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COVID-19 Impact on Global Smart Manufacturing Market in ICT Industry | Data Bridge Market Research

COVID-19 Impact on Global Smart Manufacturing Market in ICT Industry ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET The pandemic originated from China, marking its beginning in 2019 and has been continuously spreading by then to all over the world, so far 218 countries and territories, and 2 international conveyances have been affected with COVID-19, U.S. being on the top with cases reaching to about 15 million, followed by India, Brazil and then by many European countries such as Russia, France, Italy and others. The COVID-19 cases are reaching to the big named countries with strong dominance in the global market which has adversely affected the economy globally. The spread of Corona virus (COVID-19) has led to the global recession, many companies are being bound to take stringent actions of laying of their employees, small business are being shut, manufacturing facilities are being put on hold. There has been a disruption in supply chain of many industries due to restriction in logistics and closing of manufacturing facilities. In addition, the slowdown in economy has lowered the spending capability of individuals and people are saving money for emergencies. The World Bank stated that the global economy is expected to reduce by 5.2% in 2020. Emerging market and developing economies (EMDEs) are expected to decrease by 2.5% and the economic activity in advanced economies may get reduced by 7% in 2020. The U.S. witnessed a decline of 4.8% on an annualized basis in the first quarter Q1-2020. In addition, the slowdown in economy has also lowered the spending capability of individuals and people are saving money for emergencies. The Latin America region is affected by COVID-19 in both human and economic terms. The IMF World Economic Outlook stated a decrease of 8.1% in Gross domestic product (GDP) of Latin America in 2020.

Significant COVID-19 Impact on 3D Machine Vision | Semiconductors and Electronics Industry | Data Bridge Market Research

COVID-19 Impact on 3D Machine Vision in Semiconductors and Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET Coronavirus or more popularly known as COVID-19 which originated from Wuhan province in China has wreaked havoc and destruction and brought the world to a standstill. Major companies around the world have been forced to close down their offices to cut their expenses and smaller businesses have filed for bankruptcy. People have also been fired or are working with reduced salary. Central banks of various economies are introducing drastic measures to keep the country afloat however it is putting a massive strain on them. The major pharmaceuticals companies are on a race to develop the vaccine and are conducting rapid trails to get fastrack approvals for commercial usage. Among all this, many manufacturing facilities remained closed as a necessary step to prevent the spread of virus. However, manufacturing facilities of essential goods such as pharmaceutical, food & beverages, power generation and petrochemicals remained opened during the pandemic to supply essential goods to meet the demand of the market. 3D machine vision is used in various industries to perform specific task faster, smarter and more accurate. 3D machine vision systems typically comprised of multiple cameras for inspecting or detecting objects and specific distance from that object. The 3D machine vision tools are used in bin-picking, manufacturing, inspection and logistics industries. During the initial pandemic period, most of the above mentioned industries were halted abruptly which has impacted the sales of 3D vision machine. The demand for 3D machine vision has initially declined due to lockdown across countries. The companies were facing severe decline in cash flows and were deferring new planned projects related to the implementation and installation of 3D machine vision at their manufacturing facilities. However, when the lockdown and restrictions were uplifted after few months, the companies are now adopting on automation systems such as 3D machine vision for reducing their production costs. Overall, 3D machine vision market has witnessed negative impact during pandemic situation and after removal of lockdown restrictions, the business will see normal growth in coming years. AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET COVID-19 overall has negatively impacted the 3D machine vision market. During the pandemic, many manufacturing industry players are focusing on automating their facilities to reduce the overall production costs. The 3D machine vision sensors were also used in hospitals for various applications such as fall detection and patient monitoring to alert doctors or hospital staffs when a patient requires assistance. More and more industries are using automation technologies to fight the battle against COVID-19. The companies are leveraging robotics and 3D machine vision technology as a significant solution for safeguarding people and control & prevent the spread of the virus and to fight the novel coronavirus pandemic. These cutting-edge technologies are helping pharmaceutical and medical device industry and many other industries in their manufacturing processes, inspecting, identifying and providing assistance in treating COVID-19 patients.
industry
Business
+ 4 interests

Significant COVID-19 Impact on Automotive Cyber Security Market in Semiconductors and Electronics Industry | Data Bridge Market Research

COVID-19 Impact on Automotive Cyber Security Market in Semiconductors and Electronics Industry Introduction The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world; so far, 216 countries and territories have been affected with COVID-19, the U.S. being on the top with cases reaching about 13 million, followed by India, Brazil and then by many European countries such as Russia, Spain, Italy, and others. The COVID-19 cases are reaching the big named countries with a strong dominance in the global market, which has adversely affected the economy globally. The spread of the Coronavirus has led to the worldwide recession, many companies are being bound to take stringent actions of laying of their employees, small businesses are being shut, manufacturing facilities are being put on hold. There has been a disruption in many industries' supply chain due to restrictions in logistics and the closing of manufacturing facilities. Besides, the slowdown in the economy has lowered the spending capability of individuals, and people are saving money for emergencies. The U.S. has witnessed a decline of 4.8% on an annualized basis in the first quarter Q1-2020. In addition, the slowdown in economy has also lowered the spending capability of individuals and people are saving money for emergencies. The Latin America region is affected by COVID-19 in both human and economic terms. The IMF World Economic Outlook stated a decrease of 8.1% in GDP of Latin America in 2020. Automobiles are now connected devices with Wi-Fi for remote start, built-in cellular communication and Bluetooth, and many other apps. The vehicles are now highly automated and connected through the use of advanced technologies such as IoT. Vehicles and the internet are now being integrated, and the increasing connectivity provides a solution to road safety, increasing traffic flow, and climate pollution. The use of these technologies will lead to a high generation of data required to be protected. The increasing cyber thefts and cyber-attacks have been shown to protect the data associated with automobiles too. The expanding growth in connected vehicles has increased the need for cybersecurity for these vehicles over the years.
cybersecurity
Cars
+ 7 interests

COVID-19 Impact on Asphalt in Chemical and Materials Industry | Data Bridge Market Research

COVID-19 Impact on Asphalt in Chemical and Materials Industry INTRODUCTION The black cementing agent known as asphalt has been used for road construction for centuries in all overall the world. Asphalt is black or brown petroleum-like material that has a consistency varying from viscous liquid to glassy solid. Although, asphalt is present in two types which are used in the natural deposits of asphalt and rock asphalt. Asphalt is obtained either as a residue from the distillation of petroleum or natural deposits. Natural asphalt which is also called Brea, and formed during an early stage in the breakdown of organic marine deposits into petroleum. Asphalt is produced from the constituent of most petroleum products which are isolated through the refining process of distillation. While production of the asphalt consists of compounds of hydrogen and carbon with minor proportions of sulfur, nitrogen, and oxygen. Since asphalt includes bitumen, which is a hydrocarbon substance soluble in carbon disulfate, asphalt is sometimes called a bituminous material. For the harmful distillation of acquired soft coal tar containing bitumen as well. Bituminous materials are known as both petroleum asphalt and coal tar. Petroleum asphalt consists entirely of bitumen, and the bitumen content in coal tar is relatively poor. Asphalt has various properties that increase asphalt application in the construction industry. On the heading of the asphalt become elastic under a various heating temperature. Asphalt is more used as the binder or adhesive in construction activities. The principal application of asphalt is in road surfacing in which asphalt is used in a variety of ways. Asphalt is mixed with a variety of solid and liquid substances which help to build the hard surface. Small structure granular is added to an asphalt coat, and other materials for the road surface are mixed with the asphalt. The asphalt helps to bind the different materials which have a different chemical composition and increase the strength of the surface to hold more pressure. Other important applications include linings of canals and reservoirs, dam faces, and other harbor and sea works; asphalt may be a sprayed membrane, thin, covered with soil for weathering and mechanical damage protection, or thicker surfaces, often containing riprap (crushed rock). Asphalt is also used for floor tiling, soundproofing, roofing, waterproofing coating, and other components of building construction.

COVID-19 Impact on Connected Oil and Gas in ICT Industry | Data Bridge Market Research

COVID-19 Impact on Connected Oil and Gas in ICT Industry COVID-19 which originated from China has threatened the survival of modern human beings by creating an unprecedented pandemic situation. The nano-sized virus has increased its footprint globally affecting more than 175 countries. Entire nations have gone into full lockdown as the total cases globally have crossed 50 million. Companies have been advised to shut down their offices and small businesses are facing bankruptcy. Major pharmaceutical companies are developing vaccines at a rapid pace in assistance with the government but it is still a year away from being commercially available. The oil & gas industry was already facing a crisis before the pandemic and the advent of this pandemic has seemed to worsen its condition further. Due to these lockdowns, travel restrictions have also been put in place for which there has been a heavy reduction in fuel consumption across the entire transportation sector. Barring LPG and domestic natural gas, the demand for all the other fossil fuels is in free fall. The oil price crash which started before this pandemic has gone into overdrive mode due to this pandemic. Brent crude oil process has touched 17-year lows erasing billions of wealth from this sector. The energy demand from economies globally has also muted. However, as the economies unlock and travel bans are lifted in a phased manner, companies are introducing technologies such as machine learning, AI and digital twins among others and have also introduced connected solutions to digitalize their offerings which are pushing them towards industry 4.0. For instance, Schlumberger has introduced its digital connected service that optimizes the operations of the website while ensuring their safety and increasing their efficiency. This service leverage cloud-based applications for building a robust data network. AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET COVID-19 overall has further strained the operations of this sector which were already reeling from a crisis of its own. The prices have crashed from their all-time highs. This pandemic has also made the consumers switch to electric vehicles which are further choking the future prospects of this sector. However, as the nation’s rely on this industry for meeting their energy demands, various measures are being implemented to provide relief from the impact of this pandemic. Governments are investing significantly to increase their production and to meet the energy requirements. Implementing technology has become very essential as the integration of IoT has eased the operations. Apart from that, domestic companies are acquiring major stakes in oil plants.
industry
Business
+ 3 interests

Significant COVID-19 Impact on Cardiology Disease | Healthcare Industryy | Data Bridge Market Research

COVID-19 Impact on Cardiology Disease in Healthcare Industry OVERVIEW A recently recognized coronavirus SARS-CoV-2 has caused an overall pandemic of respiratory ailment called COVID-19. The virus first appeared in Wuhan, a city of China in December 2019. The patients suffering from COVID-19 are treated very carefully with all the precautions because this disease spreads fast through physical contact. For COVID-19, no vaccine has been discovered yet; precautions include regular hand-wash and maintaining social distance. There are theoretical risks that a viral infection can cause the rupture of atherosclerotic plaques (fatty deposits) in the coronary arteries leading to acute coronary syndrome based on the inflammatory effects of the virus (heart attack). It is possible for someone to catch the infection. People with underlying heart problems, however, may be more likely than others to display signs of the infection or to have a more serious infection. IMPACT ON PRICE Due to COVID-19, the market is disturbed to a very big level. But as the patients who are already suffering from heart diseases and lung diseases are more prone to COVID-19, so overcoming these situations, the older patients are treated very seriously. So the demand is increasing day-by-day for different cardiac drugs that is increasing the competition in the manufacturers to produce more and good quality of cardiac drugs so that they can meet the expectation of doctors and patients. The latest data have shown that the price has decreased related to the data available before COVID-19 due to a rise in demand for cardiology devices and cardiology drugs. Significant quantities of drugs and devices are produced by large manufacturing firms but with a top notch consistency. Therefore, the growing demand and sale of the drugs and devices, the competition between the manufacturers of ventilators is increasing which results in decreasing the overall cost of cardiology drugs and devices.
Health
healthcare
+ 5 interests