Rising Home Ownership Driving Worldwide Sales of Mattresses

The soaring home ownership rate in several countries, on account of the growing disposable income of people and the implementation of favorable government laws regarding home ownership, is causing a sharp surge in the sales of mattresses across the globe. As per the Organization for Economic Co-operation and Development (OECD), housing has become highly affordable in many countries, mainly because of the rise in the average annual growth rate of the disposable income of people.

The organization also found that the disposable income of people is registering an average annual growth rate of more than 2%. Additionally, the enactment of favorable policies in the real estate sector by the various governments is also pushing up the global home ownership rates. The Chinese government’s joint ownership housing scheme, the Indian government’s ‘Housing for All’ scheme, and the British Government’s affordable home ownership program are some of the laws that are fueling the surge in home ownership.

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Apart from the aforementioned factors, the growing migration of people from rural areas to urban centers, especially in the Middle East and Asia-Pacific (APAC) regions, is also propelling the demand for housing. This is, in turn, pushing up the requirement for mattresses.  As per the World Urbanization Prospects report published by the United Nations, nearly 54% of the people all over the world lived in urban areas in 2014 and this share would rise to almost 66% in 2050.

Hence, with the rising migration of people to cities and towns, the home ownership rates would boom. This would, in turn, cause the advancement of the global mattress market. The revenue of the market is predicted to surge from $31.1 billion to $38.9 billion from 2017 to 2023. Moreover, the market would exhibit a CAGR of 3.8% from 2018 to 2023. Between the organic and chemicals-based mattresses, the sales of the former will be higher in the future.

This would be a result of the growing public awareness about the harmful effects of chemicals-based mattresses. Among organic mattresses, the demand for latex mattresses is predicted to rise significantly in the coming years. Depending on end-use, the mattress market is divided into residential and commercial categories. Of these, the commercial category recorded higher growth in the market in the past years. This is because of the frequent changing of mattresses and other bedding products in hotels.

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Geographically, the North American mattress market was very prosperous in the years gone by and this trend will continue in the coming years as well, as per the estimates of the market research firm, P&S Intelligence. The surging disposable income of people in Canada and the U.S. would propel the sales of mattresses in the region in the future years. Besides this, the rapid construction of hotels in the U.S. is also pushing up the sales of mattresses.

Thus, it is safe to say that the demand for mattresses would skyrocket all over the world in the near future, mainly because of the rising home ownership rates and the increasing tourism activities around the world.

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How is rising Penetration of Smartphones Driving AR and VR Market?

The global augmented reality (AR) and virtual reality (VR) market is projected to account for a revenue of $1,274.4 billion in 2030, rising from $37.0 billion in 2019, progressing at a robust CAGR of 42.9% during the forecast period (2020–2030). The rising penetration of smartphones and tablet computers, increasing technology adoption among enterprises, and surging focus of vendors on price reduction are the key factors leading to the growth of the market. Between AR and VR, the VR division accounted for the major share of the market in 2019.

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The application of VR is rising in several industries, majorly gaming, and the prices of VR are declining, thereby leading to the increasing adoption of the technology. VR provided an immersive experience to consumers, which is why, companies in the gaming industry are incorporating these features into their services and products. The AR category is predicted to grow at a faster pace during the forecast period, owing to the various benefits offered by the technology. 

On the basis of application, the AR and VR market is divided into enterprise, commercial, and consumer, out of which, the consumer division is predicted to hold the major share of the market in 2030. The rising awareness regarding AR and VR is the major reason for the growth of this division. The number of gamers across the globe is expected to rise in the coming years, which is projected to drive the demand for immersive and interactive gaming.

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Geographically, the AR and VR market was dominated by North America during the historical period (2014–2019) and is predicted to hold the major share of the market during the forecast period as well. Within the region, the U.S. is leading the domain, owing to the presence of major companies in the country. In addition to this, the rising application of VR and AR in the healthcare and e-commerce sectors is also driving the growth of the regional domain.

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How is the Expanding E-Commerce Industry Contributing to Growing Demand for Seasonings and Spices?

The preference of consumers has changed radically since the past few years. A major reason for this is globalization, owing to which, different cultures are now being celebrated all across the globe. This includes the changing eating habits of people, as now consumers are open to experimentation and are increasingly trying new flavors and tastes. Recently Mexican, Chinese, and Continental cuisines have become increasingly popular all across the globe. These cuisine make extensive usage of different kinds of spices and seasoning, because of which, the demand for these products is growing rapidly all across the globe.

The global seasonings and spices market is projected to generate a revenue of $30.4 billion by 2023, increasing from $21.5 billion in 2017, and is predicted to progress at a 6.0% CAGR during the forecast period (2018–2023). The market is bifurcated into whole and ground in terms of product, between which, the whole bifurcation accounted for the larger share of the market in 2017. This is due to the fact that whole seasonings and spices are utilized in both residential and industrial sectors. The bifurcation is further divided into ginger, aniseed, saffron, chili flakes/pepper, vanilla, chives, tarragon, cinnamon, thyme, cumin, rosemary, dill, sesame, fennel, blue poppy seeds, and white poppy seeds.

