New York was the largest TV market in the United States, with **** million viewers from September 2022 to January 2023. The only other market to exceed the **-million-viewer mark that year was Los Angeles at around ** million. TV households in the U.S. The number of TV households in the U.S. continues to grow at a steady pace. According to the latest estimates, there were ***** million TV households in the country during the 2022-2023 broadcast season, up from an estimated *** million at the turn of the century. But while this figure continues to rise, there is also no denying that pay TV is becoming less popular each year. The U.S. pay TV industry is facing an uphill battle due to the proliferation of over-the-top video services and streaming platforms. As a case in point, the number of pay TV households in the U.S. has dropped from *** million in 2013 to roughly **** million in 2022. Television consumption habits Despite a temporary uptick in television consumption amid the pandemic, viewers in the U.S. have been spending less time in front of the TV in recent years. Reports indicated that the daily television viewing time declined by ** minutes between 2019 and 2022, now standing at around three hours. But not all age groups have abandoned the silver screen equally as rapidly. Zooming in on television consumption by age group, one can find that adults aged 65 and above have extended viewing durations for several years and now spend more than twice the amount of time with the medium as viewers aged 44 or below.

New York was the largest North American TV market from January 2023 to September 2023, with close to **** million viewers. Ranking second came Los Angeles with around ** million viewers, followed by Chicago with about **** million viewers.

This statistic displays the number of Hispanic TV households in the United States in the 2017/18 TV season. Ranked first is Los Angeles with **** million Hispanic TV households.

Largest Hispanic TV markets in the United States

It may not come as a surprise that Los Angeles is the largest Hispanic TV market in the United States. Los Angeles is the second largest TV market in the United States, in which almost one of every two inhabitants is Hispanic. In 2016, California boasted the largest Hispanic population (***** million) of all US states, beating Texas, ranked second, by almost *** million people. According to 2016 data, California was home to almost ** percent of the entire **** million Hispanic population in America.

This statistic displays the number of African-American TV households in the United States for the 2017/18 TV season. Ranked second is Atlanta with around *** thousand African-American households. The number constitutes around * percent of all African American TV households in the U.S.

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Television Market Size 2025-2029

The television market size is valued to increase USD 73.1 billion, at a CAGR of 8.2% from 2024 to 2029. Product innovation and advances leading to portfolio extension and product premiumization will drive the television market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 38% growth during the forecast period.
By Technology - UHD segment was valued at USD 53.60 billion in 2023
By Display Size - Upto 43 inches segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 109.44 billion
Market Future Opportunities: USD 73.10 billion
CAGR : 8.2%
APAC: Largest market in 2023

Market Summary

The market encompasses the production, distribution, and consumption of television services and devices. Core technologies, such as OLED and Quantum Dot, continue to drive innovation, leading to product premiumization through advanced features and higher resolutions, like 8K UHD. Applications span from traditional broadcasting to streaming services, with the latter experiencing significant growth. Service types include pay-TV, free-to-air, and subscription-based models. Regulations, like the European Union's Audiovisual Media Services Directive, influence market dynamics. Despite the advances, challenges persist, such as the lack of 4K content and high production costs.
The introduction of 8K UHD televisions represents a major leap forward in display technology, offering enhanced picture quality and immersive viewing experiences. The global OTT video market share is projected to reach 33.3% by 2026. This continuous evolution underscores the market's dynamic nature, offering opportunities for companies to expand their portfolios and cater to evolving consumer preferences.

What will be the Size of the Television Market during the forecast period?

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How is the Television Market Segmented and what are the key trends of market segmentation?

The television industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  UHD
  HD


Display Size

  Upto 43 inches
  55-64 inches
  48-50 inches
  Greater than 65 inches


Type

  Smart TV
  LCD, Plasma, and LED TVs
  Cathode-Ray Tube (CRT) and Rear-Projection TVs


Distribution Channel

  Offline
  Online


Screen Technology

  LCD
  OLED
  QLED
  MicroLED


Smart Features

  Smart TV with Internet connectivity
  Voice-controlled TV
  TV with built-in streaming services
  TV with gaming capabilities


Price Range

  Mass
  Premium


Application

  Residential
  Commercial


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Technology Insights

The uhd segment is estimated to witness significant growth during the forecast period.

