Neuroeducation is a three-in-one study of neuroscience, psychology, and education. How well do you know the human brain? What are the deciding factors of intellect? Neuroeducation has answered these questions and more. The Psychophysiology and Education Special Interest Group spearheaded neuroeducation in 1988.

This area of neuroscience is relatively new, and there’s so much to explore. It entails the search for practical answers about how the mind works and how the brain coordinates the human intellect and the learning process. While it remains a relatively new branch of learning, neuroeducation statistics will reveal some interesting things to help us truly appreciate how amazing it is. Let’s start.

Key Neuroeducation Statistics

1. The branch of neuroscience tagged Neuroeducation was birthed in 1988.
2. Neuroeducation was the answer to the need to find how to apply scientific discoveries to learning.
3. Scientists in this field are tasked with studying the neural act of reading, arithmetic accuracy, and attentiveness.
4. This new science has proven that a left and right brain is a myth.
5. Neuroeducation has proven that there is no such thing as having a male or female brain.
6. The brain is said to have similar characteristics to plastic as it changes with time and learning.
7. Mirror neurons are stirred up whenever others around you express their emotions.
8. A person’s nature and manner of upbringing affect the workings of the learning brain.
9. The brain shows signs that a person with Dyscalculia or dyslexia will likely develop dyslexia.
10. The hippocampus shuts down when faced with too much stress or adrenaline rush.
11. Learning and memorizing are not in any way similar to the brain.

General Neuroeducation Statistics

1. The Idea of a New Chapter in the Sciences Called Neuroeducation Was Birthed in 1988.

This new science connects neuroscience, psychology, cognitive science, and education to create a new era of learning that will likely change the education system in practice. A group of special interest education and psychophysiology experts birthed this idea in 1988.

2. Neuroeducation Was the Answer to the Need to Find How to Apply Scientific Discoveries to Learning.

Neuroeducation was a wake-up call to seek practical ways to improve learning and retention. Many methods are being used to improve students’ intellect. These methods cover both those who have and do not have disorders. These areas caused hiccups in the learning process, bringing the need for Neuroeducation.

3. Scientists in This Field Study the Neural Act of Reading, Arithmetic Accuracy, and Attentiveness.

Neuroeducation scientists probe a whole lot about people’s reading and learning habits. They try to seek answers to issues bothering dyslexia, ADHD, and Dyscalculia as they relate to education.

4. This New Science shows that The “Left and Right Brain” Theory is a Myth.

The idea that there’s a Right and Left brain has been around for a while, but neuroeducation studies have proven it’s just a myth. The theory probably came from the scientific literature about split-brain people. Many people believe it and have created products to cater to the left and right parts of the brain. However, research suggests no proof that these products only target one side of the brain.

The human brain has billions of neurons, shared between the two hemispheres, that don’t share the same roles. So, people need to drop the notion that one part of the brain can work independently without the other. This is so far from the truth; this brings us to the question: Are there right or left thinkers? The idea seems attractive, but there is no evidence to prove that a person can use one part of the brain to reason better.

5. Neuroeducation has Proven That There is No Such Thing as Having a Male or Female Brain.

Many have grown up with the notion that there is a difference between the brains of the male and female genders. The only difference that can be said to exist between the genders is that of the size. Besides that, every other aspect of the brain structure functions similarly in both genders. The male brain is 11% larger than the male brain, which is more like the difference in body size.

This yet does not explain the behavioral differences that exist between the sexes. Being emotional beings is often tagged to the female gender, while men are said to be aggressive. This notion, which seems like a fine explanation for their brain size, is false.

6. The Brain is Considered Plastic as it Changes With Time and Learning.

According to neuroeducation researchers, the brain is plastic when a person is younger, meaning it changes over time as we learn new things. We cannot do many things as humans if the brain does not adjust its connections. Some of these activities are learning, keeping memories, and developing. This act of learning keeps the brain in its full working gear such that it does not wear down to dementia. It simply means that the safe way to avoid dementia in old age is to keep learning.

7. Mirror Neurons are Stirred Up Whenever Others Around You Express Their Emotions.

The sadness and joy you observe in others spark up your mirror neurons. We are wired to feel some connection to the feelings of others and so share in their emotions. Mirror neurons are in charge of piloting various human behaviors and thought patterns.

8. A Person’s Nature and Manner of Upbringing Affect the Brain’s Learning Ability.

Your genetic code forms new neurons, connections, and neural pathways. Your upbringing also influences your development process.

9. The Brain Does Show Signs When a Person Will Develop Dyscalculia or Dyslexia in the Future.

Children with possible dyslexia find it hard to say rhymes well like other children. A simple way to know kids with Dyscalculia is that they find it hard to make decisions with numbers. Children with Dyscalculia, in most cases, have very poor calculating memory. They also find it hard to retain important information and identify mistakes.

10. Our Hippocampus Shuts Down When Faced With Too Much Stress or Adrenaline Rush.

The hippocampus completely closes down when our brains experience too much stress and adrenaline, like sudden flight.

11. Learning and Memorizing are Not Similar Tasks for the Brain.

Committing something into memory and learning are like two sides of a coin. Learning has to do with being able to apply information to a life situation. This is the reason why it is rooted within the brain. On the other hand, memorizing involves a short-span recall of information.

Effect of Neuroeducation

12. The Brain’s Ability to Self-regulate Helps Us Have Willpower.

The human brain is created in such a way that it can regulate itself. This discovery goes a long way in helping teachers to have self-control within and outside the classroom.

13. Education Remains the Most Active Means of Mental Enhancement.

Nothing can downplay the effect of education in building and maintaining sound intellect. It is way more effective than using drugs or some forms of technology.

14. It Helps to Provide Us With New Systems of Learning Technologies.

Neuroeducation searches out new ways to make learning and education exciting. An example of this is the AI technology system in use.

15. It Boosts the Memory and Attentiveness of Both Healthy and Disabled Students.

Applying neuroeducation findings will help a teacher better understand how to increase the learners’ ability.

16. Introducing Neuroeducation in Schools Will Steer Teachers to be More Creative.

Understanding how the brain works can help teachers be more creative in providing effective teaching methods appropriate for every child.

17. Neuroeducation Provides Solutions to Improve a Child’s Speech Pattern and Pictorial Memory.

Teachers can better understand how to improve their students’ visuals and speech. This knowledge helps them to know the best methods to teach students with learning disabilities.

18. We are Better Informed on the Signs of Dyscalculia and Dyslexia and How to Deal With These Issues.

Neuroeducation gives you all the knowledge needed to identify a child with Dyscalculia and dyslexia. This early discovery will help teachers know the best way to correct it.

19. Neuroeducation Seeks to Employ the Best Ways to Understand the Social and Vigorous Intellect.

One important role of this area of science is to understand a child’s social and vigorous intellect. This knowledge helps to improve the dynamic intelligence of the next generation.

20. Understanding How the Brain of Students Works Concerning Attention.

It tries to determine how the brain works regarding paying attention to a lesson. Understanding the brain’s attention is key to passing education to the next generation.

21. Neuroeducation has Shown That Good Sleep is Important for Memory Retention.

Being able to recall information has a lot to do with having good quality sleep. This discovery by Neuroeducation will help students and the public.

22. One Important Aspect of Learning is Feeding the Brain With New Knowledge.

Our brain yearns for variety to function better than it does. Teachers across the world now apply this new knowledge of Neuroeducation. Students learn methods to solve problems using multiple methods, all in a bid to speed up brain function.

23. Proper Sleep, Eating the Right Food, and Exercising Do Our Intellect a Lot of Good.

Do you know that your state of health has much to do with your level of intelligence? Neuroeducation found that sleeping, eating the right foods, and exercising improve brain activity. A person’s state of health enhances their level of intelligence.

Conclusion 

Although Neuroeducation has been around for a while, much ground remains uncovered. But it sure has helped a lot in solving the puzzle of how to deal with issues such as Dyscalculia, dementia, dyslexia, and other brain-related problems. As the human body’s powerhouse, the brain remains a remarkable, complex organ to understand. Exploring these statistics may help you understand why we must pay more attention to Neuroeducation.

FAQs

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The light therapy market statistics are, first and foremost, a reflection of society’s increased emphasis on healing, care, and innovation. Secondly, they’re part of a large healthcare and health-tech market which has wide-ranging medical and commercial implications.

But what is light therapy?

Light therapy, also known as phototherapy or red light therapy, is exposure to natural or artificial light executed for medical purposes. Its use can be dated back to ancient civilizations that venerated the sun, but it first saw widespread use in the 20th century. Today, light therapy is widely used to treat many physical and mental conditions.

