Improving Quality of Life: The Rising Demand for Pressure Relief Devices in the Global Market

Pressure ulcers are defined as localized injuries to the skin underneath the tissue induced by the bony portion as a result of continuous pressure or pressure combined with sheer friction.

Devices that relieve pressure include those that spread out the weight of the body across a wide area and offer a conforming support surface. Patients of all age groups who have pressure ulcers should use these devices. Patients with numerous lifestyle-related disorders, including cardiovascular disease, diabetes, and obesity, benefit from the usage of such devices.

Geriatric Population Growth and Obesity

Obesity-related disorders and the rise in the senior population are driving the need for pressure ulcer devices. For example, research carried out in North America shows that the number of Americans 65 and older is expected to double from 45 million to 95 million in 2060.

Between 2009 and 2012, the "Population Reference Bureau" reported a sharp rise in obesity among older individuals in the United States, which now affects almost 40% of those between the ages of 65 and 75.

Numerous Low-Tech Devices Are in Use

Due to their simple operation, low cost, and outstanding performance in ulcer prevention, low-tech devices had the most share in the past and are anticipated to continue doing so in the coming years. Foam-based mattresses are the most prominent investors among low-tech gadgets because they absorb movement pressure, allowing for pain relief and uninterrupted sleep.

Need for Healthcare Infrastructure Is Growing

The worldwide healthcare system has been advancing and changing throughout time. The need for cutting-edge medical equipment, including pressure relief devices, has been rising in tandem with the fast growth of the healthcare infrastructure to meet the needs of pressure ulcer patients.

Growing public-private partnerships (PPP) and investments from third parties in medical facilities are also fostering the expansion of the medical sector, which in turn is fueling the demand for pressure relief devices.

Why Does North America Control the Most of the Market?

Due to the high frequency of pressure ulcers there, the North American market now owns a 37% share, and it is anticipated that the area will continue to dominate the industry. In addition, the development is being fueled by government support as well as the presence of an established reimbursement network.

Read More

North America Is Driving Animal Healthcare Market

The global animal healthcare market was valued at USD 40.2 billion in 2022, and this number is projected to reach USD 84.9 billion by 2030, progressing at a CAGR of 9.8% during 2022–2030, as per a report by a market research firm, P&S Intelligence.

The growth of the industry can be credited to the snowballing consumption of milk and meat, increasing acceptance of pet animals, and rising frequency of food-borne zoonotic diseases.

Moreover, pet adoption in Germany is climbing sharply can be credited to the pandemic, with people looking for approaches to fight boredom and loneliness, hence boosting the need for dogs, cats, and other animals.

In the coming years, the companion animals’ category is predicted to advance at a higher CAGR, above 7%. This is mainly because of the snowballing number of companions and growing investment in their well-being. Globally, cat and dog ownership has been increasing progressively.

In 2022, North America had the largest revenue share, of approximately 35%. The need for feed additives is growing because of the heavy consumption of animal products. The U.S. is the world's major beef producer and prominent exporter as well. To supply nutritive animal-derived food, the need for feed additives is growing in the continent.

Hence, the snowballing consumption of milk and meat, increasing acceptance of pet animals, and rising frequency of food-borne zoonotic diseases, are some major factors that will drive the animal healthcare industry in the future. 

Read More

Home-Use Beauty Devices Market Will Reach a Value of USD 89,535.1 Million By 2030

The Home-Use Beauty Devices Market is experiencing growth and is projected to hit USD 89,535.1 million by 2030, according to a research report by a market research company P&S Intelligence.

The market is boosted by the increasing awareness regarding appearance, rising frequency of skin diseases, growing elderly populace, and snowballing awareness of beauty devices.

Based on technology, the laser/light category had the largest market share in the past. The high acceptance of laser technology is mainly because of its capability to reduce the redness and irritation related to skin conditions, including rosacea and acne by aiming specific parts of the skin, while not impacting other areas.

The introduction of new and advanced beauty items in the past few years has altered the scenario of the home-use beauty devices industry by enabling the public to cure skin illnesses, advance skin texture, and reduces the signs of aging. Beauty product businesses are constantly emerging with better and more innovative products in response to the customer demand for cutting-edge skincare and haircare solutions.

The rising elderly populace plays a vital role in the development of the home-use beauty devices market. In the skin layers, aging causes the damage of fibrous tissues and a decreased glandular and vascular network, which causes dryness, wrinkles, pigmentary changes, and skin sagging. Anti-aging products, which support rejuvenating and tightening the skin, are being utilized in a large number to cure such skin difficulties in the aging population.

Moreover, countries such as Vietnam, India, China, Indonesia, and Thailand are providing abundant growth opportunities to the key players, basically due to their growing millennial populace. Also, the need for multifunctional items is increasing as cost-conscious customers are selecting products that provide multiple features.

Hence, the increasing appearance awareness and rising frequency of skin diseases, are the major factors that will drive the home-use beauty devices industry all over the world in the future as well.  

Read More

Autonomous Mobile Robots Market To Reach USD 10,979 Million by 2030

The total size of the autonomous mobile robots market was USD 3,148 million in 2022, and it will reach a value of USD 10,979 million by 2030, advancing at rate 16.90% in the years to come, as per a report by a market research company, P&S Intelligence.

The logistics category had the largest share of revenue, of about 29% in the past. These robots are chiefly installed for transportation of goods within a warehouse or storage capacity, therefore allowing actual inventory management. This results in a decrease in the complete logistics cost and streamlining supply chain. 

Autonomous Mobile Robots Market Size and Share Analysis Report

Hence, as per the IFR, above 5 million AMRs will be functioning in about 60,000 warehouses worldwide by 2025.

Furthermore, a new breed of  AMRs is assisting logistics firms with various warehouse duties. AMRs can release the humans from routine duties, letting them to lay emphasis on more-rewarding and value-adding activities. 

In the years to come, a more-widespread acceptance of AMRs across a broader various use cases will be done, accompanied by progressions in their technical reliability and maturity.

The increasing requirement for factory automation solutions is a major factor driving the industry. Because of the increasing intricacies in manufacturing procedures, higher labor costs, lack of laborers, and growing emphasis on increased productivity, the requirement for factory automation solutions is increasing worldwide.

