The market for plant-based eggs has gained momentum in recent years because of the increased consumer demand for cruelty-free, environmentally friendly, and health-savvy eggs alternatives to conventional eggs. Plant-based eggs, which include substitutes for the increasingly popular traditional egg form: plant protein, tend to become popular in developing parts of the world day by day, such as the veganized, environmental, and awareness-raising proportionate developments over the moral dilemmas related to animal agriculture. Further, the increasing population of vegans globally has also influenced many companies to provide plant-based eggs. For instance, according to data from 2022, 1.3% of Italians were vegans, however by 2024, that number had increased to 2.3%.
Figure 1: Percentage of Vegan Population in Italy, 2022 to 2024
Source: World Animal Foundation
Top companies in the plant-based eggs market
- Eat Just (formerly Hampton Creek)
- Impossible Foods
- The Every Company (formerly Clara Foods
- Vegg
- Follow Your Heart
Let’s discuss each in detail.
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Eat Just (formerly Hampton Creek)
Eat Just: The Original Plant-Based Egg Brand through Just Egg-The-premium Brand in Transforming the Industry. Just Egg, a mung bean-based liquid egg substitute, was launched in 2017 by the US-based company. Just Egg replicated not only the flavour of scrambled eggs but also emulated scrambled eggs’ internal texture, but was environmentally friendly and cholesterol-free, unlike regular eggs. It is what makes the company successful because it has been able to deliver its fine products in the kitchen and outside the kitchen. Just Egg has quickly become a household name in retail and supply across North America, Europe, and Asia, with thousands of supermarkets and food service outlets now serving it.
Eat Just doesn’t want to change the food chain entirely, but this plant-based egg product promises to reduce the damage that animal husbandry has done to the environment. Compared to real eggs, Just Egg uses 98% less water, occupies 83% less land, and generates 93% fewer greenhouse gases. Moreover, the company has launched a foldable “Just Egg” breakfast sandwich patty in its plant-based egg line of products. Eat Just is also working on different innovative formulations that could eventually be used to target other niches within the egg market, including vegan omelettes and egg whites.
Impossible Foods has risen to prominence as a plant-based egg manufacturer in addition to making fantastic plant-based burgers. ImpossibleTM Sausage Made from Plants, the company’s plant-based egg product line, debuted in 2020. It has good plant-based egg offerings for breakfast. They have other main products, which include their headlining Impossible Burger. Moreover, they play a significant role in the larger plant protein and egg market because of their continuous innovation in plant-based goods and the attention they give to making the world of food more sustainable.
It created ingredients that mimic the taste and texture of food derived from animals with its high-end food science. Soy protein, the primary ingredient of Impossible Sausage, is mixed with plant-based lipids and seasonings to taste and feel like eggs. Their development involves interfacing concepts that will be able to persuade the consuming public with more convenience and attractiveness to plant-based nutrition, which sounds optimistic for their prospects concerning the plant-based eggs market.
Another artistically inclined player in the plant-based egg business is The Every Company, formerly known as Clara Foods. This Boston-based biotech company uses fermentation technology to extract animal-free egg whites. It focuses on creating egg proteins without the employment of chickens. “This technique, its application to the yeast or other microbes-modifies such yeast or microbes to develop proteins identical to those found in conventional eggs, makes up the foundation of the egg proteins obtained by the company”-as is found in the Egg-protein related proteins by The Every Company, or so to say.
The Every Company focuses on food security, animal welfare, and minimizing the environmental impact of egg production through chicken-free egg production. The egg white products are found in diverse applications such as protein smoothies, baked food, and other processed foods. The platform of The Every Company can be modified to create several other types of proteins, widening the market opportunity for plant and alternative proteins. The Every Company is here to play a big part in the development of plant-based egg substitutes in the future, owing mostly to valuable investor support, including from the most recognizable figures in the food industry.
The Vegg is a company that has put itself on the map with its revolutionary work in creating a plant-based egg alternative, The Vegg. The Vegg products themselves are primarily composed of nutritional yeast, chickpea flour, and spices to replicate eggs as closely as possible, flavour-wise, texture-wise, and functionally with baking and cooking. The original product, Vegg Powder, can be reconstituted into scrambled eggs and is an ideal vegetable egg yolk for vegan omelettes, French toast, and other applications calling for a runny egg.
Vegg’s new take on the plant-based egg is targeted specifically at consumers who want to imitate the kind of cooking with eggs and alternative options. Both the in-home recreational cooks and the strictly vegan chefs use the company’s products, which makes it more appealing to the audience because of its versatility in the kitchen. Vegg just keeps on churning out new goodies to meet the growing demand for plant-based replacements.
Follow Your Heart is a well-recognised name in plant-based alternatives that has entered the dairy-free cheese and eggless egg market. Their plant-derived egg offerings boast Just Scramble and other egg-free products. However, their Vegenaise and Just Mayo are very much entrenched within vegan households. These egg-free products are marketed as an alternative to scrambled eggs, omelettes, and oven-baked dishes with eggs in the ingredients section of the culinary preparation process.
Moreover, Follow Your Heart has led their fervent following among vegans and vegetarians, and now plant-based eggs have already been embraced by many leading supermarkets and popular restaurants. Given pure ingredients and sustainably engineered nature, Follow Your Heart is indeed going to be a serious contender in the plant-based egg market, benefiting from this growing trend among consumers toward a plant-based diet.
Conclusion
The market for plant-based eggs is developing at a remarkable rate, with several businesses pushing the limits of sustainability and innovation. From leading, popular brands such as Eat Just and Impossible Foods to small, specialised startups like Vegg and The Every Company, the market is bursting with innovations. These companies and others will likely play a major role in determining the future of egg substitutes as consumer preference has shifted toward plant-based and sustainable food alternatives. The market for plant-based eggs is going to continue to grow and innovate in the years to come, thanks to advances in food technology, increased investments, and growing consumer demand.
