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phoenixyfriend · 1 year ago

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Ko-fi prompt from Becky:

I actually would love to hear where ticket/concession/merch money for concerts go. If someone has already asked about that, can you do something similar for a sports game of your choice?

Already got a request for concerts, but I can do the sports game!

So, let's go with... baseball. I've been to professional baseball games ('twas the Ducks), even if it's been a Very Long Time, so that's the one I have some perspective on. Who is in control of the money any given game (as in, who owns the stadium and the home team) varies by place and sport, so let's use the Mets and Citi Field as our example when we need a specific.

Mostly, this is because I'm in New York and so it's down to either them or the Yankees, and between the two... the Mets, through a wholly owned subsidiary, Queens Ballpark Company, are the ones that actually own their ballpark, which makes a few things easier and includes a Fun Fact about the naming. It also means that I can treat the team and the stadium as one singular entity instead of waffling over who gets to be the Main Character of this simulation. It's not exactly uncommon for teams to own their own stadiums, but it's not most of them.

(The Mets, btw, are owned in large part by a hedge fund manager. Like, 95% of the team stock is owned by this one guy. Why can't more sports be like the Packers and just belong to the city.)

In this case, I will be referring to the Forbes article on Citi Field's revenue for 2022 as a guide or framework, as they have an actual image of the financial report; they don't do much explaining of the actual data, though, so my part will be explaining the less-obvious things and doing some maths. A few other articles will also be cited as they come in useful.

I'll also note that the Mets are a very expensive team operating at a loss, but they still work for our purposes.

MONEY COMING IN:

Tickets, most obviously

To quote the wiki article on Major League Baseball:

"MLB is the second-wealthiest professional sport league by revenue after the National Football League (NFL). [...] MLB has the highest total season attendance of any sports league in the world; in 2018, it drew more than 69.6 million spectators."

I didn't know that until I started researching for this post, but it makes sense. After all, baseball is "the American pastime." The Forbes article cites average attendance of 33,000 per home game. The stadium seat about 41,900, so we're looking at roughly 79% attendance. This is fine, because attendance is not the only stream of revenue.

Advertising

If you have seen a professional sports game in the past however many years, you have seen that, depending on the type of court, they are plastered in advertising. Let's take a look at Citi Field:

(Image Source: MLB website)

The Forbes article states that the stadium makes about $48.5 million per year from advertising. About $28.5 million of that comes from the various 'temporary' and long-term ads, the Nikon and Geico and Toyota and Coca Cola, etc.

$20 million of it comes from one company. I'm going to quote Wikipedia again:

The naming rights were purchased by Citigroup, a New York financial services company, for $20 million annually.

This is not uncommon! ESPN has an article about it, and some standout examples are Bank of America Stadium, Coors Field, Delta Center, FedEx Field and FedEx Forum, General Motors Place, Gillette Stadium, Heinz Field, and the list just goes on. I'm not even sure if the list is up to date, because I'm seeing even more articles elsewhere with higher figures.

Concessions

The financial report that Forbes cites has $22mill in concessions. This is not entirely surprising. Going by this page, we're looking at... 84 home games in that 2022 season. Let's assume that 33,000 average cited earlier. That's 2,772,000 attendees over the course of the season. So, what, a little under $10 per attendance tick? Entirely plausible. A hot dog plus a soda is $15, so... that tracks.

Parking

Apparently parking is, collectively, about $13mill annually. That's... genuinely a little concerning to me, for uh. Reasons. Also parking is $40.

(A lot of people go to games via train, if anyone's interested.)

Luxury Suite Premiums

I had to google this one, but uh. Turns out those fancy private box seats are even fancier and more private than I thought, bringing in over $10 mill a year.

Other Revenue - Stadium, undefined

"Other Revenue" and "post season revenue" are not given any further information, but they're about $16.5 mill so. They're definitely doing their part? Wish we had more information.

One guess is that there are events in the vein of the Citi Field Spring Carnival that contribute to the revenue through either fees to the stadium (if this is a carnival that rents the parking lot) or concessions and tickets (if the stadium rents a carnival).

Other Revenue - to the team that is not direct operating income of the stadium itself

Not counting the "other revenue" section of the financial statement, the Forbes article tells us that:

National broadcasting deals with Fox, ESPN and TBS that pay over $60 million a year to every MLB team, as well as the local cable fee the Mets get from SNY, which is over $80 million a year.

That's another $140mill in addition to the $244mill that the financial report cites.

Merchandise - not direct stadium revenue.

Get your Mets hats here! And your jerseys! And your logo bats! And your commemorative plushies! And--

MONEY GOING OUT

Operations

This one's easy: you have to pay wages to your employees, from the players themselves to the food sellers to janitorial to security to field maintenance, etc. Also, you have to pay for utilities (those billboards and floodlights aren't cheap), product to sell (frozen hot dogs), supplementary materials for products you sell (plastic cups, paper for the ticket machines, bags for garbage cans, and so on), and repairs/maintenance for the stands themselves (can't imagine they get through a season with all 41,900 seats intact).

Player salaries (and a few others, like the coach) aren't actually included in stadium revenue, but since the stadium is owned by the team, we're bundling them together for the sake of this case.

Payment in Lieu of Taxes

So this is an interesting one, and while the Forbes article does touch on it, there's a bit more detail to the story.

Citi Field was built in 2009, and the process cost $850 million. Of that, $615 was public subsidies. A lot of this was municipal bonds, which the Mets have to pay back with interest for the lifetime of the park; those municipal bond repayments are an offset, and in return for paying tens of millions in municipal bond repayments each year (the 2022 report shows about $43.5 mill), Citi Field does not have to pay property taxes.

Wikipedia only cites property taxes, but the financial report doesn't include any other taxes, so I'll assume the only other taxes they're on the hook for are sales and payroll, which aren't displayed in the financial report.

Parking

Right, so, parking as a bundle is about $7.5 mill in expenses, which means that parking alone has a marginal profit of about 42.3%, given the earlier figure of $13mill in parking revenue. I'm not finding any solid information on where that money goes, but it seems very like that New York City's taxes on land use for parking is not included in the property tax exemption we discussed above, and that most of the $7.5 mill is in that regard.

Post Season Expenses

I'll be honest, they don't define this $1.8 mill, but given what is and isn't included in the other sections, I'm going to hazard a guess that this may be about upgrades (more than maintenance) or replacement of physical billboards that are also not included as regular maintenance but require a lot of manpower to get up and set if complicated enough.

General and Administrative

This is the other possible allocation of the utilities and related payments. This is also where back of house activities like accountants, lawyer fees, payroll clerks, facilities managers, and so on are bundled in. It's about $5.5 mill.

Publicity and Promotions

This one's easy, it's just marketing that doesn't fall into General Mets Things and is rather for home games specifically.

Depreciation and Amortization

Bit trickier, but you know how a car loses value the second you drive it off the lot? That is depreciation. You paid $20,000 for a car, but two years later it's worth $16,000; on a financial report, you put that down as a $4,000 loss to depreciation. Amortization is similar, in that it lowers values of various assets in relation to time and relative value to what it was when new.

Interest Expenses

Expenses related directly to interest rates tend to get their own line separate from regular debt repayments. This isn't really relevant beyond 'loans are more expensive than when you first get them.'

Travel and League Expenses

Since this is a traveling team, being professionals, and a Major League Baseball Team in particular, money has to be spent on the plane rides, team bus, and of course, the league fees. I wanted to end that a bit more pithy, but it turns out it's not easy to find league fees for the MLB.

(A new team joining would have to pay about $2.2 billion, according to one article, while previous new additions were a couple hundred mill, so... 100 mill? Maybe?)

Hope that answers your question!

#economics #capitalism #phoenix talks #ko fi #ko fi prompts #research #baseball #the mets #citi field #sports #business #financial reports

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chosetherose · 2 years ago

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Taylor Swift’s epic “Eras Tour” is on track to become the biggest in concert history, with the potential to gross over $1 billion.

That milestone would break the record for global concert tours currently held by Elton John and could up the ante for an era of even higher ticket prices, show grosses and concert-industry revenues.

