North America Is Dominating the AI in Education Market

The global AI in education market was valued at USD 2,126 million in 2022, and this number is expected to reach USD 25,772 million by 2030, advancing at a CAGR of 36.6% during 2022–2030, as per P&S Intelligence. This growth can be credited to the snowballing expenditure in AI technology, the increasing need for personalized education based on AI, and the growing requirement for automating organizational tasks.

The whole scenario has changed after the pandemic, and numerous educational institutes throughout the globe have accepted numerous technologies, including virtual reality, chatbots, assign coursework, and learning management systems, for the betterment of their educational processes. Furthermore, numerous service providers are inventing many services for AI in academics. 

AI in Education Industry Revenue Estimation & Growth Forecast to 2030

In 2022, the solution category held a higher revenue share, of 77.4%, and it is projected to continue its dominance in the coming years as well. This is mainly credited to the surging need for AI academic services to allow educationalists to automate organizational tasks and discover more possibilities for improving the efficiency of classroom education. 

Moreover, numerous major players are concentrating more on the improvement of education systems step by step. Additionally, the increasing number of mobile phone users, growing government initiatives, improving internet connectivity, and surging acceptance of digital payment is contributing to the market growth in this category.

In 2022, the cloud category held a larger share of AI in the education market and is also projected to remain in the leading spot in the coming years. This is ascribed to the increasing utilization of cloud platforms to aid in IT modernization and the growing concentration on decreasing the total price of ownership. Moreover, cloud technology allows students to develop their knowledge and aids in managing business processes, which results in improved student engagement and better performance.

In 2022, North America generated the highest revenue, of USD 887 million, and it is projected to remain the market leader in the future as well. This is because the region has an advanced educational system, a high emphasis on lowering the burden on educators concerning administrative tasks, huge expenditure on EdTech, a growing necessity for personalized learning in teaching space, and a hike in demand for intelligent solutions to advance students’ academic performance in the continent.

The growing need for automating organizational tasks is another major reason driving the acceptance of AI learning solutions in the education sector. Teachers usually devote a lot of time to performing administrative tasks, including enrolling students, grading exams, assessing homework, and defining policies. AI can be very helpful in this regard, by reducing workload and stress on educators by automating administrative events, which, indeed, motivates them to pay more attention to the learning part for students.

Hence, the snowballing expenditure in AI technology, the increasing need for personalized education based on AI, and the growing requirement for automating organizational tasks are major factors driving the AI in education market growth. 

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Asia-Pacific Dominated the Global Agricultural Micronutrients Industry

The size of the agricultural micronutrients market was USD 4,321.9 million in 2022, and it will grow at a CAGR of 8.5% during 2022–2030, to reach USD 8,322.1 million by 2030, as per a report of a market research firm P&S Intelligence.

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

Cereals and grains dominated the industry regarding value, contributing a share in excess of 50%. With growing population and shrinking arable land, there is much more pressure on the maximization of crop yield, chiefly, cereals and grains production from existing farmlands.

There is a necessity to improve productivity, but it is hindered because of micronutrient deficiencies in plants and correspondingly, bio-magnification in food chain. These factors have a major role to play in improving the growth of the plants and edaphic qualities of soil, and are thus, will steer the demand in the years to come.

Also, the growing demand for cereals and grains, which has a lot to do with the growing population and diversifying nutritional requirements of people, will propel the acceptance rates for micronutrients therefore boost the growth in the years to come.

Application through soil had a significant share of around 50%, regarding volume in the recent past. The agricultural micronutrients market will also grow the fastest in the future. The method of application through soil is favored because of the low requirement of advanced machinery, ease of application, and easy assimilation into fertilizers.

APAC had over 50% share in the industry, in the past with respect to value. The growth has a lot to do with the increased application in China and India. Initiatives by agrochemical manufacturers and governments of these countries will create consciousness and supplement product acceptance amongst the local farmers. 

In coherence to same, different departments of the Indian government have launched a number of policies, including subsidies on fortified seeds, commencement of SHCs, and regularization of contract farming. Ultimately, these factors will be responsible for an increase in the demand.

It is because of the deteriorating quality of the soil in agricultural fields and increasing knowledge of the public about the advantages of micronutrients, the demand for agricultural micronutrients will increase leaps and bounds in the near future at the global level.

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Medical Device Outsourcing Market To Generate USD 273.0 Billion by 2030

Outsourcing the manufacture of medical equipment is known as medical device outsourcing. Medical device firms can outsource routine production and gain from cost savings, a simplified supply chain, and logistical alignment. These advantages enable them to bring commercial goods to market while guaranteeing that all requirements set out by the industry are satisfied.

The medical device's component that is outsourced to service providers and contract manufacturers includes a variety of services, including device assembly, design consultation, manufacturing process design, shipping packaging, process improvement identification, recurring processing, package testing validation, and sterilization validation.

According to a report by P&S Intelligence, the medical device outsourcing market is expected to reach USD 273.0 billion by 2030. This may be ascribed to the ongoing developments, increase in R&D spending in the healthcare industry, rise in need for medical devices, increased pricing rivalry, the need to cut costs, and an increase in the number of CMO/CDMOs throughout the world.

Globally, there is a growing need for outsourcing finished goods. This can be attributed to the surge in demand for inexpensive medical items and the mounting financial strain on the industry. Additionally, the healthcare industry's rapid technological development, high level of innovation, and significant player investment are propelling market expansion.

In 2022, the category of class II accounted for the biggest revenue share, of over 70%, and it will continue to hold that position going forward. This can be due to the rise in surgical operations performed throughout the world.

Category with Highest Sales Is Cardiology

The market's greatest share belongs to the cardiology category. This is due to an increase in surgical operations as well as an increase in cardiovascular illnesses, such as atrial fibrillation, myocardial infarction, angina pectoris, hypertensive heart disease, rheumatic heart disease, and congenital heart disease.

In the years to come, plastic surgery is predicted to grow at the quickest rate. This can be attributed to the rise in minimally invasive aesthetic procedures and the expanding outsourced product selection.

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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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