Day: October 9, 2024

Burlingame, Oct. 09, 2024 (GLOBE NEWSWIRE) — The global pet sitting market, valued at 2.41 billion dollars in 2024, is on a trajectory of rapid expansion, with projections indicating it will soar to 5.35 billion dollars by 2031, at a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Rising demand for reliable pet care services has risen considerably when owners are away on business trips or vacations. Pet sitting offers pet parents peace of mind knowing their furry companions are being well looked after in their own home environment with daily visits and activities. This driver has significantly boosted the growth of the pet sitting industry.

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Market Dynamics

The growth of the pet sitting market is attributed to the increased pet ownership and humanization of pets. According to the American Pet Products Association, around 70 million homes in the U.S. own at least one pet. Owning a pet has positive impact on mental and physical health of owners. However, pet owners face challenges to take care of their pets when they are on vacations or business trips. This drives the demand for pet sitting services wherein professional pet sitters take care of pets at their homes, providing them food, water, medication if needed, playtime and walks. Another factor fueling the market growth is increasing number of nuclear families wherein both partners have career responsibilities leaving little time to take care of pets. This has increased the acceptance and demand for pet sitting services.

Pet Sitting Market Report Coverage

Market Trends

Advent of online pet sitting platforms: Major players in the market are focusing on developing online platforms for sourcing pet sitters as well as for pet owners to book sitting services. These platforms provide transparency and convenience to users. For instance, Rover.com connects pet owners with pet sitters nearby who can drop-in, walk, feed, and care for pets. Such platforms are gaining increasing traction among millennial pet owners who are frequent travelers and career-driven.

Mobile applications for pet sitting: Market players are also offering mobile applications for pet sitting convenience. These mobile apps help pet owners track pet sitter’s location, receive photos and updates about their pets, and make payments. They also provide safety features like verification of pet sitter’s credentials. For example, Wag offers a mobile app for both IOS and Android to match pet owners with local pet sitters, track visits, and make payments. Such tech-enabled services are expected to drive the pet sitting market.

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Market Opportunities

The care visits segment involves regular visits by pet sitters to feed, walk and play with pets when the owners are away. This segment accounts for around 60% of the total pet sitting market currently owing to the assurance and personalized attention it provides pets. Being away from home for long hours puts stress on pets and regular care visits help reduce anxiety and maintain their daily routine and bonding with the sitter. With increasing pet ownership and dual income households where owners travel more frequently, the need for reliable care visits is growing steadily.

While care visits ensure pets remain well taken care of during longer owner absences, drop-in visits are a convenient option for shorter trips or when paired with care visits. They involve brief check-ins by sitters to feed, play and tend to pets for a few minutes. This segment is growing at a faster pace compared to care visits driven by flexibility and cost savings it provides owners. Busy lifestyles mean taking more occasional short trips which makes pre-scheduled drop-ins a suitable solution for many pet parents.

Key Market Takeaways

The global pet sitting market is anticipated to witness a CAGR of 12.1% during the forecast period 2024-2031, owing to rising pet ownership and humanization of pets.

On the basis of pet type, the dogs segment is expected to hold a dominant position, accounting for around 65% share due to their popularity as pets and regular need for care when left alone.

On the basis of service type, the care visits segment is expected to hold a dominant position over the forecast period, contributing to more than 60% revenue share due to the personalized daily care and reassurance it provides pets and owners.

On the basis of region, North America is expected to hold a dominant position over the forecast period, with the US alone constituting over 45% of market share. This can be attributed to high pet spending and preference for professional pet care in the region.

Some of the leading players operating in the global pet sitting market include A Place for Rover, Inc., Pets at Home, Inc., Wag! Group Co. The pet sitting industry is expected to experience considerable consolidation as large players look to enhance market share through mergers and acquisitions.

Pet Sitting Industry News

In September 2022, PetSmart collaborated with interior designers Nate Berkus and Jeremiah Brent by launching a collection of couches, beds, stands, etc., designed specifically for pets and pet parents’ comfort & needs.