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Top Companies in the Plant-Based Eggs Market: Pioneers and Innovators to Watch
Thought ArticlesThe market for plant-based eggs has gained momentum in recent years because of the increased consumer demand for cruelty-free, environmentally friendly, and health-savvy eggs alternatives to conventional eggs. Plant-based eggs, which include substitutes for the increasingly popular traditional egg form: plant protein, tend to become popular in developing parts of the world day by day, such as the veganized, environmental, and awareness-raising proportionate developments over the moral dilemmas related to animal agriculture. Further, the increasing population of vegans globally has also influenced many companies to provide plant-based eggs. For instance, according to data from 2022, 1.3% of Italians were vegans, however by 2024, that number had increased to 2.3%.
Figure 1: Percentage of Vegan Population in Italy, 2022 to 2024
Source: World Animal Foundation
Top companies in the plant-based eggs market
Let’s discuss each in detail.
Eat Just (formerly Hampton Creek)
Eat Just: The Original Plant-Based Egg Brand through Just Egg-The-premium Brand in Transforming the Industry. Just Egg, a mung bean-based liquid egg substitute, was launched in 2017 by the US-based company. Just Egg replicated not only the flavour of scrambled eggs but also emulated scrambled eggs’ internal texture, but was environmentally friendly and cholesterol-free, unlike regular eggs. It is what makes the company successful because it has been able to deliver its fine products in the kitchen and outside the kitchen. Just Egg has quickly become a household name in retail and supply across North America, Europe, and Asia, with thousands of supermarkets and food service outlets now serving it.
Eat Just doesn’t want to change the food chain entirely, but this plant-based egg product promises to reduce the damage that animal husbandry has done to the environment. Compared to real eggs, Just Egg uses 98% less water, occupies 83% less land, and generates 93% fewer greenhouse gases. Moreover, the company has launched a foldable “Just Egg” breakfast sandwich patty in its plant-based egg line of products. Eat Just is also working on different innovative formulations that could eventually be used to target other niches within the egg market, including vegan omelettes and egg whites.
Impossible Foods has risen to prominence as a plant-based egg manufacturer in addition to making fantastic plant-based burgers. ImpossibleTM Sausage Made from Plants, the company’s plant-based egg product line, debuted in 2020. It has good plant-based egg offerings for breakfast. They have other main products, which include their headlining Impossible Burger. Moreover, they play a significant role in the larger plant protein and egg market because of their continuous innovation in plant-based goods and the attention they give to making the world of food more sustainable.
It created ingredients that mimic the taste and texture of food derived from animals with its high-end food science. Soy protein, the primary ingredient of Impossible Sausage, is mixed with plant-based lipids and seasonings to taste and feel like eggs. Their development involves interfacing concepts that will be able to persuade the consuming public with more convenience and attractiveness to plant-based nutrition, which sounds optimistic for their prospects concerning the plant-based eggs market.
The Every Company
Another artistically inclined player in the plant-based egg business is The Every Company, formerly known as Clara Foods. This Boston-based biotech company uses fermentation technology to extract animal-free egg whites. It focuses on creating egg proteins without the employment of chickens. “This technique, its application to the yeast or other microbes-modifies such yeast or microbes to develop proteins identical to those found in conventional eggs, makes up the foundation of the egg proteins obtained by the company”-as is found in the Egg-protein related proteins by The Every Company, or so to say.
The Every Company focuses on food security, animal welfare, and minimizing the environmental impact of egg production through chicken-free egg production. The egg white products are found in diverse applications such as protein smoothies, baked food, and other processed foods. The platform of The Every Company can be modified to create several other types of proteins, widening the market opportunity for plant and alternative proteins. The Every Company is here to play a big part in the development of plant-based egg substitutes in the future, owing mostly to valuable investor support, including from the most recognizable figures in the food industry.
The Vegg is a company that has put itself on the map with its revolutionary work in creating a plant-based egg alternative, The Vegg. The Vegg products themselves are primarily composed of nutritional yeast, chickpea flour, and spices to replicate eggs as closely as possible, flavour-wise, texture-wise, and functionally with baking and cooking. The original product, Vegg Powder, can be reconstituted into scrambled eggs and is an ideal vegetable egg yolk for vegan omelettes, French toast, and other applications calling for a runny egg.
Vegg’s new take on the plant-based egg is targeted specifically at consumers who want to imitate the kind of cooking with eggs and alternative options. Both the in-home recreational cooks and the strictly vegan chefs use the company’s products, which makes it more appealing to the audience because of its versatility in the kitchen. Vegg just keeps on churning out new goodies to meet the growing demand for plant-based replacements.
Follow Your Heart
Follow Your Heart is a well-recognised name in plant-based alternatives that has entered the dairy-free cheese and eggless egg market. Their plant-derived egg offerings boast Just Scramble and other egg-free products. However, their Vegenaise and Just Mayo are very much entrenched within vegan households. These egg-free products are marketed as an alternative to scrambled eggs, omelettes, and oven-baked dishes with eggs in the ingredients section of the culinary preparation process.
Moreover, Follow Your Heart has led their fervent following among vegans and vegetarians, and now plant-based eggs have already been embraced by many leading supermarkets and popular restaurants. Given pure ingredients and sustainably engineered nature, Follow Your Heart is indeed going to be a serious contender in the plant-based egg market, benefiting from this growing trend among consumers toward a plant-based diet.
Conclusion
The market for plant-based eggs is developing at a remarkable rate, with several businesses pushing the limits of sustainability and innovation. From leading, popular brands such as Eat Just and Impossible Foods to small, specialised startups like Vegg and The Every Company, the market is bursting with innovations. These companies and others will likely play a major role in determining the future of egg substitutes as consumer preference has shifted toward plant-based and sustainable food alternatives. The market for plant-based eggs is going to continue to grow and innovate in the years to come, thanks to advances in food technology, increased investments, and growing consumer demand.
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How Efficient Battery Cooling Systems Are Shaping the Future of Electric Vehicles
BlogA battery cooling system is defined as a way of controlling the temperature of an electric vehicle (EV) during performance or while charging. The battery charging method serves effectively in improving the life of an EV battery while also increasing performance with quick charge time. Battery cooling in an EV is a key area in designing and operating its systems since it is vital to keep a favorable temperature range for battery cells to achieve optimum performance, longevity, and safety. Three main kinds of EV battery cooling systems are present in the market: air, liquid, and fan. Various types of EV battery cooling systems apply to different classes of vehicles, including battery electric vehicles, hybrid-electric vehicles, and plug-in hybrid electric vehicles.
