What Role Does IT Play in Micromobility Industry?

 The entire concept of micromobility is enabled by IT technologies, including mobile phones, mobile and desktop apps, digital payment platforms and telematics solutions. Micromobility involves sharing two-wheelers (gasoline/petrol and electric) for short-distance transportation, with the bookings and payments being almost exclusively facilitated by mobile apps and websites of the service provider.

How IT Facilitates Micromobility Ride Booking?

To book a ride, the user needs to either download the service provider’s mobile app or visit its website. There, you enter all the trip details, including the destination and origin, the vehicle type (bicycles, kick scooters, and scooters) and preferred journey time and then, make the payment. Following this, you get the pickup spot on the mobile app or your account on the service provider’s website for both station-based and dockless micromobility systems and a code to unlock the vehicle. Then, you reach the spot, put in the code into the vehicle’s dial pad, and you are ready to ride!

What Benefits IT Provides to Micromobility Service Providers?

While IT technologies allow people to book and pay for the rides, they enable a whole lot more for the service providers. When it comes to micromobility companies, the digital technologies available to them are grouped under ‘telematics’. By studying the data fed to the central company system from the small computer onboard the vehicle, service providers can take a stock of their fleet utilization, including the number of vehicles in use at a time, the most-popular routes and journey times, and average kilometers/miles ridden per day, week, or month.

Such a usage analysis further allows companies to know the best times for the utilization of their services, so that trip fares can be elevated or reduced accordingly. During periods of low utilization, companies may want to substantially reduce the fares or provide an offer to lure customers. Similarly, during times when the demand for the services is high, companies could employ dynamic pricing (the higher the demand, the higher the rates).

The telematics solutions also pair users’ smartphone app with the onboard computer, ensuring that only the particular vehicle the user has received the unlock code for can be unlocked using it. Moreover, companies can see the charge remaining in the battery or fuel in the tank, to know when it is time to recharge or take the vehicle to a petrol pump (gas station). Similarly, the health of onboard systems, such as the motor or engine, tire pressure, the computer, GPS/telecommunications module, ADAS, headlights and taillights, battery management system, and AC–DC/DC–DC converter can be monitored, thus allowing for predictive maintenance.

Moreover, the GPS allows companies to track the location of the two-wheeler in case it goes missing or breaks down or if the user presses the panic button, thus prompting a search & rescue operation by the service provider or the authorities. Advanced telematics systems might also offer vehicle-to-pedestrian, vehicle-to-vehicle and vehicle-to-infrastructure connectivity, thus making the journey more enjoyable for the rider and fleet management easier for the service provider.

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How Does Rise in Geriatric Population Impacts Medical Device Coating Sales?

In 2021, the medical device coating market companies made $7,861.4 million, and it is expected to rise to $15,165.9 million in 2030, advancing at a rate of 7.6% from 2021 to 2030, attributed to the growing awareness of minimally invasive devices. In addition, the increase in the incidences of healthcare-associated infections, including ventilator-associated pneumonia, and catheter-associated urinary tract infections propel the demand for medical device manufacturers to coat anti-microbial agents on their products.

In addition, the rise in the geriatric population, coupled with the surge in healthcare-related challenges has boosted the medical device coating industry with the rise in the implants’ demand. Furthermore, the increase in the requirement for early detection of diseases is projected to expand the demand for medical devices, which, in turn, will drive the growth of the industry in the near future.

The primary medical device coating market trends are urology, cardiovascular catheters, and hydrophilic lubricious coatings. In addition, the rise in awareness of novel surgeries and the increasing requirement for improved healthcare facilities are projected to create opportunities for market players in the coming future.

North America is the largest contributor to the sales of medical device coatings, and it is projected to capture sales worth $5,408.5 million in 2030, ascribed to the increased improvements in the technologies of medical devices, coupled with their ease of access booms the demand. In addition, the presence of healthcare facilities in large numbers and the surge in the R&D investments in healthcare propel the industry in the industry.

Therefore, the rise in the elderly population with increased demand for implants proliferates the medical device coating industry.

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How Does Increase in Demand for Consumer Home Appliances Contribute to a High Rise in Stabilizers Sales in India?

In 2021, the Indian stabilizers market generated $676.2 million, and it is projected to contribute $1,359.8 million in 2030, progressing at an 8.1% rate from 2021 to 2030, ascribed to rising government focus on smart city development projects and major investments under Invest India initiatives and make in India. Moreover, the increase in the electrical appliances sales such as refrigerators, televisions, and ACs boost the stabilizers industry. 

Servo-controlled stabilizers are projected to experience the highest sales in the coming years, accounting for 8%, ascribed to the increasing consumer awareness of appliance rating structures, and the benefits of products with a higher rating. Along with this, the higher reliability, improved correction speed, and durability boost the demand od servo-controlled stabilizer in the industry. 

The rise in the demand for consumer home appliances such as refrigerators, ACs, and TVs has been witnessed after the 2020 pandemic, as a large number of people kept working from their homes, resulting in a massive rise in average ticket sales of comfort home products. For example, the demand for split ACs in towns and tier-II cities is 12% higher compared to tier-I cities. Moreover, the premium products such as high-capacity refrigerators, large-sized smart televisions, smart washing machines, and other IoT and AI-enabled products are penetrating the smaller tier-II cities.

Uttar Pradesh is projected to showcase the fastest growth in the stabilizer industry of the country, progressing at a rate of 9% in the coming years, ascribed to a rise in the state’s electricity connections, specifically in rural areas where power supply keeps fluctuating.

In addition, Tamil Nadu captures the extensive revenue share generated by the sales of stabilizers in the country, ascribed to increased penetration of local manufacturers, rising incidence of electricity fluctuations, wide population, and large numbers of residential and commercial spaces.

Therefore, the rise in the sales of the mainline stabilizers and increased demand for electric appliances for home comfort in tier-II cities caused by mass adoption or remote work post-COVID-19 boost the industry.

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Increasing Geriatric Population Needing More and More Orthopedic Biomaterials

The orthopedic biomaterials market had a value of above $14 billion in 2021, and it will advance at a growth rate of about 10% in the coming years, to reach above $32 billion by 2030. The reconstructive joint replacements had the largest demand in 2021, with revenue of above $4 billion, and it would grow at a significant growth rate of above 9%, in the future. This is for the reason that the occurrence of severe damage and late-stage osteoarthritis is quickly increasing.

The hospitals had the largest demand of approximately, 42%. In many nations, hospital admissions and patients visiting for orthopedic procedures have significantly increased over the past twenty-thirty years. Patients generally like to be treated at hospitals since contemporary therapeutic approaches are available here.

The rise in musculoskeletal problems will boost the growth of the orthopedic biomaterials market. Musculoskeletal ailments are the main causes of disability worldwide, according to research, with these disabilities upsetting 20-30% of people. Fractures, inflammation, and pain in the joints, ligaments, and tendons are the prevalent musculoskeletal issues resulting in constrained mobility.

North America has the highest demand for orthopedics biomaterials and will grow at a significant rate in the coming years. This is due to the increase in the volume of patients experiencing knee reconstruction and replacement and other treatments.

APAC will grow at the fastest rate of 10%, in the near future. The growing number of cases of musculoskeletal ailments, like bone degenerative illnesses, in evolving nations is one of the important reasons helping the regional industry to grow. Furthermore, the surging healthcare spending, along with the developments in the healthcare infra will have a positive impact on the demand for orthopedic biomaterials in this region.

The increasing geriatric population and the increasing cases of people having musculoskeletal conditions have a positive impact on the demand for orthopedic biomaterials.

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Why Does Flexible Foam Category Hold Largest Share in Bio-Based Polyurethane Market

Since they have a smaller negative impact on the environment, are less expensive, are readily accessible, and degrade over time, bio-based polyurethane coatings have begun replacing petrochemical-based coatings in large quantities. The global bio-based polyurethane market accounted for $34.8 million in 2021, which is predicted to hit a $63.3 million value by 2030. This is owing to the various applications of this polymer, including footwear, biomedical, packaging, and transportation.