“What we’re seeing on this particular Taylor tour is almost like a once-in-a-lifetime phenomenon,” said Jarred Arfa, executive vice president and head of global music at Independent Artist Group, who represents Billy Joel, Metallica and other acts. “It’s pretty astonishing.”

Over the past week, Swift announced dozens of new international dates that will take her to South America, Asia, Australia and Europe. Besides her original 52 U.S. dates, which end in August, she’ll be playing 54 shows overseas, bringing her to 106 gigs by the last show in London next summer. More dates could be added.

Music executives have been speculating for months about how much Swift’s tour has been making. Swift, in an unusual move for the industry, is not reporting her nightly grosses after the shows to Billboard Boxscore, which tracks such data, but instead planning to report them later, according to Dave Brooks, Billboard’s senior director of live music and touring. This has fueled questions about how much the pop superstar is making and how such towering grosses may reset expectations for other major artists.

Swift’s outsize success comes amid a booming market for arena and stadium shows from superstars like Beyoncé and Madonna. For blockbuster tours, per-show concert grosses “are higher than they’ve ever been,” Brooks said.

These performers are charging higher prices for general-admission tickets, aisle seats and VIP packages—partly to offset a large jump in their costs—even as some smaller shows in clubs and amphitheaters and music festivals struggle.

Arena and stadium concertgoers, despite grumbling about prices, continue to cough up for shows. That’s boosting industry revenues, which increasingly are concentrated in concerts by the world’s biggest artists, Brooks said. In Swift’s case, the biggest concern isn’t prices—it’s getting tickets in the first place.

The Wall Street Journal analyzed Swift’s Eras Tour based on conversations with high-ranking concert executives, examining how much revenue Swift’s shows are generating in ticket sales versus how much money she’s actually taking home in profit.

Will the Eras Tour become the first to gross $1 billion in revenue?

The music industry keeps track of superstar concert tours via gross concert-ticket revenue figures that artists provide. It’s these figures that are used every year to rank successful tours. (Artists don’t include their costs, profits and deal making.)

Elton John currently holds the record for the highest-grossing global tour, with his ongoing “Farewell Yellow Brick Road Tour,” which has run from 2018 to 2023. So far, the tour, which ends in July, has raked in over $887 million. John surpassed prior record-holder Ed Sheeran’s “Divide Tour,” which ran between 2017 and 2019 and brought in $776 million.

Back in December, Billboard estimated that Swift’s 52-date U.S. leg would gross about $590 million; the average ticket price for the U.S. leg is $215, Billboard said.

Now that Swift is performing 106 shows worldwide, she could cross the record-breaking $1 billion line. But it’s not a done deal. Top tickets in the U.S. tend to cost 20% to 30% more than in the rest of the world, which makes the U.S. a more lucrative market than Europe or Asia. Swift’s 54 international shows aren’t worth as much as her American ones, though in some cases the venues overseas are larger in size, allowing for more concertgoers and revenue.

Asked how much the Eras Tour might end up grossing, Arfa, of Independent Artist Group, says Swift may very well reach $1 billion.

Others aren’t so sure, with some estimates putting her around $700 million to $900 million. That would still eclipse Swift’s previous “Reputation Stadium Tour” in 2018, which grossed about $345 million across 53 shows. Her average ticket price back then was $119, according to Pollstar.

A spokeswoman for Swift did not respond to requests for comment.

Executives generally expect Swift’s current tour to exceed Beyoncé’s, even if the pop-R&B superstar delivers eye-popping numbers of her own. That’s what happened the last time the two artists toured as solo artists: Back in 2016, Beyoncé’s “Formation World Tour” grossed $256 million.

So how much actual profit is Swift making?

Just because a tour grosses $1 billion doesn’t mean the artist is making $1 billion. It’s more complicated than that.

Superstars like Swift aren’t paid per show; they’re paid for the full tour. Still, it’s easier to get a picture of Swift’s earnings by thinking in terms of per-show grosses and profits.

For her U.S. shows, Swift set ticket prices ranging from roughly $50 for cheap seats to nearly $900 for VIP packages. Swift didn’t engage in “dynamic pricing,” which allows ticket prices to float upward (or downward) based on demand. Since her shows tend to sell out, the number of tickets sold each night depends on the size of the stadium. Such venues often host roughly 50,000 to 60,000 concertgoers, but can sometimes hit 80,000 or higher.

According to a person familiar with the matter, Swift grossed approximately $40 million via concert tickets over a recent weekend of shows. This $40 million figure would break down to more than $13 million per concert over three shows.

That generally tracks with concert executives’ estimates for Swift’s average per-show gross, which they put at $10 million, though shows could range from $6 million to $13 million or so.

But revenues are one thing, profits are another.

How much does the tour cost?

The expense of running the concert includes renting out stadiums, along with production, labor and transportation costs. The Eras Tour, in particular, is one of the most technically ambitious in recent history, with its various segments showcasing different albums of Swift’s career accompanied by unique backdrops and costumes.

Other payouts go to Swift’s concert promoters around the world, including Messina Touring Group, which is affiliated with AEG Presents, the No. 2 concert promoter globally after Live Nation. Promoters often get a 10% cut, Billboard’s Brooks said. But Swift is an unusually big superstar, which means she may be more able to secure highly favorable deals, executives said. Also, unlike most stars, Swift is not working with a booking agency in the U.S.—just Messina Touring Group—which eliminates a major cost.

Some executives expect Swift is taking home 40% to 60% of the estimated $10 million average per-show gross, while others think this take-home figure is probably 50% or lower.

To boil it all down, let’s imagine what all of this looks like in practice: First, the hosting stadium takes a cut, lopping off $2 million to $3 million from the $10 million gross. From there, Swift pays her staging costs and the promoter’s cut, which together could remove 50% of the remaining $7 million to $8 million. That gives her about $3.5 million to $4 million in profit per night.

That figure, multiplied by roughly 100 shows, takes you to $350 million to $400 million in profit for the entire 2023-2024 tour.

Accounting for various unknowns, a broader estimate would put Swift’s profits from selling tickets to the Eras Tour in the neighborhood of $300 million to $500 million.

What about her merchandise sales?

Concert executives said the Eras Tour is likely grossing another $2 million-plus a night through merchandise—all the $75 hoodies, $55 long-sleeve shirts and $45 short-sleeve shirts that fans are eating up. Fans, they say, are likely spending about $50 to $75 a person, after accounting for those who don’t buy anything. Even among the ranks of superstars, Swift’s merchandise is highly prized by her fans, known as Swifties, allowing her to gross more on everything from T-shirts to portable phone chargers. Some other superstars, especially non-veteran acts, might earn $25 a person or less.

During the weekend of shows where Swift grossed approximately $40 million via tickets, she also generated approximately $10 million via merch in total, according to the person familiar with the matter. That means about $3 million in merchandise revenue per night.

But Swift also has to pay a merchandise company. Of the $2 million-plus in average per-night merch revenue, Swift could be left with around 70%, after various payouts, concert executives said. That amounts to about $1.4 million in merchandise profit per night. If Swift’s merch sold like that over 100 shows, it would bring an additional $140 million on top of the $300 million to $500 million from tickets.

The upshot: Swift is looking at possibly over $500 million in profit across tickets and merchandise from the Eras Tour between the U.S. and overseas.

But there are even more income streams than that.

Even then, the Eras Tour doesn’t stop generating income.

There’s the cash from Swift’s partnership with the credit-card company Capital One, which is the U.S. presenting sponsor of the tour.

Swift’s alliance with Capital One, which goes back to 2019, is typical for superstars of her stature, for whom such deals typically involve hefty paydays. Swift, for her part, has appeared in Capital One commercials.

Last November, Capital One cardholders got early access to Swift’s tickets via a presale. At Swift’s shows on this tour, light-up wristbands were given away to fans; the bands were branded with Capital One’s logo.

Then there’s the merch on Swift’s website, which many fans likely bought before and after attending shows—especially if they wanted to avoid long lines at the venue.

Finally, there’s the tour-related income from increased interest in Swift’s music.

Swift is selling thousands of albums every week, often vinyl records and CDs. At the same time, she’s experiencing a spike in online streams as the Eras Tour rolls across the U.S. In the week ending June 15, Swift had six different albums in the top 25 of the Billboard 200 chart, according to Luminate, driven partly by the jump in streaming activity.

