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Agriculture Industry Overview 2023-2032: Forecast Growth Rate And Major Drivers, By The Global Market Model

A Comprehensive Overview of the Global Agriculture Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The agriculture market continues to display stable forecasts, maintaining consistency with the previous projections at the end of 2022. The impact of high input costs on feeds and fertilizers due to inflation has led to short-term increases in the prices of end products, a factor that was already accounted for in our previous forecast update. As a result, our forecasts for this market have remained stable during this update cycle. The global agriculture market is bolstered by various factors, including high demand for high-quality agricultural products, increasing health and fitness awareness, rising disposable incomes, growing consumption of animal proteins, a fast-expanding population, and favorable government initiatives.

Global agriculture industry statistics

In 2022, the global agriculture market was valued at an impressive $12205.6 billion, contributing to 12.2% of the global GDP. The crop production market stood out as the largest segment of the agriculture market, constituting 43% of the total market share in 2022. China emerged as the leading market in the agriculture industry, capturing 26.5% of the total market share in the same year.

What will the agriculture market growth rate be in the forecast period?

Looking ahead, the agriculture market is anticipated to exhibit robust growth at a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2032. Several factors are set to drive market growth in this period, including:

• Increasing use of biomass
• Increase in veganism
• Rising demand for natural sweeteners

The market intelligence database also offers insights on the following key industry indicators for the agriculture industry -

• Arable land
• Livestock population
• Poultry population
• Area cultivated for grains
• Area cultivated for oil seeds
• Area cultivated for vegetables
• Area cultivated for fruits
• Number of enterprises
• Number of employees

Global Market Model - The world's most comprehensive database

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Chemical Industry Outlook - Growth Propelled by Surging Raw Material Prices, By The Global Market Model

A Comprehensive Overview of the Global Chemical Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The chemicals market is poised for robust growth, with the Global Market Model forecasting a compound annual growth rate (CAGR) of 8.9% during the period 2022 to 2032. The market's expansion is fueled by increasing demand from diverse applications, notably in the packaging and automobile industries. The Global Market Model provides comprehensive insights into the chemicals market's growth trajectory, shedding light on its current valuation, key segments, and regional dominance.

Future Of Chemical Industry - Stable Projections and Influential Factors

The Global Market Model's chemical industry analysis maintains a largely stable outlook, consistent with the previous projections at the end of 2022. Factors like inflation, economic headwinds, the impact of the Russia-Ukraine war, and supply chain disruptions leading to increased raw material prices and end product prices were diligently considered during the previous forecast update. The anticipated stabilization of prices in the long term, along with stable oil prices in recent months, contributes to the continuity of our forecasts for this market during this update cycle.

Global Chemicals Overview - Market Size and Key Drivers

In 2022, the global chemicals market was valued at an impressive $4,688.4 billion, contributing to 4.7% of the global GDP. Several key drivers bolster the industry's growth, including

• high demand from end-use industries
• rapid urbanization rates
• presence of a large agriculture industry in both developed and developing countriess
• strong regulatory emphasis on effective pollution monitoring and control
• large consumer populations in developed and developing countries
• rapid economic growth
• surge in industrialization

The ethyl alcohol and other basic organic chemical market emerged as the largest segment, accounting for 25.4% of the total market share in 2022. China solidified its position as the leading market in the chemicals sector, capturing 22.8% of the total market share in the same year.

Global Market Model - The world's most comprehensive database

The Global Market Model, The Business Research Company's flagship product, is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated every six months on the basis of economic, geo-political and sector-specific factors. The latest forecast, made in June 2023, builds on the previous projections from December 2022, providing up-to-date, reliable information for businesses to strategize and make informed decisions.

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Construction Industry Forecast 2023-2032 - Market Size, Growth Rate, And Top Drivers, By The Global Market Model

A Comprehensive Overview of the Global Construction Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The global construction industry growth remained relatively stable since the previous forecast of end 2022, despite the potential impact of recessionary pressures on construction activities. Our updated forecasts considered the existing low housing prices caused by high interest rates and limited mortgages. However, short-term projections indicate that persistently high interest rates might negatively affect the market, particularly the demand for construction activities amid the recessionary environment.

Construction industry value

The global construction market was valued at $14390.8 billion in 2022. The market accounted for 14.4% of the global GDP. Global Market Model, in its latest forecast for the construction market, expects the market to grow at a compound annual growth rate (CAGR) of 5.8% during 2022 to 2032. Following factors are expected to drive the market:

• Increasing infrastructure development expenditure by governments
• Green construction
• Rise in industrialization

This growth is supported by a sizable consumer population in both developed and developing countries, who heavily invest in housing sectors, commercial properties, and other construction-related ventures. Developing countries, in particular, are directing substantial investments towards enhancing their existing infrastructure and creating economic corridors to attract Foreign Direct Investments (FDIs), thereby boosting the global construction sector.

Largest construction industry segment and region

The buildings construction market constituted the largest segment, accounting for 48.1% of the total construction market in 2022, while the USA emerged as the leading market with a 21.7% share of the global construction industry during the same year.