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As per a report by P&S Intelligence, the Asia-Pacific region dominated the seasoning and spices market, both in terms of volume and value, in 2017. This is primarily due to the surging population in countries such as India and China, which is creating high demand for these products. India is the second-most populated country and the largest consumer of spices and seasonings across the globe. The demand for these products is also expected to increase significantly in North America and Europe in the coming years, as the consumption of various spices in these regions has increased considerably in recent times.

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In conclusion, the demand for seasonings and spices is increasing because of the expanding e-commerce sector and changing food habits of people around the world.

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How are Government Policies Driving the Demand for Electric Trucks?

As the air pollutions levels around the world are increasing, governments of various countries are imposing various policies and taking initiatives for reducing carbon dioxide emissions. The transportation industry is among the key contributors to the growing greenhouse gas emissions, most of the steps are taken in regard of vehicles, for example, the introduction of electric vehicles. Approximately, 200 cities in the European region have low-emission zones and access regulations, with Italy, Germany, and the U.K. at top, at the present time. Due to this kind of regulatory pressure, the sales of electric vehicles have risen significantly over the past few years.

Owing to all these factors, the demand for electric trucks is also expected to increase considerably in the near future. According to a report by P&S Intelligence, the global electric truck market revenue is predicted to reach 1,508.1 thousand units by 2025 and is expected to progress at an 18.5% CAGR during the forecast period. Electric trucks are of different types in terms of propulsion, namely fuel cell electric vehicles, battery electric vehicles (BEV), plug-in hybrid electric vehicles, and hybrid electric vehicles, among which, the demand for BEVs is projected to rise substantially in the coming years.

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Geographically, the Asia-Pacific region has emerged as the largest electric truck market in the past and is further is expected to create the largest demand for these trucks in the near future as well. As is the case with most electric vehicles’ domain, China has been creating the largest demand for electric trucks within the region. This can be owing to the national alternative-fuel-vehicle replacement sales target, favorable government subsidies, and municipal air quality targets. Other than this, the demand for electric trucks is also expected to rise in other regions as well in the coming years because of heavy investments by manufacturers.

In conclusion, the demand for electric trucks has been increasing due to government efforts for decreasing carbon dioxide emissions.  

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Increasing Popularity of Ready-To-Eat Foods Fueling Demand for Cold Chain Logistics

Cold chain has been an integral component of logistics since the late 18th century when ice was used for preserving temperature-sensitive and perishable products such as dairy products, fish, and meat during transportation from one place to another. With rapid technological advancements in the following decades, cold chain logistics witnessed a drastic evolution. At present, cold chain logistics includes exclusively built cold storage facilities, cooling equipment, cold processing, cold transport, and cold distribution. 

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This rapid transformation in cold chain logistics made the transportation of perishables and temperature-sensitive products over large distances possible. This, in turn, fueled large-scale commercial activities involving these products, which subsequently caused the expansion of the global cold chain market. Moreover, with the growing popularity of ready-to-eat food items, especially in the developing countries such as India, Brazil, and China, the industry will exhibit rapid progress in the coming years. 

The other major factor propelling the demand for cold chain logistics is the rising consumption of processed food items and fast foods, especially in the emerging economies, mainly because of the surging disposable income of the people residing in these countries. Besides this, the increasing popularity of the ‘eating out’ culture and the development of numerous hypermarkets, supermarkets, quick service restaurants (QSRs), and fast-food chains in these countries are also driving the expansion of the cold chain market. 

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Bakery & confectionery, meat & seafood, dairy & frozen desserts, biopharmaceuticals, sauces, and fruits & vegetables are the main categories under the application segment of the market. Out of these, the meat & seafood category recorded the highest growth in the market in the years gone by, as per the findings of the market research company, P&S Intelligence. This was because of the huge demand for proper cold storage facilities for meat and seafood in several countries around the world.

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Rising Demand for Energy-Efficient Lighting Solutions is Leading the Smart Lighting Market Growth

As per a study conducted by P&S Intelligence, the global smart lighting market is expected to generate a revenue of $27,064 million by 2024, and is predicted to advance at a 20.0% CAGR during the forecast period (2017–2023). The market is witnessing growth because of the increasing adoption of innovative technologies, including intelligent sensing and internet of things (IoT) in lighting solutions, rising need for energy-efficient lighting solutions, owing to the growing awareness regarding energy conservation, swift commercialization of the Wi-Fi technology, and gradual replacement of incandescent lamps with light-emitting diodes (LED). 

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Smart cities make use of embedded sensors and devices at a number of places, such as streets and traffic signals, and the utilization of smart devices can aid in reducing the energy consumption. Moreover, smart city plans rely on open connected technology infrastructure and need the streamlining of operations for energy conservation. Smart lighting creates a powerful sensing network, through a multi-node and connected node, and collects information regarding the city’s development. 

This is resulting in the growth of the smart lighting market. A major driving factor the market is the growing utilization of energy-efficient lighting solutions. The surging demand for energy, owing to the rapidly increasing population, has resulted in the rise in electricity cost and growing government concerns regarding climate change. Since energy-efficient lighting solutions can save energy and reduce operating costs, their demand has been increasing swiftly. 

