How is the Air Care Market in India growing?

Increasing urbanization, changing lifestyle patterns, better living standards, growing emphasis on having a clean environment and increasing demand from the commercial users are enhancing the demand for air care products in the Indian market. The rising investments in R&D activities to introduce natural and chemical free air fresheners are expected to catapult the market growth in the coming years.

The air care market in India mainly operates in three main segments, namely, home fresheners, car fresheners, and bathroom fresheners. The rise in car ownership and affordable unit prices have aided the car air fresheners segment’s performance, and contributed the second highest value in terms of sales. Among other air care, bathroom air freshener blocks, which act as odor neutralizers, are widely purchased across Indian households. 

Consumers are willing to experiment with different variants of air care products, mainly, spray/aerosol, to keep their households odor-free. Urban consumers are switching to modern and sophisticated offerings such as aerosols from traditional products such as incense sticks. The demand for exclusive and value added air freshener products with better fragrance are increasing rapidly among upper middle class consumers. Aromatherapy is also gaining momentum among the Indian consumers due to its versatility, which not only include air freshening but also pain relief, enhanced cognitive function and even mood enhancement.

Most of the air fresheners that are available in the Indian market contain harmful ingredients like phthalates, which can result in asthma, allergies and reproductive abnormalities. People, who are aware of these consequences prefer to stay away from air fresheners. People are also very slowly gravitating towards fragrant products such as potpourri, reed diffusers, candles etc., as they are environment friendly and thereby promotes a healthier lifestyle compared to sprays and aerosols.

Manufacturers are leaving no stone unturned in their attempts to educate the consumers about the products they offer. The urban areas of the country and the Indian metros are mainly responsible for majority of the sales in the air care market.

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Artificial Intelligence Insight Series - Neuromorphic Chipsets and what’s next

The very first gathering for AI Intel took place all the way back in 1956 in Dartmouth; experts present there all surmised that the working of the human brain could be defined, and understood using computational theory. So, all developments that could take would lead back to AGI.

Not much progress has been made on this theory since, and now people are looking for other routes to achieve this same thing. In neuro-morphic computing, there’s this theory that computer can be used to get a replica of the human brain, and in this sense can figure out how it operates. But, most of these trials have to lead to error and ultimately failure, and as a result, we’re nowhere close to the perfect AGI.

The problem is that we don’t as yet have any real basis to suggest the proper building of something equivalent to a brain, using just some neural networking component. So, Artificial Intelligence Insight Series - Neuromorphic Chipsets, NMC can’t be seen as the first step to the AGI development – we need to understand it and only then can we even begin to create the software used for operating it and then the hardware.

Today companies involved in computer accelerator work that have built similar chips that are biologically inspired. Some define it as a machine learning accelerators – but both are capable of carrying out basic linear algebra at faster speeds than your average CPU, by making use of  SIMD (single instruction, multiple data) architecture.

But at the end of the day, they are just computer accelerators – and to get an AGI, researchers still have to work out the theory and science behind it fully. And this part requires intensive research encompassing all areas connected to human intelligence and a range of other disciplines before we come up with workable theories, and then start refining them into combined ones.

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Emerging trends in the hotel industry in India

For over a decade now the hospitality industry has been going through a lot of disruptions and with the penetration of technology, the services have become more efficient and hence consumers are able to use these services for their benefit. One of the most effective services in the hospitality segment is the hotel industry services which has seen a lot of disruptions due to technology and excessive penetration of social media.

The hotel industry in India is likely to be valued at nearly INR 1210.87 Billion by 2023 expanding at a compound annual growth rate (CAGR) of nearly 13% year on year starting 2018 and ending in the year 2023. These facts are taken from the research report published on the website of market intelligence firm, Research on Global Markets. The growth is predominantly due to increase in domestic tourism as well as international travel both in the business and leisure category.

Now let us look at some of the emerging trends in the hotel industry in India that are shaping the future of this industry.

1) Social media is extremely crucial and is likely to be more so as portals like TripAdvisor are becoming a major influencer in helping travelers make decisions related to their stay. The reviews and feedback often left by guests who have use hotel services previously have the capability to make or break the reputation of a hotel. Hence, overall service quality has also improved as more and more hotels take the feedback received on these portals seriously.

2) The concept of B&B through a sharing economy business model is quickly catching up in India as well. Airbnb is big in most tourist places like Goa, Andaman Islands, Kerala etc. which are competing with mid-size hotels and offering almost similar and sometimes even better services than the regular 2-star or 3-star hotels.

3) Digitalisation of the stay experience through various applications that make the guest completely in control of their stay. From check-in to ordering to navigating through the property as well as nearby spots, hotel apps are creating a big disruption and going the extra length in order to keep guests engaged and make them return.

There are many more disruptions that are likely to change the prospects of the hotel industry in India for the better. Stay tuned to our blogs to know about them.

Geo-advertising in the Global Mobile Location-Based Services Market

Geo advertising is new, and now possible thanks to the services we use on our smartphones, and to a large extent, the Global Mobile Location-Based Services Market. The simple explanation is this – it involves the use of location-based services to apps to advertise things to you.

On the more technical side; it is the manipulation, analysis of the real-time location data supplied via the mobile service provider that’s later on used to fine-tune mobile ads, as per the user’s needs, and more importantly if they happen to be close to the locations concerned or highlighted in those ads.

Let’s take everyone’s favorite situation as an example here – the coffee shop. Suppose the targeted audience are coffee lovers and are in the location of a café being promoted, the café owners or the marketers can simply remind them that the café is around the corner and to make a quick pit stop – they’re usually enticed by ‘limited time only’ offers to attract them. 

If they happen to be on their phones and see the ads, they can go to the store and make a purchase, since they are in the vicinity.

Here, time is of the essence as it’s likely that they could exit that geographical location pretty soon.

One example of this is the office lunch hour, or rather before it starts. Food delivery apps and restaurants might push out their ads one or two hours ahead of the lunch hour, so the audience can see the ad and have enough time to reach the stated location.           

In order for such ads to take place, one has to really know what their audience likes, or where they happen to be at the moment. This prediction can prove to be useful to the brand using location-based advertising and has even resulted in variations of the LBS advertising too.

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Analysing the growth path of the non-life insurance market in India

It has been quite long since the insurance industry in India has existed, but it is only recently that it has undergone significant liberalization and deregulation. Till recently, despite the presence of over 100 insurance companies in the health, life and general sectors, the importance of non-life insurance products among citizens was minimal. Investments in auto, health & travel insurance was considered expenditure instead of mechanisms to tackle various risk scenarios.
What’s driving the growth of non-insurance products?

The non-life insurance market in India is witnessing a paradigm shift in terms of consumer preference, thanks to the increasing disposable income and improved general awareness about non-life insurance products amongst consumers. Growing prominence of the start-up ecosystem in India and technological advancements in the insurance industry are leading to increased adoption of such products. The emergence of newer players in this industry who are innovative with both products and technology is visibly reshaping the non-life insurance industry in India. These new players are providing the much-needed momentum to the insurance space with their flexible approach towards insurance services as they are more open to customizing their products according to the needs of the consumers.

Motor and health insurance leading the pack
Among the various non-life insurance products available in India, motor and health insurance are ruling the roost at this moment. Protecting vehicles against damages has become a priority for customers. Moreover, digital disruption in the claims process has further paved the way for higher adoption of motor vehicle insurance. Moreover, IRDA has mandated multi-year policy to further increase two-wheeler insurance penetration. Auto sales in India has witnessed a healthy 10% growth, which makes motor insurance a growing sector in India.

Awareness regarding health insurance has also grown manifold in recent years. Corporates, as well as the Government, are slowly getting enrolled in health schemes, thus making the concept even more popular. With the ever-increasing healthcare costs, insurance comes across as a saviour from paying the entire expenses out-of-pocket.

Scope of the Bio-Pharmaceuticals Industry In India

Biopharmaceuticals are what are manufactured at the end of a very long, arduous processes are biotechnology firms. These are solutions, or compositions of protein, including antibodies and nucleic acids like antisense oligonucleotides, RNA and DNA, and are acquired by a non-engineered, native or biological source or via direct extraction.   

They are required for therapeutic and diagnostic purposes. Usually, the preferred means for making these biopharmaceutical products are the actual life forms. And that the products made using small molecules are considered to be biopharmaceuticals. 

Many Indian pharmaceuticals have been trying to innovate, and at the same time, is becoming the main destination for offshore R&D functions, and many of the big names in pharmaceuticals are doing just that so that they reduce drug development costs and that includes biopharmaceuticals. So, most of the success of the Bio-Pharmaceuticals Industry In India has come from this.

It addresses the needs of or is used in the treatment of conditions like cancers, arthritis, dissolving cholesterols and increasing the blood count or purifying it.

In terms of volume produced, India addresses over 50% of the requirement for pharmaceutical products globally, many of which are required in biotechnological applications. So far, this has built up this market to reach a value of INR 2,891.70 Bn in FY 2023. Bio-pharmaceuticals also exhibited a CAGR of ~31.7%, out of all biotechnology segments.       

What gave that much-needed boost were the 46 new mergers and acquisitions that took place throughout 2017, most of this was done by players in the Indian biopharmaceutical market and was valued at over INR 94.77 Bn. Adding to that is the Indian government initiative for managing online pharmacies by implementing an electronic platform for the same, and along with that there is also the Pharma Vision 2020 program too – all of which is set to help India emerge as a biopharmaceuticals big-wig.

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Latin America Connected Retail Solutions Market Trends 2019

Walmart, the biggest retail chain which boasts of a huge brick and mortar set-up across major countries in the world, announced fives years ago that it’s biggest competition in the coming years will not be from another brick and mortar giant but from the world wide web and the rising e-commerce wave. Around the world, this is a buzzing argument that with e-commerce growing and reaching even the deepest and darkest corners of the society, will brick and mortar retail showrooms face a tough competition so much so that their survival will be questioned? Those who have limited understanding of the digital world may believe yes, the e-commerce will threaten and eventually wipe off brick and mortar, however those who understand that technology is independent of the medium it is applied on, will say no. E-commerce will only create more opportunities for shopping rather than threated the existence of brick and mortar set-ups. Proved by the fact that retail outlet chains like the Walmart, Ikea, etc. are only expanding further with the help of technology.

Particularly in the Latin America Connected Retail Solutions Market, with the penetration of technology, both at frontend and backend of the supply chain, the industry is thriving. Not only has technology changed the way a product is being sold but technology has also influenced the way customer retention is carried out. Here’s a look at some of the upcoming trends.

1) Being one the fastest growing smartphone markets, Latin American retail is greatly influenced by experiential shopping. Consumers are well informed about the price, the benefits, and the competition around a product. Hence, retail outlets are diving deeper into creating an environment where the experiential shopping preference of the consumer can be taken care of.

2) The rise of Latin America Connected Retail Solutions Market indicates that retailers are willing to go the extra mile to provide a holistic experience to the consumer. From creating awareness about the superiority of their product to providing various kinds of payment solutions, to door-step delivery of the product, retailers are not leaving any stone unturned to make the shopping experience from a brick and mortar set-up an equally satisfying one. 

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Latest Technology Trends In Surgical Robotic Products

Doctors everywhere are turning to medical robotic systems to assist them with the more complicated part of their work. Such Technology Trends In Surgical Robotic Products is helping the world of medicine do so much more for patients. But the pace at which this adoption is taking place can be attributed to many things.

One is the blend of technological improvements being made such as the power back-up, better motors, materials that are light and compact, sophisticated and more advanced controls, lots of mechanisms that make most of the solutions we have today more economic and feasible to use. 

More importantly, they can be used for delivering those types of surgeries referred to as minimally invasive, that are faster, require less work and fall cheaper.

Surgical robotic products or systems can be used in all fields, making them very versatile, practical and are critical components in helping hospitals customize their services to meet the needs of busy patients. Those services include open surgery, flexible endoscopic tests, laparoscopic procedures, and gynecology and childbirth and even in the field of cosmetology.             

There was one very pressing issue when these ‘robots’ first came about and this still affects some practitioners even today – and that’s whether they can really do the job a surgeon, even if it is just assisting him, in carrying out life-saving surgeries with precision?

These robots are in actuality, really big computer-operated machines capable of carrying certain techniques, or imitate the movements of the doctor's hands when manipulating intricate tissues, veins, nerves, and organs.

In this way, it can reduce complications, risk of infection, is much less painful, requires less invasion and you have faster recovery time because of it.

From the business point of view, practitioners can work on more patients without the risk of fatigue, care patients – and free up hospitals beds – faster as well for the next lot of patients. Tools like this can streamline service delivery processes, help doctors and hospital administrator keep a track of things and give patients the services that they came for.

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