The healthcare sector undergoes continuous transformation, with ongoing advancements in technology and innovation aimed at optimizing and automating cumbersome processes to enhance the efficiency of care delivery. As the industry expands, novel trends come to the forefront, and seizing the opportunities presented by these trends ahead of competitors can be a strategic advantage, contributing to sustained success. Healthcare organizations are actively embracing emerging technologies like AI, IoT, and nanomedicine, seeking innovative solutions to stay ahead in the competitive landscape. The integration of new software not only automates various tasks but also plays a pivotal role in enhancing customer satisfaction.
The top 10 technologies are:
- Generative AI
- Cloud Computing
- Solutions for Mental Health
- Virtual Reality
- Virtual Care and Telemedicine
- Smart Wearable Devices
- Nanomedicines
- 3D Bioprinting
- Big Data in Healthcare
- Internet of Medical Things (IoMT)
Let’s discuss each one in detail.
1. Generative Artificial Intelligence
The healthcare sector is undergoing a significant transformation with the integration of artificial intelligence (AI). AI algorithms play a crucial role in assisting healthcare professionals in analyzing patient data and medical literature, providing valuable insights for well-informed decision-making. Within the realm of AI, Generative AI stands out as it can produce authentic content, including text and images, without explicit programming. Its capability to learn from existing data patterns and generate novel outputs positions it as a prominent trend that is expected to drive automation to unprecedented levels in the upcoming years. According to data from NASSCOM, there are approximately 416,000 professionals employed in the field of AI in India. The sector is anticipated to experience a growth rate ranging between 20-25%. Moreover, it is projected that AI will make an additional contribution of USD 957 billion to India’s economy by the year 2035. In India’s landscape of AI startups, 23 percent are focused on delivering solutions across various industries. Additionally, 15 percent operate within the e-commerce sector, 12 percent in healthcare, 11 percent in education, and 10 percent in financial services. The remaining startups are distributed among fields such as retail and logistics.
Figure 2: Percentage Division of AI Startups in India

Source: Economic Diplomacy Division
2. Cloud Computing
Cloud computing plays a pivotal role in revolutionizing the operational landscape of healthcare organizations by eliminating the necessity for extensive on-site infrastructure. This not only simplifies the technological requirements but also results in a substantial reduction in capital expenses for these entities. The adoption of a pay-as-you-go model in cloud services introduces a high degree of flexibility. This flexibility empowers medical facilities to strategically manage their budget by paying exclusively for the specific functionalities and services they actively utilize. In essence, cloud computing not only streamlines the IT infrastructure for healthcare organizations but also introduces a cost-efficient approach that aligns financial outlays with actual usage, promoting optimal resource allocation and financial sustainability.
On March 28, 2023, Fujitsu announced the introduction of a new cloud-based platform designed to securely collect and utilize health-related data, facilitating digital transformation within the medical field. This launch marked a significant step in Fujitsu’s ongoing commitment to contribute to the establishment of a healthy society as part of its vision for “Healthy Living” under Fujitsu Uvance for creating a sustainable world. Starting March 28, 2023, Fujitsu made the platform available to medical institutions and pharmaceutical companies in Japan. The innovative platform automates the conversion of medical data from electronic medical records in medical institutions to comply with the next-generation standards framework and ensures the secure aggregation of health-related data. With patient consent, individuals can securely store personal health information, including vital data, step counts, and calorie consumption, all converted into non-personally identifiable information on the platform. This, in turn, assists medical institutions and pharmaceutical companies in conducting data analysis and R&D activities, accelerating the advancement of individualized healthcare and the exploration of new drugs.
3. Solutions for Mental Health
The accessibility of mental health support has undergone a notable transformation, now available on various electronic devices, representing a significant departure from previous decades. Striking a balance between the quality of care within the convergence of clinical science and technological entrepreneurship poses an ongoing challenge. However, recent advancements, particularly in the realm of AI and robotics, hold promising solutions to address this challenge.
As of June 15, 2020, Akili made a groundbreaking announcement regarding the U.S. Food and Drug Administration (FDA) granting clearance for EndeavorRx™ (AKL-T01) as a prescribed treatment for children diagnosed with attention-deficit/hyperactivity disorder (ADHD). Delivered through an engaging video game experience, EndeavorRx is specifically designed to enhance attention function, as evaluated through computer-based testing. This prescription treatment is targeted at children between the ages of 8 and 12 who exhibit primarily inattentive or combined-type ADHD and have demonstrated attention-related challenges. The integration of innovative technologies, such as the captivating video game format, underscores a pioneering approach in leveraging technology for mental health support, particularly in the context of ADHD in children. This development signifies a significant step forward in the intersection of healthcare, technology, and mental health treatment.
4. Virtual Reality
A prominent trend gaining substantial traction within the pharmaceutical industry involves the utilization of cutting-edge technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). These innovative technologies are proving to be instrumental in enhancing both patient recovery times and the overall management of hospitals. By leveraging these immersive technologies, medical professionals can create computer-generated environments that simulate specific situations or experiences of interest. This is accomplished through the use of VR headsets, providing a transformative tool for healthcare practitioners to immerse themselves in virtual scenarios relevant to patient care, medical training, and hospital administration. The application of VR, AR, and MR is opening new avenues for improved healthcare delivery and is poised to play a pivotal role in shaping the future landscape of the pharmaceutical and medical sectors.
In May 2022, MediSim VR inaugurated the inaugural fully automated VR simulation lab at the Puducherry Institute of Medical Sciences (PIMS), marking a pioneering initiative. This state-of-the-art facility aims to augment conventional training methods by providing institutions with AI-powered competency assessment tools, facilitating a comprehensive understanding of student performance and avenues for improvement. Leveraging the synergy of Virtual Reality (VR) and simulation technology, MediSim VR offers an immersive learning experience, catering to healthcare professionals across the board. Their patented technology encompasses Skill Training, Virtual Patients, and Situational Training modules, fostering the development of essential skills crucial for patient care. Notably, through ongoing research in Haptics, MediSim VR has earned the distinction of being the first Indian company to become a resident company at Johnson & Johnson Innovation Labs in Boston.
5. Virtual care and Telemedicine
The provision of virtual healthcare services, including telemedicine software and remote patient monitoring, offers numerous advantages for both patients and physicians. The popularity of virtual care has surged as it provides cost-effective and efficient healthcare in flexible settings. Factors such as reimbursement initiatives and regulatory measures contribute to this trend. In the evolving landscape of healthcare, mobility plays a pivotal role in shaping expectations for accessing goods and services, including medical care. Patients increasingly seek similar accessibility to healthcare as they do for other aspects of their daily lives. Despite some providers being slow to embrace this trend, the mainstream adoption of connected devices and on-demand care appears inevitable. Virtual ultrasound collaboration exemplifies the expanded reach of specialized care, allowing doctors to remotely communicate with their team and patients across various locations. This virtual collaboration enhances provider availability, ensuring a more consistent delivery of care across different facilities.
In March 2023, Philips introduced Philips Virtual Care Management, a comprehensive portfolio of flexible solutions and services aimed at fostering more meaningful connections between health systems, providers, payers, and employer groups and their patients. This initiative is designed to alleviate pressure on hospital staff by reducing emergency department visits and managing chronic diseases more effectively, ultimately lowering the overall cost of care. Similarly, in May 2022, CVS Health launched CVS Health Virtual Primary Care, a digital platform offering a new virtual care solution. This initiative integrates CVS Health’s services, clinical expertise, and data to create a more coordinated and consumer-centric healthcare experience. By enabling consumers to choose care at their convenience, whether in retail or community-based settings, through at-home health services, or virtually, CVS Health is advancing its strategy to enhance primary care and provide a more accessible and flexible healthcare experience.
6. Smart Wearable Devices
The distinction between consumer health wearables and medical devices is becoming increasingly blurred, and the demand for wearable devices such as Fitbits is surging, particularly in the realm of mobile devices. Wearable devices play a crucial role in the medical industry, enabling continuous monitoring of vital signs and health metrics. These devices offer real-time data to healthcare providers, facilitating remote tracking of patient health and timely interventions. Furthermore, wearables encourage proactive health management, empowering individuals to monitor their well-being and adopt healthier lifestyles. On January 24, 2023, Titan launched its latest smartwatch, Titan Talk S, designed to efficiently meet the evolving needs of consumers. This smartwatch combines lifestyle and technology, allowing users to monitor parameters such as breathing rate, SpO2, blood pressure, sleep, and women’s health. Packed with features like camera control, voice recorder, calculator, activity tracker, weather information, and sports trackers, the smartwatch serves as an everyday companion from day to night. With additional features such as hydration and sedentary alerts, a 5-day battery life under standard conditions, phone finder, alarm, stopwatch, and timer, Titan Talk S effectively assists in managing hectic schedules within the daily hustle.
