Research Report

  According to a recent study done by FMI, the  Accounts Receivable Automation Market  is expected to reach US$ 6.6 Billion by 2032, up from US$ 2.4 billion in 2022, expanding at a high CAGR of 10.7%. This study explains that the key factors such as growing volumes of financial transactions have led to a need for an efficient cash management system, which in turn fuels the market growth. The major factors that are expected to accelerate the growth of the Accounts Receivable Automation Market during the forecast period include improving cash position, increase control over cash and working, increased account receivable management efficiency, and improved customer communication, with rise in customer service and satisfaction with reduced administrative cost in minimizing credit risk. Moreover, the rising workflow automation practices across different industry sectors have led to automation in account receivable processes. These solutions help in improving the cash flow as well as...

  As per FMI analysis,  baby bath and shower products market  outlook remains positive with sales projected to rise at  6.5% CAGR  between 2021 and 2031, despite a period of subdued growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights (FMI). The research study tracks baby bath and shower product sales in 20+ countries, offering a lucid analysis on how growth trend will unfold. Biotechnology expertise is being used by the players to build high-performance baby bath and shower products, attracting a large number of customers. The use of such expertise is prominent in the highly competitive industry with great investment in research and development facilities. For example, Massey Medicinals Company offers the ‘Candida Freedom’, a handcrafted product line, which includes biodegradable soaps and bath salts. These products contain probiotic lactospore, a Sabinsa Corporation-developed bacillus coagul...

    The global  cloud billing market  is expected to increase at a Compound Annual Growth Rate (CAGR) of 15.2%, from USD 3.5 billion in 2021 to USD 7.10 billion by 2026, according to FMI. One of the most powerful drivers driving cloud billing tools and service adoption across regions is the expanding number of cloud billing enrollees. Cloud billing suppliers are projected to benefit from factors such as increased international student mobility and more government efforts and financing. The pandemic has been beneficial to the cloud billing market. Due to the COVID-19 pandemic, cloud billing systems, particularly usage-based pricing, have gained appeal as businesses adjust their budgets and preferences to survive the pandemic. Furthermore, enterprises all over the world are increasing their investments in cloud billing systems to maintain operations. Governments are introducing programs to assist companies during the...

  The global  chatbot market  is anticipated to reach a valuation of US$ 4.2 Bn by 2032 from US$ 580.3 Mn in 2022, rising at a CAGR of 21.8% throughout the forecast period. In 2020, the chatbot market was projected to have a modest slowdown due to the worldwide shutdown. The COVID-19 epidemic has shook almost every business, causing a surge in turnover. Despite the fact that crucial items are exempt from the lockdown, the shortage of workers to operate on manufacturing lines, supply networks, and transportation has a negative impact on the availability of vital commodities. The issue is likely to be under control by early 2021, with demand for chatbot solutions and services expected to surge as businesses attempt to improve customer experience and build tailored relationships with prospects. A wide variety of chatbot solutions and services will be used by a variety of industries to support digital transformation programs that address mission-critical procedures, improve op...

  According to a recent study done by FMI, the  cognitive computing market  is expected to reach US$ 3.2 Trillion by 2032, up from US$ 257.1 Billion in 2022, expanding at a high CAGR of 28.7%. This study explains that the key factors such as the rise in big data analytics, developments of machine-to-machine technologies, and an increase in demand for a better customer experience are expected to propel the market growth during the forecast period. Rising concerns among all the major business organizations about analyzing large volumes of data, to estimate the risk associated with any strategic initiative is spurring adoption of cognitive computing. Additionally, there is an increase in the demand for cognitive systems in large organizations and this is expected to increase in SMBs owing to cloud-based services. As cloud-based deployment decreases the cost of deploying cognitive computing in the organization, there is a subsequent rise in the overall demand for cloud-based ser...

  According to a recent study by FMI, the  conversational AI market  is expected to reach US$ 40.5 billion by 2032, up from US$ 8.3 billion in 2022, expanding at a high CAGR of 17.2%. This study explains that the key factors such as rise in demand for AI-based Gartner chatbots solutions are expected to augment the growth of the market during the forecast period. The major factors that are expected to accelerate the growth of the conversational AI market during the forecast period include increasing demand for AI-powered customer support services, omnichannel deployment, and reduced chat bot development costs.  Furthermore, the rising demand for AI-based chatbots to stay connected and increasing focus on customer engagement are the major factors adding value to the conversational AI offerings, which is expected to provide opportunities for enterprises operating in various verticals in the conversational AI market. With advancements in the use of AI technology, organizatio...

  According to a recent study by FMI, the  conversational AI market  is expected to reach US$ 40.5 billion by 2032, up from US$ 8.3 billion in 2022, expanding at a high CAGR of 17.2%. This study explains that the key factors such as rise in demand for AI-based Gartner chatbots solutions are expected to augment the growth of the market during the forecast period. The major factors that are expected to accelerate the growth of the conversational AI market during the forecast period include increasing demand for AI-powered customer support services, omnichannel deployment, and reduced chat bot development costs.  Furthermore, the rising demand for AI-based chatbots to stay connected and increasing focus on customer engagement are the major factors adding value to the conversational AI offerings, which is expected to provide opportunities for enterprises operating in various verticals in the conversational AI market. With advancements in the use of AI technology, organizatio...

  smart home devices market :  smart home devices sales is expected to grow at a healthy CAGR of over 18% during the study forecast period 2021-2031, despite a period of less growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights. The research study tracks smart devices sales in 20+ countries, offering a lucid analysis on how growth trend will unfold. FMI in its latest study has forecast the market to rise at a CAGR of 18.7% between 2021 and 2031. In terms of product type, entertainment & other controls is expected to hold a noteworthy revenue share, as entertainment & other controls has gained a significant millennial attention in the past few years. Other smart home devices like fitness tracker, smart sensors etc. have also gained popularity as these are also classified as the smart devices. In addition, smart home device manufacturers are ensuring that their products and services are compatible with Amazon, ...

  As per a recent market analysis by Future Market Insights (FMI), the  bird food market  is poised to reach a valuation of US$ 2.1 Bn in 2022. Sales are projected to increase at a 3.6% CAGR, with the market size reaching US$ 3.0 Bn by 2032. Leading manufacturers of bird food are focused on sustainability of the environment. Also, growing health consciousness among bird owners is expected to improve the sales of bird food globally. Non-profit groups, such as the National Audubon Society, claimed record 2020 sales in its backyard bird feeder and wild-bird-food-licensing programmes, while several birding retailers reported 50 percent increases in demand. Many people who have started monitoring birds have done so by putting out a feeder. Consumers are increasingly turning to e-commerce sites to buy bird food and supplies since they can provide a large variety of products at exceptional discounts and rates. Furthermore, e-commerce websites may assist customers modify...

  The global  online grocery  is projected for a massive 23% year-on-year growth for the online grocery market between 2020 and 2030. In its latest report, FMI studies the scope for expansion of the market across the globe and examines investment feasibility in key segments. Online grocery shopping has been popular among the younger generation, but the COVID-19 outbreak pulled this novel form of shopping into the mainstream. Apart from millennials, which account for more than 32% of the global population, online grocers also witnessed sizable traction from new customer archetypes. These customer groups were geriatric and sub-urban consumers. Witnessing traction from such a diverse customer archetype, online grocers also worked on their offering and expanded the portfolio of products and inventories Economists at FMI says that online grocery shopping is one of the fastest growing sectors in the U.S. retail. As the number of online shoppers grow it is expected that e-re...

  Expanding at a CAGR of 3.5%, global consumption of  small kitchen appliances market  has reached a market valuation of US$ 102.31 Bn in 2022 and is predicted to increase to US$ 134.23 Bn by the end of 2030. Small kitchen appliances currently account for around 15%-20% share in the global household appliances market. The e emergence of innovative products such as smart kitchen appliances is set to drive overall demand for small kitchen appliances over the coming years. Small Kitchen Appliances Sales are Gaining Traction Globally owing to High Product Awareness, and New Innovative Product Launches Technology advancements, energy efficiency, cost, and quality of the products are major factors drive consumers’ purchasing preference. The advent of e-commerce industry and wide availability of different offline sales channel such as modern store (hypermarkets/supermarkets, specialty stores etc.) supports the industry from supply side....

  Household Care Wipes Market  is expected to reach US$ 7.8 Bn in 2032, growing at a CAGR of 6.2% during the forecast period 2022-2032. Nowadays, the basic need for cleanliness is high among people, worldwide. Thus, there has been a significant increase in the demand for household cleaning products, globally. The growth of such household care products in the market is evident with their popularity among consumers. The appeal of household care products among consumers is primarily driven by convenience, disposability, and ease of use to clean surfaces all around the home. Household care wipes are one such product that offers hygiene and allows the consumer to perform daily tasks in significantly less amount of time. Companies in the household care wipes market are providing a variety of products for both, regular and scrubbing surfaces. Moreover, companies are adopting advanced wipe technology to offer convenient solutions, along with developing a botanical alternative to c...

  The  pet furniture market  is poised to reach a valuation of  US$ 5 Bn  in 2022. Sales are projected to increase at a  6.2% CAGR , with the market size reaching  US$ 9.2 Bn  by 2032. Rising pet adoption around the world has resulted in high demand for pet furniture. Increasing tendency of pet-parents to spend on premium and multi-functional products is expected to augment the growth in the market. Increasing investments in research and development has led to the introduction of sustainable pet furniture products. Pet care products that provide health and comfort benefits, as well as entertainment for pets are gaining traction in the market. In addition to this, players are launching new products at online retail channels to improve their regional presence. Consumers are preferring online retail channels across emerging economies due to lack of pet specialty stores. Increasing sales through digital platforms will propel growth in the marke...

  The market for  reusable incontinence products  is expected to reach US$ 616.9 Mn in 2021, according to a recent analysis by Future Market Insights (FMI). Disposable incontinence products have traditionally dominated the market. Consumer preferences have changed from throwaway and simple-to-use products to washable, reusable, and environmentally friendly products as a result of the recent wave of sustainability. The environment is sacrificed in order for modern absorbent hygiene products (baby diapers, adult incontinence, and feminine hygiene products) to improve quality of life, offer excellent protection, and promote the skin health of millions of people. The use of absorbent hygiene products (AHPs) has significantly expanded and they are now considered necessary daily items in society. The waste from incontinence systems is made up of roughly 53% water, 30% wood fibre, 11% plastic, 2% Super Absorbent Polymer (SAP), and 4% excrement and other materials. Using wast...

  Future Market Insights (FMI) in a new study has projected the  pet dietary supplements market   to record impressive growth. According to the report, the market will reach a valuation of US$ 3.78 Bn by 2021.Pet humanization is a growing trend where owners are treating their pets as counterparts and wanting to provide their pets with best nutrition for their wellbeing. With pet ownership becoming widespread. Pet parenting or pet humanization has been fuelling the demand for pet dietary supplements. This trend is being mirrored in the high frequency of the launch of innovative formulations in the market. According to Pet Food Processing, 45 new nutritional products for pets were launched in 2020. The pet owner’s love for their pets is driving the demand for pet dietary supplements, besides the fact that supplements ensure that the pets receive proper nutrition, which off-the-shelf pet foods might be void of. Additionally, pet dietary supplements find demand among the m...

  By the end of 2029, the global  Beard Oil market  is anticipated to be worth US$ 1,475 million. According to Future Market Insights (FMI), between 2019 and 2029, the market would grow steadily at a CAGR of 5.6 percent. According to the report, the primary drivers for the beard oil market are increased demand for personal care products among male consumers, active marketing by corporations, and rising indie brands. The research provides a thorough analysis of the market, including key growth drivers, restraints, opportunities, and current trends. It makes use of original research. It includes in-depth insights into the Beard Oil market. Some of these are: Europe is expected to dominate the global beard oil market due to high concentration of beauty & skincare manufacturers in the region. The East Asia region is expected to grow at highest CAGR during the forecast High demand for organic products is considered as key attributor to the g...

