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Transportation Management System Market Growth & Trends

The global transportation management system market size is estimated to reach USD 41.57 billion by 2030, growing at a CAGR of 17.4% from 2024 to 2030, according to a recent report by Grand View Research, Inc. The growth of the transportation management system (TMS) market can be attributed to the rising emphasis of businesses on automating supply chain & logistics processes by utilizing the latest technologies and continuous development in the e-commerce and retail industries. Further, the growing need for greater visibility in the operational and supply chain process by applying automated products coupled with the growing emphasis on data-driven technologies in the logistics industry is expected to offer significant opportunities for the stakeholders in the market during the forecasted period.

The logistics and supply chain industry has evolved significantly in recent years, corresponding to the application of advanced technological solutions. The rising application of data-driven software, connected devices, and cloud-based solutions for various applications has elevated the companies' emphasis on the adoption of advanced software, including TMS. Further, tracking shipments in real-time, increased visibility, and timely delivery services to provide satisfactory customer experience are encouraging companies to opt for TMS solutions. These are the key contributing factors expected to drive the growth of the global TMS market.

For instance, in November 2022, MercuryGate International, Inc. announced that it is expanding its real-time shipment visibility capabilities to include every stage of the shipment lifecycle. As such, the company's customers would now have the distinct advantage of being able to track maritime shipments in real-time, act quickly to address problems, and constantly improve by making enhanced decisions, thereby extending MercuryGate's end-to-end modality management.

Timely delivery, owing to the tracking facility and reduced in-transit time, is a key feature that is particularly in demand. Thus, TMS vendors are increasingly trying to provide these features through their innovative solutions, thereby bridging the gap between order management and warehouse fulfillment. As a result, with the rise in the latest innovations and product development that meet the challenges posed by the growth of the e-commerce industry, the market is growing considerably throughout the forecast period.

Key companies are expanding their geographic footprint by selling their goods across the globe. The supply chain is growing and getting more complicated as a result, thereby necessitating the deployment of an efficient transportation management system. The bilateral trade relations between various nations have also triggered the demand for transportation management systems.

For instance, the bilateral relations between the U.S. and Japan have opened substantial opportunities for trade and investment. Japan is a major market for several goods and services originating in the U.S. A reliable transportation management system capable of offering better visibility, control, and inventory management is of paramount importance to support the growing trade activities between the two countries. Thus, the following factors are expected to strengthen the TMS market growth during the forecast period.

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Transportation Management System Market Report Highlights

• The reporting & analytics segment is expected to register a CAGR of 19.3% from 2024 to 2030. Reporting & analytics are among the key components of TMS solutions as they offer businesses valuable and informed insights. By applying data and utilizing analytics, companies can analyze various business performances, identify key improvement areas, and make informed decisions to optimize their supply chain and transportation operations. These are among the key factors expected to drive the growth of the reporting & analytics segment growth in the TMS market.
• The cloud segment is anticipated to grow at a CAGR of 18.4% from 2024 to 2030. Cloud-based TMS solutions offer businesses greater scalability, flexibility, and accessibility, which are crucial factors in meeting the dynamic demands of modern supply chains. This enhanced flexibility allows businesses to adapt to the evolving market conditions and scale their transportation operations more efficiently.
• The railways segment is expected to grow more than 18% of CAGR from 2024 to 2030. The growing government support and grants for the upgradation of railways through the Public Private Partnership (PPP) is aimed at driving the growth of TMS in the railways segment.
• The retail & e-commerce segment is anticipated to grow at a CAGR of 18.8% from 2024 to 2030. The growth of the segment can be attributed to the growing retail industries in countries such as the U.S., China, and others. China accounts for nearly 80% of online sales in the APAC region. In contrast, India is expected to become the world’s fastest-growing e-commerce market, propelled by robust investment in this sector and higher smartphone penetration. Thus, these are the key factors expected to drive the segment growth in the TMS market.
• The Asia Pacific segment is expected to grow more than 19% of CAGR from 2024 to 2030. The rising industrial base, growing transportation and logistics activities, and significant government initiatives, including digitization, 5G, and smart supply chain process, are the key factors expected to drive the demand for the market in the region.

Transportation Management System Market Segmentation

Grand View Research has segmented the global transportation management system market based on solution, deployment, mode of transportation, end user, and region:

Transportation Management System (TMS) Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Operational Planning
• Freight & Order Management
• Payment & Claims Management
• Monitoring & Tracking
• Reporting & Analytics
• Others

Transportation Management System (TMS) Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• On-premise
• Cloud

Transportation Management System (TMS) Mode Of Transportation Outlook (Revenue, USD Billion, 2018 - 2030)

• Roadways
• Railways
• Waterways
• Airways

Transportation Management System (TMS) End User Outlook (Revenue, USD Billion, 2018 - 2030)

• Retail & Ecommerce
• Manufacturing
• Logistics
• Government Organizations
• Others

Transportation Management System (TMS) Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players in the Transportation Management System Market

• BluJay Solutions Ltd.
• Cargobase
• Cerasis, Inc.
• GoComet
• 3GTMS
• Infor Inc.
• IBM Corporation
• JDA Software Group, Inc.
• Manhattan Associates
• MercuryGate International, Inc.
• Oracle Corporation
• SAP SE
• The Descartes System Group Inc. 
• Trimble Transportation Enterprise Solutions, Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/transportation-management-systems-market

Continuous Glucose Monitoring Devices Market Growth & Trends

The global continuous glucose monitoring devices market size is anticipated to reach USD 7.51 billion by 2030 and it is projected to grow at a CAGR of 7.19% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing cases of diabetes and introduction of novel and advanced diabetes care and management devices are the major factors driving the market growth. Continuous glucose monitoring (CGM) devices provide an efficient method to measure body glucose levels in real time. Data recorded by these devices is transmitted through a wireless network to receivers; this helps keep track of glucose levels over a designated period.

