North America PVC Films Market Size Worth $2.7 Billion By 2027

The North America PVC films market size is anticipated to reach USD 2.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.6% from 2020 to 2027. The adoption of Polyvinyl Chloride (PVC) films in the packaging of food and beverages is increasing as these films provide a cost-effective and flexible packaging solution to the consumers.

Food and beverage is the most prominent market for the packaging industry. Growth in the population (via immigrations), rise in the working women population, increase in disposable income, and hectic work-life schedules have macro economically boosted the demand for ready-to-eat food products, packaged meals, and outdoor dining.

North America is considered to be one of the major and technologically advanced regional markets for PVC films as compared to other regions, such as the Asia Pacific and Africa. The recent outbreak of COVID-19 has resulted in the slowdown or halt in manufacturing activities, restrictions on supply and transport, and the slowdown of infrastructure projects, which is expected to negatively impact the demand for PVC films in the fourth quarter of 2020.

Building materials are among the prominent end uses of PVC films in North America. The economic growth of the region has driven government spending on construction. Moreover, the rise in annual incomes and urbanization have driven the construction activities of residential buildings. According to the Census Bureau of the U.S., the total value of construction put into place in July 2019 was USD 1,366,042 million. It increased to a value of USD 1,436,727 million in March 2020. However, it declined to USD 1,364,565 million in July 2020 due to the unprecedented outbreak of COVID-19 in the country.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-polyvinyl-chloride-pvc-films-market

Further key findings from the report suggest:

The packaging segment was the largest end-use segment in 2019. PVC-based shrink wraps are used for preventing the products from getting spoiled in retail and shipping environments owing to their inexpensiveness, multi-purpose capabilities, and lightweight properties
The rising need for sustainable and durable packaging products is anticipated to drive the demand for PVC films in the food packaging industry
By product, monomeric flexible PVC films are expected to expand at a CAGR of 3.1% in terms of revenue from 2020 to 2027. These films are best suited for indoor flat applications and have an outdoor durability of 3-4 years for black and 2-3 years for colored products
As of 2019, the U.S. accounted for more than 70.0% share of the regional revenue. Increasing demand for PVC films in the medical applications for manufacturing capsules, tablets, drainage bags, and other medical equipment is assisting the market growth in the country.

Smart Stadium Market Worth $21.00 Billion By 2025

The global smart stadium market size is expected to reach USD 21.00 billion by 2025, expanding at a 20.9% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing focus on engaging and entertaining the fans at stadiums, coupled with stringent security regulations framed by sports governing bodies are among the key factors driving the market growth. Additionally, growing demand for data-driven operations and upcoming international and national sports events are anticipated to increase the demand for smart stadiums.

Stadiums across the developing and developed economies are being renovated to offer facilities such as smart parking, fan experience, operational efficiency, enhanced security, and next-generation viewing experience, among others. Smart stadiums include many surveillance solutions, parking solutions, sensors, and digital signs, among other solutions. These solutions deliver real-time information such as in-stadium merchandise pricing, lines at concession stands, and available parking, thus enhancing the fans’ overall experience. Additionally, smart stadiums support green initiatives navigating fans to dispose of waste in dustbins and allowing only disposable items in the stadium.

In 2018, Europe accounted for a majority stake of the smart stadium market, attributed to the high adoption of smart stadium solutions owing to a large number of stadiums across the region. The region has over 1,200 stadiums and has the highest number of professional sports teams and leagues. In 2018, Germany held the majority share in the Europe market.

Asia Pacific, on the other hand, is projected to grow at a considerable CAGR and is anticipated to account for 29.8% of the market revenue in 2025. The strong growth is attributed to the digitalization of sports, increasing penetration of internet and cloud technology, and the emergence of professional leagues in the region. Moreover, sports organizations, including Melbourne Cricket Association, New Zealand Cricket, and Sahara Force India, among others use advanced technologies for hosting tournaments. Singapore, Australia, Japan, India, and China are some of the countries focused on building new smart stadiums and renovating the existing stadiums with improved technology.

Some of the key players operating in the market are Cisco Systems, Inc.; Apple, Inc.; Telefonaktiebolaget LM Ericsson; Fujitsu Ltd.; Fitbit, Inc.; NXP Semiconductors; IBM Corporation; NEC Corporation; Johnson Controls; and Intel Corporation. The market is moderately consolidated owing to the existence of a few solution providers that account for the majority share of the market revenue.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-stadium-market

Further key findings from the report suggest:

Software segment is expected to continue leading the smart stadium market over the forecast period owing to increasing focus on fan engagement by providing them better experience. The segment is expected to reach USD 12.97 billion by 2025
On premise segment is estimated to dominate the market over the forecast period. The smart stadium comprises of a large number of cameras, digital signs, and sensors, connected to wireless and wired servers and networks
Asia Pacific is estimated to expand at a significant CAGR of 23.5% over the forecast period. Emerging countries such as Japan, India, ASEAN, and Australia are swiftly adopting digital technologies in stadiums for enhancing the fan experience and increasing safety and security
Prominent market players include IBM Corporation; Intel Corporation; NEC Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; among others

Smart Ticketing Market Size Worth $33.7 Billion By 2026

The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.

Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.

Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.

These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-ticketing-market

Further key findings from the report suggest:

The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
Smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.

Distributed Fiber Optic Sensor Market Size Worth $1.87 Billion By 2025

The global distributed fiber optic sensor market size is anticipated to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2019 to 2025. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil and gas sector are projected to substantially boost the market growth. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, the capability of Distributed Fiber Optic Sensors (DFOS) to work in challenging environment is another factor propelling the growth.

Increasing demand for sophisticated infrastructure coupled with rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Governments from around the world focus on conserving their existing infrastructure and developing new projects. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on road, railway, and dam construction projects. This rapid growth in the advanced civil engineering is expected to boost the distributed fiber optic sensor market.

The rapid adoption of DFOS has encouraged investments in R&D activities by manufacturers and suppliers to launch new products. They are also focusing on optimizing their production process and regulating efficiency to curb all other alternatives of the fiber optics technology. Due to the high price of production and installation processes of DFOS products, the manufacturers are developing competitively priced optic inspection products that are more reliable. However, factors such as technological complexities and other challenges incurring in optical inspection process are hampering the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/distributed-fiber-optic-sensor-sensing-dfos-market

Further key findings from the report suggest:

Temperature sensing application segment is expected to continue leading in terms of market size over the forecast period. Temperature sensors find application in oil and gas and civil engineering segments
Suppliers and manufacturers of fiber optic equipment are looking to achieving higher bandwidth, 100 GBPS, by undertaking intense research activities
North America dominated the global market in 2018 and is projected to account for the largest market share in terms of revenue in the forthcoming years
Growing demand for DFOS equipment can be attributed to the ever-growing demand for efficient and optimized processes, across enterprises and manufacturing sectors
Key market participants include Halliburton, Schlumberger Limited, Yokogawa Electric Corporation, OFS Fitel, LLC, Qinetiq Group PLC, Omnisens SA, Brugg Kable AG, Luna Innovations Incorporated, and AP Sensing GmbH

Video Intercom Device Market Size Worth $41.07 Billion By 2025

The global video intercom devices market size is projected to reach USD 41.07 billion by 2025 registering a CAGR of 12.8% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Rise in the number of residential and commercial buildings is expected to propel the growth of the video intercom device market over the forecast period. The market is witnessing a significant growth owing to innovations in video streaming, and Session Initiation Protocol (SIP). Video intercoms use the internet for data transfer and are also equipped with cameras that offer high-quality imagery and night vision functionality. This has resulted in high demand for such devices in offices and residential apartments for security purposes.

These devices are suitable for managing the security of commercial buildings as they can be integrated with video surveillance systems, access control systems, and security & building management systems. They are widely deployed in automobiles, which is expected to generate significant demand over the forecast period. These systems feature emergency call queuing, paging, and audiovisual identification of visitors, among others. Moreover, they can remotely unlock doors with electric door strike to let visitors enter the house and can broadcast visitors’ information to multiple stations through a standard master station or mobile device application. Furthermore, the audiovisual communication feature allows a resident to recognize the visitor.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/video-intercom-devices-market

Further Key Findings from the Report Suggest:

The door entry systems segment is expected to account for the highest market share in 2025 expanding at the highest CAGR of 13.3% from 2019 to 2025
Door entry systems function as either audio or video systems. An audio door entry system allows a user to communicate with the callers and a video system displays an image of the visitor
Password access control offers various benefits, such as easy access, convenient access, and higher security, due to which the segment is anticipated to account for the maximum market share
The wireless segment is anticipated to register the highest CAGR of 13.5% from 2019 to 2025. Wireless systems use a Wi-Fi network to transmit the signals between other intercom security devices
Lower installation and maintenance costs of wireless video intercom systems are expected to fuel the segment growth over the forecast period
The IP-based technology segment is anticipated to expand at the highest CAGR of from 2019 to 2025 owing to enhanced video surveillance, communication, and entry control capabilities of these systems
North America is expected to be the largest regional video intercom device market over the forecast period due to increasing construction activities of smart homes in the region
Key companies are Aiphone Co., Ltd.; Alpha Communications; Comelit Group S.P.A.; Dahua Technology Co., Ltd.; Godrej.Com; Honeywell International, Inc.; Legrand; Panasonic Corp.; Samsung; and Siedle & Sohne OHG

