Rising demand of automotives, Positive Outlook for E-Vehicles, and Potential for Fintech Growth will drive Philippines Auto Finance Market: Ken Research

 Growing Digital Advancements: The Industry is increasingly moving towards newer technology such as Artificial Intelligence and Machine Learning to improve its efficiency. The Insurance Commission continues to push for digitalization and further innovation by promoting better customer service. For instance, Fintech PH aims to position the Philippines as a hub for technological innovation in financial services through the partnership with the technology associations in China, Denmark, Israel, Japan, Malaysia, Singapore, and Thailand. In the past, 5 – 10 years, Philippines is witnessing a new wave of digital enhancements with several new fin-tech platforms for aggregation, peer – to – peer lending and more coming in the market. Some of the most well-known of these start- ups are- Moneymax, Seekcop, Justpay.to, pesopay etc.

Constant growth in automobile industry: Despite supply constraints, the auto industry seems to be growing at a high rate. The rise in private car service financing is driving the Philippines automotive financing market. For instance, it is the fourth largest automotive market in South East Asia increased by double digit in May 2022.

Increasing Private Hire Car Service, a large number of people in Philippines are now preferring private Hire Cars leading to potential increase in their financing in future.

Green Car Loans or Electric Vehicles is an emerging segment in Philippines leading way for green loans in the country.

Green Vehicle Policy: The Philippine electric vehicle (e-vehicle) industry aims to have a nation where the use of electric vehicles is highly promoted, encouraged, and supported by its government and society in order to develop a transportation landscape that is one with the environment, ecologically and economically.

The EV Act seeks to develop the Philippine electric vehicle (EV) industry and create a Comprehensive Roadmap for the EV Industry (CREVI). The law covers the manufacture, assembly, construction, import, trade and regulation of EVs, related equipment and their charging stations, and the tax incentives accompanying these projects.

Financial Support Provision: Auto Finance Companies and Dealerships are also expected to further increase their financing and contracting options making them more flexible to support retail Sales. It is expected that NBFC and Captive companies will start picking up more pace than Commercial Banks in Philippines Auto finance Industry

Analysts at Ken Research in their latest publication “Philippines Auto Finance Market Outlook to 2026- Driven by change in consumer spending, ease in provision of loans, improving technology and government support” by Ken Research observed that Auto Finance Market is an emergent market in Philippines at a growing stage even during the pandemic as well. The rising demand for automobiles, Positive Outlook for E-Vehicles, and growing digital advancement like Artificial Intelligence and Machine Learning, are expected to contribute to the market growth over the forecast period. The Philippines Auto Finance Market is expected to see high growth rate over the forecasted period 2021-2026F.

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Key Segments Covered:-

Philippines Auto Finance Market

By Category of Lenders (By Credit dispersed), 2021 & 2026F

Universal and Commercial Banks

Thrift Banks

NBFCs

Captives

By Type Of Vehicles (By Credit dispersed), 2021 & 2026F

Two and Three Wheelers

Four Wheelers

Buses and Trucks

By Type of Ownership (By Credit dispersed), 2021 & 2026F

Used Cars

New Cars

By Category of Vehicles (By Credit dispersed), 2021 & 2026F

Passenger Vehicles

Commercial Vehicles

By Loan Tenure (By Credit dispersed), 2021 & 2026F

12 – 24 Months

25 – 48 Months

By Geographical Location (By Credit dispersed), 2021 & 2026F

Region I

Region II

Region III

Region IV – A

Region IV – B

Region V

Region VI

Region VII

Region VIII

Region IX

Region X

Region XI

Region XII

NCR

A.R

CARAGA

Key Target Audience

Banks and its Subsidiaries

NBFCs

Captive Finance Companies

Government and Institutions

Automobile Companies

Car Dealers

Government and Institutions

Existing Auto Finance Companies

OEM Dealerships

New Market Entrants

Investors

Auto mobile Associations

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Time Period Captured in the Report:-

Historical Period: 2016-2020

Base Year: 2021

Forecast Period: 2022– 2026F

Companies Covered:-

Asialink Finance Corporation

Yulon Finance Philippines Corporation

Security Bank

MetroBank

Welcome Bank

Toyota Financial Services Philippines Corporation (TFSPH)

Bank of Philippines Island

BDO Unibank

Malayan Insurance

Philippine Depository and Trust Corporation

LBP leasing and Financing Corporation

Robinsons Bank

The Philippine Bank of Communications (PBCOM)

Land Bank of Philippines

Asia United Bank

Development Bank of Philippines

Union Bank

Sterling Bank of Philippines

Penbank and more

For more insights on the market intelligence, refer to the link below:-

Philippines Auto Finance Market

Related Reports By Ken Research:-

KSA Auto Finance Market Outlook to 2026F

Singapore Auto Finance Market Outlook to 2025 (Edition II)

Thailand Auto Finance Market Outlook to 2024

Malaysia Online Insurance Industry is expected to grow by Increase in Internet Penetration, Government support Along with Low Cost of Infrastructure: Ken Research

 Malaysians are embracing digital channels for their insurance needs. The market is currently in growth stage, with increasing adoption driven by a wide network of agents, insurance aggregators, financial advisors and online websites. Malaysia Online Insurance market ecosystem constitutes of entities such as Insurance Companies (Offline & Online), Online Aggregators, and two regulatory bodies.

