How can UK Leverage Technology to be a Leader in Parking Management Market By 2028?

 Story Outline

Technologies such as AI, machine learning, speed monitoring, image recognition, and tracking capabilities are expected to improve and enhance the user's experience in the market. For instance, in May 2021, L&T Technology Services developed a smart parking solution collaborating with the Intel Corporation.

The solution comprises four essential parts and uses AI's effective capabilities. They are a digital camera, a mobile application for the end-user interface, a digital signage module for safe and secure access, and an operator portal that contains user information. The AWS cloud platform connects all of these parts, making it readily available and reachable.

Technology enhancement in connectivity and communication is also expected to make it a more affordable and sought-after solution. Mobile-based App support for parking solutions is expected to bring new growth opportunities to the market.

1. Role of technology in Parking Management- IoT Parking Technology poses as solution

Explore: UK Parking Management Market Outlook to 2028

IoT-enabled parking management systems can operate with a distributed architecture, processing a significant portion of data at the edge devices themselves. This approach minimizes the volume of data that needs to be transmitted and stored centrally, reducing the exposure to potential cyber threats. Additionally, the integration of blockchain technology further enhances data security by providing a tamper-proof and transparent record of transactions.

Incorporating IoT technology into parking management not only enhances operational efficiency but also offers a robust framework to safeguard data integrity and privacy. As the parking management landscape continues to evolve, the integration of IoT-based solutions stands as a testament to the industry's commitment to ensuring secure and protected data management practices.

Utilizing Internet of Things (IoT) technology in parking management offers a robust solution to address data security concerns. IoT-enabled parking systems utilize a network of interconnected devices and sensors to collect, transmit, and analyze data in real-time. By implementing advanced encryption protocols and secure communication channels, IoT-based parking solutions ensure that sensitive data remains protected throughout the data transmission process.

2. Navigating Challenges: Ensuring Data Security and Privacy in the Evolving Parking Management Market.

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A Virtual Private Network (VPN) can help secure parking data in the UK's parking market by creating a secure and encrypted connection between a user's device and a remote server. This encryption ensures that the data being transmitted between the user and the server is protected from potential eavesdropping, hacking, or unauthorized access. Here's how a VPN can contribute to securing parking data:

• When you use a VPN, all data traffic between your device and the VPN server is encrypted. This means that even if someone intercepts the data, they won't be able to understand it without the encryption key. This is crucial for protecting sensitive parking-related information, such as payment details, vehicle information, and personal data of users.
• Public Wi-Fi networks, such as those found in parking areas, cafes, and hotels, are often susceptible to security vulnerabilities. Hackers can easily intercept data sent over these networks. By using a VPN, users can encrypt their data before it's transmitted over a public Wi-Fi connection, making it much more difficult for malicious actors to steal sensitive information.
• Some VPNs offer features that allow users to hide their real IP address and browse the internet anonymously. While this might not directly secure parking data, it can enhance overall privacy and protect users from potential tracking and profiling.
• Distributed Denial of Service (DDoS) attacks can disrupt online services, including those related to the parking market. Some advanced VPN services offer DDoS protection, which can help mitigate the impact of such attacks and keep services running smoothly.

3. Rising smart city initiative globally will pose as an opportunity for UK’s parking management market

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The surge in emerging technologies has propelled major urban areas to transform them into smart cities. Smart cities integrate their housing, mobility, and economic functions by utilizing innovative information and communications technologies. The smart city initiatives adopted by governments across the world are expected to provide business opportunities for the providers of smart parking management solutions, which can be integrated with smart city solutions.

As governments worldwide increasingly adopt ambitious smart city initiatives, they recognize the critical role that efficient and intelligent parking solutions play in addressing urban challenges like traffic congestion, air pollution, and limited parking infrastructure. In the UK, a country known for its bustling metropolitan areas and well-developed urban infrastructure, the evolution of parking management is particularly significant.

The parking management market is witnessing a transformative phase, driven by technological advancements and changing consumer needs. The integration of smart parking solutions, IoT-based sensors, real-time data analytics, and seamless payment systems has revolutionized the way parking is managed and experienced. As urbanization and vehicle ownership rates continue to rise, the demand for efficient parking solutions is expected to grow exponentially.

Germany Property Management Market expected to grow with CAGR of ~4% by 2028: Ken Research

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The industry includes the management of residential and commercial real estate and land for third parties. These activities also include the fiduciary management of buildings for the community of owners of condominiums located there. Cleaning services, maintenance and minor repairs, waste disposal, and the provision of guard and security services are not industry-related.

