Revenue Boom Expected in Global Micromobility Telematics Market Between 2021 and 2030

The global micromobility telematics market revenue stood at $957.7 million in 2020, and the market is predicted to advance at a CAGR of 26.7% from 2021 to 2030. Furthermore, the market will reach a value of $13,010.4 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The market is being driven by the large-scale adoption of micromobility solutions all over the world. 

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With the increasing adoption of network services, smartphone connectivity, fleet optimization, and locking mechanisms into these services, the market will register rapid expansion in the coming years. Besides these, the burgeoning requirement for first- and last-mile transportation is also fueling the advancement of the micromobility telematics market around the world. Micromobility services provide mobility solutions for shorter distances, which, in turn, bridges the gap existing in first- and last-mile transportation.

These services are generally required for covering a distance of less than 5 km (3.1 miles) per trip. Furthermore, these services are majorly provided via the station-less or dock-less model, that allows users to leave the vehicle after use at any location as per their convenience. This is massively improving first- and last-mile traveling. Another major factor driving the expansion of the micromobility telematics market is the huge investments being made in the industry by top investors across the world. 

Globally, the Asia-Pacific (APAC) region dominated the micromobility telematics market in 2020. This was attributed to the huge investments received by various regional micromobility telematics firms and the emergence of several technology start-ups in the region. Furthermore, the industry players operating in this region are increasingly focusing on offering affordable micromobility solutions in order to gain the first-mover advantage. This is massively propelling the expansion of the market in this region.

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Hence, it is safe to say that the market will exhibit huge expansion in the years to come, primarily because of the surging adoption of micromobility solutions, soaring requirement for first- and last-mile connectivity, and the huge investments being made by various venture capitalists and investors in the industry. 

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Surging Demand for Bio-Based Packaging Fueling Global Green Chemicals Market Boom

The global market for green chemicals attained a valuation of $9,540.0 million in 2019 and it is predicted to generate a revenue of $18,474.2 million by 2030. Furthermore, the market will progress at a CAGR of 6.6% between 2020 and 2030, as per the forecast of the market research company, P&S Intelligence. The major factors driving the advancement of the market are the growing popularity of bio-based packaging and the rapidly depleting reserves of fossil fuels around the world. 

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In recent times, there has been a sharp surge in the popularity of various bio-based packaging materials, on account of their highly eco-friendly nature. These materials are made from renewable and environment-friendly sources such as animal wastes and plants. Moreover, these materials are non-toxic, have low production costs, need less raw materials for their production, and can be disposed easily, which, in turn, helps in reducing the overall carbon footprint.

Globally, the green chemicals market is predicted to exhibit rapid expansion in the Asia-Pacific (APAC) region in the coming years. This will be because of the burgeoning requirement for these chemicals in various end-use industries such as automotive, agriculture, and personal care and the growing public awareness about the several advantages of using these chemicals over the traditional synthetic ones, especially in the emerging economies such as China and India. 

Hence, it can be said with full surety that the market will demonstrate huge expansion across the world in the coming years, mainly because of the growing demand for eco-friendly chemicals and the rising public awareness about the environmental degradation caused due to the usage of synthetic chemicals.

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How Is Cosmetics Industry Influencing Bismuth Nitrate Market Growth?

The largescale adoption of bismuth nitrate over other derivates of bismuth and rapid growth of the pharmaceutical sector will drive the market for bismuth nitrate at a CAGR of 5.1% during the forecast period (2020–2030). The market was valued at $190.6 million in 2019 and it is expected to reach $287.7 million by 2030. Additionally, the increasing adoption of the compound in the cosmetics industry for the production of hair sprays, nail polishes, eye shadows, and lipsticks has become a key market trend.

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Moreover, the growing inclination toward bismuth nitrate over other derivatives of bismuth will facilitate the market growth in the coming years. In recent years, largescale manufacturers have increased their focus from bismuth oxychloride, bismuth hydroxide, bismuth subsalicylate, and bismuth sub carbonate to bismuth nitrate, owing to the high suitability of the compound to serve as a suitable reactant for selective oxidation of sulfides to form sulfoxides. Besides, the low cost and easy-to-handle features of the compound have also accounted for its higher popularity over other derivatives.