With the advent of digital therapeutics, a rising number of continuous glucose monitoring devices are being incorporated with apps and software to help patients with diabetes mellitus. Apps such as Glucose buddy, Diabetes Connect, MySugar, and others are available under paid subscription. Further, the rise in the number of diabetes mellitus has contributed significantly toward the global market growth. The device allows real time biofeedback and behavioral change support, allowing effective management of diabetes by the patient. Additionally, the government is spending a huge amount on diabetic care tools to closely monitor diabetes in patient. For instance, according to American Diabetes Association, the overall cost of diagnosed diabetes in the United States for the year 2022 is estimated to be USD 412.9 billion. This amount encompasses direct medical costs of USD 306.6 billion and indirect costs of USD 106.3 billion associated with diabetes.

Diabetes management demands intensive efforts to maintain normal glucose levels and reduce complications, decrease healthcare expenditures, & prevent premature death. This involves monitoring blood sugar levels, taking insulin, following a proper diet, and regular exercising. However, the current sensor technology used to monitor glucose levels only works with a “one-size-fits-all” approach, which does not cater to the special needs of subpopulations such as senior citizens, ethnic minorities, children, adolescents, and people with limited resources. To rectify this, future diabetes technology must be adaptable to diverse users. The ideal devices should be customizable, user-friendly, and affordable. These devices can also be combined with behavioral interventions to promote patient- & family-centered care and provide decision-support tools for clinicians. Although there have been significant advancements in CGM technology, its widespread use is still limited by biological, pharmacological, and socioeconomic factors. Aforementioned factors suggests continuous glucose monitoring devices market growth in the near future.

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Continuous Glucose Monitoring Device Market Report Highlights

• Based on the component, the sensors segment led the market in 2023 with the largest revenue share of 40.66%, owing to technological advancements in the sensor technology such as development of smaller, more accurate, and longer-lasting sensors, which has made them more comfortable and convenient for users
• Based on the connectivity, the Bluetooth segments led the market with the largest revenue share of 59.6% in 2023. Bluetooth chip-enabled sensors are growing rapidly in the CGM market due to their ability to seamlessly transmit data to a connected device
• Based on the end-use, the homecare segment is expected to grow at a fastest CAGR of 7.73% and projected to maintain its dominance over the forecast period
• North America dominated the market with a revenue share in 2023, attributed to wide adoption of CGM devices along with the increasing prevalence of diabetes disorder in the region
• The Europe continuous glucose monitoring devices market holds the second largest market share in 2023 and expected to grow at a significant CAGR in the forecast period. The increasing awareness about the benefits of CGM devices, such as real-time monitoring of glucose levels, early detection of hypoglycemia and hyperglycemia, and reduction in HbA1c levels, is driving the demand for CGM devices in the region

Continuous Glucose Monitoring Devices Market Segmentation

Grand View Research has segmented continuous glucose monitoring devices market based on component, connectivity, end use, and region.

Continuous Glucose Monitoring Device Component Outlook (Revenue, USD Million, 2018 - 2030)

• Transmitters
• Sensors
• Receivers

Continuous Glucose Monitoring Device Connectivity Outlook (Revenue, USD Million, 2018 - 2030)

• Bluetooth
• 4G

Continuous Glucose Monitoring Device End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Homecare Settings
• Others

Continuous Glucose Monitoring Device Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players in the Continuous Glucose Monitoring Device Market

• Dexcom, Inc.
• Abbott
• Medtronic
• Ypsomed AG
• Senseonics Holdings, Inc.
• A. Menarini Diagnostics S.r.l.
• Signos, Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/continuous-glucose-monitoring-market

Fuel Cell Market Growth & Trends

The global fuel cell market size is expected to reach USD 36.98 billion by 2030, exhibiting a CAGR of 27.1% from 2024 to 2030, according to a new report published by Grand View Research, Inc. The rise in demand for unconventional energy sources is a key factor driving the growth.

North America accounted for a significant market share, due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerged as a growing market in terms of shipments. Rising demand for combined heat and power systems in is projected to drive the demand for fuel cell in the region.

Power-based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, fuel cell technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

Using fuel cells can minimize the dependency on non-renewable energy sources such as coal, natural gas, and petrochemical derivatives. Fuel cells employ electrochemical process for generation of energy and result in less combustion of fuels. Hybrid systems using conventional engines and fuel cells are deployed in most of electric vehicles.

