Micro Markets

  Immigration Services  Procurement Intelligence The immigration services category is anticipated to grow at a CAGR of 5.8% from 2023 to 2030. Over the last two years, the number of international immigrants in Europe and Asia has increased significantly despite travel restrictions. The period between June 2021 and June 2022 has been noteworthy for a variety of reasons. Record levels of immigration in the U.K. have been attributed to a number of factors, including the lifting of lockdown restrictions in the U.K., the first 18 months period after the U.K.'s exit from the EU, the Russian-Ukraine war, a fresh visa route for British citizens living in Hong Kong (overseas), and the resettling of Afghan refugees. According to the U.K. Home Office Department estimates in 2022, more than 1.1 million people have immigrated to the U.K. between June 2021 and June 2022. During the same period, almost 89,000 people entered the country on account of Ukrainian Visa schemes. The demand for imm...

  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 w...

  Third-Party Logistics (3PL)  Procurement Intelligence The global 3PL services category is expected to register a CAGR of 10.7% from 2022 to 2030. In 2022, North America accounted for 35% of the market share followed by Europe and APAC. The APAC market is projected to grow fastest during the forecast period. The increase in online shopping along with the increasing demand for next-day delivery has forced logistics service providers to switch to automated systems and robots in warehouses across the world. Logistics service providers are constantly upgrading their technology to meet the rising consumer demand and improve efficiency & productivity. To minimize errors and optimize warehouse space, many companies have started using Automated Guided Vehicles (AGVs) and cobots alongside humans to perform tasks, such as packing, sorting, loading, and unloading. Artificial Intelligence (AI) and Machine Learning (ML) technologies are used to enhance the automation capabilities of r...

  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...

  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...

Employee Relocation Procurement Intelligence The employee relocation category is expected to grow at a CAGR of 1.2% from 2023 to 2030. With the return to normalization in the post-pandemic period, many employees are willing to relocate for the right position. The foremost considerations include the cost of living, housing expenses, availability of housing, as well as safety and security. These factors are closely followed by the convenience of residing, working, and engaging in recreational activities without enduring extended commutes. The desire for an enhanced quality of life continues to motivate relocations. Above all, prospective staff need assurance that they will find equivalent or superior advantages in their new locale. Companies are progressively emphasizing the establishment of diverse and all-encompassing work environments. This trend is fueling the need for relocation services aimed at facilitating employees’ transfers to different locales while safeguarding their ind...

  Finance and Accounting Outsourcing Procurement Intelligence The finance and accounting outsourcing category is expected to grow at a CAGR of 6% from 2023 to 2030. Companies are concerned about data security and depend more on outsourcing partners for their financial operations. In 2023, the companies emphasized a strong focus on cybersecurity protection and severe attention to data privacy guidelines. Modern security protocols are being used by outsourcing service providers to protect sensitive financial data from online attacks. The demand for data security in this category is driving the market growth. There is a growing emphasis on regulations and compliance, which has an impact on the financial and accounting landscape. Outsourcing providers put significant focus on ensuring the competence of national and international financial regulations such as ISO 27001, Payment Card Industry Data Security Standard (PCI DSS), etc. while remaining fully compliant with compliance standards...

  Iron Casting  Procurement Intelligence The iron casting category is anticipated to grow at a CAGR of 6.1% from 2023 to 2030. Rapid industrialization has boosted the utilization of the category in various industries such as construction, industrial machinery, and automotive industries, which is driving the growth of the category. Iron casting is utilized in the production of parts such as gearbox cases, suspension parts, engine blocks, brake parts, and others. Additionally, the demand for the category products is rising due to their durability, high strength, and cost-effectiveness which is also anticipated to drive the category growth over the coming years. Order your copy of the Iron Casting 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 Iron Casting Procurement Intelligence Repor...

  Commercial Print Services Procurement Intelligence The commercial print services category is expected to grow at a CAGR of 2.8% from 2023 to 2030. APAC accounts for the largest share of the category. The increasing use of printing technology for promotional activities, as well as the growing acceptance of digital printing, are driving category growth. Companies are focusing on adopting various strategies such as investments, partnerships, and mergers & acquisitions. For instance, in November 2022, Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a marketer of printing and packaging applications for industrial and commercial use, announced that it had entered into a partnership with Elastic Path to enhance its B2B commerce experience by implementing and optimizing a multi-vendor approach. Print-on-demand (POD) is a business model that enables product customization and order-by-order sales. It is also an environmentally sustainable model. To lessen its infl...

  HVAC Systems Procurement Intelligence The global HVAC systems category is expected to grow at a CAGR of 6.3% from 2023 to 2030. Office buildings and high-rise structures are increasingly using HVAC systems to control the temperature within the buildings. As a result of growing environmental concerns, there is a rising trend for green buildings, which is in turn expected to drive category growth. In APAC and the Middle East region, the demand for HVAC systems for residential purposes is growing due to its hot climate conditions. The growing number of building permits and enhanced designs in construction are driving the demand for AC. The shift of HVAC system maintenance from reactive to predictive maintenance is enabled by the use of IoT technology. Predictive maintenance lengthens the lifespan of the HVAC system while lowering labor and maintenance costs. The traditional Building Management System (BMS) is made up of various subsystems that are installed inside a building of...