Tire Mold Market Trend, Growth Opportunities Created by COVID19 Outbreak

P&S Intelligence published a new research report, titled, “Tire Mold Market: Global Industry Analysis and Forecast till 2030, Tire molding is the process of shaping raw rubber structure into a functional tire of specified dimensions and properties. The process includes designated pressure for the green tire in a mold to give it final shape, and heat energy to stimulate the chemical reaction between the rubber and other materials. The global tire mold market is expected to witness considerable growth during the forecast period (2020–2030), on account of rise in automotive ownership pattern, industrialization, population growth, and urbanization.

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The tire mold market on the basis of product is classified into segmented molds, and two-piece molds. Between these, the two-piece mold category dominated the market during the historical period (2014–2019), owing to the ease of operation and lesser complexity. Whereas, the segmented mold category is projected to witness faster growth during the forecast period, owing to higher efficiency in curing and molding of green tires.

The burgeoning demand for tire molds is attributed to increasing global sales of automobiles and tire replacement rate in vehicles. Tires are also considered a necessity for a heavy and oversized object to be portable. The increase in portability of objects has driven a considerable demand for the tires and subsequently tire molds. Recent growth in transportation, logistics, and mobility sectors is another major push for the tire mold market.

Global Tire Mold Market Size Breakdown by Segment
Based on Product
Segmented Molds
Two-Piece Molds

Based on Application
Passenger Car Radial (PCR)Tires
Truck & Bus Radial (TBR)Tires
Off-The-Road (OTR)Tires

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Global SD-WAN Market Revolutionary Trends in Industry Statistics by 2023

SD-WAN refers to a technology that automatically distributes the network traffic across a wide area network (WAN) and thus provides efficient connection between branch offices and data center sites separated by large distances. Unlike conventional WAN, SD-WAN offers secure and reliable cloud-enabled WAN connections. Additionally, the SD-WAN technology has the ability to provide simple, secure, and affordable cloud-based solutions to the global enterprises, which further make it highly sought-after.

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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.

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.

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Depending on appliance, the SD-WAN market is categorized into physical, virtual, and hybrid. Amongst these, the virtual category had the largest market share in 2017, and this category is also expected to hold the largest market share during the forecast period. The main reason behind this category’s market domination is the fact that virtual SD-WAN appliances don’t require hardware components, which reduces their installation and configuration costs. In addition to this, these appliances also allow remote maintenance.

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Revenue Explosion Predicted in Global Voice Assistant Market From 2020 to 2030

Valued at $1,723.6 million in 2019, the global voice assistant market is predicted to attain a valuation of $26,872.6 million in 2030. The market is also expected to advance at a CAGR of 29.7% from 2020 to 2030, according to the estimates of P&S Intelligence, a market research firm based in India. 

The main factors driving the progress of the market are the soaring requirement of contact centers and the increasing demand for higher customer experience across the world. In many contact centers around the world, voice assistant technology is being increasingly adopted for assisting customers and providing an enhanced customer experience. 

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This technology is basically based on the natural language processing (NLP) technology, that enables interaction between humans and systems and offers real-time query solving to the users. Voice assistants assist contact centers in data gathering regarding customer opinions, purchasing habits and patterns, and preferences. 

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This data is then analyzed with the help of this technology, which subsequently allows businesses to offer customized product recommendations and experience. Additionally, the integration of voice assistant technology in business operations improves the customer engagement levels, which, in turn, enhances the overall customer experience. The customers conducting voice searches expect quick and relevant solutions from the organizations. 

The voice assistant technology analyzes the received input and helps the customers in getting quick answers to their queries, which, in turn, improves the overall customer experience. Furthermore, many companies, across multiple verticals, are increasingly collaborating with various voice assistant solutions providing organizations for enhancing the customer engagement and satisfaction levels. 

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How is Rising Penetration of Internet Driving Medical Device Connectivity Market?

As the penetration of internet is increasing across the globe, almost all industries are taking advantage of internet of things for providing better services to their customers. Similarly, the adoption of connected medical devices in the healthcare industry is growing as well. The demand for improving the quality of care in medical settings is growing as well, since the number of patients is surging all across the globe. In addition to this, there is a pressing need for decreasing healthcare cost, due to which, the demand for enhanced services is increasing.

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Ascribed to these factors, the global medical device connectivity market is expected to advance at a substantial rate in the coming years. Medical device connectivity help in analyzing data, which is important in the healthcare industry due to the growing utilization of telehealth solutions. The demand for medical device connectivity services is predicted to rise significantly in the near future, owing to the growing need for maximum consumption of connectivity solutions by users, surging implementation of healthcare information exchange system, rising regulatory demand for healthcare reforms, and increasing requirement for effective implementation.

Medical device communication also saves time of organizations on lengthy repairs by providing information regarding when preventive maintenance measure need to be taken. Geographically, North America is expected to emerge as the fastest-growing medical device connectivity market in the coming years. This is because of the surging requirement for eHealth solutions, rising funding for advancements in the medical sector, better accessibility to technologies, and rising government focus on the quality of care in the region.

In conclusion, the demand for medical device connectivity is growing due to the need for remote patient monitoring and reducing the cost of healthcare.

