Why Is Internet of Things Key Enabler of Smart Home Healthcare Solutions?

 Gone are the days when people had to visit the doctor every time they wanted a consult or get themselves tested for routine stuff, such as heart rate, blood glucose, and blood pressure. With connected devices and the internet of things (IoT), such things can be done at home. Connected devices, such as smartwatches and multiparameter monitors, track several aspects of health and fitness and automatically transmit the data to the doctor via the internet. This way, people don’t even have to visit the doctor to get their lab results analyzed.

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Smart home healthcare solutions are especially useful for older people (65 years and above), 1.5 billion of whom would inhabit the earth by 2030, compared to 703 million in 2019, as per the United Nations. Not only do the elderly suffer from more diseases than younger people, but they are also physically weak, which is why it is not possible for them to make repeated doctor visits. In addition, having their health and fitness parameters monitored and delivered to the doctor right from their home also helps them in saving on healthcare expenditure. 

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Fall detection and prevention, health status monitoring, safety and security monitoring, nutrition/diet monitoring, memory aids, and several other smart home healthcare solutions are available presently. Among these, health status monitoring solutions are the most popular, as these are easy to deploy and give a basic idea of a person’s health. With the increasing consciousness about personal wellbeing, people are increasingly tracking their heart rate, number of steps walked and calories burned, and sleep quality.

Presently, the largest contribution to the smart home healthcare market is made by North America, which boasts a higher per capita income, thereby leading to high sales of such expensive solutions. Moreover, a number of companies offer such solutions in the region, and several new smart home healthcare products are being launched, driven by R&D. Along with North America, the adoption of the concept will increase quickly in Asia-Pacific (APAC), because numerous major consumer electronics companies offer these. In addition, the smartphone penetration, health consciousness, and disposable income are increasing here.

Hence, as more people become aware about the innovative applications of connected devices and smartphones for personal wellbeing, the demand for smart home healthcare solutions will burgeon.

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Why will Demand for Charcoal Briquettes Surge in South Africa in Coming Years?

The rich tradition of barbecue food is one of the main factors responsible for the growing sales of charcoal briquettes in South Africa. The people residing in this country love preparing barbecue food items on their own. During get togethers, parties, and other occasions, people like preparing barbecued food items, especially during the summers. Because of this tradition, the requirement for barbecue fuel such as charcoal briquettes is always high in the country. 

Moreover, the country is one of the most favorite destinations for international tourists in the African continent. As per reports, as many as 10.4 million international travelers generated nearly $6.0 billion revenue from tourism activities in the country in 2019. Therefore, it can be said that the charcoal briquettes are not only used by the locals but they are also hugely popular among travelers, especially those wanting to try barbecue foods. 

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Apart from the aforementioned factors, the reducing prices of the charcoal briquettes are also positively impacting the growth of the South African charcoal briquettes market. People living and working there prefer these materials for cooking over other cooking fuels such as kerosene and liquified petroleum gas (LPG), because of their lower prices. As charcoal briquettes are made using various leftover materials (leftover powder after charcoal production), they cost lesser and are more affordable than the traditionally used cooking fuels.

Out of these, the barbecue category recorded the highest growth in the South African charcoal briquettes market in the past and this trend is likely to continue in the forthcoming years as well, primarily because of the surging tourism activities and the increasing number of international travelers in the country. Tourists come here for experiencing the country’s rich culture, soul-satisfying cuisines, and scenic landscapes. According to South African Tourism, 29.0 million overnight trips were recorded in the country in 2019.

Hence, it can be safely concluded that the demand for charcoal briquettes would surge in South Africa in the upcoming years, mainly because of the ballooning popularity of barbecued food items in the country.

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Booming Tourism Sector Fueling Burgeoning Demand for Facility Management in Kuwait

With the rapid expansion of the hospitality industry, the demand for facility management services is growing explosively in Kuwait. The flourishing tourism sector is generating huge demand for clean premises, which is, in turn, pushing up the requirement for facility management services and solutions in the country. Moreover, the government is launching initiatives and taking measures such as encouraging investments from private players, expanding the capacities of airports, and developing new attractions for boosting the tourism industry.

Besides the aforementioned factor, the surging infrastructural development projects are also fueling the surge in the demand for facility management services in the country. Due to the soaring investments being made in various projects such as those related to processing facilities, oil and gas extraction, malls, and residential units, the requirement for facility management services is rising rapidly in the country. Additionally, many real estate development organizations in Kuwait are rolling out their facility management affiliates.

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Due to the above-mentioned factors, the popularity of facility management services is ballooning in Kuwait. This is fueling the expansion of the Kuwait facility management market. As a result, the market revenue is predicted to increase from $958.2 million in 2019 to $2,057.5 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 8.3% between 2020 and 2030. Based on end user, the market is divided into residential, commercial, and industrial categories.

Out of these, the HVAC maintenance services will demonstrate the fastest growth in the Kuwait facility management market in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. The main factor driving the advancement of the market is the presence of extreme weather conditions in the country that generate a huge demand for the renovation and refurbishment of the existing equipment in the commercial and industrial buildings for enhancing their efficiency. 

Hence, it is safe to say that the demand for facility management services will soar in Kuwait in the future years, primarily because of the rapid expansion of the tourism and hospitality sectors in the country.

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What Are Investment Opportunities in Wind Tower Market?

The strongest factors leading to the growth of the wind tower market are the increasing government support for wind farms, rising capacity of such installations, and surging need for geopolitical energy security and energy independence. As a result, the industry revenue, which stood at $26,140.5 million in 2015, is projected to increase at a 7.4% CAGR during 2016–2022 (forecast period). A wind tower is the main support system for the wind turbine and other components of a windmill, including the generator.

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The tower type segment of the wind tower market is categorized into concrete towers, tubular steel towers, lattice towers, hybrid towers, and guyed pole towers. Among these, the industry was dominated in 2015 by the tubular steel towers category, which will keep holding the largest share till 2022. This is attributed to the cost-effectiveness and strength of these variants. As the tower costs make up for around 30% of the windmills’, having a cost-effective tower is essential to produce electricity cheaply and sell it at reasonable per-unit prices.

A prominent trend in the wind tower market is the opportunities being created for skilled laborers. As the renewable energy sector is growing, an increasing number of people with expertise in civil engineering, electrical engineering, and mechanical engineering are finding employment. Governments and private companies around the world are investing heavy sums in the wind power sector to reduce the rate of environmental degradation and dependence on oil, natural gas, and coal to produce electricity.

In 2015, Asia-Pacific (APAC) was the largest wind tower market as a result of the increasing capacity of wind power plants to cater to the rising demand for electric power. China and India are among the largest wind energy producers on earth, and many more wind power plants are under various stages of commissioning in these countries. The Middle East and Africa (MEA) would grow the fastest during the forecast period due to the lower penetration of wind power here, which will offer market players immense opportunities for expansion.

Hence, the installations of wind towers are set to keep rising, as the focus on renewable energy becomes stronger.

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How Are Eating Habits Impacting Charcoal Usage?

Growing preference for barbecue foods has increased the consumption of charcoal worldwide. This is due to the alteration in taste and preference for new cooking styles. Moreover, application of live barbecue stations at residential households and restaurants for cooking will fuel the growth of the charcoal market in coming years. Furthermore, the application of these stations is rising in developing countries, like India and China, owing to the augmenting preference for grilled and smoked food.

Owing to this changing lifestyle and food preference, the charcoal market size is projected to increase its revenue size from $5,882.8 million in 2018 to $6,566.5 million by 2024. According to P&S Intelligence, the market will progress at a CAGR of 1.9% during 2019–2024. Besides, silicon producers will replace coal with charcoal in the production process to curtail carbon dioxide emission. For instance, companies such as Simcoa Operations Pty. Ltd. and Elkem ASA are already utilizing charcoal to produce silicon and developing technologies to entirely replace coal with charcoal, while keeping the quality intact.

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Due to the widening application base of charcoal, the demand for lump charcoal, charcoal briquettes, and sugar charcoal is escalating in the charcoal market growth. In 2018, lump charcoal was used in the highest volume, as it burns faster, achieves higher temperature, and produces less ash than the other types. Additionally, the adoption of charcoal briquettes is also increasing due to its low ash content and high-calorific value. Further, the application of sugar charcoal will rise in future, due to its usage in the preparation of artificial diamonds.

Thus, the rising preference for barbecue foods and the increasing number of water treatment plants will augment the charcoal market in foreseeable future.

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How Is Recycling of Solar Panels Impacting Environment?

Solar panels are made up of aluminum, silicon, glass, and synthetic materials, which can be separated through the recycling process, after the completion of the lifecycle of the panels. These panels are installed in several residential and commercial facilities, to offer electricity by using solar power. Their installation has escalated in recent years due to the depletion of fossil fuel reserves, a surge in the consciousness regarding environment preservation, and escalation in the power demand. Moreover, favorable government regulations regarding sustainable development have led to the widespread adoption and recycling of these panels.

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Currently, most of these solar panel recycling plants are adopting the mechanical process for recycling polycrystalline, monocrystalline, and thin-film panels. This is because the mechanical process is more efficient and environmentally safer than the thermal and laser techniques. These plants are recycling more thin-film solar panels every year, due to the rapidly rising installation of these panels on account of their low weight, flexibility, and temperature resistance, though monocrystalline panels still account for the highest overall recycling rate.

The shelf life segment of the solar panel recycling market is categorized into normal loss and early loss. The average age of solar panels is 30 years; however, some may suffer an early loss, which results in the generation of a large quantity of e-waste containing harmful substances. During the historical period (2013–2017), the early loss category held the larger market share due to the early degradation of solar panels on account of unfavorable weather conditions, maintenance issues, and lack of product standardization.

Thus, the surging adoption of solar power systems, escalating concerns regarding e-waste management, and growing consciousness about sustainable development are increasing the solar panel recycling rate.

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How Does Hydrogen Enhance Oil Processing?

The fertilizer industry uses high-volume of hydrogen to manufacture fertilizers, especially ammonia that is used to create nitrogen-based fertilizers. Ammonia is widely used in agricultural activities to maintain crop nutrition and increase productivity. Due to the declining area of arable land, the requirement for ammonia has grown significantly. Owing to this demand, the hydrogen market is expected to increase its size from $136,185.0 million in 2019 to $196,934.5 million by 2030. According to P&S Intelligence, the market will accelerate at a CAGR of 4.3% during the forecast period (2020–2030).

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Apart from this, hydrogen is used to separate sulfur compounds from crude oil and break long-chain hydrocarbons into short chains during the production of gasoline. Moreover, the surging demand for sour crude oil is fueling the need for hydrogen, as it requires extensive processing. Besides, stringent environmental regulations to decrease sulfur in oil are escalating the consumption of hydrogen at oil refineries. For example, in January 2020, the International Maritime Organization (IMO) enforced an additional 0.5% global cap on the sulfur content in fuel. This limit is in addition to the earlier limit of 3.5%.

Geographically, the Asia-Pacific (APAC) hydrogen market is expected to consume hydrogen at a fast pace in coming years. This can be ascribed to the high economic growth and rapid establishment of production units of several end-use industries, such as chemical, electronics, and petrochemical, in the region. Moreover, the expansion of refinery and metal processing sectors in emerging economies of the region, such as India and China, on account of support from government and non-government organizations, will fuel the demand for hydrogen.

Thus, the expansion of oil refineries and fertilizer industry will fuel the consumption of hydrogen in coming years.

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