The growth of the global EV battery cooling industry is projected to be driven by increased consumer acceptance of EVs, rising safety concerns about EV batteries, advancements in cooling technology that reduce the heat more efficiently than traditional air cooling, and other encouraging government initiatives related to clear transportation strategies indirectly leading to rise in necessity of battery cooling systems which is driving the market growths of EVs.
This EV battery cooling demand is chiefly driven by the escalating requirement for thermal management of batteries in EVs and the shift towards using EVs as a means to have a greener world and improved technology, which are all setting favorable conditions for market growth while creating opportunities for efficient battery cooling systems. International Energy Agency (IEA) predicted in their report regarding global forecasts for emerging EVs projected in 2023 that the market is going to see potential growth in 2024, where sales would be over 20 percent higher than that of 2023, with EVs likely to account for more than one-fifth of the total market sales.
According to the report “Trends in Electric Cars,” IEA 2023 estimated that registrations of BEVs increased from 7.3 million in 2022 to 9.5 million in 2023 while PHEVs increased from 2.9 million in 2022 to 4.3 million in 2023 globally. Since the world is rapidly moving toward EVs, a more sophisticated battery cooling system is vital for accelerating the acceptance of EVs around the globe in the future.
Figure 1: Increase in Electric Vehicle Registration in the World, in Million, in 2022 and 2023
Source: International Energy Agency (IEA)
Furthermore, the IBEF statement indicates that the Indian government emphasized making at least 30% of new vehicle sales electric by 2030. It would generate more than $200 billion in investment opportunities in the years to come and become the largest EV market. In addition to this, modern EVs integrate BMS (battery management systems) with advanced cooling technologies, thus improving the monitoring and regulation of battery temperature. Thus, will require the use of battery cooling and eventually lead to the market.
Similarly, the International Energy Agency (IEA), published a report indicating the world trends in EVs sales. The sales of electric cars for developed countries such as China recorded a super huge 6 million cars sold in 2022 and were forecasted to account for 10.1 million vehicle sales by 202. Similar trends were recorded with electric cars sold in Europe and the USA in 2022, which were about 2.7 million and 1 million, respectively. This increased about 3.4 million total EV sales recorded in Europe in 2024, while in the USA, about 1.7 million were sold. This will also result in increasing demand for efficient battery cooling systems to regulate heat generation in EVs, which will contribute to the continuous rise in demand for EVs.
Figure 2: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
It is also estimated that a significant portion of the battery cooling system requirement in EVs will be witnessed in the Asia Pacific region. This is because the Asia Pacific region is expected to gain a greater market share in the global EV battery cooling system sector since this region is one of the fastest-growing geographies for the EV industry and is also promoting the technologically advanced EV landscape. Countries that are working towards developing their manufacturing EV sector and building technologies surrounding their use include the Asian Pacific countries, China, Japan, and Taiwan. Additionally, there is a huge influx of investments, both governmental and private, around the region, especially in countries such as India, China, and Vietnam, investing in the Asia Pacific region specifically for EV technology development and EV adoption growth in years to come.
In addition, more than half of the total market for consumption of EVs belongs to Chinese manufacturers, while BYD planned to establish its EV factory in Thailand by 2024 and has committed to spending for this project around 500 million US dollars to potentially expect an output of about 150,000 vehicles yearly. The aspirational goal for Thailand is to evolve into a hub of major EV manufacturing enterprises that can quickly source USD 28 billion in foreign investment in four years while giving specific incentives to attract investment.
Further, the demand for EVs is growing in other Asian Pacific countries like India. The report of India Brand Equity Foundation stated that in 2021, around 3.31 million EVs were registered in India, and this number grew to about 10.2 million in 2022. In 2023, this figure was recorded at approximately 15.29 million, which shows a growth rate of more than five times compared to 2021.
Moreover, TotalEnergies updated immersion cooling for their batteries in October 2022, where they partnered with Valeo in order to innovate new approaches in the cooling of EV batteries with superior dielectric fluids into highly efficient systems. This partnership is aimed at increasing the utilization level of EVs while decreasing the carbon footprint of EVs. Furthermore, the latest technology and advanced cooling systems are innovating increased thermal efficiency, when compared to traditional air cooling, which will set the pace for global demand for EVs in the coming years.
Key Developments:
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AI Quality Inspection Market size worth US$438.705 million by 2029
Press ReleasesThe AI Quality Inspection market is estimated to grow at a CAGR of 28.40%, attaining US$438.705 million by 2029 from US$179.806 million in 2024.
AI quality inspection helps collect and analyze variances through software-driven artificial intelligence and vision technologies in the production of products such as semiconductors, pharmaceuticals, textiles, and automobiles among others. With their precise and less time-consumed features, quality check applications that are owned by AI are thus permeating more in the semiconductor industries and the medical, clothing, automotive industries, etc.
Moreover, many advanced manufacturing firms in the world implement artificial intelligence-based quality control techniques because they are more accurate compared to the traditional approach of controlling quality manually. Therefore, it can be said that several reasons will enhance the demand for AI-based quality control systems other than the existing need for AI-based products, it is almost obvious that the business of such systems will increase within the forecast period.
The rise in operating expenses for manufacturing firms due to the production of subpar goods is the cause of the growth. In large batches, the human eye’s manual quality control may not always be able to identify these failures. Leading manufacturers around the world are aggressively investing in AI-based quality inspection software to get around this restriction, find faulty products sooner, and avoid further costs.
Furthermore, unrealized opportunities in developing regions seem to present an opportunity for the vendors of AI visual inspection systems to widen their customer base and establish themselves in fast-industrializing and technology-savvy areas. Developing countries often have a growing manufacturing industry and a transcending economy, making them ideal candidates for advanced inspection technologies. The providers of AI visual inspection systems have the unique opportunity of availing their cutting-edge solutions in these regions due to the lack of developed infrastructure and processes that usually serve the people’s needs in such places.
