Rising Adoption of “3D Food Printing” by Food Manufacturers to Innovate New Products

 

According to a new market research report titled, ‘3D Food Printing Market by Offering, Printing Method (Layer-by-layer, Mold-based), Printing Technology (Extrusion, Powder Binding Deposition), Ingredient Form (Pastes and Purees, Powdered Ingredients), End User, and Geography - Global Forecast to 2030’, the 3D food printing market is expected to reach $11.3 billion by 2030, at a CAGR of 50.2% from 2023 to 2030.

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3D printing is a technique used to manufacture three-dimensional objects with high accuracy and quality finishing. A 3D food printer comprises a food-grade syringe or cartridge that holds material (a food ingredient in a puree/mash/powder form) and deposits exact fractional layers through a food-grade nozzle directly onto a plate or platform in a layer-by-layer (additive) manner or through a mold-based method wherein 3D printing food machines are used to shape dough using a hollow container or molding box.

The growth of the 3D food printing market is driven by the rising demand for gourmet food and the increasing use of 3D printing technology to produce plant-based meat alternatives and reduce food wastage.

However, the long processing times required to 3D print food products and the lack of flavor and texture compared to traditionally manufactured food products restrain the growth of this market. The growing demand for 3D food printing technology in the food & hospitality industries and increasing research initiatives to develop innovative 3D food printing models are expected to create market growth opportunities. However, limitations in ingredient processing and consumers’ higher preference for traditionally manufactured food products are major challenges for the players operating in the 3D food printing market.

The 3D food printing market is segmented based on offering (machines & accessories, software, and services), printing method (layer-by-layer and mold-based), printing technology (extrusion {soft-materials extrusion, melting extrusion, and hydrogel-forming extrusion}, powder binding deposition {selective laser sintering, liquid binding, and selective hot air sintering and melting} inkjet printing, and bio-printing), ingredient form (pastes and purees {dough, puree, jelly & frosting, mashed fruits & vegetables, cheese, and other pastes and purees}, powdered ingredients {sugar, chocolate powder, protein powder, flour, and other powdered ingredients}, and cells), end user (restaurants {QSR/fast food restaurants, casual dining restaurants, cafes, and fine dining/gourmet restaurants}, big-scale catering, bakeries & confectionaries, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the 3D food printing market is segmented into machines & accessories, software, and services. In 2023, the machines & accessories segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the wide usage of 3D printing technology in food industries for personalized nutrition, automated cooking, and reduction in food wastage, among other applications. Additionally, this segment is slated to register the highest CAGR during the forecast period.

Based on printing method, the 3D food printing market is segmented into layer-by-layer and mold-based. In 2023, the layer-by-layer segment is expected to account for the larger share of the 3D food printing market. The large market share of this segment is attributed to the method’s wide usage in different applications and its ability to easily design complex-shaped products and add specific ingredients selected as per customer preferences. Additionally, this segment is slated to register the highest CAGR during the forecast period.

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Based on printing technology, the 3D food printing market is segmented into extrusion, powder binding deposition, inkjet printing, and bio-printing. The extrusion segment is further sub-segmented into soft-materials extrusion, melting extrusion, and hydrogel-forming extrusion. The powder binding deposition segment is further sub-segmented into selective laser sintering, liquid binding, and selective hot air sintering and melting. In 2023, the extrusion segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the technology’s ability to achieve the output of conventional food extrusion processing physically with digitalized designs and personalized nutrition control. Also, extrusion is a digitally controlled, robotic construction process that can produce complex-shaped 3D food products. However, the powder binding deposition segment is projected to register the highest CAGR during the forecast period.

Based on ingredient form, the 3D food printing market is segmented into pastes and purees, powdered ingredients, and cells. The pastes and purees segment is further sub-segmented into dough, puree, jelly & frosting, mashed fruits & vegetables, cheese, and other pastes and purees. The powdered ingredients segment is further sub-segmented into sugar, chocolate powder, protein powder, flour, and other powdered ingredients. In 2023, the pastes and purees segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the ingredients’ structural properties and easy usage with 3D food printing technologies. Also, the increasing demand for customized paste and puree-based products supports the segment’s large share. However, the powdered ingredients segment is projected to register the highest CAGR during the forecast period.

