RationalStat, notable predictive maintenance providers include ABB, SKF, Siemens, IBM, Microsoft, GE, Amazon, among others. Importantly, in 2020, e-commerce giant Amazon announced predictive maintenance offerings to foray into the lucrative market.

3. Digital Twins

Technologies enabling the adoption of digital twins are cloud computing, the internet of things (IoT), APIs and open standards, digital reality technologies, and artificial intelligence. A digital twin is a computer program that uses real-world data to create simulations that can predict how a process or product will perform.

Using digital twins, aircraft manufacturing giant - Boeing has been able to achieve a 40% improvement rate in the quality of parts.

"By 2022, nearly 70% of manufacturers are expected to use digital twins to conduct evaluations and simulations"

4. Automation and Dark Factories

The term dark factory describes a manufacturing site or industrial plant that is fully automated, where production takes place without any human intervention. Dark factories, where the lights are off, can work in all shifts with automated robots, which will increase productivity with zero error. Automation and dark factories can eliminate almost 90% of the human workforce without compromising the production schedule.

5. 5G & Edge Computing

5G and edge computing are opening a world of new revenue opportunities across many sectors including manufacturing. Edge computing in telecom provides execution resources such as compute and storage for applications with networking close to the end-users. The main benefits edge computing solutions provide include high bandwidth, low latency, device processing, data offload as well as trusted computing and storage. Importantly, with COVID-19 the need for the manufacturing sector to be digital has never been greater, and 5G and edge computing will likely play a key role in the global economic recovery. With the utilization of 5G and edge computing, the industrial manufacturing market is set to grow 51% between 2019-2023.

6. 3D Printing

3D printing is a manufacturing process that produces objects, products, and structures in accordance with a 3D digital model. By using a 3D printer and adding material (plastics and metals) layer by layer. Complex designs can be produced through 3D printing both rapidly and at a low cost. Some of the industries that are extensively utilizing 3D printing are aerospace, automotive robotics, and education. For instance, Airbus has been using 3D printing technology for more than 15 years.

3D printing will drive a new era of personalization because individually personalized products can be made without worrying about economies of scale. In addition, 3D printing can help to drive innovation by allowing rapid prototyping.

7. Blockchain Technology

Blockchain technology is being increasingly used within the manufacturing industry. Industry 4.0 spans across a whole network of machines, parts, equipment, and value chain participants. Therefore, as factories around the world become increasingly interconnected, the influence of blockchain is becoming more prevalent. Importantly, blockchain technology will bring greater transparency and trust to the manufacturing sector.

Blockchain-powered solutions in the manufacturing sector can seamlessly aggregate all of the information to deliver significant value for manufacturing companies and help unlock the full potential of other advanced technologies, such as IoT, 3D printing, and augmented reality.

8. Robots and Cobots

One of the key enablers of automation and industry 4.0 is the use of robots in the manufacturing sector. On the other hand, Cobots (collaborative robots), just like traditional industrial robots, consisting of a mechanical arm that can be programmed to perform various tasks such as assembly, material handling, process tasks, packaging, and quality inspection. Robots and cobots can help manufacturers and production sites to achieve greater efficiencies. For instance, Nissan deployed Universal Robots' robotic arms at its production facilities in Japan to help overcome problems around maintaining production times.

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Top Evolving Manufacturing Industry Trends that are Shaping the Future

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The manufacturing industry always remained a key adopter of the latest technologies and innovations. The manufacturing sector has evolved over the centuries, from manual and human-controlled methods to machine-based assembly lines to highly automated factories. A number of ongoing trends are combining to transform the manufacturing sector and can be referred to as Industry 4.0.

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Future of 5G Technology Market | Trends and Forecasts

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5G is a transformational technology through which enterprises will be able to choose cellular connectivity as a primary access technology, which is expected to speed up their digitalization. The Global 5G market is gaining momentum globally. However, for the 5G market to observe exponential growth, both the infrastructure/network and device domains should work hand in hand.

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Research shows that PET demand has increased during Covid, during which logistic and supply issues continue in the market. According to research, the raw materials for PET, especially PE and MEG, became scarcer.

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The global polyethylene terephthalate market (PET) observes supply issues and logistics challenges, RationalStat analyses the unique challenges facing the global plastics packaging markets and how you can navigate them.

With the ongoing recovery in the global markets, the demand for polyethylene terephthalate (PET) has surged significantly. The situation, already observed in 2020, pertaining to container shortage is hovering across the world. Distinctly, expensive freight costs coupled with container shortages will remain challenging for PET suppliers to export and get better prices in Europe and North America.

According to the research, supply constraints of the raw materials of polyethylene terephthalate (PET) - especially polyethylene (PE) and monoethylene (MEG) - are leading to factory shutdowns, production delays, and sharp price increases across a range of markets.

Surges in demand are widely expected to occur in the world as vaccinated consumers venture out.

To speak to our industry consultant for a discussion, Speak to Analyst

RationalStat delivers essential information and comprehensive insights so you can make decisions effectively

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Increasing PET Demand Leads to its Shortage in the Market

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The global polyethylene terephthalate market (PET) observes supply issues and logistics challenges, RationalStat analyses the unique challenges facing the global plastics packaging markets and how you can navigate them. With the ongoing recovery in the global markets, the demand for polyethylene terephthalate (PET) has surged significantly.

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Battery Swapping Policy to Improve Electric Vehicle Sales

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The government of India to introduce battery swapping technology to promote the sales of electric vehicles.

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The packaging industry has been experiencing steady growth over the past few years. After COVID-19 ( pandemic ) the need for packaging has risen dramatically. Innovative codes and clever packaging are now being utilized on almost every item.

