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Smart Speaker Market is expected to reach $48.8 billion by 2031,

Meticulous Research®—a leading global market research company, published a research report titled, ‘Smart Speaker Market by Type (Display and Non-display), Audio Output Mode, Portability, Wattage, Distribution Channel (Online Retail and Offline Retail), Application (Personal Usage and Commercial Usage), and Geography - Global Forecast to 2031.’

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According to this latest publication from Meticulous Research®, the global smart speaker market is expected to reach $48.8 billion by 2031, at a CAGR of 18.6% from 2024–2031. By volume, this market is expected to reach 143.1 million units by 2031, at a CAGR of 3.6% from 2024–2031. The growth of the smart speaker market is driven by the growing number of smart homes, the proliferation of multifunctional devices, and the growing demand for voice-activated devices. However, connectivity range issues restrain the growth of this market.

The global smart speaker market is segmented by type (display and non-display), audio output mode (stereo and surround), portability (wired and wireless), wattage (up to 99W, 100W to 199W, 200W to 499W, 500W to 799W, and more than 800W), distribution channel (online retail and offline retail), and application (personal usage and commercial usage). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on audio output mode, the global smart speaker market is segmented into stereo and surround. In 2024, the surround segment is expected to account for the larger share of 77% of the global smart speaker market. This segment's significant market share can be attributed to the benefits offered by surround smart speakers, including hands-free interaction and the delivery of high-fidelity audio experiences. These features make surround smart speakers particularly appealing to audiophiles seeking a voice-controlled smart home speaker with exceptional sound quality. Moreover, continuous innovation in the tech sector is driving the development of advanced and affordable surround smart speaker options.

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Based on type, the global smart speaker market is segmented into display and non-display. In 2024, the non-display segment is expected to account for the larger share of the global smart speaker market. The segment’s large market share can be attributed to several factors, including the simplicity of manufacturing these types of speakers, which results in a lower price point. This affordability makes them accessible to a wider range of consumers, especially those who are budget-conscious. Additionally, these speakers excel at voice interaction, enabling a seamless hands-free experience, which is particularly appealing for multitasking or situations where using a phone or screen is inconvenient.

Based on application, the global smart speaker market is segmented into personal usage and commercial usage. In 2024, the personal usage segment is expected to account for the larger share of 89% of the global smart speaker market. The segment’s large market share can be attributed to the hands-free operation and voice control capabilities offered by smart speakers, enabling users to perform a wide range of tasks through voice commands. Furthermore, smart speakers have evolved beyond their traditional role of playing music, now facilitating functions like making calls, sending messages, setting reminders, shopping online, and providing news updates, making them indispensable devices for everyday use.

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Based on geography, the smart speaker market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 39% of the global smart speaker market. North America’s significant market share can be attributed to the growing consumer preference for convenience-oriented products. This region has been an early adopter of technologically advanced products, reflecting the willingness of consumers to embrace and integrate new technologies into their lives. This trend has, in turn, spurred manufacturers to innovate and develop increasingly advanced products. Furthermore, the U.S. and Canada stand out as leaders in technology adoption across various sectors. Additionally, North America benefits from the presence of major smart speaker providers and the widespread adoption of these devices, which further accelerates the growth of this regional market.

Key Players

The key players operating in the global smart speaker market include Apple Inc. (U.S.), Amazon.com, Inc. (U.S.), Bose Corporation (U.S.), Google LLC (U.S.), Harman International Industries, Inc. (U.S.), Baidu, Inc. (China), Sony Group Corporation (Japan), Sonos, Inc. (U.S.), Panasonic Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Lenovo Group Limited (China), SK Telecom Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Onkyo Corporation (Japan), and Xiaomi Corporation (China).

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Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis 

additive manufacturing market is poised to soar to unprecedented heights, anticipated to burgeon to a monumental $228.8 billion by the year 2031, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 27.9% from 2024 to 2031.

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The ascent of the additive manufacturing sector is propelled by an array of compelling forces, including the imperative to fabricate intricate components, slash manufacturing outlays, and curtail wastage. Additionally, advancements in product innovation and supply chain efficiency, coupled with the allure of seamless customization and mass production capabilities inherent in additive manufacturing, further catalyze this exponential growth trajectory. However, challenges loom in the form of limited build dimensions and the associated pre-processing and post-processing overheads, which could potentially dampen market expansion.