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Fuel Cell Market Report Highlights

• Proton exchange membrane fuel cell (PEMFC) accounted for more than 60.0% of the global market in terms of revenue in 2023. PEMFC is widely used in applications such as forklifts, automobiles, telecommunications, primary systems, and backup power systems.
• Based on Components, the fuel cell market has been segmented into stack and balance of plant. In 2023, the stack segment accounted for the largest share of more than 60.0% in the global fuel cell market.
• The hydrocarbon segment accounted for the largest share of over 90.0% in 2023, owing to extensive infrastructure for production, transportation, and storage of hydrocarbons is already in place, making them readily available and affordable.
• On the basis of size, the fuel cell market is categorized into small-scale and large-scale. The large-scale holds a share of about 70.0% in 2023 of the global fuel cell market.
• Stationary fuel cells dominated the global market in terms of revenue, accounting for a market share of more than 69.0% in 2023, owing to the increasing demand for fuel cells from distributed generation facilities and backup power applications.
• Based on End-use, the fuel cell market has been segmented into transportation, commercial & Industrial, residential, data center, military & defense, and utilities & government.
• Asia Pacific held a significant revenue share of more than 65% in 2023 and is expected to grow at the fastest CAGR over the forecast period.

Fuel Cell Market Segmentation

Grand View Research has segmented the global fuel cell market report based on product, components, fuel, size, application, end-use, and region:

Fuel Cell Product Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• PEMFC
• PAFC
• SOFC
• MCFC
• AFC
• Others

Fuel Cell Components Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• Stack
• Balance of Plant

Fuel Cell Fuel Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• Hydrogen
• Ammonia
• Methanol
• Ethanol
• Hydrocarbon

Fuel Cell Size Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• Small-scale
• Large-scale

Fuel Cell Application Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• Stationary
• Transportation
• Portable

Fuel Cell End-use Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• Residential
• Commercial & Industrial
• Transportation
• Data Centers
• Military & Defense
• Utilities & Government

Fuel Cell Regional Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players of Fuel Cell Market

• Ballard Power Systems
• Bloom Energy
• Ceres Power Holdings PLC
• Doosan Fuel Cell America, Inc.
• FuelCell Energy, Inc.
• Hydrogenics Corporation
• Nedstack Fuel Cell Technology B.V.
• Nuvera Fuel Cells LLC
• Plug Power, Inc.
• SFC Energy AG

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/fuel-cell-market

Smart Agriculture Market Growth & Trends

The global smart agriculture market size is expected to reach USD 54.71 billion by 2030, registering a CAGR of 13.7% during the forecast period, according to a new report by Grand View Research, Inc. The major factors driving the growth of the agtech industry are the increasing use of Artificial Intelligence (AI) and Internet of Things (IoT) and the integration of image processing technologies into agriculture. Agriculture has grown significantly in recent years owing to precision agriculture practices. The development plan of several nations, such as India, China, and Brazil, emphasizes digital transformation and digitization across various sectors, including agriculture.

The smart agriculture business is predicted to be driven by factors such as constant population increase, favourable government incentives, a scarcity of cultivable land, and a desire for high and fresh-quality food. According to World Health Organization (WHO) and Population Council, an estimated 80% of the world's population lives in urban cities. However, the current land constraint in metropolitan areas has compelled producers to find a new way to produce fresh vegetables. The adoption of smart agriculture techniques will allow producers to grow crops indoors, in a multi-story building, stacked on racks, and in warehouse.

Smart farming can be utilized to produce organic crops on a vast scale. Vertical farming can be used in the large-scale production of organic crops. Controlled growing technologies such as hydroponics and aeroponics eliminate the use of chemical pesticides. Crops are produced in carefully chosen and well-monitored circumstances to guarantee optimal growth all year. As compared to open-field agriculture and other farming practices, vertical farm systems provide more crop rotation. Controlled humidity, temperature, and daylight will eventually result in a faster crop cycle. It takes 21 days for the system to produce fresh vegetables and greens. The growth rate is controlled with the help of a computer database that manages optimum growing conditions for various varieties such as baby spinach, lettuces, baby rocket, tatsoi, and basil.

Technological improvements in numerous industries have also positively impacted agriculture, as landowners and farmers are always striving to get the most out of their resources and land. Furthermore, due to labor difficulties such as a shortage of qualified farmers, a rising number of aged farmers, and a growing trend of large-scale farms, agriculture automation is gaining pace. Innovations in GPS mapping and associated farm applications, as well as advancements in precision agriculture, are also assisting farmers in operating more effectively and increasing their profit margins.

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Smart Agriculture Market Report Highlights

• Precision farming agriculture type held the significant market share in 2023 as it allows measured application of agriculture inputs such as fertilizers and pesticides, thereby boosting the crop yield
• The software segment is expected to register the highest growth rate over the forecast period. Cloud-based software is expected to be in high demand in the coming years
• Smart greenhouse application is expected to be the fastest-growing segment during the forecast period of 2024 to 2030. HVAC management applications held the largest share in terms of revenue in 2023
• The increasing adoption of modern technologies in agriculture, along with the reduced price of connected devices, is likely to influence the demand for smart agriculture solutions in the Asia Pacific regional market.

