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San Francisco, January 23, 2023: The environmental, social and governance (ESG) landscape has gone mainstream in the point-of-sale (POS) terminal industry. Robust digital payment technologies have potentially removed or reduced paperwork and bureaucracy and minimized the need for cash. Predominantly, automated payment processes are fostering corporate work, while retailers have exhibited an increased inclination for POS terminals as sustainability factors garner traction among shareholders, investors, customers and other stakeholders. Payment companies have furthered their traction for ESG pillars to propel social credibility, enhance brand position and place social goals on top of the agenda.
The onslaught of the COVID-19 pandemic disrupted the normal circulation of coins and spurred the penetration of debit/credit card payments. The raw materials (chemicals made from petroleum) process emit GHG emissions, while the magnetic strips and smart card chips could augment the environmental costs. An uptick in cashless payments, along with the growth of mobile payments, has furthered the use of POS equipment. Besides, the generation of e-waste has expedited the need for robust governance and environmentally friendly strategies to provide a lasting impact on security, comfort and the environment. Discover more regarding the practices and strategies being implemented by industry participants in the POS Terminal Industry ESG Thematic Report, 2023, published by Astra ESG Solutions Environmental Perspective An unprecedented rise in waste from scrapped cards has prompted stakeholders to seek environmental principles to underscore a sustainability portfolio. Furthermore, carbon emissions from energy used to manufacture the cards have augmented the GHG. Industry leaders have vouched for digital wallets that may offset the environmental impact of debit and credit cards. According to a France-based merchant services technology company Ingenico, there are around 110 million terminals installed globally. The growth trajectory alludes to an increased focus on the environmental performance. The company has introduced eco-design of payment terminals to develop, design and provide products that are environmentally friendly. The service company has augmented R&D efforts to optimize terminals’ energy efficiency, minimize logistics’ carbon footprint, integrate sustainable procurement into the supply, eliminate toxic substances and reduce the raw material used. Industry participants have sought carbon balancing to engage in proper e-waste management, foster an emission reduction strategy and offset the residual carbon footprint. For instance, in March 2022, Toshiba collected around 907 Kg of e-waste for recycling. It revised Response to Climate Change in Environmental Future Vision 2050 to attain carbon neutrality throughout the value chain. The company inferred in its Sustainability Report 2021 that it would inject funds into energy-saving equipment, bolster procurement of energy from renewable sources, bring renewable energy equipment to the fore and emphasize products and services that reduce GHG emissions. Get more insights about how key industry participants like Cisco Systems, Inc., Panasonic Corporation, Samsung Electronics Co., Ltd., Hewlett-Packard Inc., and Toshiba Corporation are identifying, analyzing and mitigating ESG risks and ensuring compliance Retailers, investors, manufacturers and other stakeholders have prioritized sustainability portfolio to unlock new opportunities to reach out to customers. According to the EU Eco-design directive, 90% of manufacturing costs and 80% of environmental pollution are due to the decisions taken at the production design. The use of recyclable and recycled raw materials could prove to be instrumental to add impetus to the environmental profile. For instance, Panasonic Corporation has minimized the waste generation by fostering the recycling rate of waste materials. Besides, HP exhibited the lowest emission and energy consumption rate in 2020 and aims for zero waste in operation by 2025. Social Perspective A robust ESG proposition could provide a win-win scenario as distributors, retailers and other stakeholders engage investors on their social performance. Social factors, including gender diversity, social trends, labor relations and inclusion, are expected to usher in innovations and growth through greater credibility. Bullish initiatives, including defining gender and racial representation and social-responsibility audits, will hold prominence, driving the business and benefiting shareholders and stakeholders. On the social pillar, Toshiba Corporation ranked supreme with approximately 90% score. In its Sustainability Report 2021, the Japanese conglomerate contemplated boosting the number of human rights awareness participants by 10% in the country from the preceding FY level. The multinational company has established a whistleblower system for employees—Toshiba Hotline—it received 129 cases in FY2020. Furthermore, in December 2020, the company rolled out the Chameleons Club with channels, such as LGBT+ Allies, to underscore and reinforce inclusion and deepen bonds among employees. Is your business one of participants to the global POS Terminals industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices. Amidst companies gearing to encourage employees to feel fulfillment and pride in their work and harness technology, high turnover rates have sparked concerns among stakeholders. According to the Samsung Electronics Sustainability Report 2022, the overseas turnover rate was pegged at 15.7% in 2021, while it stood at 2.4% in Korea. However, it has robust labor and human rights framework with strong anti-discrimination and anti-harassment policies. The company provided specialized online training for 91% of staff members in jobs with increased human rights risks. Besides, it has around 32 labor unions and 40 Work Councils to enhance communication with employee representative bodies. In a bid to reflect the thoughts of youth in business activities, Samsung formed the Gen Z and Millennial Board to enable the younger generation to share their views on customer trends, products and trending topics on social sites. Governance Perspective Stakeholders are gearing to provide impetus to sustainability governance through transparent functioning, improved management efficiency, independence and expertise of the board, business ethics, and optimal internal controls. In the thematic report, Grand View Research’s ESG scoring model notes that HP was at the helm with respect to corporate governance. The HPE board comprised 12 directors with vast knowledge, skills and expertise, with eleven working as independent directors (as of FY 2021). Moreover, around 50% of board members were identified with one of the more diverse groups. HPE’s board committee of ESG includes an audit committee; human resources and compensation committee; a finance and investment committee; and nominating, governance, and social responsibility committee. Predominantly, the company has established an enterprise risk management (ERM) program overseen by the CFO and underpinned by HPE Executive Risk Council. Ethical decision-making has gained ground to add fillip to business practices and encourage customers, employees, suppliers and stakeholders to voice concerns pertaining to business conduct. HPE asserts that ethics allegations and inquiries witnessed a 31% reduction in 2021 from 2019. Meanwhile, Cisco alludes to 1190 inquiries—53% of those related to conflict of interest disclosure, 28% questions and 19% allegations of misconduct—made to the Ethics office in 2021. The executive Leadership Team of Cisco recorded videos elucidating the