Rising Automation With Industrial PC

The industrial PC market is expected to grow at a compound annual growth rate of 6.45% to reach a market size worth US$7.756 billion by 2026. This market was valued at US$5.006 billion in 2019. Industrial PC is specially designed computers meant for industrial use only. These PCs have the capability to withstand harsh industrial environments, including vibration, shocks, high temperature, and high humidity. In addition to these capabilities, industrial PCs have a longer life cycle and are technically different from general computer systems.

industrial pc market

Since industrial PCs are special designed for industrial use, they have the capability to handle a variety of tasks, ranging from stock information, monitoring the production line, and others. Owing to these features, these PCs have wide adaption in various industries. However, these PCs are more expensive than general computers which will constrain the market growth during the forecasted period.

The Surging Automation Industry Will Significantly Boost the Market

The industrial PC market is segmented based on end-users industry as IT & Telecom, chemicals, Aerospace & Defense, Semiconductors & Electronics, Energy & Power, Automotive, and others. A surge in automation around these industrial sectors will significantly boost the market. The automotive and electronics Industrial PC markets will grow at an exponential rate during the forecasted period owing to a surge in disposable income and expenditure on these comfort goods.  Technological advancement in IT and telecom with growing technology penetration and increasing demand will boost the IT and Telecom Industrial PC market. The energy and power and aerospace & defense sectors will also show robust growth.

Industrial automation facilitates improvement in production-output rates, improvement in quality and consistency, improving working conditions, reduction in wastes, flexibility in production, reduction in cost, and others. owing to numerous advantages offered by industrial automation, companies in every industrial sector are adopting it. Increasing automation across manufacturing industries for greater productivity will specifically boost the market of industrial PC. A study conducted by the World Economic Forum, in 2019, concludes with the prediction that by 2022, 42% of industrial manufacturing will be automated producing superior products. A study conducted by Oxford Economics in June 2019 forecast that owing to increasing automation in the manufacturing sector, the turnover by the industry will increase by US$4.9 trillion annually till 2030.

The report also extends that such automation would result in 20 million job losses to the automation environment by 2030. The International Federation of Robotics announced in 2020, based on their study, that the use of industrial robots in the manufacturing sector has surged by 12%. Further, the Federal Reserve Bank of St. Louis, the US, observes a 265% surge in robots per thousand workers, from 0.49 robots per thousand workers in 1995 to 1.79 robots per thousand workers in the year 2017.

The High Purchasing Cost of Industrial Pcs Will Constrain the Market Growth During the Forecasted Period

A major constrain faced by the industrial PC market is its high cost. Since industrial PCs are specially designed computers having advantageous capability, the cost of the PC increases with these additional features. This high cost discourages the buyer to install these PCs. While large enterprises may easily raise funds to accommodate industrial PCs in their budgets, small and medium enterprises (SMEs) may not be able to afford these PCs owing to tight budget constraints. World Bank reports that 40% of SMEs in developing economies are unable to meet their financial needs, making them unable to operate at their potential. However, the Industrial PC market must capture the SME group of end-users since SMEs have a large share in the global economy.

The SME sector plays a major role in most of the developing economies while having a significant share in the developed economies. As per data published by the World Bank, the SMEs sector represents around 90% of global business and employees more than 50% of the global labor market. further, in major emerging economies, SMEs generate 7 out of 10 formal sector jobs. In India, SMEs contribute 33.4% of Indian manufacturing output and 6.11% of the Indian manufacturing GDP (Source: Confederation on Indian Industry), making them the backbone of the manufacturing sector of the economy. In Bangladesh, more than 10 million SMEs contribute towards 23% of the GDP and provides 80% of jobs in the industrial sector.

Asia Pacific Industrial PC Market Will Witness the Highest Growth in the Global Economy

The Industrial PC market is regionally segmented as the Asia Pacific region, the North American region, the Middle East and African region, the South American region, and the European region. The North American industrial PC market is expected to dominate the global market during the forecasted period owing to the region’s state-of-art infrastructure and early adoption of technology for better productivity. However, the Asia Pacific industrial PC market will grow at the fastest rate due to the booming manufacturing sector and support from government and international organizations such as the World Bank. The region has observed a mushrooming growth of SMEs which drive the market manufacturing and service sectors. These SMEs are being supported by the regional government bodies to grow and bring in the international market. Further, financial support by international organizations will surge this mushrooming growth.

The World Bank, for instance, incorporated Innovation and Inclusive Financial Project in India for the country’s MSMEs sector (Micro, Small, and Medium Enterprise). Under this project, the organization formulated a credit line of US $500 million to be provided through the Small Industry Development Bank of India (SIDBI). In Bangladesh, the World Bank launched credit lines to finance women's SMEs project by establishing a credit guarantee scheme. Further, regional government training and support policies will increase the adoption of automation in the sector, surging the market size of Industrial PCs.

Covid insights

The analysis report covers in detail the adverse effect of the pandemic and lockdown on the Industrial PC market, globally and regionally.

The Inclining Trajectory of Organic Plastic – Bioplastics Market

Bioplastics are environment-friendly plastic that is derived from organic biomass sources like vegetable oil, agricultural waste, woodchips, sawdust, etc. by employing starch, cellulose, and lactic acid for their production unlike conventional sources like petroleum. Bioplastics, a revolution over traditional plastic forms are environment-friendly, cost-effective, energy-efficient, easily degradable, non-toxic, and reduce carbon dioxide emission. These favorable characteristic factors have led to a rise in adoption and a surge in demand for bioplastics during the forecast period.

bioplastic market

 

Increasing Demand for Plastics With a Sustainable Solution to Drive the Market Growth

Moreover, the utilization of plastic in this day and age is pervasive. Plastic creation and utilization have dominated that of steel, and its interest is developing at a dramatic rate. The manufacturing process of conventional plastic includes the escalated discharge of ozone harming greenhouse gases. Bioplastic, instead, is plant-based and generally biodegradable. Manufacturing of bioplastic does not include the release of these greenhouse gases and exercises the utilization of sustainable and non-exhaustible resources. Furthermore, since it is manufactured from the recovery of by-products, bioplastic essentially positively affects the climate and economy. It saves non-renewable and non-sustainable petroleum products, with the utilization of food squander. Hence, the increasing demand for plastics with a sustainable solution is propelling the growth of the global bioplastics market.

Rising Consumer Adoption of Bioplastics to Lead to Inclined Demand

The consumer acceptance and adoption of bioplastics are further increasing owing to the rising awareness of the ills of conventional plastic fueled by various governmental and non-governmental initiatives across the globe. Under the recent clarion call by the Indian Government to phase out single-use plastic by 2022, the Indian Ministry of Environment is set to organize two-month awareness generating campaign on single-use of plastics in June 2021 highlighting plastic waste management and elimination of identified single-use plastic items.

Favorable Government Regulations to Facilitate the Growth of the Market

Governments and regulatory bodies across the globe are adopting and implementing new policies and regulations like banning or imposing ancillary surcharges on the utilization of traditional plastics in different forms, such as shopping bags, packaging materials, and disposables. These regulations act as the driving factor and incentive for the bioplastics market. U.S. State lawmakers have introduced at least 95 bills in 2019 related to plastic bags. Most of these bills would ban or place a fee on plastic bags. Others would preempt local government action or improve bag recycling programs. Like, New York graced to become the third state to ban plastic bags in 2019  through passing the Senate Bill 1508. The law, which came into effect in March 2020, applies to most single-use plastic bags supplied by grocery stores and other retailers. The law permits individual counties the option of placing a 5-cent fee on paper bags, with 2 cents going to local governments and 3 cents to the state's Environmental Protection Fund. Five other states that enacted such legislation in 2019 are Connecticut, Delaware, Maine, Oregon, and Vermont.

Inclining Utilization for Packaging to Boost the Demand

Packaging is one of the applications that rule the bioplastics market. Bioplastics, and particularly biodegradable bioplastics, have inclining demand to supplant ordinary traditional plastics to address natural concerns. The utilization of bioplastics is expanding in applications like films, clamshell containers, bottles, squander assortment packs, carrier sacks, mulch films, and foodservice products. So, the increasing adoption of bioplastics for packaging purposes is further boosting the market share of the bioplastics market. ‘good natured’ Products Inc., a North American leader in earth-friendly plant-based products, launched Canada’s first innovative assortment of compostable Microwavable To-Go Containers in May 2021 as a viable alternative for businesses faced with the impending single-use plastic ban in Canada by December 2021.

The accessibility of cheaper alternatives and inadequate research and development are the hurdles faced by the market.

Impact of COVID-19 on Bioplastics Market

Limiting waste and natural effect of harmful substances is on the top of the brain for both the buyers and associations, yet simultaneously, the far and wide impact of COVID-19 has prompted higher prerequisites to secure food in supermarkets and expanded interest for take-out from cafés because of moving limitations on in-eatery feasting imposed by the regulatory authorities of various countries. This, along with developing government and corporate orders, is driving interest for inventive sustainable plastic arrangements that do less ill to the planet and human wellbeing.

Increasing Demand for Bio-PE and Bio-Pet

By type, the bioplastic market is fragmented into Biodegradable bioplastic and non-biodegradable bioplastic. Bio-PE (Polythene) and Bio-PET (Polythene Terephalate) are non-biodegradable bioplastics and are expected to develop at a critical rate during the estimated period. PET plastic has higher strength and solidness, alongside being light in weight. Consequently, it is generally utilized in single-utilized plastic containers. Bio-PET is a more creative and maintainable substitute over virgin PET and can undoubtedly supplant it. Global corporates have been utilizing bio-PET containers, substituting virgin PET for lessening the carbon impression. PepsiCo, for instance, has been utilizing Bio-PET containers, since 2011, to convey its soft drinks. But, the significant restraint confronting Bio-PET plastic is that it is non-biodegradable. Polyester and Polylactic Acid (PLA) biodegradable plastic are predicted to hold a vital share in the bioplastic market during the forecast period, inferable from their biodegradable property, alongside wide utilization in the creation of canvas, containers, films, protection for wires, and others. Yet, cost assumes a critical part in challenging the growth of the market.

The Significant Growth Rate in Europe and Asia Pacific Region

The European and Asia Pacific region bioplastics market is expected to grow at a significant rate in the forecast period. The growth of the market in Europe is attributed to the increasing consumption, research, and development in the region along with the robust automotive industry and rising demand for bioplastics for packaging by the manufacturing companies. Moreover, the Asia Pacific market is expected to propel owing to the expanding customer inclinations towards eco-accommodating plastic items with the quickly developing population in the region.

Inclining Growth Trend in the Electroplating Market

Electroplating, also known as electrodeposition, is the process of depositing material using an electric current resulting in a thin layer of metal being deposited onto the surface of the substrate. Electroplating is mainly used to change the physical properties of an object to give objects increased wear resistance, corrosion protection, or aesthetic appeal along with increased thickness.

electroplating market

The electroplating process dissolves metal and deposits it onto a different surface using an electric current. The process operates using four components of anode, cathode, solution, and power source. When the anode and cathode are put in solution and connected, the power supply supplies an immediate direct current to the anode. This current makes the metal oxidize, permitting metal atoms to disintegrate in the electrolyte solution as positive ions. The current then causes the metal ions to attract to the negatively charged substrate and deposit onto the surface in a thin layer of metal. The three factors affecting the quality of plating are bath conditions, part placement, and electric current.

Various Types of Metal, Non-Metal Coatings to Propel the Market Growth

Electroplating is generally utilized in different sectors for covering metal segments with a dainty layer of an alternate metal. Electroplating copper can be amazingly significant in mechanical applications like the assembling of electronic parts and segments, and valuable parts utilized in the aviation and defense sectors. In addition, the utilization of copper is broad in plating on plastics and other non-metallic surfaces. Other copper electroplating benefits incorporate better erosion assurance, remarkable thickness fabricates, and heat handling.

Similarly, nickel is perhaps the most utilized metal for electroplating in an assortment of utilizations where expanded substrate strength and decreased pressure is desired. Sulfate is a kind of nickel electroplating, which is ordinarily used to light up the outside of a substrate and sulfamate. Tinning or electroplating of tin is becoming famous as a cost-efficient option in contrast to plating with more expensive metals like gold, silver, or palladium. The bountiful supply and minimal expense of tin have expanded the ubiquity of tin in different applications across the globe. Tin is generally being utilized because of its incredible insurance against surface consumption, high solderability, and great contact obstruction. Nonetheless, the tin electroplating interaction can prompt tin stubbles or sharp minuscule bulges.

