Surging Cancer Prevenance Drives DNA Microarray Industry

The DNA microarray market was USD 1,982.1 million in 2023, and it will increase to USD 3,930.8 million, with a 10.5% compound annual growth rate, by 2030.

This is because of the rise in the occurrence of cancer across the globe, rising use of this technology in its findings, and advancements in information technology, including software.

DNA microarray has numerous applications, including disease diagnosis & monitoring, agricultural biotechnology, protein expression & proteomics, discovery of novel medication molecules, and cancer diagnosis. The increasing funding for research purposes and the rising utilization of this technology in gene expression also boosts the industry expansion.

North America led the industry in 2023, with approximately 40% share, and the regional industry will further propel at a robust rate in the years to come. This can be mainly because of the existence of major companies in this continent and the increasing funding by them to develop technologically enhanced DNA microarray products.

APAC is expected to advance at the highest rate in the years to come. This is because of the increasing funding and contributions by both foreign and local life sciences establishments and the high incidence of cancer and various other chronic illnesses in this region.

With the mounting prevalence of cancer all across the globe, the DNA microarray industry will continue to grow in the years to come.

Read More

Navigating Healthcare's Ever-Changing Landscape with Consulting Firms

In 2023, the worldwide healthcare consulting services market recorded a revenue of USD 31.7 billion. Forecasts predict a robust compound annual growth rate (CAGR) of 11.4% from 2024 to 2030, ultimately reaching a projected value of USD 66.6 billion by 2030.

This can be credited to the growing rate of healthcare digitalization, brand positioning, aggressive marketing, and acceptance of new techs in medical sciences. Furthermore, the positive changes in the healthcare IT landscape because of the robust backing by the government in emerging nations boost the industry.

The industry for consulting facilities is growing mainly because of the fast acceptance of digitalization. Furthermore, key companies offering healthcare services are focusing on bringing technical improvements for offering precise and competitive data to healthcare providers. 

The digital health consulting category will advance at the fastest rate during the forecast period. This is mainly because of the acceptance of new techs in the medicinal field, mainly digital solutions over paper-based administrative methods in developed nations. 

In 2023, the North American region has experienced the largest share, of approximately 45%, and it is projected to show a strong CAGR during the forecast period. This is mainly because of the ample government funding for the making of nationwide and state-wide healthcare data exchanges, and also the increasing acceptance of healthcare IT solutions. 

Moreover, the high acceptance of digital solutions by public healthcare agencies, biotechnology & pharmaceutical businesses, hospitals, and other related establishments makes the region lucrative for healthcare consulting businesses.

Read More

Reviving the Road Exploring the Second-Life Automotive Lithium-Ion Battery Market

The second-life automotive lithium-ion battery market was USD 987.5 million in 2023, and it will rise to USD 4,379.2 million, advancing at a 23.8% CAGR, by 2030. 

The growth of this industry is mainly because of the costly battery recycling procedure as well as the increasing acceptance of electric vehicles all over the globe.

Different nations across the globe are strictly introducing their goal to accept electric vehicles in the coming years, thus, forming profitable growth opportunities for EV and battery makers.

The rising count of partnerships as well as collaborations is a key trend being witnessed in this industry. Key energy storage technology providers and OEMs around the globe have taken different business initiatives, such as pilot projects, to discover the applications of utilized EV batteries. 

This is being carried out to support energy storage in commercial, residential, and industrial locations and promote electric vehicle charging at both public charging stations and homes.

The lithium–iron phosphate category was the largest contributor to the second-life automotive lithium-ion battery market in 2023, with a 35% share. This can be because LFP batteries are relatively safer compared to other kinds and have a better life span, thus, it is favored by numerous EV makers, particularly in China.

The passenger car category led the industry in 2023, with approximately 50% share. This can be because of the backing from the governments of key automobile-selling nations, including the U.S. and China, for making new-energy cars.

In addition, the increase in the need for fully electric passenger cars with a high-range-per-charge feature is also boosting this category expansion.

The base stations category was the largest contributor to the industry in 2023, with approximately 45% share. This can be mainly because battery systems are progressively being employed in telecommunications base stations as aggregated as well as highly distributed assets for frequency containment reserves.

