Why Are Automakers Using Wireless Charging Systems in Electric Vehicles?

Wireless chargers being used by various industries consist of transmitters and receivers. Wireless charging technology uses radio frequencies transmitted through a wireless charger and picked up by a receiver within the device to convert them into direct current (DC) voltage. Wireless chargers offer an easier charging experience to customers as the transfer of power through wireless technology is not dependent on the alignment of the receiver and transmitter. 

As many receivers are utilized to charge multiple devices from a single source, EV charging stations are deploying them in abundance. In the preceding years, the wireless charging market was dominated by North America, due to the presence of a large number of wireless charger manufacturers, such as Qualcomm Technologies Inc. and Plugless Power Inc., in the region. 

Wireless Charging Market Drivers and Growth Rate, Forecast by 2030

Moreover, the advancements in the charging technology in the medical equipment sector, especially in the U.S., and the expansion of the EV industry will also fuel the usage of wireless charging systems in the region in the forthcoming years. Owing to these reasons, North America will retain its dominance in the coming years as well.

Whereas, the Asia-Pacific (APAC) region will witness the fastest rise in the sales of wireless chargers in the forthcoming years, due to the burgeoning demand for EVs, such as smartphones, laptops, smartwatches, ear pods, gaming consoles, and personal digital assistants (PDAs) in the region. 

For instance, according to the Society of Manufacturers of Electric Vehicles (SMEV), 155,400 units of EVs were sold in India during the financial year 2019–20. Furthermore, the China Association of Automobile Manufacturers (CAAM) states that 200,000 new energy vehicles were sold in China in November 2020.

Therefore, the booming demand for EVs and consumer electronics will augment the adoption of wireless charging systems in the foreseeable future.

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Rising Aromatherapy Demand Fueling Essential Oils Market Growth

A number of factors such as the booming demand for aromatherapy, surging customer preference for natural products, and increasing consumption of essential oils in the cosmetics and food and beverage industries are expected to drive the essential oils market growth during the forecast period (2021–2030).  According to P&S Intelligence, the market generated a revenue of ~$11 billion in 2020. In recent years, the escalating use of essential oils at spas has become a prominent market trend, owing to the rising public awareness of skincare treatments.

The burgeoning demand for aromatherapy is one of the primary growth drivers for the market. Aromatherapy refers to an alternative treatment process that utilizes naturally harvested essences to support, harmonize, and balance the mental and physical health of patients. This treatment process uses essential oils as they activate the smell receptors in the nose, which convey information to the brain through the nervous system. The oil is also used to treat anxiety or chronic stress, fatigue, skin problems, depression, and respiratory infections.

Whereas, the Asia-Pacific (APAC) essential oils market is expected to showcase the fastest growth during the forecast period. This will be due to the surging availability and rising affordability of essential oils in the region. Additionally, the improving lifestyles of people and mounting awareness about such oils will facilitate the market growth in the region in the foreseeable future. Besides, the escalating awareness about the outcomes of aromatherapy and the booming number of patients suffering from chronic diseases will also augment the demand for essential oils in the region in the coming years. 

Thus, the increasing public awareness of aromatherapy and surging demand for natural products will fuel the market growth in the years to come.

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Asia-Pacific 1,5-Cyclooctadiene Market To Prosper in Coming Years

The global 1,5-cyclooctadiene market revenue stood at around $210.0 million in 2020, and the market is predicted to progress rapidly during 2020–2030 (forecast period). This is attributed to the surging adoption of various modern agricultural methods, which are driving the use of agrochemicals such as pesticides and fertilizers. In addition to this, the increasing industrialization and urbanization rates and soaring disposable income of people, especially in the Eastern countries, are also fueling the expansion of the market across the world. 

As 1,5-cyclooctadiene is a major raw material for polystyrene, which is heavily required in the production of food packaging, the burgeoning need for packaged meals, on account of the mushrooming population of working people in both developing and developed countries, is driving its demand. In addition, the growing preference of people for purchasing food products and groceries online is also pushing up the requirement for polystyrene packaging, which is, in turn, propelling the expansion of the market.

Across the globe, the Asia-Pacific (APAC) region contributed the highest revenue to the 1,5-cyclooctadiene market in 2020, as per the observations of P&S Intelligence, a market research company based in India. This trend is also expected to continue in the upcoming years. This is credited to the surging per capita income and the growing demand for personal care and home-use products in regional countries such as South Korea, China, Thailand, and India.

In recent years, the agriculture sector has witnessed the large-scale usage of the hydrocarbon, primarily because of the surging requirement for agrochemicals such as insecticides and fertilizers. Moreover, the ballooning utilization of agrochemicals for augmenting the crop yield and preventing the chances of crop losses is becoming highly essential for sustainable and organic agriculture, thereby driving the demand for 1,5-cyclooctadiene. Additionally, the rising scale of farming operations, especially in developing countries such as China, Brazil, India, South Africa, South Korea, and Indonesia, is expected to propel the need for 1,5-cyclooctadiene in the coming years.

Hence, the market will grow rapidly in the forthcoming years, primarily because of the burgeoning requirement for food packaging and processed food products, expansion of the personal care industry, and the surging usage of agrochemicals such as pesticides, insecticides, and fertilizers in farming processes all over the world.

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How Is Booming Construction Sector Fueling Mobile Cranes Market Growth?

A number of factors such as the expanding construction industry in developing countries, accelerating industrialization rate in emerging economies, and surging adoption of global positioning system (GPS) technology will support the mobile cranes market growth during the forecast period (2021–2030). The market generated a revenue of ~$13.0 billion in 2020. At present, the increasing frequency of product launches is becoming a prominent market trend. For example, in February 2021, Manitex Valla of Italy, a subsidiary of U.S.based Manitex International, introduced a remote-controlled and battery-operated electric mobile crane named V110 R.

One of the primary growth drivers for the market is the rising construction activities, owing to the booming world population. A spike in the population is encouraging the governments of several countries to invest in the construction sector. Moreover, the mounting purchasing power of people, escalating urbanization rate, increasing government efforts to provide affordable housing, and soaring investments being made in the construction of offices, hotels, retail centers, apartments, and civic infrastructure will also supplement the market growth in the forthcoming years.

In recent years, companies operating in the mobile cranes market have been focusing on mergers and acquisitions to gain a competitive edge. For instance, in August 2019. Tadano Ltd. acquired Demag Mobile Cranes to expand its product portfolio of lifting equipment. The former acquired eight lattice boom crawler crane models, which have a lift capacity of 400–3,200 tons. Similarly, in September 2019, Solley Equipment & Rigging LLC was acquired by Maxim Crane Works L.P. With this acquisition, the latter expanded its operations across the U.S. and improved its full-service, nationwide crane lifting, and rental solutions platform.

