The protein bars market expected to grow at a CAGR of 5.9% during the forecast period from 2024 to 2032, starting from US$ 1,471.25 Mn in 2021. Consumers nowadays are more inclined towards using convenience and high-protein content food products. As per recent research studies, about 90% of Americans purchase convenience food.
The global electric vehicle traction motor market was stood at US$ 3.20 Bn in the year 2021 and predicted to reach US$ 76.82 Bn by the year 2032, expanding at a CAGR of 25.0% during the forecast from 2024 to 2032.
The growing use of smartphones, tablets, and the internet of things (IoT) has increased the networking infrastructures across the world. Further, with the launch of 5G technology, there will be exponential growth in the data in the future. The large amount of data generated by IoT creates huge network traffic. To manage and operate this data, enterprises are widely adopting network traffic analyzer tools. Rising usage of smartphones for online gaming and the increasing adoption of improved IT infrastructure in global IT companies will also drive the network traffic analyzer market.
The global intelligent virtual assistant (IVA) market was valued at US$ 5.9 Bn in 2021 and is projected to expand at a CAGR of 40.9% during the forecast period from 2024 to 2032. The developments made recently in the field of natural language processing, conversation interfaces, machine learning, and automation are factors proliferating the demand for intelligent virtual assistants.
The global skincare diagnostic & treatment devices market is increasing competently, projected to grow at a CAGR of 10.2%. Worldwide, growing skin diagnostic procedures along with minimally invasive treatment have significantly increased devices. Innovative product launches in the skincare industry, a high pool of individuals with numerous skin conditions and demand for skin rejuvenation are factors driving the overall growth of the skincare diagnostic & treatment devices market globally.
The global tax management market is increasing significantly, anticipated to expand at a CAGR of 12.3% during the estimated period from 2024 to 2032, starting from US$ 22.20 Bn in 2021. The global tax management market is majorly driven by the increasing financial transaction volume and rising tax rules & regulations worldwide.
The mounting focus on environmental sustainability has influenced the use of white cement across the globe. The growing use of white cement due to its heat-reflecting properties and beautiful appearance of artwork are driving the global white cement market in recent years. Moreover, white cement is currently an ideal choice for architectural works due to freedom of choice of colors, textures, shapes, sizes, and patterns to accommodate a multitude of applications that takes their artistic expression to a higher level.
The global ultracapacitor market was valued at US$ 2.24 Bn in the year 2021 and is expected to reach US$ 11.73 Bn by the year 2032, expanding at a CAGR of 16% during the forecast from 2024 to 2032. Ultracapacitor is an electrostatic energy storage device that stores energy by polarizing the electrolytic solution.
The global cryogenic equipment market is growing competently, expected to grow at a CAGR of 7.4% during the estimated period from 2024 to 2032, starting from US$ 20.27 Bn in 2021. Natural gas based cryogenic equipment market is expected to hold a market share of around 32% in 2021, thereby driving the market growth globally. In addition, substantial availability of natural gas across developing countries such as China, Argentina, India, along with abundant untapped reservoirs favored by the U.S. will boost the industry growth.
The global pulse ingredients market is expected to grow at a CAGR of 4.6% during the forecast period from 2024 to 2032, starting from US$ 18.01 Bn in 2021. The elevated trends for vegan and plant-based products are increasing the demand for pulse-based ingredients globally. Nowadays consumers are more inclined towards using pulse-based ingredients due to its inherent attributes for health benefits. For instance, from the year 2006 to 2016, about 4,900 pulse-based products were launched in North America region.
