E-Signature Market Growth Rate, Developments In Major Areas, Market Size, Dynamics, Opportunities, & Forecast With Demographic Data Till 2030
Rapid Advancement Expected in Global Midibus Market in Future
One of the major factors propelling the production of midibuses is the upgradation of the transport infrastructure by the governments of various countries all around the world. Moreover, the rising global warming and environmental damage caused by the usage of conventional modes of transport have led to the enactment of stringent climate protection policies and agreements such as the Paris climate agreement, which is in turn making several countries, especially the ones in the European Union (EU), switch toward the adoption of energy efficient, sustainable and eco-friendly modes of transpiration such as the midibuses.
The rising urbanization and soaring population levels are the other major factors boosting the demand for midi buses across the globe. Due to these factors, the global midi bus market is expected to register tremendous growth during the forecast period (2020—2030). A midibus is basically a single decker minibus, which is usually smaller than a full size single decker minibus but larger than a conventional variant. The length of a midibus is usually in the range of 8–11 meters.
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Globally, Asia-Pacific (APAC) is predicted to register the highest growth in the adoption of midibuses during the forecast period, due to the increasing population and soaring government initiatives in India and China for promoting the adoption of electric buses. For instance, the Indian government launched the National Electric Mobility Mission Plan (NEMMP) 2020 in 2019 for propelling the sales of electric and hybrid automobiles in the country. The burgeoning sales of electric vehicles will propel the adoption of electric midibuses in the country, which will in turn boost the growth of the midibus market in the country in future.
Therefore, it can be said
without any hesitation that the sales of midibuses will shoot-up throughout the
world in the coming years, mainly on account of the increasing need for
environment-friendly modes of transportation and the improving transport
infrastructure in several countries.
This
market research report provides a comprehensive overview of the midibus market.
This study covers
- ·
Historical and the present size of the midibus market
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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
- ·
Major players operating in the market
and their service offerings
- ·
Recent strategic developments by the
major players in the market
Rising Home Ownership Driving Worldwide Sales of Mattresses
The soaring home ownership rate in several countries, on account of the growing disposable income of people and the implementation of favorable government laws regarding home ownership, is causing a sharp surge in the sales of mattresses across the globe. As per the Organization for Economic Co-operation and Development (OECD), housing has become highly affordable in many countries, mainly because of the rise in the average annual growth rate of the disposable income of people.
The organization also found
that the disposable income of people is registering an average annual growth
rate of more than 2%. Additionally, the enactment of favorable policies in the
real estate sector by the various governments is also pushing up the global home
ownership rates. The Chinese government’s joint ownership housing scheme, the
Indian government’s ‘Housing for All’ scheme, and the British Government’s
affordable home ownership program are some of the laws that are fueling the
surge in home ownership.
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Apart from the aforementioned
factors, the growing migration of people from rural areas to urban centers,
especially in the Middle East and Asia-Pacific (APAC) regions, is also
propelling the demand for housing. This is, in turn, pushing up the requirement
for mattresses. As per the World
Urbanization Prospects report published by the United Nations, nearly 54% of
the people all over the world lived in urban areas in 2014 and this share would
rise to almost 66% in 2050.
Hence, with the rising
migration of people to cities and towns, the home ownership rates would boom.
This would, in turn, cause the advancement of the global mattress market.
The revenue of the market is predicted to surge from $31.1 billion to $38.9
billion from 2017 to 2023. Moreover, the market would exhibit a CAGR of 3.8%
from 2018 to 2023. Between the organic and chemicals-based mattresses, the
sales of the former will be higher in the future.
This would be a result of
the growing public awareness about the harmful effects of chemicals-based
mattresses. Among organic mattresses, the demand for latex mattresses is
predicted to rise significantly in the coming years. Depending on end-use, the mattress market is divided into residential and commercial categories. Of these, the
commercial category recorded higher growth in the market in the past years.
This is because of the frequent changing of mattresses and other bedding
products in hotels.
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Geographically, the North
American mattress market was very prosperous in the years gone by and
this trend will continue in the coming years as well, as per the estimates of
the market research firm, P&S Intelligence. The surging disposable income
of people in Canada and the U.S. would propel the sales of mattresses in the
region in the future years. Besides this, the rapid construction of hotels in
the U.S. is also pushing up the sales of mattresses.
Thus, it is safe to say
that the demand for mattresses would skyrocket all over the world in the near
future, mainly because of the rising home ownership rates and the increasing
tourism activities around the world.
How is rising Penetration of Smartphones Driving AR and VR Market?
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The application of VR is rising in several industries, majorly gaming, and the prices of VR are declining, thereby leading to the increasing adoption of the technology. VR provided an immersive experience to consumers, which is why, companies in the gaming industry are incorporating these features into their services and products. The AR category is predicted to grow at a faster pace during the forecast period, owing to the various benefits offered by the technology.
On the basis of application, the AR and VR market is divided into enterprise, commercial, and consumer, out of which, the consumer division is predicted to hold the major share of the market in 2030. The rising awareness regarding AR and VR is the major reason for the growth of this division. The number of gamers across the globe is expected to rise in the coming years, which is projected to drive the demand for immersive and interactive gaming.
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Geographically, the AR and VR market was dominated by North America during the historical period (2014–2019) and is predicted to hold the major share of the market during the forecast period as well. Within the region, the U.S. is leading the domain, owing to the presence of major companies in the country. In addition to this, the rising application of VR and AR in the healthcare and e-commerce sectors is also driving the growth of the regional domain.
How is the Expanding E-Commerce Industry Contributing to Growing Demand for Seasonings and Spices?
The preference of consumers has changed radically since the past few years. A major reason for this is globalization, owing to which, different cultures are now being celebrated all across the globe. This includes the changing eating habits of people, as now consumers are open to experimentation and are increasingly trying new flavors and tastes. Recently Mexican, Chinese, and Continental cuisines have become increasingly popular all across the globe. These cuisine make extensive usage of different kinds of spices and seasoning, because of which, the demand for these products is growing rapidly all across the globe.
The global seasonings and spices market is projected to generate a revenue of $30.4 billion by 2023,
increasing from $21.5 billion in 2017, and is predicted to progress at a 6.0%
CAGR during the forecast period (2018–2023). The market is bifurcated into
whole and ground in terms of product, between which, the whole bifurcation
accounted for the larger share of the market in 2017. This is due to the fact
that whole seasonings and spices are utilized in both residential and
industrial sectors. The bifurcation is further divided into ginger, aniseed,
saffron, chili flakes/pepper, vanilla, chives, tarragon, cinnamon, thyme,
cumin, rosemary, dill, sesame, fennel, blue poppy seeds, and white poppy seeds.
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As per a report by P&S Intelligence, the Asia-Pacific region
dominated the seasoning and spices
market, both in terms of volume and value, in 2017. This is primarily due
to the surging population in countries such as India and China, which is
creating high demand for these products. India is the second-most populated
country and the largest consumer of spices and seasonings across the globe. The
demand for these products is also expected to increase significantly in North
America and Europe in the coming years, as the consumption of various spices in
these regions has increased considerably in recent times.
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In conclusion, the demand for seasonings and spices is increasing because of the expanding e-commerce sector and changing food habits of people around the world.
How are Government Policies Driving the Demand for Electric Trucks?
As the air pollutions
levels around the world are increasing, governments of various countries are
imposing various policies and taking initiatives for reducing carbon dioxide
emissions. The transportation industry is among the key contributors to the growing
greenhouse gas emissions, most of the steps are taken in regard of vehicles,
for example, the introduction of electric vehicles. Approximately, 200 cities
in the European region have low-emission zones and access
regulations, with Italy, Germany, and the U.K. at top, at the present time. Due
to this kind of regulatory pressure, the sales of electric vehicles have risen
significantly over the past few years.
Owing to all these
factors, the demand for electric trucks is also expected to increase considerably
in the near future. According to a report by P&S Intelligence, the
global electric
truck market revenue is predicted to reach 1,508.1 thousand
units by 2025 and is expected to progress at an 18.5% CAGR during the forecast
period. Electric trucks are of different types in terms of propulsion, namely
fuel cell electric vehicles, battery electric vehicles (BEV), plug-in hybrid
electric vehicles, and hybrid electric vehicles, among which, the demand for
BEVs is projected to rise substantially in the coming years.
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Geographically, the
Asia-Pacific region has emerged as the largest electric truck
market in the past and is further is expected to create the largest demand
for these trucks in the near future as well. As is the case with most electric
vehicles’ domain, China has been creating the largest demand for electric
trucks within the region. This can be owing to the national
alternative-fuel-vehicle replacement sales target, favorable government
subsidies, and municipal air quality targets. Other than this, the demand for
electric trucks is also expected to rise in other regions as well in the coming
years because of heavy investments by manufacturers.
In conclusion, the demand for electric trucks has been increasing due to government efforts for decreasing carbon dioxide emissions.