Rising Cyber Threats Propel Saudi Arabia’s Cybersecurity Market to New Heights by 2030

The Saudi Arabian cybersecurity market will generate an estimated revenue of USD 672.4 million in 2024, which is expected to witness a CAGR of 14.0% during 2024–2030, to reach USD 1,477.2 million by 2030. Some of the primary factors that are expected to enhance the growth of this market include further digitalization, government policies, and the use of Vision 2030.

Saudi Arabia’s Vision 2030 is intended to introduce a variety of changes and diversifications that will help the country to decrease the dependence on the oil and gas sector by investing in infrastructure, e-commerce, healthcare, and innovative technologies. 

This is due to the fact that these industries are practically vulnerable to cyber attacks and traditional ways of protection are inadequate in recognizing new wave cyber threats. AI and machine learning, IoT and security, Information Security, and quantum computing are some of the new technologies in cybersecurity. 

Machine learning and artificial intelligence are the two most preferred technologies among them due to their ability to offer deep data analysis in conjunction with comprehensive real-time threat detection. This results into branding of the cyberspace and consequently detection of the lurking cyber threats in an early and accurate manner.

On- line privacy and security are a high priority for Saudi Arabian citizens as well as information that is considered confidential for the country. The following are the government laws and regulations they include but not limited to PDPL, Anti-Cyber Crime Law, SAMA CSF and NDMA.

Key Insights 

 Software is the largest category, holding a share of 55% in 2024.

 Advanced Metering Infrastructure (AMI) is the largest subcategory within software.

 AMI includes communication networks, data management systems, and smart meters.

 Enables bi-directional energy flow and integrates Distributed Energy Resources (DERs).

 Used for measuring and optimizing renewable energy transmission.

 Hardware category is significantly growing.

 Smart meters are rapidly growing within hardware.

 Provide insights about power consumption to consumers and utilities.

 Distribution is the largest category, holding a share of 45% in 2024.

 Fastest-growing category, advancing at a CAGR of 18.7% during 2024–2030.

 Power plants generate high voltages; low-voltage distribution lines reduce losses.

 Power distribution networks include feeders, substations, and transformers.

 Smart grid network brings intelligence to the distribution process.

 Wireless category is the faster-growing category.

 Advancing at a CAGR of 18.8% during 2024–2030.

 Most-advanced technology for communication at substations.

 Enables safe, dependable, low-latency bi-directional transfer infrastructure.

 Cost-effective, secure transmission of data, higher bandwidth.

 Al-Riyadh is the fastest-growing province.

 Advancing at a CAGR of 18.9% during 2024–2030.

 Rapid construction of commercial and residential buildings driving smart meter deployment.

 Al-Jouf province is the largest in terms of smart grid network usage.

 Presence of a huge solar power plant driving extensive use of smart grid networks.

 ENOWA, an energy utility company headquartered in Saudi Arabia, announced a high-voltage smart grid for NEOM in December 2023.

 CHINT showcased advanced microgrid solutions for large industrial parks at the Saudi Arabia Smart Grid Conference (SASG 2023) in December 2023.

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Electronic Warfare Industry to Double by 2030 Amid Rising Global Defense Investments

According to the latest market research study published by P&S Intelligence, the size of the worldwide electronic warfare industry was projected to have stood at USD 12.5 billion in 2024, and it is estimated to attain USD 25.3 billion by the end of the decade, advancing at a CAGR of 12.4% over the forecast period. This can be credited to the expansion of defense abilities by many nations across the globe to counter potential threats.

The electromagnetic spectrum and cyberspace create a common electromagnetic environment known as the cyber-electromagnetic domain. This evolution in technology is a major trend as this domain is expected to be the centerpiece of future wars.

Diplomatic and strategic relations between different countries can break down any time, turning friends into foes. For this reason, almost all countries are expanding their military capabilities and adopting electronic warfare. Countries that share borders are at a perpetual threat from one another, regardless of how cordial the relations between them are. Thus, they are strengthening their weaponry with advanced systems.

Key Insights

 The airborne category is the largest, with an estimated 40% share in 2024, and is expected to grow at a CAGR of 12.8% from 2024 to 2030.

 Airborne electronic attack capabilities are crucial for gaining an advantage in the electromagnetic spectrum, including disabling, denying, and degrading enemy air defenses.

 Electronic decoys deployed in combat aircraft and missiles aid in deceiving enemy air defense systems.

 The electronic support category holds the largest share, 45% in 2024, and will witness the highest CAGR of 12.7% during the forecast period.

 Information from electronic support is essential for decision-making in attacking and protecting, detecting enemy communication networks and radars.

