Uncategorized
Writing instruments market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio
Writing instruments market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio
PR Newswire
NEW YORK, Jan. 30, 2023
NEW YORK, Jan. 30, 2023 /PRNewswire/ — According to Technavio, the global writing i…
Share this:
Writing instruments market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio
PR Newswire
NEW YORK, Jan. 30, 2023
NEW YORK, Jan. 30, 2023 /PRNewswire/ -- According to Technavio, the global writing instruments market size is estimated to grow by USD 9,424.32 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.4% during the forecast period. Moreover, the growth momentum will accelerate. Request a sample report
Global writing instruments market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!
Global writing instruments market – Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global writing instruments market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on applications (Students, Working professionals, and Institutions), and distribution channels (Offline and Online).
- The students segment will account for a significant share of the global market during the forecast period. Various companies are employing novel strategies to expand the application scope among students. This increase can be attributed to a greater awareness of the importance of education among the global population. Government initiatives and policies encouraging more students, particularly women, to pursue education in underdeveloped or developing economies such as India, China, and Brazil are expected to boost segment growth. These factors are expected to broaden the scope of writing instruments during the forecast period.
Geography Overview
By geography, the global writing instruments market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global writing instruments market.
- APAC is estimated to account for 57% of the growth of the global market during the forecast period. The writing instrument market in APAC is growing rapidly. Innovations in product design and features have a sizeable effect on the growth of the market. High growth in developing countries, such as India and China, has made it lucrative. Many international vendors are entering the regional market along with the increase in disposable incomes due to the high demand for writing instruments. To maintain quality standards in their product lines, vendors in this region invest heavily in the design of writing instruments, such as luxury pens.
Global writing instruments market – Market Dynamics
Key factor driving market growth
- The emerging online sales of writing instruments are notably driving market growth.
- The availability of personalized shopping assistance and suggestions on writing instruments are the two primary advantages that encourage people to shop for these products online.
- Moreover, e-commerce vendors allow customers to compare various models of writing instruments available on their websites, which helps customers choose the best option as per their needs and preferences.
- The online distribution channel allows vendors to offer considerable discounts directly to customers, as this channel eliminates the costs associated with the operation of brick-and-mortar stores, the employment of sales personnel, and the physical merchandising of writing instruments. Therefore, online sales are expected to drive the growth of the global writing and marking instrument market during the forecast period.
Leading trends influencing the market
- The increasing demand for customization and personalization of writing instruments will have a positive impact on the growth of the market during the forecast period.
- Business enterprises also use personalized writing instruments, especially pens, as promotional tools, such as gifts to their business partners and employees.
- This helps them increase their brand presence. Companies also make use of these pens for trade show giveaways, corporate events, seminars, and conferences. These factors influence the growth of the market positively. The demand for personalized pens that have the name of the owner inscribed on them is also growing.
- Vendors also offer pens that can be personalized with their desired logo, name, or text. Advances in printing technologies, developments in software, and an increase in demand from customers are creating new avenues for the customization of products.
- Many vendors are offering custom engraving on their luxury pens, which are primarily meant for gifting options. These factors will drive the growth of the global writing and marking instrument market during the forecast period.
Major challenges hindering market growth
- The availability of alternative products is the major challenge impeding the market growth.
- As the adoption rate of digital media in emerging markets is expected to increase over the forecast period, the writing and marking instruments market will experience slow growth.
- This is because electronic devices have replaced preparing shopping lists, reminders, and calendar entries. This growth in digitization, ensuing due to awareness about the benefits of digitalization and easy access to information, will serve as a stalemate to the growth of the global writing instrument market.
- The high adoption of electronic devices in emerging markets is due to the increase in the availability of low-cost smartphones, improved broadband infrastructure, and growth in smartphone shipments. Owing to the increase in the penetration of mobile and electronic devices, the adoption rate of tablets, smartphones, and laptops has increased.
