Metaverse Market Will grow the Fastest in the APAC Region The metaverse market will power at a rate of 43.7% by the end of this decade, to reach USD 1,525.7 billion by 2030. This is because of the increasing demand for metaverse for purchasing digital assets with the use of cryptocurrencies, as stated by a market research institution, P&S Intelligence. The software category will grow the fastest in the years to come. This is because of the growing requirement for AR/VR mobile app and web app development tools, SDK, AR/VR studios, and cloud-based tools. As a result of the initiation of avatar identity creators, decentralized and centralized gateways, and play-to earn games, the need for software for metaverse platforms is growing at the highest rate. The metaverse market in the APAC will record the highest rate, of over 50%, by the end of this decade, because of the growing usage of AR/VR and the budding digitization in India, Japan, China, and South Korea. While, North America was the market leader in the years gone by. This is because of the growing use of smartphones, increasing requirement for AR/VR in a number of applications, and growing acceptance of smart devices. Also, augmented corporate and individual outlay on digital solutions and novel technologies powers the growth of the market. The gaming category dominated the industry with the largest share of about 35%. The increasing trend of VR games in the industry is helping to surge the suitability of 3D and smart glasses. Education category will grow the fastest, with a rate of 50%, in the years to come. Both programmers and users can modify it by building anything from a virtual sporting ground to a metaverse organization. A teacher can clarify scientific discoveries to students while also bestowing them in an appealing 3D environment. Education specialists can construct virtual landscapes with the use of their lesson plans. The healthcare sector will grow at a rate of over 35%, by the end of this decade. Factors like the increasing pool of patients around the globe, the rising requirement for enhancing patient consequences, and tech advances in the healthcare industry will propel the industry growth in the years to come. For example, in December 2021, DHealth introduced a decentralized metaverse that takes a lot of doctors and patients to a novel world where they can cooperate, communicate in full 3D, and get virtual assets with the sales of their anonymized medical data. It is because of the growing requirement for metaverse in the gaming and entertainment, and the growing usage of metaverse for buying digital assets, the industry will continue to increase in the years to come, at a global level. Read More: https://www.psmarketresearch.com/market-analysis/metaverse-market

Why Are Automakers Opting for Spintronics Products? Spurring demand for magnetoresistive random-access memory (MRAM) and improvements in the field of spin-transfer torque MRAM (STT-MRAM) will drive the spintronics market at a CAGR of 34.8% during the forecast period (2020–2030). With this growth rate, the market value is expected to reach $12,854.6 million by 2030 from $362.7 million in 2019. Moreover, the escalating sales of electric vehicles (EVs) will support the market growth in the forecast years. The automotive industry uses spintronic sensors in EVs to enhance battery performance by monitoring the battery life and current flow. Automakers are using giant magneto resistance (GMR) and tunnel magneto resistance (TMR) in place of anisotropic magnetoresistance (AMR) sensors and Hall integrated circuits (ICs) for position sensing. The AMR sensors and Hall ICs consume nearly 10 mW of power under continuous usage, whereas TMR and GMR sensors consume power in the range of sub microwatt (μW) and milliwatt (mW), respectively, in the EVs. Moreover, potential application of spintronics in quantum computing is providing lucrative opportunities to players in the spintronics market. This technology works on the principle of spin orientation of electrons, i.e. if the spin is in downward direction, the state can be regarded as 1; and if the spin is in upward direction, the state can be contemplated as 0 or vice versa. Whereas, quantum computing depends on qubits, which can fill both the spin-down or spin-up position simultaneously. Thus, it accounts for a huge leap for quantum computing if qubit phenomena can be exploited through spintronics. The device type segment of the spintronics market is bifurcated into metal-based and semiconductor-based. In 2019, the metal-based category dominated the market, as the usage of ultrathin ferromagnetic films in metal-based devices allows the control of the spin of electronics by applying external magnetic field. This ensures low-energy consumption and high-speed data transfer. Whereas, in the forecast years, the semiconductor-based category will display the highest growth, on account of the rising deployment of 5G technology, increasing commercialization of spin transistors, and escalating adoption of internet of things (IoT) technology. Spintronic devices are largely adopted in the IT & telecom sector, due to the surging adoption of IoT devices and connected cloud technology and digital transformation of the industry. This has led to the high demand for reliable and stable data center network. In addition, the healthcare sector is also expected to deploy spintronics solutions to treat patients. Healthcare facilities are increasingly using spintronics-based magnetic sensors to detect tumor cells in human body. With the introduction of more advanced sensors, the adoption of these products is projected to surge in this sector. North America harnessed the maximum potential of spintronics during 2014–2019, on account of increasing application of cloud technology in the region. Cloud service providers like Google LLC, Microsoft Corporation, and Amazon Web Services Inc. have started deploying MRAM for cloud computing applications. Moreover, vast number of data centers is also contributing to the increased application of spintronics products. Whereas, the Asia-Pacific (APAC) region is expected to deploy these products at the highest rate, due to the spurring demand for IoT devices, EVs, and cloud storage in the region. Thus, the escalating demand for EVs and the developing field of quantum computing will propel the deployment of spintronic products in various end-use industries in the future. Read More: https://www.psmarketresearch.com/market-analysis/spintronics-market

Increasing Enactment of BYOD Policy Fueling Enterprise Mobility Management Market Boom Owing to the increasing penetration of the internet, mushrooming use of smartphones, and growing enactment of the bring-your-own-device (BYOD) policy at workplaces in several countries, the global enterprise mobility management (EMM) market is expanding rapidly. According to the forecast of the market research company, P&S Intelligence, the value of the market reached $16 billion in 2020. The market is also expected to exhibit explosive growth during 2021–2030 (forecast period). In recent years, the penetration of the internet has surged sharply in several countries. According to the World Bank, around 49.0% of people all over the world were using the internet in 2017. This is fueling the demand for enterprise mobility management solutions and services. In addition, the rapid advancements being made in technologies, such as artificial intelligence (AI), and the surging number of smartphone users across the world are also propelling the requirement for EMM solutions. This is because the various features of these solutions, such as the capability to update, control, and wipe the data of systems from a distance, provide flexibility to organizations. The other major growth driver of the EMM market is the increasing enactment of the BYOD policy by businesses. With the burgeoning requirement for higher employee productivity and efficiency and the mushrooming smartphone usage, owing to their availability at lower prices, many enterprises are enacting the BYOD policy. This policy allows employees to bring their own tablets, laptops, and smartphones to the office and install various enterprise mobility applications on them for accessing data. Based on component, the EMM market is divided into services and solutions. Between the two, the solutions category contributed higher revenue to the market in 2020, and it is predicted to demonstrate rapid expansion in the forthcoming years as well. This is attributed to the diverse range of EMM solutions being offered, such as identity and access management (IAM) and mobile device management (MDM) to small and medium-sized enterprises (SMEs) and large organizations across the world. The market is also classified, depending on deployment mode, into on-premises and cloud. Of these, the cloud category is expected to demonstrate huge expansion in the coming years, due to the rising popularity of cloud computing and AI-based solutions. Across the globe, North America dominated the EMM market in 2020. This was because of the presence of a large number of EMM solution providers, such as International Business Machines (IBM) Corporation and Citrix Systems Inc. and numerous end users in the region. Microsoft Corporation, IBM Corporation, BlackBerry Limited, Cisco Systems Inc., SAP SE, VMware Inc., Matrix42 AG, Beijing NationSky Network Technology Co. Ltd., MobileIron Inc., Snow Software AB, SOTI Inc., Sophos Group plc, Mitsogo Inc., Codeproof Technologies Inc., ZOHO Corp., 42Gears Mobility Systems, JAMF Software LLC, and Scalefusion UEM are some of the major companies operating in the EMM market across the world. These companies are increasingly focusing on partnerships and product launches in order to improve their industry position. Thus, the market will register substantial growth in the coming years, mainly because of the rising smartphone and internet penetration and the surging enactment of the BYOD policy at workplaces all over the world. Read More: https://www.psmarketresearch.com/market-analysis/enterprise-mobility-management-emm-market