Artificial Intelligence
Global Eco Fibre Market is Predicted to Reach USD 80.11 billion by 2028 : Fior Markets
Newark, NJ, Oct. 21, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global Eco Fibre market is expected to grow from USD 52.2 billion in 2021 and to reach USD 80.11 billion by 2028, growing at a CAGR of 5.5% during the forecast period 2021-2028.
The eco fibre market is witnessing significant growth from the past years. This growth is attributed to growing concerns about the harmful environmental impacts of synthetic fibres which has contributed to the increased demand for environmentally friendly organic fibres. The use of chemicals and polymers in the production of synthetic fabrics is expected to limit order in the textile sector. Increasing awareness of sustainable textile manufacturing to meet environmental and social aspects, such as reducing pollution, is expected to fuel demand for eco-fibres worldwide over the forecast period. The textile industry is the primary consumer of ecological fibres. Fashion should remain one of the most profitable application segments. Furthermore, the emergence of e-commerce portals such as shopping portals that provide favourable discounted packages and free delivery services is expected to increase clothing consumption, thus leading the market. Growing environmental concerns, coupled with the volatile prices associated with conventional fabrics, have spurred eco-friendly fibres in the global market. Favourable regulations on the production of organic products and severe environmental sanctions on synthetic polymers are also expected to have a positive impact on market growth.
Eco Fibre is referred to as fibres made from renewable materials, such as jute, organic cotton and hemp. These are made with synthetic materials such as polypropylene and polyethylene, recycled and transformed into eco-fibres. Waste materials are recycled to be reused in this process. Plastic, metal and glass waste is now being recycled in various sectors. One of the biggest problems facing the planet is environmental destruction. Increasing urbanization is creating landfill pollution. Favourable regulations for the expansion of bioproducts and strict environmental controls on synthetic polymers are expected to positively influence the development of the eco-fibre market. Governments of various countries are taking steps to increase bio-based products and thus lead the eco-fibre market.
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The global eco fibre market is expected to witness significant growth, owing to increasing concerns about the harmful impacts of using synthetic fibres on the environment. Technological advances in terms of developing eco-friendly fibre fabrics that offer antimicrobial, hypoallergenic, insulating, UV resistant, highly breathable and absorbent characteristics should promote their importance in the apparel market, in the fast-growing online fashion market. Increasing disposable income and developing quality, innovative fabrics, regulations have been imposed on the production and disposal of synthetic sources of fibre production in economies that have shifted preference towards bio-based alternatives, such as organic cotton, hemp and others sources of ecological fibres. Factors holding back market growth are the rapid rise in prices for organic cotton and other environmentally friendly alternatives in developing and underdeveloped regions, the high costs of fertilizers, the expensive equipment required for organic production, and the frequent crop failures due to climatic irregularities. Strict environmental regulations formulated by the government will provide market growth opportunities.
Key players operating in global eco fibre market include US Fibers, China Bambro Textile (Group) Co., Ltd., Polyfibre Industries, Grasim Industries Ltd., Lenzing AG, Shanghai Tenbro Bamboo Textile Co. Ltd., Pilipinas Eco fibre Corporation, Teijin Limited, Wellman Advanced Materials, David C. Poole Company, Inc., Foss Performance Materials. To gain a significant market share in the global eco fibre market, the key players are now focusing on adopting strategies such as application innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. US Fibers and Wellman Advanced Materials are some of the key manufacturers operating in Eco Fibre market.
- For instance, in 2019, Lenzing AG launched world’s largest dissolving wood pulp plant in Brazil. This launch strengthened the position of the company across the world.
Manmade segment dominated the market and held the largest market share of 60.9% in the year 2020
Based on product, the global eco fibre market is segmented into natural, manmade/artificial, recycled, and organic. The Manmade/artificial segment dominated the market and held the largest market share of 60.9% in 2020. This growth is attributed to the rising demand for textile fibres free from harmful chemicals and growing concerns about the harmful environmental effects of using synthetic fibres.
