Why Will APAC Rule the IoT Microcontroller Market in the Forecast Period?

 The major drivers of the global IoT microcontroller market include the surging requirement for IoT in several sectors, increasing preferences for automation, and technological advances. In 2021, the market stood at $4,836.9 million and it is predicted to reach $13,898.0 million by 2030. It is projected to advance at a CAGR of 12.4% from 2021 to 2030. This can be due to the surging need for connected products, including gaming consoles, security systems, smartphones, televisions, household appliances, and tablets. 

The technological advances will pave the way to generate higher revenue in the IoT microcontroller market in the forecast period. Recognizable alterations have taken place in hospitals and clinics because of data analytics methods, wireless devices, and developments undertaken in computer-embedded technologies. Furthermore, by enabling the inspection of huge amounts of very complicated medical information, clinical research is being transformed by IoT technologies. Additionally, there is an increase in the geriatric population, which leads to a higher prevalence of chronic diseases. This drives the requirement for IoT-based patient monitoring devices.

IoT Microcontroller Market Revenue Estimation and Demand Forecast to 2030

During the outbreak of COVID-19, lockdowns were imposed across the world. Thus, corporations of several sectors followed the work from home culture resulting in a dire need for PCs, mobile phones, wearables, and IoT-enabled smart gadgets. Furthermore, all of this went in harmony with increasing collective awareness about wellbeing, fitness, and health. Also, health parameters, including the heart rate and oxygen levels, are easily monitored and tracked by wearables. This exerted a push on the demand for wearables. 

Within the product segment, the global IoT microcontroller market will be dominated by the 32-bit microcontroller category in the forecast period, accounting for the highest CAGR, of around 12%. This can be credited to the variant’s better functional abilities, extending assistance to small implanted medical devices, Industrial 4.0 processes, and the latest IoT applications. Moreover, this type of microcontroller is witnessing extensive use in industrial automation on account of its higher processing power, better performance, enhanced efficiency, user-friendly features, and economic aspects over other microcontrollers. Additionally, it can send real-time sensor information to an IP network.

Segmented by application, the smart home category will spur the IoT microcontroller market growth. The category is expected to grow at a CAGR of around 12% in the coming years. With greater adoption of technology, players can adapt to the current market dynamics and paradigm shifts in the tastes and preferences of consumers. A snowballing need for energy-efficient, secure, and safe processes is created by controlled applications of smart devices, which result in their rising demand. 

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Video Surveillance as a Service Market To Touch $13,584.3 Million by 2030

By 2030, the global video surveillance as a service market is predicted to touch $13,584.3 million, since being valued at $2,992.4 million in 2021. The market will grow at an 18.3% CAGR from 2021 to 2030 owing to the rising number of smart cameras and several accompanying sensors, which has resulted in an inclination toward in-band analytics. This combination of variables will augment growth in the market. For instance, there is extensive use of in-band analytics, smart cameras, and other techniques to facilitate operations.

Video Surveillance as a Service Market 2022-30

The enormous adoption of cloud-based services is creating lucrative opportunities for the video surveillance as a service market. The swift adoption of technology will help the market players to adapt to the shifts in the tastes and preferences of the consumers and the existing market dynamics. Thus, the rising availability of higher frequency bandwidths and various innovations made in cloud computing technology will drive the global market. Users in the surveillance industry are robustly using cloud-based services to cater to their requirements. There is an inherent benefit of swifter response, evidence tampering prevention, and enhanced reach.

North America rules the video surveillance as a service market, accounting for approximately 40% of the total revenue. This can be credited to extensive government support, rising threats of terrorism, and surging crime rates in the region. The most usual users of VSaaS are office spaces, restaurants, and hotels. There is an increasing installation of modern surveillance systems by the government in public spaces. In addition, it is also working to expand the usage of these services in the infrastructure and defense industries. 