Likewise, logistical hubs and warehouses need AMRs for transportation and loading work. Additionally, in China and India, companies are more and more concentrating on automated solutions for compensating for labor shortages and advance the product quality, for competing in global markets.

APAC autonomous mobile robots market will have a significant growth rate of about 18.2% in the years to come. This will continue its dominance in the years to come. Peoples Republic, Japan, and South Korea are the key buyers of these robots, which, in line, is powering the global demand.

Moreover, because of the numerous government initiatives, for example Made in China 2025 and Make in India, which aim at accelerating automation in the manufacturing industry, the requirement for AMRs is increasing across the region, chiefly in India, Thailand, China, and Indonesia. 

For example, in the Made in China 2025 plan, the government of China is applying automation and robotics technologies in the manufacturing sector.

Correspondingly, the Indian government is concentrating on formulating an ecosystem for the propagation of Industry 4.0 in each manufacturing-related sector of the nation by the 2025.

It is because of the increasing requirement for the automation of factory operations and growing e-commerce sector, the demand for autonomous mobile robots will increase significantly in the years to come.

Read More

Business Continuity Management Market Will Touch $1,673 Million by 2030

The global business continuity management the market was valued at $536 million in 2022, and this number is expected to reach $1,673 million by 2030, advancing at a CAGR of 15.30% during 2022–2030, as per P&S Intelligence.

This growth is mainly credited to the increasing dependency on digitization, snowballing IT expenditure, integration of cutting-edge technology, increasing operational hazards in administrations, and mounting acceptance of business continuity solutions in SMEs.

Business Continuity Management Industry Revenue Estimation and Demand Forecast to 2030

Business continuity management comprises an organization's policy and preparation to keep optimum operations or speedily recover after a disaster. It also involves the detection of threats. The benefits of a robust BCM strategy, include the ability to endure cyberattacks and natural disasters. Additionally, sustaining a strong financial status and offering a brilliant customer experience during mishappenings can be difficult. Here, continuity preparation guarantees that the service and product quality is upheld. This becomes exclusively important for businesses’ food items or healthcare-associated goods.

The solutions category held the larger revenue share in 2022 and it is expected to maintain its dominance during the projection period. The growth is mainly attributed to the increasing deployment of BCM solutions for risk management, crisis management, and audit management. Additionally, the promptly changing corporate environments and the development of data recovery or risk management solutions will drive the business continuity management market.

In 2022, the large enterprise category held the larger market share of 75% and is projected to remain in the leading spot in the future as well. This can be credited to the capability of large enterprises to do significant IT expenditures, to deploy and improve their business continuity strategies. Furthermore, large organizations have discrete operations and enormous amounts of Important enterprise data. Thus, they are bound to incorporate effective business continuity strategies to manage operations.    

The APAC market is projected to grow at a CAGR of 16.1% in the future. This is can be ascribed to the fast economic growth in the key countries, the snowballing occurrence of large enterprises, increasing IT services, lifting IT expenditure in emerging countries, including India and China, and the development of cloud technology in the region.

The region is witnessing rampant industrialization and corporatization, which are leading to a proliferation in the number of business enterprises operating here. Moreover, countries are upping their spending on digitization initiatives, which is a key reason behind the rising demand for BCM solutions.

Hence, increasing dependence on digitization, snowballing IT expenditure, integration of cutting-edge technology, increasing operational hazards in administrations and mounting acceptance of business continuity solutions in SMEs are major are major factors driving the business continuity management industry growth. 

 

Read More

Digital Twin Market Will Touch $195,347.6 Million by 2030

The digital twin market has garnered $7,683.4 million in revenue in 2022, and it is projected to rise at a rate of 49.9% from 2022 to 2030, to capture $195,347.6 million by 2030, according to the research company P&S Intelligence.

This growth can be credited to the snowballing adoption of artificial intelligence, the internet of things, machine learning technologies, and 5G, Industry 4.0, increasing emphasis on the manufacturing sector on digital twins to lesser cost and improved supply chain operations, rising solution demand in the healthcare industry, and growing shift toward cloud services.

 

In 2022, the small & medium enterprises category had a considerable market share, and their usage of these solutions is projected to grow at a CAGR of 52.2% in the years to come, owing to the fast digital transformation. Furthermore, the need for virtual modeling solutions is rising between these enterprises to improve products, estimate faults in early stages, and schedule timely maintenance. This further supports significantly lowering downtime and advanced product performance.

 

In 2022, North America had the largest revenue share, of 36%. This growth is mainly credited to the early acceptance of enhanced technologies, including ML, IoT, and AI, robust IT infrastructure, and a mounting concentration on Industry 4.0 standards, mainly in the automotive and manufacturing sectors. According to GSMA Intelligence, internet of things revenue in the continent is projected to be $337 billion by 2025, which will be around three times the revenue recorded in 2018.

 

In 2022, the product category was the largest revenue generator, and it is expected to continue its dominance in the future as well. This technology aids businesses to gather data on every possible prospect of a product, for greater visibility and to decline the mean time between failure and mean time to repair. This, indeed, enables advanced system and price effectiveness and enterprise productivity.

 

Additionally, virtual modeling is the most popular technology in product design. The expenditure for aerospace businesses in part design and growth is very high, which is why they are utilizing this technology to lower prices while making new designs. Aerospace companies use such solutions to make several critical systems, including thermal protection systems, airframes, and avionics.

 

The inclination toward interconnected environments throughout industries is growing the demand for digital twin solutions throughout the globe. Enormous acceptance of IoT is being experienced, with above 41 billion connected IoT devices projected to be in use by 2025. For the effective functioning and implementation of IoT, snowballing the quantity for every part, or “thing”, is essential, which is made possible by the support of this technology. 

 

Hence, the snowballing adoption of artificial intelligence, the internet of things, machine learning technologies and 5G, Industry 4.0, increasing emphasis on the manufacturing sector on digital twins to lesser cost and improved supply chain operations, rising solution demand in the healthcare industry, such factors will drive the digital twin market in the future.

Read More

Battery Management System Market Is Set To Hit USD 26,797 Million by 2030

For overcharge discharge, under/over current, under/over voltage, under/ over temperature, and short circuit protection, battery management systems are utilized. They come in master-slave and single-board configurations.

