How Does Automotive Industry Drive LTCC and HTCC Market Growth?

In 2021, the LTCC and HTCC market size stood at $2,919.0 million, and it is projected to grow at a CAGR of 3.9% from 2021 to 2030, to reach $4,125.6 million by 2030. This is ascribed to the increased industrial usage of ceramic substrates in sectors, including telecommunications, automotive, and consumer electronics. Moreover, the surging demand for low-cost small-circuit boards leads to the increased consumption of ceramic substrates. 

The most significant contributor to the revenue share of the LTCC and HTCC market was LTCC, amounting to 70%, in 2021. The category is expected to follow the same trend in the future as well. LTCC is defined as a ceramic substrate that facilitates high-frequency circuits. It has superior electrical and mechanical properties, such as limitless stacking, form-and-fit versatility, and high performance under extreme conditions, making it a better choice than HTCC. LTCC products are also utilized in wireless technologies and RF modules, facilitating regular communication.

The key LTCC and HTCC market players are contributing to the increased R&D activities in this field. They are investing a high amount in R&D for effective production processes of LTCC and HTCC products. For example, the electronic devices segment of Kyocera Corporation invested $174.8 million in 2021 in R&D activities, which was 17% higher than last year. The investment's primary goal was to enhance the electrical and electronic devices portfolio. 

The automotive sector acquired a significant share of the LTCC and HTCC market, amounting to 40% revenue generation, in 2021. The industry will also dominate the market in the coming years. This is ascribed to the surging demand for various automotive electronics, including telematics, and the increasing vehicle safety awareness. Moreover, countries such as Russia, India, Argentina, Thailand, and Brazil have a high demand for ceramics, due to the mass adoption of vehicle sensors and devices.

APAC held the largest share in the LTCC and HTCC market in 2021, attributing to the growing automotive and industrial electronics sectors in Japan, South Korea, India, and China. The demand for co-fired ceramics has increased over time, due to the rapid production of electronic products, which are extensively used in the telecommunications and automotive industries. 

Thus, the increased adoption of wireless technology has led to a boom in the market, with increased efficiency of 5G and 6G networks.

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Why Will APAC Rule Low VOC Adhesives Market?

The low VOC adhesives market is predicted to touch $81.1 billion by 2030, since being valued at $47.6 billion in 2021. The market will grow at a 6.1% CAGR from 2021 to 2030 owing to the stringent regulations being imposed by the government to reduce the VOC content in products, coupled with the rising awareness of sustainability standards. For example, in 2020, there was an imposition of new VOC standards for corporations producing numerous commodities, including inks, cleaning products, coatings, and adhesives, in China.

Another major driver for the low VOC adhesives market is corporations’ investments in emerging economies, to launch new products. This trend is accompanied by an inclination toward low-carbon-emitting vehicles and a gradually growing awareness about green homes or smart homes. For example, the building of an Adhesive Technologies Innovation Center in Shanghai was announced by Henkel in 2021, with the total spending accounting for about $65 million. This was done to leverage the growing consumption of adhesives with a low VOC content by various industries.

Within the end use segment, the paper & packaging category accounts for more than 30% of the overall low VOC adhesives market share. This can be credited to the rising requirement for sustainable and environment-friendly packaging commodities, including corrugated boxes. Furthermore, the Food and Drug Administration has allowed low-VOC adhesives to be used in food packaging. In addition, the green building and construction sector will fuel the market advance due to the extensive utilization of pressure-sensitive adhesive technology for flooring purposes, including vinyl and carpet floor tiles.

APAC will lead the low VOC adhesives market in the coming years due to the surging infrastructure spending, robust economic growth, and skyrocketing purchasing power of consumers. Moreover, the rising population and developing automotive sector will augment growth in the market, because of a increasing requirement for adhesives in the packaging, healthcare, and automotive sectors. Furthermore, being home to emerging economies, which have a stronger consumer base and economical labor costs, new manufacturing units of low VOC adhesives are being set up in the region.

Hence, the snowballing demand for these products in the packaging industry, coupled with rising vehicle safety standards, will create lucrative opportunities for the key players.

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What are Key Factors Causing Boom of Hong Kong Wound Care Market?

People aged 65 or above have steadily risen in Hong Kong, from 0.46 million in 1988 to 1.27 million in 2018, as per government sources. The rising geriatric population is one of the key factors fuelling the demand for wound care products in the metropolis. This is mainly due to the fact that the elderly are more vulnerable to various chronic diseases, such as cancer, cardiovascular diseases, and neurological disorders. In addition to this, the whole process of wound healing takes more time in the geriatric population, due to the slower collagen production in their bodies and the reduced elasticity of their skin.

Due to these factors, theHong Kong wound care market industry is expected to generate $80.7 million revenue by 2030, witnessing a CAGR of 5.4% during the forecast period (2020–2030). There are two types of wound care products available in the megacity, advanced and traditional. Of these, the advanced wound care products, owing to their ability to induce swift healing with minimal discomfort to patients, are expected to record higher demand in the coming years.  

This is also why such products are currently a rage in the Hong Kong wound care market, and the preference of an increasing number of consumers is shifting toward advanced wound care therapies. The main reasons behind this shifting preference are the numerous advantages provided by such therapies and products, such as their ability to provide rapid healing and quick relief to the patients. Moreover, the advanced wound care procedures carry lower risks of infection, as compared to the conventional methods of wound care. For instance, Biatain alginate, offered by Coloplast A/S, is a highly absorbent alginate dressing, applied on moderate-to-heavy exuding wounds.

Hence, it can be concluded that owing to the soaring geriatric population and increasing occurrence of numerous chronic diseases and ailments in this global financial hub, the demand for wound care products and therapies will witness a massive growth in the coming years. 

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Metaverse Market Witnessing Unimaginable Growth; To Cross $1.5 Trillion by 2030

The global metaverse market is driven by burgeoning investment in R&D activities, the rising adoption of the latest VR and AR solutions to develop patient output and the entire surgical atmosphere, and the snowballing demand for metaverse, thereby assisting in trading digital assets via cryptocurrency. In 2021, the market stood at $148.5 billion, and it is predicted to touch $1,542.9 billion by 2030. The market will witness a 29.7% CAGR because of the existence of highly competitive metaverse-focused companies being engaged in many partnerships and collaborations to develop a wide range of products.

The outbreak of COVID-19 had disrupted several markets globally, but the metaverse industry was one among the few exceptions: it exhibited magnificent figures amid the pandemic. The period not only witnessed the digital platform's reliability but also surged investments. Furthermore, lockdowns were imposed on several developing and developed nations, offering extravagant opportunities to the new market entrants. This is because they had more time available at home to focus on business credentials and strengthen the foundations of their business. For example, the number of Fortnite players increased by 100 million from 2019 to 2020.

Metaverse Market Analysis by P&S Intelligence 

The metaverse is an internet-based reality. As the metaverse market will expand, its Non-fungible token (NFT) are scarce and rare and will exhibit lucrative opportunities by growing from nothing to everything. Emerging ecosystems backed by blockchain technology will result in the generation of high revenue due to the authentication and traceability built on interoperable frameworks. A snowballing investment is made on improving the blockchain technologies and NFT by the real-estate dealers for a better reach among the young consumers through brand-building and to inculcate the trust of ownership.

The APAC metaverse industry will advance at the highest CAGR of at least 30% in the coming years. This can be credited to robust digitalization in South Korea, Japan, India, and China, coupled with the surging adoption of AR/VR to adapt to the current marke5t dynamics and shifts in tastes & preferences of consumers. Nonetheless, North America ruled the market in 2021 because of the swift integration of smart devices, snowballing demand for VR/AR, and surging requirements for smartphones.

Hence, the existence of highly competitive metaverse-focused corporations engaged in many partnerships and collaborations to develop a wide range of products will drive the market.

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Military Communications Market Driven by Growing Concerns about Data Security

The military communications market is expected to witness growth owing to the rising security concerns. Due to an increase in the number of disputes among different countries across the world, there is a significant growth in the procurement of weaponry and military communication solutions. The increasing adoption of ad-hoc networking in unmanned vehicles as well as multi-mode and multi-band tactical radio systems will propel the demand for hardware and software that enable military communications.

Military Communications Market Report Says By P&S Intelligence 

The major driver for the military communications market is the growing concerns about data security in this digital world. Since the cyber resources on the ground, air, sea, and space are vulnerable to various threats, securing military equipment against cyberattacks has become increasingly crucial. The military sector is continuing to adopt secured ways to keep from such situations. For enhanced battlefield situational awareness and strategic communication between military officers and their juniors, there is a dire need for an advanced communication system.

Another major driver for the military communications market is the rising acceptance of wireless communication technology. Advanced communication technologies, such as SATCOM and ultra-high frequency communication, are replacing the existing wired communication systems, to build a stronger data security network. In addition, the U.S. is coming up with an inter-functional wireless system, which runs on the 5G network. It will connect all the military domains into a single matrix, thereby protecting critical equipment, such as missile systems, from the much-feared data security thefts.

APAC is expected to witness steep growth in the military communications market, attributed to a noticeable increase in warplane deliveries in developing nations, border threats from neighboring countries, and the adoption of network-centric warfare. Moreover, countries such as China, India, and Japan are rapidly building up their cyber warfare capabilities, which necessitates smooth data transmission. APAC being home to politically volatile countries is one of the fastest-growing markets for military communication solutions. For instance, India continues to engage in regular skirmishes with Pakistan and China on numerous issues. 

Based on communication, the airborne category will potentially become large. This may be attributed to the increasing focus and spending to improve the capabilities of air forces. Furthermore, the expenditure on airborne communications continues to rise as countries seek to improve their ground attack, strike, air superiority, and reconnaissance capabilities. For instance, the AWACS system is carried by a number of reconnaissance aircraft of the forces of India, the U.S., Australia, Israel, China, Great Britain, Japan, and many other countries.

Thus, the growing concerns about military data security and adoption of wireless technology will together propel military communications 

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North America Dominates $4.5-Billion Smart Irrigation Market with 36% Share

In 2021, the smart irrigation market size accounted for $1,404.4 million, and it is expected to reach $4,495.0 million, growing at a rate of 13.8% from 2021 to 2030. The rise in research and development activities and the increased adoption of smart irrigation systems. Countries with extreme weather conditions massively use irrigation systems, considering their energy efficiency, driving the market growth. The surge in implementation of remote sensing technologies in irrigation systems, such as smartphones and IoT devices, is boosting the market. 

Smart Irrigation Market Research Report | P&S Intelligence

The sensor-based controller systems demand is likely to grow in the near future, dominating the smart irrigation market. The agriculture industry is the key driver for the surge in sensor-based controller systems’ usage to increase crop productivity and save water. It controls the data of sensors such as soil, temperature, rain, moisture and humidity sensors deployed on the field and facilitates the analyses. Therefore, sensor-based controller systems do not rely on weather station data and are more preferred. 

The controller category contributed $562.9 million to the smart irrigation market revenue last year. The increased demand for smart irrigation controllers market is resulting in market growth, attributed to the efficacy of the irrigation operations and integration of cloud solutions.  The rise in the population, leading to the insufficiency of resources such as food and water, demands advanced solutions to increase crop production. Here, smart irrigation systems supported by government initiatives play a crucial role in catering to the need with enhanced productivity and cost-effective irrigation solutions. 

North America captured a significant share of approximately 36.1% of the smart irrigation market, attributed to the rise in disposable income of people and rapid urbanization. The remote access facilitated by smartphones and other technological devices in Canada and the U.S. leads to market penetration. It is resulting in a surge of their wide acceptance of golf courses, sports grounds and residential areas, besides agriculture fields. The IoT integration in smart irrigation systems enables the detection of soil moisture levels, automatic irrigation of crops, and tracking of land conditions. 

Thus, the technological advancements leading to IoT and cloud technologies integration facilitating the remote access of smart irrigation devices leads to a market boom.

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Why Industrialization and Urbanization Help Propel Heat Pump Market

From $53,821.2 million in 2021, the heat pump market value will increase at a growth rate of 8.8% in the years to come and reach $115,435.6 million by 2030. The replacement of conformist fuel-based heating know-how in these systems and momentous adoption of the heat pump expertise in housing uses as a lucrative heating technique are influencing the market development positively. Also, this technology contributes considerably to the decrease of carbon emissions and also obeys governing norms. Consequently, the rising environmental apprehensions and promising governing policies also are responsible for the growth of the industry.

The air-to-air heat pumps lead the heat pump market, with approximately 80% share, in the year 2021. Fast and easy fitting, longer lifespan, and little emissions are some projecting drivers quickening the use of these variations. They absorb heat from the outdoor air and transmit it to a walled space via central heating system. Key fundings in the manufacture of personalized systems for operations athwart regions with extreme weather conditions will also inspire business growth for the important manufacturers.

The heat pump market value in the APAC region is likely to exceed $50 billion by the year 2030, with an around 9% CAGR. The growing scale of commercial and residential construction, including hotels, offices, and educational organizations, is responsible for market growth. Furthermore, the strict regulations regarding energy efficiency and the increasing R&D for upgrading know-how, to reduce the influence of human actions on the atmosphere, would lead to industrial growth.

This technique is measured as favorable for lessening the emissions of greenhouse gas. These pumps extract heat from the air and then with the use of use electricity either increase or decrease its temperature relying on whether they are used for cooling or heating. These kinds of pumps can take up to 77% of the heat from the air; therefore, their usage can diminish the utilization of renewable energy sources expansively as opposed to alternate HVAC know-hows, thus lowering the emissions of carbon.

Industrialization and urbanization are the main factors for the demand of heat pumps around the world.

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