Surging Demand for HMI Solutions Driving Sales of Automotive Infotainment Systems

The burgeoning requirement for human machine interface (HMI) systems and booming sales of passenger vehicles are fueling the demand for automotive infotainment systems across the world. For instance, Nissan has announced it has started the development of self-driving cars for replacing human requirement for operating the vehicle. These systems provided various advantages such as improved scheduling and routing, reduced operating costs, and enhanced driver productivity. According to the India Brand Equity Foundation (IBEF), the production of automobiles in India grew at a CAGR of 2.36% from FY16 to FY20 and reached 26.36 million units in FY20. 

Automotive Infotainment Market Outlook

Apart from this, the surging deployment of small and medium-sized cars is also propelling the sales of automotive infotainment systems. Additionally, the rapid advancements being made in wireless technologies are also fueling the development of automotive infotainment products and services. The adoption of voice interface systems in vehicles is also creating lucrative growth opportunities for the players operating in the automotive infotainment market. Automotive infotainment systems basically refer to information and entertainment systems such as software platforms, digital versatile disc (DVD) players equipped with video screens, and audio systems such as rear sear entertainment and its accessories, radio, and navigation devices like GPS.

Many original equipment manufacturers (OEMs) have began working with suppliers for developing low-cost and feature-packed infotainment systems, which are particularly priced for low to medium segment cars. Furthermore, many automobile manufacturers are providing software updation kits to their customers for saving cost and time and improving customer experience. The other major factor propelling the demand for automotive infotainment systems is the surging deployment of electric vehicles across the world, as per the observations of the market research company, P&S Intelligence.

Hence, it can be safely said that the demand for automotive infotainment systems will soar in the coming years, mainly because of the increasing deployment of electric vehicles, surging passenger car sales, and growing requirement for HMI systems in vehicles. 

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Enactment of Strict Environmental Regulations Driving Demand for Liquid & Air Filter Bags

The enactment of strict government regulations and environmental standards for mitigating water and air pollution is driving the demand for liquid and air filter bags across the world. In recent years, industrial activities have surged in several countries and this has led to the generation of large quantities of liquid and air wastes, thereby causing rapid environmental degradation. As a result, the governments of many countries implemented environmental standards and regulations in order to reduce the emission of pollutants or contaminants into the atmosphere.

Because of the enactment of such regulations, many industries started using liquid and air filter bags, as these products help in removing the dust particles settled in various systems and machinery. Additionally, the burgeoning requirement for these filter bags in the cement manufacturing and mining industries is also creating lucrative growth opportunities for the players operating in the liquid and air filter bags market. In these industries, liquid and air filter bags are extensively used for reducing the generation of dust particles during manufacturing processes.

In this industry, these bags are extensively used for removing dust and other unwanted substances from the equipment machinery. Across the globe, the sales of these bags were the highest in the Asia-Pacific (APAC) region in the years gone by. This was due to the huge demand for clean indoor air and the implementation of stringent emission regulations in the region. Moreover, with the surging power production and the expansion of food and beverage and oil and gas industries, the demand for these bags will explode in the region in the coming years.

Hence, the sales of liquid and air filter bags are certain to shoot up in the forthcoming years, primarily because of their growing requirement in various industries and the implementation of strict emission and environmental regulations in several countries around the world.

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Why Are Automobile Manufacturers Using Methylene Chloride In Abundance?

Methylene chloride, an organic compound, is a volatile liquid with a moderately sweet aroma. The chemical formula of the organic compound is CH2Cl2. The compound is also known as dichloromethane (DCM) and is widely used as a solvent in paint removers. Additionally, DCM is also used in aerosol formulations, which are required in the production of pharmaceuticals, as an ethane foam blowing agent, and as a degreasing agent in the manufacturing of electronics. Furthermore, methylene chloride is also used as a fast-drying solvent cement for polycarbonate.

Moreover, the organic compound also serves as a key solvent in paint and adhesive formulations, due to its low flammability, excellent dissolving strength, and quick-drying properties. As the construction industry is one of the major end-users of paints and adhesives, large-scale development of infrastructure units such as buildings, bridges, and manufacturing units across the world, will fuel the methylene chloride market at a CAGR of 5.4% during forecast period. The market was valued at $1,818.3 million in 2017 and it is expected to reach $2,485.5 million revenue by 2023.

Additionally, the increasing consumption of paints and adhesives in the automobile industry, owing to the burgeoning automobile sales, will also fuel the need for methylene chloride in the coming years. For instance, the International Organization of Motor Vehicle Manufacturers (OICA) states that in 2020, 77,971,234 vehicles were sold across the world. OICA further mentions that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold in 2020. Moreover, the surging production of automobiles in developing countries such as India and China, due to the presence of a large manufacturing base, will also amplify the usage of DCM in the foreseeable future.

According to P&S Intelligence, APAC dominated the methylene chloride market in the recent past, due to the booming population and flourishing infrastructure sector in the region. Moreover, the emergence of new application areas of DCM, rapid penetration of manufacturing units in developing countries, and easy availability of raw material will also boost the production and adoption of the organic compound in the region. Additionally, the booming pharmaceutical sector in APAC will also fuel the consumption of methylene chloride in the forthcoming years.

Thus, the rising construction activities and booming automotive industry will augment the usage of methylene chloride in the foreseeable future.

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Why are Automotive Manufacturers Preferring Adhesive Tapes?

An adhesive tape refers to a continuous flexible strip made of metal foil, cloth, plastic film, or paper coated with a thin layer of permanent glutinous adhesive on one or both sides. Such tapes are available in the form of sheets or rolls of various sizes and are popularly known as tapes, sticky tapes, self-sticking tapes, and pressure-sensitive tapes. These tapes are increasingly being used for packing and binding the products related to the e-commerce, healthcare, and food and beverage industries.

The surging usage of tapes having adhesive properties, majorly in the form of protection tapes and double-sided tapes, in the automotive industry will accelerate the adhesive tapes market at a CAGR of 5.5% during forecast period. According to P&S Intelligence, the market value is expected to rise from $54,333.4 million in 2017 to 74,954.6 million by 2023. Currently, automakers are shifting from mechanical fasteners, such as screws and bolts, to adhesive tapes to reduce the weight of automobiles. Thus, with the burgeoning adoption of lightweight vehicles, the usage of such tapes will amplify in the coming years.

