Rising Horizontal Drilling and Digital Oilfields Fuel Demand for Perforating Guns

According to the latest market research study published by P&S Intelligence, the perforating gun market was valued at USD 1,298.1 million in 2024 and is projected to grow at a CAGR of 4.9% during 2025–2032, reaching USD 1,881.4 million by 2032. This expansion is propelled by a combination of increasing oil and gas earnings, intensified exploration and production (E&P) activities, and the growing complexity of reservoir conditions. As well depths increase and shale gas exploration intensifies, particularly in offshore regions, the need for advanced perforation systems has surged.

Perforating guns play a critical role in oil and gas extraction by connecting the reservoir to the wellbore, enabling fluid flow through precision-shaped charges. The growing adoption of horizontal drilling and high-efficiency tubing-conveyed systems further reinforces the demand for these tools. Moreover, collaborations and product innovations—such as those led by Schlumberger, Hunting Energy Services, and other industry leaders—are continuously enhancing technical capabilities and strengthening market positioning.

Key Insights

• The tubing-conveyed perforation (TCP) system held the largest market share of 50% in 2024, favored for its ability to perforate long intervals in a single trip and enable immediate flow testing. TCP also allows underbalanced perforation and supports higher explosive charges, contributing to improved operational efficiency.
• The through tubing exposed gun system is the fastest-growing gun type category, driven by its lightweight design and flexibility in complex well structures.
• Horizontal wells dominated the market in 2024 with a 60% share, and this segment is expected to grow at a CAGR of 5.5% through 2032. This is due to technological advances in multi-stage hydraulic fracturing and the growing need for efficient reservoir stimulation in unconventional fields.
• The above 8,000 feet depth category held the largest share (50%) in 2024, owing to its application in deep and geologically complex wells requiring advanced perforation solutions.
• In terms of application, onshore projects led with 65% market share in 2024 and are projected to grow at the highest CAGR of 5.8%, attributed to existing infrastructure and increasing conventional and unconventional drilling activities.
• North America was the largest regional market in 2024 with a 35% share, led by the U.S. with 784 active oil and gas rigs. The region’s shift from vertical to horizontal drilling and expanding shale projects, particularly in North Dakota and the Permian Basin, are key growth drivers.
• Latin America is also emerging as a high-potential market, particularly due to Argentina’s Vaca Muerta shale basin, which holds vast reserves of shale oil and gas.
• Middle East and Africa is the fastest-growing regional market, with Saudi Arabia leading in market share and South Africa showing the fastest growth, supported by increased investment in exploration and infrastructure development.
• A major trend shaping the market is the adoption of digital oilfield technologies, including sensors, edge computing, AI/ML analytics, and digital twins. These innovations help reduce production costs, enhance safety, and improve real-time decision-making.
• Companies are deploying drones, robots, and AR/VR tools for remote inspection and field surveillance, further streamlining operations and minimizing risks.
• Rising exploration of unconventional oil and gas resources, which are expected to constitute 15% of global oil output by 2035, continues to create new opportunities for perforating gun manufacturers.
• The market remains moderately fragmented, with key players such as Schlumberger, Halliburton, Baker Hughes, Weatherford, NOV Inc., and DynaEnergetics leading innovation and expanding their portfolios through strategic partnerships and acquisitions.
• Notable recent developments include:
• Schlumberger's agreement with Petrobras in Dec 2024 to provide services at over 100 ultra-deepwater wells in Brazil.
• NOV Inc.'s acquisition of Fortress Downhole Tools in Oct 2024.
• Weatherford's acquisition of Datagration Solutions in Sep 2024.
• The launch of GEODynamics' EPIC Flex Orbit system in Sep 2024 and DynaEnergetics' DS Gravity 2.0 gun in Jun 2023.

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Rising Urban Population and Green Incentives Fuel China's USD 76.1 Billion Prefab Construction Surge

According to the latest market research study published by P&S Intelligence, the China prefabricated buildings market was valued at USD 40.8 billion in 2024 and is forecasted to surge to USD 76.1 billion by 2032, expanding at a strong CAGR of 8.3% during 2025–2032. This growth is primarily driven by robust government support for infrastructure development, the rapidly increasing urban population, and a growing demand for sustainable, cost-effective, and labor-efficient construction solutions.

