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LED Lighting Market Poised for Substantial Growth Amidst Rising Demand for Sustainable Lighting Options

With its energy efficiency, durability, and versatility, LED lighting systems has caused a huge expansion of the LED lighting market in the past few years. LED lighting has emerged as a frontrunner, revolutionizing the way people illuminate surroundings. It has swiftly gained prominence across residential, commercial, and industrial sectors, reshaping the global lighting industry.

LED lighting technology converts electricity into light using semiconductor materials. Unlike traditional incandescent or fluorescent bulbs, LEDs emit light in a specific direction, reducing energy wastage and enhancing efficiency. This fundamental principle forms the cornerstone of LED lighting’s widespread adoption and success.

Access the LED Lighting Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

Driving Forces

The global LED lighting market had a size value of USD 81.48 billion in 2023. This is expected to reach USD 169 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. There are several driving factors behind the growth of the market. LED lights provide an energy-efficient option. LED lights consume significantly less energy than traditional lighting sources, making them an attractive option for consumers and businesses seeking to reduce electricity bills and minimize environmental impact. With the rising level of construction, the adoption of LED has also risen multifold as the governments are promoting them due to their energy efficiency.

With an impressive lifespan, LED lights outlast conventional bulbs by a wide margin, resulting in reduced maintenance costs and fewer replacements. Moreover, LED lighting emits lower levels of greenhouse gases and contains no hazardous materials such as mercury, aligning with global sustainability initiatives and regulations.

Ongoing advancements in LED technology, including improvements in luminous efficacy, color rendering, and smart lighting capabilities, continue to expand the application scope and appeal of LED lighting solutions. While LED lighting initially carried a higher upfront cost compared to traditional alternatives, economies of scale and technological advancements have driven prices down, making LED lighting increasingly accessible to consumers across various income brackets.

Diverse Applications of LEDs

LED bulbs and fixtures are widely adopted in homes for general lighting, accent lighting, and outdoor illumination, offering homeowners energy savings, aesthetic appeal, and enhanced functionality. From offices and retail spaces to hotels and restaurants, LED lighting solutions are favored for their ability to create inviting atmospheres, optimize workspace functionality, and reduce operational costs.

In industrial settings such as warehouses, factories, and manufacturing facilities, LED lighting’s durability, efficiency, and low maintenance requirements make it the preferred choice for enhancing productivity and safety. LED technology also enables dynamic and customizable outdoor lighting designs, illuminating landmarks, bridges, facades, and landscapes with precision and energy efficiency.

Order Your Sample Copy of the LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application, By Installation Type, By Sales Channel, By End-use, By Region, And Segment Forecasts, 2024 – 2030

Market Trends & Future Outlook

The LED lighting market exhibits robust growth across regions, with Asia Pacific emerging as a key hub due to manufacturing prowess and increasing investments in infrastructure and urban development. North America and Europe follow closely, driven by stringent energy efficiency regulations and growing consumer awareness of environmental sustainability.

As the industry continues to mature, future developments are poised to focus on enhancing connectivity, automation, and sustainability. Smart lighting systems powered by IoT technology will enable remote monitoring, energy management, and personalized lighting experiences, further revolutionizing how we illuminate our surroundings.

Connectivity and IoT Integration: The integration of LED lighting with IoT technology will enable the creation of smart lighting systems that offer unprecedented levels of control, customization, and energy efficiency. These systems will allow users to adjust lighting settings remotely via smartphones or voice commands, optimizing comfort, productivity, and energy savings.

IoT-enabled LED lighting solutions will also gather and analyze data on occupancy patterns, environmental conditions, and energy consumption, providing valuable insights for building management and optimization. This data-driven approach will facilitate predictive maintenance, adaptive lighting schemes, and resource allocation strategies, further enhancing operational efficiency and cost savings.

Sustainable Innovations: With a growing emphasis on sustainability and resource conservation, future developments in LED lighting will focus on circular economy principles, including product design for disassembly, remanufacturing, and material recycling. Manufacturers can explore eco-friendly materials, such as biodegradable polymers and recycled components, to minimize environmental impact throughout the product lifecycle.

Recently, the German government revised its energy plan by shutting down 3 nuclear

power reactors and is rapidly phasing out nuclear-power energy production. The shutdown is expected to result in gaps in energy production. The developments

in the nuclear energy policy are expected to accelerate the demand for renewable energy sources and energy-efficient lighting solutions. Lighting vendors can contribute to the demand for energy-efficient lights by developing more efficient lighting technologies and developing new LED lighting solutions.

Advancements in energy harvesting technologies, such as kinetic energy harvesting and solar-powered lighting, will enable the development of self-sustaining LED lighting solutions. These innovations will enhance off-grid lighting capabilities, particularly in remote or rural areas with limited access to electricity, promoting social equity and economic development.

Human-centric Lighting: Human-centric lighting solutions are expected to prioritize creating dynamic lighting environments that mimic natural daylight patterns, fostering better sleep quality, mood regulation, and cognitive function. These advancements would have profound implications for various settings, including healthcare facilities, educational institutions, and workplace environments, where lighting plays a critical role in enhancing wellness and productivity.

Collaborative Ecosystems: Future developments in the LED lighting market will involve collaboration across diverse industries, including technology, architecture, healthcare, and urban planning. Cross-disciplinary partnerships will drive innovation, foster knowledge exchange, and address complex challenges related to sustainability, urbanization, and human well-being.

To conclude, the future of the LED lighting market is characterized by connectivity, sustainability, human-centricity, and collaboration. By embracing emerging technologies, adopting circular economy practices, and prioritizing user-centric design principles, the LED lighting industry is poised to illuminate a brighter, more sustainable future for generations to come.

Acuity Brands, Inc., Cree Lighting USA LLC, Dialight, Halonix Technologies Private Limited, Siteco GmbH, Syska, YEELIGHT, Zumtobel Group Ag, LSI Industries Inc., Nanoleaf, Panasonic Corporation, SAVANT TECHNOLOGIES LLC, Seoul Semiconductor Co., Ltd., and Signify Holding are some of the leading companies in the LED lighting market.