 Data gathered is used for electronic intelligence (ELINT), signal intelligence (SIGINT), and communications intelligence (COMINT).

 Signal jammers dominate the market with a 20% share in 2024 and are expected to be the fastest-growing category at a CAGR of 13.2% from 2024 to 2030.

 Jammers deceive, disrupt, or block enemy radars and communication systems by radiating interfering signals, allowing counter operations without detection.

 North America held the largest market share, around 50% in 2024, due to strong defense focus and high defense budget of the U.S. (USD 877 billion in 2022).

 U.S. invests heavily in equipping its military branches with advanced weapons and electronic warfare systems.

 Most major defense and weapons companies have a significant presence in the region.

 Asia-Pacific is the fastest-growing market, with a CAGR of 12.7% during 2024–2030.

 Several countries in the region are expanding their military capabilities with electronic warfare systems, given the geopolitical landscape characterized by sour relations.

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Collaborations and Technological Advancements Propel Optical Satellite Imaging Market Growth

According to the latest market research study published by P&S Intelligence, the optical satellite imaging market was valued at USD 1,402.9 million in 2023, which will increase to USD 5,733.8 million, advancing at a 24.3% compound annual growth rate, by 2030.

The increasing need for high-resolution imagery is a key factor for the industry expansion. The need for high-resolution imagery is rising across the globe for earth observation, defense, and commercial applications. 

Governments and organizations rely on optical satellite imagery to track environmental changes, manage urban development, and coordinate disaster relief processes.

The ISRO recently declared initiatives to launch 50 satellites for geo-intelligence, which shows the significance of optical satellite imagery in national security & development plans.

The ESA and the European Commission's Copernicus program offer widespread earth observation data for environmental and security purposes, portraying the importance of satellite imagery in managing and addressing local and global challenges.

collaborations and partnerships are major trends being observed in this industry. Several key companies are entering into partnerships and collaborations to enhance their abilities and positions in the industry. 

In April 2023, Ball Corporation teamed up with Loft Federal and Microsoft under the Space Development Agency’s NExT contract. 

This initiative entails developing an experimental testbed consisting of 10 satellites set for launch in 2024, demonstrating collaboration across diverse sectors to propel satellite technology forward.

Key Insights

• North America accounted for the largest share of the industry in 2023, of approximately 60%. This is because of robust government and defense funding, a solid culture of innovation, and the grouping of technological leadership.

• The continent has reputable aerospace and satellite firms, together with some startups, which are enhancing satellite imaging abilities.

• The government is funding in space exploration and defense to improve satellite technology and attain greater imagery analysis.

• APAC will continue to advance at the fastest compound annual growth rate, of 28.1%, during this decade. 

• The key factor behind this includes the increasing count of commercial applications, progressing technology, a robust focus on disaster management and environmental monitoring, and government initiatives.

• The visible spectrum led the industry in 2023, with more than 70% share, and it is also advancing at the fastest CAGR. This is because of the greater resolution of the visible spectrum compared to the NIR spectrum.

• The commercial sector was the largest contributor in 2023, with approximately 80% share, and it is also growing at the fastest CAGR. This can be because satellite imagery is dynamic and has various usages. 

• This category significantly profits from the improvements in satellite imaging technologies that meet different requirements like real estate, agriculture, environmental monitoring, and insurance.

• High resolution accounted for the leading share of the industry in 2023, of more than 65%. The category is also propelling at the fastest compound annual growth rate. 

• This can be because comprehensive imagery with a better resolution is important for applications that require high precision like environmental monitoring, security, urban planning, and precision agriculture.

• The optical satellite imaging industry is consolidated and dominated by key companies. 

• Large investments, new product launches, partnerships, and mergers & acquisitions, are being employed by the major companies to improve their presence. 

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Broadcasting Revolution: Playout Automation and Channel-in-a-Box Market Set for Explosive Growth by 2030

In 2023, the playout automation and channel-in-a-box industry attained revenue of USD 2,887.3 million, which is projected to advance at a rate of 16.0% over the projection period, to touch USD 8,106.4 million by 2030. The rising need for quality content between viewers proposes the development of this branch of business. Thus, the e-learning industry and also online education is rising in demand.

With the growth of the demand for quality audio and videos, companies more and more are focusing on the graphics and videos they use. This trend is reflected in gaming, e-learning, entertainment, and multimedia areas.

As many users are seeking for better quality content, this branch is expanding. Besides that, e-learning and online education are also rising in demand.

The wayward desire to watch the most modern streaming video content flings the likes of Netflix, Amazon Prime and Disney+ into upgrading their audio and video quality never before like that. By these means, the providers are supported with a basket of solutions addressing the increasing demands but still providing the best quality.

Automated playout systems facilitate content transmission correctly and perform the distribution and transmission processes continually to match the continually higher demand for video content. Playout automation and channel-in-a-box solutions can increase the transmission area that covers national and international broadcasting networks, thus easing content transmittance everywhere around the world.

 

The current digital shift, together with the rising need for content from sectors such as media, entertainment, education, and gaming, fosters the growth of broadcasting activities.

 

Key Insights

 

·  The multiple-channel category is expected to witness the highest CAGR, of 16.5%, during the forecast period.

·  During the projection period, the multiple-channel category is projected to advance at a CAGR of 16.5%.

·  The growing need for entertainment and news worldwide is propelling the acceptance of multiple-channel platforms.

·  Such platforms provide varied content to entice audiences with different interests.

·  Numerous channels enable broadcasting content throughout different regions, increasing the audience reach.

·  Partnerships with well-known international broadcasters improve credibility and worldwide existence, propelling industry development.

·  Sports is estimated to have a CAGR of 16.8% in the projection period, making it the fastest-rising category.

·  The growing popularity of sports worldwide, propelled by populace development, financial prosperity, and technical improvements, contributes to this development.

·   Automation in sports broadcasting advances the viewing experience and decreases error rates.

·   The cloud category is projected to advance quickly because of its shortage of physical infrastructure requirements.

·  Cloud-based solutions provide simple access through online servers, removing the requirement for on-site hardware.

·   High scalability in cloud platforms lets establishments adjust resources based on demand, easing quick responses without substantial changes in hardware or software.

·  In the coming years, the education and corporate category will witness the highest CAGR of 16.6%.

·  Playout automation and channel-in-a-box solutions are enhancing information quality for students, teachers, and corporate employees.

·   In 2023, the North American region dominated the playout automation and channel-in-a-box industry, propelled by rising broadcasting businesses and digital platform integration.

·  Major propellers include technical improvements, competitive pressures, demand expansion, shifting customer preferences, and supportive economic conditions.

· Asia-Pacific (APAC) is expected to be the fastest-growing market, with a CAGR of 16.6% from 2024 to 2030.

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Generative Artificial Intelligence - Global Industry Analysis and Future Scope

In 2023, the generative AI market reached a value of USD 12 billion and is projected to reach USD 81.1 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 31.6% during the forecast period from 2024 to 2030. This growth of the market can be credited to the potential to transform the whole market by offering new opportunities for innovation and automation.

Generative AI is a set of algorithms that can produce realistic content by utilizing training data, like images, text, and audio. For example, ChatGPT is trained on huge sizes of text for summary extraction, sentimental monitoring, and answering questions.

The primary focus of generative adversarial networks (GANs) is to create novel information that appears recognizable when one sees the actual data sets. Rather than purely focusing on the expansion of basic AI systems, these new methods emphasize deep learning to produce data samples.

These models are multi-modal in nature, in other words, they are able to handle multiple processes simultaneously. With the help of these models, the level of human-machine communication has increased so much, especially with the help of natural language processing (NLP).

One of the key reasons that is aiding this gen-AI industry advance is the presence of large language models, due to their excellent capability to make, manipulate, and understand natural language.

In 2023, the Software category had the highest revenue share, of approximately 55%, in the industry. Software is the basis of this industry and offers the algorithms, frameworks, and tools that are essential for generative AI applications.

The natural language processing category is dominating the market, and the category is also projected to advance at a substantial CAGR, of 31.8%, during the projection period. The growths in NLP are allowing the making of complex language models and text. Numerous applications, like chatbots, content generation, and artificial intelligence, are being completely changed with the aid of these improvements.

On the basis of end users, the media and entertainment category is dominating the industry, and the category is also projected to advance with a CAGR, of 40%, in the projection period. The quick integration of AI tools by the media and entertainment industry is driving improvements in content creation and distribution.

In 2023, North America grips the largest share of the industry, at approximately 50%. This is because of the growing rates of banking scams, increasing healthcare load, and rising popularity of pseudo-imagination. Its enhanced tech framework and growth, along with its capability to harbor disruptive AI establishments, is one of the key factors for its development in the industry.

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The Soaring Trajectory of Global Push-to-Talk (PTT) Market, Anticipated to Reach USD 73.0 Billion by 2030

In 2023, the global push-to-talk (PTT) market achieved revenue of USD 36.4 billion. It is anticipated to grow at a CAGR of 10.5% between 2024 and 2030, reaching USD 73.0 billion by 2030. This can be credited to the rising application of this tech in an extensive variety of consumer devices, like tablets and smartphones, which has significantly contributed to its acceptance among numerous users. These apps function well across different devices and operating systems, making communication simple.

One reason for the high manufacturing of ultra-enduring smartphones is that there is a rising demand for strong and solid mobile devices with high performance. The built-in push-to-talk feature of these devices turns them into indispensable tools for professionals as well as people involved in adverse environments thanks to their functionalities.

Technology improvement smartphones would be with further advancement, providing not only more features but also a solution to a wide range of users worldwide. On top of that, manufacturers are rolling out novelties together with the updates of existing products in the whole rugged smartphone category, especially for the guys who choose to go into the wild and those having specific tasks to perform.

For example, in July of 2023, KYOCERA International Inc. launched its DuraForce PRO 3, an Android smartphone designed for enterprises, small businesses, first responders, and various industrial uses. It is equipped with a robust set of tools for business users.

The growing requirement for wireless push-to-talk devices through several sectors, like emergency response, aerospace & defense, and corporations, is a substantial propeller for industry development.

Wireless devices advance total security and productivity by providing end-to-end encryption. Moreover, the increasing need for networking devices has opened up opportunities for their software counterparts among smartphone operators to connect groups and members.

In 2023, on the basis of network, the land mobile radio category had the larger industry share, of 80%, the category is also projected to dominate the market in the future as well. This is mainly because land mobile radio provides robust hardware, made to bear varied environmental conditions, and armed with the capability to work efficiently on dedicated radio frequencies.

This guarantees strong coverage and a dependable delivery of serious messages. While newer techs, such as cellular PTT have arisen, land mobile radio PTT stays important for critical communications in applications where dependability and resilience are dominant.

During the projection period, the APAC will experience the highest CAGR, of 14%. The major reasons contributing to this development are the rising count of partnerships between top companies and distributors and the improvement in the information tech infrastructure.

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Transdermal Drug Delivery Systems Market is Led by the North American Region

The total value of the transdermal drug delivery systems market was USD 4.2 billion in 2023, and it will power at a compound annual growth rate of 4.7% by the end of this decade, to touch USD 5.8 billion in 2030.

The sector is mostly driven by the rising incidence of chronic illnesses, and for the same, a conservative drug delivery system is weaker than required due to hepatic first-pass metabolism.  What is meant by this is that, when utmost oral drugs enter the liver, they are mostly digested before reaching the targeted tissue, therefore bringing about insufficient efficacy.

More than one billion people at a global level smoke cigarette, with incidence continuing to be high in spite of surveillance, educational, and supply restriction efforts on the international and national levels.

This factor is driving the requirement for transdermal nicotine patches for ages.  If the reports are to be believed, as opposed to a placebo administered for a year, nicotine patches are 50–60% more successful in helping individuals give up cigarettes.

North American transdermal drug delivery systems market is the leader. The expansion in this continent is chiefly driven by patent expirations, letting more businesses to enter the industry with generic alternatives of these devices.

Also, the relaunch of previously failed drugs for subcutaneous delivery and the vast spending by the stalwarts on related research and development are key reasons for the substantial share seized by this region.

Due to the growing incidence of chronic illnesses all over the world, the demand for transdermal drug delivery systems is on the rise. This trend will continue in the years to come as well. 

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Auto Injectors Industry was Led by the North American Region

According to the latest market research study published by P&S Intelligence, the auto injectors market made a total revenue of USD 1,011 million in 2023, and it will propel at a rate of 14.8% in the years to come, to touch a value of USD 2640.2 million in 2030.

The key factors powering the industry expansion include the mounting requirement for the drug administration ease, growing incidence of chronic and lifestyle associated diseases, and evolving healthcare technologies.

According to the WHO, over 16 billion injections are given on a yearly basis at a global level. So, the rising need for ease and safety throughout the procedure is powering the advance of the industry.

North America is the leader of auto injectors market, and this prominent position will persist in the years to come as well. This is for the reason that the continent provides ready reimbursement for the use of autoinjectors. Furthermore, the growing occurrence of anaphylactic shock will encourage the acceptance of auto-injectors filled with epinephrine. Moreover, the two nations in the region exhibit a high awareness with regards to self-administration drug delivery devices.

The fastest growth is observed by the APAC region, chiefly as a result of the growing occurrence of diabetes. Since diabetics need normal insulin administration, auto-injectors save the trouble of seeing a medic every time and, therefore, make them independent. 

Moreover, the mounting occurrence of severe reactions as a result of food allergies is driving the requirement for epinephrine injections.

Due to the increasing occurrence of lifestyle and chronic diseases all over the world, the demand for auto injectors is on the rise. This trend wil continue in the near future as well.

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Rising Acceptance of AR/VR Products Boosts Volumetric Video Industry

The volumetric video market was USD 2,377.4 million in 2023, which will touch USD 13,939.6 million, growing at a 28.8% compound annual growth rate, by 2030. 

The growth of this industry is because of the increasing rate of technological advancement, mounting use of AR/VR products, and rising expenses on the development of sports technologies.

Moreover, the arrival of 5G brings the advantages of low latency with high bandwidth and speed, allowing the incorporated provision of such video content. With this, the rising uses of this technology in holograms, gaming, brand experiences, training, and metaverse assist the industry expansion.

In 2023, North America was the largest contributor to the industry, with a 55% share, and it is likely to remain the largest in the years to come. This is because of the high pace of acceptance of developed technologies like VR, MR, and AR; the growing requirement for attractive signage and advertisements, and the existence of many companies.

APAC is likely to advance at the highest compound annual growth rate in the years to come. This is because of the large customer base for all sectors, the increasing standard of living of people with disposable salaries, quick urbanization, the growing need for enhanced sports-watching experiences, and the surging volume of specific image-guided surgical measures.

With the increase in the acceptance of AR or VR, the volumetric video industry will continue to progress in the years to come.

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North America was the Leader of the Multiplex Assays Market

The multiplex assays market produced USD 3,918 million revenue in 2023, and it will power at a rate of 9% by the end of this decade, touching USD 7,103.5 million by 2030.

To learn more about this report: https://bit.ly/4aNVHAn

The main factor powering the industry is the growing incidence of chronic ailments and infectious diseases. Also, the growing requirement for effective analytical platforms in research and medical diagnostics, to decrease the costs for researchers, healthcare providers, and patients, is a robust contributor.

On the basis of product, the consumables category led the industry with a share, of 45%, in 2023. It was because of the increase in the count of diagnostic tests and surge in research actions by life sciences companies.

For example, in January 2023, Novo Nordisk, a pharma company, publicized a USD 6-million grant for Durham Technical Community College, for supporting the later’s life sciences program and set up a novel training center with area of 35,000 square feet.

The protein-based category led the multiplex assays market, with a 50%, share in 2023, due to the growing applications of these kinds of products in proteomics studies. Furthermore, protein-based assays are extensively used in research to recognize the protein concentration, electrophoresis, cell biology and other analytes.

The flow cytometry category led the industry in 2023, because of the numerous applications of this tech in the discovery and measurement of proteins and RNA and in the assessment of cell health.

For instance, Life Sciences Core Facilities, the Flow Cytometry Unit, Weizmann Institute of Science’s is making the use of imaging flow analyzers that combine the high-amount quantification of flow cytometry with microscopy and aid in the study of post-translational alterations and protein, protein interactions in different contexts.

North America led the industry with a share of 55%, in 2023, and it will power at a considerable rate, as a result of the increase in the research and development activities by biotech and pharma companies for the expansion of new drugs and diagnostic solutions. 

For example, in Jan 2023, PharmaEssentia Corporation publicized plans for a new PIRC in Greater Boston, Massachusetts. Likewise, in October 2022, Lineage Cell Therapeutics Inc. publicized the opening of a novel research and development facility in California and the development of its GMP-compliant capability in Israel. Lineage’s novel facility in California will extend its R&D competences in the U.S. and support the expansion of present and future allogeneic cell transplant programs.

It is because of the growing prevalence of chronic and infectious diseases all over the world, the demand for multiplex assays is on the rise. This trend will also continue in the years to come as well.

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ELISpot and FluoroSpot Assay Market is Powered by the Rising Elderly Population

The ELISpot and FluoroSpot assay market made USD 289.5 million revenue in 2023, and it will power at a compound annual growth rate of 7.9% by the end of this decade, to touch a total value of USD 490.8 million by 2030.

To learn more about this report: https://bit.ly/47ili1C

Some factors which are powering the industry are the increasing occurrence of chronic and communicable ailments at the global level, particularly HIV, and the growing elderly populace. ELISpot and FluoroSpot are diagnosis assays made for numerous diseases, for example infectious disease, cancer, and, autoimmune ailments.

Assay kits will have the largest share in the years to come as a result of the increasing incidence of infectious and chronic diseases, accompanied by the progression in assay kits. The ELISpot assay is also put to use for checking the efficiency of vaccines on immune mediators, for example, interferons, pro-inflammatory mediators, and interleukins.

North America leads the industry with a share, of 55%, in 2023. As per the U.S. Census Bureau, about 56 million adults aged 65 or more are in the U.S. and will be around 16.9% of the national populace. 

Further, there will be over 73 million older adults by the end of 2030, meaning over 1 in 5 people will be older. The total count of adults aged 65 and more will increase to 85.7 million by 2050 and account for around 22% of the overall populace of the nation.

It is because of the growing elderly population all over the world, the demand for ELISpot and FluoroSpot assays is on the rise. This trend will continue to grow in the years to come as well.

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Growth of Elderly People is Responsible for the Self-Monitoring Blood Glucose Devices Market Expansion

The self-monitoring blood glucose devices market made USD 25.3 billion in 2023, and it will advance at a rate of 9.7% by the end of this decade to touch USD 48.2 billion by 2030.

The industry growth has a lot to do with the growing occurrence of diabetes, increasing populace of elderly people, tech progressions, booming consciousness of diabetes care, increasing count of obese people, and favorable health insurance and repayment scenario.

Self-sugar-measuring gadgets are used in the monitoring of type 1 and 2 diabetes, and a few other ailments. Amongst all applications, type 2 diabetes had the largest share, of more than 50%, in 2023.

Type 2 diabetes is a common lifestyle ailment that can cause key health problems, chiefly in the blood vessels of the eyes, kidneys, and the nerves. Some of the key problems of the ailment are diabetic retinopathy and diabetic nephropathy.

Tech progressions in SMBG gadgets is a key trend in the self-monitoring blood glucose devices market, as the use of new-age devices decreases the time taken to test sugar levels as opposed to the traditional approaches used in labs. Furthermore, most of these devices are moveable and suitable to carry.

The unparalleled aging rate observed in the worldwide populace is a key contributor to the diabetes occurrence, and elderly people represent one of the fastest-growing segments of the diabetic populace. In emerging nations, the increase in the occurrence of chronic non-infectious illnesses, such as diabetes, cancer, and heart ailment, hints at alterations in the lifestyles and diets, along with aging.

Nearly 80% of the world’s older people will be living in emerging regions by 2050. Also, the number of people aged 60 years or more in emerging regions will surge to 1.7 billion by 2050.

It is because of the increasing prevalence of diabetes all over the world, the requirement for self-monitoring blood glucose devices is on the rise3. This will continue in the years to come as well.

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Surging Aging Population Boosts Medical Exoskeleton Industry

The medical exoskeleton market was USD 485.8 million in 2023, which will increase to USD 6,336.8 million, powering at a 44.8% CAGR, by 2030.

This growth is because of the surging number of individuals with physical disabilities, the rising number of orthopedic surgeries, and the mounting elderly populace. For example, as per the WHO, 1 in 6 individuals globally, or around 1.3 billion individuals, experience substantial disability.

Furthermore, the mounting number of serious injuries, strokes, and road accidents is assisting the industry expansion. Around 1.3 million individuals die every year due to road traffic accidents, according to the WHO. Therefore, the rising acceptance of medical exoskeletons to heal injuries is further boosting this expansion.

In 2023, the hardware category, based on component, led the industry, with a 60% share, and it will propel at a 45.0% CAGR, during this decade. This can be because exoskeletons are produced with different pieces of hardware like sensors, actuators, control systems, and powered systems.

The powered category is the larger type, primarily owing to the new developments in them. For example, with investment from the National Institutes of Health, Stanford University has created an exoskeleton that rapidly adapts to users’ motions while they walk naturally.

Moreover, the passive category is a significant contributor to the industry. Passive exoskeletons are mainly accepted in low-income and developing nations, particularly by those who can’t buy the powered ones.

North America led the industry in 2023, with a 55% share, and it will further advance at a significant rate, in the years to come. This will be because of the mounting aging populace, rising government support for exoskeletons, and the high occurrence of neurological illnesses.

APAC is the fastest-growing region. This can be primarily ascribed to the increasing funding in healthcare, the growing patient pool requiring mobility support and rehabilitation, and the latest product approvals.

With the surge in the elderly populace across the globe, the medical exoskeleton industry will continue to progress in the years to come.

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Wireless Technologies was the Leader of the Medical Device Connectivity Market

The medical device connectivity market was USD 2,531.7 million in 2023, which will touch USD 11,879.4 million by 2030, powering at a rate of 24.8% by the end of this decade. This has a lot to do with the growth in the telehealth and remote patient monitoring segments.

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

Likewise, the growing preference for home healthcare will present substantial potential predictions for companies in the medical device connection sector.

The solutions category held a larger revenue share, of 70%, in 2023. This is credited to the increasing adoption of HIE and EHR devices, the surging need for integrated healthcare systems, the expanding regulatory standards and healthcare reforms, and the migration of point-of-care diagnostics from hospitals to home care settings.

The wireless technologies category led the industry with19 a share of 45%, in 2023. This is for the reason that these technologies offer superior patient care, and health of the patient can be incessantly monitored by medics and caregivers, who can also get instantaneous updates, letting for faster treatment.

Moreover, these aid in shorter stay times in healthcare amenities and remote patient monitoring to guarantee safety and patient care.

North America led the industry with a share of 50%, in 2023. This is attributable to the rising incidence of chronic ailments, the surging acceptance of healthcare IT solutions, the expansion of pioneering technologies, the growing public consciousness of health problems, and the mounting healthcare spending in the region.

It is because of the growing prevalence for home healthcare all over the world, the demand for medical device connectivity is on the rise, This trend will continue in the years to come as well.

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Surgical Planning Software Market is Driven by Growing Occurrence of Car Accidents

The surgical planning software market was USD 117.8 million in 2023, which will touch USD 183.7 million, powering at a 6.6% compound annual growth rate, by 2030.

These tools assist doctors in producing precise digital information so that they can choose the suitable surgery. This assists in offering correct treatment to patients as well as saving cost and time in the complete procedure.

In this regard, a surging count of surgeries, a booming elderly populace, and various technological developments in healthcare IT, are the major factors assisting the growth of this industry.

Moreover, the growing incidence of car accidents as well as sports injuries in the old and young populaces is also likely to assist the progression of this industry.

North America was the largest contributor to the industry in 2023, with USD 0.06 billion. This can be mainly because of the rapid acceptance of novel, developed healthcare technologies in this region. 

Furthermore, enormous funds are given by different government organizations for medical R&D, particularly in important areas like oncology, neurology, and cardiology.

APAC will advance at the fastest rate during this decade, of 7.0%, because of the mounting elderly populace and constant progression in surgical technologies.

With the rise in the prevalence of car accidents, the surgical planning software industry will continue to progress in the coming years.

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Propelled by Growing Awareness regarding Importance Of Immunization, Vaccine Adjuvants Industry To Reach $1,375.9 Million by 2030

The value of the vaccine adjuvants market stood at USD 877.5 million in 2023, and this number is projected to reach USD 1,375.9 million by 2030, advancing at a CAGR of 6.7% during 2023–2030. This development of the market can be credited to the increasing occurrence of infectious diseases and the intensifying usage of vaccine adjuvants, as a result.

Government officials and biotechnology and pharmaceutical companies have understood the worth of communicable disease research in the rouse of the novel coronavirus epidemic. For instance, through the Health Resources and Services Administration, the U.S. Department of Health and Human Services (HHS) declared a new USD 350 million fund in November 2022 for HRSA-supported health centers, to raise COVID-19 vaccination rates in their societies, with a special focus on marginalized people.

There has been a substantial rise in study initiatives in healthcare, credited to the extreme growth in the load of numerous infectious and noncontagious illnesses. For instance, the rising cases of cancer because of poor lifestyles, mainly because of tobacco consumption, poor diet, and smoking, have led to strong research in order to make better and more effective solutions for its treatment, prevention, and diagnosis.

In 2023, on the basis of product segment, the particulate category dominated the industry share of 35%. The obtainability of an extensive range of items and their growing efficiency against the target illnesses can be ascribed to this dominating share. Adjuvants made of alum, cytokines, and virosomes are comprised in the category of particulates.

In 2023, according to regional analysis, North America accounted for 45% of the global market. The presence of the largest players, well-established health infrastructure, technological advancement, and good healthcare reimbursement policies in this region are considered to give rise to such dominance. The main factors contributing to this are the wide use of Innovative Technologies in healthcare, as well as the growing demand for higher quality health services.

Hence, the robust government backing for illness prevention and treatment R&D and the initiation of immunization programs boost the industry for vaccine adjuvants.

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North America Is Dominating Home-Use Beauty Devices Industry

The total value of the global home-use beauty devices market was USD 14,025.3 million in 2022, and it will rise at a growth rate of above 26.1% shortly, reaching USD 89,876.2 million by 2030, according to P&S Intelligence. This growth can be ascribed to the growing occurrence of skin-related issues, the rising occurrence of hormonal syndromes, and technological improvements in home-use beauty devices.

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In 2022, the Hair removal category had the largest share, approximately 25%. Shaving has been among the largely accepted method to remove unwanted body hair. However, with constant shaving, thick hair grows in a short time span.

To overcome such problems, progressive hair removal devices, like light-based and epilators home-use devices, are present. Furthermore, the high per-capita income, growing appearance awareness, and increasing occurrence of hormonal syndromes are boosting sales in this category.

In 2022, North America dominated the market with approximately 40% share. This growth can be credited to the deviations in the customer perception of attractiveness and health and the rising occurrence of age-associated skin illnesses in the continent. 

The 3 most widespread of such across all age groups are viral skin, dermatitis, and acne vulgaris diseases, and the ones among the aging are viral skin diseases, dermatitis, and fungal skin illnesses.

In 2022, hair removal devices had the highest share in the North American home-use beauty devices market. Utmost of the individuals in the continent trim; though, constant shaving can outcome in the development of thicker hair more rapidly. To evade these problems, epilators and a variety of light-based devices are obtainable for house use.

Hence, the growing occurrence of skin-related issues, rising occurrence of hormonal syndromes, and technological improvements in home-use beauty devices.

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How Will Hospitality Sector Strengthen Kuwait Facility Management Market?

The Kuwaiti facility management market is expected to grow at a CAGR of 8.5% between 2021 and 2030, owing to the booming hospitality sector and upcoming infrastructure projects in the country. According to P&S Intelligence, the industry was valued at $954.4 million in 2021, and it will generate $1,995.5 million revenue by 2030. In recent years, economic diversification has become a major trend in the market. To decrease its reliance on the energy sector, the government is focusing on increasing investments in the tourism, construction, and hospitality sectors to reduce its dependence on oil revenue.

One of the major growth drivers of the Kuwaiti facility management market is the flourishing hospitality sector, owing to the increasing footfall of tourists in the country. According to the WorldData, a total of 2 million tourists visited Kuwait in 2020. The government is encouraging private investments, constructing new attractions, increasing international promotion campaigns, and expanding airport capacity to boost the hospitality sector in the nation. The surging tourist footfall and soaring government support for the hospitality sector will result in the construction of hospitality units, which require facility management services to offer more comfort to customers.

The property category, within the service segment, accounted for the largest share in the Kuwaiti facility management industry in 2021. Whereas, the cleaning category is expected to register the fastest growth in the market throughout this decade. This will be due to the rising expectation for cleaning, germfree, and hygienic public spaces and workspaces, on account of the ongoing COVID-19 pandemic. To deal with the safety quotient of sanitation, enterprises and government organizations are using innovative scanners and sensors in facility management equipment.

With the presence of numerous players, the Kuwaiti facility management market is fragmented in nature, owing to which the competition has increased considerably. Nowadays, the market players are focusing on different strategic measures, such as contract wins and product launches, to gain a competitive edge. Some of the leading players in the market include Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E., R&E Petroleum Co., and Fawaz Trading & Engineering Services Co. W.L.L.

Thus, the expanding hospitalization sector will steer the demand for facility management services in Kuwait.

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How Is Healthcare Sector Supplementing Water-Based Adhesive Specialty Tapes Market Growth?

A number of factors such as the booming automotive sector, surging public awareness about the advantages of such tapes, burgeoning demand for medical products, and rapid technological advancements in the healthcare industry, are expected to drive the water-based adhesive specialty tapes market at a CAGR of 6.5% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $5,093.2 million in 2020 and it will generate $9,514.9 million revenue by 2030. 

The expanding automotive industry is driving the demand for water-based adhesive specialty tapes worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), 77,621,582 vehicles were manufactured and 77,971,234 vehicles were sold globally in 2020. In addition, rapid technological developments in the automobile sector and the introduction of new vehicles are also fueling the demand for water-based adhesive specialty tapes. The automotive industry uses water-based adhesive specialty tapes as double-sided tapes, foam tapes, and protection tapes because they are easy to fix and remove.

In recent years, the players in the water-based adhesive specialty tapes market have been engaging in product launches to stay ahead of their competitors. For example, in April 2018, Shurtape Technologies LLC launched Shurtape FM 200 flagging tapes to expand its safety and marking product portfolio. The new tapes are used for temporary applications, such as tagging, marking trails, color coding, indicating survey boundaries, and designating hazards. Other players like Nichiban Co. Ltd., Intertape Polymer Group Inc., Scapa Group plc, and 3M Company are also expanding their product portfolio to gain a competitive edge. 

Globally, the Asia-Pacific water-based adhesives specialty tapes market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period. This can be credited to the expanding healthcare, electrical and electronics, and automotive industries and surging disposable income of people in the region and the prospering economy of the regional countries. For example, the OICA states that China, India, Japan, and South Korea manufactured 25,225,242 units, 3,394,446 units, 8,067,557 units, and 3,506,774 units of vehicles, respectively, in 2020. 

Therefore, the prospering automotive industry and soaring demand for healthcare products are prominent growth drivers of the market.

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