Globally, the hardware security module (HSM) market is expected to grow with a CAGR of 13.30% during the forecast period from 2024 to 2032 and had registered a market value of US$ 1039.86 Mn by 2021. A hardware security module (HSM) is defined as a dedicated crypto processor, which is designed for a secure crypto key lifecycle. Hardware security modules protect the cryptographic infrastructure of various organizations globally by managing and processing the data securely, tamper-resistant devices and also stores cryptographic keys inside a hardened.
Globally, the gaming hardware market is expected to grow with a CAGR of 7.2% during the forecast period from 2024 to 2032. The market is propelled by the increasing number of gamers across the globe. Over the past decade, the number of gamers, including serious gamers, enthusiast gamers and casual gamers, has increased significantly.
Technological up-gradation in RADAR system has widen its application in multiple sectors such as aviation, automotive, marine and meteorology etc. RADARs are increasingly deployed for air traffic control, remote sensing and ground traffic control. Additionally, increase in sea-trade among countries of the world and rising number of travel by ships has further influenced the demand for RADAR across the globe.
Globally, the facilities management market is expected to grow with a CAGR of 13.60% during the forecast period from 2024 to 2032 and had registered a market value of US$ 48.54 Bn by 2021. Facilities management is defined as an organizational functioning, which integrates the premises, individuals, and process within a facility to improve the productivity of the core business.
The air fryer market worldwide is expected to raise with a CAGR of 6.7% during the forecast period from 2024 to 2032, starting from US$ 806.5 Mn in 2021. Rising awareness for eating healthy food and growing kitchen appliances market worldwide are the key growth factors for air fryer market. Growing inclination towards low-oil food has led the market demand for air fryer.
The global air conditioning and refrigeration compressors market was valued at US$ 22.96 Bn in 2021 and is expected to expand at a CAGR of 3.7% throughout the forecast period from 2024 to 2032. Air conditioning and refrigeration compressors is a key component of any air conditioning and refrigeration systems, from a small mini-split air conditioner to the largest commercial system.
The global companion animal health market is likely to witness growth, with a CAGR of 6.0% across the forecast period from 2024 to 2032. With the rising companion animal ownership population, owners are concerned about companion animal health and nutrition, and thereby seeking various veterinary services.
In 2021, the global commercial vehicles market was estimated at US$ 1.18 Tn and is expected to grow at a CAGR of 6.2% throughout the forecast period from 2024 to 2032. Development of the global economy, expansion of logistics industry, and improved road infrastructure globally are the major key factors for global commercial vehicles market growth.
The procurement outsourcing services market worldwide is expected to grow with a CAGR of 15% during the forecast period from 2024 to 2032. Procurement outsourcing services refers to a process in which a company appoints an external service provider to manage the primary and secondary or other transactions of the company. Therefore, it helps the company to reduce its operational costs, increase savings and thereby improve business.
The mobile accelerator market is expected to grow with a CAGR of 23.5% during the forecast period from 2024 to 2032, up from US$ 2.31 Bn in 2021. Enhancement of digital environment and penetration of technology are the major growth driving factors for the market.