Smart Agriculture Market Segmentation

Grand View Research has segmented the Smart Agriculture market based on offering, application, and regions

Smart Agriculture Type Outlook (Revenue, USD Million, 2017 - 2030)

• Precision farming
• Livestock monitoring
• Smart greenhouse
• Others

Smart Agriculture Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
• Software
• Types

Smart Agriculture Application Outlook (Revenue, USD Million; 2017 - 2030)

• Precision farming application
• Livestock monitoring application
• Smart greenhouse application
• Others

Smart Agriculture Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa (MEA)

List of Key Players in the Smart Agriculture Market

• Ag Leader Technology
• AGCO Corporation
• AgJunction, Inc.
• AgEagle Aerial Systems Inc.
• Autonomous Solutions, Inc.
• Argus Control Systems Ltd
• BouMatic Robotic B.V.
• CropMetrics
• CLAAS KGaA mbH
• CropZilla
• Deere & Company
• DICKEY-john
• DroneDeploy
• DeLaval Inc
• Farmers Edge Inc
• Grownetics, Inc.
• Granular, Inc.
• Gamaya
• GEA Group Aktiengesellschaft
• Raven Industries
• Trimble Inc.
• Topcon Positioning System

Browse Full Report:https://www.grandviewresearch.com/industry-analysis/smart-agriculture-farming-market

Web 3.0 Market Growth & Trends

The global web 3.0 market is anticipated to reach USD 33.53 billion by 2030. The market is expected to expand at a CAGR of 49.3% during the forecast period, according to a new report by Grand View Research, Inc. The ability of Web 3.0 to authorize the users to use the decentralized blockchain technology for accessing the decentralized applications is the major factor driving the market growth. Web 3.0 provides perception based on the users’ search content and allows them to control their data on websites.

Web 3.0 technology is also used in social network platforms that aim to improve the customer experience, such as how customers communicate, interact and form communities. Rising investments in Web 3.0 blockchain technology to expand its application is a significant factor driving the growth of the industry. For instance, according to the statistics of Venture Intelligence, a financial analysis company, Web 3.0 and crypto startups have raised more than USD 1 billion in funding across 43 deals in the first six months of 2022.

Numerous companies across the globe are also focusing on launching Web 3.0 practices to help startups scale their businesses and develop innovative solutions. For instance, in July 2022, KiwiTech, an innovation ecosystem company, launched a Web 3.0 Center of Excellence service to empower the next-generation blockchain innovations for startup companies. Such a launch of services is expected to create lucrative growth opportunities for the market during the forecast period.

The companies operating in the blockchain technology space are trying to integrate enhanced technologies such as Artificial Intelligence (AI), blockchain, and others in their offerings. Enhanced technologies enable companies to improve their competitive edge and customer experience. The integration of blockchain technology offers a faster, reliable, and highly agile supply chain network. Blockchain companies integrate AI for a competitive edge and operational optimization, particularly benefiting supply chain networks.

The rising adoption of Web 3.0 cryptocurrencies to efficiently automate transactions over the internet is also anticipated to drive the industry’s growth. At the same time, trading cryptocurrencies in Web 3.0 offers better benefits, such as decentralization and growth potential. Moreover, it does not require permission from the higher authorities, which is an additional advantage. Countries are also focusing on legalizing cryptocurrency laws to attract new players and make improvements. For instance, in March 2022, Dubai established the Dubai Virtual Assets Regulatory Authority law, which aims to regulate blockchain-based assets.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/press-release/global-web-3-0-market

Web 3.0 Market Report Highlights

• The public segment dominated the market in 2023. The growth of the segment can be attributed to the increased demand for public blockchain technology owing to the free, secure, and permissionless accessibility to anyone with internet access.
• The cryptocurrency segment dominated the market in 2023. Enterprises are increasingly in need of high-performance cryptocurrency transaction services. Web 3.0 cryptocurrencies use blockchain and smart contracts to automate transactions and eliminate the need for a third-party entity which is anticipated to support the segment's growth.
• The retail & e-commerce segment is anticipated to register the fastest growth over the forecast period. Increasing demand for Web 3.0 blockchain in retail & e-commerce owing to benefits such as reduced costs, faster payments, improved security, and increased transparency is expected to fuel the segment's growth.
• The Asia Pacific regional market is anticipated to emerge as the fastest-growing market during the projection period. The increasing advancements in 5G, artificial intelligence, and machine learning is the major factor driving the growth of the Asia Pacific region. Moreover, growing investments in research & development of Web 3.0 is anticipated to aid the growth.
• In June 2023, SailGP, an international sailing competition extended its partnership agreement for additional three years with Oracle Corporation. ‘The Dock’, a Web 3.0-integrated fan loyalty programme will be powered by Oracle Customer Experience (OCX).

Regional Insights

The North American regional market dominated in 2023 and accounted for a global revenue share of 37.3%. The rising use of Web 3.0 in numerous operating systems, such as blockchain-based systems, is a major factor driving the growth of the regional market. At the same time, the presence of major blockchain solution providers such as Helium Systems Inc. and Web3 Foundation in the region is also accentuating regional growth.

Recent Developments

• In November 2023, Amazon Web Services, Animoca Brands, and Polygon Labs entered into collaboration agreement to support Web 3.0 developers and accelerate the development of Web 3.0 products and services. In this collaboration, the companies announced MoonRealm Express Accelerator program that allows builders across the world to fast-track the development in emerging areas such as SocialFi, GameFi, decentralized identity and encourage builders to develop new ideas and solutions on Mocaverse.
• In September 2023, Coinbase Global, Inc., a leading crypto exchange entered into partnership with Truflation, an economic data provider, to support Web3 and Blockchain technologies. This partnership aims to offer real-time inflation information required to expand Web3 and blockchain ecosystem.
• In June 2023, The International Business Machines Corporation (IBM) entered into a new collaboration with FYI.FYI, Inc. Both companies will incorporate IBM’s new AI and data platform, watsonx. FYI.FYI, Inc. currently operates on IBM Cloud and is supported by IBM technology to utilize cryptography. With watsonx, the FYI.FYI, Inc. deployed customized AI abilities to automate supply chain workflows and content creation, enhancing communication among teams, allowing more time for the creative process, and reducing administrative tasks.

