Increasing Terrorism Fueling Sales of Physical Security Systems in Asia-Pacific | #asia-Pacific (APAC) Physical Security Market

How Is AI Improving Operations of Energy Management Systems? | #ai in Energy Management Market

Razor Market Will Hit $20,866.6 Million by 2030

The U.S. razor market size was more than $17,405.4 million in 2021, and it is expected to reach around $20,866.6 million by 2030, at a growth rate of about 2%. Gillette, a product of Procter and Gamble, is the industry dominator in the nation. According to various surveys, the demand for shaving and grooming products will increase rapidly among men in the near future.

The ever-growing innovations in technology has propelled the growth of the industry, as users are shifting their preference from razor blades to trimmers. The growing trend of beards has led to this change. According to consumers, electric trimmers help better in keeping beards.

Moreover, the women of the country are more conscious about hygiene than before. They prefer skincare products customized for specific types of skin, such as oily and dry. All this has created many opportunities for the stalwarts of the industry.

Post COVID, the easing of the lockdowns and the already established popularity of online channels boosted product sales. As offices opened, the need for looking presentable also came back. This allowed the industry to stabilize, and this stability is expected to be maintained in the coming years as well.

The cartridge razors category holds the major share in the razor market. The main reason for the cartridge razors becoming popular in the country is that they are both convenient and fast. Additionally, they are easily replaceable and lead to fewer cuts and bruises. Effective marketing is also a reason for the fast growth in the need for these razors, as a huge chunk of the population is happy to use multi-blade cartridge razors.

Electric razor sales will show a 5% CAGR in the future due to their long-lasting effects and low costs, along with the growing trend of growing beards. Moreover, one of the prime reasons for the industry growth is the increasing awareness of personal grooming. These days, both the genders are more conscious of their looks, spending more money and time than ever to maintain an agreeable appearance.

With grooming becoming a fashion statement, the male population is leaning toward spas and salons to get the best advice from professionals regarding looks. As per surveys by P&G, shaving is the largest category in men’s grooming.

Further, according to experts, the growth in male grooming and shaving activities would continue in the future, driven by the youth’s self-consciousness. In the same way, with the growing impact of the beauty sector, hair removal has become an important element of personal grooming among women.

They want to keep themselves smooth and clean. So, it can be easily said that the growing interest of both men and women in improving their appearance is driving the need for razors across the globe.

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Surging Prevalence of Cybercrimes Driving AI in Cyber Security Market

The global artificial intelligence (AI) in cyber security market revenue stood at $8.6 billion in 2019, and it is predicted to surge to $101.8 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 25.7% from 2020 to 2030 (forecast period). The increasing digitization rate in several industries, growing penetration of mobile internet, shift from conventional banking to digital banking, and soaring investments being made by financial institutions, information technology (IT) companies, and governments in the AI technologies are the main factors driving the market.

The growing prevalence of cybercrimes is one of the major factors fueling the expansion of the AI in cyber security market. As per the U.S. Government Accountability Office (GAO) in August 2019, the cases of cybercrimes are rising sharply in the country in spite of the implementation of strict security measures. Cyber frauds, such as payment card and identity thefts, account for more than 55% of all cybercrimes, and they cause huge losses to businesses, if not addressed quickly. Moreover, AI-based solutions tackle cyber fraud by reducing response time, identifying threats, and refining strategies for distinguishing attacks that need immediate attention.

Besides the aforementioned factor, the growing implementation of the bring-your-own-device (BYOD) policy at workplaces around the world is also fueling the expansion of the AI in cyber security market. This policy is not only increasing productivity but also improving employee satisfaction. However, the policy is making corporate data highly vulnerable to cybercrimes as the devices of employees have various capabilities and the IT professionals may not be able to fully qualify, approve, and evaluate each and every device.

Depending on offering, the market is divided into software, services, and hardware categories. Out of these, the hardware category contributed the highest revenue to the market in the past. Whereas, the software category is predicted to exhibit the fastest growth in the market during the forecast period. AI systems require different types of software, such as application program interfaces (APIs), like language, vision, sensor, and speech data and machine learning (ML) algorithms to operate applications for cyber security.

Geographically, the Asia-Pacific (APAC) region is expected to be the fastest-growing region in the AI in cyber security market throughout the forecast period. This is attributed to the surging number of customers inclining toward plastic card and online payments via wireless or wired networks and the growing incidence of cyberattacks in the region.IN addition, the growing need for safer transactions, owing to the soaring occurrence rate of cybercrimes and rising digitization of operations, is also driving the progress of the industry in the region.

Hence, it is safe to say that the demand for AI in cyber security will shoot up in the coming years, primarily because of the rising prevalence of cyberattacks, shift from conventional banking to digital banking, and rapid digitization of business operations all over the world.

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Heat Stress Monitor Market To Generate $62.5 Million Revenue in 2030

Factors such as the surging adoption of heat stress monitors in athletics and military applications, rising global temperature, stringent safety regulations for heat stress management, growing awareness about heat-related diseases, and increasing need for heat stress monitors in the oil & gas and mining industry are expected to accelerate the heat stress monitor market at a CAGR of 2.7% in the forecast period (2020–203. At this growth rate, the market is projected to reach $62.5 million by 2030 from $51.4 million in 2019.

The heat stress monitor market is witnessing technological advancements in the heat stress monitoring field. For instance, the Qatar Mobility Innovations Center (QMIC) has launched an internet of things (IoT)-based smart heat stress monitoring solution, which is an automated system for supporting safety management and public health. The key objective of the solution is to calculate and monitor the real-time heat stress index (HSI) of employees. Thus, it has allowed for the protection of workers from heat-related diseases.

One of the most-significant growth drivers for the heat stress monitor market is the surging adoption of such devices in athletics and military applications owing to the hostile effects of heat on the performance of individuals. Rigorous physical activities in training for long durations expose athletes and military personnel to significant heat stress due to the production of high ambient and metabolic heat. This equipment monitors sportsperson and military personnel’s health in real time, during training, and alerts them about the limit of heat stress.

The application segment of the heat stress monitor market is categorized into mining and oil & gas, athletics & sports, military, and manufacturing plants. Among these, the mining and oil & gas category accounted for the largest market share in 2019. This is due to the fact that in this industry, employees are exposed to significantly hotter conditions in comparison to other industries. This factor leads to heat-related diseases like heat exhaustion, cramp, rashes, and heatstroke, which can put the lives of workers at risk.

Moreover, the heat stress monitor market is classified into globe thermometer, dry bulb, natural wet bulb, humidity, and airflow, on the basis of sensor type. The globe thermometer category accounts for a significant market share as this thermometer is widely used in the mining and oil & gas industry. In such devices, a metal globe protects sensors from heat and external radiation and measures accurate air temperature in an area. This thermometer is also used in manufacturing plants due to its durable nature.

Geographically, North America held the largest share in 2019, and it is expected to witness the same trend in the coming years. This is attributed to the mandatory safety standards for employees in workplaces set by several government organizations, like the Occupational Safety and Health Administration (OSHA) and National Institute for Occupational Safety and Health (NIOSH). These standards have forced sectors, such as industrial manufacturing, chemical, petrochemicals, and mining and oil & gas, to deploy heat stress monitors for monitoring heat radiation and the associated stress on employees.

Thus, the surging adoption of heat stress monitors in athletics and military applications and their increasing requirement in the oil & gas and mining industry will fuel the market growth in the forecast years.

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