COVID-19 Impact Analysis on Beauty Devices Market. Insights on Strategies of Key Players

The soaring geriatric population in several countries is one of the biggest factors propelling the demand for beauty care products and devices across the globe. In the developing nations such as India and China, the geriatric population is expected to be much higher than that in the developed countries. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of people in China India, and Brazil having ages above 60 years are expected to rise to 437 million, 324 million, and 58 million respectively, by 2050.

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The rising awareness about beauty care products, devices, and therapies such as photorejuvenation devices and light/light emitting diode (LED) therapy for skin tightening and removing dark spots and pigmentation and increasing disposable income of the people are the other major factors fuelling the growing demand for beauty devices across the world. As per the U.S. Bureau of Labor Statistics, the total disposable income of the people in the U.S. grew from $10,036.9 billion to $13,968.6 billion from 2006 to 2016 and this number is predicted to rise to $21,178.2 billion by 2026.

The most major trends currently being witnessed in the beauty devices market are the rising utilization of electronic beauty devices and increasing development of technologically innovative products. Due to the frequent launch of technologically advanced beauty devices, dermatologists, clinicians, and aestheticians are able to better treat various skin problems and ailments such as improving skin textures, reducing the signs of ageing, and removing spots. For instance, Nu Skin Enterprises Inc. developed the ageLOC LumiSpa, which is a rechargeable and waterproof handheld personal skin care cleansing device, in January 2018.

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Globally, North America is anticipated to register the highest usage of beauty devices in the coming years. This is mainly ascribed to the greater spending capacity of people in this region on personal care and beauty devices owing to their high disposable income. Furthermore, the rising prevalence of skin diseases and the increasing awareness about skin care and skin problems amongst the people in this region are expected to significantly boost the usage of beauty devices in the region over the next few years.

Hence, it can be concluded that owing to the rising incidence of skin problems, increasing consumer awareness about skin ailments, and rapid development of advanced personal and beauty care products, the demand for beauty devices will surge in the coming years. 

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COVID-19 impact analysis on European Advanced Driver-Assistance Systems Market. Insights on strategies of key players

The need for enhanced security and safety features in vehicles is rising now more than ever, since the number of vehicles on roads has increased considerably all across the globe including Europe. Automobile manufacturers have been working tirelessly on integrating different safety features in vehicles which may improve the driving experience for people. One of the major technological advancements that have happened regarding the same is the development of advanced driver assistance systems (ADAS), which is basically a number of features and functions that a vehicle is equipped with in order to enhance the safety of both the driver and pedestrians.

These systems can aid in reducing the severity and the total number of motor vehicle accidents on roads. ADAS has the capability to warn drivers of potential dangers, intervene for helping the driver to remain in control for preventing an accident, and further reducing the severity of an accident if it cannot be prevented. At the present time, ADAS, having been undergone a number of technological enhancements, is integrated with various features for making the driving experience as smooth as possible. The technology is widely being integrated in vehicles to ensure that the number of accidents on roads is lessened.

Because of these factors, the European ADAS market is predicted to grow at a substantial pace in the years to come. ADAS can be integrated in passenger cars, medium and heavy commercial vehicles, and light commercial vehicles. A number of sensors are included in ADAS such as laser sensor, light detection and ranging sensor (LiDAR), ultrasonic sensor, image sensor, infrared sensor, and radar sensor. Among all these, radar sensors are expected to the most in demand in the near future. Along with this, LiDAR sensors are also projected to be in considerable demand in the coming years owing to innovations in the automotive industry and government regulations for vehicle safety.

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In 2019, the major reason for the rising integration of ADAS in vehicles was the stringent government regulations pertaining to the safety of vehicles in the European region. For example, in November 2019, it was mandated by EU that all motor vehicles, including commercial and passenger vehicles, are required to be equipped with DMS by mid-2022. Such initiatives are projected to result in the growth of the European ADAS market in the near future.

In conclusion, the requirement for ADAS in Europe is expected to grow in the coming years due to the rising concerns regarding safety of vehicles.

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How are Advancements in Technology Fuelling Surge in Global Automotive Sensors Market?

The surging implementation of stringent laws and regulations regarding emission standards and vehicle safety requirements, in several countries across the world, is one of the major factors responsible for the massive growth in the demand for automotive sensors. For instance, multiple European countries have enacted laws which make it mandatory for the vehicles operating there to have driving assistance features, such as advanced emergency braking, tire pressure monitoring, intelligent speed assistance, lane keeping assist, reversing camera or detection system, and attention and drowsiness detection.

The rapid development of advanced sensors, owing to the rising investments in the field, is another major factor fuelling the demand for automotive sensors. Since the last few years, many major automotive companies have been shifting their focus toward the development of advanced sensors. As a result, the global automotive sensors market revenue is expected to increase from $25,723.8 million in 2019 to $58,215.3 million in 2030. The market is further predicted to progress at a CAGR of 7.4% during the forecast period (2020–2030).

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There are various types of sensors installed in vehicles, namely position sensors, pressure sensors, temperature sensors, motion sensors, oxygen sensors, torque sensors, optical sensors, gas sensors, and level sensors. Out of these, position sensors recorded the highest demand in the past, mainly due to their wide-scale use in numerous vehicle parts, such as clutch, brakes, transmission, chassis, and engine, in order to compute the steering wheel position, motor rotor position, pedal position, throttle position, and the positions of valves, knobs, and actuators.

The automotive sensors market is currently witnessing swift technological innovations in the sensors and the automotive industry in general. For instance, these ongoing advancements have resulted in the development of different driver assistance system (ADAS) sensors, such as light detection and ranging (LiDAR), radar, and ultrasonic sensors. In addition to this, the incorporation of sensor fusion in automobiles has witnessed a rising popularity in recent years. For instance, the combination of LiDAR, ultrasonic, radar, and other sensors enhances various ADAS functions, such as obstacle avoidance and cross-traffic assistance, where individual sensors face limitations.

Globally, the highest integration of automotive sensors was witnessed in the Asia-Pacific (APAC) region during the historical period (2015–2019). APAC is also projected to register the fastest growth in demand for these devices during the forecast period. Within APAC, China is the major consumer of such instruments, as it is the largest automobile producer here as well as the world, producing almost half the vehicles around the globe. Additionally, owing to extreme air pollution levels, the transportation system of regional countries is being rapidly electrified, and to achieve it, a lot of sensors have to be integrated in automobiles.

Hence, it is clear that due to the rapid development of advanced automotive technologies, soaring demand for high-end vehicles equipped with modern features, and presence of strict vehicle safety laws in many countries, the demand for automotive sensors is expected to shoot up in the coming years.

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Business impacts of COVID-19 on Urban Air Mobility Market. Strategies of major industry competitors

The traffic on roads is increasing at a rapid pace day-by-day. These days, people are able to afford vehicles easily and the number of public transport vehicles has also risen considerably in the past few years on account of the growing population. Road congestion is a major problem in urban and highly populated cities, and results in wastage of time and also impacts economic growth. Take for instance the situation in the U.S., where people spend about 90 hours in traffic jams each year, on an average. This increases the transportation expenditure of people by more than $1,000. The situation is same, if not much worse, in countries such as China and India.

As per a report by P&S Intelligence, the global urban air mobility market is predicted to reach $895 million by 2023, and it is expected to generated a revenue of $6,889.4 million by 2030, advancing at a 33.9% CAGR during the forecast period (2023–2030). Among passenger and cargo aircraft type, the larger demand in 2023 is projected to be registered for passenger flights. Air taxi, air ambulance, and airport shuttle come under UAM passenger flights. These services are expected to be available for both intercity and intracity commuting. At the present time, aircrafts are being developed for intracity travel due to the strict regulations and limitations in battery technology.

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This being said, the demand for intercity travel is also predicted to rise considerably in the near future, since with technological advancements in battery, motors, and in the fuselage, the range of electric vertical take-off and landing (eVTOL) aircraft will increase as well, thereby allowing people to travel easily from one city to another. Piloted and autonomous are two aircrafts types which are going to be used for UAM. Between these two, the utilization of autonomous aircrafts is projected to be higher in 2030, as they are being considered to be the better suited option for passenger and cargo services.

In the coming years, North America is expected to emerge as the largest urban air mobility market in throughout the time period 2023–2030. This is due to the fact that major cities in the U.S. are registering high traffic congestion, which, in turn, would result in the rapid adoption of airport shuttle and taxi services. Apart from this, the demand for UAM services is also predicted to rise considerably in Europe in the coming years, which is ascribed to the heavy investments in the domain by France and Germany for procuring the eVTOL technology for commercial applications.

In conclusion, the surging road congestion is driving the demand for UAM services. 

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What are Key Factors Fuelling Surge of Global Automotive Human-Machine Interface Market?

The increasing demand for higher safety features and enhanced user experience in vehicles is one of the major factors pushing the adoption of automotive human–machine interface (HMI) across the world. Since the last few years, there has been a surge in the popularity of various advanced driver assistance systems (ADAS), such as automatic brakes and alert systems, which apprise drivers about the permissible speed limit, traffic situation, and traffic signals, which have, in turn, increased the demand for automative HMI. These HMI systems enhance the interaction between drivers and ADAS systems, thereby leading to better safety of the vehicle and passengers.

Due to the above-mentioned factors, the global automotive human–machine interface (HMI) market is expected to grow from $13.9 billion in 2017 to $29.6 billion by 2023, exhibiting a CAGR of 13.8% during the forecast period (2018–2023). The various types of automotive HMI systems available in the market are steering-mounted controls, touch screen displays, rear-seat entertainment (RSE) consoles, heads-up displays (HUD), instrument clusters, and multi-function switches. Amongst these, HUDs are expected to witness the fastest rise in procurement, owing to the increasing uptake of premium cars.

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The automotive HMI market is presently witnessing rapid technological developments, aimed at improving the consumer convenience level. Some of the improvements that have been made in these systems are the development of highly adaptable and dynamic displays and enhanced dashboard layout flexibilities. The soaring government incentives and other measures and increasing adoption of these systems are bolstering the scope for further advancements in them, with each passing year.

Geographically, the highest adoption of automotive HMI systems was observed in the Asia-Pacific (APAC) region in the past few years. This is primarily attributed to the higher sales of passenger cars in this region than anywhere else, on account of the surging purchasing power of the people. Owing to the burgeoning sales of premium and luxury cars and soaring customer preference for vehicles equipped with HMI features in the U.S., North America is expected to witness the fastest growth in the demand for automotive HMI systems during the forecast period.

Therefore, it is clear that due to the increasing adoption of ADAS in vehicles, soaring government initiatives, and growing need for enhanced safety systems in vehicles, the demand for automotive HMI systems will grow considerably in the coming years.

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Business impacts of COVID-19 on Electric Car Market. Strategies of Major Industry Competitors

Since the Industrial Revolution, the levels of carbon dioxide (CO2), which is the primary greenhouse gas (GHG), have increased threefold, as per the National Geographic Society. This has been a result of the increasing rate of the burning of oil, coal, and other fossil fuels in power plants, vehicle engines, factories, and homes. As per the U.S. Environmental Protection Agency (EPA), the transportation sector is responsible for around 14% of the total GHG emissions around the globe. With alarm bells ringing, steps are being taken to reduce the emission of these harmful substances from automobiles.

As a result of the increasing consciousness and government initiatives, the electric car market is on path to reaching a sale of 5.3 million units in 2025, from merely 0.8 million units in 2016, with this number growing at a healthy 33.6% CAGR between 2017 and 2025. Around the world, countries are launching policies to not only make fossil-fuel-driven automobiles cleaner, but also ultimately replace them with electric vehicles (EV). For instance, apart from the already effective Euro VI emissions norms, certain European countries are targeting a 100% transition to EVs; the Netherlands aims to achieve this by 2030 and the U.K. by 2040.

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As per the International Energy Agency (IEA), after rising constantly for two years, CO2 emissions stabilized at around 33 gigatonnes (Gt) in 2019. This was primarily a result of the decrease in the emission of CO2 from the burning of coal in power stations, by around 200 million tonnes (Mt) during 2018–2019. So, while the efforts of the power sector have started being fruitful, the transportation domain has a long way to go. This is why not only European and North American countries, but even Asian nations, especially China, Japan, and India, are framing policies for a switch to 100% clean mobility.

Apart from the concerns for the environment, another reason for the rising sale of electric cars is the decline in the price of the battery, especially lithium-ion (Li-ion) variants. As the battery is the most crucial component of an EV, it decides the purchase price of the entire automobile. As the energy storage devices were quite expensive in the past, they made the EVs costly, which led to their low uptake. But, during 2010–2017, the battery prices dropped by almost 77%, to $227/ kilowatt-hour (kWh), and they are further expected to slump to $110/kWh in the next five years, thus making EVs affordable.

Presently, Asia-Pacific (APAC) is the most lucrative electric car market, on account of the high air pollution levels in regional countries, especially China, Japan, and India. This is why the governments here are offering numerous financial benefits to the customers as well as manufacturers of EVs. For instance, Government of India has invested $1,460 million (INR 10,000 crore) to support the purchase of 1,500,000 electric vehicles by March 2022, under its ambitious Fast Adoption and Manufacturing of (Hybrid &) Electric Vehicles scheme Phase II.

Thus, with governments strongly encouraging the adoption of clean automobiles for the sake of the environment as well as humans, the demand for electric cars will witness a massive rise in the years to come.

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How is Growing Adoption of Electric Buses Driving Electric Bus Charging Station Market?

Achieving sustainable living is a major concern at the present time across the globe. The utilization of alternative sources for generating energy instead of fossil fuels is one of the primary ways by which sustainability can be achieved. Because of this, electric vehicles are gaining traction around the world as more and more people are becoming aware regarding the degradation of the environment. While electric scooters and cars have been around since a while now, the concept of electric buses is fairly new. The adoption of electric buses in public transport fleet started in China, however, now several other countries are increasingly introducing electric buses for public transport.

At the present time, about 400,000 electric buses are in operation across the globe. This number is further projected to increase in the coming years, which will result in the growing need for electric bus charging stations worldwide. According to a P&S Intelligence report, in 2018, the global electric bus charging station market reached a value of $6.6 billion and is projected to generate revenue of $12.3 billion by 2025, advancing at a 9.7% CAGR during the forecast period (2019–2025). Two types of chargers for electric buses are on-board and off-board.

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Recently, the requirement for ultra-fast charging stations has risen rapidly in order to decrease down the weight of the bus and reduce the charging time. These charging systems allow the power to be fed from the supply to the load in a cordless technique, which can further be charged flexibly in both static and dynamic ways. In addition to this, ultra-fast charging systems improve the performance of electric vehicles significantly as compared to the traditional plug-in chargers, which is why a number of companies around the world are focusing on the development of this type of electric charging for decreasing the effective bus charging time.

As mentioned above, China being the largest user of electric buses, Asia-Pacific is the largest electric bus charging station market and not North America. China accounts for about 99% of the total electric buses which are sold across the globe. This is creating a surging need for related infrastructure including bus charging stations in the country. In addition, the government in China has taken the initiative for installing 500,000 new public charging station 2015–2020 in order to further increase the adoption of electric buses.

Hence, the demand for electric bus charging stations is growing because of the rising adoption of electric buses.

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How is Adoption of Electronic Health Records (EHR) Driving Big Data Analytics in Healthcare Market?

The rise in the demand for financial analytics is one of the major factors causing the surge in the need for big data analytics in the healthcare sector across the globe. Financial analytics offers healthcare companies greater visibility into the various factors responsible for revenue generation and thus helps them in reducing their operational costs. In addition to this, big data analytics makes use of sophisticated software technologies, such as specialized billing process and knowledge, in order to monitor and keep track of the claims processed and revenue generated from different operations.

Due to the above-mentioned factors, the big data analyticsin healthcare market size attained value of $7.0 billion in 2017, and it is predicted to garner revenue of $22.7 billion by 2023, demonstrating a CAGR of 21.8% during the forecast period (2018–2023). There are two ways by which big data analytics solutions are deployed by healthcare companies — on-demand and on-premises. Of these, the solutions deployed on-premises recorded higher use in 2017, owing to their ability to provide enhanced data security and greater control over the software and hardware.

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Geographically, the North America healthcare sector registered the highest use of big data analytics in 2017. This is primarily ascribed to the rising penetration of internet of things (IoT) and artificial intelligence (AI) in the healthcare sector, which is itself booming in the region. The big data analytics in healthcare market is expected to observe the most rapid advance in the Asia-Pacific (APAC) region in the near future, mainly due to the soaring investments in healthcare information technology (IT) infrastructure and increasing need for better healthcare solutions in several countries in the region.

The other major factor fuelling the adoption of big data analytics is the rising usage of electronic health records (EHRs) by both private and public healthcare centers, primarily on account of various government initiatives and incentives. The governments of several countries have set up regulatory organizations, including the National ehealth Authority in India, dedicated to developing rules and standards for EHR and ensuring uniformity in them. Furthermore, EHR is enabling healthcare organizations to predict unexpected patient readmissions and inpatient mortality, improve patient care, and reduce duplicate tests.

Therefore, owing to the rapid developments in technology and its increasing integration in the healthcare sector, the demand for big data analytics solutions in healthcare is expected to grow to a considerable extent in the coming years.

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COVID-19 Impact Analysis on Europe Cleanroom Technology Market. Insights on Strategies of Key Players

The rising incidence of infectious diseases is one of the key factors resulting in the increasing demand for the cleanroom technology in Europe. As per the European Centre for Disease Prevention and Control (ECDC), human immunodeficiency virus (HIV) infection is one of the most prevalent diseases in the region, with almost 30,000 new cases recorded every year. It was reported that approximately 29,444 people were suffering from HIV in 31 countries of the European Union (EU) in 2016. The other most common diseases prevalent in the region are hepatitis B, respiratory tract infections, and tuberculosis, which is raising the demand for drugs and medical devices.

Due to the above-mentioned factors, the revenue generated from the sale of cleanroom consumables and equipment in Europe is predicted to increase from $1,126.6 million in 2017 to $1,701.8 million by 2023. The Europe cleanroom technology market is additionally expected to advance at a CAGR of 7.2% during the forecast period (2018–2023). Between consumables and equipment, consumables are expected to register faster growth in requirement during the forecast period, owing to their rising adoption, in order to maintain a contamination-free environment in hospitals, research laboratories, and pharmaceutical, medical devices, and biotechnology industries.

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In Europe, pharmaceutical production is increasing at a rapid rate, mainly due to the rising demand for drugs, on account of the increasing prevalence of chronic diseases and surging geriatric population. As per the EFPIA, the region reported pharmaceutical production worth $337,825 million in 2016. Apart from pharmaceutical, cleanrooms are required in the medical devices and biotechnology industries. Out of these, the pharmaceutical industry recorded the highest usage of cleanroom consumables and devices in 2017, primarily due to the rising number of pharmaceutical companies in Europe, which are mandated to have cleanrooms.

Germany recorded the highest adoption of the cleanroom technology in Europe in the past, and this trend is expected to continue during the forecast period. This is mainly attributed to the increasing number of cleanroom technology providing companies and ballooning incorporation of cleanroom products in the biotechnology and pharmaceutical companies in the country. France is predicted to register the fastest growth in the adoption of the cleanroom technology in the continent in years to come, owing to the presence of numerous companies offering and using these solutions. As a result, the European cleanroom technology market will grow rapidly in France.

Hence, it is clear that owing to the burgeoning demand for a pollutant- and contaminant-free environment in the pharmaceutical, biotechnology, and medical devices industries and increasing awareness regarding hygiene and sterilization, the demand for cleanrooms will rise in Europe in future.

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