The silicon carbide (SiC) MOSFETs market size is $2.3 billion in 2024 and is anticipated to reach $47.2 billion in 2035, growing at a CAGR of 31.8% during the forecast period (2025-2035). SiC MOSFETs are increasingly gaining popularity owing to electric vehicle efficiency, renewable energy efficiency, industrial drives, aerospace applications, defense systems, and government policy-driven cost reduction for energy efficiency. Additionally, SiC MOSFETs increase the efficiency of solar and wind power, lowering the losses in energy, and high-voltage operation enables utility-scale renewable deployments, which fuels the market growth.
Respiratory catheters market was valued at $8,240 million in 2024 and is projected to reach $14,839 million in 2035, witnessing a CAGR of 5.5% during the forecast period (2025-2035). The growing incidence of respiratory illnesses, aging population, technological innovation, rising ICU admissions, and home healthcare needs are the factors leading to the increased respiratory complications. Moreover, increased air pollution, growing healthcare infrastructure, and government policies are factors leading to this problem.
Outboard engine market size was $10,510 million in 2024 and is anticipated to reach $19,092 million in 20235, growing at a CAGR of 5.6% during the forecast period (2025-2035). The marine outboard engine market was 956,000 units per annum in 2023. Growing recreational boating activities due to the robust economic growth, and changing consumer behaviors toward boating for spending time with family and friends, will boost market growth. The National Marine Manufacturers Association (NMMA) states that the gross outdoor recreational boating and fishing output stood at USD 32.4 billion in 2022. As disposable incomes rise, people and households tend to spend on leisure activities, such as boating. This development benefits the outboard engine market since boating is a luxury or leisure expense. Yachts are one of the preferred modes of recreational boating that provide luxury, comfort, and performance on the water.
Metering pumps market size was $6,750 million in 2024 and is projected to grow to $10,747 million by 2035, witnessing a CAGR of 4.3% during the forecast period (2025-2035). The metering pumps market is growing rapidly due to increasing demand from end-use industries such as water-treatment, petrochemicals-and-oil & gas, chemical processing, pharmaceuticals, paper-&-pulp, textiles, automotive, and food & beverages. Furthermore, growing stringent regulations for wastewater treatment by government bodies such as the UN World Water Development and Environmental Protection Agency (EPA) will drive market growth.
Gastrointestinal catheters market is anticipated to reach $5.5 billion in 2035 from $3.4 billion in 2024, growing at a CAGR of 4.5% during the forecast period (2025-2035). The increase in gastrointestinal diseases, the need for minimally invasive procedures, advancement in catheter technology, and the increase in the population of elderly people are all drivers of the increase in GI disorders. Healthcare expenditure and infrastructure in emerging economies are increasing, coupled with awareness of enteral feeding tubes. Government policies and regulatory support ensure the safety and efficacy of GI catheters.
Digital shipyard market size will reach $12.3 billion in 2035 from $1.7 billion in 2024 and is projected to grow at a CAGR of 19.7% during the forecast period (2025-2035). Digital solutions are revolutionizing shipbuilding, naval modernization, international maritime trade, Industry 4.0, sustainability, and logistics. Digital twins and PLM software simplify design, minimize production defects, and speed up timelines. Nations such as the US, China, India, and the UK are investing in smart naval shipyards. Industry 4.0 technologies such as AI, IoT, robotics, and AR enhance productivity and quality control. Digital solutions assist in monitoring emissions and optimizing fuel efficiency.
C5ISR market is projected to reach $43,459 million by 2035, from $10,720 million in 2024, at a CAGR of 13.7% during the forecast period (2025-2035). Modernization of the defense infrastructure, including C5ISR systems, is driven by the need for real-time information, integration with artificial intelligence, satellite and communication infrastructure, cybersecurity threats, the rise of unmanned systems, interoperability, and network-centric warfare. Government programs and partnerships are further being initiated to enhance defense technology and infrastructure.
Building Information Modeling (BIM) market size was $8,250 million in 2024 and is projected to grow to $35,545 million by 2035, witnessing a CAGR of 14.2% during the forecast period (2025-2035). The Increasing demand in construction industries for collaborative processes, technological advancements such as artificial intelligence (AI), the internet of things (IoT), and cloud-based solutions are driving the building information modeling market. Additionally, rapid urbanization and infrastructure expansion, especially in developing countries, are driving the demand for BIM solutions to streamline large-scale construction projects.
BOPET (Biaxial Oriented Polyethylene Terephthalate) films market size was $10.4 billion in 2024 and is projected to reach $20.2 billion in 2035, growing at a CAGR of 6.2% during the forecast period (2025-2035). The increasing adoption of BOPET films is across various industries owing to their versatile properties, such as high tensile strength, thermal stability, chemical and dimensional stability, transparency, reflectivity, gas and aroma barrier properties, and electrical insulation. Further, plastic BOPET films industry is projected to account for 17% ($11 billion) of the overall film market in 2025. The growing demand for lightweight and sustainable packaging solutions is further projected to support BOPET globally.
Artificial lift pumps market was valued at $7.6 billion in 2024 and is projected to grow at a CAGR of 4.6% between 2025 and 2035. By 2035, the market is anticipated to reach $12.4 billion. Increased production from existing oil and gas fields, rising crude oil and natural gas demand, and advancements in technology are the major driving factors behind the growth of the Artificial Lift System Market. Additionally, the increasing energy requirement, exploration, and production companies are targeting oil and gas production from unconventional and mature reservoirs, providing a large opportunity for artificial lift systems.
Aminic antioxidants market was valued at $1.3 billion in 2024 and is projected to reach $2.1 billion by 2035, growing at a CAGR of 4.8% during the forecast period from 2025 to 2035. The market for aminic antioxidants is seeing tremendous growth with increased application in different industries. Their improved oxidative stability and thermal stability make them essential elements in the use of lubricants, rubber, and plastic. Market growth is driven by increasing automotive and industrial segments, as the antioxidants improve the durability and performance of products.
4D imaging radar market was valued at $3.2 billion in 2024 and is projected to grow at a CAGR of 21.4% over the forecast period (2025–2035), reaching approximately $26.7 billion by 2035. The global 4D imaging radar market is expanding due to rising vehicle safety demands, autonomous vehicle advancements, technological innovations, stricter regulations, automotive production expansion, and smart city emergence. Additionally, the increasing use of Advanced Driver Assistance Systems (ADAS) and autonomous vehicles is boosting the need for robust, long-range radar systems, especially 4D imaging radar.