In the coming years, market players such as Nitto Denko Corporation, Shurtape Technologies LLC, 3M Company, Nichiban Co. Ltd., LINTEC Corporation, tesa SE, Avery Dennison Corporation, Lohmann GmbH & Co. KG, Intertape Polymer Group Inc., and Scapa Group plc will focus on the production of specialty tapes. This will be because of the surging requirement for these tapes in the automotive, electrical and electronics, construction and building, and healthcare industries, across various regions.

Geographically, Asia-Pacific adopted the highest quantity of adhesive tapes in the recent past, and it is expected to register the fastest growth in the adhesive tapes market in the foreseeable future. This can be ascribed to the surging use of these tapes in China and India, owing to the continuous research and development (R&D) and improvements in the automotive, healthcare, and electronics industries of these countries. Besides, the easy availability of cheap labor and low cost of raw materials have also fueled the production of adhesive tapes in the region. 

Thus, the rising utilization of tapes with adhesive properties in the automobile industry and increasing implementation of government regulations regarding eco-friendly tapes will propel the production of adhesive tapes in the coming years. 

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Rising Money Laundering Cases To Boost Anti-Money Laundering Market Growth

Factors such as the surging number of money laundering cases and mounting information technology (IT) expenditure will facilitate the anti-money laundering (AML) market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $2.4 billion revenue in 2020.

Moreover, the surging volume of digital payments, rising technological advancements, and mounting internet traffic will also accelerate the market growth in the foreseeable future. Financial institutions across the world are deploying AML solutions and services to mitigate money laundering incidents arising due to the increasing use of digital payments.

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Another primary factor catalyzing the market growth is the soaring number of money laundering cases worldwide. The rising incidents of such financial frauds can be attributed to the growing penetration of the internet and surging use of virtual currencies globally. Additionally, the rising preference for online banking services will also augment the demand for AML solutions in the foreseeable future.

Cybercriminals across the world are using internet banking platforms to facilitate money generation through drug trafficking and terrorist funding and make it appear to have come from a legitimate source. Moreover, the escalating focus of governments on mitigating cyberattacks and online financial frauds will also support the anti-money laundering market growth in the foreseeable future.

The burgeoning use of online banking services and rising internet traffic, and the booming number of unidentified payment services for digital transfer of funds, is encouraging governments to draft and implement stringent AML legislations and digital payment security norms to enhance control and security and ensure compliance by financial organizations.

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Why Are Surgeons Shifting To Surgical Glue?

Surgical glue refers to a synthetic or biological material used after traumatic injuries and surgeries for preventing liquid or air leakage in wounds. It is a special kind of medical sealant or adhesive that facilitates closing and healing of wounds and are capable of replacing staples and sutures in healing incisions and minor cuts. At present, the increasing incidence of plastic surgeries is creating a huge requirement for surgical glue worldwide. As per the International Society of Aesthetic Plastic Surgery (ISAPS), 1,795,551 breast augmentation, 1,704,786 liposuction, 1,259,839 eyelid surgery, 924,031 abdominoplasty, and 821,890 rhinoplasty procedures were performed in 2019. 

Moreover, the booming geriatric population will fuel the surgical glue market at a CAGR of 10.6% during the forecast period. The market revenue stood at $3,810.5 million in 2017 and it is expected to reach $6,936.5 million by 2023. The World Population Ageing 2020 report estimates that the population of people aged 65 years and above will surge from 727 million in 2020 to 1.5 billion by 2050. Elderly people are highly susceptible to cancer, diabetes, cardiovascular diseases (CVDs), and neurological disorders, which require surgeries to close incisions.

According to P&S Intelligence, North America will consume the highest volume of surgical glue in the foreseeable future, due to the huge investments being made in the research and development (R&D) of medical adhesives and increasing number of surgeries being performed in the region. For instance, the American Society of Plastic Surgeons (ASPS) reveals that 6,878,486 reconstructive surgical procedures, 13,281,235 cosmetic minimally-invasive procedures, and 2,314,720 cosmetic surgical procedures were performed in the U.S. in 2020.

Thus, the rising incidence of plastic surgeries, burgeoning aging population, and soaring cases of chronic diseases will augment the usage of surgical glues in the forthcoming years.

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Huge Surge Expected in Saudi Arabian Surgical Sutures Market till 2023

Due to the soaring number of surgeries and burn cases in Saudi Arabia, the demand for surgical sutures is expected to rise considerably in the coming years. Since the last few years, the prevalence of chronic diseases and other health problems has increased dramatically, and this is resulting in a huge rise in the number of surgeries being performed in the country. The other major factors pushing the demand for surgical sutures in Saudi Arabia are the surging geriatric population and rising healthcare expenditure.

Due to the above factors, the Saudi Arabian surgical sutures market is expected to grow from $16.7 million in 2017 to $20.6 million in 2023 and demonstrate a CAGR of 3.6% during the forecast period (2018–2023). There are two types of surgical sutures available in the market, namely absorbable sutures and non-absorbable sutures, of which the absorbable ones recorded higher demand in 2017. This is mainly attributed to the fact that such products do not have to be removed from the body after surgery, as they are easily broken down by the body through hydrolysis.

Therefore, due to the rising number of surgeries and burn cases and burgeoning number of hospitals and other medical facilities in Saudi Arabia, on account of the surging healthcare expenditure, the demand for surgical sutures is expected to increase significantly in the coming years.

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Advance Visualization Helping in Chronic Disease Diagnosis and Treatment

 Every year, cardiovascular diseases (CVDs) kill 17.9 million people, while cancer carries an annual mortality of 9.6 million, as per the World Health Organization (WHO). Other common chronic diseases with a high burden of morbidity and mortality are asthma, chronic obstructive pulmonary disease (COPD), Alzheimer’s, Parkinson’s, and a host of musculoskeletal conditions, such as atrophy and dystrophy, osteoporosis, osteopetrosis, and osteopenia. The effective diagnosis and treatment of these diseases require medical imaging, so that the doctor can take a peek inside the body to see what is really happening.

Thus, P&S Intelligence credits the increasing volume of medical imaging studies while forecasting an 11.3% CAGR for the advanced visualization market between 2017 and 2023. At this rate, the worth of the sales of such solutions will likely rise to $3,843.8 million by 2023. This is because such solutions are used by radiologists and doctors for a better look at the pictures generated by various diagnostic imaging modalities. Advanced visualization solutions essential help in the storage, sharing, transfer, and interpretation of diagnostic images, as well as in the real-time monitoring of the interior human anatomy.

Thus, a key reason for the rising volume of medical imaging tests and, in turn, the procurement rates of such solutions, is the increasing awareness of the early diagnosis of diseases. The outcomes for patients suffering from many chronic diseases, such as cancer and CVDs, often depend on how far advanced the disease is. Therefore, catching them as early as possible becomes important because beyond a certain point, the disease becomes incurable. For instance, stage 4 cancer, which is characterized by metastasis (spread of the tumor from the original site to other places inside the body), is mostly terminal.

Due to such technological enhancements, North America is the largest advanced visualization market presently. Driven by its developed healthcare infrastructure and affordability of the services as a result of people’s high disposable income and favorable reimbursement scenario, the continent accounts for one of the highest volumes of medical imaging studies in the world. Additionally, the rising geriatric population here is pushing up the incidence of chronic diseases, which is leading to the incorporation of advanced visualization solutions by the medical facilities in the region.

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Why Are Veterinarians Prescribing Organic Trace Mineral Products?

Trace minerals play a vital role in several metabolic functions in the animal body. These minerals can be derived from organic as well as inorganic sources. Inorganic trace minerals, such as sulphates, carbonates, chlorides, and oxides of elements, interact with tannin, fiber, silicates, oxalate, phytate, and other minerals in the gastrointestinal tract of animals, thereby affecting the feed absorption process. As organic trace minerals such as selenium, zinc, copper, and manganese improve gut absorption in animals, they are being increasingly used in animal feed. 

Organic Trace Minerals Market Outlook

As organic trace minerals also include iron, the surging iron deficiency among poultry and ruminants will help the organic trace minerals market register significant growth in the coming years. Additionally, the mounting focus of animal farm owners on strengthening animal immunity will create a huge requirement for minerals such as copper and manganese in the foreseeable future. Furthermore, the surge in the number of animal farms is propelling the demand for organic trace minerals, as veterinarians are increasingly recommending using these products in animal feed. 

According to P&S Intelligence, North America dominates the organic trace minerals market, due to the surging customer awareness about the advantages of organic products in the region. Additionally, the implementation of stringent environmental regulations is limiting the use of inorganic minerals, which is, in turn, fueling the adoption of organic trace minerals in the region. Furthermore, the Asia-Pacific (APAC) region is also adopting a considerable volume of organic trace minerals, due to the soaring consumption and export of milk products and meat in the region. 

Thus, the rising emphasis on animal health and enhanced productivity, escalating demand for milk products and milk, and growing prevalence of iron deficiency among animals will encourage the use of organic trace mineral products in the coming years.  

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What is the Present and Future Outlook of the Interventional Radiology Market on the Basis of Region?

There are different types of products available in the interventional radiology market, including magnetic resonance imaging (MRI), ultrasound, computed tomography (CT), angiography systems, and others. The market for ultrasound systems is estimated to progress substantially during the forecast period, registering a CAGR of 6.2%. The reason for such growth would be the increasing prevalence of birth disorders and chronic diseases that are boosting the demand for ultrasound systems globally.

Furthermore, the domain, on the basis of application, is categorized into cardiology, oncology, gastroenterology, urology and nephrology, obstetrics and gynecology, and others. Out of these, oncology is estimated to contribute the most significant share to the interventional radiology market in the forecast period. The oncology segment is expected to generate $5.1 billion revenue for the market in 2018 and $7.3 billion by 2024. Across the globe, the increasing prevalence of cancer has boosted this segment. Furthermore, the market for gastroenterology is also expected to experience significant growth, progressing at a CAGR of5.9% during the analysis period.

Across the globe, the interventional radiology market is registering growth owing to a substantial number of new equipment being introduced by prominent players. For instance, Canon Medical Systems Corporation, within its Vitrea platform, launched the illumination rendering technology in January 2019. This will enable real-time interaction with photorealistic images, allowing physicians to visualize patient’s anatomy in all dimensions. That same year, Canon also launched the Aquilian Start CT system in Dubai.

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Europe Cleanroom Technology Market Set for Prosperity in Future

The prevalence of infectious diseases is growing rapidly all across the globe, including Europe. A very recent example is that of the COVID-19, which is spreading at a very quick pace around the world. The fact that there’s no vaccine yet for curing the diseases is a major cause of concern. European countries, including Italy and the U.K. have been hot hardly by this deadly virus, owing to which the demand for the cleanroom technology in the region is rising, as they are vital for the drug development process. 

This is due to the fact that these products are used widely for maintaining the aseptic environment in a number of industries. Safety, including apparel and gloves, and cleaning, vacuum systems, wipes, and disinfectants, are the two types of consumable that are used in cleanrooms. Different types of cleanrooms are pass-through cleanrooms, standard cleanrooms, softwall cleanrooms, and hardwall cleanrooms. Out of these, the demand for standard cleanrooms was the highest in the past, which is due to the presence of large medical device and pharmaceutical companies that opt for standard cleanrooms to produce critical products. 

Other than this, the demand for hardwall cleanrooms is also predicted to increase in the years to come, which can be ascribed to the rising research and development activities in pharmaceuticals in the region. The process involves heavy usage of hardwall cleanrooms, which are designed specifically for research activities. Medical devices, pharmaceutical, and biotechnology industries are the major users of cleanrooms in the European region. The pharmaceutical industry made the most use of cleanrooms in the past, owing to the growing number of pharma companies and increasing investments in pharmaceutical research activities. 

Hence, the demand for cleanrooms in Europe is growing due to the surging prevalence of infectious diseases. 

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Why Are Parents Opting for Baby Shampoos and Conditioners?

Sanitation and hygiene are the most vital aspects of baby care and shampoos and conditioners are inherent constituents of baby care. As babies are fragile and delicate, hygiene and sanitation products of adults are not recommended to be used on babies. Nowadays, parents have become very cautious about the brands of baby shampoos and conditioners, owing to the mounting awareness about the hygiene of babies. Owing to this reason, parents are now preferring to use toxin and paraben-free baby shampoo and conditioners.

Baby Shampoo and Conditioners Market Outlook

Moreover, the accelerating urbanization rate in populous countries, such as India and China, will steer the baby shampoo and conditioners market growth in the forthcoming years. Increasing urbanization rate in such countries has encouraged parents to amplify their focus on the nurture of their child, owing to which, they have surged their expenditure on baby care products. Additionally, the declining global infant mortality rate will also augment the use of baby shampoos and conditioners in the upcoming years. According to the World Bank, the global infant mortality rate has declined from 64.5 in 1960 to 28.2 in 2019. 

According to P&S Intelligence, Europe dominated the baby shampoo and conditioners market in the preceding years. Asia-Pacific (APAC) has also emerged as a major procurer of baby shampoos and conditioners in recent years. This can be primarily owed to the booming population and increasing fertility rate of women in China and India. For instance, the World Bank states that the fertility rate of China and India stood at 1.7 and 2.2, respectively, in 2019. Furthermore, the World Economic Forum (WEF) forecasts that the population of India will surpass 1.6 billion by 2060.  

Therefore, the surging awareness among parents about baby hygiene and sanitation and the booming population will amplify the use of baby shampoos and conditioners in the foreseeable future. Moreover, the declining infant mortality rate, owing to the improving healthcare infrastructure, will also propel the consumption of such baby care products in the forthcoming years.  

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What are Major Factors Driving Growth of Digital Health Market?

 The geriatric population, specifically that of people in the age group of 65 and above, is about to reach 1.5 billion in 2050 from 703 million in 2019, as per the World Population Ageing 2019 report of the United Nations (UN). It is a well-known fact that the elderly fall sick often, for long periods, as they have compromised immune systems and low physical strength. On account of the latter factor, many of them also find it extremely difficult to go to a doctor every now and then, which is why the need for remote patient monitoring is increasing.

As per P&S Intelligence, this will be a key factor to take the digital health market from $101.4 billion in 2019 to $884.1 billion by 2030, at a high 21.8% CAGR between 2020 and 2030. This is because among many of its offerings, digital health includes connected devices, which are being used to monitor various aspects of people’s health and medical condition in their homes. By using the internet connection of patients’ homes, these devices automatically send the gathered data to the server of the doctor for analysis and action, thus offering the elderly immense convenience and comfort.

The level of mHealth usage can be gauged from a survey conducted by Google and Cornell University that revealed that of all the mobile apps downloaded in 2015, 44% were physical-activity-related apps, while 23% were specialized medical apps. Just like connected devices, these applications transmit the data via the internet to doctors, who then connect with patients remotely or send reminders about in-person visits. Such apps are becoming increasingly popular with the launch of advanced communication technologies such as 4G and 5G, which allow for fast data transfer.

Therefore, as governments invest in holistic care, the adoption of digital health solutions will boom in emerging and advanced economies. 

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Huge Growth Expected in European Drug of Abuse Testing Market in Future

 For many people in Europe, especially emotionally disturbed teens, drugs are their best friends! But, as everyone knows, whether an addict or not, drugs are not good. Though they help people escape their troubles for a while, they lead to long-lasting ill-effects, such as risk of AIDS and hepatitis C. Due to the increasing concerns among relatives and friends about drug abuse by their loved ones, they are rapidly using methods to test the presence of such substances in the body of suspected users.  

Thus, with the rising prevalence of drug abuse in the continent, the European drug of abuse testing market is predicted to grow to $3.0 billion by 2023, from $1.7 billion revenue in 2017, at a 9.6% CAGR during 2018–2023. Such kits and products can be used to determine the presence of a number of toxicants in the body, including amphetamines, opiates, alcohol, cannabis, cocaine, and ecstasy, commonly known as MDMA, which is short for its chemical formula 3,4-methylenedioxymethamphetamine. 

The largest DOA testing market in Europe has been the U.K., and the situation will be the same in the coming years, owing to the growing problem of drug abuse in the kingdom. According to the National Health Service (NHS), in 2018–19, 7,376 people were admitted to the hospital with drug-induced mental and behavioral disorders, which was a 30% increase from the 5,668 admissions reported in 2008–09. Moreover, rising by 16% from 2012–13, the number of hospital admissions due to drug poisoning in the kingdom stood at 18,053 in 2018–19. 

Therefore, with the growing issue of DOA usage in Europe, the volume of tests is swiftly rising.

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Rising Cases of Food-Borne Zoonotic Diseases in U.S. Driving Focus on Animal Healthcare

The surging prevalence of foodborne zoonotic diseases in the U.S. is creating a huge requirement for animal healthcare products. Such diseases are caused by the intake of water or food contaminated by pathogenic microorganisms, such as viruses, parasites, and bacteria. These disease-causing microorganisms enter the animal body through the gastrointestinal tract, where the initial symptoms are observed. Most common foodborne zoonotic diseases are caused by listeria, salmonella, E. coli, campylobacter, yersinia, trichinella, cryptosporidium, toxoplasma, giardia, and toxins of Clostridium perfringens, Bacillus cereus, Staphylococcus aureus, and Clostridium botulinum, which can be eliminated by certain animal healthcare products.  

U.S. Animal Healthcare Market Outlook

Additionally, the increasing domestic consumption and export of meat and milk will support the U.S. animal healthcare market growth in the coming years. For instance, according to the U.S. Meat Export Federation (USMEF), between January 2021 and May 2021, the country exported 408,896 metric tons (mt), 325,747 mt, 174,280 mt, 92,437 mt, 81,203 mt, 57,723 mt, 59,604 mt, and 56,290 mt pork to China/Hong Kong, Mexico, Japan, Canada, South Korea, Central America, South America, and the Association of Southeast Asian Nation (ASEAN) members, respectively. 

In recent years, companies operating in the U.S. animal healthcare market have been focusing on mergers and acquisitions and partnerships to capture a vast customer base. For example, in May 2018, Zoetis Inc. acquired Abaxis Inc., a veterinary point-of-care diagnostic instruments provider. Some of the other companies opting for such measures are Elanco Animal Health, C.H. Boehringer Sohn AG & Co. KG, Vetoquinol S.A, Bayer AG, HIPRA, Virbac Group, Huvepharma, Ceva Santé Animale, and Dechra Pharmaceuticals plc.

Thus, the rising prevalence of foodborne zoonotic diseases, surging domestic consumption and exports of milk and meat, and increasing adoption of companion animals will accelerate the consumption of animal healthcare products in the U.S. in the foreseeable future.  

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Why Are Turkish Food and Beverage Companies Using Coding and Marking Systems?

The surging usage of coders and printers in the food and beverage industry is the major factor fueling the sales of coding and marking systems in Turkey. Moreover, the expansion of the food and beverage industry, on account of the increasing demand for processed and packaged food items and beverages, is further boosting the demand for coding and marking systems in the country. As per TurkStat, there were 499 beverage producing and 42,030 food processing units in the country in 2015.

Apart from being heavily used in the food and beverage industry, coding and marking systems are also extensively used in the automotive industry. This is why the rapid growth of the automotive industry is causing a sharp surge in the sales of coding and marking systems in the country. This is subsequently causing the expansion of the Turkey coding and marking systems market. According to the forecast of P&S Intelligence, a market research company based in India, the market revenue will rise from $76.4 million in 2017 to $120.4 million by 2023.