According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the mobile cranes market in 2020, and it is expected to retain its dominance throughout the forecast period. This can be primarily ascribed to the surging construction activities in developing countries, such as India, the Philippines, Indonesia, and China. Besides, the escalating purchasing power of people, increasing urbanization rate, burgeoning population, and rising government efforts to offer affordable housing will also augment the demand for mobile cranes in the foreseeable future. 

Thus, the flourishing construction industry and amplifying frequency of product launches will facilitate the market growth in the foreseeable future.

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Increasing Prevalence of Neurological Diseases Propelling Brain Implants Demand

 With the surging geriatric population in several countries, on account of the falling death rates and increasing life expectancy of people, the demand for brain implants is growing rapidly across the world. As per the findings of the United Nations (UN), the share of people aged 65 years and above in the global population increased from 6% in 1990 to 9% in 2019. Furthermore, the share will to rise to 16% by 2050, as per the estimates of the UN. 

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Additionally, according to the 2020 World Population Aging report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As geriatric people are highly vulnerable to various neurological diseases such as Parkinson’s, epilepsy, essential tremors, depression, and Alzheimer’s, their soaring population is augmenting the need for brain implants.

Spinal cord stimulation, vagus nerve stimulation, and deep brain stimulation are the most commonly used types of brain implant procedures around the world. Out of these, the demand for deep brain stimulation treatments is expected to surge sharply in the upcoming years. This will be because of the several advantages of deep brain stimulation over the other treatment procedures such as reduced stiffness, lesser difficulties in walking, and quicker reaction times. This treatment is usually prescribed to the patients who show no improvement in their condition from therapies over a period of at least five years. 

Across the globe, the brain implant market will register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the surging investments being made in research and development activities for developing long-term treatment procedures for psychiatric and neurodegenerative diseases and the presence of a rapidly improving healthcare infrastructure in the region.

Therefore, the demand for brain implants will rise tremendously in the forthcoming years, mainly because of the surging population of geriatric people and the rising prevalence of neurological diseases all over the world. 

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Disposable Medical Supplies Quickly Replacing Multiuse Products at Hospitals

 Every day, one in 31 hospital patients contracts a hospital-acquired infection (HAI) in the U.S., which, in total, lead to 1.7 million cases and 99,000 deaths in the country each year, says the Centers for Disease Control and Prevention (CDC). This and the generally high levels of hygiene to be maintained at such places have been driving the demand for disposable medical supplies. Moreover, the COVID-19 situation has raised the general awareness on disposable products as a means to prevent infections.

Access Report Summary on Medical Disposables Market Global Industry Analysis and Demand Forecast to 2030

Due to the combined effect of these factors, the medical disposables market revenue, as claimed by P&S Intelligence, will increase to $90 billion by 2030 from $51 billion in 2020. Medical settings are rapidly adopting disposable medical supplies ranging from surgical gloves and syringes to vital signs monitor electrodes and even the consumables used to sterilize medical products. The idea is since they are used only on one patient and then discarded, the chances of them accumulating pathogens from one patient and spreading them to another healthy one are extremely few.

One of the most-significant factors in this regard is age, which makes people vulnerable to diseases and injuries of all types. For instance, the American Heart Association (AHA) estimates the cardiovascular disease incidence in the U.S. at around 40%, 75%, and 86% for the age groups of 40–59, 60–79, and above 80, respectively. Thus, with the United Nations (UN) predicting the population in the age group of 65 and above to rise from 727 million in 2019 to 1.5 billion in 2050, a lot more hospitalizations are in the offing, which would definitely boost the demand for all types of medical supplies imaginable.

Presently, North America is the largest medical disposables market because of its advanced healthcare industry and high number of medical facilities. In addition, the medical reimbursement scenario here is rather favorable, which allows people to easily afford expensive care. Further, the COVID-19 situation is quite grave in the region, the U.S. being the country with the highest case and mortality counts, which has catapulted the demand for disposable medical supplies.

Hence, with the rising number of hospitalizations and medical examinations amid the growing awareness on hospital hygiene and HAIs, the demand for disposable medical supplies will continue to surge.

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Increasing Adoption of Automotive Electronics Fueling Automotive Diagnostic Scan Tools Demand

 With the surging sales of automobiles, enactment of strict emission norms, and increasing complexities associated with automotive electronics, particularly in connected cars, the demand for automotive diagnostic scan tools is rising sharply. The rising urbanization rate, especially in developing countries such as India, Indonesia, and China, is propelling the requirement for automobiles. As diagnostic scan tools are critical for the efficient and smooth operation of automobiles, their demand is soaring, owing to the expansion of the automobile industry.

In addition, the governments of many countries have made maintenance and inspection checks mandatory in order to reduce the emission of greenhouse gases from vehicles, which is also pushing up the demand for automotive diagnostic tools. For example, the Environmental Protection Agency (EPA) enacted the Clean Air Act and amended it in 2001, which made the administration of vehicle maintenance and inspection programs mandatory for 33 local regions and states in order to curb vehicular emissions and meet the required air quality standards via the use of on-board diagnostics (OBD) technology. 

Therefore, in order to resolve any issues associated with these automotive electronics, automotive diagnostic scan tools are required. Due to these factors, the automotive diagnostic scan tools market is exhibiting huge expansion. Automotive diagnostic scan tools are required for maintaining and repairing both commercial and passenger vehicles. Between these, the usage of these tools is predicted to rise rapidly in passenger vehicles in the coming years. This is ascribed to the growing deployment of passenger cars across the globe. Apart from this, the mushrooming requirement for greater vehicle safety is also pushing up the requirement for these tools, as per the observations of the market research company, P&S Intelligence. 

Hence, it can be said with confidence that the demand for automotive diagnostic scan tools will surge sharply in the forthcoming years, primarily because of the growing sales of automobiles and increasing complexities associated with various automotive electronics. 

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North America To Be Largest User of Label-Free Detection Technologies

 Two of the biggest causes of death worldwide are cardiovascular diseases (CVDs) and cancer, which carry an annual mortality of 17.9 million and 9.6 million, respectively, according to the World Health Organization (WHO). Other common chronic diseases are chronic obstructive pulmonary disease, which affects more than 250 million, and diabetes, from which at least 422 million suffer each year. This high case count, which is rising every year, is propelling research and development (R&D) activities in the fields of diagnosis and treatment.

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As per P&S Intelligence, the growing chronic disease incidence will drive the label-free detection technology market from $1,197.5 million in 2019 to $3,097.4 million by 2030, at a 9.0% CAGR between 2020 and 2030. During drug discovery, the tissue or cell on which the effect of an investigational drug is to be tested is attached to a label, or tag, which helps in detecting the activity of the drug on it. The label-free detection technology eliminates the requirement for labeling, instead, using the size, molecular weight, electrical impedance, charge, refractive index, and dielectric permittivity of the drug in the tissue.

