Contract Catering Services Market

Top 5 Industries Served in the Contract Catering Services Market

The shift of focus on wellness and diet and the increasing interrelation of nutrition and productivity is one of the primary factors attributing to the growth of the global contract catering services market. The growing demand from segments such as hospitals, education, senior care, offshore, and defense will create lucrative opportunities in the global market. The growing trend of hospitality and fine dining as a client relationship and business development tool for entertaining guests across various organizations will boost revenues in the contract catering services market. The development of new business models that offers on-demand online system and ad-hoc workplace food will revolutionize this service industry in the global market. The foodservice providers are providing first-class table service, exotic ingredients, flexing of offerings, and inventive ways to transform the global market. Furthermore, value additions such as employee support, training, and guaranteed service-level agreements will augment the development of the service market.

The global contract catering market is projected to reach revenues of more than $264 billion by 2023, growing at a CAGR of approximately 5% during 2017-2023.

The top industries served in the contract catering services market are discussed in detail below:

  • B&I

The B&I sector include companies across the board from products to services. The strong connection with food that helps improve alertness, productivity, concentration, and problem-solving skills is a major contributing factor in this segment in the global contract catering services market. The increasing level of competition is leading to the appointment of high street and retail vendors in the B&I industry. The caterers are altering interiors and offering different menu concepts which include healthy meals, fresh produce, and quality ingredients to attract a maximum number of consumers in this segment. Contract caterers are also emulating high street pop-ups and offering their versions of street food in the global contract catering services market. For instance, Sodexo offered build-your-own options at BMS to avoid repetitive menus and allow customization.

  • Education

The market is witnessing a paradigm shift in the significance of food and nutrition on the student’s performance and development. Various schools, universities, and colleges are hiring caterers to define meal times and their constituents thereby, propelling the growth of the global contract catering services market. The foodservice operators are offering a plethora of well-rounded services that can take care of everything from fostering social skills to inculcating healthy food habits in ways that are of interest to the customer base. The service providers are providing cookery lessons to increase awareness about food, sourcing ingredients, cooking, and healthy food fostering a better understanding of diets; such value-added services will propel the development of the education sector in the global contract catering services market.

  • Healthcare

The healthcare sector focuses on nutrition which is vital for a patient’s fast recovery from illness. The contract caterers in this segment are involved in providing the best service to patients, staffs, and visitors global contract catering services market. The services offered by operators in the healthcare industry includes meals that are characterized by high calories, low fat/low sugar, meals with certain excluded ingredients, easily digestible, and chewable properties. The availability of high nutrient food menus, restaurant-style menus, grab and go concepts, room service, on-demand dining, vending options, and hybrid models will transform the global contract catering services market during the forecast period. For instance, Oakville Trafalgar Memorial Hospital offered a “Call to Order” room service food delivery model with a wide range of therapeutic menus to its child, maternal, and medical/surgical units.

  • Senior Care

The rising demand for senior care homes and stringent standards heavily scrutinized by regulatory bodies and government organization will propel the growth of the global contract catering services market. The increasing availability of remote health monitoring is propelling the demand for carefully crafted meals as per their medical requirements, delivered to customers’ homes. Moreover, foodservice operators are offering finger foods rather than meals which are kept near the residents, so the probability of eating it is more. Such initiatives will create a positive experience, help in to heighten the efficiency of food intake, and be a part of the larger customer journey. The focus on crafting beautiful plates and other value-added services will augment the growth of the global contract catering services market.

  • Others

Government organizations such as prisons and defense sectors are rife with large workforces and are thus catered through canteens and messes offering a diverse range of diets considering it cater at a large scale. The vendors are offering a healthy balanced diet to meet with personnel’s fitness requirements in the global contract catering services market. Foodservice operators are dealing with this by streamlining food distribution using large-scale distributors, implementing waste-reduction measures and sourcing products from private label distributors in the global market. The scale of sport and entertainment events are enlarging driving requirements for a range of food outlets. Contract caterers often offer foodservices that are seasonal as retail style offerings for athletes, performers, and VIP guests. The introduction of these unique services will augment the development of the global contract catering services market during the forecast period.

The leading vendors in the global contract catering services market are:

  • Compass Group
  • Sodexo
  • Elior Group
  • Aramark Services
  • WSH

Read: Contract Catering Market - Global Outlook and Forecast 2018-2023Read: Contract Catering Market in US - Industry Outlook and Forecast 2018-2023

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Hair Wigs Market Growth and Market Research report

Human Hair Products Gain Prominence in the Global Hair Wigs Market

Wigs are extensively used for covering bald patched over the head and are available in various lengths including small, medium, and long hair for both men and women. The products available in the hair wigs market are either made of human hair or synthetic hair. In terms of wear type products are categorized into a monofilament, lace front, and hair pieces. The wig caps provide a protective covering between the scalp or natural hair and the wig. The wig cap also helps to absorb the natural oils excreted from the scalp and protects the wig from such oils. The vendors are offering various kinds of items to gain a larger market share and attract new consumers.

The global hair wigs market is estimated to reach revenues of around $4 billion by 2023, growing at a CAGR more than 7% during 2017-2023.