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Based on end user, the 3D food printing market is segmented into restaurants, big-scale catering, bakeries & confectionaries, and other end users. The restaurants segment is further sub-segmented into QSR/fast food restaurants, casual dining restaurants, cafes, and fine dining/gourmet restaurants. In 2023, the bakeries & confectionaries segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the increasing demand for personalized meals and luxury dining and the rising consumption of plant-based meat products across the globe. However, the restaurants segment is projected to register the highest CAGR during the forecast period.

Based on geography, the 3D food printing market is segmented into North America, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the 3D food printing market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major factor driving the market's growth in North America is the increasing technological progress in all aspects of food technology, rapidly rising awareness regarding 3D-printed and plant-based meat products, and the increasing demand for vegan alternatives to meat products.

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2023. The key players operating in the 3D food printing market are 3D Systems Corporation (U.S.), TNO (Netherlands), Natural Machines (Spain), Wiiboox (China), byFlow B.V. (Netherlands), Dovetailed (U.K.), PancakeBot (U.S.), BeeHex, LLC (U.S.), Print4Taste GmbH (Germany), and Changxing Shiyin Technology Co., Ltd. (China).

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Surgical Sutures: Performance Criteria for Safety

 

According to a new market research report titled, ‘Surgical Sutures Market by Type [Absorbable {Polyglactin, Polydioxanone, Poliglecaprone, Collagen} Nonabsorbable {Polypropylene, Nylon, Silk}] Structure [Monofilament, Multifilament] Coating [Uncoated, Antimicrobial] Application - Global Forecast to 2030,’ published by Meticulous Research®, the surgical sutures market is projected to reach $4.42 billion by 2030, at a CAGR of 4.1% from 2023 to 2030.

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Surgical sutures are medical devices used for deep wound closure. It helps to hold the body tissues after any surgery or injury. Various types of sutures are available based on shape, size, and thread material, as well as the characteristics of the needle. Surgical sutures should be examined by the location and characteristics of the wound or the specific body tissues.

 

The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry in the last three to four years. The global surgical sutures market has witnessed several strategic developments in the past few years.

 

Advancements in sutures and wound closure technologies and the increasing number of surgical practices are driving the growth of this market. In addition, growing healthcare infrastructure in developing countries will likely offer better growth opportunities for market expansion. However, the availability of alternative wound care products and the increasing popularity of minimally invasive surgeries is expected to restrain the market's growth to some extent.

 

Enhancing Healthcare Infrastructure in Developing Countries to Offer Opportunities for Surgical Sutures Market Growth

Surgical sutures manufacturers have the opportunity to expand into new markets, such as developing countries with growing healthcare infrastructures. These markets may offer significant growth opportunities for surgical sutures, particularly as the demand for surgical procedures increases. The demand for healthcare services is growing globally, especially in developing countries, due to rising healthcare expenditure and growing healthcare infrastructure.

 

Developing countries in Asia and Latin America offer high growth opportunities due to the aging population suffering from non-communicable diseases and growing income level and spending on healthcare. Additionally, governments of various developing nations are taking initiatives to improve healthcare infrastructure. Countries such as China, Japan, and South Korea are investing heavily in their healthcare systems, leading to increased surgical procedures and the adoption of advanced sutures for deep wound closure.

 

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The surgical sutures market is segmented by Type [Absorbable Sutures {Synthetic Sutures (Polyglactin 910 (Vicryl), Poliglecaprone 25 (MONOCRYL), Polydioxanone (PDS), Polyglycolic Acid), Natural Sutures (Collagen Fiber Suture), Other Absorbable Sutures}, Nonabsorbable Sutures {Synthetic Sutures (ETHIBOND EXCEL Polyester Suture, Polypropylene (Prolene)), Natural Sutures (Nylon (polyamide), Silk, Stainless Steel), Other Nonabsorbable Sutures}, Structure [Monofilament Sutures, Multifilament/Braided Sutures], Coating Type [Uncoated Sutures, Antimicrobial Sutures], Application [Cardiovascular Surgery, Orthopedic Surgery, Neurosurgery, Gynecological Surgery, Cosmetic & Plastic Surgery, Ophthalmic Surgery, General Surgery, Other Applications], End User (Hospitals/Clinics, Ambulatory Surgical Centers, Other End Users], and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).

 

Based on type, the surgical sutures market is segmented into absorbable sutures and nonabsorbable sutures. The absorbable sutures segment is expected to account for the largest share of the market in 2023. Absorbable sutures are made of material that can dissolve into the body over time and are used to rapidly close surgical incisions or wounds. They don’t need any removal after wound healing. The rise in accident cases and the prevalence of surgeries boosted surgical procedures and wound care management, contributing to the high demand for absorbable sutures.

