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An Overview of Allied Market Research: Your Top Questions Answered

by Sarah Schmidt , on December 5, 2023

To help you better understand this research provider and their unique expertise, here are some answers to frequently asked questions about Allied Market Research.

What is Allied Market Research? 

The company offers syndicated and custom market research, competitive intelligence, growth strategy consulting, operational improvement advisory, and financial modelling services to help organizations make informed decisions and stay competitive in the market.

The research reports and studies produced by Allied Market Research cover a broad spectrum of industries, including life sciences, consumer goods, materials & chemicals, construction & manufacturing, food & beverages, energy & power, semi-conductor & electronics, automotive & transportation, ICT & media, consumer goods and aerospace & defense. This research offers valuable information on market size, market share, industry trends, competitive analysis, and growth forecasts.

What are Allied Market Research reports used for? 

Allied Market Research reports are primarily used by businesses and organizations for market research and analysis purposes. They serve as a valuable resource for gaining insights into various industries, market trends, competitive landscapes, and consumer behavior. Some specific use cases for which Allied Market Research reports are commonly utilized include the following: 

• Market Assessment and Opportunity Analysis: The research reports and studies provide a comprehensive understanding of market size, market share, and growth prospects, enabling organizations to make informed decisions regarding market entry, product development, and expansion strategies. 
• Competitive Intelligence: The reports provide an in-depth analysis of competitive landscapes, including key players, market strategies, and market share analysis. 
• Industry Trends and Forecasting: The research reports provide insights into industry trends, emerging technologies, and future market projections.
• Investment and Business Planning:  The market research reports and analysis assist in assessing market attractiveness, growth potential, and risk factors, enabling investors to make informed decisions and allocate resources effectively. 
• Product Development and Innovation: This information helps companies seeking to develop new products or enhance offerings by identifying gaps in the market, understanding customer needs, and designing products with a higher likelihood of success. 
• Strategic Decision Making:  From market entry strategies to mergers and acquisitions, the market research reports assist organizations in evaluating the feasibility and potential outcomes of various strategic initiatives. 

How many employees does Allied Market Research have? 

Allied Market Research has a dedicated team of 500+ passionate employees. The company’s team of analysts and experts meticulously scours through vast repositories of reliable and high-quality resources, literature, and data to ensure the research reports are built on a solid foundation. 

Why is Allied Market Research credible? 

Founded in 2013, Allied Market Research has been in operation for a decade and has established a reputation for delivering comprehensive market research reports and analyses across various industries. Following are a few factors that contribute to Allied Market Research’s credibility: 

• An established long-standing relationship with 7,000+ clients worldwide, including leading companies and organizations
• Positive client testimonials and reviews indicate its credibility and the value the firm provides to its clients
• A combination of primary and secondary research methodologies to gather data and insights 
• A team of experienced analysts, industry experts, and consultants with deep domain knowledge across different sectors
• Proprietary techniques ensure insightful and actionable market intelligence
• Collaboration with 65+ industry leaders and key opinion leaders (KOLs) across the globe 
• A diverse range of industry coverage demonstrates the ability of Allied Market Research to adapt its research capabilities to different sectors and provide comprehensive insights
• Continued investment in talent, technologies, and delivery capabilities cement its position as a leader in enabling strategic decision-making

How does Allied Market Research differentiate itself?

Allied Market Research differentiates itself through its proprietary methodologies, experienced cross-functional teams, technology leverage, and focus on client results. The company employs proven frameworks to drive strategic insights. Domain experts and advanced analytics translate data into actionable intelligence.

Moreover, Allied Market Research’s global team blends business strategy, data science, and industry expertise for a well-rounded perspective. The on-ground presence worldwide accounts for regional nuances.

By combining functional knowledge, analytical rigor, and technology via a global delivery model, Allied Market Research provides targeted intelligence for a competitive edge. Its customized problem-solving and ROI-driven approach make it a strategic partner versus a tactical market research vendor.

How does Allied Market Research track the business impact for its clients? 

Allied Market Research measures impact through three levels — activity KPIs, process KPIs, and business KPIs.

