The global market for serum-free media was valued at $1,022.4 million in 2021 and is expected to reach $3,920.5 million by 2032, registering a CAGR of 12.73% during the forecast period 2022-2032. The growth in the global serum-free media market is expected to be driven by factors such as the low risk of contamination in the media, rising awareness of media-based diagnostic testing, and significant number of funding for executing research and development.

Market Lifecycle Stage

The global serum-free media market is progressing rapidly with a significant increase in research and development activities pertaining to a wide range of animal component-free products for disease detection, accentuating their criticality in healthcare. Serum-free media has a critical role in the cellular diagnostics approach, as it ensures the safe and effective application for improved cell culture and cell therapy-based methods.

Increasing investments in R&D for cell-based diagnostics is one of the major opportunities in the serum-free media market. Several clinical organizations and biopharmaceutical companies are working collaboratively on molecular biology applications, cell biology, cancer research, metagenomics, and plant research using serum-free media as a therapeutic means for applications in several disease indications in order to enable efficient diagnosis, treatment selection, dosage selection, and treatment monitoring.

Impact

Several techniques are employed in the development of serum-free media utilization for the process of removing cells, tissues, or organs from an animal or plant and putting them into a setting that will help them survive and/or proliferate. The selection of an adequate growth medium for in vitro cultivation is the most significant and important phase in cell culture.

A growth medium, also known as a culture media, is a solution, gel, or powder that promotes the development of cells, small plants, or microorganisms. This serum-free medium market space has been segmented into different media types that include common serum-free, xeno-free, chemically-defined, animal component-free, and protein-free. Some of these media types are described in brief as follows:

• Common serum-free media: In common serum-free media, the composition is precisely defined, ensuring lot-to-lot consistency and eliminating the need to screen new lots of serum. In addition to facilitating the growth of numerous cell types for study, serum-free media also provide the advantage of removing the threat of infectious pathogens. The common serum-free media does not include human or animal serum or plasma in its direct or basic constituents.
• Chemically-defined media: Chemically-defined media is beneficial for a range of physiological research as well as for examining the minimal needs of microorganisms. Chemically-defined media are known to increase productivity and reduce costs in cell culture applications. A specified medium will enhance reproducibility and enable a more precise prediction of the final yield from a certain procedure.
• Animal component-free media: Animal-free media, also known as animal component-free and animal origin-free cell culture media, can offer the essential components required for cell growth and performance similar to the media, including serum, but without the drawbacks associated with using the serum. Animal component-free media not only mitigates the risk of prions and other viral contaminants but also improves regulatory approvals and speed-to-market.
• Protein-free media: The protein-free media are ideal for producing proteins as they promote healthy cell development and excellent protein yield. The proteins in the protein-free medium can be substituted with low-molecular-weight components such as peptides, hormones, and inorganic ions. However, protein-free designated commercially available media frequently contain just trace amounts of recombinant proteins.

Impact of COVID-19

The current global serum-free media market comprises different media types. The unexpected crisis of the pandemic has surged the demand for essentials and thus, increased the demand for serum-free media. There was increased demand for serum-free media from biopharmaceutical companies. Overall, the impact of COVID-19 on the global serum-free media market size has been low-moderate.

Some of the market players have reported a slight decline in sales. However, it is worth mentioning that with the ease of restrictions after Q2 2021, the market for serum-free media gained significant momentum and is anticipated to grow during the forecast period 2022-2032. As a result of the pandemic and reduced output at manufacturing facilities, the pandemic caused a short-term drop in manufacturing and sales of serum-free media.

The global serum-free media market will eventually return to its usual growth trajectory over time. With many people impacted by COVID-19 all around the world, pharmaceutical companies are ramping up manufacturing to create vaccinations.

Such trends are generating revenue potential for serum-free media market participants. Lonza Group AG, a Swiss multinational chemicals and biotechnology firm, is earning notoriety for its non-animal ProVeroTM1 Serum-free Medium, which aids in vaccine manufacture.

Market Segmentation:

Segmentation 1: by Media Type

• Common Serum-Free
• Xeno-Free
• Chemically-Defined
• Animal Component-Free
• Protein-Free

The global serum-free media market in the media type segment is expected to be dominated by common serum-free media. This is due to an increased usage of common serum-free media, and it is the most used media type among manufacturers offering cell culture media to their end users.

Segmentation 2: by End User

• Biopharmaceutical Companies
• Academic and Research Organizations
• Clinical Research Organizations
• Others

The biopharmaceutical companies dominate the end user segment in the global serum-free media market as increasing global serum-free media research activities are expected to contribute to the growth of the market along with growing industry-academic collaborations for new product development.

Segmentation 3: by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World

The global serum-free media market is dominated by North America. This is majorly due to the presence of a large number of biopharmaceutical companies in the area, along with the research funding for cell and stem cell-based products. However, with advancements in technology and the growing demand for serum-free media in Asia-Pacific, the region is expected to be the fastest growing region.

Recent Developments in the Global Serum-Free Media Market

• In August 2022, Thermo Fisher Scientific Inc. expanded the cell culture media manufacturing facility in Grand Island, New York, to support the production of new vaccines and biologics. This expansion would support the worldwide media supply and increase the capacity to create high-quality technologies.
• In May 2022, FUJIFILM Irvine Scientific completed its new bioprocessing innovation and collaboration center in China. The new center would enable local resources and expertise required to optimize cell culture media and workflows to aid the production of vaccines, advanced therapies, and biotherapeutic drug development in China.
• In September 2021, Bio-Techne Corporation developed a new medium ExCellerate IpsC expansion medium, for IpsC research in regenerative medicine.
• In April 2021, PromoCell GmbH launched an upgrade to its Keratinocyte Cell Culture Portfolio. The company expanded its improved animal-extract-free Keratinocyte Growth Medium 3 for the standardized isolation and development of juvenile and adult Normal Human Keratinocytes.
• In March 2021, the company also launched its improved third-generation Melanocyte Cell Culture Portfolio. Melanocyte Growth Medium M3 is a serum-free, bovine pituitary extract (BPE)-free, and phorbol myristate acetate (PMA)-free media formulation.

Demand – Drivers and Limitations

Following are the demand drivers for the global serum-free media market:

• Low Risk of Contamination as a Demand Driver
• Launch of innovative products in Serum-Free Media Ecosystem
• Low reception cost involving small and medium enterprises in comparison to animal derived media

The market is expected to face some limitations too due to the following challenges:

• Slow Growth Rate in Comparison to Serum-Supplemented Media
• Requirement of Diverse Cell-Type for Specific Media Formulation

How can this report add value to an organization?

Product/Innovation Strategy: The report considers serum-free media products from product-based companies. These companies are actively involved in undertaking significant business strategies to translate success in research and development into the commercial clinical setting.

Growth/Marketing Strategy: Owing to the explosion of massively parallel cell therapy and gene editing, all areas of healthcare have been affected, particularly serum-free media-based cellular diagnostics. The key components in the serum-free media market consist of a diverse range of media types as products. The entire workflow is well explained in the report, along with pricing analysis considering the applications that are used in testing.