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Smart lighting systems are integrated with a number of sensors and wireless technologies and are capable of decreasing the energy consumption significantly. In terms of source, the smart lighting market is categorized into LED, high intensity discharge lamp, and fluorescent lamp, among which, the LED accounted for the major share of the market in 2016 and is further predicted to advance at the fastest pace during the forecast period.

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What Makes Kick Scooter Sharing Service an Ideal Option for Tourists?

The adoption of ride sharing services has risen significantly in the past few years. As people across the globe are becoming more reluctant to buy private vehicles, owing to their high maintenance cost and negative effects on the environment, the demand for public mobility services has been rising. Mobility services, such as ride hailing and car sharing, provide customers with convenient mobility services at low prices. These services, however, have not been able to solve the problem of first and last mile connectivity. 

Attributed to this, the global kick scooter sharing market is expected to advance at a significant pace during the forecast period. Kick scooter sharing services aids in covering the gap of first and last mile by offering mobility services for shorter distances, less than 5 km per trip. These mobility solutions further provide convenience to consumers by offering station-less or dock-less model, thereby allowing users to drop the vehicles at any place.

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The kick scooter sharing market valued $143.4 million in 2018, and it is set to garner revenue of $4,090.5 million by 2025, progressing at a 51.3% CAGR during the forecast period (2019–2025). When model is taken into account, the market is bifurcated into first- and last-mile and multimodal models. Between the two, the first and last-mile division held the larger share of the market during the historical period (2017–2018). 

Geographically, North America held the largest kick scooter sharing market share in 2018. After the introduction of these services in the region in the latter half of 2017, companies started to penetrate the regional domain highly. The result of this was the availability of about 85,000 kick scooters by the end of 2018 in the region. Europe is predicted to advance at the fastest pace during the forecast period, owing to the swift entry of major players.

In conclusion, the market is growing due to the need for convenient first and last-mile commuting and rising adoption of kick scooter among the younger generation.

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Commercial Refrigeration Equipment Market to Witness Massive Growth Due to Growing Demand for Ready-to-Eat Products

The rapid development of such food outlets and the upgradation of small restaurants and grocery stores are bolstering the sales of commercial refrigeration systems as these systems are heavily required in these stores. Furthermore, the development of organized food retail chains and the growing popularity of e-commerce are boosting the need for food storage, which is, in turn, fueling the usage of large refrigeration systems. 

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The increasing population in several countries is massively propelling the demand for food products, which is subsequently leading to a sharp rise in the sales of refrigeration systems across the world. Because of the above-mentioned reasons, the global commercial refrigeration equipment market is predicted to register explosive growth in the future years. 

Walk-in coolers, beverage refrigeration equipment, ice merchandisers and ice vending equipment, and display showcases are the most widely used types of refrigeration systems around the world. Amongst these, the sales of the walk-in coolers were recorded to be very high during the last few years. This is ascribed to the burgeoning customer requirement for walk-in coolers. 

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Moreover, the walk-in coolers manufacturing companies are increasingly focusing on R&D (research and development) activities for developing refrigerants having low-global-warming-potential (GWP). The major application areas of the refrigeration systems are the food and beverage production, food and beverage retail, and food service. Out of these, the utilization of these equipment is predicted to be the highest in the food service applications in the coming years. 

This is credited to the rapid growth of the global tourism industry, increasing number of food outlets and restaurant chains, and the rising government support in many countries for the adoption of sustainable refrigeration solutions in hotels, restaurants, educational institutions, fast food chains, and hospitals.

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Legalization of Cannabis to Boost Cannabidiol (CBD) Oil Sales in Future

With its plethora of health benefits and close association with cannabis or marijuana, as it is popularly known, cannabidiol (CBD) oil is one such controversial substance that makes doctors and medical researchers come face to face with the conservative figureheads of the society. However, with growing public awareness and government support, the stigma associated with CBD oil is rapidly going away and the product is finding more and more consumers all over the world.

In the recent times, many countries such as the U.S. and Canada have legalized the usage of the compound and in the coming years, many more will follow. Several countries in Asa-Pacific (APAC), Europe, and Latin America (LATAM) such as the U.K., Norway, Spain, South Korea, Thailand, Japan, Mexico, South Africa, and Brazil have followed the U.S. and Canada and allowed the complete or partial sale of various cannabidiol-containing items in the last few years.

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The ballooning usage of cannabidiol oil in several countries is causing the advancement of the global cannabidiol (CBD) oil market. As a result, the market attained a revenue of $1,735.1 million in 2019 and is predicted to progress at a CAGR of 24.3% between 2020 and 2025. Cannabidiol is one of the more than 100 chemical compounds found in the marijuana or cannabis plant. It’s a cannabinoid or a non-psychoactive chemical, which has been extracted from the cannabis plant.

Depending on product, the CBD oil market is categorized into cartridges, capsules, topicals, and tinctures. Out of these, the tinctures category is predicted to demonstrate the fastest growth in the market in the forthcoming years, on account of the rising requirement for medical-use cannabidiol for treating patients diagnosed with anxiety, pain, movement disorders, and depression. Moreover, these products are widely available through various distribution channels such as e-commerce websites, specialty and retail stores, and pharmacies.