This significance of the light therapy market is a big reason why we put this guide together. In this guide, we’ll share with you the size of the light therapy market, its popularity across the world, and the most common types and applications. We’ll also introduce you to the key market players. Let’s dive in.

Key Light Therapy Market Statistics

Light Therapy Market Size & Revenue

Reports by Grand View Research and Global Market Insights stipulate that the value of the light therapy market was $1 billion in 2022. It’s forecast that by 2032, the market will grow to exceed $1.5 billion at a CAGR of 6.3%.

Some of the big reasons for such accelerated growth are:

Light Therapy Market Statistics by Region

Light therapy is popular all around the world, but some markets are bigger than others. In this section, we’ll take a look at the different regions’ light therapy market statistics.

North America

In 2022, the North American region accounted for over a third of the overall light therapy market, or $346 million, making it the largest market overall. As you’ll see later in this guide, many key players in the market are based in the US, so the large slice is no surprise.

Europe

In terms of growth of the European light therapy market, the forecast CAGR is 4.6% – lower than the global average. As you can see from the infographic above, in 2020, Germany was the leader in the European region in terms of the light therapy market value, which was $55.8 million. The country is also forecast to be the frontrunner in 2027 when the value of its light therapy market is expected to reach $80.7 million.

The Eastern European region is estimated to be a close second to Germany in 2027, with a $56.3 million market by 2027. The smallest market is Spain – in 2020, the market was less than $17 million, and is forecast to reach $24 million by 2027.

APAC

North America might be the largest light therapy market in the world, but the Asia-Pacific market is the fastest-growing one. Its projected CAGR for 2023-2030 is 5.6%. The main reasons for this accelerated growth are the increased investment in telemedicine and higher awareness of light therapy, as well as increased sleep disorders.

Light Therapy Statistics by Type

When it comes to light therapy, there are multiple different types of equipment on offer, all of which are meant for different use cases. Some of these types include LED light therapy equipment, fiber optic equipment, and conventional light therapy equipment (or compact fluorescent equipment). We’ll go over each of them in this section.

Conventional Phototherapy

By 2027, the global market value of conventional phototherapy devices is expected to surpass $250 million. Conventional phototherapy uses halogen or compact fluorescent lamps. It’s commonly used for treating conditions like hyperbilirubinemia and jaundice in newborns (more on that later), as well as for several other medical cases.

A 2011 study from India surmised that conventional halogen phototherapy used to treat hyperbilirubinemia in infants was just as effective as LED phototherapy. However, another Indian study published eight years later questions this.

According to its findings, the conventional phototherapy treatment led to a smaller decrease in serum bilirubin than the LED treatment. Those findings imply that LED therapy treatments could be more effective than conventional phototherapy. Let’s look at them in more detail.

LED Phototherapy

The predicted 2027 value of the LED phototherapy devices market isn’t too far behind conventional phototherapy – $209.4 million, to be precise. Originally intended for growing plants in space, today, LED is a popular treatment for skin conditions and wound healing. It’s also known as “red therapy.”

A study published back in 2001 stipulates that LED can shrink a wound by up to 36%. Moreover, it even improved musculoskeletal training injuries of Navy SEALs by over 40%.

Modern studies seem to support this. However, researchers also stipulate that while LED therapy can be effective for the conditions described above, further evidence is needed to confirm its effectiveness for cancer and weight loss treatments.

Fiberoptic Phototherapy

While not as well-known as its above light therapy counterparts, fiberoptic phototherapy is nonetheless a popular form of treatment. Like conventional phototherapy, it’s also commonly used to treat neonatal jaundice and hyperbilirubinemia. In fact, its market value is predicted to surpass LED phototherapy in 2027 and reach $222.1 million.

A 2021 African study examined the effectiveness of fiberoptic phototherapy vs. conventional therapy in treating hyperbilirubinemia. The conclusion was that fiberoptic phototherapy was equally effective as blue light conventional phototherapy but considerably more effective than white light phototherapy. Moreover, the study proposed the possibility of using fiber optic equipment to treat any conventional therapy side effects.

Light Therapy Statistics by Application

Now that you’ve grasped the size of the light therapy market, we’d like to take you through its key applications. This section will feature the main use cases of light therapy, and we’ll explore how effective it’s been in treating them.

Skin Conditions & Melanoma

One of the biggest clinical applications of light therapy is skin condition treatment. That market is expected to grow to $495.1 million by 2027 (up from $367.1 million in 2020).

A big reason for such growth is the effectiveness of light therapy against skin diseases and abnormalities. According to a 2018 report by the Ablon Skin Institute and Research Center, LED light therapy can heal post-surgery wounds and treat acne, psoriasis, and even certain carcinomas. The study examined a specific device, and here are its key findings:

Therefore, as you can see, light therapy has a lot of merit when it comes to skin conditions. There’s also evidence that light therapy, or photodynamic therapy, is effective against melanoma. With almost 100,000 new melanoma cases emerging in 2023 in the US alone, it’s vital to pay attention to the effectiveness of the non-invasive treatment.

Light Therapy and Cancer

A 2022 American-German study suggests that red light (RL) phototherapy can decrease the growth of cancer cells and tumors. A Japanese study from the same year proposes the usage of light therapy delivered via microneedles and shows that there’s potential for it to work with blue light.

However, both studies agree that there’s still a lot of work to be done in relation to phototherapy cancer treatments, as it’s not a perfect method and hasn’t been researched enough.

Sleep & Mental Health Disorders

Light therapy has long been used to treat sleep disorders and mental health disorders, such as depression, anxiety, SAD, and PTSD. For example, a 2005 study shared in the American Journal of Psychiatry confirms that bright light therapy treatment’s impact on depressed people was comparable to that of SSRI drugs.

According to the study referenced above, treating a depressed patient with a 10,000 lux device for 3 hours per day yields the desired results – a significant reduction in symptoms of nonseasonal depression.

Other studies also stipulate that light therapy has a positive impact on post-traumatic stress disorder victims. For instance, a 2022 study published in the Military Medicine Journal suggests that bright light therapy can reduce PTSD scores in veterans by about 33%. However, it doesn’t bring about PTSD remission by itself.

That’s not to say, though, that light therapy should be the end-all-be-all solution for mental health issues. For example, its impact on schizophrenia is still questioned by psychiatrists, although there have been some studies by Science Direct suggesting its somewhat positive impacts.

In terms of sleep disorder treatment, light therapy treatments also offer some benefits. A study by UNC-Chapel Hill researchers confirms the positive effect of light therapy on sleep disorders in older persons. However, the same study, as well as others, admit that the research is inconclusive and the impacts of light therapy are small to medium.

SAD

SAD, or seasonal affective disorder, affects a huge number of people, especially those living in the Northern regions of the planet. It manifests in low moods, concentration issues, and other symptoms of depression, particularly during the winter months when days are shorter.

It’s very common to treat SAD with a form of light therapy by exposing patients to bright lights. This is usually done through special bright lamps with more than 10,000 lux. The light therapy treatment has proven effective over the years. For instance, one study stipulates that 61% of SAD patients had their symptoms disappear within 4 weeks of treatment.

Another study shared in the American Journal of Psychiatry, published in 2005, confirms the light therapy’s effect on SAD. It further stipulates that an adequate dose of light therapy for SAD is a minimum of 4 days of at least 3,000 lux-hours.

“A significant reduction in depression symptom severity was associated with bright light treatment.”

American Journal of Psychiatry, Volume 162, Issue 4.

Jaundice

Neonatal jaundice has long been treated with phototherapy. This market is forecast to reach $201.8 million by 2027. That’s not surprising, considering that about 50% of full-term babies and 80% of premature newborns can develop jaundice. Furthermore, the global infant phototherapy market size (including jaundice) is projected to reach $140 million by 2030.

The light therapy method for treating jaundice is used in most countries, with the most common methods being blue light and blue-green light. UV therapy is rarely used on newborns due to the risk of gene mutation.

Key Players of Light Therapy Market

Now that you know about the market size of light therapy and its most important use cases, it’s time to consider who’s making it all possible. In this section, we’ll go over the key players in the light therapy industry.

Verilux Inc.

Vermont-based Verilux Inc. is one of the oldest active light therapy equipment providers. Founded in 1956 and acquired by Bear Down Brands in 2020, the company offers therapy lamps known as HappyLight and SmartLight.

The privately held company doesn’t disclose its financial information. Many of its products are below $100, making them an accessible choice for light therapy. The New York Times and CNN both recommend Verilux HappyLight lamps for light therapy in 2024.

Philips

The Dutch giant Koninklijke Philips N.V. is a well-known manufacturer of domestic appliances, including light therapy. First created in 1891, the company can trace its roots in the light industry to that very year when it was a lightbulb seller.