The AI quality inspection market, by type, is divided into two types- pre-trained and deep learning. Examples of artificial intelligence are deep learning models, which are modelled on the multi-layered neural structure of the human brain. Because such models are fed with a good amount of data, they can also understand non-visual features and patterns in the images. Visual inspection systems deploy deep networks to understand images and videos by locating imperfections, defects or specific features with accuracy.
On the other hand, pre-trained models are offered as artificial intelligence models trained before on wider image identification and object recognition using very large datasets. These models are then modified or transformed to meet the very demanding visual inspection applications. Pre-trained these models facilitate faster deployment and reduce the training periods because all the knowledge gained is put into use from previous learning stages.
The AI quality inspection market, by end-user, is divided into five types: Semiconductor, pharmaceutical, automotive, textile, and others. Due to the growing use of IoT technologies, smart devices, and networked systems, product failures have a substantial effect on user confidence, data security, and brand equity. The global trend of regulatory bodies tightening controls to impose stricter laws and regulations on the quality and safety of products exacerbates this. Besides being a legal requirement, it is also a strategic option to comply with these rules since any deviations from them can lead to huge fines, legal issues, or tarnishing the image of the concerned brand.
Moreover, the rising importance placed on quality control in many sectors also emphasizes the need to be able to detect and take corrective actions for all potential quality problems in the shortest possible time, across the entire product life cycle. Strong quality assurance can help businesses minimize risks and maximize performance.
During the projected timeframe, it is anticipated that the market for AI quality inspections will experience remarkable growth within North America. North America has been making significant investments to broaden the use and scope of AI software, including AI quality control and inspection, as a powerful technological evolution force in the global artificial intelligence market. The leading software companies are developing and competing with one another to expand their portfolio of AI products and services. For example, Spyglass Visual Inspection, a virtual AI quality inspection tool from Microsoft, combines technology services to find any flaws in products.
Moreover, using a federated learning model, IBM has unveiled its most recent AI quality inspection product. In addition to these well-known businesses, several American startups are focusing their product lines on developing new models and techniques to enhance AI-assisted quality inspection. For example, IHI Corporation, one of the world’s top manufacturers, has adopted the AI-based quality control application developed by Neurala Inc., a Boston startup. As a result, it is reasonable to assume that the North American AI quality inspection market will grow during the forecast period given current market trends and recent advancements in AI quality inspection products in the USA.
The research includes several key players from the AI quality inspection market, such as Intel Corp, Kitov Systems, Mitutoyo America Corporation, Landing AI, NEC Corporation, tunic AG, device GmbH, craftworks GmbH, Pleora Technologies Inc.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/ai-quality-inspection-market
The analytics report categorizes the AI quality inspection market using the following criteria:
How Rising E-Commerce is Boosting Demand for Refrigerated Transport Services
Thought ArticlesThe growth in e-commerce sites, especially food and grocery sectors, has resulted in a considerable increase in demand for refrigerated transportation services, especially as the mode of shopping changes to one that encourages purchases of perishable foods for direct home delivery. Most consumers expect fresh and frozen foods, high-convenience food and beverage products, to be delivered swiftly and availably to their homes, proving yet another compelling attribute for companies to invest heavily in making their cold-chain refrigerator systems more efficient.
The demand for refrigerated transportation is predicted to be propelled by the expansion of e-commerce platforms, especially those like Instacart and Amazon Fresh. World e-commerce has increased the importance of refrigerated transportation for international delivery and timely delivery of perishable goods like food and beverage, and pharmaceutical products across borders. For example, India produces low-cost vaccinations for the global market. The world’s 60% vaccination coverage is accounted for by India, and 70 percent of the total DPT and BCG vaccines, and 90 percent of measles vaccines are all available in the country. For this continuous rise, maintenance of ambient conditions for these products is becoming a developing and evolving innovation of the industry in refrigerated transport.
Besides, in the report from APEDA Agri Exchange Source for fruit juices on data related to the expansion of juice segment volume, the worldwide total volume, which was 36,223.6 million liters in 2022, is expected to increase to 36,809 million liters by 2023. Most of this is taken by orange juice, followed by other juices which is expected to contribute to the rising demand for refrigerated transport services, since these will require effective refrigerated transport for quality maintenance and extension of shelf life.
There exists a global demand for temperature-sensitive goods, primarily fresh food and medicines, driven by the growth of e-commerce. Companies in the refrigerated sector, in turn, enable the capability of e-commerce players to be able to meet the demand for freshness and quality by their consumers. Innovative refrigerated containers and reefer trucks are doing wonders for changing the way temperature-sensitive goods are delivered and transforming holistic e-commerce landscapes while being indispensable components for industry growth.
According to the Dubai World Trade Center January 2023, the pharmaceutical market of UAE is expected to reach US$4.7 billion by 2025 and these consist of around 23 manufacturing centers and nearly 2,500 medicines produced locally by 2023. Furthermore, the pharmaceutical export value of the nation is estimated to capture approximately US$297 million by 2025 and project a growth of 21% from 2021. Furthermore, within the online pharmaceuticals industry, increasing demand for reliable refrigerated transport is shaping up for both efficient delivery and a cold supply chain for temperature-sensitive medicines such as vaccines, antibiotics, and insulin.
With online remodeling getting higher, with the meat and dairy industry rising and leading to an increase in cross-country demand, the market in fresh and frozen food delivery continues to show upward growth. Refrigerated companies now offer refrigeration container boxes capable of keeping perishable items fresh and maintaining good quality. They provide suitable environments for delivery, and the temperatures help prevent item spoilage for their clients, thus delivering fresh and quality guaranteed supply to consumers. Thus, there is an increase in the trend of buying fresh items online, which is making the demand for refrigerated transport services increase. Retail channels that deal in perishables items, such as those offered via online shopping platforms, are already showing positive growth. For instance, statistics from the United States Census Bureau showed that retail e-commerce sales in the country amounted to US$ 300.1 billion in the third quarter of 2024.