Out of these, the demand for the continuous inkjet technology is predicted to be the highest in the country in the coming years. Moreover, the usage of continuous inkjet-based printers is rising rapidly in the food and beverage industry in the country. The major end users of coding and marking systems in the country are electrical and electronics, food and beverage, automotive and aerospace, healthcare, and chemical industries. Apart from these, coding and marking systems are also used heavily for coding and labelling personal care and cosmetics products, packaged consumer goods, and textiles. 

Amongst these, the usage of coding and marking systems was found to be the highest in the food and beverage industry in 2017. This is ascribed to the fact that the government of Turkey has made it mandatory for food and beverage companies to print manufacturing details including the manufacturing date, ingredient lists, and nutrition facts on the packages of food products and beverages. This is the main reason behind the extensive usage of coding and marking systems in the food and beverage industry.

Hence, it can be safely said that the demand for coding and marking systems will boom in Turkey in the coming years, primarily because of their growing usage in the automotive and food and beverage industries in the country.

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How Does Income Surge Accelerate Bluetooth Speaker Adoption Rate?

Bluetooth speakers offer wireless audio streaming, playing media from content sources such as smartphones, tablets, laptops, or any other Bluetooth-enabled device. Most of these speakers are portable and easy to install, use, and carry. As most portable Bluetooth devices operate on rechargeable lithium polymer batteries, improvements in lithium-ion (Li-ion) batteries will provide a long playback time to such speakers. Moreover, the improving wireless connectivity and increasing adoption of smartphones will augment the use of portable Bluetooth speakers in the coming years.

Bluetooth Speakers Market Outlook

The rising adoption of such audio devices can be attributed to the growing need for mobile infotainment systems and the mounting disposable income of people around the world. Moreover, the advancement in audio technology will supplement the Bluetooth speakers market growth in the coming years. These devices are available at low, premium, and mid-range prices. In recent years, small and sturdy Bluetooth speakers, such as JBL Go by Harman International Industries and BT50B by Phillips Corporation, have gained prominence due to their exceptional sound clarity and rigid designs.

According to P&S Intelligence, North America dominated the bluetooth speakers market in the recent past due to the booming number of smartphones in the U.S. and Canada. Nowadays, Bluetooth-enabled speakers with Wi-Fi connectivity, such as Google Home, Bose Bluetooth speakers with Alexa (smart voice assistant), and artificial intelligence (AI)-supported Echo Bluetooth speaker by Amazon.com Inc., are becoming a crucial part of smart homes, as these connected devices allow customers to connect multiple devices simultaneously. Additionally, these devices are also used to play music from remote locations.

Therefore, the increasing need for mobile infotainment systems and surging disposable income will fuel the adoption of Bluetooth speakers in the forthcoming years.

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What are Factors Driving Progress of Healthcare Insurance Market in Asia-Pacific?

 One of the major factors responsible for the surge in the demand for healthcare insurance is the soaring geriatric population level across the world. As per a report published by the United Nations in 2017, called the World Population Prospects, the geriatric population is predicted to increase at a faster rate than the younger population across the world. The report also stated that there were 962 million people in the world, aged 60 years and above in 2017, and this number is predicted to rise to 1.4 billion and 2.1 billion by 2030 and 2050, respectively.  

Due to the above-mentioned factors, the revenue generated from the global sales of various health insurance plans is expected to increase from $1.7 trillion in 2018 to $2.2 trillion by 2024. The global healthcare insurance market is predicted to exhibit a CAGR of 4.3% during the forecast period (2019–2024). Health insurance is basically a type of insurance that covers the surgical and medical expenses incurred during a person’s treatment. It can either pay the care provider directly for the treatment or it can reimburse the costs incurred during the treatment of an injury or illness.

The most common types of healthcare insurances are disease, income protection, and medical insurances. Amongst these, the medical insurance policies are expected to register the highest and the fastest growth in adoption during the forecast period, owing to the increasing number of paneled hospitals providing medical services around the world. There are two types of coverage plans offered by the health insurance plans — lifetime and term coverage. Of these two, the term coverage is expected to record rapid growth in adoption during the forecast period, due to the shift of people to this type from the other.

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Wearable Medical Devices Market Set for Prosperity in Future

The increasing awareness amongst the people about fitness and wellness is one of the major factors fuelling the surge in the demand for wearable medical devices across the world. Several organizations and companies are regularly organizing awareness programs and campaigns for increasing the awareness in people regarding health and wellness and for making them understand the importance of staying healthy and fit. In addition to this, the wearable medical devices contain important information and advice from nutritionists and dieticians, which make them highly sought-after across the globe.

The rising prevalence of obesity and various other chronic diseases, soaring geriatric population, and surging preference for technologically advanced products are the other major factors boosting the demand for wearable medical devices throughout the world. Due to these factors, the revenue generated from the worldwide sales of wearable medical devices is expected to reach $67.2 billion by 2030, which is a considerable increase from the $10.6 billion revenue that the sales of these devices generated in 2019. The global wearable medical devices market is predicted to progress at a CAGR of 18.3% during the forecast period (2020–2030).

There are numerous types of wearable medical devices such as smartwatches, fitness trackers, hearing aids, smart cloths, breath analyzers, and patches. Out of these, the fitness trackers are projected to register the highest usage during the forecast period. This is mainly due to the fact that a majority of the people using these devices want to track their progress and fitness journey, number of steps taken, their health and fitness condition, and calories burnt. Moreover, these trackers are extremely cost-effective and are thus, being increasingly adopted by people across the world. 

The most prominent trend currently being witnessed in the wearable medical devices market is the mushrooming number of product launches by the various wearable medical devices manufacturing companies across the globe. For instance, in October 2019, Sony Corporation introduced the mSafety, which is a platform that integrates wristwatch and a cloud-based backend solution. This product was launched for providing a ready-made platform for remote health tracking and monitoring and mHealth applications, to the mHealth app developers, users, and healthcare systems.

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Increasing Government Support Driving Fuel Cell Electric Vehicle Market Growth

The global fuel cell electric vehicle market generated $3,059.5 million revenue in 2020. The market is being driven by the enactment of strict carbon emission regulations, such as those regarding fuel efficiency, by various governments and organizations, and the burgeoning requirement for environment-friendly vehicles, on account of the surging concerns being raised over the escalating carbon dioxide emissions all over the world. For example, the U.S. Environmental Protection Agency (EPA) is encouraging the adoption of fuel cell electric vehicles in order to reduce carbon dioxide emissions in the country.

Fuel Cell Electric Vehicle Market Outlook

Furthermore, the European Union has announced recently that it aims to reduce vehicular emissions by 80% by 2050 from the levels reported in 1990. The organization would achieve this objective by promoting the use of green vehicles. Besides, the mushrooming deployment of electric vehicles in several countries is also driving the growth of the fuel cell electric vehicle market. For example, as per the International Energy Agency (IEA), the sales of electric cars surpassed 2.1 million across the world in 2019, thereby propelling the global electric car fleet to 7.2 million.

This will be primarily because of the enactment of strict emission norms by the governments of China and Japan. Further, the existence of several major fuel cell vehicle manufacturing organizations such as Toyota Motor Corporation, SAIC Motor Corporation Limited, and Hyundai Motor Company, is also fueling the deployment of fuel cell electric vehicles in the region. Furthermore, the implementation of initiatives such as the promotion of zero-emission automobiles during major events like the 2020 Summer Olympics in Tokyo, is also propelling the market expansion in the region.

Hence, it is safe to say that the demand for fuel cell electric vehicles will surge sharply in the upcoming years, mainly because of the growing demand for environment-friendly vehicles, on account of the increasing air pollution levels and carbon dioxide emissions, and the enactment of favorable government initiatives regarding their deployment across the world. 

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Why Are Automotive Companies in APAC Using Adhesives and Sealants in Huge Quantities?

Automotive adhesives and sealants refer to the substances that are used for several bonding and sealing applications in the automobile industry. These substances are chemically similar but functionally different. Such adhesives and sealants help in enhancing performance, driving experience, reliability, and vehicle safety. These substances are being used in large quantities in Indonesia, Thailand, Vietnam, the Philippines, Japan, and China, due to the implementation of automotive fuel economy policies in such Asia-Pacific (APAC) countries. As adhesives and sealants improve the fuel economy of light trucks and cars, automakers have started using them in large quantities.

Moreover, the surging preference for lightweight vehicles, for optimizing the speed and power of automobiles, will also help the APAC automotive adhesives and sealants market advance at a CAGR of 6.5% during forecast period. The market was valued at $3,403.6 million in 2017 and it is expected to reach $4,938.0 million revenue by 2023. In recent years, the automotive industry has been replacing steel with lightweight materials such as aluminum, composites, and plastic, to improve the fuel efficiency of vehicles.

According to P&S Intelligence, China dominated the APAC automotive adhesives and sealants market in the recent past, due to the presence of a strong automotive manufacturing base in the country. Moreover, the high purchasing power parity and high nominal gross domestic product (GDP) of the country also fuels the consumption of adhesives and sealants in the automobile industry. China is one of the largest exporters of such substances in the world. 

Therefore, the increasing implementation of government policies aimed at promoting automotive fuel economy and the growing shift toward lightweight vehicles will fuel the need for automotive adhesives and sealants in APAC in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/apac-automotive-adhesives-and-sealants-market 

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Increasing Electric Vehicle Deployment Fueling Adhesive and Sealant Usage in German Automotive Industry

The mushrooming usage of adhesives and sealants in the German automotive industry is the major factor responsible for their booming sales in the country. These adhesives and sealants are being increasingly used in the manufacturing of several automotive parts and components in the country, primarily because of their higher resistance to moisture and strong bonding capability. In addition, they also offer higher flexibility, good impact resistance, and durability than the conventionally used adhesives and sealants.

Moreover, epoxy adhesives and sealants are being extensively used in the manufacturing of headlights and signal lights and also in the bonding of automobile bumpers. As Germany is one of the largest exporters and manufacturers of automobiles, the sales of adhesives and sealants are shooting up in the country. Besides, the surging deployment of electric vehicles, on account of the implementation of various vehicle electrification policies by the government and the increasing environmental concerns, is also creating lucrative growth opportunities for adhesive and sealant producers in the country. 

For instance, the German government provided various tax and financial incentives to automobile manufacturers to reduce the price of electric vehicles, which helped it achieve its objective of electrifying 1 million cars in the country by 2020. This subsequently caused the expansion of the German automotive adhesives and sealants market. Furthermore, with the soaring sales of commercial vehicles and passenger cars in the country, the revenue of the market will rise from $891.8 million in 2017 to $1,156.8 million by 2023.

In Germany, the enactment of regulatory policies aimed at replacing the traditional adhesives and sealants with environment-friendly solutions that have lower quantity of polluting materials such as volatile organic compounds and exhibit excellent adhesion characteristics, is becoming a major trend. Due to these policies, the usage of eco-friendly water-based acrylic adhesives in place of solvent-based adhesives is soaring in the country. These adhesives are being increasingly used in the production of instrument panel dashboards and trim parts of automobiles in the country.

Hence, it can be said without any hesitation that the use of adhesives and sealants in the German automotive industry will shoot up in the coming years, primarily because of their ability to reduce the weight of vehicles and impart higher durability and impact resistance to automobiles.

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Why Are Corporates Adopting Cut Size Uncoated Freesheet Paper In Abundance?

Cut size uncoated freesheet paper refers to a type of graphic paper that is manufactured by using about 10% mechanical pulp and 90% chemical pulp. This paper is available in rectangular sheets in three sizes— 210 mm*297 mm (A4), 215 mm*345 mm (legal), and 297 mm*420 mm (A3). A4-sized uncoated freesheet paper is preferred over other types of papers due to its higher compatibility with a variety of printers, such as laser and inkjet printers, and lower cost. 

As cut size uncoated freesheet paper is compatible with a variety of papers, the surging printer sales are expected to accelerate the cut size uncoated freesheet paper market at a CAGR of 2.4% during 2018–2023. The market revenue stood at $16,122.3 million in 2017 and it is projected to reach $18,483.6 million by 2023. Printers are used for producing textual and graphical output received from a computer on a printable medium, such as paper.

Apart from the commercial and educational sector, the residential sector is also using high volumes of cut size uncoated freesheet paper, due to the rising use of printers in this sector. Paper manufacturers, such as Domtar Corporation, Nippon Paper Industries Co. Ltd., Shandong Sun Holdings Group, International Paper Company, PT Pabrik Kertas Tjiwi Kimia Tbk., Asia Symbol, The Navigator Company S.A., PT. Indah Kiat Pulp & Paper Tbk, Mondi Group, Smurfit Kappa Group plc, and UPM Group, are producing large volumes of this grade of paper to cater to the demands of individuals, corporates, and educational institutes. 

