Connected Drug Delivery Devices Market to Witness Exponential Growth by 2030: Grand View Research Inc.

 Connected Drug Delivery Devices Market Growth & Trends

The global connected drug delivery devices market size is expected to reach USD 25.63 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 23.45% from 2023 to 2030. Key factors driving the market growth include the need to increase patient medication adherence, R&D initiatives, and the acceleration of remote digital monitoring. In September 2022, Ypsomed for instance, partnered with Sidekick Health to expand Ypsomed's device and SmartServices offering by incorporating a self-injection module into Sidekick's known digital therapeutics solution. Through this, patients with chronic diseases are likely to receive a personalized patient experience due to the integration of Ypsomed's devices with Sidekick's digital health behavioral economics and gamification expertise, and pharmaceutical customers will benefit from a comprehensive service, and leading digital therapy management system.

One of the technological advancements is connected drug delivery, which has a sensor that enables communication and data transfer to servers and apps over cellular, Bluetooth, and Near Field Communication (NFC) networks. One of the main benefits of these connected drug delivery systems is that it gives patients reminders and adherence trackers, reducing the effort needed to comply with the prescribed medication schedule. This further reduces the cost of prescription waste, especially that from the increasingly popular biological injectable drugs that insurance would be required to pay for. Additionally, doctors can monitor how well their patients are adhering to their recommended therapies owing to connected drug delivery systems and change the patient's care as appropriate. For instance, connected drug delivery devices can be beneficial to manage self-medication in persons with chronic diseases like diabetes and asthma. In the upcoming years, these factors are anticipated to accelerate market growth.

Worldwide rising rates of chronic illnesses like COPD, diabetes, and asthma are anticipated to propel the business of connected drug delivery devices. For instance, according to research on estimates of diabetes prevalence for 2021 that was published in January 2022 by the National Library of Medicine and National Center for Biotechnology Information, the disease prevalence among people aged 20 to 79 in 2021 was estimated to be 10.5% and could increase to 12.2% by 2045. Diabetes is thought to affect both men and women equally, however, it is most common in people aged 75 to 79. Additionally, as connected drug delivery devices with greater advantages have become more popular, manual drug administration devices have been increasingly replaced. These factors are anticipated to fuel connected drug market growth.

The global COVID-19 pandemic has had a negative impact and raised the need for healthcare services. This has accelerated the trend of redesigning the healthcare system for improved assistance and quick growth of technology. While most global markets went down in 2020, this market showed unprecedented growth despite difficult conditions and a lockdown in most countries. Due to the lockdown restrictions, there was an unexpected rise in demand for drug delivery systems for use in-home care, which resulted in an increase in demand for connected drug delivery devices. 

The report “Connected Drug Delivery Devices Market Size, Share & Trends Analysis Report, By Product (Connected Sensors, Integrated Connected Devices), By Route of Administration (Parenteral, Inhalational), By Application (Asthma, COPD, Diabetes Management), By Region, And Segment Forecasts, 2022-2030” is available now to Grand View Research customers and can also be directly purchased from 

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Connected Drug Delivery Devices Market Report Highlights

• The global market was valued at USD 4.84 billion in 2022 and is expected to grow at a CAGR of 23.45% during the forecast period
• The standalone components and software segment is expected to grow for the highest revenue share during the forecast period, owing to the increasing demand for connected sensors to transform traditional drug delivery devicesinto connected drug delivery devices without interfering with their normal functioning and can be reused even if the device is disposable
• The parenteral segment is expected to drive market growth during the forecast period, owing to the numerous advantages offered by smart & connected parenteral devices over conventional ones
• Diabetes Management dominated the market with a share of over 36.23% in 2022. This is owing to factors such as the rising prevalence of diabetes, technological advancements, and R&D in insulin delivery devices
• North America is expected to dominate the market over the forecast period. This is due to the region’s high per capita healthcare spending, rapid adoption of technology presence of key players, and growing adoption of remote monitoring for medication adherence 

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Connected Drug Delivery Devices Market Segmentation

Grand View Research has segmented the global connected drug delivery devices market based on product, application, route of administration, and region: 

Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Standalone Components & Software
• Integrated Devices

Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Parenteral
• Inhalational

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Asthma
• COPD
• Diabetes Management
• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa  
  • South Africa
  • South Arabia

List of Key Players in the Connected Drug Delivery Devices Market

• Teva Respiratory, LLC
• Novo Nordisk A/S
• Phillips-Medisize, LLC
• Medtronic
• Adherium Limited
• Tandem Diabetes Care, Inc.
• Biocorp
• Propeller health
• Ypsomed AG
• Aptar Pharma

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Golf Equipment Market Projected To Be Worth USD 11.01 Billion By 2030: Grand View Research Inc.