China’s ambitious green infrastructure regulations, along with supportive initiatives such as tax incentives, low-interest loans, and green building certifications, are catalyzing the adoption of prefabrication. The government’s 14th Five-Year Plan mandates that at least 30% of new urban construction by 2025 be prefabricated, underscoring the sector’s strategic importance. Provinces like Zhejiang, Jiangsu, and Guangdong have launched pilot projects involving hospitals and schools to reinforce this approach. Furthermore, China’s urbanization rate—rising from 19% in 1980 to 64.6% in 2023, and projected to surpass 70% by 2030—is fueling the need for scalable, efficient housing and infrastructure solutions.

Key Insights

• The panel system dominated the product segment in 2024 with a 35% market share, owing to its user-friendly assembly, flexible designs, and fast deployment, ideal for large-scale residential and commercial construction.
• Cellular systems, featuring factory-built kitchen units and bathroom pods, are set to grow at the fastest CAGR of 8.3%, favored in sectors like healthcare and hospitality for their superior quality and efficiency.
• Among applications, the residential sector held the largest share at 40%, supported by urban migration and government programs for affordable rental housing in top-tier cities.
• The commercial segment is poised for the highest CAGR of 9.5%, driven by increasing demand for offices, hotels, and educational facilities, especially in cities such as Shanghai, Beijing, Shenzhen, and Chengdu.
• Bathroom pods led the module category with a 55% share in 2024 and are projected to maintain the highest CAGR of 10%, due to their time-saving, labor-reducing features and suitability for major projects.
• Concrete materials were the most preferred, accounting for 55% of the market, thanks to their durability, strength, and thermal efficiency, particularly in large residential and commercial structures.
• Metal-based prefab structures will witness the fastest growth at a CAGR of 9.2%, driven by their lightweight, ease of assembly, and rising demand in warehouse and factory construction.
• East China emerged as the dominant region, with a 35% market share in 2024 and the fastest CAGR of 8.5%, backed by favorable policies, robust infrastructure, skilled labor, and access to seaports.
• Major cities like Shanghai, Guangzhou, and Shenzhen are key hubs, benefiting from advanced technologies, public investment, and regional subsidies for sustainable construction.
• The market remains highly fragmented, with local players offering modular components like steel frames and panels. This fragmentation leads to diverse quality levels but fosters healthy competition.
• Key manufacturers include CIMC Modular Building Systems, Hangxiao Steel Structure, Ningbo Deepblue Smart House, and Guangdong Linghe Composite Material, among others.
• Recent industry developments include CIMC's modular student residence project in Hong Kong (Dec 2024), a partnership with China State Construction for modular steel structures (April 2023), and a sustainability-focused collaboration with Eternal Tsingshan Group (July 2023).
• Notable private-sector projects such as Mini Sky City (Changsha), Unicorn Island (Chengdu), and modular housing in Shenzhen exemplify the scalability and innovation in prefabricated construction.
• The adoption of digital tools such as Building Information Modeling (BIM) and Life Cycle Assessment (LCA) software is enhancing project efficiency, reducing full-cycle emissions, and aligning with China’s Dual Carbon Goals.
• The construction sector emitted over 430 million tonnes of carbon in 2022, prompting aggressive government action plans to promote energy-efficient building practices across residential and commercial developments.

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Public Safety and Security Market to Surpass USD 1.2 Trillion by 2032, Driven by AI and IoT Adoption

According to the latest market research study published by P&S Intelligence, the global public safety and security market reached USD 517.6 billion in 2024 and is projected to grow to USD 1,214.2 billion by 2032, reflecting a robust CAGR of 11.4% from 2025 to 2032. Growth is being driven by rapid adoption of AI and IoT technologies, which are advancing smart‑city initiatives and boosting surveillance and emergency response capabilities. Additionally, rising crime rates, catastrophic accidents, and increasing terrorism threats are compelling governments and enterprises to invest heavily in comprehensive security infrastructure. Regulatory support—including increased funding and policy reforms—combined with growing public demand for effective safety measures and enhanced global cooperation are also stimulating market expansion.

