Tokenization Market To Propel at a Mammoth Growth rate of Above 19% by 2030

 The tokenization market had a value of about $2,591 million in 2021, and it will propel at a massive CAGR of above 19% in the years to come to reach over $12,684 million by 2030. The growth of the industry is chiefly credited to the increasing financial frauds and the growing requirement to protect payment gateways. Meeting safety standards to avert a data breach, although safeguarding the customer experience will also drive market growth in the future.

The BFSI industry is the leader in the tokenization market.  It will generate around $5 billion in 2030, because of the rise in seamless digital payments, while guaranteeing safe transactions. The banks are rushed to address the challenge of monetary fraud while confirming customer satisfaction. Tokenization reports this challenge and its executions help banks propose varied payment offerings and allow their clienteles to make protected transactions, therefore opening value for the banks.

Tokenization Industry Growth Forecast to 2030

The cloud will record faster progress in the tokenization market, advancing at a growth rate of about 20%, by the end of this decade. This mode of deployment is extremely helpful, as merchants are not required to build safe payment infra with privileged info like passwords, credit card detail, usernames, and others. 

Cloud-based tokenization lets the exchange of sensitive info with UID symbols, which are permanent placeholders called tokens while safeguarding sensitive info outside the internal system. This decreases the difficulty of compliance and reduces merchants’ risk to update and guard the customers’ sensitive info.

The PCI DDS requires administrations, which accept, transfer, and stock the data of any cardholder, to confirm that data is suitably protected. This requires vendors to receive payment through credit cards and to follow the regulations.

Furthermore, protected networks must be preserved and frequently updated on the database of the sellers. Also, merchants are mandated to report separate systems that stock and process credit card info to ensure they are ensuing PCI DSS necessities.

North America is the leader in the tokenization market. The regional market will generate a revenue of more than $6 billion in 2030, registering a growth rate of approximately 20% by the end of this decade. Some key factors fueling the growth of the market are increasing cases of data breaches, payment security apprehensions, and growing payment regulatory agreements in the region. According to a report, around 850,000 cybercrime cases were informed in 2021, with a growth of 7% from 2020 and a possible loss of around $7 billion. The increasing number of cyber fraud and data theft cases has led to the augmented acceptance of tokenization by large companies and also SMEs to augment security and fight against future attacks.

The tokenization market is consolidated, with few players controlling the major share. Recently, they are involved in collaborations and partnerships, to beat all the competition. For example, American Express joined hands with Goldman Sachs in October 2021, to offer a cohesive cloud-based digital payment system for business clients. It bids support for manifold payment options, data, and analytics, in a single unified platform.

The increasing demand for tokenization solutions is because of 5he rising cases of financial fraud, and an increasing requirement to find a secure payment gateway.

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Miniaturization of Electronic Devices Drives Photonic Integrated Circuit Market

 The market is being driven by the significant demand for such components from the telecommunications, medicinal, and data center facilities, as well as the growing popularity of autonomous cars, rapid automation in a variety of industries, and downsizing of electronic equipment. The photonic integrated circuit market is set to hit $41,037.7 million value by 2030.

Moreover, silica-on-silicon has second-largest share in the market. This is because photonic integrated circuits built of this material are inexpensive to install and run. Additionally, because such components are so simple to incorporate into electrical devices, there is a huge market opportunity for companies that provide the silica-on-silicon platform.

Photonic Integrated Circuit Market Size and Share Analysis Growth Forecast to 2030

Additionally, the need for high speed, low cost, broad bandwidth, and high energy efficiency data flow is driven by the fast-growing traffic on telecommunications networks, growing need for data centers, and expanding usage of high-performance computers. As a result, the photonic integrated circuit market demand for this raw material is increased by the incorporation of photonics for ultra-fast data transmission into electronics.  

With a CAGR of 20.9% in the upcoming years, the application segment's data centers category is anticipated to increase at the fastest rate. This is because of the introduction of 5G mobile networks, video streaming, and cloud connectivity services, which have been propelling the vast global construction of data centers.

Monolithic has a bigger share in the photonic integrated circuit market, based on the integration method. This is because photonic ICs are integrated using a single material in a range of both passive and active optical devices, eliminating the problems associated with adapting between different materials.

Furthermore, the commercialization of this method and the implementation of several monolithic photonics platforms in improved CMOS technologies for next-generation integrated systems are predicted to grow the potential for monolithic integration.

One of the main photonic integrated circuit market drivers is the rapid improvements in photonics IC technology as well as the numerous integration techniques. For example, in October 2021, scientists at the Hong Kong University of Science and Technology developed a monolithic InP on a silicon-on-insulator (SOI) substrate that would pave the way for completely integrated Si-based photonic integrated circuits.

Due to the widespread use of WAN solutions for fiber-optic communications and data centers, North America holds the biggest share in the photonic integrated circuit market. Additionally, the increased adoption of IoT and the growing need for high-speed data transfer add to the strain on cloud computing networks, which has led to the possible development of a burgeoning photonic integrated circuit industry.

Moreover, companies have begun to turn toward integrated circuits as a result of the rise in data creation, consumption, and bandwidth needs. These components offer increased bandwidth and efficiency by using light and photons rather than electricity and electrons; as a result, they may be a crucial component of many upcoming applications. Numerous cutting-edge technologies, including quantum computing, are supported by PICs.

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What Role Does IT Play in Micromobility Industry?

 The entire concept of micromobility is enabled by IT technologies, including mobile phones, mobile and desktop apps, digital payment platforms and telematics solutions. Micromobility involves sharing two-wheelers (gasoline/petrol and electric) for short-distance transportation, with the bookings and payments being almost exclusively facilitated by mobile apps and websites of the service provider.

How IT Facilitates Micromobility Ride Booking?

To book a ride, the user needs to either download the service provider’s mobile app or visit its website. There, you enter all the trip details, including the destination and origin, the vehicle type (bicycles, kick scooters, and scooters) and preferred journey time and then, make the payment. Following this, you get the pickup spot on the mobile app or your account on the service provider’s website for both station-based and dockless micromobility systems and a code to unlock the vehicle. Then, you reach the spot, put in the code into the vehicle’s dial pad, and you are ready to ride!

What Benefits IT Provides to Micromobility Service Providers?

While IT technologies allow people to book and pay for the rides, they enable a whole lot more for the service providers. When it comes to micromobility companies, the digital technologies available to them are grouped under ‘telematics’. By studying the data fed to the central company system from the small computer onboard the vehicle, service providers can take a stock of their fleet utilization, including the number of vehicles in use at a time, the most-popular routes and journey times, and average kilometers/miles ridden per day, week, or month.

Such a usage analysis further allows companies to know the best times for the utilization of their services, so that trip fares can be elevated or reduced accordingly. During periods of low utilization, companies may want to substantially reduce the fares or provide an offer to lure customers. Similarly, during times when the demand for the services is high, companies could employ dynamic pricing (the higher the demand, the higher the rates).