 

Based on structure, in 2023, the multifilament/braided sutures segment is expected to account for the largest share of the surgical sutures market. The large market share of this segment is attributed to its greater tensile strength, high resistance value, better flexibility, and pliability. These types of sutures are easy to handle, and they tie well. However, the monofilament sutures segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by its ability to lower infection risk, offer resistance to microorganisms, and reduce tissue trauma. They are more appropriate with fine tissues where tissue trauma can be prominent such as blood vessels.

 

Based on the coating type, the antimicrobial sutures segment is projected to register the highest CAGR during the forecast period. Antimicrobial sutures are coated with an antimicrobial material. They are used to repair incisions or cuts and heal them rapidly. Antimicrobial-coated sutures are used to reduce or prevent any suture-related infections. The minimally invasive nature of these sutures and the growing number of surgeries drive the growth of this segment.

 

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Based on application, in 2023, the surgical sutures market is segmented into cardiovascular surgery, orthopedic, neurosurgery, gynecological surgery, cosmetic & plastic surgery, ophthalmic surgery, general surgery, and other applications. The Orthopedic surgery segment is expected to account for the largest share of the surgical sutures market. The large market share of this segment is attributed to the growing incidence of knee arthroplasty and hip replacement surgeries among the geriatric population and the rising prevalence of accident cases and sports injuries.

 

Based on end user, in 2023, the hospitals/clinics segment is expected to account for the largest share of the surgical sutures market. The large market share of this segment is attributed to a rise in surgical procedures and frequent doctor visits for wound closure.

 

Based on geography, the surgical sutures market is segmented into North America, Europe, Asia-pacific, Latin America, and Middle East & Africa. In 2023, North America is expected to account for the largest share of the surgical sutures market. The key factors contributing to this large market share are the high burden of the geriatric population, advanced healthcare infrastructure, the increasing number of surgeries, and the presence of key market players. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this segment is primarily due to the aging population and increasing prevalence of chronic diseases requiring surgical procedures, improving healthcare infrastructure, accelerated growth of economies and increasing disposable incomes, and growing medical tourism industry.

 

Some of the key players operating in the global surgical sutures market are Ethicon, Inc. (U.S.) (A subsidiary of Johnson & Johnson Services, Inc.), B. Braun SE (Germany), Medtronic (Ireland), Smith & Nephew plc (U.K.), Surgical Specialties Corporation (U.S.), CONMED Corporation (U.S.), Mellon Medical B.V. (Netherlands), DemeTECH Corporation (U.S.), Apollo Endosurgery, Inc. (U.S.), Teleflex Incorporated (U.S.), Kono Seisakusho Co.,Ltd. (Japan), Zimmer Biomet Holdings (U.S.), Stryker Corporation (U.S.), Boston Scientific Corporation (U.S.), Advanced MedTech Solutions Pvt. Ltd. (India), and Peters Surgical (India).

 

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Wearable Medical Devices: Useful in Monitoring Patients Health

 

According to a new market research report, ‘Wearable Medical Devices Market by Type (Smart Watch, Activity Monitor, Patch), Application (Monitoring {Glucose, BP, Sleep, RPM}, Therapeutic {Pain, Rehabilitation, Insulin), Grade (Consumer, Medical), Distribution Channel – Global Forecast to 2030’, published by Meticulous Research®, the wearable medical devices market is projected to reach $184.49 billion by 2030, at a CAGR of 19.5% from 2023 to 2030.

 

Wearable devices are used to monitor vital parameters, such as blood pressure, blood glucose, oxygen levels, and sleep tracking, among others. They are also used as therapeutic devices for pain management, rehabilitation, and drug delivery. These devices or technologies come under a large spectrum of usability, including smartwatches, fitness trackers, continuous glucose monitoring patches, smart glasses, smart clothing, shoe sensors, and pain-reducing capacity, among others. This range of devices is used for various applications, such as blood glucose monitoring, blood pressure monitoring, sleep monitoring, neurological monitoring, baby monitoring, pain management, orthopaedic management, and smart wound care management, among others.