Specific algorithms, such as cell/module balance, SOC, SOH, and real-time charge/discharge current management, are used in these systems. These systems are used in commercial and industrial buildings, utility grid support systems, specialized vehicles, and residential energy storage.

By 2030, it is predicted that the market for battery management systems will surpass a value of USD 26,797 million, as per P&S Intelligence. This is mostly related to the expanding popularity of rechargeable batteries in consumer gadgets and the growing demand for EVs.

The government constantly places a focus on hybrid and electric vehicles in order to reduce carbon dioxide emissions, both in industrialized nations like North America and in developing ones, such as the Asia Pacific market.

Public transportation has undergone a technological change as a result of the increase in air pollution. All the industrial players are converting to renewable energy sources in order to comply with government regulations. Batteries are widely used in the consumer electronics, communications, and automobile industries.

One of the best options for a sustainable environment is EVs. The use of EVs is increasing as environmental preservation is given more attention. R&D efforts are being prioritized by automakers to enhance the performance of EVs.

Wireless EV battery management solutions are increasingly preferred over traditional battery management systems because of their greater flexibility, cheaper price, and reduced complexity.

An electronic circuit known as the battery management system is specifically created for EVs to guarantee the stability and safety of their battery packs. Several elements, including battery life and health, safety, cell voltage, and charging-discharging rates, have an impact on how well EVs operate.

Lithium-Ion Battery Management Systems Are Popular in Consumer Electronics and EVs

Because lithium-ion (Li-ion) batteries have various advantages over other battery types, including a longer life cycle, higher energy density, lower maintenance required, and superior resilience, Li-ion batteries retained the greatest share of the market.

In addition, such batteries are environmentally beneficial because they have comparatively lower quantities of hazardous heavy metals than other battery types like lead-acid and nickel-cadmium batteries.

Additionally, the rapid growth of the automotive and consumer electronics industries in China and other European countries is promoting the usage of BMS. Li-ion batteries have drawbacks despite having a higher energy density, notably in terms of safety.

In 2022, Asia-Pacific accounted for the largest share in the market. The increase in need for battery management from automobile applications like electric cars, e-bikes, and automated guided vehicles is to blame for this. Hundreds of cells stacked in parallel high-energy-density lithium-ion batteries are used in such applications.

These cells need to be maintained and managed to prevent vehicle failure, making the system a crucial element in the design of EVs. The battery's performance, safety, and utilization are determined by the system.

China also dominates the APAC market because it is a significant center for the production of automobiles. A surge in the production of cars and the batteries used in them is boosting the nation's market.

Read More

Mobile Medical Imaging Services Market To Be USD 24,344.0 Million By 2030

The mobile medical imaging services market garners USD 14,321.5 million in revenue in 2022, and it is projected to rise at the rate of 6.9% in the coming future, to hit USD 24,344.0 million in revenue in 2030, according to a research report by market research company P&S Intelligence. This growth can be ascribed to the increasing frequency of chronic diseases and the snowballing number of diagnostic imaging centers.

In 2022, The mobile X-ray category generated the largest revenue share, approximately 30%, owing to the heavy expenditures, several initiatives, and guidelines of government bodies to advance radiography services. digital X-ray systems offer several benefits, including quick processing, accuracy, speediness, and significantly advanced patient screening volumes, which have supported their acceptance.

By 2030, The adult patient category is set to hold the largest mobile medical imaging services market share, at approximately 60%. This can be credited to the increasing frequency of chronic diseases, including endocrinal, CVDs, GI, cancer, and neurological disorders, in adults. Chronic illnesses are long-lasting health conditions that mainly impact the elderly and, commonly, have no treatment.

Mobile devices allow imaging faculties to be offered to patients with restricted space and capital. Ultrasounds and Mobile X-rays can be utilized to offer diagnoses to individuals at their houses, which is particularly helpful for aged people.

In 2022, North America led the market, generating a revenue share, of approximately USD 6.5 billion. This can be ascribed to the existence of several key players in the U.S. North America has a greater rate of acceptance of mobile medical imaging faculties in comparison to other regions. The progress in the requirement for remote patient monitoring and telemedicine facilities in the continent is projected to boost the growth of the market. 

Hence, the increasing frequency of chronic diseases and the snowballing number of diagnostic imaging centers, are propelling the demand for mobile medical imaging services. 

Read More

Nuclear Imaging Equipment Market To Reach USD 4,463.7 Million by 2030

As per a report by P&S Intelligence, the size of the nuclear imaging equipment market was USD 2,651.3 million in 2021, and it will grow at a rate of 6% in the years to come, for reaching USD 4,463.7 million by 2030.

For example, the SPECT/CT system allows specific localization and improved specificity of the data delivered by a CT scan, in the case of skeletal inspection. Numerous hospitals are progressively switching from standalone to hybrid equipment because of these advantages.

Some of the current progressions in imaging technology that are applicable to radionuclide therapy include:

A main benefit of PET/MRI over PET/CT is an improved soft tissue contrast, which is essential for treatment planning, dosimetry, and post-radionuclide therapy assessment. It is beneficial since it offers the concurrent co-registration of MR descriptions, which is significant for precise dosimetry.

Also, numerous nations, chiefly the U.S. and those in Europe, are making a eagerness assessment framework for effective and smart ways of putting to use radio drugs, so as to offer safe and effective treatments. Therefore, most hospitals are concentrating on the therapy for cancer patients, encouraged by its high efficiency and few side-effects. Nuclear imaging is by now making a main contribution in detecting the area of spread of the cancer in the body.

Doctors can rapidly compare scans to precisely track the ailment's course, with the usage of integration of data. Clinicians now wish easy access to comprehensive data on patient diagnostic history, for developing a treatment plan that would be fruitful along with being cost-effective.

It is because of the increasing aging population, the demand for nuclear imaging equipment will be om the rise in the future.

Read More

Innovations in Bio-Decontamination: A Closer Look at the Market and its Future Prospects

As mentioned by P&S Intelligence, in one of its reports, the total size of the bio decontamination market was USD 171.4 million in 2022, and it will reach USD 294.7 million by 2030, powering at a CAGR of 7% by the end of this decade.