The telematics solutions also pair users’ smartphone app with the onboard computer, ensuring that only the particular vehicle the user has received the unlock code for can be unlocked using it. Moreover, companies can see the charge remaining in the battery or fuel in the tank, to know when it is time to recharge or take the vehicle to a petrol pump (gas station). Similarly, the health of onboard systems, such as the motor or engine, tire pressure, the computer, GPS/telecommunications module, ADAS, headlights and taillights, battery management system, and AC–DC/DC–DC converter can be monitored, thus allowing for predictive maintenance.

Moreover, the GPS allows companies to track the location of the two-wheeler in case it goes missing or breaks down or if the user presses the panic button, thus prompting a search & rescue operation by the service provider or the authorities. Advanced telematics systems might also offer vehicle-to-pedestrian, vehicle-to-vehicle and vehicle-to-infrastructure connectivity, thus making the journey more enjoyable for the rider and fleet management easier for the service provider.

Get More details Micromobility Market Business Opportunities 

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How Does Rise in Geriatric Population Impacts Medical Device Coating Sales?

In 2021, the medical device coating market companies made $7,861.4 million, and it is expected to rise to $15,165.9 million in 2030, advancing at a rate of 7.6% from 2021 to 2030, attributed to the growing awareness of minimally invasive devices. In addition, the increase in the incidences of healthcare-associated infections, including ventilator-associated pneumonia, and catheter-associated urinary tract infections propel the demand for medical device manufacturers to coat anti-microbial agents on their products.

In addition, the rise in the geriatric population, coupled with the surge in healthcare-related challenges has boosted the medical device coating industry with the rise in the implants’ demand. Furthermore, the increase in the requirement for early detection of diseases is projected to expand the demand for medical devices, which, in turn, will drive the growth of the industry in the near future.

The primary medical device coating market trends are urology, cardiovascular catheters, and hydrophilic lubricious coatings. In addition, the rise in awareness of novel surgeries and the increasing requirement for improved healthcare facilities are projected to create opportunities for market players in the coming future.

North America is the largest contributor to the sales of medical device coatings, and it is projected to capture sales worth $5,408.5 million in 2030, ascribed to the increased improvements in the technologies of medical devices, coupled with their ease of access booms the demand. In addition, the presence of healthcare facilities in large numbers and the surge in the R&D investments in healthcare propel the industry in the industry.

Therefore, the rise in the elderly population with increased demand for implants proliferates the medical device coating industry.

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How Does Increase in Demand for Consumer Home Appliances Contribute to a High Rise in Stabilizers Sales in India?

In 2021, the Indian stabilizers market generated $676.2 million, and it is projected to contribute $1,359.8 million in 2030, progressing at an 8.1% rate from 2021 to 2030, ascribed to rising government focus on smart city development projects and major investments under Invest India initiatives and make in India. Moreover, the increase in the electrical appliances sales such as refrigerators, televisions, and ACs boost the stabilizers industry. 

Servo-controlled stabilizers are projected to experience the highest sales in the coming years, accounting for 8%, ascribed to the increasing consumer awareness of appliance rating structures, and the benefits of products with a higher rating. Along with this, the higher reliability, improved correction speed, and durability boost the demand od servo-controlled stabilizer in the industry. 

The rise in the demand for consumer home appliances such as refrigerators, ACs, and TVs has been witnessed after the 2020 pandemic, as a large number of people kept working from their homes, resulting in a massive rise in average ticket sales of comfort home products. For example, the demand for split ACs in towns and tier-II cities is 12% higher compared to tier-I cities. Moreover, the premium products such as high-capacity refrigerators, large-sized smart televisions, smart washing machines, and other IoT and AI-enabled products are penetrating the smaller tier-II cities.

Uttar Pradesh is projected to showcase the fastest growth in the stabilizer industry of the country, progressing at a rate of 9% in the coming years, ascribed to a rise in the state’s electricity connections, specifically in rural areas where power supply keeps fluctuating.

In addition, Tamil Nadu captures the extensive revenue share generated by the sales of stabilizers in the country, ascribed to increased penetration of local manufacturers, rising incidence of electricity fluctuations, wide population, and large numbers of residential and commercial spaces.

Therefore, the rise in the sales of the mainline stabilizers and increased demand for electric appliances for home comfort in tier-II cities caused by mass adoption or remote work post-COVID-19 boost the industry.

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Increasing Geriatric Population Needing More and More Orthopedic Biomaterials

The orthopedic biomaterials market had a value of above $14 billion in 2021, and it will advance at a growth rate of about 10% in the coming years, to reach above $32 billion by 2030. The reconstructive joint replacements had the largest demand in 2021, with revenue of above $4 billion, and it would grow at a significant growth rate of above 9%, in the future. This is for the reason that the occurrence of severe damage and late-stage osteoarthritis is quickly increasing.

The hospitals had the largest demand of approximately, 42%. In many nations, hospital admissions and patients visiting for orthopedic procedures have significantly increased over the past twenty-thirty years. Patients generally like to be treated at hospitals since contemporary therapeutic approaches are available here.

The rise in musculoskeletal problems will boost the growth of the orthopedic biomaterials market. Musculoskeletal ailments are the main causes of disability worldwide, according to research, with these disabilities upsetting 20-30% of people. Fractures, inflammation, and pain in the joints, ligaments, and tendons are the prevalent musculoskeletal issues resulting in constrained mobility.

North America has the highest demand for orthopedics biomaterials and will grow at a significant rate in the coming years. This is due to the increase in the volume of patients experiencing knee reconstruction and replacement and other treatments.

APAC will grow at the fastest rate of 10%, in the near future. The growing number of cases of musculoskeletal ailments, like bone degenerative illnesses, in evolving nations is one of the important reasons helping the regional industry to grow. Furthermore, the surging healthcare spending, along with the developments in the healthcare infra will have a positive impact on the demand for orthopedic biomaterials in this region.

The increasing geriatric population and the increasing cases of people having musculoskeletal conditions have a positive impact on the demand for orthopedic biomaterials.

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Why Does Flexible Foam Category Hold Largest Share in Bio-Based Polyurethane Market

Since they have a smaller negative impact on the environment, are less expensive, are readily accessible, and degrade over time, bio-based polyurethane coatings have begun replacing petrochemical-based coatings in large quantities. The global bio-based polyurethane market accounted for $34.8 million in 2021, which is predicted to hit a $63.3 million value by 2030. This is owing to the various applications of this polymer, including footwear, biomedical, packaging, and transportation.

Furthermore, synthetic polyurethane compounds are toxic and non-biodegradable. They also use petrochemical-based raw resources, which are already running out, driving up the price of polyurethane manufacture. The bio-based version's excellent compressive strength, bending strength, tensile strength, and water absorption makes it superior to polyurethanes made from petroleum.

The flexible foam category maintained the biggest share in the bio-based polyurethane market, followed by rigid foam and coatings, sealants, and adhesives. Bio-based polyurethane foam that is flexible is strong, supporting, lightweight, and comfortable. A wide range of consumer and business products, including carpet underlay, mattresses, vehicle interiors, chairs, furniture, packaging, and specialty items, employ the material as cushioning. The fact that this material can be extremely stiff, soft, or even viscoelastic accounts for its popularity.

