Insights on the Freeze-Drying Equipment Global Market to 2026 - Impact Analysis of COVID-19
March 03, 2021 06:38 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The global freeze-drying equipment market grew at a CAGR of around 7% during 2015-2020. Freeze drying equipment is utilized to remove frozen solvents and bound water molecules from a material through sublimation and desorption processes. Unlike other dehydration equipment that uses higher temperatures, freeze drying equipment does not cause shrinkage or toughening of the material, which helps in keeping the product appearance and characteristics intact. Consequently, the equipment is employed in the food and beverage (F&B) industry to preserve and retain the flavor and smell of perishable products. It also finds substantial applications in the pharmaceutical industry to extend the shelf life of heat-sensitive and
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The global system integration market reached a value of US$ 303.2 Billion in 2020. System integration refers to the process of connecting the physical and digital IT infrastructure, including machine systems, inventory, databases, applications, protocols, formats and data use patterns, into a centralized network. It is installed using different methods, such as the horizontal, vertical, star and common data formats, with business process management, computer networking and manual programming. It maintains data integrity, reduces operational costs, increases workflow efficiency, enhances productivity, and improves business-to-business (B2B) communication. Consequently, it is widely employed in the healthcare, government, oil & gas, telecommunications and IT, and banking, financial services and insurance (BFSI) sectors.
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The global dairy processing equipment market reached a value of US$ 9.6 Billion in 2020. Dairy processing equipment performs various operations in modern dairy farms. Some of these operations include storing, filtering, pasteurizing and homogenizing raw milk. Dairy processing equipment can also conduct a wide range of dairy-related processes ranging from chilling raw milk, cream separation, and packaging to producing processed beverages, cultured products, concentrates and powders. In recent years, the demand for dairy processing equipment has increased, as it helps in reducing manual labor, lowering the processing time and improving the overall plant efficiency.
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The global electronic toll collection market reached a value of US$ 9.78 Billion in 2020. An electronic toll collection (ETC) system is an automated mechanism that utilizes sophisticated cameras and sensors to perform various functions at a toll booth. The ETC can capture images of the vehicle s registration plate and scan the transponders attached to vehicles to collect the correct toll automatically when the vehicle passes the toll booth. It utilizes various advanced solutions, such as video analytics, Dedicated Short-Range Communications (DSRC), Global Positioning System (GPS) and Global Navigation Satellite System (GNSS) for toll collection and vehicle tracking. This saves travel time of the travellers, offers cashless facility, minimizes congestion at the toll booths and quickens toll transactions.