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Haptic Technology Market Forecast 2020, Latest Trends and Opportunities

Haptic Technology Overview

We depend constantly on touch or haptic data in ways we really do not realize consciously. Nerves in our skin, limbs, muscles, and organs tell us how we position our bodies, how firmly we hold things, what the temperature is like, or how warmth is expressed by an embrace of a loved one. Developers have worked to replicate authentic touch experiences around the globe, for computer games, and more. It has boosted robotic control, physical therapy, schooling, navigation, connectivity and even shopping online by involving touch in human-computer interactions. Haptics, with vibration in the handset or the rumble packs in-game controllers, have been successful at making things evident in the past. But now there has been a move towards making things that feel more real, that imitate the feeling of natural materials and experiences more naturally.

Haptic devices were first successfully applied in the 1970s, and in video games, most people would have encountered a form of haptic feedback that makes motion feedback part of the gameplay experience. In computer games, the inclusion of haptic technologies improve the player’s perception and, as a consequence, the enjoyment of the player. Also, haptic interfaces are significantly important in teaching and other applications. This is because rich and accurate knowledge about an item is transmitted by the sensation of touch. When integrated with other senses, especially sight, touch significantly enhances the amount of data that is transmitted for processing to the brain. The increase in data decreases user mistakes, as well as the amount of time it takes to perform a job. The energy demand and the magnitudes of the interaction forces used in teleoperation scenarios are also minimized.

We obtain two kinds of feedback as we use our hands to experience the environment around us known as kinesthetic and tactile. Consider a hand that searches for picks up and examines a ball, to fully understand the distinction between the kinesthetic and tactile feedback. A specific series of data points representing joint angle, muscle length, and stress is created as the hand reaches for the ball and changes its form to hold. A specific group of receptors implanted in muscles, tendons, and joints gathers this data. Communication is created between the finger pads and the surface of the ball as the fingertips touch the ball. Each finger pad is a complex sensory system that includes receptors in the skin as well as in the tissue underlying it. There are several types of these receptors such as light contact, hard contact, pressure, vibration, and discomfort, one for each type of stimuli. The input jointly coming from these receptors allows the brain to recognize the ball’s subtle tactile data. Global Market Database is a cloud based dynamic market research platform which gives free access to ten-year global forecast data for the Haptic technology market for the next ten years. The data can be accessed after a two step registration process.

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Latest Updated Report on US Healthcare Market 2020

The primary driver for the US Healthcare Market is the advancing healthcare facilities in the United States, for instance-Sovandi was a specialty drug that was developed in the year 2013 for the treatment of hepatitis C.The treatment costs incurred for complete recovery of the patient amounts to a value of USD 95,000. Additionally, the rising personal income amongst the U.S population accounts for another factor that propels the market growth. According to sources, a major segment of the disposable income is typically spent on healthcare products and services.

Alternative factors like the aging population of the United States serves as an element that augments the growth of this market positively. By the year 2030, it is estimated that one in five Americans will be people born between the years 1946-1964. Therefore, as the group ages, the care and support required by these citizens are expected to increase.

Additionally, the life expectancy (at birth) was around 73.3 in the 1980s. The life-span of an average human being grew to a value of 78.3 by the year 2015. As of 2019, the life expectancy has gone up to 78.87 years i.e. the value increased by a factor of 0.08% as compared to 2018. This steady growth in terms of lifespan is an outcome of the increased medical research and technological advancements within this sector. Reduction in malnutrition, increase in sanitation and infectious disease control are some of the other factors that are likely to have supplemented this organic growth.

Healthcare as important conjunction for the New York Economy

As of 2020, the healthcare sector constituted 40% of the 87,200 jobs created throughout the city. Home-care services provided a major thrust for the growing market. Although according to the comptroller, the home-based health care workers were amongst the least-paid employees of the healthcare market. In the year 2019, the Empire State added 12,300 social assistance workers who provided help as well as support for elderly people with disabilities. Research conducted by the Economic Modelling Specialists International indicated that for every 100 new direct health-care jobs created in the NY city, an additional 107 induced jobs were delivered within the state.

A Healthcare market analysis would expose huge the economic support provided to the GDP of the U.S. The strong employment trends within this city are expected to boost personal income, sales as well as tax collection. Therefore, aggradation in terms of the expanding employment rate is expected to enable the city to afford new services and to balance the budget.

Healthcare market research reports obtained from the mayor’s office situated in the big apple, roughly 30,000 New Yorkers were undocumented immigrants who didn’t have access to health care facilities. In order to address this problem, De Blasio introduced a government-run health insurance facility called the NYC Care that aims to help ineligible people. Citizens of the city who are uninsured and have lived in the area for over 6 months can make use of NYC Care to get connected with a primary doctor. The public health program also provides other features like specialty care like mental health and substance abuse services.

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Augmented Realitys Market Size Trends & Forecast to 2020 Industry Analysis by Regions, Type and Applications, Top Countries Analysis

Augmented Reality Market has evolved in the past few years, itprovides a three-dimensional real-time experience. The objects that exist in the real world scenario are enhanced by computer-generated perceptual information. Some of these multiple sensory qualities that are rendered include visual, auditory, haptic, somatosensory, and olfactory information. The connotation is also known as computer-mediated reality. It alters an individual’s ongoing perception of his environment. The overlaid sensory information can be constructive or destructive. Constructive in this context refers to the information being additive in nature as compared to the natural environment. For instance, the game Pokémon Go is an example of constructive AR.  On the contrary, destructive realty adheres to concepts that mask the existing reality. It is also known as a mixed reality since the technology has the ability to provide a concoction of both the rendered scenario as well as the existing one. This technology cuts across all segments and has found applications in sectors like aerospace and defense, construction, automotive, healthcare as well as the energy-based sector.

The innovation was first employed in 1992 by the U.S Airforce’s Armstrong Laboratory. The product of this technology was coined as Virtual Fixtures. The technology centered around the concept of augmented sensory information. This innovation enabled modification of human responses through direct as well as remotely modified tasks.

Branches of the value chain within this market

The value chain for the Augmented Reality Market includes the software as well as the hardware components. The hardware segment encapsulates some of the modern mobile computing applications like digital cameras, smartphones as well as computers. The two technologies used in AR include diffractive waveguides and reflective waveguides. These waveguides are structured across platforms like microelectromechanical systems (MEMS) sensors, i.e. an accelerometer, GPS, and solid-state compass. Other hardware appliances are fixated around display-based systems employed to provide this effect. Some of these hardware technologies include optical projection systems, monitors, and handheld devices. Other commonly used technologies are head-mounted display and helmet-mounted display systems.

One of the fastest-growing segments within the Augmented Reality Market includes the healthcare sector. This technology can be used by surgeons in order to perform minimally invasive surgeries. AR provides a virtual view of the patient in which the surgeon will be able to examine the affected body parts of the patient. AR is used to improve fitness and it can be applied in educational environments as well. Content may be accessed by scanning or viewing an image with a mobile device. Information can also be obtained via marker less AR techniques. The technology also provides real-time subjects for study which can be used by medical patients to understand medical therapeutics.

AR technology is growing increasingly popular in the automotive sector. The technology can potentially improve a driver’s focus by providing all the necessary navigation car status to them.  Additionally, companies are also trying to develop advanced safety systems based on AR features and internet-connected safety implications. Popular car brands like BMW were poised to release AR integrated automobiles in the year 2020. The company created a virtual reality app in order to provide a real-time experience of its cars to end-users. HUD (Head-up displays) are currently used by the BMW (7 series).

Augmented reality is widely used in Defense applications. These are used in areas like training and development and maintenance. In some instances, the off the shelf AR platforms are also upgraded for military training purposes. The AR application are cost effective and can be easily deployed. A recent study concluded that the tactical displays enhance the battlefield awareness of troops.

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Free Market Intelligent Platform - Global Market Database

Global Market Database (GMD) is a dynamic cloud-based market research platform. The market data obtained for GMD shifts in line with the changing market dynamics. This is predominantly because the information obtained via GMD is updated on a quarterly basis. The forecast analysis in a conventional market research report has a validity of roughly 3-4 months owing to the data inconsistency. A sudden economic disruption could potentially render the report invaluable. In the case of the Global Market Database, the information is automatically updated which increases the accuracy of the data.

The cost incurred to procure a single market research report that specializes in a particular industrial vertical is around USD 5000. The market research tool generates data across 600+ markets and 12 different industries at the same price as a single market research report. Therefore, the end-users’ return on investment is much higher on making use of Global Market Database. Global Market Database generates data across industries including Advanced Materials, Agriculture, Automotive, Chemicals, Energy & Power, Logistics, Healthcare, ICT, Packaging, Pharmaceuticals, Food and Beverage, and Semiconductors.