In May 2022, Kimpton Hotels & Restaurants partnered with Wag! Offering on-property & at-home walks and drop-ins for guests staying in their hotels across the U.S.

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Detailed Segmentation-

By Pet Type

By Service Type

• Care Visits
• Drop-in Visits
• Dog Walking
• Boarding
• Pet Transportation
• Others

By Region:

• North America
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa

Have a Look at Trending Research Reports on Pharmaceutical Domain:

Global Pet Tech Market is estimated to be valued at US$ 8.12 Bn in 2024 and is expected to reach US$ 20.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031.

Global PET packaging market was valued at US$ 61.9 Mn in 2023 exhibiting a CAGR of 7.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 104.1 Mn by 2030.

Global pet furniture market is estimated to be valued at USD 7.01 Bn in 2024 and is expected to reach USD 10.65 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

Global pet food bowl market is estimated to be valued at USD 3.66 Bn in 2024 and is expected to reach USD 5.22 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Follow Us: LinkedIn | Twitter

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights

Phone:
US: +1-650-918-5898
UK: +44-020-8133-4027
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com

Burlingame, Oct. 09, 2024 (GLOBE NEWSWIRE) — The global skin rash treatment market Size to Grow from USD 3.67 billion in 2024 to USD 5.70 billion by 2031, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Growing geriatric population is also expected to drive market growth as skin conditions are highly prevalent among the older population. Meanwhile, ongoing research and development activities for developing more effective treatment regimens are estimated to offer lucrative market opportunities over the forecast period.

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Market Dynamics

The skin rash treatment market is expected to witness significant growth over the forecast period. Rising incidences of various skin diseases such as eczema, psoriasis and dermatitis are expected to propel the demand for skin rash treatment products.

According to American Academy of Dermatology, over 50 million Americans suffer from eczema every year. Furthermore, new product launches by the key players are also anticipated to boost the market growth during the analysis period.

Skin Rash Treatment Market Report Coverage

Market Trends

Increasing adoption of natural and herbal products for skin rash treatment is projected to create lucrative opportunities for market players during the forecast period. For instance, Dead Sea products or aloe vera creams are widely used for skin rash treatment.

Rising consumer awareness regarding the side effects of synthetic products is further expected to fuel the demand for organic and natural skin rash treatment products.

Moreover, surge in online purchase of skin rash treatment products owing to easy availability and convenience is also estimated to support the market growth over the coming years.

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Market Segmentations

Corticosteroids Treatment: Corticosteroids are expected to hold the largest share of the skin rash treatment market during the forecast period. Corticosteroids work by reducing inflammation and itching caused by skin conditions like eczema, psoriasis, and hives.

Immunosuppressants Treatment: Immunosuppressants are projected to witness the highest growth in the skin rash treatment market. Conditions like eczema that cause chronic inflammation can sometimes become resistant to conventional corticosteroid treatment.

Key Market Takeaways

The global skin rash treatment market size is anticipated to witness a CAGR of 6.5% during the forecast period 2024-2031. Due to the high and growing prevalence of skin rashes across all age groups.

On the basis of treatment type, the corticosteroids segment is expected to hold a dominant position, owing to their widespread adoption as first-line therapy due to effectiveness and easy availability.

Based on skin rash type, the contact dermatitis segment is anticipated to lead the market, as it is one of the most common types of skin rashes caused by various allergens and irritants.

By distribution channel, hospital pharmacies are projected to dominate the market since patients often require prescription medications which are conveniently available at these medical facilities.

Regionally, North America is expected to hold the largest share over the forecast period, due to the rising awareness about skin diseases, developed healthcare infrastructure, and presence of major players.

Competitor Insights

Key players in the skin rash treatment market include:

• Amgen
• Sun Pharmaceutical Industries
• Teva Pharmaceuticals Industries
• Eli Lilly and Company
• Mylan N.V
• Johnson & Johnson
• Leo Pharma
• Novartis AG
• AbbVie
• Merck & Co.

