Rising Medical Tourism Driving Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market

This is due to the rising medical tourism, awareness about the safe use and advantages of anti-aging and skin rejuvenation energy-based aesthetic devices, geriatric population, and inclination toward minimally invasive aesthetic treatments. These devices are utilized for performing various virtually painless, fast, and non-invasive or minimally invasive aesthetic treatments by making use of different energy-based technologies.

On the basis of technology, the anti-aging and skin rejuvenation energy-based aesthetic devices market is divided into light-based, ultrasound-based, laser-based, electromagnetic energy-based, and plasma energy-based. Out of these, the laser-based technology accounted for the major share of the market (28.3%) in 2018 as it is increasingly being adopted for performing different aesthetic treatments for skin rejuvenation, signs of aging, and other applications. Attributed to these factors, the division is also expected to dominate the market during the forecast period.

When application is taken into consideration, the anti-aging and skin rejuvenation energy-based aesthetic devices market is categorized into fine lines & wrinkle reduction, oxygenation, skin tightening, and scar treatment. Among these, the largest share of the market was held by the category of skin tightening during the historical period (2014–2018). This was because of the increasing geriatric population, as aging results in the reduction of collagen in the skin, and anti-aging and skin rejuvenation energy-based aesthetic devices can be useful for treating the sagginess of the skin.  

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One of the primary factors driving the growth of the anti-aging and skin rejuvenation energy-based aesthetic devices market is the rising medical tourism. The medical industry has been growing rapidly due to globalization and rising awareness among people regarding alternate options for surgical aesthetic treatments. It has been observed over the last few years that patients from developed nations travel to countries such as South Africa, Singapore, Thailand, India, Turkey, Mexico, and Costa Rica for seeking treatment. This is majorly because the treatment offered in these countries is cheaper than in developed countries.   

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Coronavirus Business Impact – Battery Management System Market In-depth Analysis of the Industry with Future Estimations

The rising demand for electric vehicles (EVs) across the globe, on account of the increasing government policies and measures supporting the deployment of eco-friendly vehicles, is one of the major factors powering the sale of battery management systems (BMS) throughout the world. For instance, New Zealand joined the global EV initiative in 2018 that has put the country alongside the top electric vehicle markets.

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Additionally, the country plans to transition from fossil-fuel-powered transport to that running on clean and renewable electrical energy, over the next few decades. As a result, the battery management system market is expected to progress at a CAGR of 14.5% during the forecast period (2020–2030), at which its revenue would increase from $5.1 billion in 2019 to $22.3 billion by 2030.

The surging demand for renewable energy due to global warming is another important factor propelling the uptake of battery management systems across the world. As per the International Energy Agency (IEA), renewable sources of energy currently make up nearly 26% of the global electricity consumption, and it is set to touch 30% by 2024, which is driving the sale of lead–acid and lithium-ion batteries.

A BMS helps prolong the life of the battery by making sure it doesn’t operate above the maximum voltage and current, collecting and analyzing operational data, and monitoring its health. Lithium-ion (Li-ion), lead–acid, and nickel batteries are widely used across the world.

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Amongst these, the integration of BMSs was recorded to be the highest in Li-ion batteries in 2019. This is primarily ascribed to the burgeoning adoption of Li-ion batteries, on account of their numerous advantages, such as higher density, longer life cycle, and stronger resilience. These batteries are also predicted to register the fastest growth in BMS integration during the forecast period.

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Autonomous Commercial Vehicle Market Future Trends, Prominent Players, Industry Impact and Forecast by 2030

 Vehicles have certainly made the lives of human being easier, however, the technology has certain drawbacks as well, one of which is the increasing number of road accidents. The major cause of road accidents is human error, since drivers often fail to pay attention properly, drive vehicles at inappropriate speed, and fail to keep safe distance from vehicles moving in front. It is ascribed to such factors that the need for enhancing safety on roads and requirement for safer and more efficient driving option has been surging rapidly across the globe.

This, in turn, is resulting in the growth of the autonomous commercial vehicle market, since the autonomous technology offers safer performance. In addition to this, the evolution in connecting vehicle technologies has also been leading to the growing demand for autonomous commercial vehicles. It is much easier to integrate autonomous technologies in connected vehicles as compared to traditional vehicles. Connected cars are being equipped with vehicle-to-interface and vehicle-to-vehicle connectivity, which are the key requirements for achieving autonomy of vehicles. This rising digitization in the industry is expected to result in the growth of the domain.

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Number of investments are being made for developing autonomous commercial vehicles, which is predicted to further the growth of the market. For example, Volkswagen AG made an announcement regarding investing $34 billion research & development of autonomous technologies in 2018. Similarly, the French government invested more than $45 million in 2018 for boosting the development of autonomous vehicle technology. Governments of several other countries are also investing extensively for developing autonomous driving technologies, which is expected to result in the growth of the market in the years to come.

According to a report by P&S Intelligence, the global autonomous commercial vehicle market size is expected to progress at an 8.2% CAGR during the forecast period (2020–2030). In terms of vehicle autonomy, the market is bifurcated into semi-autonomous and fully-autonomous. Between which, the semi-autonomous bifurcation held the major share of the market in 2019. For achieving level 1 automation, vehicle needs to be equipped with at least one of the advanced driver assistance system (ADAS) features or electronics stability control. Furthermore, countries in Europe and the U.S. have mandated the installation of basic ADAS features in new commercial vehicles, thereby making them semi-autonomous.

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Geographically, North America dominated the global autonomous commercial vehicle market in the past, as per a P&S Intelligence report. The demand for the technology is further expected to be the highest in the region during the forecast period. The rising research & development activities and increasing support from state and federal governments for the evolution of autonomous driving technologies are resulting in the growth of the regional market. The Asia-Pacific region is projected to exhibit the highest CAGR during the forecast period, due to the fact that the region is the largest automobile manufacturing industry across the globe.

In conclusion, the demand for autonomous commercial vehicles is growing due to the surging need for enhancing safety on roads, advancements in connected technologies, and heavy investments.

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Low-Code Development Platform Market Outlook By Size, Demand Status Of Type, Applications And Future Forecast

The key factors driving the growth of the low-code development platform market are the rapid digitization, less requirement for IT professionals associated with the technology, and regulatory uncertainty. The market revenue, which was $10.3 billion in 2019, is projected to increase to $187.0 billion by 2030, at a CAGR of 31.1% during 2020–2030 (forecast period). With the use of the low-code development platform, developers can combine several pre-programed application components to create a new app, thus staying less reliant on IT professionals.

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The fact that this technology significantly lessens the dependence on IT professionals is the primary reason for the low-code development platform market growth. Various departments within a firm need applications for smooth operations, but the delay in receiving the apps hampers productivity. To deal with this, companies hire IT professionals, who leverage platform as a service (PaaS) and programming languages, such as .NET and Java. 

In 2018, North America was the largest low-code development platform market, owing to the presence of a large number of computer and mobile app developers, deep internet penetration, and high disposable income. During the forecast period, the market is predicted to observe the fastest growth in Asia-Pacific (APAC), because of the increasing smartphone and internet penetration, expanding IT service industry, and rapid economic growth.

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The increasing usage of mobile phones is raising the demand for applications in the region. The low-code development platform market is also being positively influenced by uncertainty in the regulatory landscape. In the aftermath of crippling cyber-attacks, such as the data leak of around 87 million Facebook users in 2018, governments across the globe implemented strict regulations regarding the protection of customers’ personal data.

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Motion Sensor Market Share: In-Depth Coverage And Various Important Aspects by 2030

The demand for consumer electronics has been increasing rapidly across the globe, as the disposable income of people is rising. In addition to this, the price of products such as smartphones and laptops has decreased considerably since the past few years, owing to technological advancements, owing to which a larger number of people are now able to afford such products. 

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In fact, the penetration of smartphones has been increasing considerably in developing countries such as China and India. Other than smartphones wearable devices have also become increasing popular among young people these days. Attributed to all these factors, the motion sensor market is predicted to generate a revenue of $7,590.8, rising from $4,430.7 million in 2019, and is expected to progress at a 5.1% CAGR during the forecast period (2020–2030). 

On the basis of type, the market is divided into combo sensor, infrared, gyroscope, accelerometer, tomographic sensor, and ultrasonic, among which, the combo sensor division, accounted for the major share of the market in 2019. This is due to the microfibrication of different types of motion sensors into a single device, as it offers enhanced accuracy while detecting motion. All these consumer electronic products make use of motion sensors for functioning properly. 

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A motion sensor is designed for detecting and measuring movement and are majorly utilized in business and home security systems. Motion sensors are integrated along with an embedded computer, a sensor unit, and hardware and are meant for performing highly specific functions, such as triggering audible alarms, alerting the police, activating floodlights, and activating floodlights. The global motion sensor market is predicted to advance at a significant pace in the years to come, owing to the increasing use of consumer electronics.

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Demand for Intelligent Traffic Camera Market to Experience a Significant Dip in 2030, Influenced by COVID-19 Pandemic

 The increasing prevalence of road accidents around the world is an important factor driving the growth of the global intelligent traffic camera market. The market generated $10,087.8 million revenue in 2019 and is expected to attain a value of $24,465.6 million in 2030, exhibiting a CAGR of 8.5% from 2020 to 2030.

According to the World Health Organization (WHO), almost 1.3 million road crashes occur annually all over the world. This road accident rate is much higher in the developing nations such as China, India, and Brazil, on account of the poor conditions of the roads and the high population and road congestion levels. Intelligence traffic cameras help majorly in curbing the incidence of road accidents and preventing deaths caused because of these crashes by capturing videos or images sequences and conducting face recognition and motion analysis of the same. Furthermore, these systems help in monitoring the road traffic levels with the help of vehicle detection and classification.

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Geographically, Europe had the highest market share, by volume, during the last several years. This is ascribed to the fact that many European nations have developed intelligent traffic systems for monitoring the road traffic conditions. This is done via the analysis of historical data pertaining to various parameters such as the usage of pedestrian crossings and car parks, the total number of automobiles in high- and low-congestion regions, roadworks, location, and frequency.

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The intelligent traffic camera market is not dominated by any single player. In fact, it is fragmented, with many global players and some domestic players operating in it. The major market players have taken numerous strategic measures such as partnerships and product launches for gaining a foothold in the global market. For instance, FLIR Systems Inc. launched a high-definition midrange surveillance system called the FLIR Ranger HDC MR in March 2020. This system can detect traffic activities and function properly in harsh weather conditions by using image processing and embedded analytics for reducing the cognitive workload and allowing the users to swiftly differentiate between the false and true traffic conditions and threats.

Some prominent market players are ARH Inc., Pelco Inc., FLIR Systems Inc., Nedap N.V., Sony Corp., Kapsch TrafficCom AG,Canon Inc.,Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., and VITRONIC GmbH.

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Boom Expected in Automotive Lithium-Ion Battery Sales in Future

The mushrooming requirement for electric vehicles is one of the major factors responsible for the soaring demand for automotive lithium-ion batteries across the globe. As per the observations of the International Energy Agency (IEA), “the global electric car fleet exceeded over 5.1 million in 2018 up 2.0 million in previous year”. In addition to this, the fluctuating prices of oil and gas and the rising environmental degradation caused due to the usage of oil and gas-powered automobiles are further boosting the sales of electric vehicles all over the world.

In addition to the above-mentioned factors, the increasing implementation of favorable regulations and policies by the governments of several countries is also propelling the sales of electric cars all around the world. Furthermore, the provision of various financial incentives and benefits by the governments of many countries on the purchase of electric cars is pushing up the sales of these vehicles, which is, in turn, boosting the demand for lithium-ion batteries as these batteries are extensively used for charging these cars throughout the world.

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Globally, the European automotive lithium-ion battery market will be very lucrative in the coming years, according to the estimates of P&S Intelligence, a market research company based in India. This is attributed to the rising sales of electric vehicles in the region, primarily on account of the presence of favorable government policies. Furthermore, the European Union (EU) has partnered with commercial lenders and battery manufacturing companies for developing an ecosystem that will make the region completely self-sufficient in automotive battery manufacturing in the near future.

The biggest example of such joint efforts is the recent approval granted by the European Investment Bank (EIB) for the provision of a loan worth $392.0 millionto NorthvoltEtt for setting up a battery manufacturing Gigafactory in Sweden. Similarly, the German government is also planning to increase the domestic manufacturing of automotive battery cells in the near future to make the country self-sufficient in lithium-ion battery production. These factors will boost the sales of automotive lithium-ion batteries in Europe in the years to come.

Hence, it can be inferred from the above paragraphs that the sales of automotive lithium-ion batteries will shoot-up all over the world in the forthcoming years, primarily because of the growing adoption of electric vehicles across the world.

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