Executives said the tour has caused a Beatles-like mania. Some Swift fans who haven’t been able to get tickets have listened to shows from stadium parking lots. Others who got in have reported “post-concert amnesia,” where you’re so overjoyed you don’t remember a show afterward.

Such fans are likely among those helping fuel the streaming spike. That intensified listening, in turn, creates another waterfall of profits for Swift.

“She’s just capturing this moment of popularity so perfectly,” Arfa said.

#get it get it

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nickgerlich · 1 year ago

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Charged Up

One of the most frustrating things that happens to consumers, especially when it comes to tech products, is to find out that something you own is now obsolete. It happens all the time, but one company—Apple—has been notorious for doing it. Worse yet, the obsolescence affects one of the most mundane aspects of the product, yet also one of the most critical: the charger cord.

It was eleven years ago that Apple introduced the Lightning connector for its iPhones, leaving the much clunkier 30-pin connector to fade away. While it was a net improvement, it meant that all of our household and car chargers were done. They also did a similar move with charger cords for their MacBook line of laptops. And don’t get me started about when they eliminated the headphone jack back on iPhone 7 in 2016. It was clearly a move to bolster sales of their wireless AirPods.

Now they have done it again. At their big media announcement earlier this week, Apple announced iPhone 15 among other products, but also had to tell us that—here we go again—the phone’s charger cord would now be USB-C. It’s just that this time, Apple is not trying to pull another fast one, because they have been forced to change.

While it is convenient to think that the US rules the world and we set the standards, we are quickly waking up to the fact that the EU—European Union—has significant clout. The General Data Protection Regulation that was passed in 2018 ensures that European users have much higher expectations of data privacy online, and while they can opt-in to cookies, they are not the de facto setting. We can thank the GDPR for all those annoying questions we face on many websites today asking us if we would like some cookies.

The EU is at it again, with charger cords the next item to come in their cross hairs. Starting next year, all devices sold in Europe must have a common connector. USB-C was chosen as the standard. In both cases—the GDPR and charger cord—American firms have decided to go with the flow, and not fight it. Rather than have two websites, one for the EU and the one for everywhere else, they opted for one. As for Apple, it had no choice but to yield, if it wants to sell phones there.

Of course, this once again puts consumers in a bad place, because we still have legacy products that require the Lightning cord. At my office, both my keyboard and mouse are charged by—you guessed it—the Lightning cord. And my two Apple MagSafe external batteries also require that connector. Even when I upgrade my phone from 12 to 15, I will still have to keep some of these old cords around, while also changing out my home and vehicle charger cords.

Lovely. I will be using two systems at the same time. I see a tangled mess of cables in my future.

It can be argued that Apple should never have stuck with proprietary connectors in the first place, that it wasn’t being a good corporate citizen. But there is a monetary explanation. On Wednesday’s Morning Brew Daily podcast, they reported that Apple makes $5 billion a year either selling its own cords, or licensing their manufacture to third-party companies. That is a significant revenue stream that is now gone.

I am also perplexed that Apple had already adopted the USB-C standard on its own for MacBooks and iPads. It’s enough to make me pull out my hair. Well, if I had enough to pull.

Yes, I am an Apple fan boy. I made the switch in 2005, and have not looked back. While I do not own an Apple Watch or AirPods, I have phone, laptop, office iMac, and tablet, and I love the eco-system. Everything plays well together, which makes it a powerful bundle not replicated elsewhere. I’m good with paying the so-called “Apple tax” to own these products.

Sometimes, though, I admit to the frustration you get when you feel like someone is just yanking you around. This time Apple is getting yanked around. It lost the battle in Europe, and had to concede the world. I’m happy, because there really never was a good reason to have unique connectors other than extra revenue. In fact, this is something that has been going on for years in tech products, from cords to batteries. I can show you a bunch of incompatible camera batteries within both the Sony and Canon lines.

It’s just that Apple is the one getting the black eye for it now. It’s going to be a wobbly transition period for a while until we wear out all of our older products that still use Lightning, but we’ll get there one day.

And we can then add those old charger cords to that box everyone has in their home. Heck, mine still has Cat-4, RS-232, RCA, and land-line phone cables in it. Just in case, you know.

Dr “Of One A Cord” Gerlich

Audio Blog

#marketing #Apple #USB-C

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global-research-report · 18 hours ago

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From 4G to 6G: Innovations Shaping the RF Components Market

The global radio frequency components market size is expected to reach USD 89.73 billion by 2030 and it is expected to expand at 13.5% CAGR from 2024 to 2030, according to a new study by Grand View Research, Inc. The growth is expected to be driven by the high demand for devices that can establish direct wireless connectivity with the internet, including tablets, smartphones, smartwatches, drones, smart televisions, and smart home devices. Radiofrequency (RF) components industry’s growth is also anticipated to be aided by technological advancements in the field of wireless communication and advancements in materials utilized in the production of RF components, such as gallium arsenide (GaAs) and silicon germanium (SiGe).

These materials make it possible to combine analog and digital circuits onto a single chip, reducing the cost of producing the component. These parts are used in a variety of sectors, including consumer electronics, automotive, and military. In the upcoming years, it is anticipated that the consumer electronics application category would expand significantly due to rising consumer spending on electronic devices such as tablets, laptops, smartphones, and personal computers. Additionally, new radio frequency technologies are being developed that offer goods with a dynamic power range, higher frequencies, and reduced noise parameters, allowing for the construction of next-generation electronic components. The demand for products has been considerably impacted by the rising acceptance of high-speed networks like 4G and 5G, which has fueled the market for radio frequency components.

The International Telecommunication Union (ITU) estimates that there were 3.7 billion internet users worldwide in 2018, and that figure will rise to 5.3 billion by 2022. The global trend of steadily increasing internet and mobile phone users is probably going to have a beneficial effect on the market's growth prospects in the near future. The demand for advanced radio frequency solutions, such as switches, integrated modules, phase shifters, and other high-performance radio frequency solutions, has increased due to the growing demand for wireless communication solutions, including 5G, to allow wider channel bandwidths and greater data capacity than current or previous generation networks.

Additionally, 5G offers high-data-rate wireless connections, such as 4K/8K ultra High-Definition (HD) TV streaming, with an operational frequency range of 24 GHz to 95 GHz. Due to 5G networks' expanded coverage and decreased latency, there is an increased need for radio frequency components in wireless devices. On the other hand, a rise in raw material costs is anticipated to have a negative impact on the expansion of the market for radio frequency components. The vendor landscape of the RF components market is extremely fragmented in nature, which leads to fierce competition among important businesses and volatility in price margins based on competitive dynamics.

Radio Frequency Components Market Report Highlights

The filters segment held more than 23.0% of the market in 2023. Filters play a critical role in the RF components market, shaping the performance and efficiency of wireless communication systems

In 2023, the consumer electronics sector constituted more than 66% share of the whole market. Over the projected period, the segment is also anticipated to experience significant expansion

Asia Pacific stood as the leading regional market with the largest market share of more than 36.0% in 2023 and the fastest growth rate of 14.8% during the forecast period

Radio Frequency Components Market Segmentation

Grand View Research has segmented the global RF components market based on product, application, and region:

RF Components Product Outlook (Revenue, USD Billion; 2017 - 2030)

Filters

Duplexers

RF Amplifiers

RF Switches

Modulators and Demodulators

Mixers and Synthesizers

Others

RF Components Application Outlook (Revenue, USD Billion; 2017 - 2030)

Consumer Electronics

Automotive

Military

Wireless Communication

Others

RF Components Regional Outlook (Revenue, USD Billion; 2017 - 2030)

North America

Canada

Europe

Germany

France

Italy

Asia Pacific

China

Japan

India

Taiwan

Latin America

Brazil

Mexico

Middle East & Africa

Kingdom of Saudi Arabia (KSA)

UAE

South Africa

List Of Key Players

Broadcom, Inc.

Fujitsu Limited

IQE plc

NXP Semiconductors

Renesas Electronics Corporation

Murata Manufacturing Co. Limited

Taiwan Semiconductor Manufacturing Co. Limited

Texas Instruments, Inc.