The packaging is expected to grow at a 9% CAGR in the bio-based polyurethane market. One-component polyurethane adhesives are widely used in printed films, snack food bags, and shopping bags. In addition, polyvinyl chloride is attached to aluminum sheets for medical applications using a customized two-component polyurethane adhesive. Furthermore, due to its low viscosity and low application temperature, hot-melt polyurethane is ideally suited for wrapping applications.

Buildings that are environmentally friendly and cost-effective to operate are gaining popularity. The World Green Building Council, central organizations like the Ministry of Skill Development & Entrepreneurship, the SIDBI, and the GSA in the U.S., as well as state governments and municipal bodies internationally, have all recognized and rewarded green buildings.

Due to their high strength, bio-based polyurethanes are utilized in a variety of applications, including roofing, window and door profiles, pipes and gutters, glazing, cement, insulation, hardwood flooring, sealants & adhesives, heavy-duty rubber flooring, and parquet gluing. Due to their capacity to have high green strength, bond wet/frozen timber, and shear strength, they are also commonly used for ceramic tiles, bathtub surrounds, concrete, and mirrors.

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High Consumption of Brain Health Supplements Due to Growing Prevalence of Stress & Anxiety

 The brain health supplements market contributed $7,910.1 million in 2021, and it is projected to advance at a rate of 7.8% and capture $15,525 million in 2030. The rising demand for health supplements is projected to enhance attention, memory, and the ability for stress management, more specifically among the elderly population boosts the industry.

The worldwide rising trend of veganism massively impacts the landscape of food and vitamin supplement. Consumers turning vegan are opting for plant-based omega-3 supplements to maintain a healthy lifestyle. In the past few years, veganism has fetched people’s interest tremendously. The fish oil is highly being replaced by omega-3 sourced from algae for its nutritional value and taste.

Brain Health Supplements Market Size and Share Analysis Growth Forecast to 2030

The memory enhancement category holds the largest share of the brain health supplements industry, accounting for 30%. It is ascribed to the growing awareness of mental health. According to Alzheimer’s Disease International report, around 55 million people were suffering from dementia in 2020. In addition, it is predicted that 78 million people would be living with dementia in 2030, and 139 million are predicted to experience dementia conditions in 2050.

According to WHO, Alzheimer's disease would result in 70% of cases of dementia globally. The growing
awareness of such diseases is projected to boost the demand for supplements for maintaining a strong memory.

The depression & mood category is projected to experience the fastest growth. Depression can happen to anyone, irrespective of age. The elderly population is more likely to suffer from depression. The rising prevalence of depression and growing understanding of measures for its prevention and alleviation drives the industry.

Moreover, stress & anxiety is the next-fastest growing category in the industry. Around one in every three persons aging from 13 to 18 experience anxiety at some point in time, according to a government agency. According to WHO, COVID-19 has caused an increase of the 25% in anxiety and depression prevalence globally. The rising levels of stress and anxiety are projected to result in its growth in the near future.

The busy and hectic schedule of people has made them switch from physical purchasing to online shopping. The product reviews and information relevant to products available on online platforms help in making purchase decisions. Moreover, during a pandemic, the supplement companies opened new sales channels to expand their consumer base, when people remained at home due to lockdown.

The herbal brain supplements utilize plant-based and natural ingredients such as curcumin, ginkgo Biloba, and green tea extracts to sharpen memory and increase the blood flow to the brain, thus improving cognitive functioning and reducing mental tiredness.

The growing requirement for brain supplements with herbal extracts will increase the preference for herbal products in emerging economies, such as India and China. In the U.S. and Europe, herbal medicines utilized in traditional Chinese medicine are often marketed as supplements. Therefore, the herbal extract category is projected to witness the highest growth in the coming future.

Therefore, the vitamins and minerals category are projected to experience the highest growth in the coming future, as they are necessary for the proper functioning of the brain. For instance, B1 facilitates brain nerve communication, and B2 causes relief from headaches and increases energy production, while B9 enhances brain health and mood.

Thus, the rising elderly population more prone to memory disorders and depression boosts the demand for brain health supplements.

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Bubble Food and Beverages Market Is Set To Hit $8,096.2 Million by 2030

 In Taiwan, bubble meals and beverages, including tapioca balls for added nutrition, were first developed. They are now trendy, especially among young people. The youth's preference for foods and beverages made with boba is what fuels the demand for such items.

Bubble Food and Beverages Market Size and Share Analysis Growth Forecast to 2030

For instance, Traditional tea is said to be less caloric and less tasty than bubble tea. Additionally, because bubble food and beverages are considered new-age products, they are promoted in creative, odd, colorful, and enjoyable ways, which aids businesses in attracting college students and young adults.

Read More: Bubble Food and Beverages Market Analysis and Demand Forecast Report

People are being compelled to increase their diet of pure carbs, proteins, and fibers due to an increased focus on health and fitness, and food products, including tapioca, may supply all of these nutrients (cassava).

The global bubble food and beverages market is expected to touch $8,096.2 million by 2030. The benefits of items created with organic, natural, and vegan tapioca pearls are becoming more widely known, which is to blame for this. Manufacturers have been encouraged to make significant R&D investments to provide innovative bubble meals and beverages.

The bubble food and beverage industry will develop quickly in North America with a 10.8% CAGR. Numerous restaurants are sprouting to meet the growing demand for such foods, especially for bubble tea fans. In essence, bubble tea is a milk-based beverage with fruit jellies and chewy tapioca balls as components.

Because of their fast-paced lifestyles, young people like drinks that are easy to carry and superior to carbonated beverages. For instance, the famous New York City restaurant MBambu offers a wide selection of fruit juices, Vietnamese coffees, boba milk teas, and fresh, healthy, and genuine Chè dessert beverages.

Furthermore, producers have been motivated to introduce new products and establish more stores as a result of increased expenditures in R&D and growing customer knowledge of the advantages of goods made with natural, organic, and vegan tapioca pearls.

The region where these items were developed, APAC, generates the second-highest demand for them. This is partly due to the fact that several businesses sell these goods in India, New Zealand, Japan, Thailand, China, and Australia.

Young people enjoy eating wholesome snacks with flavorful foods. There are several cafes providing bubble pudding and bubble tea in India, a market expanding for bubble-related goods and drinks. The bubble tea flavour may be readily altered to suit various palates, making it a delightful beverage.

Additionally, café proprietors continually experiment with tastes and low-calorie menu items. These items also provide sweet potato brownies and vegan chickpea brownies, both delectable and nutritious options.

For a while, bubble tea dominated the bubble food and beverages market, and this trend is expected to continue throughout this decade. This is attributable to the introduction of bubble tea in various flavors in important countries, including Australia, China, and Thailand.

Next on the list, as millennials experiment with their diets, are desserts. They are choosing treats made with tapioca that have tastes like green tea, strawberries, mangoes, oranges, honey melons, and pomegranates added.