- Hence, to sustain in the market, vendors in the global writing instrument market should promote and market their products aggressively. Therefore, this can be a potential challenge that is expected to hamper the growth of the global writing and marking instruments market.
What are the key data covered in this writing instruments market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the writing instruments market between 2023 and 2027
- Precise estimation of the size of the writing instruments market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the writing instruments market across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of writing instruments market vendors
Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Related Reports:
The coding and marking equipment market size is expected to increase to USD 1,352.38 million from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 6.78%. This report extensively covers market segmentation by product (CIJ printing and coding, laser coding and marking, TIJ printing, DOD printing, and others), end-user (food and beverage, healthcare, industrial, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The size of the electronic musical instruments market is expected to increase by USD 505.09 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.09%. This report extensively covers market segmentation by end-user (electric pianos and keyboards, string instruments, drums and percussion instruments, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Writing Instruments Market Scope | |
Report Coverage | Details |
Page number | 159 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 6.4% |
Market growth 2023-2027 | USD 9,424.32 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 5.4 |
Regional analysis | APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution | APAC at 57% |
Key countries | US, China, Japan, India, and Germany |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Bic, Caran d Ache, Claro, Crayola, Faber Castell Aktiengesellschaft, Flair Pens, Hindustan Pencils Pvt. Ltd., Koh i noor Hardtmuth AS, Kokuyo Camlin Ltd, Linc Pen & Plastics Ltd., Luxor, Mitsubishi Pencil Co. Ltd, Montblanc, Newell Brands Inc., Pelikan International Corp. Berhad, PENTEL STATIONERY (INDIA) PVT. LTD., PILOT Corp, Schwanhausser Industrie Holding GmbH and Co. KG, Shanghai M and G Stationery Inc., and Staedtler Mars GmbH and Co. KG |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global writing instruments market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global writing instruments market 2017 - 2021 ($ million)
- 4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.3 Distribution Channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Students - Market size and forecast 2022-2027
- Exhibit 34: Chart on Students - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Students - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Students - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Students - Year-over-year growth 2022-2027 (%)
- 6.4 Working professionals - Market size and forecast 2022-2027
- Exhibit 38: Chart on Working professionals - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Working professionals - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Working professionals - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Working professionals - Year-over-year growth 2022-2027 (%)
- 6.5 Institutions - Market size and forecast 2022-2027
- Exhibit 42: Chart on Institutions - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Institutions - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Institutions - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Institutions - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by Application
- Exhibit 46: Market opportunity by Application ($ million)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 49: Chart on Comparison by Distribution Channel
- Exhibit 50: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 59: Market opportunity by Distribution Channel ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 61: Chart on Market share by geography 2022-2027 (%)
- Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 63: Chart on Geographic comparison
- Exhibit 64: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 North America - Market size and forecast 2022-2027
- Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 China - Market size and forecast 2022-2027
- Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.9 US - Market size and forecast 2022-2027
- Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 Germany - Market size and forecast 2022-2027
- Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.12 India - Market size and forecast 2022-2027
- Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 105: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 106: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 108: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 109: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 110: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 111: Matrix on vendor position and classification
- 12.3 Bic
- Exhibit 112: Bic - Overview
- Exhibit 113: Bic - Business segments
- Exhibit 114: Bic - Key offerings
- Exhibit 115: Bic - Segment focus
- 12.4 Crayola
- Exhibit 116: Crayola - Overview
- Exhibit 117: Crayola - Product / Service
- Exhibit 118: Crayola - Key offerings
- 12.5 Faber Castell Aktiengesellschaft
- Exhibit 119: Faber Castell Aktiengesellschaft - Overview
- Exhibit 120: Faber Castell Aktiengesellschaft - Product / Service
- Exhibit 121: Faber Castell Aktiengesellschaft - Key offerings
- 12.6 Flair Pens
- Exhibit 122: Flair Pens - Overview
- Exhibit 123: Flair Pens - Product / Service
- Exhibit 124: Flair Pens - Key offerings
- 12.7 Hindustan Pencils Pvt. Ltd.