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Innovative Solutions Driving the Electric Vehicle (EV) Charging Infrastructure Market Forward

The electric vehicle (EV) charging infrastructure market is anticipated to witness an upward growth curve in the near future. This growth can be attributed to the global concern about climate change and the requirement for eco-friendly alternatives, which have led consumers to adopt electric vehicles. Electric vehicles have approximately zero percent CO2 emissions and are increasingly reducing the dependence on fossil fuels. The increasing adoption of electric vehicles worldwide has led to a significant increase in the requirement of charging infrastructure needed for electric vehicles, which in turn is fueling the growth of the market for EV charging infrastructure.

The market is further boosted by the growing affordability of lithium-ion batteries, making EVs a more accessible and attractive choice to a wider range of population. Economic incentives offered by various governments worldwide are likely to be a major driving factor in the EV charging infrastructure landscape. Government regulations and tax exemptions are playing an important role in promoting EV adoption, which in turn is driving the demand for EV charging infrastructure solutions.

Access the Electric Vehicle (EV) Charging Infrastructure Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

According to a new report by Grand View Research Ltd, the global market for EV charging infrastructure was estimated at USD 25.83 billion in 2023 and is projected to grow at a CAGR of 25.4% from 2024 to 2030.

Types of Charging Technologies

The technologies involved in EV charging infrastructure solutions are in an evolving stage. There are basically three types of EV charging categories:

Level 1 Charging: This is the slowest and simplest form of charging. It is done using a 120-volt AC outlet, the same as a standard household outlet in the US. This charging is convenient as it does not require any additional hardware equipment or costs. It may take up to 12 hours to charge an EV.
Level 2 Charging: This type charges the EV faster than Level 1 charging. It uses a 240-volt AC supply to charge an EV battery in a few hours. This is the most common type of public and home charging and is compatible with all EVs.
DC Fast Charging (DCFC) or Level 3 Charging: The DCFC is the fastest to charge an EV battery to 80% in as little as 30 minutes. This technology, although fast, requires additional costly and complex equipment.
Wireless Charging: This technology is still in its nascent stage, and if implemented successfully, it can charge EVs without any connectors or while driving on roadways.

Developments/Innovations in the EV Charging Infrastructure Industry

With the potential growth of the EV market, the demand for faster and more convenient charging options is driving the development of more Level 2 and DCFC stations. Many electric vehicle charging infrastructure providers are innovating to enhance their offerings. For example, Leviton Manufacturing Co., Inc., in January 2023, planned to launch a new EV Series of Level 2 charging stations. These stations, available in 32-, 48-, and 80-amp versions, will be compatible with the My Leviton app and designed to charge all EV models in North America efficiently.

The electric vehicle charging infrastructure market is witnessing many innovations, which also can enhance and improve the existing charging technologies. The integration of on-site energy resources and smart energy management systems is an important development in this regard. This innovation allows for the optimization of energy usage and cost efficiency, making EV charging more sustainable and accessible. The shift of charging infrastructure operators to Open Charge Point Protocol (OCPP) 2.0.1 is also noteworthy, as this protocol tries to standardize the communication between EV charging stations and management systems, which can ensure better interoperability.

Order Your Sample Copy of the Electric Vehicle (EV) Charging Infrastructure Market Size, Share & Trends Analysis Report By Charger Type, By Connector, By Level Of Charging, By Connectivity, By Application, By Region, And Segment Forecasts, 2024 – 2030

The bidirectional charging technology is another revolutionary step in the EV charging solution. This technology allows EVs not only to draw power from the grid but also to supply electricity back to it, which effectively makes EVs into mobile energy storage units. This technology can enhance grid stability and promote the use of renewable energy sources. Furthermore, wireless EV charging is moving from early adoption to roadway trials, where charging is seamless and integrated into the driving experience.

A few of the key players in the EV charging infrastructure market include bp pulse; Tesla, Inc.; Chargepoint Inc.; and ABB Ltd. Conventional automotive manufacturers such as Kia Motors, Volvo, Ford, and Mercedes-Benz are also partnering with charging infrastructure providers to ensure convenient access to charging stations for their customers using their new EV variants. Companies such as Ecotap, Delta Electronics, and Enel X are looking forward to the development of solar-powered electric vehicle charging stations, which may be a shift towards more sustainable energy sources.

In Conclusion

These developments indicate a dynamic market that is rapidly adapting to the growing demand for electric vehicles and the requirement for faster, more cost-effective, and easily available charging solutions.

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Electric Vehicle Market Segmentation: Passenger Cars, Commercial Vehicles, and Beyond

Rise and Rise of Electric Vehicles

Growing awareness about climate change and the need for sustainable practices have led consumers to seek eco-friendly alternatives, prompting electric vehicle market players to boost their portfolios. Consumers are increasingly interested in reducing their reliance on fossil fuels, which has boosted demand for EVs. Governments worldwide are implementing strict emission standards and promoting cleaner transportation. These policies encourage the adoption of EVs by providing incentives, tax breaks, and subsidies.

With countries committing to reduce their carbon footprints, the automotive industry is shifting toward sustainable alternatives like electric vehicles. With improving battery technology, EVs are becoming more powerful and efficient, making them an attractive choice for consumers. In addition, the environmental benefits of reduced greenhouse gas emissions and air pollution are contributing to the appeal of EVs.

The worldwide market for electric vehicle (EV) was valued at approximately USD 646.72 billion in 2023. It is projected to expand at a CAGR of 14.5% over the period from 2023 to 2030, as reported by Grand View Research.

Access the Electric Vehicle Market Size, Share & Trends Analysis Report 2023-2030, published by Grand View Research

Types of Electric Vehicle (EV) (Differentiated on Technologies)

In the evolving landscape of sustainable transportation, three types of electric vehicles stand out for their unique benefits. Battery Electric Vehicles (BEVs) are popular for their zero-emission performance, offering a silent and smooth ride with the added perk of lower maintenance due to their simpler design. Fuel Cell Electric Vehicles (FCEVs) are equally notable for their clean operation, emitting nothing but water vapor, while also diminishing the reliance on oil through the use of hydrogen as a fuel source; they boast the added advantage of rapid refueling times. Plug-in Hybrid Electric Vehicles (PHEVs) provide a versatile solution, running emission-free on short electric drives and seamlessly transitioning to gasoline for extended range, thus eliminating the worry of running out of charge. Collectively, these vehicles are driving the future of mobility towards an eco-friendlier horizon, each with its own set of advantages that cater to the varying needs of consumers seeking greener transportation options.

