Smart Parking Systems Market Size Worth $14.3 Billion By 2027

The global smart parking systems market size is expected to reach USD 14.3 billion by 2027, registering a CAGR of 17.4% over the forecast period, according to a new report by Grand View Research, Inc. An anticipated upsurge in demand for these systems for transport transit and commercial applications is expected to drive the growth in the market. Rising demand for hassle-free parking coupled with the advances in technology are anticipated to propel market growth over the forecast period.

Favorable government initiatives and increasing public sector funding to roll out solutions aimed at addressing traffic congestion issues are anticipated to drive the market. Furthermore, the inclusion of sophisticated features, such as voice guidance and auto-payment options enabled through smartphone apps, are also projected to fuel the growth of the market. Various parking lots are integrating Automatic Number Plate Recognition (ANPR) systems to effectively manage vehicle at parking areas and access control systems.

Ensuring adequate parking space is turning out to be a challenge for civic administrations as the number of automobiles continues to increase. The demand for intelligent systems is rising across the globe as a result. These systems can effectively address traffic congestion issues and space-related concerns. They can also open potential opportunities for reusing commercial and municipal areas and garages, thereby reducing fuel consumption, curtailing vehicular emissions, and subsequently making the cities cleaner and greener.

However, a looming lack of funding initiatives as well as organizational awareness about the advantages associated with smart parking, particularly in underdeveloped regions, is anticipated to restrain the growth of the market over the forecast period. Moreover, the non-availability of supporting infrastructure in these regions is further hampering market growth. The high implementation cost of these systems is anticipated to act as a challenge for smart parking systems industry growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/smart-parking-system-market

Further key findings from the report suggest:

The hardware segment is expected to continue its dominance over the forecast period due to the decisive role various hardware components play in detecting the presence of the vehicles in parking slots
The signage segment is expected to grow significantly over the forecast period, as signage can help in preventing confusions and the resultant mishaps by guiding drivers in appropriate directions.
The parking guidance system uses communication, traffic monitoring, and processing and variable message sign technologies to guide vehicle drivers to available spaces
The consulting services segment is expected to witness significant growth over the forecast period. Consulting services envisage providing an analysis of the volume of traffic that needs to be managed and recommending potential solutions according to the need
Off-street segment dominated the market as it offers easy and swift pay-and-park solutions, which can distribute tickets automatically, thereby reducing congestions at entrances.
The government segment is expected to witness phenomenal growth owing to the increasing need for managing on-road vehicles and minimizing fuel emissions
The European region is anticipated to continue its dominance over the forecast period. The continued interest of automobile manufacturers in the region in developing intelligent parking systems is anticipated to drive the growth of the regional market.
On-demand valet parking coupled with the increasing demand for parking management systems at public venues,including shopping malls and sports complexes, in countries, such as Japan and China, is expected to fuel the demand for these systems in the Asia Pacific region.
The key players in the market include Amano McGann, Inc.; SKIDATA AG.; Parkmobile LLC; ParkMe, Inc.; Robert Bosch GmbH; and Nedap N.V.

Commercial Vehicles Market Size Worth $2.27 Trillion By 2025

The global commercial vehicles market size is expected to reach USD 2.27 trillion by 2025, according to a study conducted by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.1% during the forecast period. Increased urbanization, coupled with rising spending on infrastructure development in emerging economies such as China, India, and Turkey, are expected to drive the market over the forecast period. Several suppliers are shifting their focus on improving R&D capabilities while enhancing operational efficiency, which is also projected to play a pivotal role in boosting market growth.

In addition, increasing penetration of electric commercial vehicles is also anticipated to contribute toward market expansion over the coming years. Adoption of electric vehicles (EVs) is primarily driven by need to meet emission reduction standards and regulations enforced by government bodies worldwide. Commercial vehicle telematics is another trend that is gaining traction and is anticipated to have a positive impact on the market over the forecast period.

To meet changing market needs, original equipment manufacturers (OEMs) across the globe are focusing on integrating innovative technologies, such as keyless entry/ignition, engine diagnostics, mobile connectivity, and an array of novel applications that assist in vehicle control. All these efforts by OEMs are expected to significantly contribute to global market growth over the coming years.

