Latest Industry Insights

The global Natural Skin Care Products Market size is expected to reach USD 11.87 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2022 to 2030. Organic products are gaining traction among a growing number of consumers, driven by the rising environmental awareness globally. Usage of organically-sourced ingredients in product formulations is anticipated to surge in the next few years as per the trends observed in skin care product consumption.

Natural skin care products are available in a wide variety of formulations to suit the requirements of a varied set of consumers, irrespective of their skin tone. The demand for herbal or natural skin care products is increasing rapidly owing to their perceived health benefits, such as lack of side effects and higher skin-friendliness. Moreover, natural skin care products also nourish the skin with vital minerals and nutrients, further propelling their demand.

The facial care segment contributed a majority of the share to become the largest division in the market in 2021. Growing skin-related concerns including acne issues, dead skin, open pores, and dull skin, mainly among millennial groups, have led to the acceptance of natural skin care products. For instance, in April 2020, Tata Harper, a natural skin care brand, launched Water-Lock Moisturizer for the face containing pomegranate enzymes and orange blossom peptides.

The e-commerce segment is expected to register the fastest CAGR from the year 2022 to 2030. E-commerce retail sales are expected to witness substantial gains in the coming years on account of rising consumer spending, growing population, and wide availability of products. In addition, the introduction of mobile shopping apps for natural skin care products such as Amazon, Nykaa, Purplle, Just Herbs and the availability of safe and convenient payment gateways are contributing to the growth of the online retail industry.

The market is consolidated in nature with the presence of a large number of international players and a few regional players. Procter and Gamble; Estee Lauder; Mama Earth; Unilever; Clorox Co.; Honest Co.; The Body Shop; L’Oréal; and FOM London Skincare; Bloomtown are among the prominent players in the market.

Related Press Release@ Natural Skin Care Products Market Report

Natural Skin Care Products Market Report Highlights

• Europe is expected to contribute a majority of the share to become the largest division in the market in 2021. European consumers, most notably in Germany, the U.K., France, and Italy, are becoming increasingly eco-conscious by making product choices based on a company’s or brand’s sustainability credentials. The increasing preference for eco-friendly natural skin care products is expected to increase the sales of natural skin care products in the upcoming years
• The premium segment is projected to register the fastest growth during the forecast period with a CAGR of 6.8% from 2022 to 2030. Innovation in products such as moisturizers, cream and lotion products is likely to propel segment growth. The rising premiumization of skin care products that contain high-quality ingredients is expected to attribute the growing popularity of premium skin care products
• During the forecast period, the e-commerce segment is expected to grow the fastest. The increasing availability of a wide range of natural skin care products of different brands, free delivery, and seasonal discount on e-commerce platforms such as Nykaa, and Amazon are among the major reasons driving the segment

The global Phosphate Rock Market size is expected to reach USD 29.73 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.2% from 2022 to 2030. The increasing demand from the agriculture industry, along with the growing population, is anticipated to fuel the market growth over the forecast period. According to the United Nations, the world population increased by 1.1% from 2017 to 2018 and is projected to reach 9.8 billion in 2050. This is expected to drive the demand for phosphate fertilizers to support the food needs, which, in turn, is expected to propel the utilization of phosphate rock over the coming years. Moreover, growing animal feed production is projected to support the market growth over the coming years.

Phytase is a growing alternative for phosphate feed owing to the high costs of phosphate feeds. It is a vital ingredient in animal feed and affects reproduction, growth, and feed cost. Most of the natural phosphate is unavailable to animals, thus it is important to add inorganic phosphate in diets to compensate for natural phosphate needs. In such cases, phytase is added to improve performance and reduce the cost of animal feed. These benefits of phytase are further expected to affect the market dynamics.

Industrial applications of phosphate rock include cleaners, detergents, incendiary shells, tracer bullets, pyrotechnics, pesticides, metal coatings, toothpaste, cosmetics, pharmaceuticals, anticorrosion agents, matches, and other phosphorus compounds. Demand for synthetic detergents is projected to rise owing to urbanization in emerging economies. Most synthetic detergents contain phosphate as a builder, which improves the phosphate loading rate in water bodies. Thus, the demand from the detergent application segment is projected to benefit the growth of the phosphate rock industry.

The European Union countries are highly dependent on other countries for phosphate rock imports owing to the lack of sufficient phosphate reserves in the region. This leads to high production costs of phosphate fertilizers in the region. The demand for fertilizers is decreasing in Western Europe in contrast to the increasing demand in Eastern Europe. European countries are relying on potassium and nitrogen fertilizers as a result of the high production costs involved with phosphate fertilizers owing to the high phosphate prices.

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Phosphate Rock Market Report Highlights

• The fertilizers application segment was the largest segment in 2021 and accounted for a revenue share of over 75.0%. The need to improve crop yield, along with the growing demand for agriculture products such as vegetables and fruits, is projected to remain a key contributing factor for the market growth
• The food and feed additives application segment is anticipated to witness lucrative growth over the forecast period. Phosphate is an important ingredient in animal feed and helps to improve fertility, digestive process, and bone strength in animals
• Asia Pacific was the largest regional market in 2021, in terms of both volume and revenue. The growth of the regional market is attributed to stable agriculture production and demand for food and nutrients for the growing population in countries such as China, India, and ASEAN
• The Middle East and Africa emerged as the second-largest regional market in 2021. The growth of the region is attributed to the availability of phosphorus rock reserves and the production of phosphate fertilizers in the region

The Indian Clinical Trials Market size is expected to reach USD 3.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2022 to 2030. The globalization of clinical trials, growing disease variation and prevalence in the country, adoption of new technology in clinical research, and increasing R&D promoting outsourcing are the key factors driving the market.

India is populated with 1.3 billion individuals with varying genetic backgrounds and a large treatment-naïve patient pool for the development of therapeutics on a range of disease conditions. Furthermore, the economic, environmental, and ecological variations in the 28 states and 8 union territories present the most diverse disease profile. Apart from this, the cost of carrying out clinical trials in India is nearly 40-70% less when compared to that in Europe or the U.S. Thus, the cost efficiency, along with skill sets and ease of doing business, is anticipated to fuel the market growth.

The increasing R&D investments by pharmaceutical and biopharmaceutical companies have led to increased demand for contract research organizations and outsourcing of trials in order to curb the cost. Furthermore, outsourcing enables the drug companies to focus on their core competencies and aids in improving their productivity, thus facilitating the outsourcing of trials in India. The COVID-19 pandemic has improved the market in the country. Several companies globally are conducting clinical trials for COVID-19 vaccines in India. Moreover, government initiatives promoting clinical trials for COVID-19 therapeutics in the country have promoted market growth.

Related Press Release@ Indian Clinical Trials Market Report

Indian Clinical Trials Market Report Highlights

• By phase, the phase I segment is projected to register the fastest growth rate of 9.9% over the forecast period. This can be attributed to the increasing R&D spending by pharmaceutical and biopharmaceutical companies
• The interventional trials study design segment held the largest revenue share of over 40.0% in 2021 owing to the greater accuracy offered by them as compared to observational study design
• The oncology indication segment held the largest revenue share of over 20.0% in 2021 due to the increasing prevalence of the disease condition and the consequent rise in demand for innovative therapies for cancer

The global Endoscopy Devices Market size is expected to reach USD 81.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a compounded annual growth rate (CAGR) of 7.4% from 2022 to 2030. Growing adoption of minimally invasive endoscopic procedures by medical professionals to look into the esophagus, colon, and stomach and also its application to perform biopsies and sclerotherapy are some of the factors boosting the market growth. In addition, the increasing trend of adopting disposable endoscopes to reduce the chances of cross contaminations is also anticipated to fuel the growth of the market over the forecast years. 

In 2021, based on product, the endoscopy visualization systems segment accounted for the highest revenue share of 36.5% of the market. This is attributed to the growing adoption of High Definition (HD) visualization systems by medical professionals for better imaging results during endoscopic procedures. In addition, continuous technological advancements of endoscopy visualization systems for the treatment and diagnosis of complex health conditions such as cancer, functional gastrointestinal disorders, lung disorders, and urinary disorders also support segment growth. 

Based on application, the Gastrointestinal (GI) endoscopy segment dominated the market in 2021 in terms of revenue owing to the increasing burden of gastrointestinal diseases and the rising geriatric population. In addition, increasing recommendation by medical professionals to perform endoscopic procedures as the first line of diagnosis option for gastrointestinal disorders is also one of the major factors supporting the segment growth. The hospitals segment accounted for the highest revenue share of 48.1% in 2021. This is attributed due to the larger number of endoscopic procedures performed in the hospitals than in other end-use segments. 

In addition, favorable reimbursement policies and the high availability of government and private hospitals performing endoscopy procedures are some of the prominent factors anticipated to drive the segment growth. North America dominated the market in terms of the revenue share of 42.3% in 2021. The highest revenue share of this region is attributed due to the increasing adoption of advanced endoscopic devices and the high availability of modern healthcare facilities performing minimally invasive surgical procedures. In addition, growing functional gastrointestinal disorders and other chronic diseases such as cancer also are the major factors driving market growth in this region. 

Furthermore, the COVID19 pandemic has significantly impacted the market owing to the cancellation and postponement of elective procedures. Moreover, the fear of getting infected with the COVID-19 virus also reduced the number of surgical procedures which in turn led to the de-growth of the endoscopy devices adoption in 2020. For instance, according to a study published in the Arab Journal of Gastroenterology in 2020, the number of endoscopy procedures decreased about 50% during the COVID19 pandemic in the majority of countries all over the globe. 

Related Press Release@ Endoscopy Devices Market Report

Endoscopy Devices Market Report Highlights 

• The market is anticipated to be valued at USD 81.0 billion by 2030 owing to the growing adoption of minimally invasive endoscopic procedures by medical professionals in comparison with open surgeries
• The endoscopy visualization systems segment dominated with highest revenue share in 2021 owing to growing adoption of High Definition (HD) visualization systems by medical professionals for better imaging results during endoscopic procedures
• In 2021, the Gastrointestinal (GI) endoscopy segment accounted for the highest revenue share owing to the growing burden of functional gastrointestinal diseases and rising geriatric population
• Hospitals accounted for the highest revenue share of 48.1% in 2021, owing to favorable reimbursement policies and high availability of government and private hospitals performing endoscopy procedures
• North America accounted for the largest revenue share of 42.3% in 2021, owing to increasing adoption of advanced endoscopy devices and high availability of modern healthcare facilities performing minimally invasive surgical procedures

The global Orthopedic Regenerative Surgical Products Market size is anticipated to reach USD 5.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 3.9% from 2022 to 2030. The key factors driving the market growth include the rising geriatric population, orthopedic procedures, research activities, and technological advancements. Osteoarthritis, for instance, has been identified as the leading cause of chronic disability in the geriatric population over the age of 70. The World Health Organization (WHO) has also designated osteoarthritis as a ‘priority disease’ promoting R&D for therapies to treat osteoarthritis and its associated symptoms.

The growth of the market was restrained during the COVID-19 pandemic due to deferred elective surgeries, low volume of patient flow for chronic conditions in clinics and hospitals, decreased sales and marketing activities, quarantine and lockdown protocols, and low demand. Vericel Corporation, for example, reported the adverse impact of COVID-19 on its business and operations during 2020. The company registered cancellations of scheduled MACI procedures; its key product used in the repair of cartilage damage of the knee. In addition, there was a slowdown in new orders. Anika Therapeutics reported challenges in patient enrollment for its clinical trials due to the pandemic, which negatively impacted the company’s revenue and operating results. However, both companies expect recovery financial performance as elective surgeries resumes to pre-COVID numbers.

According to the Centers for Disease Control and Prevention (CDC), about 26% (or 78 million) the U.S. adults are estimated to suffer from arthritis by 2040. The prevalence increases with age and is found to be more common in women. Obesity has been identified as another risk factor contributing to orthopedic conditions. The prevalence of obesity in the U.S. was estimated at 42.4% from 2017 to 2018 by the CDC. The increasing prevalence of orthopedic diseases, obesity, and geriatric population is expected to fuel market growth. Orthopedic regenerative surgical products find application in different conditions of varying severity from joint pain, gout, articular defects, fibromyalgia, and osteoarthritis, to trauma and joint replacement, this is expected to contribute to market growth.

Market players are also involved in research and development activities to launch new regenerative solutions for treatment or pain relief from orthopedic conditions. Amniox Medical, Inc. for instance, received FDA clearance to proceed with a dosing study using TTAX03- its Investigational New Drug (IND) comprising cryopreserved amniotic membrane and umbilical cord, to treat facet joint osteoarthritis pain in March 2021. Zimmer Biomet on the other hand offers an extensive portfolio of allografts and synthetic orthopedic regenerative products such as the PrimaGen Advanced allograft, InterGro DBM, and PlatFORM bioresorbable bone graft substitute.

Related Press Release@ Orthopedic Regenerative Surgical Products Market Report

Orthopedic Regenerative Surgical Products Market Report Highlights

• Key factors driving the market include an aging population across the globe and a rise in the prevalence of orthopedic diseases. According to a 2019 review article published in the Elderly Health Journal, the prevalence of knee osteoarthritis in various Asian countries was found to be in a range of 13.1 - 71.1%
• The viscosupplements segment dominated the market and accounted for the largest revenue share of over 42.0% in 2021 owing to the increasing prevalence of osteoarthritis and related symptoms and product availability
• Monovisc and Orthovisc by Anika Therapeutics are the leading products in the viscosupplement market in the U.S. since 2018, based on combined overall revenue
• In terms of application, the cartilage and tendon repair segment is estimated to witness the fastest CAGR of 4.1% owing to growing applications in sports medicine, geriatric patients, and the incidence of trauma cases
• According to a 2019 study on Cartilage Restoration Surgery published by the National Library of Medicine, complications in cartilage restoration procedures have been rising for the past 2 decades. The results also indicated a paradigm shift toward osteochondral grafting procedures and other more complex cartilage procedures
• As most orthopedic procedures are performed within hospital settings, the hospitals segment held the largest revenue share of over 49.0% in 2021
• Drivers include a large number of populations affected by joint pain and other debilitating orthopedic conditions and supportive initiatives by governments and regulatory bodies. For example, 12 October was established as the World Arthritis Day by the Arthritis and Rheumatism International (ARI)to raise awareness about rheumatic and musculoskeletal diseases
• Market players are involved in the implementation of strategic initiatives, including R&D, product development and launches, regional expansion, and expansion of distribution network
• In January 2021, Stryker acquired OrthoSensor, Inc., a private company that specializes in musculoskeletal care and sensor technology 

The global Remote Patient Monitoring System Market size is expected to reach USD 6.7 billion by 2030, according to a new report by Grand View Research Inc. It is projected to register a CAGR of 20.2% from 2022 to 2030. COVID-19 pandemic has a significant impact on the remote patient monitoring system. The main drivers for this market are the increasing geriatric population, cost-effective treatment, and the rising prevalence of chronic conditions. The breakout of Covid-19 has propelled the demand for remote patient monitoring devices and services as healthcare facilities were burdened with Covid-19 infected patients. Key players like Smiths Medical reported that the demand of their home monitoring devices substantially increased during the pandemic. 

The amalgamation of telehealth with remote patient monitoring services is expected to further boost market growth. Asia Pacific is also projected to be a key revenue generator in the coming years. The region is backed by developing countries such as China, South Korea, and Thailand which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. The remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases. 

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Remote Patient Monitoring System Market Report Highlights

• The cardiac rhythm monitor segment is expected to witness a significant CAGR over the forecast period owing to the increasing incidence of cardiac conditions globally
• The home healthcare segment is projected to witness a CAGR of 22.0% over the forecast period owing to a rise in the number of patients accessing remote monitoring due to the COVID-19 pandemic
• In Asia Pacific, the market is expected to showcase high growth potential due to the presence of large unmet needs in emerging economies such as China and India
• This region is also backed by Japan, which has one of the highest numbers of 65+ year old adults at a global level

The global Skincare Devices Market size is expected to reach USD 34.3 billion By 2030, registering a CAGR of 11.9%, according to a new report by Grand View Research, Inc., An increasing number of skin-related disorders such as cancer and assorted disorders are likely to increase the adoption rate of these devices.

Rising use of home-care products and growing medical spa treatments are some of the key trends stimulating market growth. Some of the key factors that are driving growth are technological advancements, growing appearance consciousness, and rising disposable income.

Growing awareness regarding the benefits of skin rejuvenation amongst patients, rising demand for aesthetics, and increasing incidence of skin disorders are among the primary growth stimulants. Syneron Medical, a U.S.-based company, is one of the biggest players in the skin rejuvenation market. Its product is known as VelaSmooth which has been approved by the U.S. FDA.

The market is projected to witness significant growth over the forecast period, owing to the rising prevalence of skin diseases. Technological advancements, extremely effective devices, and increasing acceptance of these devices as they are non-invasive, are some of the factors escalating the growth of the market.

Furthermore, surging demand for processes such as liposuction, body contouring, skin rejuvenation, and tightening is anticipated to accelerate the growth of the market. However, equipment cost and competitive pricing are limiting the market from realizing its utmost potential.

Related Press Release@ Skincare Devices Market Report

Skincare Devices Market Report Highlights

• Cellulite reduction was the largest segment in 2014 owing to its wide acceptance and usage globally
• The body contouring and skin tightening segment is expected to witness the fastest growth over the forecast period due to the rising demand for aesthetic procedures
• North America was the largest region in 2016 owing to technological advancements, well-established infrastructure, and the presence of high-income buyers
• Asia Pacific is likely to be the fastest-growing region owing to the availability of cost-effective devices and rising disposable income
• Some of the prominent players of the market are Syneron Medical Ltd; Philips; Solta Medical Inc.; Alma Lasers Ltd; Schick Medical; Lumenis Ltd.; and PhotoMedex. The key players are engaging in different marketing strategies to increase their market shares.

The global Metal 3D Printing Market size is expected to reach USD 22.60 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.9% from 2022 to 2030. Metal 3D printing is also referred to as Additive Manufacturing (AM) as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of metal and the unnecessary metal is ground out to obtain the desired object.

The metal 3D printing industry is estimated to exhibit significant growth throughout the forecast period owing to a combination of numerous factors such as the growing demand for rapid prototyping, which allows the manufacturers to design and develop better products and systems. Additionally, the ease of manufacturing and added benefits offered by the 3D printing technology are again major factors behind the greater adoption of the technology across various industry verticals.

Metal 3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The automotive vertical happens to be the most significant adopter of the metal 3D printing technology and eventually leading to the largest market share of metal 3D printers for industrial applications. Additive manufacturing is anticipated to evolve over the forecast period.

The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India, machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software.

The metal 3D printing technology happens to be a capital-intensive technology. At the same time, manufacturers are holding misconceptions about prototyping rather than realizing the advantages associated with metal 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for metal 3D printing. These are some of the factors that are expected to restrain market growth. However, government initiatives aimed at increasing awareness and promoting the benefits of adopting metal 3D printers are expected to help in countering the market restraints.

Related Press Release@ Metal 3D Printing Market Report

Metal 3D Printing Market Report Highlights

• North America accounted for the largest revenue share in 2021 owing to the technology’s early and greater adoption rate. The region is predicted to witness steady growth over the forecast period as the U.S. emerged as the highest revenue generating country in 2021
• Increasing adoption of metal 3D printers in the healthcare, automotive, and consumer electronics verticals is likely to drive the market significantly
• Asia Pacific, which is emerging as a manufacturing hub for several industry verticals, is expected to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt metal 3D printing, particularly in countries, including China, Japan, and South Korea

The global 3D Printing Construction Market size is expected to reach USD 4,986,793.7 thousand by 2030, registering a CAGR of 100.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising awareness about 3D printing techniques in the construction industry and the significant increase in green construction projects globally. Various benefits offered by this technology, including increased construction speed, reduction in waste, on-site accidents& overall costs, and flexibility in creating complex architectural shapes, are also driving its adoption in the construction industry. The funding received by the 3D printing construction providers from the respective governments for developing space-based construction systems is expected to create new opportunities for market growth in the coming years.

For instance, in October 2020, ICON Technology, Inc. announced that it had been awarded a government contract called Small Business Innovation Research (SBIR) and funding from NASA to conduct a space-based construction project called “Project Olympus” on the moon. In this project, ICON Technology, Inc. partnered with BIG and SEArch+, a company specialized in space exploration, to develop lunar structures from the available material on the moon. In addition, the use of this technology in the construction industry can reduce the number of laborers required on-site, which can eventually resolve the labor shortage problem, particularly in countries where the industry is heavily dependent on migrant workers.

However, the technology may not be favorable for countries where the construction industry is a key employer and labor is less expensive. Moreover, individuals using specialized 3D construction printers require proper training, which could add to the overall cost of a project. The outbreak of the COVID-19 pandemic negatively impacted the market growth as supply chains were disrupted and several construction projects were stalled due to the lockdowns imposed by various governments across the globe. Construction companies rely on the supply of equipment and raw materials from their suppliers. However, as several governments restricted the movement of goods locally and across the border, companies had to halt their construction activities, given the stalled supply of raw materials and equipment.

Related Press Release@ 3D Printing Construction Market Report

3D Printing Construction Market Report Highlights

• The extrusion segment led the global market in 2021 and is expected to witness the fastest CAGR over the forecast period due to the introduction of extrusion-based 3D printers
• The concrete material type segment is expected to witness the fastest CAGR over the forecast period
• The segment growth can be attributed to a rise in the demand for 3D-printed concrete formwork as it requires less-skilled workers than conventional concrete construction
• The building end-user segment dominated the market in 2021 and is expected to show a similar trend during the forecast period due to the growing need for houses globally
• The Asia Pacific regional market is expected to witness the fastest CAGR from 2022 to 2030 due to rapid industrial expansion and development in the emerging economies

The global Gallium Nitride Semiconductor Devices Market size is expected to reach USD 12.47 billion by 2030, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 24.4% from 2022 to 2030. The growing demand for fast chargers used in various consumer electronics applications worldwide is expected to drive the market. Various smartphone companies such as Apple and Samsung are making efforts to develop fast chargers to enhance their customer experience and gain a competitive edge.

The companies providing GaN Radio Frequency (RF) are continuously improving their product offerings, thereby driving the market. For instance, in December 2021, Microchip Technology Inc., a microcontroller manufacturer, announced the expansion of its GaN RF power device portfolio with new discrete transistors and MMICs. The devices combine high linearity and high power-added efficiency to deliver enhanced performance in satellite communications, electronic warfare, test equipment, and commercial and defense radar systems.

The enhanced-mode version of GaN is widely used in the development of space applications and this is further driving the market. The demand for commercial GaN power devices is high among businesses as these devices offer high performance compared to traditional silicon technology-based Rad Hard devices. GaN power devices are used in applications such as drones, satellites, spacecraft, and robotics.

The COVID-19 pandemic adversely affected the GaN semiconductor devices market in 2021. This can be attributed to the semiconductor shortage witnessed by various automotive companies. Automakers such as Ford and General Motors reduced the production of some of their models in 2021 due to the shortage of semiconductor chips.

Related Press Release@ Gallium Nitride Semiconductor Devices Market Report

Gallium Nitride Semiconductor Devices Market Report Highlights

• The GaN radio frequency devices product segment is anticipated to expand at the highest CAGR over the forecast period. The segment growth can be attributed to the growing demand for these products from the military for applications such as Electronic Warfare (EW) systems and Active Electronically Steered Array (AESA) radars
• The automotive end-use segment is expected to witness significant growth over the forecast period. The growing popularity of autonomous vehicles is boosting the demand for LiDAR sensors in driverless navigation systems, in turn, fueling the segment growth
• The Asia Pacific regional market is expected to emerge as the fastest-growing market over the forecast period owing to the surge in the demand for efficient and high-performance RF components and the surge in electric vehicle production in countries such as China, Japan, and South Korea
• The rectifier component segment is anticipated to expand at the highest CAGR over the forecast period. The increasing use of rectifiers across automotive electric, consumer electric, household appliances, and other industries is expected to drive the segment over the forecast period
• The 6-inch wafer size segment is anticipated to expand at the highest CAGR over the forecast period. The increasing demand for 6-inch wafers for electric vehicles is expected to drive the segment

The global Metals In Electric Vehicle Charging Infrastructure Market size is expected to reach USD 12.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 28.2% from 2022 to 2030. The surging demand for Electric Vehicles (EVs) across the world has augmented the need for charging infrastructure, which is expected to propel the consumption of metals over the forecast period. According to the International Energy Agency (IEA), consumer expenditure on EVs exceeded USD 120 billion in 2020. Moreover, various initiatives by governments around the world aimed at the mitigation of carbon emissions have led to the increase in the production of EVs.

For instance, according to IEA, in 2020 more than 20 governments had declared bans on conventional automobiles or mandated to sell only zero-emission vehicles over the near future. Increasing emphasis on the adoption of EVs is influencing the installation of commercial charging stations. Also, initiatives by various automotive manufacturing giants for developing EV charging infrastructure network is being witnessed. For instance, companies like Tesla and Nissan are increasing their R&D activities for the development of fast-charging networks. This, in turn, is anticipated to boost demand for metals over the forecast period.

Based on metals, others segment including silver and other alloys accounted for the largest revenue share in 2021. Silver is mostly used in the production process of EVs and chargers. With the growing demand for EVs, the need for silver has increased thereby leading to segment growth. Region-wise, Asia Pacific accounted for the largest share, in terms of revenue, in 2021. Policies such as gradual phase-out, high emission requirements, increased fuel economy standards, and distribution of a number of direct subsidies have been among the important factors contributing to the surge in the sales of EVs in the region. This is anticipated to invite investments in charging infrastructure, thereby, propelling demand for metals.

The market is competitive in nature owing to the presence of numerous players. Key global players include Rio Tinto, Alcoa Corporation, Glencore, RusAL, and Codelco. These players concentrate on several factors including regional expansion, research, and new product development to stay ahead of their competitors.

Related Press Release@ Metals In Electric Vehicle Charging Infrastructure Market Report

Metals In Electric Vehicle Charging Infrastructure Market Report Highlights

• Growing global demand for electric mobility is expected to fuel the requirement of EV stations. This, in turn, is anticipated to contribute to the growth of metals over the forecast period
• Based on metals, the copper segment is the anticipated to register fastest growth rate of 30.6%, over the forecast period. The metal is extensively used in cables, transformers, and wiring of charging infrastructure
• The commercial segment accounted for the largest revenue share of over 79.0% in 2021. Rising efforts from the government as well as the automotive manufacturers to set up EV stations is propelling segment growth
• Based on region, Asia Pacific held the highest revenue share of over 55.0% in 2021. For example, electric car sales were 35.0% more in Japan in January 2021 than in January 2020. The growing demand for EVs in the country is expected to lead to the development of EV charging infrastructures in Japan, thereby leading to market growth
• Electric vehicle mass adoption is expected in the coming years, which will be driven mostly by regulatory incentives, climate crisis mitigation strategy, technology breakthroughs in electric space, and rising disposable incomes. However, widespread adoption of electric vehicles is dependent on the availability and affordability of raw materials that are needed to achieve this transformation

The global Powered Air Purifying Respirators Market size is anticipated to reach USD 3.81 billion by 2030, registering a CAGR of 6.1% over the forecast period, according to a new report by Grand View Research, Inc. Favorable government regulations about employee safety and the emergence of various infectious biohazards are anticipated to drive the demand for powered air purifying respirator (PAPR). The rising awareness levels about employee health and safety, coupled with the increasing cases of industrial fatalities, are anticipated to spur market growth over the forecast period. Safety standards by regulatory agencies, such as the Occupational Safety and Health Administration (OSHA) and the European Commission, are expected to fuel the growth of PAPR industry over the forecast period.

The omicron COVID-19 variant is responsible for spreading COVID-19 rapidly, specifically among the healthcare workers and first-respondents that are actively confronting the pandemic situation. Thus, to avoid the spread of the virus, several government authorities across the globe have recommended the use of proper personal protective equipment (PPE) including PAPRs. The emergence of biological viruses, such as Zika and Middle East Respiratory Syndrome, and the shifting trend towards proactive measures in the pharmaceutical sector are expected to drive the product demand over the forecast period. Rising demand for multi-purpose products is expected to drive the R&D of efficient & durable PAPRs for preventing the spread of biological hazards.

Rapidly growing industries, such as automotive, metal forming, manufacturing, glass making, paper & pulp, particularly in the developing regions like Asia Pacific and Central & Latin America, are anticipated to increase the demand for respiratory protective equipment, including PAPR, to guard their employees against inhalation of vapors, particulate matter, and gases. Companies are focusing on increasing their manufacturing of these products to eliminate the shortage of PPE products across the globe. For instance, in April 2020, ILC Dover LP boosted their production process of a new PAPR hood named Sentinel EZ BioHood, designed for healthcare workers attending to COVID-19 infected patients.

Related Press Release@ Powered Air Purifying Respirators Market Report

Powered Air Purifying Respirators Market Report Highlights

• The full-face masks segment accounted for a share of more than 51% of the global revenue in 2021 owing to the optimum protection provided by these products to healthcare workers as they include vapor filters, gas filters, and particle filters
• The penetration of PAPR in the healthcare industry is expected to witness a significant from 2022 to 2030 on account of its ability to provide a higher Assigned Protection Factor (APF) than reusable elastomeric half facepiece respirators and N95 FFRs
• North America region held the largest revenue share of the global market in 2021 because stringent norms are enforcing employers in the region to adopt powered air-purifying respirators to ensure the safety of their employees
• The product demand in India is likely to grow at a CAGR of 8.5% over the forecast period on account of the rising awareness regarding health hazards and diseases caused due to exposure to harmful particulates at workplaces
• Market players are investing in R&D activities for the development of innovative products. For instance, in June 2021, Optrel AG launched Softhood, a PAPR system hood, based on the principle of overpressure, for breathing and face protection in a dusty environment

The global Iot Microcontroller Market size is projected to reach USD 12.94 billion by 2030, registering a CAGR of 12.7% from 2022 to 2030, according to a new study by Grand View Research Inc. Increase in adoption of smart home devices integrated with mobile applications and advancements in low power Microcontroller (MCU) are expected to drive the market growth. The surge in the number of enterprise IoT connections across industries such as manufacturing, healthcare, and energy and power is also expected to drive the growth of the market over the forecast period.

Advancements in short-range wireless connectivity such as Zigbee, Bluetooth, and KNX technologies, notably in Europe and North America also expected to drive IoT adoption over the next few years. Advancements in disruptive technologies such as big data analytics, Artificial Intelligence (AI), and industrial IoT are further expected to propel the adoption of IoT-connected devices. Increasing investments through funding in start-ups such as Hypervolt, HIXAA, SmartRent, and other SMEs that help to gain new IoT-based projects in industries likely to create the need for a high-performance, low-power IoT MCUs market over the forecast period.

Key IoT MCU manufacturers such as RENESAS Electric Corporation, NXP Semiconductors, and STMicroelectronics are innovating high-performance MCUs to meet the demand. For instance, in 2022, Renesas Electric Corporation launched the 32-bit RA Family of microcontrollers (MCUs). The launched product is based on the Arm Cortex-M23 core, which offers shallow power consumer MCUs developed explicitly for IoT endpoint applications, including industrial automation, medical devices, intelligent home appliances, and wearables.

The COVID-19 outbreak positively impacted the IoT MCU market in 2020. Government-imposed restrictions and stay-at-home mandates increased the demand for smart wearables, including fitness trackers, health-based wearables, and other consumer IoT devices. Due to a sudden increase in demand for consumer IoT devices and a temporary halt of production units, the market experienced a shortage of MCUs in 2021, creating an imbalance in supply and demand. In light of these factors, device manufacturers are expected to hike the connected product prices in 2022, which is likely to continue until 2023. 

Related Press Release@ IoT Microcontroller Market Report

IoT Microcontroller Market Report Highlights

• 32-bit captured more than 40% market share of the overall IoT MCU market in 2021, with the market size expected to register a CAGR exceeding 13% over the forecast period. An increase in the adoption of smart utilities and industrial robotics is expected to drive market growth over the forecast period
• By 2030, the wearables segment is expected to surpass USD 700 million with a CAGR exceeding 13%. It is ascribed to increasing awareness for health and fitness among individuals, significantly contributing to the adoption of wearable technology, supporting market growth
• Asia Pacific led the market in 2021, a trend expected to continue over the mid-term. The regional CAGR is expected to exceed 13.6% from 2022 to 2030. Adding to this, increasing government initiatives to develop innovative and connected infrastructure signifies market growth

The global Iot Microcontroller Market size is projected to reach USD 12.94 billion by 2030, registering a CAGR of 12.7% from 2022 to 2030, according to a new study by Grand View Research Inc. Increase in adoption of smart home devices integrated with mobile applications and advancements in low power Microcontroller (MCU) are expected to drive the market growth. The surge in the number of enterprise IoT connections across industries such as manufacturing, healthcare, and energy and power is also expected to drive the growth of the market over the forecast period.

Advancements in short-range wireless connectivity such as Zigbee, Bluetooth, and KNX technologies, notably in Europe and North America also expected to drive IoT adoption over the next few years. Advancements in disruptive technologies such as big data analytics, Artificial Intelligence (AI), and industrial IoT are further expected to propel the adoption of IoT-connected devices. Increasing investments through funding in start-ups such as Hypervolt, HIXAA, SmartRent, and other SMEs that help to gain new IoT-based projects in industries likely to create the need for a high-performance, low-power IoT MCUs market over the forecast period.

Key IoT MCU manufacturers such as RENESAS Electric Corporation, NXP Semiconductors, and STMicroelectronics are innovating high-performance MCUs to meet the demand. For instance, in 2022, Renesas Electric Corporation launched the 32-bit RA Family of microcontrollers (MCUs). The launched product is based on the Arm Cortex-M23 core, which offers shallow power consumer MCUs developed explicitly for IoT endpoint applications, including industrial automation, medical devices, intelligent home appliances, and wearables.

The COVID-19 outbreak positively impacted the IoT MCU market in 2020. Government-imposed restrictions and stay-at-home mandates increased the demand for smart wearables, including fitness trackers, health-based wearables, and other consumer IoT devices. Due to a sudden increase in demand for consumer IoT devices and a temporary halt of production units, the market experienced a shortage of MCUs in 2021, creating an imbalance in supply and demand. In light of these factors, device manufacturers are expected to hike the connected product prices in 2022, which is likely to continue until 2023. 

Related Press Release@ IoT Microcontroller Market Report

IoT Microcontroller Market Report Highlights

• 32-bit captured more than 40% market share of the overall IoT MCU market in 2021, with the market size expected to register a CAGR exceeding 13% over the forecast period. An increase in the adoption of smart utilities and industrial robotics is expected to drive market growth over the forecast period
• By 2030, the wearables segment is expected to surpass USD 700 million with a CAGR exceeding 13%. It is ascribed to increasing awareness for health and fitness among individuals, significantly contributing to the adoption of wearable technology, supporting market growth
• Asia Pacific led the market in 2021, a trend expected to continue over the mid-term. The regional CAGR is expected to exceed 13.6% from 2022 to 2030. Adding to this, increasing government initiatives to develop innovative and connected infrastructure signifies market growth

The global Peer-To-Peer Electric Vehicle Charging Market size is expected to reach USD 644,982.3 thousand by 2030, registering a CAGR of 22.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The rising demand for electric vehicles worldwide has encouraged an increase in the number of peer-to-peer electric vehicle charging stations installed across the globe to address the range anxiety issues associated with electric vehicles. Moreover, rising awareness among users to use green transportation modes is also expected to propel the adoption of electric vehicles, which is likely to contribute to the market growth over the forecast period.

Several governments across the globe have mandated space allocation for EV charging infrastructure in the parking spaces of residential complexes, which is expected to create new growth opportunities for the market. For instance, in June 2019, the Government of India, under the new guidelines of the housing and urban development ministry, mandated that the residential and commercial complexes across India would allocate 20% of their parking space for electric vehicle charging facilities. Such factors are expected to create growth opportunities for the market over the forecast period.

Many companies are partnering with electric car manufacturers to provide a seamless charging experience to customers. For instance, in March 2021, ChargePoint announced its partnership with Polestar cars, a Swedish company that manufactures electric vehicles. Under this partnership, Polestar drivers would have access to over 100,000 ChargePoint charging points and additional charging spots made possible through roaming agreements with other major charging networks in North America.

The COVID-19 pandemic is expected to trigger the sales of automobiles, including electric cars, as consumers would prefer traveling in personal vehicles to avoid exposure to the virus in public transport. Initiatives such as protection against job losses, deferred payments, and benefits offered by finance companies, such as 0% financing, are also expected to encourage the adoption of electric vehicles and subsequently trigger the demand for EV charging stations. Thus, the COVID-19 outbreak is positively impacting the market growth.

Related Press Release@ Peer-To-Peer Electric Vehicle Charging Market Report

Peer-To-Peer Electric Vehicle Charging Market Report Highlights

• The level 1 charger segment is anticipated to register significant growth owing to the increasing number of multi-unit dwellings installing level 1 charging stations
• The commercial segment is projected to register the highest CAGR over the forecast period owing to the increasing focus of companies such as The Coca-Cola Company and General Motors on making EV charging stations at their facilities open to the public
• The increasing adoption of smart city initiatives to boost the adoption of electric vehicles in emerging economies, such as China and India, is expected to create growth opportunities for the market in the Asia Pacific region over the forecast period

The global Filters Market size is expected to reach USD 112.87 billion by 2030, registering a CAGR of 5.1% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand from the automobile industry for the reduction of emission levels, owing to the regulations by several agencies, such as the U.S. Environment Protection Agency (EPA) and the Department of Energy, is expected to drive the market over the forecast period. The market is expected to witness significant growth owing to the rapid growth in the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of their water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.

The increasing concerns regarding clean air are also anticipated to support the air filtration industry growth over the forecast period. Increasing disposable income levels, rapid urbanization, and growing health concerns have resulted in people investing significantly in air purifier systems for domestic use. This shift in consumer behavior is expected to positively impact the market growth over the forecast period. The industry has a large number of established players controlling a significant market share. Key players are focused on R&D activities for the development of new products and services to enhance their service offerings, thereby attaining business growth in the market.

Related Press Release@ Filters Market Report

Filters Market Report Highlights

• The air filters segment is expected to witness the fastest growth rate from 2022 to 2030 on account of the high product demand in air filtration devices, such as air purifiers
• The motor vehicles application segment dominated the market in 2021 and is expected to reach remain dominant throughout the forecast period
• This growth can be credited to the rapid growth in the automobile industry and wide product usage for the reduction in fuel consumption levels
• Asia Pacific is estimated to witness the fastest CAGR from 2022 to 2030 owing to the growing product demand in industries, such as chemicals, power generation, metal processing, and cement, for the reduction in emission of Greenhouse Gases (GHG)
• The demand was hampered owing to the global outbreak of the COVID-19 pandemic in 2020. Lockdowns in major countries led to a temporary closure of various industries and automobile production units, to limit the spread of the virus
• The companies are emphasizing the development of new sustainable products for offering improved efficiency and better value to the customers
• Extending products and service offerings to customers is also one of the primary strategies employed by the companies