Gain exclusive insights with The Global Market Model, on the key industry metrics of the construction industry such as -

• Number of households
• Construction spending
• Number of new households
• Number of enterprises
• Number of employees

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Electrical And Electronics Industry Overview 2023-2032: Market Size, Growth Rate And Drivers, By The Global Market Model

A Comprehensive Overview of the Global Electrical And Electronics Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

Despite facing certain economic headwinds, the current forecast for the electrical and electronics market remains largely stable compared to the previous end-2022 forecast. Our team has meticulously considered factors such as the impact of the Russia-Ukraine war and squeezed consumer spending due to inflation and recessionary pressures during the previous forecast update. Furthermore, supply chain disruptions affecting semiconductors and chips, which subsequently led to short-term price increases for these products, were also thoroughly accounted for in our previous update. Consequently, our forecasts for this market remain stable throughout this update cycle.

Electrical and Electronics Industry Size

The global electrical and electronics market was valued at an impressive $3497.3 billion in 2022, contributing to 3.5% of the global GDP. Per capita consumption in this industry accounted for $447.3.

Growth Projections for the Forecast Period

Anticipated to experience a robust growth rate, the electrical and electronics market is expected to achieve a compound annual growth rate (CAGR) of 6.7% during the period from 2022 to 2032. The proliferation of technological advancements, including the Internet of Things (IoT), virtual reality technology, advanced sensor technologies, and the revolutionary 5G communication technologies, will serve as key drivers fueling this market's growth throughout the forecast period.

Top Segments and Regions for Electronics Industry Companies

Among the various segments in the electrical and electronics market, the electrical equipment segment emerged as the largest, commanding a significant 43.1% share of the total in 2022. China, a global economic powerhouse, led the way as the dominant market in the electrical and electronics industry, claiming a substantial 24.2% share of the total in 2022.

With these valuable insights, the Global Market Model equips electronics industry companies with the knowledge needed to make informed decisions and capitalize on emerging opportunities in this rapidly evolving market landscape

The Global Market Model also offers insights on the following key industry indicators for the electrical and electronics industry -

• Number of enterprises
• Number of employees

The Global Market Model, the largest database of market forecasts, continuously updates over 7000 markets each quarter. These updates are based on economic, geo-political, and sector-specific factors. The latest forecast, made in June 2023, has revised the previous predictions from December 2022.

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Overview Of The Financial Services Industry - Growth Expected with Rise in Interest Rates, Strengthened Banking Sector, and Increased Interchange Fees, By The Global Market Model

A Comprehensive Overview of the Global Financial Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model's latest forecast for the financial services market estimates the market to grow at a promising rate (CAGR) of 8.3% from 2022 to 2032.

The current forecast for the financial services market remains largely stable compared to the previous projection at the end of 2022. During the previous update, the Global Market Model took into account significant factors that could influence the market's trajectory. These factors included inflationary pressures leading to increased interest rates, upsurges in banking and interchange fees, and a decline in investment banking revenues due to a dearth in Initial Public Offerings (IPOs).

Furthermore, the decrease in investments driven by constrained discretionary income and the looming shadow of recessionary pressures were also considered in the previous forecast update. The careful consideration of these factors contributes to the stability of the market forecasts during this update cycle.

Financial Services Industry Statistics

Per Global Market Model's latest forecast made in December 2022, the global financial services market was valued at $25990.6 billion in 2022, accounting for 26% of the global GDP. This forward momentum is underpinned by a confluence of key factors driving the industry's expansion during the forecast period.

The factors such as increasing wealth of high-net-worth individuals, rising demand for alternative investments, increasing use of block chain to reduce fraudulent transactions and increase in home ownership and mortgages are expected to drive the market during the forecast period.

Largest segment and region in the financial services market

The lending and payments market was the largest segment of the financial services market, accounting for 33.8% of the total in 2022.The USA was the leading market in the financial services market, accounting for 24.3% of the total in 2022.

The Global Market Model further provides insights on the following key indicators of financial services market to help you analyze further in detail:

• Number of enterprises
• Number of employees

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Global Food And Beverages Industry 2023 Analysis: Forecast Growth Rate And Major Drivers, By The Global Market Model

A Comprehensive Overview of the Global Food And Beverage Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

Global Market Model, in its latest forecast for the food and beverages market, expects the market to grow at a compound annual growth rate (CAGR) of 6.4% during 2022 to 2032. Factors such as increasing demand for individual quick freezing (IQF), increasing organic food consumption, demand for convenience foods, and the use of advanced cigarette filter technologies are expected to drive the food and beverages industry growth during the forecast period.

What is the market size for food and beverages?

Per the Global Market Model's analysis, the global food and beverages market was valued at $6702.4 billion in 2022, accounting for 6.7% of the global GDP. The meat, poultry and seafood market was the largest food and beverages industry segments, accounting for 22.2% of the total in 2022. China was the leading market in the food and beverages market, accounting for 19.5% of the total in 2022.

