Medical Waste Management Market – Technology, Trend and Demand

 Health care is traditionally regarded as an important determinant in promoting the general physical, mental, and social well-being of people all over the world, and when efficient, it can contribute significantly to a country's economy, development, and industrialization. Healthcare is a rapidly expanding industry, mainly due to the growing sophistication of medical treatments & products and the increasing penetration of healthcare services. However, this booming industry is also producing more waste than ever before, resulting in the increased need to treat and dispose of this waste. Medical waste is produced during healthcare or diagnostic activities in hospitals & clinics, diagnostic & research laboratories, blood banks, mortuaries & autopsy centres, and long-term care facilities. Healthcare/medical waste includes hazardous and non-hazardous waste.

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The global geriatric population is on the rise due to increasing life expectancy. Improvements in the quality of care, rapid urbanization, and growing incomes have led to greater survival rates. According to the United Nations, in 2022, 771 million people were aged 65 years or over globally. This number is expected to increase from 771 million in 2022 to 994 million in 2030 and 1.6 billion in 2050.

The elderly population is more susceptible to various chronic diseases. According to the National Council on Aging (NCOA), around 80% of people over 65 have at least one chronic condition, while 68% have two or more. According to the International Diabetes Federation (IDF), globally, the number of people with diabetes is expected to increase from 537 million in 2021 to 643 million in 2030 and 783 million in 2045. Diabetes patients are required to monitor their blood sugar levels regularly and inject themselves with insulin to treat the disease, which leads to the generation of medical waste, such as lancet needles or syringes, insulin pen needles, injection vials or cartridges, and full needle clippers, every day. Similarly, the prevalence of cancer is rising all over the world. According to GLOBOCAN, in 2020, 19.3 million people were diagnosed with cancer globally, which is expected to increase to 24.6 million by 2030.

According to World Health Organization data, 85% of the waste produced in the healthcare sector is non-hazardous and regular waste. The remaining 15% constitutes waste that could be radioactive, infectious, or chemical, proving hazardous to the environment. According to the Centre for Science and Environment (CSE), biomedical waste generation in India increased from 559 tonnes per day in 2017 to 619 tonnes per day in 2019. Medical waste management helps reduce the spread of infectious medical equipment-borne diseases such as HIV/AIDS and hepatitis. Proper waste management strategies can help prevent the illegal trade of used syringes, injection needles, and medical instruments.

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Thus, the rising geriatric population and the consequent increase in chronic disease prevalence boost the demand for the diagnosis of these diseases for early detection, prevention, and treatment, generating medical waste and driving the demand for medical waste management services. The global medical waste management market is growing at a CAGR of 5.4% over the forecast period to reach $17.02 billion by 2030, according to the Meticulous Research^® report.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments that led market participants to adopt over the past three years. The key players profiled in the global medical waste management market report are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), GIC Medical Disposal, Inc. (Canada).

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Speech Analytics Market 2029 – Technology and Applications

 

Speech Analytics is the process of extracting meaningful insights from audio recordings and analyzing that data for relevant and meaningful business intelligence. The key applications of speech analytics include customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, and fraud detection & security applications. Speech analytics solutions are increasingly gaining traction due to their growing utilization across numerous industries, including contact & call centres, healthcare & life sciences, and media and entertainment.

According to a new market research report titled, ‘Speech Analytics Market by Component, Application, Organization Size, Deployment Mode, End-use Industry (IT & Telecommunication, BFSI, Retail & Consumer Goods, Healthcare & Life Sciences, Business Process Outsourcing)—Global Forecast to 2029’, the global speech analytics market is expected to register a CAGR of 20.1% from 2022 to 2029 to reach $14.1 billion by 2029.

 

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The growth of the global speech analytics market is driven by factors such as the surge in demand for speech analytics to improve contact center operations, the emergence of speech analytics to enhance fraud detection, and the rising demand for speech-based biometric systems during the COVID-19 pandemic. However, data privacy and security concerns represent a notable restraint for market growth. The increasing demand for speech analytics in the healthcare sector and the growing demand for cloud-based speech analytics solutions to bolster customer retention are expected to offer significant growth opportunities for the speech analytics market. Besides, limited use cases of real-time speech analytics at present, pose a serious challenge to the overall growth of the speech analytics market.

Speech analytics solution providers plan to capitalize on the lucrative market growth opportunities resulting from the COVID-19 pandemic. The speech analytics market is projected to transform drastically over the coming years, with several leading companies growing rapidly through new product launches, product enhancements, and partnerships and collaborations for capitalizing on the market growth.

 

The global speech analytics market is segmented by component (solutions [call center software, reporting and visualization tools, quality assurance & monitoring solutions, enterprise performance management solutions, customer experience solutions, customer engagement solutions, other solutions (root cause analysis solutions, customer journey management], services [professional services, managed services]), application (customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, fraud detection and security application, other applications (quality assurance, real-time alerting), organization size (small & medium-sized enterprises, large enterprises), deployment mode (on-premise deployment, cloud-based deployment), and end-use industry (IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, travel & hospitality, media & entertainment, business process outsourcing, education, other end-use industries). The study also evaluates industry competitors and analyzes the market at regional and country levels.

 

Based on component, the global speech analytics market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the larger share of the speech analytics market. The large share of this segment is attributed to the rising proliferation of speech analytics software in call centers, the growing demand for reporting and visualization tools across retail industries, and the increasing need for customer experience and engagement solutions. Additionally, the speech analytics solutions segment is expected to register the highest CAGR during the forecast period.