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Key Insights

• Solutions dominate the component landscape, holding approximately 60% market share in 2024, thanks to their widespread use in surveillance, alarming, and safety across urban, commercial, and infrastructure sectors.
• The services segment is the fastest‑growing, projected to expand at a 12% CAGR, as organizations outsource security needs to specialist providers for access to advanced tech, expert skills, and cost efficiencies.
• In application breakdown, homeland security accounted for around 45% of revenue in 2024, with significant government investment—such as the U.S. dedicating approximately USD 100 billion annually across federal, state, emergency, and law enforcement services.
• Critical infrastructure security is the fastest‑growing application vertical, with an anticipated 13.5% CAGR, driven by escalating interconnectivity and cybersecurity threats.
• From a deployment perspective, on‑premises solutions hold about 65% share in 2024, favored for greater control over sensitive data, lower latency, customization, and compliance—especially where privacy is paramount.
• Meanwhile, cloud‑based deployment is gaining ground with an expected 15% CAGR, offering scalability, real‑time monitoring, easier access to updates, and reduced reliance on extensive onsite infrastructure.
• Regionally, North America led the market in 2024 with roughly USD 210 billion in revenue, supported by a mature vendor landscape, stringent regulations, and high smartphone penetration.
• The Asia‑Pacific (APAC) region is forecast to grow at the highest CAGR of 13%, buoyed by strong adoption of surveillance systems, massive mobile internet user bases (e.g., China’s 1.04 billion internet users in 2022), and active smart‑city rollouts across India and other nations.
• In India, initiatives like Smart Cities Mission, Swachh Bharat Mission, and increased CCTV installations—especially in states like Telangana and Tamil Nadu, which together account for over 50% of the country's surveillance cameras—are significantly boosting demand.
• Competitive dynamics remain fragmented with global and regional players such as Cisco Systems, Honeywell, Motorola Solutions, IBM, NEC, Siemens, Thales, Huawei, Hexagon, L3Harris, Esri, and Axon Enterprise pursuing M&A and innovation strategies to strengthen market position.
• Innovation continues through partnerships and product launches: in mid‑2024, Cisco and Singapore’s HTX began trialing 5G‑and‑AI homeland security solutions; Cisco and Telenor expanded their collaboration to enhance cloud connectivity and cybersecurity in underserved regions; Axon launched new lightweight, customizable body cameras in January 2024 targeting retail and healthcare environments.

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Data Monetization Market Booms with 17.8% CAGR, Fueled by Industry 4.0 and AI Integration

According to the latest market research study published by P&S Intelligence, the global data monetization market is poised to soar from USD 4.4 billion in 2024 to an impressive USD 16.5 billion by 2032, registering a remarkable CAGR of 17.8% during the forecast period. This robust growth is primarily driven by the exponential increase in data generation and the significant drop in data storage costs, fueled by continuous technological progress. As industries embrace digital transformation, the demand for monetizing data has surged, particularly through advanced analytics and visualization tools that unlock strategic business value.

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In particular, the manufacturing sector is witnessing a surge in data monetization practices with the onset of Industry 4.0. Organizations are leveraging connected systems and real-time analytics to optimize operations and deliver personalized services. For example, Rolls-Royce has equipped its engines with sensors to facilitate real-time performance monitoring and enhance its aftersales support. Such innovative applications underscore the growing importance of data as a strategic asset across sectors.