The market is expected to grow at a compound annual growth rate (CAGR) of 6.4% during 2022 to 2032. This rise in food and beverages industry demand can be attributed to:

• Increase in demand for individual quick freezing
• Increase in organic food consumption
• Demand for convenience foods
• Use of advanced cigarette filter technologies

Food and beverages industry forecast

The forecast remains largely stable from the previous forecast of end 2022. The supply chain disruptions for wheat, sunflower seed, barley, and maize due to Russia-Ukraine conflict and high inflation led to increased prices of consumer goods in the short-term, were already taken into account during previous forecast update. We also anticipated the prices to be stabilized in the long term with easing supply chain pressures during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model offers insights on the following key industry indicators for the food and beverages industry -

• Number of enterprises
• Number of employees
• Livestock primary meat

Learn more about key factors driving food and beverages market growth with Global Market Model, the world's most comprehensive database of integrated market information - https://www.thebusinessresearchcompany.com/global-market-model/demo-request

Global Market Model - The world's largest database of market forecasts

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Healthcare Services Industry Overview - Increased Medical Care Prices Due to Inflation Will Drive Growth, By The Global Market Model

A Comprehensive Overview of the Global Healthcare Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

As per the Global Market Model, the forecast for the healthcare services industry remains largely stable from the previous forecast of end 2022.The factors such as economic headwinds and inflation which led to increased medical care services prices due to increasing operations, supplies, administration, and labor costs, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The global healthcare providers and services industry is supported by large technological advances that make services affordable, increased medical tourism, rapid population growth, high per-capita income, strong healthcare expenditure in developed countries, government initiatives, and a high prevalence of diseases such as Alzheimer's and Parkinson's among the elder population globally.

Key healthcare industry statistics

• Healthcare industry worth - the global healthcare services market was valued at $7662.3 billion in 2022
• Healthcare industry growth rate - the market is expected to grow at a compound annual growth rate (CAGR) of 5.7% during 2022 to 2032
• Healthcare services industry consumption - the market accounted for 7.7% of the global GDP
• In terms of per capita consumption, the market accounted for $980

Major drivers propelling growth

• Technology advancements in diagnostics and therapeutic equipment
• Improvement in survival rates and quality of life

Top segment and region

The hospitals and outpatient care centers market was the largest segment of the healthcare services market, accounting for 53.7% of the total in 2022. USA was the leading market in the healthcare services market, accounting for 38.5% of the total in 2022.

The Global Market Model also offers insights on the following key industry indicators the healthcare services industry -

Global Market Model - The world's most comprehensive database

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Hospitality Industry 2023 Analysis: Market Size, Growth Rate and Leading Regions, By The Global Market Model

A Comprehensive Overview of the Global Hospitality Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

Hospitality Industry Demand

Per the latest forecast by Global Market Model, the global hospitality industry reached a staggering valuation of $4,367.2 billion in 2022, making up 4.4% of the global GDP. On a per capita basis, the industry's worth stood at $558.5, highlighting its significant impact on economies worldwide.

Hospitality industry growth

The hospitality industry is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 6.1% from 2022 to 2032. Numerous compelling factors fuel this remarkable expansion, including:

• 1. Rise in Solo Traveling - The emerging trend of solo adventures propels demand for hospitality services.
• 2. Visa Regulations Liberalization - Easing visa regulations in multiple countries attract more tourists.
• 3. Demand for Convenience Foods - Increasing preference for quick and convenient dining options elevates market growth.
• 4. Global Mobility for Work - Growing work-related travel contributes to the industry's upward trajectory.

Dominant Hospitality Industry Segments and Leading Players

Within the dynamic hospitality market, the food and beverage services segment held a commanding position, capturing an impressive 80.9% share in 2022. Additionally, the USA stood out as the leading market in the industry, accounting for 23.9% of the total market in the same year.

Hospitality Industry Forecast For The Coming Years

The forecast for the hospitality market remains stable, with no significant changes from the previous update in 2022. Factors such as high inflation, impacting hotel prices, travel fares, and food costs at establishments, were already considered in the earlier forecast. Additionally, the effects of less discretionary income, the cost-of-living crisis, and lower saving rates leading to reduced spending on hospitality services were also taken into account. As a result, our hospitality industry outlook remained similar and steady during this update cycle.

GMM provides insights on the key industry indicators of the hospitality industry including -

On The Global Market Model, forecasts for over 7000 markets are updated every six months on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Information Technology Industry Analysis - Expected Market Growth Rate More Than 8% During The Forecast Period 2022-2032, By The Global Market Model

A Comprehensive Overview of the Global Information Technology Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model, the world's most comprehensive database of integrated market information, is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated every six months based on economic, geopolitical and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

Global Information Technology Market: A Steadfast Growth Trajectory

The Global Market Model's latest forecast for the IT industry reveals promising growth prospects:

• 1. Robust CAGR of 8.2%: The global information technology market is projected to experience a robust compound annual growth rate (CAGR) of 8.2% from 2022 to 2032.
• 2. Impressive Valuation: In 2022, the IT market was valued at a remarkable $8,006.3 billion, contributing significantly to the global GDP with a share of 7.9%.
• 3. Dominant Segments: Among the segments within the IT industry, the IT services market took the lead, accounting for a substantial 40.5% of the total market in 2022.
• 4. Leading Market: The USA emerged as the leading market in the information technology sector, commanding an impressive 27.7% share of the total market in the same year.

