Research Insight

ADAS Industry - Forthcoming Trends to Fuel the Global Growth

The global ADAS market size is projected to grow from USD 23.57 billion in 2026 to USD 58.84 billion by 2033, at a CAGR of 14.0%.. Factors such as safety regulations imposed by lawmakers, including adaptive emergency braking and tire pressure monitoring systems in vehicles, technological advancement in ADAS, and rising demand for semi-autonomous and autonomous vehicles are expected to increase the demand for ADAS.

• Published: May 2024

ADAS Market Size & Share - Future Growth Expectations

The global ADAS market size is projected to grow from USD 23.57 billion in 2026 to USD 58.84 billion by 2033, at a CAGR of 14.0%. Factors such as safety regulations imposed by lawmakers, including adaptive emergency braking and tire pressure monitoring systems in vehicles, technological advancement in ADAS, and rising demand for semi-autonomous and autonomous vehicles are expected to increase the demand for ADAS.

• Published: May 2024

Automotive Filters Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive filters market is projected to grow from USD 12.9 billion in 2024 to USD 14.6 billion by 2030, at a CAGR of 2.1% during the forecast period. Increased stringent emission & fuel economy norms, rise in electric & hybrid vehicle sales, and growing vehicle parc and increase in average miles driven annually are expected to be key factors driving the automotive filters market.

• Published: May 2024

Automotive Filters Market Size & Share - Future Growth Expectations

The global automotive filters market is projected to grow from USD 12.9 billion in 2024 to USD 14.6 billion by 2030, at a CAGR of 2.1% during the forecast period. Increased stringent emission & fuel economy norms, rise in electric & hybrid vehicle sales, and growing vehicle parc and increase in average miles driven annually are expected to be key factors driving the automotive filters market.

• Published: May 2024

OTR Tires Industry - Forthcoming Trends to Fuel the Global Growth

The OTR tires market is estimated to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2030 at a CAGR of 6.5% during the forecast period. Increasing demand for off-highway vehicles due to increased infrastructure development activities, higher demand for mining products, and improved agricultural mechanization. With these, the average work hours for this equipment have also increased, leading to growth and advancements in the OTR tires OE and aftermarket.

• Published: May 2024

OTR Tires Market Size & Share - Future Growth Expectations

The OTR tires market is estimated to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2030 at a CAGR of 6.5% during the forecast period. Increasing demand for off-highway vehicles due to increased infrastructure development activities, higher demand for mining products, and improved agricultural mechanization. With these, the average work hours for this equipment have also increased, leading to growth and advancements in the OTR tires OE and aftermarket.

• Published: May 2024

Industrial Vehicles Industry - Forthcoming Trends to Fuel the Global Growth

The global industrial vehicles market size is projected to grow from USD 43.1 Billion in 2024 to USD 56.7 Billion by 2030, at a CAGR of 4.6%. The industrial vehicles market is expected to rise in the coming years due to increasing automation and adoption of advanced technologies, driving demand for specialized vehicles for various industrial applications. Additionally, growing infrastructure development projects and expanding manufacturing sectors worldwide fuel the need for efficient material handling and transportation solutions, further propelling the growth of the industrial vehicles market during the forecast period.

• Published: May 2024

Electric Mid- and Large (9-14m) Bus Industry - Forthcoming Trends to Fuel the Global Growth

The electric mid- and large (9-14m) bus market is projected to cross 171,000 units by 2030 from an estimated 66,593 units in 2023, at a CAGR of 14.4% during the forecast period. The base year for the report is 2022, and the forecast period is 2023 to 2030. The market is expected to witness rapid growth due to the increasing government policies to reduce GHG emissions, and advances in battery technology, reducing costs with improved range, would enhance the growth of electric mid- and large buses.

• Published: May 2024

Industrial Vehicles Market Size & Share - Future Growth Expectations

The global industrial vehicles market size is projected to grow from USD 43.1 Billion in 2024 to USD 56.7 Billion by 2030, at a CAGR of 4.6%. The industrial vehicles market is expected to rise in the coming years due to increasing automation and adoption of advanced technologies, driving demand for specialized vehicles for various industrial applications. Additionally, growing infrastructure development projects and expanding manufacturing sectors worldwide fuel the need for efficient material handling and transportation solutions, further propelling the growth of the industrial vehicles market during the forecast period.