The electroplating market is likewise expected to grow owing to its uses for non-metallic substrates like plastic, which is more difficult than plating onto metal surfaces. All things considered, electroplating non-metals can offer significant advantages in a few mechanical applications. Applying a copper covering onto a plastic surface can permit the segment to direct power. It helps in making the dull plastic item engaging and gleaming metallic-looking. The utilization of covering plastic is generally being embraced in the design industry to give certain fabrics a sparkly appearance.

Rising Demand From Different End-Use Sectors to Drive the Market

Rapid industrialization, combined with high disposable income in emerging economies is boosting the demand for the automotive, electronics, and jewelry industry, which thus is pushing the growth of the electroplating market. The rising interest in electroplating from various end-use sectors is impelling the development of the market. For example, the electrical and hardware industry utilizes copper, nickel, silver, and gold plated parts for different end-use applications to improve attributes like consumption obstruction, wear resistance, solderability, and electrical conductivity.

The Electrical and Electronics Industry to Hold a Significant Market Share

Rapid urbanization and digitization have facilitated the demand for electrical and electronic devices worldwide. The utilization of compact portable devices, like laptops, cell phones, tablets, advanced cameras, camcorders, portable chargers, and wearable gadgets has been expanding at a quick pace because of the improvement in the way of life and ascend in purchasing power of consumers across the globe. Electroplating is a significant process in the assembling of electrical and electronic parts and segments for several reasons. Different metals are used in electroplating in the electrical and gadgets area like gold, silver, copper, palladium, and ceramics. Ceramics have a few remarkable electrical properties that are advantageous in the assembling of different electronic parts and segments. Some ceramic materials go about as semiconductors, while some others display superconductivity. So, the escalated demand from the electrical and electronics industry to grow the market share of the electroplating market.

Environmental Concerns and Regulations Imposed to Hamper the Market Growth

Albeit the electroplating market is developing quickly, environmental concerns identified with this procedure are hampering the development of the market during the forecast period. Electroplating activities, including hefty metals and cyanide, can create outflows of harmful air poisons. Moreover, harmful air toxins and volatile organic compounds are delivered by degreasing and cleaning arrangements. Cyanide is a critical segment of electroplating arrangements that negatively affects the sensory system, heart, and lungs. To check the discharge of destructive synthetic substances and gases that are delivered into the air through the electroplating process, the governments of several nations are imposing some electroplating industry guidelines. This is probably going to be a significant obstruction for the global electroplating market.

Impact of COVID-19 Pandemic

Since the advent of the COVID-19 pandemic, the demand from several sectors, including the automotive sector, has generally dropped, and individual organizations have lost up to half of their fairly estimated worth. This has seriously affected the electroplating market and noticed a diminishing demand from different mechanical applications. Moreover, the closure of several production facilities or the impermanent stop of activities has likewise added to the deficiency of creation. The conditions have constrained acquisition pioneers to assume an essential part in diminishing supply network hazards, limiting expenditure, improving efficiency in processes, and making conclusive options that will assist the business with getting fruitful with a more adaptable and serious expense base. On the flip side, the rise in demand from the electronics sector due to the work from home culture and online education systems have positively affected the demand. So, despite the advent of the pandemic, the market is expected to recover at a significant pace in the forecast period once the crisis dissipates.

Asia Pacific Region to Dominate the Electroplating Market

The Asia Pacific region is predicted to hold a significant share in the market attributing to the high manufacturing and demand of consumer electronics, combined with rapid industrialization in significant emerging economies and the presence of fundamentally enormous production enterprises in significant nations like China and India among others. Besides, a huge automotive producing base in nations like China, India, and Japan is likewise adding to the significant demand for electroplating in the region. Inclining investments for the development of manufacturing industries will consecutively add to the development of the market in the Asia Pacific region in the forecast period. North America and the European area are additionally projected to have a vital share in the market inferable from the grounded framework and the presence of significant players in the market.

Changing Trends in the Data Center Colocation Market

The Data Center Colocation market is worth $43,838.252 million for the year 2019 and is expected to grow at 13.84% CAGR to reach a market volume of US$108,612.767 million by 2026.

Datacenter colocation is the method of co-housing privately owned servers and networking equipment in a third-party data center. Instead of housing servers within the premises of the organization, colocation allows organizations to co-locate by renting spaces in a colocation data center. The central difference between colocation data centers and cloud computing is the way data is stored and managed. The primary outlining difference is of having physical assets versus virtual ones. Moreover, services provided by colocation data centers include physical space, storage, power, cooling, and physical security for servers. Further, networking equipment of other third-party orgasmatron assists in connecting to a variety of telecommunications and network service providers efficiently and at a cost-effective rate. Colocation providers offer services to a wide range of customers from small-scale enterprises to large multinational companies. A colocation data center can be classified into two categories, retail and wholesale. However, a new third type of colocation facility has garnered significance, a hybrid cloud-based colocation center.

data center colocation market

Data Center colocation proves to be useful for any enterprise, of any size and any type. The main driver in the data center colocation market is the uptime facility provided by the data colocation centers. It guarantees an enterprise percentage if uptie without charging any significant maintenance charges. Furthermore, it assists in mitigating risk in the event of a disaster by offering complex layers of redundancy offered at data center colocation. Besides, data colocations centers have superior security measures such as cameras, biometric readers, and check-in desks to ensure absolute security at the centers. Additionally, one of the most significant advantages of using a colocation data center is that they offer cost-effective data center solutions in comparison to managing an in-house data center. Additionally, the colocation data center provides significant benefits such as bandwidth solutions, support and certification, and scalability which aids in augmenting demand for such types of data center solutions. Overall these benefits aid in propelling growth in the data center colocation market. However, fluctuating monthly and trouble finding a colocation data center in the vicinity can hamper the growth in the market. Moreover, data colocation centers are not suitable for businesses with a large quantum of expanding data.

Prominent players in the Machine Condition Monitoring market are Equinix Inc., Telehouse, Rackspace US Inc., Colt Technology, Services Group Ltd., CenturyLink, Internap Corporation, Anexio Inc., and Zayo Group LLC among others.

The Growing Need for Data Center Colocation Solutions for SME's Will Drive the Market Growth

The key developer in the market is the increasing demand for data colocation solutions for Small-medium enterprises. Moreover, the rising adoption of technology in small-medium enterprises is driving demand for the data colocation market. The rising numbers of operations of SMEs are further bolstering growth in the market and are making a significant economic impact. SMEs are restoring to collocated data centers for saving cost, as it allows them to outsource the data center operations without incurring any significant cost of setting up a data center. Furthermore, Data colocation centers provide SMEs with several benefits including lower power requirements, availability of data floor space, cooling, and others, thereby reducing the cost of operations for SMEs. Additionally, data colocation centers provide physical protection along with absolute command over their equipment. Hence, SMEs with financial constraints can opt for these cost-effective collocated alternatives.