Driving Forces: Unleashing the Potential of IT Industry

The forecast period is driven by a multitude of transformative factors, including:

• 1. IoT Technology Adoption: The increasing adoption of IoT technology across industries propels market growth.
• 2. Rising E-commerce Penetration: The surge in e-commerce adoption fuels demand for IT services and solutions.
• 3. Investments in Smart Cities: Growing investments in smart city projects spur the demand for innovative IT solutions.
• 4. Emergence of AI, AR/VR, and Blockchain: The widespread use of AI, AR/VR, and blockchain technologies across various sectors boosts the IT market's expansion.
• 5. Data Security Solutions: The anticipated rise in spending on data security solutions addresses evolving cybersecurity challenges.
• 6. The Impact of 5G: The emergence of 5G technology accelerates rapid advancements in the IT industry.

Future of Information Technology Industry

The forecast has been slightly reduced by 0.25% from the previous forecast of end 2022. Due to budget constraints, and expensive technology costs, companies have reduced the amount spent on IT products and services, which is expected to restrain the market during this period. The demand for IT services has slowed down post pandemic which had slight negative impact on the market. It is estimated that over 150,000 people were laid off at some of the biggest US based technology companies in 2023, including Meta, Amazon, Alphabet, Microsoft, and Ericsson. AI is expected to be a transformative force in the IT market, which will drive growth through automation, advanced analytics, personalized experiences, cybersecurity enhancements, efficient infrastructure management, and innovation. However, we haven't considered this factor in our forecasts during this update cycle as its impact on the market is still uncertain.

The Global Market Model offers insights on the following key industry indicators for information and communication technology industry -

• Number of internet users
• Number of households with computers
• Number of smartphone users
• Number of households with broadband access
• Number of enterprises
• Number of employees

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Machinery Industry Outlook - Growth To Be Powered By Increased Raw Material Prices In The Short Term Due To Inflation, By The Global Market Model

A Comprehensive Overview of the Global Machinery Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

Per Global Market Model's latest forecast made in December 2022, stable forecast growth is expected for the machinery market over the next ten years. The market is expected to grow from $3531.9 billion in 2022 at a compound annual growth rate (CAGR) of 7% during 2022 to 2032.

The factors such as technological advances, digitization of machines, favourable government policies and growth from end user markets such as agriculture, automobile, construction industries are expected to drive the market during the forecast period.

Key highlights from the Global Market Model's machinery industry overview-

• The machinery market accounted for 3.5% of the global GDP
• The largest segment of the machinery market - agriculture, construction, and mining machinery market, accounted for 21.1% of the total in 2022
• China was the leading market in the machinery market, accounting for 22.6% of the total in 2022

How is the machinery industry poised to grow in the coming years?

The forecast remains largely stable from the previous forecast of end 2022. The factors such as high inflation, economic headwinds, impact of Russia-Ukraine war and increased raw material prices due to supply chain disruptions, which eventually led to increased prices of the end products in the short term, were already considered during our previous update. We also anticipated the prices to be stabilized in the long term with easing supply chain pressures during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

For the industrial machinery manufacturers, The Global Market Model provides insights on the key industry indicators including -

• Number of enterprises
• Number of employees

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Media Industry Overview - Growth Projections 2023-2032, By The Global Market Model

A Comprehensive Overview of the Global Media Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

Global Market Model, in its latest media and entertainment industry overview, expects the market to grow at a compound annual growth rate (CAGR) of 8.4% during 2022 to 2032. The growth is mainly attributed due to high forecast growth rates in web content, search portals and social media market.

Factors such as increase in the use of internet-accessible devices, increase in network speeds, and demand for high-definition video content are expected to drive the market during the forecast period.

Per the global market model's recent forecast, the global media market was valued at $2205.1 billion in 2022. The market accounted for 2.2% of the global GDP. The web content, search portals and social media market was the largest segment of the media market, accounting for 29.1% of the total in 2022. The USA was the leading market in the media market, accounting for 30.9% of the total in 2022.

Factors that are expected to drive the market include:

• Increase in the use of internet-accessible devices
• Increase in network speeds
• Demand for high-definition video content

The forecast remains largely stable from the previous forecast of end 2022. The companies spend on media services reduced due to budget constraints. The consumers spend on these services, reduced due to less discretionary income and cost-of-living crisis, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model provides insights on the following key industry indicators for the media and entertainment industry statistics for further in-depth analysis-

• Number of enterprises
• Number of employees

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Global Medical Equipment Industry Overview - Growth To Be Driven By Increased Prices With Inflation, By The Global Market Model

A Comprehensive Overview of the Global Medical Equipment Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The latest forecast for the medical equipment industry made in June 2023, by the Global Market Model provides the following key insights on the industry:

How much is the medical equipment industry revenue, and what are its key drivers?

The global medical equipment market was valued at $643.5 billion in 2022. The market accounted for 0.6% of the global GDP. The market is expected to grow at a compound annual growth rate (CAGR) of 8.4% during 2022 to 2032. Technological advancements such as 3D printing, robotics and minimally invasive surgery technologies parts are expected to drive the market during the forecast period.