Figure 1: Increase in Volume of Juice Segment in the World, in Million Liters, in 2022 and 2023
Source: APEDA Agri Exchange
One of its components is online and thermal features, like GPS-tracking and temperature-controlling systems, through which they can maximize and monitor their cold chain logistics activities. Thus, this would stimulate an increased demand for such a kind of system. This demand would yield a better return owing to the growth of the e-commerce sector. In this context, in November 2024, Carrier Transicold displayed future-ready digital and refrigeration transport systems to assist cold chain solutions at Intermodal Europe in Rotterdam, The Netherlands.
Additionally, cold chain transportation is rapidly increasing throughout the continents as it had to do with the development of e-commerce in Europe due to the high expectation of many consumers on freshness and quality of food. It is also very much because of an increase in the requisite speed and reliability in delivering certain ranges of temperatures. Thus, effective refrigerated transport would ensure the integrity of perishable goods. For instance, in June 2024, MHI Thermal Systems introduced a new electric-driven transport refrigeration unit, TEK Products, specifically designed for use in small and mid-size trucks. These will feature pressure for European delivery and the plug-in-hybrid will take care of the inside temperature while not moving in the future during parking and idling. It meant improving cooling/heating capacity expanded to include small and mid-size trucks beyond the TE20/30 series’ mountable range.
Similarly, in June 2024, Sunswap, the manufacturer of Endurance, associated with MAN Truck & Bus to test its Latest TGX 4×2 eTruck, in the UK. The press event was for customers at HORIBA Mira Test Track to showcase this collaboration as another milestone in implementing a sustainable cold chain with an electric truck and a fully electric refrigeration unit.
Key Developments:
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EV Motor Market is expected to grow at a CAGR of 14.88%
Press ReleasesThe EV motor market is expected to grow at a CAGR of 14.88% during the forecast period (2024-2029).
An electric vehicle (EV) motor turns electrical energy into mechanical energy giving torque and power to move a vehicle forward. It gets electricity from the vehicle’s battery, makes a magnetic field, and creates mechanical energy by spinning. This mechanical energy goes to the wheels through the vehicle’s drivetrain. EVs utilize three primary types of motors that are induction motors, permanent magnet synchronous motors and switched reluctance motors. These motors are used for diverse purposes to increase the productivity and effectiveness of the EV by producing efficient power.
The market for EV motors is witnessing strong expansion due to supportive government initiatives and policies, a rise in self-driving vehicles, the development of charging facilities, and the incorporation of EVs into smart grids. The environmental concern posed by the enhancement of vehicle technology has increased the adoption of EVs. Lower costs have made EVs cheaper so more people can afford them. Gas prices are rising quickly making regular cars pricier to run, which makes EVs a smarter choice in perspective of cost. Moreover, the buyer’s preferences are changing with more individuals wanting electric cars, which drives up the need for EV motors.
The market is witnessing diverse collaborations and innovative technological advancements, for instance, the E-Axle produced by Nidec corporation in October 2022 is a second-generation Electric Vehicle drive motor system that provides a 135kW output, weighs around 57kg weight, and 2,400Nm power.
Based on the vehicle type, the EV motor market is divided into two-wheelers, passenger vehicles, three-wheelers, and commercial vehicles. Passenger vehicles will have a significant role in the growth of the EV motor market in the years ahead. This is because more people are becoming mindful of the advantages of EVs. Also, battery charging stations and motor design technology are getting better. On top of that, governments are offering tax cuts, funds, and free charging spots. All of this makes EVs more useful and attractive to an increasing number of buyers.
Based on the components, the EV motor market is classified into rotor, shaft, motor stator, and bearing, permanent magnet, casing, and wiring & connectors. Permanent magnets will have a significant share in the growth of the EV motor market during the forecasted period due to their properties and they store more power in a smaller space. Moreover, with advancements in these components, they are increasing in demand. They turn more electricity into motion, which means EVs can go farther on a single charge and use less energy overall.
Based on the power rating, the EV motor market is categorized into up to 20KW, 100KW to 250KW, 20KW to 100KW, and above 250KW. The market segment for EV motors with power ratings above 250KW is set to expand due to heavy-duty uses like commercial trucks, buses, and construction equipment. As governments and companies switch to EVs, they need more high-power EV motors. New technology in motor design, power electronics, and batteries allows manufacturers to build stronger and more efficient EV motors for these applications.
Based on geography, the EV motor market is extending majorly in the Asia Pacific region due to various variables. The region of Asia Pacific is witnessing the growth of EV motors because of its growing economy, the presence of large EV manufacturers in countries like China, Japan, and India, and its proximity to cheap labor and production. However, the rise in population moving to cities, and new tech developments, will contribute to more EV adoption, leading to regional market growth.
As a part of the report, the major players operating in the EV motor market that have been covered are Aisin Seiki Co. Ltd, Toyota Motor Corporation, Hitachi Automotive Systems, DENSO Corporation, Honda Motor Company Ltd, Mitsubishi Electric Corp., Magna International, Robert Bosch GmbH, BMW AG, Nissan Motor Co. Ltd, Tesla Inc., Toshiba Corporation, and BYD Co. Ltd.
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This analytics report segments the EV motor market on the following basis:
Pharmacovigilance Market size worth US$11.041 billion by 2030
Press ReleasesThe global pharmacovigilance market is expected to grow at a compound annual growth rate of 10.53% over the forecast period to reach a market size of US$11.041 billion in 2030 from US$7.071 billion in 2025.
Pharmacovigilance is the process or science that is related to detecting, assessing, and understanding the adverse effects of vaccines or medicines. The process of pharmacovigilance helps in detecting any risk and monitoring the effects of the medicines. It also helps in reducing the adverse effects of newly developed medicines. The process of pharmacovigilance includes two major processes, which comprise active and passive surveillance. The process of active surveillance helps in the proactive monitoring of the patients, while the passive surveillance process features voluntary reporting.
With the increasing global demand for the pharmaceutical sector, the pharmacovigilance market is forecasted to witness significant growth during the forecasted timeline. The process of pharmacovigilance helps in efficiently and safely developing new and more effective drugs and vaccines. With the increasing global demand for new drug development, various global leaders in the pharmaceutical market are expected to increase research and development to boost the efficiencies of pharmacovigilance platforms.