• Published: May 2024

Plant Growth Regulators Industry - Forthcoming Trends to Fuel the Global Growth

The global plant growth regulator market is expected to grow from $3.72 billion in 2026 to $5.33 billion by 2031. The surge in demand for high-value crops is driving increased usage of natural plant growth regulators in agriculture. This is supported by a rising call for sustainable agricultural practices and the upsurge in organic farming, which are contributing to the market's growth. Shifting dietary preferences and the focus on sustainable agriculture are further accelerating market expansion. In essence, these developments underscore the growing importance and adoption of plant growth regulators in modern agriculture, fostering market growth.

• Published: May 2024

Inverter Market Size & Share - Global Future Growth Expectations

The inverter market is expected to grow from an estimated USD 39.6 billion by 2028 from an estimated USD 18.9 billion in 2023, at a CAGR of 16.0% during the forecast period. The requirement for grid stability, the increasing use of renewable energy sources, and technological developments are some of the factors driving the market's expansion. To address changing customer demands and promote a more sustainable future, major firms are concentrating on product innovation. One example of this is the creation of smart inverters with sophisticated monitoring and control features.

• Published: May 2024

Plant Growth Regulators Market Size & Share - Future Growth Expectations

The global plant growth regulator market is expected to grow from USD 3.72 billion in 2026 to USD 5.33 billion by 2031. The rising demand for high-value crops is driving increased utilization of natural plant growth regulators in agriculture. This uptick is supported by the increasing necessity for sustainable agricultural practices and the surge in organic farming, both contributing to the market's expansion.

• Published: May 2024

Instrument Transformers Industry - Forthcoming Trends to Fuel the Global Growth

The global instrument transformers market is projected to grow from an estimated USD 7.1 billion in 2023 to USD  10.6 billion by 2030, demonstrating a CAGR of 5.8% during the forecasted period. Grid modernization, the integration of renewable energy sources, and the rising demand for electricity are the main drivers of the industry, and technological and infrastructural breakthroughs are expected to drive further expansion.

• Published: May 2024

Automotive Telematics Market Size & Share - Future Growth Expectations

The Automotive Telematics market is projected to grow from an estimated USD 9.0 billion in 2024 to reach USD 16.1 billion by 2030 at a CAGR of 10.1% during the forecast period. This growth is driven by the growing collaborations and tie-ups among OEMs and telematics service providers and the launches of upcoming vehicles equipped with embedded telematics for enhanced safety and comfort. Increasing awareness about on-road safety and demand for advanced telematics services is fueling the demand for automotive telematics.

• Published: May 2024

Recycling Water Filtration Industry - Impact of Emerging Trends on Future Growth

The recycling water filtration market is projected to reach USD 3.8 billion by 2028 from an estimated USD 2.7 billion in 2023, at a CAGR of 7.5% during the forecast period. The industry that develops, produces, and distributes systems and technologies intended to purify and recycle water for use in a variety of settings, including municipal, industrial, and agricultural operations, is known as the recycling water filtration market. In order to solve water scarcity and environmental problems, it includes a broad range of filtration techniques and technologies designed to purify wastewater or dirty water to make it reusable.

• Published: May 2024

Functional Food Ingredients Market Size & Share - Future Growth Expectations

The global functional food ingredients market size is valued at USD 119.2 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 165.8 billion by 2029, indicating a robust compound annual growth rate (CAGR) of 6.8% during the forecast period. Escalating consumer awareness regarding health and wellness has significantly bolstered the demand for the functional food ingredients market. The prevalence of lifestyle diseases such as obesity, diabetes, and cardiovascular issues has propelled individuals to prioritize healthier dietary choices.

• Published: May 2024

Recycling Water Filtration Market Size & Share - Global Future Growth Expectations

The Recycling Water Fltration Market is projected to reach USD 3.8 billion by 2028 from an estimated USD 2.7 billion in 2023, at a CAGR of 7.5% during the forecast period. The industry devoted to the development, marketing, and upkeep of water purification and recycling technologies and systems is known as the Recycling Water Filtration Market. This market includes a range of filtration techniques and technologies intended to clean up wastewater or contaminated water so that it can be used again for municipal, industrial, and agricultural uses. By offering strategies for preserving and recycling water supplies while minimizing negative environmental effects, it responds to the expanding worldwide need for clean water.

