How Does Income Surge Accelerate Bluetooth Speaker Adoption Rate?

Bluetooth speakers offer wireless audio streaming, playing media from content sources such as smartphones, tablets, laptops, or any other Bluetooth-enabled device. Most of these speakers are portable and easy to install, use, and carry. As most portable Bluetooth devices operate on rechargeable lithium polymer batteries, improvements in lithium-ion (Li-ion) batteries will provide a long playback time to such speakers. Moreover, the improving wireless connectivity and increasing adoption of smartphones will augment the use of portable Bluetooth speakers in the coming years.

Bluetooth Speakers Market Outlook

The rising adoption of such audio devices can be attributed to the growing need for mobile infotainment systems and the mounting disposable income of people around the world. Moreover, the advancement in audio technology will supplement the Bluetooth speakers market growth in the coming years. These devices are available at low, premium, and mid-range prices. In recent years, small and sturdy Bluetooth speakers, such as JBL Go by Harman International Industries and BT50B by Phillips Corporation, have gained prominence due to their exceptional sound clarity and rigid designs.

According to P&S Intelligence, North America dominated the bluetooth speakers market in the recent past due to the booming number of smartphones in the U.S. and Canada. Nowadays, Bluetooth-enabled speakers with Wi-Fi connectivity, such as Google Home, Bose Bluetooth speakers with Alexa (smart voice assistant), and artificial intelligence (AI)-supported Echo Bluetooth speaker by Amazon.com Inc., are becoming a crucial part of smart homes, as these connected devices allow customers to connect multiple devices simultaneously. Additionally, these devices are also used to play music from remote locations.

Therefore, the increasing need for mobile infotainment systems and surging disposable income will fuel the adoption of Bluetooth speakers in the forthcoming years.

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

Read More

What are Factors Driving Progress of Healthcare Insurance Market in Asia-Pacific?

 One of the major factors responsible for the surge in the demand for healthcare insurance is the soaring geriatric population level across the world. As per a report published by the United Nations in 2017, called the World Population Prospects, the geriatric population is predicted to increase at a faster rate than the younger population across the world. The report also stated that there were 962 million people in the world, aged 60 years and above in 2017, and this number is predicted to rise to 1.4 billion and 2.1 billion by 2030 and 2050, respectively.  

Due to the above-mentioned factors, the revenue generated from the global sales of various health insurance plans is expected to increase from $1.7 trillion in 2018 to $2.2 trillion by 2024. The global healthcare insurance market is predicted to exhibit a CAGR of 4.3% during the forecast period (2019–2024). Health insurance is basically a type of insurance that covers the surgical and medical expenses incurred during a person’s treatment. It can either pay the care provider directly for the treatment or it can reimburse the costs incurred during the treatment of an injury or illness.

The most common types of healthcare insurances are disease, income protection, and medical insurances. Amongst these, the medical insurance policies are expected to register the highest and the fastest growth in adoption during the forecast period, owing to the increasing number of paneled hospitals providing medical services around the world. There are two types of coverage plans offered by the health insurance plans — lifetime and term coverage. Of these two, the term coverage is expected to record rapid growth in adoption during the forecast period, due to the shift of people to this type from the other.

Read More

Wearable Medical Devices Market Set for Prosperity in Future

The increasing awareness amongst the people about fitness and wellness is one of the major factors fuelling the surge in the demand for wearable medical devices across the world. Several organizations and companies are regularly organizing awareness programs and campaigns for increasing the awareness in people regarding health and wellness and for making them understand the importance of staying healthy and fit. In addition to this, the wearable medical devices contain important information and advice from nutritionists and dieticians, which make them highly sought-after across the globe.

The rising prevalence of obesity and various other chronic diseases, soaring geriatric population, and surging preference for technologically advanced products are the other major factors boosting the demand for wearable medical devices throughout the world. Due to these factors, the revenue generated from the worldwide sales of wearable medical devices is expected to reach $67.2 billion by 2030, which is a considerable increase from the $10.6 billion revenue that the sales of these devices generated in 2019. The global wearable medical devices market is predicted to progress at a CAGR of 18.3% during the forecast period (2020–2030).

There are numerous types of wearable medical devices such as smartwatches, fitness trackers, hearing aids, smart cloths, breath analyzers, and patches. Out of these, the fitness trackers are projected to register the highest usage during the forecast period. This is mainly due to the fact that a majority of the people using these devices want to track their progress and fitness journey, number of steps taken, their health and fitness condition, and calories burnt. Moreover, these trackers are extremely cost-effective and are thus, being increasingly adopted by people across the world. 

The most prominent trend currently being witnessed in the wearable medical devices market is the mushrooming number of product launches by the various wearable medical devices manufacturing companies across the globe. For instance, in October 2019, Sony Corporation introduced the mSafety, which is a platform that integrates wristwatch and a cloud-based backend solution. This product was launched for providing a ready-made platform for remote health tracking and monitoring and mHealth applications, to the mHealth app developers, users, and healthcare systems.

Read More

Increasing Government Support Driving Fuel Cell Electric Vehicle Market Growth

The global fuel cell electric vehicle market generated $3,059.5 million revenue in 2020. The market is being driven by the enactment of strict carbon emission regulations, such as those regarding fuel efficiency, by various governments and organizations, and the burgeoning requirement for environment-friendly vehicles, on account of the surging concerns being raised over the escalating carbon dioxide emissions all over the world. For example, the U.S. Environmental Protection Agency (EPA) is encouraging the adoption of fuel cell electric vehicles in order to reduce carbon dioxide emissions in the country.

Fuel Cell Electric Vehicle Market Outlook

Furthermore, the European Union has announced recently that it aims to reduce vehicular emissions by 80% by 2050 from the levels reported in 1990. The organization would achieve this objective by promoting the use of green vehicles. Besides, the mushrooming deployment of electric vehicles in several countries is also driving the growth of the fuel cell electric vehicle market. For example, as per the International Energy Agency (IEA), the sales of electric cars surpassed 2.1 million across the world in 2019, thereby propelling the global electric car fleet to 7.2 million.

This will be primarily because of the enactment of strict emission norms by the governments of China and Japan. Further, the existence of several major fuel cell vehicle manufacturing organizations such as Toyota Motor Corporation, SAIC Motor Corporation Limited, and Hyundai Motor Company, is also fueling the deployment of fuel cell electric vehicles in the region. Furthermore, the implementation of initiatives such as the promotion of zero-emission automobiles during major events like the 2020 Summer Olympics in Tokyo, is also propelling the market expansion in the region.

Hence, it is safe to say that the demand for fuel cell electric vehicles will surge sharply in the upcoming years, mainly because of the growing demand for environment-friendly vehicles, on account of the increasing air pollution levels and carbon dioxide emissions, and the enactment of favorable government initiatives regarding their deployment across the world. 

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/fuel-cell-electric-vehicle-market

Read More

Why Are Automotive Companies in APAC Using Adhesives and Sealants in Huge Quantities?

Automotive adhesives and sealants refer to the substances that are used for several bonding and sealing applications in the automobile industry. These substances are chemically similar but functionally different. Such adhesives and sealants help in enhancing performance, driving experience, reliability, and vehicle safety. These substances are being used in large quantities in Indonesia, Thailand, Vietnam, the Philippines, Japan, and China, due to the implementation of automotive fuel economy policies in such Asia-Pacific (APAC) countries. As adhesives and sealants improve the fuel economy of light trucks and cars, automakers have started using them in large quantities.

Moreover, the surging preference for lightweight vehicles, for optimizing the speed and power of automobiles, will also help the APAC automotive adhesives and sealants market advance at a CAGR of 6.5% during forecast period. The market was valued at $3,403.6 million in 2017 and it is expected to reach $4,938.0 million revenue by 2023. In recent years, the automotive industry has been replacing steel with lightweight materials such as aluminum, composites, and plastic, to improve the fuel efficiency of vehicles.

According to P&S Intelligence, China dominated the APAC automotive adhesives and sealants market in the recent past, due to the presence of a strong automotive manufacturing base in the country. Moreover, the high purchasing power parity and high nominal gross domestic product (GDP) of the country also fuels the consumption of adhesives and sealants in the automobile industry. China is one of the largest exporters of such substances in the world. 

Therefore, the increasing implementation of government policies aimed at promoting automotive fuel economy and the growing shift toward lightweight vehicles will fuel the need for automotive adhesives and sealants in APAC in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/apac-automotive-adhesives-and-sealants-market 

Read More

Increasing Electric Vehicle Deployment Fueling Adhesive and Sealant Usage in German Automotive Industry

The mushrooming usage of adhesives and sealants in the German automotive industry is the major factor responsible for their booming sales in the country. These adhesives and sealants are being increasingly used in the manufacturing of several automotive parts and components in the country, primarily because of their higher resistance to moisture and strong bonding capability. In addition, they also offer higher flexibility, good impact resistance, and durability than the conventionally used adhesives and sealants.

Moreover, epoxy adhesives and sealants are being extensively used in the manufacturing of headlights and signal lights and also in the bonding of automobile bumpers. As Germany is one of the largest exporters and manufacturers of automobiles, the sales of adhesives and sealants are shooting up in the country. Besides, the surging deployment of electric vehicles, on account of the implementation of various vehicle electrification policies by the government and the increasing environmental concerns, is also creating lucrative growth opportunities for adhesive and sealant producers in the country. 

For instance, the German government provided various tax and financial incentives to automobile manufacturers to reduce the price of electric vehicles, which helped it achieve its objective of electrifying 1 million cars in the country by 2020. This subsequently caused the expansion of the German automotive adhesives and sealants market. Furthermore, with the soaring sales of commercial vehicles and passenger cars in the country, the revenue of the market will rise from $891.8 million in 2017 to $1,156.8 million by 2023.

In Germany, the enactment of regulatory policies aimed at replacing the traditional adhesives and sealants with environment-friendly solutions that have lower quantity of polluting materials such as volatile organic compounds and exhibit excellent adhesion characteristics, is becoming a major trend. Due to these policies, the usage of eco-friendly water-based acrylic adhesives in place of solvent-based adhesives is soaring in the country. These adhesives are being increasingly used in the production of instrument panel dashboards and trim parts of automobiles in the country.

Hence, it can be said without any hesitation that the use of adhesives and sealants in the German automotive industry will shoot up in the coming years, primarily because of their ability to reduce the weight of vehicles and impart higher durability and impact resistance to automobiles.

Read More: https://www.psmarketresearch.com/market-analysis/germany-automotive-adhesives-and-sealants-market

Read More

Why Are Corporates Adopting Cut Size Uncoated Freesheet Paper In Abundance?

Cut size uncoated freesheet paper refers to a type of graphic paper that is manufactured by using about 10% mechanical pulp and 90% chemical pulp. This paper is available in rectangular sheets in three sizes— 210 mm*297 mm (A4), 215 mm*345 mm (legal), and 297 mm*420 mm (A3). A4-sized uncoated freesheet paper is preferred over other types of papers due to its higher compatibility with a variety of printers, such as laser and inkjet printers, and lower cost. 

As cut size uncoated freesheet paper is compatible with a variety of papers, the surging printer sales are expected to accelerate the cut size uncoated freesheet paper market at a CAGR of 2.4% during 2018–2023. The market revenue stood at $16,122.3 million in 2017 and it is projected to reach $18,483.6 million by 2023. Printers are used for producing textual and graphical output received from a computer on a printable medium, such as paper.

Apart from the commercial and educational sector, the residential sector is also using high volumes of cut size uncoated freesheet paper, due to the rising use of printers in this sector. Paper manufacturers, such as Domtar Corporation, Nippon Paper Industries Co. Ltd., Shandong Sun Holdings Group, International Paper Company, PT Pabrik Kertas Tjiwi Kimia Tbk., Asia Symbol, The Navigator Company S.A., PT. Indah Kiat Pulp & Paper Tbk, Mondi Group, Smurfit Kappa Group plc, and UPM Group, are producing large volumes of this grade of paper to cater to the demands of individuals, corporates, and educational institutes. 

According to P&S Intelligence, Asia-Pacific (APAC) dominated the cut size uncoated freesheet paper market in the past and it is expected to retain its dominance in the coming years as well. This can be attributed to the soaring number of educational institutes and offices and the flourishing paper industry in the region. Moreover, the mounting printer sales in the region will also boost the consumption of this grade of paper in the forthcoming years. Additionally, the APAC region is also expected to adopt cut size uncoated freesheet paper at the highest rate in the forthcoming years.

Thus, the surging adoption of printers and the rising number of educational institutes in emerging economies will fuel the consumption of cut size uncoated freesheet paper in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/cut-size-uncoated-freesheet-paper-market

Read More