 

Based on application, the global speech analytics market is segmented into customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, fraud detection & security applications, and other applications (quality assurance, real-time alerting). In 2022, the sales and marketing management segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to the increasing need for improved customer experience in sales and marketing departments, the rising need for speech analytics solutions to identify effective patterns to close sales deals and develop a training program to mentor other team members, rising demand of call monitoring solutions for spotting competitive challenges, and growing need for identifying cross and upsell opportunities.

 

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Based on organization size, the speech analytics market is segmented into small & medium-sized enterprises and large enterprises. In 2022, the small & medium-sized enterprises segment is expected to account for the larger share of the global speech analytics market. The large share of this market segment is majorly attributed to the growing demand for improved operational efficiency in small customer service environments, growing demand for automating customer interactions in call center operations, and the growing proliferation of call recording and speech analytics technology in small organizations. Additionally, this segment is expected to register the highest CAGR during the forecast period.

 

Based on deployment mode, the speech analytics market is segmented into on-premise deployment and cloud deployment. In 2022, the cloud-based deployment segment is expected to account for a larger share of the global speech analytics market. The large share of this market segment is attributed to the growing demand for secure cloud-based speech analytics software, the rising need for cloud-based communication solutions, the increasing need to store and analyze data through cloud platforms, and the growing benefits offered by highly sophisticated cloud-based speech analytics software.

 

Based on end-use industry, the global speech analytics market is segmented into IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, travel & hospitality, media & entertainment, business process outsourcing, education, others (FMCG, automotive). In 2022, the IT & telecommunications segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to increasing demand for speech analytics solutions by telecom companies to gather more actionable information in less time, increasing demand to boost customer retention by building loyalty and maintaining customer relationships, and growing popularity for solutions to implement protocols to seize opportunities for cross-selling and upselling in IT & telecom industry. However, the business process outsourcing segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to factors such as the growing demand to resolve simpler customer queries using AI-based chatbots and the increasing proliferation of speech analytics solutions to monitor agent performance and assess call quality.

 

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Based on geography, the global speech analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, North America is expected to account for the largest share of the global speech analytics market. The large market share of this region is attributed to the increasing adoption of emotion analysis solutions in customer experience management; expansion of e-commerce platforms; growing focus on customer satisfaction; rising demand for speech analytics software to maintain inbound, outbound, and blended calls, e-mails, web inquiries, and chats; increasing demand for self-service interactions among customers; growing popularity for healthcare fraud analytics and detection solutions across the region; and growing demand for reporting and visualization tools by region's flourishing retail and e-commerce sectors. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the growing technology expenditures in countries such as Australia, China, and India, increasing demand for cost-effective analytical software and services among small and medium-sized enterprises (SMEs), and increasing usage and consciousness of speech and voice recognition devices in the automotive sector.

 

The key players operating in the global speech analytics market are NICE Ltd. (Israel), Verint Systems Inc. (U.S.), CallMiner, Inc. (U.S.), Genesys Cloud Services, Inc. (U.S.), Avaya Holdings Corp. (U.S.), Audio Analytic Ltd. (U.K.), Calabrio, Inc. (U.S.), Batvoice Technologies (France), Qualtrics, LLC (U.S.), Dialpad, Inc. (U.S.), WinterLight Labs (Canada), The Plum Group, Inc. (U.S.), Aural Analytics, Inc (U.S.), Amazon.com, Inc. (U.S.), Uniphore Technologies Inc. (India), Intelligent Voice Ltd (U.K.), Kwantics (India), Gnani Innovations Private Limited (India), and SAS Institute Inc. (U.S.).

 

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Plant Breeding Market Worth $33.79 million by 2029

     

According to a new market research report titled, ‘Plant Breeding Market, by Method (Conventional, Biotechnological), Trait (Herbicide Tolerance, Disease Resistance), Application (Cereals and Grains, Oilseed & Pulses, Fruits and Vegetables), Geography–Global Forecast to 2029,’ the plant breeding market is projected to reach $33.79 million by 2029, at a CAGR of 14.1% from 2022 to 2029.

 

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Plant breeding techniques are used by cultivators to develop or improve the crop variety and to increase its yield by manipulating the plant genome using conservatory or molecular tools to get the desired gene or trait. Plant breeding techniques use site-directed nucleases to transform or target the DNA into desired DNA with extreme perfection. The crops produced by plant breeding produce higher yields and have better disease resistance. Plant breeding techniques are increasingly being adopted to enable sustainable crop production.

 

The plant breeding market is segmented based on method (conventional breeding method [hybridization {pedigree method, bulk method, and other hybridization methods}, selection {mass selection, pure line selection}, mutation breeding], biotechnological breeding method [hybrid breeding, molecular breeding, genetic engineering, and genome editing]), by trait (herbicides tolerance, disease resistance, temperature tolerance, drought resistance, and other traits), by application (cereals & grains [maize/corn, wheat, rice, and other cereals & grains], fruits & vegetables, oilseeds & pulses, turf & ornaments, and other crop types), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa). The study also evaluates industry competitors and analyses the market at the country level.

The Impact of COVID-19 on the Plant Breeding Market

The COVID-19 pandemic had adverse effects on the global economy as it impacted the production of various products. The constraints on transportation & logistics caused by the COVID-19 pandemic negatively impacted the plant breeding market. The prolonged duration of lockdowns, mainly in Asian and Latin American countries, disrupted the supply and demand chain, affecting the supply of plant breeding products.