STORY OUTLINE

• Competitive landscape of the Germany Property Management market, which are making it, grow higher.
• Trends in Germany Property Management market which are exaggerating the market by various key players.
• Factors driving the Germany Property Management market are the growing investments in the market.
• According to Ken research, the Germany Property Management market at a CAGR of ~4% during the forecast period (2023-2028).

1. Growth of Germany Property Management market is getting higher with ~4% CAGR.

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Germany Property management market is a growing industry in Germany due to various factors. It is growing with a CAGR ~4%. The growth in German facility management services is attributed to the increasing demand for customized in-house and outsourced facility management solutions. Moreover, the rising number of commercial and residential buildings in major cities pushes the demand for facility management services across the country.

Businesses providing residential property services benefit from price increase and new construction and 26% more people working in intermediation, sales, and management (2014-2017). There is an increase in the turnover of real estate agencies, after the introduction of the “ordered principle” for rented dwellings by the Federal Government of the country.

Residential property agencies increased their turnover from EUR 6.73 billion to EUR 8.49 billion (2017). Real estate agencies are benefiting from the rising prices of dwellings and houses.

2. Which are the driving factors for the growth of Germany Property Management market?

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The driving factors, which are growing the Germany property management market, are the growing investments in commercial properties are expected to increase the region's demand for facility management services. It is quite evident with the recent developments happening in the country. Additionally, rapid infrastructure development and the rising focus on integrated facility management services are anticipated to positively influence the German facility management market over the coming years.

In 2018, real estate activities accounted for 10.5% of the total German GVA (Gross Value added). Real estate activities were in the top 5 economic activities in Germany, in terms of output generated. Gross Value Added: Real estate activities’ revenue was amounted to EUR 82.282 billion in September 2019. This records an increase from the previous years’ value of EUR 80.715 billion. Investments toward real estate have been increasing.

3. Trends which are hyping the growth of Germany Property Management market

Germany Property management market is growing with help of the various trends happening in key players. Trending developments in the market include many innovations and acquisitions ventures.

Intel announced to invest of USD 20 billion to begin constructing eight chip plant facilities in Belgium, Germany, France, and the Netherlands in early 2021. Such developments are driving more opportunities for vendors to have security services for facility management.

Germany is one of the leading European countries in the Fintech market. Start-ups are often the driver of innovation, bringing new and disruptive products and services. As of September 2019, there were 202 property Fintech start-ups in Germany, targeted at the real estate market. PropTech includes solutions, such as online listing services, mobile apps, property management SaaS products, and crowdfunding platforms, among others.

In August 2021, Google is opening a new Google Cloud region in Berlin-Brandenburg, with investment plans in renewable energy. The company plans to further invest in Germany's transition to a digital and sustainable economy. The company plans to invest approximately EUR 1 billion in digital infrastructure and clean energy by 2030.

4. Outlook of Germany Property Management market is expected to grow higher

Germany property management market is growing in the market value every year and is expecting to grow exponentially in upcoming years. Research shows the CAGR of ~1.4% in 2018-2022 forecast period and ~4% CAGR in 2022-2028.

There are many solutions which utilize data analytics, in order to help users make intelligent decisions when it comes to buying, selling, leasing, or investing in real estate, simplifying property management, or marketing their products in the industry are popping which will contribute to a great deal in the market.

Increase in cybercrime results in India Digital Forensic Market to rise, with an expected CAGR of ~16% by 2028

 With the rise in digital threats and cybercrimes, India Digital Forensic Market makes successive changes like integration of Artificial Intelligence, and marking its overall growth.

STORY OUTLINE

• Using techniques like Data Recovery, Log Analysis and more, India Digital Forensic Market enhances its Computer Forensics.
• Upgrades towards Network and Mobile Forensics are improving in cyber threats prevention, marking its increase in efficiency and security.
• With the incorporation of Cloud Based services, advanced methods and easy to use tools are improving the market’s workforce.
• Integration of Artificial Intelligence (AI) and Machine Learning (ML) has made an impact in real time monitoring and error fixation.

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1. Using techniques like Data Recovery, Log Analysis, and more, India Digital Forensic Market enhances its Computer Forensics.

• Indian Computer Emergency Response Team (CERT-In), plays a pivotal role in coordinating Incident Response and supervising cybersecurity and digital forensics.
• National Cyber Coordination Center (NCCC) is a government initiative which primarily focuses on monitoring of ongoing cyber threats, and provides intelligence to various companies.
• After the ATM Skimming case and Barkha Dutt’s Twitter Hack, the need for better and robust digital forensics has led to the rise of data security and privacy.
• With the Digital India Initiative, India is soon to be transformed into a digitally empowered nation, having top notch digital devices and skilled professionals to look out for cyber threats.

