Research Insight

Agricultural Micronutrients Market Size & Share - Future Growth Expectations

The global agricultural micronutrients market, valued at USD 4.5 billion in 2023, is expected to reach USD 6.9 billion by 2028, with a CAGR of 8.6%. Key drivers include the focus on improving yield and crop quality, increasing demand for high-quality food, soil micronutrient deficiencies, research, technological advancements, and growing awareness of the benefits of agricultural micronutrients.

• Published: May 2024

Oil and Gas Pumps Market Size & Share - Global Future Growth Expectations

The global oil and gas pumps market is projected to reach USD 10.9 billion by 2028 from an estimated USD 8.7 billion in 2023, at a CAGR of 4.7% during the forecast period. The Oil and Gas Pumps Market is the industry segment that manufactures, distributes, and uses pumps that are specifically developed for the oil and gas sector. These pumps are critical to many processes in the oil and gas sector, including extraction, transportation, refining, and distribution of oil and gas products.

• Published: May 2024

Automotive HUD Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive HUD market size is projected to grow from USD 1.0 billion in 2023 to USD 2.2 billion by 2028, at a CAGR of 16.6%. Factors such as increasing adoption of ADAS equipped vehicles, increasing demand for connected vehicles, and growing focus towards vehicle safety will increase the need for automotive HUD solutions to enhance the driving experience. Also, rising demand for semi-autonomous vehicles, and increasing adoption of electric vehicles are also expected to support the revenue growth of the automotive HUD market during the forecast period.

• Published: May 2024

Oil and Gas Pumps Industry - Emerging Trends Making Great Impact

The global oil and gas pumps market is projected to reach USD 10.9 billion by 2028 from an estimated USD 8.7 billion in 2023, at a CAGR of 4.7% during the forecast period. Factors influencing the oil and gas pump industry include fluctuations in oil and gas prices, technological improvements, government regulations, and overall energy demand. It is frequently regarded a subset of the larger industrial equipment market and is inextricably linked to the performance of the oil and gas industry as a whole.

• Published: May 2024

Mulch Films Industry - Forthcoming Trends to Fuel the Global Growth

In 2023, the mulch films market reached an estimated value of USD 7.8 billion and is anticipated to grow to USD 10.6 billion by 2028, reflecting a compound annual growth rate (CAGR) of 6.5% during the forecast period. This growth is primarily driven by the rising demand for mulch films, stemming from the imperative to enhance agricultural productivity, adopt sustainable farming practices, and adapt to climate change challenges.

• Published: May 2024

Automotive HUD Market Size & Share - Future Growth Expectations

The global automotive HUD market size is projected to grow from USD 1.0 billion in 2023 to USD 2.2 billion by 2028, at a CAGR of 16.6%. Factors such as increasing adoption of ADAS equipped vehicles, increasing demand for connected vehicles, and growing focus towards vehicle safety will increase the need for automotive HUD solutions to enhance the driving experience. Also, rising demand for semi-autonomous vehicles, and increasing adoption of electric vehicles are also expected to support the revenue growth of the automotive HUD market during the forecast period.

• Published: May 2024

Biorational Pesticides Market Size & Share - Future Growth Expectations

• Published: May 2024

Mulch Films Market Size & Share - Future Growth Expectations

In 2023, the mulch films market was valued at USD 7.8 billion, and it is expected to achieve USD 10.6 billion by 2028, showcasing a Compound Annual Growth Rate (CAGR) of 6.5% during the period from 2023 to 2028. This growth is predominantly driven by the escalating demand for mulch films, which is rooted in the imperative for heightened agricultural productivity, adoption of sustainable farming practices, and adaptation to climate change challenges.

• Published: May 2024

Switchgear Industry - Forthcoming Trends to Fuel the Global Growth

The global market for switchgear is projected to grow from an estimated USD 93.1 billion in 2023 to USD 119.9 billion by 2028, demonstrating a CAGR of 5.2% during this five-year period. The switchgear market refers to the global industry that manufactures, designs, distributes, and services switchgear equipment. Switchgear is essentially a collection of electrical disconnect switches, fuses, and circuit breakers used to control, protect, and isolate electrical devices. It is widely used in substations, power generation facilities, industrial plants, and commercial buildings to regulate electricity flow and safeguard electrical equipment from damage caused by overload, short circuits, or malfunctions.

