Webgame Market Future Trends, Prominent Players, Covid 19 Impact and Forecast by 2030

The global webgame market is predicted to generate a revenue of $6.5 billion by 2030, rising from $3.5 billion in 2019, advancing at a 5.7% CAGR during the forecast period (2020–2030), according to a study conducted by P&S Intelligence. Other than growing use of smartphones, the rising utilization social media is also resulting in the growth of the market across the globe. At the present time, Facebook, Instagram, and Twitter are introducing various forms of social interaction.

The popularity of these was the highest during 2014–2019 as well, as they offer real-time interaction among players. Owing to their thrill of on-the-spot strategy making and fast-paced nature, real-time games are increasingly surpassing the other variants. Kantai Collection, Ikariam, Habbo Hotel, and FusionFall are some of the very popular real-time games. 

Webgames also have different genres, namely arcade, first-person shooter, sports games, MMORPG, and real-time strategy games, among which, the popularity of first-person shooter games has been increasing swiftly. These games are played from the protagonist’s viewpoint, which makes them thrilling for gamers. Moreover, these games are shorter than other variants, and hence are gaining popularity.

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Geographically, the Asia-Pacific (APAC) region emerged as the largest webgame market in the past, and the situation is likely to be the same in the coming years as well. The growing penetration of tablets, laptops, personal computers, and the internet are driving the regional domain. In conclusion, the surging penetration of smartphones and tablets and increasing utilization of social media platforms are driving the market.

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

• Historical and the present size of the webgame market
• 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

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U.S. Electric Truck Market to register Robust Growth of 51.6% during 2020–2030

The U.S. electric truck market is expected to generate a revenue of $15,084.3 million by 2030, increasing from $211.5 million in 2019, and the market is expected to witness robust growth of 51.6% CAGR during the forecast period (2020–2030). The market is growing due to the increasing government support for the deployment of electric trucks in the country and the falling process of battery packs. In addition to this, electric trucks are cheaper to maintain and operate as compared to traditional diesel trucks.

On the basis of vehicle type, the U.S. electric truck market is divided into heavy-duty truck (HDT), light-duty truck (LDT), and medium-duty truck (MDT). Out of these, the LTDs are predicted to account for the largest share of the market in 2030, owing to the increasing demand for pickup trucks in the country. In the U.S., LTDs accounted for more than 85% of the sales of commercial vehicles. Other than this, the HDT division is predicted to grow at the fastest pace during the forecast period.

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The rapid deployment of electric trucks in the logistics operations is also a major trend in the U.S. electric truck market. The logistics sectors itself has been registering considerable growth in the country since the past few years, owing to the expansion of the e-commerce industry. With the rising requirement for more-convenient and faster deliveries at customers’ doorsteps, the need for effective logistics has been on a rise. Various logistics companies are electrifying their fleet for making their operations optimized.

The supportive government policies are the major reason for the growth of the U.S. electric truck market. Governments on both the state and federal level have set strict targets for reducing carbon dioxide and nitrogen oxide emissions from vehicles. Moreover, in California, which is also the largest market for electric trucks in the country, vouchers and funds are being provided for the purchase of electric vehicles. Up to $20 million are supposed to be provided for the same purpose in the state till 2020.

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In conclusion, the demand for electric trucks in the U.S. is growing due to the favorable government policies and expansion of the logistics sector.

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Global Extended Reality Market Set to be Worth Over $1,000.0 Billion by 2030

The global extended reality (XR) market generated a revenue of $18.6 billion in 2019 and is predicted to attain a valuation of $1,005.9 billion by 2030. Furthermore, according to the forecast of P&S Intelligence, a market research firm based in India, the market would exhibit an explosive CAGR of 48.3% between 2020 and 2030.

The prominent factor fueling the progress of the extended reality market is the growing usage of augmented reality (AR)/virtual reality (VR), smartphones, connected devices, and 5G. Since the last few years, there has been a sharp rise in the number of smartphone users across the world and with the growing penetration of the internet and the rising spending power of people in several countries, this trend is likely to continue in the coming years as well. 

As per a report produced by the GSM Association in March 2020, as of December 2019, there were as many as 5.2 billion unique mobile subscribers in the world. This number accounted for almost 67% of the global population. Furthermore, the number of smartphone users is predicted to rise to 5.8 billion in 2025, accounting for a share of nearly 70% of the global population in that year.

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This will, in turn, massively push up the demand for AR applications in the future. The increasing partnerships and collaborations among the market players and the soaring popularity of gesture-based computing are the other major factors fueling the market boom. Thus, it is quite clear that the market will grow substantially all over the world in the years to come, primarily because of the rising usage of smartphones, growing popularity for AR/VR applications, and the rapid proliferation of AR/VR mobile applications around the world.

This market research report provides a comprehensive overview of the extended reality market

• Historical and the present size of the extended reality market
• 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

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What are Major Factors Propelling Surge of Global Second Life Electric Vehicle Battery Market?

The increasing number of electric vehicles (EVs) on the roads, owing to the presence of strict emission policies in many countries because of the increasing pollution levels caused from vehicular emissions, is one of the major factors fuelling the surging demand for second life electric vehicle batteries around the world. For instance, according to the Europe 2020 strategy, the European Union (EU) aims to reduce the carbon dioxide (CO2) emissions from vehicles by 20%, as compared to the emission levels in 1990, by 2020. Similarly, the U.S. targets to reduce the emission levels by 26–28% by 2025.

The batteries adopted in the electric vehicles are replaced very frequently (usually in every four to five years), which is significantly lesser than the complete life span of the electric vehicle itself. Moreover, the older battery, even after replacement, has almost 60—80% of its original power supplying capacity, which makes the battery highly useful in various other applications. Due to these factors, the global second life electric vehicle battery market is expected to exhibit huge growth during the forecast period (2020—2030).

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Across the world, Asia-Pacific (APAC) is predicted to observe the highest usage of second life electric vehicle batteries during the forecast period. In APAC, China is predicted to register the highest utilization of second life electric vehicle batteries during the forecast period. This is primarily credited to the rising adoption of electric vehicles in the country. In addition to this, the country aims to attain 50% share of electric vehicles in the entire domestic fleet by 2025, which will in turn, massively boost the demand for second life electric vehicle batteries in the country in the years to come.

Therefore, it can be concluded that the sales of second life electric vehicle batteries will surge throughout the globe in the upcoming years, owing to the soaring adoption of electric vehicles in many countries and the high charging capacities of the second life EV batteries which make them highly useful in several applications.

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Vertical Farming Market | Analysis, Post Covid-19 Impact | Potential Business Impacts for Key Players

The practice of growing crop in vertically stacked layers is referred to as vertical farming. The technique is basically utilized for producing food in challenging environments, such as where arable lands are rare or their unavailability. Vertical farming aids deserts, mountainside towns, and cities grow various types of vegetables and fruits by making use of skyscraper-like design and precision agriculture techniques. Attributed to such advantages, the global vertical farming market is expected to progress at a significant pace in the near future. 

Hardware and software are the two types of components that are utilized for vertical farming, between which, the demand for different hardware components was significant in the past. Hardware components utilized in vertical farming are hydroponic components (Including water filters, pumps and irrigation, and meters and solutions), lighting (including grow light ballasts, grow lights, and grow light reflectors), sensors (including crop sensors, temperature sensors, PH sensors, CO2 sensors, and nutrient sensors), and climate control (including air purification/control and ventilation fans). 

Among all these the demand for lighting components was the highest in the past. Shipping container-based and building-based are the two types of structures that are utilized for vertical farming, between which, the demand for building-based structure is predicted to increase considerably in the coming years. This farming type offers nearly 8 times more farming area as compared to single level farming land and further aids minimize the farming cost. 

In terms of growth mechanism, aquaponics, hydroponics, and aeroponics are the three techniques that are used for vertical farming. The demand for aquaponics is expected to grow considerably in the near future, since it combines fish farming ad hydroponics for creating an efficient closed loop system. A number of crops can be produced using vertical farming techniques, including tomato, lettuce, pepper, spinach, cucumber, and broccoli. Geographically, North America made the most use of vertical farming techniques in the past, which can be attributed to the growing popularity of commercial urban farming in the region and early adoption of advanced technologies. 

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Other than this, the adoption of vertical farming is also projected to increase in Asia-Pacific (APAC), thereby making the region the fastest-growing vertical farming market in the years to come. This is because of the fact that the fertile agricultural land in the region is decreasing, which is creating opportunities for urban farming. In addition, the high population in India and China is also driving the demand for different agricultural techniques in APAC. 

This market research report provides a comprehensive overview of the vertical farming market

• Historical and the present size of the vertical farming market
• 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

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LED Lighting Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

With the growing adoption of LED lighting solutions, “the global light emitting diode (LED) lighting market will grow, in valuation, from $30,500.8 million to $70,240.0 million from 2016 to 2023”. According to the forecast of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 12.6% between 2017 and 2023.

Lamps and luminaires are the most widely used types of LED lighting devices across the world. Of these, the revenue generated from the sales of luminaires was found to be higher over the last few years. For instance, the Indian government announced a smart city development program, under which, 100 cities throughout the country will be converted into smart cities by 2030. 

Geographically, “the LED lighting market exhibited the highest revenue growth in the Asia-Pacific (APAC) region over the last several years”. Furthermore, “the usage of these devices is predicted to increase at the fastest rate in the APAC region in the future years”. This is attributed to the soaring number of initiatives being taken by the governments of various APAC nations for promoting the utilization of energy-efficient lighting systems and the increasing electrification of villages in the APAC countries.

“A major factor fuelling the demand for light-emitting diode (LED) lighting solutions is the increasing number of construction and infrastructural development projects being undertaken by the governments of several countries around the world”. Due to the increasing urbanization and modernization, the governments of various developing nations such as China, Indonesia, and India are increasingly launching large-scale modernization and infrastructural development programs.

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This market research report provides a comprehensive overview of the drone analytics market

• Historical and the present size of the drone analytics market
• 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

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Increasing Mobile Data Traffic is Strongest Driver of Edge Data Center Market

According to the Cisco Visual Networking Index: Global Mobile Data Traffic Forecast Update 2017–2022 report published in February 2019, “the mobile data traffic has been estimated at nearly 26.8 exabytes per month in 2019, and it is predicted to reach over 77.5 exabytes per month by 2022.” Apart from the growing mobile data traffic, the rising over-the-top (OTT) traffic is also propelling the demand for edge data centers across the globe.

Because of these reasons, the global edge data center market will grow, in valuation, from $5.3 billion to $53.1 billion from 2019 to 2030. The market is also predicted to advance at a CAGR of 25.4% between 2020 and 2030. with the growing number of internet users, rising popularity of internet-based applications and online streaming services, and the increasing adoption of big data, IoT, and cloud solutions in business operations, the requirement for minimal latency will surge, which will, in turn, fuel the development of edge data centers across the world in the upcoming years. 

Solutions and services are the two main categories, under the component segment of the edge data center market. Between them, the solutions category will exhibit higher growth in the market in the coming years. This category is further classified into cooling, IT racks & enclosure, storage, networking equipment, data center infrastructure management (DCIM), and power and uninterruptible power supply (UPS).

Globally, the North American edge data center market is currently being observed to be the most prosperous, as per the findings of P&S Intelligence, a market research firm based in India. This is attributed to the commercialization of 5G and the increasing investments being made by the governments of North American countries for developing data centers in the region. 

The expansion of the market in this region will be driven by the rising internet penetration and rapid digitization, especially in the developing countries such as China, Indonesia, and India. According to the Internet & Mobile Association of India (IAMAI), the country was home to over 504 million internet users as of November 2019. Further, the organization found that there was a 12% rise in the number of internet users in the country from March to November 2019.

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