- Exhibit 125: Hindustan Pencils Pvt. Ltd. - Overview
- Exhibit 126: Hindustan Pencils Pvt. Ltd. - Product / Service
- Exhibit 127: Hindustan Pencils Pvt. Ltd. - Key offerings
- 12.8 Koh i noor Hardtmuth AS
- Exhibit 128: Koh i noor Hardtmuth AS - Overview
- Exhibit 129: Koh i noor Hardtmuth AS - Product / Service
- Exhibit 130: Koh i noor Hardtmuth AS - Key offerings
- 12.9 Kokuyo Camlin Ltd
- Exhibit 131: Kokuyo Camlin Ltd - Overview
- Exhibit 132: Kokuyo Camlin Ltd - Product / Service
- Exhibit 133: Kokuyo Camlin Ltd - Key offerings
- 12.10 Linc Pen Plastics Ltd.
- Exhibit 134: Linc Pen Plastics Ltd. - Overview
- Exhibit 135: Linc Pen Plastics Ltd. - Business segments
- Exhibit 136: Linc Pen Plastics Ltd. - Key offerings
- Exhibit 137: Linc Pen Plastics Ltd. - Segment focus
- 12.11 Luxor
- Exhibit 138: Luxor - Overview
- Exhibit 139: Luxor - Product / Service
- Exhibit 140: Luxor - Key offerings
- 12.12 Mitsubishi Pencil Co. Ltd
- Exhibit 141: Mitsubishi Pencil Co. Ltd - Overview
- Exhibit 142: Mitsubishi Pencil Co. Ltd - Business segments
- Exhibit 143: Mitsubishi Pencil Co. Ltd - Key offerings
- Exhibit 144: Mitsubishi Pencil Co. Ltd - Segment focus
- 12.13 Montblanc
- Exhibit 145: Montblanc - Overview
- Exhibit 146: Montblanc - Product / Service
- Exhibit 147: Montblanc - Key offerings
- 12.14 Newell Brands Inc.
- Exhibit 148: Newell Brands Inc. - Overview
- Exhibit 149: Newell Brands Inc. - Business segments
- Exhibit 150: Newell Brands Inc. - Key news
- Exhibit 151: Newell Brands Inc. - Key offerings
- Exhibit 152: Newell Brands Inc. - Segment focus
- 12.15 PENTEL STATIONERY (INDIA) PVT. LTD.
- Exhibit 153: PENTEL STATIONERY (INDIA) PVT. LTD. - Overview
- Exhibit 154: PENTEL STATIONERY (INDIA) PVT. LTD. - Product / Service
- Exhibit 155: PENTEL STATIONERY (INDIA) PVT. LTD. - Key offerings
- 12.16 PILOT Corp
- Exhibit 156: PILOT Corp - Overview
- Exhibit 157: PILOT Corp - Product / Service
- Exhibit 158: PILOT Corp - Key offerings
- 12.17 Shanghai M and G Stationery Inc.
