Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Commercial AC Market

The prominent trend presently being witnessed in the commercial AC market is the burgeoning usage of refrigerants having low global warming potential (GWP). Currently, the most commonly used refrigerants in the commercial air-conditioners are R22, R404A, and R507. These refrigerants are based on chlorofluorocarbons (CFC) and hydrochlorofluorocarbons (HCFC). However, owing to global warming and the large-scale environmental degradation caused because of the widespread use of these refrigerants, they are being rapidly replaced by the R32 and other refrigerants having low GWP. 

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Geographically, the Asia-Pacific (APAC) region is expected to observe the fastest rise in the sales of commercial air-conditioners during the forecast period. This is mainly attributed to the fact that this region is home to the largest construction sector in the world. In addition to this, the high average temperatures in the region and the increasing disposable income of the people in various APAC countries such as India and China is generating huge demand for cooling appliances, especially for use in the commercial buildings. 

The increasing disposable income of people and growing travel and tourism activities are the other important factors propelling the demand for commercial air-conditioners across the globe. Due to these factors, the volume of sales of commercial air conditioners (AC) is expected to rise from 17.6 million units in 2019 to 25.4 million units by 2030. The global commercial AC market is predicted to exhibit a CAGR of 3.5% during the forecast period (2020–2030).

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Hence, it is clear that the demand for commercial air-conditioners will skyrocket throughout the globe, in the coming years, mainly on account of the increasing number of construction and infrastructural development activities and the thriving hospitality sector across the world.

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How is Increasing Prevalence of Autoimmune Diseases Fuelling Growth of Global Plasma Fractionation Market?

The surging incidence of autoimmune diseases is one of the major factors fuelling the demand for plasma fractionation across the world. According to the facts provided by the National Institute of Environmental Health Science (NIEHS), over 23.5 million people were found to suffer from rare autoimmune diseases in the U.S. in 2018. Furthermore, NIEHS supports the data given by the clinical research institutes regarding the way the environmental factors and immunity combine together and compromise the ability of the body to defend itself from autoimmune diseases.

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The increasing occurrence of immunodeficiency diseases amongst the people throughout the world is another major factor causing the soaring adoption of plasma fractionation procedures across the world. The major immune diseases having a high occurrence rate all over the world are multiple sclerosis, primary immunodeficiency diseases (PIDD), and immune thrombocytopenia purpura. According to the reports of the Immune Deficiency Foundation, almost 250,000 people were found to suffer from PIDD in 2018.

The other important factors propelling the requirement of plasma fractionation procedures are the soaring geriatric population in several countries that are highly vulnerable to many rare diesases, increasing utilization of immunoglobulins in the medicinal domain, and ballooning number of plasma collection facilities across the world. Due to these factors, the global plasma fractionation market is expected to register exponential growth in the upcoming years. Plasma fractionation is basically defined as the process of separating the different components of blood plasma.

Therefore, it can be concluded that the demand for plasma fractionation procedures will shoot-up all over the world in the years to come, due to the rising prevalence of chronic diseases, immunodeficiency diseases, and autoimmune diseases and the rising geriatric population across the world.

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What are Major Factors Responsible for Growth of Global Transplant Diagnostics Market?

The increasing prevalence of liver and kidney failure cases is one of the most important factors driving the surge in the demand for transplant diagnostics solutions across the world. In addition to this, the soaring initiatives being taken by the private and public companies throughout the world are tremendously boosting the adoption of transplant diagnostics technologies in healthcare settings across the globe. Furthermore, the increasing healthcare expenditure in several countries around the world is another important factor contributing toward the growing adoption of transplant diagnostics solutions.

Due to the above-mentioned factors, the global transplant diagnostics market size is expected to exhibit rapid progress in the forthcoming years. There has been a huge rise in the popularity of transplant diagnostics solutions amongst the medical practitioners and patients all over the world over the last few years, mainly because of the fact that proper diagnosis before transplantation procedures is extremely necessary for prescribing accurate medicine to the patients and for preventing graft rejection such as antibody-mediated rejection (ABMR) and T cell-mediated rejection (TCMR).

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The biggest application areas of the transplant diagnostics procedures are— heart transplantation, kidney transplantation, and liver transplantation processes. Out of these, the kidney and liver transplantation procedures are predicted to register higher adoption of transplant diagnostics solutions over the next few years. This is mainly attributed to the rising number of kidney and liver failure cases across the world. As per the Centers for Disease Control and Prevention (CDC), the share of the people who have received kidney transplants in the U.S. was almost 50% of the population of the country in 2017.

Across the globe, North America registered the highest demand for transplant diagnostics procedures in the last few years. The major factors responsible for the rapid expansion of the transplant diagnostics market in North America in the past are the presence of leading transplant diagnostics solutions providing companies, huge healthcare expenditure, and wide-scale incorporation of technologically innovative devices and instruments in healthcare settings for performing renal and liver transplant operations. As per the CDC, 19,355 people had kidney transplant operations in the U.S. in 2016.

Thus, it can be said with certainty that the demand for transplant diagnostics solutions will escalate all over the world in the years ahead, on account of the rising incidence of liver and kidney failure cases, mushrooming utilization of technological advanced instruments in healthcare settings, and improving healthcare infrastructure in many countries around the world.

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Tire Mold Market Trend, Growth Opportunities Created by COVID19 Outbreak

P&S Intelligence published a new research report, titled, “Tire Mold Market: Global Industry Analysis and Forecast till 2030, Tire molding is the process of shaping raw rubber structure into a functional tire of specified dimensions and properties. The process includes designated pressure for the green tire in a mold to give it final shape, and heat energy to stimulate the chemical reaction between the rubber and other materials. The global tire mold market is expected to witness considerable growth during the forecast period (2020–2030), on account of rise in automotive ownership pattern, industrialization, population growth, and urbanization.

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The tire mold market on the basis of product is classified into segmented molds, and two-piece molds. Between these, the two-piece mold category dominated the market during the historical period (2014–2019), owing to the ease of operation and lesser complexity. Whereas, the segmented mold category is projected to witness faster growth during the forecast period, owing to higher efficiency in curing and molding of green tires.

The burgeoning demand for tire molds is attributed to increasing global sales of automobiles and tire replacement rate in vehicles. Tires are also considered a necessity for a heavy and oversized object to be portable. The increase in portability of objects has driven a considerable demand for the tires and subsequently tire molds. Recent growth in transportation, logistics, and mobility sectors is another major push for the tire mold market.

Global Tire Mold Market Size Breakdown by Segment
Based on Product
Segmented Molds
Two-Piece Molds

Based on Application
Passenger Car Radial (PCR)Tires
Truck & Bus Radial (TBR)Tires
Off-The-Road (OTR)Tires

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Global SD-WAN Market Revolutionary Trends in Industry Statistics by 2023

SD-WAN refers to a technology that automatically distributes the network traffic across a wide area network (WAN) and thus provides efficient connection between branch offices and data center sites separated by large distances. Unlike conventional WAN, SD-WAN offers secure and reliable cloud-enabled WAN connections. Additionally, the SD-WAN technology has the ability to provide simple, secure, and affordable cloud-based solutions to the global enterprises, which further make it highly sought-after.

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The mushrooming demand for cost-effective network management is one of the major factors driving the growth of the SD-WAN market. The maintenance and management of traditional WAN is expensive, while configuring it manually is complex and time-consuming. Moreover, the recent times have witnessed a growing preference for mobile and cloud-based technologies, which is further increasing the complexity of the WAN. In order to overcome this problem, businesses are adopting SD-WAN solutions, which enable them to automate the WAN configuration and decrease the gross operational cost.

The surging need for network security and privacy across the world is another factor driving the SD-WAN market. Owing to the increasing usage of data and the rising threats to network security, the demand for SD-WAN solutions, on account of their ability to provide data security and privacy, is surging. Additionally, the capability of SD-WAN solutions to assist in the measurement and monitoring of network traffic, which allows the IT department to quickly detect a security breach, is another factor resulting in the high demand for them.

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Depending on appliance, the SD-WAN market is categorized into physical, virtual, and hybrid. Amongst these, the virtual category had the largest market share in 2017, and this category is also expected to hold the largest market share during the forecast period. The main reason behind this category’s market domination is the fact that virtual SD-WAN appliances don’t require hardware components, which reduces their installation and configuration costs. In addition to this, these appliances also allow remote maintenance.

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Revenue Explosion Predicted in Global Voice Assistant Market From 2020 to 2030

Valued at $1,723.6 million in 2019, the global voice assistant market is predicted to attain a valuation of $26,872.6 million in 2030. The market is also expected to advance at a CAGR of 29.7% from 2020 to 2030, according to the estimates of P&S Intelligence, a market research firm based in India. 

The main factors driving the progress of the market are the soaring requirement of contact centers and the increasing demand for higher customer experience across the world. In many contact centers around the world, voice assistant technology is being increasingly adopted for assisting customers and providing an enhanced customer experience. 

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This technology is basically based on the natural language processing (NLP) technology, that enables interaction between humans and systems and offers real-time query solving to the users. Voice assistants assist contact centers in data gathering regarding customer opinions, purchasing habits and patterns, and preferences. 

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This data is then analyzed with the help of this technology, which subsequently allows businesses to offer customized product recommendations and experience. Additionally, the integration of voice assistant technology in business operations improves the customer engagement levels, which, in turn, enhances the overall customer experience. The customers conducting voice searches expect quick and relevant solutions from the organizations. 

The voice assistant technology analyzes the received input and helps the customers in getting quick answers to their queries, which, in turn, improves the overall customer experience. Furthermore, many companies, across multiple verticals, are increasingly collaborating with various voice assistant solutions providing organizations for enhancing the customer engagement and satisfaction levels. 

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How is Rising Penetration of Internet Driving Medical Device Connectivity Market?

As the penetration of internet is increasing across the globe, almost all industries are taking advantage of internet of things for providing better services to their customers. Similarly, the adoption of connected medical devices in the healthcare industry is growing as well. The demand for improving the quality of care in medical settings is growing as well, since the number of patients is surging all across the globe. In addition to this, there is a pressing need for decreasing healthcare cost, due to which, the demand for enhanced services is increasing.

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Ascribed to these factors, the global medical device connectivity market is expected to advance at a substantial rate in the coming years. Medical device connectivity help in analyzing data, which is important in the healthcare industry due to the growing utilization of telehealth solutions. The demand for medical device connectivity services is predicted to rise significantly in the near future, owing to the growing need for maximum consumption of connectivity solutions by users, surging implementation of healthcare information exchange system, rising regulatory demand for healthcare reforms, and increasing requirement for effective implementation.

Medical device communication also saves time of organizations on lengthy repairs by providing information regarding when preventive maintenance measure need to be taken. Geographically, North America is expected to emerge as the fastest-growing medical device connectivity market in the coming years. This is because of the surging requirement for eHealth solutions, rising funding for advancements in the medical sector, better accessibility to technologies, and rising government focus on the quality of care in the region.

In conclusion, the demand for medical device connectivity is growing due to the need for remote patient monitoring and reducing the cost of healthcare.

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