Research Insight

Electric Ship Companies - ABB (Switzerland) and Wartsila (Finland) are the Key Players

The electric ship market is expected to reach USD 18.39 billion by 2032, from USD 4.85 billion in 2025, with a CAGR of 21.0%. The market is driven by stringent emission regulations, high fuel costs, and the shift toward sustainable maritime operations. It encompasses the design, development, and integration of fully electric and hybrid propulsion systems, batteries, fuel cells, and related charging infrastructure. These technologies enable vessel operators to reduce emissions and operating costs without compromising reliability. Growth is further supported by government initiatives, port electrification programs, and demand across passenger, cargo, offshore, and defense segments.

• Published: March 2023

Utility Markers Companies - Deere & Company (US) and Trimble Inc. (US) are the Key Players

The global utility markers market size is expected to grow from USD 341 million in 2023 to USD 471 million by 2028, at a CAGR of 6.7% from 2023 to 2028.  The electronic utility markers provide accurate and reliable information about underground utility locations, due to which they ensure safety for property and general public. This reduces the risk of accidents and damage to underground utilities. 

• Published: March 2023

Top Companies in Biomass Power Generation Industry - ENGIE (France), Xcel Energy Inc. (US) and EPH (Czechia)

The global biomass power generation market is projected to reach USD 105.7 billion by 2028 from an estimated USD 91.3 billion in 2023, at a CAGR of 3.0% during the forecast period. Factors such as the need of electrification in rural areas and investments in renewable energy projects are driving the growth of the biomass power generations market.

• Published: March 2023

Food Preservatives Industry - Upcoming Growth Trends in the Global Market

Estimated at US$ 3.3 billion in 2022, the size of the worldwide food preservatives market is expected to increase at a compound annual growth rate (CAGR) of 3.0% from US$ 3.4 billion in 2023 to US$ 3.9 billion by 2028.

• Published: March 2023

Food Preservatives Market Size & Share - Future Growth Prediction

The food preservatives market size was estimated at US$ 3.3 billion in 2022 and is expected to increase at a compound annual growth rate (CAGR) of 3.0% from US$ 3.4 billion in 2023 to US$ 3.9 billion by 2028.

• Published: March 2023

Leading Food Preservatives Companies: Strategies for Market Dominance

The global food preservatives market is estimated to be valued at USD 3.4 billion in 2023. It is projected to reach USD 3.9 billion by 2028, recording a CAGR of 3.0% during the forecast period. The food and beverage processing industry has an impact on the market for food preservatives, and is also driven by consumer tastes and trends. In recent years, there has been significant changes in the market and is anticipated to undergo significant modifications in food preservation.

• Published: March 2023

Thermoplastic Polyurethane (TPU) Companies - BASF SE (Germany), The Lubrizol Corporation (US) are Leading Players in the Thermoplastic Polyurethane (TPU) Market

The TPU market is projected to reach USD 4.6 billion by 2027, at a CAGR of 7.1% from USD 3.2 billion in 2022. The market growth is driven by influencing factors such as significant demand from end industries such as footwear, automotive, medical, industrial machinery, and electronics industries.

• Published: March 2023

Market Leaders: Koninklijke DSM N.V.(Netherlands), Glanbia PLC (Ireland), ADM (US), BASF (Germany), and Lonza Group (Switzerland) are Increasing their Respective Market Shares Steadily Through Product Launches and Deals in Vitamins Market

The vitamins market is projected to reach USD 8.9 billion by 2028 from USD 6.7 billion in 2023, growing at a CAGR of 6.0% from 2023 to 2028. The increase in demand for processed food, clean-label packaged food products, ready-to-eat, and ready-to-cook products. This is due to changing consumer preferences, a fast-paced lifestyle, and an increasing working population that has driven the shift from healthy foods to convenience food products.