 

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The growth of the wearable medical devices market is driven by several factors, including growing efficiency and accuracy regarding patient data, increasing geriatric population, increasing prevalence of chronic diseases, and increasing adoption of home healthcare as an alternative to hospitals. Factors such as the potential to expand in emerging economies, increase in the use of remote patient monitoring and telehealth services, increasing patient awareness, and technological developments are a few of the opportunities that would help grow the market in the future. Lack of privacy and the high cost of wearable medical devices could be considered challenges for the wearable medical devices market. However, the manufacturing defects concerned with these wearable medical devices and the reluctance to adopt newer technologies compared to traditional healthcare technologies restrain the market's growth.

 

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key growth strategies adopted by leading market players in the last three to four years. In recent years, the wearable medical devices market has witnessed several organic and inorganic strategic developments. The key players profiled in the wearable medical devices market report are Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), Fitbit, Inc. (U.S.), Apple, Inc. (U.S.), OMRON Corporation (Japan), VitalConnect, Inc. (U.S.), Garmin Ltd. (U.S.), Sotera, Inc. (U.S.), F. Hoffmann La-Roche (Switzerland), DexCom, Inc. (U.S.), and Withings (France).

 

Increasing Geriatric Population to Drive the Growth of this Wearable Medical Devices Market

 

Wearable medical devices are playing an increasingly important role in healthcare, and they have specific benefits for the geriatric population. These devices are designed to be worn on the body and collect health-related data, providing valuable insights into an individual's well-being. Some of the devices included in this market are smartwatches and patches/stick-ons. The use of these devices is increasing rapidly due to their popularity in tracking heart rate, blood pressure, and other vital signs. Due to their rising popularity, these devices are now being used by many older people and are becoming quite useful for them as it reduces their risk of infection due to traveling to a hospital or clinic for treatment or consultation and saves time and money.

 

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According to the United Nations, the population of age 65 or above in the world is expected to increase from 703 million people in 2019 to 1.5 billion in 2050. Also, according to the American Hospital Association, the number of people in the U.S. with a chronic medical condition is projected to rise from 149 million in 2015 to 171 million in 2030. Wearable devices allow healthcare providers to remotely monitor the health of geriatric patients, even when they are at home or in assisted living facilities. These devices can track vital signs such as heart rate, blood pressure, and oxygen levels, providing real-time data to healthcare professionals. Remote monitoring reduces the need for frequent hospital visits and enables early detection of potential health issues. Thus, the rise in the geriatric population would indirectly lead to the increase in the factors mentioned above, leading to the market's growth. Wearable devices can help older adults manage their medication schedules more effectively. They can send reminders to take medications at the right time and track adherence. Some devices can even dispense medication automatically or provide visual and auditory cues to assist with medication management.

 

The wearable medical devices market is segmented by Type (Activity Monitors, Smartwatches, Patches/Stick-Ons, and Other Types), Application [Diagnostic and Monitoring {Vital Signs Monitoring, Glucose Monitoring, Blood Pressure Monitoring, Sleep Monitoring, Respiratory Monitoring, Other Diagnostic and Monitoring Applications}, Therapeutics {Pain Management, Rehabilitation, Insulin Delivery, and Other Therapeutic Applications}], Distribution Channel (Hospitals & Pharmacies, E-commerce, and Retail Channels), Grade (Consumer and Medical Grade), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

 

Based on type, in 2023, the smartwatches segment is expected to account for the largest share of the market. Factors such as a rising consumer base using smartwatches for health monitoring, an increasing number of product launches, and increased health awareness for chronic disease management and prevention drive the growth of this segment. Smartwatches equipped with optical heart rate sensors can continuously monitor the wearer's heart rate throughout the day. This feature is particularly valuable for older adults who may need to keep track of their heart health or detect irregularities in their heart rhythm. Some smartwatches can even alert users to abnormal heart rates or arrhythmias.

 

Based on application, the diagnostic and monitoring segment is expected to account for the largest share of the market. Diagnostic and monitoring devices monitor vitals and have data storage and transmission capabilities. Continuous glucose monitoring, blood pressure monitoring and heart rate monitoring are some of the vitals that can be monitored using these devices. Apart from this, the geriatric population is increasing rapidly worldwide, and in some cases, would need round-the-clock guidance for diagnosing, managing, and treating disorders like diabetes. This could be provided by diagnostic and monitoring devices paired with easier and more accurate patient health and data management, increasing patient population and self-awareness of patients leading to a large share of this segment in the market.

