Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Cyber Insurance Market

The global cyber insurance market will grow, in value, from $5,573.2 million to $70,671.9 million from 2019 to 2030. In addition to this, the market is predicted to advance at a CAGR of 26.3% from 2020 to 2030, according to the estimates of P&S Intelligence, a market research firm in India. Cyber insurance solutions are widely adopted by both small and medium enterprises (SMEs) and large enterprises.

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“According to many reports, there had been data breach incidents involving nearly 8 billion records, that included phone numbers, home addresses, and credit card details during January 2019—April 2020”. Furthermore, the increasing incidence of data breaches has made the governments of many countries implement stringent cyber security policies and measures for mitigating the growing security risks, which has, in turn, boosted the demand for cyber insurance solutions across the world. 

The increasing internet penetration and digitization in several industries and business operations has tremendously increased the adoption of digital solutions such as online transactions, data analysis, and various other processes. This has also significantly increased the prevalence of cyber attacks all over the world, with soaring number of cyber fraud, theft, and data breach cases, especially those pertaining to social security numbers, passwords, credit card details, email addresses, and other confidential information, being reported every year. 

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Between the two, the large enterprises are expected to generate higher demand for these solutions and systems in the future years. This is credited to the fact that the large enterprises are increasingly adopting various advanced technologies, owing to which, they are becoming more vulnerable to cyber attacks. Integrated and standalone are two main types of cyber insurance solutions used by organizations across the world.

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Automotive LiDAR Market to Witness Robust Expansion Throughout the Forecast Period 2030

 Due to rapid technological advancements, the implementation of strict safety regulations and policies regarding vehicles by the governments of several countries, and the superior detection ability of LiDAR (light detection and ranging), the global automotive LiDAR market is predicted to register huge growth in the coming years. Many public and private organizations are making huge investments in the development of LiDAR sensors, on account of excellent performance of these sensors in various automotive applications.

Due to the growing prevalence of road accidents, the governments of many countries are implementing strict regulations that mandate the adoption of safety systems and features in automobiles. For example, the EU (European Union) has recently enacted a regulation that mandate the incorporation of various driver assistance features such as emergency stop signal, intelligent speed assistance, and advanced emergency braking in automobiles running on the roads of the member nations.

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Many automakers and technology developers such as Waymo LLC and Tesla Inc. are working on robotaxis. These taxis are predicted to be launched in 2025. They will be mainly used for ride hailing services, which would push up the deployment of fully-autonomous cars and subsequently boost the sales of LiDAR sensors in the coming years. Geographically, the automotive LiDAR market would register rapid advancement in Asia-Pacific in the future, as per the estimates of the market research firm, P&S Intelligence.

Hence, it can be said with complete surety that the market will surge sharply throughout the world in the years to come, primarily because of the rising adoption of ADAS and other safety systems in vehicles and the growing usage of connected cars and autonomous vehicles across the world.

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Coronavirus Business Impact – Motion Sensor Market In-depth Analysis of the Industry with Future Estimations

The burgeoning demand for consumer electronics is one of the major factors propelling the need for motion sensors across the world. Motion sensors are widely used in consumer electronics for a wide array of applications such as in controlling the orientation of the smartphone screen. The consumer electronics industry is expanding at a rapid rate, on account of the soaring demand for wearable devices and smartphones, especially from millennials. 

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Furthermore, the surging global population level is also expected to boost the need for consumer electronics, which in turn, will fuel the rise in the demand for motion sensors. Driven by the above factors, the global motion sensor market is expected to increase its revenue from $4,430.7 million in 2019 to $7,590.8 million by 2030, with a CAGR of 5.1% during the forecast period (2020–2030). 

The wide-scale usage of motion sensors in various automotive components such as vehicle alarm system, wheel alignment system, and airbag system, and the huge growth of the automotive industry over the last few years are the other factors contributing to the rising demand for motion sensors across the world. As per the International Organization of Motor Vehicle manufacturers (OICA), 95.1 million vehicles including passenger and commercial vehicles were sold in 2018. 

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In addition to this, the increasing focus on the adoption of electric vehicles throughout the world is also pushing the demand for motion sensors.Motion sensors are used in consumer electronics, automobiles, medical devices, building automation systems, and industrial equipment. Amongst these, the building automation systems, owing to the rising adoption of heating, ventilation, and air-conditioning (HVAC) equipment, are predicted to record the fastest growth in the usage of motion sensors during the forecast period.

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COVID-19 Impact Analysis on Video Streaming Market | Insights on Strategies of Key Players

The video streaming market is witnessing the trend of the shift toward the OTT platform. It has been observed that in countries, such as the U.S., more than 150 million people have opted for OTT services, whereas more than 180 million people, use smart TVs. Further, people are opting for personalized content, which is pushing companies to offer high-margin visual entertainment by offering users bundled services. The rising popularity of OTT can be correlated to the rising consumer preference for specific content and better connection reliability offered by the service providers.

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From amassing $245.3 billion in 2018, the global video streaming market is predicted to reach $688.7 billion by 2024, advancing at a 19.1% CAGR during the forecast period (2019–2024). The factors positively influencing the market growth are the rising popularity of video streaming in developing nations, growing internet connectivity, and the rising popularity of social media platforms. The accessing of the on-demand or live viewing of the content as per a consumer’s preference is termed as video streaming. This has been categorized into different services, including over-the-top (OTT), pay TV, and internet protocol TV (IPTV).

One of the major drivers of the video streaming market are the surging popularity of social media platforms, which can be credited to the improved access to the internet and connectivity. For instance, an explosive growth of 99% was exhibited by the video content on media platforms, such as YouTube in 2017. Further, these platforms are now increasingly being used as an advertisement revenue model for generating income. Based on this model, YouTube has generated the maximum revenue, which is closely followed by Facebook Inc.

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The categories of the video streaming market based on offering are service and solution. Between the two, in 2018, the higher revenue share of 94.6% was contributed by the solution category. Along with being extremely popular in the entertainment sector, video streaming solutions have become an important component for sales, marketing, business development, and corporate communications. This has resulted in their wide applications for personal as well as professional use. The solution category is further subcategorized into IPTV, OTT, and pay TV; among which the fastest growing subcategory is the OTT.

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Business Impacts of COVID-19 on 5G RF Transceiver Market | Strategies of Major Industry Competitors

The demand for 5G radio frequency (RF) transceivers is also growing at a rapid pace. RF transceivers are a blend of transmitter and receiver, and while transmitting, the receiver is silenced. Both transmitter and receiver are allied with the same antenna, which is enabled by an electronic switch. This device allows wireless device to be connected to the internet for receiving and transmitting data.

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Attributed to these reasons, the global 5G RF transceiver market generated a revenue of $112.0 million in 2019 and is predicted to progress at a 30.4% CAGR during the forecast period (2020–2030). Two types of 5G RF transceivers according to design are standalone-chip transceiver and single-chip transceiver. Between these two, the demand for standalone-chip transceivers was higher in the past, which is because of the fact that these devices are able to operate in a wireless system with low voltage and utilize less power. 

Different applications of 5G RF transceivers are embedded modules, base stations, radar systems, and mobile devices. Among these, the largest demand for 5G RF transceivers was created for base station applications in the past, since enhanced RF front end (RFFE) design is needed for supporting 5G in mobile phones. In addition to this, due to advanced long-term evolution-unlicensed capabilities, complex antenna architecture, expanded carrier aggregation, and higher-order modulation, the RFFE design of advanced smartphones is complex. 

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Thus, 5G transceivers are being utilized in base stations for supporting higher frequency bands in RFFE designs and faster mobile broadband speeds. A number of industries make use of 5G RF transceivers, such as healthcare, consumer electronics, military &defense, telecommunications, aerospace, and cable/broadcasting. In the coming years, the consumer electronics industry is projected to make considerable use of 5G RF transceivers. Owing to the launching of 5G services by telecom services, RF transceivers are increasingly being integrated in smartphones and other consumer electronics.

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What Factors would be Responsible for Boom of Anatomic Pathology Market in Asia-Pacific in Future?

 One of the biggest factors resulting in the increasing demand for anatomic pathology services across the world is the escalating prevalence of chronic diseases, such as hypertension, cancer, heart diseases, autoimmune diseases, liver cirrhosis, and kidney diseases, especially in low- and middle-income countries (LMICs). According to a report of the World Health Organization (WHO), 9.6 million people died from cancer across the world in 2018. Furthermore, the report also states that almost 70% of the deaths from cancer occur in LMICs, which, in turn, boosts the demand for anatomic pathology screening in these countries.

The other key factor responsible for the growth of the anatomic pathology market is the soaring geriatric population across the globe. As per the World Population Ageing published by the United Nations (UN), the global geriatric population is predicted to increase from 703 million in 2019 to 1.5 billion by 2050. Additionally, the WHO reports that the prevalence of chronic diseases, such as depression, diabetes, organ failure, dementia, and pulmonary diseases, increases with age, which further pushes the need for efficient diagnosis, thereby propelling the volume of pathological tests.

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The biggest rage currently being witnessed in the anatomic pathology market is the heavy investments in the rapid development of new technologies, in order to speed up the disease diagnosis process. For instance, Greg Clark of the U.K. government announced in November 2018 that several consortium groups will together develop five new digital imaging and pathology centers, in various places in the U.K., such as Oxford, Glasgow, Leeds, Coventry, and London. The U.K. government, in order to make this possible, plans to invest $65 million from the Industrial Strategy Challenge Fund.

Therefore, it can be concluded that owing to the ballooning need for quick and effective diagnosis of chronic diseases and rapid technological advancements in the healthcare industry, the usage of anatomic pathology testing is set to observe huge growth in the coming years.

Source: https://www.psmarketresearch.com/market-analysis/anatomic-pathology-market

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Can Voice Assistance Technology be a Game-Changer for Customer Experience Strategy?

The emphasis on providing customers with enhanced experience has risen considerably in recent times. An excellent customer experience strategy has become a necessity for businesses these days in order to enhance engagement with their solutions and services. In order to facilitate this, companies are incorporating voice assistant solutions in their marketing strategies. With the use of voice search, customers want quick and relevant results. The voice assistant technology assist users by analyzing the received input in an effective way.

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These factors are resulting in the growth of the global voice assistant market. A digital assistant that makes use of voice recognition, speech synthesis, and natural language processing for helping users through voice recognition applications and phones is referred to as a voice assistant. The adoption of the voice assistant technology is also increasing in contact centers for assisting customers. The technology aids contact centers in gathering data regarding customers’ preferences, opinions, and buying patterns. 

The voice assistant market is predicted to reach a value of $26,872.6 million by 2030, from $1,723.6 million in 2019, progressing at a 29.7% CAGR during the forecast period (2020–2030). In terms of component, the market is divided into solution and service, between which, the solution division accounted for the larger share of the market in 2019. Voice assistant solutions are being adopted by various industries, such as healthcare, banking, financial services, and insurance, retail, and automotive, for improving customer experience.

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The collected data is analyzed using the voice assistant technology that further allows businesses to offer proactive recommendations regarding services and products and personalized experience. The growing adoption of the cloud technology by a number of industries, including automotive, healthcare, and retail and e-commerce, is also a major factor that is also projected to result in the increasing demand for the voice assistance. Cloud platforms enable companies to deploy the voice assistant technology with customizations and gain access to the technology efficiently. 

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