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How Does High-Range Voltage Contribute to Multi-Layer Ceramic Capacitor (MLCC) Market?

 In 2021, the multi-layer ceramic capacitor market contributes $12.2 billion in revenue, and it is projected to rise to $34.6 billion in 2030, progressing at 12.3% from 2021 to 2030. Moreover, the automotive category holds the significant multi-layer ceramic capacitor market share, accounting for revenue worth $4.8 billion, and it is expected to rise at a rate of 12.4% in the coming years. The rising adoption of EVs and self-driving vehicles in the automotive industry, with increasing government support for mandatory ADAS systems, and smart technologies for automotive manufacturing implementation drives the market. 

Multi-Layer Ceramic Capacitor Market Outlook Growth Forecast to 2030

Moreover, MEMS introduction linked with ADAS, technical improvements in infotainment, connected cars developments, and integration of IoT devices in automobiles, results in the surging requirement of the electronic control units, which results in the growing demand for the high-capacitance MLCCs, that bolsters the expansion of the multi-layer ceramic capacitor market. The continuous technological advancements in the automotive sector require improvements in the safety feature, component downsizing, and high capacitance. In addition, the surge in the usage of electronic components in vehicles such as engines, infotainment devices, engines, and powertrains require MLCCs and thus drive the market. 

The general capacitors hold a significant share of the multi-layer ceramic capacitor market, ascribed to the wide application of the general capacitors in the market, along with the availability of a wide range of capacitances and sizes. It is projected to experience the fastest growth at a rate of 12.3% in the coming years. In addition, the growing requirement for general capacitors in various applications such as cellular cellphones, DC-DC converters, memory modules, gaming machines, televisions, and LCDs drive the market. Moreover, the universal capacitors help in reducing the noise from electronic circuits, and their small size facilitates the easy installation of electronic equipment. 

In addition, the high-range voltage category captures the extensive multi-layer ceramic capacitor market share, accounting for 48.2%, attributed to advanced ceramic dielectric multi-layering and thin-layer methods widely utilized in the high-range MLCC capacitors to facilitate electronic systems with high capacitance. They are also utilized in various applications, such as coupling capacitors, lighting ballasts, high-voltage coupling capacitors, and inverter circuits. 

Furthermore, the numerous advantages of the mid-range voltage MLCCs, such as no polarity, low leakage, low cost, and high capacitance-to-volume ratio allow application in various electronic systems. Moreover, electrolytic capacitors have lower ESL/ESR and stronger mechanical strength compares to electrolytic capacitors.

APAC is projected to experience massive sales in the multi-layer ceramic capacitor market, amounting to $5.1 billion, and the regional market is projected to retain its dominance in the near future, progressing at 13.0%, owing to a surge in the application of renewable energy products and MLCC-based electronic components in the automobile sector in the region, resulting in the increased demand for MLCCs from end-use sectors. 

Additionally, China has retained its place in the list of top manufacturers of MLCCs, with a massive local presence. The MLCC producers in the country are focusing on expanding themselves with the increased supply of consumer electronics. Moreover, the surge in the requirement for consumer electronics in developing countries such as China and India, bolsters the MLCCs consumption, resulting in market proliferation. 

Therefore, the massive application of general capacitors such as televisions, LCDs, DC-DC converters, memory modules, and gaming machines results in market proliferation

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How Does Face Recognition Technology Offer High-Level Security?

 The contactless biometrics market contributes $17,389.2 million revenue in 2021, and it is projected to rise at a rate of 14.6% from 2021 to 2030, and generate $59,501.4 million revenue by 2030. It is ascribed to the rising preference for contactless biometric technologies, increasing security concerns, and government initiatives that encourage contactless biometric systems. For example, there is an ongoing progression in the implementation of Aadhar for contactless and facial authentication for various services. Thus, it will boost the banking and financial services sector. 

Contactless Biometrics Market Outlook Forecast to 2030

The contactless biometric systems are utilized for forensics & criminal identification, access control, onboarding, and KYC. The rising identity theft & fraudulent activities, along with increased usage of the digital identity for various use cases across verticals result in the growing demand for the systems for forensic and criminal identification purposes. 

The software category holds a significant share of the contactless biometric industry, accounting for 40%, and it is projected to retain its position in the coming years, due to the growing demand for software to enhance device compatibility for various applications. In addition, the rise in the queue-less passenger checks demand, fast and secure access controls, seamless border crossing, and quick identification to facilitate ease of convenience and security boost the industry growth. 

The services category captures the third position, regarding market share, and it is projected to witness higher growth in the near future. It is ascribed to the training & consulting services, feasibility assessment services, analysis, and advisory services, and managed services, as they hold prominence for end users for efficiently operating the biometric systems. 

Face recognition technology captures a significant share of the contactless biometric industry, ascribed to wide usage by end users, as it is reliable, economic, and facilitates high-level security. The iris recognition technology is projected to reflect the fastest growth in the coming future, ascribed to the technology that keeps away facial recognition drawbacks. This technology functions by exposing the iris to infrared light that discloses internal complex patterns. 

Furthermore, the contactless biometric card technology demand is projected to register the highest growth in the coming years, led by an extensive rise in contactless payments. Therefore, companies are focusing on advanced facial recognition software and solutions development, which in turn proliferates the contactless payments industry. 

Under the end-user segment, the government sector generates the largest revenue share in the contactless biometrics industry, accounting for 30%. It is led by the massive adoption of contactless biometric systems by numerous national governments. For example, contactless e-channels are installed at Hong Kong International Airport with QR code scanning and facial recognition technology for immigration. 

North America holds the extensive share of the contactless biometrics industry, accounting for 30%, ascribed to the demand for seamless border crossing, speedy identification of individuals, rapid and secure access controls, and queue-less passenger checks. In addition, the illegal immigrants inflowing, unexpected terrorist operations results in growing security concerns, which in turn boost the demand for contactless biometric solutions in the region. 

The next-largest contributor to the industry is Europe for the contactless biometrics industry. It is projected to witness the fastest growth in the near future, ascribed to the rising adoption of touchless biometric systems in government and military applications in the nation. 

Therefore, the surging demand for contactless biometric solutions led by the rising security concerns, and the efficiency of these systems boost the industry.

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Telecom Power System Market To hit a Value of Above $7,360 Million in 2030

The total size of the telecom power system market was above $3,974 million in the year 2021, and it will reach a value of above $7,360 million in 2030, advancing at a CAGR of over 7% by the end of this decade. The growth is helped by the increasing penetration of telecom towers in diverse regions, like APAC and Africa, and the booming acceptance of telecom services.

The largest share in the telecom power system market, of about 30%, was with generators, as they are considerably utilized as a standby source of power to offer safe operations against power cuts and insufficient power supply. Furthermore, diesel is less inflammable as compared to natural gas, thus it is a safer fuel for generators for backups of telecom towers. Further, diesel generators last longer than others, since they operate at lower temperatures.

