Compound Semiconductors Are Better

The Compound Semiconductors market is anticipated to grow at CAGR 10.65% and reach a market size worth US$102.764 billion by the end of 2026. The market was valued at US$50.606 billion in 2019. The prime region driving the growth in this market is the surging adoption of compound semiconductors in the consumer electronic and automotive industry.

compound semiconductor market

Compound Semiconductors are semiconductors that are made from more than one element, particular is a combination of more than one element from Group 3 and Group 5 of the periodic table. Efficient compound semiconductors can also form from elements mixture of group 2 and group 6. Group 4 has unique properties that elements within the group have the capability of formation of compound semiconductors. Silicon, germanium, and selenium are examples of semiconductors which are not a compound semiconductor as they are made from fewer elements from the same group (except those from group 4). These semiconductors are widely used across the consumer electronics and automotive sectors. However, the market is constrained by high costs across the complete supply chain owing to complicated systems.

Simple Semiconductors Give Competition to Compound Semiconductors

The compound semiconductor market faces great competition from simple semiconductors, even though they possess more properties that outperform simple semiconductors. Silicon, germanium, and selenium are an example of simple semiconductors which are efficient and lower in cost, as compared with compound semiconductors. Silicon is the 2nd largest available element on Earth, after water, and is found in soil, water, plants, and trees. However, it is not available in pure form. For semiconductors, 99.999% pure silicon is required, which is extracted using processing. Furthermore, since compound semiconductors involve a merger of more than one element from different groups, there are chances and risk of defaults, which constrain the market for them.

Consumer Electronics Segment of the Market Has Huge Growth Potential For Quantum Compound Semiconductors During the Forecasted Period

Based on End-Users Industry, the market for compound semiconductors is segmented as consumer electronics, automotive, energy and power, communication and technology, healthcare, and others. the consumer electronic segment of the market is anticipated to grow the demand for compound semiconductors at an exponential rate during the forecasted period owing to surging demand for their industrial goods. Compound semiconductors have the property of electron mobility, lower power consumption, and significant temperature limits, making them quite useful in electronics and equipment. The consumer electronic industry has realized exponential market demand growth in the past decade with surging demand for advanced products such as smartphones. Research and development have resulted in innovation in the industry and the launch of new products such as smartwatches, smart tabs, smart TVs, health-tracking devices, and others. Moreover, a surge in disposable income, especially in developing nations, along with increased consumer expenditure on the latest electronics has spiked the demand for compound semiconductors to be used in consumer electronics.

Semiconductors facilitate several functions in a vehicle, such as power for battery management, in-car entertainment, and driver assistance, hence having a crucial role in the automobile industry. compound semiconductors are slowly adopted by the automotive industry which is growing at a significant pace. Skyrocketing demand for automotive, especially passenger cars for private and commercial use is boosting the demand for spare parts, including compound semiconductors. The healthcare sector as well is anticipated to contribute considerably to the market growth of compound semiconductors while the energy and power and communication and technology segment provide immense market potential.  The telecommunication industry is expected to increase market demand for compound semiconductors with surging usage of smart devices and demand for an advanced network such as the 5G network. 

The Atomic Layer Deposition Fabrication Process of Compound Semiconductors Will Grow at a Significant Rate During the Analyzed Period

Based on the fabrication process, the market for semiconductors is fragmented as Hydride Vapor Phase Epitaxy (HVPE), Metalorganic Vapor Phase Epitaxy (MVPE), Atomic layer deposition (ALD), and others. the ALD fabrication process is predicted to grow at a significant rate during the forecasted period while HVPE and MVPE will dominate the market for the fabrication process of compound semiconductors.

The online distribution channel has seen a surge in demand with rising internet penetration across the world. Firms are also launching online channels or selling their products through existing online spaces. Texas Instruments, for example, announced in December 2020 the availability of its high-reliability semiconductor products on the online platform TI.com, facilitating defense and aerospace companies to receive authentic TI products.

Asia Pacific Region Will Outstand the Market and Grow at an Exponential Rate

Based on Geography, the market for compound semiconductors is segmented as North American region, South American region, European region, the Middle East and African region, and the Asia Pacific region. The North American region is predicted to dominate the market during the forecasted period owing to its state-of-art infrastructure and technological advancement. The government as well as supporting the development of infrastructure for better technological penetration. In November 2020, the U.S. government contracted with Qorvo Inc. to develop state-of-art infrastructure for the development of heterogeneously integrated packaging RF production and prototyping center.

The Asia Pacific region, on the other hand, is predicted to grow at the fastest rate during the forecasted period and attain a huge market. the prime reason for market growth is mushrooming consumer electronic and automobile industries in the region demanding more semiconductors for production. The region has also incurred a booming market for consumer electronics with the rise in consumer disposable income. Firms operating in the industry in this area are also strengthening their strategies to incorporate the growing market demand. Toshiba, for instance, merged its two subsidiaries to form Toshiba Electronic Device Solution Corporation for better R&D of its semiconductor business. The market has huge growth potential in the region.

COVID Pandemic Impact

The coronavirus pandemic has a severe impact on the compound semiconductor market which is covered in detail in the analysis report. Nationwide lockdown resulted in a disturbed supply chain and sluggish production, harming the industry significantly.

 

Connected Logistics Market – Connecting the World

The connected logistics market is estimated to be valued at US$8,669.325 million in 2019.

Connected logistics is defined as an interdependent set of communication devices, joints, and Internet of Things (IoT) technologies that can change the key logistical processes to become more customer-centric by sharing data, information, and facts with the supply chain partners. Increase in the adoption of Internet of Things (IoT) technologies and sensor-based technologies such as RFID in various domains including the Supply Chain Management (SCM) system is expected to boost the connected logistics market in the forecast period. In addition, the decreasing cost of sensors and the requirement of the operational efficiency is further augmenting the connected logistics market during the forecasted period.

connected logistics market

The advancing future technologies such as Advanced analytics and Big Data will act as the catalyser for the Logistics 4.0 adoption. The data is collected from the connected and smart supply chain and logistics which can be converted into actionable insights using the Artificial Intelligence systems thus improving the capacity planning.