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Key Market Findings:

• During Covid pandemic, there has been a significant increase in online insurance users due to peoples’ preference for avoiding physical contact and demand for health insurance
• Government has provided support towards the online insurance industry by creating multiple agencies and regulatory bodies overseeing and assisting the operations of insurance players
• Mining social media data improves risk assessment for insurers, bolstering fraud detection capabilities, and new customer experiences.

Government Participation: Bank Negara Malaysia (BNM) is preparing a regulatory framework for digital insurers and digital takaful operators, to be finalized in 2022. The proposed framework aims to attract new digital players with innovative solutions to tackle protection gaps. Growing implementation of Life Insurance and Family Takaful by several government bodies across Malaysia is primarily driving the market for takaful insurance. Moreover, the wide presence of the Muslim population in the country is catalyzing the market growth.

Pandemic Growth: Due to COVID-19 lockdown restrictions & global automobile chip shortage, the Motor insurance segment is expected to grow by 1.9% in 2022, driven by an increase in vehicle sales. Telehealth services gained during pandemic. Restrictive measures amid pandemic motivated insurers to launch usage-based insurance policies to financially aid customer. They have launched digital solutions to safeguard customers.

Building Product Portfolio: Aggregator model is developing and is expected to increase in future due to easy comparisons and discounts. More than 80% of Malaysian consumers are willing to share their financial, health and other personal data to gain access to the additional value added services. Signaling consumers’ trust in their insurance providers, thereby opening the door for these insurers to build a stronger relationship with consumers. The digital channel of distribution for insurance solutions in the country gained traction due to the restrictive measures imposed in the country during pandemic.

The report titled “Malaysia Online Insurance Market Outlook to 2026F: Driven by a growth in demand for insurance at greater convenience and lesser cost in the country” by Ken Research suggested that the Malaysia Online Insurance  market is expected to grow significantly owing to increased government focus, technological developments, development of Aggregators and increased convenience. The market is expected to register a positive five year CAGR in terms of gross direct premium during the forecast period 2021-2026F.

Key Segments Covered in Malaysia Online Insurance Industry

Malaysia Online Insurance Market

By Product type of Insurance basis Gross Premium

• Life Insurance
• Family Takaful
• General Takaful
• General Insurance

By Product type of General Insurance basis Gross Premium

• Motor Insuranc
• Medical & Health
• Employer’s liability
• Personal accident

By Type of Entity basis Gross Premium

• Captive Players
• Aggregator Players
• Financial Advisors

By Region basis Gross Premium

• Penang
• Johar
• Klang Valley & Selangor

Key Target Audience

• Insurance players
• Online Insurance Captive players
• Online Insurance Aggregators players
• Insurance Technology provider
• Insurance users
• New Entrant in Online Insurance space
• Associated or affiliated Banks with Insurance entities
• Regulatory Bodies for Insurance entities

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Time Period Captured in the Report:

• Historical Period: 2016-2021
• Forecast Period: 2022-2026F

Companies Covered:

Online Insurane Aggregators

• Policy Street
• Bjak
• Qoala

Online Insurance Captive Players

• Liberty Insurance
• Axa Affin Insurance
• eTiQa Insurance
• AIA Malaysia
• Takaful Ikhlas
• Tune Insurance
• Zurich Insurance
• Chubb Insurance
• Allanz Malaysia Berhad
• FWD Takaful

For more insights on the market intelligence, refer to the link below:-

Malaysia Online Insurance Market

Related Reports By Ken Research:-

Singapore Online Insurance Market Outlook to 2026

Thailand Online Insurance Market Outlook to 2027F

UAE Online Insurance Industry Outlook to 2024

Global Mental Wellness Industry is growing at a CAGR of ~6% during 2022-2028: Ken Research

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Global Mental Wellness Market by Age Group

The Global Mental Wellness market is segmented by Age group into Adult, Geriatric and Teenager. The adult segment accounted for the highest market share in 202 owing to the adult’s experience in multiple phases of development from early adulthood to late adulthood, such as obtaining personal and financial independence, success, recognition, and security.