Web 3.0 Market Segmentation

Grand View Research has segmented the global Web 3.0 market on the basis of blockchain type, application, end use, and region:

Web 3.0 Blockchain Type Outlook (Revenue, USD Million; 2019 - 2030)

• Public
• Private
• Consortium
• Hybrid

Web 3.0 Application Outlook (Revenue, USD Million; 2019 - 2030)

• Cryptocurrency
• Conversational AI
• Data & Transaction Storage
• Payments
• Smart Contracts
• Others

Web 3.0 End Use Outlook (Revenue, USD Million; 2019 - 2030)

• BFSI
• Retail & E-commerce
• Media & Entertainment
• Pharmaceuticals
• IT & Telecom
• Others

Web 3.0 Regional Outlook (Revenue, USD Million; 2019 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

List of Key Players in the Web 3.0 Market

• Web3 Foundation (Polkadot)
• Helium Systems, Inc.
• Ocean Protocol Foundation Ltd.
• Zel Technologies Limited.
• Kusama
• Livepeer, Inc.
• Filecoin
• Kadena LLC
• Polygon technology
• Terra

Browse Full Report: https://www.grandviewresearch.com/press-release/global-web-3-0-market

Generative AI Market Growth & Trends

The global generative AI market size is anticipated to reach USD 109.37 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 37.6% from 2025 to 2030. Growing demand to modernize workflow across industries is expected to drive the demand for generative AI applications among industries. Other factors that propel the market growth include the evolution of AI and deep learning, a rise of creative applications & content creation, and innovation of cloud storage, allowing easy data access. Moreover, the introduction of AI-powered gaming that provides more high-level visuals and graphics, interactivity, and a more realistic feel is projected to boost market growth in the coming years.

The COVID-19 pandemic had a positive impact on the market. Many organizations adopted AI & Machine Learning (ML) as a response to the pandemic. Many key players, such as Microsoft, IBM, Google LLC, and Amazon Web Services, Inc., witnessed a growth in sales of AI-based technology during the pandemic. Moreover, the accelerated advancement of digital platforms empowered the adoption of generative AI applications. For instance, in June 2020, Amazon Web Services, Inc. announced the addition of a new generative AI algorithm, Autoregressive Convolutional Neural Network (AR-CNN), to its AWS DeepComposer suite of products, allowing developers to create excellent music digitally.

AWS DeepComposer also provides learning capsules to developers to learn the basics of algorithms. Many generative AI market players offer solutions for numerous applications, such as text-to-image, image-to-image, and super-resolution. For instance, in March 2023, Microsoft Corporation, a software company in the U.S., launched Microsoft 365 Copilot, an AI assistant feature for Microsoft 365 services and applications. Microsoft 365 Copilot can benefit businesses by saving time, streamlining and automating their IT processes, and increasing productivity. Moreover, these industry players are researching generative AI technology for advanced image resolution, face aging, and video resolution technologies.

For instance, U.S.-based Tesla is developing autonomous algorithms using data from car sensors. Also, the neural networks are further trained to perform object detection and semantic segmentation. Investment in the AI and ML sectors to support the market will drive the North America regional market. The presence of tech players in the U.S. and Canada provides lucrative growth opportunities for the regional market. For instance, big tech companies like Microsoft Corporation, Google LLC, and Amazon Web Service are investing in generative AI startups and technology. Asia Pacific is expected to grow at a considerable CAGR from 2024 to 2030 owing to the expansion of end-user industries in countries, such as China and Japan.

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

Generative AI Market Report Highlights

• The software segment accounted for the dominant share of 64.2% in 2024. The growth of the software segment in generative AI is driven by factors such as the rise in fraudulent activities, overestimation of capabilities, unexpected outcomes, and increasing concerns about data privacy.
• The transformers segment accounted for the dominant share in 2024, largely due to its capacity to handle vast amounts of data efficiently.
• The media and entertainment industry accounted for the dominant share in 2024. The media and entertainment industry remains dominant in the generative AI market, as this sector extensively integrates AI for content creation, personalized recommendations, and audience engagement
• Natural language processing (NLP) holds a dominant position in the generative AI market, driven by its widespread applications in chatbots, virtual assistants, and content creation.
• Large language models (LLMs) continue to dominate the market, primarily due to their impressive capabilities in text-based tasks such as content generation, customer service automation, and data analysis.
• App builders stand as the dominant customer segment within the market, driven by their need to integrate AI capabilities into applications across industries.

