Electric Vehicle Supply Equipment Market to Grow Nearly 10.7% through 2025

The electric vehicle supply equipment market is being positively impacted by the increasing sale of electric vehicles, investments being poured in by manufacturers, and government support for installing such charging stations. The market is predicted to witness a 10.7% CAGR during the forecast period (2020–2025) to see an increase in its revenue to $2.7 billion in 2025, from $1.5 billion in 2019. A charging point can have numerous connections, only one of which can be used at any particular time.

EVSE Market Report

Based on type, the EVSE market is bifurcated into direct current (DC) and alternating current (AC) chargers. Of these, AC chargers held the larger share during the historical period (2014–2019), as they are cost-effective in their operation, installation, and manufacturing. During the forecast period, DC chargers will witness swifter growth, owing to their faster charging ability, which is also why they are mostly installed along highways, rather than at homes.

The major driving factor for the EVSE market growth is the rapid adoption of EVs, which is resulting in the increasing need for electricity supply infrastructure. With the air pollution levels increasing due to the burning of fossil fuels in conventional vehicles, electric variants are being promoted in numerous nations. The International Energy Agency reports a 2 million surge in EV sales, which crossed the 5 million mark in 2018. These sales are further expected to grow at a rate of 30% in the coming years, thereby boosting EVSE deployment.

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The government of several countries are taking efforts to install EV charging stations. For instance, the South Korean government has targeted the deployment of 10,000 fast chargers by 2022. Similarly, India has plans to install 2,700 charging stations by 2023, in cities with more than 4 million residents. In the same vein, Canada sanctioned $4.6 million in 2019 for the installation of 92 DC chargers, while the Californian government has proposed a funding of $900 million for the deployment of 250,000 charging points by 2025.

Hence, with the growing adoption of EVs, the demand for equipment to supply electricity will keep increasing.

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C-RAN Market Insights, Potential Business Strategies, Mergers and Acquisitions, Revenue Analysis

In 2018, the global cloud and centralized radio access network (C-RAN) market reached $936.3 million and is expected to generate $2,159.2 million in 2024, witnessing a 15.9% CAGR during the forecast period (2019–2024). The market is growing due to the reduction in hardware costs, rising data traffic, and increasing penetration of 5G technology. C-RAN allows real-time virtualization and large-scale deployment in addition to providing collaborative radio technology support.

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Moreover, C-RAN is a primary aspect for the growth of wireless technologies, such as 5G. When component is considered, the C-RAN market is categorized into services, infrastructure, and solution. The infrastructure category dominated the market during the historical period (2014–2018) and is further expected to account for the major share of the market during the forecast period. 

This is because of the rising investments in 5G and other technologies, such as 4G and LTE, by mobile operators. The category is further classified into fronthaul, baseband units (BBU), and remote radio units (RRU), among which, the BBUs classification held the largest share of the market during the historical period. On the basis of application, the C-RAN market is divided into targeted outdoor urban areas, suburban & rural areas, large public venues, and high-density urban areas. 

The large public venues application accounted for the largest share of the market during the historical period and is projected to retain its position during the forecast period. The targeted outdoor urban areas application is expected to grow at the fastest pace during the forecast period as these areas include commercial and residential spaces that created a large demand for C-RAN for transforming networks to 5G and LTE. A major trend being observed in the C-RAN market is the growing adoption of network virtualization technology. 

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Enterprises around the globe are becoming more inclined toward virtualization in order to gain an edge over their competitors, primarily in terms of network capabilities. Network virtualization is being adopted by various financial organizations, cloud service providers, and enterprise data centers. In addition to this, both large and small organizations are also taking benefit of network virtualization for speed, efficiency, and scalability.

Thus, the market is growing due to the rising penetration of 5G technology and rapidly increasing data traffic.

  

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Robotic Process Automation Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

In 2017, the global robotic process automation (RPA) market reached a value of $1,195.9 million and is projected to register a 36.2% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the surging demand for virtual workforce, reduction in workforce cost, greater ease of doing business, and decreasing cost of automation software and services. RPA is a technology that helps in configuring computer software for capturing and interpreting existing applications to trigger several responses, process transactions, communicate with other digital systems, and manipulate data.

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When process is taken into consideration, the robotic process automation market is categorized into decision support & management, interaction solution, and automated solution. Out of these, the automated solution category dominated the market during the historical period (2013–2017) and is projected to hold the largest share of the market during the forecast period as well. 

This is ascribed to the expansion of banking, financial services, & insurance (BFSI) industry, which has been adopting RPA increasingly in order to enhance efficiency and decrease cost. On the basis of industry, the robotic process automation market is divided into telecom & IT, manufacturing, BFSI, retail & consumer goods, healthcare & pharmaceuticals, and others (which include transport & logistics, travel & tourism, and hospitality). 

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Among these, the telecom & IT division accounted for the largest share of the market during the historical period and is expected to retain its position during the forecast period. RPA allows telecom companies to manage their back-office tasks with ease and deal with a large number of rule-based operational and repetitive tasks. The surging requirement for virtual workforce is a key factor contributing to the growth of the robotic process automation market. 

The growing digitization has been encouraging enterprises to adopt best practices which provide service in a timely manner and are cost-effective. Virtual workforce aims to automate business processes in order to save both cost and time and thus is a big part of digital transformation. By automating mundane and repetitive tasks, virtual workforce allows employees to focus on tasks that need human intervention for better decision making, which is why its demand is increasing.

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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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