Range Hood Market Analysis by Geographical Regions, Type and Application Till 2027

 

• Range hood is a device that has a mechanical fan which hangs above the cooktop or stove. Range hoods remove combustion products, smoke, fumes, airborne grease, steam, and heat from the air by clearing of the air and filtration. 

Key Drivers of the Global Range Hood Market

• Increasing number of food chains globally is driving growth of the kitchen hood market. Food chain companies prefer to install advanced kitchen hoods for its easy cleaning ability.
• Rising working population at the global level is expected to boost the usage of this product among residential consumers. Governments of different countries have stringent regulations pertaining to the cleanliness of food manufacturing companies. Furthermore, these devices have added features such as maintenance of air quality, heat reduction, and increased safety, which is likely to drive the market in the next few years.
• Increasing consumer spending through online distribution channels is also likely to propel market growth. Key companies are offering their products through online and offline channels to increase their customer base. 

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Rising Demand for Smart Kitchen Devices to Create New Market Opportunities

• Innovations in the kitchen products industry is set to create new avenues in the range hood market. Companies are introducing IoT based products with advance features. Furthermore, consumer demand for smart features, including wireless connectivity, noise reduction, and temperature control, is expected to encourage market growth. 

Availability of Low Cost Alternatives to Hamper the Global Range Hood Market

• Maintenance cost of range hood products is very high. Moreover, suitable alternative products including exhausts are available at a cheaper price. This factor will slow down the market growth in the coming years. 

Asia Pacific the Dominant Market Set to Expand at a Higher Pace

• Asia Pacific is estimated to be the fastest growing region of the global range hood market. The rising working population is investing in advanced kitchen equipment. Furthermore, rising disposable income in developing economies such as China and India is expected to boost the market growth in the near future.
• North America is the largest market for kitchen hood products. Consumers of this region prefer to use advanced products that consume less energy. Companies in North America are working on product development strategies which support product demand. U.S. based company, North American Kitchen Solutions, Inc. launched a product namely UL710 Type 1 hood. This product operates without a factory cut duct connection, which reduces operational cost.

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Key Players Operating in the Global Market

Competition in the global range hood market is very high. Large number of small and large scale players are present in the market. Companies are opting for various strategies to expand their market share including merger & acquisition, and product innovation and development. For example, India based company Faber started offering chimneys without filter. This product makes lower noise than similar products. Moreover, it also does not require regular cleaning.

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Luxury Goods Market to Witness Significant Growth between 2020-2027

Luxury market consists of nine segments, which is dominated by luxury hospitality, personal luxury goods and luxury cars. These segments collectively account for almost 80% of the entire market. Overall, luxury goods market has shown significant growth in recent years. The growth is attributed to growing income of individuals.  Also, luxury items represent social status. Thus, people tend to buy luxury goods to show off their status. Registering the trend, the luxury goods market is anticipated to show promising growth in the coming years.

In category of luxury goods, jewellery and shoes are among top items contributing nearly 7% of the overall revenue generated. Handbags and beauty products are next in line. At the same time, sale of watch produced average revenue.

Emergence of online stores is driving the sale of luxury items. E-commerce is facilitating easy purchase option of products produced at distant places. This, in turn, has contributed significantly to the growth of global luxury good market. On the other hand, contribution through offline stores has decreased drastically. This is a consequence of competition by online stores.

Registering the preference and demand for online purchase of luxury products, the luxury goods market is anticipated to grow significantly in the coming years.

Global Luxury Goods Market: Overview

In an era of rapidly changing trends, producers of luxury goods have started to keep a watch on a new class of consumers that is rising these days. High-Earners-Not–Rich-Yet (HENRY) is the new class of consumers is likely to become increasingly relevant in the times to come. In addition to that, luxury goods manufacturers are now making substantial investment to draw the attention of the younger section of the population, who comprise the future consumers of luxury goods. Attempts to trigger interest of younger generation are likely to fuel growth of the global luxury goods market.

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These ‘new’ tech savvy generations desire for seamless, individualized brand relationship and are investing in brands across the globe to market products utilizing social and digital media platforms. They are also using the same platform to engage with existing and prospective consumers.

