Grand View Research

Breast Imaging Industry

The global breast imaging market size was valued at USD 4.7 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. Factors such as the rising prevalence of breast cancer, technological breakthroughs in the domain of breast imaging, and investment from several organizations in breast cancer screening programs drive the market. According to the World Cancer Research Fund (WCRF) by 2030, the number of cases of breast cancer is likely to reach about 2.1 million globally. Also, as per the World Health Organization report on breast cancer released in March 2021, over 2.3 million women globally were diagnosed with the disease in 2020, with approximately 685,000 dying as a result of its severity. Breast imaging is the primary method of diagnosis for a vast majority of breast cancer patients globally. This aspect is expected to contribute to the growth of the market during the forecast period.

In recent years, the rising frequency of breast cancer and its associated mortality at a young age, as well as its delayed presentation, has prompted women to seek medical attention as immediately. Many breast cancer cases in developing countries are discovered at a late stage due to a lack of information about early warning symptoms and screening methods.

Gather more insights about the market drivers, restrains and growth of the Global Breast Imaging market

Breast Imaging Market Segments:

Technology Insights

The Ionizing technology segment held the largest market share of around 63.2% in 2022 and is anticipated to witness the fastest growth over the forecast period. The segment will expand in the upcoming years as a result of the introduction of new ionizing technology-based breast imaging technologies. Additionally, advancements in currently available ionization-based technologies are likely to receive significant funding, contributing to the market’s expansion over the forecast period. Moreover, the majority of market participants’ ongoing commitment to raising the number of technology expenditures made in order to offer superior products in the market.

End-use Insights

Hospitals dominated the end-use segment in 2022 with a share of around 42.2% in terms of revenue. The presence of advanced and well-equipped breast imaging facilities within a hospital positively affects various factors, such as duration of hospital stay, total healthcare cost, quality of care, and availability of emergency care. For instance, in September 2019, Parkside Hospital in Wimbledon installed a 3Dmammography system from Hologic that enables high-resolution breast tomosynthesis. As investments in healthcare structures have increased over the world, this trend will aid in market expansion in the next years. Investing has enabled the procurement of improved infrastructure and diagnostic equipment. It has also been effective in providing good health coverage in all hospital-based healthcare services. These are the key factors that will contribute to hospital segment growth in the next years.

Regional Insights

North America dominated the breast imaging market in 2022 with a share of around 37.8% in terms of revenue and is expected to exhibit a considerable growth rate during the forecast period. The rising number of breast cancer cases in this region is adding to the growth of the Breast Imaging market. As per the American Society of Clinical Oncology in its 2022 article on Breast Cancer Statistics, a projected 287,850 women in the U.S. will be diagnosed with invasive breast cancer, and 51,400 women will be diagnosed with non-invasive (in situ) breast cancer in 2022. The large prevalence of breast cancer in the U.S. is thus likely to drive the growth of the breast imaging market in the region.

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• The global breast cancer diagnostics market size was valued at USD 4.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
• The global mammography market size was valued at USD 2.35 billion in 2023 and is projected to grow at a CAGR of 8.87% from 2024 to 2030.

Key Companies & Market Share Insights

The breast imaging market is competitive and consists of several major players. In terms of market share, few major players currently dominate the market. However, with technological advancements and product modernizations, mid-size to smaller firms are increasing their market presence by launching new products and reducing the side effects of the procedures. The players in the market are striving to maintain their potential market share. Growing competition by means of technological improvements and new product developments leading to a reduction in the cost of the product is projected to boost the market.

Recent Developments

• In May 2022, QUSTom (Quantitative Ultrasound Stochastic Tomography), a new European project, was coordinated by the Barcelona Supercomputing Center (BSC). QUSTom aims to develop a new medical imaging modality based on ultrasound and supercomputing that will supplement or even replace current X-ray-based techniques such as mammograms.
• In March 2022, researchers at the University of Notre Dame designed a novel imaging device, NearWave Imager, for non-invasive breast cancer detection.
• In June 2022, GE Healthcare join forces with the National Cancer Centre Singapore (NCCS). This partnership seeks to stimulate the possibility of more personalized treatment options for cancer and provide the opportunity to examine clinically vital information during the patient journey by leveraging artificial intelligence and text processing.
• In November 2020, Densitas, Inc. partnered with Mammography Educators, LLC. The development seeks to build an artificial intelligence-powered telehealth technician training platform that will aid mammography clinics to maintain business continuity.

Some of the prominent players in the breast imaging market are:

• GE Healthcare,
• Hologic, Inc.,
• Philips Healthcare
• Gamma Medica, Inc.
• Siemens Healthcare
• Fujifilm Holdings Corp.
• SonoCine, Inc.,
• Toshiba Corporation,
• Dilon Technologies, Inc.,
• Aurora Imaging Technology, Inc.

Segments Covered in the Report

Grand View Research has segmented the global breast imaging market based on technology, end-use, and region:

Breast Imaging Technology Outlook (Revenue, USD Million; 2018 – 2030)

• Ionizing
  • Full-field Digital Mammography
  • Analog Mammography
  • Positron Emission Mammography
  • Electric Impedance Tomography
  • Cone-Beam Computed Tomography
  • Positron Emission Tomography & Computed Tomography
  • 3D Breast Tomosynthesis
  • MBI/BSGI
• Non-ionizing
  • MRI
  • Thermography
  • Ultrasound
  • Optical Imaging
  • Automated Whole-breast Ultrasound

Breast Imaging End-use Outlook (Revenue, USD Million; 2018 – 2030)

• Hospitals
• Breast Care Centers
• Diagnostic Imaging Centers

Breast Imaging Regional Outlook (Revenue, USD Million; 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Thailand
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE

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Cultured Meat Industry

The global cultured meat market size was valued at USD 246.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 51.6% from 2023 to 2030. The growing technological advancements in the alternative proteins space are driving a shift toward sustainable food systems globally. Meat substitutes and alternative proteins are gaining global attention with the growing need to overcome meat shortages against the growing population and environmental impact. The awareness of environmental sustainability and rising focus on securing meat supply are among the factors responsible for the growth of the cultured meat industry globally.

The outbreak of COVID-19 and the resultant lockdowns disrupted supply channels globally. The widespread disruption in supply chains also influenced cultivated meat production. The procurement of equipment was delayed due to trade barriers. Bioreactors are important processing equipment for the cultivated meat industry, providing an appropriate environment for cultivating animal cells.

Gather more insights about the market drivers, restrains and growth of the Global Cultured Meat market

Cultured Meat Market Segments:

Source Insights

In terms of revenue, poultry dominated the market with a share of over 39% in 2022. Chicken consumption has increased in North America during the past 50 years. It is the most consumed meat in the U.S., with over 8 billion chickens slaughtered for food each year. Globally, more than 50 billion chickens are raised every year. The rise in the number of startups and market entrants investing in cellular agriculture technology to develop poultry-cultivated products is favoring the growth of the poultry segment.