 Golf Equipment Market Growth & Trends 

The global golf equipment market size is expected to reach USD 11.01 billion by 2030, registering a CAGR of 5.0% during the forecast period, according to a new report by Grand View Research, Inc. Development of the golf courses around the world, increased golf tourism, the rising popularity of the sport, and growing consumer disposable income are some of the key factors fueling the growth.

The expansion of the golf equipment market is predicted to be fueled by the rise in golf tourism and government funding. Governments are promoting golf resorts to domestic and foreign tourists in an effort to increase foreign exchange through the growth of golf tourism and thereby advance the economy. Golf equipment sales and demand will increase as a result of golf tourism. Scotland, for instance, launched a new golf tourism and tourist plan in June 2021 with a focus on destination development, community involvement, education, and health. Therefore, the growth of the market is being driven by the rise in golf tourism as well as government backing.

The golf equipment market is being shaped by technological breakthroughs. To meet the market's demand for top-notch golf equipment, businesses are developing products with improved technologies. For instance, the second generation of the high-visibility range of pix golf balls was introduced in January 2020 by US-based innovation and technology leader Taylor Made Golf. For the first time, both the TP5 and TP5x models will support pixTM, a new visual technology developed in association with Rickie Fowler.

The hospitality sector continuously focuses on expanding and enhancing its facilities to attract more people. Hotels in western countries are increasingly focusing on promoting various sports activities, golf being one of them. For instance, the Prukljan project in Europe includes a hospitality tourism zone, an entertainment center, and a golf field along with other accommodation capacities. The golf area has been planned on about 160 hectares and will include a golf course surrounding at least 60.0% of the total area.

Moreover, golf being more of a personal game, the manufacturers are required to have detailed scrutiny while manufacturing various products such as clubs, balls, and gloves in particular as they are the main gears. Golf equipment is one of the most lucrative sports gear for endorsement earning opportunities, driven majorly by the profit potential from selling the products. This has resulted in the development of a new consumer profile for professional golfers. For instance, Nike’s marketing professionals have established strategies that enable the business to tap the new psychology of enthusiastic golfers. The company targeted middle-aged male golfers of age ranging from 21 to 30 by endorsing Tiger Woods.

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Golf Equipment Market Report Highlights

• The golf club segment has dominated the golf equipment market during the forecast period owing to the usage of different types of clubs for various shots played on the field.  The higher cost of the clubs is also one of the major factors contributing to its largest market share. Hybrid clubs present in the market are mostly preferred by golfers owing to their accuracy while playing shots
• The expansion of Golf Courses and an increasing number of golfers in North America are driving demand for golf equipment. Strong economic growth and  increasing expenditure power of the consumers are also primarily driving the market growth in the region
• The sporting goods retailer segment as a distribution channel dominated the largest share of around 48.5% in 2022. The availability of various brands in one place helps in easy price and specification comparison which is therefore a driving factor for people to make purchases of golf equipment from such stores
• North America dominated the global market with a share of around 53.4% in 2022 driven by the rising trend of sporting activities across the region. A rigid supply chain in the region is boosting the sales of golf equipment

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Golf Equipment Market Segmentation

Grand View Research has segmented the global golf equipment market based on the  product, distribution channel, and region: 

Golf Equipment Product Outlook (Revenue, USD Million; 2017 - 2030)

• Golf Club
• Golf Balls
• Golf Gear
• Gold Footwear & Apparel

Golf Equipment Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Sporting Goods Retailer
• On-Course Shops
• Online
• Others

Golf Equipment Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key players of the Golf Equipment Market

• Callaway
• SRI Sports Limited
• Acushnet Holding Corp.
• Taylor Made
• Titleist
• Cleveland
• Mizuno
• Wilson
• Odyssey
• Ping

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Impact of Existing and Emerging Biometrics As A Service In Healthcare Market Trends And Forecast 2022-2030: Grand View Research Inc.

 Biometrics As A Service In Healthcare Market Growth & Trends

The global biometrics as a service in healthcare market size is expected to reach USD 2.43 billion by 2030, registering a CAGR of 17.6% during the forecast period, according to a new report by Grand View Research, Inc. The market is propelled by the increasing adoption of biometrics across healthcare organizations due to its cost-effectiveness, ease of deployment, and data security management. The demand for biometrics as a service in healthcare is expected to constantly rise as healthcare organizations are realizing the need to digitize their operations and move on from the traditional method of patient record management.

Biometrics as a service helps healthcare organizations integrate their operations and services with cloud technology and also modify these services according to their convenience. An increase in the number of cyber-attacks and medical data theft has been one of the driving factors in the market. Although, the privacy of the biometric data being stored on the cloud is a rising concern, especially in the case of public cloud deployment.

