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.

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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.

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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.

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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. 

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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. 

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Skin Replacements and Substitutes Industry Growth and Future Analysis

In 2023, the skin replacements and substitutes market brought in revenue totaling USD 1,178.2 million. With a projected compound annual growth rate (CAGR) of 7.0% from 2024 to 2030, it is anticipated to reach USD 1,869.2 million by 2030. This is mainly because of the increasing expenditure on appearance, growing populace, rising occurrence of burns and skin illnesses, and mounting life expectancy throughout the globe.

The growing burns occurrence is one of the sturdiest propellers in the industry. The WHO says that around 0.18 million individuals die of burns each year, while in India alone, more than 1 million individuals are affected by them.

The count of burn cases is lesser in high-income nations, while it is a key reason for disability-adjusted life years in low- and middle-income nations. Additionally, non-deadly burns are a key cause of illness. The mainstream of the cases is reported in homes and offices, among which most happen accidentally.

On the basis of product, the acellular category is projected to lead the skin replacements industry, with a revenue share of approximately 45% in 2030. An acellular skin replacement can be achieved in any demographic. It is suitable for the pediatric population, and it can be utilized in excised and insincere wounds.

Geographically, in 2023, the North American region will lead the industry, with approximately USD 0.6 billion in revenue, because of the growing expenditure on skincare, rising awareness of the appearance of advancing treatments obtainable, the growing pace of improvements in healthcare tech, and the existence of sophisticated medical facilities.

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Electric Bus Charging Station Market Will Propel at a 30.5% CAGR

The electric bus charging station market generated a value of USD 3,116.6 million in 2023, which will increase to USD 19,906.9 million, with a 30.5% compound annual growth rate, by 2030.

The growth is mainly because of the increasing disposition of electric buses to implement the international sustainable landscape coupled with an advanced method by governments. This is in line with their respective strategies to move to a hybrid and greener transport solution regarding electric bus infrastructure advancement and rising funding for the same.

Furthermore, electric bus charging systems usually function on an important scale steadying the grid by controlling the need for power. These systems are properly armed with rapid facilitation between plug-in EVs and power outlets, allowing safe & easy charging of automobile batteries.

In addition, because of this benefit, different electric and automotive component producers are collaborating to improve EV charging infrastructure to come in line with the surging need for electric vehicles.

The less than 50 kW category, based on power, was the highest revenue contributor to the industry in 2023, generating approximately USD 2 billion. This kind of charging location is commonly positioned in facilities where the buses are charged during extended layovers or overnight.

The depot charging category, based on type, led the electric bus charging station market. Depot charging plays an important part in the working as well as management of electric bus fleets. This approach commonly works with recharging electric buses while they are parked at bus terminals or depots.

The on-board category will advance at a higher CAGR of 35% during this decade. This is mainly because of the embedded charging tools, which make it simpler to fit charging panels on electric buses directly. This system comprises batteries, inverters, and chargers clubbed to bus design. 

Furthermore, the streamlined infrastructure employed in these charging devices assists in removing the requirement for external extensive time-consuming charging stations at depots along long routes.

APAC was the largest contributor to the industry. This can be mainly because of the large-scale advancement and acceptance of electric buses in India, South Korea, and China. In addition, the regional industry will further advance at the fastest compound annual growth rate, of 33%, in the years to come. 

Furthermore, North America is advancing at a steady compound annual growth rate. This can be mainly because of the governments’ advantageous incentives, tactics, and increasing environmental consciousness, which are boosting the funding in charging infrastructure in major cities.

With the increasing deployment of electric buses across the globe, the electric bus charging station industry will continuously grow in the coming years.

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