Automotive lighting market to grow at 12.0% CAGR from 2015 to 2022

The automotive lighting market is anticipated to reach USD 34.65 billion by 2022. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market.

Increasing apprehensions about using energy-efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry is expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques.

THE Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry.

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The increase in demand for eco-friendly LED technologies on account of high efficiency, reduced CO2 levels, and high power, is expected to propel growth. Companies have been trying to develop eco-friendly LEDs to promote product differentiation and strengthen their global foothold. LEDs are used in daytime running lights (DRL), parking light, brake lights, and turning lights. LEDs are preferred over xenon and halogen lights owing to optimum light-bearing capacities and improved design, which lead to increased shelf life.

The adaptive headlight is an active safety feature that is intended to enhance the drivers’ visibility in poorly illuminated areas. It encompasses functionalities including automatic rotation which can sync with sensors and adjust brightness and intensity of light. The front lighting segment accounted for over 70.0% of the total revenue in 2014 owing to the availability of advanced features including automatic rotation which can sync with automatic brightness modules and sensor response. Extreme climatic conditions in Europe and North America are expected to trigger demand for fog lights over the forecast period.

The automotive lighting industry in Asia Pacific is estimated to grow at a CAGR of over 8.0% and acquire a market share of about 45.0% over the forecast period. The continuous expansion of suppliers coupled with a vast production base is expected to position this region as the market leader. Countries including India, Japan, and China account for the major production base for vehicles globally, thus offering extensive growth opportunities.

Key companies including Hella KGaA Hueck & Co., Koito Manufacturing Co., Magneti Marelli S.p.A and Valeo. Vendors usually employ the strategy of new product development and mergers & acquisitions to enter new markets. The introduction of low-cost LEDs and energy-efficient alternatives is foreseen as a cost-effective strategy for the industry.

Life Science Analytics Market Worth $13.2 Billion By 2027

The global life science analytics market size is expected to reach USD 13.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2020 to 2027. Rising applications of advanced analytics in life science applications and increasing demand from pharmaceutical and medical device industry are the major parameters driving the market. Analytics are used widely used in the life science analytics industry to assess risk, assessment of the effectiveness of clinical trials, provide personalized medicine, develop faster and more productive research and development pipeline, forecasting profits, budgeting, controlling product price, and predict virus evolution.

Rising adoption of big data and artificial intelligence in the healthcare sector is estimated to drive the market during the forecast period. A survey conducted by Applied Clinical Trials in 2016 depicted that 58.0% of the clinical trials industry professionals considers big data in clinical trials as extremely important while 32.0% considered it moderately important. Furthermore, the growing impact of social media on healthcare sector is fueling the growth of the market. As of 2016, the CDC has 18 Facebook profiles with a reach of 370,000 populations; YouTube channel with over 8.8 million public views; 13 blogs; LinkedIn accounts; mobile apps, and many other reaches through social networking. The concept of social media is enabling the organizations to facilitate the integration of multiple information in a platform, rationalize the cost, and better targeting of providers and consumers (or patients).

mHealth, Electronic Health Records (EHR), eHealth, and mobile applications along with artificial and human intelligence data analytics are offering opportunities for customization of medical approaches, which in turn is increasing demand for data analytic tools in the life science industry over the forecast period. According to Personalized Medicine Coalition, the number of drugs manufactured by personal medicine approaches has grown by 62%, since 2012.Moreover, strategies adopted by key players such as partnerships, product launches, collaborations, mergers & acquisitions, and government initiatives is further boosting the market. For instance, in April 2016, IBM acquired Truven Health Analytics, a leading provider of cloud-based healthcare data and analytics, to strengthen its Watson Health portfolio. This was expected to give the company access to over 8,500 clients of Truven Health Analytics.

The report “Life Science Analytics Market Size, Share & Trends Analysis Report By Component, By Type (Reporting, Descriptive, Predictive, Prescriptive), By Application, By Delivery, By End User, By region, And Segment Forecasts, 2020 – 2027” is available now to Grand View Research customers and can also be purchased directly fromhttp://www.grandviewresearch.com/industry-analysis/life-science-analytics-market

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Further key findings from the report suggest:

Descriptive analytics type emerged as leading ingredient typesegment in 2019 with a revenue share of 36.0% in the market
Based on components, the services segment accounted for the largest revenue share in 2019, and is also projected to expand at fastest CAGR during the forecast period
Amongst application segment, sales and marketing support accounted for the largest revenue share in 2019, whereas research and development is projected to expand at fastest CAGR during the forecast period
Amongst delivery segment,on-premises accounted for the largest revenue share in 2019, whereas on-demand is projected to expand at fastest CAGR during the forecast period
Based on end-user, the pharmaceuticals segment accounted for the largest revenue share in 2019, whereas biotechnology is projected to expand at fastest CAGR during the forecast period
North America accounted for the largest revenue share due to increasing government support and growing demand for analytics from life science companies

Infection Surveillance Solutions Market Size Worth $1.0 Billion By 2026

The global infection surveillance solutions market size is poised to reach USD 1.0 billion by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 14.3% during the forecast period. Improving healthcare settings worldwide coupled with advancements in healthcare IT infrastructure is projected to play a pivotal role in the growth of the market. Rising prevalence of healthcare-associated infections (HAIs) has been one of the critical factors driving the market.

According to HAI Prevalence Survey conducted by the Center for Disease Control and Prevention (CDC), in 2014, around 722,000 cases of HAIs were detected in the U.S hospitals alone. Moreover, according to the California Department of Public Health (CDPH) in 2016, 18,924 HAIs cases were reported in 400 acute care hospitals. In addition, as per facts published by the European Commission (EC), around 25,000 people die in the European Union (EU) from antibiotic-resistant bacteria. The figure is expected to increase to 10 million deaths per year if the current infection trend continues by 2050.

Rising collaboration and government initiatives are also stimulating the growth of the market. For instance, in January 2018, the Indian Council of Medical Research (ICMR) and Pfizer, Inc. signed a partnership agreement to introduce anti-microbial resistance stewardship programs. The objective was to scale up the AMR surveillance network in India.

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Further key findings from the report suggest:

Surgical site infections emerged as the most promising segment during the forecast period owing to the increasing number of surgeries being performed worldwide
On the basis of the product and services segment, the on-premise software segment commanded the largest share in the market owing to its increased usage
North America dominated the market in 2017. Government programs and rising awareness about infection surveillance are facilitating the dominance of this region during the forecast period
Asia Pacific is estimated to witness swift growth during the forecast period due to increasing establishment of hospital chains and huge patient population
Few of the key market players are Wolters Kluwer N.V; Gojo Industries; Becton; Dickinson and Company; RL Solutions; Baxter International Inc.; Premier Inc.; and Truven Health Analytics (An IBM Company).

Tumor Necrosis Factor Inhibitor Drugs Market Worth $42.1 Billion By 2026

The global tumor necrosis factor inhibitor drugs market size is anticipated to reach USD 42.1 billion by 2026, according to a report published by Grand View Research, Inc. Increasing prevalence of autoimmune diseases, rapid technological advancements, and rise in healthcare expenditure across the globe are some of the major factors expected to drive the growth.

Currently, there are five approved TNF inhibitor drugs in the market- Humira (adalimumab), Enbrel (etanercept), Remicade (infliximab), Simponi/Simponi Aria (golimumab), and Cimzia (certolizumab). Biosimilar versions of Humira, Enbrel, and Remicade have been launched, causing a significant paradigm shift in the market.

The wave of biosimilars pose a significant internal threat to the biologics sale as biosimilars have a comparable efficiency as the original products. The cost-effectiveness of biosimilars makes them an attractive choice in economically sensitive areas. In addition, emerging countries, such as India, China, and South Korea are active participants in the biosimilar market.

Some of the key therapeutic areas involving treatment with TNF inhibitor drugs are rheumatoid arthritis, psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis. Although these medicines are mostly used for the treatment of autoimmune diseases, several ongoing studies are investigating the role of TNF inhibitors in the treatment of cancer and other inflammatory conditions.

Some of the key players in the TNF inhibitor space are involved in strategic initiatives, such as mergers and acquisitions and joint ventures for the co-development of products. In addition, patent infringement issues between the manufacturers makes the market dynamics intensely competitive. For instance, AbbVie resolved an issue with Boehringer Ingelheim, regarding Humira’s intellectual property (IP) rights. As per the terms of the agreement, Boehringer Ingelheim received a non-exclusive license to Humira’s IP in the U.S.- scheduled to begin in July 2023.