• Published: March 2023

Top Companies in Sugar Substitutes Industry - Cargill, Incorporated (US), ADM (US) and International Flavors & Fragrances Inc. (US)

The Sugar substitute market is estimated at USD 23.56 billion in 2024 and is projected to reach USD 29.90 billion by 2029, at a CAGR of 4.9% from 2024 to 2029. The major factors driving the market growth of sugar substitutes are rising health awareness, increasing demand for low-calorie and diabetic-friendly products, fluctuating sugar prices, consumer preferences for natural sweeteners, and supportive government regulations promoting reduced sugar consumption. The major players in the sugar substitutes market with a significant global presence are Cargill, Incorporated (US); ADM (US); International Flavors & Fragrances Inc. (US); Ingredion (US); Tate & Lyle (UK). The market players have adopted various strategies, such as the development of advanced products, partnerships, contracts, expansions, and acquisitions, to strengthen their position in the sugar substitutes market. The organic and inorganic strategies have helped the market players expand globally by providing advanced sugar substitute solutions.

• Published: March 2023

Military Non-Steerable Antenna Companies - L3Harris Technologies, Inc. (US), Cobham Advanced Electronic Solutions (US) are the Key Players

The Military Non-Steerable Antenna Market is projected to reach USD 739 Million by 2028, from USD 529 Million in 2023, at a CAGR of 6.9%. The global military non-steerable antenna market has grown significantly. This can be attributed to the booming trend toward automation in flight control and an increase in defense expenditure and R&D activities to develop antennas capable of withstanding harsh conditions and providing long-range capabilities at low power. Technological advancements in satellites have provided lucrative growth opportunities to military non-steerable antenna manufacturers. These advancements have also led to improvements in the performance of non-steerable antennas. For example, new materials and manufacturing techniques have made it possible to create antennas with higher power handling capabilities and lower loss, improving the signal strength and clarity of communication systems.

• Published: March 2023

Top Companies List of Synchronous Generator Industry - ABB (Switzerland), WEG (Brazil), Siemens Energy (Germany)

The synchronous generator market is estimated to be USD 4.7 billion in 2023 to USD 5.9 billion by 2028, at a CAGR of 4.6% during the forecast period. The factors that drive the market growth include growing electricity demand and rising global energy consumption, Increase oil and gas demand, need for reliable and uninterrupted power supply.

• Published: March 2023

Polyurethane Sealants Companies - 3M (US), Arkema N.V. (Bostik) (Netherlands) and H.B Fuller (US) are Leading Players in the Polyurethane Sealants Market

The global polyurethane sealants market size is projected to grow from USD 2.7 billion in 2022 to USD 3.3 billion by 2027, at a CAGR of 4.1%. The demand trends primarily influence the demand for polyurethane sealants in the building and construction, and automotive industry in the growing economy. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launches, and joint ventures to increase their global presence and maintain sustained growth in the polyurethane sealants market.

• Published: March 2023

Composites In Oil & Gas Industry Companies - Strohm (Netherlands) and NOV Inc. (US) are Leading Players in the Composites In Oil & Gas Industry Market

The composites in oil & gas industry market is projected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2028, at a CAGR of 6.1% during the forecast period. There is an increased requriemnet of durable and cost efficie composites component solutions for oil & gas industry. Composites offer several benefits over traditional materials such as steel, including greater durability, corrosion resistance, and weight reduction. These advantages help to reduce maintenance costs, increase equipment lifespan, and improve operational efficiency. This factors projected to fuel market development in the upcoming years.

• Published: March 2023

Boehringer Ingelheim (Germany) and Zoetis Inc. (US) are Leading Players in the Animal Parasiticides Market

The global animal parasiticides market is projected to reach USD 14.1 billion by 2027 from USD 10.6 billion in 2022, at a CAGR of 5.8% during the forecast period. There are several factors which drives the animal parasiticides market like steadily increasing animal health costs, expanding zoonotic disease threats, and rapidly increasing private player investments.

• Published: March 2023

Market Leader - De-oiled Lecithin Market

The de-oiled lecithin market is estimated at USD 220 million in 2023 and is projected to reach USD 321 million by 2028, at a CAGR of 7.8% from 2023 to 2028. Rising consumer awareness of the health benefits of clean-label products and beverages will also contribute to market growth. The increasing use of de-oiled lecithin in a variety of industries, including packaged foods, pharmaceuticals, baked goods, dairy, meat, convenience food, frozen desserts, margarine, and cosmetics, will also drive market growth.

• Published: March 2023

Koninklijke Philips N.V. (Netherlands) and Medtronic plc (Ireland) are Leading Players in the mHealth Solutions Market

The global mHealth Solutions market is projected to reach USD 395.0 billion by 2028 from USD 119.5 billion in 2023, at a high CAGR of 27.0% during the forecast period. Growth in this market is driven by the increasing penetration of smartphones, tablets, and other mobile platforms, cost containment in healthcare delivery. However, Lack of standards & regulations and insufficient reimbursements is expected to restrain the growth of this market to a certain extent.

• Published: March 2023

Supply Chain Analytics Market Share & Size: Upcoming Growth

The supply chain analytics market is anticipated to expand at a compound annual growth rate (CAGR) of 21.0% from USD 5.2 billion in 2022 to USD 13.5 billion by 2027. The process of collecting data and information to provide insights into how logistics are run, from inventory control to order fulfillment and shipping, is known as supply chain analytics. With the growth of e-commerce, there is greater pressure to establish a lean supply chain and meet customer expectations for affordable, timely shipping. By utilizing tools, technology, and other resources to collect real-time data on everything from shipment performance to inventory movement, online merchants may optimize their supply chain and save costs while increasing accuracy and speeding up procedures.

• Published: March 2023

Emerging Trends in the Global AI in Project Management Market

The market for AI in project management is expected to increase from USD 2.5 billion in 2023 to USD 5.7 billion by 2028, with a CAGR of 17.3% during the forecast period. Platforms for AI and machine learning can boost a project's commercial visibility from start to finish. Because AI can recognise and anticipate concerns far earlier, project management teams may be able to act more quickly before hazards threaten project completion. The use of artificial intelligence in project management allows for better, faster decision-making by leveraging machine learning and predictive data analytics to provide more accurate insights into probable outcomes.

• Published: March 2023

AI in Project Management Market Booms: Key Drivers and Leading Players

The market for artificial intelligence in project management is expected to increase from USD 2.5 billion in 2023 to USD 5.7 billion by 2028, with a CAGR of 17.3% over the forecast period. AI and machine learning platforms can improve the commercial visibility of a project from start to finish. Because of AI's ability to recognize and anticipate concerns far earlier, project management teams may be able to take more decisive action before hazards threaten project completion. AI in project management improves decision-making by leveraging machine learning and predictive data analytics to provide more accurate insights into prospective outcomes.

• Published: March 2023

Top Cloud Professional Services Companies - IBM (US) and Accenture (Ireland)| MarketsandMarkets

The global Cloud Professional Services market size is estimated to be valued at USD 25.6 billion in 2023 and is projected to reach USD 55.3 billion by 2028 during the forecast period, growing at a CAGR of 16.6%. The growing focus of enterprises on improving customer experiences is one of the key factors driving the market growth.

• Published: March 2023

Plasticizers Companies - Market Leaders in Plasticizers Market

The plasticizers market size is projected to grow from USD 17.0 billion in 2022 to USD 22.5 billion by 2027, registering a CAGR of 5.7% during the forecast period. This growth is attributed to the growing construction and electronics industries. The growing infrastructure development in developing countries, such as China, India, and Brazil, is driving the demand for plasticizers, as these countries require a large amount of construction material and automotive parts. The construction of new roads, bridges, airports, ports, and other projects requires plastic products, such as pipes, wires, and cable insulation. Thus, the increasing need for more efficient and sustainable infrastructure and government initiatives to modernize and upgrade the existing infrastructure is expected to drive the demand for plasticizers in the coming years.

• Published: March 2023

Panasonic (Japan), Motorola Solutions (US), NICE (Israel), Axon (US) and Genetec (Canada) are leading companies in Digital Evidence Management Market

Digital evidence management is expected to reach a value of USD 13.6 billion by 2028, growing at a compound yearly growth rate (CAGR) of 12.1% from an estimated USD 7.7 billion in 2023, according to MarketsandMarkets.The rising volume of digital evidence and increasing crime rate drive digital evidence management market growth.

• Published: March 2023

Top Companies List of AI in Project Management Industry - IBM (US), Hitachi (Japan) and Smartsheet (US) | MarketsandMarkets

The market for AI in project management is estimated to grow from USD 2.5 billion in 2023 to USD 5.7 billion by 2028, at a CAGR of 17.3% during the forecast period. Platforms for AI & machine learning have the ability to improve a project’s commercial visibility from the beginning to the end. Project management teams may take speedier action before hazards threaten project completion because of AI’s ability to recognize and anticipate issues far sooner. The application of AI in project management enables better, quicker decision-making by utilizing machine learning and predictive data analytics to deliver more accurate insights into potential outcomes.

• Published: March 2023

Cloud Professional Services Market Size & Share - Understanding the Global Landscape

The size of the global market for cloud professional services is expected to reach USD 55.3 billion by 2028, rising at a compound annual growth rate (CAGR) of 16.6% from its anticipated USD 25.6 billion in 2023. The growing focus of enterprises on improving customer experiences is one of the key factors driving the market growth.

• Published: March 2023

Cloud Professional Services Market Trends: Shaping the Future of IT

The global cloud professional services market is expected to increase at a compound annual growth rate (CAGR) of 16.6%, from its estimated valuation of USD 25.6 billion in 2023 to USD 55.3 billion by 2028. The growing focus of enterprises on improving customer experiences is one of the key factors driving the market growth.

• Published: March 2023

Emerging Trends in Digital Evidence Management Market

According to MarketsandMarkets, the market for digital evidence management will expand at a compound yearly growth rate (CAGR) of 12.1%, from an expected USD 7.7 billion in 2023 to USD 13.6 billion by 2028.

• Published: March 2023

Digital Evidence Management Market Growth Factors, Size and Share

Digital evidence management is expected to reach a value of USD 13.6 billion by 2028, growing at a compound yearly growth rate (CAGR) of 12.1% from an estimated USD 7.7 billion in 2023, according to MarketsandMarkets.

• Published: March 2023

Clarifying Agents Companies - Milliken & Company (US) and ADEKA Corporation (Japan) are Leading Players in the Clarifying Agents Market

The clarifying agents market is projected to reach USD 338 million by 2027, at a CAGR of 7.5% from USD 235 million in 2022. The market growth is driven by influencing factors such as significant demand from end-industries such as packaging, consumer products, and electronics.

• Published: March 2023

Satellite Launch Vehicle Companies - SpaceX (US) and United Launch Alliance, LLC (US) are the Key Players

The satellite launch vehicle market is projected to grow from USD 15.7 billion in 2022 to USD 29.1 billion by 2027, at a CAGR of 13.1% during the forecast period from 2022 to 2027. The satellite launch vehicle market has witnessed significant growth in recent years due to the increasing demand for satellite-based services and applications, such as broadband internet, television broadcasting, remote sensing, and global positioning systems. The rise in space-based activities by private companies, such as SpaceX (US) and Blue Origin (US), has also contributed to the growth of the market by introducing innovative technologies and business models

• Published: March 2023

Top DevOps Companies - Progress Software. JFrog, Cisco, To The New

The DevOps market size is expected to grow from USD 10.4 billion in 2023 to USD 25.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period.

DevOps unifies people, processes, and technology in application design, development, delivery, and operations by combining development (Dev) and operations (Ops). DevOps makes it possible for formerly separate tasks such as development, IT operations, quality engineering, and security to coordinate and collaborate. Teams use DevOps culture, methods, and technologies to boost their trust in the applications they develop, improve how well they meet client expectations, and move more quickly toward business objectives. DevOps enables teams to continuously provide consumers with value by creating better, more dependable products.

Major DevOps Companies include

• Progress Software Corporation
• JFrog Ltd.
• Cisco 
• To The New

• Published: March 2023

Top Feed Acidulants Companies: Yara (Norway), Kemin Industries Inc. (US) and Eastman Chemical Company (US)

The global feed acidulants market is estimated to be valued at USD 3.4 billion in 2023. It is projected to reach USD 4.7 billion by 2028, recording a CAGR of 6.2% during the forecast period. The post COVID-19 era has influenced the consumption of high-protein animal-based meals. Thus, players in the industry are undertaking multiple strategic initiatives such as agreements, innovative new product launches, acquisitions, and expansions to tap the growing market potential around the world, particularly in high-growth markets such as Asia.

• Published: March 2023

Surface Mount Technology (SMT) Companies - Fuji Corporations (Japan) and Nordson Corporation (US) are the Major Players

The surface mount technology (SMT) market is projected to grow from USD 5.8 billion in 2023 to USD 8.4 billion by 2028; it is expected to grow at a CAGR of 7.8% during the forecast period. The growing adoption of electric vehicles is one of the major drivers of the market.