For all such purposes, a range of technologies are used, such as surface plasmon resonance (SPR), mass spectrometry, microplates/reader-based technology, bio-layer interferometry (BLI), and calorimetry. Among these, mass spectrometry is used the most widely, on account of its preference among researchers to ascertain the structural characteristics of the bound proteins and derive information about molecules. In the coming years, the usage of SPR will rise rapidly, as it is cost-effective and reproducible, requires minimal sample volumes, and uses a continuous flow mechanism.

Hence, as the demand for novel drugs to combat chronic diseases and keep the mortality count low increases, so will the requirement for the instruments and consumables used for label-free detection.

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Why Are Customers Shifting To Online Grocery Retailers?

According to the World Bank, approximately 80% people in developed countries and nearly 35% in emerging economies have access to the internet. The surging internet penetration will, therefore, steer the online grocery market growth in the forthcoming years. Additionally, the rising preference for e-payment services will also encourage customers to purchase their groceries from online platforms. Moreover, the increasing security of e-payment solutions, owing to the development of encrypted platforms, will also promote the practice of online grocery shopping.

Online Grocery Market Outlook

Besides, the soaring number of smartphone users and mounting population of tech-savvy consumers will also popularize the usage of e-commerce platforms for grocery shopping. Smartphone users are using their devices to opt for home delivery or click-and-collect options of procuring groceries from online platforms. In recent years, customers have been preferring the home delivery option over the click-and-collect service, due to the higher convenience offered by the former. Apart from smartphones, tech-savvy customers are also placing their orders from other smart devices such as smart TVs, tablets, and laptops.

According to P&S Intelligence, Europe dominated the online grocery market in the preceding years, due to the booming population of baby boomers and rising internet penetration in the region. Whereas, the Asia-Pacific (APAC) market is projected to progress at the highest rate in the foreseeable future. This can be ascribed to the fact that the online grocery shopping is the most favored option in China. Among APAC nations, India will shift toward online grocery shops at the fastest pace, due to the rising internet penetration and increasing work pressure on people.   

Therefore, the rising internet and smartphone penetration, booming tech-savvy population, and increasing use of e-payment systems will encourage more people to shop grocery online, across the world.  

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How Is Biomedical Industry Supporting Chlorobenzene Market Growth?

Factors such as the burgeoning demand for personal care and pharmaceutical products and the widening application base of chlorobenzene in the chemical industry will drive the chlorobenzene market growth during the forecast period (2021–2030). Moreover, the booming demand for high-performance polymers and agrochemicals will also support the market growth in the coming years. According to P&S Intelligence, the market revenue reached around $2.3 billion in 2020. Additionally, the increasing use of chlorobenzene as a solvent in the rubber industry will also augment the demand for the compound in the upcoming years.

Chlorobenzene is majorly used as a solvent in the synthesis of pesticide and insecticide formulations, organic chemicals, drugs, di-phenyl oxide, di-isocyanate, and nitrobenzene. With rapid industrialization and globalization, the demand for chlorobenzene from manufacturing and chemical facilities will escalate at a significant rate in the foreseeable future. Thus, the flourishing chemical industry will drive the demand for this compound in the forthcoming years. Besides, the increasing use of chlorobenzene for degreasing automobile parts will also boost the market growth in the forecast years, owing to the mounting automobile sales.

The type segment of the chlorobenzene market is categorized into monochlorobenzene, paradichlorobenzene, orthodichlorobenzene, and others, such as m-Dichlorobenzene, hexachlorobenzene, tetrachlorobenzene, and trichlorobenzene.  Among these, the paradichlorobenzene category is expected to demonstrate the fastest growth during the forecast period. This will be due to the booming production of polyphenylene and polyphenylene sulfide, both of which need paradichlorobenzene as a raw material. Moreover, the increasing production of paradichlorobenzene in the U.S., Japan, and China will support the growth of this category in the upcoming years.

Geographically, Asia-Pacific (APAC) accounted for the largest share in the chlorobenzene market during the historical period (2015–2020), and it is expected to retain its dominance throughout the forecast period. This can be attributed to the increasing consumption of chlorobenzene in the production of herbicides and polyphenylene sulfide resin in the region. China is the largest producer and consumer of chlorobenzene in the world, due to the presence of a strong manufacturing base in the country.

Thus, the booming demand for pharmaceutical products and the growing chemical industry will complement the market growth in the coming years.

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How is COVID-19 Pandemic Affecting Corporate Wellness Market?

 The surging focus of enterprises on employee wellbeing and health, on account of the increasing incidence of chronic diseases and the sedentary character of various jobs, is driving the growth of the global corporate wellness market. According to the estimates of the market research company, P&S Intelligence, the market revenue will rise from $51 billion in 2020 to more than $100 billion by 2030. Additionally, the burgeoning requirement for employee wellness perks is also fueling the expansion of the market.

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As per the World Health Organization (WHO), in 2016, more than 1.9 billion people in the age bracket— 18 years and above— were overweight. Furthermore, the organization reported that over 650 million people were obese across the world in the same year. This is primarily credited to the sedentary lifestyles and poor dietary habits of people and the lack of physical exercise. According to a study conducted by the National Library of Medicine under the U.S.’s National Institutes of Health, globally, one out of every three persons suffers from chronic diseases. 

For example, Google LLC launched a program called the TEA Check-ins in July 2020, as part of its employee training program. It is basically an acronym for energy, attention, and thoughts and it was launched to address workplace-related exhaustion and stress. Depending on service type, the corporate wellness market is divided into fitness, health risk assessment, smoking cessation, nutrition & weight management, stress management, and health screening. Out of these, the health risk assessment category contributed the highest revenue to the market in 2020.

Moreover, their strong finances and bigger operating budgets allow them to deploy corporate wellness programs, which is usually not possible for smaller organizations due to their budgetary constraints. Across the globe, the corporate wellness market is expected to register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This is attributed to the booming working population and the soaring public awareness about health and mental wellbeing in the region.

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Professional Acne Treatment Market To Generate $13,124.5 Million Revenue by 2030

Factor such as the rising cases of acne, surging adoption of acne treatments, growing healthcare spending, increasing disposable income, sedentary lifestyle, strong product pipeline, and mounting number of research programs are expected to propel the professional acne treatment market at a CAGR of 7.6% during 2020–2030. According to P&S Intelligence, the market size is expected to reach $13,124.5 million by 2030 from $6,298.9 million in 2020. Moreover, the market is observing the rising number of product launches and research and development (R&D) activities.

