Speech Analytics Market to Advance at 19.9% CAGR

Speech analytics software reviews and analyzes live customer calls and recordings to draw an analysis of overall customer experience, and help organizations in devising strategies for enhancing customer experience. Valuing $1,010.4 million in 2018, the speech analytics market is predicted to garner $2910.1 million, advancing a 19.9% CAGR in the coming years. The applications of the speech analytics software are risk & compliance management, agent performance monitoring, call monitoring, and customer experience management. In 2018, the largest application area of this software was customer experience management. 

In fact, in the near future as well, it will continue being the largest application area of speech analytics software. This can be attributed to the rising need for the evaluation of the overall customer experience and further predict the customer satisfaction score to help companies improve their product and services sales.

Speech analytics software is being deployed in various industries, such as retail, government, manufacturing, media & entertainment, healthcare, information technology & telecom, hospitality, and banking, financial services, and insurance (BFSI). In 2018, the highest deployment of the software was in the BFSI industry. Financial institutions struggle to engage customers, which is resulting in the deployment of this software to gain better visibility of customers and provide them a better experience. In the coming years, the fastest growth in demand in the speech analytics market is expected to be witnessed by the retail industry. With ever-changing requirements of customers, retailers are employing the software to understand the needs of customers to serve them better and enhance their brand image and up their customer retention rate.

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The demand for speech analytics software is rising from the small and medium enterprises (SMEs) by the day. These enterprises are taking help from the software for gauging customer preferences and current trends to expand their product portfolio and services. SMEs are including the software in their workflow to retain customers and offer them an improved service. Further, the cloud-based deployment of the speech analytics software has improved the accessibility of speech analytics solutions to SMEs, as it does not require any investments for any new hardware installation. 

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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Start-Stop Technology Market to Display Healthy Growth During Forecast Period

The stringent emission control regulations and increasing adoption of hybrid vehicles are two of the major factors responsible for the growth of the start-stop technology market. In 2015, the market generated revenue of $2,100.2 million, and it is predicted to attain a size of $7,058.0 million by 2022, progressing at a CAGR of 18.8% during the forecast period (2016–2022). Start-stop technology automatically turns off the engine, when the vehicle is about to stop and restarts it again when the driver takes their foot off the brake in automatic-transmission vehicles or use the clutch in case of manual transmission.

On the basis of product, the start-stop technology market is divided into enhanced starter, direct starter, integrated starter generator (ISG), and belt-driven alternator starter (BAS). Out of these, during the historical period (2012–2015), enhanced starters dominated the market in terms of sales volume and revenue, and these are predicted to maintain their dominance during the forecast period. This is attributed to their better cost-effectiveness and fuel-efficiency compared to BAS and direct starters. Due to these benefits, the demand for enhanced starters is rising, thereby leading to the growth of the market. 

 Based on region, the market is categorized into Asia-Pacific, Europe, North America, and Rest of the World (RoW). Among these, during 2012–2015, Europe led the market in terms of sales volume, and it is projected to continue leading it during 2016–2021. This is ascribed to the high contribution by the U.K., Germany, France, and Italy to the European start-stop technology sector, which is dominated by colossal players, such as Continental AG, Robert Bosch Gmbh, and Denso Corporation.

Furthermore, the rapid development of the technologies in the automotive sector in European countries and surging concerns on carbon emission are two of the reasons behind the growth of the start-stop technology market. In accordance with the European government’s regulations, the average emission level from new cars decreased by 160 g/km during 2006–2012, and by 2020 it is expected to reduce to 95 g/km. In addition, the governments of various individual nations are formulating strict environmental guidelines focusing on reducing the vehicle emission.

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For instance, the Environmental Protection Agency (EPA) has implemented emission standards for light trucks and cars. As per EPA’s target for 2016, the permissible emission from a passenger car could not cross 225 g/mi (gram/mile). Similarly, in 2016, the allowed combined fuel economy for trucks and cars was 35.5 mpg, which is further to surge up to 54.5 mpg by 2025 in North America. Due to the increasing emission from fossil fuel-driven vehicles, the level of air pollution is rising, resulting in major concerns across the globe.

This, in turn, has compelled policy makers to come up with an alternative, i.e. low-emission vehicles. Although, natural gas-based public transit is still preferred as an alternative to fossil fuel-based public transit, hybrid vehicles are earning popularity nowadays owing to their zero-carbon dioxide emission, thus, boosting the progress of the start-stop technology market, mainly in developed nations. Despite the sluggish economic growth in European countries, such as France, Sweden, and Norway, hybrid and electric vehicle sales are expected to be augmented during 2016–2022.

Thus, the increasing penetration of such vehicles and stringent government regulations are projected to fuel the growth of the market during the forecast period.

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Largest Market Share in the Colombian Wound Care market is Expected to be Held by the State of Cundinamarca

Registering a CAGR of 3.6% during the forecast period (2019­–2024), the Colombian wound care market is predicted to reach $93.9 million by 2024, witnessing a substantial increase in its revenue from $76.1 million in 2018.

Taking the geography of the country into consideration, the largest market share in the Colombian wound care market is expected to be held by the state of Cundinamarca. This is mainly ascribed to the increasing research & development activities and rising expenditure on healthcare due to supportive government policies and initiatives. Other states, such as Bolivar, Atlántico, Valle del Cauca, Santander, and Antioquia also hold significant shares in the market on account of the surging incidence of traumatic injuries, burns, and diabetic wounds as well as rising geriatric population.