Type, gender, mode of sale, and region are the five key parameters based on which the global luxury goods market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

Global Luxury Goods Market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global luxury goods market is mentioned below:

• In November 2019, Louis Vuitton Moet Hennessy (LVMH) acquired US-based luxury jewelry and specialty retailer Tiffany & Co. The acquisition is one of the largest in the business of luxury retail. Following the acquisition, it is expected that LVMH will be able to expand its reach and diversify its product offerings.

Some well-known organizations in the global luxury goods market include the below-mentioned:

• The Estée Lauder Companies Inc.
• Cie Financiere Richemont SA
• LVMH Moët Hennessy
• L’Oréal S.A.
• Kering S.A.
• Prada S.p.A.

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Global Luxury Goods Market: Key Trends

The following drivers, restraints, and opportunities characterize global luxury goods market over the assessment period, from 2019 to 2027.

Younger Generation Likely to Fuel the Demand for Luxury Goods

The global luxury goods market is expected to be fuelled by the augmented demand for premium cosmetics and beauty products. In addition, the increased uptake of omnichannel retailing is likely to encourage growth of the global luxury goods market further.

In addition, there has been a rise in the disposable income of people together with increased awareness about various skin-related issues. These factors have increased the consumer spending on various high-end skincare products such as Bobbi Brown, Mac, Estee Lauder and so on. Rise in the expanding base of aging population generates demand for premium anti-aging creams. Increased spending on such premium brands is likely to support growth of the global luxury goods market over the tenure of assessment, 2019 to 2027. To cater to the rising demand for such innovative and advanced skincare technologies and products, manufacturers are investing more into research and development activities, which is estimated to boost the demand for luxury goods in the years to come.

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Pre-shave Products Market Opportunity Assessment 2020-2027

 

• Pre-shave products are used for an extra protection layer on the skin during shaving. It improves the quality of shaving by loosening up the skin cells. Pre-shave products include a wide range of products such as cream, oil, and soap. Increasing importance of personal grooming due to changing corporate culture is surging the shaving products market which is leading to the demand for pre-shave products. Significant growth in spending on personal care products over the last few years is expected to create a positive influence on the pre-shave products market in the coming years.
• Several developing countries are seeing a rising demand for pre-shave products owing to the corporate culture and growing purchasing power of consumers, which is leading to growth in spending on personal care products.  Increasing number of salons and barber shops is also expected to boost the global pre-shave products market in future.

Key Drivers of the Global Pre-shave Products Market

• Significant surge in the personal care products market across the globe and increasing preference for organic products are major driving factors of the pre-shave products market. Manufacturers are adopting different natural and organic ingredients to manufacture skin friendly products which is expected to create a positive influence on the pre-shave products market. They are also focusing on product branding and marketing through social media and other advertisement channels which also attracts a vast number of customers.
• Development of modern distribution channels have benefited leading manufacturers, enabling them to reach out to customers of different regions. Availability of a wide range of products under one roof and several offers and discounts are attracting customers. These factors are also anticipated to surge the global market in the coming years.
• Leading companies in personal care products manufacturing are spending significant amounts on research and development to introduce new products according to consumer requirement and are also focusing on customer specific formulations of products. This is also uplifting the market demand across the globe.

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Pre-shave Products Anticipated to Create Attractive Opportunities in Future

• Consumers in developing economies such as Asia Pacific and Africa are anticipated to create huge demand for pre-shave products in the coming years. Changing consumer lifestyle and westernization coupled with growing purchasing power are expected to create lucrative opportunities for the pre-shave products market during the forecast period.

North America and Europe Anticipated to Dominate the Global Pre-shave Products Market

• North America and Europe hold leading share in the global pre-shave products market due to increasing demand for personal care and beauty products. Presence of several leading manufacturers is expected to create a positive influence on the regional market. Developed countries in these regions are showing significant increase in demand for organic and natural products due to growing awareness about adverse effect of chemicals which is also encouraging the pre-shave products market in these regions.

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• Growing purchasing power, increasing standard of living, and changing lifestyle in emerging countries across Asia Pacific is expected to boost the market growth in this region. Growing preference for personal care products is also a promising factor for manufacturers of pre-shave products to expand their business.
• Middle East & Africa, and South America are also expected to show enhanced demand for personal care products. Increasing population and disposable income across South American countries is expected to create a positive influence on the regional pre-shave products market in the coming years.