- Exhibit 159: Shanghai M and G Stationery Inc. - Overview
- Exhibit 160: Shanghai M and G Stationery Inc. - Product / Service
- Exhibit 161: Shanghai M and G Stationery Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 162: Inclusions checklist
- Exhibit 163: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 164: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 165: Research methodology
- Exhibit 166: Validation techniques employed for market sizing
- Exhibit 167: Information sources
- 13.5 List of abbreviations
- Exhibit 168: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/writing-instruments-market-2023-2027-a-descriptive-analysis-of-five-forces-model-market-dynamics-and-segmentation--technavio-301732254.html
SOURCE Technavio
Uncategorized
Infosys Recognized as the Top Service Provider Across Nordics in the Whitelane Research and PA Consulting IT Sourcing Study 2023
Infosys Recognized as the Top Service Provider Across Nordics in the Whitelane Research and PA Consulting IT Sourcing Study 2023
PR Newswire
STOCKHOLM, March 31, 2023
Infosys achieves a notable rise in overall ranking in the Nordics with a customer…
Share this:
Infosys Recognized as the Top Service Provider Across Nordics in the Whitelane Research and PA Consulting IT Sourcing Study 2023
PR Newswire
STOCKHOLM, March 31, 2023
Infosys achieves a notable rise in overall ranking in the Nordics with a customer satisfaction score of 81 percent as compared to the industry average of 73 percent
STOCKHOLM, March 31, 2023 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has been recognized as one of the top service providers in the Nordics, achieving the highest awarded score in Whitelane Research and PA Consulting's 2023 IT Sourcing Study. The report ranked Infosys as the number one service provider and an 'Exceptional Performer' in the categories of Digital Transformation, Application Services, and Cloud & Infrastructure Hosting Services. Infosys also ranked number one in overall General Satisfaction and Service Delivery.
For the report, Whitelane Research and PA Consulting, the innovation and transformation consultancy, surveyed nearly 400 CXOs and key decision-makers from top IT spending organizations in the Nordics and evaluated over 750 unique IT sourcing relationships and more than 1,400 cloud sourcing relationships. These service providers were assessed based on their service delivery, client relationships, commercial leverage, and transformation capabilities.
Some of Infosys' key differentiating factors highlighted in the report are:
- Infosys ranked as a top provider in the Nordics across key performance indicators on service delivery quality, account management quality, price level and transformative innovation.
- Infosys' ranked above the industry average by 8 percent year-on-year, making it one of the top system integrators in the Nordics.
- Infosys is positioned as a "Strong Performer" in Security Services and scored significantly above average on account management.
Arne Erik Berntzen, Group CIO of Posten Norge, said: "Infosys has been integral in helping Posten Norge transform its IT Service Management capabilities. As Posten's partner since 2021, Infosys picked up the IT Service Management function from the incumbent, successfully transforming it through a brand-new implementation of ServiceNow, redesigning IT service management to suit the next-generation development processes and resulting in a significant improvement of the overall customer experience. I congratulate Infosys for achieving the top ranking in the 2023 Nordic IT Sourcing Study."
Antti Koskelin, SVP & CIO at KONE, said: "Infosys has been our trusted partner in our digitalization journey since 2017 and have helped us in establishing best-in-class services blueprint and rolling-in our enterprise IT landscape over the last few years. Digital transformations need partners to constantly learn, give ideas that work and be flexible to share risks and rewards with us, and Infosys has done just that. I am delighted that Infosys has been positioned No. 1 in Whitelane's 2023 Nordic Survey. This is definitely a reflection of their capabilities."
Jef Loos, Head of Research Europe, Whitelane Research, said, "In today's dynamic IT market, client demand is ever evolving, and staying ahead of the curve requires a strategic blend of optimized offerings and trusted client relationships. Infosys' impressive ranking in Whitelane's Nordic IT Sourcing Study is a testament to their unwavering commitment to fulfilling client demands effectively. Through their innovative solutions and exceptional customer service, Infosys has established itself as a leader in the industry, paving the way for a brighter and more successful future for all."
Hemant Lamba, Executive Vice President & Global Head – Strategic Sales, Infosys said, "Our ranking as one of the top service providers across the Nordics in the Whitelane Research and PA Consulting 2023 IT Sourcing Study, endorses our commitment to this important market. This is a significant milestone in our regional strategy, and the recognition revalidates our commitment towards driving customer success and excellence in delivering innovative IT services. Through our geographical presence in the Nordics, we will continue to drive business innovation and IT transformation in the region, backed by a strong partner network. We look forward to continuing investing in this market to foster client confidence and further enhance delivery."
