The global cryogenic equipment market is growing competently, expected to grow at a CAGR of 7.4% during the estimated period from 2019 to 2027, starting from US$ 16.59 Bn in 2018. Natural gas based cryogenic equipment market is expected to hold a market share of around 32% in 2018, thereby driving the market growth globally. In addition, substantial availability of natural gas across developing countries such as China, Argentina, India, along with abundant untapped reservoirs favored by the U.S. will boost the industry growth.
Globally, the crawler tractors market is expected to grow with a CAGR of more than 7% during the forecast period from 2019 to 2027, starting from US$ 2.10 Bn in 2018. Globally, infrastructure development is at rise. This has generated demand for robust and sturdy machinery that would help conduct the activities at ease. Numerous government initiatives with an aim of upgrading the existing infrastructures generating a high demand for advanced machines in the construction sector.
Globally, the crawler excavator market is expected to grow with a CAGR of 2.5% during the forecast period from 2019 to 2027. The increasing industrialization and urbanization across the globe is the primary factor driving the demand for crawler excavators. As the industrialization across the emerging countries is increasing, the rural population is swiftly shifting from the remote areas to the cities in search of jobs and better life style.
The crawler camera systems market worldwide is expected to grow with a CAGR of 6.70% during the forecast period from 2019 to 2027. Crawler camera systems market is expected to witness tremendous growth in the near future due to rise in industrialization and growth in infrastructure development. The adoption of crawler camera systems has increased due to their faster and efficient pipeline inspections.
The converged infrastructure market worldwide is estimated to expand with a CAGR of 18.6% over the period from 2019 to 2027, starting from US$ 16.5 Bn in 2018. Growth of cloud services market and IT industry to boost the demand for converged infrastructure market. Organizational shift towards self-service model from self-managed, self-owned hardware model is also helping the market growth. Growing IT needs towards cloud-based services is another factor for the market growth. Reduce complexity, eliminated hardware related issues and other benefits of converged infrastructure to boost the market demand.
The content analytics market worldwide is projected to grow with a CAGR of 21.5% during the forecast period from 2019 to 2027, starting from US$ 2.34 Bn in 2018. Rising adoption of advanced analytics and growing business content will drive the content analytics market. Rising adoption of content analytics in the various industries such as healthcare, media & entertainment, retail, telecom, travel and others, is another major factor for the market growth. Convergence of text analytics with Big Data is another major reason driving the market.
The contactless payment transaction market worldwide is expected to grow with a CAGR of 43.7% during the forecast period from 2019 to 2027, starting from US$ 14.8 Bn in 2018. Rising adoption of cashless transaction and growing internet penetration will drive the contactless payment transaction market worldwide. Introduction of new technologies such as NFC or RFID for safe and secure payments are one of the key factors for the market growth. Increasing adoption of smart devices includes smart watches, tablets, smartphones and others is one of the important factor for the market growth.
Globally, the connected retail market is expected to grow with a CAGR of 20.6% during the forecast period from 2019 to 2027 and had registered a market value of US$ 15.40 Bn in 2018. Connected retail is defined as a connection between the customer and the retail stores with the help supply chain, personalized marketing, varied payment options, a combination of the physical store and digital experience, and allowing the capability to employees to collaborate more effectively.
The global connected agriculture market was accounted at US$ 1.7 Bn in 2018 and is projected to witness significant growth, growing with CAGR of 16% across the forecast period from 2019 to 2027. Connectivity is the cornerstone of technological transformation that has been taking place across the globe. Connected agriculture aims to provide optimum production with minimal resources. According to FAO, population of the world is more than 7 billion today and is likely to reach 9.1 billion by 2050.
In 2018, the global conferencing services market was valued at US$ 13.99 Bn and is expected to grow at a CAGR of 5.6% during the forecast period from 2019 to 2027. Expansion of mobile workforces, globalization of businesses and flexibility at workplaces are the major factors driving the global conferencing services market growth. Conferencing services have several benefits comprises cost effective, saves time, increases efficiency and productivity and others.