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MWIR Cameras Market to witness Huge Growth by 2027

 

• Medium wavelength infrared (MWIR) cameras are used as detection systems for gas leakage. Some of these gases are completely invisible to the naked eye.
• MWIR collects light within the spectral band of 3.0–5.0 μm. The MWIR band is the spectrum where thermal contrast is high, due to which the variation in radiation with temperature is less as compared to the LWIR band. Hence, MWIR images provide better contrast than LWIR images.
• Based on type, MWIR cameras are classified into handheld cameras and mountable/drone cameras. These cameras are lightweight and are useful for monitoring of hazardous gases.
• Additionally, MWIR thermal cameras are capable of achieving the longest range detection for thermal infrared surveillance cameras
• MWIR cameras provide accurate temperature measurement, sharp imagery, and streamlined analysis features, which are required for military, industrial, and manufacturing R&D applications

Rise in Demand for MWIR Cameras for Use in Military Operations

• MWIR cameras are largely used in military applications, such as security & surveillance, which is considered a major factor driving the market.

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• MWIR cameras are employed in surveillance systems to keep a track of the surroundings, owing to their capability to detect illegal activities even in degraded weather conditions.
• Since MWIR cameras are used in various critical military operations, the demand for technologically advanced, high-definition resolution cameras is increasing. As a result of this, several manufacturers of MWIR cameras are focusing on developing high-definition resolution cameras at low prices.
• For instance, in March 2020, FLIR Systems, Inc. launched a new high-definition mid-range surveillance system for use in military applications, which captures HD imagery with AI (artificial intelligence) image processing for quick decision making, thereby enabling operators to distinguish between true threats and false alarms
• As a result of these advantages, the demand for MWIR cameras for use in military applications is increasing, which is expected to drive the global MWIR cameras market during the forecast period.

North America to Lead Global MWIR Cameras Market

• In terms of region, the global MWIR cameras market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
• North America is anticipated to dominate the global MWIR cameras market throughout the forecast period, as a large number of manufacturers of MWIR cameras operate in the region
• The MWIR cameras market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.

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Key Players Operating in Global MWIR Cameras Market

The global MWIR cameras market was highly fragmented in 2018. Major players operating in the global market are focusing on technological advancements and expansions to meet the risen demand for MWIR cameras. Moreover, manufacturers are entering into partnerships for the development of innovative products.

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Magnetic Sensors Market Growth and Status Explored in a New Research Report

The global magnetic sensors market was valued at US$ 2,112.6 Mn in 2017, whereas the demand was estimated at 3,488.0 thousand units in the same year. The market is expected to register a stable CAGR of over 7% during the forecast period 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Magnetic Sensors Market” – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” Encouragement from the government to use eco-friendly vehicles and growth of consumer electronics and appliances has increased the penetration and growth of the magnetic sensors market globally. The market in North America is expanding at a significant CAGR of 7.3% on the backdrop of growing deployment of autonomous vehicles and presence of large number of market players.

Technological advancements in consumer electronics with proliferation of IoT technology are expected to increase the demand for magnetic field sensors. Demand for advanced sensing has increased significantly over the past few years primarily due to growing popularity of sophisticated smartphones. Various consumer electronics companies across the world are deploying sensing devices with magnetic sensors in order to deliver contactless measurement with enhanced accuracy and reliability. Semiconductor providers from North America are continuously taking efforts to introduce advanced technology sensors that are used in exercise equipment, household appliances, digital cameras, smartphones, toys, and other electronic devices and equipment. Key trends prevalent in the magnetic sensors market are tunnel magneto resistance (TMR) linear magnetic field sensors, ultra-low pressure sensor, miniaturized magnetic sensors, automotive sensors, and RFID magnetic sensors.

Hall Effect Segment to Dominate the Global Magnetic Sensors Market

The technology segment is divided into Hall Effect, anisotropic magneto resistance (AMR), giant magneto resistance (GMR), tunnel magneto resistance (TMR), and others. Hall Effect segment is anticipated to dominate the market as it offers a wide range of benefits, including ease of implementation, variety of output options, a wide range of operating voltage, high reliability, and compact design. This technology offers high output and sensitivity and provides unique sensing capabilities. These factors are expected to boost the growth of the magnetic sensors market. Hall Effect segment is anticipated to expand at the highest CAGR of 7.6% during the forecast period 2018 to 2026. Tunnel Magneto Resistance (TMR) segment is projected to expand at a significant CAGR over the forecast period owing to the broad range of industrial applications.

