How is Rising Need to Recruit Right People Aiding in HR Analytics Market Growth?

Human resource management (HR) is used as an umbrella term for describing the management of employees in an organization. The term ‘human resources’ was coined in the 1960s for the very first time. Human resource management aims at increasing the effectiveness of a business or an organization. The HR analytics market is predicted to advance at a 15.6% CAGR in the coming years, as reported in a P&S Intelligence study. 

Businesses can be small, medium, or large, and depending on the size, appropriate work force is required to carry out activities smoothly. For that, the need for workforce optimization is being felt as it helps in making operations more efficient. Workforce optimization does that by aligning skills and resources to a specific job, empower the HR manager to monitor an employee’s contribution and performance, record performance data in a structured form that helps in decision making, and track work progress and identify missed goals. 

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This helps in developing an understanding of an employee’s strengths and weaknesses. Therefore, by articulating a commendable workforce planning strategy, HR analytics software is helping organizations remain strong and flourish. HR analytics is helping industries, such as retail, banking, financial services, and insurance (BFSI), government, manufacturing, energy & utilities, entertainment, oil & gas, hospitality, automotive, logistics, information technology & telecom, education, and healthcare organize their workflow. 

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The BFSI sector faces a crisis in recruiting new talent and finding a replacement for people nearing the age of retirement or people who leave. Further, as the job profile in this sector is pretty rigid, the BFSI sector doesn’t come across as the ideal choice of workplace for many young professionals. The entire spectrum of work, such as creating, cultivating, and managing the employer–employee relationship comes under human resources.

Therefore, the HR analytics software is helping these organizations in creating a personalized employee experience in the same way as marketing departments work for providing personalized customer experience. Further, the software employs artificial intelligence (AI) and cloud computing to establish trends from the HR data and data from other sources, such as the social media. 

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Asia-Pacific Anti-Drone Market Demand - Research Report

Compared to 36 cases in 2016, 75 cases of illegal drone or unmanned aerial vehicle (UAV) use were reported in Japan in 2017, according to the National Police Agency. In recent years, there has been a sudden surge in the usage of UAVs for personal and commercial purposes, which often ends up creating security risks, either intentionally or unintentionally. This has prompted governments across the world to regulate such devices as well as adopt countermeasures, in case the UAV is hostile. Thus, with an increase in the usage of drones, the Asia-Pacific anti-drone market is predicted to grow to $2,105.0 million by 2025.

Among the various kinds of security risks created by unauthorized UAVs is that they often come in close contact with aircraft, which can lead to disasters. For instance, a Chinese national, on tour, led a UAV into the area manned by the Central Industrial Security Force (CISF), after breaching the security at the Taj Mahal, in October 2018. Such incidents are leading to the installation of counter-active systems to thwart any possible threat. For instance, China deployed its first anti-drone system at Guangzhou Baiyun International Airport in November 2017.

Commercial, military & defense, and government are the major end uses of such products. Among these, anti-UAVs were the most widely procured for military & defense purposes in 2017, as a result of the increasing defense budget of regional nations. Across APAC, drones are rapidly being used for illegal and terrorist activities, which has fueled the need for effective countermeasures. For instance, 26 people were arrested in China, in March 2018, on suspicions of illegally airlifting two 660-foot cables to Shenzhen from Hong Kong, on UAVs, in order to smuggle iPhones.

Lucrative opportunities for anti-drone system manufacturers are available in the developing countries in APAC, which are increasing procuring such countermeasures. Although the usage of such systems is quite low in nations such as India and Japan, their defense establishments are expected to up their spending on anti-UAVs significantly in the coming years, to mitigate the increasing security threats posed by drones to general public, industrial installations, and other important assets.

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To cater to the demand for such platforms, manufacturers are launching new variants with advanced technology. For instance, in May 2018, a Chinese company, named Poly Technologies Inc., unveiled its Silent Hunter system in Kazakhstan. The device can ambush and stop drones and other aerial objects, which fly at low altitudes at a low velocity. Similarly, in the February of that year, the DroneGun Tactical anti-UAV gun was launched by DroneShield Limited. In addition to a strike range of 1,000 meters, the gun also has the capability to disrupt the target’s global navigation satellite system (GNSS) and multiple-radio frequency (RF) bands.

The APAC anti-drone market has historically been the largest in China, as it has the highest defense budget in the world, after the U.S., which it uses to better arm its security forces. Additionally, numerous established defense and aerospace companies are headquartered in China, which is another reason for its dominance on the industry. In the coming years, the procurement for such platforms would increase at the highest pace in India, as the country is focusing on the modernization of its troops and offering its citizens and other assets an enhanced level of security.

Hence, as UAVs become more popular among criminals and terrorists, governments of APAC nations would also adopt effective measures to counter them.

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U.K. E-Cigarette Market Flourishing as People Shun Tobacco Smoke

Respiratory diseases are among the biggest killers across the world, with the World Health Organization reporting in 2017 that 3 million people die from chronic obstructive pulmonary disease (COPD) and 1.6 million succumb to lung cancer each year, while 1.4 million died of tuberculosis (TB) in 2015.

From $2.0 billion in 2018, the U.K. e-cigarette market is projected to grow to over $6.4 billion by 2024, at a 19.6% CAGR during 2019¬–2024 (forecast period). Vape mods, vaporizers, cig-a-likes, and T-vapors are the various times of electronic smoking devices.

One of the major causes of such health issues in cigarette smoking, and with the rising prevalence of such problems, the awareness of people on the harmful effects of smoking is also rising. Consumers are realizing that tobacco cigarettes have around 4,000 chemicals that lead to such deadly diseases.

Among these, vape mods are expected to grow significantly in demand during the forecast period, as they let users customize the flavors contained in the vial. The introduction of various flavors by e-cigarette manufacturers is already a key trend in the country. Users are getting drawn to mint, menthol, cola, chocolate, and bubble gum as well as fusion flavors.

Several vaping devices now come with a customization option, where consumers can mix their own do-it-yourself (DIY) juice (smoking liquid). People get a base liquid, along with flavoring additives, with the e-cigarette.

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This offers consumers an enhanced smoking experiencing, which is why an increasing number of users of tobacco-based devices are switching to electronic variants. To tap the demand and make the most of it, manufacturers are expanding their flavor portfolio to include exciting products.

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Self-Checkout Systems Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

The global self-checkout systems market is being driven by numerous factors, such as their ease of use and faster check-out speed as compared to manual handling and the fact that these solve the issue of labor shortage. In 2017, the market was valued at $2,522.1 million, and it is expected to grow at a CAGR of 10.7% during the forecast period (2018–2023). Self-checkout systems scan products, provide their details and take payments, thus leading to a complete transaction at a retail store.

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 They serve as a substitute for a cashier and offer several services. A self-checkout system is an integrated software, hardware, and services package. The system helps the consumers take charge of the whole process, from choosing the products and generating the bill to depositing the amount for the purchase without direct involvement of a human employee at the counter. Retail stores are benefiting from self-checkout systems as these enable store owners to cut their labor costs by automating the work of clerks and cashiers.

One of the factors driving the self-checkoutsystems market is the smooth user experience that these systems offer in terms of being less time-consuming by helping people avoid long queues at the billing counter and keeping human interaction to the minimum. Such systems offer a well-rounded experience in terms of services that consumers expect from store attendants. This results in a faster shopping experience, as customers can simply generate the final bill themselves without having to wait in lines.

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The self-checkout systems market is segmented on the basis of offering, mounting type, model type, retail store, vertical, and geography. In the mounting type segment, the market has standalone, and wall-mounted and countertop systems as its categories. Standalone systems were the larger revenue accumulator, accounting for $1,519.0 million in 2017. The wall-mounted and countertop systems category is expected to prosper at a higher CAGR of 12.7% during the forecast period. Their popularity can be attributed to their less space-occupying feature, which makes them a suitable choice for small store owners.

Based on offering, the self-checkout systems market is divided into software, hardware, and services, among which the hardware category dominated the market in 2017 with more than 38.0% sales volume share. This was because a number of manufacturers and suppliers exist in the market, who sell different components for such systems. Further, with technology advancements, the hardware needs to be upgraded regularly unlike software and services. Further, different types of machines are needed for different goods, which was another reason for the dominance of hardware on the market.

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Regenerative Medicine Market by Therapy, Type, Application and Future Scope

Regenerative medicine is a comparatively new area of science that involves the restoration of damaged cells, tissues or organs by applying cell therapy, tissue engineering, immunotherapy or gene therapy techniques. On contrary to the present clinical therapeutics that act on slowing the disease progression or relieve symptoms, regenerative medication has a promising therapeutic approach of restoring the function and structure of damaged organs and tissues. The global regenerative medicine market is expected to witness significant growth during the forecast period.

The rise in number of regulatory approvals of regenerative medications is expected to further drive the regenerative medicine market during the forecast period. Moreover, there has been strategic partnership between many companies that has encouraged increased involvement of these companies in the global market. Improvised drug delivery systems for regenerative medicines is also expected to contribute to the growth of the global market.

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Technological innovations in the area of stem cell therapy and tissue engineering has led to rapid growth of the regenerative medicine market size. The key factors which drive the growth of the global market include increase in the demand of orthopaedic surgeries, government healthcare reforms in certain countries such as the U.S. and Canada, aging population, rise in chronic diseases, increasing prevalence of bone and joint diseases, and innovations in nanotechnology that aids in drug delivery mechanism.

However, stringent regulations, ethical issues, and the risk of product failure and their recall are the key barriers for the growth of the regenerative medicine market. The cost of regenerative medicine treatment is significantly high and it is less effective in case of geriatric patients, which hinders the growth of the global market to some extent.

Globally, North America is the largest market for regenerative medicine followed by Europe. The largest regenerative medicine market size of North America is attributed to the high rate of incidence of cardiac disorders, autoimmune diseases, and increasing prevalence of cancer patients among the American population. Additionally, the involvement of government organization for funding in the area of R&D of regenerative medicines, technological advancement and other policies are driving the growth of the North American market.

Some of the other key players operating in the global market include Acelity L.P. Inc., NuVasive Inc., Vericel Corporation, Osiris therapeutics Inc., Integra Lifesciences Corporation, Stryker Corporation, Cook Biotech Incorporated, Organogenesis Inc., and Japan Tissue Engineering Co. Ltd.

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How is Growing Need for Increasing Customer Reach Driving Machine Translation Market Forward?

With rapid globalization, businesses are now able to expand their reach to different regions, where different languages are used colloquially. Even though English is considered a global language, there’s still a majority of people across the globe who know only their regional language as a means of communication. This is motivating companies to localize content into different languages to increase their product reach among customers. 

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This is being used by enterprises as a first-pass translation tool, which is then followed by editing by humans to maintain the quality of the translated text. In the coming years, the machine translation market is predicted to advance at a 6.7% CAGR.  This technology finds application in various sectors, such as media & entertainment, retail & manufacturing, IT & telecom services, electronics, banking & finance, legal & law firms, travel & hospitality, automotive, healthcare & lifesciences, and military & defense. 

Content localization helps companies to target consumers in their own language and develop a local appeal by combining industry-specific aspects with the local culture. It helps in the development of effective marketing campaigns for the products, thereby, helping enterprises connect with the target consumers. Even though content localization is important, its implementation is a difficult task as it requires heavy investment, time, and trained workforce to maintain the quality of projects. 

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To counter these roadblocks, machine translation (MT) is extremely helpful, as it reduces the cost associated with translation and the time taken to market the product by hastening the localization process. It helps in the translation of huge volumes of content, which do not require precise translation but enough to be able to understand basic message. The translation of a given text from one language to another using a computer is termed as machine translation. 

During 2013–2016, the demand for MT was the highest from the military & defense sector. Presently, security forces are deployed in areas where numerous regional languages are spoken, and to effectively communicate with the local population, machine translation becomes a necessity for them. Therefore, armies are provided with a foreign language translation system to enable them to understand speech or text in different languages.

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Electrical Energy Price Volatility Driving Energy Management System Market

In 2017, the energy management system (EMS) market generated a revenue of $39,520.0 million and is projected to advance at a 19.3% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the stringent government regulations and government incentives, electrical energy price volatility, and growing adoption of EMS in building automation. An integrated system which is designed for enabling automated monitoring and control of the energy devices in a building, such as lighting, heating, and ventilation, is referred to as EMS.

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On the basis of component, the EMS market is divided into field equipment, communication systems, software, control systems, other hardware, and sensors. Out of these, the software category dominated the market during the historical period (2013–2017) and is predicted to retain its position during the forecast period. The category is further classified into enterprise carbon & energy management, utility EMS, residential EMS, industrial EMS, and others (including energy trading & risk management software and energy modeling software). 

The utility EMS classification accounted for the major share of the market during the historical period. When vertical is taken into consideration, the EMS market is categorized into manufacturing, telecom & IT, retail, healthcare, power & energy, office & commercial buildings, education, residential, and others (which include government, banking, financial services & insurance, and hospitality). 

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Among all these, the power & energy industry held the largest share of the market during the historical period and is further expected to dominate the market during the forecast period. This is due to the abundant generation of energy and sale of electricity for different applications, such as mining and manufacturing.

A primary driving factor of the EMS market is the growing adoption of EMS in building automation. Consumers are increasingly becoming concerned regarding the soaring energy cost and thus are adopting EMS solutions. EMS aids organizations in optimizing the performance of the building by gaining full control over the building energy consumption and its cost. In addition to this, the governments in different regions, such as Middle East and Africa and Asia-Pacific, are focusing on showcasing the benefits of EMS through social media in order to increase their adoption.

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