Future Growth of Global Smart Dishwasher Market: Ken Research

 Major players in the smart dishwashers market are Samsung, BSH, GE, Whirlpool, LG, Electrolux, Miele & Cie, Robert Bosch GmbH, Panasonic, and Haier Group Corporation.

The global smart dishwasher market is expected to decline from USD 6.72 billion in 2019 and to USD 6.55 billion in 2020 at a compound annual growth rate (CAGR) of -2.61%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 8.00 billion in 2023 at CAGR of 6.9%.

The smart dishwashers market consists of sales of smart dishwashers and related services that are used in commercial and household. A smart dishwasher is a linked smart home appliance (such as a smart microwave or smart oven) that gives your regular dishwasher enhanced features, such features can include Wi-Fi access and options for versatility such as voice control from an activated virtual home assistant and mobile controls.

North America was the largest region in the smart dishwasher market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.

The Wi-Fi enabled smart dishwashers is a key trend in the smart dishwashers market. The Wi-Fi enabled dish washer allows owners to manage the cleaning process, enabling them to begin and track cycles remotely via phone or tablet. For instance, LG Wi-Fi enabled smart dishwashers come with built-in Smart ThinQ technology that provide mobile alerts when a process is over. The Smart ThinQ technology is integrated with Google Assistant and Amazon Alexa, and therefore the status can be checked through voice commands without the requirement of any manual activities. In 2020, Whirlpool has introduced Whirpool WFC3C24PUK dishwasher with the company's 6th Sense Technology that uses sensors to detect how dirty the plates are and change the settings accordingly. The wi-fi enabled smart technology dishwashers deliver excellent cleaning results with time, energy & water savings.

The smart dishwashers market covered in this report is segmented by type into small size freestyle smart dishwashers, large-scale freestyle smart dishwashers and by applications into household, commercial.

The high repair cost is a key factor hampering the growth of the smart dishwasher's market. Each brand, for instance Samsung, Whirlpool, Bosch, among others, has different manufacturing costs for replacement parts and that can have a drastic effect on repair bill. The shipping of the required part might be expensive and time-consuming as well. Also, the repair cost depends on the issues such as faulty codes, faulty motors, drainage, and worn gasket. Therefore, the high repair cost is expected to hinder the growth of the smart dishwasher's market.

In June 2018, Whirlpool Corporation, a USA based company, manufacturers and marketers of major home appliances in the country, acquired Elica PB India Private Limited for Rs 180 crore in an all-cash deal. Through this acquisition, Whirlpool aims to expand its portfolio of innovative products with Elica's impressive capabilities in consumer insights, design, and manufacturing and also broaden its distribution. Elica PB India Private Limited, an Electrical and Electronic Manufacturing company located in Maharashtra.

The increasing importance of kitchen renovation or remodelling is a key factor driving the growth of the smart dishwasher's market. Changing lifestyles and preferences of consumers due to rapid urbanization is resulting in kitchen renovation or remodelling. The interest to create a modular kitchen is leading to the rapid growth of clever kitchen appliances such as cooking utensils, cookery and dishwasher. According to Hamerville Media Groupn, the proliferation of smart dishwasher's in U.K and Germany stood at 43.1% and 54.9% respectively in 2018. Therefore, the increasing importance of kitchen renovation or remodelling is expected to drive the growth of the smart dishwasher's market.

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Future Growth of Global 3D Printed Medical Prosthetics Market: Ken Research

 Major players in the 3D printed medical prosthetics market are 3D Systems Corporation, Stratasys Ltd., Envision TEC, Bionicohand, and You Bionic.

The global 3D printed medical prosthetics market is expected decline from USD 0.07 billion in 2019 and to USD 0.64 billion in 2020 at a compound annual growth rate (CAGR) of -8.26%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 0.095 billion in 2023 at CAGR of 13.81%.

The 3D printed medical prosthetics market consist of sales of 3D printed medical prosthetics devices and related services. 3D printing technology is used to create an artificial three dimensions physical object with the help of computer-aided design, and these prosthetics are intended to help patients with missing or defective body parts to restore normal functions.

Companies in the 3D printing prosthetics market are focusing on development of waterproof prosthetic devices. The aim behind this innovation is to provide the user with an increased range of mobility, especially in athletics. In April 2017, north well Healthcare announced a product called "FIN" which is a 3D-printed prosthetic leg attachment to give amputee swimmers the ability to navigate from land to the water and back. Similarly, in 2015, Standard Cyborg, a California-based company, developed a 3D printed waterproof leg prostheses. These devices allows the amputees to move between land and water easily, thus broadening the range of activities amputees can perform without damage to prosthetics.

The 3D printed medical prosthetics market covered in this report is segmented by material into polypropylene, polyethylene, acrylics, polyurethane. It is also segmented by type into sockets, limbs, joints, covers, others and by end-user into hospitals, rehabilitation centers, prosthetic clinics.

The delay in elective procedures attributing to the coronavirus outbreak is to act as a major factor to limit the growth of the 3D printed medical prosthetics market. Many countries and hospitals have diverted their healthcare resources to deal with COVID-19 patients. For instance, according to the Centers for Medicare & Medicaid Services (CMS) safety guidelines released in March 2020, all the elective and non-essential surgical, dental, and medical procedures are delayed in the USA during 2019 Novel Coronavirus (COVID-19) outbreak. Hence, the delays in surgical or elective procedures are projected to decline the demand for 3D printed medical prosthetics market in the near future.

The rising number of accidental injuries is driving the growth of the 3D printing prosthetic devices market. Accidental injuries can cause serious damage to a person, and these injuries can sometimes lead to amputation. In 2016, motor vehicle crashes in the US resulted in the death of 32,719 and injuries in over 2.3 million people. According to a report from National Centre for Health Statistics, in 2018, approximately 50,000 new amputation cases come up each year in the US. Increase in incidences of other medical conditions such as diabetes and vascular diseases is also leading to a rise in amputation cases, thus boosting the sales of 3D printing prosthetics. For instance, according to a report published in the American Journal of Managed Care, it was estimated that, globally, one patient leg is amputated in every 30 seconds and around 85% of these amputations were result of a diabetic foot ulcer.

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Global Rubber Latex Thread Market Research Report: Ken Research

The report forecast global Rubber Latex Thread market to grow to reach xxx Million USD in 2019 with a CAGR of xx% during the period 2020-2025.

The report offers detailed coverage of Rubber Latex Thread industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Rubber Latex Thread by geography. The report splits the market size, by volume and value, on the basis of application type and geography.

First, this report covers the present status and the future prospects of the global Rubber Latex Thread market for 2015-2025.

And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Oceania], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].

At the same time, we classify Rubber Latex Thread according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.

Finally, the report provides detailed profile and data information analysis of leading Rubber Latex Thread company.

Key Content of Chapters as follows (Including and can be customized):

Part 1:

Market Overview, Development, and Segment by Type, Application & Region

Part 2:

Global Market by company, Type, Application & Geography

Part 3-4:

Asia-Pacific Market by Type, Application & Geography

Part 5-6:

Europe Market by Type, Application & Geography

Part 7-8:

North America Market by Type, Application & Geography

Part 9-10:

South America Market by Type, Application & Geography

Part 11-12:

Middle East & Africa Market by Type, Application & Geography

Part 13:

Company information, Sales, Cost, Margin etc.

Part 14:

Conclusion

Market Segment as follows:

By Region

Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Oceania]

Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]

North America [United States, Canada, Mexico]

Middle East & Africa [GCC, North Africa, South Africa]

South America [Brazil, Argentina, Columbia, Chile, Peru]

Key Companies

Rubberflex(MY)

Heveafil(MY)

Thai Rubber Latex Corporation (TH)

Longtex Rubber Industry (TH)

Thai Filatex Public Company (TH)

H.V.Fila(TH)

Rubfila International (IN)

Rondex Thailand (TH)

Fintex(PK)

Abhisar Buildwell(IN)

Filatex-VCT(IN)

GuangDong GuoXing(CN)

Hainan Rubber Group (CN)

Anhui Carsem Latex Silk (CN)

Market by Type

Ordinary type (20#-51#)

Medium thin type (52#-80#)

Thin type (Exceed 80#)

Market by Application

Textile and Clothing

Food Industry

Industrial

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Global Flavoring Syrup and Concentrate Market Research Report: Ken Research

 Asia Pacific was the largest region in the global flavoring syrup and concentrate market, accounting for 34% of the market in 2019. North America was the second largest region accounting for 27% of the global flavoring syrup and concentrate market. Africa was the smallest region in the global flavoring syrup and concentrate market.

Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors. Health concerns of consumers is increasing the sales of products with natural ingredients, additives and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015.

Food and Beverage manufacturers should look to gain a stronger foothold in the increasingly popular healthy food products segment, either by introducing products with natural additives and coloring agents or by acquiring smaller firms that produce products with natural ingredients.

The flavoring syrup and concentrate market consists of sales of flavoring syrup and concentrate by entities (organizations, sole traders and partnerships) that produce flavoring syrup drink concentrates and related products for soda fountain use or for the produce of soft drinks. The companies in the flavoring syrup and concentrate industry process raw materials into flavoring syrup and concentrate, package and distribute them through various distribution channels to both individual customers, soft drink producers and commercial establishments.

The global flavoring syrup and concentrate market is expected to grow from USD 50 billion in 2019 to USD 51.1 billion in 2020 at a compound annual growth rate (CAGR) of 2.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach USD 61.8 billion in 2023.

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Related Reports:-

Flavoring Syrup and Concentrate Manufacturing Global Market Forecast to 2022

Global Flavoring Syrup and Concentrate Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027

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Future Growth of Global Hostels Market: Ken Research

 Major players in the hostels market are Hostel world, Hostelling International, Green Tortoise Hostel, London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN, Cloud beds, A&O Hotels and Hostels, and OPERA Property Management System (PMS).

The global hostels market is expected to grow from USD 6.08 billion in 2019 and to USD 6.13 billion in 2020 at a growth rate of 1%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach USD 7.5 billion in 2023 at CAGR of 6.8%.

The hostels market consists of sales of hostels and related services. A hostel can be described as a kind of budget-friendly shared accommodation that has a common area. Hostels typically have dorm-style rooms for travelers, but private rooms and hotel-like facilities are also available nowadays. Hostels prefer to concentrate on building a sociable atmosphere and are much less costly than a hotel.

The introduction of hybrid hostels is a key trend in the hostels market. To satisfy young urban professional travelers, hybrid hostels combines the affordability and sociability of dorm-accommodation with the upscale facilities of traditional hotels. Stay Hybrid Hostel is centrally located in Thessaloniki, near the Ladadika and Valaoritou areas, every room at Stay Hybrid Hostel is air-conditioned, with exclusive music references. Personal rooms with personal facilities, tables for beds, a small desk, a wardrobe and a flat-screen TV, the vibrant Aristotelous Square is only 601 meters away, from where guests can enjoy fantastic sunset and views of the Thermaikos Gulf.

Misconceptions held by the population is the major factor restraining the hostels market. There are many misconceptions held about hostels globally, that often lead to people create a negative opinion on them. Generally, people assume hostels are only for young people, some feel that the hostels are unhygienic, and they're not safe. In addition, people who had bad experience in hostels have generalized the notion for all the hostels and refrain from using them. Such misconceptions limit the growth of the hostels market.

The greater spending by millennials (aged 18-35) is a key factor driving the growth of the hostels market. Due to low cost, good value, experience-based accommodation, convenient places, and opportunities to meet other travelers' millennials are opting hostels. More than 70% of hostel travelers are millennials, of whom 15% have spent the last 12 months in a hostel. In the U.S., 85% of millennial hostel travelers have taken a foreign trip in the past 12 months-compared to just 33% of all U.S. leisure travelers. The hostel industry has seen strong growth driven by millennial travelers (aged 18-35) looking to spend more money on longer trips and see the world as much as possible.

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Increase in Security Concerns Expected to Drive Global Electric Webcams Market: Ken Research

Electric webcam is an electric video camera, which is attached to the laptops, desktops or in-built in hardware. It is generally made up of lens and image sensor. It also includes one or two microphones for superior sound quality. It is used to stream an image or video in the real time through a computer network like internet. It is deployed with the high-resolution quality, which is used to provide the high-quality audios & videos. Its main feature is to enable the users to record audio & video for future purposes. It is mostly used at workstations to connect with employees or colleagues who are working in different locations.  It is also utilized for video conferencing between two or more individuals, which reduces the business travel across various countries. In addition, electric webcams are also used for numerous applications such as healthcare, security cameras, laser beam profiling, augmented reality (AR), input control devices, astro photography, and others. Therefore, increase in application of electric webcams has accelerated the demand for electric webcams in the market.

As per analysis, “Global Electric Webcams Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global electric webcams market include Kinobo, Microsoft, Teng Wei Video Technology Co., Logitech, Philips, NEXIA, HP, A4Tech, D-Link, Ausdom, KYE Systems Corp(Genius), TeckNet and among others.

Based on type, electric webcams market is bifurcated as complementary metal oxide s

emiconductor (CMOS) and charge coupled device (CCD). In addition, based on application, market is bifurcated as automobile, video conference, remote medical and others. The electric webcams market is driven by growth in security concerns & awareness about security devices, followed by rise in demand from government agencies & individual consumers, steep decline in average selling price of webcams and growth in penetration of teleconferencing & virtual meetings. However, increase in cases of webcam hacking (privacy concerns) and poor internet penetration in developing countries may impact the market.

COVID-19 or Corona Virus pandemic is projected to drive the growth of electric webcam market throughout the forecast period. This is due to rise in demand for electric webcams from government or corporate sector for surveillance & security purposes. These corporate or government sectors are enforcing employees to follow the social distancing and are likely to use the electric webcams to ensure the safety of premises & employees. Further, increasing webinars & meetings while working from home have positively impacted the sales of electric webcams. The governments of affected countries announced nationwide lockdown and mandated individual to maintain the social distancing. Governments are also using these webcams to monitor the individual’s activities during lockdown to ensure that rules are being followed.

Based on geography, the North-America, followed by Europe region holds major share in global electric webcams market owing to rise in need for security coupled with rapid developments under smart city initiatives across the region. The Asia-Pacific region is expected to witness higher growth rate caused by government-led installations of webcams coupled with presence of several local vendors over the forecast period. It is predicted that future of the global market will be bright as a result of increase in connectivity & higher adoption of internet services during the forecast period.

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Rise in Demand from Automotive Industries Expected to Drive Global Discrete Inductors Market: Ken Research

Inductors are special components designed to resist the changes and are used for storage of energy in the form of magnetic field. They are also referred to as passive electronic component. They are electric devices consisting of single & multiple loops of wire and typically have two terminals. Change in the magnetic field induces the voltage that opposes the field-producing current which is identified as inductance. They are connected to a circuit to enhance the inductance to a desired value. The inductance of discrete inductor is dependent on the number of loops of copper wire around the metal or air and radius of the copper coil.

The availability of various inductors makes it challenging to select the accurate inductor as per application. Selection of the precise inductor is done depending upon the application & design of the electronic circuit. Current rating, Performance, cost, and size are also some of the main factors considered while selecting an inductor for an application.

As per analysis, “Global Discrete Inductors Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global discrete inductors market include Pulse Electronics, TT Electronic, Yageo, Murata, API Delevan, Vishay, Taiyo Yuden, Gowanda Electronic, Chilisin Electronics, Shenzhen Sunlord Electronics, Panasonic, TDK, Coilcraft, Laird Technologies, Fair-Rite, NEC-TOKIN and among others.

Based on type, discrete inductors market is segmented as deposited coils and wire-wound coils. Wire-wounded coils comprises of a wire with the high resistance wound in a coil around the cylindrical core of insulating material. In addition, based on application, market is segmented as noise control and elimination (LC Filter), energy storage & voltage stabilization and energy storage & voltage stabilization.

The discrete inductors market is driven by rise in trend of smart cities and smart homes, followed by growth in innovations & developments in consumer electronic products and rise in demand from automotive industries. Apart from this, longer lead time of inductors and fluctuating prices of raw materials are major hindering factors for market. Moreover, rise in adoption of electric vehicles, increase in demand for wireless and connected devices and growth in inception of 5G technology are key opportunities for market. Furthermore, advancements in telecommunication & integration of integrated chip are major trend for market.

Based n regional analysis, the North-America holds major share in global discrete inductors market owing to rise of deployment of smart grids & automotive and growth in demand for compact power efficient & light weight devices across the region. The Europe and Asia-Pacific regions are likely to witness higher CAGR due to growth in urbanization, rapid industrialization, and increase in disposable income of the population in the emerging economies over the forecast period. China is the major source of demand for discrete inductor components in the present market scenario, due to rapidly growing semiconductor industry along with automation in the industrial sector. It is estimated that future of the global discrete inductors market will be bright as a result of increase in complexity in mobile devices during the forecast period.

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Future Growth of Global Electric Bikes Market: Ken Research

 Major players in the electric bikes market are Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Trek Bikes, Mahindra & Mahindra Ltd., BionX International Corporation., JIANGSU XINRI E-VEHICLE CO., LTD., Robert Bosch GmbH, Derby Cycle Holding GmbH, and Panasonic Corp.

The global electric bikes market is expected to grow from USD 18.88 billion in 2019 and to USD 19.17 billion in 2020 at a growth rate of 1.54%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach USD 24.52 billion in 2023 at CAGR of 8.56%.

The electric bikes market consists of sales of electric bikes and related services for transportation purposes. The electric bike has an integrated electric motor, pedals and rechargeable batteries for forwarding propulsion. Rechargeable batteries vary according to the voltage, total charge capacity (amp hours), weight. Depending upon motor and rechargeable battery used in E-bikes its prices vary accordingly.

Asia Pacific was the largest region in the electric bikes market in 2019.

The companies operating in the electric bike market have started implementing artificial intelligence to increase the efficiency of electric bikes. Artificial intelligence is being used to provide features such as swipe start, geotagging, real-time battery checking and antitheft features. Following the trend, in 2019, Revolt launched its RV 400 electric bike in India equipped with AI capabilities. The bike when charged for 4 hours can travel up to a distance of 156km.It allows connectivity with android and IOS phones to enable the user to check the range, total riding hours and real-time diagnostics. Thus, the major players in the industry are investing towards the trend of implementing AI in e-bikes.

High purchase cost and maintenance cost of electric bikes (E-bikes) are expected to limit the growth of the E-bikes market. E-bike has an integrated electric motor and rechargeable batteries for forwarding propulsion. E-bikes are expensive because of their battery and motor installed in it. According to eBikesHQ article, E-bikes range in cost between USD 600 to over USD 8000 which is not an affordable option for a lot of people in developing countries. Moreover, E-bikes average battery replacement cost is between USD 350- USD 450. This increases the overall operating cost of E-bikes making it hard to be maintained by users. Therefore, high purchase costs and maintaining the cost of E-bikes are expected to limit the growth of the E-bikes market.

Government subsidy on the sale of Electric bikes (E-bike) is acting as a major growth driver for the E-bike market. E-bike has an integrated electric motor and rechargeable batteries that reduces pollution by eliminating carbon dioxide emissions in the environment. Therefore, various government and non-governmental agencies are augmenting the sales of electric bikes by providing incentives and subsidies on the purchase of E-bikes. For instance, in 2015 the Indian government announced an incentive scheme named Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the incentive scheme of FAME II, in 2019, government provides a subsidy of up to INR 10,000 for the purchase of electric scooters/electric bikes buyer. Thus, government subsidies and incentives are increasing the growth of the E-bikes market.

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Global Electric Bikes Market

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Global Electric Bikes and Folding Bikes Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

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Future of Global Wearable Payments Market: Ken Research

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The wearable payment is a safe & secure payment process for clients to buy the products by using advanced technology integrated in their wearable devices. It is also known as tap-and-go payment method by various organizations and retailers as it provides retailers and vendors with more secure & error-free payment method.

As per analysis, “Wearable Payments Market: Segmented By Technology Type (Barcode, Contactless Point of Sale (POS), Near-field Communication Technology (NFC), and Radio Frequency Identification (RFID)), By Device Type: (Smart Rings, Fitness Tracker, Smart Watches, and Others), By Application: (Festival & Life Events, Fitness, Healthcare, Retail, Transportation and Others) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” the key companies operating in the global wearable payments market include Visa Inc., Samsung Electronics Co. Ltd., Mastercard, Google Inc., Jawbone, Visa Inc., Alibaba Group, PayPal Inc., Fitbit Inc., Apple Inc., Barclays Plc. and among others. Major companies have adopted various strategies for instance product portfolio expansion, agreements, geographical expansion, mergers & acquisitions, and collaborations to enhance their market penetration and reinforce their position in the industry.

Based on technology type, wearable payments market is segmented as Contactless Point of Sale (POS), Radio Frequency Identification (RFID), Barcode and Near-field Communication Technology (NFC). Barcode technology segment dominates the global market as it helps customers to check their products easily when shopping and also helps retailers to escape the requirement for a conventional & permanent point of sale. Based on device type, market is segmented as fitness tracker, smart rings, smart watches and others. Smart watches segment is projected to exhibit substantial growth rate due to rise in demand for wireless fitness & sports devices, growth in technological advancements in smart-watch and, surge in health awareness among users during the forecast period. In addition, based on application, market is segmented as retail, fitness, festivals & life events, healthcare, transportation and others. Retail segment is also projected to exhibit substantial growth rate due to rise in demand in local businesses, markets, and e-commerce for cashless payments during the forecast period.

The wearable payments market is driven by surge in demand for wearable devices along with contactless payment for secure & safer payment transaction, followed by enhanced customer experience offered by wearable payment mediums, increase in adoption of cashless payments. However, limited battery life of wearable devices and high cost of wearable devices may impact the market. Furthermore, surge in usage of radio frequency identification (RFID), near-field communication technology (NFC), and host card emulation technology in wearable payments is a key opportunity for market.

Based on geography, the North-America holds major share in global wearable payments market owing to presence of prominent stakeholders coupled with growth in development of smart devices with tracking & payment characteristics across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to growth in investments from the private & public players and expansion of the IT infrastructure over the forecast period. It is anticipated that future of the global wearable payments market will be bright on account of high penetration of contactless payments in emerging economies during the forecast period.

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Global Wearable Payments Market Growth Rate

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Global Organic Farming Market Research Report: Ken Research

 Major players in the organic farming market are Dow Chemical Company, BASF SE, Solvay SA, Akzo Nobel N.V, Nalco Holding Company, and Bayer AG.

The global organic farming market is expected to grow from USD 88.79 billion in 2019 and to USD 95.90 billion in 2020 at a compound annual growth rate (CAGR) of 8%. The growth is stable across many countries due to the COVID-19 outbreak and the extending lockdown as a measure to contain it, however, strong growth is registered in USA even during the lockdown. The market is then expected to recover and reach USD 131.55 billion in 2023 at CAGR of 11.11%.

The organic farming market is associated with the sales of produces by farms that produce them in organic ways. The organic farming is an alternative form of farming for crops and livestock's produce which doesn't use pesticides, artificial fertilizers, genetically modified organisms and antibiotics to increase the production. This has many benefits to the environment and the individuals using these yields.

North America was the largest region in the organic farming market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.

Less productivity of organic food is expected to hinder the organic farming market. According to the USDA 2018 data and many other studies, the yield of organic farming is significantly less compared to the conventional farming. So, the latter is preferred to organic farming to ensure food security as organic farming is expected to cause a scarcity due to lower yield. It doesn't meet the needs of rising population and thereby doesn't meet the definition of food security by the Food and Agriculture Organization of the United Nations (FAO). The less productivity of organic farming therefore is expected to hinder the market.

The organic farming market covered in this report is segmented by farming type into pure organic farming; integrated organic farming and by method into crop diversity; soil management; weed management; controlling other organisms.

In December 2019 Young living essentials a North American based essential oil company who is a world leader has initiated a new partnership with Golden Einkorn Farm. By this partnership Golden Einkorn Farm supplies its ancient einkorn grain to young essentials and also supports its movement towards sustainability thereby being environmentally responsible. Golden Einkorn Farm is 600 acre France based family farm which produces einkorn grain and uses rainwater for irrigation, organic mater as manure instead of artificial fertilizers, uses solar energy and other sustainable methods with an aim of zero wastage.

Environmental gain from organic farming is expected to drive the organic farming market. Organic farming is highly beneficial to the environment as it does not use any chemical fertilizers or pesticides that cause soil and groundwater contamination. Also, the usage of non-renewable resources that are needed for the development of such artificial fertilizers is less. Organic farming preserves biodiversity of the soil. According to the Organic Trade Association 2019 report, if every U.S. farmer switched to organic farming, annually nearly 500 million pounds of residual and toxic pesticides can removed from getting into the atmosphere. The use of organic products also have a beneficial impact on the health of organic growers, assistants, their families and customers, as they are less exposed to harmful chemicals. Therefore environmental benefits of organic farming coupled with health benefits of organic products is increasing the demand for organic food (food produced through the process of organic farming) which in turn is driving the market for Organic farming.

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Global Organic Farming Market

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Global Organic Farming Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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