Digital Transaction Management Solution Use To Surge in Saudi Arabia

According to the Household Income and Expenditure Survey released by the General Authority for Statistics, the average household monthly income and average monthly per capita income of Saudi Arabia was 14,823 Riyal and 7,940 Riyal, respectively, in 2018. The survey also reveals that the per capita monthly expenditure of the country was 2,857 Riyal in 2018. The rising spending power of people, owing to the soaring income, will increase the penetration of digital transaction platforms in Saudi Arabia.

Thus, the surging income of people is expected to drive the Saudi Arabian digital transaction management market (DTM) at an exceptional CAGR of 35.7% during 2020–2030. According to P&S Intelligence, the market was valued at $60.88 million in 2020, and it will generate $1,288.27 million revenue by 2030. Additionally, ongoing technological advancements and the increasing focus of enterprises on digital platforms for business operations will also propel the demand for DTM solutions in Saudi Arabia.

Saudi Arabia Digital Transaction Management Market

Moreover, the soaring focus of the government on digital transformation will also encourage the use of DTM solutions in the country. The government aims to establish information and communication technology (ICT) as a central pillar of the development of the country under its Vision 2030 strategy. Likewise, the National Transformation Programme (NTP) has laid the foundation for digital-transformation-led innovation in the country. Both these initiatives are an outcome of the constant efforts of ministers to strengthen the ICT ecosystem of the nation.

Geographically, the central region accounted for the largest share in the Saudi Arabian digital transaction management market in 2020, and it is expected to demonstrate the fastest growth during the forecast period (2021–2030) as well. The growth of this region can be credited to the mounting IT expenditure, the growing focus of business entities on business expansion and improvement, and increasing government support for small and medium-sized enterprises (SMEs). Besides, the rapid adoption of digital services by corporates will also contribute to the market growth in the region.

Therefore, the surging focus of the government on digital transformation will augment the use of DTM solutions in Saudi Arabia.    

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Rising Need for Enhanced Productivity Fueling Robotic Process Automation Demand

Robotic process automation (RPA) software helps enterprises enhance work efficiency because it can run in the background round the clock, which enables the mechanization of back-end processes. The increasing adoption of this software, therefore, allows human employees to engage themselves in more-important tasks, such as client handling. Thus, the rapid digitization of businesses to enhance productivity and product and service quality will facilitate the deployment of the RPA software in the coming years. Additionally, businesses are also opting for training, professional, and implementation services for RPA solutions due to the high digitization rate.

Additionally, the burgeoning demand for virtual workforces is expected to drive the robotic process automation market at a robust CAGR of 36.3% during the forecast years (2020–2030). According to P&S Intelligence, the market was valued at $2,078.3 million in 2020, and it will generate $45,982.0 million revenue by 2030. In recent years, hefty investments have been made in emerging RPA companies and startups in order to cater to the needs of the expanding customer base. This became a prominent market trend.

Robotic Process Automation Market

Presently, the robotic process automation market is highly fragmented, due to the presence of umpteen players, such as Automation Anywhere Inc., Blue Prism Ltd., Celaton Ltd., IBM Corporation, IPsoft Incorporated, NICE Ltd., Pegasystems Inc., Redwood International Business Group B.V., UiPath Inc., and Xerox Corporation. Nowadays, the market players are focusing on product launches and partnerships to consolidate their position. For instance, in March 2020, Blue Prism Ltd. collaborated with Red Hat Inc., a U.S.-based multinational software company, to create state-of-the-art intelligent automation solutions.

In recent years, the North American region has emerged as the largest user of RPA solutions due to the high penetration of process management and automation solutions in the U.S. and Canada. In addition, the presence of numerous offshore customer service providing companies and major vendors is also accelerating the adoption of RPA solutions in the region. Moreover, the rapid adoption of the latest technologies, high IT investment, and the existence of developed IT infrastructure also offer a conducive environment for adopting such solutions.

Therefore, the mounting focus of business organizations on improved productivity and quality and rising demand for virtual workforce will accelerate the adoption of the RPA software in the forthcoming years.

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Automotive Air-Conditioning Filters Becoming Important in COVID Times

Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that 55,834,456 units and 21,787,126 units of cars and commercial vehicles, respectively, were manufactured across the world in 2020. As the sales of air conditioner filters are directly proportional to automobile production, a surge in it will create a huge requirement for them in the coming years. Moreover, the rising customer need for comfort in vehicles will fuel the integration of AC systems in automobiles.

Additionally, the surging implementation and awareness of safety and health regulations will facilitate the automotive air-conditioning filter market growth in the years to come. Such filters clean the air inside automobiles and prevent the entry of pollutants, such as mold spores, dust, smog, and pollen, into the cabin. With the mounting air pollution levels, automobile manufacturers are increasingly incorporating air-conditioning filters in their passenger cars, heavy commercial vehicles (HCVs), and light commercial vehicles (LCVs), to offer comfort to their customers.

Automotive Air-Conditioning Filter Market

At present, the automotive industry is procuring air-conditioning filters from DENSO Corporation, Hastings Premium Filters, Hengst SE & Co. KG, Scania AB, Robert Bosch GmbH, Momentum USA Inc., Baldwin Filter Inc., Freudenberg Filtration Technologies SE & Co. KG, MAHLE GmbH, Sogefi Group, ALCO Filters (Cyprus) Ltd., Donaldson Filtration Solutions, K&N Engineering Inc., Champion Laboratories Inc., ACDelco Inc., and MANN+HUMMEL GmbH. These companies are currently focusing on introducing innovative filters to boost the comfort level and keep microbes out of the vehicles, especially in these times of the pandemic.

According to P&S Intelligence, Asia-Pacific (APAC) is expected to dominate the automotive air-conditioning filter market in the upcoming years. This will be due to the increasing production of automobiles in India and China, rising disposable income of people, and developing infrastructure. For instance, the Society of Indian Automobile Manufacturers (SIAM) states that India produced 3,062,221 units of passenger vehicles and 624,939 units of commercial vehicles in financial year 2020–2021. Furthermore, as per the OICA, 19,994,081 cars and 5,231,161 commercial vehicles were manufactured in China in 2020.

Thus, the booming passenger car, LCV, and HCV sales, increasing implementation of vehicle safety and consumer health regulations, and burgeoning demand for energy-efficient HVAC solutions will fuel the installation of air-conditioning filters in automobiles.

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Surging Popularity of Lightweight Vehicles Driving Aluminum Adoption in Automotive Industry

With the burgeoning requirement for greater fuel efficiency, many automobile manufacturers are focusing on developing lightweight vehicles. Additionally, lightweight automobiles have better braking and acceleration and are easier to handle than heavier vehicles. Moreover, the weight of the amount of aluminum needed for providing the same strength as that of steel is 40% lesser than steel. Furthermore, the implementation of stringent emission regulations in several countries is also pushing up the requirement for lightweight vehicles, as these vehicles generate lower emissions. This is, in turn, driving the demand for aluminum in the automotive industry. 

Besides, 90% of the aluminum used in vehicles can be easily recycled. Owing to these factors, the global automotive aluminum market is exhibiting huge expansion. Currently, the industry is highly fragmented, with the presence of a large number of small organizations such as Alcoa Corporation, Norsk Hydro ASA, Aluminum Corporation of China Limited (Chalco), Aleris International Inc., Constellium NV, Rio Tinto plc, Novelis Inc., Kaiser Aluminum Corporation, and United Company RUSAL plc. However, in the coming years, the industry will witness the entry of several new firms that will develop innovative and advanced products. 

Automotive Aluminum Market

Aluminum is used in the manufacturing of light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and passenger cars. Out of these, the usage of aluminum is predicted to be the highest in passenger cars in the coming years. This will be because of large-scale manufacturing of passenger cars, particularly in China and India, and the soaring requirement for fuel-efficient vehicles. Extrude aluminum, rolled aluminum, and cast aluminum are the major types of aluminum used in automobiles. 

This will be because of the surging demand for lightweight cars across the world. Globally, Asia-Pacific generated the highest revenue in the automotive aluminum market in the years gone by and this trend is predicted to continue in the coming years as well. This will be because of the extensive manufacturing of passenger cars in several regional countries such as India and China and the soaring investments being made by automobile manufacturing companies for the manufacturing of automobiles in the region.

Thus, it can be said without hesitation that the demand for aluminum will surge sharply in the automotive industry in the coming years, primarily because of the soaring requirement for lightweight vehicles, on account of their greater fuel efficiency and easier handling, and the increasing implementation of stringent emission regulations by the governments of several countries in order to mitigate vehicular emissions. 

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Why are Sales of Botanical Supplements Surging Globally?

Botanical supplements refer to the dietary supplements produced from plants or parts of plants for therapeutic and medical purposes. The products made from botanicals are used for the management and prevention of several ailments and diseases and are also known as photomedicine. These supplements work as natural alternatives for hormone replacement therapies, as plants have played a major role in various treatment procedures for thousands of years. These supplements also provide natural ways to improve brain health, cognitive function, and prostate health and joint and connective tissue health. 

In recent years, the sales of these supplements have surged sharply, primarily because of the increasing health consciousness of people, rising concerns toward diet, and improved care toward preventive healthcare. Moreover, many botanical supplement producers have launched alternative therapies for relieving women from issues, such as insomnia and hot flashes menopause. Middle-aged women and geriatric people are the primary end users of botanical therapies and supplements. Natural products, such as probiotic drinks and detoxes, cranberry and herbal supplements, and fish oils are quickly becoming very popular botanical supplements across the world. 

These supplements are also classified, depending on formulation, into powders, syrups, capsules, oils, and frizzing tablets. Baby boomers, adult women, and adult men are the major end users of these supplements, while cosmetics, food and beverages, pharmaceuticals, animal feed, and agriculture are the major application areas of these supplements. Geographically, the demand for these supplements was found to be the highest in Europe during the last few years. Currently, Asia-Pacific (APAC) is quickly becoming a major region for the players operating in the botanical supplements market for potential expansion. 

This is credited to the increasing disposable income of the middle-class populace and the long-standing tradition of botanical medicine in regional countries, such as China, India, and Thailand. Natures Sunshine Products Incorporated, NaturaLife Asia Co., Proctor & Gamble, Imperial Ginseng Products Ltd., Pharmaton Natural Health Products, The Himalaya Drug Company, International Vitamin Corp., Arizona Natural Resources, Inc., and Nutraceutical International Corporation are some of the major botanical supplement producing companies all over the world. 

Hence, it can be said without any hesitation that the demand for botanical supplements will surge sharply in the coming years, mainly because of the growing health consciousness of people and their rising disposable income, the soaring incidence of chronic diseases, mushrooming requirement for natural alternatives to conventional medicines, and ballooning population of geriatric people across the world. 

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How Are Technological Developments Improving Oligonucleotides?

 A surge in research activities in synthetic biology and improvement in oligonucleotide synthesis have led to the development of advanced oligonucleotides. Recent innovations in synthesis techniques have led to the swift and cost-effective synthesis of oligomers. Moreover, the developments of novel sets of protecting amino groups, better coupling reagents, and high-throughput synthesizers have transformed the synthesis of oligonucleotides. These advancements will propel the oligonucleotide synthesis market at 10.8% CAGR during 2018–2023. At this rate, the market is expected to reach $2.8 billion by 2023 from $1.5 billion in 2017.

Read the full report - Oligonucleotide Synthesis Market Size and Demand Forecast 

In the same vein, the evolution of microarray technology has assisted the development of oligonucleotide products for therapeutic and diagnostic processes. For example, research of numerous oligonucleotides with biological ligands has led to its increased application in the diagnosis of several inherited disorders. Similarly, constant improvement in microchip-based oligonucleotide synthesis has led to the surge in throughput and decrease in cost of synthesis of oligonucleotides. Additionally, developments in technologies, such as enzymatic error correction, have led to the reduction in frequency of errors in synthesized products.

Apart from this, academic research institutes, food and beverage companies, diagnostic laboratories, forensic laboratories, and pharmaceutical and biotechnology companies use oligonucleotides for various applications. Among these end users, the diagnostic laboratories use the highest volume of oligonucleotides for diagnostic purposes, on account of their increasing applications in molecular diagnosis of inherited disorders. Besides, the academic research institutes also use these products in large quantities as probes in antisense analyses, microarray, and in-situ hybridization.

Due to widening application base, market players are focusing on improving and expanding their product portfolios. For instances, Thermo Fisher Scientific Inc., in October 2017, launched Applied Biosystems Axiom Africa Array for commercial purposes. The product was introduced for medical and population genomics to support and accelerate global health research. Thermo Fisher Scientific Inc. and The Wellcome Trust Sanger Institute combined their respective expertise in informatics and human genomic analysis to co-develop Applied Biosystems Axiom Africa Array that assists in capturing genome variation in the European, African, and Asian populace.

Thus, the continuous advancements in technologies coupled with high prevalence of life-threatening diseases that demand early diagnosis and treatment will fuel the adoption of oligonucleotides in the coming years. 

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How are Government Initiatives Propelling North American Defibrillators Market?

 One in every four deaths, i.e. 647,000 deaths in the U.S., are a result of cardiovascular diseases (CVD), according to the Centers for Disease Control and Prevention (CDC). If the heart is still beating, but in an arrhythmic pattern, a defibrillator is used to treat it. The device sends an electric shock, which neutralizes a large amount of the current coming from the heart’s natural pacemaker, to allow the sinoatrial node to resume its normal functioning. Arrhythmias can be fatal if not stopped immediately, especially ventricular fibrillation (v-fib), during which the body has no pulse

These devices come in two variants: external defibrillators and implantable cardioverter defibrillators (ICD). External ones are commonly seen at hospitals and operated by medical professionals, while ICDs are implanted inside the body, for regular cardiac care. Of these, ICDs have witnessed higher uptake, on account of the technological advancements in these instruments and rising incidence of sudden cardiac arrest (SCA). In the coming years, the external variants are predicted to witness a more rapidly increasing uptake.

Browse report overview and detailed TOC at North American Defibrillators Market Demand Forecast Report

A key trend in the region is itself the rising adoption of automated external defibrillators (AED). The government, at the national and state/province levels, is taking initiatives to install public-access defibrillators (PAD), which are mostly AEDs, for the use of general public, in situations of emergency. Areas which witness a high footfall, such as schools and colleges, train stations, airports, shopping centers, leisure centers, and malls, are being rapidly equipped with AEDs, so that if anyone suffers a heart issue, bystanders can use the device to restore their sinus rhythm, until medical help arrives.

The surging geriatric population in many North American countries is one of the major factors responsible for the growth of the North American defibrillators market. In North America, the population of geriatric people is growing at the fastest rate in the U.S. As per the report published by the Population Reference Bureau in 2018, the total number of people in the age bracket (65 years and above) in the U.S. is predicted to rise from 46 million to more than 98 million during 2014—2060. 

Hence, as people realize the importance of defibrillators, and governments keep up their efforts to make them easily accessible to the public, their uptake in North America will keep rising.

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