Peristaltic pumps market was valued at $1,875 million in 2024 and is expected to grow at a CAGR of 6.2% during the forecast period 2025 to 2035, reaching an estimated $3,607 million by 2035. The demand for peristaltic pumps is growing based on their sterility, precision, and fluid compatibility. Peristaltic pumps find application in pharmaceuticals, biotech, water and wastewater treatment plant projects, the food and beverage industry, and chemical and industrial processes. Advances in technology, such as digital interfaces and IoT integration, are enhancing operating efficiency. Peristaltic pumps are increasingly being used in medical applications with the aging population and the growing healthcare infrastructure in developing markets. Emerging economies are additionally witnessing growth in industrial automation and fluid control processes.
Catastrophe insurance market was valued at $215 billion and is projected to reach $360 billion by 2035, growing at a CAGR of 4.8% during the forecast period from 2025 to 2035. The catastrophe insurance demand is fueled by growing climate-related catastrophes, urbanization, infrastructure expansion, regulatory needs, AI and big data analytics, heightened reinsurance demand, increased awareness, and increasing economic losses as a result of the rising cost of disaster recovery.
Business intelligence market size was valued at $34.5 billion in 2024. The market is projected to grow from $37.3 billion in 2025 to $86.8 billion by 2035, exhibiting a CAGR of 8.8% during the forecast period (2025-2035). Businesses are collecting huge quantities of data, leading to the application of BI tools for processing and decision-making. Cloud BI is adaptive, scalable, and affordable, apt for SMEs. Real-time analytics are increasing in demand, necessitating AI and ML-powered platforms. BI powered by AI complements traditional systems, while remote working and hybrid models stimulate demand. Industry-wide BI integration improves customer experience, supply chain efficiency, and regulatory compliance. It additionally helps businesses to monitor market trends and remain competitive.
Architecture design software market was valued at $4.2 billion in 2024 and is projected to grow at a CAGR of 12.3% from 2025 to 2035, reaching an estimated $15.2 billion by 2035. Architecture design software market is expanding as a result of urbanization, smart infrastructure demand, and digitalization. The key drivers include increasing construction activities, BIM adoption, sustainable architecture, 3D/VR/AR technologies, remote collaboration, and government regulations for the use of BIM in public infrastructure.
Global ornithopter drone market is growing at a CAGR of 14.8% from 2025 to 2035. Ornithopters are versatile tools for defense, agriculture, and environmental monitoring owing to their silent flight, gentle dynamics, minimal noise, and advancements in AI and lightweight materials. Technological innovation in drones, incorporating biological flight patterns and advanced stealth features, is driving market expansion beyond civilian use, focusing on military, defense, and security sectors globally. For instance, in May 2025, China unveiled invisible drones that mimic bird flight dynamics, enabling them to evade detection by humans and conventional radar systems.
Thermal silicone gel market is projected to grow from $1.5 billion in 2024 to $2.8 billion by 2035, registering a CAGR of 5.6% over the forecast period (2025–2035). Thermal silicone has been gradually gaining traction in the global market as an advanced alternative to thermal pads in industries including electronics, telecommunication, and automotive. Further, the trend for miniaturization of electronic components and the growth of markets such as data centers and 5G are widely contributing to its adoption of industry. However, the industry's inclination to shift towards silicon-free alternatives may pose a considerable hindrance to market expansion for the forecast period.
Cargo pumps market size was $3.4 billion and is projected to reach $6.0 billion in 2035, growing at a steady CAGR of 5.1% during the forecast period (2025-2035). Cargo pump products are increasingly gaining traction across industries such as marine, oil & gas, and chemicals, among others, owing to growing volumes of maritime trade, increasing demand for efficient cargo handling products, and constant advancements in cargo pump offerings. Further, the rapidly expanding footprint of industrial manufacturing and product exports, particularly in emerging markets, is projected to support the demand for cargo pumps globally.
Shipbuilding market was valued at $148.0 billion in 2024 and is growing at a CAGR of 3.5% over the forecast period (2025–2035), reaching a projected market size of $215.2 billion by 2035. The market size is projected to reach $215.2 billion in 2035. The growth of global trade, environmental legislation, defense expansion, offshore energy initiatives, technology growth, fleet renewal, and government stimulus is fueling the demand for cargo and container ships. Growing seaborne commerce spurs the demand for cargo and container ships while rising geopolitical tensions spur defense spending and demand for submarines, destroyers, and aircraft carriers. Technological growth comprises smart ship technology, automation of shipyards, and additive manufacturing. The cruise industry is additionally picking up, and fleet renewal and aging ships require more replacements. In 2025, global ocean cruise line revenue from ticket and onboard spending is estimated at $72.5 billion (a 7.7% increase over 2024) with 33.7 million annualized passengers carried (a 4.9% increase over 2024).
Aerospace 3D printing market size was $3.6 billion in 2024, and is projected to reach $20.2 billion in 2035, growing at a CAGR of 17.0% during the forecast period (2025-2035). 3D printing is used in the aerospace industry to build rockets and plane parts. This technology creates lighter, more durable, and cheaper components. It reduces the number of parts needed for assembly, making the vehicles lighter and more fuel-efficient. 3D printing is getting more popular in the aerospace industry. It helps make complex and lightweight components, improving fuel efficiency and cutting manufacturing costs. Also, it allows making parts that are hard or impossible to create using traditional methods. More aerospace companies are using 3D printing to simplify their production and create new designs.
Propionic acid market was valued at $1,250 million and is anticipated to grow at a CAGR of 3.8% during the forecast period (2025-2035). The market for propionic acid is expanding rapidly owing to the increasing usage of propionic acid in the food and beverage industries is one of the primary growth factors for the market growth. Food and beverage preservatives are in high demand, and propionic acid is used as an addition to prolong the shelf life of products such as bread and baked goods, that boosts consumption. Additionally, its use in animal feed to prevent mold growth increases agricultural demand. According to the International Feed Industry Federation (IFIF), global compound animal feed production is estimated at one billion tons annually. Global commercial feed manufacturing generates an estimated annual turnover of over $400 billion.
Silicon carbide (SiC) inverters market is anticipated to grow at a CAGR of 9.1% during the forecast period (2025-2035). The market for silicon carbide inverters is experiencing rapid growth, driven by rising demand across various industries for energy-efficient power conversion solutions. SiC inverters are considered superior to other alternatives owing to efficiency, power density, and thermal management, and therefore have the highest applications in electric vehicles, renewable energy systems, and industrial automation. Furthermore, continuous developments in the manufacturing technologies of SiC are lowering production costs, thereby fueling further adoption. The increasing emphasis on sustainability and energy optimization is also driving the growth of SiC-based solutions.