significance of ethics and compliance to the company and shared real-life examples of violations observed within the organization during the same year. Browse more ESG Thematic Reports from the Technology Sector, published by Astra – ESG Solutions Disclosure of corporate information can steward companies’ approach to ESG performance through transparency. In April 2022, Panasonic Group adopted an operating company system to boost Group management, secure management and improve corporate value. It has formed the Audit & Supervisory Board to foster the effectiveness of audit activities, assess and decide countermeasures and propel cooperation with the Internal Audit Department. Additionally, Panasonic has formed disclosure control procedures to adhere to laws and ordinances in Japan and overseas, to implement the accurate, fair and timely disclosure of information and comply with the rules of financial instruments exchanges. As stakeholders strive to bridge the gaps of the growing ecosystem and use advanced technology, the uptake in the point of sale applications could underpin the sustainability portfolio, leveraging them to count on the foundation of robust corporate governance and accountability. Incumbent companies are responding to the unwavering popularity and significance of ESG goals to stay ahead of the curve. ESG programs on the global scale have become prevalent and frontrunner to bolster brand position in the long run. In August 2022, Toshiba Tec expressed contemplation in developing point of a sale software platform for U.S. retailers. The subsidiary of Toshiba is gearing to augment the number of employees by more than two-fold in the new Dallas hub by 2025. It is expected to have more than 30 software engineers in the U.S. hub by March-end 2023. The prevailing trends suggest exponential growth in digital payments could serve as a catalyst for the business strategies surrounding POS equipment. The global POS terminals market size stood at USD 85.16 billion in 2021 and could witness around 8.5% CAGR from 2022 through 2030. A notable shift towards a strong ESG proposition has become pronounced among financial stakeholders, investors, and companies that could exhibit potential growth opportunities emanating from ESG activities. About Astra – ESG Solutions By Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm. Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level. For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Share your concerns and queries, we can help! San Francisco, January 17, 2023: An uptake in high-profile data breaches and the exponential rise in digitization have redefined the dynamics in the cybersecurity industry. Stakeholders have become cagey towards data management practices and cybersecurity vulnerabilities. Lately, companies have started reporting on environmental, social and governance (ESG) performance, largely spurred by public opinion, regulatory requirements and soaring demand from stakeholders. ESG-focused businesses and organizational practices are expected to gain ground to maintain and achieve cyber resilience. With sectors such as fintech companies, oil and gas, financial services, public utilities and retail under immense pressure from the board of directors, investors and other stakeholders to be more transparent, industry players are expected to bank on sustainability.
Incorporating factors beyond financial into assessments of company performance have become paramount amidst a surge in cyberattacks. For instance, in November 2022, Microsoft reportedly blamed a Russian GRU hacking group for cyberattacks on transportation and other logistics industries in Poland and Ukraine. Moreover, surging cybercrime costs, such as lost productivity, destruction and damage of data, intellectual property theft, post-attack disruption, fraud, embezzlement and stolen money, have compelled stakeholders to rethink their strategies. Cybersecurity Ventures states global cybercrime costs could touch USD 10.5 trillion annually by 2025. World Economic Forum’s Global Risks Perception Survey 2021-2022 listed environmental risks as the five most critical long-term threats. Discover more regarding the practices and strategies being implemented by industry participants in the Cyber Security Industry ESG Thematic Report, 2023, published by Astra ESG Solutions Notably, stakeholders are likely to foster ESG reporting practices to bolster transparency as cyber resilience has become a force to reckon with to augment sustainable earnings. Potential stakeholders envisage a sustainability portfolio as the top agenda amidst issues, including climate change and anti-corruption. Industry players are slated to keep ESG goals at the forefront for an expedition of inclusion, fairness and equitable access to opportunities and ensuring a regenerative and sustainable future. Cisco Emphasizes Environmental Stewardship to Tap into the Growth Potentials Cybersecurity firms have reinforced their position in the global landscape with an increased focus on the ESG pillars. Notably, environmental stewardship has come to the fore to steer the protection and responsible use of the natural environment sustainably. For instance, Cisco is guided by its corporate Environmental Policy and ISO 14001 Environmental Management System (EMS). The company had 30 sites with ISO 14001 certification in the fiscal year 2021. In April 2021, Cisco announced it would be infusing USD 100 million to address the climate crisis and help reverse the climate change impact over ten years. Furthermore, in the fiscal year 2022, it rolled out the Environmental Sustainability Specialization (ESS) to help channel partners promote product takeback, educate customers, boost their sustainability practices and move to circular business models. During the same period, the company came up with Cisco Green Pay to assist customers in building an environmentally friendly technology strategy to attain ESG goals. It has also furthered its investments in state-of-the-art technology to help users leverage grid decarbonization, monitor grid reliability, water and transportation systems and bolster the workplace. The U.S.-based company remained instrumental in leveraging employees to work from home with AnyConnect VPN, WebEx by Cisco and TelePresence. Social Performance Gains Ground with McAfee Propelling ESG Profile With cybercrime-as-a-service becoming pervasive, cybersecurity has become an invaluable part of the ESG for companies, regulators, investors and consumers. The high number of incidents has propelled the need for optimized security operations and a strong social pillar. For instance, Fortinet is gearing to train 1 million people in cybersecurity by 2026. It cashed in on advanced technologies, such as machine learning (ML), artificial intelligence (AI) and deep learning to propel the design and growth of cybersecurity solutions and services. In addition, pay parity has garnered headlines amidst growing women’s participation in the corporate world and surging role in the global economy. To illustrate, in April 2022, McAfee celebrated three years of maintaining pay parity and claimed to be the first cybersecurity company to attain the policy. Besides, the representation of women was pegged at around 30.9% in 2021, up from 27.6% in the preceding year. The company has also upped its focus on diversity as 16.3% of new hires in the U.S. were underrepresented professionals (Black, American Indian, Hispanic / Latinx, multiracial and Pacific Islande) in 2021. Get more insights about how key industry participants like Cisco Systems, Inc., Palo Alto Networks, McAfee, Inc., Broadcom, and Trend Micro Inc are identifying, analyzing and mitigating ESG risks and ensuring compliance Companies have fueled their efforts to set