Competitive Strategy: Key players in the global serum-free media market were analyzed and profiled in the study, consisting of both products-based companies as well as a few emerging companies. Moreover, a detailed competitive benchmarking of the players operating in the global serum-free media market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

Company Type 1: Serum-Free Media Private Industry

• MP BIOMEDICALS.
• HiMedia Laboratories
• R&D Systems, Inc.
• Sino Biological, Inc.
• PAN-Biotech.
• PromoCell GmbH
• Athena Environmental Sciences, Inc.
• STEMCELL Technologies Inc.

Company Type 2: Serum-Free Media Public Industry

• Corning Incorporated
• Lonza Group AG
• Merck KgaA
• Sartorius AG
• Thermo Fisher Scientific Inc.
• FUJIFILM Holdings Corporation
• Danaher.

The post Global Serum-Free Media Market: Focus on Media Type, End User, and Region – Analysis and Forecast, 2022-2032 first appeared on CRI Report.

The global gastrointestinal endoscopy market was valued at $13.40 billion in 2021 and is anticipated to reach $25.75 billion by 2031, witnessing a CAGR of 6.24% during the forecast period 2022-2031. The market is driven by factors such as the increasing prevalence of gastrointestinal diseases, rising preference for minimally invasive surgeries, growing demand for capsule endoscopy, the shift from reusable endoscopes to disposable endoscopes, and technological advancements in the field of robot-assisted endoscopes and AI-based devices.

Market Lifecycle Stage

The gastrointestinal endoscopy market is in the developed phase. The increasing demand for single-use endoscopes such as duodenoscopes, gastroscopes, and colonoscopes, increasing demand for capsule endoscopy, and the integration of industry with robotics and AI are some of the major opportunities in the global gastrointestinal endoscopy market. Furthermore, some of the current key trends in the market are the shift from conventional surgeries to robot-assisted surgery, the development of single-use endoscopes, the rising demand for minimally invasive procedures, and the increasing number of product launches among market players.

Impact of COVID-19

The COVID-19 pandemic has impacted practically all sectors and social functions worldwide, including the gastrointestinal endoscopy market. COVID-19 led to a decline in the global gastrointestinal endoscopy market, as elective and surgical procedures were stopped during the lockdown.

Overall, the supply side was negatively impacted, especially during the peak of the COVID-19 pandemic. The significantly high number of endoscopy procedures resumed after the restrictions were lifted, which offset the negative impact and led to the growth of the market in 2021.

In addition to this, the COVID-19 pandemic also helped in the adoption of single-use endoscopes. Single-use endoscopes eliminate the risk of cross-contamination, which turned out to be a favorable condition for their adoption during the COVID-19 pandemic.

Market Segmentation:

Segmentation 1: by Type

• Gastrointestinal Endoscopes and Endoscopic Systems
o Capsule Endoscopes
o Gastrointestinal Videoscopes
o Visualization Systems
• Gastrointestinal Endotherapy
o Ultrasound Endoscopes
o Balloon Dilators
o Gastrointestinal Stents
o Biopsy Devices
o Retrieval Devices
o ERCP Devices
o Hemostasis Devices
o Others

The global gastrointestinal endoscopy market (by type) is expected to be dominated by the gastrointestinal endoscopes and endoscopic systems segment.

Segmentation 2: by End User

• Hospitals
• Ambulatory Surgery Centers
• Others

The global gastrointestinal endoscopy market (by end user) is dominated by the hospital segment.

Segmentation 3: by Region

• North America – U.S. and Canada
• Europe – Germany, France, U.K., Italy, Spain, and Rest-of-Europe
• Asia-Pacific – Japan, China, India, Australia and New Zealand, South Korea, and Rest-of-Asia-Pacific
• Latin America – Argentina, Brazil, Mexico, and Rest-of-Latin America
• Middle East and Africa – K.S.A., U.A.E., and Rest-of-Middle East and Africa

The gastrointestinal endoscopy market is dominated by the North America region due to better healthcare systems and infrastructure, the high adoption rate of new technology, increased demand for minimally invasive surgeries, high efficacy, and low relapse rate associated with endoscopic procedures.

Recent Developments in the Global Gastrointestinal Endoscopy Market

• In May 2022, Limaca-Medical received breakthrough device recognition by FDA for its Precision-GI endoscopic ultrasound biopsy device.
• In February 2022, Ambu A/S received FDA approval for its Ambu aScope Gastro and Ambu aBox 2.
• In November 2021, Medtronic plc received 510 (k) clearance from FDA for its Pillcam Small Bowel 3 system for remote endoscopy procedures.
• In August 2021, Ambu received CE mark approval for its Ambu aScope Duodeno, a disposable duodenoscope.

Demand – Drivers and Limitations

Following are the drivers for the global gastrointestinal endoscopy market:

• Increasing Prevalence of Chronic Gastrointestinal Diseases
• Upsurge in Adoption of Disposable Gastrointestinal Endoscopes
• Rising Inclination toward Minimally Invasive Procedures
• Shift toward Wireless Capsule Endoscopy

The market is expected to face some limitations as well due to the following challenges:

• Dearth of Skilled Healthcare Professionals
• Lack of Reimbursement Frameworks

How can this report add value to an organization?

Type: The type segment helps the reader understand the different types of gastrointestinal endoscopy products available in the market. Moreover, the study provides the reader with a detailed understanding of products that fall under the two main segments, i.e., gastrointestinal endoscopes and endoscopic systems and gastrointestinal endotherapy.

Growth/Marketing Strategy: The global gastrointestinal endoscopy market has witnessed major development by key players operating in the market, such as product launches, business expansion, partnership, collaboration, and joint ventures. The favored strategy for the companies has been new offerings, partnerships, alliances, and business expansions to strengthen their position in the market. For instance, in May 2022, Limaca-Medical received breakthrough device recognition by FDA for its Precision-GI endoscopic ultrasound biopsy device, and in November 2021, Medtronic plc received FDA approval for its AI-based device GI Genius intelligent endoscopy module.

Competitive Strategy: The key players in the global gastrointestinal endoscopy market analyzed and profiled in the study involve established and emerging players that offer different products for gastrointestinal endoscopy. Moreover, a detailed competitive benchmarking of the players operating in the global gastrointestinal endoscopy market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Moreover, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent established names in this market are:

Established Companies

• Boston Scientific Corporation
• Medtronic plc
• KARL STORZ SE & Co. KG
• Ambu A/S
• Teleflex Incorporated
• HOYA Corporation
• Olympus Corporation
• FUJIFILM Holdings Corporation
• Cook Group Inc
• SonoScape Medical Corp.

Start-ups

• EndoMed Systems GmbH
• CapsoVision, Inc.
• HuiZhou Xzing Technology Co., Ltd.
• Endogene Ltd.
• Envaste Limited

The post Gastrointestinal Endoscopy Market – A Global and Regional Analysis: Focus on Type, End User, and Region – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

The global satellite electric propulsion market is estimated to reach $1,027.3 million in 2032 from $522.3 million in 2021, at a growth rate of 4.10% during the forecast period. The satellite electric propulsion technology companies have witnessed the demand from the growing commercial industry. The ecosystem of the satellite propulsion system market comprises system manufacturers, original equipment manufacturers (OEMs), and end users.

Market Lifecycle Stage

Between 1957 and 2021, many governments and commercial organizations such as Ariane Space, Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA), started demonstrations for the new propulsion system for different satellites in low Earth orbit (LEO). Since then, technology has evolved continually and transformed the entire space industry by developing unique products and systems.

Currently, many space agencies and commercial companies across the globe have been focusing on developing low Earth orbit (LEO) satellite constellations. This would drive the market for the propulsion system. Moreover, rising research and development activities to develop cost-efficient propulsion technologies and advancements in 3D printing technology for developing the components of satellite propulsion systems are other factors contributing to the growth of the LEO-focused satellite propulsion technology market. For instance, in June 2022, ThrustMe signed a contract with European Space Agency (ESA) to provide an NPT30-I2-1.5U electric propulsion system for the GOMX-5 mission under ESA general support technology programme (GSTP).

Impact

• The increasing number of smaller telecom satellites in low Earth orbit (LEO) with the upcoming mega-constellation has placed a high demand for the production of electric propulsion during the forecast period.
• Furthermore, rising research and development activities for building low-cost and efficient propulsion systems for satellites.

Market Segmentation:

Segmentation 1: by Mass Class

• Small Satellite (0-500 Kg)
• Medium Satellite (501-2,200 Kg)
• Large Satellite (Above 2,200 Kg)

The satellite electric propulsion market is expected to generate huge revenues from the above 2,200 Kg mass segment, followed by 0-500 Kg.

Segmentation 2: by Mission Type

• Earth Observation
• Communication
• Technology Development
• Others

Based on mission type, the global satellite electric propulsion market is expected to be dominated by the communication segment during the forecast period. This is due to the increasing development of small satellite constellations for communication by commercial industries.

Segmentation 3: by Mission Application

• Station Keeping
• Orbit Raising

Based on mission application, the global satellite electric propulsion market is expected to be dominated by the station keeping segment during the forecast period. The satellite operators prefer more electric propulsion for station keeping irrespective of their nature of taking more time to maneuver.

Segmentation 4: by Component

• Power Control Units
• Power Distribution Units
• Pointing Mechanism
• Pressure Regulators
• Valves
• Flow Controllers
• Mass Flow Sensors
• Pressure Transducers
• Particle Filters
• Tanks
• Plumbing/Tuning
• Propulsion Chamber/Nozzle

Segmentation 5: by Region

• North America – U.S.
• Europe – France, Germany, Russia, U.K., and Rest-of-Europe
• Asia-Pacific – China, India, and Rest-of-Asia-Pacific
• Rest-of-the-World – Middle East and Africa and South America

Europe accounted for the highest share of 81.82% in the global satellite electric propulsion market by value in 2021, owing to a significant number of companies based in the region.

Recent Developments in Global Satellite Electric Propulsion Market

• In July 2022, Thales Alenia Space received a contract of $2.4 million from European Space Agency (ESA) to develop Skimsat, a small satellite bus for very low Earth orbit (VLEO). The contract also includes developing electrical propulsion to air drag in VLEO.
• In June 2022, Safran signed a contract with Thales Alenia Space to supply its PPS 5000 plasma thruster for Thales’s Galileo satellites.
• In August 2021, Neutron Star Systems (NSS) and Bradford Space signed a cooperative agreement to enhance the orbital transport and maneuver capability. In this agreement, Bradford would combine NSS electric propulsion technology with its green monopropellant technology for its space logistics services.
• In April 2021, ThrustMe was selected by Norwegian Space Agency to provide NPT30-I2 electric propulsion for the NorSat-TD mission. The company would provide collision avoidance maneuver capabilities to the NorSat-TD satellite with its iodine propulsion system.

Demand – Drivers and Limitations

Following are the drivers for the global satellite electric propulsion market:

• Increasing Demand for Large Constellations for Smaller Telecom Satellites in Low Earth Orbit (LEO)
• Rising Research and Development Activities for Building Low-Cost and Efficient Propulsion Systems for Satellites

Following are the challenges for the global satellite electric propulsion market:

• Relatively Low Thrust Nature of Electric Propulsion Systems Impose Longer Timelines for Orbit-Transfer Risking Satellite Exposure to Radiation and Delaying Mission Timelines
• Integration of Electric Propulsion Results in a Growing Power Budget (Imposing the Need for More Onboard Power and the Addition of More Associated Power Electronics)

Following are the opportunities for the global satellite electric propulsion market:

• Satellite Manufacturers can Achieve Multiple Variants of the Satellite When Utilizing the All-Electric Option Owing to its Scalability Advantage

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of satellite electric propulsion market available for deployment in the industries for space platforms and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different satellite electric propulsion market by mass class (small satellite (0-500kg), medium satellite (501-2,200kg), and large satellite (2,200 kg and above)), by mission type (earth observation, communication, technology development, and others), by mission application (station keeping and orbit raising), and by component (power control units, power distribution units, pointing mechanism, pressure regulators, valves, flow controllers, mass flow sensors, pressure transducers, particle filters, tanks, plumbing/tuning, propulsion chamber/nozzle).

Growth/Marketing Strategy: The global satellite electric propulsion market has seen major development by key players operating in the market, such as business expansion activities, contracts, mergers, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been contracted to strengthen their position in the global satellite electric propulsion market. For instance, in June 2022, Thales Alenia Space and Telespazio (joint venture of Thales and Leonardo) signed a contract with the Italian Ministry of Defense for the development of SICRAL 3 satellite communications and propulsion system.

Competitive Strategy: Key players in the global satellite electric propulsion market analyzed and profiled in the study involve satellite electric propulsion manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global satellite electric propulsion market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of the company’s coverage, product portfolio, and market penetration.

The top segment players leading the market include established players of electric propulsion for satellites and constitute 80% of the presence in the market. Other players include start-up entities that account for approximately 20% of the presence in the market.

Some prominent names established in this market are:

• Accion Systems
• Airbus
• Aliena Pte Ltd.
• ArianeGroup
• Astra
• Busek, Co. Inc.
• CU Aerospace
• ENPULSION GmbH
• Moog Inc.
• Neutron Star Systems
• Northrop Grumman
• Orbion Space Technology
• Phase Four, Inc.
• Safran
• Sitael S.p.A
• Thales Alenia Space

The post Satellite Electric Propulsion Market – A Global and Regional Analysis: Focus on Mass Class, Mission Type, Mission Application, Component, and Country – Analysis and Forecast, 2022-2032 first appeared on CRI Report.

The global sustainable films for packaging market was estimated at $140.0 billion in 2021 and is expected to reach $276.2 billion by 2031, growing at a CAGR of 7.0% during the forecast period 2022-2031. The growth in the global sustainable films for packaging market is expected to be driven by an increasing focus on the circular economy and the growing awareness of its environmental benefits among end users and consumers. However, the lack of recycling technology and the high cost of raw materials are some key restraining factors for the market.

Market Lifecycle Stage

The global sustainable films for packaging market is in a growing phase. New trends, such as the development of bioplastics, are further expected to provide opportunities for the market to grow in the coming years.

Industrial Impact

With an increased worldwide focus on the circular economy, the shift toward eco-friendly industrial practices is increasing, thereby creating demand for sustainable products. The shift is more prominent in the food and beverages industry in regions such as Europe and North America.