Today, Philips’ primary focus is healthtech, such as light therapy. The latter products are primary for consumers, and their price point is much higher than Verilux’s. Although Philips shares their revenue information, it doesn’t disclose which portion of it is attributed to light therapy solutions.

Northern Light Technologies

This manufacturer of light therapy products is younger than the industry veterans listed above. Founded in 1989, NY-based Northern Light Technologies, or NLT, offers US-manufactured light therapy lamps known as BOXelite, LUXOR, and a handful of others.

The company is a founding member of the Circadian Lighting Association trade association – an industry body for SAD light therapy products. It’s been recommended by the American Psychiatric Association.

Like most other private companies, NLT doesn’t disclose its finances. However, the cost of its products is somewhat higher than Philips.

Upcoming Key Trends in Light Therapy

Unfortunately, we don’t have an LED-powered crystal ball. But what we do have is this guide, where we delved into various scientific reports, studies, and statistics on light therapy.

Based on what we learned, we believe that we can make educated guesses as to the future trends impacting the light therapy market.

We’re going to do just that in the final section of this guide. Let’s dive in.

Scientific & Technological Advancements

It goes without saying that light therapy is a scientific and technological innovation. In this guide, we went over several studies of light therapy, many of which admit there’s still a lot of work to do to fully unravel its potential.

When it comes to science, the only way is forward, so it’s very likely that in the next few years, we’ll see more scientific breakthroughs in light therapy. And given the large-scale investments of many governments into health-tech and med-tech, chances are that we’ll be seeing many amazing light therapy gadgets, too.

Wearables Integration

The wearable technologies market is growing at an exponential rate, thanks to Apple Watch and similar gadgets. We’re convinced that the portability and accessibility of wearables can take light therapy to new heights.

For instance, LED-equipped wearables, such as glasses and biosensors, can deliver targeted therapy directly to the skin or even through the eyes. Such integrations with wearables would not only be convenient and more efficient, but can also facilitate real-time monitoring and adjustment of light exposure, thus potentially aiding in medical research.

Increased Accessibility

At the moment, many companies are offering home light therapy devices. The increasing prevalence of such devices can make light therapy more accessible and affordable, saving people from having to go to a medical facility.

Since most insurance packages don’t cover light therapy, making more home devices can reduce costs for a lot of people and equip medical researchers with more data than ever.

Is Light Therapy Here to Stay?

The short answer – yes. The long answer – also yes, but it’ll encompass even more medical use cases than it does today.

Light therapy might have originally been created by NASA to grow plants in space, but it has since evolved into a million-dollar industry, making a difference in people’s lives every day. From acne and eczema treatments to psoriasis, wound healing, and even melanomas, phototherapy works as a non-invasive treatment option with few side effects when done right.

We at TechReport are always keen to find out more about innovations for the good of society. For that reason, we’re really excited about seeing more scientific breakthroughs in the field of light therapy and geeking out about the technology making the most of them.

Sources

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If you’ve ever shopped during Cyber Week, you’re likely familiar with the psychological impact of Black Friday and Cyber Monday discounts. The biggest shopping days of the year lead to a global commerce frenzy – both online and offline – and many times, customers do end up with things they don’t really need.

But what drives our behavior during BFCM? Why do we go crazy for the Cyber Week bargains and often fall into the trap of overspending? 

In fact, there are several psychological reasons for that. In this guide, we’ll dive into the psychological impact of Black Friday and Cyber Monday deals and explore the possible ways people can manage them better.

Key Statistics of the Psychological Impact of Black Friday and Cyber Monday Discounts

Why We Go Crazy for Black Friday and Cyber Monday Discounts

In the US, consumers spent a record of $9.8 billion on this year’s Black Friday, according to Adobe Analytics, and Cyber Monday’s spending last year was $11.3 billion. We’ll now take a look at the key psychological aspects and trends of BFCM shopping and why they make us go crazy for deals.

In the case of Cyber Week discounts, many of which are set for a limited time, consumers often fall prey to the FOMO tactics used by various retailers as they’re scared they’ll miss out on cheaper prices until next Black Friday, if not forever.

Indeed, a study by C. Hodkinson on FOMO Marketing appeals suggests that most people have received commercial appeals motivated by the “missing out” factor. And it’s a factor that marketers capitalize on – both during Cyber Week and on other occasions – and it works. 

Some of the FOMO strategies retailers use during Cyber Week are:

Statistics tell us that 60% of people make a purchase as a result of FOMO. Among millennials, the number is even higher, particularly when it comes to event purchases: 69% of millennials experience FOMO, making them a huge target group for FOMO advertisers.

Deals

People love “bagging deals.” Whenever we get some sort of a bargain when we shop, we feel a sense of achievement, according to a study by Pui-Lai To and E-Ping Sung. The study claims that this sense of achievement is one of the primary motivations for online shopping.

And since e-commerce is king when it comes to Cyber Week, it’s no surprise deals are a key motivation one for consumers during this period.

Another study by MSU and the University of Florida confirms the power of “deals”. It confirms that omnichannel price promotions, especially during the holiday season, are effective and can sometimes override rational thinking, even if the bargain isn’t really a bargain.

Momentum

This aspect of Black Friday and Cyber Monday psychology is related to how our brain responds to rewards-based stimuli. A rush of success, such as the one we get from scoring a 75% off deal, gives us a shot of dopamine, stimulating our brain’s pleasure centers. 

Often, our brains get caught up in the moment after one such experience, and we crave more and more, which triggers additional purchases that we might not necessarily need. That sort of shopping momentum is what turns consumers into impulse buyers and is something marketers relentlessly capitalize on.

A study by Ravi Dhar et. al. cites excellent examples of people who were 77% more likely to buy a second, unrelated item, if they had bought the first item, whereas only 36% of those who didn’t buy the first item were likely to buy the second.

These examples show the significant impact of the dopamine rush. Of course, dopamine makes us feel amazing, and a moderate amount of it is necessary for our survival. However, too much dopamine can do more harm than good and has been linked to addiction and substance abuse.

Being addicted to compulsive buying is a real issue, which is estimated to affect 10-15% of the population. Therefore, Black Friday shoppers should be mindful and stay safe. We’ll go over some methods of managing the dopamine rush during Cyber Week in this guide.

Negative Consequences of Psychological BFCM Impact

Source: Statista

Black Friday and Cyber Monday shopping might be the biggest retail events of the year, but it doesn’t mean that they don’t have negative consequences. In fact, 60% of Generation Z and 54% of millennials regret their Black Friday purchases. 

Such regrets are one of the negative aspects of BFCM. In this section, we’ll go over the negative psychological and other BFCM consequences for consumers.

Overspending 

Starling statistics tell us that 88% of Black Friday shoppers have previously overspent during the occasion, going over their budget by the average of £511.90. 

Overspending of any kind inevitably leads to consumers having less disposable income. That leads to increased stress and anxiety and can make people turn to unhealthy coping mechanisms.

On top of that, Cyber Week overspending may mean that you have less money during the Christmas season, and your FOMO may, as a result, spiral out of control. 

For those reasons, consumers should pay attention and be mindful of the psychological impacts and consequences of BFCM overspending. 

Buyer’s Remorse

A significant psychological impact of Black Friday shopping is buyer’s remorse. That means the consumers rushed to buy things during Black Friday that they later regretted. And that’s quite a widespread phenomenon. 

For example, research by which.co.uk, done in 2021, tells us that 76% of British consumers that bought DIY products on Black Friday have later regretted doing so. For home appliance Black Friday purchases, the figure was 66%, and for fashion 49%.

The picture isn’t too different across the pond. A study by Self tells us that at least 42% of consumers regretted at least one Black Friday purchase and less than 65% of consumers use their Black Friday purchases one year on. Two in five consumers even said they didn’t need what they bought in the first place, according to a 2023 report by Starling.

Black Friday buyer’s remorse can have a negative impact on not only consumers, but also retailers themselves. The negative emotions experienced by the customer discourages them from returning to specific retailers, resulting in the latter missing out on revenue.

How to Manage the Psychological Impacts of BFCM?

The FOMO, the sense of achievement from getting a deal, and the rush of dopamine after a bargain buy can lead to stress, anxiety, and even regret. 

Here’s how you can mitigate the negative consequences of Cyber Week:

Is the Psychological Impact of BFCM Here to Stay?

Cyber Week is a symbol of shopping frenzy, discounts, and splurges. But is its psychological impact a long-lasting and inevitable aspect of today’s consumer culture that’ll be around for a long time?

