The Embassy of Mexico to the USA– Economic Affairs Section estimates that 35 million international visitors arrived in Mexico from January 2021–August 2021. The increasing footfall of tourists has resulted in the large-scale construction of hotels and resorts in the country. As bathrooms are an inherent part of resorts and hotels, owners of these structures deploy shower glass doors in abundance, to enhance the aesthetic appeal of such facilities. Additionally, the increasing preference of tourists for luxury components in their hotels will also facilitate the adoption of shower glass doors in Mexico.
Moreover, the surging focus of people on home décor and do-it-yourself (DIY) projects will also help the Mexican shower glass door market progress at a CAGR of 6.7% during 2021–2030. According to P&S Intelligence, the market was valued at $255.7 million in 2020, and it will generate $483.1 million revenue by 2030. In contemporary times, the country is witnessing the growing popularity of home decorating ventures due to the booming public demand for attractive and fashionable interiors. In addition, the people of Mexico are also learning to install shower doors and enclosures by themselves. Browse detailed report - Mexico Shower Glass Door Market Analysis and Demand Forecast Report In recent years, Mexico has witnessed the large-scale installation of smart shower glass doors in healthcare facilities, hospitality units, residential structures, and corporate spaces, as smart glasses enable the blockage of light through the surface. Additionally, the light transmission property of smart glasses, which changes with the application of heat, voltage, or light on them, also encourages their adoption in the country. For example, Intelligent Glass provides switchable laminated glass for internal applications, such as showers and bathrooms, and double-glazed units for external glazing, under its smart glass range. In contemporary times, the Mexican population is preferring frameless shower glass doors over framed doors due to the low maintenance cost and exceptional aesthetic quotient of the former. These doors can be availed through indirect sales channels, such as online channels, big-box stores, and kitchen and bath showrooms, and direct sales channels. In the coming years, a considerable population of Mexico will purchase shower glass doors from direct sales channels because door manufacturers have started offering a wide range of doors to customers at discounted prices.
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Miniaturized display units with screen sizes and resolution in the micro-levels are called microdisplays. Their small size makes them eligible to be used in a wide variety of applications, such as head-mounted displays and digital cameras, as the screen takes up small space. They are also used in data projectors and rear-projection TVs. The growing advanced driver-assistance system usage is also propelling the demand for microdisplays globally. Since ADAS assists drivers in driving and parking the vehicle, it increases car and road safety.
Most road accidents occur due to human error, which is why ADAS is being developed to adapt, enhance, and automate the vehicle technology, for offering better driving safety. This system uses a camera and sensors to detect a nearby obstacle and respond accordingly, to prevent any mishap. It also automates lighting, offers satellite navigation and traffic warnings, assists in safe lane departure, and enables adaptive cruise control, thereby preventing collisions. Microdisplays are an essential component of head-up displays, which have themselves become important for proper ADAS functioning. Get More Insights: Microdisplay Market Revenue Estimation and Growth Forecast Report Other than ADAS, the rising number of near-to-eye (NTE) applications will propel the microdisplay market value to $5,535.6 million by 2030 from $1,145.6 million in 2020, at a high compound annual growth rate of 17.1%. Various NTE devices utilize these screens, such as HMDs, mobile phones, cameras, and AR/VR devices. Therefore, the surging demand for AR and VR devices in the media and entertainment industry reflects a high demand for microdisplays globally. This is itself attributed to people’s rising disposable income, primarily in developing countries, such as India, China, Brazil, Mexico, Indonesia, and Vietnam. In this regard, another key factor propelling the sale of such components is the rising military spending around the world. HUDs and HMDs are widely used in fighter aircraft, either on the aircraft itself or in pilots’ helmets. Moreover, sniper rifle scopes, specifically the electronic ones, have microdisplays. Moreover, HMDs are used to train military personnel before being trained in real-world environments with live ammunition. Similarly, HMD-based training is now being widely imparted in the healthcare sector to paramedics and surgeons. The way one looks has always been a tempting feature for humans, which improves their self-confidence. The increasing consciousness about physical hygiene among women and men, the rising requirement for innovative grooming solutions, and the surging disposable income are some of the key factors responsible for the mounting demand for razors. Additionally, celebrity endorsements and technical developments also have a significant role in boosting the sale of these implements.