• Published: May 2024

Biorational Pesticides Industry - Forthcoming Trends to Fuel the Global Growth

• Published: May 2024

Cultured Meat Industry - Forthcoming Trends to Fuel the Global Growth

The global cultured meat market is estimated at USD 272.4 million in 2023 and is projected to reach USD 6,169.6 million by 2034, at a CAGR of 33.3% from 2028 to 2034.

Furthermore, the market is anticipated to expand at a CAGR of 16.1% over the next five years. This growth is driven by increasing consumer preference for alternatives that mitigate ethical concerns and cruelty associated with traditional meat production. Moreover, health and safety considerations have fueled market growth. With modern consumers prioritizing health, there is a growing demand for meat products free from antibiotics, hormones, and foodborne pathogens. Cultured meat, produced under controlled and hygienic conditions, meets these preferences, driving its adoption and demand in the market.

• Published: May 2024

Cultured Meat Market Size & Share - Future Growth Expectations

The global cultured meat market is estimated at USD 272.4 million in 2023 and is projected to reach USD 6,169.6 million by 2034, at a CAGR of 33.3% from 2028 to 2034. Moreover, it is expected to maintain a CAGR of 16.1% over the next five years, driven by increasing consumer preference for alternatives that circumvent ethical concerns and animal cruelty associated with traditional meat production methods.

Furthermore, health and safety considerations are fueling market expansion. Modern consumers prioritize health and seek meat products devoid of antibiotics, hormones, and the risks of foodborne illnesses. Cultured meat, cultivated in controlled and sterile environments, meets these preferences, driving its demand in the market.

• Published: May 2024

Switchgear Market Size & Share - Future Growth Expectations

The switchgear market is estimated at USD 93.1 billion in 2023, with a projected growth to USD 119.9 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 5.2%. The switchgear market includes a wide range of switchgear types, including low voltage, medium voltage, and high voltage switchgear, as well as various configurations including air-insulated switchgear (AIS), gas-insulated switchgear (GIS), and others. Factors influencing the market include rising electricity consumption, increased investment in renewable energy infrastructure, the growth of power transmission and distribution networks, and technological advancements that result in more efficient and reliable switchgear systems.

• Published: May 2024

Blue Ammonia Industry - Emerging Trends to Fuel the Global Growth

The global blue ammonia market is expected to reach USD 7,664 million by 2030 from an estimated USD 78 million in 2023, at a CAGR of 62.3% during the forecast period. The major factors driving the growth of this market include the growing focus on reducing greenhouse gas emissions and increasing efforts toward empowering hydrogen economy.

• Published: May 2024

Top 10 High & Medium Voltage Products Industry - Forthcoming Trends to Fuel the Global Growth

The global top 10 high and medium voltage products market is projected to reach USD 349.7 billion by 2028 from an estimated USD 264.1 billion in 2023, at a CAGR of 5.8% during the forecast period. Factors like as the requirement for greater offshore wind energy capacity and growing investments in power grid infrastructure are driving demand for high and medium voltage products. Offshore wind farms require specialist transmission infrastructure, such as high voltage undersea cables and offshore substations.

• Published: May 2024

Wireless Charging Industry - Forthcoming Trends to Fuel the Global Growth

The wireless charging market is estimated to be worth USD 6.4 billion in 2024 and is projected to reach USD 16.0 billion by 2029 at a CAGR of 20.3% during the forecast period. The market growth for wireless charging is attributed to the increasing demand for wireless charging in electric vehicles, rising demand of smart and portable devices.

• Published: May 2024

Oil Immersed Power Transformer Market Size & Share - Future Growth Expectations

The global oil immersed power transformer market size is expected to reach USD 28.3 billion by 2028 from an estimated USD 21.2 billion in 2023, at a CAGR of 6.0% during the forecast period. The major factors driving the growth of this market include the rising electricity demand, ongoing infrastructure development, and industrialization worldwide.

• Published: May 2024

Wireless Charging Market Size & Share - Future Growth Expectations

The wireless charging market is estimated to be worth USD 6.4 billion in 2024 and is projected to reach USD 16.0 billion by 2029 at a CAGR of 20.3% during the forecast period. The market growth for wireless charging is attributed to the increasing demand for wireless charging in electric vehicles, rising demand of smart and portable devices.