North America will be the fastest-growing market in the near future, because of the solid network connectivity, 4G-LTE networks, and mobile usage. The growing ICT industry, comprising telecommunications along with high-tech sectors, is probably at the center of the market growth of the region. Additionally, the U.S. will register a more distinct 5G cycle with peak smartphone growth in the future, which will further tempt service providers to create better telecom infra. 

DC power systems had over 60% demand in 2021 and will lead the telecom power system market in the years to come too, because of the wide uses of DC power systems in the telecom industry. This power is not restricted to frequency disparity or leading power factor. Moreover, it can be stowed, and hence, backup for telecom buses can be provided by batteries without a power conversion loss. 

With the increasing use of smartphones and a developing telecom infra, there is a surge in the demand for telecom power systems around the globe.

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How Does Inexpensive Raw Materials in Agrarian Economies Boost the Ammonium Sulfate Market?

The ammonium sulfate market contributed $2,775.7 million in revenue in 2021, and it is predicted to capture $4,847.9 million revenue in 2030, advancing at a rate of 6.4% in the near future. The dynamic nature of the industry with constant evolvement leads to market proliferation with numerous entities functioning in the global ecosystem that causes tremendous improvement.

Under the end-use sectors, technological advances such as a rise in the manufacturing capacity of companies, geographical expansions, and process innovations are projected to drive the ammonium sulfate market in the coming years in order to cater to the larger consumer base. The increasing dependence of the global farming community on various agricultural inputs such as pesticides and fertilizers is expected to surge the usage of advanced ammonium sulfate as a substitute of nitrogenous fertilizer.

There is no substitute available in the market to replace the ammonium sulfate among agricultural fertilizers. Moreover, the usage of ammonium sulfate is limited to several crops only such as maize, and soybean, resulting in a minor threat of being replaced with a substitute. Moreover, the supplier bargaining strength for the compound is moderate, considering the integrated operations of the feedstock, sulfuric acid, and ammonia suppliers, and their rising penetration in the global agriculture sector.

North America captures the largest ammonium sulfate market share, due to the region being among the significant agricultural hubs and homogenous to the farmer role. It has sufficient water, fertile land, and infrastructure with entrepreneurial farmers that provide a competitive advantage to the region. In addition, the U.S. is the significant fertilizer producer in the region, owing to the massive production of ammonium sulfate and urea.

Therefore, the agricultural application of ammonium sulfate propels the market, due to the increased requirement to high yield crop production.

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Why did APAC Held Highest Revenue Share in Basalt Fiber Market?

In 2021, the basalt fiber market generated $283.8 million worth, which is expected to touch $798.6 million by 2030, progressing at a 12.2% CAGR from 2021 to 2030. This is owing to basalt fiber can take the place of glass fiber as a possible polymer reinforcing component in polymer matrix composites. Thus, it has a wide range of uses in hot gas filtration processes, civil construction, engineering, concrete reinforcement, composite tissues, laminates, and prepregs, as well as electro-technical applications.

The category of fabrics, which accounted for the biggest revenue share of the basalt fiber market in past, is predicted to advance at a CAGR of more than 12% in this decade. Basalt textiles are compatible with polyester, and vinyl ester and are utilized with resin for molding and selective reinforcing of laminates.

In the coming years, it will grow requirement for composites constructed from basalt fibers would grow at a higher CAGR of over 12%. This is so that they can have mechanical properties that are better than those of glass-fiber-reinforced composites, such as epoxy-bonded pultrusion basalt-fiber composite materials with 80% fibers. In addition, basalt-plastic composite bars outperform their metallic counterparts in terms of workability, specific gravity, water absorption, and corrosion resistance.

The APAC basalt fiber market earn the most revenue in 2021, around $150 million in past. The primary cause of this is the rapid industrialization and urbanization that is occurring in growing economies throughout the APAC region. Additionally, Chinese businesses are investing in the development of a specific kind of high-tech fiber with competitive pricing and superior performance to stay up with the nation's shifting industrial trends.

The basalt fiber market is predicted to grow in the next years as residential facility development will continue to be brisk as a result of the low rates on house loans and government incentives. Plastic reinforced with basalt fibers has a density that is 4.2–5.0 times lower and a tensile strength that is 2.0–2.5 times higher than steel. By substituting one kilogram of basalt-plastic reinforcement for nine kilograms of steel, structural structures may be made lighter.

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How Does the 4th Industrial Revolution Proliferate Call Center AI Market?

 In 2021, the call center AI market generated sales worth $1,982.9 million, and it is expected to contribute $12,910.6 million in 2030, progressing at a rate of 23.1% from 2021 to 2030, ascribed to the growing up requirements for improved data analytics to manage customer inquiries with the real-time response to improve customer engagement through social media.

In order to pace up the 4th industrial revolution, businesses across various industries are adopting advanced technologies such as artificial intelligence, machine learning, and mobile supercomputing that in turn, will fuel the demand for call center AI software in the near future. More than 7500 businesses worldwide use AI, which signifies a 35% adoption rate in 2022, showing a 4% increase from the previous year, according to a survey. In addition, 66% of companies are planning or have already begun the execution of AI applications to stay in the market competition in the near future.

Call Center AI Market Analysis Demand Forecast Through 2030

Moreover, the cloud category is projected to generate the highest sales in the call center AI market, progressing at a 24.3% rate from 2021 to 2030, attributed to the public, private, and hybrid cloud technologies which offer remote access and flexibility. Organizations opt for this deployment mode, due to hosting on software on the server of the vendor that can be accessed through a web browser. It mitigates the requirement of regular updates and allows remote access of data to users with hassles.

Furthermore, traditional cloud-based call centers are inexpensive compared to on-premises call centers, hence boost call center AI market, owed to minimal investment and ease of deployment luring businesses to adopt it. In addition, cloud-based software offers multiple plans to select the one that fits the requirement and budget. The rise in software demand is owed to the inexpensive, high scalability, and ease of use features. In addition, it improves operational efficiency, reduces operational costs, and enhances the productivity of the workforce.

Moreover, this software alleviates the full-time work model from the call center, making it a cost-effective solution for SME organizations. Applications include interactive voice response technology that reduces costs involved in the associated and live call attending services by directly routing the call to the right department agent by voice commands, resulting in the expansion of the market.

Furthermore, the COVID-19 pandemic outbreak propels the call center AI market due to a significant rise in the overall call volume to call centers. According to a report, over 300% rise in calls were witnessed during the early phase of the global pandemic lockdown. In addition, IBM Watson Assistant experienced a 60% surge in the monthly active users from the first to last month of 2020 which resulted in an increase in investments of the businesses for software to automate processes and increase the efficiency of redundant tasks.

North America captures the largest call center AI market share, and it is predicted to generate revenue worth $6,582.4 million by 2030, advancing at a rate of 23.3% during the forecast period, led by the strong presence of the key players in the region and the increased investments made on call centers to facilitate efficient services to retain customers across industries.

Therefore, the inexpensive solutions, high efficiency, and improved productivity with remote access proliferate the market.