audacious goals to communicate the company’s development transparently, boost women’s participation and design long-term sustainable programs that address social impact. To illustrate, around 31% of external hires for VP and above positions in Palo Alto Networks identify themselves as women. Besides, 78% of leadership teams have diverse representation and the company aims for 100% diversity by 2025. The company also bolstered safety in a hybrid work environment. In July 2022, Palo Alto Networks underpinned its Global Security and Safety team by hiring a Senior Global Environmental Health & Safety Manager. It has also underscored its position in the human rights field with “industry best practices” to analyze risks for cases of human rights violations in the supply chain. Broadcom Fosters Governance Portfolio Well-established companies are gearing to propel their ESG performance with a bullish approach toward governance policies. Stakeholders, stockholders and employees are expected to focus on the corporate governance framework for accountability and transparency. Prominently, in February 2021, Broadcom adopted the name Nominating, Environmental, Social and Governance Committee (NESG Committee), doing away with the term “Nominating and Corporate Governance Committee.” The company found in its 2021 Employee Ethical Culture Survey that 96.1% of employees were acquainted with the efforts of the compliance and ethics function. It also expedited compliance training as it noted that more than 99% of its employees completed the course in 2021. During this period, it rolled out the Global Compliance Ambassador program to solidify compliance culture. In essence, the U.S.-based company listed corporate governance, cybersecurity and data privacy, ethics and integrity and product quality in its 2021 ESG priorities. Is your business one of participants of the global cyber security industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices. Key players are leaving to stone unturned to underscore social responsibilities and provide avenues of growth to stakeholders. In doing so, the Board of Directors at Fortinet established the Social Responsibility Committee to introduce the highest level of governance in CSR issues. The company uses corporate governance practices to ensure compliance with all laws and do business ethically. Besides, there has been a surge in independent directors across industry verticals as companies vie to enhance their sustainability portfolio. To illustrate, around 75% of board directors are independent at Palo Alto Networks, while approximately 50% of BoD are diverse with different race, gender, nationality or ethnicity. In the fiscal year 2022, the company established a Security Committee of the Board to boost oversight about security issues, such as cybersecurity. The competitive landscape alludes to an increased focus on cybersecurity leaders emphasizing innovations and technological advancements. Forward-looking companies and governments are poised to foster their ESG practices to keep abreast with the trend. In October 2022, the Cybersecurity & Infrastructure Security Agency (CISA) joined forces with the National Institute of Standards and Technology and the interagency community to release cross-sector Cybersecurity Performance Goals (CPGs). Meanwhile, in 2021, Fortinet has a dedicated Human Rights Policy to propel ethical business and responsible product use. Browse more ESG Thematic Reports from the Technology Sector, published by Astra – ESG Solutions About Astra – ESG Solutions By Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm. Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level. For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Share your concerns and queries, we can help! San Francisco, December 20, 2022: With the world observing unprecedented challenges and the influence of climate change, the water and wastewater treatment industry size could be pronounced on the back of bullish investment in a sustainable future. Developments of environmental, social, and governance practices will help stockholders map impacts to their value chain, enable performance reporting and tracking and exhibit a corporate commitment to sustainable growth. Industry leaders are expected to shift their attention to the impact of water shortages, soaring prices, and surging regulations in their decision-making. Stakeholders are emphasizing 4R—reduce, reuse, recycle and reclaim—to streamline wastewater treatment and propel ESG compliance. Investors and consumers are poised to focus on the ESG profile and minimize operational risks amidst concerns about pollution, energy consumption, climate change, and the rising usage of chemicals. The World Resources Institute forecasts a 56% deficit of freshwater by 2030, compelling businesses to propel the management of water and wastewater treatment. The prevalence of water pollution and its impact on global health has furthered the need for setting and achieving ESG goals. Sustainable wastewater management has gained ground amidst an uptake in wastewater generation. For instance, in 2021, Merck Group produced around 13.3 million cubic meters of wastewater, while discharging approximately 9.5 million cubic meters of freshwater in surface waters. The company aims to minimize possibly harmful residues in wastewater by 2030. The surge in municipal wastewater and the prevalence of sewage have prompted stakeholders to emphasize environmental, social, and governance pillars to keep up with the global trend. Read more form the Water and Wastewater Treatment Industry ESG Thematic Report, 2022, published by Astra ESG Solutions Environmental Perspective Investors, suppliers, and other stakeholders have prioritized the upsides of water treatment projects to minimize power consumption, reduce water use from the local supply, free up space and reduce off-spec discharge risk. Although the majority of Americans have access to safe drinking water, harmful contaminants, including copper, lead, and arsenic, have been found in tap water. Leading companies are expected to further their efforts to contain negative environmental impacts from chemical spills, wastewater discharges, or water quality violations. For instance, California Water Service Group asserts its customers saved 47.8 million gallons of water in 2021 with increased saving efficiency measures. The public utility company assesses treatments on an industry-wide level, conducts audits, and undertakes regular maintenance of wastewater treatment systems. ESG considerations have become a management priority with wastewater reduction slated to foster the company’s environmental profile. Xylem, Inc. has set a bullish goal to recycle 100% of its wastewater by 2025. In May 2022, it introduced a smart wastewater treatment solution that can reduce operating costs and energy use by 25%. In April, the company announced an infusion of USD 20 million to foster innovative water and industrial technologies. Besides, Ecolab claims it helps customers manage 1 trillion gallons of water through the use of real-time data, management software tools, innovative technologies, and treatment services. It also aims to conserve around 300 billion gallons of water annually by 2030. The company has also designed a wastewater treatment station in France to minimize water discharge to the city sewer network by approximately 80%, enabling the facility to reuse around 20 million gallons of water each year. Social Perspective Stakeholders have furthered their efforts on workforce development, diversity, equity, safety, and health. Sustainable investors are likely to respond to the expanding scope of the social pillar as businesses and technological advances become interconnected. ESG-focused company Xylem