• Activity KPIs track the utilization of deliverables across the organization
• Process KPIs assess outcomes like new product development time or sales cycle compression
• Business KPIs evaluate client growth, revenues, market share, and profitability gains

What are some recent reports by Allied Market Research? 

• Intensive Care Unit Equipment Market
• Tire Recycling Market
• Athleisure Market
• Deep Learning Market
• Non-Fungible Tokens Market

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About the author: Sarah Schmidt is a Managing Editor at MarketResearch.com, a leading provider of global market intelligence products and services.

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All Manufacturing & Construction reports Allied Market Research All Allied Market Research reports Heavy Industry Manufacturing & Construction Publisher: Allied Market Research Category : Manufacturing & Construction

Manufacturing & Construction market research reports by Allied Market Research

Refine your search, circulator pumps market by flow rate (less than 15 m3/h, 15-30 m3/hr, 30-45 m3/hr, more than 45 m3/hr), by application (air conditioning, hot water heating system, industrial circulation, domestic water recirculation, solar and geothermal systems, others), by end user (residential, commercial, industrial): global opportunity analysis and industry forecast, 2023-2032.

Feb 01, 2024  |  Published by: Allied Market Research  |  USD 5,730

Circulator Pumps Market By Flow Rate (Less than 15 m3/h, 15-30 m3/hr, 30-45 m3/hr, More than 45 m3/hr), By application (Air Conditioning, Hot water heating system, Industrial Circulation, Domestic water Recirculation, Solar and Geothermal Systems, Others), By End User (Residential, Commercial, Indus ... Read More

Global Zinc-Air Battery Market By Type (Non-Rechargeable, Rechargeable), By Application (Hearing Aids, Safety Lamps, Military Devices, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Jan 01, 2024  |  Published by: Allied Market Research  |  USD 5,730

Global Zinc-Air Battery Market By Type (Non-Rechargeable, Rechargeable), By Application (Hearing Aids, Safety Lamps, Military Devices, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global zinc-air battery market is anticipated to reach $521.1 million by 2032, growing from ... Read More

Smart Home Devices Market By Component (Solutions, Services), By Type (Lighting Control, Security and Access Control, HVAC Control, Entertainment and Other Controls, Smart Kitchen, Home Appliances, Smart Furniture, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Smart Home Devices Market By Component (Solutions, Services), By Type (Lighting Control, Security and Access Control, HVAC Control, Entertainment and Other Controls, Smart Kitchen, Home Appliances, Smart Furniture, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 A smart home is ... Read More

Flexible Packaging Market By Packaging Type (Stand-up Pouch, Films, Bag-in-Box, Others), By Material (Paperboard, Plastic, Aluminum Foil, PET Film, Others), By End Use Industry (Food and Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Flexible Packaging Market By Packaging Type (Stand-up Pouch, Films, Bag-in-Box, Others), By Material (Paperboard, Plastic, Aluminum Foil, PET Film, Others), By End Use Industry (Food and Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, Others): Global Opportunity Analysis and Ind ... Read More

Powder Coatings Market By Resin Type (Thermoset, Thermoplastic), By Coating Method (Electrostatic Spray, Fluidized Bed?), By Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, and Earthmoving Equipment (ACE), General Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Powder Coatings Market By Resin Type (Thermoset, Thermoplastic), By Coating Method (Electrostatic Spray, Fluidized Bed?), By Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, and Earthmoving Equipment (ACE), General Industrial, Others): Global Opportunity Anal ... Read More

Building Energy Management Systems Market By Category (Service, Software, Hardware), By End-User (Residential, Commercial and Institutional, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Building Energy Management Systems Market By Category (Service, Software, Hardware), By End-User (Residential, Commercial and Institutional, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global building energy management system market size was valued at $6.5 billion i ... Read More

Technical Textile Market By Material (Natural Fiber, Synthetic polymers/fibers, Mineral fiber, Regenerated Fiber, Metal fiber, Others), By Process (Woven, Knitted, Non-Woven, Others), By End-Use Application (MobilTech, InduTech, SporTech, BuildTech, HomeTech, ClothTech, MediTech, AgroTech, ProTech, PackTech, GeoTech, OekoTech): Global Opportunity Analysis and Industry Forecast, 2023-2032

