How is Growing Preference of Herbal Personal Care Products Driving Demand for Neem Extract?

 The demand for personal care products has been soaring these days all across the globe. As people are now extremely conscious regarding their physical appearance, they are increasingly investing in personal care products that can aid in enhancing their aesthetic appearance. Moreover, the increased disposable income of people, thanks to the strong economic growth, in various countries is also resulting in the increasing demand for personal care products. These day the demand for herbal personal care products has been rising as well, since people are getting increasingly aware regarding the side-effects of cosmetics.

Several skin and hair care products contain chemicals that can prove harmful for the human body. Owing to this, the demand for neem-based products has increased substantially over the past few years, thereby resulting in the growth of the global neem extract market. Other than this, the preference for Ayurvedic medicines has also been rising in various parts of the world. For example, while the popularity and easy availability of allopathic medicines increased considerably in India a few years back, now the focus is again shifting towards Ayurveda, which is further resulting in the increasing demand for neem extract. 

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Neem contains various chemicals which are capable of reducing blood sugar levels, preventing pregnancy, healing ulcers in the digestive tract, killing bacteria, and preventing the formation of plaque in the mouth. Owing to such advantages, the plant is widely utilized as a natural and home remedy for taking care of several ailments. In addition to all this, the plant also has antioxidant properties and can help in protecting the skin from pollution, harmful ultraviolet radiation, and other environmental factors. The presence of fatty acid and vitamins in neem also helps in maintaining and improving the elasticity of skin and in reducing fine lines and wrinkles.

It is because of all these factors that the global neem extract market is predicted to generate a revenue of $1,868.2 million by 2022, progressing at a 16.3% CAGR during the forecast period (2016–2022). On the basis of segment, the market is categorized into bark extract, seed extract, and leaf extract, among which, the bark extract division is projected to witness the fastest growth during the forecast period. This can be ascribed to the rising requirement for bark extract from the Asia-Pacific (APAC) region.

In terms of application, the neem extract market is divided into animal products, agriculture, and health & personal care, out of which, the animal products division is expected to account for the highest CAGR during the forecast period. This is due to the rising requirement for herbal animal food from countries including Brazil, the U.S., and France. Geographically, the APAC region dominated the market in the past, according to a report by P&S Intelligence. This was primarily because of the presence of the major Ayurvedic companies in the region that consume the product on a large-scale.

In conclusion, the demand for neem extract is growing due to the increasing demand for herbal personal care items and focus towards Ayurvedic medicines.

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Popularity of UHT Milk Set to Soon Eclipse That of Regular Milk

 In recent times, there has been a steep rise in the popularity of UHT (ultra-high-temperature) processed milk all over the world. This is predominantly because of the lack of proper refrigeration space and equipment and long power outages in several countries around the world. Moreover, the high refrigeration costs in various other countries are pushing up the popularity of food items such as UHT milk that can last long without requiring refrigeration. Unlike regular milk which requires continuous refrigeration till consumption, this type of milk can be stored for as long as nine months without refrigeration.

The ability of the UHT milk to remain fresh for such a long period of time and without requiring continuous refrigeration makes it a highly popular food item, particularly in the developing countries that have a poor cold storage infrastructure. Additionally, the longer shelf life of the product is boosting its popularity amongst the people living in apartments, especially in the developing nations of the Middle East, Africa, and Asia-Pacific. Moreover, the rising adoption of busier lifestyles is fueling the consumer demand for ready-to-eat/drink items, which is, in turn, propelling the advancement of the UHT milk market across the world. 

In China, 60% of the total milk drinkers consume UHT milk these days, as per many reports and surveys. This share of UHT milk drinkers is predicted to rise further in the future years, mainly because of the rapidly increasing population of the country. The other major factors contributing to the surging sales of UHT milk are the increasing disposable income of people and the availability of affordable private-label UHT milk in numerous hypermarkets and supermarkets in several countries around the world.