Key Insights

• In terms of components, solutions dominate the market as enterprises increasingly rely on tailored data analytics software to drive business decisions. However, services are projected to grow faster, at a CAGR of 19.0%, due to the rising need for consulting, training, and ongoing support.
• By method, analytics-as-a-service is the leading and fastest-growing category, contributing 40% of the revenue in 2024. This reflects the demand for flexible, real-time analytics powered by business intelligence platforms.
• Embedded analytics ranks second, favored by developers for enhancing user satisfaction and competitive differentiation. This method is widely adopted in ERP and CRM systems for functions such as predictive analytics and machine learning.
• Insight-as-a-service is gaining traction due to the proliferation of big data and the need for customized, actionable insights. This method is popular among companies aiming to improve customer experience and operational efficiency.
• Among end users, the BFSI sector leads the market owing to massive daily data generation and evolving payment infrastructures. Telecom and IT follow closely, with monetization helping reduce customer churn.
• The e-commerce & retail industry is expected to witness the fastest growth, at a CAGR of 20.0%, driven by its heavy reliance on customer data for enhancing engagement, inventory alignment, and personalized marketing.
• Large enterprises hold a 70% market share, capitalizing on their vast networks and capacity for data utilization. SMEs, however, are anticipated to expand more rapidly, leveraging cloud-deployed AI-integrated tools for informed decision-making.
• Cloud deployment dominates and is also projected to grow at the highest CAGR of 20.0%, offering scalability, cost-efficiency, and accessibility. The increasing popularity of hybrid models and AI-enhanced cloud platforms further boosts this trend.
• Regionally, North America holds the largest share at 35% in 2024, led by the U.S. due to the presence of leading vendors and widespread adoption. Canada stands out with a projected CAGR of 18.5%.
• Asia-Pacific is the fastest-growing regional market, at a CAGR of 19.0%. China accounts for the largest share and fastest growth, driven by widespread digitization and the expansion of MSMEs. India also shows promise with progressive government data policies.
• Key players shaping the competitive landscape include Microsoft, Oracle, Salesforce, IBM, SAS Institute, Infosys, AWS, Google, Hewlett Packard Enterprise, Teradata, Accenture, and Cognizant. Many of these firms are expanding their offerings through AI and cloud partnerships.
• Recent developments include Oracle’s expansion of its Health Clinical Data Exchange, Salesforce integrating AI into e-commerce platforms, and IBM launching its Apptio suite on Azure. Microsoft also deepened its alliance with Palantir Technologies for enhanced defense analytics solutions.

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Retail & Tech Synergy Powers 10.1% CAGR in Multichannel Order Management Market

According to the latest market research study published by P&S Intelligence, the global multichannel order management market is poised for robust growth, expected to generate revenue of USD 3.2 billion in 2024 and surge to USD 6.8 billion by 2032, reflecting a compelling CAGR of 10.1% between 2025 and 2032. This growth trajectory is driven by the increasing need for streamlined order handling across multiple sales platforms. Multichannel order management (MOM) systems enable businesses to manage numerous orders simultaneously while enhancing order visibility, minimizing delays, and optimizing fulfillment efficiency.

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The shift toward automation, powered by the integration of artificial intelligence (AI) and machine learning (ML), is revolutionizing traditional order management approaches. These technologies reduce human intervention, streamline stock-demand balancing, and improve overall operational productivity. As companies strive to modernize their supply chains, MOM solutions provide a real-time, autonomous system capable of managing complex logistics and improving customer satisfaction.

Key Insights

• The software segment dominates the market with a projected 65% share in 2024, driven by the growing demand for advanced software-based tools that integrate ERP and CRM systems for seamless business operations.
• Services are forecast to grow at a faster CAGR of 9.5%, with businesses requiring training, integration support, and cybersecurity services to maximize software efficiency.
• Among applications, order fulfillment leads with a 45% market share in 2024 and the highest CAGR of 10%, owing to rising online order volumes and the adoption of automation technologies such as ASRSs and robotics.
• Large enterprises will contribute 70% of the revenue in 2024, as they require comprehensive solutions to manage vast, complex supply chains. Meanwhile, SMEs will register a higher CAGR of 10.5% due to the need for cost-effective, data-driven operations.
• The cloud deployment mode will account for 75% of the market in 2024 and grow at an 11% CAGR, as it supports integration with CRM, inventory systems, and e-commerce platforms while offering advanced analytics and scalability.
• The retail and consumer goods sector is the largest end user, expected to contribute 30% of the market in 2024, due to the continued rise of online shopping. The healthcare sector will expand the fastest, at a CAGR of 12%, driven by the digitalization of services such as telemedicine and online pharmacies.
• North America is projected to lead geographically with a 40% market share in 2024, fueled by widespread adoption of AI, ML, and digital technologies in supply chains. The Asia-Pacific region will exhibit the fastest growth, at 12.5% CAGR, with countries like China, India, and Japan embracing smart retail and digital transformation.
• Key players driving innovation include IBM Corporation, Oracle Corporation, SAP SE, Salesforce Inc., HCL Technologies, Zoho Corporation, Brightpearl, Block Inc., and Selro Ltd., among others. Market competition remains fragmented, encouraging continuous tech integration for competitive advantage.
• Recent strategic developments include OneRail’s acquisition of Orderbot in June 2024 to enhance last-mile delivery via integrated MOM tools, and Amazon’s January 2024 expansion of Buy with Prime for Salesforce retailers, reflecting the market’s pivot toward intelligent, customer-centric solutions.

