Why Will Luxury Category Generate a Higher Revenue in Saudi Arabia Fragrance Market?

 In 2021, the global Saudi Arabia fragrance market stood at $2,049.7 million, and it is projected to touch $3,500.9 million by 2030. The market is predicted to advance at a 6.1% CAGR from 2021 to 2030 owing to the increasing prominence of grooming and personal hygiene and the surging count of gym users. The most prominent market in the Middle East for fragrance and cosmetic products in Saudi Arabia. An ample amount of money is spent on personal hygiene and appearance by the Saudi Arabian consumers which assist in market growth.

Saudi Arabia Fragrance Market Analysis and Growth Forecast, 2030

The outbreak of COVID-19 disrupted the beauty and personal care industry, wherein the fragrances sector was adversely affected especially amid the lockdown. It witnessed negative growth and a consequent fall in the product demand on contrary to the 10% annual growth rate. Nonetheless, the Saudi Arabia fragrance market will recover at a swift growth rate in the e-commerce platforms owing to surging awareness of fragrance products amongst the consumers via rapid internet connectivity. Saudi Arabia, being home to the largest number of active social media users, assists the key players in marketing and promotion.

Browse detailed - Saudi Arabia Fragrance Market Revenue Estimation and Growth Forecast Report

Within the category segment, the Saudi Arabia fragrance market can be bifurcated into the mass category and luxury category. The luxury products generated higher revenue in the market in 2021, accounting for about 80% of the total market revenue. Because of the country’s intense banking and financial and oil & gas sectors, coupled with a rising disposable income and subsequently surging consumer purchasing power, Saudi Arabia is heralded as one of the fastest expanding world economies. In addition, there is a growth in the young population which will skyrocket the demand for these products.

There is extensive use of fragrance products among women because they consider this as an essential part of their personality. One of the most appealing and prolific individual care accessories among women is fragrance. This fragrance can either be a strong one, or a mild one depending on the tastes and preferences of a consumer.  There are ample fragrances in the market for various places such as home, work, or a party.

An important constituent of human grooming rituals in this country is perfume: a sign of aromatic scent. There has been a considerable rise in the number of international perfume corporations setting up their functioning production plants here in the Saudi Arabia fragrance market. They are offering their products to the local inhabitants by blending the conventional oriental components in their scents and adding a texture of contemporary fragrances. Perfumes are a representation of the users’ style, persona, and uniqueness. Hence, with a paradigm shift toward Western fragrances, many brands are setting-up shops in this country.

Greater adoption of technological advancements in the Saudi Arabia fragrance market will drive the product demand in personal care and cosmetic products., including body and hair oils, body lotions, shaving creams, shower gels, and shampoos. Furthermore, an inclination of consumer preferences toward wellbeing and health has opened the closed doors for this industry by creating lucrative opportunities for consumers. Moreover, to cater to the requirements of target consumers, the majority of the market players are upgrading their products by infusing organic and pleasant fragrant ingredients. This will augment growth in the market.

Hence, the rising importance of grooming and personal hygiene and greater adoption of technical advances to adapt to the shifting market dynamics will drive the market.

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Cloud Gaming Market To Reach $111,344.1 Million by 2030

In 2021, the cloud gaming market stood at $4,500.7 million, and it is projected to touch $111,344.1 million by 2030. The market will advance at a CAGR of 42.8% from 2021 to 2030 owing to the launch of better cross-platform gameplays and dedicated gaming smartphones. Furthermore, with the convenience and accessibility of cloud-based games and surging internet penetration, there will be a snowballing of the market revenue. Moreover, the reduced latency and higher bandwidths e offered by 5G technology are assisting in streaming XR games smoothly.

The deployment of the 5G technology will pave the way for cloud gaming market growth. This can be attributed to swift 5G connections and mobile ubiquity that are leveraged by cloud gaming firms to offer AAA-quality gaming to smartphone users. The increasing number of intricate MNOs will drive global market growth, as will the rising acceptance of social media games. Moreover, a prolific feature of cloud games is that users can access them through a remote server directly, without any storage requirement or purchase of the latest gaming console.