According to P&S Intelligence, a market research firm based in India, the North American CBD oil market will exhibit the highest growth during the coming years. The large-scale utilization of the compound in the U.S. and the presence of several companies such as Aroura Cannabis Inc.,Tilray Inc., and Medical Marijuana Inc. who are investing in the cultivation, storage, and distribution of cannabis in the U.S. are the major factors causing the boom of the market in this region.

Hence, it can be said without any doubt that the sales of CBD oil will surge all over the world and especially in North America in the upcoming years, owing to the rising cultivation of cannabis and the increasing usage of CBD oil for treating various medical conditions and ailments in many countries across the world.

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Consumption of Omega-3 Set to Surge in Future

The growing incidence of chronic diseases is a major factor responsible for the surging demand for various supplements and functional food items such as omega-3. The high occurrence rate of chronic diseases is affecting the people of both low- and middle-income countries (LMICs) and high-income nations. “According to the World Health Organization (WHO), 9.6 million people died of cancers in 2018 and out of which around 70% were reported in LMICs”. Further, the increasing prevalence of heart disorders in several countries, especially developed nations, is boosting the requirement of heart-healthy food supplements such as omega-3 fatty acids.

Omega-3 supplements play a major role in protecting the body against various diseases and disorders such as asthma, rheumatoid arthritis, depression, and cardiovascular diseases. Besides this, it has also been found through various studies and surveys that omega-3 fatty acids help in slowing down cognitive decline. Furthermore, omega-3 acids contain docosahexaenoic acid (DHA) and are thus, highly essential for pregnant women and breastfeeding mothers. Additionally, the increasing public awareness of healthy foods is boosting the requirement of omega-3 supplements across the globe. As these fatty acids are not synthesized in the body, they need to be obtained through the diet.

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Hence, with the growing consumption of omega-3 supplements, the global omega-3 market will grow, in value, from $19.7 billion to $49.7 billion from 2019 to 2030, advancing at a CAGR of 8.8% from 2020 to 2030. Depending on source, the market is categorized into animals and plants. Of these, the animals category will hold a higher market share in the future years. This is ascribed to the fact that the EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), found in animal-based omega-3, are required by the human body in significantly larger amounts than the ALA (alpha-linolenic acid) found in plant-based omega-3.

In the future years, the Asia-Pacific (APAC) omega-3 market will exhibit the highest and the fastest growth in the world, as per the calculations of P&S Intelligence, a market research company based in India. This is attributed to the growing requirement of omega-3 supplements and other products in the various APAC nations such as India, Australia, and China. In addition to this, the ballooning utilization of fish oil in food items and the mushrooming public awareness of health and wellness will push up the sales of omega-3 food items in the region in the forthcoming years.

Hence, it can be said with confidence that the sales of omega-3 food products will boom all over the world in the upcoming years, primarily due to the growing requirement of omega-3 supplements and capsules, mainly because of their numerous health benefits, especially with respect to the heart, in several countries around the world. 

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Ambient Lighting Solutions Becoming Popular as Smart Lighting Solutions

The global ambient lighting market is expected to generate a revenue of $156.5 billion by 2030, increasing from $60.8 billion in 2019, advancing at a 9.2% CAGR during the forecast period (2020–2030). On the basis of type, the market is divided into surface-mounted lights, suspended lights, strip lights, recessed lights, and track lights. The recessed lights division held the major share of the market in 2019. 

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These lights can be utilized for an extensive range of settings, such as commercial and residential. Recessed lights further improve the quality of lighting and provide better feel and look to the space. In terms of end user, the market is categorized into automotive, residential, corporate, industrial, healthcare, and hospitality & retail, out of which, the automotive category is predicted to register the faster growth during the forecast period. 

The adoption of interior lighting solutions in vehicles has risen significantly, along with which, the production of vehicles has grown substantially as well, thereby driving the demand for ambient lighting solutions in the automotive industry. The Asia-Pacific (APAC) region dominated the ambient lighting market in 2019, and the region is further predicted to account for the largest share of the market during the forecast period, as per a report by P&S Intelligence. 

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The adoption of ambient lighting is increasing the commercial and residential in APAC, owing to the increasing disposable income, rising population, and expanding IT market. Within the region, India is predicted advance at the fastest pace. In conclusion, the increasing focus on energy efficiency and stringent government regulations are resulting in the growth of the market.

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Automotive HMI Industry Future Trends, Prominent Players, Industry Impact and Forecast by 2030

The global automotive human-machine-interface (HMI) market generated a revenue of $18,822.3 million in 2019 and is predicted to attain a value of $55,318.4 million in 2030, advancing at a CAGR of 10.8% between 2020 and 2030. The key factors augmenting the growth of the market are the rapid advancements in IoT, virtual reality (VR), and augmented reality (AR), and connectivity technologies, their increasing integration in HMI solutions, and the rapid digitization in vehicles.