Yet, amidst these challenges lie untapped vistas of opportunity, particularly in the realms of 3D printing for functional end-use parts and the burgeoning domain of composite 3D printing. Nevertheless, concerns regarding intellectual property infringement and the scarcity of adept professionals threaten to impede the sector's growth.

Emerging trends paint a vivid picture of on-demand spare parts fabrication, heightened product personalization, and the integration of Artificial Intelligence (AI) into 3D printing workflows as prevailing themes in this dynamic landscape.

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Delving deeper, the global additive manufacturing market is intricately segmented into offerings encompassing hardware, software, materials (encompassing plastics, polymers, metals, ceramics, composites, and other material variants), and services. Moreover, delineations based on form ��� spanning solid, liquid, and powder material categories — offer nuanced insights into the market's multifaceted composition. End-user segmentation further elucidates the market dynamics, encompassing a gamut of sectors ranging from consumer products, healthcare, and automotive to aerospace & defense, electronics & semiconductors, and beyond.

Unveiling the market's intricate tapestry, the hardware segment emerges as the dominant force, commanding a lion's share exceeding 60.0% of the global additive manufacturing arena. This preeminence is fueled by a confluence of factors, including the decentralization of production, on-demand manufacturing paradigms, and the concomitant streamlining of supply chains. Noteworthy is the hardware segment's pivotal role in facilitating the realization of highly tailored, bespoke products across diverse industry verticals.

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Segmentation by form unveils a nuanced narrative, with solid materials dominating the landscape owing to their indispensable mechanical properties, whereas powder materials emerge as the harbinger of future growth, underpinned by their pivotal role in additive manufacturing processes.

Zooming out to a geographical perspective, Asia-Pacific emerges as the epicenter of additive manufacturing fervor, commanding a substantial share exceeding 36.0% of the global market. The region's ascendancy is underpinned by a confluence of factors, including burgeoning manufacturing activities, robust digitization initiatives, and a burgeoning startup ecosystem. Meanwhile, North America is poised to register the highest CAGR of 29.0%, propelled by the region's robust industrial landscape and a burgeoning appetite for customized 3D-printed products across diverse sectors.

Amidst this landscape of transformative change, key players including industry stalwarts such as 3D Systems Corporation, Arcam AB, Stratasys, Ltd., and a host of others stand at the vanguard, shaping the contours of tomorrow's manufacturing landscape through pioneering innovations and unwavering commitment to excellence.

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Thermoelectric Modules Market is projected to reach $1.46 billion by 2030

The Thermoelectric Modules Market is projected to soar to $1.46 billion by 2030, with a compound annual growth rate (CAGR) of 10.6% from 2023 to 2030. In terms of volume, the market is set to reach 1.26 billion units by 2030, growing at a CAGR of 11.4% during the forecast period. This growth is propelled by the increasing application of thermoelectric modules in electronic devices and the rising adoption of electric and luxury vehicles. However, the high manufacturing costs of thermoelectric modules compared to traditional heating and cooling systems are expected to pose a challenge to market expansion.

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Key Findings from the Market Study

Dominance of Thermoelectric Coolers in 2023

In 2023, thermoelectric coolers led the market, accounting for 61.4% of the global thermoelectric modules market by value. By volume, the thermoelectric coolers segment is anticipated to reach 691.75 million units by 2030, growing at a CAGR of 10.7% during the forecast period.

With cooling devices currently consuming nearly 20% of total electricity in buildings worldwide, the demand for space cooling is projected to rise dramatically. Global energy use for space cooling is expected to surge from 2,020 terawatt hours (TWh) in 2016 to 6,200 TWh by 2050. The significant electricity consumption for cooling results in substantial CO2 emissions from fossil fuels used in power generation. Thermoelectric cooling (TEC) emerges as a promising alternative, offering personalized cooling solutions. TECs, based on the Peltier effect, transfer heat from one side of the device to the other, providing several benefits over traditional cooling methods:

Performance unaffected by orientation

Thermoelectric coolers are environmentally safer and find applications in portable air/water refrigerators, electronic cooling, thermal management systems in medical devices, and water distillation. Their reliable, lightweight, and noiseless operation has gained significant consumer market attention.