There’s no way to say for sure. But our emotions are biologically triggered by certain types of information, and we can’t bypass our biology just yet. We believe that, as long as retailers continue to prioritize profits, they’ll continue pushing Black Friday shopping, regardless of the impact.

We’ve gone over the psychological and other impacts of Black Friday and Cyber Monday shopping for consumers, highlighting the potential negative consequences of the worst aspects of Cyber Week.

We saw that FOMO, sense of achievement, and shopping momentum can be a shopper’s worst enemy when it comes to BFCM shopping, and we addressed how these aspects can affect the shopper.

In conclusion, we’d like to remind everyone to be mindful of the BFCM (or any type of) discounts and to budget accordingly. Sometimes, you don’t need another tiny vacuum cleaner with “Turbo” in the name, as it’s just like the one you got at the last year’s Black Friday sale!

Sources:

• The Psychology Behind Black Friday (Adcock Solutions)
• 2023 Holiday Shopping Trends (Adobe)
• The psychology of Black Friday (Business Age)
• Are Black Friday Deals Worth It? Mining Twitter Users’ Sentiment and Behavior Response (MDPI)
• The Surprising Psychology of Black Friday Consumerism (SACAP)
• Buyer behaviors: The psychology of Black Friday and the customer experience (LoyaltyLion)
• The Boundaries of Loss Aversion (Sage Journals)
• ‘Fear of Missing Out’ (FOMO) marketing appeals: A conceptual model (ResearchGate)
• 21 FOMO Statistics: Understanding the Fear of Missing Out (TrustPulse)
• Millennials: Fueling The Experience Economy (Eventbrite)
• 4 FOMO Marketing Strategies that Increase Black Friday Sales (Cybba)
• Hedonic Motivations for Online Shopping (World Academy of Science, Engineering and Technology)
• An exploratory study of sales promotions for multichannel holiday shopping (Emerald Insight)
• Importance of Brain Reward System in Neuromarketing (IGI Global)
• The Brain’s Reward System in Health and Disease (NCBI)
• The Shopping Momentum Effect (Sage Journals)
• What is Shopping Momentum? (Voucherify)
• The Shopping Momentum Effect (ResearchGate)
• Shopping Addiction Symptoms, Causes and Effects (PsychGuides.com)
• Buyer’s Regret – Three in ten shoppers regret their Black Friday purchases (Starling Bank)
• Share of consumers who regret their past Black Friday purchases in the United States in 2023, by generation (Statista)
• Black Friday shoppers rushed into purchases they later regret, Which? research reveals (Which? Press Office)
• Black Friday Shopping Regrets (Self Credit Builder)
• 42% of Consumers Have Regretted Black Friday Purchases. How to Avoid Doing the Same This Year (The Motley Fool)
• Why shopping makes you happy (DW)
• The Consequences of Overspending (Asteria Lending)

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It seems like emerging technologies that will shape the future are arriving on a daily basis today. For businesses to stay competitive, embracing or at least acknowledging new emerging technologies is a must.

From AI to XR, these technologies are disrupting the way businesses work, as well as day-to-day consumer activities. It’s understandable, however, if you’re struggling to keep up with all the tech advancements in recent years.

To help you stay on top of the key developments, we’ve put together this list of the top 5 emerging technologies that will shape the future. Let’s take a closer look at them.

Top 5 Emerging Technologies 

These top 5 emerging technologies are changing the world – let’s learn more about their impacts across various industries.

3D Printing

Source: Statista

Additive manufacturing, or 3D printing, is one of the most important technologies of the last two decades – and it’s still in its infancy. From printing prototypes to cheap house building to creating prosthetics and bone repair, this technology offers a new dimension to producing and manufacturing tangible objects. 

Here are some influential use cases:

Education and Entrepreneurship

The earliest uses of 3D printing related to prototyping, and education and entrepreneurship are big parts of this. When armed with 3D printing, students can bring their ideas to life, and entrepreneurs can test business ideas and designs to get feedback.

Healthcare

Source: Statista

Printing bones in 3D is barely scratching the surface of what’s possible in medicine. When paired with smart sensors, 3D printing has the potential to revolutionize prosthetic care and the production of medical devices.

Construction and Manufacturing

When 3D printing is added to manufacturing processes, it can significantly reduce the costs of prototyping and product development. When it comes to architecture, using 3D printing to create precise models of buildings – or even real structures – can significantly reduce risks that arise during the construction process.

5G

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Fifth-generation connectivity, or 5G, is about a lot more than low latency and speedier mobile connections. It’s a brand-new technology that has the potential to revolutionize entire industries, ranging from manufacturing to healthcare. 

The widespread deployment of 5G communication networks will bring changes that both businesses and policymakers need to be prepared for.

A 2020 report by the World Economic Forum and PwC forecasts that 5G will generate $3.6 trillion in economic output by 2035. Let’s take a closer look at the most interesting 5G use cases:

Smart Cities and IoT

Source: Statista

Without 5G, the capacity of smart cities and the Internet of Things (IoT) would be much more limited. 5G allows sensors and devices to communicate seamlessly, optimizing traffic flow, reducing energy consumption, and enhancing public safety. That will mean that our cities will be safer, more efficient, and more sustainable.

Industry 4.0 and Manufacturing

Source: Statista

With 5G providing low latency and high reliability for Industry 4.0, the real-time monitoring and control of critical processes will be more seamless than ever. And since 5G supports AR and VR applications, many manufacturing operations will be carried out remotely, reducing the cost of site visits, for instance.

Healthcare

Telemedicine, remote patient monitoring, and VR surgeries are only a few healthcare use cases that are possible with 5G. The connectivity provided by 5G in remote areas can also ensure that people with restricted access to healthcare can get the support they need.

Artificial Intelligence

Source: Statista

We’ve written before about how AI is gaining prevalence across all industries – and it isn’t showing signs of stopping.

Whether you’re excited about AI or are weary of its implications, it can’t be disputed that the emerging technology is here to stay, in one form or another, and it’s rapidly changing the world – ChatGPT alone is on the path to disrupt many jobs, for example.

Indeed, AI has found applications across many sectors. Here are some of the key areas it’s impacting:

Finance and Compliance

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It’s not hard to imagine that advanced AI algorithms that detect fraud and assess risks in transactions would readily find applications in the financial industry and AML. In systems trained to detect suspicious financial activity, AI can reduce the risk of fraudulent transactions and money laundering.

Customer Service

An increasing number of online retailers are adopting AI chatbots for customer interaction. Chatbots can provide customers with unique, tailored experiences, resulting in increased satisfaction while also saving retailers time and money.

Manufacturing and Energy

Robotics and automation driven by AI are optimizing manufacturing processes around the world. Predictive analytics-based AI can provide insights into the amount of maintenance required, reducing the time and costs associated with post-production repairs.

When it comes to energy, AI-driven algorithms can tell you how much you should be using to optimize your operations while making enough savings to meet your sustainability targets. This could be particularly powerful if used in conjunction with 5G – and many telecom operators are working on just this problem.

Quantum Computing

Source: Statista

Quantum computing uses principles of quantum physics to solve complex problems that traditional computers can’t solve in reasonable timeframes.

By using the principles of superposition and entanglement, quantum computing increases problem-solving processing capacity and enables machines to work on multiple problems at the same time. 

Industries and governments are noticing the impact of quantum computing. For example, Canadian unicorn Xanadu received a CAD $40 million grant to pursue quantum computing work earlier this year. Here are some of the possible applications of quantum computing in the future:

Cryptography

Source: Statista

Quantum computing may break today’s AES-256-bit encryption standard. This presents new challenges for cybersecurity professionals, and it may drive the development of new quantum-resistant solutions as well as significant innovations in the sector.

Process Optimization

Large-scale manufacturing and logistical operations can be challenging to plan, especially on a global scale. Quantum computing’s capabilities can help plan complex routes, especially during crises, and effectively allocate resources.

Materials and Drug Development

Quantum computing will allow experts to build simulation models, including chemical and molecular interaction scenarios. These scenarios could introduce a brand-new era of drug development.

Similarly, simulating material properties with quantum computing may aid in the development of new materials – with implications for a wide range of industries, such as construction and energy storage.

Extended Reality and the Internet of Senses

Imagine being able to not only see the virtual world but also feel and smell objects in it. That future is possible thanks to the marriage of Extended Reality (XR) and the Internet of Senses (IoS), which is creating a sensory revolution in the digital technology field. 

The term “XR” encompasses virtual environment technologies like AR, VR, and MR (mixed reality), while “IoS” refers to a multi-sensory digital environment. The two together can enhance sensory engagement and offer multi-sensory experiences for consumers. Here are some possibilities for practical applications:

Healthcare

Source: Statista

The FDA already recognizes the potential of XR in healthcare. When combined with IoS, the sensory environment can have big implications for therapy, care, and pain management.