Equipment category dominated the industry, with around 55% share, in the recent past. This has a lot to do with the presence of numerous equipment and benefits related to them.

The equipment should be clean and have a surface free of any debris when steam sterilization is to be done, so that the sterilant can interact with all instrument surfaces.

Hydrogen Peroxide lead the industry, with over 40%, in the recent past. Low amount of hydrogen peroxide vapor is an efficient decontaminant for numerous bacteria. VHP might not only penetrate a lot of materials but also remove germs found in joints and seams. A vapor can efficiently enter these locations by permeating them. Plastic membranes can likewise be pierced by hydrogen peroxide vapor.

North America dominated the bio decontamination market with a share of 45%.  This has a lot to do with various factors, for example increasing HAIs frequency and surgical processes and incidence of major players. The main reason for augmented surgical procedures is growing incidence of cancer. In the U.S., and Canada cancer is the second-leading mortality cause, behind heart disease.

It is because of the increased incidence of hospital acquired infection and growing number of surgical procedures, the bio contamination industry will develop like anything  in the years to come, all over the world.

Read More

U.S. HVAC Services Market To Reach USD 35,971.7 Million by 2030

The total size of the U.S. HVAC services market was USD 25,221.3 million in 2022, and it will grow at a CAGR of 4.5% in the years to come, to reach USD 35,971.7 million by 2030, as per a report of a market research company P&S Intelligence.

The developing construction sector is a major driving factor for the demand for HVAC services. Owing to increasing population, swift urbanization, and increasing building construction market in the country. For example, as per the U.S. Census Bureau, the population of the U.S. will increase about 7% during 2019–2029.

U.S. HVAC Services Market Research Report

Further, with growing number of government initiatives toward growing home ownership, the nation is exhibiting increased residential construction activities. With increasing requirement for HVAC equipment, the requirement for related services, including installation, upgradation/replacement, and maintenance & repair, for proper functioning of the equipment is significantly increasing.

The cooling category generated the highest revenue, amounting over USD 10 billion, in the recent past.

Furthermore, the split units had a the significant revenue share in the recent past. Split units generally have an extensive service maintenance guide. Though a large portion of the maintenance cost of a split unit has a lot to do with the labor charges, and filters and fan blades, required to be replaced regularly.

The upgradation/replacement category dominated the U.S. HVAC services market in the recent past.

Instead, the consulting category will grow the fastest with around 7%in the years to come. Consultation also includes visual examination by a technician, identifying the potential issues of the system before the recommendation of thorough maintenance.

Increasing emphasis toward energy efficiency is one more key factor driving the growth of the industry. Maintenance of HVAC system on a regular basis reduces the consumption of energy. Additionally, with growing government focus in the direction of improving the energy efficiency and reducing the emission of carbon.

The southern region dominated the industry with over USD 9 billion in the recent past. This has a lot to do with the fact that cities in the southern region have varying climatic conditions compared to the ones in other regions. This influences the industry for HVAC systems, positively, thus increasing the requirements for related services.

Furthermore, in the years to come, the western U.S. will grow the fastest. This is because of the large number of residential and commercial construction projects being carried out, with an emphasis on green buildings and office space expansion.

Rapid urbanization has a major role to play in increasing the demand for HVAC services in the U.S. in the years to come.

Read More

Marketing Automation Market Will Reach USD 13,974.8 Million by 2030

 The size of the marketing automation market was USD 5,332.6 million in 2022, and it will grow at a rate of 12.8% in the years to come, to reach USD 13,974.8 million by 2030, according to a report by P&S Intelligence

The requirement for automated marketing solutions and services is growing significantly with organizations becoming more digitally integrated and an increasing number of people using the internet and mobile devices for shopping.

Marketing Automation Market Size and Share Analysis

The rising acceptance of digital marketing is one of the main reasons for the growth of the industry. Both SMEs and large enterprises are progressively accepting automation tools for advertising themselves on manifold channels, such as social media, email, and the web, and advancing the procedure of lead nurturing.

The development in digital campaigning is chiefly because of the increasing use of the internet in India, Japan, the U.S., China, Germany, the U.K., and other nations. Furthermore, most businesses are utilizing the automation software for making their digital promotion activities, including lead generation, relationship management, targeted segmentation, lead scoring, cross-selling and upselling, more fruitful. Furthermore, such software supports organizations in connecting with their likely customers, by analyzing their online activities.

Marketing automation software lets businesses produce leads by tracking and examining the activities and preferences of users, by means of the info users leave behind when browsing the internet. Moreover, with the assistance of such software, businesses can provide pertinent content to the potential customers, on the basis of their clicks and interactions on numerous social media platforms.

The increasing social media usage is also playing a vital role in the development of the industry. At present, social media platforms, including Twitter, Facebook, and Instagram, are driving novel forms of social interaction, giving businesses the aptitude to effortlessly reach a large count of potential customers.

SMEs will register the higher growth rate of, about 14%, in the marketing automation market, in the years to come. This is due to the increasing need for lessening burden of monotonous tasks, shift toward cloud computing, IoT, and other advanced technologies, and growing necessity for efficient business operations, ascertain the requirements of customers by analyzing their behavior on various online channels, and reducing operational expenditure.

Furthermore, these solutions provide cross-selling prospects, enhanced client engagement, reduced communication time, and augmented sales to smaller enterprises.

The cloud category had the larger market share, of over 70%, in the recent past. This has a lot to do with the vast implementation of the cloud computing technology amongst enterprises as it offers improved data access flexibility, high data storage, and reduced IT expenditure.

Hence, because of the increasing focus on business on promoting their product and services online, encouraged by the continuous growth of the e-commerce sector, the marketing automation industry is making giant leaps.

Read More

Clinical Decision Support System Offers Increase Access to Patient Data

Clinical decision support consists of numerous computerized and non-computerized tools and interventions. High-quality CDSS and computerized CDS are crucial to acquire the benefits of electronic health records as well as computerized healthcare order entry.

For instance, pharmacy information systems alert on the order of new drugs and propose a possible drug-drug interaction. Similarly, laboratory information systems (LISs) highlight critical care values.

A clinical decision support system keeps a record of all the data in the electronic health record and makes it possible to identify the changes.