7. Nanomedicine
Nanomedicine utilizes technologies operating at the nanoscale to employ nano-enabled techniques in various aspects of healthcare, encompassing disease prevention, diagnosis, monitoring, and treatment. The applications of nanotechnology in this field are diverse and encompass a wide range of functionalities. These include, but are not limited to, advancements in medical imaging, the development of diagnostic kits, the creation of biological sensors, gene activation techniques, and surface sterilization for medical devices. The integration of nanotechnology into medicine opens up innovative possibilities for enhancing precision, efficacy, and specificity in various medical procedures, showcasing its potential to revolutionize the landscape of healthcare. The ability to manipulate materials at the nanoscale provides a unique toolbox for creating novel solutions and addressing challenges in medical science, ultimately contributing to advancements in patient care and treatment methodologies.
In January 2022, Pfizer engaged in a collaborative agreement with Acuitas Therapeutics to leverage their expertise in the realm of Lipid Nanoparticle Delivery Systems. This collaboration aimed to integrate Acuitas Therapeutics’ advanced delivery system into Pfizer’s mRNA vaccines and therapeutics. The utilization of lipid nanoparticles represents a cutting-edge approach in enhancing the delivery efficiency of mRNA-based treatments, contributing to the advancement of innovative vaccines and therapeutic solutions. This partnership underscores the industry’s commitment to exploring novel technologies to improve the effectiveness and applicability of mRNA-based medical interventions, with potential implications for a range of diseases and conditions.
8. 3D Bioprinting
While 3D bioprinting has been a known technology in healthcare, its recent advancements in creating natural tissue-like, three-dimensional structures have captured the attention of scientists and researchers. The field is experiencing significant growth with the emergence of sophisticated prosthetics treatments and improved technologies, promising a future where it becomes more widely adopted. This advancement not only addresses the hefty costs associated with implants and prosthetic treatments but also opens up diverse options for patients, particularly in the realm of cardiovascular and neurological implants. Moreover, 3D bioprinting is poised to enhance bionic prostheses for knees and hips, offering more personalized and efficient solutions. Currently, the technology is actively developing human organ and tissue structures for research purposes, with the potential to integrate these structures with biocompatible microfluidics, constructing intricate models that replicate the natural functions of human organs.
In June 2023, Schaeffler Special Machinery is set to showcase cutting-edge multi-material 3D printing systems at Automatica. This innovative solution is designed to empower customers by enabling the utilization of inventive material combinations, integrating new functionalities into components and tools, and offering enhanced flexibility in product and tool design. As part of its display of production concepts in the medical sector, Schaeffler Special Machinery will unveil a solution at Automatica that facilitates the adaptable assembly of X-ray tubes, catering to the production of six different variants. Additionally, within the realm of e-mobility, the fully affiliated Schaeffler subsidiary will present a range of solutions, including a system for manufacturing integrated electric axle systems comprising an electric motor, transmission, and a power electronics unit.
9. Big Data in Healthcare
In the realm of healthcare technology, big data plays a crucial role, particularly within the electronic health records (EHR) and electronic medical records (EMR) industry. The integration of big data with medical apps generates extensive datasets, fostering advanced analytics, data-driven decision-making, and the delivery of personalized patient care. The introduction of 5G technology, characterized by high data outputs, increased data speeds, and enhanced device interactions, has significantly bolstered automation tools, thereby improved office efficiency and boosting employee productivity. Looking forward, the anticipation of 6G in the coming years holds promises of even further advancements in data connectivity. Big data analytics emerges as a transformative force in healthcare, revolutionizing telehealth, reducing diagnostic costs, and refining treatment analysis. The utilization of data mining and analysis tools within big data contributes significantly to the treatment of rare diseases, leading to advancements in patient care and healthcare practices as a whole.
With a population of approximately 1.3 billion, Big Data assumes a significant role in the Indian context. According to a study conducted by NASSCOM, it is projected that the Indian analytics industry will reach the $16 billion milestone by the year 2025.
A 2022 paper released by PubMed Central delves into the incorporation of Big Data Analytics (BDA) in healthcare, emphasizing its potential to introduce new technologies in both patient treatment and health management. The paper aims to explore the opportunities presented by the integration of Big Data Analytics in the healthcare sector, drawing insights from a critical analysis of existing literature and presenting select findings from direct research on the application of Big Data Analytics in medical facilities.
10. Internet of Medical Things (IoMT)
The Internet of Medical Things (IoMT) encompasses a collection of internet-connected medical devices, including both hardware and software technologies, that are linked through the internet. The integration of a multitude of medical devices with the internet facilitates the seamless transmission and storage of vast amounts of data. This influx of data, when analyzed, holds the potential to enable the early diagnosis of chronic or emergency medical conditions. Beyond data transmission, the IoMT opens up avenues for innovative applications, such as the deployment of smart robot nurses. Notably, Italian hospitals have already embraced this technology during the COVID-19 emergencies, utilizing smart robots to monitor patients’ blood pressure and SpO2 levels. The IoMT stands as a transformative force in healthcare, offering enhanced connectivity, data-driven insights, and the prospect of advanced technologies contributing to improved patient care and health outcomes. Conceived by two female robotics experts, Moxi stands as the inaugural robot in active use that employs artificial intelligence, constantly adjusting to shifts in hospital workflows through learning from its human interactions. Sporting a mechanical arm, a gripping hand, and the capability to carry up to 70 pounds, Moxi possesses mobility that allows it to traverse hospital corridors and elevators, facilitating deliveries to nurses and other staff members.
Unveiling the Top 10 IOT Technologies
Thought ArticlesThe Internet of Things (IoT) is a network of interconnected devices, objects, and systems that are equipped with sensors, software, and network connectivity, allowing them to collect and share data. These technologies have transformed various industries and provided numerous benefits. IoT technology improves efficiency and productivity by automating tasks, streamlining processes, and providing real-time data. The seamless connectivity and data exchange enabled by IoT technologies have enormous potential for transforming industries, improving decision-making, and improving the quality of life for individuals and communities. Join us as we explore the “Top 10 IOT Technologies ” in this article that have changed industries and provided many advantages.
Top 10 IOT Technologies
Let’s discuss each one in detail
1. Edge Computing
Edge computing refers to the practice of processing data at the network’s edge, closer to the source of data generation, rather than relying entirely on cloud-based servers. This distributed system is critical to enabling the Internet of Things (IoT) as it allows for quick analysis and response directly at edge devices, eliminating the need to transmit large amounts of data to remote servers for processing. The technology has applications in a variety of fields, including smart cities, manufacturing, healthcare, and transportation, and by utilizing the power of edge Computing, IoT devices can perform real-time data. In January 2024, IBM announced a new collaboration with American Tower, a global digital infrastructure provider, to accelerate the implementation of a hybrid, multi-cloud computing platform at the edge. Through this collaboration, American Tower intends to broaden its neutral-host Access Edge Data Center ecosystem by incorporating IBM Hybrid Cloud capabilities and Red Hat OpenShift.
2. Artificial Intelligence (AI) and Machine Learning
Artificial intelligence (AI) and machine learning (ML) are revolutionary technologies that have had a significant impact on a variety of industries, including the Internet of Things. AI refers to the simulation of human intelligence in machines, which allows them to replicate and perform tasks that would normally require human intelligence. Machine learning (ML) is a subset of artificial intelligence that focuses on algorithms and statistical models to allow systems to learn and improve from experience without explicit programming. When combined with IoT, these technologies create a powerful framework for exchanging and analyzing massive amounts of data collected from connected devices.
The United States and China are the two countries where AI and machine learning technologies are rapidly expanding owing to the favorable investments in such projects. For instance, in October 2023, The US National Science Foundation invested $10.9 million in the development of protected artificial intelligence technologies. Additionally, according to the United States Census Bureau, 3.8% of businesses in the United States use AI to produce goods and services.
3. Extended Reality (XR)
Extended Reality (XR) is an immersive technology that combines virtual reality (VR), augmented reality (AR), and mixed reality (MR) to create a more engaging and interactive digital experience. It enables users to interact with a synthetic environment that combines physical and virtual elements. The advantages of Extended Reality (XR) are numerous, ranging from transforming industries such as gaming, education, healthcare, and architecture to improving training simulations. It provides an unprecedented level of immersion, interactivity, and visualization, creating new opportunities for creativity, communication, and problem-solving.
Europe is experiencing significant growth in the XR in major economies such as Germany, the United Kingdom, and France due to several investments. For instance, in June 2023, the European Commission announced its investment of $10 billion in critical technologies, including virtual reality, through its Strategic Technologies for Europe Platform (STEP). Additionally, in July 2023, The European Commission announced a strategy, “An EU initiative on Web 4.0 and virtual worlds: a head starts in the next technological transition,” to align XR technologies such as VR and AR with the European virtual world.
4. Robotic Process Automation (RPA)
Robotic Process Automation (RPA) allows businesses to automate repetitive and rule-based tasks using software robots or bots. These bots simulate human interactions with various digital systems and applications, performing tasks such as data entry, extraction, and validation. RPA technology is intended to streamline and optimize business processes, increase productivity, and reduce human error. It enables businesses to automate time-consuming and routine duties, freeing up human employees to focus on more valuable activities. Robotic Process Automation can be used in a variety of industries and sectors, resulting in significant cost savings, increased efficiency, and higher accuracy in repetitive tasks.