Furthermore, synthetic polyurethane compounds are toxic and non-biodegradable. They also use petrochemical-based raw resources, which are already running out, driving up the price of polyurethane manufacture. The bio-based version's excellent compressive strength, bending strength, tensile strength, and water absorption makes it superior to polyurethanes made from petroleum.

The flexible foam category maintained the biggest share in the bio-based polyurethane market, followed by rigid foam and coatings, sealants, and adhesives. Bio-based polyurethane foam that is flexible is strong, supporting, lightweight, and comfortable. A wide range of consumer and business products, including carpet underlay, mattresses, vehicle interiors, chairs, furniture, packaging, and specialty items, employ the material as cushioning. The fact that this material can be extremely stiff, soft, or even viscoelastic accounts for its popularity.

The packaging is expected to grow at a 9% CAGR in the bio-based polyurethane market. One-component polyurethane adhesives are widely used in printed films, snack food bags, and shopping bags. In addition, polyvinyl chloride is attached to aluminum sheets for medical applications using a customized two-component polyurethane adhesive. Furthermore, due to its low viscosity and low application temperature, hot-melt polyurethane is ideally suited for wrapping applications.

Buildings that are environmentally friendly and cost-effective to operate are gaining popularity. The World Green Building Council, central organizations like the Ministry of Skill Development & Entrepreneurship, the SIDBI, and the GSA in the U.S., as well as state governments and municipal bodies internationally, have all recognized and rewarded green buildings.

Due to their high strength, bio-based polyurethanes are utilized in a variety of applications, including roofing, window and door profiles, pipes and gutters, glazing, cement, insulation, hardwood flooring, sealants & adhesives, heavy-duty rubber flooring, and parquet gluing. Due to their capacity to have high green strength, bond wet/frozen timber, and shear strength, they are also commonly used for ceramic tiles, bathtub surrounds, concrete, and mirrors.

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High Consumption of Brain Health Supplements Due to Growing Prevalence of Stress & Anxiety

 The brain health supplements market contributed $7,910.1 million in 2021, and it is projected to advance at a rate of 7.8% and capture $15,525 million in 2030. The rising demand for health supplements is projected to enhance attention, memory, and the ability for stress management, more specifically among the elderly population boosts the industry.

The worldwide rising trend of veganism massively impacts the landscape of food and vitamin supplement. Consumers turning vegan are opting for plant-based omega-3 supplements to maintain a healthy lifestyle. In the past few years, veganism has fetched people’s interest tremendously. The fish oil is highly being replaced by omega-3 sourced from algae for its nutritional value and taste.

Brain Health Supplements Market Size and Share Analysis Growth Forecast to 2030

The memory enhancement category holds the largest share of the brain health supplements industry, accounting for 30%. It is ascribed to the growing awareness of mental health. According to Alzheimer’s Disease International report, around 55 million people were suffering from dementia in 2020. In addition, it is predicted that 78 million people would be living with dementia in 2030, and 139 million are predicted to experience dementia conditions in 2050.

According to WHO, Alzheimer's disease would result in 70% of cases of dementia globally. The growing
awareness of such diseases is projected to boost the demand for supplements for maintaining a strong memory.

The depression & mood category is projected to experience the fastest growth. Depression can happen to anyone, irrespective of age. The elderly population is more likely to suffer from depression. The rising prevalence of depression and growing understanding of measures for its prevention and alleviation drives the industry.

Moreover, stress & anxiety is the next-fastest growing category in the industry. Around one in every three persons aging from 13 to 18 experience anxiety at some point in time, according to a government agency. According to WHO, COVID-19 has caused an increase of the 25% in anxiety and depression prevalence globally. The rising levels of stress and anxiety are projected to result in its growth in the near future.

The busy and hectic schedule of people has made them switch from physical purchasing to online shopping. The product reviews and information relevant to products available on online platforms help in making purchase decisions. Moreover, during a pandemic, the supplement companies opened new sales channels to expand their consumer base, when people remained at home due to lockdown.

The herbal brain supplements utilize plant-based and natural ingredients such as curcumin, ginkgo Biloba, and green tea extracts to sharpen memory and increase the blood flow to the brain, thus improving cognitive functioning and reducing mental tiredness.

The growing requirement for brain supplements with herbal extracts will increase the preference for herbal products in emerging economies, such as India and China. In the U.S. and Europe, herbal medicines utilized in traditional Chinese medicine are often marketed as supplements. Therefore, the herbal extract category is projected to witness the highest growth in the coming future.

Therefore, the vitamins and minerals category are projected to experience the highest growth in the coming future, as they are necessary for the proper functioning of the brain. For instance, B1 facilitates brain nerve communication, and B2 causes relief from headaches and increases energy production, while B9 enhances brain health and mood.

Thus, the rising elderly population more prone to memory disorders and depression boosts the demand for brain health supplements.

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Bubble Food and Beverages Market Is Set To Hit $8,096.2 Million by 2030

 In Taiwan, bubble meals and beverages, including tapioca balls for added nutrition, were first developed. They are now trendy, especially among young people. The youth's preference for foods and beverages made with boba is what fuels the demand for such items.

Bubble Food and Beverages Market Size and Share Analysis Growth Forecast to 2030

For instance, Traditional tea is said to be less caloric and less tasty than bubble tea. Additionally, because bubble food and beverages are considered new-age products, they are promoted in creative, odd, colorful, and enjoyable ways, which aids businesses in attracting college students and young adults.

Read More: Bubble Food and Beverages Market Analysis and Demand Forecast Report

People are being compelled to increase their diet of pure carbs, proteins, and fibers due to an increased focus on health and fitness, and food products, including tapioca, may supply all of these nutrients (cassava).

The global bubble food and beverages market is expected to touch $8,096.2 million by 2030. The benefits of items created with organic, natural, and vegan tapioca pearls are becoming more widely known, which is to blame for this. Manufacturers have been encouraged to make significant R&D investments to provide innovative bubble meals and beverages.

The bubble food and beverage industry will develop quickly in North America with a 10.8% CAGR. Numerous restaurants are sprouting to meet the growing demand for such foods, especially for bubble tea fans. In essence, bubble tea is a milk-based beverage with fruit jellies and chewy tapioca balls as components.

Because of their fast-paced lifestyles, young people like drinks that are easy to carry and superior to carbonated beverages. For instance, the famous New York City restaurant MBambu offers a wide selection of fruit juices, Vietnamese coffees, boba milk teas, and fresh, healthy, and genuine Chè dessert beverages.

Furthermore, producers have been motivated to introduce new products and establish more stores as a result of increased expenditures in R&D and growing customer knowledge of the advantages of goods made with natural, organic, and vegan tapioca pearls.

The region where these items were developed, APAC, generates the second-highest demand for them. This is partly due to the fact that several businesses sell these goods in India, New Zealand, Japan, Thailand, China, and Australia.

Young people enjoy eating wholesome snacks with flavorful foods. There are several cafes providing bubble pudding and bubble tea in India, a market expanding for bubble-related goods and drinks. The bubble tea flavour may be readily altered to suit various palates, making it a delightful beverage.

Additionally, café proprietors continually experiment with tastes and low-calorie menu items. These items also provide sweet potato brownies and vegan chickpea brownies, both delectable and nutritious options.

For a while, bubble tea dominated the bubble food and beverages market, and this trend is expected to continue throughout this decade. This is attributable to the introduction of bubble tea in various flavors in important countries, including Australia, China, and Thailand.

Next on the list, as millennials experiment with their diets, are desserts. They are choosing treats made with tapioca that have tastes like green tea, strawberries, mangoes, oranges, honey melons, and pomegranates added.

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