Connected Retail Market Worth $53.75 Billion By 2022

The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc. Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive the connected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams. Several retailers have successfully embraced IoT to help customers connect with the next-generation consumers, sophisticated technology, and leveraging connected devices.

Emerging retailing formats such as omni channel retailing are anticipated to fuel industry growth over the next seven years. Omni channel retailing offers a seamless and flexible shopping experience to customers by integrating and aligning channels. It creates opportunities for retailers to capture more sales and increase loyalty and brand awareness.

The widening presence of mobile devices and the expanded use of mobile networks such as e-commerce engines are expected to serve as facilitators for a unified online/offline retailing experience.

However, possibilities of unauthorized access to various IoT applications or breaking into the device connectivity system are expected to challenge the IoT connected devices industry.

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http://www.grandviewresearch.com/industry-analysis/connected-retail-market

Further key findings from the study suggest:

The hardware segment is expected to grow at a CAGR of over 19% over the forecast period. The software segment is expected to witness highest growth over the next seven years owing to increasing number of applications for retail industry. Emerging app-driven hardware and embedded software into connected devices and the capability to monetize such device features and functions may contribute to industry growth. Hardware segment comprises sensors, RFID and gateway components.
Bluetooth LE is expected to witness substantial growth, with a CAGR of over 25% over the forecast period due to significantly low power consumption. Bluetooth Low Energy has a very low transmission frequency, which greatly improves the power consumption. Wi-Fi technology dominated the market with the revenue share of over 32% in 2014.
Managed services segment is contributed to over 40% of the overall global revenue shares in 2014. Implementing these services reduces the IT costs and enables retailers to gain the technical advantage. Retailers are increasingly outsourcing services to reduce risks and focus on its core competencies.
Asia Pacific regional market is expected to grow at a CAGR of nearly 25% over the forecast period. Major manufacturers in the industry are based in China, owing to cheap labor and higher production capacities. Further, China is making heavy investments in IoT industry, which may contribute to market growth.
Key industry participants include Atmel Corporation, ARM Holdings PLC, Cisco Systems, Inc., IBM, Google, Inc., Intel Corporation, NXP Semiconductors N.V.,Microsoft Corporation, PTC, Inc., Softweb Solutions, Inc., SAP AG and Zebra Technologies Corporation.

Human Machine Interface Market Worth $6.31 Billion By 2022

The global Human Machine Interface (HMI) market is anticipated to reach USD 6.31 billion by 2022, according to a report by Grand View Research, Inc. Developments in HMI programming software to integrate multi-vendor environment management ability is expected to fuel market growth over the coming years. In addition, advantages offered such as remote operation along with wide usage of HMIs in oil and gas and water treatment units for operating in harsh climates may also boost product demand significantly. This has also instigated companies to develop devices with better wear and tear properties.

Growing trend of protocol conversion for the exchange of data between all connected devices is anticipated to further catalyze HMI market growth. Moreover, technological advancements such as open platform architecture or OPA resulting in improvement of migration process is also likely to spur the demand in coming years.

Factors such as rising need for change in business process to incorporate HMIs along with high upfront capital may have adverse effects on the market development. Furthermore, awareness regarding HMIs among management and lower level staff along with the lack of experienced professionals may also affect the industry growth.

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http://www.grandviewresearch.com/industry-analysis/human-machine-interface-market

Further key findings from the report suggest:

Interface software market accounted for substantial revenue share in 2014. The segment is also anticipated to exhibit high growth with an estimated CAGR exceeding 10% over the next few years. This may be attributed to the increasing adoption of PC- based open source monitoring and controlling system worldwide.
Development of new and innovative displays along with emergence of industrial internet of things may contribute towards further growth in the display terminal segment.
Oil & gas emerged as the dominant application and accounted for over 20% of the overall revenue in 2014. This may be attributed to increasing demand from the oil & gas sector owing to the benefits offered by HMI regarding the flow of information inside a pipeline without updated monitoring capabilities for overcoming a particular problem.
HMI offers several benefits regarding driver safety and security by integrating solutions such as ADAS, ACC and LDW, which are expected to drive demand in the automotive industry.
North America HMI market is estimated to hold majority share and accounted for more than 30% of the consumption in 2014. Additionally, Asia Pacific is anticipated to exhibit high growth over the next few years. This may be attributed to the migration of manufacturing processes to developing regions in order to capitalize on labor cost and high availability of raw materials in this region.
Companies operating in the industry include GE, Eaton, ABB, Honeywell, Siemens, Omron, Rockwell Automation, Emerson Electric, etc.