End-use Insights

In terms of revenue, burgers dominated the market with a share of around 41% in 2022. The cultured burger segment is expected to gain traction owing to growing consumer preference for sustainable and ethical meat alternatives. Cultured meat burgers have the potential to reduce the environmental impact of the meat industry.Several startups and key players are experimenting with cultivated meat, which is also expected to support the growth of the segment. In January 2020, the maker of the world’s first cultured meat hamburger, Mosa Meat, announced a partnership with animal nutrition company Nutreco, which will provide Mosa Meat with a nutrient-filled liquid to produce meat.

Regional Insights

North America dominated the cultured meat market with a share of over 35% in 2022. Increased demand for sustainable meat and poultry products, coupled with the presence of key players in the region, is supporting the growth. Several U.S.-based companies such as Fork & Goode and BlueNalu are gradually investing in cell-agriculture technologies to produce cultivated meats in the region.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

• The global A2 milk market size was valued at USD 4.0 billion in 2024 and is projected to grow at a CAGR of 18.5% from 2025 to 2030. A key driver of this growth is the increasing preference for nutritious food worldwide.
• The global fish sauce market size was valued at USD 2.07 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. Fish sauce contains essential nutrients such as omega-3 fatty acids, vitamins A and D, and minerals such as iodine.

Key Companies & Market Share Insights

The market is characterized by the presence of various startups and emerging companies. Companies have been implementing various strategies such as mergers & acquisitions, expansion of production facilities, investing in research and development, and new product launches to gain a competitive advantage.

• Avant Meats Company Limited announced its series A funding of around USD 10.8 million by S2G Ventures, a direct investment arm of an impact platform company, Builders Vision. This helped the company commercialize marine protein and cultivated fish, scale up production, and sell high-quality products to consumers
• Mosa Meat and Nutreco announced the European REACT-EU recovery assistance program awards their joint ‘Feed for Meat’ project with a grant of almost USD 2.17 million to advance cellular agriculture and bring cultivated beef to the EU market. The program will fund R&D to specifically address the ‘basa’ or base media in which the beef cells grow.

Some prominent players in the global cultured meat market include: –

• Aleph Farms
• Avant Meats Company Limited
• Biftek INC
• Mosa Meat
• BlueNalu, Inc.
• BioFood Systems Ltd
• WildType
• New Age Eats
• Shiok Meats Pte Ltd
• SuperMeat
• Meatable
• Finless Foods, Inc
• Fork & Good, Inc.
• Future Meat Technologies Ltd
• UPSIDE Foods
• Mission Barns

Segments Covered in the Report

Grand View Research has segmented the global cultured meat market based on source, end-use, and region:

Cultured Meat Source Outlook (Revenue, USD Million, 2017 – 2030)

• Poultry
• Beef
• Seafood
• Pork
• Duck

Cultured Meat End-use Outlook (Revenue, USD Million, 2017 – 2030)

• Nuggets
• Burgers
• Meatballs
• Sausages
• Hot Dogs

Cultured Meat Regional Outlook (Revenue, USD Million, 2017 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia

Order a free sample PDF of the Cultured Meat Market Intelligence Study, published by Grand View Research.

Clinical Alarm Management Industry

The global clinical alarm management market size was estimated at USD 2.13 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2030. Growing cases of alarm fatigue and the need for cost-containment are the factors expected to boost market growth. Furthermore, prolonged hospital stays coupled with technological advancements in this sector and rising prevalence of various chronic diseases are most likely to fuel market growth. Increasing cases of alarm fatigue are expected to boost the demand for alarm management solutions as well as services. Alarm fatigue is a significant concern in healthcare, leading to excessive non-actionable alarms that can compromise patient safety.

The Making Health Care Safer (MHCS) reports from the Agency for Healthcare Research and Quality (AHRQ) emphasize implementing safety culture elements, risk assessments, and training to reduce alarm burden and improve overall patient care. Owing to false alarms, the true alarms that are supposed to alert clinicians of the real problems with patients are ignored sometimes. This drives the demand for such solutions. Various benefits of alarm management solutions are also likely to increase their demand, which will support market growth.

Gather more insights about the market drivers, restrains and growth of the Global Clinical Alarm Management market

Clinical Alarm Management Market Segments:

Market Concentration & Characteristics

The market growth stage is high, and is operating at an accelerating pace. The market is characterized by a high degree of innovation. The role of alarms in hospital settings continues to evolve in innovative ways. For instance, alarm management solutions offered by Philips include continuous patient monitoring systems, Patient Information Center iX (PIC iX [Central monitoring system]), and the CareEvent system.

Component Insights

The solution segment dominated the market and accounted for the largest revenue share of 54.0% in 2023. This is owing to the rising adoption of connected care technologies in healthcare, initiatives by key companies, and the need to reduce alarm fatigue. The need to reduce adverse patient events & false/nuisance alarms and comply with regulatory mandates is anticipated to drive market growth.

Product Insights

The nurse call systems segment dominated the market and accounted for the largest revenue share in 2023. The factors attributed to this large share include product developments driven by wireless technology & automation, the need to improve clinical workflow & reduce operating costs for the healthcare facility while making optimum use of available resources. Also, growing funding for wireless technologies and IP-based nurse call systems is anticipated to boost market growth during the projected period.

End-use Insights

The hospitals and clinics segment dominated the market and accounted for the largest revenue share in 2023 due to the growing patient flow, rising emergency cases, and incorporation of sophisticated solutions. Moreover, the home care settings segment is estimated to grow due to the growing need of improvement in patient safety settings through effective patient monitoring and ensuring a timely response.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 43.7% in 2023, which is attributed to the growing significance of providing quality healthcare services. Increasing cases of alarm fatigue and favorable regulatory scenarios in the U.S. and Canada are further contributing to market growth in this region. Moreover, the presence of major market players in the region, such as GE Healthcare, Ascom, and Koninklijke Philips N.V., is expected to fuel market growth. Canada has a large number of inpatient hospitalizations due to various health problems. According to CIHI, in February 2022, acute inpatient hospitalizations in Canada were over 2.7 million between 2020 and 2021. Most common admissions were for cesarean section surgeries, followed by hip and knee replacements.

Browse through Grand View Research’s Healthcare IT Industry Research Reports.

• The global nurse call systems market size was valued at USD 1.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.11% from 2023 to 2030.
• The global healthcare predictive analytics market size was estimated at USD 14.58 billion in 2023 and is projected to grow at a CAGR of 24.0% from 2024 to 2030.

Clinical Alarm Management Company Insights

Some of the key players operating in the market include Koninklijke Philips N.V., General Electric Company (GE Healthcare), Ascom, and Spok, Inc.

• Koninklijke Philips N.V. (Royal Philips) is the parent company of Philips Group, which handles all its healthcare technology businesses. Being the healthcare arm of its parent company, Philips Group is divided into four reportable business segments: Diagnosis & Treatment, Connected Care, Personal Health, and Other. The company is a global leader in improving people’s health through its wide portfolio of diagnostic, treatment, and homecare products & services
• GE Healthcare, a division of General Electric Company, is a global publicly operated company involved in respiratory care systems and ultrasound machines. The company sells and manufactures radiopharmaceuticals and diagnostic imaging agents for imaging modalities used in medical imaging procedures
• Vocera Communications, Capsule Technologies, Inc., Medtronic, and West-Com. are some of the emerging market participants in the artificial intelligence market.
• Vocera Communications is a publicly operated multinational company involved in telecommunication. It offers the leading platform for clinical communication and workflow. It simplifies and improves the lives of healthcare professionals & patients, enabling hospitals to enhance their quality of care & operational efficiency
• Capsule Technologies, Inc. is a privately held company involved in medical devices. The company is a global provider of medical device integration solutions for hospitals and healthcare organizations. It specializes in medical device integration, clinical surveillance, and patient monitoring

Key Clinical Alarm Management Companies:

The following are the leading companies in the clinical alarm management market market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these clinical alarm management companies are analyzed to map the supply network.