The computer graphics market worldwide is set to expand with a CAGR of 7.0% over the estimation period from 2019 to 2027, starting from US$ 162.0 Bn in the year 2018. The demand for new and innovative technologies in the global market is the most prominent aspect driving the computer graphics market. Computer graphics are the visual representation of data displayed on the monitor or screen. Thus, they have enhanced the mode of communication between computers and users.
The global companion animal health market accounted for US$ 14.5 Bn in 2018 and is likely to witness growth, with a CAGR of 6.0% across the forecast period from 2019 to 2027. With the rising companion animal ownership population, owners are concerned about companion animal health and nutrition, and thereby seeking various veterinary services. Which in turn, is increasing demand for diversified companion healthcare products such as, vaccines, feeding products, nutritional supplements and drugs for various diseases.
In 2018, the global commercial vehicles market was estimated at US$ 1.05 Tn and is expected to grow at a CAGR of 6.2% throughout the forecast period from 2019 to 2027. Development of global economy, expansion of logistics industry and improved road infrastructure globally are the major key factors for global commercial vehicles market growth. As per OICA, around 5% more vehicles was sold in 2018 as compared to 2017.
The combi ovens market worldwide is likely to grow with a CAGR of 10.6% throughout the forecast period from 2019 to 2027. Continued growth in the food industry is the major driving factor for combi ovens market. Combi ovens are designed with all the three techniques (convection, steam and both) in one machine for cooking. Growing penetration of microwave ovens is also one of the promising factors driving the combi ovens market.
The global collagen meniscus implant (CMI) market is witnessing a steady growth, expected to grow at a CAGR of 5.3%. Globally, the increasing commonness of arthritis, sports injury, and numerous bone disorders will drive the overall market growth. Collagen meniscus implants are completely absorbable implant and biological, made from purified collagen. It is specifically designed to faciliate the growth of new tissue. For e.g. Stryker Collagen Meniscus Implant (CMI®).
The Coin Cell Batteries market worldwide is expected to grow with a CAGR of 0.45% during the forecast period from 2019 to 2027. Coin Cell Batteries market worldwide is witnessing a sluggish pace since the past few years and stood at USD 3.89 Bn in 2018. Coin cell batteries are button shaped have low self-discharge. The batteries have long shelf life, are reliable and consistent. Zinc and lithium are commonly used anodes in coin cell batteries.
Globally, the cognitive assessment and training market is expected to grow with a CAGR of 32.0% during the forecast period from 2019 to 2027, up from US$ 3.42 Bn in 2018. This market growth is attributed to the increasing elderly population across the globe. The population aging more than 60 years is growing rapidly worldwide. In 2015, more than 600 Mn populations across the globe were aging more than 60 years and it is estimated to increase cross the 2 Bn mark by 2050. The sudden increase in the life expectancy rate and sudden decline in the infertility rate is driving the growth of the geriatric population.
The cloud- based language learning market worldwide is set to grow with a CAGR of 10.4% during the estimation period from 2019 to 2027, starting from US$ 150.8 Mn in 2018. Growing education industry and rising cloud- based services penetration worldwide to enhance the demand for the market. Increasing investments by corporates for the training of their employees is also one of the key factors for the market growth. The benefits of cloud- based language learning such as flexibility, less cost, easy setup and others are helping the market growth. As a consequence, we expect that the market will show huge growth over the forecast period.
The global cloud service brokerage market was valued at US$ 5.03 Bn in 2018 and is anticipated to grow to US$ 19.44 Bn growing at a CAGR of 16.4% throughout the forecast period from 2019 to 2027. The proliferation in demand of cloud has bolstered the number of cloud providers and has opened a space for cloud brokerage services.
Globally, the clad pipe market is expected to grow with a CAGR of more than 5.8% during the forecast period from 2019 to 2027, starting from US$2.2 Bn in 2018. Clad pipes are made by welding the pipe with clad material. This process is done mainly to increase the strength of the pipe, reduce corrosion, and achieve maximum cost benefits. The clad pipes are mostly used in oil and gas industry to withstand the high-pressure and high temperature environment. The primary factor associated with increased utilization of clad pipes is concerns regarding corrosion.