The soaring disposable income of people and the rising sales of premium vehicles are the other major factors fueling the expansion of the automotive HMI market across the globe. Another key factor causing the surge of the market is the increasing incorporation of safety features in automobiles all over the world. This is mainly because of the rising prevalence of road accidents in several countries, because of various human errors.

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These displays project essential information and stats such as system warnings, multimedia information, and driving status on the windshield of the car, which improves the overall safety of the vehicle and enhances the driving experience. Geographically, the Asia-Pacific (APAC) automotive HMI market generated the highest revenue in the years gone by. Further, the market will exhibit the highest CAGR in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India.

The main factor driving the expansion of the automotive HMI market in the APAC region is the rising requirement for passenger cars in the APAC countries. The surging disposable income of people, on account of the rapid economic growth of these countries, is increasing their purchasing power, which is, in turn, boosting the sales of automobiles in these countries. Due to these reasons, the market will grow at an explosive pace in this region in the upcoming years.

Hence, it can be said with certainty that the market will prosper all over the world in the forthcoming years, on account of the rising incorporation of safety systems in vehicles and the increasing consumer preference for premium vehicles equipped with advanced safety features and other technologies over the conventionally used cars.

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Why is Customer Satisfaction Important and how can Speech Analytics Aid in improving it?

Businesses these days are focusing intently on satisfying their customers, since customers these days are not really loyal to a single brand. They have a large number of options to choose from, which is why, the burden on companies has risen increasingly. They need to incorporate customer satisfaction strategies into their marketing campaigns, otherwise, customer retention would become hard. Therefore, in order to enhance customer experience, improve customer retention, sales, and new customer acquisition, companies are widely making use of speech analytics. 

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The process of analyzing live customer calls to contact centers and voice recordings through speech recognition software for finding useful information and providing quality assurance is referred to as speech analytics. The technology analyzes audio patterns and identifies words for detecting emotions and stress in the voice of the speaker. The wide utilization of this technology is predicted to result in the growth of the speech analytics market in the years to come. 

The global speech analytics market is predicted to attain a value of $2,910.1 million by 2024, increasing from $1,010.4 million in 2018, progressing at a 19.9% CAGR during the forecast period (2019–2024). When offering is taken into consideration, the market is divided into service and solution, between which, the solution division accounted for the major share of the market in 2018. A large number of industries are adopting speech analytics solutions for providing customers with improved service and monitoring agents’ performances. 

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The demand for the speech analytics technology is particularly rising from SMEs. The number of such companies has risen widely across the globe since the past few years and they are increasingly making use of new and advanced technologies to get ahead in the market. Speech analytics technology can significantly aid SME when it comes to expanding their shares and product portfolios. Furthermore, SMEs are also adopting speech analytics for retaining their consumer base and improving their customer services. 

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Acoustic Vehicle Alerting System Market to be over $10,578.8 Million Investment Opportunity by 2030

The global acoustic vehicle alerting system market is predicted to advance at 11.9% CAGR from 2020 to 2030 and reach a valuation of $10,578.8 million by 2030. This would be because of the rising incorporation of acoustic vehicle alerting systems (AVAS) in electric vehicles including both passenger cars and two-wheelers. According to the findings of P&S Intelligence, a market research company based in India, as many as 24.7 million units of such systems were installed in electric vehicles in 2019.

The increasing pollution levels in several countries, rising consumer preference for electric vehicles over the fossil fuel-powered automobiles, surging implementation of strict emission norms and regulations, and the provision of subsidies, grants, and tax rebates by the governments of various countries on electric vehicles are the main factors propelling the acoustic vehicle alerting system market growth across the globe. Additionally, the incorporation of AVAS is increasingly being made necessary in EVs for enhancing pedestrian safety.

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Globally, the acoustic vehicle alerting system market is predicted to register the highest growth in the Asia-Pacific (APAC) region in the future years. This is because of the mushrooming sales of EVs in China, which is home to the largest EV industry in the world with sales of over 90% of the total electric two-wheeler sales (15 million units of scooter, motorbike, and moped) and nearly 50% of the total electric car sales all over the globe in 2019.

Hence, it can be said with full surety that the market would demonstrate explosive growth throughout the world in the upcoming years, mainly because of the growing adoption of electric vehicles and the rising enactment of government regulations all around the world that mandate the incorporation of AVAS in electric vehicles.

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What Advantages of Hybrid Cloud are leading to Growth of DWaaS Market?

The global data warehouse as a service (DWaaS) market is expected to generate a revenue of $23.8 billion by 2030, increasing from $1.4 billion in 2019, registering a strong growth of 29.2% during the forecast period (2020–2030), according to a report by P&S Intelligence. The major factors leading to the growth of the market are the swift adoption of cloud-based solutions and increasing focus on real-time data analysis. In terms of tool, the market is divided into visualization, data mining, analytics, and reporting. 

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Out of these, the analytics division is predicted to witness the fastest growth during the forecast period, owing to the increasing investments in AI and data analytics. The penetration if these technologies is growing due to the fact that companies are looking for predicting consumer behavior and preference for offering them with enhanced experience. The reporting division held the major share of the market in 2019. 

In terms of industry, the DWaaS market is categorized into IT & telecom, BFSI, manufacturing, retail & e-commerce, government, and healthcare, out of which, the retail & e-commerce industry is projected to register the highest CAGR during the forecast period. The online retail sector is expanding rapidly all around the world and enterprises are widely adopting AI for predicting consumer behavior through data analytics. The BFSI industry accounted for the largest share of the market in the past. 

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Geographically, North America dominated the DWaaS market in 2019 and is further expected to account for the major share of the market during the forecast period as well. The increasing use of data analytics in healthcare, BFSI, government, and retail and e-commerce industries and rising demand for personalized services from consumers are driving the growth of the regional market. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rising adoption of cloud-based data warehousing solutions by financial institutions, banks, and insurance companies in the region.

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German Autonomous Vehicles Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

The German fully autonomous vehicles market is predicted to exhibit a CAGR of 20.2% between 2020 and 2030 andattain a valuation of $28.0 billion by 2030, as per the estimates of P&S Intelligence, a market research firm. The German autonomous vehicles market size is being driven by the increasing implementation of various government initiatives that encourage the deployment of autonomous vehicles in the country and the rising requirement for a more efficient and safer driving option all over the country.

The German government was the first one in the entire world to authorize fully and semi-autonomous driving systems. The government announced its plans to build autonomous driving facilities and infrastructure in the country in December 2016. This was followed by an amendment to the Road Traffic Act in June 2017, which allowed drivers to give away driving controls to autonomous vehicles. As a result, there are many semi-autonomous automobiles (level 1—3) running on German roads today.

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When vehicle autonomy is taken into consideration, the German autonomous vehicles market is divided into fully autonomous and semi-autonomous vehicles. Of these, the semi-autonomous vehicles had 100% share in the market in the years gone by. However, this will change in the future and the fully autonomous vehicles category will register the highest CAGR in the market between 2023 and 2030, owing to the development of fully autonomous vehicles, which are predicted to hit the market in 2023.

The German autonomous vehicles market is also divided, depending on application, into ride hailing, motor coaches, personal cars, transit buses, and logistics. Out of these, the motor coaches category is predicted to exhibit the highest CAGR in the market in the coming years. This would be because of the rising popularity of shared autonomous vehicles all over the country, on account of the growing consumer preference for these services over the personal ownership of vehicles.

Hence, it can be concluded that the market would demonstrate rapid expansion in the future years, primarily because of the rising implementation of initiatives by the government that support the deployment of autonomous vehicles and the growing consumer demand for safer and more efficient vehicles in the country.

 

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Deep Learning Market | Analysis, Post Covid-19 Impact | Potential Business Impacts for Key Players

The deep learning technology massively reduces the problem resolution time in contact centers by efficiently routing the calls, depending on their nature, to the concerned people who have the required technical expertise and know-how to solve the query. Apart from significantly boosting the revenue of contact centers, deep learning algorithms also help businesses reduce their operational costs. This is another key factor fueling the progress of the deep learning market across the globe.

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The market is classified, on the basis of component, into software, hardware, and service. Amongst these, the hardware category recorded considerably high revenue growth in the deep learning market during the past few years, due to the large-scale adoption of hardware such as storage devices and graphics processing units that assist in storing huge volumes of data for deep neural networks and training various deep learning models. In the future, the software category will exhibit rapid growth in the market.

Depending on application, the deep learning market is categorized into natural language processing (NLP), signal recognition, image recognition, data mining, and recommendation engine. Out of these, the natural language processing category will register rapid growth in the market in the coming years, because of the growing requirement for integrating NLP and deep learning for enhancing machine-human interactions. The adoption of deep learning algorithms in NLP greatly improves the customer query understanding ability of voice assistants and chatbots.

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As a result, the voice assistants and chatbots can resolve the queries more efficiently without any human intervention, which, in turn, enhances the customer experience. Globally, the deep learning market is predicted to register substantial growth in Europe and North America in the upcoming years, primarily because of the rapid technological advancements, soaring investments being made in AI-based solutions by many European governments, and the existence of numerous deep learning solutions providing companies in the regional countries.

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Ambient Lighting Market Outlook By Share, Demand Status Of Type, Applications And Future Forecast

The global ambient lighting market is expected to generate a revenue of $156.5 billion by 2030, increasing from $60.8 billion in 2019, advancing at a 9.2% CAGR during the forecast period (2020–2030). On the basis of type, the market is divided into surface-mounted lights, suspended lights, strip lights, recessed lights, and track lights. The recessed lights division held the major share of the market in 2019. These lights can be utilized for an extensive range of settings, such as commercial and residential. Recessed lights further improve the quality of lighting and provide better feel and look to the space. 

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In terms of end user, the market is categorized into automotive, residential, corporate, industrial, healthcare, and hospitality & retail, out of which, the automotive category is predicted to register the faster growth during the forecast period. The adoption of interior lighting solutions in vehicles has risen significantly, along with which, the production of vehicles has grown substantially as well, thereby driving the demand for ambient lighting solutions in the automotive industry. 

