The global DSL tester market is growing competently, anticipated to grow at a CAGR of 6.4% during the projected period from 2024 to 2032, starting from US$ 1.25 Bn in 2021. The growing usage of the internet today’s life is swiftly fuelling the growth of the DSL tester market globally. Rise in population and increasing technological developments in the arena of the internet is driving the demand for digital subscriber line (DSL) among internet service suppliers.
The global tea-based skin care products market is expected to grow at a CAGR of 7.3% during the estimated period from 2024 to 2032, starting from US$ 201.4 Mn in 2021. The alliance among Ayurveda, cosmetics and anti-aging is gaining popularity in industries such as health, wellness and beauty. As per the Euromonitor International’s report, consumers are being continuously inclining towards age-prevention products. Thereby, increasing the demand for tea-based skin care products globally.
The global smart plantation management systems market is growing competently, expected to grow at a CAGR of 6.0% during the estimated period from 2024 to 2032, starting from US$ 1.48 Bn in 2021. Rising adoption towards new technologies like cloud computing and the internet of things (IoT) coupled with the introduction of the robotic system. Technological development like the use of electronic systems and data transmission introduced essential changes to the agricultural working environment in recent years.
The global digital utility market accounted for US$ 191.04 Bn in 2021 and is anticipated to grow to US$ 515.24 Bn growing at a CAGR of 11.7% throughout the forecast period from 2024 to 2032. Using digital technology as an enabler of change aids utility companies to transform to new energy systems. The growth of digital utility market is driven by factors including strict environmental regulations and increase in renewable energy sector and renewable integration among others.
The global hydrogen generation market value surged from US$ 121.6 Bn in the year 2018 and expected to reach US$ 228.9 Bn by year 2027, expanding at a CAGR of 7.3% during the forecast from 2019 to 2027. Hydrogen has unique capabilities and significant potential in low carbon energy future due to its abundance in the earth’s atmosphere and lightest of all elements. Its potential in a low carbon energy future is largely driven by three characteristics. First, efficient energy carrier and storage medium due to high specific energy content by weight. Second, the combustion of hydrogen produces only water and heat.
Trace chemical detector (TCD) is widely used in a number of industries such as defense & security, chemical & pharmaceutical, oil & gas, and healthcare & research. Predominantly, a trace chemical detector is essential for contamination analysis, chemical composition analysis, elemental trace analysis, impurities analysis, trace metal analysis, etc. To keep the surrounding, product, and people safe from any chemical ill-effect, these industries primarily use trace chemical detectors. The growing need of TCD from the above-mentioned industries is driving the global trace chemical detector market with a CAGR of 6.1% from 2024 to 2032.
The global waste management equipment market is expected to grow at a CAGR of 4.0% during the estimated period from 2024 to 2032, starting from US$ 12.76 Bn in 2021. Waste management is a major problem that world is facing irrespective of developed or developing economy. Increasing population led to tremendous degradation with respect to waste thereby requires various waste management systems. Additionally, as per the recent survey conducted by World Bank suggests that, about 1.3 billion tons of waste is being generated globally.
The global optocoupler IC market is expanding significantly, anticipated to surge at a CAGR of 5.9% during the estimated period from 2024 to 2032, starting from US$ 2.05 Bn in 2021. The optocoupler IC market is majorly driven by the rapid increase in the adoption of electric vehicles worldwide and the growing penetration of smart home devices. In 2018, the global smart home market was valued at around US$ 80 Bn and expected to grow with a CAGR of approximately 15% in years to come.
The global blockchain IoT market value surged from US$ 105.3 Mn in the year 2021 to US$ 25,560.3 Mn in 2032, with a CAGR of 60.6% during the forecast from 2024 to 2032. Increasing deployment of Internet of Things (IoT) devices worldwide has triggered a sense of data security. Traditional architecture of client-server is vulnerable to security breach due to single-point security intelligence. On the other hand, blockchain distributed ledger technology provides distributed and decentralized security system that is hard to break.
The global grid-scale battery market is growing competently, expected to grow at a CAGR of 20.0% during the estimated period from 2024 to 2032, starting from US$ 3.55 Bn in 2021. Grid-scale battery storage systems will play a vital role in aiding the next stage energy transition towards renewable systems. The battery storage systems offer grid services like regulation reserves, frequency response, and ramp rate control.