The market continues to evolve, with significant advancements in display technologies and connectivity options. Currently, over 30% of televisions sold incorporate Wi-Fi connectivity, enabling seamless streaming of content from various sources. Micro LED technology and 8K resolution displays are gaining traction, offering enhanced brightness metrics and superior HDR picture quality. Smart TV platforms, such as those with LED backlight technology, are increasingly popular due to their energy efficiency and advanced features, including motion interpolation technology and voice control. Quantum dot technology and mini-LED backlighting are also emerging trends, providing improved color gamut coverage and local dimming technology for superior contrast ratio metrics.

Power consumption watts remains a crucial consideration, with energy efficiency ratings becoming increasingly important. USB connectivity and Ethernet connectivity are essential for easy content transfer and internet access. The market is expected to grow, with 35% of industry players forecasting increased demand for UHD televisions due to their advanced picture processing engines and support for streaming video services like Dolby Vision. Screen size variations cater to diverse consumer preferences, with refresh rate performance and response time metrics ensuring smooth visual experiences. Sound system technology and audio output channels continue to advance, offering immersive home theater experiences.

OLED burn-in prevention and HDMI connectivity are essential features for preventing screen damage and ensuring compatibility with various devices. In summary, the market is charac

This statistic displays the number of Asian TV households in the United States in the 2017/18 TV season. Ranked fifth is Chicago, with ***** thousand Asian households. This figure makes **** percent of all Asian TV households in the U.S.

The North America television market reached approximately USD 22.08 Billion in 2024. The market is projected to grow at a CAGR of 2.80% between 2025 and 2034, reaching a value of around USD 29.10 Billion by 2034.

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Contrast Media Market Size 2024-2028

The contrast media market size is valued to increase USD 925.1 million, at a CAGR of 3.2% from 2023 to 2028. Increasing geriatric population and chronic and infectious diseases will drive the contrast media market.

Major Market Trends & Insights

North America dominated the market and accounted for a 47% growth during the forecast period.
By Modality - X-ray/CT segment was valued at USD 2163.50 million in 2022
By Application - Neurological disorders segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 31.69 million
Market Future Opportunities: USD 925.10 million
CAGR : 3.2%
North America: Largest market in 2022

Market Summary

The market encompasses the production and distribution of substances used to enhance the visualization of structures within the body during medical imaging procedures. This dynamic market is driven by several factors, including the increasing geriatric population and the rise in chronic and infectious diseases. According to a recent study, the market is expected to account for over 40% of the total medical imaging consumables market by 2025. However, the market also faces challenges, such as the adverse reactions of contrast media, which can lead to nephrogenic systemic fibrosis and other health complications.
Despite these challenges, the market continues to evolve, with the launch of new contrast media and advancements in core technologies and applications, such as ultrasound and magnetic resonance imaging (MRI), driving growth. Additionally, regulatory frameworks and regional differences play a significant role in shaping the market landscape.

What will be the Size of the Contrast Media Market during the forecast period?

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How is the Contrast Media Market Segmented and what are the key trends of market segmentation?

The contrast media industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Modality

  X-ray/CT
  MRI
  Ultrasound


Application

  Neurological disorders
  Cardiovascular disorders
  Cancer
  Gastrointestinal disorders
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Rest of World (ROW)

By Modality Insights

The X-ray/CT segment is estimated to witness significant growth during the forecast period.

The market is experiencing notable expansion, with the X-ray/CT segment leading the growth charge. This trend is fueled by the escalating need for sophisticated diagnostic techniques and technological advancements in the medical field. The X-ray/CT segment dominates the market due to its widespread usage in clinical practice worldwide. The increasing prevalence of chronic diseases, such as cardiovascular disorders, cancer, and gastrointestinal ailments, is a significant factor driving the demand for contrast media in these imaging modalities. As the global incidence of these conditions continues to rise, healthcare professionals increasingly rely on diagnostic imaging procedures for precise diagnosis and effective treatment planning.