The global hair wigs market by different products are discussed in detail below:

·         Wigs by End-Use

The increasing number of people suffering from traction alopecia, leading to hair loss through the hairline and center part of the head is one of the factors augmenting the growth of the global market. The hair wigs market was dominated by women up until 2015 and is witnessing the entry of males, mainly of European and African descent. The male populace across the world who have suffered from hair loss is starting to adopt wigs such as toupees and hair pieces to hide the bald spot.

Leisure

The global hair wigs market by leisure products include multicolored and theme-based wigs for occasions like concerts, games, Halloween, and theme parties.

Beautification

The global hair wigs market by beautification products include wigs of different hairstyle which are worn to change the appearance and hairstyle in the likes of small or long hair.

Functional

The global hair wigs market by functional products include the wigs that are used by men or women to cover hair problems like alopecia, thinning of hair, and grey hair.

·         Wigs by Cap Type

Lace

Lace wigs have a thin long lace at the front. The lace is positioned at the starting of wig’s hairline and contours around the front portion of wig cap and generally spans from ear to ear. The lace is used to keep the wig positioned securely over the user’s head with the help of double-sided adhesive tapes. The lace front wigs need some caring while wearing them as the lace, if not secure, can make the wig move from its position making the frontal and side hair of the user visible. As the lace is only at the frontal region, it is not possible to freely part the hair. The desired styles of these lace products in the global hair wigs market includes ponytails, braids, twists, and buns.

Monofilament

These wigs are made buying a sewing or tying hair sections hair to the upper portion of the cap which is a monofilament. The monofilament is a very sheer piece of mesh upon which the hair is sewn or tied. These wigs have an appearance of natural hair growing from the scalp. The monofilament wigs have more density than lace frontal or full lace wigs. These wigs are considered to most resemble the natural look of the hair, thereby boosting sales in the global hair wigs market. These wigs are more desirable for people who have suffered from a high degree of hair loss, which can be a result of treatments such as chemo or radiation therapy.

·         Wigs by Hair Type

Human-hair Wigs

The wigs made from human hair are designed and used to provide a more natural look for the user. They are also the most convenient way for quickly changing the look on one’s hairstyle and to cleverly hide hair loss or baldness. The entertainment industry is the second largest consumer of products made of human hair in the global hair wigs market. Various theaters have in-house hair and wig designers and have always had requirements of high-quality human hair wigs for the characters of the play. Also, a large number of celebrities are using wigs for photoshoots, music videos, and award functions. The increasing demand for their styles among the consumers and celebrity fans is propelling the growth in the global hair wigs market.

Synthetic-hair Wigs

The widespread use of synthetic wigs for models in fashion shows is propelling the growth of the global hair wigs market. The synthetic wigs were less expensive than wigs made of human hair and it was easy to design them in desired hairstyles. The rapid changes in fashion and a new rage in the adoption of clothes and accessories made of man-made fibers is resulting the boom in people choosing synthetic over natural in almost all range of consumer products in the market. The invention of washable, nylon and acrylic wigs in Hong Kong led to the influx of mass-produced economic wigs in the western market. Various companies are focusing on manufacturing wigs made of a heat-resistant polymer which allows them to be restyled as per consumer needs in the global hair wigs market.

The leading vendors in the global hair wigs market are:

  • Godrej
  • Great Lengths
  • Evergreen Products Group Limited

Read: Hair Wigs and Extension Market - Global Outlook and Forecast 2018-2023

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Heart Valve Replacement Devices Market

Heart Valve Replacement Devices Dominate 80% of Global Market Share

The increase in aging population and presence of a large pool of patient population with heart valve diseases and the development and commercialization of novel replacement devices are some of the factors attributing to the growth of the global heart valve replacement devices market. The growing popularity of transcatheter and tissue heart valve devices and the increasing awareness regarding the availability of new treatment options will augment the development of the global market. The increasing availability of replacement procedures such as TAVR and next-generation prosthetic tissue heart valves will help vendors gain a larger market share over the next few years. Replacement devices are the best course of treatment option for patients suffering from aortic stenosis, mitral stenosis, and pulmonary valve stenosis. Various leading vendors are investing in R&D to launch new and innovative products that are safer and more efficient devices to attract new consumers into the global market.

The global heart valve replacement devices market is expected to reach values of more than $10 billion by 2023, growing at a CAGR of approximately 18% during 2017-2023.

The three different types of heart valve replacement devices available in the market are discussed below:

·         Transcatheter Heart Valves

Transcatheter heart valves devices market is the fastest growing segment and is expected to dominate the entire global market during the forecast period. The superior safety and efficiency of these procedures are augmenting the increasing adoption of transcatheter devices in the global market. Developed countries such as the US, Germany, Japan, France, the UK, Italy, and Spain are the largest end-users of these devices in the global heart valve replacement devices market. TAVR is one of a most used transcatheter-based process for treating aortic stenosis patients who are at high-risk for surgical valve replacement procedures. Various medical companies are focusing on aggressive development plans and R&D activities to launch new devices in the global heart valve replacement devices market. For instance, JenaValve Technology is one of the emerging companies making waves in the TAVR space. The transcatheter heart valves devices market is projected to grow at a CAGR of more than 20% during 2017-2023.