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Thermoelectric Generators: The Fastest Growing Segment

While thermoelectric coolers currently dominate, the thermoelectric generators segment is set to record the highest CAGR of 11.6% during the forecast period. This growth is driven by the increasing demand for thermoelectric generators in the automotive sector, where they convert exhaust heat into electrical energy, enhancing engine efficiency.

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Regional Insights

Asia-Pacific: The Largest and Fastest Growing Market

Geographically, Asia-Pacific leads the thermoelectric modules market, accounting for 48.8% of the global market value in 2023. By volume, the region is projected to reach 739.78 million units by 2030, growing at a CAGR of 11.8%.

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The Asia-Pacific region boasts some of the world's strongest economies and has been at the forefront of technological advancements for over two decades. Countries such as Japan and Taiwan are major hubs for developing and manufacturing technical goods and consumer electronics. The rising demand for smart devices, homes, and offices has significantly bolstered the consumer electronics market, a trend expected to continue, further driving market growth.

Moreover, Asia-Pacific is the fastest-growing regional market for thermoelectric modules, driven by increased adoption of electric vehicles, the development of cold chains for food security, and advancements in healthcare technologies. Consequently, the demand for thermoelectric modules is escalating across various industries, including automotive, consumer electronics, medical, semiconductor, and defense.

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Europe Air Conditioners Market is projected to reach $46.8 billion by 2030

Meticulous Research®—leading global market research company, published a research report titled, ‘Europe Air Conditioners Market by Type (Split, Window, Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others), Technology (Inverter, Non-inverter), End User (Residential, Commercial, Industrial), and Geography - Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the Europe air conditioners market is projected to reach $46.8 billion by 2030, at a CAGR of 6% during the forecast period 2023–2030. The growth of the Europe air conditioners market is driven by increasing temperatures and humidity levels, consumers’ growing preference for convenience and comfort, and the rising demand for energy-efficient air conditioning systems. However, the high costs of air conditioners restrain the market’s growth.

The rising adoption of air conditioners with inverter and air purification technologies and technological advances in HVAC systems are creating growth opportunities for the players operating in this market. However, the high energy consumption of air conditioners limits their adoption, which is a major challenge for market stakeholders. Moreover, connected air conditioners and the emergence of solar photovoltaic (PV) and solar thermal-assisted air conditioning systems are prominent trends in this market.

Based on technology, the Europe air conditioners market is segmented into inverter ACs and non-inverter ACs. In 2023, the inverter ACs segment is expected to account for the larger share of the Europe air conditioners market. The segment’s large market share is attributed to advancements in inverter technology and AC manufacturers’ strong focus on product enhancement and the development of inverter-powered ACs. Moreover, the inverter ACs segment is also projected to register the higher CAGR during the forecast period.

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Based on rating, the Europe air conditioners market is segmented into 1 Star ACs, 2 Star ACs, 3 Star ACs, 4 Star ACs, and 5 Star ACs. In 2023, the 3 Star ACs segment is expected to account for the largest share of the Europe air conditioners market. The segment’s large market share is attributed to the benefits of 3 Star ACs, such as high energy efficiency and durable copper condenser coils that work on variable-speed compressors, coupled with AC manufacturers’ rising focus on developing energy-efficient ACs. However, the 5 Star ACs segment is projected to register the highest CAGR during the forecast period.

Based on end user, the Europe air conditioners market is segmented into residential end users, commercial end users, and industrial end users. In 2023, the residential segment is expected to account for the largest share of the Europe air conditioners market. The segment’s large market share is mainly attributed to the growing acceptance of smart home technologies, construction companies’ increased focus on offering air-conditioned apartments, and the rising need to improve indoor air quality. Moreover, the residential segment is also projected to register the highest CAGR during the forecast period.

