Rising Incidence of Chronic Diseases to Augment Healthcare Insurance Market Growth

 From valuing $1.7 trillion in 2018, the global healthcare insurance market is predicted to reach $2.2 trillion by 2024, registering a 4.3% CAGR during the forecast period (2019–2024). The factors positively influencing the market growth are the high medical costs, rising prevalence of chronic diseases, surging geriatric population, and the growing gross domestic product (GDP) and healthcare expenditure across the globe. Healthcare insurance covers the surgical and medical expenses of a policy owner. It reimburses the treatment cost of a patient incurred due to an injury or an illness.

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The categories of the healthcare insurance market based on insurance network are home maintenance organization (HMO), point of service (POS), preferred provider organization (PPO), and exclusive provider organization (EPO). In the forecast period, the largest category is expected to be of the EPO with a contribution of $0.9 trillion revenue by 2024. This can be mainly ascribed to the fact that this insurance network covers a large number of physicians and offers low-cost consultation and premiums. The fastest growing category would be PPO, which allows the flexibility to choose the physician outside the network.

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The healthcare insurance market is growing due to the rising number of product launches that offer benefits to customers. For instance, by 2020, Anthem Inc. is planning to launch its own Pharmacy Benefit Manager — IngenioRx. Additionally, CVS Health Corporation has entered into a five-year agreement with the company, where the former would manage certain services, such as prescription fulfillment and claims processing, for IngeionRx. In another example, Cigna Corporation and Express Scripts Holdings entered into a partnership in December 2018, and launched a program, “Healthier Kids for Our Future”, aimed at improving the health and well-being of children.

Therefore, the market for healthcare insurance is expected to witness a significant growth in the forecast period, as the incidence of chronic diseases and cost of healthcare services continue to rise.

This Study Covers

• Historical and the present size of the healthcare insurance market

• 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 healthcare insurance market segments and understand their comparative future potential

• Major players operating in the market and their service offerings

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Customized Offerings Projected to Drive U.S. Mattress Market

The U.S. mattress market is predicted to generate a revenue of $22,519.9 million by 2030, increasing from $15,728.8 million in 2019, progressing at a 3.5% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The major factors leading to the growth of the market are the rising infrastructure investments in the residential sector and rapidly expanding tourism industry of the country. On the basis of product, the market is divided into latex, memory foam, and innerspring.

Out of these, the memory foam division is projected to register the highest CAGR during the forecast period. The emergence of the direct-to-customer (DTC) model is primarily causing the shift in preference from innerspring to memory foam mattresses. These mattresses can be rolled in a box, which is also called a bed-in-a-box, and the concept has gained immense popularity in recent years among customers. It has been estimated that more than 200 DTC companies are currently operating in the U.S.

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A major trend that is being observed in the U.S. mattress market is the increasing consumer preference for customized mattresses. Manufacturers in the industry, such as Tempur Sealy International, have now started offering the option of customization to customers. They can now choose the firmness, thickness, and size of the mattress as per their convenience. Since the physical attributes of people vary greatly, customized solutions make for better options for people.

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Hence, the market is growing due to the expanding construction industry and rising preference for customized mattresses in the country.

 

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Cathode Material for Automotive Lithium-Ion Battery Market Worth US$ 377.8 Mn by 2030

The global cathode material for automotive lithium-ion battery market generated a revenue of $1,744.9 million in 2019 and is predicted to advance at a CAGR of 6.9% between 2020 and 2030. The market is expected to attain a valuation of $3,777.8 million by 2030. The growing usage of electric vehicles, rapid fall in the costs of cathode materials, and the growth of the energy storage battery industry are the key factors driving the advancement of the market.

With increasing environmental degradation and the deteriorating air quality levels in several countries, the deployment of electric vehicles is increasing rapidly. This is, in turn, pushing up the requirement for lithium-ion batteries, which is subsequently causing the expansion of the cathode material for automotive lithium-ion battery market. According to many reports, over 2.1 million electric cars were sold across the globe in 2019 and this number is predicted to rise beyond 130 million by 2030.

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Geographically, the cathode material for automotive lithium-ion battery market would demonstrate the fastest growth in the Latin America, Middle East, and Africa (LAMEA) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the fact that the total usage of the automotive lithium-ion batteries is predicted to rise from nearly 1.6 GWh in 2019to 7.6 GWh in 2024.

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Market Segmentation by Type

The research offers market size of the global cathode material for automotive lithium-ion battery market for the period 2014–2030.

• Lithium–Iron Phosphate (LFP)
• Lithium–Manganese Oxide (LMO)
• Lithium Nickel Cobalt Manganese/Lithium Nickel Manganese Cobalt (NMC)
• Lithium–Titanate Oxide (LTO)
• Lithium–Nickel–Cobalt–Aluminum Oxide (NCA)

Market Segmentation by Vehicle Type

• Two-Wheeler
• Passenger Car
• Commercial Vehicle

Market Segmentation by Vehicle Technology

• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

This study covers

• Historical and the present size of the Cathode Material for Automotive Lithium-Ion Battery Market

• 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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Why is Electric Vehicle (EV) Battery Swapping for Two- and Three-Wheeler Market Booming in Asia-Pacific?

The growing pollution levels in many countries are the primary factors fueling the popularity of electric vehicles. Moreover, the rising requirement for electric two- and three-wheelers in ride hailing and sharing services and the growing deployment of electric three-wheelers for goods and passenger transportation are pushing up the sales of electric two- and electric three-wheelers across the world. The lack of proper charging facilities and the frequent charging requirements of these vehicles pose big problems for vehicle owners.

As a result, many organizations are focusing on developing vehicles equipped with battery-swapping features. This eliminates the requirement for the ownership of batteries by the owners of the electric vehicles. Instead, the batteries are owned and supplied by the swapping service providers. The separation of the batteries from the electric vehicles reduces the costs of electric vehicles. This, in turn, makes the prices of electric vehicles either similar to or in some cases, lower than internal engine combustion (ICE) automobiles.

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Because of the aforementioned factors, the global EV battery swapping for two- and three-wheeler market is predicted to surge from 2020 to 2030. The growing popularity of electric scooter sharing service is a key factor fueling the progress of the market. These services have witnessed a sharp rise in popularity in North America in recent years. This is because these services offer better last-mile connectivity and hyper-localized services in comparison to other shared mobility services.

Across the globe, the EV battery swapping for two- and three-wheeler market is currently registering the highest growth in Asia-Pacific (APAC), as per the observations of the market research firm, P&S Intelligence. In this region, the market is presently booming in India and China, mainly because of the high population density and the high usage of two-wheelers in these countries. The market is also rapidly progressing in Taiwan, on account of the growing popularity of battery swapping in the country.

Hence, it can be said without any doubt that the market would demonstrate rapid expansion throughout the world in the forthcoming years, primarily because of the growing deployment of electric two- and three-wheelers and the rising requirement for battery swapping, on account of the lack of proper charging infrastructure and high prices of lithium-ion batteries, around the world.

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 The research offers market size of the Global EV Battery Swapping for Two- and Three-Wheeler for the period 2014–2030.

Market Segmentation by Service Type

• Pay-Per-Use Model
• Subscription Model

Market Segmentation byBattery Type

• Lead Acid
• Li-Ion

Market Segmentation by Vehicle Type

• Two-Wheeler
  • Pay-per-use model
  • Subscription model
• Three-Wheeler
  • Pay-per-use model
  • Subscription model

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Automotive Tire Market How Top Companies Adapted after COVID-19 Hit Its Business

 The increasing lifespan of automobiles is one of the major factors fuelling the demand for automotive tires throughout the world. The average life span of the vehicles across the world increased from 10.5 years to 12 years during 2010—2018, mainly on account of the increasing enactment of various regulations and policies by the governments of many countries and rising competition amongst the automobile manufacturing companies all over the world. The surging average life spans of vehicles have massively increased the mileage of the vehicles, which has in turn, amplified the incidence of wear and tear on the tires.

The flourishing automotive industry, especially in the Asia-Pacific (APAC) region is another important factor responsible for the soaring sales of automotive tires throughout the world. Driven by these factors, the revenue generated from the worldwide sales of automotive tires is expected to rise from 155.3 billion to 237.2 billion from 2018 to 2024. The global automotive tire market revenue is predicted to exhibit a CAGR of 7.7% during the forecast period (2019—2024).

Automotive tires are widely required in passenger cars, two-wheelers, medium and heavy commercial vehicles, and light commercial vehicles. Out of these vehicles, the passenger cars registered the highest demand for automotive tires in 2018. This is mainly credited to the ballooning sales of passenger vehicles all over the globe and the increasing disposable income of the people in several countries around the world. In addition to this, the rising popularity of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs) are further boosting the sales of automotive tires for passenger vehicles throughout the world.

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One of the prominent trends currently being observed in the automotive tire market is the rising requirement of high-performance, next-generation tires across the world. These tires have recorded a tremendous rise in popularity amongst the automotive companies, especially in the automotive aftermarket. These tires have high fuel-efficiency and generate less noise and have been traditionally used in the luxury passenger cars in the past. However, since the last few years, these tires have been increasingly adopted in CUVs and premium SUVs, mainly on account of the high speed and reliability needs of these vehicles.

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This study covers                                                  

• Historical and the present size of the automotive tire market
• Future potential of the market through its forecast for the period 2014-2024
• 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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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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