According to Ken Research, the India Digital Forensics Market has made successive changes and plans to undergo larger changes in order to make progress and rise to the challenge of rising cybersecurity threats. With advancements in technology and focusing on end-user industry, leading to a growth with an expected CAGR of ~16% by 2028.

2. Upgrades towards Network and Mobile Forensics are improving in cyber threats prevention, marking its increase in efficiency and security.            

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• Deployment of the State Police Cyber Crime Units has led to the separate monitoring of the mobile related cyber threats like mobile application hack etc.
• After the WhatsApp Hacks and Phishing attacks, enhancements to specific areas has been made with enhanced identification of attack vectors, recovering evidence and more.
• Both CERT-IN and NCCC has tremendous availabilities of threat detection, incident response, network traffic analyzers providing enhanced Network Forensics solutions.
• After the Distributed Denial of Service (DDoS) Attacks, the Network Forensic sector has made their tracking more complex, mapping the source, trajectory or pattern of attack etc.

3. With the incorporation of Cloud Forensics, advanced methods and easy to use tools are improving the market’s workforce.

• With the adoption of Monitoring APIs and Cloud Service Logs, analyzation gives data on user activities with real time monitoring, system events and more.
• Memory Analyzation of a virtual machine used inside a cloud environment, can help to view or identify running processes, potential malware and network connections.
• Incorporation and usage of Blockchain technology, ensures the maintenance of its data integrity, enhancing the investigation of certain threats properly.
• With the coordinated initiatives from Cloud Security Alliance (CSA), called the "Cloud Forensics Working Group", has helped device newer frameworks of threat detection and prevention.

4. Integration of Artificial Intelligence (AI) and Machine Learning (ML) has made an impact in real time monitoring and error fixation. 

• With enhanced Anomaly Detection and Pattern Recognition, AI and ML can detect abnormalities in network and data transmission, detecting potential cyber threats.
• Enhanced Natural Language Processing (NLP) helps in analyzing unstructured texts data from email or personal messaging applications, increasing investigating efficiency.
• Upgraded ML algorithms detects the behavioral pattern of an individual, detecting for an unusual or unauthorized access and reporting in real time.
• A CERT-In initiative called “Cyber Swachhta Kendra”, has allowed for users to use free tools to clean up from malware and other threats pertaining to future problems, clearing the environment of cyber threats.

CONCLUSION

This heavily weighted industry is always on the lookout and monitoring every aspect of digital forensics, paving the way for a suitable and clean environment without the presence of any hackers trying to enter through the backdoor.

Revving Up: Malaysia's Used Car Market Accelerates Amid Economic Caution

 With cautious sentiment driven by inflation and interest rate hikes, the growth in used car sales is projected to continue.

• Rising Demand: Used car sales to surge in 2023 amid cautious economic outlook.
• Affordable Option: Customers opt for pre-owned vehicles due to inflation and interest rate concerns.
• Online Platforms: Online platforms expedite used car buying and selling process.
• Growth Projection: Used car sales projected to grow 10% YoY in 2023.1.
• As per Ken Research, as Malaysia's used car market gains momentum in 2023, economic uncertainties prompt customers to gravitate towards more affordable pre-owned vehicles.

1. Resilient Used Car Sales Surge in 2023 Amid Economic Caution

Malaysia Used Car Market Trends

The used car market in Malaysia has witnessed a resurgence in 2023, driven by economic caution and consumer preference for affordable pre-owned vehicles. Datuk Tony Khor, President of the Federation of Motor and Credit Companies Association of Malaysia (FMCCAM), underlines that factor such as inflation, interest rate hikes, and slower economic growth will influence consumer sentiment this year in a big way.

When economic conditions become uncertain, there is a tendency for customers to opt for cost-effective pre-owned vehicles, contributing to the growth of the used car segment.

2. Digital Platforms and Trade-ins Shape the Market Dynamics

Malaysia Used Car Market Scenario

Khor highlighted the vital role of online platforms in reshaping the used car market landscape. These digital platforms are expected to expedite and simplify the process of buying and selling used cars, providing both buyers and sellers with a convenient and efficient way to conduct transactions.

The trend of trading in old vehicles when purchasing new ones has gained traction. With around 65% of new car buyers opting for trade-ins, the supply of used cars continues to be supported by the constant influx of new vehicle sales.

3. Steady Industry Performance and Positive Outlook

Malaysia Pre-Owned Car Market Future Scenario

Recent data from the Malaysian Automotive Association (MAA) reveals a strong performance in the automotive sector. Sales of new vehicles witnessed a remarkable 39% surge to 62,649 units in the last month, underlining the market's resilience.