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Surging demand for magnetic sensors from the automotive sector, driving the market

The application segment is divided into automotive, consumer electronics, industrial and others. Automotive segment is anticipated to dominate the market owing to the growing deployment of autonomous vehicles around the globe. Sensor vendors are emphasizing on providing efficient devices which can serve a wide range of applications. Sensing devices are being increasingly used in the automotive sector to improve vehicles’ fuel efficiency, convenience, and safety.

Growing use of electric vehicles (EVs) is escalating the demand for several sensing devices, including magnetic sensors. Automotive segment is anticipated to expand at the highest CAGR of 7.6% during the forecast period 2018 to 2026. Consumer electronics segment is projected to expand at a significant CAGR over the forecast period owing to the growing use of smartphones and consumer wearable devices such as smart watches and health monitoring devices.

Surging demand for smartphones and automobiles and constant growth in automotive industry in the U.S., Germany, China, India, South Africa, and Brazil to create more opportunities in the market

Geographically, the global magnetic sensors market is divided into five major geographical regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. In 2017, North America was the topmost revenue generating region followed by Asia Pacific. Semiconductor providers from North America are continuously taking efforts to introduce advanced technology sensors that are used in household appliances, digital cameras, smartphones, toys, and other electronic devices and equipment. The U.S. held the highest market share in 2017 in North America and is estimated to expand at a considerable CAGR during the forecast period. The market in Europe is anticipated to expand at a significant CAGR during the forecast period due to the growing technological advancements in automotive industry.

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Countries across the European Union are now focusing on adopting hybrid cars that require Hall Effect current sensing in vehicle’s power systems in order to enhance the performance at low costs. The magnetic sensors market in Asia Pacific is further expected to expand at the highest CAGR of 8.7% over the forecast period. Factors such as growing popularity of smartphones and wearable devices and strong presence of major sensor vendors in Asian countries such as China and Japan have impacted the regional market growth positively. Middle East & Africa and South America are expected to expand at a substantial pace due to the growing investments in the consumer electronic industry in the regions.

Key Players such as Asahi Kasei Corporation, Infineon Technologies AG, TE Connectivity Corporation, and Honeywell International Inc. are likely to continue to lead the global magnetic sensors market

The company profiling of key players in the global magnetic sensors market includes company overview, major business strategies adopted, SWOT analysis, and market revenues for years 2016 to 2018. The key players profiled in the global magnetic sensors market includes Infineon Technologies AG, Honeywell International Inc., NXP Semiconductors, Alps Electric Co. Ltd, Analog Devices, Inc., TE Connectivity Corporation, Allegro Microsystems, Inc., Asahi Kasei Corporation, Magnetic Sensors Corporation, and Elmos Semiconductor AG. Various players are establishing partnerships to provide technologically advanced sensing devices on a large scale in order to meet the continuously increasing demand for sensing accuracy and efficiency.

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Real Time Store Monitoring Platform Market Will Reflect Significant Growth Prospects of US$ Mn during 2020-2028

The real time store monitoring platform market may record steadfast growth in the forecast period of 2019-2028 on the back of the associated advantages such as prevention of consumer data loss, vendor fraud detection, identification of internal theft, etc. Real time store monitoring platforms are used by multichannel retailers primarily for efficient data management and for gaining a competitive edge in multichannel execution. The real time store monitoring platform enables proper viewing of all the store activity on a day-to-day basis and provides clear data on store performance.

The ongoing report on the real time store monitoring platform market analyses and displays a wide range of possibilities that can place the market shareholder on the path of growth even during unprecedented situations like COVID-19 pandemic.

The report sheds light on vital components important for boosting the growth of the real time store monitoring platform market such as ongoing trends, competitive assessment, and regional outlook. The report presents an expert microanalysis of every aspect that can influence the growth rate of the real time store monitoring platform market positively.