Autonomous EVs

Electric vehicles are at the forefront of autonomous driving development. Advanced driver-assistance systems (ADAS) find seamless integration into electric platforms. The inherent architecture of EVs facilitates sensor placement and efficient data processing for autonomous features. Autonomous EVs are driven by a complex network of sensors, cameras, radar systems, and advanced AI-based algorithms, which help them navigate and make real-time decisions on the road without any direct human intervention.

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Battery Efficiency/Technology Used in EVs

Battery efficiency remains a top priority for EV manufacturers. Researchers are pushing the boundaries of energy density, cycle life, and safety. While lithium-ion batteries continue to dominate the market, there’s growing interest in solid-state batteries, which promise higher energy density and faster charging capabilities. The availability of high-power chargers (such as 350 kW) is reducing charging times significantly. Ultra-fast charging technologies, often coupled with 800-volt systems, enhance convenience for EV owners, making long trips more feasible.

In addition, weight reduction is critical for extending the EV range. Manufacturers are turning to materials like carbon fiber composites and advanced aluminum alloys to achieve this goal. Researchers continue to explore novel materials for battery casings, thermal management, and other structural components.

Investment Opportunities

Global EV sales are concentrated in China, Europe, and the United States, accounting for nearly 95% of all electric car registrations. In these regions, electric cars hold a significant share of the local car markets. Emerging markets like India, Thailand, and Indonesia have shown promising growth, tripling their electric car sales in 2023.

Electric car sales have been on a robust trajectory. Factors driving this growth include competition among manufacturers, falling battery and car prices, and ongoing policy support. Collaborations between traditional original equipment manufacturers (OEMs), new-entrant OEMs, captive finance companies, and dealerships will be crucial in the coming years. Companies are securing direct deals with battery manufacturers and investing in critical mineral mining to meet EV demand.

Some of the key players in the EV market are Tesla, BYD Company Ltd, and Toyota Motor Corporation, among others. Tesla recently introduced the 2024 Model 3 Performance, an upgraded version of the previously launched Model 3 sedan. Beyond cosmetic enhancements for a sportier look, this electric vehicle (EV) boasts mechanical improvements that enhance its performance. Notably, the new model features a more aerodynamic design compared to its predecessor.

In Conclusion

In summary, the electric vehicle market is poised for continued growth, with EVs inching closer to becoming a mass-market product across diverse regions. As technology advances, affordability improves, and supportive policies persist, the EV revolution is set to reshape the automotive industry worldwide.

Thriving Lubricants Sector: Uncovering Growth Prospects from 2023 to 2030

Lubricants Industry | Forecast 2030

The economic value generated by the lubricants industry was estimated at approximately USD 134.65 billion in 2022. This economic output is an amalgamation of basic lubricant product categories namely, industrial, automotive, marine, and aerospace lubricants.

The global lubricant industry has been witnessing a significant change, particularly in terms of raw materials, owing to the rising demand for bio-based lubricants. Asia Pacific has emerged as one of the largest consumers of lubricants owing to the rapidly growing automotive industry along with industrial development in the region. The most extensively used lubricants in the Asian market include automotive engine oils, greases, and hydraulic fluids. The market in the Asia Pacific has started mirroring the American and European regulatory systems, and countries like Japan and South Korea are thus emphasizing eco-labeled lubricants.

Access the Global Lubricants Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Developing economies such as China, India, and Indonesia etc. are driving the manufacturing Industry across the globe. With an increased number of downstream and midstream projects, such as pipeline network expansion, LNG terminals, and downstream capacity expansion, the use of equipment has also increased, thus demand for specialized lubricants used for proper functioning of machineries will in turn increase for the forecast period.

Lubricants are extensively used in processing industries and automobile parts, especially in brakes and engines which need lubrication for continuous smooth functioning. With the growth in sales of automotive industry the projected consumption of lubricants in the manufacture and maintenance of vehicles is also expected to rise in the coming years. The following graph depicts the number of registered cars in the U.S. during the period 2016 to 2021.

Industrial Lubricants Market Insights

The global industrial lubricants market size was valued at USD 53.17 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. Rapid industrialization in developing countries followed by a rise in the number of trade activities fuels the demand for industrial lubricants. Rising investments in R&D activities along with proper expansion channels help the growth of key players. Some industries slated to witness considerable growth include unconventional energy, chemicals, and mining. This trend is expected to further strengthen product demand in compressors, hydraulics, industrial engines, centrifuges, and bearings.

Over the past decade, emerging economies such as India, Japan, South Africa, China, and Brazil have witnessed a significant rise in the industrial sector. Industries such as the ones manufacturing foundry, plastics, metal consumer appliances, and more, along with mining industries have gained significant importance and thus demand high-quality industrial lubricants.

Order your copy of the Free Sample of “Lubricants Industry Data Book – Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Automotive Lubricants Market Insights

The global automotive lubricants market size was estimated at USD 72.05 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030. Growing demand for high-performance and lightweight vehicles in emerging economies such as India and China along with a shift in consumer preference towards sustainable lubricants is the key factor driving the market growth.

Increasing automotive production coupled with a shift in trend from heavy vehicles to lightweight vehicles is a key driving factor since the latter contributes significantly to weight savings and lower carbon emissions. A 10% reduction in the weight of an automobile results in approximately 5% to 7% fuel savings. In addition, the reduced weight also aids in controlling the emission of CO2 throughout the life cycle of the vehicle. It further helps the overall performance of the vehicle in terms of acceleration and handling. Moreover, the reduction in mass at unhinged points provides for a reduction in noise and vibration, making it a smoother ride. Thus, growing concerns regarding fuel consumption and greenhouse gas (GHG) emissions are expected to boost the demand for lubricants in commercial as well as passenger vehicles.

Marine Lubricants Market Insights

The global marine lubricants market size was valued at USD 7,395.1 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. Rising demand for durable products and increasing trade activities, especially in emerging economies of Asia Pacific, are among the key trends escalating market growth. The U.S. is the largest consumer of the product in North America with a revenue share of 70.9% in 2022. Marine engine oils are the major segment within the marine lubricants market space in the U.S. The production of finished goods that are in high demand in emerging economies is resulting in increased exports from the U.S. As air transport has its limitations, goods are transported through the sea route. Marine lubricants are widely utilized in the shipping industry to protect and enhance the efficiency of engines and equipment. These are high-performance fuels, specially designed to enable optimal performance in operations. They possess various exceptional inherent characteristics such as extending engine life and protecting components at high temperatures, improving performance and reliability of machinery, enhancing protection from mechanical wear and mitigating cold corrosion.

Go through the table of content of Lubricants Industry Data Book to get a better understanding of the Coverage & Scope of the study

Aerospace Lubricant Market Insights

The global aerospace lubricant market was valued at USD 760.4 million in 2014. Increasing air traffic in both developed as well as developing economies such as U.S., UK, India, and China is expected to drive the aerospace lubricant market over the forecast period.

Global air passenger traffic grew by over 6% in 2015 owing to lower airfares along with an increase in the frequency of flights. The Middle East and Africa, outperforming North America, witnessed considerable growth with increasing revenue passenger kilometers year on year. Aviation lubricants improve the operational efficiency of engines, by reducing friction between two coated surfaces, resulting in more distance traveled with the same amount of fuel.

Company Profiles:

ExxonMobil Corp., Royal Dutch Shell Co., British Petroleum, Total Energies, Chevron Corporation, Fuchs Group, Amsoil Inc, CASTROL LIMITED, Philips 66 Company, Valvoline LLC, Idemitsu Kosan Co. Ltd, Lukoil, PetroChina Company Limited, Petrobras, Petronas Lubricant International, Quaker Chemical Corp, PetroFer Chemie, Zeller Gmelin GmbH & Co. KG, Buhmwoo Chemical Co. Ltd, Blaser Swisslube Inc, Zeller Gmelin GmbH & Co. KG, BELLZOIL OVERSEAS PVT LTD, Carol Petroleum Private Limited

Competitive Insights

The global lubricants market is competitive markets with a large number of well diversified regional, and independent small scale and large scale manufacturers and suppliers. The small-scale companies majorly compete on the basis of price, after sales service and delivery timelines. Whereas the large scale companies focus on product development and innovations as well as marketing strategies. Some companies are also redefining their supply chain to reduce cost and customer delays.

Global as well as regional players are developing direct sales channels, especially for automotive lubricant users at their local service centers. Some companies also participate in annual events of their end users and showcase their products at offer prices. Direct sales through such platforms reduces the dependability towards retailers and wholesalers at the same time offering better margins and operational costs. Such sales also develop a strong database of customers which enables the manufacturer to develop a better understanding about the demands.

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Thriving Bedding Sector: Uncovering Growth Prospects from 2023 to 2030

Bedding Industry | Forecast 2030

The economic value generated by the bedding industry was estimated at approximately USD 148.06 billion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing of bedding materials, distribution & supply, and application of bedding.

Technological advancements in bedding materials and manufacturing processes have a significant impact on the bedding market. The development of new materials that can regulate temperature or wick away moisture help to meet the growing demand for bedding that promotes a comfortable and restful sleep.

Asia Pacific dominated the bedding market in 2022 with a revenue share of over 37%. Asia Pacific is expected to remain the largest regional market and witness the fastest growth over the forecast period due to the rapidly growing population thus leading to higher demand for high-quality bedding products for overall comfort. In addition, tourism in the region is increasing the demand for high-quality bedding products in hotels and resorts. This is further expected to bolster the demand for bedding products in commercial spaces.

Access the Global Bedding Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Mattress Market Insights

The global mattress market size was valued at USD 39.4 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. Increasing product demand from the real estate sector to serve the needs of the residential segment has led to an increase in the sales of home furnishings, such as mattresses, pillowcases, and bed linen products, among others. However, the COVID-19 pandemic has impacted the growth of the market. People were reluctant to leave their homes because of the pandemic. As a result, the e-commerce sector has experienced growth, and businesses are creating innovative tactics to enable customers to purchase mattresses from the convenience of their homes.

Consumer willingness to pay for sleep solutions has changed significantly worldwide, not just in the major cities but also in smaller cities and towns. People’s desire to conduct in-depth research, compare pricing and make knowledgeable selections when purchasing mattresses and other sleep solutions have substantially improved as awareness has expanded. The increasing number of luxury hotels in the U.S. is also expected to significantly contribute to revenue growth as the bedding used in these hotels is of superior quality. These products cost a lot more than regular bedding products and this is projected to positively impact the mattress market.

In addition, lifestyle inflation has become a common occurrence among generations X, Y, and Z, and there has been a gradual increase in expenditure with rising incomes. According to research conducted by the Federal Reserve Bank of New York in September 2019, lifestyle inflation is common among low-, middle- as well as high-income individuals. An average American head of the household aged 35 to 44 years carries a non-housing debt of over USD 100,000. Although, the high cost of replacing a mattress makes them unaffordable for middle-income consumers. For instance, according to a blog by Tuck, the average price of a memory foam mattress in 2019 ranged between USD 1,000 and USD 1,100.

Order your copy of the Free Sample of “Bedding Industry Data Book – Bed Linen, Mattress, Pillows and Blankets Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Blanket Market Insights

The global blanket market size was valued at USD 17.0 billion in 2018. Growing application of blankets in the commercial sectors including travel and hospitality, military and defense, and charity is expected to have a positive impact on the market growth. Furthermore, the market has seen a boom as a result of innovation and ease of product availability in affordable price ranges.

The industry is expected to witness further growth as a result of the increasing demand for luxury and comfort among the working-class population in developing countries such as India and China. The pattern, material, and color of blankets play an essential role in influencing the buying behavior of consumers. Considering the change in the buying patterns, a preference for bold and dramatic colors has been observed among consumers. Blanket manufacturing companies have been incorporating these preferable colors and patterns in their new products.

New product developments such as pastel-colored cotton blankets are expected to remain a recent trend. Preference for color and pattern is mostly based on the requirements of products with excellent stain resistance and machine washable properties. Additionally, demand for exotic colors and patterns related to flora and fauna has been observed in countries including India, Vietnam, Myanmar, and Sri Lanka.