Largest medical devices and equipment industry segments and region

The in-vitro diagnostics market was the largest segment of the medical equipment market, accounting for 14.9% of the total in 2022. The USA was the leading market in the medical equipment market, accounting for 28.9% of the total in 2022.

Medical equipment industry outlook for the coming years

The forecast remains largely stable from the previous forecast of end 2022. The factors such as inflation, economic headwinds, impact of Russia-Ukraine war and shortage of raw material such as electronic components, metals and plastics due to supply chain disruptions, which eventually led to increased prices of medical equipment, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model also offers insights on the following key industry indicators to spot key medical equipment industry trends -

Global Market Model - The world's most comprehensive database

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Metal And Mineral Industry Outlook - Stable Growth To Be Powered By Less Fluctuating Metal Prices, By The Global Market Model

A Comprehensive Overview of the Global Metal and Mineral Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated every six months on the basis of economic, geopolitical, and sector-specific factors.

The current forecast for the metal and mineral industry made in June 2023 provides the following key insights on the industry -

How much is the metal and mineral industry value, and what are its key drivers?

The global metal and mineral market was valued at $7453.9 billion in 2022. The market accounted for 7.4% of the global GDP. The market is expected to grow at a compound annual growth rate (CAGR) of 5.1% during 2022 to 2032. The factors such as increase in the use of aluminum as a lightweight and cheaper substitute, and high demand for copper from end-user industries are expected to drive the market during the forecast period.

Top metal and mineral segments and region

The metal market was the largest segment of the metal and mineral market, accounting for 52.5% of the total in 2022. China was the leading market in the metal and mineral market, accounting for 28.2% of the total in 2022.

Metals and mining industry analysis and forecast for 2022-2032

The latest forecast demonstrates stability, aligning closely with the previous update in 2022. Factors such as high inflation, economic headwinds, repercussions of the Russia-Ukraine war, and raw material price hikes resulting from supply chain disruptions were already taken into account during the previous update. The anticipated stabilization of prices in the long term, coupled with the easing of supply chain pressures, was also factored into the earlier forecast. As a result, our forecasts for this market remain steady and unwavering during this update cycle.

For further in-depth analysis, the Global Market Model offers insights on the following key industry indicators for the metals and mining companies-

• Number of enterprises
• Number of employees

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Mining Industry Overview - Stable Growth To Be Powered By Less Fluctuating Commodity Prices, By The Global Market Model

Mining Industry Overview - Stable Growth To Be Powered By Less Fluctuating Commodity Prices, By The Global Market Model

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022

Mining Industry Growth Potential And Drivers

As per the Global Market Model, the global mining market was valued at $2004.3 billion in 2022. The market is then expected to grow at a compound annual growth rate (CAGR) of 5.7% during 2022 to 2032. Following factors are expected to drive the global media market growth -

• Rise in infrastructure development
• Increase in the implementation of autonomous equipment
• Increase in construction projects

Mining Industry Growth Forecast

The forecast remains largely stable from the previous forecast of end 2022. The prices of crude oil stabilizing in the long term, were already taken into account during our previous forecast update. The average price of metals and non-metal such as copper, zinc, nickel, and iron has been in range bound for the last six months, hence our forecasts for this market remained stable during this update cycle.

The Global Market Model allows for further in-depth analysis on the mining industry trends through the following key industry indicators-

• Number of enterprises
• Number of employees

Stay ahead of your competitors with Global Market Model's latest and accurate forecast! Contact us now:

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Overview Of Oil And Gas Industry 2023 - Crude Oil And Natural Gas Prices To Stabilize The Market Growth, By The Global Market Model

A Comprehensive Overview of the Global Oil and Gas Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

As per the Global Market Model, the forecast for oil and gas industry remains largely stable from the previous forecast of end 2022. The spike in oil and gas prices due to Russia-Ukraine conflict, supply chain disruptions and prices of crude oil and natural gases stabilizing in the long term, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

Key insights covered in the Global Market Model's oil and gas industry overview include -

• Oil and gas industry worth - the global oil and gas market was valued at $6747.2 billion in 2022, accounting for 6.7% of the global GDP
• Oil and gas industry growth rate - the market is expected to grow at a compound annual growth rate (CAGR) of 5.1% during 2022 to 2032
• Drivers propelling the oil and gas industry market size - the factors such as rapid pace of innovation in the oil and gas exploration, drilling and refining technologies and advanced technologies to extract oil and gas from depleted reserves is expected to drive the market during the forecast period
• Top oil and gas industry segments and region - the oil & gas upstream activities market was the largest segment of the oil and gas market, accounting for 59.1% of the total in 2022 and the USA was the leading market in the oil and gas market, accounting for 15.6% of the total in 2022

The Global Market Model also offers insights on the following key industry indicators for the oil and gas industry -

• Oil reserves
• Gas reserves
• Active rigs
• Oil refinery throughput
• Oil refinery capacity
• Number of enterprises
• Number of employees