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Real Time Store Monitoring Platform Market: Competitive Analysis

The real time store monitoring platform market is extremely competitive with many key players in the fray for acquiring the top place in the pyramid of well-established names. The players involved in the real time store monitoring platform market invest hugely in extensive research and development activities for achieving this goal. Mergers, acquisitions, collaborations, joint ventures, and partnerships also take place frequently for strengthening the market position. This aspect eventually benefits the real time store monitoring platform market in terms of growth.

• Renmark Holdings recently partnered with Chinese systems integrator, Hanvon Technology, for transformation of China Mobile’s 17,800 corporate stores into smart retail stores.
• Checkpoint systems launched a new system to assist retailers in viewing in-store occupancy. Employees and managers can access the information via cloud-based technology on tablets or any other device connected with the software.

Real Time Store Monitoring Platform Market: Key Trends

With cashier-less stores like Amazon Go gaining traction across the world, the real time store monitoring platforms play an important role in managing these types of stores. Observing the growing trend of such stores, startups are coming up with novel real time store monitoring platforms that support efficient cashier-less monitoring. For instance, Grabango, a startup has launched a real time store monitoring platform where the products in the store picked by the consumers are tracked through computer vision technology. While a consumer leaves a store, it automatically tallies the items and enables payment through the Grabango app, eliminating the need for cashier payment. Such technologies in the real time store monitoring platform market may gain considerable momentum in the near future.

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The use of real time store monitoring platforms for dynamic pricing of the products through analyzing the overall market scenario is also picking pace as a vital feature. Price monitoring tools equipped in the real time store monitoring platforms are rapidly acquiring a place of importance as highlighters that convince an enduser for purchasing. Improving the overall store experience by providing offers and promotions on the basis of customer preference may also bring good growth opportunities for the real time store monitoring platform market.

Real Time Store Monitoring Platform Market: Regional Assessment

The real time store monitoring platform market is geographically segmented into Latin America, the Middle East and Africa, North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and Japan. North America may serve as a growth leader for the real time store monitoring platform market owing to the rising number of cashless stores across the region and the growing influence of technology in the retail sector.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Industrial Robot Market Future Forecasts, Growth Rate, And Industry Analysis To 2027

Adoption of robots equipped with artificial intelligence in manufacturing industries is likely to accelerate the growth of global industrial robot market during the forecast timeframe.

In the last few decades, robots have revolutionized the industrial world. Industrial robots are now making their way into the larger business world. Robotic workers are now common sight in many sectors such as electronics manufacturing and automobile, now they are making foray into healthcare, food production, retail and other industries.

In an upcoming report, Transparency Market Research offers a 360-degree view of the global industrial robot market. The study attempts to elucidate all the vital strategies of growth and dynamics of the market. It also offers profiles of renowned companies that are operating in the global Industrial Robot market.

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Global Industrial Robot Market: Notable Developments

With regards to recent developments, the global industrial robot market manifest the following moves in the market

• In October 2018, DENSO, leading mobility supplier, acquired EASE Simulation Inc., a firm that specializes in the technology of automotive diagnostics. The full acquisition of EASE Simulation Inc., is expected to enable DENSO to improve the services that are offered within the scope of its non-automotive, Original Equipment Service, and aftermarket businesses

Denso Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Universal Robotics are some of the names to reckon with in the global industrial robot market.

Global Industrial Robot Market: Key Trends

The following factors are expected to propel the growth of global industrial robot market:

Rapid Pace of Industrialization Necessitates Usage of Robots to Maximize Profit

The global industrial robot market is forecasted to be triggered by numerous factors such as high cost of labor, declining price of industrial robots, expanding electronics industry and so on.

Dearth of efficient workforce together with high cost of labor has resulted in the rising adoption of industrial robotics in many of the industrial sectors. Usage of robotics in any business enhances productivity and, hence, the profitability of the company also increases. Companies now treat robots as its helping hand.

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The demand for industrial robots is reaching the sky as industrialization is taking place at such a high pace. The extraordinary surge in the global demand for industrial robotics is, as such, quite understandable.

Many businesses are coming up with extremely promising products such as service robots, intelligent warehouses, and self-driving trucks across all parts of the logistics value chain, Industrial robots are also used for packaging and pick-and-place services, and this is further pushing for industrial automation.

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