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Further key findings from the study suggest:

Humira accounted for nearly half the revenue share of TNF inhibitor drugs market in 2018
Emergence of biosimilars is anticipated to be the major growth rendering driver for the market
Psoriasis is projected to be the most rapidly growing application segment over the forecast period
Increased adoption of e-commerce is a key driver for online pharmacies
TNF inhibitors faces an external threat from IL-inhibitors

Patch Based Wound Healing Products Market Worth $1.52 Billion by 2026

The global patch based wound healing products market size is expected to reach USD 1.51 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.2% during the forecast period. Factors such as increasing prevalence of acute and chronic wounds, number of surgical procedures, incidence of road accidents, and demand for rapid wound healing products are expected to propel the market growth.

Increasing cases of chronic and acute wounds across the globe is anticipated to be the major growth driver for the market. As per a journal published by the ScienceDirect in 2018, prevalence of non-healing chronic wounds in the developed countries is around 1.0 to 2.0% of the population. Adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are some of the major factors contributing to the rise in prevalence of non-communicable diseases.

According to the National Diabetes Statistic Report, 2017, published by the Centers for Disease Control and Prevention (CDC), more than 100 million people in U.S. were living with diabetes or prediabetes in the same year. According to a report published by the American Diabetes Association in 2018, the annual incidence of diabetic foot ulcer was around 2.0% in most Western countries. Rising prevalence of acute wounds across the globe is anticipated to drive the patch based wound healing products market. As per the World Health Organization (WHO), over 1,000,000 people are registered, annually, as moderately or severely burnt. Rising incidence of burns is also anticipated to propel the product demand over the forecast period.

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Further key findings from the study suggest:

In terms of revenue, acute wounds segment held the largest market share in 2018 owing to the rising cases of road accidents and burn cases across the globe
The collagen based wound healing products held the largest market share in 2018 owing to wide range of product application for the treatment of various types of wounds
Asia Pacific patch based wound healing products market is expected to witness the fastest CAGR over the forecast period owing to the huge untapped market potential and rising number of road accidents
Few of the prominent market players are Johnson & Johnson Services, Inc.; Smith & Nephew plc; Mölnlycke Health Care; Coloplast; 3M; and B. Braun Melsungen AG

Digital Marketing Software Market Size Worth $151.8 Billion By 2027

The global digital marketing software market size is expected to reach USD 151.8 billion by 2027, registering a of CAGR 17.4% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The software can integrate multiple digital content delivery platforms so that organizations can plan, design, and execute marketing campaigns on their own. The software is utilized by companies to perform an in-depth and real-time analysis of campaigns. The proliferation of the internet and the growing use of social media are encouraging companies to increase their spending on creating interactive and intuitive digital content for marketing purposes. This, in turn, is anticipated to drive the market over the forecast period.

The advent of social media has dramatically enabled organizations to increase customer engagement via influencers, allowing organizations to engage in content-driven publicity. Furthermore, the on-going innovations in digital marketing technologies such as virtual influencers and its subsequent applications in the retail industry are anticipated to fuel market growth. For instance, Channel S.A and PRADA have adopted Lil Miquela, a virtual influencer developed by Brud for advertising their products. Moreover, the increasing adoption of Voice of the Customer (VoC) techniques such as online-hosted customer communities that defines a customer’s preference for future products is anticipated to boost the demand for the software over the forecast period. Moreover, the outbreak of COVID-19 has positively impacted the market owing to the increasing social media marketing activities among industries such as automotive, BFSI, education, and healthcare.

Artificial Intelligence (AI) is extensively used to build data models automatically in digital forms and collect data from multiple sources. AI is positively impacting the market, as organizations are emphasizing the adoption of this technology for improving the customer experience. For instance, CogniCor Technologies has integrated AI in its digital marketing software to enable end users to enhance the complaint resolution activities, resulting in an increased level of customer satisfaction. Thereby, the companies offering AI in their software are likely to stay competitive in the market.

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Further key findings from the report suggest:

The marketing automation software is anticipated to gain traction over the forecast period to perform activities such as lead nurturing and collaboration among teams to promote business
The managed services segment is expected to grow significantly over the forecast period. This can be attributed to the advantages provided by managed services such as remote monitoring and cost-effective management of IT infrastructure through subscription-based pricing models
The cloud deployment model is expected to gain traction over the forecast period due to its cost-effectiveness and increased accessibility
The SMEs segment is anticipated to grow remarkably owing to the increasing adoption of social media platforms such as Facebook, Pinterest, and Instagram, by SMEs for activities related to sales and promotion
In Asia Pacific, the digital marketing software market is anticipated to witness significant growth owing to increasing popularity of social media, e-commerce, and m-commerce particularly in emerging economies such as India, Indonesia, and Thailand
Key players operating in the market include Adobe, Inc.; Hewlett Packard Enterprise Company; Hubspot, Inc.; IBM Corporation; Marketo, Inc.; Microsoft Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; and SAS Institute, Inc.

