Renewable power generation and storage facilities are mushrooming up very quickly all around, due to the growing climate concern around the world.This has given a formidable push to the Energy market and has been the reason behind the increase in the energy as a service market.COVID-19 has affected the energy sector uniquely, but as the energy sector forms the backbone of the fight against the coronavirus, it stands its ground against the slowdown.Energy market is capable to take a little shock along the way and is not going to be affected by the pandemic to a greater extent, as most of the countries have put up safety measures to guarantee the continuation of operations; however, it is going to be affected nonetheless.Government boost to the renewable energy sources due to its multiple benefits like lower costs, reduced carbon footprint, environment-friendly, and energy efficiency is pushing the demands ahead in several countries.Along with this, increasing government investments in sponsoring renewable sources is going to engage demands and push growth rate ahead in the market.North America is expected to be the largest regional market, due to the fact that it has major intelligent building and building automation vendors.Also, these key players are inclined towards growing this market by reducing costs for delivering services and enhancing the customer experience.Energy as a Service is still in the nascent stage in several developing countries like India, Indonesia and others in Asia Pacific region.However, growing government push to renewable energy sources and housing projects is expected to boost the demand in the market/Artificial Intelligence along with several other technologies like machine learning, big data among others are being used in the energy sector.
The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide.The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India.However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales.Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe.The global online clothing rental market size is expected to reach USD 2.09 billion by 2025 and is anticipated to register a CAGR of 9.4% during the forecasted period, according to a new report by Grand View Research, Inc. Changing fashion trends and rising penetration of internet are among the key factors driving the growth.Women segment leads the market and is expected to expand at a CAGR of more than 9.8% over the forecast period.The trend of not using the same clothes for a long time and creating unique personal style or fashion statement are among the prominent factors driving the grow.Apart from women, the kids segment is also anticipated to witness significant growth in the upcoming years.
The global agro textiles industry is expected to reach USD 12.77 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand for food with growing population has put a lot of pressure on agricultural productivity.Limited availability of land coupled with various natural disasters further reduces the total yield.Agrotech aid in improving crop quality and help in increasing overall agricultural productivity.Need to increase crop productivity to fulfill daily demand of growing population has led to the industry growth.Associations such as Sustainable Agriculture Network (SAN), AGRA (predominant in Africa), and GLOBAL G.A.P.Academy provide expertise to farmers worldwide to set standards and achieve new heights in the field of food development.Prevalence of schemes and certifications given by authorities such as Integrated Farm Assurance (IFA), The International Gold Standard in Farm Certification, and GFSI schemes in agriculture have improved standardization in products and production methods.The demand for shade nets are mostly dependent on its usage in horticulture and floriculture.
Furthermore, the outbreak of COVID-19 has led to an increase in the number of customers buying grocery online in order to avoid going to department stores and limit their social contacts.Although the impact of coronavirus has caused an upsurge in online grocery shopping across the world only recently, it is expected to change the consumers’ buying behavior and positively impact the online grocery market over the long term.The shift toward online grocery shopping from traditional shopping methods is fueling the market growth.According to the United Nations Conference on Trade and Development, the global e-commerce sales reached USD 29 trillion in 2017.Furthermore, the total number of online shoppers worldwide reached 1.34 billion as compared to 1.20 billion in 2016.This number is bound to rise owing to technological developments that have led to the adoption of online platforms by various retailers as well as rising disposable income among people in developing economies.Along with these factors, recent pandemic of corona virus is another major contributor of rising number of online grocery shoppers across the globe.Increasing adoption of online shopping is expected to fuel the market growth.