• Published: May 2024

V2X Cybersecurity Industry - Forthcoming Trends to Fuel the Global Growth

The V2X cybersecurity market is projected to grow from USD 43 million in 2023 to USD 778 million by 2030, at a CAGR of 51.3%. The demand for V2X cybersecurity solutions is expected to increase significantly, driven by increasing demand for fully autonomous driving and escalating concerns regarding vehicle safety. The significantly growing global automotive V2X market further bolsters its expansion. Robust governmental support for V2X technology and advancements in 5G technology are foreseen to create novel opportunities within the V2X cybersecurity market.

• Published: May 2024

V2X Cybersecurity Market Size & Share - Future Growth Expectations

The V2X cybersecurity market is projected to grow from USD 43 million in 2023 to USD 778 million by 2030, at a CAGR of 51.3%. The demand for V2X cybersecurity solutions is expected to increase significantly, driven by increasing demand for fully autonomous driving and escalating concerns regarding vehicle safety. The significantly growing global automotive V2X market further bolsters its expansion. Robust governmental support for V2X technology and advancements in 5G technology are foreseen to create novel opportunities within the V2X cybersecurity market.

• Published: May 2024

Functional Food Ingredients Industry - Forthcoming Trends to Fuel the Global Growth

The global functional food ingredients industry is valued at USD 119.2 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 165.8 billion by 2029, indicating a robust compound annual growth rate (CAGR) of 6.8% during the forecast period. Escalating consumer awareness regarding health and wellness has significantly bolstered the demand for the functional food ingredients market. The prevalence of lifestyle diseases such as obesity, diabetes, and cardiovascular issues has propelled individuals to prioritize healthier dietary choices.

• Published: May 2024

Recloser Industry - Forthcoming Trends to Fuel the Global Growth

The global recloser market is estimated at USD 1.1 billion in 2024, with a projected growth to USD 1.5 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.0%. The need to update outdated grid systems, rising investments in power infrastructure, and the growing need for a steady supply of energy are the factors propelling the recloser industry. The development of this market is also being influenced by technological breakthroughs, such as the incorporation of smart grid capabilities into recloser systems.

• Published: May 2024

Gas Engine Industry - Emerging Trends to Fuel the Global Growth

The global gas engine market is expected to reach USD 6.3 billion by 2029 from USD 5.1 billion in 2024, at a CAGR of 4.5% during the forecast period. The major factors driving the growth of this market include growing emphasis on cleaner energy sources and sustainability initiatives, leading to increased adoption of gas-powered engines as an alternative to traditional fossil fuel-based options.

• Published: May 2024

Gas Engine Market Size & Share - Future Growth Expectations

The global gas engine market size is expected to reach USD 6.3 billion by 2029 from USD 5.1 billion in 2024, at a CAGR of 4.5% during the forecast period. The major factors driving the growth of this market include growing emphasis on cleaner energy sources and sustainability initiatives, leading to increased adoption of gas-powered engines as an alternative to traditional fossil fuel-based options.

• Published: May 2024

Recloser Market Size & Share - Future Growth Expectations

The global recloser market is estimated at USD 1.1 billion in 2024, with a projected growth to USD 1.5 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.0%. There are several different varieties of reclosers available on the market, each with unique benefits and uses, including as vacuum, electronic, and hydraulic models. The need to update outdated grid systems, rising investments in power infrastructure, and the growing need for a steady supply of energy are the factors propelling the recloser industry. The development of this market is also being influenced by technological breakthroughs, such as the incorporation of smart grid capabilities into recloser systems.

• Published: May 2024

Electric Mid- and Large (9-14m) Bus Size & Share - Future Growth Expectations

The electric mid- and large (9-14m) bus market is projected to cross 171,000 units by 2030 from an estimated 66,593 units in 2023, at a CAGR of 14.4% during the forecast period. The base year for the report is 2022, and the forecast period is 2023 to 2030.The market is expected to witness rapid growth due to the increasing government policies to reduce GHG emissions, and advances in battery technology, reducing costs with improved range, would enhance the growth of electric mid- and large buses.