Emerging economies are providing lucrative opportunities to the professional acne treatment market players, which include pharmaceutical and medical device companies. Although developing countries have a huge potential consumer base, their low awareness on the condition and treatments available has led to low product sales. But, with the growing influence of the Western culture driving appearance consciousness here, market players have a good opportunity to tap the unexplored potential of the market here and increase their revenue.

Moreover, based on professional type, the professional acne treatment market is bifurcated into dermatologists and cosmeticians. Between the two, the dermatologists category dominated the market during the historical period (2014–2020), and it is projected to lead the market in the coming years as well. This is attributed to the rising number of skilled dermatologists around the world. Furthermore, patients prefer to visit dermatologists for the treatment of acne due to their extensive experience in dealing with the problem.

Thus, the surging incidence of acne and the increasing healthcare spending are expected to drive the market growth in the coming years.

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Falling Infant Mortality Rate Driving Expansion of Baby Food Market

 Due to the growing population of working mothers, surging concerns being raised by parents over infant nutrition, falling infant mortality rate, soaring public awareness about innovative baby food products, and increasing urbanization rate and organized retail marketing activities, the global baby food market revenue is predicted to rise from $30.0 billion in 2020 to $53.9 billion by 2030. Furthermore, the market will progress at a CAGR of 6.1% from 2021 to 2030 (forecast period), as per the estimates of the market research firm, P&S Intelligence. 

As working women are actively focusing on the nutritional needs of their babies, their mushrooming population all over the world is driving the sales of baby food products. As per the Office for National Statistics (ONS), in England, the share of working mothers in the total population of mothers rose from 69% in 2013 to 74% in September 2018. Additionally, as per the data released by the Catalyst, which is a non-profit organization that works with more than 800 companies across the world for accelerating women into leadership positions, in India, 20.3% of the women in the age group—15 years and older—were working in 2020.

This is credited to the growing public preference for buying baby food products via various e-commerce platforms over other distribution channels. Across the globe, the Asia-Pacific (APAC) region generated the highest revenue in the baby food market in 2020 and it is predicted to be the fastest growing region during the forecast period as well. This will be because of the surging population of working women, high birth rates, soaring disposable income of people, ballooning public awareness about baby food products, and increasing research and development (R&D) activities being carried out by several baby food producing companies in the region. 

Hence, the sales of baby food products are certain to shoot up in the coming years, owing to the surging population of working women, growing disposable income of people, falling infant mortality rate, and rising public awareness about infant nutrition all over the world. 

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How Is Research in Renewable Energy Boosting Biodiesel Market Growth?

Factors such as the escalating concerns over the rising greenhouse gas emissions and mounting need for biodiesel-based fuel, owing to the environmental concerns associated with fossil fuel combustion, will steer the biodiesel market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $39.0 billion in 2020. Besides, the soaring number of research and development (R&D) projects being launched in the renewable energy sector and rising number of government initiatives and regulations mandating the adoption of biodiesel will also facilitate the market growth in the upcoming years.

The soaring concerns being raised over carbon dioxide (CO2) and greenhouse gases, such as carbon monoxide (CO), hydrocarbons (HCs), and Nitrogen Oxides (NOx) emissions act as the key contributor to the market growth. Biodiesel emits 50% lesser greenhouse gases than conventional fuels and it is also free of aromatic and sulfur compounds. For instance, according to the U.S. Energy Information Administration (EIA) and the U.S. Environmental Protection Agency (EPA), in 2019, around 43 billion gallons of biodiesel were consumed in the U.S.

Geographically, Europe accounted for the largest share in the biodiesel market in 2020. This was due to the soaring number of government initiatives and regulations for mitigating greenhouse gas emissions in the region. For instance, the Euro VI emission vehicle emission standards on the New European Driving Cycle (NEDC) limit the emission of CO, HC+NOx, and NOx from diesel-powered light-duty vehicles to 0.5 g/km, 0.17 g/km, and 0.08 g/km, respectively. Whereas, the gasoline light-duty vehicles have an emission limit of 1.0 g/km, 0.1 g/km, and 0.06 g/km of CO, HC, and NOx, respectively.  

Therefore, the growing concerns being raised over the rising greenhouse gas emissions and escalating R&D expenditure in renewable energy production will fuel the market growth in the coming years. 

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Why are Sales of Smart Eyewear Glasses Surging in North America?

With the growing public awareness about health and fitness, rapid innovations in sensor technology, and increasing requirement for digital instruments in the smart textiles, consumer electronics, and fitness and sports industries, the demand for smart eyewear is surging sharply across the world. Smart eyewear is basically a wearable computing device, which displays information and helps people see clearly with the help of a head mounted display or optical computerized internet connected glasses, with transparent augmented reality or heads up display. 

Industry Outlook for Smart Eyewear Market

Accelerometer, gyroscope, image sensors, pressure sensors, thermometers, and touch sensors are the major sensors used in smart glasses. North America is currently dominating the global smart eyewear market, as per the observations of P&S Intelligence, a market research company based in India. This is credited to the high obesity rate and the presence of a large population in the region. In the coming years, the demand for smart eyewear is predicted to rise at the fastest pace in the Asia-Pacific (APAC) region. This will be because of the expansion of the healthcare industry in the region. 

Other smart eyewear manufacturing companies are focusing on providing improved reality experiences via their offerings. For instance, Vuzix, which is a U.S. based company, is offering a range of advanced smart glasses such as STAR 1200XLD and Wrap 920AR. Other smart eyewear market players such as Meta are offering smart glass equipped with infrared and high definition (HD) cameras with translucent displays. The smart glasses developed by Meta allow wearers to use gestures to control augmented reality objects which fall directly in their field of vision. 

Hence, it is clear from the above-mentioned paragraphs that the demand for smart eyewear glasses will rise tremendously in the coming years, primarily because of the growing consumer awareness about advanced technologies, burgeoning requirement for smart wearable devices, and growing need for digital devices in the consumer electronics, smart textiles, and fitness and sports industries across the world. 

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Increasing Demand for Micromobility Solutions Fueling Kick Scooter Sales

The increasing adoption of kick scooters in kick scooter sharing services is fueling their sales across the world. As compared to the other types of vehicles used by shared mobility service providers, electric kick scooters can be easily leveraged for solving the issue of last-mile connectivity and they can also be hyper-localized. Moreover, these vehicles are highly compact, easy to operate, and do not need any physical exertion, which further boost their popularity among shared mobility service providers. 

Additionally, many companies have started providing their scooter sharing services in different locations, which has also propelled the growth of the kick scooter market. For example, Sharing Muving SL, which is a Spanish electric scooter sharing company, announced in 2018 that it has started offering its service in Atlanta, the U.S. Furthermore, Neutron Holdings Inc., which operates under the name LimeBike, launched dockless electric kick scooters and bikes for sharing in many cities in the U.S. in 2017. 