The Optical digitizer and scanner (ODS) market was valued at $1,500 million in 2024 and is projected to reach $3,072 million in 2035, growing at a CAGR of 6.7% during the forecast period (2025-2035). Integration into robotic systems for manufacturing and inspection automation, and integration with IoT devices and cloud platforms for instant data sharing and analysis, growing demand for customized scanning solutions, increasing use of portable and lightweight optical digitizers for on-site scanning, are some of the factors propelling the industry's expansion. According to the Photonics Industry and Market Data Report 2024, all photonic systems for the mobility sector (automotive, railway, aeronautics, etc.) account for a market of $57.5 billion in 2022. The market for large instruments and space segments will be valued at approximately $4.5 billion in 2022. The market for camera modules is worth $28 billion, whereas the market for smartphone modules, such as 3D sensors, is worth $6 billion. The total worth of computer accessories, such as optical disk drives, laser printers, and optical mice, is approximately $10 billion.
The piezoelectric materials market was valued at $1,455 million in 2024 and is projected to reach $2,420 million in 2035, growing at a CAGR of 4.7% during the forecast period (2025-2035). The piezoelectric material market is growing owing to extensive applications in medical devices, vehicle sensors, consumer products, and industrial automation utilizing the materials. Higher energy-efficient and self-powered technology demands have increased the usage further for energy-harvesting products. Innovative technology in the area of materials science is fostering the development of new-generation high-performance, eco-friendly, and lead-free piezoelectric materials.
The telerehabilitation market was valued at $5,400 million in 2024 and is projected to reach $14,147 million in 2035, growing at a CAGR of 9.2% during the forecast period (2025-2035). The market is growing as more people are looking for home-based rehabilitation, wearable technology is being incorporated more frequently, AI-driven treatment platforms are more individualized and improve patient outcomes by offering individualized care, and telerehabilitation is enabling cognitive and behavioral therapy to treat mental health issues remotely.
The screw pump market was valued at $2,730 million in 2024 and is projected to reach $4,670 million in 2035, growing at a CAGR of 5.0% during the forecast period (2025-2035). The growing adoption of efficient fluid transfer solutions in a range of industries, including food processing, chemicals, water treatment, and oil and gas, has led to the development of high-performance screw pumps. Technological innovation and increased demand for reliable and persistent pumping systems have been key drivers for these developments. Energy efficiency and lower maintenance costs have grown into important market drivers as companies look to save operational expenses and streamline their operations.
The plasticizers market was valued at $17,850 million in 2024 and is projected to reach $36,422 million in 2035, growing at a CAGR of 6.3% during the forecast period (2025-2035) driven by the growing infrastructure development, expanding construction sector, demand for bio-plasticizers, and increase in demand for flexible polyvinyl chloride (PVC). According to the European Plasticizer, in 2023, yearly the global consumption of plasticizers reached 10.8 million tons. The European plasticizer industry’s market value is $2.2 billion in 2023. By 2030, the industry aims to achieve 1 million tons per year of recycled PVC used in new products.
The die bonder equipment market was valued at $1,025 million in 2024 and is projected to reach $1,524 million in 2035, growing at a CAGR of 3.7% during the forecast period (2025-2035). The growing demand for high-precision semiconductor assembly solutions in innovative fields such as optoelectronics, MEMS, and power electronics is driving the market expansion. The pace of die-bonding technology usage is growing with the establishment of automated manufacturing facilities and demand for higher yields. The semiconductor fabrication plants are also witnessing rising investments, chipset-based architectures, and heterogeneous integration, which contribute to the industry's growth.
Cobalt market reached 220 kt in 2024 and is anticipated to grow at a CAGR of 8.3% during the forecast period (2025-2035). According to the Cobalt Institute, cobalt demand reached approximately 200 kt in 2023, doubling since 2016 with 10% yoy growth. Batteries now dominate 73% of the market, driving 93% of total demand growth. EVs alone account for 45% (90 kt), growing 23% yoy. Portable electronics, the second-largest sector (26%), saw demand drop 2.4% yoy to just under 52 kt. Increased cobalt metal adoption for electric vehicle batteries, renewable energy storage, and other new industrial and aerospace applications are propelling the growth of the market.
The bundling machine market was valued at $4,279 million in 2024 and is projected to reach $5,480 million in 2035, growing at a CAGR of 2.3% during the forecast period (2025-2035). The bundling machine market is expanding owing to the increasing automation of packaging processes in different industries such as food & beverage, pharmaceuticals, consumer goods, cosmetics, and personal care. The increase in e-commerce and retail sectors, the need for high-speed and efficient bundling solutions has also increased. Technological innovation and sustainable packaging trends are pushing the market growth forward.
The neopentyl glycol market was valued at $1,720 million in 2024 and is projected to reach $2,751 million in 2035, growing at a CAGR of 4.4% during the forecast period (2025-2035). The rising neopentyl glycol demand across several end-user industries, such as transportation, building & construction, and automobiles is contributing to industry growth. Strong oxidation resistance has also been reported for this molecule, which is non-polar, advancements in paint and oil coatings significantly expand the market. The use of advanced sealants and adhesives that are easy to handle and have low volatile organic compounds (VOCs) is also contributing to this expansion. According to the Association of the European Adhesive & Sealant Industry (FEICA), the European adhesives and sealants (A&S) market in 2022 was 4.8 million tons with a value of €19.9 billion ($20.9 billion). Adhesives accounted for 83.5% share of the total volume in 2022 and 74.7% share of the value.
The graphics double data rate (GDDR) market was valued at $6,528 million in 2024 and is projected to reach $15,788 million in 2035, growing at a CAGR of 8.4% during the forecast period (2025-2035). GDDR is a performance memory commonly used in graphics cards. Unlike standard double data rate (DDR) memory, GDDR is optimized for the parallel processing demands of graphics rendering. It's designed to deliver high bandwidth, making it ideal for handling the vast amount of data required by modern graphics-intensive applications. Growth in the gaming business, advancement in graphic technologies, adoption in data centers, are some of the major drivers for the graphics double data rate market growth. It is well suited for tasks such as gaming, video editing, and 3D rendering.
Soda ash market was estimated at $20.4 billion in 2024 and is projected to reach $32.1 billion by 2035, growing at a CAGR of 4.3% during the forecast period (2025-2035). Soda ash market growth is positively influenced by factors such as growing demand for soda ash in glass manufacturing, expanding application in sustainability, and advancements of sustainable production methods for soda ash production. Further, the soda ash industry growth is highly reliant on reducing GHG emissions, and developing sustainable infrastructure for production, as the regulatory frameworks for the manufacturing industry are expected to pose considerable hinderances.
