Latest Industry Insights

The global Industrial Hemp Market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 16.8% over the forecast period, according to a new report by Grand View Research, Inc. The rising product demand from industries, such as agriculture, textiles, personal care, recycling, furniture, food & beverage, paper, and construction materials, is projected to propel market growth. Hemp is increasingly being used in medicinal products and nutritional supplements. The high nutritional values and beneficial fatty acid and protein profile of hemp are driving the demand for hemp products in the market. In addition, hemp oil is used in shampoos, soaps, lotions, bath gels, and other cosmetics, further benefiting the industry growth.

The strength to weight ratio, high tensile strength, and flexural strength of industrial hemp offer desired benefits in bio-composites for automotive parts, fiberboard, aerospace, and packaging. Furthermore, the product demand from the textile, paper, and building materials markets is growing on account of its favorable acoustic and aesthetic properties. The rising demand for eco-friendly products in construction materials, fiberglass alternatives, thermal insulation, and automotive products is expected to promote market growth. The growing demand for technical products, such as varnishes, oil paints, fuel, solvents, chain-saw lubricants, printing inks, putty, and coatings, is expected to have a positive impact on the market growth.

Related Press Release@ Industrial Hemp Market Report

Industrial Hemp Market Report Highlights

• The seeds product segment accounted for the maximum revenue share in 2021 owing to the increased product usage in nutritional supplements &medicinal and therapeutic products, such as pharmaceuticals
• The product demand in the personal care industry is anticipated to grow at the fastest CAGR from 2022 to 2030 as it increases the skin’s natural ability to retain moisture
• The animal care segment also accounted for a significant revenue share in 2021 on account of the high demand for hemp shivs and leaves in animal bedding as their low dust properties make it highly preferable for animals having respiratory issues
• The market for industrial hemp in North America is expected to grow at the fastest CAGR from 2022 to 2030 owing to the legalization of hemp production coupled with the technological advancements in harvesting and use of hemp fiber and hurds
• Asian countries, such as China, have a significant tradition of hemp production and exports, which has allowed these countries to dominate the global market

The global Connected Health And Wellness Solutions Market size is expected to reach USD 187.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.6% from 2022 to 2030. The demand for wearable medical devices and remote patient monitoring systems is anticipated to increase over the forecast period due to the shifting consumer preferences towards a healthier lifestyle thus driving the market growth. In addition, the increasing incidences of lifestyle-associated diseases requiring continuous health monitoring are expected to lead to an upsurge in the demand for connected health devices over the forecast period.

Moreover, the advantages associated with its usage and the availability of advanced products, such as remote sensors, adapters, and connected mobile communication devices are the factors further augmenting the market growth. The implementation of connected health technology is growing at an astonishing rate, propelled in part by consumer demand, innovations in wearables and medical devices, and the current healthcare climate in the post-COVID-19 era. In August 2020, Validic, a provider of health data platforms and solutions for scaling remote patient monitoring, released the main update to ‘Validic impact’, its remote patient monitoring solution. This innovative standalone form of Validic Impact needs no EHR integration and can be used as an entirely standalone solution.

In addition, the corporation introduced a COVID-19 rapid response solution that allowed clinicians and HR administrators to register thousands of individuals using self-reported data and alerts to monitor COVID-19 symptoms. Consequently, the COVID-19 has given a push for businesses to quicken the adoption of these services. Moreover, the rising demand for greater access to patient health information is the key factor contributing to the market growth. Furthermore, the increased awareness levels as a result of the supportive initiatives undertaken by government and non-profit organizations, such as the Healthcare Information and Management Systems Society (HIMSS), are anticipated to serve this industry with future growth opportunities.

The rising emphasis on the development of advanced healthcare solutions coupled with the sufficient availability of funds is expected to boost the R&D investments in the connected health & wellness devices market. For instance, the government organizations, such as Healthcare Research and Quality (AHRQ), offer funds to expand the health information systems in the U.S., which is expected to further fuel the industry growth in this region.

Related Press Release@ Connected Health And Wellness Solutions Market Report

Connected Health And Wellness Solutions Market Report Highlights

• The software & services dominated the market in 2021 owing to associated benefits, such as rising online subscriptions and downloading of health information because of the increased health consciousness
• The wellness products segment is expected to grow at the fastest CAGR from 2022 to 2030 due to technological advancement in products, various awareness campaigns regarding physical wellbeing, and increased awareness about the benefits of following a healthy lifestyle
• Telehealth dominated the function segment in 2021 owing to its growing usage and adoption. In addition, the COVID-19 pandemic allowed the adoption of this technology at a larger scale among providers
• Hospitals & clinics dominated the end-user segment in 2021 owing to the increased implementation of digital health technologies by these settings. Moreover, hospitals & clinics are investing in remote patient monitoring technologies as part of a value-based care model, which further boosts segment growth
• Asia Pacific is anticipated to register the fastest CAGR over the forecast years owing to the government assistance coupled with increasing patient awareness levels and improving healthcare infrastructure
• Key players operating in this market are focusing on the development of cost-efficient & technologically advanced devices, which offer comfort to the users. New product development and strategic alliances including partnership agreements, promotional activities, and acquisitions are instrumental in keeping market rivalry high
• For instance, in April 2021, Medtronic proclaimed the inauguration of its state-of-the-art Medtronic Engineering and Innovation Center in India. This is going to be the largest R&D center outside the U.S.

