Spintronics Market Outlook: Top Companies, Trends and Growth Factors Details for Industry Development

In 2019, the global spintronics market generated a revenue of $362.7 million and is projected to attain a value of $12,845.6 million by 2030, witnessing a 34.8% CAGR during the forecast period (2020–2030).

On the basis of end user, the healthcare division is predicted to register the fastest growth during the forecast period, which is attributed to the technological advancements in spintronic-based magnetic sensors. These sensors are projected to be used for detecting tumor cells in the human body.

In terms of device type, the metal-based category is held the larger share of the spintronics market in 2019, as metal-based spintronics, including giant magneto resistance (GMR) and tunnel magneto resistance (TMR), offer low energy consumption and high-speed data transfer.

The semiconductor-based category is projected register higher CAGR during the forecast period, as these spintronics consume less power and are more efficient. The sales of semiconductor-based spintronics is further predicted to increase in the coming years because of the rising adoption of internet of things and increasing deployment of 5G.

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Geographically, North America dominated the spintronics market in 2019, which was primarily ascribed to the rising requirement for spintronics due to the expanding cloud market in the region. 

Apart from this, the import of optical hardware, including spintronic-based transmitters and receivers, has risen because of their increasing requirement for supporting 5G network infrastructure in North America. 

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How Rising Concerns Regarding Food Safety Contributing in Microbial Identification Market Growth?

Numerous pathogenic microorganisms, such as parasites, viruses, or fungi cause infectious diseases that can spread from one person to another directly or indirectly.  Some common examples of these infections are tuberculosis, AIDS, malaria, measles, and hepatitis.

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The World Health Organization reported that in 2014, around 9 million people were affected with tuberculosis and 1.5 million died because of the disease across the globe. Similarly, in the same year, 114,900 people lost their lives to measles, and every year, more than 780,000 and 500,000 people die due to complications associated with Hepatitis B and Hepatitis C, respectively. Infectious diseases are one of the most common causes of global deaths and pose a huge burden on healthcare resources and result in high healthcare expenditure. Therefore, for the timely identification of the causative organism and proposal of a treatment plan, the need for microbial identification is becoming dire.

Microbial identification requires various products, such as consumables, services, and instruments & software. In the coming years, the highest demand is expected to be generated for consumables, which majorly include reagents and kits and plates and media. As microbial identification most commonly relies on phenotypic methods, such as observing changes in culture and media, consumables, such as pipettes, petri dishes, covers, tubes, centrifuge tubes media, vials, reagents, and slides, are most commonly used in laboratories for establishing the quality of the reagents being used for experiments. This is expected to contribute to the microbial identification market growth immensely, with a P&S Intelligence study predicting the CAGR to be 6.0% in the coming years.

In today’s times, concerns regarding food safety and quality is growing. Due to the unhealthy and polluted environment, an increased presence of toxins, pathogens, and chemicals is being observed in food products. As per the University of Rhode Island Department of Food Safety Education, around 33 million people suffer from foodborne illnesses each year in North America. In order to establish the safety of food products, one of the most reliable methods is using microbiological techniques for microbial identification. Many food safety regulatory authorities and agencies deploy these techniques as standard operating procedures, which makes microbial identification imperative.

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How is the Shift from Conventional to New Automobile Assembly Techniques Driving Hot Melt Adhesives Market?

At the present time, there is a surging need for making vehicles lightweight in order to increase their fuel efficiency. Because of this, there has been a shift in preference from traditional to new automotive assembly techniques. Conventionally, mechanical fasteners and welds, which provided increased strength and high performance, were utilized for bonding different parts of vehicles. However, now that the need for fuel-efficient vehicles had risen, manufacturers have started using lighter gauge metals, nonferrous metals, plastics, and coated steels for new vehicle designs. 

Attributed to this, the usage of holt melt adhesives for joining different automobile parts is rising.

Hot melt adhesives, also known as hot glue, are thermoplastic adhesives applied using a hot glue gun. As per a report by P&S Intelligence, in 2017, the global hot melt adhesives market generated a revenue of $7,353.1 million and is projected to attain a value of $10,259.7 million in 2023, witnessing a 5.7% CAGR during the forecast period (2018–2023). Among all the regions, namely Asia-Pacific (APAC), Europe, North America, and Rest of the World, Europe created the largest demand for hot melt adhesives during 2013–2017; however, during 2022–2023, the APAC region is expected to create the highest requirement for these adhesives. 

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The different product types of hot melt adhesives are styrenic block copolymer (SBC), polyamide (PA), metallocene polyolefins (MPO), ethylene vinyl acetate (EVA), polyurethane (PU), amorphous polyalphaolefins (APAO), and polyester. The EVA category was the largest in demand during 2013–2017 and is further predicted to retain its position during the forecast period. This is attributed to the different advantages of this product, such as long shelf life, quicker setting time, and suitability in a range of temperatures. In addition, the expansion of the construction and automobile industries is also creating increasing demand for EVA. The fastest growth in demand is projected to be witnessed by the PU category in the coming years. 

When application is taken into consideration, the hot melt adhesives market is divided into diapers, footwear, automobile, bookbinding, packaging products, furniture, textile, electronics, and others (which include filter and floristry industry). Out of these, the largest demand for hot melt adhesives was created for the packaging products application during 2013–2017 and situation is expected to remain the same in the near future as well. The fastest growth in demand is predicted to be registered by the furniture application in the coming years, owing to the growing need for fulfilling the demand of the rising population in countries including Germany, China, and India.  

The rapid expansion of the packaging industry, which is occurring due to swift industrialization, is a key factor driving the requirement for hot melt adhesives. The rising purchasing power of individuals and changing consumption trend have resulted in the development of varied and eco-friendly products. The developing countries, primarily, are extensively making use of hot melt adhesives in packaging and automotive industries. The growing spending power in countries including Indonesia, China, and India has led to an increase in demand for various products such as electronics, clothes, and footwear, all of which use hot melt adhesives in different applications.

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Emotion Analytics Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast

In 2018, the emotion analytics market generated $164.7 million and is projected to reach $1,419.2 million in 2024, advancing at a CAGR of 46.8% during the forecast period (2019–2024). The market is witnessing growth due to the surging demand in the automotive sector, rising adoption of business intelligence (BI) and data analytics, and increasing demand for emotion analytics in the retail sector. Emotion analytics software reviews non-verbal cues such as body language, gesture, and facial expressions and the tone of a person for providing richer insights into the human expression of emotion.

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On the basis of type, the emotion analytics market is categorized into video analytics, speech analytics, facial analytics, text analytics, and others (which include electrocardiogram, eye tracking, and electromyography). Among these, the facial analytics category dominated the market in 2018 and is further predicted to retain its position during the forecast period. This is because a large number of enterprises are utilizing face analytics for analyzing customers’ feelings regarding their services and products through facial expressions since facial expressions are strongly linked with emotions.

In terms of application, the emotion analytics market is divided into competitive intelligence, public safety & law enforcement, customer experience management, workforce management, sales & marketing management, and others (driver monitoring and market research). Among these, the largest share of the market was held by the customer experience management division in 2018. With the growing market competition, the expectations of the customers are changing, because of which the retailers are engaging in new initiatives and investments that are designed to cater to the needs of evolving customers.    

  

A key driving factor of the emotion analytics market is the increasing requirement for emotion analytics in the retail sector. Emotion analytics allows retailers to analyze the perception of customers for their products. This further helps the e-commerce retailers in understanding the emotions of the customers even if they are not present in front of them. The retailers can track the emotions of the customers while they look at different products and then accordingly design websites on the basis of preference of customers. As the e-commerce industry is growing rapidly, the demand for emotion analytics is also rising.

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Market Segmentation by Type

• Text Analytics
• Speech Analytics
• Facial Analytics
• Video Analytics
• Others (Electromyography, Eye Tracking, and Electrocardiogram)

Market Segmentation by Enterprise Size

• Large Enterprise
• Small and Medium Enterprise (SME)

Market Segmentation by Application

• Customer Experiences Management
• Sales and Marketing management
• Public Safety & Law Enforcement
• Workforce Management
• Competitive Intelligence
• Others (Market Research and Driver Monitoring)

Market Segmentation by Industry

• Banking, Financial Services, and Insurance (BFSI)
• Information Technology (IT) & Telecom
• Healthcare
• Media & Entertainment
• Automotive
• Government
• Retail
• Others (Hospitality, Manufacturing, and Gaming)

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Why Banking, Financial Services, and Insurance (BFSI) Sector is Key Fraud Detection and Prevention Market Driver?

Globally, North America held the largest share in the fraud detection and prevention market in 2018 and is projected to maintain its lead during the forecast period. The Asia-Pacific (APAC) region is expected to advance the most quickly during the forecast period, due to the rapid economic growth, establishment of large enterprises, and expanding IT domain in the region. 

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The leading regional market players offering such solutions are IBM Corporation, Experian plc, RELX Group, Oracle Corporation, and BAE Systems plc. On the basis of enterprise size, the fraud detection and prevention market is bifurcated into large enterprises and small and medium enterprises (SMEs).  Among the two, the large enterprises bifurcation held the larger market share in 2018, and it is also expected to dominate it in the forecast period. 

Large enterprises are quickly adopting such software to protect their massive business data and information from any misconduct. Additionally, they have higher budgets, which gives them more purchasing power. The need for protecting online financial platforms from fraudulent activities and inherent risks is mainly due to the rapid digitalization. Payment frauds are mostly unauthorized transactions processed by a cyber-criminal. 

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It is challenging to eliminate the threat in the e-commerce domain; however, updating the software and network security systems can help in this regard. The fraud detection and prevention market is burgeoning on account of the rising electronic payment rate across the globe. Thus, with the need to curb web-based payment frauds, this application category is expected to dominate the market during the forecast period.

Therefore, on account of the dire need to protect sensitive information from perpetrators, the market is predicted to witness considerable progress during the forecast period.

Market Segmentation by Type

• Internal
• External

Market Segmentation by Deployment Type

• On-Premises
• Cloud-Based

Market Segmentation by Platform

• Web-Based
• Mobile-Based

Market Segmentation by Enterprise Size

• Large Enterprises
• Small & Medium Enterprises (SMEs)

Market Segmentation by Application

• Identity Theft
• Payment Frauds
• Money Laundering
• Others (Banking Transactions and Fund Transfers)

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Electric Bike Finally Showing Potential to Scale

The major factors leading to the growth of the electric bike market are the increasing air pollution and respiratory disease prevalence, stringent government regulations and supportive policies, and worsening urban traffic congestion. Compared to $14.4 billion in 2019, the sale of such vehicles is expected to generate a revenue of $25.9 billion by 2025. It is also being expected that the market will witness a CAGR of 10.3% during 2020–2025 (forecast period). E-bikes have an electric motor, therefore are pollution-free.

Based on ownership type, the e-bike market has been bifurcated into shared and personal, of which the personal bifurcation held the larger volume share, of more than 95.0%, in 2019. This is because shared mobility on bicycles is offered by only a few service providers, whereas e-bikes for personal use are provided by numerous companies. The use of personal e-bicycles is especially high in Japan, China, Belgium, the Netherlands, and France, where people are rapidly adopting them for sports and transportation.

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Another reason for the progress of the e-bike market is that these vehicles help lower urban road congestion. Numerous countries, including Switzerland, Mexico, Japan, and France, are urging people to switch to e-bikes from petrol and diesel cars, motorcycles, and scooters, for short-distance traveling. As e-bikes need less driving and parking space, they free up the roads as well as sidewalks for pedestrians. This is especially beneficial in the peak hours, when the number of office goers on the road is the highest.

Around the world, Asia-Pacific (APAC) is the largest e-bike market, by sales volume, as it accounts for the highest sale of low-speed electric vehicles (LSEV), which include bicycles. Among the regional countries, Japan, China, and Indonesia witness the highest adoption of such automobiles, owing to their extreme air pollution levels. However, in terms of revenue, Europe held the largest share in 2019, as e-bikes are considerably more expensive here than in APAC. During the forecast period, the fastest progress, in terms of value as well as volume, would be experience by North America.

Hence, as the condition of the environment degrades further and governments encourage the use of light electric vehicles, especially for short distances, the demand for electric bicycles would also increase.

Market Size Breakdown by Segment
The electric bike market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2025.

Based on Ownership Type

• Personal
• Shared

Based on Battery

• Lithium-Ion
• Lead Acid

 Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Ownership Type
1.3.2 Market Segmentation by Battery
1.3.3 Market Segmentation by Propulsion Type
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Volume
1.3.6.2 Value
1.4 Key Stakeholders

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Bright Future Ahead for Asia-Pacific Electric Motor Market

The electric motor is one of the most important devices in contemporary times. It coverts electrical energy into mechanical energy via motion. From devices as small as smartphones to as large as a locomotive, electric motors have a diverse range of applications.

Due to the heavy usage of such motors, the consumption of electricity is increasing, and as the majority of electricity is still produced from fossil fuels, the need to reduce electricity consumption is dire. This is leading to the rising demand for energy-efficient electric motors, especially in Asia-Pacific (APAC), where the air pollution levels are quite high.

From $50,948.1 million in 2017, the APAC electric motor market is predicted to advance to $77,876.8 million in 2023, at a CAGR of 6.9% during the forecast period (2018¬–2023).

A significant demand for energy-efficient motors is coming from factories, where motors account for the major part of the electricity consumption. These enhanced motors conform to numerous minimum energy performance standards (MEPS), such as IE1, IE2, IE3, and IE4. While IE3 motors are common in Taiwan, Japan, and south Korea, China, India, and Vietnam currently use IE2-compliant motors.

Of the three types of electric motors used — alternating current (AC), direct current (DC), and hermetic — AC motors found the widest use during 2013–2017, due to their application in electric vehicles (EV). Such alternative-fuel vehicles are being strongly promoted in the region, in a bid to reduce carbon emissions and keep the environment as clean as possible.

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Sales targets for manufacturers as well as subsidies and incentives for buyers have been introduced, to increase the adoption of EVs. For instance, in 2017, the Chinese government allotted a $10,000 purchase subsidy per EV, after which their sales saw a rapid increase in the country.

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