4 Key Insights from the India Skilling Industry Future Outlook, a snippet from a report: Ken Research

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India is considered to be the 2^nd Fastest Growing Freelance Market in the World.

1. Stronger Impetus towards Already Fast-Growing Ed-Tech Adoption among Working Professionals & Graduates in India

Click to Read Article: Top players providing online teaching platforms

• COVID-19 accelerated Trend in adoption of Online Learning in India. education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms.
• Research suggests that online learning has been shown to increase retention of information, and take less time, meaning the changes coronavirus have caused might be here to stay.
• Even before COVID-19, there was already high growth and adoption in education technology

2. Youth employed in full-time jobs are most willing to take up freelance work in the future

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• 78% of India's working youth who held 0-1 job in the last five years and are willing to take up freelance work.
• 84% of India's working youth who held 2-3 jobs in the last five years and are willing to take up freelance work.
• 86% % of High-earners (earning more than ₹20,000 a month) inclined towards freelance work.

3. Freelance Workers (Gig workers) could Reshape India’s Future Job Market Landscape

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• GIG Workers taking skilling courses with time to enhance their skill set as companies (such as EY) have a database of a few 100 freelancers whom they hire regularly for various projects.
• Major IT firms like TCS, Infosys and Microland, hire independent consultants regularly at all levels for multiple projects.
• Top paying gig jobs: Content Writing, Translations, Creative works, Recruitment, Sales, Digital Marketing, Branding, Software Development, Architecture, Building Information Modeling, Accounting, Data Analytics, Consulting, Counseling etc.

4. Technical skills are the trends in the market, but nowadays, youth are brushing up their soft skills and are more eager to learn them through various agencies

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• Technical Skills - Overcrowded with presence of 80+ Edtech players; 2-3 players added every yr. 75% of programs on SPOC platforms are technical/ IT courses.
• Soft Skills - Few 5-6 Verticalized edtech players. Frag. among MOOCS and Corporate training corporations.

Digital disruption: the way forward for Malaysia Used Car Market: Ken Research

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The global pandemic had impacted the automotive industry all over the globe and Malaysia is no exception. However, the used car market has seen a positive increase in sales due to factors such as low income, a lack of money, and a rising preference for private cars to maintain social distancing. As a result, the used car industry is growing at a CAGR of ~6% during the years2015 and 2021. The sector for used cars in Malaysia is expected to witness steady growth in the coming years as well, but this time, digital disruption will have a key role to play. Find out how digital media will help the used car market in driving sales and flourish in Malaysia.

1. The Used car industry in Malaysia is amongst the most significant contributor to the Country’s economy

1.1 …aided by a growing population and rapid migration to urban areas that has caused an increase in demand for personal vehicles

2.  Presently, the industry is in the late growth phase with the increased popularity of online players and the entry of OEM-certified dealers

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3. The increasing presence of Multi-brand & OEM-certified dealerships and easy financing options have contributed to Industry’s growth

4. Used car dealers try to attract customers with additional discounts and After sales services

5.  Here, majority of the cars are sourced by the dealers from individuals and auction houses

6.  Social media plays a major role in generating leads for dealers & end consumers by virtue of offering advertisements at a lower cost with respect to other traditional marketing channels

7.  Consumers are shifting away from traditional methods & increasingly using online platforms for buying used cars which acts as an opportunity; lack of warranty online remains an issue

8.  Owing to digital enablement and additional service offerings, the industry is anticipated to thrive in the future

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Malaysia Used Car Market

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Due to COVID-19, the Malaysian Ophthalmology Market Revenue declined by 7.3% in 2020. Will Malaysia be able to recover the lost revenue? Ken Research

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1. With population of 31.9 Mn, Malaysia has 1 Ophthalmologist per 50,000 people

Click to Read Full Article: Malaysia Ophthalmology Market

• There is a dire need of more sophisticated ophthalmologist clinics
• More technological advancement in services provided for ophthalmologist
• Creating awareness regarding ophthalmologist’s need
• More numbers of ophthalmologist’s.