North America is experiencing significant growth in RPA due to the presence of several industry leaders and numerous collaborations. For instance, in March 2021, Amentum, a leading contractor to the United States federal and allied governments, announced a new collaboration with UiPath, a leading enterprise RPA software company. Under the terms of the new agreement, the companies collaborated to bring the benefits of automation, which are already being used by many federal agencies, to mission-critical customers in Amentum’s portfolio of national significance programs.
5. 5G Technology
5G technology is the fifth generation of wireless communication and represents a significant advancement in terms of speed, capacity, and connectivity. It provides seamless connectivity between devices, resulting in faster data transfer rates and lower latency. With speeds up to 100 times faster than 4G, 5G enables a diverse range of innovative applications and services. 5G applications span a wide range of industries, including autonomous vehicles, the Internet of Things (IoT), virtual reality (VR), augmented reality (AR), and robotics.
Figure 1: IOT Connections, in Billions, From 2018 to 2025
Source: GSMA Intelligence
Asia Pacific is growing significantly in 5G technology, which is fuelling the growing number of IoT devices in the region. With its dense population and emerging markets, Asia Pacific has emerged as an area of IoT innovation and adoption. The deployment of 5G networks has created new opportunities for connectivity and significantly increased the number of IoT devices.
Figure 2: IOT Devices in APAC Region, in Billions, From 2022 to 2027
Source: OMDIA
6. Blockchain Technology
Blockchain technology is a revolutionary concept that is essentially a distributed ledger system that records and verifies transactions on multiple computers. One of its key characteristics is transparency, as users can easily track and verify any transaction conducted on the blockchain. The technology is used in a variety of industries, including finance, supply chain management, and healthcare. It facilitates secure and unbreakable transactions, eliminates the need for intermediaries, and improves data privacy. Additionally, blockchain has the potential to disrupt traditional industries by offering low-cost, high-efficiency solutions.
India and Japan are at the leading edge of Blockchain Technology due to several government initiatives. For instance, in April 2022, Fujitsu and IHI started a joint project on a new environmental value distribution platform utilizing blockchain technology. Additionally, in December 2021, The Minister of State for Electronics and Information Technology released the National Strategy on Blockchain, which ensures security and privacy while allowing only trusted organizations with privileges to record and access details in an accountable manner.
7. IoT in farming
The Internet of Things (IoT) in farming is a revolutionary technology that is reshaping the agricultural sector. Farmers can use IoT devices and sensors to remotely monitor and manage their farms, increasing efficiency and productivity. These devices collect real-time data on soil moisture levels, temperature, humidity, and crop health, giving farmers valuable information about their fields’ conditions. The advantages of IoT in farming are numerous, as it enables precise and targeted application of water, fertilizers, and pesticides, reducing waste and ensuring maximum crop yield.
Asia Pacific is growing significantly in IOT in Farming in major economies in the region such as India and China. According to the Press Information Bureau, the Department of Science and Technology (DST) implemented the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). Under the Mission, 25 Technology Innovation Hubs (TIHs) have been established at premier institutes of national importance across the country in advanced technology verticals, and three of these TIHs are involved in the use of IoT and AI in agriculture.
8. IoT in Emergency Management
The Internet of Things (IoT) revolutionized many industries, including emergency management. In emergency management, the IoT signifies the use of interconnected devices and sensors to improve response and rescue operations in critical situations, and by combining sensors, cameras, wearable devices, and drones, emergency responders can collect real-time data and make informed decisions quickly. The advantages of implementing IoT in emergency management are significant as it allows for early detection and prediction of natural disasters, improves situational awareness, optimizes resource allocation, and promotes timely communication between responders and affected individuals. Additionally, IoT devices also help with post-disaster recovery by monitoring infrastructure health and tracking survivors. North America is experiencing significant growth in the implementation of IOT in Emergency Management due to the advanced technologies and infrastructure.
9. Smart City
The integration of Internet of Things (IoT) technology into smart cities drastically altered urban landscapes around the world. In an IoT-powered smart city, multiple devices and systems are interconnected and communicate with one another, resulting in increased efficiency, sustainability, and quality of life for residents. The advantages of IoT in smart cities are numerous as it allows for real-time monitoring and efficient management of utilities that include energy, water, and waste management. Smart transportation systems improve traffic flow and reduce congestion, while smart buildings promote energy efficiency and sustainable living.
North America is projected to grow significantly in IoT smart cities due to highly advanced technological infrastructure with extensive internet connectivity and effective communication networks in major countries of the region, such as the US and Canada, which facilitates the seamless integration of IoT devices and systems within smart cities.
10. Smart Devices
IoT smart devices include sensors, software, and connectivity capabilities that allow them to collect and exchange data over the internet. These devices are linked together via the internet and provide numerous benefits, including smart home appliances and wearable gadgets, as well as industrial sensors and healthcare monitors. One of the primary benefits of IoT smart devices is convenience as IoT allows one to control and monitor various devices remotely from a smartphone or other smart devices. It enables users to effectively manage their homes and offices. IoT devices provide valuable data insights, allowing businesses to make informed decisions, improve productivity, and optimize processes.
China and Japan emerged as a significant growing region of IoT Smart Devices due to the implementation of the Internet of Things in numerous sectors to increase automation. For instance, in March 2022, Firedome announced its partnership with Hitachi Solutions to advance IoT Security in Japan. Additionally, in June 2023, ABB and China Telecom launched a joint digitalization and industrial IoT laboratory in Hangzhou, China, and the collaboration between ABB Measurement & Analytics China Technology Center and China Telecom’s Internet of Things subsidiary, E Surfing IoT focuses on creating end-to-end industrial IoT solutions for Chinese manufacturers.
Agricultural Tractor Market is anticipated to grow at a CAGR of 5.13% to reach US$27,877.434 million by 2028
Press ReleasesThe agricultural tractor market was valued at US$19,641.678 million in 2021 and is anticipated to grow at a CAGR of 5.13% over the forecasted period to reach a market size of US$27,877.434 million in 2028.
The market for agricultural tractor market is significantly impacted favourably by precision farming and the expanding usage of agricultural technology to boost output.
As per the report, the global agricultural tractor market is expected to grow at a significant pace.
The agricultural tractor market is at the vanguard of modern farming evolution, playing a critical role in increasing agricultural efficiency and production globally. Tractors have become vital assets for farmers, transforming conventional farming techniques via mechanization. This dynamic industry is marked by ongoing technical breakthroughs, with a broad selection of tractors designed to fulfil the changing demands of the agricultural sector. As global food demand rises, the agricultural tractor market is expected to develop steadily, fueled by factors such as increased farm mechanization, precision agriculture methods, and the quest for sustainable and resource-efficient farming solutions. The interaction of innovation, environmental concerns, and the pursuit of peak performance characterizes the landscape of this critical industry, which shapes the future of contemporary agriculture.
The market is witnessing multiple collaborations and technological advancements, for instance, In August 2023, Mahindra introduced seven new variants of their lightweight 4WD tractor, the “Mahindra OJA”. The new launch is part of the company’s efforts to improve Indian farming.
The agricultural tractor market has been categorized based on engine power, type, vehicle type, mode of operation and geography.
Based on engine power the global agricultural tractor market is divided into less than 40 HP, 41 to 100 HP and more than 100 HP. The worldwide agricultural tractor industry is expected to undergo a substantial transition in the future years, with 41 to 100-horsepower tractors emerging as the dominant category. This mid-range power category is predicted to expand rapidly because of its adaptability, which caters to a wide range of farming operations. Farmers are increasingly valuing the balance of power and economy provided by tractors ranging from 41 to 100 horsepower, which makes them suited for a variety of agricultural jobs. Furthermore, technological developments and a focus on increasing agricultural productivity are expected to fuel demand for this category, cementing its position as the market leader.
Based on type the global agricultural tractor market is divided into utility tractors, row crop tractors, orchard type, industrial tractors, and other tractors. The worldwide agricultural tractor market is expected to increase significantly in the future years, with utility tractors emerging as the primary market segment. These flexible machines can handle a variety of agricultural duties, giving farmers greater flexibility and efficiency in their farming operations. The growing desire for automation, along with technological improvements and precise farming, is fueling the appeal of utility tractors. Furthermore, their flexibility in various agricultural operations makes them a popular option among farmers worldwide. As agriculture evolves with new technology, utility tractors are expected to maintain their market dominance, contributing considerably to the industry’s expansion.
Based on the vehicle type the global agricultural tractor market is divided into gasoline diesel and electric. The future trajectory of the global agricultural tractor industry indicates a significant movement toward electric tractors emerging as the dominant category. Considering an increased emphasis on sustainability and environmental concerns, the agriculture business is seeing a shift toward electric vehicles. Electric tractors have benefits such as decreased carbon emissions, cheaper operating costs, and increased efficiency. Governments and agricultural stakeholders throughout the world are promoting the use of electric technology, accelerating the spread of electric tractors. While gasoline and diesel-powered tractors continue to play a role, the growing trend toward electrification places electric tractors at the forefront of influencing the future of the agricultural tractor industry.