Candle Market Size Worth $6.06 Billion By 2025

The global candle market size is expected to reach USD 6.06 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.4% during the forecast period. Increasing popularity of using candles in home décor and ambience creation is expected to fuel the growth. Rapid rise in adoption for residential and commercial applications coupled with the demand for candles for religious purposes is anticipated to further drive market. Service providers such as hotels, restaurants, and beauty and spa use candles to create a warm, cozy, and relaxing ambiance. This factor is projected to further drive the product demand.

Scented candles have been gaining popularity in the recent years among urban millennials from developed countries including U.S., Germany, and France. These scented candles are available in various fragrances including basil, eucalyptus, jasmine, lavender, lemon, orange, rosemary, and vanilla among many others. Each of these fragrances are situation specific and have unique health benefits. For instance, basil helps create a positively alert mental state. It helps ensure better concentration and is found to be beneficial for nervous system stimulation, migraine relief, and improved digestion. Similarly, eucalyptus is found beneficial for the treatment of various diseases including asthma, sinusitis, bronchitis, cough, pneumonia, rheumatism, and arthritis.

In April 2019, Yankee Candle Company, launched a Sunday Brunch Candle collection. These products are available in jars under the brand names, Easter Basket and Rainbow Shake. These products will be launched in seven different fragrances including Grilled Peaches, Vanilla, Honey Lavender Gelato, Strawberry Bellini, Belgian Waffles, Blush Bouquet, and Sweet Morning Rose. Louis Vuitton, the French fashion house and luxury retailer, launched a line of scented candles in October, 2018. It will comprise of four scented candles including L’Air du Jardin, Île Blanche, Feuilles d’Or, and Dehors Il Neige.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/candle-market

Further key findings from the report suggest:

Votives product forms accounted for more than 25% of the global revenue in 2018
Pillar candles is expected to witness the fastest CAGR of 9.0% from 2019 to 2025
Online segment is expected to register the fastest CAGR of 8.7% over the forecast period
Paraffin products accounted for more than 30% of the global market share in terms of revenue in 2018
Key players operating in the candle market are Yankee Candles, White Barn Candles, Village Candles, Thymes, Slatkin & Co, NEST, Malin + Goetz, Jo Malone, Diptyque, Colonial Candle, Circle E Candles, Bridgewater Candles, Better Homes and Garden, and Bath & Body Works

Aftershave Lotions & Creams Market Size Worth $2.2 Billion By 2025

The global aftershave lotions and creams market size is anticipated to reach USD 2.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. Product innovations such as introduction of aftershave lotion with natural and organic ingredients is a key factor driving this market.

Every consumer wants multifunctional products that will help in nourishing skin and soothing irritation. The companies are reducing alcohol concentration and are adding natural ingredients such as caffeine, plant extract, and essential oil that help in reducing irritation and provide moisturizing effect. Similarly, some companies are offering multifunctional products such as antiaging technology, which helps in reducing wrinkles and promoting texture. Increasing product availability of technological advanced products is fueling demand for post shave lotions and creams.

Lotions and balm held a leading share of 67.2% in 2018. Increasing penetration of innovative products in developed countries such as India, China, and Brazil is a main factor driving this segment. Moreover, urge to look good and confident has led to an increase in spending on male grooming products. According to statistics, Indian men spend around 40 minutes on grooming. An average man spends around 12 minutes grooming his face, 14 minutes on hair, and 16 minutes on body. Rising awareness regarding grooming and hygiene is expected to have a positive impact on growth of the market.

The e-commerce segment is anticipated to expand at the fastest CAGR of 5.4% over the forecast period. Increasing penetration of smartphone, exposure to digital media, and growing middle class population are expected to have a positive impact on the sales of post shave products through online channel. Expansion of pureplay giants such as Amazon and Nykaa in India and China and incorporation of same day delivery system by these players are expected to fuel purchase of aftershave lotions and balm through the online channel.

Asia Pacific is projected to witness the fastest growth over the forecast period due to rising popularity of male grooming products, especially in countries like India and China. The e-commerce market is booming in the region, which is attributed rising urbanization and internet penetration. Owing to growing popularity of male grooming products, companies are foraying into partnership with e-commerce players such as Amazon. These major trends are anticipated to boost the regional aftershave lotions and creams market growth.