  The green  tea-based skin care products  size is forecast to top US$ 536.4 Mn in 2022 and exhibiting a remarkable 8.7% CAGR between 2022 and 2032. This is due to increase in consumer awareness for natural personal care products and the desire of manufacturers to replace conventional ingredients with natural variants. Therefore, with increasing demand for natural cosmetics due to their long-term health benefits, the green tea-based skin care products are growing attaining popularity over the forecast period. Tea is produce from the Camellia sinensis plant- a small evergreen shrub native to East Asia region. Green tea has various essential elements such as polyphenols, tannins, protein, minerals, amino acids, carbohydrates, and others. Using green tea as an ingredient in skin care products provide various health benefits such as potent free radical scavengers, strong antioxidant herbs, acne management, dermatological benefits, and many more. Projected to rise at a CAG...

  The global  natural cosmetic color market  is forecasted to register 5.01% CAGR during forecast period (2022-2032) & projected to reach US$ 68.46 Bn by 2032 Growth in the natural products industry has led to the increasing consumer interest towards natural ingredients in food, cosmetic, and personal care products. Natural cosmetic colors are usually made using pigments found in plants, vegetables, and fruits. Products such as beet, red cabbage, beta carotene, grape juice, hibiscus fruit extract are some of the sources used for natural cosmetic color. The natural and organic colors are available in liquid, powder, paste, and powder blend formats with option for customization. Colorant from natural sources such as insects, plants, and algae are also finding wide application in natural cosmetic products. Manufacturers in the natural cosmetic color market are also focusing on including natural colorant listed and approved by regulatory body in a particular country. ...

  The  hand sanitizer spray pen market  is likely to register a CAGR of 11% during the forecast period, and is anticipated to reach a market share of US$ 11.36 Bn in 2032, from US$ 4 Bn in 2021, due to its convenient packaging which makes consumers carry it easily. Consumers have made health and hygiene a very significant part of their lives due to the necessity of cleanliness and keeping excellent health not just for themselves, but also for social reasons, which has boosted demand for hand sanitizer spray pen. Hand hygiene goods, in particular, have acquired relevance in customers’ minds over the last decade, and as a result, manufacturers are recognising this and making advertisements with such concepts to promote awareness and increase usage of such things, encouraging sales of hand sanitizer spray pen. As healthy hands are so essential to consumers, several firms in the market are supporting this shift in consumer behavior, and goods such as hand sanitizers hav...

  In 2021, the market for  anti-pollution hair care products  will reach a value of US$3.5 billion. As more people gravitate toward hair care products made with natural ingredients, industry growth will accelerate. Companies are adopting the trend of substituting natural molecules for manufactured ones. In order to keep up with changing consumer preferences, businesses will reportedly create a flood of new items. In addition, they’ll probably create products that target a certain hair or scalp concern in order to appeal to a larger customer base. According to FMI, among other nations, the United States, China, and India are likely to see a growth in the sales of anti-pollution hair care products. While China is anticipated to continue dominating East Asia until 2031, the United States is expected to drive growth in North America. 2021-2031 Anti-Pollution Hair Care Products Market Outlook in Comparison to Sales Registered in 2016-2020 The main growth drivers are a...

  According to a recent report by Future Market Insights (FMI), the  motocross gears market  is expected to surpass a valuation of  US$ 12.5 Bn  at a CAGR of over  7.5%  through 2031.Expansion of automobile industry and growing popularity of off-road and motocross sports are propelling the sales of motocross gears. Over the years, increase in motocross and dirt-bike racing activities has fueled motocross gears sales. As awareness of safe riding is increasing among the riders, demand for riding gear such as jerseys, jackets, and pants is also aiding market growth. With rising cases of fatal accidents, helmets have become the preferred choice of riders in gears. Furthermore, stringent government rules regarding the consequences of not wearing a helmet are being seriously considered by motocross riders, leading to spike in the sales of motocross gears. . Extremity injuries are common in motocross accidents, according to a survey published by the Dig...

  The global  passion fruit extract market  for personal care and cosmetics market includes global industry analysis opportunity assessment 2022 – 2029. The report investigates the passion fruit extract market and provides critical insights for the forecast period of 2022-2029. As per findings of the report, the global passion fruit extract market is projected to experience significant growth over the forecast period, due to multiple driving factors such as increasing use of fruit ingredient in cosmetics products and increasing consumption of anti-ageing and skin care products. The global passion fruit extract for personal care and cosmetics market to reach a valuation of US$ 587.8 Mn in 2022, and is expected to increase at a CAGR of 8.3% during the forecast period of 2022-2029. This growth of passion fruit extract market is majorly driven by the increasing use of passion fruit extract as an ingredient by the cosmetics companies, in the view of increasi...

  It is prevalent for infants to get fever any random time. Thus, it is not possible for parents to consult a doctor immediately in wee hours, especially at night. So the  baby ear thermometers  come into play. Baby ear thermometers are also known as tympanic thermometers. As the infants have a fever, they become squirmy, and with the help of a regular thermometer, it is almost not possible to measure temperature. The baby ear thermometer is designed to measure the temperature of the baby from the baby’s ear canal. The baby ear thermometer is based on infrared technology to detect the temperature generated from the eardrum and surrounding tissue. The tip of the baby ear thermometer needs to be inserted into the baby’s ear canal, and a button is pressed to sense the temperature. The baby ear thermometer is fast as it merely takes a few seconds to get the reading precisely. The baby ear thermometer manufacturers are focusing on product developments. Development such as ...

  Makeup remover pen  quickly removes or corrects small makeup smudges, smears and mistakes without having to take off the rest of the whole makeup. There is an increase in the usage of makeup remover pen by the consumers due to its user friendly packaging when compared to other makeup remover products in the market. Makeup remover liquids are available in the market but the usage of makeup remover pen is to use as a corrector of the makeup rather than just to remove whole makeup. Since, consumers are moving towards organic and natural products, few players are bringing the innovations in the products such as strength to remove waterproof makeups but also nourish skin with chamomile flower extract and Vitamin E. Makeup remover pen market is gaining market share when compared to other makeup remover liquids and products available in the market owing to its convenience in usage and organic and natural ingredients used in the product. Makeup Remover Pen Market: Market Dynam...

  Despite a fall in global demand for  sun care  goods in 2020, Future Market Insights found that the market’s long-term prospects are still promising (FMI). According to the analysis, the market could experience pre-COVID level activity in 2019. According to FMI analysts, customers are meticulously scrutinising labels on sun care products to learn the components, and organic, which has made significant inroads into many F&B and cosmetics categories, is also making a mark in the market. The market has witnessed steady growth in the past few years, especially on the account of active ingredient incorporation, and the development of multifunctional formulations, which not only protect the user from the sun, but also provide skin lightening and anti-aging characteristics, which are also likely to boost growth. Nanoparticles such as zinc oxide and titanium dioxide are finding application in sun care product formulations, enabling uniform application, lower residue a...

  According to Future Market Insights (FMI), the worldwide  agriculture net market  will exceed US$1.0 Bn in 2020 and is expected to grow at a CAGR of 5% between 2020 and 2030. There has been a remarkable movement toward increasing crop yield in order to reduce reliance on imports, which has increased demand for farm nets. These nets are widely used in both commercial and sustainable farming, acting as a support system to guarantee optimum crop growth. Attacks by locusts, unpredictable weather patterns marked by strong hail and rain, heat, and UV light penetration have greatly increased demand for agricultural nets in recent years. These nets, which come in different grades, limit the passage of heat and UV rays, maintaining the greenhouse’s temperature at an ideal level for plant growth. Due to urban inhabitants’ serious interest in gardening as a lucrative hobby, the global agriculture market is likewise booming. Agriculture nets or shade nets are in high demand due...