Based on mode of operation the global agricultural tractor market is divided into manual tractor and autonomous. The worldwide agricultural tractor industry is set to undergo a dramatic transition towards autonomous tractors in the next years, putting them as the main category. The growing use of modern technology, such as GPS-guided systems and artificial intelligence, is boosting demand for autonomous tractors, which improve efficiency and precision in farming operations. Autonomous tractors provide benefits such as decreased worker reliance, better production, and optimized resource usage. As agricultural practices shift towards smart farming, the autonomous tractor segment is likely to expand significantly, altering the landscape of the agricultural machinery industry.
Based on Geography the Asia-Pacific region is expected to become the dominant force in the agricultural tractor market in the next years, thanks to several factors pushing its agricultural sector. Rapid population increase, urbanization, and rising food consumption are driving the need for more efficient and sophisticated farming techniques. Several Asia-Pacific governments are making significant investments in agricultural automation to boost production and assure food security. Furthermore, the region’s varied agroclimatic conditions need adaptable and technologically sophisticated tractors, increasing in demand. The adoption of precision farming techniques and the inclusion of smart technologies enhance the attractiveness of the Asia-Pacific agricultural tractor market, positioning it as a key participant in the worldwide agricultural machinery industry.
As a part of the report, the major players operating in the global agricultural tractor market, that have been covered are Mahindra & Mahindra Limited, Deere & Company, Tractors and Farm Equipment Limited, CNH Industrial N.V., Kubota Corporation, AGCO Corporation, Force Motors, Standard Corporation India Limited, Sonalika Group.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/agricultural-tractor-market
This analytics report segments the global agricultural tractor market on the following basis:
Optical Transport Network Market will be worth US$90.538 billion by 2028
Press ReleasesThe global optical transport network market is expected to grow at a CAGR of 18.14% during the forecasted period, with a market valuation of US$28.193 billion in 2021 and expected to reach US$90.538 billion by 2028.
The market for the optical transport network is significantly impacted by the increase in demand from the IT and Telecom sectors.
As per the report, the market for optical transport networks is expected to witness significant growth during the forecasted period.
Optical Transport Network (OTN) is a telecommunications industry-standard protocol that provides an efficient way to transport, switch, and multiplex different services into high-capacity wavelengths across the optical networks and is commonly used by network providers that rely on OTN-enable technology for their optical networks. This range of benefits from the use of OTNs include increased resiliency, enhanced Service-Level Agreements (SLA), extended reach with Forward Error Correction (FEC), simplified operations, and the ability to efficiently maximize wavelength fill as well as end-to-end service delivery.
One of the key players in the growth of the industry is the growth of demand in the IT and telecom industries. The reason for the growth in demand is due to the increase in digital traffic due to the growing advancements of IoT, cloud computing and machine-to-machine communications. Furthermore, the increase in demand for fast and reliable services, which include high bandwidth applications across various government and financial sectors will drive the growth of the market during the forecast period. Another factor that propels the growth is the increase in home internet consumption, which can be linked to several factors such as the increase in demand for cloud storage for personal data, online gaming and shopping, communication between long distances, social networking, and many others. As per CloudScene, an independent database of high-speed internet, data centres and cloud services, there had been 5,386 data centres in the United States and 522 more in Germany. The United Kingdom has been ranked third among all countries with their services, with 517 data centres. As new data centres are expected to rise with the development of technologies, they have currently 8.5k data centres operational worldwide. The increase in demand will be expected to propel the growth of e-commerce, mobile and internet banking, online government services, IoT, industrial automation, utility networking, and other related technologies, which will further assist in the growth of the global optical transport network market in the forecast period.
The market growth is further propelled by the several product launches and developments taking place during the forecast period. For instance, on May 2023, NEC Corporation and their ecosystem partners A10 Networks, Adtran (formerly ADVA), Fortinet and Juniper Networks, announced the launch of the Value Added xHaul Solution Suite that helps in the acceleration of monetisation of operators’ transport networks in the 5G era. This suite enables traditional IP and optical transport networking to provide additional value with enhanced capabilities, which include network security, data centre networks, and automation for maximum operators’ profitability.
The global optical transport network market is categorised based on technology, end-user, and geography.
Based on technology, the optical transport network market is categorized into three types, which include converged packet optical transport systems, DWDM, and WDM. Packet optical transport systems are known to offer world-class transport and a foundation for transformation to a more profitable software-defined network.
Based on end-users, the optical transport network market is categorized into three types, which include communication service provider (CSP), internet content provider (ICP), and others. Communication service providers (CSPs) are known to offer telecommunication services, which include some combination of information and media services, content, application, and entertainment services, over networks, leveraging the network infrastructure as a functional and rich platform. An Internet content provider is a website or organization that manages and distributes online content, which includes videos, blogs, music, and files of any kind.
Based on the geography, the North American region is expected to witness significant growth in the optical transport network market during the forecasted period. The factor that affects the market is the government support and initiatives as well as the increase in demand for communication devices and faster network connectivity. For instance, as of July 2023, the Biden-Harris Administration announced over US$40 billion for connecting everyone in America with affordable, reliable and high-speed internet, enabling participation equally in schools, access to healthcare, and connectivity between family and friends. The awards range from US$27 million to US$3.3 billion, with a minimum of each state receiving US$107 million in the United States. Such government investments will help provide the necessary fuel for the growth of the market during the forecast period, due to the dependency of OTNs on network connectivity and the internet.
The research includes several key players from the optical transport network market, such as Fujitsu Network Communications Inc, ADVA Optical Networking, ECI TELECOM, Infinera Corporation, NEC Corporation, Huawei Technologies Co., Ltd., ZTE Corporation, Ciena Corporation, Padtec, and Avencom.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-optical-transport-network-market
The analytics report categorizes the optical transport network market using the following criteria:
Segmentation:
Technological Advancements and Rising Chronic Incidences Propel the Medical Devices Market
Thought ArticlesTop emerging medical devices that revolutionize the healthcare industry
Medical devices play a crucial role in the modern healthcare industry, providing a wide range of features which include diagnosis, treatment, and management of various medical conditions with high accuracy and efficiency. The types of medical devices include wearables, medical robots, telemedicine, immersive technologies, 3D printing, smart bandages, artificial intelligence, cybersecurity and minimally invasive devices. These types of devices help doctors and healthcare facilities monitor and manage the health conditions of the patients through recommendations and procedures needed to be followed by the patient or the doctor on the patient.
ECG/EKG Machines
Electrocardiogram (ECG/EKG) machines are devices that record the electrical activity of the heart and are displayed on a monitor. This type of machine helps in the diagnosis of heart conditions, which include abnormal heart rhythms and coronary heart diseases. The ECG machine functions by placing electrodes on the chest of the patient to record the heart’s electrical signals. These signals are displayed as waves on a computer monitor or printer, which measures, interprets and prints out the heart’s electrical activity.
An electrocardiogram machine is commonly used in healthcare providers’ offices, clinics, or hospital rooms. This type of equipment is standard equipment used in operating rooms and ambulances, useful for monitoring the condition of critical-case conditions and emergency treatments. ECG monitoring is also known to be included in personal devices, which include smartwatches.
One of the major growth drivers for the increase in demand for ECG machines is the increasing prevalence of cardiovascular diseases worldwide. As per the British Heart Foundation, global heart and circulatory diseases account for 620 million people as of 2021. The diseases include coronary heart disease, stroke, COPD, lung cancer, and lower respiratory infections. The use of ECG machines helps in the monitoring and analysis of the heart and body condition of the patient, which helps doctors create solutions that will help in the improvement of the condition of the patient’s heart and body. Due to the high prevalence of heart diseases in the Asia Pacific region, the growth of the ECG market in the region is expected to witness significant growth.
Figure 1: Prevalence of Heart & Circulatory Diseases Worldwide, In Millions, 2021
Source: British Heart Foundation
Key Development
September 2023: iRhythm announced the launch of their next-generation Zio monitor and enhanced Zio (LTCM) service., which are long-term ambulatory cardiac monitoring devices. Zio monitor builds on the high performance of the Zio XT, which combined with the enhanced Zio long-term continuous cardiac monitoring services provides an elevated end-to-to experience. This product’s physical characteristics are deemed the smallest, thinnest and lightest cardiac monitor, which provides an enhanced cardiac monitoring experience for patients and healthcare providers together with new service enhancements.
CT Scanner
The Computerized Tomography (CT) scanner is a device that combines a series of X-ray images taken from different angles around the patient’s body to create cross-sectional images of the bones, blood vessels and soft tissues inside the body, The scans acquired from the machines helps in the creation of solutions that will help improve the condition of the musculoskeletal structure of the body. The CT scan has a variety of functions, which include the examination of people with internal injuries from car accidents and other types of traumas, people with musculoskeletal conditions, and many others. It is known to visualize nearly all parts of the body and is used for diagnosing diseases or injuries as well as to plan medical, surgical and radiation treatment.
The various applications of CT scans include diagnosis of muscle and bone disorders such as tumours and fractures, pinpointing the location of the tumour, infection or blood clots, guiding in procedures such as surgery, biopsy, and radiation therapy, monitoring of diseases and conditions such as cancer, heart disease, lung masses, and lung nodules, monitoring the effectiveness of treatment procedure, which include cancer treatment, and to detect the internal injuries and internal bleeding in the body.
