In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
June 2021: ELMO USA Corporation announced the release of MX-P3, the newest addition to the company’s range of ultra-portable document camera lineup, which is built-in with significant enhancements.
January 2021: Lumens Digital Optics Inc. showcased their latest camera Ladibug DC-F80, which is a two-in-one 4K solution that comes with an adjustable mechanical arm. The specialty of this camera is that it can also become a teaching webcam to interact with students.
The global visualizer market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. Globally, the demand for visualizers is anticipated to be driven by the rising spending to use interactive tools in classrooms and lecture halls, and increasing availability of visualizers in developed nations. In 2018, 51% organizations admitted to be have used interactive tools such as webcams and visualizers for research and training. Growing awareness about visualizers among consumers, rising demand of the product from tech enthusiasts, and increasing adoption of innovative presentation techniques by business and educational organizations are also expected to drive the growth of the market in the upcoming years. Along with this, escalating development of lightweight and portable visualizers is also assessed to benefit the progress of the market. Moreover, visualizer allows teachers and educators to effortlessly share 3D objects, books and experiments, which in turn is predicted to increase the usage of this product in the education sector.
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The market has been segmented based on product type into portable visualizer, desk visualizer, and ceiling visualizer. The portable visualizer segment is anticipated to grab the most significant share by the end of 2030, on account of better flexibility of portable visualizers, along with ease of working and enhanced productivity. Furthermore, on the basis of application, the architectural and visualization segment is projected to grow with a remarkable CAGR over the forecast period. The growth of the segment can be attributed to the increasing adoption of visualizers in the architectural sector to help visualize the planning and execution of projects to clients.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labour productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global visualizer market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The market in Asia Pacific is expected to grow significantly during the forecast period owing to the growing adoption of visualizers in many Asian countries, such as India, Singapore, and China. Along with this, the rise in use of animation and graphics solutions in various end-user industries such as construction & real estate, media & entertainment, and healthcare is also estimated to boost market growth in the region. The market in the North American is expected to hold the largest share over the forecast period, especially in the United States, ascribing to the presence of leading companies in the region. Moreover, increasing number of small and medium-sized enterprises, and growing demand for visualization techniques in real estate, construction and research sectors are also expected to drive market growth in the region. For instance, as of 2020, there were 31.7 million small and medium sized enterprises in the United States, accounting for 99.9 percent of the total businesses in the country.
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The global visualizer market is further classified on the basis of region as follows:
Our in-depth analysis of the global visualizer market includes the following segments:
Ans: Increasing need for sophisticated presentation platforms and growing demand for comprehensive document camera for architecture planning are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Ans: High cost associated with the equipment is estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the rise in investments on animation and graphics solutions in education sector in the region.
Ans: The major players dominating the visualizer market are Edu Assessment Pvt. Ltd., ELMO EUROPE GmbH, WolfVision GmbH among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, application, and by region.
Ans: With respect to application, the architectural and visualization segment is anticipated to hold the largest market share owing to the growing usage of visualizers for architectural planning worldwide.