Electric Motor Market to be Worth over $150.0 Billion by 2023

Almost everything which moves, apart from humans and animals, has an electric motor, be it a washing machine or a train. It is a simple device which converts electricity into mechanical energy, most commonly in the form of motion. In the current scenario, the major reason behind the increasing demand for such devices is the need to reduce the consumption of energy. For instance, in a factory, an electric motor accounts for the maximum electricity usage, and by using energy-efficient devices, not only can the expenditure on power be reduced, but the carbon emissions can also be ultimately brought down.

Thus, with the expansion in the industrial sector, especially in developing countries, in a world constantly plagued by air pollution, the electric motor market is projected to grow to $155.1 billion by 2023 from $108.5 billion in 2017, at a 6.2% CAGR during 2018–2023. The implementation of the International Energy (IE) standards, in order to reduce the electricity consumption, is bolstering the demand for compliant motors. Currently, motors compliant with the IE3 standards are majorly used, but with the implementation of stricter standards, the demand for IE4-compliant variants is rising. 

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Presently, Asia-Pacific (APAC) is the most lucrative electric motor market, owing to its extremely high number of manufacturing plants, high population, and increasing urbanization rate. The requirement for heating, ventilation, and air conditioning (HVAC) equipment is surging in the region, not only due to the vast difference in temperature, as the year progresses, but also because people can afford them, thanks to their higher disposable income than before. Similarly, the sale of EVs is also surging, especially in China and Japan, on account of government support and concerns for the environment.

Hence, with the growth of industries and rising sale of EVs, the procurement of electric motors will also surge around the world.

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Temperature Sensor Market Analysis (COVID19 Impact): Industry Growth, Size & Future Scope

Due to the mushrooming uptake of automobiles, the demand for temperature sensors is increasing. In vehicles, the temperature of gases, liquids, and several systems is measured with sensors, so that the performance efficiency of automobiles can be maintained. With the rising sale of automobiles, particularly electric vehicles, the procurement of temperature sensors is growing.

Hence, the revenue generated in the global temperature sensor market, which stood at $6.9 billion in 2019, is projected rise at a CAGR of 4.4% between 2020 and 2030 (forecast period), to reach $11.1 billion by 2030. Additionally, these devices help maintain optimum fuel efficiency, which has been mandated by governments around the world.

Resistance Temperature Detector (RTD) to be Largest Category till 2030

Till 2030, the resistance temperature detector (RTD) category is predicted to continue holding the largest temperature sensor market share. This is because of these devices’ linearity, high accuracy, and stability and customizable attributes.

In 2019, the non-contact bifurcation generated higher revenue in the market, due to the decreasing prices of these variants and growing demand for them among end users across industries.

In 2019, Asia-Pacific (APAC) generated the highest revenue in the temperature sensor market, and the region would also display the fastest growth in the coming years. This is because of the fact that the sales of smartphones and automobiles are rising swiftly in China, India, and other regional countries, on account of the swift urbanization and increase in the disposable income of people. China is already the largest consumer of temperature sensors in the region and second largest in the world, following the U.S.

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New Products being Launched by Market Players to Consolidate their Position

The temperature sensor market competitive landscape is presently characterized by the various products being launched by companies, in order to dominate the competition. For instance, Heilind Electronics introduced the 5024 EGR temperature sensor developed by Sensata Technologies in February 2020. Offering stable performance up till 300 ⁰C, it works on the negative temperature coefficient (NTC) principle.

Similarly, STMicroelectronics N.V. unveiled the STTS22H temperature sensor, which is accurate up to 25⁰C, in November 2019. The sensor has been designed for shipping container loggers, heat flow monitoring in asset trackers, air humidifiers, heating, ventilation, and air conditioning (HVAC) systems, building automation systems, refrigerators, and smart consumer devices.

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Among the companies operating in the global temperature sensor market, the prominent ones are Honeywell International Inc., TE Connectivity Ltd., Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments Incorporated, ABB Ltd., Panasonic Corporation, Amphenol Corporation, STMicroelectronics N.V., Analog Devices Inc., On Semiconductor Corporation, and Robert Bosch GmbH.

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How are Growing Cases of Cancer Driving Genetic Testing Market?

The prevalence of diseases, including chronic and genetic diseases, is rising at a swift pace. According to the World Health Organization, a genetic disorder named sickle cell anemia is primarily common among people who had ancestors in India, South America, Central America, Sub-Saharan Africa, Mediterranean countries (including Greece, Turkey, and Italy), Cuba, and Saudi Arabia. In addition to this, the high prevalence of chronic diseases, such as cancer, is also affecting millions of people all around the world. There are still several genetic and chronic diseases for which no cure has been developed yet.

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Because of this, the research & development activities in the healthcare industry are on a rise. Furthermore, the adoption of genetic testing in the industry is increasing as well, since it can reveal changes in genes which may cause disease. Genetic testing involves the examination of DNA, which is the chemical database carrying instructions of the body. While advancements still need to be made in the domain, genetic testing has the potential to provide necessary information for treatments, diagnoses, and prevention of illnesses. Therefore, the surging incidence of genetic diseases and cancer is expected to result in the growth of the genetic testing market in the years to come.

Geographically North America has been the largest genetic testing market, which can be attributed to the availability of technologically advanced products, increased government funding, and presence of a large number of academic and research institutes in the region. Other than this, the demand for genetic testing in the Asia-Pacific region is also expected to grow considerably in the near future. This is because of the increasing awareness about the advantages of predictive testing, and rising adoption of advanced technology for clinical applications.

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Hence, the demand for genetic testing is growing on account of surging prevalence of cancer and other chronic and genetic diseases.

