Thursday, November 30, 2023

Live Streaming: Engage Your Audience

 

According to a new market research report titled, Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Geography — Global Forecast to 2028,' the live streaming market is expected to reach $4.26 billion by 2028, at a CAGR of 22.4% from 2021 to 2028.

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The adoption of advanced technologies for live streaming content over the internet has revolutionized the media industry. In recent years, many companies have started offering live streaming features on their platforms. Live broadcast technology over the internet has improved significantly and is increasingly being used for live streaming esports, sports events, concerts, theater, workout routines, and educational content. Furthermore, live streaming became a necessary alternative for numerous applications during the COVID-19 pandemic. Thus, there is considerable growth in the demand for live streaming technology to enable high-quality streams, enhanced marketing, analytics tracking, and real-time customer interaction.

The growth of this market is driven by the surging popularity of esports and video games, the growing preference for live-streamed content, and increasing smartphone adoption and internet penetration. However, connectivity and production issues are expected to restrain the growth of this market.

Furthermore, the increasing focus on network bandwidth optimization and the growing scope of live streaming technology is expected to create growth opportunities for the vendors operating in this market. However, fake traffic on live streaming websites is a major challenge for the market's growth. Additionally, the incorporation of advanced technologies is an ongoing trend in this market.

Increasing Smartphones Adoption and Internet Penetration to Drive the Live Streaming Market

In live streaming setups, different technologies, such as streaming protocols carry data to the users. Streaming platforms require high-speed internet connectivity to establish stable, reliable connections and enable higher content bitrate and resolution. Streaming live videos requires high internet speeds due to factors such as resolution, bandwidth, and bitrate, whereas audio streaming requires low speeds as it consumes smaller bandwidths.

According to Dacast (U.S.), some of the estimated internet requirements for different streaming resolutions are as follows:

  • Streaming 1080p HD videos – 25 Mbps
  • Streaming 720p Videos – 10 Mbps
  • Streaming 480p Videos – 5 Mbps

The wide availability of smart devices and smartphones with high computing power and increasing internet penetration across the globe drive the growth of the live streaming market. According to Cisco Systems, Inc. (U.S.), by 2023, there will be around 5.3 billion internet users globally with average global fixed broadband speeds up to 110 Mbps and approximately 3.6 global devices and connections per capita.

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The global live streaming market has witnessed remarkable growth during the COVID-19 pandemic. According to the GWI Live Streaming Infographic, in 2020, approximately 29.0% of internet users globally accessed live-streamed content on their preferred social media platforms. Also, according to GWI Live Streaming Trends, in March and April 2020, live streamers accounted for more than a third of all internet users globally. These factors are expected to further drive the growth of the live streaming market during the forecast period.

To provide efficient analysis, Meticulous Research® has segmented this market based on component (services and software/solutions), offering (business-to-business [B2B], business-to-consumer [B2C]), streaming type (audio streaming, video streaming, and game streaming), vertical (enterprises, media & entertainment, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

Based on type, the live streaming market is segmented into services and software/solutions. In 2021, the services segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing demand for new installation and integration of live-streaming platforms, the need for professional post-production support, upgradation, and maintenance to help deliver content based on client specifications and provide a personalized experience to viewers, and the surging demand for customer support, content creation services, and subscription services.

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Based on offering, the live streaming market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2021, the business-to-consumer (B2C) segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the increasing need to transmit live content on the internet for better brand engagement and reach, the growing adoption of smart devices, and high internet penetration globally.

Based on streaming type, the live streaming market is segmented into audio streaming, video streaming, and game streaming. In 2021, the video streaming segment accounted for the largest share of the live streaming market. However, the game streaming segment is slated to register the highest CAGR during the forecast period due to the proliferation of smartphones with high processing power, high internet penetration, an increasing number of online gamers, and the rising popularity of esports.

Based on vertical, the live streaming market is segmented into media & entertainment, enterprises, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals. In 2021, the media & entertainment segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing popularity of online live video streaming in the media & entertainment industry, the rising technological advancements such as the implementation of blockchain technology in streaming, the growing adoption of cloud-based video streaming solutions, and the increasing use of artificial intelligence for increasing the reach of video content, improving video quality, and enhancing security.

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Based on geography, the live streaming market is segmented into five major regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2021, Asia-Pacific accounted for the largest share of the live streaming market. The factors responsible for the large market share in Asia-Pacific include the rising focus on digitalization due to technological advancements, such as cloud computing, AI, and 5G technology in the digital media industry and the rising adoption of live-streaming platforms for better brand engagement and reach.