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Top Packaging Industry Market Trends to Watch

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During the past decade, packaging industry trends have evolved from traditional packaging to technology-enabled smart packaging solutions. According to the reports of the Packaging Industry Association of India (PIAI), packaging sector is the fifth largest sector in India which was valued at US$ 50.5 billion in 2019 and is expected to reach the market value of US$ 204.8 in 2024.

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Covid- 19 pandemic has changed the game of online grocery store.In pandemic because of the norms, nobody used to go out.Everyone started ordering grocery online.It is still under discovered market in villages and town and have high hope of growth.

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The e-commerce grocery market has been one of those few markets which got the favorable impact of the COVID-19 pandemic, for the apparent reason that people were unable to step out of their homes. Apart from the lockdown measures, the presence of tech-savvy millennials coupled with the growing digitalization has pushed the global population toward online grocery stores. This shift has amplified the speed at which e-commerce grocery has been growing. According to the reports of the Indian Brand Equity Foundation (IBEF), the market of Indian online grocery stores is estimated to reach a value of US$18.2 billion in 2024 which was valued at US$1.9 billion in 2019, growing at a CAGR of 57%. In addition to the shift in customer mindset, there are multiple factors that supported the growth of the e-commerce grocery market. In this article, let us try to understand those contributing factors.

The Arrival of Big Players into the Market

Major e-commerce market players like Flipkart, Amazon, JioMart, and Paytm have entered the online grocery market with attractive discount offers on grocery purchases from their online stores. These money-saving offers and discounts fueled the motivation of customers to try out online grocery shopping. In addition, these e-commerce companies, who already have established their trust in online shopping have been successful in gaining trust in their grocery products with quality and in-time product delivery.

TATA Digital has acquired a majority stake (64%) of Big Basket at a valuation of $1.3 billion in May 2019. Big Basket is one of the most popular and earliest India-based online grocery stores founded in the year 2011 with more than 12 million registered users. This huge acquisition by one of the Indian industry leaders clearly indicates the future scope of the e-commerce grocery market in India.

Convenience Offered by Technological Innovations

It is not just the compulsion of staying indoors that created a shift of the buyers toward online grocery shopping but also the digital convenience which impacted the mindset. Easy payment options, fastest delivery services, and simple returns accelerated the shift. There are some prominent indirect factors that contributed to the e-commerce grocery market growth such as increased number of smartphone users, tech-savvy generation, easy penetration of internet services to remote areas, and affordable internet services.

Startup Boom

Analyzing the scope of the e-commerce grocery market in India, numerous start-ups are emerging in this sector. Dunzo, Licious, ZopNow, Nature's Basket are some of the popular start-ups which have gained traction in recent years and are competing with industry players. Dunzo is known for express delivery in 45 minutes. Licious is a popular online marketplace for fresh meat and seafood with lucrative money-saving offers. Dunzo has got a US$200 million investment from Reliance Retail Venture Limited for a stake of 25.8% and has managed to raise an overall US$240 million from other investors such as Lightbox, Lightrock 3L capital, and Alteria Capital.

Final Thoughts

Although COVID-19 has brought significant growth in the e-commerce grocery market in a short time, there is wide scope for possible growth for the market in the future years. It cannot be denied that today online grocery service works efficiently in cities and fails in towns and remote villages, necessitating that there is a lot of progress to be made. The market has all the way to grow until it can reach every single person in India.

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E-Commerce Grocery Market to Gain Traction After the Pandemic

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The e-commerce grocery market has been one of those few markets which got the favorable impact of the COVID-19 pandemic, for the apparent reason that people were unable to step out of their homes. Apart from the lockdown measures, the presence of tech-savvy millennials coupled with the growing digitalization has pushed the global population toward online grocery stores.

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Market Trend suggest that in upcoming years pistachio demand is going to increase incredibly.Pistachio is demanding nut and highly recommended dry fruit by nutritionist. It can reduce the risk of Cardiovascular Diseases

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Pistachio is grown in areas where summers are long, hot, and dry and winters are slightly cold. This plant is said to have originated in the central Asian countries including Iran, Turkey, and Afghanistan. Iran and Turkey have been its top producers over the centuries.

Excessively Lengthy Yield Duration

On average, a period of a minimum of 5 years is expected for the first fruit and a minimum of 8 years for a better yield from the pistachio tree. It takes 15-20 years to reach peak production.

A highly vigilant and skilled farmer force is required to keep a check on the plants against diseases and to cultivate them. The plant needs to be grown in specific soil and water conditions.

High fund requirements

Since the pistachio crop does not land you up in 'instant profits', you cannot rely on the plantation for future funds. It is a must to deploy highly skilled labor and invest in proper maintenance of the crop. To achieve this, one needs to have investment-ready funds for nearly 8 years. After which, one can bootstrap the plantation.

Due to these challenges and climatic constraints, pistachios are grown only in a few countries across the world. Currently, North America is the leading producer of pistachios across the world. Major production comes from the cities of California, New Mexico, and Arizona states of the country.

Adding to the above-mentioned factors, pistachios have numerous health benefits, such as, they are rich in fiber. They further help to reduce cholesterol levels in the body. Pistachio intake is said to reduce the risk of cardiovascular diseases. Due to these undeniable benefits of pistachios, the pistachio market is expected to witness growth during the forecast period of 2021-2027 as per the market trends.

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Pistachio Market Growth: Production, Challenges, Market Size

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Pistachio is grown in areas where summers are long, hot, and dry and winters are slightly cold. This plant is said to have originated in the central Asian countries including Iran, Turkey, and Afghanistan. Iran and Turkey have been its top producers over the centuries.

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