For instance, if someone might benefit from pet therapy but has allergies, IoS and XR combined can accommodate this by providing a VR pet that feels like a real one. Rehabilitation therapy can also be assisted with XR and IoS sensory experiences.

Gaming and Entertainment

It’s no surprise that the beautiful visuals and immersive experiences provided by XR have the potential to revolutionize gaming and entertainment. Tactile feedback from games and events, such as concerts and sports matches, could transform participants’ experiences.

Training and Simulation

XR and IoS can also help achieve huge milestones in education, training, and simulation. With multi-sensory content, complex concepts can be conveyed more easily, and trainees and students can get a type of “hands-on” experience that would previously have been challenging to simulate.

References

• 5 Exciting Emerging Technologies Shaping the Future (Ben Simon/LinkedIn)
• Top 10 Technologies That Will Shape the Future of Business in 2023 an Beyond (Chain Reaction/LinkedIn)
• Future technology: 22 ideas about to change our world (Science Focus)
• The Impact of 5G: Creating New Value across Industries and Society (World Economic Forum/PwC)
• Market share of 5G Internet of Things (IoT) endpoint installed base forecast worldwide in 2020 and 2023, by segment (Statista)
• Forecasted B2B 5G internet of things (IoT) unit sales for industry 4.0 applications from 2020 to 2030 (Statista)
• 5G contribution to global GDP by 2030, by industry (Statista)
• What is your top focus related to 3D printing in 2021? (Statista)
• Value of the medical device 3D printing market in Latin America from 2022 to 2027 (Statista)
• ChatGPT took their jobs. Now they walk dogs and fix air conditioners. (The Washington Post)
• Possible layoffs in companies in the United States due to ChatGPT adoption as of February 2023 (Statista)
• Consumer satisfaction with chatbot customer service in the United States as of June 2022 (Statista)
• Artificial intelligence (AI) adoption rate in financial businesses worldwide in 2022 and 2025 (Statista)
• Forecast quantum technology market revenue worldwide in 2040, by segment (Statista)
• What is quantum computing? (McKinsey & Company)
• Quantum security market revenue worldwide from 2021 to 2030, by method (Statista)
• Annual number of VR and AR medical devices approved for marketing by the FDA in the United States from 2015 to 2022, by therapeutic area (Statista)

The post Top 5 Emerging Technologies That Will Shape the Future appeared first on The Tech Report.

It is strange to people that color can affect our moods as humans. Many think it is superstitious to think colors have anything to do with what we feel Sand doesn’t at some point in our lives. Also, colors could influence how people respond to situations. The data shows up to 90% of an initial impression can be attributed to colors alone.

However, you must know that it is not superstition; it is psychological, and many people worldwide have been affected by this reality. You need to know many things about color psychology; this article has most of them. We have listed and explained statistics of color psychology that you need to know, so read on to learn more. 

Introduction of Color Psychology 

Color psychology is the study of how humans react to certain colors. Some colors represent love, hate, happiness, friendliness, etcetera. They also affect human behaviors in many ways. Some stains can mar or make your day because they have different notations, meanings, and psychological effects.

It is worth noting that how color affects your mood depends on age, culture, school of thought, and upbringing. Although color psychology comes on a personal note, some colors have a general response. This means nearly everyone in the world reacts similarly to the paint.

Some colors make you feel good about a financial deal and trust it enough to give your money. Some banks know how this works, so they use such colors on their walls. Some colors instill fear in you, and many organizations with such intentions have picked it up. 

Color Psychology in Marketing

Color psychology is effective in marketing. Blending the right color for your promo and advert pages is a great first step to attracting and keeping a customer. Such colors draw in people; some make it hard for viewers to skip a post and not read through.

Many brands, strategists, and marketers know this and how it works. Most have harnessed it already, but only a few haven’t. They harness this marketing strategy by adding the right colors to their logos, ad design, and other things requiring colors. They have to put the colors according to their services to stimulate people to want them.

An example is the red color, which represents hunger. It makes people want to eat more, and McDonald’s has it on their logo. Many other food brands use this color for the same purpose as McDonalds. 

Key Statistics

• The most overlooked color in the world is white. 
• About 39% of people in the world believe the most important element of a website is its colors.
• About 29% of people believe purple is a brave color.
• About 43% of people believe that black is a color that represents high quality. 
• About 26% of people think yellow symbolizes happiness and fun.
• About 76% of people think red is for danger and speed.
• Young people like brighter colors more.
• More views go to colorful ads than black-and-white.
• Of all popular colors, orange is the least.
• About 60% of people will decline products because of the colors they come in.
• Color makes up about 80% of brand recognition. 
• People perceive colors differently depending on their gender, age, and culture.
• Most men say blue is their favorite color.
• About 93% of people in the world will decide to buy a product because of its color.
• About 90% of first impressions are made with color. 
• White mostly symbolizes peace, purity, and positivity.
• Black and white mean honesty, and grey is usually complicated.

Top Facts and Statistics About Color Psychology

1. The Most Overlooked Color in the World is White.

It is not a myth that people overlook white more than other colors. Many don’t think of white as a color, even in their outfits or brands. Research has shown that only about 8% of people worldwide notice the color white on logos, even if it is popular. People usually don’t feel the need to add white significantly on their logos, ads, or outfits, even if it is a classy color with great representation. If you ask 100 people to count the colors on a company with yellow, blue, red, pink, and white, they will mostly count four colors. Only about 2% or less will count will count five, including white. 

2. About 39% of People in the World Believe the Most Important Element of a Website is Its Colors.

Color is an important element in website design; everyone believes this. It makes people feel comfortable while surfing the internet. As much as every internet-inclined person knows this to be true, about 39% think colors are even more. They believe color is not just one of the important elements of a website, but it is the most important. They think that regardless of what your website does or the hosting platform it has if it has the right color combination, it is the best. Colors appeal to these people more. 

3. About 29% of People Believe Purple is a Brave Color.

Over the years, people’s general perception of purple is that it represents royalty and luxury. It also talks about ambition, rarity, and other solid things. Although some brands have used this color to show luxury and class, they are rare. Also, a certain shade of purple represents LGBTQ resistance, called lavender. People wear purple to show their societal activism. They do it through protests and a few other movements related to activism. About 17% of people think of the color as a happy and fun color. However, about 29% of people believe it stands for bravery. These people are not wrong, as bravery connects with royalty, ambitions, and luxury. 

4. About 43% of People Believe that Black is a Color that Represents High Quality.

Black has always had a bold look. People often wear this color to confront challenges and their fears, and they wear it to be feared. It is one of the most popular colors in the world. Nearly every outfit has a touch of black, which is the same for logos. There are only a few logos without the color black on them. However, a research survey shows that about 43% of people attribute black to things with high-quality things. The color looks strong, making people think products that have it will have the same attributes. 

5. About 26% of People Think Yellow Symbolizes Happiness and Fun.

Yellow is a bright color, and it can symbolize happiness. It is contagious because people get happy at the sight of yellow, even if they usually don’t admit it. About 26% of the people in the world agree with the psychological trait of color. Although it is a happy color, some serious companies like Shell, DHL, and others use yellow as their major color.

6. About 76% Think Red is For Danger and Speed.

It is a general phenomenon that red stands for danger. Every sign that has the word ‘Danger’ on it usually has it written in red or on a red background. It is agreeable to the extent that most people don’t even use the word; they use the color, and everyone who sees it understands it. About 76% of people agree with this. Red also represents speed. Some cars have indicators that show how fast they are going, and the top speed is always in red. Many people agree with this representation because the color doesn’t scatter like the others; it gathers and tends to shoot far in the form of light. Many people will recognize red, even under rain or fog. 

7. Young People Like Brighter Colors More.

Pink, yellow, bright blue, and a few other bright colors are more enticing to younger citizens. A survey of young people between the ages of 1 and 35 has shown that many like bright colors like red, orange, and others. This is because bright colors are fun and energetic. However, orange is the least favorite for people aged 35 to 50, and for people over 70, it doesn’t make it to the list of favorites. People over 70 dislike bright colors but prefer dark and bolder colors like blue, olive green, black, and more—many like white, too. 

8. More Views Go to Colorful Ads Than Black-and-White.

Black and white make a great color combination, but it is not great for ads or any business promotion. If your brand wants more views on its ads or more people to notice, it should use a colorful ad or logo. People get attracted to bright colors more than black and white. However, it is important to combine the colors properly.

9. Of All Popular Colors, Orange is the Least.

There are colors you have yet to hear of in your lifetime, but orange is not one of them. Orange is one of the most popular colors in the world. However, it is the least popular compared to other colors. Few people have used the color lately, not in decorations, outfits, business, or other sectors.