One of the major factors that led to the growth of the CT Scanner market is the increase in musculoskeletal conditions worldwide. As per the World Health Organization, an estimated 1.71 billion people worldwide have musculoskeletal conditions, among which low back pain is the leading cause of disability in 160 countries. Musculoskeletal conditions are known to reduce the mobility and dexterity of a person, leading to early retirement from work due to low levels of well-being and reduced ability to participate in society. Another factor that leads to the increase in musculoskeletal conditions worldwide is the increase in the ageing population worldwide. As per the Population Reference Bureau, China, India and the United States account for the highest number of older adults, accounting for 166.37, 84.9, and 52.76 million people respectively. The increasing prevalence of musculoskeletal conditions, commonly arising due to old age, will propel the growth of the CT scanner market.
Figure 2: Aged Population In China, India, The United States, Japan, Russian Federation, Millions,2019
Source: Population Reference Bureau
Key Developments
November 2023: Siemens Healthineers announced the launch of their new Dual Source CT Scanner, which expanded the clinical reach of their signature Dual Source technology. The technology is accessible for small and rural facilities as well as outpatient diagnostic centres. This technology offers lower costs when compared to other Dual Source systems, due to the improved cooling system and efficient power consumption. It also consists of myExam Companion and 3D camera simplifying scanner operations while personalizing scanning for each patient. The myExam companion combines data such as gender, height, and age and collects information that is relevant to CT scans such as heart rate or breath-hold capabilities.
April 2022: Wipro GE Healthcare, a global leader in medical technology and digital solution innovations, announced the launch of their next-generation Revolution Aspire CT scanner. The Revolution Aspire offers advanced imaging that is designed and manufactured end-to-end in India at the Wipro GE Medical Devices Manufacturing plant, also in line with the ‘Atmanirbhar Bharat’ initiative. The CT scanner offers higher imaging intelligence that improves clinical confidence during the diagnosis of diseases and anomalies. It also provides increased operational efficiency with an increase of 50% throughput. It also has an increased rotation time of 20% enabling clinicians to improve and increase diagnostics efficiency.
Long-Term Evolution (LTE) market size worth US$194.126 billion by 2028
Press ReleasesThe Long-Term Evolution (LTE) market is expected to grow at a CAGR of 28.14% with a market valuation of US$34.216 billion in 2021 and is expected to reach a market value of US$194.126 billion by 2028.
The market for the long-term evolution (LTE) technology is significantly impacted due to rising data consumption and usage, and mobile subscriptions in the world.
As per the report, the long-term evolution (LTE) market is expected to witness significant growth during the forecasted period.
The increase in demand for LTE networks is driven by the increase in demand for high data usage and is also one of the major growth factors for the growth of the global long-term evolution (LTE) market. The increase in mobile phone subscriptions can be coupled with the increase in the demand for downloading and uploading documents and other forms of media onto the internet and is especially booming among the millennial and Gen Z generations, who are major contributors to the growth of demand for faster and better internet connectivity. Another factor that boosts the growth of the market is the need for uninterrupted audio and video streaming without any obstacles coupled with the experience it provides to the user while live streaming.
The increase in data usage can be considered as one of the major growth factors in the long-term evolution (LTE) market. As per the company CISCO Systems Inc, the number of internet users, network-connected devices and mobile users in the Asia Pacific displays significant growth during the forecasted period, with an estimation of 5.3 billion internet users in 2023 (66% of the total world population), which is an increase from 3.9 billion in 2018 (51% of the total world population). This increase in data usage and internet activity will bring forth an increase in growth in the technology of the long-term evolution (LTE) and will propel the LTE market during the forecasted period.
The long-term evolution market has been categorized based on mode, technology, application, end-user devices, and geography.
Based on mode, the long-term evolution (LTE) market is categorized into two types, which include FDD (Frequency Division Duplex), and TDD (Time Division Duplex). FDD is a type of full-duplex method that uses two different frequencies to transmit and receive operations, whereas TDD is a type of communication method that makes use of both the transmitter and receiver in the same frequency but isn’t able to transmit and receive at the same time.
Based on technology, the long-term evolution (LTE) market, is categorized into three types, which include LTE OFDM (Orthogonal Frequency Division Multiplex), LTE MIMO (Multiple Input Multiple Output), and LTE SAE (System Architecture Evolution). These types of technology of the LTE allow for smooth transmission and receiving of media through devices and are different for each type of technology.
Based on application, the long-term evolution (LTE) market is categorized into five types, which include audio/video telephony, live TV, browsing, gaming, and sharing. LTE is commonly used in the transfer of media in the forms of video, audio, images, and many others from one device to another. In the present day and age, computer devices and mobile phones are the main sources of media transfer and access.
Based on end-user devices, the long-term evolution (LTE) market is categorized into three types, which include smartphones, tablets, and laptops. Smartphones contribute to the majority of the growth of the LTE market, due to the increasing production of mobile phones and increasing consumption of the internet through easily accessible devices such as smartphones, and tablets.
Based on geography, the North American region is expected to witness significant growth in the long-term evolution (LTE) market during the forecasted period. The factor that affects the market is the increasing number of internet users and data usage in the region during the forecasted period. As per the reports of the global leader of communications and technology provider CISCO Systems Inc., the Asia Pacific (APAC) region is expected to witness significant growth of internet users, which accounts for an estimated 3.1 billion users in 2023 (73% of the total APAC population), which is an increase from 2.1 billion in 2018 (52% of the total APAC population). It was also shown that the number of mobile users will also be expected to witness a significant increase, with an estimated value of 3.1 billion users in 2023 from 2.7 billion in 2018. The increase in mobile and internet users can have a significant impact on the growth of the long-term evolution (LTE) market during the forecasted period, due to the increase in the population of countries such as India and China propelling the growth of internet users in the Asia Pacific region.
The research includes several key players from the long-term evolution (LTE) market, such as ZTE, Fujitsu, Samsung, Qualcomm, Cisco, Nokia, HUAWEI, Ericsson, Motorola Solutions, Inc., and Juniper Networks.
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The analytics report categorizes the long-term evolution (LTE) market using the following criteria:
Segmentation:
Glycolic Acid – An Effective Skin Treatment
Thought ArticlesThe glycolic acid market was valued at US$332.687 million in 2019 and will increase to US$477.485 million by 2026. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 5.30%.
Glycolic acid is a chemical derived from plants that have been clinically demonstrated to be an excellent skin treatment. This chemical has anti-aging qualities and can be used on sensitive skin without causing irritation. It is frequently utilized as a primary ingredient in a variety of cosmetic products due to these characteristics. It’s made from plants like sugar beets, sugarcane, and pineapple, and it’s great for clearing up acne. The glycolic acid market is segmented by grade, industry, and geography.
During the Projected Period, the Market for Glycolic Acids Is Predicted to Rise Due to a Surge in Demand for Natural Cosmetics and Personal Care Products
The increased popularity of natural personal and cosmetic products is one of the primary drivers of the glycolic acid industry. Glycolic acid has a considerable presence in the worldwide cosmetic business because of its numerous skincare benefits. Glycolic acid contains anti-aging qualities and has been demonstrated to be an excellent skin therapy component. The acid is gentle on delicate skin and effectively combats acne and other skin issues. Furthermore, glycolic acid is biodegradable, free of metoxyacetic acid, and non-flammable, making it a perfect component for the dyeing industry. It is exempt from the volatile organic compound (VOC) category, which aids in its chemical industry expansion. Furthermore, the decline in the market for chemical products as a result of the harmful effects of chemicals on skin and health has aided the rise of the market for natural products, hence raising demand for glycolic acids.
During the Anticipated Period, Cosmetic Grade Glycolic Acid Is Expected to Grow Significantly
Glycolic acid is classified as industrial-grade, cosmetic grade, medical grade, or technical grade depending on the grade type. Because of its widespread use in industries and medical research, industrial and medical-grade glycolic acid is expected to dominate the market. The cosmetic grade glycolic acid, on the other hand, is expected to grow at a high rate. The increased demand for natural cosmetics is the primary factor driving this segment’s expansion. Furthermore, a boost in the use of natural cosmetic and skincare products has resulted from a considerable increase in worldwide average disposable income accompanied by an improvement in the level of living, which will promote market growth.
According to L’Oréal figures, the worldwide cosmetic market grew by 5.5 percent in 2019. In 2019, skincare accounted for 40% of the worldwide glycolic acid market share. With the introduction of the e-commerce business, online companies, the expansion of social networks, the increase in per capita disposable income, and consumer interest in various products, the market has grown globally.
Consumption of glycolic acid in hair and nail care products is also a prominent element driving market expansion. Apart from personal care and dermatology, industrial use, which is expected to be one of the fastest-growing applications of glycolic acid, is also a big consumer. The key element driving market demand is the rising need for glycolic acid in boiler cleaning applications in the industrial sector.
Analysts Anticipate That the Production of Formaldehyde Can Act as a Restraint for the Market’s Expansion
Glycolic acid is typically made using one of two methods: carbonylation of formaldehyde or glycolonitrile as a prime material. As a result of each of these techniques, formaldehyde is produced as a byproduct. When exposed internally, formaldehyde is a toxic sensitive toxin that can affect the immune system. Formaldehyde has also been related to the development of cancer in humans. Furthermore, repeated application of this chemical may irritate the eyes and skin. While formaldehyde is a waste product, it has the potential to harm consumers if it is accidentally mixed with glycolic acid. As a result, extracting glycolic acid necessitates extreme caution and cutting-edge equipment, limiting commercial potential.