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The Colombian wound care market is witnessing growth due to the rising focus on healthcare services. The wound care facilities in Colombia are witnessing a surge in demand as both the public and private organizations are increasing healthcare coverage. An article published in the Health and Human rights journal in 2016, mentioned that in the country, the healthcare coverage witnessed a remarkable increase during 1991–2016; starting from 25% population in 1992, the health cover facilities were available to 96% population in 2016. This is indicative of the rising focus of the government on providing excellent healthcare facilities and means to the residents of the country.

Stem cell therapy in wound management is becoming the trend in the Colombian wound care market. Extensive research on stem cells has established their remarkable regenerative abilities, which may help in speeding up the wound healing process. A biotechnology company, BioXcellerato LLC, has its treatment center in Colombia by the name of Torre Medica El Tesoro that provides stem cell treatment for various cosmetic and other conditions. Further, it is involved in stem cell therapy and regenerative medicine research for finding prospective treatments for wound and other skin disorders.

Some of the major players in the Colombian wound care market are Paul Hartmann AG, Acelity L.P. Inc, Smith & Nephew plc, Coloplast A/S, BSN medical GmbH, B. Braun Melsungen AG, 3M Company, Mölnlycke Health Care AB, and ConvaTec Group plc.

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Development of Organized Retail Driving Commercial Refrigeration Equipment Market Globally

In 2017, the global commercial refrigeration equipment market generated a value of $41,396.7 million and is expected to advance at a 6.2% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the rising demand for ready-to-eat products and beverages and development of organized retail. 

The freezers and refrigerators that are utilized for storage, merchandizing, and commercial retail within hypermarkets, convenience stores, supermarkets, restaurants, and other commercial spaces are referred to as commercial refrigeration equipment.

There has been a major transformation in the refrigeration technology in the past few years, as manufacturers have shifted from fluorinated gases (F-gases) to natural refrigerants. Geographically, developed countries in Europe and North America are on the verge of completely eliminating the use of F-gases from their commercial refrigeration equipment.

For instance, a key player in the commercial refrigeration equipment market, Carrier Corporation, changed the technology of its MiniCO2OL commercial refrigerator series quite early by replacing F-gases with natural refrigerants, such as carbon dioxide.

The manufacturing cost of MiniCO2OL refrigerators is quite low, compared to similar F-gas-based equipment. The cost-efficiency factor of such natural refrigerant-based equipment is increasing their demand among small and medium-scale food retailers.

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On the other side, developing countries in Asia-Pacific (APAC) have not yet phased out F-gases, because manufacturers here are yet to get their hands on advanced technology for F-gas elimination. But, considering the CAGR forecasted in the region (9.3% in terms of revenue), it is being assumed that manufacturers will be able to acquire the technology and do away with F-gases.

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Rising Bus Sales Augmenting Automotive Air Suspension System Market Growth

The automotive air suspension system market is being driven by the growing disposable income, demand for luxury buses, population, and rate of urbanization. The market valued $4,963.6 million in 2015, and it is projected to progress at a 7.6% CAGR during 2016–2022 (forecast period). Air suspension systems comprise various individual components, which are integrated in vehicles to provide a smooth journey by reducing the effects of jerks as vehicles go over potholes or rough terrain.

An integrated system comprises an air spring, shock absorber, air compressor, height sensor, electric control unit, and air reservoir. Among all these, the automotive air suspension system market was dominated by shock absorbers in terms of revenue as well as sales volume during the historical period (2012–2015). Apart from minimizing the effects of jerks, shock absorbers also prevent the vehicle from tilting too much to one side when cutting a sharp curve. As these systems make the vehicle more stable and easily controllable, these are expected to continue leading the market during the forecast period.

In terms of vehicle type, the market is divided into buses, light commercial vehicles, and passenger cars. Throughout the historical period, buses were the largest division in the air suspension system market in value and volume terms and are predicted to retain their position during the forecast period. This is attributed to the rising pollution levels, which are impelling people to switch to public transit, which most commonly consists of buses.

Air Suspension System Business in Auto Sector

The major reason behind the rising pollution is rapid urbanization, which is accompanied with the setting up of factories that emit harmful substances into the atmosphere. The World Health Organization claims that currently 50.0% of the worldwide population lives in urban areas, and their proportion would increase to 70.0% by 2050. It also mentioned that air pollution killed 3.7 million people prematurely across the world in 2012. So, as governments raise awareness on the same and popularize public transport, the sale of buses will continue to drive the air suspension system in  automotive sector growth.

Apart from climate change and the need to reduce carbon emissions, the increasing demand for luxury buses is another reason for the growth of this division. With the rising popularity of mass transit, people are preferring to travel by buses for comparatively longer distances than before. Therefore, state governments as well as private transport agencies are rapidly purchasing luxury buses to offer passengers a comfortable journey with less jerks. The demand for luxury buses with air suspension systems for overnight journeys is also increasing as these offer passengers a sound sleep.

Another factor helping the automotive air suspension system market grow is the rise in the disposable income, which is encouraging customers to purchase premium cars. As per the National Bureau of Statistics of China, the annual per capita disposable income of urban households rose to $4,692.9 in 2014 from $2,818.6 in 2010. Similarly, in India, the per capita GDP, which was $1,432.3 in 2010, grew to $1,500.8 in 2012. Due to such factors, the sales of personal vehicles, especially in the premium segment, are drastically increasing.

in 2012, China became the second largest market for premium cars after the U.S. by recording 1.25 million car sales, which are further predicted to grow to 3 million by 2020. With this, China will become the largest market for such cars. As these cars come installed with air suspension systems, the growth in the premium car market in China would contribute to the global Vehicle air suspension system market progress.