Technical Textile Market By Material (Natural Fiber, Synthetic polymers/fibers, Mineral fiber, Regenerated Fiber, Metal fiber, Others), By Process (Woven, Knitted, Non-Woven, Others), By End-Use Application (MobilTech, InduTech, SporTech, BuildTech, HomeTech, ClothTech, MediTech, AgroTech, ProTech, ... Read More

Jet Engines Market By Type (Turbofan Engine, Turbojet Engine), By Application (Military Aviation, Civil Aviation): Global Opportunity Analysis and Industry Forecast, 2023-2032

Jet Engines Market By Type (Turbofan Engine, Turbojet Engine), By Application (Military Aviation, Civil Aviation): Global Opportunity Analysis and Industry Forecast, 2023-2032 A jet engine is a kind of internal combustion engine that uses high-speed exhaust gases created by the engine's fuel burning ... Read More

Extra Virgin Coconut Oil Market By Type (Organic, Conventional), By Packaging (Metal Cans, Plastic Bottles, Pouches), By End Use (B2B, B2C): Global Opportunity Analysis and Industry Forecast, 2023-2032

Extra Virgin Coconut Oil Market By Type (Organic, Conventional), By Packaging (Metal Cans, Plastic Bottles, Pouches), By End Use (B2B, B2C): Global Opportunity Analysis and Industry Forecast, 2023-2032 Extra Virgin Coconut Oil (EVCO) stands out as a pure and unadulterated extract derived from fresh ... Read More

Service Robotics Market By Type (Professional service robotics, Personal service robotics), By Application (Agriculture, Professional cleaning, Inspection and Maintenance, Construction and demolition, Transportation and logistics, Medical, Search, rescue, and security, Hospitality, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Dec 01, 2023  |  Published by: Allied Market Research  |  USD 5,730

Service Robotics Market By Type (Professional service robotics, Personal service robotics), By Application (Agriculture, Professional cleaning, Inspection and Maintenance, Construction and demolition, Transportation and logistics, Medical, Search, rescue, and security, Hospitality, Others): Global O ... Read More

Motor Soft Starter Market By Voltage (Low Voltage, Medium Voltage), By Power Rating (KW) (Up to 100 KW, Above 100 KW), By Application (Pumps, Fans, Compressors), By End-use Industry (Oil and Gas, Water and Wastewater, Power Generation, Mining, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Motor Soft Starter Market By Voltage (Low Voltage, Medium Voltage), By Power Rating (KW) (Up to 100 KW, Above 100 KW), By Application (Pumps, Fans, Compressors), By End-use Industry (Oil and Gas, Water and Wastewater, Power Generation, Mining, Others): Global Opportunity Analysis and Industry Foreca ... Read More

Sanitary Ware Market By Type (Toilet Sinks/Water Closets, Wash Basins, Pedestals, Cisterns), By Material (Ceramics, Pressed Metals, Acrylic Plastics and Perspex, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Sanitary Ware Market By Type (Toilet Sinks/Water Closets, Wash Basins, Pedestals, Cisterns), By Material (Ceramics, Pressed Metals, Acrylic Plastics and Perspex, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global sanitary ware market was valued at $9,022.7 million in 20 ... Read More

Specialty Tire Market By Type (Bias Tires, Radial Tires), By End-User (Agriculture, Construction and Mining, Off-Roading, Others), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032

Specialty Tire Market By Type (Bias Tires, Radial Tires), By End-User (Agriculture, Construction and Mining, Off-Roading, Others), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032 The report incorporates the study o ... Read More

Industrial High Voltage Motor Market By Type (Squirrel Cage Motors, Slip Ring Motors), By Product (Synchronous High Voltage Motor, Asynchronous High Voltage Motor), By Application (Cement Production, Mining, Chemical Processing, Oil and Gas, Metal Processing, Paper Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Nov 01, 2023  |  Published by: Allied Market Research  |  USD 5,730

Industrial High Voltage Motor Market By Type (Squirrel Cage Motors, Slip Ring Motors), By Product (Synchronous High Voltage Motor, Asynchronous High Voltage Motor), By Application (Cement Production, Mining, Chemical Processing, Oil and Gas, Metal Processing, Paper Manufacturing, Others): Global Opp ... Read More

