Unmanned Underwater Vehicles Market To Boom During 2021–2030

The surging defense expenditure of countries and burgeoning demand for seafloor mapping data will drive the unmanned underwater vehicles market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $4,104.2 million in 2020. Moreover, the rising advancements in underwater inspection techniques and soaring demand for maritime security will facilitate the market growth in the foreseeable future. Currently, the market players are undertaking several creative approaches to augment the effectiveness of UUVs.

Unmanned Underwater Vehicles Market Outlook

The mounting defense expenditure is one of the primary growth drivers for the market. UUVs play an important role in naval warfare as they provide significant clandestine and standoff capabilities and can intelligently adapt to the changes in tactical situations. The onboard systems of UUVs can adapt to the mission plan and identify changes without requiring human assistance. Owing to the benefits offered by UUVs, the navy and other departments of defense of various countries are partnering with private companies to conduct research and development (R&D) for developing next-generation UUVs.

At present, the UUVs market is consolidated in nature, with the presence of few players such as Teledyne Technologies Inc., Lockheed Martin Corporation, Subsea 7 S.A., Saab AB, Oceanserver Technology Inc., Kongsberg Gruppen, Oceaneering International Inc., The Boeing Company, and Fugro. These market players are entering into partnerships to gain a competitive edge. For instance, in December 2019, Saab AB won a contract from the Swedish Defence Materiel Administration (FMV) for the development of a new self-propelled naval mine, which is based on autonomous underwater vehicle technology.

Thus, the growing defense budgets and escalating focus on maritime security will support the market growth during the forecast period.

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Rising Popularity of BYOD Culture Driving Enterprise Mobility Management Solutions Demand

Businesses across the world are implementing the bring-your-own-device (BYOD) policy to enhance the productivity and efficiency of employees. The implementation of this policy also caters to the surging employee demand for mobility within the workplace. The BYOD policy allows employees to bring their own devices, such as laptops, smartphones, and tablets, to the workplace and integrate enterprise mobility management (EMM) solutions on them to easily access data. 

Thus, the surging penetration of BOYD culture, owing to the low cost of smartphones, will augment the need for EMM solutions and services in the forthcoming years. Moreover, the rising internet and smartphone penetration in developing countries will also steer the enterprise mobility management market growth during 2021–2030. According to P&S Intelligence, the market revenue reached $16 billion in 2020. 

Additionally, the surging advancements being made in technologies, such as artificial intelligence (AI) and the internet of things (IoT), will also amplify the usage of EMM solutions and services in the foreseeable years. EMM solutions can update, control, and wipe the data of devices from a distance, thereby, providing a sense of flexibility to users.

At present, businesses have the option to choose from mobile device management (MDM), mobile application management (MAM), mobile content management (MCM), mobile expense management (MEM), and identity and access management (IAM) solutions to maintain and manage mobile and handheld devices used within the organization for routine business operations. These EMM solutions are primarily used for securing corporate data from all handheld and mobile devices used in business processes. 

In addition to these solutions, organizations are also creating a huge requirement for managed and professional EMM services to enhance their operations.

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Automotive Ethernet Market To Generate $9,885.1 Million Revenue by 2030

The surging use of advanced driver-assistance systems (ADAS) and smart infotainment systems in automobiles and plunging cost of the ethernet technology are expected to drive the automotive ethernet market at a CAGR of 19.4% during the forecast period (2021–2030). Moreover, the soaring investments in the connected car field will aid the market revenue in rising from $1,932.7 million in 2020 to $9,885.1 million by 2030. In recent years, the increasing adoption of autonomous vehicles and connected features in conventional vehicles has become a prominent market trend.

The rising integration of safety and security systems is one of the key growth drivers for the market. Human errors, such as failure to pay attention, inappropriate speed, and inadequate distance from the vehicle in front, are responsible for most road accidents. To mitigate road accident cases, governments of various countries have issued numerous regulations regarding the integration of safety systems in automobiles. As a result of these regulations, automakers are installing connected safety and security solutions in their offerings, thereby creating a high requirement for internet connectivity.

Globally, the Asia-Pacific (APAC) automotive ethernet market is expected to display the fastest growth during the forecast period due to the rising technological developments, surging number of favorable regulations, and prospering economy of regional countries. Besides, the surging number of automobile manufacturing units in APAC will facilitate the market growth. Moreover, the burgeoning demand for automobiles in India and China, owing to the growing population and its mounting disposable income, will augment the demand for automotive ethernet solutions in the region in the forecast years.

Thus, the booming demand for ADAS and connected features will fuel the market growth in the years to come.

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Microfluidic Devices Market to Witness 23.0% CAGR in Coming Years

 The demand for point of care testing (POCT) is increasing across the globe because of the growing aging population, rising prevalence of chronic diseases, and lifestyle changes. POCT is the performance of a test nearby to the site of the patient care for providing immediate results outside the traditional laboratory environment. In addition to this, diagnostic companies, such as Alere, Abaxis, and Cepheid, have started recognizing the potential of quick molecular diagnostic testing, which why they have launched various point of care products that are based on microfluidic technology in the past few years. This, in turn, is expected to drive the requirement for microfluidic devices. 

There are several applications of microfluidic devices, namely clinical & veterinary diagnostics, analytical devices, environmental & industrial, pharmaceutical & life science research, point of care diagnostics, drug delivery, and others. Out of these, the largest demand for microfluidic devices is predicted to be created for the pharmaceutical & life science research application in the near future. In pharmaceuticals microfluidic devices are utilized for sample preparation and separation, combinational synthesis, preclinical testing of drugs in living cells, and array formation. Microfluidic devices have several advantages, such as reduced reagent consumption, shortened reaction times, and enhanced data quality, which is why they are increasingly being utilized in pharmaceutical and life science applications. 