• Published: May 2024

Beta-Glucan Market Size & Share - Future Growth Expectations

The beta-glucan market size is estimated at USD 542 million in 2024; it is projected to grow at a CAGR of 8.1% to reach USD 800 million by 2029. The growing need for nutritional supplements stems from urbanization and the hectic pace of modern life. Consequently, food additives are incorporated into food products to enhance their nutritional value without posing any adverse effects. 

• Published: May 2024

Americas Cables Industry - Impact of Emerging Trends on Future Growth

The Americas Cables market is projected to reach USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period. The cables market in the Americas is significant due to the region's diverse industrial landscape, including sectors such as telecommunications, energy, manufacturing, construction, and transportation. Factors driving this market include infrastructure development, technological advancements, increasing demand for high-speed internet and data transmission, urbanization, and industrialization.

• Published: May 2024

Beta-Glucan Industry - Forthcoming Trends to Fuel the Global Growth

• Published: May 2024

Rodenticides Market Size & Share - Future Growth Expectations

The rodenticides market is projected to reach USD 7.7 billion by 2029 from USD 5.8 billion by 2024, at a CAGR of 5.9% during the forecast period in terms of value. The rodenticides industry is undergoing rapid growth due to a variety of factors. The expansion of urban areas and industries typically leads to a rise in rodent populations, driven by factors like heightened waste production and habitat disruption. Consequently, this increases the demand for rodenticides to manage these pest infestations. Similarly, fluctuations in weather conditions, including temperature, precipitation, and seasonal changes, can impact rodent populations by influencing their breeding patterns and habitat selection. Instances of extreme weather events may further increase rodent activity, consequently affecting the demand for rodenticides.

• Published: May 2024

Americas Cables Market Size & Share - Future Growth Expectations

The Americas Cables market is expected to grow from an estimated USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period. The cables market in the Americas is significant due to the region's diverse industrial landscape, including sectors such as telecommunications, energy, manufacturing, construction, and transportation. Factors driving this market include infrastructure development, technological advancements, increasing demand for high-speed internet and data transmission, urbanization, and industrialization.

• Published: May 2024

Automotive Smart Antenna Industry - Forthcoming Trends to Fuel the Global Growth

The automotive smart antenna market is estimated to grow from USD 2.5 billion in 2023 to USD 5.2 billion by 2030 at a CAGR of 10.9% during the forecast period. The automotive smart antenna market is growing due to increased demand for connected car & in-vehicle infotainment features in autonomous and electric vehicles, which is projected to boost the adoption of smart antennas during the forecast period. Automotive smart antennas offer better data transfer and are compatible with 5G technology, making them suitable for future vehicles. Hence, these factors are driving the automotive smart antenna market.

• Published: May 2024

Heat Pump Industry - Emerging Trends and Opportunities

The global heat pump market is expected to reach USD 157.8 billion by 2029 from USD 90.1 billion in 2024, at a CAGR of 11.8% during the forecast period. The major factors driving the growth of this market include Stringent regulations aimed at reducing greenhouse gas emissions and promoting energy efficiency drive the adoption of heat pumps, which are more energy-efficient than traditional heating and cooling systems.

• Published: May 2024

Organic Soy Protein Isolates Market Size & Share - Future Growth Expectations

The organic soy protein isolates market, currently valued at USD 197 million in 2024 and poised to achieve a 5.4% CAGR, reaching USD 257 million by 2029, is experiencing transformative shifts and innovations. The organic soy protein market represents a dynamic and diverse sector within the food industry, encompassing products like organic soy protein isolate. In recent times, there has been a consistent surge in the demand for organic soy protein products, driven by various factors, and this upward trajectory appears to continue.

• Published: May 2024

Heat Pump Market Size, Share, Growth Analysis & Forecast

The global heat pump market size is expected to reach USD 157.8 billion by 2029 from USD 90.1 billion in 2024, at a CAGR of 11.8% during the forecast period. The major factors driving the growth of this market include Stringent regulations aimed at reducing greenhouse gas emissions and promoting energy efficiency drive the adoption of heat pumps, which are more energy-efficient than traditional heating and cooling systems.