Impact of COVID-19

The COVID-19 pandemic had a huge impact on the global sustainable films for packaging market. It altered the market in both positive as well as negative ways. During the COVID–19 pandemic, sectors that help meet necessities, such as providing food and supplies to consumers securely, were increasingly disrupted.

Market Segmentation

Segmentation 1: by Application

• Food and Beverage
• Pharmaceutical
• Consumer Goods
• Personal Care
• Consumer Electronics

Among different sustainable films used for packaging in end-use applications, the food and beverage segment is expected to be the largest application during the forecast period 2022-2031.

Segmentation 2: by Material Type

• Polypropylene (PP)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Others (PLA and Cellulose)

Among different types of materials, the polyethylene segment led the market in 2021 and is estimated to lead the market during the forecast period 2022-2031 as well.

Segmentation 3: by Region

• North America – U.S., Canada, and Mexico
• South America – Brazil, Argentina, Chile, and Rest-of-South America
• Europe – Germany, France, Spain, Italy, and Rest-of-Europe
• U.K.
• Asia-Pacific and Japan – Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific and Japan
• China
• Middle East and Africa – U.A.E., Saudi Arabia, South Africa, Egypt, and Rest-of-Middle East and Africa

Europe led the sustainable films for packaging market in 2021 and is anticipated to uphold its dominance throughout the forecast period.

Recent Developments in Sustainable Films for Packaging Market

• In February 2022, Sealed Air increased its recyclable barrier display film portfolio to improve recyclability across European food supply chains. The company launched two new low-density polyethylene (LDPE) mechanical recycling and chemical recycling compatible Cryovac Brand Eco BDF films, namely, Eco BDF20M and Eco rBDF20M.
• In April 2022, ProAmpac announced the launch of its latest ProActive Recyclable R-2000S, which is made up of recyclable polyethylene material.
• In June 2021, Amcor plc launched AmPrima PE Plus ultra-clear and heat resistance films. The AmPrima PE Plus product uses raw materials which are ready for recycling processes and manufacturing. These films are easy-to-recycle and are effective at reducing carbon footprints.
• In November 2021, Rani Plast made significant additional investments to boost production capacity for recycled packaging film. Furthermore, the new lines would cut production waste, increase packaging film quality, and allow the company to employ other raw materials, such as recycled plastic granules.

Demand – Drivers and Limitations

Following are the demand drivers for the global sustainable films for packaging market:

• Growing Government and Industrial Initiatives to Reduce Plastic Waste
• Increasing Demand for Mono-Material Plastic Packaging

The market is expected to face some limitations too due to the following challenges:

• Lack of Technological Advancement around Recycling
• High Cost and Inadequate Production of Bio-Based Raw Materials

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of materials available for sustainable films for packaging and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different sustainable films for packaging applications in industries such as food and beverages, pharmaceutical, personal care, consumer goods, and consumer electronics.

Growth/Marketing Strategy: Business expansion, partnership, collaboration, and joint venture are some key strategies adopted by key players operating in the space. For instance, in February 2022, Sealed Air increased its recyclable barrier display film portfolio to improve recyclability across European food supply chains. The company launched two new low-density polyethylene (LDPE) mechanical recycling and chemical recycling compatible Cryovac Brand Eco BDF films, namely, Eco BDF20M and Eco rBDF20M.

Competitive Strategy: Key players in the global sustainable films for packaging market analyzed and profiled in the study involve sustainable packaging film providers. Moreover, a detailed competitive benchmarking of the players operating in the global sustainable films for packaging market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some prominent names in this market are:

• Amcor plc
• Rani Group
• Innovia Films
• Mondi
• Berry Global Inc.
• UFlex Limited
• TORAY ADVANCED FILM CO., LTD.
• Pregis LLC
• Constantia Flexibles
• Sealed Air
• Transcontinental Inc.
• ProAmpac
• DUNMORE
• Bleher Folientechnik GmbH
• ePac Holdings, LLC.
• Cosmo Films

The post Sustainable Films for Packaging Market – A Global and Regional Analysis: Focus on Material, Applications, and Region – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

The EV charging management software platform market is projected to reach $25,922.4 million by 2031 from $980.0 million in 2021, growing at a CAGR of 36.7% during the forecast period 2022-2031. The EV charging management software platform market growth is expected to be driven by the proliferating demand for electric vehicles across the globe and government initiatives toward a pollution-free environment. The EV market will rapidly grow and evolve in the coming months and years to reach critical mass. Savvy operators will begin with a software solution that can scale with the market, allowing them to monetize and grow their business investments.

Market Lifecycle Stage

EV charging management software enables e-mobility service providers and EV charging operators to manage all aspects of EV charging, maximizing charger uptime and providing EV drivers with a seamless charging experience. Furthermore, the software enables EV charging providers to monetize their services. Some of the major benefits of EV charging management software include energy usage and cost optimization, complete control of charging infrastructure, remote management of EV infrastructure, seamless charging experience for drivers, possibility of cost reduction and revenue generation, automation of EV billing and payments, and the ability to achieve interoperability.

Impact of EV Charging Management Software Platform Market

As electrification and electric vehicle adoption continue, government initiatives and policies for electric vehicles contribute significantly to the advancement of this vision. Over the last few decades, governments around the world have been attempting to find ways to reduce vehicle carbon dioxide emissions. The advancement of electric vehicle technology is a catalyst for reducing tailpipe emissions from ICE vehicles. Effective policies and regulations are being implemented to accelerate the global adoption of electric vehicles. These ongoing efforts by governments in various countries and areas facilitate the growth of electric vehicles, which is expected to boost the EV charging management software platform market and ensure better and cleaner air quality in the coming years.

Market Segmentation:

Segmentation 1: by Module

• Operation Management
• Energy Management
• EV Billing and Payment
• Others

Operation management will dominate EV charging management software platform market (by module). The operations management module of EV charging management software includes tools for continuously monitoring EV charging networks and providing real-time alerts and notifications. It also includes tools for automatically diagnosing and remotely resolving problems, thereby increasing network availability and stability. Insight-driven dashboards for constantly collecting, visualizing, and analyzing operational data to optimize operations are among the advanced features.

Segmentation 2: by Deployment of Charger

• Private Chargers
• Public Chargers

Private chargers will dominate EV charging management software platform market (by deployment of charger). The lack of robust public charging infrastructure is one of the most vexing issues for electric vehicle adoption. EV charging at home is more common than at public chargers. As a result, even as public charging infrastructure is gradually being built up, greater EV penetration may be possible.

Segmentation 3: by Charger Type

• Level 1
• Level 2
• Others

Level 2 will dominate EV charging management software platform market (by charger type). Due to EV drivers’ desire for a reasonable range, most organizations and EV owners prefer Level 2 charging to Level 1 charging. Level 2 charging adds about 25 miles per hour (RPH), whereas Level 1 charging adds about 4 miles per hour (RPH) Because charging an EV takes nearly a full day, Level 1 is too slow for the amount of time most drivers spend at a typical business and thus will not appeal to them. Level 2 charging also allows a company to serve a greater number of drivers on a daily basis, resulting in more customers.