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Identity and Access Management Market Thrives Amid Rising Digital Threats and Regulatory Mandates

According to the latest market research study published by P&S Intelligence, the global Identity and Access Management market was valued at USD 21.56 billion in 2024, and is expected to grow at a robust CAGR of 15.2% from 2025 to 2032, reaching USD 66.31 billion by the end of the period. This expansion is driven by surging cyber threats, an increasing shift to cloud computing, and widespread adoption of bring‑your‑own‑device (BYOD) environments that demand secure and seamless identity-first access controls.

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North America currently represents the largest regional market for IAM, thanks to its advanced tech infrastructure and rigorous regulatory mandates, while Asia‑Pacific (APAC) emerges as the fastest‑growing region due to rapid digitalization and elevated cybersecurity awareness across markets such as India and China. Among industry verticals, the banking, financial services, and insurance (BFSI) segment leads in IAM adoption, whereas healthcare is witnessing the fastest growth due to the urgent need to safeguard sensitive patient data and digitized health records.

Key Insights

• The IAM market is broken down by deployment types, with on‑premises, cloud‑based, and hybrid solutions catering to varied organizational needs. Cloud‑based platforms are gaining traction for their flexibility and cost efficiency, while on‑premises deployments remain vital for sectors demanding stringent control over infrastructure.
• The healthcare vertical, currently undergoing rapid digital transformation, is emerging as a leading growth area. IAM solutions are vital to secure electronic health records, comply with privacy regulations and support telemedicine infrastructures.
• On the regional front, North America dominates market share as of 2024, whereas APAC registers the highest CAGR—driven by increasing internet penetration, cloud usage, and heightened cybersecurity investments in major economies such as India and China.
• In terms of technological advancements, IAM is evolving with zero‑trust security models, multi‑factor authentication, and identity governance frameworks that enforce continuous verification and robust access policies across cloud and hybrid environments.
• The competitive landscape features major players such as SailPoint Technologies, Oracle, Microsoft, Broadcom, and ForgeRock, each advancing their footprint through innovations, enterprise deployments, and strategic expansions in identity governance and cloud IAM offerings.
• Segmentation by industry vertical indicates that BFSI remains the largest consumer of IAM solutions, while healthcare is rapidly scaling its investments due to increased security mandates and patient data protection requirements.
• As digital transformation accelerates, enterprises across sectors increasingly adopt IAM to manage identities across hybrid networks, enable seamless single sign-on (SSO), and enforce compliance policies in real time. This creates significant market opportunities for service providers and vendors offering scalable, AI‑driven identity controls.

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The Green Revolution: U.S. Bioplastic Market Explodes from $4.1B to $17.7B by 2032

The American bioplastic industry is experiencing unprecedented growth that signals a fundamental shift toward sustainable materials. With a market valuation of $4.1 billion in 2024, the U.S. bioplastic sector is poised for explosive expansion, projected to reach $17.7 billion by2032 while maintaining an extraordinary compound annual growth rate (CAGR) of 20.2% throughout 2025-2032. This remarkable trajectory represents more than a quadrupling of market size in just eight years, positioning bioplastics as one of the fastest-growing segments in the materials industry.