Fuel Cell Vehicles Market Worth $1.75 Billion By 2025

The global fuel cell vehicles market size is expected to reach USD 1.75 billion by 2025, according to a new report by Grand View Research, Inc., registering a 33.7% CAGR during the forecast period. This rapid growth can be attributed to increase in investments by governments over the world for development and adoption of fuel cells.

Fuel cell vehicles ensure emission-free operation, which will effectively reduce the carbon footprint and significantly drive product demand over the next few years. The key factor expected to drive the industry is advancements in fuel cell technology. Ongoing advancements have helped match performance with conventional fuel vehicles, with respect to power output and user experience.

Adoption of fuel cell vehicles worldwide is expected to rise over the forecast period due to increasing awareness about reducing harmful emissions, strict environmental regulations, and growing incentives for use of clean energy.

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https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market

Further key findings from the report suggest:

The global fuel cell vehicles market was valued at USD 194.5 million in 2017 and is expected to exhibit a CAGR of 33.7% over the forecast years owing to growing trend of clean energy consumption
Several government initiatives and programs to encourage the use of fuel cell vehicles have led to an increase in their adoption, subsequently increasing their demand over the past few years
North America accounted for the largest market share in 2017 and is anticipated to exhibit a CAGR of over 36.0% over the forecast period. This can be attributed to massive investments by the United States Department of Energy (DoE) in development of fuel cells and improvement of infrastructure
Although the Europe fuel cell vehicles market accounted for just over 3.0% of the overall market revenue in 2017, it is anticipated to be the fastest growing region with CAGR of more than 38.0% over the forecast period
Key market players include Toyota Motor Corporation, Honda Motor Company, Ltd., and Hyundai Motor Company. Apart from these, there are several other automobile manufacturers that are in the process of launching their fuel cell vehicles.

Industrial And Commercial LED Lighting Market Worth $165.91 Billion By 2022

The global industrial and commercial LED lighting market is expected to reach USD 165.91 billion by 2022, according to a new report by Grand View Research, Inc. The high efficiency of LED lights combined with government regulations to ban incandescent lamps is estimated to drive demand over the forecast period.

The increasing shift towards the implementation of cost-effective systems is expected to proliferate demand. Concepts such as smart lighting which offer several benefits including comfort, safety, and security are projected to offer lucrative growth opportunities for the industry. For instance, the prevalence of various smart city schemes across the U.S. and Europe to reduce the consumption of energy and peak power demand is estimated to positively impact sales.

Stringent government regulations and ban on incandescent lamps and set up of minimum efficiency standards by various governments across the globe is further estimated to propel industrial and commercial LED lighting market. For instance, Brazil has banned 60-watt+ and 100-watt incandescent lamps since 2012. Additionally, various legislative actions taken to support these systems and the implementation of various energy-efficient programs are expected to be the critical parameter affecting the industry.

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https://www.grandviewresearch.com/industry-analysis/industrial-commercial-led-lighting-market

Further key findings from the report suggest:

The commercial lighting market accounted for over 50% of the overall industry in 2014. Growing demand for LED street lights across various countries including the U.S., China, and Germany is expected to foster growth. Further, increasing the construction of commercial buildings across the globe will impel demand.
The industrial segment is expected to witness considerable growth over the next seven years. High pressure to reduce operational and maintenance costs in industries and growing demand for less energy consumption are driving growth across this application.
Architectural LED lighting industry accounted for over 30% of the revenue in 2014 and is expected to witness strong growth, owing to the declining average price and continuous improvement in the luminous efficiency of white light.
Asia Pacific demand share exceeded 40% in 2014. Increasing construction of office spaces, commercial buildings, and retail stores across countries in Asia Pacific such as Australia, China, and India is estimated to drive the demand for general lighting.
Growing energy consumption is estimated to surge demand for efficient lighting technology over the next seven years. LED lights are environment friendly as it does not emit harmful gases resulting in hazardous disorders. It offers varied benefits such as high reliability, brightness, condensed size, and longer life span over incandescent lamps which are projected to contribute to revenue growth.
Notable companies comprise GE Lighting, Philips Electronics, Toshiba Corporation, Cree Inc., and Osram Opto. The company’s focus on extending the range of products and services to optimize vertical integration.