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, in more than 50 countries, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India and the US, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2022. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/infosys-recognized-as-the-top-service-provider-across-nordics-in-the-whitelane-research-and-pa-consulting-it-sourcing-study-2023-301786887.html
SOURCE Infosys
Uncategorized
mRNA-LNP Vaccine Development: Evaluation of Novel Ionizable Lipids
In this GEN webinar, our distinguished speaker Dr. Nicholas Valiante, will provide insights into designing, developing, and manufacturing mRNA vaccines…
Share this:
Broadcast Date: April 12, 2023
Time: 8:00 am PT, 11:00 am ET, 16:00 CET
The success of the mRNA-LNP COVID-19 vaccines have clinically proven the modality of lipid-based nanoparticle delivery, demonstrating the possibilities for rapid design, development, and manufacturing of other promising genomic medicines.
Due to their modular nature, LNP excipients can be mixed, matched, and modified during formulation to improve immune responses. Similarly, the encapsulated mRNA can be optimized to improve translation efficiency and stability.
In this GEN webinar, our distinguished speaker Dr. Nicholas Valiante, will provide insights into designing, developing, and manufacturing mRNA vaccines to maximize performance. Dr. Valiante will expand on the process to evaluate and select ionizable lipids required for mRNA-LNP vaccines development.
A live Q&A session will follow the presentation, offering you a chance to pose questions to our expert panelist.
Chief Scientific Officer, President
Innovac Therapeutics
Produced with support from:
The post mRNA-LNP Vaccine Development: Evaluation of Novel Ionizable Lipids appeared first on GEN - Genetic Engineering and Biotechnology News.
vaccine genetic covid-19Uncategorized
What Has Driven the Labor Force Participation Gap since February 2020?
The U.S. labor force participation rate (LFPR) currently stands at 62.5 percent, 0.8 percentage point below its level in February 2020. This “participation…
Share this:
The U.S. labor force participation rate (LFPR) currently stands at 62.5 percent, 0.8 percentage point below its level in February 2020. This “participation gap” translates into 2.1 million workers out of the labor force. In this post, we evaluate three potential drivers of the gap: First, population aging from the baby boomers reaching retirement age puts downward pressure on participation. Second, the share of individuals of retirement age that are actually retired has risen since the onset of the COVID-19 pandemic. Finally, long COVID and disability more generally may induce more people to leave the labor force. We find that nearly all of the participation gap can be explained by population aging, which caused a significant rise in the number of retirements. Higher retirement rates compared to pre-COVID have had only a modest effect, while disability has virtually no effect.
The LFPR is defined as the ratio between workers in the labor force (either employed or unemployed) and the civilian, non-institutional population age 16 and older. As the chart below shows, the LFPR has been gradually declining since the early 2000s. It stayed relatively flat over the period 2014-19 and even slightly rose up to February 2020 as the strong labor market exerted a positive effect on labor supply. After a dramatic decline in the early months of the pandemic, participation has recovered gradually but remains significantly below its pre-COVID level—by 0.8 percentage point or 2.1 million workers as of February 2023. We examine potential drivers of the participation gap using the Current Population Survey (CPS), a monthly survey of about 60,000 households that is conducted by the Bureau of Labor Statistics (BLS).
The Labor Force Participation Rate (LFPR) Remains below its Pre-Pandemic Level
Notes: The chart shows the seasonally adjusted LFPR for the population aged 16+ years. The red dashed line illustrates the size of the shortfall between 2020:m2 and 2023:m2.
Population Aging
We first analyze population aging. As noted elsewhere, the panel chart below illustrates that as the baby boomer cohort has reached the retirement threshold, retirements have increased dramatically. The left panel shows the distribution of the U.S. population in 2009. Each gray bar shows the number of individuals of a given age in the U.S. population from U.S. Census data. The blue bars show the number of workers in that age group who are retired. We indicate the baby boomer cohort, that is, those workers born between 1946 and 1964, by the gray shaded area, and mark the retirement age of 65 years by the vertical red line. The left panel shows that in 2009 the baby boomers were just beginning to enter retirement.