Cloud Gaming Market Report 2022-2030 | P&S Intelligence 

Under segment by device, the highest revenue, of around $1,645.6 million, was generated by the smartphones category in 2021. Moreover, this category will advance at a 43% CAGR in the coming years. This can be credited to the consistent growth in smartphone gaming pursuits in the past five years. This has been due to the cost-effectiveness of smartphones in comparison to upgrade computer and laptop hardware and software to maintain game performance.

In 2021, the cloud gaming market was dominated by APAC, which accounted for almost 50% of the total market share. The skyrocketing demand for entertainment, coupled with the surging smartphone penetration, will augment the growth of the market over this decade. This goes hand in hand with the increasing young population, rate of urbanization, and disposable income and, consequently, the escalating purchasing parity of consumers, which enables them to afford the latest gaming genres. As a result, India, China, and Japan are three of the greatest revenue generators in this market.

The outbreak of COVID-19 expanded the market size further, by offering a good leisure activity to people. This is quite evident from the rising number of downloads and greater amount of time spent on these activities post the virus outbreak.

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Italy Electric Scooter and Motorcycle Market To Hit $707.1 million by 2035

In 2021, the Italy electric scooter and motorcycle market had revenues of $26.7 million, which will hit $707.1 million value by 2035, with an almost 30.5% CAGR from 2021 to 2025 and a further 24.4% from 2026 to 2035. Electric scooters and motorcycles with top speeds of more than 80 km/h are anticipated to have the market's fastest growth, with a CAGR of over 35% from 2026 to 2035.

A huge population of racing aficionados is another factor driving the need for sports motorcycles in the Italy electric scooter and bike market. Additionally, it is anticipated that these two-wheelers' improved long-term worth and performance would increase their total sales in the upcoming years.

Italy Electric Scooter and Motorcycle Market Report 2022-30

One of the key reasons influencing the Italy electric bike and scooter market is the significant increase in the price of gasoline products. Traditional two-wheelers are more inefficient and more expensive to run than electric ones. Electronic systems surpass mechanical ones in terms of effectiveness and longevity because there is less wear and friction.

Italy decreased its pollution by 19.4% between 1990 and 2019. Its aims and attempts to reduce emissions are intrinsically connected to the recommendations and policies of the EU. The EU recently created a new agreement on the European Climate Law to exceed the prior goal of a 40 percent reduction set forth under the auspices of the Paris Agreement by lowering pollution by at least 55% by 2030 as compared to 1990 levels.

As a result, Italy has set a new emission reduction goal of 33% below 2005 levels for 2030 under the ESR. These actions will undoubtedly contribute to increasing the Italy electric scooter and motorcycle industry potential for growth in Italy.

Hence, the demand for electric scooters and motorcycles in Italy will grow more due to the rising concerns over greenhouse gas emissions and the existence of a large count of racing enthusiasts.

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Why Rising Demand for Natural-Ingredient-Based Products Will Drive U.A.E. Fragrance Market?

 In 2021, the U.A.E. fragrance market stood at $913.7 million, and it is forecast to touch $1,622.5 million in 2030. The market is expected to advance at a CAGR of 6.6% from 2021 to 2030, owing to the skyrocketing investments in marketing and advertising initiatives, surging demand for custom-made, natural, and eco-friendly cosmetic products, as well as the increasing disposable income of the consumers, which consequently augment the purchasing power of consumers. 

U.A.E. Fragrance Market Analysis and Growth Forecast, 2030

Luxury products dominated the U.A.E. fragrance market in 2021, with a revenue share of around 70%. This is because of the economically strong market of the U.A.E., wherein prominent multinational brands have launched their premium products here much earlier than in other regional countries. Approximately 60% of the population is in the 14–40 age bracket, and these people tend to have a higher purchasing power due to the higher employment rate than other age groups. 

Browse detailed report - U.A.E. Fragrance Market Analysis and Demand Forecast Report

The gradually skyrocketing consumer demand for personal care products will drive the U.A.E. fragrance market in the coming years. The essential daily products for the general public include fragrances as well. Moreover, the count of social media users has gone up significantly due to the rising internet penetration. Most of the key market players are marketing and advertising their products on social media, such as Johnson & Johnson, Unilever Group, and Victoria’s Secret & Co., after taking account of the consumer preferences and engagement.

An important constituent of grooming rituals in this country is perfume: a sign of cleanliness. There has been a considerable rise in the number of international perfume corporations setting up their production plants here. They are progressively offering their products to the local inhabitants by blending conventional Oriental components with contemporary fragrances from the West. Perfumes are a representation of the users’ style, persona, and uniqueness. Hence, with a paradigm shift toward Western fragrances, many European and North American brands are setting-up shops in this country.

The U.A.E. fragrance market is also growing on account of the increasing demand for organic or natural-ingredient-based products. Geranium bourbon, sandalwood, and patchouli are some commonly used organic ingredients in the synthesis of perfumes. However, synthetic components hold a 60–65% share in the market. On the contrary, organic products have 30–35% of the total market. The increasing consumer awareness, coupled with a rising focus on hygiene, changing lifestyles, and personal health, will drive the demand for zero-chemical products.

The growth in the U.A.E. fragrance market is complemented by a rise in the use of cosmetics among men in their daily regimen. The demand for such products is rising as men are becoming more concerned about themselves. Furthermore, after working out, they use these products to weaken their body odor. As urbanization and fascination with the Western culture are on the surge, this category will grow with men’s rising preferences for different scented perfumes.

Hence, owing to the rising disposable income of people and the surging demand for natural cosmetic products in the country, the market will expand fast.

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Why Will the Disposable Cables and Lead Wires Bifurcation Gain a Momentum?

 The major drivers in the global ECG cables and lead wires market are rising geriatric population levels and increased incidence of cardiovascular diseases. In 2021, product sales valued $1,800.0 million, and it is predicted to reach $3,071.7 million by 2030. Furthermore, the market will grow at a 6.1% CAGR in the coming years. Moreover, the rising prevalence of hyper-anxiety or insomnia among the patients will also propel growth in the market. This is because the number of ECG tests done will go hand in hand with the rising number of patients.

ECG Cables and Lead Wires Market Demand Analysis Forecast, 2030

The outbreak of COVID-19 had disrupted the entire circular economy but the ECG cables and lead wires market was among the few exceptions. When the entire economy went into recession, this market exhibited magnificent numbers owing to the skyrocketing demand for these lead wires and cables among the growing population. Resultingly, the entire market boomed by at least 15% amid the pandemic. This is because of the surging prevalence of cardiovascular diseases because of the outbreak of the COVID-19 virus. Hence, corporations upscaled their output to facilitate the urgent requirement of the population.

Within the product type, the ECG cables and lead wires market can be bifurcated into ECG cables and ECG lead wires. The latter bifurcation holds the bigger market share, of about 55%, while the remaining 45% is held by the former category. Because the 3-lead ECG lead wires and the 5-lead ECG lead wires are extensively utilized to diagnose heart-related problems, they hold at least 70% of the revenue share. 

Nonetheless, the 12-lead ECG lead wire demand will spur the ECG cables and lead wires market growth at a 7% CAGR from 2021 to 2030. This can be attributed to its ability to not only detect deadly arrhythmias but also provide the early diagnosis of diseases. Moreover, there is a rising inclination toward 12-lead ECG lead wires among the healthcare providers of the advanced economies. This will augment growth in the market.

When segmented on usability type, the reusable bifurcation holds a larger ECG cables and lead wires market share, of about 85%. This can be ascribed to their lower costs for healthcare centers, especially in emerging economies. Moreover, the disposable category will witness an approximately 7 CAGR in the coming years owing to the gradual attempts made by the healthcare providers to lower the cross-contamination. Furthermore, this results in both increasing prevalence of bloodstream infections and the spreading of antibiotic-resistant bacteria.

Geographically, APAC will witness the highest CAGR, of approximately 7%, from 2021 to 2030. Being home to some of the most populous countries including Japan, India, and China, there is a skyrocketing consumption of these products leading to rising healthcare expenditure in this country. Moreover, this is complemented by extensive government support. There is a rising investment in the healthcare infrastructure by the governments of various countries to meet the requirements of the growing geriatric population.

Therefore, the increasing incidence of cardiovascular diseases, coupled with a rising geriatric population will provide prospective opportunities to market players.

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Why Will North America Lead Data Center Power Market in the Forecast Period?

The prominent factors thriving the global data center power market are robust adoption of cloud solutions, generation of a huge amount of data, and an increase in the number of data centers. In 2021, the market stood at $19,555.1 million and it is projected to touch $33,380.1 million by 2030. Moreover, the market is projected to advance at a CAGR of 6.1% from 2021 to 2030, owing to the huge requirement of entrepreneurs to drift to data centers from server rooms, the surge in smartphone penetration, the rise in social media usage, and the increase in the count of internet users.

In 2021, the tier III & tier IV category ruled the data center power market, holding approximately 90% of the total revenue share, and this trend will continue in the forecast period as well. This can be credited to its unique features, which include providing the N+1 and 2N redundancy, implying that the complete IT load can be assisted by the structure, simultaneously encompassing additional equipment for power backup, so that the execution is not hampered even if any part fails. The redundant systems ensure the smooth functioning of the performance during any failure.

Within the equipment type, the data center power market will witness a skyrocketing demand for UPS systems because of safeguarding critical components across a facility and maintaining continuity in the functioning of larger data centers. They comprise dual-bus capabilities and multiple configurations to confirm the working of critical systems during power blackouts and outbursts. To converge with the critical component’s power needs, the control system and modular creation of a completely redundant power can be sized by the UPS systems. For any changes in the power requirements, the simple inclusion of the capacity will work.

In 2021, North America held the largest revenue share in the data center power market. This is attributed to the significant spending on R&D activities in this region, which further pushes the formation of next-generation facilities, which are efficient in managing power and technologically advanced. Being home to many data center developers, the region will witness significant market growth. However, APAC will be the fastest-growing market in the forecast period because several regional countries, such as China, Japan, and India, have integrated edge computing locations. 

Hence, an escalating count of data centers, coupled with a dire requirement of entrepreneurs to drift to data centers from server rooms will drive the market.

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Why are Sales of Electric Rickshaw Chargers Booming in Uttar Pradesh?

 The increasing deployment of electric rickshaws, on account of their lower operating costs than the conventionally used cycle rickshaws, is driving the demand for electric rickshaw chargers in India.  Additionally, the Indian government is launching various initiatives and providing financial incentives for encouraging the deployment of these vehicles in the country. According to the India Brand Equity Foundation (IBEF), the electric vehicle industry is predicted to generate a revenue of Rs. 50,000 crore (US$ 7.09 billion) by 2022, with the Indian EV industry expected to require investment worth Rs. 12.5 trillion (US$180 billion) till 2030 in order to cater to the country’s electric vehicle ambitions. 

Moreover, the government has enacted several environmental policies, which have propelled the adoption of electric rickshaws in the country. Besides the aforementioned factors, the entry of several leading automotive companies such as Hero Electric Vehicles Pvt. Ltd. and Mahindra & Mahindra Limited in the Indian electric rickshaw industry in recent years has catalyzed the growth of the Indian electric rickshaw charger market. In addition, the extensive usage of electric rickshaws in India for public transportation is also creating lucrative growth opportunities for the electric rickshaw manufacturers in the country. 

India Electric Rickshaw Charger Market 2022-2030

There are mainly two types of electric rickshaw chargers used in the country—fixed and portable chargers. Of these, the demand for portable chargers is predicted to rise rapidly in the coming years. This is attributed to the fact that portable chargers allow anywhere and anytime charging and provide an alternative to the conventional charging stations. Because of these reasons, these chargers offer greater convenience to users and are therefore, widely preferred by electric rickshaw operators in the country.

According to the observations of the market research company, P&S Intelligence, the sales of electric rickshaw chargers are currently the highest in Delhi. This is credited to the early and large-scale adoption of electric rickshaws in the city, on account of the escalating air pollution levels, because of the extensive usage of oil and gas-powered vehicles. Delhi is one of the worst cities in the country in terms of toxic emission generation and heat-trapping. As electric rickshaws are environment-friendly and highly convenient for short-distance commuting, they are being widely preferred by people in the capital city.

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