What are Major Factors Fuelling Surge of Global Organ-On-Chip Market?

 One of the biggest factors propelling the demand for organ-on-chip is the increasing number of investments being made in research by the governments of several countries all around the world.  For instance, the National Center for Advancing Translational Sciences (NCATS) gave a research grant worth $2 million to Emulate Inc. in July 2017, in order to allow the company to leverage its human Brain-Chip system and create a fully automated research platform for conducting experiments on the International Space Station.

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The other major factor responsible for the rising demand for organ-on-chip is the increasing need for alternatives to the conventionally used animal models in research activities. In many countries, doctors and medical researchers are raising concerns over the scientific validity and translatability of the animal alternatives of human diseases and this is massively boosting the demand for alternative drug and diseases research techniques. The increasing initiatives being taken by the pharmaceutical companies for promoting the adoption of organ-on-chip models are expected to further push the demand for organ-on-chip based research methods in future.

Driven by the above-mentioned factors, the global organ-on-chip market is predicted to advance at a 40.1% CAGR during 2018–2025 (forecast period). The valuation of the market is expected to rise from $11.0 million in 2017 to $163.1 million by 2025. Organs-on-chips are essentially tiny models of body parts, which can simulate the functioning of the real thing. These products are used in various applications, such as physiological model development, toxicology research, and drug discovery. Amongst these, the drug discovery applications are expected to record the fastest growth in the usage of organ-on-chip products during the forecast period.

Hence, it can be concluded that owing to the surging investments in advanced technologies and research methods in the healthcare industry and the shifting focus toward alternative testing models in drug discovery and disease research processes, the demand for organ-on-chips will increase considerably in the coming years.

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Tire Mold Market Set to Exhibit Tremendous Growth in Future

 As the spending power of people across the globe is increasing, the production of vehicles is rising as well. Now due to urbanization and economic growth, people in developed and developing countries are able to spend money on luxury items, such as cars. In addition to this, because of technological advancements, vehicles themselves have become more affordable. It is because of all these reasons that that the production of vehicles is growing worldwide. For example, approximately 92 million vehicles were produced globally in 2019. Among the major producers of cars, namely China, Germany, and Japan, China produced the largest number of cars, i.e. 21.3 million cars, in 2019.

There is no doubt about the fact that this growing production of vehicles is creating an increasing demand for different automobile components, including tires. This, in turn, is driving the demand for tire molds around the world. Under the tire molding process, raw rubber structure is shaped into a functional tire having specified properties and dimensions. A designated pressure is required for the green tire in a mold in order to provide it the final shape. Furthermore, heat energy is needed for stimulating the chemical reaction between rubber and other materials. The global tire mold market is expected to progress at a substantial pace in the coming years.

Two types of tire molds are two-piece and segmented molds, between which, the demand for two-piece tire mold was higher in the past. This is because of the lesser complexity and easier operation of these tire molds as compared to segmented molds. However, this being said, the demand for segmented tore molds is projected to increase considerably in the near future, which is due to the higher efficiency in molding and curing of green tires with these molds.

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The different applications of tire molds include off-the-road (OTR) tires, passenger car radial (PCR) tires, and truck & bus radial (TBR) tires. Out of these, the largest demand for tires molds was generated for PCR tires in the past, which can be attributed to the emerging trend of increasing automotive ownership. Other than this, the demand for tire molds for TBR tires is also predicted to increase in the years to come due to the rising demand for logistics and transport sectors.

When geography is taken into consideration, the Asia-Pacific region emerged as the largest tire mold market in the past, which is owing to the high number of vehicles in the region and mature automotive manufacturing industry in China. In addition to this, a large number of key tire manufacturers are operating in the region. Other than this, the demand for tire molds in North America is also expected to grow considerably in the years to come because of the recent restrictions on trade from China.

In conclusion, the growing automobile ownership and increasing disposable income of people is driving the demand for tire molds across the globe.

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Rising Demand for Seamless Video Streaming to Boost Development of Edge Data Centers in Future Years

Edge data centers are the facilities that provide cached content and cloud computing resources to the end users. These facilities are situated close to the people that they serve and usually connect to a bigger central data center or multiple data centers. These centers help organizations mitigate latency and provide a greater user experience by processing data and other services closer to the end users. 

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Moreover, the processing of data so close to the end users reduces the load time of webpages, which, in turn, improves the ranking of the website, thereby generating more revenue for the organization. In recent times, these facilities have become incredibly important, on account of the increasing mobile data traffic all over the world. 

The rising penetration of smartphones and various internet of things (IoT) systems is a key factor responsible for the growing mobile data traffic around the world.Besides the increasing volume of data being generated throughout the world, the surging over-the-top (OTT) traffic is also boosting the demand for edge data centers across the globe. 

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According to a report published in February 2019 called the Cisco Visual Networking Index: Global Mobile Data Traffic Forecast Update 2017–2022, “the mobile data traffic has been estimated at nearly 26.8 exabytes per month in 2019, and it is predicted to reach over 77.5 exabytes per month by 2022”.

The main reasons behind the soaring OTT traffic are the increasing consumer preference for online content and the growing requirement for OTT services in several countries. According to Cisco, “the global internet protocol (IP) video, gaming and multimedia streaming traffic is estimated to reach more than 81% of all internet traffic by 2021, from 75% in 2019”.

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Automotive Aftermarket Revolutionary Trends in Industry Statistics

Due to the increase in the average age of vehicles, the demand for replacement components is expected to surge in the coming years, especially in emerging economies, such as those in Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA). For instance, the average age of the vehicles is predicted to increase from four years to six years in China from 2010 to 2020, mainly due to huge improvements in the quality of the automobiles being manufactured, which is itself a result of the rapid adoption of advanced products.

The other major factors pushing the demand for automotive parts across the world are the burgeoning demand for electric vehicles, on account of the increasing implementation of government policies and regulations promoting the adoption of eco-friendly modes of transportation. Moreover, there has been a huge rise in green consciousness throughout the world since the last few years, which is boosting the popularity of electric vehicles. Fuelled by the above factors, the global automotive aftermarket is expected to grow from $803.22 billion in 2019 to $1,370.17 billion in 2030, with a CAGR of 5.07% during the forecast period (2020–2030).

Automotive aftermarket parts refer to the replacement parts incorporated in vehicles after their sale to the consumers; these parts may or may not be made by the original equipment manufacturers (OEMs). The major types of automotive components requiring replacement are engine parts, suspension and braking parts, electrical parts, equipment, drive transmission and steering parts, and miscellaneous parts. Amongst these, engine parts, owing to the strict government policies regarding vehicular emissions, recorded the highest demand for replacement during the historical period (2015–2019).

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Automotive aftermarket components are available via two distribution channels, namely offline and online distribution channels. Of these, the volume of automotive components procured through offline distribution channels was higher during the historical period, as compared to the ones available through online distribution channels. This was mainly due to the easier availability of original equipment suppliers (OES) and independent repair/replacement/maintenance services by service providers. Moreover, these service providers offer quick, cheap, and customized services, which help in the easier maintenance of vehicles.

The biggest rage currently being witnessed in the automotive aftermarket is the rising number of joint ventures amongst the major vehicle manufacturing companies, vehicle repair service providers, and other stakeholders. This allows the major companies to transfer the vehicle manufacturing technology to the smaller service providers, manufacture new aftermarket devices, and penetrate the markets of developing nations. For instance, DENSO CORPORATION and Smiths Manufacturing (Pty.) Ltd. announced a joint venture in July 2019, named DENSO Sales South Africa (Pty.) Ltd., in order to sell various aftermarket products and services in South Africa.

Geographically, the highest demand for vehicle component replacement was observed in Asia-Pacific (APAC) in 2019, and this trend is set to continue during the forecast period. This is primarily ascribed to the rapid rise in the number of vehicles in operation (VIO), especially in China and India. Moreover, the presence of major companies supplying automotive aftermarket components in APAC is predicted to further fuel the rise in the demand for these components in the region.

Therefore, it can be concluded that owing to the increasing sale of automobiles in various countries across the world, the demand for aftermarket components is expected to witness substantial growth in the coming years.

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How are Rising Research & Development Activities Driving Demand for Protein Assays?

As the prevalence of diseases across the globe is increasing, the demand for effective drugs and treatments is growing as well. This is leading to the increasing number investments in the pharmaceutical & biopharmaceutical research & development (R&D). As per a publication by the Pharmaceuticals Research & Manufacturers of America, about $58.8 billion were spent by the member organizations of PhRMA on R&D activities, and the amount was the highest contribution to the biopharmaceutical R&D spending in the U.S. in 2015. A number of research and development activities in the pharmaceutical and biopharmaceutical industry make use of protein assays, which is leading to their increasing demand.

These products are used in life science research for detecting the presence of protein in a sample, which is crucial for electrophoresis, atomic science, protein cleansing, cell science, and research applications. A wide variety of protein assays are available, however, it is important to consider their suitability for a specific application before usage. Each assay is characterized by some advantages and limitations, and it is not rare to obtain more than one assay for several research applications. As per a report by P&S Intelligence, the global protein assay market size is expected to advance at a significant pace in the years to come.

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Geographically, North America emerged as the largest protein assay market in the past, which can particularly be attributed to the increasing investments in the pharmaceutical & biopharmaceutical industry. Apart from this, the demand for protein assays is also expected to increase considerably Asia-Pacific, majorly in India, China, and Japan, in the coming years. This is because of the rising R&D spending in the life science industry and growing funding by several private and government organization for proteomic research.

In conclusion, the demand for protein assays is growing due rising expenditure in pharmaceutical and biopharmaceutical industry.

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U.S. Electric Truck Market 2020: Emerging Trends, Revenue Estimation, Global Size and Forecast Report to 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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Demand for Shower Glass Doors to Rise in Asia-Pacific

The world has changed a lot since the past few years and with it the priorities of people have changed as well. Since items that were once considered luxurious are now available at cheaper prices, along with the rise in the disposable income of people, the demand for products such as shower glass door has increased. These doors are fixed in bathrooms for preventing water from coming outside the bathtub or the shower. Shower glass door further increase the aesthetic appeal of washroom, which is why they are widely being used in modern washrooms.

Due to all these factors, the global shower glass door market is predicted to register considerable growth in the years to come. The rapid urbanization across the globe is also a major factor that has led to the rising demand for shower glass doors. People are increasingly migrating from rural to urban areas, as a number of facilities are available at such places. This is further resulting in the growth of the real estate industry, as a larger number of people are now looking for personal houses. The growth of the real estate industry is positively affecting the demand for shower glass doors.

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These days, shower glass door are also available at online platforms, which is why people can get these products easily. The surging penetration of internet and smartphones is leading to the growing adoption of online retailing platforms all across the globe. Online retailing channels are becoming the key distribution channels for home improvement and decoration items, such as shower glass doors. The rising penetration of this distribution channel is further opening up wide opportunities for the new companies entering in the domain, thereby leading to the growth of the shower glass door market.

When type is taken into consideration, the market is divided into framed and frameless, between which, the frameless category held the larger share of the market in the past and is further expected to contribute the largest revenue share to the market in the coming years as well. This is due to the fact that frameless heavy shower glass doors are considered a contemporary design trend. These doors provide bathrooms with a luxurious and spacious look, owing to which, people are increasingly opting for these doors.

Frameless shower glass doors are further ideal for small bathrooms, as they take less space than framed shower glass doors. These doors are further made up of denser materials, which means that the number of elements that may break is lesser than that of framed shower glass doors. Geographically, Asia-Pacific is projected to register the fastest growth in the shower glass door market in the coming years, as stated in a report by P&S Intelligence. This is because of the rising awareness regarding brands and increasing preference for high-end products in the region. In addition, the improving economic situation of various countries in the region is also driving demand for these products.

In conclusion, the demand for shower glass doors is growing due to the rapid urbanization and increasing disposable income of people.  

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