• Koninklijke Philips N.V.
• General Electric Company (GE Healthcare)
• Ascom
• Spok, Inc.
• Masimo
• Hill-Rom Services, Inc.
• Vocera Communications
• Capsule Technologies, Inc.
• Medtronic
• West-Com

Segments Covered in the Report

Grand View Research has segmented the global clinical alarm management market report based on product, component, end-use, and region:

Clinical Alarm Management Product Outlook (Revenue, USD Million, 2018 – 2030)

• Nurse Call Systems
• Physiological Monitors
• Bed Alarms
• EMR Integration Systems
• Ventilators
• Others

Clinical Alarm Management Component Outlook (Revenue, USD Million, 2018 – 2030)

• Solutions
• Services

Clinical Alarm Management End-use Outlook (Revenue, USD Million, 2018 – 2030)

• Hospitals & Clinics
• Home Care Settings
• Ambulatory Care Centers
• Long-Term Care Facilities
• Specialty Centers

Clinical Alarm Management Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Recent Developments

• In June 2023, Niels-Stensen-Kliniken GmbH hired Ascom for a 1 million Swiss franc project to install the smart alarming system and IP-DECT infrastructure.
• In April 2023, Philips and Northwell Health partnered for a seven-year agreement to standardize patient monitoring, enhance care, and improve outcomes. The collaboration aims to establish a platform for innovative technologies, ensuring scalability and flexibility
• In March 2023, Ascom secured a frame agreement with UniHA, the French public hospital purchasing network, valued at around EUR 3 million. The collaboration aims to digitize patient monitoring, improve work conditions, and enhance care delivery

Order a free sample PDF of the Clinical Alarm Management Market Intelligence Study, published by Grand View Research.

Heat Transfer Fluids Industry

The global heat transfer fluids market size was estimated at USD 11.06 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2030. The rapid adoption of concentrated solar power globally is one of the major factors driving demand. Heat transfer fluids are industrial products derived from petroleum sources that prevent overheating and store thermal energy. The primary raw materials involved in production are crude oil, silica, and base oils. The essential characteristics that define a heat transfer fluid are low viscosity, non-corrosive nature, high thermal conductivity and diffusivity, and extreme phase transition temperatures.

Heat transfer fluids are traditionally used for the sole purpose of transferring heat to the process stream. However, the selection of the right HTF is a multi-dimensional complication wherein factors such as pumpability, thermal stability, and pressure requirements are put into consideration. Heat transfer fluids are gaining significant importance in their applications, such as extracting heat from the sun in concentrated solar panels to processing gas & oil in cold climatic conditions.

Gather more insights about the market drivers, restrains and growth of the Global Heat Transfer Fluids market

Heat Transfer Fluids Market Segments:

Market Concentration & Characteristics

The heat transfer fluids market is moderately consolidated in nature with the presence of large players like Dow Inc, Exxon Mobil Corporation, British Petroleum, Eastman Chemical Company and Royal Dutch Shell operating in the market. Market players are adopting the product differentiation strategy that insulated them from price wars.

Product Insights

Glycol-based heat transfer fluids form the fastest-growing product category as they exhibit excellent antifreeze properties; the segment is anticipated to exhibit a revenue CAGR of 4.1% over the forecast period. Bio-based glycols are increasingly gaining significance as one of the critical ingredients in heat transfer fluid formulations, as they are compatible with high and low-temperature applications.

Mineral oils are generally utilized in diverse convenient radiator heaters, which are used broadly for commercial and residential applications. These oils have a high level of resistance toward chemical oxidation and thermal cracking and are simultaneously non-toxic and non-corrosive. They provide high thermal conductivity and specific heat, which helps them efficiently transfer heat. Mineral oils are also used in multiple heat transfer mediums but have a high degradation rate when exposed to higher temperatures.

Application Insights

The oil and gas segment dominated the market with a revenue share of 22.2% in 2023. The oil & gas processing dynamics require very specific heat transfer fluids that are formulated to suit desired temperatures and compatibility. These products find application in processes such as recycling, production, refining, and transportation. Offshore platforms utilize heat transfer liquid in the aqueous phase for regenerating glycols and facility heating, which eventually removes water from the produced natural gas.

Regional Insights

Asia Pacific heat transfer fluid market is the dominant market with key macroeconomic indicators, such as high per capita income and manufacturing output, supporting market growth. The region accounted for a market share of 47.9% in 2023. The use of heating, ventilation, and air conditioning (HVAC) systems is growing tremendously in the Asia Pacific region because of the increasing population, changing climatic conditions, increasing urbanization, and demographic changes in the two economic giants, India and China. These two factors are likely to drive the growth of the Asia Pacific heat transfer fluid market.

Browse through Grand View Research’s Petrochemicals Industry Research Reports.

• The global aerospace lubricants market size was valued at USD 2.13 billion in 2023 and is projected to grow at a CAGR of 5.0% from 2024 to 2030.
• The global polymer modified bitumen market size was valued at USD 12.86 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2030.

Key Companies & Market Share Insights

Key companies are adopting several organic and inorganic growth strategies, such as capacity expansion, mergers & acquisitions, and joint ventures, to maintain and expand their market share.

• In September 2023, Valvoline invested in a European manufacturer of heat transfer fluids in order to broaden its product portfolio and cater to the consumers globally.
• In May 2023, ORLEN Południe announced the completion of the first operational year of its BioPG plant, involving the conversion of glycerol into renewable propylene glycol. BASF provided its BioPG technology for the purpose, while Air Liquide Engineering & Construction contributed with the licensing, proprietary equipment, and basic engineering services
• In February 2022, Chevron announced the agreement to acquire Renewable Energy Group which further helped the company in delivering lower carbon energy.
• In May 2023, ORLEN Południe announced the completion of the first operational year of its BioPG plant, involving the conversion of glycerol into renewable propylene glycol. BASF provided its BioPG technology for the purpose, while Air Liquide Engineering & Construction contributed with the licensing, proprietary equipment, and basic engineering services

Key Heat Transfer Fluids Companies:

• Dynalene, Inc.
• Indian Oil Corporation Ltd. (IOCL)
• KOST USA, Inc.
• Hindustan Petroleum Corporation Ltd. (HPCL)Delta Western, Inc. (DWI)
• British Petroleum (BP)
• Huntsman Corporation
• Royal Dutch Shell Plc
• Eastman Chemical Company
• Phillips 66
• Chevron Co.
• BASF SE
• Exxon Mobil
• DowDuPont Chemicals
• Dalian Richfortune Chemicals Ltd.
• GJ Chemical
• Radco Industries Inc.
• LANXESS AG
• Schultz Chemicals
• Sasol Limited
• Evermore Trading Corporation
• Tashkent Industrial Oil Corporation
• Shaeffer Manufacturing Co.
• Paras Lubricants Limited.