Furthermore, the declining prices of these batteries are also boosting their sales across the world. Geographically, the demand for kick scooters is currently the highest in the Asia-Pacific (APAC) region, as per the observations of P&S Intelligence, a market research company based in India. This is attributed to the large-scale deployment of these scooters in China. The existence of many major electric kick scooter manufacturing companies, rapidly developing electric vehicle value chain, implementation of favorable government policies, availability of affordable batteries, and the presence of a large customer pool are the main factors propelling the sales of these vehicles in the country. 

Hence, the demand for kick scooters will surge sharply in the upcoming years, primarily because of their soaring adoption in shared mobility fleets, growing popularity of micromobility solutions, owing to the increasing road congestion levels, rising requirement for better last-mile connectivity, and falling prices of lithium-ion batteries all over the world. 

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Small Joint Reconstructive Implants Market to Witness 5.5% CAGR during 2019–2024

According to the Global Burden of Disease Study, 2017, about 16% of disability cases were a result of musculoskeletal conditions, which is the second-largest cause of global disability. These conditions comprise more than 150 diagnoses that affect the bones, muscles, joints, and associated tissues — collectively referred to as the locomotor system. The most common and disabling musculoskeletal conditions are osteoarthritis and systemic inflammatory conditions, such as rheumatoid arthritis (RA). The prevalence of RA lies between 0.3 and 1%, and the condition more commonly affects females. Further, globally, symptomatic osteoarthritis affects 9.6% men and 18% women over 60 years of age.

Moreover, with aging, numerous changes occur in the cartilage and connective tissue. The joints become less resilient and more susceptible to damage due to the thinning of the cartilage and altering of its components (proteoglycans — supportive structures of the cartilage). This may either lead to osteoarthritis or stiffness in the joints; therefore, elderly people are more susceptible to such conditions as compared to young people. Many European countries, such as Italy, Germany, France, and Spain, are witnessing an increase in the geriatric population. This is resulting in the growing demand for diagnostic techniques and treatments for bone-related disorders. This factor, along with the rising prevalence of musculoskeletal diseases, is contributing to the increasing requirement for small joint reconstructive implants. 

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The highest usage of small joint reconstructive implants was observed in the North American region, among all other regions, such as Middle East & Africa, Europe, Latin America, Europe, and Asia-Pacific (APAC), in the past. This was attributed to the well-established healthcare industry in the region, technological advancements, and high adoption rate of such implants. In the coming time, the fastest growth in demand for small joint reconstructive implants will be registered by the APAC region.

This can be ascribed to the sedentary lifestyle of people and growing incidents of road accidents. The World Health Organization reported that in China, road traffic injuries are the major cause of death of people in the 15–44 age group. Further, India is also witnessing a surge in road accidents, which is adding to the demand for joint implants in the region.

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Stable Growth Predicted in Aspiration and Biopsy Needles Market in Coming Years

One of the most important factors leading to the rising demand for aspiration and biopsy needles is the increasing prevalence of cancer across the world. According to the World Health Organization (WHO), the number of people who died from cancer stood at 9.6 million in 2018. Furthermore, the number of people suffering from malignant tumors will increase from 12.7 million in 2008 to 21.4 million in 2030, which will considerably boost the demand for aspiration and biopsy needles, on account of the fact that biopsy and aspiration procedures are extensively used for studying the nature of tumors.

The other major factors contributing to the surge in the demand for aspiration and biopsy needles are the rising popularity of minimally invasive surgeries, soaring healthcare expenditure in several countries, and rapid technological innovations in the devices used for disease diagnosis. Due to these factors, the global aspiration and biopsy needles market size is predicted to increase from $801.5 million in 2019 to $1,717.9 million in 2030. The market is expected to progress at a CAGR of 7.2% during the forecast period (2020–2030).

For More Information Aspiration and Biopsy Needles Market Report 

Geographically, the highest usage of aspiration and biopsy needles was observed in North America in 2019, mainly due to the rising awareness in the region about the early cancer diagnosis processes, soaring healthcare spending, and surging number of devices being granted approval by the USFDA. The fastest growth in the adoption of aspiration and biopsy needles is expected to be witnessed in the Asia-Pacific (APAC) region during the forecast period. This is primarily ascribed to the increasing pool of cancer patients and rising awareness regarding the various cancer diagnosis methods available in the region.

Therefore, owing to the rising incidence of cancer, increasing healthcare expenditure, and surging awareness amongst the people throughout the world about the various cancer diagnosis processes, the demand for aspiration and biopsy needles will observe significant growth in future.

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Demand for Radiotherapy Projected to Rise in Asia-Pacific

 The number of cancer cases has been rising all across the globe over the past few years. As per the American Institute of Cancer Research, by 2030, the number of new cancer incidence is expected to reach 25 million. The prevalence of cancer is further predicted to be the highest in low and middle-income countries, including India and China. Cancer is among the most common chronic diseases around the globe, and was responsible for 9.6 million deaths in 2018, as per the World Health Organization. 

The prevalence of cancer can be decreased by providing efficient medical care at initial stage of the disease, which can be done by radiotherapy and chemotherapy. Radiotherapy is majorly used for treating cancer, reducing the risk of cancer coming back if a person goes through surgery, and relieving symptoms if the patient cannot be cured. It is considered the most effective treatment for cancer, however, its effectiveness varies from person to person. According to a report by P&S Intelligence, the global radiotherapy market is expected to generate a revenue of $17,194.4 million by 2030, increasing from $7,222.4 million in 2019, advancing at an 8.4% CAGR during the forecast period (2020–2030).  

Other than this, the demand for radiotherapy is also predicted to rise in Asia-Pacific, thereby making the region the fastest-growing radiotherapy market in the coming years. This is because of the increasing burden of cancer, rising investments by private and public organizations, and improving healthcare infrastructure. As per the Global Cancer Observatory, in 2018, 883,395 cancer cases were reported in Japan, and the number is predicted to rise to 3.5 million by 2025. 

Hence, the market is growing due to the surging prevalence of cancer across the globe.   

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Wireless EV Chargers Facilitating Hassle-Free Long Drives

The International Energy Agency (IEA) reveals that the global stock of plug-in hybrid vehicles (PHEVs) , battery electric vehicle (BEVs) , and fuel cell electric vehicle (FCEVs) stood at 3,346,713 units, 6, 850,327 units, and 31,225 units, respectively, in 2020. By 2030, the stock of PHEVs, FCEVs, and BEVs will rise to 44,355,904, 1,152,588, 79,975,992, respectively 2030. Whereas, the global stock of BEV and PHEV electric buses is expected to surge from 515,400 in 2020 to 3,217,713 by 2030 and 81,898 in 2020 to 358,921 by 2030, respectively.  