Generative AI Market Segmentation

Grand View Research has segmented the global generative AI market on the basis of component, technology, end-use, application, model, customers and region:

Generative AI Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Service

Generative AI Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Generative Adversarial Networks (GANs)
• Transformers
• Variational Auto-encoders
• Diffusion Networks

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

• Media & Entertainment
• BFSI
• IT & Telecommunication
• Healthcare
• Automotive & Transportation
• Gaming
• Others

Generative AI Application (Revenue, USD Million, 2018 - 2030)

• Computer Vision
• NLP
• Robotics & Automation
• Content Generation
• Chatbots & Intelligent Virtual Assistants
• Predictive Analytics
• Others

Generative AI Model (Revenue, USD Million, 2018 - 2030)

• Large Language Models
• Image & Video Generative Models
• Multi-modal Generative Models
• Others

Generative AI Customers (Revenue, USD Million, 2018 - 2030)

• Model Builders
• App Builders

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

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

List of Key Players of Generative AI Market

• Adobe
• Amazon Web Services, Inc.
• D-ID
• Genie AI Ltd.
• Google LLC
• IBM
• Microsoft
• MOSTLY AI Inc.
• ai
• Synthesia

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/generative-ai-market-report

Online Dating Application Market Growth & Trends

The global online dating application market is projected to reach USD 14.42 billion by 2030, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.6% over the forecast period. Online dating is an online service that offers a platform for its members to chat, flirt, or fall in love. Online dating has become a social trend for finding a suitable partner or expanding social contacts. The most well-known online dating applications are Tinder and Bumble. Digital messaging on these online dating applications helps to enhance communication among people. A surge in the usage of the internet is the major factor fueling the growth of this market.

There are more than 1,500 dating websites and applications across the world and several dating apps and online platforms are exploring the utilization of artificial intelligence in dating applications for better matching and suitable profile recommendations. Online dating applications are developed using algorithms that detect people with similar interests and likes. For instance, Tinder is using machine learning and it had released a feature called ‘Smart Photos,’ which aims at increasing users’ chances of finding a match. Match.com has Lara, an AI chatbot that helps users find love based on an interpretation of hobbies, flaws, zodiac signs, etc.

Online dating applications are gaining tremendous popularity among young individuals, especially millennials. The usage of dating apps has witnessed a tremendous rise. Especially among the LGBTQ+ community owing to the social stigma associated with the community in many countries. The COVID-19 pandemic has had a favorable effect on the market. In terms of the total number of COVID-19 patients worldwide, Europe and the Asia Pacific were among the worst impacted regions. Additionally, things became worse in the U.S. Governments throughout the world issued orders for a complete lockdown, staying at home, and social seclusion due to the virus's rapid spread. People's social and romantic lives were impacted by the total lockdown. As singles searched for companionship and connection amid their social isolation, the use of dating apps increased dramatically.

The subscription segment led the market and accounted for more than 62% share of the global revenue in 2022. The subscription segment is further sub-segmented into age, gender, and type. The subscription segment is expected to maintain its commanding share throughout the forecast period. The 18-25 years age group was the largest user group of dating apps in 2021. The 26-34 years age group is expected to be the fastest-growing segment during the forecast period. By gender, male users dominated the market in 2021 with a revenue share of more than 60.0%. The female segment is expected to expand at the highest CAGR during the forecast period. The quarterly subscription is subscribed more by the users as compared to the monthly or yearly subscription. 

Asia Pacific is estimated to emerge as a predominant region over the forecast period. The regional market was valued at USD 1,764.8 Million in 2022 and expected to exhibit fastest growth in the forecasted period. The growth in the region is primarily driven by the large single population in the region, the growing purchasing power of the consumers, and urbanization among others.

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Online Dating Application Market Report Highlights

• Online dating applications are gaining traction owing to several factors such as growing use of the internet, changing perceptions toward online dating, and the growing single population across the globe
• Demand for online dating applications is expected to increase during the forecast period as the world population is increasing and online dating applications are adopting steps toward providing a safe environment to their users so that the users can safely browse
• Subscription segment dominated the market in 2022 and held a market share of more than 62% by 2030.
• The online dating application market has been segmented further into revenue generation and region. The revenue generation segment has been further sub-segmented based on age group, gender, and type.
• The 18-25 age group contributed to more than half of the entire subscription share. However, the 26-34 age group is expected to grow at the fastest CAGR during the forecast period. This is attributed to the increasing single population due to high divorce rates in countries such as U.S., Russia and Switzerland.

Online Dating Application Market Segmentation

Grand View Research has segmented the global online dating application market based on revenue generation and region:

Online Dating Application Revenue Generation Outlook (Revenue, USD Million, 2017 - 2030)

• Subscription
• Advertisement

 Online Dating Application Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players of the Online Dating Application Market

• Tinder
• Bumble Inc.
• Plentyoffish
• OkCupid
• Badoo
• Grindr LLC
• eHarmony, Inc.
• Spark Networks SE
• The Meet Group
• rsvp.com.au Pty Ltd.
• Zoosk, Inc.
• The League
• Coffee Meets Bagel
• Happn
• Feeld Ltd.
• 3Fun
• Lex
• #Open
• Taimi
• Bloom Community

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Electric Ranges Market Growth & Trends

The global electric ranges market size is anticipated to reach USD 37.59 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth due to rising consumer demand for energy-efficient appliances and heightened awareness of environmental sustainability. Advances in cooking technology, along with the integration of smart home features, are making electric ranges increasingly attractive to urban consumers.