There is a massive amount of clinical data is generated, with the advancement in healthcare. It includes electronic health records, patient surveys, disease registries, and information exchanges.

Moreover, healthcare professional usually makes decisions while directly interacting with the patient, having multidisciplinary or ward rounds meetings. It means several decisions are made in a few seconds or minutes and rely on medical knowledge and access to patient parameters to healthcare providers.

Presently, current decisions are made on the experience and knowledge of the professional. Also, unnoticeable changes in patients’ conditions before their admission to the ward are often ignored, and clinicians monitor current conditions.

However, a computer keeps a record of all the available data, and also makes it possible to see the changes outside the professional’s scope, and identify them for a specific patient, within normal limits.

The major companies operating in the industry are; Allscripts Healthcare LLC, NextGen Healthcare Inc., Siemens Healthineers GmbH, Cerner Corporation, McKesson Corporation, and Koninklijke Philips N.V.

Therefore, the massive amount of clinical data generation boosts the demand for a clinical decision support system.

Read More

Cyber Insurance Market To Reach $48,328.4 Million by 2030

The global cyber insurance market was valued at $11,904.6 million in 2022, and this number is expected to reach $48,328.4 million by 2030, advancing at a CAGR of 19.1% during 2022–2030, as per P&S Intelligence. This is accounted for the snowballing number of malware, virus, and other kinds of attacks on IT systems, the increasing regulation regarding cybersecurity, and the execution of related insurance as a risk mitigation strategy.

The healthcare category is forecast to experience the fastest growth, progressing at a CAGR of above 20% in the coming years. The snowballing digitalization and increasing usage of the internet in the healthcare industry for ease of accessibility to an entity’s information have formed online weaknesses, because of which vital records are being unprotected from external and internal threats.

Cyber Insurance Market Size and Share Analysis Demand Forecast to 2030

In 2022, North America held the highest revenue share, of approximately 50%. This can be accounted to the existence of key companies, including Chubb Group Holdings Inc., Lockton Incorporated, and American International Group Inc. in the continent. 

 

Additionally, the amplified concentration on the legal framework of cybersecurity and the growth of related government guidelines are other factors supporting regional growth. Compulsory legislation concerning the safety of IT networks in numerous states in the U.S. and the increasing acceptance of such guidelines among SMEs in the continent have directed to the more acceptance of cyber insurance policies.

 

APAC's cyber insurance market is estimated to witness the fastest growth in the coming years. Numerous developing countries in the APAC, like India and China, are confronting issues regarding cloud security and breaches in blockchain systems. Because of this, the governments of such countries are taking planned measures, including the execution of guidelines to advance IT security and the launch of several initiatives to spread knowledge about cyberattacks.

 

In 2022, the data breach category generated the highest revenue. With administrations becoming more dependent on digital data, workforce mobility and cloud computing, cases of breaches of vital data have increased exponentially. Sensitive data of organizations and customers are normally stored on companies’ databases, cloud servers, and local machines, which, many times, are vulnerable to breaches.

 

In 2022, the standalone category held the larger market share, of approximately 60%. Standalone guidelines offer establishments the capability to rapidly reimburse first- and third parties for losses in the occurrence of a data breach. Such guidelines compensate the money insured because of a breach, such as credit-monitoring costs, data restoration costs, IT forensic costs, public relations expenses, and cyber extortion.

 

Hence, the snowballing number of malware, virus, and other kinds of attacks on IT systems, the increasing regulation regarding cybersecurity, and the execution of related insurance as a risk mitigation strategy are major factors driving the cyber insurance industry's growth. 

Read More

Increasing Global Warming Will Drive Electric Car Market

In 2022, the electric car market registered a sale of 8.1 million units, and it is predicted to grow at a 23.8% CAGR, to reach 45 million units by 2030, as per P&S Intelligence.

In the past few years, electric vehicles have become a major area of attention for several automakers, such as General Motors, Ford Motors, and BMW AG. Moreover, the main factors that are driving the demand for battery cars include the snowballing consumer concentration in reducing their vehicles’ CO2 release, supportive government guidelines, and refining battery technology.

The improvement of electric vehicle batteries is the major factor for the lowering cost and expanding driving range of electric vehicles. New cell understandings are being studied to make electric vehicle batteries compact, and lighter, and increase the capability to store more energy, to enable such vehicles to strive against conventional fuel-based ones.

Based on volume, the U.S. is projected to witness considerable development, at a CAGR of 24.2% in the coming few years due to the growing government aid for eco-friendly automotive technologies. The vital initiatives for EVs in the country include the U.S. federal tax credit of USD 7,500 on their buying, the ZEV program in California, Corporate Average Fuel Economy standards, and other states.

In the APAC region, China is dominating the industry, with a revenue share of approximately 90% in 2022, boosted by the high output of e-cars, braced by government help and reimbursement strategies.

As electrical vehicles are costlier in comparison to traditional ICE vehicles, the Chinese 

The battery accounts for a significant share of the total price of an electric vehicle. For BEVs to become cost-effective with conventional models, the cost of the battery packs should fall under $120/kWh by 2030. Automotive lithium-ion battery pack cost was previously reduced significantly during the 2010–2016 period, to $227/kWh.

Hence, mainly because of global warming, the sales of the electric car will increase in the future as well.

Read More

Europe Is Highest Revenue Generator in Energy Harvesting System Market

In most cases, energy harvesting systems transform ambient energy into electrical energy, which is subsequently utilized to power a variety of devices, including consumer electronics, wireless sensor nodes, implanted biosensors, and military equipment.

The majority of their applications are in low-power electrical devices including watches, sensors, and home appliances. By 2030, it is predicted that the energy harvesting systems market would be worth $1,076 million, as per P&S Intelligence.

Additionally, in the years to come, North America will register the highest rise in the demand for these systems, followed by APAC. Industrial sector demand for low power-consumption parts and accessories is rising, innovative technologies are being developed, especially in emerging nations like India and China, and regional governments are spending a lot of money to promote adoption in both public and private settings.

The main causes of climate change are the rising GHG emissions, which are primarily made up of carbon dioxide, and the subsequent increase in carbon footprint. The patterns of plant growth are also being affected by changing rainfall patterns and increasing temperatures. The worldwide economic system will be seriously threatened by growing carbon footprints.

Further, minimizing energy waste is one of the simplest strategies to reduce carbon footprint. As they collect lost energy and transform it into electric current, such systems have a significant potential to reduce waste. 

Moreover, Consumers may employ tech-based products for financial gains, such as how electricity generated from renewable sources significantly reduces electricity costs and reduces an individual's carbon impact.

In 2022, the European market's biggest revenue was created by light technology. Italy, Germany, Spain, France, and the U.K. were the top solar energy-producing nations in Europe.

Furthermore, harvesters most frequently employ light to transform solar energy into electrical power. However, not all of the enormous quantity of energy from the spectrum of sunshine gets captured. Although the sun emits about 50% of its energy in the infrared spectral region, solar cells can only capture visible light. As a result, solar plates only generate power from about 20% of solar energy.

Big data and the internet of things (IoT) technological advancements are driving up demand for autonomously operated, low-maintenance wireless sensor devices. These methods may be used to meet the need for such gadgets. Businesses from a wide range of sectors are getting more and more involved in gathering and studying all types of real-time client data.

Energy harvesting is progressing well, thanks to the concepts of IoT and big data. In order to reduce or eliminate the need for batteries or other external power sources, it is often thought of as the extraction of operational power from the environment.

With USD 191 million in sales, building & home automation led the world in 2022. This application's market is predicted to expand at the fastest rate in the future. This is brought on by the quickening pace of sensor-based technology adoption and installation, as well as the rise in demand for effective systems, supported by expanding residential and commercial markets.

Read More

North America Leading AI in Agriculture Market

 The size of the AI in agriculture market was USD 1,254.6 million in 2022, and it will advance at a CAGR of 26.7% in the years to come, to reach USD 8,308.5 million by 2030, as per a market research company P&S Intelligence.

The service category will experience the faster growth because of the increasing requirement for managed services by farmers for tracking the processes and activities of sensors and managing large data sets associated with crop health.

AI in Agriculture Industry Revenue Estimation and Demand Forecast to 2030

The product category dominates the industry because of the surging necessity for software to control and guide the devices fitted in an agronomical environment for performing numerous advanced cultivation practices.

The machine learning category has the largest share, of about 60%. This is because of the growing acceptance of this technology by organizations and farmers for enhancing crop productivity with a combination of agronomical sciences and data technologies. It will hold the same position in the years to come, because of its rising usage in agricultural applications, including crop and field management.

Furthermore, ML has been extensively deployed in Europe and North America because of its high acceptance in agricultural robots and precision farming.

Moreover, precision farming had the largest share, of around 35%, in 2022. This is because of the growing requirement for an optimal yield with limited resources and reduced cost of crop production. Similarly, the rapidly increasing use of IoT in the agriculture sector is driving the precision farming industry.

North America leads the AI in agriculture market, and it will hold the position in the near future, with a value of about USD 4 billion. This is attributed to the high acceptance of innovative technologies in the farming industry for maximum productivity. Moreover, the players are offering services to regional consumers, in partnerships with other players.

Advanced technologies, such as IoT and ML, in combination with computer vision, is being used for numerous agronomic applications, including precision farming, livestock management, greenhouse management, and soil management.

APAC will have the fastest growth in the years to come. This has a lot to do with the increasing acceptance of smart farming techniques, including agronomic robots, drone analytics, and precision farming. In APAC, China is the major contributor because of the quick acceptance of advanced techniques in its enormous agricultural sector.

The increasing usage of robots in agriculture is a main trend. With the growing implementation of modern technology in agriculture, farming practices are increasingly becoming sophisticated. Additionally, with the increasing global population, lack of obtainability of farm workers, and automation in the agriculture sector, there is an increase in the usage of agricultural robots all over the world.

 It is because of the increasing penetration of IoT in farming sector that the demand for AI solutions in agriculture will increase all over the world.

Read More

Ambulatory EHRs Advantages Outnumbering Disadvantages

The technology of ambulatory EHR is getting popular with every passing day in the healthcare industry. Majority of the hospitals are making use of these EHRs for improving the quality of care and supporting the performance of their staff, as it is associated with risk assessment and patient care. This also helps the patients in staying compliant with CMS regulatory programs.

How Ambulatory EHR Helps in Improving Patient Care?

They are digital patient chart systems allowing doctors to document patient care in the same. These systems are based on the longitudinal patient care, such as chronic care management. They comprise of the data from hospitals. Ambulatory EHR systems emphasize on diagnosing, delivering speciality referrals, writing prescriptions, and recording interactions with the patients.

How are Ambulatory EHR Systems Implemented?

These systems make it much faster and easier for the people for processing a patient for medical appointment or an emergency care. Since the files are more adaptable, nearly any medical staff can assess the apt medical records.

With the ease of using and the portability level will share the systems with pharmacies, labs, imaging centers, medical facilities and healthcare providers. So, it helps the people to save a lot of time and money, while streamlining the whole procedure of EHR sharing, even as it is related to medical billing and patient care.

What are Advantages of EHRs?

• Patient care and consequences significantly advance with the emphasis on patient safety with the help of clinical decision support.

• Documentation is complete and clear with the results of medical imaging and test outcomes.

• Automation decreases variation and errors.

• Supposedly, the costs associated with treatment of a patient lowered by lessening duplicate activities.

Almost everything in this world has a flip side as well, where there are a lot of advantages of EHRs, there are a few disadvantages as well.

• Computer systems are quite complex and expensive.

• Complexity of the systems and  the learning curve of caregivers will lower clinical productivity, particularly at the beginning of implementation.

• Privacy of the patients is continuously a substantial concern.

Career Prospects for EHR Professionals

With the EHR systems becoming popular in the healthcare industry, there are numerous possibilities for the people in this field. With the expansion of this field, there are various jobs for professionals.

Clinical and caregiver careers, such as patient-care specialists, nurses, physician assistants and doctors. Non-clinical resource requirements would comprise billing and collections, data and quality management, admissions, and more. Lastly, there is a requirement for IT professionals, with skills in system applications and procedures, data and analytics, and business procedures.

With ever-changing healthcare sector and numerous benefits associated with the same, the demand will reach a value of USD 9,642.9 million by 2030.

Read More

North America Dominated the 3D Printing Materials Industry

The 3D printing materials market was USD 2,578.8 million in 2022, and it will reach USD 16,230.8 million by 2030, advancing at a rate of 25.9% in the years to come.

Plastics holds the largest share in terms of volume, over 30%. This is because of the low prices, easy availability of plastics and their use in numerous designs.

To learn more about this report: https://bit.ly/3weQL4D

Additionally, plastic materials offer high adaptability, extreme temperatures, resistance to abrasion, shock, physical distortion, and chemicals; excellent flexibility, sturdiness, and high elasticity, which further increases their consumption.

The filament form dominated the industry in the recent past. This has a lot to do with the use of filaments in toys, numerous household objects, educational models, and cars. Some of the frequently used filaments are PP, nylon, TPU, PLA, ABS, and PVA.

Because of the high strength, low cost, and wide variety of applications, the requirement for 3D printing filaments will keep on increasing in the years to come.

North America dominated the 3D printing materials market, around 45%, in the recent past. This has lot to do with the growth and wide acceptance of the use of this technology in product manufacturing and mass customization . The governments of numerous countries are encouraging the usage of 3D printing.

Furthermore, Europe followed North America in the recent past, with about 35%. The  progress of the industry in this region is powered by the existence of notable aircraft manufacturing companies, for example EuroJet Turbo GmbH, Airbus SE, ArianeGroup, and European Satellite Navigation sectors. As 3D printing materials offer users a simple supply chain, lessen risk, and are lightweight, their acceptance has increased in the aerospace sector.

It is because of the increasing use of 3D printing in the manufacturing sector, the demand for 3D printing filaments will increase at the rate of knots in the future.

Read More

North America Is Dominating the AI in Education Market

The global AI in education market was valued at USD 2,126 million in 2022, and this number is expected to reach USD 25,772 million by 2030, advancing at a CAGR of 36.6% during 2022–2030, as per P&S Intelligence. This growth can be credited to the snowballing expenditure in AI technology, the increasing need for personalized education based on AI, and the growing requirement for automating organizational tasks.

The whole scenario has changed after the pandemic, and numerous educational institutes throughout the globe have accepted numerous technologies, including virtual reality, chatbots, assign coursework, and learning management systems, for the betterment of their educational processes. Furthermore, numerous service providers are inventing many services for AI in academics. 

AI in Education Industry Revenue Estimation & Growth Forecast to 2030

In 2022, the solution category held a higher revenue share, of 77.4%, and it is projected to continue its dominance in the coming years as well. This is mainly credited to the surging need for AI academic services to allow educationalists to automate organizational tasks and discover more possibilities for improving the efficiency of classroom education. 

Moreover, numerous major players are concentrating more on the improvement of education systems step by step. Additionally, the increasing number of mobile phone users, growing government initiatives, improving internet connectivity, and surging acceptance of digital payment is contributing to the market growth in this category.

In 2022, the cloud category held a larger share of AI in the education market and is also projected to remain in the leading spot in the coming years. This is ascribed to the increasing utilization of cloud platforms to aid in IT modernization and the growing concentration on decreasing the total price of ownership. Moreover, cloud technology allows students to develop their knowledge and aids in managing business processes, which results in improved student engagement and better performance.

In 2022, North America generated the highest revenue, of USD 887 million, and it is projected to remain the market leader in the future as well. This is because the region has an advanced educational system, a high emphasis on lowering the burden on educators concerning administrative tasks, huge expenditure on EdTech, a growing necessity for personalized learning in teaching space, and a hike in demand for intelligent solutions to advance students’ academic performance in the continent.

The growing need for automating organizational tasks is another major reason driving the acceptance of AI learning solutions in the education sector. Teachers usually devote a lot of time to performing administrative tasks, including enrolling students, grading exams, assessing homework, and defining policies. AI can be very helpful in this regard, by reducing workload and stress on educators by automating administrative events, which, indeed, motivates them to pay more attention to the learning part for students.

Hence, the snowballing expenditure in AI technology, the increasing need for personalized education based on AI, and the growing requirement for automating organizational tasks are major factors driving the AI in education market growth. 

Read More

Asia-Pacific Dominated the Global Agricultural Micronutrients Industry

The size of the agricultural micronutrients market was USD 4,321.9 million in 2022, and it will grow at a CAGR of 8.5% during 2022–2030, to reach USD 8,322.1 million by 2030, as per a report of a market research firm P&S Intelligence.

To learn more about this report: https://bit.ly/3iPnvhQ

Cereals and grains dominated the industry regarding value, contributing a share in excess of 50%. With growing population and shrinking arable land, there is much more pressure on the maximization of crop yield, chiefly, cereals and grains production from existing farmlands.

There is a necessity to improve productivity, but it is hindered because of micronutrient deficiencies in plants and correspondingly, bio-magnification in food chain. These factors have a major role to play in improving the growth of the plants and edaphic qualities of soil, and are thus, will steer the demand in the years to come.

Also, the growing demand for cereals and grains, which has a lot to do with the growing population and diversifying nutritional requirements of people, will propel the acceptance rates for micronutrients therefore boost the growth in the years to come.

Application through soil had a significant share of around 50%, regarding volume in the recent past. The agricultural micronutrients market will also grow the fastest in the future. The method of application through soil is favored because of the low requirement of advanced machinery, ease of application, and easy assimilation into fertilizers.

APAC had over 50% share in the industry, in the past with respect to value. The growth has a lot to do with the increased application in China and India. Initiatives by agrochemical manufacturers and governments of these countries will create consciousness and supplement product acceptance amongst the local farmers. 

In coherence to same, different departments of the Indian government have launched a number of policies, including subsidies on fortified seeds, commencement of SHCs, and regularization of contract farming. Ultimately, these factors will be responsible for an increase in the demand.

It is because of the deteriorating quality of the soil in agricultural fields and increasing knowledge of the public about the advantages of micronutrients, the demand for agricultural micronutrients will increase leaps and bounds in the near future at the global level.

Read More

Medical Device Outsourcing Market To Generate USD 273.0 Billion by 2030

Outsourcing the manufacture of medical equipment is known as medical device outsourcing. Medical device firms can outsource routine production and gain from cost savings, a simplified supply chain, and logistical alignment. These advantages enable them to bring commercial goods to market while guaranteeing that all requirements set out by the industry are satisfied.

The medical device's component that is outsourced to service providers and contract manufacturers includes a variety of services, including device assembly, design consultation, manufacturing process design, shipping packaging, process improvement identification, recurring processing, package testing validation, and sterilization validation.

According to a report by P&S Intelligence, the medical device outsourcing market is expected to reach USD 273.0 billion by 2030. This may be ascribed to the ongoing developments, increase in R&D spending in the healthcare industry, rise in need for medical devices, increased pricing rivalry, the need to cut costs, and an increase in the number of CMO/CDMOs throughout the world.

Globally, there is a growing need for outsourcing finished goods. This can be attributed to the surge in demand for inexpensive medical items and the mounting financial strain on the industry. Additionally, the healthcare industry's rapid technological development, high level of innovation, and significant player investment are propelling market expansion.

In 2022, the category of class II accounted for the biggest revenue share, of over 70%, and it will continue to hold that position going forward. This can be due to the rise in surgical operations performed throughout the world.

Category with Highest Sales Is Cardiology

The market's greatest share belongs to the cardiology category. This is due to an increase in surgical operations as well as an increase in cardiovascular illnesses, such as atrial fibrillation, myocardial infarction, angina pectoris, hypertensive heart disease, rheumatic heart disease, and congenital heart disease.

In the years to come, plastic surgery is predicted to grow at the quickest rate. This can be attributed to the rise in minimally invasive aesthetic procedures and the expanding outsourced product selection.

Read More

APAC Is Leading the LED Lighting Market

The global LED lighting market was valued at USD 68,954.7 million in 2022, and this number is expected to reach USD 152,842.0 million by 2030, advancing at a CAGR of 10.5% during 2022–2030, as per P&S Intelligence.

The increasing need for energy-effective solutions along with the development in infrastructure, the snowballing government initiatives regarding the acceptance of LED lights, and the mounting sales of horticulture lighting are major reasons driving the sales of such lights.

LED Lighting Industry Revenue Estimation Forecast to 2030

 

The declining cost of lights is an additional key reason for the market growth. The reduced cost has led to their advanced usage for numerous applications, such as industrial, residential, and commercial lighting. Because of the enhancements in technologies, the cost of production is significantly reduced while the effectiveness and lifespan of LED lights have enhanced remarkably in the past few years. Because of this, there has been a notable drop in the cost of lights. 

 

In 2022, the luminaire category held the highest revenue in the market of above USD 40 billion. This is credited to the extensive demand for luminaires, mainly from newly built commercial and residential buildings. Additionally, with increasing government initiatives regarding their adoption, the manufacturing of such luminaires is estimated to surge in the future. These lights are installed on tunnels, high bays, troffers, tracks, streets, and others.

 

The retrofit installation category is projected to experience higher growth, advancing at a rate of 10%, in the coming years. This can be ascribed to the increasing replacement of sodium-vapor lamps and incandescent bulbs with LEDs in several countries, including India, South Korea, China, South Korea, and the U.S. Furthermore, with the phasing out of incandescent bulbs in such countries, the demand for lamps for retrofit deployment is growing, which enhanced the sales in this category.

 

APAC is leading the LED lighting market, accounting for the largest revenue share, of approximately 50%, in 2022. This is credited to the snowballing demand for LEDs from the housing sector, principally in countries like India, South Korea, and China, due to increasing per capita income, the presence of a large number of businesses functioning in such countries, and the development in the construction of residential establishments.

 

Furthermore, because of the growing population, promising infrastructure growth activities in emerging economies, and increasing government initiatives with a concentration on energy effectiveness, the demand for industrial and commercial applications is rising, hence driving the manufacturing of LEDs in the region.

 

Hence, the increasing need for energy-effective solutions along with the development in infrastructure, the snowballing government initiatives regarding the acceptance of LED lights, and the mounting sales of horticulture lighting are major factors that will drive the LED lighting market in the future. 

Read More

Europe Continues To Be Largest Market for MVNOs

The MVNO market generated revenue of USD 75,109.1 million in 2022, which will grow at a rate of 7.3% in the future, to reach USD 131,657.1 million by 2030, as per a report by a market research company P&S Intelligence.

The prepaid category will have the higher growth in the future, of approximately 8%. This has a lot to do with people choosing prepaid plans as they offer freedom to be customized as per requirements, particularly those that utilize pay-as-you-use model.

Mobile Virtual Network Operator (MVNO) Market Research Report

The postpaid category had the larger revenue share in the past, and it will dominate the industry in the future too. This is due to the fact that consumers are not required to pay anything upfront with these plans, and they also get a monthly bill according to the use of services. Furthermore, their unlimited service provision and facility of rollover of unused data contribute to the growth of the industry.

The consumer category had the larger revenue share in the recent past, and it will maintain its position in the near future, because of the rising count of mobile network subscribers. The growing use of mobile devices pushes the use of data-intensive applications, including the internet and online videos. Consequently, heavy investments are being made to improve the network coverage and increase the access to MBB connections, which will help the growth of the industry.

The European MVNO market had the largest share, over 40%, in 2022, and it will maintain its dominance in the coming years. This has a lot to do with the increasing acceptance of advanced technologies, infra development, and the presence of numerous MVNOs and high ARPU. Additionally, the increasing acceptance of integrated services, including voice-over internet protocol, supports the expansion of the regional industry.

APAC will grow the fastest in the future, because of the collaborations amongst industry players and cellphone manufacturers. Moreover, China and India, are working steadily for the betterment of their IT and telecom infra, for the delivery of enhanced telecom solutions. The development of the market in APAC will be significantly influenced by India, South Korea, Malaysia, China, Japan, and Australia, with their developed cellular networks.

Triple-play services are bundle packs provided by MVNOs, and they include television, broadband internet access, and latency-sensitive telephone services. The idea of triple-play has been successful in North America. There is a possibility that soon, these services will be delivered all across the globe via the internet. Likewise, major software companies are developing software that enables MVNOs to offer triple-play services.

Hence, the continuous increase in the use of mobile devices all over the world will be responsible for the growth of the market in the near future.

Read More