Month: March 2021

Based on technology, the market of human enhancement is divided into implants, medical devices, smart devices, and exoskeletons. Out of these, the implants category recorded the highest growth in the market in the past years, on account of the heavy usage of these devices in medical applications, mainly because of the presence of a large geriatric population and the high incidence of neurological and chronic diseases in various countries around the world. 

When application is taken into consideration, the human enhancement market is categorized into defense, industrial, and healthcare. Out of these, the defense category is predicted to demonstrate the fastest growth in the market in the upcoming years. This will be because of the fact that human enhancement systems are widely used in defense applications, on account of their ability to provide mobility, strength, safety, and endurance to soldiers and defense personnel. 

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Across the globe, the human enhancement market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. This will be due to the mushrooming demand for connected wearable devices, on account of the rapid fall in their prices and the surging penetration of the internet, in the regional countries. On the other hand, the highest market advancement will be observed in North America in the upcoming years, as per industry experts. 

Hence, it can be said with full confidence that the market will register substantial growth all over the world in the coming years, primarily because of the rising incidence of neurological diseases, the soaring geriatric population, and the extensive usage of exoskeletons in rehabilitation centers around the world. 

The rapid expansion of the automotive industry, on account of the surging disposable income of people, the burgeoning requirement for electric cars, and the rapid technological advancements and innovations, is one of the major factors responsible for the mushrooming sales of compressors across the world. This is because compressors are heavily used in various applications in the automotive industry such as car painting, tire inflation, engine construction, and air conditioning systems. 

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According to various reports, over 2.1 million electric cars were sold across the globe in 2019. Moreover, electric cars accounted for as much as 2.6% of the total car sales around the world in 2019, registering a year-on-year (Y-o-Y) growth of 40% from the previous year. Apart from the growth of the automotive industry, the boom in the heating, ventilation, and air conditioning (HVAC) industry is also positively impacting the sales of compressors all over the globe.

Because of the rapid construction of commercial and residential buildings, the ballooning popularity of smart homes, and the development of highly energy-efficient systems, the HVAC industry is registering huge expansion across the world. This is subsequently pushing up the demand for compressors, which is, in turn, driving the advancement of the global compressor industry. As a result, the market valuation is predicted to grow from $39.9 billion in 2019 to $48.5 billion by 2030.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

Depending on type, the market is classified into VR and AR. Between these, the AR category is predicted to exhibit faster growth in the market in the coming years. This will be because of the various possibilities and benefits offered by the AR technology and the rapid technological advancements being made in the wireless technology, that allows the easier integration of the AR technology with home appliances and mobile devices, thereby offering a connected experience to the users. 

Geographically, the AR and VR industry recorded the highest growth in North America in the past years and it is predicted to demonstrate rapid advancement in this region in the future years as well. In this region, the demand for these technologies is currently booming in the U.S., because of the existence of several AR and VR solutions providing companies in the country. Additionally, the usage of VR and AR technologies is surging in the healthcare and e-commerce sectors.

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This is further boosting the demand for these technologies in this region. According to the estimates of P&S Intelligence, a market research company based in India, the demand for AR and VR technologies will rise rapidly in the Asia-Pacific (APAC) region in the coming years. This will be because of the rapid technological advancements and innovations, the presence of a large population of young people and the growing popularity of VR and AR-enabled gaming in this region. 

Hence, it is quite clear that the demand for AR and VR technologies will rise tremendously all over the world in the forthcoming years, mainly because of their growing requirement in the healthcare, media and entertainment, and gaming industries. 

The automotive industry uses a large number of mobile collaborative robots or mobile cobots, as they offer standardization and quality output in the production process. Unlike human operators, these robots can handle multiple tasks like assembling, material handling, and welding, owing to which their deployment is escalating in the manufacturing plants of automobile companies.

Thus, the rising applications of such cobots will fuel the mobile collaborative robots market at a CAGR of 26.3% during the forecast period (2020–2030), to reach $6.8 billion by 2030 from $543.3 million in 2019.  The payload segment of the mobile collaborative robots industry is categorized into >10 kg, 5–10 kg, and <5 kg. Among these, the <5 kg category held the largest market share in 2019, as mobile cobots with a payload capacity of <5kg are ideal for pick and place, testing, and assembly applications.

Besides, the lower cost and smaller size of such cobots, as compared to other cobots, drive their demand. Whereas, the 5–10 kg category will exhibit the fastest growth during the forecast period, owing to the widescale adoption of these robots in the electronics and automobile industries. These mobile collaborative robots with different payload capacities are used in several end-use industries like automotive, retail, healthcare, aerospace and defense, agriculture, electronics, mining and mineral, and manufacturing.

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Among these end users, the manufacturing sector adopts the highest number of mobile cobots, due to the enhancing automation level in this industry. The industrial plants require such robots for assembly operations, as they reduce the assembly time, thereby, speeding the production process. Additionally, electronics manufacturers are also utilizing mobile cobots to increase their productivity and to perform monotonous tasks.  

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

The global GIS in disaster management industry was valued at $2.3 billion in 2019. Furthermore, the market will advance at a CAGR of 13.7% from 2020 to 2030 and it is predicted to reach a value of $9.4 billion by 2030. The factors driving the advancement of the market are the increasing occurrence rate of natural disasters and the growing public awareness about mitigating the socioeconomic impact of various natural disasters. 

The GIS technology is being extensively used for emergency and disaster management applications such as the assessment of safe and secure shelter areas, the evaluation of emergency supply distribution, the identification of the potential impact of natural disaster on bridges, buildings, and roads, and the real-time monitoring and tracking of various early-warning signals.

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As per the Weather, Climate, and Catastrophe Insight: 2019 Annual Report, in 2019, 409 natural disasters occurred all over the world. Moreover, these disasters caused financial losses of as much as $232 billion. Apart from the high occurrence rate of natural disasters, the increasing adoption of the GIS technology by various government emergency management companies is also propelling the advancement of the GIS in disaster management market across the world.

This is credited to the growing requirement for the deployment of advanced technologies for effectively managing various disaster situations, handling several search and rescue operations, and predicting emergency situations. 

The industry segment of the next-generation firewall market is categorized into banking, financial services, and insurance (BFSI); aerospace & defense; government & public utility; information technology (IT) & telecommunication; retail; healthcare; manufacturing; and others. Among these, the BFSI industry generated the highest market revenue in 2019. This is ascribed to the surging adoption of digital technologies, rising number of financial institutions, and increasing need to prevent cyberattacks.

The healthcare industry is projected to observe the highest CAGR during the forecast period, owing to the increasing cases of data breach in the sector. Moreover, the next-generation firewall market is bifurcated into large enterprises and small and medium enterprises (SMEs), based on enterprise size. Between the two, the large enterprises category accounted for the larger share in the market of next-generation firewall in 2019, owing to the increasing requirement for enhanced digital security solutions to manage and secure vast amounts of data in big companies.

The SMEs category is projected to observe the higher CAGR during the forecast period, due to the increasing focus of such companies on deploying the cost-effective NGFW solutions. Geographically, the next-generation firewall market in the Asia-Pacific (APAC) region is expected to witness the most-rapid advance during the forecast period. This can be ascribed to the increasing number of SMEs, surging demand for IoT devices, rising number of cyber threats, and growing focus of governments on data security.

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North America held the largest industry share in 2019, owing to the presence of a large number of market players, rising adoption of cloud solutions, and growing initiatives of governments for the safety of public data. Thus, the rising number of cyberattacks, surging deployment of IoT devices, and increasing number of financial institutions across the globe are expected to propel the market growth during the forecast period.