Segmentation 4: by Product Type

• Asset Management Software
• Analytics Software
• Others

Asset management software will dominate EV charging management software platform market (by product type). Asset management software is used to manage both software and hardware assets. Asset management software tracks every aspect of an asset and is extremely beneficial to an EV charging management software platform, in addition to keeping track of assets such as keeping track of vendor performance, optimization of supplier portfolio, and managing services as well as assets.

Segmentation 5: by Region

• North America
• Europe
• U.K.
• China
• Asia-Pacific and Japan
• Rest-of-the World

The EV charging management software platform market (by region) is dominated by China. According to the most recent data from China’s electric vehicle charging infrastructure, China has the world’s largest EV charging management software platform. China’s EV infrastructure is expanding at a breakneck pace, with over 2.2 million charging stations spread across the country, boosting the EV charging management software platform market in China.

Recent Developments in the EV Charging Management Software Platform Market

• In February 2022, EV Connect Expands EV Charging-as-a-Service Program supported by investor Mitsui & Co., Ltd. (Mitsui) was launched. The program combines hardware, software, and service offerings with flexible payments to EV Connect customers to create a one-stop shop for worry-free EV charging.
• In June 2022, NovaCHARGE announced successful pilots of a new Hot Standby feature that provides mobile network redundancy and eliminates single-point failover at the mobile carrier level were completed. This feature enables more robust EVSE communications to address the critical need for timely EV charging in fleet, workplace, public, and high-density residential customers.
• In September 2021, e-Mobility Power (eMP), the major provider of electric vehicle charging in Japan, migrated and consolidated its complete network of over 27,000 chargers to the Driivz end-to-end EV charging and smart energy management software platform.
• In February 2021, EVBox launched a real-time EV charging infrastructure Insights business portal. The new business portal Everon, a brand of EVBox, allows fleet and site managers control over the functioning of their EV charging infrastructure.

Demand – Drivers and Limitations

Following are the demand drivers for the EV Charging Management Software Platform Market:

• Growing Sales of Electric Vehicles
• Ease of Use of Software and Smartphone Application
• Government Initiatives toward a Pollution-Free Environment

Following are the challenges for the EV Charging Management Software Platform Market:

• Risk of Cyber Attacks
• Lack of Standard Protocols to Develop Software Platforms
• Increase in Energy Demands with Exploding EV Sales

How Can This Report Add Value?

Product/Innovation Strategy: The product segment helps the readers understand the different EV charging management software platform. Also, the study provides the readers with a detailed understanding of the EV charging management software platform market by application and product.

Growth/Marketing Strategy: To improve the capabilities of their product offerings, players in the EV charging management software platform market are developing unique products. The readers will be able to comprehend the revenue-generating tactics used by players in the EV charging management software platform market by looking at the growth/marketing strategies. Other market participants’ tactics, such as go-to-market plans, will also assist readers in making strategic judgments.

Competitive Strategy: Players profiled in the study include the EV charging management software platform market and vehicle manufacturers that capture the maximum share in the global EV charging management software platform market. Moreover, a detailed competitive benchmarking of the players operating in the EV charging management software platform market has been done to help the readers understand how players compete against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements and collaborations, and mergers and acquisitions are expected to aid the readers in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

• Etrel
• Driivz Ltd.
• EV Box
• Current AS.
• AMPECO LTD
• Tesla
• Shell plc
• EV Connect
• Blink Charging Co.
• ChargeLab Inc.
• FLO Services USA Inc.
• ChargePoint, Inc.
• S-Pro
• Virta Global
• Touch GmbH
• GreenFlux Assets B.V.
• NovaCHARGE, Inc.
• Siemens

The post EV Charging Management Software Platform – A Global and Regional Market Analysis: Focus on Application Type, Product Type, and Country-Level Analysis – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

Market Segmentation

• Indication – Spinal Infections, Spinal Tumors, and Spinal Fractures
• End User – Hospitals and Clinics, Diagnostic Imaging Centers, and Ambulatory Surgery Centers
• Product – X-Ray Devices, CT Devices, and AI-Enabled X-Ray and CT Software
• Patient Type – Adults, and Pediatrics and Neonates

Regional Segmentation

• North America – U.S. and Canada
• Europe – Germany, U.K., France, Italy, Spain, and Rest-of-Europe
• Asia-Pacific – Japan, China, South Korea, India, Australia and New Zealand, and Rest-of-Asia-Pacific
• Rest-of-the-World – Brazil, Mexico, and Rest-of-Rest-of-the-World

Market Growth Drivers

• Increasing Prevalence of Spinal Injuries
• Advent of Artificial Intelligence in Medical Imaging
• Increasing Interest Among Venture Capitalists

Market Challenges

• Potential Risks Associated with Radiation Exposure
• Delay in Regulatory Approvals

Market Opportunities

• Development of AI-Based Digital X-Ray Systems
• High Growth Opportunity in Emerging Economies
• Leveraging Partnerships to Expand Business Opportunities

Key Companies Profiled

Agfa-Gevaert NV, Arterys, Inc., Carestream Health, Inc., Enlitic, Inc., Fujifilm Holdings Corporation, General Electric Company, Imagen Technologies, Inc., Infervision Medical Technology Co. Ltd., Koninklije Philips N.V., Nano-x Imaging LTD., Quibim, S.L., Qure.ai Technologies Pvt. Ltd., Siemens Healthineers AG, Shimadzu Corporation, Vuno Co., Ltd.

How This Report Can Add Value

Assuming that the reader is a manufacturer of X-ray and CT devices, the report will assist them in the following ways:

• Understand their position compared to other key players in the market
• Stay updated with novel technology integration, features, and the latest developments in the market
• Understand the impact of COVID-19 on X-ray and CT imaging and the entry barriers for new companies
• Gain insights into end-user perception concerning the spine X-ray and computed tomography market
• Identify some key players in the market and understand their valuable contribution

Key Questions Answered in the Report

• How has COVID-19 impacted the growth of the global spine X-ray and computed tomography market?
• What are the key regulations governing the spine X-ray and computed tomography market in key regions?
• What technological developments are projected to have the maximum influence on the global spine X-ray and computed tomography market?
• Who are the leading players holding significant dominance in the global spine X-ray and computed tomography market?
• What are some of the growth opportunities which market players can capitalize on?
• What are the drivers and restraints for the global spine X-ray and computed tomography market?
• Which region has the highest growth rate in the global spine X-ray and computed tomography market?
• Which are the fastest growing countries in terms of spine X-ray and CT g market?
• What are the key strategies being adopted by market players in the spine X-ray and computed tomography market?
• Which are the emerging companies in the global spine X-ray and computed tomography market?

Global Spine X-Ray and Computed Tomography (CT) Market Industry Overview

X-rays use electromagnetic radiation to produce images of internal tissues, bones, and tumors. CT scans are the imaging procedure that uses a combination of X-rays and computer technology to produce horizontal or axial images of the body. X-ray and CT devices are used by end markets such as hospitals, clinics, diagnostic imaging centers, and ambulatory surgical centers.

The market for spine X-ray and CT devices is rapidly growing, with an increasing number of X-rays and CT scans used in imaging of vertebral fractures, spinal infections, and spinal tumors, among others. Furthermore, the integration of AI in imaging has accelerated the growth of the market for factors such as rising healthcare costs, a lack of communication between physicians and patients, poor health conditions, a shortage of physicians and medical staff, and the rising prevalence of chronic health disorders. The global spine X-ray and computed tomography market is anticipated to grow rapidly owing to the advancements in the medical imaging industry with the constant demand to provide cost-effective and high-quality solutions in a shorter time period.