With the rising focus on looking elegant, the use of a razor has a major part to play in enhancing the appearance. Since it is a unisex product, the demand for the same is generated by all consumer groups. Thus, the razor market garnered revenue of around $17,405.4 million in 2021, and the size will advance at a CAGR of 2.0% from 2021 to 2030, to ultimately reach $20,866.6 million by 2030. Get More Insights: Razor Market Revenue Estimation and Growth Forecast Report The APAC region is the leader in the industry, and it is expected to continue on the path in the future. The demand for this product in the emerging economies of the region is high. China, India, and Indonesia are some of the most-populous countries in the world, and because of their fast-growing population, increasing rate of urbanization, and improving purchase power of people for personal care goods, the region is expected to witness the quickest surge in razor sales in the years to come. The stainless-steel category held the larger share in 2021, based on blade type, in the razor market. This is mainly because this type of blade has superior quality, does not corrode easily, and stays sharp for a longer duration. Because of these reasons, producers and consumers are opting for stainless-steel blades. In addition to these benefits, the blade heats quickly, so users do not feel the coldness of the metal on the skin. The major drivers of the global IoT microcontroller market include the surging requirement for IoT in several sectors, increasing preferences for automation, and technological advances. In 2021, the market stood at $4,836.9 million and it is predicted to reach $13,898.0 million by 2030. It is projected to advance at a CAGR of 12.4% from 2021 to 2030. This can be due to the surging need for connected products, including gaming consoles, security systems, smartphones, televisions, household appliances, and tablets.
The technological advances will pave the way to generate higher revenue in the IoT microcontroller market in the forecast period. Recognizable alterations have taken place in hospitals and clinics because of data analytics methods, wireless devices, and developments undertaken in computer-embedded technologies. Furthermore, by enabling the inspection of huge amounts of very complicated medical information, clinical research is being transformed by IoT technologies. Additionally, there is an increase in the geriatric population, which leads to a higher prevalence of chronic diseases. This drives the requirement for IoT-based patient monitoring devices. During the outbreak of COVID-19, lockdowns were imposed across the world. Thus, corporations of several sectors followed the work from home culture resulting in a dire need for PCs, mobile phones, wearables, and IoT-enabled smart gadgets. Furthermore, all of this went in harmony with increasing collective awareness about wellbeing, fitness, and health. Also, health parameters, including the heart rate and oxygen levels, are easily monitored and tracked by wearables. This exerted a push on the demand for wearables. Within the product segment, the global IoT microcontroller market will be dominated by the 32-bit microcontroller category in the forecast period, accounting for the highest CAGR, of around 12%. This can be credited to the variant’s better functional abilities, extending assistance to small implanted medical devices, Industrial 4.0 processes, and the latest IoT applications. Moreover, this type of microcontroller is witnessing extensive use in industrial automation on account of its higher processing power, better performance, enhanced efficiency, user-friendly features, and economic aspects over other microcontrollers. Additionally, it can send real-time sensor information to an IP network. The demand for electric vehicles has been increasing swiftly across the globe, which can be attributed to the surging concerns regarding the deteriorating condition of the environment. The automotive industry is under great pressure to decrease its carbon footprints, as ICE vehicles have been majorly responsible for the surging air pollution. Owing to this, the industry is widely focusing on enhancing the performance of these vehicles. Increasing the efficiency of these vehicles is a major problem that is being faced in the industry.
Since spintronics play an important part when it comes to improving the battery performance, various manufacturers are working developing advanced sensors for electric vehicles. Owing to these factors, the global spintronics market is predicted to generate a revenue of $12,854.6 million by 2030, increasing from $362.7 million in 2019, and is projected to progress at a 34.8% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. Access Report Summary - Spintronics Market Segmentation Analysis Report Also known as spin electronics, spintronics is the study of part that is played by an electron’s spin in the solid-state physics, and other devices that leverage spin properties. There are two spintronics device types, namely metal-based and semiconductor-based, between which, the demand for metal-based devices was higher in the past. These devices are made up of ultrathin ferromagnetic films that enable the control of electrons’ spin by utilizing external magnetic field. This further ensures low energy consumption and high-speed data transfer. Metal-based devices are further of two types, namely tunnel magnetoresistance and giant magnetoresistance. Other than this, the demand for semiconductor-based devices is also projected to increase significantly in the coming years, owing to the increasing deployment of 5G, rising adoption of the IoT technology, and commercialization of spin transistors, such as field-effect transistors. The major industries that utilize these devices are IT & telecom, automotive, healthcare, consumer electronics, and industrial, among which, the IT & telecom industry created the largest demand for them. The worldwide outdoor lighting market was valued at $10,352.1 million in 2020, which is projected to reach $20,269.7 million at a CAGR of 7.0% during 2020−2030. The rising requirements for energy-efficient lighting, advancing initiatives of government toward the conservation of energy, and growing development of infrastructure are the key drivers for the growth. In addition, China is a major manufacturer of lighting devices and raw material and component exporter. Lighting has become a vital amenity to have at parking lots, streets and highways, large stadia, public parks, and other outdoor spaces.
In 2020, based on lighting type, the LED lights classification held the greatest share of the outdoor lighting market. During the forecast period, the category is also predicted to become the fastest-growing. This will be due to the increasing use of LEDs as a source of light in a variety of applications, including parking lots, stadia, and roads. This will itself be because LEDs allow for more effective use of light settings, thus resulting in greater energy savings. Get More Insights: Outdoor Lighting Market Revenue Estimation and Growth Forecast Report Smart outdoor lighting is becoming popular in the outdoor lighting market, with potential applications in a variety of places, such as motorways and highways, city parks and public spaces, outdoor parking lots, university and college campuses, sports parks, and commercial sites. As power prices rise, a growing number of municipalities throughout the world are converting to smart lighting to save money, while enhancing system efficiency and maintaining public safety. Apart from energy savings of 40%−50%, smart lighting has many advantages, including automation, support for communication-connected infrastructure, and real-time diagnostics. Hence, due to the rising government focus on encouraging energy savings through the use of energy-efficient lighting sources, primarily LEDs, the outdoor lighting market growth is receiving a boost. LEDs are particularly useful in outdoor lighting applications since they operate effectively for long periods, while requiring little maintenance. LEDs are also great directional light sources and have a long lifespan. Because of these advantages, numerous local governments, including municipalities, have begun making efforts to convert their outdoor lighting systems entirely to LEDs. Furthermore, one of the primary drivers for the construction of new roads and highways, which are a key application area of outdoor lights, has been the increase in traffic. The surging number of passenger automobiles, which is propelled by the increasing urbanization rate and rising disposable income, is the primary cause of traffic congestion across the world. To alleviate traffic congestion, governments in several nations, including the U.S., India, and China, are putting a heavy emphasis on road infrastructure development, thereby driving lighting demand. Due to the rising public awareness about the harmful effects of cigarette smoking on the human health, the sales of e-cigarettes are climbing in South Korea. Moreover, the declining popularity and sales of tobacco cigarettes is making many e-cigarette producers focus on developing a diverse product portfolio. For example, British American Tobacco Inc. developed the ‘Glo’ e-cigarette, Phillip Morris International Inc. developed the ‘IQOS’, and Japan Tobacco Inc. launched two e-cigarette brands namely ‘Logic’ and ‘Ploom’ in the country.
In South Korea, people are increasingly preferring smoking e-cigarettes over the traditional tobacco ones, primarily because of the increasing public awareness about the various diseases caused due to tobacco smoking. This is, in turn, driving the advancement of the South Korean e-cigarette market. According to the estimates of P&S Intelligence, a market research company based in India, the valuation of the market will grow from $0.87 billion in 2018 to $3.5 billion by 2024. Access Report Summary - South Korea E-Cigarette Market Segmentation Analysis Report Furthermore, the market will grow at a CAGR of 24.3% between 2019 and 2024. Between the male and female populations, the consumption of e-cigarettes is currently higher in the former. This is because women are traditionally prohibited from smoking and using tobacco products in the country. However, with increasing urbanization and education and the launch of exhaustive marketing campaigns by e-cigarette companies, the consumption of e-cigarettes will increase among the females of the country in the coming years. Vaporizer, cig-a-like, T-Vapor, and vape mods are the major types of e-cigarettes consumed in the country. Amongst these, the sales of vaporizers were found to be the highest in the country in the past years. In the coming years, the demand for T-Vapors will rise rapidly in the country. “Ploom Tech” by Japan Tobacco Industries, “IQOS” by Philip Morris international plc, and “Glo” by British American Tobacco plc are the three major heat-not-burn product brands currently operating in the country. |
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September 2022
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