Liquefied natural gas (LNG) market size was valued at $135.7 billion in 2024 and is projected to reach $290.0 billion in 2035, growing at a CAGR of 7.2% during the forecast period (2025-2035). LNG market growth is majorly supported by global efforts to diversify energy sources in the power generation sector, geopolitical disruptions, investments by countries into LNG infrastructure, and shifts towards cleaner energy sources. According to the IEA's worldwide Energy Outlook 2024-2028, worldwide LNG production capacity would rise by nearly 193 MTPA between 2024 and 2028, rising from approximately 474 MTPA of nameplate capacity at the beginning of this year to 666.5 MTPA by the end of 2028. Based on its stated policy scenario, the IEA also anticipates that global LNG trade will reach 482 MTPA by 2050.
Form measurement machine market is estimated to be valued at $6.5 billion in 2024 and is estimated to reach $14.8 billion in 2035, exhibiting a CAGR of 7.8% during the forecast period (2025-2035). The demand for precise measurement tools is increasing in the automotive, aerospace, and electronics sectors, driven by automation inspection, and quality control. Digital technologies such as AI, machine learning, and IoT increase efficiency and accuracy. Emerging markets and strict regulations are driving industry growth.
Wafer grinder market is projected to reach $1,235 million in 2035, from $710 million in 2024, witnessing a CAGR of 5.9% during the forecast period (2025-2035). The demand for compact, high-performance electronics, such as smartphones and IoT devices, necessitates thinner semiconductor wafers. Advancements in semiconductor technology and advanced wafer grinding technologies are essential for meeting the standards. The growth of 5G and IoT applications, expansion in automotive and aerospace industries, and a growing focus on sustainability and energy efficiency are additionally driving the demand for precision wafer grinding solutions. Wafer grinders that support eco-friendly production are gaining traction.
Indian motorcycle-sharing service market was valued at $72 million in 2024 and is anticipated to grow at a CAGR of 9.5% during the forecast period (2025-2035). Rapid urbanization in the country led to heavy traffic congestion, and two-wheeler-sharing services must be used for efficient travel. The services are economical alternatives to traditional modes and bridge a gap in public transportation networks. Technological advancement, environmental concerns, and huge investments in two-wheeler-sharing startups have facilitated market expansions and service improvements that attract more users.
Surface measuring instrument market size was $1.4 billion in 2024 and is projected to reach $4.0 billion in 2035, witnessing a CAGR of 10.3% during the forecast period (2025-2035). Increased demand for precision-engineered products in the aerospace and automotive industries, high regulatory standards for medical devices and electronics, industrial automation, and surface metrology advancement drive the surface metrology market. Increased growth in the manufacturing and electronics industries, customization, modular designs, rapid industrialization in emerging economies, and research into nanotechnology applications are driving the adoption of the market.
Electric outboard engine market size was valued at $154 million and is anticipated to grow at a CAGR of 6.2% during the forecast period (2025-2035). Electric outboard engines are in high demand owing to the growing number of eco-friendly marine solutions being promoted by governments across the globe. Improvements in battery technology, increasing fuel prices, and recreational boating made electric engines more affordable.
AI accelerator market is anticipated to reach $395.2 billion in 2035 from $23.6 billion in 2024, growing at a CAGR of 29.4% during the forecast period (2025-2035). The demand for AI and machine learning is growing in healthcare, finance, automotive, and retail industries. Large datasets necessitate AI accelerators since more sophisticated models demand AI evolution and specific hardware for quick executions. Major cloud service providers such as Amazon, Microsoft, and Google are integrating AI accelerators into cloud computing and edge computing to meet real-time processing demands. Government initiatives, in addition to direct investment, are accelerating AI development, driving the demand for AI accelerators. Several cloud service providers, including AWS, Microsoft Azure, Google Cloud, and more, are providing acceleration services for AI workloads that will help increase performance.
3D coordinate measuring machine (CMM) market was valued at $3.7 billion in 2024 and is anticipated to grow at a CAGR of 8.8% during the forecast period (2025-2035). The growth in the global CMM market is mainly attributed to increased manufacturing process developments, precision engineering and quality control demands, innovations in technology, expansion in the end-user industry, and portability in CMMs. This in turn facilitates using the CMM for precise measurements in quality assurance inspection and in the production lines on real-time measurement to assure conformation and reliability in the product.
Power substation market was value at $124.5 billion and is anticipated to grow at a significant CAGR of 4.1% during the forecast period (2025-2035). The deployment and upgradation of power substations are extensively contributing to the growth of market players offering hardware, software, and servicing for diverse power substation needs. The increase in the deployment of power substations is majorly owing to growing global energy demand, investments in developing resilient energy infrastructure and transitions towards renewable energy alternatives by major countries. Further, the market has recorded several developments within the power substation domain, such as rising demand for digital substations and integration of smart monitoring & control systems that align the power substation market with global energy infrastructure and demand goals.
Logistics automation market is anticipated to grow at a CAGR of 12.9% during the forecast period (2025-2035) with total revenue projected to increase from $32.9 billion in 2024 to $124.33 billion in 2035. In recent years, automation has been a key enabler across diverse industries, including logistics, which is majorly owing to rapidly expanding e-commerce and retail quick commerce sectors, increasing global obstacles relating to labor availability and maintenance, and a growing industrial shift towards adopting automation technologies in complex and unsafe logistical activities. Relatively, the overall logistics industry is additionally experiencing several developments, such as the incorporation of autonomous robots and drone-based solutions and investments in advanced and smart manufacturing hubs, showcasing the growing prominence of the deployment and development of logistical infrastructure with automated solutions.
Juvenile idiopathic arthritis treatment market was valued at $3.0 billion in 2023 and is projected to reach $5.8 billion by 2035, growing at a CAGR of 6.1% during the forecast period (2025-2035). The JIA therapeutic industry growth is driven by the high prevalence of juvenile idiopathic arthritis, the growing adoption of innovative drug delivery technologies, and the growing integration of clinical trials with pediatric rheumatology research with a rising emphasis on customized care. According to the Arthritis Foundation, 3 million children and young adults are estimated to be affected by Juvenile idiopathic arthritis, the most prevalent type of pediatric rheumatic disease.
Traction transformer market was valued at $815 million in 2024 and is projected to grow at a CAGR of 4.4% to reach $1.3 billion by 2035. The expansion of high-speed rail networks and the increasing integration of power transmission and distribution networks in both urban and rural areas, along with the growing need for traction transformers, are the main factors propelling the market's expansion. According to the International Energy Agency (IEA), in July 2023, India is investing in a road-to-rail shift and is rapidly moving towards its target of 100.0% rail track electrification by 2024, with the share of electrified tracks increasing from 45.0% in 2015 to 80.0% in 2022.