Baby Boomer Retirements Have Increased Dramatically over Time
Notes: The gray bars show the U.S. population of a given age. The blue bars show the estimated number of retirees at each age, computed from the share of retired workers at each age from the CPS. The red vertical line indicates the normal retirement age of 65 years. The gray shaded area indicates the ages corresponding to the baby boomer cohort, that is, those individuals born between 1946 and 1964.
The right panel of the chart shows the same distribution in 2022. By 2022, a large share of the baby boomer generation had entered retirement, leading to a significant increase in the number of individuals retired, as indicated by the blue bars.
Retirements within Specific Age Groups Have Increased Compared to Pre-Pandemic Levels
We next examine retirements within age groups in more detail. The previous chart suggests that retirement shares by age group have risen only modestly, as shown by the height of the blue bars relative to the gray bars. To substantiate this point, we break the population into groups of individuals aged 60-69, 70-79, and over 79. We focus on individuals aged 60 and older since these account for more than 90 percent of all retirees in the United States. For those aged 60-69, the retirement share has risen from an average of 39.7 percent in 2018-19 to 40.0 percent over the second half of 2022. The retirement share for those aged 70-79 has increased from 77.5 percent in 2018-19 to 78.8 percent in the more recent period. Finally, among those over 79, the retirement share has gone up from 88.5 percent to 90.5 percent. Here we consider the average over 2018-19 as our pre-pandemic reference point to remove shorter-term movements in the retirement shares.
How does this change in retirement behavior affect overall retirements? The share of retired workers in the U.S. population has risen substantially, from an average of 18 percent in 2018-19 to nearly 20 percent at the end of 2022. However, once we control for the overall aging of the population, the changes in the age-specific retirement shares reported above imply an increase in the overall share of retirees in the population of only about 0.3 percentage point.
Share of Workers with Disability and Not in the Labor Force Has Actually Fallen
We finally analyze the effect of disability on the participation gap. To capture a broad notion of disability, we focus on a set of six questions in the CPS that ask respondents whether because of a physical, mental, or emotional condition they have serious difficulty concentrating, remembering, or making decisions.
We start by considering the number of disabled individuals in the labor force as a share of the total population. The share of workers with disability (based on the above definition) rose from an average of 2.5 percent of the population in 2018-19 to about 2.9 percent in the last six months of 2022. While the rise in disability among workers in the labor force may have implications for the intensity of work effort, a recent study has found relatively little change in average hours worked by workers with disability. Therefore, there may be relatively little effect on the LFPR since these workers are still in the labor force. For this reason, we focus on the share of disabled individuals not in the labor force. This share has risen slightly, from about 9.2 percent in 2018-19 to 9.4 percent in the second half of 2022. Once we adjust for aging, we find that the share of disabled individuals not in the labor force has, in fact, marginally declined. This result arises because disability shares have slightly fallen for the older age groups.
Impact on Labor Force Participation
How have the three channels affected labor force participation? We first analyze the impact of population aging in isolation by constructing a counterfactual LFPR that keeps constant the share of the population in each age group at February 2020 levels. The gold line in the chart below shows this age-adjusted participation rate. Removing the effect of aging can explain the entire participation gap, lifting LFPR by 0.9 percentage point in February 2023. This big effect arises because the large baby boomer cohort is right at the retirement cutoff. As the chart above shows, the retirement share rises dramatically with age around the age of 65. Consequently, the aging of the baby boomers between 2020 and 2022 led to a significant rise in retirements, reducing participation.
Second, we analyze the effect of excess retirements on participation, in addition to the effect of aging. To do so, we analyze how the overall age-adjusted retirement share would change if we went back to the retirement shares in each age group of 2018-19. In other words, we ask what LFPR would prevail if retirement behavior went back to pre-COVID levels, controlling for aging. Since about half of new retirees in 2020-22 were already out of the labor force prior to retirement (for example, a stay-at-home partner who transitions into retirement), we multiply the effect of excess retirement by one half. The red line in the chart below shows that additionally removing excess retirements increases LFPR by a further 0.2 percentage point in February 2023. This effect is smaller than in a recent study that finds a 0.6 percentage point effect. The difference arises mainly because we assume that only half of all excess retirees could return to the labor force, since the rest were already out of the labor force prior to retirement.
Finally, the increase in disability has virtually no effect on the participation gap because, as discussed above, the increase is entirely accounted for by individuals that remain in the labor force. We do not separately plot this effect on the chart below. Overall, our results imply that undoing the effects of population aging and excess retirements would raise the LFPR by 1.1 percentage point from 62.5 percent to 63.6 percent, more than making up for the participation gap.
Participation Rate Is Higher after Adjusting for Aging and Excess Retirements
Notes: The blue line shows the headline labor force participation rate (LFPR) reported by the Bureau of Labor Statistics. The gold line is the counterfactual LFPR holding fixed the population age structure in February 2020. The red line further adds the surplus of retired workers in the recent period compared to 2018-19, at the fixed age structure of February 2020.
Conclusion
In this blog post we show that demographic trends, specifically population aging, exert a powerful influence on labor force participation. In other words, the participation gap largely disappears once we control for population aging, indicating that participation has recovered a great deal since the large shock induced by the pandemic. Other possible contributing factors, such as elevated retirement rates or disability, play only a minor role in explaining the participation gap. Population aging is likely to continue to exert strong downward pressure on participation going forward, as more of the baby boomer generation continue to enter retirement.
Mary Amiti is the head of Labor and Product Market Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.
Sebastian Heise is a research economist in Labor and Product Market Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.
Giorgio Topa is an economic research advisor in Labor and Product Market Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.
Julia Wu is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.
How to cite this post:
Mary Amiti, Sebastian Heise, Giorgio Topa, and Julia Wu, “What Has Driven the Labor Force Participation Gap since February 2020?,” Federal Reserve Bank of New York Liberty Street Economics, March 30, 2023, https://libertystreeteconomics.newyorkfed.org/2023/03/what-has-driven-the-labor-force-participation-gap-since-february-2020/.
Disclaimer
The views expressed in this post are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author(s).
Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price
Where’s the Money Going? Watch Volume and Price Action
Infosys Recognized as the Top Service Provider Across Nordics in the Whitelane Research and PA Consulting IT Sourcing Study 2023
The Trouble with Bank Tribbles
What Has Driven the Labor Force Participation Gap since February 2020?
Bio-detection market size to grow by USD 12,270.05 million between 2022 and 2027; Increasing applications of microorganisms identified as a key trend – Technavio
mRNA-LNP Vaccine Development: Evaluation of Novel Ionizable Lipids
Philly Fed: State Coincident Indexes Increased in all 50 States in January (3-Month Basis)
BofA Data Finds the Surge in Housing Costs Varies by Metropolitan Area, with the Sun Belt Significantly Outpacing the West and Northeast
Solar energy market in South Africa to grow at a CAGR of 29.74% from 2021 to 2026: Sunny climatic conditions to drive growth – Technavio
-
Government18 hours agoWaymo retires its self-driving Chrysler Pacifica minivan
-
Uncategorized19 hours ago
Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price
-
International18 hours agoGO Ahead: Make My Day!
-
Spread & Containment18 hours agoAsking the right dumb questions
-
Uncategorized18 hours ago
Where’s the Money Going? Watch Volume and Price Action
-
Uncategorized15 hours ago
Infosys Recognized as the Top Service Provider Across Nordics in the Whitelane Research and PA Consulting IT Sourcing Study 2023
-
Government18 hours agoFDA approval of over-the-counter Narcan is an important step in the effort to combat the US opioid crisis
-
Government18 hours agoWHO Now Says COVID Vaccines Not Recommended For Healthy Kids & Teens