Micro Markets

  Electric Vehicles (EVs) Procurement Intelligence The electric vehicles (EVs) category is anticipated to witness growth at a CAGR of 18.0% from 2023 to 2030. In 2022, Asia Pacific accounted for 51% of the market share followed by North America and Europe. Asia Pacific is the most lucrative region in terms of revenue as there’s an upsurge in the adoption of EVs particularly in China, India, and Japan. In addition, due to the easier availability of battery raw materials and lower production costs, several key players are eyeing China to set up their manufacturing facilities. Leading markets such as China, the US, and Germany are spending heavily on EVs, charging infrastructure, and research & development for effective charging technologies, longer-range EVs, and more affordable batteries. In addition, stricter government rules across the globe are one of the key factors driving up demand for EVs. For instance, the European Union has set a goal of achieving net-zero emission...

  Industrial Motor  Procurement Intelligence The industrial motor category is anticipated to grow at a CAGR of 4.9% from 2023 to 2030. The rising demand for EVs, industry 4.0, IE4 competent low voltage motors for energy savings and VFD boosting IE2/IE3 AC LV motor efficiency are driving the category growth. As industry 4.0 is rising, the world of electric motors is anticipated to see various changes. Additionally, due to the rising robotics technology, manufacturers are focusing on electric motor engineering to keep up with the robotics designs. Industrial motors are categorized as AC and DC motors. Brushless DC motors are used in conveyors, extrudes, aircraft, automobiles, elevators, and all other speed control applications. AC (alternating current) motors are widely used in industrial motors. Order your copy of the Industrial Motor category procurement intelligence report 2023-2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfol...

  Construction Services Procurement Intelligence The construction services category is expected to grow at a CAGR of 11.8% from 2023 to 2030. With technological advancements in the construction process, rising investments by governments toward economic infrastructural development, and green building initiatives, the construction industry has evolved which has resulted in rising construction services. Service providers are focusing on adopting new technologies such as 3D printing, Augmented Reality (AR), Virtual Reality (VR), helmet revolution, and various construction software. Hard hats have been one of the trends around construction sites for the safety of workers. For instance, HexArmor developed a helmet, Kinetix, which could reduce the impact by up to 40% on the head and neck. The construction sector, like numerous other industries, is experiencing a significant transformation through IoT technology. By integrating connected devices, machines, and sensors, construction si...

  Big Data Procurement Intelligence The big data category is expected to grow at a CAGR of 12.7% from 2023 to 2030. North America accounts for the largest share of the category. The increasing demand for advancement in technology and increasing data generation in the business are boosting growth. Companies are focusing on adopting technology for boosting revenue and consumer base. For instance, in March 2022, Microsoft launched Azure Health Data Services, a cloud-based platform that combines health data and supports transactional and analytical workloads. It also powers artificial intelligence applications and protects protected health information (PHI). Apache Hadoop is an open-source software framework that allows for the distributed storage and processing of large datasets. Hadoop breaks down large datasets into smaller chunks that can be stored and processed on multiple computers in parallel. This allows Hadoop to efficiently store and process large datasets that would be ...

  Employee Training Services Procurement Intelligence The employee training services category is expected to grow at a CAGR of 8% from 2023 to 2030. North America is the leading market for corporate training, accounting for 43% of the global market. This is due to the presence of large corporate MNCs and giant IT organizations in the region. These companies invest heavily in corporate training to improve the work-life balance and efficiency of their employees. Europe and Asia Pacific regions are expected to grow at the fastest CAGR in the coming years. This is due to the increasing startup culture and the setup of new companies in these regions. These new companies will require corporate training for their employees to ensure that they have the necessary knowledge and skills to succeed. Established players are investing considerably in the development and bolstering of their training programs to secure increased employee retention and improve brand recognition. Collaboration with e...

  Employee Benefits Procurement Intelligence The employee benefits category is expected to grow at a CAGR of 4.5% from 2023 to 2030. North America accounts for the largest share of the category. The increased competition among employers to hire and retain talent along with increasing focus on maintaining work-life balance among employees are driving category growth. Major corporations are employing various strategies, such as mergers and acquisitions, strategic partnerships and contracts, and the development, testing, and release of new products. For instance, in August 2023, TA Associates and Warburg Pincus to expand its role as a pan-European leader in digital employee benefits solutions purchased Epassi Group, a provider of employee benefits. Companies often provide employees with lunch and breakfast coupons so they may easily purchase meal packages. Employee meal cards will be in demand because of this aspect. Additionally, the prevalence of job-hopping is rising, which is...

E-commerce Fulfillment Services  Procurement Intelligence The e-commerce fulfillment services category is expected to grow at a CAGR of 13.9% from 2023 to 2030. The increased number of online shoppers, particularly in emerging economies, and the proliferation of the e-commerce industry are driving the industry significantly. In addition, the rise in the number of e-commerce startups and the growth of small & medium-sized businesses across the globe has supported the market players in gaining momentum over the years. In 2022, the global market was dominated by the e-commerce shipping fulfillment service segment as the policies of trade liberalization and the agreements governing cross-border shipments have led to an expansion in trade and shipping. Order your copy of the E-commerce Fulfillment Services category procurement intelligence report 2023-2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strat...

  Hibiscus  Procurement Intelligence The hibiscus category is anticipated to grow at a CAGR of 5% from 2023 to 2030. The category demand is mainly driven by the increasing usage in the food and beverages industry. According to the 2022 food and beverage flavor trends report, hibiscus is noted as one of the trending flavors, with its presence on menus increasing by 25% from Q2 2018 to the corresponding period in 2021. Hibiscus, a versatile plant with numerous health advantages, presents a wealth of possibilities for product innovation and ingredient creation within this industry, which continually adapts to shifting healthcare trends and evolving consumer preferences. In recent years, there has been growing interest in hibiscus as a functional ingredient. Extract from this flower can contribute to reducing blood pressure, enhancing lipid profiles, lowering bad cholesterol levels, and delaying the absorption of sugar into the bloodstream. Order your copy of the Hibiscus category...

  Clinical Trial Imaging Services Procurement Intelligence The clinical trial imaging services category is anticipated to grow at a CAGR of 8.05% from 2023 to 2030. North America holds the largest category share at about 41%. The rising number of Contract Research Organizations (CROs) along with biotechnology and pharmaceutical companies, the increasing presence of chronic health diseases among the population, the development of innovative imaging techniques, and rising R&D investment to develop new drugs and therapies are some of the key factors driving the growth. Order your copy of the Clinical Trial Imaging Services category procurement intelligence report 2023-2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis Clinical Trial Imaging Services Procurement Intelligence Report Scope The Clinical Trial Imaging Services category ...

  Artificial Intelligence Procurement Intelligence The artificial intelligence category is expected to grow at a CAGR of 38.1% from 2023 to 2030. North America accounts for the largest category share. The increasing demand for digital processes in businesses is boosting growth. Companies are focusing on adopting technology for better decision-making procedures and data transparency. For instance, in November 2022, Fractal introduced Asper.ai, an Al product for the industrial, consumer products, and retail industries. The system provides a complete Al product, integrating inventory optimization, demand planning, strategic pricing, and positioning. Augmented analytics uses artificial intelligence (AI) and machine learning (ML) to improve human capacity to engage with data on a contextual level. It makes it easier for users to explore and analyze data by automating various aspects of data preparation, insight generation & interpretation. Order your copy of the  Artificia...