Therefore, the market for automotive air suspension systems will grow with the rising premium car and luxury bus sales.

GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET 

• By Technology – Manual Air Suspension, Electronic Air Suspension 
• By Component – Shock Absorber, Air Spring, Air Compressor, Air Reservoir, Height Sensor, Electric Control Unit (ECU), Others 
• By Vehicle Type – Bus, Passenger Car, Light Commercial Vehicle (LCV) 
• By Region – Europe, North America, Asia-Pacific and Rest of the World

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Blockchain Trend in Auto Industry - Technologies shaping the Future of Auto Sector

The global automotive blockchain market is projected to grow at a considerable rate during the forecast period. This can be mainly attributed to the benefits offered by the blockchain technology in the automotive industry, such as real-time monitoring, auditability, and scalability of information. The application of blockchain in various automotive functional areas is on the rise, as automotive original equipment manufacturers (OEMs) continue to invest in the technology to uncover its potential in the industry.

Blockchain in Auto Industry

On the basis of application, the automotive blockchain market has been categorized into manufacturing, supply chain logistics, retail finance and leasing, mobility solutions, and others. Of these, the market for mobility solutions is expected to witness significant growth in the coming years on account of the rapidly growing shared mobility industry, rise in the consumer demand for advanced mobility services, and inclusion of blockchain in automotive business models.

Based on the type of blockchain used, the automotive blockchain market has been categorized into public, private, and consortium. Of these, the public and private blockchains are the most preferred types, with their applications varying based on the business model adopted. During the forecast period, the market for private blockchain is expected to grow at a considerable rate, as the adoption rate of the technology is higher in the private domain as compared to other domains. Also, public blockchain has low scalability and involves high transaction costs, which make the private blockchain the preferred category in the automotive blockchain industry.

What are the factors impacting the growth of this market?

The major growth drivers for the automotive blockchain market are the benefits offered by the blockchain technology, such as real-time monitoring, auditability, and scalability of information. Also, with growing digitization, the technology has become an integral part of information technology (IT) budgets in the automotive industry. Blockchain in the automotive industry is useful in various areas such as mobility solutions, connected cars, supply chain logistics, retailing and leasing, autonomous driving, and IoT applications. The financial divisions of OEMs are now exploring the technology for financial applications. In the coming years, OEMs are expected to employ the technology in other automotive applications.

Also, various participants in the automotive ecosystem have started taking initiatives toward the formation of consortiums and formulation of policies to comply with the regulatory mandates on a global scale. In the coming years, besides disrupting the automotive industry, the blockchain technology is expected to create growth opportunities and facilitate digital transformation in the industry. Thus, it can be said that these factors are likely to boost the growth of the automotive blockchain market in the near future.

Industry Challenges

The growth of the automotive blockchain market is primarily hindered by the lack of proper legislations regarding blockchain technology applications and data protection. For instance, in European countries, the deployment of the blockchain technology-based applications is restricted by the rights granted to the public/private entities under the European General Data Protection Regulation (GDPR). The blockchain technology and its applications come with several potential technical and economic risks. It is due to this that the governments across the world are concerned about the potential threats that the technology poses to the data protection rights and privacy of individuals.

The global automotive blockchain market is characterized by changing consumer behavior, technological advancements, increased use of data for improvement in logistics and mobility services, and evolving operating models in different automotive functional areas. Although the market is in its nascent phase currently, it is expected to witness notable growth in the coming years on account of the increasing adoption of the technology by automotive manufacturers.

Some of the key players operating in the automotive blockchain market are IBM Corporation, Microsoft Corporation, Accenture PLC, carVertical, Helbiz Mobility System PTE Ltd., Tech Mahindra Ltd., ShiftMobility Inc., BigchainDB GmbH, ConsenSys, Context Labs BV, Ethereum, Factom Inc., Mesosphere Inc., Oaken Innovations, Productive Edge LLC, Project Provenance Ltd., Ripple Labs Inc., and XAIN AG.

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How is Rising Demand for Medication Management Helping Clinical Decision Support System (CDSS) Market Grow

Doctors, nurses, pathology labs and pharmacies, are just a few elements of the healthcare industry, which are involved in patient care. Sometimes, depending on the condition of patients, rehabilitation services are also availed.  As many components are involved in caregiving, the need for proper communication among them and the patients is necessary. This would not only help in reducing medication errors, but would also help in providing coordinated care. To achieve this, the demand for healthcare information technologies (HIT) is rising, which include medication management systems and Clinical Decision Support System (CDSS). These technologies help in consolidating patient-related medical information to aid in decision making for creating a suitable treatment plan, including medication, rehabilitation, and care. The advanced application of the HIT system that is providing clinical decision support (CDS) to healthcare professionals by assisting in clinical decision-making tasks for better outcomes.

The CDSS market is witnessing growth and expected to register a CAGR of 21.5% CAGR in the coming years. The software finds application in drug dosing support, clinical guideline, clinical reminder, drug–drug interaction, and drug allergy alert. During 2012–2015, the software was used the most for drug allergy alert applications. Many drugs are known to trigger allergic reactions in some patients, or if they are consumed with some other drugs. These drug-induced allergic reactions may prove to be fatal, and, therefore, drugs should be prescribed with utmost care. CDSS solutions not only help in studying possible drug–drug interactions, but also help in identifying the type of interaction that may initiate an unwanted immune response in the body. Majority of the electronic medical records (EMR) and computerized physician order entry (CPOE) systems have data related to a patient’s allergies. The database has all the information regarding the medication and allergies stored, which generates an alert if a potential drug interaction is detected. These CDSS systems are gaining popularity among healthcare service providers due to their high success rate and immediate query response.

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The clinical decision support system (CDSS) market is advancing due to the rising popularity of the software in healthcare facilities due to its advanced applications, including drug reminders, double-checking medication administration properties, and drug allergy alerts. They help in reducing the chances of adverse effects of drugs and medication errors, thereby improving the quality of healthcare services provided to patients at a reduced healthcare cost. In home healthcare settings, the medication management system is integrated with the CDSS, and simplifies the task for caregivers by correctly calculating the dosage and administration of medication. At times, patients are unable to remember their entire medication regimen and end up missing a dose. In such scenarios, the CDSS-integrated smartphone-based self-management systems enabled with real-time medication monitoring technology issues reminders to patients to timely consume the required dose of medicine.

In developed countries, mainly of Europe and North America, majority of the hospitals and other healthcare facilities are equipped with HIT including the CDSS software. In emerging economies of Latin America, Asia, and Africa, the deployment of the software is still in the nascent form.  With the improving economy of these regions, the healthcare sectors are booming with the construction of more hospitals and pharmacies, which are deploying the CDSS software for providing better healthcare facilities to the residents. 

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Electric Car in India Finally Showing Potential to Scale

Growing awareness about air pollution and government support toward adoption of electric vehicles (EVs) is driving the market for electric cars in India. Valued at $71.1 million in 2017 by P&S Intelligence, the Indian electric car market is projected to grow by almost 10 times during the forecast period 2018–2025, eventually generating a revenue of $707.4 million! And, it’s not just the total revenue, which is expected to be high during the forecast period, but also its CAGR (34.5%).

Electric cars are essentially battery-operated cars that produce little or no emission. Based on technology, the electric car market in India has been segregated into plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV), and hybrid electric vehicle (HEV). Among these, BEV led the market in 2017 with over 70% sales volume share. Similarly, the categories of the domain when segmented by battery are lithium-nickel-manganese cobalt oxide (Li-NMC), lithium-iron-phosphate (LFP), and others, among which the LFP category led the market in 2017 with 65% sales volume share.

Talking of the market drivers, India is expected to adopt BS VI emission norms in 2020. Aimed at reducing vehicular emissions even further, this move is predicted to drive the electric car market in India rapidly. To encourage EV adoption, the central and state governments are actively formulating favorable policies. For instance, the Central Government launched the FAME scheme in 2015, to bring down the price of electric cars across the country.

Similarly, in 2017, the NITI Aayog brought out a scheme for the construction of e-vehicle charging points along the Indira Gandhi International Airport-South Delhi-Noida corridor. Under this, 135 charging stations, including 89 slow alternating-current (AC) stations and of 46 quick charging direct-current (DC) stations are to be built at 55 locations. The governments of several states have come out with policies and schemes of their own, all of which are expected to aid in the growth of the Indian electric car market.

For instance, the Karnataka government offers 100% reimbursement on expenses incurred to set up EV manufacturing plants on agricultural land. Similarly, the Maharashtra government offers complete exemption of registration fee and road tax on electric vehicles. Under this scheme, EV and electric battery manufacturers also get 20% incentives. In another such initiative, the Uttarakhand government will set up an EV research hub in the state and offer every trainee a stipend.

All these factors have radically changed the scenario of the electric car market in India in recent years. Earlier dominated by Mahindra Electric Mobility Limited and Toyota Kirloskar Motor Pvt., the market has seen the entry of several new players, including Tata Motors Limited, Honda Motor Co. Ltd., and Hyundai Motor Company. All these manufacturers are launching electric cars with improved range, as short range has been somewhat discouraging people to buy electric cars. An example would be Mahindra Electric Mobility Limited’s eKUV100, which can run up to 140 km on a single charge.

Thus, we see that stricter emission norms and government incentives will lead to increase in electric car sales, taking the domain forward.

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Commercial Electric Vehicle Market - Growth Opportunities in Global Industry

The improvement in the operational efficiency of batteries and the long-term cost advantages of commercial electric vehicles are some of the key factors driving the growth of the commercial electric vehicle market. In addition, the rising government and environmental agency concerns over greenhouse gas (GHG) emissions and surging government initiatives to promote these vehicles over conventional fuel-based ones are predicted to strengthen the market during the forecast period (2018–2025). The market size is predicted to cross 1,839.4 thousand units by 2025, progressing at a CAGR of 18.1% during the forecast period.

In simple terms, electric vehicles are those vehicles that use one or more electric motors for movement. Such commercial vehicles are used for carrying passengers or transporting goods. The commercial electric vehicle market, on the basis of propulsion, is categorized into hybrid electric vehicle (HEV), battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), and plug-in hybrid electric vehicle (PHEV). Due to the increasing government incentives in the form of grants and subsidies and other financial benefits to encourage the use of BEVs, this category is anticipated to dominate the market during the forecast period.

There are two types of vehicles in the commercial electric vehicle market, i.e. electric bus and electric truck. Of these, during the 2013–2017 period, electric buses advanced at a CAGR of 75.4% in term of sales volume. This is ascribed to the rising replacement sales and long-term cost advantages associated with e-buses. Furthermore, with the increasing demand for these buses from end users such as city governments and public-transit operators, the market is witnessing robust growth.
The electric bus market, on the basis of length, is bifurcated into more than 10 m and less than 10 m. Of these, electric buses of less than 10 m length are predicted register faster growth in terms of volume as well as value during the 2018–2023 period. This is attributed to the high adoption rate of small buses in China and other emerging countries along with the cost-efficiency benefit, which continue to escalate the market growth across the world.

Similarly, the market for electric trucks is divided into medium-duty truck (MDT), heavy-duty truck (HDT), and light-duty truck (LDT). As compared to the other divisions, the CAGR of HDTs in terms of the units sold is anticipated to be the highest. On the global ground, Asia-Pacific, led by China, dominated the electric commercial vehicle market during the historical period (2013–2017). Some of the key factors behind the heavy sale of the electric vehicles in China are reduced battery prices and improved operational efficiency and the government’s commitment to increase electric vehicles’ share in the transportation system.

Increasing GHG emissions in the environment have become a major concern for governments and environmental agencies, globally. The air quality degradation due to the carbon-laden urban vehicular exhaust has led to the implementation of stringent policies. Presently, conventional diesel-powered commercial vehicles are a core part of the public transportation system, which majorly contributes to GHG emission. Therefore, the formulation of stringent policies is resulting in the adoption of low or zero-emission vehicles across the world.

Hence, the increasing adoption of BEVs and stringent government policies to curb air pollution are fueling the growth of the commercial electric vehicle market.

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Silicon on Insulator Market Globally – Learn the Investment Strategy of Market Major Players To Increase Business Growth

In 2018, the global silicon on insulator market generated a revenue of $684.8 million and is predicted to attain $2,285.5 million by 2024, witnessing a 22.7% CAGR during the forecast period (2019–2024).

A key trend in the SOI market is the miniaturization of devices and reduction in the cost of manufacturing chipsets for accelerating their adoption. The demand for miniaturization is increasing due to the rising requirement for smaller assemblies in specific applications and the need for cutting material costs by using smaller parts that function similarly to large parts.

Miniaturization has resulted in the emergence of small devices, which are majorly being deployed in consumer electronics and automotive applications including navigation control, infotainment systems, and collision detection.

When geography is taken into consideration, the APAC region is projected to register significant growth during the forecast period in the SOI market. The reason for this is the rising investments by wafer manufacturers for expanding their facility.

For example, Shin-Etsu Chemical Co. Ltd. announced in March 2018 that it is going to invest $996 million for expanding its production facility for its silicones business. The company is aiming to expand its business footprint in the APAC region in the near future with this investment.

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The competition in the SOI market has increased due to the swift development in fabrication technologies of SOIs, which include bonding, smart cut, and layer transfer. The four major companies in the market are SUMCO Corporation, Shin-Etsu Chemical Co. Ltd., STMicroelectronics N.V., and Soitec SA.

The players in the market are engaging in collaborations in order to expand their footprint in the market. For example, Shanghai Simgui Technology Co. Ltd. and Soitec SA announced that they are entering into an enhanced partnership in February 2019.

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Surging Prevalence of Infectious Diseases Supporting Saudi Arabia Microbiology Cell Culture Market

Growing incidents of infectious diseases, technological advancements, regulatory approvals, and increasing healthcare expenditures are some of the factors driving the growth of the Saudi Arabian microbiology cell culture market. In 2017, the market generated a revenue of $29.8 million, and it is predicted to witness a 4.5% CAGR during the forecast period (2018–2023). Microbial cell culture is the process of multiplying or growing microorganisms in a pre-decided culture medium with the use of a combination of products.

Based on the type of cell culture storage equipment, the Saudi Arabian microbiology cell culture market is bifurcated into refrigerators and freezers, and cryostorage systems. Of these, during the forecast period, the former are expected to lead the market in terms of revenue, but the cryostorage systems bifurcation is predicted to witness the higher CAGR of more than 5.0%. These systems are deployed for preserving cells stocks when the cell lines go through continuous culture, to curb the loss of cell viability.

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The Saudi microbiology cell culture market is observing a trend of automation in microbiology that helps in meeting the increasing necessity for higher test volumes and faster turnaround in laboratories. The deployment of the computer technology and use of laboratory interface systems reduce the sample volumes and deliver accurate results. In addition, the availability of matrix-assisted laser desorption/ionization-time of flight (MALDI-TOF) mass spectrometry equipment has improved the routine identification workflow of pathogenic viruses, fungi, and bacteria.

Additionally, in Saudi Arabia, the growing incidents of infectious diseases, such as malaria, tuberculosis (TB), and invasive streptococcus pneumoniae infection, are accelerating the need for advanced healthcare infrastructure and resources. As per the Global Tuberculosis Report released by the World Health Organization, in 2012, Saudi Arabia, reporting a yearly TB incidence of 18 cases per 100,000 people, remains a country with moderate TB burden. Thus, the increasing prevalence of infectious diseases is boosting the adoption of microbial identification methods for diagnosis and treatment, thereby leading to the progress of the microbiology cell culture market in Saudi Arabia.

Hence, the advancements in cell culture technology and an increasing number of regulatory approvals are expected to help the market advance during the forecast period.

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Mattress Market in US to Make Great Impact in Near Future by 2024

Market Overview

The U.S. mattress market will be observing a constant growth in the coming years due to the improvement in mattress products and rising adoption of gel-based memory foam mattress in the country. The innerspring mattress in the U.S. accounted for majority of market in recent years, followed by memory foam. The market share of memory foam mattress in the country is increasing at a high rate during the entire period of analysis.

Baby boomers, that represents 20% of the U.S. population are the prime consumers for memory foam mattresses in the country. The share of latex mattress in the country is also expected to increase during the forecast period owing to growing consciousness of customers for indoor air quality and toxic chemicals in mattress foams. The markets for plant-based memory foam, latex, and natural fibers such as organic cotton, wool, and bamboo, are also increasing.

Drivers
One of the major driver supporting the mattress market to grow at a considerable rate is the rising consumer preference towards customized mattresses in the U.S. The U.S. mattress market is mainly driven by increasing population, which is leading to increasing rate of home ownership. With the trend of fertility rates going below replacement levels, the aging population is set to accelerate in the U.S. Due to this, the demand for housing and associated markets such as the mattresses is set to increase in future.

Opportunities
A rising number of health-conscious consumers, rapid urbanization and growing demand for eco-friendly mattresses, are some of the factors providing ample opportunities for the market to grow during the forecast period. The need for wellness and health related products is increasing rapidly and the consumers are willing to pay some extra amount for health enhancing products. The consumer’s choice is based on concerns about allergies, potentially harmful chemicals, pesticides and their desire to pick healthier products. Some of the eco-friendly mattresses available in the market are natural memory foam mattresses, natural latex mattresses, and natural innerspring mattresses.

U.S. Mattress Market Competitive Landscape
Some of the key players in the U.S. mattress market include Simmons Bedding Company LLC, Kingsdown Inc., Spring Air International Inc. LLC, Tempur Sealy International Inc., Select Comfort Corporation, Southerland Bedding, and Corsicana Bedding Inc.

The global mattress market is fragmented in nature with top four companies accounting for nearly a quarter of the market. Tempur-Pedic International, Inc. acquired Sealy Corporation in 2013 to increase its market share and presence globally. Tempur and Sealy’s standalone portfolio of mattresses included specialty mattresses and innerspring mattresses before acquisition. After the acquisition, Tempur-Sealy International, Inc. had a complete portfolio of mattresses. Another key strategy behind this acquisition was to use the synergy of Tempur’s strong hold on direct sales and Sealy’s competency in industries such as hospitality, club, and department store marketing channels. Simmons Bedding Company has international license partners in over 100 countries, which are accountable for the warranty issues of Simmons’ products. Serta, Inc. has a strong presence in the U.S. mattress market.

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Ride-Hailing Market value is expected to $120.2 billion by end of 2024

Having a proper means of transportation is an important aspect of life in today’s time. Traveling has become increasingly easy with the advancements in the automobile technology. While in the past, people preferred owning their own vehicles because of the inconveniences related to public transportation, now private vehicles seem more cumbersome. Heavy investments are required for owning private vehicles, which consist of fuel cost, parking expense, insurance cost, vehicle cost, and maintenance charge. Due to these factors, the people have started adopting for ride-hailing services instead of buying their own vehicles, as they get to travel conveniently without paying for any additional maintenance services.

Ride-hailing services are provided by transportation network companies (TNC) by using online mobile applications to cater to the commuters’ needs of reaching a specific destination from a specific origin. As per a study conducted by P&S Intelligence, in 2018, the global ride-hailing market generated a revenue of $50.4 billion and is expected to attain $120.2 billion in 2024, advancing at a 13.0% CAGR in the coming years. Ride-hailing services are offered via luxury, executive, and economy vehicle types. Among these, ride-hailing services were offered the most via economy vehicles during 2014–2018. This was because the majority of commuters opt for ride-hailing services for traveling for short or medium distances, which is why they do not prefer more expensive services, such as that of luxury or executive vehicles. Moreover, the number of cars provided under this option is the highest as compared to other vehicle types. Attributed to these factors, the category is further going to be the most in demand in the near future as well.

 In addition to this, the nations around the world are focusing on spreading awareness regarding sustainable transportation system. Attributed to this, many countries have started deploying low and zero-emission transport systems. Vehicles that are offered for ride-hailing services are generally powered by electric motors, thus conforming to the environmental standards in order to ensure an emission-free ecosystem. Furthermore, the rising population around the world has resulted in the increased number of daily commuters, due to which roads are congested for longer time periods, especially during the peak hours. Because of this, the countries are further encouraging the commuters to opt for ride-hailing services, as this can comparatively reduce the number of vehicles on the roads.

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India Electric Rickshaw Battery Market Projected To Hit $722.3 million by 2024

The Indian electric rickshaw battery market is anticipated to reach $722.3 million by 2024, registering a CAGR of 13.4% during the forecast period, according to P&S Intelligence.

On the basis of vehicle, the Indian electric rickshaw battery market has been categorized into passenger carrier and load carrier. Of these, the passenger carrier category held the largest share in 2018 with more than 95% share in the market, in terms of value. This is due to the strong passenger base and demand for public transport for last-mile connectivity. However, the load carrier category is expected to witness faster growth in the market, owing to the expansion in e-commerce industry and growth in the economy, coupled with low total cost of ownership (TCO) and operational cost benefit.

The market growth is primarily driven by proliferation of electric rickshaws in many cities coupled with increasing average age of these vehicles. Initially, the electric rickshaw market has been majorly operated by unorganized and local players with a collective share of about 80% in 2016, which offered substandard quality electric rickshaws with average life of around 1.8 years. However, after GST rollout, the number of organized original equipment manufacturers (OEMs) grew, offering better-quality products with increased average battery life of around eight months. Thus, the increased battery life of electric rickshaws in the country is sequentially propelling the growth of the market.

Based on battery capacity, the Indian electric rickshaw battery market has been classified into batteries with capacity less than 101 Ah and more than 101 Ah. Electric rickshaw batteries with capacity less than 101 Ah dominated the market during the historical period. The category is anticipated to continue leading the market in the coming years, due to the dominance of unorganized local players in the market, as most of these players manufacture low-cost electric rickshaws.

Based on end use, the Indian electric rickshaw battery market has been bifurcated into OEM and replacement. The market for replacement batteries is expected to witness faster growth, with a CAGR of above 14%, in terms of volume, during the forecast period. This is due to proliferation of electric rickshaws in the country and more vehicles undergoing battery replacement This category is also expected to continue dominating the market during the forecast period.

Delhi contributed the largest revenue to the Indian electric rickshaw battery market. The large customer base, coupled with the early adoption of electric rickshaws, boosted the market for electric rickshaw batteries in the state. In addition, the increased level of air pollution in the capital led to the proliferation of electric rickshaws in the city.

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Some of the major players operating in the Indian electric rickshaw battery market are Exide Industries Ltd., Eastman Auto & power Ltd., Amara Raja Batteries Ltd., Okaya Power Pvt. Ltd., Jay Ace Technologies Ltd., Sparco Batteries Pvt. Ltd., Gem Batteries Pvt. Ltd., and Grand Batteries Pvt. Ltd.

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How Technological Advancements Are Aiding in Cancer/Tumor Profiling Market Growth?

The changing environment and adoption of unhealthy lifestyle habits, such as tobacco consumption and smoking, exposure to harmful radiations along with other factors have led to a massive increase in the incidence of cancer.  As per the World Health Organization, global cancer burden has risen to 9.6 million cancer deaths and 18.1 million new cases in 2018.  Further, the American Cancer Society reported that in 2017, approximately 1,688,780 new cancer cases were expected to be diagnosed in the U.S. and as many as 600,920 Americans were expected to lose their lives to cancer in the same year, which translates to 1,650 patients succumbing to cancer per day. 

The International Agency of Research on Cancer has predicted that by 2030, the global cancer burden would grow to 21.7 million new cases, mainly due to the increasing aging population. Cancer is an umbrella term that represents a large group of diseases and there are more than 100 types of cancer. In this disease, multiple types of tissues are affected, which contain different biomarkers. Therefore, to correctly identify these biomarkers for diagnostic purposes, cancer/ tumor profiling is the need of the hour as certain cancer types affect specific sets of genes, which can be extremely helpful in drawing a correct diagnosis.

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Cancer is a genetic disease, which is a result of changes that occur in the genes of cells that continue to divide uncontrollably.  As cancer affects numerous genes, the need for cancer profiling is being felt, which is done using various technologies, namely microarray, next generation sequencing (NGS), in-situ hybridization (ISH), immunohistochemistry (IHC), and quantitative polymerase chain reaction (qPCR).  During 2013–2016, the most popular technology for generating tumor/cancer profiles was the NGS. This can be credited to the immense popularity of this technology among researchers and scientists as it helps in parallelly sequencing millions of fragments per run. It is a high-throughput process which translates into sequencing of thousands of genes at a time. Further, this technology also has the scope of discovering rare or novel variants. Owing to the aforementioned factors, this technology would continue to remain a favorite among end users. This is expected to lead the cancer/tumor profiling market to witness significant growth at a 19.0% CAGR in the coming years, as estimated in a P&S Intelligence study.

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Cancer/tumor profiling can be used for various purposes, such as prognostics, personalized medicine, biomarker discovery, diagnostics, and others. During 2013–2016, cancer/tumor profiling was most extensively used in the personalized medicine domain. This is attributed to the high success rates achieved in cancer treatment using personalized therapy, as it offers a tailormade treatment specific to an individual. This is expected to continue being the most popular application area of cancer profiling in the coming years as well.

Helomics Corp. and Indivumed GmBH entered into a partnership in 2017 in order to analyze annotated clinical data and human cancer biospecimens from consenting patients worldwide. Other key players in the global cancer/tumor profiling market are HTG Molecular Diagnostics Inc., NeoGenomics Inc., Caris Life Sciences Inc., Oxford Gene Technology, RiboMed Biotechnologies Inc., Illumina Inc., NanoString Technologies Inc., and Genomic Health Inc.

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Mushroom Market - An Emerging Market

The mushroom market is growing at a significant rate, due to the growth of consumer awareness related to health and wellness, improving technologies to increase the shelf-life, and increase in consumption of processed foods. The growing concerns about obesity and technological advancements are some of the factors, providing ample opportunities to the expansion of the mushroom market, in the coming years.

Europe leads the global mushroom market, and is also expected to grow at the fastest rate, in the coming years. The dominance of the region is due to several factors, such as shifting consumer preference towards low-fat and healthy food, and increasing awareness about wellness and health, among the consumers of the region.

Mushrooms are the vegetables that provide various nutrients, such as selenium, vitamins, and potassium. Mushrooms contain very less amount of gluten and sodium, and do not contain cholesterol and fat in them. Production method of mushroom is absolutely different from the production method of other green vegetables. Mushrooms depend on other plant materials for their food, as no chlorophyll is present in them. To destroy any bacterial or fungal components on the substrate where mushrooms get mature, the substrate has to be pasteurized, or sterilized.

The mushrooms can be marketed through direct marketing and wholesale marketing. Direct marketing includes selling of mushrooms to restaurants, at local farmers, and in supermarkets, along with most of the regions. While marketing through local markets, the seller should concentrate more on quality and service, instead of low price of mushrooms. Whereas, selling the mushrooms through wholesale marketing, the seller has to concentrate more on the low price of mushrooms. The sellers can also develop a processed product from the mushroom, such as sauce, for selling directly to the wholesalers and end users of the products. Mushrooms can also be marketed in the off season, by drying surplus mushrooms, and storing it.

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The mushroom market can be categorized, on the basis of type, applications, and region. On the basis of type, the mushroom market can be categorized as oyster mushroom, button mushroom, shiitake mushroom, paddy straw mushrooms, and others. Button mushrooms lead the mushroom markets under the types of mushrooms category, whereas shiitake mushrooms market is expected to grow with the fastest rate, in the coming years. Shiitake mushroom’s prices are not fixed throughout the year; price is lowest at the time of high production in summer and highest at the time of low supply in winters. The mushroom market can also be categorized on the basis of applications, as fresh mushroom and processed mushroom. Processed mushroom can further be subcategorized, as frozen mushroom and canned mushroom.

Continuous research and development in the mushroom market is expanding the applicability and accelerating the growth of the mushroom market. Some of the factors restraining the growth of the mushroom market are proper process management requirement, consumer credibility, and limited shelf-life of mushrooms.

Some of the competitors in the mushroom market are Drinkwater’s Mushrooms Ltd, Lutece Holdings B.V., Okechamp S.A., The Mushroom Company, Bonduelle SCA, Monterey Mushrooms Inc., Costa Group Holdings Limited, Shanghai Finc Bio Tech Inc., and Monaghan Mushrooms Ltd.

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Age-Related Macular Degeneration Market Segmental Analysis by Therapeutics, Diagnostics, Patent, Drugs Policy and Regulatory Landscape

The market is experiencing growth due to the rising geriatric population, growing pipeline for AMD therapeutics, surging chronic disease prevalence, and increasing healthcare expenditure. Age-related macular degeneration is a retinal disorder, which is indicated by changes in the fundus of the eye. It commonly affects the elderly, in which, first, the central vision becomes blurred, which ultimately leads to blindness.

The age-related macular degeneration market is classified into Asia-Pacific, Europe, North America, and Rest of the World, based on region. In 2015, the highest value share in the market was held by the North American region. This was attributed to the rising prevalence of conditions, such as obesity and hypertension. Further, the presence of major pharmaceutical companies supports the regional market growth. In 2022, with high healthcare expenditure of countries in the region, it is predicted to hold more than 90.0% of the market share.

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The age-related macular degeneration market is growing due to the rising geriatric population. Old age is one of the major risk factors of the disease, which may lead to visual impairment, and eventually complete blindness. A report on global aging population was published by the United Nations Department of Economic and Social Affairs, which mentioned that the global population of people in the 60 and above age group, is growing at a high rate. The share of geriatric population by 2050 is predicted to grow to 21.1% from 11.7% in 2013.

Therefore, the market for AMD is predicted to register remarkable growth in the forecast period with the rising prevalence of this disease and surging geriatric population.

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Asia Electric Three-Wheeler Market Share, Development, Growth, and Demand Forecast, 2013–2023

Environmental degradation, government support, low ownership cost, and declining battery prices are resulting in increased electric three-wheeler sales across Asia-Pacific (APAC). Electric three-wheelers are those, in which the fuel is replaced by an electric battery as its power source. Projected to witness a CAGR of 4.1% during the forecast period 2018–2023 as per P&S Intelligence, the Asia-Pacific (APAC) electric three-wheeler market is expected to generate a revenue of $11,935.1 million by 2023.

Going by the vehicle segment, the domain is categorized into passenger carrier and load carrier. Of the two, passenger carriers registered higher sales, owing to a wide consumer base in the region and demand for low-cost shared mobility. As per the motive power, <1,000 W, 1,000–1,500 W, and >1,500 W are the three categorizations of the electric three-wheeler market in Asia-Pacific. Among these, the 1,000–1,500 W category recorded the highest sales volume (over 50%) in 2017, owing to its cost-effectiveness.

Coming to the market growth factors, rising air pollution and government impetus toward curbing it are on the top of the list. In many countries in the region, governments offer people incentives and subsidies to encourage the adoption of electric vehicles, while manufacturers get land at reduced rates to set up production facilities. Further, stringent norms related to vehicular emissions and public campaigns focusing on reducing these are further compelling people to adopt electric vehicles.

The second important factor driving the Asia electric three-wheeler market is cost-effectiveness. Battery-powered three-wheelers run on electricity, which is a lot cheaper than gasoline and natural gas, making them more cost-effective than their fuel-based counterparts. Further, electric three-wheelers have fewer moving parts, hence, the risk of malfunctioning due to breakage is significantly less, which means less maintenance cost. In addition, the prices of lithium-ion (li-ion) batteries have come down considerably in the last few years, bringing down the cost of electric three-wheelers even more.

The cost-effectiveness of li-ion batteries, coupled with its light weight, is expected to boost its penetration into the electric three-wheelers industry in the coming years. Another reason these are predicted to eventually replace sealed lead-acid (SLA) batteries is that the latter can be harmful to humans, if not disposed off properly. In China, the government shut down more than 80% of its SLA battery-manufacturing plants by 2011, further paving the way for li-ion variants to dominate the electric three-wheeler market.

Talking of the regional scenario, China dominated the market during the historical period 2013–2017 in terms of sales volume as well as revenue generation. Reasons for this were the early introduction of such vehicles, abundance of manufacturers and suppliers, and favorable government policies. While China will still be the market leader during the forecast period, India will witness the highest sales and revenue CAGRs, owing to rising pollution levels and government support.

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Therefore, it is clear that as environmental degradation impels governments across APAC to form stricter emission norms and encourage electric vehicle adoption, the market for electric three-wheelers will continue to progress.

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