Similarly, the integration of new-age technologies, like artificial intelligence into the pharmaceutical sector is also expected to boost the efficiency of the pharmacovigilance platforms. Various global leaders have introduced key solutions and platforms in the global pharmacovigilance market. For instance, CorEvitas, a global leader in pharmaceutical evidence solutions, which was acquired by Thermos Fischer, announced the launch of CorEvidence in December 2023, a pharmacovigilance platform, which is aimed at clinical research registries.
The global pharmacovigilance market, under the clinical trial phase segment, is categorized into Preclinical, Phase I, Phase II, Phase III, and Phase IV. In the clinical trial phase segment of the global pharmacovigilance market, the preclinical category is forecasted to grow at a significant rate. The preclinical studies help in reducing the adverse effects and improving the safety of pharmaceutical drugs and vaccines. The preclinical pharmacovigilance process helps in offering the drug developer an extensive and initial report related to the drug developments.
The service provider segment of the global pharmacovigilance market is categorized into contract outsourcing and in-house. The outsourcing category, under the service provider segment of the global pharmacovigilance market, is expected to attain a greater market share during the forecasted timeline. In the pharmacovigilance market, the outsourcing service provider offers a wide range of applications, which includes offering efficient and seamless services.
By end-user, the global pharmacovigilance market is segmented into pharmaceuticals, biotechnology companies, medical device manufacturers, and others. In the end-user segment, the pharmaceutical category is estimated to attain a greater market share. The pharmacovigilance platform offers a critical role in the development of new and advanced pharmaceutical drugs in the pharmaceutical industry.
Based on geography, the European region is expected to witness significant growth in the global pharmacovigilance market. Europe is among the biggest producers and developers of the pharmaceutical sector across the globe. Various nations like Germany, France, Spain, and Switzerland are among the biggest producers and exporters of pharmaceutical drugs and vaccines across the globe. Similarly, multiple governments in the region have also introduced key policies and investment opportunities to propel the development of drugs in the region, and simultaneously integrate new-age technologies into the pharmaceutical industries.
As a part of the report, the major players operating in the global pharmacovigilance market that have been covered are Cognizant, Sciformix (Covance), IQVIA, APCER Life Sciences, Inc., Navitas Life Sciences, BioClinica, Accenture, ArisGlobal, Capgemini, and FMD K&L Inc.
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The market analytics report segments the global pharmacovigilance market as follows:
Revolutionizing the Screen: How AI is Transforming Broadcasting and Entertainment Production
BlogArtificial intelligence is a form of new-age technology that replicates human intelligence through various machine-learning processes. Artificial intelligence offers a wide range of benefits in the global technological market, as it can help in reducing human error, and enhance decision-making. Artificial intelligence also helps in the automation of multiple activities and offers digital assistance. In the global broadcasting and entertainment market, artificial intelligence is commonly used for metadata cataloging.
In the broadcasting and entertainment sector, artificial intelligence is set to play a critical role in offering an enhanced and optimum broadcasting experience, across multiple categories of the sector.
Use Case:
1. Increasing global demand for broadcasting and entertainment sector
The growth of the global broadcasting and entertainment sector is expected to boost the demand for artificial intelligence in the sector. In the broadcasting and entertainment sector, artificial intelligence is utilized to offer an interactive and enhanced consumer viewing experience. Artificial intelligence tools and platforms can also help in predicting the likes and preferences of the audiences.
Artificial intelligence can also help in integrating content from various sources, using AI-powered content aggregation platforms. The AI-based tools can also help in offering enhanced content searching and recommendations. The tools and platforms can also help in integrating social media into the content viewing experience.
Global television viewership witnessed significant growth in recent times. The Canada Radio-television and Telecommunications Commission in its report stated that during 2023, the consumption of traditional television services in the nation varied from 15.3 to 198 hours per week per user. The agency stated that in 2023, the total revenue of conventional television services was recorded at US$1,389.5 million, which consists of US$1,124.5 million for the English & bilingual languages, and US$256.5 million for French languages. Similarly, the total revenue of discretionary television services in Canada was recorded at US$3,833.6 million in 2023. Under the discretionary television services, the English & bilingual category accounted for US$3,126.3 million, and US$653.8 million for the French-language category.
Figure 1: Television Revenue by Category, Canada, Us$ Million, 2023
Source: Canada Radio-television and Telecommunications Commission
2. Increasing investments in the AI sector
Similarly, a major factor propelling the utilization of artificial intelligence in the broadcasting and entertainment sector is the increasing global investments in artificial intelligence-based technological developments. With the increasing integration of artificial intelligence platforms across multiple industries, various global leading companies in the technological sector, and governments of multiple countries have increased their investment in the artificial intelligence sector. Various global companies like IBM, Google, Apple, and Microsoft, among many others, have introduced new investment and technology development plans to boost the applications of the technology. For instance, in November 2023, IBM, a global technological company announced the launch of Enterprise AI Venture Fund, with a value of US$500 million. The fund is aimed at propelling the growth of AI development across multiple industries. Similarly, the Government of India, in March 2024, approved its IndiaAI Mission, which is aimed at increasing the research and development of artificial intelligence technology, and its integration across multiple industries. The government allocated a sum of US$1.25 billion towards this mission and encouraged the technological startups to increase their research and development.
Key Developments
In the global broadcasting and entertainment industry, the integration of AI-based technology is expected to offer a positive application in the global market. AI-based technology, in the entertainment and broadcasting sector, helps in enhancing the viewing experience of consumers and can curate more interactive graphics. In the broadcasting and entertainment sector, artificial intelligence tools can also help in integrating various types of content and can create an interactive and personalized watch list for the viewers. Artificial intelligence platforms can also help the broadcasters understand the preferences of the viewers.
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Data Monetization Market size worth US$12.585 billion by 2029
Press ReleasesThe data monetization market is estimated to be around US$4.841 billion in 2024 and is anticipated to grow to US$12.585 billion by 2029 at a CAGR of 21.06%.
