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More Than Half of Americans Fear Covering Unexpected Expenses in 2025

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Rising Cost of Goods and Economic Uncertainty Create Financial Strain and Shift Payment Preferences, According to New Splitit and PYMNTS Consumer Study

ATLANTA, March 31, 2025 /PRNewswire/ — New research from Splitit and PYMNTS finds that more than 53% of consumers are concerned about affording unexpected expenses in 2025 amid rising anxiety over economic uncertainty. “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs,” which surveyed more than 7,000 consumers, highlights the financial strain unplanned purchases create—especially among parents and younger consumers—and how credit accessibility sways spending and payment behaviors. These report findings are especially crucial as leading indicators point to a broad decline in consumer confidence, driven by worries over the impact of tariffs on household finances.

“From trade turbulence to market volatility, Americans are navigating a growing list of financial challenges,” said Nandan Sheth, CEO of Splitit. “Consumers are feeling very anxious at the moment, which is why we see consumers becoming more strategic in managing unplanned expenses, balancing financial stability with flexible payment options. Credit card-linked installments provide a smart way to handle life’s surprises, allowing shoppers to leverage their existing credit lines while maintaining financial flexibility. With many consumers already accustomed to using their credit cards for these types of purchases, this approach offers a seamless and responsible way to stay in control in today’s uncertain economy.”

Unplanned expenses, such as emergency car repairs (42.9%) and home repair costs (34.3%), often come with a hefty price tag. Home repairs, the most expensive category, carry a median spend of $2,112. Despite the growing popularity of Buy Now, Pay Later (BNPL), only 9% of consumers used it for emergency purchases—showing that many still default to credit cards, with 38% of Baby Boomers relying on them for emergency costs. As consumers look for more budget-friendly payment options, there’s a clear opportunity for flexible pay-later solutions that prioritize transparency and control.

The report highlights a broader trend: Consumers are relying on credit cards and alternative financing solutions to manage both emergency and impulse spending. Among key findings:

$605 is the median cost of emergency purchases over $250.50% of consumers cite the rising cost of goods as the top reason why they expect to make fewer impulse purchases this year.Gen Z is the most concerned about their ability to cover unexpected expenses at 63%.36% of consumers made an impulse purchase of at least $250 in the last three months, with a median spend of $497.33% of consumers used a credit card as their primary form of payment for their most recent emergency purchase.45% of BNPL users say knowing their purchase would be approved was a key factor in their decision to use it.48% of consumers who made their latest impulse purchase with a credit card paid it off in full at the next statement, while 30% opted for installment plans.Gen Z leads the shift toward credit card-linked installment payments, with 24% choosing merchant-offered installment plans—double the rate of older generations.

Credit accessibility continues to shape purchasing behavior. Consumers with strong credit are more likely to finance unexpected expenses, while those with below-average credit hesitate to make unplanned purchases due to limited financing options. Millennials and Gen Z, in particular, are leaning into flexible payment options—26% of millennials expect to increase their impulse purchases in the next year.

With installment plans resonating across generations—36% of non-Boomer consumers who paid by credit card for an impulse purchase chose an installment plan—it’s clear that consumers are seeking more control over how they pay. As economic uncertainty continues, flexible payment solutions will play a critical role in helping shoppers manage their financial well-being.

Yet, even as consumers navigate emergency expenses, half of shoppers made an unplanned purchase last year, highlighting the tension between financial caution and spontaneous spending. This paradox suggests that while consumers are mindful of budgets and economic uncertainty, they are still drawn to impulse buys, whether driven by emotional triggers, limited-time deals or social influence. For brands, this means balancing affordability, value-driven messaging and flexible payment options with strategies that tap into the spontaneity of consumer spending.

Methodology

The survey for the “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs” report was conducted with 7,078 consumers across all demographics from January 29 to February 7, 2025.

Download the full report here.

About Splitit

Splitit is a global payment solution provider that lets shoppers use the credit they’ve earned by breaking up purchases into monthly installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without originating new credit. Splitit serves many of Internet Retailer’s top 500 merchants and is accepted by more than 1,500 eCommerce merchants in over 30 countries and shoppers in over 100 countries.

Splitit Media Contact
Danielle Poggi
Berns Communications Group
dpoggi@bcg-pr.com

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SOURCE Splitit USA, Inc.

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Glove Box Market to Reach $3.1 billion, Globally, by 2034 at 5.1% CAGR: Allied Market Research

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46 minutes ago

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April 14, 2025

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WILMINGTON, Del., April 14, 2025 /PRNewswire/ — The glove box market is propelled by increasing demand across industries such as pharmaceuticals, healthcare, semiconductors, and nuclear research, where controlled environments are essential. Rising investments in research and development, particularly in biotechnology and nanotechnology, drives market growth. Additionally, stringent safety regulations in handling hazardous materials and chemicals boost adoption. The growing semiconductor industry, requiring ultra-clean environments, further fuels demand. Technological advancements, such as automation and integrated monitoring systems, enhance efficiency and usability. Moreover, expanding aerospace and defense applications contribute to market expansion. Emerging economies’ industrialization and rising laboratory setups also provide significant growth opportunities for the market.

Allied Market Research published a report, titled, ‘Glove Box Market by Equipment (Plastic Glove Box, Stainless Steel Glove Box, Acrylic Glove Box, Aluminum Glove Box, Others), by Port Configuration (Single Port Glove Box, Double Port Glove Box, Multi Port Glove Box), by End-User Industry (Pharmaceutical and Biotechnology, Electronics and Semiconductor, Automotive and Industrial, Research and Laboratories, Others): Global Opportunity Analysis and Industry Forecast, 2025-2034′. According to the report, the ‘glove box market’ was valued at $1.8 billion in 2024, and is estimated to reach $3.1 billion by 2034, growing at a CAGR of 5.1% from 2025 to 2034.

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Prime determinants of growth

The glove box market is expected to witness notable growth owing to the increasing demand in pharmaceutical and biotechnology research and growth of the semiconductor industry requiring controlled environments which is driving the demand for glove box. Moreover, advancements in automation and smart glove box technology is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, high initial investment and maintenance costs limits the growth of the glove box market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2025–2034

Base Year

2024

Market Size in 2024

$1.8 billion

Market Size in 2034

$3.1 billion

CAGR

5.1 %

No. of Pages in Report

291

Segments Covered

Equipment, Port configuration, End User and Region

Drivers

Increase in Demand in Pharmaceutical and Biotechnology ResearchRise in Awareness Over Biosafety and Stringent Laboratory Safety StandardsRapid Growth in the Electronics Industry and Establishment of New Research Laboratories

Opportunities

Rise in Research and Development Facilities

Restraint

High Initial Investment and Maintenance Costs

Purchase This Comprehensive Report (PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/42gVRwQ

Stainless steel glove box segment dominated the market in 2024

By Equipment, stainless steel glove box segment held the highest market share in 2024 accounting for more than one-fourth of the glove box market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its durability, corrosion resistance, suitability for hazardous material handling, and widespread use in pharmaceuticals, nuclear, and semiconductor industries. Moreover, the stainless steel glove box segment is projected to manifest the highest CAGR of 6.2% from 2025 to 2034.

Multi port glove box segment dominated the market in 2024

By configuration, the multi port glove box segment dominated the market share in 2024 accounting for the largest share in 2024, contributing to more than two-fifths of the global glove box market revenue, due to its high operational efficiency, ability to accommodate multiple users, increased workspace, and growing demand in research and industrial applications. However, the double port glove box segment is projected to manifest the highest CAGR of 5.8% from 2025 to 2034.

Pharmaceutical and biotechnology segment dominated the market in 2024

By end user, the pharmaceutical and biotechnology segment held the highest market share in 2024 accounting for the largest share in 2024, contributing to nearly two-fifths of the global glove box market revenue, due to strict contamination control requirements, increasing R&D activities, rising drug development, stringent regulatory standards, and growing biopharmaceutical manufacturing demand. Moreover, the pharmaceutical and biotechnology segment is projected to manifest the highest CAGR of 5.8% from 2025 to 2034.