According to CISCO, the global internet traffic from the non-PC devices was 47% of the total IP traffic in 2019 and is expected to be 71% of the total IP traffic in 2020. In addition, Machine-To-Machine (M2M) connections is expected to be the half of the total connected devices and connections in the world by 2023, thus, there will be 14.7 M2M connections by 2023 from 33% in 2018.

However, the lack of uniform governance standards, logistics security and safety issue and the lack of the data management and interoperability is expected to create a challenge for the market growth of the connected logistics during the forecasted period.

Market Players included in the report of the Connected Logistics Market are Intel Corporation, Losant IoT, Bosch Service Solutions GmbH, SAP SE, E2open, IBM   Corporation, Infosys Limited, Freightgate Inc., Agility, and ATT Logistics

Market Size by Region

Global connected logistics on the basis of region is segmented as North America, South America, Europe, Middle East, and Africa, and the Asia Pacific.

North America is expected to hold the major share of the market. This is primarily due to the early adoption of the technology and the presence of the well-established internet infrastructure.  North America have adopted connected logistics solutions that leverage advanced technologies such as big data, machine learning, cloud computing, artificial intelligence, and the Internet of Things (IoT).  For instance, King County Department of Transportation upgraded to Infor Inc’s asset tracking solutions – CloudSuite EAM in 2019 to efficiently manage 1,500 buses and 171 transit base structures/facilities. The CloudSuite EAM solution is estimated to track 46,988 pieces of in-service equipment which span across multiple divisions and departments. However, due to the outbreak of Covid-19, the government of the United States have shut down all the logistic operation which is negatively impacting the industry. The government is however showing more flexibility towards online assistance and telework which is expected to drive the connected logistics market during the forecasted period.

While Asia Pacific region is expected to witness a rapidly growing CAGR during the forecasted period due to the increasing number of SMEs, increasing expenditure towards setting up the internet infrastructure, booming e-commerce industry, and focusing to develop Internet of Things-enabled solutions for the effective supply chain management. China is the largest e-commerce market globally and the region witness over 50% of the transactions. According to Dezan Shira and Associates, China’s e-commerce market is predicted to be larger than USA, UK, Germany, France, and Japan combined in 2020. China online retail sales reached USD 1.33 trillion in 2018 and is forecasted to reach USD 1.99 trillion by the end of 2019. Growth is majorly attributed to the establishment of a global logistics network and the development in the internet infrastructure.

Market Size by Segment

Connected Logistics Market on the basis of software is segmented as Asset Management, Warehouse IoT, Security, Data Management, Network Management and Streaming Analytics. Walmart is using machine learning, the Internet of Things (IoT), and Big Data to transform its retail operation and apply it to improve the experience of its customers. Walmart was one of the early adopters of RFID tags to track their inventories.

The connected logistics market on the basis of transport is segmented as Roadways, Railways, Airways, and Seaways. Roadway’s segment is expected to hold the largest share of the connected logistics market by basis of transportation and is expected to grow during the forecasted period. This mainly attributed to the rising requirement to organize and manage the flow of the good in distribution, production.

 While seaways segment is expected to witness the fastest-growing segment on account of rising the need for the ocean freight solution for the transportation of the frozen cargo.

Market Growth

The increasing applications and adoption of future technologies and the Internet of Things (IoT) by different technologies is expected to increase the market demand of connected technologies. Huawei released the Smart Logistics Solution during MWC 2019 to aid the enterprises in enhancing the efficiency in logistics industry such as in warehousing, transportations, distribution, thus, facilitating agile innovations and achieving digital, intelligent and information-based management. The organisations are increasingly adopting technology-based logistics to increase the efficiency and speed of their transactions. According to the survey conducted by Verizon is 2019, concluded that more than one-third of the fleet managers who do not use the fleet tracking solutions expect an increase in productivity if they implemented the technology. Further, the survey also indicates that over 53% of the companies who make use of the asset tracking solution report the actual productivity increase as most of the respondents to report positive growth in productivity (53% respondents) and compliance (52% respondents).

Intel announced cost-effective internet of things (IoT) solution, the Intel Connected Logistics Platform (Intel CLP) in 2019 that enable the users to monitor the condition of the location and condition of assets throughout the supply chain in any environment.

Active Packaging is Smart Packaging

The global active packaging market is predicted to grow at a CAGR of 6.62% to attain a market size of US$31.924 billion by the end of 2026. This market was worth US$20.386 billion in the year-end 2019. One of the prime reasons driving the growth in this market is its capability of increasing the shelf-life of the product stored inside the package. Active packaging is also considered as smart or intelligent packaging and widely used by numerous industries. It is a packaging system that is developed and coordinated to ensure maintenance and improvement of health and nutrition property, organoleptic properties, and the quality of food packed.

active packaging market

The innovation was a resulted of surging demand for easy-to-cook but fresh semi-prepared food products which saves cooking time. Moreover, hectic lifestyle and level-up standard of livings has originated demand for ready-to-eat and healthy food products having fewer treatments or chemical interference and have a long shelf-life. Active Packaging ensures food limited chemical interaction by increasing the shelf-life using its advanced technology.

Types and Advantage of Active Packaging

There are several types of active packaging based on the system it is used for. With the help of active elements, which are placed in the package, to deliver several operations. These elements are either small packets, envelop or label that are incorporated through extrusion, printing, or lamination, decreasing consumer worry of finding additional objects in the package. Active packaging with temperature systems enables food to be heated or cooled within the package, before serving. Vsteam bags are one such example of active packaging with a temperature control feature. The bag can be directly transferred into the refrigerator or microwave and cool or heat the content by decreasing or increasing the inside temperature. Active packaging having absorption and elimination property has the capability to absorb and eliminate unwanted substances, excess moisture, and taste and smells. The advantage of these packaging includes extended shelf-life without chemical interference. They also facilitate a reduction in food wastage and are biodegradable.

Based on packaging technology, the active packaging market is separated as oxygen scavengers, moisture controllers, antimicrobial agents, UV blocking, and others. UV blocking active packaging technology is predicted to grow at a measurable rate during the forecasted period because of its capability of absorbing excess oils and fats from the stored food, reducing the risk of them oxidizing when exposed to atmospheric temperature or light. It also prevents oxidation of vitamins and colors, being highly efficient at protection at the microbiological level.

Fast-Pacing, Hectic Lifestyle Is Boosting the Disposable Income, Increasing the Demand for Active Packaging For a Better Product Experience

Based on the end-user industry, the global active packaging market is segmented into food, beverage, pharmaceutical and healthcare, electronic application, consumer care, and others. The food and beverage segment of the market is expected to outstand other segments and grow at an exponential rate during the forecasted period. The prime reasons resulting in such immense growth is the rising adoption of active packaging owing to surging demand due to fast-pacing, hectic lifestyle adoption which has significantly increased consumers disposable income and escalating demand for ready-to-eat food and beverages and semi-cooked food products. The food and beverage ecosystem today are far more completed than it was a decade ago. In the past, a straight chain of distribution carried food and beverages from processors to consumers. However, today’s food supply chain is much more complex, involving more agents. Furthermore, with rising internet and technology adoption along with new channels of business, today’s customer is both, the supplier/ restaurant, and the end product consumer. These complex chains require batter packaging so as to ensure healthier food delivery to the final users, significantly surging the usage of active packaging. Since active packaging involves minimal usage of chemicals and stores the food using gases, the food remains fresh and healthy.

Food Supply Chain in Past

food supply chain in past

Food Supply Chain Today

food supply chain today

The Pharmaceutical sector is expected to grow at a considerable rate during the time frame. Rising chronic diseases and adoption of advance packaging method is driving the market growth. Consumers today prefer the sole package of pills, then glass bottles, as they are convenient to carry and helps in keeping a track record of medicine intake. The consumer care fragment will grow at a significant rate with surging use of consumer care products such as face masks, eye masks, feet mask, and others. The global skincare market is booming, with an increasing preference for organic products without chemical interference. Manufacturers in the industry are employing active packaging technology to supply 100% organic products to their consumers. Active Packaging also facilitates a longer life of these organic products. hence the skincare market has significantly increased the market size.

The Asia Pacific Market Is Expected to Grow at the Fastest Growth Rate While the North American Region Will Dominate the Market

Based on Geography, the market for active packaging is segmented into the North American region, South American region, European region, the Middle East and African region, and the Asia Pacific region. The North American region is predicted to dominate the market during the forecasted period owing to the high consumption of ready-to-eat or semi-prepared food and beverages. The pharmaceutical and personal care segment will also boost the market growth. The Asia Pacific market is eyed to grow at the fastest rate during the predicted period. The prime reasons are growing disposable income along with the adoption of package food. The personal and consumer care sector will contribute to significant growth. China is one of the biggest consumers of personal care products. Customers prefer organic products, such as CBD skincare products, over chemical products, increasing the employment of active packaging. Moreover, the booming consumer electronic manufacturing sector creates a huge market potential for active packaging.

Coronavirus Pandemic Insights

The analysis report offered also consist detailed study regarding the effect of the coronavirus pandemic in the packaging industry, noting crucial effects on the active packaging market. The pandemic and lockdown had a severe impact on the active packaging business de to disturbed supply chain and physical shut down, along with travel restrictions.

Technological Advancements Adding More Dimensions to the Teleradiology Industry

Teleradiology helps healthcare professionals to access the patient information irrespective of the distance which improves the diagnostic coverage. The rise in the adoption of teleradiology for timely diagnosis is expected to propel market growth. Clinics and hospitals were expected to be the largest end-users of teleradiology. Further with the advancement of technology and digitalization, the hospitals are further adopting it for automation and digitalization the patient records. The adoption of advanced imaging modalities is expected to improve the workflow of the hospitals and boost the market demand for teleradiology during the forecasted period. The rise in the number of imaging procedures is expected to adopt the teleradiology solution for reliability and efficiency. Teleradiology is adopted by the trained professionals to transmit images such as CTs, MRIs, and X-Rays from one location to another to effectively analyze the case study. Teleradiology is easily available to the rural population.

teleradiology market

However, Protecting Access to Medicare Act (PAMA) from January 2020 will require referring providers to consult Appropriate Use Criteria (AUC) using a Clinical Decision Support (CDS) tool when ordering advanced diagnostic imaging services – CT, MR, Nuclear Medicine, and PET – for medical patients. These developments will significantly hamper the growth in the US market.

Some of the players of the teleradiology market are Sectra AB, All-American Teleradiology, Everlight Radiology, StatRad, LLC, 4ways Limited, Task Force Health Care, and Telemedicine Clinic. The teleradiology market is estimated to grow at a CAGR of 13.81% to reach US$9.049 billion in 2026 from US$3.658 billion in 2019.