The global data center cooling industry size is expected to reach USD 20.7 billion by 2025 expanding at a CAGR of 13.5%, according to a study conducted by Grand View Research, Inc.Rising number of data centers, increasing usage of cloud computing, and increased demand for eco-friendly cooling technologies are some of the key factors that are expected to boost the market growth.Emergence of cloud computing coupled with initiatives by government organizations to promote the adoption of cloud technology and enable prominent vendors to introduce technological advancements is driving the market growth.For example, the government of UAE introduced various projects including Smart Dubai and Smart Abu Dhabi, which were aimed at bringing about digital transformation and economic growth in the country.Such initiatives are expected to drive the market in UAE.Data center cooling accounts for over 30% of the total energy consumption.In the current scenario, companies are moving toward sustainable cooling, which can save up to 80% or more on energy costs for cooling.For instance, Apple’s North Carolina data center facility operates completely on sustainable, eco-friendly power sources as data center cooling is achieved through the free-air cooling technique, allowing the chillers to be off 75% of the time.Additionally, there is a rise in pressure from the local and federal government agencies, environmentalists, and the general public for organizations to implement green initiatives.
The global flexible electronics market was USD 20,850.0 million in 2015, which is estimated to reach USD 87,210.0 million by 2024, according to a new report by Grand View Research, Inc.Flexible batteries, displays, memories are a few products realized with the adoption of this technology.The technology provides ample opportunities in the area of smart textiles, which is the future of wearable’s.Government support in the form of funding that lends a helping hand to several research projects in this field is also anticipated to impact the industry growth positively.Healthy demand for smart glasses, e-books, smartphones, smart watches, and e-papers is expected to catapult market growth over the next eight years.The technology facilitates electronic systems to be stretched, rolled, and flexed, minimizing design issues associated while developing compact, portable and miniature devices.The style and functionality of wearable devices is anticipated to witness a transition over the next eight years with companies such as Samsung, Apple, Nike and Google investing heavily in this segment, thereby providing avenues for discovering novel applications incorporating this technology.Further key findings from the report suggest:The consumer electronics segment accounted for over 55% of the overall revenue in 2015.
The global E-commerce market is anticipated to grow significantly over the forecast period.E-commerce can be defined as electronically conducted commercial transactions via the internet, pertaining to the buying and selling of goods and services.E-commerce includes online goods and services (software, e-books, media streaming), retail services (ordering food, travel, mail deliveries), marketplace services (e-wallet, comparison shopping) and customer support (help desks, live support).It can also be classified on the nature of the dealing parties: B2B, B2C, C2B and C2C or the distribution channels adopted by them: pure click, brick-&-click or click-to-brick.Apart from these economic factors, customer interaction and marketing forces and multimedia convergence fuel e-commerce growth.To succeed, a company needs to have a strong, reliable and efficient supply chain and connectivity network to ensure timely processing of orders.
ABB was awarded an agreement by Hyundai to offer an electrification, power management, and telecommunication solution for oilfields off the coast of the UAE, in July 2016.The power management completed by ABB was mainly based on System 800xA.This agreement will boost the market growth in the forecast period.Yokogawa was awarded an agreement by Sharjah Electricity and Water Authority (SEWA), in January 2017, to offer control systems for the desalination station and Layyah power.The company will offer the CENTUM VP integrated production control system for the turbine governor, boiler, turbine protection system and the ProSafe-RS security instrumented system for boiler protection and burner management.In November 2018, ABB offered its Ability Symphony Plus distributed control system, an incorporated automation solution to manage the production of China’s first commercially controlled concentrated solar power plant.This will boost the distributed control system market in the years to come.Emerson Electric Co, in April 2018, developed a superior version of DCS, named as DeltaV version 14.Furthermore, this upgrade has helped to decrease working costs by improving efficiency and security in development operations.ABB (Switzerland) announced 800xA 6.1 distributed system, in March 2019, presenting upgraded Ethernet solution with a series of engineering tools, and extra high integrity controllers.
Opportunities:As organizations today expand in different verticals, their core processes also diversify, and this leads to a higher demand for BPOs to address the increasing non-core activities.As companies adopt the use of cloud computing and analytics, there will be various avenues for BPOs to grow.In fact, cloud is expected to facilitate the Next Gen BPO service providers.Firms will be expected to provide value to the organization, rather than just availing their services at a lower cost.As such, innovation is expected to play a huge role in furthering development of BPOs.Challenges:The political scenario around the globe is witnessing constant changes, and conditions such as war can adversely affect outsourcing in different countries.Customer satisfaction has proved to be a challenge for BPOs and with the advent of social media platforms, they face tough competition with regards to customer acquisition.BPO industry faces a continuous issue of operating on a minimal budget.They have to get maximum output from a limited number of resources.Customer attrition also provides a huge challenge to the market, as the client may switch over to any BPO competitor, which is a significant cost to the company.Lack of talent and employee attrition rate are also significant challenges that the BPO industry needs to address.Access full research report on global business process outsourcing market: www.grandviewresearch.com/industry-analysis/business-process-outsourcing-bpo-market
The global virtual mirror market size is expected to reach USD 17.09 billion by 2025, registering a CAGR of 25.6% from 2019 to 2025, according to a new report by Grand View Research, Inc.These mirrors have helped turn the cumbersome process of shopping into an engaging activity as they incorporate interesting interactive features.Their features, shape, integration, and ease of use vary depending on the type of end-use industry.Retail stores are expected to benefit through the installation of such mirrors to a great extent, as the data pertaining to customer preferences and factors influencing buying decision are expected to provide crucial insights for developing marketing strategies.In automobiles, virtual windscreen and side/exterior mirrors are expected to provide a sleek frame design.This will allow users to access features such as zooming into the background for a wider view, as opposed to the traditional side mirrors.
The global digital health industry size is expected to reach USD 509.2 billion by 2025, expanding at a CAGR of 27.7% over the forecast period, according to a new report by Grand View Research, Inc.Growing adoption of mHealth technologies by physicians to prescribe for self-management of chronic illness, such as diabetes, has propelled the growth of the market.Availability of such apps in smartphones makes it easier for healthcare professionals to access patient information and diagnose diseases.Furthermore, increase in penetration of smartphones and internet connectivity are the key factors driving the market.Growing need for improving workflow efficiency in hospitals and other healthcare centers is propelling the demand for mHealth services in healthcare administration.For instance, Results SMS in Uganda is an open source SMS-based platform providing appointment reminders.It gives appointment reminders as SMS to patients.
The global automotive wheels aftermarket size is expected to reach USD 7.19 billion by 2025, registering a 3.0% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc.Prominent factors driving the market include replacement of wheels, increment in rim size, and enhancement in design.Further, the use of carbon wheels mainly for sports and luxury cars is fueling the wheels aftermarket growth.And the distribution channel growth is driven by the proprietary brands and extensive product range.The current trend of the improving the efficiency of passenger cars and commercial vehicles is expected to surge the demand for lightweight wheels.Government regulations impended by various countries regarding the weight reduction to decrease fuel consumption is expected to create high growth opportunities for these types of wheels.Further, with the growing technological complexities in the vehicle, manufacturers are opting to provide better customer satisfaction and service by following government safety standards.High disposable income, affordability among the consumers, and the increasing number of vehicle parc on road are some of the primary reasons, which are expected to influence the sale of luxury vehicle wheels over the forecast period.
The U.S. sterilization services market size is expected to reach USD 2.72 billion by 2025, according to a new report by Grand View Research, Inc., registering a 5.1% CAGR during the forecast period.Supportive government investments in the healthcare industry, increasing R activities, and rising volume of drug launches are key factors impacting market growth.The U.S. government has been keen on curbing healthcare costs and this is anticipated to encourage the FDA to speed up approval procedures for generic pharmaceuticals.Faster approvals drive the need for newer sterility testing methods, compelling innovative market participants to spend more on such solutions, thereby propelling the market.With increasing demand for drugs, companies are launching newer drugs with different routes of administration, dosage, or for a new indication.These launches require thorough sterility testing and this is anticipated to drive market growth.By end use, the market is divided into hospitals, pharmaceuticals, medical device companies, clinical laboratories/research centers, and others, which includes food and beverage companies.Hospitals dominated the overall sterilization services market in 2016 and the segment is expected to retain its top position throughout the forecast period.
The global terrestrial trunked radio (TETRA) market size is expected to reach USD 6.5 billion by 2025, according to a study conducted by Grand View Research, Inc., expanding at a CAGR of 17.8% during the forecast period.Increasing smartphone applications for public safety and growing adoption of TETRA - approved devices in the defense and transportation sectors are bolstering the growth of the market.The devices enable users to experience enhanced audio quality and secure communication.Growing interest of TETRA - approved equipment provider companies such as Airbus Defence and Space to expand their business in regions such as the Middle East is estimated to drive the adoption of TETRA - approved devices in the region.Additionally, increasing construction activities are boosting market growth.Asia Pacific is poised to witness considerable growth, owing to soaring need for public safety and improving IT infrastructure.Increasing support offered by various governments to promote the adoption of TETRA is also providing a fillip to the market.However, high costs of development and maintenance of TETRA - approved equipment are projected to hinder the growth of the market.Therefore, equipment providers are focusing on developing affordable solutions that can be used in different sectors such as utilities, transportation and others.Further key findings from the study suggest:Direct mode operation (DMO) offers radio frequency (RF) coverage.
The global fetal (labor & delivery) and neonatal care equipment market size is expected to reach USD 10.6 billion by 2026 expanding at a CAGR of 6.9%, based on a new report by Grand View Research, Inc. Fetal and neonatal care devices consist of a variety of equipment that are designed to monitor and detect complications in newborn babies.The market growth can be attributed to factors such as a growing birthrate in developing countries coupled with rising prevalence of associated premature births also known as preemies.Furthermore, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) and healthcare-associated pneumonia are additional notable factors responsible for the market growth.Various aspects such as delayed maternal age, induced fertility, and lack of proper prenatal care are considered to be major factors contributing to the birth of premature babies.According to the WHO estimates, 15 million neonates are born annually and a million were reported to die from preterm birth complications in 2015.To address the complications associated with babies born prematurely, the demand for fetal and neonatal care equipment is expected to rise significantly.In addition, consequences of supportive government policies coupled with rapid technological advancements in modern fetal and neonatal medical equipment is expected to contribute for growth in the long term.Further Key Findings from the Study Suggest:Fetal care equipment accounted for the largest share of the market in 2018, however neonatal care equipment is expected to grow at a rapid rate during the forecast period.Increasing complications during birth, increasing number of separate facilities for fetal & newborn care, and technological advancement in the fetal & neonatal care field are the key driving factors of the market.For instance, in February 2019, the University of Chicago Medicine launched Fetal and Neonatal Care Center (FNCC).
The global smart helmet indsutry size is expected to reach USD 1.20 billion by 2025, expanding at a CAGR of 18.6% from 2019 to 2025, according to a new study by Grand View Research, Inc.Rising popularity of the product in various applications such as riding, adventure sports, manufacturing, and construction is projected to drive the growth.These protective headgears provide users with enhanced safety, security, and comfort.The growing adoption of smart wearable technology, stringent workplace safety and road safety regulations laid down by governments, and increasing awareness for personal health and safety are expected to drive the demand for smart helmets over the forecast period.Smart helmets consist of multiple sensors that perform functions such as heart rate monitoring, temperature monitoring, and air quality monitoring.The sensors collect data in real time to provide users with detailed information regarding various interactions, navigation, and environmental and health attributes.Satellite aided navigation is one of the most vital features offered by smart helmets.It enables highly accurate navigation capability by using multiple satellite networks such as Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Galileo Positioning System, BeiDou Navigation Satellite System, and Indian Regional Navigation Satellite System (IRNSS).Smart helmets are further capable of providing a wide range of other communication, utility, and safety features using built-in speakers, microphones, rear-facing cameras, cooling fans, solar chargers, and health monitoring sensors.Manufacturers are using materials that are light in weight and high in strength, such as fiberglass reinforced plastic and carbon fiber, for weight reduction and enhanced survivability.Increasing adoption of next-generation technologies such as Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) is anticipated to drive the development and adoption of smart helmets.
The U.S. e-cigarette and vape industry size is expected to reach USD 18.5 billion by 2025, exhibiting a CAGR of 24.1% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc.The ability of e-cigarettes to reduce exposure to potentially toxic substances is expected to drive the market over the forecast period.Another factor that is expected to drive the market is that health hazards associated with electronic smoking and vaping devices are relatively lower as compared to conventional tobacco cigarettes.Changing lifestyle and preferences of adult smokers bodes well for the U.S. market.Adult smokers who are addicted to smoking but are willing to quit the habit are shifting from conventional tobacco cigarettes to electronic variants, thereby driving the adoption of the latter over the forecast period.Electronic smoking devices and products claim to minimize the risk of cancer usually posed by conventional cigarettes.Moreover, vaping devices do not have any smoke associated with them, which means, they pose fewer health risks to passive smokers.Electronic smoking devices also help in reducing the volume of cigarette litter and ash.Advances in technology are allowing vendors to offer electronic smoking products in a wide range of flavors.
The global analytics of things or internet of things (IoT) analytics market size is expected to reach USD 57.3 billion by 2025, according to a study conducted by Grand View Research, Inc., registering a CAGR of 29.7% during the forecast period.Soaring need for advanced technologies and cost-effectiveness is augmenting the adoption of analytics of things.Generation of useful data has become easy due to high-tech sensor collaborations.Extracted data can be used by enterprises for making better real-time decisions.Ease of deployment and reduced costs of components are further escalating the adoption of analytics of things.It also facilitates analysis of massive amounts of data generated by IoT.It helps in connecting, managing, transforming, aggregating, and processing data and providing real-time insights.
Global eHealth industry is expected to reach USD 308.0 billion by 2022, according to a new report by Grand View Research Inc.The transition of the healthcare industry into digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market.Increasing prevalence of chronic diseases, and technological advancements in this field are few impact rendering factors.Rising use of mobile technologies and internet along with increasing adoption for home care by patients is expected to propel market growth over the forecast period.Furthermore, expanding scope of IT companies pertaining to the development of real-time applications and software catering to the healthcare industry is expected to drive demand over the forecast period.Federal agencies such as the European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), in order to encourage and popularise eHealth, formulated various policies since 2007.One of these is the eHealth Action Plan, formulated in December 2012, which includes 16 proposed actions to boost eHealth use, focused on increasing research, innovation, interoperability and adoption.The American Health Information Community (AHIC) was chartered in the U.S. to make recommendations leading to the likely development of eHealth to the Secretary of the U.S. Health Department.Based on these recommendations, efforts are being made to increase awareness levels for currently available mobile applications and wearable remote monitoring devices.The benefits encouraging higher demand include round the clock care service, wider and faster access to patient information, reduction of administrative and medical errors, self-monitoring and management by patients and centralization of entire healthcare industry chain.Further key findings from the report suggest:The diagnostics segment of eHealth services market is expected to witness the fastest growth of above 15.0% over the next seven years owing to, the increasing number of patients with at least one chronic condition and rising prevalence of infectious diseases.
The global medical automation industry is expected to reach USD 79.4 billion by 2024, according to a new report by Grand View Research, Inc.For example, the automation of tedious tasks such as sampling, monitoring of quality, quantity, packaging and labeling, and scanning of medicines and devices, have reduced human efforts and increased speed and accuracy, which has led to increased dependency on these automated systems.Moreover, the growing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is further pushing the demand for therapeutic, laboratory and pharmacy automated medication systems, which are faster and more productive.The aforementioned factors are responsible for creating the need for automated medical equipments over the forecast period.For instance, automation in the following pharmacy-based functions, medication dispensing, storage, and retrieval enables traceability and tracking, which in turn improves patient safety and reduces errors.Furthermore, there is an increased focus on incorporating automation in hospitals due to the associated benefits, such as reduction of errors and operational costs; these factors altogether are expected to present this market with high growth opportunities in the near future.Further key findings from the study suggest:The therapeutic segment was observed to dominate in terms of revenue share in 2015owing to the high usage rate of automated devices in the non-surgical procedures, such as external defibrillators, an implantable cardioverter, and wearable/ implantable drug pumps On the other hand, the medical logistics and training segment is expected to grow at a lucrative CAGR of over 10.0%.