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https://www.grandviewresearch.com/industry-analysis/commercial-vehicle-market

Further key findings from the study suggest:

Expanding e-commerce industry and availability of easy finance options are anticipated to play a key role in boosting the commercial vehicles market growth
Increasing spending on infrastructural development and efforts taken by OEMs to provide value-added services focused on enhancing in-vehicle experience are projected to drive market demand
The global market is expected to register a volume-based CAGR of over 6.0% from 2018 to 2025, primarily as a result of sustained economic activity in emerging markets
The light commercial vehicles (LCVs) segment recorded consistent growth from 2014 to 2017 and this trend is expected to continue over the forecast period due to expansion into newer markets such as Africa and Southeast Asia
The logistics segment is anticipated to witness high demand for commercial vehicles, primarily due to rise in trade and e-commerce activities across the globe
Rapid urbanization and improving road infrastructure in Asia Pacific are projected to drive the region to register a revenue-based CAGR of more than 8.0% from 2018 to 2025
The market is marked by the presence of numerous participants such as Tata Motors, Volkswagen AG, Ashok Leyland, Volvo Car Corporation, and General Motors. These players implement various inorganic and organic growth strategies to maintain their presence and withstand intense competition.

Automated Test Equipment Market Size Worth $8.68 Billion By 2027

The global automated test equipment market size is estimated to reach USD 8.68 billion by 2027, expanding at a CAGR of 3.4% over the forecast period, according to a new study conducted by Grand View Research, Inc. Increasing adoption of System on Chip (SoC) coupled with high demand for consumer electronics is anticipated to drive the growth. Growing electronic content in automotive sector and penetration of smartphones is expected to drive the market. Furthermore, the demand for Automated Test Equipment (ATE) in manufacturing industry as the test equipment save the manufacturing cost and helps in eliminating the defective devices is projected to continue fueling the market.

A torque wrench is attached to a calibration machine at the Precision Measurement Equipment Laboratory at Barksdale Air Force Base, La., Nov. 7. PMEL calibrates more than 7,500 pieces of test, measurement and diagnostic equipment for 120 different offices. Test equipment like this is used on the B-52H Stratofortress and other Air Force aircraft and support equipment. (U.S. Air Force photo/ Staff Sgt. Jason McCasland)(RELEASED)

Miniaturization has spurred demand across various semiconductor manufacturing companies. Additionally, considerable technological advancements coupled with design complexity and the need for adequate testing is expected to positively impact the growth. Developments in semiconductor manufacturing processes along iwht expansion of wireless networks in developing nations is expected to provide significant growth opportunities for the global market.

The growth of ATE market is primarily driven by semiconductor manufacturing companies which focus on cost-effective testing. Semiconductor manufacturing companies no longer consider fabrication costs as a factor for profit margin in semiconductor chip manufacturing. Semiconductor companies focus on improving their fabrication technology and look for efficient ways of testing to reduce losses due to damages. Advancements in smartphones, tablets, and SoC-based products is creating demand for greater functionality in ATE. As connected devices get smaller, more powerful, and multifaceted; they face design, application, and fabrication challenges, increasing the product demand.

Increasing design complexities along with major technological inventions such as advanced Design for Test (DFT) and adaptive testing are some of the key factors driving the automatic test equipment market. Moreover, recent innovations in Internet of Things (IoT) devices, autonomous vehicles, along with significant changes in the defense and aerospace sectors have significantly transformed the market dynamics.

Non-memory automated test equipment product segment is expected to hold significant market share over the forecast period owing to the increasing number of microcontroller-based applications and demand of the automotive sector. Revenue from IT and telecommunications sector is projected to witness significant growth in the forthcoming years. Asia Pacific accounted for the largest market share in 2019 and is expected to register the fastest growth over the forecast period, owing to the rising number of semiconductor industries in the region. Key market players include Aemulus Holdings Bhd (“Aemulus”); Chroma ATE Inc.; and Teradyne Inc.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automated-test-equipment-market

Further key findings from the report suggest:

The growth of automated test equipment market is driven by the significant use of the test equipment in automotive and semiconductor industry
In the product segment, Non-memory ATE held the largest market share in 2019 and is estimated to witness the second fastest growth over the forecast period owing to the expansion of consumer electronics, growing number of microcontroller-based application, and other such factors
In the vertical segment, IT and telecommunication is estimated to continue holding the largest market share in the forthcoming years, owing to the increased focus on effective communication
The automotive segment is expected to witness considerable growth over the forecast period owing to the increasing integration of the electronic devices in the automobile industry
North America is estimated to witness substantial growth over the forecast period owing to the high investment in aerospace and defense couple with technological innovations
Key market players include Aemulus Holdings Bhd (“Aemulus”); Chroma ATE Inc.; Aeroflex Inc. (a subsidiary of Cobham plc); Astronics Corporation; Advantest Corporation; LTX-Credence Corporation (Xcerra Corporation); Teradyne Inc.; STAr Technologies Inc. (a subsidiary of Innotech Corporation); Tesec Corporation; Roos Instruments, Inc.; Marvin Test Solutions Inc.; and Danaher Corporation. Teradyne Inc.; LTX-Credence Corporation (Xcerra Corporation); and Advantest Corporation dominated majority of global market share