Key players operating in the market include Procter & Gamble; Unilever; Beiersdorf; Godrej Consumer Products Limited; L’Oréal; Colgate-Palmolive Company; Coty Inc.; D.R. Harris & Co Ltd.; Vi-john Group; and Herbacin cosmetic GmbH.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aftershave-lotions-creams-market

Further key findings from the report suggest:

North America is anticipated to witness significant growth from 2019 to 2025 owing to shifting consumer preference from conventional towards modern lifestyle
The e-commerce segment in India was valued at USD 0.2 million in 2018 due to rise in popularity of male grooming products among consumers
Asia Pacific is anticipated to expand at the highest CAGR of 6.5% over the forecast period
The global aftershave lotions and creams market is highly competitive in nature due to presence of top players such as Procter & Gamble and Unilever.

Athleisure Market Size Worth $517.5 Billion By 2025

The global athleisure market size is expected to reach USD 517.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.1% over the forest period. Increasing adoption of fashionable active wear in corporate houses and work places is expected to be a key driver. In addition, extensive brand campaigns by apparel manufacturers through the inclusion of various media and sports celebrities have changed the perception of active wear as a fashionable wear among millennial and young customers across the globe.

Premium athleisure was the largest product segment with a market share of more than 65.0% in 2018. Major manufacturers including Adidas AG;Lululemon Athletica, Inc.; Nike, Inc.; PUMA SE; and Under Armour, Inc. are collaborating with the celebrities and launching new products in order to gain maximum customers.

For instance, in March 2016, Julianne Hough signed an agreement with MPG Sport USA for promoting athleisure collection. The company collaborated with the actress for influencing the customers with a fitness freak actress. These initiatives are expected to increase the product’s visibility among buyers over the next few years.

Asia Pacific is expected to be the fastest growing region at a CAGR of 8.8% from 2019 to 2025. Over the past few years, the industry participants have adopted marketing strategies including innovative product launches, celebrity endorsements, increasing exclusive stores, and focus on e-commerce in order to cater to the increasing demand for technological advanced products in the developing countries including China and India.

For instance, in April 2018, Adidas AG announced to close their brand stores and focus on the development of e-commerce. The company has already closed around 220 stores across the globe in 2017 and is aiming to increase the revenue generated from e-commerce. These trends are expected to boost the market growth over the forecast period.

Key players include Lululemon Athletica, Inc.; Adidas AG; Nike, Inc.; PUMA SE; Under Armour, Inc.; AJIO Company; H&M; HUMAN PERFORMANCE ENGINEERING; EYSOM, LLC; and Esprit Retail B.V. & Co. KG. Product innovation is expected to remain a critical success factor among the manufacturing firms over the next few years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/athleisure-market

Further key findings from the report suggest:

Asia Pacific for athleisure market is expected to register the fastest CAGR of 8.8% from 2019 to 2025
North America was the largest market, with a share of more than 30.0% in 2018
Premium athleisure was the largest product segment, with a share of more than 65.0% in 2018
Online is expected to be the fastest growing segment at a CAGR of 8.5% from 2019 to 2025.

Men’s Underwear Market Worth $42.22 Billion By 2025

The global men’s underwear market size is expected to reach USD 42.22 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.3% during the forecast period. Increasing awareness about health, best fit and personal hygiene, and rise in millennial population, are expected to drive the growth. Increasing availability of a wide range of products in multiple designs suitable for various purposes such as sports, regular wear, and functional wear among others is projected to further fuel the demand.

Improving fashion trends, increasing disposable income, and changing consumer lifestyle and preferences are expected to boost the market growth. Increasing concerns regarding the fabric used for manufacturing underwear is one of the major factor driving the market. Availability of a wide variety of fabrics such as cotton, polyester, nylon, rayon, silk, and cotton blends further drive the product demand. Underwear manufactures are focusing on intimate product designs and patterns such as thongs, C-string, tanga, and jockstraps among others, which is projected to further fuel the product demand. Millennials are more receptive to new and different products. Demand for new and innovative products in terms of color, fabric, print, and style among others is high among millennials, which in turn is creating opportunity for the manufactures in the market.

Companies focus on R&D to make the products suitable for all shapes and sizes. Innovation in advance tailoring along with new fabric modal, viscose or merino wool, helps in reducing moisture and regulate temperature is driving the competitiveness in the market. For Instance, Saxx offer 3D hammock shaped pouch that prevent skin-against-skin friction with the help of mesh panels which features no exposed stitching for chafe free comfort. Also, Under Three-D fit range they have created a 3D shaping around glutes, thighs, quads and hamstrings by using nine panels of fabric to make consumers fit, feel and functional.