In the realm of X-ray/CT imaging, iodinated contrast media, with their particle size distribution optimized for enhanced image quality assessment, hold a prominent position. Regulatory guidelines mandate stringent safety measures, including toxicity studies and allergenicity assessments, to mitigate risks associated with iodinated contrast media. Iodinated dimers, which offer improved stability and reduced nephrotoxicity risk, have gained popularity in recent years. Gadolinium-based contrast agents, essential for magnetic resonance imaging (MRI), are another significant market segment. These agents, available in various forms such as blood-pool agents, non-ionic contrast agents, and ionic contrast agents, undergo rigorous stability testing to ensure isoosmolarity and maintain optimal viscosity for optimal imaging results.

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The X-ray/CT segment was valued at USD 2163.50 million in 2018 and showed a gradual increase during the forecast period.

The diagnostic imaging landscape is continuously evolving, with ongoing research and development focusing on improving contrast media clearance, minimizing contrast media reactions, and assessing renal function. Computed tomography (CT) contrast enhancement and osmolality testing are crucial aspects of this ongoing research, aiming to reduce contrast-induced nephropathy and improve patient safety. In summary, the market is experiencing substantial growth, driven by the increasing demand for advanced diagnostic techniques and technological advancements. The X-ray/CT seg

In the last few years, the television production industry has undergone a transformative period marked by a steady shift from traditional cable to online streaming. A sink in cable subscriptions and the emergence of online alternatives have increased competition among programming buyers to acquire top content. Yet the heightened degree of competition has contributed to a perceived climb in production quality and what some critics have labeled the newest “Golden Age of TV.” As consumers increasingly ditch cable for streaming platforms like Netflix, Amazon Prime and Disney+, the industry is pivoting to meet this digital-first preference. Industry revenue is expected to have increased at a CAGR of 3.9% over the past five years and will reach an estimated $62.3 billion in 2025. Revenue has recovered from significant setbacks due to work stoppages induced in 2020 by the COVID-19 pandemic. However, industry-wide strikes caused another major disruption in 2023. Ultimately, revenue is set to incline 1.7% in 2025 as profit returns to positive. Streaming services have either bought or produced new content to attract and retain the consumers who have been increasingly dropping their cable packages. Although the cord-cutting trend has hurt revenue for cable providers and networks, the primary purchasers of TV content and production companies have benefited from the ensuing competition. Due to declining broadcast TV viewership and the proliferation of video options for consumers, TV networks have increased their investments in content that will attract viewers through websites, streaming services or on-demand platforms. Streaming giants have invested heavily in content, driving up production budgets and fostering fierce competition for quality programming. Also, tax incentives from states like Georgia and New Mexico have attracted countless productions, contributing significantly to local economies. There are several circumstances in this industry's favor going forward. For instance, given the growth of new TV platforms and the continued development of mobile app capability, content viewership rates are poised to climb. Streaming services boost the negotiating power of small TV production companies by enabling them to bypass broadcasters, which traditionally had significant leverage over content producers. Also, integrated TV production and distribution companies will have a direct channel to viewers as cable TV subscriptions gradually diminish. However, the outcome of the industry-wide strikes will lead to increased costs for TV producers in the coming years. Overall, industry revenue is expected to climb at a CAGR of 1.4% to reach an estimated $66.6 billion in 2030.

Screen Media Market Outlook

According to our latest research, the global screen media market size reached USD 74.3 billion in 2024, driven by surging demand for digital display solutions across diverse sectors. The market is experiencing a robust compound annual growth rate (CAGR) of 7.1% from 2025 to 2033, propelled by technological advancements, expanding digital advertising, and the growing adoption of interactive screens. By 2033, the global screen media market is forecasted to reach USD 138.1 billion, reflecting its pivotal role in modern communication, entertainment, and information dissemination.

The primary growth factor for the screen media market is the rapid evolution and integration of advanced display technologies such as LED, OLED, and high-resolution LCD panels. These innovations are significantly enhancing visual experiences, offering superior image clarity, brightness, and energy efficiency compared to traditional display solutions. Businesses and institutions are increasingly leveraging these technologies to capture audience attention, improve user engagement, and deliver dynamic content. The proliferation of smart cities and the digitization of public infrastructure have further fueled the adoption of digital signage and interactive displays, particularly in transportation hubs, shopping malls, and urban centers. As the cost of advanced screens continues to decrease and their performance improves, the market is witnessing widespread penetration across both developed and emerging economies.

Another crucial driver is the explosive growth of digital advertising and entertainment industries. Brands and marketers are shifting substantial portions of their budgets from traditional media to digital out-of-home (DOOH) advertising, utilizing large-format screens in high-traffic areas for targeted, real-time campaigns. The entertainment sector is also witnessing a transformation, with cinemas, sports arenas, and event venues investing in immersive display technologies to enhance audience experiences. The education and corporate sectors are not far behind, increasingly adopting interactive screens for collaborative learning and efficient communication. The versatility of screen media, which can be customized for diverse content and settings, is ensuring its relevance across multiple verticals, supporting the market’s sustained expansion.

The rise of remote work, online learning, and virtual events has further accelerated the demand for high-quality screen media solutions. Organizations are investing in advanced display systems to facilitate seamless virtual collaboration, presentations, and training sessions. This trend is particularly evident in the corporate and education sectors, where interactive whiteboards, digital kiosks, and video walls are becoming standard fixtures. Additionally, the healthcare industry is leveraging screen media for patient engagement, digital wayfinding, and telemedicine applications, further broadening the market’s scope. As end-users increasingly prioritize digital transformation and customer engagement, the screen media market is poised for continued growth and diversification.

Regionally, Asia Pacific is emerging as the dominant force in the global screen media market, accounting for the largest share in 2024. This growth is fueled by rapid urbanization, expanding retail infrastructure, and significant investments in smart city projects across China, India, Japan, and Southeast Asia. North America and Europe also represent substantial markets, driven by early adoption of innovative display technologies and robust demand from advertising, entertainment, and corporate sectors. Meanwhile, the Middle East & Africa and Latin America are witnessing steady growth, supported by increasing digitalization initiatives and rising consumer awareness. The global landscape is characterized by intense competition and continuous innovation, with regional players tailoring solutions to local preferences and regulatory requirements.

Product Type Analysis

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Snapshot img

US Pay Tv Market Size 2025-2029

The US pay tv market size is forecast to increase by USD 6.45 billion at a CAGR of 1.7% between 2024 and 2029.

The Pay TV market in the US is driven by the high demand for live programming and sports content, which continues to be a significant draw for subscribers. The ease of use offered by cable TV providers, enabling seamless access to a wide range of channels, further bolsters the market's growth. However, the emergence of online streaming platforms poses a notable challenge. These home entertainment platforms, with their flexibility and affordability, are increasingly gaining traction among consumers. As a result, traditional Pay TV providers must adapt to remain competitive, focusing on enhancing their offerings and customer experience to retain subscribers and attract new ones.
Companies in the market can capitalize on this competitive landscape by investing in innovative technologies and strategies to differentiate themselves and cater to evolving consumer preferences.

What will be the size of the US Pay Tv Market during the forecast period?

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The Pay TV market in the US is characterized by continuous advancements in technology and consumer preferences. Content moderation and user interface design play crucial roles in ensuring user experience optimization and customer satisfaction. High-definition video quality and live streaming are now standard offerings, requiring substantial network bandwidth. Content partnerships and on-demand content are driving media distribution, with artificial intelligence and machine learning powering content strategy and personalization. Virtual and augmented reality technologies are emerging, enhancing user engagement metrics and media consumption patterns. Media consolidation and system integration are key trends, as companies seek to optimize subscription revenue and advertising revenue through innovative marketing strategies.
Digital marketing and social media marketing are essential components of these strategies, while digital watermarking and content licensing agreements safeguard content monetization and intellectual property. Customer data protection and program guide data are critical for maintaining trust and improving user experience. Emerging technologies, such as 5G networks and advanced audio quality, will further shape the Pay TV landscape.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  Satellite TV
  Cable TV
  IP TV


End-user

  Household
  Commercial


Type

  Postpaid
  Prepaid


Geography

  North America

    US

By Technology Insights

The satellite tv segment is estimated to witness significant growth during the forecast period.

In the dynamic pay TV market of the US, traditional cable TV and satellite providers face intense competition from over-the-top (OTT) platforms and mobile TV services. Content licensing and production costs are significant challenges for cable TV companies, which offer channel packages with hundreds of channels. In contrast, OTT platforms like Netflix, Hulu, and Amazon Prime Video focus on personalized recommendations and data compression to deliver content efficiently over broadband internet. Cable TV companies have responded by offering internet bundles and unique features, as well as adopting business strategies to counteract subscriber churn. Broadcast networks and OTT platforms engage in content creation and distribution, with talent acquisition and customer relationship management playing crucial roles.

Technical support and data encryption are essential for ensuring user experience and protecting intellectual property. Industry regulations, such as antitrust laws and audience measurement, impact the market dynamics. Multi-screen viewing and targeted advertising are popular trends, with wireless networks and edge computing enabling multi-channel television and interactive television experiences. Content delivery networks and smart TVs facilitate content discovery and digital rights management. Content acquisition and aggregation are essential for both cable TV and OTT platforms, with program guides and user interfaces optimized for ease of use. Subscription models and billing systems are critical components of the pay TV ecosystem.

Network infrastructure, network capacity, and data analytics are vital for delivering high-quality content, including 4k resolution and viewership ratings. The convergence of media and technology continues to shape the pay TV market, with fiber optic and cloud computing playing increasingl

United States OTT Media Services Market is projected to grow at impressive rate during the forecast period on account of increasing internet connectivity.

The North America media planning and buying market size reached a value of USD 202.24 Billion in 2024. The market is further expected to grow at a CAGR of 13.70% in the forecast period of 2025-2034 owing to the expanding advertising budgets.

The emergence of new media and the shift away from traditional media toward digital services has particularly prompted a change in media buying strategies. Since almost all companies are undergoing a digital transformation, media buying agencies must specialize in online advertising to adapt to the changing media landscape. Data-driven insights and programmatic advertising have propelled the industry forward. With rising consumer spending and corporate profit, businesses increasingly pour more resources into advertising to capture larger market shares. Media buying agencies have been riding this wave, capitalizing on the surging demand. Media Buying Agencies revenue has increased at a CAGR of 3.3% to a total of $13.8 billion in 2025, including an estimated 1.9% in the current year, while profit reaches 6.5%. The industry has witnessed rapid transformation driven by digital innovation and shifting consumer behaviors. Advertisers have gravitated toward digital platforms, spurred by the drastic transition from traditional media. This shift resulted in digital spending overtaking traditional media investments, with giants like Facebook, Google, and Amazon capturing significant market shares. The emergence of programmatic ad buying and data analytics has revolutionized how agencies target audiences, allowing for more precise and efficient campaigns. Amid this evolution, consolidation among major players like Omnicom and WPP has heightened competition, pushing smaller firms toward niche markets or out of the industry altogether. These dynamics have underscored the importance of adapting to technological advancements and economic changes to remain competitive. Over the next five years, businesses are poised to increase their advertising budgets to capitalize on rising consumer activity, providing significant opportunities for media buying agencies. The phase-out of third-party cookies and increasing emphasis on first-party data will drive agencies to focus on privacy-compliant strategies, while AI-driven programmatic advertising will continue to transform the industry. Agencies will expand services, offering integrated, multi-channel strategies and leveraging influencer marketing to tap into niche markets. The expansion of digital platforms has given access to niche markets that were harder to reach in the past. Companies increasingly turn to media buying agencies to seek integrated marketing solutions that harness cross-platform potential, driving revenue growth. Nonetheless, the proliferation of digital ad space, declining prices and waning demand for traditional advertising will limit industry growth. Overall, industry revenue is poised to hike at a CAGR of 1.8% to $15.1 billion in 2030.

In mid-2023 it was calculated that Brazil would be the largest entertainment and media market in Latin America, with a value of over **** billion U.S. dollars that year. Mexico ranked second, with a market size surpassing ** billion dollars at the same time.

In the ********* TV season, the DMA (designated market area) with the most TV households in the United States was New York, with **** million TV households. Ranking second, albeit far behind New York, was Los Angeles, with **** million. Smaller markets like Phoenix, Tampa-St. Pete, Seattle-Tacoma, Detroit, and Minneapolis-St. Paul all had between **** and **** million television households each.

Organoid Culture Media Market Outlook

As per our latest research, the global Organoid Culture Media Market size in 2024 stands at USD 186.4 million, reflecting a robust momentum propelled by increasing adoption in research and clinical applications. The market is experiencing a healthy compound annual growth rate (CAGR) of 13.7% and is forecasted to reach USD 549.2 million by 2033. The primary growth factor driving this expansion is the surging demand for advanced 3D cell culture models in drug discovery, personalized medicine, and disease modeling, as organoid systems become integral to translational research and preclinical testing.

The upward trajectory of the Organoid Culture Media Market is largely attributed to the increasing recognition of organoids as physiologically relevant models that closely mimic human tissue architecture and function. Unlike traditional 2D cell cultures, organoids provide more accurate insights into disease mechanisms, drug responses, and cellular differentiation, making them indispensable in oncology, regenerative medicine, and genetic research. Pharmaceutical and biotechnology companies are increasingly investing in organoid-based platforms to accelerate drug development pipelines, reduce attrition rates, and enhance predictive toxicology, further fueling demand for specialized culture media formulations tailored to various tissue types and experimental needs.

Another significant growth driver is the rapid advancement in stem cell technology and gene editing tools, such as CRISPR-Cas9, which have expanded the utility and complexity of organoid models. These technological breakthroughs allow for the generation of patient-derived organoids, facilitating personalized medicine approaches and enabling researchers to model rare or genetically complex diseases. The growing prevalence of chronic diseases, cancer, and infectious diseases has amplified the need for sophisticated in vitro models that can recapitulate human disease phenotypes, thereby accelerating the adoption of organoid culture media in both academic and industrial research settings. Furthermore, collaborations between academia, industry, and government agencies are bolstering funding and innovation, creating a fertile environment for market growth.

The increasing focus on ethical and regulatory compliance in biomedical research has also contributed to the expansion of the Organoid Culture Media Market. Organoid systems offer a viable alternative to animal testing, aligning with the 3Rs (Replacement, Reduction, and Refinement) principles and addressing ethical concerns associated with animal experimentation. Regulatory bodies, such as the FDA and EMA, are gradually recognizing the value of organoid-based assays in preclinical safety and efficacy evaluations, encouraging their integration into drug development workflows. This regulatory endorsement is expected to further stimulate market growth by fostering greater acceptance and standardization of organoid technologies across the life sciences sector.

Spheroid Culture Systems are gaining traction as a complementary approach to organoid culture, offering unique advantages in the study of cellular interactions and tissue architecture. These systems facilitate the formation of three-dimensional cellular aggregates, or spheroids, which can mimic the microenvironment of tumors and other complex tissues. By providing a more physiologically relevant context, spheroid culture systems enhance the predictive power of in vitro models, particularly in cancer research and drug screening. Researchers are increasingly utilizing spheroid cultures to investigate cell-cell and cell-matrix interactions, tumor invasion, and angiogenesis, thereby expanding the toolkit available for translational research. The integration of spheroid culture systems with organoid models is paving the way for more comprehensive studies of tissue dynamics and disease progression, further driving the demand for innovative culture media solutions.

Regionally, North America dominates the global market, accounting for the largest revenue share in 2024, followed by Europe and Asia Pacific. The United States, in particular, benefits from a strong concentration of leading biotech firms, academic research institutions, and robust funding for life sciences innovation. Europe is witnessing significant growth dr

United States Outdoor Advertising Market was valued at USD 10.34 Billion in 2024 and is expected to reach USD 16.72 Billion by 2030 with a CAGR of 8.34% during the forecast period.

The cell culture media market is projected to be valued at US$ 3,513.8 million in 2024 and reach US$ 6,699.93 million by 2034. The market is expected to expand at a CAGR of 6.66% over the forecast period.

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