Data monetization is a method to extract income from data assets to generate more revenue. There are different strategies involved in data monetization such as direct sales, data-as-a-service (DaaS), data licensing, indirect sales models, and product enhancements. Additionally, various data monetization service providers add potential methods to increase revenue like introducing new products for a different segment of the business target customer base. The strategies include enhancing current offers, developing new data products and services, or providing data to other businesses to generate income.
The market for data monetization is growing at a rapid pace, due to various factors such as the generation of large volumes and quantity-level data by industries. With the increasing adoption of modern technologies like artificial intelligence and machine learning, business analytics tools drive more valuable insights on revenues generating analytical data which creates opportunities for the growth of this market.
Additionally, diverse businesses generate huge data from IoT devices, social media platforms like Meta, X, and Reddit, and e-commerce sites such as Amazon, and Flipkart and are increasingly employing data monetization. Companies are starting to realize that the data they collect also has potential value when provided as a service for other firms leading to expansion of the market. Cloud computing and blockchain provide a security layer of data to build trust factors for businesses to utilize data monetization at their disposal.
The market is witnessing diverse collaborations and innovative technological advancements, for instance, in September 2023, Amazon Web Services (AWS) showcased new monetization arrangements at IBC 2023, including the AWS for M&E Monetization solution zone. These solutions empower media companies to maximize publicizing income and drive client engagement across different platforms and channels, subsequently improving their general execution in the media and entertainment sector.
Based on the offering type, the data monetization market is categorized into solutions and services. The data monetization market is expected to witness rapid growth due to solutions offered in the forthcoming years due to the proliferation of solution offerings such as data management platforms solutions, and analytics tools. It helps businesses gather, store, process, and efficiently analyze data. They are also more scalable as they can properly handle larger data volumes and increase the need for informed data-driven insight from the stored data. Companies also offer easily customizable solutions for the unique requirements of each industry and organization, thereby ensuring maximum efficiency.
Based on the deployment model, the data monetization market is classified into on-premise and cloud. The market will witness growth due to cloud-based data monetization as they are flexible and cost-effective model. The cloud offers significantly lower infrastructure costs with unlimited scalability and faster installation time for businesses. It helps organizations who have to adapt to larger data and an increasing need for insights from that data. Finally, cloud platforms are not only more cost-effective for small to medium-sized businesses but also eliminate the upfront costs and ongoing maintenance of an on-premise data center.
Based on enterprise size, the data monetization market is divided into small, medium, and large. Large enterprises will contribute majorly to the data monetization market in the coming years as they accumulate enormous data, and this abundant accumulation of complex structured or formatting data sources has increased the possibility for monetization. They have robust resources for data management frameworks that manage the quality and security of all their data.
Based on the end-user industry, the data monetization market is divided into retail, manufacturing, automotive, BFSI, media and entertainment, and others. All the end-user industries contribute immensely to the data monetization market expansion however retail industry is a data-heavy sector, with many retailers using customer data for targeted marketing and personalization. It can collect all of these resource utilization data, and it also serves as fuel for new business models such as inventory or supply chain monetization, and customer loyalty programs to drive revenue sales through their data.
Based on geography, the market for data monetization is extending majorly in the Asia Pacific region due to various variables. Asia Pacific region consists of growing economic countries, driving higher volumes of data and demand for data insight services. The increasing digital adoption by the population and businesses in this region contributes to generating a lot of data that can be monetized. Additionally, the data monetization market is developing due to regional companies in favor of adopting new technologies like cloud computing that help contribute significantly by using their assets for internal revenue generation.
As a part of the report, the major players operating in the data monetization market that have been covered are Accenture, First Quantum (Adastra), Dawex Systems, Elevondata, EMU Analytics, Gemalto NV (Thales Group), Infosys, MonetizeMore, IBM, Google, SAP, and SAS AB.
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The Data Monetization Market is segmented and analyzed as follows:
Oilfield Chemicals Market size worth US$35 billion by 2030
Press ReleasesThe oilfield chemicals market was valued at US$30 billion in 2025 and is expected to grow at a CAGR of 3.10% over the forecast period to reach a total market size of US$35 billion by 2030.
The market for oilfield chemicals is expected to grow steadily due to several important factors. Oil and gas are expected to continue to account for a sizable portion of the world’s energy mix for the foreseeable future, despite the growing emphasis on renewable energy sources. The importance of effective exploration and production activities—which mainly depend on oilfield chemicals is highlighted by the ongoing demand for gas and oil.
Companies are increasingly investigating more difficult settings, like deepwater wells, and unconventional resources, like shale formations, as a result of the depletion of readily accessible oil and gas reserves. Specialty oilfield chemicals are required for resource extraction from these environments to improve drilling efficiency and guarantee wellbore stability.
Moreover, the global energy landscape has undergone significant change since the shale gas revolution began. Hydraulic fracturing, a procedure necessary to release these resources, depends on a particular combination of oilfield chemicals for shale gas extraction. The market for oilfield chemicals is significantly influenced by the shale gas industry’s rapid expansion.
Further, the oilfield chemicals industry is being forced to innovate and create more environmentally friendly and biodegradable formulations due to the implementation of stricter environmental regulations. The industry is seeing growth prospects as a result of the heightened emphasis on sustainability, which is creating a new market niche for “green” oilfield chemicals.
Moreover, one of the emerging trends in food consumption is the universal awakening to food safety, with countries encouraging their citizens. People’s awareness about agriculture-and-industry contributions to climate change has also increased. This awareness translates into increased demand for organic, sustainable, free-from-pesticides, and fair-traded food products such as cocoa. In the last few years, heart disease, diabetes, and obesity have been on the elevate at such a high level that customers are increasingly inclined to eat healthy food items that include organic and pesticide-free products. One of the significant factors that mainly fuel market growth on a global scale is the growing healthy lifestyle trend that offers safe and organic food products as the lifestyle and health impacts these food products on overweight, diabetes, and heart-related issues.