Robotic Process Automation Market Worth $25.56 Billion By 2027

The global robotic process automation market size is expected to reach USD 25.56 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 40.6% over the forecast period. The organization’s need to automate structured, repetitive processes to focus on core business activities and reduce operation time and effort is anticipated to drive the growth. The Robotic Process Automation (RPA) can be implemented across various business departments to automate numerous processes such as employee, customer, vendor onboarding, payroll processing, order processing, and report aggregation.

3d rendering humanoid robot working with headset and monitor

The integration of technology to automate repetitive tasks across industries has resulted in accelerated work, reduced human error, and increased throughput. The combination of RPA with cognitive technologies such as speech recognition, machine learning, and Natural Language Processing (NLP) is capable of handling higher-order tasks with Artificial Intelligence (AI) assistance without humans’ decision-making capabilities. RPA was designed to reduce repetitive tasks by following a set of predefined procedures that do not require knowledge or insights, while the integration of AI allows RPA softbots to function as a knowledge-based dynamic system to work beyond an automated cognitive system. The application of RPA from the bill of materials to customer query handling with the intelligence of AI has led to a high growth trajectory of the RPA market.

The COVID-19 pandemic has resulted in inclination towards cost saving by reducing the number of employees involved in performing redundant tasks or improving the efficiency of its workforce using automation software. Specifically, the adoption of robotic process automation has increased in small and medium organizations that need to monitor its cost and human resource more precisely to save on additional and unwanted expenses. The significant benefit of RPA for SMEs includes improved employee and customer satisfaction, enhanced compliance, and accelerated productivity gains with reduced cost and time. Moreover, large enterprises are also adopting RPA to improve their business operation due to the implication of remote working that has affected the overall company business. Hence, changing workforce dynamics is expected to increase the adoption of RPA over the forecast period.

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Further key findings from the study suggest:

The Robotic Process Automation market size is anticipated to reach USD 25.56 billion by 2027. The higher demand for automating processes to save time and reduce operational costs is driving the market growth over the forecast period.
The BFSI segment is anticipated to grow at a CAGR of 40.1% over the forecast period.
North America held the dominant market share of approximately 37% in 2019. Asia Pacific, on the other hand, is anticipated to exhibit the fastest CAGR over the forecast period.
Some of the major players present in the market are UiPath, Automation Anywhere, Blue Prism, NICE, Pegasystems, KOFAX INC., NTT Advanced Technology Corporation, EdgeVerve Systems Limited, FPT software, OnviSource, Inc., and HelpSystems. These major players in the RPA market exhibit robust product offerings and presence across the world.

Civil Engineering Market Worth $13.35 Trillion By 2027

The global civil engineering market size is expected to reach USD 13.35 trillion by 2027, according to a new report by Grand View Research Inc. It is projected to exhibit a CAGR of 5.4% during the forecast period. Rising public-private partnership to aid the investment in infrastructure development in emerging economies is expected to bolster the growth.

Increasing adoption of advanced technologies and digitalization is expected to have positive impact on sustainable development of civil engineering value chain across the globe. These trends are expected to strengthen the network of players in the construction value chain and facilitate the digital transformation process, thereby driving the market for civil engineering.

Numerous market players are focusing on the use of green building products owing to the rising significance of eco-friendly products and energy efficiency. Thus, the shift of construction sector from the use conventional construction materials, is expected to heighten of importance of civil engineering for the successful execution of construction projects.

The government, private contractors, and public-private partnerships are the major buyers of civil engineering services for the development of residential and commercial projects, infrastructure projects, and industrial facilities. Rapid rise in service standardization and establishment of regulatory norms among major economies is anticipated to positively influence the market growth.

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Further key findings from the report suggest:

Planning & Design service segment is expected to expand at a CAGR of 6.1% over the estimation period owing to its rising significance in mega construction projects involving enormous capital investment for efficient and cost-effective operations
In 2019, real estate applications held the dominant market share of 41.9% on account of burgeoning demand for single family dwellings and multistoried apartments for rapidly rising population
The revenue from government sector stood at USD 3.63 trillion in 2019 and is projected to expand at a CAGR of 5.3% over the forecast period on account of rising government investments in infrastructure building in emerging economies
Asia Pacific accounted for a revenue share of 32.5% in 2019 and is anticipated to continue this trend over the forecast period, owing to rapid expansion of real estate sector along with infrastructure development in emerging economies, such as India and China