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Non-Residential Category Held Largest Share in Central Vacuum Cleaner Systems Market

The central vacuum cleaner system is a particular kind of vacuum cleaner device that is mounted inside a structure as a temporary installation. To remove dirt and trash from houses and buildings, central vacuum systems use tubing installed within the walls to transport the dirt particles to a collecting receptacle in distant utility space. The central vacuum cleaner systems market is expected to reach $948.9 million by 2030.

Systems with bags are widely favored in the central vacuum cleaner market, and the requirement for such systems is anticipated to grow significantly in the future since they are sanitary, simple to clean, and require less maintenance. However, bagless devices are mostly employed in environments where the dust contains metallic particles that might damage bags.

The central vacuum cleaner market is accounted for 60% share by ground-mounted systems, which are predicted to increase more quickly over the projection period. The rise is mostly due to the widespread use of central vacuum cleaners, which have more suction strength than wall-mounted systems, in non-residential spaces like commercial and hospital buildings.

Furthermore, it is expected that the residential sector would increase significantly during the next several years. This might be attributed to the rising demand for cutting-edge cleaning equipment brought on by an aging global population and dual-income homes. The kitchen and carpet are the two most common applications in this category, although waste collection and auto cleaning are also in high demand.

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Asia-Pacific has the Largest Revenue in Anti-Reflective Coatings Market

The size of the anti-reflective coatings market is around $4,554 million in the year 2021, and will generate about $8,577 million by the year 2030, advancing with a growth rate of above 7% by the end of this decade. The main factors which drive the market comprise the increasing demand for anti-reflection coats in the photovoltaic and eyewear industries, along with an upsurge in the acceptance of anti-reflective specs in the construction industry.

Solar panels will have the highest growth rate in the near future, at approximately 8%. This can be credited to the widespread utilization of such coatings in solar panels for increasing overall efficiency, the snowballing need for inexpensive solar cells with enhanced resilience and reliability, and the surging necessity to reduce photovoltaic surface reflection. By the way, the many government programs that support the usage of solar power, like subsidies and loans, will help the anti-reflective coatings market grow at a high pace.

The anti-reflective coatings market of the APAC has the largest share, of revenue of over 35%, and it will push with a momentous growth rate consequently of the expansion of the aerospace industry and the increase in the necessity for packaging in logistics. Countries like India, China, and South Korea are the major producers of electronic products. Therefore, because electronics are the most important application of anti-reflective coatings, the market of the region is budding swiftly.

North America also holds an important share in the international market. The incidence of many established companies, growing consciousness about the aids of coated spectacles, the rising construction sector, consumers’ rising unrestricted spending, and the booming automotive sector are some of the main drivers of the anti-reflective coatings market in the region.

The increasing requirement for anti-reflective coatings is because of the fact that they are used in eyewear and photovoltaic industries, and the need for anti-reflective spectacles in the construction sector.

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How Does Digitization Result in Content Service Platforms Market Growth?

 In 2021, the content services platforms market was valued at $39.8 billion, and it is projected to acquire a size of $155.8 billion by 2030, growing at a rate of 16.4% from 2021 to 2030. The increase in the implementation of SMAC technologies and the mass creation of digital content across enterprises facilitate market growth, as do the growing trend of mobile workforces, increasing research and development expenditures, and technological advancements.

Content Services Platforms Market Revenue Estimation and Demand Forecast to 2030

The content services platforms market is dominated by case management, workflow management, information security and governance, content reporting and analytics. The demand for training & consulting, deployment & integration, support and maintenance is also expected to rise, resulting in a surge in the market. The pandemic resulted in a 30% increase in the market in 2020 due to mass shifting in digital operations and increased work-from-home trends due to restricted movements.

The cloud-based platform category has captured the largest share, of 55%, in the content services platforms market. It is attributed to the increasing demand for procurement, deployment, operations, and access to new technologies among different end users, which has further resulted in native SaaS and PaaS vendors' market growth. Moreover, traditional companies have also gradually started shifting to SaaS and PaaS solutions, resulting in market expansion. Cloud-based solutions reduce the need for storage on on-premises storage, reduce IT investments, and offer higher scalability.

Large enterprises are a significant contributor, accounting for 65% of the content services platforms market revenue. They make heavy investments in new technologies and opt for on-premises deployment mode to further reduce security concerns. However, there has been a rising trend of shifting to cloud-based content services, attributed to the facilitation of anywhere, anytime access. Small and medium-size enterprises are also likely to get a stronghold in the market due to the increase in remote work activities and ease of tracking employee efficiency.

BFSI made the largest contribution to the content services platforms market in the end user segment, amounting to 20% share in 2021. It is attributed to the mass adoption of cloud solutions for storage, reporting and analytics, APIs and containers, and master data management. On average, 2.5 quintillion bytes of data are generated daily, requiring an annual cloud investment of $67 billion by financial institutions. The public sector is mainly adopting these solutions to advertise their services to citizens. For example, Electricity & Cogeneration Regulatory Authority (ECRA) of Saudi Arabia has adopted an enterprise content services suite offered by Intalio.

North America generate the highest revenue, amounting to 30% of the content services platforms market value. The U.S. contributed massively to the North American market, accounting for an 85% share in 2021. The region's key vendors of content services platforms essentially invest in the research and development of new technologies. Moreover, the Chinese market generated 30% of the revenue in the market of APAC in 2021, attributed to a surge in internet traffic, low data prices, and high-speed connectivity in the region.

Artificial intelligence in content services platforms has gained tremendous popularity, primarily for productivity intelligence, security intelligence and content intelligence applications. Market players are making efforts to cater to the rising demand for AI. Moreover, the growing trend of digitization leads to the expansion of the e-commerce sector, facilitating the rise in the demand for single-source and cross-platform content services platforms. Similarly, numerous organizations utilize big data analytics for business intelligence, as content services platforms facilitate extensive data integration.

Thus, the growing trend of digitization, facilitated by high-speed internet connectivity, ls leading to the boom of the market.

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How Is Data Center Power Generators Market Driven by Migration from Server Rooms to Data Centers?

The data center power generators market valued $5,097.1 million in 2021, which will grow with a CAGR of 5.9% from 2021 to 2030. At this rate, it is expected to reach $8,572.6 million by the year 2030. The increasing demand for customized generators is the major factor leading to the market growth. Moreover, the growing production of data that large organizations need to store, manage, and analyze is resulting in the rise in the fabrication of new data centers. The launch 5G networks and increasing adoption of IoT are also elevating the market growth.

Large data centers require power reliability due to their expansive infrastructure. It becomes crucial to have power backup equipment in order to protect critical equipment from power failures and surges. Large data centers demand efficient solutions for power monitoring and management for their servers, security systems, networking devices, and HVAC equipment. Enterprises that use cloud computing extensively require generators in data centers as a necessity. Thus, the rising count of hyper-scale facilities drives the use of DRUPS systems.

The highest growth rate in the data center power generators market will be witnessed by 0–1.5-MW-power-capacity generators, ascribed to their growing adoption in small-scale data centers, considering their cost-effectiveness. Moreover, a large number of data storage and management facilities requiring a power supply of <5 MW are being constructed to keep operational costs to the minimum. Thus, with most of the data centers in developing countries being developed with a lower power requirement in mind, the sale of these variants will keep rising.

North America held a significant data center power generators market share, of 39%, in 2021. It was due to the proliferation of public cloud and hybrid cloud services. Cloud data center developers and colocation and telecommunication service providers are the major contributors to generator sales. Big players in the market, such as Caterpillar Inc., Generac Holdings Inc., and Cummins Inc., are also present in the region, as are major IT firms, such as Facebook, Amazon, Microsoft, IBM, and Accenture.

Thus, the increase in the internet usage is leading to the expansion of the market, with the growing migration from server rooms to the cloud.

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Japan Diesel Generator Set Market to Reach Approx $1,816 million by 2030

The Japan diesel generator set market stood at approximately $1,120 million in 2021, and it is expected to grow at a rate of almost 6% by the end of this decade, to touch a value of about $1,816 million by 2030. The growth of the industry will be pushed by the surge in population in the cities and the high frequency of power cuts faced by a huge share of the population of the nation, because of natural calamities.

Japan is among the most-densely urbanized nations in the world. Among its 47 regions, only seven have a below 1 million population.  As per the World Bank, the urban population increased from about 91% of the total in 2010 to about 92% in 2020. Consequently, the urban areas are in need of a huge amount of electric power to meet the ends of the people. Thus, the requirement for generators is on the rise in the nation for meeting the demand for backup power.

In 2021, the commercial sector had the largest share in Japan diesel generator set market, and it will grow at a rate of about 6% by the end of this decade. Over the last ten years, companies in Japan are attentive to the future, as they begin businesses for long-term affluence. As opposed to 2020, both the hospitality and retail industries are expanding, because of the domestic company divestitures meant to reinforce the sectors.

Mavens of the Japan diesel generator set market are emphasizing on the innovation of the mechanism and power system of diesel gensets, for meeting the precise requirements of inhabitants of Japan. For example, in January 2022, Cummins Inc. introduced the C550D5 and C500D6 series diesel generators for prime and replacement purposes, in the country. This series is intended to offer an advanced power density as opposed to 15 and 16-liter alternates with a displacement of 42 kVA per liter.

Japan is a country that is often struck by natural disasters, and due to this, there is a frequent power outage in the country. This is the main reason for the increasing need for diesel gensets in the country.

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Why North America Rules Video Surveillance as a Service Market?

By 2030, the global video surveillance as a service market is predicted to touch $13,584.3 million, since being valued at $2,992.4 million in 2021. The market will grow at an 18.3% CAGR from 2021 to 2030 owing to the rising number of smart cameras and several accompanying sensors, which has resulted in an inclination toward in-band analytics. This combination of variables will augment growth in the market. For instance, there is extensive use of in-band analytics, smart cameras, and other techniques to facilitate operations.

The enormous adoption of cloud-based services is creating lucrative opportunities for the video surveillance as a service market. The swift adoption of technology will help the market players to adapt to the shifts in the tastes and preferences of the consumers and the existing market dynamics. Thus, the rising availability of higher frequency bandwidths and various innovations made in cloud computing technology will drive the global market. Users in the surveillance industry are robustly using cloud-based services to cater to their requirements. There is an inherent benefit of swifter response, evidence tampering prevention, and enhanced reach.

VSaaS Size and Share Analysis Forecast to 2030

The surging internet penetration will spur the video surveillance as a service market growth. A market share of at least 35% is held by the hosted category, based on type. This can be ascribed to the extensive utilization of hosted video surveillance as a service in the development of smart cities, and the retail and residential sectors. Moreover, swift-paced internet connectivity, profit-orientation of 5G services, and the surging mobile phone penetration will propel growth in this industry. The lower subscription fees will account for higher sales.

Within the vertical segment, the BFSI sector will generate high revenue in the video surveillance as a service market on account of the rising disposable income of the people. The VSaaS provides several benefits including surveillance data access, adding devices flexibility, and lower initial costs. Because of this, these devices are being highly integrated into financial institutions to keep an eye on staff and customers. Furthermore, it also reduces the threats of robberies and kidnapping, enabling the detection of frauds at cash centers to deploy security within banking processes.

North America rules the video surveillance as a service market, accounting for approximately 40% of the total revenue. This can be credited to extensive government support, rising threats of terrorism, and surging crime rates in the region. The most usual users of VSaaS are office spaces, restaurants, and hotels. There is an increasing installation of modern surveillance systems by the government in public spaces. In addition, it is also working to expand the usage of these services in the infrastructure and defense industries. 

Moreover, there is a consistent growth in the European industry because of extensive government support, greater deployment of technologically advanced devices in numerous sectors, coupled with a rising integration of cloud-enabled VSaaS. In addition, APAC will also not lag due to the rising preference for the smart city concept and greater concerns about safety among the citizens in the digitalized era. Thus, the market will boom in the coming years globally.

Hence, extensive government support and rising internet penetration will drive the market.

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Why Is North America Dominating Carbon Capture, Utilization, and Storage Market?

By 2030, the carbon capture, utilization, and storage market are expected to generate $17,835.6 million value, from $2,037.0 million in 2021. The increasing emphasis on lowering carbon emissions, the government plans to achieve carbon neutrality in 2050, and the growing demand for CO2-EOR methods are the main drivers cited for the market's rise.

Startups engaged in the creation of cutting-edge carbon capture technology are receiving funding from investors and venture capital firms. For instance, Despite the COVID-19 epidemic, VC-backed firms got investments totaling over $325 million in 2020, an increase of almost $75 million from the previous year.

Additionally, commercial methods for deploying CCUS systems have shifted away from the development of massive, standalone installations and toward the development of industrial hubs with common CO2 storage and transfer facilities. The installations offer large economies of scale and low commercial risks because of innovative business models that concentrate on transportation and storage services.

In the past, the North American carbon capture, utilization, and storage market contributed to more than 35% of total revenue; this position is anticipated to hold during the projection period. This is attributed to both the rising integration of CCUS projects with anticipated liquified natural gas developments in the region and the rising demand for goods and fuels with a smaller carbon footprint.

However, over the projection period, the APAC carbon capture, utilization, and storage market are anticipated to develop at the quickest rate. This is because most brand-new projects are being developed in developing nations, where pollution is high. There are additional benefits for businesses to locate their projects in APAC due to the region's excellent geology for carbon sequestration.

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Frequent Power Outages Help the Growth of Malaysia Diesel Generator Set Market

The Malaysia diesel generator set market was around $83 million in 2021, and it will propel at a growth rate of about 2% in the coming years, to reach nearly $98 million by 2030. This is due to the fact that the Malaysian government is focusing on growing infra development, with plans to construct 1 million houses for catering to people below the 40% income bracket by 2029.