10. About 60% of People Will Decline Products Because of the Colors They Come In.

The issue of favorite colors or color psychology is getting bigger. It is not only about attraction to many people now. Regardless of how great a product is, about 60% of people will only accept it if the color fits well with them. The other 40% will look for other product qualities, even if some of them still consider the color.

11. Color Makes Up About 80% of Brand Recognition.

The color of a brand logo or product is the first thing most people analyze before the functionalities. Many people recognize brands by their colors even more than their names sometimes. Many people call Facebook ‘The blue app,’ and they call WhatsApp ‘The green app.’ This shows how people recognize things by their color. Also, your company can attract many clients with the right color combination. 

12. People Perceive Colors Differently Based on Gender, Age, and Culture.

The perception of colors is only sometimes general. Many people derive different meanings from color based on their religions and culture. People with brown as a pure color in their cultures will think brown represents purity wherever they go. An example is that blue represents death in Asia and something else in other countries. Also, people derive meaning from color because of their genders. Statistics have shown about 80% of women chose pink as their favorite color. So, ladies will most likely select products with pink hues. It is different for boys, so pink is feminine. Another factor is age; children prefer brighter colors over bold ones. This makes people stereotype some colors and call them mature and others childish.

13. Most Men Say Blue is Their Favorite Color.

Just as most young and older women prefer pink as their favorite color, about 57% of men say blue is their favorite color. Only 35% of women choose blue as their favorite color, and less than 10% of men choose pink. Also, 14% of men choose green as their favorite color, and 9% choose black. This is because men mostly want dark and bold colors. 

14. About 93% of People Worldwide Will Buy a Product Because of the Color.

For some people, the product’s color is the first thing they consider when buying it. For others, it is the last thing they feel. However, about 93% of people think of product color, leaving the other 7% not caring about the colors.

15. About 90% of First Impressions Are Made With Color.

More than people will admit, the colors make the first impression to them about many things. A funny color combination can make someone dislike a space or product even before discovering what it offers.

16. White Mostly Symbolizes Peace, Purity, and Positivity.

For many people, white connects with peace, purity, and positivity. This notion has spread far and wide through different ages, genders, cultures, and many other factors that determine the meaning of colors. 

17. Black and White Mean Honesty, and Grey is Usually Complicated.

People mostly use black and white to describe truth; now, it has become a figure of speech. They also use grey to explain complicated things that are not entirely true or false.

Introducing Colors

Here are the popular colors you need to know about.

Green

Green often represents nature and anything that has to do with the betterment of the planet. So, brands with products that relate to nature usually use green as the dominant color on their log logo and other graphics. They use it mostly to convey serenity and calmness.

Brown

Most people see brown as a serious color, so anything it is attributed with should be serious, too. The color indicates stability, wisdom, and other serious matters. However, people think dark brown is too dull, and light relates to the truth. So, brands that want their customers to see them as serious brands will use this color.

Yellow

 If you need a bright color, one that represents happiness, then yellow should be your go-to. It shows a positive state of mind and encourages thinking outside the box. Yellow is a sign as that of bright ideas, too. 

Red

Red represents love, hunger, and danger. People decorate love events with red because it is the popular love color. Also, people use color to keep people out of the danger zone. It also works as a hunger stimulant, which is why most food brands use it. 

Blue 

Blue is a color that symbolizes calmness and reflection. The sky and the sea are blue, representing calmness and creating a space for people to reflect on life decisions.

Orange 

Orange is the least popular among all the popular colors in the world, but it is energetic. It pushes people to make the extra step that can change their lives. The color means success, and brands that know this always use it.

Conclusion

Many believe that colors can influence human thinking, feeling, and action. The mere picking the best color means you believe in it. It is not superstitious but psychological. Some colors have general meanings that a large percentage of the world population accepts. However, different people have different definitions of colors depending on their age, gender, culture, etc. Brands can harness color psychology to get more clients. They use colors that speak well about their products. This strategy has been working over the years and will continue working for more years. 

FAQs

Sources

• What Is Color Psychology?
• Color Psychology: How To Use it in Marketing and Branding
• What is the meaning of purple?
• This isn’t your Friday’s black: 10 fascinating facts about our darkest color.
• BYJU’s
• White Out: Everything You Need to Know About the Color White

The post Key Color Psychology Facts And Statistics in 2023 appeared first on The Tech Report.

The global e-waste problem is growing and should not be ignored. In 2018, the globe produced 54.4 million metric tonnes of e-waste, an increase of 28.41% from 44.7 million in 2016. Because of toxic compounds such as lead and mercury, e-waste can constitute a severe environmental risk if not treated properly.

Electronic waste contains substances that have the potential to harm the air, land, and water. Furthermore, if not properly disposed of, it can endanger both animal and human health. This page provides a detailed overview of electronic trash, including data and statistics on its generation, recycling, and disposal. Let’s get started.

Facts on E-waste

1. In 2021, the global e-waste created was roughly 54.4 million metric tonnes. In 2021, the worldwide waste in electrical and electronic components summed 57.4 million tonnes. This figure is vastly more significant than the Great Wall of China, the world’s heaviest artificial product in China.

(Source: Reuters)

2. It is anticipated that by 2023, over 347 million metric tonnes of electronic garbage will be created globally that will not be recycled. This means that by the same year, the total amount of unrecycled waste on the earth is predicted to exceed 347 million tonnes.

(Source: Weee Forum)

3. China, the US, and India are the highest producers of e-waste. Global E-waste Monitor reported that, in 2020, china generated over 10.1 million tonnes, while the US generated  6.9 million tonnes, and India ranked third place at 3.2 million tonnes.

(Source: The Round-Up)

4. Only 17.4% of e-waste was collected and recycled correctly. In 2019, 17.4% of e-waste produced was received by recycling facilities.

(Source: WHO)

5. Countries with the highest recycling of e-waste are Estonia, Norway, and Iceland. Estonia, Norway, and Iceland in 2020 had the highest recycled e-waste.

(Source: The Round-Up)

6. In 2020, the estimated value of the global e-waste recycling market will be $49,880 million. Global e-waste management had a market size of $48,880 million in 2020 and is expected to reach $143,870 million by 2028.

(Source: Allied Market Research)

Statistics of E-Waste Production

What is the Proportion of E-waste Produced Each Year?

7. Globally, over 50 million tons of electronic waste are generated yearly. E-waste makes up 70% of total toxic waste. This implies an average of 7 kg of e-waste per capita.

(Source: Statista)

What is the Quantity of E-waste on Earth?

8. Due to the rise in consumer demand for electronics and the short life cycles of products, e-waste is one of the fastest waste streams worldwide. Between 2010 and 2019, about 60% of e-waste was generated, and this rate has continued to grow steadily. 

9. In 2030, e-waste production is estimated to reach 75 million metric tons. Asia leads in e-waste, with the majority produced by China.

10. In 2014, Asia produced most of the e-waste at 16 MT, which meant 3.7 kg per inhabitant. The highest per-inhabitant generation was in Europe at 15.5 kg. 

11. The volume of e-waste between 2014 and 2019 grew by 21%.

12. 17.4% of e-waste was recycled in 2019.

13. 2019 showed the United States produced 6.92 million tons of e-waste. This means each individual made 46 pounds of waste. 

14. In 2019, 3.75 to 10.72 million tons of e-waste were shipped to developing countries. This action generated a dumping problem for these countries. 

15. United Nations predicts that in 2030, the rate of e-waste will increase by 39%.

(Source: Statista)

Will E-waste Continue Increasing?

A report by the United Nations University predicts future e-waste scenarios. 

16. The amount of e-waste has increased from 20 million to 50 million metric tons yearly. This is estimated to double by 2050 in terms of growth to 111 million metric tons per year. 

17. It is pretty challenging to predict technological advancement since electronic manufacturers are unsure of the level of development that can be achieved in the next 10 to 30 years. The level of e-waste generation will undoubtedly grow as new technology develops to replace the old. 

18. Fast-growing economies will have more e-waste, as new product purchases indicate economic prosperity.

19. According to projections, by 2030, the yearly e-waste generation globally will increase by about 30%.

20. Globally, the rate of e-waste per capita generation is at an average of 7 kg a year, though this differs in regions.

(Source: Statista)

What Region Produces the Highest Volume of E-waste?

21. Global e-waste generated is 57.4 million metric tons per year. Asia has the most increased e-waste production at 24.9 million metric tons, followed by America, Europe, Africa, and Oceania.

(Source: NCBI)

What Region has the Highest E-waste Per Capita?