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Because of the above-mentioned reasons, the consumption of UHT milk will increase tremendously in the coming years, which will, in turn, cause huge expansion of the global UHT milk market in the future. The market is categorized on the basis of segment into semi-skinned, skimmed, and whole. Out of these, the whole category recorded the highest volumetric growth in the market during the last few years. The largest consumers of whole milk were children in the age bracket (2 years and below). This is because this milk contains all the necessary nutrients required by a toddler for growing up properly.

Globally, the UHT milk market registered the highest volumetric growth in Europe in the years gone by, as per the findings of the market research firm, P&S Intelligence. This is ascribed to the high consumption of various dairy products and the high per capita consumption of milk in the Netherlands, Belgium, Germany, and several other European countries. In addition to this, the easier production and distribution of this milk in the European nations in comparison to the other countries led to huge sales of this milk in this region in the past few years.

Therefore, it can be said with surety that the requirement for UHT milk will rise enormously all over the world in the forthcoming years, mainly because of the longer shelf life of this milk than regular milk and the lack of proper refrigeration space and facilities in various countries across the world.

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Wearable AI Devices Market | Analysis, Post Covid-19 Impact | Potential Business Impacts for Key Players

The demand for AI-enabled voice assistance is gaining popularity, with voice assistance feature being integrated in them to support multiple functions. Such technology allows users to search through the web on the device with a voice command, related to the weather, news, reminders, scheduling appointments, making calls, reading messages, and much more. The wearable AI devices market is expected to advance due to the rapid demand for voice assistants in consumer electronics. North America held the largest share in the wearable AI devices market in 2018. 

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The wearable AI devices market was valued at $11,182.8 million in 2018, and it is projected to reach $49,240.6 million by 2024, witnessing a CAGR of 29.0% during 2019–2024 (forecast period). The market growth across the globe is primarily driven by the changing lifestyle of people, surging use of fitness bands and healthcare applications, and demand for next-generation smartwatches. Such devices are used by consumers to track their fitness level, via inputs in the form of heat, light, sound, and pressure.

It was mainly due to the strong presence of already established market players, such as Facebook Inc. and Apple Inc., in the region. The fastest wearable AI devices market growth is to be witnessed in Asia-Pacific (APAC) during the forecast period, driven by the growing demand for AI-integrated wearables, particularly in India and China, which is itself mostly owing to the increasing concerns for health and fitness. 

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The wearable AI devices market is a promising opportunity for the players to integrate the AI-enabled voice assistant technology in wearable devices. Thus, it is clear that the market will continue to grow substantially during the forecast period, as the demand for advanced consumer electronics, which performs multiple functions, rises.

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Booming Automobile Sales to Boost Demand for Automotive Electronics in Future

Automotive electronics are key components of automobiles and therefore, the mushrooming sales of automobiles are positively impacting the requirement for automotive electronics across the globe. According to many reports, automotive electronics nowadays account for nearly 35% of the total cost of an automobile as compared to their share of only 5% of the total price of a vehicle in 1970.

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Furthermore, as per the predictions of the industry experts, this share will grow to 50% by 2030, which will, in turn, lead to huge revenue generation from the sales of these electronics systems. In the recent times, there has been a drastic rise in the sales of automobiles throughout the globe, primarily because of the rapid growth of the automotive industry in several countries and the surge in the disposable income of the people, especially in the developing nations around the world. 

Globally, the Asia-Pacific (APAC) automotive electronics market will be very prosperous in the future, as per the forecast of P&S Intelligence, a market research firm based in India. Moreover, the sales of vehicles will push up in the future years, which will consequently boost the sales of various automotive components such as electronics. As per the findings of the Organisation Internationale des Constructeurs d'Automobiles (OICA), global vehicle sales increased at a CAGR of 1.8% between 2014 and 2018. The organization also found that 95.1 million automobiles were sold across the world in 2018.

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Furthermore, the growing popularity of electric and autonomous vehicles will lead to a sharp rise in the sales of automotive electronics in the coming years. Besides the burgeoning sales of vehicles, the growing requirement for efficient and safe automobiles is also fueling the worldwide demand for automotive electronics systems. The rising incidence of road accidents has considerably boosted the popularity of vehicles equipped with various safety systems such as advanced driver assistance system (ADAS).

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Speech Analytics Market Growth Rate, Developments In Major Areas, Market Size, Dynamics, Opportunities, & Forecast With Demographic Data Till 2030

In today’s competitive world, companies are finding it difficult to engage customers for the long-term. Due to many choices available to customers, it is being observed that they are no more brand loyal. Despite being provided with a better price and product quality, customers prefer buying products from competitors, if they face any service-related problems. Therefore, customer satisfaction, in terms of product-quality, pricing, and customer services, has become a major focus area for all businesses.

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Valuing $1,010.4 million in 2018, the speech analytics market is predicted to garner $2910.1 million, advancing a 19.9% CAGR in the coming years. The applications of the speech analytics software are risk & compliance management, agent performance monitoring, call monitoring, and customer experience management.

To enhance customer experience, companies are working to improve the customer retention rate and new customer acquisition process for higher product sales. One of the ways employed by business entities is the adoption of speech analytics software that helps in the monitoring and analyzing of all the attended calls.

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The software helps organizations evaluate the responses by agents as well as keep a track of changing demands of customers and gauge their level of satisfaction.Speech analytics software reviews and analyzes live customer calls and recordings to draw an analysis of overall customer experience, and help organizations in devising strategies for enhancing customer experience.

In 2018, the largest application area of this software was customer experience management. In fact, in the near future as well, it will continue being the largest application area of speech analytics software. This can be attributed to the rising need for the evaluation of the overall customer experience and further predict the customer satisfaction score to help companies improve their product and services sales.

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What are Key Factors Fuelling the Surge of Indian Advanced Driver Assistance Systems (ADAS) Market?

One of the biggest factors propelling the demand for advanced driver assistance systems (ADAS) in India is the rising incidence of road accidents in the country. Since the last few years, there has been a massive surge in the prevalence of road accidents and fatalities in the country, which have consequently boosted the need for the installation of ADAS in vehicles in order to improve vehicular safety. The Government of India (GOI) intends to make the integration of ADAS in passenger vehicles mandatory by 2022, in order to reduce the incidence of road accidents in the country.

The other important factors responsible for the surge in the demand for ADAS in India are the soaring disposable income of people and the increasing demand for vehicles equipped with automated artificial intelligence (AI)-driven systems. Nowadays, people are preferring vehicles equipped with various types of advanced systems, mainly on account of their higher purchasing capability and the rapid technological advancements in the automotive sector. Driven by these factors, the Indian advanced driver assistance systems market is predicted to witness rapid growth during the forecast period (2020–2030).

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There are multiple types of advanced driver assistance systems incorporated in vehicles — drowsiness monitoring system (DMS), adaptive cruise control system (ACCS), tire-pressure monitoring system (TPMS), blind spot detection system (BSDS), adaptive front-lighting system (AFLS), lane departure warning system (LDWS), parking assist system (PAS), and various other types of driver monitoring and night vision systems. Amongst these, BSDSs and ACCSs are predicted to observe wide-scale adoption in vehicles during the forecast period. The AFLS is anticipated to register the fastest growth in demand during the forecast period. 

There are different types of sensors used in the advanced driver assistance systems, namely infrared sensors, image sensors, radar sensors, ultrasonic sensors, laser sensors, and light detection and ranging (LiDAR) sensors. Out of these, the LiDAR sensors are predicted to record the highest growth in demand during the forecast period. In addition to this, the radar sensors are expected to register the highest sales amongst the different types of sensors, during the forecast period. 

The biggest trend currently being observed in the Indian ADAS market is the increasing number of technical collaborations amongst the major automobile and ADAS manufacturing companies. These collaborations are being formed mainly in order to meet the surging technology demands in the country. Moreover, the rapid technological advancements are significantly boosting the need for enhanced safety and comfort features in vehicles, which is in turn, propelling the demand for vehicles equipped with ADAS, in the country. For instance, Mando Corp. signed a contract for the supply of ADAS, with Mahindra & Mahindra Ltd. in April 2019. 

Hence, it is clear that owing to the increasing prevalence of road accidents in the country and the rising disposable income of the people, the demand for ADAS is expected to shoot-up in India over the next few years.

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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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