The B2B market research tool serves as a lucrative source for secondary research for Top Management staff within companies. Some of the players of the value chain who could benefit from this resource include Manufacturers, Sub-Component Manufacturers, Investment Bankers, New Market Entrants as well as Stake Holders. The tool serves as an interactive and user-friendly secondary research platform. It can be used by existing as well as potential players of this market. The tool can also cater to educational requirements for management students.

Global Market Database automatically updates its data through Dynamic Market Data (DMD) technology. DMD studies the changing market trends across all industrial sectors on a quarterly basis. It automatically updates the existing information on the platform thus providing relevant market data. Global Market Database provides data on a subscription basis. The subscription period for this market research tool is 12 months. Additionally, Global Market Database generates reports based on the demands of the customer. Industry or country-specific competitive mapping can also be provided using this forum.

The B2B market research tool is a product developed by Strategy Partners Global. The company was established in the year 2015. The company has explored a wide range of competitive markets previously through a team of experts. Thus, the Global Market Database serves as a platform that is a combination of both industry expertise and technology. This market intelligence platform is a stand-up option in comparison to general market research reports in terms of data sufficiency as well as adeptness.

Global Market Database helps companies worldwide with comparing internal market sizing, market forecast, market research, and industry analysis. The technology acts as a novel tool that redefines market research. The tool provides a quantitative and qualitative analysis across prominent industrial sectors. Global Market Database redefines market research and its boundaries. It covers the overall spectrum associated with market research analysis. Global Market Database is a market research platform that defines the new generation of market research through its client flexible reports, The reports generated through this forum can be customized and molded according to the user specification. It makes understanding market research a more comprehensive and interactive experience.

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Acetone Market 2020 Outlook, Current and Future Industry Landscape Analysis

INTRODUCTION:

Acetone is also a potent solvent, and in the field of chemistry is also widely known as propanone. The acetone formula is (CH3)2CO or C3H6O. It belongs to the functional group Ketone (RC(=O)R '), making it the smallest and simplest ketone. Acetone's common household uses are as the active ingredient in the nail polish remover described in the above and as a thinner.

The molar mass of Acetone has a value of 58gm/mol. It is a colorless liquid which is miscible in benzene, ethanol, etc. Acetone is an organic compound that is water-miscible. Acetone was first developed by distillation of Lead(II) acetate (Pb(CH3COO)2) by Andreas Libavius in the year 1606.

Acetone naturally occurs in plants and trees in the world. It is a substance that evaporates very quickly from volcanic gases, even from water and soil. Due to microbial consumption, acetone can pose a significant risk of oxygen depletion in aquatic systems. Acetone is widely used as a solvent to make plastics, synthetic fabrics and in other industrial products other than nail polish remover. In the textile industry, acetone is commonly used for wool degreasing and silk degumming.

INFORMATION FOR MATERIAL HANDLING IN THE ACETONE MARKET

Acetone has a high flammability.  On burning, acetone glows with yellow flames. Vapors may flow to distant ignition sources along surfaces and flash back. The Auto-ignition temperature is also dependent on the time of exposure, it is quoted as 525 °C in some studies. A small volume of water that also prevents ignition is also likely to produce industrial acetone. Acetone is slightly toxic in nature. The properties associated with this substances makes it useful as a solvent in industries.

Acetone is produced directly or indirectly from propylene. Roughly 83% of acetone is delivered through the cumene cycle, therefore, acetone production is attached to phenol creation. In the cumene cycle, benzene is alkylated with propylene to create cumene, which is oxidized via air to deliver phenol and acetone.

PRODUCTION OF ACETONE:

In 2010, the overall production limit with respect to acetone was expected to be 6.7 million tons for each year. With 1.56 million tons for every year, the United States had the most noteworthy production capacity, followed by Taiwan and mainland China.

The Acetone Market attained a marginal growth rate in the year 2019. The product obtained a Compound annual growth rate (CAGR) of 9% during the forecast period (2021-2026). Worldwide Acetone utilization is separated into two solvents, Bisphenol A (BPA) and Methyl Methacrylate.

Besides, organizations occupied with the downstream usage of acetone items like BPA and MMA are looking at to extend their business by a few mergers and obtaining. The economic downturn has currently slowed down the growth of the acetone market.

Global Market Database can be used to analyse the shift in line with changing market trends and the overall dynamics associated with the existing GMD markets. The forecast and scenario based analysis for mature industrial markets can be studying using this market research tool. The B2B market research platform studies and analyses the changing market dynamics of the overall chemical sector.

ACETONE MARKET COMPETITIVE MAPPING FOR REGION

Acetone creation is significantly concentrated in China, USA, Taiwan, South Korea and western European region. Asia Pacific witnessed a staggering development for Acetone in 2019. The market is foreseen to contribute to maximum share in the forecast period. The growth is attributable to quickly extending pharmaceutical and electronics sectors. Additionally, option of Phenol/Acetone limits in China lately will bring about diminished reliance of import and make it self-dependable.

Production of acetone, across Europe has indicated a slow decrease because of a fall sought after influencing the synthetic imports. North America positions as the second-biggest regional segment primarily driven by its application in solvent manufacturing. Canada is the fastest developing nation which has market with rising interest for solvents. Then again, rising consumer spending on technology in the U.S. has prompted rising interest for buyer gadgets, impelling the interest for Bisphenol A.The counties which are more prone to develop the market rate of acetone are as follows – U.S., Canada, Germany, France, Belgium, CIS China, India, Japan, South Korea, Taiwan, Brazil and Mexico.

INDIAN ACETONE MARKET

The India acetone market is anticipated to exceed USD 147 million by 2025, owing to the rising demand from different end-use industries, such as construction and electronics coupled with increasing chemical imports. Furthermore, India is also expected to ramp up its domestic production in the coming years as it has imposed anti-dumping duties on Acetone imports from South Korea, Saudi Arabia and China.

In monetary year 2019, the production volume of acetone across India was around 41 thousand metric tons. The Indian chemical industry is exceptionally differentiated. With a coverage of more than 80 thousand items, the south Asian nation was the 6th biggest producer of synthetics on the planet and the fourth biggest in Asia. The plant named as Deepak Phenolics Limited, will be able to produce 120,000 tons/year of acetone making it the largest acetone plant of India. The mapping for the Indian market with respect to the Global perspective can be studied using Global Market Database. The cloud based market research platform which provides dynamic market data. Free Market research data can be obtained for the first five GMD logins. The site can be useful for secondary research purposes.

CONCLUSION

The size of the acetone market is most likely to see huge increases from 2019 to 2025, due to the rise in demand for plastics across the globe. The global acetone portion of the overall industry is heavily divided. In 2015, the worldwide use of acetone was estimated at approximately 6.1 million tons, hitting a market value of USD 7.3 trillion by the end of the estimated duration (2016-2026). The demand for acetone has seen an expansion in production worldwide. The demand for acetone was less affected by the recent capacity expansion in Asia compared with phenol. In the last five years, global acetone industry demand has experienced an average growth of 3 percent.  

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Cognitive Computing Market (2020 ) - Growth, Trends, and Forecasts

Cognitive Computing market symbolizes the third age of computation. The neural network, which is a primary concept driving deep learning, is the brain of a cognitive process. The neural network is a system of hardware and software to infer functions that rely on the tremendous amount of uncertain input data mimicking the central nervous system of humans.

In dynamic scenarios where the responses may be unclear and vague, cognitive computing is the use of computerized simulations to mimic human intelligence. Cognitive computing market serves to make it possible to compute a whole set of questions. It deals with dynamic circumstances marked by complexity and uncertainty; in other words, it deals with issues of human actions.

Data continues to change regularly in these complex, information-rich, and changing circumstances, and it is often contradictory. Users’ priorities change as they read more and reinterpret their ambitions. The cognitive computing method provides a combination not just of knowledge resources but of influences, meanings, and perspectives to adapt to the complex nature of users’ perception of their problems. Systems also need to weigh contradictory data to do this and suggest a response that is “best” instead of “correct.”

Let us picture a situation in which a person is making a personalized career judgment. An AI assistant can immediately determine the abilities of the job seeker, locate a relevant job where his abilities complement the role, discuss salaries and conditions, and notify the applicant at the final stage that judgment on his part has been taken. Whereas, in addition to supplying the applicant with crucial information such as necessary qualification criteria, wage reference statistics, and available job vacancies, a cognitive assistant may recommend possible career paths to the job candidate. In this scenario, though, the final judgment must always be made by the job applicant. Cognitive computation helps humans make better-informed decisions on our own leverage the computers, while AI is based on the belief that computers would make better choices on humans’ part.