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The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Paper, Plastics, Rubber, Wood, And Textile Market Analysis: Forecast Growth Rate And Leading Regions, By The Global Market Model

A Comprehensive Overview of the Global Paper, Plastics, Rubber, Wood, and Textile Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model's forecast remains largely stable for the paper, plastics, rubber, wood and textile market from the previous forecast of end 2022. The factors such as high inflation, economic headwinds, impact of Russia-Ukraine war and increased raw material prices due to supply chain disruptions, which eventually led to increased prices of the end products in the short term, were already considered during our previous update. We also anticipated the prices to be stabilized in the long term with easing supply chain pressures during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The following are key takeaways from the Global Market Model's forecast for the paper, plastics, rubber, wood, and textile industry -

• The market is expected to grow at a compound annual growth rate (CAGR) of 7% during 2022 to 2032
• The factors such as rapid growth in ecommerce, increasing retail penetration in developing economies, technological advances and government initiatives are expected to drive the market during the forecast period
• The global paper, plastics, rubber, wood and textile market was valued at $6616.2 billion in 2022
• The market accounted for 6.6% of the global GDP
• The plastics and rubber products market was the largest segment of the paper, plastics, rubber, wood and textile market, accounting for 20.5% of the total in 2022
• The USA was the leading market in the paper, plastics, rubber, wood and textile market, accounting for 18.9% of the total in 2022

The Global Market Model also offers insights on the following key industry indicators for the paper, plastics, rubber, wood and textile industry -

• Number of enterprises
• Number of employees

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Pharmaceuticals Industry Overview - Growth Potential, Drivers And Top Segments, By The Global Market Model

A Comprehensive Overview of the Global Pharmaceuticals Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

As per the Global Market Model, the forecast for pharmaceuticals industry remains largely stable from the previous forecast of end 2022. The factors such as inflation, economic headwinds, impact of Russia-Ukraine war, and shortage of active pharmaceutical ingredients (API) due to the supply chain disruptions were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

What is the pharmaceutical industry size and forecast?

The global pharmaceuticals market was valued at $1610.7 billion in 2022. In terms of per capita consumption, the market accounted for $206. The market accounted for 1.6% of the global GDP.
The pharmaceuticals market is expected to grow at a compound annual growth rate (CAGR) of 6.8% during 2022 to 2032. The growth in the forecast period can be attributed to new emerging drug delivery methods such as microneedle patches, microchip technologies and adoptions of new technologies such as stem cells and organ chip technologies.

Pharmaceuticals industry largest segment and region

The anti-infective drugs market was the largest segment of the pharmaceuticals market, accounting for 15.4% of the total in 2022. USA was the leading market in the pharmaceuticals market, accounting for 42.6% of the total in 2022.

Gain exclusive insights with The Global Market Model, on the key industry metrics of the pharmaceuticals industry such as -

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The Global Market Model, The Business Research Company's flagship product, is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated every six months on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Professional Services Industry Overview - Market Size And Growth Rate, Major Drivers, And Leading Segments, By The Global Market Model

A Comprehensive Overview of the Global Professional Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

As per the Global Market Model, the forecast for the professional services market remains largely stable from the previous forecast of end 2022. The companies spend on professional services reduced drastically due to budget constraints and slower demand for professional services post-pandemic, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle. AI is expected to disrupt the professional services market with automation, advanced analytics, efficient infrastructure management, and innovation. However, we haven't considered this factor in our forecasts during this update cycle as its impact on the market is still uncertain.

Key highlights from the Global Market Model's forecast for the professional services industry are -

• The global professional services market was valued at $5932 billion in 2022
• The market accounted for 5.9% of the global GDP
• The professional services market growth is expected to be at a compound annual growth rate (CAGR) of 5.4% during 2022 to 2032
• The factors such as increasing investments in smart cities, regulatory reforms and financial reporting standards transition are expected to drive the market during the forecast period
• The design, research, promotional and consulting services market was the largest segment of the professional services market, accounting for 73.5% of the total in 2022
• The USA was the leading market in the professional services market, accounting for 33% of the total in 2022

The Global Market Model also offers insights on the following key industry indicators for the professional services industry -

• Number of enterprises
• Number of employees

The Global Market Model covers information on what factors are transforming the professional services industry, including key areas such as professional services market growth rate and market size, professional services industry trends and drivers, professional services industry challenges, and more across 60 geographies for the seven regions.

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The Recreation Industry Is Expected To Grow At 7% Annual Growth Rate Through 2023-2032, By The Global Market Model

A Comprehensive Overview of the Global Recreation Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

Key highlights from the Global Market Model's latest forecast on the entertainment and recreation industry made in June 2023 are -

• The global recreation market was valued at $1358 billion in 2022, accounting for 1.3% of the global GDP
• The recreation market is expected to grow at a compound annual growth rate (CAGR) of 7% during 2022 to 2032
• In terms of per capita consumption, the recreation market accounted for $173.7
• The amusements market was the largest segment of the recreation market, accounting for 34.4% of the total in 2022
• The USA was the leading market in the recreation market, accounting for 28.7% of the total in 2022
• Key drivers of the recreation market include legalization of gambling by various countries, a rise in touring and live performances, a rapid shift in individual preference towards well-being, and an increase in health & fitness problems.