Geographically, the Asia-Pacific bismuth nitrate market generated the highest revenue in 2019, and it is expected to continue its dominance during the forecast period. This is due to the rising R&D investments in the pharmaceutical industry to develop medications for diseases, which do not have any cure, at present. Moreover, the increasing prevalence of cancer in the region also facilitates the market growth. Cancer patients require pain-relieving drugs in large quantities and the requirement for such medicines will accelerate the demand for bismuth nitrate in the future.

Thus, the increasing usage of bismuth nitrate in the pharmaceutical and medical industries will boost the market growth in the coming years.

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Why will Sales of Chlorine Rise in Asia-Pacific in Future?

Growth drivers like soaring demand for polyvinyl chloride and increasing consumption of chlorine for water treatment applications will escalate the market for chlorine at a CAGR of 5.2% during 2020–2030. The market stood at $36,845.0 million in 2019 and it is projected to reach $63,121.6 million by 2030. Moreover, the adoption of this compound for treating water used for irrigation purposes and swimming pools, is increasing. Additionally, governments across the world are taking initiatives to regulate the supply of safe, treated, and clean water, thereby, facilitating the market growth.

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The widescale applications of PVC in siding and piping in the building and construction sector, windshield system components in the automotive industry, and non-breakable containers in the medical industry will fuel the chlorine market in the foreseeable years. Increasing utilization of PVC in several end-use industries can be owed to the various advantageous features of PVC such as high melt viscosity and improved thermal stability. The production of PVC requires high volume of chlorine during the chlorination process, which, in turn, drives the demand for the compound.

The application type segment of the market is categorized into ethylene dichloride (EDC)/PVC, solvents, inorganic chemicals, chloromethanes, and isocyanates & oxygenates. Among these, the EDC/PVC category dominated the market in 2019 and it is expected to continue its dominance throughout the forecast period. This is ascribed to the widescale application of chlorine in the chlorination process for the production of EDC/PVC. With the amplifying demand for EDC/PVC in end-use sectors like building and construction, electrical and electronics, and automotive, the demand for this chemical will rise in the coming years.

Geographically, Asia-Pacific generated the highest revenue in the chlorine market in 2019, and it is expected to maintain its dominance in the forecast period as well. This can be ascribed to the high-volume consumption of chlorine in emerging economies of India, Thailand, and China for the production of EDC/PVC. These products are mostly used in the electrical and electronics, automobile, and building and construction sectors. Moreover, the amplifying usage of the compound in water treatment plants and pharmaceutical industry will give an impetus to the regional market growth.

Thus, the rising awareness regarding water-borne diseases and the increasing usage of PVC in several end-use industries will fuel the demand for chlorine in the future.

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Huge Revenue Jump Expected in Global Automotive OTA Updates Market During 2021–2030

The global automotive over-the-air updates market attained a revenue of $2,422.6 million in 2020, and it is predicted to progress at a CAGR of 19.5% between 2021 and 2030. Furthermore, the market will reach a valuation of $13,859.5 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The factors driving the market advancement are the growing deployment of electric vehicles (EVs) and connected cars across the world. 

The increasing deployment of these vehicles is pushing up the requirement for OTA updates, as these vehicles are heavily reliant on the software for their efficient functioning. Moreover, many original equipment manufacturers (OEMs) are making huge investments in OTA upgradation technologies for making it easier for the vehicle owners to update the software of their vehicles. The simplification of the automotive software upgradation process is propelling the growth of the automotive OTA updates market.

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Furthermore, the surging rate of automotive digitalization is pushing up the demand for regular software updates, including updates for cybersecurity solutions. Instead of sending the vehicle to the garage, it is more economical to install these software updates wirelessly or OTA. OTA updates enhance the functionality and facilitate an internet of things (IoT)-integrated environment, which, in turn, makes it very easy to launch new features and protect the devices against data breaches, hacking, and various other types of cyberattacks. 

Another major factor fueling the advancement of the automotive OTA updates market is the increasing implementation of stringent vehicle safety regulations in several countries, because of the rising incidence of road accidents. Automotive manufacturing companies all over the world have always prioritized vehicle safety and with the enactment of vehicle monitoring standards and safety regulations, it has now become imperative for them to make their products compatible with the vehicle standards.

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Therefore, it can be said with full surety that the market will demonstrate rapid expansion in the forthcoming years, mainly due to the increasing deployment of electric vehicles and connected cars and the surging implementation of strict vehicle safety policies by various governments around the world. 

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Why will Demand for Retail E-Commerce Packaging Shoot Up in Middle East and Africa in Future?

The mushrooming demand for various consumable and non-consumable products, on account of the surging global population, is pushing up the requirement for retail e-commerce packaging solutions across the world. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world is soaring rapidly. It is predicted to grow from 7.6 billion in 2019 to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100 respectively. 

Additionally, the increasing penetration of the internet and the growing usage of smartphones are fueling the demand for retail e-commerce packaging solutions across the world. This is because the rapid expansion of digital industries such as the e-commerce industry, on account of the soaring internet penetration, is positively impacting the demand for various packaging materials. Apart from these factors, the ongoing COVID-19 pandemic is also fueling the growth of the retail e-commerce packaging market around the world. 

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As per the World Trade Organization, the imposition of lockdowns, social distancing, and several other protective measures for controlling the spread of the infection in various countries has caused a sharp surge in various online shopping activities, teleconferencing and web conferencing usage, film and video streaming, and social media usage. This has, in turn, propelled the business-to-customer (B2C) sales of household essentials, food products, and medical supplies all over the world.

Across the globe, the Middle East and Africa retail e-commerce packaging market is predicted to demonstrate the fastest growth in the upcoming years. This will be a result of the implementation of various government policies in the regional countries such as the U.A.E. and Saudi Arabia for reducing the economic dependence of these countries on the oil and gas industry and fueling growth in various other sectors such as e-commerce. 

Hence, it can be said with surety that the demand for retail e-commerce packaging will shoot-up across the world in the coming years, primarily because of the burgeoning requirement for different consumable and non-consumable products and the increasing popularity of e-commerce in various countries. 

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Revenue Explosion Expected in Global Automotive Busbar Market Between 2021 and 2030

The global automotive busbar market reached a value of $17.4 million in 2020, and it is predicted to progress at a CAGR of 24.6% between 2021 and 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market will generate a revenue of $177.1 million in 2030. The surging deployment of electric vehicles (EVs) in several countries is a key factor driving the expansion of the market.

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This is primarily because busbars are extensively used in EVs, as traditional cell connections such as strips, lugs, and welded wires are extremely prone to failure due to the dislocation of the cells because of the vibrations caused by a moving automobile. Moreover, busbars have low thermal and electrical resistance and are thus, used heavily in EV manufacturing processes. Besides these, the soaring usage of plug-in hybrid EVs (PHEVs) is also fueling the worldwide demand for automotive busbars.

Many automakers such as BMW AG, Tesla Inc., and Hyundai Motor Company are increasingly focusing on manufacturing EVs, thereby positively impacting the market expansion across the world. The other factors fueling the market growth are the operational benefits and lower costs of busbars than cables. Busbars reduce the assembly time, which, in turn, curtails the internal manufacturing and material handling costs. Additionally, they are widely preferred in motor control center applications, due to their ability to provide ease of retrofitting. 

Because of the aforementioned factors, automobile manufacturers are increasingly preferring busbars over cables. Depending on conductor, the automotive busbar market is divided into aluminum and copper. Between these, the copper category accounted for majority shares in the market in 2020. This was because of the large-scale usage of copper as a conducting material in busbars, on account of its high electrical conductivity, non-magnetic and easily machinable characteristics, and high corrosion resistance. 

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Hence, it can be safely said that the market will register huge expansion in the coming years, primarily because of the growing deployment of EVs and EV charging stations in several countries around the world. 

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