remained at the helm with a roughly 80% score. The growth trajectory is partly attributed to robust human rights policies. Meanwhile, Ecolab has furthered its commitment to propel diversity and equity through its 2030 Impact Goals. The company contemplates augmenting its management-level gender diversity to 35% and management-level ethnic diversity to 25%. It has emphasized educating interview teams, recruiters, and hiring managers on bias, diversity, and inclusion. For instance, while 35% of all new management-level hires in the U.S. were people of color in 2021, globally around 38% of all new management-level hires were women. Industry participants are striving to retain and attract talent—Veolia invested in an ambitious policy as the average number of hours of training per employee touched 21 in 2021. It aims to minimize the frequency of workplace accidents from 6.65 in 2021 to 5 by 2023. Besides, Ecolab hired 8,905 new employees in 2021, while the average turnover rate was pegged at 17.4%. Meanwhile, Xylem provided 12.61 hours of training per employee in 2021 and has introduced employee training programs, such as Employee Network Groups, Ignite, and Watermark. It has strengthened workplace safety by introducing safety alerts and expanding digitally connected safety programs. According to Xylem Sustainability Report 2021, 49 of its facilities witnessed zero accidents in 2021, along with Querétaro, Mexico, São Paulo, Brazil, and Bogotá, Colombia facilities achieving five years without any recordable cases. Understand how key industry participants like Xylem, Inc., Ecolab, Inc., and Veolia Environment S.A. are identifying, analyzing and mitigating ESG risks and ensuring compliance Governance Perspective Leading players have pushed the bar with growing traction for strong corporate governance that bolsters accountability, underpins the long-term interest of shareholders, and propels brand position. To illustrate, Xylem’s Board of Directors (end of 2021) comprised ten members, and all except CEO were independent. The soaring significance of ESG encouraged the organization to form the ESG Reporting Working Group to advise on, review and guide the evolution of its approach to ESG disclosure. It has also adopted 2025 Sustainability Goals to provide 35% of women with leadership roles by 2025. Robust corporate governance is paramount to growing and sustaining businesses as companies seek to comply with core values and commitment to ethical standards and board diversity. For instance, 5 out of 12 California Water Service Group directors are women and the organization has 10 out of 12 independent director nominees. The utility company showed traction for a host of public policy initiatives in 2021, including the provision of up to USD 55 billion to address water infrastructure challenges. According to Astra’s scoring model, Dupont de Nemours, Inc. was placed at the top in terms of corporate governance. The trajectory is mainly attributed to the governance standards and credibility among stakeholders—more than 90% of the board comprises independent directors. Furthermore, it has set the Sustainability Oversight Committee to review and approve sustainability policies and initiatives and oversee the Strategic Leadership Council’s work. In doing so, the company has embedded ethics and sustainability across global supply chains to propel a circular economy, climate change, and diversity. Well-established players and new entrants are expected to propel innovations and sustainability portfolios in treatment, water reuse, and -loss. Stakeholders are touted to expedite technological advancements, mergers & acquisitions, and commercial and social innovations. To illustrate, in August 2022, Veolia announced it inked a merger agreement with Vigie SA (previously known as Suez SA). While the actual merger took place in January 2022, the final merger was scheduled for October 2022. With industry leaders emphasizing the reuse and recycling of wastewater, prevailing dynamics are likely to reshape the ESG landscape. An emphasis on cost reduction in wastewater treatment plants could help customers keep up with their operational budget. For instance, digitization is likely to help companies cash in on water, cost, and energy efficiencies. Advanced solutions can provide real-time data to offer recommendations and suggestions to optimize aeration and water usage. Accordingly, the water and wastewater treatment market size could garner USD 41.8 billion by 2030. Bullish demand for wastewater treatment technologies and rigorous regulations will provide tailwinds to the global landscape. Browse more ESG Thematic Reports from the Utilities Sector, published by Astra – ESG Solutions About Astra – ESG Solutions By Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm. Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level. For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Let Astra know your concerns and queries, and we can help! San Francisco, December 13, 2022: The Growth of the solar energy generation industry will depend on the proactive and relentless efforts of forward-looking companies to navigate the risks posed by climate change. Current and predicted issues expected to arise due to climate change have brought a paradigm shift in the ways businesses assess risk, and plan and deploy resources. Sustainability, security compliance, safety, business growth, and innovation have become instrumental to progress toward implementing best practices in environmental, social, and governance portfolios. The trend for green, sustainable, and safe pathways is likely to pay off and help make better economic sense in the long run. Prominently, solar energy generation has garnered popularity as one of the cheapest forms of electricity and will be a solid proposition to tap potential in energy generation.
Read more form the Solar Energy Generation Industry ESG Thematic Report, 2022, published by Astra ESG Solutions In common parlance, solar energy plays an invaluable role in boosting sustainable development energy solutions. Solar energy generation applications are likely to play a vital role in fostering an environmentally friendly energy agenda. In essence, solar panels have gained ground to generate clean power and contain the cost of electricity. To illustrate, in June 2022, the U.S. Solar Buyer Consortium announced an infusion of USD 6 billion to bolster the domestic solar panel ecosystem with the supply of around 7 GW of solar modules per year from 2024. It is worth mentioning that the Solar Energy Industries Association asserts that the U.S. installed 23.6 gigawatts of solar capacity in 2021. The federal investment tax credit, along with renewable energy credits, advanced technologies, reduced installation costs, and financing arrangements, offers promising opportunities for stakeholders to emphasize solar power as an indispensable part of the ESG goals across the U.S. Exelon Corporation Harnesses the Potential of ESG With environmental issues spurring governance and social practices, investors are curious to know how businesses minimize their carbon footprint. Stakeholders are responding to these trends through ESG strategies. Several companies have come to the fore to inject funds into renewable energy to propel ESG sustainability goals. For instance, the Exelon Corporation reportedly avoided 78 million metric tons of GHG emissions with its zero-carbon nuclear generation. The company witnessed 161 million MWh zero-carbon generation, around two-fold more compared to the next largest producer. In July 2022, Exelon released the 2021 Corporate Sustainability Report and noted that it poured USD 6.6 billion in energy infrastructure in 2021 and is contemplating raking in USD 29 billion from 2022 through 2025. On the environmental front, the company claims to be working to minimize impacts on biodiversity and watersheds. It has also spurred sustainability through corporate governance—assessing accountability and risk. Understand how key industry participants like Exelon Corp., E.On S.E., and Duke Energy Corp. are understanding and mitigating ESG risks and ensuring compliance Does your business participate in the global energy sector? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices. E.ON SE at Pole Position in ESG Disclosure; Emphasizes Green Electricity Sustainability strategies and disclosures have come on the horizon amidst ESG being tasked with the goal of decarbonizing the global economy. When it comes to ESG disclosure, E.ON SE is at the helm, followed by Exelon Corporation and Equinor ASA. It is gearing to be climate-neutral by 2040 and its corporate governance is increasingly linked to its ESG management aspects. CDP, an international association of investors that independently assesses the transparency and detail of companies’ climate reporting, lauded E.ON as a Supplier Engagement Leader in 2021. In a bid to bolster the green-power community across Europe, E.ON Home, an energy management app, was introduced in the U.K. Similarly, it claims over 10 million customers received certified green electricity products in 2021. Incumbent players have reinforced their efforts to underpin the decarbonization of Europe. The company contemplates investing €1 billion (around USD 1 billion) annually through 2026 to significantly boost the infusion of funds into energy networks. It is geared to foster sustainable homes, work, and lifestyles with innovative solutions, including self-generated green electricity. It aims to install approximately 5,000 new charging points through 2026. The Germany-based company plans to pour €27 billion into energy transition through 2026. Furthermore, the company has also upped investments to provide green energy to take carbon neutrality and sustainability to the next level. For instance, in April 2022, E.ON inked a deal with Solar Market to create Green Cloud to offer green energy to corporate customers across Hungary. The competitive landscape alludes to an increased focus on ESG framework and sustainable policies from forward-looking companies, such as E.ON SE, Adani Green Energy Limited, Equinor ASA, Nextera Energy, Inc., Exelon Corporation, Duke Energy Corporation, Solaria Energía y Medio Ambiente and ReNew Wind Energy (Jath) Limited. Besides, organic and inorganic growth strategies have become pronounced, underscoring solar energy generation market share. To illustrate, in November 2022, Equinor announced the acquisition of BeGreen, a Danish solar developer, to propel the solar PV portfolio. Meanwhile, in April 2022, the Norway energy giant forayed into the Australian market through investments in RayGen to provide impetus to solar energy. In November 2022, Equinor expressed contemplation to augment investment in renewables by two-fold and that renewable energy will account for approximately 20% of the company’s investments in 2022. Amidst the trilemma of the Russia-Ukraine war, energy security, and affordability, emphasis on renewable energy sources could be a game-changer with considerable environmental upsides in solar energy generation. Browse more ESG Thematic Reports from the Energy Sector, published by Astra – ESG Solutions About Astra – ESG Solutions by Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm. Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level. For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Let Astra know your concerns and queries, and we can help! San Francisco, December 12, 2022: Like-minded stakeholders, innovators, and entrepreneurs are counting on hydrogen generation to combat climate change and dramatically minimize CO2 emissions. Well-established players are prioritizing decarbonized hydrogen to propel the green portfolio. The environmental, social, and governance (ESG) performance has received an impetus with bullish government policies. In April 2021, U.S. President Joe Biden announced a robust goal of minimizing greenhouse gas emissions by 50-52% by 2030. Green hydrogen—created from the electrolysis of water—has gained ground as the most environmentally friendly fuel to produce energy without emitting CO2. In common parlance, hydrogen is a major enabler of clean energy transition and produces zero emission at the point of use. Exponential demand for green hydrogen has boded well for ESG policies amidst the fuel warranting significant storage, transportation, and production infrastructure. The U.S. has proposed Climate Disclosure Rule requiring public companies to make GHG-related disclosures. Besides, it mandates public companies to disclose Scope 1, 2, and 3 emissions. The disclosure rule is poised to prompt and incentivize industry participants to infuse funds into greener energy. Hydrogen could be a silver bullet to minimize GHG emissions. Industry players are gearing up to provide a sustainable future with cost-effective, dependable, and accessible green hydrogen energy. Read more form the Hydrogen Generation Industry ESG Thematic Report, 2022, published by Astra ESG Solutions Environmental Perspective As stakeholders emphasize a clean hydrogen economy to boost productivity, reduce carbon footprints and minimize operating costs, bespoke hydrogen generation solutions could bring a paradigm shift globally. Investors are aligning their businesses with environmental performance, with companies striving to inject funds into clean energy technologies to foster energy efficiency and cut climate-changing emissions. Even though hydrogen is a low-carbon energy source, transportation of hydrogen using internal combustion engine trucks contributes to GHG emissions. These trends have compelled leading companies to invest in green hydrogen. In 2022, Plug Power acquired Joule Processing to bolster its green hydrogen ecosystem and reduce the logistics networks and hydrogen infrastructure cost. The company plans to augment the green hydrogen production to 200 TPD by 2023 across North America. Leading players aspire to infuse funds into clean energy technologies to reduce fleet emissions. Linde asserts around 83% of GHG emissions could be reduced from transportation using renewable diesel. The company has implemented an environmental management system in line with ISO 14001—the international standard for EMS—for the management of atmospheric emissions and waste, to leverage pollution prevention and control, management of environmental impacts from transportation, and protection of biodiversity and natural resources. Around 99% by weight of the raw materials used in 2021 were renewable raw materials, such as produce hydrogen, oxygen, gaseous nitrogen, carbon dioxide, and argon. It has an audacious target to cut absolute GHG emissions by 35% by 2035 and claims it helped customers do away with over 88 million metric tons of CO2 in 2021. Social Perspective Investors prioritize community investment, diversity & inclusion, ethical supply chain, harassment-free workplace, and employee health. Prominently, these factors act as a marker shaping the future of business, creating resilient business plans, and cementing equality of opportunity. Linde has been at the helm with over 80% social score as it integrates sustainable strategies into business strategy. The company introduced the Global Giving program to infuse over USD 4 million into educational programs. The Board of Directors and CEO are accountable for social issues affecting Linde. Meanwhile, the CHRO oversees management and retention, talent sourcing, inclusion, and diversity. However, the global voluntary turnover rate was pegged at 6.7%, according to