Silicon carbide fibers market was valued at $825 million in 2024 and is projected to reach $7 billion by 2035, growing at a CAGR of 28.1% from 2025 to 2035. The SiC fiber industry growth is driven by the increasing SiC fiber application in the semiconductor, aerospace, and energy industries. Considering its exceptional qualities, which include high stiffness, significant tensile strength, exceptional chemical resistance, and little thermal expansion under harsh conditions, SiC fibers are ideal for the packaging of SiC sensors and electronics. In February 2024, the US Department of Energy’s (DOE) Office of Electricity (OE) launched the American-Made Silicon Carbide (SiC) Packaging Prize. This $2.25 million contest invites competitors to propose, design, build, and test state-of-the-art SiC semiconductor packaging prototypes to enable these devices to work more effectively in high-voltage environments such as energy storage.
Semiconductor wafer polishing and grinding equipment market is anticipated to grow at a CAGR of 10.2% during the forecast period (2025-2035). Pivotal factors such as rising industrial sectors for consumer electronics, telecom, and auto, and increasing production of more compact stronger, and less energy-consuming semiconductors demand ultra-thin and faultless wafers. Further, the expansion and deployment of 5G communications and expansion and proliferation of the Internet of Things (IoT) with greater performing semiconductors and emerging advanced package structures such as 3D-ICs, and system-in-package SiP, among others also contribute to industry growth.
Medical scheduling software market is anticipated to grow at a CAGR of 10.2% during the forecast period (2025-2035). The primary drivers of market expansion include the increasing need for software to effectively manage and improve workflow and the growing acceptance of patient-centric approaches. Online appointment scheduling, prompt reminders, and direct contact with healthcare practitioners are all provided via patient-centric scheduling solutions. This lessens the administrative load on healthcare institutions and improves the patient’s experience.
Power inverter market is anticipated to grow at a CAGR of 6.7% during the forecast period (2025-2035). Power inverters are gaining traction across diverse sectors from automotive, energy, and IT to manufacturing backed by growing demand for a consistent & reliable power supply, especially in energy-intensive segments. Further, increasing the use of automotive & industrial automation for enhancing utility & energy consumption of the respective devices also contributes to industry growth. However, the market faces considerable friction from supply chain difficulties, which is expected to impact market growth in the short term.
Memory chip market is anticipated to grow at a CAGR of 5.9% during the forecast period (2025-2035). The global digitization initiatives and rapid deployment of data-intensive devices are enabling the memory chip market to expand across the globe. The market players in the memory chip market, including Samsung, Micron, and Patriot Memory, are continuously innovating and developing novel memory solutions for next-generation utility, such as for AI workstations and autonomous driving, which is expected to make the memory chip market innovations relevant for the future. For instance, in June 2024, Micron Technology, Inc. announced samples of its GDDR7, the industry's highest bit-density graphics memory solution. Micron GDDR7 delivers up to 32 Gb/s of high-speed memory in an optimized power form, based on Micron's 1? DRAM process technology and next-generation architecture.
Material informatics market is anticipated to grow at a CAGR of 8.9% during the forecast period (2025-2035). The market is driven by the increasing need for innovative materials to reduce design and manufacturing costs, time, and associated risks in the manufacturing ecosystem, as well as the growing demand for material informatics in R&D activities across a variety of fields, including manufacturing for innovative material development, materials science, and chemical & pharmaceutical.
Industrial microscope market is anticipated to grow at a CAGR of 6.0% during the forecast period (2025-2035). Advancements in imaging and analytical technologies have enabled the development of microscopy for widespread applications in semiconductor production and life sciences. Healthcare, biomedical research, drug development, and clinical diagnostics depend on high-resolution imaging and accurate data interpretation. Microscopy is a very important part of manufacturing for detecting defects in components and ensuring quality.
Formic acid market is anticipated to grow at a CAGR of 3.7% during the forecast period (2025-2035). The market is driven by demand for formic acid in a variety of industries such as agriculture, leather, textiles, and chemicals. Its use as a preservative and antibacterial agent in animal feed is significant. Formic acid is also growing popular in the pharmaceutical sector and as a reducing agent in other chemical processes.
Bone densitometer market is anticipated to grow at a CAGR of 4.4% during the forecast period (2025-2035). The increasing prevalence of osteoporosis and osteopenia globally, coupled with a growing geriatric population, is a key demand driver for bone densitometry. Increased healthcare spending combined with technological advancement, awareness programs, and promotion have made it more accessible. In emerging markets, increased healthcare expenditure has driven better diagnostics infrastructure and adoption of advanced equipment. Preventive care is additionally driving routine BMD testing. Sports-related injuries and lifestyle diseases are on the increase, with broader clinical utilization of bone densitometry for conditions such as rheumatoid arthritis, chronic kidney disease, and obesity-related bone disorders.
Battery energy storage system (BESS) market is anticipated to grow at a CAGR of 20.1% during the forecast period (2025-2035). The demand for BESS is increasing due to renewable energy adoption, grid modernization, and rising cost efficiency. BESS balances energy supply and demand, stabilizes the grid, and improves resilience. Technological advancements make it competitive and useful for off-grid and remote power solutions.
3D metrology market is anticipated
to grow at a CAGR of 9.2% during the forecast period (2025-2035). 3D metrology solutions
is gaining popularity in the automotive and aerospace industries, backed by increasing
demand for quality control in manufacturing. Integration with automation, AI,
and cloud-based platforms enhances efficiency and reduces production time. Last
year, with the release of the new ZEISS INSPECT 3D metrology software, ZEISS offered
its Industrial Quality Solutions customers numerous new functions to address their
daily metrological challenges. ZEISS INSPECT Optical 3D is the solution for
the inspection and evaluation of 3D measurement data. ZEISS INSPECT has
accelerated data acquisition and evaluation functions.
Alkylamines market is anticipated to grow at a CAGR of 6.9% during the forecast period (2024-2031). Alkylamines are utilized in many businesses, such as agrochemicals, pharmaceuticals, water treatment, rubber processing additives, personal care, industrial and chemical applications, and other end-user industries. There is an increasing need to ensure increased agricultural output as the demand for food increases globally. Alkylamines are vital ingredients in the manufacturing of insecticides and herbicides, therefore they play an essential role in this. Alkylamines contribute to improved yields and more productive farming by shielding crops from diseases, weeds, and pests. Regional trends include Asia-Pacific with its rapid industrialization, and North America and Europe, which have the highest demand.
AI Infrastructure market is anticipated to grow at a CAGR of 29.8% during the forecast period (2024-2031). AI Infrastructure refers to the integration of hardware, software, and network resources required to develop, deploy, train, and manage AI models. Increasing demand for high-performance computing power for processing large datasets in AI training and inference, cloud-based AI platforms, and the increasing adoption of AI solutions in healthcare, manufacturing, and financial sectors are factors propelling the growth of the market. Deploying machine learning (ML) models can transform client experiences by delivering personalized, timely, and relevant interactions. Companies utilize AI platforms for such deployments.