Extreme fear or worry, feelings of deep sadness or emotional numbness, abrupt mood changes, staying away from friends and social situations, changes in eating habits, substance abuse, trouble concentrating, changes in sleeping habits, and suicidal ideation are all symptoms of mental trauma in young adults.

Global Mental Wellness Market by Service

The Global Mental Wellness market is segmented by Service into Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services and Others. The Inpatient Hospital Treatment Services segment accounted for the highest market share in 2022 due to a growth in the prevalence of mental illnesses, a larger patient population, and a large number of patients using mental health interventions to improve self-care.

The prevalence of mental disorders is rising, there are more patients, and many patients are employing mental health interventions to improve self-care, which is fueling the segment's revenue growth.

Global Mental Wellness Market by Geography

The Global Mental Wellness market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounted for the largest market share among all regions in 2022, owing to the presence of major Mental Wellness therapies and treatment organizations like Acadia Healthcare, Behavioral Health Network, Inc., CVS Health, and many more.

As more individuals are adopting cutting-edge technologies and because both healthcare experts and those working in the corporate sector in a developed country like USA are becoming more conscious of the importance of mental health. The region's mental wellness market is growing as a result of the development of activities in the area, including a sharper focus on creating innovative services and the presence of key companies. Additionally, as a result of the rise in smartphone and tablet usage, people are stepping up the attempts to improve overall mental health.

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Key Topics Covered in the Report: –

Snapshot of Mental Wellness Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of the Mental Wellness Market

Historic Growth of the Overall Mental Wellness Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter’s 5 Forces Analysis of the Mental Wellness Market Industry

Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors

COVID-19 Impact on the Overall Mental Wellness Market

Future Market Forecast and Growth Rates of the Total Mental Wellness Market and by Segments

Market Size of Segments with Historical CAGR and Future Forecasts

Analysis of the Mental Wellness Market in Global Regions

Major Mental Wellness Type/Supply and Consumption/Demand Hubs in the Region

Region-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Competitor Companies within the Region

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Notable Key Players Mentioned in the Report

Acadia Healthcare

Amare Global

Ascension

Behavioral Health Network, Inc.

CVS Health

CareTech

Headspace Inc.

Promises Behavioral Health

Pyramid Healthcare Inc.

Universal Health Services

Notable Emerging Companies Mentioned in the Report

Wysa

MindPeers

Gratitude

YourDOST

Jeeva

Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report

Manufacturers and Suppliers of Brain Health Supplements

Consultants for Brain Health Supplements

Distributors of Supplements for Brain Health

Brain Health Supplements Companies

Mental Wellness Service Providers

Wellness Solutions Companies

Wellness Products Nutritional Supplement Industries

Wellness Product Manufacturers and Raw Material Suppliers

Suppliers of Raw Materials for Nutritional Supplements

Health Supplements Organizations, Forums, Alliances, and Associations

Mental Wellness Research Organizations, and Consulting Companies

Health Regulatory Organizations and Government Agencies

Government Ministries and Departments of Healthcare

PE and VC Firms focused on Wellness Industry

Startups and Potential Entrants into Wellness Industry

Time Period Captured in the Report:-

Historical Period: 2017-2021

Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: –

Global Mental Wellness Service Market

Global Mental Wellness Market is expected to reach a market size of ~US$ 150 billion by 2028: Ken Research

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What is the Size of Global Mental Wellness Industry?

Global Mental Wellness market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Mental Wellness Market is largely driven by increasing prevalence of mental illnesses/disorders, such as depression, anxiety, eating disorders, and others, as a result of busy lifestyles, poor diets, a lack of physical activity, and excessive work hours. The mental wellness market will develop as a result of more government initiatives and rules supporting mental health, more social media influence, and growing public awareness of the value of mental health.

With bringing about a new era of specialized education and solutions that cater to each individualized well-being through AI, mental wellness has undergone a major shift. Without using a lot of resources, using AI helps increase people's well-being. It can also aid in avoiding several health obstacles by inciting behavioral change after studying personality traits and behaviors.

Furthermore, the COVID-19 pandemic and strict regulations imposed by various governments have affected people's pre-existing mental health symptoms and led to relapses everywhere, which is boosting the market's growth along with the rising demand for hospital services brought on by the rising number of patients who require mental health solutions to improve self-care.

Global Mental Wellness Market by disorder

The Global Mental Wellness market is segmented by Disorder into Depression, Anxiety, Schizophrenia, Substance Use Disorder, Bipolar Disorder, Alcohol Use Disorder, Post-Traumatic Stress Disorder, Eating Disorder and Others.