In addition to this, the emergence of the Industry 4.0 and growing penetration of IoT in home solutions these days is also leading to the growing demand for smart ambient lighting solutions. Since energy conservation and connected domestic devices have become an important aspect of lifestyle these days, due to which, manufacturers are introducing solutions which utilize latest technologies for enhancing performance, functionality, and aesthetics. 

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The Asia-Pacific (APAC) region dominated the ambient lighting market in 2019, and the region is further predicted to account for the largest share of the market during the forecast period, as per a report by P&S Intelligence. The adoption of ambient lighting is increasing the commercial and residential in APAC, owing to the increasing disposable income, rising population, and expanding IT market. Within the region, India is predicted advance at the fastest pace.

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Shavers Market In-depth Analysis of the Industry with Future Estimations | P&S Intelligence

The focus on physical appearance has increased considerably these days. People are becoming more and more conscious by the passing day regarding different fashion trends, which themselves keep changing regularly. The increased penetration of social media platforms in both developing and developed countries can be said to be a major reason when it comes to this shift in the perception of people. Body image is regarded with importance on such platforms, due to which, the general public is now also becoming influenced. These factors have led to a rising demand for personal grooming products, including shavers, across the globe.

The shavers market has further been witnessing growth due to the fact that a large number of females have also started making use of these products. Gender constraints of the society have been rather hard on females, owing to which, they are expected to maintain a certain level of physical hygiene. The situation has changes radically of course these day, however, some notions, like having hairless and smooth skin are still persisting. Since shaving is pain free and provide instant results, various women have started opting for shavers rather than waxing.

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On the basis of distribution channel, the shavers market is divided into online retailing, supermarket & hypermarkets, and others (including department stores, drugstores, and beauty specialists). Out of these, the supermarkets & hypermarkets division dominated the market historically, which can be attributed to the offers and discounts that are provided by such stores. Geographically, the European region has been creating the largest demand for shavers up till now; however,as per a study conducted by P&S Intelligence, the demand for these products is also expected to increase in Asia-Pacific as well in the coming years. This is due to the rising disposable income and enhancing living standards of people in the region.

In conclusion, the demand for shavers market around the world is growing because of the increasing consciousness regarding physical appearance and rising number of female users.

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Cyber Insurance Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

The COVID-19 crisis is having a positive effect on the demand for cyber insurance, as the pandemic has shifted countries’ focus to healthcare and economic stability, thus opening the doors for cyber-criminals to hack servers and steal vital information. Malware spams, phishing attacks, and ransomware attacks have increased since the outbreak, many of which have targeted the World Health Organization (WHO). Therefore, in order to protect themselves against intellectual property and financial damage by such attacks, companies of all sizes are opting for cyber insurance.

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With the growing awareness on insurance, surging number of cyber-attacks, and increasing government regulations, the profile of cyber risk management firms is becoming better. This factor is set to prove instrumental in driving the cyber insurance market at a 26.3% CAGR between 2020 and 2030, thereby leading to the increase in the industry size from $5,573.2 million in 2019 to $70,671.9 million by 2030. In 2019, standalone insurance, based on product type, was more popular, as this product allows companies to instantly compensate themselves as well as their customers for any financial loss arising out of a cyber-attack. 

Standalone cyber insurance policies compensate the insured client or customer for the credit monitoring costs, IT forensic costs, data restoration costs, and public relations expenses, which might be incurred due to a data breach. Moreover, such policies also offer cover for the direct losses due to phishing, social engineering frauds, cyber frauds, spoofing, and phreaking, as well as companies’ legal liabilities to third parties. Large enterprises are the more-significant users of cyber insurance compared to small- and medium-sized enterprises (SMEs), as such companies are rapidly deploying the cloud, artificial intelligence (AI), internet of things (IoT), big data, and machine learning (ML) technologies in their operations. 

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This is leading to the creation of huge volumes of data, which includes sensitive information, including customers’ personal details. This is why such companies are regularly targeted by cyber-criminals, with the intention of getting access to a vast amount of data at once. Owing to the high risk of cyber-attacks and their high spending power, large enterprises are quickly adopting cyber insurance. Owing to the existence of several major cyber insurance companies, including Chubb Group Holdings Inc., American International Group Inc., and Lockton Incorporated, North America is currently the largest contributor to the market.

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

The automotive industry is expanding rapidly at the present time due to the increasing disposable income of people, rising demand for electric cars, and technological advancements. From 2012–2017, the automobile industry registered a growth of around 17% in the sales of all types of vehicles around the globe. In addition to this, the demand for passenger vehicles witnessed nearly 16% growth in the same time period worldwide. 

This expansion of the automotive industry is resulting in the rising requirement for compressors, as they are widely used in various applications in the industry, including engine construction, tire inflation, air conditioning systems, and car painting.

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HVAC systems perform heating and cooling pf buildings and are utilized in both commercial and residential sectors. In 2017, the overall AC demand stood at 110 million, which rose from 100 million in 2013. The HVAC domain is further expected to witness considerable growth in the near future as well because of the increasing construction of commercial as well as residential buildings, expanding smart homes market, and development of energy efficient systems.