Market Drivers

The teleradiology market is rising due to emergencies, shortage of healthcare professionals such as musculoskeletal radiology, neurology, and pediatrics, especially during the pandemic. The integration of Artificial Intelligence (AI) into the teleradiology of Picture Archiving and Communication System (PACS) further the rise in the activities of research & development related to eHealth are the key factors that are predicted to boost the market demand for teleradiology solutions during the forecasted period. For instance, HDM world chose RamSoft’s PowerServer PACS for its business model and is expected to increase the safety and safety of the patient data transfer thus allowing quicker diagnosis. Demand for the out of hours reporting is considered a critical application especially in the cases of very serious injury and requires a fast and accurate diagnosis. Because of the lack of on-site radiologists working out of hours, the diagnostic image can be sent externally to the tele radiologists. However, the advancement of technology can have a significant positive impact on teleradiology which will improve the speed, accuracy, and decision support. In November 2020, 4ways has recently invested in a new Interactive Voice Routing telephony system to help them deliver greater efficiency across their urgent services.  

North America to Hold the Major Share

The teleradiology market is segmented by region as North America, South America, Europe, Middle East, and Africa, Asia Pacific. North America is projected to hold the largest share of the teleradiology market due to the rising geriatric population, increase in awareness regarding teleradiology among individuals, technological advancement, and the prevalence of high chronic diseases. The region is expected to maintain its dominance during the forecasted period. Further, the supportive initiatives by the government, increase in the demand for efficient teleradiology solutions and developed infrastructure are likely to boost the teleradiology market in this region.

While Europe accounts for a significant share of the market. The rise in the number of awareness programs regarding teleradiology and its application is expected to augment the teleradiology market.

The Teleradiology market is estimated to be driven by the shortage of radiologists in certain regions. According to the Association of American Medical Colleges specialist shortfall will continue to increase and will reach nearly 42,000 by the year 2033. Moreover, in Europe, the UK and Eire have an exceptionally high shortage of radiologists; in the year 2019, there was an estimate of 7 radiologists per 1,00,000 people in the UK and Eire.

COVID-19 Impact

The outbreak of the covid-19 pandemic and subsequent lockdown impacted every industry including the teleradiology market. The teleradiology market has been on the upward trend and is expected to continue to surge during the forecasted period. During the pandemic, the market demand for teleradiology services increased as the lockdown has led to rising dependence on the technology due to work from home and the shift of university and schools online. Teleradiology offered by the providers is flexible, scalable quality with reporting service that can respond to the time constraints, various subspeciality, reporting delivery, and geography constraints. It is expected that post-covid-19 the teleradiology market will witness lucrative growth during the forecasted period as it is estimated that post-crisis teleradiology will be adopted as the daily routine of the radiology services.

Motion Sensor Market – Increases the Standard Of Living

Motion sensor is an electronic device that is used to detect nearby motion with help of sensing technology which is connected to the automated system. It is also used to alert or perform the task depending on the application for which it is used. The emerging trend of smart homes and the number of household applications such as home control and automated lighting control among other applications is further augmenting the market demand. The market of the motion sensors is expected to witness promising growth during the forecasted growth due to the burgeoning investment in the automation solution across various industrial verticals.

motion sensor market

The market is witnessing significant growth due to the surge in the demand for wearable devices and smartphones, especially in developing regions. The high demand is encouraging the market players of the motion sensor to invest and focus on the research and development to offer new and enhanced sensor technologies. For instance, TDK corporation introduced InvenSense SmartBug in August 2020 that is integrated with TDK’s six axes IMU with ultrasonic sensors and high-precision algorithms. It can be adopted by consumer and commercial IoT applications.

The motion sensors are ideally suitable for various industrial and scientific applications such as medical research, automotive, and robotics. For instance, Bosch Limited had recently launched a BMA456 accelerometer that includes optimized hearable features which is integrated with one sensor. The sensor can also be used to reduce power consumption and to increase the overall battery life.

Some of the players of the motion sensor market Honeywell International Inc., Microchip Technology Inc., Robert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated, Analog Devices, Inc., NXP Semiconductors N.V., TDK Corporation, TE Connectivity, and Sensta Technologies, Inc. The global motion sensor market is expected to grow at a compound annual growth rate of 7.42% over the forecast period to reach a market size of US$7.733 billion in 2026 from US$5.034 billion in 2020.

Automobile Segment

The demand for motion sensors is increasing rapidly in the automobile sector because of their extensive usage in the Micro-Electro-Mechanical Systems (MEMS) and the Advanced Driver Assistance Systems (ADAS). The extensive usage of the MEMS technology is resulting in the miniaturization of the motion sensors and can be attributed to the requirement for the detection and prediction of natural calamities including volcanic eruptions and earthquakes. For instance, the State of California has installed an earthquake early warning system that uses motion sensors for the detection of earthquakes. Various applications of motion sensors in the detection of noise, harshness, and vibration indicators are increasing the market demand for motion sensors. MEMS-based motion sensors are also being used in the airbags of various automobile vehicles. For instance, Bosch has already introduced MEMS-based motion sensors to detect any abrupt vehicle deceleration. Thus, the rising awareness for safety and security in automobiles is primarily driving the market of motion sensors. According to World Health Organization (WHO), approximately more than 1.35 million people die in road accidents every year globally and about 50 million people approximately get injured.

Asia Pacific To Grow At Fastest CAGR

Asia Pacific region is projected to grow at the fastest CAGR during the forecasted period. This is majorly attributed to the rapid industrialization, urbanization, and high demand for motion sensors from China, South Korea, India, Japan, and Indonesia. The emergence of the Electronic Vehicles (EV) & 5G and the rise in the manufacturing of electronic devices and equipment such as tablets, smartphones, lighting systems, electronic medical devices, automation equipment, and gaming consoles is augmenting the motion sensor market. For instance, according to the Ministry of Industry and Information Technology China, the number of mobile phone subscriptions per 100 inhabitants in China has increased in comparison to 2018 by 1.96% in 2019. The countries such as Japan and China are regarded as the manufacturing and assembling hubs for the manufactures of consumer electronics such as Sony Corporation and Samsung. Many big enterprises such as Xiaomi and Samsung are investing in the market for sensor technology advancement owing to its adoption of various wearable fitness and health tracking device among various consumers. Xiaomi Corporation launched new motion-activated night light for sale in India in September 2019.