APAC accounted for the largest share of the industry in 2023, of approximately 55%. This can be mainly because of the region’s largest EV sales across the globe, powered by China. Moreover, China stands as the largest electric car industry in the world, with approximately 60% of the worldwide electric cars sold in 2022. 

Europe was the second-largest contributor to the industry, and the region is further likely to advance at the fastest compound annual growth rate, of 24.4%, in the years to come. This will be primarily because of the surge in the sales of electric vehicles; sales rose by more than 15% in 2022.

With the costly battery recycling process, coupled with the surging acceptance of electric vehicles worldwide, the second-life automotive lithium-ion battery industry will grow continuously in the years to come.

Read More

North America Makes the Most Use of Third-Party Logistics Solutions

The total size of the third-party logistics market was USD 1,096 billion in 2023, which will power at a rate of 8% by the end of this decade, to touch USD 1,870.4 billion by 2030. The key drivers for the of the industry are globalization and growth of the e-commerce sector.

 IoT, blockchain, and AI, have augmented security by allowing instantaneous tracking and guaranteeing smoother and more-effective processing of these kind of operations. Militaries also now make use of this approach as they get a more-advanced method for expertly transferring resources to areas where they are prominently required.

The roadways category was the leader of the pack, with a share, of about 45%, in 2023, as this mode provides accessibility, flexibility, actual product manufacturers, and cost-efficacy for logistics companies, and end customers. The widespread road network in all regions and the high requirement for last-mile deliveries make a substantial contribution to this category’s dominance.

IoT allows systematic management of the shipment, helping service providers to keep a track of the inventory while on the move. It also offers analytics, which directs the selection of placement and precision of inventory.

It provides access to 3PL companies for anticipating seasonal inventory builds and similarly supports in routing transport automobiles for ensuring the least damage possibility for fragile goods. Integrated supply chains have generated solutions for improved visibility, transparency, and answerability, crucial for global supply chains, becoming more and more complex.

North America leads the third-party logistics market, with a share of around 50%, in 2023. The region has a has a highly sophisticated logistics infra, and companies are continuously investing in warehouse management systems, transportation management systems, and real-time tracking solutions.

The fastest growth in terms of region was with the APAC with 8.5% by the end of this decade. The location of the region makes it a trade hub. Therefore, with more international trade happening within the APAC countries, 3PL service providers have a lot of opportunities in the region.

The domestic transportation management will have the fastest CAGR of around 8.4% in the future, powered by the incessant growth in e-commerce sales. The effect of the pandemic led to a shift in consumers’ requirements to same-day deliveries. Domestic transportation management contributes to an important and dynamic supply chain, strengthening 3PL providers. Regarding this, the convergence of novel market policies, technologies, and consumer requirements has boosted the industry growth at a greater pace than before.

 It is because of the development of e-commerce industry all over the world, the demand for third-party logistics is on the rise. This trend will continue in the years to come as well.

Read More

Cloud Based Data Management Services Market is Led by North America

According to the latest market research study published by P&S Intelligence, the cloud-based data management services market was USD 40.7 billion in 2023, which will rise to USD 258.4 billion, with a 30.4% compound annual growth rate, by 2030.

This is because of the increasing acceptance of cloud services and the requirement for cost-effectiveness, digital banking, remote work, accessibility, data backup, scalability, disaster recovery, and versatility among businesses.

In addition, the increase in the requirement for data incorporation as well as analytics services is further assisting the growth of this industry.

Cloud-based services are provided on the Internet that enable businesses and individuals to store, analyze, or manage enormous volumes of information. Services comprise data incorporation, management, warehousing, artificial intelligence, and machine learning. 

North America was the largest contributor to the industry in 2023, with a f 45% share. This is because of the strong economic development as well as established infrastructure in this continent. Moreover, the regional industry also profits from an extensive range of sectors like R&D, BFSI, construction, and medical services.

Furthermore, the continent has a growing media communications framework, the determination to swiftly embrace improvements in all technologies, and a large usage rate for the internet. 

With the surging acceptance of cloud services, the cloud-based data management services industry will continuously advance in the coming years.

Read More

Saudi Arabia Residential AC Market to Touch USD 917.8 Million in 2030

The Saudi Arabia residential AC market will touch USD 917.8 million, growing at a 6.5% compound annual growth rate, by 2030.

The growth is driven by rising humidity and heat, changing lifestyles, increased investment in the housing sector, and higher disposable income in the country. Additionally, Saudi Arabia's rapid economic development has resulted in a significant increase in building construction, further driving the demand for air conditioners.

Furthermore, as one outdoor system can regulate various indoor parts, split ACs are capable of providing even cooling in the home. Also, this means that split air conditioners can provide substantial savings for larger home cooling plans.

Additionally, split ACs are fitted high and intended for cooling bigger spaces, and it is possible to attain split ACs of a high tonnage, of more than 2 tons.

The e-commerce category, on the basis of distribution channel, was the largest contributor to the Saudi Arabia residential AC market, in the past few years. This distribution channel provides goods at relatively lower values, which makes it an ideal choice to purchase ACs online.

The increasing advancement of housing units in this region makes it the largest contributor among all the regions. Moreover, the western portion of the Kingdom comprises large cities such as Makkah, Medina, and Jeddah, which are observing an enormous influx of people from rural parts of the nation and guests from other nations, therefore, boosting residential construction activities.

In addition, the nation is also focusing on promoting power-efficient residential ACs, to guarantee the preservation of resources. The air conditioners are offered with their energy efficiency ratings and the ones that have more ratings get financial incentives from the government.

The major drivers of the Saudi Arabian residential AC market include the increasing heat and humidity in the environment, the rising disposable income and changing lifestyles, and the surging investment in the housing sector in the country. 

Read More

Managed Security Information and Event Management Services Industry Growth and Future Analysis

In 2023, the managed security information and event management (SIEM) services market was valued at approximately USD 7,531.7 million. Projections indicate a robust growth trajectory with a compound annual growth rate (CAGR) of 16.5% anticipated between 2024 and 2030. This growth is expected to propel the market to reach a substantial valuation of USD 21,707.2 million by the year 2030.

Security information and event management is a complete tech software that adds security event management and security information management into a single channel. The software helps companies from numerous sectors recognize and extenuate potential security dangers and threats.

Such solutions have turned into vital cybersecurity tools for an association as they are a central log system that gathers, analyzes, stores, and places data from all the systems connected with the establishment’s network.

Yet, the full utilization of this solution by an organization's internal IT department is both costly and intricate. A considerable number of companies find it challenging due to the expense and complexity, compounded by the absence of in-house human resources adept at using the solution.

The surge in cyber fraud occurrence is boosting the need for advanced security solutions, which, ultimately, is boosting the industry. According to a U.K.-based IT Company, cyberattacks increased by 125% at the worldwide level in 2022, compared to 2021. Among the numerous kinds of frauds— phishing, malware, data breaches, ransomware, and botnet—phishing is the most common.

In recent years, over 300,000 internet operators reported being phishing victims, and nearly 80% of the companies were the target of a phishing attempt in 2022. Moreover, people from educational establishments are the most likely to open a phishing email, and the monetary sector tends to come out on top, being the most extensively attacked industry by phishing. Additionally, SMEs experience approximately 300% more phishing and other cyberattacks than large enterprises.

Co-managed Security Information and Event Management (SIEM) represents a collaborative security approach, fostering a partnership between companies and managed security service providers (MSSPs). This cooperative strategy integrates the strengths of both entities to deliver a comprehensive security solution that caters to the diverse security needs of businesses.

Co-managed SIEM services offer enhanced threat detection, shared responsibility and management, responsive capabilities, along various other advantages. As a result, these services are widely favored for their scalability and customization benefits, contributing to more efficient event management and monitoring.

The managed SIEM services industry in the APAC region is projected to grow with the fastest development, boosted by the growing rate of digital transformation, increasing cloud acceptance, and increasing online connectivity. The varied cyber threat landscape, added with a rising awareness of cybersecurity measures, is convincing enterprises to invest in active safety solutions. 

Read More