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Based on geography, the Europe air conditioners market is segmented into the U.K., Germany, France, Italy, Spain, the Netherlands, Switzerland, Poland, Norway, Sweden, Denmark, Ireland, Russia, and the Rest of Europe (RoE). In 2023, Italy is expected to account for the largest share of the Europe air conditioners market. Italy’s large market share is attributed to the growing demand for residential air conditioners due to rising temperatures, the surging demand for space cooling, the increasing need for comfort, and growing income levels in the country. Furthermore, the rising demand for comfortable residential spaces and increasing ownership of residential apartments are encouraging consumers to install AC units. This trend is expected to support market growth in Italy during the forecast period.

Key Players:

The key players operating in the Europe air conditioners market are Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd.

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Feed Software Market is expected to reach $456.1 million by 2030

Feed Software Market by Type (Feed Formulation, Animal Simulation Model), Deployment Mode (On-premise, Cloud-based Software), Animal Type (Poultry, Ruminants, Aquaculture, Pet), End Users (Feed Manufacturers, Animal Farmers) - Global Forecast to 2030,’ the feed software market is expected to reach $456.1 million by 2030, at a CAGR of 6.2% from 2023 to 2030.

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The growth of this market is attributed to the adoption of digital technologies and automation in the animal feed industry, the growing animal population, increasing demand for healthy animal-based food products, increasing animal health expenditure and pet insurance, and the growing need to reduce feed production costs. Additionally, Integration with IoT and big data and emerging economies offer significant growth opportunities for feed software vendors. However, low animal health awareness in developing countries restrains feed software market growth.

The feed software market study is segmented based on type, deployment mode, animal type, end user, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the feed software market is segmented into feed formulation software, animal simulation model, and other types. In 2023, the feed formulation software segment is expected to account for the largest share of the feed software market. The large market share of this segment is attributed to increased animal feed production, high demand for customized feed for animals, and a rise in focus on feed production optimization.

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Based on deployment mode, the feed software market is segmented into on-premise software and cloud-based software. In 2023, the on-premise software segment is expected to account for the larger share of the feed software market. The on-premise deployment mode is commonly used for various tasks, including feed management, a high level of security in feed formulation, and complete control of users, which is attributed to the major share of this segment. However, the cloud-based software segment is expected to register the highest CAGR during the forecast period. Cloud-based feed software solutions are increasingly preferred due to their advantages, such as scalability, flexibility, and cost efficiency. Furthermore, these cloud-based systems offer real-time data access, making them ideal for businesses with multiple locations.

Based on animal type, the feed software market is segmented into poultry, ruminants, swine, aquaculture, pets, and other animal types. In 2023, the poultry segment is expected to account for the largest share of the feed software market. The huge demand for poultry feed due to the rising consumption of poultry meat and eggs and the increasing popularity of poultry products among fitness enthusiasts as the least expensive source of protein contributes to the large market share of the poultry segment.

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Based on end user, the feed software market is segmented into feed producers, animal farmers, nutritional professionals, consulting companies, veterinarians, and other end users. In 2023, the feed producers segment is expected to account for the largest share of the feed software market. Feed software helps producers create high-quality, consistent, cost-effective feed formulations while improving efficiency and ensuring compliance with regulatory requirements. The rising adoption of feed software by feed producers with growing demand for animal protein, increasing disposable income, and rising demand for safe & nutritious animal food production is attributed to the large market share of this segment.

Based on geography, in 2023, North America is expected to account for the largest share of the feed software market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to increasing investments by the major animal feed producers, increasing demand for high-quality animal feed coupled with the rapidly growing animal husbandry industry, and increasing adoption of digital technologies and automation in the animal nutrition sector.

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The key players operating in the feed software market are Adifo NV (Belgium), PrairiE Systems, LLC (U.S.), Cultura Technologies (Georgia), Bluestar Adisseo Company (China), Dhi Computing Service, Inc. (U.S.), Easy Automation, Inc. (U.S.), Landmark feeds, Inc. (Canada), Supervisor Systems (U.S.), AgroVision B.V. (Netherlands), MTech-Systems (Georgia), Feedlogic Corporation (U.S.), Cargill, Incorporated (U.S.), Dalex Livestock Solutions LLC (U.S.), Evonik Industries AG (Germany), Format Solutions, Inc. (U.S.), GLOBALVETLINK, L.C. (U.S.), Agentis Innovations Ltd (Cyprus), Animal Feed Formulation Software (U.S.), GEOSAN DEVELOPMENT s.r.o (South Korea), and Kemin Industries, Inc. (U.S.)