Skin Rash Treatment Industry News

In April 2024, Dermavant Announces U.S. FDA Acceptance of Supplemental New Drug Application (sNDA) for VTAMA (tapinarof) Cream, 1% for the Treatment of Atopic Dermatitis in Adults and Children 2 years and older.

In January 2024, Pfizer and Glenmark launched a new atopic dermatitis drug, abrocitinib, which has received marketing authorization from the Central Drugs Standard Control Organization in India and approval from the US Food and Drug Administration (FDA), European Medicines Agency (EMA), and other regulatory agencies.

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Detailed Segmentation:

By Treatment Type:

• Corticosteroids
• Immunosuppressants
• Antihistamines
• Antifungals
• Others

By Skin Rash Type:

• Contact Dermatitis
• Atopic Dermatitis
• Psoriasis
• Seborrheic Dermatitis
• Others

By Distribution Channel:

• Pharmacies
• Retail Stores
• Others (Hypermarkets, etc.)

By Region:

• North America
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa

Have a Look at Trending Research Reports on Pharmaceutical Domain:

Global Barth Syndrome Treatment Market is estimated to be valued at USD 141.10 billion in 2024 and is expected to reach USD 336.11 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.

Global over the counter pain medication market is estimated to be valued at USD 27.12 Bn in 2024 and is expected to reach USD 35.50 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

Global online therapy services market is estimated to be valued at USD 9.68 Bn in 2024 and is expected to reach USD 24.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.

Global joint pain injections market is estimated to be valued at USD 5.29 Bn in 2024 and is expected to reach USD 9.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Follow Us: LinkedIn | Twitter

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights

Phone:
US: +1-650-918-5898
UK: +44-020-8133-4027
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

New York, United States, Oct. 09, 2024 (GLOBE NEWSWIRE) — Due to their innumerable features, flow meters are expeditiously being used in coal-fired, fuel oil and natural gas, geothermal, hydroelectric, and nuclear power plants. The use of flow meters has increased as laws regulating the control of toxic gas emissions from power plants have become more stringent.

Flow meters are in high demand for monitoring and measuring the flow of steam, gas, water, chemicals, and mineral oil, among other things. These meters deliver much accuracy in terms of optimal and cost-effective quantity during flow measurement. In terms of processing control, they are advantageous.

Download Free Sample Report PDF @ https://straitsresearch.com/report/flow-meters-market/request-sample 

Market Dynamics

Rise in Applications in Oil & Gas Industry to Drive the Global Market

The oil and gas category includes offshore and onshore oil and gas exploration, production, and refining facilities, refineries, pipelines, petrochemical units, gas pipelines, and storage terminals. In both the upstream and downstream sections of the oil and gas industry, preventive coatings are utilized to transport oil and gas to refineries. This industry uses anti-corrosion, heat-resistant, abrasion-resistant, fire-resistant, and other types of protective coatings.

The industry has been looking for ways to cut costs. This, combined with the need to adhere to strict environmental regulations, has led to a willingness for a long-lasting barrier layer that effectively preserves assets.

Moreover, major contributors to the oil and gas industry’s growth include the United States, Saudi Arabia, Russia, China, and Canada, among others.

Technological Advancements to Generate New Opportunities for the Global Market

In terms of digital transformation, the sensors in the equipment have also seen rapid advancements. Several major market players are investing heavily in research and development. These operations are also anticipated to assist them in developing products that meet the needs of various industrial facilities and end-use applications.

Significant developments in flow meter technology include digital signals for flow meters, multiple measurement formats, online diagnosis and troubleshooting, remote calibration and configuration, and smart sensors with online warnings.

Because of scientific advances made possible by solid r and d, the industry has also been capable of creating adequate solutions to complex operating problems. One of the issues that the flow meter operations have to interact with on a regular basis is cleanliness. The emergence of automated cleaning is one of the market’s breakthrough trends. This trend is especially advantageous to market segments such as water and wastewater management.

