APAC Is Leading the LED Lighting Market

The global LED lighting market was valued at USD 68,954.7 million in 2022, and this number is expected to reach USD 152,842.0 million by 2030, advancing at a CAGR of 10.5% during 2022–2030, as per P&S Intelligence.

The increasing need for energy-effective solutions along with the development in infrastructure, the snowballing government initiatives regarding the acceptance of LED lights, and the mounting sales of horticulture lighting are major reasons driving the sales of such lights.

LED Lighting Industry Revenue Estimation Forecast to 2030

 

The declining cost of lights is an additional key reason for the market growth. The reduced cost has led to their advanced usage for numerous applications, such as industrial, residential, and commercial lighting. Because of the enhancements in technologies, the cost of production is significantly reduced while the effectiveness and lifespan of LED lights have enhanced remarkably in the past few years. Because of this, there has been a notable drop in the cost of lights. 

 

In 2022, the luminaire category held the highest revenue in the market of above USD 40 billion. This is credited to the extensive demand for luminaires, mainly from newly built commercial and residential buildings. Additionally, with increasing government initiatives regarding their adoption, the manufacturing of such luminaires is estimated to surge in the future. These lights are installed on tunnels, high bays, troffers, tracks, streets, and others.

 

The retrofit installation category is projected to experience higher growth, advancing at a rate of 10%, in the coming years. This can be ascribed to the increasing replacement of sodium-vapor lamps and incandescent bulbs with LEDs in several countries, including India, South Korea, China, South Korea, and the U.S. Furthermore, with the phasing out of incandescent bulbs in such countries, the demand for lamps for retrofit deployment is growing, which enhanced the sales in this category.

 

APAC is leading the LED lighting market, accounting for the largest revenue share, of approximately 50%, in 2022. This is credited to the snowballing demand for LEDs from the housing sector, principally in countries like India, South Korea, and China, due to increasing per capita income, the presence of a large number of businesses functioning in such countries, and the development in the construction of residential establishments.

 

Furthermore, because of the growing population, promising infrastructure growth activities in emerging economies, and increasing government initiatives with a concentration on energy effectiveness, the demand for industrial and commercial applications is rising, hence driving the manufacturing of LEDs in the region.

 

Hence, the increasing need for energy-effective solutions along with the development in infrastructure, the snowballing government initiatives regarding the acceptance of LED lights, and the mounting sales of horticulture lighting are major factors that will drive the LED lighting market in the future. 

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Europe Continues To Be Largest Market for MVNOs

The MVNO market generated revenue of USD 75,109.1 million in 2022, which will grow at a rate of 7.3% in the future, to reach USD 131,657.1 million by 2030, as per a report by a market research company P&S Intelligence.

The prepaid category will have the higher growth in the future, of approximately 8%. This has a lot to do with people choosing prepaid plans as they offer freedom to be customized as per requirements, particularly those that utilize pay-as-you-use model.

Mobile Virtual Network Operator (MVNO) Market Research Report

The postpaid category had the larger revenue share in the past, and it will dominate the industry in the future too. This is due to the fact that consumers are not required to pay anything upfront with these plans, and they also get a monthly bill according to the use of services. Furthermore, their unlimited service provision and facility of rollover of unused data contribute to the growth of the industry.

The consumer category had the larger revenue share in the recent past, and it will maintain its position in the near future, because of the rising count of mobile network subscribers. The growing use of mobile devices pushes the use of data-intensive applications, including the internet and online videos. Consequently, heavy investments are being made to improve the network coverage and increase the access to MBB connections, which will help the growth of the industry.

The European MVNO market had the largest share, over 40%, in 2022, and it will maintain its dominance in the coming years. This has a lot to do with the increasing acceptance of advanced technologies, infra development, and the presence of numerous MVNOs and high ARPU. Additionally, the increasing acceptance of integrated services, including voice-over internet protocol, supports the expansion of the regional industry.

