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Desktop Humidor Market Size to Grow USD 197 Million by 2030 at a CAGR of 4.3% | Valuates Reports

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BANGALORE, India, Sept. 30, 2024 /PRNewswire/ — Desktop Humidor Market is Segmented by Type (Wooden Humidor, Glass Top Humidor), by Application (Household, Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Desktop Humidor Market was valued at USD 151 Million in 2023 and is anticipated to reach USD 197 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Desktop Humidor Market

The global desktop humidor market is growing as cigar enthusiasts and collectors increasingly prioritize proper cigar storage to maintain quality and freshness. Desktop humidors are specialized containers designed to control the humidity levels required to preserve cigars, which are sensitive to fluctuations in moisture. These humidors typically come in various sizes and materials, such as wood and glass, and offer an aesthetically pleasing way to store cigars, making them popular among individuals and businesses alike. The rise in disposable incomes and growing interest in premium cigars, particularly in North America and Europe, are key factors driving the demand for desktop humidors. In addition, the commercial use of desktop humidors in cigar lounges, bars, and specialty shops is expanding, further boosting market growth. As cigar culture continues to flourish, particularly among younger demographics, the market for desktop humidors is expected to witness steady growth. The increased focus on craftsmanship, luxury, and the presentation of high-end cigar accessories is also shaping the market dynamics.

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TRENDS INFLUENCING THE GROWTH OF THE DESKTOP HUMIDOR MARKET

Wooden humidors are a significant driver of the desktop humidor market, as they are the preferred choice for many cigar enthusiasts due to their durability and aesthetic appeal. High-quality wood, such as Spanish cedar, is known for its ability to regulate humidity levels and enhance the flavor of cigars, making it an ideal material for humidors. The craftsmanship and luxurious appearance of wooden humidors also make them desirable for collectors and connoisseurs. As demand for premium cigars continues to rise, the market for wooden humidors is expanding, with consumers willing to invest in high-end storage solutions to preserve their cigar collections.

The growing popularity of cigars as a luxury lifestyle product is driving the demand for desktop humidors in households. Many individuals now view cigar smoking as a hobby, leading them to invest in humidors to properly store and age their cigars at home. Desktop humidors are particularly appealing to household consumers due to their compact size and ability to hold a personal collection of cigars. As cigar culture becomes more mainstream, particularly among younger generations, the demand for home cigar storage solutions is increasing, contributing to the growth of the desktop humidor market.

The commercial sector, including cigar lounges, bars, and specialty tobacco shops, is another key driver of the desktop humidor market. These establishments require humidors to display and store cigars in optimal conditions, ensuring product quality for their customers. Commercial businesses are increasingly investing in aesthetically pleasing and functional desktop humidors to enhance the customer experience and elevate the presentation of their cigar offerings. The rise of cigar lounges and smoking-friendly bars in urban areas has created a steady demand for commercial-grade humidors, further driving market growth.

The increase in disposable incomes, particularly in developed economies, is one of the primary factors driving the growth of the desktop humidor market. As consumers have more spending power, they are more likely to indulge in luxury goods, including premium cigars and cigar accessories. The growing number of affluent individuals who can afford to invest in high-quality humidors is contributing to market expansion. This trend is especially prominent in North America and Europe, where cigar smoking is often associated with a premium lifestyle. As disposable incomes continue to rise globally, the demand for desktop humidors is expected to grow.

The rising interest in premium cigars is significantly contributing to the growth of the desktop humidor market. As consumers become more discerning about the quality and origin of their cigars, they are also seeking storage solutions that preserve the freshness and flavor of their collections. The increasing popularity of limited-edition and hand-rolled cigars has heightened the need for reliable humidors that can maintain consistent humidity levels. As a result, cigar enthusiasts are willing to invest in high-end desktop humidors, which has led to an increase in market demand, particularly among collectors and connoisseurs.

The global expansion of cigar lounges and bars is another factor driving the growth of the desktop humidor market. These establishments offer customers a curated experience, where cigars are often displayed and stored in desktop humidors that preserve their quality. The rise of cigar lounges as social spaces has increased the demand for aesthetically pleasing and functional humidors that enhance the presentation of cigars. As the cigar lounge culture continues to grow in major cities worldwide, the market for desktop humidors is expected to benefit from this trend, particularly in regions with strong smoking cultures.

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DESKTOP HUMIDOR MARKET SHARE

The desktop humidor market varies by region, with North America and Europe leading due to the strong cigar culture and higher disposable incomes in these areas. The United States, in particular, is a major market for desktop humidors, driven by the popularity of premium cigars and the growing number of cigar lounges. Europe, especially countries like Spain and Italy, is also a key market, as cigar smoking is deeply embedded in the culture. The Asia-Pacific region is emerging as a potential growth area, as interest in luxury goods and premium cigars rises among affluent consumers in countries like China and Japan.

Key Companies:

Humidores WacotaGerberVigilantSinostar Packaging Manufacturer Co., LtdCase EleganceGrand HumidorsHolt’s Cigar CompanyPrestige Import GroupCigar Star

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Cigar Humidor Market

–  Cigar Cooler Humidor Market

–  Cigar Market revenue was USD 17650 Million in 2022 and is forecast to a readjusted size of USD 21020 Million by 2029 with a CAGR of 2.5% during the forecast period (2023-2029).

–  Electric Desktop Humidor market was valued at USD 5.3 Million in 2023 and is anticipated to reach USD 7.8 Million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

–  Wooden Desktop Humidor market was valued at USD 146 Million in 2023 and is anticipated to reach USD 190 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

–  Electronic Humidor Cabinet Market

–  Fuel Cell Humidifier market was valued at USD 76 Million in 2023 and is anticipated to reach USD 929 Million by 2030, witnessing a CAGR of 45.6% during the forecast period 2024-2030.

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Technology

Preventing Signal Degradation due to Inclement Weather with an Innovative Heating System

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AURORA, Ill., Sept. 30, 2024 /PRNewswire/ — Scientel Solutions (Scientel) headquartered in Aurora, IL USA has launched an antenna enhancement product focused on avoiding potential weather caused interference and downtime. In partnership with Surface Heating Systems, Scientel has developed an Anti-Ice heating system for millimeter antennas of all sizes. The new product is compatible with most major manufacturers and intended to prevent the buildup of snow and ice, thus keeping the antennas operational in the most severe weather conditions.

Antenna interruptions cause network down time, data loss, and can create an operational nightmare. The formation of ice and often heavy snowfall, especially on parabolic antennas, is a major cause of loss of signal transmittal and reception during winter months.

“Utilizing millimeter radios in weather affected regions was previously challenging given the difficulty of site access. This technology has ensured that there is no ice buildup which enables the delivery of Gigabits of capacity to remote facilities, without having to dispatch to the site.” – Bill Asselborn, Project Manager at Scientel Solutions

The Anti-Ice heating system is a robust, hard-backend system that either easily attaches to the rear of the antenna, directly heating the structure or via an intermediate enclosed air gap. Both variations have a control unit which only turns on when the temperature is below 40 degrees, and moisture is detected. Thus, keeping the energy utilization to a minimum. These systems can be installed with minimal disruption to the service.

Having already been deployed in the Midwest and Northeast portion of the United States, these units have the capability to withstand the most severe weather conditions through the brutally cold months. 

All systems can be supplied with fully automatic controls with the option of SNMP upgrade. 

About Scientel Solutions

Scientel Solutions is The Universal Integrator that offers 360° technology services supporting clients’ dynamic and sophisticated communications, video, and data management needs. Their mission is to enhance the quality of life for their Customers, Partners, Employees, and Community. They are headquartered in Aurora, IL with offices across the United States, Canada, and Europe, with extended capabilities to service clients globally.

Visit them at: www.scientelsolutions.com

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SOURCE Scientel Solutions

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KUDO Earns 4th Patent for AI Innovation Amid the Launch of KUDO AI v.3.0

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KUDO launches a new AI engine, KUDO AI v3.0, while gaining a fourth US Patent for innovative speech translation method.

NEW YORK, Sept. 30, 2024 /PRNewswire-PRWeb/ — After being granted three Patent certifications from the United States Patent Office (USPO) within the last twelve months, the KUDO team rounds off Q3 of 2024 with a fourth – for ‘Systems and methods for automatic speech translation’ – being added to their impressive collection. The granting of the Patent comes after extensive R&D efforts into AI speech-to-speech technology following KUDO’s Series A investment round, and amid another round of UX and UI optimizations to their product suite that include a new AI engine, KUDO AI v.3.0.

Since January 2024, KUDO AI Speech Translator has seen a 453% increase in monthly client usage. The solution’s ease of use and market-leading translation quality are the result of a complex process incorporating state-of-the-art Natural Language Processing systems and Large Language Models. KUDO’s latest Patent, no. 12,079,588, focuses on this unique method for real-time, continuous translation, with an emphasis on automatic speech recognition and a segmentation model that almost instantly organizes sentences in a way that the translations are rendered as naturally as possible.

Having already undergone a new AI engine previously, significant UX and UI improvements, the addition of a custom glossary feature, and more, the KUDO team is continuing its commitment to delivering the most user-friendly AI Speech Translator by sharing further product enhancements to the solution’s translation quality and captions.

New AI Engine – KUDO AI v.3.0

In this update, new and existing clients of KUDO AI can expect to see an even greater increase in accuracy and fluency than in our last AI engine upgrade, due to be released in October. The objective, as always, is to continue improving the translation quality of KUDO AI while ensuring that the latency (lag) between the original speech and the translation remains as short as possible. Read our in-depth guide for more information about the quality of AI translation and the role of latency.

UX/UI Customization of Captions

Continuing the theme of an enhanced user experience, the live captions on all of KUDO’s product interfaces have undergone a revamped design adapted for accessibility.

On the KUDO Platform videoconferencing interface, and KUDO’s Mobile Link solution which can be accessed simply by scanning a QR code, users can now benefit from: light and dark mode for the screen, the ability to select the size and color of the captions to suit your preferences, and the option to choose the default font or Open Dyslexic, a font which is designed to increase readability for participants with dyslexia.

More Accessible Captions on MS Teams

In KUDO’s last update on Microsoft Teams, the team added automatic language detection. In October, the same optimizations to KUDO’s captions will be rolled out on its native integration on Microsoft Teams. This means that users will be able to access the same KUDO AI customizable captions directly on Microsoft Teams. Microsoft Teams users will also benefit from the optimizations to translation quality with the launch of KUDO AI v3.0.

About KUDO

KUDO is the world leader in providing real-time multilingual solutions that enable people to communicate effortlessly in any language⁠—on any platform. Their network of 12,000 professional language interpreters, combined with their ground-breaking Speech Translator, empower organizations of all sizes to collaborate more efficiently, with greater inclusivity, and on an international scale. KUDO Inc. is a New-York based technology start-up founded and managed by language and conferencing industry insiders seeking to create a world in which everyone has the power to understand and be understood in their own language.

Media Contact

Chloë Walford-Delahaye, KUDO Inc., +1 347 943 9056, marketing@kudo.ai, kudo.ai

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SOURCE KUDO Inc.

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Digital Federal Credit Union and First Tech Federal Credit Union Announce Intent to Merge

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Combined entity will provide members an unrivaled digital experience, a coast-to-coast branch network with expanded member service hours, and access to premier financial products and advisors.

MARLBOROUGH, Mass. and SAN JOSE, Calif., Sept. 30, 2024 /PRNewswire/ — Digital Federal Credit Union (DCU) and First Tech Federal Credit Union (First Tech) announce their intent to combine through a merger of equals for the benefit of members, employees, and communities. Following completion of the merger, which is subject to approval from the National Credit Union Administration (NCUA) and First Tech’s membership, the new entity will emerge as a $28.7 billion credit union serving nearly two million members with more than 50 branches in eight states. The proposed combination, which is expected to be completed in 2025, has the unanimous approval of both the DCU and the First Tech Board of Directors and their respective leadership teams.

Members will experience no immediate changes as the two organizations will operate independently as DCU and First Tech until systems and processes are integrated and operational. Upon completion of the integration, the combined organization will operate under DCU’s charter and the First Tech Federal Credit Union name. In recognition of the strong and proud histories of both DCU and First Tech, employees and members of both organizations will work together to develop a brand experience that honors both entities’ roots with a future-forward vision. First Tech President and CEO Greg Mitchell will remain with First Tech through the integration. DCU President and CEO Shruti Miyashiro will become President and CEO of the newly combined credit union. 

“Our credit unions have a shared origin—each created to serve the financial needs of technology employees, their families and digitally savvy members across the country,” said Shruti Miyashiro, President and CEO of Digital Federal Credit Union. “The transformative power of this merger of equals will unlock enormous potential to deliver value and opportunity for the people who matter most—our members, our employees and the communities we serve.”

“Uniting the capabilities of the nation’s two leading technology-forward credit unions will allow us to innovate and push the boundaries to deliver more elevated experiences by making material investments in products and services to meet the needs of our growing membership,” said Greg Mitchell, President and CEO of First Tech Federal Credit Union. “With shared principles of people helping people, the new organization will also become the single-largest national philanthropic leader in the industry, donating more than $4 million annually to positively impact our local communities.”

More information about the intent to combine into one organization may be found at DCU.org and Firsttechfed.com.

ABOUT DIGITAL FEDERAL CREDIT UNION

DCU is a $12 billion financial cooperative headquartered in Marlborough, Massachusetts. Established in 1979 as the credit union for the employees of Digital Equipment Corporation (DEC) and their families, today DCU serves over 1.1 million members across all 50 states and Puerto Rico. DCU has a proud legacy of serving many members who are newer to banking, including young-adults, historically underserved, or new arrivals to the U.S. banking system. DCU’s member-centric mission and commitment to digital innovation informs how products, solutions and services are created to provide a remarkable experience to support members’ financial goals. With 23 branch locations and 35 ATMs across Massachusetts and New Hampshire, members have additional access to DCU’s award-winning digital banking platform and mobile app as well as more than 5,600 branches in a shared CO-OP network, plus over 30,000 surcharge-free ATMs nationwide. Federally insured by NCUA. Equal Housing Lender. For additional information, visit dcu.org. 

ABOUT FIRST TECH FEDERAL CREDIT UNION 

First Tech Federal Credit Union is a nearly $17 billion institution headquartered in San Jose, California. The nation’s premier credit union serves the world’s leading technology-oriented companies and their employees, including HP Inc., Hewlett Packard Enterprise, Microsoft, Agilent, Intel, Cisco, Amazon, Nike, Intuit, Google, and more. First Tech is recognized as the industry catalyst for delivering effortless banking experiences to more than 660,000 members through its 34 branch locations, more than 5,600 CO-OP Shared Branch locations, 30,000 CO-OP Network ATMs, and online platforms. First Tech offers a full range of financial services, including traditional banking, online banking, mortgages, financial planning, various consumer loans, and insurance services. Federally insured by NCUA. Equal Housing Lender. For more information, visit www.firsttechfed.com

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SOURCE Digital Federal Credit Union/First Tech Federal Credit Union

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