Segments Covered in the Report

Grand View Research has segmented the global heat transfer fluids market based on product, application, and region:

Heat Transfer Fluids Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Silicone Fluids
  • Oil & Gas
  • Chemical Industry
  • CSP
  • Food & Beverages
  • Plastics
  • Pharmaceuticals
  • HVAC
  • Others
• Aromatic Fluids
  • Oil & Gas
  • Chemical Industry
  • CSP
  • Food & Beverages
  • Plastics
  • Pharmaceuticals
  • HVAC
  • Others
• Mineral Oils
• Glycol-based Fluids
• Other (Including Molten Salts & HFPE)

Heat Transfer Fluids Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Oil & Gas
• Chemical Industry
• CSP
• Food & Beverages
• Plastics
• Pharmaceuticals
• HVAC
• Others

Heat Transfer Fluids Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Malaysia
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • Africa
  • Saudi Arabia

Order a free sample PDF of the Heat Transfer Fluids Market Intelligence Study, published by Grand View Research.

Application Delivery Controller Industry

The global application delivery controller market size was valued at USD 4.35 billion in 2024 and is expected to grow at a CAGR of 12.9% from 2025 to 2030. Application delivery controllers (ADC) manage and optimize the delivery of applications across complex environments, ensuring high availability, security, and performance. Traditionally, ADCs were utilized to balance traffic between servers, but modern solutions have evolved to include features such as application acceleration, SSL offloading, web application firewalls (WAF), and security against distributed denial-of-service (DDoS) attacks. The increasing number of cyber threats has made application security a top priority for organizations across industries.

ADCs equipped with security features like DDoS protection, web application firewalls, and intrusion prevention systems help organizations safeguard their applications from potential attacks. The growing demand for mobile applications and the impending rollout of 5G networks are further fueling the market, as ADCs can optimize performance and reduce latency for mobile users. Additionally, the rise of IoT devices and edge computing necessitates efficient traffic management, which ADCs can provide, enabling real-time data processing and analytics. Collectively, these factors position ADCs as essential components in modern IT infrastructures, driving their adoption and market growth.

Gather more insights about the market drivers, restrains and growth of the Global Application Delivery Controller market

Application Delivery Controller Market Segments:

Deployment Insights

Hardware-based ADCs accounted for the largest share of over 59% in 2024. Hardware-based ADCs are engineered to deliver superior performance compared to software-based solutions. By leveraging dedicated hardware components, such as Application-Specific Integrated Circuits (ASICs), these devices optimize data processing and traffic management. This specialized architecture enables faster packet processing, resulting in lower latency and higher throughput. As a result, hardware-based ADCs are particularly suited for organizations that experience high traffic loads and require reliable performance for mission-critical applications. With the increasing reliance on real-time applications-such as video conferencing, online transactions, and cloud services-businesses need solutions that can handle intensive workloads without compromising efficiency. Consequently, the demand for high-performance hardware-based ADCs is on the rise, as organizations seek to ensure seamless application delivery, maintain high user satisfaction, and support the growing complexities of their IT environments.

Enterprise Size Insights

Large enterprises accounted for the largest share in 2024. Large enterprises often manage intricate IT environments that encompass a combination of on-premises, cloud, and hybrid architectures. This complexity creates significant challenges in application delivery, traffic management, and security, necessitating advanced solutions that can adapt to varied infrastructures. ADCs are specifically designed to navigate these multifaceted setups, providing centralized control over application traffic and ensuring seamless integration across different platforms. ADCs enhance operational efficiency by simplifying the management of diverse applications, allowing organizations to monitor and optimize performance from a single point of control. Their ability to balance traffic, ensure high availability, and implement security measures across multiple environments is crucial for large enterprises. As these organizations strive to maintain performance and reliability amidst growing complexities, the demand for ADCs continues to rise, solidifying their role as essential tools for effective application delivery in modern IT landscapes.

End Use Insights

The BFSI segment accounted for the largest share in 2024. The BFSI sector is experiencing significant growth, leading to an increase in transaction volumes that financial institutions must manage effectively. This surge in activity necessitates scalable solutions capable of adjusting to fluctuating demands. ADCs play a crucial role in this context, as they provide the flexibility to scale resources up or down in real time. During peak traffic periods, such as month-end closings or promotional campaigns, ADCs ensure that applications can handle the increased load without sacrificing performance. By efficiently distributing traffic and optimizing resource utilization, ADCs maintain high availability and responsiveness, which is crucial for customer satisfaction in a competitive financial landscape. As organizations strive to accommodate growth and meet rising customer expectations, the scalability offered by ADCs becomes essential. This capability not only supports the current operational needs but also positions financial institutions for future expansion and digital transformation initiatives.

Regional Insights

North America application delivery controller market held the largest share of over 34% in 2024. North American enterprises, especially in the U.S. and Canada, are leading the way in cloud adoption and digital transformation. As businesses increasingly migrate to hybrid and multi-cloud environments, the need for Application Delivery Controllers (ADCs) has grown substantially. ADCs are essential in ensuring seamless application delivery, providing scalability, and securing the flow of data across various infrastructures. In cloud environments, ADCs play a critical role in optimizing the performance of cloud-based applications, balancing traffic loads, and reducing latency. As organizations rely more on cloud services to enhance operational efficiency, the demand for ADC solutions that can integrate effectively across multiple platforms continues to rise. This trend supports North America’s position as a key growth market for ADC providers, as companies seek solutions that enable them to handle dynamic workloads while maintaining high levels of security and performance during their digital transformation efforts.

Browse through Grand View Research’s Network Security Industry Research Reports.

• The global software defined storage market size was valued at USD 38.43 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 27.9% from 2024 to 2030.
• The global bring your own device market size was valued at USD 90.59 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030.

Key Application Delivery Controller Company Insights

Some of the key companies in the application delivery controller market include F5 Networks, A10 Networks, Citrix Systems, Barracuda Networks, and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.

• F5 Networks is known for its advanced solutions that optimize the performance, security, and scalability of applications across multi-cloud and on-premises environments. F5’s ADCs are designed to enhance application availability, ensure secure traffic management, and provide flexible load balancing. With the rise of cloud computing, F5’s innovations in ADC technology, including integration with security features like Web Application Firewalls (WAF), make it a critical component for businesses undergoing digital transformation.
• Citrix Systems is a significant player in the Application Delivery Controller (ADC) market. Citrix’s ADCs are designed to enhance the performance, security, and scalability of applications across cloud and on-premises environments. NetScaler ADCs are known for their robust load balancing, application acceleration, and security features, making them a popular choice for enterprises looking to improve application delivery.

Key Application Delivery Controller Companies:

The following are the leading companies in the application delivery controller market. These companies collectively hold the largest market share and dictate industry trends.