APAC will grow the fastest in the future, because of the collaborations amongst industry players and cellphone manufacturers. Moreover, China and India, are working steadily for the betterment of their IT and telecom infra, for the delivery of enhanced telecom solutions. The development of the market in APAC will be significantly influenced by India, South Korea, Malaysia, China, Japan, and Australia, with their developed cellular networks.

Triple-play services are bundle packs provided by MVNOs, and they include television, broadband internet access, and latency-sensitive telephone services. The idea of triple-play has been successful in North America. There is a possibility that soon, these services will be delivered all across the globe via the internet. Likewise, major software companies are developing software that enables MVNOs to offer triple-play services.

Hence, the continuous increase in the use of mobile devices all over the world will be responsible for the growth of the market in the near future.

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Why Australians Prefer E-Commerce in Automotive Aftermarket?

Shopping via internet can be considered the new cool of the contemporary world, which is ruled by the internet to say the least. Be it the stuff of daily use or the spare parts of the vehicles, all of them can be acquired without breaking a sweat.

In this blog, we will mainly focus on the on the automotive aftermarket in the world, and especially in Australia.

The auto market in Australia is mature. There are 60 vehicle brands and 380 vehicle models sold in Australia, and there are over 3,600 dealer locations.

 Here are some of the benefits Australians will take home, if they get hold of the automotive spare parts through E-commerce platforms.

Get Lot of Choices To Choose From

 If you buy the spare parts of your car or bike through the online mode, there are various choices at your disposal. As most of the notable and even local manufacturers are listed on e-commerce platforms. This is a lot difference from going to a brick-and-mortar store and be content with only a handful of choices present there. So, if you want many choices for making a final choice, buying them through e-commerce can serve you well. 

Save on Costs of Spare Parts

When you look to buy an automotive spare part from an e-commerce store, then there are various economical benefits associated with it. Firstly, you will get competitive pricing, as more often than not, there is one or the other discount offer running on the product. Plus, you will not incur any travelling or related expense, as there is no need to step out, drive your car and purchase the part, which is needed.

Putting a Price Tag on Your Time

 It takes a lot of time to go to a store and buy anything, not just automotive parts. If you believe in the time is money theory, then if you find a traffic jam on the road, it can bite a lot of your time, and also money (in case the engine if the vehicle is still on and it is burning fuel). Buying the needed spare parts from e-commerce platforms allows you to get over your purchases in a relatively short span of time, and the time can be used in devoting more to the work and also the moments that matter.

Easy Doorstep Delivery

Sometimes the automotive spare part can be really bulky, and difficult to carry. If you stick to the traditional shopping of purchasing a part from a conventional store, then you will either have to drench in sweat or vent out pennies from your pocket to get it delivered at your doorstep. On the other hand, most of the e-commerce platforms provide free delivery of the products purchased. Even, if they charge some amount for delivery, it is a lot less than what you will end up giving, when shopping the conventional way.

Because of all these benefits of purchasing automotive spare parts online, the Australia e-commerce in automotive aftermarket will reach a value of USD 3,822.2 million by 2030.

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How Hybrid Electric Cars are Better Than Conventional Cars?

Come let’s explore hybrid electric cars, such cars are driven by an internal combustion engine joint with one or two electric motors that uses power via batteries. Mild hybrids—also known as micro hybrids—use a battery as well as an electric motor to provide power to the car and enable the motor to switch off when the car stops, which indeed is extremely helpful in improving fuel efficiency.

Difference Between Mild Hybrids and Full hybrids EVs

Mild hybrids—also known as micro hybrids, the systems in these cars cannot power the whole car only by electricity. Generally, these cars are less expensive than the full hybrid but have relatively fewer fuel economy benefits in comparison to full hybrids.

Full hybrids have more powerful electric motors and bigger batteries, which are able to provide power to the car if you want to travel for short distances and at low speeds. Such cars are costlier than mild hybrids but are more fuel economical.