The Depression segment dominated the market in 2022 since depression is a key factor in the overall global burden of disease and a primary cause of disability worldwide. According to the World Health Organization (WHO) in September 2021 that an estimated 280 million individuals around the world suffer from depression, which affects 3.8% of the population overall, including 5.0% of adults and 5.7% of those over the age of 60.

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Global Mental Wellness Market by type

The Global Mental Wellness Market is segmented by Type into Senses Spaces & Sleep, Brain Boosting Nutraceuticals & Botanicals, Self-Improvement and Meditation and Mindfulness. The Senses Spaces & Sleep segment accounted for the highest market share in 2022 as it includes services, items, and designs that emphasize the senses and the mind-body link, raising awareness of how strongly environmental stimuli affect a person's stress levels, mood, and sleep. The vast majority of sleep- and sleep-environment-optimizing solutions are focused on improving sleep, including accessories, smart beds, wearables, monitors, apps, sleep retreats, and nap cafés.

Key Topics Covered in the Report: –

Snapshot of Mental Wellness Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of the Mental Wellness Market

Historic Growth of the Overall Mental Wellness Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter’s 5 Forces Analysis of the Mental Wellness Market Industry

Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors

COVID-19 Impact on the Overall Mental Wellness Market

Future Market Forecast and Growth Rates of the Total Mental Wellness Market and by Segments

Market Size of Segments with Historical CAGR and Future Forecasts

Analysis of the Mental Wellness Market in Global Regions

Major Mental Wellness Type/Supply and Consumption/Demand Hubs in the Region

Region-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Competitor Companies within the Region

Request For Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MTU2

Notable Key Players Mentioned in the Report

Acadia Healthcare

Amare Global

Ascension

Behavioral Health Network, Inc.

CVS Health

CareTech

Headspace Inc.

Promises Behavioral Health

Pyramid Healthcare Inc.

Universal Health Services

Notable Emerging Companies Mentioned in the Report

Wysa

MindPeers

Gratitude

YourDOST

Jeeva

Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report

Manufacturers and Suppliers of Brain Health Supplements

Consultants for Brain Health Supplements

Distributors of Supplements for Brain Health

Brain Health Supplements Companies

Mental Wellness Service Providers

Wellness Solutions Companies

Wellness Products Nutritional Supplement Industries

Wellness Product Manufacturers and Raw Material Suppliers

Suppliers of Raw Materials for Nutritional Supplements

Health Supplements Organizations, Forums, Alliances, and Associations

Mental Wellness Research Organizations, and Consulting Companies

Health Regulatory Organizations and Government Agencies

Government Ministries and Departments of Healthcare

PE and VC Firms focused on Wellness Industry

Startups and Potential Entrants into Wellness Industry

Time Period Captured in the Report:-

Historical Period: 2017-2021

Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: –

Global Mental Wellness Service Market

Rising demand of personal vehicles with increasing population and future expansion strategies of market players to drive the Lubricants Market in Philippines: Ken Research

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Philippines Lubricants Market Ecosystem

The Philippines lubricants market is fragmented with too many lubricant manufacturers operating in the industry. Petron and Shell are the dominant players in Philippines lubricants market.

Key Findings

• Construction industry added major contribution (9.8%) to the overall GDP in Philippines in 2021. The average volume of production for the manufacturing sector in the Philippines was 81.5% in 2021 compared to 54.2% in 2020.
• In 2021, the total volume of motorcycles and scooters sold in the Philippines reached ~1.4 Mn units reflecting an increase of 19.1% sales in comparison to total sales volume of 1.21 Mn in 2020.
• Motor Vehicles sales in Philippines increased by 20.0% in 2021 with sales volume of 268,488 units in comparison to 223,793 units in 2020. Commercial vehicles registered higher sales volume with 183,228 units.

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Increasing Population and Rise in the Disposable Personal Income: Growing middle-class incomes, higher percentage of millennial population and the subsequent increasing demands of two-wheelers and four-wheelers is increasing the production and sales of new vehicles will fuel more to the lubricants demand in the Philippines in upcoming years.

Expansion Strategies of Market Players in future: Petron Corporation Philippines announced completion of the constructing power plant having capacity of 184 MW by 2022 end that will cater to the power requirements of its Bataan refinery. Filipinas Shell Corporation Philippines plans to open 60 to 80 mobility sites per year. Other market players are also planning to expand customer reach by investing actively in growing number of service stations providing products and maintain extensive dealership network.

Future of Philippines Lubricants Market: Philippines Lubricants Market is expected to grow at a double digit positive CAGR of 14.4% during 2021-2026F. Owing to the booming energy sector of the Philippines, the country is anticipated to witness an increase in crude oil imports to meet the growing demand various industries under both the Industrial and Automotive sectors over the long term. Dealers Network are expected to expand their business via online and in-shop channels to offer both local and branded lubricants in distinguished quantities demanded by the customers.

