Semiconductor dry etch systems are equipment used in the production of semiconductors, microprocessors, and other microelectronics. The technique is selectively removing or etching specific layers of material from a wafer, leaving behind the patterns and structures required for the device’s operation.
Dry etching systems use a variety of processes to remove material from the wafer surface, including plasma etching, reactive ion etching, and deep reactive ion etching. Dry etching is an important stage in semiconductor production because it enables accurate patterning and the development of detailed patterns on the wafer’s surface. These characteristics may include channels and trenches, which are key components of contemporary semiconductor devices. The capacity to create exact and consistent patterns is required to improve device performance, minimize size, and expand functionality.
The semiconductor dry etch systems market is being pushed by rising demand for improved semiconductor devices and high-resolution patterning capabilities. The drive for better processing speeds, smaller form factors, and more functionality is driving the development of more accurate patterning and etching capabilities. As a result, dry etching has become an important stage in the semiconductor production process.
In the 1980s, the US semiconductor industry lost more than half of its global market share. This was due to fierce competition from Japanese manufacturers, illegal “dumping,” and a severe industrial slump in 1985–86. The sector lost 19 worldwide market share points, surrendering leadership to Japan’s semiconductor industry.
However, the company rebounded throughout the next decade, regaining its leading position and peaking at 50% global market share by 1997. US semiconductor companies maintain a competitive edge in microprocessors, R&D, design, and process technology, with a current market share of 48%, Korea 19%, Japan 9%, the EU 9%, Taiwan 8%, and other nations’ industries accounting for 7–20% of global market share.
Figure 1: Semiconductor Industry Countries Market Share
Source: World Semiconductor Trade Statistics (WSTS), Omdia, and SIA Estimates
The demand for modern semiconductor and electronic equipment, such as microprocessors, memory chips, and sensors, as well as mobile devices, tablets, and laptops, is fast expanding due to the widespread use of digital technology in numerous industries. Higher processing speeds, smaller form factors, and greater functionality are increasing demand for more accurate patterning and etching capabilities.
Furthermore, technical improvements in semiconductor production, such as the development of novel materials, methods, and devices, are increasing demand for more sophisticated dry etch systems. For example, the developments of novel materials like silicon carbide and gallium nitride for high-power and high-frequency devices needs more accurate and uniform etching skills. Furthermore, the growing need for three-dimensional (3D) architecture in semiconductor devices drives the need for deep reactive ion etching (DRIE) equipment.
Consumer-purchased items, including laptops and cellphones, fuel most of the semiconductor demand. Consumer demand is growing in emerging markets such as Asia, Latin America, Eastern Europe, and Africa. Global semiconductor sales are generated by goods that are eventually purchased by customers.
Semiconductors are critical components in a wide range of consumer electronics and products, including smartphones, tablets, laptop computers, TVs, gaming consoles, digital cameras, smart home appliances, wearables, and automotive electronics, among others. These semiconductor chips, also known as integrated circuits (ICs), perform a variety of activities in electronic devices, including processing, memory storage, communication, display control, sensor input, and power management.
According to data from World Semiconductor Trade Statistics Communication sectors have the largest market share of 30% followed by PC/Computer devices that holds the et share of 26% followed by industrial, automotive, consumer sector holding market share of 14% each and government holding 2%.
Figure 2: Global Semiconductor Sales Share by End User
Source: World Semiconductor Trade Statistics (WSTS)
Semiconductor technology is continually evolving to meet the needs of many sectors through enhanced products and processes. Memory, logic, analog, and mpu have been the leading segments of the global semiconductor business in recent years. In 2022, these items represented 78% of semiconductor industry sales.
Figure 3: Worldwide Semiconductor Sales by Product Segment 2022
Source: World Semiconductor Trade Statistics (WSTS)
In conclusion, semiconductor dry etch systems are critical equipment in the semiconductor manufacturing industry for accurate material removal and patterning. They employ plasma, a state of matter made up of ionized gases, to remove material layers from wafers. Compared to wet etching procedures that employ liquid chemicals, this process provides more control, accuracy, and selectivity, making it excellent for generating delicate patterns and features on semiconductor devices.
Key Developments
February 2024: Toppan Photomask and IBM had entered a research and development collaboration for 2-nanometer logic semiconductor nodes utilizing extreme UV lithography. Beginning in the first quarter of 2024, the cooperation would focus on establishing photomask capacity at the albanyNanoTech Complex and Toppan Photomask’s Asaka Planted, to provide commercial solutions for mass production of 2nm nodes and beyond semiconductors.
December 2023: Tokyo Electron had announced Ulucus™ G, a wafer-thinning solution for 300-mm wafer production. The technology intended to improve silicon wafer flatness for improved patterning in semiconductor manufacturing while also reducing the amount of personnel necessary for mass production. It included a ground unit, a scrubbed cleaned unit, and a spin wet etch unit enabling in-system feedback and feedforward of process data. The technology had been completely tested in coating and development applications and projected to minimize mass production labor.
May 2023: CVD Equipment Corporation had sold Tantaline CVD apS, a Danish subsidiary, with an earn-out provision based on expected net profits for the five years ended December 31, 2027. The firm anticipates a loss of around $250,000 in the quarter ended June 30, 2023. Tantaline’s revenues and net income for the fiscal year ending December 31, 2022, and the three months ending March 31, 2023, were $1.7 million and $0.4 million, respectively.
July 2022: Hitachi High-Tech Corporation (“Hitachi High-Tech”) announced the development of a service to remotely assess the deterioration condition of on-board automobile lithium-ion batteries. The achievement of battery stability and efficiency was increasingly critical for the deployment of electric vehicles (“EVs”). Hitachi High-Tech would begin to offer this service to worldwide clients via various networks to helped built a circular society by resolving customer difficulties.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/03/semiconductor-dry-etch-systems-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-11 05:01:492024-03-11 05:24:17Demand for Communications and Electronics to Fuel the Semiconductor Dry Etch Systems Market
The genetically modified seeds market is expected to grow at a CAGR of 8.68% with a market valuation of US$35.492 billion in 2022 and is expected to reach a market value of US$63.555 billion by 2029.
The rise in nutrition concerns, rapid urbanization, and favorable initiatives are key drivers propelling the growth of the genetically modified seeds market.
As per the report, the genetically modified seeds market is expected to grow significantly.
Using cutting-edge technology, genetic modification (GM) modifies an organism’s genetic composition and alters its genetic characteristics in the lab to introduce new traits. The process of genetic modification involves several techniques, including gene splicing, gene silencing, and the application of viral carriers. The production of genetically modified crops and seeds is one of the most popular uses of genetic modification in agricultural practices. Increased yields in the same or less area, decreased crop damage from weeds, diseases, and insects, and the possibility of better nutritional value or other health benefits are some of the benefits of genetically modified seeds over normal seeds. These seeds are modified to address issues like food security and climate change by adding features like pest resistance, herbicide tolerance, or higher nutritional value. The most often modified crops are canola, soybeans, maize, and cotton. Adoption varies by location and crop type. Genetically modified seeds are controversial despite their potential advantages due to worries about the effects they may have on the environment, health risks, and socioeconomic ramifications. Topics like pesticide use, biodiversity loss, and corporate influence over agricultural systems are still being debated. However, as research is driven by changing agricultural requirements and technological breakthroughs, the market for genetically modified seeds is growing. Corteva unveiled a gene-editing technique in March 2023 to safeguard the superior maize hybrids. In particular, for maize growers in North America, the new technology represents the next phase of plant breeding and aims to induce disease-resistant characteristics in the maize genome.
The genetically modified seeds market can be categorized into various crop types: corn, soybean, cotton, canola, and others. With several variables driving demand and adoption, maize and soybeans are likely to continue rising in the genetically modified (GM) seed industry. First of all, among the most extensively grown crops worldwide for use in food, feed, and industrial uses are maize and soybeans. Therefore, farmers have a strong incentive to embrace genetically modified (GM) cultivars that offer features like herbicide tolerance, pest resistance, and increased yields. Second, weed competition, yield unpredictability, and insect pressure are some of the agricultural issues that maize and soybean farmers confront, which makes them excellent candidates for genetically modified agriculture (GM) technology. Features like as glyphosate tolerance in soybeans and Bt insect resistance in maize have gained widespread acceptance because of their proven ability to effectively handle these issues. The adoption of GM maize and soybean varieties is also fuelled by the ongoing rise in the world’s need for food and feed, as well as the need to boost agricultural production to feed an expanding population. Since these crops are essential to the food chain, efforts to modify their genetic makeup should be prioritized for agricultural innovation and sustainability. All things considered, the demand from the market, the difficulties faced by farmers, and the adaptability of GM technology position maize and soybeans for sustained expansion in the GM seed business.
The genetically modified seeds market can be segmented based on resistance, namely herbicide-tolerant and insect-resistant. Within the larger genetically modified seed sector, the market for herbicide-tolerant and insect-resistant GM seeds is a sizable subset. These seeds provide farmers with efficient ways to control weed and insect pressures because they are designed to tolerate the application of particular herbicides or to release proteins poisonous to specific insect pests. Genetically modified seeds that are resistant to herbicides, such as glyphosate, allowing farmers to manage weeds more effectively, increasing agricultural yields and lowering labor expenses. Corn, soybeans, and cotton are examples of glyphosate-resistant crops that have gained considerable traction in areas where weed pressure poses a serious problem. Gene-engineered insect-resistant genetically modified seeds (GM seeds) that generate proteins harmful to particular insect pests (Bacillus thuringiensis, or Bt) reduce the need for chemical insecticides. Beneficial insects and the environment are both preserved while targeted pests are effectively controlled by Bt crops, such as Bt corn, cotton, and soybeans. The market for genetically modified (GM) seeds that are resistant to pesticides and insects is expanding due to several factors, such as the need for sustainable farming methods, improved pest management techniques, and higher agricultural production. Despite debates surrounding genetically modified crops, the use of these features is spreading throughout the world due to their proven advantages in resolving important agricultural issues.
The market for genetically modified (GM) seeds is expanding significantly in the Asia-Pacific area for several reasons. The demand for food and agricultural goods is rising due to factors such as urbanization, rapid population expansion, and shifting dietary preferences. Farmers in the area are using genetically modified (GM) seeds, which provide features like pest resistance, herbicide tolerance, and increased yields, to meet this need sustainably modified crops, like Bt cotton, have gained widespread acceptance in nations like China and India, where agriculture plays a significant role in the economy. This has resulted in appreciable gains in farmer productivity and revenue. Furthermore, the use of insect-resistant genetically modified seeds has lessened crop losses and decreased the need for chemical pesticides due to the presence of diseases and pests in many Asian agricultural landscapes. The use of GM technology is also being fuelled by government programs and policies that aim to increase food security and agricultural production. For example, the Chinese government has approved the commercial cultivation of various genetically modified crops and has actively sponsored biotechnology research and development. Nonetheless, there are several obstacles to the Asia-Pacific region’s GM seed industry expansion. The acceptance of GM crops may be impacted by national differences in regulatory frameworks, food safety, and environmental impact concerns. The way the public views and accepts genetically modified products also continues to play a significant role in determining the direction of the market. Despite these obstacles, the Asia-Pacific area offers a lot of potential for the GM seed industry to grow, driven by the need to meet global food demands and sustainably boost agricultural production.
The genetically modified seeds market is supported by key players such as BASF SE, Bayer AG, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Limagrain.
The energy sector encompasses the production, distribution, and utilization of a wide range of energy sources, including nuclear power, renewable energy, and fossil fuels. It is necessary for sparking economies and maintaining global infrastructure. Oil and gas, power generation, renewable energy, and energy storage are important segments of the energy economy. Geopolitical unrest, environmental concerns, and the shift to renewable energy sources are some of the obstacles the business must overcome. Technological developments like smart grid systems and renewable energy technologies are changing the face of industry. In addition, to meet the rising demand for energy worldwide while reducing the effects of climate change, the energy sector is putting more and more emphasis on resilience, sustainability, and efficiency. Join us as we explore the “Top Energy industry trends” in this article that have evolved the industry trends in the energy sector.
Top Energy Industry Trends
Renewable Energy
Internet of Energy (IoE)
Energy Storage
Blockchain
Energy as a Service (EaaS)
Let’s discuss each one in detail.
1. Renewable Energy
The world’s energy landscape is changing due to renewable energy, characterized by sources like biomass, solar, wind, and hydroelectric power. It provides environmentally friendly substitutes for conventional fossil fuels, lowering greenhouse gas emissions and slowing down global warming. Photovoltaic panels are used in solar energy to capture sunlight, whereas wind turbines are used in wind power to generate electricity. Electricity is produced by hydroelectric dams using water flow, while biomass energy is produced from organic resources such as wood or agricultural waste. Technologies for renewable energy are developing steadily, becoming more efficient and affordable. Globally, governments are promoting the use of renewable energy through investment incentives, subsidies, and legislation, which is causing the industry to expand quickly. Renewable energy, with its availability and advantages for the environment, is well-positioned to satisfy future energy demands and advance a cleaner, more sustainable future.
The 554 MW Babilonia wind power project will be developed through a joint venture between ArcelorMittal and Casa dos Ventos, a Brazilian renewable energy firm, according to an announcement made by the company in April 2023. The project will be situated in northeastern Brazil’s central area of Bahia and will be developed for USD 800 million. Casa dos Ventos will own the remaining 50% of the joint venture, with ArcelorMittal holding the other 55%.
Figure 1: Installed Capacity for Renewable Energy in India (2023)
Source: Invest India
2. Internet of Energy (IoE)
The Internet of Energy (IoE) is revolutionizing the energy business and promoting the development of a more flexible, efficient, and sustainable energy environment by combining cutting-edge digital technology with traditional energy infrastructure. The IoE enables smooth coordination and communication between energy generation, delivery, and consumption through networked devices, sensors, and smart grids. The IoE leverages real-time data analytics and predictive algorithms to optimize energy management, improve grid reliability, and enable dynamic demand-response mechanisms. Energy and information technologies are coming together to allow consumers to take an active role in the energy market, boost energy efficiency, and reduce carbon emissions. Furthermore, by facilitating the integration of renewable energy sources like solar power, IoE encourages the shift to a cleaner and more resilient energy future.
The official completion of Chevron Corporation’s acquisition of PDC Energy, Inc., took place in August 2023. As part of this deal, Chevron Corporation acquired several assets. These properties are located advantageously next to Chevron’s present activities on 275,000 net acres in the Denver-Julesburg (DJ) Basin. The proved reserves contributed by these recently acquired properties total about one billion oil-equivalent barrels. In addition, production now owns 25,000 net acres in the Permian Basin that are part of the deal.
