Development of Autonomous Vehicles Boosting Driving Simulator Market Growth

 Factors such as the burgeoning demand for vehicles, soaring number of research and development (R&D) initiatives in the domain of advanced driver-assistance systems (ADAS), and surging demand for skilled drivers, owing to the high road accident rate, will facilitate the driver simulator market during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1,525.6 million in 2020. Moreover, the surging need for skilled commercial vehicle drivers for logistics services will support the market growth in the foreseeable future.

Driving Simulator Market Outlook

In recent years, the advent of autonomous vehicles has become a prominent market trend. Automakers across the world are heavily investing in the development of components, such as sensors and processors, that are installed in autonomous vehicles. Nowadays, automotive original equipment manufacturers (OEMs) are using driving simulators to test the performance and capabilities of these components and features, as driving simulator systems deliver excellent testing competence in realistic surroundings. The rapid advancements being made in the autonomous technology will drive the demand for driving simulators in the coming years. 

At present, the driving simulator market is moderately consolidated in nature due to the presence of few players, such as Cruden B.V., MTS System Corp., Ansible Motion Ltd., NVIDIA Corp., AutoSim AS, OKTAL SYDAC, CAE Inc., Mechanical Simulation Corp., Dallara Group Srl, and Moog Inc. Nowadays, these players are focusing on product launches to gain a competitive edge in the market. For instance, in July 2020, Anthony Best Dynamics Ltd. introduced a static driving simulator that delivers high levels of driver immersion.

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Geographically, North America held the largest share in the driving simulator market in 2020, due to the surging number of vehicles on North American roads. Moreover, the rising implementation of stringent government regulations for road safety and traffic control facilitates the market growth in the region. Additionally, the increasing advancements being made in the driving simulator technology, to prevent potential failures that might lead to driver injuries, are also contributing to the market growth in the region.

Thus, the increasing adoption of autonomous vehicles and booming need for enhanced driving experience will facilitate the market growth in the forecast years. 

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Radiofrequency Ablation Devices Providing Enhanced Pain Relief

 An increasing number of patients are opting for minimally invasive procedures, as they result in less scarring and pain and decrease the chances of infections related to open surgeries. For example, back pain can be treated by radiofrequency (RF) ablation procedures, which are minimally invasive, thus pose a lower risk of any complication after and during the treatment process. RF ablation devices destroy the nerve fibers in the spine to stop the pain signals from reaching the brain. Moreover, the increasing awareness and low cost of RF ablation treatment for pain relief will fuel the demand for these devices.

The application of these devices is surging among elderly patients, as they are more susceptible to health disorders and abnormalities. Apart from long-lasting pain, old people require minimally invasive treatments for several chronic diseases, such as cardiovascular diseases (CVDs) and cancer. According to the 2019 UN World Population Ageing report, the global population of people in the age group of 65 and above will be 1.5 billion in 2050. Owing to this reason, the revenue of the radiofrequency ablation devices market will increase from $3,173.5 million in 2019 to $11,080.3 million by 2030, at a CAGR of 12.6% during 2020–2030.

Due to the growing shift toward minimally invasive surgeries (MIS) from open surgeries, hospitals are deploying RF ablation products in large numbers, as they are the first point of contact for the diagnosis and treatment of diseases. Catheter systems are the most widely used RF ablation equipment in these healthcare settings to treat chronic diseases. The system includes electrodes and probes that are thrust into the affected body parts for ablation procedures. In addition to this, hospitals and ambulatory surgical centers (ASCs) also use generators and accessories for ablating or destroying the dysfunctional tissue inside the body.

Moreover, North America is expected to adopt the highest number of RF ablation devices in the future, as it has a large end-user base due to the rising cases of cancer and heart diseases. Moreover, the surging healthcare expenditure, favorable reimbursement ecosystem, and easy availability of RF ablation procedures will augment the use of these products in the region. To cater to this swelling demand, companies including Abbott Laboratories, Stryker Corporation, Baylis Medical Company Inc., RF Medical Co. Ltd., Boston Scientific Corporation, Johnson & Johnson, and AngioDynamics Inc. are launching new products and entering into mergers and acquisitions.

Thus, the shift toward MISs and high demand for pain relief procedures will boost the adoption of RF ablation devices in healthcare settings.

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Huge Growth Expected in Facial Skin Ablative Treatment Market in Future

Nowadays, people have become more conscious of their appearance and are willing to pay for energy-based aesthetic treatments, including laser skin resurfacing. Both women and men are undergoing aesthetic and cosmetic procedures to enhance their facial appearance. For example, the American Society for Aesthetic Plastic Surgery (ASAPS) states that liposuction and eyelid surgery/blepharoplasty were among the top five cosmetic surgical procedures opted by the female population of the U.S. in 2019. Whereas, the male population of the country mostly opted for liposuction, nose surgery, and eyelid surgery/ blepharoplasty.

Men and women across the world are increasingly opting for aesthetic and cosmetic surgeries due to an exponential rise in their disposable income. Among the various skin issues, wrinkles, aging, hyperpigmentation, acne, and scars are becoming increasingly prevalent among the populace. Acne and other scars are caused by stress, a sedentary lifestyle, which that triggers hormonal changes, and an imbalanced diet. Owing to the rising prevalence of such disorders, the facial skin ablative treatment market is expected to advance at a CAGR of 7.8% during 2020–2030. The market stood at $4,134.6 million in 2019, and it is expected to reach $8,394.3 million by 2030.

Geographically, North America registers the maximum number of facial skin ablative treatment procedures, and it will witness the same trend in the future. This will be due to the increasing consciousness among people regarding their physical appearance, growing awareness about the latest technologies, and rising cases of skin disorders, especially acne and other types of scars. As per the American Academy of Dermatology (AAD), nearly 50 million Americans are affected by acne annually. Moreover, the presence of major companies in the region will promote such treatments and procedures in the coming years.

Thus, the strong focus on physical appearance and rising awareness regarding aesthetic and cosmetic procedures are encouraging people to undergo facial skin ablative treatments.

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Advancements in IoT Boosting Edge AI Software Demand

As edge artificial intelligence (AI) is a combination of AI and edge computing, the burgeoning demand for intelligent applications, primarily on account of the rapid advancements in AI, will fuel the adoption of edge AI software in the coming years. Such intelligent applications need high computing power for constant collection and processing of information for providing significant and effective outcomes.

Thus, the surging requirement for the efficiency of ongoing data processing will boost the adoption of edge AI software in the forthcoming years. Moreover, advancements in internet of things (IoT) applications will propel the edge AI software market growth during the forecast period (2021–2030), as edge computing addresses the challenges related to IoT. 

According to P&S Intelligence, the market generated a revenue of $600 million in 2020. IoT applications deal with connecting devices and AI enables such devices to learn from the collected data. Further, IoT technology empowers the transmission of information between multiple stages of the production line or several parts of a machine over a wireless network.

Additionally, the rising workload of enterprises on the cloud will also propel the need for edge AI software in the foreseeable future. Business organizations around the world are rapidly shifting to cloud computing, owing to which the AI technology is gaining prominence.

AI applications deployed on cloud platforms have latency issues and offer slow responses. To overcome these challenges, enterprises are shifting toward edge AI software as it places the computer resources at the edge of the network, which helps in allowing applications to function with high bandwidth and low latency.

This market research report provides a comprehensive overview of the 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
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Rising Autonomous Vehicle Demand To Boost Power Liftgate Market Growth

A number of factors such as the burgeoning demand for autonomous vehicles and the surging adoption of electric vehicles (EVs) will support the power liftgate market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $3,478.3 million in 2020. A power liftgate is a backdoor mechanism through which the drivers open or close the liftgate/tailgate by clicking a key on the dashboard or a handheld remote. Nowadays, automotive power liftgates are available with anti-trap and height memory functions.

Power Liftgate Market Outlook

One of the major growth drivers for the market is the escalating demand for autonomous vehicles, owing to the growing need for ease of driving and soaring concerns being raised over passenger and vehicle safety. Due to the increasing safety concerns, automakers are focusing on technological advancements to enhance road safety and also developing intelligent transportation systems, such as self-driving features and advanced driver-assistance systems (ADAS). Thus, the increasing research in autonomous technology will augment the demand for power liftgate systems in the foreseeable future.

Geographically, the Asia-Pacific (APAC) power liftgate market is expected to demonstrate the fastest growth during the forecast period. This can be ascribed to the mounting disposable income and rising living standards of the middle-class population and booming car sales in the region. Moreover, the escalating sales of EVs, owing to the enactment of stringent emission norms, burgeoning demand for autonomous vehicles, introduction of hands-free power liftgate technology, and soaring requirement for sensors and various electronic devices and components in the automobile industry will also support the market growth in APAC in the coming years.

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Thus, the rising adoption of autonomous vehicles and increasing integration of advanced technologies in the automotive industry will fuel the market growth in the foreseeable future.

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Benign Prostatic Hyperplasia Treatment Market To Generate $17 Billion Revenue in 2030

The benign prostatic hyperplasia (BPH) treatment market growth will thrive on factors such as the surging geriatric population, growing prevalence of prostate cancer, soaring awareness of prostate cancer and its treatments, rising adoption of minimally invasive procedures, enhancing healthcare infrastructure, and increasing technological advancements in personalized medicine, during the forecast period (2021–2030). According to P&S Intelligence, the market revenue will rise from $10 billion in 2020 to $17 billion by 2030.

One of the prominent growth drivers for the market is the soaring geriatric population across the world. According to the World Ageing Population 2020 report, the population of people aged 65 years or above will reach approximately 1.5 billion by 2050. As old people are highly susceptible to diseases such as BPH, market players are undertaking numerous research and development (R&D) activities to treat prostate conditions, particularly in the aging population, thereby fueling the need for additional care. 

Whereas, the Asia-Pacific (APAC) BPH treatment market is expected to demonstrate the fastest growth during the forecast period. This can be majorly owed to the burgeoning geriatric population, rising incidence of BPH and associated disorders, and mounting expenditure on healthcare in the region. As per the United Nations Population Fund (UNFPA), by 2050, one out of every four people in APAC will be over 60 years. Furthermore, by 2050, the population of people aged 60 years and above in Asia will reach around 1.3 billion.

Therefore, the growing elderly population will drive the demand for BPH treatment medicines and devices in the coming years.

 

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Booming E-Commerce Sales Propelling Demand for Digital Freight Forwarding

With the burgeoning requirement for freight safety and time-controlled deliveries, surge in global and domestic trade, and increasing adoption of smart technologies such as artificial intelligence (AI), big data analytical solutions, and internet of things (IoT), the demand for digital freight forwarding is rising sharply across the world. Big data analytics and other enterprise management suites (ERP) are used for handling many complex tasks and operations, thereby recuing the dependency on human work, which often leads to operation delays, miscalculations, and inefficiencies. 

Digital Freight Forwarding Market

Moreover, with the growing demand for greater accuracy in product deliveries, shorter delivery time periods, and higher effectiveness of freight operations, the adoption of advanced technologies is surging in the industry. This is subsequently driving the growth of the global digital freight forwarding market. DHL International GmbH, J.B. Hunt Transport Services Inc., Schneider National, UTi Worldwide, C.H. Robinson Worldwide, Inc., and Descartes are some of the major digital freight forwarders across the world. These organizations are actively focusing on reducing the reliance of human workers for contacting carriers, scheduling deliveries, controlling fleet operations, and negotiating rates.

Across the world, the demand for digital freight forwarding solutions was the highest in North America in 2019, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the fact that the U.S. is the global leader in international trade. Additionally, many digital freight forwarders are based out of North America. However, the digital freight forwarding market is also predicted to register the fastest growth in Asia-Pacific (APAC) in the upcoming years, because of the presence of special economic zones (SEZ) and the expansion of manufacturing bases in the region.

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Hence, it is safe to say that the demand for digital freight forwarding solutions will soar in the years to come, primarily because of the booming international and domestic trade and soaring e-commerce sales all over the world. 

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