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E-Bike Market to be worth $25.9 billion by 2025

The increasing pollution levels caused because of the large-scale usage of conventional fuels-powered vehicles and bikes are making the people switch to eco-friendly modes of transportation such as e-bikes. Additionally, the governments of several countries are increasingly implementing various incentives and policies such as subsidies or discounts on the prices of e-bikes, for promoting their adoption in the transport fleets. For instance, the Swedish government launched a subsidy of up to nearly $1,119 (or 25%) on the purchase of an e-bike for the following three years.

Due to this subsidy, there was a huge rise in the sales of e-bikes in Sweden, from more than 67,000 units to over 100,000 units from 2017 to 2018”. Besides the government subsidies, the increasing road congestion in urban areas and major cities and rising popularity of low-speed electric vehicles such as the pedal-assist e-bikes, especially for traveling short distances are the other major factors fuelling the sales of e-bikes across the world. These pedal-assist bikes also serve as good alternatives to cycling and are thus, becoming very popular amongst the ageing population.

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The above-mentioned factors are predicted to cause the growth of the global e-bike market, in terms of value, from $14.4 billion to more than $25.9 billion from 2019 to 2025, as per the forecasts of P&S Intelligence, a market research organization based in India. The market is also expected to demonstrate a CAGR of 10.3% from 2020 to 2030. E-bikes are mainly used for personal commuting purposes and in bike sharing services and systems. Between the two, the personal ownership of these bikes was observed to be higher in 2019.

Geographically, the North American e-bike market will exhibit the fastest growth over the next few years. This is predominantly credited to the surging popularity of these bikes for short-distance commuting and trekking purposes amongst the people of various North American nations. In addition to this, the adoption of shared e-bikes is increasing at a lightening pace in North America, which is, in turn, boosting the demand for e-bikes in the region.

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Hence, it can be said with conviction that the demand for e-bikes in market will surge all over the globe in the forthcoming years, mainly because of the increasing pollution levels and the rising enactment of favorable government incentives and policies in many countries around the world.

 

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Enterprise Asset Management Market Analysis, Post Covid-19 Impact | Potential Business Impacts for Key Players

One of the major driving factors of the Enterprise Asset Management Market is the surging adoption of EAM for efficient utilization of assets. The organizations make use of asset turnover ratio, which is the ratio of sales and price of assets, for the calculation of company’s productivity and efficiency. Hence, in order to increase the ratio, the company simply needs to grow its sales as compared to the price of its assets. The utilization of EAM enables the decision-makers to compare expected billing amounts and invoice and detect unusual activity to prevent fraud and reduce waste.

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Another factor driving the EAM market is the rising need for reduction in management and procurement expenses. EAM solutions and services can reduce maintenance costs by giving better information on capital investment decisions, closely tracking operation, and integrating the procurement to maintenance jobs for effective control of equipment. Furthermore, EAM aids in reducing operation costs by decreasing procurement of material cost, increasing project return on investment, and reducing maintenance cost. Because of these factors, businesses are optimizing their operating costs by making use of EAM software.

A major trend being observed in the EAM market is the rising integration of internet of things (IoT) with EAM solutions. IoT devices are increasingly being utilized in EAM for providing real-time data to the EAM system, which provides significant insights to the user. Because of this, the businesses can maintain, manage, and supervise their assets in real-time. Moreover, integration of IoT with EAM provides potential process control modifications, identification of performance non-conformities, and repair as well as replacement opportunities.

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This market research report provides a comprehensive overview of the AR and VR 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
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

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Hybrid and Electric Vehicle Battery Market to Grow because of Technological Advancements

As more and more people are becoming aware regarding the negative impact of petroleum and diesel-based vehicles on the environment, the adoption of electric vehicles (EV) is rising. In addition, governments of different countries are playing a significant role when it comes to encouraging the adoption of electric vehicles by offering tax rebates, subsidies and grants, and other such financial benefits to people who purchase electric vehicles. In 2019, 3,269,671 units of electric vehicles were sold, and the number is predicted to reach up to 26,951,318 units by 2030. The market for electric vehicles is expected to grow at a 21.1% CAGR during 2019–2030. 

The hybrid and electric vehicle battery market is predicted to grow a significant pace in the years to come. The two major types of batteries which are used in EVs are nickel-metal hydride (NiMH) and lithium-ion (Li-ion). The larger demand in the coming years is predicted to be created for Li-ion batteries, which is majorly attributed to the lesser weight, greater energy density, and declining prices of these batteries. Furthermore, the shift toward lithium-nickel-manganese-cobalt oxide batteries is also rising because of the growing demand for electric passenger cars which can be driven for longer distance on a single charge. 

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When geographic scenario is taken into consideration, the Asia-Pacific (APAC) region is projected to emerge as the largest hybrid and electric vehicle battery market in the near future instead of North America. This is particularly ascribed to the presence of a large number of battery producers in Japan, China, and South Korea, thereby resulting in the low prices of batteries in APAC as compared to other regions. In addition to this, the availability of essential raw materials, including cobalt and lithium, in the region is also positively affecting the domain. 

Hence, the demand for electric vehicle batteries is rising because of the technological advancements in Li-ion batteries and growing adoption of EVs.  

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