its Sustainable Development Report 2021. Linde has furthered its efforts on a safe operating environment through investment in cutting-edge technologies. For instance, in 2021, the industrial gas company invested around 5 million hours in safety training for its contractors and employees. The company is leaving no stone unturned to promote gender diversity. It introduced a “30 by 30” gender balance goal intending to have 30% females at all professional levels by 2030. The company is emphasizing training for inclusion, business accountability, and strengthening the pipeline program to achieve the ambitious goal. IndianOil has propelled its recruitment strategy and equal opportunities policy to develop, attract and retain top talent from diverse backgrounds. According to its Sustainability Report 2020-21, the company hired 490 new employees; 90% of these hires were below 30 years of age, while 43 were female during the year. It also formulated Talent Vision and Strategy Framework for the 2021-24 period to foster learning, employee engagement, and workplace safety, among others. Notably, the Indian giant rolled out the revamped employee satisfaction and engagement survey in 2021—Pratidhwani—to underscore engagement activities and understand the feedback and opinions of internal stakeholders. The company has also established reporting kiosk to report near-miss incidents. It conducts regular safety audits to comply with standard operating procedures, detect unsafe and hazardous acts, and analyze the effectiveness of safety systems. The energy major has developed Emergency Response and Disaster Management Plans (ERDMP) to streamline preparedness during fires, spills, leaks, explosions, and other risk scenarios. The Indian PSU asserts its 100% locations are equipped with ERDMP plans and performs liaison activities with central government agencies, including National Disaster Response Force (NDRF). Amidst strong safety policies, IndianOil recorded 8 cases of fatalities during 2020-21, a two-fold rise from 2019-2020. Understand how key industry participants like IndianOil Corporation, Linde, PLC., and Air Products & Chemicals, Inc. are identifying, analyzing and mitigating ESG risks and ensuring compliance Governance Perspective Ensuring compliance with the rules, regulations, and laws has become a major prerequisite for sound corporate governance. NEL ASA published its first sustainability report in 2020 with the goal of 100% of executive management and other employees completing anti-corruption training by 2022. In September 2020, the company launched its whistleblowing channel—NEL Ethics Hotline. In the next month, it introduced the Nel Anti-Bribery and Corruption Policy and the Nel Competition Law Policy. A transparent government structure is a vital cog in the governance pillar for sustainable growth. Companies such as Plug have set the goal of continuing the development of ESG governance to boost transparency, standardization, and consistency across the landscape. The CEO at Plug organizes weekly hall meetings with employees to share updates on initiatives and answer questions and queries. The company provided compulsory training on vigilance to eradicate corruption and bribery. Air Liquide has propelled its sustainability portfolio, contributing to ESG commitments and creating positive impacts for climate, people, and health. In April 2022, the French company published its first Sustainable Development report, taking a giant leap toward transparency. In March 2022, the Group laid out a strategic plan—ADVANCE—to combine financial performance, environmental and societal performances. The company aims to augment the investments to around 16 billion euros (approximately USD 16.5 billion) from 2022 through 2025, with 50% earmarked for the energy transition. The France-based company aims to increase the percentage of women among managers and professionals to 35% by 2025, up from 31% in 2021. The company has spotlighted an international, independent, gender-balanced board of directors. Prominently, 50% of its board are women and around 92% are independent members. In June 2022, the board of directors announced the separation of the roles of the Chief Executive Officer and the Chairman of the Board of Directors. With a strong case of independent directors in better-performing organizations, forward-looking companies have reinforced their governance profile. In essence, Linde’s 8 BOD are independent non-executive directors. The board has fostered its governance structure with a focus on, including but not limited to split roles of Chairperson and CEO, director independence, board effectiveness, ideal board committees, alignment with shareholder interests, shareholder outreach, limits to service, and board diversity. In 2021, the BOD included a new Sustainability Committee emphasizing clean energy initiatives and environmental aspects. During this period, the executive leadership team reviewed the ESG presentations prepared for the BOD. Does your business participate in the global energy sector? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices. Governing bodies and other stakeholders are emphasizing sustainability development targets through innovations and decarbonization investments. In December 2021, the European Commission reportedly proposed an EU framework to boost hydrogen, decarbonize gas markets and minimize methane emissions. The European Network of Network Operators for Hydrogen (ENNOH) would be formed to underpin dedicated hydrogen infrastructure, interconnecting network infrastructure, and cross-border coordination. The new rule is expected to expand in two phases with access to the separation of hydrogen production, tariff setting, transportation activities, and hydrogen infrastructure. Industry participants are striving to create a business model that enhances social, economic, governance, and environmental values. Well-established players are prioritizing hydrogen as a cornerstone of the energy transition. For instance, Air Liquide has earmarked 8 billion euros (around USD 8.25 billion)—over the next ten years—for the full hydrogen value chain, such as electrolysis, supply chain, carbon capture, and storage. It expects its hydrogen revenue to be pegged at 6 billion euros (approximately USD 6.2 billion) by 2035. In 2021, Shell initiated production at the electrolyzer with the 10 MW proton exchange membrane using renewable energy to produce up to 1,300 tons of decarbonized hydrogen annually. In January 2022, Shell New Energy was involved in a joint venture with Zhangjiakou City Transport to start a hydrogen electrolyzer in China with a 20 MW capacity. It expected the electrolyzer to render around 50% of the total green hydrogen supply for fuel cell vehicles during the Winter Olympic Games in the Zhangjiakou competition zone. The hydrogen generation market size garnered USD 129.85 billion in 2021 and could witness a 6.4% CAGR from 2022 to 2030. Soaring hydrogen demand and a surge in global spending on energy research will provide a quantum leap to the ESG efforts. Browse more ESG Thematic Reports from the Energy Sector, published by Astra – ESG Solutions About Astra – ESG Solutions By Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm. Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level. For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research Need expert consultation around identifying, analyzing and creating a plan to mitigate ESG risks related to your business? Share your concerns and queries, we can help! The global water soluble fertilizers market size is expected to reach USD 22.0 billion by 2024, at a registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for the product as they improve crop quality and increases crop production output significantly will augment market growth over the forecast period. Increasing crop production in countries including China, India, the U.S., Indonesia, Brazil, Japan and Mexico on account of growing population will drive industry size over the next eight years. Decreasing availability of arable land is expected to fuel the product demand over the forecast period. Horticultural crops are projected to show significant revenue gains at a CAGR of 6.8% from 2016 to 2024 owing to rising consumption of fruits, vegetables, spices and medicinal plants. Moreover, rapid economic development, government support, advancements in fertilizer manufacturing is anticipated to propel market demand. Further key findings from the report suggest: • Foliar accounted for 30.4% of the overall volume and will show steady growth in light of rising application in various fruits & vegetables including tomatoes, beans, and melons. However, high cost as compared to fertigation will pose a challenge to its growth. • Europe accounted for 37.6% of the overall revenue share in 2015 and is expected to witness significant gains in light of rising food security concern owing to growing population along with high export demand for food products including wheat and cereals from Germany, France, Italy and UK. Moreover, the presence of key participants including Yara International, Bunge Ltd., Agrium, Eurochem, Potash Corp, and CF Industries will promote industry growth. • Latin America will witness substantial revenue rise at a CAGR of 7.2% from 2016 to 2024 on account of the presence of various major participants including The Mosaic Company, Potash Corp, and Haifa Chemicals. Development of agricultural policies and government schemes to promote micro irrigation systems, which dispenses water soluble fertilizers will augment industry size. • Water soluble fertilizers industry is dominated by major participants including Agrium Inc., Potash Corp, Israel Chemicals Limited, The Mosaic Company, K+S AG, and Yara International ASA. Ongoing product innovation to produce efficient and cost-effective fertilizers is expected to lead to industry expansion over the next eight years. • In April 2016, Yara International expanded the Rio Grande fertilizer plant capacity in Brazil to create one of the most modern fertilizer sites. In December 2015, Yara International acquired Greenbelt Fertilizers to expand the fertilizer business in Zambia and surrounding areas that were experiencing fast agricultural growth. In March 2015, Israel Chemicals planned to build a potassium nitrate production plant to meet growing demand for soluble specialty fertilizers. Fertilizer Industry Size was valued at USD 201.3 Million Tons in 2021 and is projected to expand at a CAGR of 1.2% during 2022 to 2030. Water Soluble Fertilizer Market Segmentation Grand View Research has segmented the global water soluble fertilizers market on the basis of product, crop type, application, and region: Water Soluble Fertilizers Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024) • Nitrogenous • Phosphatic • Potassium • Micronutrients • Secondary nutrients Water Soluble Fertilizers Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024) • Field • Horticultural • Plantation • Turf & ornamental Water Soluble Fertilizers Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024) • Fertigation • Foliar Water Soluble Fertilizers Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024) • North America
About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Read More The global breast pump market is expected to reach USD 5.20 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 8.3% from 2022 to 2030. Improving healthcare infrastructure in emerging economies, increasing global women’s employment rates and the presence of favorable demographics are the key driving factors for the breast pump market. Moreover, the market has seen significant growth over the last few decades, owing to increasing product launches by key players, and rising R&D activities. For instance, in March 2021, the Philips Avent Double Electric Breast Pump, Advanced is the top brand of mothers and children care goods recommended by pregnant women and mothers in the U. S. It features Natural Action technology, a powerful combination of suction and nipple stimulation that simulates the distinctive wave-like tongue motion that occurs when the baby sucks. This technology initiates the milk flow faster than previous models, enabling moms to express their milk more effectively. Similarly, in October 2021, Willow also launched its Perfect Pumping Bra, developed by The Dairy Fairy. Willow pump bra was designed to provide moms with exceptional comfort, support, and a perfect fit, helping them to have the best possible pumping experience. The appropriate fit can help boost the mother’s milk flow while using wearable breast pumps. Adjustable straps, a customizable mesh panel, beautiful lace embellishments, and a patent-pending double extender clip characterize the Willow Perfect Pumping Bra. Furthermore, the wire-free bra’s luxurious fabric is machine washable and elastic while still being designed to secure the Willow pump for an ideal pumping experience. As a result, product launches with additional benefits are expected to increase market growth for these breast pumps over the projection period. Breast Pump Market Report Highlights • In terms of product, closed system segment held the largest market share of 65.3% in 2021 and is expected to witness the fastest growth over the forecast period due to its several benefits and high adoption, as compared to the open system. • In terms of technology, electric pumps segment held the largest share in 2021 owing to its flexibility and ease of use. • In terms of application, hospital grade segment held the largest market share in 2021, owing to the increasing number of hospitals and rising healthcare expenditure. • North America is expected to dominate the market growth over the forecast period owing to the rising women’s employment and large presence of key players operating in the market. Breast Pump and Breastfeeding Accessories Market Size was valued at USD 4.06 Billion in 2021 and is projected to expand at a CAGR of 7.8% during 2022 to 2030. Breast Pump Market Segmentation Grand View Research has segmented the global breast pump market report on the basis of product, technology, application, and region: Breast Pump Product Outlook (Revenue, USD Million, 2018 – 2030) • Open System • Closed System Breast Pump Technology Outlook (Revenue, USD Million, 2018 – 2030) • Manual Pumps • Battery Powered Pumps • Electric Pumps Breast Pump Application Outlook (Revenue, USD Million, 2018 – 2030) • Personal Use • Hospital Grade Breast Pump Regional Outlook (Revenue, USD Million, 2018 – 2030) • North America