Series Hybrid Cars

These kinds of electric cars run on motor, linked with a petrol engine in series. In this mechanism, the combustion engine is not connected with the wheels of the car, but through the electric motor. 

The working of the car depends upon the petrol/diesel engine burning the fuel and generating energy, but instead of generating heat and kinetic energy, a generator alters the energy from the petrol/diesel engine directly to electricity, which powers the electric motor, giving power to the car.

Invigorate Braking

These hybrid electric cars don’t require any plug-in charging, the car uses internal combustion and the engine regenerative braking to charge themselves. The car gets power during braking via the electric motor as a generator and storing the power in the battery.

Can all hybrid cars can be charged by regenerative braking? No, not all-electric and hybrid cars have this feature. Plug-in hybrid models need added energy from an electricity source to recharge larger batteries. 

Environmental Impact of Hybrid Cars

As we all know that hybrid cars run on also diesel and petrol and have combustion engines, then how these cars are better than conventional ones. Since these cars also contain electric motors that support the engine, such cars are way more fuel efficient and emit lot less emissions into the environment. 

Nickel–Metal Hydride Batteries Best Suited for HEVs

If we talk about the batteries, nickel–metal hydride batteries are most suited for hybrid electric cars, as it offers higher durability, low cost, and better safety features than Li-ion batteries. The extensive use of these batteries by Toyota Motor Corporation is also supported by the sales of NiMH battery-fitted HEVs.

Therefore, as the hybrid electric cars offer better fuel efficiency and it is an eco-friendly way to commute, such reasons will contribute to the growth of the industry in the future. 

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Exploring the Booming Electric Truck Market: Manufacturers, and Growth Opportunities

In 2022, the electric truck market registered a sale of 86,799 units, which will witness a 38.2% CAGR to reach 1,154,996 units by 2030, as per a report by a market research firm, P&S Intelligence.

The BEV category is all set to develop with a higher CAGR, of approximately 40% in the next few years. This can be ascribed to the increasing government aid in the form of economic subsidies for buying and developing these vehicles, and enhancements in technology. Government subsidies for these vehicles have been declared in some countries, with plans and arrangements for helping associated freight equipment and infrastructure.

Commercial vehicles are a vital part of the transport sector. To reduce carbon emissions from gasoline-based trucks utilized by fleet workers, the governments of several countries have declared a ban on the usage of diesel-based vehicles. This ban will be effective as early as 2030.

In 2022, APAC had a significant revenue share in the electric truck market, in which China is the biggest utilizer. The requirement for vehicles in the country is majorly boosted by supportive government initiatives, municipal air quality targets, and national alternative-fuel-vehicle replacement sales targets.

The electric truck industry in other regions is still growing and highly hinge on the strategies of the government. The reasonably higher upfront prices, undersized value chains, and existence of few OEMs have restricted sales in these regions. Still, the producers are profoundly investing in the growth of electric trucks, which will drive market growth in the future.

Hence, because of the high maintenance of gasoline trucks in comparison to e-trucks, and the reducing battery prices, the requirement for electric trucks will grow considerably in the future.

 

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Europe Leads the E-Cigarette Market

The total size of the e-cigarette market was USD 17,901.1 million in 2022, and it will reach USD 38,631.1 million by 2030, advancing at a rate of 10.1% in the years to come, as per P&S Intelligence. The decrease in conventional cigarette smoking is a major driver, with consumers shifting toward safer alternatives, including electronic cigarettes.

The growing consciousness about the harmful effects of smoking conventional cigarettes is increasing across the world. This has given rise to the development of alternatives, helping consumers to give away traditional cigarettes. 

In addition, cancer triggered by smoking is one of the main concerns all over the world. E-cigarettes eliminate the risk of cancer and avert the intake of over 4,000 chemicals, such as tobacco and numerous other carcinogens and toxins, present in tobacco smoke and cause cancer and lung ailments. Moreover, they produce fewer toxic substances and pose less risk to smokers with asthmatic problems.