The above 750 kVA generator set had the largest demand in the Malaysia diesel generator set market in 2021, and it will grow at a growth rate of around 2% in the near future. The demand for these generators chiefly arises because of applications in the industrial sector. During the last 20 years, the country has manufactured 40% of the global production of hard disk drives, and it is one of the major exporters, leading to industrial sector growth.

In 2021, the demand from the commercial sector in Malaysia diesel generator set market  was the highest, and it will increase at a growth rate of 2% by the end of this decade. Over the last 10 years, the nation has become a popular center for medical tourism, ICT, and logistical services. Likewise, it is situated at the center of the market in Southeast Asia.

Key players in the Malaysia diesel generator set market are involved in numerous strategic developments, for instance, product introduction, to remain competitive in the market. For example, Cummins Inc. revealed the EC-AGS+ wireless system in September 2021, for Onan gas and diesel generators. It lets users regulate the generators with the help of a mobile app. The wireless control lets autonomous, manual, and voice activation start diesel generator sets, offers reminders for maintenance via Bluetooth, and allows climate monitoring.

The demand for diesel generators in Malaysia is increasing day by day, because of the frequent power outages, and a need for an uninterrupted power supply.

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How Does Expansion of Healthcare Sector Boost Medical Polymer Market?

In 2021, the medical polymer market generated $17,842.5 million, and it is expected to reach $36,035.3 in 2030, advancing at a rate of 8.1% from 2021 to 2030, ascribed to the market proliferation, and rise in the expenditure on healthcare.  Moreover, North America captures the massive market share, accounting for 41.8%, led by the surge of healthcare facilities and advancements in medical technology. The rise in the U.S. population is also expected to increase the demand for hip and knee implants, dental base materials, and tooth implants further increasing the demand for medical-grade polymers.

The North America medical polymer market is expected to grow by the rising demand for such plastics in pharmaceutical packaging applications, due to expansion of the Canada’s pharmaceutical industry. In addition, numerous manufacturers of medical components and devices in the U.S. are utilizing medical polymers for their products. In addition, the penetration of the major medical-grade plastics manufacturers and suppliers boosts the market.

Europe is the next-significant contributor to the medical polymer market, attributed to favorable reimbursement and growing political support for medical devices. In addition to this, the upgradation in the medical device directives is expected to enhance the medical products with technological advancements and increased safety. It is thus expected to result in a market boost, causing a significant rise in the demand for the project.

The surge in the usage of medical polymers in the production of medical devices, packaging, and surgical instruments, resulted in the rising requirement for polymers, due to the massive increase in the healthcare industry. Moreover, plastics are widely used in the packaging of medical devices, wound care, orthopedic soft goods, and other healthcare products.

Therefore, the expansion of the healthcare industry, with increasing demand for medical devices, and the rising elderly population proliferate the market.

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How Does Emerging Economies Impact Medical Polyether Ether Ketone Market?

The medical polyether ether ketone market generated $582.4 million in 2021, and it is expected to rise to $1,146.6 million in 2030, advancing at a rate of 7.8% from 2021 to 2030, ascribed to the massive replacement of the metallic implants made from PEEK, due to increasing government funding to healthcare services and the emergence of private players.

Moreover, high-performance plastic garners have a high preference among materials for trauma fixation, dental implants, cardiovascular devices, and numerous other applications. In addition, the rise in the geriatric population in Asian, North American, and European countries, along with rising sports injuries are expected to boost the market.

The rapid industrialization, and increase in the research activities in the developing countries, more preferably in the APAC region boost the medical polyether ether ketone market, due to an increase in the manufacturing of PEEK-based medical products. In addition, the major players in the market are focusing on a range of strategic plans for business development, such as investments, partnerships, and product launches to advance their position in the market. Thus, it has resulted in high-grade polymers for devices & medical implants.

North America contributes significant revenue to the medical PEEK market, ascribed to the expansion of healthcare facilities, and innovations in medical devices. Moreover, the surging requirement for stents, heart valves, spine implants, and knee and hip implants led by the growing population in the country, results in an increase in medical-grade plastics usage. 

Moreover, the penetration of the medical devices and component manufacturers that utilize PEEK in the country boosts the market. Along with this, the presence of major manufacturing companies in the U.S. drives the region’s market. 

Therefore, the increasing use of PEEK as titanium substituent in dental implants and prevalence of the cardiac diseases propel the market.

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How Does Digitization in Manufacturing Sector Impact Motion Control Market?

 The motion control market generated a revenue of $14,887.5 million in 2021, and it is expected to contribute $23,286.4 million in 2030, progressing at a rate of 5.1% from 2021 to 2030, ascribed to the rising demand for industrial robots and integration of components with the motion control systems for convenient use.

Moreover, the evolving motion control standards and protocols propel the market, for example, the OPC UA TSN protocol controls the entire system, while MQTT is a lightweight protocol relevant to the communication between two applications. MQTT is integrated into a single product and allows a drive or sensor to extract data from a device and send it to the cloud. 

Motion Control Industry Analysis and Growth Forecast, 2030

Additionally, the advent of digitization in the manufacturing sector, fuelled by the industry 4.0 revolution expands the motion control market. The key contributor to the success of the industry 4.0 initiatives is mechatronics motion control. For example, smart servo technology facilitates inexpensive, high-efficiency, eco-friendly, safe, and compact machinery.

The motor is the crucial component in the motion control systems, and it captures 40% of the market share, due to an increase in the preference of manufacturers toward more energy-efficient motors to further reduce the operational cost and environmental footprint. Moreover, drives are predicted to experience exponential growth in the near future, at approx. rate of 5%, which regulated the speed of the electric motors.

Closed-loop systems dominate the market, attributed to their wide usage across industries, owing to numerous functional benefits of closed-loop systems than open-loop systems that involve no human intervention, due to complete automation.

The automotive industry contributes significant revenue to the motion control market, amounting to 20%, and it is expected to retain its position in the near future, due to massive autonomous driving technologies adoption. Companies are focusing on launching automated driving or self-driving facilitating motion control solutions. For

General variants hold an extensive proportion of the motion control market, and they are projected to experience substantial growth in the near future. The surge in the GMC category is led by the wide GMC servo motors and servo drives application across industries, primarily electronics, semiconductors, and food and beverages. For instance, Nexteer Automotive partnering with Continental Automotive launched a joint venture, CNXMotion, integrated with the Brake-to-Steer technology and steer-by-wire system variants across various SAE levels of driving automation.

The next significant end user of the motion control market is the semiconductor & electronics industry, and it is expected to witness a rise in the demand for the solution at the highest growth rate, due to the increase in adoption of the drives, high-tech motors, and motion controllers. The demand is also rising due to the complexities of the electronics and semiconductor manufacturing process, resulting in the increasing acceptance of miniature devices and microelectronics development.

APAC captures the largest share of the motion control market, accounting for 50%, and it is predicted to retain its position in the near future, due to the rising machine tools production and use of customized robots for varying applications. Moreover, the expansion of the manufacturing plants and quality machine development process is predicted to cause market propulsion.

Therefore, the new product launches in the automotive industry to support self-driving or autonomous driving boost the market.

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