Wireless EV Charging Market Outlook

   

Thus, the surging adoption of EVs will augment the need for fast charging options, owing to which the wireless EV charging market will advance at a significant rate during 2020–2030. To establish a fast EV charging infrastructure, several charging station developers are focusing on investing in research and development (R&D) in wireless technology. The installation of dynamic wireless systems on EVs allows them to be charged while on the move. Moreover, the absence of charging cables in wireless systems makes it more user-friendly than cable charging systems.

According to P&S Intelligence, Asia-Pacific (APAC) will dominate the wireless EV charging market in the foreseeable future. This will be due to the escalating EV adoption in developing countries, such as India and China, and developed countries, such as Japan. In recent years, China has emerged as an active participant in the EV charging industry, due to the rapid development of advanced inductive chargers. For example, in 2016, Zhejiang VIE Science & Technology Co. Ltd. and Evatran Group Inc. formed a joint venture to integrate PLugless, a wireless charging system of the former, into the EVs being manufactured in China.

Thus, the soaring number of EVs, owing to the mounting environmental concerns and escalating government support, will augment the installation of wireless EV chargers in the forthcoming years. 

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Surging Healthcare Expenditure Powering Sales of Prostate Cancer Treatment Devices in U.S.

 The availability of automated, efficient, and advanced clinical tools and the emergence of extremely accurate forms of medical treatment such as image-guided radiation therapy (IGRT), stereotactic radiosurgery (SRS), and brachytherapy are pushing up the demand for prostate cancer treatment devices in the U.S. For example, Accuray Incorporated developed CyberKnife S7 System, which is a device equipped with synchronization treatment delivery and real-time artificial intelligence (AI)-driven motion tracking for all stereotactic body radiation therapy (SBRT) and SRS treatments, in June 2020.

This device is the next-generation CyberKnife platform, which is a non-invasive and a robotic radiation therapy device that can treat benign and cancerous tumors all over the body, including those in prostate glands. The increasing incidence of prostate cancer is another major factor boosting the sales of prostate cancer treatment devices in the country. According to the American Cancer Society (ACS), one of the most prevalent types of cancers in male persons in the U.S. is prostate cancer. 

Additionally, the organization predicts that the country will witness as many as 191,930 new prostate cancer cases in 2020. With the increasing incidence of prostate cancer, the requirement for several types of treatment equipment such as those used in surgery, cryotherapy, and radiotherapy will surge in the coming years. The soaring number of government initiatives being launched and the surging healthcare expenditure in the country are also propelling the sales of prostate cancer treatment devices.  

The federal government spends a huge portion of the country’s GDP on healthcare every year. According to the National Health Expenditure Accounts (NHEA), in the U.S., the healthcare spending increased by 4.3% and reached $3.3 trillion in 2016. In 2017, the healthcare expenditure further rose to 5.4%. The increasing healthcare expenditure is making the management and treatment of many diseases highly affordable by reducing the prices of prostate cancer treatment devices.  

The mushrooming sales of these devices are fueling the growth of the U.S. prostate cancer treatment devices market. According to the estimates of the market research firm, P&S Intelligence, the valuation of the market would grow from $95.9 million in 2019 to $157.1 million by 2030. The market will demonstrate a CAGR of 5.6% from 2020 to 2030. Surgery, radiation, high-intensity focused ultrasound (HIFU), and cryotherapy are the main types of prostate cancer treatment devices used in the country. 

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Why are Sales of Skincare Dermacosmetics Products Soaring in India?

India has witnessed rapid economic progress in recent years, which has subsequently resulted in a massive rise in the disposable income of its citizens. As per the data produced by Trading Economics, in India, the disposable income grew from $2,738.1 billion in 2018 to $2,935.9 billion in 2019. Moreover, with the country predicted to witness sharp economic growth in the coming years, the purchasing power of its citizens will further shoot up.

This will, in turn, propel the sales of skincare dermacosmetics products in the country in the coming years. Besides the increasing disposable income of people, the rising inclination of people for having a good physical appearance is also propelling the sales of skincare dermacosmetics products in the country. People are making huge investments for brightening and maintaining their skin and using products for mitigating the occurrence of acne marks and the signs of aging such as fine lines and wrinkles.

Furthermore, as per the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 8.5% between 2020 and 2030. The major brands that sell skincare dermacosmetics products in the country are Neutrogena, Avène, L’Oréal (Skinceuticals and CeraVe), A-Derma, Galderma and Cetaphil, BIODERMA, Clinique, Sebamed, Ducray, Clarins, and Shiseido. Out of these, the demand for products developed by Avène was found to be the highest in the country in 2019. 

This was mainly because of the availability of a diverse range of products and patented technologies developed by the company for addressing various skin problems and concerns. The major application areas of skincare dermacosmetics products in the country are wrinkles and fine lines, acne, dark circles, skin repair, scars, and psoriasis. Out of these, skin repair applications are predicted to generate the highest demand for skincare dermacosmetics products in the coming years. 

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Why are Sales of On-Board Chargers Rising Sharply?

The mushrooming demand for electric vehicles is encouraging electric vehicle charging system manufacturers to focus on developing technologically advanced and innovative variants. Moreover, with the surging concerns being raised over the deteriorating environmental conditions, many electric vehicle manufacturers are making huge investments in research and development (R&D) projects in order to fuel advancements in the electric vehicle technology. For instance, Fiat Chrysler Automobiles N.V. announced in July 2019 that it intends to make an investment of $788 million (EUR 700 million) for developing a manufacturing line for the newer models of its Fiat 500 minicar.

Industry Outlook for On-Board Charger

This manufacturing line will enable the production of around 80,000 units every year. These investments are causing a sharp fall in manufacturing costs, which is, in turn, leading to the production of affordable electric vehicles. This is subsequently pushing up the demand for on-board chargers. These projects have led to the development of batteries having increased power densities. Besides, the increasing deployment of alternating current (AC) charging stations in emerging economies is also fueling the expansion of the on-board charger market.

This is primarily ascribed to the deployment of numerous AC chargers, as they are majorly used at homes for charging electric vehicles. As these chargers are cheaper than the other variants, they are being preferred by people throughout the world. Some of the major on-board charger manufacturing companies across the world are NXP Semiconductors N.V., Delta-Q Corporation, Delphi Technologies PLC, Eaton Corporation plc, Delta Electronics Inc., Avid Technology Inc., Toyota Motor Corporation, Infineon Technologies AG, and LG Chem Ltd.