Talent Management Software Market Size Worth $24.03 Billion By 2025

The global talent management software market size is expected to reach USD 24.03 billion by 2025 according to a new report by Grand View Research, Inc. The talent management software industry is anticipated to undergo a series of changes owing to various factors such as decreasing employment rate, changing work environment, the rise of freelancing and contract work, and a globalized workforce.

The most pertinent of the factors is the advent of new software and technologies, such as big data analytics, social media, and the Internet. Mobile platforms are also revolutionizing some important talent management stages, such as recruitment and learning & training, thus driving competition in the market.

Industry leaders have been providing the products in the market for quite some time now but trends such as transparency, customization, and employee engagement are expected to be at the forefront of the new and upcoming offerings to customers. The increasing use of analytics to map the performances and predict the future outcomes has also had a positive effect on the adaptation to the technology in demand.

Solution integration and the availability of middleware from vendors are also an important step forward for the industry standardization. As the industry strides toward larger adoption and rapid developments in terms of capabilities, many new trends such as Massively Open Online Courses (MOOCs) and social media adherence, for either pre-hire assessment or employee feedback management, are gaining traction in the market.

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http://www.grandviewresearch.com/industry-analysis/talent-management-software-market

Further key findings from the report suggest:

The human resource departments are responsible for decisions concerning talent management systems and are witnessing a shift toward integrated solutions
Organizations, they are in search of platforms to integrate the disconnected systems
As the industry is moving toward digital management and cloud-based applications, there is a looming threat of data breaches and hacking incidents
key players include in the talent management software market are IBM Corp., Oracle Corp., SAP SE, Peoplefluent Inc., CornerStone OnDemand Inc., Haufe Group, Lumesse AS, DelTek Inc., Saba Software Inc., and Halogen Software Inc., among others
The industry may also witness a rise in the number of small companies and start-ups that address the niche markets and provide customized solutions while being susceptible to acquisitions and mergers of smaller firms as well as the entry of technology giants to capitalize on the market opportunities

3D Ultrasound Market Size Worth $4.8 Billion By 2027

The global 3D ultrasound market size is expected to reach USD 4.8 billion by 2027, expanding at a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Increasing preference for noninvasive diagnostic procedures coupled with continuous technological advancement in the field of 3D imaging is contributing to market growth. The advent of Artificial Intelligence (AI) and machine learning have improved the patient outcome.

AI can conduct a quantitative assessment by analyzing imaging information automatically and produce precise imaging diagnosis. The potential use of AI technology in the 3D ultrasound pipeline includes image and data interpretation, multi transducer technologies, image navigation, and quality optimization. Moreover, rising usage of imaging technology in various applications such as cardiology, general imaging, gynecology, and point of care are also contributing to market growth.

The market is expected to witness high demand for point of care 3D ultrasound. Major factors contributing to the growth are a miniaturization of technology and lower system cost. Furthermore, an increasing number of product launches and continuous technological collaboration among major players in the industry are also boosting the market growth. For instance, in November 2019, Philips Launched EPIQ Elite ultrasound system for gynecology and general imaging. The device combines 3D and 4D imaging and would improve patients’ clinical outcomes.

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https://www.grandviewresearch.com/industry-analysis/3d-ultrasound-market

Further key findings from the study suggest:

Based on the application, the general imaging segment dominating the market owing to the increasing number of product launches
Based on end-use, the handheld segment is expected to grow at the fastest pace over the forecast period due to the rise in point of care facilities
North America was the leading regional segment in 2019 and is expected to maintain its position during the forecast period, owing to the presence of various market leaders and continuous technological advancement in the region.

Quality Management Software Market Size Worth $17.08 Billion By 2027

The global quality management software market size is estimated to reach USD $17.08 billion by 2027, registering a CAGR of 10.1% from 2020 to 2027, according to a new study by Grand View Research, Inc. Quality management software (QMS) is used to better manage and control quality concerns regarding performance, customer satisfaction, and competitiveness of the organization. This is done by controlling the processes as well as products for consistent quality assurance, reducing the quality gap between manufacturing practices and end-product expectations, tracking of deviations, and ensuring compliances. Moreover, owing to the increasing advancements in functionality of solutions with the help of artificial intelligence (AI) and machine learning (ML) tools, the market is anticipated witness rapid growth.