Wound Care Market Size Worth $25.1 Billion By 2026

The global wound care market size is expected to reach USD 25.1 billion by 2026, according to a new report by Grand View Research, Inc., registering a 3.9% CAGR during the forecast period. Increase in prevalence of chronic diseases globally, rising number of ambulatory surgical centers (ASCs), and growing geriatric population are key factors driving the global market.

ASCs offer a variety of services such as surgical assistance, diagnostics, and preventive procedures. Surgeries for pain management, urology, orthopedics, restorative, and gastro intestinal (GI) conditions are also performed in ambulatory surgery centers. Earlier, ASCs were only capable of performing GI-related minor surgeries; however, with increase in number of minimally invasive surgical procedures, services offered by ambulatory surgical centers have expanded and grown exponentially.

According to the U.S. Department of Health and Human Services (HHS) data records of 2014, there were 17.2 million hospital visits. These included invasive, therapeutic surgeries, and ambulatory surgeries. Around 9.94 million (57.8%) of these surgeries occurred in hospital-owned ambulatory surgery settings and the remaining 7.26 million surgeries (42.2%) were conducted in hospitals. ASCs are increasing in number and thus offer cost-effective services. In addition, favorable reimbursement coverages are being provided with regard to services provided by ASCs. The chances of contracting post-surgical, hospital-related infections are also reduced. ASCs provide specific instructions to patients regarding post-surgical homecare. Thus, with an increase in the number of ASCs and number of surgical procedures, demand for wound care is expected to increase.

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

Further key findings from the report suggest:

In terms of revenue, the advanced dressing segment held the largest share in 2018 owing to increasing cases of chronic diseases and rising adoption of advanced wound care products across the globe
The home healthcare segment is expected to witness the fastest growth over the forecast period due to increasing geriatric population and rising adoption of negative pressure wound therapy
On the basis of application, the acute segment held the largest wound care market share in 2018 owing to rising number of surgeries and burn cases across the globe
Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing number of surgeries and rising cases of burns in this region
Prominent key players present in the wound care market include Smith and Nephew; Molnlycke Health Care AB; and Baxter International Inc.

Hybrid Imaging Market Size Worth $9.8 Billion By 2026

The global hybrid imaging market size is expected to reach USD 9.8 billion by 2026, according to a new report by Grand View Research, Inc., registering a 4.5% CAGR over the forecast period. Increasing demand for accurate diagnostic techniques for cancer and cardiac disorders is expected to drive the market. Rising government initiatives for creating awareness regarding multimodal imaging devices are also expected to contribute toward market growth.

Increasing installation of such devices in research centers and institutions to enhance diagnostics in the field of oncology, cardiology, neurology, and others is expected to boost market growth. Leading players in the market are showcasing various multimodal imaging devices at medical conferences to increase their product reach. However, high cost and complications associated with these devices is expected to impede market growth during the forecast period.

Hybrid imaging devices require skilled professionals to understand the data collected by these combined devices. Therefore, various training programmes are conducted by several non-profit and government funded organizations to increase the adoption of hybrid imaging devices for the diagnosis of a disease.

North America dominated the hybrid/multimodal imaging market in 2018 and is expected to grow at a significant rate during the forecast period. The growth observed in this region is largely due to presence of global players and increasing adoption of advanced equipment such as hybrid imaging devices. Moreover, increasing awareness regarding nuclear medicine and molecular diagnostics in the region is expected to contribute toward the growth in this region.

Asia Pacific is expected register the strongest growth over the forecast period. This can be primarily attributed to growing usage of advanced devices such as PET/CT systems in radiology departments across emerging economies. Thriving medical tourism in numerous countries has piqued the interest of global market players, who are looking to invest in the development and launch of advanced software in the region. The Europe market is fueled by ongoing efforts by various non-profit organizations in conducting educational and training programs for scientists, physicians, technologists, physicists, radiographers, and others in the field.