• Published: May 2024

Hybrid Train Market Size & Share - Future Growth Expectations

The global hybrid train market is projected to grow from 412 units in 2023 to 446 units by 2030, registering a CAGR of 1.1%. The hybrid train market is witnessing a remarkable surge in demand, propelled by a combination of influential factors that are fundamentally reshaping the landscape of rail transportation. In a world marked by rapid urbanization and an escalating need for energy-efficient solutions, hybrid trains have emerged as a transformative force within the industry. This surge in demand is further reinforced by the unwavering commitment of governments and regulatory bodies to champion eco-friendly transportation alternatives, underscoring the critical importance of reducing carbon emissions. As urban areas continue to expand, and environmental concerns take center stage, hybrid trains are leading the charge toward a new era of cleaner, more efficient, and sustainable rail travel, expertly poised to meet the dynamic demands of the modern world.

• Published: May 2024

Automotive Green Tires Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive green tires market size is projected to grow from USD 11.5 billion in 2023 to USD 15.8 billion by 2028, at a CAGR of 6.5%. There is a rise in concern regarding the various factors affecting the fuel efficiency and emissions of greenhouse gases into the atmosphere. In order to combat this, governments across the globe have started several initiatives to reduce fuel consumption and release of greenhouse gases. The use of green tires will significantly work toward achieving these targets, as these tires help reduce CO2 emissions.

• Published: May 2024

Laminated Busbar Industry - Emerging Trends to Fuel the Global Growth

The global laminated busbar market is expected to reach USD 1,296 million by 2030 from an estimated USD 863 million in 2023, at a CAGR of 6.0% during the forecast period. The major factors driving the growth of this market include the infrastructure modernization, growing electricity demand, renewable energy projects, energy efficiency prioritization, technological advancements and adoption of electric vehicle.

• Published: May 2024

Laminated Busbar Market Size & Share - Future Growth Expectations

The global laminated busbar market size is expected to reach USD 1,296 million by 2030 from an estimated USD 863 million in 2023, at a CAGR of 6.0% during the forecast period. The major factors driving the growth of this market include the infrastructure modernization, growing electricity demand, renewable energy projects, energy efficiency prioritization, technological advancements and adoption of electric vehicle.

• Published: May 2024

Hybrid Train Industry - Forthcoming Trends to Fuel the Global Growth

The global hybrid train market is projected to grow from 412 units in 2023 to 446 units by 2030, registering a CAGR of 1.1%. The hybrid train market is witnessing a remarkable surge in demand, propelled by a combination of influential factors that are fundamentally reshaping the landscape of rail transportation. In a world marked by rapid urbanization and an escalating need for energy-efficient solutions, hybrid trains have emerged as a transformative force within the industry. This surge in demand is further reinforced by the unwavering commitment of governments and regulatory bodies to champion eco-friendly transportation alternatives, underscoring the critical importance of reducing carbon emissions. As urban areas continue to expand, and environmental concerns take center stage, hybrid trains are leading the charge toward a new era of cleaner, more efficient, and sustainable rail travel, expertly poised to meet the dynamic demands of the modern world.

• Published: May 2024

Automotive Green Tires Market Size & Share - Future Growth Expectations

The global automotive green tires market size is projected to grow from USD 11.5 billion in 2023 to USD 15.8 billion by 2028, at a CAGR of 6.5%. There is a rise in concern regarding the various factors affecting the fuel efficiency and emissions of greenhouse gases into the atmosphere. In order to combat this, governments across the globe have started several initiatives to reduce fuel consumption and release of greenhouse gases. The use of green tires will significantly work toward achieving these targets, as these tires help reduce CO2 emissions.

• Published: May 2024

Automotive Interior Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive interior market, by value, is estimated to be USD 157.4 billion in 2023 and is projected to reach USD 194.8 billion by 2028, at a CAGR of 4.4% from 2023 to 2028. In the near future, demand for automotive interior is expected  due rising customer preferences for comfort and luxury in vehicles.

• Published: May 2024

Battery Swapping Industry - Forthcoming Trends to Fuel the Global Growth

The battery swapping market is projected to grow from USD 1.7 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 46.9% during the forecast period. Battery swap systems come with integrated CAN (Controller Area Network) and IoT that make continuous tracking of batteries possible. BSOs (Battery swapping operators) utilize these tracking data to calculate current demand and distribute battery stock as efficiently as possible to their swap stations. The BSO can also record driver behavior and identify driving styles thanks to IoT patterns that affect the battery's rate of discharge. Additionally, this information can be used to create specialized subscription plans, insurance policies, and financial items about the vehicle.

• Published: May 2024

Automotive Interior Market Size & Share - Future Growth Expectations

The global automotive interior market, by value, is estimated to be USD 157.4 billion in 2023 and is projected to reach USD 194.8 billion by 2028, at a CAGR of 4.4% from 2023 to 2028. In the near future, demand for automotive interior is expected  due rising customer preferences for comfort and luxury in vehicles.

• Published: May 2024

Electric Powertrain Industry - Forthcoming Trends to Fuel the Global Growth

The electric powertrain market size is projected to reach USD 230.5 billion by 2030, from an estimated USD 96.7 billion in 2023, at a CAGR of 13.2%. The market is driven by factors such as an increased focus on the adoption of electric vehicles worldwide owing to the environmental benefits they offer and the strict government regulations that focus on reducing emissions emitted by conventional engines.

• Published: May 2024

Combined Heat and Power Industry - Forthcoming Trends and Their Impact on Industry Growth

The global combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The combined heat pump (CHP) market includes a variety of technologies, such as fuel cells, reciprocating engines, gas turbines, and steam turbines, and it caters to a wide range of applications in the commercial, industrial, and residential domains. The market size and growth are influenced by factors such as energy policies, environmental regulations, fuel prices, and technological advancements in CHP system efficiency and reliability.

• Published: May 2024

Virtual Power Plant Industry - Emerging Trends Fueling Market Growth

The global virtual power plant market is expected to reach USD 5.5 billion by 2029 from an estimated USD 1.9 billion in 2024, at a CAGR of 23.4% during the forecast period. The major factors driving the growth of this market include Seamless integration with renewable sources such as solar and wind, and need to mitigate impact of intermittent renewable sources.

• Published: May 2024

Virtual Power Plant Market Size, Share, Growth & Analysis

The global virtual power plant market size is expected to reach USD 5.5 billion by 2029 from an estimated USD 1.9 billion in 2024, at a CAGR of 23.4% during the forecast period. The major factors driving the growth of this market include Seamless integration with renewable sources such as solar and wind, and need to mitigate impact of intermittent renewable sources.

• Published: May 2024

Combined Heat and Power Market Size & Share - Global Future Growth Expectations

The global combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The combined heat pump (CHP) market includes a variety of technologies, such as fuel cells, reciprocating engines, gas turbines, and steam turbines, and it caters to a wide range of applications in the commercial, industrial, and residential domains. Energy policies, environmental laws, fuel pricing, and technological improvements in CHP system efficiency and dependability all have an impact on the market's size and growth.

• Published: May 2024

Remote Patient Monitoring Industry - Forthcoming Trends Leads to Great Future Impact

The global remote patient monitoring market is projected to reach USD 207.5 billion by 2028 from USD 71.9 billion in 2023, at a CAGR of 23.6% between 2023 and 2028. The aging population and the increasing need for healthcare access are driving the growth of the telehealth and remote patient monitoring (RPM) market. Telehealth and RPM offer cost benefits and can reduce the burden on medical resources. However, regulatory variations across regions may restrain market growth.

• Published: May 2024

EV Connector Industry - Forthcoming Trends to Fuel the Global Growth

The global EV connector market is projected to grow from USD 2.0 Billion in 2023 to USD 10.9 Billion by 2030, registering a CAGR of 27.1%. A combination of implementation of advanced technologies, environmental concerns, supportive government policies, and the growing popularity of electric vehicles among consumers drives the increasing demand for EV connectors. ADAS features like parking sensors, lane departure warning, and adaptive cruise control rely on high-speed data transmission, requiring advanced connectors. Touchscreen displays, navigation systems, and internet connectivity create a surge in EV connectors for infotainment systems. Miniaturized, multi-functional connectors with audio/video and data capabilities are in high demand.

• Published: May 2024

EV Connector Market Size & Share - Future Growth Expectations

The global EV connector market is projected to grow from USD 2.0 Billion in 2023 to USD 10.9 Billion by 2030, registering a CAGR of 27.1%. A combination of implementation of advanced technologies, environmental concerns, supportive government policies, and the growing popularity of electric vehicles among consumers drives the increasing demand for EV connectors. ADAS features like parking sensors, lane departure warning, and adaptive cruise control rely on high-speed data transmission, requiring advanced connectors. Touchscreen displays, navigation systems, and internet connectivity create a surge in EV connectors for infotainment systems. Miniaturized, multi-functional connectors with audio/video and data capabilities are in high demand.

• Published: May 2024

Electric Construction Equipment Industry - Forthcoming Trends to Fuel the Global Growth

The electric construction equipment market is estimated to grow from USD 10.2 billion in 2023 to USD 44.8 billion by 2030 at a CAGR of 23.6% over the forecast period. The growing stringency in emission regulations primarily drives the growth of this market, reduced ventilation costs in underground mining due to electric equipment, and the preference for the low noise construction machines in residential areas.

• Published: May 2024

Electric Construction Equipment Market Size & Share - Future Growth Expectations

The electric construction equipment market is estimated to grow from USD 10.2 billion in 2023 to USD 44.8 billion by 2030 at a CAGR of 23.6% over the forecast period. The growing stringency in emission regulations primarily drives the growth of this market, reduced ventilation costs in underground mining due to electric equipment, and the preference for the low noise construction machines in residential areas.

• Published: May 2024

Sensor Fusion Industry for Automotive - Forthcoming Trends to Fuel the Global Growth

The global sensor fusion market for automotive is projected to grow from USD 0.3 billion in 2023 to USD 3.3 billion by 2030, registering a CAGR of 42.4%. The market has witnessed unprecedented growth in recent years, signaling a remarkable shift towards safer and more sustainable transportation solutions worldwide. Regulatory mandates for safety features, autonomous driving development, and consumer expectations for enhanced safety and comfort has been a driving force behind the growth of sensor fusion market for automotive. Market is further driven by rising demand for advanced ADAS features in vehicles such as adaptive cruise control, lane departure warning, and automatic emergency braking.

• Published: May 2024

Remote Patient Monitoring Market Size & Share - Global Future Growth Expectations

The global remote patient monitoring market is projected to reach USD 207.5 billion by 2028 from USD 71.9 billion in 2023, at a CAGR of 23.6% between 2023 and 2028. The aging population and the increasing need for healthcare access are driving the growth of the telehealth and remote patient monitoring (RPM) market. Telehealth and RPM offer cost benefits and can reduce the burden on medical resources. However, regulatory variations across regions may restrain market growth.

• Published: May 2024

Sensor Fusion Market for Automotive Size & Share - Future Growth Expectations

The global sensor fusion market for automotive is projected to grow from USD 0.3 billion in 2023 to USD 3.3 billion by 2030, registering a CAGR of 42.4%. The market has witnessed unprecedented growth in recent years, signaling a remarkable shift towards safer and more sustainable transportation solutions worldwide. Regulatory mandates for safety features, autonomous driving development, and consumer expectations for enhanced safety and comfort has been a driving force behind the growth of sensor fusion market for automotive. Market is further driven by rising demand for advanced ADAS features in vehicles such as adaptive cruise control, lane departure warning, and automatic emergency braking.

• Published: May 2024

eFuse Industry - Forthcoming Trends and Their Impact on Industry Growth

The eFuse market is projected to reach USD 881 million by 2035 from an estimated USD 703 million in 2030, at a CAGR of 4.6% during the forecast period. The eFuse industry encompasses manufacturers, suppliers, and developers involved in designing, producing, and distributing electronic fuse solutions to meet the demands of modern electronic systems. With the increasing complexity and miniaturization of electronic devices, the eFuse industry plays a significant role in ensuring the safety and reliability of these systems.

• Published: May 2024

eFuse Market Size & Share - Global Future Growth Expectations

The eFuse market is projected to reach USD 881 million by 2035 from an estimated USD 703 million in 2030, at a CAGR of 4.6% during the forecast period. The designers, producers, and developers of electronic fuse solutions that satisfy the requirements of contemporary electronic systems are together referred to as the eFuse industry. The eFuse sector is vital to maintaining the dependability and safety of these systems because of the growing complexity and downsizing of electronic devices.

• Published: May 2024

Point of Care Diagnostics Industry - Forthcoming Market Trends

The global point-of-care diagnostics market is expected to reach USD 77.8 billion by 2028 from an estimated USD 49.7 billion in 2023, at a CAGR of 9.4% from 2023 to 2028.

• Published: May 2024

Point of Care Diagnostics Market Size & Share - Global Future Growth Expectations

The global point-of-care diagnostics market is expected to reach USD 77.8 billion by 2028 from an estimated USD 49.7 billion in 2023, at a CAGR of 9.4% from 2023 to 2028.

• Published: May 2024

Oil Immersed Power Transformer Industry - Emerging Trends to Fuel the Global Growth

The global oil immersed power transformer market is expected to reach USD 28.3 billion by 2028 from an estimated USD 21.2 billion in 2023, at a CAGR of 6.0% during the forecast period. The major factors driving the growth of this market include the rising electricity demand, ongoing infrastructure development, and industrialization worldwide.

• Published: May 2024

Electric Powertrain Market Size & Share - Future Growth Expectations

The electric powertrain market size is projected to reach USD 230.5 billion by 2030, from an estimated USD 96.7 billion in 2023, at a CAGR of 13.2%. The market is driven by factors such as an increased focus on the adoption of electric vehicles worldwide owing to the environmental benefits they offer and the strict government regulations that focus on reducing emissions emitted by conventional engines.

• Published: May 2024

Battery Swapping Market Size & Share - Future Growth Expectations

The battery swapping market is projected to grow from USD 1.7 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 46.9% during the forecast period. Battery swap systems come with integrated CAN (Controller Area Network) and IoT that make continuous tracking of batteries possible. BSOs (Battery swapping operators) utilize these tracking data to calculate current demand and distribute battery stock as efficiently as possible to their swap stations. The BSO can also record driver behavior and identify driving styles thanks to IoT patterns that affect the battery's rate of discharge. Additionally, this information can be used to create specialized subscription plans, insurance policies, and financial items about the vehicle.

• Published: May 2024

EV Cables Industry - Forthcoming Trends to Fuel the Global Growth

The global EV cables market is projected to grow at a CAGR of 17.2% during the forecast period, to reach USD 19.0 billion by 2028 from an estimated USD 8.6 billion in 2023. Factors such as increasing focus of automakers to introduce fuel-efficient vehicles and stringent emissions norms would drive the growth of the market. The electric vehicle (EV) industry is experiencing remarkable growth, propelled by advancements in technology and the increasing demand for sustainable transportation solutions. As EVs gain popularity worldwide, the market for EV cables is witnessing a surge in demand. EV cables play a crucial role in charging infrastructure, ensuring efficient power transmission and reliable connectivity between charging stations and electric vehicles.

• Published: May 2024

EV Cables Market Size & Share - Future Growth Expectations

The global EV cables market is projected to grow at a CAGR of 17.2% during the forecast period, to reach USD 19.0 billion by 2028 from an estimated USD 8.6 billion in 2023. Factors such as increasing focus of automakers to introduce fuel-efficient vehicles and stringent emissions norms would drive the growth of the market. The electric vehicle (EV) industry is experiencing remarkable growth, propelled by advancements in technology and the increasing demand for sustainable transportation solutions. As EVs gain popularity worldwide, the market for EV cables is witnessing a surge in demand. EV cables play a crucial role in charging infrastructure, ensuring efficient power transmission and reliable connectivity between charging stations and electric vehicles.

• Published: May 2024

Brushless DC Motor Industry - Emerging Trends Impacting Global Growth

The global brushless DC motor market is expected to reach USD 17.6 billion by 2028 from an estimated USD 12.1 billion in 2023, at a CAGR of 7.9% during the forecast period. The major factors driving the growth of this market include the rise of electric vehicles, drones, and robotics.

• Published: May 2024