By type, the men’s underwear market is segmented into briefs, boxer brief, trunks, boxers, and others. Boxer brief is estimated to hold the largest market share of approximately 33.0% owing to the factors such as sleek fit, better support, and comfort offered by the product. Boxer brief are designed to imitate tapered boxers with a snug fit and they remain comfortable like briefs. They are available with numerous pouch options, for instance the contour pouch by Calvin Kelvin.

Trunks is estimated to register the fastest CAGR of 5.7% from 2019 to 2025. Trunks are gaining popularity among millennials and Generation X as they are more versatile and suitable for everyday wear including dressing up occasions and for sportswear. Trunks are lean short than boxer brief which allow the legs and thighs to look muscular and slimmer, which drives their popularity among younger generation.

By Fabric, the market is segmented into cotton, polyester, modal, nylon, and others. Cotton fabric underwear held the largest market share of approximately 68.0% in 2018, attributed to the properties of the cotton that makes underwear soft, lightweight, and more breathable. Consumers prefer cotton fabric underwear over others for the comfort, high absorbency, and moisture resistance of the fabric. Modal fabric underwear is projected to register the fastest CAGR of 5.6% over the forecasted period. It is a type of rayon and the second generation regenerated cellulosic fiber which is around 50% more absorbent than cotton. It is the softest fabric in men’s underwear segment. Shrink resistance, high wet strength, and absorbent properties of the fabric make it more durable and able to sustain multiple washes and suitable for tumble dry.

Asia Pacific is the largest and fastest growing market for men’s underwear. It is projected to expand at the fastest CAGR of 5.9% over the forecasted period. High demand for underwear owing to high male population in the region can be accredited to the growth. China and India accounted for male population of 714 million and 694 million respectively in 2017. Both these countries together account for more than 70.0% of the regional market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/mens-underwear-market

Further key findings from the report suggest:

Boxer brief type segment held the largest market share of approximately 33.0%% in 2018 and is expected to reach USD 14.23 billion by 2025
Cotton fabric held the largest market share of more than 68.0% in 2018, driven by the properties of cotton that make the underwear soft, lightweight, more breathable, highly absorbent, and moisture resistant
Key players in the men’s underwear market are Phillips-Van Heusen Corporation; Hanesbrands Inc.; Jockey International Inc.; American Eagle Outfitters Inc. and Ralph Lauren Corporation

Baby Car Seat Market Size Worth $10.9 Billion By 2025

The global baby car seat market size is expected to reach USD 10.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% over the forecast period. Growing awareness regarding child safety, along with the implementation of numerous government regulations in countries including France, Germany, and U.S., is driving the market. For instance, in U.S., there are laws stated by the Insurance Institute of Highway Safety for 50 states, which need to be followed for child safety.

The convertible product segment is expected to expand at the fastest CAGR of 7.1% from 2019 to 2025. It is more economical as compared to other products as it is well suited for both infants and toddlers. It provides both rear and front-facing seats for children.

Europe accounted for the largest share in 2018 and is expected to maintain its lead over the forecast period. Increasing number of government initiatives to use the product for a child of age-group between 0 to 12 years has driven the market. Asia Pacific is expected to be the fastest growing market at a CAGR of 10.4% from 2019 to 2025.

Increasing number of accidents in developing countries such as India and China has led to the rise in installation of the product. However, despite the implementation of various laws, these are not being followed by the national citizens. According to the General Administration of Quality Supervision, Inspection and Quarantine, approximately 18,500 babies die every year due to car accidents in China.

Hypermarkets and supermarkets dominated the industry, accounting for 55.6% share of the overall revenue in 2018. High penetration of these distribution channels in developed economies including U.S. and Germany, along with preference for the technical know-how about the products, has been fueling the growth of this sector.

Key producers of this industry include Dorel Industries Inc.; Goodbaby International Holdings; UPPAbaby; RENOLUX FRANCE INDUSTRY; RECARO Holding GmbH; Newell Brands; Mothercare plc; InfaSecure; Kiwi Baby; and Artsana Group. Product innovation is expected to remain one of the key strategies over the next few years.

For instance, in 2018, Goodbaby International Holdings Limited launched a convertible baby car seat, Cybex Sirona M. This product features sensor safe technology and enables the smart phone connectivity. The smart phone connectivity renders an alert to the driver if the seat is unbuckled during traveling in case of extreme cold or hot temperatures.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/baby-car-seat-market

Further key findings from the study suggest:

By product, the infant segment held the largest share of 32.2% in 2018
Online channel is expected to register the fastest CAGR of 7.1% from 2019 to 2025
Asia Pacific is expected register the fastest CAGR of 10.4% from 2019 to 2025
Europe held the largest share of more than 30.0% in 2018.