TDK Corporation

ROHM Co., Ltd

Toshiba Electronics Devices & Storage Corporation

United Monolithic Semiconductors

MACOM Technology Solutions Holdings, Inc.

WIN Semiconductors

SV Microwave (Amphenol Corporation)

Wolfspeed, Inc.

Qorvo, Inc

Analog Devices, Inc

Marki Microwave, Inc.

Knowles Corporation

Skyworks Solutions, Inc.

Gotmic AB

Order a free sample PDF of the Radio Frequency Components Market Intelligence Study, published by Grand View Research.

#Radio Frequency Components Market

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industryforecastnews · 15 days ago

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Specialty Chemicals Market Size, Share, Trends And Industry Report, 2030

Specialty Chemicals Market Growth & Trends

The global specialty chemicals market size is estimated at USD 914.4 billion in 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030. The growth is attributed to the growing demand from pharmaceuticals, flavors and fragrances, rubber processing, and electronics chemicals, among others. One of the prime growth factors is consumer-driven demand, led by categories such as personal care, food & feed additives, and pharmaceuticals, among others.

Growing trends of rubber products such as long service life tires, high- performance requirements, and others influence the demand for rubber processing chemicals used in tires and industrial products. The market is primarily driven by the increasing use of synthetic rubber products globally. Additionally, growth in medical, footwear, aerospace, construction industries that require rubber products are expected to propel the demand in the near future.

However, the market growth slumped due to European geopolitical conflict which have caused an increase in oil costs, which affected the price of producing chemicals. The market is projected to be significantly impacted by rising oil prices. From the manufacturer’s viewpoint, the impact of rising energy prices resulted in higher chemical prices and has somewhat eroded profits. The import and export of raw materials across regions, particularly in the European region, were impacted by supply interruptions, which in turn had an impact on the market as a whole.

The countries in Latin America regions are expected to witness a trend of increased consumption of food & beverage products manufactured by adding additives to enhance flavor and taste owing to the shifting consumer eating habits and favorable regulatory developments in the region. These factors have led to a strong increase in the demand and the consumption of high-end value-added products like carbonated drinks, desserts, bakery products, among others. Moreover, the presence of major manufacturer such as Cargill Incorporated, General Mills, and Kraft Foods has resulted in novel product developments and capacity expansions in the industry, thus contributing to market growth.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/specialty-chemicals-market

Specialty Chemicals Market Report Highlights

Electronic chemical is the second fastest growing product segment with a CAGR of 5.5 % on the account of their use in advanced chemical purification technologies such as filtration, distillation, gas adsorption, and ion exchange to minimize the level of contaminants in high-purity process chemicals

Specialty pulp and paper chemicals product segment will grow significantly during forecast period. The demand is likely to increase with the growing developments, technological advancement, and M&A among the market players

The specialty chemicals landscape has been experiencing noteworthy transformation in recent times. Many integrated and large companies are expanding their portfolios to gain a foothold in the specialty chemicals marketspace

Germany specialty chemicals demand is expected to be high over the coming years owing to increasing consumption of coatings, printing inks, additives, and others in the food, automotive, and wood coating applications. Key players including BASF SE, Evonik Industries AG, and Lanxess are the largest manufacturers in the countr

With surplus feedstock and rising regional demand, prominent manufactures are witnessing lucrative investment opportunities from the Asia Pacific and Middle East region

Specialty Chemicals Market Segmentation

Grand View Research has segmented the global specialty chemicals market based on product, application, end-use, and region:

Specialty Chemicals Product Outlook (Revenue, USD Billion, 2018 - 2030)

Institutional & Industrial Cleaners

Rubber Processing Chemicals

Construction Chemicals

Food & Feed Additives

Cosmetic Chemicals

Oilfield Chemicals

Specialty Pulp & Paper Chemicals

Specialty Textile Chemicals

Water Treatment Chemicals

Electronic Chemicals

Mining Chemicals

Pharmaceutical & Nutraceutical Additives

CASE (Coatings, Adhesives, Sealants & Elastomers)

Other Products

Specialty Chemicals Application Outlook (Revenue, USD Billion, 2018 - 2030)

Institutional & Industrial Cleaners

Rubber Processing Chemicals

Construction Chemicals

Food & Feed Additives

Cosmetic Chemicals

Oilfield Chemicals

Specialty Pulp & Paper Chemicals

Specialty Textile Chemicals

Water Treatment Chemicals

Electronic Chemicals

Mining Chemicals

Pharmaceutical & Nutraceutical Additives

CASE (Coatings, Adhesives, Sealants & Elastomers)

Other Products

Specialty Chemicals Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

List of Key Players in Specialty Chemicals Market

Solvay

Evonik Industries AG

Clariant AG

Akzo Nobel N.V.

DuPont

Kemira Oyj

Lanxess

Croda International Plc

Huntsman International LL

The Lubrizol Corporation

Albemarle Corporation

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/specialty-chemicals-market

#Specialty Chemicals Market Size #Specialty Chemicals Market Share #Specialty Chemicals Market Trends #Specialty Chemicals Market Growth

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industrynewsupdates · 19 days ago

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Genetic Testing Market: Key Trends and Innovations Driving Industry Growth

The global genetic testing market size is anticipated to reach USD 39.25 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 22.5% from 2025 to 2030. The growth of the genetic testing industry is majorly attributed to the rising prevalence of genetic conditions, increasing investments in R&D, and initiatives by prominent market players. Moreover, increasing emphasis on personalized medicines is also likely to have a positive impact on the direct-to-consumer genetic testing industry.

Furthermore, government authorities are focusing on implementing national programs to encourage and consolidate genetic research. The primary goal of these national genetic research programs is to increase their investments in the compilation of data with an aim to develop personalized treatment plans and medicines, suitable for diverse ethnicities equally. To achieve this goal, awareness and acceptance of genetic testing is expected to play a crucial role.

Genetic testing has major applications in the diagnosis and monitoring of chronic illnesses such as cancers. Owing to increasing incidences of various forms of cancers, and a relatively higher rate of remission provided by the use of testing methodologies, it is expected that this segment with grow at the fastest growth rate in the personalized diagnostics segment throughout the forecast period. In addition, companies are collaborating to integrate advanced informatics tools for efficient diagnosis of cancer which is further contributing to the segment growth.

For instance, in February 2021, Tempus entered in a collaboration with Precision Health Informatics for accelerating the advancement of Precision Medicine (PM) in oncology. Precision Health Informatics leveraged Tempus’ genomic sequencing capabilities and AI-enabled platform to create an efficient personalized patient care and clinical research program.

Gather more insights about the market drivers, restrains and growth of the Genetic Testing Market

Genetic Testing Market Report Highlights

• By technology, Next-generation sequencing is a relatively more mature segment and held the largest genetic testing industry share in 2024, Owing to the increasing number of pharmaceutical and biotechnology companies establishing in-house research stations for developing a personalized treatment for cancers

• By application, the genetic ancestry screening segment captured the majority of the market share in 2024, owing to the increasing genetic disorders in emerging markets

• By product,consumables are expected to capture the largest share of the market in 2024, owing to the increasing investment by governments and international bodies to adopt a technologically advanced workflow of clinical diagnostics

• By channel,online is expected to witness the fastest growth during the forecast period, owing to the increasing use of smartphone applications, such as ShareDNA, that offer relevant information about test results and interpretation

• By end-user, diagnostic laboratories are anticipated to be the fastest-growing segment. This growth can be attributed to the increasing collaborations and strategic partnerships between corporations and laboratories to develop personalized therapeutic formations

• North America has a dominant regional position in the genetic testing industry with 45.38% share of the overall market. The increasing incidence of diseases, such as chronic and infectious diseases, is encouraging companies to enter the regional ELISA analyzers market

Genetic Testing Market Segmentation

Grand View Research has segmented the global genetic testing market report on the basis of technology, application, product, channel, end-use and region:

Genetic Testing Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Next Generation Sequencing

• Array Technology

• PCR-based Testing

• FISH

• Others

Genetic Testing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Ancestry & Ethnicity

• Traits Screening

• Genetic Disease Carrier Status

• New Baby Screening

• Health and Wellness-Predisposition/Risk/Tendency

Genetic Testing Product Outlook (Revenue, USD Million, 2018 - 2030)

• Consumables

• Equipment

• Software & Services

Genetic Testing Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Online

• Offline

Genetic Testing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics

• Diagnostic Laboratories

• Others

Genetic Testing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

o Italy

o Spain

o Denmark

o Sweden

o Norway

• Asia Pacific

o China

o Japan

o India

o Australia

o Thailand

o South Korea

• Latin America

o Brazil

o Argentina

• Middle East & Africa

o South Africa

o Saudi Arabia

o UAE

o Kuwait

Order a free sample PDF of the Genetic Testing Market Intelligence Study, published by Grand View Research.

