North America Dominates AR and VR Market

As per a report by P&S Intelligence, AR and VR market was sized at $28.5 billion in 2021, and it will reach $200.1 billion by 2030, growing at the rate of 24.2% by the end of this decade. 

The growth of this industry has a lot to do with the increasing acceptance of these technologies in the entertainment, education, gaming, tourism, retail, and healthcare industry.

AR technology had a higher share in the past. The surging emphasis of companies on the development of innovative methods for capitalizing on the potential of AR technology and offering an engaging and unique experience to end users will fuel the need of this technology in the years to come.

Moreover, the growing use of smart glasses, smartphones and the successive increase in the usage of mobile AR technologies for delivering an immersive experience, will drive the industry in the future.

The hardware category had a larger share of revenue in the past, of about 61%, because of a considerable dip cost of hardware components, easy availability, and   their immense popularity in the gaming sector.

Moreover, it will produce a higher revenue also in the near future. This will have a lot to do with the increasing requirement for quality entertainment content and the focus of companies on the improvement their display features and providing tailored items to the companies.

Consumer application had the largest share of revenue in the past of approximately 55.6%, and it will dominate the AR and VR market in the years to come as well. This is chiefly because of the increasing awareness of these cutting-edge technologies and the growing demand for more immersive and interactive games.

Moreover, the increasing usable income has worked wonders in improving the sales of gaming systems, which would boost the growth of the industry in the near future as well.

The use of smartphones and advancements in technology have let people of viewing virtual graphics embedded in real-life surroundings. Also, users might connect with objects and pictures for engaging with them by just making use of a camera on their smartphones.

Furthermore, AR and VR technologies have become major smartphone components, and the requirement for these technologies is powered by the increasing requirement for such devices. Furthermore, smartphone manufacturers are working to produce the next gen computing devices, which will open up new avenues for the growth of the industry.

North America had the largest revenue share of 35%. The U.S. and Canada governments are making heavy investments in the deployment of these technologies for healthcare, aerospace & defense, and education, for training purposes, which will boost the demand in the region.

While, APAC had about 25%, share, and it will grow the fastest in the coming years.  The main reason for this is the increasing investments in the defense and commercial sectors, development in the automotive and healthcare industries, and fast industrialization in China, India, Japan, and South Korea.

With increasing advancements in ML and AI, the demand for AR and VR technologies is on the rise.

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North America Is Dominating the eDiscovery Market

 The eDiscovery market was valued at $10,542.4 million in 2021, and it is set to reach $22,089.3 million by 2030, growing at a CAGR of 8.6% between 2021 and 2030, according to a research report by a market research company P&S Intelligence.

This can be credited to the increasing concentration on the protection of metadata from electronic documents, the snowballing acceptance of digital technologies, and the growing electronic data volumes globally.

eDiscovery Market Size and Share Analysis Report

Furthermore, several businesses are heavily investing on numerous departments, this will facilitate them to incorporate smaller regional companies with their roots in the international market and strengthening their global footprints. 

 

North America held the largest market share in the past and is projected to continue its dominance with a value of over $9 billion by 2030. This can be because of the increasing acceptance of cloud computing solutions and digital forensics in the region.

 

In North America, the U.S. generated the highest revenue share in the past and is projected to grow at the fastest rate of approximately 8% in the years to come. This can be attributed to the increasing acceptance of legislation guidelines in the country.

 

Thus, healthcare administrations establish data and information governance methods, which comprise regulatory and litigation response preparation and e-discovery.

 

The APAC eDiscovery market is projected to grow at a significant rate in the years to come. This can be accounted to the extensive usage of IT solutions, in China and India concentrating on increasing productivity and maintaining nominal expense for the safety of private facts and figures, and the rise in regulatory and legal costs across many companies in the APAC.

 

The large enterprise category will grow at the higher rate of around 10% in the future. This growth can be credited to the fast adoption of technological and regulatory changes by big businesses, they have massive corporate networks and several revenue models, and their large investment in tools to support them in securing and managing vital information.