Furthermore, the advent of computer processing has had a positive impact on the way these flow meters function. The access to low-cost memory chips that can sequence data at high speeds and handle large amounts of data could be beneficial in a market like this. With the increased use of software programs, precise measurements and the factors controlling a wider range of gases and liquids are expected.

Regional Insights

Over the forecast period, the North American flow meters market is projected to expand significantly. The United States is the region’s major contributor to growth. As for the advanced oil and gas, chemicals, and power generation industries, the North American region is expected to maintain a huge market share. The renewable energy generation sector in North America is anticipated to continue investing heavily in new projects. The hydropower sector is expected to grow from 101 GW to around 150 GW by 2050, pertaining to the US Department of Energy (DOE). 

Asia-Pacific is the fastest-growing flow meters market. The Asia-Pacific flow meters market is predicted to be worth USD 27,793 million by 2030, increasing at a 4% CAGR. Most Asian vendors use cost-cutting as a competitive advantage, which means they frequently sacrifice high quality. The region’s prominence in global sensor production benefits them in the market under investigation.

Panasonic introduced its new Ultrasonic Gas Flow Sensor in January 2020, adding emerging innovations to its vast specialty sensor product portfolio. This new sensor is a tiny, dual-function ultrasonic gas flow sensor that can quantify gas flow and density at flow rates varying from 1 to 25 liters per minute. It was previously only available as a Panasonic direct technology product.

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Competitive Players

1. Yokogawa Electric Corporation
2. ABB Ltd, Siemens AG
3. Bronkhorst High-Tech BV
4. Honeywell International Inc.
5. SICK AG
6. Omega Engineering Inc. (Spectris PLC)
7. Christian Bürkert GmbH & Co. KG
8. TSI Incorporated
9. Keyence Corporation
10. Emerson Electric Co.
11. Sensirion AG
12. Azbil Corporation
13. Endress+Hauser AG
14. KROHNE Messtechnik Gm

Segmentation

1. By Technology
   1. Coriolis
   2. Electromagnetic
   3. Differential Pressure
   4. Ultrasonic
   5. Positive displacement
   6. Turbine
   7. Magnetic (In-Line, Insertion, Low flow)
   8. Vortex
   9. Others
2. By End-User
   1. Water & wastewater
   2. Refining & petrochemical
   3. Oil & gas
   4. Chemical
   5. Power generation
   6. Pulp & Paper
   7. Food & Beverage
   8. Pharmaceutical
   9. Metals & Mining
   10. Others
3. By Application
   1. Water & Wastewater
   2. Oil & Gas
   3. Chemicals
   4. Power Generation
   5. Pulp & Paper
   6. Food & Beverage
   7. Others
4. By Type
   1. Electric
   2. Solar
   3. Battery Powered
5. By Size
   1. 2 inches
   2. 4 inches
   3. 6 inches
   4. More than 6 inches
6. By Region
   1. North America
   2. Europe
   3. APAC
   4. LATAM
   5. MEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/flow-meters-market/segmentation 

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Burlingame, Oct. 09, 2024 (GLOBE NEWSWIRE) — The global energy transition market Size to Grow from USD 2.83 trillion in 2024 to USD 5.42 trillion by 2031, at a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Growing policy support and target setting is translating to huge capital expenditure towards large-scale renewable energy projects. Renewable energy installations have been growing at a healthy double-digit rate over the past few years.

Request Sample of the Report on Energy Transition Market Forecast 2031: https://www.coherentmarketinsights.com/insight/request-sample/7433

Market Dynamics

The rising investments in renewable energy and favorable government policies supporting renewable energy adoption. These are the major factors responsible for the projected high growth of the energy transition market. Various governments worldwide are implementing supportive policies and offering attractive subsidies to promote renewable energy adoption.