22. Norway produces the highest e-waste per individual at 26kg. The United Kingdom takes second place at 23.9 kilograms, and Switzerland is in third place, producing 23.4kg. The African continent in 2019 had 2.5 kilograms per capita of waste, the lowest in the world.

(Source: Circular Online, Wikipedia)

What Countries Have the Highest Production of E-waste?

23. China, the United States, and India are the highest producers of electronic waste. The chart below shows the highest electronic waste producers’ ranking and recycling rates.

(Source: Plexstar)

E-Waste Data Composition

24. Small equipment has the highest composition, followed by large equipment at 24.4%, and temperature exchange equipment at third place with 20.1%.

What are the Most Frequent E-waste Items?

53.6Mt of electronic waste generated is made of:

25. Small equipment includes vacuum cleaners, fans, microwaves, toasters, shavers, radios, tools, toys, kettles, and hairdryers. Microwaves account for 17.4 million metric tonnes of e-waste generated.

26. Large equipment such as washing machines, tumble dryers, stoves, and dishwashers makes up 13.1 million metric tonnes.

27. Temperature exchange equipment such as freezers, heat pumps, and air conditioners comprise 10.8 million metric tonnes.

28. Screens and monitors such as televisions, notebooks, tablets, and laptops comprise 6.7 million metric tonnes. 

29. Telecoms and IT equipment such as cellphones, wireless routers, keyboards, phone cases, GPS, e-readers, and pocket calculators make up 4.7 million metric tonnes.

30. Lamps, LEDs, and bulbs comprise 0.9 million metric tonnes.

(Source: Plexstar)

Statistics on E-waste Recycling

(Source: The Roundup)

What is the Percentage of Recycled E-waste?

E-waste makes up 70% of total toxic waste. 12.5% of E-waste is recycled.

31. In 2019, 17.4% of e-waste was collected and recycled. According to the United Nations Global E-waste Monitor of 2020, 53.6 million metric tonnes globally were generated as electronic waste in 2019. This accounted for a 21% rise in 5 years. E-waste had an annual growth rate of 1.8 Mt in 2014. E-waste recycling is at a different pace than electronic production.

32. In 2019, Recycled e- waste made of iron, copper, and aluminum contributed 15 Mt of Carbon Dioxide emissions. Europe has the most significant percentage of E-waste.

33. According to analysis, households in the EU own an average of 74 electronic products, out of which 17 lay unused in drawers. Most of these new items are small consumer electronics. The international telecommunication union 2019 reported 16kg of e-waste each European person produced. Europe has the highest collection and recycling rate at 42.5%.

(Sources: UNU, Euronews)

What Continent Has the Best E-waste Recycling System?

34. Europe in 2019 had the highest rate of e-waste collection and recycling at 42.5%, Asia came second at 11.7%, America at 9.4%, Oceania at 8.8%, and Africa at the lowest at 0.9%.

What Country Has the Best Recycling System?

35. Estonia at 76%, Norway at 72%, and Iceland at 71% have the highest recycling rate. The data presented below is ranked according to the amount of formally collected and recycled waste.

The Outcome of Recycled Electronic Waste is Undefined

36. Electronic waste is toxic and can be accumulated in the soil, air, water, environment, humans, and all living things—improper handling of electronic waste results in significant loss of valuable and scarce raw materials. 

37. E-waste metals are difficult to extract. For instance, the recovery rate of cobalt is at 30%, though the technology is available to recycle 95% of it. Recycled metals are between 2 to 10 times more energy efficient than newly-med ones. 

38. Mining of disposed and unused electronics produces an 80% lesser release of carbon dioxide per unit of gold when compared with mining from the ground.

39. In 2015, the mining of raw materials accounted for 7% of global energy consumption. This implies that production is moving in the direction of secondary raw materials.

(Source: Euronews)

Worldwide Legislation Laws on E-waste are Only Sometimes Enforced

40. 78 countries in 2019 made e-waste legislation. Legislation laws in most regions need to be more effectively implemented.

41. Developing countries in northern Africa and southeastern Asia have few or no e-waste legislation laws.  

42. Twenty-five states in the United States and the District of Columbia have passed legislation laws related to electronic waste recycling. 

43. In 2014, 61 countries had legislation laws.

E-waste Management is a Lucrative Market

44. The market size of e-waste management was valued at $49,880 million in 2020 and is estimated to reach $143,870 million in 2028.

45. The demand for scarce metals has led to an increase in the price of metals. For example, in every 1, 000,000 discarded mobile phones is about 250kg of silver.

(Sources: UNU)

E-waste and the Environment: The Repercussion of Not Recycling

46. E-waste, when not properly disposed can contaminate the soil, affecting underlying water and crops. When crops absorb these toxic substances, it leads to poor crop growth and harms the health of animals and humans. The quantity of soil contaminated depends on factors such as soil type, temperature, level of acidity, and soil composition. 

47. It adversely affects human body organs, causing damage to the brain, heart, skeletal system, and kidney. It also affects the reproductive and nervous systems causing defects in birth and leading to diseases. These effects can only be prevented when e-waste is collected, properly disposed, and recycled.

Valuable Raw Materials are Lost

48. In 2019, e-waste generated $57 billion worth of copper, iron, and gold materials globally.

49. About 8% of e-waste in high-income countries is thrown into waste bins. 

50. Global e-waste was at 53.6 Megatonne in 2019, containing $57 billion in raw materials.

E-waste is Non-biodegradable

51. E-Waste is toxic and not biodegradable. It accumulates in the soil, environment, water, air, and living things and is dumped like plastic waste.

(Source: The Roundup)

E-waste Pollutes the Environment With Harmful Substances

52. Electronic waste is an integral part of waste management globally. E-Waste contains harmful substances like polychlorinated biphenyls (PCBs) and polybrominated biphenyl (PBB), negatively affecting plants, humans, and microbes.

E-waste Impacts Climate Change

53. Consumer electronic products have impacted every sector of society globally. The landmark of information and communication technology devices is felt in greenhouse gas emissions, accounting for about 65% of total lifetime emissions. This is prompted by mineral mining, supply chain transportation, and manufacturing. Greenhouse gas emissions from ICT devices were estimated to increase by 53%, with 580 million metric tons in 2020 from CO2.

(Source: Plexstar)

Conclusion

Though electronic and electrical equipment is an essential part of modern society, its manufacture requires using resources such as copper, iron, and lead. When not properly disposed of, these natural resources become toxic to the environment, plants, and humans. By creating laws and implementing them, nations will be able to curtail and salvage the impact of electronic waste on human health, wildlife, and the global environment.

FAQs

The post 50+ Alarming Global E-waste Statistics (2023 Data) appeared first on The Tech Report.

This vast sea of information, big data, has become an indispensable asset for businesses, governments, and organizations. In 2023, big data will continue to shape and revolutionize how we live, work, and make decisions.

To understand the magnitude of this data-driven revolution, we present to you “25+ Impressive Big Data Statistics for 2023.” These statistics shed light on the exponential growth of data, the evolving technologies that enable its storage and analysis, and the remarkable benefits and challenges that come hand in hand. 

Keep reading to learn more.

Key Big Data Statistics

Here are some remarkable statistics highlighting the significance of big data. These statistics underline big data’s explosive growth, economic implications, and transformative potential in various sectors.

1. In the year 2020, an astonishing 1.7 megabytes of data was generated by every individual in just one second.

2. Using big data, Netflix successfully saves $1 billion annually through customer retention strategies.

3. Daily, internet users collectively produce approximately 2.5 quintillion bytes of data.

4. A significant 95% of businesses identify managing unstructured data as a challenging issue.

5. The United States economy incurs an annual cost of up to $3.1 trillion due to poor data quality.

6. Predictions suggest the world will generate a mind-boggling 181 zettabytes of data by 2025.

7. 2023, the big data analytics market will reach a staggering $103 billion.

8. An overwhelming 97.2% of organizations invest in big data and artificial intelligence.

WhatsApp User 2023 Statistics

1. WhatsApp Reigns as the Third Most Downloaded App Globally in 2022.

In 2022, WhatsApp secured its position as the third most downloaded app worldwide, amassing a staggering 424 million downloads across both the App Store and Google Play. This remarkable achievement reflects the app’s widespread popularity and continued instant messaging and communication dominance.

(Source: MobileMarket)

2. WhatsApp’s Revenue Soared to $5 Billion in 2020, With an Estimated Average Revenue Per User (ARPU) of $4.

In 2020, WhatsApp demonstrated its financial prowess with an estimated potential revenue of $5 billion, although Facebook does not disclose revenue breakdown by company. With an average revenue per user (ARPU) projected to reach $4, WhatsApp’s monetization proved successful, cementing its position as a lucrative messaging platform.