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https://www.grandviewresearch.com/industry-analysis/hybrid-imaging-market

Further key findings from the report suggest:

PET/CT systems held the largest share in 2018 based on type, and the segment is expected to grow at a significant pace due to increasing development and installation of these devices in various end users such as hospitals and diagnostic centers
SPET/CT systems segment in hybrid imaging market will exhibit the fastest growth rate during the forecast period. Data captured by SPET/CT helps in understanding the detailed morphology and pathogenesis of a disease, thereby enhancing the quality of diagnostic output
In 2018, the oncology segment held the dominant share of hybrid imaging systems market by application, largely due to increasing number of cancer cases and growing awareness for cancer diagnosis
The cardiology segment is expected to grow at the fastest pace during the forecast period. Cardiac hybrid imaging helps in accurately capturing morphological and functional information in a single setting, thereby easing the diagnosis of cardiac disorders
Hospitals held the largest market share in 2018 on the basis of end use, mainly due to higher installation of technologically advanced devices for early diagnosis and treatment of a disease
Geographically, Asia Pacific is expected to register the fastest growth rate during the forecast period due to increasing number of radiology departments in the region and launch of advanced software by leading players.

Continuous Peripheral Nerve Block Catheters Market Worth $292.8 Million By 2025

The global continuous peripheral nerve block (cPNB) catheters market is expected to reach USD 292.8 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.2% during the forecast period. Growing orthopedic surgery volumes resulting from the rising prevalence of osteoarthritis and increasing preference for ambulatory surgical centers are the key growth stimulants for the cPNB catheters market. According to the Healthcare Cost and Utilization Project (HCUP), over 546,000 total hip arthroplasty and 789,500 total knee arthroplasty procedures were performed in the U.S. in 2014. Of these, almost 70.0% of hip replacement operations are performed to relieve symptoms of osteoarthritis. This shows the potential demand for these devices in the coming years.

The rate of ambulatory surgeries is escalating due to a growing number of ambulatory surgical centers (ASCs), shortened recovery time, and continued improvements in regional anesthesia techniques. Costs of surgeries in ASC settings are approximately 60.0% less in comparison to those performed in hospitals. The recent inclusion of ambulatory surgeries for reimbursement of knee replacement surgeries by the Centers for Medicare & Medicaid Services in the U.S., along with the inherent benefits of cPNB usage, is likely to boost the demand for these catheters in the coming years.

On the competitive front, the leading players in this space are Pajunk GmbH and B. Braun Melsungen AG. Companies with wider distributor reach, larger product portfolio, and advanced technologies are seen to lead the space. Some other key players are Teleflex, Halyard, and Vygon, which are projected to have a stronger market presence by 2025. Less prominent players trailing behind include Ace Medical, Temena, Epimed International, and others.

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https://www.grandviewresearch.com/industry-analysis/continuous-peripheral-nerve-block-cpnb-catheters-market

Further key findings from the study suggest:

The ultrasound segment, based on the insertion technique, held the dominant share of 48.2% owing to associated advantages including improved block quality, faster and longer block duration, and a reduced dose of local anesthetic
Lower extremity surgeries represented the most prominent position in the market due to the increasing number of hip and knee replacement surgeries involving the use of cPNB catheters
The ambulatory surgical centers segment is estimated to exhibit a noteworthy CAGR during the forecast period. This can be attributed to related benefits such as shorter waiting list, quick discharge, reduced overall procedural cost, and treatment of a higher number of patients
Hospitals held 58.5% of the cPNB catheters market
Europe is anticipated to register a CAGR of 6.4% during the forecast period owing to the high number of surgeries performed in this region, which involve cPNB usage to manage postoperative pain.

Payment Security Market Worth $43.76 Billion By 2025

The global payment security market size is expected to reach USD 43.76 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 12.3% during the forecast period. Rising need for PCI DSS (payment card industry data security standard) compliance and adoption of digital payment mode by consumers are likely to stoke the growth of the market. The payments industry is going through a movement of infrastructure transformation, which is essential to compete efficiently with non-bank trendsetters and address progressing customer requirements.

Over the past few years, major economies have modernized their payment infrastructures and many others are scheduling to upgrade. Digital payments aid merchants in maintaining continuous compliance with PCI DSS, which is further anticipated to bolster the growth of the payment security market. In March 2015, Worldpay noted over 133,000 fraudulent transactions reported, which interpreted stolen card details being used every 20 seconds. Thus, payment security providers help its customer’s systems to protect itself from threats and aim to provide secure businesses by getting them to comply with PCI DSS. Therefore, the payment security market is estimated to be driven by the adoption of PCI DSS compliance.