COVID-19 Negative Impact

The outbreak of the Covid-19 pandemic and its subsequent lockdown across the world have impacted every industry majorly due to the disrupted distribution channel. The motion sensor market is expected to be moderately impacted by the pandemic which can be attributed to the halted manufacturing process across the world, unavailability of the raw materials, and disrupted channel of disruptions. Further, the low capital investment and strict regulations mandated by the government have slowed down the market growth of the market. Nevertheless, the rise in the requirement for various consumer electronic devices and medical equipment especially for house security is expected to offset the impact of the pandemic and lead to a gradual increase in the market growth of the motion sensor market. The surging automation and robotics market is further expected to propel the market growth during the forecasted period.

Night Cream – A New Era

The night cream market was valued at US$14.241 billion in 2019. Consumers are separating the use of cosmetics into daily routine, night routine, and during college or work. The night cream has a light base that provides moisture to the skin before sleeping. The night cream has many benefits for the skin such as moisturizing, providing texture, and anti-aging. These features are attracting consumers especially the generation Z towards the night cream. The demand for the night cream is driven by consumers with oily skin type and other factors include the rising requirement for skin repair solutions, increase in the awareness of maintaining the elasticity of the skin and the increase in the pollution is driving the demand of the night cream market.

night cream market

Rapid Product Innovation Is Boosting the Demand of the Night Cream Market

The rising expectations of the consumers is motivating the key players of the market to invest in research and development and to offer new products. For instance, The Ozone group in May 2018 announced the offering of the premium range of the skin products, this shows the potential of the market to grow and expand in the forecasted period. The key players of the market are using ingredients such as alcohol, paraben-based preservatives, and artificial dyes which can result in the side effects like rashes and skin irritation. However, the rise in the awareness of the consumer towards the organic product is also propelling the opportunities of the market players to offer and gain a competitive edge over other market players. For instance, Amway Corporation launched new herbal skin products to be sold in India such as day cream, night cream, and face wash. The aim of the players presents in the market to offer potential the market holds is playing a significant role in boosting the night cream market.

The key players of the industry are focusing on solutions that eliminate the toxicity and impurities from the skin. Solutions include offering the night cream that is specific to the requirement of the consumer’s skin condition and issues faced by oily skin, dry skin, combination skin, etc. The key manufacturers of the night cream market such as Estee Lauder, L’Oréal, and Shiseido Co. Ltd., are focusing and prioritizing the innovation of new formulation developments such as emulsion and vesicular delivery system, to gain a competitive edge in the market over others.  Most of the companies are focusing on the deep moisturizing applications with anti-wrinkle and anti-aging as they key areas which is expected to boost the market in the forecasted period. Tatcha, LLC, a Japan-based beauty company announced the launch of a luminous night cream with ingredients such as purple rice, hyaluronic acid, and Okinawan algae blend in 2019.                  

Recent Market Developments

  • In May 2018, the Ozone group announced the launch of a premium range of skincare products.
  • November 2018, Amway Corporation announced the launch of new herbal skincare products, day cream, night cream, and face wash to be sold in India.
  •  La Roche-Posay launched in 2019, an ultra-night face moisturizer offering hydration and soothing benefits.
  • Tatcha, LLC, a Japan-based beauty company, launched Luminous night cream made from purple rice, Okinawan algae blend, and hyaluronic acid, in 2019.
  • In Dec. 2019, Murad Skincare launched a youth renewal night cream that provides a lightweight finish along with a rich texture.
  • In Dec. 2019, Murad Skincare launched a youth renewal night cream that provides a lightweight finish along with a rich texture.
  • In 2020, L’Oréal launched white perfect night cream, L’Oréal Paris Clinical Overnight treatment and Revitalift night cream with variants of Moisturizing and Laser X3
  • Amorepacific launched all-new water sleeping mask, Water Sleeping Mask EX in 2021 with an enhanced pro-biotics complex to strengthen the skin’s defense

Europe – Key Growth Region

Night creams are rising in demand due to the increase in pollution, increasing awareness of maintaining skin elasticity and rising demand for skin repair solutions. Europe region holds the largest share which is driven by the rise in the demand in the countries such as France, Germany and United Kingdom. For instance, Germany consumes the largest number of personal care and cosmetic products. It is expected to hold a decent share in the night cream market in the forecasted period on account of the presence of the well-established industry and various cosmetic companies such as Beiersdorf AG, L’Oréal SA, Avon Inc. and Shiseido Group across the region. The manufactures in the region are also focusing and innovating the product packaging to expand the usability of the skincare products. The rise in the demand for multi-function products is paving the way for the new entries in the market which is leading to the entry of the new players in Europe regions with their innovative product offerings. The entry of new players and the wide-spread product offering is boosting the demand for the night cream market in the forecasted period.

Breast Imaging Market – Innovations and Awareness

Breast imaging is the radiological technique which uses various technologies for the screening and diagnosing breast cancer and other breast-related diseases in both male and female. These include both non-ionizing and ionizing breast imaging technologies. The rise in the market of breast imaging is mainly driven by the prevalence of the breast cancer in women, investments by the government and others for breast cancer treatment and related research, and the technological advancements in the breast imaging modalities. In addition to this, the rise in the awareness about the breast cancer among the individuals and the companies are helping to spread consciousness about breast cancer and its treatment as a part of Corporate Social Responsibility is aiding in boosting the market growth of the breast imaging market.

breast imaging market

The breast imaging market is well-diversified and competitive that had key players dominating the market on account of their core competencies. Some of the players of the breast imaging market include Trivitron Healthcare, CapeRay, Candelis, Inc., Telerad Tech, Hologic, Inc., Koninklijke Philips N.V., Hitachi, Ltd., General Electric Company, Siemens Healthcare Private Limited. The breast imaging market is projected to grow at a CAGR of 8.93% to reach US$10.818 billion by 2025, from US$6.475 billion in 2019.

