CAM software market is anticipated to grow at a significant CAGR of 7.7% during the forecast period (2024-2031). The expansion of the CAM (computer-aided manufacturing) software market is supported by pivotal factors such as the global industrial transition into industry 4.0 & smart manufacturing, and advancement in manufacturing capabilities such as incorporating 3D printing in manufacturing workflow. Moreover, the rise in hybrid manufacturing techniques and the development & integration of advanced technologies such as artificial intelligence (AI), augmented reality/virtual reality (AR/VR), and the internet of things (IoT) into CAM software is also fueling the market growth.
Printed & flexible sensors market is anticipated to grow at a CAGR of 9.7% during the forecast period (2024-2031). The market for printed and flexible sensors is expected to increase owing to the increasing need for flexible sensors in sophisticated driver assistance systems and the expanding use of printed sensors in smartphones, tablets, and gaming devices that can be customized for various functions. According to Photonics21, in 2024, $8 billion was spent on sensors for cameras and liars used in advanced driver assistance systems.
Distribution transformer market is anticipated to grow at a CAGR of 10.7% during the forecast period (2024-2031). The rising use of renewable energy sources, the need for advanced transformers for wind, solar, and hydropower technologies, policies that encourage rural electrification and the integration of renewable energy sources, and the expansion of power transmission and distribution networks is driving the market's growth. According to the International Energy Agency (IEA), 2024, energy consumption grew by 2.2% in 2024 globally, slower than the 2.4% growth observed in 2022. In 2023, China, India, and many countries in Southeast Asia experienced a sharp increase in demand for power.
Photovoltaic switch market is anticipated to grow at a CAGR of 7.8% during the forecast period (2024-2031). Technological improvements in photovoltaic switches that lower the cost of installing solar panels and increased government incentives and policies that encourage solar energy are driving the global expansion of the photovoltaic switch market. According to the International Energy Agency (IEA), in July 2023, solar PV generation increased by a record 270TWh (up 26.0%) in 2022, reaching almost 1300TWh. China continues to lead in terms of solar PV capacity additions, with 100 GW added in 2022, almost 60.0% more than in 2021.
Micro mobile data center market is anticipated to grow at a significant CAGR of 11.2% during the forecast period (2024-2031). The increasing demand for improved data security and compliance, the rising use of cloud services, the development of 5G network deployments, and the growing demand for IT infrastructure in remote locations are all factors contributing to the market's growth. According to the International Energy Agency (IEA), in October 2024, the entire US oil and gas market, which accounts for around 0.5% of the US GDP, was less than the capital investment made by Google, Microsoft, and Amazon, players in the adoption of AI and the construction of data centers in 2023.
Autonomous enterprise market is anticipated to grow at a significant CAGR of 12.6% during the forecast period (2024-2031). The market for autonomous enterprise is expanding extensively owing to factors such as increasing acceptance of autonomous IT structure, accelerating advancements in artificial intelligence (AI) and machine learning (ML) with expanding edge computing and cloud computing solutions. According to the International Trade Administration (ITA), by 2030, artificial intelligence will boost the global economy by $15 trillion. From an estimated $157 billion in 2020 to an estimated $300 billion in 2024, the global AI market is anticipated to rise.
Automatic transfer switch (ATS) controller market is anticipated to grow at a CAGR of 10.6% during the forecast period (2024-2031). The market expansion of ATS controllers is supported by pivotal factors such as increasing integration of automated transfer switches across the energy infrastructure, advancement in smart grid technology, increasing investments in developing backup power stations, and expansion in industrial automation. Further, the shift towards the incorporation of energy-efficient devices, and the development of modular & technologically advanced ATS controllers is also contributing to the growth of the market.
Wire stripping and twisting machine market is anticipated to grow at a significant CAGR of 11.4% during the forecast period (2024-2031) driven by increasing demand for automation in manufacturing processes, advancements in wire processing technologies, cost-efficiency and precision offered by modern wire stripping machines, and growth in the consumer electronics and electrical equipment industry.
Digital manifold gauges market is anticipated to grow at a significant CAGR of 10.8% during the forecast period (2024-2031). The industry growth is attributed to the rising demand for precision measurement tools, increasing applications in automotive, the surge in refrigeration and air conditioning markets, the emergence of IoT integration in measurement tools, and the growing emphasis on energy efficiency.
Passenger cars maintenance, repair, and overhaul (MRO) market is anticipated to grow at a significant CAGR of 14.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as an expansion of aftermarket services and products, e-commerce growth in auto parts and services, rising consumer awareness of vehicle safety and reliability, growing demand for enhanced vehicle performance, and a shift toward electric and hybrid vehicles. According to the Australasian Fleet Management Association (AfMA), in July 2024, Global electric vehicle (EV) sales reached 14.1 million units, with battery electric vehicles (BEVs) accounting for 70.0% and plug-in hybrid electric vehicles (PHEVs) for 30.0%.
Artificial intelligence (AI) in oil & gas market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the rising investments in AI technologies, operational efficiency, and cost reduction, data analytics and decision-making, and increased adoption of AI-powered robotics. According to the International Trade Administration, in 2021, AI global funding doubled to $66.8 billion, and a record 65 AI companies reached $1B+ valuations, up 442.0% from the previous year. Each year, more and more companies and governments worldwide adopt AI solutions.
Super Speed USB controller market is anticipated to grow at a significant CAGR of 13.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the global expansion of cloud computing and data centers, the emergence of 5G technology and enhanced connectivity, support for multiple device connectivity and power delivery, surge in gaming and high-performance computing. According to the International Energy Agency, in July 2023, globally, data transmission networks consumed 260-360 TWh in 2022, or 1-1.5% of global electricity use.
Fault passage indicators (FPIs) market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for quick response and restoration of power networks, regulatory push for grid modernization and energy efficiency, growing focus on reducing power outages and system downtime, and rising awareness about reducing maintenance costs for utilities. According to the International Energy Agency, in July 2024, Global electricity demand is forecast to grow by around 4.0% in 2024, up from 2.5% in 2023
Remote terminal units (RTUs) market is anticipated to grow at a significant CAGR of 11.8% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as government initiatives for renewable energy integration, increased utilization in oil & gas, water & wastewater management sectors, the demand for real-time data monitoring and control systems, and increased focus on energy management and smart grids. According to the Global Smart Energy Federation (GSEF), the global smart grid market was at $100.3 billion in 2022 and is growing to approx. $185.6 billion by 2032.
Relays market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for automation in industrial processes, growth in renewable energy projects and grid modernization, expansion of smart home and IoT applications, and surge in power infrastructure development. According to the Global Smart Energy Federation (GSEF), the global smart grid market was at $100.3 billion in 2022 and is growing to approx $185.6 billion by 2032.
Home textile market is anticipated to reach $195 billion by 2031 and is growing at a significant CAGR of 5.6% during the forecast period (2024-2031). A key driver of this growth is the increasing focus on personalized living spaces. With rising disposable incomes, homeowners are investing in high-quality home textiles to create environments that reflect their style while providing comfort and functionality. This trend extends beyond mere aesthetics, encompassing eco-friendly and technologically advanced textiles that align with broader societal shifts toward sustainability and innovation.
Immersion cooling market is anticipated to grow at a significant CAGR of 24.1% during the forecast period (2024-2031). Immersion cooling has grown more and more popular since it is scalable, sustainable, and energy-efficient. It satisfies environmental requirements, lowers energy consumption, and meets the objectives of high-density computing. The demand for small, effective cooling solutions is driven by increasing markets and technological developments, ensuring a sustainable and effective cooling system.
Trifluridine API market is anticipated to grow at a considerable CAGR of 8.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors increasing rates of Herpes Simplex Virus (HSV) infection, rising antiviral drug demand, and developments in drug delivery technology. Millions of people globally are affected by herpetic keratitis and other HSV infections every year. Trifluridine and other antiviral medications are used to treat HSV infections. Moreover, the need for drugs such as trifluridine API is being driven by the growing awareness of eye health and the accessibility of efficient treatments. According to the World Health Organization (WHO), in April 2023, an estimated 3.7 billion people under age 50 (67.0%) globally had HSV type 1 (HSV-1) infection, the main cause of oral herpes.
Robotic wheelchairs market is anticipated to grow at a significant CAGR of 9.6% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as the growing aging population probable to have immobility problems, an increasing number of cases of obesity, neurological diseases, paralysis, strokes, and knee injuries which drive the growth of the market. According to the National Center for Biotechnology Information, in January 2022, there are over 100 million people who need or use wheelchairs globally. 66.5% of individuals with disabilities ranked self-driving or Robotic Wheelchairs (RWs).
Portable screening tympanometer market is anticipated to grow at a CAGR of 6.1% during the forecast period (2024-2031). The market growth is attributed to the growing prevalence of portable screening tympanometers, owing to their portability, simplicity of use, and applicability for screening in a range of healthcare settings. On the other hand, tabletop models are favored in clinical settings where thorough examinations and diagnosis are necessary. Additionally, increasing hearing loss cases globally drives the growth of the market. According to the World Health Organization (WHO), in February 2024, by 2050, nearly 2.5 billion people are projected to have some degree of hearing loss, and at least 700 million require hearing rehabilitation.
Outbound medical tourism services market is anticipated to grow at a CAGR of 13.6% during the forecast period (2024-2031). Outbound medical tourism involves traveling from one's native country to another country for medical treatment. This sector broadly includes two services, namely, traveling services and treatment services. The market for outbound medical tourism services is projected to grow significantly owing to factors such as increasing trends for international treatments, preference for low-cost treatments in non-native countries, and the growth of medical tourism facilitators. These trends are supported by the easing of regulatory barriers in international treatments, improved global connectivity, and increasing awareness of the diverse options available internationally.
Opioid-Induced Constipation (OIC) treatment market is anticipated to grow at a significant CAGR of 9.3% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as enhancing financing for R&D allows for the investigation of targeted treatments intended to tackle the difficulties associated with opioid-induced constipation. Precision medicine and medicines that specifically address the underlying causes of constipation are gaining ground and improving treatment success. According to the National Center for Biotechnology Information (NCBI), in April 2024, globally, in international studies, the prevalence of OIC ranges from 8.9% to 81.0%. The prevalence of OIC increases with the prolonged duration of opioid use.
Next-generation biomanufacturing market is anticipated to grow at a CAGR of 10.4% during the forecast period (2024-2031). Next-generation biomanufacturing involves an advanced approach to producing biological products, including pharmaceuticals, biofuels, and other biotechnological products, leveraging cutting-edge technologies and innovation. Further, the market is expected to experience significant growth in the future attributed to the growing demand for biopharmaceuticals, a supportive regulatory environment for industry development, and the growing integration of AI (Artificial Intelligence), ML (Machine Learning), and digital technologies.
Molded foam component market is anticipated to grow at a significant CAGR of 8.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the packaging industry utilizing molded foam components for protective packaging solutions and increasing demand for molded foam components in the bedding and furniture industry. The automotive industry is a significant end-user of polyurethane foam, accounting for over 30.0% of the market share.
Microelectronics packaging market is anticipated to grow at a CAGR of 7.6% during the forecast period (2024-2031). Microelectronics packaging involves encasing and protecting microelectronic components such as Integrated Circuits (ICs) and semiconductors from external damage to ensure their smooth functionality and durability in various applications. It encompasses a range of packaging technologies, including Chip-On-Board (COB), Ball Grid Array (BGA), and flip-chip, which are essential for devices such as smartphones, computers, and automotive electronics.