• F5 Networks
• A10 Networks
• Citrix Systems
• Radware
• Array Networks
• Kemp Technologies
• Fortinet, Inc.
• Cisco Systems
• Barracuda Networks
• ZEVENET

Segments Covered in the Report

Grand View Research has segmented the application delivery controller market on the basis of deployment, enterprise size, end-use, and region:

Application Delivery Controller Deployment Outlook (Revenue, USD Million; 2017 – 2029)

• Hardware-based ADCs
• Virtual ADCs

Application Delivery Controller Enterprise Size Outlook (Revenue, USD Million; 2017 – 2029)

• Small & Medium Enterprise
• Large Enterprise

Application Delivery Controller End-Use Outlook (Revenue, USD Million; 2017 – 2029)

• IT & Telecom
• BFSI
• Government
• Healthcare
• Retail
• Others

Application Delivery Controller Regional Outlook (Revenue, USD Million; 2017 – 2029)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE

Recent Developments

• In August 2024, Broadcom Inc. unveiled VMware Tanzu Platform 10, designed to accelerate cloud-native application delivery by enhancing governance and operational efficiency for platform engineering teams. It reduces complexity for developers and introduces Tanzu AI Solutions to enable rapid, secure deployment of GenAI-powered applications.
• In April 2023, A10 Networks launched an integrated cloud-native Thunder Application Delivery Controller (ADC) with Fastly’s next-gen Web Application Firewall (WAF), enhancing cloud defense capabilities. This solution provides improved security, performance, and scalability for businesses by combining Fastly’s advanced threat detection with A10’s application delivery expertise, addressing evolving cloud threats effectively.

Order a free sample PDF of the Application Delivery Controller Market Intelligence Study, published by Grand View Research.

Flow Meter Industry

The global flow meter market size was valued at USD 10.02 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030. The market shipment size was valued at 53,78,749 units in 2020. The increasing demand for flow rate measurement in O&G management applications across the globe is expected to drive the growth of the market over the forecast period. The adoption of measurement technologies and instruments would also gain traction in other sectors, such as water and wastewater, power generation, and pulp and paper over the forecast period. The adoption of products would be particularly significant in the O&G, and chemical and petroleum refinery sectors owing to the recent detection of shale gas reserves in North America, Europe, and the Asia Pacific.

The demand for intelligent systems is expected to increase over the foreseeable period as the integration of IoT has led to the introduction of smart measurement solutions. The demand for the Coriolis flowmeter is estimated to increase on account of its enhanced smart capabilities to measure the rate more accurately. The players in the market are mainly targeting the O&G sector and investing aggressively to offer innovative products and solutions to measure the flow rate of liquids, gases, and vapors. Additionally, custody transfer in the oil and gas sector is one of the key applications creating lucrative opportunities for ultrasonic and Coriolis flowmeters.

Gather more insights about the market drivers, restrains and growth of the Global Flow Meter market

Flow Meter Market Segments:

Market Concentration & Characteristics

The market growth stage in the flow meter market is high, and the pace of the market growth is accelerating. These key players typically include established companies with extensive product portfolios, strong brand recognition, and wide geographic presence. While numerous manufacturers and suppliers are operating in the flow meter market, a handful of major players tend to command a larger share of the market due to their competitive advantages, such as technological expertise, diversified product offerings, and established customer relationships.

Product Insights

The magnetic flowmeters segment held the largest revenue share of approximately 26.17% of the total market share in 2023. The product has further been classified into wired and wireless magnetic flowmeters. Ultrasonic segments are anticipated to witness a high growth rate exceeding 7.3% from 2024 to 2030. These flowmeters feature the integration of IoT, leading to smart flow rate measurement solutions.

Differential pressure (DP) and positive displacement (PD) flowmeters are conventional products for measuring rates. On the other hand, a magnetic flowmeter is ideal for measurement applications in sectors such as pulp and paper, petrochemicals, food and beverage, and chemicals and petroleum refinement owing to the reliability, accuracy, and cost-effectiveness of these meters.

Power Type Insights

The battery-powered segment held the largest revenue share of approximately 45.6% of the total market share in 2023. The solar power type segment is anticipated to witness a high growth rate exceeding 7.4% from 2024 to 2030. Solar power systems are very effective in remote locations where regular power supply is unavailable; similarly, they are a clean source with fewer expenses. A solar power system primarily comprises the solar panel, battery, enclosure, and charge regulator.

Application Insights

The oil and gas segment is expected to emerge as the fastest-growing segment, registering a CAGR of 6.4% from 2024 to 2030 owing to the rapid growth of the industry. The development of shale gas reserves is also expected to boost the demand for the product in the oil and gas (O&G) and chemical and petroleum refinement sectors. Flow meters are an effective solution to measure the rate of upstream and downstream processes, custody transfer, and liquid hydrocarbons within the O&G and chemical industries.

Pipe Size Insights

The 2-inch pipe size segment held the largest revenue share of approximately 44.73% of the total market share in 2023 and is anticipated to witness a high CAGR exceeding 5.9% from 2024 to 2030. The precise pipe size is most important for any product because a distorted fluid velocity profile (swirl) is one of the common reasons for product inaccuracy. Swirls or other distortions in the flow are caused by various connecting instruments such as elbows, tees, and valves.

Regional Insights

Some of the prominent market players in North America include General Electric; Emerson Electric Corporation; and Honeywell International Inc.; therefore, the region holds a significant market share in terms of revenue.

Browse through Grand View Research’s Sensors & Controls Industry Research Reports.

• The global power generation market is anticipated to grow significantly over the forecast period. Power generation is carried out by the means of conventional/non-renewable and renewable sources of energy.
• The global shale gas market size was valued at USD 68.3 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2020 to 2027.

Key Flow Meter Company Insights

The key market players engage in strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share. Companies are focusing on strategic geographic expansions through partnerships & collaborations and mergers and acquisitions. Additionally, industry players are continually investing in R&D to develop differentiated products and stay ahead of the competition. The report also includes a competitive landscape for a holistic understanding of the rivalry among the industry players.

Some prominent players in the market include ABB Ltd., Emerson Electric Corporation, General Electric, Krohne Messtechnik Gmbh, HÖNTZSCH GMBH & CO. KG, Hitachi High-Tech Corporation, and Siemens.

• ABB Ltd, is a global technology company specializing in robotics, automation, electrification, and digitalization solutions for industries such as utilities, transportation, infrastructure, and manufacturing.
• KROHNE Messtechnik GmbH is a leading global manufacturer and supplier of industrial process instrumentation and measurement solutions. The company specializes in the development and production of flow meters, level meters, temperature meters, pressure meters, and analytical instruments for various industries such as oil and gas, water and wastewater, chemicals, food and beverage, pharmaceuticals, and more.

FloRight Solutions and FlowGenix. are some of the emerging market participants in the target market.

• FloRight specializes in the design and production of cutting-edge flow meters for various industrial applications, including oil and gas, chemical processing, and water management.
• FlowGenix is a U.S.-based company that specializes in the development and production of innovative flow measurement solutions for a wide range of industries, including oil and gas, water and wastewater management, and pharmaceuticals.

Key Flow Meter Companies:

The following are the leading companies in the flow meter market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these flow meter companies are analyzed to map the supply network.