The report titled “Philippines Lubricants Market Outlook to 2026F– Driven by Growth in Crude Oil Import and Rising Sales of Commercial Vehicles in the Country” by Ken Research provides a comprehensive analysis of the potential of Lubricants in Philippines. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by type, by grade, by end use, by distribution; growth enablers and drivers, trends and developments challenges and bottlenecks; regulatory framework; end user analysis; competitive landscape including competition scenario, market shares of major players on the basis of revenue generated. The report concludes with future market projections of each product segmentation and analyst recommendations.

Key Segments Covered: -

Philippines Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts): 

• Industrial Lubricant
• Automotive Lubricant

By Grade, on the Basis of Sales Volume (Mn Lts):

• Mineral
• Semi-Syntenic
• Synthetic

Philippines Industrial Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts):  

• Hydraulic Fluid
• Grease
• Gear Oil
• Metalworking Fluid
• Others (Turbine Oil, Compressor Oil, etc.)

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By End Use, on the Basis of Sales Volume (Mn Lts): 

• Construction and Mining
• General Manufacturing
• Metal Production
• Power Generation
• Food Processing
• Others (Agriculture, Medical, etc.)

By Distribution Channel, on the Basis of Sales Volume (Mn Lts): 

• Dealer Network
• Direct Sales

Philippines Automotive Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts): 

• Heavy-Duty Diesel Engine Oil
• Passenger Vehicle Motor Oil
• Transmission Fluids
• Hydraulic Oil
• Greases
• Gear Oils

By End Use, on the Basis of Sales Volume (Mn Lts): 

• Commercial Vehicles
• Passenger Cars
• Motor Cycles
• Marine
• Others (Aviation, Railways, etc.)

By Distribution Channel, on the Basis of Sales Volume (Mn Lts): 

• Dealer Network
• OEM Workshops/Service stations/Local Workshops
• Supermarkets/ Hypermarkets
• Online

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Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• Metal Production Industry
• Power Generation Industry
• Food Processing Industry
• Agriculture Industry
• Medical Industry
• Automotive OEMs
• Automotive Dealerships
• Government Agencies
• Consulting and Advisory Firms

Time Period Captured in the Report:

• Historical Period: 2016-2021
• Forecast Period: 2021-2026F

Companies Covered:

Lubricants Manufacturers

• Petron Corporation
• Pilipinas Shell Petroleum Corporation
• Caltex (Chevron Philppines)
• Phoenix Petroleum Philippines, Inc.
• SEAOIL Philippines Inc.
• Unioil Petroleum Philippines Inc.
• Liquigaz Philippines Corporation
• Castrol Philippines Inc.
• Total Energies Philippines

Key Topics Covered in the Report

• Philippines Lubricants Market Overview
• Ecosystem of Philippines Lubricants Market
• Business Cycle and Genesis of Philippines Lubricants Market
• Value Chain Analysis for Philippines Lubricants Market
• Growth Enablers in Philippines Lubricants Market
• Bottlenecks and Challenges in Philippines Lubricants Market
• Philippines Lubricants Market Regulations
• End User Analysis of Philippines Lubricants Market
• Vendor Evaluation and Selection Process in Philippines Lubricants Market
• Covid-19 Impact on Philippines Lubricants Market
• Competitive Landscape in Philippines Lubricants Market
• Product Portfolio of Major Players Philippines Automotive Lubricants Market
• Market Opportunity and Analyst Recommendations

For more insights on market intelligence, refer to the link below: -

Future Outlook of Lubricants Market in Philippines

Related Reports by Ken Research: -

Malaysia Automotive Lubricant Market Outlook To 2025

Brazil Lubricants Market Outlook To 2025

Vietnam Lubricants Market Outlook To 2023

Around 80% of the BNPL Market revenue in UAE was generated by Online mode of payment fueled by the Covid-19 pandemic: Ken Research

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1.  The Covid-19 pandemic is a driving force in exhilarating and paving the way for newer companies to enter the BNPL space in the country, in addition to external investments made in the industry

In recent years, the UAE has seen a significant increase in digital transactions Because of the rise of e-commerce in the region, inter-governmental partnerships are being formed in order to make the UAE a digital hub. This is one of the major factors contributing to the rise of digital credit lending in the country, such as that of BNPL. Government support is also playing a significant role in the UAE's surging digital penetration. Additionally, BNPL players in the UAE have only just entered the market and have cumulatively received approximately $40 million+ in funding which is likely to boost the BNPL services in the country.

2.  Buy Now Pay Later industry in UAE has gained significant traction growing at a CAGR of ~92% in between 2019 and 2022

The Buy Now Pay Later industry in the UAE generated multi-million dollars in revenue in 2022, growing at a CAGR of 92% between 2019 and 2022. The UAE BNPL market boomed during the COVID-19 pandemic because a large portion of the residents lost their jobs during this period and was surviving on their savings, which pushed for the need for an extra credit line, which BNPL services catered to. In 2022, the 30-40 age group was having the largest market share for BNPL services in the country. This is due to the growing working-age population, which is gradually shifting away from credit cards and toward BNPL as a mode of payment.

3.  With an increasing consumer base and expanding partnerships with merchants and retailers, the country's BNPL players have seen a boom in a short period of time

The Middle East region has seen an increase in the number of companies offering BNPL solutions in just one year. They are making a name for themselves by adding value to merchants and providing simple financial products to customers. With so much going on at BNPL, its user base is making significant strides as well. With the decreasing impact of Covid-19, we are also seeing the return of offline shopping mode. The BNPL players will not pass up this opportunity. They have already begun collaborating with leading retailers to offer BNPL as a point-of-sale financing tool in physical stores at checkout points.

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4.  Credit recovery, combined with customer overspending, is posing a significant challenge to the expansion of the BNPL market in the UAE

BNPL service providers face the risk of being unable to recover loan amounts that customers fail to pay on time. Although there is a carry forward charge attached to late amounts, it may continue to accumulate on the consumers' part. Regulators are concerned about the rising indebtedness and risk to consumers as the BNPL market expands rapidly. Moreover, unwise purchases are becoming more common as a result of unsecured credit risk assessment using these methods. The risks associated with the region's competition are also extremely high. Companies in the nascent or growth stage need to figure out multiple revenue streams and different methods of financing such as a card, cashback, and loans or quick financing to survive the competition.

For more insights on the market intelligence, refer to below link:-

UAE Buy Now Pay Later Industry

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The versatile nature and being great substitutes for helicopters, unmanned flights at a lower cost, the USA Drone market is expected to flourish in upcoming years: Ken Research

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USA Drone Market Ecosystem

USA Drone Market is in the growing stage, the market is majorly consolidated. Domestic and International players coexist in the supply side in the USA Drone Market.

Key Market Findings:

• Prices of drone hardware, software, and services continue to fall as drone companies compete for market share through penetration pricing.
• The share of hybrid drones will increase in the future among both the commercial and the military sector.
• More market players are expected to enter into the drone industry independently or with collaboration to cater rising demand from end users.

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Great Substitutes for Helicopters/Workers: Drones are great substitutes for helicopters, workers etc., where they can get more work done in less amount of time and with reduced costs. They can replace expensive surveillance products for the military while also lowering the risk for pilots since they don't have to be on the aircraft. The potential for the use of drones is really high. Drones are very versatile, and can be used easily within many industries. Just like robots, they can replace basic jobs which require human support.

Widespread Opportunities: Major industries such as Agriculture, Construction and law enforcement will be benefitted from the use of drones. Agricultural fields of thousands of acres can utilize drones to observe the crop growth, to assist with fertilization and monitor the fields. Law enforcement can use drones for surveillance and save many police officers lives. Logistics will lead the way for drones in future as significant chunk of logistic/e-Commerce companies will implement drones for last mile deliveries as they can reduce logistics costs significantly.

Environment Friendly: Medium and heavy-duty trucks are usually used to transport goods; these vehicles are expected to be responsible for a quarter of all greenhouse gas emissions in the United States. Drones have been shown to be much more environmentally friendly than traditional delivery vehicles due to their lower carbon footprint.

Government Spending: US is amongst highest military spenders in the market, around 732 USD Bn in 2019, which is around 38% of the world expenditure. In July of 2020, the U.S. government signed a measure to permit the sale of armed U.S. drones that fly under 800 kilometers per hour, to foreign governments that had been restricted from flying. Defense is also increasing the usage of micro drones such as X2-D, Anafi, M440 Ion, Golden Eagle and more that have a price range of USD 7000-21,000. They can be deployed to gain a bird’s eye view of the battlefield or to autonomously navigate a building to clear rooms before troops enter.

Analysts at Ken Research in their latest publication “USA Drone Market Outlook to 2027F- Driven by increasing demand of Military drones and commercial drones in End user industries such as Construction, Logistics and more” by Ken Research observed that USA Drone Market is in the growing phase. Enhancing Service Offerings, collaborations with partners, expand pipeline with predictive analysis and getting in front of prospects through AI are some of the factors that will contributed to the USA Drone market growth over the period of 2021-2027F. It is expected that USA Drone Market will grow at a CAGR of 11.7% for the above forecasted period.

Key Segments Covered in the report: -

USA Drone Market by Revenues and Number of drones, 2017-2027

By Type of Drones by Number of Drones, 2022 and 2027

• Hybrid Drones
• Fixed Wing Drones
• Rotary Blade Drones

By Region by Revenue, 2022 and 2027

• West
• South East
• South West
• North East
• Midwest

By Commercial End Users by Number of Drones, 2022 and 2027

• Construction and Inspection
• Media
• Agriculture
• Oil and Gas
• Others
• Logistics
• Mining

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By Weight by Number of Drones, 2022

• 25 kgs-150 kgs and more
• 2 kgs-25 kgs
• <2 kgs

By Mode of Operations by Number of Drones, 2022 and 2027

• Remotely Operated
• Fully Automated
• Semi-Automated

Key Target Audience

• Investors
• Technology and IT Companies
• Government and Institutions
• Aeronautical Companies
• Farming Associations
• Existing Drone Companies
• Venture Capitalist
• New Market Entrants
• Military Agencies

Time Period Captured in the Report:

• Historical Period: 2017-2021
• Base Period: 2022
• Forecast Period: 2023-2027F

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Companies Covered:

• Textron
• General atomics
• AeroVironment
• Northop Grumman
• Insitu
• Skydio
• Easy Aerial
• Skydio
• General Atomics
• FLIR
• DJI
• Parrot
• Easyariel

Key Topics Covered in the Report

USA Drone Market Overview

Ecosystem of USA Drone Market

USA Drone Market Evolution and Business Cycle

USA Drone Business Cycle Genisis

Islamic Banking and Car Finance in USA

USA Drone Market by Revenue growth

USA Drone Market Segmentation

SWOT Analysis of USA Drone Industry

Infrastructure Development Overview of USA

Trends and Developments in USA Drone industry

Growth Enablers in USA Drone Industry

Recent Mergers, Acquisitions, Partnerships and Investments in the USA Drone Market Operational Strategies for USA Drone Services Market

Issues and Challenges in USA Drone Industry

Government policies affecting the USA Drone Industry

Government Initiatives for Automotive Industry

Growth Drivers of USA Drone Market

USA Drone Market Competition Overview

Cross Comparison of Major Players in USA Drone Market

Strengths and Weakness of Major Players in USA Drone market

Future Outlook and Market Projections, 2027F

FAA Rules and Regulations for Recreational and Commercial Drone Users in USA

Growth strategies for USA Drone market

For More Information On The Research Reports, Refer To Below Link:-

Future Outlook of USA Drone Market

Related Report by Ken Research: -

Europe Agricultural Drones Market Outlook and Forecast to 2027

eNPS Allow Employers to Measure and Get a Snapshot of Employee Engagement Within Company: Ken Research

 With the speedy advancement of business all across, businessmen seek different ways to develop their employees and results. And with that, employee engagement is often taken as the eventual solution or, in other words, you can say a silver bullet! For all challenges and hurdles that arise in a workplace, employee engagement is supposed to improvise all of them.

Although employee engagement isn’t a magical antidote, it can surely bring massive benefits to any organization. There are employee engagement platforms that generate such an effect on an organization that is beyond a general mindset. At Ken Research, a 360-degree workplace survey will assist the company to understand its employees’ viewpoints on the company’s complete culture with NPS Score and other surveys. Employee satisfaction is incredibly imperative to an organization. Happy employees are loyal and prove to be proficient assets to the organization. They are probably to tell others about the fantastic place they operate, making them company advocates.  

How to Measure eNPS?

Once your employees have answered the NPS survey, they are sorted into one of the following categories:

• 0-6 Detractors: These are actively displeased employees and represent your greatest turnover risk. They are probably to talk badly about you to their friends and acquaintances.
• 7-8 Passives: This group of employees is neither satisfied nor dissatisfied. They may not say negative things about the company to acquaintances and family, but they’re not probably to recommend the company either.
• 8-10 Promoters: This group of Point of Sale are your most satisfied employees and will say positive things about your company and recommend it as a place to function.

Why eNPS is Important?

• Improves Loyalty: Using eNPS can assist you to detect Target Segment Identification. When you ask for feedback and follow up with your satisfied employees, it turns them to be loyal. If you do the same with dissatisfied customers, it may turn them into happy and loyal employees.
• Reduces Customer Churn Rate: Business growth can also be determined by measuring the inflow and outflow of the customer in the business. That’s what customer churn rate assists you do. Churn rate refers to the number of customers who left your company owing to bad experiences or services by employees. These churned customers are a peril to your brand reputation, as they spread negative word of mouth and do negative publicity of your brand and business. So, when you gauge the churn rate of your business consistently it assists you to put control on the churning of your customers.
• Competitive Differentiation: eNPS should be used as a tool for benchmarking against one’s own company rather than benchmarking against other companies. Organizations invest a lot of money and time along with emotional costs in fascinating the potential employees, hiring them and carrying them with adequate training, hence, it becomes a prodigious loss for a company if they are incapable to recollect their top talent.

eNPS which began as a customer satisfaction tool now is a powerful way to measure and enhance the employee engagement. Employees feel valued when their suggestions are heard and their viewpoints turn into actions by the management. It is also a leading indicator to forecast future outcomes and also assists in combating the churn rate.

KSA Cybersecurity Market is Expected to Gain Momentum from the Technological Advancements and Government Initiatives along with Covid Incited surge in Demand: Ken Research

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• Government strict regulations such as ECC and Cybersecurity Framework by SAMA will act as a catalyst for the surging growth of the cybersecurity market in KSA. Shifting to cloud infrastructure as companies look for a hybrid mode of working will assist the growth of the industry.
• Covid 19 has not only forced people to spend time more time online but has also led to the swift evolution of cybersecurity in KSA. Innovative antivirus solutions have become incredibly important to facilitate live streaming and e-learning.
• The recent MoU signed between Saudi NCA and the US Department of Homeland Security is expected to aid the cybersecurity industry focusing on several areas such as sharing cyber threats information between both countries

Strong Government Push: Strict regulations by the government such as ECC and Cybersecurity Framework by SAMA will also act as a catalyst for the surging growth of the cybersecurity market in Saudi Arabia. Coupled with that, the launch of smart city projects such as NEOM will also provide the much-needed push to the sector.

Technological Advancements in Cybersecurity Services: Advancements in encryption technologies, firewalls, MDR, XDR, EDR, digital forensic investigation, and GRC services among others are expected in the coming years. These advancements will lead to a more secure internet network in the Saudi Arabian cyberspace during the forecast period.

Demand for Big Data and 5G Rollout: The cybersecurity market in Saudi Arabia is estimated to expand at a high CAGR in between 2021 and 2026E attributed to increasing demand for big data, a high surging internet penetration rate and roll out of 5G services across the nation. The more connected the nation will become, the more will be the demand for cybersecurity services among users.

The report titled “KSA Cybersecurity Market Outlook to 2026E- Gauging the opportunities for foreign investment in the cybersecurity market” provides a comprehensive analysis of the potential of the Cybersecurity industry in Kingdom of Saudi Arabia. The report covers various aspects including the current cyber threat scenario and major cyberattacks in the country, revenue generated from cybersecurity, its segmentations viz Component, Deployment Type, Region, End User (Medium and Small Enterprises vs Large Enterprises), by Industry, major trends and developments, issues and challenges, government regulations and product analysis. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities.

Key Segments Covered in KSA Cybersecurity Market:

By Component (By Revenue), 2021 and 2026F

• Solutions
• Services

By Deployment Type (By Revenue), 2021 and 2026F

• On-Premise
• Cloud

By Region (By Revenue), 2021 and 2026F

• Northern
• Western
• Eastern
• Central
• Southern

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By User (By Revenue), 2021 and 2026F

• Medium and Small Enterprises
• Large Enterprises

By Industry (By Revenue), 2021 and 2026F

• BFSI
• Government Sector
• IT
• Telecom
• E-Commerce
• Healthcare
• Retail
• Others includes food industry and more

Key Target Audience

• Technology Companies
• Cybersecurity Companies
• Banking and Financial Institutions
• Cybersecurity Service Providers
• Government Agencies
• Cybersecurity Consultants

Time Period Captured in the Report:

• Historical Period: 2016-2021
• Forecast Period: 2021-2026

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Key Companies Covered:

• SITE
• Sirar by STC
• IBM
• Palo Alto Networks
• SBM
• Cipher
• NourNet
• Trusted Partners
• Trend Micro Incorporated
• Hewlett Packard Enterprise
• Norton LifeLock Inc.
• Dell Technologies
• SAT Microsystems

Key Topics Covered in the Report:

• KSA Country Profile and Population Analysis
• Operating Model of Cybersecurity Companies
• KSA Cybersecurity Market Size and Segmentations
• Growth Drivers of KSA Cybersecurity Market
• Porter’s Five Forces Analysis of KSA Cybersecurity Market
• Government Rules and Regulations in KSA Cybersecurity Market
• Government Initiatives in KSA Cybersecurity Market
• Key Trends and Developments in KSA Cybersecurity Market
• Role of Cutting-Edge Technology in Developing Cybersecurity Solutions and Applications in KSA
• Issues and Challenges of KSA Cybersecurity Market
• Demand Side Analysis
• Analyst Recommendations
• Case Studies
• Research Methodology

For more information on the research report, refer to below links:

KSA Cybersecurity Market Outlook to 2026E

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