Market Trends

With the constant decline in the costs of renewable energy technologies, the energy mix is widening rapidly to include various renewable sources other than just solar and wind. Geothermal, hydro, biomass and hydrokinetic energy sources are gaining traction in both developed and developing economies.

Energy Transition Market Report Coverage

The deployment of advanced energy storage technologies such as lithium-ion batteries, and pumped hydro storage is growing significantly. This plays a crucial role in improving the grid reliability through load balancing and provides backup during power outages caused by intermittent renewable sources. The increasing collaboration between pure-play energy storage and solar plus storage developers is also a prominent trend.

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Market Opportunities

The renewable energy segment is expected to offer a major opportunity in the energy transition market. It is growing at a CAGR of over 12% during the forecast period. Renewable sources like solar and wind are becoming more cost competitive compared to traditional fossil fuels and their deployment. It is being strongly encouraged through policies and incentives around the world. Investments in renewable energy infrastructure are increasing globally.

The energy storage technology segment is poised to witness significant growth in the coming years. With increasing proportions of intermittent renewable sources like solar and wind being added to the grid, energy storage technologies play a vital role in solving the issue of fluctuating power supplies. Battery energy storage systems, in particular, are anticipated to experience exponential uptake, growing at over 20% annually through 2031.

Key Market Takeaways

The global energy transition market to witness a CAGR of 9.7% during the 2024-2031. Due to the strong policy push for decarbonization of energy systems around the world.

On the basis of energy source, the renewable energy segment would hold a dominant position, accounting for over 35% of the market by 2031. Due to declining costs and better environmental credentials of solar, wind, and other renewables.

By technology, energy storage systems, especially batteries, are expected to grow at over 20% CAGR through 2031. Due to increased need for reliable power supply complementing rising renewable energy addition.

Based on application, the residential sector will dominate. Due to individual prosumers increasingly adopting rooftop solar PV and battery storage solutions. 

Regionally, North America is expected to hold a dominant position over the forecast period, with over 30% market share in 2031. This can be attributed to supportive policies promoting clean energy adoption in the US and Canada.

Key players operating in the market include Duke Energy Corporation, Southern Company, and ENEL. These companies are investing heavily in renewable assets, modernizing infrastructure, and energy storage to transition away from fossil fuels. Partnerships and M&A activity in the sector are also on the rise globally.

Energy Transition Industry News

In January 2022, India has announced it aims to reach net zero emissions by 2070 and to meet 50 per cent of its electricity requirements from renewable energy sources by 2030.

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Detailed Segmentation-

Energy Source Insights (Revenue, US$ Tn, 2019 – 2031)

• Renewable Energy
• Non-Renewable Energy

Technology Insights (Revenue, US$ Tn, 2019 – 2031)

• Energy Storage Systems (Batteries, Pumped Hydro)
• Electric Vehicles (EVs)
• Smart Grids
• Carbon Capture and Storage (CCS)

Application Insights (Revenue, US$ Tn, 2019 – 2031)

• Power Generation
• Transportation
• Industrial
• Residential
• Commercial

Regional Insights (Revenue, US$ Tn, 2019 – 2031)

• North America
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa

Have a Look at Trending Research Reports on Energy Domain:

Global offshore wind energy market size is expected to reach US$ 70.38 Bn by 2031, from US$ 33.98 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 12.9% during the forecast period (2024-2031)

Global hydrogen energy storage market is estimated to be valued at USD 16.70 Bn in 2024 and is expected to reach USD 22.89 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

Global energy storage as a service market is estimated to be valued at USD 1.81 Bn in 2024 and is expected to reach USD 3.71 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.

Global hybrid power system market is estimated to be valued at USD 704.2 Mn in 2024 and is expected to reach USD 1,072.9 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

Global Solar PV Panels Market is estimated to be valued at USD 183.14 Bn in 2024 and is expected to reach USD 305.81 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Follow Us: LinkedIn | Twitter

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights

Phone:
US: +1-650-918-5898
UK: +44-020-8133-4027
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com