The adoption of biometrics as a service increased significantly during the COVID-19 pandemic. The spread of the COVID virus was a constant risk to patients and healthcare professionals during the pandemic. Hence, the use of contactless biometrics gained popularity in a rush to contain the spread of and secure healthcare premises. Consumer apps, surveillance, remote access, and pharmacy dispensing are some of the major healthcare tools integrated into cloud-based biometrics. As a result of limitations to physical interactions, many of the patients require remote treatment/monitoring. This resulted in the adoption of biometric solutions for remote identification on a large scale.

The biometric system can supplement the user's verification to healthcare IT frameworks (online and local) and support the institution's Identity and Access Management (IAM) strategies. User verification concerning fast identity online (FIDO) specifications gives a lot less complex and far more secure system, than password-based verification, and is structured given privacy compliance for scalable and open frameworks across sites and applications.

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Biometrics As A Service In Healthcare Market Report Highlights

• The multimodal segment dominated the market with the largest market share of 54.9% in 2021, as multimodal biometric systems reduce data distortion, it is cost-effective and more accurate than unimodal
• The multimodal segment is expected to witness the fastest growth with a CAGR of 18.2% during the forecast period. Multimodal biometrics on the other hand uses two or more traits to verify and identify an individual. Multimodal biometrics has a significantly greater verification rate as compared to unimodal biometrics and hence is more popular among healthcare organizations
• Based on application, the mobile application segment held the dominant share of 41.1% in 2021. Companies worldwide have been launching initiatives to raise awareness about cybercrime and data security in recent years. The rising need for appropriate authentication techniques in mobiles is driving the mobile application segment in the market
• The mobile application segment is anticipated to exhibit a significant CAGR of 19.2% over the coming years from 2022 to 2030, owing to the increased awareness for security in mobile applications and the need as biometric technology eliminates the need for users to remember passwords, there is no risk of data loss
• Based on scanner type, the fingerprint recognition segment held the largest market share of 49.4% in 2021, by using fingerprint technology, patients and healthcare professionals achieve highly secure and assured privacy for their healthcare data. Moreover, the segment is dominating as fingerprints are different for different individuals which increases the accuracy of the results
• The facial recognition segment is expected to witness the fastest growth over the forecast period with a CAGR of 20.9% from 2022 to 2030. The facial recognition technology scans their face and compares them to a database at the hospital. Without the need for paperwork or other identification documents, the patient's identity is verified in real-time
• In 2021, North America dominated the market in terms of the revenue share of 48.7% owing to the growing adoption of biometrics as a service across various verticals within the healthcare industry. Moreover, increased demand during COVID-19 accelerated the growth of the market
• Asia Pacific is projected to witness a promising growth rate over the forecast period with a CAGR of 19.0% from 2022 to 2030. Increased terror risks and rising government expenditure on security are two main drivers driving access control solution sales in the Asia Pacific region. Furthermore, China's expanding economy produces a large need for security solutions

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Biometrics As A Service In Healthcare Market Segmentation

Grand View Research has segmented global biometrics as a service in healthcare market report based on type, application, scanner type, and region:

Biometrics As A Service In Healthcare Type Outlook (Revenue, USD Million, 2017 - 2030)

• Unimodal
• Multimodal

Biometrics As A Service In Healthcare Application Outlook (Revenue, USD Million, 2017 - 2030)

• Site Access Control
• Time Recording
• Mobile Application
• Web and Workplace

Biometrics As A Service In Healthcare Scanner Type Outlook (Revenue, USD Million, 2017 - 2030)

• Fingerprint Recognition
• Iris Recognition
• Palm Recognition
• Facial Recognition
• Voice Recognition
• Others

Biometrics As A Service In Healthcare Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Isreal

List of key players of Biometrics As A Service In the Healthcare Market

• Thales
• Fujitsu
• Aware, Inc.
• BIO-key International
• MorphoTrust USA
• NextGate, Imprivata, Inc.
• Suprema
• Imageware
• M2SYS Technology

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Peptide Drug Conjugates Market to Exhibit Impressive Growth During 2023– 2030: Grand View Research Inc.

 Peptide Drug Conjugates Market Growth & Trends

The global peptide drug conjugates market is expected to reach USD 4.21 billion by 2030, registering CAGR of 28.58% during the forecast period, according to a new report by Grand View Research, Inc. The growth of market is attributed to the global upsurge in cancer cases and related mortality, strong clinical trial pipeline with peptide drug conjugates (PDCs) and associated side effects of the existing products such as uncontrolled toxicity associated with small molecule chemotherapeutic agents.

According to WHO, cancer is the leading cause of disease related deaths, worldwide. In 2020, around 10.0 million deaths globally and more than 6.0 million deaths in the U.S. were recorded due to the cancer. Furthermore, as per cancer.gov, by 2040, the new cancer cases patients per year is estimated to reach to 29.0 million and the number of cancer-related deaths to 16.0 million. Therefore, rising demand for the novel treatment like PDCs to target uncontrolled cell growth is expected to fuel the peptide drug conjugates market growth.

Currently, Lutathera (Lu 177 dotatate) and Pepaxto (Melflufen) are the two FDA approved PDCs to treat uncontrolled cell growth. The marketplace has the FDA approved PDC as the Novartis’s Lutathera (lutetium Lu 177)indicated for somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors in adults. Later, in February 2021, Oncopeptides ABs announced the FDA’s accelerated approval for Pepaxto (Melphalan) indicated for the treatment in multiple myeloma. Presence of limited PDCs in space in offering remunerative opportunity for the growth.

Furthermore, presence of robust clinical trial pipeline and expected launch of new PDCs is anticipated to boost the market growth during the forecast period. These can attribute due to the PDC ANG1005 under phase 3 clinical studies for brain tumor, and PDCs BT5528 and BT1718 under phase 2 to clinical studies for lung cancer. CBX-12 is another phase 2 PDC candidate indicated for the small cell lung cancer treatment.

Key players are undertaking strategic initiatives such as collaborations, merger & acquisitions, agreements, along with financial investments, which is driving the market growth. For instance, in December 2021, Coherent Biopharma and WuXi STA announced the strategic partnership agreement to develop their current and future therapeutic drugs including peptide drug conjugates.

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Peptide Drug Conjugates Market Report Highlights

• By product, Lutathera segment accounted for the largest share of the market in 2022 due to the first approved PDC and global rise in cancer patients which is offering high demand for these medicines
• Based on type, the therapeutic segment dominated the peptide drug conjugates market in 2022 owing to the presence of both approved PDCs, Lutathera and Pepaxto as therapeutic agents targeting tumor cells
• North America dominated the global market in 2022 owing to the factors such as an increase in new cancer cases along with related complexity and high awareness among healthcare professionals about novel therapies

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Peptide Drug Conjugates Market Segmentation

Grand View Research has segmented the global peptide drug conjugates market based on the product, type, and region:

Peptide Drug Conjugates Product Outlook (Revenue, USD Million, 2018 - 2030)

• OctreoScan
• Lutathera
• Pepaxto
• ANG1005
• BT1718

Peptide Drug Conjugates Type Outlook (Revenue, USD Million, 2018 - 2030)

• Therapeutic
• Diagnostic

Peptide Drug Conjugates Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players of Peptide Drug Conjugates Market

• Novartis AG
• Oncopeptides AB
• Bicycle Therapeutics
• AstraZeneca
• Cybrexa Therapeutics
• Angiochem Inc.
• Innovasium Soricimed Biopharma
• Theratechnologies

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Tankless Water Heater Market Forecasted to Grow at Steady Pace During 2023- 2030

 

Tankless Water Heater Market Growth & Trends

The global tankless water heater market size is expected to reach USD 6.80 billion by 2030, expanding at a CAGR of 8.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rapid growth in the adoption of these heaters in the residential and commercial industries, as they are capable of saving space as well as energy, drives the market growth. Additionally, several tankless water heaters are equipped with energy star ratings, which make them economical and eco-friendly for buyers which increases the market growth. The high cost of a tankless heater as compared to a traditional water heater is expected to restrain the market growth.

COVID-19 had a negative impact on the growth of the market. Most leading brands experienced a decline in sales due to the pandemic. This is due to the closure of numerous manufacturing & industrial facilities and delays in some infrastructural expansion projects. However, government relaxations on enforced lockdowns, followed by the continuation of industries and procedures have increased the market growth.

The electric tankless water heaters segment dominated the market with a market share of around 70.0% in 2021. Electric devices have a long lifespan and have low ongoing maintenance and replacement expenses. In addition, the cutting-edge design of these heaters make it possible to put them in confined spaces while at the same time eliminating need for the ventilation. Therefore, it is mostly used all over the world and generated a large revenue in 2021.

Europe acquired the largest revenue share in the tankless water heater market in 2021. The UK is dominating with a large share in the Europe tankless water heaters market. High market growth is owing to the adoption of energy-efficient and economical products. This has surged manufacturing investments in the U.K. by major companies, which resulted in a higher customer-partnership experience. A large number of products with qualities such as advanced heating capabilities, low standby losses, energy optimization, remote manageability, and Wi-Fi connection are the various factors that increased demand for the products in this region. Thus, Europe generated the largest revenue in 2021.

Various manufacturers are now concentrating not only on innovative product development but are also effectively generating sales and distribution networks for their products. Consumer focus is increasing on online product research for the data relating to their buying. As such, companies of tankless water heaters are growing their market presence and product availability online.

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Tankless Water Heater Market Report Highlights

• North America is expected to dominate the market during the forecast period from 2023 to 2030. This is owing to the continuing growth of innovative technology and the high demand for tankless water heaters in the business area. These factors fuel the modern trends in tankless water heater manufacturers in North America
• Electric tankless water heater segment is likely to grow at the fastest CAGR during the forecast period. An increase in demand for electric tankless water heaters in several applications such as commercial, residential, and industrial is likely to augment the growth of the market during the forecast period
• Residential segment is expected to dominate during the forecast period. An increase in awareness that energy consumption contributes considerably to global warming is one of the key factors driving demand for energy-efficient tankless water heaters in the residential sector, thus it is expected that the segment will expand at the fastest CAGR, during the forecast period

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Tankless Water Heater Market Segmentation

Grand View Research has segmented the global tankless water heater market based on product, application, and region:

Tankless Water Heater Product Outlook (Revenue, USD Billion, 2017 - 2030)

• Electric Tankless Water Heater
• Gas Tankless Water Heater

Tankless Water Heater Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Residential
• Commercial

Tankless Water Heater Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List Of Key Players in Tankless Water Heater Market

• O. Smith
• Rheem Manufacturing Company
• Rinnai Corporation
• Bradford White Corporation
• Robert Bosch LLC
• EcoSmart Green Energy Products, Inc.
• StiebelEltron Inc.
• Takagi
• Noritz America
• Navien Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Artificial Intelligence As A Service Market Expected to Succeed in CAGR of 37.1% by 2030

 Artificial Intelligence As A Service Market Growth & Trends

The global artificial intelligence as a service market size is expected to reach USD 96,064.7 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 37.1% from 2022 to 2030. Artificial intelligence as a service (AIaaS) is a third-party artificial intelligence outsourcing service that allows large enterprises and SMEs to explore development opportunities without requiring a significant initial investment. It enables businesses or end-users to experiment with AI for various applications while limiting initial investment and risk.

The increased R&D efforts of AI as service vendors and governments across countries are driving the artificial intelligence-as-a-service market. Furthermore, greater AIaaS integration with blockchain and increased investment in AIaaS by governments and end-users are likely to drive the artificial intelligence-as-a-service market. For instance, in July 2022, the United Nations Development Programme (UNDP), a United Nations agency, and the Telangana government established data in climate resilient agriculture (DiCRA), an AI-powered platform service focused on providing farmers with climate change information. The AI platform can identify farms that are robust to climate change and others that are vulnerable using pattern detection algorithms and remote sensing.

Furthermore, progressive enterprises are adopting artificial intelligence and other digital technologies to improve the overall work experience. Employees need fast support to stay productive with the change to work from anywhere, whether they have an HR request, an IT problem, or a query about the spending policy. Traditional service desks lack the speed and scale necessary to provide a hybrid workforce with 24/7 assistance in real-time. To completely solve this issue, AI as service providers offer employees the assistance they require in a matter of seconds. For instance, in July 2022, Moveworks, Inc., an artificial intelligence startup based in the United States, announced a collaboration with Tata Consultancy Services Limited. This partnership enables customers to revamp their service desks with AI, and they can rely on the partnership's expertise and technology to automatically support their personnel.

More firms are investing in AI technologies and exploiting AI skills to keep ahead of global competition. The increased usage of social media and the Internet of Things (IoT) is driving demand for AI technology. Furthermore, many AI technology vendors find that providing AI tools and software is insufficient since many enterprises are searching for outsourcing services. As a result, the market has witnessed an increasing demand for AI services. Businesses can improve their productivity by implementing AI-powered IoT solutions in industries such as manufacturing, retail analytics, self-driving cars, and others. This is projected to fuel the market for AI as a service. For instance, in May 2021, Bosch Global Software Technologies Private Limited introduced the Phantom Edge, an AIoT platform that provides a real-time picture of electrical energy usage and addresses energy efficiency challenges in various industries. The platform collects energy signatures and ML algorithms on edge using non-intrusive sensors. It processes these signatures to provide a real-time picture of electrical parameters, energy consumption, operating utilization, and appliance-level information, producing its digital twin.

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Artificial Intelligence As A Service Market Report Highlights

• The increased spending on artificial intelligence adoption and technical improvement for workflow optimization drives the demand for AI as a service  
• The increased usage of cloud-based solutions and the need for artificial intelligence and cognitive computing drive market expansion
• Managing massive amounts of data alongside other business activities becomes challenging for enterprises, creating a demand for managed and professional artificial intelligence (AI) services
• Banks are employing AI skills to detect and prevent frauds, chatbots, and algorithmic trading objectives, allowing banking institutions to better their operations and increasing the use of AI services in the BFSI business

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Artificial Intelligence As A Service Market Segmentation

Grand View Research has segmented the global artificial intelligence as a service (AIaaS) market based on technology, service type, organizations size, deployment, vertical, and region:

Artificial Intelligence As A Service Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Machine Learning (ML)
• Computer Vision
• Natural Language Processing (NLP)
• Others

Artificial Intelligence As A Service Type Outlook (Revenue, USD Million, 2017 - 2030)

• Software
  • Data Storage and Archiving
  • Modeler and Processing
  • Cloud and Web-Based Application Programming Interface (APIs)
  • Others
• Services

Artificial Intelligence As A Service Organizations Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

Artificial Intelligence As A Service Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Public
• Private
• Hybrid

Artificial Intelligence As A Service Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Banking, Financial, and Insurance (BFSI)
• Healthcare and Life Sciences
• Retail
• IT & Telecommunication
• Government and defense
• Manufacturing
• Energy & Utility
• Others

Artificial Intelligence As A Service Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East & Africa (MEA)

List of Key Players in the Artificial Intelligence As A Service Market

• Amazon Web Services, Inc.
• Salesforce, Inc.
• International Business Machines Corporation
• Intel Corporation
• Microsoft
• BigML, Inc.
• Google
• SAP SE
• Siemens 
• Fair Isaac Corporation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Smart Bed Market Primed to Hit USD 3.45 Billion by 2030

 Smart Bed Market Growth & Trends

The global smart bed market size is expected to reach USD 3.45 billion by 2030, expanding at a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Technological advancements in sensor-bed solutions offer enhanced sleep thus driving the demand for smart beds. The growing number of smart houses with household items that are technologically integrated will continue to fuel market expansion.

Rising townships, smart cities, commercial buildings, and settlement development projects are attracting investors in the real estate sector, which has risen the quality of residential apartments and is the primary cause of the real estate industry's rapid expansion. Demand for smart beds will continue to increase as housing and commercial development expand, driven by the need to furnish new construction.

In terms of application, the residential segment is projected to have the largest market share in 2022,, supported by rising consumer spending on smart home automation and the expansion of the Internet of Things (IoT) throughout the residential infrastructure. People who suffer from recurring sleep issues can keep an eye on their sleeping habits by connecting their smart beds to other smart devices. This will increase household demand for smart products.

Regionally, North America led the industry share in the year 2021 owing to high purchasing power among people who are willing to spend on comfort and luxury items. Home renovation activities, including outdoor, bedroom, home furnishings, kitchens, and technology, witnessed a 15% growth with about USD 85,000 in 2020, according to a Houzz & Home survey of 70,000 Americans.

Noticing the growth potential of smart bed business, many new market participants have emerged over the years. Technology leaders in the business are introducing innovative embedded systems and wireless telecommunications technology. For instance, Hi-Interiors debuted a new iteration of the Hi-Bed in August 2019. The mattress included advanced technology that can track a user's body weight and sleep patterns. It also came with a retractable 70-inch screen, built-in hi-fi sound systems, a 4K projector that can be used with a Bluetooth device, and additional features that can be added to meet the needs of the buyer.

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Smart Bed Market Report Highlights

• Smart bed is expected to witness substantial growth over the forecast period with a CAGR of 7.0% from 2022 to 2030. Construction of homes, hotels, restaurants, and airports is booming, driving the need for comfortable beds and mattresses. This has created a robust growth potential for market players
• The residential segment was valued at USD 1,656.2 million in 2021 and is expected to reach USD 3,011.4 million by 2030. The residential segment's expansion of the market is primarily driven by the trend toward fashionable, modular home furnishings
• The specialty stores segment is expected to witness substantial growth over the forecast period with a CAGR of 7.0% from 2022 to 2030. The expansion of specialty stores is attributed to the ability to choose and compare products and the rise in affluent populations in emerging countries in North America and Europe
• Asia Pacific region is expected to witness substantial growth over the forecast period with a CAGR of 3.2% from 2023 to 2030. Given the increase in purchasing power in China, India, and Japan, as well as the rapidly urbanizing towns and cities and the fast adoption of smartphone use and internet services

Access Press Release@ https://www.grandviewresearch.com/press-release/global-smart-bed-market

Smart Bed Market Segmentation

Grand View Research has segmented the global smart bed market based on application, sales channel, distribution channel, and region:

Smart Bed Application Outlook (Revenue, USD Million, 2017 - 2030)

• Residential
• Hospital
• Hospitality
• Others

Smart Bed Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Supermarket/Hypermarket
• Specialty Stores
• Online
• Others

