Graph and download economic data for 30-Day Average SOFR (SOFR30DAYAVG) from 2018-05-02 to 2025-07-11 about 1-month, financing, overnight, average, securities, and USA.

According to Cognitive Market Research, The Global Shawarma Machine Market size is USD 0.512 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.50% from 2023 to 2030.

The global Shawarma Machines market is being propelled by growing consumer health consciousness and a rapidly expanding food industry. 
Demand for electric shawarma machines remains higher in the Shawarma Machine Market by type.
The commercial segment held the highest application of Shawarma Machine Market share in 2023.
In 2023, North America is a region known for its cultural diversity and openness to international cuisines. Shawarma, with its Middle Eastern origins, has gained popularity as a flavorful and convenient street food option, appealing to a wide range of consumers.

Changing Consumer Behaviour and Increased Food Spending to Support Growth

In most locations, increased family income and the formation of families with two or more members are the primary reasons motivating consumers to dine out more. Furthermore, the rapid proliferation of a variety of food service outlets is gaining popularity in established and developing countries throughout the world despite the popularity of well-known brands such as Domino's, Pizza Hut, McDonald's, KFC, and Burger King. With fast food increasing appeal among younger people, worldwide fast food businesses are looking to expand into new areas.

For instance, in June 2022, according to a poll performed on behalf of Alpha Foods by The Harris Poll, almost 90% of Americans are concerned about food prices. In two waves, from March 18 to 23 and again from May 6 to 8, more than 2,000 American people were polled online about their inflation fears and buying patterns.

(Source:www.cnbc.com/2022/06/09/consumers-changing-eating-shopping-habits-as-inflation-pushes-up-price.html)

Increasing Number of Quick Service Restaurants in Both Developing and Developed Countries

Convenience is a crucial aspect driving this business since it allows for speedy delivery of meals, which primarily appeals to younger customers. Consumer preferences for ready-to-eat meals and quick food products have altered worldwide market dynamics. Fast food needs less time and effort, which contributes to the growing demand for these items. Consumers' increasing disposable income is another aspect that will help the industry thrive in the next years.

According to the USDA, the number of quick-service restaurants in the United States increased by about 20% over the previous decade, from approximately 285,000 in 2000 to over 340,000 in 2015. Many metropolitan counties, particularly in the Mid-Atlantic, Southeast, and increasingly urbanizing Western regions, had quick-service restaurant growth of more than 30% between 2000 and 2015, well above the national average of 20%.

(Source:www.ers.usda.gov/amber-waves/2018/november/growth-in-quick-service-restaurants-outpaced-full-service-restaurants-in-most-us-counties/)

Increasing consumer demand for ethnic cuisine from different countries is boosting market demand

Key Dynamics of

Shawarma Machine Market

Key Drivers of

Shawarma Machine Market

The Increasing Popularity of Middle Eastern and Street Food Cuisine: The worldwide surge in the appetite for quick, tasty ethnic foods—especially Mediterranean and Middle Eastern offerings—is driving the growth of shawarma establishments. Restaurants, food trucks, and quick service restaurant (QSR) chains are investing in shawarma machines to satisfy the increasing consumer appetite for grilled, high-protein, and swiftly prepared meat dishes.

Growth of the Quick Service Restaurant (QSR) Sector: As more QSR brands present varied menus and international street food options, the adoption of shawarma machines is on the rise. These machines facilitate efficient bulk meat preparation and ensure consistent quality, making them well-suited for high-volume service settings where speed, cleanliness, and standardization are essential.

Cost-Effective and User-Friendly Cooking Equipment: Shawarma machines are generally low-maintenance, energy-efficient, and straightforward to operate, making them appealing to small business proprietors and emerging food ventures. Their ease of use and minimal skill requirements help lower labor expenses, enabling entrepreneurs to offer popular grilled meats witho...

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Market Summary of Commercial Refrigeration Market:

• According to Cognitive Market Research, the Commercial Refrigeration Market size will be XX million in 2023 and will expand at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. • The market for commercial refrigeration is growing as a result of consumers' growing preferences for chilled and frozen foods and an increase in Technological Advancements in Commercial Refrigeration. • Commercial Refrigerators, because of their size and features, are typically more expensive upfront. It represents a substantial financial investment for companies. Hence, the High Cost of Commercial Refrigeration hampers the market growth. • Chest refrigeration is dominating because chest refrigerators are widely used in a variety of industries and are recognized for their energy efficiency and large capacity, which makes them perfect for storing bulky items or large quantities of products. • North America holds a dominant position in the market, mainly due to the sizeable food and beverage sector and the requirement for cold storage and transportation of products that are sensitive to temperature

Market Dynamics of Commercial Refrigeration Market

Key Drivers of Commercial Refrigeration Market

The market for commercial refrigeration is growing as a result of consumers growing preferences for chilled and frozen foods.

