The Rise of Haptic Technology: Driving Forces and Market Growth

 

Haptic technology refers to a technology that can create an experience of touch by applying forces, vibrations, or motions to the user. This technology is utilized in a wide range of applications such as automotive interfaces, medical training, gaming, and virtual reality. The goal of this technology is to simulate the sensation of touch with several mechanisms. Also, this technology can offer a more immersive experience to the users by allowing them to feel and interact with virtual objects as if they were real. There are several types of haptic technology which include Force feedback, Tactile feedback, and Motion feedback. Further, it is a crucial sector that is constantly rising, and it has the potential to revolutionize how we interact with computers and other devices in the future.

Haptic Technology Market Key Factor Driving Growth:

·        The growing demand for haptic technology in mobile devices is propelling the growth of the global haptic technology market and is predicted to maintain its dominance over the forecast period as the adoption of tablets and smartphones is rising rapidly.

·        Development in the automotive sector is the other factor driving the global market as haptic technology is progressively utilized in the automotive sector for enhancing safety as well as driver experience.  

·        Another factor enhancing the growth of the market is virtual reality and augmented reality technologies as these technologies boost the users' experience and make it more immersive.

·        Growing investment in research and development of haptic technology is predicted to uplift the industry's growth as it enhances the evolution of new and innovative products.  

·        Further, medical technology is considered the major factor expected to propel the industry share over the assessment period as this technology is utilized in medical devices and simulations to boost the accuracy and realism of medical procedures.

However, the absence of standards and huge costs are the major factors restricting the growth of the global haptic technology market. Also, limited applications and limited compatibility are the other factors hindering the industry's growth. Further aspects predicted to uplift the global market are regulatory issues and the absence of awareness. 

As per the study published by Emergen Research in March 2023, the global haptic technology market size was USD 2.90 Billion in 2022 and is predicted to reach a revenue CAGR of 12.0% over the projection period. Also, the study enlists various important factors, starting from the basics principal to advanced market intelligence which plays a vital part in strategizing. 

For instance, as per the Global System for Mobile Communications Association, there will be 5.9 billion distinct users globally by 2025. Growing acceptance of haptic technology in the electronics sector is anticipated to boost the market share over the forecast period due to the several advantages such as improved sound, touchscreen, and visual effects in display touch applications.

Additionally, in February 2021, Immersion Corporation and Faurecia Corporation approved a multi-year licencing deal to allow Faurecia to purchase Immersion's haptic technology solutions. Faurecia will be able to design an intricate, interactive haptic user interface using cutting-edge technology from Immersion Corporation.

The leading players operating in the global haptic technology market include Texas Instruments Incorporated, Analog Devices, Inc., Microchip Technology Inc., Semiconductor Components Industries, LLC, Precision Microdrives Limited, NIDEC COPAL ELECTRONICS, Synaptics Incorporated, Cypress Semiconductor Corporation, Samsung, Johnson Electric Holdings Limited, Methode Electronics, Apple Inc., SMK ELECTRONICS CORPORATION U.S.A, Immersion, ALPS ALPINE CO., LTD., Visteon Corporation, and AAC Technologies.

In conclusion, haptic technology is anticipated to grow at a significant rate over the projection period. There are several factors responsible for global market enhancement that includes rising awareness and advantages of haptic technology. Further, the technology has been progressively utilized in several applications that include automotive, healthcare, gaming, and virtual reality, among others.

Understanding Consumer Identity and Access Management: Benefits, Components, and Trends

 

Consumer Identity and Access Management helps organizations securely capture and manage customer identity and profile data. Also, it controls customer access to applications and services. The components involved in the CIAM solutions include Identity verification and validation, User registration and authentication, Consent and preference management, Profile management, Access control, and authorization, and Analytics and reporting. Further, these solutions are utilized by various industries such as healthcare, retail, entertainment, and banking, to offer secure and personalized digital experiences to their customers.

The factors enhancing the growth of the Consumer Identity and Access Management Market include:

·        Rising awareness about data privacy and security is propelling the growth of the consumer identity and access management market as cyber-attacks and high-profile data breaches making headlines regularly so consumers become more aware of the importance of protecting their personal data.

·        Growing acceptance of digital technologies is driving the growth of the market as the requirement for secure & reliable identity and access management solutions is rising to secure customer data and ensure seamless user experiences.