Any substance with a glycolic acid concentration of more than 10% is classified as dangerous by the US Food and Drug Administration (FDA). Glycolic acid at higher concentrations can cause skin burns. The glycolic acid market is being hampered by a growing awareness of the dangers of utilizing products with high glycolic acid concentrations.
During the Forecast Period, Europe and the Asia Pacific Regions Are Likely to Account For a Considerable Portion of the Global Glycolic Acid Market
The glycolic acid market has been divided into five regions: North America, South America, Europe, the Middle East and Africa, and Asia Pacific. During the forecasted period, the European glycolic market is expected to hold a large proportion. Natural skincare and cosmetics are most popular in Europe. The market’s expansion will be aided by rising demand for them. However, the Asia Pacific area is expected to grow at the fastest rate. In-market possibilities will be boosted by rising disposable income and rising demand for natural products. The burgeoning textile sector will also play a big role in the region’s development. Furthermore, expanding internet penetration and increased customer choice create a significant opportunity for the sector. As a result of increased internet access, the e-commerce sector has grown, as has the creation of new business platforms, bringing stale growth to the market. Increased awareness and a better standard of living are other important factors. Prime markets in the region include India, China, Japan, South Korea, Singapore, and Thailand.
COVID-19 Insights
The coronavirus pandemic had a negative influence on the glycolic acid business. The government’s containment measures resulted in a standstill in economic activity and an increase in global unemployment rates. Because of the loss of a source of income and the uncertainty surrounding the lockdown, people spent more on necessities and less on comfort and luxury items. This resulted in a large decrease in the demand for cosmetics and other items, as well as for glycolic acid. The industry’s activities were further hampered by supply chain disruption.
Glycolic acid is used to make a variety of skincare products. Because the coronavirus attacks the respiratory system, the increased danger of inhaling cosmetic goods may limit their use during the pandemic. However, due to the enforcement of lockdown, the epidemic has resulted in a downturn in the cosmetic sector. Due to labor scarcity and mandatory social separation, cosmetic manufacturers have shut down production units.
Glycolic Acid Market Scope:
Motor Starter Market is anticipated to grow at a CAGR of 6.27% to reach US$8,614.421 million by 2028
Press ReleasesThe motor starter market was valued at US$5,629.130 million in 2021 and is anticipated to grow at a CAGR of 6.27% over the forecasted period to reach a market size of US$8,614.421 million in 2028.
The market for motor starters is significantly impacted favorable by the expansion of the automotive industry and several government initiatives.
As per the report, the market for motor starters is expected to expand during the forecast period.
Motor starters are essential components of motor control systems, which start, stop, and protect electric motors. Its primary function is to regulate the flow of electrical power to the motor, resulting in smooth and reliable motor operation and typically includes components such as contactors, overload relays, control circuits, and protective devices.
The expansion of the automotive manufacturing is a major driving force behind the growth of the motor starter market. For instance, according to the European Automobile Manufacturers’ Association, in 2022, 85.4 million motor vehicles were produced worldwide, an increase of 5.7% from the year 2021 in which Greater China produced a maximum of 27,222,000 units in 2022.
The motor starter market has been categorized based on type, technique, end-users, and geography.
As per the type, the market has been classified into manual starters, magnetic motor starters, rotor resistance starters, direct-on-line starters, and others. The direct-on-line starter is the most widely use type of motor starter as it is simple, affordable, and efficient. A direct-on-line starter connects the motor directly to the power supply, without any intermediate devices or components, and maximizes the motor’s starting torque, which is useful in a variety of applications and accounts for a significant share of the motor starter market.
Based on technique, the market has been classified into full voltage technique, multispeed technique, and bidirectional starter technique. The multispeed technique is widely utilized in motor starters as this technique includes starting the motor at reduced voltage and then gradually increasing it to full voltage. It helps reduce the challenges associated with instant full voltage starting, and by reducing mechanical and electrical stresses, multispeed technique starters can extend the motor’s life and therefore account for a significant portion of the motor starter market.
Based on end-users, the market has been categorized into automotive, electrical & electronics, industrial, manufacturing, mining, and others. Motor starters are widely used in the automotive industry in a variety of vehicles, including cars, trucks, and motorcycles, to ensure the safe and efficient operation of motors while protecting them from damage, they consist of thermal overload relays, which monitor the motor’s current and trip the circuit if it exceeds a set limit. This ensures that the motor operates within safe limits, preventing overheating and potential burnouts due to these factors motor starters are widely utilized in the automotive industry and account for a major share of the motor starter market.
By region, Asia Pacific is projected to have a notable CAGR throughout the projection period due to the increasing automotive production in the region. For instance, according to the Society of Indian Automobile Manufacturers, in the financial year 2023, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles was 2,10,40,248 units. According to the International Energy Agency, electric vehicle sales in India and Indonesia tripled in 2022, with a 1.5% share of total sales. In addition, China leads the market, accounting for 60% of global electric vehicle sales in 2022.
As a part of the report, ABB Inc., Bosch Limited (Robert Bosch), Emerson Electric Co., Fuji Electric Co. Ltd., Hubbell Incorporated, Rockwell Automation, Schneider Electric, and Siemens are significant market players in the motor starter market.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/motor-starter-market
This analytics report segments the motor starter market as follows:
Top 10 Healthcare Technologies
Thought ArticlesThe healthcare sector undergoes continuous transformation, with ongoing advancements in technology and innovation aimed at optimizing and automating cumbersome processes to enhance the efficiency of care delivery. As the industry expands, novel trends come to the forefront, and seizing the opportunities presented by these trends ahead of competitors can be a strategic advantage, contributing to sustained success. Healthcare organizations are actively embracing emerging technologies like AI, IoT, and nanomedicine, seeking innovative solutions to stay ahead in the competitive landscape. The integration of new software not only automates various tasks but also plays a pivotal role in enhancing customer satisfaction.
The top 10 technologies are:
Let’s discuss each one in detail.
1. Generative Artificial Intelligence
The healthcare sector is undergoing a significant transformation with the integration of artificial intelligence (AI). AI algorithms play a crucial role in assisting healthcare professionals in analyzing patient data and medical literature, providing valuable insights for well-informed decision-making. Within the realm of AI, Generative AI stands out as it can produce authentic content, including text and images, without explicit programming. Its capability to learn from existing data patterns and generate novel outputs positions it as a prominent trend that is expected to drive automation to unprecedented levels in the upcoming years. According to data from NASSCOM, there are approximately 416,000 professionals employed in the field of AI in India. The sector is anticipated to experience a growth rate ranging between 20-25%. Moreover, it is projected that AI will make an additional contribution of USD 957 billion to India’s economy by the year 2035. In India’s landscape of AI startups, 23 percent are focused on delivering solutions across various industries. Additionally, 15 percent operate within the e-commerce sector, 12 percent in healthcare, 11 percent in education, and 10 percent in financial services. The remaining startups are distributed among fields such as retail and logistics.
Figure 2: Percentage Division of AI Startups in India
Source: Economic Diplomacy Division
2. Cloud Computing
Cloud computing plays a pivotal role in revolutionizing the operational landscape of healthcare organizations by eliminating the necessity for extensive on-site infrastructure. This not only simplifies the technological requirements but also results in a substantial reduction in capital expenses for these entities. The adoption of a pay-as-you-go model in cloud services introduces a high degree of flexibility. This flexibility empowers medical facilities to strategically manage their budget by paying exclusively for the specific functionalities and services they actively utilize. In essence, cloud computing not only streamlines the IT infrastructure for healthcare organizations but also introduces a cost-efficient approach that aligns financial outlays with actual usage, promoting optimal resource allocation and financial sustainability.
On March 28, 2023, Fujitsu announced the introduction of a new cloud-based platform designed to securely collect and utilize health-related data, facilitating digital transformation within the medical field. This launch marked a significant step in Fujitsu’s ongoing commitment to contribute to the establishment of a healthy society as part of its vision for “Healthy Living” under Fujitsu Uvance for creating a sustainable world. Starting March 28, 2023, Fujitsu made the platform available to medical institutions and pharmaceutical companies in Japan. The innovative platform automates the conversion of medical data from electronic medical records in medical institutions to comply with the next-generation standards framework and ensures the secure aggregation of health-related data. With patient consent, individuals can securely store personal health information, including vital data, step counts, and calorie consumption, all converted into non-personally identifiable information on the platform. This, in turn, assists medical institutions and pharmaceutical companies in conducting data analysis and R&D activities, accelerating the advancement of individualized healthcare and the exploration of new drugs.
3. Solutions for Mental Health
The accessibility of mental health support has undergone a notable transformation, now available on various electronic devices, representing a significant departure from previous decades. Striking a balance between the quality of care within the convergence of clinical science and technological entrepreneurship poses an ongoing challenge. However, recent advancements, particularly in the realm of AI and robotics, hold promising solutions to address this challenge.
As of June 15, 2020, Akili made a groundbreaking announcement regarding the U.S. Food and Drug Administration (FDA) granting clearance for EndeavorRx™ (AKL-T01) as a prescribed treatment for children diagnosed with attention-deficit/hyperactivity disorder (ADHD). Delivered through an engaging video game experience, EndeavorRx is specifically designed to enhance attention function, as evaluated through computer-based testing. This prescription treatment is targeted at children between the ages of 8 and 12 who exhibit primarily inattentive or combined-type ADHD and have demonstrated attention-related challenges. The integration of innovative technologies, such as the captivating video game format, underscores a pioneering approach in leveraging technology for mental health support, particularly in the context of ADHD in children. This development signifies a significant step forward in the intersection of healthcare, technology, and mental health treatment.
4. Virtual Reality
A prominent trend gaining substantial traction within the pharmaceutical industry involves the utilization of cutting-edge technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). These innovative technologies are proving to be instrumental in enhancing both patient recovery times and the overall management of hospitals. By leveraging these immersive technologies, medical professionals can create computer-generated environments that simulate specific situations or experiences of interest. This is accomplished through the use of VR headsets, providing a transformative tool for healthcare practitioners to immerse themselves in virtual scenarios relevant to patient care, medical training, and hospital administration. The application of VR, AR, and MR is opening new avenues for improved healthcare delivery and is poised to play a pivotal role in shaping the future landscape of the pharmaceutical and medical sectors.
In May 2022, MediSim VR inaugurated the inaugural fully automated VR simulation lab at the Puducherry Institute of Medical Sciences (PIMS), marking a pioneering initiative. This state-of-the-art facility aims to augment conventional training methods by providing institutions with AI-powered competency assessment tools, facilitating a comprehensive understanding of student performance and avenues for improvement. Leveraging the synergy of Virtual Reality (VR) and simulation technology, MediSim VR offers an immersive learning experience, catering to healthcare professionals across the board. Their patented technology encompasses Skill Training, Virtual Patients, and Situational Training modules, fostering the development of essential skills crucial for patient care. Notably, through ongoing research in Haptics, MediSim VR has earned the distinction of being the first Indian company to become a resident company at Johnson & Johnson Innovation Labs in Boston.
5. Virtual care and Telemedicine
The provision of virtual healthcare services, including telemedicine software and remote patient monitoring, offers numerous advantages for both patients and physicians. The popularity of virtual care has surged as it provides cost-effective and efficient healthcare in flexible settings. Factors such as reimbursement initiatives and regulatory measures contribute to this trend. In the evolving landscape of healthcare, mobility plays a pivotal role in shaping expectations for accessing goods and services, including medical care. Patients increasingly seek similar accessibility to healthcare as they do for other aspects of their daily lives. Despite some providers being slow to embrace this trend, the mainstream adoption of connected devices and on-demand care appears inevitable. Virtual ultrasound collaboration exemplifies the expanded reach of specialized care, allowing doctors to remotely communicate with their team and patients across various locations. This virtual collaboration enhances provider availability, ensuring a more consistent delivery of care across different facilities.
In March 2023, Philips introduced Philips Virtual Care Management, a comprehensive portfolio of flexible solutions and services aimed at fostering more meaningful connections between health systems, providers, payers, and employer groups and their patients. This initiative is designed to alleviate pressure on hospital staff by reducing emergency department visits and managing chronic diseases more effectively, ultimately lowering the overall cost of care. Similarly, in May 2022, CVS Health launched CVS Health Virtual Primary Care, a digital platform offering a new virtual care solution. This initiative integrates CVS Health’s services, clinical expertise, and data to create a more coordinated and consumer-centric healthcare experience. By enabling consumers to choose care at their convenience, whether in retail or community-based settings, through at-home health services, or virtually, CVS Health is advancing its strategy to enhance primary care and provide a more accessible and flexible healthcare experience.
6. Smart Wearable Devices
The distinction between consumer health wearables and medical devices is becoming increasingly blurred, and the demand for wearable devices such as Fitbits is surging, particularly in the realm of mobile devices. Wearable devices play a crucial role in the medical industry, enabling continuous monitoring of vital signs and health metrics. These devices offer real-time data to healthcare providers, facilitating remote tracking of patient health and timely interventions. Furthermore, wearables encourage proactive health management, empowering individuals to monitor their well-being and adopt healthier lifestyles. On January 24, 2023, Titan launched its latest smartwatch, Titan Talk S, designed to efficiently meet the evolving needs of consumers. This smartwatch combines lifestyle and technology, allowing users to monitor parameters such as breathing rate, SpO2, blood pressure, sleep, and women’s health. Packed with features like camera control, voice recorder, calculator, activity tracker, weather information, and sports trackers, the smartwatch serves as an everyday companion from day to night. With additional features such as hydration and sedentary alerts, a 5-day battery life under standard conditions, phone finder, alarm, stopwatch, and timer, Titan Talk S effectively assists in managing hectic schedules within the daily hustle.
7. Nanomedicine
Nanomedicine utilizes technologies operating at the nanoscale to employ nano-enabled techniques in various aspects of healthcare, encompassing disease prevention, diagnosis, monitoring, and treatment. The applications of nanotechnology in this field are diverse and encompass a wide range of functionalities. These include, but are not limited to, advancements in medical imaging, the development of diagnostic kits, the creation of biological sensors, gene activation techniques, and surface sterilization for medical devices. The integration of nanotechnology into medicine opens up innovative possibilities for enhancing precision, efficacy, and specificity in various medical procedures, showcasing its potential to revolutionize the landscape of healthcare. The ability to manipulate materials at the nanoscale provides a unique toolbox for creating novel solutions and addressing challenges in medical science, ultimately contributing to advancements in patient care and treatment methodologies.
In January 2022, Pfizer engaged in a collaborative agreement with Acuitas Therapeutics to leverage their expertise in the realm of Lipid Nanoparticle Delivery Systems. This collaboration aimed to integrate Acuitas Therapeutics’ advanced delivery system into Pfizer’s mRNA vaccines and therapeutics. The utilization of lipid nanoparticles represents a cutting-edge approach in enhancing the delivery efficiency of mRNA-based treatments, contributing to the advancement of innovative vaccines and therapeutic solutions. This partnership underscores the industry’s commitment to exploring novel technologies to improve the effectiveness and applicability of mRNA-based medical interventions, with potential implications for a range of diseases and conditions.
8. 3D Bioprinting
While 3D bioprinting has been a known technology in healthcare, its recent advancements in creating natural tissue-like, three-dimensional structures have captured the attention of scientists and researchers. The field is experiencing significant growth with the emergence of sophisticated prosthetics treatments and improved technologies, promising a future where it becomes more widely adopted. This advancement not only addresses the hefty costs associated with implants and prosthetic treatments but also opens up diverse options for patients, particularly in the realm of cardiovascular and neurological implants. Moreover, 3D bioprinting is poised to enhance bionic prostheses for knees and hips, offering more personalized and efficient solutions. Currently, the technology is actively developing human organ and tissue structures for research purposes, with the potential to integrate these structures with biocompatible microfluidics, constructing intricate models that replicate the natural functions of human organs.
In June 2023, Schaeffler Special Machinery is set to showcase cutting-edge multi-material 3D printing systems at Automatica. This innovative solution is designed to empower customers by enabling the utilization of inventive material combinations, integrating new functionalities into components and tools, and offering enhanced flexibility in product and tool design. As part of its display of production concepts in the medical sector, Schaeffler Special Machinery will unveil a solution at Automatica that facilitates the adaptable assembly of X-ray tubes, catering to the production of six different variants. Additionally, within the realm of e-mobility, the fully affiliated Schaeffler subsidiary will present a range of solutions, including a system for manufacturing integrated electric axle systems comprising an electric motor, transmission, and a power electronics unit.
9. Big Data in Healthcare
In the realm of healthcare technology, big data plays a crucial role, particularly within the electronic health records (EHR) and electronic medical records (EMR) industry. The integration of big data with medical apps generates extensive datasets, fostering advanced analytics, data-driven decision-making, and the delivery of personalized patient care. The introduction of 5G technology, characterized by high data outputs, increased data speeds, and enhanced device interactions, has significantly bolstered automation tools, thereby improved office efficiency and boosting employee productivity. Looking forward, the anticipation of 6G in the coming years holds promises of even further advancements in data connectivity. Big data analytics emerges as a transformative force in healthcare, revolutionizing telehealth, reducing diagnostic costs, and refining treatment analysis. The utilization of data mining and analysis tools within big data contributes significantly to the treatment of rare diseases, leading to advancements in patient care and healthcare practices as a whole.
With a population of approximately 1.3 billion, Big Data assumes a significant role in the Indian context. According to a study conducted by NASSCOM, it is projected that the Indian analytics industry will reach the $16 billion milestone by the year 2025.
A 2022 paper released by PubMed Central delves into the incorporation of Big Data Analytics (BDA) in healthcare, emphasizing its potential to introduce new technologies in both patient treatment and health management. The paper aims to explore the opportunities presented by the integration of Big Data Analytics in the healthcare sector, drawing insights from a critical analysis of existing literature and presenting select findings from direct research on the application of Big Data Analytics in medical facilities.