2. Growing Ageing Population proportion increased Number of Eye related clinics across Different Regions

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• Proportion of Population >50 Years

• 27%: Central Region, majorly include Kuala Lumpur Selangor, Negeri Sembilan
• 26%: Northern Region, Major Locations being Pulau Pinang, Kedah Perlis & Perak
• 16%: Southern Region, majorly Melaka and Johor
• 14%: Eastern Region, Majorly include Kelantan, Pahang, Terengganu

Growing Ageing Population proportion across Different Regions resulting in increased Number of Eye related Patients in majorly Selangor and Kuala Lumpur

3. National Eye Database Malaysia has been significant in estimating the vastness of problems related to eye-sight.

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• National Eye Survey, a population based eye survey to be conducted by the Ophthalmology Service of the Ministry of Health (MOH) in collaboration with the Institute of Public Health (IPH) and Clinical Research Centre (CRC) of the MOH.
• Objective of the survey is to estimate the prevalence of blindness & low vision among Malaysians (50 years and older), to assess cataract surgery coverage & identify barriers to access cataract surgery service in the country.

Despite The Pandemic Global Fitness Services Market Is Set to Cross More Than $ 450 Bn in the Coming Five Years: Ken Research

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Global Fitness Services Market which reached a value of more than USD 200 billion in the year 2022. The Fitness service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research.

1. The Global Fitness App Market Is Projected to Reach Almost USD 15 Billion By 2027.

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The market has witnessed an increase in demand in the past few years owing to the growing penetration of smartphones and the emergence of advanced technologies in the healthcare sector. Instead of the typical brick-and-mortar gyms that provide long-term subscriptions, digital-focus gyms with a business strategy of retail locations and online applications appeared to seize this potential in 2022. Since there are no yearly membership costs, anybody may use the gym and the lessons whenever they choose, unlike typical gyms that charge a set upfront amount regardless of use. As a result, technology-enabled gyms that provide both online and offline alternatives are gradually replacing traditional gyms across the globe.

2. Almost 3% of the population globally are gym members: Developed Nations are at the Top.

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The internet has greatly increased the popularity of the fitness movement, especially among younger people. Fitness KOLs are developing and taking on a more important role in encouraging millennials towards a healthier lifestyle as a result of the trend of health and wellness being in line with rising affluence. 22.00% of the population of Sweden and Norway are gym members, the highest penetration rates globally. In a close third, there is the US, with around 21% of Americans are gym members.

3. Fitness Industry Revenue Declined by More Than 55% in 2020: How is The Global Fitness Industry Prospering after COVID-19?

The World Fitness Market expansion was hampered by the coronavirus epidemic, which also constrained the sector's growth. Prior to the pandemic, the market for fitness services was growing, but because of the lockdown, it faced several difficulties. Roughly 30% of fitness club members are expecting to attend three to four days per week, down from approximately 40% pre-COVID-19. The industry is now prospering. The market's expanding growth potential have increased the sector's chances of expansion. The industry has been developing more quickly, and it will continue to expand across the globe.

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Global Fitness Service Market

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How will digital disruption enable Egypt’s Auto Finance Market to achieve double-digit growth by 2027?

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Auto finance industry has seen substantial growth in credit disbursement backed by accelerated population growth, vehicle sales, and a surge in financial penetration. Presently, Egypt Auto Finance Market is growing at a CAGR of 18%, 20216-2022. The sector is driven by Purchasing power of individuals and the risk appetite of the financial service provider. Also, the entry of women drivers has led to an increase in total cars sold, and hence the credit disbursed. However, digital disruption will act as a major catalyst behind the development of the auto finance market in the coming years. Here, we have outlined the key reasons on how digital disruption will help Egypt’s Auto Finance Market to reach double-digit growth by 2027.

1.  Growing population and rapid migration to urban areas is leading to an increase in demand for personal vehicles IN Egypt

2.  In 2021, there were 5.4 Mn cars in use and 53.1 cars per 1,000 people in Egypt, which is expected to increase to 56 cars in operation per 1,000 people by 2025

3.  Customers in Egypt can avail auto loans from Banks and NBFCs with an average loan period of 3-5 years

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4.  Large Public Sector Banks including National Bank of Egypt, Bank Misr, and Banque Du Caire rules over 40.0% of the financial banking system in Egypt

5.  Dominance of unorganized channel and favorable government initiatives has boosted the growth of auto finance industry in Egypt

6.  Growing population, and increasing demand for passenger cars will act as a key strength to the Egypt auto finance market; low internet penetration may affect the market

7.  In the coming years, Digital disruptions will make the industry more efficient and enable the market to expand with double-digit growth

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Egypt Auto Finance Market

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“From Click to Doorstep”: 3 Cutting Edge Technological Trends Boosting the Global Ecommerce Logistics Market to Reach $1 Trillion: Ken Research

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Global Ecommerce Logistics Market was valued at around ~$200 Bn in 2022, boosted by the Covid-19 impact as it helped enterprises to address extensive demand is eyeing to become a $1 Tillion industry by 2027. Let’s explore some of the reasons addressing the same.

1. Increasing digitization and access to smart phones are boosting the Ecommerce market.

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Around 60% of e-Commerce sales are conducted through mobile apps and this general trend is expected to increase in the future. Making brand interaction with the customer much efficient and easy to sell the product to the customer. With 5 Billion people having internet access, this becomes one of the biggest contributor of growth to the ecommerce logistics market.

2. “Accelerating E-commerce Growth”: The Dominance of Digital Payment in Online Shopping Industry.

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Over the past decade, the e-commerce industry has experienced significant growth, with the online shopping becoming increasingly popular among consumers. The global e-commerce sales reached ~$ 4 trillion by 2021, with an estimated 2.14 billion people worldwide make online purchases. With this surge in online shopping comes a corresponding increase in digital payments, which have become the dominant player method in the industry. In 2020, the value of digital payment worldwide was estimated at ~5.12 trillion, which is a major factor the growth in the ecommerce logistics market globally.

3. Buy Now, Pay Later FinTech is giving a major push to the Ecommerce Logistics Market.

According to a report by Forbes, the pace of BNPL growth among Gen Z has increased by 600% since 2019, while it has tripled for Millennials. Although Gen X and Baby Boomer adoption rates aren't far behind, the rise of BNPL among younger generations suggests that it may eventually replace cash as the main form of payment. This is becoming a major factor for the growth in ecommerce logistics market.

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Global Ecommerce Logistics Market

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Feasting on Success: Global Catering Market Hits over $150 Bn in 2022, but Will the Growth Trend Continue Beyond? – Ken Research

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Global Catering Market which reached a value of over $150 Bn in the year 2022. The food service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research

1. Contract Catering is the main revenue generating segment in Global Catering Market.

In the following two years, the global market for contract careering is predicted to expand at a 4.02% CAGR. To provide culinary services for staff, employees, guests, and customers, large-scale organizations such as educational institutions, corporations and industries, hospitals, and event planners utilize contract caterers. Contract catering services include the benefits of increased accountability from the caterer, consumer convenience, and legal compliance with food safety and hygiene regulations. Thus, one of the most widely used categories of catering services is contract catering. According to a survey, more than 50% of respondents stated they would buy things that were made specifically for them.

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2. COVID-19 is one of the most significant threats that the catering industry has ever faced.

The catering industry has been fundamentally threatened by the pandemic caused by COVID-19. The catering companies that survive are the ones that understand how the world will return and plan accordingly. These catering companies started adapting accordingly so they can overcome this challenge, some of these techniques are

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3. The market is expanding as a result of consumers' rising demand for fresher, healthier foods.

Customers' growing preference for fresher, healthier foods is boosting the global catering services market. Catering service providers have shifted their focus to providing healthier meals made in-house with fresh ingredients. Specialized catering services are becoming more popular as global multinational corporations rapidly expand in emerging markets. Catering businesses now offer healthy dining options such as organic meals, a balanced vegan diet, and healthy snacks as a result of the worldwide trend of increasing health consciousness.

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Global Catering Market

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Global Auto Finance Industry set to Skyrocket to $400 Bn by 2027 – is the Industry prepared to Blast off to New heights or will it encounter Turbulence? : Ken Research

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The global auto finance market was valued at USD 250 Billion in 2022 and is projected to grow to USD 400 Billion by 2027, growing at a robust CAGR from 2022 to 2027.  

Amid the COVID-19 pandemic, the global demand for new vehicles and used vehicles witnessed a significant slump in 2020, as manufacturing and sales activities were halted for several months in the first half of the year. However, since the latter half of the year, the demand for vehicles has witnessed significant growth, which has fueled the automotive financing market and is expected to continue to fuel the market during the forecast period.

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1. More than 10 million electric cars were on the world’s roads in 2022 with battery-electric models, driving the expansion of auto finance further

After a decade of rapid growth, in 2022 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2022. China, with 4.5 million electric cars, has the largest fleet, though in 2022 Europe had the largest annual increase to reach 3.2 million. With the rapid expansion of electric vehicles in the automotive sector, the Auto Finance Industry is projected to further see new heights.

2. The car finance sector has been prepared for change for a long time. Could this be the time at last?

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Trends show that consumers will increasingly complete the entire automotive purchase online. About 92% of the population research cars online before making a purchase. By putting all the information online, they are empowering consumers with innovative mobility and transparent financing alternatives. Technology is redefining the automotive sales and finance landscapes. The evolution of such mobility and financing options coupled with increasing regulatory oversight, operational risk management, and consumer expectations are dramatically changing the rules of the road, forcing industry participants to redefine and adapt to their business approaches.

3. Backed by the digitalization of processes in the Auto Finance Sector, Ally Financial is the major player in the Auto finance market

Ally is one of the largest car finance companies in the U.S., providing car financing and leasing for 4.5 million customers and originating 1.4 million car loans annually. The company has sold more than 5 million vehicles, including 270,000 vehicles sold in 2019 via its Smart Auction online marketplace for auto auctions, launched in 2000. Moreover, the digitalization of processes, lowering interest rates, and high geographical presence are a few key reasons behind the company’s success.

4. What is keeping the auto finance market at the forefront? Major collaborations between the Auto finance companies are driving the market further

The auto financing department of Volkswagen AG as well as Ford Motor Company has announced plans to rescind offering credit to new customers and dealers in India. Other deal includes the Mitsubishi UFJ Lease and Finance merging with Hitachi Capital. The companies are planning to expand their operations on a global level to increase their market share. Moreover, Mahindra Financial Services has acquired 58.2% of Sri Lanka-based Ideal Finance with investments worth millions.

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Global Auto Finance Market

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The Future of the AED 17 Bn Pharmacy Retail Industry of UAE. Can the UAE be able to achieve the target? : Ken Research

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UAE Courier, Express & Parcel Market, which surged ahead with over 11.2% year-on-year growth in 2020, is expected to grow almost three times by 2025, as per findings released by Ken Research.  

Due to inherent advantages that make it ideal for becoming a hub for express delivery shipments, the UAE presents itself as an appealing destination for the CEP market. Its consumer demographic is made up of a young, internet-savvy population (91% internet penetration rate in 2020), geographical advantages, and developed infrastructure. This is supported by the presence of high consumer confidence, as well as increasing consumer preferences for online shopping, which has aided the growth of the CEP market. Furthermore, the pandemic's surge in online shopping and E-Commerce products has boosted the CEP market landscape.

Click to Read Full Article: UAE Courier, Express & Parcel Market

1. COVID-19 Impacted Positively the Number of E-commerce Orders due to the shift in preference among UAE residents from Physical to Online Stores.

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With initial concerns regarding disruptions in supply chain, logistics industry of UAE displayed resilience and adapted to ‘new normal’ delivery techniques. Despite the impact of Covid-19 across businesses, UAE CEP market had registered healthy growth rates, with the number of shipments increasing at a rate of 23.5% over 2019. Covid-19 has pushed most of the retailers to move to offline to online (O2O) method of sale. In the year 2020, more than 1 in 3 digital service consumers started using a new online service due to Covid-19 and ~90% of these consumers intend to continue using the service beyond the pandemic.

2. Increased government support for digital penetration among Emiratis, combined with favorable demographics, has aided the growth of the UAE CEP market.

Government initiatives such as increasing mobile and internet penetration, promotion of innovation, cash less economy and entrepreneurship has led to financial inclusion which has accelerated the growth of courier, parcel and express market. Additionally, Ease of Doing Business and friendly taxation policies have aided to the growth. UAE has emerged as a transshipment hub which has improved logistics services of the economy. The advanced logistics serve as a backbone for the growth of courier, express and parcel market. Moreover, the internet penetration in UAE has reached 91% in 2020 owning to high share of young population and government initiatives such as Dubai Smart City 2021.  

3. Dubai or Abu Dhabi region dominate the domestic trade lane due to a Modern and Strong Physical Infrastructure along with an Able Workforce.

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Construction of various free zones such as Dubai Maritime City & Dubai Logistics City and expansion of existing ports and free zones such as JAFZA and Hamriyah Free Zone has acted as a catalyst to enhance Dubai as a major sourcing hub for international shipments. This has increased the trade between different parts, and is contributing towards the increasing market share of CEP industry in the country. Furthermore, expatriates contribute ~80% to the overall population in the country, which increases parcel and delivery services in the country. Also, most of the corporate hubs are based in Abu Dhabi, leading to a greater number of courier and parcel deliveries in the region.  

4. Customers are willing  to pay a premium amount for faster deliveries in UAE.

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A growing group of customers lay emphasis on fast and reliable express delivery services. They are willing to pay a premium amount for getting the delivery on the same day. Moreover, increase of Emirati purchasing power has provided a boost to same day delivery services in UAE. More than 60% online shoppers are willing to pay premium for speedy delivery in UAE. Considering the fact that UAE is a small country, the standard delivery period is within 72 hours. Some of the international inbound shipments might take up to 7-10 days for reaching the customer’s doorstep in UAE. 

Why second-hand cars are becoming people’s first choice in Egypt?

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Egypt is of the most populated country in the Arab world which is growing faster than other MENA countries leading to an increase in the target audience of the automobile industry. As per Ken Research findings, there are around 11 Mn licensed vehicles in Egypt, almost half of which are private cars and these numbers are poised to grow rapidly as speedy migration to urban areas is causing heavy demand for personal cars in the country.

But here is the catch- Egyptians are more likely to be inclined towards second-hand or used cars when it comes to buying personal vehicles. In this segment, we have talked about those factors that have brought significant shifts in consumer demand and given an edge to the Used Car industry in Egypt.

1. Growing Population and Rapid Migration to Urban Areas causing an Increase in Demand for Personal Vehicles in Egypt

2.  3 in 4 Consumers in Egypt prefer to buy Used Car due to several factors, including the cost of license, the decline in car’s value once they are licensed, and low price of spare parts, etc.

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3.  Social media plays a major role in generating leads for dealers & end consumers by virtue of offering advertisements at a lower cost with respect to other traditional marketing channels

4.  Online Auto portals are also stepping in and offering a plethora of services to solve the pain points faced by customers to drive more sales to the market

5.  Also, flexible contractual Terms in financing used cars are further accelerating the growth of the used car industry in Egypt

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Egypt Used Car Market

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France Used Cars Market Outlook to 2027

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