 

Cloud-based eDiscovery software held the larger revenue share, mainly because it supports cost reduction, has infinite scalability, offers robust security and discards physical barriers. 

 

The early case assessment category is expected to grow moderately in the years to come. This is mainly because this type of solution helps in digital innovation for legal and investigative matters, smoothly merged with the present infrastructure, deployed on the cloud, and is also helpful in reducing the volume of data to reduce the amount of time and money.

 

Therefore, the increasing focus on the protection of metadata from electronic documents, the snowballing acceptance of digital technologies, and the growing electronic data volumes globally, will drive the eDiscovery industry in the future.

 

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Europe Dominated the Grow Light Market

 The size of the grow lights market was $1,481 million in 2021, and it will reach to $13,183 million by 2030, advancing at a growth rate of 28% in the years to come as per a report published by P&S Intelligence. 

This is because of the growing requirement for food for food because of the increasing population, rising usable income, rapid urbanization, increasing preference for advanced farming practices, and technological advancements in the agriculture sector.

Grow Lights Market Size and Share Analysis Report

LEDs will be the most used in the years to come. This will be because of increase in the requirement of customers for energy-efficient and affordable grow lights and the increase in the count of government programs for promoting the use of LED drivers and lights. 

Furthermore, the growing requirement for economical and durable horticulture lights in numerous countries and the increasing usage of such lights in new farming activities because of their appropriate intensity for plant growth and cost-effectiveness are the main reasons of the high requirement for products.

The retrofit category had larger share of revenue in the past, and it will stay like this in the future as well. This is because of the increasing count of advanced farming facilities all over the world and the mounting use of such lights in existing farming facilities because of a drop in their prices.

Additionally, the need for retrofit installations is generally greater than the new ones because the latter needs lots a huge capital investment and a lot of time.

Vertical farming will have the fastest growth in the future in grow lights market with a growth rate of approximately of around 29.8%. This growth will be due the snowballing need for herbs and food, cultivated in vertically stacked layers; and the increasing count of such farms, particularly in developed countries, because of the lack of space required for setting up conventional farms.

The revenue share of the commercial greenhouses category was the largest in the recent past, and it will dominate the industry in the future as well. 

This is attributable to the increasing commercialization of greenhouses, mounting requirement for food all over the world because of the increase in population, declining availability of farming land, increasing acceptance of organic cultivation procedures, and growing necessity for higher energy competence in agriculture.

Europe had the largest revenue share, of approximately 33%, and it will maintain its dominance in the near future too. This can be because of the significant use of LED lights to grow plants in commercial greenhouses and a large base of consumers.

APAC will grow the fastest by the end of this decade. This can be due to the rising rate of urbanization, increasing requirement for food, growing population, budding acceptance of new agri- technologies, and increasing emphasis on urban farming.

It is because of the increasing need for food for the growing population, the demand for grow lights will increase significantly in the future.

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Why Thermoplastics Category Dominates Polymer Market?

A large molecule known as a polymer is made up of numerous monomeric building pieces that repeat. Polymers come in two varieties: natural and artificial. Synthetic polymers are produced through the polymerization of monomers, whereas natural polymers, such as resins, rubber, and gum, are generated from organic components.

Polymers exhibit a wide range of physical and chemical properties, such as viscoelasticity, hardness, and a propensity to form semi-crystalline structures. Several types of polymers include silicone, polypropylene, polyethylene, nylon, wool, and synthetic rubber.

According to P&S Intelligence, the worldwide polymer market is anticipated to reach $946,991.38 million by 2030. This is mostly due to the product's rising demand across a variety of end-use sectors, including automotive, packaging, and electronics.

To learn more about this report: https://bit.ly/3I3SQHx

Increased Use of Alternative Materials in the Automotive Industry

In the production sectors of the automotive and other industries, the use of lightweight elements as an alternative to traditional materials like metals and ceramics has grown.

Their exceptional mechanical, electrical, and chemical qualities, including their elasticity, strength-to-weight ratio, insulating and optical characteristics, and corrosion resistance, are largely responsible for this.

Additionally, it is predicted that a 10% decrease in vehicle weight results in a proportionate decrease in fuel consumption, which promotes the high volumetric use of polymer in cars.

Majority of Revenue Comes from Thermoplastics

The thermoplastics category held the biggest market share, with 69.2%. This is explained by the growing demand for thermoplastics in the food industry, which is driven by their low cost, great mechanical strength, and simplicity of production.

The need for thermoplastics has also increased as a result of similar qualities in other fields, such as the manufacture of storage tanks, lightweight constructions, and window panels and frames.

According to the application, the packaging category had the biggest market share. Polymers are replacing traditional materials in the packaging industry due to their fundamental properties, including high flexibility, protection, high shock/vibration resistance, and high resistance to exterior abrasion.

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How Does Abiotic Stress Fuel Consumption of Biostimulants?

Biostimulants can be defined as natural or synthetic substances. These are used in seeds, plants, and soil to influence growth. These substances have the potential to alter the vital and structural processes, provide tolerance to abiotic stresses and boost grain or seed yield and quantity. 

The global biostimulants market size stood at $3.0 billion in 2021, which is expected to reach $7.81 billion by 2030, advancing at a CAGR of 11.3% during 2021–2030. This is due to the promulgating demand for food coupled with the rising global population and the increasing hunger and malnutrition coupled with adverse climate changes. In addition, the overexploitation of natural resources by human activities, loss of biodiversity, and wastage of food are other factors driving the industry growth.

Biostimulants also reduce fertilizers requirement. They contain essential plant nutrients, plant protective compounds, and plant growth regulators, due to which plant productivity is improved. 

The small concentrations of biostimulants improve nutrition efficiency, crop quality traits, and abiotic stress tolerance. The extent application has these substances perform similar functions as plant hormones, such as gibberellins, auxins, and cytokinins.

The rising demand for sustainably produced food with higher biologicals concentration, and lesser synthetic chemicals concentration, boost the demand for biostimulants globally. The rising consumer awareness of the advantages of organic foods results in increasing consumption of biostimulants to improve yield.

Amino acids such as fulvic acid and humic acid are widely preferred for seed germination and metabolic processes in plants. It results in rising sales of the products.

Additionally, the rising requirement for the chemical to improve the agricultural production of grains, cereals, pulses and oilseeds, fruits, and vegetables to improve the growth of the root, nutrient uptake, primary and secondary metabolism, as well as crop tolerance to abiotic stresses.   

The major players operating in the industry are; BASF SE, Biolchim S.p.A., Arysta Lifescience Corporation, Koppert Biological Systems, Syngenta AG, Italpollina SpA, Valagro S.p.A., and Adama Agricultural Solutions Ltd. 

Therefore, the rising demand for food production boosts the consumption of biostimulants. 

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Population Explosion Fuels Demand for Vertical Farming

The worldwide vertical farming industry has garnered $3.98 billion in revenue in 2021, and it is projected to generate $30.2 billion revenue in 2030, rising at a rate of 25.2%. It is ascribed to advantages of the vertical farming, including less consumption of power, water, and land requirements, that facilitates growers to reduce the processing and washing time of produced crops. 

In addition, the shortage of agricultural land, and rising demand for organic food are major drivers of the industry. In addition, the advanced agriculture techniques provide support to growers to expand production by more than 230 times crop yields compared to conventional farming. 

 

The cannabis industry is primarily adopting enhanced indoor agriculture to boost productivity. Moreover, the unexpected explosion of the worldwide urban population and the rising focus on the eco-friendly production of fresh fruits and vegetables fuel the application of indoor agriculture. 

 

Furthermore, the rising demand and production of tomatoes have fuelled over the last years. In addition, the growing popularity of green salads fuels the demand for spinach worldwide. Vertical farming companies are producing various types of breeds to fuel production and cater to vegetable demand. 

 

The hydroponics category holds the largest revenue share, at 45%, and it is projected to retain the same position in the coming years. It is ascribed to economic implementation and ease of operation. Hydroponically grown plants produce greater yields compared to soil-growing plants. Such methods provide support in reducing the risk of diseases caused by soil. 

 

The aquaponics category is projected to capture the largest industry share in the near future. It is the combination of aquaculture or fish farming to develop an efficient closed-loop system, that propels the farming of various types of crops without impacting pesticides or harmful chemicals. 

 

The lighting category captures the industry share, ascribing to growing consumer demands for organic foods. The lighting components consist of LED lights, grow light reflectors, pink lights, grow light ballasts, and various types of artificial cultivation lights that support vertical agriculture. 

 

The shipping container leads the industry with more than 50% industry, and it is projected to experience the same trend in the coming future. The major advantages of container farming include easy transportation and less area requirement due to the whole process of crop production in a container. 

 

Such types of cultivation offer more than eight times the growing area, compare to single-level agricultural land. Thus, such cultivation offers nearly eight times better growing area compare to single-level agricultural land, thus it determines food security for a longer period in the city. 

APAC holds a significant share of the industry, with more than 32% in 2021. The Indian vertical farming industry is projected to rise rapidly in the coming years. Due to the insufficiency of fertile agricultural land and the growing population, vertical agriculture is massive adoption in the region. 

 

Therefore, the shortage of agricultural land fuels the demand for vertical farming industry. 

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How Does Rising Middle Class Boosts Sales of HVAC Systems in India?

The India HVAC Industry has garnered $7,820.5 million revenue in 2021, and it is projected to rise at a rate of 15.8% from 2021 to 2030, to generate $29,282.7 million in 2030. It is attributed to advanced infrastructure development, growing tourism activities, and technological advancements across the country.

In addition, the burgeoning disposable income and numerous government initiatives propel the appliances energy efficiency, resulting in industry growth.

Government campaigns, including Digital India, and Athithi Devo Bhava, increase the footfall of tourists. It thus, results into expansion of tourism and hospitality sector.

Moreover, global players are establishing factories in India, to meet the requirement of local population, and thus propels the industry growth. In addition, the burgeoning middle-class population and growing ventilation requirements fuel such systems sale.

Equipment category holds the substantial industry share, led by burgeoning demand in residential sector. It is due to extreme climate of the country, that results into freezing winters, and scorching summers.

Under the equipment segment, the cooling category captures the significant share, of over 80%, ascribed to subtropical climate in major parts of the country. The extreme heat during summers in norther region, rising humidity levels in southern and western parts of the country, and surging disposable income fuels the industry growth.

Moreover, rising number of SMEs, commercial hubs, and government projects, include Smart Cities Mission, fuel the demand for product.

Under end user, the commercial category has generated largest revenue share, of 52.1%, and it is projected to rise significantly in the coming years. It is ascribed to rising number of corporate offices and shopping complexes in the country. The rising number of high-rise buildings, malls, shopping complexes, and hypermarkets, in tier-II cities propels the industry growth.

The duration of summer is typically eight to nine months in the norther region, including two months of extreme humidity, that fuels the air conditioning systems demand. Additionally, the expansion of the construction sector, with road development propels residential and hospitality construction.

Similarly, airport sectors, ports, and railways are experiencing massive development and renovation. It thus, fuels the India based HVAC industry.

Presently, there is shifting focus on HVAC systems. The rising number of buyers adopt smart HVAC systems, to provide building automation, better controls, IoT based controls, and real-time performance monitoring.

Over the few years, the construction sector has risen considerably. It is ascribed to quick urbanization, advent of real estate regulatory reforms, and large-scale government projects. Over the years, the government initiatives to develop smart cities drive the construction activities. It thus, fuels the demand for HVAC systems.

Therefore, the expansion of construction sector fuels the India based HVAC Industry. 

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