The global spine X-ray and computed tomography market report highlights that the market was valued at $916.0 million in 2020 and is expected to reach $1,623.5 million by the end of 2030. The market is expected to grow at a CAGR of 5.91% during the forecast period 2021-2030.

Global Spine X-Ray and Computed Tomography (CT) Market Drivers

The factors driving the growth of the market include an increasing number of spinal injuries driving the need for increased X-ray and CT scans, advent of artificial intelligence in medical imaging, and the growing expenditure in the healthcare industry. The increasing prevalence of falls, rising geriatric population has, in turn, increased the demand for procedural volume of X-rays and CT scans. Governments invest a significant amount of money in healthcare insurance so that the overall healthcare costs can be reduced, and the quality of life and affordability of the treatment can be enhanced.

Global Spine X-Ray and Computed Tomography (CT) Market Restraints

The factors restraining the growth of the global spine X-ray and computed tomography market include the risks associated with radiation exposure and delay in regulatory approvals. Delay in regulatory approval for the products due to the stringent government regulations concerning the use of AI-enabled software in medical imaging hinders the market’s growth. Moreover, another factor restraining the growth of the global spine X-ray and computed tomography market is the high cost associated with medical imaging.

Global Spine X-Ray and Computed Tomography (CT) Market Opportunities

High growth opportunities in emerging economies and the emergence of local companies in Asia-Pacific and the Middle East and Africa hold immense potential for the global spine X-ray and computed tomography market growth.

There is massive scope for spine X-ray and CT devices in developing countriesas countries such as China, India, Brazil, and Mexico possess populations with a high prevalence of spinal injuries and vertebral fractures. Thus, the rising prevalence of spinal injuries tends to increase the volume of X-ray and CT scans, consequently advancing device adoption and the growth of the global market.

Impact of COVID-19 on the Global Spine X-Ray and Computed Tomography (CT) Market

The COVID-19 pandemic had a debilitating impact on the global healthcare ecosystem. Hospitals and clinics faced several challenges such as lack of resources, high patient influx, and risk of infection among care providers. The market is projected to witness considerable growth during the forecast period 2021-2030. The increasing innovations and product designs in the global market and the growing use in emerging economies are the driving factors for the growth of the market.

Market Segmentation

Global Spine X-Ray and Computed Tomography (CT) Market (by Indication)

The global spine X-ray and computed tomography market, based on indication, has been segmented into spinal injuries, spinal tumors, and spinal fractures.

Spinal infections are caused by bacteria or fungi and affect the vertebral body, intervertebral disc, or paraspinal tissue. The increasing prevalence of spinal injuries is increasing the growth of the market as the diagnosis of spinal infections is a prolonged process with the usage of various imaging modalities.

Global Spine X-Ray and Computed Tomography (CT) Market (by Patient Type)

The global spine X-ray and computed tomography market, based on patient type, has been segmented into adults, and pediatrics and neonates. The injuries and fractures are caused by several factors such as falls, accidents, and sports injuries. The geriatric population is more susceptible to the injuries caused due to falls. Moreover, various guidelines and policies have been issued by regulatory bodies and agencies for dose safety in pediatric imaging.

Global Spine X-Ray and Computed Tomography (CT) Market (by End User)

The global spine X-ray and computed tomography market, based on end user, has been segmented into hospitals and clinics, diagnostic imaging centers, and ambulatory surgery centers surgical centers.

Hospitals and clinics are the major end users for the global spine X-ray and computed tomography market. The high volume of the end user makes them the primary diagnosis site for spinal injuries in emerging economies. Furthermore, the adoption of X-rays and CT in ASCs has been increased due to several factors such as personalized care to the patients and reduced recovery time.

Global Spine X-Ray and Computed Tomography (CT) Market (by Product)

The global spine X-ray and computed tomography market, based on product, has been segmented into X-ray devices, CT devices, and AI-enabled X-ray and CT software.

The X-ray devices segment is at the forefront of the spine X-ray and computed tomography market. The increasing focus on the inclusion of advanced technology such as AI and machine learning has been one of the strongest drivers for the growth of the X-ray devices segment.

Furthermore, the diagnosis using CT has greatly benefited from the advancements in AI during the past few years. AI-based solutions are presently being used extensively to interpret and prioritize to reduce the backlogs and the physician’s workload.

Global Spine X-Ray and Computed Tomography (CT) Market (by Region)

The different regions covered under the global spine X-ray and computed tomography market include North America, Europe, Asia-Pacific, and Rest-of-the-World.

North America is expected to be the most lucrative region for the global spine X-ray and computed tomography market due to advanced healthcare infrastructure and a high focus on research and development activities. The Asia-Pacific spine X-ray and computed tomography market is one of the lucrative markets with immense potential for expansion by key players of the global spine X-ray and computed tomography market. The Asia-Pacific spine X-ray and computed tomography market is expected to grow at the fastest rate during the forecast period. This can be attributed to the massive geriatric population base, which is driving the increase in the volume of X-ray and CT scans.

Key Market Players and Competition Synopsis

Some key players operating in the global spine X-ray and computed tomography market include Agfa-Gevaert NV, Arterys, Inc., Carestream Health, Inc., Enlitic, Inc., Fujifilm Holdings Corporation, General Electric Company, Imagen Technologies, Inc., Infervision Medical Technology Co. Ltd., Koninklijke Philips N.V., Nano-x Imaging LTD., Quibim, S.L., Qure.ai Technologies Pvt. Ltd., Siemens Healthineers AG, Shimadzu Corporation, Vuno Co., Ltd.

Some strategies covered in this segment are funding activities, mergers and acquisitions (M&As), partnerships, alliances, business expansion, regulatory and legal activities, and new offerings.

Related Reports: Global AI-Enabled X-Ray Imaging Solutions Market: Focus on Product Type, Workflow, Mode of Deployment, and Application, and 10 Country-Level Data – Analysis and Forecast, 2021-2031

The post Spine X-Ray and Computed Tomography (CT) Market – A Global and Regional Analysis: Focus on Applications, Product, End Users, and Country-Wise Analysis – Analysis and Forecast, 2021-2030 first appeared on CRI Report.