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Business Impacts of COVID-19 on Smart Water Meter Market | Strategies of Major Industry Competitors

P&S Intelligence published a new research report, titled, “Smart Water Meter Market: Global Industry Analysis and Forecast till 2030, the market is developing with double digit owing to increasing demand for ideal utilization of water. The non-revenue water is one of the real difficulties for the water utilities as well as governments. The surging water emergency additionally lifts the interest for a reasonable arrangement towards water management. Water utilities are the real customers of smart water meter and it is expected to lead the market amid the gauge time frame.

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This is because of their requirement of channelizing the delivery modes of substantial measure of water. The government in different nations are taking activities to enhance water framework with the installation of smart water meters. Smart water meter market is expected to grow at 11.1% CAGR during 2016-2025. The demand for advanced metering infrastructure (AMI) has been developing at a steady pace and is expected to give further growth opportunity to the smart water meter industry.

The vast majority of this demand is expected to originate from water utilities as they have bigger spending plans when contrasted with industrial and residential sector consumers. The application of smart water meters incorporates water utilities, industrial and residential buyers. Water utilities give water to habitations and ventures and bear most of the loses acquired because of spillages, burglary or mistaken metering. This reason makes them the largest consumer of this market and they are expected to hold their strength during the forecast period owning to metering up gradation plans of several water utilities around the world.

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This market research report provides a comprehensive overview of the smart water meter market

• Historical and the present size of the smart water meter market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Carsharing Market is to Reach $10,846.9 million by 2025 - P&S Intelligence

Due to the increasing concerns raised over the greenhouse emissions and environmental damage caused by the large number of vehicles operating on the roads, carsharing services are being increasingly adopted across the globe. In addition to this, the governments of many countries are rapidly adopting various policies and measures for reducing the private ownership of vehicles in order to curtail the environmental damage and greenhouse gas emissions caused by the exhaust fumes from vehicles, which is in turn, boosting the popularity of carsharing services.

Driven by the above-mentioned factors, the valuation of the global carsharing market is expected to increase from $5,571.2 million in 2018 to $10,846.9 million by 2025. The market is predicted to advance at a CAGR of 11.0% during the forecast period (2019—2025). There are mainly three types of cars used in carsharing services— luxury, executive, and economy. Amongst these, the economy class cars recorded the highest adoption in carsharing services in 2018. This is credited to the higher fuel economy provided by these cars as compared to the luxury and executive vehicles. 

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Asia-Pacific (APAC) is currently the largest carsharing market, majorly on account of the strong government support for such a transportation system, especially in China. In this country, the number of electric cars in shared mobility fleets has drastically risen in the last few years. Being one of the most industrially productive, and therefore polluted, countries on earth, China is taking concrete steps to increase the penetration of electric vehicles, including among car sharing companies, such as offering subsidies, tax rebates, and monetary incentives for their purchase.

Hence, as the realization about the fact that shared mobility can potentially reduce the number of automobiles on the road increases, carsharing services are bound to become more popular than ever in the coming years.

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Global Smart Teaching and Learning Market Predicted to Exhibit Huge Growth During Covid-19 Phase

Owing to their cost-effectiveness, smart teaching and learning solutions are observing a rising popularity across the globe. The initial investments are much lower in traditional forms of education, than in e-learning. However, once the systems and courses are developed, smart learning and teaching solutions do not incur further costs, which is not the case in traditional education, where various additional expenses, such as regular trainer salaries and infrastructure costs, are incurred.

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The burgeoning demand for learning analytics applications in academic and corporate sectors is another factor propelling the adoption of smart teaching and learning solutions across the world. The analytical applications allow the users to obtain accurate predictions about the outcomes of reformation, learning, and resources, and this, in turn, encourages the participation of all stakeholders in the various learning and combining processes, in order to achieve the educational objectives.

Due to these factors, the global smart teaching and learning market is expected to exhibit huge growth in the coming years. Since the last few years, there has been a massive rise in the adoption of advanced technologies that have helped in the transformation of education and teaching processes, from the traditional classroom-based methods, to smart learning processes incorporating the use of remote and digital learning methods.

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There are multiple methods of smart teaching and learning, such as collaborative, simulation-based, and adaptive, blended, and virtual instructor-led training (VILT). In the smart learning and teaching environment, the course content is available in the form of text, video, and audio, and this can be accessed through different applications.

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Cyber Insurance Market Analysis, Post COVID-19 Impact | Potential Business Impacts for Key Players

One of the major factors resulting in the growing adoption of cyber insurance across different industries is the supply chain cyber risk. The impact on an organization or enterprise is quite huge if the sensitive data of supply chain is breached. The loss of consumer confidence, drop in stock price, business experience financial penalties, and legal cost are some risks faced by businesses due to supply chain breach.

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Hence, in order to deal with this problem, cyber insurers have developed several ways for combating supply chain risks by adapting to the changing environment through supply chain risk management services. This includes several risks involved in supply chain that are constantly assessed and managed timely. The increase in denial of service (DoS) attacks is a key trend that is being observed in the cyber insurance market. 

The victims of these attacks range from major financial institutions to individuals attempting to access their personal email. Considerable damage has been caused by these attacks, in terms of revenue loss. Cyber insurers aid businesses in reducing the risk of such attacks by monitoring the global threat landscape and understanding the latest trends in the DoS attacks. Coverage for business interruptions, extra expense, and contingent interruptions losses, such as loss due to network host or cloud provider, is provided by first-party cyber insurance policies.

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Since the past few years, a rapid increase in criminalization of the internet has been tracked by cyber analysts. Factors such as commercialization, globalization of cybercrime, and interconnectivity are driving the frequency and severity of cyber incidents. In addition to this, individual cyber criminals are uniting into international groups for strengthening the impact of their attacks on critical and sensitive business data.

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