Hence, it can be said without any doubt that the demand for on-board chargers will surge sharply in the forthcoming years, primarily because of the growing deployment of electric vehicles and the development of technologically advanced charging systems, on account of the surging investments being made by industry players across the world. 

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Optical Amplifier Market Future Trends, Prominent Players, Covid 19 Impact and Forecast by 2030

A number of factors such as the soaring infrastructural investments, rising technological advancements in wireless sensor, mounting number of data centers, burgeoning demand for data transmission without data losses for longer distances, and surging number of smart cities and smart homes will act as a growth driver for the optical amplifier market. An optical amplifier refers to a device that directly amplifies an optical signal and generates an output signal with elevated optical power without converting it to an electrical signal. 

This device has completely transformed networking and communication systems. Categories under the type segment of the optical amplifier market are Raman amplifier, earth doped fiber amplifier (EDFA), and semiconductor optical amplifier. In 2019, the EDFA category generated the highest revenue in the market, as this amplifier is an important component in long-range optical fiber communication. Due to the large gain bandwidth of EDFA, it is utilized in data channels with high data rate. 

As compared to the other amplifiers, EDFA is more reliable and has a longer lifetime. The end user segment of the optical amplifier market is classified into aerospace, industrial, healthcare, telecommunication, data center, military and defense, and others. Among these, the telecommunication category is expected to account for the largest market share, primarily on account of the rising use of optoelectronic devices, such as optical amplifiers, and optical fiber for communication medium. 

Whereas, the data center category will hold the second position in the market in the coming years, due to the surging need for multiple devices, servers, and devices, using optical amplifiers, in data centers. According to P&S Intelligence, Asia-Pacific (APAC) is expected to account for the largest share in the optical amplifier market in the coming years. This can be attributed to the increasing penetration of smartphones and expanding broadband user base in the region. 

For instance, according to the India Cellular & Electronics Association (ICEA), the number of smartphone users in India will rise from 500 million in 2019 to 829 million by 2022. ICEA also states that the average monthly data consumption of an individual will reach 18 GB by 2024.

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Facial Care Products Helping People Look Fresher and Younger

Facial care products, such as face wash, face creams, face masks, moisturizers, cleansers, scrubs, serums, and toners are gaining prominence among the working class,  as they alleviate stress and signs of aging and revitalize the skin, which, in turn, helps people look fresh even after long working hours. For instance, Tata Harper aromatic stress treatment, Estée Lauder stress relief eye mask, and Vitruvi facial spray help in increasing facial glow and alleviating the stress of end-users.

Moreover, the booming geriatric population will also support the facial care market growth in the foreseeable future. As aging leads to skin loosening, old people across the world are increasingly opting for anti-aging creams, owing to the rising consciousness among this age pool to look younger. The United Nations Department of Economic and Social Affairs (UNDESA) estimates that the population of people aged 65 years or above will surge from 727 million in 2020 to more than 1.5 billion by 2050.

According to P&S Intelligence, Asia-Pacific (APAC) will dominate the facial care market in the forthcoming years. This will be due to the mounting disposable income of people, escalating appearance consciousness among people, and surging public awareness about the benefits of facial care products in the region. For instance, the Reserve Bank of India reveals that the net disposable income of people in India increased from INR 15,534,214 in the financial year 2017–18 to Rs.17,258,624 in the financial year 2018–19.

Thus, the soaring work stress level and burgeoning population of geriatric people will augment the use of facial care products in the upcoming years. 

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Surging Geriatric Population Driving Worldwide Demand for Contact Lenses

With the surging population of geriatric people, the demand for contact lenses is soaring across the globe. According to the 2020 World Population Aging report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As vision ailments are highly prevalent among geriatric people, the ballooning population of older people is fueling the sales of contact lenses.

Out of the daily wear, traditional wear, and extended wear contact lenses, the demand for the daily wear contact lenses was found to be the highest in 2020. This was because of the high risk of vision ailments, which became a major concern, on account of the regular wearing of masks by people to reduce the spread of the COVID-19 infection. 

Furthermore, the rising incidence of vision ailments, on account of the increasing screen time of people, is massively boosting the demand for spherical lenses across the world. Geographically, North America was the dominant region in the contact lenses market in 2020. This was primarily because of the presence of a large geriatric population and the high prevalence of vision ailments in the region. In addition to these, the adoption of sedentary lifestyles and the surging screen time of people have massively increased the occurrence rate of vision ailments in the region, thereby propelling the requirement for contact lenses.

Hence, it is clear from the above paragraphs that the demand for contact lenses will rise enormously in the forthcoming years, primarily because of the mushrooming population of geriatric people, increasing per capita income in several countries, surging healthcare expenditure, and the growing prevalence of vision ailments across the world. 

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Hot and Cold Therapy Packs Market To Generate $2,008.2 Million Revenue by 2030

The rising prevalence of orthopedic diseases, growing aging population, increasing healthcare spending, mounting number of sports injuries, rising number of product launches, surging adoption of non-invasive pain management therapies, and increasing number of road accidents are projected to propel the hot and cold therapy packs market at a 7.7% CAGR during 2021–2030. At this rate, the market size will reach $2,008.2 million by 2030 from $981.9 million in 2020. Moreover, the market is witnessing the shifting patient preference from medicines toward non-pharmaceuticals and non-invasive pain management therapies. 

The type segment of the hot and cold therapy packs market is bifurcated into cold therapy packs and hot therapy packs. Between the two, the cold therapy packs category led the market during the historical period (2015–2020), and it is projected to dominate the market in the coming years as well. This can be ascribed to the high preference of people suffering from chronic bone and joint pain for cold therapy packs. Moreover, athletes use these packs widely for reducing the inflammation and pain caused by sports injuries.

Additionally, on the basis of application, the hot and cold therapy packs market is classified into sports injuries, neuropathic pain, and post-surgical pain. According to P&S Intelligence, among these applications, the sports injuries category generated the highest revenue in 2020, and it is also projected to record the fastest growth in the coming years. This can be attributed to the high usage of hot and cold therapy packs for the treatment of sports injuries, as sportspersons prefer non-invasive pain relief therapies widely, across the globe. 

Geographically, Asia-Pacific (APAC) hot and cold therapy packs market is projected to record the highest CAGR during the forecast period. This will be due to the growing geriatric population, increasing prevalence of orthopedic diseases, rising healthcare expenditure, and surging casing of sports injuries and road accidents in APAC. Whereas, North America held the largest market share in 2020 owing to the presence of major market players, high disposable income, surging incidence of orthopedic diseases, such as arthritis and osteoporosis, growing aging population, and increasing cases of injuries in the region.

Thus, the rising incidence of sports injuries and road accidents and surging aging population are expected to propel the market growth during the forecast period.