Market Segmentation

• Application – Precision Crop Farming, Livestock Monitoring and Management, Indoor Farming, Aquaculture, and Others
• System Type – Sensing, Communication, Cloud Computing, and Data Management System

Regional Segmentation

• North America – U.S., Canada, and Mexico
• South America – Argentina, Brazil, and Rest-of-South America
• Europe – Germany, U.K., France, Italy, Netherlands, Spain, Denmark, and Rest-of-Europe
• Middle East and Africa
• Asia-Pacific and Japan – India, Japan, China, Australia and New Zealand, Vietnam, Malaysia, Indonesia, and Rest-of-Asia-Pacific

Market Growth Drivers

• Increasing Demand for Global Food Production
• Surging Use of Advanced Technologies in Agriculture
• Emerging Complexities in Data-Driven Farming
• Decreasing Workforce in Agricultural Sector

Market Challenges

• Lack of Proper Internet and Network Connectivity
• Cyber and Online Data Security
• Huge Setup and Subscription Costs
• Reluctance to Adopt and Lack of Technical Awareness

Market Opportunities

• Growing Trend of Agriculture Service Economy
• Increasing Investments in Agricultural Technology Sector
• Increasing Market Opportunities in Developing Countries
• Favorable Government Initiatives to Support IoT in Agriculture

Key Companies Profiled

DEERE & COMPANY, Microsoft Corporation, CNH Industrial NV, Robert Bosch GmbH, Agrivi, The Climate Corporation, Granular Inc., Harvest Croo Robotics, LLC, AeroFarms, OSRAM GmbH, AmHydro, Kalera, Heliospectra AB, Signify Holding (Koninklijke Philips N.V.), Connecterra B.V., DeLaval, Allflex USA Inc., Boumatic LLC, Aquabyte, Inc., AKVA Group ASA, Eruvaka Technologies

How This Report Can Add Value

This report will help with the following objectives:

• Covers major regions associated with the IoT in agriculture market.
• Extensive competitive benchmarking of the top 21 players has been done to offer a holistic view of the global IoT in agriculture market landscape.

Product/Innovation Strategy: The system segment helps the reader in understanding the different types of systems for the agriculture industry and their potential globally. Moreover, the study provides the reader a detailed understanding of the operation of different system categories (i.e., sensing, communication, cloud computing, data management system, etc.). These solutions enable seamless crop management, especially in large-scale commercialized farms.

Recent Developments in IoT in Agriculture Market

• In June 2021, Bosch and BASF partnered to expand business in smart farming technologies.
• In July 2021, John Deere and Ericson, Brazil partnered to provide mobile IoT solutions in the agricultural sector.
• In August 2021, John Deere acquired Bear Flag Robotics for technology service solutions.

Key Questions Answered in the Report

• What is the estimated global IoT in agriculture market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to IoT in agriculture?
• What are the major restraints inhibiting the growth of the global IoT in agriculture market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the IoT in agriculture market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key IoT in agriculture and equipment companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
o Systems including sensing, communication, cloud computing, data management system
o Application, including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, others
• Which type of players and stakeholders are operating in the market ecosystem of IoT in agriculture and equipment, and what is their significance in the global market?
• Which are the leading consortiums and associations in the global IoT in agriculture market, and what are their roles in the market?
• How does the regulatory landscape differ in different regions for IoT in agriculture and equipment?

IoT in Agriculture

Internet of Things (IoT) is a term which refers to the connection of devices to the internet that allows the generation and transfer of massive amounts of data. IoT creates a virtuous cycle that can generate even more precise and tailored products, pushing the boundaries, which helps in digitalization for agriculture.

IoT enables devices entrenched with sensors to connect and interact with each other by using the internet. In the agriculture sector, various devices can be remotely monitored and controlled in real-time, including anything from sheds, tractors, pumps, and weather stations, and computers.

IoT enables one to monitor farm conditions and infrastructure remotely which helps reduce time on field, labor efforts, and investment capital among others allowing the farmers to focus on other things.

IoT in Agriculture Industry Overview

The global IoT in agriculture market was valued at $21.99 billion in 2021, which is expected to grow with a CAGR of 10.1% and reach $35.55 billion by 2026. With the recent advancements in the industry, a transformation is expected to be witnessed as more and more companies are enhancing their product portfolio by introducing data acquisition, agricultural robotics, and analytic services.

Impact of COVID-19

The COVID-19 pandemic has had a significant impact on almost all major industries throughout the world, including the agricultural industry. The pandemic has led to economic instability throughout the world, and the GDP for all countries declined in 2020. The pandemic’s potential impact on the adoption of the Internet of Things (IoT) has increased the traction of sensing technology in the agricultural sector.

Market Segmentation

IoT in Agriculture Market by System Type

The IoT in agriculture market (by systems) was dominated by sensing systems which generated a revenue of $6.72 billion in 2021. Sensor technology constitutes one of the most crucial parts of the development of IoT solutions.

These sensor developments aid in the measurement of various production factors such as soil moisture, nutrients in the soil, weed density, and solar radiation.

IoT in Agriculture Market by Application

The IoT in agriculture market (by application) was dominated by the precision crop farming application area, which generated a revenue of $8.60 billion in 2021. The gradual adoption of smartphones, access to high-speed internet, availability of affordable and reliable satellites for positioning and imagery, and technological advancements in farming equipment have led to the high prevalence and popularity of precision crop farming techniques and equipment.

IoT in Agriculture Market by Region

North America was estimated to hold the highest share of about 35.7% in 2021, thereby accounting for a value of $7.84 billion in the same year. The highest contributing country in the North America IoT in agriculture market is the U.S. due to the prevalence of advanced technology and its implications in the farming sector to increase production.

Key Market Players and Competition Synopsis

Key players operating in the global IoT in agriculture market analyzed and profiled in the study involve companies that provide the required technology for deployment in the agriculture industry. Moreover, a detailed competitive benchmarking of the players operating in the global IoT in agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.

Some of the key players operating in the market include DEERE & COMPANY, Microsoft Corporation, CNH Industrial NV, Robert Bosch GmbH, Agrivi, The Climate Corporation, Granular Inc., Harvest Croo Robotics, LLC, AeroFarms, OSRAM GmbH, AmHydro, Kalera, Heliospectra AB, Signify Holding (Koninklijke Philips N.V.), Connecterra B.V., DeLaval, Allflex USA Inc., Boumatic LLC, Aquabyte, Inc., AKVA Group ASA, and Eruvaka Technologies.

Related Reports: LTE IoT Market : Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

The post Global IoT in Agriculture Market: Focus on System, Application, and Country-Wise Analysis – Analysis and Forecast, 2019-2026 first appeared on CRI Report.

Market Segmentation

• Application – Supply Chain Tracking, Finance Management, Data Management, Land and Property Ownership, and Others
• Type – Public Blockchain, Private Blockchain, and Hybrid Blockchain
• Stakeholder – Growers, Food Manufacturers and Retailers
• Organization – Large Enterprises, Small and Medium Enterprises (SMEs)
• Provider – Application and Solution Provider, Middleware Provider, Infrastructure and Protocol Provider

Regional Segmentation

• North America – U.S., Canada, Mexico, and Rest-of-North America
• South America – Argentina, Brazil, and Rest-of-South America
• Europe – Malta, Estonia, Switzerland, and Rest-of-Europe
• U.K.
• Middle East and Africa – U.A.E., South Africa, Saudi Arabia, and Rest-of-Middle East and Africa
• China
• Asia-Pacific – Japan, Thailand, Singapore, and Rest-of-Asia-Pacific

Market Growth Drivers

• Need for Transparency in Supply Chain
• Government Initiatives to Promote Blockchain in Agriculture
• Stringent Rules and Regulations to Comply With Sustainability Requirements

Market Challenges

• Lack of Awareness and Technical Know-How
• Lack of Standardized Data
• Issues with Data Management

Market Opportunities

• Increasing in Funds and Investments in Agri-Blockchain
• Complexity in Supply Chains
• Development of the Small Farmers’ Cooperatives

Key Companies Profiled

Blockchain Technology Solution Providers: AgriChain Pty Ltd., Ambrosus, arc-net, Bext 360, Coin 22, Filament, FoodCoin Ecosystem, Full Profile Pty Ltd, IBM Corporation, Obook Holdings Inc. (OwlTing), OriginTrail, Project Provenance Ltd., Ripe Technology Inc., Microsoft Corporation, SAP SE, TE-Food International GmbH

Retailers Using Blockchain Technology: Walmart, Alibaba Group, The Kroger Co.