The vaporizer category dominated the industry, with around 50% share, in 2022, and it will maintain its dominance in the future as well. The increasing acceptance of vaporizers is because of their reasonable cost, production of dense aerosol, and flexibility with a variety of flavors. Whereas, T-vapors are primarily famous in South Korea and Japan, where individuals prefer tobacco flavor, because of their close similarity to conventional smoking.

Males led the e-cigarette market, with above 80% share, in 2022. With more males switching toward e-cigarettes as a smoking-cessation substitute, males will continue ruling the industry in the years to come.

The online distribution channel will record the highest rate, around 13%, in the coming years. People are more tempted for buying vape products and e-cigarettes online because of the features of convenience, cost analysis, and access to a greater selection of goods.

The 16–24 age category held the highest revenue, of around USD 5 billion, in 2022, and will retain its position in the years to come. E-cigarette, including the JUUL device, is popular among the youth and have become an immediate hit in the 16–24 age group.

Furthermore, they do not stink strongly as conventional cigarettes, making it simpler for people to use them. Even non-smoking teens who would not try cigarettes might be tempted by JUUL and other renowned vape brands' tempting flavors and packaging. A trending idea is that vaping is less injurious and is simple for youth for purchasing vaping equipment through online mode.

Europe accounted for the largest share of the industry, owing to the occurrence of a large consumer count. Furthermore, with a drop in the habit of conventional smoking, the consumer base will shift toward electronic variants in the years to come.

With the fall in the rate of conventional cigarette smoking, the demand for e-cigarettes will increase all over the world.

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North America Dominates Low-Code Development Platform Market

The total size of the low-code development platform market was USD 19,301.5 million in 2022, and it is expected to advance at a rate of 33.2% during 2022–2030, to reach USD 190,898.4 million by 2030, according to P&S Intelligence.

In the recent past, based on offering, the solution category held larger share, over 60%, because of the surging acceptance of these platforms in different verticals for reduction of the long-term expenses on processes. It does this by reducing and, in sometimes totally eliminating the requirement of hiring skilled developers.

Through, with the help of these solutions, the digital transformation of organizations becomes easy and economical. Numerous features, including pre-built templates and drag and drop options, offer the aptitude to build apps instantly.

Cloud is how most of these kinds of programs are deployed, as it offers simultaneous access for observing and monitoring of apps and services. Cloud-based deployment delivers many other advantages, including 24/7 service, high speed, administrative competences, and higher scalability. Enterprises are generally using the cloud for easing monitoring and management.

Some of the common cloud-based platforms are and Mendix on IBM Cloud and App Maker on Google Cloud.

SMEs will have a faster growth in the years to come faster because of their increasing emphasis on having a digital presence with computer and mobile applications. This platform allows even non-skilled people to develop apps by themselves, at a low cost and rather quickly. 

Furthermore, solutions accessible through the cloud are generally subscription-based, so users only are required to pay for only what they use.

The IT category dominated the low-code development platform market, with around 65%, in 2022, because of the quick acceptance of new technologies. Software companies develop numerous desktop, web, and mobile apps and third-party solutions. Therefore, for enhancing the productivity and ensuring the optimal utilization of resources, these companies are accepting low-code development platforms for scaling-up their capacity of application development.

North America leads the industry, and it will consolidate the position in the future as well, with a value of about $70 billion.

This has a lot to do with the fast acceptance of digital technologies and existence of many key players. Also, the growing focus on consolidation of the IT infra is driving the need for computer and mobile apps and other software.

APAC will demonstrate significant development due to the growing use of internet usage and requirement of firms for lowering operating costs. Furthermore, the increasing usable income in emerging economies is propelling the sale of mobile devices considerably, which, fuels the industry growth.

Due to the increasing rate of digitization, the need for low code development platforms will increase all over the world.

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