A 2023 Climate Nexus survey indicates a near split in preferences, with 43% of American adults favoring gas stoves and 42% preferring electric. However, there is considerable public concern over gas stove safety and strong support for regulations addressing the risks of methane emissions. This evolving sentiment is likely to drive consumers toward electric ranges as they seek safer, more sustainable cooking options.

The market is governed by several key regulations aimed at ensuring safety, accessibility, and energy efficiency. UL 858 sets standards for maximum surface temperatures of ovens, handles, and knobs to prevent burns and fires. The ADA/ANSI and UFAS regulations mandate that controls must be reachable and operable with one hand, enhancing accessibility for all users.

Additionally, electric ranges must comply with electrical requirements that necessitate a dedicated circuit, typically a 50-amp, 240-volt setup. The Inflation Reduction Act provides funding for state-level rebates on electric appliance purchases, encouraging consumers to upgrade to energy-efficient models.

A 2022 report by Consumer Reports highlights that electric ranges typically outshine gas models in key cooking performance areas, such as high and low heat, with nearly half of electric smooth top ranges earning excellent ratings-none for gas. While gas ranges excel in baking, electric models take the lead in broiling, with over half receiving very good ratings. This performance disparity, alongside growing concerns about health risks and environmental issues related to gas stoves, such as methane emissions, is driving a consumer shift toward electric ranges. As awareness of these concerns increases, the electric ranges industry is poised for substantial growth.

The Asia Pacific electric ranges market is projected to grow at a CAGR of 8.2% from 2024 to 2030, fueled by rapid urbanization and increasing disposable incomes in key countries like India and China. As more households gain access to electricity and modern cooking appliances, the demand for electric ranges continues to rise. Furthermore, a heightened awareness of energy efficiency and environmental issues is encouraging consumers in these regions to transition from traditional cooking methods to electric options, enhancing the appeal of electric ranges in the market.

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Electric Ranges Market Report Highlights

• Based on product, freestanding electric ranges accounted for the largest revenue share of 62.10% in 2023 due to their versatility, ease of installation, and cost-effectiveness. These appliances are favored by homeowners for their convenience, as they can be placed anywhere in the kitchen without the need for built-in cabinetry. Additionally, their wide array of features, including self-cleaning options and multiple cooking modes, enhances their appeal and solidifies their position as the largest segment in the market
• Based on application, the demand for electric ranges in commercial applications is projected to grow at a CAGR of 8.1% from 2024 to 2030, fueled by the hospitality and restaurant sectors' increasing shift toward energy-efficient and environmentally friendly cooking solutions. As establishments aim to comply with strict emissions and energy regulations, many are moving from gas to electric ranges, which provide precise temperature control and quicker cooking times
• Based on the distribution channel, mass retailer-driven sales represented over 47% of the global market. These retailers are propelling sales by leveraging economies of scale, vast distribution networks, and competitive pricing strategies. By providing a diverse range of products from multiple brands at attractive prices, they appeal to a wide customer base looking for value and convenience
• In 2023, the electric ranges market in North America captured a 37.11% share of global market revenue, fueled by a strong preference for energy-efficient appliances and cutting-edge cooking technologies. The rising popularity of induction cooking, known for its speed and energy efficiency, has significantly heightened consumer interest in electric ranges equipped with this feature. Moreover, local manufacturers like Whirlpool and GE have made substantial investments in smart appliance capabilities, such as Wi-Fi connectivity and voice control, catering to the demands of tech-savvy consumers
• In January 2023, Sharp Home Electronics showcased new 30" slide-in electric ranges and smart combi appliances at the 2023 Kitchen & Bath Industry Show (KBIS) in Las Vegas. The lineup includes electric and gas convection ranges with features like Air Fry, Pizza modes, and temperature probes. Sharp also introduced smart convection wall ovens and radiant rangetops with integrated Microwave Drawer Ovens, compatible with Alexa. These appliances emphasize convenience, versatility, and premium design

Electric Ranges Market Segmentation

Grand View Research has segmented the global electric ranges market on the basis of product, application, distribution channel, and region:

Electric Ranges Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Freestanding Electric Ranges
• Slide-in Electric Ranges
• Drop-in Electric Ranges

Electric Ranges Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Residential
• Commercial

Electric Ranges Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Mass Retailers
• Electronic & Appliance Stores
• Online/E-Commerce
• Others

Electric Ranges Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players in the Electric Ranges Market

• Whirlpool Corporation
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• General Electric (GE Appliances)
• Bosch (BSH Hausgeräte GmbH)
• Frigidaire
• Haier Group Corporation
• Miele & Cie. KG
• Brown Stove Works, INC.
• Rangaire

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Wheat Market Growth & Trends

The global wheat market size has been estimated to reach USD 270.88 billion by 2030 and is anticipated to expand at a CAGR of 4.28% from 2024 to 2030, according to a new report by Grand View Research, Inc. A rapid shift in dietary preferences and fast-evolving consumption habits are playing a pivotal role in the rising demand for organic food products, thereby intensifying the global requirement for wheat. Additionally, the increasing popularity of processed and convenient foods is fueling the demand for wheat-based products, leading to a surge in global wheat production.

Conventional wheat accounted for a dominant market revenue share in 2023. The production of this type of wheat depends on the use of synthetic fertilizers and pesticides to achieve higher yields, effectively meeting the growing global wheat demand. Furthermore, the established supply chain present in conventional wheat farming ensures efficient distribution and widespread market access for wheat products.

The B2B segment held a dominant market share in 2023. This sector holds significance, particularly in facilitating transactions related to the production of food and beverage items. Within this space, the food and beverages industry is playing a pivotal role in driving growth, given that wheat serves as a fundamental ingredient for a variety of food products, including pasta, bread, pastries, and breakfast cereals. Food processing facilities, such as bakeries, actively participate in B2B relationships to ensure a reliable and high-quality supply of essential ingredients.

Asia Pacific accounted for the largest share of the global market. The animal husbandry sector in the region is one of the key contributors, as it extensively utilizes wheat as a crucial ingredient in livestock feed. It serves as a valuable energy source for poultry, cattle, and swine. Livestock farmers and feed producers rely on wheat to formulate well-balanced and nutritious animal feed. The Asia-Pacific region, boasting a flourishing poultry and dairy industry, is experiencing market growth driven by an increasing demand for wheat in poultry feeds.

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Wheat Market Report Highlights

• Asia Pacific is expected to advance at the highest CAGR from 2024 to 2030. Regional governments actively promote wheat production by implementing agricultural policies, providing subsidies, and launching various initiatives. Additionally, regional economies have embraced modern farming practices and technologies to augment the productivity of wheat cultivation
• The organic wheat segment is estimated to expand with substantial CAGR over the forecast period. This segment is experiencing rapid growth owing to increasing consumer health concerns and a growing awareness regarding organically produced food crops
• The B2B segment is expected to progress with a higher CAGR over the forecast period. Within this segment, wheat finds diverse industrial applications, playing a role in biofuel production, as well as for producing industrial starch for processes and pharmaceuticals. Companies engaged in this sector rely on B2B transactions to secure wheat supply that is tailored for these specific applications

Wheat Market Segmentation

Grand View Research has segmented the global wheat market on the basis of nature, end-user, and region:

Wheat Nature Outlook (Revenue, USD Million, 2018 - 2030)

• Conventional
• Organic

Wheat End-user Outlook (Revenue, USD Million, 2018 - 2030)

• B2B
• B2C

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

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players in the Wheat Market

• China National Cereals,Oils and Foodstuffs Corporation (COFCO)
• Archer-Daniels-Midland (ADM)
• Cargill, Inc.
• CHS Inc.
• Bunge
• Glencore
• Louis Dreyfus Company
• Ardent Mills
• The Scoular Company
• Munsa
• Nisshin Seifun Group Inc.
• SENSAKO
• The Soufflet Group
• Adani Wilmar
• Adecoagro

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Soup Market Growth & Trends

The global soup market size is expected to reach USD 26.21 billion by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing demand for processed, ready to eat, and packed food and increasing women workforce are expected to increase the market demand in the upcoming years. In addition, increase in disposable income and changing consumer lifestyle in emerging economies including China and India are anticipated to increase the demand for soups.

Consumption of canned and dried soup products is increasing in North America and Europe, on account of continuous product innovation as per customer behavior and preferences. In addition, growing economic independence among women is increasing the consumption of packed and processed food products in the developed countries.

Soup being a healthy source of vitamins, minerals, nutrition, and protein serves as a prominent replacement for home cooked food. Therefore, this evolution in the working population is anticipated to significantly influence the demand for soup in future. Demand for soups in restaurants, food outlets, and food joints is expected to acquire a small market share due to growing consumer preference for ready to eat products and rising inclination towards healthy food habits.

Continuous use of cornstarch and salt in canned and dried soup products is expected to act as a restraining factor in the global market. High consumption of corn starch can lead to several health issues like increased level of blood sugar and blood pressure. However, continuous product development by companies such as Campbell Soup Company, which provides new flavors like roasted red pepper and tomato, butternut squash and sweet potato, and harvest carrot and ginger, is expected to influence the buying behavior of the younger population across the globe. The market leaders are focusing on developing new flavors and products in order to make their style statement in the market.

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Soup Market Report Highlights

• By product, The UHT (ultra-high temperature) segment is expected to register the fastest CAGR during the forecast period. The growth of UHT soups is driven by long-shelf-life ingredients that don’t require refrigeration, making them ideal for busy lifestyles and reducing meal waste.
• The dried segment accounted for the largest market revenue share of 59.5% in 2023. The Growing demand for convenient and prepared-to-eat food alternatives, specifically in busy city populations, offers a significant opportunity for producers to innovate and expand their product services.
• The supermarkets/hypermarkets segment dominated the market in 2023. Supermarkets/hypermarkets offer various soup varieties from different brands and nutritional needs, providing consumers with vast choices and convenient shopping in the same place.
• The Europe region dominated the market with a revenue share of 38.9% in 2023. The climate in Europe also plays a role in the growth of the soup market.

Soup Market Segmentation

Grand View Research has segmented the global soup market on the basis of on product, distribution channel, and region:

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

• Canned
• Dried
• UHT
• Others

Soup Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Others

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

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players in the Soup Market

• Associated British Foods plc
• Baxters Food Group Limited
• Campbell Soup Company
• Conagra Brands, Inc.
• General Mills, Inc.
• Hindustan Unilever Limited
• Nestlé S.A
• Ottogi Co., Ltd
• Premier Foods Group Limited
• The Kraft Heinz Company

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