How Is Blockchain Technology Helping Automotive Industry?

Blockchain technology refers to a decentralized database that stores data in blocks that are chained together. The newly generated data is stored in a fresh block. After a block is filled with data, it is linked to the previous block, thereby enabling the storage of data in a chronological order. Since decentralized blockchains are immutable, data entered in blocks are reversible and cannot be accessed through unfair means, as it is extremely difficult to go back and alter the contents unless a consensus is attained among the majority. 

Automotive Blockchain Market

Owing to the high security offered by the blockchain technology, it is being increasingly adopted by the automobile industry, as huge volumes of data are produced in this sector. Moreover, the real-time monitoring, scalability of information, and auditability offered by this technology will also strengthen the automotive blockchain market in the coming years. In recent years, the blockchain technology has become an integral part of the information technology (IT) domain of the automobile sector. This technology is being used in mobility solutions, internet of things (IoT), connected cars, retailing and leasing, supply chain logistics, and autonomous driving applications.

At present, companies operating in the automotive blockchain market, such as Microsoft Corporation, BigchainDB GmbH, Productive Edge LLC, XAIN AG, IBM Corporation, ShiftMobility Inc., Oaken Innovations, Ripple Labs Inc., Tech Mahindra Ltd., Mesosphere Inc., Project Provenance Ltd., Factom Inc., Helbiz Mobility System PTE Ltd., Ethereum, Context Labs BV, carVertical, ConsenSys, and Accenture PLC, are offering advanced solutions to automakers to meet the rising customer demand. Moreover, the evolving operating models in various automotive functional areas and increased use of data for improving mobility and logistics services will augment the incorporation of blockchain solutions in the automotive sector.  

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/automotive-blockchain-market

Thus, the generation of huge volumes of data and rising need for scalability of information, real-time monitoring, and auditability in the automobile sector will augment the use of blockchain solutions in the foreseeable future.

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Wet Age-Related Macular Degeneration Market Projected to Have a Stable Growth for the Next Few Years

The growing prevalence of age-related macular degeneration (AMD), lack of specific treatment availability, and increase in geriatric population are driving the growth of the wet age-related macular degeneration market. The market is projected to generate revenue worth $10.4 billion in 2024, witnessing a CAGR of 7.1% during the forecast period (2019–2024).  AMD is a disease in which blurred vision or blindness occurs due to damage to the retina macula. Wet AMD is a type of AMD characterized by the growth of abnormal blood vessels under the retina and macula.

Based on the age group, the wet age-related macular degeneration market is categorized into drugs that are given to people aged 40–59 years, 60–80 years, and above 80 years. Out of these, in 2018, wet AMD drugs prescribed to people above 80 years of age contributed nearly 60.0% revenue to the market. Due to growing prevalence of the disease in the geriatric population, the market is expected to witness significant progress in the forecast period.   

Japan, Germany, Italy, and Portugal are among the nations with the largest population of elderly in the world. As older people are more prone to degenerative disorders, the increasing geriatric population in these countries is anticipated to contribute to the rising demand for drugs for wet AMD treatment, thus driving the wet age-related macular degeneration market during the forecast period.

Therefore, the surging geriatric population across the world is pushing the demand for drugs for treating wet AMD, resulting in the growth of the market.

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What are Reasons behind Growth of Hysteroscope Market?

 Due to their minimal invasive nature, the popularity of hysteroscopes is rising rapidly across the world. Moreover, the minimally invasive procedures conducted with the help of hysteroscopes are increasingly being preferred by people over the traditionally performed procedures. This is because no incisions are made during the minimally invasive procedures, unlike the conventional ones. Hysteroscopes are inserted into the vaginal cavity through the cervix and are then slowly put into the uterus for effectively diagnosing and treating the disease.

Additionally, the reduced time period of hospitalization and the low blood loss associated with hysteroscopy are further boosting its popularity across the world. Furthermore, hysteroscopy causes significantly lesser post operational discomfort than the conventional surgeries. This means that after hysteroscopy, patients can go back to their normal routines and resume their daily activities in a shorter period of time than after traditional surgeries. The other important factor positively impacting the sales of hysteroscopes is the surging female geriatric population.

Hence, it can be said with full surety that the demand for hysteroscopes will shoot-up across the world in the coming years, mainly because of the rising incidence of uterine-related diseases and infertility among women and the soaring population of geriatric women in various countries. 

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Surging Processed Food Consumption Fueling Antioxidant Demand

The increasing consumption of processed foods is driving the demand for antioxidants. As processed food items are high in carbohydrates, saturated fats, free sugars, sodium, and total fats and low in various essential nutrients such as vitamins, potassium, proteins, and fiber, their increasing consumption is responsible for several health problems such as low and high blood pressure. The rising prevalence of such health problems is fueling the demand for natural antioxidants, as these compounds protect the cells from the harmful effects of free radicals, which are present in processed foods.

Antioxidants Market Research Report

Vitamin C, vitamin A, vitamin E, carotenoids, and polyphenols are the most commonly consumed natural oxidants. On the other hand, butylated hydroxytoluene (BHT), tert-butylhydroquinone (THBQ), Propyl Gallate (PG), and butylated hydroxyanisole (BHA) are the most widely consumed types of synthetic antioxidants. Between the two types of antioxidants, the demand for natural antioxidants is predicted to be higher in the forthcoming years. This will be because of the several anti-ageing benefits of these products and the rising public awareness about healthy eating habits. 

Additionally, the increasing urbanization rate, soaring disposable income of people, and escalating working hours are also pushing up the demand for processed and fast foods, thereby powering the growth of the global antioxidants market. Antioxidants are basically substances that can mitigate the damage caused to other items because of oxidation. Food and beverage, cosmetics, feed additives, and pharmaceutical industries are the major application areas of antioxidants. Out of these, the use of antioxidants is predicted to be the highest in the food and beverages industry in the upcoming years.

Across the globe, the sales of antioxidants will surge sharply in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of the market research company, P&S Intelligence. 

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/antioxidants-market

Hence, it can be safely said that the demand for antioxidants will boom in the upcoming years, primarily because of the increasing consumption of processed foods across the world. 

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Increasing Vehicle Safety Awareness Driving Demand for Automotive Simulation Software

Automotive simulation is the usage of simulation software for model testing and prototyping of an automobile to ensure the complete functionality of the vehicle. In recent years, automakers have been increasingly using this software for vehicle testing because they are working on several models based on varying parameters, which need model testing before they are validated and finalized. In the coming years, advanced simulation software and related technologies will be largely used for autonomous cars, smart driving truck platooning, and fleet management. 

Automotive Simulation Market Research Report

The surging integration of simulation features in vehicles can be credited to the growing awareness about vehicle and passenger safety. Owing to this reason, the automotive simulation market will register considerable growth during 2020–2030. At present, simulation software developers and automotive original equipment manufacturers (OEMs) are actively focusing on research and development (R&D) activities to introduce advanced systems. To offer advanced solutions, OEMs are increasingly using the internet of things (IoT) technology in their safety systems.

Between the automotive simulation software and service, the demand for the latter is predicted to surge sharply in the upcoming years. This will be a result of the fact that many automakers all over the world are increasingly adopting consulting and design services in order to cater to the burgeoning requirement for process enhancement and product designs. This is subsequently fueling the advancement of the automotive simulation market across the world. 

According to P&S Intelligence, the Asia-Pacific (APAC) region will adopt this software at a rapid pace over the next few years. This is owed to the rapid industrial developments and booming automobile production and sales in regional countries, such as India, Japan, and China. Moreover, the integration of advanced parking assistance systems, telematics, and ley-less entry systems by automakers in their vehicles will also amplify the usage of such software in the APAC countries. 

Thus, the surging awareness about vehicle and passenger safety and mounting sales of conventional vehicles and EVs will create a huge requirement for automotive simulation software and services in the foreseeable future.  

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How Is Food and Beverage Sector Growth Fueling Industrial Lubricants Use?

The increasing industrial output in the emerging economies, such as India, Indonesia, China, Brazil, and Russia, has boosted the consumption of industrial lubricants such as process oil, engine oil, general oil, and metalworking fluid. In recent years, the production capacity of the consumer appliance, mining, metal forming, plastics industries of these nations has increased to a significant extent. The surging industrial output can be primarily owed to the advent of Industrial 4.0 and rapid urbanization in developing countries.

Besides, the flourishing food and beverage sector, on account of the changing lifestyle of the people and burgeoning population in Latin America (LATAM) and Asia-Pacific (APAC), will drive the industrial lubricants market at a CAGR of 4.3% during the forecast period. The market is expected to grow from $48,860.7 million in 2016 to $68,412.0 million by 2024. This industry is transforming due to the advent of multinationals, the emergence of commodity branding, and the low cost of technology. This industry uses industrial lubricants in slides, labelers, conveyors, bottle washers, blenders, sifters, knives, mixers, packaging machinery, slicers, and wrappers.

According to P&S Intelligence, APAC accounted for the largest share in the industrial lubricants market, in 2016, and it is projected to continue this trend in the forecast years as well. This can be ascribed to the rapid industrialization in China and India and the emerging economies of Southeast Asia. Moreover, the advancements in industrial machinery in such countries also support market growth in the region. Besides, the increasing investments in the construction of utilities, industrial hubs, and other civic infrastructure facilities in APAC is expected to drive the demand for industrial lubricants in the foreseeable future.

Thus, the expanding capacity of industrial units, flourishing food and beverage sector, and strengthening wind turbine industry will boost the requirement for industrial lubricants in the foreseeable future. 

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Ventilator Market to Grow due to Rising Preference for Home Healthcare Solutions

The prevalence of diseases all across the globe is rising rapidly, and the latest example is COVID-19, which is now a pandemic and is affecting millions worldwide. The outbreak of coronavirus started in Wuhan, China, and the infection has now spread to almost every part of the world. The prime concerning factor regarding this disease is that as of now, no vaccine has been developed for curing it. The virus affects people of all ages; however, it has severe and fatal consequences for aged people and those having underlying health conditions. While the number of people who are getting cured is high, the number of fatalities is also increasing day-by-day.

Attributed to this, the demand for ventilators, at the present time is extremely high all over the world. A ventilator, sometimes referred to as breathing machine or life support, helps a person breathe, if they are unable to do so on their own. A tube is inserted into their windpipe, either through the mouth or through a hole in their throat, which is connected to a machine that pumps air into the lungs. The ventilator market is predicted to advance at a rapid pace in the next few months, as COVID-19 is primarily a respiratory infection.

In the coming years, North America is projected to emerge as the largest ventilator market, because of the increase in the prevalence of respiratory diseases and growing healthcare expenditure in the region. The governments in the region are investing heavily for the improvement of medical facilities, as the number of patients, currently those infected by coronavirus, is rising. In addition to this, the growing geriatric population, rising prevalence of tobacco smoking, and increasing burden of chronic diseases in the region are also predicted to result in the rising need for ventilators.

In conclusion, the demand for ventilators is being driven by the COVID-19 epidemic and rising preference for home healthcare solutions.

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