·         Tissue Heart Valves Market

The increased durability of tissue heart valves and its suitability for implantation in younger heart valve disease patients is one of the primary factors attributing to the growth of this segment in the global heart valve replacement devices market. The rapid shift and increasing preferences for prosthetic tissue valves are expected to revolutionize the market over the next few years. The top companies are focusing on improvements and advanced replacement technologies to gain a larger group of consumers in the market. The introduction of mitral tissue valve replacement procedures is boosting the adoption of tissue devices in the heart valve replacement devices market. The tissue heart valves market is further segmented into stented and stentless valves in the global heart valve replacement devices market. Edwards Lifesciences, Medtronic, and Abbott are the key players operating in the tissue devices sector in the market. The vendors are focusing on offering a diverse range of products to gain a larger global market share during the forecast period. The tissue heart valve devices market is estimated to grow at a CAGR of around 12% during the forecast period.

·         Mechanical Heart Valves Market

The steady demand for mechanical heart valve devices across developing and emerging countries is propelling the growth of this segment in the global market. Mechanical heart valve devices are relatively less expensive and offer longer life expectancy. The healthcare professionals prefer mechanical heart valves for younger patients with severe heart conditions. These mechanical replacement devices do not require re-operation and have very less probability of requiring further operations on the valve ensuring that it has higher longevity compared to any other devices available in the global heart valve replacement devices market. The prominent players in the market are focusing on developing advanced mechanical heart valves to sustain the competition level in the market. For instance, CryoLife’s On-X aortic prosthetic heart valve is the only mechanical heart valve with the US FDA and CE Mark approval and is clinically proven to be safer with less warfarin usage. The development of these devices will augment the transformation of the global heart valve replacement devices market. The mechanical heart valves market is anticipated to grow at a CAGR of approximately 4% over the next few years.

The leading vendors operating in the global heart valve replacement devices market are

  • Edwards Lifesciences
  • Abbott
  • LivaNova
  • Medtronic
  • Boston Scientific

Read: Heart Valve Repair and Replacement Devices Market - Global Outlook and Forecast 2018-2023

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Board Games Market Analysis

Tabletop Board Games Tops both the Global and European Market

Social interactions and communications skills are the benefits of playing board games and consumers are looking for different types of these products to develop their skills. The growing popularity of board games cafes and bars are creating an exponential demand for these products in the market. The increasing availability of various types of strategy and war games, fantasy games, educational games, and sports games will help vendors boost their revenues in the global market. The popularity of well-designed games that reinforce and apply learning enable consumers to develop their problem-solving skills and critical thinking skills. These tactical games are leading the European board games market. The rise in the number of dual-income households and economic development across various emerging nations will create lucrative opportunities for key players in the global market. The companies are also leveraging e-commerce and online retail stores to enhance the marketing and visibility of these products in the market. The global board games market is expected to grow at a CAGR of more than 9% during 2017-2023.

The different types of board games available in the market are discussed in detail below:

1.    Tabletop Board Games Market

Tabletop games are the most popular and largest segment that dominates the global market. The growing popularity of strategy-based games among grade-schoolers, teenagers, and adults is propelling the growth of this market segment. Some of the highest sold tabletop games are Pandemic, Scythe, Sagrada, Azul, Gloomhaven, Near and Far, Settlers of Catan, and Warhammer Underworlds: Shadespire in 2017. The increase in problem-solving attitude and critical thinking ability among gamers are one of the primary factors attributing to the growth of this segment in the global market. Europe and APAC are expected to witness the growing demand of this segment throughout 2023.

2.    Collectible Card Game Market

The growing popularity of collectible card games such as Magic: The Gathering and Pokémon are augmenting the growth of this segment in the global market. The vendors are launching a digital version of these collectible games to gain a larger market share and attract new consumers. The digital or online version of collectible card games allows players to collect cards online, combine them into decks, and play that deck on against opponents. North America is the largest revenue generators in this segment. In APAC countries such as India, China, and Japan, grade-schoolers are the largest end-users and love to collect cards of WWE and famous cartoons such as Naruto of Japan. The digitalization of collectible cards is expected to affect the growth of this segment in the market during the forecast period.

3.    Card & Dice Games Market

Turkey, France, and other emerging economies of Eastern and Central Europe are the highest consumers of card and dice games in the European market. Card and dice board games are the second most popular games in the market. Yahtzee, Bunco, Shut the Box, Lair’s Dice, Yu-Gi-Oh, Uno, Spades, Poker, and Taboo are the widely available and player card and dice games in the market. The dynamic change social-cultural habits and increasing in the joint family model across countries such as Turkey, Poland, and Ukraine will boost the growth of the European market during the forecast period. The card and dice games segment are gaining traction among grade schoolers for the entertainment purpose.

4.    Miniature Games Market

The popularity of pop-culture referenced TV series such The Big Bang Theory and fascination of superheroes and sci-fi programs such as Star Wars are primary factors attributing to the growth of the miniature board games segment in the market. These TV series and movies are positively affecting the sale of collectible miniature games such as Dungeons and Dragons in the global market. The increasing popularity of cartoon figures through multi-media channels is increasing the demand for the miniature games market. The increasing availability of sci-fi and adventure themes games will augment the development of this market segment over the next few years. Regions such as MEA, Latin America, Turkey, and the UK contribute to the highest revenues in this market segment.