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Moringa Extract Market is projected to reach $10.65 billion by 2031

Meticulous Research®— leading global market research company, published a research report titled, ‘Moringa Extract Market by Type (Moringa Leaf Extract, Moringa Seed Extract, Moringa Bark Extract, Moringa Root Extract), Form (Powder, Liquid), Application (Food & Beverage, Cosmetics & Personal Care, Pharmaceuticals), and Geography - Global Forecast to 2031.’

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According to this latest publication from Meticulous Research®, the Global Moringa Extract market is projected to reach $10.65 billion by 2031, at a CAGR of 9.8% during the forecast period 2024–2031. The growth of this market is being propelled by factors such as the growing demand for natural & plant-based supplements, increasing health and wellness among consumers, and rising demand for natural and organic ingredients. However, the limited awareness about the benefits and uses of moringa extract and the lack of regulation and quality standards for moringa extract are factors restraining the growth of this market to some extent. The growing interest in moringa extract as a functional ingredient in the food and beverage industry is expected to generate market growth opportunities for the key players operating in this market. Furthermore, rising consumer preference for superfoods is a major trend in the moringa extract market.

Key Players

Some of the key players operating in the global moringa extract market are Medikonda Agro Farms Private Limited (India), Taiyo GmbH (Germany), Sabinsa Corporation (India), Botanic Healthcare Group (India), Phyto Life Sciences Private Limited (India), S.A. Herbal Bioactives LLP (India), Allpure Organics (India), Alpspure Lifesciences Private Limited (India), Himalayan Herbaria Inc. (India), Hunan New Mstar Biotechnology Co., Ltd. (China), Vedaoils Private Limited (India), and Victoriafalls Ingredients Pvt. Ltd (India).

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The global moringa extract market is segmented based on type (moringa leaf extract, moringa seed extract, moringa bark extract, and moringa root extract), by form (powder and liquid), by application (dietary supplements, food & beverage, cosmetics & personal care, pharmaceuticals, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the global moringa extract market is segmented into moringa leaf extract, moringa seed extract, moringa bark extract, and moringa root extract. In 2024, the moringa leaf extract segment is expected to account for the larger share of the global moringa extract market. The large market share of this segment is attributed to factors such as easy and abundant availability of raw materials and growing demand for moringa leaf extracts in various industries, including dietary supplements, pharmaceuticals, cosmetics, and food and beverages. Moreover, rising awareness about the nutritional and health benefits of moringa leaf extracts, as it is rich in vitamins, minerals, and antioxidants, and the inclination of consumers towards natural and organic food products to maintain health and fitness are further expected to drive the demand for moringa leaf extract across the globe.

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Based on application, the global moringa extract market is segmented into dietary supplements, food & beverage, cosmetics & personal care, pharmaceuticals, and other applications. In 2024, the dietary supplements segment is expected to account for the largest share of the global moringa extract market. The large market share of this segment is attributed to the growing global dietary supplements industry and increasing demand for natural and plant-based ingredients in the dietary supplements industry. Moreover, rising consumer awareness regarding the benefits of moringa-based supplements, increasing consumer focus on health and wellbeing, and increasing focus on preventive healthcare is further expected to drive the growth of the moringa extract market for dietary supplements.

Based on geography, the global moringa extract market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is slated to register the highest CAGR during the forecast period of 2024–2031. The fast growth of this region is mainly attributed to the increasing demand for moringa extracts among several industries due to the rising awareness among consumers regarding the benefits of natural-derived extracts such as moringa. Moreover, factors such as the rapidly growing dietary supplement industry, growing consumer preference for superfoods, increasing health-conscious consumers, increased focus on preventive healthcare, and a growing vegetarian population are further expected to support the high growth of the moringa extract market in North America.

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