Smart Bed Sales Channel Outlook (Revenue, USD Million, 2017 - 2030)

• B2C
• B2B

Smart Bed Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Hong Kong
• Central & South America
  • Brazil
• Middle East & Africa
  • United Arab Emirates

List of Key Players in Smart Bed Market

• PARAMOUNT BED CO., LTD.
• Arjo AB
• Sleep Number Corporation
• Ascion, LLC.
• LINET spol. s r.o.
• Hi-Interiors srl
• Stryker Corporation
• The BodiTrak
• Hill Rom Holdings Inc.
• Invacare Corporation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Electric Breast Pumps Market is Anticipated to Upgrade USD 2.68 Billion Revenue By 2030: Grand View Research Inc.

 Electric Breast Pumps Market Growth & Trends

The global electric breast pumps market size is expected to reach USD 2.68 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 8.91% from 2023 to 2030. The main factors influencing the industry are the development of healthcare infrastructure in developing nations, rising employment rates for women worldwide, and the presence of favorable demographics.

The women’s employment rate has been increasing globally. For instance, according to European Commission, in 2018, the women’s employment rate in Europe was around 67%, which increased by 1% from 2017 to 2018, whereas, the same increased by five percentage-point from 2008-2018. The increase in women’s employability is expected to increase the use of electric breast pumps, thereby propelling the market growth over the forecast period.

Additionally, a surge in the number of births worldwide is further anticipated to help the electric breast pump market impel. According to reports by CDC, the birth rate rose first time in the past 7 years in 2021. Moreover, the fertility rate was calculated to be 56.6 births per 1,000 women, which was up by around 1% in 2021, from 2020. An increase in fertility rate is expected to increase the number of births, thereby increasing demand for electric breast pumps, in the forthcoming years.

Moreover, the electric breast pumps market has seen significant growth over the last few decades, owing to increasing product launches by key players, and rising R&D activities. For instance, in November 2020, Spectra Baby USA launched a new electric breast pump ‘the Synergy Gold dual-powered electric breast pump’. It offers breastfeeding mothers cutting-edge technology that enables personalized pumping sessions. Moms that are used to single-pumping and alternating sides may easily double-pump thanks to the new design, which uses one separate motor for each side and is independently adjustable. Such innovations are expected to increase the use of electric breast pumps over the forecast duration.

Request a free sample copy or view the report summary: Electric Breast Pumps Market Report

Electric Breast Pumps Market Report Highlights

• In terms of type, the double electric breast pumps segment held the largest market share of 61.52% in 2022 and is expected to witness the fastest growth over the forecast period due to its several benefits and high adoption, as compared to single electric breast pumps
• In terms of application, the hospital grade segment held the largest market share in 2022, owing to the increasing number of hospitals and rising healthcare expenditure
• Hospital pharmacy dominated the distribution channel segment with a market share of 38.49% due to the rising number of births in hospital settings. However, the e-commerce segment is anticipated to witness the fastest growth rate in this segment
• North America is expected to dominate the electric breast pump market growth over the forecast period owing to the rising women’s employment and the significant presence of key players operating in the market

Access Press Release@ https://www.grandviewresearch.com/press-release/global-electric-breast-pumps-market

Electric Breast Pumps Market Segmentation

Grand View Research has segmented the global electric breast pump market based on type, application, distribution channel, and region:

Electric Breast Pumps Type Outlook (Revenue, USD Million, 2018 - 2030)

• Single
• Double

Electric Breast Pumps Application Outlook (Revenue, USD Million, 2018 - 2030)

• Personal Use
• Hospital Grade

Electric Breast Pumps Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacy
• Retail Store
• E-commerce
• Wholesaler/Distributor
• Direct Purchase

Electric Breast Pumps Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in Electric Breast Pumps Market

• Medela AG
• Koninklijke Philips N.V.
• Ameda AG
• Hygeia Health
• Lansinoh Laboratories, Inc.
• Spectra Baby USA
• Pigeon Corporation
• Evenflo
• Willow
• Ardo
• Motif Medical
• Elvie

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Digital Health Market Trends Analysis And Forecast Till 2030: Grand View Research Inc.

 Digital Health Market Growth & Trends

The global digital health market size is expected to reach USD 809.2 billion by 2030. According to a new report by Grand View Research, Inc, it is expected to expand at a CAGR of 18.6% during the forecast period. Rising smartphone adoption, improved internet connectivity with the launching of 4G/5G, advancement in healthcare IT infrastructure, rising healthcare costs, the rising penetration rate of chronic diseases, increasing adoption rate of remote patient monitoring services, and rising accessibility of virtual care are some of the major factors that fuel the industry growth. Furthermore, key players are focusing on introducing advanced applications to track daily activities, get information about medical queries, connect to physicians and store their health information. Tech giants like Apple, Google, and IBM are working to improve user experience by launching numerous subscription plans and improving data security features.

At present, telehealth and telemedicine services are receiving recognition from the healthcare industry and government bodies. Governments across the globe are introducing new initiatives to promote digital health. For instance, during the 2022 budget session, the Government of India introduced a digital health ecosystem under Ayushman Bharat Digital Health Mission (ABDM). The government invested more than 3.5 million in this program in order to advance the digital healthcare infrastructure.

The growing penetration rate of chronic diseases such as CVD, cancer, diabetes, and others further fuels the market growth as chronic conditions require continuous monitoring and digital health platforms help in monitoring chronic conditions from any place and at any time. Furthermore, COVID-19 impacted the market positively as a large percentage of the patient population opted for telemedicine and telehealth solutions due to infection risks and lockdown scenarios. 

In 2022, telehealthcare dominated the market with a revenue share of 41.5%. The market growth can be attributed to the rising penetration of smartphones, and improvement in internet connectivity. Advancements in the healthcare IT infrastructure and the launching of new platforms and solutions further fuelled the segment’s growth. 

In 2022, North America dominated the industry with a revenue share of 44.3%. North America is one of the very first regions to adopt smart healthcare solutions, including various technologies such as mobile apps, smart wearables, and eHealth services, like EHR & telemedicine services, for remote access to information on serious & chronic healthcare conditions. Factors such as rapid growth in the adoption of smartphones, advancements in coverage networks, rise in the prevalence of chronic diseases, increase in geriatric population, rise in costs of health care, acute shortage of primary caregivers, and increase in need for improved prevention & management of chronic conditions are responsible for the growth of digital health services in the region. 

Request a free sample copy or view report summary: Digital Health Market Report

Digital Health Market Report Highlights

• The global digital health market size is anticipated to be valued at USD 809.2 billion by 2030 due to the growing penetration of smartphones, improvement in internet connectivity, and advancement in healthcare infrastructure
• The telehealthcare segment dominated the market with a revenue share of 41.5% in 2022, owing to an increasing prevalence rate of chronic conditions and constant advancement in telehealth applications
• The services segment dominated the market with a revenue share of 45.4% in 2022. Growing demand for installation, maintenance, training, and other services drives the market growth. However, the software segment is projected to grow with the fastest CAGR value over the forecast period
• North America accounted for a high revenue share of 44.3% in 2022. However, Asia Pacific is estimated to exhibit the fastest CAGR value of 21.8% during the forecast period. Growing investment in healthcare infrastructure, an increasing number of start-ups, and increasing penetration of smartphones and internet connectivity are projected to fuel the market growth

Access Press Release@ https://www.grandviewresearch.com/press-release/global-digital-health-market

Digital Health Market Segmentation

Grand View Research has segmented the digital health market based on technology, component, and region:

Digital Health Technology Outlook (Revenue, USD Million, 2016 - 2030)

• Tele-healthcare
  • Tele-care
    • Activity Monitoring
    • Remote Medication Management
  • Telehealth
    • LTC Monitoring
    • Video Consultation
  • mHealth
    • Wearables
      • BP Monitors
      • Glucose Meters
      • Pulse Oximeters
      • Sleep Apnea Monitors
      • Neurological Monitors
      • Activity Trackers/ Actigraphs
    • mHealth Apps
      • Medical Apps
      • Fitness Apps
    • Services
      • mHealth Service, By Type
        • Monitoring Services
          • Independent Aging Solutions
          • Chronic Disease Management & Post-Acute Care Services
        • Diagnosis Services
        • Healthcare Systems Strengthening Services
        • Others
      • mHealth Services, By Participants
        • Mobile Operators
        • Device Vendors
        • Content Players
        • Healthcare Providers
      • Healthcare Analytics
      • Digital Health Systems
        • EHR
        • E-Prescribing Systems

Digital Health Component Outlook (Revenue, USD Million, 2016 - 2030)

• Software
• Hardware
• Services

Digital Health Component Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE 

List of Key Players of the Digital Health Market

• Cerner Corporation (Oracle)
• Allscripts
• Apple, Inc.
• Telefónica S.A.
• Mckesson Corporation
• Epic Systems Corporation
• QSI Management, LLC
• AT&T
• Vodafone Group
• AirStrip Technologies
• Google, Inc.
• Samsung Electronics Co., Ltd.
• HiMS
• Orange
• Qualcomm Technologies, Inc.
• Softserve
• MQure
• Computer Programs and Systems, Inc.
• Vocera Communications
• IBM Corporation
• CISCO Systems, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.