• Ameda (Magento, Inc.) • Hygeia Health • Medela AG • Koninklijke Philips N.V. • Lansinoh Laboratories, Inc. • Pigeon Corporation • Motif Medical • Chiaro Technology Limited (Elvie) • Willow Innovations, Inc. • Spectra Baby USA Request free sample copy of Breast Pump and Breastfeeding Accessories Industry Data Book @ https://www.grandviewresearch.com/sector-report/breast-pump-breastfeeding-accessories-industry-data-book/request/rs1 About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. The global IVD quality control market size is expected to reach USD 1.24 billion by 2026, according to a new report by Grand View Research, Inc. The market is projected to witness a CAGR of 4.1% over the forecast period. Continually evolving technology-oriented changes in the diagnostics field and growing need to ensure patient safety necessitate the implementation of quality assurance programs in various medical disciplines including radiology and Point-of-Care (PoC) devices. Patients rely on self-testing IVD devices for long-term disease management and hence it is important for such devices to be checked, in terms of result reproducibility and validity, to guarantee patient safety. Rising number of certified clinical laboratories offering dependable IVD-based diagnostic services directly correlates with increased patient confidence, thus driving the market. In addition to quality assessments, amendments to the regulatory framework are made intermittently to enhance the existing standards with the main objective of safeguarding qualitative superiority of the diagnostic services. In May 2016, the European Union passed an agreement to update the pre-existing regulations pertaining to IVD devices, wherein the updates were in concern with raising the patient safety levels, particularly for disabled persons. The presence of third-party agencies for independent assessment of the IVD devices is expected to elevate the current safety standards, which will drive the In Vitro Diagnostics (IVD) Quality Control market further. Further key findings from the study suggest: • In 2018, the clinical chemistry was the second-largest application segment of the global IVD market, in terms of market share • Demand for preventive medicine and rapid transformation of clinical laboratories into highly automated and efficient businesses are some of the factors for the segment’s growth • Molecular diagnostics is projected to be the fastest-growing segment due to increasing technical complexity of molecular diagnostic testing and need for quality evaluation to ensure standards • These tests are of prime importance as the outcomes enable healthcare practitioners make critical treatment decisions • Hospitals was the largest segment in 2018 due to the presence of advanced technology-based devices like Next Generation Sequencing (NGS) and microarrays, and rising applications of the optimized quality-control procedures • North America was the dominant regional market in 2018 due to the presence of over 150,000 registered diagnostics labs and is likely to maintain the dominance throughout the forecast years • Siemens Healthcare GmbH; Roche Diagnostics; Alere, Inc.; Abbott Laboratories, Inc.; Qiagen N.V.; Bio-Rad Laboratories, Inc.; Quidel Corp.; Becton, Dickinson and Company; bioMerieux, Inc.; Sysmex Corp.; Sero AS; and Thermo Fisher Scientific, Inc. are some of the key companies in the global market The global In Vitro Diagnostics (IVD) and IVD quality control market combines to account for USD 112.79 billion in revenue in 2021, which is expected to reach USD 114.73 billion by 2030, growing at a cumulative rate of 0.2% over the forecast period. In Vitro Diagnostics Quality Control Market Segmentation: Grand View Research has segmented the global IVD quality control market on the basis of application, type, end use, and region: IVD Quality Control Application Outlook (Revenue, USD Million, 2014 – 2026) • Immunochemistry • Hematology • Clinical Chemistry • Molecular Diagnostics • Coagulation • Microbiology • Others IVD Quality Control Type Outlook (Revenue, USD Million, 2014 – 2026) • Quality Control
• Hospitals • Laboratories • Home-care • Others IVD Quality Control Regional Outlook (Revenue, USD Million, 2014 – 2026) • North America
The global wearable breast pumps market is anticipated to reach USD 975.5 million by 2030, registering a CAGR of 8.21%, according to a new report by Grand View Research, Inc. Favorable reimbursement policies, and increasing patient disposable income are further anticipated to propel the demand for wearable breast pumps. The decreasing infant mortality rate is supplementing the growth of the market. For instance, according to Knoema, the infant mortality rate in Japan fell from 13.4 deaths per 1,000 births in 1970, to 1.80 deaths in 2019. Similarly, as per Statistics Canada, the infant death rate has fallen from 4.8 per 1,000 in 2018 to 4.5 in 2020 in Canada. Such instances are expected to increase the demand for wearable breast pumps, thereby, propelling the market growth over the forecast period. Increase in women’s employment rate is expected to be a high impact rendering driver of the market. For instance, as per International Labor Organization, the female working population in Australia has touched 60%. Similarly, as per the similar source, the female employment rate in high income countries is estimated to be 53%, whereas, the same in low income and upper middle-income countries is calculated to be 56% and 55% respectively. Working women have a relatively high disposable income, as a result can help the market impel. The presence of various e-commerce sites offering wearable breast pumps will further aid in the sales of the products through these sales channels in the forecast period. Willow, Elvie, Medela, and Amazon, are few prominent e-commerce sites that offers substantial discounts, and prompt customer service on various wearable breast pumps, owing to which individuals prefer to shop from online sites. The decline in the COVID-19 population is anticipated to boost market growth. Recently, many companies have called back their employees to work from office. For instance, companies such as Sun Pharmaceuticals, Biocon, and JP Morgan are planning to start work from office. This will surge the need for wearable breast pumps for working women, thereby propelling the market growth in post-COVID-19 time. Similarly, to cope with the rising demand many companies are launching new products and expanding their geographic presence. For instance, in February 2021, Medela LLC launched a new category expansion and breast care products with an aim of meeting customer requirements. This was expected to expand the customer base of the company. Wearable Breast Pumps Market Report Highlights • Based on components, the wearable pumps segment dominated the market with a share of 57.84% in 2021 and is also expected to witness the fastest growth rate owing to its increasing demand over the forecast period. As lactating mothers are becoming more aware of the importance and benefits of breastfeeding. • On the basis of technology, the battery powered wearable breast pump segment dominated the market with a share of 48.64% in 2021. This can be credited to their lightweight and compact designs. Moreover, women can also easily stash them into their bags and are barely noticeable. • North America dominated the market with the highest revenue share of 52.62% in 2021 owing to a rise in women’s employment rate in the U.S. and supportive reimbursement policies for wearable breast pumps. Breast Pump and Breastfeeding Accessories Market Size was valued at USD 4.06 Billion in 2021 and is projected to expand at a CAGR of 7.8% during 2022 to 2030. Wearable Breast Pumps Market Segmentation Grand View Research has segmented the global wearable breast pumps market based on component, technology, and region: Global Wearable Breast Pumps Component Outlook (Revenue, USD Million, 2018 – 2030) • Wearable Pumps • Accessories Global Wearable Breast Pumps Product Technology Outlook (Revenue, USD Million, 2018 – 2030) • Manual Wearable Breast Pumps • Battery Operated Wearable Breast Pumps • Smart Wearable Breast Pumps Global Wearable Breast Pumps Regional Outlook (Revenue, USD Million, 2018 – 2030) • North America
• Medela AG • Ameda, Inc. • Willow Innovations, Inc. • Philips • Elvie (Chiaro Component Ltd) • Freemie • BabyBuddha Products, LLC • Spectra • iAPOY • Lavie Mom Request free sample copy of Breast Pump and Breastfeeding Accessories Industry Data Book @ https://www.grandviewresearch.com/sector-report/breast-pump-breastfeeding-accessories-industry-data-book/request/rs1 About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. |
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