• Published: May 2024

Egg Processing Market Size & Share - Future Growth Expectations

The egg processing market is estimated at USD 33.3 billion in 2024 and is projected to reach USD 41.9 billion by 2029, at a CAGR of 4.7% from 2024 to 2029. The egg processing industry is experiencing significant growth, driven by several factors such as rising awareness of protein-rich diets, growth in the foodservice industry, and Improved processing technologies. The growing popularity of high-protein diets and ketogenic diets has increased demand for egg whites, which are a concentrated source of protein with very little fat. Additionally, improvements in processing techniques such as pasteurization and spray drying enhance shelf life and safety, making egg products more accessible and appealing to a wider audience. This creates a lucrative market with immense potential for growth and innovation.

• Published: May 2024

Automotive Smart Antenna Market Size & Share - Future Growth Expectations

The automotive smart antenna market is estimated to grow from USD 2.5 billion in 2023 to USD 5.2 billion by 2030 at a CAGR of 10.9% during the forecast period. The automotive smart antenna market is growing due to increased demand for connected car & in-vehicle infotainment features in autonomous and electric vehicles, which is projected to boost the adoption of smart antennas during the forecast period. Automotive smart antennas offer better data transfer and are compatible with 5G technology, making them suitable for future vehicles. Hence, these factors are driving the automotive smart antenna market.

• Published: May 2024

Kombucha Market Size & Share - Future Growth Expectations

The kombucha market is estimated at USD 2.4 billion in 2024 and is projected to reach USD 5.9 billion by 2029, at a CAGR of 19.4 % from 2024 to 2029. The growth of the kombucha market has been fuelled by various factors. Firstly, its perceived health benefits, including probiotic properties that promote gut health, have attracted health-conscious consumers seeking functional beverages. Additionally, as people become more mindful of sugar consumption, kombucha's low-sugar content serves as a healthier alternative to sweetened beverages. The beverage's diverse range of Flavors caters to varying tastes, while its vegan and gluten-free nature aligns with dietary preferences. Moreover, kombucha's sustainability and environmental friendliness appeal to consumers concerned about the ecological impact of their choices.

• Published: May 2024

Genomics Market Size & Share - Global Future Growth Expectations

The genomics market is projected to reach USD 83.1 billion by 2028 from USD 46.2 billion in 2023, at a CAGR of 12.4% during the forecast period of 2023 to 2028. Governments in various countries have made significant investments in the field of genomics, also rising prevalence of diseases globally, coupled with the proven efficacy of PCR analysis in diagnosing and estimating disease-causing microbes, is likely to boost the use of clinical diagnostic tests and support market growth.

• Published: May 2024

Engineered Wood Adhesives Companies - AICA Kogyo Co., Ltd (Japan) and Hexion (US) are Leading players in the Engineered Wood Adhesives Market

The global engineered wood adhesives market size is projected to grow from USD 8.7 billion in 2024 to USD 10.5 billion in 2029, at a CAGR of 3.7%. The propulsion of this market growth is largely attributed to the burgeoning demand from the wooden house construction sector.

• Published: May 2024

Generator Industry - Set to Reach New Heights in Response to Increasing Energy Needs

The generator market is expected to reach USD 34.5 billion in 2030 from USD 23.1 billion in 2023, at a CAGR of 5.9% during the forecast period. The major factors driving the growth of this market include the uninterrupted power supply, industrialization, urbanization, and population growth, has led to a significant increase in power generation capacity worldwide.

 

• Published: May 2024

Generator Market Size & Share - Future Growth Expectations

The generator market is expected to reach USD 34.5 billion in 2030 from USD 23.1 billion in 2023, at a CAGR of 5.9% during the forecast period.

• Published: May 2024

Diesel Generator Industry - Emerging Trends to Fuel the Global Growth

The global diesel generator market is expected to grow from an estimated USD 17.9 billion in 2024 to USD 23.4 billion by 2029, at a CAGR of 5.4% during the forecast period. Diesel generators are known for their long lifespan and robust construction, which enable them to run continuously during emergencies for longer periods of time. Diesel generators are essential because they provide reliable and constant source of electricity during power outages and emergencies.