5.    RPG Board Games Market

The increasing nerd-culture based TV shows such as Freaks and Geeks, Futurama, Big Bang Theory, and the IT Crowd is driving the demand for RPG board games in the global market. The complexity and lengthy rules are some of the factors attributing to the growth of this segment in the global market. These games are often categorized as hobby games and have a very loyal end-user base in the global market. RPG games offer human interaction and creativity better than any other board games available in the market. The growing demand and ease of publication are some of the factors that will drive the demand for these games in the global market during the forecast.

The leading vendors operating in the market are:

  • Asmodée Éditions (Group)
  • Hasbro
  • Mattel
  • Ravensburger

Read: Board Games Market - Global Outlook and Forecast 2018-2023Read: Board Games Market in Europe - Industry Outlook and Forecast 2018-2023

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automotive exterior lighting system market 2023

5 Key Vendors Operating in the Automotive Exterior Lighting System Market

The growing importance of vehicular safety and stringent norms established by the government agencies across the world is augmenting the growth of the global automotive exterior lighting system market. The development of innovative products such as laser headlamps and OLED lights will transform the automotive industry over the next few years. Major structural changes such as engine downsizing, electrification of automotive mechanism, emission regulations, connectivity, and safety are primarily driven by the safety norms established by regulatory bodies across the global market. The top vendors are focusing on developing advanced headlamps, rear lamps, fog lamps, daytime running lights, center high-mount stop light (CHMSL), turn indicators, rear signal lamps, and license plate lamps to gain a larger market share and attract a maximum number of consumers. With the growing demand for electric and hybrid vehicles, energy saving technology will gain prominence in the global market. The global automotive exterior lighting system market is projected to grow at a CAGR of approximately 6% during 2017-2023.

The top 5 vendors functioning in the global automotive exterior lighting system market are discussed below:

1.    KOITO MANUFACTURING

KOITO MANUFACTURING is one of the oldest companies in the global automotive exterior lighting system market involved in the manufacturing of lighting systems. The has R&D centers in China, Japan, North America, Europe, and Asia which works towards introducing the advanced technologies in their latest product offerings. KOITO is developing products to increase the use of LED headlamps. It developed LED Compact Bi-function which consists of one LED light source to switch between high-beam and low-beam. The company is leveraging its decades of experience to develop innovative lamps such as triple-eyed bi-function LED headlamp. Such innovations will augment the development of the global automotive exterior lighting system market.

Key Strategy: KOITO MANUFACTURING is focusing on the development of cutting-edge technologies that addressed the consumer needs in advance to gain a larger global automotive exterior lighting system market share.

2.    Magneti Marelli

Magneti Marelli company offers low to high-end exterior lighting under the automotive lighting wing headquartered in Reutlingen, Germany. In 2016, the company received “Top Innovator” award in German Midsized Companies-Summit. In 2016, Magneti Marelli Automotive Lighting Foshan was awarded by “FCA APAC the Best supplier of the year” in the category Body & raw materials. Such innovations are boosting the company’s revenues in the global automotive exterior lighting system market.

Key Strategy: Magneti Marelli is planning to develop integrated information communication and safety systems to reduce the number of accidents by keeping the driver and vehicle alert of the surroundings in the global automotive exterior lighting system market.

3.    Valeo

Valeo is active in automotive electronics and one of the key products in this segment include its range of visibility systems which consist of Lighting Systems and Wiper Systems. The company offers interior lighting, exterior lighting, and electronic wiper and blade-integrated washer systems in the global automotive exterior lighting system market. In 2017, Valeo acquired Ichikoh, becoming the world’s number one in automotive lighting. The company offers full intelligent lighting system architecture comprising headlamps, control units, cameras, and embedded software in the global automotive exterior lighting system market.

Key Strategy: Valeo plans to leverage its R&D capabilities to introduce new products in the global automotive exterior lighting system market.

4.    Hella

Hella operates majorly via three business units, among which the automotive business unit is divided into automotive lighting and automotive electronics divisions. The automotive lighting division develops high-resolution lighting system and works on the digitization of automotive lighting technology in the global automotive exterior lighting system market.  The business activities of the company are divided into four segments such as automotive lighting, automotive electronics, aftermarket, and special applications.

Key Strategy: Hella is focusing on the expansion of manufacturing capabilities to better serve the demand in the global automotive exterior lighting system market.

5.    OSRAM

OSRAM is one of the biggest lighting manufacturers with a vast experience in the global automotive exterior lighting system market. The company is continuously innovating in the field of automotive and specialty, to semiconductors, luminaries, lighting systems, and solutions. They have a vast product portfolio ranging from semiconductor-based technologies, infrared and lasers, networked intelligent lighting solutions in the global automotive exterior lighting system market.

Key Strategy: OSRAM is focusing on digitalization to generate new businesses for products in the global automotive exterior lighting system market.

The other prominent players in the global automotive exterior lighting system market are Stanley Electric, Magna International, Federal-Mogul, Johnson Electric Holdings, Bosch, Infineon Technologies, Panasonic Corporation, Samvardhana Motherson Group, Flex-N-Gate, Grupo Antolin, Flextronics International, Gentex Corporation, and Phoenix Lamps Division.

Read: Automotive Exterior Lighting System Market - Global Outlook and Forecast 2018-2023

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Global Speaker Market Analysis and Forecast 2023

Handmade Craft Spirits are Gaining Prominence in the US Market

Craft spirits and distillers are gaining immense popularity amongst the consumers across markets in the globe. The US is becoming one of the largest producers and markets for craft breweries. The rapid change in consumer palates, jaded existing products, ease in production, ease in regulations, and intensification of social drinking are some of the primary factors attributing to the growth of the craft spirits market in the US. The growing demand for premium and artisanal craft beers with distinctive flavors is encouraging vendors to launch new products in the US market. The luring mix of handmade craftsmanship, tons of culture, and locavore ethics are the becoming a signature criterion of product distinction of many breweries in the US market. Craft absinthe, liqueur, Amaro, and aquavit are expected to gain immense traction in the US market during the forecast period. The US craft spirit market is projected to generate revenues of over $20 billion by 2023, growing at a CAGR of more than 32% during 2018-2023.

The different types of craft spirits available in the US market are discussed in detail below:

·         Craft Whiskey

Bourbon, single malt scotch, blended scotch, and rye whiskey are some of the most common whiskey products in the US craft spirits market. The growing popularity of darker liquors, artisanal bourbons, and ryes are encouraging various vendors to launch new flavor profiles in the US market. With consumer awareness shooting up, whiskey producers are being more open about where their ingredients come from. Furthermore, a lot of new craft distilleries start off sourcing whiskey while they sit on their whiskey that is aging. For instance, Hillrock Estate and High West have taken this approach. Such initiatives will boost the demand for these products in the US craft spirits market helping it grow at a CAGR of around 32% during the forecast period.

·         Craft Gin

The millennials experiment with varying flavors, taste profiles, and prices are one of the primary factors attributing to the growth of craft gins in the US craft spirits market. Gins with unique and wider array of flavors have recently come out with citrus, regional fruit, herbs and spices, and floral ingredients, giving consumers new ways of accessibility and a broader variety of styles to try. The more well-defined flavor and complexity of craft gins will enable vendors to draw more consumers to the global market. The use of the products in classics and cocktails such as Martinez, gin and tonic, and a martini will boost demand for gin-based drinks in the US craft spirits market. The craft gin segment is expected to grow at a CAGR of over 32% by 2023.

·         Craft Vodka

The increasing focus on creating unique craft vodka styles with local ingredients is boosting the demand for these beverages in the US craft spirits market. The straightforward and easy method of distilling vodka and it does not require aging is encouraging large of producers to brew craft vodka in the market. The rising popularity of affordable and organic vodkas is another factor boosting revenues in this segment in the US market. Vodkas such as Square One and Tito’s thus had tremendous success in the US craft spirits market. The entrant of vendors from international markets will add to the growth of this segment in the US market. The craft vodka segment is projected to grow at a CAGR of around 28% over the next few years.

·         Craft Brandy

The revival of classic cocktails such as Sidecars, Sazeracs, and the Old Fashioned is contributing to the growth of the craft brandy in the US craft spirits market. With brandy offering up a whole lot of new styles due to the range of variables that lend to the possibility, the potential for the drink is humongous in the market during the forecast period. The adoption of the traditional European method and practices with new age American distilling traditions like aging brandy in the Bourbon barrels of American oak is gaining traction in the US market. The craft brandy segment is anticipated to grow at a CAGR of approximately 41% over the next few years.

·         Craft Rum

The high versatility and quality, which given the rapidly intensifying mixology scene, provides an edge and a huge opportunity of craft rum producers in the US craft spirits market. The focus on revitalizing classics such as the Mai Tai and the Daiquiri will create the demand for these spirits in the US market. The vendors are trying to elevate the humble rum by double-cask finishing and aging the drink in sherry, cognac or port barrels after resting it in oak ones to improve the flavor complexity of this spirit in the US market. The predominant trend in rum is premiumizing with high-end rums and introducing spiced variants in the market. The craft rum segment is anticipated to grow at a CAGR of around 34% during the forecast period.

·         Craft Liqueurs

The growing thirst for lower ABV drinks and demand for differentiation is fueling the demand for craft liqueurs in the US craft spirits market. Liqueurs that have natural ingredients and techniques of production, as opposed to chemicals, are thus finding an audience amongst bartenders as they are shelf-stable, consistent, and measurable. New regulations have allowed buying of cocktail fixings at the farmers’ market in certain states. The growing popularity of unusual flavors that have a veggie base such as yuzu, bergamot, and rhubarb will transform the US craft spirits market. The craft liqueurs segment is estimated to grow at a CAGR of more than 32% during the forecast period.

The leading vendors in the US craft spirits market are Diageo, Pernod Ricard, Bacardi, St. George’s Spirits, and House Spirits Distillery.

Read: US Craft Spirits Market - Industry Outlook and Forecast 2018-2023

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Global Speaker Market Analysis and Forecast 2023

Are Innovative Designs Best Way to Gain Customers in the Speakers Market?

The era of virtual assistants, wireless controllers, and innovative Bluetooth technology is revolutionizing the sound reinforcement market. With a focus on creating products that suit all consumer needs, vendors are launching advanced systems in the global speakers market. The growing adoption of music subscription services and streaming services such as Apple Music, Pandora, and Spotify; the demand for smart, wireless, and Bluetooth devices are increasing exponentially in the global market. The manufacturers are leveraging advanced technology to offer innovative products and services in the global market. Furthermore, virtual voice-assistance technology is expected to diversify and transform the global market during the forecast period. The research analysts at Arizton have gathered detailed information on each of these speakers segments and have estimated that these innovations will generate high revenues in the global market over the next few years.

The detailed overview of the various global speaker market is discussed in detail below:

Smart Speaker Market

The global smart speaker market is witnessing a tremendous growth due to the presence of several top vendors such as Google, Microsoft, and Amazon, offering the best devices. The development of virtual assistants such as Siri (Apple), Alexa (Amazon), Google Assistant (Google), and Cortana (Microsoft) is helping players attract a maximum number of consumers in the global market. The enhanced connectedness and the ability to converge voice-assistance technology with the smart home concept have witnessed an acceptance among modern-day tech-savvy end-users in the market. The increasing adoption of smart homes will lead to the development of the smart speaker market. The growing prominence of voice searches is one of the primary factors attributing to the growth of this global market. Voice searches help in advertising, payment, and processing activities in the market. With the advancement in technology and growing demand for innovative products, the market is expected to grow at a fast pace over the next few years.

The global smart speaker market is estimated to reach revenues of approximately $19 billion by 2023, growing at an impressive CAGR of around 31% during 2018-2023.

Device types available in the market:

  • First-party smart speakers
  • Third-party smart speakers

Read: Smart Speaker Market - Global Outlook and Forecast 2018-2023

Wireless Speaker Market

The launch of various devices that offer ease-of-use along with a taste of innovation is augmenting the demand in the global wireless speaker market. The rising awareness about wireless audio devices in developing countries is driving the growth of this market. The integration of smart technology in household appliances and enhanced marketing and visibility of these products online are some of the major growth drivers of this global market.

The US and China are the largest revenue generators of these devices in the global market. The vendors are focusing on ease of usage, connectivity, and skillsets, design, sensor technology, voice-recognition, signal transmission, and battery capacity to gain a larger global market share. The rising penetration of IoT (Internet of Things) in the consumer durable industry is encouraging the companies to implement these technologies to offer personalized customer experiences in the market. This technology will increase the performance and improve product designs in the global market.

The global wireless speakers market is projected to reach revenues of more than $27 billion by 2023, growing at a CAGR of approximately 17% during the forecast period.

Connectivity type available in the market:

  • Bluetooth Speakers
    • Traditional Bluetooth Speaker
    • Waterproof Bluetooth Speaker
    • Rugged Bluetooth Speaker
  • Wi-Fi Speaker
    • Based on Connectivity Technology
      • Wi-Fi only Speaker
      • Hybrid Speaker
    • Based on Voice Assistance
      • Smart Speakers
      • Non-Smart Speakers
    • Based on Room Placement
      • Singleroom Speaker
      • Multiroom Speaker

Read: Wireless Speaker Market - Global Outlook and Forecast 2018-2023

Bluetooth Speaker Market

The continuous development in mesh networking technology and rapid technological advancements is fueling the evolution of the global Bluetooth speaker market. The increase in purchasing power and rising number of dual-income households across Europe, North America, and developed APAC countries are driving the growth of the global market. The introduction of waterproof models and rugged devices is revolutionizing the global market and creating lucrative opportunities for manufacturers. The increasing penetration of wireless home audio devices will lead to higher revenues in the global market. The top vendors are focusing on leveraging unique design and latest technology to attract maximum user attention and gain a larger market share. The inclusion of long battery life, 360-degree surround sound, customizable led lights, app sync feature, and smart assistant is making these products attractive to a large group of end-users. The drastic shift in the music industry and the growing popularity of streaming and digital media services will also contribute to the overall development of the global market.

The global Bluetooth speaker market is projected to generate revenues of more than $8 billion by 2023, growing at a CAGR of over 10% during 2018-2023.

Product type available in the market:

  • Traditional Bluetooth Speaker
  • Waterproof Bluetooth Speaker
  • Rugged Bluetooth Speaker

Top players operating in all these three types of speaker are Alibaba Group, Alphabet (Google), Amazon.com, BEATS Electronics (Apple), Bose, HARMAN International (Samsung), Sonos, and Sony.

Read: Bluetooth Speaker Market - Global Outlook and Forecast 2018-2023

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Agriculture Tractors Market in Latin America Main Image

Top 4 Vendors Operating in the Tractors Market in Europe

The growing demand for agricultural products such as grains, vegetables, fruits, and pastures, animal husbandry, is creating a global need for innovative agriculture equipment in the market. The presence of such vast area of arable and crop land is expected to drive the European market of tractors along with other agriculture equipment and products. The vendors, capitalizing on the finance schemes and offers, pushed tractor sales to clear their inventories in the European market. Countries such as France, Italy, Spain, and Germany are the largest producers thereby, driving the demand for tractors in the European market. Factors such as increasing total factor productivity in farming, reduction in post-harvest loss, value addition to the agricultural raw materials, and better quality of agricultural products are driving the market in this region.

The tractors market in Europe is projected to produce volumes of around 350 thousand units by 2023, growing at a CAGR of more than 5% during 2018-2023.

The key four players operating in the tractors market in Europe are discussed in detail below:

1.    Deere & Company

John Deere is one of the bestselling tractors in Europe. The company offers small, medium, and large tractors which are differentiated on the basis of power across Europe. The company also offers agriculture management solutions, balers, combines, front loaders and other equipment which are operated using tractors to increase the productivity of the farms. The company also offers training before seasons to efficiently operate these machines as well as back up products in case of machinery failure during the season.

Key Strategy: John Deere is trying to achieve global pre-eminence in agricultural equipment and a global presence in agricultural equipment to eventually grow into a fully-integrated enterprise.

2.    CNH Industrial

CNH offers tractors under three brands in the European market which includes New Holland, Case IH, and Steyr. Case IH Optum 300 and Steyr 4145 machines were the winners for tractors of the year award in 2017. Europe headquarters of New Holland is located in Turin, Italy. Italy also has production facilities for low horsepower tractors and specialty products. The production center for medium and high power New Holland machines is located in Basildon, UK.

Key Strategy: CNH is focusing on increasing trend of precision farming, and the technology is made available through its two agriculture brands, New Holland and Case IH.

3.    AGCO

In Europe, AGCO tractors are primarily sold under the brand names Massey Ferguson, Fendt, and Valtra. The Massey Ferguson products are sold in various horsepowers, from 38 HP to 400HP. Fendt is one of the leading vendors of sales in Germany and sold an estimated of 5,774 units in the German market. The sales of its Challenger brand tractors in Europe were mainly in the UK with 43 units.

Key Strategy: AGCO is expanding their presence into new geographies such as Africa, China, and Brazil that naturally are ideal growth markets going forward their demographics and accompanying food demand.

4.   Kubota

Kubota is one of the leading vendors in the low and medium horse power segment in Europe. In Europe, Kubota offers tractors in the power range of 60 to 170 hp. The M7001 series is available in three variants of 130, 150, and 170 hp and they also have the power boost of 20, 20, and 5 hp, respectively. The company has a network of 650 distributors across Europe, and the major Kubota markets are France, Spain, Netherlands, Italy, and the UK. The company has set up an innovative production facility in Europe and had a production capability of 1,500 tractors per annum.

Key Strategy: Kubota is accelerating the development of the agriculture machinery market in countries such as India and China.

The other prominent player in the market is SDF, Class, Argo Tractors, Lovol Arbos Group, Carraro, and Tumosan.

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maternity personal care products

Organic Maternity Personal Care Products Gain Traction in the North American Market

The growing availability of improved and high-quality maternity personal care products across North America is driving the growth of the market in this region. The increasing awareness about various maternity care products that offer ease-of-use and convenience that is applicable in the fast-paced lifestyle will boost the demand for maternity personal care products in the North American market. The demand for stylish, fitting yet comfortable maternity apparels is one of the top trends in the North American market. The manufacturers are introducing many over-the-counter maternity vitamins medicines such as prenatal vitamins and postnatal vitamins to attract new consumers in the North American market. Maternity personal care products are designed to reduce physical changes such as stretch marks, loose skin, and other skin irritations.

The North America maternity care market is expected to generate revenues around $3 billion by 2023, growing at a CAGR of more than 2% during 2018-2023.

The different types of maternity personal care products available in the North American market are stretch mark minimizers, body restructuring gel, toning/firming lotion, nipple & breast cream, itch prevention cream, and others.

Maternity Personal Care Products – Market Overview

The increasing availability of various kinds of creams and increasing awareness of these products is propelling the growth of the maternity personal care products market. The stretch mark minimizers cream segment dominates the more than half of the market share in 2017. The top manufacturers are introducing various kinds products for all types of physical problems such as increased weight, itching, and sore breasts and nipples to gain a large market share. The growing demand for organic or natural maternity care products due to increased awareness about the harmful effects caused by chemicals used in several creams is propelling the growth of the maternity personal care products in the market in North America during the forecast period. Leading players such as Honest, Earth Mama, and Motherlove are introducing organic maternity personal care products in North American maternity care market. The maternity personal care products market in North America is projected to grow at a CAGR of more than 2% during the forecast period.

Maternity Personal Care Products – Market Dynamics

The growing awareness about skin care products is propelling the growth of the maternity personal care products market in North America. The drastic physical change in the woman’s body during pregnancy is leading to the introduction of lotions, oils, gels, and creams for stretch marks in North America. The vendors are introducing legs gel to relax, soothe, and calm the muscles of legs to attract new consumers in the global market. The increasing demand for premium quality skin care products is encouraging manufacturers to launch products that offer skin care with better formulations in North America. Companies such as The Honest Company, Lansinoh, and others are introducing organic maternity care products to boost their revenues in North America.

Maternity Personal Care Products – Market Trends

The retailers and manufacturers are offering subscription and bundling services to attract consumers in the maternity personal care products market in North America. The launch of several subscription offers under which companies provide maternity kits, containing all types of products, including stretch mark creams, tummy buttercreams, cleansers, and vitamins, and dietary supplements are supplied to customers will boost demand in the maternity personal care products market in North America. For instance, Bump Boxes, an online retailer selling maternity products, has subscription plans for all stages of pregnancy. The maternity kit has 4–8 products required at every stage of pregnancy and are delivered to the user at desired dates. These products include stretch mark minimizer creams, breast creams, belly oils, leg and foot cooling creams, among others. Similarly, another online site, ecocentricmom.com offers subscription options apart from selling individual organic mom and baby related products.

The leading vendors in the maternity personal care products market in North America are ASOS, Seraphine, Cake Maternity, Destination Maternity, The Hut Group, E.T. Browne Drug, The Honest Company, Merz Pharma, New Chapter, Garden of Life, and Nature’s Way.

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Data Center Solutions

Innovative IT Infrastructure to Boost Demand for Data Center Solutions by 2023

The billion-dollar investments in construction of colocation, hyperscale, and modular facilities have left operators searching for efficient and innovative data center solutions in the global market. The increasing use of services such as cloud, big data, IoT and artificial intelligence is one of the primary factors driving the need for advanced IT infrastructure in the market. The government initiatives to digitalize economy by allocating higher budgets for IT spending will augment the development of the global data center market during the forecast period. The companies operating in the market are primarily focusing on procuring infrastructure that is best suited to their business computing requirements. Such requirements will attribute to the demand for advanced data center solutions in the market. The migration from traditional HDD systems to all-flash and hybrid storage infrastructure will create lucrative opportunities for infrastructure vendors in the global market.

The different types of IT infrastructure offered by vendors as data center solutions in the global market are:

·         Server Infrastructure

The selection of server infrastructure depends on various factors such as form factors, energy consumption, and virtualization technologies. These systems are available in a variety of types and configurations depending on the requirement of the businesses operating in the market. The form factor servers available in the global market are rack server, blade servers, and tower servers. The leading vendors are offering server data center solutions in terms of density optimization, mission-critical, IoT, and cloud servers to attract maximum consumers in the global market. The growing popularity of converged and hyper-converged server infrastructure will help boost revenues in the global market. Various server systems available in the market are equipped with a processor of various architectures namely, x86, reduced instruction set computer (RISC), complex instruction set computing (CISC), and explicitly parallel instruction computing (EPIC). The demand for servers operational in the cloud environment with multicore processors and memory for virtual machines is expected to grow in the global market during the forecast period.

Data center solutions by server infrastructure are expected to grow at a CAGR of approximately 2% by 2023.

·         Storage Infrastructure

Storage infrastructure enables the business to store and process application data across facilities, and the three main categories of storage systems available in the global market include storage area networking (SAN), network attached storage (NAS), direct attached storage (DAS). The increasing adoption of all-flash storage arrays and hybrid storage arrays is one of the primary factors attributing to the growth of the storage infrastructure in the global market. The increasing adoption of high-performance HDDs of 10,000 and 15,000 RPM across facilities will boost sales and revenues for vendors offering data center solutions in the global market. The rising deployment of workloads related to big data and AI are well supported by flash-enabled storage systems is expected to revolutionize the global market during the forecast period.

Data center solutions by storage infrastructure are expected to grow at a CAGR of around 4% during the forecast period.

Storage Area Network (SAN): SAN enables block-level access to data, and it is defined based on interconnection scheme namely, FC SAN and iSCSI SAN.

Network Attached Storage (NAS): NAS enables file-level access to data, and it uses the existing IP network to transfer data.

Direct Attached Storage (DAS): DAS is a traditional topology, where storage devices are attached to the servers through a direct communication path.

·         Network Infrastructure

Network infrastructure is primarily based on the fabric architecture, and it uses Ethernet switches at three major locations inside the facility namely, top of the rack, aggregation, and core in the facilities. The other additional systems used across facilities in the global market include ethernet routers, application delivery controllers (ADC), and WAN optimization applications. The emergence of 25 GbE and 50 GbE switches is transforming the networking deployments across facilities in the global market. The increasing adoption of 40GbE ports will boost the demand for data center solutions in the global market. The increasing deployment of cloud data centers and colocation facilities will augment the adoption of switches with ports varying from 25GbE to 100 GbE across multiple layers of facilities architecture in the global market. Data center solutions by network infrastructure are expected to grow at a CAGR of approximately 4% during the forecast period.

Leading operators offering various data center solutions in the global market include:

By IT Infrastructure Providers

  • HPE
  • Cisco
  • Dell Technologies
  • IBM
  • Huawei

By Support Infrastructure Providers

  • ABB
  • Eaton
  • Rittal
  • Schneider Electric
  • STULZ
  • Vertiv
  • Caterpillar
  • Cummins

By Facilities Operators

  • AECOM
  • DPR Construction
  • HDR Architecture
  • Holder Construction
  • Jacobs Engineering Group
  • Mercury Engineering
  • M+W Group

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