CAM software market is anticipated to grow at a significant CAGR of 7.7% during the forecast period (2024-2031). The expansion of the CAM (computer-aided manufacturing) software market is supported by pivotal factors such as the global industrial transition into industry 4.0 & smart manufacturing, and advancement in manufacturing capabilities such as incorporating 3D printing in manufacturing workflow. Moreover, the rise in hybrid manufacturing techniques and the development & integration of advanced technologies such as artificial intelligence (AI), augmented reality/virtual reality (AR/VR), and the internet of things (IoT) into CAM software is also fueling the market growth.
Printed & flexible sensors market is anticipated to grow at a CAGR of 9.7% during the forecast period (2024-2031). The market for printed and flexible sensors is expected to increase owing to the increasing need for flexible sensors in sophisticated driver assistance systems and the expanding use of printed sensors in smartphones, tablets, and gaming devices that can be customized for various functions. According to Photonics21, in 2024, $8 billion was spent on sensors for cameras and liars used in advanced driver assistance systems.
Distribution transformer market is anticipated to grow at a CAGR of 10.7% during the forecast period (2024-2031). The rising use of renewable energy sources, the need for advanced transformers for wind, solar, and hydropower technologies, policies that encourage rural electrification and the integration of renewable energy sources, and the expansion of power transmission and distribution networks is driving the market's growth. According to the International Energy Agency (IEA), 2024, energy consumption grew by 2.2% in 2024 globally, slower than the 2.4% growth observed in 2022. In 2023, China, India, and many countries in Southeast Asia experienced a sharp increase in demand for power.
Photovoltaic switch market is anticipated to grow at a CAGR of 7.8% during the forecast period (2024-2031). Technological improvements in photovoltaic switches that lower the cost of installing solar panels and increased government incentives and policies that encourage solar energy are driving the global expansion of the photovoltaic switch market. According to the International Energy Agency (IEA), in July 2023, solar PV generation increased by a record 270TWh (up 26.0%) in 2022, reaching almost 1300TWh. China continues to lead in terms of solar PV capacity additions, with 100 GW added in 2022, almost 60.0% more than in 2021.
Micro mobile data center market is anticipated to grow at a significant CAGR of 11.2% during the forecast period (2024-2031). The increasing demand for improved data security and compliance, the rising use of cloud services, the development of 5G network deployments, and the growing demand for IT infrastructure in remote locations are all factors contributing to the market's growth. According to the International Energy Agency (IEA), in October 2024, the entire US oil and gas market, which accounts for around 0.5% of the US GDP, was less than the capital investment made by Google, Microsoft, and Amazon, players in the adoption of AI and the construction of data centers in 2023.
Autonomous enterprise market is anticipated to grow at a significant CAGR of 12.6% during the forecast period (2024-2031). The market for autonomous enterprise is expanding extensively owing to factors such as increasing acceptance of autonomous IT structure, accelerating advancements in artificial intelligence (AI) and machine learning (ML) with expanding edge computing and cloud computing solutions. According to the International Trade Administration (ITA), by 2030, artificial intelligence will boost the global economy by $15 trillion. From an estimated $157 billion in 2020 to an estimated $300 billion in 2024, the global AI market is anticipated to rise.
Automatic transfer switch (ATS) controller market is anticipated to grow at a CAGR of 10.6% during the forecast period (2024-2031). The market expansion of ATS controllers is supported by pivotal factors such as increasing integration of automated transfer switches across the energy infrastructure, advancement in smart grid technology, increasing investments in developing backup power stations, and expansion in industrial automation. Further, the shift towards the incorporation of energy-efficient devices, and the development of modular & technologically advanced ATS controllers is also contributing to the growth of the market.
Wire stripping and twisting machine market is anticipated to grow at a significant CAGR of 11.4% during the forecast period (2024-2031) driven by increasing demand for automation in manufacturing processes, advancements in wire processing technologies, cost-efficiency and precision offered by modern wire stripping machines, and growth in the consumer electronics and electrical equipment industry.
Digital manifold gauges market is anticipated to grow at a significant CAGR of 10.8% during the forecast period (2024-2031). The industry growth is attributed to the rising demand for precision measurement tools, increasing applications in automotive, the surge in refrigeration and air conditioning markets, the emergence of IoT integration in measurement tools, and the growing emphasis on energy efficiency.
Passenger cars maintenance, repair, and overhaul (MRO) market is anticipated to grow at a significant CAGR of 14.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as an expansion of aftermarket services and products, e-commerce growth in auto parts and services, rising consumer awareness of vehicle safety and reliability, growing demand for enhanced vehicle performance, and a shift toward electric and hybrid vehicles. According to the Australasian Fleet Management Association (AfMA), in July 2024, Global electric vehicle (EV) sales reached 14.1 million units, with battery electric vehicles (BEVs) accounting for 70.0% and plug-in hybrid electric vehicles (PHEVs) for 30.0%.
Artificial intelligence (AI) in oil & gas market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the rising investments in AI technologies, operational efficiency, and cost reduction, data analytics and decision-making, and increased adoption of AI-powered robotics. According to the International Trade Administration, in 2021, AI global funding doubled to $66.8 billion, and a record 65 AI companies reached $1B+ valuations, up 442.0% from the previous year. Each year, more and more companies and governments worldwide adopt AI solutions.
Super Speed USB controller market is anticipated to grow at a significant CAGR of 13.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the global expansion of cloud computing and data centers, the emergence of 5G technology and enhanced connectivity, support for multiple device connectivity and power delivery, surge in gaming and high-performance computing. According to the International Energy Agency, in July 2023, globally, data transmission networks consumed 260-360 TWh in 2022, or 1-1.5% of global electricity use.
Fault passage indicators (FPIs) market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for quick response and restoration of power networks, regulatory push for grid modernization and energy efficiency, growing focus on reducing power outages and system downtime, and rising awareness about reducing maintenance costs for utilities. According to the International Energy Agency, in July 2024, Global electricity demand is forecast to grow by around 4.0% in 2024, up from 2.5% in 2023
Remote terminal units (RTUs) market is anticipated to grow at a significant CAGR of 11.8% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as government initiatives for renewable energy integration, increased utilization in oil & gas, water & wastewater management sectors, the demand for real-time data monitoring and control systems, and increased focus on energy management and smart grids. According to the Global Smart Energy Federation (GSEF), the global smart grid market was at $100.3 billion in 2022 and is growing to approx. $185.6 billion by 2032.
Relays market is anticipated to grow at a significant CAGR of 5.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for automation in industrial processes, growth in renewable energy projects and grid modernization, expansion of smart home and IoT applications, and surge in power infrastructure development. According to the Global Smart Energy Federation (GSEF), the global smart grid market was at $100.3 billion in 2022 and is growing to approx $185.6 billion by 2032.