Over the past few years, fluctuating weather patterns at a global level have played a crucial role in promoting the utility of electric blankets. The ability of the blanket to warm itself offers temperature control benefits and over-the-top comfort. Growing consumer awareness, coupled with the frequent launch of the new blankets with high quality, is expected to expand the industry size. In addition, an increase in private consumption expenditure is likely to boost the consumption of luxury and decorative products, especially in emerging countries including China and India.

Go through the table of content of Bedding Industry Data Book to get a better understanding of the Coverage & Scope of the study

List of key companies analyzed in this section include:

Acton & Acton Ltd., Tempur Sealy International, Inc., American Textile Company, Serta Simmons Bedding LLC, Casper Sleep Inc., Boll & Branch LLC, Beaumont & Brown Ltd., American Blanket Company, Chellco Industries Limited, Jindal Woollen Industries Ltd., Youngman Woollen Mills Private Limited., Spring Air International, Sleep Number Corp., Kingsdown, Inc., Pacific Coast Feather Company, Trident Ltd., Crane & Canopy Inc., Peacock Alley, Purple Innovation, Inc., Southerland Sleep

Competitive Insights

The manufacturers use a variety of strategies, including acquisitions, the introduction of new products, partnerships, and the bolstering of their distribution networks, to achieve maximum company growth and a strong marketplace. Manufacturers of bedding goods intend to strengthen their market positions by expanding their clientele. Therefore, major market players are pursuing mergers, acquisitions, and other strategic initiatives to achieve business development in the regional market.

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Strategic Procurement Insights for Catering Services: 2023-2030 Forecast

Catering Services Category – Procurement Intelligence

The catering service category is expected to grow at a CAGR of 5.8% from 2023 to 2030. The rise of the catering sector is mostly driven by the rising popularity of online catering. New habits are becoming ingrained and the taste for foreign meals is rising as the urban population grows. The worldwide fast-food sector is expanding as a result of a variety of reasons, including changing food preferences, the rise of online ordering and delivery, and an increase in the number of nuclear families. Consumers all around the world are experimenting with various cuisines as a result of exposure to other cultures and lifestyles, which is also opening up new growth potential for the global fast-food business.

Technologies such as food tracking & traceability and smart appliances are used by the companies. Ann Sather uses food tracking and traceability to ensure the safety and qualityof their food and to track the food from the farm to the table, which can prevent foodborne illness. Aramark use smart appliances which helps them to save time and energy as those appliances can be programmed to cook food automatically, and they can also be monitored remotely.

Access the Catering Services Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

This category is highly fragmented with a variety of large and small market players in the sector. To grow their presence and market share, these market players are launching new services and engaging in a number of merger and acquisition activities. There are many minor market participants with sizeable market shares, and it is projected that they will significantly contribute to market expansion during the evaluation year.

Businesses typically use a fixed pricing structure for menu options. For the food and service, there is a set price per participant. This straightforward pricing approach provides clear explanations of the components and associated fixed rates which are unaffected by size, scope, or preferences. This price structure is often used by both independently owned catering companies and restaurants with catering departments. This pricing strategy attracts clients as it is straightforward and sincere. Food and beverage costs make up the bulk of this category’s costs since businesses must buy the ingredients needed to cook food, and the price of those ingredients varies based on the required quality and quantity. Raw material accounts for 40% of the total cost. A catering service’s transportation costs may vary depending on a number of factors, including the distance to be traveled, the size of the event, the type of food being transported, and the time of day.

One of the biggest markets for this type of category is the U.S., where many companies provide services for weddings, business events, and other special occasions. Another significant competitor in this market is the United Kingdom, which has a long history of providing catering for upscale occasions like state banquets and royal weddings. With numerous Michelin-starred chefs, Germany and France are renowned for their excellent cuisine and catering services. This industry is also expanding in China, which is anticipated to have significant growth over the next few years due to shifting consumer preferences and rising income levels.

Catering Services Sourcing Intelligence Highlights

There are many small and major businesses operating in various regions, which has led to a highly fragmented category for catering services globally. Players are in intense competition with one another as they try to increase their consumer base and provide better customer experiences.

Raw material and transportation & rental costs account for the largest cost component of the catering service business

Fluctuations in raw material prices such as vegetables are expected to impact the service prices.

Most of the service providers offer complete services such as planning required for destination events, appropriate use & maintenance of equipment like utensils, and others.

Order your copy of the Catering Service Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers in the Catering Services Category

Ann Sather

Aramark Corporation

Aria catering

AVI Food Systems

Bartlett Mitchell

Black Olive Catering

Blue Plate

CH and Co Catering Group

Compass Group

Delaware North Companies

Catering Service Procurement Intelligence Report Scope

Catering Service Category Growth Rate: CAGR of 5.8% from 2023 to 2030
Pricing Growth Outlook: 7% – 9% (Annual)

Pricing Models: Fixed price pricing model

Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

Supplier Selection Criteria: Quality, price, safety measures, cost and value, support and maintenance, regulatory compliance, flexibility, and others

Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Emerging Trends and Opportunities in the Customer Relationship Management (CRM) Sector from 2023 to 2030

Customer Relationship Management Industry | Forecast 2030

Grand View Research’s customer relationship management industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Customer relationship management solutions are gaining widespread popularity in diverse industries. As businesses become more customer-centric, the CRM market is expected to witness rapid growth over the forecast period. Ongoing trends such as hyper-personalization of customer service, use of AI and automation, and various customer value models are the key attributes propelling the growth of the segment.

Access the Global Customer Relationship Management Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Moreover, implementing robust social media customer service can help reduce costs, increase response times, improve customer satisfaction, and increase the adoption of CRM platforms across industries. The adoption of CRM software is currently gaining traction in various industries owing to the changing nature of the software in terms of functionalities and features. CRM suites also enable enterprises to gauge business performance and track the sales trajectory, which is turning out to be a lucrative feature for businesses. Salesforce.com’s rapid growth in recent years indicates that cross-sales to existing customers with an installed base for add-ons and upgrades are also contributing to the growth of the market.

Customer Experience Management Market Insights

The global customer experience management market size was valued at USD 12.04 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 15.4% from 2023 to 2030. Customer experience management, often called CEM or CXM. The customer experience management software offers businesses a variety of features such as customer feedback management, customer journey mapping, customer analytics and personalized marketing. With customer experience management solutions, companies can better understand their customers, improve the quality of their products and services, and build long-term relationships with customers.