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Increasing E-Commerce Sales Driving Demand for Retail Logistics

The expansion of the e-commerce industry, especially in the developing countries, on account of the increasing internet and smartphone penetration, and the changing styles of logistics models are driving the demand for retail logistics across the world. As per the findings of the United Nations Conference on Trade and Development (UNCTAD), the share of online retail sales in the worldwide retail sales grew from 16% to 19% in 2020. Additionally, the organization also observed that e-commerce sales all over the world increased to $26.7 trillion in 2019, recording a rise of 4% from 2018.

 Retail Logistics Market Outlook

Furthermore, according to the India Brand Equity Foundation (IBEF), in India, the e-commerce order volume surged by 36% in the last quarter of 2020. Retail logistics is basically a sub-arm of logistics. In simple terms, it can be defined as an instrumental process of managing the merchandise flow from the supply source to customers. The retail logistics system ensures smooth flow of products to customers via efficient logistics movement. Basically, this system ensures the delivery of the right product to the right customer at the right time and at the right place. 

Thus, the growing popularity of online shopping is positively impacting the progress of the global retail logistics market. There are mainly two types of retail logistics solutions— e-commerce and conventional. Between these, the demand for conventional retail logistics solutions was found to be higher between 2014 and 2019, on account of the inventory and retailer model of fast moving consumer goods (FMCG), under which, the retailer would manage the first mile delivery of the product, while the last mile delivery would be managed by customers, who will travel to the store and bring the product to his/her home. 

Therefore, it is quite clear that the demand for retail logistics solutions will shoot up in the coming years, primarily because of the expansion of the e-commerce industry, on account of the growing internet and smartphone penetration all over the world. 

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How Is Contract Farming Driving Agricultural Micronutrient Demand?

The United Nations Department of Economic and Social Affairs (UNDESA) forecasts that the global population will reach around 9.7 billion by 2050, and it could further surge to approximately 11 billion by 2100. The population boom will create an excessive demand for food crops in the forthcoming years. The population explosion would, therefore, put immense pressure on the agriculture community to augment the volume of the crops produced. To keep up with the mounting pressure, farmers are already using agriculture micronutrients in abundance.

Additionally, the burgeoning demand for horticulture and high-value crops, such as fruits, vegetables, nuts, and ornamental crops, will aid the agricultural micronutrients market in advancing at a CAGR of 7.5% during forecast period. According to P&S Intelligence, the market was valued at $5,848.0 million in 2017, and it is expected to generate $9,009.2 million revenue by 2023. Horticulture crops require a larger volume of micronutrients, on a per hectare basis, as compared to other agronomic crops.

The micronutrients offered by FMC Corporation, Haifa Group, Akzo Nobel N.V., Chambal Fertilisers and Chemicals Limited, BASF SE, Coromandel International Limited, Sinochem Group, The Mosaic Company, and SAPEC SA are based on diethylenetriaminepentaacetic acid (DTPA), ethylenediaminetetraacetic acid (EDTA), ethylenediamine- N,N'-bis (2-hydroxyphenylacetic acid) (EDDHA), and N,N′-bis(2-hydroxyphenyl)ethylendiamine-N,N′-diacetic acid (HBED). Additionally, these companies are also involved in the production of non-chelated agricultural micronutrients, which are more economical than other variants, therefore widely used in Indonesia, China, and India.

Geographically, Asia-Pacific (APAC) dominated the agricultural micronutrients market in the preceding years, and it is expected to retain its dominance in the upcoming years. This can be ascribed to the low biofortification of crops and high deficiency of micronutrients in the soil due to continuous sowing and reaping cycles in the region. Moreover, the rising number of government initiatives for educating farmers about the benefit of adding micronutrients to the soil and mounting income level of the people of India, Indonesia, and China will boost the consumption of such agents in the forthcoming years.

Thus, the booming global population and increasing practice of contract farming will create a huge requirement for agricultural micronutrients.

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Why will Popularity of Electric Vehicle Battery Swapping Technology Boom in APAC in Future?

A number of factors, such as the slow charging process at charging stations, need for less time consumption in charging and lower upfront cost of electric vehicles (EVs), less availability of proper charging infrastructure, and rise in investments in the manufacturing of lithium-ion batteries, are driving the electric vehicle battery swapping market. The battery swapping technology acts a suitable substitute for supplying power to EVs as it eradicates the requirement of slow-charging stations. 

The market is currently witnessing a trend of technological advancements. The advancements in battery swapping technologies are allowing drivers to swap the discharged batteries at a dedicated swapping center with charged ones. This enhances the EV’s uptime, while reducing its operational costs. Additionally, the increasing sales of EVs, falling prices of batteries, and improving technologies are projected to drive the need for battery swapping technologies across the world.

According to P&S Intelligence, Asia-Pacific (APAC) is projected to hold the largest share in the electric vehicle battery swapping market in 2030, and the regional market is also projected to observe the fastest growth in the coming years. This can be ascribed to the rising number of research and development (R&D) activities to make advancements in battery swapping technologies, government strategies to facilitate the deployment of EVs, lack of adequate charging infrastructure, rising demand for electric mobility, and surge in investments in this domain in the region.

Thus, the increasing need for zero-waiting time for EV charging and improved run time of vehicles will accelerate the adoption of the battery swapping technology across the globe in the foreseeable future.

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How Are Technological Advancements Strengthening Automotive Data Logger Market?

Factors such as the rising integration of intelligent, compact, lightweight electrical and electronic systems in passenger vehicles and the surging need to monitor and analyze real-time automobile data to optimize passenger and vehicle safety will boost the automotive data logger market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached ~$3 billion in 2020. Nowadays, the mounting investments being made by market players in the advancement of automotive data logger systems have become a prominent market trend.

Automotive Data Logger Market Outlook

One of the key growth drivers for the market is the booming demand for in-vehicle connectivity features worldwide. To meet this demand, automakers are increasingly integrating in-vehicle connectivity solutions in their offerings, through partnerships with consumer electronics and software vendors. The installation of advanced features such as automotive data logger solutions enables automobile manufacturers to collect data and then provide information about the functions of systems such as lane assist and automatic brake. 

Whereas, Asia-Pacific (APAC) is expected to exhibit the fastest growth in the automotive data logger market throughout the forecast years, due to the existence of a vast automobile manufacturing base in the region. Moreover, the accelerating industrialization rate and flourishing infrastructure sector in APAC nations will also propel the market growth in the region in the upcoming years. Besides, the surging adoption of advanced electronic components in automobile architecture will also augment the market growth in the immediate future.

Therefore, the rising demand for in-vehicle connectivity features and accelerating technological advancements in the automotive sector will drive the market growth in the forecast years.

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