(Source: MobileMarket)

3. WhatsApp Witnesses a 40% Surge in Usage Amidst the Coronavirus Pandemic.

Amidst the coronavirus pandemic, WhatsApp experienced a significant surge in usage, witnessing a remarkable 40% increase in its user base. As people sought reliable and convenient communication while practicing social distancing, WhatsApp emerged as a go-to platform, connecting individuals, families, and communities worldwide during these challenging times.

(Source: MobileMarket)

Unstructured Data Statistics

4. Approximately 80-90% of the Data Produced in the Present Time is in an Unstructured Format.

A staggering 80-90% of the data generated in the modern era is unstructured. This means that most of the information produced needs a predefined organization, presenting significant challenges in storage, analysis, and extracting valuable insights from this data deluge. Unstructured data repositories hold a treasure trove of helpful information capable of informing business decisions.

Traditionally, analyzing unstructured data has proven challenging. Nevertheless, the emergence of AI and machine learning has paved the way for novel software tools that efficiently navigate extensive volumes of unstructured data, unveiling valuable and actionable business insights.

(Source: MongoDB)

5. 95% of Businesses Sees Unstructured Data as a Problem for their Business.

An overwhelming 95% of businesses acknowledge managing unstructured data as a significant challenge impacting their operations. Organizing meaningful insights from unstructured data pose challenges for companies seeking to leverage its potential. Effectively addressing this issue becomes crucial for staying competitive in today’s data-driven landscape.

(Source: Forbes)

Big Data Statistics

6. 97.2% of Organizations Focus on Big Data and AI.

These executives intend to transform into an agile and data-centric organization behind these investments. They identify the inability to achieve this as the most significant threat their companies face, with 54.4% acknowledging this concern. Furthermore, 79.4% express apprehension about the potential disruption and superior performance by other data-driven companies in the market.

(Source: Zippia)

7. Global Healthcare Big Data Analytics Market Estimated at $23.94 Billion.

The global healthcare market’s value of big data analytics is estimated at $23.94 billion as of 2020. According to the source, it is projected that this industry’s worth is expected to soar to $101.07 billion by 2031, showcasing substantial growth and opportunities in the coming years.

(Source: Zippia)

8. Netflix Uses Big Data Solutions to Influence 80% of Content Choices.

Netflix collects data on viewers’ viewing habits, such as their preferred shows and movies, the devices they use, their re-watching habits, search preferences, and show/movie ratings. This wealth of information is utilized to create new content for viewers and shapes the content creation strategy for the platform.

(Source: Zippia)

Zettabyte Statistics

9. Worldwide Data is Anticipated to Surge By 61% to 175 Zettabytes by 2025.

As reported by Networkworld, the combined volume of global data is projected to increase from 33 zettabytes in the current year to 175 zettabytes by 2025. This significant growth reflects a compound annual growth rate of 61%, highlighting the rapid expansion of data in the coming years.

(Source: Networkworld)

10. Global Data Creation Estimated to Reach 79 Zettabytes in 2021, Projected to Double by 2025.

Predictions for 2021 anticipated that the global data created would reach 79 zettabytes, and this figure is set to double by 2025. Around 90% of the existing data is replicated, while only 10% represents original, new data.

(Source: Firsteguide)

11. Data Processed and Transferred Worldwide Rose From 1.2 Trillion to 59 Trillion Gigabytes Between 2010 and 2020.

This represents an increase of almost 5000%. Data interaction is rising worldwide, with many individuals and organizations using much-needed data.

(Source: Forbes)

12. It will Take a Person Roughly 282 Million Years to Download All the Data Online Today.

A large amount of data is available for internet users to download anytime. Currently, there are more than 2.5 quintillion bytes of data generated daily.

(Source: First Guide)

13. The Demand for Composite Data Analytics will Increase by 31% in 2030.

There is a rising demand for big data, with 90% of organizations utilizing a great deal of big data. This is a massive improvement from the 0.5% from a decade ago. Composable analytics will lead this surge, with over 60% of companies adopting the new trend.

(Source: Brimco)

14. 70% of Organizations will Vary Their Focus From Big to Small and Comprehensive Data by 2025.

Gartner analysts believe that big data will become obsolete quickly, and users will turn to small and comprehensive data that will maximize more effectively. Small data requires less data but offers valuable insights. Conversely, broad data enables the analysis and harmony of small, large, structured, and unstructured data sources. 

(Source: Gartner)

15. Internet Users Spend 1.2 Billion Years Online.

Internet usage has continued to rise as more users find several niches to benefit from. According to a Techwire Asia forecast, 1.2 billion years was the estimated time spent on the internet in 2019.

(Source: Tech Wire)

Social Media Stats

16. Social Media has a 33% Share of Online Time.

Social media usage is rising worldwide, with each user operating three social media accounts on average. The activities and interactions on social media platforms take a significant share of online time.

(Source: Mitsis Hotels)

17. Facebook has Nearly Two Billion Active Users.

As of April 2022, Facebook’s active user database is 1.96 billion people, ranking it the most popular social media platform worldwide.

(Source: India Times)

18. Tweeter Users Send Above 870 Million Tweets Daily.

Twitter is soaring in popularity in the online community as more users engage the platform. Users send over 870 million tweets daily, showing a massive surge on social media.

(Source: Brimco)

Big Data Investment and Development Statistics

19. 97.2% of Organizations Use Big Data and AI.

According to some executives, the focus is now on a data-driven business. 79.4% of the top executives said they fear a more data-oriented company will outperform them.

(Source: Zippia.com)

20. Using Big Data, Netflix Saves $1 Billion Yearly on Customer Relations.

Netflix is one of the beneficiaries of the big data trend, with over 180 million subscribers in 2020. The streaming giants focus on ratings, searches, and re-watched programs to harness their data.

(Source: Inside Big Data)

21. Big Data and Analytics Market Worth $49 Billion.

Big data continues to expand its reach with a compounded annual growth rate of 11% (CAGR). Wikibon forecasts that this market will gain $7 billion by 2025.

(Source: Wikibon)

22. Big Data to Grow at a 12 $CAGR in 2026.

Big data statistics for 2022 hint at a surge in the CAGR by 2026, a sign of rising adoption among institutions and individuals.

(Source: Market Data Forecast)

23. Most Companies (Approximately 96%) Seek to Hire Job Seekers With Big Data Proficiency.

Most business plan to hire job seekers who are big data specialists. AI Machine learning in India is poised to grow over 33% CAGR in 2023.

(Source: Data Science)

24. Software Sector to Bring the Highest Revenue by 2027.

The software sector is booming and rake up 45% of the total revenue share by 2027. Hardware will produce about 23% of the sum, and the remaining 32% will be for services.

(Source: Forbes)

25. 80% of Data Analytics Adoption will Show a Business Capability.

Most business owners now deliberately focus on big data to effect intelligent decisions, especially for new projects.

(Source: Gartner)

26. Internet Users Spend At Least 40% of Their Time Online.

According to a recent report, the average internet user spends most of their waking time online. They projected a figure of 12.5 trillion hours online in 2022.

(Source: Data Report)

Big Data Vital Trends

27. Internet of Things (IoT) Users to Rise to 41.6 Billion by 2025.

As the IoT expands, several devices, such as fitness and security, connect to the internet daily. The increasing utility of the IoT will keep it relevant for now and in the future.

(Source: Dell)

28. Worldwide Expenditure on Big Data Analytics Solutions will Increase to $274.3 Billion in 2022.

According to forecasts, the Big Data niche will continue to expand over the years. At the end of 2019, worldwide expenditure on Big Data reached $180 billion by the end of 2019.

(Source: BusinessWire)

29. The Ratio Between Original and Duplicated Data will be 1:10 by 2024.

This ratio was pegged at 1:9 in 2020, and the CAGR is bound to increase by 26%. Data is vital across virtually every sector and continues to grow in relevance.

(Source: Business Wire)

30. Data Science Jobs will Increase by 28% by 2026.

According to 2022 forecasts, data science-inclined jobs will increase by almost 30% by 2026. It translates to 11.5 million new jobs.

(Source: Techjury)

Conclusion

These outlined 25+ significant data statistics for 2023 highlight data’s enormous influence and potential. Businesses are beginning to understand the importance of analytics due to the exponential growth of data. As AI and machine learning reveal hidden insights, unstructured data poses obstacles and opportunities. Also, intelligent decisions and operational optimization insights are all made possible by utilizing AI. With billions in market value, sectors including healthcare and content streaming benefit. Hence, to compete against data-savvy competitors, businesses must adapt and become data-driven.

FAQs

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