The Perfect Storm for Sustainable Materials

This exceptional growth rate reflects converging forces that are reshaping how America approaches packaging, manufacturing, and environmental responsibility. Consumer awareness of plastic pollution has reached a tipping point, with surveys consistently showing that over 70% of Americans actively seek environmentally friendly alternatives when making purchasing decisions. This consumer-driven demand is compelling manufacturers across industries to explore bioplastic solutions for packaging, disposable products, and durable goods.

Corporate sustainability commitments are accelerating adoption at an unprecedented pace. Major brands including Coca-Cola, Unilever, and McDonald's have announced ambitious targets to eliminate traditional plastics from their operations, creating massive demand for bioplastic alternatives. These corporate pledges translate directly into multi-billion-dollar procurement contracts that provide the revenue certainty necessary for bioplastic manufacturers to scale production and invest in innovation.

Regulatory Tailwinds Driving Market Expansion

Government policy at federal, state, and local levels is creating powerful incentives for bioplastic adoption. Single-use plastic bans in major cities like San Francisco, Seattle, and New York are forcing rapid market transitions that benefit bioplastic suppliers. California's comprehensive plastic reduction legislation sets precedents that other states are following, creating a cascading regulatory environment favorable to sustainable alternatives.

Federal tax incentives for renewable materials research and production are lowering barriers to entry for bioplastic manufacturers while encouraging existing chemical companies to diversify their product portfolios. The Infrastructure Investment and Jobs Act includes specific provisions supporting bio-based material development, providing crucial funding for scaling manufacturing capabilities.

Technology Breakthroughs Enabling Mass Adoption

Recent advances in biotechnology and materials science are dramatically improving bioplastic performance while reducing production costs. New fermentation processes using agricultural waste can produce bioplastic precursors at costs approaching traditional petroleum-based plastics. These technological improvements are eliminating the performance gaps that previously limited bioplastic applications to niche markets.

Third-generation bioplastics derived from algae and other non-food sources are addressing sustainability concerns about competing with food production for agricultural resources. These innovations expand the potential feedstock base while improving the environmental profile of bioplastic production, supporting long-term market growth sustainability.

Market Segmentation and Application Growth

Packaging applications continue to dominate bioplastic consumption, driven by food service, retail, and e-commerce demand for sustainable packaging solutions. However, emerging applications in automotive, electronics, and construction are creating new high-value market segments. Bioplastic automotive components offer weight reduction benefits while meeting sustainability targets, commanding premium pricing that supports market value growth.

The medical device sector represents another high-growth application area, where biocompatible and biodegradable properties provide unique advantages over traditional materials. As healthcare systems prioritize sustainability, medical bioplastics are capturing increasing market share in disposable devices, surgical instruments, and pharmaceutical packaging.

Investment and Infrastructure Development

Venture capital and private equity investment in bioplastic companies reached record levels in 2024, providing the capital necessary for rapid capacity expansion. Major chemical companies including BASF, DuPont, and Dow are establishing dedicated bioplastic divisions and investing billions in production facilities across the United States.

Geographic clustering around agricultural regions and ports is creating bioplastic manufacturing hubs that leverage feedstock availability and logistics advantages. The Midwest, Gulf Coast, and Pacific Northwest are emerging as centers of bioplastic production, supported by state-level incentives and existing chemical industry infrastructure.

Challenges and Market Realities

Despite impressive growth projections, the bioplastic industry faces significant challenges in achieving the $17.7 billion target. Scaling production while maintaining cost competitiveness requires continued technological advancement and operational excellence. Supply chain development for specialized feedstocks and processing equipment remains complex and capital-intensive.

Consumer education about proper disposal and composting of bioplastics is essential for maintaining environmental benefits and public support. Misleading marketing or inadequate waste management infrastructure could undermine consumer confidence and slow adoption rates.

The Path to $17.7 Billion

The 20.2% CAGR toward $17.7 billion by 2032 appears achievable given current market dynamics and investment trends. Success will depend on continued innovation, supportive policy environments, and sustained consumer demand for sustainable alternatives. The bioplastic revolution is transforming American manufacturing while positioning the United States as a global leader in sustainable materials technology.

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