The Global Market Model provides in-depth information on the following key macro indicators for the recreation industry -

• Number of enterprises
• Number of employees

Recreation Industry Forecast

The forecast remains largely stable from the previous forecast of end 2022. The consumers spend on recreational activities, reduced due to high inflation, less discretionary income, and cost-of-living crisis, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model, the world's most comprehensive database of integrated market information, is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated every six months on the basis of economic, geo-political and sector-specific factors.

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2023 Retail And Wholesale Industry Overview: Growth To Be Powered By High Consumer Prices, By The Global Market Model

A Comprehensive Overview of the Global Retail And Wholesale Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The global market model's retail and wholesale industry analysis remains largely stable from the previous forecast of end 2022. The factors such as inflation, economic headwinds, impact of Russia-Ukraine war and supply chain disruptions, which eventually led to increased consumer prices, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle. There's been a significant change in consumer buying habits across channels, with higher-than-anticipated sales in physical stores and lower-than-expected e-commerce sales.

Retail and wholesale industry growth potential

The global retail and wholesale market was valued at $72353 billion in 2022. The market accounted for 72.2% of the global GDP.
The market is expected to grow at a compound annual growth rate (CAGR) of 7.1%s during 2022 to 2032. Technology advancements such as self-checkout technology beacons, robotics, automation, and augmented reality are expected to drive the market during the forecast period.

Top segments and region retail and wholesale companies should focus

The wholesale market was the largest segment of the retail and wholesale market, accounting for 63.5% of the total in 2022. USA was the leading market in the retail and wholesale market, accounting for 23.1% of the total in 2022.

The Global Market Model provides insights on the following key industry indicators in the retail and wholesale industry:

• Number of retail stores
• Number of enterprises
• Number of employees

The Global Market Model provides global retail and wholesale industry overview which includes key insights on retail and wholesale industry trends, retail and wholesale industry growth rate, retail and wholesale industry market size, retail and wholesale market drivers, and more across 60 geographies for the seven key regions.

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Services Industry Analysis - Market Size, Growth Rate And Largest Region, By The Global Market Model

A Comprehensive Overview of the Global Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The global market model's forecast for the services industry remains largely stable from the previous forecast of end 2022. The factors such as economic headwinds and inflation which led to increased services prices due to increasing labor costs, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

What was the services market size in 2022?

The global services market was valued at $14043.9 billion in 2022. The market accounted for 14% of the global GDP.

What will the services industry growth rate be in the forecast period?

The market is expected to grow at a compound annual growth rate (CAGR) of 8.6% during 2022 to 2032. The factors such as outsourcing businesses to non-core operations to reduce their overall expenditures and to focus on their core business and technological advances are expected to drive the market during the forecast period.

Top segments in services that are in demand

The commercial services market was the largest segment of the services market, accounting for 36.7% of the total in 2022. USA was the leading market in the services market, accounting for 23.5% of the total in 2022.

The Global Market Model provides insights on the following key industry indicators in the the services industry:

• Tons of waste collected
• Tons of waste recycled
• Number of enterprises
• Number of employees

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The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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The Social Services Industry Is Expected To Grow At A Rate Of More Than 7% During 2023-2032, By The Global Market Model

A Comprehensive Overview of the Global Social Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model, in its latest social services industry outlook, has expected stable forecast growth (CAGR) for the industry. The factors such as economic headwinds and inflation which led to increased prices for social services due to increasing labor costs, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle. The high inflation rates have forced governments to restrict the budget allocation for social services, which is expected to restrain the growth of the market.

How much is the social services industry worth?

The global social services market was valued at $4800.6 billion in 2022. The market accounted for 4.8% of the global GDP. The market is expected to grow at a compound annual growth rate (CAGR) of 7.1% during 2022 to 2032. The factors such as online learning, crowd funding, and integrating smart technologies into learning are expected to drive the market during the forecast period.

What is the largest segment and region in the social services industry?

The educational services market was the largest segment of the social services market, accounting for 66.3% of the total in 2022. China was the leading market in the social services market in 2022, accounting for 15.2% of the total.

The Global Market Model helps you spot key social services industry trends by offering insights on the following key industry indicators-

• Number of students
• Number of enterprises
• Number of employees

Global Market Model - The world's most comprehensive database

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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The Transport Industry Is Expected To Grow At A Rate Of More Than 7% During The Forecast Period 2023-2032, By The Global Market Model

A Comprehensive Overview of the Global Transport Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

How much is the transportation industry worth?

The global transport market was valued at $5881.6 billion in 2022. The market accounted for 5.9% of the global GDP. The market is expected to grow at a compound annual growth rate (CAGR) of 7.6% during 2022 to 2032. The factors such as demand for self-driving cars, electric vehicles, and demand for smart solutions in mobility, are expected to drive the market during the forecast period.

What are top transportation industry segments and regions?

The motor vehicle parts market was the largest segment of the transport market, accounting for 43.6% of the total in 2022. China was the leading market in the transport market, accounting for 19.7% of the total in 2022.