#Genetic Testing Market #Genetic Testing Market Size #Genetic Testing Market Share #Genetic Testing Market Analysis #Genetic Testing Market Growth

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rohitpalan · 1 month ago

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Virtual Event Platforms Market: Projected Growth and Future Outlook (2023-2033)

In the year 2018, the global virtual event platforms market value was estimated to be US$ 3,751.5 million which registered a CAGR of 14.6% until 2022. As per the FMI market survey report, the demand for virtual event platforms globally reached US$ 6783.2 million in 2022.

In the present year, 2023 the global virtual event platforms market size is estimated to be nearly US$ 7,888 million. It is further poised to register a 16.6% CAGR through 2033 and reach an overall valuation of US$ 36,735.8 million by its end.

The virtual event platforms market saw good growth in the pandemic era owing to lockdown restrictions that were imposed to curb the spread of coronavirus infections across multiple nations in the world.

Technological proliferation has substantially increased across the world and this trend has penetrated all industries and applications. The increasing adoption of cloud-based technologies in businesses has enabled them to deploy multiple virtual solutions to ensure smooth business operations.

However, difficulty in software integration and compatibility issues across multiple platforms are expected to constrain virtual networking platform adoption. The lack of developed internet infrastructure in multiple economies is also expected to slow down market growth on a global scale.

Key Takeaways from the Virtual Event Platforms Market Study Report

The United States is the leading region in the adoption of all types of virtual event platforms in comparison to any other country. The net worth of its present market in the United States is US$ 1,537.3 million and is expected to grow at 13.2% over the next ten years.

Presently Germany is the largest shareholder of the global virtual event platform market in Europe and would generate nearly US$ 463 million in 2023. However, the virtual event platform market in the United Kingdom is expected to witness a year-on-year growth rate of 20.3% through 2033.

Demand for virtual event platforms in China is predicted to grow at a CAGR of 15.4% during the forecast period. By the end of this forecast period, this regional market is expected to reach US$ 1,879.4 million.

Meanwhile, India is anticipated to witness a robust growth rate of 24.5% in the adoption of virtual event platforms in the country. It is further expected to overtake the United States and reach a valuation of US$ 3,027.8 million by the end of the year 2033.

Demand for virtual event platforms is anticipated to be high for SMEs over the coming years at a CAGR of 18.4%.

Event management agencies currently account for a market share of 27.1% in the global virtual event platforms market landscape. While the enterprise or corporate sector is the leading segment and contributes nearly 30% of the market revenue generated globally.

At present, the academic institutions’ segment accounts for a market share of 13.2% in the global virtual event platforms marketplace. This segment is projected to grow at a higher rate of 21.4% in the adoption of virtual event platforms over the forecast years.

Competitive Landscape for the Virtual Event Platforms Market Players

Microsoft Corporation, Cisco Systems, Zoom Video Communications, Cvent Holding Corp., Evenium Inc., SpotMe Inc., Cadence Design Systems, Inc., Hubb LLC., InEvent Inc., KitApps Inc. (Attendify), Boomset Infotainment PVT Ltd., vFairs Inc., ubivent GmbH, and Kestone Inc. among others are some of the major players in the global virtual event platforms market.

Key Segments of Virtual Event Platforms Industry Survey

Virtual Event Platforms Market by Solution:

Software

Integrated Virtual Event Platforms

Standalone Software

Services

Live Event Support

Post Event Processing Services

Event Consulting Services

Support Services

Other Services

Virtual Event Platforms Market by Enterprise Size:

Virtual Event Platforms for SMEs

Virtual Event Platforms for Large Enterprises

Virtual Event Platforms Market by End User:

Virtual Event Platforms for Enterprises or Corporates

Virtual Event Platforms for Event Management Agencies

Virtual Event Platforms for Academic Institutions

Virtual Event Platforms for Trade Show Organizers

Others

Virtual Event Platforms Market by Region:

North America Virtual Event Platforms Market

Latin America Virtual Event Platforms Market

Europe Virtual Event Platforms Market

East Asia Virtual Event Platforms Market

South Asia & Pacific Virtual Event Platforms Market

Middle East & Africa (MEA) Virtual Event Platforms Market

#Virtual Event Platforms Market

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sublimeobservationarcade · 1 month ago

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Why Do We Have Wars?

Why do we have wars and the mass killings and destruction they engender? Men. Power hungry men who see violence as a means to an end. An end they desire, with their cabal in power. Why do we have wars? A current example of this is the Russian invasion of Ukraine, where Mr Putin’s trying to take control, by force, of a neighbouring country. There is no valid justification for killing people, whatever the political situation. Many of us shrug our shoulders and say, well, that is how the world has always been. Perhaps, but it is not good enough and we should never stop striving to progress beyond this reversion to violence and brute force.

“The Office of the United Nations High Commissioner for Human Rights (OHCHR) verified a total of 39,081 civilian casualties during Russia's invasion of Ukraine as of October 31, 2024. Of them, 26,919 people were reported to have been injured. However, OHCHR specified that the real numbers could be higher. After Russia annexed Crimea in 2014, Ukraine has seen a military conflict between the government and the Russia-supported separatist regions of Donetsk and Luhansk. OHCHR estimates that between 14,200 and 14,400 people, including civilians and military personnel, were killed in relation to that conflict from April 14, 2014, to December 31, 2021. Of them, at least 3,400 were civilians. “ (https://www.statista.com/statistics/1293492/ukraine-war-casualties/) In comparison, the IDF in Gaza has killed more than 45, 000 Palestinians in 14 months of war. – (https://www.aljazeera.com/news/2024/12/16/death-toll-from-israels-war-on-gaza-tops-45000)

Photo by ROMAN ODINTSOV on Pexels.com

Why Do We Buy & Sell Sex?

Why do we have prostitution and the commodification of sex in the world? Men. This is a demand driven business being serviced primarily by women under the auspices of pimps and those in the commercial sex sector. Prostitution is known as the oldest profession in existence and for much of that time has been illegal. Why has it continued? Because men want it to, whether they be punters, police, politicians, and those in power, more generally, they maintain it. Sex, when it is truly making love is a beautiful magical thing, outside of this it is empty and second rate. Selling sex is rarely a good thing. “Rod Olsen has co-owned a busy brothel, Club Pleasure in southeast Melbourne, since 2013, and used to manage it. He said the day-to-day operating of the business is much more “boring” than most people think. That’s because the sex industry in Australia is tied up in red tape, with sex service premises facing fines and closure if they don’t carefully follow a strict set of rules. “You have to jump through hoops every year to keep your license,” Mr Olsen said. “ (https://www.realcommercial.com.au/news/the-surprising-reality-of-owning-and-operating-a-brothel) “The market size, measured by revenue, of the Brothel Keeping and Sex Worker Services industry was $214.2m in 2023. The market size of the Brothel Keeping and Sex Worker Services industry increased 19.5% in 2023. The market size of the Brothel Keeping and Sex Worker Services industry in Australia has grown 4.2% per year on average between 2018 and 2023.” (https://www.ibisworld.com/au/market-size/brothel-keeping-sex-worker-services/)

Jeff Bezos by U.S. Air Force is licensed under CC-CC0 1.0

Why Do We Have The Rich & Poor?