The rising usage of screw compressors is a key driving factor for the growth of compressor market.  At the present time, energy efficiency is a primary requirement observed in the domain. This is the major reason for the increasing adoption of screw compressors, as they offer higher efficiency than reciprocating compressors.

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Compressors are utilized in HVAC systems and refrigerators that are installed in various application areas, such as food outlets, hotels, industrial buildings, residential buildings, supermarkets & hypermarkets, and commercial buildings. Hence, as the demand for HVAC-R systems increase, the requirement for compressors will rise as well. Apart from better energy efficiency, these compressors also provide continuous flow and low-end temperature of the compressed air. 

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Connected Car Market Outlook and Forecast 2020 due to COVID-19 Impact

According to a report by P&S Intelligence, the global connected car market reached a value of $72,499.2 million in 2019, and it is projected to attain a value of $198,459.7 million by 2025, progressing at a 24.1% CAGR during the forecast period (2020–2025). The growing demand for improved driving experience, introduction of IoT in the automotive industry, and surging concerns regarding safety and security are the key factors resulting in the expansion of the market across the globe.

In terms of services, the connected car market is categorized into fleet management, mobility management, driver assistance, vehicle safety, and entertainment, out of which, the driver assistance category held the major share of the market in 2019. The supportive government initiatives in several countries, increasing safety concerns among people, and rising adoption of ADAS features are the reasons for the growth of the category. In addition to this, the installation of basic ADAS features in new vehicles has been made mandatory in a number of countries.

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The growing demand for improved driving experience is the key reason for the expansion of the connected car market across the globe. As the urbanization is rising, the need for vehicles for both commercial and personal uses has increased as well. This has led to an increased number of vehicles on roads that are causing traffic jams. These problems can be taken care of to some extent with the aid of innovative connectivity features.

In addition to this, the surging concerns regarding safety and security are also projected to result in the growth of the connected car market in the years to come. Technologies including automatic braking, ADAS, and lane assistance can considerably help in improving the driving experience significantly. These technologies aid in decreasing traffic rule violations, causing a decline in road accidents. Owing to these factors, the integration of safety and security solutions in new vehicles are increasing.

In conclusion, the demand for connected cars is growing due to the rising need for enhanced driving experience and increasing security and safety concerns among people. 

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Electric Vehicle Communication Controller Market Future Trends, Prominent Players, Industry Impact and Forecast by 2024

The global electric vehicle communication controller (EVCC) market is expected to generate a revenue of $553.4 million by 2024, increasing from $97.0 million in 2018, and is predicted to progress at a 34.8% CAGR during the forecast period (2019–2024), according to a report by P&S Intelligence. The major factors leading to the growth of electric vehicle communication controller market are rising investments in charging infrastructure and growing government support for deploying electric vehicle charging infrastructure.

When system is taken into consideration, the market is divided into SECC and EVCC, between which, the EVCC division held the major share of the market, in terms of volume, in 2018. The rising sales of plug-in electric vehicles (PEV) is creating high demand for EVCC. The adoption of these vehicles has been rising due to the supportive government policies in the form of incentives and subsidies. The SECC division is expected to advance at a faster pace during the forecast period due to the growing installation of charging stations.

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The development of advanced technologies, including vehicle-to-grid (V2G) for two-way electricity requirement management grid, is providing opportunities to the players operating in the EVCC market. As the utilization of electric vehicles is rising, the need for increased accessibility to charging ports is growing as well. Attributed to this, companies in the domain are focusing on developing advanced charging stations. The development of the V2G charging technology will decrease the load on electric grids, if multiple vehicles are connected for charging.

In conclusion, the demand for EVCC is growing due to the increasing adoption of electric vehicle and rising government support.

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Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Cyber Insurance Market

The global cyber insurance market will grow, in value, from $5,573.2 million to $70,671.9 million from 2019 to 2030. In addition to this, the market is predicted to advance at a CAGR of 26.3% from 2020 to 2030, according to the estimates of P&S Intelligence, a market research firm in India. Cyber insurance solutions are widely adopted by both small and medium enterprises (SMEs) and large enterprises.

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“According to many reports, there had been data breach incidents involving nearly 8 billion records, that included phone numbers, home addresses, and credit card details during January 2019—April 2020”. Furthermore, the increasing incidence of data breaches has made the governments of many countries implement stringent cyber security policies and measures for mitigating the growing security risks, which has, in turn, boosted the demand for cyber insurance solutions across the world. 

The increasing internet penetration and digitization in several industries and business operations has tremendously increased the adoption of digital solutions such as online transactions, data analysis, and various other processes. This has also significantly increased the prevalence of cyber attacks all over the world, with soaring number of cyber fraud, theft, and data breach cases, especially those pertaining to social security numbers, passwords, credit card details, email addresses, and other confidential information, being reported every year. 

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Between the two, the large enterprises are expected to generate higher demand for these solutions and systems in the future years. This is credited to the fact that the large enterprises are increasingly adopting various advanced technologies, owing to which, they are becoming more vulnerable to cyber attacks. Integrated and standalone are two main types of cyber insurance solutions used by organizations across the world.

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