·        Increasing demand for personalized and seamless customer experiences across various channels and devices is propelling the growth of the market as these solutions help in providing personalized experiences to customers by capturing and controlling customer data, preferences, and behaviors.

·        Rising demand for cloud-based CIAM solutions is anticipated to boost the market as the appearance of cloud-based CIAM solutions offers various advantages over traditional on-premises solutions, that includes flexibility, scalability, and cost-effectiveness.

According to a study published by Emergen Research, Consumer Identity and Access Management Market Size was valued at $9.80 billion in 2022 and is estimated to reach a revenue CAGR of 15.3% over the projection period.

However, the absence of awareness and data privacy coupled with compliance concerns are the major factors restricting the growth of the global consumer identity and access management market. Further, huge cost and completion are the other factors anticipated to hinder the growth of the market over the foreseen period.

The increasing investment by major companies in the evolution of consumer identity and access management is another trend uplifting the growth of the global market. Major companies are investing heavily in the development of the industry to gain a competitive advantage in the market.

Some of the major players in the global identity and access management market include Amazon Web Services, Inc., One Identity LLC., Broadcom, IBM, Okta, ForgeRock, OneLogin, Intel Corp., McAfee, LLC, Ping Identity, HID Global Corp., SecureAuth, Evidian, Microsoft, and Oracle.

For instance, in May 2022, WSO2, an industry-leading, cloud-native, and open-source technology for API management, integration, and customer identity and access management (CIAM) company, announced that the company had completed its Series E funding round with the addition of RedStart Labs (India), a subsidiary of Info Edge. The move brings the total growth capital raised to USD 93 million.

In conclusion, the customer identity and access management market is poised for significant growth over the forecasting period, driven by the rising requirement for businesses to offer secure and seamless digital experiences to their customers. Further, as more businesses recognize the importance of CIAM solutions, the industry is anticipated to become highly competitive, with companies vying for market share through innovation and strategic partnerships.

The Advantages and Challenges of IoT in Smart Cities: A Comprehensive Overview

 

The Internet of Things (IoT) is the connection of everyday devices to the Internet, allowing them to send and receive data. The smart city utilizes Internet of Things (IoT) sensors in urban areas to collect data and automate systems that include energy use, traffic, and waste management. By doing this, smart cities enhance the efficiency of urban services, reduce costs, and offer a higher standard of living. A few examples of IoT devices in Smart Cities include smart energy systems, smart traffic systems, smart waste management, smart public safety, smart lighting, and others. Further, the IoT is anticipated to play a crucial role in enhancing energy efficiency and sustainability in smart cities. Additionally, the advantages of IoT in smart cities include smart parking, remote monitoring, smart traffic management, waste management, public safety, and others.

The research report released by Emergen Research offers high quality information about the global Internet of Things in Smart Cities Market which includes a market size was USD 152.85 Billion in 2022 and is predicted to reach a CAGR of 19.0% over the foreseen period. The key opportunities that the IoT provides in the smart cities market are smart waste management, smart buildings, smart transportation, smart security, and smart energy. Further, the IoT provides a vast range of opportunities for enhancing the sustainability, efficiency, and livability of smart cities. As the technology is growing rapidly, it is anticipated to see even more innovative uses of IoT in smart city applications in the approaching years.

The major factors enhancing the growth of the global Internet of Things in the Smart Cities Market include increasing demand for connected devices as the number of these devices is growing continuously. Growing urbanization is another factor propelling the growth of the industry as it leads to a boost in demand for smart city solutions. Also, rising government initiatives towards smart cities are anticipated to boost the global Internet of things in smart cities market size over the projection period. Further, environmental concerns and technological advancement are the other factors propelling the industry share and are predicted to maintain their dominance over the projection period. Additionally, the industry is anticipated to experience considerable growth over the foreseen period, as more cities accept smart city solutions and the technology continues to advance.

However, huge costs and privacy & security concerns are the major factors restricting the growth of the market. Also, limited connectivity infrastructure and the absence of interoperability standards are the other factors expected to hinder the growth of the global industry.

For instance, the Indian Government planned to invest USD 7.51 billion in 2016 to transform 100 present cities into intelligent cities. Also, as per the article published by the American Society of Mechanical Engineers in February 2020, the Singapore government initiated the deployment of solar panels installed on rooftops of 6,000 buildings and intellectual, energy-efficient lighting for every public road by 2022.

The major companies in the global IoT in smart cities market include IBM (US), Intel (US), Cisco (US), Huawei (China), Tech Mahindra (India), Microsoft (US), Siemens (Germany), Bosch (Germany), Honeywell (US), PTC (US), ARM (England), Schneider Electric (France), Quantela (US), Sierra Wireless (Canada), Hitachi (Japan), Youon (China), Deutsche Telekom (Germany), SAP (Germany), Confidex (Finland), AGT International (Switzerland), Verizon (US), Takadu (Israel), Enevo (US), Optibus (Israel), Signify (Netherlands), AppyWay (UK), FlamencoTech (India).

Top 5 Reasons to Invest in the Mobile Mapping Market

 

Mobile mapping refers to the gathering of geospatial data utilizing mapping sensors mounted on moving platforms that include marine vessels, cars, or airplanes. This technology includes the utilization of several types of sensors, such as accelerometers, cameras, GPS, and gyroscopes, to collect data that can be utilized for a variety of applications. The major advantage of mobile mapping is that it enhances scanning efficiency. Also, on the basis of application, the mobile mapping market is categorized into topographic mapping, road surveys, asset management, 3D modeling, and other applications.

The research report added by Emergen Research is an in-depth analysis of a global Mobile mapping market that includes characteristics, segmentation, regional & country breakdowns, competitive landscape, market shares, trends, and strategies for the mobile mapping market. Also, it includes the market size was USD 32.13 Billion in 2022 and is predicted to reach a CAGR of 19.5% over the foreseen period.

Here are the top five reasons why you should invest in the Mobile Mapping Market:

·        Rising Demand: The increasing utilization of tablets, smartphones, and other mobile devices is propelling the demand for mobile mapping services and is anticipated to maintain its dominance over the assessment period. As the services are utilized for a wide range of applications, such as urban planning, transportation, navigation, logistics, and others.

·        Market Size: Market size is another factor responsible for investing in the market as it is anticipated to grow crucially over the assessment period with the growing investments in smart city projects and infrastructure development. Also, as per the report by Emergen Research, the global mobile mapping market size is anticipated to reach a CAGR of 19.5% over the projection period.

·        Technological Advancements: Advancement in technology in the mobile mapping sector is anticipated to uplift the growth of the industry as it offers more reliability, accuracy, and cost-effectiveness. Also, the technologies include AI, LiDAR, and machine learning.

·        Diversification: Diversification is considered the major factor expected to boost the mobile mapping industry as it can offer diversification advantages to a portfolio, and it is not tied to the performance of any specific industry or sector. Also, as the industry continues to rise, there might be opportunities for long-term investment and capital appreciation.

·        Competitive Outlook: The mobile mapping industry is highly competitive, with various established players and new entrants vying for market share. This competition drives innovation and ensures that customers have access to a vast range of high-quality products and services.

Key Factors Enhancing the Growth of the Industry:

·        Rising demand for location-based services is propelling the global mobile mapping market and is predicted to maintain its dominance over the foreseen period. 

·        Rising acceptance of autonomous vehicles is the other factor driving the growth of the industry.

·        Increasing government initiatives and regulations towards the industry is expected to uplift its growth of the industry.

·        Growing location-based advertising is also a significant factor predicted to enhance the market share over the foreseen period.

However, limited battery life and huge cost are the major factors restricting the growth of the market. Further, regulatory challenges and data privacy & security concerns are the other factors predicted to hinder the growth of the market over the projection period.

Overall, the mobile mapping market is predicted to grow at a rapid rate over the assessment period, as demand for real-time mapping and location-based services keeps up rising. Also, the market is anticipated to be driven by technological advancement and growing demand for accurate and detailed mapping solutions.

Diagnostic Imaging for Animals: The Role of Veterinary Imaging Technology

 

Veterinary imaging refers to the field of veterinary medicine that involves the collection of medical images of animals in order to diagnose diseases and bone fractures. It is a range of tests utilized to create images of parts of the body. Veterinary imaging technology includes ultrasound, X-rays, magnetic resonance imaging, computed tomography, and nuclear imaging. Also, the most commonly utilized imaging technique in veterinary medicine is X-rays. X-rays can diagnose tumors, foreign bodies, fractures, and other abnormalities in bones and soft tissues. This technique permits doctors to diagnose diseases in the early stages, which leads to better outcomes for the patient

As per the recent report released by Emergen Research, the global Veterinary Imaging Market size was USD 1.65 Billion in 2021 and is anticipated to reach a CAGR of 6.1% over the assessment period. The major factors driving the global veterinary imaging market size include rising pet ownership, especially in evolved countries. The growing frequency of chronic diseases in the pet is the other factor enhancing the global market share and is predicted to maintain its dominance over the foreseen period. Also, rising animal health expenditures and government initiatives are anticipated to boost the growth of the market over the projection period.

However, the absence of skilled professionals and huge costs are the major factors restricting global market growth. Also, regularity issues and safety concerns are the other factors anticipated to hinder global market growth.

Top 5 Reasons to Invest in Veterinary Imaging Market:

·        Increasing demand for veterinary diagnostic services: As the pet population is rising animal healthcare spending is also rising which is anticipated to boost the veterinary imaging market over the assessment period.

·        Technological Advancements: Advancement in veterinary imaging technology is another factor responsible for investing in the industry as it offers detailed diagnostic and more accurate information. Also, it made the process faster and more efficient.

·        Growing Veterinary Sector: The veterinary industry is rising at a rapid rate, with more veterinary clinics and hospitals opening up every year. This growth is anticipated to continue in the coming years, which will propel the demand for veterinary imaging services.

·        Increasing Awareness of Animal Health: The growing awareness about animal health and welfare is predicted to enhance the veterinary imaging market over the assessment period as pet owners are becoming more sensible about regular veterinary care. Also, regular checkups and diagnostic imaging are to identify and treat any potential health issues before they become serious.

·        Growing Chronic Diseases Among Pets: The growing frequency of chronic diseases in pets including cancer is anticipated to uplift the global veterinary imaging market share. As chronic diseases need regular monitoring and imaging to track their progression and treatment. Also, it is predicted to boost the global market demand over the projection period.

Conclusion

The veterinary imaging market is anticipated to grow at a considerable rate over the assessment period due to the growing demand for animal healthcare services and the evolution of advanced imaging techniques. Also, the veterinary imaging market is a rapidly rising industry that plays a crucial role in animal healthcare. It includes the utilization of several diagnostic imaging techniques that includes ultrasound, X-rays, CT scans, and MRI scans to detect and treat animals.

Further, the growing acceptance of companion animals and the rising number of veterinary clinics and hospitals globally are propelling the growth of the industry. Additionally, the enhancing factors of the market include the increasing demand for pet insurance and pet care, the rising prevalence of animal diseases, and the evolution of advanced veterinary imaging techniques.

Navigating the Complexities of Quantum Sensors: Key Considerations for Industry Entry

 

Quantum sensors are advanced sensors that highly enhance the accuracy of how we measure, see, study, navigate, explore, and interact with the world around us by sensing changes in motion, and electric as well as magnetic fields. These sensors are utilized for a wide variety of fields such as positioning systems, microscopy, electric & magnetic field sensors, communication technology, and the geophysical areas of research that include mineral prospecting and seismology. Also, there are various types of quantum sensors that include atomic clocks, quantum gyros, quantum magnetometers, quantum microscopes, quantum thermometers, and others. Further, the major advantage of these sensors includes it can measure various physical properties, such as magnetic field, temperature, and rotation, with extreme sensitivity.

The fresh report published by Emergen Research offers a 360-degree analysis of the global Quantum Sensors Market which includes a market size was USD 290.0 Million in 2022 and is anticipated to reach a CAGR of 14.6% over the projection period. The factors propelling the global quantum sensors market include increasing government and private investment in quantum technologies, rising demand for highly sensitive sensors, and growing acceptance of quantum computing. Also, technological advancement in nanotechnology & miniaturization and rising demand for secure communication are the other factors driving the growth of the quantum sensors market.

However, complexity and huge development cost are the major factors hampering the growth of the quantum sensors market. Further, lack of standardization and competition from traditional sensors are the other factors predicted to restrict the industry growth over the assessment period.

If you’re looking to enter the Quantum sensors industry, there are a few things you should keep in mind.

·        Quantum sensors are based on the principles of quantum mechanics. Therefore, it is crucial to have an in-depth knowledge of quantum physics and its applications before entering this industry.

·        Competition is another factor you must have a clear understanding of and how you can differentiate your product from others in the market as the quantum sensors market is highly competitive.

·        Investment is considered as the major factor a person should keep in mind while entering the quantum sensors market as the industry is relatively new and requires considerable investment in research & development, and infrastructure. Also, the investment may require patience and a long-term view.

·        Customer awareness is the crucial aspect of entering the industry as it is new and relatively unknown technology. Also, it is important to inform about the advantages of these sensors and how they can be used in various industries.

·        As the industry is new, it requires a collaborative approach. Also, it is crucial to identify potential partners and collaborators and work closely with them to evolve and commercialize your products.

Key Factors Driving the Quantum Sensors Market:

Rising acceptance of quantum technologies:

The growing acceptance of quantum technologies in several sectors, such as defense, healthcare, and aerospace, is a major factor propelling the quantum sensors market size.

Growing demand for accurate and highly sensitive sensors:

The increasing demand for accurate and highly sensitive sensors is enhancing the quantum sensors market as it offers more accuracy and is highly sensitive as compared to traditional sensors.

Growing investment in research and development:

The rising investment in research and development of the quantum sensors industry is anticipated to boost the market share as it offers advanced and new quantum sensors.

Rising government initiatives:

Rising government initiatives towards the sector are expected to enhance the global market size over the foreseen period as the government is spending more on evolving sectors like quantum sensors and others.

Overall, the key players in the industry are investing steadily in research and development to enhance the technology and expand its applications. The market is predicted to grow at a rapid rate as the demand for these sensors is rising in industries including healthcare and defense.

Streamlining Event Management with Automation and Cloud-Based Solutions

 

Event Management Software is a type of software that helps organizers plan, execute and report on events, uplifting success for their business. It offers a centralized platform for directing all aspects of an event, such as ticketing, registration, attendee management, scheduling, communication, and reporting. The major advantages of event management software include attendee management, registration and ticketing, scheduling, communication, reporting and analytics, integration, and marketing. Further, this software offers a complete solution for event organizers to lead events more efficiently, increase attendee engagement, and enhance event outcomes.

In accordance with the recent report released by Emergen Research, the Event Management Software Market size was USD 7.43 Billion in 2022 and is predicted to reach a CAGR of 12.8% over the projection period. Also, the report enlists several important factors, starting from the basics principal to advanced market intelligence which plays a vital part in strategizing.

The increasing demand for automation is one of the major factors propelling the global event management software market as it can automate several time-consuming tasks that include ticketing, registration, and payment processing. Also, it helps event organizers save time and focus on providing a better event experience.

Growing acceptance of cloud-based solutions is driving the growth of the global market as it made it easier for event management software vendors to provide their solutions as a service, removing the requirement for customers to install and maintain software on their own servers.

The rising utilization of mobile devices is one of the major trend enhancing the growth of the market as the majority of people use mobile devices to access the internet, event management software vendors are evolving mobile-friendly solutions that permits attendees to register, purchase tickets, and receive event updates on their smartphones and tablets.

The requirement for better data management is considered the key factor anticipated to boost the global market share over the assessment period. As the event management software can capture valuable data about attendees, that includes their interests, demographics, and behavior. Also, this data can be utilized for enhancing future events and targeting marketing efforts more effectively.

Further, the development of the events industry with a rising number of conferences, trade shows, and other types of events being held globally is predicted to enhance the growth of the event management software market over the projection period. As it helps the organizers to manage events more efficiently and effectively.

However, huge costs and an absence of awareness are the major factors restricting the growth of the global event management software market. Further, security concerns and technical barriers are the other factors hindering the industry's growth. In addition, limited customization and integration challenges are considered the major factors expected to hamper the growth of the industry.

For instance, in June 2021, Canapii developed its new online-focused software market using Amazon Web Services. Canapii has assisted companies in designing and hosting engaging virtual episodes that include live-streamed content with real-time multiple languages captioning, polling, Q&A, and other features. 

Some of the major players operating in the global event management software market include Aventri, Active Network, Bizzabo, Cvent, Certain, Eventbrite, Eventzilla, Eventmobi, Hopin, Meeting Evolution, Xing Events, Regpack, Rainfocus, Ungerboeck, Zoho. These market players are pursuing several strategic initiatives, such as mergers & acquisitions, and strategic partnerships & collaborations, as part of their efforts to cement their position in the market and gain a competitive edge.