Food Processors Using Blockchain Technology: Nestle S.A., Tyson Foods Inc., Danone

Agricultural OEMs Using Blockchain Technology: Deere & Company, AGCO Corporation, CNH Industrial N.V.

Food Distributors Using Blockchain Technology: Sysco Corporation, McLane Company

Agricultural Commodity Traders Using Blockchain Technology: Louis Dreyfus Company B.V., Cargill Inc., Archer Daniels Midland Company, Bunge Limited

How This Report Can Add Value

This report will help with the following objectives:

• Covering the product, application, and regional market estimations for the blockchain in agriculture and food market.
• Extensive competitive benchmarking of the top 15 players has been done to offer a holistic view of the global blockchain in agriculture and food market landscape.

Product/Innovation Strategy: The product segment helps the reader in understanding the different types of blockchain technologies in agriculture and foods available for deployment in the agriculture and food industry and their potential globally. Moreover, the study provides the reader a detailed understanding of the different blockchain applications in agriculture and foods by type (public, private, and hybrid/consortiums), by organization (large enterprise, and small and mid-size enterprises), by product provider (application and solution provider, middleware provider and infrastructure and protocol provider), and by application (supply chain tracking, financial management, and others).

Recent Developments in Blockchain in Agriculture and Food Market

• In November 2021, OriginTrail launched Acala by bringing its decentralized knowledge graph to Acala’s developer ecosystem.
• In May 2021, Provenance announced a new public, open-source, decentralized, permissionless, proof-of-stake blockchain, which is mainly designed and established to support financial service industry needs by delivering a ledger, registry, as well as exchange across multiple financial assets and markets.
• In October 2019, IBM had launched a blockchain-based supply chain service that comes with AI and IoT integration.
• In May 2019, Taiwan blockchain company OwlTing launched the OBS platform offering commercial solutions with blockchain technology, mainly in biotech, logistics, smart agriculture, automobiles, and food industries.
• In August 2018, Ambrosus launched Mainnet to improve supply chain transparency. Ambrosus now offers a blockchain and IoT platform – AMB-NET 1.0 – for quality assurance in food and pharmaceutical supply chains.

Key Questions Answered in the Report

• What is the estimated global blockchain in agriculture and food size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to blockchain in agriculture and food market?
• What are the major restraints inhibiting the growth of the global blockchain in agriculture and food market?
• What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
• What is the competitive strength of the key players in the blockchain in agriculture and food market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key blockchain in agriculture and food companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
o Product, including providers (application and solution provider, middleware provider and infrastructure and protocol provider).
o Application, including by type (public, private, and hybrid/consortiums), by organization (large enterprise, and small and mid-size enterprises), by application (supply chain tracking, financial management and others).
o Region, including North America, the U.K., Europe, Asia-Pacific, China, the Middle East and Africa, and South America
• What is the type of players and stakeholders operating in the market ecosystem of blockchain in agriculture and food, and what is their significance in the global market?

Blockchain in Agriculture and Food

The agriculture and food market required a lot of inconsistent paperwork and dependency on paper-based documentation. Blockchain provides a systematic digital ledger for storing land records and other data, keeping it safe during natural calamities.

Blockchain technology will be a revolutionary change as it offers tamper-proof, precise statistics about the farms, inventory, credit scores, and food tracking.

The blockchain in the agriculture and food market is still in the developing phase. Increased research and development activities are underway to develop blockchain technology, which is expected to increase the technology adoption by retailers, food processors, and food distributors.

Blockchain in Agriculture and Food Industry Overview

The global blockchain in agriculture and food market was valued at $139.6 million in 2020, which is expected to grow with a CAGR of 51.0% and reach $1,488.0 million by 2026. The growth in the global blockchain in agriculture and food market is expected to be driven by the increased need for transparency in the food supply chain and supportive government initiatives.

Impact of COVID-19

The outbreak of the COVID-19 pandemic and related policies imposed by governments of different countries significantly restricted both the business schedules along with the suppliers’ & customers’ business schedules, mainly in the first fiscal quarter of 2020. Additionally, the downturn in blockchain investments, as well as delays in project developments and postponement and cancellation of major blockchain & cryptocurrency conventions, was caused due to the pandemic. These events mainly aid in the education as well as the marketing of blockchain technology.

Market Segmentation

Blockchain in Agriculture and Food Market by Type

A public blockchain is a type of blockchain that provides open access to the public and that anyone can join without specific permission. This segment dominates compared to a private and hybrid type blockchain system because everyone who enters the network can read, record, and participate in this network that no one controls.

Blockchain in Agriculture and Food Market by Organization

Large enterprises can offer an innovation-based approach to their clients to customize solutions that suit every supply chain’s necessity. This allows companies to achieve higher requirements in the market.

Blockchain in Agriculture and Food Market by Stakeholder

The growers are slightly more dominating than food retailers or manufacturers. This is due to more adoption rates of blockchain technologies by growers such as farmers. The introduction of blockchain into the agricultural supply chain is foreseen as a new way to give farmers an increased stake in the supply chain and more ways to distribute their products across consumers.

Blockchain in Agriculture and Food Market by Provider

The application and solution provider segment is anticipated to dominate the market and grow robustly during the forecast time. The introduction of enhanced technological solutions has undergone significant adoption in the industry, which has boosted the overall market growth.

Blockchain in Agriculture and Food Market by Application

With increasing pilot cases for blockchain in the agricultural supply chain, stakeholders have begun to see high potential for increasing transparency. The arrival of blockchain is also seen as timely because of the rising demand for supply chain transparency and traceability motivated by the increasing number of food outbreaks and food-borne illnesses.

Blockchain in Agriculture and Food Market by Region

North America generated the highest revenue of $81.2 million in 2020. The U.S. dominated the blockchain innovation landscape in the region, with the maximum number of investments and pilot projects being tested in the country. The region is expected to witness high growth of CAGR 48.5% during the forecast period 2021-2026.

Key Market Players

Key players operating in the global blockchain in agriculture and food market analyzed and profiled in the study involve blockchain technology solution providers, retailers, food processors, agricultural OEMs, food distributors, and agricultural commodity traders using blockchain technology.

Some of the key players operating in the market include AgriChain Pty Ltd., Ambrosus, arc-net, Bext 360, Coin 22, Filament, FoodCoin Ecosystem, Full Profile Pty Ltd, IBM Corporation, Obook Holdings Inc. (OwlTing), OriginTrail, Project Provenance Ltd., Ripe Technology Inc., Microsoft Corporation, SAP SE, TE-Food International GmbH and others.

Related Reports: Global Blockchain Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

The post Blockchain in Agriculture and Food Market – A Global and Regional Analysis: Focus on Applications, Products, and Country-Wise Analysis – Analysis and Forecast, 2021-2026 first appeared on CRI Report.