In addition, Asia-Pacific is slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is driven by the increasing consumer base for live streaming content, the rising smartphone adoption, and the high internet penetration.

The live streaming market is dominated by three top players: Vimeo, Inc. (U.S.), IBM Corporation (U.S.), and Boxcast (U.S.). These players continuously focus on agreements, collaborations, partnerships, and product development and launches to increase their respective market shares.

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Tuesday, November 28, 2023

Human Nutrition: Their Functions in Human Beings

 

According to a new market research report titled, ‘Human Nutrition Market by Type (Vitamins, Proteins, Minerals, Fatty Acids, Carbohydrates), Application (Functional Food, Functional Beverages, Dietary Supplements), Population (Geriatric, Pediatric, Maternal) and Geography - Global Forecast to 2030’ the global human nutrition market is projected to reach $189.2 billion by 2030, at a CAGR of 7.4% during the forecast period.

 

The growth of the human nutrition market is mainly attributed to rising health and wellness trend, growing demand for fortified food products, lifestyle changes, rising incidences of chronic diseases, and increasing application in infant formulas and dietary supplements. Furthermore, product launches and technological innovations by the leading players in the human nutrition market are expected to create market growth opportunities.

 

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The human nutrition market is segmented by type (vitamins [fat-soluble vitamins (vitamin a, vitamin e, vitamin d], water-soluble vitamins [Vitamin C, Vitamin B9, Vitamin B12, Vitamin B7, Vitamin B3, Vitamin B2, Vitamin B1, Vitamin B5, Vitamin B6], probiotics, proteins and amino acids, carbohydrates (monosaccharides [glucose, fructose, galactose], oligosaccharides [sucrose, lactose, other carbohydrates], fats and fatty acids (omega-3 fatty acid, omega-6 fatty acid, monounsaturated omega-9 fatty acid, palmitic acid (pa), other fats and fatty acids), minerals (macro minerals [calcium, phosphorus, potassium, magnesium, salt (sodium chloride)], microminerals [iron, zinc, copper, chromium, fluoride, iodine, selenium, manganese, molybdenum], other mineral types), by application (functional food [dairy products, bakery products, snacks, confectionery products, infant food products, other functional foods], functional beverages [energy drinks, sports drinks, fortified juices, dairy-based beverages, other functional beverages], dietary supplements, other applications), by population category (pediatric, geriatric, maternal, athletes, and other population categories) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.

 

Among all the types studied in this report, the vitamins segment is expected to account for the largest share of the global human nutrition market in 2023. The large market share of this segment is attributed to the increasing attention to health and wellbeing by consumers, the rising prevalence of vitamin deficiencies, and the huge demand for vitamin-fortified foods. In addition, the rising health and wellness trends and a steady rise in the geriatric population in developed economies are further expected to boost the demand for this segment. However, the probiotics segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing consumer awareness regarding the health benefits of probiotics, the increasing use of probiotics as an alternative to antibiotics, the growing research on probiotics, and the growing use of probiotics for children.

 

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Among all the applications studied in this report, the functional food segment is expected to account for the largest share of the human nutrition market. The large share of this segment is attributed to the changes in lifestyle and food habits, growing demand for nutritional and fortifying food products, rising spending on healthy & nutritious diets, and increased consumer knowledge about their health advantages. However, the functional beverages segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing demand for functional beverages in emerging economies, increasing demand for sports drinks, and a rise in health expenditure.

 

Among all the population categories studied in this report, the geriatric population segment is expected to account for the largest share of the human nutrition market. The large market share of this segment is attributed to factors such as the increasing aging population, the growing need to maintain and improve the digestion and immunity system of older adults, and the high prevalence of chronic conditions in this category population.

 

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Among all the regions studied in this report, in 2023, North America is expected to account for the largest share of the human nutrition market. The large market share of this region is attributed to the well-established nutraceutical and functional food industry; growing demand for nutritional supplements; high investments in the research & development of human nutrition products; rising prevalence of chronic diseases including cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases; the increasing focus on a healthy lifestyle; and the growing health & wellness and clean label trends.

 

The human nutrition market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the human nutrition market are Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Chr. Hansen Holding A/S (Denmark), Glanbia plc (Ireland), Corbion N.V.(Netherlands), Associated British Foods plc (U.K.), Arla Foods (Denmark), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto Co. Inc. (Japan), Cargill, Incorporated (U.S.), BASF SE (Germany), and Kerry Group plc (Ireland).

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Parking Management: A Smarter Way of Parking

 

According to a new market research report titled Parking Management Market by Component (Solution, Services), Technology (Image Processing, Reservation Based, RFID, Visible Light Communication), End User (Retail, Entertainment, and Leisure), Deployment, and Parking site - Global Forecast to 2027”, published by Meticulous Research®, the parking management systems market is expected to reach $4.03 billion by 2027, at a CAGR of 7.6% during the forecast period of 2020 to 2027.

A parking management system automates a car parking system. It encompasses ICT-based solutions that deploy IoT and AI for a smooth and automated parking facility. It optimizes parking spaces and making processes efficient. It gives real-time car parking information, such as vehicle & slot counts, available slots display, reserved parking, pay-and-park options, easy payments, reports, and a host of other features.

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The growth of the overall parking management systems market is mainly attributed to the growing demand for AI-based services, increasing need for parking spaces, and growing focus on seamless traffic flow. Moreover, the growing number of smart cities and technological advancements in autonomous cars will likely provide significant growth opportunities for players operating in the parking management systems market. However, the complexity in system integration, shift from car ownership model to car-sharing model, high initial installation & implementation cost of parking systems, and climate durability & vandalism are some of the

In conclusion, factors such as declining automotive production & sales of new vehicles and reduced purchasing power of consumers, coupled with the looming threat of recession and unemployment, have significantly affected the parking management systems market during pandemic.

Growing focus on seamless traffic flow to drive the growth of this market.

Traffic congestion is rising in smart cities worldwide due to population explosion, increasing number of automobiles, aging infrastructure, and uncoordinated traffic systems. Inefficient parking management worsens the situation as drivers move around in search of parking spaces around their destination, causing traffic congestion. Advanced traffic management systems can significantly decrease traffic congestion, improve safety, and accommodate additional vehicles in the cities.

major factors likely to hinder the market growth.

Parking solutions are an integral part of the ATMS (Advanced Traffic Management Systems). It combines sensors, street lights, smart navigation, and online payment platforms to collect real-time data, translate it into actionable insights, and relay information between the driver and parking facility operator. These systems can guide vehicles towards an available parking spot using vehicle guidance systems and notify users about parking spots across the city.

Hence, parking can reduce traffic congestions by providing drivers an overview of the least congested routes, parking options, and payment options available. Drivers can easily locate an available parking spot and get off the road quickly by understanding the availability in advance. These systems can also ensure that payments are made instantly using smartphones and parking space is made available for the next driver quickly.

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To provide efficient analysis, Meticulous Research® has segmented this market based on component (solutions and services), technology (image processing, reservation-based parking management systems, RFID-based parking management systems, visible light communication, and license plate recognition), end user (retail, entertainment, & leisure; airport, railway stations, & bus terminals, office spaces, and residential), deployment type (on-premises and cloud), parking site (on-street and off-street), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

Based on component, the parking management systems market is segmented into solutions and services. The solutions segment accounted for the largest share of the parking management systems market in 2020. This growth of the segment is attributed to increased efforts by parking operators and city authorities to reduce traffic congestion, increasing operating revenue, better enforcement of parking laws, and rising need for real-time video surveillance for security of parking facilities. However, the services segment is expected to grow at the highest CAGR during the forecast period.

Based on end user, the parking management systems market is segmented into commercial and residential. The commercial segment accounted for the largest share of the overall parking management systems market in 2020. The segment is also expected to grow at the highest CAGR during the forecast period. This segment's growth is attributed to the optimal space usage of commercial parking spaces, reduced traffic congestion in CBDs, reduction in management cost, increasing revenue due to flexible payment options, and enhanced security of commercial parking spaces.

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Based on technology, the parking management systems market is segmented into image processing, reservation-based parking systems, RFID-based parking management systems, visible light communication, and license plate recognition. The license plate recognition segment accounted for the largest share of the overall parking management systems market in 2020. The segment is also expected to grow at the highest CAGR during the forecast period. The segment's growth is mainly attributed to its benefits, such as increased revenue through improved compliance, decreased overhead cost, improved access to limited parking spaces, gate-less entry options, enhanced customer experience, and improved operations.

Based on deployment mode, the parking management systems market is segmented into on-premises and cloud-based. In 2020, the cloud-based segment accounted for the largest share of the overall parking management systems market as well as it is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its flexibility of access, agility, zero maintenance cost, and flexible payment.

Based on parking site, the parking management systems market is segmented into on-street and off-street sites. The off-street sites segment accounted for the largest share of the parking management systems market in 2020. The growth of this segment is attributed to the rising requirement to reduce congestion in central business districts of cities by banning on-street parking and increasing number of vehicles & parking space demand.

Based on geography, the global parking management systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe accounted for the largest share of the global parking management systems market in 2020. The growth of this region is primarily attributed to factors such as the presence of major companies engaged in R&D of ICT & their focus on developing advanced IoT and AI applications, initiatives by the EU and local governments to develop innovative parking management solutions, availability of strong communication infrastructure, and a higher rate of technology adoption in European countries. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

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In Europe, Germany commands largest share of the parking management systems market. The market growth in this country is primarily attributed to increasing development in their parking management system approaches and adopting various methods to implement them. Germany boasts an excellent ICT infrastructure and is fast-tracking smart technologies in its infrastructure. Nearly 74% of Germans live in cities and towns, so strategic urban development through digital solutions is widely recognized and relevant. Germany aims to use networked information and communication technologies to enable intelligent transportation and parking management systems to reduce congestion across its roads.

In Hamburg, the Department of Home Affairs and Sports and State Traffic Authority, in association with Deutsche Telekom, presented an app-based smart parking solution—Park and Joy, to simplify parking and reduce traffic congestion. The app will fetch data from numerous sensors placed by the local transport authority LBV and allow users to see free parking spaces through a smartphone.

In 2020, Cleverciti Systems GmbH, in association with RheinEnergie AG, deployed smart parking solutions in Cologne, Nippes. Cleverciti will install ClevercitiSensors and ClevercitiCirc360 guidance systems on Rheinenergie’s lampposts across 770 on-street parking spaces in Cologne. The guidance system will enable drivers to access real-time parking occupancy information and deliver live guidance to drivers.

The top four players that dominated the global parking management systems market were Amano Corporation (Japan), FLOWBIRD (France), SKIDATA GmbH (Austria), and T2 Systems, Inc. (US). Other key players operating in the parking management systems market are Xerox Corporation (US), IBM Corporation (US), Cubic Corporation (US), Robotic Parking Systems, Inc. (US), SWARCO AG (Austria), SIEMENS AG (Germany), Skyline Parking AG (Switzerland), Unitronics (1989) (RG) Ltd. (Israel), and Cleverciti Systems GmbH (Germany).

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Plant Based Protein: Best Protein Sources for Vegans and Vegetarians

 

According to a new market research report titled “Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to 2028”, published by Meticulous Research®, the plant-based protein market is expected to grow at a CAGR of 9.7% from 2021 to 2028 to reach $23.4 billion by 2028.

Consumer interest in boosting protein intake increases with more attention paid to the specific types of protein consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and food service operators intensifies, fueling the global plant-based protein market's growth. 

The overall plant-based protein market study is segmented based on type, crop type, source process, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

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Key findings in the plant-based protein market study

Based on type, the plant-based protein market is segmented into soy protein, wheat protein, pea protein, canola protein, potato protein, rice protein, corn protein, and other plant-based proteins. In 2021, the soy protein segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to higher consumer acceptance level, presence of many manufactures and their high scale of production, low cost than other types of plant proteins, easy availability of raw materials, and a large number of applications in various industries. However, the pea protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on crop type, the plant-based protein market is segmented into genetically and non-genetically modified organism crops. The genetically modified organism crops segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The leading position of this segment is mainly attributed to the common use of GMO crops, such as soybean and corn, for plant-based protein production due to their huge productivity and cost-effectiveness. However, non-genetically modified organism crops are expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the recent trend of preference for food products with non-GMO labels, rising demand for eco-friendly, natural, and organic food products, and stringent regulations for GM crops in Europe and Asia-Pacific.

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Based on source process, the plant-based protein market is segmented into organic and conventional plant-based protein ingredients. In 2021, the conventional plant-based protein ingredients segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to the high availability of crops grown through the traditional harvesting method (with the use of chemical fertilizers), easy accessibility to cost-effective conventional plant-based protein ingredients, their longer shelf life, and availability of substantial crop varieties. However, the organic plant-based protein ingredients segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for preservative and additive-free products.

Based on form, the plant-based protein market is segmented into solid and liquid. The solid segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to the growing demand for power plant-based protein coupled with their rising preference considering ease of handling and transport, comparatively lower costs, low chance of formulation mistakes, and their capacity to maintain ingredient stability.

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Based on application, the plant-based protein market is segmented into food and beverages, animal feed, nutrition & health supplements, pharmaceuticals, and others. In 2021, the food and beverages segment is estimated to account for the largest share of the overall plant-based protein market. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplement segment is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to changing lifestyles, growing health & wellness trends, and the increasing prevalence of diseases.

Geographically, North America is projected to account for the largest share of the global plant-based protein market in 2021. North America’s prominent position in the plant-based protein market is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.) among others.

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Monday, November 27, 2023

Digital X-ray Systems: Technology and Benefits in Healthcare Industry

 

According to a new market research report, ‘Digital X-ray Systems Market by Portability {Fixed (Ceiling, Floor), Portable (Mobile, Handheld)}, Technology (Computed, Direct), Application (Orthopaedic, Dental, Cardiovascular, Mammography), End User (Hospital, Imaging Center) - Global Forecast to 2030’ published by Meticulous Research®, the digital X-ray market is projected to reach $8.12 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.

 

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Digital X-ray is the advanced form of X-ray where a digital radiographic image is produced directly on a computer. The X-ray sensitive plate is used to directly capture the data during the examination of patients. These have high resolution and, hence, provide better and clearer images. The technological advancements in these devices make them more efficient and accurate for various applications.

 

The growth of this market is driven by the rising geriatric population coupled with the burden of chronic diseases, increasing adoption of teleradiology, technological advancements in digital X-ray systems, and growing preference for digital X-ray systems over conventional systems. Additionally, emerging economies and the implementation of Artificial Intelligence (AI) in digital X-ray systems are creating opportunities for market growth.

 

The key players profiled in this market study are Siemens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies Inc. (U.S.), Canon Inc. (Japan), Shimadzu Corporation (Japan), FUJIFILM Holdings America Corporation (U.S.), Carestream Health, Inc. (U.S.), Agfa-Gevaert NV (Belgium), Hologic, Inc. (U.S.), Hitachi, Ltd. (Japan), and Samsung Medison Co., Ltd. (South Korea).

 

Artificial Intelligence (AI) in Digital X-ray Systems to Positively Impact the Digital X-ray Systems Market Growth

 

X-ray is often used as an entry-level modality for diagnosing patients, producing large volumes of images. These systems are equipped with Artificial Intelligence (AI) for efficient analysis of images. A large database of radiography images is created, and with the help of AI-powered recognition algorithms, radiologists can analyze irregular readings. AI recognition will search and map images to help identify pathologies and display a heat map of potential issues. Internal defects, inclusions, or geometries can also be tested, and this process is reduced from several days to a few hours. During the COVID-19 pandemic, there was an increased adoption of AI platforms. These AI-driven platforms helped early intervention through rapid screening of COVID-19 with the help of chest X-ray interpretation.

 

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Market players are focusing on developing AI platforms for their benefit in data screening. For instance, in June 2022, MinXray, Inc. (U.S.) enhanced the digital radiography systems with the AI solution. The AI software can detect and localize 30 chest X-ray abnormalities, including TB and COVID-19 infections. In January 2020, Nano-X Imaging LTD. (Israel) secured $26 million in funding for the development, commercialization, and deployment of its Nanox System. The Nanox system is a digital X-ray device consisting of Nanox.Cloud software that provides an end-to-end medical imaging service based on AI analysis. Hence, with digitization, implementing AI in these systems will lead to effective analysis using digital X-ray systems.

 

The digital X-ray systems market is segmented by product type {fixed digital X-ray systems (ceiling mounted, floor mounted), portable digital X-ray systems (mobile, handheld), detectors, software}, technology (direct radiography, computed radiography), application (orthopedics and trauma care, mammography, dental, cardiovascular diseases, other applications), end user (hospitals & clinics, diagnostic imaging centers, other end users), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

 

Based on product type, in 2023, the fixed digital X-ray systems segment is expected to account for the largest share of the digital X-ray systems market. These systems are widely used in hospitals and diagnostic centers. With the rising number of hospitals and diagnostic imaging centers, the adoption of fixed digital X-ray systems has increased, further contributing to the segment’s large market share. However, the portable digital X-ray systems segment is projected to register the highest CAGR during the forecast period. The benefits of portable systems, such as flexibility to be used around the hospitals and at point-of-care and the innovations taking place in the systems to make them more effective for use, contribute to this segment's growth.

 

Based on technology, the direct radiography segment is expected to account for the largest share of the digital X-ray systems market. Factors such as increased efficiency in the workflow, less radiation exposure, better image quality, and can easily be integrated with existing technology or systems contribute to the segment’s largest share.

 

Based on application, in 2023, the orthopedics and trauma care segment is expected to account for the largest share of the digital X-ray systems market. The large market share of this segment is attributed to the increased prevalence of orthopedic disorders such as osteoporosis, rheumatoid arthritis, and bone injuries. Digital X-ray devices are mainly used for the initial screening level for these disorders to plan further treatment. Also, post-surgery, an X-ray is done for the recovery study of the patients.

 

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Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the digital X-ray systems market. Hospitals & clinics perform a wide range of diagnoses and surgeries, which include the use of X-rays. The increased hospitalizations due to the rising incidence of diseases, the rise in the geriatric population, and the increase in the number of healthcare settings boost the growth of this segment. However, the diagnostic imaging centers segment is projected to register the highest CAGR during the forecast period. The high cost of hospitals’ outpatient departments, the increasing number of diagnostic centers, and the growing patient population contribute to the growth of the market.

 

Based on geography, in 2023, North America is expected to account for the largest share of the global digital X-ray systems market, followed by Europe and Asia-Pacific. Higher adoption of technologically advanced products in the U.S. and Canada, government initiatives toward improving healthcare infrastructure, and increased demand for better imaging modalities such as digital X-ray systems contribute to the largest segment of the region. However, Asia Pacific is projected to register the highest CAGR during the forecast period. The rapid growth of this market is mainly driven by the improvements in the healthcare infrastructure in the region, the gradually rising need for advanced imaging modalities, the high burden of the aging population, and the increasing prevalence of chronic diseases and injuries are some of the factors contributing to the growth of the market in this region.

 

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market players in the last three to four years. In recent years, the digital X-ray systems market has witnessed several organic and inorganic strategic developments.

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/digital-x-ray-systems-market-1183?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=27-11-2023

 

Friday, November 24, 2023

“Tokenization Market”: New Technology for Security Industry

 

According to a new market research report titled, ‘Tokenization Market by Offering (Solutions, Services), Application (Payment Security, User Authentication, Compliance Management), Vertical (BFSI, Retail, Travel, Healthcare, Others), Organization Size, and Geography - Global Forecast to 2029,’ the global tokenization market is expected to reach $14.3 billion by 2029, at a CAGR of 17.3% from 2022 to 2029.

 

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Tokenization refers to a process by which a piece of sensitive data, such as a credit card number, is replaced by a surrogate value known as a token. The sensitive data generally needs to be stored securely at one centralized location for subsequent reference and requires strong protective measures. The security of a tokenization approach depends on the security of the sensitive values and the algorithm and process used to create the surrogate value and map it back to the original value. Most businesses hold at least some sensitive data within their systems, whether it be credit card data, medical information, Social Security Numbers, or anything else that requires security and protection. Using tokenization, organizations can continue to use this data for business purposes without incurring the risk or compliance scope of storing sensitive data internally. 

 

Increased adoption of digital payment approaches, the need to adhere to PCI DSS guidelines, and the rise in fraudulent activities in e-commerce are the major factors driving the growth of this market. In addition, the increasing use of payment apps across different industry verticals is expected to offer prominent growth opportunities for the growth of this market. However, the lack of trust in online banking is expected to restrain the growth of this market.

 

The increased usage of digital transactions resulted in an increase in cyber-attacks. In recent years, there has been a gradual increase in payment fraud activities at organizations, as nearly 75% of organizations were targets of a payment fraud attack in 2020 (Source: JP Morgan). Thus, increasing payment-related frauds are expected to propel the growth of the tokenization market in the coming years.

 

The tokenization market is segmented based on Offering (Solutions, Services), Application (Payment Security, User Authentication, Compliance Management), Vertical (BFSI, Retail, Travel, Healthcare, Others), Organization Size, and Geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

 

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Based on offering, in 2022, the solutions segment is expected to account for the largest share of the tokenization market and is slated to register the highest CAGR during the forecast period. The rising demand for advanced payment security solutions for digital e-commerce and the increasing use of payment applications across different industry verticals is driving the growth of this segment. Furthermore, tokenization solutions have gained popularity as it enables organizations to adhere to the PCI DSS regulatory compliances. In addition, the growing number of data breaches and financial losses associated contribute to the growth of the tokenization solutions market.

 

Based on application, in 2022, the payment security segment is expected to account for the largest share of the tokenization market. The growth of this segment is driven by factors such as the increasing need to stay compliant with payment security guidelines and the growing need to ensure continuous customer experience and prevent fraudulent activities. Furthermore, growing consumers’ interest in contactless payments and the rising demand for cloud-based tokenization solutions and services are expected to provide lucrative opportunities for the growth of this segment. However, the user authentication segment is slated to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as rising incidents of security breaches and sophisticated cyberattacks leading to financial and reputational loss, stringent government regulations to increase the adoption of authentication solutions, and the rising instances of identity theft and fraud.

 

Based on industry vertical, in 2022, the BFSI segment is expected to account for the largest share of the tokenization market. The growth of this segment is attributed to the rising implementation of regulatory security compliance, rising demand for cloud-based security solutions, and the increasing risk of cyber threats against BFSI infrastructure. However, the retail segment is slated to register the highest CAGR during the forecast period. The increase in smartphone usage, the rise of e-commerce channels, and the rising incidents of online payment fraud are expected to drive the growth of this segment.

 

Based on organization size, in 2022, the large enterprise segment is expected to account for the largest share of the tokenization market. This segment is also slated to register the highest CAGR during the forecast period. Increasing transactions of high valuations in large enterprises are compelling them to opt for tokenization solutions.

 

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Based on geography, in 2022, North America is expected to account for the largest share of the tokenization market. The rising consumer shift towards online payment modes is driving the market growth in this region. North America’s strong financial position enables it to invest heavily in advanced solutions and technologies, which has provided the organizations in this region a competitive edge in the market.

 

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2019 and 2022. The tokenization market is consolidated and dominated by a few major players, namely Bluefin Payment Systems LLC (U.S.), Braintree (U.S.), Cybersource (U.S.), Elavon (U.S.), Ingenico (France), Broadcom, Inc. (U.S.), Thales Group (France), Shift4 Payments, LLC (U.S.), Signifyd (U.S.), TNS, Inc. (U.S.), Tokenex (U.S.), SISA Information Security Pvt. Ltd. (India), Stripe (U.S.), Geobridge Corporation (U.S.), MasterCard (U.S.), Verifone Systems Inc. (U.S.), Fiserv, Inc. (U.S.), Micro Focus (U.K.) and American Express (U.S.).

 

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Tuesday, November 21, 2023

Rapid Diagnostics Market: Builds for Its Future

 

According to a new market research report titled "Rapid Diagnostics Market by Product (Kits [OTC, Professional], Readers), Platform (Lateral Flow, Serological, PCR), Application (Blood Glucose, Infectious Diseases, Pregnancy, Drugs of Abuse), End User (Hospitals, Diagnostic Labs, Home Care) — Global Forecasts to 2029", published by Meticulous Research®, the rapid diagnostics market is expected to grow at a CAGR of 8.9% from 2022–2029 to reach $18.20 billion by 2029.

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A rapid diagnostic test (RDT) is a medical diagnostic test intended to provide diagnostic results efficiently and immediately (within 1 hour). RDT kits are widely used in hospitals, clinics, and diagnostic laboratories for the qualitative and quantitative detection of specific antigens, antibodies, and genetic material or proteins associated with a specific health condition or disease.

The growth of the overall RDT market is driven by key factors, such as the growing demand for POC diagnostics, the rising prevalence of chronic diseases coupled with the increasing aging population, the growing necessity for rapid decision making in emergency departments, and emerging technological innovations.

Rapid Diagnostics Market: Outlook

The overall rapid diagnostics market is segmented based on product (kits and test readers/analyzers), platform (immunoassays, molecular detection, and other platforms), application (blood glucose testing, cardiac metabolism testing, infectious diseases testing, coagulation testing, pregnancy & fertility testing, fecal occult testing, hematology testing, tumor/cancer markers testing, drugs of abuse testing, urinalysis, and cholesterol testing), end user (hospitals & clinics, diagnostic laboratories, home care/self testing, and other end users) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

Based on product type, the kits segment is estimated to account for the largest share of the overall rapid diagnostics market in 2022. The large share of this segment is attributed to the rising adoption and repetitive kits usage. In addition, the growing portfolio of disease-specific kits for the early diagnosis of chronic diseases and the increasing technological advancements are other factors supporting the growth of this segment. However, the test readers/analyzers segment is expected to witness the fastest growth rate during the forecast period. The high growth rate of this segment is attributed to the capabilities of these devices to simultaneously read multiple tests in one scan and scale large volumes. In addition, healthcare facilities adopt analyzers for quick analysis compared to centralized lab analyzers due to their features, such as compact size, portability, and easy accessibility.

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Based on platform, the immunoassays segment is estimated to account for the largest share of the overall rapid diagnostics market in 2022. The large share of this segment is attributed to the capability of immunoassay kits to provide fast and accurate results with high sensitivity in point-of-care diagnostics. Countries worldwide require rapid and accurate SARS-CoV-19 testing kits to tackle the COVID-19 pandemic. Thus, companies have started developing immunoassay kits that provide results with higher sensitivity, accuracy, and speed. For instance, in May 2021, Stream Bio (U.K.) and Chelsea Technologies (U.K.) formed a joint venture, Brightline Diagnostics (DX), and created a unique platform known as Claritas that couples fluorescent lateral flow test with a highly sensitive handheld reader, delivering significant advantages over existing assays. However, the molecular detection segment is expected to witness the fastest growth rate during the forecast period. The growing need for advanced diagnostic techniques and the launch of innovative technologies are factors attributed to the high growth rate of this segment. In addition, the high demand for rapid PCR diagnostic kits due to the COVID-19 pandemic further boost the growth of this segment. For instance, countries such as Japan and India rely heavily on RT-PCR kits to diagnose and manage COVID-19 infections. Also, numerous countries worldwide have made negative COVID-19 RT-PCR test reports mandatory for international and local travelers.

Based on application, the infectious disease testing segment is estimated to account for the largest share of the rapid diagnostics market in 2022. The large share of this segment is mainly attributed to the rising prevalence of infectious diseases and the growing demand for affordable infectious disease testing in emerging markets. For instance, in the U.S., the number of estimated new hepatitis A virus (HAV) infections increased by nearly three folds in 2017 compared to 2014. However, the tumor/cancer markers testing segment is expected to witness the fastest growth rate during the forecast period. The growing incidences of cancer among the general population is the major factor attributed to the high growth rate of this segment. According to WHO, cancer was the leading cause of death globally in 2020, accounting for approximately 10 million deaths. Furthermore, nearly 70% of deaths out of the total deaths from cancer occur in low- and middle-income countries; therefore, early detection is extremely important to reduce mortality, enhance survival, and save treatment costs. Thus, healthcare workers utilize various rapid diagnostic kits for the early detection of cancer.

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Based on end user, the hospitals & clinics segment is expected to witness the fastest growth rate in the forecast period. The rising number of hospitals worldwide and the increase in healthcare access & expenditure are attributed to the high growth rate of this segment. For instance, the American Hospital Association has reported that the total number of registered hospitals in the U.S. was estimated to grow by 12% to 6,210 in 2019 from 5,534 hospitals in 2018. Similarly, in India, according to the Health Management Information System Portal (HMIS), as of 2018, there were around 37,725 hospitals, which was an increase of 7.0% from 35,416 hospitals in 2013.

Geographically, North America is estimated to command the largest share of the global rapid diagnostics market in 2022, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The large market share of this region is mainly attributed to the high number of laboratory tests performed annually in North America, the rising prevalence of chronic diseases coupled with the increasing aging population, and the rising number of inpatient hospitalizations. For instance, the U.S. Department of Health and Human Services reported that the number of patients with HIV is growing with a CAGR of 2.5% in the country. It is assumed that 40% of new HIV infections in the U.S. are transmitted by people living with undiagnosed HIV; this boosts the demand for related rapid testing products throughout the country.

However, Asia-Pacific region is expected to be the fastest-growing regional market due to the growing geriatric population, the rising prevalence of infectious & chronic diseases, and various government initiatives to promote health awareness.

Key companies operating in the global rapid diagnostics market are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), ACON Laboratories, Inc. (U.S.), Creative Diagnostics (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), BioMérieux S.A. (France), Alfa Scientific Designs, Inc. (U.S.), BTNX Inc. (Canada), Meridian Bioscience, Inc. (U.S.), and Trinity Biotech plc (Ireland) among others.

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Scope of the Report

Rapid Diagnostics Market, by Product

  • Kits
  • OTC Kits
  • Professional Kits
  • Test Readers/Analysers

Rapid Diagnostics Market, by Platform

  • Immunoassays
  • Lateral Flow Assays
  • Serological Assays
  • Other Immunoassays
  • Molecular Detection
  • Polymerase Chain Reaction (PCR)
  • Other Tests
  • Other Platforms

(Note: Other Immunoassays includes flow through immunoassays and agglutination assays; Other Tests includes microfluidic and microarray devices; and Other Platforms include coagulation tests, glucose monitoring systems, dipsticks, and other rapid diagnostic platforms)

Rapid Diagnostics Market, by Application

  • Blood Glucose Testing
  • Cardiac Metabolism Testing
  • Infectious Diseases Testing
  • Influenza Testing
  • HIV Testing
  • Hepatitis Testing
  • Sexually Transmitted Diseases (STD) Testing
  • Healthcare Associated Infection (HAI) Testing
  • Respiratory Disease Testing
  • Tropical Disease Testing
  • Other Infectious Disease Testing
  • Coagulation Testing
  • Pregnancy and Fertility Testing
  • Fecal Occult Testing
  • Hematology Testing
  • Tumor/Cancer Markers Testing
  • Drugs Of Abuse Testing
  • Urinalysis
  • Cholesterol Testing

(Note – Other infectious disease testing includes meningitis, norovirus [stomach flu], hand, foot and mouth disease [HFMD], and pertussis)

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Rapid Diagnostics Market, by End User

  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Home Care/Self Testing
  • Other End Users

Rapid Diagnostics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa

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