The market growth can be attributed to the mounting importance of understanding customer behavior and their preferences, which drives various brands and organizations to implement customer experience strategies, such as regularly communicating and engaging with customers, developing a long-term programme, and utilizing automation, to provide the best service performance to customers in real-time. The COVID-19 pandemic is likely to influence businesses significantly, suppressing profitability, stifling innovation, and drying up cash flows and financial reserves. The increasing use of digital technology tools is likely to set the pace for digital transformation and digital optimization in both existing and new businesses. These developments are expected to increase the use of cloud technology and work collaboration tools, thereby assisting customer experience management industry growth.

Order your copy of the Free Sample of “Customer Relationship Management Industry Data Book – Customer Experience Management, Customer Self-service Software, Digital Experience Platform, Sales force Automation Software, Sales Training Software, Marketing Automation Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Customer Self-service Software Market Insights

The global customer self-service software market size was valued at USD 7.12 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 22.1% from 2020 to 2027. The strong emphasis organizations are putting on delivering instant information as part of the efforts to increase productivity and operating efficiency is anticipated to drive the growth of the market. The eminent need to develop better relationships with customers and enhance the level of customer experience to retain the existing customers and attract new ones is also expected to contribute to the growth. The growing demand from customers for efficient services through multiple touchpoints, such as smartphones and the internet, is particularly expected to prompt enterprises to adopt self-service portals.

Digital Experience Platform Market Insights

The global digital experience platform market size was valued at USD 11.17 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2023 to 2030. The continued integration of the latest technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), Virtual Reality (VR), and Machine Learning (ML), into digital experience platform (DXP) solutions, is expected to play a niche role in driving the growth of the DXP market during the forecast period. Digital transformation has gained significant traction in the wake of the outbreak of the COVID-19 pandemic. Several businesses are adopting DXP solutions to ensure business coherence and process optimization. Looking forward, DXP solutions would help teams in learning to collaborate, thereby opening new opportunities for the growth of the digital experience platform market over the forecast period.

Sales Force Automation Software Market Insights

The global sales force automation software market was valued at USD 9.25 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2023 to 2030. The rapidly evolving business landscape, utilizing innovative technologies, has become a strategic requirement for firms seeking to continue being competitive and relevant. The expansion of the market can be attributed to a combination of factors such as data-driven decision-making, adoption of remote work patterns, and reduced operational cost that collectively promotes its adoption, resulting in greater operational efficiency, improved customer interactions, and competitive advantage.

Go through the table of content of Customer Relationship Management Industry Data Book to get a better understanding of the Coverage & Scope of the study

Sales Training Software Market Insights

The global sales training software market size was valued at USD 1.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 14.0% from 2022 to 2030. The industry growth can be attributed to the rising corporate competition and changing business needs. Small- & Medium-scale Enterprises (SMEs) & large-scale companies are regularly investing in the training of their sales and other teams. Furthermore, the rising adoption of Customer Relationship Management (CRM) software, which provides sales enablement tools to facilitate efficient collaboration with other sales representatives, is creating robust growth opportunities. The COVID-19 pandemic adversely impacted the industry in the first three quarters of 2020.

Marketing Automation Market Insights

The global marketing automation market size was valued at USD 4.06 billion in 2019 and is expected to witness a CAGR of 9.8% from 2020 to 2027. Owing to the digitalization of industries, rising internet penetration, and the use of mobile devices, the demand for automating marketing solutions has been increasing rapidly. Increasing demand for personalized advertising, retention of users for business growth, and the need for informed advertising strategy are some of the major factors expected to drive the growth. Moreover, the rise in the adoption of IoT devices, an increase in big data, and data analytics solutions, and demand for business automation, and insights will propel the market growth.

Competitive Landscape

The market is competitive with the presence of major Adobe Inc., IBM Corporation, Salesforce.com, Inc., Sitecore among others. These companies maintain an exhaustive product portfolio and are employed to maintain a competitive edge in the market, their product offerings, the applications segment they served, the sophistication of their technology, their strategy to differentiate their products, and their industry impact.

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Advancements in Cell Culture Technology Propel Industry Growth in 2023-2030

Cell Culture Industry | Forecast 2030

Grand View Research’s Cell Culture Industry databook is a collection of market sizing & forecasts insights, market dynamics & trends, opportunity assessment, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the databook, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.The following data points will be included in the final product offering in four reports and one sector report overview.

Cell Culture industry data book is a combination of the market data from four reports namely, cell culture, cell culture media, 3D cell culture, and primary cell culture market. Cell culture market was valued at USD 21.05 Billion in 2021 with CAGR of 11.86% during 2022-2030. Cell culture media market and primary cell culture market are also growing at the CAGR of 12.13% and 10.66% respectively.

Access the Global Cell Culture Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Advancements in these techniques such as 3D cell culture and its growing adoption for biopharmaceuticals manufacturing, tissue engineering, and drug development applications are projected to boost the demand for cell culture products. Also, large number of oncology focused research trials and broadening scope of gene therapy applications are also expected to drive the market growth. In addition, development in regenerative medicine market space and high unmet medical needs in emerging markets are expected to drive the adoption of cell culture technologies. The combination bundle of these reports is designed to provide a holistic view of these highly dynamic market spaces in this industry.

Cell Culture Market Insights

The global cell culture market size was estimated at USD 16.59 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.32% from 2023 to 2030. Its growth can be attributed to the rapid adoption of cell culture techniques to develop substrates for the safe production of viral vaccines, and the rising global demand for advanced therapy medicinal products. Furthermore, novel three-dimensional cell culture techniques and the growing need for them in biopharmaceutical development & vaccine production are expected to drive the market growth over the forecast period. The COVID-19 pandemic has presented researchers with the opportunity to investigate the novel contagious virus for the creation of therapeutic and diagnostic tools.

Order your copy of the Free Sample of “Cell Culture Industry Data Book – Cell Culture, Cell Culture Media, 3D Cell Culture, Primary Cell Culture Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Cell Culture Media Market Insights

The global cell culture media market size was estimated at USD 4.73 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.54% from 2024 to 2030. Cell culture media is generally a gel or liquid including compounds required to regulate and support the growth of cells or microorganisms used in the manufacturing of biopharmaceuticals. Culture media is a critical ingredient in biopharmaceutical manufacturing, aiding the growth of cells, and is the fastest-growing segment within this market. This growth is mainly driven by growing demand for biopharmaceuticals, favorable governmental policies, and increasing investment in R&D.