3. Energy Storage
In the current energy landscape, energy storage is essential because it enhances grid stability, makes it possible to integrate renewable energy sources, and meets fluctuating energy demands. Batteries, pumped hydro storage, thermal energy storage devices, and other technological advancements are all included. These systems store excess energy during periods of low demand and release it during periods of high demand, balancing supply and demand dynamics. The heightened scalability, reduced cost, and better efficiency of energy storage technologies have made them indispensable for both decentralized and centralized energy systems. As the world evolves towards a more sustainable energy future, energy storage devices are critical to deliver backup power in an emergency, incorporate intermittent renewable energy sources like solar and wind, and improve grid resilience.
For example, in February 2022, Albania received 14 PVS-100 inverters, a three-phase string solution, from FIMER and Vega Solar. FIMER’s PVS-100/120-TL is a cloud-connected three-phase string inverter intended for affordable decentralized solar systems installed on rooftops and the ground.
4. Blockchain
The methods for storing, protecting, and exchanging data in digital settings are completely transformed by blockchain technology. Peer-to-peer transactions are made possible by its distributed and decentralized ledger operation, which eliminates the need for middlemen. Since each transaction is documented in a “block” and connected to the others in a chronological “chain,” the data is transparent and unchangeable. Beyond cryptocurrency, supply chain management, identity verification, smart contracts, and decentralized finance (DeFi) are among the uses of blockchain technology. Transparency, security, and traceability are some of its primary advantages that boost efficiency and confidence across a range of businesses. But issues like energy usage, scalability, and regulatory problems still exist. Nevertheless, blockchain is still developing, with new projects and research aimed at resolving these problems and realizing blockchain’s full promise to transform sectors and open up new digital ecosystems.
In January 2023, the widespread adoption of blockchain technology by all spheres of society, from huge multinational corporations to casual DeFi aficionados, is crucial to the industry’s long-term growth and viability. The news that Ava Labs, the primary creator of the Avalanche blockchain technology, has formally partnered with Amazon Web Services (AWS), a cloud computing platform under the management of e-commerce behemoth Amazon.com, has greatly bolstered this aim. AWS is the biggest supplier of cloud infrastructure globally.
The blockchain market has grown significantly in North America because of its growing usage in several areas, including supply chain, healthcare, banking, and government. A hospitable legislative landscape, a strong technological foundation, and widespread interest and investment in blockchain technology are some of the factors driving this rise. Businesses in the area are using blockchain because of its ability to improve digital transactions’ efficiency, security, and transparency. Furthermore, alliances among tech companies, financial institutions, and governmental organizations are quickening the creation and application of blockchain solutions and establishing North America as a primary center for blockchain innovation and application.
5. Energy as a Service (EaaS)
The energy sector is seeing a rise in the practice of providing energy demands as a holistic solution rather than just as a commodity, or energy-as-a-service, or EaaS. It entails the provision of energy services—such as power, lighting, heating, and cooling—through creative business models that put economy, sustainability, and efficiency first. Energy management systems, renewable energy installations, demand response plans, and energy-efficient technology are common components of EaaS solutions. With this strategy, customers may obtain dependable and environmentally friendly energy options without having to pay for new equipment or infrastructure upfront. By outsourcing their energy requirements to specialized service providers, businesses can maximize energy efficiency, minimize operating expenses, and meet their sustainability objectives. Additionally, EaaS models encourage the transition to decentralized energy systems and the incorporation of renewable energy sources.
Reputable cleantech integrator Ameresco, Inc., with an emphasis on energy efficiency and renewable energy, announced today that it has extended its EaaS agreement with Northwestern University. Without needing any up-front funding, the deal will help the university handle its energy-related deferred maintenance challenges while advancing its academic and sustainability goals. As per the agreement, Ameresco will design and implement energy-saving improvements for the 175 buildings on campus and the central plants, in addition to providing ongoing energy monitoring and associated services. Energy efficiency initiatives aimed at these buildings will use state-of-the-art technologies to create more efficient, high-performing building systems, in addition to enhancing the learning environment for students.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/03/top-energy-industry-trends.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-08 05:01:412024-03-08 05:30:32Exploring the Top Energy Industry Trends
The coagulation analyzer market is the global market for medical devices that examine the coagulation process, or the body’s natural tendency to create blood clots. These devices are generally used to detect and monitor blood clotting diseases such as thrombophilia, hemophilia, and von Willebrand disease.
Coagulation analyzers use a variety of technologies, including optical, mechanical, and electrochemical approaches, to determine the coagulation characteristics of a blood sample. Clotting time, prothrombin time, activated partial thromboplastin time, and international normalized ratio are some of the measures examined.
The expanding prevalence of blood clotting diseases, as well as the growing need for coagulation analyzers for diagnostic reasons, is the primary driver of the need for these solutions. Furthermore, the use of automated coagulation analyzers and the development of new coagulation tests are driving market expansion.
Automated coagulation analyzers provide several advantages over traditional manual procedures, including improved accuracy, efficiency, and speed. Furthermore, the development of sophisticated coagulation tests allows doctors to detect and monitor blood clotting problems with greater accuracy and efficiency.
Haemophilia is a rare hereditary condition affecting one in every three persons in the United States. The median age of diagnosis is 36 months for mild hemophilia, 8 months for moderate hemophilia, and 1 month for severe hemophilia. In two-thirds of instances, a family history exists.
A particular blood test is used to make the diagnosis, which is often performed after birth. Prenatal genetic testing may also be performed. In one-third of instances, the diagnosis is obtained following an atypical bleeding episode that necessitates the use of particular blood testing. The diagnosis of hemophilia in children under the age of two is classified as follows: less than 1-month-old (69.7%), 1-6 months (15.6%), 7-12 months (7.1%), 12-24 months (4.7%), and prenatal (2.8%).
Figure 1: Percentage of Diagnosis of Hemophilia Among Children Less Than 2 Years of Age
Source: Centers for Disease Control and Prevention
The rising prevalence of blood clotting diseases such as thrombophilia, hemophilia, and von Willebrand disease is a significant driver of the coagulation analyzer industry. According to the World Federation of Haemophilia, roughly 400,000 people worldwide have hemophilia, whereas von Willebrand disease affects about 1% of the world’s population. The increasing prevalence of these illnesses is likely to boost demand for coagulation analyzers for use for diagnostic purposes.
The aging population is another significant driver of the coagulation analyzer industry. As people age, their chances of getting blood clotting issues rise. According to the United Nations, the global population aged 65 and up is expected to reach 1.5 billion by 2050, up from 703 million in 2019.
The same source states that the population aged 65 and up accounted for 10% of the global population, a 2% increase over 2015’s percentage share. During the forecast period, demand for coagulation analyzers is likely to rise due to an increase in the aging population.
It took an average of 16 years between the onset of bleeding symptoms and the diagnosis of a bleeding disorder. Before being diagnosed with VWD, women had an average of six bleeding symptoms. Menorrhagia, bruising, nosebleeds, and bleeding after surgery, accident, or delivery were all typical complaints. Menorrhagia was the most commonly reported symptom.VWD was identified after an average of two tests (range: 1-20).
38% of women reported being diagnosed by a Haemophilia Treatment Centre (HTC) doctor. Women diagnosed by providers other than an HTC doctor accounted for 11%, with 42% by a haematologist, 28% by an internist or family doctor, and 19% by a gynecologist.
According to the CDC’s research of 102 women with VWD, the most often reported bleeding symptoms are as follows: heavy menstrual bleeding (95%), bleeding after mild traumas (92%), and excessive gum bleeding (76%).
Figure 2: Bleeding Symptoms in Women With VWD Percentage
Source: Centers for Disease Control and Prevention
The worldwide coagulation analyzer market for platelet function tests is expected to develop significantly because of the rising frequency of bleeding diseases, a growing geriatric population, and increased demand for point-of-care testing. Platelet function tests assess platelets’ capacity to form blood clots, making them a valuable diagnostic tool for diagnosing and treating a variety of bleeding problems.
The market is predicted to expand rapidly due to the development of sophisticated platelet function testing equipment, rising healthcare spending, and rising need for early illness detection. The use of platelet function tests in research and clinical trials will also help to fuel market expansion.
Type 1 Von Willebrand disease (VWD) is a minor hereditary bleeding illness characterized by extended bleeding times. It is caused by mutations in the gene that produces Von Willebrand factor, a protein implicated in blood clotting. This lowers the amount of functional VWF in the circulation. Symptoms include easy bruising, persistent bleeding from small cuts or accidents, frequent nosebleeds, heavy menstrual cycles, and, in extreme cases, bleeding into joints or soft tissues.
According to the CDC’s research of 42 men and 38 women with Type 1 VWD, 45% of women and 50% of men with VWD had severe bruising. 40% of women and 47% of men with VWD experienced significant bleeding during surgery. 34% of women and 29% of men with VWD experienced dental bleeding. 21% of women and 26% of men with VWD had undergone blood transfusions.
Figure 3: Bleeding in Men and Women With VWD
Source: Centers for Disease Control and Prevention
Geographically, the coagulation analyzer market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. The North American coagulation analyzer market is likely to expand substantially throughout the forecast period due to an increase in the frequency of coagulation diseases, rising healthcare costs, and increased demand for sophisticated coagulation testing. The United States is likely to be a key market in this area because of its large market participants, well-established healthcare infrastructure, and beneficial government initiatives.
In conclusion, Coagulation analyzers vary in complexity, from simple point-of-care devices used in clinics or hospitals to high-throughput laboratory systems capable of processing large numbers of samples simultaneously. They play a critical role in ensuring patient safety during surgical procedures, managing patients with bleeding disorders, and monitoring anticoagulant therapy in conditions such as atrial fibrillation or deep vein thrombosis.
Table 1: Key Developments
Year
Development
January 2024
Abbott’s PROTALITY™ brand, a high-protein nutrition shake, targets individuals who want to lose weight while preserving muscle mass and nutrition. Nearly half of individuals in the United States have tried to lose weight in the last year, and research showed that adults may require at least 50% more protein than the Recommended Dietary allowance to maintain muscle mass while losing weight.
January 2024
Beckman Coulter Diagnostics launched the DxC 500 aU Chemistry Analyzer, an automated clinical chemistry analyzer for healthcare systems. It provided superior automation technologies, onboarding protocols, and standardized reagents for use in healthcare networks. With over 120 tests that had been independently confirmed for Six Sigma performance, it minimizes QC troubleshooting and lab operating expenses. This gadget is intended for in vitro diagnostic usage only.
Because of their exceptional qualities, iron oxide pigments are flexible colorants that are extensively employed in a variety of sectors. These pigments, which are made from iron oxide minerals, are good for a variety of applications due to their high tinting power, great lightfastness, and chemical stability. Iron oxide pigments are widely used in the construction sector to color bricks, asphalt, and concrete, giving structures and infrastructure strength and visual appeal. They are also utilized in the production of ceramics, paints, varnishes, and plastics, where they add vivid and durable colors. Furthermore, because iron oxide pigments are non-toxic and inert, they are used in the pharmaceutical and cosmetics sectors. Iron oxide pigments are essential in many industries due to their wide range of uses and advantageous qualities, which boost products and materials. Join us as we explore the “Iron Oxide Pigments” in this article that has evolved the industry.
Iron Oxide Pigments:
Yellow Iron oxide Pigment
Red Iron Oxide Pigment
Black Iron Oxide Pigment
Orange Iron Oxide Pigments
Let’s discuss each one in detail.
1. Yellow Iron oxide Pigment
Yellow iron oxide pigment is a versatile coloring ingredient that is well-known for its brilliant hue and exceptional performance features. It can be synthesized chemically or extracted from natural iron oxide minerals. This pigment is widely used in many different industries and is distinguished by its distinctive yellow color. Yellow iron oxide pigment is frequently used in the construction industry to tint asphalt, concrete, and mortar. This adds visual appeal to the materials while also making them more resilient to the elements and long-lasting. It is a favored option for outdoor applications because of its resilience to adverse climatic conditions. Furthermore, yellow iron oxide pigment is highly valued in the paint and coating sector for its exceptional tinting strength, lightfastness, and chemical stability, which allow for the creation of vivid and long-lasting yellow hues in paints, coatings, and stains. Furthermore, it is used in rubber, plastics, and ceramics to provide a wide variety of products with a vibrant yellow color. Because yellow iron oxide pigment is non-toxic and works well with a variety of formulations, it is used in the cosmetics and personal care industry to formulate makeup goods including lipsticks, nail polishes, and eyeshadows. Yellow iron oxide pigment is still an essential part of many sectors due to its dependability and versatility, which improves the appearance and functionality of a broad range of goods and materials.
In December 2022, following their recent deal to purchase the iron oxide pigment activities of Venator Materials PLC, Cathay Industries announced the opening of a state-of-the-art finishing and blending facility in Batam, Indonesia. The plant will start producing goods in late 2023, adding to Cathay Industries’ already extensive global reach.
2. Red Iron oxide pigment
Hematite, or red iron oxide pigment, is a popular colorant that is well-known for its remarkable qualities and bright red color. This pigment, which can be chemically synthesized or derived from natural iron oxide deposits, has exceptional thermal stability, lightfastness, and tinting strength. Many industries, such as building, coatings, plastics, and ceramics, are greatly attracted to its deep red color. Red iron oxide pigment is a common component used in the building industry to color bricks, pavers, concrete, and roofing materials. It gives architectural constructions strength and visual appeal. Similar to this, it is used in the coatings industry to make paints, varnishes, and protective coatings for everything from industrial gear to automotive finishes, adding vivid and durable red hues while guaranteeing corrosion resistance. Furthermore, red iron oxide pigment is often used in plastics to improve the UV resilience and aesthetic appeal of toys, consumer goods, and packaging. It is used in the ceramics industry to color and glaze ceramics, porcelain, and tiles, giving the final goods more depth and richness. Red iron oxide pigment is a very versatile, long-lasting, and visually appealing pigment that is used in many different production industries to improve a wide range of products and materials.
In November 2022, Cathay Industries made an announcement announcing that it had reached a deal with Venator Materials PLC to acquire its iron oxide pigment business. This acquisition will enable Cathay Industries to expand its global production presence while generating significant synergies and new growth prospects. The acquisition includes eight production facilities and one administrative site spread over six nations on four continents in addition to Venator’s product line.
3. Black Iron oxide pigment
Originating from iron oxide minerals, black iron oxide pigment is a multipurpose coloring ingredient that is well-known for its rich, opaque black color and remarkable resilience. Many different sectors find it to be a popular choice because of its longevity and strong pigment. Black iron oxide pigment is widely used in construction to color paving stones, mortar, and concrete. This gives the materials a polished, modern look while protecting them from fading and weathering. It also plays a crucial role in the production of black paints, stains, and coatings for industrial machines, automotive finishes, and architectural applications in the coatings and paints sector. Long-lasting performance in outdoor conditions is ensured by its resistance to chemicals and UV radiation, and its high tinting strength offers rich, consistent colors. Additionally, black iron oxide pigment is used in It adds rich, opaque black color to a variety of materials, from consumer goods to industrial components, in plastics, rubber, and textiles. It is used to provide strong pigmentation and improve the look of beauty items such as mascaras and eyeliners in the cosmetics and personal care industry. Black iron oxide pigment is still in high demand across many industries due to its adaptability, toughness, and rich black color. It enhances the appearance, functionality, and durability of a wide range of goods and materials.
In April 2023, Following the successful completion of the purchase of Venator’s color division, Oxerra, a new brand identity and name for Cathay Industries, a prominent global maker of iron oxide pigments, was introduced. Combining the products and services of both companies establishes Oxerra as a world-renowned leader in the coating, plastic, construction, and specialty industries. It also positions Oxerra as a manufacturer of comprehensive color solutions and a supplier of cutting-edge, sustainable, and innovative solutions.
4. Orange Iron Oxide Pigment
Because of its brilliant color and outstanding performance qualities, orange iron oxide pigment is a flexible coloring ingredient that is used extensively in a variety of sectors. This pigment, which is derived from iron oxide rocks, is widely sought-after for its rich orange color in a variety of applications. Orange iron oxide pigment is frequently used in the construction industry to color paving materials, mortar, and concrete. Because of its superior weather resistance and lightfastness, colored surfaces stay vibrant for longer periods even in the face of adverse weather conditions. Furthermore, orange iron oxide pigment is used in the coatings and paints sector to add warmth and brightness to a variety of goods, such as industrial coatings, automotive paints, and architectural coatings. Its ability to work with various solvents and binding agents makes it a recommended option for producers looking for reliable and long-lasting coloring. Orange iron oxide pigment is used in polymers, ceramics, and textiles in addition to building and coatings. It enhances the aesthetic appeal of a range of things made of plastic, such as consumer goods, toys, and packaging. It is an essential component of glazes and ceramic bodies used in the production of ceramics, helping to produce colorful and visually appealing tiles and pottery. Orange iron oxide pigment is also used in the textile industry to dye fabrics, providing a long-lasting and colorfast way to get vivid orange colors in apparel and household textiles. Overall, orange iron oxide pigment’s adaptability, robustness, and vivid hue make it a necessary component for a variety of sectors, improving aesthetic appeal and performance.
In June 2022, the plastics sector may color engineering plastics with high-performance, environmentally friendly colorants from the specialty chemicals business LANXESS. The company will showcase its product lines for the energy-efficient production of plastic goods that avoid reworking by eliminating the need for further coating at K 2022, which is scheduled to take place in Düsseldorf, Germany from October 19 to 26. This covers both general-purpose items and those tailored to specific needs. The property profile is determined by factors such as heat stability, color strength, resistance to light and weather, and brilliance, depending on the product.
As a safety precaution, orange is required for high-voltage components. Live wires in electric and hybrid cars as well as parts for high-voltage applications are increasingly being marked with this colour. The purpose of the signal colour is to warn emergency services and mechanics about the possible risk of electric shock. LANXESS has created a soluble organic dye that can be used to permanently colour polymers in the shade of orange found in RAL 2003. Macrolex Orange HT has exceptional colour strength and brilliance and is extremely heat-stable, light-fast, and weather-resistant. In contrast to most traditional colourants, the halogen-free Macrolex Orange HT is ideal for use with polyamide as well as other common plastics like polycarbonate and polyphenylene sulphide, which require high processing temperatures to be processed.
Figure 1: World Mine Production, 2023 (In Tonnes)
Source: USGS
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/03/iron-oxide-pigments-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-06 06:15:412024-03-06 06:27:40Seeking Colors: Unveiling the Magnificence of Iron Oxide Pigments
The emotional AI market is expected to grow at a CAGR of 13.19% with a market valuation of US$29.412 billion in 2022 and is expected to reach a market value of US$70.033 billion by 2029.
Demand for personalized experiences, improved customer engagement, and rise in IoT and wearables are key drivers propelling the growth of the emotional AI market.
As per the report, the emotional AI market is expected to grow significantly.
Affective computing, another name for emotional artificial intelligence, transforms human-computer interaction by allowing computers to perceive, understand, and react to human emotions. Emotional AI improves a range of applications, such as virtual assistants, customer service, healthcare, and entertainment, by leveraging sophisticated algorithms and data analytics. Emotional AI promotes user engagement, makes better decisions, and offers tailored experiences by studying physiological signs, speech tones, and facial expressions. But issues like privacy worries, moral dilemmas, and the requirement for open algorithms continue to exist. Notwithstanding these obstacles, the market for emotionally intelligent technology is still growing quickly as more and more sectors realize how revolutionary these tools may be.
The market for emotional AI is expanding quickly because of developments in machine learning and artificial intelligence. Affective computing, another name for emotional artificial intelligence, is the study of identifying, analyzing, and reacting to human emotions. Applications are used in many different industries, including customer service, retail, healthcare, and automotive. Personalized experiences, better human-computer interactions, and superior decision-making processes are all made possible by emotional AI. The need for mental health monitoring tools, sentiment analysis in customer feedback, and compassionate virtual assistants are some of the major motivators. But issues like data security requirements, ethical dilemmas, and privacy issues continue to be important influences on the emotional AI sector. For instance, The “GENIUS” project, initiated by Antolin in July 2023, sought to create Artificial Intelligence capable of identifying moods and emotional and cognitive states through real-time sensing and correlation with physiological characteristics.
Based on deployment, The emotional AI market is anticipated to grow in both the on-premises and cloud deployment sectors. For businesses in sectors like healthcare and finance that have sensitive data issues or strict regulatory requirements, on-premises deployment gives them more control over their data. As businesses emphasize data security and privacy and use emotional AI for applications like sentiment analysis, customer feedback analysis, and tailored services, this market is expected to rise steadily.On the other hand, cloud deployment appeals to a wider range of sectors due to its scalability, affordability, and accessibility. Real-time analysis, interaction with current cloud-based systems, and simpler deployment across geographically dispersed teams are all made possible by cloud-based emotional AI solutions. The desire for real-time customer insights, personalized experiences, and content recommendations is likely to propel significant growth in this area, particularly in industries like retail, marketing, and entertainment. However, because of the growing demand for scalable AI solutions, the proliferation of IoT devices producing massive volumes of data, and the increasing use of Software-as-a-Service (SaaS) models, the cloud deployment industry is expected to grow at a faster rate. The adoption of cloud-based emotional AI solutions will also be accelerated by developments in cloud infrastructure, particularly in industries that need real-time processing and decision-making. These developments include edge computing capabilities.
Medical emergencies and healthcare environments are finding great use in emotion detection technology. Efficient treatment delivery in emergency scenarios, such cardiac arrests or trauma, may depend on prompt and precise patient emotional assessment. By integrating emotion detection technologies into wearables or monitoring systems, medical professionals can be informed in real time about a patient’s emotional state and can be alerted to indicators of discomfort or worry. Emotion detection technology is transforming patient care in the medical field by improving patient-provider communication. It supports the evaluation of patient satisfaction, comprehension of affective reactions to therapy, and detection of indicators of mental health conditions like anxiety or depression. Through the analysis of physiological reactions, facial expressions, and voice signals, this technology can offer insightful diagnostic data that supports early intervention. Furthermore, emotion detection technology allows medical personnel to assess a patient’s well-being in telemedicine and remote patient monitoring contexts beyond their physical symptoms, even in cases where the patient is not present. This has the potential to improve patient outcomes and general satisfaction with healthcare services by facilitating more effective and sympathetic remote consultations. It is anticipated that as technology develops, its application in healthcare and medical crises will grow, improving patient outcomes and care.
The market for emotional AI is expanding rapidly in the Asia-Pacific area because to reasons like growing internet penetration, fast digitalization, and a growing population of tech-savvy people. Demand for emotional AI solutions is soaring as companies in a wide range of industries realize how important it is to comprehend and address client emotions. The region’s diversified consumer base, which presents a wide range of cultural nuances and linguistic complexity and necessitates customized emotional AI solutions for effective engagement, is one of the main drivers of growth. Emotional AI is being used by the retail, e-commerce, and customer service industries to customize encounters, improve consumer pleasure, and foster loyalty.
Furthermore, emotional AI is being used in the Asia-Pacific healthcare industry for tasks including patient engagement, mental health monitoring, and therapy support Emotional AI solutions provide scalable and easily available mental health support services, particularly in light of the region’s growing mental health issues. Emotional AI is also becoming more widely used in industries like finance, transportation, and education because to government programs that support innovation and digital transformation. This covers both the funding of R&D and the establishment of helpful regulatory frameworks. All things considered, the Asia-Pacific emotional AI market is expected to grow significantly due to a combination of new technology, changing customer demands, and proactive business tactics that target the provision of emotionally intelligent experiences.
The emotional AI market is supported by key players such as Entropik Tech, Google Inc., IBM Corporation, Amazon Inc., Elokence, and more.
This analytics report segments the emotional AI market on the following basis:
Market Segmentation:
By Deployment
Cloud
On-premise
By Applications
Automotive
Consumer Electronics
Customer Services
Gaming
Healthcare
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Singapore
Indonesia
Others
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/03/emotional-AI-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-06 04:43:582024-03-06 13:58:58Emotional AI Market is projected to grow at a CAGR of 13.19% to reach US$70.033 billion in 2029
Travel Management is an application that helps businesses manage bookings, and track and analyse the company’s travel processes. It simplifies travel management, further saving time and money for the company. Some of the various features that are included in a travel management tool are individual account handling, customizable travel policies, customer support, travel spending analytics, data encryption and security, an easy-to-use booking system, loyalty programs, expense tools for seamless integration, and many others.
The wide range of benefits that travel management solutions bring include simplified travel bookings, business travel personalization, substantial travel inventory, travel cost savings, advanced analytics, streamlined approval workflow, round-the-clock support, on-demand scalability, easy access, virtual travel consultancy, and many others.
One of the largest travel management systems present in the market is SAP Concur, which provides a one-stop software system for all of the company’s travel arrangements that need to be handled. Their platform helps manage travel budgeting, policy, and reporting, making sure that everything is always running as per the requirements. The features of the software provided by SAP include:
Business Intelligence: empowers the company with timely business information, helping the company control overall spending.
Service Administration: delegates system oversight by controlling day-to-day service maintenance, implementing new service features, employee updates, and many others.
Expense Report Auditing: allows the company to enforce policies, cut excessive business costs, and catch misuse, all while saving time.
Invoice Management: automates the process of collecting, tracking, submitting, and paying supplier invoices and cheque requests.
User Support Desk: provides reliable user support 24×7.
Locate and Alert: allows the company to keep in touch with the employees while they are in the process of travelling by communicating with them during any urgent situations, no matter where the employees are.
Salesforce Integration: integrated Salesforce into Concur, further providing visibility and ease of use.
Rising business travels worldwide propels the travel management software market.
Travel management software is commonly used by companies to manage expenses and track the details of employee’s business trips. This allows the company to know all kinds of information on business travel, which include the location of the employee, expenses for the business trip, policies of the business trip, spending of the employee from the company, and many others.
The US Travel Association states that the business travel trend has shown a significant acceleration in the world. The various trends, as per the US Travel Association, include:
Slow and Steady Recovery: as per the Q3 earnings of Delta Airless in 2023, strong travel demand continued to increase during the summer, with the major players being international travel and business travel. American Express also has stated the increase in business travel, events and meetings.
Small and medium-sized companies drive the growth of business travel: various small and medium-scale enterprises continue to drive transient business recovery and have increased focus on business travel. This provided an opportunity for various companies to evolve their products to cater to the needs of these small and medium-scale businesses.
Return to office boost: several corporations have stated an increase in the number of workers returning to the office, specifically in the urban areas, boosting the demand for business travel in the companies.
Business leisure growth: an estimated 46% of the global employees have displayed an interest in travelling for business in 2024, which includes more than a third of GenZ and millennial business travellers who plan to have an extended business trip to enjoy their leisure activities after or before their work obligations of the company.
Flexible work management: many business travellers have opted to maximise their time on the road by implementing opportunities for work, friends, family, and leisure, further boosting the demand for extended-stay hotels due to the blended travel trend. Hilton has stated an increase of 15% compared to 2019 in business travellers.
The increase in growth of the global business travel industry will provide the necessary boost to the growth of the global demand for travel management solutions. The increase in growth of business travels will drive the demand for improved and efficient travel management softwares in the market, further boosting the growth and development of travel management software solutions. As per the Global Business Travel Association, the global business travel industry is expected to witness a significant increase in growth in the upcoming years. It was stated that the spending level is projected to pass $1.4 trillion in 2024, which is further expected to increase to reach $1.8 trillion by 2027. It was also stated that global business travel spending has shown an estimated increase of 47% in 2022, which is an increase reaching $1.03 trillion and is expected to further increase by 32% in 2023.
Figure 1: Increase in Business Travel Spending, in USD Trillions, Global, 2022 to 2027
Source: Global Business Travel Association
Furthermore, the Asia Pacific region is expected to witness significant growth in the upcoming years. Some of the major players include Japan, South Korea, Australia, Singapore, Hong Kong, and Malaysia. As per the Global Business Travel Association, regional travel spending accounted for an increase of 41% in 2023, accounting for an estimated US$567 billion, and is expected to increase to reach $800 billion by 2027. It has also been stated that the regional business travel spending in 2023 was expected to reach 92% of the travel spending of 2019, which accounts for an estimated $616 billion. The Asia Pacific region also accounts for 39% of the global total business travel spending, which accounts for an estimated $402 billion in 2022.
Figure 2: Increase in Business Travel Spendings, in USD Trillions, Asia Pacific, 2022 to 2027
Source: Global Business Travel Association
Key Developments:
October 2023: Citi announced the launch of the first complete travel and expense system for Citi Commercial Bank Clients in collaboration with Navan, a leading modern travel and expense management solution. This solution allows integration of the innovative card link technology of Navan Connect, further creating a seamless digital experience for Citi Commercial Bank cardholders. The system was announced to be only available to US-based Citi Commercial Bank clients, due to the solution being their first complete end-to-end corporate Travel and Expense (T&E) management collaboration of this scale.
February 2022: Coupa Software announced the release of their Travel & Expense (T&E) management solution dubbed Coupa Travel & Expense. This solution consists of seamless travel booking, unified expense management, live on-the-road traveller support, and a complete integrated mobile application, further optimizing real-time travel spending and enhancing the traveller experience.
IT automation is the process of managing, streamlining, and automating workflows, processes, and repetitive tasks inside the IT infrastructure using technology. It automates processes like software deployment, system provisioning, monitoring, and maintenance with the use of technologies like scripts, orchestration platforms, and artificial intelligence. Organizations may boost productivity, lower manual error rates, and free up resources for more strategic projects by automating mundane IT tasks. Rapid scalability, increased agility, and improved overall system security and reliability are all made possible by IT automation. The use of IT automation is a crucial part of contemporary IT strategies as companies work to streamline their IT operations and react quickly to shifting needs. Join us as we explore the “Top IT automation trends” in this article that have evolved the automation trends in IT.
Top IT automation trends
Artificial intelligence and machine learning
Hyper-automation
No-code/low-code automation
Cloud automation
Container management
Let’s discuss each one in detail.
1. Artificial Intelligence and Machine Learning
Industry-revolutionizing advances in Artificial Intelligence (AI) and Machine Learning (ML) allow computers to learn from data and make intelligent judgments without explicit programming. While machine learning is a subset of artificial intelligence, it focuses on algorithms that automatically become better with use. AI is the general term for a variety of methods that mimic human intellect. Practical applications of AI and ML are being made in several industries, including manufacturing, healthcare, finance, and retail, to streamline operations, automate procedures, and produce insights from massive datasets. For instance, ML algorithms are used in healthcare to help diagnose patients, and AI-driven chatbots in finance offer individualized client support. Innovation is being fuelled by the combination of AI and ML, which enables businesses to seize new possibilities, improve decision-making, and provide people with more individualized experiences.
The University of Cambridge, Intel Corporation, and Dell Technologies announced in November 2023 the launch of “Dawn Phase 1,” the fastest AI supercomputer that was co-designed. The supercomputer, which harnesses the combined power of AI and high-performance computing (HPC) to address some of the most pressing global issues, was constructed by elite technical teams. It is anticipated that this will hasten future technological leadership and foreign investment in the technology industry in the United Kingdom.
2. Hyper-Automation
Hyper-automation is an all-encompassing automation strategy that uses a variety of technologies, including workflow orchestration, artificial intelligence, robotic process automation (RPA), machine learning, process mining, and process mining. In contrast to classical automation, which concentrates on automating specific tasks, hyper-automation aims to automate decision-making processes as well as whole workflows within the company. Hyper-automation helps businesses become more efficient and agile and simplify their processes by combining various automation technologies. It makes it possible to automate more sophisticated and cognitive processes that call for decision-making abilities comparable to those of a human, as well as repetitive and rule-based operations. Hyper-automation also helps businesses find bottlenecks, understand their processes better, and continuously improve performance.
The most recent version of Enlitic Curie, a platform that streamlines workflow management for radiology departments, was unveiled by Enlitic in March 2023. The platform is home to Curie|ENDEX, which analyzes and processes medical pictures using natural language processing and computer vision, and Curie|ENCOG, which uses artificial intelligence to recognize and safeguard protected health information.
3. No Code/Low Code Automation
Users who lack considerable coding skills can construct automation workflows with the help of no code/low code automation. These systems simplify automation by using pre-built components and easy visual interfaces. Users may quickly construct workflows by dragging and dropping parts. No code/low code solutions facilitate collaboration between business and IT teams by democratizing automation. This accelerates the development cycle and allows for the rapid implementation of automation solutions. By lowering the dependency on conventional programming, this method opens up automation to a wider range of stakeholders, such as business users and citizen developers. In the end, it fosters efficiency, creativity, and agility within businesses by facilitating a quicker reaction to shifting business requirements and freeing up IT resources for more important projects.
For example, in March 2023, Tech Data Corp. and the AI process automation company Simplifai.ai established a strategic agreement. The objective of this collaboration is to introduce Simplifai’s cutting-edge automation solutions to significant markets in the Asia Pacific and Japan area. The partnership expanded Tech Data’s offering of cloud-native technology and AI solutions.
4. Cloud Automation
By using automated procedures and instruments, cloud automation streamlines the management and functioning of cloud-based services, apps, and infrastructure. It includes activities such as orchestration, monitoring, provisioning, and configuration. By doing this, businesses may improve productivity, lower manual error rates, and streamline their cloud operations. By automating routine processes like software deployment, resource provisioning, and scaling, cloud automation allows IT teams to concentrate on key projects. Furthermore, by imposing uniform configurations throughout cloud environments, automation guarantees uniformity and compliance. Through the optimization of resource use and dynamic resource adjustments based on demand, cloud automation offers enterprises cost savings, enhanced scalability, and agility. The utilization of cloud computing by businesses is becoming more and more dependent on cloud automation to fully realize the advantages of the cloud.
At Cisco Live, the flagship networking and security event, in June 2022, Cisco introduced AppDynamics Cloud. A platform for cloud-native observability designed for contemporary applications with ever-more-complex distributed architectures and services. With its focus on ease of use, usability, and intuitiveness, it enables IT teams to provide the outstanding digital experiences that customers, organizations, and end users are currently requesting.
It is anticipated that North America will account for a sizeable portion of the cloud automation industry. A new era of hybrid IT, combining public, private, and hybrid cloud, is being ushered in by numerous regional businesses, surpassing the public cloud. Prominent industry participants have adopted a hybrid cloud approach, which has facilitated their corporate operations and customer support. The usage of Cloud Automation is on the rise in the region due to the growing trends of cyber security and digital transformation. For example, UiPath and Microsoft Worked Together to Deliver the Automation of the Future to the Cloud.
Figure 1: Projected Increase in Productivity Due to AI in Selected Economies Until 2035
Source: World Economic Forum
5. Container Management
The coordination and management of applications that are containerized is known as container management. It entails managing distributed environments through networking, scaling, deployment, and monitoring of containers. These processes can be automated with the help of well-known container management technologies like Kubernetes, which offer features like load balancing, service discovery, and resource utilization optimization. Developers may effectively deploy and manage applications in a scalable and consistent manner while abstracting away the underlying infrastructure concerns with container management. Because of its ability to promote agility, software applications may be developed, tested, and deployed more quickly. Furthermore, by enabling enterprises to develop and implement apps as modular, independently deployable services, container management promotes the use of microservices architecture, improving flexibility and scalability while lowering operational overhead. All things considered, container management simplifies the lifespan of containerized apps, enabling enterprises to adopt contemporary, new development practices.
A multi-year cooperation was announced in April 2022 by Sensely, Keralty S.A.S., and its American affiliate Sanitas USA, Inc. Through this partnership, Sanitas hopes to use Sensely’s cutting-edge visual user interface and multilingual symptom assessment tool to power its next-generation mySanitas application.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/03/Top-IT-Automation-Trends.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-04 05:13:422024-03-04 05:30:22Exploring the Top IT Automation Trends
The sunscreen market is expected to grow at a CAGR of 5.28% with a market valuation of US$$11.372 billion in 2022 and is expected to reach a market value of US$16.204 billion by 2029.
The market for sunscreen products is significantly impacted due to the increasing prevalence of skin diseases and skin cancer worldwide.
As per the report, the market for sunscreens is expected to witness significant growth during the forecasted period.
Sunscreen is a type of product that helps in protecting the human skin from the harmful effects of sun rays, commonly UV rays from the sun. Sunscreen products help the prevention of absorption of Ultraviolet (UV) radiation by the skin, preventing the risk of contracting any kind of skin disease or developing skin cancer. Sunscreen products are known to contain a sun protection factor (SPF), which determines the level at which sunscreen products protect against harmful ultraviolet rays.
The increasing prevalence of skin cancer, coupled with the rising prevalence of skin diseases can be considered a few of the major growth factors in the sunscreen market. Ultraviolet rays are known to be harmful to the body. Ultraviolet radiation is one of the major factors in which the prevalence of skin disease and skin cancer increases, due to the degradation of skin cells from ultraviolet ray exposure. They are also known to premature ageing of the skin, further increasing fine lines, age spots, and the development of wrinkles.
As per the Skin Cancer Foundation, the number of new melanoma cases is expected to display an increase of 7.3% in 2024, among which melanoma deaths are expected to increase by 3.8%. it was also stated that the United States accounted for 200,340 cases of melanoma during 2024, which include 99,700 cases of situ (non-invasive), confined to the epidermis (top layer of the skin), and 100,640 cases of invasive disease, which penetrates the epidermis into the skin’s second layer, known as the dermis. Among the invasive diseases, 59,170 cases are accounted to be in men, and the remaining 41,470 cases are accounted to be in women. This increasing prevalence of skin diseases known as melanoma and other related skin diseases drives the need for skin protection products such as sunscreens, further driving the growth of the global sunscreen market during the forecasted period.
Furthermore, several new products in the market by popular and well-known brands drive the growth of the sunscreen market during the forecasted period. For instance, as of January 2023, Beiersdorf AG, in collaboration with NIVEA, announced the launch of their innovative cosmetic sunscreen that was produced for a young girl with a rare skin disease known as EPP (Erythropoietic Protoporphyria), with the people suffering from the disease dubbed Shadow Jumpers since people with EPP are prone to the disease when exposed to sunlight. The product includes special light scattering pigments, preventing light from penetrating the skin and allowing the girl to be exposed to sunlight without suffering the side effects of the EPP skin disease for a short period, improving the quality of life.
The sunscreen market has been categorized based on type, product type, application, and geography.
Based on type, the sunscreen market is categorized into two types, which include mineral, and chemical. Mineral sunscreens are known to use natural sources of ingredients, whereas chemical sunscreens are known to use chemicalized formulations for production.
Based on product type, the sunscreen market is categorized into five types, which include creams and lotions, gels, sticks, sprays, and powders. Creams and lotions are well known in the sunscreen market and are produced in large quantities in the current period.
Based on application, the sunscreen market is categorized into two types, which include face, and body. Sunscreen is used on both the face and body, preventing the harmful UV rays from harming the skin.
Based on geography, the North American region is expected to witness significant growth in the sunscreen market during the forecasted period. The factors that contribute to the growth in the region is the increasing prevalence of skin diseases in the region, further increasing the demand for skincare products and sunscreen in the market. The United States and Canada are known to boost the growth in the region due to the increasing self-consciousness of skincare in the market. As per the Skin Cancer Foundation, melanoma is one of the most common cancers in the United States, with 1 in 5 Americans developing skin cancer by the age of 70. Furthermore, it was stated that more than 2 people perish from skin cancer every hour in the United States. In the U.S., more than 9,500 people have contracted skin cancer daily. Furthermore, it was stated that the annual cost of treating skin cancers in the United States accounted for an estimated $8.1 billion, which includes $3.3 billion for melanoma-related cancer. This prevalence will drive the need for sunscreen with improved protection properties, further driving the growth of the global sunscreen market.
The research includes several key players from the sunscreen market, such as L’oréal Paris, Kao Singapore Pte. Ltd., Johnson & Johnson Services, Inc., Estée Lauder Inc., Shiseido Co. Ltd., Procter & Gamble Company, Beiersdorf AG, LOTUS HERBALS, Supergoop!, and VLCC Products.
Fairness, accountability, openness, and the welfare of society are given top priority in ethical AI. It guarantees that AI systems protect privacy, don’t have prejudices, and respect human rights. Diverse viewpoints, thorough testing, and ongoing oversight are all necessary for ethical AI design to minimize potential risks. It encourages the ethical application of AI technologies, building confidence among developers, consumers, and impacted communities. In the end, ethical AI seeks to match technical advancement with moral standards and social ideals to enhance humanity rather than exploit it.
Top Ethical AI Tools
Privacy
Accountability
Human Oversight
Transparency
Diversity, non-discrimination, and bias mitigation
Let’s discuss each one in detail.
1. Privacy
In ethical AI, privacy refers to protecting people’s data through the AI lifecycle. It demands unambiguous permission procedures, minimal data gathering, and, when practical, data anonymization or pseudonymization. Strong security measures are also necessary for ethical AI to prevent breaches or unwanted access. To give users clear explanations of data usage and AI decision-making processes, transparency is essential. Constant assessment and auditing guarantee adherence to ethical norms and privacy laws. Additionally, giving people authority over their data promotes accountability and trust in AI systems, helping society strike a healthy balance between technical growth and privacy rights.
The Federal Trade Commission released the preliminary schedule for its annual PrivacyCon event on February 27, 2024. The event will be held virtually on March 6, 2024, and will include talks on a range of privacy and data security research topics.
2. Accountability
To ensure ethical AI, accountability must be established for the creation, implementation, testing, and results of AI systems. It entails defining the parties involved and what their responsibilities are to uphold moral conduct throughout the AI lifespan. Accountability is facilitated by transparent documentation of AI algorithms and decision-making processes, which allows relevant stakeholders to examine and supervise the process. Mechanisms for addressing and resolving possible damages caused by AI systems are included in ethical AI frameworks. Accountability also includes following the law, moral principles, and professional standards. Trust and confidence in the usage of AI systems are fostered by regular audits, impact assessments, and feedback mechanisms that assist track the performance of AI systems and rectify any departures from ethical principles.
In June 2023, The Everyday AI platform, Dataiku, revealed advancements in tools, safety, and enterprise applications of Generative AI. These breakthroughs go beyond the capabilities of typical chatbots and open up the possibility of significant, practical workplace applications. They are developed from the invaluable expertise obtained from working with over 500 customers.
3. Human Oversight
For ethical AI to be implemented responsibly and reliably, human oversight is necessary. It entails incorporating human judgment and intervention at pivotal AI lifecycle stages, like decision-making, model construction, and data collection. Human oversight provides the contextual understanding and ethical reasoning that machines cannot, so mitigating the biases, errors, and unintended effects inherent in AI algorithms. It makes it possible to monitor AI systems for accountability, justice, and adherence to moral and legal requirements. Furthermore, human oversight makes it easier to intervene when AI systems behave unethically or produce undesirable results, enabling the implementation of corrective measures or modifications. By encouraging openness, responsibility, and public acceptance of AI technology, this person-in-the-loop strategy fosters a cooperative interaction between people and machines while respecting human rights.
In February 2024, a Leading provider of AI-driven medical documentation solutions, DeepScribe, unveiled its new Trust and Safety Suite. The cutting-edge capabilities of DeepScribe’s most recent ambient AI technology showcase the company’s commitment to establishing industry norms for safety, ethics, and transparency in AI in healthcare and making sure that technological developments in this field are as reliable as they are ground-breaking. Users and administrators will have access to DeepScribe’s experienced human audits team by sending created notes to the team. After going over the notes and grading the outputs using DeepScribe’s clinical accuracy approach, this team will offer tailored recommendations to raise the output accuracy.
4. Transparency
To foster mutual respect and understanding among stakeholders, ethical AI must be transparent. It entails clearly and understandably revealing details regarding AI systems, such as their goals, data sources, algorithms, and decision-making procedures. Users may evaluate AI systems’ dependability, understand how they work, and foresee any biases or limitations thanks to transparent AI design. Furthermore, open documentation promotes accountability by permitting outside examination and verification of the actions and results of AI systems. Ethical AI frameworks support openness in data gathering, use, and sharing procedures, enabling people to make knowledgeable decisions about their personal information. Transparent communication of AI’s capabilities and limitations also aids in controlling expectations and preventing misuse or over-reliance.
Transparency is further improved by routine reporting and disclosure of AI performance indicators and effects, enabling constant development and adherence to moral standards and cultural norms. In general, openness, accountability, and reliability are encouraged by transparency in the creation and application of AI technologies. To protect people’s rights in the era of artificial intelligence, the General Data Protection Regulation (GDPR) of the European Union contains measures for automated decision-making and profiling.
Due to growing awareness of potential biases and ethical concerns, North America has seen a considerable surge in ethical AI. Policymakers, academics, and tech corporations work together to create frameworks that guarantee AI systems are transparent, accountable, and fair. Research and development expenditures are directed toward improving privacy protections, reducing biases, and encouraging the responsible application of AI. The goals of programs like AI ethics boards and regulatory guidelines are to promote public confidence and set industry standards. This expansion is a result of a concerted effort across North America to maintain ethical standards while utilizing AI’s promise.
Figure 1: AI Adoption Rate Around the World
Source: IBM
5. Diversity, non-discrimination, and bias mitigation
AI programs should interact with a wide range of users to prevent inadvertent bias. If AI is allowed to run amok, it may result in bias or marginalization of some populations. Because not all groups are represented in the development of AI and because not all groups may use AI in the same way or to the same extent, bias might be challenging to eradicate. One crucial first step in reducing discrimination is to encourage inclusion and guarantee that everyone has access to it. Throughout the development and deployment phases, bias can be further mitigated by ongoing evaluations and modifications. Data publication can also encourage the use of impartial AI. It has also been demonstrated that utilizing a variety of data sets reduces the likelihood of bias.
Industry titans including Block, Canva, Carlyle, The Estée Lauder Companies, PwC, and Zapier are already utilizing Open AI’s ChatGPT Enterprise, which was introduced a few months ago, to completely transform the way their businesses run. Introducing ChatGPT Team as a new self-serve option today. Access to sophisticated models, such as GPT-4 and DALL·E 3, and tools, such as Advanced Data Analysis, is provided by the chatGPT Team. It also comes with admin tools to manage a team and a specific collaborative workspace. One can own and control business data, just like with ChatGPT Enterprise.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/02/Tools-of-Ethical-AI.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-03-01 05:04:082024-03-01 05:25:42Exploring the Key Tools of Ethical AI
Demand for Communications and Electronics to Fuel the Semiconductor Dry Etch Systems Market
Thought ArticlesSemiconductor dry etch systems are equipment used in the production of semiconductors, microprocessors, and other microelectronics. The technique is selectively removing or etching specific layers of material from a wafer, leaving behind the patterns and structures required for the device’s operation.
Dry etching systems use a variety of processes to remove material from the wafer surface, including plasma etching, reactive ion etching, and deep reactive ion etching. Dry etching is an important stage in semiconductor production because it enables accurate patterning and the development of detailed patterns on the wafer’s surface. These characteristics may include channels and trenches, which are key components of contemporary semiconductor devices. The capacity to create exact and consistent patterns is required to improve device performance, minimize size, and expand functionality.
The semiconductor dry etch systems market is being pushed by rising demand for improved semiconductor devices and high-resolution patterning capabilities. The drive for better processing speeds, smaller form factors, and more functionality is driving the development of more accurate patterning and etching capabilities. As a result, dry etching has become an important stage in the semiconductor production process.
In the 1980s, the US semiconductor industry lost more than half of its global market share. This was due to fierce competition from Japanese manufacturers, illegal “dumping,” and a severe industrial slump in 1985–86. The sector lost 19 worldwide market share points, surrendering leadership to Japan’s semiconductor industry.
However, the company rebounded throughout the next decade, regaining its leading position and peaking at 50% global market share by 1997. US semiconductor companies maintain a competitive edge in microprocessors, R&D, design, and process technology, with a current market share of 48%, Korea 19%, Japan 9%, the EU 9%, Taiwan 8%, and other nations’ industries accounting for 7–20% of global market share.
Figure 1: Semiconductor Industry Countries Market Share
Source: World Semiconductor Trade Statistics (WSTS), Omdia, and SIA Estimates
The demand for modern semiconductor and electronic equipment, such as microprocessors, memory chips, and sensors, as well as mobile devices, tablets, and laptops, is fast expanding due to the widespread use of digital technology in numerous industries. Higher processing speeds, smaller form factors, and greater functionality are increasing demand for more accurate patterning and etching capabilities.
Furthermore, technical improvements in semiconductor production, such as the development of novel materials, methods, and devices, are increasing demand for more sophisticated dry etch systems. For example, the developments of novel materials like silicon carbide and gallium nitride for high-power and high-frequency devices needs more accurate and uniform etching skills. Furthermore, the growing need for three-dimensional (3D) architecture in semiconductor devices drives the need for deep reactive ion etching (DRIE) equipment.
Consumer-purchased items, including laptops and cellphones, fuel most of the semiconductor demand. Consumer demand is growing in emerging markets such as Asia, Latin America, Eastern Europe, and Africa. Global semiconductor sales are generated by goods that are eventually purchased by customers.
Semiconductors are critical components in a wide range of consumer electronics and products, including smartphones, tablets, laptop computers, TVs, gaming consoles, digital cameras, smart home appliances, wearables, and automotive electronics, among others. These semiconductor chips, also known as integrated circuits (ICs), perform a variety of activities in electronic devices, including processing, memory storage, communication, display control, sensor input, and power management.
According to data from World Semiconductor Trade Statistics Communication sectors have the largest market share of 30% followed by PC/Computer devices that holds the et share of 26% followed by industrial, automotive, consumer sector holding market share of 14% each and government holding 2%.
Figure 2: Global Semiconductor Sales Share by End User
Source: World Semiconductor Trade Statistics (WSTS)
Semiconductor technology is continually evolving to meet the needs of many sectors through enhanced products and processes. Memory, logic, analog, and mpu have been the leading segments of the global semiconductor business in recent years. In 2022, these items represented 78% of semiconductor industry sales.
Figure 3: Worldwide Semiconductor Sales by Product Segment 2022
Source: World Semiconductor Trade Statistics (WSTS)
In conclusion, semiconductor dry etch systems are critical equipment in the semiconductor manufacturing industry for accurate material removal and patterning. They employ plasma, a state of matter made up of ionized gases, to remove material layers from wafers. Compared to wet etching procedures that employ liquid chemicals, this process provides more control, accuracy, and selectivity, making it excellent for generating delicate patterns and features on semiconductor devices.
Key Developments
Genetically Modified Seeds Market size worth US$63.555 billion by 2029
Press ReleasesThe genetically modified seeds market is expected to grow at a CAGR of 8.68% with a market valuation of US$35.492 billion in 2022 and is expected to reach a market value of US$63.555 billion by 2029.
The rise in nutrition concerns, rapid urbanization, and favorable initiatives are key drivers propelling the growth of the genetically modified seeds market.
As per the report, the genetically modified seeds market is expected to grow significantly.
Using cutting-edge technology, genetic modification (GM) modifies an organism’s genetic composition and alters its genetic characteristics in the lab to introduce new traits. The process of genetic modification involves several techniques, including gene splicing, gene silencing, and the application of viral carriers. The production of genetically modified crops and seeds is one of the most popular uses of genetic modification in agricultural practices. Increased yields in the same or less area, decreased crop damage from weeds, diseases, and insects, and the possibility of better nutritional value or other health benefits are some of the benefits of genetically modified seeds over normal seeds. These seeds are modified to address issues like food security and climate change by adding features like pest resistance, herbicide tolerance, or higher nutritional value. The most often modified crops are canola, soybeans, maize, and cotton. Adoption varies by location and crop type. Genetically modified seeds are controversial despite their potential advantages due to worries about the effects they may have on the environment, health risks, and socioeconomic ramifications. Topics like pesticide use, biodiversity loss, and corporate influence over agricultural systems are still being debated. However, as research is driven by changing agricultural requirements and technological breakthroughs, the market for genetically modified seeds is growing. Corteva unveiled a gene-editing technique in March 2023 to safeguard the superior maize hybrids. In particular, for maize growers in North America, the new technology represents the next phase of plant breeding and aims to induce disease-resistant characteristics in the maize genome.
The genetically modified seeds market can be categorized into various crop types: corn, soybean, cotton, canola, and others. With several variables driving demand and adoption, maize and soybeans are likely to continue rising in the genetically modified (GM) seed industry. First of all, among the most extensively grown crops worldwide for use in food, feed, and industrial uses are maize and soybeans. Therefore, farmers have a strong incentive to embrace genetically modified (GM) cultivars that offer features like herbicide tolerance, pest resistance, and increased yields. Second, weed competition, yield unpredictability, and insect pressure are some of the agricultural issues that maize and soybean farmers confront, which makes them excellent candidates for genetically modified agriculture (GM) technology. Features like as glyphosate tolerance in soybeans and Bt insect resistance in maize have gained widespread acceptance because of their proven ability to effectively handle these issues. The adoption of GM maize and soybean varieties is also fuelled by the ongoing rise in the world’s need for food and feed, as well as the need to boost agricultural production to feed an expanding population. Since these crops are essential to the food chain, efforts to modify their genetic makeup should be prioritized for agricultural innovation and sustainability. All things considered, the demand from the market, the difficulties faced by farmers, and the adaptability of GM technology position maize and soybeans for sustained expansion in the GM seed business.
The genetically modified seeds market can be segmented based on resistance, namely herbicide-tolerant and insect-resistant. Within the larger genetically modified seed sector, the market for herbicide-tolerant and insect-resistant GM seeds is a sizable subset. These seeds provide farmers with efficient ways to control weed and insect pressures because they are designed to tolerate the application of particular herbicides or to release proteins poisonous to specific insect pests. Genetically modified seeds that are resistant to herbicides, such as glyphosate, allowing farmers to manage weeds more effectively, increasing agricultural yields and lowering labor expenses. Corn, soybeans, and cotton are examples of glyphosate-resistant crops that have gained considerable traction in areas where weed pressure poses a serious problem. Gene-engineered insect-resistant genetically modified seeds (GM seeds) that generate proteins harmful to particular insect pests (Bacillus thuringiensis, or Bt) reduce the need for chemical insecticides. Beneficial insects and the environment are both preserved while targeted pests are effectively controlled by Bt crops, such as Bt corn, cotton, and soybeans. The market for genetically modified (GM) seeds that are resistant to pesticides and insects is expanding due to several factors, such as the need for sustainable farming methods, improved pest management techniques, and higher agricultural production. Despite debates surrounding genetically modified crops, the use of these features is spreading throughout the world due to their proven advantages in resolving important agricultural issues.
The market for genetically modified (GM) seeds is expanding significantly in the Asia-Pacific area for several reasons. The demand for food and agricultural goods is rising due to factors such as urbanization, rapid population expansion, and shifting dietary preferences. Farmers in the area are using genetically modified (GM) seeds, which provide features like pest resistance, herbicide tolerance, and increased yields, to meet this need sustainably modified crops, like Bt cotton, have gained widespread acceptance in nations like China and India, where agriculture plays a significant role in the economy. This has resulted in appreciable gains in farmer productivity and revenue. Furthermore, the use of insect-resistant genetically modified seeds has lessened crop losses and decreased the need for chemical pesticides due to the presence of diseases and pests in many Asian agricultural landscapes. The use of GM technology is also being fuelled by government programs and policies that aim to increase food security and agricultural production. For example, the Chinese government has approved the commercial cultivation of various genetically modified crops and has actively sponsored biotechnology research and development. Nonetheless, there are several obstacles to the Asia-Pacific region’s GM seed industry expansion. The acceptance of GM crops may be impacted by national differences in regulatory frameworks, food safety, and environmental impact concerns. The way the public views and accepts genetically modified products also continues to play a significant role in determining the direction of the market. Despite these obstacles, the Asia-Pacific area offers a lot of potential for the GM seed industry to grow, driven by the need to meet global food demands and sustainably boost agricultural production.
The genetically modified seeds market is supported by key players such as BASF SE, Bayer AG, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Limagrain.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/genetically-modified-seeds-market
This analytics report segments the genetically modified seeds market on the following basis:
Exploring the Top Energy Industry Trends
Thought ArticlesThe energy sector encompasses the production, distribution, and utilization of a wide range of energy sources, including nuclear power, renewable energy, and fossil fuels. It is necessary for sparking economies and maintaining global infrastructure. Oil and gas, power generation, renewable energy, and energy storage are important segments of the energy economy. Geopolitical unrest, environmental concerns, and the shift to renewable energy sources are some of the obstacles the business must overcome. Technological developments like smart grid systems and renewable energy technologies are changing the face of industry. In addition, to meet the rising demand for energy worldwide while reducing the effects of climate change, the energy sector is putting more and more emphasis on resilience, sustainability, and efficiency. Join us as we explore the “Top Energy industry trends” in this article that have evolved the industry trends in the energy sector.
Top Energy Industry Trends
Let’s discuss each one in detail.
1. Renewable Energy
The world’s energy landscape is changing due to renewable energy, characterized by sources like biomass, solar, wind, and hydroelectric power. It provides environmentally friendly substitutes for conventional fossil fuels, lowering greenhouse gas emissions and slowing down global warming. Photovoltaic panels are used in solar energy to capture sunlight, whereas wind turbines are used in wind power to generate electricity. Electricity is produced by hydroelectric dams using water flow, while biomass energy is produced from organic resources such as wood or agricultural waste. Technologies for renewable energy are developing steadily, becoming more efficient and affordable. Globally, governments are promoting the use of renewable energy through investment incentives, subsidies, and legislation, which is causing the industry to expand quickly. Renewable energy, with its availability and advantages for the environment, is well-positioned to satisfy future energy demands and advance a cleaner, more sustainable future.
The 554 MW Babilonia wind power project will be developed through a joint venture between ArcelorMittal and Casa dos Ventos, a Brazilian renewable energy firm, according to an announcement made by the company in April 2023. The project will be situated in northeastern Brazil’s central area of Bahia and will be developed for USD 800 million. Casa dos Ventos will own the remaining 50% of the joint venture, with ArcelorMittal holding the other 55%.
Figure 1: Installed Capacity for Renewable Energy in India (2023)
Source: Invest India
2. Internet of Energy (IoE)
The Internet of Energy (IoE) is revolutionizing the energy business and promoting the development of a more flexible, efficient, and sustainable energy environment by combining cutting-edge digital technology with traditional energy infrastructure. The IoE enables smooth coordination and communication between energy generation, delivery, and consumption through networked devices, sensors, and smart grids. The IoE leverages real-time data analytics and predictive algorithms to optimize energy management, improve grid reliability, and enable dynamic demand-response mechanisms. Energy and information technologies are coming together to allow consumers to take an active role in the energy market, boost energy efficiency, and reduce carbon emissions. Furthermore, by facilitating the integration of renewable energy sources like solar power, IoE encourages the shift to a cleaner and more resilient energy future.
The official completion of Chevron Corporation’s acquisition of PDC Energy, Inc., took place in August 2023. As part of this deal, Chevron Corporation acquired several assets. These properties are located advantageously next to Chevron’s present activities on 275,000 net acres in the Denver-Julesburg (DJ) Basin. The proved reserves contributed by these recently acquired properties total about one billion oil-equivalent barrels. In addition, production now owns 25,000 net acres in the Permian Basin that are part of the deal.
3. Energy Storage
In the current energy landscape, energy storage is essential because it enhances grid stability, makes it possible to integrate renewable energy sources, and meets fluctuating energy demands. Batteries, pumped hydro storage, thermal energy storage devices, and other technological advancements are all included. These systems store excess energy during periods of low demand and release it during periods of high demand, balancing supply and demand dynamics. The heightened scalability, reduced cost, and better efficiency of energy storage technologies have made them indispensable for both decentralized and centralized energy systems. As the world evolves towards a more sustainable energy future, energy storage devices are critical to deliver backup power in an emergency, incorporate intermittent renewable energy sources like solar and wind, and improve grid resilience.
For example, in February 2022, Albania received 14 PVS-100 inverters, a three-phase string solution, from FIMER and Vega Solar. FIMER’s PVS-100/120-TL is a cloud-connected three-phase string inverter intended for affordable decentralized solar systems installed on rooftops and the ground.
4. Blockchain
The methods for storing, protecting, and exchanging data in digital settings are completely transformed by blockchain technology. Peer-to-peer transactions are made possible by its distributed and decentralized ledger operation, which eliminates the need for middlemen. Since each transaction is documented in a “block” and connected to the others in a chronological “chain,” the data is transparent and unchangeable. Beyond cryptocurrency, supply chain management, identity verification, smart contracts, and decentralized finance (DeFi) are among the uses of blockchain technology. Transparency, security, and traceability are some of its primary advantages that boost efficiency and confidence across a range of businesses. But issues like energy usage, scalability, and regulatory problems still exist. Nevertheless, blockchain is still developing, with new projects and research aimed at resolving these problems and realizing blockchain’s full promise to transform sectors and open up new digital ecosystems.
In January 2023, the widespread adoption of blockchain technology by all spheres of society, from huge multinational corporations to casual DeFi aficionados, is crucial to the industry’s long-term growth and viability. The news that Ava Labs, the primary creator of the Avalanche blockchain technology, has formally partnered with Amazon Web Services (AWS), a cloud computing platform under the management of e-commerce behemoth Amazon.com, has greatly bolstered this aim. AWS is the biggest supplier of cloud infrastructure globally.
The blockchain market has grown significantly in North America because of its growing usage in several areas, including supply chain, healthcare, banking, and government. A hospitable legislative landscape, a strong technological foundation, and widespread interest and investment in blockchain technology are some of the factors driving this rise. Businesses in the area are using blockchain because of its ability to improve digital transactions’ efficiency, security, and transparency. Furthermore, alliances among tech companies, financial institutions, and governmental organizations are quickening the creation and application of blockchain solutions and establishing North America as a primary center for blockchain innovation and application.
5. Energy as a Service (EaaS)
The energy sector is seeing a rise in the practice of providing energy demands as a holistic solution rather than just as a commodity, or energy-as-a-service, or EaaS. It entails the provision of energy services—such as power, lighting, heating, and cooling—through creative business models that put economy, sustainability, and efficiency first. Energy management systems, renewable energy installations, demand response plans, and energy-efficient technology are common components of EaaS solutions. With this strategy, customers may obtain dependable and environmentally friendly energy options without having to pay for new equipment or infrastructure upfront. By outsourcing their energy requirements to specialized service providers, businesses can maximize energy efficiency, minimize operating expenses, and meet their sustainability objectives. Additionally, EaaS models encourage the transition to decentralized energy systems and the incorporation of renewable energy sources.
Reputable cleantech integrator Ameresco, Inc., with an emphasis on energy efficiency and renewable energy, announced today that it has extended its EaaS agreement with Northwestern University. Without needing any up-front funding, the deal will help the university handle its energy-related deferred maintenance challenges while advancing its academic and sustainability goals. As per the agreement, Ameresco will design and implement energy-saving improvements for the 175 buildings on campus and the central plants, in addition to providing ongoing energy monitoring and associated services. Energy efficiency initiatives aimed at these buildings will use state-of-the-art technologies to create more efficient, high-performing building systems, in addition to enhancing the learning environment for students.
Sustainable Solutions: Exploring the Growing Coagulation Analyzer Market
Thought ArticlesThe coagulation analyzer market is the global market for medical devices that examine the coagulation process, or the body’s natural tendency to create blood clots. These devices are generally used to detect and monitor blood clotting diseases such as thrombophilia, hemophilia, and von Willebrand disease.
Coagulation analyzers use a variety of technologies, including optical, mechanical, and electrochemical approaches, to determine the coagulation characteristics of a blood sample. Clotting time, prothrombin time, activated partial thromboplastin time, and international normalized ratio are some of the measures examined.
The expanding prevalence of blood clotting diseases, as well as the growing need for coagulation analyzers for diagnostic reasons, is the primary driver of the need for these solutions. Furthermore, the use of automated coagulation analyzers and the development of new coagulation tests are driving market expansion.
Automated coagulation analyzers provide several advantages over traditional manual procedures, including improved accuracy, efficiency, and speed. Furthermore, the development of sophisticated coagulation tests allows doctors to detect and monitor blood clotting problems with greater accuracy and efficiency.
Haemophilia is a rare hereditary condition affecting one in every three persons in the United States. The median age of diagnosis is 36 months for mild hemophilia, 8 months for moderate hemophilia, and 1 month for severe hemophilia. In two-thirds of instances, a family history exists.
A particular blood test is used to make the diagnosis, which is often performed after birth. Prenatal genetic testing may also be performed. In one-third of instances, the diagnosis is obtained following an atypical bleeding episode that necessitates the use of particular blood testing. The diagnosis of hemophilia in children under the age of two is classified as follows: less than 1-month-old (69.7%), 1-6 months (15.6%), 7-12 months (7.1%), 12-24 months (4.7%), and prenatal (2.8%).
Figure 1: Percentage of Diagnosis of Hemophilia Among Children Less Than 2 Years of Age
Source: Centers for Disease Control and Prevention
The rising prevalence of blood clotting diseases such as thrombophilia, hemophilia, and von Willebrand disease is a significant driver of the coagulation analyzer industry. According to the World Federation of Haemophilia, roughly 400,000 people worldwide have hemophilia, whereas von Willebrand disease affects about 1% of the world’s population. The increasing prevalence of these illnesses is likely to boost demand for coagulation analyzers for use for diagnostic purposes.
The aging population is another significant driver of the coagulation analyzer industry. As people age, their chances of getting blood clotting issues rise. According to the United Nations, the global population aged 65 and up is expected to reach 1.5 billion by 2050, up from 703 million in 2019.
The same source states that the population aged 65 and up accounted for 10% of the global population, a 2% increase over 2015’s percentage share. During the forecast period, demand for coagulation analyzers is likely to rise due to an increase in the aging population.
It took an average of 16 years between the onset of bleeding symptoms and the diagnosis of a bleeding disorder. Before being diagnosed with VWD, women had an average of six bleeding symptoms. Menorrhagia, bruising, nosebleeds, and bleeding after surgery, accident, or delivery were all typical complaints. Menorrhagia was the most commonly reported symptom.VWD was identified after an average of two tests (range: 1-20).
38% of women reported being diagnosed by a Haemophilia Treatment Centre (HTC) doctor. Women diagnosed by providers other than an HTC doctor accounted for 11%, with 42% by a haematologist, 28% by an internist or family doctor, and 19% by a gynecologist.
According to the CDC’s research of 102 women with VWD, the most often reported bleeding symptoms are as follows: heavy menstrual bleeding (95%), bleeding after mild traumas (92%), and excessive gum bleeding (76%).
Figure 2: Bleeding Symptoms in Women With VWD Percentage
Source: Centers for Disease Control and Prevention
The worldwide coagulation analyzer market for platelet function tests is expected to develop significantly because of the rising frequency of bleeding diseases, a growing geriatric population, and increased demand for point-of-care testing. Platelet function tests assess platelets’ capacity to form blood clots, making them a valuable diagnostic tool for diagnosing and treating a variety of bleeding problems.
The market is predicted to expand rapidly due to the development of sophisticated platelet function testing equipment, rising healthcare spending, and rising need for early illness detection. The use of platelet function tests in research and clinical trials will also help to fuel market expansion.
Type 1 Von Willebrand disease (VWD) is a minor hereditary bleeding illness characterized by extended bleeding times. It is caused by mutations in the gene that produces Von Willebrand factor, a protein implicated in blood clotting. This lowers the amount of functional VWF in the circulation. Symptoms include easy bruising, persistent bleeding from small cuts or accidents, frequent nosebleeds, heavy menstrual cycles, and, in extreme cases, bleeding into joints or soft tissues.
According to the CDC’s research of 42 men and 38 women with Type 1 VWD, 45% of women and 50% of men with VWD had severe bruising. 40% of women and 47% of men with VWD experienced significant bleeding during surgery. 34% of women and 29% of men with VWD experienced dental bleeding. 21% of women and 26% of men with VWD had undergone blood transfusions.
Figure 3: Bleeding in Men and Women With VWD
Source: Centers for Disease Control and Prevention
Geographically, the coagulation analyzer market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. The North American coagulation analyzer market is likely to expand substantially throughout the forecast period due to an increase in the frequency of coagulation diseases, rising healthcare costs, and increased demand for sophisticated coagulation testing. The United States is likely to be a key market in this area because of its large market participants, well-established healthcare infrastructure, and beneficial government initiatives.
In conclusion, Coagulation analyzers vary in complexity, from simple point-of-care devices used in clinics or hospitals to high-throughput laboratory systems capable of processing large numbers of samples simultaneously. They play a critical role in ensuring patient safety during surgical procedures, managing patients with bleeding disorders, and monitoring anticoagulant therapy in conditions such as atrial fibrillation or deep vein thrombosis.
Table 1: Key Developments
Year
January 2024
Abbott’s PROTALITY™ brand, a high-protein nutrition shake, targets individuals who want to lose weight while preserving muscle mass and nutrition. Nearly half of individuals in the United States have tried to lose weight in the last year, and research showed that adults may require at least 50% more protein than the Recommended Dietary allowance to maintain muscle mass while losing weight.
January 2024
Beckman Coulter Diagnostics launched the DxC 500 aU Chemistry Analyzer, an automated clinical chemistry analyzer for healthcare systems. It provided superior automation technologies, onboarding protocols, and standardized reagents for use in healthcare networks. With over 120 tests that had been independently confirmed for Six Sigma performance, it minimizes QC troubleshooting and lab operating expenses. This gadget is intended for in vitro diagnostic usage only.
Source: Knowledge Sourcing Intelligence Analysis
Seeking Colors: Unveiling the Magnificence of Iron Oxide Pigments
Thought ArticlesBecause of their exceptional qualities, iron oxide pigments are flexible colorants that are extensively employed in a variety of sectors. These pigments, which are made from iron oxide minerals, are good for a variety of applications due to their high tinting power, great lightfastness, and chemical stability. Iron oxide pigments are widely used in the construction sector to color bricks, asphalt, and concrete, giving structures and infrastructure strength and visual appeal. They are also utilized in the production of ceramics, paints, varnishes, and plastics, where they add vivid and durable colors. Furthermore, because iron oxide pigments are non-toxic and inert, they are used in the pharmaceutical and cosmetics sectors. Iron oxide pigments are essential in many industries due to their wide range of uses and advantageous qualities, which boost products and materials. Join us as we explore the “Iron Oxide Pigments” in this article that has evolved the industry.
Iron Oxide Pigments:
Let’s discuss each one in detail.
1. Yellow Iron oxide Pigment
Yellow iron oxide pigment is a versatile coloring ingredient that is well-known for its brilliant hue and exceptional performance features. It can be synthesized chemically or extracted from natural iron oxide minerals. This pigment is widely used in many different industries and is distinguished by its distinctive yellow color. Yellow iron oxide pigment is frequently used in the construction industry to tint asphalt, concrete, and mortar. This adds visual appeal to the materials while also making them more resilient to the elements and long-lasting. It is a favored option for outdoor applications because of its resilience to adverse climatic conditions. Furthermore, yellow iron oxide pigment is highly valued in the paint and coating sector for its exceptional tinting strength, lightfastness, and chemical stability, which allow for the creation of vivid and long-lasting yellow hues in paints, coatings, and stains. Furthermore, it is used in rubber, plastics, and ceramics to provide a wide variety of products with a vibrant yellow color. Because yellow iron oxide pigment is non-toxic and works well with a variety of formulations, it is used in the cosmetics and personal care industry to formulate makeup goods including lipsticks, nail polishes, and eyeshadows. Yellow iron oxide pigment is still an essential part of many sectors due to its dependability and versatility, which improves the appearance and functionality of a broad range of goods and materials.
In December 2022, following their recent deal to purchase the iron oxide pigment activities of Venator Materials PLC, Cathay Industries announced the opening of a state-of-the-art finishing and blending facility in Batam, Indonesia. The plant will start producing goods in late 2023, adding to Cathay Industries’ already extensive global reach.
2. Red Iron oxide pigment
Hematite, or red iron oxide pigment, is a popular colorant that is well-known for its remarkable qualities and bright red color. This pigment, which can be chemically synthesized or derived from natural iron oxide deposits, has exceptional thermal stability, lightfastness, and tinting strength. Many industries, such as building, coatings, plastics, and ceramics, are greatly attracted to its deep red color. Red iron oxide pigment is a common component used in the building industry to color bricks, pavers, concrete, and roofing materials. It gives architectural constructions strength and visual appeal. Similar to this, it is used in the coatings industry to make paints, varnishes, and protective coatings for everything from industrial gear to automotive finishes, adding vivid and durable red hues while guaranteeing corrosion resistance. Furthermore, red iron oxide pigment is often used in plastics to improve the UV resilience and aesthetic appeal of toys, consumer goods, and packaging. It is used in the ceramics industry to color and glaze ceramics, porcelain, and tiles, giving the final goods more depth and richness. Red iron oxide pigment is a very versatile, long-lasting, and visually appealing pigment that is used in many different production industries to improve a wide range of products and materials.
In November 2022, Cathay Industries made an announcement announcing that it had reached a deal with Venator Materials PLC to acquire its iron oxide pigment business. This acquisition will enable Cathay Industries to expand its global production presence while generating significant synergies and new growth prospects. The acquisition includes eight production facilities and one administrative site spread over six nations on four continents in addition to Venator’s product line.
3. Black Iron oxide pigment
Originating from iron oxide minerals, black iron oxide pigment is a multipurpose coloring ingredient that is well-known for its rich, opaque black color and remarkable resilience. Many different sectors find it to be a popular choice because of its longevity and strong pigment. Black iron oxide pigment is widely used in construction to color paving stones, mortar, and concrete. This gives the materials a polished, modern look while protecting them from fading and weathering. It also plays a crucial role in the production of black paints, stains, and coatings for industrial machines, automotive finishes, and architectural applications in the coatings and paints sector. Long-lasting performance in outdoor conditions is ensured by its resistance to chemicals and UV radiation, and its high tinting strength offers rich, consistent colors. Additionally, black iron oxide pigment is used in It adds rich, opaque black color to a variety of materials, from consumer goods to industrial components, in plastics, rubber, and textiles. It is used to provide strong pigmentation and improve the look of beauty items such as mascaras and eyeliners in the cosmetics and personal care industry. Black iron oxide pigment is still in high demand across many industries due to its adaptability, toughness, and rich black color. It enhances the appearance, functionality, and durability of a wide range of goods and materials.
In April 2023, Following the successful completion of the purchase of Venator’s color division, Oxerra, a new brand identity and name for Cathay Industries, a prominent global maker of iron oxide pigments, was introduced. Combining the products and services of both companies establishes Oxerra as a world-renowned leader in the coating, plastic, construction, and specialty industries. It also positions Oxerra as a manufacturer of comprehensive color solutions and a supplier of cutting-edge, sustainable, and innovative solutions.
4. Orange Iron Oxide Pigment
Because of its brilliant color and outstanding performance qualities, orange iron oxide pigment is a flexible coloring ingredient that is used extensively in a variety of sectors. This pigment, which is derived from iron oxide rocks, is widely sought-after for its rich orange color in a variety of applications. Orange iron oxide pigment is frequently used in the construction industry to color paving materials, mortar, and concrete. Because of its superior weather resistance and lightfastness, colored surfaces stay vibrant for longer periods even in the face of adverse weather conditions. Furthermore, orange iron oxide pigment is used in the coatings and paints sector to add warmth and brightness to a variety of goods, such as industrial coatings, automotive paints, and architectural coatings. Its ability to work with various solvents and binding agents makes it a recommended option for producers looking for reliable and long-lasting coloring. Orange iron oxide pigment is used in polymers, ceramics, and textiles in addition to building and coatings. It enhances the aesthetic appeal of a range of things made of plastic, such as consumer goods, toys, and packaging. It is an essential component of glazes and ceramic bodies used in the production of ceramics, helping to produce colorful and visually appealing tiles and pottery. Orange iron oxide pigment is also used in the textile industry to dye fabrics, providing a long-lasting and colorfast way to get vivid orange colors in apparel and household textiles. Overall, orange iron oxide pigment’s adaptability, robustness, and vivid hue make it a necessary component for a variety of sectors, improving aesthetic appeal and performance.
In June 2022, the plastics sector may color engineering plastics with high-performance, environmentally friendly colorants from the specialty chemicals business LANXESS. The company will showcase its product lines for the energy-efficient production of plastic goods that avoid reworking by eliminating the need for further coating at K 2022, which is scheduled to take place in Düsseldorf, Germany from October 19 to 26. This covers both general-purpose items and those tailored to specific needs. The property profile is determined by factors such as heat stability, color strength, resistance to light and weather, and brilliance, depending on the product.
As a safety precaution, orange is required for high-voltage components. Live wires in electric and hybrid cars as well as parts for high-voltage applications are increasingly being marked with this colour. The purpose of the signal colour is to warn emergency services and mechanics about the possible risk of electric shock. LANXESS has created a soluble organic dye that can be used to permanently colour polymers in the shade of orange found in RAL 2003. Macrolex Orange HT has exceptional colour strength and brilliance and is extremely heat-stable, light-fast, and weather-resistant. In contrast to most traditional colourants, the halogen-free Macrolex Orange HT is ideal for use with polyamide as well as other common plastics like polycarbonate and polyphenylene sulphide, which require high processing temperatures to be processed.
Figure 1: World Mine Production, 2023 (In Tonnes)
Source: USGS
Emotional AI Market is projected to grow at a CAGR of 13.19% to reach US$70.033 billion in 2029
Press ReleasesThe emotional AI market is expected to grow at a CAGR of 13.19% with a market valuation of US$29.412 billion in 2022 and is expected to reach a market value of US$70.033 billion by 2029.
Demand for personalized experiences, improved customer engagement, and rise in IoT and wearables are key drivers propelling the growth of the emotional AI market.
As per the report, the emotional AI market is expected to grow significantly.
Affective computing, another name for emotional artificial intelligence, transforms human-computer interaction by allowing computers to perceive, understand, and react to human emotions. Emotional AI improves a range of applications, such as virtual assistants, customer service, healthcare, and entertainment, by leveraging sophisticated algorithms and data analytics. Emotional AI promotes user engagement, makes better decisions, and offers tailored experiences by studying physiological signs, speech tones, and facial expressions. But issues like privacy worries, moral dilemmas, and the requirement for open algorithms continue to exist. Notwithstanding these obstacles, the market for emotionally intelligent technology is still growing quickly as more and more sectors realize how revolutionary these tools may be.
The market for emotional AI is expanding quickly because of developments in machine learning and artificial intelligence. Affective computing, another name for emotional artificial intelligence, is the study of identifying, analyzing, and reacting to human emotions. Applications are used in many different industries, including customer service, retail, healthcare, and automotive. Personalized experiences, better human-computer interactions, and superior decision-making processes are all made possible by emotional AI. The need for mental health monitoring tools, sentiment analysis in customer feedback, and compassionate virtual assistants are some of the major motivators. But issues like data security requirements, ethical dilemmas, and privacy issues continue to be important influences on the emotional AI sector. For instance, The “GENIUS” project, initiated by Antolin in July 2023, sought to create Artificial Intelligence capable of identifying moods and emotional and cognitive states through real-time sensing and correlation with physiological characteristics.
Based on deployment, The emotional AI market is anticipated to grow in both the on-premises and cloud deployment sectors. For businesses in sectors like healthcare and finance that have sensitive data issues or strict regulatory requirements, on-premises deployment gives them more control over their data. As businesses emphasize data security and privacy and use emotional AI for applications like sentiment analysis, customer feedback analysis, and tailored services, this market is expected to rise steadily.On the other hand, cloud deployment appeals to a wider range of sectors due to its scalability, affordability, and accessibility. Real-time analysis, interaction with current cloud-based systems, and simpler deployment across geographically dispersed teams are all made possible by cloud-based emotional AI solutions. The desire for real-time customer insights, personalized experiences, and content recommendations is likely to propel significant growth in this area, particularly in industries like retail, marketing, and entertainment. However, because of the growing demand for scalable AI solutions, the proliferation of IoT devices producing massive volumes of data, and the increasing use of Software-as-a-Service (SaaS) models, the cloud deployment industry is expected to grow at a faster rate. The adoption of cloud-based emotional AI solutions will also be accelerated by developments in cloud infrastructure, particularly in industries that need real-time processing and decision-making. These developments include edge computing capabilities.
Medical emergencies and healthcare environments are finding great use in emotion detection technology. Efficient treatment delivery in emergency scenarios, such cardiac arrests or trauma, may depend on prompt and precise patient emotional assessment. By integrating emotion detection technologies into wearables or monitoring systems, medical professionals can be informed in real time about a patient’s emotional state and can be alerted to indicators of discomfort or worry. Emotion detection technology is transforming patient care in the medical field by improving patient-provider communication. It supports the evaluation of patient satisfaction, comprehension of affective reactions to therapy, and detection of indicators of mental health conditions like anxiety or depression. Through the analysis of physiological reactions, facial expressions, and voice signals, this technology can offer insightful diagnostic data that supports early intervention. Furthermore, emotion detection technology allows medical personnel to assess a patient’s well-being in telemedicine and remote patient monitoring contexts beyond their physical symptoms, even in cases where the patient is not present. This has the potential to improve patient outcomes and general satisfaction with healthcare services by facilitating more effective and sympathetic remote consultations. It is anticipated that as technology develops, its application in healthcare and medical crises will grow, improving patient outcomes and care.
The market for emotional AI is expanding rapidly in the Asia-Pacific area because to reasons like growing internet penetration, fast digitalization, and a growing population of tech-savvy people. Demand for emotional AI solutions is soaring as companies in a wide range of industries realize how important it is to comprehend and address client emotions. The region’s diversified consumer base, which presents a wide range of cultural nuances and linguistic complexity and necessitates customized emotional AI solutions for effective engagement, is one of the main drivers of growth. Emotional AI is being used by the retail, e-commerce, and customer service industries to customize encounters, improve consumer pleasure, and foster loyalty.
Furthermore, emotional AI is being used in the Asia-Pacific healthcare industry for tasks including patient engagement, mental health monitoring, and therapy support Emotional AI solutions provide scalable and easily available mental health support services, particularly in light of the region’s growing mental health issues. Emotional AI is also becoming more widely used in industries like finance, transportation, and education because to government programs that support innovation and digital transformation. This covers both the funding of R&D and the establishment of helpful regulatory frameworks. All things considered, the Asia-Pacific emotional AI market is expected to grow significantly due to a combination of new technology, changing customer demands, and proactive business tactics that target the provision of emotionally intelligent experiences.
The emotional AI market is supported by key players such as Entropik Tech, Google Inc., IBM Corporation, Amazon Inc., Elokence, and more.
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This analytics report segments the emotional AI market on the following basis:
Market Segmentation:
Travel Management Software Enhance Efficiency in Business Travel
Thought ArticlesTravel Management Software
Travel Management is an application that helps businesses manage bookings, and track and analyse the company’s travel processes. It simplifies travel management, further saving time and money for the company. Some of the various features that are included in a travel management tool are individual account handling, customizable travel policies, customer support, travel spending analytics, data encryption and security, an easy-to-use booking system, loyalty programs, expense tools for seamless integration, and many others.
The wide range of benefits that travel management solutions bring include simplified travel bookings, business travel personalization, substantial travel inventory, travel cost savings, advanced analytics, streamlined approval workflow, round-the-clock support, on-demand scalability, easy access, virtual travel consultancy, and many others.
One of the largest travel management systems present in the market is SAP Concur, which provides a one-stop software system for all of the company’s travel arrangements that need to be handled. Their platform helps manage travel budgeting, policy, and reporting, making sure that everything is always running as per the requirements. The features of the software provided by SAP include:
Rising business travels worldwide propels the travel management software market.
Travel management software is commonly used by companies to manage expenses and track the details of employee’s business trips. This allows the company to know all kinds of information on business travel, which include the location of the employee, expenses for the business trip, policies of the business trip, spending of the employee from the company, and many others.
The US Travel Association states that the business travel trend has shown a significant acceleration in the world. The various trends, as per the US Travel Association, include:
The increase in growth of the global business travel industry will provide the necessary boost to the growth of the global demand for travel management solutions. The increase in growth of business travels will drive the demand for improved and efficient travel management softwares in the market, further boosting the growth and development of travel management software solutions. As per the Global Business Travel Association, the global business travel industry is expected to witness a significant increase in growth in the upcoming years. It was stated that the spending level is projected to pass $1.4 trillion in 2024, which is further expected to increase to reach $1.8 trillion by 2027. It was also stated that global business travel spending has shown an estimated increase of 47% in 2022, which is an increase reaching $1.03 trillion and is expected to further increase by 32% in 2023.
Figure 1: Increase in Business Travel Spending, in USD Trillions, Global, 2022 to 2027
Source: Global Business Travel Association
Furthermore, the Asia Pacific region is expected to witness significant growth in the upcoming years. Some of the major players include Japan, South Korea, Australia, Singapore, Hong Kong, and Malaysia. As per the Global Business Travel Association, regional travel spending accounted for an increase of 41% in 2023, accounting for an estimated US$567 billion, and is expected to increase to reach $800 billion by 2027. It has also been stated that the regional business travel spending in 2023 was expected to reach 92% of the travel spending of 2019, which accounts for an estimated $616 billion. The Asia Pacific region also accounts for 39% of the global total business travel spending, which accounts for an estimated $402 billion in 2022.
Figure 2: Increase in Business Travel Spendings, in USD Trillions, Asia Pacific, 2022 to 2027
Source: Global Business Travel Association
Key Developments:
October 2023: Citi announced the launch of the first complete travel and expense system for Citi Commercial Bank Clients in collaboration with Navan, a leading modern travel and expense management solution. This solution allows integration of the innovative card link technology of Navan Connect, further creating a seamless digital experience for Citi Commercial Bank cardholders. The system was announced to be only available to US-based Citi Commercial Bank clients, due to the solution being their first complete end-to-end corporate Travel and Expense (T&E) management collaboration of this scale.
February 2022: Coupa Software announced the release of their Travel & Expense (T&E) management solution dubbed Coupa Travel & Expense. This solution consists of seamless travel booking, unified expense management, live on-the-road traveller support, and a complete integrated mobile application, further optimizing real-time travel spending and enhancing the traveller experience.
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Exploring the Top IT Automation Trends
Thought ArticlesIT automation is the process of managing, streamlining, and automating workflows, processes, and repetitive tasks inside the IT infrastructure using technology. It automates processes like software deployment, system provisioning, monitoring, and maintenance with the use of technologies like scripts, orchestration platforms, and artificial intelligence. Organizations may boost productivity, lower manual error rates, and free up resources for more strategic projects by automating mundane IT tasks. Rapid scalability, increased agility, and improved overall system security and reliability are all made possible by IT automation. The use of IT automation is a crucial part of contemporary IT strategies as companies work to streamline their IT operations and react quickly to shifting needs. Join us as we explore the “Top IT automation trends” in this article that have evolved the automation trends in IT.
Top IT automation trends
Let’s discuss each one in detail.
1. Artificial Intelligence and Machine Learning
Industry-revolutionizing advances in Artificial Intelligence (AI) and Machine Learning (ML) allow computers to learn from data and make intelligent judgments without explicit programming. While machine learning is a subset of artificial intelligence, it focuses on algorithms that automatically become better with use. AI is the general term for a variety of methods that mimic human intellect. Practical applications of AI and ML are being made in several industries, including manufacturing, healthcare, finance, and retail, to streamline operations, automate procedures, and produce insights from massive datasets. For instance, ML algorithms are used in healthcare to help diagnose patients, and AI-driven chatbots in finance offer individualized client support. Innovation is being fuelled by the combination of AI and ML, which enables businesses to seize new possibilities, improve decision-making, and provide people with more individualized experiences.
The University of Cambridge, Intel Corporation, and Dell Technologies announced in November 2023 the launch of “Dawn Phase 1,” the fastest AI supercomputer that was co-designed. The supercomputer, which harnesses the combined power of AI and high-performance computing (HPC) to address some of the most pressing global issues, was constructed by elite technical teams. It is anticipated that this will hasten future technological leadership and foreign investment in the technology industry in the United Kingdom.
2. Hyper-Automation
Hyper-automation is an all-encompassing automation strategy that uses a variety of technologies, including workflow orchestration, artificial intelligence, robotic process automation (RPA), machine learning, process mining, and process mining. In contrast to classical automation, which concentrates on automating specific tasks, hyper-automation aims to automate decision-making processes as well as whole workflows within the company. Hyper-automation helps businesses become more efficient and agile and simplify their processes by combining various automation technologies. It makes it possible to automate more sophisticated and cognitive processes that call for decision-making abilities comparable to those of a human, as well as repetitive and rule-based operations. Hyper-automation also helps businesses find bottlenecks, understand their processes better, and continuously improve performance.
The most recent version of Enlitic Curie, a platform that streamlines workflow management for radiology departments, was unveiled by Enlitic in March 2023. The platform is home to Curie|ENDEX, which analyzes and processes medical pictures using natural language processing and computer vision, and Curie|ENCOG, which uses artificial intelligence to recognize and safeguard protected health information.
3. No Code/Low Code Automation
Users who lack considerable coding skills can construct automation workflows with the help of no code/low code automation. These systems simplify automation by using pre-built components and easy visual interfaces. Users may quickly construct workflows by dragging and dropping parts. No code/low code solutions facilitate collaboration between business and IT teams by democratizing automation. This accelerates the development cycle and allows for the rapid implementation of automation solutions. By lowering the dependency on conventional programming, this method opens up automation to a wider range of stakeholders, such as business users and citizen developers. In the end, it fosters efficiency, creativity, and agility within businesses by facilitating a quicker reaction to shifting business requirements and freeing up IT resources for more important projects.
For example, in March 2023, Tech Data Corp. and the AI process automation company Simplifai.ai established a strategic agreement. The objective of this collaboration is to introduce Simplifai’s cutting-edge automation solutions to significant markets in the Asia Pacific and Japan area. The partnership expanded Tech Data’s offering of cloud-native technology and AI solutions.
4. Cloud Automation
By using automated procedures and instruments, cloud automation streamlines the management and functioning of cloud-based services, apps, and infrastructure. It includes activities such as orchestration, monitoring, provisioning, and configuration. By doing this, businesses may improve productivity, lower manual error rates, and streamline their cloud operations. By automating routine processes like software deployment, resource provisioning, and scaling, cloud automation allows IT teams to concentrate on key projects. Furthermore, by imposing uniform configurations throughout cloud environments, automation guarantees uniformity and compliance. Through the optimization of resource use and dynamic resource adjustments based on demand, cloud automation offers enterprises cost savings, enhanced scalability, and agility. The utilization of cloud computing by businesses is becoming more and more dependent on cloud automation to fully realize the advantages of the cloud.
At Cisco Live, the flagship networking and security event, in June 2022, Cisco introduced AppDynamics Cloud. A platform for cloud-native observability designed for contemporary applications with ever-more-complex distributed architectures and services. With its focus on ease of use, usability, and intuitiveness, it enables IT teams to provide the outstanding digital experiences that customers, organizations, and end users are currently requesting.
It is anticipated that North America will account for a sizeable portion of the cloud automation industry. A new era of hybrid IT, combining public, private, and hybrid cloud, is being ushered in by numerous regional businesses, surpassing the public cloud. Prominent industry participants have adopted a hybrid cloud approach, which has facilitated their corporate operations and customer support. The usage of Cloud Automation is on the rise in the region due to the growing trends of cyber security and digital transformation. For example, UiPath and Microsoft Worked Together to Deliver the Automation of the Future to the Cloud.
Figure 1: Projected Increase in Productivity Due to AI in Selected Economies Until 2035
Source: World Economic Forum
5. Container Management
The coordination and management of applications that are containerized is known as container management. It entails managing distributed environments through networking, scaling, deployment, and monitoring of containers. These processes can be automated with the help of well-known container management technologies like Kubernetes, which offer features like load balancing, service discovery, and resource utilization optimization. Developers may effectively deploy and manage applications in a scalable and consistent manner while abstracting away the underlying infrastructure concerns with container management. Because of its ability to promote agility, software applications may be developed, tested, and deployed more quickly. Furthermore, by enabling enterprises to develop and implement apps as modular, independently deployable services, container management promotes the use of microservices architecture, improving flexibility and scalability while lowering operational overhead. All things considered, container management simplifies the lifespan of containerized apps, enabling enterprises to adopt contemporary, new development practices.
A multi-year cooperation was announced in April 2022 by Sensely, Keralty S.A.S., and its American affiliate Sanitas USA, Inc. Through this partnership, Sanitas hopes to use Sensely’s cutting-edge visual user interface and multilingual symptom assessment tool to power its next-generation mySanitas application.
Sunscreen Market size worth US$16.204 billion by 2029
Press ReleasesThe sunscreen market is expected to grow at a CAGR of 5.28% with a market valuation of US$$11.372 billion in 2022 and is expected to reach a market value of US$16.204 billion by 2029.
The market for sunscreen products is significantly impacted due to the increasing prevalence of skin diseases and skin cancer worldwide.
As per the report, the market for sunscreens is expected to witness significant growth during the forecasted period.
Sunscreen is a type of product that helps in protecting the human skin from the harmful effects of sun rays, commonly UV rays from the sun. Sunscreen products help the prevention of absorption of Ultraviolet (UV) radiation by the skin, preventing the risk of contracting any kind of skin disease or developing skin cancer. Sunscreen products are known to contain a sun protection factor (SPF), which determines the level at which sunscreen products protect against harmful ultraviolet rays.
The increasing prevalence of skin cancer, coupled with the rising prevalence of skin diseases can be considered a few of the major growth factors in the sunscreen market. Ultraviolet rays are known to be harmful to the body. Ultraviolet radiation is one of the major factors in which the prevalence of skin disease and skin cancer increases, due to the degradation of skin cells from ultraviolet ray exposure. They are also known to premature ageing of the skin, further increasing fine lines, age spots, and the development of wrinkles.
As per the Skin Cancer Foundation, the number of new melanoma cases is expected to display an increase of 7.3% in 2024, among which melanoma deaths are expected to increase by 3.8%. it was also stated that the United States accounted for 200,340 cases of melanoma during 2024, which include 99,700 cases of situ (non-invasive), confined to the epidermis (top layer of the skin), and 100,640 cases of invasive disease, which penetrates the epidermis into the skin’s second layer, known as the dermis. Among the invasive diseases, 59,170 cases are accounted to be in men, and the remaining 41,470 cases are accounted to be in women. This increasing prevalence of skin diseases known as melanoma and other related skin diseases drives the need for skin protection products such as sunscreens, further driving the growth of the global sunscreen market during the forecasted period.
Furthermore, several new products in the market by popular and well-known brands drive the growth of the sunscreen market during the forecasted period. For instance, as of January 2023, Beiersdorf AG, in collaboration with NIVEA, announced the launch of their innovative cosmetic sunscreen that was produced for a young girl with a rare skin disease known as EPP (Erythropoietic Protoporphyria), with the people suffering from the disease dubbed Shadow Jumpers since people with EPP are prone to the disease when exposed to sunlight. The product includes special light scattering pigments, preventing light from penetrating the skin and allowing the girl to be exposed to sunlight without suffering the side effects of the EPP skin disease for a short period, improving the quality of life.
The sunscreen market has been categorized based on type, product type, application, and geography.
Based on type, the sunscreen market is categorized into two types, which include mineral, and chemical. Mineral sunscreens are known to use natural sources of ingredients, whereas chemical sunscreens are known to use chemicalized formulations for production.
Based on product type, the sunscreen market is categorized into five types, which include creams and lotions, gels, sticks, sprays, and powders. Creams and lotions are well known in the sunscreen market and are produced in large quantities in the current period.
Based on application, the sunscreen market is categorized into two types, which include face, and body. Sunscreen is used on both the face and body, preventing the harmful UV rays from harming the skin.
Based on geography, the North American region is expected to witness significant growth in the sunscreen market during the forecasted period. The factors that contribute to the growth in the region is the increasing prevalence of skin diseases in the region, further increasing the demand for skincare products and sunscreen in the market. The United States and Canada are known to boost the growth in the region due to the increasing self-consciousness of skincare in the market. As per the Skin Cancer Foundation, melanoma is one of the most common cancers in the United States, with 1 in 5 Americans developing skin cancer by the age of 70. Furthermore, it was stated that more than 2 people perish from skin cancer every hour in the United States. In the U.S., more than 9,500 people have contracted skin cancer daily. Furthermore, it was stated that the annual cost of treating skin cancers in the United States accounted for an estimated $8.1 billion, which includes $3.3 billion for melanoma-related cancer. This prevalence will drive the need for sunscreen with improved protection properties, further driving the growth of the global sunscreen market.
The research includes several key players from the sunscreen market, such as L’oréal Paris, Kao Singapore Pte. Ltd., Johnson & Johnson Services, Inc., Estée Lauder Inc., Shiseido Co. Ltd., Procter & Gamble Company, Beiersdorf AG, LOTUS HERBALS, Supergoop!, and VLCC Products.
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This sunscreen market has been analyzed into the following segments:
Exploring the Key Tools of Ethical AI
Thought ArticlesFairness, accountability, openness, and the welfare of society are given top priority in ethical AI. It guarantees that AI systems protect privacy, don’t have prejudices, and respect human rights. Diverse viewpoints, thorough testing, and ongoing oversight are all necessary for ethical AI design to minimize potential risks. It encourages the ethical application of AI technologies, building confidence among developers, consumers, and impacted communities. In the end, ethical AI seeks to match technical advancement with moral standards and social ideals to enhance humanity rather than exploit it.
Top Ethical AI Tools
Let’s discuss each one in detail.
1. Privacy
In ethical AI, privacy refers to protecting people’s data through the AI lifecycle. It demands unambiguous permission procedures, minimal data gathering, and, when practical, data anonymization or pseudonymization. Strong security measures are also necessary for ethical AI to prevent breaches or unwanted access. To give users clear explanations of data usage and AI decision-making processes, transparency is essential. Constant assessment and auditing guarantee adherence to ethical norms and privacy laws. Additionally, giving people authority over their data promotes accountability and trust in AI systems, helping society strike a healthy balance between technical growth and privacy rights.
The Federal Trade Commission released the preliminary schedule for its annual PrivacyCon event on February 27, 2024. The event will be held virtually on March 6, 2024, and will include talks on a range of privacy and data security research topics.
2. Accountability
To ensure ethical AI, accountability must be established for the creation, implementation, testing, and results of AI systems. It entails defining the parties involved and what their responsibilities are to uphold moral conduct throughout the AI lifespan. Accountability is facilitated by transparent documentation of AI algorithms and decision-making processes, which allows relevant stakeholders to examine and supervise the process. Mechanisms for addressing and resolving possible damages caused by AI systems are included in ethical AI frameworks. Accountability also includes following the law, moral principles, and professional standards. Trust and confidence in the usage of AI systems are fostered by regular audits, impact assessments, and feedback mechanisms that assist track the performance of AI systems and rectify any departures from ethical principles.
In June 2023, The Everyday AI platform, Dataiku, revealed advancements in tools, safety, and enterprise applications of Generative AI. These breakthroughs go beyond the capabilities of typical chatbots and open up the possibility of significant, practical workplace applications. They are developed from the invaluable expertise obtained from working with over 500 customers.
3. Human Oversight
For ethical AI to be implemented responsibly and reliably, human oversight is necessary. It entails incorporating human judgment and intervention at pivotal AI lifecycle stages, like decision-making, model construction, and data collection. Human oversight provides the contextual understanding and ethical reasoning that machines cannot, so mitigating the biases, errors, and unintended effects inherent in AI algorithms. It makes it possible to monitor AI systems for accountability, justice, and adherence to moral and legal requirements. Furthermore, human oversight makes it easier to intervene when AI systems behave unethically or produce undesirable results, enabling the implementation of corrective measures or modifications. By encouraging openness, responsibility, and public acceptance of AI technology, this person-in-the-loop strategy fosters a cooperative interaction between people and machines while respecting human rights.
In February 2024, a Leading provider of AI-driven medical documentation solutions, DeepScribe, unveiled its new Trust and Safety Suite. The cutting-edge capabilities of DeepScribe’s most recent ambient AI technology showcase the company’s commitment to establishing industry norms for safety, ethics, and transparency in AI in healthcare and making sure that technological developments in this field are as reliable as they are ground-breaking. Users and administrators will have access to DeepScribe’s experienced human audits team by sending created notes to the team. After going over the notes and grading the outputs using DeepScribe’s clinical accuracy approach, this team will offer tailored recommendations to raise the output accuracy.
4. Transparency
To foster mutual respect and understanding among stakeholders, ethical AI must be transparent. It entails clearly and understandably revealing details regarding AI systems, such as their goals, data sources, algorithms, and decision-making procedures. Users may evaluate AI systems’ dependability, understand how they work, and foresee any biases or limitations thanks to transparent AI design. Furthermore, open documentation promotes accountability by permitting outside examination and verification of the actions and results of AI systems. Ethical AI frameworks support openness in data gathering, use, and sharing procedures, enabling people to make knowledgeable decisions about their personal information. Transparent communication of AI’s capabilities and limitations also aids in controlling expectations and preventing misuse or over-reliance.
Transparency is further improved by routine reporting and disclosure of AI performance indicators and effects, enabling constant development and adherence to moral standards and cultural norms. In general, openness, accountability, and reliability are encouraged by transparency in the creation and application of AI technologies. To protect people’s rights in the era of artificial intelligence, the General Data Protection Regulation (GDPR) of the European Union contains measures for automated decision-making and profiling.
Due to growing awareness of potential biases and ethical concerns, North America has seen a considerable surge in ethical AI. Policymakers, academics, and tech corporations work together to create frameworks that guarantee AI systems are transparent, accountable, and fair. Research and development expenditures are directed toward improving privacy protections, reducing biases, and encouraging the responsible application of AI. The goals of programs like AI ethics boards and regulatory guidelines are to promote public confidence and set industry standards. This expansion is a result of a concerted effort across North America to maintain ethical standards while utilizing AI’s promise.
Figure 1: AI Adoption Rate Around the World
Source: IBM
5. Diversity, non-discrimination, and bias mitigation
AI programs should interact with a wide range of users to prevent inadvertent bias. If AI is allowed to run amok, it may result in bias or marginalization of some populations. Because not all groups are represented in the development of AI and because not all groups may use AI in the same way or to the same extent, bias might be challenging to eradicate. One crucial first step in reducing discrimination is to encourage inclusion and guarantee that everyone has access to it. Throughout the development and deployment phases, bias can be further mitigated by ongoing evaluations and modifications. Data publication can also encourage the use of impartial AI. It has also been demonstrated that utilizing a variety of data sets reduces the likelihood of bias.
Industry titans including Block, Canva, Carlyle, The Estée Lauder Companies, PwC, and Zapier are already utilizing Open AI’s ChatGPT Enterprise, which was introduced a few months ago, to completely transform the way their businesses run. Introducing ChatGPT Team as a new self-serve option today. Access to sophisticated models, such as GPT-4 and DALL·E 3, and tools, such as Advanced Data Analysis, is provided by the chatGPT Team. It also comes with admin tools to manage a team and a specific collaborative workspace. One can own and control business data, just like with ChatGPT Enterprise.
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