• ABB Ltd.
• Emerson Electric Corporation
• em-tec GmbH
• Endress+Hausar AG
• General Electric
• Hitachi High-Tech Corporation
• Honeywell International Inc.
• HÖNTZSCH GMBH & CO. KG
• Krohne Messtechnik Gmbh
• Siemens
• Yokogawa Electric Corporation

Segments Covered in the Report

Grand View Research has segmented the global flow meter market based on product, application, power type, pipe size, and region:

Flow Meter Product Outlook (Revenue, USD Billion, 2017 – 2030)

• Differential Pressure (DP)
• Positive Displacement (PD)
• Magnetic
  • Wired
  • Wireless
• Ultrasonic
• Coriolis
• Turbine
• Vortex
• Others

Flow Meter Power Type Outlook (Revenue, USD Billion, 2017 – 2030)

• Electric
• Solar
• Battery Powered

Flow Meter Application Outlook (Revenue, USD Billion, 2017 – 2030)

• Water & Wastewater
• Oil & Gas
• Chemicals
• Power Generation
• Pulp & Paper
• Food & Beverage
• Others

Flow Meter Pipe Size Outlook (Revenue, USD Billion, 2017 – 2030)

• 2 inches
• 4 inches
• 6 inches
• More than 6 inches

Flow Meter Regional Outlook (Revenue, USD Billion, 2017 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East and Africa (MEA)

Order a free sample PDF of the Flow Meter Market Intelligence Study, published by Grand View Research.

Hydrogen Energy Storage Industry

The global hydrogen energy storage market size was estimated at USD 15.97 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030. The growth can be primarily attributed to the swift industrialization of developing countries and increasing acceptance of alternative forms of energy. The U.S. market is projected to witness significant growth over the forecast period owing to ongoing research & development and construction of full-scale storage projects. The Hydrogen Fueling Infrastructure Research and Station Technology (H2FIRST) is a part of the initiative undertaken by the Fuel Cell Technologies Office, based on prevalent and upcoming technologies at national labs.

The development and construction of cost-effective and energy-saving hydrogen stations across the U.S. are among the key objectives planned by the government. Such factors are expected to boost market growth in the U.S. Increased hydrogen applications across a variety of industries are predicted to fuel market expansion. Hydrogen, for example, can be used for industrial applications in oil refineries, power generation in stationary fuel cells, as a fuel in fuel cell vehicles, and stored as a cryogenic liquid, compressed gas, or loosely bonded hydride chemical compound.

Gather more insights about the market drivers, restrains and growth of the Global Hydrogen Energy Storage market

Hydrogen Energy Storage Market Segments:

Market Dynamics

Various government policies are ongoing to support hydrogen as a fuel. The European Commission announced its strategy for the development of green hydrogen. The European Commission has approved green hydrogen production, which reforms H2 from natural gas and captures carbon dioxide emissions through carbon capture and storage. In 2020, Engie successfully refueled its first renewable hydrogen passenger train for a pilot test in the Netherlands. Hydrogen-fueled train is expected to be introduced by 2024, wherein Engie and Alstom are expected to collaborate to develop hydrogen-fueled trains across the Netherlands. With this success, the company is likely to expand its solution further across other countries, wherein hydrogen trains can be deployed, leading to a high demand for hydrogen energy and its storage.

Technology Insights

The compression storage technology segment accounted for the largest revenue share of over 40.0% in 2023. This can be attributed to the wide applications of compressed hydrogen in various sectors. Compressed hydrogen is utilized in on-site stationary power generation, hydrogen filling stations, and road transportation fuel cell vehicles. Furthermore, the compression technique is utilized to store hydrogen in cylinders for industrial applications in manufacturing and chemical industries.

Physical State Insights

The solid segment held the largest revenue share of around 50.0% in 2023. Storage of hydrogen in solid form, i.e., stored in another material, is one of the emerging areas in the market. Methods for storing hydrogen in solid form include techniques involving absorption or adsorption mechanisms of hydrogen by a material.

Application Insights

The industrial application segment held the largest revenue share of over 40.0% in 2023. The use of hydrogen energy storage for residential applications is limited around the world. Countries such as Japan, Germany, France, and Belgium are strengthening their legislative frameworks, which are likely to catalyze the utilization of fuel cells in the residential applications for micro combined heat and power. For instance, Japan’s ENE-FARM program has fueled the adoption of fuel cell-based systems for use as fuel cell micro-cogeneration in residential sector.

Regional Insights

Asia Pacific region held the largest revenue share of over 37.48% in 2023. Asia Pacific market consists of major countries such as China, Japan, South Korea, India, Australia, and other Southeast Asian countries. Major countries such as Russia, Spain, Germany, Italy, UK, and smaller Eastern and Central European countries make up the European hydrogen energy storage industry. Enormous demand for hydrogen generation from a variety of end users, including industrial and commercial institutions, is to blame.

Browse through Grand View Research’s Renewable Energy Industry Research Reports.

• The global fuel cell vehicle market size was valued at USD 1.45 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 52.5% from 2023 to 2030.
• The global green hydrogen market size was valued at USD 3.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 39.5% from 2022 to 2030.

Key Companies & Market Share Insights

Enhanced level of forward integration, strong research and development, security of renewable energy power supply, and cost of storage are among the significant factors driving the competitiveness of the hydrogen energy storage industry. In September 2023, India is expected to launch 100 MW of green hydrogen storage pilot project for round-the-clock power supply. The proposed project is set for an investment of USD 250 billion and shall offer significant economic development opportunities.

Key Hydrogen Energy Storage Companies:

• Air Liquide
• Air Products Inc.
• Cummins Inc.
• Engie
• ITM Power
• Iwatani Corporation
• Linde plc
• Nedstack Fuel Cell Technology BV
• Nel ASA
• Steelhead Composites Inc.

Segments Covered in the Report

Grand View Research has segmented the global hydrogen energy storage market on the basis of on technology, physical state, application, and region:

Hydrogen Energy Storage Technology Outlook (Revenue, USD Million, 2018 – 2030)

• Compression
• Liquefaction
• Material Based

Hydrogen Energy Storage Physical State Outlook (Revenue, USD Million, 2018 – 2030)

• Solid
• Liquid
• Gas

Hydrogen Energy Storage Application Outlook (Revenue, USD Million, 2018 – 2030)

• Residential
• Commercial
• Industrial

Hydrogen Energy Storage Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Russia
  • UK
  • Spain
  • Italy
  • France
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Central & South America
  • Brazil
  • Colombia
  • Paraguay
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt

Order a free sample PDF of the Hydrogen Energy Storage Market Intelligence Study, published by Grand View Research.

Advanced Driver Assistance Systems Industry

The global advanced driver assistance system market size was valued at USD 30.61 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. The growing demand for advanced driver assistance systems (ADAS) in compact passenger cars is projected to be a prime factor driving the market growth. Increasing government regulations for mandatory implementation of ADAS in vehicles are anticipated to further drive the demand. Growing disposable income, economic stability, and a rising preference for materialistic lifestyles are driving the sales of luxury vehicles worldwide.

Developed countries such as the U.S., Canada, Japan, Spain, South Korea, and Germany accounted for a majority share of luxury car owners. However, developing countries such as India and China are witnessing high growth in the sales of luxury cars in the last few years. Germany is the most lucrative luxury car market owing to the presence of major leading players such as BMW, Mercedes-Benz, Audi AG, and Volkswagen. It is also the largest exporter of luxury cars worldwide with the U.S. being one of the largest consumer markets for all types of luxury vehicles.