3D Cell Culture Market Insights

The global 3D cell culture market size was estimated at USD 1.57 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 11.22% from 2024 to 2030. The growth of the market can be attributed to the rising efforts to develop potential alternatives to animal-based testing and the availability of funding programs for research. Moreover, consistent efforts in R&D activities by biopharmaceutical companies for drug development & discovery, and emphasis on the adoption of 3D cell cultures in cancer research are other factors anticipated to fuel market growth over the projected period. Animal models are largely used in cellular-based studies for studying the outlook of various diseases. However, they carry several demerits such as a lack of response accuracy, differences in response from different species, etc. Thus, to manage these issues, various government organizations are involved in promoting alternative ways for drug development.

Go through the table of content of Cell Culture Industry Data Book to get a better understanding of the Coverage & Scope of the study

Primary Cell Culture Market Insights

The global primary cell culture market size was estimated at USD 4.87 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.3% from 2024 to 2030. The market growth can be primarily attributed to the increasing prevalence of chronic conditions, such as cancer, infections, autoimmune diseases, diabetes mellitus, cardiovascular diseases, and neprological diseases. This has led to an increase in research, facilitating the high adoption of primary cell cultures.

Furthermore, the growing need for primary cell culture is being driven by increased research to find novel treatments. Cancer is becoming increasingly prevalent all across the world. According to WHO projections, the number of cancer deaths worldwide will continue to climb and will reach over 17 billion by 2030. Moreover, as per American Cancer Society (ACS) Journals published in February 2021, there are 19.3 million cancer cases worldwide, and 10.0 million new cancer cases were recorded in 2020. A rapid growth in incidence of cancer across the globe will lead to an increased demand for novel therapeutics, hence anticipated to propel market growth.

Competitive Landscape

Competitive rivalry in the cell culture industry is high due to the presence of a large number of both well-established players and small- to mid-sized companies as well as CROs in the market space. Some of the major players are Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Sartorius AG, Eppendorf AG, Merck KGaA, Becton, Dickinson and Company, PromoCell GmbH, and Lonza Group AG among many others. These market players are involved in the manufacturing of various products associated with this industry including cell media, reagents, consumables, and equipment along with certain services.

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Transforming Workforce Productivity: Insights into the Enterprise Mobility Management Sector

Enterprise Mobility Management Industry | Forecast 2030

The global enterprise mobility management market size was evaluated at USD 12.01 billion in 2022 and is expected to grow at a CAGR of 24.4% from 2023 to 2030. Enterprise mobility management (EMM) products are witnessing growing demand across the globe owing to a significant increase in mobile devices, and shifting various end-user companies’ focus on protecting their digital infrastructure is propelling market growth. Further, advancements in cloud-based EMM solutions are creating a positive outlook for the market. The rising adoption of Bring Your Own Device (BYOD) policies and the rising mobile workforce by various enterprises to enhance employees’ productivity are expected to drive market growth in the forecast period.

Access the Global Enterprise Mobility Management Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Moreover, enterprise mobility management enables businesses to enhance their workplace efficiency and productivity, control operational costs, and reduce device downtime. The solution benefits the IT administration to remotely distribute applications across end-users, making the data accessible to them easily. In addition to the benefits, the solution offers advanced privacy capabilities, including remote data encryption and wiping to secure business information.

The growing focus of governments across countries, such as the UK, India, Canada, Brazil, and Saudi Arabia, to apply stringent regulations and laws on safeguarding personal and private information is further anticipated to boost the enterprise mobility management market growth. The aim to fund multiple research projects supporting cybersecurity product development to enhance digital infrastructure data security is fueling the demand in the market.

Mobile Device Management Market Growth & Trends

The global mobile device management market size is expected to reach USD 28.37 billion by 2030, registering a CAGR of 24.2% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The market is expected to witness growth due to the increasing adoption of mobile devices in the workplace and the need to secure and manage them. With the proliferation of smartphones, tablets, and other mobile devices, employees are increasingly using their personal devices for work purposes. This trend, commonly referred to as Bring Your Own Device (BYOD), has led to an increase in the number of mobile devices that need to be managed and secured within an organization. Mobile device management (MDM) solutions provide a centralized platform for managing & securing mobile devices, including the ability to enforce security policies, monitor device usage, and remotely wipe data in case of loss or theft.

As more organizations adopt BYOD policies or provide employees with company-owned mobile devices, the demand for MDM solutions is expected to continue to grow. Furthermore, the adoption of mobile devices has been further accelerated by the COVID-19 pandemic, as remote work has become the norm for many organizations. As employees work from home or other locations outside of the traditional office, the need for MDM solutions to manage and secure employee devices outside of the organization’s network perimeter has increased. However, the mobile device landscape is highly fragmented, with a wide range of operating systems, device types, and versions in use. This fragmentation makes it difficult for MDM solutions to provide comprehensive management and security across all devices.

Order your copy of the Free Sample of “Enterprise Mobility Management Industry Data Book – Mobile Device Management, Mobile Identity Management, Mobile Content Management and Mobile Application Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

Mobile Identity Management Market Growth & Trends

The global mobile identity management market size is expected to reach USD 16.97 billion by 2030 and grow at a CAGR of 26.6% from 2023 to 2030, according to a recent report from Grand View Research, Inc. Mobile Identity Management (MIM) solutions are becoming increasingly important as more employees use mobile devices to access company data and applications. With the advent of mobile workforces and Bring Your Own Device (BYOD) regulations, MIM solutions provide organizations with a secure and practical approach to managing user identities and accessing company resources on mobile devices.The increased adoption of mobile devices and the necessity for safe access to corporate resources from these devices are projected to drive demand for MIM solutions. Furthermore, as more organizations migrate to cloud-based services, MIM solutions will safeguard access to such services.

