How are Energy Conservation Efforts Propelling Grow Lights Market?

The population continues to explode, with 9.7 billion people estimated to inhabit the earth in 2050, compared to 7.7 billion in 2017, according to the United Nations. The already growing population is moving to cities, from rural and semi-rural areas, in search of jobs and better living conditions. 

This is why the size of urban centers is increasing, thereby rapidly leading to the encroachment of farming land. This is creating a problem, as the increasing number of people is leading to the rising demand for agricultural products.

Thus, to feed the growing population, at the same time dealing with the swift reduction in arable land, indoor and vertical farming methods are being adopted. Hence, with the rapid adoption of advanced agricultural practices, the grow lights market is on path to a huge revenue boom in the coming years.

Vertical and indoor farming can be practiced in any enclosed space, such as warehouses, laboratories, and even shipping containers, provided appropriate infrastructure is available. In the absence of sunlight, grow lights remain the only source of ultraviolet (UV) radiation for plant growth, which is why the demand for such products is surging.

Another reason behind the increasing sale of grow lights is the legalization of cannabis in numerous places around the world. For instance, the U.S. state of Colorado allowed the recreational usage of marijuana in 2012. This has already increased the interest of a large number of farmers, who are now looking at cannabis as a lucrative cash crop. 

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With most of the cannabis farming being done indoors, in vertically stacked layers, where grow lights are a necessity, since, being an enclosed space, such settings do not receive sunlight, the demand for these products is going up.

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How is Growing Education Industry Driving AI in Education Market?

The education industry can easily be called one of the most important parts of any country, since without education life would go back to primitive ways, which is why it is no doubt that the industry is growing swiftly at the present time. As per the Bureau of Labor Statistics, there are more than 100K establishments in the private education service industry, approximately 200K when local, state, and federal government institutions are included. 

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With the combination of both, the education industry employs more than 3.5 million people. Attributed to this growth, the education industry, much like any industry really at the present time, is undergoing technological innovations. One of the latest advancements in the industry is the integration of artificial intelligence (AI), which is a rapidly growing technological domain possessing capabilities of altering every aspects of social interaction. In the education sector, AI has begum producing new learning and teaching solutions that are going through testing in different contexts. 

Gone are those days when a simple pen and notebook sufficed for in a classroom. These days, the lives of human beings are surrounded by a number of devices that govern the daily lives and the learning platforms are not foreign to these advancements. According to a P&S Intelligence report, in 2019, the global AI in education market attained a value of $1.1 billion and is expected to generate a revenue of $25.7 billion in 2030, progressing at a 32.9% CAGR during the forecast period (2020–2030).

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The components of AI include both services, including professional and managed, and solutions, including software tools and platforms and hardware. The larger demand in 2019 was created for AI solutions, owing their increased need for helping educators in automating administrative tasks and exploring more possibilities for enhancing learning in classroom teaching. Machine learning (ML) and natural learning processing (NLP) are the two AI technologies which are used in the education sector. 

The demand for ML is predicted to increase considerably in the coming years, which is attributed to the rising need for automated grading systems, requirement for creating customized assignments for each student as per his/her weaknesses and strengths for improving the overall learning process and feedback, and growing emphasis on intelligent decision-making among educators. The demand for NLP is expected to be higher in the near future as it aids in processing text and speech in an electronic format from discussions and chats on portals that assists students in writing assignments and educators for better assessment.

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Patch management market is growing due to increasing need to mitigate vulnerabilities in software

The biggest rage presently being witnessed in the patch management market is the shifting focus toward automated business processes, throughout the world. Businesses are increasingly switching over to automated processes in order to improve productivity, enhance efficiency, and reduce operational costs. Moreover, automation removes the requirement for manual patch installation, enables the implementation of missing patches through automated workflows, and enhances system insights, thereby increasing the efficiency of the security management process.

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Geographically, North America registered the highest adoption of patch management solutions in 2019, and this trend is expected to continue during the forecast period. In North America, the U.S is expected to record more-significant growth in the demand for patch management solutions, which is mainly ascribed to the increasing number of cyber-attacks and the presence of major  providers of these solutions in the country, such as Oracle Corporation, Micro Focus International PLC, Microsoft Corporation, Qualys Inc., Ivanti Inc., and HPE Company.

The rapid automation of business processes is the key patch management market trend. IT automation helps in integrating various processes and tools, via automated workflow. The conventional process of patch management creates the need for extensive human engagement, in not only accomplishing the process, but also keeping the software products updated with the newest compliance standards and most recently launched features. Contrarily, automating the process provides consistency, improved security, and better system insights, which lead to enhanced protection for organizations.

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The major driver for the growth of the patch management market is the increasing need to make the system less vulnerable to security threats. Due to the rising vulnerabilities, the IT system of companies is rapidly being hacked, with the intent of causing harm. The impact of such attacks on integrity, availability of data, confidentiality, and complexity of attacks can be studied to determine the severity of the vulnerabilities. Though the internet has opened doors of growth, it has also increased the risk of cyber-attacks.

Hence, it can be undoubtedly said that owing to the rising prevalence of cyber-attacks, the mushrooming need for advanced security systems and solutions, and the increasing requirement for updated applications, the demand for patch management solutions will observe huge increase in the coming years.

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How is Rising Population Level Fuelling Surge in U.S. HVAC Services Market?

The biggest factor fuelling the demand for heating, ventilation, and air conditioning (HVAC) services in the U.S. is the booming construction sector in the country, primarily due to the rising population level and increasing urbanization rate.

As per the U.S. Census Bureau, the population of the U.S. is set to increase by almost 7% during 2019–2029. As a result, the U.S. HVAC services market is predicted to see an increase in value from $25.6 billion in 2019 to $35.8 billion in 2030 and progress at a CAGR of 3.1% during the forecast period (2020–2030).

In the U.S, the demand for HVAC maintenance and repair, upgradation and replacement, installation, and consulting services is quite high. Amongst these, repair and maintenance services were demanded by a lot of American citizens during till 2019.

It has been observed that HVAC systems that go through frequent maintenance and repair activities lead to 20% more savings in energy consumption and exhibit improved functional efficiency.

The demand for consulting services for HVAC systems, including thorough inspection by technicians, is expected to register quick growth in demand during the coming years.

HVAC systems are widely used in the industrial, residential, and commercial sectors. Out of these, the highest sale of HVAC services was recorded in the commercial buildings in 2019. This is primarily attributed to the massive surge in the construction of various commercial buildings, especially those pertaining to the hospitality niche.

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Furthermore, the construction of new commercial spaces in the country is expected to propel the adoption of HVAC systems, thereby boosting the need for installation and maintenance services.

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What are Key Factors behind Robust Wound Closure Products Market Prosperity?

Around the world, the volume of surgeries is increasing, because of a rise in the prevalence of various diseases as well as the disposable income of people, especially in developing countries. According to the Centers for Disease Control and Prevention, six among every 10 people in the U.S. suffer from at least one chronic disease. Diabetes, cardiovascular diseases (CVD), cancers, and chronic obstructive pulmonary disease (COPD) are among the chronic diseases with the highest incidence. Several of them require surgeries for effective management, which, in turn, involve making incisions into the living tissue and then closing them.

Therefore, with a rise in the prevalence of chronic diseases and surgery volume, the wound closure products market size is growing steadily. Among all people, those in the older age groups are more susceptible to diseases and injuries, as they have diminished immune function and are also physically weak. Between 2019 and 2050, the number of people above 65 years of age would increase from 703 million to 1.5 billion, as per the latest World Population Ageing report by the United Nations.

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Additionally, such people’s blood circulation is also often inadequate, which is why their wounds take longer to heal. Similarly, due to the high chance of post-surgical infections in such people, the usage of wound closure products is higher among them. Apart from surgeries, these products are also used for treating the wounds caused by injuries, burns, and chronic diseases (such as the foot ulcers caused by diabetes). The WHO says that every year, 1.35 million are killed in road crashes every year, mostly due to untimely medical assistance and profuse bleeding.

Globally, North America consumes the highest amounts of the products needed to manage wounds, as the population of the elderly, number of burn victims, and incidence of obesity and diabetes are quite high here. According to the Administration for Community Living, under the U.S. Department of Health and Human Services, the number of people in the country more than 65 years old would increase from 49.2 million in 2016 to almost 98 million in 2060. In the coming years though, the wound closure market growth would be the most rapid in Asia-Pacific (APAC), due to the same reasons that currently lead to North America’s dominance on it.

Hence, it is clear that as more people grow old and become chronic disease patients, the surgery volume would increase, which, in turn, would significantly raise the demand for wound closure products.

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How are Surging Cancer Cases Driving Molecular Biology Kits & Reagents and Enzymes Market?

The prevalence of cancer across the world is rising at a significant rate. According to the World Health Organization, cancer is the second leading cause of death worldwide, and was responsible for about 9.6 million deaths in 2018. Cancer basically arises from the transformation of normal cells into tumor cells, which is a multistage process and usually progresses from a pre-cancerous lesion to a malignant tumor. Some of the major risk factors for cancer include alcohol usage, tobacco consumption, physical inactivity, and an unhealthy diet. If diagnosed early, cancer can be dealt with getting proper treatment and palliative care.

However, researchers are still striving to find a definitive cure for cancer, which could further aid in reducing the burden of the disease. Attributed to this, the demand for molecular biology kits & reagents and & enzymes is growing swiftly. These products are utilized for performing ribonucleic acid (RNA) analysis, deoxyribonucleic acid (DNA) isolation, cloning, polymerase chain reaction, DNA sequencing, RNA extraction, and protein analysis. They are also used for performing several diagnostic tests, genetic analysis, molecular tests, and aid in drug discovery and development. Associated with the field of biochemistry, biology, and genetics, molecular biology products allow scientists to understand the cellular systems in a better and simplified manner.

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Because of these factors, the molecular biology kits & reagents and enzymes market is expected to register substantial growth in the coming years. Apart from cancer, these products are also being utilized within the protocol for diagnosing patients who are suffering from diabetes and infections. DNA extraction process takes place with the help of molecular biology products, which is the initial step for the diagnosis of diseases and genetic disorders, including Alzheimer’s disease, sickle cell anemia, and cystic fibrosis. The techniques which are used for extracting DNA are terminal restriction fragment length polymorphism, fluorescence in situ hybridization, and sequencing.

Among the different products, namely kits & reagents and enzymes, the larger demand in the past was created for kits & reagents. Hospitals & diagnostic centers, academic and research institutes, and pharmaceutical and biotechnology companies make use of these molecular biology products. The largest demand for molecular kits & reagents and enzymes in the past was created by academic and research institutes for different research and development activities. The growing adoption of these products in different industries is predicted to result in the growth of the molecular biology kits & reagents and enzymes market.

Thus, in order to provide proper diagnosis for these diseases and for research regarding effective cures, molecular biology products are increasingly being adopted. 

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How is Rising Need for Healthcare IT Solutions Fuelling Progress Global Hospital Capacity Management Solutions Market?

The rising demand for better healthcare facilities and rapid technological advancements in the healthcare sector are the major factors fuelling the demand for hospital capacity management solutions across the world. In addition to this, the mushrooming investments being made by several healthcare information technology (HIT) companies, soaring number of hospitals, and burgeoning need for integrated healthcare solutions are further pushing the demand for these solutions throughout the world. Propelled by these factors, the global hospital capacity management solutions market is expected to exhibit huge growth in the coming years.

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There has been a massive rise in the prevalence of chronic diseases and geriatric population over the last few decades, and this has resulted in a growth in the demand for effective hospital capacity management solutions. These solutions help in enhancing the workflow efficiency and reducing hospital expenses, with the help of effective asset management (proper utilization and maintenance of high-end medical equipment) and bed management software, in order to help in the provision of quality patient care. Bed management measures allow the hospitals to track the rate of utilization of the beds and effectively manage various processes pertaining to bed admission and maintenance.

Globally, North America and Europe are observing the highest usage of hospital capacity management solutions. This is primarily attributed to the increasing incidence of chronic diseases, soaring geriatric population, higher healthcare expenditure, and improving healthcare infrastructure in these regions. Moreover, the swift technological advancements in such software, the rising awareness regarding the applications of these solutions, and raging COVID epidemic are significantly contributing to the growing demand for these solutions in these regions. In North America and Europe, the U.S. and Italy, respectively, are witnessing the widest adoption of such solutions.

Therefore, it is clear that due to the increasing need for automation in healthcare settings, burgeoning demand for the integration of HIT solutions, and the increasing requirement of better healthcare facilities and services, the demand for hospital capacity management solutions will rise significantly in the coming years.

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