Home textile market is anticipated to reach $195 billion by 2031 and is growing at a significant CAGR of 5.6% during the forecast period (2024-2031). A key driver of this growth is the increasing focus on personalized living spaces. With rising disposable incomes, homeowners are investing in high-quality home textiles to create environments that reflect their style while providing comfort and functionality. This trend extends beyond mere aesthetics, encompassing eco-friendly and technologically advanced textiles that align with broader societal shifts toward sustainability and innovation.
Immersion cooling market is anticipated to grow at a significant CAGR of 24.1% during the forecast period (2024-2031). Immersion cooling has grown more and more popular since it is scalable, sustainable, and energy-efficient. It satisfies environmental requirements, lowers energy consumption, and meets the objectives of high-density computing. The demand for small, effective cooling solutions is driven by increasing markets and technological developments, ensuring a sustainable and effective cooling system.
Trifluridine API market is anticipated to grow at a considerable CAGR of 8.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors increasing rates of Herpes Simplex Virus (HSV) infection, rising antiviral drug demand, and developments in drug delivery technology. Millions of people globally are affected by herpetic keratitis and other HSV infections every year. Trifluridine and other antiviral medications are used to treat HSV infections. Moreover, the need for drugs such as trifluridine API is being driven by the growing awareness of eye health and the accessibility of efficient treatments. According to the World Health Organization (WHO), in April 2023, an estimated 3.7 billion people under age 50 (67.0%) globally had HSV type 1 (HSV-1) infection, the main cause of oral herpes.
Robotic wheelchairs market is anticipated to grow at a significant CAGR of 9.6% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as the growing aging population probable to have immobility problems, an increasing number of cases of obesity, neurological diseases, paralysis, strokes, and knee injuries which drive the growth of the market. According to the National Center for Biotechnology Information, in January 2022, there are over 100 million people who need or use wheelchairs globally. 66.5% of individuals with disabilities ranked self-driving or Robotic Wheelchairs (RWs).
Portable screening tympanometer market is anticipated to grow at a CAGR of 6.1% during the forecast period (2024-2031). The market growth is attributed to the growing prevalence of portable screening tympanometers, owing to their portability, simplicity of use, and applicability for screening in a range of healthcare settings. On the other hand, tabletop models are favored in clinical settings where thorough examinations and diagnosis are necessary. Additionally, increasing hearing loss cases globally drives the growth of the market. According to the World Health Organization (WHO), in February 2024, by 2050, nearly 2.5 billion people are projected to have some degree of hearing loss, and at least 700 million require hearing rehabilitation.
Outbound medical tourism services market is anticipated to grow at a CAGR of 13.6% during the forecast period (2024-2031). Outbound medical tourism involves traveling from one's native country to another country for medical treatment. This sector broadly includes two services, namely, traveling services and treatment services. The market for outbound medical tourism services is projected to grow significantly owing to factors such as increasing trends for international treatments, preference for low-cost treatments in non-native countries, and the growth of medical tourism facilitators. These trends are supported by the easing of regulatory barriers in international treatments, improved global connectivity, and increasing awareness of the diverse options available internationally.
Opioid-Induced Constipation (OIC) treatment market is anticipated to grow at a significant CAGR of 9.3% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as enhancing financing for R&D allows for the investigation of targeted treatments intended to tackle the difficulties associated with opioid-induced constipation. Precision medicine and medicines that specifically address the underlying causes of constipation are gaining ground and improving treatment success. According to the National Center for Biotechnology Information (NCBI), in April 2024, globally, in international studies, the prevalence of OIC ranges from 8.9% to 81.0%. The prevalence of OIC increases with the prolonged duration of opioid use.
Next-generation biomanufacturing market is anticipated to grow at a CAGR of 10.4% during the forecast period (2024-2031). Next-generation biomanufacturing involves an advanced approach to producing biological products, including pharmaceuticals, biofuels, and other biotechnological products, leveraging cutting-edge technologies and innovation. Further, the market is expected to experience significant growth in the future attributed to the growing demand for biopharmaceuticals, a supportive regulatory environment for industry development, and the growing integration of AI (Artificial Intelligence), ML (Machine Learning), and digital technologies.
Molded foam component market is anticipated to grow at a significant CAGR of 8.2% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the packaging industry utilizing molded foam components for protective packaging solutions and increasing demand for molded foam components in the bedding and furniture industry. The automotive industry is a significant end-user of polyurethane foam, accounting for over 30.0% of the market share.
Microelectronics packaging market is anticipated to grow at a CAGR of 7.6% during the forecast period (2024-2031). Microelectronics packaging involves encasing and protecting microelectronic components such as Integrated Circuits (ICs) and semiconductors from external damage to ensure their smooth functionality and durability in various applications. It encompasses a range of packaging technologies, including Chip-On-Board (COB), Ball Grid Array (BGA), and flip-chip, which are essential for devices such as smartphones, computers, and automotive electronics.
Expanded polypropylene packaging market is anticipated to grow at a significant CAGR of 7.9% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as growing automotive and consumer electronics sectors globally and increasing demand for robust and lightweight packaging solutions. According to the World Integrated Trade Solution, in 2021, the top exporters of polypropylene, in primary forms are Saudi Arabia ($6,827 million), Korea, Rep. ($2,824 million, 2,040,690,000 Kg), US ($2,070 million, 917,173,000 Kg), Germany ($2,025 million, 1,123,410,000 Kg), China ($1,856 million, 1,267,280,000 Kg).
DNA methylation detection technology market is anticipated to grow at a significant CAGR of 10.3% during the forecast period (2024-2031). The market growth is attributed to increasing emerging startups in the biotechnology and pharmaceutical industries, growing partnerships between academic institutions, and growing use of DNA methylation detection technology as epigenetic biomarkers with an increasing range of tools, software, and consumables. According to the National Center for Biotechnology Information (NCBI), in September 2023, an individual’s diet and lifestyle significantly influence cancer etiology. Studies suggest that dietary habits may contribute to over 30.0% of cancer-related mortalities in the US.
Caustic soda market is anticipated to grow at a significant CAGR of 12.3% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as increasing demand for caustic soda in industrial applications owing to its strong alkaline nature. It is integral to the manufacture of petroleum products, pulp and paper, alumina, textiles, soaps, and detergents, along with its application in chemical processing, water treatment, and petroleum processing. According to the Department of Health, around 56.0% of sodium hydroxide produced is used by industry, with 25.0% of NaOH used in the paper industry.
Cathode material market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The cathode material market is crucial for producing high-performance batteries used in electric vehicles, consumer electronics, and energy storage systems. It is expected to experience significant growth owing to the increasing demand for Electric Vehicles (EVs), advancements in battery technology, and government incentives to promote renewable energy and greener technologies. Further, the current market trends include a shift towards high-energy-density cathodes, and the development of alternative cathode materials is expected to influence the market demand.