Expanded polypropylene packaging market is anticipated to grow at a significant CAGR of 7.9% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as growing automotive and consumer electronics sectors globally and increasing demand for robust and lightweight packaging solutions. According to the World Integrated Trade Solution, in 2021, the top exporters of polypropylene, in primary forms are Saudi Arabia ($6,827 million), Korea, Rep. ($2,824 million, 2,040,690,000 Kg), US ($2,070 million, 917,173,000 Kg), Germany ($2,025 million, 1,123,410,000 Kg), China ($1,856 million, 1,267,280,000 Kg).
DNA methylation detection technology market is anticipated to grow at a significant CAGR of 10.3% during the forecast period (2024-2031). The market growth is attributed to increasing emerging startups in the biotechnology and pharmaceutical industries, growing partnerships between academic institutions, and growing use of DNA methylation detection technology as epigenetic biomarkers with an increasing range of tools, software, and consumables. According to the National Center for Biotechnology Information (NCBI), in September 2023, an individual’s diet and lifestyle significantly influence cancer etiology. Studies suggest that dietary habits may contribute to over 30.0% of cancer-related mortalities in the US.
Caustic soda market is anticipated to grow at a significant CAGR of 12.3% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as increasing demand for caustic soda in industrial applications owing to its strong alkaline nature. It is integral to the manufacture of petroleum products, pulp and paper, alumina, textiles, soaps, and detergents, along with its application in chemical processing, water treatment, and petroleum processing. According to the Department of Health, around 56.0% of sodium hydroxide produced is used by industry, with 25.0% of NaOH used in the paper industry.
Cathode material market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The cathode material market is crucial for producing high-performance batteries used in electric vehicles, consumer electronics, and energy storage systems. It is expected to experience significant growth owing to the increasing demand for Electric Vehicles (EVs), advancements in battery technology, and government incentives to promote renewable energy and greener technologies. Further, the current market trends include a shift towards high-energy-density cathodes, and the development of alternative cathode materials is expected to influence the market demand.
Car recycling and dismantling market is anticipated to grow at a significant CAGR of 12.1% during the forecast period (2024-2031). The market growth is attributed to increasing economic and environmental benefits in recovering materials from End-Of-Life Vehicles (ELVs), and remanufacturing of Waste Steel Sheets (WSS) from ELVs into useful Mesh Steel Sheets (MSS) for metal forming applications drive the growth of the market. According to the World Steel Association AISBL, the average recycling rate for steel and iron in cars is about 90.0%. Each year, the steel industry recycles more than 14 million tons of steel from ELVs. This is equivalent to nearly 13.5 million automobiles. When comparing the amount of steel recycled from automobiles each year to the amount of steel used to produce new automobiles that same year, automobiles maintain a recycling rate of nearly 100.0%. By weight, the typical passenger car consists of about 65.0% steel and iron.
Caprolactone market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand in biomedical applications, especially for drug delivery, tissue engineering, drug carriers, and scaffolding for repairing tissue, and the growing adoption of sustainable and bio-based materials driving the growth of the market. According to the National Center for Biotechnology Information (NCBI), in August 2022, the global polymer market was valued at $522.7 billion in 2017, and a 4.0% annual increase is expected over 2019–2025.
Automotive Brake-By-Wire (BBW) system market is anticipated to grow at a significant CAGR of 11.9% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as increased awareness of vehicle safety, expanding use of BBW systems in modern cars, component downsizing, and laws requiring the integration of advanced safety systems. Automotive BBW systems complement the region's focus on safety regulations by providing improved braking performance, stability, and control. Additionally, the demand for Automotive BBW systems is being driven by the increasing uptake of electric cars (EVs) globally. According to the International Energy Agency (IEA), electric car sales in 2023 were 3.5 million higher than in 2022, a 35.0% year-on-year increase.
Ash handling systems market is anticipated to grow at a CAGR of 4.3% during the forecast period (2024-2031). Ash handling systems are specialized setups designed to manage the removal, transport, and disposal of ash generated during the combustion of fossil fuels, such as coal, oil, or natural gas, in power plants and industrial facilities. The market growth is driven by an increase in power generation from fossil fuels, supportive government regulation and policies for ash disposal and reuse, a rising focus on sustainability and recycling by high-emission industries, and advancements in ash processing technologies.
3D laser cutting robots market is anticipated to grow at a CAGR of 12.2% during the forecast period (2024-2031). 3D laser cutting robots are advanced automated systems that utilize high-powered lasers to cut and shape materials with precise control in three dimensions. Unlike traditional 2D laser cutting, which operates on a flat surface, 3D laser cutting robots can move in three axes (X, Y, and Z). The market is projected to grow significantly owing to the increasing adoption of automated industrial robots, growing demand for high-precision cutting robots, and the expanding application of 3D laser cutting robots. Further, the market is expected to be influenced by a growing emphasis on Industry 4.0, the development of collaborative robots, and extensions in material handling capabilities.
Thermal cyclers market is anticipated to grow at a significant CAGR of 10.9% during the forecast period (2024-2031). The market growth is attributed to the increasing progress in the field of genomics research. Thermal cyclers are critical to many industries, such as pharmaceuticals, forensic science, research labs, and medical diagnostics. Their ability to quickly and accurately amplify DNA makes them indispensable for tasks such as pathogen detection, gene expression analysis, and genetic issue detection.