Gather more insights about the market drivers, restrains and growth of the Global Advanced Driver Assistance Systems market

Advanced Driver Assistance Systems Market Segments:

Solution Type Insights

The adaptive cruise control (ACC) segment dominated the market in 2022 and accounted for the highest market share of 19.7%. The segment growth can be attributed to increased demand for safety features, technological advancements such as sensor and radar technology, and government regulations that mandate the inclusion of ACC systems in certain vehicles, such as commercial vehicles.

Components Type Insights

Based on component type, the advanced driver assistance system market is segmented into sensor, processor, software, and others. The sensor segment accounted for the largest revenue share of 31.9% in 2022 is estimated to register the fastest CAGR of 12.3% over the forecast periodowing to the substantial importance of this component in vehicle automation. The functioning of ADAS is primarily dependent on sensors and their functional accuracy. LIDAR, RADAR, ultrasonic, camera, and other sensors work together to perform the desired assistance and safety function.

Vehicle Type Insights

The passenger car segment accounted for the largest revenue share of 73.4% in 2022 is estimated to register the fastest CAGR of 11.2% over the forecast period. The segment growth can be attributed to the increased demand for safety systems in developing markets due to growing consumer awareness, supporting legislation, and improving road safety standards. Based on vehicle type, the market can be segmented into passenger cars and commercial vehicles.

Regional Insights

North America holds the highest market share of 32.9% in 2022. The growth of this region is driven by the technological advancement in the automotive industry and the presence of major players in the region. Furthermore, the higher adoption rate of new technology, along with improved economic conditions in the region. The rising fatality rate and increase in sales of high-end vehicles in countries such as Canada and the U.S. in this region is driving the market growth.

Browse through Grand View Research’s Automotive & Transportation Industry Research Reports.

• The global LiDAR market size was valued at USD 1.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.
• The global electric vehicle communication controller market size was valued at USD 185.4 million in 2023 and is projected to grow at a CAGR of 32.5% from 2024 to 2030.

Key Companies & Market Share Insights

The prominent players are focusing on geographic expansions and new product launches to enhance their presence in the market and gain a competitive edge. These initiatives also assist in creating awareness regarding driver safety among end-users. The market players are also focusing on undertaking various strategic initiatives, mergers, and acquisitions, agreements and contracts, and partnerships to enhance their position in the market. For instance, in September 2021, Continental AG (Continental) and Beijing Horizon Robotics Technology R&D Co., Ltd. announced a Joint Venture (JV) contract. The JV focuses on providing software and hardware-integrated solutions for advanced driver assistance systems and autonomous driving.

Key Advanced Driver Assistance System Companies:

• Altera Corporation (Intel Corporation)
• Autoliv Inc.
• DENSO CORPORATION.
• Continental AG
• Garmin Ltd.
• Infineon Technologies AG
• Magna International Inc.
• Mobileye
• Robert Bosch GmbH
• Valeo SA
• Wabco Holdings Inc

Segments Covered in the Report

Grand View Research has segmented the global advanced driver assistance system market based on solution type, component type, vehicle type, and region:

Advanced Driver Assistance System Solution Type Outlook (Volume, Million Units; Revenue, Billion, 2018 – 2030)

• Adaptive Cruise Control (ACC)
• Blind Spot Detection System (BSD)
• Park Assistance
• Lane Departure Warning (LDWS) System
• Tire Pressure Monitoring System (TPMS)
• Autonomous Emergency Braking (AEB)
• Adaptive Front Lights (AFL)
• Others

Advanced Driver Assistance System Component Type Outlook (Volume, Million Units; Revenue, Billion, 2018 – 2030)

• Processor
• Sensors
  • Radar
  • LiDAR
  • Ultrasonic
  • Others
• Software
• Others

Advanced Driver Assistance System Vehicle Type Outlook (Volume, Million Units; Revenue, Billion, 2018 – 2030)

• Passenger Car
• Commercial Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Advanced Driver Assistance System Regional Outlook (Volume, Million Units; Revenue, Billion, 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE

Recent Developments

• In June 2023, Continental AG announced the development of low-cost ADAS (Advanced Driver Assistance Systems) for Indian cars and two-wheelers. The company aims to make vehicles in the Indian market safer and more affordable.
• In June 2023, Continental introduced a new high-performance computer (HPC) for cars. It integrates the cluster, infotainment, and advanced driver-assistance systems (ADAS) into a single unit.
• In January 2023, NXP Semiconductors, the U.S.-based automotive radar manufacturer, launched a new one-chip radar IC series for next-generation ADAS and automated driving systems. The SAF85xx series combines NXP’s advanced radar detector and processing technologies into a single device, providing tier-one suppliers and original equipment manufacturers (OEMs) with greater flexibility. It also, addresses short to long-range radar applications that comply with progressively meticulous NCAP safety requirements.

Order a free sample PDF of the Advanced Driver Assistance Systems Market Intelligence Study, published by Grand View Research.

Bioresorbable Polymers Industry

The global bioresorbable polymers market size was estimated at USD 1.30 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The globally increasing consumer health awareness, along with improving healthcare facilities and the rising number of surgical procedures are the primary factors aiding industry expansion. As per data by the National Library of Medicine (NLM) in 2020, globally, approximately 310 million major surgeries are conducted annually. Of these, around 20 million surgeries are performed in Europe and 40 to 50 million in the U.S. Bioresorbable, or bioabsorbable polymers, come from a class of materials that can be broken down and absorbed by the body over time.

These polymers are widely utilized in various fields, with the medical sector being a major one. In medicine, bioresorbable polymers are used in medical devices and implants, such as sutures, screws, tissue scaffolds, plates, and stents. These polymers dissolve in the body gradually, avoiding the need for a second surgery for their removal. Moreover, these polymers are used to create drug delivery systems, such as nanoparticles or microspheres. These systems release medication at a controlled pace and ultimately dissolve in the body, eliminating the need for their removal. Bioresorbable polymers used in medical procedures reduce any post-surgery risks for the patient without harming their body.

Gather more insights about the market drivers, restrains and growth of the Global Bioresorbable Polymers market

Bioresorbable Polymers Market Segments:

Product Insights

Polylactic acid (PLA) emerged as the leading product segment and accounted for the maximum share of 29.5% of the overall revenue in 2022. PLA-based product has the advantage of getting naturally converted into lactic acid in the body at low concentrations and can be safely removed by the body’s excretory system. Also, its degradable nature allows it to safely degrade and dissolve, thus eliminating the need for secondary surgery, which requires component removal. The use of bioresorbable polymer materials, such as PLA, is expected to increase in the area of lumbar interbody fusion. Polylactic acid exhibits stiffness, biocompatibility, and relatively high strength and high modulus, making it suitable for use in the manufacturing of fixation devices, such as arrows, washers, pins, and screws, in orthopedic surgeries.

Application Insights

Orthopedics emerged as the leading application segment and accounted for the maximum share of 43.6% of the overall revenue in 2022. The growing aging population, sedentary lifestyles, obesity, and lack of physical activity have increased the prevalence of orthopedic conditions, such as osteoporosis, arthritis, and degenerative joint diseases. This, in turn, is expected to drive the product demand. According to the National Institute of Health (NIH), total knee arthroplasty (TKA) stands as the most frequently conducted inpatient surgical procedure in the U.S. The number of TKA procedures was recorded at 1.37 million in 2020, and it is expected to reach 3.48 million procedures annually by 2030.