Furthermore, the restrictions on movements made it difficult for manufacturers to distribute their plant-breeding agricultural products to farmers, making it difficult for farmers to produce crops. The restrictions on trading and supply of products also impacted the supply chain of global manufacturers, such as Bayer AG (Germany) and Syngenta AG (Switzerland), mainly in Asia-Pacific and Latin America. Thus, during the COVID-19 pandemic, Asian and Latin American countries experienced a decline in the plant breeding market’s growth.

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When the COVID-19 outbreak was at its peak, farmers incurred huge losses as there was a significant decline in crop production due to restrictions on movement. Thus, there has been a rising demand for new variety crops that offer higher yields among farmers. Most farmers are also becoming aware of the benefits offered by the crops produced from plant breeding. Furthermore, there has been a significant increase in government support to promote the adoption of plant breeding techniques. Thus, governments in developing countries have set up seed banks at the national and village levels to store seeds that have been properly treated with seed treatment chemicals to prevent seed rotting.

Key Findings in the Plant Breeding Market Study:

Based on method, in 2022, the biotechnological breeding method segment is expected to account for the larger share of the plant breeding market. The large market share of this segment is attributed to the rising adoption of hybrid and molecular breeding techniques and the increase in the cultivation of GM crops worldwide. Furthermore, the growing demand for crop genetics and the declining costs of genetic procedures in the past decade drive the demand for genetic engineering and genome editing worldwide.

Based on traits, in 2022, the herbicide tolerance segment is expected to account for the largest share of the plant breeding market. The large market share of this segment is attributed to the stringent regulations regarding the use of chemical pesticides and the rising instances of pest attacks during the early germination phase, resulting in an increased need for pesticide-tolerant seeds. Generally, herbicide tolerance has been one of the major traits targeted by plant genetic companies for transgenic and non-transgenic crops. Furthermore, this segment is also slated to register the highest CAGR during the forecast period of 2020–2029. The growth of this segment is attributed to the increasing initiatives by major plant genetic companies to develop herbicide tolerance traits for transgenic and non-transgenic crops. For instance, the Non-transgenic Clearfield herbicide tolerance technology, developed by BASF SE (Germany) and Syngenta AG (Switzerland), is recognized as a groundbreaking innovation in hybrid breeding technology.

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Based on application, in 2022, the cereals & grains segment is expected to account for the largest share of the plant breeding market. The large market share of this segment is attributed to the increasing demand for cereals & grains from the growing population. Furthermore, the availability of germplasm for these crops encourages the adoption of advanced techniques for crop breeding. The economic importance of corn due to its application in various sectors and the increasing demand for high-quality wheat & rice in the food sector are factors driving the adoption of hybrid breeding technologies among cereals and grain seed producers. 

Based on geography, the plant breeding market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the plant breeding market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America’s major market share is attributed to the presence of key market players, the increasing investments in R&D activities, and the wide availability of diagnostic imaging laboratories. Furthermore, the adoption rate of genetic modification techniques in the U.S. is high due to the growing industrial value of corn & soybean, encouraging breeders to adopt advanced technologies for better yield. In addition, the large areas under corn & wheat cultivation and the growing demand for GM corn & wheat varieties are driving the growth of the plant breeding market in the U.S.

Some of the key players operating in the plant breeding market report are Bayer AG (Germany), Syngenta AG (Switzerland), KWS Group (Germany), Corteva Agriscience (U.S.), Limagrain (France), BASF SE (Germany), DLF Seeds A/S (Denmark), Bioceres Crop Solutions (Argentina), UPL Limited (India), Benson Hill, Inc. (U.S.), Equinom Ltd. (Israel), BioConsortia, Inc. (U.S.), Hudson River Biotechnology (Netherlands), among others.

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Water Quality Testing Market to be Worth $5.1 Billion by 2030

 

According to a new market research report titled, ‘Water Quality Testing Market by Offering, Test Type (Physical Test, Chemical Test), Device Type, Product Type (pH Meter, TOC Analyzer), Sector (Laboratory, Government, Environmental Institutes, Industrial Sector)—Global Forecast to 2030,’ the water quality testing market is projected to reach $5.1 billion by 2030, at a CAGR of 6.4% during the forecast period of 2023 to 2030.

 

The main goal of testing water quality is to protect humans and the ecosystem from harmful and toxic elements found in water. Water testing facilities use various processes (e.g., physical, chemical, and biological) to test industrial and municipal wastewater, identify contaminants, and analyse the polluted water. The test helps ensure that the water used in various sectors is safe.

 

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In recent years, the rapid population growth and urbanization, the growing emphasis on water quality and public health, the increasing prevalence of water-borne diseases, the increase in industrial demand, and stringent governmental regulations on treating wastewater have boosted the demand for water quality testing equipment.

 

In this market study, all recent dynamics associated with water quality testing were thoroughly analyzed to precisely estimate the future of the water quality testing market. This study also includes profiling key water quality testing stakeholders and segmenting them based on their market standings.

 

Based on offering, in 2023, the solutions segment is expected to account for the larger share of the water quality testing market. The large market share of this segment is attributed to the growing adoption of innovative & advanced solutions and high investments in the R&D of water testing equipment. This segment is also projected to register the highest CAGR during the forecast period.

 

Based on test type, in 2023, the physical test segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of advanced technologies that mainly focus on developing physical testing kits. However, the chemical test segment is projected to register the highest CAGR during the forecast period.

 

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Based on device type, in 2023, the portable device segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing demand for portable water testing equipment that can be carried out in the field or in a temporary laboratory to analyze physical, chemical, and microbiological contaminants. This segment is also projected to register the highest CAGR during the forecast period.

 

Based on product type, in 2023, the pH meter segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of pH meters in various industrial sectors and the rising concerns about the adverse effects of acidic or alkaline water in industrial settings. However, the TOC analyzer segment is projected to register the highest CAGR during the forecast period.

 

Based on sector, in 2023, the industrial sector segment is expected to account for the largest share of the Water quality testing market. The large market share of this segment is attributed to increasing industrialization and urbanization, declining freshwater resources, and a rising focus on water quality and public health. This segment is also projected to register the highest CAGR during the forecast period.

 

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Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global water quality testing market. Asia-Pacific’s significant market share can be attributed to various factors, including the increasing environmental deterioration, declining availability of clean water, rising public-sector investment in water infrastructure, and growing research and development expenditures. This market is also projected to register the highest CAGR during the forecast period.

 

The key players operating in the water quality testing market are Horiba, Ltd. (Japan), Mettler-Toledo International, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), Tintometer GmbH (Germany), Bureau Veritas (France), Neogen Corporation (U.S.), ALS Limited (Australia), LaMotte Company (U.S.), SGS Société Générale de Surveillance SA (France), Eurofins Scientific SE (Luxembourg), Intertek Group plc (U.K.), Chemetrics, Inc. (U.S.), Geotech Environmental Equipment Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Applied Membranes, Inc. (U.S.).

 

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5G Infrastructure Market to be Worth $150.9 Billion by 2030

 

According to a new market research report titled, ‘5G Infrastructure Market by Component (Base Station, Radio Access Network [RAN], Transport Network, Core Network), Network Architecture (5G NR Standalone, 5G NR Non-Standalone), and Spectrum - Global Forecast to 2030,’ the 5G infrastructure market is expected to reach $150.9 billion by 2030, at a CAGR of 34.8% during the forecast period of 2023 to 2030.

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5G infrastructure consists of a network of small-cell and macrocell base stations with a combination of Radio Access Network (RAN), core network, and backhaul & transport. It is an evolution from the current 4G LTE networks to the fifth-generation cellular networks. The demand for 5G infrastructure is increasing worldwide as it provides higher multi-Gbps peak data speeds, ultra-low latency, more reliability, massive network capacity, increased availability, and a uniform user experience.

 

The 5G infrastructure market is driven by the increasing demand for M2M connections across the industrial sector and government investments in the 5G network. Furthermore, the execution of multiple smart city projects worldwide is expected to offer significant growth opportunities for the 5G infrastructure market. Additionally, the rapid adoption of cloud computing across SMEs and the growth of IoT technology are major trends in the 5G infrastructure market.

 

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Based on component, in 2023, the hardware segment is expected to account for the largest share of the 5G infrastructure market. The large market share of this segment is attributed to the rapid deployment of 5G RAN with small cell base stations and the increasing implementation of virtual RAN among network service providers to reduce network complexities. The hardware segment is also expected to register the highest CAGR over the forecast period.

 

Based on network architecture, in 2023, the 5G NR Non-standalone (NSA) segment is expected to account for the largest share of the 5G infrastructure market. The large market share of this segment is attributed to the rising need for higher data transfer speeds to provide reliable communication to wireless devices. However, the 5G NR Standalone (SA) segment is projected to register the highest CAGR over the forecast period.

 

Based on spectrum, in 2023, the 2 GHz to 6 GHz segment is expected to account for the largest share of the 5G infrastructure market. The large market share of this segment is attributed to the increasing investments of communication service providers to offer a mid-band spectrum. Also, the spectrum segment is expected to grow at the highest CAGR over the forecast period.

 

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Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global 5G infrastructure market. The growth of this regional market is attributed to supportive government initiatives, the presence of prominent players offering 5G infrastructure in the region, and the growing adoption of advanced technologies such as IoT and M2M communication. Additionally, the infrastructural growth in APAC, especially in China, South Korea and Japan, and the increasing investments in 5G network technology and smart cities initiatives in developed and developing countries offer significant opportunities for the 5G infrastructure market’s growth. This regional market is also slated to register the highest CAGR during the forecast period.

 

Some of the key players operating in the 5G infrastructure market are Telefonaktiebolaget LM Ericsson (Sweden), Cisco Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), AT&T Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), T‑Mobile US, Inc. (U.S.), Ciena Corporation (U.S.), ZTE Corporation (China), Nokia Corporation (Finland), CommScope Inc. (U.S.), Vodafone Limited (U.K.), NEC Corporation (Japan), American Tower Corporation (U.S.), MediaTek Inc. (Taiwan), and Comba Telecom Systems Holdings Ltd. (China).

 

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U.S. Real-World Evidence (RWE) Solutions Market Worth $2.22 billion by 2029

 

Meticulous Research^®– leading U.S. market research company published a research report titled “U.S. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology, Post Market Surveillance), End User (Pharma Companies, Providers)- Forecast to 2029.”

According to this latest publication from Meticulous Research®, the U.S. real-world evidence (RWE) solutions market is expected to grow at a CAGR of 13.1% from 2022 to 2029 to reach $2.22 billion by 2029. Rapidly growing big data in healthcare, shift from volume to value-based care, and rising focus towards personalized healthcare have been considered to positively impact the U.S. RWE solutions market. However, one of the biggest challenges in the market is the lack of standard principles for the design, conduct, analysis, and reporting of RWE. This lack of consensus may affect the quality of the clinical trial studies to determine the comparative effectiveness of different treatment options.

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The U.S.RWE solutions market study presents historical market data in terms of values (2020 and 2021), estimated current data (2022), and forecasts it for 2029–by Component (Datasets and Consulting Services), Application (Market Access & Reimbursement/Coverage Decisions, Drug Development & Approvals, Post Market Surveillance, Medical Device Development & Approvals, and Clinical and Regulatory Decision-making), and End User (Pharmaceutical, Biotechnology, and Medical Device Companies, Healthcare Payers, Healthcare Providers, and Other End Users).

Based on component, the datasets segment is expected to account for the largest share of the U.S.RWE solutions market in 2022. The large share of this segment is primarily attributed to the increasing need for additional insights on epidemiology, compliance, adherence, and costs in a realistic environment; the growing amount of medical data generated in hospitals; increasing dependence of outcome-based studies on real-world data; and rising demand for information regarding drug safety among payers, regulatory bodies, and providers.

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Based on application, the market access & reimbursement/coverage decisions segment is expected to account for the largest share of the U.S. RWE solutions market in 2022. The large share of this segment is primarily attributed to the increasing demand for real-world data and real-world evidence to accelerate drug discovery and development, increasing investments by biopharmaceutical companies in R&D, and the growing inclination of regulatory bodies towards the use of real-world evidence (RWE). Both industry and payers are increasingly considering real-world data (RWD) in the U.S. Payers use the data to support coverage decisions, develop guidelines and decision support tools for use in clinical practice, generate estimates of the potential population they cover that could require the treatment, and estimate potential costs and cost offsets.

Based on end user, the pharmaceutical & medical device companies segment is expected to account for the largest share of the U.S. RWE solutions market in 2022. The large share of this segment is mainly attributed increasing importance of RWE studies in drug development & approvals and the growing need to avoid costly drug recalls and assess drug performance in real-world settings. The healthcare landscape continues to shift from volume to value-based care and is continuously developing. Pharmaceutical companies have been looking for new ways to provide the best treatments for patients. Real-world evidence helps understand real-life clinical practices and actual health outcomes of drugs. Pharmaceutical and biotech companies are increasingly utilizing real-world evidence for collecting real-time post-trial information about drugs, which helps healthcare providers and researchers understand the negative reactions, side effects, and medication errors related to the drugs, thereby enabling them to control the potential harm caused by the drugs.

Key companies operating in the U.S.RWE solutions market are Anthem, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), ICON plc (Ireland), IQVIA HOLDINGS INC. (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health, Inc. (U.S.).

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Automated Material Handling Systems Market to be Worth $70.1 Billion by 2030

 

According to a new market research report titled, ‘Automated Material Handling Systems Market by Type (ASRS, AGV, Robotic Systems), Component, Function (Assembly, Picking, Sorting), End-use Industry (Automotive, Healthcare, Semiconductor, Manufacturing, Retail, Aviation, Postal) - Global Forecast to 2030,’ the automated material handling systems market is expected to reach $70.1 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.

 

Automated material handling systems (AMHS) are crucial in optimizing supply chain management by integrating robotics and automation into production lifecycles. These systems enable businesses to enhance efficiency, safety, and overall productivity. Industries across different sectors are actively exploring ways to remain competitive, accelerate production, and enhance product quality. The deployment of AMHS offers numerous benefits, including reduced downtime, increased productivity, and enhanced accuracy. These systems are used by diverse end-user sectors seeking to improve operational efficiency and effectiveness.

 

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The automation industry has long been considered one of the largest contributors to global technological developments, and it is expected to continue its steady growth in the coming years. The study mainly focuses on the different types of automated material handling systems deployed for automation purposes.

 

The growth of the AMHS market is driven by the increasing focus on improving floor space utilization and order processing capabilities and the rising demand for warehouse automation. Implementing AMHS can increase operational efficiency, reduce costs, improve accuracy, and provide a safer work environment. These benefits contribute to a more streamlined and responsive supply chain, enabling organizations to meet customer demands better and stay competitive in a dynamic business landscape.

 

However, the high initial costs of AMHS deployment restrain the growth of this market. The growing significance of online retail platforms and associated supply chains, the increasing utilization of RFID and barcode technologies, the integration of cloud and IoT technologies in AMHS, and the advent of Industry 4.0 are expected to generate growth opportunities for the players operating in this market. However, the expansion and automation of warehouses without hampering operations and cybersecurity risks are challenges for the growth of this market. Additionally, the increasing adoption of Robots as a Service (RaaS) is a prominent trend in the AHMS market. 

 

The AHMS market is segmented by type (automated storage & retrieval systems {unit load AS/RS, [fixed-aisle and movable-aisle], mini-load ASRS, multi-shuttle load, vertical lift modules (VLM), carousels [horizontal carousels and vertical carousels], and micro-load ASRS}, vehicle systems {automated guided vehicles (AGV) [laser-guided vehicles, magnet-guided vehicles, vision-guided vehicles, inductive-guided vehicles, and other guided vehicles] and rail guided vehicles (RGV)}, conveyor & sortation systems {conveyor systems [belt systems, roller systems, pallet systems, overhead systems, and other conveyor systems] and sortation systems}, palletizing & depalletizing systems, and robotic systems), component (hardware, software, and services), function (assembly, picking, sorting, packaging, shipping, receiving, and storing), end-use industry (automotive, electronics & semiconductors, retail & warehousing/logistics, general manufacturing, aviation, chemical, rubber, and plastic, healthcare & pharma, food & beverage, postal & parcel, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

 

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Based on type, the global AHMS market is segmented into automated storage & retrieval systems, vehicle systems, conveyor & sortation systems, palletizing & depalletizing systems, and robotic systems. In 2023, the robotic systems segment is expected to account for the largest share of the AHMS market. The large share of this segment is mainly attributed to the growing adoption of automation in manufacturing, increasing use of robotic systems to handle hazardous tasks, improved overall equipment effectiveness (OEE), increased production output, and advancements in robotics technology.

 

However, the vehicle systems segment is projected to record the highest CAGR during the forecast period, mainly due to factors such as the increasing adoption of AGVs in various industries, including automotive and manufacturing, the growing need for automated material movement, enhanced production output, faster cycle times, and reduced labor costs, and increasing industrial growth in emerging economies.

 

Based on component, the global AMHS market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the global automated material handling systems market. The segment’s large share is mainly attributed to the increasing demand for industrial hardware components such as programmable logic controllers (PLCs) and sensors, rapid industrialization, and the rising need for robust industrial hardware for networking and data storage, and processing.

 

However, the software segment is projected to record the highest CAGR during the forecast period, mainly due to the increasing need for remote monitoring and control, seamless integration, connectivity between different components of automated material handling systems, real-time visibility into inventory levels, automated workflows, and efficient utilization of resources. Also, the increasing need to manage and schedule tasks, including picking, sorting, packing, storage, retrieval, and transportation, ensure consistent and efficient execution of operations, reduce manual errors, and enforce compliance with operational guidelines drives the segment’s growth.

 

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Based on function, the global AHMS market is segmented into assembling, picking, sorting, packaging, shipping, receiving, and storing. In 2023, the picking segment is expected to account for the largest share of the global automated material handling systems market. The segment’s large share is mainly attributed to the growing need to ensure accurate inventory tracking, efficient replenishment, and timely reordering to avoid stockouts and backorders, reduce the time taken to pick & pack items, enable faster order processing & shipping, optimize the picking process, and maximize overall throughput in warehouse and distribution center operations.

 

Moreover, the picking segment is also projected to record the highest CAGR during the forecast period.

 

Based on end-use industry, the global AHMS market is segmented into automotive, electronics & semiconductor, general manufacturing, retail & warehousing/logistics, aviation, chemical, rubber, and plastic, healthcare & pharma, food & beverage, postal & parcel, and other end-use industries. In 2023, the automotive segment is expected to account for the largest share of the global AHMS market. The segment’s large share is mainly attributed to automotive companies’ increasing need to optimize material flow, reduce manual labor, improve production efficiency, inventory management, and overall supply chain efficiency, and automate material handling tasks such as conveying, sorting, palletizing, depalletizing, and storage/retrieval for smooth production flow and minimal inventory buildup.

 

However, the healthcare & pharma segment is projected to record the highest CAGR during the forecast period, mainly due to the growing need for accurate tracking, tracing, and handling of pharmaceuticals and medical supplies and improving efficiency and safety in processes, including pharmaceutical and medical manufacturing and distribution, and hospital operations.

 

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Based on geography, the global AHMS market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global AHMS market, followed by Europe, North America, Latin America, and the Middle East & Africa. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the rapidly transforming manufacturing and warehousing infrastructure, increasing investments in several innovative technologies, consistent technological advancements, increasing emphasis on robotics & automation, and growing e-commerce sector.

 

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants in the last three to four years. The key players operating in the automated material handling systems market are SSI SCHÄFER AG (Germany), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH & Co. KG (Germany), Swisslog Holding AG (Switzerland) (A Part of KUKA AG), TGW Logistics Group GmbH (Austria), WITRON Service GmbH & Co. KG (Germany), Kardex Holding AG (Switzerland), E80 GROUP S.P.A. (Italy), System Logistics S.p.A. (Italy) (A Part of Krones AG), DMW&H (U.S.), viastore SYSTEMS GmbH (Germany), Lödige Industries GmbH (Germany), Stöcklin Logistik AG (Switzerland), Jungheinrich AG (Germany), Mobile Industrial Robots A/S (Denmark).

 

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Electric Vehicle Charging Stations Market to be Worth $159.7 Billion by 2030

 

According to a new market research report titled, ‘Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DC Fast Charging), Connection Type, Component, Mounting Type (Wall, Pedestal, Ceiling), Vehicle Type, End User, and Geography - Global Forecasts to 2030,’ the global electric vehicle charging stations market is projected to reach $159.7 billion by 2030, at a CAGR of 28.9% from 2023 to 2030.

Electric vehicle charging stations are defined as a site where one or more EVSEs are installed. These sites can be residential, non-residential, or commercial. Electric vehicle charging stations provide electric power to the vehicle and use that to recharge the vehicle's batteries. An electric vehicle charging station, commonly called a charging dock, charging pile or EVSE, includes the electrical conductors, related equipment, software, and communications protocols that deliver energy efficiently and safely to the vehicle.

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The growth of the electric vehicle charging stations market is driven by government initiatives to promote EV adoption and the development of associated infrastructure, the rising demand for EV fast-charging infrastructure, the growing implementation of vehicle-to-grid charging stations, and the increasing EV deployment by shared mobility operators. However, the high installation costs of EV charging stations restrain the growth of this market. The increasing adoption of electric mobility in emerging economies and the growing deployment of charging stations by retail MNCs are expected to generate growth opportunities for the players operating in this market. However, high electricity tariffs in developing countries are a major challenge for market growth. Additionally, electric vehicle charging stations powered by renewable energy are a prominent trend in this market.

The global electric vehicle charging stations market is segmented by component (hardware [electric vehicle supply equipment {EVSE}, electrical distribution systems, cable management systems], software [charging station management systems {CSMS}, interoperability solutions, open charge point protocol {OCPP}, smartphone applications]), services (maintenance services, system integration, and installation services); charging type (Level 1, Level 2, DC fast charging); connection type (pantograph, connectors, wireless charging [static wireless EV charging, dynamic wireless EV charging]); mounting type (wall mount, pedestal mount, ceiling mount); vehicle type (passenger cars, heavy commercial vehicles, light commercial vehicles, two-wheelers & scooters); end user (commercial EV charging stations [commercial public EV charging stations {on-road charging stations, parking space stations, destination charging stations}, commercial private EV charging stations {fleet charging, captive charging}], residential EV charging stations); and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on component, the global electric vehicle charging stations market is broadly segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the rising adoption of EVs, the increasing deployment of EV charging stations, and the increasing government initiatives aimed at electrifying public bus fleets and deploying associated charging infrastructure. However, the software segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by various factors, such as the increasing need for transparency in electricity consumption and demand charges, the growing need for managing EV fleets in real time, charging reports & insights, maintenance & support, and the increasing deployment of smart remote charging stations.

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Based on charging type, the global electric vehicle charging stations market is broadly segmented into Level 1, Level 2, and DC fast charging. In 2023, the Level 2 segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increased adoption of Level 2 chargers for residential and commercial applications. These chargers offer faster charging speeds than Level 1 chargers. Furthermore, government incentives and regulations aimed at promoting the installation of Level 2 chargers contribute to the significant market share of this segment. However, the DC fast charging segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as government rebates on the purchase of DC fast charging stations, increasing investments from automakers in the development of DC fast charging station infrastructure to support their long-range battery-electric vehicles, the need for significantly faster charging, and the increasing installation of DC fast chargers in public locations including highways, shopping centers, restaurants, and other high-traffic areas.

In terms of volume, in 2023, the Level 2 segment is expected to account for the largest share of the electric vehicle charging stations market. The large market share of this segment is attributed due to various factors such as government rebates on the purchase of DC fast charging stations, increasing investments from automakers towards the development of DC fast charging station infrastructure to support their long-range battery-electric vehicle, the need to provide significantly faster charging compared to Level 2 chargers, and increasing installation of DC fast chargers in public locations along highways, shopping centers, restaurants, and other high-traffic areas. However, the DC fast charging segment is projected to register the highest CAGR during the forecast period.

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Based on connection type, the global electric vehicle charging stations market is broadly segmented into pantograph, connectors, and wireless charging. In 2023, the connectors segment is expected to account for the largest share of the global electric vehicle charging stations market. The growth of this segment is attributed to the increasing development and adoption of standardized connector types to ensure compatibility between charging stations and electric vehicles, the increasing need for faster charging connectors compatible with high-power DC fast charging, the growing need for reliable connectors to minimize the risk of electrical faults, overheating, and other potential hazards, and dynamic international standards and regulations for promoting a harmonized charging infrastructure worldwide. Moreover, the connectors segment is projected to register the highest CAGR during the forecast period.

Based on mounting type, the global electric vehicle charging stations market is broadly segmented into wall mount, pedestal mount, and ceiling mount. In 2023, the wall mount segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing use of either Level 1 or Level 2 electric vehicle supply equipment (EVSE) and the increasing need for high-speed charging in a compact, affordable, and scalable package. Moreover, the wall mount segment is projected to register the highest CAGR during the forecast period.

Based on vehicle type, the global electric vehicle charging stations market is broadly segmented into passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters. In 2023, the passenger cars segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles, environmental concerns and emission regulations, advancements in EV battery technology, and expansion of charging infrastructure networks. However, the two-wheelers & scooters segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by various factors, such as the increasing popularity of electric scooters and 2-wheelers, the rising need for cost-effective and nimble modes of transportation.

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Based on end user, the global electric vehicle charging stations market is broadly segmented into commercial EV charging stations and residential EV charging stations. In 2023, the commercial EV charging stations segment is expected to account for the larger share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles in commercial fleets for cost savings and reduced emissions, government regulations and incentives for electric vehicle adoption in commercial fleets, infrastructure development for shared mobility services, and installations of commercial EV charging stations for cost savings and reduced emissions. Moreover, the commercial EV charging stations segment is slated to register the highest CAGR during the forecast period.

Based on geography, the electric vehicle charging stations market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global electric vehicle charging stations market in terms of volume and value. Asia-Pacific’s major market share is attributed to the growing demand for electric vehicles in countries such as China and Japan and the rising government initiatives to reduce greenhouse gas emissions, which, in turn, is poised to increase electric vehicle adoption. Moreover, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period.

The key players operating in the global electric vehicle charging stations market are ChargePoint Holdings, Inc. (U.S.), Tesla, Inc. (U.S.), BP p.l.c. (U.K.), EVgo Inc. (U.S.), Shell Plc (U.K.), Électricité De France (France), EVBox Group (Netherlands), Electrify America LLC (U.S.), AddÉnergie Technologies, Inc. (Canada), Connected Kerb Limited (U.K.), Hangzhou AoNeng Power Supply Equipment Co. LTD. (China), Webasto Group (Germany), EV Charging Installers of America LLC (U.S.), Wanbang Xingxing Charging Technology Co., Ltd. (China), ABB Ltd. (Switzerland), Siemens AG (Germany), and Blink Charging Co. (U.S.).

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North America Electric Vehicle Charging Stations Market by Component, Charging Type, Connection Type (Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars, Two-wheelers & Scooters), End User and Geography - Forecast to 2030 @ https://meticulousblog.org/top-10-companies-in-north-america-electric-vehicle-charging-stations-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=23-10-2023

 

Managed Security Services Market to Be Worth $75.1 Billion by 2030

 According to a new market research report titled, ‘Managed Security Services Market by Service Type (Managed Detection and Response, Managed Identity and Access Management), Security Type (Cloud Security, Endpoint Security), Sector (BFSI, and Healthcare), and Geography - Global Forecast to 2030,’ the managed security services market is projected to reach $75.1 billion by 2030, at a CAGR of 18% from 2023–2030.

 

Managed security services (MSS) is a model to monitor and manage security devices, systems, and software-as-a-service (SaaS) applications. These services have gained popularity among corporate infrastructures, enabling businesses to scale their business continuity.

 

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The growth of the managed security services market is driven by the growing adoption of managed security services in the BFSI sector, rising cybercrimes and ransomware attacks, the rising trend of BYOD (bring your own device) in enterprises, and government initiatives aimed at encouraging the adoption of managed security services. However, the lack of trust among enterprises in giving full control of their system architecture to third-party service providers restrains the growth of the managed security services market.

 

Furthermore, the rising demand for advanced cybersecurity measures and the increasing adoption of cloud-based solutions among SMEs are expected to create growth opportunities in the market. However, one of the major challenges for the players operating in this market is the lack of awareness and misconceptions regarding managed security services among potential customers.

 

The managed security services market is segmented by service type (managed identity and access management, managed detection and response, managed threat hunting, managed security information and event management, managed firewall, and other service types), security type (cloud, application, endpoint, network, and other security types), organization size (large enterprises and small & medium-sized enterprises), and sector (BFSI, retail, IT & telecommunications, government, healthcare, energy & utilities, manufacturing, and other sectors.) The study also evaluates industry competitors and analyzes the market at the regional and country levels.

 

Based on service type, in 2023, the managed detection and response segment is expected to account for the largest share of the managed security services market. The large market share of this segment is attributed to the rising need to monitor network traffic for signs of a possible attack, the growing demand for data protection in various sectors, and growing security breaches and cyber-attacks.

 

However, the managed identity and access management segment is slated to register the highest CAGR during the forecast period. The rising security breaches and identity-related frauds and the rising adoption of cloud-based identity management services are expected to support the growth of this segment.

Based on security type, in 2023, the network security segment is expected to account for the largest share of the managed security services market. The large market share of this segment is attributed to the increasing demand for filtering & monitoring network traffic, the growing need for network security and privacy, and the rising need to protect connected network infrastructure.

 

However, the cloud security segment is slated to register the highest CAGR during the forecast period. The rising need to protect data and connected devices from cyberattacks, malware, hackers, and unauthorized user access through cloud-based security services is expected to support this segment's growth.

 

Based on organization size, in 2023, the large enterprises segment is expected to account for the larger share of the managed security services market. The large market share of this segment is attributed to the high spending capabilities of large enterprises resulting in the increased adoption of managed security services and the availability of skilled IT personnel to manage security platforms. Furthermore, large enterprises focus on desired security channels against data breaches to retain customers, boost sales, and validate necessary steps to overcome market interruptions, which drives the increased adoption of managed security services among large enterprises.

 

 However, the small & medium enterprises segment is slated to register a higher CAGR during the forecast period. The rising awareness about the significance of managed security services is expected to support the growth of this segment.

 

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Based on sector, in 2023, the BFSI segment is expected to account for the largest share of the managed security services market. The large market share of this segment is attributed to the rising fraudulent activities, rising adoption of managed security services for various financial processes, and rising demand for fraud detection. However, the healthcare segment is slated to register the highest CAGR during the forecast period.

 

Based on geography, the managed security services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the managed security services market. North America’s large market share is attributed to the presence of leading managed security service providers and their increasing focus on developing advanced threat detection services.

 

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The infrastructural growth in APAC, especially in China, South Korea, India, Australia, Singapore, and Japan; the rapid growth of regional economies; the increasing number of cybercrimes; and the growing awareness about the importance of managed security services among small & medium-sized organizations offer growth opportunities for the players operating in the managed security services market.

 

The key players operating in the managed security services market are IBM Corporation (U.S.), Secureworks, Inc. (U.S.), AT&T Inc. (U.S.), NTT Corporation (Japan), Trustwave Holdings, Inc. (U.S.), Atos SE (France), CrowdStrike Holdings, Inc. (U.S.), Lumen Technologies (U.S.), F5, Inc. (U.S.), Fortinet, Inc. (U.S.), Kroll, LLC. (U.S.), CIPHER SECURITY LLC (U.S.), Nettitude Limited (U.S.), Ascend Technologies, LLC (U.S.), and Avertium, LLC (U.S.).

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/managed-security-services-market-5545?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=28-07-2023