ReleaseWire Connect

North America and Europe contributed to around 80% of the global recreational vehicle (RV) market. High growth of the recreational vehicles in these regions can be attributed to high average disposable income of the population that allows the consumers to invest in luxurious recreational vehicles for outdoor activities. Moreover, few people owning RVs utilize them as full-time residential facility, allowing them the mobility and facilities of residence. Growing consumer interests in touring and other recreational activities such as camping, sight-seeing, new destination exploration, etc. are expected to present favorable growth prospects through the forecast period.

U.S. Action Camera Market size led regional demand and is anticipated to continue its dominance over the forecast period.

Increasing demand for natural cosmetic products majorly among the millennial population may stimulate vitamin ingredients market for food & personal care applications. These skin care products have the potential to reduce wrinkles, dark spots, aging-induced cell damage and inflammation which may further boost industry growth. Vitamin Ingredients Market for Food & Personal Care Applications is set to surpass USD 7 billion by 2024; according to a new research report by Global Market Insights, Inc.

Automated Optical Inspection (AOI) System Market is expected to reach USD 1 billion by 2024. The technical advancements in optical inspection techniques including 3D inspection methods are driving the industry growth. The demand for these techniques is attributed to the benefits associated with them such as highly defined product images and larger inspection areas. The increased demand for printed circuit boards and surface-mount technology in all electronic devices and several automobile systems creates opportunities for AOI system development. Moreover, the trend of PCB miniaturization to be deployed across several automotive and electronic applications further accelerates the industry development.

U.S. earplugs market share is expected to continue its dominance owing to high disposable income, increasing awareness about noise pollution hazards accompanied by rapid technological advancements across the region. Europe earplugs market size is predicted to experience high growth prospects over the forecast period. Middle East & Africa is expected to pose massive growth opportunities from 2016 to 2023. Lack of awareness regarding importance of these devices across certain regions is anticipated to hinder earplug market growth.

Rapid industrial expansion in the Asia Pacific region will be one of the major factors influencing the compressed air treatment equipment market. Countries such as India, China, Japan, and Indonesia have undergone tremendous growth in the last couple of years and will display exceptional industrial development in the succeeding decade.

Europe Industrial Air Filtration Market size is set to exceed USD 1.85 billion by 2022. Driven by stringent safety and health regulations such as the Euro VI associated with the emission limits of the vehicle the Europe industrial air filtration market is anticipated to grow over the forecast timeline. The sectoral directive with IPPC (Integrated Pollution Prevention and Control) has setup the emission limit standards for large combustion plants to reduce air pollution.

Painting tools market revenue is forecast to experience a tremendous surge over the coming years, subject to high product usage in consumer goods, construction, packaging, industrial equipment, automotive, furniture, and home appliances sectors. Thriving paints & coatings sector along with favorable product features such as rust-resistance & attractive textures are expected to contribute remarkably toward the product popularity.

The physical security market based on the component can be segmented into hardware, services, and software. The hardware segment is expected to grow at the highest rate and can be further divided into card-based access control systems, biometrics, intrusion detection & prevention systems, and video surveillance devices such as CCTVs. Growing investments in these devices are expected to fuel the market growth.

With increasing adoption of industrial IoT in the U.S., North America is expected to hold a significant share of the digital twin market over the forecast period. With increasing industrialization in emerging economies such as India and China, the demand for digital twin technology is expected to significantly increase in the Asia Pacific region, leading to a robust market growth.