Regional Insights

North America dominated the global industry and accounted for the largest revenue share of 32.5% in 2022. This is attributed to the increasing product consumption in drug delivery and orthopedics applications in the region. The U.S. is the major hub for research & development in the healthcare industry, further driving the market growth in North America. Moreover, the rising demand for orthopedics and drug delivery applications supports the bioresorbable polymers demand in the region. According to the data provided by the American Joint Replacement Registry (AJRR) in 2022, over 2.8 million knee and hip procedures were performed across 1,250 health institutions in the U.S. This signifies a remarkable 14% increase in cumulative registered procedural volume compared to the previous year, establishing the AJRR as the world’s largest arthroplasty registry in terms of volume.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

• The global microspheres market size was valued at USD 6.85 billion in 2023 and is projected to grow at a CAGR of 5.7% from 2024 to 2030.
• The global cochlear implant market size was estimated at USD 1.86 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.02% from 2024 to 2030.

Key Companies & Market Share Insights

Companies are rapidly expanding their production capabilities to consolidate their market position. With governmental support in various countries focused on environmental concerns as well as the growing demand for specialized orthopedic and drug delivery applications in the global population, industry players have been compelled to focus on consumer-specific product positioning strategies for higher penetration in the local markets. For instance, in August 2021, Evonik Industries AG acquired a German biotech company, JeNaCell, to expand its biomaterials product portfolio in the healthcare industry. The acquisition will help Evonik’s Nutrition & Care division’s portfolio transformation to system solutions and will expand the division’s natural goods for the medical technology platform. Some of the major participants in the global bioresorbable polymers market include:

• Corbion NV
• Evonik Industries AG
• Poly-Med Inc.
• Foster Corp.
• Abbott
• KLS Martin Group
• 3D Biotek LLC.
• Sunstar Suisse S.A.
• DSM
• Futerro

Segments Covered in the Report

Grand View Research has segmented the global bioresorbable polymers market based on product, application, and region:

Bioresorbable Polymers Product Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)

• Polysaccharides
• Proteins
• Polylactic Acid (PLA)
• Polyglycolic Acid
• Polycaprolactone
• Others

Bioresorbable Polymers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)

• Drug Delivery
• Orthopedics
• Others

Bioresorbable Polymers Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • The Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Order a free sample PDF of the Bioresorbable Polymers Market Intelligence Study, published by Grand View Research.

Waterborne Coatings Industry

The global waterborne coatings market size was valued at USD 57.67 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. The growth is driven by the fostering of construction activities across the globe. Rising construction activities on account of rapid industrialization and urbanization across the globe are anticipated to drive product demand over the projected period. The excessive shift in coatings trend from low or high-volatility organic solvents to complete solvent-free coatings that have fewer emissions is likely to contribute to the growing demand for waterborne coatings in residential as well as commercial coating applications. Interior and exterior wall paint formulations mainly rely on waterborne coatings.

These formulations are usually based on acrylate/styrene dispersions. The product manufacturers are also focusing on reducing the average binder requirement in the formulation by 8–12% without affecting the property profile. Alkyd-based waterborne coatings are also preferred by many interior decorators as they are easier to apply, have a glossy finish, and provide better compensation for climatic variation in application and drying. A rise in automobile production capacities coupled with the growing innovation in design and aesthetics is anticipated to remain a key driving force behind the market growth in automobile applications. Automobile production is expected to rise owing to population expansion and rising per capita disposable income, particularly in emerging economies of Asia Pacific and Latin America.

Gather more insights about the market drivers, restrains and growth of the Global Waterborne Coatings market

Waterborne Coatings Market Segments:

Resin Insights

The acrylic resin segment dominated the industry with the highest revenue share of 83.4% in 2022. Growing demand from infrastructure and automotive industries on the account of glossy color retention in outdoor exposure is anticipated to propel the demand for acrylic waterborne coatings. The demand for acrylic resin-based coatings is likely to grow substantially over the foreseeable future owing to increasing applications in radiation curing and electrodeposition. Growing demand in the transportation industry for refinishes in aircraft, autos, ships, railroads, and trucks is expected to drive Polyurethane (PU) coatings demand.

Application Insights

The architectural application segment dominated the industry in 2022 and accounted for the highest share of 87.1% of the overall revenue. Waterborne coatings account for a major share of total architectural coatings and are expected to increase significantly over the next seven to ten years owing to increasing regulations regarding VOC emissions. Increasing construction spending owing to higher income levels in emerging economies of Asia Pacific, Latin America, and Middle East is expected to drive the segment growth over the next seven years. The rising usage of acrylic-based coating in the industrial coating is also expected to boost market growth. The advent of insulation and sound-damping coatings is expected to propel segment growth and provide lucrative opportunities for industry participants.

Regional Insights

Europe dominated the global industry in 2022 and accounted for the highest share of over 38.1% of the overall revenue. This is attributed to the presence of various major automobile manufacturers in the region. Furthermore, there has been a growing consumer preference for luxury in Europe. These factors are expected to increase the demand for waterborne coatings in automobile OEM & refinishing work. The highest growth in terms of construction spending is expected to be cantered in emerging economies of Asia Pacific including China, followed by India and Indonesia.

Browse through Grand View Research’s Paints, Coatings & Printing Inks Industry Research Reports.

• The global ceramic coating market size was valued at USD 11.16 billion in 2023 and is projected to grow at a CAGR of 8.1% from 2024 to 2030.
• The global hydrophobic coating market was valued at USD 2.06 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030.

Key Companies & Market Share Insights

The competition among global companies is likely to grow in future on the account of rapid innovations by new and emerging players in the industry. Manufacturers are targeting to improve their product portfolios, by innovating, designing, and launching a range of new products. This factor is expected to trigger competition in the industry. Some of the prominent players in the global waterborne coatings market include:

• AkzoNobel NV
• BASF SE
• Axalta Coating Systems LLC
• Berger Paints India Ltd.
• Kansai Paint Co.,
• Nippon Paint Holdings Company Ltd.
• PPG Industries Inc.
• RPM International Inc.
• The Sherwin-Williams Company
• The Valspar Corp.
• Tikkurila Oyj

Segments Covered in the Report

Grand View Research has segmented the global waterborne coatings market on the basis of resin, application, and region:

Waterborne Coatings Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Acrylic
• Polyurethane (PU)
• Epoxy
• Alkyd
• Polyester
• Polytetrafluoroethylene (PTFE)
• Polyvinylidene Chloride (PVDC)
• Polyvinylidene Fluoride (PVDF)
• Others

Waterborne Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Architectural
• General Industrial
• Automotive OEM
• Metal Packaging
• Protective Coatings
• Automotive Refinish
• Industrial Wood
• Marine
• Coil
• Others

Waterborne Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
  • Colombia
• Middle East & Africa
  • Saudi Arabia
  • South Africa

Order a free sample PDF of the Waterborne Coatings Market Intelligence Study, published by Grand View Research.