The computer graphics market is expected to grow at a CAGR of 6.47%, reaching a market size of US$45.436 billion in 2030 from US$30.463 billion in 2025.
Graphics refers to anything that can be represented visually or graphically. GPU designs, user interface design, 3D modelling, and computer vision are all aspects of computer graphics. Often, rather than using images, visuals are misconstrued using sounds and phrases that also include letters and numbers. Images that are displayed on screens, as well as graphics that are created and altered by computers, are the main components of computer graphics. They are either two-dimensional (2D) or three-dimensional (3D). Before, computers could only produce a limited number of 2-dimensional images, but now the computer graphics market is being driven by advances and developments in technology. A personal computer or desktop is the primary requirement for accomplishing this, and in addition, new, specialised software, some hardware, and other elements are required for these visuals.
The substantial rise in smartphone adoption worldwide and the rapid expansion of the IT sector are credited with the surge. In addition, more and more industries are demonstrating a preference for the implementation of automation technologies, largely to increase production and efficiency. As a result, more computer systems will be needed to run automated solutions like robotics, machines, and analytical tools, among others. This is one of the main drivers fueling the expansion of the computer graphics market. Additionally, the worldwide increase in gamers and the development of 3D and 4D technologies are some other elements that will support the demand for computer graphics solutions in the years to come. Furthermore, a significant factor that is anticipated to fuel market expansion is the rising need for computer graphics in the entertainment sector.
The adoption of computer graphics in the gaming and entertainment industries will fuel market expansion
The entertainment and media sectors’ increasing use of image processing and 3D animation techniques is boosting the market for computer graphics. The nature of computer graphics has changed significantly in recent years, and these new developments have swiftly altered the market. Computer graphics are being used in filmmaking for a wide range of purposes, including character creation, the inclusion of special effects, etc. Another major factor that is predicted to increase demand for computer graphics in the entertainment industry for the construction of fully functional imagery models is advancements in computer technology.
Online gaming has become more accessible and popular as smartphones and tablets have become more common. With the rise of this trend came an enormous number of free video games, creating a brand-new market for individuals in the computer graphics sector. The market for computer graphics games is becoming more and more popular because of the development of VFX technology as well as the growing need for live experiences of places and events. Additionally, in order to increase the variety of games offered on the market, independent game makers are teaming up with bigger entertainment companies. For instance, in May 2022, three new Radeon RX 6000 Series graphics cards from AMD were launched, along with the first games that would support AMD FidelityFX Super Resolution 2.0. In comparison to previous-generation products, these three revised versions offered faster game clocks, faster GDDR6 memory, and improved software and firmware. They also provided remarkable performance-per-watt based on AMD RDNATM 2 technology. Thus, due to the growing use of computer graphics in the entertainment sector, the market for computer graphics is anticipated to expand.
Key market developments
New partnerships and collaborations, innovative product offerings, research and development, and market investments will thereby increase the demand for computer graphics. For instance,
February 2022: The technology firm Speech Graphics, which has its headquarters in Edinburgh, has raised $7 million in a new round of funding to further the development of its audio-driven facial animation technology. The round, which was led by Sands Capital, will be used to expand the company’s product and service offerings to address a variety of enterprise needs, from sales to service, healthcare, retail, banking, and travel, as well as its work in the global games market.
March 2022: To provide gamers and designers with high-performance visual computing experiences, Intel developed Intel Arc graphics. The AI-accelerated media capabilities, AI-enhanced XeSS upscaling, Intel Deep Link technology, and other features are part of the Intel Arc graphics, which are aimed at gaming and video creation. The series was created to provide the best streaming, creative, and gaming experiences. There are Arc graphics cards for every type of gaming experience, from enhanced mainstream gaming on the Intel Arc 3 to high-performance AAA gaming on the Intel Arc 7.
May 2022: Autodesk announced its investment in RADiCAL, the New York-based maker of a 3D motion capture solution driven by AI and born in the cloud. RADiCAL democratises 3D motion capture, human virtualisation, and analysis on a large scale with its collaborative real-time platform. Modern deep learning techniques, human biomechanics, and computer graphics are all combined by RADiCAL’s proprietary AI to estimate, track, and replicate skeletal joint rotations in 3D from a single traditional video feed. This information can be used to automate the animation of 3D avatars and characters in both videos and metaverses.
August 2022: In order to improve its computer graphics creation capabilities for Metaverse applications, Nvidia revealed a number of technology initiatives. The new NeuralVBD library, the follow-up to the OpenVBD open-source library for sparse volume data, is one of the initiatives. Nvidia, Kaolin WISP, and NeuralVDB unveiled two new software development kits (SDKs) at SIGGRAPH 2022 that use the capabilities of neural graphics to create and display animation and 3D objects.
The North America region is expected to hold a significant share of the market in the coming years
North America is predicted to be the most lucrative region in terms of market share. A number of companies, including Autodesk Inc., Adobe Systems Inc., Siemens PLM Software, Microsoft Corporation, and others, are major suppliers of computer graphics hardware components and application software in the area. This is because there are several visual effects (VFX) businesses in the area, including some of the best ones, such as Walt Disney Animation Studios, DreamWorks Animation, Warner Bros. Animation, and Industrial Light & Magic. Due to ongoing developments in the fields of movies, streaming material, television and advertising, broadcasting, music, radio and audio recordings, video games, book publishing, and others, the media and entertainment business is expanding significantly across the United States. These factors are likely to increase the demand for Computer graphics in the region.
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The access control market is estimated at US$6.637 billion for 2020, growing at a CAGR of 7.52% to reach a market size of US$11.029 billion by 2027.
As digital technology has advanced, it has become increasingly challenging for organizations to function in an environment exposed to malware assaults. All contemporary businesses must secure their physical and intellectual property assets, as well as the security of their employees, by restricting the movement of individuals according to predefined regulations. One of the key elements driving the increased need for access control systems is the growing necessity for protecting today’s corporate landscape. With so much data being created through different digital platforms, it has become a precious resource, and hackers are eager to monetize it to gain money and conduct fraud. The usage of access control systems offers protection for both employers and workers by safeguarding personnel from any potential events that may occur at the workplace or elsewhere. The system also has a log-keeping feature, which increases responsibility. The installation of access control systems helps to increase the safety and security of workplace environments. Therefore, this is one of the primary reasons that is contributing to the market’s growth for the upcoming years.
Vanderbilt Industries, Gemalto NV, Honeywell International Inc, IDEMIA, Matrix Comsec Pvt. Ltd., Brady Corporation, Tyco International, Protection One, NEC Corporation, Siemens, Hangzhou Hikvision Digital Technology Co., Ltd., HID Global Corporation, and others are a few key major players in the access control market.
Honeywell International Inc is a publicly listed American multinational firm based in Charlotte, North Carolina. Its primary business lines include aircraft, building technologies, specialty materials and technology, and security and productivity solutions. Honeywell showcased its finest fire and security products at the ISC West 2019 exhibit in April 2019. OmniAssure Touch, a new line of access control readers, is interoperable with Honeywell’s existing security suites, which include WIN-PAK, WINMAG, and Pro-Watch. The firm is committed to developing life safety technologies that employ connectivity to help build a smarter and safer society. Furthermore, Honeywell announced the release of MPA2 and MPA1, access control panels with cloud, web-based, or on-premises hosting options, in February 2021, to expand the functionality of its MAXPRO Cloud portfolio.
Gemalto NV, is a global digital security firm that offers application software, protects private devices including smart cards and credentials, and professional services. It is headquartered in Amsterdam, Netherlands. Furthermore, Thales acquired the worldwide security business Gemalto in early 2019 and integrated it with its current digital assets to form a new pioneer in digital security. Thales introduced CipherTrust Manager, a rebranded version of Next Generation KeySecure, in July 2020. CipherTrust Manager enables enterprises to manage data encryption lifecycles and policies centrally, regardless of where the data sits, and assists them in meeting data privacy and compliance standards. All access control and encryption operations are subject to role-based access restriction.
NEC Corporation based in Minato, Tokyo, is a Japanese multinational electronics and information technology corporation. NEC Corporation of America, a global tech integrator of sophisticated IT, communications, connectivity, and biometric modalities solutions, announced the formation of NEC National Security Systems, Inc. It is a completely owned subsidiary of NEC that solves challenges and creates opportunities for public officials and people by utilizing world-class technology. Moreover, identity and biometric technology, artificial intelligence, and machine learning are among the solutions that are transforming the way government does operations. Based on an established Special Security Agreement with the American Government, NEC NSS is established as a Foreign Ownership, Control, or Influence (FOCI)-restricted subsidiary. It will offer biometric software and hardware as part of integrated solutions for global defense, intelligence, defense, immigration, and law enforcement. The Department of Homeland Security, the Department of Justice, the Department of State, the Department of Defense, and the United States intelligence community are the primary clients of NEC NSS.
Access Control Market Scope:
Report Metric
Details
Market Size Value in 2020
US$6.637 billion
Market Size Value in 2027
US$11.029 billion
Growth Rate
CAGR of 7.52% from 2020 to 2027
Base Year
2020
Forecast Period
2022–2027
Forecast Unit (Value)
USD Billion
Segments Covered
Product, Service, Deployment, End User Industry, And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered
Vanderbilt Industries, Gemalto NV, Honeywell International Inc, IDEMIA, Matrix Comsec Pvt. Ltd., Brady Corporation, Tyco International, Protection One, a division of ADT LLC, NEC Corporation, Siemens, Hangzhou Hikvision Digital Technology Co., Ltd., HID Global Corporation, an ASSA ABLOY Group
Customization Scope
Free report customization with purchase
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Solar panel recycling is widely used in the process of reducing harmful impacts on the environment and providing a sustainable future. These solar panels are used in different commercial and residential areas to provide clean and sustainable energy through this advanced renewable energy resource. The need for recycling these solar panels is growing with the widespread adoption of these solar renewable energy resources across the globe. When the solar panels are recycled they can be reused by these commercial and residential end-users to get clean energy rather than increase waste by not recycling these solar panels which can increase the harmful impact on the environment.
These solar panel recycling process or services is widely adopted by several clean energy providers that manufacture these solar panels to recycle and reuse these solar panels and save the harmful impact on the environment. The recycling process of these solar panels includes removing of junction box and frame while using chemical, thermal, or mechanical processes to separate the silicon wafer and the glass. Then after separating by the use of several different electrical and chemical techniques the purification is done for silicon cells as well as for special metals like copper, silver, and lead. This whole process makes the discarded and already used solar panels ready to be used as a clean energy resource in different commercial and residential areas.
Global Production Trends
The production of solar panel recycling has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand due to rising environmental concerns. For instance, factors such as rapid growth and popularity in the clean energy industry that needs effective recycling options for these different renewable energy resources such as solar panels to make the environmental conditions more clean and sustainable are making several clean or renewable energy manufacturers adopt these solar panel recycling into their devices to grow the sales.
In recent years, there has been a notable increase in the production of solar panel recycling techniques and services in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the renewable energy industry that includes solar energy or solar panels that require effective and reliable recycling techniques to attract customers to buy their solar panels to reduce their cost and achieve sustainability. These solar panel recycling have a diverse set of applications for different commercial users and residential users as well which is why several governments across the globe are heavily investing in research and developing effective and reliable recycling techniques for these solar panel recycling which has significantly grown their production globally.
Solar panel recycling use case
The use of solar panels in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for clean energy and achieving a sustainable future with the use of renewable energy resources like solar panels and then again recycle them to reduce the waste that can negatively impact the environment. Renewable energy resources such as solar panels or wind turbines are one of the fastest-growing segments of the renewable energy market among all the others, therefore, different end-users and other industries like commercial offices are using these solar panels to use clean and green energy.
These solar panels can be recycled by these different commercial end-users when they are outdated or not working properly. The growing recycling of these solar panels results in less waste that is caused by them and makes a step forward towards achieving sustainability by recycling and reusing these solar panels. Therefore, the growing adoption of these solar panels and awareness about recycling and reusing them is increasing the use cases for these solar panel recycling.
The growth in the applications of solar panel recycling in achieving sustainability worldwide has made the production and development of techniques and devices necessary for recycling these solar panels much more prominent and increased in numbers over the years as renewable energy resources like solar energy are growing in demand rapidly. The need for suitable recycling techniques for achieving sustainability and a green future is growing in demand which is why these are being adopted by different clean energy resource manufacturers which has further increased the use case for these solar panel recycling among the different end-users.
The growing environmental concerns have led to significant growth in the investments made by governments across the globe towards different renewable energy resources and recycling techniques. This has made different research and development centers get proper funding to experiment and create effective and reliable recycling techniques for these solar panels that can reduce the harmful impact on the environment as well as achieve sustainability.
The growing investments and adoption of solar panel technology are resulting in increasing the use cases for solar panel recycling. The more these solar panels are used the need for recycling the decommissioned or used solar panels will increase proportionally. For instance, in the United States, the use of solar panels in the utility sector was at 116,856.8 MWdc capacity and the residential sector was at 36,268.2 MWdc capacity in the year 2023.
Figure 1: Segmentation of the United States solar Installations in the Year 2023 (in Megawatts Direct Current)
Source: seia.org
Market Dynamics and Drivers
Several factors drive the solar panel recycling market, including a rise in applications for them across different industrial applications like commercial and residential areas in recent times coupled with the rise in demand for sustainable and reliable energy resources among the general public. The growing environmental concerns like global warming and climate change are the significant factors that are raising awareness among the general public and governments to adopt recycling methods for these solar panels to reduce any harmful waste that may be produced by the waste of used and decommissioned solar panels. The growing investments in research and development of new and effective recycling techniques and spreading awareness about clean energy solar energy panels are significantly fueling the solar panel recycling market over the forecast period.
The development and innovation in different solar panel recycling techniques made for recycling new and innovative solar panels across the globe is one of the growth factors in the solar panel recycling market. The use of innovative recycling techniques in the solar energy industry is significantly impacting the demand for solar panel recycling in the market. This happens because the more people adopt and use solar panels globally the more the need and demand for effective solar panel recycling services will increase across the globe.
The growing global demand and installation of these solar panels are one of the key factors that is growing the demand for suitable recycling services for these solar panels to reduce waste and achieve sustainability. The reduced prices of these solar panels are leading to their widespread adoption which in turn will increase demand for these solar panel recycling globally. For instance, in the United States, the cost of solar installation has dropped by 40% over the last 10 years. Also, the growing global adoption of solar energy is expected to significantly boost the market for solar panel recycling over the forecast period. For instance, the global solar deployment was estimated at 350 GWdc and is anticipated to reach 590 GWdc by the year 2027.
Figure 2: Growth in Global Solar Deployment, From the Year 2023-27 (in Gigawatts Direct Current)
Source: energy.gov
Key Developments
InMarch 2024, Silbaf Solar that is one of North America’s biggest PV solar manufacturers made an agreement with SOLARCYCLE which makes technologies based on solar recycling to purchase ultra-low carbon domestic glass for the solar panels made in the United States. This agreement expands their already existing partnership of solar panel recycling and takes a step towards achieving sustainability which is aimed at both companies.
InFebruary 2024, Qcells, a clean energy solution in the United States commercial and residential markets teamed up with SOLARCYCLE which makes technologies based on solar recycling to recycle their used or previously owned solar panels in the United States..
In August 2023, CSG Recovery, a leading waste management company announced the launch of solar panel recycling services. This company specializes in taking products made from mixed materials and breaking them down into recyclable components and they aim to do the same with the potential mountain of discarded solar panels.
In conclusion, the solar panel recycling market presents significant opportunities for growth and innovation, driven by the increasing popularity of sustainable and renewable energy resources around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative solar panel recycling solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for solar panel recycling.
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The multi-factor authentication market is projected to grow at a CAGR of 16.88% during the forecast period to reach US$34.497 billion by 2027, up from US$11.543 billion in 2020.
While signing into an online account the user has to go through a process of proving to the service that the user logging in is the true user of that account, this process is called authentication. Traditionally, the service provider used to perform the authentication technique only with the username and a password. However, it is not a very safe way to do it, since, the usernames and passwords are easy to discover. Henceforth, to aid these issues and to add more security to the user’s account many online services like social media platforms, banks, and shopping have added multi-factor authentication. A user is authenticated and given access to an application, web portal, or VPN through a variety of authentication mechanisms using multifactor authentication, which is an electronic authentication security solution. In order to prevent unauthorized personnel from accessing a target, such as computing equipment, network, physical location, or database, MFA seeks to create a layered defense. The multi-factor authentication market is segmented into type, application, and geographical regions.
The increasing demand for cloud computing, smartphones coupled with wider internet accessibility, and the growing security breaches are expected to drive the multi-factor authentication market.
The demand for cloud computing is witnessing a growing trend in the past few years, owing to its benefits such as flexibility, efficiency, control choices, and security features among others. Cloud computing delivers numerous computing services which include servers, storage, database, networking, software, analytics, and intelligence. Furthermore, cloud computing services reduce the burden of owning a computing infrastructure or data center for companies. Organizations have a simple option to get rent access to anything from applications to storage from a cloud service provider. These cloud computing services allow companies and organizations to cut their upfront cost and complexity of owning and maintaining their own IT infrastructure. However, with the rising shift of organizations toward cloud computing has given rise to security issues. The number of security breaches has grown exponentially. According to IBM’s cost of data breach report 2022, the global average total cost of a data breach accounts for US$4.35 million. The total share of breaches due to ransomware grew by 41% in 2021. Such an increasing number of cyber-attacks, security breaches, and the growing trend of cloud computing has consequently given rise to security-related concerns for the end users. Henceforth, the growing security concerns are expected to propel the multi-factor authentication market in the coming years.
Furthermore, the growing population of smartphone users and the diverse use of smartphones for banking, gaming, education, social media, and work among others are giving rise to the demand for secure, rapid, and easy authentication processes. The rising online transactions through online banking and the high adoption of fast payment methods are due to the growing penetration of smartphones. Moreover, the spurt in e-commerce and mandatory laws by the banks for secure transactions through strong authentication measures is expected to propel the multi-factor authentication market. Additionally, this rising use of mobile banking is expected to increase the demand for OTP authentication. Henceforth, to secure transactions through these electronic devices and protect consumers from any fraudulent attacks, multi-factor authentication is used. Also, the integration of these authentication systems by the banking, healthcare, and retail sectors are creating growth opportunities for the multi-factor authentication market during the anticipated period.
The strict compliances imposed by several governments from numerous countries are further driving the market despite the rising number of data breaches. Thus, the multifactor authentication market is expanding as a result of increasingly strict compliance requirements and numerous organizations’ initiatives to create and implement improved authentication solutions.
It is expected that the two-factor authentication model will witness significant growth during the forecast period.
Based on the model, the multi-factor authentication market can be segmented into two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication.The two-factor segment is anticipated to experience a significant revenue increase over the projected period based on the authentication model. Two-factor authentication adds an extra layer of protection to the user’s account. Under this authentication model, a user is required to fill in the username and password details, and then the user is directed towards another requirement of fulfilling the information instead of getting direct access to the account. This second factor allows the second level of security in case the user’s password or username is compromised. Furthermore, the importance of two verification elements is increasing as more firms and industries, including those in banking, healthcare, and insurance, employ online transactions. The market’s need for two-way authentication models is being driven by benefits including quicker transactions and shorter password reset and authentication times. High productivity, reduced management and help desk costs as a result of fewer customer inquiries, and other reasons are also anticipated to contribute to the two-factor authentication model segment’s revenue growth over the projected period.
Based on Geography, the North American region is expected to hold a dominant share in the multi-factor authentication market during the forecast year.
Based on geography, the multi-factor authentication market is segmented into North America, South America, Europe, the Middle East and Africa (EMEA), and the Asia- Pacific. The analysts anticipate that the North American region will hold a significant share of the multi-factor authentication market during the forecast period. The prime factor driving the growth of this market in the North American region are stringent data security policies and widespread cloud deployments. For instance, the USA has a different mix of laws for data privacy like HIPAA (health insurance portability and accountability law), FERPA (family education rights and privacy act), and ECPA (Electronic Communications Privacy Act) among others. Furthermore, the high adoption of cloud-based applications in North America is giving rise to cyber-attacks in this region. For instance, in January 2021 over 30,000 US businesses were affected by the sweeping attack on Microsoft Exchange email servers. The hackers were able to gain unauthorized access to emails from small businesses to local governments. For another instance, Facebook, one of the world’s largest companies dealt with a security breach in April 2021. This massive data breach resulted in the leaking of names, phone numbers, account names, and passwords of over 530 million users. These instances are becoming more and more frequent in the past few years in this region. henceforth, data security has become a major concern in countries like US and Canada, which is expected to propel the market for multi-factor authentication during the stipulated period.
Multi-Factor Authentication Market Scope:
Report Metric
Details
Market Size Value in 2020
US$11.543 billion
Market Size Value in 2027
US$34.497 billion
Growth Rate
CAGR of 16.88% from 2020 to 2027
Base Year
2020
Forecast Period
2022 – 2027
Forecast Unit (Value)
USD Billion
Segments Covered
Model, Application, And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
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The infant formula market is projected to grow at a CAGR of 5.42% to reach a market size of US$78.639 billion by 2028, up from US$54.330 billion in 2021.
The infant baby formula comprises a formula for newborns aged 0 to 6 months. They are advised if breastfeeding is in short supply or to augment the baby’s nutrition. The simplicity of feeding, the nutrition mix, and the choice of milk and soy-free milk varieties make these goods a viable alternative, particularly for working mothers. These items are available in fluid, powdered, and prepared forms, with dairy serving as the primary component in all of them.
The increase in the number of women working outside the house is the primary driver of the market. Furthermore, increased knowledge regarding the high nutritious content of infant formula drives the market growth.
Before giving the powdered version of infant formula to the baby, it must be mixed with water. Because of its appropriateness as a replacement for human milk, this formula is only intended for special dietary usage as a meal for newborns. It contains a variety of nutrients that are necessary for newborns’ general development and growth, making it a popular option among working women who are unable to nurse their kids on time.
Moreover, companies have expanded their operations by collaborating with other firms in addition to launching natural and organic products that have surged the market trend in the upcoming years. For instance, Else Nutrition, a maker and distributor of cleansing components, plant-based nutritional products, and organic baby formulas developed with a proprietary buckwheat, almond formula, and tapioca, was launched in February 2020. Therefore, such innovative and clean product launches are expected to positively contribute to the market size.
The rising number of working women in addition to the high preference of the market by consumers will drive the market share.
According to the World Bank, Panama, Portugal, Spain, Chile, and, Korea are the five nations’ whose income and female labor force participation increased significantly in 2020. Chile’s GDP per capita climbed to $12,954, while female labor force participation rose to 45 percent. Furthermore, governments have initiated several schemes to increase women in labor. The Ministry of Women and Child Development in India created the STEP Scheme (Support to Training and Employment Programme for Women), which seeks to offer women employability skills as well as competencies and skills that allow women to become self-employed/entrepreneurs. The Scheme is meant to help women in the nation who are 16 years of age or older.
Therefore, the growing number of working women worldwide has prompted baby food firms to offer nutrition-rich supplements to meet the need for easy feeding. Many women return to work soon after giving birth, and baby formula is ideal for these mothers since it is simple to prepare and takes less time. In addition, corporations are using eco-friendly packaging materials, which has increased the growth potential for significant players. Furthermore, infant formula contains different nutritious properties than human breast milk, which increases market acceptance. Protein utilization as a component in diverse uses such as milk supply and specialty formula is predicted to drive up demand for baby formula ingredients in the coming years.
The emerging initiative by the companies to include nutritional value in the infant formula is anticipated to surge the market demand.
The worldwide infant formula industry is expected to increase rapidly due to the growing demand for organic baby food for children below the age of five. The growing prevalence of malnutrition among children and newborns has increased the need for baby formula. Because newborns lack the necessary muscles and teeth to chew properly, baby food and baby formula serve as their major sources of nutrition. Nowadays, parents are becoming more conscious of the importance of proper nutrition in their child’s general growth and development. As an outcome, they are gravitating toward nutrient baby food and newborn formula. These items are often available in powdered form that may be blended with milk or water. Aside from that, as consumer awareness grows, producers are producing natural, gourmet, baby food, and infant formula versions to improve sales.
Consumers’ increased awareness of ingredient and content labelling has driven corporations to develop clean-label manufacturing. For instance, in March 2021, 108LABS introduced Colostrupedis, an animal-free infant baby formula made of cell-cultured human milk molecules generated from human mammary cell farming and fortified with widely neutralizing human secretory antibodies.
Furthermore, Danone developed the new Dairy & Plants Blend infant formula in July 2022 to address parents’ need for a vegetarian, flexitarian, and plant-based feeding alternative while still providing their baby’s precise nutritional requirements. Danone has developed this innovative dairy & plant-based infant formula mix based on 50 years of clinical breastfeeding research and its tradition of expertise in plant-based foods through well-known brands such as Alpro & Silk.
During the forecast period, the global infant formula market in Asia Pacific is predicted to have a dominating share.
The global infant formula market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. During the forecast period, the Asia Pacific is projected to hold a significant amount of market share due to the rise of online pharmacies and retail outlets. The adoption has been fueled by growing demand for organic baby food and increased knowledge about the health of newborns. Due to the rising impact of infant mortality rates and stunting, India implemented a variety of initiatives to reduce the number of malnutrition children in the country. POSHAN Abhiyaan, for example, aims to reduce childhood malnutrition by delivering intensive health and nutrition assistance for the first 1000 days, with real-time monitoring. The Indian government pushed the use of baby formula for moms who were unable to breastfeed through this effort. From October 2020 to March 2021, according to the most recent POSHAN JAN ANDOLAN survey, about 7,315,163 children under the age of 5 received all policy benefits. Additionally, on September 29, 2022, Else Nutrition Holdings Inc. established its flagship Chinese store on Tmall Global, and the business is offering Else Nutrition Toddler Formula and Baby Cereal items directly to Chinese consumers. Else’s entry into the Chinese market marks the company’s third foreign market.
Global Infant Formula Market Scope:
Report Metric
Details
Market Size Value in 2021
US$54.330 billion
Market Size Value in 2028
US$78.639 billion
Growth Rate
CAGR of 5.42% from 2021 to 2028
Base Year
2021
Forecast Period
2023–2028
Forecast Unit (Value)
USD Billion
Segments Covered
Formula Type, Form, Distribution Channel, and Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered
Abbott, Nestlé S.A., Dana Dairy Group, Danone, Ausnutria Dairy Corporation Ltd., Perrigo Company plc, Else Nutrition, Biostime, Juniper Naturals, Mead Johnson & Company, LLC
Customization Scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/infant-formula-market.jpg6251205adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-05-02 11:31:062024-05-10 08:00:00The Rising Nutritional Value of the Global Infant Formula Market
The collision avoidance system market is expected to grow at a 9.34% CAGR from $10.997 billion in 2020 to $20.542 billion by 2027.
A collision avoidance sensor system is used to identify objects or impediments in their path and assist them in avoiding a collision. The global market for collision avoidance sensors is expanding due to increased demand in the industrial, construction, and automotive industries. Because of the growth in global accidents and the advent of automated car assistance systems, there is a larger demand for improved sensory technologies. Suppliers have begun to introduce element-specific car sensors to provide the maximum level of precision. The worldwide collision avoidance system market is expected to rise due to reasons such as a surge in demand for sports utility vehicles (SUVs) and high-end luxury cars and utility vehicles, as well as an increase in demand for automated vehicles.
The increasing adoption of high-speed rail by emerging nations is driving market expansion for train accident avoidance systems, while obstacles such as significant initial capital investment in railroads may stymie market growth.
However, the worldwide collision avoidance system market is hampered by the cyclical nature of automobile sales and manufacturing, as well as high installation costs. On the contrary, rising automotive safety standards, more electronic integration in automobiles, and the installation of advanced driver assistance systems in passenger vehicles are likely to generate lucrative possibilities for the collision avoidance system sector.
The initiatives taken by the government in addition with companies to implementing collision avoidance systems will propel market growth.
The rising initiatives taken by governments and companies to implement collision avoidance systems have significantly impacted the market size. For instance, the East Central Railway (ECR) zone of Indian Railways established the ‘Kawach’ system in February 2022 to ensure the smooth operation of trains passing through the zone. A tender for the installation of the system has been issued for Rs 151 crore. In Budget 2022, Finance Minister Nirmala Sitharaman announced the implementation of ‘Kawach,’ an indigenously designed anti-collision technology.
Additionally, Toposens, a Munich-based high-tech firm, introduced the Toposens 3D COLLISION AVOIDANCE SYSTEM for mobile robots in July 2022, based on the unique Toposens 3D ultrasonic echolocation technology. Toposens PROCESSING UNIT and Toposens 3D Ultrasonic Echolocation Sensor ECHO ONE with advanced filters for 3D collision avoidance are now available, having undergone extensive commercial testing in real-life industrial applications with prominent mobile robotic firms.
Furthermore, Project iRASTE, a collaboration between the Telangana Government, INAI, Intel India, IIIT-Hyderabad, Mahindra & Mahindra, Central Road Research Institute, and Nagpur Municipal Corporation (NMC), promotes safer driving behaviors and would help reduce accidents. The project intelligent solutions for road safety via technology and engineering (iRASTE) seeks to make roadways safer. The AI-powered Collision Avoidance System (CAS) kept a constant eye on the road ahead. It warned drivers of probable pedestrian accidents, lane deviations, and forward collisions. In consideration of this, collision avoidance systems have been put on 50 buses in Nagpur for a pilot study to determine their usefulness in increasing public transportation bus safety. The system advised drivers to maintain an appropriate distance from the car in front of them. These real-time alerts shortened the driver’s reaction time.
The increasing demand for collision avoidance systems in the automotive industry is anticipated to surge the market trend.
Collision avoidance systems that may either assist the driver in avoiding a collision or prevent an accident both on the front and rear sides of the car are therefore becoming increasingly important. Reduced insurance prices for automobiles equipped with collision avoidance systems are also driving the global market for collision avoidance systems. There appear to be more accidents in rush-hour traffic due to a variety of circumstances, including driver attention, exhaustion, insufficient coordination, and some others, that can result in crashes and threaten the lives of others. To provide road safety and reduce the number of car accidents, automotive companies have launched products that have in-built collision avoidance systems which have majorly contributed to the market revenue and profitability. For instance, ZF launched its new Collision Mitigation System (CMS) for city buses in April 2022. The technology uses active braking to assist avoid head-on collisions with other road users such as automobiles, bicycles, and pedestrians. It also helps mitigate the harmful impact of the braking moment on passengers. The technology is suitable for both electric and internal fuel engines. ZF first introduced its City Bus CMS in Europe to sell it globally.
Moreover, Hyundai Motor India Limited (HMIL) debuted the Hyundai IONIQ 5 in India at Auto Expo – The Motor Show 2023 in January 2023. The Hyundai IONIQ 5 will be the company’s first dedicated EV model for consumers who wish to take control of a better, more sustainable future. Furthermore, the Hyundai IONIQ 5 provides Level Next Safety including over 60 safety technologies such as Electric Parking Brake (EPB) and Multi collision-avoidance brake (MCB), assuring maximum customer safety.
At the Safety Pioneers Conference, which was initiated by Union Minister for Road Transport and Highways Nitin Gadkari, Intel brought together leading organizations such as new tech and transport companies, vehicle makers, academic institutions, and authorities to collaborate and bring solutions to tackle road safety-related challenges. To illustrate its commitment to using technology to improve road safety, Intel demonstrated Intel’s Onsite Fleet Services, an AI-powered vehicle safety solution for commercial vehicles, in June 2022. Collision Avoidance system (CAS), Driver Monitoring system (DMS), fleet health, and fuel efficiency are among the characteristics.
During the forecast period, the collision avoidance system market in the European region is foreseen to have a dominating stake.
The collision avoidance system market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. During the forecast period, Europe is anticipated to account for a significant amount of the market share. Vehicles in the European Union must already have automated emergency braking systems, lane departure warning systems, electronic control stabilizers, and automatic braking systems.
Moreover, according to the European Automobile Manufacturers’ Association, the EU passenger car fleet increased by 1.2% in 2021 compared to 2020, with approximately 250 million automobiles on the road. Therefore, due to the developments in the automotive sector in the region, the market is anticipated to flourish during the projected period.
Collision Avoidance System Market Scope:
Report Metric
Details
Market Size Value in 2020
US$10.997 billion
Market Size Value in 2027
US$20.542 billion
Growth Rate
CAGR of 9.34% from 2020 to 2027
Base Year
2020
Forecast Period
2022–2027
Forecast Unit (Value)
USD Billion
Segments Covered
Type, Technology, Industry Vertical, And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered
Robert Bosch Gmbh, Denso Corporation, Autoliv Inc., ZF Friedrichshafen AG, Becker Mining, Collins Aerospace, A United Technologies Company, Hexagon AB, Continental AG, Infineon Technologies AG, Panasonic Holdings Corporation, Hyundai Motor Company, Mossy Toyota
Customization Scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/collision-avoidance-system-market.jpg6261205adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-05-02 11:31:052024-05-10 08:10:30The Implementation of Collision Avoidance System in the Automotive Industry
The 3D sensor market was valued at US$2.423 billion in 2020 and is expected to grow at a CAGR of 12.64% to reach a market size of US$5.576 billion in 2027.
Devices called 3D sensors produce 3D maps of the user’s environment or surroundings in response to the external environment in three dimensions. They are extensively employed in electronic devices to more accurately and thoroughly detail the length, width, and height of real-world objects. These sensors, which can be found in everything from cameras to drones and robots, relay data quickly, use little power, and are portable. Time of flight, structured light, stereo vision, and ultrasound are the technologies included into 3D sensors. The various product types include proximity sensors, temperature sensors, pressure sensors, and image sensors. The growing need for virtualized solutions has increased the use of 3D sensing technology in the robotics sector. Consumer, automotive, drone, and industrial applications all make increasing use of this technology.
Increasing customer demand for 3D-enabled consumer electronics products and declining sensor prices are some of the key factors fueling the market’s expansion. The market will expand as a result of the rising demand for 3D sensors for 3D gaming technology. Due to the extensive usage of 3D sensors and nanotechnology in several applications, the demand for 3D sensors is anticipated to rise throughout the course of the forecast period. One of the main drivers of the market’s expansion is an increase in the need for medical imaging solutions. Other important drivers include an increase in the adoption of image sensors in automobiles and an increase in the demand for security and surveillance systems. Additionally, the market for 3D sensors will see growth due to the increased adoption of 3D depth sensors in various devices and the rising popularity of virtual reality on gaming consoles. The mediocre production quality, however, is likely to limit market expansion during the coming years.
The adoption of 3D sensors in the consumer electronics sector is anticipated to be fueled by the growing integration of AI within the gaming sector
The introduction of augmented reality and virtual reality has greatly increased the appeal of gaming in recent years. The popularity of 3D sensor-based gaming is rising quickly on PCs and gaming consoles. The market for 3D sensors will profit from the increased use of 3D sensors in gaming devices that provide users with a virtual reality experience. Consumer demand for game consoles with virtual reality platforms is rising, improving the gaming experience.
In virtual reality games, the introduction of 3D sensing technology has made it possible for players to control the game with only gestures and without making direct physical contact with the gaming device. Gesture applications convert human gestures (such as those made with the hands, faces, or bodies as a whole) into symbolic instructions for controlling gaming consoles.
The game industry has been incorporating virtual reality and artificial intelligence at a rapid rate throughout the years. To increase user experience and revenue generation prospects, a lot of big game production companies are incorporating virtual reality into their products. For instance, HTC launched its brand-new Vive Cosmos virtual reality headset in India in October 2019. The availability of Oculus Quest and Rift S VR headsets aided the growth of the VR game industry, which in turn is expected to aid the growth of the 3D sensor industry.
Key market developments
Innovative product launches, adaptation across various industry verticals, increased expansion activities, research and development, and market investments, will thereby increase the demand for 3D sensors. For instance,
January 2021: A 3D solid-state LiDAR sensor for industrial applications has been created as a result of a technical partnership between SICK AG and Hamburg-based Ibeo Automotive Systems GmbH, a specialist in automotive LiDAR. The technology was created by Ibeo to meet automotive regulations; it is completely devoid of moving components and is based on a unique photon laser measurement approach. The measurement produced by the sensor gains a “fourth dimension” via an additional, camera-like reference image.
March 2021: With the help of a new 3D sensor technology, the automated queue management system (AQMS) at Kuala Lumpur International Airport (KLIA) has been able to cut wait times to under ten minutes. The AQMS uses internet of things (IoT) technology to precisely count the population in a specific area and proactively check for overcrowding. By providing notifications as needed, it assists ground workers in reinforcing and adhering to service-level requirements and standard operating procedures (SOP).
April 2021: Tempo, a home fitness system that analyses users’ activity using cutting-edge 3D sensors and AI to deliver a personalised training experience, announced $220 million in new funding. With the additional funding, Tempo will continue to develop its AI and 3D sensor technology in order to improve its cutting-edge, real-time form feedback and user assistance capabilities. Real-time form correction, rep counting, and weight recommendation are all made possible by Tempo’s AI-powered 3D sensors, resulting in a more efficient and safe workout.
June 2022: Infineon Technologies AG has developed the REAL3TM automotive image sensor, an ISO26262-compliant high-resolution 3D image sensor, in partnership with pmdtechnologies ag, a specialist in 3D time-of-flight systems. Due to the REAL3 sensor’s excellent resolution, it can also be used for camera applications that require a large field of view, like entire front-row passenger monitoring systems. Insightful airbag deployment and restraint systems require accurate estimations of occupant size and weight, as well as very precise data on passenger and seat position, which are made possible by the resulting 3D body models.
The North American region is expected to hold a significant share of the market in the coming years
Given the technology’s early adoption across a variety of end-use sectors in the region, demand in North America is anticipated to rise steadily during the course of the forecast period. Additionally, the development of 3D sensors has advanced, increasing their usefulness in inspection and measurement applications for the heavy manufacturing sector, allowing businesses to reduce production costs and shorten the product development cycle. Additionally, the industry is expanding as a result of the increasing investments being made in the creation of autonomous vehicles. Elaine Chao, secretary of the U.S. Department of Transportation, claims that more than 1,400 self-driving cars and trucks are now being tested by more than 80 companies throughout the 36 states of the United States. These factors are likely to increase the demand for 3D sensors in the region.
3D Sensor Market Scope:
Report Metric
Details
Market Size Value in 2020
US$2.423 billion
Market Size Value in 2027
US$5.576 billion
Growth Rate
CAGR of 12.64% from 2020 to 2027
Base Year
2020
Forecast Period
2022–2027
Forecast Unit (Value)
USD Billion
Segments Covered
Technology, Type, End User Industry, And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/3d-sensor-market1.png165520adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-05-02 11:31:042024-05-10 13:26:23Gaming Industry to Accelerate the Demand for 3D Sensors
Zinc, as a low-frequency element, is most often obtained by electrolyzing zinc sulfate. Apart from its own application, it is employed in the result of metal production and for coating. Zinc in metal form often goes into the production of nails galvanized as they have the attractive feature of a low melting temperature, and they can bind with iron or steel. To add to this, zinc is indeed an indispensable trace element in the human body. It is part of carbonic anhydrase and is contained in very high concentrations in red blood cells. Zinc as an element, is extremely important for many bodily functions like immune response, wound healing, blood clotting, thyroid activity, and others. Moreover, it is a key factor contributing to seeing and may even possess antiviral features.
Zinc is a very important specific element for humans, animals, plants, and microorganisms. It acts as the backbone of an array of industries – rubber vulcanization, paint, photocopy paper, chemicals, glass and ceramics, water and surface treatment, alloys, cosmetics, pharmaceuticals, plastics, inks, soaps, batteries, textiles, and electric equipment. Zinc oxide is a standard component of sunscreens and a protective element.
Global Production Trends
The zinc chemicals industry, which is gradually experiencing notable growth on major industrial levels, has several substantial driving forces. To be more particular, China is the number one producer in Asia, whose mine production rate in the year 2023 was 4000 mt. This favor in exploitation is due to the benefits as the raw materials are readily available at a cheaper price in the market.
For instance, according to the “International Lead and Zinc Study Group” published article in October 2023 it states that the production of purified zinc metal on a worldwide scale is anticipated to rise by 3.7% to arrive at 13.84 million tonnes in the year 2023. Furthermore, it is anticipated to rise by 3.3% to get to 14.30 million tonnes in the year 2024. The important propelling factor behind the surge will be the significant mine production in China with a predicted output rise of 6.7% in 2023 and 4.1% in 2024.
Zinc oxide is prepared on a large scale as a chemical zinc, which is widely used in paints, tires, sunscreens, and many other products too. The demand for it may increase due to the industry being expanding and people becoming more and more aware of the importance of protection from UV rays. On the other hand, zinc sulfate can function as a tiny fertilizer in agriculture as well as part of an animal feed supplement. Its elaboration is viewed as a positive one through the heavy consideration of upgrading agricultural yields and animal welfare.
Zinc Chemicals Use Cases
The zinc chemicals have several use cases that are enhancing their production and market around the globe. These use cases include agriculture, rubber manufacturing, painting and coating industry, ceramics, glass manufacturing, and pharmaceuticals are boosting the zinc chemicals in various industries, the growing importance towards zinc chemicals is due to increased urbanization and infrastructure developments are increasing the need for zinc chemicals proportionally as they have found in various paints, coatings, glass, and agriculture.
Zinc compounds (“salts”) play a vital role in the production of an extensive array of our daily-use consumer products. None of the oxide pigments have such great importance as zinc oxide which is used in a variety of paints, coatings, and sunscreens due to its capability to block UV rays together with the bright white colour. On the other hand, zinc sulphate performs a vital function in plant nutrition by serving as a micronutrient fertilizer whether it is zinc which plants need for their healthy development. Another advantage of zinc is that zinc sulphate has zinc which will help in livestock feed supplements.
Furthermore, a combination of zinc oxide and ceramic is what results in a smooth finish. Consequently, zinc is involved in some flame-retardant plastics, too. Zinc is added not only to industrial products but also to personal care products. Often anti-dandruff shampoos and zinc pyrithione are incorporated into them which has antifungal properties.
For instance, according to the International Zinc Association published article in 2023, it states that zinc is one of the essential components in the expansion of the construction and infrastructure segment as the corrosion effect is mitigated and the shelf life of building materials is extended significantly. The protective nature of zinc adds up to 60% of total zinc consumption. It matters not whether the process is by galvanizing, applying thermal spray, or using zinc-rich paint.
Market Dynamics and Drivers
Various factors drive the zinc chemicals market, including increased construction activity and the global rise in automotive production. The rise of construction activity is coupled with paints and coatings and increased automotive demand globally is coordinated with components like tires and tubes. The rise in demand for these factors enhances the zinc chemicals market as zinc chemicals are the primary materials used in the production of products like paints, tires, and tubes.
One of the reasons why chemical consumption rises dramatically in the construction industry is the expansion of its development. Zinc and Oxide both of which are catalysts to the construction process achieve significant footfalls. The noticeable off-whiteness of concrete operates in professional productions of paint and cladding, whereas its durable nature provides structures with weather conditions, mainly rough weather conditions. Additionally, zinc which is a component of rubber is rubbed to give the mold in construction for the tires vehicles. The zinc-related industrial products consumption showing signs of boosting with the increase in urbanization and development of infrastructure systems. The various use cases in different industries propel the market for zinc chemicals.
The more manufacturers are producing cars, the higher levels of the zinc chemical production. Zinc is of great importance in ensuring good tune-up of vehicles. Zinc oxide, which is characterized by its versatility, will be used to enhance the wear and tear resistance of tires hence good performance, which is vital, especially in the age of fast automobile manufacturing. The boost in production of automobiles has seen the demand for these zinc-dependent products increase significantly, which has equally pushed the zinc chemicals market into the front.
The zinc chemicals play a vital role in the production of various components of vehicles like tires and tubes with the rise in the vehicle production rate the growth for zinc chemicals will rise proportionally. For instance, according to the International Organization of Motor Vehicles Manufacturers published article in 2023 it states that the production of motor vehicles between the year 2023 with respective The United States in 10,611,555 units.
Figure 1: Vehicle Production in the USA Region (2021- 2023 in Units)
Source: The International Organization of Motor Vehicles Manufacturers (OICA)
Challenges and Constraints
Zinc substances production sector constantly faces a number of issues. The instability of zinc prices is the main limiting factor that can influence the overall cost of the manufacturing process as well as the profitability of manufacturers. Moreover, new environmental regulations with the notion of sustainability in mind could increase firms’ production costs especially when they have to switch to ecological technologies. Additionally, titanium dioxide makes alternative materials of a specific sector, for instance, paints, can also be limited in the use of zinc chemicals. If the zinc chemical sector wants to retain its competitive edge then these challenges must be handled by incorporating cutting-edge technologies to it, by finding new sources for zinc production, and designing new applications of zinc.
Emerging opportunities and Innovations
The zinc chemicals industry comes up with not only fresh and unique ideas but also with new dynamics. There is a lot of research today for the improvement of the performance of what is already available. There is an interesting case of zinc oxide nanoparticles, which can be potentially applied for including self-cleaning coatings and antimicrobial surfaces in their properties. Furthermore, ongoing developments in recycling technologies have led to the emergence of the possibility of producing high-grade zinc from electronic waste, which could be another financially attractive and environmentally friendly alternative to conventional mining processes. Not only is the unique features of zinc being evaluated by researchers for its applications in energy storage and fire prevention but also new avenues are being explored in the market. Looking to disruptive innovations and brave these horizons, zinc chemicals industry will promote sustainable development and environmental protection.
Key Developments
In January 2024: Piramal Pharma launched a product called “Zinc Sulphate Concentration” the concentration is used as an intravenous injection. This injection is designed for pediatric patients with a decreased amount of dosage who weigh under 26 pounds.
At last, concluding that the zinc chemicals market is anticipated to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing The market is driven by the increasing construction activities which propel the demand for paintings, coatings, and glass materials and the growing production rate of motor vehicles globally. There are several challenges to be faced such as instability in the zinc prices and government regulations for sustainable products may hinder the market. Therefore, the industry is projected to maximize on technological advancements and innovations to meet the needs of a growing global demand for zinc chemicals.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/05/zinc-chemicals-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-05-02 05:25:252024-05-02 06:15:05The Advanced Technological Features Fuel the Long-term Viability of Zinc Chemicals
The occupancy sensor market is projected to grow at a CAGR of 12.94% during the forecast period to reach a valuation of US$1,375.279 million by 2027, from US$586.672 million in 2020.
Occupancy sensors are sensors that detect motion thus enabling the detection of space occupancy by the use of a number of advanced technologies like microwave, infrared, radar, ultrasonic, or video image processing. In the absence or presence of a person, these sensors automatically operate the necessary actions, like turning either the HVAC or the light systems to on or off. The sensors are mostly integrated with an IoT network of the building systems to facilitate the efficient management of the occupancy of space along with energy conservation. The innovation and technological advancements of programmable sensors with regard to the precision of detection and efficient performance have enhanced the working of occupancy sensors more than before. The rapidly growing penetration of IoTs along with the increasing development of smart offices, smart homes, as well as smart cities are a few factors that are primarily likely to contribute to the growth of the occupancy sensor market. The global occupancy sensor market is segmented on the basis of the end-user sectors, the types of sensors, and geographical regions.
The burgeoning demand for energy-efficient devices along with the constant development of integrated smart occupancy sensor solutions to augment market growth
In the current times of digitalization, where the world is constantly looking for ways to automate various operational processes, these sensors offer a broad range of opportunities to building owners, right from residential spaces to commercial infrastructures and hospitals. Low energy and resource consumption, along with cost-efficiency are the major appealing factors for this. For instance, these sensors are very actively being employed in offices for the efficient management and utilization of space, meeting room efficiency, as well as desk hoteling, among others, by their installation in multiple strategic locations to detect the motion in areas with high traffic. Due to all these benefits, occupancy sensors are seeing an increasing demand in commercial buildings. A number of occupancy sensor manufacturers are also actively seeking strategic partnerships in order to provide an enhanced user experience. For instance, in January 2022, Sensative, a Sweden-based global IoT solutions provider, and Actility, a key Low Power Wide Area Network connectivity solutions provider for IoTs, entered into a collaborative venture along with joint work with WMW. With this, the former launched an integrated LoRaWAN-enabled IoT desk occupancy monitoring solution. This solution makes use of an active IR sensor for the monitoring of desks. Further, In April 2022, Ambarella and Lumentum entered a partnership for the development of a novel joint reference design for the occupancy sensors. These sensors would combine the latest AI technology with privacy for smart buildings.
The rising investments in the development of smart houses, factories, enterprise buildings and cities drive growth in the market
Smart cities and homes integrate wireless technologies, IoT, and AI together, to allow users remote monitoring and control power management with the use of an integrated platform. These technologies aid the management of the cities for convenient interaction with the infrastructure facilities and also, with the community for the regulations of operations in the area. To accelerate economic growth and improve the quality of life through the application of smart technological solutions, governments of various countries across the globe have been actively developing smart cities. For instance, the Union Ministry of Urban Development under the Government of India has successfully commenced and completed 3577 tendered projects as a part of its National Smart Cities Mission, which is an urban retrofitting and renewal program, investing about INR 60,073 crores in 6939 overall projects. Simultaneously, in November 2021, the South Korean government’s Ministry of Land, Infrastructure, and Transport announced its initiative to commence the development of smart city platforms across the 64 selected medium and small-sized cities via a state project valued at USD 25 million. Similar initiatives being deployed in various parts of the world are fuelling the demand for the occupancy sensor market.
COVID-19 Insight
The outbreak of COVID-19 affected the occupancy sensor market negatively. Several manufacturing industries had to pause their operations due to the implementation of the subsequent lockdowns. The United States and China were the worst affected nations by the COVID-19 pandemic, as they are also two of the largest providers of technology across the globe. Further, the rise in active cases and the mandate of social distancing measures reduced staffing, hence, reducing productivity as well. Additionally, the recession caused in the economy forced several companies to pause many ongoing projects. However, the rising adoption of automation technologies since the pandemic to monitor and regulate the systems remotely has had a positive effect on the market growth for occupancy sensors.
Occupancy Sensor Market Scope:
Report Metric
Details
Market size value in 2020
US$586.672 million
Market size value in 2027
US$1,375.279 million
Growth Rate
CAGR of 12.94% from 2020 to 2027
Base year
2020
Forecast period
2022–2027
Forecast Unit (Value)
USD Million
Segments covered
Sensor Type, Application, End-User, And Geography
Regions covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered
Leviton Manufacturing Company, Lutron Electronics, Acuity Brands, Legrand, Schneider Electric, Cooper Industries, Eaton Corporation Plc, General Electric Company, Philips Ltd, Johnson Controls GmbH
Customization scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/occupancy-sensor-market-1.jpg5191000adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-05-01 12:50:292024-05-10 09:35:31The Burgeoning Occupancy of the Occupancy Sensors Market
The baby toiletries market is expected to grow at a CAGR of 4.26% with a market valuation of US$3.145 billion in 2022 and is expected to reach a market value of US$4.210 billion by 2029.
The market for baby toiletries is propelled by factors such as growing demand for natural and organic products, growing awareness of infant hygiene, parental worries about skin sensitivity, and creative product advancements that address certain baby care requirements.The market for baby toiletries is constantly expanding due to increased parent’s disposable income and growing worries about baby hygiene. The important kinds of stuff required for babies are Infant wipes, shampoo, lotion, oil, and soap.
As per the report, the baby toiletries market is expected to grow at a significant pace.
A desire for safer and kinder products is reflected in the rise in demand for natural and organic components in baby toiletries. Furthermore, cutting-edge ideas like environmentally friendly formulas and biodegradable packaging are becoming more popular. Big businesses are growing their product ranges to address niche markets like infants with delicate skin or allergies. Due to changing consumer choices and rising parental awareness, the industry is predicted to keep growing.
The market is witnessing multiple collaborations and product advancements. For instance, in March 2024, Together, Baby2Baby and Huggies Diapers launched a programme in time for Mother’s Day 2024 to give new moms and newborns the vital support they need. Huggies, through the Kimberly-Clark Foundation, pledged to double the reach and impact of Baby2Baby’s project with The Department of Health and Human Services (HHS) in an effort to address the tragically rising maternal death rate and meet the rising need for diapers in America. The programme addressed the mother and baby health, particularly in vulnerable groups, with a multi-million-dollar gift that included funds and an in-kind product donation of its postpartum pads, wipes, and diapers.
The baby toiletries market is segmented into product type- baby shampoo, baby wipes, toothpaste, and baby bath additives. In the upcoming years, baby wipes are one of the segments in the baby toiletry market that is anticipated to show substantial expansion. This prediction is the result of multiple variables influencing industry trends and customer behavior. The important factor that influences customers is baby wipes because of their convenient and multipurpose properties. These baby wipes are not only used to keep the baby clean and tidy but also used for various purposes like cleaning the baby’s hands, and face. Baby wipes are now recommended in newborn baby’s homes not only due to its safety level but also due to the fact that parents in nowadays are mostly busy and so they always need their baby care items to be easy to use. Besides, unsanitary waste output and the effect of COVID-19 across the world are the main symbols making environmental pollution gradually worsen. The global distress and impacts of the COVID-19 situation have made the importance of products like sanitizers and disinfectants much clearer. This has impacted the demand for baby wipes, as consumers prefer their quick and easy use to clean the child. The innovative baby wipes that are produced using natural ingredients are drawing the attention of parents who are well-versed with naturally obtained baby products these days contributing to the overall expansion of the baby segment. With the growing concerns towards environment-friendly products, increased knowledge about cleanliness and hygiene, and sustainability choices, the baby wipes segment is composed for significant growth, and hold a stronger market share of the baby toiletries market in the future days.
The baby toiletries market can be segmented based on the distribution channel-Offline and online distribution channel. Baby toiletries are sold in stores and online. Online shopping grows quickly due to its convenience and flexibility where people like buying products from phones. They can find many items on other platforms so that parents compare prices and opt for good price slabs over the shopping easily. Online shops provide a large selection, even specialty goods. COVID-19 made people shop online more to stay safe. Online baby toiletries sales will likely keep rising in the upcoming days due to a shift towards online shopping. However, offline stores still matter, and supermarkets and baby shops remain important for urgent requirements. Some people prefer in-person shopping or getting products immediately.
The sales of baby toiletries in the Asia-Pacific Region have climbed enormously in the past years, fuelled by many factors, which are the most important ones listed below. The regionally local baby care market landscape has inclined to rise up with many factors behind, including the shifts into urbanization, the rise of the middle class, knowledge about basic needs in the rise and lastly the presence of sanitation leading to better health. The number of parents who are looking to purchase high–quality goods for their infants is on the increase and countries like China, India, Japan, and South Korea have maintained their position as significant contributors to the progress of the infant product business. Furthermore, online retail channels have been the other associated trend, and the Western styles have impulse the market penetration and given people have option to get many varieties of infant toiletry goods. As such, consumers have been presented with more biodegradable, race-based, and innovative solutions, by the aspiring manufacturing companies in this area, consequentially fuelling the market growth. Another key trend is a shift towards fragmentation with an emphasis on natural and organic elements which resonates with the consumers’ preferences to the safe and sustainable alternatives. Moreover, the Asian-Pacific region’s emergence as a big factor in this market is a positive sign, implying that the demand for these products is likely to remain strong and grow in the future where drivers such as consumer consciousness, buying capacity, and product innovation are still strong.
As a part of the report, the major players operating in the baby toiletries market that have been covered are Warner Chilcott (The Procter & Gamble Company), Johnson & Johnson Consumer Inc, Kimberly-Clark Corporation, Invest Industrial Holdings (Artsana S.p.A.), California Baby.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/04/baby-toiletries-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-05-01 11:45:142024-10-01 11:05:35Baby Toiletries Market is projected to grow at a CAGR of 4.26% to reach US$4.210 billion in 2029
Computer Graphics Capturing the Entertainment Industry
BlogThe computer graphics market is expected to grow at a CAGR of 6.47%, reaching a market size of US$45.436 billion in 2030 from US$30.463 billion in 2025.
Graphics refers to anything that can be represented visually or graphically. GPU designs, user interface design, 3D modelling, and computer vision are all aspects of computer graphics. Often, rather than using images, visuals are misconstrued using sounds and phrases that also include letters and numbers. Images that are displayed on screens, as well as graphics that are created and altered by computers, are the main components of computer graphics. They are either two-dimensional (2D) or three-dimensional (3D). Before, computers could only produce a limited number of 2-dimensional images, but now the computer graphics market is being driven by advances and developments in technology. A personal computer or desktop is the primary requirement for accomplishing this, and in addition, new, specialised software, some hardware, and other elements are required for these visuals.
The substantial rise in smartphone adoption worldwide and the rapid expansion of the IT sector are credited with the surge. In addition, more and more industries are demonstrating a preference for the implementation of automation technologies, largely to increase production and efficiency. As a result, more computer systems will be needed to run automated solutions like robotics, machines, and analytical tools, among others. This is one of the main drivers fueling the expansion of the computer graphics market. Additionally, the worldwide increase in gamers and the development of 3D and 4D technologies are some other elements that will support the demand for computer graphics solutions in the years to come. Furthermore, a significant factor that is anticipated to fuel market expansion is the rising need for computer graphics in the entertainment sector.
The adoption of computer graphics in the gaming and entertainment industries will fuel market expansion
The entertainment and media sectors’ increasing use of image processing and 3D animation techniques is boosting the market for computer graphics. The nature of computer graphics has changed significantly in recent years, and these new developments have swiftly altered the market. Computer graphics are being used in filmmaking for a wide range of purposes, including character creation, the inclusion of special effects, etc. Another major factor that is predicted to increase demand for computer graphics in the entertainment industry for the construction of fully functional imagery models is advancements in computer technology.
Online gaming has become more accessible and popular as smartphones and tablets have become more common. With the rise of this trend came an enormous number of free video games, creating a brand-new market for individuals in the computer graphics sector. The market for computer graphics games is becoming more and more popular because of the development of VFX technology as well as the growing need for live experiences of places and events. Additionally, in order to increase the variety of games offered on the market, independent game makers are teaming up with bigger entertainment companies. For instance, in May 2022, three new Radeon RX 6000 Series graphics cards from AMD were launched, along with the first games that would support AMD FidelityFX Super Resolution 2.0. In comparison to previous-generation products, these three revised versions offered faster game clocks, faster GDDR6 memory, and improved software and firmware. They also provided remarkable performance-per-watt based on AMD RDNATM 2 technology. Thus, due to the growing use of computer graphics in the entertainment sector, the market for computer graphics is anticipated to expand.
Key market developments
New partnerships and collaborations, innovative product offerings, research and development, and market investments will thereby increase the demand for computer graphics. For instance,
The North America region is expected to hold a significant share of the market in the coming years
North America is predicted to be the most lucrative region in terms of market share. A number of companies, including Autodesk Inc., Adobe Systems Inc., Siemens PLM Software, Microsoft Corporation, and others, are major suppliers of computer graphics hardware components and application software in the area. This is because there are several visual effects (VFX) businesses in the area, including some of the best ones, such as Walt Disney Animation Studios, DreamWorks Animation, Warner Bros. Animation, and Industrial Light & Magic. Due to ongoing developments in the fields of movies, streaming material, television and advertising, broadcasting, music, radio and audio recordings, video games, book publishing, and others, the media and entertainment business is expanding significantly across the United States. These factors are likely to increase the demand for Computer graphics in the region.
The Access Control Market – Modified and Enhanced Product Offerings by Global Companies
Thought ArticlesThe access control market is estimated at US$6.637 billion for 2020, growing at a CAGR of 7.52% to reach a market size of US$11.029 billion by 2027.
As digital technology has advanced, it has become increasingly challenging for organizations to function in an environment exposed to malware assaults. All contemporary businesses must secure their physical and intellectual property assets, as well as the security of their employees, by restricting the movement of individuals according to predefined regulations. One of the key elements driving the increased need for access control systems is the growing necessity for protecting today’s corporate landscape. With so much data being created through different digital platforms, it has become a precious resource, and hackers are eager to monetize it to gain money and conduct fraud. The usage of access control systems offers protection for both employers and workers by safeguarding personnel from any potential events that may occur at the workplace or elsewhere. The system also has a log-keeping feature, which increases responsibility. The installation of access control systems helps to increase the safety and security of workplace environments. Therefore, this is one of the primary reasons that is contributing to the market’s growth for the upcoming years.
Vanderbilt Industries, Gemalto NV, Honeywell International Inc, IDEMIA, Matrix Comsec Pvt. Ltd., Brady Corporation, Tyco International, Protection One, NEC Corporation, Siemens, Hangzhou Hikvision Digital Technology Co., Ltd., HID Global Corporation, and others are a few key major players in the access control market.
Honeywell International Inc is a publicly listed American multinational firm based in Charlotte, North Carolina. Its primary business lines include aircraft, building technologies, specialty materials and technology, and security and productivity solutions. Honeywell showcased its finest fire and security products at the ISC West 2019 exhibit in April 2019. OmniAssure Touch, a new line of access control readers, is interoperable with Honeywell’s existing security suites, which include WIN-PAK, WINMAG, and Pro-Watch. The firm is committed to developing life safety technologies that employ connectivity to help build a smarter and safer society. Furthermore, Honeywell announced the release of MPA2 and MPA1, access control panels with cloud, web-based, or on-premises hosting options, in February 2021, to expand the functionality of its MAXPRO Cloud portfolio.
Gemalto NV, is a global digital security firm that offers application software, protects private devices including smart cards and credentials, and professional services. It is headquartered in Amsterdam, Netherlands. Furthermore, Thales acquired the worldwide security business Gemalto in early 2019 and integrated it with its current digital assets to form a new pioneer in digital security. Thales introduced CipherTrust Manager, a rebranded version of Next Generation KeySecure, in July 2020. CipherTrust Manager enables enterprises to manage data encryption lifecycles and policies centrally, regardless of where the data sits, and assists them in meeting data privacy and compliance standards. All access control and encryption operations are subject to role-based access restriction.
NEC Corporation based in Minato, Tokyo, is a Japanese multinational electronics and information technology corporation. NEC Corporation of America, a global tech integrator of sophisticated IT, communications, connectivity, and biometric modalities solutions, announced the formation of NEC National Security Systems, Inc. It is a completely owned subsidiary of NEC that solves challenges and creates opportunities for public officials and people by utilizing world-class technology. Moreover, identity and biometric technology, artificial intelligence, and machine learning are among the solutions that are transforming the way government does operations. Based on an established Special Security Agreement with the American Government, NEC NSS is established as a Foreign Ownership, Control, or Influence (FOCI)-restricted subsidiary. It will offer biometric software and hardware as part of integrated solutions for global defense, intelligence, defense, immigration, and law enforcement. The Department of Homeland Security, the Department of Justice, the Department of State, the Department of Defense, and the United States intelligence community are the primary clients of NEC NSS.
Access Control Market Scope:
Innovations in Solar Panel Recycling Technology: Path to Sustainability
BlogSolar panel recycling is widely used in the process of reducing harmful impacts on the environment and providing a sustainable future. These solar panels are used in different commercial and residential areas to provide clean and sustainable energy through this advanced renewable energy resource. The need for recycling these solar panels is growing with the widespread adoption of these solar renewable energy resources across the globe. When the solar panels are recycled they can be reused by these commercial and residential end-users to get clean energy rather than increase waste by not recycling these solar panels which can increase the harmful impact on the environment.
These solar panel recycling process or services is widely adopted by several clean energy providers that manufacture these solar panels to recycle and reuse these solar panels and save the harmful impact on the environment. The recycling process of these solar panels includes removing of junction box and frame while using chemical, thermal, or mechanical processes to separate the silicon wafer and the glass. Then after separating by the use of several different electrical and chemical techniques the purification is done for silicon cells as well as for special metals like copper, silver, and lead. This whole process makes the discarded and already used solar panels ready to be used as a clean energy resource in different commercial and residential areas.
Global Production Trends
The production of solar panel recycling has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand due to rising environmental concerns. For instance, factors such as rapid growth and popularity in the clean energy industry that needs effective recycling options for these different renewable energy resources such as solar panels to make the environmental conditions more clean and sustainable are making several clean or renewable energy manufacturers adopt these solar panel recycling into their devices to grow the sales.
In recent years, there has been a notable increase in the production of solar panel recycling techniques and services in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the renewable energy industry that includes solar energy or solar panels that require effective and reliable recycling techniques to attract customers to buy their solar panels to reduce their cost and achieve sustainability. These solar panel recycling have a diverse set of applications for different commercial users and residential users as well which is why several governments across the globe are heavily investing in research and developing effective and reliable recycling techniques for these solar panel recycling which has significantly grown their production globally.
Solar panel recycling use case
The use of solar panels in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for clean energy and achieving a sustainable future with the use of renewable energy resources like solar panels and then again recycle them to reduce the waste that can negatively impact the environment. Renewable energy resources such as solar panels or wind turbines are one of the fastest-growing segments of the renewable energy market among all the others, therefore, different end-users and other industries like commercial offices are using these solar panels to use clean and green energy.
These solar panels can be recycled by these different commercial end-users when they are outdated or not working properly. The growing recycling of these solar panels results in less waste that is caused by them and makes a step forward towards achieving sustainability by recycling and reusing these solar panels. Therefore, the growing adoption of these solar panels and awareness about recycling and reusing them is increasing the use cases for these solar panel recycling.
The growth in the applications of solar panel recycling in achieving sustainability worldwide has made the production and development of techniques and devices necessary for recycling these solar panels much more prominent and increased in numbers over the years as renewable energy resources like solar energy are growing in demand rapidly. The need for suitable recycling techniques for achieving sustainability and a green future is growing in demand which is why these are being adopted by different clean energy resource manufacturers which has further increased the use case for these solar panel recycling among the different end-users.
The growing environmental concerns have led to significant growth in the investments made by governments across the globe towards different renewable energy resources and recycling techniques. This has made different research and development centers get proper funding to experiment and create effective and reliable recycling techniques for these solar panels that can reduce the harmful impact on the environment as well as achieve sustainability.
The growing investments and adoption of solar panel technology are resulting in increasing the use cases for solar panel recycling. The more these solar panels are used the need for recycling the decommissioned or used solar panels will increase proportionally. For instance, in the United States, the use of solar panels in the utility sector was at 116,856.8 MWdc capacity and the residential sector was at 36,268.2 MWdc capacity in the year 2023.
Figure 1: Segmentation of the United States solar Installations in the Year 2023 (in Megawatts Direct Current)
Source: seia.org
Market Dynamics and Drivers
Several factors drive the solar panel recycling market, including a rise in applications for them across different industrial applications like commercial and residential areas in recent times coupled with the rise in demand for sustainable and reliable energy resources among the general public. The growing environmental concerns like global warming and climate change are the significant factors that are raising awareness among the general public and governments to adopt recycling methods for these solar panels to reduce any harmful waste that may be produced by the waste of used and decommissioned solar panels. The growing investments in research and development of new and effective recycling techniques and spreading awareness about clean energy solar energy panels are significantly fueling the solar panel recycling market over the forecast period.
The development and innovation in different solar panel recycling techniques made for recycling new and innovative solar panels across the globe is one of the growth factors in the solar panel recycling market. The use of innovative recycling techniques in the solar energy industry is significantly impacting the demand for solar panel recycling in the market. This happens because the more people adopt and use solar panels globally the more the need and demand for effective solar panel recycling services will increase across the globe.
The growing global demand and installation of these solar panels are one of the key factors that is growing the demand for suitable recycling services for these solar panels to reduce waste and achieve sustainability. The reduced prices of these solar panels are leading to their widespread adoption which in turn will increase demand for these solar panel recycling globally. For instance, in the United States, the cost of solar installation has dropped by 40% over the last 10 years. Also, the growing global adoption of solar energy is expected to significantly boost the market for solar panel recycling over the forecast period. For instance, the global solar deployment was estimated at 350 GWdc and is anticipated to reach 590 GWdc by the year 2027.
Figure 2: Growth in Global Solar Deployment, From the Year 2023-27 (in Gigawatts Direct Current)
Source: energy.gov
Key Developments
In conclusion, the solar panel recycling market presents significant opportunities for growth and innovation, driven by the increasing popularity of sustainable and renewable energy resources around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative solar panel recycling solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for solar panel recycling.
A Double-Layer Assurance of Security Through Multi-Factor Authentication
Thought ArticlesThe multi-factor authentication market is projected to grow at a CAGR of 16.88% during the forecast period to reach US$34.497 billion by 2027, up from US$11.543 billion in 2020.
While signing into an online account the user has to go through a process of proving to the service that the user logging in is the true user of that account, this process is called authentication. Traditionally, the service provider used to perform the authentication technique only with the username and a password. However, it is not a very safe way to do it, since, the usernames and passwords are easy to discover. Henceforth, to aid these issues and to add more security to the user’s account many online services like social media platforms, banks, and shopping have added multi-factor authentication. A user is authenticated and given access to an application, web portal, or VPN through a variety of authentication mechanisms using multifactor authentication, which is an electronic authentication security solution. In order to prevent unauthorized personnel from accessing a target, such as computing equipment, network, physical location, or database, MFA seeks to create a layered defense. The multi-factor authentication market is segmented into type, application, and geographical regions.
The increasing demand for cloud computing, smartphones coupled with wider internet accessibility, and the growing security breaches are expected to drive the multi-factor authentication market.
The demand for cloud computing is witnessing a growing trend in the past few years, owing to its benefits such as flexibility, efficiency, control choices, and security features among others. Cloud computing delivers numerous computing services which include servers, storage, database, networking, software, analytics, and intelligence. Furthermore, cloud computing services reduce the burden of owning a computing infrastructure or data center for companies. Organizations have a simple option to get rent access to anything from applications to storage from a cloud service provider. These cloud computing services allow companies and organizations to cut their upfront cost and complexity of owning and maintaining their own IT infrastructure. However, with the rising shift of organizations toward cloud computing has given rise to security issues. The number of security breaches has grown exponentially. According to IBM’s cost of data breach report 2022, the global average total cost of a data breach accounts for US$4.35 million. The total share of breaches due to ransomware grew by 41% in 2021. Such an increasing number of cyber-attacks, security breaches, and the growing trend of cloud computing has consequently given rise to security-related concerns for the end users. Henceforth, the growing security concerns are expected to propel the multi-factor authentication market in the coming years.
Furthermore, the growing population of smartphone users and the diverse use of smartphones for banking, gaming, education, social media, and work among others are giving rise to the demand for secure, rapid, and easy authentication processes. The rising online transactions through online banking and the high adoption of fast payment methods are due to the growing penetration of smartphones. Moreover, the spurt in e-commerce and mandatory laws by the banks for secure transactions through strong authentication measures is expected to propel the multi-factor authentication market. Additionally, this rising use of mobile banking is expected to increase the demand for OTP authentication. Henceforth, to secure transactions through these electronic devices and protect consumers from any fraudulent attacks, multi-factor authentication is used. Also, the integration of these authentication systems by the banking, healthcare, and retail sectors are creating growth opportunities for the multi-factor authentication market during the anticipated period.
The strict compliances imposed by several governments from numerous countries are further driving the market despite the rising number of data breaches. Thus, the multifactor authentication market is expanding as a result of increasingly strict compliance requirements and numerous organizations’ initiatives to create and implement improved authentication solutions.
It is expected that the two-factor authentication model will witness significant growth during the forecast period.
Based on the model, the multi-factor authentication market can be segmented into two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. The two-factor segment is anticipated to experience a significant revenue increase over the projected period based on the authentication model. Two-factor authentication adds an extra layer of protection to the user’s account. Under this authentication model, a user is required to fill in the username and password details, and then the user is directed towards another requirement of fulfilling the information instead of getting direct access to the account. This second factor allows the second level of security in case the user’s password or username is compromised. Furthermore, the importance of two verification elements is increasing as more firms and industries, including those in banking, healthcare, and insurance, employ online transactions. The market’s need for two-way authentication models is being driven by benefits including quicker transactions and shorter password reset and authentication times. High productivity, reduced management and help desk costs as a result of fewer customer inquiries, and other reasons are also anticipated to contribute to the two-factor authentication model segment’s revenue growth over the projected period.
Based on Geography, the North American region is expected to hold a dominant share in the multi-factor authentication market during the forecast year.
Based on geography, the multi-factor authentication market is segmented into North America, South America, Europe, the Middle East and Africa (EMEA), and the Asia- Pacific. The analysts anticipate that the North American region will hold a significant share of the multi-factor authentication market during the forecast period. The prime factor driving the growth of this market in the North American region are stringent data security policies and widespread cloud deployments. For instance, the USA has a different mix of laws for data privacy like HIPAA (health insurance portability and accountability law), FERPA (family education rights and privacy act), and ECPA (Electronic Communications Privacy Act) among others. Furthermore, the high adoption of cloud-based applications in North America is giving rise to cyber-attacks in this region. For instance, in January 2021 over 30,000 US businesses were affected by the sweeping attack on Microsoft Exchange email servers. The hackers were able to gain unauthorized access to emails from small businesses to local governments. For another instance, Facebook, one of the world’s largest companies dealt with a security breach in April 2021. This massive data breach resulted in the leaking of names, phone numbers, account names, and passwords of over 530 million users. These instances are becoming more and more frequent in the past few years in this region. henceforth, data security has become a major concern in countries like US and Canada, which is expected to propel the market for multi-factor authentication during the stipulated period.
Multi-Factor Authentication Market Scope:
The Rising Nutritional Value of the Global Infant Formula Market
Thought ArticlesThe infant formula market is projected to grow at a CAGR of 5.42% to reach a market size of US$78.639 billion by 2028, up from US$54.330 billion in 2021.
The infant baby formula comprises a formula for newborns aged 0 to 6 months. They are advised if breastfeeding is in short supply or to augment the baby’s nutrition. The simplicity of feeding, the nutrition mix, and the choice of milk and soy-free milk varieties make these goods a viable alternative, particularly for working mothers. These items are available in fluid, powdered, and prepared forms, with dairy serving as the primary component in all of them.
The increase in the number of women working outside the house is the primary driver of the market. Furthermore, increased knowledge regarding the high nutritious content of infant formula drives the market growth.
Before giving the powdered version of infant formula to the baby, it must be mixed with water. Because of its appropriateness as a replacement for human milk, this formula is only intended for special dietary usage as a meal for newborns. It contains a variety of nutrients that are necessary for newborns’ general development and growth, making it a popular option among working women who are unable to nurse their kids on time.
Moreover, companies have expanded their operations by collaborating with other firms in addition to launching natural and organic products that have surged the market trend in the upcoming years. For instance, Else Nutrition, a maker and distributor of cleansing components, plant-based nutritional products, and organic baby formulas developed with a proprietary buckwheat, almond formula, and tapioca, was launched in February 2020. Therefore, such innovative and clean product launches are expected to positively contribute to the market size.
The rising number of working women in addition to the high preference of the market by consumers will drive the market share.
According to the World Bank, Panama, Portugal, Spain, Chile, and, Korea are the five nations’ whose income and female labor force participation increased significantly in 2020. Chile’s GDP per capita climbed to $12,954, while female labor force participation rose to 45 percent. Furthermore, governments have initiated several schemes to increase women in labor. The Ministry of Women and Child Development in India created the STEP Scheme (Support to Training and Employment Programme for Women), which seeks to offer women employability skills as well as competencies and skills that allow women to become self-employed/entrepreneurs. The Scheme is meant to help women in the nation who are 16 years of age or older.
Therefore, the growing number of working women worldwide has prompted baby food firms to offer nutrition-rich supplements to meet the need for easy feeding. Many women return to work soon after giving birth, and baby formula is ideal for these mothers since it is simple to prepare and takes less time. In addition, corporations are using eco-friendly packaging materials, which has increased the growth potential for significant players. Furthermore, infant formula contains different nutritious properties than human breast milk, which increases market acceptance. Protein utilization as a component in diverse uses such as milk supply and specialty formula is predicted to drive up demand for baby formula ingredients in the coming years.
The emerging initiative by the companies to include nutritional value in the infant formula is anticipated to surge the market demand.
The worldwide infant formula industry is expected to increase rapidly due to the growing demand for organic baby food for children below the age of five. The growing prevalence of malnutrition among children and newborns has increased the need for baby formula. Because newborns lack the necessary muscles and teeth to chew properly, baby food and baby formula serve as their major sources of nutrition. Nowadays, parents are becoming more conscious of the importance of proper nutrition in their child’s general growth and development. As an outcome, they are gravitating toward nutrient baby food and newborn formula. These items are often available in powdered form that may be blended with milk or water. Aside from that, as consumer awareness grows, producers are producing natural, gourmet, baby food, and infant formula versions to improve sales.
Consumers’ increased awareness of ingredient and content labelling has driven corporations to develop clean-label manufacturing. For instance, in March 2021, 108LABS introduced Colostrupedis, an animal-free infant baby formula made of cell-cultured human milk molecules generated from human mammary cell farming and fortified with widely neutralizing human secretory antibodies.
Furthermore, Danone developed the new Dairy & Plants Blend infant formula in July 2022 to address parents’ need for a vegetarian, flexitarian, and plant-based feeding alternative while still providing their baby’s precise nutritional requirements. Danone has developed this innovative dairy & plant-based infant formula mix based on 50 years of clinical breastfeeding research and its tradition of expertise in plant-based foods through well-known brands such as Alpro & Silk.
During the forecast period, the global infant formula market in Asia Pacific is predicted to have a dominating share.
The global infant formula market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. During the forecast period, the Asia Pacific is projected to hold a significant amount of market share due to the rise of online pharmacies and retail outlets. The adoption has been fueled by growing demand for organic baby food and increased knowledge about the health of newborns. Due to the rising impact of infant mortality rates and stunting, India implemented a variety of initiatives to reduce the number of malnutrition children in the country. POSHAN Abhiyaan, for example, aims to reduce childhood malnutrition by delivering intensive health and nutrition assistance for the first 1000 days, with real-time monitoring. The Indian government pushed the use of baby formula for moms who were unable to breastfeed through this effort. From October 2020 to March 2021, according to the most recent POSHAN JAN ANDOLAN survey, about 7,315,163 children under the age of 5 received all policy benefits. Additionally, on September 29, 2022, Else Nutrition Holdings Inc. established its flagship Chinese store on Tmall Global, and the business is offering Else Nutrition Toddler Formula and Baby Cereal items directly to Chinese consumers. Else’s entry into the Chinese market marks the company’s third foreign market.
Global Infant Formula Market Scope:
The Implementation of Collision Avoidance System in the Automotive Industry
Thought ArticlesThe collision avoidance system market is expected to grow at a 9.34% CAGR from $10.997 billion in 2020 to $20.542 billion by 2027.
A collision avoidance sensor system is used to identify objects or impediments in their path and assist them in avoiding a collision. The global market for collision avoidance sensors is expanding due to increased demand in the industrial, construction, and automotive industries. Because of the growth in global accidents and the advent of automated car assistance systems, there is a larger demand for improved sensory technologies. Suppliers have begun to introduce element-specific car sensors to provide the maximum level of precision. The worldwide collision avoidance system market is expected to rise due to reasons such as a surge in demand for sports utility vehicles (SUVs) and high-end luxury cars and utility vehicles, as well as an increase in demand for automated vehicles.
The increasing adoption of high-speed rail by emerging nations is driving market expansion for train accident avoidance systems, while obstacles such as significant initial capital investment in railroads may stymie market growth.
However, the worldwide collision avoidance system market is hampered by the cyclical nature of automobile sales and manufacturing, as well as high installation costs. On the contrary, rising automotive safety standards, more electronic integration in automobiles, and the installation of advanced driver assistance systems in passenger vehicles are likely to generate lucrative possibilities for the collision avoidance system sector.
The initiatives taken by the government in addition with companies to implementing collision avoidance systems will propel market growth.
The rising initiatives taken by governments and companies to implement collision avoidance systems have significantly impacted the market size. For instance, the East Central Railway (ECR) zone of Indian Railways established the ‘Kawach’ system in February 2022 to ensure the smooth operation of trains passing through the zone. A tender for the installation of the system has been issued for Rs 151 crore. In Budget 2022, Finance Minister Nirmala Sitharaman announced the implementation of ‘Kawach,’ an indigenously designed anti-collision technology.
Additionally, Toposens, a Munich-based high-tech firm, introduced the Toposens 3D COLLISION AVOIDANCE SYSTEM for mobile robots in July 2022, based on the unique Toposens 3D ultrasonic echolocation technology. Toposens PROCESSING UNIT and Toposens 3D Ultrasonic Echolocation Sensor ECHO ONE with advanced filters for 3D collision avoidance are now available, having undergone extensive commercial testing in real-life industrial applications with prominent mobile robotic firms.
Furthermore, Project iRASTE, a collaboration between the Telangana Government, INAI, Intel India, IIIT-Hyderabad, Mahindra & Mahindra, Central Road Research Institute, and Nagpur Municipal Corporation (NMC), promotes safer driving behaviors and would help reduce accidents. The project intelligent solutions for road safety via technology and engineering (iRASTE) seeks to make roadways safer. The AI-powered Collision Avoidance System (CAS) kept a constant eye on the road ahead. It warned drivers of probable pedestrian accidents, lane deviations, and forward collisions. In consideration of this, collision avoidance systems have been put on 50 buses in Nagpur for a pilot study to determine their usefulness in increasing public transportation bus safety. The system advised drivers to maintain an appropriate distance from the car in front of them. These real-time alerts shortened the driver’s reaction time.
The increasing demand for collision avoidance systems in the automotive industry is anticipated to surge the market trend.
Collision avoidance systems that may either assist the driver in avoiding a collision or prevent an accident both on the front and rear sides of the car are therefore becoming increasingly important. Reduced insurance prices for automobiles equipped with collision avoidance systems are also driving the global market for collision avoidance systems. There appear to be more accidents in rush-hour traffic due to a variety of circumstances, including driver attention, exhaustion, insufficient coordination, and some others, that can result in crashes and threaten the lives of others. To provide road safety and reduce the number of car accidents, automotive companies have launched products that have in-built collision avoidance systems which have majorly contributed to the market revenue and profitability. For instance, ZF launched its new Collision Mitigation System (CMS) for city buses in April 2022. The technology uses active braking to assist avoid head-on collisions with other road users such as automobiles, bicycles, and pedestrians. It also helps mitigate the harmful impact of the braking moment on passengers. The technology is suitable for both electric and internal fuel engines. ZF first introduced its City Bus CMS in Europe to sell it globally.
Moreover, Hyundai Motor India Limited (HMIL) debuted the Hyundai IONIQ 5 in India at Auto Expo – The Motor Show 2023 in January 2023. The Hyundai IONIQ 5 will be the company’s first dedicated EV model for consumers who wish to take control of a better, more sustainable future. Furthermore, the Hyundai IONIQ 5 provides Level Next Safety including over 60 safety technologies such as Electric Parking Brake (EPB) and Multi collision-avoidance brake (MCB), assuring maximum customer safety.
At the Safety Pioneers Conference, which was initiated by Union Minister for Road Transport and Highways Nitin Gadkari, Intel brought together leading organizations such as new tech and transport companies, vehicle makers, academic institutions, and authorities to collaborate and bring solutions to tackle road safety-related challenges. To illustrate its commitment to using technology to improve road safety, Intel demonstrated Intel’s Onsite Fleet Services, an AI-powered vehicle safety solution for commercial vehicles, in June 2022. Collision Avoidance system (CAS), Driver Monitoring system (DMS), fleet health, and fuel efficiency are among the characteristics.
During the forecast period, the collision avoidance system market in the European region is foreseen to have a dominating stake.
The collision avoidance system market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. During the forecast period, Europe is anticipated to account for a significant amount of the market share. Vehicles in the European Union must already have automated emergency braking systems, lane departure warning systems, electronic control stabilizers, and automatic braking systems.
Moreover, according to the European Automobile Manufacturers’ Association, the EU passenger car fleet increased by 1.2% in 2021 compared to 2020, with approximately 250 million automobiles on the road. Therefore, due to the developments in the automotive sector in the region, the market is anticipated to flourish during the projected period.
Collision Avoidance System Market Scope:
Gaming Industry to Accelerate the Demand for 3D Sensors
BlogThe 3D sensor market was valued at US$2.423 billion in 2020 and is expected to grow at a CAGR of 12.64% to reach a market size of US$5.576 billion in 2027.
Devices called 3D sensors produce 3D maps of the user’s environment or surroundings in response to the external environment in three dimensions. They are extensively employed in electronic devices to more accurately and thoroughly detail the length, width, and height of real-world objects. These sensors, which can be found in everything from cameras to drones and robots, relay data quickly, use little power, and are portable. Time of flight, structured light, stereo vision, and ultrasound are the technologies included into 3D sensors. The various product types include proximity sensors, temperature sensors, pressure sensors, and image sensors. The growing need for virtualized solutions has increased the use of 3D sensing technology in the robotics sector. Consumer, automotive, drone, and industrial applications all make increasing use of this technology.
Increasing customer demand for 3D-enabled consumer electronics products and declining sensor prices are some of the key factors fueling the market’s expansion. The market will expand as a result of the rising demand for 3D sensors for 3D gaming technology. Due to the extensive usage of 3D sensors and nanotechnology in several applications, the demand for 3D sensors is anticipated to rise throughout the course of the forecast period. One of the main drivers of the market’s expansion is an increase in the need for medical imaging solutions. Other important drivers include an increase in the adoption of image sensors in automobiles and an increase in the demand for security and surveillance systems. Additionally, the market for 3D sensors will see growth due to the increased adoption of 3D depth sensors in various devices and the rising popularity of virtual reality on gaming consoles. The mediocre production quality, however, is likely to limit market expansion during the coming years.
The adoption of 3D sensors in the consumer electronics sector is anticipated to be fueled by the growing integration of AI within the gaming sector
The introduction of augmented reality and virtual reality has greatly increased the appeal of gaming in recent years. The popularity of 3D sensor-based gaming is rising quickly on PCs and gaming consoles. The market for 3D sensors will profit from the increased use of 3D sensors in gaming devices that provide users with a virtual reality experience. Consumer demand for game consoles with virtual reality platforms is rising, improving the gaming experience.
In virtual reality games, the introduction of 3D sensing technology has made it possible for players to control the game with only gestures and without making direct physical contact with the gaming device. Gesture applications convert human gestures (such as those made with the hands, faces, or bodies as a whole) into symbolic instructions for controlling gaming consoles.
The game industry has been incorporating virtual reality and artificial intelligence at a rapid rate throughout the years. To increase user experience and revenue generation prospects, a lot of big game production companies are incorporating virtual reality into their products. For instance, HTC launched its brand-new Vive Cosmos virtual reality headset in India in October 2019. The availability of Oculus Quest and Rift S VR headsets aided the growth of the VR game industry, which in turn is expected to aid the growth of the 3D sensor industry.
Key market developments
Innovative product launches, adaptation across various industry verticals, increased expansion activities, research and development, and market investments, will thereby increase the demand for 3D sensors. For instance,
The North American region is expected to hold a significant share of the market in the coming years
Given the technology’s early adoption across a variety of end-use sectors in the region, demand in North America is anticipated to rise steadily during the course of the forecast period. Additionally, the development of 3D sensors has advanced, increasing their usefulness in inspection and measurement applications for the heavy manufacturing sector, allowing businesses to reduce production costs and shorten the product development cycle. Additionally, the industry is expanding as a result of the increasing investments being made in the creation of autonomous vehicles. Elaine Chao, secretary of the U.S. Department of Transportation, claims that more than 1,400 self-driving cars and trucks are now being tested by more than 80 companies throughout the 36 states of the United States. These factors are likely to increase the demand for 3D sensors in the region.
3D Sensor Market Scope:
The Advanced Technological Features Fuel the Long-term Viability of Zinc Chemicals
Thought ArticlesZinc, as a low-frequency element, is most often obtained by electrolyzing zinc sulfate. Apart from its own application, it is employed in the result of metal production and for coating. Zinc in metal form often goes into the production of nails galvanized as they have the attractive feature of a low melting temperature, and they can bind with iron or steel. To add to this, zinc is indeed an indispensable trace element in the human body. It is part of carbonic anhydrase and is contained in very high concentrations in red blood cells. Zinc as an element, is extremely important for many bodily functions like immune response, wound healing, blood clotting, thyroid activity, and others. Moreover, it is a key factor contributing to seeing and may even possess antiviral features.
Zinc is a very important specific element for humans, animals, plants, and microorganisms. It acts as the backbone of an array of industries – rubber vulcanization, paint, photocopy paper, chemicals, glass and ceramics, water and surface treatment, alloys, cosmetics, pharmaceuticals, plastics, inks, soaps, batteries, textiles, and electric equipment. Zinc oxide is a standard component of sunscreens and a protective element.
Global Production Trends
The zinc chemicals industry, which is gradually experiencing notable growth on major industrial levels, has several substantial driving forces. To be more particular, China is the number one producer in Asia, whose mine production rate in the year 2023 was 4000 mt. This favor in exploitation is due to the benefits as the raw materials are readily available at a cheaper price in the market.
For instance, according to the “International Lead and Zinc Study Group” published article in October 2023 it states that the production of purified zinc metal on a worldwide scale is anticipated to rise by 3.7% to arrive at 13.84 million tonnes in the year 2023. Furthermore, it is anticipated to rise by 3.3% to get to 14.30 million tonnes in the year 2024. The important propelling factor behind the surge will be the significant mine production in China with a predicted output rise of 6.7% in 2023 and 4.1% in 2024.
Zinc oxide is prepared on a large scale as a chemical zinc, which is widely used in paints, tires, sunscreens, and many other products too. The demand for it may increase due to the industry being expanding and people becoming more and more aware of the importance of protection from UV rays. On the other hand, zinc sulfate can function as a tiny fertilizer in agriculture as well as part of an animal feed supplement. Its elaboration is viewed as a positive one through the heavy consideration of upgrading agricultural yields and animal welfare.
Zinc Chemicals Use Cases
The zinc chemicals have several use cases that are enhancing their production and market around the globe. These use cases include agriculture, rubber manufacturing, painting and coating industry, ceramics, glass manufacturing, and pharmaceuticals are boosting the zinc chemicals in various industries, the growing importance towards zinc chemicals is due to increased urbanization and infrastructure developments are increasing the need for zinc chemicals proportionally as they have found in various paints, coatings, glass, and agriculture.
Zinc compounds (“salts”) play a vital role in the production of an extensive array of our daily-use consumer products. None of the oxide pigments have such great importance as zinc oxide which is used in a variety of paints, coatings, and sunscreens due to its capability to block UV rays together with the bright white colour. On the other hand, zinc sulphate performs a vital function in plant nutrition by serving as a micronutrient fertilizer whether it is zinc which plants need for their healthy development. Another advantage of zinc is that zinc sulphate has zinc which will help in livestock feed supplements.
Furthermore, a combination of zinc oxide and ceramic is what results in a smooth finish. Consequently, zinc is involved in some flame-retardant plastics, too. Zinc is added not only to industrial products but also to personal care products. Often anti-dandruff shampoos and zinc pyrithione are incorporated into them which has antifungal properties.
For instance, according to the International Zinc Association published article in 2023, it states that zinc is one of the essential components in the expansion of the construction and infrastructure segment as the corrosion effect is mitigated and the shelf life of building materials is extended significantly. The protective nature of zinc adds up to 60% of total zinc consumption. It matters not whether the process is by galvanizing, applying thermal spray, or using zinc-rich paint.
Market Dynamics and Drivers
Various factors drive the zinc chemicals market, including increased construction activity and the global rise in automotive production. The rise of construction activity is coupled with paints and coatings and increased automotive demand globally is coordinated with components like tires and tubes. The rise in demand for these factors enhances the zinc chemicals market as zinc chemicals are the primary materials used in the production of products like paints, tires, and tubes.
One of the reasons why chemical consumption rises dramatically in the construction industry is the expansion of its development. Zinc and Oxide both of which are catalysts to the construction process achieve significant footfalls. The noticeable off-whiteness of concrete operates in professional productions of paint and cladding, whereas its durable nature provides structures with weather conditions, mainly rough weather conditions. Additionally, zinc which is a component of rubber is rubbed to give the mold in construction for the tires vehicles. The zinc-related industrial products consumption showing signs of boosting with the increase in urbanization and development of infrastructure systems. The various use cases in different industries propel the market for zinc chemicals.
The more manufacturers are producing cars, the higher levels of the zinc chemical production. Zinc is of great importance in ensuring good tune-up of vehicles. Zinc oxide, which is characterized by its versatility, will be used to enhance the wear and tear resistance of tires hence good performance, which is vital, especially in the age of fast automobile manufacturing. The boost in production of automobiles has seen the demand for these zinc-dependent products increase significantly, which has equally pushed the zinc chemicals market into the front.
The zinc chemicals play a vital role in the production of various components of vehicles like tires and tubes with the rise in the vehicle production rate the growth for zinc chemicals will rise proportionally. For instance, according to the International Organization of Motor Vehicles Manufacturers published article in 2023 it states that the production of motor vehicles between the year 2023 with respective The United States in 10,611,555 units.
Figure 1: Vehicle Production in the USA Region (2021- 2023 in Units)
Source: The International Organization of Motor Vehicles Manufacturers (OICA)
Challenges and Constraints
Zinc substances production sector constantly faces a number of issues. The instability of zinc prices is the main limiting factor that can influence the overall cost of the manufacturing process as well as the profitability of manufacturers. Moreover, new environmental regulations with the notion of sustainability in mind could increase firms’ production costs especially when they have to switch to ecological technologies. Additionally, titanium dioxide makes alternative materials of a specific sector, for instance, paints, can also be limited in the use of zinc chemicals. If the zinc chemical sector wants to retain its competitive edge then these challenges must be handled by incorporating cutting-edge technologies to it, by finding new sources for zinc production, and designing new applications of zinc.
Emerging opportunities and Innovations
The zinc chemicals industry comes up with not only fresh and unique ideas but also with new dynamics. There is a lot of research today for the improvement of the performance of what is already available. There is an interesting case of zinc oxide nanoparticles, which can be potentially applied for including self-cleaning coatings and antimicrobial surfaces in their properties. Furthermore, ongoing developments in recycling technologies have led to the emergence of the possibility of producing high-grade zinc from electronic waste, which could be another financially attractive and environmentally friendly alternative to conventional mining processes. Not only is the unique features of zinc being evaluated by researchers for its applications in energy storage and fire prevention but also new avenues are being explored in the market. Looking to disruptive innovations and brave these horizons, zinc chemicals industry will promote sustainable development and environmental protection.
Key Developments
At last, concluding that the zinc chemicals market is anticipated to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing The market is driven by the increasing construction activities which propel the demand for paintings, coatings, and glass materials and the growing production rate of motor vehicles globally. There are several challenges to be faced such as instability in the zinc prices and government regulations for sustainable products may hinder the market. Therefore, the industry is projected to maximize on technological advancements and innovations to meet the needs of a growing global demand for zinc chemicals.
The Burgeoning Occupancy of the Occupancy Sensors Market
BlogThe occupancy sensor market is projected to grow at a CAGR of 12.94% during the forecast period to reach a valuation of US$1,375.279 million by 2027, from US$586.672 million in 2020.
Occupancy sensors are sensors that detect motion thus enabling the detection of space occupancy by the use of a number of advanced technologies like microwave, infrared, radar, ultrasonic, or video image processing. In the absence or presence of a person, these sensors automatically operate the necessary actions, like turning either the HVAC or the light systems to on or off. The sensors are mostly integrated with an IoT network of the building systems to facilitate the efficient management of the occupancy of space along with energy conservation. The innovation and technological advancements of programmable sensors with regard to the precision of detection and efficient performance have enhanced the working of occupancy sensors more than before. The rapidly growing penetration of IoTs along with the increasing development of smart offices, smart homes, as well as smart cities are a few factors that are primarily likely to contribute to the growth of the occupancy sensor market. The global occupancy sensor market is segmented on the basis of the end-user sectors, the types of sensors, and geographical regions.
The burgeoning demand for energy-efficient devices along with the constant development of integrated smart occupancy sensor solutions to augment market growth
In the current times of digitalization, where the world is constantly looking for ways to automate various operational processes, these sensors offer a broad range of opportunities to building owners, right from residential spaces to commercial infrastructures and hospitals. Low energy and resource consumption, along with cost-efficiency are the major appealing factors for this. For instance, these sensors are very actively being employed in offices for the efficient management and utilization of space, meeting room efficiency, as well as desk hoteling, among others, by their installation in multiple strategic locations to detect the motion in areas with high traffic. Due to all these benefits, occupancy sensors are seeing an increasing demand in commercial buildings. A number of occupancy sensor manufacturers are also actively seeking strategic partnerships in order to provide an enhanced user experience. For instance, in January 2022, Sensative, a Sweden-based global IoT solutions provider, and Actility, a key Low Power Wide Area Network connectivity solutions provider for IoTs, entered into a collaborative venture along with joint work with WMW. With this, the former launched an integrated LoRaWAN-enabled IoT desk occupancy monitoring solution. This solution makes use of an active IR sensor for the monitoring of desks. Further, In April 2022, Ambarella and Lumentum entered a partnership for the development of a novel joint reference design for the occupancy sensors. These sensors would combine the latest AI technology with privacy for smart buildings.
The rising investments in the development of smart houses, factories, enterprise buildings and cities drive growth in the market
Smart cities and homes integrate wireless technologies, IoT, and AI together, to allow users remote monitoring and control power management with the use of an integrated platform. These technologies aid the management of the cities for convenient interaction with the infrastructure facilities and also, with the community for the regulations of operations in the area. To accelerate economic growth and improve the quality of life through the application of smart technological solutions, governments of various countries across the globe have been actively developing smart cities. For instance, the Union Ministry of Urban Development under the Government of India has successfully commenced and completed 3577 tendered projects as a part of its National Smart Cities Mission, which is an urban retrofitting and renewal program, investing about INR 60,073 crores in 6939 overall projects. Simultaneously, in November 2021, the South Korean government’s Ministry of Land, Infrastructure, and Transport announced its initiative to commence the development of smart city platforms across the 64 selected medium and small-sized cities via a state project valued at USD 25 million. Similar initiatives being deployed in various parts of the world are fuelling the demand for the occupancy sensor market.
COVID-19 Insight
The outbreak of COVID-19 affected the occupancy sensor market negatively. Several manufacturing industries had to pause their operations due to the implementation of the subsequent lockdowns. The United States and China were the worst affected nations by the COVID-19 pandemic, as they are also two of the largest providers of technology across the globe. Further, the rise in active cases and the mandate of social distancing measures reduced staffing, hence, reducing productivity as well. Additionally, the recession caused in the economy forced several companies to pause many ongoing projects. However, the rising adoption of automation technologies since the pandemic to monitor and regulate the systems remotely has had a positive effect on the market growth for occupancy sensors.
Occupancy Sensor Market Scope:
Baby Toiletries Market is projected to grow at a CAGR of 4.26% to reach US$4.210 billion in 2029
Press ReleasesThe baby toiletries market is expected to grow at a CAGR of 4.26% with a market valuation of US$3.145 billion in 2022 and is expected to reach a market value of US$4.210 billion by 2029.
The market for baby toiletries is propelled by factors such as growing demand for natural and organic products, growing awareness of infant hygiene, parental worries about skin sensitivity, and creative product advancements that address certain baby care requirements.The market for baby toiletries is constantly expanding due to increased parent’s disposable income and growing worries about baby hygiene. The important kinds of stuff required for babies are Infant wipes, shampoo, lotion, oil, and soap.
As per the report, the baby toiletries market is expected to grow at a significant pace.
A desire for safer and kinder products is reflected in the rise in demand for natural and organic components in baby toiletries. Furthermore, cutting-edge ideas like environmentally friendly formulas and biodegradable packaging are becoming more popular. Big businesses are growing their product ranges to address niche markets like infants with delicate skin or allergies. Due to changing consumer choices and rising parental awareness, the industry is predicted to keep growing.
The market is witnessing multiple collaborations and product advancements. For instance, in March 2024, Together, Baby2Baby and Huggies Diapers launched a programme in time for Mother’s Day 2024 to give new moms and newborns the vital support they need. Huggies, through the Kimberly-Clark Foundation, pledged to double the reach and impact of Baby2Baby’s project with The Department of Health and Human Services (HHS) in an effort to address the tragically rising maternal death rate and meet the rising need for diapers in America. The programme addressed the mother and baby health, particularly in vulnerable groups, with a multi-million-dollar gift that included funds and an in-kind product donation of its postpartum pads, wipes, and diapers.
The baby toiletries market is segmented into product type- baby shampoo, baby wipes, toothpaste, and baby bath additives. In the upcoming years, baby wipes are one of the segments in the baby toiletry market that is anticipated to show substantial expansion. This prediction is the result of multiple variables influencing industry trends and customer behavior. The important factor that influences customers is baby wipes because of their convenient and multipurpose properties. These baby wipes are not only used to keep the baby clean and tidy but also used for various purposes like cleaning the baby’s hands, and face. Baby wipes are now recommended in newborn baby’s homes not only due to its safety level but also due to the fact that parents in nowadays are mostly busy and so they always need their baby care items to be easy to use. Besides, unsanitary waste output and the effect of COVID-19 across the world are the main symbols making environmental pollution gradually worsen. The global distress and impacts of the COVID-19 situation have made the importance of products like sanitizers and disinfectants much clearer. This has impacted the demand for baby wipes, as consumers prefer their quick and easy use to clean the child. The innovative baby wipes that are produced using natural ingredients are drawing the attention of parents who are well-versed with naturally obtained baby products these days contributing to the overall expansion of the baby segment. With the growing concerns towards environment-friendly products, increased knowledge about cleanliness and hygiene, and sustainability choices, the baby wipes segment is composed for significant growth, and hold a stronger market share of the baby toiletries market in the future days.
The baby toiletries market can be segmented based on the distribution channel-Offline and online distribution channel. Baby toiletries are sold in stores and online. Online shopping grows quickly due to its convenience and flexibility where people like buying products from phones. They can find many items on other platforms so that parents compare prices and opt for good price slabs over the shopping easily. Online shops provide a large selection, even specialty goods. COVID-19 made people shop online more to stay safe. Online baby toiletries sales will likely keep rising in the upcoming days due to a shift towards online shopping. However, offline stores still matter, and supermarkets and baby shops remain important for urgent requirements. Some people prefer in-person shopping or getting products immediately.
The sales of baby toiletries in the Asia-Pacific Region have climbed enormously in the past years, fuelled by many factors, which are the most important ones listed below. The regionally local baby care market landscape has inclined to rise up with many factors behind, including the shifts into urbanization, the rise of the middle class, knowledge about basic needs in the rise and lastly the presence of sanitation leading to better health. The number of parents who are looking to purchase high–quality goods for their infants is on the increase and countries like China, India, Japan, and South Korea have maintained their position as significant contributors to the progress of the infant product business. Furthermore, online retail channels have been the other associated trend, and the Western styles have impulse the market penetration and given people have option to get many varieties of infant toiletry goods. As such, consumers have been presented with more biodegradable, race-based, and innovative solutions, by the aspiring manufacturing companies in this area, consequentially fuelling the market growth. Another key trend is a shift towards fragmentation with an emphasis on natural and organic elements which resonates with the consumers’ preferences to the safe and sustainable alternatives. Moreover, the Asian-Pacific region’s emergence as a big factor in this market is a positive sign, implying that the demand for these products is likely to remain strong and grow in the future where drivers such as consumer consciousness, buying capacity, and product innovation are still strong.
As a part of the report, the major players operating in the baby toiletries market that have been covered are Warner Chilcott (The Procter & Gamble Company), Johnson & Johnson Consumer Inc, Kimberly-Clark Corporation, Invest Industrial Holdings (Artsana S.p.A.), California Baby.
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This analytics report segments the baby toiletries market on the following basis: