North America to dominate the Global Augmented Reality & Virtual Reality Market – TechSci Research

Rising investments for research and development activities and growing digitization is driving the global augmented reality & virtual reality market growth for the forecast period.

According to TechSci Research report, “Global Augmented Reality & Virtual Reality Market By Product Type (Head-Mounted Display, Head-Up Display, Smart Glass, Handheld Device Applications) By Organization Size (Large Enterprises, Small- & Medium-sized Enterprises) By Offering (Hardware & Software) By Application (Consumer, Enterprise) By End User (Entertainment, Manufacturing, Healthcare, Defense, Consumer Electronics, Automotive, & Others), By Region, Company Forecast & Opportunities, 2026”, The global augmented reality & virtual reality market is expected to witness significant growth in the next five years. Augmented reality is a type of interactive environment that enhances the real-time environment by overlaying digital visual elements, sound, and other sensory elements. Augmented reality applications are developed by using 3-D technology enabling the users to interact in the real world in real-time. Virtual reality creates immersive experiences for the user with the help of headset devices and it has no connection with the real environment. The use of augmented reality in architecture to create the project of the building interior and get digital information on architectural models so that architects can make smart decisions is fostering the augmented reality technology demand in the next five years. The surge in the demand for online channels as they offer to pick up and delivery facility, online payments, quick navigation facility is extensively using the augmented reality to provide product enhanced experience to consumers. The demand from the tourism industry is also growing to attract more consumers by providing a virtual tour to landmarks, famous places, and eating spots to attract tourists to visit their place.

The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities across the globe, imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Disruption in the supply chain was observed which also affected the cross-border trade of devices. Also, the use of protective gear by the healthcare professionals boosted the demand for head-mounted display devices by the healthcare professionals which positively impacted the market growth.

However, slow growth in underdeveloped countries and lack of skilled professionals may restrain the global augmented reality & virtual reality market growth.

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Global augmented reality & virtual reality market is segmented into product type, offering organization size, application, end user, regional distribution, and company. Based on end user, the market can be divided into entertainment, manufacturing, healthcare, defense, consumer electronics, automotive, and others. The entertainment end user segment is expected to account for major market share in the forecast period, 2022-2026. The rising youth population across the globe and the increase in affordability of consumers to use advanced technologies is the major driver for the growth of this segment. The rise in demand for interactive gaming and the blooming gaming industry is also contributing to boost the growth of the entertainment segment. Based on application, the market can be bifurcated into consumer and enterprise. The consumer segment is dominating the market and is expected to maintain its dominance throughout the forecast period due to the increase in the adoption of augmented reality and virtual reality technology. Based on offering, the market is divided into hardware & software. The software offering segment is expected to hold a lion’s share in the next five years owing to the growing trend of creating games with the use of augmented reality and curating content with the help of virtual reality.

Alphabet Inc., DAQRI LLC, Facebook Inc., HP Inc., HTC Corporation, Magic Leap Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Toshiba Corporationare the leading players operating in global augmented reality & virtual reality market. Service Providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several augmented reality & virtual reality providers are coming up with their technologically advanced offerings.

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“With the developing healthcare sector and the rise in the adoption of advanced healthcare solutions to provide quality treatment to patients, the healthcare industry is adopting augmented reality and virtual reality technology to provide quality treatment to patients is boosting the market growth. The use of augmented reality in healthcare is enabling the healthcare professionals to view the patient’s body in 3-D view which further eases the treatment process and allows the healthcare professional to examine the cause of treatment efficiently. Also, the rise in demand for minimally invasive treatment offering several benefits including less post-operative pain, smaller incision, faster recovery time, among others is contributing to the surge the demand for augmented reality and virtual reality market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

According TechSci Research'Global Augmented Reality & Virtual Reality Market By Product Type (Head-Mounted Display, Head-Up Display, Smart Glass, Handheld Device Applications) By Organization Size (Large Enterprises, Small- & Medium-sized Enterprises) By Offering (Hardware & Software) By Application (Consumer, Enterprise) By End User (Entertainment, Manufacturing, Healthcare, Defense, Consumer Electronics, Automotive, & Others), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of global augmented reality & virtual reality market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global augmented reality & virtual reality market.

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Photovoltaic Noise Barriers Market To Grow With an Impressive CAGR During the Forecast Period

 Technological advancement is driving the growth in Global Photovoltaic Noise Barrier Market in the forecast period, 2022-2026.

According to TechSci Research report, “Photovoltaic Noise Barriers Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Application (Motorways, Roadways), By Installation (Cassettes, Shingles, Zigzag), By PV Module (Conventional, Bifacial), By Region”, the global photovoltaic noise barriers market would potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of surge in the demand for noise free environment.

Demand for the quieter and peaceful surroundings around sensitive areas like schools, hospitals, and residential areas is further driving the growth of the global photovoltaic noise barriers market in the upcoming five years. Also, rising awareness regarding conversion and utilization of renewable energy is further supporting the growth of the global photovoltaic noise barriers market in the next five years. Additionally, increased dependency over solar energy for various purposes including utilization of photovoltaic cells to convert solar energy into electricity and power sources is also substantiating the growth of the global photovoltaic noise barriers market in the future five years. Moreover, favorable functions of air quality improvisations, electricity generations, are well performed by the photovoltaic noise barriers and thus further aiding the growth of the global photovoltaic noise barrier market with the surging demand for the products and panels.

A highway noise barrier is an artificially installed physical obstruction that is created such that the excess noises being generated from the automotive, and industrial areas can be barred from noise sensitive receptors. Photovoltaic cells are installed over the noise barrier systems such that the processes of obstructing noise can be done along with renewable energy generation. These systems reduce noise by reflecting it back or forcing the sound waves to take longer path thus reducing the intensities of the sound.

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The global photovoltaic noise barrier market is segmented by application, installation, PV module, regional distribution, and competitive landscape. Based on installation, the market is further bifurcated into cassettes, shingles, and zigzag. Cassette installation of the photovoltaic cells over the noise barrier systems are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years. The growth can be attributed to the achievable noise absorption properties of the designs. Materials like ceramic, wood, etc. do not absorb the noise and to install photovoltaic cells on the noise barrier systems, cassette designs are the best possible noise absorption installation. Zigzag design is also favorable for such requirements and thus the surge in the demand for the kind of installation, and thus aiding the growth of the global photovoltaic noise barrier market in the next five years.

 Nu Watt Energy, Ko-Solar, Tecnoacustica S.R.L., GRAHAM Group, Solar Innova Renewable Energy, ETWAY SRL, Solar Impulse Foundation, Kohlhauer Noise Barrier Systems, Onyx Solar Group LLC, Trace Software International, are some of the market players holding the major shares of the global Photovoltaic noise barriers market. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through Photovoltaic noise barriers. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

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“Europe region is anticipated to dominate the market share on the account of surge in the demand for the renewable energy for various industries. Increased dependability over solar energy in the countries like Germany, United Kingdom, etc. is further aiding the growth of the regional market of photovoltaic noise barriers. Since the photovoltaic cells with larger panels over the noise barriers generate larger amount of energy from the solar energy, the demand for the system is increasing exponentially and driving the growth of the market. North America is also anticipated to significantly generate the demand for the photovoltaic noise barriers in the upcoming five years since the market in the region is quite mature, and with the increased awareness installation demands are further increasing and substantiating the growth of the global photovoltaic noise barrier market. New market players may focus on studying the consumer demands and extended research along with the smart product launches thus aiding their brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Global Photovoltaic noise barriers Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Application (Motorways, Roadways), By Installation (Cassettes, Shingles, Zigzag), By PV Module (Conventional, Bifacial), By Region”, has evaluated the future growth potential of global photovoltaic noise barriers and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global photovoltaic noise barriers market.

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Serbia Tire Market to be Valued at USD 0.21 Billion by 2026

 According to TechSci Research report, “Serbia Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, and Two-Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2016-2026”, Serbia tire market was valued at USD0.15 billion in 2020 and it is expected to witness 5.79%, in value terms, CAGR during the forecast period and reach USD0.21 billion in 2026. Key factors driving the growth of Serbia tire market are the country’s recovering economy and increasing demand for both passenger and commercial vehicles. The rise in sale volume of vehicles in the country is leading to expanding fleet size which in turn is generating high demand for tires. Moreover, Serbia is a candidate for the membership of the European Union and is one of the developing countries of the Balkan region. This also makes the country a profitable market for tire manufacturers in the coming years.

Furthermore, increase in vehicle sales is being supported by declining interest rates leading to affordable automobile financing in the country. The presence of most of the leading global automotive OEMs is also acting as a major growth factor for the Serbia tire market. Moreover, one of the main factors driving the automotive tire market in Serbia is high tire replacement ratio. Average life of the automobiles across the region has been increasing due to technological advancements and competition, resulting in higher replacement rate. As most of the population in Serbia prefers to travel by personal vehicles instead of public transport, it directly results in generating high demand for replacement tires.

In 2020, the market witnessed a significant slowdown, owing to the spread of COVID-19. According to a data published by the European Tire and Rubber Manufacturers’ Association (ETRMA), when the pandemic began to cause lockdowns across Europe, the first quarter of 2020 saw a substantial slowdown in sales. Furthermore, the full effect became more evident in the second quarter. In the first half of 2020, passenger car tires witnessed a decline of 22%, while two-wheeler tires market declined by 23%. Medium & heavy commercial vehicle sales were impacted by -14% and OTR tires saw a decline of 9%. After having been shut for an average of 33 days due to COVID-19, all tire manufacturers in Europe slowly resumed their production in May when most European countries eased their lockdowns.

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Serbia tire market is segmented based on vehicle type, demand category, radial vs bias and region. Based on vehicle type, the market can be categorized into passenger car, LCV, M&HCV, OTR, two-wheeler and three-wheeler. Among them, the passenger car segment held almost 90% of the market share in Serbia tire market until 2020. The trend is likely to continue during the forecast period and the segment is expected to hold around 90% market share by 2026 owing to rising per capita income of the consumers which is leading to increasing sale of passenger cars like sedans, hatchbacks, SUVs and luxury cars. Based on demand category, Serbia tire market is split into replacement vs OEM. Among the two, the replacement segment is expected to hold lion’s share in Serbia tire market during the forecast period. Due to continuing rise in the country’s overall vehicle fleet, the replacement tire segment is anticipated to hold more than 85% market share by 2026.

Leading market players in Serbia tire market are Cooper Tire & Rubber Company Serbia d.o.o., Toyo Tire Serbia LLC, Bridgestone Corporation, Continental AG, Hankook Tire d.o.o., Goodyear Dunlop Sava Tires, doo, ELASTIKA PIRELLI SA, The Yokohama Rubber CO., LTD., Nokian Tyres PLC and Michelin Tires. Moreover, key growth strategies being adopted by tire manufacturers are product innovation, mergers & acquisitions, collaborations and joint ventures.

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“Most of the leading global automotive OEMs such as Fiat, Nissan, Skoda, Renault, Mercedes, etc., are engaged in selling their automobiles in Serbia which is benefitting the growth of the tire market. Tire manufacturers are also focusing on increasing their production capacity in order to increase export and strengthen their position in the European tire market. Due to regulations, vehicle owners need to invest in winter tires and summer tires as winter tires are mandatory in the country during snow season coupled with entry of new tire manufacturers are positively influencing the growth of the market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Serbia Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, and Two-Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2016- 2026” has analyzed the potential of Serbia tire market, and provides information and statistics on market structure, size and trends. The report is designed to provide the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Serbia tire market. 

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MENA Bus and Coach Market to Reach USD 4472 Million by 2026

 Growing demand for Electric and Hybrid buses and continuously improving road infrastructure to drive the MENA Bus and Coach Market through 2026.

According to TechSci Research report“ MENA Bus and Coach Market By Length (6-8m, 8-10m, 10-12m, Above 12m), By Application By Type of Buses (Motor Coach, Mini Coach, Mid Coach, Double Decker Bus, Shuttle Bus, Others), By Application By Type of Usage (Public Transport, Tourist Bus, School Bus, Office Bus, Office), By Seating Capacity (Up to 30, 31-40, 41-50, Above 50), By Fuel Type (Diesel, Electric & Hybrid, Alternative Fuels, Fuel Cell, Petrol/Gasoline), By Body Type (Customizable, Fully Built), By Company and By Country (Bahrain, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Palestine, Sudan, Tunisia, Saudi Arabia, UAE, Algeria, Egypt, Iran, Rest of the World) Forecast & Opportunities, 2026”, MENA Bus and Coach Market is estimated to reach around USD4.47 billion by 2026. Growth in the MENA Bus and Coach Market can be attributed to the flourishing demand for Electric and Hybrid buses across the countries of the Middle East and Northern Africa. As the temperature across the MENA region continues to rise, governments across the region have started to take increasing global warming concerns more seriously. Due to the worsening climatic conditions, governments across the region are taking initiatives to reduce the greenhouse gas emissions in their countries. Electric buses are the only buses classified as Zero Emission Vehicles (ZEV). A Zero Emission Vehicle which runs on battery-fitted electric motor, does not use any alternate source of energy, and does not emit CO2. As of June 2021, according to Nasser BuShehab, Chief Executive Officer of the Roads and Transport Authority's strategy department of United Arab Emirates, “United Arab Emirates’ government plans to make public transport in Dubai emission-free by 2050, supporting the commitment of the UAE to the Paris Agreement on climate change to reduce the emissions in the UAE by 23.5% by 2030.” Due to the growing government initiatives to promote the use of electric buses and coaches, demand for electric buses and coaches is anticipated to increase in the forthcoming years across the Middle Eastern and North African countries. As fuel prices and concerns regarding safer environment are growing, several governments in the region are providing incentives and discounts on the purchase of buses and coaches, owing to various environmental benefits associated with these vehicles. Moreover, with growing demand for electric buses and coaches, the size of buses and coaches' fleet is expected to increase in the region.

The spread of the COVID-19 pandemic has created both public health and economic crisis across the world. Automotive industry has faced a high degrowth in the production of vehicles due to full and partial lockdown imposed in various countries to stop the spread of the COVID-19 virus, which forced the major automotive manufacturers to halt their production for a few months. Also, there was a decrease in the demand for new vehicles across the region as economy of various major countries in the region showed a dip during 2020 and unemployment across the region increased, which negatively impacted the average income of many families. The bus and coach market in the Middle East is majorly import driven due to the lockdown restrictions logistics and the supply chain was also severely affected. Many of the manufacturing companies could not complete their shipments due to the unavailability of port facilities and lockdown restrictions. Due to import restrictions, people were not able to buy buses and coaches, hampering the bus and coach market’s growth in the MENA region. As markets started to open in 2021, the sales of buses and coaches is starting to grow again and as a result the MENA Bus and Coach market’s recovery is anticipated to happen in around three years.

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MENA Bus and Coach Market can be segmented based on Length, Application By Type of Buses, Application By Type of Usage, Seating Capacity, Fuel Type, Body Type, Company and Country.

The MENA Bus and Coach market share based on Application By Type of Buses is divided into Motor Coach, Mini Coach, Mid Coach, Double Decker Bus, Shuttle Bus, with Mini Coach holding the majority of the market share in MENA Bus and Coach Market in 2020. The Mini Coach segment is getting neck to neck competition from the Mid Coach segment of the classification. Saudi Arabia, United Arab Emirates and Egypt collectively hold a significant market share of around 70% in the region.

Some of the major players operating in the MENA Bus and Coach Market are Tata motors Ltd., Toyota Motor Corporation, MAN Truck and Bus, and Yutong Bus Co. Ltd. Companies like Ashok Leyland, VDL, Xiamen King Long United Automotive Industry Co. Ltd., Hyundai Motor Corporation, Isuzu Motors, AB Volvo etc. are also increasing their marketing activities and enriching their product portfolio to increase their customer outreach.

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“In 2020, Saudi Arabia accounted for the largest share, i.e., 27.05% in the MENA Bus and Coach market. The country is expected to maintain its dominance over the next five years as well, but buses and coaches can be seen increasing in other countries of Middle East and África. Growing electric bus fleet and increasing tourism is boosting the demand for buses and coaches in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“MENA Bus and Coach Market By Length (6-8m, 8-10m, 10-12m, Above 12m), By Application By Type of Buses (Motor Coach, Mini Coach, Mid Coach, Double Decker Bus, Shuttle Bus, Others), By Application By Type of Usage (Public Transport, Tourist Bus, School Bus, Office Bus, Office), By Seating Capacity (Up to 30, 31-40, 41-50, Above 50), By Fuel Type (Diesel, Electric & Hybrid, Alternative Fuels, Fuel Cell, Petrol/Gasoline), By Body Type (Customizable, Fully Built), By Company and By Country (Bahrain, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Palestine, Sudan, Tunisia, Saudi Arabia, UAE, Algeria, Egypt, Iran, Rest of the World) Forecast & Opportunities, 2026” has evaluated the future growth potential of MENA Bus and Coach Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the MENA Bus and Coach Market.

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