Fraud detection and prevention solutions hold the largest share in the overall market. These solutions provide various fraud analytics solutions such as big data and predictive analytics. Big data and predictive analytics helps to detect and avoid frauds.

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

Further key findings from the report suggest:

The global payment security market had a valuation of USD 15.79 billion in 2017
Encryption platform emerged as the fastest growing segment over the forecast period
Large enterprises represented the leading segment in terms of organization in 2017 and are projected to generate revenue over USD 29.80 billion by 2025
The education market is poised to witness the highest CAGR of 13.4% over the forecast period
North America was the leading revenue contributor in 2017. Rising number of startups in the retail industry and presence of prominent payment security providers in the region is expected to drive the North America payment security market
Key players include Braintree, CyberSource, Ingenico, and Index among others. These players commanded the leading revenue share in the market in 2017.

Contrast Media Market Size Worth $6.9 Billion By 2027

The global contrast media market size is expected to reach USD 6.9 billion by 2027, exhibiting a CAGR of 3.6% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing burden of chronic diseases is driving the demand for diagnostic imaging procedures which are anticipated to fuel the contrast agents market growth.

The imaging tests such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), and x-rays have become an inevitable part of diagnosis for most of the diseases. The large-scale penetration of imaging technology in healthcare has increased the demand for contrast media. Newer contrast agents are constantly being discovered and investigated. Also, the safety of contrast agents for clinical use is under strict scrutiny.

The rapid rise in the use of medical imaging during the last few decades has resulted in a substantial increase in the use of radiologic contrast media. Half of the around 76.0 million computed tomographic and 34.0 million magnetic resonance imaging examinations performed annually include the use of intravenous contrast agents.

Diagnostic imaging modalities are being increasingly used owing to advancements in the underlying technology, ranging from equipment to administration technology. Innovative products such as syringeless injectors help achieve greater accuracy in delivering the right dose of contrast agents as well as reduce wastage. These injectors enable shorter examination time, leading to increased patient throughput. In 2016, the first syringeless injector was launched by Bracco Diagnostics in U.S.for multi-patient use to increase the number of scans performed in a day.

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https://www.grandviewresearch.com/industry-analysis/contrast-media-contrast-agents-market

Further Key Findings from the Study Suggest:

Iodinated contrast media was the largest segment in 2019 and is anticipated to remain dominant over the forecast period as the products have excellent radio-opacity and low toxicity
X-ray/ CT was the largest modality segment in 2019, in terms of revenue share, owing to wide acceptance and cost-efficiency of the techniques
Cardiovascular diseases is projected to witness the fastest growth over the forecast period due to label extensions for ultrasound and X-ray/ CT contrast agents in U.S. For instance, in 2016, the U.S. FDA approved Lumason for use in liver ultrasonography
North America dominated the contrast media/contrast agents market with the largest revenue share of 44.3% in 2019 owing to the presence of well-established healthcare infrastructure and availability of advanced technology
Some of the key players operating in the market are Bayer AG; General Electric Company; Guerbet; Lantheus Medical Imaging, Inc.; Bracco Diagnostic, Inc.; Trivitron Healthcare; nano Therapeutics Pvt. Ltd.; and iMAX

Payment Security Market Worth $43.76 Billion By 2025

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

Further key findings from the report suggest:

The global payment security market had a valuation of USD 15.79 billion in 2017
Encryption platform emerged as the fastest growing segment over the forecast period
Large enterprises represented the leading segment in terms of organization in 2017 and are projected to generate revenue over USD 29.80 billion by 2025
The education market is poised to witness the highest CAGR of 13.4% over the forecast period
North America was the leading revenue contributor in 2017. Rising number of startups in the retail industry and presence of prominent payment security providers in the region is expected to drive the North America payment security market
Key players include Braintree, CyberSource, Ingenico, and Index among others. These players commanded the leading revenue share in the market in 2017.

Wound Care Market Size Worth $25.1 Billion By 2026

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

Further key findings from the report suggest:

In terms of revenue, the advanced dressing segment held the largest share in 2018 owing to increasing cases of chronic diseases and rising adoption of advanced wound care products across the globe
The home healthcare segment is expected to witness the fastest growth over the forecast period due to increasing geriatric population and rising adoption of negative pressure wound therapy
On the basis of application, the acute segment held the largest wound care market share in 2018 owing to rising number of surgeries and burn cases across the globe
Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing number of surgeries and rising cases of burns in this region
Prominent key players present in the wound care market include Smith and Nephew; Molnlycke Health Care AB; and Baxter International Inc.