10. Internet of Medical Things (IoMT)
The Internet of Medical Things (IoMT) encompasses a collection of internet-connected medical devices, including both hardware and software technologies, that are linked through the internet. The integration of a multitude of medical devices with the internet facilitates the seamless transmission and storage of vast amounts of data. This influx of data, when analyzed, holds the potential to enable the early diagnosis of chronic or emergency medical conditions. Beyond data transmission, the IoMT opens up avenues for innovative applications, such as the deployment of smart robot nurses. Notably, Italian hospitals have already embraced this technology during the COVID-19 emergencies, utilizing smart robots to monitor patients’ blood pressure and SpO2 levels. The IoMT stands as a transformative force in healthcare, offering enhanced connectivity, data-driven insights, and the prospect of advanced technologies contributing to improved patient care and health outcomes. Conceived by two female robotics experts, Moxi stands as the inaugural robot in active use that employs artificial intelligence, constantly adjusting to shifts in hospital workflows through learning from its human interactions. Sporting a mechanical arm, a gripping hand, and the capability to carry up to 70 pounds, Moxi possesses mobility that allows it to traverse hospital corridors and elevators, facilitating deliveries to nurses and other staff members.
Semiconductor Manufacturing Material Market is estimated to reach a market size of US$71.143 billion by 2028
Press ReleasesThe semiconductor manufacturing material market was valued at US$56.884 billion in 2021 and is anticipated to grow at a CAGR of 3.25% over the forecasted period to reach a market size of US$71.143 billion in 2028.
The market for semiconductor manufacturing material market is significantly impacted favourably by the growing usage of semiconductor chips from the end user industry.
As per the report, the global semiconductor manufacturing material market is expected to grow at a significant pace.
Semiconductor manufacturing materials are critical in the complex process of creating electronic gadgets that fuel our current technological world. Silicon, a commonly used element because of its availability and remarkable electrical characteristics, is at the forefront of these materials. Silicon, as the foundation of the semiconductor industry, enables the fabrication of integrated circuits and microchips, which serve as the foundation for a wide range of electronic applications. Beyond silicon, elements such as germanium and gallium arsenide have niche applications in semiconductor devices. Continuous development and innovation in semiconductor production materials are critical in addressing the increasing need for quicker, smaller, and more efficient electronic components, which drives improvements in electronics and technology in general.
One of the primary factors fueling the semiconductor manufacturing material business throughout the predicted period is the rising demand for consumer electronics. Companies are introducing new and developed items into their product lines that are equipped with technologies such as the Internet of Things (IoT), and numerous end-user industries are implementing the usage of modern consumer electronic devices for efficient functioning. The growing growth of IoT technologies such as NB-IoT and Cat-M, which generally consist of wide-area situations, is one of the factors driving the semiconductor fabrication material market higher. Furthermore, in countries such as China, where car production is prevalent, the use of such materials is expanding, boosting the need for semiconductor manufacturing materials.
The market is witnessing multiple collaborations and technological advancements, for instance, in August 2022, Indium Corporation introduced a new line of goods based on their GalliTHERM line, which provides revolutionary solutions based on gallium-based liquid metals. These products will be increasingly used in semiconductor fabrication.
The global semiconductor manufacturing material market has been categorized based on type and geography.
Based on type the global semiconductor manufacturing material market is divided into silicon, germanium, gallium arsenide and others. Among these, the silicon segment is anticipated to expand at a high CAGR over the forecast period. Silicon has traditionally been the chosen material for semiconductor manufacture due to its availability, low cost, and outstanding electrical properties. It is frequently employed in the fabrication of integrated circuits and other semiconductor devices. While germanium and gallium arsenide are used in certain applications such as high-frequency devices, silicon remains the market leader in the semiconductor manufacturing material industry due to its widespread acceptance and continual developments in silicon-based technology.
Based on Geography the North American region is likely to grow at a significant rate over the forecast period. The semiconductor manufacturing material market is expanding due to its critical role in allowing technical improvements and innovation across a wide range of sectors, including electronics, telecommunications, automotive, and healthcare. The region is further subdivided into the United States, Canada, and Mexico. The United States will likely retain a significant share of the semiconductor manufacturing material industry, driven by rising demand for high-performance semiconductors for emerging technologies such as 5G, artificial intelligence, and electric vehicles, as well as government support for domestic semiconductor production. The Canadian market is predicted to grow significantly as a result of many reasons, including a strong technological industry, greater investment in research and development, and a focus on sustainable semiconductor manufacturing techniques.
As a part of the report, BASF SE, LG Chem Ltd, Indium Corporation, Resonac, KYOCERA Corporation, Henkel AG & Company KGAA, Sumitomo Chemical Co. Ltd, Dow Chemical Co., International Quantum Epitaxy PLC, Nichia Corporation are the major players in the global semiconductor manufacturing material market
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This global semiconductor manufacturing material market has been analyzed into the following segments:
RFID for healthcare and pharmaceutical market size worth US$1,258.747 million by 2028
Press ReleasesThe RFID for healthcare and pharmaceutical market was valued at US$434.500 million in 2021 and is anticipated to grow at a CAGR of 16.41% over the forecasted period to reach a market size of US$1,258.747 million in 2028.
The RFID for healthcare and pharmaceutical market is influenced by factors such as the rising adoption of portable RFID, the enhanced data collection capabilities and efficiency of RFID, and the increasing investments in RFID are contributing to the growth of this technology.
As per the report, the RFID for healthcare and pharmaceutical market is expected to grow at a steady pace.
RFID, or Radio Frequency Identification, is a technology that utilizes radio waves for the automatic identification and tracking of various objects, finding applications across diverse industries, notably in healthcare and pharmaceuticals. Within the healthcare and pharmaceutical sectors, RFID technology plays a crucial role in enhancing operational efficiency, ensuring safety, and optimizing inventory management. In healthcare settings, RFID tags serve multiple purposes, facilitating the tracking and management of medical equipment, monitoring patient identification, and improving the accuracy of medication administration. The implementation of RFID in healthcare contributes to streamlined processes, reducing errors, and enhancing overall patient care.
Similarly, in the pharmaceutical industry, RFID technology proves instrumental in fortifying the supply chain. It achieves this by tracking product authenticity, mitigating the risks of counterfeiting, and ensuring the proper storage and distribution of medications. These applications of RFID in pharmaceuticals not only bolster patient safety but also contribute to regulatory compliance, addressing critical concerns within the industry. The utilization of RFID technology in healthcare and pharmaceuticals underscores its transformative impact on operational efficiency, safety protocols, and regulatory adherence.
Based on end-users, the market can be segmented into hospitals, pharmaceuticals, and research laboratories. An increasing number of hospitals and healthcare systems are embracing RFID tags to track medications within their facilities. Simultaneously, the pharmaceutical industry has adopted RFID technology to combat the counterfeiting of prescription medicines, resulting in enhanced supply chain security and operational advantages. Ongoing technological advancements empower manufacturers to precisely analyse consumption and inventory data by leveraging data analysis techniques and RFID technology.
In terms of type, the market is categorized into RFID tags and labels and RFID systems and softwares. The deployment of advanced RFID tags and readers in the pharmaceutical sector has empowered drug manufacturers and wholesalers to mitigate medical errors and enhance the safety of personalized medicinal products. The growing integration of RFID technology in healthcare is poised to drive market expansion, given its capacity for real-time tracking, tracing, and authentication of pharmaceuticals within the drug industry. An article released by PubMed Central in August 2022 underscored the advancement of applications like real-time locating systems (This progress is anticipated to play a significant role in the swift growth of the RFID industry in the forthcoming years.
Based on the application, the pharmaceutical sector has progressively embraced RFID technologies to improve transparency throughout the value chain and combat the tracking of counterfeit drugs. The rising occurrences of counterfeit drugs and drug recalls have prompted governments to revise regulations of drug quality and enforce stringent measures. Consequently, QR codes or RFID tags are now mandated on active pharmaceutical ingredients and products for safety and tracking reasons. This pattern is expected to propel the expansion of RFID in drug tracing systems in the future.
Several factors are expected to contribute to the growth of the RFID market for healthcare and pharmaceuticals in the United States. These factors include the introduction of innovations and technological advancements, rising demand for efficient supply chain management, and increasing adoption of RFID, in conjunction with electronic product codes (EPC), for the real-time monitoring, marking, and verification of drugs within the pharmaceutical industry. Additionally, as reported by The Commonwealth Fund, the United States witnessed a significant increase in annual healthcare expenditures, rising from 16.70% of the GDP in 2019 to 18.80% in 2020. In 2021, the expenditure accounted for 17.80% of the United States GDP. With the nation’s substantial investment in healthcare, a steady growth in the utilization of RFID for healthcare and pharmaceutical purposes is anticipated in the United States.
Zebra Technologies Corp, Checkpoint Systems, Inc., GAO Group, Fresenius Kabi, Avery Dennison Corporation, Tageos, Invengo Technology Pte. Ltd, Denso Wave, CCL Industries Inc., iGPS are among the notable companies in the field of RFID in the healthcare and pharmaceuticals market.
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This analytics report segments the RFID for healthcare and pharmaceutical market on the following basis:
Segmentation: