Every year over 30 Mn College Going Students require skill development to be Job Ready, will India able to solve this problem? : Ken Research

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India Career Skilling industry, which is growing at unprecedented rate as there is a clear expectation mismatch from Employer and Students even after attending higher education.

1. Every year 9.2 Mn students graduate from colleges, majority of them are looking for formal job but only some are able to secure one

• Lack of tie ups / employers hinder job opportunities of tier 2, 3 and 4 colleges with placement Agencies
• Lack of course comprehensiveness / counselling that can guide them on how to perform the job KRAs

Click to Read Full Article: Unemployment Reasons Among Graduates in India

2. Strong Rise in Demand for Online Courses seen from Working Professionals & Graduates.

• Strong Rise in Demand for Online Courses seen from Working Professionals & Graduates is presenting an opportunity for an Ed-tech Platforms.

• Out of 5-6 Mn 0-1 yr. Graduated working professionals, ~ 40% 5 are interested and have taken part-time Specialized Up-skill courses

• 40% new entrants have already invested up to 30K on Career Skilling Courses. 65% of the new entrants are open to paying a premium up to 10% and willing to pay more basis role, industry domain, existing salary and brand equity etc.

• Newly recruited individuals prefer shorter course durations, with ~ 60% choosing up to 3 months

• 46% of the new entrants are aware of career skilling platforms and have already opted for a course wherein Major Platforms included Coursera, Udemy, EdX, Future Learn, UpGrad & Edureka.

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Rising focus towards free learning content to onboard users & introduce them to online learning were the strategies adopted by such players to evolve in the lockdown situation. For example, UpGrad launched a host of free courses under the brand name of Upstart and has recorded 26,000+ enrolments for 350 hours of such courses. Major type of courses chosen by graduates and undergraduates are: Team Management, Business Communication & Leadership. In Tech: Majorly Advanced Level of Data Science, Design and Programming 

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3. COVID-19 accelerated Trend in adoption of Online Learning in India

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Rising focus towards free learning content to onboard users & introduce them to online learning were the strategies adopted by such players to evolve in the lockdown situation. For example, UpGrad launched a host of free courses under the brand name of Upstart and has recorded 26,000+ enrolments for 350 hours of such courses. Major type of courses chosen by graduates and undergraduates are: Team Management, Business Communication & Leadership. In Tech: Majorly Advanced Level of Data Science, Design and Programming

Despite The Pandemic And Increased Lab Fees, Global Dental Services Market Is Set To Cross More Than USD 60 Bn In The Coming Five Years: Ken Research

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Global Dental Services Market which reached a value of more than USD 35 billion in the year 2022. The dental service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research

1. Total Number of Dentists Has Got Doubled Since The Last Decade: With India At The Top.

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As per the dental services industry research- market value of the dental services industry increased at around 5% CAGR, wherein, countries such as India, Japan, U.S., UK, China, and South Korea held significant share in the global market. The continuous surge in consumer's awareness towards dental care has been propelling the demand for dental services market. Owing to this, dental services market is projected to grow at a CAGR of more than 6% over the coming 10 years.

2. Pandemic Impact Was Insignificant: Nearly 60% Of The Dentists Believe Covid-19 Has Not Impacted The Products Or Services They Offer.

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Oral health service provision has not been significantly affected by COVID-19, although access to routine dental care was reduced due to country-specific temporary lockdown periods. While the dental profession has been identified at high-risk, the reported rates of COVID-19 for dental professionals were not significantly different to those reported for the general population in each country. Compared to many other businesses, the impact of COVID-19 on the dental services sector was less severe. In spite of significant setbacks to several businesses, the dental services sector grew strongly in 2019 at an average rate of 5.6%. Dental professionals believe that individuals' increased attention to oral cleanliness during the epidemic may have contributed to the industry's development. Also, people's awareness of their looks has grown, therefore even if the sector experienced some low points at one point or another, it rapidly bounced back.

3. Nearly 50% Of Dentists Reported That Lab Fees Increased More Than 1-10%, Such High Cost For Dental Services To Hamper The Dental Market Growth.

Reimbursements and treatment costs are two significant variables that affect the services provided to patients. Nonetheless, market expansion is considerably constrained, particularly in developing nations, by the high cost of therapy and low reimbursement. More than 40 % of dentists reported staff wages had increased by more than 1-10%. The high-cost causes treatment delays and cancellations, which somewhat lowers the adoption of consumables. Also, compared to other types of healthcare insurance, the dental insurance offered for the treatment is substantially less expensive. Private health insurance or personal funds are used for the majority of the funding. The expansion of the dental sector is constrained by the decrease in patient visits and treatments caused by such low insurance and reimbursement rates. 

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

Global Dental Services Market

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Oman Fitness Service Market is Poised to become a $125.0 Mn industry by 2025. Will it be able to achieve it? : Ken Research

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In the Healthcare Quality Index, Oman was ranked 66th in the world. The country's generous healthcare budget has also contributed to the country's position in the healthcare index. Customers benefit from the exercise services provided by fitness centers by reducing the incidence of chronic diseases caused by physical inactivity. If a significant proportion of the population affected by lifestyle diseases, visits a fitness center, then the estimated savings in direct health care costs from Oman's fitness centers will be substantial.

Click to Read Full Article: Oman Fitness Service Market

1. Majority of the people in Oman spend 1-4 hours exercising, Yoga, Walking, Zumba and others to stay fit and healthy

24-55 years, especially the working population invest 5-8 hours/week doing Running, Yoga and Exercises at home to remain fit. Additionally, 25-35 years population invest more than 9 hours/week doing rigorous exercises such as HIIT, Running, Strength Training and Muscle Building to get in shape. Furthermore, 45+ years population in Oman are usually inactive and invest 1-4 hours/week doing Walking, Yoga and Meditation. This increases the need for more fitness related services in the country, which can benefit the population inclined towards fitness.   

2. The increasing rate of obesity and disease prevalence in Oman has been expected to boost the personal training market

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In 2017, the National Non-communicable Disease Survey reported that 66 per cent of the population in Oman is overweight and obese. The prevalence of obesity in the sultanate has increased to 23.2 per cent among males and 39.3 per cent among females. Statistics also indicated the increasing incidence of obesity and overweight among children and those in younger age groups. This has given rise to the personal trainer market in Oman, which has a significant impact on health of many people, going for this service.

3. Majority of the Fitness Equipment in Oman are imported from countries such as UAE, Italy and China, which reduces the total cost of manufacturing in the country.

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Majority of the fitness equipment’s in Oman are imported from countries such as UAE, China, USA, Italy and Poland. This reduces the manufacturing cost in the country. Additionally, 5-10% Custom Charges with additional taxes and 5% VAT are levied on Fitness Equipment’s. Moreover, local Manufacturers such as Phoenix Muscat LLC, Al Ansari (Decan Sport) Manufacturers also manufacture fitness equipment’s. Furthermore, distributors present in the country are selling a wide range of fitness equipment’s. Major Distributors include Wellness Oman, Sports Solution Oman, Mudra Sports and others.  

4. With an extensive public health service, many hospitals and clinics in Oman provides high standards of medical treatment and wellness services.

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Oman has physical wellness centers equipped with gyms which inspires and assists their clients in healthier lifestyles by promoting, restoring and maintaining the physical well-being of our community. They differ from regular gyms or fitness clubs because the staff is made up of exercise physiologists, physical therapists, or athletic trainers with nationally recognized certification and experience in helping people who are medically challenged. Additionally, all these services are helping to increase the fitness service market in the country, and is contributing towards growth in becoming a $125 million industry.

4 Cornerstones of Thailand’s Medical Education Market: Embracing New trends, Improved Governance and Diverse Opportunities: Ken Research

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As of 2019, Thailand's population of 68 million is served by 927 government hospitals and 363 private hospitals with 9,768 primary care health units (SHPH clinics), responsible for Thai citizens’ health at the sub-district level. SHPH has played a significant role in Thai public health. Additionally, there are 25,615 private clinics. This increase in demand for medical services is due to an aging population and an increase in chronic illnesses. As a result, the medical education market is projected to foresee a bright future in the years to come.

Click to Read Full Article: Thailand Medical Education Market

1. Similar to other Asian Countries Internal Medicine is a popular choice of most medical students due to the various options availability for sub specialty

General Medicine and Neurology are the most popular areas of sub-specialization in Internal Medicine. It is by far the most popular Specialization for inters, since maximum seats are occupied by residents are for internal medicine. Moreover, Internal Medicine owes its popularity and highest trainee area is due to the vast expanse of fields and subjects such as, Allergy/Immunology, Cardiology, Critical care medicine, Endocrinology, Gastroenterology and more.  Furthermore, the pass percentage rate has been considered as 80% in the IM Exam. This percentage is quiet high compared to other Asian Countries, which makes is much more competitive.

2. Krung Thep Maha Nakhon has the highest no. of medical colleges because it is the only cosmopolitan city with cultural and commercial centre in Thailand

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Krung Thep Maha Nakhon has the maximum no. of colleges because there is high literacy rate and high accumulation secondary schools. Another major reason is the high opportunity for the internship and residency program, since maximum no. of colleges in the central region. Moreover, government is now targeting the rural regions to avoid over crowdedness in the central region and improve healthcare in the rural areas.

3. Thailand’s Higher Education Institutes flourishes under Centralized Governance and Enhanced Oversight by MOE Office.

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Thailand currently has 156 higher education institutions (HEIs) which are divided into three categories: autonomous, public and private . Another important change has been the creation of the Ministry of Higher Education, Science, Research and Innovation (MHESI) in May 2019. This reflects the Thai Government’s belief that research is at the heart of higher education, and research can make an impact when researchers work hand-in-hand with HEIs. In addition, the Council of University Presidents of Thailand and the Association of Private Higher Education Institutions of Thailand are important peak bodies that influence the administration and policy of both public and private HEIs.

4. There has been International Collaborations for Ophthalmology campaigning for the reduction in prevalence of eye diseases in Thailand.

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The Ministry of Education Thailand has endorsed many collaborations with other foreign countries in terms of education. Fifty-eight Thai higher education institutions signed 583 MOUs with foreign counterparts. Thai Government has initiated medical education reforms, that have facilitated the international collaboration between universities, Thai to English program and easy visa facility for foreign students. OHSU Casey Eye Institute, in collaboration with OHSU Global's partnerships in Southeast Asia, is working hard to bring positive change to eye care in Myanmar.

UAE E-Commerce logistics is aiming to reach AED 3.0 Bn Market by 2027. Will it be able to achieve it?: Ken Research

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The global e-commerce market has grown dramatically over the past years, transforming the dynamics of consumer behavior and business models in various industries. In the retail sector, the global e-commerce market is expected to continue growing between 2022 and 2027. Escalation in the number of smartphones in the country, high consumer confidence, changing consumer preferences, etc. have augmented the growth of e-commerce leading to surging demand for e-commerce logistics as well in the country. The e-commerce industry in the country is not limited to retail, several industries have demonstrated an increase in e-commerce volume shares such as entertainment, travel services, and airlines.

Click to Read Full Article: UAE E-Commerce Logistics Market

1. E-Commerce Logistics Players in UAE delivered ~60.0 Mn Orders in 2020, growing due to high internet penetration & Smartphone users.

9.98 million people in the UAE are internet users in 2022, which represents 99.01% of the total population. UAE’s smartphone users make up a total of 9.80 million and they spend around 4 hours and 35 minutes on the internet. This internet is used for shopping, travel, entertainment and a variety of other reasons. Due to people having access to fast internet services and high rate of smart phone users in the country, more and more orders were placed. This lead to the millions of orders placed, especially during the pandemic.

2. Amazon, Noon & Namshi are highly preferred for online shopping owing to large variety & better quality of products.

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In the last 5 years, e-commerce companies like Souq.com and Namshi have exploded in popularity. The ease of online payments through other applications have made people more fond of online payments for e-commerce, thus increasing internet retail by 40%. Amazon’s acquisition of Souq.com for $580 million paved the way for the American technology giant’s entry into the MENA Region in 2017. Moreover, marketplaces such as Amazon (formerly Souq), Carrefour UAE, Noon, Jollychic and Farfetch are poised to continue to put pressure on traditional brick-and-mortar stores due to strong digital infrastructure and improved trust in these big e-commerce players.

3. Emiratis still prefer COD over Prepaid Shipments owing to Lack of Trust but the trend is rapidly changing owing to increasing adoption of contactless payment options.

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E-Commerce accounts for a bigger share of total UAE card payment transaction values in 2020, compared to pre-pandemic predictions. During Covid, there has been an increasing interest shown towards digital payments but only on the trusted websites. Most of the SMEs still offer COD as the only payment mode in UAE. Post Covid outlook is that 43% will continue using contactless payments and 48% will opt for digital payments online over COD for future e-commerce purchases. Furthermore, government initiatives for cashless transactions have created familiarity with the process of E-Payments and facilitating availability of channels. These factors are giving a major boost to Ecommerce Industry.

4. Major Warehousing Concentration Lying in Dubai Emirate owing to presence of major Seaports, Airports & Retailers in the region.

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Companies such as DHL, UPS and FedEx have penetrated the local market through effective collaborations with domestic companies. These companies have built warehouses to cater to the cross border shipments. Moreover, warehouses are concentrated mainly in Dubai region with few warehouses located in Abu Dhabi, Ajman & Sharjah.

The country’s recent efforts at economic diversification to decrease reliance on oil exports’ revenues have proven successful in building and maintaining a strong economic ecosystem, which has driven investments and created job opportunities, thus attracting global talents will play a big role in achieving the AED 3 Bn mark by 2027. Furthermore, fast adoption and innovation, has enabled the UAE’s e-commerce growth. Moreover, the e-commerce industry in the country is not limited to retail, several industries have demonstrated an increase in e-commerce volume shares such as entertainment, travel services, and airlines. All these factors will likely contribute in reaching AED 3 Bn mark by 2027.

The Global Used Vehicle Industry Generated $ 1.25 Tn Revenue In 2022-Explore, How The Market Will Further Shape In Future? : Ken Research

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Inflation, High price of new vehicles, Availability of used vehicles at lower prices are major factors contributing towards development of Global Used Vehicle Market.

1. Data reveals that COVID-19 has affected the demand for Used Vehicles in a highly positive manner all over the globe

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Due to the impact of COVID-19, there has been a substantial decrease in the denominator (new vehicle sales) while the numerator, i.e., the pre-owned vehicle market, has been relatively stable. In 2020, the market became much distorted that used vehicle prices became comparable with the cost of brand-new vehicles. Supply and stock problems coupled with high prices are pushing the customers towards the used vehicle market. After falling to $ 600 Bn in early 2020 it since pushed all-time highs of $ 1.25 Tn in 2022.

2. Popularity of used vehicles among mid aged consumers

According to the analysis, individuals in the age group 30-60 acquired more than 50% of the used vehicle sales volume. The demand is basically fueled by the consumers not wanting to buy new vehicles due to several factors, including the cost of licenses, and the decline in the vehicle’s value once they are licensed. It is to be noted that younger generation (18-30) accounted for the second most preferred used vehicle sales volume while the older generation (>60) accounted for only a small percent of the sales volume.

3. The future comprises much of digital dominance- “The role of social media on global used vehicle market”

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The global Used Vehicle Market is almost entirely dependent on social media. Vehicle dealers use blogs to generate traffic to their website from search engine results pages. They often put-up educational content related to vehicles maintenance, help guides, knowledge material in order to create a brand presence which helps them in the long run. Moreover, unlike online portals and market places, social media provides an opportunity to dealers to advertise their vehicles for free which in turn increases their profit. Social media platforms like Facebook (60% dominance), Twitter (20% dominance), YouTube (20% dominance), etc. are also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events which increases their popularity among the masses.

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

Global Used Vehicle Market

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Neo Bank: A new wave of change in the Indian Banking Sector: Ken Research

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The Neo banking industry had been in its infancy phase for 6 years in India. But the market picked up the pace during the pandemic with the entry of new players, and an increase in technology and internet penetration. Additionally, RBI and the government’s increased participation in the digitalization of payment mechanisms along with the introduction of UPI which has boosted the growth of the neo-banking industry.

1.  India’s financial service sector is picking up pace due to a number of supportive factors that include a young population, high fin-tech adoption, and increasing internet penetration

2.  With the current momentum in financial services, neo-banks are also proliferating in the country led by the emergence of new players in the Indian neo-banking segment

3.  Even after showing robust growth, the neo-banks are yet to receive specific licenses or regulatory approvals in India

 

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4.  In addition to rules and regulations, high acquisition cost, customer trust are some of the other barriers to the growth in the Neo banking industry

5.  Still, the neo-banking segment is able to thrive in the Indian market due to the high adoption of Fin-Tech coupled with Lower Pricing and High User Experience

6.  The Indian neo-banking sector is expected to grow at a CAGR of 9%. However, growth rate is expected to be stabilize in the coming years

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Indian Neo Banking Industry

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4 Tailwinds that will drive AUD 14 Bn Pharmacy Retail Market of Australia. Will the market be able to keep up with New Trends?: Ken Research

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Australia Pharmacy Retail Market, which surged ahead with over 6.9% year-on-year growth in 2020, spent an estimated >AUD22.3 bn on medicines in 2020 and including spending by Governments, Non-government sources, and Individuals., as per findings released by Ken Research.

The private health sector has led developments in the digital health industry over the last decade. However, federal, state, and territory government investments have increased significantly in recent years. The covid-19 pandemic, the 2019-2020 bushfires, the Royal Commission into Aged Care Quality and Safety, and the Productivity Commission's Mental Health report have all accelerated investment in digital health and increased coordination among government and private sector participants.

Click to Read Full Article: Australia Pharmacy Retail Market

1. Problem of Overweight & Obese, Chronic Conditions & Hypertension recorded maximum number of patients in Australia.

2/3rd of the of adults in Australia i.e. ~68% which is ~17 Mn were overweight or obese in 2020, an increase from 63% in year 2014-15. Additionally, ~25% of children were overweight or obese in Australia. However, the rates were similar for boys & girls & this has remained stable over the last ten years. Moreover, ~47% of Australians had one or more chronic conditions in 2020. Furthermore, prevalence of chronic conditions increased from around 42% in 2008. All this affects the pharmacy retail chains in the country and increases there revenue share in the market as more and more people rely on medicine to cure their diseases.

2. 90% of the Pharmaceutical Products/ Medicines are Imported in Australia.

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Australia imports 90 per cent of its medicines, with around one-third of Australians reliant on daily prescriptions. Additionally, Australians spent an estimated >AUD22.3 bn on medicines in 2020 (including both prescribed & over-the-counter) and includes spending by Governments, Non-government sources and Individuals.  Every year a number of new medicines are listed on the PBS. These medicines affect both the average price paid by the government and the volume of medicines dispensed/consumed impacting overall PBS expenditure.  

3. ~87% of the Pharmacies in Australia have adopted Latest Updated Pharmacy Information Software Solutions at their Stores.

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Pharmacy management systems streamline the workflows for drug dispensing, medical claims management, and patient medication adherence. Pharmacy employees use these tools to optimize operational efficiency, leverage actionable data points, and reduce costs, compliance risks, and errors. ~10%-15% Pharmacies in Australia require Pharmacy Information Software Solutions. Moreover, ~5,000 Pharmacies Registered with My Health Record Platform & Pharmacies are actually Using Platform/ Pharmacy Software in the country.

4. Prescribed Medicines dominate the Market with 60.0% share in terms of Revenue due to Higher Prices associated with the Prescribed Medicines.

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Medicines are primarily prescribed by medical practitioners (GPs and referred medical specialists), however certain other types of health practitioners (dentists, optometrists, nurse practitioners and midwives) can also prescribe medicines.  Medicines used to treat cardiovascular conditions account for the highest volume of PBS and RPBS prescriptions compared with other ATC groups between 2015–16 and 2020–21. The pandemic impact on consumer access to prescription medicines was most noticeable in March and April 2020. In March, there was an increase in the number of prescriptions dispensed in 2020 (31.0 million), compared with 2019 (25.2 million).

Innovations in Healthcare Service Packages and the adoption of telemedicine services through their apps will drive the Retail Pharmacy Market in Australia. Pharmacies will not only offer medicines, but will also expand their offerings to include cosmetics and online consultations, as well as 24/7 service, in order to compete in the long run. In addition, they will focus on collaborations with Teleconsultation Companies to expand their service portfolio. In the future, larger pharmacies will acquire smaller pharmacies in order to expand across the country.

Morocco Data Center Market – Late boomer yet catching up: Ken Research

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1.  Morocco is experiencing digital transformation and becoming industrial hub in Africa. There were 23.8 million active social media users and 26.5 million mobile internet users in Morocco in 2022

2. Morocco is witnessing the growth in adoption of digital services such as cloud, big data, and IoT, which are driving the demand for data centers in the region

 

 

3. Data center market in Morocco is in hesitators due to small market size and low growth rate in the year 2022

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4.  Poor availability of electricity and lack of strong legal framework are few restraints in the market which is expected to be improve by increased government investment in IT sector

5.  The growth story is still intact. The data center companies such as INWI have expansion plan to open two new data centers by the end of the year 2023

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Morocco Data Center Market

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The Future of $910 Billion Cold Chain Market- What are the latest Trends that are driving this Global Industry: Ken Research

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The global cold chain market is projected to reach over $900 Billion by 2031, growing at a CAGR of 12.8%, says a report by Ken Research

1. Rapid urbanization and a rise in the middle class leading to increase in demand of cold chain products.

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As a macro trend, the demand for perishable goods is anticipated to rise globally. On the other hand, a combination of urbanization and an increase in the number of individuals entering the middle class globally is what is causing the demand. This group of people has been placing higher standards on food as well as other products that need precise temperature regulation. Demand for frozen meals and commodities that need particular handling and temperature tolerances has risen dramatically.

2. Growing consumer demand for perishable foods is a major growth factor in the Global Cold Chain Market

Increasing customer demand for perishable foods contributed to in the historical expansion of the cold chain business. The rising urban population and shifting dietary preferences of the general public are driving up the demand for perishable commodities such dairy, fruits, vegetables, and meat. Due to the nature of perishability, consumers are gravitating towards purchasing perishable foods that have an extended shelf life. Perishable food items are in high demand in emerging economies in the Asia-Pacific and Latin America.

3. Use of IOT and technology-based operations will lead to growth in the cold chain sector.

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Focusing on sustainability initiatives, quality and product sensitivity, leveraging the internet of things (IoT), focusing on smart warehousing, outsourcing processes to third-party logistics, and focusing on strategic investments are some of the illustrations of market-trend-based strategies for the cold chain market.

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

Global Cold Chain Market

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