What Role Are Virtual Fitting Rooms Playing in E-Commerce Era?

GSMA’s 2020 Mobile Economy report says that from 5.2 billion in 2019, the number of smartphone users around the world would rise sharply to 5.8 billion by 2025. In other words, compared to 67% in 2019, almost 70% of the people on this planet would own a smartphone. Additionally, compared to 3.8 billion, or 49% of the world’s population in 2019, 5 billion, or 61% of the global population would be a regular mobile internet user in 2025. 

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It is already a well-known fact that the penetration of smartphones and the internet has been instrumental in driving the popularity of e-commerce. While e-commerce gives people the convenience of ordering stuff from home and getting it delivered to them at cost-effective rates, products, especially clothes, can only be tried on once they reach the customer. 

The cameras analyze the person’s physique and movements and digitally superimpose the attire on their own 2D or 3D image, to show people how it would look on them in reality. P&S Intelligence expects the rising usage of these technologies and smartphones to take the virtual fitting room market to $19,250.4 million by 2030, from $3,128.6 million in 2019, at an 18.5% CAGR between 2020 and 2030.

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Not anymore! With the virtual fitting room concept, clothes can be tried on even before customers get their hands on them, via technologies such as AI, augmented reality (AR), and virtual reality (VR). Anyone who has used Snapchat filters or even Photoshop would easily grasp the concept. A virtual fitting room is a digital representation of a fitting room, wherein images taken from cameras and processed by AI, AR, and VR let a person try on clothes and other pieces of attire in the virtual space. 

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Demand for Electric Bus Charging Stations Highest in Asia-Pacific due to Increased Usage of Electric Buses in China

 The preference for electric vehicles has increase significantly all across the globe. This can be attributed to the surging air pollution levels, caused due to conventional ICE vehicles, rapid depletion of fossil fuels, and growing focus on renewable energy sources. Since electric vehicles can aid in curbing the emission of greenhouse gases into the atmosphere, their adoption has been increasing among people since the past few years.

While previously, the focus has majorly been on electrification of private vehicles, such as motorcycle, cars, and schools, now governments of several countries are also focusing on electrifying the public transport systems of their countries. Owing to this, the global electric bus charging station market is expected to register substantial growth in the years to come. The adoption of electric buses has particularly been increasing because of various incentive programs, including grants, tax rebates, and subsidies. Therefore, as the adoption of electric buses will rise, the need for related charging infrastructure will grow as well. 

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The global electric bus charging station market is predicted to attain a revenue of $12.3 billion by 2025, increasing from $6.6 billion in 2019, and is predicted to grow at a 9.7% CAGR during the forecast period (2019–2025). On the basis of type, the market is divided into inductive charging, depot charging, and opportunity charging, among which, the depot charging division contributed the largest revenue share to the market in 2018. As these buses have similar operations as diesel buses, they are easier to operate.

The Asia-Pacific region held the major share of the electric bus charging station market in 2018, which can primarily be attributed to fact that China is the largest electric bus market across the globe. The country accounts for 99.0% of the total sales of electric buses around the world. This increasing penetration of electric buses in the country is bound to create high demand for related charging infrastructure, including electric bus charging stations.

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In conclusion, the market is growing due to the surging pollution across the globe, increasing use of electric buses, and government initiatives.

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Silicon on Insulator Market Trends, Segmentation, Key Players, Application And Forecast

According to a report by P&S Intelligence, the global silicon on insulator (SOI) market is predicted to generate a revenue of $2,285.5 million by 2024, increasing from $684.9 million in 2018, progressing at a 22.7% CAGR during the forecast period (2019–2024). The market is growing due to the rising investments in the SOI ecosystem and increasing requirement for SOI wafers in the consumer electronics applications. In terms of wafer size, the market is divided into 300 mm, <200 mm, and 200 mm. 

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Out of these, the 200 mm division accounted for the largest share of the market in 2018, due to the increasing demand for RF-SOI substrates, specifically designed for automotive and mobility industries, from Asia-Pacific and North America. On the basis of wafer type, the market is categorized into imager-SOI, radio frequency-SOI, photonics-SOI, fully depleted SOI, power-SOI, and partially depleted SOI, out of which, the RF-SOI category held the major share of the market in 2018. 

RF-SOIs are widely being utilized in innovative LTE smartphones. In addition to this, the increasing investments for the development of 5G network is also driving the demand for RF-SOI. The FD-SOI category is expected to witness the highest CAGR during the forecast period in the SOI market. These wafer types are widely used for ultra-low power applications such as wearable devices and smart appliances. Moreover, the cost-efficiency and relatively high performance of these wafers is leading to the category’s demand. 

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The Asia-Pacific (APAC) region held the largest share, of 55.4%, of the SOI market in 2018. Countries including South Korea, China, and Japan are widely focusing on the introduction and expansion of the 5G network services in the years to come, which is the major driving factor of the regional market. Moreover, the rising investments for the development of the 5G technology in APAC is also predicted to result in the growth of the regional market during the forecast period. 

This market research report provides a comprehensive overview of the SOI market

• Historical and the present size of the SOI market
• Future potential of the market through its forecast for the period 2019– 2024
• 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

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Electric Scooters and Motorcycles to Dominate Indian Roads in Coming Years

Due to the rising pollution and the increasing provision of financial incentives by the government, the sales of electric scooters and motorcycles are booming in India. In 2019, nearly 152.0 thousand units of electric motorcycles and scooters were sold in the country, registering a 20.6% growth annually from 2014. The Indian electric scooter and motorcycle market would reach a sales volume of 1,080.5 thousand by the end of 2025, exhibiting a CAGR of 57.9%between 2020 and 2025.

In terms of retail sales value, the market is predicted to advance at a CAGR of 63.9% from 2020 to 2025 and attain a revenue of more than $1.0 billion in 2025. A key factor fueling the growth of the market is the provision of lucrative financial incentives and subsidies on electric vehicles by the government. Moreover, the government is also providing tax exemptions and purchase rebates for promoting the utilization of electric vehicles and two-wheelers in the country.

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The ballooning sales of these scooters would be driven by the availability of a wide array of electric scooter models in the country, their affordable prices, and their ability to serve as excellent alternatives to the traditional fossil fuel-powered mopeds. According to P&S Intelligence, a market research company based in India, the Indian electric scooter and motorcycle market is currently demonstrating the highest growth in Uttar Pradesh out of all the states in the country.

The surge of the market in Uttar Pradesh is caused by the increasing penetration of electric motorcycles and scooters in the state. Moreover, these two-wheelers are registering soaring sales in the tier 2 and tier 3 cities of the state. Because of the rising demand for these vehicles in the state, many original equipment manufacturers (OEMs) are rapidly increasing their dealer network. This is, in turn, pushing up the sales of electric motorcycles and scooters in the state.

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Hence, it can be safely said that the market will exhibit rapid growth in the coming years, mainly because of the rising implementation of favorable government policies regarding the sales of electric vehicles and the increasing consumer preference for electric scooters and motorcycles over their fuel-based variants in the country. 

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Green Technology and Sustainability Market Trends, Segmentation, Key Players, Application And Forecast

Green technology and sustainability solutions are widely used in environment management, air quality management, green buildings, water and wastewater management, climate change management, and solid waste management applications. Amongst these, the environment management applications are expected to witness the fastest growth in the adoption of green technology during the forecast period. This is primarily attributed to the rapidly degrading soil quality, owing to the surging pollution levels and intensive farming practices.

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Green technologies can help farmers in pinpointing the ideal time to spray, plant, and harvest, which would, in turn, reduce the usage of pesticides and fertilizers. The biggest phenomenon currently being witnessed in the green technology and sustainability market is the rising usage of smart grids. The development of smart technologies has boosted the adoption of automation, distribution, communication, and metering processes, thereby driving the smart grid usage. 

For instance, smart meters help consumers in reducing power wastage by assisting them in keeping track of their power consumption. These grids also advise consumers on power optimization methods. In addition to this, smart grids play a major role in reducing the supply gap during periods of peak demand, by monitoring and tracking the electricity requirement of consumers. Globally, North America recorded the highest adoption of green technology and sustainability solutions in 2019.

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This is mainly ascribed to the huge investments made by private and public companies for the development of analytics and blockchain technologies, for the residential, commercial, and industrial sectors of the region. Furthermore, the efforts made by the governments of the two North American countries for integrating advanced technologies in the utilities sector, in order to ensure sustainability, have also contributed massively to the wide-scale adoption of green technologies in the region.

Hence, it is clear that due to the burgeoning adoption of building automation systems and the rising need for low-carbon electricity generation, the demand for green technologies and sustainability solutions will boom in the coming years.

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Rapid Advancement Expected in Global Handicrafts Market in Future

Travel & tourism activities has increased considerably across the globe over the past few years. Now that various forms of transportation are available, ranging from cheap to expensive, a larger number of people have taken an interest in exploring the world. Furthermore, globalization and increased disposable income of people in various countries have also resulted in the growth of the travel and tourism industry. Getting acquainted with the culture of a new place is a major aspect of traveling that people look forward to, and the artistic and cultural aspects of any society are almost always deeply rooted in their handicrafts items.

The global handicrafts market is registering growth because of the fact that people usually buy such items for presenting their family and friends with some kind of souvenirs. In addition to this, handicrafts are cheap to begin with and make for excellent ornamental pieces. The artisans in this domain wither work independently or are employed by small companies or exporters. The initial investment in this domain is less and companies can employ cheap labor, owing to which, the industry is growing rapidly in emerging economies, such as India.

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As per a report by P&S Intelligence, the handicrafts market is divided into officeware, furnishings & furniture, kitchenware, toys, gardenware, bathroom accessories, jewelry, and others. Among all these, the furniture and furnishings division is predicted to advance at a considerable pace in the years to come. The domain has further been registering shifting preference to contemporary styles from ethnic designs. In addition to this, the combinations of these styles is also gaining popularity these days. Owing to these trends, artisans have also started paying attention to the quality of products.

In conclusion, the demand for handicrafts is growing due to the expanding travel & tourism industry and surging demand for developed countries.

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E-Signature Market Growth Rate, Developments In Major Areas, Market Size, Dynamics, Opportunities, & Forecast With Demographic Data Till 2030

The surging popularity of online documentation processes is another major factor fuelling the rising demand for e-signatures across the world. In addition to this, the governments of various countries all around the world are rapidly implementing measures and policies for promoting the adoption of e-signatures all over the world. 

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Due to these factors, the global e-signature market generated a revenue of $951.3 million in 2019. The market is expected to advance at a CAGR of 24.6% during the forecast period (2020—2030). One of the prominent trends currently being witnessed in the e-signature market is the rising provision of e-signature solutions through software as a service (SaaS) model. 

This is mainly ascribed to the fact that the SaaS model allows the utilization of e-signature solutions without their customization and integration and immediately after their procurement. Due to this reason, governments and organizations across the world are increasingly preferring the adoption of SaaS-based e-signatures. Furthermore, the SaaS-based e-signature solutions are being increasingly used for document signing procedures by external organizations, sales, legal departments, and human resources.

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Across the globe, the Asia-Pacific (APAC) region is predicted to observe the fastest growth in the adoption of e-signature solutions during the forecast period. This is primarily attributed to the rising number of small and medium enterprises (SMEs), increasing investments being made in the information technology (IT) sector, rapid economic growth, increasing incorporation of various advanced technologies such as machine learning (ML)and artificial intelligence (AI), and enhancing digital infrastructure in the region.

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