Car recycling and dismantling market is anticipated to grow at a significant CAGR of 12.1% during the forecast period (2024-2031). The market growth is attributed to increasing economic and environmental benefits in recovering materials from End-Of-Life Vehicles (ELVs), and remanufacturing of Waste Steel Sheets (WSS) from ELVs into useful Mesh Steel Sheets (MSS) for metal forming applications drive the growth of the market. According to the World Steel Association AISBL, the average recycling rate for steel and iron in cars is about 90.0%. Each year, the steel industry recycles more than 14 million tons of steel from ELVs. This is equivalent to nearly 13.5 million automobiles. When comparing the amount of steel recycled from automobiles each year to the amount of steel used to produce new automobiles that same year, automobiles maintain a recycling rate of nearly 100.0%. By weight, the typical passenger car consists of about 65.0% steel and iron.
Caprolactone market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand in biomedical applications, especially for drug delivery, tissue engineering, drug carriers, and scaffolding for repairing tissue, and the growing adoption of sustainable and bio-based materials driving the growth of the market. According to the National Center for Biotechnology Information (NCBI), in August 2022, the global polymer market was valued at $522.7 billion in 2017, and a 4.0% annual increase is expected over 2019–2025.
Automotive Brake-By-Wire (BBW) system market is anticipated to grow at a significant CAGR of 11.9% during the forecast period (2024-2031). The industry growth is attributed to pivotal factors such as increased awareness of vehicle safety, expanding use of BBW systems in modern cars, component downsizing, and laws requiring the integration of advanced safety systems. Automotive BBW systems complement the region's focus on safety regulations by providing improved braking performance, stability, and control. Additionally, the demand for Automotive BBW systems is being driven by the increasing uptake of electric cars (EVs) globally. According to the International Energy Agency (IEA), electric car sales in 2023 were 3.5 million higher than in 2022, a 35.0% year-on-year increase.
Ash handling systems market is anticipated to grow at a CAGR of 4.3% during the forecast period (2024-2031). Ash handling systems are specialized setups designed to manage the removal, transport, and disposal of ash generated during the combustion of fossil fuels, such as coal, oil, or natural gas, in power plants and industrial facilities. The market growth is driven by an increase in power generation from fossil fuels, supportive government regulation and policies for ash disposal and reuse, a rising focus on sustainability and recycling by high-emission industries, and advancements in ash processing technologies.
3D laser cutting robots market is anticipated to grow at a CAGR of 12.2% during the forecast period (2024-2031). 3D laser cutting robots are advanced automated systems that utilize high-powered lasers to cut and shape materials with precise control in three dimensions. Unlike traditional 2D laser cutting, which operates on a flat surface, 3D laser cutting robots can move in three axes (X, Y, and Z). The market is projected to grow significantly owing to the increasing adoption of automated industrial robots, growing demand for high-precision cutting robots, and the expanding application of 3D laser cutting robots. Further, the market is expected to be influenced by a growing emphasis on Industry 4.0, the development of collaborative robots, and extensions in material handling capabilities.
Thermal cyclers market is anticipated to grow at a significant CAGR of 10.9% during the forecast period (2024-2031). The market growth is attributed to the increasing progress in the field of genomics research. Thermal cyclers are critical to many industries, such as pharmaceuticals, forensic science, research labs, and medical diagnostics. Their ability to quickly and accurately amplify DNA makes them indispensable for tasks such as pathogen detection, gene expression analysis, and genetic issue detection.
Lidocaine vial market is anticipated to grow at a significant CAGR of 9.1% during the forecast period (2024-2031). The market growth is attributed to the increasing demand for lidocaine injections, driven by an increasing number of dental chronic pain concerns. The global increase in surgical procedures and trauma cases is fueling the market's expansion. The development of innovative formulations and improvements in drug delivery technology are driving market growth. These developments are broadening the range of medical diseases for which lidocaine injections can be used by increasing both its safety and efficacy. According to the National Center for Biotechnology Information (NCBI), in April 2021, in the US and the UK, lidocaine was the most frequently purchased or used dental local anesthetic.
Social and emotional learning (SEL) market is anticipated to grow at a CAGR of 23.6% during the forecast period (2024-2031). The expansion of the SEL market can be attributed to various factors. These include the increasing emphasis on education, growing awareness of mental health, support from policies, validation through research, integration of technology, engagement from corporations and communities, and demand from parents. These factors contribute to the rising demand for SEL programs, that aim to develop social-emotional skills for academic achievement and overall student well-being, leading to widespread adoption in schools. As a result, the market is fostering the holistic development of students and nurturing the essential skills needed for success.
Wireless cardiac monitoring systems market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). The increasing prevalence of cardiovascular diseases, advancements in technology, the adoption of remote patient monitoring, and a shift towards telemedicine are the major factors driving the global wireless cardiac monitoring systems. Additionally, government initiatives, the integration of wearable health technologies, and the expansion of home healthcare services have contributed to the rising demand for wireless monitoring systems for managing cardiac conditions remotely.
Mobile satellite services market is anticipated to grow at a CAGR of 6.9% during the forecast period (2024-2031). The global connectivity demand is fueled by remote areas' need for reliable communication, universal service obligations, and IoT and M2M applications. Satellite services provide essential connectivity, real-time monitoring, and disaster recovery. Technological advancements such as high-throughput satellites and low-earth orbit satellites enhance service quality. Regulatory support, strategic partnerships, and private sector investment accelerate market growth.
Fertility tourism market is anticipated to grow at a CAGR of 12.6% during the forecast period (2024-2031). The global fertility tourism market is expanding owing to several factors, including cost efficiency, advanced medical technology, favorable regulatory environments, cultural compatibility, and accessibility. Patients from around the world are choosing countries such as India, Thailand, and Spain for affordable fertility treatments, while others seek well-established clinics with advanced technologies. Shorter waiting times and increased accessibility to clinics and specialists are highly valued by patients seeking timely treatment, and considerations for privacy and confidentiality are also considered.
Automotive testing, inspection, and certification (TIC) market is anticipated to grow at a CAGR of 4.6% during the forecast period (2024-2031). Automotive TIC comprises a three-stage process of testing, inspecting, and certifying automobiles as per regulatory requirements, safety protocols, and quality standards. The growth of the market is driven by the increasing number of automobiles and stringent regulatory regulations for road safety. The advancements in automotive testing technology, the rise in alternative automotive such as electric vehicles (EVs) and hybrid vehicles (HEVs), and growing concerns for manufacturers on vehicle re-call and aftermarket servicing are further aiding the global market growth.