Advanced HVAC Control Systems Market By Installation Type (New Installation, Retrofit), By System (Temperature Control System, Ventilation Control System, Humidity Control System, Integrated Control System), By Application (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Oct 02, 2023  |  Published by: Allied Market Research  |  USD 5,730

Advanced HVAC Control Systems Market By Installation Type (New Installation, Retrofit), By System (Temperature Control System, Ventilation Control System, Humidity Control System, Integrated Control System), By Application (Residential, Commercial, Industrial): Global Opportunity Analysis and Indust ... Read More

Hygienic Cladding Market By Type (PVC Cladding, Polypropylene Cladding, GRP Cladding, Others), By Application (Healthcare Facilities, Sports Clubs, Pharmaceutical Plants, Restaurant Kitchens, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Hygienic Cladding Market By Type (PVC Cladding, Polypropylene Cladding, GRP Cladding, Others), By Application (Healthcare Facilities, Sports Clubs, Pharmaceutical Plants, Restaurant Kitchens, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global hygienic cladding market is ... Read More

Actuators And Valves Market By Application (Oil and Gas, Paper and Pulp, Mining, Water and Wastewater, Food and Beverages, Energy and Power, Automotive, Chemicals and CPI, Pharma and Life Sciences, Healthcare, Microelectronics and Semiconductors), By Type (Actuators, Valves): Global Opportunity Analysis and Industry Forecast, 2023-2032

Actuators And Valves Market By Application (Oil and Gas, Paper and Pulp, Mining, Water and Wastewater, Food and Beverages, Energy and Power, Automotive, Chemicals and CPI, Pharma and Life Sciences, Healthcare, Microelectronics and Semiconductors), By Type (Actuators, Valves): Global Opportunity Anal ... Read More

Storefront Glass Market By Type (Safety/Limited Glass, Insulated Glass, Others), By Distribution Channel (Online, Offline), By End User (Stores, Showrooms, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Storefront Glass Market By Type (Safety/Limited Glass, Insulated Glass, Others), By Distribution Channel (Online, Offline), By End User (Stores, Showrooms, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The Storefront Glass market was valued for $5,606.80 million in 2020 and i ... Read More

Digital Shipyard Market By Type (Military Shipyards, Commercial Shipyards), By Technology (Artificial Intelligence and Big Data Analytics, Robotic Process Automation, AR and VR, Others), By Capacity (Small Shipyards, Medium Shipyards, Large Shipyards), By Digitalization Level (Semi-digital Shipyard, Fully-digital Shipyard): Global Opportunity Analysis and Industry Forecast, 2023-2032

Digital Shipyard Market By Type (Military Shipyards, Commercial Shipyards), By Technology (Artificial Intelligence and Big Data Analytics, Robotic Process Automation, AR and VR, Others), By Capacity (Small Shipyards, Medium Shipyards, Large Shipyards), By Digitalization Level (Semi-digital Shipyard, ... Read More

Kitchen countertop Market By Material (Granite, Engineered (Quartz), Marble, Quartzite, others), By Style (Traditional, Contempory, Modern, Others), By Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Sep 02, 2023  |  Published by: Allied Market Research  |  USD 5,730

Kitchen countertop Market By Material (Granite, Engineered (Quartz), Marble, Quartzite, others), By Style (Traditional, Contempory, Modern, Others), By Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global kitchen countertop market size was va ... Read More

Green Facade Market By Type (Ground Based, Wall Structure Based), By Vegetation Type (Shrubs, Flowers, Others), By Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Aug 01, 2023  |  Published by: Allied Market Research  |  USD 5,730

Green Facade Market By Type (Ground Based, Wall Structure Based), By Vegetation Type (Shrubs, Flowers, Others), By Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global green façade market was valued at $662,208.8 thousand in 2020, and is proj ... Read More

Wind Power Generator Market By Installation (On-shore, Off-shore), By Application (Horizontal axis wind power, Vertical axis wind power), By End Use Industry (Commerical and Industrial, Utility and Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Wind Power Generator Market By Installation (On-shore, Off-shore), By Application (Horizontal axis wind power, Vertical axis wind power), By End Use Industry (Commerical and Industrial, Utility and Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global win ... Read More

Handheld Chemical and Metal Detector Market By Type (Metal, Chemical), By Application (Customs and Borders, Forensic Departments, Law Enforcement Agencies, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Handheld Chemical and Metal Detector Market By Type (Metal, Chemical), By Application (Customs and Borders, Forensic Departments, Law Enforcement Agencies, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 The handheld chemical and metal detector market was valued at $2,211.00 mi ... Read More

Wood Pellet Fuel Market By Feedstock (Forest Waste, Agriculture Waste, Others), By Application (Heating, Power Generation, Combined Heat and Power (CHP), Others), By End-Use (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Wood Pellet Fuel Market By Feedstock (Forest Waste, Agriculture Waste, Others), By Application (Heating, Power Generation, Combined Heat and Power (CHP), Others), By End-Use (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032 The global wood pellet fue ... Read More

Gas Turbine MRO Market By Technology (Heavy Duty, Light Industrial, Aero-derivative), By Type (Maintenance, Repair, Overhaul), By Provider Type (OEM, Independent Service Provider, In-house), By End-use (Power Generation, Oil and Gas, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Gas Turbine MRO Market By Technology (Heavy Duty, Light Industrial, Aero-derivative), By Type (Maintenance, Repair, Overhaul), By Provider Type (OEM, Independent Service Provider, In-house), By End-use (Power Generation, Oil and Gas, Others): Global Opportunity Analysis and Industry Forecast, 2023-2 ... Read More

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AMR’s company reports provide strategic analysis of the leading companies in the world in every market segment. Our clients benefit from the company profile analysis we offer as they are able to understand the strategies of those companies and their positive and negative aspects. This gives them a base to plan their business as per market and the competitors.

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Allied Market Research is a market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding their product & service portfolio, and implementing the client-first approach since inception. With clients spanning more than 7,000 organizations which also includes a majority of Fortune 500 companies, AMR has a proven track record of helping and serving global clientele and playing a major role in their success.

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Exploring the Growing Insurance Brokerage Industry

Insurance brokerage is a dynamic and evolving industry that plays a key role in the insurance sector. They act as intermediaries between policyholders and insurance companies. Insurance brokerage firms offer their clients professional and technical advice on insurance products as per the customer's needs. The major insurance products sold by insurance brokers are property & casualty insurance, and health & medical insurance.

According to the new report released by Allied Market Research, the insurance brokerage market is predicted to exhibit a remarkable CAGR of 9.3% over the projected period. The insurance brokerage market growth is attributed to the increase in awareness of the importance of insurance, the complexity of insurance products, and the growing demand for individual insurance solutions. 

Moreover, the India insurance brokerage market has witnessed steady growth with the fastest CAGR of 16.6 by 2032. On the other hand, Canada is expected to be the second largest, with a CAGR of 15.6 during the forecast timeframe. Simultaneously, the property and casualty insurance segment is expected to lead the trail in terms of revenue growth of $225,332.35 million from 2022 to 2032.  However, the life insurance segment is anticipated to prominently grow in terms of revenue growth opportunities of $143,262.86 million from 2022 to 2032.

Latest trends in the insurance brokerage industry-                                                          

 Digital transformation:

The insurance brokerage industry is experiencing rapid digital transformation, adopting technologies such as artificial intelligence, machine learning, and big data analytics. These technologies allow brokers to better understand consumer preferences, customize insurance solutions, and improve pricing strategies.

 Insurtech integration:

Insurance companies are working with traditional insurance brokers to improve their service offerings. Using Insurtech solutions, brokers can rationalize their operations, offer innovative products, and improve customer assistance & support through user-friendly digital platforms.

 Focus on customer experience:

In a highly competitive market, insurance brokers invest even more to provide excellent customer experience. This includes providing fast and seamless insurance solutions, streamlined claims processes, and proactive customer support.

Sustainable and noble practices:

Insurance brokers follow sustainable and noble practices that help to provide customers with valuable services. By promoting transparent business practices and environmentally friendly insurance products, brokers can enhance their reputation and attract a socially conscious customer base.

Moreover, some of the leading companies in the market including Gallagher, Marsh & McLennan Companies Inc., HUB International Limited, and Aon plc are working on developing strategies such as product developments, collaborations, mergers and acquisition to maintain their foothold in the global industry. For example, in March 2022, HBSC, the world's largest banking and financial service organization had a partnership with Marsh and McLennan, a professional services firm. With this contract, HBSC sought to provide world-class insurance products to their customers that are currently not available in their portfolio.

Therefore, it can be stated that the insurance brokerage industry is assured of significant growth and transformation in the coming years. With changing customer needs and technological advances, opportunities for innovation and growth.

Koyel Ghosh

Author’s Bio- Koyel Ghosh is a blogger with a strong passion and enjoys writing in miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest in creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last five years.

Smart ATMs Pushing the growth of global ATM Market

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Test Lanes Market to Reach $3.7 billion, Globally, by 2032 at 5.6% CAGR: Allied Market Research

Wilmington, Delaware,, May 21, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Test Lanes Market by Test Type (Emissions Test Lanes, Brake Test Lanes, Suspension Test Lanes, Headlight Alignment Test Lanes, Alignment Test Lanes, and Others), Technology (Manual Test Lanes and Automated Test Lanes), and Vehicle Type (Passenger Cars, Commercial Vehicles, and Motorcycles): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the " Test Lanes Market " was valued at $2.1 billion in 2022, and is estimated to reach $3.7 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.

Prime determinants of growth

Stringent regulations that require vehicles to undergo regular testing and inspection, including emissions testing, safety inspections, and assessments of roadworthiness, are expected to increase the demand for test lanes. Rise in vehicle ownership rates, particularly in developing nations, contributes to rise in need for vehicle testing services, thereby bolstering the growth of the test lanes market. Moreover, advancements in automotive technology, such as advanced driver assistance systems (ADAS) and the shift towards vehicle electrification, necessitate specialized testing equipment and facilities, thereby increasing the demand for modernized test lanes. In turn, such factors are anticipated to support the development of the test lanes market during the forecast period.

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Report coverage & details:

The emissions test lanes segment to maintain its leadership status during the forecast period.

By test type, the emissions test lanes segment held the highest market share in 2022, accounting for more than one-third of the global test lane market revenue and is estimated to maintain its leadership status during the forecast period, owing to stringent environmental regulations mandating emissions testing for vehicles, thus driving consistent demand for such services. However, the brake test lanes segment is projected to attain the highest CAGR of 6.7% from 2023 to 2032, owing to rise in focus on vehicle safety standards globally.

The automated test lanes segment maintained its lead position during the forecast period.

By technology, the automated test lanes segment accounted for the largest share in 2022, contributing to more than four-fifth of the global test lane market revenue, and is projected to attain the highest CAGR of 5.8% from 2023 to 2032, owing to rise in adoption of automation for efficiency and accuracy in vehicle testing processes.

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The passenger cars segment to maintain its leadership status during the forecast period.

By vehicle type, the passenger cars segment held the highest market share in 2022, accounting for nearly three-fifth of the global test lane market revenue and is estimated to maintain its leadership status during the forecast period, owing to larger volume of passenger cars in vehicle populations and the frequency of mandatory regulatory testing requirements. However, the commercial vehicles segment is projected to attain the highest CAGR of 6.1% from 2023 to 2032, owing to increasing fleet sizes and stringent regulatory mandates.

Asia-Pacific to maintain its dominance by 2032.

Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global test lane market revenue and is expected to witness the fastest CAGR of 6.1% from 2023 to 2032, owing to significant automotive market size, expanding vehicle fleet, and increasing regulatory compliance requirements in the region.

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Leading Market Players: -

• Boston Garage Equipment Ltd.
• Crypton Technology Ltd. (part of Continental Corporation)
• Cormach Test Lane Systems
• MAHA Maschinenbau Haldenwang GmbH & Co. KG
• Hofmann Megaplan
• Snap On Vehicle Service Group Italy S.r.l.
• Butler Vehicle Service Group Italy S.r.l.

The report provides a detailed analysis of these key players of the global test lane market. These players have adopted different strategies such as new product launches, collaborations, expansion, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of " Market Research Reports " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

 We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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05/21/2024 11:36 -0400

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