Major Surface Mount Technology (SMT) Companies Include: 

• Fuji Corporations (Japan),
• Nordson Corporation (US),
• AB (Sweden),
• KLA Corporation (US), and
• Viscom AG (Germany) among others.

These companies operate globally and provide comprehensive surface mount technology equipment. They rely on their R& D capabilities and a balanced product potfolio to gain significant market share. 

• Published: March 2023

Unveiling Trends in Smart City Platforms Market

According to MarketsandMarkets, the size of the global market for smart city platforms will increase at a compound annual growth rate (CAGR) of 8.8% between 2023 and 2028, from USD 191.6 billion to USD 292.1 billion. The requirement for automation in network architecture, the growing demand for an effective connectivity network to manage expanding, and the growing number of devices on networks are the main factors anticipated to propel the growth of the smart city platforms market.

• Published: March 2023

Upcoming Trends in Supply Chain Analytics Market: Growth Factors

At a compound annual growth rate (CAGR) of 21.0%, the supply chain analytics market is expected to expand from USD 5.2 billion in 2022 to USD 13.5 billion by 2027. The term "supply chain analytics" refers to the collection of data and insights into how logistics are run, from inventory management to order fulfillment and shipping. With e-commerce growing, there's more pressure than ever to establish a lean supply chain and meet customer expectations for low-cost, fast shipping. Using technology, tools, and other resources to collect real-time data on inventory movement and shipment performance, online merchants could manage their supply chain more efficiently to save costs, speed up procedures, and improve accuracy.

• Published: March 2023

Smart City Platforms Market Share & Size: Growth Demand

MarketsandMarkets projects that the size of the global market for smart city platforms will increase at a Compound Annual Growth Rate (CAGR) of 8.8% over the course of the forecast period, from USD 191.6 billion in 2023 to USD 292.1 billion by 2028. A few key aspects that are anticipated to propel the growth of the smart city platforms market are the increasing number of devices on networks, the growing need for effective connection networks to manage increasing, and the requirement for automation in network architecture.

• Published: March 2023

Cloud Databases Boom: Scalability, Cost Savings & Security Drive Market Growth

The size of the global cloud database and database-as-a-service (DBaaS) market is estimated to increase from USD 21.3 billion in 2023 to USD 57.5 billion by 2028, At a Compound Annual Growth Rate (CAGR) of 22.0% over the course of the forecast period

To know about the assumptions considered for the study download the pdf brochure

• Published: March 2023

Emerging Trends in the Global Logistics Automation Market: E-commerce Driving Efficiency

The global logistics automation market is expected to increase from USD 32.7 billion in 2023 to USD 51.2 billion by 2028, with a compound annual growth rate (CAGR) of 9.3% throughout the forecast period. The logistics business benefits from technological advancements such as robotics, artificial intelligence, and the Internet of Things (IoT) in the logistics automation market.

• Published: March 2023

Key Growth Drivers and Market Leaders in the Global Logistics Automation Market

The global logistics automation market is expected to increase from USD 32.7 billion in 2023 to USD 51.2 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 9.3% throughout the forecast period. The logistics business is benefiting from technological advancements such as robotics, artificial intelligence, and the Internet of Things (IoT) in the logistics automation market.

• Published: March 2023

Zoetis, Inc. (US) and Merck & Co., Inc. (US) are Leading Players in the Companion Animal Pharmaceuticals Market

The global companion animal pharmaceuticals market is projected to reach USD 19.6 billion by 2027 from USD 14.4 billion in 2022, at a CAGR of 6.3% during the forecast period. Increasing R&D investments for animal healthcare

• Published: March 2023

GPS Tracking Device Companies - CalAmp Corp. (US) and Sierra Wireless, Inc. (Canada) are the Key Players

The GPS tracking device market is projected to grow from USD 3.1 billion in 2023 to USD 5.7 billion in 2028; it is expected to grow at a CAGR of 13.1% from 2023 to 2028. The growth of the market is attributed to growing number of commercial vehicles, such as trucks, buses, and vans, drive the market for GPS tracking devices. Vehicles that are engaged in the transportation of men, material, or machinery —where on-time delivery can make a significant difference in cost and productivity—are prompting players to adopt GPS-tracking devices.

• Published: March 2023

Top Cloud Native Applications Companies - IBM (US) and Oracle (US) | MarketsandMarkets

MarketsandMarkets forecasts the global cloud native applications market size is expected to grow from USD 5.9 Billion in 2023 to USD 17.0 Billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.7% during the forecast period. The improved security and app management, and usage of containers which are infrastructure agnostic and rooted in a cloud environment, hence enabling teams to develop apps that are cloud native, are a few driving forces that are encouraging the use of cloud native applications.

• Published: March 2023

Cloud Native Applications Industry Trends: Navigating the Future of Digital Innovation

According to MarketsandMarkets, the cloud native applications market is anticipated to increase at a compound annual growth rate (CAGR) of 23.7% between 2023 and 2028, from USD 5.9 billion in 2023 to USD 17.0 billion in 2028. The improved security and app management, and usage of containers which are infrastructure agnostic and rooted in a cloud environment, hence enabling teams to develop apps that are cloud native, are a few driving forces that are encouraging the use of cloud native applications.

• Published: March 2023

Cloud Native Applications Market Size & Share - Insights into the Global Landscape

The global market for cloud native applications will increase at a Compound Annual Growth Rate (CAGR) of 23.7% over the course of the forecast period, from USD 5.9 billion in 2023 to USD 17.0 billion by 2028.

• Published: March 2023

5G IoT Market Booms Trends Driving Growth in Connectivity, Smart Cities & More

According to projections, the size of the 5G IoT market will increase at a Compound Annual Growth Rate (CAGR) of 35.1% between 2023 and 2028, from USD 13.2 billion to USD 59.7 billion. The massive 5G IoT ecosystem and critical communication services are driving the growth of the 5G IoT market.

• Published: March 2023

5G IoT Market Booms at 35.1% CAGR: Growth Drivers & Key Players

With a Compound Annual Growth Rate (CAGR) of 35.1% over the course of the forecast period, the size of the 5G IoT market is expected to increase from USD 13.2 billion in 2023 to USD 59.7 billion by 2028. The massive 5G IoT ecosystem and critical communication services are driving the growth of the 5G IoT market.

• Published: March 2023

Construction Lubricants Companies - Shell plc (UK), ExxonMobil Corporation (US) and BP p.l.c. (UK) are Leading Players in the Construction Lubricants Market

The construction lubricants market is projected to grow from USD 9.0 billion in 2022 to USD 10.6 billion by 2027, at a CAGR of 3.3% during the forecast period. The market growth is primarily driven by factors such as rising automation in the construction industry and growing demand for high-quality lubricants. The high growth in the construction industry in the Asia Pacific and, Middle East & Africa region benefits the construction lubricant suppliers and fuels the global construction lubricants market.

• Published: March 2023

Top 5G IoT Companies - Verizon (US), China Mobile (China), and AT&T (US) | MarketsandMarkets

The 5G IoT market size is projected to grow from USD 13.2 billion in 2023 to USD 59.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 35.1% during the forecast period. The massive 5G IoT ecosystem and critical communication services are driving the growth of the 5G IoT market.

• Published: March 2023

Robot End Effector Companies - Schunk (Germany) and Schmalz (Germany) are the Key Players

The global robot end effector market is expected to grow from USD 2.3 billion in 2023 to USD 4.3 billion by 2028, registering a CAGR of 13.5%. The markets growth is attributed to the surging demand for modular end effectors by various industries.

• Published: March 2023

AI Sensor Companies - Robert Bosch GmbH (Germany) and Teledyne Technologies Incorporated (US) are the Major Players

The AI sensor market is projected to reach USD 22.1 billion by 2028, from USD 3.0 billion in 2022, at a CAGR of 41.6%. Growing demand for AI sensors in IoT-based devices across home automation and automotive applications is one the major drivers of the market.

• Published: March 2023

Top Companies in Power Grid Industry - Hitachi Energy (Switzerland), Siemens (Germany) and General Electric (US)

The global power grid market is projected to reach USD 367.4 billion by 2028 from an estimated USD 282.1 billion in 2023, at a CAGR of 5.4% during the forecast period. Factors such as the electrification of industrial processes and fleets, and investments in upgrading and expanding transmission and distribution infrastructure are driving the growth of the power grids market.

• Published: March 2023