Additionally, such methods of going “green” in oilfields use chemicals that are less toxic to exposure, less flammable or flashpoint, have greater biodegradability, are less bioaccumulative, and above all, are sustainably produced as well as used. Manufacturers are developing and adopting ever-newer product lines that no longer consume or harm users and the environment but counter the increasing environmental concerns. For instance- Nouryon, has come up with a new demulsifier line that provides oil producers with a means to extract crude oil contained in a mixture of water and natural gas. Such resource discoveries are likely to usher in better growth prospects in the coming days due to multiple new oil and gas resources and the rise of shale gas and enhanced oil recovery (EOR) activities.
With increasing exploration and production participants are expanding their operations into areas of high growth like China, India, Brazil, Mexico, and Southeast Asia; this will result in increased oilfield service activities with a corresponding increase in volume demand for these chemicals. As government policies put more emphasis on cleaner energies and stricter regulations, it is expected that more chemical manufacturers will get into the act of developing environmentally friendly, sustainable oilfield chemicals.
By type, the oilfield chemicals market is segmented into five major categories, corrosion inhibitors, biocides, surfactants, demulsifiers, and Others. Inhibitors were among the products expected to develop within the forecasted duration, corrosion is a serious problem in oilfield exploration project activities. Carbon dioxide, hydrogen sulfide, and so on are some impurities in extracted products as well as cause corrosion by reacting with metal surfaces as oil is passed through pipelines for transportation. Water-soluble inhibitors such as amides, long-chain amines, or imidazoline can therefore be applied by posing a thin layer on the metal surface to control the rate of corrosion.
The oilfield chemicals market by application is segmented into production, drilling, refining, stimulation, and others. The tendency to expand operations in the oil and gas sectors as enhanced hydraulic fracturing and drilling technologies will propel growth in such sectors. They keep contaminated products out of the drilling fluid system and maintain temperature stability for the drilling segment. To ensure hydrostatic pressure is kept as high as possible and avoid cutting in the wellbore, all this while offering great economic savings, they too are added to the drilling fluid. Further, increased drilling activities and technological advancement will create further growth opportunities for the product.
These coatings are widely important in oil and gas drilling operations. These chemicals improve the resistance strength, durability, and quality of the concrete used in diverse applications such as cementing plugs, casing, and well-bore cementing.
Based on geography, the North American region of the oilfield chemicals market is growing significantly. The North American region is important in the global market for oilfield chemicals because of its increasing focus on shale gas development and production. Because of the shale gas boom, advancements in technology, and a rise in oil exports, the United States holds the largest market share in North America.
The demand for natural gas is expected to rise during the forecast period due to increased demand from North American countries, and shale gas production has increased significantly in recent years.
As a part of the report, the major players operating in the Oilfield chemicals market that have been covered are Huntsman International LLC, Stepan Company, BASF SE, Halliburton, Ashland, Gulf Coast Chemical LLC, The Dow Chemical Company, Solvay, Kraton Corporation, and Thermax Limited.
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The market analytics report segments the oilfield chemicals market as follows:
Algae Protein Market size worth US$1,216.113 million by 2029
Press ReleasesThe global algae protein market is expected to grow at a CAGR of 6.52% to reach a total market size of US$1,216.113 million by 2029, increasing from US$886.802 million in 2024.
Algae protein is a predominant choice for protein sources due to its nutritional value and sustainability advantages. Produced from aquatic plants, algae incorporate all nine essential amino acids, and also provide iron, and vitamins, and are low in calories, which makes it reasonable for weight management. Algae production needs negligible land, and less water consumption, and helps in carbon sequestration, benefiting climate change mitigation. It can be utilized in food products such as protein powders, nutritional supplements, and plant-based meat alternatives, as well as in pharmaceutical items and animal feed.
The market for algae protein is witnessing substantial expansion due to growing consumer demand for plant-based proteins, the dietary benefits of algae, and technological progressions in the cultivation and extraction of algae to make it cost-effective. Further, the market is extending to developing regions, with rising markets developing products to increase the attraction of consumers to this sustainable protein source. Additionally, growing consumer acknowledgment of algae protein as a reasonable food source, and raising clear regulatory standards for plant-based food products including algae protein production and labeling, could lead to the continuous expansion of the market in the coming future.
The market is witnessing diverse collaborations and innovative technological advancements, for instance, in June 2024, Brevel, Ltd. initiated its first commercial plant, measuring 27,000 square feet, adequate for hundreds of tons of production of microalgae protein powder. The clean, non-GMO, and planet-friendly protein is a market-viable arrangement within the elective protein market and is anticipated to begin rolling out its first products in Q1 2025.
Based on the type, the algae protein market is divided into spirulina, chlorella, seaweed, and others. The spirulina segment is anticipated to contribute significantly to the growth of the algae protein market. This is due to it being packed with protein, offers great nutritional content, grows cost-effectively, and has many uses in food, drinks, supplements, and also used in animal feed. Athletes, vegetarians, and vegans are attracted to spirulina for its high protein content and its wealth of vitamins, minerals, and antioxidants.
Based on the end user, the algae protein market is classified into dietary supplements, food items, animal feed, pharmaceuticals, cosmetics, and personal care. The dietary supplements are expected to boost the algae protein market majorly because health-focused shoppers want natural, plant-based protein sources. Algae protein contains essential amino acids, vitamins, and minerals, which makes it a go-to choice for dietary supplements. It’s also an easy way to add plant-based protein to a user’s diet and thus is widely accepted among the health-conscious population.
Based on geography, the algae protein market is extending majorly in the Europe region due to various variables. The rapidly increasing population in the region is contributing to the rising consciousness of consumers on health and well-being. This is leading them to choose plant-based foods which will fuel the market growth in the region. Further, countries in Europe are emphasizing on development of eco-friendly products and the adoption of sustainability practices through policies and grants.
As a part of the report, the major players operating in the algae protein market that have been covered are Corbion Biotech, Inc., Nutrex Hawaii, Cyanotech Corporation, Earthrise Nutritional, Far East Bio-Tec Co., Ltd., Algatechnologies Ltd, and Phycom Microalgae.
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This analytics report segments the algae protein market on the following basis: