Driving Demand for Microdisplays Growing due to Rising Penetration of Smartphones

Advanced driver assistance systems (ADAS) are increasingly being integrated in both commercial and passenger vehicles, which can be owing to the rising need for safety on roads. The automotive industry has been focusing widely on enhancing the safety features of vehicles for providing drivers with improved driving experience and making roads safer and more secure. 

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Moreover, governments of several countries have also implemented various policies that mandate vehicles to have certain safety systems. All these factors are leading to the growing adoption of heads-up displays (HUD) for displaying important driving-related information and convenience. HUDs are a product type of microdisplays, which is a display that has a very small screen, usually less than 2 inches diagonal. 

The microdisplay market is expected to generate a revenue of $4.0 billion by 2030, increasing from $1.0 billion in 2019, and is projected to advance at a 13.4% CAGR during the forecast period (2020–2030). In terms of technology, the market is categorized into digital light processing, liquid crystal display, OLED, and liquid crystal on silicon.

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Owing to the growing adoption of these displays, the global microdisplay market is predicted to progress at a considerable rate in the years to come. These days, the utilization of organic light-emitting diode (OLED) microdisplays demand has been growing rapidly as well. These displays are increasingly being utilized in consumer electronics, particularly virtual reality devices, as they have a compact size, high resolution, and better picture quality than traditional display technologies. 

Among all these, the OLED category is projected to advance at the fastest pace during the forecast period. This is owing to the growing utilization of OLED microdisplays in televisions, smartphones, and other consumer appliances. Moreover, the demand for smartphones is surging across the globe, which is further driving the demand for OLED microdisplays.

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COVID-19 Impact Analysis on AI in Healthcare Industry. Insights on Strategies of Key Players

The global AI in healthcare market is expected to observe an extensive growth in the coming years, led by growing need for precision medicine, increasing application of big data in healthcare industry, and rising need for coordination between healthcare workforce and patients. 

Deep learning, natural language processing (NLP), querying method and context aware processing are some of the technologies used for AI in healthcare. The demand for NLP in healthcare has been growing mainly due to rise in unstructured clinical data. Since NLP technology extracts important clinical information from unstructured data and analyze it for enhancing processing and analytics.

The key factors that drive the growth of the industry include rise in need for coordination between healthcare workforce and patients, increasing application of Big Data in healthcare industry, ability of AI to improve patient outcomes, growing demand for precision medicine and increase in venture capital investments.

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With the increasing use of big data in healthcare sector, the vast amount of data can be stored systematically, as big data makes it easier for hospital staff to work efficiently. In order to monitor blood pressure, heartbeat and respiratory rate sensors are used besides patient beds which alert the doctors and hospital staff if any change is observed in the patient condition. Big data also help to fight cancer and mapping the 3 billion DNA base pairs during treatment of cancer. Big data improves hospital administration by reducing the cost of care measurement and provide best clinical support.

North America leads the global market due to presence of major AI providers including Intel Corporation, Google, Inc., IBM Corporation in the region. Other factors leading the market growth include, developed healthcare infrastructure, and growing aging population. Asia-Pacific is expected to witness the fastest growth during the forecast period. Increasing healthcare expenditure, continuously improving healthcare infrastructure due to growing medical tourism and growing aging population are the factors expected to support the growth of the Asia-Pacific AI in healthcare market.

Key players in the global AI in healthcare market include Intel Corporation, IBM Corporation, Microsoft Corporation, Google, Inc., General Electric Company, NVIDIA Corporation, Medtronic Plc, Koninklijke Philips N.V., iCarbonX, Next IT Corp., Welltok, Inc., General Vision, Inc, Recursion Pharmaceuticals, Enlitic, Inc. Stryker Corporation, Deep Genomics, Inc., and Oncora Medical, Inc.

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APAC Low Speed Electric Vehicle Market With the Best Scope, Trends, Benefits, Opportunities to 2025

The Asia-Pacific (APAC) low speed electric vehicle (LSEV) market is predicted to progress at a CAGR of 6.6% from 2018 to 2025 and expand to 71.8 million units in 2025, as per the market research company, P&S Intelligence. The main factors propelling the growth of the market are the rising measures and initiatives being taken by the governments of many APAC countries, the increasing public awareness of environmental degradation caused because of the usage of oil and gas-powered vehicles, and the implementation of strict emission norms in several APAC countries.

A major factor fueling the advancement of the market is the increasing focus of the governments of many APAC nations on reducing their expenditure on crude oil imports. The adoption of LSEVs is one of the best methods for mitigating the costs of crude oil imports. Furthermore, the LSEVs are eco-friendly and have lower operational costs than the conventionally used oil and gas-powered automobiles. Due to these factors, the public transport organizations in the APAC countries are rapidly adopting these vehicles in their transport fleets.

The other key factors boosting the growth of the low speed electric vehicle in apac market are the increasing awareness amongst the public of the environmental degradation caused due to the large-scale utilization of the conventional vehicles and the rapid urbanization in various APAC nations, especially India and China. Furthermore, the governments of APAC nations are providing subsidies, tax rebates, and grants on the purchase of low speed electric vehicles, which is, in turn, causing a rapid expansion of the market.

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Till now, the APAC LSEV market recorded the highest growth, in both volume and value, in China. This is ascribed to the presence of numerous favorable government regulations and policies for the adoption of low speed electric vehicles in the country. Additionally, the soaring urban population and the existence of prominent market players in the country contributed significantly to the surge of the market in the country over the past few years.

Thus, with the growing implementation of favorable government regulations for the sale of electric vehicles and the increasing customer preference for eco-friendly modes of transportation, the market will exhibit stable growth in the future years.

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Rising Demand for GIS solutions in Transportation Sector Driving the GIS Market

Due to the increasing investments being made by various government organizations, surging adoption of cloud technology and usage of spatial data, soaring incorporation of geographic information system (GIS) solutions by enterprises, and growing requirement of GIS-based solutions and systems in location-as-a-service (LaaS) platforms, the global geographic information system (GIS) market is predicted to generate revenue of $25.6 billion in 2030, exhibiting a CAGR of 12.1% from 2020 to 2030. 

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The COVID-19 pandemic has massively accelerated the progress of the GIS market across the globe. This is because of the large-scale adoption of the GIS solutions for mapping the spreading pattern of the infection and implementing adequate preventive and surveillance measures. Furthermore, many government organizations are increasingly utilizing various GIS features such as spatial analysis, mapping, and locating intelligence for mitigating the impact of the COVID-19 disease.

For example, several government agencies such as the National Informatics Center (NIC) and the National Disaster Management Authority (NDMA) have been using various GIS-based solutions such as ArcGIS Pro, ArcGIS Hub, ArcGIS Online, and ArcGIS, developed by Esri Inc. for analyzing the spreading pattern of the infection, identifying the persons coming in contact with infected people, and implementing adequate preventive measures.

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Globally, the Asia-Pacific (APAC) GIS market is predicted to exhibit the fastest expansion between 2020 and 2030. This is credited to the surging requirement of GIS solutions in several developing countries of APAC such as India, China, Malaysia, and Indonesia. Additionally, in China, GIS technology is being rapidly adopted in various smart city development projects, primarily in the development and planning stages. 

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What are Key Factors Responsible for Soaring Demand for Next-Generation Sequencing Technology?

The surging incorporation of next generation sequencing (NGS) technology in biopharmaceutical and pharmaceutical organizations, especially in developed nations, is one of the biggest factors fuelling the demand for this technology across the globe. This is mainly attributed to the increasing incidence of chronic diseases such as autoimmune diseases, cancer, and diabetes and the resultant surge in the requirement of innovative treatment procedures. Additionally, the growing utilization of NGS instruments by pharmaceutical and biopharmaceutical companies for designing therapies for various chronic diseases and genetic disorders is further boosting the demand for this technology all over the world.

The increasing research and development (R&D) activities in several regions including North America and Europe and rapid technological developments in next generation sequencing technology, especially in the developed nations are the other factors fuelling the adoption of this technology around the world. Furthermore, the lower costs of the NGS-based processes as compared to the conventional sequencing methods are contributing significantly toward their growing popularity in several countries. Due to these factors, the global next-generation sequencing market is predicted to exhibit rapid progress in the upcoming years.

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Geographically, “the North American next-generation sequencing market will demonstrate the highest growth in future”, primarily on account of the rapid technological advancements, increasing healthcare spending, growing utilization of NGS systems, and existence of numerous academic and research institutes in the region. However, in spite of these reasons, "the market growth will be faster in Asia-Pacific (APAC) than in North America in the years ahead”, because of the increasing genomics and proteomics-related R&D activities in the region.

Hence, it can be safely said that the demand for NGS technology will rise tremendously all over the world in the years to come, predominantly because of the increasing adoption of this technology in the biopharmaceutical and pharmaceutical companies, healthcare applications, and the surging R&D activities in the field of genetics.

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COVID-19 Impact Analysis on Closed Loop Stepper Motor Market | Insights on Strategies of Key Players

The global closed loop stepper motor market is projected to grow at a CAGR of 6.3% during 2017 – 2023. As per the research, the global closed loop stepper motor market is expected to register a CAGR of 6.3% during 2017 – 2023. Closed loop stepper motors refer to an improved version of the traditional open loop stepper motors, which abolish the constraints and drawbacks of the traditional systems.

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Some of the major end-users of closed loop stepper motors comprise industrial machineries, medical equipment, packaging and labelling, factory automation, textile and robotics, of which industrial machineries have been the largest user, owing to the rapid growth in mechanization and evolution of industry 4.0. Asia-Pacific has been the largest contributor to the global closed loop stepper motor market. 

Major factors propelling the growth of the global closed loop stepper motor market include brisk increase in mechanization, integration of motion control components and standardization of energy efficiency. The anticipated growth in the market is attributable to the surging demand for automation in developing countries such as Japan, China, India and South Korea; among which, Japan contributes the largest to the Asia-Pacific closed loop stepper market, closely followed by China.

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Closed loop steppers incorporate the advantages of servo and traditional stepper motor technologies and offer unique competencies and improvements over both, while at half the cost of a servo system. Some of the major companies operating in the global closed loop stepper motor market include Nippon Pulse Motor Co. Ltd., Schneider Electric SE, ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., Sanyo Denki Co. Ltd.,

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How is Growing Geriatric Population Driving Global Digital Therapeutics Industry?

The number of people aged 60 years or above is increasing day by day. According to the United Nations Department of Economic and Social Affairs report on the worldwide aging population, the global percentage of geriatric population is predicted to reach 21.1% by 2050, increasing from 11.7% in 2017. Moreover, by 2050, the number of old age people is projected to reach about 324 million in India, 437 million in China, 58 million in Brazil, and 107 million in the U.S. by 2050. Due to weakened body functions, aged people are more susceptible to diseases and often need to go checkups in order to maintain their health.

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This however is not always convenient for old people, owing to which, the demand for alternate solutions, such as digital therapeutics is increasing swiftly. Digital therapeutics provide therapeutic interventions, which are driven by enhanced software programs for managing, preventing, or treating diseases, to patients. The technology can be utilized independently or along with devices, medication, or other therapies for optimizing patient care and enhancing health outcomes. Attributed to these factors, the global digital therapeutics market size is expected to advance at a considerable rate in the years to come.

Digital therapeutics, also known as software-as-a-drug, is offered via smart devices in order to boost healthy behaviors. This digital system is cost effective and further has the potential to enhance patient engagement and bring significant positive changes in patient health. Digital therapeutics is majorly prescribed for helping and managing long term conditions, including asthma, insomnia, and diabetes. Because of the advantages of these solutions, governments of several countries are increasingly taking initiatives for reinforcing the implementation and development of digital therapeutics solutions. These solutions particularly aim at patient education improvement skills and self-management for encouraging healthy lifestyle of an individual.

In conclusion, the demand for digital therapeutic solutions is increasing due to the growing geriatric population and rising government initiatives across the globe.

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This study covers

• Historical and the present size of the digital therapeutic market
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

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Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth ofChanges in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Robotic Process Automation Market

The growing digitization has been encouraging enterprises to adopt best practices which provide service in a timely manner and are cost-effective. Virtual workforce aims to automate business processes in order to save both cost and time and thus is a big part of digital transformation. By automating mundane and repetitive tasks, virtual workforce allows employees to focus on tasks that need human intervention for better decision making, which is why its demand is increasing.

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The market is witnessing growth due to the surging demand for virtual workforce, reduction in workforce cost, greater ease of doing business, and decreasing cost of automation software and services. RPA is a technology that helps in configuring computer software for capturing and interpreting existing applications to trigger several responses, process transactions, communicate with other digital systems, and manipulate data.

When process is taken into consideration, the robotic process automation market is categorized into decision support & management, interaction solution, and automated solution. Out of these, the automated solution category dominated the market during the historical period and is projected to hold the largest share of the market during the forecast period as well. This is ascribed to the expansion of banking, financial services, & insurance (BFSI) industry, which has been adopting RPA increasingly in order to enhance efficiency and decrease cost.

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The growing digitization has been encouraging enterprises to adopt best practices which provide service in a timely manner and are cost-effective. Virtual workforce aims to automate business processes in order to save both cost and time and thus is a big part of digital transformation. By automating mundane and repetitive tasks, virtual workforce allows employees to focus on tasks that need human intervention for better decision making, which is why its demand is increasing.

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Reefer Container Market Analysis With the Best Scope, Trends, Benefits, Opportunities to 2030

According to P&S Intelligence, the increase in the number of trade routes would help the global reefer container market grow. In April 2019, the Chongqing municipality in south-western China was linked to Indonesia via a new trade route, which, in September 2019, was connecting 190 ports across 90 nations. Moreover, with Asian countries increasing their influence on worldwide trade, trade routes are expected to get increasingly directed toward this region.          

 In addition, much of the long-distance trade is conducted via ships, which makes the sea the most important trade mode. All these factors are predicted to propel the reefer container market to a volume of 5,981.6 thousand twenty-foot equivalent units (TEU) in 2030, from 2,915.6 thousand TEUs in 2019, at a 7.3% CAGR between 2020 and 2030.

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In the coming years, the highest CAGR in the reefer container market would be witnessed by the Latin America, Middle East, and Africa (LAMEA) region. Within LAMEA, the highest adoption of reefer containers is expected in Brazil, due to the increasing trade of frozen and chilled goods between Brazil and China and India. Moreover, Brazil, which is the most-productive market for logistics in LAMEA, contributed $145 billion to the regional logistics market in 2019.

Due to the COVID-19 outbreak, the reefer container market has been affected in a negative way. Contract, liquidity, labor, and several other issues have caused much economic stress to logistics and shipping companies. Moreover, global trade has declined by around 15%, and employee payments have also ceased or are delayed. With a complete or partial ceasing of trade operations and port closures, the supply chain has been severely hampered, which has further led to a reduced demand for reefer containers.

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The most prominent companies in the global reefer container market are Singamas Container Holdings Ltd., SeaCube Container Leasing Ltd., A.P. Moller - Maersk A/S,China International Marine Containers (Group) Co. Ltd., Triton International Ltd., Seaco Srl,MSC Mediterranean Shipping Company S.A., Ocean Network Express Pte. Ltd., Hapag-Lloyd AG, and ZIM Integrated Shipping Services Ltd.

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Rising Vehicular Safety Regulations to Power Boom in Global Advanced Driver Assistance System (ADAS) Market

Due to the rising demand for safety and comfort features in vehicles, owing to the swift advancements in technology, the demand for advanced driver assistance systems (ADASs) is predicated to boom in the coming years. The rapid advancements in the sensor technology have propelled innovations and developments in electronic equipment, which is promoting the adoption of advanced systems in vehicles, by various manufacturers across the globe. Furthermore, the enhanced comfort and support features provided by ADASs, such as parking aid and cruise control, are further boosting the demand for these systems. 

The mushrooming volume of sales of connected cars across the world, on account of the rapid technological advancements, is another major factor fuelling the growth in the demand for ADAS. Moreover, the rising regulations by various governments, especially the ones in developed countries, aimed at increasing vehicular safety, are further pushing the demand for ADAS. Due to these factors, the global ADAS market is expected to witness a massive increase in its value, not only in developed nations, but the developing ones as well.

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The major components used in ADAS are sensors and systems. Of these, the systems used in ADAS are expected to register faster growth in demand in the coming years. The widely used types of ADASs are pressure monitoring systems (TPMS), intelligent parking assist systems (IPAS), drowsiness monitoring systems, adaptive cruise control systems, lane departure warning systems, blind spot objection detection systems, and adaptive front lighting systems (AFLS). Amongst these, TPMSs are expected to record the highest growth in procurement in the coming years, as their installation has been made mandatory in numerous European countries. 

The global advanced driver assistance system market is currently witnessing a skyrocketing number of collaborations and partnerships amongst major companies, in order to expand their consumer base and geographical footprint and also enhance their product portfolio. For instance, in 2015, Valeo SA signed two agreements with Mobileye NV and Safran SA, with the aim of developing front-facing camera solutions and sensor-fusion-technology-based products, with the help of Mobileye’s EyeO computer vision algorithms and microprocessors, and increasing the development of driving aids for autonomous vehicles.

Due to the increasing urbanization rate, and rising demand for high-end vehicles, due to the surging disposable income of people, the installation of ADAS is expected to grow the quickest in the Asia-Pacific (APAC) region, in the near future. In addition to this, the moderate number of sales of passenger cars in developed countries and the surging demand are expected to further boost the demand for ADAS in this region in the coming years. 

Therefore, due to the increasing demand for high-end vehicles, rapid advancements in technology that are powering the development of connected vehicles, which are equipped with numerous safety features, and rising implementation of vehicular safety laws and regulations by governments across the world, the demand for ADAS is forecast to surge in the coming years.

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How is Increasing Incidence of Cancer Powering Surge of Global Stem Cell Banking Industry?

One of the major factors fuelling the increasing popularity of stem cell banking is the increasing prevalence of chronic diseases such as cancer across the world. As per the World Health Organization (WHO), one of the major causes of mortality and morbidity throughout the world is cancer, with almost 14 million people getting affected by the disease in 2012. Furthermore, the number of new cancer cases is predicted to increase by 70% all around the world in the next two decades.

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Stem cell therapies are being increasingly adopted in many countries, because of their huge success in treating cancer and other types of chronic diseases. Moreover, the rising awareness amongst the people about the need for preserving stem cells will further boost the demand for stem cell banking in future. Due to these factors, the global stem cell banking market is expected to register unprecedented growth during the forecast period (2020—2030). Stem cells are basically, used for generating new cells and tissues for the treatment of various diseases such as Parkinson’s disease, Alzheimer’s disease, arthritis, diabetes, and heart diseases.

Stem cell banking is widely used for the treatment of leukemia, autism, diabetes, thalassemia, and cerebral palsy. Out of these, the prevalence of leukemia is rising at a rapid pace across the world, which is in turn, fuelling the progress of the stem cell banking market all over the world. As per the Leukemia and Lymphoma Society (LLS), which is a voluntary healthcare organization focussing on providing access to blood cancer patients for treatments and funding research activities regarding the same, one person is diagnosed with blood cancer in the U.S. at almost every 3 minutes.

Thus, it can be said with full confidence that the popularity of stem cell banking will surge throughout the world in the forthcoming years, mainly because of the increasing requirement of stem cell therapies for the treatment of various kinds of diseases such as cancer, Parkinson’s disease, and leukemia.

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How are Increasing Healthcare Costs Contributing toward Boom of Global Healthcare Information Technology Integration Market?

The burgeoning need for reducing the overall healthcare costs is one of the major factors responsible for the incorporation of information technology (IT) solutions in the healthcare industry across the world. In many countries around the world, there has been a huge rise in the integration of various IT applications such as internet of things (IoT) in healthcare applications over the last few years in order to mitigate the healthcare costs. In addition to this, the governments in several countries are taking numerous initiatives for promoting the adoption of IT solutions in the healthcare industry.

The exchange of patient information and clinical data amongst the hospitals and their various partners helps in formulating solutions for complex interoperability problems and thus promotes the adoption of IT solutions in the healthcare industry. The increasing demand for incorporating IT in the healthcare applications is another important factor pushing the adoption of IT solutions in healthcare operations. Due to these factors, the global healthcare IT integration market is expected to demonstrate substantial growth during the forecast period (2020—2030).

Geographically, the North America registered the highest adoption of IT solutions in the healthcare industry in the past, due to the presence of favorable reimbursement policies aimed at reducing the healthcare costs in the region, improving healthcare facilities, huge demand for adopting IT in the healthcare system, and the presence of a large geriatric population and a technologically advanced healthcare ecosystem in the region. However, the healthcare IT integration market is expected to grow the fastest in the Asia-Pacific (APAC) region in the years to come.

Hence, it can be said with full confidence that the incorporation of IT solutions will increase considerably in the healthcare industry in the forthcoming years, on account of the rising need for reducing the healthcare costs, increasing demand for advanced systems and facilities in the healthcare industry, and presence of supportive government measures for the integration of IT in the healthcare applications throughout the world.

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Know About Covid-19 Impact on Digital Pen Market | Insights on Size, Share, Demand, Trends & Key Players

Broadly, clinical documentation, education, billing & back office, and communication are the major areas where digital pens find application. In the coming years, their use for clinical documentation purposes is expected to increase the fastest, as the healthcare sector is undergoing rapid digitization. Another sector where the uptake of computers, mobile devices, and digital pens is rising is education. 

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The rapid digitization and expansion of the healthcare industry are two of the reasons the digital pen market growth would be the most significant in Asia-Pacific (APAC) in the coming years. Another reason behind this would be the rising internet penetration in the region; as per the World Bank, the percentage of people with access to the internet in China grew from merely 1.7% in 2000 to 54.3% in 2017. The increase during the same period in India was from 0.5% to 34.45%.

The use of such computing tools for learning not only helps replace the traditional books and notebooks, but also makes the educational content accessible from anywhere, on the internet. Similarly, digital pens are being used on interactive whiteboards, to make learning fun, interesting, and less boring for students. In the same vein, the art and design field is also witnessing a rapid incorporation of these electronic stylus-like objects. 

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These pens let artists create freehand illustrations, which can be edited once on the computer. With digital pens, e-prescriptions can be written, which can be transferred to the patients or pharmacies over the internet, without the need for traveling physically. This not only makes the entire process faster, but also helps save money for healthcare providers as well as patients.

Thus, with a rise in the number of people who can access the internet and spend more on gadgets, the demand for digital pens would keep increasing around the world.

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Car Subscription Market Being Driven by Changing Ownership Patterns

There is no doubt about the fact that vehicles, in fact, the whole transportation system, has made lives of human beings comfortable and easy. While owing a car these days is not a big deal as it used to be a few years ago, some people still cannot afford to buy cars or do not want to go through the hassle of buying a car. Buying a new car doe not just include a simple payment for the automobile, but one needs to think about insurance and other maintenance cost that need to be taken care of later.

The prevalence of cab services, such as Ola and Uber, has considerably made traveling easier for people who do not own a car, but if someone needs to go even further when it comes to travelling with comfort, they can also choose the option of car subscription services. The concept of car subscription is easy enough to understand, the person just needs to pay a fixed amount of sum on a monthly basis, or whatever the subscription model entails, and the service provides access to a car. Car subscription services are flexible than the traditional lease system, as the person can chose a model of their preference, and if need be, swap it for a different one in the future.

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In the past, North America made extensive usage of car subscription services, which is ascribed to the over 10% penetration into the average household incomes in the U.S. Other than this, the requirement for car subscription services is also expected to increase considerably in the Asia-Pacific region in the coming years. The car subscription market in the region is being primarily driven by developing countries, including Australia, China, and India.

Hence, the need for car subscription services is increasing due to the changing ownership patterns.

Some of the private/third party major players operating in the global car subscription market are Zoomcar, Drover, Clutch Technologies, Revv (Primemover Mobility Technologies Pvt. Ltd.), Myles, and InMotion Ventures.

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Over $100,984.5 Million Revenue Expected in Global IoT in Logistics Market by 2030

The mushrooming requirement of higher efficiency in logistics all over the world and the rapid growth of the e-commerce industry are the major factors propelling the advancement of the global internet of things (IoT) in logistics market. Due to these factors, the market is expected to reach a valuation of $100,984.5 million by 2030, progressing at a CAGR of 13.2% between 2020 and 2030.

However, the COVID-19 pandemic has caused severe disruptions in the logistics sector across the world. This is ascribed to the fact that many countries around the world imposed complete lockdowns, including closing off all industrial operations in March 2020 in order to reduce the spread of the infection and enforce isolation and social distancing norms. As a result, there was a huge rise in labor shortage, inconsistent delivery of shipments, and major disruptions in the global supply chain, which, in turn, affected the progress of the IoT in logistics market all over the globe.

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On the basis of application, the market is categorized into inventory tracking and warehousing, location management, blockchain for supply chain management, predictive analytics, fleet management, and self-driving vehicles. Out of these, the blockchain for supply chain management division will progress at the fastest rate in the market in the coming years. This is because of the fact that blockchain has a huge potential of replacing the conventionally used methods in supply chain management that use the distributed ledger technology. The adoption of blockchain technology in logistics sector would significantly improve the logistics operations by making them sustainable and ethical.

Under the vertical segmentation of the IoT in logistics market, the main categories are food and beverage, automotive, real estate, retail, aerospace and defense, oil and gas, and healthcare. Amongst these divisions, the retail one recorded the highest market growth in the last few years. This is ascribed to the huge demand for technological innovations and developments in the logistics services from the e-commerce firms for keeping up with the rising customer demands for e-commerce services and deliveries.

Globally, the IoT in logistics market was dominated by North America during the past several years. This is attributed to the existence of major retail firms in the region such as Amazon.com Inc. and Walmart Inc. and the resultant surge in the demand for efficient and effective logistics solutions and services. However, the market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the future years, on account of the high population levels in various APAC nations such as India and China. These highly populous countries have huge customer bases for logistics solutions and services. In addition to this, the rising disposable income of the people in these countries, on account of the rapid economic growth of these nations, will make the market very lucrative in the APAC region in the upcoming years.

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The major players operating in the IoT in logistics market such as Robert Bosch GmbH, Cisco Systems Inc., Intel Corp., IBM Corp., AT&T Inc., Oracle Corp, Honeywell International Inc., SAP SE, Microsoft Corp., and Qualcomm Inc. are increasingly getting into partnerships with one another for improving and expanding their presence in the market. For example, AT&T Inc and Nokia Corp. started a partnership with each other in November 2019 for developing an innovation studio in Munich, Germany that will support the increasing incorporation of both next-generation and current generation internet of things solutions

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How is Increasing Vehicle Sales Driving Automotive Repair Software Market?

Because of increasing the disposable income, rapid urbanization, swift economic growth in emerging economies, and technological advancements, the number of vehicles on roads has risen significantly on roads all across the globe. For example, approximately 91.3 million motor vehicles were sold worldwide in 2019. Over the last ten years, the affordability of vehicles has increased considerably. 

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Moreover, due to technological advancements autonomous and connected cars have also started emerging in the markets. Owing to this surging number of vehicles on roads, the number of auto repair shops has also taken a hike. The smooth functioning of vehicles depends a lot upon their proper maintenance. If a vehicle is not maintained on a regular basis, it is highly likely that its functioning will take a hit. 

Attributed to these reasons, the global automotive repair software market generated revenue of $1,264.2 million in 2019 and is predicted to advance at a 10.3% CAGR during the forecast period (2020–2030). Maintenance, repair, and service are the major kinds of this software, among which, the demand for repair solutions is expected to be the highest in the coming years. This is because of the increased adoption of auto repair software for automobile repair and diagnostics. 

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Therefore, auto repair shops are of great importance to the automotive industry. Now that the number of vehicles has risen, the operations and processes in these shops have also become more complex. There is a growing need for improving efficiency, which is why several auto repair shops are making use of auto repair software. This software is capable of automating the day-to-day aspects of managing an auto repair shop, thereby simplifying the operational processes.

Hence, These solutions provide valuable insights from colored diagram for wiring, experienced technicians, and repair information provided by the automaker for ease of understanding.

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Over $9.0 Billion Revenue Expected in Global Chiller Market by 2024

Due to the rising temperature, the demand for chillers is expected to surge across the world in the coming years. Since the last few decades, there has been a significant rise in the global temperature on account of global warming. Global warming is mainly caused by the greenhouse gas (GHG) emissions into the atmosphere. According to the National Aeronautics and Space Administration (NASA), the global average temperature increased by almost 0.90 ⁰Celsius from 1951—1980 to 2017. Due to the rising temperatures across the world, the demand for various cooling systems such as chillers will increase tremendously in future.

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The other major factor propelling the demand for chillers is the soaring requirement of cooling equipment in several industrial applications. Chillers are mainly used in industries for the controlled cooling of factory machinery and other products. This equipment is widely used in chemical processing, pharmaceutical formulation, food & beverage processing (including dairies and breweries), power supplies and power generation stations, welding, paper and cement processing, and X-ray diffraction. In the food processing industry, chillers are highly sought after on account of the huge requirement of efficient cooling systems in the various applications and processes of the food processing industry. 

Due to the above-mentioned factors, the revenue generated from the sales of chillers around the world is expected to rise from $7.1 billion to $9.5 billion from 2018 to 2024. The global chiller market is predicted to advance at a CAGR of 4.9% during the forecast period (2019—2024). There are numerous types of chillers used in industries — screw, centrifugal, absorption, reciprocating, and scroll chillers. Amongst these the screw chiller recorded the highest usage in 2018, owing to the huge number of construction projects launched in North America and Asia-Pacific (APAC) in the last few years. 

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The surging adoption of R32 refrigeration is one of the major trends presently being witnessed in the chiller market. The R32 refrigerant is being increasingly used in a plethora of industrial applications on account of its numerous advantages over the conventionally used R22 refrigerant such as its ability to reduce the energy consumption by almost 10% and its ability to convey heat more efficiently. Furthermore, the R32 chillers have much lower Global Warming Potential (GWP) than the R22 and R410A refrigerants-based chillers and thus, emit lower amounts of greenhouse gases into the atmosphere than the other chillers.

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Automotive Cybersecurity Market Share: In-Depth Coverage And Various Important Aspects by 2030

Valued at $1,152.7 million in 2019, the global automotive cybersecurity market is predicted to attain a valuation of $7,280.2 million by 2030, advancing at a CAGR of 18.5% between 2020 and 2030. The main factors fuelling the growth of the market are the incorporation of artificial intelligence (AI) in level 4 and level 5 autonomous cars, integration of advanced safety features in automobiles, and the implementation of mandatory government regulations for the incorporation of safety features in vehicles in several countries around the world.

Based on vehicle type, the automotive cybersecurity market is categorized into commercial vehicles and passenger cars. Of these, the commercial vehicles bifurcation is predicted to register faster growth in the market in the coming years. This is because of the increasing incorporation of cloud-based solutions by vehicle fleet owners across the world. In addition to this, the governments of many countries are enacting strict regulations for the integration of safety features in commercial vehicles, which is, in turn, powering the progress of the category in the market. The adoption of fleet cybersecurity solutions helps the owners in getting real-time information about connected vehicles in the central control unit, which, in turn, assists in organizing and safeguarding various confidential information such as driver data.

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Under the application segmentation of the automotive cybersecurity market, the major categories are infotainment, advanced driver assistance system (ADAS) and safety system, powertrain, telematics, and body electronics. Out of these categories, the infotainment division held the major market share in the past. Apart from providing information, the infotainment systems also provide entertainment content through built-in hardware and software, thereby enhancing the driver and passenger experience. The consumers can pair their smartphones with these systems for accessing the features of the smartphone, which subsequently increases the demand for in-vehicle cybersecurity solutions for various infotainment applications in order to safeguard and protect the passenger data.

Geographically, the automotive cybersecurity market is predicted to exhibit the highest CAGR in the Asia-Pacific (APAC) region in the forthcoming years. The rapid advancement of the market in this region is because of the soaring automotive production and the rising disposable income of people in the various developing nations of APAC such as China and India. Furthermore, the increasing public awareness about the cybersecurity solutions developed by several original equipment manufacturers (OEMs), rapid technological advancements, and enactment of strict government policies regarding data security and vehicular safety are predicted to cause huge expansion of the market in the region in the upcoming years.

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The COVID-19 pandemic has negatively impacted the progress of the global automotive cybersecurity market primarily on account of the imposition of strict lockdowns in several countries and the subsequent disruption in supply chain and logistics, falling imports and exports of goods, declining availability of raw materials, reducing demand for automobiles, shutting down of OEM factories and manufacturing plants, and decreased output.

The major players operating in the automotive cybersecurity market such as Harman International Industries Inc.,Continental AG, Trillium Secure Inc., Vector Informatik GmbH,Visteon Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., Aptiv Plc, DENSO CORPORATION, and Honeywell International Inc. are increasingly focussing on getting into strategic partnerships with each other and mergers for increasing their available resources and technical expertise in order to improve the quality of their product and service offerings.

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E-Mobility Services Market Analysis, Competitive Share and Growth Forecast to 2030

P&S Intelligence cites the rising concerns for the environment and electric vehicles’ (EV) low cost of ownership as the primary reasons behind people shifting to electric mobility. As a result, the global e-mobility services market is projected to witness a massive 40.7% CAGR between 2020 and 2030, to reach $78,898.3 million by 2030.

The COVID-19 epidemic is impacting the e-mobility services market negatively, as the lockdowns initiated in numerous countries have led to almost no demand for public transportation services.

Last-mile connectivity, daily commuting, occasional commuting, and others are the various categories under the commuting pattern segment. Among these, daily commuting is expected to grow the fastest in the coming years, due to the increasing demand for shared mobility services for daily commuting purposes, especially by the younger, college- and office-going population. In addition, several initiatives have been taken around the world to bring down the number of personal vehicles in operation.

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The various categories under the service type category of the e-mobility services market are ride-hailing, two-wheeler sharing,car rental, and carsharing. In the near future, the ride-hailing category would experience the highest CAGR, as numerous ride-hailing giants, including Beijing Xiaoju Technology Co. Ltd. and Uber Technologies Inc., are deploying EVs in their fleets.

Asia-Pacific (APAC) held the largest share in the electric mobility services marketbetween 2014 and 2019, and it will continue doing so throughout the next decade. This is ascribed to government concerns regarding air pollution, rising disposable income, and increasing popularity of the shared mobility concept. Due to the rapid industrialization and urbanization in Japan, China,and India, the pollution level in these countries is rising, creating a need for reducing the emission of greenhouse gases. Due to these reasons, governments are taking numerous initiatives to reduce the vehicle ownership rate, such as reserving road lanes for shared EVs.

To gain a stronger foothold in the electric mobility services market, by targeting a larger user base, companies are launching new services. For instance, Lyft Inc. introduced its e-bikes in California and rebranded its bike-sharing system, Ford GoBike, to Bay Wheels, in June 2019. A new locking system has been provided to help users park the bikes at docking stations and safely lock them.

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In the same vein, in January 2020, EVs were introduced by Grab Holdings Inc. in its GrabCar Electric ride-hailing service, which is available at the Soekarno-Hatta Airport in Indonesia. The fleet, which was electrified with the introduction of 20 Ioniq electric cars manufactured by Hyundai Motor Co., is expected to be expanded to 500 in just one year.

The major global e-mobility services market players are Bird Rides Inc., Neutron Holdings Inc.,Cityscoot SAS, Donkey Republic ApS,Uber Technologies Inc., ANI Technologies Pvt. Ltd.,Grab Holdings Inc., Beijing Xiaoju Technology Co. Ltd.,Enterprise Holdings Inc., and car2go N.A. LLC.

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How is Digital Pathology Important when it comes to Managing Chronic Diseases?

The prevalence of chronic diseases, including cancer, around the world has been increasing rapidly. According to the World Health Organization, cancer is among the leading causes of death, second-leading to be precise, globally, and led to about 8.8 million deaths in 2015. In addition to this, approximately 70% increase is expected to be witnessed in the number of new of cancer cases over the next two years. Like cancer, there are a number of chronic diseases which still cannot be cured and can only be managed with proper medication.

In such cases, early detection of the disease is the key to get effective treatment for the management of the disease. Because of this, the demand for advanced technologies that can provide faster and more accurate and efficient diagnosis is rising. As per a report by P&S Intelligence, the global digital pathology market size is projected to advance at a significant pace in the years to come. The process of digitizing glass slides by making use of a whole slide image scanner for analyzing the digital images by utilizing an image viewer, such as a mobile device or computer monitor, is referred to as digital pathology.

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This can be attributed to the growing burden of chronic diseases, including cancer, hepatitis A and B, and the need for critical monitoring during the treatment for such diseases. This is made possible due to the precise consultations offered by digital pathology services. Other than disease diagnosis, training & education, teleconsultation, and drug discovery are also among the major applications of digital pathology. Among all these, the demand for digital pathology is expected to increase considerably for teleconsultation in the coming years.

The geriatric population especially is widely utilizing teleconsultation services, as they make the management of chronic diseases easy and reduce the number of hospital visits. Other than this, the demand for this technology is also predicted to rise substantially for disease diagnosis in the near future because of the increasing incidence of bacterial and viral diseases. Geographically, North America is predicted to emerge as the largest digital pathology market in the years to come. This is owing to the rising healthcare expenditure and supportive government initiatives about the development of technologically innovative systems in the region.

In conclusion, the demand for digital pathology technology is growing because of the surging prevalence of chronic diseases and increasing geriatric population.

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Business Impacts of COVID-19 on Silicon on Insulator Market | Strategies of Major Industry Competitors

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). On the basis of product, radio-frequency front-end module (RF FEM) is predicted to register the highest CAGR during the forecast period. This is because of the increasing number of 5G development projects in several countries, such as Japan, Qatar, Mexico, the U.S., China, and South Korea.

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On the basis of application, the SOI market was dominated by the automotive sector in 2018. This is primarily attributed to the rising investments by automotive giants such as Bayerische Motoren Werke (BMW) AG, Audi AG, and Robert Bosch GmbH. For example, Audi AG announced that the company is focusing on integrating fully depleted silicon on insulator (FD-SOI) with devices or sensors that will be utilized in autonomous cars. This will result in the growing demand for SOI-based wafers, which will further drive the market.

Other key factors driving the growth of this category include the type’s relatively high performance with the integration of RF functionality and higher cost-efficiency as compared to bulk complementary metal-oxide-semiconductor and fin field-effect transistor. A key trend in the SOI market is the miniaturization of devices and reduction in the cost of manufacturing chipsets for accelerating their adoption. 

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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.

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E-Commerce in Automotive Aftermarket to reach a value of $292.6 Billion by 2030

According to a report by P&S Intelligence, the global e-commerce in automotive aftermarket is predicted to generate a revenue of $292.6 billion by 2030, and is expected to witness a robust growth, of 23.3% CAGR, during the time period 2020–2030. This is due to the rising customer awareness regarding several vehicles parts and their specifications and convenience, growth of the overall automotive aftermarket, increasing number of do-it-yourself (DIY) customers, growth in average age of vehicles, and surging number of road accidents.

On the basis of channel, the e-commerce in automotive aftermarket is divided into direct-to-consumer and third-party retailer, between which, the latter division held the larger share of the market during 2014–2019 and is predicted to account for the highest revenue share in the coming years as well. This can ascribed to the increasing penetration of aftermarket sales operations by e-tailing companies, such as eBay Inc., Amazon.com Inc., and Alibaba Group Holding Ltd.

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In terms of component, the e-commerce in automotive aftermarket is categorized into drive transmission and steering parts, engine parts, equipment, suspension & braking parts, electrical parts, and miscellaneous parts. The equipment category is projected to register the fastest growth in the near future, owing to the growing number of DIY customers in the domain and the increasing requirement for the installation of accessories and parts that are intended to enhance the performance of the vehicles, improve the look, add comfort, and add more functions.

When geographical scenario is considered, the Asia-Pacific (APAC) region accounted for the major revenue share of the e-commerce in automotive aftermarket during 2014–2019, and the region is also projected to witness the highest CAGR in the years to come. This is due to the surging sales of automobiles in developing countries. Moreover, the increase in the gross domestic product and rise in disposable income of people are also leading to the growth of the market in APAC.

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The players operating in the e-commerce in automotive aftermarket are engaging in partnerships with each other for enhancing their presence in the industry. For example, Alibaba Group Holding Ltd. entered into a partnership with FAW Group in January 2020, with the aim of creating next generation intelligent connected vehicles in China. Under the agreement, FAW Group will make use of the former company’s open mobility platform, Banma Network Technology.

The major companies in the e-commerce in automotive aftermarket are Robert Bosch GmbH,DENSO CORP., Delphi Technologies PLC, ZF Friedrichshafen AG,Valeo SA, Continental AG, Amazon.com Inc., HELLA GmbH & Co. KGaA, Meritor Inc., eBay Inc., U.S. Auto Parts Network Inc., AutoZone Inc., Alibaba Group Holding Ltd., BuyAutoParts.com, Advance Auto Parts Inc., and Genuine Parts Co.

 

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What are Key Factors Responsible for Growth of Global Sterilization Equipment and Disinfectants Market?

One of the major factors fuelling the rise in the demand for sterilization equipment and disinfectants is the surging prevalence of chronic diseases and ailments, requiring surgeries, across the world. For instance, cancer kills 9.6 million people and heart diseases 17.9 million each year, according to the World Health Organization (WHO). The geriatric population is growing at a rapid rate in several countries too, and this is leading to a huge rise in preventive screenings, surgeries, and different medical tests. Moreover, there have been major technological advancements in the healthcare sector, which have propelled the volume of surgeries, thereby pushing the demand for sterilization equipment and disinfectants.

The other important factor boosting the demand for such products is the increasing awareness regarding sanitation and hygiene in healthcare settings, such as clinics, clinical laboratories, and hospitals and their important contribution toward preventing the outbreak and spread of diseases in these settings. For instance, the Hospital-Acquired Condition Reduction Program (HACRP) in the U.S has provisions for imposing severe financial penalties on hospitals if they are unable to stop the occurrence and spread of preventable healthcare-related infections, such as central line-associated bloodstream infection (CLABSI) and catheter-associated urinary tract infections (CAUTI).

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Due to the above-mentioned factors, the global sterilization equipment and disinfectants market is expected to witness huge growth in the coming years. Disinfecting agents and sterilization equipment are commonly used in the decontamination process. While sterilization kills microorganisms, such as viruses (such as COVID-19), fungi, spores, and bacteria, disinfectants reduce/eliminate microorganisms and their ability to spread diseases. These equipment and chemicals are widely used in the food & beverage, healthcare, and pharmaceuticals industries for killing disease-spreading microbes and maintaining proper cleanliness and hygiene.

Globally, North America recorded the highest usage of sterilization equipment and disinfectants in the past, mainly due to the presence of well-developed healthcare infrastructure and strict patient safety regulations in the region. The demand for both these types of products is expected to be considerably high in the Asia-Pacific (APAC) region in future, owing to the rising focus toward the prevention of various healthcare-related infections. The increasing need for healthcare services is expected to further boost the growth of the sterilization equipment and disinfectants market in the region in the coming years.

Therefore, it is clear that owing to the increasing awareness regarding hygiene and sanitation in healthcare settings, rising prevalence of chronic diseases, and burgeoning number of surgical procedures, the demand for sterilization equipment and disinfectants will increase at a rapid rate in future.

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Automotive Software Market Analysis, Competitive Share and Growth Forecast to 2030

According to a report by P&S Intelligence, the global automotive software market is predicted to reach a value of $78,894.2 million by 2030, progressing at a 12.4% CAGR during the time period 2020–2030. The market is registering growth due to the rising research and development for autonomous driving, increasing requirement for connected cars, and emergence of innovative user interface technologies. The current COVID-19 outbreak through, is projected to have negative impact on the market, as various manufacturing facilities have been shut down.

When vehicle type is taken into consideration, the automotive software market is divided into commercial vehicle and passenger car. Between these two, the commercial vehicle division is expected to register the higher CAGR in the coming years, which can be attributed to the increasing requirement for telematics solutions and enhanced infotainment features for commercial vehicles.

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Geographically, Asia-Pacific is predicted to dominate the automotive software market in 2030. The demand for autonomous and electric vehicles in the region has been growing significantly, and these vehicles depend largely upon software. The region accounts for the largest share of the global electric vehicles market, with China leading the regional market. About 1.1 million plug-in electric cars were sold in China in 2019.

The major players in the automotive software market include Robert Bosch GmbH,Airbiquity Inc., NXP Semiconductors N.V., Renesas Electronics Corp., Microsoft Corp., BlackBerry Ltd., NVIDIA Corp., Green Hills Software LLC, Continental AG, Alphabet Inc., Intellias Ltd.,CloudMade, Connexion Telematics Ltd., Harman International Industries Inc.,GlobalLogic Inc., KaaIoT Technologies LLC, NORDSYS GmbH, SAP SE, Ignite Ltd., Elektrobit Automotive GmbH, Vector Informatik, Wind River Systems Inc., Apple Inc., Sigma Software Group,RightwareOy, Luxoft Holding Inc., AImotive Ltd.,  Autonet Mobile Inc., KPIT Technologies Ltd., and Saferide Technologies Ltd.

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Know About Covid-19 Impact on Salesforce Services Market | Insights on Size, Share, Demand, Trends & Key Players

In 2019, the global salesforce services market reached $9,124.2 million and is expected to generate $55,307.6 million by 2030, advancing at a 18.9% CAGR during the forecast period (2020–2030). The different services offered by salesforce include execution, system management, and planning. The largest demand was created for system management services in the past due to the rising requirement for salesforce monitoring. The service provides smart alerts to support teams for predicting and preventing major issues related to CRM applications.

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Salesforce is basically a customer relationship management solution (CRM) platform which provides all the departments of an enterprise, including service, commerce, sales, and marketing, a single, shared view of every customer. A number of industries make use of these salesforce services including government, banking, financial services, & insurance (BFSI), retail & e-commerce, healthcare, manufacturing, and information technology & telecom. 

The demand for salesforce services was the highest in the BFSI industry in the past, owing to the fact that the BFSI sector needs to focus on customer engagement through digital applications and improved payment services. In the industry, the services help the insurance agents and bankers by offering a complete 360-degree view of customer data, including service inquiries and accounts, thereby allowing enterprises to make informed decisions.

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In order to achieve this, enterprises are increasingly making use of new technologies such as service cloud, which allows them to automate service processes, find key topics, articles, and experts for supporting agents, and streamlining workflows. Service cloud helps businesses to build one-to-one marketing relationships with every customer, on any device, and across multiple channels. The integration of service cloud with salesforce further aids in improving the customer management.

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