The global Healthcare Contract Research Organization Market size is expected to reach USD 74.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2022 to 2030. The increasing cost of drug development is expected to drive market demand over the forecast period. Also, rising clinical trial costs and challenges pertaining to patient recruitment have led biopharmaceutical companies to turn to regions like Central and Eastern Europe, Asia Pacific, Latin America, and the Middle East for cost savings and quick patient recruitment.

In addition, growing pressure on industry players to follow stringent timelines has increased the demand for outsourcing research activities to CROs. Some government organizations are also outsourcing their clinical trial activities so that they can carry out clinical trials with the required infrastructure, expertise, and minimize their cost and timelines. The CRO market was temporarily affected by the ongoing pandemic, as it led to the closure of clinical trial sites.

However, owing to the significant demand for treatments, the clinical trial sites were reopened with certain measures and precautions to avoid the spread of the virus. Moreover, the worldwide focus on finding a vaccine against coronavirus has had a significant impact on the development of vaccines & drugs for COVID-19. This is expected to have a positive impact on the market. Owing to the pandemic, the players of the CRO market built powerful tools to support virtual clinical trials, so as to assist sponsors of the trials. Such actions are likely to improve market growth.

Related Press Release@ Healthcare Contract Research Organization Market Report

Healthcare Contract Research Organization Market Report Highlights

• Based on type, the clinical segment has dominated the market in 2021, with the largest share of 76.4%, owing to the fact that it comprises four elaborate phases, including human subjects. The significant demand for new treatments has further contributed to the growth of the segment
• Among services, the clinical monitoring segment was the largest in terms of both the market share and revenue in 2021
• North America held a significant market share of 25.3% in 2021 due to the presence of several global players, who invest a major part of their revenue in research activities
• In Asia Pacific, the market is anticipated to witness lucrative growth of 8.0% over the forecast period due to the reduced cost it offers in comparison to the U.S and other developed economies
• China, Japan, and India are projected to witness tremendous growth in the market over the forecast period owing to high disease prevalence in these countries

The global Digital Therapeutics Market size is anticipated to reach USD 32.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a lucrative CAGR of 26.1% from 2022 to 2030. Key factors driving the market growth include high demand due to the COVID-19 pandemic, various supportive regulatory initiatives & early signs of reimbursements, increasing smartphone penetration in developed & developing countries, and the growing prevalence of chronic disorders. Moreover, the cost-effectiveness of digital health technology for providers & patients and increasing demand for integrated healthcare systems & patient-centric care are estimated to boost the market growth.

The COVID-19 pandemic catalyzed the adoption of digital therapeutics solutions. Teladoc reported that telehealth usage grew by about 38 times since pre-pandemic. The adoption of these solutions was further supported by supportive initiatives by key regulatory bodies, such as the FDA. For instance, the U.S. FDA released guidelines in April 2020 to expand the availability of digital health therapeutic devices for psychiatric patients. As per Kepios, globally, the number of internet users is growing at an annual rate of 7.6%, i.e., an average addition of 900,000 new users every day. While developed and certain developing economies have high smartphone and internet penetration, countries in regions, such as Africa and South Asia, are lagging due to their less advanced economies.

With a modest user base, Africa’s smartphone market is expected to grow due to the advent of affordable handsets in the country. These handsets are priced under USD 100 per unit and are gaining popularity. The need for cost-effective healthcare is increasing due to the growing healthcare expenditure. The rising incidence of chronic diseases has led to an increase in healthcare costs. This has affected economic growth in developing and developed economies. To promote cheaper and alternative means of healthcare delivery, digital health technologies are being encouraged to help avoid added costs. The ease of usage of mHealth apps and their consistent performance can help improve health outcomes of individuals and communities, which is anticipated to have a positive impact on market growth.

Related Press Release@ Digital Therapeutics Market Report

Digital Therapeutics Market Report Highlights

• The diabetes application segment dominated the market in 2021 due to the high prevalence of diabetes
• The patients' end-user segment held the maximum revenue share in 2021 owing to the high adoption of digital therapeutic solutions by patients
• In 2021, North America was the dominant regional market owing to the increased use of digital health products and favorable reimbursement scenarios that focus on improving quality of life through improved tracking & diagnostics

Asia Pacific region is expected to register the fastest CAGR over the forecast period owing to the growing demand for personal care devices and related services

The global Cleanroom Robots In Healthcare Market size is expected to reach USD 2.69 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.4% from 2022 to 2030. The growing adoption of robots in cleanroom settings, product innovations catering to the market trends, and increased demand for robotic automation in pharmaceutical manufacturing are some of the key factors contributing to the market growth. Robots help in avoiding the risk of contamination in cleanrooms, especially during drug manufacturing procedures.

The collaborative robots type segment is likely to witness the fastest growth during the forecast period due to the features such as rapid installation, cost savings, flexibility, and better safety around manufacturing units. The motors component segment is likely to grow at the fastest rate in the coming years as the robots are attached to the motors and provide a working mechanism to the robots for smoother functioning.

In pharmaceutical and biotechnology manufacturing settings, human operators are the source of contamination. As the risk of contamination is the most challenging factor, automated robots offer seamless operations by eliminating or decreasing manual interventions. The cleanroom technology proved to be useful while dealing with COVID-19 patients as it helped reduce the spread of the virus across the hospitals to a greater extent. Hospitals relied on cleanroom robots to protect the hospital staff.

In cleanroom settings, robots can perform repetitive tasks, enabling smoother operations without human intervention. The manufacturers in the cleanroom robots market are introducing innovative solutions to strengthen their market position. For instance, in February 2021, Epson Robots launched NuTec Tooling Systems, an architect of custom automation solutions to provide efficient, precise, and cost-effective robotics to the syringe manufacturing process. In November 2020, OEM in collaboration with the government agencies utilized a cost-effective procedure for manufacturing large quantities of syringes to fight COVID-19.

Related Press Release@ Cleanroom Robots In Healthcare Market Report

Cleanroom Robots In Healthcare Market Report Highlights

• Based on type, the traditional industrial robots segment held the largest share in terms of revenue in 2021 as they are extensively used in large manufacturing processes that rely on continuous assembly lines. They are mainly used in the drug manufacturing processes
• Based on component, the robotic arms segment dominated the market in terms of revenue share in 2021 as the robotic arms are essential for the seamless operations of the robots in cleanroom environments
• Based on end-use, the pharmaceuticals and medical devices segment held the largest revenue share in 2021 owing to the growing adoption by the manufacturing companies for contamination control
• The hospitals and diagnostics end-use segment is likely to grow at the fastest rate over the forecast period. The cleanroom technology was used in the hospitals to control the spread of COVID-19
• In 2021, North America dominated the market in terms of revenue share owing to the growing adoption of robotics and artificial intelligence-based solutions in the healthcare sector. In addition, a rise in COVID-19 cases in the region contributed to the market growth
• Asia Pacific is anticipated to register a significant growth rate from 2022 to 2030 owing to the increase in the number of healthcare providers, high unmet needs, improving healthcare infrastructure

The global Microcontroller Market size is expected to reach USD 41.6 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.8% from 2022 to 2030. Globally, more than 27 billion units of microcontrollers were shipped in 2021. The market growth is attributed to the increasing focus on automation and artificial intelligence across various verticals such as automotive and industrial. Increasing demand for embedded control systems in multifunctional devices such as vehicles, robots, medical devices, mobile radio, and residential appliances is also playing a principal role in the growth of the market.

However, the market has witnessed a downfall in revenue owing to the adverse effects of the COVID-19 pandemic. The leading companies such as Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, and STMicroelectronics have witnessed a significant fall in revenues in the first two quarters of 2020. However, as the lockdown restrictions are gradually getting lifted, manufacturing facilities across the globe are reopening with a limited workforce. Further, as the automotive and industrial factories worldwide are reopening, the demand for microcontrollers is expected to grow steadily from 2022 to 2030.

The rising need for agility and flexibility in the industrial ecosystem due to the reducing product lifecycles is expected to spur growth further. The consumer electronics segment has witnessed significant growth owing to innovative technological developments such as wireless sensing and connectivity, automation, along with the emergence of IoT ecosystems in homes. Furthermore, many players in the market are developing microcontrollers with state-of-the-art architecture to make them compatible with the devices that are having such technologies. Miniaturization of microcontrollers and the delivery of high performance with extremely low power usage are some of the key advantages that are offered by some of the new microcontroller units in the market.

The increased demand for devices supporting Ethernet and the Internet of Things (IoT) is also expected to favorably impact the demand for microcontrollers over the forecast period. The demand for microcontroller chips integrated with wireless interfaces, such as ZigBee, microcontrollers, and Bluetooth, has witnessed a considerable rise. Furthermore, the rising need for wireless sensor-based networks for the controlling and monitoring of systems has enhanced the interest of companies in implementing a combination of low-cost systems. Increasing focus on the implementation of energy-efficient solutions for both the discrete and process industries is anticipated to propel sustainable manufacturing in industrial automation for a more efficient process. Flexible production and asset management would also influence factory integration, offering high potential for automation and customized solutions among industrial applications.

Related Press Release@ Microcontroller Market Report

Microcontroller Market Report Highlights

• The 32-bit microcontroller is anticipated to emerge as the fastest-growing product segment over the forecast period owing to its ability to offer high computational power. Technological developments in the production of semi-autonomous and fully autonomous driving systems also require 32-bit microcontrollers, thus driving the product segment
• The consumer electronics and telecom application segment dominated the global market in 2021. The development of microcontrollers integrated with the Near-Field Communication (NFC), Bluetooth, and ZigBee, among other wireless interfaces is expected to positively impact the global market. The favorable regulatory scenario for the installation of smart grid systems is expected to boost microcontrollers’ demand over the forecast period
• Asia Pacific dominated the market in 2021. It is anticipated to witness significant demand, particularly in India and China, because of the availability of high-end luxury as well as economy vehicles. The increasing labor cost in China would result in the increasing automation of industrial processes, which is likely to propel the market demand over the projected period
• Factors such as the Brexit and U.S.-China trade war have led to declining market conditions. New American tariffs on Chinese goods and a slowdown in the Chinese economy are the major factors affecting the steady growth of the market

The global Customer Experience Management Market size is expected to reach USD 38.98 billion by 2030 and is expected to register a significant CAGR of 18.1% from 2022 to 2030, according to the new report by Grand View Research, Inc. The growing importance of understanding customer behavior and their preferences is driving various organizations and brands to provide the best service performance for modern customers in real-time.

Moreover, the growing use of Artificial Intelligence (AI) and its applications by organizations to communicate with their consumers is expected to boost the growth of the Customer Experience Management (CEM) market in the forthcoming years. Several brands and organizations are increasingly depending on customer experience management tools to determine customers’ requirements, which are perceived to be significant to sustain in this competitive market.

The continuous demand from customers for a personalized experience across several industries, such as IT, telecom, retail, and BFSI, is a key driving factor for the market growth. Customer experience management allows smooth connectivity between companies and customers for achieving the organizational goal as well as customer expectations. It blends customer satisfaction, loyalty, retention, and customer-centricity.

With the advancements in technology, consumers are using numerous devices to understand, evaluate, and finalize products. The digital transformation has helped consumers to demand a smooth experience while interacting with companies across multiple touchpoints and channels. Several organizations are highly involved in developing and restructuring their customer experience management through artificial intelligence and its applications to retain their customers and successfully position and reposition their brands and products.

Related Press Release@ Customer Experience Management Market Report

Customer Experience Management Market Report Highlights

• The popularity of speech analytics tools has grown with the increasing number of voice-enabled searches and call centers. Speech analytics enables enterprises to identify the areas of trends, opportunities, and concerns through calls. This will improve the agent’s performance, monitor compliance, streamline business processes, improve first call resolution, and enhance customer experience
• The mobile touchpoint market is anticipated to register a CAGR of 19.9% over the forecast period. The driving factor for the growth is the increased use of smartphones, which is empowering enterprises to develop mobile marketing strategies. Moreover, mobile CEM solutions enable mobile carriers to take part in building sustainable customer relationships via customer-initiated requests
• The cloud-based segment is expected to attain significant growth in terms of revenue by 2030, registering a CAGR of 20.3% over the forecast period. This technology offers low-cost integration of CEM systems within the existing environment. It is widely used across the end-use segment for its flexibility and scalability and will play a vital role in increasing the growth of this market
• The BFSI segment is expected to register the highest CAGR of 19.5% over the forecast period as these solutions and services provide quality standards and reduce internal inefficiencies in BFSI enterprises. The major factors included for driving the growth are increasing adoption of cloud-based deployment models and investments in advanced technologies to offer digital finance management assistance
• The Asia Pacific regional market is expected to register the highest CAGR of 19.9% over the forecast period. With huge presence of call centers, increasing trend of social media marketing, and growing emphasis on customer satisfaction across industries and sectors are driving factors for the growth

The global Content Delivery Network Market size is expected to reach USD 95.37 billion by 2030, registering a CAGR of 23.0% from 2022 to 2030, according to the new report by Grand View Research, Inc. The major factors expected to drive the market’s growth are rising demand for advanced technologies such as Augmented Reality (AR) and Artificial Intelligence (AI), increasing accessibility and affordability of mobile and broadband networks, reducing costs, and increasing demand for affordable smartphones and data plans, are giving the opportunities to the market players to launch advanced CDN solutions.

The increasing population and the advancements in network technologieslead to high content consumption, there by increasing the demand for efficient CDN solutions. Furthermore, the digitalization of the media andentertainment industry is boosting the overall market growth. However, data security and information privacy are likely to limit market growth. Several initiatives have been taken by the government in different countries to provide high-speed internet facilities in both rural and urban areas and also the recent improvements in internet speed have increased data consumption.

This has led to cause congestion and latency issues, and rise in internet traffic, and created massive growth in the demand for CDN solutions to provide efficient content delivery to the end users. This has a direct impact on the enterprises where daily operations and businesses depend on the delivery speed of the content, webpage performance, and the time taken for a webpage to load, by which they can strengthen their business. This has compelled organizations to utilize CDN solutions for driving process optimization and delivering better customer experience and service.

Related Press Release@ Content Delivery Network Market Report

Content Delivery Network Market Report Highlights

• The dynamic CDN segment is anticipated to register a significant CAGR over the forecast period. The CDN solution and content providers and media broadcasters are playing a vital role in empowering their customer base and revenue by considering network and delivery optimization, for the growth
• The web performance optimization segment is expected to register a CAGR of 23.1% over the forecast period due to the growing demand for Quality of Experience (QoE) and Quality of Service (QoS)
• The e-commerce segment is anticipated to register a significant CAGR of 22.9% from 2022 to 2030. As the online shopping spaces evolve, the companies want to ensure adequate website acceleration and enhanced security. Additionally, solution providers need to deliver a compelling web content experience for e-commerce websites and continue driving the growth
• The peer-to-peer service provider segment is expected to grow considerably at a significant CAGR from 2022 to 2030 due to the rising demand for network optimization, content acceleration, and media delivery
• Increasing volumes of online content due to extensive usage of various social media platforms necessitate peer-to-peer CDN solutions for network optimization and content delivery

The global Stroke Post Processing Software Market size is expected to reach USD 334.1 million 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. Stroke post processing software empowers physicians to make faster decisions related to stroke patients. The AI-powered software solutions enable earlier patient transfer processes. The adoption of AI-based stroke management solutions achieves better stroke treatment outcomes.

The COVID-19 pandemic impacted the market in the initial stage as many healthcare services were limited, as there were high risks of spreading the virus. However, the market conditions recovered faster due to the sensitive nature of the stroke. Due to the availability of guiding post-stroke management software, the frontline professionals are now capable of making better treatment-related decisions. Technological advancements have significantly increased the adoption of AI-driven stroke management software.

North America held the largest revenue share in 2021 due to factors such as the rising prevalence of stroke cases in the region and supportive R&D investments to improve healthcare infrastructure. Asia Pacific is anticipated to grow at the fastest rate over the forecast period owing to the rising awareness regarding stroke, growing R&D in manufacturing, and technological advancements in the region.

The growing use of artificial intelligence for the diagnosis and treatment of strokes is likely to bode well for the market. The development of newer solutions catering to patient data processing is likely to contribute to the market growth. The processed patient data can focus on a specific set of people at risk of developing diseases by identifying a disease pattern from the personalized data. Furthermore, the market players including the start-ups are relying on the implementation of strategies to attract investors. The market players can increase their outreach in developing countries by offering viable healthcare solutions, providing easier access to their products and services, and reducing digital challenges. 

Related Press Release@ Stroke Post Processing Software Market Report

Stroke Post Processing Software Market Report Highlights

• Based on the installation, the desktop segment held the largest revenue share in 2021 owing to the advantages offered by desktops such as higher flexibility, easier data backup, quick accessibility, and comparatively lower costs
• The mobile phones and tablets installation segment is anticipated to register the fastest CAGR from 2022 to 2030 as these portable devices offer convenient installation, user-friendly functions, and complete operational control. In addition, mobile phones enable effective communication and coordination among stroke specialists
• By modality, the MRI segment dominated the market in 2021 and is expected to expand at the fastest CAGR over the forecast period, as early diagnosis of stroke can reduce the patient’s chances of living with a disability and MRI offers a clear view of the changes in the brain by using magnetic fields and radiofrequency pulses
• On the basis of type, the ischemic stroke segment captured the largest revenue share in 2021 and is likely to exhibit the fastest CAGR during the forecast period, as stroke is the second leading cause of death worldwide. In addition, ischemic strokes account for around 87% of total stroke cases
• In terms of end-use, the hospitals and clinics segment led the market in 2021 and is anticipated to register the fastest CAGR from 2022 to 2030. Hospitals rely on AI solutions for the automated analysis of stroke data, enabling faster decision-making for the treatment

The global Anti-acne Dermal Patch Market size is expected to reach USD 870.3 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2022 to 2030. The growing prevalence of acne vulgaris is boosting the adoption of instant treatments pertaining to the conditions such as acne patches, thus propelling market growth. There has been a surge in the number of anti-acne dermal patch brands being commercialized across the globe. Hence, increasing product launches in this industry have significantly boosted its revenue growth. Moreover, the rising number of companies expanding their geographic presence across the developing as well as developed economies have further supported the market’s positive growth trajectory across the forecast period.

However, the pandemic of COVID-19 has made the anti-acne dermal patch industry witness a negative drop in its growth rate in 2020. The parent market of beauty and personal care has reflected a significant decline in its revenue growth across the year 2020. Closure of retail stores, pharmaceutical outlets during the initial period of the COVID-19 outbreak has resulted in severe disruption of the profit model of such industries. However, the COVID-19 outbreak has also resulted in a sudden spike in demand for E-commerce platforms such as Amazon and a few others. Online platforms delivering beauty and personal care products including anti-acne dermal patches have witnessed strong growth during the last quarter of 2020, thus mitigating the negative impact on the business up to a certain extent.

Furthermore, the increasing trend of social media marketing is another crucial factor boosting the adoption of acne patches. For instance, in August 2019, Hero Cosmetics launched an influencer campaign on TikTok, promoting its anti-acne dermal patch by featuring 20 creators who posted videos of their morning routines with Hero's Mighty Patch product, thus attracting a large group of customers and thereby propelling its revenue growth.

Related Press Release@ Anti-acne Dermal Patch Market Report

Anti-Acne Dermal Patch Market Report Highlights

• The 18 to 44 segment dominated the market with a share of 55.2% in 2021. The high incidence of acne vulgaris among this age group is one of the prominent factors supporting its share
• The chemical-based anti-acne dermal patch segment accounted for the largest share of 88.3% in 2021
• Asia Pacific held the largest revenue share of 39.8% in 2021. The presence of large numbers of players in countries such as South Korea offerings novel herbal-based acne patches is responsible for market growth. The region is also expected to witness the highest growth over the forecast period

The global Cloud Computing Market is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 15.7%, according to a new study conducted by Grand View Research, Inc. Cloud systems thrive at streamlining inter-organizational communication and providing a simplified alternative for managing corporate processes. Due to cost savings, flexibility and scalability, data security, data storage, and team collaboration, about 70% of firms have already shifted to cloud-based computing for part of their services. For instance, in October 2020, Microsoft Corporation joined with ZEISS Group to improve health care and manufacturing quality through data solutions. Together with the simplicity of deployment and lower total cost of ownership, these advantages are likely to raise cloud computing demand throughout the forecast period, driving the market growth.

The outbreak of the COVID-19 pandemic is likely to impact businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges due to this unforeseen outbreak. Although all the outcry of COVID-19 has produced personal, professional, and community life, it also presented business opportunities. Thus, cloud computing solutions will support teams in learning to collaborate, and businesses can realize they can function effectively without having people in the office. This scenario is expected to propel market growth. To maintain employee well-being and operational efficiency, a growing number of businesses across multiple verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions.

Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance and acquisition strategies, and best operational practices. Moreover, cloud computing services help measure, correlate, and analyze business activities and ensure that company operations are in line with the customer demands. To get significant business insights for decision-making, many firms are investing in big data, IoT, artificial intelligence, and 5G technologies. Big data technologies are becoming more popular because of the numerous advantages they provide, such as data integration, data segmentation, and business intelligence, to name a few. The growing need for analytics and big data technologies in cloud computing services is opening up plenty of new chances for the market to expand.

Key vendors in the market focus on introducing new cloud solutions, services, and workloads and upgrading of capabilities of their current offerings to strengthen their foothold in the market. Furthermore, vendors also engage in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For instance, in October 2020, SAP SE announced an agreement to acquire Emarsys, an omnichannel customer engagement platform provider. The acquisition allowed SAP SE to add the Emarsys customer engagement platform into SAP S/4HANA and Experience Management technology. Emarsys technology would allow SAP Customer Experience solutions to link commerce signals with the back office and activate the preferred channel of the customer with a relevant and consistently personalized message, thereby enabling customers to choose their engagements.

Related Press Release@ Cloud Computing Market Report

Cloud Computing Market Report Highlights

• The Infrastructure as a Service segment is expected to register the highest CAGR over the forecast period owing to the increasing demand to reduce IT complexities, hire a skilled workforce to manage the IT infrastructures, and reduce deployment costs for data centers to drive the adoption of IaaS
• The small and medium enterprise segment is anticipated to emerge as the fastest-growing segment owing to reduced costs of IT hardware and software, improved processing capacity and elasticity of storage, and greater mobility of access to data and service. The increasing adoption of cloud technology among SMEs in developing regions is likely to boost the market growth over the forecast period
• The hybrid deployment segment is anticipated to emerge as the fastest-growing segment owing to the growth of cloud and industrialized services and a decrease in traditional Data Center Outsourcing (DCO). Moreover, edge computing has emerged as one of the most important drivers likely to accelerate the demand for the adoption of hybrid cloud models across organizations worldwide
• The manufacturing end-use segment is expected to register the highest growth rate over the forecast period. Owing to various functionalities, cloud computing aids manufacturers in utilizing multiple types of production systems, ranging from High-Performance Computing (HPC) and 3D printing to IoT and industrial robots. Cloud services also offer the platforms for continuous agility, innovation, business focus, availability, ability to scale and flexibility, and cost savings which are further projected to accelerate the adoption rate of cloud computing across the industry.
• Asia Pacific is expected to emerge as the fastest-growing region in the market owing to the increasing focus of SMEs and large enterprises to enhance their digital initiatives. The growth in the IT services industry in markets such as India, China, and other South Asian regions is also expected to propel the regional market growth over the forecast period.

The global Construction Equipment Market size is projected to reach USD 161.99 billion by 2030, registering a 3.9% CAGR from 2022 to 2030, according to a new study by Grand View Research Inc. Increasing investments by governments worldwide for developing public infrastructure is one of the prime factors that is expected to drive the market growth over the forecast period. Furthermore, the growing population in emerging economies such as India has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period.

Favorable government initiatives are expected to drive the growth of the market in the forthcoming years. For instance, in August 2021, the federal government of the U.S. announced stimulus packages including USD 550 billion in new federal investment for modernizing infrastructure are expected to drive construction spending in the country. Similarly, in 2019, the Government of India announced to invest USD 1.4 trillion for infrastructure projects from 2019 to 2023; this signifies the upcoming demand for construction machinery in the country over the forecast period.

The COVID-19 outbreak hampered the growth of the market, due to supply chain disruptions and temporary shutdowns of dealer stores. However, in 2021, there was a sudden increase in demand for construction equipment due to the resumption of construction activity for halted and new projects. An abrupt demand for construction and infrastructure resulting in a shortage of inventories leading to an increase in the price of the commodity of base materials are expected to hinder the growth of the market over the forecast period.

Related Press Release@ Construction Equipment Market Report

Construction Equipment Market Report Highlights

• The earthmoving machinery segment dominated the market in 2021. The segment is expected to witness progressive demand owing to the increasing investments for industrial and commercial construction projects in emerging economies of the Asia Pacific and the Middle East and Africa
• The material handling machinery segment is expected to register a CAGR exceeding 4% over the forecast period. It can be ascribed to an increase in demand for crawler cranes that offer greater convenience and ease of accessibility in small construction sites, especially in urban areas
• The concrete and road construction machinery is projected to expand at a CAGR exceeding 5% over the forecast period. Favorable government initiatives to increase their investment in highway construction are anticipated to drive the growth of the segment

The global Luxury Bath And Body Products Market size is expected to reach USD 28.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2022 to 2030. The market is driven by the growing consumer preference for natural or chemical-free products. Millennials have radically reshaped the skincare market as they demand authenticity, a means of self-expression, and a reliance on social media.

Consumer preference for high-quality products has led to an increase in the willingness to spend a higher amount on luxury bath and body products. Thus, high-priced premium bath and body products are gaining traction in the market. These products contain biologically active ingredients such as ferulic acid and essential oils such as baobab oil, moringa oil, and vitamins, which claim to have a physiological effect on the skin and offer both relaxing and calming benefits to the body.

The application of luxury body washes is an emerging trend as consumers are seeking high-quality and premium products that offer the benefits of aromatherapy in everyday use. Moreover, consumers prefer to pay higher prices for luxury body washes that contain signature fragrances, essential oils, and premium aromatherapy oils, which help in uplifting one’s spirits and calming the mind, offer soothing fragrance and deliver aromatic and botanical undertones. Such benefits are likely to drive the demand for luxury body washes in the upcoming years.

The online distribution channel is expected to register the fastest CAGR from 2022 to 2030. As per the data published on India Brand Equity Foundation, in February 2021, several homegrown and foreign luxury beauty brands such as Kama Ayurveda, Forest Essentials, SUGAR Cosmetics, and Kiehl’s have recorded more than 50% sales through e-commerce during the pandemic, which is encouraging beauty brands to invest in their online stores. This is anticipated to boost the growth of the online segment during the forecast period. The market is consolidated with the presence of a large number of international players and a few regional players.

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Luxury Bath And Body Products Market Report Highlights

• North America emerged as the largest regional market in 2021. The rising consumer awareness regarding health and hygiene and the increasing preference for premium sustainable products are likely to fuel the demand for luxury bath and body products in North America over the forecast period
• By product, the body lotion and creams segment is projected to register the fastest CAGR from 2022 to 2030. Luxury body lotions and creams contain hydrating ingredients like nourishing plant oils, earth-derived butter, and humectants such as hyaluronic acid and glycerin that help in addressing skin concerns like eczema, chronic dryness, and loss of elasticity
• The online distribution channel is expected to register the fastest growth rate during the forecast period. Online channels have been gaining popularity over the past years owing to the growing prevalence of online shopping across the globe. Consumers across the world are increasingly turning toward online shopping for luxury bath and body products due to the rising visibility of several premium brands

The global Waste Recycling Services Market size is anticipated to reach USD 81.3 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corp., Interface, Inc., Covanta are some of the key players in this industry. Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth.

Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects.

Rapid industrialization has boosted the consumption of harmful chemicals, resulting in the generation of a substantial amount of hazardous waste. Furthermore, increased agricultural production has boosted the livestock & agricultural crop wastes along with agro-industrial by-products. Thus, increased generation of waste is likely to boost the demand for services for waste recycling.

Governments across the world are embracing the public-private partnership model to match the operational knowledge provided by the private sector. Rising focus on greening the waste recycling industry with emphasis on the 3Rs i.e. reduce, reuse, and recycle is critical to achieving the environmental, economic, and social goals of sustainable development, thereby driving the market growth.

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Waste Recycling Services Market Report Highlights

• The municipal segment accounted for over 53% of the global revenue share in 2020 owing to the implementation of policy frameworks and increasing investments in municipal trash recycling services in developing economies of India, China, Bangladesh, and Thailand
• Electronic waste accounted for a significant market share in 2020 as manufacturers are focusing on recycling, disposing, and reusing to ensure a sustainable future, both in developed and developing economies
• Plastics are projected to witness a CAGR of 7.0% from 2020 to 2028 on account of initiatives undertaken by various governments, environmentalists, and non-profit organizations globally to reduce plastic waste and meet sustainable development goals
• Asia Pacific accounted for more than 39% of the global revenue share in 2020 due to the rapid industrialization, population expansion, and economic growth, resulting in increased waste generation
• The global market has witnessed significant technical improvements and sustainability, which have aided the service providers to reduce operating costs and enhance profit margins

The global Petrochemicals Market size is estimated to reach USD 860.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028. BASF SE, Chevron Corporation, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (SINOPEC), ExxonMobil Corporation, INEOS Group Ltd. are some of the key players in this industry. The market is largely driven by rising demand for downstream specialty chemicals and plastic manufacturing. The market is expected to witness steady growth over the forecast period owing to increasing demand from end-use industries such as construction, industrial, textile, medical, pharmaceuticals, consumer good automotive, and electronics.

Crude oil and natural gas are the major raw materials used for the manufacturing of petrochemical products. The volatile prices of crude oil are a major challenge in the procurement process of crude oil as a raw material for product manufacturers. The industry players that are reliant on crude oil as a feedstock for manufacturing are likely to face difficulties in the coming years.

The competitive rivalry among producers of petrochemicals is high as the market is characterized by the presence of a large number of global players with strong distribution networks. Top players have been dominating the industry for the past few years owing to increasing investments in R&D activities related to new product development and manufacturing processes.

Asia Pacific was the dominating region in 2020 and is predicted to witness the highest CAGR over the forecast period. Factors such as increasing crude oil refining capacity, growing population, and improving standard of living of the masses are expected to fuel the growth of the market in Asia Pacific in the coming years.

Related Press Release@ Petrochemicals Market Report

Petrochemicals Market Report Highlights

• In 2020, ethylene emerged as the dominant product segment by contributing over 40.7% revenue share as it is majorly utilized for the formulation of various derivatives such as ethylene oxide, polyethylene, Ethylene Dichloride (EDC), ethylbenzene, and styrene
• Polyethylene was the major application of ethylene product amounting for 64.1% of the revenue share. The consumption of polyethylene is driven by the rising demand for High-density Polyethylene (HDPE) for blow molding across the globe
• Butadiene was the second-largest product segment in 2020 and is expected to witness a CAGR of 5.9% in the coming years as it is a key building block used in the manufacturing of several chemicals and materials employed in industries such as consumer durables, healthcare, and building and construction
• Asia Pacific was the dominating region both in terms of revenue and volume owing to increasing demand for petrochemicals from various end-use industries including transportation, packaging, and construction

The global Packaging Machinery Market size is expected to reach USD 59.24 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2021 to 2028. KHS Group, SIG Combibloc Group Ltd., Tetra Laval International S.A., Krones AG, I.M.A. Industria Macchine Automatiche S.p.A., Syntegon Technology GmbH, ProMach are some of the key players in this industry. The rising demand for packaged food and beverages, coupled with the growing pharmaceutical and personal care industries, is expected to drive the demand for packaging machinery over the forecast period.

The growing popularity of single-serve bag sizes and smaller portions has increased the demand for high-speed and efficient packaging machines. Moreover, with the consumer-driven demand for a wide range of products in different packaging sizes and shapes, there is an increasing demand for flexible packaging machines that can adapt to different products and pack styles.

Consumers and retailers are increasingly demanding sustainable packaging styles resulting in the machine manufacturers requiring to work closely with material suppliers to test new materials and make necessary modifications to the machine. Moreover, with the rapid developments in retail packaging formats, the demand for faster and more flexible machines has increased.

The market is expected to witness growth in the years to come on account of the rising demand for personal care and medical products, such as hand sanitizers, soaps, face masks, and gloves, despite the supply chain disruptions caused due to the COVID-19 pandemic. In addition, lockdowns and movement restrictions have further increased the demand for packaged food.

Related Press Release@ Packaging Machinery Market Report

Packaging Machinery Market Report Highlights

• By machine type, the form-fill-seal segment is anticipated to expand at the fastest CAGR of 5.2% over the forecast period on account of the increasing popularity of flexible packaging, coupled with the rising demand for single-serve and small portion packs
• The food end-use segment accounted for the largest share of over 35.0% in 2020 owing to the increasing demand for packaged food products attributed to the changing lifestyles, increasing disposable income, and the growing middle-class population
• The North American market is likely to expand at a CAGR of 3.2% from 2021 to 2028 due to the increasing demand for highly automated and integrated machines, coupled with the favorable packaging and labeling regulations in the region
• The market in China is anticipated to expand at a CAGR of 5.3% over the forecast period owing to the growing focus on improving productivity, coupled with the favorable government policies focusing on technology and machinery upgrades
• In June 2020, Hugo Beck Maschinen bau GmbH & Co. KG. launched two machines, namely PB 800 E-Com and flexo 700 E-Com, which are explicitly designed to cater to the demand for e-commerce packaging