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Asia-Pacific region is expected to continue its dominance throughout forecast period

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2024, accounting for nearly half of the global glove box market revenue, owing to rapid industrialization, expanding pharmaceutical and semiconductor sectors, increasing R&D investments, stringent safety regulations, and growing demand for controlled environments. Moreover, the Asia-Pacific segment is projected to manifest the highest CAGR of 5.7% from 2025 to 2034.

Players: –

Labconco CorporationJacomexAMADA WELD TECHTerra Universal. IncMunro Instruments LimitedPlas-Labs, Inc.Cleatech, LLCEteluxVigor Technologies (USA) IncStericox India Private Limited

The report provides a detailed analysis of these key players in the global glove box market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Key Benefits For Stakeholders

This report provides a quantitative analysis of the Glove Box market segments, current trends, estimations, and dynamics of the glove box market analysis from 2024 to 2034 to identify the prevailing Glove Box Market Opportunity.The market research is offered along with information related to key drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the glove box market segmentation assists to determine the prevailing market opportunities.Major countries in each region are mapped according to their revenue contribution to the global Glove Box Industry.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the Glove Box Industry players.The report includes the analysis of the regional as well as global glove box market trends, Glove Box Industry key players, Containment Glove, Glove Box Market segments, application areas, and Glove box market growth strategies.

Glove Box Market Report Highlights

By Equipment

Plastic Glove BoxStainless Steel Glove BoxAcrylic Glove BoxAluminum Glove BoxOthers

By Port Configuration

Multi Port Glove BoxSingle Port Glove BoxDouble Port Glove Box

By End-User Industry

Pharmaceutical and BiotechnologyElectronics and SemiconductorAutomotive and IndustrialResearch and LaboratoriesOthers

By Region

North America (U.S., Canada, Mexico)Europe (UK, Germany, France, Italy, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa)

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Philatron Wire and Cable to Showcase Advanced EV Charging Solutions at Advanced Clean Transportation (ACT) Expo 2025

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April 14, 2025

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SANTA FE SPRINGS, Calif., April 14, 2025 /PRNewswire/ — Philatron Wire and Cable, a premier American manufacturer of high-performance wire and cable, is proud to announce its participation in the Advanced Clean Transportation (ACT) Expo 2025, taking place April 28 to May 1, 2025, at the Anaheim Convention Center in Anaheim, California. Philatron invites all attendees to visit Booth #4238 to discover the company’s latest innovations in EV charging cable technology.

Powering the Future of Clean Transportation

As the EV industry accelerates toward ultra-fast charging, expanded infrastructure, and higher performance expectations, Philatron continues to lead with cutting-edge cable solutions. At ACT Expo 2025, Philatron will showcase its robust lineup of custom-engineered EV charging cables, including:

High-Performance Extra Flexible Subzero EV Charging Cables: Designed to perform in extreme environments with flexibility to -60°C (EVE & EVJE) and -40°C (EVT & EVJT). These cables are built for durability and resistance to abrasion, flame, water, ozone, and chemicals.UL-Listed EV Power Cables: Available in 300 Volt (Type EVJE & EVJT) and 600/1000 Volt (Type EVE & EVT) ratings, offering safe and reliable power delivery for residential, commercial, and fleet EV charging needs.

Certified for Performance and Reliability

Philatron cables align with industry standards such as:

UL 62 & UL 2263 Compliant for type EVE/EVJE/EVT/EVJTRoHS CompliantISO and IATF Certified Manufacturer

These certifications reinforce Philatron’s ongoing commitment to quality, safety, and environmental sustainability.

Made in the USA—With Innovation at the Cabling Core

With over 51 years of manufacturing excellence, Philatron offers complete in-house capabilities including copper drawing, roping, cabling, extrusion, coiling, and molding—all proudly made in the USA. Philatron’s continued innovation supports the EV electric mobility movement with sustainable, high-performance solutions.

Meet Us at Booth #4238

Philatron welcomes visitors to Booth #4238 at ACT Expo 2025 to explore how our engineering and design capabilities can power your next EV infrastructure project. For one-on-one meetings or product demonstrations, please contact our team in advance.

Contact Information

For more information, visit: 
https://philatron.com/
Philatron USA: (800) 421-3547 (PST)

For information about the ACT Expo 2025, visit https://www.actexpo.com/conference/ 

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SOURCE Philatron International

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United States (USA) Smart Manufacturing Market worth $116.48 billion by 2029 – Exclusive Report by MarketsandMarkets™

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46 minutes ago

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April 14, 2025

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DELRAY BEACH, Fla., April 14, 2025 /PRNewswire/ — The USA smart manufacturing market is projected to grow from USD 52.65 billion in 2024 to USD 116.48 billion by 2029 at a CAGR of 17.2% during the forecast period according to a new report by MarketsandMarkets™. Advancements in automation, digitalization, and the focus on operational efficiency drive smart manufacturing in the US. The widespread adoption of smart factories, characterized by connected systems, data-driven decision-making, and autonomous production lines, enhances productivity and competitiveness. Government initiatives and incentives for industrial modernization further accelerate this transition. Additionally, the emphasis on sustainability and energy efficiency has led industries to integrate intelligent energy management systems to optimize resource utilization. The growing demand for high-quality production, real-time monitoring, and predictive maintenance has propelled the adoption of the Industrial Internet of Things (IIoT), artificial intelligence, and cloud computing in manufacturing.

View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/smart-manufacturing-market-105448439.html

Industrial collaborations driving smart manufacturing market in the US.

Industry collaborations are playing a crucial role in driving the growth of the smart manufacturing market. For instance, in October 2024, Cognizant partnered with Amazon Web Services (AWS) to enhance smart manufacturing capabilities across various industries, including industrial, automotive, life sciences, and consumer goods. This collaboration focuses on leveraging cloud computing, IoT, and artificial intelligence to optimize manufacturing processes. Similarly, in November 2024, the Clean Energy Smart Manufacturing Innovation Institute (CESMII) joined forces with the National Institute of Standards and Technology’s Manufacturing Extension Partnership (NIST MEP) to support small and medium-sized manufacturers adopting smart manufacturing technologies. This partnership aims to improve productivity and enhance competitiveness in the US manufacturing sector by providing education, training, and technology integration.

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Government initiatives and funding to accelerate the smart manufacturing market in the US.

The US government has been advancing smart manufacturing initiatives to strengthen domestic manufacturing capabilities, enhance energy efficiency, and address climate challenges. Substantial investments have been directed toward accelerating the adoption of smart manufacturing technologies. For instance, in January 2025, the U.S. Department of Energy announced nearly USD 13 million in funding under the Bipartisan Infrastructure Law to support states, state-funded universities, and technical and community colleges. This initiative aims to expand access to smart manufacturing technologies and high-performance computing (HPC) resources for domestic manufacturing firms, fostering innovation and efficiency in the sector. Additionally, in 2024, the U.S. Department of Energy’s Advanced Materials and Manufacturing Technologies Office announced a USD 33 million funding opportunity to drive the advancement of smart manufacturing technologies and processes. This initiative aims to support developing and deploying innovative technologies and materials essential for the nation’s clean energy transition.

Increasing investments in smart factory projects across the US lead to growth in the smart manufacturing market.

The increasing investment in smart factories in the US is driving the growth of the smart manufacturing industry. Companies across various industries are adopting advanced automation, artificial intelligence, and Internet of Things-enabled solutions to enhance operational efficiency, reduce downtime, and improve production quality. For instance, in 2024, Ericsson announced an additional investment of USD 50 million in its U.S. 5G Smart Factory, following its initial USD 100 million investment in 2020. This facility is a key part of Ericsson’s strategy to advance 5G manufacturing capabilities through automation and digitalization. Additionally, the US has several smart factories, including Ericsson’s 5G Smart Factory, Siemens’ Norwood Factory, Tesla Gigafactories, and Ford’s Rouge Electric Vehicle Center.

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Key Players

The key players operating in the smart manufacturing companies in the US include 3D Systems, Inc. (US), ABB (Switzerland), Cisco Systems, Inc. (US), Emerson Electric Co. (US), and General Electric Company (US), among others.

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