In the latest state of cognitive computing, an advisor or virtual consultant performs an impressive role in the fundamental approach. Successful examples of personal assistants include Siri, Google Assistant, Cortana, and Alexa. A cognitive approach is a virtual consultant such as Dr. AI by HealthTap. It depends on the diagnostic histories of individual patients and information obtained from 105,000 doctors. It compiles a prioritized set of symptoms and, if necessary, contacts a specialist. Today, researchers are focused on the deployment in business frameworks of cognitive solutions. Some cases of use include fraud identification using machine learning, predictive analytics approach, prediction of oil spills in the manufacturing cycle of oil and gas.

Cognitive computation market renders computable meaning. To present an information collection that is ideal for a person or for a conditional application engaged in a particular process at a specific time period, they define and retrieve context features such as hour, position, function, history, or background. To identify trend by wading through vast repositories of disparate knowledge, it has machine-aided synchronicity that implements or cater to the needs of the time. Cognitive computing systems must have certain primary characteristics to attain these features. These primary characteristics are adaptive, interactive, iterative and stateful, and contextual.

Cognitive platforms must be versatile enough to grasp the variations in the content. Also, as the content and surrounding change, the platform must be able to absorb complex data in real-time and make changes. The human-computer interface (HCI) is a vital feature of cognitive systems. A certain needs shift, consumers must be able to communicate with cognitive machines to identify their demands. The platform must also be able to connect with other computers, equipment, and cloud services. Also, if the question is missing, these platforms must be able to classify problems by asking questions or drawing in additional details. The platforms do this by retaining details that have already existed about related circumstances. Cognitive platforms must recognize, classify, and extract related information such as syntax, time, place, domain, criteria, or a particular user’s profile, tasks, or objectives. It will rely on several data sources, including organized and unstructured data, as well as visual, auditory, or sensor data.

Major competitors including IBM, Microsoft, and Google dominate the current cognitive computing environment. IBM has spent USD 26 billion in big data and analytics as to the leader of this innovation and now invests about one-third of its research & development spending on improving cognitive computing technology. Global Market Database, which is the World’s first cloud based dynamic market research platform would help in estimation of the market forecast of the cognitive computing market. Many other enterprises and organizations, if not stronger than Watson, are producing services and products that are equally successful.

Being such a versatile and flexible innovation, both in the B2B and B2C sectors, the potential opportunities and options are massive. With IBM Watson, the strength and benefits of cognitive computing are now being utilized in the financial and healthcare sectors. In the future, such innovation is assumed to make individuals become more productive than ever, reduce repetitive research, and concentrate on artistic work. Companies need to perform a detailed review of their processes, data, talent model, and the marketplace in which it works to achieve the full economic advantages from cognitive computing.

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Electromobiles Market Size, Global Analytical Overview, Key Players, Regional Demand, Trends and Forecast

EU’s rapid shift from combustion engines to electro-mobiles

Cars powered by conventional combustion engines have dominated the automotive sector and the transportation segment. The gradual shift towards a carbon-free world economy has led to a shift in design perspective amongst automotive producers. Mitigating climate change and reducing the carbon footprint is one of the key drives associated with the adoption of green technology. Moreover, low carbon technologies are highly reliant on politically and geographically negotiated policies. The levels of environmental ambition and technological progress determine the national policies that boost the adoption of modular green technologies. A structural shift towards adopting a circular economy is determined by the number of green jobs and energy security generated by a market segment. The shift in trends towards electromotility has been slow and incremental on a global scale.

The electromobility based technological pathways differ on a regional basis. Some of the key sub-regions implementing low carbon trajectory with respect to the automotive sector include China, India, and Europe. The diversity helps mobilize a large range of technological perspectives associated with electronic mobility. This in turn defines a drastic shift in the transportation cluster-based logistics. Countries like Sweden have been trying to develop modular electro mobile systems that can be integrated onto existing carriers. The country has developed electrified roads that cater to logistical support. The tracks can be used to recharge the existing automobile. PostNord, a former diesel truck was the first to adopt this modular system which can be incorporated within existing roads and tracks.

Electromobility plays a subordinate role amongst German carmakers and component suppliers. The German automotive sector is majorly led by upper-middle-size luxury cars. Some of the key players within this market segment include Mercedes, BMW, Audi, and Porsche. This business model is proven to be successful since the demand in premium segments has been increasing above-average rates. Moreover, the competition is low in the low-cost car production segment for the German automotive sector. Although, high-end brands have high powered combustion engines which have difficulties in meeting the fleet emission standards within the EU. Consecutively, the German automotive sector lobbies against ambitious emission standards. This is because the trend towards decarbonization of powertrain technologies is irreversible.

The Growth dynamics of the German electromobility sector can be mapped in accordance with the EU using Global Market Database. It is a cloud-based market research platform that studies the shift in line with changing market trends. The market intelligence tool defines the next generation of market research much. The growth in trends associated with powertrains and the competitive landscape can be studied using this domain.

The industry’s specialization in high-end premium luxury cars explains why the country’s growth in electromobility has been slow. Companies like Toyota introduced HEV (hybrid electric vehicles) as early as 1997. The series production of plug-in hybrid vehicles and battery electric vehicles commenced within this country between the years 2013-2014. The country, Germany has created a National Electromobility strategy as a coordinating body to support electromobility. The strategy’s primary objective is to embody Germany as the key automotive maker and a lead market for electromobility. Although the end-user preference for high-powered cars amongst the German demographics stunts the growth associated with this market.

Consecutively, The German automotive sector’s shift towards an increased variety of propulsion technologies provides lucrative growth opportunities for this market. The hybridization strategies employed by German OEMs is one of the key factors boosting this growth. The German OEMs have been developing green lifestyle automotive systems that do not compromise on the power and performance of the high-end premium vehicular system. The technology providers have been integrating environmental sustainability with the luxury features provided by these systems. The OEMs within this region make use of concepts like modularisation and competitive specialization in order to enhance the powertrain demand across the value chain. The variety associated with the products ensures that the customers have a range of electro-propulsion systems to chose from. Moreover, the economies of scale can be made use of to keep the costs per unit low.

The rise in stringent regulations within the EU promotes the growth of this market. The target set by the EU for the year 2020 was estimated to be 95g CO2/km. The estimated target set for the year 2050 is accounted to be 10g CO2/km. This objective would require a radical transformation in the current industrial development towards ecologically sustainable means of both energies as well as power. Some of the key electro-automobile structures include Hybrid Electric Vehicles (HEV), Plug-in Hybrid Vehicles (PHEV), Range-extended electric vehicles (REEV), Battery Electric Vehicles (BEV), and Fuel cell Electric Vehicles (FCEV).

To attain this objective laid out by the EU, the U.K government has announced a complete ban on all the vehicles which are not electric or hybrid. Boris Johnson announced that the usage of petrol and diesel cars would be banned within this nation starting in 2030. Germany, France, Norway, and the Netherlands are some of the other nations that have laid down similar guidelines. Between the years 2018 and 2019, electro mobile sales grew by a value of roughly 30%. Therefore this sector is on a path to attaining a steady growth trajectory.

Global Market Database helps keep track of the shifting geopolitical and changing scenarios.  The B2B market research platform helps recognize the industry segments and the factors that drive the high growth markets. Moreover, on logging into gmd, the tool provides free market research data across 600 different markets and 12 different industries. 5 distinct markets of the users' choice can be studied through the existing database.

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Indian Textile Market Growth and Forecast Report 2020

The Indian Textile Industry and its Dynamics

The Indian textile sector is one of the oldest industries contributing to the economy of this country. The diverse culture and the varied design elements across every state of this country produces a wide spectrum of products within this market. The industry ranges from handspun, handwoven textiles to the capital intensive mills sector. The largest segment within the Indian textile industry is the decentralized power looms/ hosiery and knitting sector. The textile sector is a major component of the value chain for the agricultural industry. This is predominantly because the raw materials for weaving textiles such as cotton, wool, silk, etc are obtained from the agribusiness domain. The close linkage of traditional voracity with economics is portrayed by this business unit. India is the largest producer of cotton and jute on a global scale. The country is the second-largest producer of polyester, silk, and fibre.

As of 2019, the Indian textile industry accounted for 7% of the total industrial output in terms of value. On a holistic scale, the sector contributed to 2% of the Indian GDP in the same year. The Indian textile market has around 4.5 crore employed workers including 35.22 handloom workers across the country. The industry employed 45 Million people in the year 2019.

The domestic textiles and apparel market generated a revenue of USD 100 Billion in the year 2019. The raw cotton-based industrial sector generated an estimated production value of 36.04 Million bales in the year 2020. The production of fibre stood at 1.44MT (Million tonnes) in the year 2019. By the year 2020, the production value for the fibre segment increased to 1.60 MT. The production value for yarn was estimated to be 4,762 Million kgs during the same period.

As of 2019, the industry employed over 45 million people. The sector accounted for roughly 15% of the export-based earnings within India. A spurt in investment has been experienced by the textile sector within the last 5 years. Between April 2000 and March 2020, the market attracted Foreign Direct Investment (FDI) worth USD 3.44 Billion. The low labor costs and the high quality of products associated with this market positions the Indian textile sector as a key exporter of material goods for the fashion industry. In FY2017-18, India’s textile exports were recorded to be worth USD 37.73 Billion. The readymade garments (49.42%) and cotton textile segment (32.58%) accounted for major export shares.

The Market analysis based on the industrial data can be done using Global Market Database. The market intelligence platform provides a comprehensive analysis based on the shift-in line with changing market trends. The overall industrial trends across 600 different markets and 12 different industries can be studied using this domain. Global Market Database helps understand the worldwide standing of a regional market through Dynamic Market Data (DMD). The domain redefines B2B market research.

India’s position in the Global Textile Industry:

The textile and apparel industry is a highly labour-intensive-low-wage market. The monthly wage for a textile worker in China is estimated to be USD 270. In India, the minimum wage is accounted to be USD 255. Therefore, India offers a lucrative task force at a lower capital investment which makes it a prominent textile supplier overseas. Moreover, the Indian government has introduced several measures to enhance the growth of this market. FDIs of up to 100% is permitted in the Indian textile sector.

Additionally, U.S imposed trade based restrictions on Chinese textiles. This in turn has led to a decrease in the textile-based export segment in China. India has also chosen alternative suppliers instead of China due to the border tensions between the two nations. Over the years, India has been dependent on China for the import of synthetics, fibres, and yarns as well as textile machinery. India imports USD 460 million worth of synthetic yarn and USD 360 million worth of synthetic fabric (nylon) from China annually. India also procures USD 140 million worth of accessories like buttons, zippers, hangers, and needles.

On making a comparison to the global export data, it is seen that India accounts for roughly 0.7% of this value. Other sub-regional export segments include Bangladesh. The U.S is the largest export destination for Bangladesh’s textile industry. The country accounts for roughly 47% of the overall woven textile export sector. 50% of Bangladesh’s total apparel exports are shipped to the E.U. It is another prominent export destination. As of 2020, the readymade garment export in Bangladesh fell by 18.1% to a value of USD 27.95 Billion.

Despite this dip, Bangladesh generated more exports within this segment as compared to India. Additionally, the labor cost within Bangladesh is lower than that of India. For instance, the unit labor cost for producing a cotton shirt within the U.S accounts for a value of USD 7. Consecutively, the labor costs associated with the production of the same cotton shirt has a value of 50 cents in India. In Bangladesh, the unit labor charges are estimated to be 22 cents. Thus, making Bangladesh a cheaper and more efficient alternative. The comparative and the analytical analysis for a sector can be done using Global Market Database. The GMD industries cover a wide realm of data. The platform provides free market research reports for the first 5 gmd logins.

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Blockchain Technology in Healthcare Market Growth and Forecast Report 2020

Blockchain Technology is a peer-to-peer (P2P) distributed ledger that provides openness and trust for a new age of transaction-based services. The fundamental fabric for Bitcoin is Blockchain which is an architecture pattern composed of three major components that are a distributed network, a public ledger, and digital transactions. Blockchain technology allows, without the necessity for a centralized authority, a transparent and shared system.

Owing to the use of cryptographic standards, transfers are both encrypted and secure. In recent years, blockchain technology, largely due to the success of cryptocurrency, has been very popular and entered numerous sectors. Due to the need for a more patient-centered approach to healthcare services and to integrate fragmented systems and improve the quality of electronic healthcare records (EHRs), one area where blockchain technology has immense potential is healthcare.

There are various areas of healthcare sectors that can be improved by the application of blockchain technology. These include monitoring of devices, clinical trials, drug tracing, and health insurance. With device monitoring, hospitals may map their resources through a blockchain system, including through the device’s entire lifecycle. The information obtained can be used to increase patient care and provide after-market research to maximize productivity gains.

Many facets of blockchain technologies are attracting the interest of the healthcare industry, such as the robustness of the information stored in a blockchain. Blockchain technology is expected to facilitate the monitoring of patient history and the insurance settlement process, speed up clinical and scientific research, and enhance the maintenance of healthcare data. The core features of blockchain technology, such as transparent administration, transparent audit trails, data integrity, robustness, and increased protection and safety, are the basis for these expectations.

Health records, other than hospitals, should be owned, handled, and permitted to be accessed by data subjects. This is a central concept in patient-centered standardization that varies from standardization powered by traditional organizations. In addition to innovation-related problems, such as scalability and speed, benefits, and governance, many concerns are emerging from patient-centered interoperability, such as data standards, privacy, and security.

As a middleware technology, technology is not specifically dealt with by patients. Instead, as they do now, they may communicate with devices or websites, and the server architecture behind these devices in turn will interact with blockchains. They can, however, have the ability to empower patients with better oversight of their confidentiality and records. For instance, the technology may allow patients to access their historical data by providers while used as a decentralized record location service, and grant access to relevant parties. Hash functions should be able to have this flexibility if patients wish to make someone check and confirm their data and ensure authenticity and consistency.

Blockchain Technology is being used in clinical trials to solve the issues of fake findings and data disintegration, which do not reflect the objective of the study or the purpose of the funding source. Blockchain in clinical trials would enforce credibility. Also, it makes it possible to hold an immutable log of the approval of the subject of the trial. Blockchain can help resolve the rising dangers associated with illicit and unregistered medicines within the healthcare industry. As with system monitoring, with embedded GPS and chain-of-custody logging, it is possible to establish smart drug contracts and then classify pill packages. The healthcare industry is expected to profit with savings of USD 200 billion in establishing a chain-of-custody in the supply chain.

The impacts of Blockchain in healthcare can be studied voraciously using Global Market Database. The market intelligence tool studies the changing market trends to understand the opportunities provided by the healthcare sector. Global Market Database is a cost optimum B2B market research tool that provides free market data for the GMD industries. The platform provides cost free market solutions for the first 5 GMD logins.

Drug monitoring on the blockchain is yet another opportunity to build and monitor the custody chain from the producer to the patient by implementing the integrity of the blockchain. Chronicled is a technology start-up company that builds a custody chain model that reveals when the product was produced, where it has been before, and where it has been distributed to customers, using the blockchain’s integrity to deter prescription fraud and robbery. This enables healthcare providers, again with a focus on standardization between healthcare providers, to follow existing healthcare requirements regarding pharmaceutical supply security. The growth in market dynamics associated with blockchain’s application in drug monitoring can also be studied using Global Market Database. GMD is a cloud based market research tool that studies the shift in line with changing market trends.

A national norm for standardization in healthcare IT services is significant. This was emphasized in a UK NHS white paper published by Wachter and Hafter24 in a contrast with the United States healthcare system, which demonstrated the significance of standardization in enabling several hospitals to access patient Electronic Health Records (EHRs), as many hospitals had separate methods designed for obtaining these records from different providers. And this causes challenges for doctors and nurses, as seen in the United States. Social care and mental wellbeing are stated to have suffered, as still most hospitals and facilities continue to record and maintain data on paper in both the United States and the United Kingdom.

Blockchain Technology is helping to ease the process in its ability to flatten the existing spending on healthcare, secure patient privacy, and enhance the overall healthcare system. The technology is now being used to do everything from safely encrypting patient records to handling dangerous disease outbreaks. Estonia is one of the countries with tremendous potential for blockchain in healthcare. In 2012, Estonia, the size of Tennessee with the population of Maine, started to use blockchain technology to secure healthcare data and manage transactions. Today, all healthcare billing in the country is done on a blockchain, 95% of patient data is ledger-based, and 99% of all drug data is digital.

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Digital Payments Industry Global Growth Analysis and Forecast

Digital payments are made over the online platform and mobile channels and can also be referred to as any payment sent electronically or by mobile computing and internet-enabled smartphones. This means that for digital transfers to take place, the source of the transfer must have a bank account, a means of online banking, a payment device, and a means of transfer, which means that either he or she could have signed up with a service provider or an entity, such as a bank. The recipient of the payment must also have these means to accept payments, aside from the sender having those means. This implies that there must be a mode of transmission between the sender and the recipient where the former transfers in digital format rather than paying the latter in cash and physical form, implying that the transaction occurs through transmission modes of eCommerce or mCommerce.

Thus the “via media” by which the transactions occur is important in any digital payment, which implies that the medium and the modes of transfer are also the key elements to ensuring the transaction or the digital payment is efficient. Payment digitization was indeed a big leap towards the objective of achieving a payment system that was quick, easy, fast, and reliable. Perhaps one of the greatest benefits of digital transfers is that it speeds up the process of payment and no lengthy paperwork has to be filled in. There is no need to wait in a queue to withdraw cash from an ATM or to carry cards in the wallet. Also, banking facilities would be open to consumers on a 24/7 basis and all days of the year, including bank holidays, with the switch to digital.

The possibilities are infinite as more customers become technologically savvy, particularly as we are only now tuning into the unparalleled opportunity of global mobile penetration with 3.2 billion smartphone users in 2020 against a global population of approximately 7.7 billion. The influence of COVID-19 has further increased the change in payment habits, partly due to ease and partly due to guidance and focus on eliminating physical cash where feasible. In 2019, about 2.1 billion users have used mobile wallets. And by the end of 2020, this market is bound to rise. Users can register for free at Global Market Database to understand the market forecast for Digital Payment Market for the next ten years. Nothing but a smartphone wallet that attempts to imitate a real physical wallet is a mobile wallet solution. You can transfer money to other users with the aid of a mobile wallet, collect money from other users, and store money within the wallet. Not just that a person can also pay utility bills, purchase tickets, get discounts, and much more with the aid of a mobile wallet. Unsurprisingly, cards are still the preferred option for purchases worldwide, surpassing physical currency, but with the market expected to hit USD 1 trillion in 2020, mobile wallets are steadily gaining mainstream acceptance.

As per a report, India’s digital payment market in 2019-2020 was worth around Rs 2,162 trillion and is projected to rise more than three times in the next five years due to government initiatives on financial inclusion and rising retailer digitization. Over the next five years, cumulative mobile payment subscribers, currently standing at around 162 million, are projected to cross around 800 million. Digital transactions in India rose 55% last year, compared with 48% in China, according to data from the Bank for International Settlements (BIS). This was largely the product of the deep smartphone penetration of India’s vast population that was underserved by the conventional banks. As a result, digital payments have increasingly become a transaction process, which also got a lift from the Unified Payments Interface (UPI), which makes real-time payments between bank accounts simpler.

Moving to the digital payment model for countries such as India indicates that there is a huge need and opportunity to get all the stakeholders in the payment value chain into the digital framework. Given that financial networks and links to banking facilities are largely situated in urban areas, the transfer of all individuals to the digital network poses tremendous challenges. Also, most merchants lack POS devices, and this is where the trick can be performed by service providers such as Paytm and the government’s newly introduced BHIM App. Furthermore, as much of the nation has already been identified under the Aadhar cards, using such biometric data, it is simpler for the government to build a digital backbone. Therefore, while the path to a digital economy is still daunting, the basic elements exist to ease the journey.

As announced on October 21, 2020, Razorpay, a payment processing corporation, became the fifth Indian Fintech player to reach a USD 1 billion value. Over the last decade, this development in the fintech industry has come with a series of developments. China is a pioneer in digital payments currently, and India has become a capable follower. India records about one-eighth of China’s transactions, but it matches China’s rise. China is currently the world leader in the use of mobile wallets, with approximately 70% of Chinese users actively using mobile wallets. In 2020, the nation is estimated to produce approximately 80% of worldwide mobile wallet revenue, and with these numbers, China is also predicted to be a major contender in the fight for a truly cashless society.

In India, three out of four money transfers are carried out by cash due to only a third of the population of India having access to the internet. In comparison, 20% of Indians have no bank accounts. There has been a gradual but steady drive into digital payments since 2016 and has now seen an increase in adoption since the outbreak of the COVID-19 virus.   Digital payments are expected to continue to be impacted and influenced by the outbreak, but the infrastructure and mobile phone penetration enable digitalization for steady growth.

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Indian Healthcare Market Growth and Forecast Report 2020

Indian Healthcare Market:

India has a Universal Healthcare model which is moderated at a state level. In the year 2019, the overall healthcare spending for this nation accounted for roughly 1.23% of the national GDP. The net government spending amounted to a value of USD 36 Billion. The Parliament of India endorsed the National Healthcare Policy in the year 1983. The agenda was revised in the years 2002 and 2017. As of 2017, the rising instances of non-communicable diseases have increased. Therefore, the policy was updated in the same year to favor this change in trend.

According to data obtained via the World Bank, it is seen that in the year 2015-healthcare accounted for 3.89% of the GDP. The government based healthcare expenditure accounted for only 1% of this value. In the same year, the out of pocket expenditure was valued at 65.06% of the total expenditure. The health care sector attained an overall worth of USD 140 Billion as of 2016.

The total change in market trends and the impact of COVID-19 can be studied using Global Market Database. It is a cost-effective, dynamic cloud-based market research platform that adheres to the shift-in line with changing market trends. The market research tool provides information across 600 different markets and 12 different industries. Global Market Database provides free market data for the first 5 GMD logins. This B2B market research tool helps obtain free industry reports on logging into the domain.  

Programs promoting healthcare based services

Ayushman Bharat is a government-funded public healthcare program launched within India. The policy covered 50% of the bottom line population. The policies catered to providing free healthcare services to people below the poverty line. This policy allowed the lower strata of the population to obtain equal healthcare facilities as compared to the affluent classes. The scheme covers roughly 40% of the Indian population. The scheme is anticipated to cost USD 1.7 billion each year. A part of the healthcare distribution is provided through the private sector.

Healthcare segments within India

The Public Healthcare facility is free to every citizen within this nation. This facility was devised to provide hospital-based services to all the socioeconomic classes of the society. The Public healthcare domain constitutes roughly 18% of total outpatient care in addition to 44% of the overall inpatient care. According to the class-based segments, it is seen that the people below the poverty line generally make use of public health care services. The Middle Class and Upper class of society make use of private health care facilities.

The private healthcare sector accounts for the maximum segment based shares within this market. Therefore, the government of India has promoted the growth in private healthcare in conjunction with limited public healthcare programs. Moreover, a larger share within the population of this nation procures healthcare services through direct means of payment. A minority sector within India uses insurance-based services to cover healthcare charges.

The private healthcare sector accounts for 58% of the hospitals stationed within India. It amounts to roughly 29% of the hospital beds and 81% of the doctors within this nation. The private healthcare amenities account for 70% of the primary health care source within urban residents. The facility caters to roughly 63% of the overall rural population in India. The private sector consists of 29% of beds in hospitals and 81% doctors in this country. In the year 2013, a survey was conducted by the IMS Institute of Healthcare Informatics across 12 states and 14,000 households. The survey indicated a steady increase in the number of users of private healthcare services across both urban as well as the rural population. A comparative analysis based on the private and public sector data can be done using the Global Market Database. The market research platform conducts global market research and provides business market intelligence solutions.

The Pharmaceutical sector acts as a for a major supporting segment for the healthcare division. The history associated with patented drugs has shifted with the trends of the society and the legislative requirement. In the year 1970- India banned medical patents. In the year 1995, the Indian government signed the TRIPS Agreement. The policy allowed Indian pharmaceutical companies stationed within India to produce any patented product for a fee. This policy was taken into action for the production of Nexavar- a cancer drug. Although in the year 2015, it was stipulated that a drug could not be patented if it did not result in the know enhancement associated with the efficiency of the medicine.

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What accounts for Rapid long-term Healthcare growth in U.S spending?

The primary driver for the US Healthcare Market is the advancing healthcare facilities in the United States, for instance-Sovandi was a specialty drug that was developed in the year 2013 for the treatment of hepatitis C.The treatment costs incurred for complete recovery of the patient amounts to a value of USD 95,000. Additionally, the rising personal income amongst the U.S population accounts for another factor that propels the market growth. According to sources, a major segment of the disposable income is typically spent on healthcare products and services.

Alternative factors like the aging population of the United States serves as an element that augments the growth of this market positively. By the year 2030, it is estimated that one in five Americans will be people born between the years 1946-1964. Therefore, as the group ages, the care and support required by these citizens are expected to increase.

Additionally, the life expectancy (at birth) was around 73.3 in the 1980s. The life-span of an average human being grew to a value of 78.3 by the year 2015. As of 2019, the life expectancy has gone up to 78.87 years i.e. the value increased by a factor of 0.08% as compared to 2018. This steady growth in terms of lifespan is an outcome of the increased medical research and technological advancements within this sector. Reduction in malnutrition, increase in sanitation and infectious disease control are some of the other factors that are likely to have supplemented this organic growth.

Healthcare as important conjunction for the New York Economy

As of 2020, the healthcare sector constituted 40% of the 87,200 jobs created throughout the city. Home-care services provided a major thrust for the growing market. Although according to the comptroller, the home-based health care workers were amongst the least-paid employees of the healthcare market. In the year 2019, the Empire State added 12,300 social assistance workers who provided help as well as support for elderly people with disabilities. Research conducted by the Economic Modelling Specialists International indicated that for every 100 new direct health-care jobs created in the NY city, an additional 107 induced jobs were delivered within the state.

A Healthcare market analysis would expose huge the economic support provided to the GDP of the U.S. The strong employment trends within this city are expected to boost personal income, sales as well as tax collection. Therefore, aggradation in terms of the expanding employment rate is expected to enable the city to afford new services and to balance the budget.

Segmentation based on New York healthcare market:

The healthcare industry can be classified based on Hospitals, Nursing and Residential care, Offices of health practitioners. Home health-care as well as Outpatient, Lab & Other Ambulatory care. The hospitals’ segment constitutes roughly 45% of the overall jobs generated within the industry.

Market distribution and growth of the healthcare industry

The healthcare providers within the United States are largely owned by distinct private businesses. Roughly 58% of the community hospitals within this area are non-profit. Government-owned healthcare units constitute 21% of the geographic spread and the for-profit based hospitals constitute another 21%.

The National health expenditure for the US Healthcare Market is expected to grow by a value of roughly 6% per year until 2027. Additionally, healthcare-based spending is anticipated to grow 0.8% faster than the GDP over the coming years, it is expected to reach a value of 19% approximately. Additionally, the prices for health care reports are also expected to grow by 1.1%.

Healthcare coverage is provided through a combination of private health insurance and public health services(e.g., Medicare, Medicaid). The US Healthcare Market does not have a universal healthcare program to provide aid in terms of medical support. Although, New York facilitates healthcare amenities to its population with the help of MetroPlus. This program offers low cost to no-cost health insurance coverage to eligible people living in NYC, Manhattan, Brooklyn, etc. NYC MetroPlus assists the uninsured yet documented population in terms of gaining access to the city’s pipeline of public hospitals and clinics. One major downturn of this service is that it can only be procured by people who have been enlisted as legal occupants of the area.

Healthcare market research reports obtained from the mayor’s office situated in the big apple, roughly 30,000 New Yorkers were undocumented immigrants who didn’t have access to health care facilities. In order to address this problem, De Blasio introduced a government-run health insurance facility called the NYC Care that aims to help ineligible people. Citizens of the city who are uninsured and have lived in the area for over 6 months can make use of NYC Care to get connected with a primary doctor. The public health program also provides other features like specialty care like mental health and substance abuse services.

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Mass Transportation Market Growth and Forecast Report 2020

The pandemic of COVID-19 had a major impact on Mass Transportation. The demand-supply differences are evident in every market. Trade has plunged all over the globe as Covid-19 overturns the global economy. The combination of government lockdowns and concerns of outspread of the virus through the use of mass transport modes have impacted the transport sector. The crisis has impacted all modes of transport, from vehicles and public transport in cities to buses, trains and aircraft, both nationally and globally. Global road transport activity by the end of March 2020 was nearly 50% below the 2019 average and commercial flight activity nearly 75% below 2019 by mid-April 2020.

The entire Wuhan Metro network, along with all Mass Transportation in the city, including national rail and air travel, was shut down on 23 January 2020 to stop the spread of the virus. On 24 January 2020, the day after the shutdown in Wuhan City, Beijing Subway began testing the body temperature of passengers at the entrance points of 55 subway stations, the three major train stations and the capital airport. By 27 January 2020 temperature controls were extended to all subway stations. To better monitor the spread of the virus, some Line 6 trains have been fitted with smart security cameras which can identify passengers who do not wear masks.

The Verge announced a decrease in ridership of 18.65% on March 11’s New York City Subway network compared to a year earlier. New York City Bus ridership was down 15%, Long Island Railroad ridership was down 31% and Metro-North Train ridership was down 48%. Sound Transit, which operates in the metropolitan area of Seattle, saw a 25% decline in ridership in February compared to January, and a 15% decline in the city’s ferry ridership on 9 March 2020 compared to a week prior. These declines became much more pronounced in late March and April, as the implementation of widespread closures of schools and businesses and “shelter-in-place” orders began. The overall demand for Mass Transportation was down by an average of 75% across the country, with estimates of 85% in San Francisco and 60% in Philadelphia in April 2020 in the USA.

The shutdowns would be a temporary measure that would be suspended once the pandemic ends, New York stations were closed overnight for cleaning from May 2020. The agency MTA (Metropolitan Transit System) announced that their families would be eligible for USD 500,000 in death benefits. By 1 May 2020 98 transit employees had died because of COVID 19. The strict lockdown was also imposed in the United Kingdom in March 2020 which resulted in a 95% decrease in London underground travel. It is backed by data from one popular mobile transport planning app showing that trips have fallen by more than 90 % since the crisis began in several major cities around the world.

Precautionary measures defined by WHO is expected to be followed by the drivers to ensure passenger safety. It’s suggested in Ola and Uber rides that both rider and driver should wear a mask. The passengers should confirm that they have taken specific safety steps each time they ride and that even drivers are required to complete a similar checklist. Before and after each ride, all high contact surface area should be washed with a sanitizer. Drivers should have a daily temperature check and should stop driving and rest if the driver has a high temperature above the normal temperature.

Most of the buses have incorporated very few passengers to keep physical space. By maintaining room between two passengers, zone-wise queuing, screening, and station control crowds, the Government is expected to take major steps for the reinstatement of metro trains. All preventive measures are also taken by airlines, with a view to the health and safety of aircrews and passengers. Best available Personal Protective Equipment (PPE) kits are provided in all airlines to ensure the safety of cabin crew. Wearing masks is compulsory for all passengers and they must go through thermal scanning and travel is not allowed to those with high temperatures.

The pandemic has shattered the basic economics of a profitable business model in mass transportation. The worst hit is the aviation sector, with IATA predicting that the recovery would be spread across 2-3 years. The pandemic has also acted as a driver for early retirement of large aircraft fleets. It is also expected that the sub 100-seater aircraft could experience high growth post COVID. This can be witnessed from the shift in airline buying pattern, wherein most of the orders are postponed or deferred.

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The past two decades have witnessed an increase in similar pandemics, it is possible that a few COVID habits like wearing masks might continue post COVID due to the psychological fear factor. It is obvious that in the Post COVID-19 scenario, the mass transportation sector is expected to see a rise. However it would be interesting to witness the pre checks required and also if equipment like thermal scanners and mask vending machines would be a part of the mass transport OEMs manufacturing list. Similarly, it would be interesting to see if road mode of mass transport also replicates the shifts towards lesser passenger capacity vehicles, similar to the airline trends. If yes, then we can expect a transport revolution in the Post COVID era in the mass transportation market. Business Leaders interested in following this market could use Global Market Database to get updated market numbers.

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Electric Vehicle Batteries Market Global Growth Analysis and Forecast to 2020

There is a growing interest in the research and production of batteries used in electric and hybrid vehicles, owing to the high demand for fossil fuels on the global markets, along with the deterioration of environmental concerns induced by the high rate of internal combustion engine vehicles. One of the major determinants of climate change is the transport industry, with 23% of greenhouse emissions originating from this sector, second only to the industrial sector. That is why the "Paris Declaration on ElectroMobility and Climate Change and Call to Action" was adopted in 2015. The primary purpose of this policy is to minimize global warming by more than 2 degrees. This target would be reached if 35% of the overall number of cars sold by 2030 are electric vehicles.

Electric Vehicle batteries are very distinct from those used in consumer electronic devices such as smartphones and laptops or computers. Within a small space and weight and at a reasonable price, they are required to handle high power and high energy capability. The innovative battery technologies that are optimal for Electric cars all over the globe have earned substantial development efforts and funding. The United States government, through the Department of Energy (DOE), has been closely promoting its Research and development efforts in advanced batteries. Grants of approximately 2 billion to speed up the production and development of the next generation of United States batteries and EVs have been passed. Also, the European Commission and governmental organizations in Europe and the Japanese Ministry of Economy, Trade, and Industry have consistently supported advanced battery R&D activities. BYD, Lishen, and Chunlan have acquired positive subsidy assistance from the Chinese government for its research and manufacturing of advanced batteries and electric vehicles.

Lithium-ion batteries, nickel-metal hydride batteries, and Lead-Acid batteries are the major main battery systems used in Electric cars. Previously, owing to their proven technology, easy availability and low cost, most electric cars used lead-acid batteries, with the particularly notable exception of some early BEVs, such as the Detroit Electric, that used a nickel-iron battery. Lead-acid batteries wind up being a large (25-50%) major component of the final weight of the Electrical vehicles. Nickel-metal hydride batteries have particular energy of 30-80 Wh/kg, far better than lead-acid, although less efficient by 60-70% in charging and discharging. , Nickel-metal hydride batteries can have an exceedingly long lifespan if used adequately, as has already been proved in their use in hybrid cars. Although, poor efficiency, high self-discharge, very delicate charge cycles, and poor cold-weather performance are downsides of Nickel-metal hydride batteries.

Batteries with lithium-ion (Li-ion) have a higher efficiency than typical rechargeable batteries with lead-acid or nickel-cadmium. This means that manufacturers of batteries can save room, limiting the battery pack's overall size. The lightest of all metals is lithium, too. Lithium-ion (Li-ion) batteries, however, do not contain any lithium metal; they contain ions. An ion is an electrically charged atom or molecule caused by the loss or gain of one or more electrons. Lithium-ion batteries are often safer than certain options, as battery makers guarantee that in the unfortunate event of a battery breakdown, protective precautions are in place to protect customers. Manufacturers, for example, equip electric cars with charging protections to secure the batteries over a limited span of time during repeated fast charging sessions.

Although the emission-reducing features of electric vehicles are widely known, batteries using metals such as cobalt, are still controversial. SVOLT, headquartered in Changzhou, China, has announced the launch of cobalt-free batteries developed for the Electric Vehicle Industry. In addition to reducing rare earth metals, the company claims that they have higher efficiency, which could lead to electric vehicles with ranges of up to 800 km (500 miles), while also extending the battery life span and increasing safety. As reported on November 17, 2020, SVOLT Energy Technology plans to construct its first European lithium-ion cell Gigafactory in Saarlouis, Germany. The proposal foresees a USD 2.4 billion investment in 24 GWh annual production capability, which would be adequate for 300,000-500,000 electric vehicles. Production is expected to commence within three years, at the end of 2023.

Presently, the Electric Vehicle Battery industry is the market is driven by organizations from only three nations, all of them in Asia: China, Japan, and Korea. In 2018, less than 3% of the total global demand for Electric Vehicle batteries was provided by organizations outside these three nations, and only approximately 1% was delivered by European organizations. Of the 70 giga-factories announced worldwide, 46 are premised in China. Europe does not have a credible industrial strategy to target large-scale manufacturing of batteries, unlike China. In September 2019, Netherlands-based Lithium Werks, which already has two plants in China, announced plans for another. The company says it chooses to establish plants in China because the infrastructure is better, and the permits required to build a manufacturing plant are easier to obtain.

The estimated demand for batteries from Electric Vehicles manufactured in Europe is more than five times the number of projects currently reported in Europe, including Northvolt in Sweden, LG Chem in Wroclaw, Samsung SDI in God, and CATL in Erfurt, for example. Either battery imports or new battery production capacity in Europe would have to fill this void. As announced on November 17, 2020, CATL, a battery manufacturer from China, has plan to spend USD 5.1 billion to build a production facility for electric vehicle batteries in Indonesia, the country's top investment. CATL scheduled USD 6.8 billion in sales worldwide making it one of the nation's biggest electric vehicle battery manufacturers. The firm supplies carmakers including Hyundai, Honda, BMW, Tesla, Toyota, Volkswagen, and Volvo with batteries. The investment shows that the ambition of Indonesia to become a major player in the global supply of green energy is gaining traction.

[globalmarketdatabase]

Smart Meters define the new era for Energy Conservation

The Global Smart Meters Market attained an overall revenue of USD 13 Million in the year 2019. Countries like the U.K have been introduced government based roll out programs to increase the usage of smart meters amongst consumers. A surge in environmental awareness and energy conservation drives promotes market growth.

Smart Meters Market Overview:

An electronic meter that records the current and voltage usage, as well as power output, is known as a Smart Meter. It is a two-way communication device between the meter and the central system. The information can be transmitted through both wirelesses as well as fixed wired connections. These devices help relay the consumer’s consumption pattern to the end-user. Electronic suppliers make use of this system for customer billing facilities. These systems record energy consumption in real-time through short intervals during the day. The technology employs an advanced metering infrastructure to facilitate communication through both lanes.

A smart meter implementation Program was initiated by the U.K based governmental body BEIS (the Department for Business, Energy and Industrial Strategy). The program was initiated in the year 2009. The scheme pledged to provide 53 Million Smart meters to over 26 million homes. The government’s original aim was to get these systems installed by the year 2019. Although according to the new agenda- the installation would potentially attain its target in the year 2020. The rollout associated with this initiative commenced in the year 2011.

The gross cost estimated for the implementation of this program was calculated to be USD 14.54 Billion in 2016. The gross benefits associated with this program were assessed to be USD 22.15 Billion. The net benefit was recorded as USD 7.61 Billion. 49% savings were calculated with respect to the supplier’s cost. 32% of energy savings were recorded in the same year. On average, the households that make use of both gas and energy were poised to have savings worth USD 14.56 Billion per year by 2020. Consecutively, by the year 2018, it was recorded that the cost of installation exceeded the calculated value by USD 661.92 Million.

The overall dynamics associated with the Smart Meters Market can be studied using the B2B market research platform, Global Market Database. Dynamic Market Data (DMD) Technology is used to update the industrial analysis provided by Global Market Database. The cloud-based market research platform provides information across 600 different markets and 12 different industries. This Market intelligence tool promotes cost-effective market research.

Smart Meters Market Trends:

In the year 2019, the Global Smart Meters market was estimated to be USD 13 Billion. The smart meters market is anticipated to expand with a growth dynamics of 5% during the forecast period (2020-2028). The rising investment in smart grids boosts the adoption of smart meters in the global markets. The rising consumer awareness with regards to the conservation of energy is one of the key drivers for this market. Moreover, the per-unit charge associated with electricity has increased over the years. This is predominantly due to increased reliance on conventional sources of energy. Forecast and scenario analysis for this market can be deciphered using the Global Market Database. The market analysis tool provides free market data for the first 5 logins.

Segment Highlights within the Smart Meters Market:

The three key types of smart meters include- electric meters, water meters, and gas meters. Electric meters are expected to hold the largest market share within the smart meters sector. The regulatory and mandatory roll out policies within this sector are expected to propel the market growth. Moreover, power utility sectors have also been investing in the procurement of smart meters. The increased operational efficiency associated with smart data is one of the key factors that promote the expansion of this segment.

Smart Meters and Digitalization of Water Supply

Developing countries like India have a huge population density. Therefore, the utilization of energy per unit area is also higher. It is essential to monitor the usage associated with the resources due to the high demand and strained supply within this market. Additionally, India’s water shortage has proven to be one of the factors that serve as a challenge while combating COVID-19. Roughly 600 Million people experience water shortage within this country. According to recent records, nearly 200,000 people die due to inadequate water supply. While 163 Million people lack access to clean and safe water.

The country plans on initiating programs that could potentially lead the change in building a Water Smart and Resilient India. India plans on optimizing their water economy with the help of Smart Meters. The Digitalization of the water economy would provide the nation with lucrative means of water management. The modular system would integrate concepts like IoT supporting Data-Driven models.

These systems will have the ability to optimize the functioning of smart pumps, valves, actuators, and sensors. Therefore, the devices would have the ability to communicate with each other. Utilities can analyze, automate, correct in real-time, predict, and minimize risks by adopting digital infrastructure. The system would reduce leakages, attacks, or other abnormalities in the distribution network service levels. The installation of this system would promote water conservation.

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Speech Analytics Market (2020 to 2025) - Growth, Trends, and Forecasts

Speech analytics market initially became popular around 2002. Its impact has grown significantly since then. Today, for businesses who want to maximize productivity, operator productivity, compliance, sales and consumer engagement, the level of precision of these applications and the pace of consumer insights they deliver have made speech analytics a must-have versus a nice-to-have. With the growing demand for data for corporations, speech analytics market has expanded to cover more than just telephone calls. Speech analytics can evaluate communications via phone, email, text, webchat, and social, also known as customer experience analytics, interaction analytics, and voice of customer analytics. The application transcribes 100% of interactions and converts them into searchable, organized information that can be used by organizations to obtain insight into what clients feel or think.

Originally referred to as audio-mining, in which audio files were translated to text to make searches of particular terms or keywords, speech analytics now includes in-depth phonetic-based searches with the potential to identify certain feelings conveyed on a phone call as well as patterns within a call, including hold times, silent gaps, or caller-talking agents. Call centers can provide improved consumer interactions through emerging technology, including real-time speech analytics, emotional analytics, and Artificial intelligence.  According to a survey, an impressive 72% of organizations agree that speech analytics would lead to enhanced consumer service, 68% consider it a cost-saving tool, 52% believe that the implementation of speech analytics would contribute to an improvement in sales.

The majority of consumers equate silence with an agent’s negligence. A major insurance corporation noticed that about 74% of silence periods were indeed correlated with a lack of information. Through a Speech Analytics system, they ran every dialogue, giving them a good understanding of which agents had the lengthiest silence periods. They followed-up by continuing to examine right before the silence time what had been said. By doing so, they learned unique problems for which more training was required by their operator. According to the problems outlined, specified training increased efficiency by more than 20%. Also, consumers became more appreciative of the service.

In a case, study cited by an industry consulting group, one company in the United States said it might analyze the variations of high and low speech rates in design and implementation to determine various emotional factors by listening to simply 10 seconds of an individual communicating. For example, the speech analytics application identified the core emotions of practicality, frustration, and authority, with subtle signs of provocation, cynicism, and ridicule, in an analysis of a clip of President Barack Obama talking in a debate against then-Republican presidential nominee Mitt Romney. The same organization reports that for phonetic language, its speech analytics is 81% accurate and 75% accurate for tonal languages such as Mandarin Chinese and Vietnamese.

The North American speech analytics market was valued at USD 614.1 million in 2019. The increase in the number of United states contact center seat credits for the rise in the value of speech analytics. Between April 1, 2019, and June 30, 2019, the United States call center sector gained 20,499 jobs after the previous quarter’s gain of 7,965 new jobs, according to jobs4america. New deployment areas, increased demand for cloud analytics and risk management tools, and the need for real-time and analytical capabilities are other factors for North America’s rise in speech analytics. The heart of the adoption curve in the United States is also a rising focus on customer service.

One other example is of Desmer telephone contact center, part of Sekerbank, one of Turkey’s largest financial institutions, tried to boost the outcomes of consumer transactions, but there were no manual means of reliably reviewing all the calls that came in regularly. The bank was also mindful of the effect on consumer loyalty of unpleasant interactions with consumers and the impression of its overall corporate profile. The bank agreed to accept speech-to-text technologies that could discover root causes and latent perspectives through analytics by transcribing calls to digital text. It also introduced an application for emotion detection that evaluated and reported substantial results on dysfunctional conversations arising from consumer frustration by using as evaluative metrics the ratios of anger, monotony, disruption, and silence.

Nexidia a one of the leading American Software Company scans and analyses the original captured audio and introduced Forensic Search with its Enterprise Speech Intelligence (ESI) 6.0 update, a functionality that enables end-users to easily ad-hoc search for large audio sets. Nexidia is not strategically allied with any of the quality control players but can integrate with vendors such as etalk, Good Systems, Witness, and Verint, and indigenous devices with a range of recording devices. Utopy is another organization in the United States that explicitly analyses speech data and can connect phrases in the spoken sense to determine the precise meaning. The organization can monitor calls and classify activities through its SpeechMiner suite; provide stats on agent success and customer satisfaction and allow users to create unique business events or categories. Utopy deals with Envision Telephony, a quality control service, but can combine with recording devices from other recording suppliers.

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Covid 19 Positive Impact on Electronic Prescription Industry 2020

The Center for Medicare and Medicaid Services (CMS) describes e-prescribing as the transfer, either directly or by an intermediary, including an e-prescribing network, of prescription or prescription-related data via electronic media from a prescriber, dispenser, pharmacy benefit manager, or health plan. E-prescribing requires but is not limited to two-way transfers between the point of treatment and the dispenser.

The manner patients, prescribers and pharmacists communicate has been altered by e-prescribing. The doctor's handwritten note that was once unreadable or lost in transit is now a safe, automated transaction that automatically arrives at the pharmacies. But the possibility for contradictory records, inconsistencies, or misinterpretation, with 40 separate data elements in each electronic prescription, ensures that human supervision is always required to ensure that the pharmacy dispenses the right drug expected by the prescriber. As a result of these limitations, prescribers and pharmacists are required many times during the day to abandon their routine to make phone calls, struggle with fax machines, and make manual medication clarifications. And these distractions easily add up and can cause the patient not to take the drug required as expected. Non-adherence to prescription causes up to USD 300 billion per year in avoidable healthcare costs in the United States.

The introduction of electronic prescribing in the 2003 Medicare Modernization Act (MMA) brought impetus to the trend, and significant attention was given to the July 2006 Institute of Medicine study on the role of e-prescribing in limiting prescription errors, helping to increase awareness of the role of e-prescribing in improving healthcare. The Centre for Medicare and Medicaid Services (CMS) announced benefits for doctors who implement and use this technology, and USD 19 billion for health information technology (HIT) was authorized under the 2009 American Recovery and Reinvestment Act. Moreover, in the steps for identifying physician practices as medical homes, the National Committee for Quality Assurance requires e-prescribing.

E-Prescribing has been shown to reduce pharmaceutical prescription-related adverse drug outcomes and filling error rates have decreased from 42.5 per 100 prescriptions to just 6.6 per 200 prescriptions. In contrast to human error, e-prescribing systems exist at a much more effective and accurate rate. Aside from technological challenges, doctors may use E-prescribing to monitor how many doses of controlled drugs a patient has got. This decreases over-prescription and increases the likelihood of patient care. E-Prescribing also helps doctors to instruct patients about drug treatment if they can fail to pick up a prescription or file it. Providers gain insight into the pace at which prescriptions for controlled drugs are filled by patients, making it easier to detect future opioid misuse.

Today in the United States, inadequate compliance to drug treatment is a major and expensive problem. As many as 50% of patients do not stick entirely to their drug care, the World Health Organization reports. In the context of elevated hospitalizations and expensive complications, this non-adherence leads to 125,000 early deaths yearly as well as to other patient safety issues that cost the healthcare system an estimated USD 290 billion annually.

It is a world that drives people to exchange data more easily, safely, and effectively. The federal government drafted new regulations on communication blocking and interoperability as part of the 21st Century Cures Act. Only 46% of U.S. hospitals and 10% of office-based doctors can identify, send, obtain, and incorporate patient health records online from outside sources, the new report from the Office of the National Coordinator for Health Information Technology reveals.

The impacts of government regulations associated with this vertical can be studied using Global Market Database. The dynamic cloud-based, B2B market research platform ranges across 600 different markets and 12 different industries. The domain is cost-effective as compared to a typical market research report. It provides a wide arena of information at a comparable price. The forum is the future of market intelligence. Global Market Database allows access to 5 different markets, free of cost on registration.

The pandemic of COVID-19 has altered lives and changed expectations across the world, and the core of the sudden burst is healthcare. The federal government has released a law requiring that Medicare Part D initiatives implement real-time prescription benefit tools by 2021. Patients and prescribers, too, demand transparency in drug rates. With more details at their hands, specifically, price and coverage data, 4 in 10 providers claim prescribing would be more effective.  In the meantime, 61% of patients claim they will be able to devote more time, effort, or money to have informed prescription price discussions with their doctors, one indication that consumerism is gradually taking place in the United States healthcare.

Furthermore, for all prescriptions, some states and large drug chains in the United States also mandate that doctors use electronic prescriptions. Although laws vary from state to state, patients in Medicare Part D would be expected to use e-prescribing for prescribing controlled drugs by January 1, 2021. Surescripts is the biggest prescribing database network in the United States.  It promotes the flow of the data among pharmaceutical manufacturers and suppliers by maintaining databases that are accessible from most clinical applications offering e-prescribing capabilities. There are detailed listings of this software on their website, including EHRs and standalone e-prescribing products, and those that endorse regulated prescriptions (EPCS). In all fifty states, including Washington, D.C., EPCS is now allowed. The EPCS laws are separate from electronic prescriptions of non-controlled pharmaceuticals. EPCS help is also provided by Surescripts.