News Market Insights

Factors such as the toughening government regulations on water treatment, expanding chemical industry, and increasing oil and gas production are expected to fuel the metering pump market at a CAGR of 3.9% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will grow from $4.4 billion in 2019 to $6.8 billion by 2030. In recent years, the soaring demand for energy-efficient metering pumps, to reduce energy wastage, has become a major market trend. One of the key growth drivers of the market is the increasing implementation of strict water treatment laws in many countries. Water treatment plants use metering pumps to feed chemical additives to the wastewater to remove toxic microorganisms, slurry, and pollutants, thereby improving the water quality.   At present, the metering pump market is consolidated in nature due to the presence of few players, such as Spirax-Sarco Engineering plc, MCFARLAND PUMPS, Dover Corporation, SEEPEX GmbH, Verder In...

The advent of the internet of things (IoT) and machine to machine (M2M) technologies will also help the optical networking and communication market progress at a CAGR of 6.2% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $16.9 billion in 2019, and it will generate $32.8 billion revenue by 2030. Largescale adoption of these technologies in connected devices and data-intensive applications requires a robust network capacity, which can be achieved through the deployment of optical networking and communication components. In the coming years, telecommunication firms will emerge as the largest user of such components due to the rising internet and smartphone penetration and increasing use of social media platforms. Multimode and single-mode optical fibers, optical filters, optical amplifiers, optical aggregators, optical circulators, optical switches, optical splitters, and optical transceivers used in the commercial, cloud and data cent...

Factors such as the increasing use of the computer-aided design (CAD) software in the packaging sector and the surging production of quality components and products in the automotive industry are expected to drive the U.S. CAD software market at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $2,458.6 million in 2020, and it will generate $4,271.5 million revenue by 2030. As vehicle owners are generating an extensive demand for quality parts, automakers are using advanced CAD-enabled tools for product designing and development. The increasing use of the CAD software in the packaging sector is one of the primary growth drivers for the market. Packaging machinery is used for product filling, labeling, wrapping, and strapping. Over the years, packaging machines have become more complex, owing to which designers and engineers are increasingly adopting the CAD software to meet the mechatronic engineering challenges, as it allows unconventional mo...

With the increasing prevalence of chronic diseases and the surging population of geriatric people, the adoption of advanced technologies in the healthcare industry is soaring. This is subsequently resulting in the adoption of the internet of things (IoT) in medical devices. Moreover, the escalating use of advanced medical devices such as wearable electronics, is reducing the cost of healthcare and improving patient outcomes.  For instance, medical devices such as insulin pumps and cardiac monitoring systems are being increasingly incorporated with IoT, as this technology enables the remote monitoring of patients. As micro batteries help medical device manufacturers reduce the size of their offerings, they are being increasingly incorporated in IoT-integrated devices.  Because of this reason, the growing popularity of IoT-integrated devices is driving the sales of micro batteries around the world. Besides this, the soaring utilization of smart meters is also creating lucrative...

In the preceding years, the North American region was the dominant user of ESLs, primarily on account of the largescale adoption of this technology among the expansive chains of retail stores, such as Wal-Mart. Additionally, the presence of favorable government initiatives facilitating the integration of automated products and encouraging technological developments across the retail sector also propels the adoption of ESLs in the U.S. and Canada.  Owing to these reasons, North America will retain its dominant position in the upcoming years as well. Whereas, the European electronic shelf label market is expected to exhibit the fastest growth throughout the forecast period, owing to the existence of a strong retail sector and the existence of eminent market players in the region.  Moreover, the extensive labor cost in European nations will also boost the demand for ESLs in stores and warehouses in the region. The large-scale adoption of ESLs in retail outlets and warehouses hel...

For much of 2020, people weren’t allowed to step out for non-essential purposes, and the traditional entertainment industry, comprising movies and TV series, was almost completely shut down. This led to the explosion of the visitor rate on entertainment websites, such as Amazon Prime Video, YouTube, Netflix, Hulu, Disney+, Hotstar, and Peacock.  This fueled the production of over-the-air movies and TV series, which has driven the demand for music composing software. Similarly, due to the closing down of schools, the online education sector and companies including Byju’s, Extramarks, Dexler, EdX, and Coursera, and, in turn, the music composing software market is witnessing rapid growth.  EdTech combines the traditional way of teaching by a human with innovative and easy-to-understand graphics and accompanying music, to make concepts clearer. Moreover, a lot of schools have also developed their online education platforms or have tied up with EdTech companies to offer smart class...

The easy availability of e-cigarettes on multiple distribution channels will, therefore, help the e-cigarette market witness a CAGR of 9.2% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will surge from $15.7 billion in 2019 to $39.0 billion by 2030. In recent years, the acceptance of vaping devices has significantly increased due to the rising awareness regarding environmental and human health.  With the growing public awareness, many governments have imposed a complete ban on smoking in several public spaces. Infused and heat-not-burn t-vapor, vape mod, rechargeable and disposable cig-a-like, and closed system and open tank vaporizer are the different types of e-cigarettes available for the male and female population of the world. In the preceding years, vaporizers were adopted in the highest quantity due to their low cost and dense aerosol production.  Moreover, vaporizers can be used with a wide range of flavors, owing to whic...

Large enterprises and small and medium enterprises (SMEs) across the world are increasingly opting for digital marketing strategies to meet their customized needs, attract more customers, and enhance their profit. In addition, businesses are also adopting next-generation technologies, such as robotics, computer vision, cloud computing, machine learning (ML), artificial intelligence (AI), and the internet of things (IoT), to improve their operations.  Thus, the surge in the use of digital marketing strategies and rapid digital transformation of business entities will accelerate the usage of field force automation solutions worldwide. Besides, the rising deployment of automated salesforce solutions by enterprises for better control of sales operations will help the field force automation market witness a healthy CAGR of 20.9% during 2020–2030.  According to P&S Intelligence, the market was valued at $1,196.9 million in 2019, and it will generate $9,033.0 million revenue by ...

The International Energy Agency (IEA) forecasts that the sale of battery electric vehicles (BEVs) (cars), fuel cell electric vehicles (FCEVs) (cars), and plug-in hybrid electric vehicles (PHEVs) (cars) will rise from 2,008,024 units in 2020 to 14,370,678 units by 2030, 9,601 units in 2020 to 293,176 units by 2030, and 969,034 units in 2020 to 7,761,233 units by 2030, respectively. The soaring electric vehicle (EV) sales, owing to the growing concerns regarding vehicular pollution, will propel the adoption of compressors in the automotive sector, as they are used in tire inflation, air conditioning systems, and painting. Nowadays, variable-frequency drive (VFD) compressors are being preferred over gas-turbine-based compressors due to the reduced downtime, accurate speed and process control, improved productivity, reduced noise, and lower energy costs and capital requirement exhibited by the former. Unlike gas-turbine compressors, VFD compressors do not cause air pollution, as they do no...

Factors such as the increasing funding by various governments and private companies in the field of quantum computing and the surging focus on establishing standards for quantum technology are expected to drive the growth of the quantum computing market at a CAGR of 33.1% during the foreseeable period (2020–2030). According to P&S Intelligence, the market size is projected to reach $1,866.8 million by 2030 from $89.6 million in 2019. Moreover, government organizations and other bodies are offering several initiatives to support and promote the commercialization of quantum computing. Globally, the North American quantum computing market accounted for the largest share in 2019. This is mainly due to the surging investments from government and private organizations to develop quantum computing technology. This leads to its increasing adoption in government, academic, and industrial facilities in the region. Whereas, the European market is projected to record the highest growth rate d...

A number of factors, such as the rise in deployment of electric vehicles (EVs), technological advancements, surge in concerns of air pollution, and developments of EV charging infrastructure, are expected to drive the electric vehicle charging cables market in the foreseeable period (2021–2030). According to P&S Intelligence, the market generated revenue of around $250 billion in 2020, and it is expected to witness significant growth in the coming years. Geographically, the APAC electric vehicle charging cables market accounted for the largest share in 2020, and it is also expected to maintain its lead during the forecast period. This is ascribed to the growth in the EV sector and the introduction of several projects by governments to improve the developments of EV charging infrastructure.  Moreover, China is the major contributor to the regional market growth, followed by South Korea and Japan. The governments of these nations are providing financial and regulatory support to...

Currently, deep learning solution providing companies are focusing on partnerships and acquisitions to cater to the needs of the retail, automotive, manufacturing, healthcare, and BFSI industries. For instance, in July 2017, Alphabet Inc. completed the acquisition of Halli Labs Pvt. Ltd., a provider of machine learning (ML) and deep learning solutions. As per the terms of this agreement, Halli Labs Pvt. Ltd. agreed to join Google's Next Billion Users team to increase the reach of ML and deep learning technologies among its customers. Further, in July 2019, Intel Corporation signed a partnership agreement with Baidu Inc. to jointly work on the Nervana Neural Network Processor (NNP) of the former. With this partnership, both the entities agreed to work on the hardware and software of NNP to ensure the optimization of this processor in the PaddlePaddle deep learning framework of Baidu Inc. Other companies opting for such measures include SAS Institute Inc., Qualcomm Incorporated, IBM ...

These refrigeration systems are available in specialty stores and hypermarkets/supermarkets and can also be bought from online platforms. Owing to the growing internet penetration and ballooning use of smartphones, the sales refrigeration systems from online platforms will shoot up in the upcoming years. This will be because of several benefits associated with shopping from online platforms, such as the ability to view product specifications before buying them and avail discounts. Geographically, the demand for commercial refrigeration equipment will rise sharply in the Asia-Pacific (APAC) region in the years to come. As per the estimates of the market research company, P&S Intelligence, the revenue of the market will rise from $24.6 billion in 2019 to $33.9 billion by 2030. Ice merchandisers and ice vending equipment, cryogenic equipment, vending machines, liquid chillers, beverage refrigeration equipment, display showcases, and walk-in coolers are the most commonly used types of...

The global data center colocation market value stood at $42.1 billion in 2019, and it is predicted to rise at a CAGR of 14.8% from 2020 to 2030 (forecast period). The market is being propelled by the creation of large volumes of data, growing use of cloud on-ramp, the financial and disaster mitigation benefits associated with data colocation, and extremely high maintenance costs of private data centers. Moreover, the data colocation model enables enterprises to rent the space and bandwidth of a data center for storing its information technology (IT) hardware, servers, and data. The high maintenance costs of private data centers is one of the major data center colocation market growth drivers. With rapid digitization and surging adoption of internet of things (IoT) and artificial intelligence (AI), large volumes of data are being generated, which must be cost-effectively and efficiently managed and securely stored. The construction of a private storage facility can cost $200 per square...

Currently, the Japanese e-cigarette market is dominated by British American Tobacco plc, Philip Morris International Inc., Imperial Brands plc, and Japan Tobacco Inc., who are actively engaging in product launches and mergers and acquisitions to gain a competitive edge. Other players in the market include Altria Group Inc., Shenzhen IVPS Technology Corporation Ltd., Pax Labs Inc., JUUL Labs Inc., Innokin Technology Co. Ltd., Shenzhen iSmoka Electronics Co. Ltd., and Shenzhen Kanger Technology Co. Ltd. Geographically, the Kanto region accounted for the largest share in the Japanese e-cigarette market in 2018. This was on account of the soaring number of ex-tobacco smokers and accelerating urbanization rate in major cities, such as Tokyo, Kanagawa, and Chiba. Tokyo is the largest city in the country and is divided into 23 wards.  As per the World Population Revies, the metropolis area of the city has a surface area of around 844.66 square miles and it is home to over 13 million peop...

Currently, the HR analytics market is highly competitive due to the presence of numerous players, such as Workday Inc., MicroStrategy Incorporated, International Business Machines Corporation, ADP LLC, Zoho Corporation, TalentSoft SA, Oracle Corporation, Sisense Inc., Infor Inc., SAP SE, Sage Group PLC, Crunchr, Visier Inc., and Kronos Incorporated. Presently, the market is dominated by Oracle Corporation, SAP SE, Workday Inc., and ADP LLC, as they offer better quality HR analytics solutions than other players. The industry segment of the HR analytics market is classified into banking, financial services, and insurance (BFSI), energy and utilities, education, government, healthcare, information technology (IT) and telecom, manufacturing, retail, and others. Under this segment, the BFSI category accounted for the largest market share in 2018. The dominance of this category can be primarily ascribed to the surging need of financial companies to deploy HR analytics solutions to attract t...