Transportation industry outlook

The forecast remains largely stable from the previous forecast of end 2022. The factors such as economic headwinds, impact of Russia-Ukraine war, and squeezed consumer spending due to inflation and recession pressure, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model provides insights on the following key industry indicators in the the transport industry analysis-

• Number of vehicles produced
• Number of vehicles sold
• Number of vehicles installed
• Number of enterprises
• Number of employees

Global Market Model - The World's Most Comprehensive Database Of Integrated Market Information

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022.

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Transport Services Industry Overview - Growth To Be Powered By Increase In Service Prices Due To Inflation, By The Global Market Model

A Comprehensive Overview of the Global Transport Services Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022 provides the following key insights on the industry:

How much is the transportation industry worth, and what are its key drivers?

The global transport services market was valued at $7292.6 billion in 2022. The market accounted for 7.3% of the global GDP. In terms of per capita consumption, the market accounted for $932.7.
The market is expected to grow at a compound annual growth rate (CAGR) of 8.3% during 2022 to 2032. Factors such as the adoption of data analytics, improved air cargo services, increasing e-commerce, and a rise in tourism are expected to drive the market during the forecast period.

Largest transportation services industry segment and region

The general transport market was the largest segment of the transport services market, accounting for 30% of the total in 2022. The USA was the leading market in the transport services market in 2022, accounting for 21.8% of the total.

Transportation services industry forecast for 2023-2032

The forecast remains largely stable from the previous forecast of end 2022. The factors such as inflation which led to increased labor costs and fuel prices, which eventually led to increased transport services prices, were already taken into account during our previous forecast update. The strong recovery of the air transport market benefiting from the increasing air travel demand was also already considered during our previous update. Hence, our transportation industry analysis are fairly similar during this update cycle.

The Global Market Model offers insights on the following key industry indicators for the transport services industry -

• Number of commercial vehicles installed
• Number of enterprises
• Number of employees

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Utilities Industry Overview: Growth Potential And Leading Regions, By The Global Market Model

A Comprehensive Overview of the Global Utilities Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

As per the Global Market Model's utilities industry analysis, the utilities industry is expected to grow at a compound annual growth rate (CAGR) of 6.6% during 2022 to 2032. The global utilities market was valued at $6037.3 billion in 2022. The market accounted for 6% of the global GDP. The rapid growth in investments in renewable power generation capacities is expected to drive the market during the forecast period.

Which segment and region holds the largest utility industry market share?

The electric power generation, transmission, and distribution market was the largest segment of the utilities market, accounting for 74.2% of the total in 2022. China was the leading market in the utilities market in 2022, accounting for 19.5% of the total.

Utilities industry forecast - decreasing natural gas prices likely to offset the market growth

The forecast remains largely stable from the previous forecast of end 2022. The prices of natural gas will have an impact on electricity prices. The spike in natural ga prices due to Russia-Ukraine conflict, supply chain disruptions and prices of natural gases stabilizing in the long term, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle.

The Global Market Model offers insights on the following key industry indicators for the utilities industry -

• Electricity generation
• Amount of sewage treated
• Electricity generation from oil
• Electricity generation from hydropower
• Electricity generation from coal
• Electricity generation from natural gas
• Electricity generation from nuclear sources
• Electricity generation from renewable sources
• Number of enterprises
• Number of employees

Global Market Model - The world's most comprehensive database

The Global Market Model is the world's largest database of market forecasts. Forecasts for over 7000 markets are updated quarterly on the basis of economic, geo-political and sector-specific factors. The current forecast was made in June 2023, revising the previous forecasts made in December 2022

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Veterinary Healthcare Industry Overview - Forecast Market Size And Growth Rate, And Leading Regions, By The Global Market Model

A Comprehensive Overview of the Global Veterinary Healthcare Industry: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

In its latest veterinary healthcare market analysis, the Global Market Model has estimated stable growth for the market. The high rate of inflation has led to the increasing veterinary care prices and rising prices of drugs and animal feed, were already taken into account during our previous forecast update. Hence, our forecasts for this market remained stable during this update cycle. There is reduction in pet adoption rates and pet spending, which will restraint the market growth.

Key highlights from the Global Market Model's forecast for the veterinary healthcare market are -

• The global veterinary healthcare market was valued at $177.9 billion in 2022
• The veterinary healthcare market accounted for 0.2% of the global GDP
• The veterinary healthcare market is expected to grow at a compound annual growth rate (CAGR) of 7.3% during 2022 to 2032
• Key drivers of the veterinary healthcare market include increase in penetration of pet insurance and sophisticated treatment options
• The veterinary services market was the largest segment of the veterinary healthcare market, accounting for 72.3% of the total in 2022
• USA was the leading market in the veterinary healthcare market, accounting for 42.4% of the total in 2022

The Global Market Model offers insights on the following key industry indicators for the veterinary healthcare industry -

The Global Market Model provides global veterinary healthcare industry outlook covering key areas such as veterinary healthcare industry size, veterinary healthcare industry growth rate, veterinary healthcare industry trends and drivers, veterinary healthcare industry challenges, and more across 58 geographies for the seven key regions.

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