The Thailand Car Mobility-as-a-Service Market is expected to contribute USD ~2500 Mn by 2027 owing to contactless car-sharing, online booking and government regulations: Ken Research

Ecosystem of Car Mobility-as-a-Service Market in Thailand

Thailand Car Mobility-as-a-Service Market is at growing stage with highly fragmented market with more than 2,000 players in the market. All players are competing against with each other on the basis of base fare, avg ticket size, waiting time, fleet size, no of drivers, daily rental price and revenue.

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Key Findings

• Newer business models such as ride hailing and car sharing that integrate well with shared mobility ecosystem like public transport are expected to achieve high growth.

• The boom of travel and tourism industry will also lead to rise in demand for car rental and leasing as tour operators and hotels will increasingly offer private car rental to their customers for which they lease their fleet.

• Increased demand for leasing from corporate sector will lead to steady growth rate of fleet size of leasing companies in Thailand.

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Growing tourism: The demand for car mobility services has grown over time as a result of rising international and domestic tourism, as these services are practical for commuting inside cities and have clear pricing. The introduction of LTR Visa will make it simpler for tourists with high spending levels to remain in the nation for longer. Through a variety of specialized marketing initiatives, the nation is casting a wider net in an effort to draw a wider range of tourist demographics.

Online Car Rental Booking Services: As moving toward digitalization improves operational revenues as well as customer experience, online companies will become more and more popular in the provision of car mobility solutions.

Technological Advancement: The primary drivers of the growth of the nation's car rental services will be preferences for the use of technologically advanced personal vehicles coupled with an increase in disposable income.

Smartphones Proliferation: Proliferation of smartphones has gone from 80% to 81% and internet penetration has increased from 85.3% to 92% over the period of 2021-2022, which has led to considerable growth for mobile application-based business models. This will not only make these services more accessible but also more affordable with increased competition and transparent pricing.

Analysts at Ken Research in their latest publication “Thailand Car Mobility-as-a-Service (MAAS) Market Outlook to 2027- Driven by Rising tourism, technological developments and booming automotive manufacturing” observed that Car Mobility-as-a-Service Market in Thailand is at growing stage. The consumer preferences, internet and smartphone penetration, growing tourism with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an 6.1% CAGR during 2022-2027.

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Thailand Car Mobility-as-a-Service (MAAS) Market Outlook to 2027

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Middle East Metal Working expected to reach $5 billion by 2028: Ken Research

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As the Middle Eastern countries develop their manufacturing & automotive units, there’s a surge within the metalworking industry of the region.

Amidst the transformative winds of 2023, the Middle East is in the midst of an infrastructure renaissance. Landmarks like Dubai's climate-controlled URB Bridge and the UAE National Railway Network stand as testaments to this era of advancement. As the region invests heavily in construction and transportation, the demand for metal fabrication and processing intensifies, fueling the growth of the metalworking industry.

Story Outline

• In 2023, the Middle East's vigorous infrastructural investments, exemplified by projects like Dubai's URB Bridge and the UAE National Railway Network, underscore the region's commitment to modernization.
• Middle Eastern governments are steering their countries toward industrialization and economic growth. With policies like Dubai Industrial Strategy 2030, initiatives like the UAE Programme and transformative events like StreetFab, all these propel digital transformation and local innovation in the metalworking sector.
• The shift from oil dependency to manufacturing is reshaping the Middle East economy. Countries like Saudi Arabia are forging agreements with global partners to expand their manufacturing capabilities, resulting in a surge in metalworking needs to support various industries, including automotive and electronics.
• According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

1. Middle East’s Infrastructural Investment Fuel Metal Industry Boom.

Tata Steel Middle East Metal Works Size

UAE Rail Network Map, 2023

The year 2023 is seeing various kinds of infrastructural investment made across the Middle East areas, like the URB Bridge in Dubai, which is a climate-controlled year-round structure designed to promote cycling & walking as a primary mode of transport.  The UAE National Railway Network was set up at the main center for Control & Maintenance in Al Fayah region of Abu Dhabi.

Countries in these regions are heavily investing in construction of new buildings & means of transportation. It shows how these projects require significant amount of metal fabrication & processing, driving demand for metalworking products & services.

2. Government’s Led Industrial Boom: Dubai’s Vision & High-Tech Innovations

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Objectives of Dubai Industrial Strategy, 2030

Governments in the Middle East countries are known for investing towards initiatives involving industrialization, economic growth & job creation. Countries like Dubai have been scaling up their efforts to become an industrial hub, which is in line with the Dubai Industrial Strategy 2030. This policy aims to improve the industrial growth of the region & to promote research & development.

With policies which aim to speed up the digital transformation of the industrial sector, trade events like StreetFab have emerged as a game changer for the metal working industry in UAE & the Middle East.

Moreover, government initiatives like UAE Programme aims to develop 1,000 technological projects are launched to promote innovation, research & development enhance local supply chain.

According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

3. Forging Skilled Futures: MEITI & Mont Royal Elevate Middle East Metalworking

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Top Skills Required in Middle East regions, 2022

As the demand for metalworking industry starts increasing, inevitably there is a need to have skilled employees who can perform the technicalities of the given job. In Middle East, there are institutes like the Middle East Industrial Training Institute (MEITI), Mont Royal Elevate in Abu Dhabi, are renowned for providing internationally accredited training provider of technical, management & skills training courses.

Investment in training & skill development programs can help in meeting on-the-job demands & ensure a capable workforce.

4. From Oil to Innovation: Middle East's Industrial Renaissance Fuels Metalworking Surge

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Automotive parts which require metal working

As the Middle Eastern countries have stopped their dependence on oil industry, they’re gradually increasing their manufacturing capabilities. In January 2022, Saudi Aramco announced 50 preliminary agreements with local & international companies including Honeywell, Larsen & Turbo & Sutherland Global Services, as a part of In-Kingdom Total Value Add (IKTVA) drive to increase the volume of goods and services produced in Saudi Arabia.

Metalworking forms a crucial part of the manufacturing industry, including automotive, electronics etc.

5. Middle East Automobile Boom Drives Surge in Metalworking Demand

Demand for new vehicles in the Middle East & Gulf regions (excluding Iran) has increased by 22.3% in December 2022. In 2021, Saudi Arabia led the region when it comes to increasing sales in terms of passenger & commercial car sales. Turkey & Iran are two countries which have been dominating in automotive productions & they focused on producing passenger cars followed by light commercial vehicles.

More cars produced means increasing demand for engine parts, hinges, body panels etc. which demands metalworking products.

Conclusion

In the heart of the Middle East's rapid evolution, the convergence of infrastructural investments, governmental initiatives, and shifting economic landscapes marks the onset for a resounding metal industry boom.

As nations diversify their economies, embrace innovation, and invest in skilled training, the demand for metalworking products and services will certainly reach new heights.

This transformative journey from oil reliance to manufacturing prowess underscores the region's determination to shape its destiny through industrial growth and innovation.

Top 4 US Loan Servicing Companies And Their Strategies In US Loan Servicing Market: Ken Research

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US Loan Servicing Market is growing due to advanced digital practices and technological advancements. The market is loaded with numerous loan servicing companies that offer a variety of services according to today’s modern needs. Let’s have a look at some of the top companies and their strategies.

Story Outline

• Fiserv Inc.: One of the FORTUNE’S most admired companies of 2023, a leading global technology provider in the financial services industry, pushing innovation in payment processing, risk and compliance, customer and channel management, and business insights and optimization.
• Notridge Software LLC: A powerful cloud-based, on-premise loan servicing system, that wants to provide you with a versatile and powerful toolkit so you can easily originate and service loan portfolios.
• Shaw Systems Associate: The leader in Loan Servicing Software for over 50 years, that has specialized in loan servicing software since 1967, with a goal to serve financial institutions by using its significant knowledge in software development to offer scalable and automated solutions through a customizable user-friendly interface.
• Constellation Mortgage Solutions: A loan servicing system, that initiates class infrastructure, which has more than 30 years of stability and experience, which enables a full range of loan servicing solutions, from cashiering and payment processing to escrow management, investor reporting, and default management.

The Loan Servicing Market of US is driving growth at an amazing level. This surge is a result of constant increase in digital transformation practices, coupled with rapid growth of fintech startups, population growth and urbanization, and adoption of cloud computing model. Various Loan Servicing companies are actively shaping this growing market with their strategies and innovations.

1. Fiserv Inc.

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Fiserv, Inc. is a leading global technology provider in the financial services industry, pushing innovation in payment processing, risk and compliance, customer and channel management, and business insights and optimization.

The corporation has operations in the United States and Canada, Europe, the Middle East and Africa, Latin America, and Asia Pacific. Fiserv's headquarters are in Brookfield, Wisconsin, in the United States.

Fiserv is employing around 10,000 people, has around 73 offices throughout US and, is serving thousands of financial institutions and millions of businesses in more than 100 countries.

Fiserv says, "Our purpose is to deliver superior value for our clients through leading technology, targeted innovation, and excellence in everything we do." They see achieving excellence and inspiring others as their primary goals for success.

One of FORTUNE's "World's Most Admired Companies" for 2023 is Fiserv. The companies with the best reputations both within and across industries are identified in this esteemed yearly list. Additionally, Fiserv was honored for its excellence in people management, corporate asset utilization, corporate social responsibility, management quality, long-term investment potential, and product and service quality.

Tata Motors Finance, one of India's leading auto finance companies, has partnered with Fiserv, a provider of global payments and financial services technology solutions, to strengthen its digital lending capabilities and improve customer experiences.

Amazon and Fiserv launch a rewards collaboration. Through this partnership, cardholders at banking institutions that are enrolled in both the Amazon with Points and the uChoose rewards programs will be able to easily redeem rewards points for all or a portion of their qualifying purchases at the point of sale.

2. Nortridge Software LLC.

Nortridge is a cloud-based and on-premise loan servicing system. It serves government agencies, branch-based lenders, vehicle finance companies, and consumer finance lenders. The system’s key features are Enterprise-grade security, precise setup choices, loan automation, and workflow management.

Nortridge is a team of around 200 people providing a user-friendly platform to its users worldwide. At the start of 2023, the company witnessed, that globally around 50 new companies started using Nortridge software as a loan servicing tool.

The company promises “Lenders and services shouldn't be required to modify their operations to take advantage of a software platform's features. The order should be reversed. In order to support your company in achieving its objectives, Nortridge Loan System works to align with your business requirements. The result of many years of asking the appropriate questions and paying attention to our clients is NLS. The system wants to provide you with a versatile and powerful toolkit so you can easily originate and service loan portfolios.”

Payix, a REPAY company and the nation's top provider of borrower-facing communications and collections tools announced the growth of its exclusive partnership with Nortridge Software, in 2022, to offer Nortridge customers online cash payment acceptance, or eCash.

3. Shaw Systems Associates, LLC

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The leader in Loan Servicing Software for over 50 years, that has been specialized in loan servicing software since 1967, Shaw Systems, is a reputable leader in this field.

Customer support, delinquency management, recovery, and placement are some of the ways that their technology controls every stage of the servicing life cycle. They provide seamless support for the needs of the borrower, dealer, internal staff, and management through completely integrated loan servicing system. Numerous software systems for servicing consumer loans are supported by Shaw. Their tools include built-in functionality for automating procedures and navigating the changing credit market. Shaw Systems provides help for loans, credit lines, direct and indirect commitments, floor plans, securitization, and insurance products.

The company's goal is to serve financial institutions by using its significant knowledge in software development to offer scalable and automated solutions through a customizable user-friendly interface. In order to provide lenders with electronic bill payment options that cater to the needs of every consumer segment, PayNearMe and Shaw Systems Associates, LLC have expanded their partnership.

According to Chris Shaw, CEO of Shaw Systems Associates, LLC, "In the fiercely competitive consumer lending market, reliability and innovation are essential for lenders to differentiate themselves and succeed."

“Our enhanced PayNearMe integration enables lenders to collect both cash and electronic payments on a single platform, right from the Shaw platform interface.”

4. Constellation Mortgage Solutions

Constellation Mortgage Solutions is a loan servicing system, that initiate class infrastructure, which has more than 30 years of stability and experience, which enables a full range of loan servicing solutions, from cashiering and payment processing to escrow management, investor reporting, and default management.

CMS gives your staff more freedom to swiftly adjusts to new rules, that can be tailored to your particular workflow. All the tools and integrations you require to maintain operations within the CMS enterprise platform are included in our highly customizable solutions.

CMS, which is a portfolio of market-leading financial technology solutions in the mortgage space, announced on February 10, 2022 that it has acquired ReverseVision, Inc., an award-winning provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales origination software. The acquisition includes ReverseVision’s core platform, ReverseVision Exchange (RVX), RVDOC Composer (RVDOC) which provides customized and compliant reverse mortgage documents, and ReverseVision Sales Accelerator (RVSA) which includes advanced loan modeling and comparison tools.

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US Loan Servicing Market

Qatar Lubricants Landscape: Pioneering Growth, CAGR Dynamics, and Trailblazing Trajectories: Ken Research

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With a steady sales volume CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

Storyline

• Resilient Growth Dynamics: Qatar lubricants market, CAGR 2.6% in 2022, influenced by oil price shifts and inflation rate trends.
• Diverse Growth Drivers: FDI influx, automotive electrification, manufacturing focus, and tourism boost shape industry trajectory.
• Market Landscape: Top players dominate, automotive sector key, QALCO's rise, EV transition, and eco-friendly lubricants anticipated.
• Sustainable Future: Vision 2030, CAGR 1.9% by 2027, hinges on renewables, manufacturing expansion, stringent norms, and industry innovation.
• As per ken Research, As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% by 2027, driven by renewables, manufacturing, and environmental standards.

1.Surging Growth, Inflation, and Key Drivers

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The Qatar Lubricants Market has demonstrated an upward trajectory, showcasing a robust growth from 2017 to 2022 & registering a volume-based Compound Annual Growth Rate (CAGR) of 2.6%. The market's growth has been influenced by the spontaneity of crude oil prices which resulted in shifts in lubricants demand as well as revenue patterns.

Qatar's inflation rate also witnessed a notable increase, climbing from 2.30% in 2021 to 4.96% in 2022. Additionally, an increase in construction activities has fueled the demand for commercial vehicles and construction equipment.

Key growth drivers encompass significant factors including the FIFA World Cup 2022, industrial innovations, rising foreign investments, emphasis on manufacturing, and an increasing demand for rental cars.

2.Key Players and Market Overview

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The Qatar Lubricants Market has a moderately consolidated pattern, with the top five companies collectively occupying around 48% of the market share. Key players in this arena include ExxonMobil Corporation, Qatar Lubricants Company (QALCO), Royal Dutch Shell PLC, Total Energies, and Valvoline Inc.

That being said, the major focus of the market having more than 100 lubricants manufacturers is on automotive sector. In 2020, the Qatari lubricants market witnessed a significant dominance by the automotive sector, constituting around 56% of the total lubricant consumption in the country. This underlines the pivotal role of the automotive industry in shaping the lubricants landscape.

3.Stable Growth, EV Transition, and Regulatory Shifts

The present lubricants market in Qatar showcases steady growth, with a projected continuation of this trend in the medium to long term. Notably, substantial investments have been infused into key sectors such as construction, transportation, and manufacturing, attributed to the forthcoming FIFA World Cup 2022.

Moreover, the growing prominence of Qatar Lubricants Company (QALCO) as a domestic manufacturer has introduced heightened competition against foreign counterparts. As the automotive sector experiences a gradual shift towards electrification, a fresh avenue emerges for specialized Electric Vehicle (EV) greases and fluids.

 In line with environmental concerns, the government is anticipated to enforce more stringent regulations, fostering the adoption of eco-friendly lubricants. These multifaceted developments collectively shape the landscape, with Qatar's lubricants industry poised for ongoing growth and transformation.

4.Diversified Growth Drivers Fueling Expansion and Industrial Advancements

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The growth pattern of the Qatar Lubricants Market is fueled by a plethora of key drivers, including the diversification of the oil-dependent economy, increasing Foreign Direct Investment (FDI) influx, surging demand for rental car services, and the rising emphasis on the manufacturing sector. The Qatari government's strategic move to advance domestic manufacturing through the Qatar Manufacturing Strategy 2018-2022 has underlined the importance of sectoral growth, majorly in areas like polymers, plastics, aluminum, additive manufacturing, food & beverage, and pharmaceuticals.

The thriving tourism sector, with around 1.4 million global tourists in 2022, propelled an increase in car rental services. Moreover, Qatar's role as the host of the FIFA World Cup 2022 attracted substantial FDI for infrastructure and industrial development thereby driving construction activities and increasing the demand for lubrication-intensive machinery.

The progressive diversification of the economy from oil-dependency paired with strategic initiatives such as Free Trade Zones (FTZs) and enhanced export capabilities, has enhanced industrialization, further strengthening the market's growth prospects.

5.The Future Potential

The trajectory of Qatar's lubricants market points to advancements at a steady CAGR of 1.9%. In tune with Qatar National Vision 2030, important investments have been made for diversifying the economy beyond oil. This transition is paving the way for major lubricant demand avenues.

 The focus on establishing world-class infrastructure alongside robust logistics facilities is expected to fuel the requirement for new commercial vehicles and heavy machinery, inducing lubricant consumption. Moreover, major investments in petrochemicals, manufacturing, and logistics sectors are expected to enhance lubricant requirements in machinery, processing plants, and transportation fleets.

The stringent global emission norms and environmental standards for machinery and vehicles are anticipated to heighten the demand for eco-friendly lubricants, fostering sustainability in the industry.

Conclusion

In a unique blend of economic diversification, strategic investments, and evolving consumer trends, Qatar's lubricants market has started a transformative journey. With a steady CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% (2022), driven by renewables, manufacturing, and environmental standards. The interplay of automotive electrification, regulatory shifts, and industry innovation augments its growth, promising a future fueled by sustainable practices and promising prospects.

US Location Analysis Market expected to reach $7 bn till 2027: Ken Research

 United States is one of the largest markets of location analysis across the world which uses it across various domains like healthcare, marketing, security, urban planning etc. to provide the best services to their consumers.

Location analysis is an essential part of business decision making & providing innovative & value-based solutions have significant potential for success. The process of location analysis involves data collection, data processing & integration, spatial analysis & data visualization. Geographic Information System (GIS) plays a crucial role in enabling the storage, manipulation & analysis of spatial data for location analysis.

STORY OUTLINE

• Street Light Data in San Francisco uses Internet of Technology (IoT) and location data from various other connected devices to analyse mobility behaviour & improve travel conditions in cities.
• Esri technology empowers retailers to understand consumer behaviour & preferences in physical spaces. By analysing data from different markets, a retailer could identify areas with a high concentration of online consumers & use demographic data to develop an omnichannel strategy, leading to increased revenue & market potential.
• Geospatial analysis in smart city projects like Geo hub in Los Angeles & Block faces in New York city, helps optimize urban infrastructure & resource allocation. Open data & location-based insights play a crucial role in identifying challenges & planning effective solutions for city needs.
• According to Ken Research, the US Location analytics market is expected to reach $7billion till 2027, since various industries are utilizing the location analytics mechanisms in order to customize their services, as per the customer.

1. Leveraging Location Data & IoT for Mobility & Security Solutions in Leading Cities

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Many cities & leading companies have been using connected devices, Internet of Things (IoT) has generated a massive amount of data with location information. A leading company, Street Light Data in San Francisco, analyses ‘mobility behaviour’ by using data provided by smartphones, GPS devices, connected cars & commercial trucks to name a few devices. All these create location records when they ping cell towers & satellites.

In California, Cisco uses location monitoring technology to let the user access the live feed of any security camera to assess security conditions. They can also collect the data to predict the patterns of crime & even social media was monitored for potential threats.

An IoT device is useful towards collecting data, with the help of GPS sensor as it passes down the information from MCU (Microcontroller) or Single Board Computer where data is processed & data can be transferred to a gateway or cloud through Wi-fi communication.

2. Location Analytics Empowering Retailers for Omnichannel Success

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Another major area of application for location analytics is, to understand consumer behaviour & preferences in physical spaces. Since online sales are strong in Austin, Texas, a retailer expressed their desire to open a retail store, to develop an omnichannel strategy using Esri technology, since data collected from other markets showed a 22% increase in revenue.

By ZIP code, the data showed where online customers are concentrated & where to find more like them, to provide an understanding about the market in general. Based on insights about the population, the retailer added the demographic data into the Business Intelligence platforms, providing easy access to enriched data for market potential.

On the basis of the metrics discussed above, the Austin retailer-built sales model based on the size of market & growth based on population projections for the region.

According to Ken Research, the US location analytics market is forecasted to reach 7 billion dollars till 2027, since many businesses are realizing the importance of utilizing location-based technology to understand their consumers in a better way.

3. Los Angeles & New York Lead in Data & Geospatial Analysis

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Many US cities have been investing in various smart city projects, which involve the usage of data & technology to improve the urban infrastructure & services. The City of Los Angeles has been a long pioneer in open data.

One of their initial projects included launching a site dedicated to exploring, visualizing & downloading location-based open data via a Geo hub. Geospatial analysis plays a crucial role in identifying the challenges faced in the city.

In New York city, the government use Block faces, where they set parking meter rates across the boroughs to be reflective of individual parking rates condition such as land, use, density & parking demand. Individual parking rates across each meter is represented by block face segments. All in all, location analysis plays a role in optimizing city planning & resource allocation.

Location analytics helps in interpreting the information based on geographical context to gain insights, patterns & trends that may not be dependent without examining data from the spatial component.

4. Unleashing Health Insights: CARTO’s Location Analysis for Better Care

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Location analytics is increasingly being employed in the public health sector to map disease outbreaks, identify high risk areas & optimize healthcare resource distribution.

CARTO, a cloud native location intelligence & geographical information software (GIS) in New York, provides spatial analysis which identifies which location factors may be the root cause for certain health problems which can easily improve outreach, services & interventions while providing a detailed picture of healthcare access. Their services are applicable for hospitals, primary care, residential homes & dental clinics.

Conclusion

Location data & IOT technology have transformed mobility, security, retail, urban planning & healthcare services. Companies like Street Light Data, ESRI & COSCO have harnessed this data to optimize travel, enable omnichannel success & improve city planning & healthcare outcomes. The integration of geospatial analysis has empowered cities & businesses to make informed decisions based on actionable insights, making our world smarter & efficient.

UAE Logistics Unveiled: How is Government Shaping the Industry's Future? : Ken Research

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In the dynamic realm of the UAE Logistics Industry, transformative trends are redefining its landscape. The surge in online shopping post-COVID-19 has propelled e-commerce logistics, yet challenges like traffic congestion, overreliance on road freight, and fuel price fluctuations loom large. Here, the government emerges as a catalyst for change. How exactly is the government taking the reins to surmount these hurdles and pave the way for sectoral prosperity? Delve into the next slides to uncover the strategic initiatives that hold the key.

1. Consumers shifting preference towards online shopping post-COVID-19 is leading to the growth of e-commerce logistics business in the UAE 

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2. But, Traffic Congestion, Over Dependence on Road Freight, and Fluctuation in Fuel Prices among others are the major bottlenecks of the Logistics Market

3. Interestingly, the UAE government has set transport infrastructure investments that are focussed on the development of a rail network, expansion of airports & sea ports, & technologically advanced infrastructure

4. However, the infrastructure from airports, seaports, and warehouses has not been standardized in Vietnam which inhibits the growth of the sector

4.1 Rising maritime, air cargo & land transport sector serves as a major catalyst for the growth and development of the logistics industry in the UAE

5. UAE has ample opportunities to support the existing growth of logistics industry by leveraging on the positive outlook of the quick commerce industry in coming years

Some of the Intelligence Curated by Ken Research in Logistics Market Space:

• Singapore Logistics Industry Outlook to 2028 Driven by Driven by growing investment in transport infrastructure and transformation towards digital economy
• Egypt Logistics Market Outlook to 2026 Driven by high growth in E-Commerce, government policies attracting foreign investors & promising manufacturing sector.
• Australia Logistics Market Outlook to 2026 Driven by infrastructural investments, government policies attracting foreign investors & promising manufacturing sector

New Zealand Logistics Market Outlook to 2026 Driven by Massive Logistics Infrastructure Investment, Flourishing ECommerce Industry, and Increasing Competition among domestic players

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UAE Logistics Market

The US Anesthesia Drug market is anticipated to become a ~USD 6.4 Bn Industry by 2028: Ken Research

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The United States Anesthesia Drug market is predicted to grow at a CAGR of ~4% in the upcoming 5 years as per the findings of Ken Research.

STORY OUTLINE

• Rising surgical procedures in the US are a major factor behind the growth of the US Anesthesia Drug market.
• Increasing geriatric population typically requires more surgeries which results in demand of the anesthesia drugs thereby accelerating the US Anesthesia Drug market.
• Technological advancements make the task of drug development easier and efficient thereby pumping the growth of US Anesthesia Drug market.
• Chronic pain is another field that requires the use of anesthesia

A fast growing industry, rise in surgical procedures, increase in geriatric population, and technological advancements along with rise in cases of chronic pain are some of the various reasons contributing to the growth of US Anesthesia Drug market. This market is anticipated to grow at a CAGR of ~4% in the next 5 years.

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1. Rising surgical procedures are a major factor for the growth in the US Drug market.

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Surgical procedures in the United States have been constantly rising. The rise in surgical procedures also results in the demand for anesthesia products which ultimately help in the growth of US Anesthesia Drug market as every surgery whether big or small requires the use of anesthesia to numb the pain from incisions.

In 2019, United States saw ~6.6 million surgical procedures and in 2020, the number got down to ~6 million procedures considering the impact of Covid-19. This number is projected to reach ~10 million surgical procedures by the end of 2023.

Speaking of cosmetic procedures done in the US, there were at least ~1.5 million cosmetic surgeries done in the US in 2021. Moreover, by the end of this year, we are expected to see ~1.4 million outpatient surgeries.

Some of the most common surgeries done in the US primarily include Cataract removal, C-section, Circumcision, Angioplasty, and Joint replacement. It should be noted that all of these surgeries require the use of anesthesia.

When there are so many surgical procedures done in the country, there becomes necessary to have a good supply of anesthesia drugs and the demand for such drugs keep on rising further. This constant demand due to rising surgical procedures accelerates the US Anesthesia Drug market.

2. Rising geriatric population: an accelerating force for the US Anesthesia Drug market

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The rising geriatric population in the United States is another factor that contributes towards the growth of US Anesthesia Drug market.

In the past 5 decades, the ageing population went from ~25,000 per 100,000 people in 1980s to ~54,000 per 100,000 people in 2020s.

This number is further anticipated to increase in the upcoming years. It is projected to become ~70,000 per 100,000 people in the 2030s. As the ageing population rises the surgeries also rise.

The most common surgeries that happen to take place in elderly are Cataract surgeries, Pacemaker Implantation, Hernia surgery, Hip and Joint Replacement surgery, Colorectal excision, Melanoma surgery, etc.

The ageing population typically requires more surgeries than other population. The rising ageing population results in more surgeries and more surgeries result in need of anesthesia products which ultimately results in growth and expansion of US Anesthesia Drug market.

3. Technological advancements is pumping the US Anesthesia Drugs market

When the drugs are developed, they need to be tested many times before they go ahead with clinical trials. To test the drugs, one needs highly efficient models for every disease and not everyone can afford that. 3D Bioprinting is the solution for this problem. It works by creating human anatomy which have better post OP results and are more precise.

Cryo-EM is another very popular technology that is primarily a set of three separate technologies which work by freezing the molecules and then fixing them. This technology also has the power of revealing what might be the side-effects of a drug or why it may fail.

Next generation Proteomics is a powerful and useful technology that are primarily used to reveal insights of every stage of various drugs pipeline. It lets people know drug targets, and helps in understanding the action mechanisms of various drugs along with knowing the predictive and diagnostic markers.

All of these technologies help doctors, scientists and pharmaceutical companies in making the task of drug development easier and efficient which ultimately helps in the growth of the US Anesthesia Drugs market as the drugs are developed faster and are quite effective as well as efficient.

4. Rising cases of chronic pain - Another field that may require the use of Anesthesia

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Pain that lasts anywhere in your body for more than 3 months is labelled as chronic pain. The problem of chronic pain is huge in the United States. Almost, 50 million people in the US suffer from chronic pain which is about 20% of the total US adults. And, almost 17 million people in the US suffer from high impact chronic pain which is about 7% of the total US adults.

Women tend to have higher prevalence of chronic pain as compared to that of men. In the US, at least 21% women will have chronic pain and 8% of women will have high impact chronic pain. On the other side, approximately 19% of men will have chronic pain and 6% of men will have high impact chronic pain.

Now what is the connection between chronic pain and anesthesia? Well, in many cases anesthesia is also being used to treat chronic pain. To treat chronic pain, typically Local Anesthesia (LA) is injected to tissues, joints and nerves to reduce pain.

Chloroprocaine, lidocaine, tetracaine, bupivicaine, and procaine are some of the local anesthesia that are also used in the treatment of chronic pain.

Thus, it can be said that the rising cases of chronic pain also helps in the growth of US Anesthesia Drug market as the task of pharmaceutical companies is not only to create anesthesia drugs for surgical procedures but these are also used in the treatment of chronic pain which motivates them to create effective and efficient anesthesia drugs.

CONCLUSION

US Anesthesia Drug market is a market which is concerned with the development of anesthesia drugs within the United States. There are various reasons for the growth of this market, some of which are rise in geriatric population, technological advancements, and rise in surgical procedures along with the rise in cases of chronic pain. Due to these major factors, this market is anticipated to become ~USD 6.4 Bn. Market in the next five years.

Companies covered in the Report:

• Baxter International
• Abbott Laboratories
• Hospira
• AbbVie
• Endo International
• Pfizer
• Pacira Biosciences Inc.

Key target audience

• Anesthesia Drug companies
• Potential market entrants
• Government bodies and institutions
• Research institutes
• Hospitals
• Patients
• Venture Capitalists
• Investors
• Medical educational institutes

Time Period Captured in the Report:

• Historical period: 2017-2022
• Base year: 2022
• Forecast period: 2022-2028

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US Anesthesia drugs Market

With Growing Demand for Healthy Meat Snacks, the US Meat Market is Projected to be Around $160 Bn by 2028: Ken Research

 Impacted by the global pandemic covid-19 the US meat snack market is slowly recovering. Along with traditional meat options, consumers are shifting towards new and healthy meat snacks that are high in protein, omega-3s, iron, and vitamin B12. The market is projected to grow at a CAGR of 4.5% from 2022-2028.

STORY OUTLINE

• US meat snack market has witnessed significant growth post-pandemic thanks to its variety of items that are high in protein and nutrients.
• Convenience stores have helped this market immensely to grow, as they are driving the maximum sale throughout the country through their stores.
• Americans are among one of the biggest consumers of meat items worldwide that’s the reason its meat snack market is going to increase significantly in the next five years (2023-2028).

According to Ken Research, the US meat market was affected hugely due to restrictions of covid-19 due to nationwide lockdowns and the closing of markets. The market witnessed huge growth post-pandemic as a result the sales of dried meat snacks increased by 5 % in 2021. Meat snacks are becoming the favourite of the working population and youngsters because of their hectic lifestyles. Portable snacks like sticks, jerky, and sausages are providing customers with healthy meat products.

1.Convenience Stores are Driving the Sales of Dried Meat Snacks

Meat snacks are generating huge revenues in convenience stores in the US. Demand for traditional jerky brands such as old trapper was very high among consumers. As it was the third most-sold product in the country’s convenience stores.

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This high demand led to a rise in specialist meat snacks such as snacks made from beef, turkey, and pork.

Following the increasing demand, in 2021, a popular firm in the US meat market Cherkizovo Group launched its meat snack products in three groups: pork, chicken, and turkey snacks. These items were made from dried and cured meat.

2.Factors influencing the rise of meat snacks products in the US

• The US meat market which is all-time high at the moment is expected to grow significantly in the next five years. With the high demand for meat snacks, the market is projected to grow 4.5 % annually from 2023-2028.
• There are a number of reasons behind the significant growth of this market. Such as convenience and portability they provide. Meat snacks like sticks and beef jerky are dried products that make them easy to carry and can be consumed anywhere.
• Other factors are nutrition value, flavor variety, and the rise of e-commerce. Meat snacks offer a source of essential nutrients such as protein, vitamins, and minerals. This dietary profile offers to those looking for a satiating and energy-boosting snack.
• Meat snack brands offer a diverse extend of flavors and taste profiles, catering to different customer inclinations. This assortment energizes repeat buys and experimentation.
• The development of online shopping and e-commerce stages has broadened the availability of meat snacks to customers, making it simpler for them to buy their preferred items.

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3.Key players in the Meat Snacks Market in the US

• At the moment the US has the majority of the share in the world’s total meat snacks market. With the largest market for meat snack products, the US has a more than 20 key players that are operating in the competitive Meat market of the country.
• Conagra Brands, Jack Link’s Protein Snacks, Oberto Sausage, and Hormel Foods Corporation are some of the leading firms in the US meat snack market.
• Recently Conagra Brands announced the acquisition of Thanasi Foods LLC, known for making Duke’s meat snacks. This purchase will help them restructure their products and make them modern as well as premium.
• Jack Link’s protein Snacks are also planning to launch new products such as Beef Sausages, Steak Bites, and Cold Crafted Link ich. These items will be available in a variety of tastes and flavors according to consumer preference.

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4. Future of Meat Snacks Market in the Country

• US meat market is expected to reach $160 Bn by the end of 2028. With increasing market demand the number of meat snack consumer are also expected to grow significantly.
• As of 2020, 128 Mn Americans consumed meat snacks and other meat items, one of the highest in the world.
• Americans are considered the heaviest consumers of meat worldwide. Currently, the fifth largest meat eaters in the world.

Conclusion

The US meat snacks market has experienced critical development and recuperation post-pandemic, driven by the rising demand for healthy and convenient meat-based items. With buyers progressively embracing hectic ways of life, portable snacks like sticks, jerky, and sausages have ended up well-known choices due to their high protein substance. Convenience stores play a vital part in driving dried meat snack sales, with traditional jerky brands and specialist meat snacks picking up traction among customers. The market is anticipated to proceed its upward direction, anticipated to develop emphatically in another five years. Key players, such as Conagra Brands and Jack Link's Protein Snacks, are effectively growing their item offerings to cater to advancing customer preferences. As the market develops, the US meat snacks industry is likely to stay dynamic and profitable.

Sculpting the Future: Unveiling Saudi Arabia's Dynamic Fitness Frontier: Ken Research

 Storyline

• Booming Fitness Scene: Saudi Arabia hosts 28+ organized and numerous unorganized fitness centers, driven by industry growth.
• Competitive Diversity: Fragmented competition focuses on price, facilities, training, and brand loyalty, varying across cities.
• 4Entry Hurdles: High establishment costs, land, professionals, and equipment deter new entrants, favoring established players.
• Evolving Trends: Emerging women's fitness, personalized training, value-added services, and broader customer outreach shape the industry's future.
• As per Ken Research, Saudi Arabia's fitness industry presents a blend of challenges and opportunities. The competition, though fragmented, is fierce, driven by factors ranging from prices to amenities.

1. Fragmented Competition and Industry Growth

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Within this ever-growing landscape, competition takes on various dimensions. Fitness establishments are eyeing for attention viz pricing models, facility offerings, specialized training regimens as well as a wide spectrum of services. However, a major part of this competition is the fragmented nature, coming from the substantial number of players vying for a piece of the fitness market.

In the heart of this competitive dynamic is the presence of numerous unorganized fitness centers. This multitude of independent establishments contributes to the sector's fragmented nature, which can sometimes result in varying standards of service delivery and customer experiences.

The surge in the number of fitness centers, spanning both organized and unorganized entities, underscores the escalating significance of health and wellness within Saudi Arabia. As the industry continues its evolution, the differentiation of offerings, emphasis on tailored customer experiences, and the integration of innovative approaches are set to define the trajectory of the fitness sector.

KSA Fitness Services Market Trends

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2. Competitive Landscape and Strategies

Brands in the fitness industry in Saudi Arabia engage in competition based on various factors. Price, membership offers, center facilities, personal training, ambience, services offered, and locations all contribute to the competitive landscape. The existing players, especially prominent ones, possess strong brand loyalty due to safety concerns linked to equipment usage, posing a challenge for new entrants. Establishing comprehensive fitness centers with a range of services including spas, pools, steam baths, and more has limited businesses geographically.

KSA Fitness Services Growth Strategies

 3. Future Outlook and Focus Areas

The industry's future outlook necessitates attention to the emerging women's fitness segment in Saudi Arabia. The customization of workouts and personal training programs is anticipated to become prevalent. As fitness brands target broader customer segments, they offer value-added services like freezing memberships, couple discounts, locker rooms, showers, saunas, and spa facilities. These offerings are expected to increase penetration rates across the country.

KSA Fitness Services Market Future Trends

Conclusion

As per Ken Research, in conclusion, Saudi Arabia's fitness industry presents a blend of challenges and opportunities. The competition, though fragmented, is fierce, driven by factors ranging from prices to amenities. With increasing brand loyalty and a shifting market landscape, the industry's trajectory will likely be influenced by innovation, customer preferences, and the drive to cater to a diverse consumer base.

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KSA Fitness Services Market

IBM Security is holding a strong promising position in the US Security Testing Market; can it keep its dominance? : Ken Research

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The International Business Machine Corporation (IBM), is a multinational technology company excelling in security testing with inclusion of protocols such as cloud testing, Iot testing and many more. With a market value of ~US $60 Bn, this giant has been leading this sector.

STORY OUTLINE

• With comprehensive range of security testing solutions, the IBM Security is flushing the threats with ease.
• With newer Advanced Threat Intelligence, assisted with Cloud Security, IBM Security has been updating its own measures.
• The IBM Security is now taking automative measures, with AI and Machine Learning sitting on the roots and analyzing every situation.
• With focus on Zero Trust policy, IBM is making its own inner environment much more stringent in its policies and secured.

1.With comprehensive range of security testing solutions, the IBM Security is flushing the threats with ease.

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• With the advancements in security testing, IBM introduces vulnerabilities assessment and penetration testing to the system.
• IBM Security has incorporated Real-Time Threat detections, rendering and responding to threats as they happen in real time.
• With the adoption of new Security Information and Event Management (SIEM) solutions, IBM QRadar allows to gather information about multiple threats from various sources, to be ready for any unforeseen threat that may be impending.
• IBM offers Identity and Access Management (IAM), resulting in a greater amount of user identity checks, authentication checks etc.

According to Ken Research, the IBM Securities has been making several changes, leading to a drive in force leading to the upgraded technologies and advanced follow ups, leading to a much secure server and database mainframes. With more and more cybersecurity threats arising, the threat response system gets better with it. With deep Machine Learning, every time some new breach in the firewall occurs, the security system upgrades to become better than its previous model and with Artificial Intelligence is sitting on the top, more new initiatives and protocols are being come up with. With this the IBM Security is currently leading with a market value of ~US $60 Billion.

2.With newer Advanced Threat Intelligence, assisted with Cloud Security, IBM Security has been updating its own measures.

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• With the introduction IBM X-Force Threat Intelligence, newer valuable insights about impending newer threats are received.
• IBM Cloud Park has become the hub for addressing security challenges in cloud environment and related connected devices.
• With the ability to integrate with other systems in the IT sectors, advanced scouting of groups of threats, even if different types, can be scrutinized easily and removed.
• 67% of backdoor cases (ransomware attacks) were failed attacks as the defenders were able to disrupt the backdoor entry even before the initiation was made.

3.The IBM Security is now taking automative measures, with AI and Machine Learning sitting on the roots.

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• The introduction of the company’s leading AI platform, called Watson, makes necessity driven changes resulting in a fully secured mainframe.
• IBM MaaS360, a Unified Endpoint Management (UEM) Solution which is fueled by the Artificial Intelligence to help secure and manage mobile devices.
• IBM Guardium is such a tool that uses not only AI, but also deep Machine Learning resulting in prevention of breach and unauthorized access.
• With the introduction in newer Behavioral and Predictive analysis, the IBM Security can scoop out preferential threat scanning the individual’s behavior.

4.With focus on Zero trust policy, IBM is making its own inner environment much more stringent in its policies and secured.

• With Zero-Trust policy, a Granular Access Control is given, deeming the least privileges for every working employee.
• With such stringent regulations, Multi-Factor Authentication (MFA) has become a core component of the policy, making multiple verification processes, scanning each person with high priority basis.
• Zero-Trust promotes Micro-Segmentation, allowing the splitting of networks into smaller fractions with very strict access, preventing attackers to move in between networks.
• A continuous monitoring has to be done in order to maintain the secured mainframe and must have to capability to detect problems in a very fast manner.

CONCLUSION

With major changes in the global cybersecurity threats, the cybersecurity department is rising with it. More and more advanced and complex encrypted protocols, algorithms and policies, making changes in both technologies and employee policies, rendering them with lesser privileges than before, ensuring no loss of information is happening from inside of the company.