Demand for Electric Trucks in US - Business Report 2020-2030

This penetration of electric vehicles in the U.S. is not just limited to passenger vehicles, but commercial heavy duty and light duty vehicles which run on electricity are also being increasingly adopted. Electric trucks have many advantages over traditional fuel-based trucks, such as low operational and maintenance costs, which is why the demand for these trucks in the U.S. is growing. According to a report by P&S Intelligence, in 2019, the U.S. electric truck market reached a value of $211.5 million and is predicted to generate a revenue of $30,335.3 million by 2030, advancing at a rapid pace of 58.2% CAGR during the forecast period (2020–2030).

Electric trucks are of three types, namely heavy-duty truck (HDT), light-duty truck (LDT), and medium-duty truck (MDT). Out of these, the LDTs are predicted to be the most in demand in the coming years. Companies in the domain are targeting fleet owners, who are focusing on reducing their operational expenditure, and are offering them electric variants of pickup trucks. These trucks have different ranges— 0–150 miles, 151–250 miles, 251–500 miles, and >500 miles. Electric trucks in the range of 151–250 miles were the most in demand in 2019, as the preference of class I and II trucks is high.

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In addition to this, trucks having higher range have not yet been able to address issues such as long charging time, high battery weight, and low battery energy density. In terms of propulsion, there are four types of electric trucks, namely fuel cell electric vehicle (FCEV), battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). BEVs were most in demand in the past, which can be ascribed to the rising government support in the form of incentives. Moreover, companies in the domain are collaborating with battery manufacturers to bring down the battery cost further and increase their energy density and life span.

Electric trucks have applications in logistics and municipal sectors. The logistics sector created the larger demand for electric trucks in the U.S. in 2019, owing to the swift growth of the e-commerce, retail, and manufacturing industries in the country. Furthermore, the logistics sector itself is registering significant growth in the U.S., which is contributing to the growth of the U.S. electric truck market. As the demand for faster and more convenient deliveries is growing, logistics companies are electrifying their fleet for optimizing operations.

Hence, the demand for electric trucks in the U.S. is rising due to the decreasing battery costs and expanding logistics sector.

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COVID-19 Impact Analysis on Beauty Devices Market. Insights on Strategies of Key Players

The soaring geriatric population in several countries is one of the biggest factors propelling the demand for beauty care products and devices across the globe. In the developing nations such as India and China, the geriatric population is expected to be much higher than that in the developed countries. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of people in China India, and Brazil having ages above 60 years are expected to rise to 437 million, 324 million, and 58 million respectively, by 2050.

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The rising awareness about beauty care products, devices, and therapies such as photorejuvenation devices and light/light emitting diode (LED) therapy for skin tightening and removing dark spots and pigmentation and increasing disposable income of the people are the other major factors fuelling the growing demand for beauty devices across the world. As per the U.S. Bureau of Labor Statistics, the total disposable income of the people in the U.S. grew from $10,036.9 billion to $13,968.6 billion from 2006 to 2016 and this number is predicted to rise to $21,178.2 billion by 2026.

The most major trends currently being witnessed in the beauty devices market are the rising utilization of electronic beauty devices and increasing development of technologically innovative products. Due to the frequent launch of technologically advanced beauty devices, dermatologists, clinicians, and aestheticians are able to better treat various skin problems and ailments such as improving skin textures, reducing the signs of ageing, and removing spots. For instance, Nu Skin Enterprises Inc. developed the ageLOC LumiSpa, which is a rechargeable and waterproof handheld personal skin care cleansing device, in January 2018.

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Globally, North America is anticipated to register the highest usage of beauty devices in the coming years. This is mainly ascribed to the greater spending capacity of people in this region on personal care and beauty devices owing to their high disposable income. Furthermore, the rising prevalence of skin diseases and the increasing awareness about skin care and skin problems amongst the people in this region are expected to significantly boost the usage of beauty devices in the region over the next few years.

Hence, it can be concluded that owing to the rising incidence of skin problems, increasing consumer awareness about skin ailments, and rapid development of advanced personal and beauty care products, the demand for beauty devices will surge in the coming years. 

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SD-WAN Market Analysis, Post COVID-19 Impact | Potential Business Impacts for Key Players

Due to the increasing need for a simplified network architecture, network security and privacy, and cost-effective network management and migration of global enterprises from traditional wide area network (WAN) infrastructure to cloud-based solutions, the global software-defined wide area network (SD-WAN) market is expected to generate $9,691.0 million revenue by 2023, compared to $676.9 million in 2017. The market is predicted to witness rapid growth during the forecast period (2018–2023), with a CAGR of 54.1%.

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The mushrooming demand for cost-effective network management is one of the major factors driving the growth of the SD-WAN market. The maintenance and management of traditional WAN is expensive, while configuring it manually is complex and time-consuming. Moreover, the recent times have witnessed a growing preference for mobile and cloud-based technologies, which is further increasing the complexity of the WAN. In order to overcome this problem, businesses are adopting SD-WAN solutions, which enable them to automate the WAN configuration and decrease the gross operational cost.

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The surging need for network security and privacy across the world is another factor driving the SD-WAN market. Owing to the increasing usage of data and the rising threats to network security, the demand for SD-WAN solutions, on account of their ability to provide data security and privacy, is surging. Additionally, the capability of SD-WAN solutions to assist in the measurement and monitoring of network traffic, which allows the IT department to quickly detect a security breach, is another factor resulting in the high demand for them.

The research offers historical market size of the global software defined wide area network (SD-WAN) market for the period 2013–2017 and market forecast for the period 2018–2023.

Market Segmentation by Offering

Solution
WAN Infrastructure
SD-WAN control and overlay

Service
CSP SD-WAN Managed Services
Cloud-Managed SD-WAN

Market Segmentation by ApplianceVirtual
Physical
Hybrid

Market Segmentation by Implementation TypeIn-house
Outsourced

Market Segmentation by IndustryIT and Telecom
BFSI
Government
Healthcare
Others (Includes Defense, Retail and Manufacturing Industry)

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COVID-19 pandemic - Personal Robots Market | The demand for the Market will drastically increase in the Future

The global personal robots market is projected to reach $34,120.3 million by 2022, growing at a CAGR of 37.8% during 2016 – 2022. The study suggests that the global personal robots market is likely to grow from $3.8 billion in 2015 to $34.1 billion by 2022. 

The demand for mobile robots has been increasing due to security concerns. These robots are capable of locomotion and are not fixed to one physical location. Such robots find their application in spying, hence, are also known as spying robot.

The increase in urbanization is introducing machines, such as personal robots, in the households. Moreover, the declining price of personal robots has been encouraging the budget-conscious customers to purchase them. 

Some of the key players in the global market include Honda Motor Co. Ltd., Sony Corporation, Samsung Electronics Co. Ltd., F&P Robotics AG, ZMP Inc., Segway Inc., Neato Robotics Inc., Ecovacs Robotics Inc., Hasbro Inc., and iRobot Corporation. Some of the low-cost cleaning robots are Milagrow Black Cat MGRV002 Robotic Floor Cleaner, Philips FC8800/01 Robotic Vacuum Cleaner, Exilient ReadMaid Robotic Vacuum Cleaner, Neato XV Signature Pro Robotic Vacuum Cleaner, and O-Duster Robotic Floor Cleaner. The surging demand for such robots is an opportunity for the manufacturers in this market. 

Geographically, Europe has been the largest personal robots market, where Germany stood as the largest contributor to the regional market. In North America, the U.S. has been the major market for personal robots, whereas in Asia-Pacific, Japan has been the major contributor to the reginal revenue.

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GLOBAL PERSONAL ROBOTS MARKET

·         By Type – Cleaning Robot, Entertainment & Toy Robot, Education Robot, Handicap Assistance Robot, Companion Robot, Personal Transportation Robot, Security Robot, and Others.

·         By Region – North America, Europe, Asia-Pacific and Rest of the World (RoW).

Product launches and strategic partnerships have been the major recent developments in the global personal robots market. Samsung, Segway and F&P Robotics are some of the companies that recently introduced personal robot products. Sony, Samsung and ZMP are some of the major players to announce partnerships in this market.

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Service Integration and Management Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2023

A key driving factor of the SIAM market is the provision of service quality improvement leading to process efficiency. The adoption of SIAM results in the improvement of service quality, which encourages the companies to shift their focus from achieving the routine contractual targets to service enhancement and research & development. Due to enhanced service quality, enterprises can achieve consistency in meeting their service-level targets, including resolving problems on time and end-to-end service reliability and availability. Furthermore, improved service quality results in increased customer satisfaction, which is why organizations are adopting SIAM models.

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In terms of industry, the SIAM market is divided into banking, financial services, and insurance (BFSI), energy & utility, telecom & IT, retail & manufacturing, transportation & logistics, and others (which include healthcare, government, and life sciences). Among these, the telecom & IT industry held the largest share of the market during the historical period and is predicted to retain its position during the forecast period. The reason for this is the increased complexity of IT services and the growing number of service providers around the world.

In 2017, the global service integration and management (SIAM) market reached a value of $2,995.3 million and is projected to advance at a 9.4% CAGR during the forecast period (2018–2023). Service quality enhancement leading to process efficiency and cost efficiency and value enhancement are the major factors resulting in the growth of the market. The governance, management, and coordination of services, such as IT and business, which are provided by multiple suppliers and integration of these services for providing solo business-facing service model is referred to as SIAM.

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When service is taken into consideration, the SIAM market is categorized into integration & automation, consulting & implementation, and assessment & advisory. Out of these, the consulting & implementation category dominated the market during the historical period (2013–2017) and is further predicted to hold the largest share of the market during the forecast period. The integration & automation and assessment & advisory categories are expected to grow at a faster pace than consulting & implementation category during the forecast period.

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Why is Surgical Robotic System Market Expected to Register Huge Growth in North America in Future?

Due to the rising incidence of chronic cardiovascular diseases, on account of the sedentary lifestyle and soaring geriatric population, the adoption of surgical robotic systems is expected to boom in the healthcare settings across the world, in the coming years. Surgical robotic systems are extensively used for the treatment of multiple types of cardiovascular diseases and ailments, with minimal pain and invasion. Owing to their high precision, these systems are experiencing rising popularity in several countries around the world.

Due to the above-mentioned factor, the global surgical robotic system market size is expected to demonstrate substantial growth over the next few years. Surgical robots are controlled and managed by surgeons via computers and they perform surgeries with the help of robotic arms. A robotically assisted surgical (RAS) device is, basically, a computer-assisted surgical device that allows the surgeon to leverage advanced software for moving and controlling surgical instruments through one (minimally invasive) or multiple incisions  in the patient’s body, for a wide array of surgical procedures.

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Geographically, North America is predicted to register the highest usage of surgical robotic systems in various surgical procedures, during the forecast period. The main factors responsible for the large-scale usage of these systems in North America are the wide-scale utilization of these robotic systems for cardiovascular diagnosis and therapeutic procedures in specialty clinics and hospitals all around the world. In addition to this, many countries in the region offer the provision of insurance for robotic surgical procedures, which in turn, contribute toward the growing popularity of these surgeries.

Therefore, it can be said without any doubt that due to the rising incidence of chronic heart and cardiovascular diseases and ailments and the increasing incorporation of technologically advanced procedures in healthcare settings, the demand for surgical robotic systems will surge in the coming years.

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Business Impacts of COVID-19 on Asia-Pacific (APAC) Automotive Tire Market | Exclusive Report Analysis by P&S Intelligence

Owning a vehicle these days is, for sure, not as hard as it was sometime back. While automobiles were a luxurious item before, that is no longer the case now, thanks to the swift economic growth and increased disposable income of people, primarily in the emerging economies in Asia-Pacific (APAC). In fact, China is the leading automobile manufacturer across the globe. In 2019, the total of automobile sales in China stood at 25 million units, among which 21 million were passenger cars. Ascribed to these factors, the requirement for automotive tires in the APAC region is growing at a rapid pace.

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According to a report by P&S Intelligence, in 2018, the APAC automotive tire market witnessed a sale of 1,080.5 million units, which is projected to increase to 1,826.8 million units by 2024, progressing at a 9.1% CAGR during the forecast period (2019–2024). Among the different vehicle types, including passenger cars, medium & heavy commercial vehicles, two-wheelers, and light commercial vehicles, the largest demand for automotive tires in the region is created for passenger vehicles, owing to the large population base which purchases these.

The research offers market size of the APAC automotive tire market for the period 2014–2024.

Market Segmentation by Vehicle

Two-Wheelers

Passenger Cars

Light Commercial Vehicles

Medium and Heavy Commercial Vehicles

Market Segmentation by Design

Radial

Bias

Market Segmentation by End Use

Original Equipment Manufacturer (OEM)

Aftermarket

China is the largest APAC automotive tire market, particularly because of the fact that the country is the largest manufacturer of automobiles, as mentioned above. As per the China Association of Automobile Manufacturers, the country is projected to manufacture about 30 million passenger cars by 2020 and 35 million units by 2025. Apart from this, countries including Indonesia, Japan, India, and South Korea are also expected to create a considerable demand for automotive tires in the coming years, which is attributed to the rising per capita income of consumers, thereby resulting in the increasing consumer base in these countries.

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Hence, the requirement for tires in APAC is increasing due to the rising production of vehicles and technological advancements.

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