There is an increase in demand for frozen and chilled foods. This business is utilizing new technology, like high-pressure processing and self-heating packaging for frozen food, and canned ready-to-eat foods with defrosting and self-healing capabilities are about to boom the market. Different developments in people's eating habits have been brought by the expanding middle class, the nuclear family structure, and the presence of working women in the home. In addition to eating out, frozen food and ready-to-cook items are becoming more and more popular among customers.The emergence of cloud kitchens and quick service restaurants (QSRs) has increased demand for frozen dishes with convenient and consistent flavor. Many thousands of businesses are required to provide frozen and fresh goods including dairy, meats, ice cream, and fruits in small quantities due to the growth of e-commerce and dark stores. For the storage of the items mentioned above, refrigeration is required which drives the market expansion. freezers and chillers have limited room, therefore frozen and chilled goods need to be changed out frequently. Smaller refrigerated rooms are needed in urban and dark businesses as fast supermarket delivery becomes the new norm. For Instance, “More frozen goods are being purchased by consumers. More storage capacity and an efficient supply chain will be needed” The Food Institute's managing partner and CEO, Brian Choi, stated to CNBC. Further, The American Frozen Food Institute estimates that frozen food sales in the United States will reach over $72 billion in 2022. Hence, it drives the market growth. (Source: https://www.cnbc.com/2023/07/18/frozen-food-grocery-sales-vs-critical-cold-storage-supply-chains-.html)In the food sector, commercial refrigerators are a necessary piece of equipment. They keep food items fresh and safe for ingestion by preserving and storing them at appropriate temperatures. A commercial refrigerator is an essential purchase for any business, big or small, to maintain the quality of food offerings. So, companies are offering a wide variety of types of commercial refrigerators to retail stores, supermarkets, etc. For Instance, Elanpro is one of the top 5 leading commercial refrigerator companies in India. In a brief amount of time, the organization has managed to establish a distinctive position for itself in spite of international competition. The largest and most reputable names in the retail, hospitality, and pharmaceutical sectors trust us. In India, Elanpro and its partner brands are available in nearly every movie theatre chain, more than 50% of QSRs, and 70% of bars. We own a nearly 50% market share in the beverage business and more than 70% in the draught beer industry.(Source: https://elanpro.net/about-us/)Hence, As consumer demand for chilled and frozen foods expands, so does the market for commercial refrigeration.

An increase in Technological Adv...

According to Cognitive Market Research, the global IT Services market size was USD 984.8 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 8.70% from 2023 to 2030. What are the Key Opportunities Influencing the IT Services Market?

Increasing Number Of Smart Cities Supports Industry Growth

Governments throughout the world are investing in the creation of smart cities. With research money and environmental aims for member countries, the European Union supports smart city activities. Smart cities are also becoming more popular in developing countries. Around 300 smart city pilot projects are being developed in China and India alone. These objectives necessitate the implementation of cutting-edge IT infrastructure.

The emergence of AI is significantly driving the IT Services Market

This will be a big future growth driver for the IT services industry. Tencent also pledged a $70 billion investment in artificial intelligence, cloud computing, and cybersecurity between 2022 and 2030. Chinese firms have shown a significant desire to establish themselves in India through investments.

(Source:www.cnbc.com/2020/05/27/china-tech-giant-tencent-pledges-70-billion-investment-in-ai-cloud.html)

Still, their condition has deteriorated as New Delhi's attitude toward Chinese technology and investment in its domestic market has shifted. This will be a major future growth driver for the IT services sector.

Market Dynamics of IT Services Market

Key Drivers for IT Services Market

Quick Digital Change in All Sectors: Businesses in a variety of industries, including manufacturing, retail, healthcare, and finance, are quickly digitizing their processes to boost productivity, customer satisfaction, and competitive standing. This change is driving up demand for IT services including software integration, infrastructure management, and cloud migration, particularly from businesses implementing automation and data-driven tactics. Growing Use of Hybrid IT Models and Cloud Computing: IT service providers are in great demand for consultation, implementation, and managed services as companies shift from on-premise infrastructure to cloud-based solutions. Recurring revenue opportunities in deployment, migration, security, and optimization services are being created by the growth of hybrid and multi-cloud solutions.

Key Restraints for IT Services Market

High labor costs and a lack of talent: The ability of service providers to grow is being constrained by the worldwide lack of qualified IT workers, particularly in the fields of artificial intelligence, cybersecurity, cloud architecture, and DevOps. Profit margins are also being strained by the high expense of recruiting and keeping skilled workers, especially for mid-sized businesses. Privacy and Data Security Issues with Outsourcing: Because of worries about data breaches, third-party access, and regulatory issues, businesses are still hesitant to outsource critical activities. These issues may cause businesses that handle sensitive or proprietary data to postpone or cut back on their use of outside IT service providers.

Key Trends for IT Services Market

Rise of Automation, AI, and Integration with AIOps: In order to boost predictive maintenance, automate repetitive processes, and improve decision-making, AI and machine learning are being included into IT service delivery models. Infrastructure management is being revolutionized by the emergence of AIOps (Artificial Intelligence for IT Operations), which enables proactive problem solving and efficient resource utilization. Growth in As-a-Service and Managed Offerings: Managed services and "as-a-service" models (such as SaaS, IaaS, PaaS, and Security-as-a-Service) are rapidly replacing traditional IT support. These models are appealing to both major corporations and small businesses due to their predictable costs, scalability, and decreased internal IT burden.

Impact of the COVID-19 Pandemic on the IT Services Market:

The epidemic has expedited digital transformation across industries, as firms have had to adjust to distant work and online operations. This raised demand for IT services such as cloud computing, cybersecurity, and digital transformation consultancy. Companies needed to quickly integrate remote collaboration solutions, improve their cybersecurity procedures, and optimize their digit...