The QMS market is expected to witness tremendous growth due to the increasing demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. Rapid technology advancements in IT and telecom as well as the automation of transportation and logistics industry are driving the market growth. QMS software offers numerous functionalities including handling of non-conformances, out of specification test results, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these capabilities coupled with the reduction in the costs are energizing the adoption of quality management software across a wide range of industries.

The flexibility and mobility offered by quality management software in solutions such as document control and non-conformances’ issue resolving is driving the demand for QMS software. The increasing demand for cloud based QMS solutions due to implied scalability and accessibility is becoming increasingly popular among all industrial sectors. For instance, in July 2019, MasterControl launched a new solution named MasterControl Manufacturing Excellence to help organizations bridge the gap between smart manufacturing and operational excellence by automating the last mile of production.

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https://www.grandviewresearch.com/industry-analysis/quality-management-software-market

Further key findings from the report suggest:

Document control segment is expected to witness phenomenal growth over the forecast period. Compliance to stringent quality standards, rigorous regulations passed by FDA and other global regulations are prime factors for adherence to quality document control processes by the industries worldwide
The cloud segment is likely to grow rapidly during the forecast period. The popularity of cloud technology among cost-sensitive customers and small and medium enterprises is anticipated to boost the adoption of cloud QMS solutions
The small and medium enterprise segment is predicted to and at the highest CAGR from 2020 to 2027. An increase in the number of providers and reduced costs of QMS solutions has pushed its adoption by SMEs. Moreover, the utility of QMS solutions has also helped in process optimization and reduction in overall product costs
The healthcare segment is likely to grow at a rapid pace during the forecast period, owing to rapid regulatory updates and innovation in medical devices vis-à-vis technology trends such as the IoT and analytics are likely to boost the utility of QMS solutions in the forthcoming years

Smart Elevator Market To Grow At A CAGR Of 14.8% From 2015 To 2022

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.

Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

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http://www.grandviewresearch.com/industry-analysis/smart-elevator-market

Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

Predictive Analytics Market Worth $23.9 Billion By 2025

The global predictive analytics market size is expected to be valued at USD 23.9 billion by 2025, registering a CAGR of 23.2% over the forecast period, according to a study conducted by Grand View Research, Inc. Massive data dependence and adoption of advanced technologies such as AI, machine learning, and big data is expected to drive the demand for predictive analytics solutions over the forecast period. These solutions transform collected data into insights; for instance, they detect patterns to determine a suitable course of action. They have also been instrumental in the development of search advertising and recommendation engines. Growing awareness about the importance of available data and its analysis for predicting the future scenario is offering a competitive edge to end users, thereby driving the demand for these solutions.

Key factors driving the demand for predictive analytics solutions are enhanced product usability, adoption of new technologies, massive data deluge, and newer levers of differentiators. In addition, growing need for database management, data warehouses, forecasting, data mining, smart logistics, CRM, and data visualization in dashboards is supporting the growth of the market. These solutions help map the various stages of the buyer journey, which would help organizations adopt suitable marketing campaigns, subsequently leading to higher sales and customer retention. Increasing demand for these solutions from organizations to equip their business functions with analytical capabilities are also expected to drive the growth of the market over the forecast period.

Techniques for implementing predictive analytics include machine learning, deep learning, regression, regression modeling, mathematical, text mining, neural nets, genetic algorithms, clustering, decision trees, and data exploration techniques to gain insights from historical and present data. These techniques are increasingly being adopted by organizations for various applications such as CRM, direct marketing, risk management, portfolio management, fraud detection, underwriting, and credit scoring. These solutions therefore help organizations decide future strategies based on predicted outcomes for enhancing the overall performance in the coming years.

These solutions find applications in various end-use industries such as BFSI, healthcare, retail, manufacturing, government, sports, transportation and travel, IT, energy and utilities, and entertainment. These solutions help manage diversified applications across the aforementioned verticals. For instance, in the manufacturing industry, these solutions can be used for equipment maintenance management, workforce management, and cross-selling and up-selling. Moreover, the IT and telecom industry can adopt these solutions in sales, marketing, and CRM by implementing churn and pricing optimization.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/predictive-analytics-market

Further key findings from the study suggest:

The customer analytics segment is anticipated to gain significant traction over the forecast period, supported by digitalization and positive outlook of the e-commerce sector
Training and consulting services are expected form the fastest-growing segment over the forecast period owing to rising need for experienced employees for decision making based on predictive outcomes
Demand for cloud deployment is likely to increase owing to cost-effectiveness, faster data-processing, and ease in data handling offered by cloud platforms
The small and medium enterprises segment is expected to register a significant CAGR over the forecast period owing to growing need for enhancing operational performance by reducing overall operational costs with the help of these solutions
The retail and e-commerce segment is predicted to witness a remarkable growth over the forecast period owing to increasing internet and smartphone penetration, along with digitalization across the globe
North America dominates the global market owing to technological advancements and presence of players in U.S. Financial funding to new players from venture capitalists is projected to intensify the competition in the market
Prominent players operating in the market include Microsoft Corporation; SAS Institute, Inc.; IBM Corporation; SAP ERP; Siemens AG; NTT Data Corporation; and Tableau Software, Inc.

COVID-19 Diagnostics Market Size Worth $24.6 Billion By 2027

The global COVID-19 diagnostics market size is expected to reach USD 24.6 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.1% during the forecast period. An increase in the need for mass testing and efficiency in diagnosing the infection are key contributors to market growth. As the number of COVID-19 cases is exponentially rising, the need to develop rapid and easy-to-use diagnostic and serology tests is also increasing. This has created opportunities for emerging players and new market entries, thereby driving market revenue.

Large-scale operational entities in Sweden, such as Tele2, H&M, and Spotify are engaged in mass testing for distinguishing the staff tested positive from uninfected. In addition, key players are constantly accelerating the production and supply of diagnostic tests to keep pace with the increasing need for disease containment. For instance, in May 2020, Roche introduced an antibody test which is recognized as 100% accurate by Public Health England.

Exploring the potential of novel molecular technologies in the scaling-up of coronavirus testing is expected to offer a significant momentum to the expansion of COVID-19 diagnostics space. For instance, CRISPR-a gene editing technology-has recently made its way into the coronavirus testing market. This gene-editing technology enables detection of SARS-CoV-2 genes, via a protein, namely, CRISPR-Cas12. Acknowledging the potential of this technology in diagnosing coronavirus patients, the Food and Drug Administration (FDA) recently approved the CRISPR test for coronavirus patients in the U.S. This diagnostic kit has been approved under the provisions of emergency use.

The expanding pool of startup companies actively operating in the market for COVID-19 diagnostics is also expected to intensify market participant competition. This trend has been prominently observed in the Asia Pacific region, contributing to the fast-paced growth expected to be witnessed by this region through 2021-2027. Some of the startup manufacturers of novel COVID-19 tests include Mylab, DNA Xperts Private Limited, Rokid, Bione, and SD Biosensor.

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https://www.grandviewresearch.com/industry-analysis/covid-19-diagnostics-market

Further key findings from the report suggest:

Diagnostic service is estimated to capture the maximum revenue share owing to the introduction of policies and mandates to conduct testing at a large scale globally
The nasopharyngeal swabs segment is estimated to dominate the market in 2020 with a revenue share of 48%, followed by an Oropharyngeal (OP) swab. Nasopharyngeal swabs are the gold standard for COVID-19 sample collection; both oropharyngeal and nasopharyngeal swabs are largely employed in PCR testing. This has propelled the expansion of point-of-care COVID-19 testing market space, which has contributed to the segment’s fast-paced growth through 2021 to 2027
The increasing popularity of at-home testing and handheld instruments targeted toward combating the shortage of coronavirus test kits has been witnessed. This is expected to result in the lucrative growth of Point-of-Care (POC) testing during the forecast period
Laboratories are estimated to be the key revenue contributing end-users owing to the primary role of laboratories in sample testing for suspected individuals
Asia Pacific is projected to dominate the market for COVID-19 diagnostics in 2020 with a revenue share of around 37% and is expected to maintain this dominance during the forecast period. This is attributed to the robust funding for fast-track studies pertaining to clinical validation of rapid testing as well as the rapid launch of novel products. Robust government initiatives aimed at increasing the number of operational laboratories dedicated to coronavirus testing across Asian countries are set to propel the market growth