Tokenization Market To Propel at a Mammoth Growth rate of Above 19% by 2030

 The tokenization market had a value of about $2,591 million in 2021, and it will propel at a massive CAGR of above 19% in the years to come to reach over $12,684 million by 2030. The growth of the industry is chiefly credited to the increasing financial frauds and the growing requirement to protect payment gateways. Meeting safety standards to avert a data breach, although safeguarding the customer experience will also drive market growth in the future.

The BFSI industry is the leader in the tokenization market.  It will generate around $5 billion in 2030, because of the rise in seamless digital payments, while guaranteeing safe transactions. The banks are rushed to address the challenge of monetary fraud while confirming customer satisfaction. Tokenization reports this challenge and its executions help banks propose varied payment offerings and allow their clienteles to make protected transactions, therefore opening value for the banks.

Tokenization Industry Growth Forecast to 2030

The cloud will record faster progress in the tokenization market, advancing at a growth rate of about 20%, by the end of this decade. This mode of deployment is extremely helpful, as merchants are not required to build safe payment infra with privileged info like passwords, credit card detail, usernames, and others. 

Cloud-based tokenization lets the exchange of sensitive info with UID symbols, which are permanent placeholders called tokens while safeguarding sensitive info outside the internal system. This decreases the difficulty of compliance and reduces merchants’ risk to update and guard the customers’ sensitive info.

The PCI DDS requires administrations, which accept, transfer, and stock the data of any cardholder, to confirm that data is suitably protected. This requires vendors to receive payment through credit cards and to follow the regulations.

Furthermore, protected networks must be preserved and frequently updated on the database of the sellers. Also, merchants are mandated to report separate systems that stock and process credit card info to ensure they are ensuing PCI DSS necessities.

North America is the leader in the tokenization market. The regional market will generate a revenue of more than $6 billion in 2030, registering a growth rate of approximately 20% by the end of this decade. Some key factors fueling the growth of the market are increasing cases of data breaches, payment security apprehensions, and growing payment regulatory agreements in the region. According to a report, around 850,000 cybercrime cases were informed in 2021, with a growth of 7% from 2020 and a possible loss of around $7 billion. The increasing number of cyber fraud and data theft cases has led to the augmented acceptance of tokenization by large companies and also SMEs to augment security and fight against future attacks.

The tokenization market is consolidated, with few players controlling the major share. Recently, they are involved in collaborations and partnerships, to beat all the competition. For example, American Express joined hands with Goldman Sachs in October 2021, to offer a cohesive cloud-based digital payment system for business clients. It bids support for manifold payment options, data, and analytics, in a single unified platform.

The increasing demand for tokenization solutions is because of 5he rising cases of financial fraud, and an increasing requirement to find a secure payment gateway.

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Miniaturization of Electronic Devices Drives Photonic Integrated Circuit Market

 The market is being driven by the significant demand for such components from the telecommunications, medicinal, and data center facilities, as well as the growing popularity of autonomous cars, rapid automation in a variety of industries, and downsizing of electronic equipment. The photonic integrated circuit market is set to hit $41,037.7 million value by 2030.

Moreover, silica-on-silicon has second-largest share in the market. This is because photonic integrated circuits built of this material are inexpensive to install and run. Additionally, because such components are so simple to incorporate into electrical devices, there is a huge market opportunity for companies that provide the silica-on-silicon platform.

Photonic Integrated Circuit Market Size and Share Analysis Growth Forecast to 2030

Additionally, the need for high speed, low cost, broad bandwidth, and high energy efficiency data flow is driven by the fast-growing traffic on telecommunications networks, growing need for data centers, and expanding usage of high-performance computers. As a result, the photonic integrated circuit market demand for this raw material is increased by the incorporation of photonics for ultra-fast data transmission into electronics.  

With a CAGR of 20.9% in the upcoming years, the application segment's data centers category is anticipated to increase at the fastest rate. This is because of the introduction of 5G mobile networks, video streaming, and cloud connectivity services, which have been propelling the vast global construction of data centers.

Monolithic has a bigger share in the photonic integrated circuit market, based on the integration method. This is because photonic ICs are integrated using a single material in a range of both passive and active optical devices, eliminating the problems associated with adapting between different materials.

Furthermore, the commercialization of this method and the implementation of several monolithic photonics platforms in improved CMOS technologies for next-generation integrated systems are predicted to grow the potential for monolithic integration.

One of the main photonic integrated circuit market drivers is the rapid improvements in photonics IC technology as well as the numerous integration techniques. For example, in October 2021, scientists at the Hong Kong University of Science and Technology developed a monolithic InP on a silicon-on-insulator (SOI) substrate that would pave the way for completely integrated Si-based photonic integrated circuits.

Due to the widespread use of WAN solutions for fiber-optic communications and data centers, North America holds the biggest share in the photonic integrated circuit market. Additionally, the increased adoption of IoT and the growing need for high-speed data transfer add to the strain on cloud computing networks, which has led to the possible development of a burgeoning photonic integrated circuit industry.

Moreover, companies have begun to turn toward integrated circuits as a result of the rise in data creation, consumption, and bandwidth needs. These components offer increased bandwidth and efficiency by using light and photons rather than electricity and electrons; as a result, they may be a crucial component of many upcoming applications. Numerous cutting-edge technologies, including quantum computing, are supported by PICs.

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What Role Does IT Play in Micromobility Industry?

 The entire concept of micromobility is enabled by IT technologies, including mobile phones, mobile and desktop apps, digital payment platforms and telematics solutions. Micromobility involves sharing two-wheelers (gasoline/petrol and electric) for short-distance transportation, with the bookings and payments being almost exclusively facilitated by mobile apps and websites of the service provider.

How IT Facilitates Micromobility Ride Booking?

To book a ride, the user needs to either download the service provider’s mobile app or visit its website. There, you enter all the trip details, including the destination and origin, the vehicle type (bicycles, kick scooters, and scooters) and preferred journey time and then, make the payment. Following this, you get the pickup spot on the mobile app or your account on the service provider’s website for both station-based and dockless micromobility systems and a code to unlock the vehicle. Then, you reach the spot, put in the code into the vehicle’s dial pad, and you are ready to ride!

What Benefits IT Provides to Micromobility Service Providers?

While IT technologies allow people to book and pay for the rides, they enable a whole lot more for the service providers. When it comes to micromobility companies, the digital technologies available to them are grouped under ‘telematics’. By studying the data fed to the central company system from the small computer onboard the vehicle, service providers can take a stock of their fleet utilization, including the number of vehicles in use at a time, the most-popular routes and journey times, and average kilometers/miles ridden per day, week, or month.

Such a usage analysis further allows companies to know the best times for the utilization of their services, so that trip fares can be elevated or reduced accordingly. During periods of low utilization, companies may want to substantially reduce the fares or provide an offer to lure customers. Similarly, during times when the demand for the services is high, companies could employ dynamic pricing (the higher the demand, the higher the rates).

The telematics solutions also pair users’ smartphone app with the onboard computer, ensuring that only the particular vehicle the user has received the unlock code for can be unlocked using it. Moreover, companies can see the charge remaining in the battery or fuel in the tank, to know when it is time to recharge or take the vehicle to a petrol pump (gas station). Similarly, the health of onboard systems, such as the motor or engine, tire pressure, the computer, GPS/telecommunications module, ADAS, headlights and taillights, battery management system, and AC–DC/DC–DC converter can be monitored, thus allowing for predictive maintenance.

Moreover, the GPS allows companies to track the location of the two-wheeler in case it goes missing or breaks down or if the user presses the panic button, thus prompting a search & rescue operation by the service provider or the authorities. Advanced telematics systems might also offer vehicle-to-pedestrian, vehicle-to-vehicle and vehicle-to-infrastructure connectivity, thus making the journey more enjoyable for the rider and fleet management easier for the service provider.

Get More details Micromobility Market Business Opportunities 

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How Does Rise in Geriatric Population Impacts Medical Device Coating Sales?

In 2021, the medical device coating market companies made $7,861.4 million, and it is expected to rise to $15,165.9 million in 2030, advancing at a rate of 7.6% from 2021 to 2030, attributed to the growing awareness of minimally invasive devices. In addition, the increase in the incidences of healthcare-associated infections, including ventilator-associated pneumonia, and catheter-associated urinary tract infections propel the demand for medical device manufacturers to coat anti-microbial agents on their products.

In addition, the rise in the geriatric population, coupled with the surge in healthcare-related challenges has boosted the medical device coating industry with the rise in the implants’ demand. Furthermore, the increase in the requirement for early detection of diseases is projected to expand the demand for medical devices, which, in turn, will drive the growth of the industry in the near future.

The primary medical device coating market trends are urology, cardiovascular catheters, and hydrophilic lubricious coatings. In addition, the rise in awareness of novel surgeries and the increasing requirement for improved healthcare facilities are projected to create opportunities for market players in the coming future.

North America is the largest contributor to the sales of medical device coatings, and it is projected to capture sales worth $5,408.5 million in 2030, ascribed to the increased improvements in the technologies of medical devices, coupled with their ease of access booms the demand. In addition, the presence of healthcare facilities in large numbers and the surge in the R&D investments in healthcare propel the industry in the industry.

Therefore, the rise in the elderly population with increased demand for implants proliferates the medical device coating industry.

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How Does Increase in Demand for Consumer Home Appliances Contribute to a High Rise in Stabilizers Sales in India?

In 2021, the Indian stabilizers market generated $676.2 million, and it is projected to contribute $1,359.8 million in 2030, progressing at an 8.1% rate from 2021 to 2030, ascribed to rising government focus on smart city development projects and major investments under Invest India initiatives and make in India. Moreover, the increase in the electrical appliances sales such as refrigerators, televisions, and ACs boost the stabilizers industry. 

Servo-controlled stabilizers are projected to experience the highest sales in the coming years, accounting for 8%, ascribed to the increasing consumer awareness of appliance rating structures, and the benefits of products with a higher rating. Along with this, the higher reliability, improved correction speed, and durability boost the demand od servo-controlled stabilizer in the industry. 

The rise in the demand for consumer home appliances such as refrigerators, ACs, and TVs has been witnessed after the 2020 pandemic, as a large number of people kept working from their homes, resulting in a massive rise in average ticket sales of comfort home products. For example, the demand for split ACs in towns and tier-II cities is 12% higher compared to tier-I cities. Moreover, the premium products such as high-capacity refrigerators, large-sized smart televisions, smart washing machines, and other IoT and AI-enabled products are penetrating the smaller tier-II cities.

Uttar Pradesh is projected to showcase the fastest growth in the stabilizer industry of the country, progressing at a rate of 9% in the coming years, ascribed to a rise in the state’s electricity connections, specifically in rural areas where power supply keeps fluctuating.

In addition, Tamil Nadu captures the extensive revenue share generated by the sales of stabilizers in the country, ascribed to increased penetration of local manufacturers, rising incidence of electricity fluctuations, wide population, and large numbers of residential and commercial spaces.

Therefore, the rise in the sales of the mainline stabilizers and increased demand for electric appliances for home comfort in tier-II cities caused by mass adoption or remote work post-COVID-19 boost the industry.

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Increasing Geriatric Population Needing More and More Orthopedic Biomaterials

The orthopedic biomaterials market had a value of above $14 billion in 2021, and it will advance at a growth rate of about 10% in the coming years, to reach above $32 billion by 2030. The reconstructive joint replacements had the largest demand in 2021, with revenue of above $4 billion, and it would grow at a significant growth rate of above 9%, in the future. This is for the reason that the occurrence of severe damage and late-stage osteoarthritis is quickly increasing.

The hospitals had the largest demand of approximately, 42%. In many nations, hospital admissions and patients visiting for orthopedic procedures have significantly increased over the past twenty-thirty years. Patients generally like to be treated at hospitals since contemporary therapeutic approaches are available here.

The rise in musculoskeletal problems will boost the growth of the orthopedic biomaterials market. Musculoskeletal ailments are the main causes of disability worldwide, according to research, with these disabilities upsetting 20-30% of people. Fractures, inflammation, and pain in the joints, ligaments, and tendons are the prevalent musculoskeletal issues resulting in constrained mobility.

North America has the highest demand for orthopedics biomaterials and will grow at a significant rate in the coming years. This is due to the increase in the volume of patients experiencing knee reconstruction and replacement and other treatments.

APAC will grow at the fastest rate of 10%, in the near future. The growing number of cases of musculoskeletal ailments, like bone degenerative illnesses, in evolving nations is one of the important reasons helping the regional industry to grow. Furthermore, the surging healthcare spending, along with the developments in the healthcare infra will have a positive impact on the demand for orthopedic biomaterials in this region.

The increasing geriatric population and the increasing cases of people having musculoskeletal conditions have a positive impact on the demand for orthopedic biomaterials.

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Why Does Flexible Foam Category Hold Largest Share in Bio-Based Polyurethane Market

Since they have a smaller negative impact on the environment, are less expensive, are readily accessible, and degrade over time, bio-based polyurethane coatings have begun replacing petrochemical-based coatings in large quantities. The global bio-based polyurethane market accounted for $34.8 million in 2021, which is predicted to hit a $63.3 million value by 2030. This is owing to the various applications of this polymer, including footwear, biomedical, packaging, and transportation.

Furthermore, synthetic polyurethane compounds are toxic and non-biodegradable. They also use petrochemical-based raw resources, which are already running out, driving up the price of polyurethane manufacture. The bio-based version's excellent compressive strength, bending strength, tensile strength, and water absorption makes it superior to polyurethanes made from petroleum.

The flexible foam category maintained the biggest share in the bio-based polyurethane market, followed by rigid foam and coatings, sealants, and adhesives. Bio-based polyurethane foam that is flexible is strong, supporting, lightweight, and comfortable. A wide range of consumer and business products, including carpet underlay, mattresses, vehicle interiors, chairs, furniture, packaging, and specialty items, employ the material as cushioning. The fact that this material can be extremely stiff, soft, or even viscoelastic accounts for its popularity.

The packaging is expected to grow at a 9% CAGR in the bio-based polyurethane market. One-component polyurethane adhesives are widely used in printed films, snack food bags, and shopping bags. In addition, polyvinyl chloride is attached to aluminum sheets for medical applications using a customized two-component polyurethane adhesive. Furthermore, due to its low viscosity and low application temperature, hot-melt polyurethane is ideally suited for wrapping applications.

Buildings that are environmentally friendly and cost-effective to operate are gaining popularity. The World Green Building Council, central organizations like the Ministry of Skill Development & Entrepreneurship, the SIDBI, and the GSA in the U.S., as well as state governments and municipal bodies internationally, have all recognized and rewarded green buildings.

Due to their high strength, bio-based polyurethanes are utilized in a variety of applications, including roofing, window and door profiles, pipes and gutters, glazing, cement, insulation, hardwood flooring, sealants & adhesives, heavy-duty rubber flooring, and parquet gluing. Due to their capacity to have high green strength, bond wet/frozen timber, and shear strength, they are also commonly used for ceramic tiles, bathtub surrounds, concrete, and mirrors.

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