Self-service Technology Market Size Worth $46.03 Billion By 2027

The global self-service technology market size is expected to reach USD 46.03 billion by 2027, registering a compound annual growth rate (CAGR) of 6.7% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. The market is poised to grow at a significant pace owing to the numerous benefits offered by the technology for both the customers and businesses. Organizations are increasingly adopting such technologies as a measure to enhance their service exchanges. From restaurants to banks and airports to hotels, the usage of self-service technology has increased the customer satisfaction as it infuses personal service interaction with the customers. The technology has replaced human interaction in the process of billing statements, transactions, ordering food, and waiting in queues. These increasing benefits offered by the self-service technologies are anticipated to drive the overall market.

The self-service checkout systems have become the primary channel to provide easy access to banking services. The continued demand for cash or paper-based transactions across the globe has consistently driven the demand for ATM and cash dispensing systems. Although the rise in digital mode of transactions has varied the prevalence of cash payments, the demand for ATM withdrawals and cash remains prevalent across various emerging economies. According to the World Cash Report published in 2018 by G4S plc, a U.K. based security service company, the overall growth rate of cash transactions across Europe was positive. Furthermore, the report also highlighted that majority of the countries had expressed constant demand for ATMs and cash withdrawals. Thus, the need for self-service technology such as ATM remains the primary channel for providing enhanced service 24*7.

Furthermore, the growing trend of digital transformation in retail industry is another critical factor responsible for market growth. The radical shift in customer behavior and increasing consumer expectations have forced retailers to embrace advanced technologies to provide customer satisfaction throughout their in-store buying process. Furthermore, with the increasing popularity of e-commerce, the retail in-store transformation has been a critical factor for their survival. Retailers are using self-servicing technologies as their Unique Selling Proposition (USP) to allow customers free of space to select their in-store shopping experience. Major retailers such as Albertsons and Macy’s are piloting such technologies to improve their in-store customer experience.

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Further key findings from the study suggest:

The ATM segment accounted for the largest market share in 2019 and is expected to reach 22.1 billion by 2027, owing to the continued demand for cash transactions across developing economies
The vending machine product type is expected to emerge as the fastest growing segment over the forecast period, owing to its rising demand across corporate sector and QSRs
The retail application segment is expected to account for over 30% share in terms of revenue by 2027. This can be attributed to the growing retail in-store transformation and the need to provide personalized customer experience
Asia Pacific accounted for the largest revenue share in 2019 and is expected to register the fastest CAGR over the forecast period owing to the rise in deployments of ATMs, mobile ATMs, self-checkout kiosks, and vending machines among travel, retail, and other commercial applications

Dental Chair Market Size Worth $639.4 Million By 2026

The global dental chair market is expected to reach USD 639.4 million by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4%. Dental chairs are vital for any dental procedure. Rising need for comfortable chairs during surgeries and increasing demand for dental aesthetics are expected to boost growth during the forecast period. Therefore, key players are increasingly focusing on patient comfort while designing these chairs. Technological advancements such as addition of imaging systems, operating lights, footswitches, extended trays, and x-ray viewers have led to the introduction of innovative designs, thereby creating growth opportunities for market players.

Advancements in infrastructure in the healthcare and medical industry are expected to propel dental chair market growth. Moreover, increasing prevalence of oral diseases & dental disorders worldwide due to unhealthy eating habits, high sugar in daily diet, smoking, family history, and infections, such as AIDS or HIV, is boosting the demand for various dental equipment. This, in turn, is fueling the demand for dental examinations, thereby driving overall growth.

North America held the largest share in 2018 owing to factors such as high prevalence of dental disorders, growth in geriatric population, and improvement in infrastructure. Besides periodontal diseases, other common dental diseases prevalent in North America are tooth decay, bad breath, tooth erosion, and sensitivity, among others.

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Further key findings from the report suggest:

The powered chairs segment held the largest share in 2018 and is expected to grow at a considerable rate during the forecast period
Increasing number of innovations and growing preference by dental surgeons can be attributed to the high share of this segment
Ceiling mounted design held a significant share of the market in 2018 as this design offers better assistance to dentists in performing multiple surgeries
Among all applications, examination held the largest share owing to increasing awareness about oral benefits and rising incidence of several dental diseases
Asia Pacific is expected to grow at a significant rate during the forecast period due to rising number of campaigns & initiatives by several organizations to create awareness about optimal dental health & hygiene and growing number of upgrades.