Trends in Data Center Security Market by Region:

Key market players around the world have adopted various business strategies to sustain, grow and develop in the data center colocation market. Various business strategies such as partnerships, acquisitions, mergers, and other related commercial agreements have been employed by organizations with the aim to develop and provide services to a large section of consumers worldwide. Through such collaborative agreements, the North American region has resulted in the notable development of the market on the whole.

The North American region endures a significant market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by the large presence of data centers and owing to the rapid adoption of advanced data center comprehensive solutions. For instance, Telehouse America recently announced best in class physical security layer upgrade for its New york-based data centers. Similarly, Evoque, a mid-size data center provider announced plans to enter into Hybrid cloud-based colocation centers.

However, the APAC region is estimated to grow at the fastest rate and dominate the market over the forecasted period. The major driving factor is the increasing adoption of technology and mushrooming of small and medium-sized enterprises. Besides, increasing data traffic in countries like China, India, Japan is estimated to further propel growth in the market. For instance, NTT announced data center expansion and aims to spread its operations across 160 countries. Similarly, Equinix extended its digital edge with the launch of its Equinix Fabric at the CA1 Canberra data center.

COVID Insights

The outbreak of the novel coronavirus disease positively impacted the data center colocation market. Owing to financial slowdown globally, the companies intend to outsource operations to minimize their financial constraints. The imposed lockdown severely impacted businesses around the world, thereby negatively impacting their financial outlook. Hence, instead of installing in-house data centers, which require huge costs, businesses are looking at third-party vendors for data center solutions. Thus, increasing demand for colocation data centers and further propelling growth in the data center colocation market. For instance, DuPont announced the acquisition of immediate, a provider of colocation and management services.

Progressing Trends in the Electroplating Market

The Electroplating market is worth $13.052 billion for the year 2019 and is expected to grow at 2.92% CAGR to reach a market volume of US$15.960 billion by 2026.

Electroplating is also known as Electrodeposition or electroplated coating is a process of coating metal using a thin layer of another metal through the process of electrolysis. The process is carried to improve metal's corrosion resistance. The central purpose of electroplating is to change the physical properties of an object. The change in physical properties provides aesthetic appeal, corrosion protection and increased wear resistance to the object. Also, electroplating is carried out for electroplating is to improve the appearance and special surface and engineering & mechanical properties of the metal. The most commonly used metal in the process of electroplating is copper, nickel, gold, silver, chrome, zinc, tin, rhodium and aluminum among others.

electroplating market

The growing demand in the market can be attributed to the increasing demand for metal finished consumer goods. Other factors that are playing an integral role in augmenting the demand in the market include the rising adoption of electroplating solutions across industry verticals such as aerospace, automotive, defense etc. Moreover, the advent of Industry 4.0 has augmented demand in the electroplating market. For instance, ARCI has developed a new friction-reducing composite that could provide an excellent combination of wear and corrosion resistance through the use of electroplating processes. The new composite focuses on delivering solutions to the automotive and defense sectors. Growing demand and technological innovation in the industry are anticipated to propel growth in the electroplating market.

However, growing environmental concerns over waste produced during electroplating processes are estimated to hinder growth in the electroplating market. Moreover, government regulation concerning the emission of harmful gases and chemicals are expected to further hamper growth in the market. For instance, according to the United States environmental protection agency (EPA) guidelines, the department has promulgated the electroplating regulation (40 CFR part 4130 in 1974 and amended it 1977, 1979, 1981 and 1983. Owing to growing environmental concerns and government regulations are forcing companies to look for clean technology alternatives. For instance, through the funding of the US Defense Department's Advanced Research Projects Agency, various alternative are being adopted towards various alternative including PVD, plasma Nitriding, high-velocity oxyfuel(HVOF) and laser cladding by OEMs for rebuilding worn components. Furthermore, growing environmental concerns and resultant impacts on health have remained the primary concerns of end-user industry manufacturers.

Prominent players in the Machine Condition Monitoring market are Atotech Deutschland GmbH, Allied Finishing Inc., Peninsula Metal Finishing Inc., Kuntz Electroplating Inc., Pioneer Metal Finishing, LLC and Roy Metal Finishing Company, Inc. among others.

The Surging Demand and Increasing Use of Electroplating Solutions in the Automotive Industry Segment Will Drive the Market Growth

Growing demand for automotive products such as passenger automobiles, commercial vehicles, pickup vans and sport utility vehicles is expected to drive demand in the electroplating market. There has been an increased application of electroplating solution across the automotive industry. Electroplating is commonly used as an industrial application for the refurbishment of old chrome parts such as bumpers, grills and tire rims to make them look brand new. Moreover, the growing requirement for exceptional corrosion performance of decorative multilayer in automotive decorative plating is expected to boost demand electroplating market. Growing demand in the automobile industry is thereby boosting growth in the electroplating market. Also, the rising adoption of electroplating in the automotive industry for coating purposes with rustproof and non-corrosive materials is further expected to propel demand in the electroplating market.

Trends in Electroplating Market by Region:

Distinguished market players around the world have adopted various business strategies to sustain, grow and develop in the electroplating market by applying varied business solutions across business verticals including automotive, aerospace & defence, and electrical &electronics among others. Leading corporations such as Atotech Deutschland GmbH, Allied Finishing Inc., Peninsula Metal Finishing Inc. etc. have undertaken various business strategies including partnerships, takeovers, mergers and other related commercial agreements to develop and provide innovative and sustainable solutions across varied business verticals worldwide. Through such collaborative agreements and innovative practices, the North American region has resulted in the considerable development of the market on the whole.

The North American region endures a notable market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by rapid urbanisation and the increasing production of consumer electronics. Furthermore, the presence of leading market players in aerospace, defence and automotive industry verticals are expected to further boost demand in the market over the forecasted period.

Whereas, the APAC region is projected to grow at the fastest rate and dominate the market over the forecasted period. The growth in the region can be attributed to the growing use of electroplating solutions across industry verticals such as automotive, electronics, aerospace and medical among others. Moreover, growing consumption and production in countries like Japan and India is expected to further propel demand in the market. For instance, Gallium Arsenide (GaAs) foundry has announced orders for multiple solstice electroplating systems from the leading provider of advanced semiconductor plating and surface preparation system, ClassOne technology.

COVID Insights

The novel coronavirus negatively impacted the electroplating market. The pandemic has impacted economies and industries across the world owing to nationwide lockdowns, shortage of raw materials, labour and associated travel bans. The chemical and materials industry has been significantly impacted by major disruptions across business operations. Furthermore, owing to the pandemic, the electroplating market faced a major setback as offices, factories were forced to shut down which brought about breakages in supply-chain and related logistic disruptions.        

Advancements in the Surgical Lights Market

The Surgical Lights market is worth $734.793 million for the year 2019 and is expected to grow at 5.75% CAGR to reach a market volume of US$1,086.111 million by 2026.

Surgical light is a medical device widely used by doctors and surgeons in various operative procedures. Surgical lights aid by providing needed illumination at varying depth of incision and body cavities during the surgical procedure. Surgical lights are also known as operating lights or surgical overheads. Surgical lights serve the purpose of providing optimal visualization and hours of bright light without harming the patient or staff through the excessive heat generated by lights. The setup may consist of a single or multiple light head assembly attached to a suspension arm. Besides, the type of lamps used in surgical light equipment includes tungsten, quartz, xenon halogens and LEDs. Furthermore, According to a WHO report, surgical lights can be classified by mounting configuration as ceiling-mounted, On Floor stand and Wall mounted.

surgical lights market

Moreover, the LED segments in the surgical market hold a dominant share in the market application. The dominant market share can be attributed to the long term cost reduction benefits provided by the LED segment. Besides, LED lights offers the highest quality and adequate intensity of illumination, which further inclines usage towards  LED lights in medical procedures. Also, the growing demand in the market is motivating market players to offer innovative and technological advancements in surgical light solutions. Further, the introduction of novel LED surgical light solutions have provided a comparative advantage over the halogen segment as they offer significant operational benefits over the latter.

Similarly, surgical lights are used across various medical segments such as Cardiac Surgery, Neurosurgery, Oncology, Gynalogical and ENT Surgery among others. Additionally, surgical lights serve an integral role in hospitals, ambulatory surgical centres and other related medical clinics. Hospitals hold a significant market share for surgical lights owing to growing investment in hospitals and medical institutions, exponential growth in healthcare infrastructure in emerging economies such as India, China and Saudi Arabia among others. However, Ambulatory surgical centres are estimated to witness notable growth in the adoption of surgical lights over the forecasted period owing to the cost-effective medical facilities offered by ambulatory centres.

Prominent players in the Machine Condition Monitoring market are Hill-Rom Services Inc., Stryker, Getinge AB, Steris PLC, Skytron, LLC and Integra LifeSciences Corporation among others. In recent market developments, Steris PLC announced the acquisition of cantel medical in a $4.6 billion deal.

The Rising Number of Surgical Procedures and Expansion in Health Care Infrastructure Will Drive the Market Growth

The rising number of surgical procedures globally is leading to increasing demand in the surgical lights market. The growing number of surgical procedures coupled with increasing regulatory approvals for operating rooms are expected to offer better facilities for patients and augment the demand in the surgical lights market over the forecasted period. The growth in the surgical lights market can be attributed to an increasing number of accidents, chronic illnesses and the growth of the geriatric population. The growing need for surgical procedures is supported by incased product availability, accessibility for healthcare facilities and burgeoning demand for advanced health care infrastructure by healthcare professionals is expected to further drive demand in the surgical lights market. Furthermore, the development of health care facilities across emerging economies is a major factor driving the demand in the surgical lights market. The development of healthcare facilities in emerging economies can be attributed to an influx of investment by private players through PPPs or direct buyouts. Besides, supportive government initiatives are further augmenting growth in the surgical light market.

Trends in Surgical Lights Market by Region:

Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the surgical lights market by applying business solutions across various hospitals, clinics and ambulatory surgical centers among others. Leading corporations have employed various business strategies including partnerships, takeovers, mergers, and other related commercial agreements to develop and provide innovative and technological advanced services to the medical community worldwide. Through such collaborative agreements and innovative practices, the North American region has resulted in the considerable development of the market on the whole.

The North American region endures a notable market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by the rapid adoption of technologically advanced LED lights and growing investment by the private and the public sector in the surgical lights market. Moreover, due to the presence of well-established healthcare infrastructure and rapidly ageing population in countries like the USA, Canada, the market is estimated to further propel growth in the market over the forecasted period. Additionally in the USA, the use of surgical light/lamps is governed and regulated by FDA. Whereas, the APAC region is anticipated to grow at the fastest rate and dominate the market over the forecasted period. The major driving factor is rapidly advancing technological healthcare solutions and increasing demand for better healthcare facilities in the region. Also, the booming medical tourism industry in the Southeast Asia region is expected to further augment the demand in the market. 

COVID Insights

The novel coronavirus negatively impacted the surgical lights market. The outbreak of the novel coronavirus has impacted every industry including healthcare. The COVID-19 led lockdown led to a shift in priority towards COVID patients, thereby affecting the surgery-associated market for patients dealing with chronic illnesses and patients requiring surgeries. In the majority of countries owing to the pandemic, a significant number of hospital wards were transformed into COVID wards, thereby significantly impacting and reducing the number of dental, gynecological, cardiovascular, and other types of imminent surgeries. The decline in the number of operative producers resulted in a reduction in the use of surgical devices such as surgical lights.

                                                       

Pressure Sensor Usage for Novel Innovative Solution

The Pressure Sensor Market is estimated to reach a market size of US$4.896 billion by the end of 2026. The market was worth US$3.183 billion in 2019 and is anticipated to grow at a CAGR of 6.35%.

A pressure sensor is a device consisting of a pressure-sensitive element which helps in determining the actual pressure applied to the sensor using varied working principles and some component that aid in converting this information into an output signal. Pressure Sensors are used in measuring physical quantities such as length, force, temperature and convert the measured data into an electrical or an optical signal. There are different types of pressure sensors including pressure transmitters, pressure transducers and pressure switches which are applied to perform varied task across business verticals. The use of pressure sensors depends upon the material and application for which the pressure needs to be measured.

pressure sensor market

Furthermore, pressure sensors are widely used in process applications such as hydraulics, pneumatics. Additionally, it supports the GPS application solutions and aids in calorie expenditure estimation task. Besides, it is also used by hearable manufactures, wearable’s and in the functioning of high-performance smartphones. Recently, Korean electronics giants, Samsung announced the development of a stretchable heart rate monitoring skin patch which operates on an integrated stretchable OLED display and a photoplethysmography (PPG) sensor.

Pressures sensors are employed across various business verticals and industries. Pressure sensors are used in everyday applications as well as in specialist operations across specific business verticals. Also, Pressure sensors can be tailored to meet industry requirements across business operations including vacuum operations, chemical applications, ATEX Certified areas and high-temperature areas. As pressure sensors are classified into different categories including pressure switches, pressure transducers etc.

Pressure switches also known as pressure gauges or static switches are available with either one port or two ports. Pressure switches have a wide range of applications across industries including Alarm systems on HVAC boiler system controls, varied use in medical breathing apparatus and liquid dispenser in coffee machines. Furthermore, pressure switches are used in monitoring oxygen levels in pressure tanks in the medical industry and are employed to monitor water levels in household appliances such as washing machines. Whereas, pressure transducers are more complex sensors as compared to pressure switches. Pressure transducers are used in breaking mechanism in automobiles such as long railway locomotives. Also, they are widely used in motorsport applications and as industrial gauges in measuring vacuum pressure.

Furthermore, they are employed in refrigeration systems, robotic applications, off-road construction processes, agriculture applications and automation. For instance, Valeport, a leading manufacturer of oceanographic and hydrographic has launched new sensors for Subsea surveys and ROV operations. The product houses interchangeable pressure transducers which aid in delivering enhanced accuracy for specific depth ranges.

Prominent market players in the Pressure Sensor Market include TE Connectivity, General Electric, Emerson Electric Co., Robert Bosch GmbH, ABB, Denso Corporation, Siemens AG and Omron Corporation among others.

The surge in the Automobile and IT industry is estimated to significantly contribute to the growth of the pressure sensor market.

Main drivers in the pressure sensor market include the rise in the use of pressure sensory in the automotive industry and a surge in demand for pressure sensors in the IT industry. The automotive industry holds a notable share in the pressure sensor market. Pressure sensors are employed for various purposes in the automotive industry including engine optimization, emission control and safety enhancement. The increased deployments of pressures sensors in the automotive industry are estimated to augment demand over the forecasted period. Moreover, rising environmental and safety concerns in the automotive sector is further enhancing demand for sensors in the market, thereby augmenting growth in the pressure sensor market.

The growing demand in the automotive industry is forcing market players to undertake various expansion strategies. Similarly, the growing use of pressure sensors in the IT industry is burgeoning demand in the market. IoT technology provides internet and networking capabilities across all applications using electronic software and sensors to connect to a common network. Moreover, IoT incorporates the use of various sensors including proximity sensor, temperature sensor and absolute pressure sensors across industry applications. Thereby, the Major adoption of sensors in the IT industry is further expected to drive demand in the pressure sensor market.

The North American Region Is Projected to Hold a Notable Share of the Market

The Pressure market is fragmented by varied application across different business verticals and industries. Organisations have instilled various innovative techniques of pressure sensor for the production of various product segments across various business verticals.

Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the global pressure sensor market owing to the highly competitive nature of the market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements and have made innovative technological advancements towards delivering unique solutions and thereby attracting more players into the market. Through such collaborative agreements and technological advancements, conglomerates and other allied agencies in the North American region have resulted in significant development of the market on the whole.

The North American region holds a dominant market share and is projected to grow at a decent CAGR over the forecasted period. The major driving factor is the rapid adoption of automation across industries in the region. Also, growth in the region can be attributed to the increasing adoption of automation solutions for smart offices and smart homes. Moreover, the region has witnessed rapid adoption of technological solutions in the healthcare industry as compared to any other region. Growth in the automation segment is expected to further propel demand in the pressure sensor market in the region.

Furthermore, supportive government policies in automobile safety are further estimated to boost demand in the pressure sensor market. For instance, the US government has passed the TREAD act which mandates the use of tire pressure monitoring safety(TPMS ) in every automobile to alert diver about the under inflation of automobiles within minutes of its detection. Besides, owing to the wide range of applications of the pressure sensor and the availability of large scale opportunities are expected to augment growth in the pressure sensor market in the region. For instance, Emerson Electric recently introduced the Rosemount 550PT Pressure Transmitter, a single-use pressure instrument that aims to support life science manufacturers in reducing time to market. Similarly, TE connectivity introduced a new multi-parametric oil quality sensor, OPS3 that aims to oil condition monitoring in heavy equipment and hydraulic systems.

Fatty Alcohol Market on the Rising Path

Fatty alcohols are usually high-molecular-weight, straight-chain primary alcohols having varied precise chain lengths with the source. Fatty alcohols transpire as primary or secondary alcohols comprising alkyl chains with unsaturated bonds or methyl branching groups. It is a distinctive group of Oleochemicals that are derived from natural fats and oils. Some commercial fatty alcohol examples are lauryl, stearyl, and oleyl alcohol. Fatty alcohols are widely used in a number of industrial and domestic applications from personal care to lubricants.

fatty alcohol market

 

Expanding Demand in Surfactant-Based End-Use Industry to Boost the Market Growth

Market infiltration of organic fatty alcohols has ascended in surfactant-based markets, like personal care, cosmetics, and cleansers. Because of the advent of the COVID-19 pandemic, there is expanded awareness in regards to the utilization of home cleansing and personal care items. The interest for surfactant-based items, like cleansers and washing detergents, has risen fundamentally. The demand for cleansers, hand sanitizers, and other personal care items is expanding as a prudent step against the spread of the virus. Fatty alcohols are fundamental antecedents for the manufacturing of surfactants, which are delivered from fatty alcohol ethoxylates and sulfates. Fatty alcohol ethoxylates are non-ionic surfactants that are broadly used in cleansers utilized for homegrown and industrial applications. Fatty alcohol-based surfactants are utilized as cleaning and wetting specialists in agribusiness, cosmetics, and mash and paper manufacturing. The fundamental use of these Fatty alcohol surfactants in the fabric and cosmetic businesses is as a solubilizing and emulsifying specialist. These alcohol surfactants are utilized as lipophilic solubilizers in the drug business for lotions and treatments. These capacities and properties of fatty alcohols are estimated to push the demand in the homecare and personal care industry.

Biodegradable Characteristic to Facilitate Increased Adoption

Fatty alcohol, up to C18, is biodegradable while surfactants work with the utilization of fine-grained dye pigment, diminishing the remaining amount and consequently is climate cordial. Also, long-chain fatty alcohol, which is separated from plant waxes and bee waxes, has been demonstrated to diminish plasma cholesterol in people. So, changing consumer inclinations are seen to boost the interest in bio-based synthetic substances. Buyer mindfulness concerning the effect of unsafe petroleum-based products on the climate has expanded dramatically over the previous years. Developing ecological concerns are urging customers to utilize environment accommodating items. Such factors are prompting chemical producers to utilize bio-based inputs to fabricate their items.

Growing Demand From Industrial & Domestic Cleaning Segment to Drive the Market

The industrial & domestic cleaning fragment is becoming quickly inferable from improved ways of life and an expansion in the buying power equality of low-income population in developing economies in the Asia Pacific and South America. Besides, the demand for industrial & domestic cleaning is expanding as it utilizes fatty alcohols as a froth regulator, emollient, antistatic specialist, and a pacifier in powders and fluid items, to keep a better and more secure environment. So, the rapidly growing demand from the industrial & domestic cleaning segment is further driving the growth of the fatty alcohol market.

Inconsistent Prices of Inputs and High Operating Cost Restrain the Market Growth

Fatty alcohols are produced from inputs like fat, palm oil, rapeseed oil, and others. Different economies in the Asia Pacific, for example, Indonesia and Malaysia are significant producers of these inputs. Different districts including North America and Europe are reliant upon the Asian nations to source their inputs. Consequently, vacillations at the expense of inputs are subject to the trade exchange situations in these economies. Also, recently imposed limitations on the import of refined palm oil in India will additionally go about as an impediment in the development of the market. Moreover, the fundamental factor restraining the growth of the market is its high operating expense. The technique for extraction includes the recuperation of dissolvable and diminished alcohol utilizing the refining strategy, which entails the utilization of metallic sodium, which expands the operational expense of extraction. Also, intricate, and explicit hardware is needed to recuperate both, dissolvable and diminishing alcohol, which further builds the expense and technicality, henceforth restraining the market of fatty alcohol.

Impact of COVID-19 Pandemic

The advent of the COVID-19 pandemic on the fatty alcohol market is attributed to the disruption caused in the manufacturing industries. The unexpected events of the pandemic have constrained significant organizations, for example, Wilmar International Limited, Kuala Lumpur Kepong Berhad, Musim Mas Holdings, Godrej Industries Limited, and Procter & Gamble had to briefly close down their manufacturing facilities to control the spread of this infection. This shut down of manufacturing units has seriously affected the market players' sales and market share. Lockdown in a few nations has prompted a considerable decrease in manufacturing volume. Limitations on the transportation of materials have made created disruptions in the supply chain networks globally. Attributable to the above factors, the demand during the crisis decreased. However, this decline is temporary, and the market is expected to recover in the forecast period once the crisis has dissipated.

Asia Pacific Market to Witness Significant Growth

Asia Pacific region has a significant market share of the fatty alcohol market and is expected to grow at a steady rate attributing to the inclining demand from the cosmetics, personal care, and surfactant companies. The market is anticipated to develop at the quickest rate during the estimated period, inferable from fast industrialization in the region. It is set apart with thriving manufacturing industry, including cleansers, FMCG, and industrial cleaning. Besides, the presence of significant market players in these emerging economies additionally assumes an urgent part. Further, fast urbanization and increasing purchasing power additionally drive the market in the region. Likewise, the developing furor of personal care, cosmetics, and skincare items alongside modest and advantageous accessibility boosts the growth of the fatty alcohol market.

Shifting Trends Transforming the Apiculture Market

The Apiculture Market is estimated to reach a market size of US$11.015 billion by the end of 2026. The market was worth US$8.943 billion in 2019 and is anticipated to grow at a CAGR of 3.02%.

Apiculture is a kind of occupation that involves nurturing and managing beehives by applying various scientific and commercial techniques. The process of apiculture involves acquiring various bee products including beeswax, honey, royal jelly, flower pollen and bee pollen among others. Moreover, Apiculture is not just limited to keeping hives and harvesting honey, it also involves setting up of suitably located and constructed hives and making sure there is a sufficient source of nectar for the bees.

apiculture market

Further, apiculture aids in processing the harvested liquid honey after it has been taken from the hives. The place where beehives are stored and managed for further processing of honey, wax, and pollen etch is known as an Apiary. Furthermore, the growing awareness concerning the health benefits of honey have made it popular and are projected to surge demand in the apiculture market. Also, supportive government policies and initiatives are expected to promote beekeeping, thereby boosting demand in the apiculture market. Moreover, the growing application of honey as an artificial sweetener is further anticipated to boost demand in the apiculture market over the forecasted period.

Apiculture plays an integral role in various industries and everyday food customaries. In the food and beverage industry, honey is one of the most preferred products for beverage brewing and sporadic serving on special occasions. Also, honey serves as an integral component in cultural ceremonies across the world. For instance, in Egypt, honey is used as a beauty product and medicinal supplement. Overall, honey has extensive advantages across industries and countries, thereby augmenting demand for the apiculture market globally. Moreover, honey is perceived as a nutritive and enjoyable food product worldwide. Honey is either consumer as a whole or is accompanies as a supplement with other products.

Moreover, honey is used as a nutritional supplement as it serves as an important source of food for impoverished children. Besides, bee products such as royal jelly, pollen are highly fancied among customers owing to their high protein value. Apart from its significant importance across industries, Apiculture plays an integral role in rural livelihoods. Beekeeping is a small scale but widespread occupation that spans various sectors including forestry, horticulture, agriculture, natural environment and animal husbandry among others. Furthermore, through the engagement of apiculture applications across various sectors, apiculture plays an integral role in poverty alleviation. Apiculture helps in poverty alleviation by enabling people to engage in people in the practice of selling raw materials, harvesting, marketing and production of secondary products, thereby effectively strengthening people’s livelihoods and alleviating poverty.

Prominent market players in the Pressure Sensor market include The Best Bees Company, Dadant & Sons Inc., Betterbee, Dabur India Limited, Seldom Fools Apiculture, Miller Honey Farms and Mann Lake Ltd. among others.

The Growing Consciousness About the Benefits of Honey and Government Incentives to Surge Growth in the Apiculture Market

One of the integral reasons supplementing growth in the apiculture market includes a growing awareness of the benefits associated with the consumption of honey. According to the US National Library of Medicine, Honey is not only used as a nutritional product but also in healthcare as traditional medicine or as an alternative treatment for clinical condition including wound healing and cancer treatment. Also, honey aids in reducing the risk for cardiovascular diseases, stroke, heart attack owing to its richness in antioxidants. Moreover, honey helps in reducing LDL cholesterol while increasing HDL cholesterol which is considered integral in reducing heart diseases. Overall, these combined advantages associated with the consumption of honey are expected to boost demand in the apiculture market.

Moreover, lemon honey water has garnered significant prominence over the recent years as a remedy for detox, weight loss, clear skin, thereby leading to burgeoning demand in the apiculture market. Whereas supportive government policies and incentives are further expected to augment the demand in the apiculture market. For instance, The Ministry of Agriculture & Farmers Welfare, Department of Agriculture Cooperation & Farmers Welfare, Govt. of India had instilled in the Bee Board intending to develop beekeeping and improving crop productivity. Also, the schemes aim to provide free of charge training for apiculture. Additionally, the scheme aims to provide financial support to beekeepers to double their income by 2024. The support of governments through various schemes and initiatives are expected to promote apiculture and is anticipated to boost demand in the apiculture market.

Regional Trends in Apiculture Market:

The Asia Pacific Region Is Projected to Hold a Notable Share of the Apiculture Market

Apiculture is fragmented by varied applications across different business verticals and industries. Organisations have instilled various innovative apiculture techniques for the production of various product segments including honey, beeswax, propolis, and live bees across various business verticals.

Prominent market players around the world have fostered various business strategies to sustain, grow and develop in the Apiculture market owing to the highly competitive and diverse nature of the market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements towards delivering cost-effective solutions. Through such collaborative agreements and technological advancements, conglomerates and other allied agencies in the Asia Pacific region have resulted in the notable development of the market on the whole.

The Asia Pacific region holds a dominant market share and is projected to grow at a decent CAGR over the forecasted period. The growth in the market can be majorly attributed to the growing awareness among consumers about the increasing benefits of honey. Moreover, the growing awareness has led to growth in demand in emerging countries such as India, China which is further estimated to propel growth in the apiculture market. Also, China is a leading producer of honey in the world, thereby burgeoning growth in the apiculture market in the region.

Moreover, supportive government policies and initiatives in the region are expected to further augment the region. For instance, in 2019, the Indian government launched the Sweet revolution or honey revolution to increase the promotion, development and production of honey and other related products. The scheme also aims to boost local farmer’s income through the sale of honey related products. Similarly, several organisations have been established in the region to support the growth of the Apiculture industry. For instance, the Asian Apiculture Association was established in 1993 to promote the exchange of scientific and general information regarding the apiculture industry in Asia.

Data Monetization: Using Data to Increase Revenue

Data monetization is defined as a form of monetization and an act of generating the measurable economic benefits from the available data sources. Data generated by the organization and companies are being used to create economic benefit or convert the corporate data to currency. These currencies are available in various forms of data currency or actual currency which are being used as the means of exchange of data, product or service. Data monetization is sharing of the data between the companies and using it to generate revenue or create new revenue-generating streams.  Data monetization control the data generated from various business operation, content or electronic device or sensors being used by the IoT devices.

data monetization market

Some of the players of the data collection market are 1010data, Accenture, Adastra, Adstra, Dawex Systems, Elevondata, EMU Analytics, Gemalto NV, Infosys, Monetize, IBM, Google, SAP, SAS. The global data monetization market is expected to grow at a compound annual growth rate of 6.02% over the analysed period to reach a market size of US$278.234 billion in 2026 from US$184.778 billion in 2019.

Rise in Demand for Data by the Organization

The rising in internet penetration and number of users of the internet around the globe is becoming the primary source for the institutions to gather information in an economic and time convenient way. The amount of available information and data are increasing along with the surge in the number of users are allowing the organization to collect data such as reviews, opinion, experiences, feedbacks, and complaints to enhance their business operations. The faster and speedier connectivity enable analysis and editing and rising cloud computing have huge potential for the data monetization market. The data can be monetized directly by selling the raw data or taking insights from the analysed or processed data. The big giants such as Google are monetizing data through real-time bidding and is continuing to optimize their platform experience by the reinvesting data into their platform. The small and medium enterprises (SMEs) are increasing adopting cloud computing.

According to the World Bank report, 17% of the global SMEs are using the public platform for cloud computing and 11% of the global SMEs are using private cloud services. The rise in the volume of enterprise data is increasing focus to generate new revenue streams. For instance, a ride-hailing organization such as Ola, Uber and Lyft are using location-based analytics to gather insight about its consumer’s data that is collected from the pick-up and drop-off locations. Uber is expected to sell the data collected to other organization with the permission of the user. The data can be used to provide different promotions, vouchers or discounts to boost the market demand.

North America Dominating the Data Monetization Market

Based on geography, the market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. North America region is anticipated to hold a dominating position in the market owing to its state of art infrastructure and technological advancement. Further the presence of the key players such as Microsoft, IBM, Oracle and Salesforce.com in the region are boosting the market growth in this region. For instance, Oracle launched cloud native deployment option Billing and Revenue Management (BRM) in November 2019.

 The Asia Pacific region is also forecasted to grow at a significant growth rate. Rising internet connectivity along with growing cloud computing and small and medium enterprises are the prime drivers of the market. In addition, the increasing adoption of the big data technologies, IOT technologies and artificial intelligence (AI) are driving the data monetization market in this region.

COVID-19 Impact

The outbreak of the Covid-19 pandemic and its subsequent lockdown impacted every industry and disrupted the distribution channel curbing the growth of the economy. Every industry was affected in different ways, for instance, manufacturing was impacted negatively but the healthcare industry grew. These variations had a noticeable impact on the data generated and monetized.  Most of the business were depending on the online service, work from home practice because of the lockdown and the increase in customer’s indulgence in the online platform providing growth opportunities for the data monetization market. For instance, The National Institutes of Health launched a centralized and secure enclave in June 2020 as a part of the National COVID Cohort Collaborative (N3C) initiative for storage and analyzing a vast amount of medical record data from the patients who were diagnosed with covid-19 and the data is made available to the research and the healthcare providers to further develop and enhance the treatments provided.