Market Research

The global legal process outsourcing market size is projected to reach USD 35.9 billion by 2025, expanding at a CAGR of 31.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. The growth can be chiefly attributed to the emergence of alternative legal service delivery models and virtual law firms. Technological advancements and innovations in the legal industry are expected to offer new growth avenues in the sector, helping law firms inculcate a transparent relationship with clients. Law firms are deploying Natural Language Processing (NLP) and document automation capabilities to fall in line with the reinvention of the legal industry. Artificial Intelligence (AI) is another factor that has taken the LPO industry to a new level. Software equipped with AI capabilities is garnering utmost importance among lawyers and firms to save their time. Document production and proofreading of documents are efficiently done with the help of automation software. Use of t...

The global 3D scanning marke t size is estimated to reach USD 8.04 billion by 2025, according to a new study by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.4% from 2019 to 2025. Increasing R&D spending and technological advancements are anticipated to drive the growth. The emergence of structured light technology, counter to the customary laser dot or laser line technology, is also estimated to fuel the growth. The convergence of these technologies may provide enhanced interactive and immersive experiences. The increasing number of advanced wearable devices, complemented by portable and sophisticated 3D scanners, could potentially make the human-techno interaction more immersive, realistic, and adjunct with fabrication practices. The incipient trends, such as mixed reality, Internet of Things (IoT), and rising conjunction between a wearable device in automotive fabrication and aerospace -designing are anticipated to drive the market growth. 3D scann...

The global air conditioning systems market size is expected to reach USD 195.65 billion by 2025, registering a CAGR of 9.9% from 2019 to 2025 according to a study conducted by Grand View Research, Inc. Factors such as increasing international tourism, growing consumer spending on home improvement, and introduction of energy-efficient systems, coupled with the rising popularity of green cooling concepts, are expected to drive the market growth over the forecast period. Global events usually pave the way for extensive construction projects, such as the establishment of new buildings and improvement of existing infrastructure. These projects aim at accommodating and catering to the needs of international tourists & visitors or working professionals and providing them enhanced facilities. For instance, the 2020 Summer Olympics event, expected to be held in Tokyo, is expected to drive the construction and development of ample commercial, residential, and lodging spaces in the city ...

The global  surgical imaging market  size is projected to reach USD 7.3 billion by 2026 expanding at a CAGR of 5.2%, according to a new report by Grand View Research, Inc. Technological advancements and growing demand for minimally invasive surgeries are the key factors augmenting the market growth. Surgical imaging can be used with different modalities, such as optical mode, ultrasound, radiography, and nuclear medicine. Rising scope of applications of imaging modules in a wide range of surgery procedures is expected to create significant opportunities. Demand for surgical imaging systems is expected to show a steep growth due to high prevalence of chronic diseases including cancer and lifestyle disorders, and rising geriatric population, and demand for non-invasive and minimally invasive surgical methods. The endoscopy and laparoscopy devices are extensively used in minimally invasive surgeries. Key companies in the global marke...

The global wood adhesives market size is anticipated to reach USD 6.34 billion by 2025, according to a new report by Grand View Research, Inc. ,expanding at a CAGR of 4.7% over the forecast period. The increasing demand from engineered wood-based panel manufacturers is a significant driver of the market. Adhesives are a preferred choice for binding wood strips, chips, fibers, strands, and veneers for manufacturing engineered wood-based panels such as plywood, particle board, oriented strand board, medium density fiberboard, and high density fiberboards. Increasing population and rapid urbanization accompanied with the government efforts to boost residential construction are likely to propel the demand for wood-based panels, which in turn is expected to support the market growth. Urea-formaldehyde (UF) dominated the market in 2018 owing to its beneficial properties, namely, inflammability, low cost, light color, and a very rapid cure rate. However, low water resista...