Automotive Electronics Market Size Worth $493.69 Billion By 2027

The global automotive electronics market size is expected to reach USD 493.69 billion by 2027, expanding at a CAGR of 9.0% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing automotive production across emerging economies, coupled with the growing demand for luxury and hybrid vehicles is anticipated to drive the growth. Additionally, the availability of advanced safety systems with features such as automatic emergency braking, and blind-spot detection at a reduced cost is leading to an increase in the integration of these systems. This, in turn, is also expected to boost the adoption of Engine Control Units (ECUs) and sensors used in these systems, subsequently fueling the market growth.

Moreover, to bring down the number of road accidents, governments are also regulating the use of Advanced Driver-Assistance Systems (ADAS) in vehicles. For instance, the New Car Assessment Program mandates the use of advanced active and passive safety systems, such as automatic emergency braking and lane departure warning, in China, U.S., and Europe. The Indian government also allows the use of certain low-frequency bands that can help automotive manufacturers to use radar-based systems for installing ADAS features in vehicles. Stringent regulations have mandated the deployment of most of the electronic components during vehicle production stage itself, thus linking the automotive electronics demand with the growth in vehicle production. Hence, it resulted in an increase of over 2.5% in the Original Equipment Manufacturer (OEM) segment share between 2019 and 2027.

Furthermore, in European and North American regions, the demand for in-vehicle infotainment systems has gained prominence, thereby supporting the market demand. Infotainment solutions providers are actively participating in consolidating the features, such as in-vehicle infotainment and ADAS, in reducing the overall electronic component count, consequently reducing the vehicle weight. For instance, NVIDIA Corporation announced the launch of the DRIVE CX platform. This platform can be used for infotainment and ADAS solutions, in the autonomous vehicles. However, such consolidation requires high-speed data processing controllers such as 64-bit ECU’s and integration of other advanced hardware and software, which is expected to drive the overall market growth from over the forecast period.

Asia Pacific held a dominant market share in 2019, attributed to the significant investments in the automotive industry, mainly in emerging countries, such as Japan, India, and China. The Make in India campaign is anticipated to draw significant investments toward automotive sector, as India offers benefits such as cheaper raw materials and low-cost labors. Besides, Japan is one of the most technologically advanced nations and has witnessed some recovery in its vehicle production since 2015.

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The current carrying devices segment is expected to hold a dominant market share over the forecast period, owing to the rising demand for convenience, safety features, and connectivity in passenger cars
The safety systems segment is estimated to dominate the market throughout the forecast period owing to increasing consumer awareness pertaining to safety equipment in vehicles
OEM segment dominated the automotive electronics market in 2019 owing to the increased durability and shelf life of electronic components that they offer as compared to the aftermarket components
Asia Pacific is estimated to register the highest CAGR of 9.4% from 2020 to 2027 owing to the increasing vehicle production in emerging countries such as India and China
The key industry competitors include Aptiv PLC, Continental AG, Denso Corporation, Intel Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG

Video Surveillance & VSaaS Market Size Worth $48.95 Billion By 2020

The Global video surveillance & VSaaS market size is expected to reach USD 48.95 billion by 2020, according to a new study by Grand View Research, Inc. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market. Increased demand for traffic surveillance and intrusion detection is also expected to propel market growth over the next six years.

Technological advancement has led to the development of improved surveillance cameras and related devices. Declining IT costs and centralized data management are expected to positively impact the video surveillance & VSaaS market. Privacy concerns associated with public surveillance may restrain the market growth. Implementing big data analytics solutions is expected to provide viable growth opportunities to companies operating in the market. Mobile video surveillance allows real-time data viewing, which presents growth potential to the video surveillance market.

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Further Key Findings from the Report Suggest:

IP-based systems are expected to gain market share over the forecast period, which can be attributed to benefits such as superior image resolution and integrated analytics engines. The demand for analog systems is expected to remain robust in the price-sensitive consumer segment.
Hardware accounted for the majority of the market share in 2013 and is expected to remain the leading component segment over the forecast period. Key hardware products include cameras, recorders, and storage devices; the need for efficient security in public venues and sporting events is expected to drive global surveillance cameras demand. The services segment that includes hosted, managed and hybrid services is expected to witness high growth over the next six years.
Transportation and retail are expected to remain the major application segments over the forecast period. The need for traffic regulation and controlling theft and vandalism activities in public transport are expected to drive market growth. Video surveillance proves effective for deterring crime and curbing business losses, which is expected to fuel the retail segment.
North America was the largest regional market in 2013 and is characterized by the presence of several industry participants. Asia Pacific is expected to gain market share over the forecast period; this is mainly due to the growing installation of surveillance devices in China and India, along with increased infrastructure spending in the region.
Key market players include Hikvision Digital Technology, Axis Communications, Honeywell, Cisco, Bosch Security, etc. Companies enter into strategic alliances and focus on product innovation in order to gain market share. Focus on providing VSaaS solutions and investing in emerging markets are other strategic initiatives.

Sports Medicine Market Size Worth $15.2 Billion By 2027

The global sports medicine market size is projected to reach USD 15.2 billion by 2027, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. The increasing demand for sports medicine, owing to the shift towards a healthy lifestyle adopted by the young population, and rising incidences of injuries among athletes and fitness enthusiasts are some of the major factors driving the market.

In 2019, the body reconstruction and repair devices segment dominated the market with a revenue share of 39.2%. An increase in the number of ligament injuries and growing demand for minimally invasive repair surgeries due to short recovery time are some of the key factors driving demand for these devices. On the other hand, the accessories segment is anticipated to witness the fastest growth over the forecast period, due to increasing demand for effective wound healing among athletes.

The knee application segment is currently dominating the market. An increase in the number of cruciate ligament injuries and a growing demand for knee arthroscopy are the major factors driving the growth of this segment. On the other hand, the segment is anticipated to witness the fastest growth of 8.9% over the forecast period, owing to continuous increase in the number of knee replacement surgeries and the introduction of innovative and personalized total knee replacement (TKR) system by key players.

North America dominated the market in 2019, owing to the presence of a high healthcare expenditure followed by active participation of the population in physical activities. On the other hand, Asia Pacific is expected to witness the fastest growth as the regulations for medical devices in the region are less stringent, providing easy entry to global players. Moreover, growing medical tourism in the region is further anticipated to drive market growth over the forecast period.

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Further key findings from the report suggest:

The global market is anticipated to reach USD 15.2 billion by 2027, owing to rise in the number of injuries
The accessories segment is anticipated to witness the fastest CAGR of 8.8% over the forecast period as the demand for wound care products is increasing
The knee application segment is anticipated to exhibit the fastest CAGR of 8.9%, owing to the increase in the number of cruciate ligament injuries
North America dominates the sports medicine market, owing to the high healthcare expenditure.

Immunoprotein Diagnostic Testing Market Worth $10.3 Billion By 2025

The global immunoprotein diagnostic testing market size is anticipated to reach USD 10.3 billion by 2025, according to a new report by Grand View Research, Inc. This growth can be attributed to the rising incidence of chronic diseases.

According to American Heart Association’s 2017 statistics, nearly 790,000 people experience heart attack every year in the U.S. In addition, stroke is responsible for 1 in every 20 deaths in the U.S. Hence, WHO is also taking initiatives to reduce the risk of cardiovascular diseases. As a result of the aforementioned factors, the demand for immunoprotein diagnostics is expected to rise in order to facilitate rapid diagnosis.

According to WHO, nearly 1.69 million deaths due to lung cancer were registered in 2015 throughout the world. Hence, fast and accurate diagnosis of such chronic diseases has become important to reduce the high mortality rate. Immunoprotein diagnostic devices and reagents have proved to be highly effective in rapidly detecting chronic diseases.

Technological advancements in the field of immunoprotein diagnostics have led to introduction of novel products. For instance, LIAISON XL, manufactured by DiaSorin, is a fully automated chemiluminescence analyzer that facilitates complete sample processing. It also measures and evaluates testing samples, thereby, enhancing the efficiency and throughput of the system.

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Further key findings from the study suggest:

In 2016, immunoglobulin tests dominated the market owing to their frequent usage by healthcare professionals for diagnosing infectious or autoimmune disorders
C-Reactive Protein (CRP) tests held a significant market share in 2016 due to the broad product portfolio of these assays and reagents
Infectious disease testing held largest market share in 2016 owing to the increasing prevalence of infectious diseases and high applications of immunoprotein tests
Enzyme-based immunoassays dominated the market in 2016 due to their frequent usage and availability of large number of products that possess this technology
Chemiluminescence assay is anticipated to witness highest growth over the forecast period due to its high sensitivity and specificity
North America dominated the market in 2016 due to rising prevalence of cancer & increase in mortality due to cancer-related diseases and favorable healthcare reimbursement scenario in the U.S.
Some of the key players of immunoprotein diagnostic testing market are Bio-Rad Laboratories, Inc.; F. Hoffmann-La Roche AG; Abbott Laboratories; Enzo Biochem, Inc.; Thermo Fisher Scientific, Inc.; DiaSorin S.p.A; bioMérieux SA; and Siemens Healthcare GmbH

Coronary Stent Market Size Worth $11.3 Billion By 2027

The global coronary stents market size is expected to reach USD 11.3 billion by 2027, expanding at a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Increasing adoption of minimally invasive surgeries and percutaneous coronary intervention (PIC) procedures is expected to drive the market for coronary stents in the coming years. Moreover, increasing geriatric population is considered as a high impact rendering driver for the growth of this industry over the forecast period. Technological advancement in 2^nd generation drug eluting stents (DES) is further fueling the growth. Development of biodegradable and polymer free DES in order to increase patient compliance is expected to drive the market over the coming years.

The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare and Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service provider. From January 2020, Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in ambulatory surgical center (ASC), which is expected to boost market revenue over the forecast period.

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Further key findings from the report suggest:

In terms of revenue, the DES dominated the product segment as of 2019. New product launches and technological advancements in 2^nd gen DES are acting as the driving factor for this segment
Prices for the first-generation BVS (Bioresorbable Vascular Scaffold) are much high as compared to existing BMS (Bare Metal Stent) and DES. Due to its safety concern and high hospitalization rates, doctors are not preferring BRS over DES. Moreover, high crossing profile and bulky struts are factors majorly impeding the BRS market
Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Increase in disposable income and growing incidence of heart diseases will fuel market growth in the coming years
Some of the key companies present in the coronary stent market are Medtronic, Abbott, Boston Scientific, Terumo Corporation, Biotronik, and Microport Corporation
With USD 2.3 billion R&D expenditure in 2018, Abbott is anticipated to provide with technologically advanced second generation DES and may be BVS in near future.

Cochlear Implant Market Size To Reach $3.3 Billion By 2027

The global cochlear implant market size is expected to reach USD 3.3 billion by 2027, expanding at a CAGR of 10.6% from 2020 to 2027, based on a new report by Grand View Research, Inc. Increase in awareness regarding hearing impairment, growth in diagnosis rate, rise in bilateral fittings, and increase in government initiatives are likely to drive the market during the forecast period. Competition from technologically advanced, lightweight, and other effective hearing aids, bionic ear, and middle ear implants may pose a threat to cochlear implants.

The Center of Devices and Radiological Health (CDRH) is responsible for the regulation of cochlear implant devices. In January, 2020, The Society for Biomedical Technology (SBMT), Defence Research and Development Organization (DRDO), India is undertaking human trials for cochlear implant, which is expected to drive the market for cochlear implants in the country.

In developing countries, governments are undertaking initiatives to improve awareness and increase penetration of cochlear implants through various activities, such as providing reimbursement and coverage for cochlear implants. For instance, after the implementation of Tamil Nadu’s Chief Minister’s comprehensive health insurance scheme in India, it was observed that more than 2,000 children received cochlear implants between 2012 and 2015.

In December 2015, China Disabled Persons’ Federation ordered 2,000 cochlear implants from Neutron Biotechnology. This initiative was aimed at improving the lives of individuals with disability. Hence, such initiatives in developing and developed countries are likely to boost market growth during the forecast period. Increasing affordability and supportive reimbursement scenario create growth opportunities for market players to develop various innovative and effective products.

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Further key findings from the report suggest:

By type of fitting, unilateral implants accounted for the largest market share in 2019. Bilateral implants are expected to exhibit the fastest CAGR over the forecast period as they are preferred for pediatric patients when unilateral implants are ineffective and/or when meningitis is the cause of deafness
Based on end use, the adult segment accounted for the largest market share in 2019. The pediatric segment is expected to exhibit the fastest CAGR over the forecast period owing to relaxations in the use of cochlear implants among children
In 2019, Europe dominated the global market due to the presence of an advanced healthcare system in the European Union. The system allows children to receive cochlear implants before their first birthday. Moreover, people suffering from hearing loss have a greater tendency to develop mental health and social isolation issues
Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing usage of ototoxic drugs, increasing age-related hearing loss, and rising noise pollution
Key players are entering into collaborations to enhance their market presence. For instance, in November 2018, Cochlear Ltd. entered into a collaboration with GN Hearing to enhance the research on fast-moving connectivity and wireless technology.

Golf Gloves Market Size Worth $396.8 Million By 2027

The global golf gloves market size is anticipated to reach USD 396.8 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.13% from 2020 to 2027. At a macro level, the rising popularity of golf as a sport is contributing significantly to the demand for golf gloves worldwide. In 2018, approximately 4.2 million baby boomers played golf, which is an increase from 3.6 million in 2017. It was also observed that about 15.0% of newcomers in 2018 were older than 50, which was the most significant percentage in the last ten years. The participation of young adults stood at 6.1 million that year.

In terms of product, individual golf gloves emerged as the largest segment in 2019. With the sport increasingly embracing a passion for individuality, individual golf gloves have evolved to become a fashionable accessory. In the near term, numerous companies are expected to capitalize on this growing trend. Individual golf gloves are principally made using leather and are available in a wide variety of colors and sizes.

The promotional golf gloves segment is likely to expand at the fastest CAGR over the forecast period owing to the rising demand for premium gloves. As these gloves are intended for promotional purposes, they are relatively more expensive than the individual and institutional variants. They feature customized logos and are available in a wide range of color options and artwork. To get a sizable discount, prominent brands typically purchase these gloves in bulk. In recent years, several manufacturers of promotional golf gloves have been focusing on making these products more affordable to target a variety of consumers worldwide.

Asia Pacific is anticipated to emerge as the most lucrative regional market in the foreseeable future. Though the coronavirus outbreak has been creating massive supply chain disruptions in the Asia Pacific markets, rapidly evolving quarantine lifestyles within the region are likely to encourage more individuals to participate in golf in the near term. While the COVID-19 pandemic led to the closure of most golf courses worldwide, social distancing measures helped keep golf courses in Australia to remain open during the first quarter of 2020, with the only exception of clubs in Queensland.

The industry is highly competitive when it comes to product variation and pricing. Prominent market participants are focusing on employing lighter materials to manufacture golf gloves, given the rising popularity of breathable materials among consumers worldwide.

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Further key findings from the report suggest:

In terms of product, the individual golf gloves segment accounted for over 52.0% share of the overall revenue in 2019
North America held the largest share of over 57.0% in 2019
Product innovation emerged as the key strategy deployed by the majority of market players to stay abreast of the competition.

Vegan Women’s Fashion Market Size Worth $1,095.6 Billion By 2027

The global vegan women’s fashion market size is anticipated to reach USD 1,095.6 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.6% from 2020 to 2027. Increasing the inclination of people towards cruelty-free fashion is an important aspect of driving the demand for fashion apparel made from vegan material.

People in developed countries, especially in the U.S, the U.K., France, and Germany have become more receptive to the concepts of veganism and have been following this practice in all walks of life, including food habits and clothing. These consumers do not mind paying higher prices for vegan women’s fashion, thus fueling the growth of the market.

Enthused by the opportunity existence, companies pertaining to vegan fashion not only focus on providing the latest styles but also cater to cultural trends and burgeoning style quotient to attract a varied set of consumers through constant product launch. For instance, in August 2019, an Amsterdam-based denim brand called Kings of Indigo, announced itself to be a fully-vegan company with the launch of ‘no new cotton’ capsule collection- Re Gen, offering a limited edition of jeans and jacket collection for women, men, and kids. Such developments are expected to create a healthy demand for the product over the forecast period.

Based on the product, the vegan footwear segment led the market and accounted for 41.3% share of the global revenue in 2019. The growing popularity of animal safety among consumers has goaded established footwear manufacturers to offer elegant footwear made from natural ingredients to pique the interest of the informed customers. For instance, in November 2019, Reebok International Limited, a company owned by Adidas AG, unveiled the design for its first plant-based running shoe, called Floatride GROW. The upper part of the shoe is made primarily from eucalyptus whereas its soles are made from castor beans and natural rubber. The company had launched this design two years after it started selling a vegan version of its famed Newport Classic shoes made with cotton and corn.

By distribution channel, specialty stores dominated the market and accounted for 31.4% share of the global revenue in 2019. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, these stores keep their stores more updated with the latest vegan fashion trends in the market, thus attracting more consumers who are looking for variety in the product.

Covid-19 pandemic has affected the sales of vegan women’s fashion adversely as people have become more focused on their buying behavior and consider avoiding buying fashionable apparel or accessories. The vegan fashion market is in the burgeoning stage and has been severely impacted by the lockdown condition and supply chain disruption. According to the entrepreneur.com, the U.K. apparel sector is expected to be the worst affected with a decline of more than 41% in the usual spending by consumers since the outbreak of the coronavirus.

North America dominated the market for vegan women’s fashion and accounted for 34.6% share of the global revenue in 2019. Growth in the market is powered by the strong presence of manufacturers, including Whimsy & Row and Reformation, along with a well-developed supply chain in the region. Moreover, people in countries such as the U.S. have a large number of animal rights organizations, such as the American Society for the Prevention of Cruelty to Animals, and The Anti-Cruelty Society, which have been promoting the concept of veganism.

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Further key findings from the report suggest:

Europe is expected to expand at the fastest CAGR of 14.5% from 2020 to 2027. Social media marketing campaigns, growing preference for vegan women’s fashion apparel by millennials, and the presence of a large number of manufactures are expected to drive the market in the region. The U.K. and Germany are among the top two countries witnessing the growth of the market
The e-commerce segment is expected to emerge as the fastest distribution channel over the forecast period. The increasing availability of a wide number of vegan women’s fashion clothing and accessories of different brands at affordable prices on e-retailer platforms is one of the main factors fueling the segment growth.
The specialty store distribution channel segment held the leading revenue share in 2019. Adoption of key strategies such as offers and discounts by the market players along with the availability of a wide range of products is anticipated to attract a larger consumer base and fuel the growth of the segment
By product, the vegan footwear segment dominated the market and accounted for a share of 41.3% in 2019 as it is becoming more of a fashion statement among women. Moreover, increasing popularity of animal safety among consumers is fueling the demand for these products

Pasta Sauce Market Size Worth $17.33 Billion By 2027

The global pasta sauce market size is expected to reach USD 17.33 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.2% from 2020 to 2027. The rapid adoption of pasta as a main course in formal meals among working-class professionals and students is expected to remain a favorable factor for industry growth. Furthermore, an increasing number of vegans and vegetarians across the globe is one of the major factors driving the adoption of vegetable-based pasta sauce.

Consumers have been looking to include only plant-based items in their meals to reduce the impact on the environment as well as support animal welfare. Furthermore, increasing health complications resulting from the regular consumption of meat is compelling for people to opt for a vegetarian diet. Thus, vegetable-based pasta sauce, which includes a wide variety of plant-based ingredients, is expected to drive the market.

Product launches have played a vital role in assisting the wide penetration. For instance, in September 2019, FarmToFork launched its simple, clean label, sustainably grown tomato sauce. These products are non-GMO labeled certified products and they do not contain sugar as well as artificial flavors. The brand offers four flavorful varieties, including marinara, caramelized onion & roasted garlic, tomato basil, and spicy marinara at a retail price of USD 5.99 and USD 7.99.

Tomato-based and marinara pasta sauce dominated the market with a share of more than 25.0% in 2019. The product is expected to maintain its lead in the future owing to its low-calorie content and growing consciousness among consumers regarding including healthier food in a regular diet.

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Further key findings from the report suggest:

Based on the product, the alfredo and four cheese segment is expected to witness the fastest growth during forecast years with a CAGR of 4.1% from 2020 to 2027. Growing fondness towards cheese-based items across the globe is leading to increasing demand for the sauce
By base, the meat-based segment is expected to witness the fastest growth during forecast years with a CAGR of 3.6% from 2020 to 2027. Benefits pertaining to the consumption of meat and enhanced deliciousness of the sauce due to animal fat are leading to the rapid adoption of such products
Asia Pacific is expected to witness the fastest growth during forecast years with a CAGR of 4.7% from 2020 to 2027. Growing consumption of Italian foods in key markets, including China, Japan, and India, is expected to expand the scope of products, including pasta sauce, as a condiment in the near future
Europe dominated the market by accounting for over 30.0% share of the global revenue in 2019. Predominant consumption of Italian foods in the region is expected to have a favorable impact on industry growth.

Aloe Vera Drink Market Worth $183.5 Million By 2027

The global aloe vera drinks market size is expected to reach USD 183.5 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.3% from 2020 to 2027. Rising demand for healthy, nutritious, and ready-to-drink products among all age groups across the globe is the key factor for the market growth. Moreover, these drinks have excellent medicinal properties and can treat various skin and liver-related diseases. These medicinal properties of the product are also offering new scope for the global market.

Rising health consciousness among consumers owing to busy, stressful, and hectic lifestyles is fueling the demand for nutritious and healthy plant-derived drinks, such as aloe vera-based drinks. Moreover, shifting consumer predilection for healthy plant-derived drinks rather than high calorie and sugary carbonated drinks are offering lucrative growth opportunities for the market. These consumer trends are anticipated to boost demand in the global market. In addition, the product has excellent medicinal properties, which help to improve liver functioning, and is an excellent source of vitamins and minerals, like vitamins B, C, E, and folic acid.

Asia Pacific was the largest regional market, accounting for a share of more than 30.0% in 2019. Aloe-based juice or drink is a traditional drink, which is widely consumed in various countries, such as India, China, South Korea, and Japan, owing to its excellent medicinal properties. With the increasing popularity of healthy plant-based beverages among the young generation and working-class population, the demand for aloe vera drinks is anticipated to grow in the region over the forecast period.

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Further key findings from the report suggest:

Unflavored aloe vera drinks emerged as the largest product segment with a share of more than 60.0% in 2019 and are expected to maintain the lead over the forecast period. These drinks are widely consumed for medicinal purposes as they help in detoxing lever and have several digestive benefits
The flavored product segment is anticipated to witness the fastest growth, with a CAGR of 11.6% from 2020 to 2027. Rising consumer preference for healthy and nutritious plant-based beverages rather than sugary carbonated drinks is propelling the demand for the product in the region
The online sales channel is anticipated to be the fastest-growing distribution channel with a CAGR of 12.0% from 2020 to 2027. With rapid digitalization, rising penetration of smartphones, and growing internet access, businesses are gradually shifting from brick and mortar stores to e-commerce
North America is anticipated to be the fastest-growing region with a CAGR of 12.1% from 2020 to 2027. The obesity and overweight population in the U.S have been witnessing an increase, which is expected to expand the application scope of such products in weight management.