Lidocaine vial market is anticipated to grow at a significant CAGR of 9.1% during the forecast period (2024-2031). The market growth is attributed to the increasing demand for lidocaine injections, driven by an increasing number of dental chronic pain concerns. The global increase in surgical procedures and trauma cases is fueling the market's expansion. The development of innovative formulations and improvements in drug delivery technology are driving market growth. These developments are broadening the range of medical diseases for which lidocaine injections can be used by increasing both its safety and efficacy. According to the National Center for Biotechnology Information (NCBI), in April 2021, in the US and the UK, lidocaine was the most frequently purchased or used dental local anesthetic.
Social and emotional learning (SEL) market is anticipated to grow at a CAGR of 23.6% during the forecast period (2024-2031). The expansion of the SEL market can be attributed to various factors. These include the increasing emphasis on education, growing awareness of mental health, support from policies, validation through research, integration of technology, engagement from corporations and communities, and demand from parents. These factors contribute to the rising demand for SEL programs, that aim to develop social-emotional skills for academic achievement and overall student well-being, leading to widespread adoption in schools. As a result, the market is fostering the holistic development of students and nurturing the essential skills needed for success.
Wireless cardiac monitoring systems market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). The increasing prevalence of cardiovascular diseases, advancements in technology, the adoption of remote patient monitoring, and a shift towards telemedicine are the major factors driving the global wireless cardiac monitoring systems. Additionally, government initiatives, the integration of wearable health technologies, and the expansion of home healthcare services have contributed to the rising demand for wireless monitoring systems for managing cardiac conditions remotely.
Mobile satellite services market is anticipated to grow at a CAGR of 6.9% during the forecast period (2024-2031). The global connectivity demand is fueled by remote areas' need for reliable communication, universal service obligations, and IoT and M2M applications. Satellite services provide essential connectivity, real-time monitoring, and disaster recovery. Technological advancements such as high-throughput satellites and low-earth orbit satellites enhance service quality. Regulatory support, strategic partnerships, and private sector investment accelerate market growth.
Fertility tourism market is anticipated to grow at a CAGR of 12.6% during the forecast period (2024-2031). The global fertility tourism market is expanding owing to several factors, including cost efficiency, advanced medical technology, favorable regulatory environments, cultural compatibility, and accessibility. Patients from around the world are choosing countries such as India, Thailand, and Spain for affordable fertility treatments, while others seek well-established clinics with advanced technologies. Shorter waiting times and increased accessibility to clinics and specialists are highly valued by patients seeking timely treatment, and considerations for privacy and confidentiality are also considered.
Automotive testing, inspection, and certification (TIC) market is anticipated to grow at a CAGR of 4.6% during the forecast period (2024-2031). Automotive TIC comprises a three-stage process of testing, inspecting, and certifying automobiles as per regulatory requirements, safety protocols, and quality standards. The growth of the market is driven by the increasing number of automobiles and stringent regulatory regulations for road safety. The advancements in automotive testing technology, the rise in alternative automotive such as electric vehicles (EVs) and hybrid vehicles (HEVs), and growing concerns for manufacturers on vehicle re-call and aftermarket servicing are further aiding the global market growth.
Antimicrobial additive market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031). Antimicrobial additives are substances incorporated into products to prevent the spread of microorganisms such as bacteria, fungi, or any other harmful microorganisms. The market growth is driven by increasing consumer awareness of hygienic products and increasing demand for antimicrobial additives in the healthcare and food and beverage industries. The imposition of stringent regulations for maintaining product safety, and the rising prevalence of hospital-acquired infections are further aiding the global market growth.
5G fixed wireless access market is anticipated to grow at a CAGR of 39.3% during the forecast period (2024-2031). The growth of the 5G Fixed Wireless Access (FWA) market is attributed to various factors, including technological advancements, the increasing need for high-speed connectivity, and cost-effective deployment options. This market segment is particularly developing in densely populated areas, where it provides reliable connectivity and supports the integration of IoT devices and smart cities. The widespread adoption of 5G technology globally is evidence of the strong demand for advanced wireless services.
Inertial navigation systems market is anticipated to grow at a significant CAGR of 14.2% during the forecast period (2024-2031). The market growth is attributed to the growing deployment of unmanned marine vehicles and advancements in sensor design and data processing algorithms. The ongoing technological evolution to enhance the efficiency of products and services is also contributing to the global inertial navigation system market.
Automotive engineering services market is anticipated to grow at a significant CAGR of 13.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing interest in electric vehicles, increased emphasis on R&D in the automotive industry, and strict government laws designed to reduce vehicle emissions. According to the Alliance for Automotive Innovation (AAI), in November 2022, the combined automotive ecosystem drives more than $1.0 trillion into the US economy each year – 4.9% of GDP. More than $220.0 billion in federal and state revenue is generated annually by the manufacturing, sale, and maintenance of automobiles in the US.
Smart transformer market is anticipated to grow at a CAGR of 11.5% during the forecast period (2024-2031). Smart transformers are traditional transformers incorporated with sensing, monitoring, and control features empowering them to operate more effectively and independently. The market growth is expected to be driven by the increasing adoption & deployment of alternative energy network deployment. The integration of smart transformers in smart grids, growing investment in grid modernization, decentralizing of distribution systems, and advancement in relative technology are other contributors to the global market growth.
Smart grid analytics market is anticipated to grow at a significant CAGR of 13.4% during the forecast period (2024-2031). The market growth is attributed to the growing demand for innovative analytics programs to improve smart grid systems' energy distribution. The increasing application of data analytics and machine learning to smart grid analytics aims to increase customer satisfaction with decreased downtime and optimize grid efficiency. Additionally, the increased demand for renewable energy sources, a growing acceptance of smart grid technologies, and government attempts to update the electrical infrastructure are other contributors to the global market growth.
Pipeline transportation market is anticipated to grow at a CAGR of 6.2% during the forecast period (2024-2031). Pipeline transportation is the core of the global supply of oil, natural gas, and other commodities between nations that comprise a complex network of pipelines and supportive equipment. The market growth is expected to be driven by increasing demand for energy, and the expansion of oil and gas exploration activities. The development of natural gas infrastructure, rising investment in pipeline projects, and advancements in pipeline transportation technology solutions are other contributors to the global market growth.
Optical imaging systems market is anticipated to grow at a CAGR of 11.4% during the forecast period (2024-2031). Optical imaging systems have become increasingly popular with advancements in imaging techniques such as optical coherence tomography (OCT), photoacoustic imaging, and near-infrared spectroscopy. These systems play an essential role in diagnosing and monitoring eye and cardiovascular diseases, as well as facilitating early cancer detection in the oncology field. The increased funding for R&D of non-invasive diagnostic procedures is a key factor driving the global industry growth.
LED driver market is anticipated to grow at a significant CAGR of 14.9% during the forecast period (2024-2031). The market growth is attributed to the growing advancement in LED driver development with integration features such as dimming and control, wireless communication, power density, and reducing energy consumption. The increasing demand for better thermal management in high-power LED drivers is further driving the growth of the LED driver market.
Nitrogen, phosphorus, and potassium (NPK) fertilizers market is anticipated to grow at a CAGR of 4.3% during the forecast period (2024-2031). The growing population globally has increased the demand for food and agricultural productivity. This increased demand for food productivity has been driving the global NPK fertilizer market. Government subsidies and support to promote NPK fertilizer use and economic factors and trade liberalization that facilitate international trade are also making significant contributions to global market growth.
Artificial intelligence (AI) voice cloning market is anticipated to grow at a CAGR of 26.1% during the forecast period (2024-2031). The AI voice cloning market is driven by advancements in machine learning and deep learning algorithms, the increasing demand for virtual assistants and chatbots, the rise of voice-enabled devices, and the need for personalized customer experiences. Businesses are leveraging AI-powered voice cloning to create engaging virtual assistants, while the entertainment and gaming industries are embracing AI voice cloning to enhance storytelling and user experience. However, the growing adoption of voice cloning requires strict adherence to regulations and ethical standards, as compliance with these standards is essential for the market's growth.
AI in asset management market is anticipated to grow at a CAGR of 38.1% during the forecast period (2024-2031). AI in asset management is gaining popularity owing to its ability to process large amounts of data, predict market trends, optimize portfolios, and provide personalized investment solutions. AI aids in portfolio optimization, risk management, compliance monitoring, and reporting, ensuring cost efficiency and scalability.
Used cooking oil market is anticipated to grow at a CAGR of 3.5% during the forecast period (2024–2021). Used cooking oil is the oil collected from households and commercial restaurants post-usage in cooking or frying food. The market growth is attributed to the growing demand for biodiesel, the expansion of the food service industry, and the growth of the animal feed industry among others. Further, the market is expected to be influenced by government initiatives and incentive programs, an increasing number of collection programs, and the expansion of the circular economy.
Enterprise artificial intelligence (AI) market is anticipated to grow at a CAGR of 27.6% during the forecast period (2024-2031). The global enterprise AI market is attributed to advancements in AI technology, the increasing availability of data, and the demand for improved business efficiency and competitiveness. Enterprises are adopting AI owing to advancements in machine learning, deep learning, natural language processing, big data analytics, and IoT integration. AI-powered automation solutions help streamline tasks, reduce errors, and provide personalized offerings. Additionally, AI offers cost savings, scalability, and the ability to differentiate in the market through innovation. Supportive regulatory frameworks and ethical guidelines are also driving the adoption of AI, fostering an environment that encourages innovation.
Cold chain equipment market is anticipated to grow at a CAGR of 18.5% during the forecast period (2024-2031). The cold chain equipment includes refrigerators, vaccine carriers, insulated vans, stabilizers, and real-time temperature monitoring devices among others. The market's growth is driven by the increasing adoption of cold chain infrastructure, and growing demand from the pharmaceutical and food and beverage industries. The growing industrialization, changes in consumer preferences, and government support are the major promoters of the global market. Further, the market is expected to be positively influenced by technological advancements such as IoT-enabled sensors, RFID tracking, and real-time monitoring.
Travel insurance market is anticipated to grow at a CAGR of 15.4% during the forecast period (2024-2031). The travel insurance market is expanding owing to factors like increasing global tourism. The COVID-19 pandemic has increased demand for travel insurance. Technological advancements and product innovation have made it easier for consumers to compare and purchase policies. Demographic changes and strategic partnerships among providers, agencies, and airlines also contribute to market growth.
Sarcoma drug market is anticipated to grow at a CAGR of 8.3% during the forecast period (2024-2031). Sarcomas are rare cancers that develop in the bones and soft tissues, including fat, muscles, blood vessels, nerves, deep skin tissues, and fibrous tissues. According to the National Cancer Institute, about 12,000 cases of soft tissue sarcomas and 3,000 cases of bone sarcomas are diagnosed annually in the US. The high incidence and prevalence of sarcomas has driven the demand for its treatment options thereby driving the global sarcoma drugs market. However, the high cost of these drugs may restrain the market growth.
Polyolefin elastomers market is anticipated to grow at a CAGR of 7.7% during the forecast period (2024-2031). The global polyolefin elastomers (POE) market is expected to grow owing to the demand for sustainable, high-performance materials in various industries. POEs are used in consumer goods, electronics, and healthcare owing to their flexibility, electrical properties, and biocompatibility.
Pediatric telehealth market is anticipated to grow at a CAGR of 26.6% during the forecast period (2024-2031). Pediatric telehealth leverages telecommunication and digital health technologies to deliver healthcare services tailored to children. It encompasses virtual consultations, remote monitoring, tele-diagnosis, and specialized telehealth services. Ongoing technological advancements, regulatory support, and evolving consumer preferences for convenient, integrated, and equitable healthcare for their babies are major factors driving the global market growth.
Packaging adhesives market is anticipated to grow at a CAGR of 5.5% during the forecast period (2024-2031). The rise of e-commerce has increased the demand for packaging adhesives, as consumers prefer secure, durable, and efficient solutions. Sustainability trends and technological advancements are major promoters of market growth, with water-based adhesives becoming more popular.
Mobile artificial intelligence (AI) market is anticipated to grow at a CAGR of 26.9% during the forecast period (2024-2031). AI technology, including machine learning and deep learning, has revolutionized mobile applications. Edge AI reduces latency and privacy, while enhanced hardware enhances performance. Personalization and biometric authentication enhance security. 5G technology enables faster connectivity and IoT integration. AI-powered applications include health tracking, photography, and gaming. Collaborations drive innovation and market growth.
Medical supply delivery service market is anticipated to grow at a CAGR of 9.4% during the forecast period (2024-2031). The medical supply delivery service market is influenced by various factors, including the growing geriatric population, technological advancements, and e-commerce growth. Technological advancements, such as real-time tracking and automated logistics systems, improve efficiency and have made a significant contribution to global market growth. Additionally, e-commerce and digital health platforms have revolutionized the delivery of medical supplies, with online pharmacies and telemedicine services driving the need for prompt delivery.
Lyme disease treatment market is anticipated to grow at a CAGR of 8.4% during the forecast period (2024-2031). Climate change, expanding tick habitats, and increased outdoor recreational activities spread the Lyme disease. The increasing incidence of Lyme disease, advancements in treatment technologies, and favorable medical insurance policies are major factors driving the global Lyme disease treatment market. The ongoing clinical trials to develop an effective drug for Lyme disease treatment offer a huge opportunity for market development.
Locomotive market is anticipated to grow at a CAGR of 8.2% during the forecast period (2024-2031). The market growth is driven by the rising demand for locomotives in developing regions due to growing investments in strengthening rail networks and infrastructure. Advancement in locomotive technology and the growing urbanization globally are other contributors to the global market growth. Additionally, the approach of shifting road traffic to the local rail network can be beneficial for market development.
Insect protein market is anticipated to grow at a CAGR of 27.7% during the forecast period (2024-2031). The global insect protein market is experiencing growth owing to various factors such as sustainability concerns, and the high nutritional value of insect-based products. Insect farming is a viable and sustainable alternative to traditional livestock farming. Furthermore, advancements in farming techniques, processing technologies, and product development have contributed to the efficiency and cost-effectiveness of insect protein production. Additionally, consumer acceptance, education, and regulatory support have driven the use of insect protein in animal feed. Increased investment in production and research initiatives further contribute to the expansion of the market.
Handicrafts market is anticipated to grow at a CAGR of 4.1% during the forecast period (2024–2031). The market growth is driven by the rising demand for handcrafted home decor and textile products, increasing support from state-run organizations, expansion towards e-commerce distribution channels, and a shift in consumer preference towards sustainable products. The growth of the tourism industry, increasing social media influence, and shifts in home decoration and renovation trends are other promoters of global market growth.
Grain processing equipment market is anticipated to grow at a CAGR of 7.6% during the forecast period (2024-2031). The grain processing equipment market is influenced by various factors, including the increasing demand for processed and packaged food, advancements in technology, and growth in the food and beverage industry. The global population rise and urbanization have resulted in a rise in the need for efficient grain processing equipment to meet the demand for processed and packaged food. Technological advancements, such as automation, IoT integration, and AI, have contributed to enhanced efficiency and productivity.
Game streaming market is anticipated to grow at a CAGR of 10.8% during the forecast period (2024-2031). Game streaming market is driven by technological advancements such as the deployment of 5G networks and cloud computing that offer convenience, cost efficiency, and diverse game libraries. The growing gaming population globally is further contributing to the global market demand.
Explainable AI market is anticipated to grow at a CAGR of 20.9% during the forecast period (2024-2031). The Explainable AI (XAI) market is experiencing substantial growth driven by the regulatory requirements for transparency in AI decision-making, the widespread adoption of AI in different industries, technological advancements, and increasing public awareness. Ethical AI guidelines emphasize fairness, accountability, and transparency, which necessitate the use of explainable AI techniques.
Energy curable inks market is anticipated to grow at a CAGR of 5.5% during the forecast period (2024-2031). The growing demand for sustainable printing ink, technological advancements in inkjet printing and UV curing systems, and regulatory compliance requirements are the key factors driving the global energy curable ink market. Energy curable inks are considered a sustainable alternative to traditional solvent-based inks owing to the lower emission of volatile organic compounds and energy-efficient curing process.
Electronic toll collection (ETC) market is anticipated to grow at a CAGR of 6.6% during the forecast period (2024-2031). The global ETC market is expanding owing to technological advancements, government initiatives, and urban transportation needs. Electronic toll collection system (ETC) systems use radio frequency identification (RFID), global positioning system (GPS), automatic number plate recognition (ANPR), and dedicated short-range communications (DSRC) to automate toll collection and improve traffic flow.
Digital circular economy market is anticipated to grow at a CAGR of 24.1% during the forecast period (2024-2031). The global digital circular economy market is expanding owing to rising environmental awareness, rising adoption of digital technologies, favorable government regulations, and consumer demand for eco-friendly products and services.
5G system integration market is anticipated to grow at a CAGR of 28.9% during the forecast period (2024-2031). The increasing deployment of 5G infrastructure globally is fueling the need for system integration services. Various emerging technologies, such as IoT, AI, edge computing, and virtualization are facilitating new applications across different sectors. The digitization efforts in industries are utilizing 5G technology to enhance operational efficiency and customer satisfaction. Additionally, ensuring compliance with regulations and maintaining security is crucial, necessitating the seamless integration of these technologies.
Wearable payment device market is anticipated to grow at a CAGR of 16.5% during the forecast period (2024–2031). Wearable payment devices include a range of electronic products such as watches, wristbands, and rings with contactless payments feature. The market growth is driven by rising demand for smartwatches, growth in the global digital payment market, increasing adoption of wrist wearables, and a changing trend in digital payments. Further, the market is expected to be positively influenced by novel product launches in wearable technology by financial institutions, the growth of the smart payment ring market, and the growing adoption of NFC (near-field communication) technology.
Temperature sensor market is anticipated to grow at a CAGR of 5.8% during the forecast period (2024-2031). The global temperature sensor market is driven by the rising demand for temperature sensors in end-user industries such as healthcare, oil & gas, and food & beverage among others. Further, technological advancements in temperature sensing, such as multi-parameter temperature sensing, IoT-enabled sensors, and integration in consumer electronics, have increased the application scope for the product.
Space semiconductor market is anticipated to grow at a CAGR of 5.6% during the forecast period (2024-2031). The market growth is driven by the increasing investment in space semiconductor development, the growing commercial satellite market, advancement in semiconductor technology, and expansion of space exploration activities.
Solar farms market is anticipated to grow at a CAGR of 14.5% during the forecast period (2024-2031). The market growth is driven by the rising investment in solar energy production, increasing government efforts for energy diversification. The declining cost of solar electricity generation infrastructure by substantial government support through policies, subsidies, and schemes, and global emission reduction targets are other contributors to the global market growth.
Ship repair and maintenance services market is anticipated to grow at a CAGR of 5.3% during the forecast period (2024-2031). The global market is driven by the rising investment in building shipyard infrastructure, aging marine fleets, increasing maritime trade, and government initiatives to tighten ship maintenance and repair norms for environmental sustainability. Further, the market is expected to be positively influenced by the integration of robotics and IoT devices for repair & maintenance works. The growing trend for predictive maintenance, and the development of specialized facilities for several vessel types such as container ships, oil tankers, and cruise liners is further aiding the global market growth.
Power transformer market is anticipated to grow at a CAGR of 7.4% during the forecast period (2024-2031). Power transformers are electrical instruments used in transmitting electrical power from one circuit to another without changing the frequency. They operate by the principle of electromagnetic induction. They are used in transmitting electrical power between generators and distribution primary circuits. The increasing power demand globally is a key factor driving the global power transformer market.
Frozen chicken market is anticipated to grow at a CAGR of 6.0% during the forecast period (2024-2031). The market growth is attributed to the growing advancement in cold chain infrastructure & logistics with the growing popularity of frozen food across the globe. The increasing rate of urbanization, growing availability of organic frozen chicken, and low-processed frozen chicken is also contributing to the regional market growth. Further, the market is expected to be negatively influenced by the consumer shift towards a vegan diet.
Drone simulator market is anticipated to grow at a CAGR of 13.5% during the forecast period (2024-2031). The market growth is driven by the rising demand for drones in the defense sector, increasing investment by governments in drone R&D, increasing applications for drones in the commercial sector, and the affordability of drone simulation and testing software. Further, the market trend is expected to move towards integration of augmented reality (AR) and virtual reality (VR) technology in drone simulation, demand for trained pilots, adoption of 3D simulation, and regulatory compliance for the drone market.
Contract textile market is anticipated to grow at a CAGR of 4.8% during the forecast period (2024-2031). Contract textile refers to fabrics that are used in commercial environments, such as offices, hospitals, restaurants, and other institutions. These textiles are typically subject to rigorous performance standards to ensure durability, safety, and suitability for high-traffic areas. The growing demand for contract textile among end-user industries is a key factor driving the global contract textile market.
Cell processing instrument market is anticipated to grow at a CAGR of 6.4% during the forecast period (2024-2031). Cell processing instrument is a specialized tool used to manipulate and prepare cells for various purposes, including cell-based therapies, regenerative medicine, and vaccine development. Its importance lies in utilizing healthy cells to fight diseases or repair damaged tissues.
Cargo handling equipment market is anticipated to grow at a CAGR of 4.5% during the forecast period (2024-2031). Cargo handling equipment market comprises of a variety of handling equipment including industrial trucks, cranes, stackers, pallets, among others, which streamline logistical and transport processes such as unloading cargo, transporting cargo, warehousing, picking, and sorting. The market growth is driven by the rising demand of cargo handling equipment from marine segment, increase in seaborne trade, e-commerce boom, and advancement in cargo equipment through integration of IoT devices, automation & robotics, and AI (artificial intelligence)) & ML (machine learning) among others.
Acrylic polymer market is anticipated to grow at a CAGR of 6.1% during the forecast period (2024-2031). The acrylic polymer market deals with the production, distribution, and trade of acrylic polymers, synthetic materials made from acrylic acid or its derivatives. These versatile materials have various applications in industries such as paints, coatings, adhesives, textiles, building materials, paper, automotive components, medical devices, and consumer goods. The global market growth is driven by the growing adoption of eco-friendly chemicals in the paints & coating industry.
Shea Butter (Butyrospermum Parkii) market is anticipated to grow at a CAGR of 6.4% during the forecast period (2024-2031). It soothes eczema and dermatitis, forming a protective barrier against moisture loss while nourishing and repairing the skin. Thus, the benefits of shea butter is contributing significantly to the market growth. Additionally, the increasing number of beauty-conscious consumers is leading to market growth. The applications of the products in various sectors such as food processing, cosmetics, and pharmaceuticals are also driving the market growth.
Plant antifreeze market is anticipated to grow at a CAGR of 4.9% during the forecast period (2024-2031). The market growth is driven by rising industrialization, increase in disposable income, and growth and expansion of the agriculture sector & horticulture sector. Further, the rising demand for economical plant heating technology contributes to market growth. Plant antifreeze chemicals help plants withstand cold temperatures by lowering the freezing point of water in plant tissues. Compounds such as ethylene glycol and glycerin act as cryoprotectants, protecting plant cells from ice formation.
Shaojiu market is anticipated to grow at a CAGR of 5.0% during the forecast period (2024-2031). Shaojiu, also known as Baijiu, is a Chinese distilled alcoholic beverage with a rich history. It is primarily made from grains such as sorghum, rice, or maize, with variations in ingredients and production methods across regions. Shaojiu holds significant cultural importance. The market growth is driven by the expanding global market, rising disposable income, and the growth of e-commerce. Additionally, the market players are adopting various business strategies such as product portfolio diversification, innovative production techniques, and investment in branding and marketing.
Semi-skimmed fish meal market is anticipated to grow at a CAGR of 9.4% during the forecast period (2024-2031). Semi-skimmed fish meal is a protein-rich ingredient for feeding the animals, which was produced out of processing waste and fish part leftovers. It is cooked, squeezed, dried, and groundfish wastes such as heads, tails, backbones, and entrails. The market growth is driven by increasing environmental concerns, government incentives, and advancements in technology. The market growth is also supported by the increasing collaborations between government and private players and R&D efforts.
Ornamental fish market is anticipated to grow at a CAGR of 8.2% during the forecast period (2024-2031). People globally keep home aquariums, which are in a way art museums for these beautiful ornamental fish. They ensure that they create better conditions and better health for the fish by replicating their natural habitats. The fish have some global significance with the symbol of Japan being a koi fish whereas that of Thailand involves a fish with a Siamese fighting pattern. The industry has grown tremendously due to improvements in breeding methods as well as an increase in several available rare types offering people who have a special interest in the aquatic world what they desire.
Fluoroelastomer market is anticipated to grow at a considerable CAGR of 9.2% during the forecast period (2024-2031). Fluoroelastomer (FKM) is a synthetic rubber based on fluorocarbons. It has many properties that make it useful in a variety of high-performance applications. The market growth is attributed to the increasing demand for fuel-efficient vehicles, and the growing adoption of high-temperature resistance materials with significant applications in end-user industries such as automotive, aerospace, and oil & gas industries.
ESG reporting software market is anticipated to grow at a significant CAGR of 10.7% during the forecast period (2024-2031). The market growth is attributed to the increasing integration of loT sensors and real-time data feeds, that allow enterprises to monitor their ESG performance continuously. Additionally, companies are using ESG reporting tools to show their commitment to environmental stewardship in response to the growing sustainable investing in the private sector driving the growth of the global ESG reporting software market.
Digital stethoscope market is anticipated to grow at a CAGR of 5.7% during the forecast period (2024-2031). The growing prevalence of telemedicine, point-of-care diagnostics, the aging population, preventative healthcare, investments in healthcare infrastructure, advancing technology, and improvements in artificial intelligence and machine learning are all driving factors in the global market for digital stethoscopes. While telemedicine and AI-powered gadgets improve healthcare access and lower diagnostic errors, advanced digital stethoscopes improve sound quality, diagnostic capabilities, and recording.
Culinary tourism market is anticipated to grow at a CAGR of 18.5% during the forecast period (2024-2031). Culinary tourism includes a variety of food and drink experiences like guided food tours, cooking classes, farm visits, culinary festivals, and wine tourism. It allows travelers to explore local cuisine, traditions, and engage with communities and producers. Culinary tourism offers immersive ways to discover the culture and heritage of a destination through its culinary offerings, making it popular for authentic and meaningful travel experiences.
Clinical trial management services market is anticipated to grow at a CAGR of 7.8% during the forecast period (2024-2031). The clinical trial management services (CTMS) market is fueled by the complexity of clinical trials, research growth, globalization, technological advancements, data quality, patient-centricity, and cost-effectiveness. Cloud-based solutions, artificial intelligence, machine learning, and mobile applications enhance efficiency, while cost-effective solutions focus on patient engagement and retention.
Buckwheat flour market is anticipated to grow at a CAGR of 3.6% during the forecast period (2024-2031). Buckwheat, primarily grown in Asia, is popular for its adaptability to short seasons and acidic soils. Its flour, known for being gluten-free, is rich in flavonoid rutin, which strengthens blood vessels. The increasing demand for buckwheat flour is driven by its health benefits and versatility as a food ingredient.
Body contouring devices market is anticipated to grow at a CAGR of 14.3% during the forecast period (2024-2031). The body contouring devices market is influenced by factors such as rising obesity rates, technological advancements, aesthetic procedures, minimally invasive treatments, aging population, cultural influences, and regulatory standards. Technological advancements and aesthetic procedures cater to this demand, while cultural attitudes and regulatory compliance ensure the safety and efficacy of these treatments.
Frozen food packaging market is anticipated to grow at a CAGR of 5.1% during the forecast period (2024-2031). Frozen food packaging refers to the materials and methods used to encase and protect food stored at freezing temperatures. The primary purpose of this packaging is to maintain the safety, nutritional value, and quality of frozen foods during storage and transportation. The growing demand for frozen foods is a key factor driving global market growth.
Brain monitoring market is anticipated to grow at a CAGR of 7.8% during the forecast period (2024-2031). The brain monitoring market is experiencing significant growth, driven by factors such as the rising prevalence of neurological disorders, advancements in brain imaging technologies, and an aging population. Additionally, increasing awareness and screening programs, along with the preference for non-invasive diagnostic techniques, contribute to the market's expansion. The integration of AI and machine learning algorithms in brain monitoring systems improves diagnostic accuracy and enables real-time decision-making.