According to P&S Intelligence, Asia-Pacific (APAC) dominated the cut size uncoated freesheet paper market in the past and it is expected to retain its dominance in the coming years as well. This can be attributed to the soaring number of educational institutes and offices and the flourishing paper industry in the region. Moreover, the mounting printer sales in the region will also boost the consumption of this grade of paper in the forthcoming years. Additionally, the APAC region is also expected to adopt cut size uncoated freesheet paper at the highest rate in the forthcoming years.

Thus, the surging adoption of printers and the rising number of educational institutes in emerging economies will fuel the consumption of cut size uncoated freesheet paper in the foreseeable future.

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How Are Automotive and Aircraft Manufacturers Benefitting from Biocomposites?

Biocomposites refer to structural materials that are created from renewable resources. After their successful use, these materials biodegrade in an anaerobic environment to produce a feedstock or fuel that is sustainable and degradable. The disposal of these composites is quite easy, and it causes no harm to the environment. Due to the high durability of these substances, they are majorly used to increase the shelf-life of products. These composites are made of materials that are used for multiple tissue engineering and restorative applications owing to their superior mechanical properties, biodegradability, and biocompatibility.

These composites are being increasingly used in the automobile industry as they offer huge energy and cost savings for automakers. Moreover, the low weight of biocomposites also makes them ideal for the automotive industry. With the increasing adoption of lightweight vehicles owing to their energy efficiency, the biocomposites market will advance at a CAGR of 12.8% during 2018–2023. The market stood at $4,167.2 million in 2017, and it is projected to reach $8,473.4 million by 2023. Additionally, the usage of bio-based composites also reduces the dependence of automakers on non-renewable, petroleum-based polymeric plastics.

According to P&S Intelligence, the Asia-Pacific (APAC) region dominated the biocomposites market in the past due to the escalating adoption of lightweight materials in the automotive and aerospace industries, spurring demand for flame-retardant and electricity-resistant materials in the electrical and electronic sector, and accelerating usage of chemical- and corrosion- resistant materials in the pipe and tank and construction industries. Moreover, the region is also expected to adopt bio-based components at the highest rate in the coming years.

Thus, the growing consumption of lightweight and biodegradable composites in automotive and military aircraft production will augment the usage of biocomposites in the foreseeable years.

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Digitization of Financial Institutions Propelling Anti-Money Laundering Solution Demand

Money laundering refers to the illegal process of making huge sums of money generated by criminal activities, such as terrorist funding and drug trafficking, appear to have come from a legitimate source. Thus, the surging cases of money laundering, primarily on account of the rising penetration of the internet and increasing use of virtual currencies, will create a huge requirement for anti-money laundering (AML) software in the forthcoming years.

Moreover, the escalating use of online banking services, such as digital payments, will amplify the need for AML software and associated services in the foreseeable future. Additionally, the toughening government regulations regarding money laundering will facilitate the anti-money laundering market growth during 2021–2030. According to P&S Intelligence, the market generated a revenue of $2.4 billion in 2020.

With the growing use of online banking services, escalating frequency of digital transfer of funds using unified payment services, and soaring traffic over the internet, governments are drafting stringent AML laws and digital payment laws, to mitigate the cases of money laundering. In recent years, AML solution providers have been focusing on the introduction of new products to attract more customers.

For instance, in August 2020, Comarch SA launched a fraud detection system for small and medium enterprises (SMEs) and corporate banking. This system can reduce the effort in transaction screening as it can automatically flag suspicious transactions. Additionally, the system can be extended with artificial intelligence (AI) algorithms to develop models that can regulate the occurrence of specific events with high accuracy, based on historical data.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• 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

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Why Is Geriatric Population Boom a Key Surgical Simulation Market Driver?

The surgical simulation market is expanding on account of the increasing surgery volume, booming geriatric population, rising popularity of minimally invasive surgeries, and rapid technological advancements. Thus, the revenue generated from the sale of such solutions, which was $337.4 million in 2019, is predicted to display a healthy 16.4% CAGR between 2020 and 2030 (forecast period). Such simulators create virtual representations of real-life medical situations, so that students, as well as experienced doctors, can practice their skills.

The divisions on the basis of end user are hospitals, academic & research institutes, military organizations, surgical clinics, and others, which include nursing homes and fertility centers. In 2019, the highest market revenue was generated by the academic & research institutes division, as students are now demanding a first-hand training experience, before they operate on real patients. Moreover, even professionals are using simulators to improve their skills, as new medical procedures are being innovated. Even during the forecast period, this division is expected to witness the fastest advance in the industry.

Another key driver for the surgical simulation market is the booming geriatric population. The United Nations Department of Economic and Social Affairs (UNDESA) says that by 2050, the population of people in the 65-and-above age group will rise to 1.5 billion, from 703 million in 2019. The elderly suffer from more-serious diseases more often, which creates a need for long-term medical care. Therefore, the hospitalization rate, surgery volume, and chances of surgical complications in the elderly are higher, thus leading to the rapid adoption of surgical simulators.

Asia-Pacific (APAC) is projected to advance the most rapidly in the surgical simulation market during the forecast period. The geriatric population is increasing in the region, with the UN predicting the number of elderly people in India and China to reach 324 million and 437 million, respectively, by 2050. Moreover, medical procedures in the regional developing countries are cheaper than in developed countries, which is why hordes of people from the latter come to the former for treatment, thereby resulting in the increasing adoption of surgical simulation solutions for training.

Hence, as the volume of surgeries and number of older people increase around the world, so will the demand for surgical simulators for first-hand training.

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Development of Autonomous Vehicles Boosting Driving Simulator Market Growth

 Factors such as the burgeoning demand for vehicles, soaring number of research and development (R&D) initiatives in the domain of advanced driver-assistance systems (ADAS), and surging demand for skilled drivers, owing to the high road accident rate, will facilitate the driver simulator market during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1,525.6 million in 2020. Moreover, the surging need for skilled commercial vehicle drivers for logistics services will support the market growth in the foreseeable future.

Driving Simulator Market Outlook

In recent years, the advent of autonomous vehicles has become a prominent market trend. Automakers across the world are heavily investing in the development of components, such as sensors and processors, that are installed in autonomous vehicles. Nowadays, automotive original equipment manufacturers (OEMs) are using driving simulators to test the performance and capabilities of these components and features, as driving simulator systems deliver excellent testing competence in realistic surroundings. The rapid advancements being made in the autonomous technology will drive the demand for driving simulators in the coming years. 

At present, the driving simulator market is moderately consolidated in nature due to the presence of few players, such as Cruden B.V., MTS System Corp., Ansible Motion Ltd., NVIDIA Corp., AutoSim AS, OKTAL SYDAC, CAE Inc., Mechanical Simulation Corp., Dallara Group Srl, and Moog Inc. Nowadays, these players are focusing on product launches to gain a competitive edge in the market. For instance, in July 2020, Anthony Best Dynamics Ltd. introduced a static driving simulator that delivers high levels of driver immersion.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/driving-simulator-market

Geographically, North America held the largest share in the driving simulator market in 2020, due to the surging number of vehicles on North American roads. Moreover, the rising implementation of stringent government regulations for road safety and traffic control facilitates the market growth in the region. Additionally, the increasing advancements being made in the driving simulator technology, to prevent potential failures that might lead to driver injuries, are also contributing to the market growth in the region.

Thus, the increasing adoption of autonomous vehicles and booming need for enhanced driving experience will facilitate the market growth in the forecast years. 

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Radiofrequency Ablation Devices Providing Enhanced Pain Relief

 An increasing number of patients are opting for minimally invasive procedures, as they result in less scarring and pain and decrease the chances of infections related to open surgeries. For example, back pain can be treated by radiofrequency (RF) ablation procedures, which are minimally invasive, thus pose a lower risk of any complication after and during the treatment process. RF ablation devices destroy the nerve fibers in the spine to stop the pain signals from reaching the brain. Moreover, the increasing awareness and low cost of RF ablation treatment for pain relief will fuel the demand for these devices.

The application of these devices is surging among elderly patients, as they are more susceptible to health disorders and abnormalities. Apart from long-lasting pain, old people require minimally invasive treatments for several chronic diseases, such as cardiovascular diseases (CVDs) and cancer. According to the 2019 UN World Population Ageing report, the global population of people in the age group of 65 and above will be 1.5 billion in 2050. Owing to this reason, the revenue of the radiofrequency ablation devices market will increase from $3,173.5 million in 2019 to $11,080.3 million by 2030, at a CAGR of 12.6% during 2020–2030.

Due to the growing shift toward minimally invasive surgeries (MIS) from open surgeries, hospitals are deploying RF ablation products in large numbers, as they are the first point of contact for the diagnosis and treatment of diseases. Catheter systems are the most widely used RF ablation equipment in these healthcare settings to treat chronic diseases. The system includes electrodes and probes that are thrust into the affected body parts for ablation procedures. In addition to this, hospitals and ambulatory surgical centers (ASCs) also use generators and accessories for ablating or destroying the dysfunctional tissue inside the body.

Moreover, North America is expected to adopt the highest number of RF ablation devices in the future, as it has a large end-user base due to the rising cases of cancer and heart diseases. Moreover, the surging healthcare expenditure, favorable reimbursement ecosystem, and easy availability of RF ablation procedures will augment the use of these products in the region. To cater to this swelling demand, companies including Abbott Laboratories, Stryker Corporation, Baylis Medical Company Inc., RF Medical Co. Ltd., Boston Scientific Corporation, Johnson & Johnson, and AngioDynamics Inc. are launching new products and entering into mergers and acquisitions.

Thus, the shift toward MISs and high demand for pain relief procedures will boost the adoption of RF ablation devices in healthcare settings.

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Huge Growth Expected in Facial Skin Ablative Treatment Market in Future

Nowadays, people have become more conscious of their appearance and are willing to pay for energy-based aesthetic treatments, including laser skin resurfacing. Both women and men are undergoing aesthetic and cosmetic procedures to enhance their facial appearance. For example, the American Society for Aesthetic Plastic Surgery (ASAPS) states that liposuction and eyelid surgery/blepharoplasty were among the top five cosmetic surgical procedures opted by the female population of the U.S. in 2019. Whereas, the male population of the country mostly opted for liposuction, nose surgery, and eyelid surgery/ blepharoplasty.

Men and women across the world are increasingly opting for aesthetic and cosmetic surgeries due to an exponential rise in their disposable income. Among the various skin issues, wrinkles, aging, hyperpigmentation, acne, and scars are becoming increasingly prevalent among the populace. Acne and other scars are caused by stress, a sedentary lifestyle, which that triggers hormonal changes, and an imbalanced diet. Owing to the rising prevalence of such disorders, the facial skin ablative treatment market is expected to advance at a CAGR of 7.8% during 2020–2030. The market stood at $4,134.6 million in 2019, and it is expected to reach $8,394.3 million by 2030.

Geographically, North America registers the maximum number of facial skin ablative treatment procedures, and it will witness the same trend in the future. This will be due to the increasing consciousness among people regarding their physical appearance, growing awareness about the latest technologies, and rising cases of skin disorders, especially acne and other types of scars. As per the American Academy of Dermatology (AAD), nearly 50 million Americans are affected by acne annually. Moreover, the presence of major companies in the region will promote such treatments and procedures in the coming years.

Thus, the strong focus on physical appearance and rising awareness regarding aesthetic and cosmetic procedures are encouraging people to undergo facial skin ablative treatments.

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Advancements in IoT Boosting Edge AI Software Demand

As edge artificial intelligence (AI) is a combination of AI and edge computing, the burgeoning demand for intelligent applications, primarily on account of the rapid advancements in AI, will fuel the adoption of edge AI software in the coming years. Such intelligent applications need high computing power for constant collection and processing of information for providing significant and effective outcomes.

Thus, the surging requirement for the efficiency of ongoing data processing will boost the adoption of edge AI software in the forthcoming years. Moreover, advancements in internet of things (IoT) applications will propel the edge AI software market growth during the forecast period (2021–2030), as edge computing addresses the challenges related to IoT. 

According to P&S Intelligence, the market generated a revenue of $600 million in 2020. IoT applications deal with connecting devices and AI enables such devices to learn from the collected data. Further, IoT technology empowers the transmission of information between multiple stages of the production line or several parts of a machine over a wireless network.

Additionally, the rising workload of enterprises on the cloud will also propel the need for edge AI software in the foreseeable future. Business organizations around the world are rapidly shifting to cloud computing, owing to which the AI technology is gaining prominence.

AI applications deployed on cloud platforms have latency issues and offer slow responses. To overcome these challenges, enterprises are shifting toward edge AI software as it places the computer resources at the edge of the network, which helps in allowing applications to function with high bandwidth and low latency.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• 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

Read More