Why do we have wealth inequality, which is becoming more extreme? Men. Men are in power everywhere you look. They are the bankers, the world leaders, the police chiefs, the business leaders and they make the rules. Sure, there are a smattering of women bosses here and there but men are, by far, in control of things. Inequality drives crime, poor health, addictions, and disenfranchises citizens from their communities. Inequality hurts children more than any other part of the demographic. If Elon Musk has a greater worth than many other nations let alone millions and millions of ordinary people – what does that tell us about the world? In the United States, they will not elect a woman president. Indeed, Donald Trump a convicted criminal has defeated women presidential candidates both times to achieve the highest office in the land. What does that infer about the most powerful country on earth? Power remains in male hands. “The differences between the average incomes of low, middle and high-income households in Australia are large. Someone in a household that falls in the highest 20% income group has more than twice the average disposable income of the middle 20% income group and six times as much as someone in the lowest 20% income group. The average income of the middle income group is almost three times that of the lowest income group. At the top end, income is even more heavily concentrated. The average income of the highest 5% income group is nearly four times the income of the middle 20% and nine times that of the lowest 20% income groups; while the average income of the highest 1% income group is almost three times that of highest 20% income group. People in the highest 20% income group receive 42% of all national income, which is more than the share of the lowest 60% combined. People in the lowest 20% receive only 6% of all household income, while the second lowest 20% receive 12%.” (https://povertyandinequality.acoss.org.au/inequality/)

Why Do We Have Domestic Violence? Why is Domestic Violence (DV) still at crisis levels in our wealthy Western societies? Men. Men commit acts of violence upon their partners and former partners well above that of women. 75% of reported incidents of DV are committed by men against women. The level of unreported acts would be, I suspect, much higher again. DV remains sticky in our communities because men are in power and they tolerate it. Most of the police forces are made up of men and have been since their beginnings. Similarly, the judicial system as a whole has been predominantly male for centuries. Men see things according to their cultural preconditioning and gender stereotypes. The lack of specific training in this area has been woefully inadequate for the longest time. Yes, there are small steps in the right direction happening but we are coming from a very low base. Getting men out of the positions of authority when dealing with DV is the only way to accelerate positive change. Why do we have wars? A war on women? “1 in 6 women have experienced physical or sexual violence by a current or former partner, while for men it is 1 in 16. 75% of victims of domestic violence reported the perpetrator as male, while 25% reported the perpetrator as female. Overall, 1 in 5 women and 1 in 20 men have experienced sexual violence.” (https://www.missionaustralia.com.au/domestic-and-family-violence-statistics#:~:text=1in6womenhave,itis1in16.&text=75ofvictimsofdomestic,reportedtheperpetratorasfemale.&text=Overall1in5women,menhaveexperiencedsexualviolence.) ©WordsForWeb

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trendsofmarket · 2 months ago

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Analysis of Automotive Retrofit Electric Vehicle Powertrain Market Top Companies, Business Growth & Investment Opportunities, Share and Forecasts

Research Nester assesses the growth and market size of the automotive retrofit electric vehicle powertrain market, which is anticipated due to the widespread implementation of strict regulations for vehicle emissions. Particulate matter emissions from cars are increasing, causing the quality of the air to decline. Governments all over the world have consequently imposed stringent emission regulations on automakers.

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Research Nester’s recent market research analysis on “Automotive Retrofit Electric Vehicle Powertrain Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global automotive retrofit electric vehicle powertrain market in terms of market segmentation by component type, vehicle type, electric vehicle type, and by region.

Growing vehicle sales to promote the global market share of the automotive retrofit electric vehicle powertrain market

The global automotive retrofit electric vehicle powertrain market is estimated to grow majorly on account of worldwide vehicle sales because automakers emphasize converting older cars to electric vehicles.. Furthermore, the demand for electric vehicle powertrains for retrofitted cars is expected to rise as countries around the world adopt emission-related standards and regulations. International Energy Agency in 2024 stated that sales of electric vehicles increased by 3.5 million in 2023 compared to 2022, a 35% annual increase. About 18% of all cars sold in 2023 were electric vehicles, up from only 2% five years prior in 2018 and 14% in 2022.

Some of the major growth factors and challenges that are associated with the growth of the automotive retrofit electric vehicle powertrain market are:

Growth Drivers:

Increasing fuel prices

Decreased EV battery cost

Challenges:

The presence of concerns related to the low availability of EV charging facilities is expected to affect the market growth and act as a restraining factor. Although there are currently EV charging stations being installed in several countries, most of them are not able to meet the required number of installations. As a result, fewer public EV charging stations are available, which reduces the number of individuals who drive electric vehicles. Most nations still do not have this kind of charging infrastructure.

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By component type, the automotive retrofit electric vehicle powertrain market is segmented into transmission, electric motors, converter, battery, and controller. The transmission segment is estimated to garner a significant market share over the forecast period. The segment’s growth is attributed to the ability to multispeed transmission and to create load-shifting capability on account of the latest research and development. For instance, Porshe Taycan 2020 has a feature of two-speed automatic transmission near its rear axle in its EV. The goal of this multispeed gearbox is to increase efficiency and acceleration at higher speeds. In addition, the Taycan has the option to run mainly on its front axle by disconnecting its rear axle.

By region, Asia Pacific is expected to generate the highest revenue by the end of 2036. In 2023, the Asia Pacific market has dominated the global sales, by about 45.9%. This growth was mainly fueled by the surge in the purchase of electric vehicles owing to their benefits. According to a report by the Economist Intelligence Unit in 2024, Asia will witness a growth rate of 63% in EV sales globally by 2029. Moreover, there are various government laws and regulations related to severe emissions. According to the Guide to Chinese Climate Policy 2022, several major Chinese cities impose license plate-based driving bans on passenger cars on specific days but do not apply to electric cars. This can act as a growing factor for the market growth. Furthermore, this region is a hub for markets for top companies such as Mando Corp., Mitsubishi Electric Corp., and Hitachi Astemo Ltd. This will act as an automotive hub and will grow this sector.

This report also provides the existing competitive scenario of some of the key players of the Mercedes Benz, AVID Technology, Revolution Electric Vehicles, EV Source, HSR Motors, UQM Technologies Inc., Magna International Inc., Meritor Inc., Bosch Ltd., Mitsubishi Electric Power Products, Inc., Hitachi Astemo, Ltd., Mando Corp.and many more.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives make wise decisions for their future marketing strategy, expansion, investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out-of-the-box thinking helps our clients to make wise decisions to avoid future uncertainties.

Contact for more Info:

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Email: [email protected]

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#Automotive Retrofit Electric Vehicle Powertrain Market trends #Automotive Retrofit Electric Vehicle Powertrain Market share

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global-research-report · 7 days ago

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Pathology Laboratories Market Insights: Innovations and Opportunities in Diagnostic Testing

The global pathology laboratories market size is estimated to reach USD 612.22 billion by 2030, registering a CAGR of 8.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. The major factors driving the industry include increasing life expectancy, the development of healthcare infrastructure in developing nations, favoring reimbursement, and rising demand for routine medical check-ups.

In addition, the advancement of technology is altering the dynamics of diagnosis. Innovative technologies have made Point of Care Testing(POCT) devices portable and improved sampling techniques, making diagnostic services more accessible and efficient. Several advancements are expected to transform the industry by steering patient care through quality, speed, efficiency, and scalability. The healthcare system is progressively emphasizing the importance of pathological & diagnostic labs in becoming a greater clinical decision-making engine, assisting physicians in making inferences and diagnosing as well as monitoring patients more quickly and accurately.

The COVID-19 pandemic has resulted in higher demand for pathology/diagnostic labs as the testing for COVID-19 was necessary during the pandemic. The rapid rise of COVID-19 infections has resulted in increased funding and testing, which has boosted the overall market growth. For instance, the (NIH) National Institutes of Health in the United States announced in September 2020 that it would grant USD 129.3 million in funding to nine organizations including, Maxim Biomedical Inc., MatMaCorp, MicroGEM International, & others, for scaling-up manufacturing assistance to a new set of COVID-19 testing technologies as component of its initiative to boost diagnostics in the region.

Pathology Laboratories Market Report Highlights

Based on type, hospital-based diagnostic labs dominated the market during the year 2024. This can be attributed to the advanced tests available at hospitals, making them the only best solution for complex diagnosis

Based on the end use, physician referrals dominated the market in 2024. Walk-in and corporate clients are expected to witness lucrative growth due to increased self-awareness for monitoring health and wellness among individuals

S. is expected to have a high demand for the diagnosis of cardiovascular health as a result of the most prominent disease in the U.S.

Europe is expected to have a significant CAGR during the forecast period. Denmark has the highest prevalence of cancer globally in terms of cancer prevalence as per the World Cancer Research Fund International

The market is witnessing multiple collaborations in recent times with the key players aiming at adding value to their services & expanding their research. For Instance, in July 2022, Unilabs announced a partnership with Subtle Medical, to be the first diagnostic company to adopt their AI-based MRI technology for high-quality & quick MRI. The solution will be first launched in Sweden.

Pathology Laboratories Market Segmentation

Grand View Research has segmented the global pathology laboratories market on the basis of type, testing services, end-use, and region:

Pathology Laboratories Type Outlook (Revenue, USD Million, 2018 - 2030)

Hospital-based

Standalone Labs

Diagnostic Chains

Pathology Laboratories Testing Services Outlook (Revenue, USD Million, 2018 - 2030)

General Physiological & Clinical Tests

Imaging & Radiology Tests

Esoteric Tests

COVID-19 Tests

Pathology Laboratories End User Outlook (Revenue, USD Million, 2018 - 2030)

Physician Referrals

Walk-ins

Corporate

Pathology Laboratories Region Outlook (Revenue, USD Million, 2018 - 2030)

North America

Canada

Mexico

Europe

Germany

France

Italy

Spain

Denmark

Sweden

Norway

Asia Pacific

China

Japan

India

South Korea

Australia

Thailand

Latin America

Brazil

Argentina

Middle East & Africa (MEA)

South Africa

Saudi Arabia

UAE

Kuwait

List of Key Players

Quest Diagnostics Incorporated

Eurofins Scientific

Laboratory Corporation of America Holdings

Exact Sciences Laboratories LLC

Spectra Laboratories

SYNLAB International GmbH

Sonic Healthcare Limited

Lal Path Labs

Metropolis Healthcare

Kingmed Diagnostics

Healius Limited

Centro de Diagnósticos

Falco Holdings

Unilabs

Order a free sample PDF of the Pathology Laboratories Market Intelligence Study, published by Grand View Research.

#Pathology Laboratories Market

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marketanalysisdata · 3 months ago

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Permanent Magnets Market Analysis, Growth Forecast by Manufacturers, Regions and Application to 2030

In 2023, the global permanent magnets market reached a valuation of USD 22.18 billion and is projected to grow at an 8.7% compound annual growth rate (CAGR) from 2024 through 2030. This growth is largely driven by the increasing demand for renewable energy sources like wind and solar power. Permanent magnets play a critical role in enhancing the efficiency of wind turbine generators, a key application area in this sector. Specifically, rare earth magnets such as Neodymium Ferrite Boron (NdFeB) are commonly used in wind turbines due to their high reliability and reduced maintenance needs.

In the United States, the demand for permanent magnets is anticipated to grow at a faster rate than that for ferrite magnets, driven by applications in high-tech sectors like robotics, wearable technology, electric vehicles (EVs), and wind energy. Following the 2008-09 economic downturn, the U.S. automotive industry has seen steady recovery, with a growing emphasis on electric vehicles. Notably, the adoption of plug-in electric vehicles has increased, spurred by innovations from prominent manufacturers including Tesla, Chevy, Nissan, Ford, Audi, and BMW. For example, Tesla began incorporating motors with neodymium magnets in 2018.

Despite this growth, the U.S. faces a supply challenge due to a limited number of domestic manufacturers for permanent motor magnets, leading to substantial imports. In 2023, the U.S. imported around 4 million pounds of automotive parts from China, a majority of which were electric motors. The ongoing trade tensions with China have raised concerns about access to essential rare earth materials. In response, the U.S. government has launched several initiatives, including funding mining projects under the Defense Production Act, aiming to bolster the domestic supply of rare earth materials and reduce dependence on imports.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Material Segmentation Insights:

In 2023, ferrite materials dominated the permanent magnet market, capturing a revenue share of approximately 36.0%. Ferrite magnets are predominantly used in motor applications, accounting for over 65% of total ferrite magnet usage. Their application spans automotive motors (19%), appliance motors (14%), HVAC systems (12%), and various industrial and commercial motors (11%) as of 2022. Additional uses of ferrite magnets include loudspeakers, separation equipment, Magnetic Resonance Imaging (MRI), relays & switches, and lifting devices.

The Neodymium Iron Boron (NdFeB) segment is expected to be the fastest-growing segment by volume and revenue in the forecast period. Over the last five years, NdFeB magnets have expanded into various applications, including electric and hybrid vehicle motors, wind power generators, air conditioning compressors and fans, and energy storage systems. Another important material in this market is Alnico, an alloy made from aluminum, nickel, and cobalt. Prior to the discovery of NdFeB in the 1970s, Alnico-based magnets were the strongest available. According to Magnet Applications, Inc., the average energy density (BHmax) of Alnico magnets is 7 MGOe, which is higher than ferrite magnets but significantly lower than that of NdFeB magnets.

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

#Permanent Magnets Industry #Permanent Magnets Market Share #Permanent Magnets Market Analysis #Permanent Magnets Market Trends

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marketstudyreport · 3 months ago

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Permanent Magnets Market 2030 Overview, Global Industry Size, Price, Future Analysis

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Material Segmentation Insights:

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

#Permanent Magnets Industry #Permanent Magnets Market Share #Permanent Magnets Market Analysis #Permanent Magnets Market Trends

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industrynewsupdates · 1 month ago

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Superconducting Wire Market: A Comprehensive Overview of Growth and Innovation

The global superconducting wire market size was estimated at USD 1.14 billion in 2023 and is estimated to grow at a CAGR of 9.0% from 2024 to 2030. Superconducting wire offers superior conduction of electricity with minimal losses making it a popular wire material for energy generation and critical applications. The growing demand for efficient power transmission is anticipated to boost the market over the forecast period.

Superconducting wires have several benefits when compared to copper wires, owing to the higher maximum current densities and zero power dissipation that it exhibits. They are widely used in superconducting magnets, which are used in scientific and medical equipment where high magnetic fields are necessary.

Gather more insights about the market drivers, restrains and growth of the Superconducting Wire Market

Key Superconducting Wire Company Insights

Some of the key players operating in the market include Kennametal Inc., and Sandvik AB.

• Japan Superconductor Technology Inc. was founded in 2002 and is specialized in the manufacture of superconducting material and technology. Its product line includes NbTi and Nb3Sn superconducting wire, High-resolution NMR magnets, various magnets for use in MRI and R&D, component parts and accessories for superconducting magnets

• U.S.-based American Superconductor was founded in 1987 and specializes in the production of superconducting wires and products for the development of energy & power systems.

Recent Developments

• In December 2023, U.S.-based MetOx International, Inc., a producer of advanced power delivery technology, announced the expansion of its Xeus HTS wire manufacturing.

• In June 2023, Japan-based JEOL Ltd. acquired a minority stake in Japan Superconductor Technology, Inc. from Kobe Steel, Ltd. as part of its business expansion strategy.

• In January 2023, UK-based Tokamak Energy signed an agreement with Furukawa Electric Co., Ltd. and SuperPower Inc. to supply HTS tape for its new advanced prototype fusion device, ST80-HTS.

Global Superconducting Wire Market Report Segmentation

This report forecasts revenue and volume growth at global, country, and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global superconducting wire market report on the basis of product, end-use and region.

Product Outlook (Revenue, USD Million, 2018 - 2030)

• Low Temperature Semiconductor

• Medium Temperature Semiconductor

• High Temperature Semiconductor

End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Energy

• Medical

• Research

• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

o Italy

o Spain

• Asia Pacific

o China

o India

o Japan

o South Korea

• Central & South America

• Middle East & Africa

Order a free sample PDF of the Superconducting Wire Market Intelligence Study, published by Grand View Research.

#Superconducting Wire Market #Superconducting Wire Market Size #Superconducting Wire Market Share #Superconducting Wire Market Analysis #Superconducting Wire Market Growth

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rohitpalan · 2 months ago

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Global Power Management Integrated Circuit Market Expected to Reach US$ 31.2 Billion by 2024

The Power Management Integrated Circuit (PMIC) Market is likely to surge at a vigorous 6.6% CAGR during the assessment period 2022 – 2027 and is anticipated to progress at a CAGR of 6.6% to reach US$ 28.1 Bn in 2022 and US$ 41.2 Bn by 2027.

Rising sales of smart devices across the globe

Growing energy harvesting initiatives

Introduction of compact and high-efficiency PMICs

Ongoing industrial automation and vehicle electrification

The FMI study finds that demand for power management integrated circuit (PMIC) in communication equipment application is projected to grow at a higher rate. In 2019, PMIC application in communication equipment is expected to grow at 8.5% y-o-y. The projected growth can be attributed to buoyancy in the telecommunication industry owing to increasing demand for connectivity and adoption of communication equipment starting from analogue switches to smartphones to communication satellites.

Personal Electronics Application Registers Leading Revenues

The FMI study finds that demand for power management integrated circuit (PMIC) remains higher in personal electronics devices. In 2018, sales of power management integrated circuit garnered revenues worth over US$ 5.7 billion in 2018 and held 27% of the global PMIC market share. The demand trend in personal electronics application is expected to continue in 2019 at the rate of 6.6% y-o-y.

A plethora of personal electronics devices and their rising adoption rate in the wake of increasing millennial population, expansion of middle class and increased purchase capacity are factors responsible for the increasing demand for power management integrated circuit (PMIC) in personal electronics application. In addition, manufacturers in the consumer electronics industry highly utilize PMIC to optimize energy consumption in compact devices.

Industrial application of power management integrated circuit (PMIC) registered second highest revenues and accounted for over one-fifth of the market revenues in 2018. Demand for power management integrated circuit (PMIC) in an automotive sector closely follows revenues in industrial application.

PMIC Marketplace Moderately Consolidated

Leading players in the power management integrated circuit (PMIC) marketplace share considerable revenues. Texas Instruments, STMicroelectronics, NXP Semiconductors N.V., ON Semiconductor Corporation and Analog Devices, Inc. are prominent market players, of which ON Semiconductor is the front runner.

Small and mid-sized players are leveraging strategies such as introduction of low-priced products to establish a stronghold in the domestic market. Increasing revenues of these players are eating into the shares of prominent PMIC market players.

APEJ Revenues Continue to Surge

The FMI study finds that APEJ continues to register leading position in the power management integrated circuit (PMIC) market. In 2018, over two-fifth of the PMIC market revenues were accounted for APEJ region, of which over 67% share was registered from China and India.

The region presents significant growth of the end-user industries of the power management integrated circuit (PMIC) market, thereby garnering leading revenues

The FMI study finds that North America continues to register the second leading position in the power management integrated circuit (PMIC) market. In 2018, over one-fourth of the PMIC market revenues were accounted for the North America region, of which over 81% share was registered from the U.S.

Across the globe, increasing energy harvesting initiatives and their penetration in the semiconductor industry has generated lucrative opportunities for power management integrated circuit (PMIC) market. As the global demand for electricity rises and the world enters the era of IoT and digitalization, demand for power management integrated circuit (PMIC) is set to rise in the coming years.

#Power Management Integrated Circuit Market

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iso27001certificationinqatar · 3 months ago

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GDPR Certification in Pune: Ensuring Data Protection and Privacy

In an age where data breaches and privacy concerns dominate headlines, the importance of data protection cannot be overstated. The General Data Protection Regulation (GDPR), enacted by the European Union (EU) in 2018, has set a global benchmark for data privacy and protection. While it primarily applies to organizations operating within the EU, its reach extends to any business that processes the personal data of EU citizens, regardless of where the organization is located. For companies in Pune, understanding and complying with GDPR is essential for protecting customer data and maintaining regulatory compliance. This blog will explore the significance of GDPR certification, its implications for businesses in Pune, the certification process, and the benefits it offers.

Understanding GDPR

GDPR certification in Pune is a comprehensive data protection regulation that aims to protect the privacy and personal data of individuals within the EU. It outlines strict guidelines on how organizations should collect, store, and process personal data. Key principles of GDPR include:

Transparency: Organizations must inform individuals about how their data will be used and obtain explicit consent before processing.

Data Minimization: Only the data necessary for a specific purpose should be collected.

Accuracy: Organizations are responsible for ensuring the accuracy of the data they collect and must rectify any inaccuracies promptly.

Storage Limitation: Personal data should be retained only as long as necessary for the purpose for which it was collected.

Integrity and Confidentiality: Organizations must implement appropriate security measures to protect personal data from unauthorized access, disclosure, and destruction.

Failure to comply with GDPR can result in significant fines, reaching up to 4% of a company’s global annual revenue or €20 million, whichever is higher.

The Importance of GDPR Certification in Pune

Pune, a thriving IT and business hub, is home to numerous organizations that collect and process personal data. For businesses operating in this environment, GDPR certification offers several critical advantages:

Compliance with Legal Requirements: GDPR registration in Pune ensures that organizations comply with the stringent data protection regulations outlined by the EU. This compliance is essential for avoiding hefty fines and legal repercussions.

Building Customer Trust: In a world increasingly concerned with privacy, customers are more likely to engage with businesses that prioritize data protection. GDPR certification demonstrates a company’s commitment to safeguarding customer data, enhancing its reputation and credibility.

Competitive Advantage: With data privacy becoming a key differentiator in the market, organizations with GDPR certification can stand out among competitors. This certification signals to potential clients and partners that the business is serious about data protection.

Risk Mitigation: Achieving GDPR certification requires organizations to implement robust data protection measures, reducing the risk of data breaches and cyberattacks. This proactive approach not only protects sensitive information but also helps mitigate potential financial losses associated with data breaches.

Access to Global Markets: For businesses in Pune seeking to expand their operations internationally, GDPR certification is crucial. It allows organizations to engage with EU clients and customers while ensuring compliance with local data protection laws.

The GDPR Certification Process

Obtaining GDPR certification involves several key steps that organizations must follow:

Gap Analysis: Conduct a comprehensive assessment to identify areas where the organization’s data protection practices do not meet GDPR requirements. This analysis helps pinpoint weaknesses and areas for improvement.

Implementing Policies and Procedures: Develop and implement data protection policies, procedures, and protocols to address the identified gaps. This may include updating privacy notices, consent mechanisms, and data handling practices.

Training and Awareness: Educate employees about GDPR implementation in Pune and best practices for data protection. Ensuring that staff understand their roles and responsibilities in safeguarding personal data is critical for compliance.

Documentation: Maintain thorough documentation of data processing activities, including data inventories, processing agreements, and privacy impact assessments. This documentation is essential for demonstrating compliance during audits.

Third-Party Assessments: If applicable, organizations should engage a third-party certification body to conduct an external audit of their data protection practices. This independent assessment provides an objective evaluation of compliance.

Certification: Upon successful completion of the assessment and implementation of necessary measures, organizations can obtain GDPR certification from an accredited certification body.

Choosing a Certification Body in Pune

When seeking GDPR certification, selecting the right certification body is crucial. Organizations in Pune should consider the following factors:

Accreditation: Ensure the certification body is accredited and recognized by relevant authorities. This accreditation enhances the credibility of the certification.

Experience: Look for a certification body with a proven track record in GDPR certification and data protection assessments.

Comprehensive Services: Choose a body that offers a full range of services, including gap analysis, training, and ongoing support for maintaining compliance.

Conclusion

As data protection and privacy continue to be pressing concerns for consumers and organizations alike, GDPR certification has become essential for businesses operating in Pune. By prioritizing compliance with GDPR, organizations not only protect their customers’ data but also enhance their credibility, mitigate risks, and gain a competitive edge in the marketplace. In a rapidly evolving digital landscape, GDPR consultant in Pune serves as a critical investment in the future of data security and privacy, positioning organizations for success in an increasingly data-driven world.

#GDPR Consultants in Pune #GDPR in Pune #GDPR Implementation in Pune #GDPR Registration in Pune #GDPR Certification Services in Pune

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