Advanced technologies are boosting the market growth

Breast imaging market by procedure has been segmented as Screening Mammography, Diagnostic Mammography, Breast Tomosynthesis, Breast Ultrasound, Brest MRIS’s and Others

New innovations in the breast imaging market are propelling the market and are anticipated to show lucrative growth over the forecasted period. Technological advances include digital mammograms, optical imaging, tomosynthesis, electrical impedance imaging, and molecular breast imaging.  Government interventions include funding for research and development and awareness programs in the field of breast cancer which are expected the market growth of breast imaging.  Besides investment by the government, even foundations are funding in the research and development of the breast cancer. For instance, The National Cancer Institute of the USA had invested approximately $559 million on the breast cancer research in 2013. While in United Kingdom, the government had launched a campaign ‘Be clear on cancer’ in 2013 with an objective of spreading awareness regarding early diagnosis of cancer, preventive measure and risk factors.

New techniques innovated for the breast imaging market are molecular breast imaging (MBI) which is also popularly known as breast-specific gamma imaging (BSGI). The innovation and offerings of new techniques are providing an opportunity for the market players of the breast imaging market to upgrade their product portfolio and offer enhanced machines. These factors are contributing to the market growth of the breast imaging market over the forecasted period.

Geographical Insights

The breast imaging market by region is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to hold a major share in the market during the forecasted period on account of the rising prevalence of breast cancer and the rising death rate due to the breast cancer in both men and women which is encouraging the market players to increase their investment in research and development for better imaging solutions and to make the consumers regarding the breast cancer,  In addition to this, the high adoption of the advanced diagnostic technologies due to the significant per capita annual healthcare expenditure in countries such as USA and Canada, the presence of favorable reimbursement scenario and rapidly expanding geriatric population in the North America with higher prevalence of chronic disorder than the global average are acting as the key factors that is contributing to the growth of the breast imaging market in North America. Whereas, Asia Pacific region is anticipated to witness the fastest growth in the market share in the forecasted period on account on government initiatives and policies to improve the healthcare system and the state of the diagnostic facilities and center which is the governing factors for the market growth of the breast imaging market.

Covid-19 Impact

The outbreak of covid-19 pandemic has affected every industry including the healthcare industry. The pandemic has severely impacted the healthcare industry including breast imaging market as many patients postponed or cancelled their examinations or diagnostics and were only visiting the hospitals when it was absolute necessity due to the fear of getting infected by the coronavirus. Few countries had cancelled breast diagnosis and screening and were only focusing on treating the patients that required more attention. The lockdown was lifted during the last months of 2020 and the activities were resumed then. The laboratories and diagnostic centers had resumed their work with precautions and safety. However, the mammography department are still facing challenges and few centers have launched new diagnosis methods such as tele-mammography consultations.  Thus, the outbreak of covid-19 had an immense effect on the breast imaging market.

Agricultural Biologicals Market – Sustainable Products

Agricultural biologicals are a distinctive group of natural products such as topical or seed treatment products that are derived from naturally occurring micro-organisms, plant extracts, beneficial insects, and other organic matters. It is the fastest-growing segment in the agricultural input market. Biological farming is an environmentally sustainable and economical agricultural production system that encourages the adoption of safe products for the treatment of the crop. This is accomplished by minimizing the environmentally harmful consequences and by using non-renewable natural resources.

agricultural biologicals market

The agricultural biologicals are majorly used for the replacement of the chemicals used in agricultural farming as they are considered relatively safe and not leave the residue on the crop. Besides protecting the crop from pests, weeds, and diseases, it also enhances the overall fertility and productivity of the crops, thereby maintaining the health of the crops.  Farmers are increasingly depending on the agricultural biologicals over the synthetic and chemical fertilizers.  The market of the agricultural biologicals is driven by the rising pest attacks on the crop plantations.  The crops are developing resistance towards some of the products of the plant protection which is positively impacting the market growth of the agricultural biologicals during the forecasted period.

Market Size of the Agriculture Biologicals Market

The rise in the incidence of the pest outbreak in the crops, growing awareness, and surge in the demand for the supreme quality yield from the farm produce, and the development of the pest resistance are some of the primary factors that are augmenting the market growth of the agricultural biologicals market.  Chemical fertilizers and pesticides increase the yield at the cost of the quality of the crop. The exploitation of the environment due to the excessive usage of the chemicals is leading to rise in concern regarding the produce harming the health of the consumers is thus positively affecting the market of the agricultural biologicals. Agricultural biologicals don’t contain chemicals and make the yield healthier and more nutritious. The stringent regulations mandated by the agricultural product regulatory organization on the usage of the excessive amount of chemical or synthetic fertilizers and rising investment by the international market players for the development of the crop protection elements and crop nutrition products using natural references are positively impacting the market growth of the agricultural biologicals market. The government of India mandated the purchase of bio-fertilizers in August 2020 along with the purchase of urea. The government regulation states that for each bag of urea purchased, the farmer has to purchase a bag of bio-fertilizer. The intention behind implementing this rule is to encourage the use of biofertilizers over chemical fertilizers. Rising demand for the organically cultivated food products and untapped potential in the emerging market is expected to offer market growth opportunities.

However, the high cost of trials, lack of safety & regulations, low adoption rate and short-life of biopesticides and the technological and environmental constrains regarding the usage of the biologicals is expected to restrain the market growth of the agricultural biologicals.

Market Growth of Agriculture Biologicals Market

The agricultural biologicals market is segmented by application as soil treatment, seed treatment and foliar sprays. Soil Treatment and Foliar Sprays are expected to hold the significant market share on account of awareness and non-technical usage. Seed Treatment segment of the market is also expected to hold a noteworthy share and to increase at considerable rate on account of growing awareness.  Further the rising demand for food due to the surge in global population which is resulting in the high demand for high agricultural yield, thus, is positively impacting the market of the agricultural biologicals. As per United Nation Department of Economic and Social Affairs, the global population is projected to reach USD 9.8 Billion by 2050.

On the basis of the region, the agricultural biologicals market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Asia Pacific is expected to grow at the fastest region during the forecasted period on account of rapid urbanization, population boom, surge in the health concerns and growing industrialization.

Gowan Company announced its acquisition in March 2021 of all the shares of Piemme S.R.L from its shareholders and Giorgio Basile.

The outbreak of the covid-19 pandemic and the subsequent lockdown had impacted every industry. It had a positive impact on the agricultural biological industry. The lockdown and pandemic forced the government globally to scrutinize their rules and policies and to adopt sustainable measures to reduce the human carbon footprint. Further, the raised security and safety standards are encouraging the consumption of natural, healthy, and organic products for the better immunity and health.

Agriculture Biologicals Market

The increase in the crop productivity through eco-friendly substitute to protect with the biodiversity with the changing global climate is expected to augment the market during the forecasted period. Further, the limited availability of the arable land and increasing chemical resistance among the agricultural products is augmenting the market growth of the agricultural biologicals.  Usually, Synthetic chemical pesticides were used to enhance the produce of agriculture, however, the chemical resistance against the pesticide in pests is global issue leading to major loss of agricultural produces. Bayer AG announced the launch of Vanity Citrus in March, 2021 that targets citrus farm pests and does not generate resistance or any residue in the harvest or environment. This is shifting the attention of the consumers towards adoption of the biologically produces pesticides and other agricultural biologicals. 

Furthermore, the surge in the adoption of the organic farming by both developed and developing regions to reduce the hazardous impact of the chemical fertilizers, pesticides and others are expected to fuel the market growth of the agricultural biologicals during the forecasted period.  Increase investment and favourable support by the government is creating new market growth opportunities for the agricultural biologicals market. For instance, Kerala state inaugurated its first bio-fertilizers and organic manure quality control laboratory in Pattambi in October 2020. The laboratory would help the farmers to resolve their issues by regulating their bio-products along with understanding government policies.

Modernizing the furniture market

Furniture has wide application in the residential and commercial such as in spa, office, clean room, camping, bedroom, outdoor, parks, library, restaurants among other places. Furniture is highly movable with wide applications and can be customized according to the end-users by machine-based processing or handcrafting. The furniture market is driven by the growing hospitality sectors and infrastructure, other factors include changing preferences of the consumers in the developing economies, growing residential and commercial development, and the growth in the organized retail. The rise in urbanization especially in the developing regions, along with the rising disposable income is leading to change in the lifestyle is adding up to the market growth of the furniture market.

furniture market

In addition, the growing investment in smart city projects and infrastructural development is leading to increasing in the number of houses and extra spaces for an office. For instance, the Government of India identified 99 cities to be converted into smart cities throughout the country.  In the Middle East region, the focus of the government on the growing real estate sector is leading to expansion of the residential and commercial construction activities which is projected to boost the market growth in the forecasted period. Thus, the rapid rise in the construction sector due to the impressive economic growth is expected to boost the demand of house and office furniture. According to the Ministry of Housing and Government Affairs, the number of new construction of housing units in India reached 182,861 by 2018 from 125,551 units in 2015.

The manufactures of the furniture market is innovating the market considering various factors such as consumer income, fluctuating urban landscapes, shifting lifestyles and economic factors. However, the lack of skilled labour, the growing cost of production, and cumulative growth of the market is pose a significant challenge and to hinder the market growth of the furniture market.

Market Size of the Furniture Market

The furniture market is highly fragmented on account of various market player in both international and regional players. The booming of the real estate industry is driving the global furniture market, in addition, the increase in the investments by the government in the infrastructural development of the residential and commercial is boosting the demand.  There is an increase in the disposable income which is influencing the consumers to increase their expenditure on the furniture to raise their standard of living. The consumers are trying to meet the market trends by demanding innovative furniture that also functions in the save of the space this further impelling the sale of the branded furniture items in the furniture market. The rising construction due to increasing demand for commercial and residential spaces along with the increase in the middle-class income and government investment in the infrastructure development is among the key factors that will further improve the market size of the furniture market. The increasing number of strategic alliances and partnerships are expected to drive the market growth of furniture market.

The furniture market is continual striving to advance and present the products that will appeal to variety of lifestyle of the consumers globally. The integration of the internet of things in the furniture has substantially reduce the cost of the furniture which is revolutionizing the furniture market. The development and offering of the automated manufacturing system are expected to have a significant impact on the furniture market in the forecasted period. However, the low-cost furniture is also boosting the market growth of the market and the producers of the low-cost furniture such as Vietnam and China are contributing to the growth.

The market in Asia Pacific are experiencing a significant structural revolution due to the factors such as declining tariffs, penetration in the developing economies, expansion of the leading retail chains internationally and the partnerships between the foreign suppliers and large-scale distributors along with improvements in infrastructure and logistics, consequent growth in the demand of the low-price items and the receding per capita expenditure in the developed economies especially during and post-recession. Many key players are launching their own online platform and entering in the partnership with the online retail store to strengthen the network of distribution.

Market Growth of Furniture Market

The market of furniture is driven by the factors such as the growth of the real estate & hospitality industries, rise in the disposable income, and the demand for the premium and luxury furniture from the certain consumer sections. The significant rise in the number of industries, offices, and houses is boosting the market of furniture in the forecasted period. The government is also investing in various countries for the movement towards smart cities. For instance, the government in China has announced an investment of around US$255 billion in 2018 for its Shantytown Redevelopment Project for 6 million housing units. Additionally, in the Middle East, the government policies aimed towards infrastructural development such as the Saudi Vision 2030, UAE Vision 2021, and UAE Vision 2023 in which construction of metros, new hotels and airports is expected to impact the market growth in the forecasted period. The construction and architectural firms in the endeavours are using wooden framing as the environmental-friendly materials to build a ‘Green Building’. Other factors contributing to the market growth include rising disposable income, change in the lifestyle and the expansion of the construction sector. Asia Pacific region is expected to dominate the market of furniture during the forecasted period on account of rapid expansion of the furniture market and the growing per capita income with the presence of developing countries such as India, China and Japan are expected to offer significant market opportunities in the forecasted period.  Further, the rise in the travel and tourism sector globally is leading to the construction of airports and new hotels which is expected to supplement the furniture market in the forecasted period.

Furniture Industry

Furniture supports basic everyday functions such as sitting, eating, and sleeping, currently the furniture is being modernized and is customised to match the consumers’ needs and is considered as an essential element for home décor.  Furniture are widely used in spa, office, clean rooms, camping, bedroom, outdoor, laboratories, and many more places.  The furniture market is shifted to the online channels of distribution, for instance, Pepperfry, Urban Ladder, and FabFurnish, Flipkart are some of the popular online platforms for the purchase of furniture.

The introduction of new species of wood tree used for the manufacturing of the furniture is expected to contribute to the market growth of the furniture globally. The manufactures are continual innovating the furniture to match the expectations by offering a variety of products that matches the preference and taste of the consumers and to capture the market share of the furniture market. The manufactures of the furniture market are trying to meet the rising demand for the multi-functional furniture with various features including a maximum storage facility, stylish design, various storage facility and innovative designs for space-saving is changing the furniture market and is expected to drive the furniture market in the forecasted period. 

Ready-To-Assemble (RTA) furniture is flat-pack furniture which is not assembled by the manufactures and is delivered to the consumers in parts with the instruction manual for the assembling of the furniture. It is gaining traction especially among the homeowners and renters on account of its lower cost and compact designs. Rise in the disposable income is leading to the increasing brand consciousness and expenditure on the furniture goods especially with the aim for home décor are supporting the market growth of the furniture market.

Green Cement Market – A Step Towards Sustainability

Green cement is defined as the form of concrete or cement that is formed to reduce the carbon footprint during the manufacturing process. There has been rise in the awareness about the environment and the consumers are preferring to consume goods that is manufactured with a less global footprint which is driving the demand for the green cement market. The green cement is expected to foresee tremendous revenue growth during the forecasted period owing to the increase in the awareness regarding the use and benefit of the eco-friendly raw material in the construction. Green cement is available by the types of granulated blast furnace slag, recycled aggregates, fly ash-based and others. It is estimated that on average, a single ton of traditional cement releases approximately more than 5% of the total man-made carbon emission globally. The rise in urbanization is leading to the upsurge in the construction activities and the consumers are widely preferring the green building initiatives which is positively influencing the green cement outlook over the forecasted period. The global green cement market is expected to grow at a compound annual growth rate of 11.79% over the forecast period to reach a market size of US$40.916 billion in 2026 from US$20.962 billion in 2020. 

green cement market

Environmental Awareness Boosting the Market Growth

The manufacture using ordinary Portland cement (OPC) are causing 5% to 10% carbon dioxide emissions as it contains toxic ingredients such as chromium and silica. Whereas, the green cement is reducing the carbon footprint by more than half during the manufacturing process and it also uses less water compared to ordinary cement. The rise in the awareness of the environment hazards of OPC production as it requires high temperature for the kiln operation and rising concern for the environment sustainability is driving the market growth of the green cement market. OPC production emits a high volume of greenhouse gas and carbon dioxide which changing the preference of the government, consumers, builders and architects to greener solutions as an important step to tackle the threat of climate change.

Green Cement are widely applicable in commercial, industrial, and residential areas. Due to these reasons, the demand for the green cement is increasing and it is leading to the market growth. European Union during the European Green deal introduced an action plan to convert the environmental and climate challenges to opportunities for making the economy sustainable. This plan included buildings and constructions to make them more energy-efficient. This deal created an opportunity for the green cement and it expected to boost the demand of the green cement during the forecasted period.

Geographical Insights

Green cement by region is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America holds a major share in the green cement market due to the burgeoning investment by the major countries such as Canada, USA and others in the green building construction. For instance, United States Environment Protection Agency (EPA) has set strict regulations regarding the reduction of the greenhouse gases emission which is boosting the market growth of the green cement. Whereas, the phenomenal demand across the Europe region was due to the regulations imposed by the local government and the European Union regarding the carbon emission and the tension related to the taxes on the industrial demand. However, Asia Pacific is anticipated to surpass the Europe during the forecasted period on account of the growing construction activity, the rising investment in the green building, and the government initiatives to control the carbon emission is motivating the consumers to take up the green building initiatives and create sustainable living space.

Covid-19 Impact

The outbreak of the Covid-19 pandemic has negatively impacted all industries including the green cement industry. The demand for green cement contracted due to the lockdown globally. To curb the spread of the virus, the lockdown was imposed globally and which also led to the shutdown of the construction and related work which further affected the green cement market growth. However, in the long run, the green cement market is expected to grow due to the rising environmental concerns and the need for sustainability. The steps are being taken to reduce the carbon footprint which is giving the green cement market an opportunity to revive and reach the pre-pandemic growth. For instance, the government in Singapore has set a target to convert 80% of the buildings to green buildings by 2030.