The utilization of microfluidic technologies for the miniaturization of chip is also leading to the rising adoption of microfluidic devices. The process of integrating laboratory protocols into miniaturized devices, known as lab on chip, includes various steps such as pre-treatment, separation, mixing, reaction, and pre-concentration. This further help in reducing the cost and consumption of reagent, which is also helpful in several medical diagnosis with the help of blood drop. Apart from reducing the overall cost of screening the compounds for cell biology problems, the miniaturization technique also aids in decreasing the analysis time and carrying parallel assay in microfluidic devices.   

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Rising Oral Health Awareness Fueling Dental Implants and Prostheses Demand

According to the World Health Organization (WHO), oral diseases affect around 3.5 billion people globally. The organization estimates that over 530 million children suffer from dental caries of primary teeth and around 2.3 billion adults suffer from caries of permanent teeth. Additionally, oral diseases are also related to numerous risk factors that are common for chronic illnesses such as cancer, diabetes, chronic respiratory diseases, and cardiovascular diseases (CVDs). Thus, the surging prevalence of oral diseases is creating a huge requirement for dental implants and prostheses, as severe periodontal diseases result in tooth loss.

Moreover, the increasing awareness about oral care, owing to the rising incidence of tooth decay, tooth erosion, periodontal diseases, and tooth sensitivity problems, and soaring popularity of cosmetic dentistry procedures will also fuel the dental implants and prostheses market at a CAGR of 6.1% during 2018–2023. The market revenue stood at $7.2 billion in 2017 and it is expected to reach $10.3 billion by 2023. For instance, the as per the American Dental Association (ADA), 85% of the U.S. population believes that oral health is extremely important to their overall health. 

Besides, the rising consumption of sugar, tobacco, and alcohol will also augment the use of metal, polymeric, and ceramic dental implants, dentures, abutments, and bridges and crowns, as excessive consumption of such products lead to dental caries, periodontal diseases, and oral cancers. Additionally, the surging demand for plate form and root form dental implant procedures can be attributed to the fact that most oral problems are preventable and can be treated in their initial stages. 

In addition, the flourishing dental tourism industry, especially in emerging economies, and increasing research on mini dental implants will fuel the use of dental implants and prostheses in the forthcoming years. Nowadays, dental tourism is gaining momentum in developing countries due to the high healthcare costs in developed nations. Moreover, the escalating focus on developing mini dental implants, owing to their benefits such as lower price, lesser placement time, lesser invasive nature, and smaller size as compared to conventional dental implants, will also encourage the use of such products in the coming years.

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Electronic Shelf Label Systems Delivering Precision In Retail Stores

Technological advancements in the retail sector aim to enhance the customer shopping experience. The rising complexities in managing large retail stores are encouraging the stakeholders in the retail industry to focus on automation in this sector. As part of the automation process, retail stores across the world are increasingly adopting electronic shelf label systems for delivering precision and flexibility in operations of physical stores. 

To automate their operations, retail stores are currently opting for full-graphic e-paper, liquid crystal displays (LCDs), and segmented e-paper. Moreover, the increasing need for enhanced functional efficiency in inventory and warehouse management and physical management will also support the electronic shelf label market growth during 2021–2030. 

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According to P&S Intelligence, the market was valued at $782 million in 2020. Improved efficiency in warehouse and store management has eased the work of retailers. Owing to the ease of operation offered by electronic shelf label systems, these automated systems have become useful in scheduling service operations and product deliveries and displaying product information.

In recent years, electronic shelf label system manufacturing companies have been focusing on the development of near-field communication (NFC) technology-based systems. The integration of NFC technology in these electronic label systems enables retailers to update information, such as cost, discounts, special offers, and other product details, by using NFC-enabled smartphones. 

Thus, the deployment of NFC-based systems in supermarkets, hypermarkets, specialty stores, and non-food retail stores helps retailers in price optimization, fast and contactless data transfer between different devices, and efficient stock management.

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Supportive Government Initiatives Driving Electric Off-Highway Vehicles Market Growth

Due to the implementation of strict emission norms by the governments of several countries, the demand for eco-friendly vehicles has increased massively. This is driving the expansion of the global electric off-highway vehicles market. As a result, the market generated a revenue of $6,399.5 million in 2020. Moreover, with the enactment of these regulations, many automotive manufacturing companies are shifting their focus from internal combustion engine-powered vehicles toward automobiles having alternative powertrains.

Electric Off-Highway Vehicles Market Outlook

Additionally, the surging requirement for emission-free and low-noise construction machines, especially in residential areas, is also fueling the growth of the electric off-highway vehicles market. Due to these factors, the electrification of off-highway vehicles, including those used in the construction industry, is rising rapidly. This is because of the fact that the necessary technologies are rapidly becoming affordable and mature. For example, AB Volvo is providing a range of electric compact equipment such as L25 electric compact wheel loader and ECR25 electric compact excavator. 

Across the globe, North America is predicted to hold the largest share in the electric off-highway vehicles market till 2030. This is attributed to the implementation of environmental protection initiatives for controlling the carbon footprint and reducing the emissions generated from the construction industry in the region. For example, 15 states and the District of Columbia have aimed to have 100% of all new heavy- and medium-duty vehicle sales to be of emission-free variants by 2050. Further, the rising demand for electric mining dump trucks, electric tractors, electric lawnmowers, electric loaders, electric excavators, and electric dozers is massively augmenting the sales of electric off-highway vehicles in the region.

Hence, it can be said without any hesitation that the demand for electric off-highway vehicles will explode in the coming years, primarily because of the growing adoption of electric vehicles, on account of the surging air pollution levels and enactment of favorable government initiatives, and increasing construction and infrastructural development activities in several countries. 

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