Growing Infrastructure Sector Driving the Growth of Saudi Arabian Heating, Ventilation, and Air Conditioning Market

 

The Saudi Arabian heating, ventilation, and air conditioning (HVAC) market is growing on account of the rising infrastructure spending and expanding hospitality sector in the country. 

Along with the infrastructure, the hospitality sector of the nation is also booming, owing to the increasing number of travelers coming here from across the world. The two holiest sites in Islam — Makkah and Medina — are located in Saudi Arabia, which draw loads of people. 

To cater to the increasing tourists and pilgrims, the number of hotels and guestrooms in the nation is also surging, thereby driving the HVAC market in Saudi Arabia. Several multinational hospitality firms are expanding their reach here to provide accommodation to as many people as possible.

Seeing the focus of consumers toward reducing their electricity spending, major Saudi Arabian HVAC market players are launching systems that are more energy-efficient than before or modifying the technology of their existing products.

For instance, Daikin Industries Ltd. unveiled a new air-cooled scroll chiller product line with the R-32 refrigerant in January 2019. Compared to its existing scroll chillers that work on refrigerant R-401A, these have a 10.0% higher seasonal energy efficiency ratio.

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Wearable AI Devices Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast

The demand for AI-enabled voice assistance is gaining popularity, with voice assistance feature being integrated in them to support multiple functions. Such technology allows users to search through the web on the device with a voice command, related to the weather, news, reminders, scheduling appointments, making calls, reading messages, and much more. 

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The wearable AI devices market was valued at $11,182.8 million in 2018, and it is projected to reach $49,240.6 million by 2024, witnessing a CAGR of 29.0% during 2019–2024 (forecast period). The market growth across the globe is primarily driven by the changing lifestyle of people, surging use of fitness bands and healthcare applications, and demand for next-generation smartwatches. Such devices are used by consumers to track their fitness level, via inputs in the form of heat, light, sound, and pressure.

The wearable AI devices market is a promising opportunity for the players to integrate the AI-enabled voice assistant technology in wearable devices. Thus, the market is expected to advance due to the rapid demand for voice assistants in consumer electronics. North America held the largest share in the wearable AI devices market in 2018. 

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It was mainly due to the strong presence of already established market players, such as Facebook Inc. and Apple Inc., in the region. The fastest market growth is to be witnessed in Asia-Pacific (APAC) during the forecast period, driven by the growing demand for AI-integrated wearables, particularly in India and China, which is itself mostly owing to the increasing concerns for health and fitness. 

Thus, it is clear that the market will continue to grow substantially during the forecast period, as the demand for advanced consumer electronics, which performs multiple functions, rises.

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There is a Huge Potential in India Structured Cabling Market in Telecommunication Sector by 2023

On the brighter side, the nationwide demand for Wi-Fi services is on the rise, giving market players lucrative opportunities in the present and immediate future. Category 5 and Category 5e UTP were the cables of choice for over a decade, but a shift is now being seen toward Category 6 and 7, driven by the need for greater data transfer rate and higher bandwidth.

Companies want more bandwidth for video conferencing and digital audio streaming. As these processes are being increasingly utilized in the government, commercial, telecommunications and industrial spaces, the structured cable market in India continues to prosper.

Coming to the recent scenario (2013–2017), copper cables enjoyed the largest share in terms of revenue in the India structured cable market. While copper cables will still be the most widely sold in 2018–2023, the demand for fiber components will see the sharpest surge.

In terms of the type of wire, Category 7 wires gained the most during the historical period, and the same trend will continue through 2018–2023. Now, since Bangalore, the IT hub of India, is in its southern part, this is where the sector generated the highest revenue during the historical period. However, during the forecast period, the market is expected to witness the highest CAGR in the eastern part of the nation.

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Players are gearing up to meet consumer demands and consolidate their position in the domain by launching more products or establishing manufacturing plants across the country. Belden Inc. announced plans in 2017 to set up a manufacturing facility in Pune for ethernet switches, fiber optics and copper cables, and coaxial cables. 

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How is Need for Innovative Healthcare Information System Driving Laboratory Information System Market?

The requirement for advanced healthcare information system is increasing rapidly, which is why the need for laboratory information system (LIS) is rising as well. LIS includes a set of hardware and programs that are part of an integrated system designed for healthcare information. The system captures complex data and information which is related to medical and industrial laboratories. LIS aids in compiling the services related to treatment, care & rehabilitation, and diagnosis. The integrated healthcare system saves diagnosis time by streamlining back office operations and also aids in sharing information and discussing the treatment plan among doctors as per the patient’s need.

The laboratory information system market is expected to witness significant growth during the forecast period. Industrial, clinical, and drug discovery are the three applications of LIS. Among these, the largest demand for laboratory information system was created for clinical applications in the past and the situation is projected to remain the same in the coming years as well. LIS are utilized in healthcare laboratories for clinical purposes including sequencing and molecular testing. Clinical LIS help automate all the major processes and generate accurate results efficiently. The demand for LIS for clinical applications is rising because of growing number of tests and higher cost because of the emergence of new technologies.

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The growth in molecular diagnostics is contributing significantly to the increasing demand for LIS. Molecular diagnostics is a branch of in vitro diagnostics and is based on determining nucleic acid sequencing primarily for medical applications. Sequence determination is largely performed by making use of methods that are based on hybridization of labeled DNA probes with target nucleic acid sequences. The market for molecular diagnostics is changing rapidly for the better and the novel technologies are projected to yield product line extensions and machined for point-of-care market as test automation expands. This is expected to drive the market in the coming years.

The adoption of mobile-based application sand solutions is a key trend in the laboratory information system market. Mobile devices such as tablets and smartphones play a vital role in providing personalized health solutions. Multi-functional personalized mobile information systems offer a wide range of communication and information services to both clinicians and patients through smartphones. The utilization of mobile devices also decreases the need for patients to visit clinics or hospitals every time they require a diagnosis as their problems can be diagnosed by using mobile devices. Due to these factors, new mobile systems that aid in retrieving laboratory data easily have been designed.

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Cyber security Market Regional Revenue, Trends, Opportunities and Future Prospects

The cyber security market is predicted to grow substantially in the coming years due to the strict government regulation for data privacy, surging incidence of cyber-attacks, and increased utilization of mobile devices. Cyber security is a comprehensive system of technologies, practices, and processes which provide security to data, software programs, computers, and IT networks from any kind of unauthorized access, damage, and attack.

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In terms of component, the market is bifurcated into service and solution, between which, solution is expected to account for the major share of the market in the near future.When security type is taken into consideration, the cyber security market is divided into wireless, application, cloud, network, endpoint, and others (which include perimeter security, email security, information security, and web security).

Out of these, the application division held the largest share of the market in the past and is further predicted to dominate the market in the coming years. The reason for this is the rising requirement for protecting enterprise applications and data, increasing deployment of third-party applications, and surging complexity level of cyber-attacks.

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On the basis of industry, the cyber security market is categorized into manufacturing, IT & telecom, retail, healthcare, banking, financial services, & insurance (BFSI), government and public utilities, aerospace & defense, and others (which include hospitality, education, and automotive). Among these, the aerospace & defense category dominated the market in the past and is further predicted to account for the major share of the market in the near future. The BFSI category is projected to advance at the fastest pace in the near future.

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Automotive E-Tailing Market Growth and Demand Forecast

The automotive E-Tailing market offers a wide range of automotive components including infotainment systems, interior accessories, engine parts, tires-wheel, and electrical components. The E-Tailing market offers easy and hassle-free transactions as it includes various global and established players such as Alibaba, Amazon, AutoZone and eBay that is supporting positive growth in the market. E-Tailing is at the emerging stage in the developing markets such as India and Brazil, whereas the market is already growing significantly in countries such as the U.S., the U.K., and Germany due to high adoption E-Tailing by end users and availability of large number of seller.

Insights on market segments

As per the findings of research, the global automotive E-Tailing market has been segmented into different component which include infotainment system, interior accessories, engine parts, tires and wheels, and electrical products. The tire and wheel segment held the largest share in the global automotive E-Tailing market in 2016. The major factors driving the growth of the E-Tailing market is growing adoption of online shopping for automotive components by the end-users along with the availability of wide range of product at discounted price.

Asia-Pacific stands as the largest region for global automotive E-Tailing market

In 2016, Asia-Pacific dominated the global automotive E-Tailing market with over 44% share. The Asia-Pacific E-Tailing market is expected to grow at a CAGR of 13.7% supported by the largest market in China followed by India and Japan in during the forecast period. Such growth is likely to be driven by increase in GDP and rapid economic growth in developing countries such as India and China. Additionally, growing number of new players and startups are entering in the Asia-Pacific market and selling their products in Tier-I cities. The trend for online shopping has increased in recent years and the new and the established players are leveraging the positive growth in the automotive E-Tailing market. Moreover, the government is supporting the startups and providing them financial assistance and easy funding policies.

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GLOBAL AUTOMOTIVE E-TAILING MARKET

• By Application – Passenger Cars, Commercial Vehicles and Two-Wheelers
• By Product label - Genuine Label Products and Counterfeit Label Products
• By Vendor type - OEMs and Third Party
• By Component – Tires and Wheel, Infotainment and Multimedia, Interior Accessories, Electrical and Electronics, Powertrain and Others
• By Region –Asia-Pacific, Europe, North America, and Rest of the World (RoW).

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Soaring Global Temperature to Fuel Boom in Heating, Ventilation, and Air Conditioning Market till 2030

Due to the escalating demand for heating, ventilation, and air-conditioning (HVAC) equipment for various buildings and other enclosed spaces, rising government measures for HVAC adoption, and soaring global surface temperature, the HVAC market is expected to witness stable growth during the forecast period (2020–2030).

The market is predicted to increase in value from $240.8 billion in 2019 to $367.5 billion by 2030. HVAC equipment is widely used for heating and cooling purposes in residential, industrial, and commercial buildings.

The rapid rise in temperature, on account of global warming, is the biggest factor boosting the demand for cooling equipment, thereby driving the growth of HVAC market globally.

Global warming is mainly caused by the release of nitrogen oxides, methane, carbon dioxide (CO2), chlorofluorocarbons (CFCs), and other greenhouse gases, due to the burning of fossil fuels. According to the National Aeronautics and Space Administration (NASA), in 2017, there was a 0.90 °Celsius increase in the average global temperature from the 1951–1980 period.

The rise in the supportive measures and regulations launched by various governments across the globe is another important factor fueling the surge in the HVAC market revenue. For instance, the Environmental Protection Agency (EPA) is planning to expand the laws pertaining to the reduction in CFC and other ozone-layer-depleting substances’ emission.

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Furthermore, in 2018, the Indian Ministry of Power launched Eco-Niwas Samhita, which makes it mandatory for residential and mixed-land-use buildings to set minimum performance standards related to heat gain and heat loss.

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