Textile/Apparel segment dominated the market and held the largest market share of 59.15% in the year 2020
Based on application, the global eco fibre market is segmented into medical, industrial, textile/apparel, and household & furnishing. The textile/apparel segment dominated the market and held the largest market share of 59.15% in the year 2020. This growth is attributed to the rising demand for casual wear, formal wear, and fashionable clothing among all age groups and increasing use of luxury and trending trendy clothes, especially among youth and adult populace, increasing demand for household textiles, including carpets and rugs, curtains, chair seating, sofa cushions, and covers, and other home furnishings.
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Regional Segment of Eco Fibre Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global eco fibre market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 45.16% in the year 2020. This growth is ascertained by the Asia-Pacific region owing to rising awareness regarding the sustainable production of textiles, coupled with increasing demand for recycling fashion and organic clothing in the country. The changing consumer preference for smooth textured fabrics across the region will propel the market growth. The Asia-Pacific region is witnessing significant growth in India and China, ascertaining the growing demand for apparel and sustainable textiles. The market in North America is expected to witness substantial growth, owing to the high demand for advanced antibacterial and antimicrobial treated materials in the country.
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About the report:
The global eco fibre market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
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Artificial Intelligence
AI In Life Science Analytics Market worth $3.56 Bn by 2031 – Exclusive Report by InsightAce Analytic Pvt. Ltd.
JERSEY CITY, N.J., May 2, 2024 /PRNewswire/ — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global AI In Life Science Analytics Market – By Component (Software, Hardware, Services), By Deployment (On-premise, Cloud), By Application (Research and Development, Sales and Marketing support, Supply chain analytics), By End-user (Medical Devices, Pharmaceutical, Biotechnology)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global AI In Life Science Analytics Market is valued at US$ 1.63 Bn in 2023, and it is expected to reach US$ 3.56 Bn by 2031, with a CAGR of 10.39% during the forecast period of 2024-2031.
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AI in the context of life science analytics refers to the use of AI techniques and tools for the analysis of biological as well as environmental data. With the use of artificial intelligence (AI), life science analytics may make better use of complex healthcare, medical, and scientific information by applying high-level computational algorithms.
The goal of life science analytics is to find useful patterns in massive amounts of medical, clinical, and biological data by applying various data analysis tools and techniques. Because of its superior computing and learning capabilities, AI is indispensable in improving life science analytics. The demand for more accurate and tailored techniques in healthcare and the life sciences, together with the rising availability of data, is projected to propel artificial intelligence in the life science analytics market to new heights as the discipline undergoes more development.
Pharmaceutical spending on complex diseases like cancer is on the rise, which is fueling the expansion of artificial intelligence in the life science analytics industry. However, implementing artificial intelligence (AI) solutions can be prohibitive for smaller organizations, making investing in the necessary technology and training difficult.
List of Significant Players in the AI In Life Science Analytics Market:
IndegeneLexalyticsDatabricksSAS Institute Inc.SisenseIQVIAIBMSorcero AtomwiseNuMediiAiCure LLCNuance CommunicationsAPIXIO, IncInsilico MedicineOther Market PlayersAI In Life Science Analytics Market Report Scope:
Report Attribute
Specifications
Market Size Value In 2023
USD 1.63 Bn
Revenue Forecast In 2031
USD 3.56 Bn
Growth Rate CAGR
CAGR of 10.39 % from 2024 to 2031
Quantitative Units
Representation of revenue in US$ Million and CAGR from 2024 to 2031
Historic Year
2019 to 2023
Forecast Year
2024-2031
Report Coverage
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments Covered
By Component, Application, Deployment, And End-Use
Regional Scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Market Dynamics:
Drivers-
The growing demand for AI in the life science analytics market is fueled by the exponential growth of data in the life sciences. Conventional methods of data analysis need to be revised in the face of the enormous amounts of biological, clinical, and healthcare data produced by genomics, proteomics, and electronic health records. Artificial intelligence (AI) has arisen as a game-changing solution because of its superior processing capabilities; it can handle and derive valuable insights from these immense and complicated datasets with ease. Incredible possibilities for pattern discovery, disease outcome prediction, and optimization of healthcare and life sciences research await in the mountains of data. Utilizing AI, researchers, healthcare experts, and pharmaceutical businesses can easily integrate and analyze various forms of data, which in turn allows them to uncover useful insights.
Challenges:
The prime challenge is a lack of awareness, a shortage of competent individuals, and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of AI in the life science analytics market. The low level of implementation of AI in several healthcare settings. There is no denying AI’s revolutionary promise in healthcare, yet smaller or less tech-savvy healthcare organizations face challenges when trying to integrate these new technologies. In these contexts, adoption is more gradual because of a lack of resources, including both financial commitment and trained staff. Implementing AI systems is complex, necessitating specialized training and infrastructure changes, which adds to the already existing difficulties. In addition, the health and life science sectors were helped by the COVID-19 epidemic. There was a dramatic uptick in the use of artificial intelligence (AI) for life science analytics as a response to the epidemic, which prompted the industry to speed up innovation in the face of such a dire threat. During the pandemic, markets worldwide grew because of AI-driven discoveries, not the months-long and similarly costly traditional methods of vaccine recognition.
Regional Trends:
The North American AI in life science analytics market is anticipated to record a large market share in terms of revenue. It is projected to grow at a high CAGR in the near future due to the high need for AI solutions in almost every field of life science. Artificial intelligence (AI) solutions for biotech, precision medicine, and drug development are in high demand in this country. Besides, Asia Pacific had a remarkable share in the market due to the fact that numerous research firms have ramped up their investments in artificial intelligence software and technology in an effort to boost operational efficiency.
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Recent Developments:
In Feb 2024, Wipro and IBM extended their partnership in order to provide clients with new AI services and support. the Wipro enterprise ai-ready platform was developed by Wipro and IBM in the course of an extensive collaboration. The expanded collaboration merged the technological prowess and industry knowledge of Wipro with IBM’s pioneering hybrid cloud and AI developments. The objective was to develop collaborative solutions that facilitated the progress of integrating, enterprise-ready, dependable, and comprehensive artificial intelligence solutions.In Dec 2022, Quantori formed a partnership with Databricks to expedite data-driven advancements in the fields of life sciences and healthcare. Quantori created solutions using the Databricks Lakehouse Platform to offer immediate insights into real-world data to enhance patient outcomes for researchers and physicians.Segmentation of AI In Life Science Analytics Market-
By Component-
SoftwareHardwareServicesBy Deployment-
On-premiseCloudBy Application-
Research and DevelopmentSales and Marketing supportSupply chain analyticsOthersBy End-user-
Medical DevicesPharmaceuticalBiotechnologyBy Region-
North America-
The USCanadaMexicoEurope-
GermanyThe UKFranceItalySpainRest of EuropeAsia-Pacific-
ChinaJapanIndiaSouth KoreaSouth East AsiaRest of Asia PacificLatin America-
BrazilArgentinaRest of Latin America Middle East & Africa-
GCC CountriesSouth AfricaRest of the Middle East and AfricaFor More Customization @ https://www.insightaceanalytic.com/customisation/2456
Why should buy this report:
To receive a comprehensive analysis of the prospects for global AI In Life Science Analytics marketTo receive industry overview and future trends of global AI In Life Science Analytics marketTo analyze the AI In Life Science Analytics market drivers and challengesTo get information on the AI In Life Science Analytics market size value (US$ Mn) forecast till 2031Major Investments, Mergers & Acquisition in global AI In Life Science Analytics market industryOther Related Reports Published by InsightAce Analytic:
Life Science Tools Market
Big Data in Healthcare Market
Digital Twins in Healthcare Market
eConsent In Healthcare Market
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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Artificial Intelligence
Fiix by Rockwell Automation Announces Industry-Leading GenAI Prescriptive Work Orders
Included in Fiix Asset Risk Predictor, Fiix Prescriptive Maintenance transforms asset health predictions into actionable work orders
BRUSSELS, May 2, 2024 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, is excited to add cutting-edge, generative artificial intelligence (GenAI) prescriptive work orders to Fiix Asset Risk Predictor software, creating the first complete predictive and prescriptive maintenance solution to help manufacturers eliminate unplanned downtime.
Fiix Asset Risk Predictor’s powerful AI can be set up in as little as two weeks and starts predicting asset failures days in advance. With the addition of Fiix Prescriptive Maintenance, it now features GenAI capabilities that transform failure predictions into detailed, actionable work orders for maintenance teams.
Work orders are generated using asset data, completed work orders and trusted maintenance sources. Teams can then review and edit work orders, and instantly push them to any computerized maintenance management system (CMMS) or enterprise asset management (EAM) tool. All data is kept completely private and protected by the highest security standards.
“With Fiix Prescriptive Maintenance, you can turn asset data into the predictions and work orders you need to drastically reduce unplanned downtime, boost operational equipment effectiveness (OEE), and make better use of resources,” says Sandy D’Souza, senior director sales, Americas, Fiix by Rockwell Automation. “It also helps close the maintenance knowledge gap, ensuring everyone has access to detailed asset and work order information, whether they’ve just started their career or have decades of experience at a company.”
By bringing together AI-powered predictive maintenance and actionable GenAI work orders, Fiix Asset Risk Predictor ensures manufacturers see results in the fastest time possible.
Fiix Asset Risk Predictor, now including Fiix Prescriptive Maintenance, can be purchased and used independently from the Fiix CMMS or seamlessly integrated with it. It can also be integrated with any CMMS or EAM your company uses.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 29,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing the Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
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Artificial Intelligence
Breaking New Ground: Sentiance Introduces First Mobile Crash Detection for Motorcycles
ANTWERP, Belgium, May 2, 2024 /PRNewswire/ — Sentiance, a leader in road safety solutions, today announces a significant advancement in motorcycle safety with the expansion of its mobile Crash Detection technology. Originally developed for cars, this first-of-its-kind solution is now tailored specifically for motorcycles.
Built on state-of-the-art interpretive AI and machine learning models, Sentiance’s Crash Detection technology utilizes smartphone sensors and GPS data to analyze motion data in real-time. This enables the system to detect potential impacts with exceptional accuracy and reliability, addressing the unique dynamics of motorcycles. Unlike other systems, Sentiance’s technology operates directly on-device, ensuring a high level of privacy and data security.
“Today we see around 30% of all road crash deaths globally involving motorcycles, with countries like Thailand having an average of 5,000 motorcyclist deaths recorded annually. Ahead of the game, we’re not just enhancing safety features for those motorcycle riders, we are fundamentally transforming their safety landscape,” said Toon Vanparys, CEO of Sentiance. “This technology is not only a game-changer for individual safety but also addresses a significant need in markets where motorcycles are essential for daily transport and industries like food, grocery, and document delivery.”
This technology is especially crucial in regions like APAC, the Middle East, India, Africa, and South America, to transform road safety standards and make advanced safety tools easily accessible. Sentiance’s scalable and affordable technology ensures that even in cost-sensitive markets, safety, and privacy are not compromised.
By reducing accident response times and improving driving behaviors through data-driven insights, Sentiance’s mobile Crash Detection promises to reduce accident response times, saving lives and improving road conditions globally.
About Sentiance
Sentiance is the leader in motion insights. Our mission is to save lives every day and shape the future of road safety. Unlike telematics companies, we focus on the driver and not the vehicle because most accidents are caused by human error.
With our revolutionary on-device AI technology, companies use insights from The Edge Platform to produce scalable, cost-efficient, and privacy-centric solutions for their customers.
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