 

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Based on distribution channel, the E-commerce segment is projected to register the highest CAGR during the forecast period. E-commerce platforms often offer competitive pricing due to reduced overhead costs compared to traditional brick-and-mortar stores. Additionally, there are frequent sales, discounts, and promotional offers available online, allowing customers to save money when purchasing wearable medical devices. This can be advantageous for the geriatric population, especially those on fixed incomes or with limited financial resources. There has been an increased demand for wearable medical devices since the pandemic. Companies provide these wearables on their website or other commercial websites. The benefits of E-commerce as a distribution channel, such as high convenience, ease of access, attractive discounts, and increased internet penetration, are factors driving this segment's growth.

 

Based on grade, in 2023, the consumer grade segment is expected to account for the largest share of the market. Companies such as Apple, Inc. (U.S.) and Fitbit, Inc. (U.S.) are now turning to develop medical devices that are easy to handle or carry and can monitor vital signs or other health-related data remotely. This is mainly due to the increasing understanding of people for maintaining a healthy lifestyle and tracking their fitness goals to avoid health issues or disorders in the near future. Alongside this, the increasing customer pool for consumer-grade devices due to new technologies and features in the devices and new consumer product launches drive the growth of the segment.

 

Based on geography, the market in North America is expected to account for the largest share of the market. The growth of this regional market is primarily driven by increased R&D expenditure and high technological innovation in smart devices, high disposable income in this region, and the increased trend of adopting smart devices for health & fitness monitoring. Additionally, the increasing geriatric population and the high prevalence of chronic diseases contribute to the growth of this market. However, Asia-Pacific is expected to witness rapid growth during the forecast period. The growth in this region is primarily driven by the high number of manufacturers in the region and the increased consumer pool due to the increase in population, along with the increasing geriatric population in countries like China and Japan, increasing prevalence of chronic diseases in developing countries, and increasing adoption of home healthcare as an alternative to hospitals in the region.

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Live Streaming: Engage Your Audience

 

According to a new market research report titled, Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Geography — Global Forecast to 2028,' the live streaming market is expected to reach $4.26 billion by 2028, at a CAGR of 22.4% from 2021 to 2028.

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The adoption of advanced technologies for live streaming content over the internet has revolutionized the media industry. In recent years, many companies have started offering live streaming features on their platforms. Live broadcast technology over the internet has improved significantly and is increasingly being used for live streaming esports, sports events, concerts, theater, workout routines, and educational content. Furthermore, live streaming became a necessary alternative for numerous applications during the COVID-19 pandemic. Thus, there is considerable growth in the demand for live streaming technology to enable high-quality streams, enhanced marketing, analytics tracking, and real-time customer interaction.

The growth of this market is driven by the surging popularity of esports and video games, the growing preference for live-streamed content, and increasing smartphone adoption and internet penetration. However, connectivity and production issues are expected to restrain the growth of this market.

Furthermore, the increasing focus on network bandwidth optimization and the growing scope of live streaming technology is expected to create growth opportunities for the vendors operating in this market. However, fake traffic on live streaming websites is a major challenge for the market's growth. Additionally, the incorporation of advanced technologies is an ongoing trend in this market.

Increasing Smartphones Adoption and Internet Penetration to Drive the Live Streaming Market

In live streaming setups, different technologies, such as streaming protocols carry data to the users. Streaming platforms require high-speed internet connectivity to establish stable, reliable connections and enable higher content bitrate and resolution. Streaming live videos requires high internet speeds due to factors such as resolution, bandwidth, and bitrate, whereas audio streaming requires low speeds as it consumes smaller bandwidths.

According to Dacast (U.S.), some of the estimated internet requirements for different streaming resolutions are as follows:

• Streaming 1080p HD videos – 25 Mbps
• Streaming 720p Videos – 10 Mbps
• Streaming 480p Videos – 5 Mbps

The wide availability of smart devices and smartphones with high computing power and increasing internet penetration across the globe drive the growth of the live streaming market. According to Cisco Systems, Inc. (U.S.), by 2023, there will be around 5.3 billion internet users globally with average global fixed broadband speeds up to 110 Mbps and approximately 3.6 global devices and connections per capita.

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The global live streaming market has witnessed remarkable growth during the COVID-19 pandemic. According to the GWI Live Streaming Infographic, in 2020, approximately 29.0% of internet users globally accessed live-streamed content on their preferred social media platforms. Also, according to GWI Live Streaming Trends, in March and April 2020, live streamers accounted for more than a third of all internet users globally. These factors are expected to further drive the growth of the live streaming market during the forecast period.