The year-to-date sales volume for February highlights steady growth, standing at 112,128 units compared to the same period in the previous year. Passenger vehicle sales reached 55,555 units in February 2023, indicating a positive trend.

 Further boosting the market, analysts project strong sales growth in March 2023, with Japanese car manufacturers capitalizing on fiscal year-end effects and the extended sales and service tax (SST) exemption. As the industry remains well-positioned, strong orders, steady input costs, and supply chain stabilization are set to propel the sector's growth and earnings throughout the year.

Conclusion

According to Ken Research, as Malaysia's used car market gains momentum in 2023, economic uncertainties prompt customers to gravitate towards more affordable pre-owned vehicles. With cautious sentiment driven by inflation and interest rate hikes, the growth in used car sales is projected to continue, supported by online platforms and the preference for personal transportation.

India's UPVC Door and Windows Market Set to Soar: Exploring Factors Driving the 2027 Boom!

 The growth projections for India's UPVC door and windows market are promising. Industry experts estimate that the market will experience a CAGR of around ~11.3% from 2022 to 2027.

Story Outline

• UPVC Demand in Evolving Real Estate: India's real estate evolution sees surging demand for UPVC doors and windows, driving market growth towards modernization by 2027.
• Government's Role in Housing Evolution: Government investments anticipate increased urban housing demand, driven by initiatives like the Urban Infrastructure Development Fund, reshaping the real estate landscape.
• Influential Market Factors: Rising personal income aligns with infrastructure growth, while climate resilience and affordable housing policies contribute to evolving market dynamics.

PVC Resin's Pricing Influence: PVC resin pricing, swayed by demand, inventories, and oil costs, showcases sensitivity as historical trends indicate. Future trends remain molded by these factors.

India's real estate and construction sectors have been experiencing rapid development, with a noticeable shift towards modernization and efficiency. One significant aspect of this transformation is the increasing demand for UPVC (unplasticized polyvinyl chloride) doors and windows. This trend is driven by a variety of factors that are projected to lead to substantial growth in the UPVC door and windows market in India by the year 2027.

1. Government's Mega Investment Plans Set to Reshape the Market

Anticipated government initiatives and investments in the real estate sector are predicted to generate a surge in demand for the construction of new housing units, particularly in urban centers such as Delhi and Bangalore.

The upcoming period envisions new building construction taking the lead in market dominance. This trend is predominantly attributed to the robust infrastructural advancements in the northern and central regions of the nation.

The initiation of the Urban Infrastructure Development Fund, backed by a substantial INR 10,000 Cr. investment in the Union Budget 2023-24, exemplifies a proactive stride towards holistic national advancement.

2. Impactful Industry Factors: Income Rise, Climate Challenges & More…

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The rise in Personal disposable income is set to drive market demand, fueled by infrastructure development. Demand for door and window systems are expected to increase due to its ability to withstand extreme climatic conditions.

High emphasis by the Government on the housing scheme presents strong opportunity in the urban affordable housing segment. Increased consumption of PVC resin by the US and other countries will lead to price escalation if production is limited.

3. PVC Resin Price Faces Ripple Effects

The price of PVC resin is affected and expected to rise in future owing to various factors such as increase in demand, inventories, and oil prices.

The cost of PVC resin is subject to periodic fluctuations. Notably, it surged significantly from INR 64.0 per Kg in 2015 to INR 111.0 per Kg in 2022. This increase is attributed to heightened end-user demand, elevated oil prices, and reduced domestic supply.

The escalation in PVC resin prices stems from heightened demand for end-use products, oil price hikes, and decreased domestic supply. Additionally, the forthcoming years will witness PVC resin pricing influenced by end-use product availability and various other factors.

Powering Dutch Fields: Massey Fergusons Impact on Agri-Equipment

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Massey Ferguson is a globally recognized high-quality label that provides a diverse range of tractors and agricultural equipment. This advanced and premium brand of tractors caters to all farmers and addresses every emerging mechanization requirement.

STORY OUTLINE

• Massey Ferguson's eco-tech reduces fuel by 10%, cuts pesticides 20%, and conserves 40% energy, embodying sustainable farming leadership.
• Fuel efficiency aids climate goals, precision tech safeguards soil, and collaborations empower farmers, advancing eco-friendly practices.
• Operating in 140+ countries, Massey Ferguson's 300+ machinery models drive productivity and sustainability, transcending borders with innovation.
• Massey Ferguson's fusion of excellence and eco-consciousness drives Dutch green goals, leaving a lasting agricultural mark globally.

In the thriving Agricultural landscape of the Netherlands, one name has stood the test of time and innovation—Massey Ferguson. With a legacy rooted in mechanization and a commitment to pushing the boundaries of farming technology, Massey Ferguson has played a pivotal role in shaping the nation's Agri-equipment market.

1.Greening the Future: Massey Ferguson's Vision

In an era when sustainable agriculture has become a global imperative, Massey Ferguson stands as a steadfast advocate for a greener tomorrow. As the Netherlands and the world navigate the intricate complexities of ecological responsibility, Massey Ferguson's vision emerges as a beacon of hope and progress.

Massey Ferguson's machinery has been reported to reduce fuel consumption by up to 10%, contributing to lower carbon emissions and decreased environmental footprint.

The precision technology embedded in Massey Ferguson's tractors has led to a potential reduction of up to 20% in fertilizer and pesticide usage, supporting healthier ecosystems and soil quality.

The integration of eco-friendly features in Massey Ferguson's equipment has led to energy savings of approximately 40% compared to conventional models, aligning with the broader global goal of reducing energy consumption.

2.Sustainability and Excellence: Massey Ferguson's Impact

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Massey Ferguson's influence extends beyond machinery—it fosters sustainability and excellence. Committed to ecological responsibility, it aligns with the Netherlands' sustainable agriculture drive. Advanced, eco-friendly technology equips farmers for a greener, more productive future.

Fuel-efficient equipment reduces emissions up to 10%, aiding climate goals. Precision technology cuts fertilizer and pesticide use by 20%, safeguarding soil and water. Energy-efficient components yield 40% energy savings, conserving resources. Collaborations with experts refine eco-friendly practices.

Educational initiatives empower farmers for seamless sustainability transition. Massey Ferguson's role in Dutch agriculture contributes to national green goals and biodiversity preservation. By intertwining excellence with eco-consciousness, it shapes an agricultural legacy of enduring positive impact.

3.Growth Beyond Borders: A Global Footprint

Massey Ferguson's influence isn't confined to Dutch fields. The brand's reach extends across the globe, making it a trusted name in Agri-equipment. Its innovations have traversed continents, supporting farmers worldwide in their quest for enhanced productivity and sustainable practices.

Massey Ferguson's market presence extends to over 140 countries, demonstrating its truly global footprint. With a diverse range of over 300 tractor models and farm machinery.

In conclusion, Massey Ferguson's legacy in the Netherlands' agricultural landscape is a testament to its pioneering spirit and commitment to sustainable excellence. Through its vision for greener farming, impactful technology, and global outreach, Massey Ferguson shapes a resilient agricultural future that transcends borders, benefiting both farmers and the planet.

How Charges against Major Palm Oil Companies Rock Indonesia's Industry?

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The charges against major Indonesian palm oil companies expose a critical industry crisis, highlighting governance flaws and corruption's impact.

                                                                                  Storyline

1. Charges Rock Palm Oil Industry: Major Indonesian palm oil firms charged with corruption in cooking oil scandal.
2. Transparency and Accountability: Legal proceedings spotlight governance flaws, emphasizing need for transparency and accountability.
3. Corporate Responsibility: Verdicts hold executives accountable, underlining importance of ethical conduct and corporate responsibility.
4. Catalyst for Reform: Scandal prompts industry calls for comprehensive reforms, demanding oversight, ethical practices, and sustainability.
5. As per Ken Research, the charges against major Indonesian palm oil companies expose a critical industry crisis, highlighting governance flaws and corruption's impact. As legal proceedings unfold, the imperative of transparency and accountability gains prominence.

1. Current Scenario & Charges

Indonesia's palm oil sector faces a severe shakeup as three leading palm oil companies - Permata Hijau Group, Wilmar Nabati Indonesia, and Musim Mas - are charged with corruption in connection to a cooking oil scarcity scandal. The companies allegedly conspired with a trade ministry official to obtain export permits, allowing them to circumvent domestic cooking oil quota requirements. The fallout from this controversy happened across the world's largest palm oil producer, raising concerns over industry practices, transparency, and governance.

       

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2. The Cooking Oil Scandal Unveiled

The scandal came to light in the midst of a cooking oil shortage crisis in early 2022. Executives from the accused companies were arrested for their role in securing export permits, enabling the diversion of cooking oil away from domestic markets. This situation left Indonesia, the producer of over half of the world's crude palm oil (CPO), grappling with an acute shortage of a commodity that is essential for its citizens' daily lives.

3. Legal Fallout and Accountability

The prosecution has already led to convictions and imprisonment of the implicated executives earlier this year. However, the spotlight has now shifted to the companies themselves, as prosecutors aim to hold them accountable for the substantial state losses resulting from their actions. The trial's verdict emphasized that the executives' actions represented their respective companies, making them liable for restitution.

4. Industry and Governance Implications

The charges against these major palm oil players have cast a spotlight on the intersection of the industry, governmental regulations, and corruption in Indonesia. This case underscores the need for greater transparency, accountability, and comprehensive regulatory reforms in the palm oil sector. As authorities proceed with legal action, industry observers and experts emphasize the integration of these efforts into broader systemic improvements to address the long-standing issues plaguing the palm oil industry. The case serves as a reminder that sustainable growth requires not only economic success but also adherence to ethical practices, governance, and the rule of law.

Conclusion: Forging Industry Reform

As per Ken Research, the charges against major Indonesian palm oil companies expose a critical industry crisis, highlighting governance flaws and corruption's impact. As legal proceedings unfold, the imperative of transparency and accountability gains prominence. Verdicts against executives and ensuing company charges underscore corporate responsibility's significance. This scandal marks an important juncture, calling for comprehensive sector reform. Industry stakeholders, regulators, and civil society unite in demanding tighter oversight, ethical practices, and sustainability. The industry's trajectory hinges on addressing these challenges to restore trust, align economic progress with ethical conduct, and shape a responsible future for Indonesia's palm oil sector.

Global Health Insurance market is expected to grow at a CAGR of ~6% by 2028: Ken Research

Due to recent pandemic of Covid 19 health insurance market has grabbed growth ensuring economic help to comman man for better health care facilities with easy money handling and increasing awareness especially after COVID 19.

STORY OUTLINE

• Launch of new policies, mergers, acquisitions and partnerships to propel growth in future
• Covid 19 has a huge impact on the health insurance market on Global level.
• Factors, which are responsible for the growth, are the higher cost in hospital bills, increasing prevalence of chronic diseases etc.
• According to Ken Research, the Global health insurance market is projected to grow to ~6% between 2022-2028.

1. Global Health Insurance Market expected to surge with ~6% CAGR Growth in 2022-2028

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The Global health insurance market is witnessing growth during recent years. It is a cost-sharing tool, which cover medical expenses and charges on a particular illness. They can be taken as per the convenience of the individual. The health insurance market is projected to at a CAGR of ~6% from 2022 to 2028.

The market is very dense for new entrants. The market participants often engage in partnerships with healthcare facilities to boost their health insurance sales and expand their market revenue.

Furthermore, market strategies, such as mergers, acquisitions, collaborations, and joint ventures are also prominent in the global health insurance market.

Increasing disposable income and healthcare expenditure, especially in China and India, are also emerging as major driving factors for the market's growth.

The National Cancer Institute predicts that in 2022, there will be 1,806,590 new instances of cancer identified and 606,520 cancer-related deaths in the United States.

2. Which are the driving factors for the growth of Global health insurance market?

The health insurance industry is growing at a faster rate in the rural areas as it offers various benefits, including reimbursement of the insured person's disease treatment costs and a lump sum payment in the event of a long-term illness.

Rural consumers are also becoming more knowledgeable about health insurance coverages such as in-patient hospitalization, pre- and post-hospitalization charges, ambulance charges, and domiciliary hospitalization, which supports market growth.

Moreover, doctors & teachers in rural areas have raised health insurance policy awareness, moving the health insurance market forward.

In addition, government entities such as institutions and cooperative banks play a vital role in improving the penetration of health products and services in rural areas by providing affordable insurance policies and facilitating the claim settlement process.  Thus, rising awareness of health insurance in rural areas is moving the global industry forward.

3. Impact of COVID 19 on global health insurance market

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Because of the high medical expenditures and increased awareness of the benefits of health insurance policies, the global health crisis caused by the coronavirus has accelerated the demand for COVID-19-specific and comprehensive health insurance policies among individuals.

Moreover, with rising incidences of COVID-19 cases and uncertainty-surrounding patients’ health, the demand for health insurance witnessed a sharp surge during the pandemic.

Furthermore, to provide relief to patients affected by the coronavirus, many countries implemented a wide array of health insurance policies and laws to assist their citizens.

Thus, the pandemic also changed people's attitudes about medical and health insurance policies, and they learned the importance and advantages of such policies.

Many insurance companies launched Coronavirus Health Insurance to tap on the market opportunity and offer assistance for COVID-19 treatment.

This emerged as the major driving factor for the market growth. The prevalence of other health issues also registered a surge during this period, thereby driving the health insurance market during the forecast period.

4. What is the competitive landscape of global health insurance market?

The leading players in the health insurance market are Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd., Express Scripts Holding Company, AXA, Aviva plc, Aetna, Inc. other prominent players.

North America, Europe, Asia-Pacific, Latin America, and Middle East make up the global health insurance market. Among these regions, North America dominates the health insurance market.

However, the Asia-Pacific is projected to witness the highest CAGR during the forecast period due to the presence of a largely untapped market in the region.

Some trending news came from Oscar Health Inc., an American health insurance company, announced its collaboration with Emory Healthcare, an extensive healthcare system in Georgia, US, to offer technology-connected health insurance and care in US cities including Atlanta and Columbus.

Also, SBI General Insurance, a leading Indian Insurance Company, announced its technological collaboration with Google Pay, offering its clients to buy health insurance through the google pay app.

In June 2021, Anthem, Inc. acquired the MMM Holdings, Inc., which allowed the company to serve the consumers in Puerto Rico with Medicaid and Medicare plans.

In April 2021, Molina Healthcare, Inc. entered into an acquisition agreement with Cigna Corporation in which Molina Healthcare acquired Cigna’s Medicare-Medicaid Plan and Texas Medicaid.

Navigating Growth and Resilience: Malaysia's Used Car Market Trends and Strategies

 Storyline

• Middle-Class Expansion: Rising middle-class income drives increased car ownership and demand for pre-owned vehicles.
• Digital Surge: Growing prevalence of online used car platforms boosts sales and enhances accessibility.
• Strategic Pandemic Support: Moratorium on car loans sustains the used car industry during the pandemic.
• Future Growth: Anticipated 8.5% (2027) CAGR as Malaysia's middle class expands and digital trends persist.
• As per Ken Research, the Malaysia Used Car Market has undergone a robust growth, facilitated by the expanding vehicle ownership among the middle class, improved availability of financing options, and the flourishing trade-in culture

1. Driving Growth Factors in Malaysia's Thriving Used Car Market

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The Malaysia Used Car Market has experienced growth driven by factors like expanding vehicle ownership within the middle class, increased availability of financing options, and a growing trade-in culture. As the economy flourishes and the middle-class strata grows, more Malaysians are embracing car ownership, with middle-income earners of MYR 4,851 to MYR 10,970 per month investing in pre-owned vehicles. Moreover, the market is taking advantage of improved financing options, as banks and financial institutions offer specialized loans and flexible schemes tailored for used cars, enhancing accessibility for potential buyers.

2. Kuala Lumpur and Selangor: Driving Force Behind Malaysia's Used Car Demand

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Kuala Lumpur and Selangor are the leaders in the road traffic landscape in Malaysia, resulting in a robust demand for used cars. The Klang Valley, encompassing these regions, holds a major share of the country's used car sales, exceeding 60%. This dominance is due to the urban population's high disposable income, the region's economic importance, and a concentration of dealerships and used car exchanges. Moreover, key commercial centers like Kuala Lumpur, Selangor, Melaka, and Johor, along with major tourism hubs like Kuala Lumpur, Penang, and Sarawak, contribute to increased road traffic and further fuel the demand for pre-owned vehicles.

3. Strategic Moratorium Boosts Sustainability of Malaysia's Used Car Industry Amid Pandemic

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The implementation of a moratorium on car loans during the pandemic has played a strategic role in enhancing the sustainability of the used car business in Malaysia. This measure, announced under the National Economic Recovery Plan, also known as Penjana, has provided critical support to used car dealerships and financial institutions. These entities provide streamlined loan applications, rapid approvals, and comprehensive assistance, ensuring a smooth financing experience for customers. Moreover, most banks in Malaysia extend financing of up to 90% for Malaysian citizens and 70% for foreigners looking to purchase used cars. This intervention has effectively provided benefit in maintaining the used car industry's stability throughout the pandemic.

4. Market Set for 8.5% CAGR Amidst Middle-Class Expansion and Digital Surge

The Malaysia Used Car Market is anticipated to offer a robust growth rate with a CAGR of 8.5% from 2022 to 2027. This expansion is due to the increasing middle-class segment and the growing prevalence of online used car platforms. The middle-class population, accounting for 37.2% of total household income in 2019, is projected to further expand, showcasing a heightened demand for pre-owned vehicles. The increase in online auto-classified platforms and consumer preference for digital avenues are expected to bolster the used car sales growth. Moreover, FMCCAM's strategic initiatives, including the introduction of a new online marketplace and collaboration with used car financiers from Japan, China, and Taiwan, are expected to contribute to the increasing sales of used cars in the country.

Conclusion

As per Ken Research, the Malaysia Used Car Market has undergone a robust growth, facilitated by the expanding vehicle ownership among the middle class, improved availability of financing options, and the flourishing trade-in culture. As the middle-income group's economic capacity widens, an increasing number of Malaysians are going for car ownership, with an increased preference for pre-owned vehicles.

The market's accessibility has been further enhanced by the presence of diverse financing options offered by banks and financial institutions, catering specifically to used car purchases. Moreover, Kuala Lumpur and Selangor stand as major drivers of the market due to their significant road traffic contribution, showcasing the region's economic importance and urban population's disposable income. As the market evolves, strategies such as the introduction of extended warranty programs, OEM-certified car labs, and the rise of used EVs are shaping the landscape and broadening opportunities.

Moreover, the government's support, including the moratorium on car loans, has bolstered the market's resilience during the pandemic, ensuring the continued vibrancy of the used car industry in Malaysia.

Top 3 players in India Hosiery Market: Ken Research

 Story Outline

• Lux industries Ltd.: A leading contributor of India Hosiery market. Lux Industries is known for its brands like Lux Cozi, ONN, and many others. They offer a wide range of hosiery products, including innerwear, socks, and thermals.
• Rupa & Co. Ltd.: Rupa Co. is popular in India with brands like Rupa, Jon, Frontline, and Euro. They are famous for diverse range of products, from innerwear to casual wear.
• Jockey India: Jockey India is the international brand, which provide variety of hosiery items.

According to Ken Research, the India Hosiery market is anticipated to evolve by 2028 by growing at a CAGR of ~12%.

The India Hosiery market is rapidly growing and is anticipated to attain a significant level of growth in the upcoming years.

There are many reasons behind the growth of India Hosiery market. Some of these reasons include penetration of online sales. Attraction of youth towards yoga and work out which need hosiery clothes. Changing lifestyles and demographic factors are bringing changes in demand patterns for hosiery. 

1. Lux Industries

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Founded in 1957, headquartered in Kolkata West Bengal, having more than 4000 employees worldwide, and wide presence in India along with a total revenue of ₹ 2312 cr (FY 2021-22)., this company is a leading contributor of India Hosiery market.  It has establishment of over 500,000 retail outlets all over India, and has offices in Kolkata, Delhi, Agra, Indore, Mumbai, Ludhiana, Jaipur, and Roorkee.

The new trends and innovations in Lux industries, which are significantly contributing in the market, are organic materials used in their clothing and having collaborations with various celebrities. The products made by this organization has various styles and range in clothing such as Vests, Gym Vests, Drawers and Trunks, Polo & Tees etc.

The economy or mass segment accounted for nearly 48 per cent of the company’s turnover in volume terms and nearly 33 per cent in value terms in 2022-23. The company had posted a total turnover of ₹2,368 crore during the year ended March 31, 2023. The semi-premium category accounted for nearly 41 per cent in volume and 52 per cent in value terms while the premium segment accounted for 11 per cent by volume and 15 per cent in value terms of the company’s total turnover.

2. Rupa and Co. Ltd.

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Rupa and Co. is one the most popular hosiery player in India. Established in year 1968. It has been growing with significant growth in Hosiery market and made a revenue of Rs. 195.44Cr.

It has its headquarters in Kolkata, India with thousands of branches all over the country. Lux, which occupies nearly 15 per cent share in the men’s organised innerwear market at present, is also hopeful of growing the womenswear segment and has identified it as one of the growth drivers.

It has launched a range of women’s innerwear and outerwear products under the brand Lyra. The company is looking to grow the women’s wear segment by introducing new products that are comfort driven. The women’s wear range contributed to close to ₹400 crore during year ended March 2023 and is likely to touch ₹600 crore by FY25, the company said.

The company is also looking to grow the premium innerwear range under the brand ONN among others into ₹500 crore by FY25, up from the current ₹349 crore in FY23.

3. Jockey International

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Jockey international is the world-leading brand, which is established in 1876 and became a public company in 2007 in India. It has its headquarters in Mumbai, India. It has a dominance over Indian region because of huge customer base and trustworthy quality. Jockey is leading in Hosiery market due to its innovative merges and collaborations in India. Some innovations are like.

It is setting new manufacturing units in Ibrahimpatnam Telangana and expanding its area. They have recently launched 3D briefs in India, which are quite popular in other countries. Their innovations are evolving the dominance of Jockey in the Indian Hosiery market.

Jockey has many Products available across India like briefs, socks, stockings, legging and innerwear for men and women. Main reasons for the growth of the market are its constant expansion and innovations in clothing market.