• Published: May 2024

EV Charging Station Industry - Trends and Insights in the EV Charging Infrastructure Industry

The EV Charging Station Market is projected to grow from USD 7.3 billion in 2024 to USD 12.1 billion by 2030, at a CAGR of 8.8%. The demand for EV Charging solutions is expected to increase significantly, driven by government policies and subsidies to expedite the setup of EV charging infrastructure. The limited driving range of EVs further highlights the need for vast charging infrastructure development. Additionally, the decreasing price of EVs in the global market is anticipated to fuel both EV sales and the demand for EV charging stations. Innovations such as vehicle-to-grid (V2G) EV charging stations will also drive the EV charging station market.

• Published: May 2024

Sweeteners Industry - Forthcoming Trends to Fuel the Global Growth

The global sweeteners market is anticipated to achieve a valuation of USD 125.1 billion by 2028, up from USD 107.2 billion in 2023, marking a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period spanning from 2023 to 2028. This growth trajectory is attributed to the widespread use of sweeteners across diverse sectors, including food, beverage, personal care, and pharmaceuticals. Sweeteners play a pivotal role in the food industry by enhancing the taste and sweetness of various products such as bakery items, confectioneries, and dairy products.

• Published: May 2024

EV Charging Station Size & Share - Future Growth Expectations

The EV Charging Station market is projected to grow from USD 7.3 billion in 2024 to USD 12.1 billion by 2030, at a CAGR of 8.8%. The demand for EV Charging solutions is expected to increase significantly, driven by government policies and subsidies to expedite the setup of EV charging infrastructure. The limited driving range of EVs further highlights the need for vast charging infrastructure development. Additionally, the decreasing price of EVs in the global market is anticipated to fuel both EV sales and the demand for EV charging stations. Innovations such as vehicle-to-grid (V2G) EV charging stations will also drive the EV charging station market.

• Published: May 2024

Diagnostic Imaging Industry - This is How Emerging Trends Impacting Global Growth

The global diagnostic imaging market is projected to reach USD 34.6 billion by 2028 from USD 26.5 billion in 2023, at a CAGR of 5.5% from 2023 to 2028. The rising prevalence of targeted diseases and increasing technological advancements fuel the market growth.

• Published: May 2024

Diesel Generator Market Size & Share - Growth Analysis

The diesel generator market is expected to reach USD 23.4 billion by 2029 from an estimated USD 17.9 billion in 2024, at a CAGR of 5.4% during the forecast period. The major factors driving the growth of this market include the increasing demand for reliable backup power sources, increasing construction costs due to developing industrial infrastructures, and rapidly growing infrastructure development across emerging economies.

• Published: May 2024

Nutraceutical Excipients Market Share - Global Industry Landscape

The nutraceutical excipients market is projected to reach USD 6.1 billion by 2028 from USD 4.2 billion by 2023, at a CAGR of 7.7% during the forecast period in terms of value. The nutraceutical excipients market are anticipated to witness significant growth in the coming years. This growth is expected to be driven by various factors such as increasing consumer awareness regarding health and wellness, rising demand for functional foods and dietary supplements, and advancements in the pharmaceutical industry.

One of the key drivers for the growth of the nutraceutical excipients market is the growing aging population globally, coupled with the rising prevalence of chronic diseases. As people become more health-conscious, there is a growing demand for nutraceutical products that offer health benefits beyond basic nutrition. Excipients play a crucial role in the formulation of these products, helping to enhance their stability, bioavailability, and overall effectiveness.

• Published: May 2024

Diagnostic Imaging Market Size & Share - Future Growth Prospective

The global diagnostic imaging market is projected to reach USD 34.6 billion by 2028 from USD 26.5 billion in 2023, at a CAGR of 5.5% from 2023 to 2028. The rising prevalence of targeted diseases and increasing technological advancements fuel the market growth.

• Published: May 2024

Top Companies in AI in Chemicals - Microsoft (US), Schneider Electric (France)

The AI in chemicals market is expected to grow from USD 0.7  billion in 2024 to USD 3.8 billion in 2029, at a CAGR of 39.2%  during the forecast period. The AI in chemicals market is experiencing a significant shift with the growing integration of AI in R&D, driven by the need for innovation and efficiency. There is a rising demand for AI-enhanced chemical process optimization, fueled by the industry's quest for cost-effectiveness and sustainability.

• Published: May 2024