North America was at the forefront of the market in 2017, holding the biggest share of about 31.83%, which accounted for a market value of approximately USD 129.8 million. Experts foresee a consistent growth trajectory for North America, with an estimated yearly increase of around 6.74% throughout the forecast period.
Europe was the second-largest market player in 2017, boasting a market share valued at USD 95.7 million. While Europe's presence was significant then, the anticipated growth rate for the region is slightly lower, projected at around 6.64% for the forecast period.
However, the Asia-Pacific region emerges as the beacon of substantial growth potential, slated to experience the highest forecasted Compound Annual Growth Rate (CAGR) of 7.14%. Despite a smaller initial market share, the expected rapid expansion indicates the Asia-Pacific region's increasing importance and market influence.
North America led the charge in 2017, capturing the biggest portion of the market pie, clocking in at nearly 32% and raking in a significant USD 129.8 million. The experts predict that this region will continue its upward trajectory, growing steadily at an annual rate of approximately 6.74%.
Europe was a strong contender, securing the second spot in 2017 with a market value of USD 95.7 million. However, although their foothold was considerable then, their anticipated growth rate is expected to be marginally slower at 6.64%. On the flip side, Asia-Pacific is gearing up for an impressive surge with an expected growth rate of 7.14%. This projected growth signifies a remarkable leap forward compared to other regions.
In 2017, North America held the lion's share of the market at nearly 32%, amounting to a substantial USD 129.8 million. Now, experts predict that this region will continue its upward trend, growing at a steady pace of about 6.74% annually.
Europe, on the other hand, secured the second position in 2017 with a market value of USD 95.7 million. While their presence was notable then, their growth rate for the forecasted period is estimated to be slightly lower at 6.64%. However, the Asia-Pacific market is set to experience an impressive growth rate of 7.14%, signaling significant potential for expansion.
North America was the market leader in 2017, securing a significant share of almost 32%, with a value of about USD 129.8 million. Analysts predict a steady growth pattern for this region, expecting it to increase by approximately 6.74% each year.