Mobile device management (MDM) capabilities, which are frequently included in MIM systems, enable organizations to put security limits on mobile devices, such as mandating encryption and limiting access to applications and data. An essential security component of Mobile Identity Management (MIM) is two-factor authentication (2FA), which adds an extra layer of security on top of a username and password. 2FA provides additional security to guard against unauthorized access to sensitive data or systems by providing an additional layer of authentication. Cyber dangers are more likely to affect mobile devices than traditional desktop or laptop PCs. MIM provides security features, including multi-factor authentication, mobile device management, and secure data transit to guard against these risks.

Go through the table of content of Enterprise Mobility Management Industry Data Book to get a better understanding of the Coverage & Scope of the study

Mobile Content Management Market Growth & Trends

The global mobile content management market size is expected to reach USD 12.29 billion by 2030 and expand at a CAGR of 22.2% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc.The market is expected to grow with the rise of mobile devices in the workplace, businesses are coping to manage and secure these devices while also enabling workers to work quickly and collaboratively. BYOD policies, which allow employees to use personal devices for work purposes, are growing in popularity but pose security threats. To serve the expanding number of mobile internet users, organizations aim to produce, manage, and offer content that is optimized for mobile devices.

The recent emergence of artificial intelligence (AI), machine learning (ML), and automation technologies are revolutionizing the content management industry, specifically mobile content management. These technologies enable businesses to deliver personalized and targeted content experiences, while also streamlining content creation, curation, and delivery processes. By leveraging AI, ML, and automation, companies can offer their customers customized content experiences, improve operational efficiency, and gain a competitive advantage in the market. Moreover, mobile content management solutions have increased collaboration and productivity by offering employees real-time access to the most recent versions of documents and data. This can help to reduce errors and improve efficiency.

Competitive Landscape

The market is competitive with the presence of major Cisco Systems; SAP SE; Broadcom, Inc.; Vmware, Inc.; Ivanti; Sophos; and Blackberry, among others. These companies maintain an exhaustive product portfolio and are employed to maintain a competitive edge in the market, their product offerings, the applications segment they served, the sophistication of their technology, their strategy to differentiate their products, and their industry impact.

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Emerging Trends and Future Prospects in the Cloud Computing Industry

Cloud Computing Industry | Forecast 2030

The global market size for cloud computing was estimated at USD 483.97 billion in 2022 and is anticipated to increase at a CAGR of 14.1% from 2023 to 2030. The growth can be attributed to factors such as the increasing amount of data generated by mobile applications and websites, the need for large storage requirements, the increasing need to deliver customer-centric applications to increase customer satisfaction, and the need for control and reduction of Capital Expenditures (CAPEX) and Operational Expenditures (OPEX). Several emerging technologies are driving the growth of the global cloud computing market, such as big data, Artificial Intelligence (AI), and Machine Learning (ML). In addition, cloud computing services are driven by other prominent factors, such as protecting private information, increasing Disaster Recovery (DR) speed, and the execution of regulatory mandates. As a result, cloud storage services with unlimited storage are increasingly being implemented by enterprises.

Access the Global Cloud Computing Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Cloud services provide businesses and individuals with a secure, safe way to store important data. Furthermore, cloud accounts include various encryption tools to protect data, which may increase demand for public cloud services. According to the survey report conducted by Flexera Software in March 2023, the multi-cloud would primarily be used for security tools, followed by cost optimization tools, governance tools, and management tools.

Public Cloud Market Growth & Trends

The global public cloud market size is expected to reach USD 596.0 billion by 2027, expanding at a CAGR of 14.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Owing to the high scalability and reduced operational costs offered by cloud services in the wake of digital transformation of industries, the market is witnessing rapid growth. Moreover, enterprises across the globe are gradually adopting public cloud technology to rapidly build, test, and release quality software products.

The public cloud is a multi-tenant environment, which offers rapid elasticity and high scalability with capability to consume resources on a pay-per-use basis. Governments and institutions are planning gradually to completely integrate its conventional systems with these computing technologies. As a part of the IT Modernization effort, U.S Federal Government had initiated Cloud Smart Strategy in October 2018 to improve citizen-centric services, accessibility, and maintain cybersecurity. Moreover, adoption of the technology is rapidly gaining importance among Small and Medium Enterprise (SMEs) sector due to the cost competitiveness offered in the market.

Order your copy of the Free Sample of “Cloud Computing Industry Data Book – Public Cloud, Private Cloud and Hybrid Cloud Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

Private Cloud Market Analysis and Forecast

The global private cloud market was valued at USD 222.30 billion in 2022 and is expected to grow at a CAGR of 14.7% over the forecast period from 2023 to 2030. Businesses with variable networks frequently use the private cloud to ensure access and total control over the cloud environment. Enterprises are adopting a private cloud due to the necessity for data protection and compliance with the shifting regulatory environment. Companies aim to lower CAPEX while concentrating on business transformation projects that improve organizational agility.

Hybrid Cloud Market Analysis and Forecast

The global hybrid cloud market size was valued at USD 90.28 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030. There has been a significant shift toward hybrid infrastructure services due to the expansion of cloud and industrialized services and the loss of traditional Data Center Outsourcing (DCO). A decline in traditional DCO is due to the increase in infrastructure utility services, colocation, and hosting spending. This is anticipated to fuel the transition to cloud hosting. Moreover, government agencies are refocusing their efforts on implementing hyper-scale clouds, which offer advantages including unified operations, data center modernization, application innovation, and security and governance. Furthermore, the cloud allows government organizations to handle cyclical demands or emergencies without overprovisioning hardware.

Go through the table of content of Cloud Computing Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

The market is highly competitive due to the presence of major players such as Alibaba Group Holding Ltd.; Amazon.com Inc.; Adobe Inc.; Google LLC; Microsoft Corp.; International Business Machines Corp; Oracle Corp.; Salesforce.com Inc.; SAP SE; and Workday, Inc. Companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in this competitive industry. For instance, in May 2023, SAP SE expanded its partnership with Google Cloud, to introduce an open data offering that simplifies data landscapes and increases business intelligence. SAP Datasphere and Google’s cloud-enable customers to build end-to-end data clouds that bring data from across their enterprise landscape, allowing businesses to view the entire data estate in real time and maximize the value of their SAP SE and Google Cloud software investments. The new Google Cloud open data offering complements SAP’s RISE with SAP solution, allowing customers to view their most crucial data without duplication in real-time.

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