Moreover, there is a consistent growth in the European industry because of extensive government support, greater deployment of technologically advanced devices in numerous sectors, coupled with a rising integration of cloud-enabled VSaaS. In addition, APAC will also not lag due to the rising preference for the smart city concept and greater concerns about safety among the citizens in the digitalized era. Thus, the market will boom in the coming years globally.

Hence, extensive government support and rising internet penetration will drive the market.

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Why Natural Disasters Are Driving Philippines Diesel Generator Market?

The Philippines diesel generator market was $152.9 million in 2021, and it is set to reach $245.2 million by 2030, growing at a CAGR of 5.4% through 2021−2030. The main reason for this is the developing industrial sector, which, in turn, is increasing the demand for electricity, and the frequent power outages. The market is also expected to grow with the growth in the urban population, which is leading to the mass-scale construction of commercial spaces, such as hotels, shopping malls, stadia, and transport hubs.

The Philippines diesel generator set market revenue is also snowballing at a faster pace because the government is trying to attract FDI. The country has established monetary zones to entice foreign companies and aid them set up production facilities. For example, the net FDI flow into the Philippines augmented by 96% year on year, to $1.1 billion in November 2021, in the sixth successive month of development among constant economic improvement.

Industrial gensets held over 40% Philippines DG set market share in the application segment in 2021 due to the ongoing industrial projects. For example, DMCI Holdings, in August 2021, publicized plans to invest $70 million in developing of two electricity plants. Of this, $54.8 million was for a thermal power plant project on Palawan Island, and the rest for a hybrid diesel–solar power plant in Cataingan, Masbate. Upon operation, there will be a reduction in the cost of energy, and the r production capacity of DMCI will go up to 164 MW.

There is also a strong need to develop the transportation infrastructure in the Philippines to decrease the traveling time. In January 2020, the Philippines’ Department of Transportation confirmed a joint venture with three Chinese firms for the expansion of the first package of the Philippine National Railways South Long-Haul project (PNR Bicol). The design, construction, and electromechanical works on the initial 380-km stretch from Banlic, Calamba to Daraga, Albay, are to cost $2.76 billion under this project.

Therefore, the market is growing in the Philippines because of the constant power outages and natural disasters hitting the country.

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Government Initiatives Drive Electric Vehicle Fast-Charging Infrastructure Market

In 2021, the size of the electric vehicle fast-charging infrastructure market stood at $3,240.7 million; it is expected to grow at a CAGR of 21.7% from 2021 to 2030 and hit the $18,909.8 million value by 2030. The environmental concerns are booming the demand for electric vehicles led by zero emissions to save the earth from global warming, greenhouse gas emission and climate change. Government initiatives to promote electric vehicles are also driving the market. 

Electric Vehicle Fast-Charging Infrastructure Market 2022-30

Under the application segment, the public fast chargers dominate the electric vehicle fast-charging infrastructure market, attributed to the mass installation of public fast chargers for electric vehicles. Numerous original equipment manufacturers and electric vehicle network manufacturers are installing fast chargers at various sites such as parking lots, fuel stations, government offices, and hospitality facilities. For example, the U.S. government announced an investment of around $7 billion by implementing the Bipartisan Infrastructure Law, intending to deploy 500,000 public chargers by 2030. 

The increased investments to facilitate the mass adoption of electric cars with the construction of appropriate infrastructure such as installing fast-chargers boost the market. The countries such as the U.S, China and Germany are making heavy investments in R&D to cater to the rising demand for fast and efficient electric vehicle charging. For instance, Ford is planning to make investments to increase the production of electric vehicles to reach the number of 600,000 units by 2023. 

APAC holds the most-significant electric vehicle fast-charging infrastructure market share, attributed to the rising trend for clean transportation, creating an opportunity for network operators to expand. Governments’ initiatives to promote electric vehicles through state regulations and announced investments for infrastructure development drive the market, leading to increased adoption of zero-emission automobiles. For instance, the installation of fast-charging stations is rising in Australia, facilitated by government initiatives to promote zero-emission transportation.

Therefore, the government initiatives to promote electric vehicles, attributed to the environmental concerns to control the greenhouse gas emission resulting in global warming, are driving the market.  

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Global Solid-State Battery Market Will Reach $3,915 Million by 2030

In the year 2030, the solid-state battery market will reach $3,915 million from $290 million in 2021, at a mammoth 33.5% CAGR in the coming years. The increasing acceptance of gadgets, the rising disposition of EVs, and the rising efficacy of battery managing and energy storing systems are the main factors pushing the industry. Furthermore, the market will be influenced by an increasing volume of robot shipments worldwide. Furthermore, the increasing R&D actions related to solid-state batteries, rising disposition of IoT, and contraction of electronic devices have appeared as the foremost driving forces.

Thin-film batteries had the majority of the share of the solid-state battery market in the recent past, and they are all set to propel at a healthy growth rate to touch $3,486 million by the year 2030. These variations are normally put in fitness bands and smartwatches, because of their smaller size, effective revitalization rate, higher output voltage, lesser weight, advanced energy concentration, higher elasticity, lower possibilities of electrolyte leak, extended shelf life, tighter packing, shortened structure.

In the year 2021, APAC accounted for the largest share in the solid-state battery market, of about 50%, and this will continue in the near future as well. Progressions in the renewable energy sector, a large customer base for movable electronics, and progress in the use of battery management systems are the aspects instigating the sales of these batteries. Furthermore, public establishments in India and China aim to decrease the carbon emission of vehicles and improve the usage of electric vehicles.

Solid-state batteries are advanced to deliver higher energy concentrations, which will advance their proficiencies, therefore resulting in increased sales. For example, in September 2021, scholars from University of California, San Diego, advanced a new battery blending a solid-state electrolyte along with an all-silicon anode, giving improved energy density. Silicon anodes have tenfold higher energy concentration as compared to graphite anodes, usually used in lithium-ion batteries. Also, for uses like grid storage and electric vehicles, these batteries are harmless and enduring.

The demand for solid-state batteries is increasing with the increasing acceptance of electric vehicles.

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How Will the Rising Number of Residential and Commercial Projects Boost the New Zealand Ventilation Products Market?

 In 2021, the New Zealand ventilation products market was valued at $113.8 million and is projected to touch $183.2 million in 2030. The market is predicted to grow at a 5.4% CAGR from 2021 to 2030 owing to the growing count of commercial and residential projects, rising inclination toward decentralized ventilation, increasing awareness about the environment and health. By removing odor, these products develop a sustainable atmosphere. Furthermore, as inhalation of harmful pollutants and chemicals can adversely affect health, there will be a surge in the need for such solutions in the forecast period.

New Zealand Ventilation Products Market Insight Forecast Through 2030

The rapid adoption of technological advancements will drive the New Zealand ventilation products market. This can be ascribed to the consistent efforts of producers who have developed ventilation products that provide protection against pollutants, viruses, and bacteria amid the spread of the pandemic. There is a paradigm shift among the companies for an amplified filtration ability. This assists in curbing the accumulation of pollutants and germs in the vicinity. However, this has the disadvantage of causing a high drop in pressure within spaces.  Other technological innovations include active neutralization measures and smart sensing technology.

Get More Insights: New Zealand Ventilation Products Market Revenue Estimation and Growth Forecast Report

The energy-efficient ventilation systems will spur the New Zealand ventilation products market growth. In an attempt to meet the global sustainability standards by curbing the level of pollution, there is a strong inclination toward energy-efficient ventilation systems. This has made people more aware of indoor air quality amid high-volume carbon emissions. These products lower the carbon-dioxide concentration and have an enhanced ability for ventilation. This makes it appropriate for a numerous people, thereby reducing the spread of communicable diseases. Moreover, lowering the waste heat emissions would enhance energy efficiency. 

The residential area accounted for more than 80% of the total revenue share and dominated the 2021 New Zealand ventilation products market. This can be credited to surging healthcare concerns, especially after the outbreak of COVID-19. People have become increasingly aware of deteriorating health conditions like the risk of spreading transmittable diseases. Since the accumulation of germs, viruses, and pollutants can be significantly reduced with the help of ventilation products, there will be skyrocketing requirements for these products in residential sector. 

The commercial sector will generate a large revenue in the New Zealand ventilation products market and is projected to advance at a 4.0% CAGR in the coming years, as per volume. This is because of the developing hospitality sector and increasing the count of commercial buildings and offices. In addition, tourism is booming in this country which further is a reason for improved infrastructure such as hotels, hospitals, and airports, coupled with an influx of high investment in the tourism sector. For instance, the count of travelers was about 5000 in New Zealand in January 2021 and it skyrocketed to approximately 8400 within a year.

Hence, the increasing commercial and residential projects, coupled with growing environmental awareness will increase the demand for ventilation products.

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Why Will Luxury Category Generate a Higher Revenue in Saudi Arabia Fragrance Market?

 In 2021, the global Saudi Arabia fragrance market stood at $2,049.7 million, and it is projected to touch $3,500.9 million by 2030. The market is predicted to advance at a 6.1% CAGR from 2021 to 2030 owing to the increasing prominence of grooming and personal hygiene and the surging count of gym users. The most prominent market in the Middle East for fragrance and cosmetic products in Saudi Arabia. An ample amount of money is spent on personal hygiene and appearance by the Saudi Arabian consumers which assist in market growth.

Saudi Arabia Fragrance Market Analysis and Growth Forecast, 2030

The outbreak of COVID-19 disrupted the beauty and personal care industry, wherein the fragrances sector was adversely affected especially amid the lockdown. It witnessed negative growth and a consequent fall in the product demand on contrary to the 10% annual growth rate. Nonetheless, the Saudi Arabia fragrance market will recover at a swift growth rate in the e-commerce platforms owing to surging awareness of fragrance products amongst the consumers via rapid internet connectivity. Saudi Arabia, being home to the largest number of active social media users, assists the key players in marketing and promotion.

Browse detailed - Saudi Arabia Fragrance Market Revenue Estimation and Growth Forecast Report

Within the category segment, the Saudi Arabia fragrance market can be bifurcated into the mass category and luxury category. The luxury products generated higher revenue in the market in 2021, accounting for about 80% of the total market revenue. Because of the country’s intense banking and financial and oil & gas sectors, coupled with a rising disposable income and subsequently surging consumer purchasing power, Saudi Arabia is heralded as one of the fastest expanding world economies. In addition, there is a growth in the young population which will skyrocket the demand for these products.

There is extensive use of fragrance products among women because they consider this as an essential part of their personality. One of the most appealing and prolific individual care accessories among women is fragrance. This fragrance can either be a strong one, or a mild one depending on the tastes and preferences of a consumer.  There are ample fragrances in the market for various places such as home, work, or a party.

An important constituent of human grooming rituals in this country is perfume: a sign of aromatic scent. There has been a considerable rise in the number of international perfume corporations setting up their functioning production plants here in the Saudi Arabia fragrance market. They are offering their products to the local inhabitants by blending the conventional oriental components in their scents and adding a texture of contemporary fragrances. Perfumes are a representation of the users’ style, persona, and uniqueness. Hence, with a paradigm shift toward Western fragrances, many brands are setting-up shops in this country.

Greater adoption of technological advancements in the Saudi Arabia fragrance market will drive the product demand in personal care and cosmetic products., including body and hair oils, body lotions, shaving creams, shower gels, and shampoos. Furthermore, an inclination of consumer preferences toward wellbeing and health has opened the closed doors for this industry by creating lucrative opportunities for consumers. Moreover, to cater to the requirements of target consumers, the majority of the market players are upgrading their products by infusing organic and pleasant fragrant ingredients. This will augment growth in the market.

Hence, the rising importance of grooming and personal hygiene and greater adoption of technical advances to adapt to the shifting market dynamics will drive the market.

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