Growing need for remote accessibility in organizations to take forward mobile virtual private network market forward

Organizations' Increasing demand for wireless protected accessibility for critical application area surging prevalence of cyber Threats, and growing need for remote data accessibility in businesses are Strengthening the prospects for the mobile virtual private network market . In the year 2017, the market is down 5.4 million, and it is predicted to register a CAGR of 19.7% over the forecast period (2018-2023). Mobile VPN creates a private network around the public network and helps users send and receive data securely and secretly from smartphones and PCs to and from the network.

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Field workers, physicians, and medical staff are rapidly adopting these solutions to access sensitive medical records and healthcare applications via wireless networks. On the basis of distribution channel, the mobile VPN market is categorized into direct sales, value-added resellers, partners and distributors, and online. Out of these, in 2017, the partners and distributors category contributed over 40.0% revenue to the market. The category is also predicted to dominate the market during the forecast period, as they offer better on-premises services compared to other suppliers.

Geographically, in 2017, North America contributed the largest revenue to the mobile VPN market, and it is also anticipated to continue leading it during the forecast period. Within the continent, in 2017, the telecommunications sector registered the dominant revenue share in the North American market due to the significant adoption of mobile devices here. However, the Asia-Pacific region is predicted to witness the highest CAGR of more than 30.0% in the market during the forecast period.

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This is mainly attributed to the strong encryption algorithms of VPNs with long-key strengths that help in securing confidential data at the time of transmission, which is critical for private and public enterprises. Nowadays, organizations prefer using centrally managed remote offices that help them provide secure access to confidential data to their workforce at a low cost. Further, to reduce operational costs and maintain local presence, companies are providing remote access to business-critical applications so their employees can work from anywhere. Hence, a mobile VPN is a vital solution for such businesses where employees have access to a company's network via wireless devices.

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How is Coronavirus Resulting in Growth of Flu Treatment Market?

Flu, which also goes by the name influenza, is quite a common disease these days, and it affects millions of people across the globe each year. According to the World Health Organization, the disease affects 5 million people severely and results in approximately 650,000 deaths each year. The symptoms of seasonal influenza include a sudden onset of fever, cough, muscle & joint pain, a runny nose, headache, severe malaise, and sore throat. While most people recover from these symptoms in about a week without needing any medical intervention, influenza can cause severe illness or death, particularly in people with other risk factors.

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Seasonal influenza viruses are of four types, namely types A, B, C, and D, among which, influenza A and B viruses circulate and are responsible for the seasonal epidemics of the disease. Those suffering from uncomplicated flu infections are mostly provided palliative treatment (symptomatic relief); however, people who suffer from severe infections are treated using antivirals. Some of the major companies in the flu treatment market are Idenix Pharmaceuticals, Gilead Sciences, Pfizer Inc., GlaxoSmithKline PLC, and Bristol-Myers Squibb LLC. The demand for different flu treatment medicines has further been increasing on account of the novel coronavirus.

A number of countries, including Japan, the U.S., and China, are working of developing drugs for treating coronavirus; however, these will need to go through animal testing, followed by human trials in various phases, before getting the regulatory approval for mass production. In this scenario, the available antivirals are being clinically tested on patients, who are affected by COVID-19. For example, Avigan, the Japanese flu drug containing favipiravir, was reportedly given to about 340 people in China, who had tested positive for coronavirus. The patients are claimed to have recovered without displaying any side-effects after the administration. On similar lines, patients in Shenzhen tested negative for the virus after just four days of being given favipiravir, and those who weren’t given the same treatment tested negative after 11 days.

Moreover, chest X-rays of 91% of the patients treated with favipiravir displayed improvements in lung function, while only 61% people who weren’t given the treatment showed betterment in their lung condition. Due to these results, trials are also being conducted in Wuhan, with the drug. Attributed to this preliminary success of favipiravir, various other influenza medicines are predicted to be utilized in COVID-19 trials in the upcoming months, which is further expected to result in the growth of the flu treatment market.

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Why Digital Pen Market Growth Depends on People’s Purchasing Power?

Compared to $694.917 in 1970, the average person earned $8,826.15 in 2017, according to the World Bank. This clearly shows that people now have more to spend on products that they wouldn’t dare think of buying until 10¬–15 years ago. Such ‘products’ mainly include smartphones, laptops, computers, tablets, and other high-end consumer electronics.

With the rise in the uptake of smartphones and tablets, the popularity of digital pens is also increasing around the world. Thus, with the surge in the disposable income of people, the digital pen market is projected to grow to $2,098.1 million by 2023 from $773.5 million in 2017, at an 18.4% CAGR during the forecast period (2018–2023).

Just like a regular pen writes on paper, a digital pen writes on a digital pad, like the screen of an iPad, smartphone, or an external writing pad connected to a PC. With such consumer electronics, what people write is instantly converted to a digital form, thereby giving users the convenience of not having to type the text separately on a keyboard or tablet or smartphone screen.

With people owning more than one communication device, often with different operating systems (OS), the sale of multiple-OS digital pens is surging more rapidly than single-OS variants.

The usage of such devices is not just rising at the individual level, but also at the enterprise level. Digitization is picking up pace around the world, as governments and organizations are scrambling to eliminate as much of the paperwork as possible, as quickly as possible.

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For instance, police departments in Germany and the U.S. have begun using digital pens to file crime and missing people reports. Similarly, the banking, financial services, and insurance (BFSI) sector is utilizing these consumer electronics to fill forms for new accounts and loans, to reduce its operational costs incurred by procuring writing paper.

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Global Position Sensor Market Set to Witness Consistent Growth till 2024

The burgeoning usage of position sensors in various automobile parts and applications, such as pedal positioning, clutch plates, parking assistance systems, hybrid engines, and steering angle sensing, is one of the biggest factors increasing their demand across the world.

The soaring production of vehicles across the globe, especially in emerging economies, such as Thailand, China, and Indonesia, is another factor pushing the demand for position sensors. It has been observed that the production of motor vehicles in China increased from 7.7 million units in 2013 to 29.7 million units in 2017.

Due to the above-mentioned factors, the revenue generated from the sales of position sensors stood at $9.1 billion in 2018. It is predicted that the global position sensor market will reach a valuation of $14.2 billion by 2024, with a CAGR of 7.7% during 2019–2024 (forecast period).

There are mainly two types of position sensors — linear and rotary — of which rotary variants registered higher sales in 2018. This is attributed to the wide-scale utilization of these sensors in various automotive applications, such as throttle position control and pedal position, and in numerous consumer electronic appliances.

Apart from automotive, packaging is another field where these devices are used. Therefore, the thriving packaging industry across the world, especially in developing nations, such as India and China, is also responsible for the growing demand for these instruments.

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According to several reports, the plastic packaging industry in India, owing to the growing pharmaceutical and food and beverage sectors and increasing exports requiring superior packaging, in order to meet the standards of international markets, recorded huge growth during 2010–2017.

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How is Soaring Global Geriatric Population Fuelling Surge in Population Health Management Market?

The soaring global geriatric population, which is expected to reach at least 1.5 billion by 2050, according to the World Health Organization (WHO), is a key factor responsible for the rise in the demand for population health management (PHM). Elderly people require extensive care as they are more susceptible to diseases, especially chronic diseases, such as cancer and cardiovascular ailments, owing to their low immunity levels and high recovery periods. This causes a huge increase in the demand for better prevention, diagnosis, and treatment processes. In addition to this, older people also have a greater requirement for personalized medicine, because of their increased susceptibility to drug allergy, thereby boosting the demand for population health management.

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The other important factors bolstering the demand for PHM are the increasing healthcare expenditure, incentives, and investments by various governments throughout the world. The adoption of healthcare information technology and the enactment of the Patient Protection and Affordable Care Act, also called Obamacare, by the federal government of the U.S. are also contributing toward the rising popularity of the PHM approach. Driven by these factors, the global population health management market is expected to register considerable growth in the coming years.

Globally, North America has recorded the highest adoption of PHM solutions in the last few years, and this region is also expected to witness the highest usage of these solutions in the coming years. 

This is mainly attributed to the increasing government regulations aimed at promoting the adoption of PHM solutions, soaring healthcare expenditure, developing healthcare infrastructure, and rising incidence of chronic diseases. In North America, the population health management market in the U.S. is the more productive, primarily on account of the Patient Protection and Affordable Care Act.

Therefore, it can be concluded that owing to the burgeoning demand for advanced healthcare solutions that are backed by holistic data analysis and the soaring geriatric population levels and associated health disorders, the demand for PHM will witness tremendous growth in the coming years.

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Cyber Insurance Market to Boom in Developed as well as Developing World

Cyber attacks lead to financial losses of almost $600 billion, which is roughly 0.8% of the worldwide gross domestic product (GDP), every year, according to the latest Economic Impact of Cybercrime report by McAfee. With the world shifting to digital platforms from the simple pen-and-paper mode, the data is becoming increasingly vulnerable to attacks by hackers and thieves. While the cyber security domain is itself going through advancements, such as the integration of artificial intelligence (AI), cyber criminals are still one step ahead.

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Thus, with the increasing incidence of cyber attacks and the resulting need of companies as well as individuals to protect themselves from losses, the cyber insurance market is growing around the world. Most of the cyber crimes are conducted with the motive of financial prosperity, for instance the May 2017 ransomware, which infected more than 300,000 computers in over 100 countries, as part of a worldwide extortion attempt. Hence, individual owners and companies are rapidly seeking cyber insurance, risk consulting, and claims services.

Among them, claims services have been quite high in demand in the past, as people have lost millions of dollars due to cyber attacks, which has necessitated the need for reimbursements and coverage. Due to the same reason, customers are expected to rapidly opt for risk consulting services in the coming years, to analyze the vulnerabilities in their network and servers and be better prepared for a rainy day. By knowing their risk beforehand, end users can adopt robust cyber security measures to thwart any internet-based attack.

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The risk of cyber attacks is high for large as well as small and medium enterprises (SMEs). Due to the fact that plumper sums can be extorted from larger companies, hackers majorly target these. For instance, the distributed denial of service (DDoS) attack of October 2016 impacted the operations of several multinational firms, including Airbnb, Netflix, Spotify, and Twitter. It is because of these reasons that large enterprises have sought cyber insurance services more than SMEs in the past.

GLOBAL CYBER INSURANCE MARKET

By Enterprise Size

• Large Enterprise

• Small and Medium Enterprise

By Service

• Insurance

• Claim Service

• Risk Consulting

By Industry

• BFSI, Healthcare

• Retail & Manufacturing

• IT Services

By Region

• Americas

• Europe

• Rest of the World (RoW)

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Autonomous Mobile Robots Market to Witness a 18.3% CAGR During 2020–2030

The growing demand for automation solutions is a key driving factor for the growth of autonomous mobile robots market globally. This rise in demand for automation solution is because of the lack of labor, growing complexity in manufacturing operations, surging focus on productivity, and high labor cost.

Ascribed to these factors, different industries are making use of AMRs. For example, logistics and warehouses need AMRs for tasks including loading and transportation work. In addition to this, the automotive original equipment manufacturers utilize robots for performing complex assembly processes such as those involving the use of flexible parts. These factors are resulting in the growing demand for AMRs.

AMRs are increasingly being deployed in the agriculture sectors for different applications, which is opening up wide opportunities for the players operating in the domain. With the growing implementation of technology in agriculture applications, farming practices are becoming sophisticated and modernized.

In addition to this, due to the surging population, increasing automation in the agriculture industry, and lack of availability of farm workers, the need for AMRs is in the industry is rising. AMRs can capture crop data in agricultural fields, which aids in predicting the yield of crop and its health.

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Out of these, the logistics sector made the most use of AMRs during 2014–2019, and the largest demand for these devices is further projected to be created by the logistics sector in the coming years. The fastest growth in demand for AMRs is predicted to be registered by the hospitality sector during the forecast period.

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