Demand for Incorporation of AI in Agriculture Set to Boom in Asia-Pacific in Future

Globally, the AI in agriculture market will demonstrate the highest growth rate in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. The rate of usage of smart agriculture methods such as agricultural robots, precision farming, and drone analytics is predicted to increase sharply, especially in the developing nations such as Thailand, Indonesia, and China in the future years.

Depending on type, the AI in agriculture market is divided into service and product. Between these, the product category recorded higher growth in the market in the past years. Moreover, in the near future, the mushrooming utilization of AI-based software would propel the market advancement across the globe. This category is further classified into software and hardware, between which, the hardware division registered higher growth in the market in the past. 

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The rising requirement for higher crop yield and agricultural produce, on account of the increasing disposable income of people in several countries such as India, China, Brazil, and the U.S., changing consumer preferences, surging population, and rapid urbanization, is pushing up the demand for the incorporation of artificial intelligence (AI) in agriculture.

Moreover, due to the growing demand for food products, major agricultural nations are increasingly leveraging AI solutions and systems for increasing the agricultural productivity. This market research report provides a comprehensive overview of the AI in agriculture market

• Historical and the present size of the AI in agriculture 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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Women Workforce To Boost U.S. Beauty and Personal Care Products Market

The increasing sales through e-commerce platforms, growing geriatric population, and rising number of working women will drive the U.S. beauty and personal care products market growth at a CAGR of 4.8% during the forecast period of 2020–2030. At this rate, the revenue will increase from $81.1 billion in 2019 to $128.7 billion in 2030. Additionally, the growing incidence of skin diseases, rising expenditure on personal care, and shifting focus toward chemical-free and organic products will aid the expansion of the market.

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The increase in the number of working women in the U.S. is also a significant factor that will drive the U.S. beauty and personal care products market growth during the forecast period. The U.S. Bureau of Labor Statistics published an article that states that the number of women in the U.S. workforce is expected to reach 92 million in 2050 from 66 million in 2000. Moreover, the records state that as of 2019, 46% of the women in the U.S. were part of its workforce, which was greater than the global average that stood at 39%.

The presence of several market players offering a varied range of premium, standard, and mass products makes the U.S. beauty and personal care products market highly fragmented. To consolidate their market position, the major players are acquiring firms that offer better products and can help them in expanding their reach. For instance, Shiseido Americas Corporation, a unit of Shiseido Company Limited, completed the acquisition of a rapidly growing skincare brand— DRUNK ELEPHANT — in October 2019to strengthen its presence in the U.S. skincare industry.

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Therefore, the availability of a wide range of products and increasing income of women in the U.S. will boost the growth of the country's beauty and personal care industry in the future.

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U.S. Advanced Driver-Assistance Systems Market is Expecting Major Tech Revolution in Near Future

The need for increasing safety and security of vehicles, for the sake of both drivers and pedestrians, is increasing day by day all over the globe, including the U.S. As per the Association of Safe International Road Travel, over 38,000 people die in crashes every day on roadways in the U.S. In addition to this, about 4.4 million people are injured enough to need medical intervention. The country suffers from 50% more road crash deaths among all high-income countries, which further increases the cost of dealing with these situations. Because of these factors, the auto manufacturers are increasingly involved in coming up with advanced solutions that can increase the safety of vehicles.

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One such solution is the integration of advanced driver assistance systems (ADAS) in cars. ADAS is utilized for describing the different safety features that are being integrated in vehicles to enhance driving experience by decreasing the severity and number of vehicle crashes. The system can warn the driver and further intervene for helping the driver to remain in control of the vehicle in case the possibility of an accident arises. In addition to this, if the accident cannot be avoided, ADAS can ensure that its severity is decreased.

Attributed to such advantages, the U.S. ADAS market is expected to grow at a substantial rate in the near future. ADAS can be integrated in medium & heavy commercial vehicles, passenger cars, and light commercial vehicles. The system consists of a number of sensors, including laser sensor, ultrasonic senor, radar sensor, light detection and ranging sensor, and infrared sensor. Out of all these, the demand for radar sensors is predicted to be the highest in the coming years, which can be ascribed to the increasing applications in autonomous and connected vehicles and reducing cost of these sensors.

Hence, the demand for safety of roads is leading to the growing adoption of ADAS in the U.S.

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Why is Electric Toothbrush Market Growing Explosively in Asia-Pacific?

The global electric toothbrush market generated a revenue of $2.7 billion in 2019 and is predicted to progress at a CAGR of 5.7% between 2020 and 2030. According to the estimates of the market research company, P&S Intelligence, the market would attain a valuation of $4.8 billion by 2030. The key factors driving the progress of the market are the growing public awareness about the various benefits of electric toothbrushes and unhealthy dietary habits of people around the world.

Some of the most highly prevalent unhealthy eating habits are the consumption of sugar-rich foods, tobacco, and alcohol. These consumption habits have detrimental effects on the oral hygiene of a person. Moreover, these habits are pushing up the requirement for smart toothbrushes, which is, in turn, fueling the sales of electric toothbrushes. For example, as per the IDF Diabetes Atlas 2019, the worldwide incidence of diabetes in people in the age group- 20–79 years was nearly 463 million.

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When head movement is taken into consideration, the electric toothbrush market is divided into rotation/oscillation and sonic/side-by-side. Between these, the sonic/side-by-side category recorded higher growth in the market in the past years, both in terms of value and volume. These toothbrushes usually vibrate at a 24,000–40,000 strokes per minute frequency. This kind of powerful vibration makes these toothbrushes more effective than the rotating/oscillating ones. Globally, the market would register the highest CAGR in Asia-Pacific (APAC) in the forthcoming years.

Market Segmentation by Bristle

·         Soft

·         Nanometer

Market Segmentation by Head Movement

·         Sonic/Side-by-Side

·         Rotation/Oscillation

Market Segmentation by Product Type

·         Rechargeable

·         Battery

Market Segmentation by Distribution Channel

·         Supermarkets/Hypermarkets

·         Pharmacy/Drug Stores

·         Online Platforms

·         Others

Market Segmentation by End User

·         Adults

·         Children

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Flourishing Cold Chain Industry Driving Demand for Industrial Refrigeration Systems

The rapid expansion in the global cold chain industry is fueling the demand for industrial refrigeration systems across the world. The mushrooming sales of medicines is the biggest factor responsible for the growth of the worldwide cold chain industry. According to reports, the sales of biotech drugs and biologic products surpassed $340 billion valuation in 2019 and are predicted to rise even more in the coming years.

This is pushing up the requirement for special logistics solutions. These solutions are required to maintain the quality of temperature sensitive products such as those that need to be stored in the temperature range of 2–8 °C, during their shipping from manufacturing zones to pharmacies, clinics, patients, and hospitals across the world.

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The ballooning consumption of these temperature-sensitive products in both developing and developed countries is driving the demand for cold chain in the pharmaceuticals industry. This is subsequently augmenting the requirement for industrial refrigeration systems. Because of the aforementioned reasons, the demand for industrial refrigeration systems is rising rapidly across the globe.

This is, in turn, propelling the advancement of the global industrial refrigeration systems market. As a result, the market revenue is predicted to grow from $26.8 billion to $41.1 billion from 2019 to 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 5.0% between 2020 and 2030.

This market research report provides a comprehensive overview of the industrial refrigeration systems market

• Historical and the present size of the industrial refrigeration systems 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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How is Rising Incidence of Road Accidents Driving Progress of Indian Car Airbag Market?

The rising prevalence of road accidents and the increasing awareness amongst the people about passenger and vehicle safety are some of the key factors fuelling the rising demand for airbags in cars in India. The vehicular population in the country has tripled over the last decade and this is one of the major factors responsible for the heavy road traffic congestion in the country. Moreover, the negligible growth in the road density in many cities and towns has contributed significantly toward the increasing incidence of road accidents in the country.

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The other major factor responsible for the rising incorporation of airbags in cars in India is the presence of stringent government policies pertaining to the adoption of airbags in cars in the country. Owing to the increasing number of road accidents, the government and various other regulatory bodies are increasingly enacting strict measures and regulations for mandating the adoption of airbags, even in the low and medium-range cars in the country. Due to these factors, the Indian car airbag market is predicted to register huge growth during the forecast period (2020—2030).

There are two main car airbag distribution channels in the country— the original equipment manufacturers (OEMs) and the automobile aftermarket. Of these, the OEMs recorded higher sales of airbags during the historical period and this tend is also expected to continue during the forecast period. This is primarily attributed to the presence of strict government regulations mandating the incorporation of airbags in certain vehicles in the country. However, as per many surveys and studies, the aftermarket distribution channel is expected to record faster rise in popularity and thus, faster growth in the Indian car airbag market during the forecast period.

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Hence, it can be said with certainty that the adoption of airbags will shoot-up in the cars in India in the upcoming years, on account of the rising incidence of road accidents and increasing enactment of policies and regulations aimed at promoting the adoption of airbags in cars in the country by the government and other regulatory bodies.

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Immediate Short-Term Impact of COVID-19 Pandemic on Electric Vehicle Industry

 Due to the rising pollution and increasing public awareness about the toxic emissions released from fossil fuel-powered vehicles, the global electric vehicle market has observed a sharp surge in recent years. Moreover, the enhanced safety and comfort provided by the electric vehicles and the implementation of several favorable government initiatives in many countries have caused the rapid advancement of the market during the last few years, especially from 2014 to 2019.

Due to this expansion, the global electric car fleet in 2019 recorded a growth of over 40% from 2018 and later surpassed 7.2 million units at the end of the year. According to reports, 2.1 million units of electric vehicles were sold all over the world in 2019. Many industry experts predicted that 2020 would be an even better year for the market. However, the COVID-19 pandemic had other plans.

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According to the forecast of the market research firm, P&S Intelligence, the market would register a fall of as much as 43% from the previously expected pre-COVID forecast for 2020. Furthermore, the sales of electric vehicles would fall to only 1.8 million units in 2020, which is a considerable reduction from the global sales observed in 2019. China, which is the biggest electric vehicle market in the world, recorded a huge fall in electric vehicle sales because of COVID.

Hence, it is safe to say from the above paragraphs that the COVID-19 pandemic has significantly affected the progress of the market and as a result, the market would now fall sharply all over the world in the coming months. However, the market would rebound strongly once the COVID situation improves and start exhibiting rapid expansion throughout the world.

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