To provide efficient analysis, Meticulous Research^® has segmented this market based on component (services and software/solutions), offering (business-to-business [B2B], business-to-consumer [B2C]), streaming type (audio streaming, video streaming, and game streaming), vertical (enterprises, media & entertainment, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

Based on type, the live streaming market is segmented into services and software/solutions. In 2021, the services segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing demand for new installation and integration of live-streaming platforms, the need for professional post-production support, upgradation, and maintenance to help deliver content based on client specifications and provide a personalized experience to viewers, and the surging demand for customer support, content creation services, and subscription services.

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Based on offering, the live streaming market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2021, the business-to-consumer (B2C) segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the increasing need to transmit live content on the internet for better brand engagement and reach, the growing adoption of smart devices, and high internet penetration globally.

Based on streaming type, the live streaming market is segmented into audio streaming, video streaming, and game streaming. In 2021, the video streaming segment accounted for the largest share of the live streaming market. However, the game streaming segment is slated to register the highest CAGR during the forecast period due to the proliferation of smartphones with high processing power, high internet penetration, an increasing number of online gamers, and the rising popularity of esports.

Based on vertical, the live streaming market is segmented into media & entertainment, enterprises, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals. In 2021, the media & entertainment segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing popularity of online live video streaming in the media & entertainment industry, the rising technological advancements such as the implementation of blockchain technology in streaming, the growing adoption of cloud-based video streaming solutions, and the increasing use of artificial intelligence for increasing the reach of video content, improving video quality, and enhancing security.

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Based on geography, the live streaming market is segmented into five major regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2021, Asia-Pacific accounted for the largest share of the live streaming market. The factors responsible for the large market share in Asia-Pacific include the rising focus on digitalization due to technological advancements, such as cloud computing, AI, and 5G technology in the digital media industry and the rising adoption of live-streaming platforms for better brand engagement and reach.

In addition, Asia-Pacific is slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is driven by the increasing consumer base for live streaming content, the rising smartphone adoption, and the high internet penetration.

The live streaming market is dominated by three top players: Vimeo, Inc. (U.S.), IBM Corporation (U.S.), and Boxcast (U.S.). These players continuously focus on agreements, collaborations, partnerships, and product development and launches to increase their respective market shares.

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Human Nutrition: Their Functions in Human Beings

 

According to a new market research report titled, ‘Human Nutrition Market by Type (Vitamins, Proteins, Minerals, Fatty Acids, Carbohydrates), Application (Functional Food, Functional Beverages, Dietary Supplements), Population (Geriatric, Pediatric, Maternal) and Geography - Global Forecast to 2030’ the global human nutrition market is projected to reach $189.2 billion by 2030, at a CAGR of 7.4% during the forecast period.

 

The growth of the human nutrition market is mainly attributed to rising health and wellness trend, growing demand for fortified food products, lifestyle changes, rising incidences of chronic diseases, and increasing application in infant formulas and dietary supplements. Furthermore, product launches and technological innovations by the leading players in the human nutrition market are expected to create market growth opportunities.

 

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The human nutrition market is segmented by type (vitamins [fat-soluble vitamins (vitamin a, vitamin e, vitamin d], water-soluble vitamins [Vitamin C, Vitamin B9, Vitamin B12, Vitamin B7, Vitamin B3, Vitamin B2, Vitamin B1, Vitamin B5, Vitamin B6], probiotics, proteins and amino acids, carbohydrates (monosaccharides [glucose, fructose, galactose], oligosaccharides [sucrose, lactose, other carbohydrates], fats and fatty acids (omega-3 fatty acid, omega-6 fatty acid, monounsaturated omega-9 fatty acid, palmitic acid (pa), other fats and fatty acids), minerals (macro minerals [calcium, phosphorus, potassium, magnesium, salt (sodium chloride)], microminerals [iron, zinc, copper, chromium, fluoride, iodine, selenium, manganese, molybdenum], other mineral types), by application (functional food [dairy products, bakery products, snacks, confectionery products, infant food products, other functional foods], functional beverages [energy drinks, sports drinks, fortified juices, dairy-based beverages, other functional beverages], dietary supplements, other applications), by population category (pediatric, geriatric, maternal, athletes, and other population categories) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.

 

Among all the types studied in this report, the vitamins segment is expected to account for the largest share of the global human nutrition market in 2023. The large market share of this segment is attributed to the increasing attention to health and wellbeing by consumers, the rising prevalence of vitamin deficiencies, and the huge demand for vitamin-fortified foods. In addition, the rising health and wellness trends and a steady rise in the geriatric population in developed economies are further expected to boost the demand for this segment. However, the probiotics segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing consumer awareness regarding the health benefits of probiotics, the increasing use of probiotics as an alternative to antibiotics, the growing research on probiotics, and the growing use of probiotics for children.

 

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Among all the applications studied in this report, the functional food segment is expected to account for the largest share of the human nutrition market. The large share of this segment is attributed to the changes in lifestyle and food habits, growing demand for nutritional and fortifying food products, rising spending on healthy & nutritious diets, and increased consumer knowledge about their health advantages. However, the functional beverages segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing demand for functional beverages in emerging economies, increasing demand for sports drinks, and a rise in health expenditure.

 

Among all the population categories studied in this report, the geriatric population segment is expected to account for the largest share of the human nutrition market. The large market share of this segment is attributed to factors such as the increasing aging population, the growing need to maintain and improve the digestion and immunity system of older adults, and the high prevalence of chronic conditions in this category population.

 

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Among all the regions studied in this report, in 2023, North America is expected to account for the largest share of the human nutrition market. The large market share of this region is attributed to the well-established nutraceutical and functional food industry; growing demand for nutritional supplements; high investments in the research & development of human nutrition products; rising prevalence of chronic diseases including cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases; the increasing focus on a healthy lifestyle; and the growing health & wellness and clean label trends.

 

The human nutrition market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the human nutrition market are Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Chr. Hansen Holding A/S (Denmark), Glanbia plc (Ireland), Corbion N.V.(Netherlands), Associated British Foods plc (U.K.), Arla Foods (Denmark), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto Co. Inc. (Japan), Cargill, Incorporated (U.S.), BASF SE (Germany), and Kerry Group plc (Ireland).

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Parking Management: A Smarter Way of Parking

 

According to a new market research report titled “Parking Management Market by Component (Solution, Services), Technology (Image Processing, Reservation Based, RFID, Visible Light Communication), End User (Retail, Entertainment, and Leisure), Deployment, and Parking site - Global Forecast to 2027”, published by Meticulous Research®, the parking management systems market is expected to reach $4.03 billion by 2027, at a CAGR of 7.6% during the forecast period of 2020 to 2027.

A parking management system automates a car parking system. It encompasses ICT-based solutions that deploy IoT and AI for a smooth and automated parking facility. It optimizes parking spaces and making processes efficient. It gives real-time car parking information, such as vehicle & slot counts, available slots display, reserved parking, pay-and-park options, easy payments, reports, and a host of other features.

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The growth of the overall parking management systems market is mainly attributed to the growing demand for AI-based services, increasing need for parking spaces, and growing focus on seamless traffic flow. Moreover, the growing number of smart cities and technological advancements in autonomous cars will likely provide significant growth opportunities for players operating in the parking management systems market. However, the complexity in system integration, shift from car ownership model to car-sharing model, high initial installation & implementation cost of parking systems, and climate durability & vandalism are some of the

In conclusion, factors such as declining automotive production & sales of new vehicles and reduced purchasing power of consumers, coupled with the looming threat of recession and unemployment, have significantly affected the parking management systems market during pandemic.

Growing focus on seamless traffic flow to drive the growth of this market.

Traffic congestion is rising in smart cities worldwide due to population explosion, increasing number of automobiles, aging infrastructure, and uncoordinated traffic systems. Inefficient parking management worsens the situation as drivers move around in search of parking spaces around their destination, causing traffic congestion. Advanced traffic management systems can significantly decrease traffic congestion, improve safety, and accommodate additional vehicles in the cities.

major factors likely to hinder the market growth.

Parking solutions are an integral part of the ATMS (Advanced Traffic Management Systems). It combines sensors, street lights, smart navigation, and online payment platforms to collect real-time data, translate it into actionable insights, and relay information between the driver and parking facility operator. These systems can guide vehicles towards an available parking spot using vehicle guidance systems and notify users about parking spots across the city.

Hence, parking can reduce traffic congestions by providing drivers an overview of the least congested routes, parking options, and payment options available. Drivers can easily locate an available parking spot and get off the road quickly by understanding the availability in advance. These systems can also ensure that payments are made instantly using smartphones and parking space is made available for the next driver quickly.

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To provide efficient analysis, Meticulous Research^® has segmented this market based on component (solutions and services), technology (image processing, reservation-based parking management systems, RFID-based parking management systems, visible light communication, and license plate recognition), end user (retail, entertainment, & leisure; airport, railway stations, & bus terminals, office spaces, and residential), deployment type (on-premises and cloud), parking site (on-street and off-street), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

Based on component, the parking management systems market is segmented into solutions and services. The solutions segment accounted for the largest share of the parking management systems market in 2020. This growth of the segment is attributed to increased efforts by parking operators and city authorities to reduce traffic congestion, increasing operating revenue, better enforcement of parking laws, and rising need for real-time video surveillance for security of parking facilities. However, the services segment is expected to grow at the highest CAGR during the forecast period.

Based on end user, the parking management systems market is segmented into commercial and residential. The commercial segment accounted for the largest share of the overall parking management systems market in 2020. The segment is also expected to grow at the highest CAGR during the forecast period. This segment's growth is attributed to the optimal space usage of commercial parking spaces, reduced traffic congestion in CBDs, reduction in management cost, increasing revenue due to flexible payment options, and enhanced security of commercial parking spaces.

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Based on technology, the parking management systems market is segmented into image processing, reservation-based parking systems, RFID-based parking management systems, visible light communication, and license plate recognition. The license plate recognition segment accounted for the largest share of the overall parking management systems market in 2020. The segment is also expected to grow at the highest CAGR during the forecast period. The segment's growth is mainly attributed to its benefits, such as increased revenue through improved compliance, decreased overhead cost, improved access to limited parking spaces, gate-less entry options, enhanced customer experience, and improved operations.

Based on deployment mode, the parking management systems market is segmented into on-premises and cloud-based. In 2020, the cloud-based segment accounted for the largest share of the overall parking management systems market as well as it is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its flexibility of access, agility, zero maintenance cost, and flexible payment.

Based on parking site, the parking management systems market is segmented into on-street and off-street sites. The off-street sites segment accounted for the largest share of the parking management systems market in 2020. The growth of this segment is attributed to the rising requirement to reduce congestion in central business districts of cities by banning on-street parking and increasing number of vehicles & parking space demand.

Based on geography, the global parking management systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe accounted for the largest share of the global parking management systems market in 2020. The growth of this region is primarily attributed to factors such as the presence of major companies engaged in R&D of ICT & their focus on developing advanced IoT and AI applications, initiatives by the EU and local governments to develop innovative parking management solutions, availability of strong communication infrastructure, and a higher rate of technology adoption in European countries. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

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In Europe, Germany commands largest share of the parking management systems market. The market growth in this country is primarily attributed to increasing development in their parking management system approaches and adopting various methods to implement them. Germany boasts an excellent ICT infrastructure and is fast-tracking smart technologies in its infrastructure. Nearly 74% of Germans live in cities and towns, so strategic urban development through digital solutions is widely recognized and relevant. Germany aims to use networked information and communication technologies to enable intelligent transportation and parking management systems to reduce congestion across its roads.

In Hamburg, the Department of Home Affairs and Sports and State Traffic Authority, in association with Deutsche Telekom, presented an app-based smart parking solution—Park and Joy, to simplify parking and reduce traffic congestion. The app will fetch data from numerous sensors placed by the local transport authority LBV and allow users to see free parking spaces through a smartphone.

In 2020, Cleverciti Systems GmbH, in association with RheinEnergie AG, deployed smart parking solutions in Cologne, Nippes. Cleverciti will install ClevercitiSensors and ClevercitiCirc360 guidance systems on Rheinenergie’s lampposts across 770 on-street parking spaces in Cologne. The guidance system will enable drivers to access real-time parking occupancy information and deliver live guidance to drivers.

The top four players that dominated the global parking management systems market were Amano Corporation (Japan), FLOWBIRD (France), SKIDATA GmbH (Austria), and T2 Systems, Inc. (US). Other key players operating in the parking management systems market are Xerox Corporation (US), IBM Corporation (US), Cubic Corporation (US), Robotic Parking Systems, Inc. (US), SWARCO AG (Austria), SIEMENS AG (Germany), Skyline Parking AG (Switzerland), Unitronics (1989) (RG) Ltd. (Israel), and Cleverciti Systems GmbH (Germany).

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