Latest Industry Trends in the Medical Electronics Market

 The medical electronics market is estimated to be worth USD 5.1 billion in 2019 and is projected to reach USD 6.6 billion by 2025, at a CAGR of 4.6% from 2019 to 2025. The medical electronics industry is expected to witness strong growth in the next six years mainly due to the rising incidents of chronic diseases; increasing adoption of medical imaging, monitoring, and implantable devices; rising expenditure on healthcare across the world; and a growing elderly population.

Medical electronics market for batteries is expected to hold the largest share during the forecast period

Increasing demand for high power portable medical devices, such as cardiac monitors, respiratory monitors, hemodynamic monitors, and implantable devices, is the major factor accelerating the growth of batteries in the medical electronics market. As most of the medical devices are being computerized for better diagnosis and monitoring, the number of battery-powered medical devices is proliferating. Unexpected failure or depletion of the battery can stop the device from functioning properly and preventing it from delivering a lifesaving therapy. Therefore, there is a huge demand for safe and reliable batteries for medical devices.

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Non-invasive medical devices are expected to hold the largest market share from 2019 to 2025

Factors such as the rising government subsidies on medical devices, increasing adoption of IoT-based medical devices, surging demand for digital radiography systems, and growing use of flat-panel detectors (FPDs) contribute to the augmented demand for non-invasive products in the medical electronics market.

Patient monitoring application is expected to hold the largest market share from 2019 to 2025

Factors such as the easy availability of wireless monitoring devices and the rising incidence of lifestyle and chronic diseases are expected to drive market growth during the forecast period. The growing demand for patient monitoring devices in non-hospital settings is also expected to provide a range of growth opportunities for players in the market. The integration of patient monitoring technologies in smartphones and wireless devices is a critical trend for patient care, resulting in increasing adoption of patient remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, ambulatory wireless EEG recorders, and ambulatory event monitors.

Americas to account for the largest market share from 2019 to 2025

The Americas accounted for the largest share of the global medical electronics market in 2018. Factors such as the rise in the geriatric population, presence of advanced healthcare infrastructure, and high healthcare expenditure are supporting the growth of the market in the Americas. The medical electronic market has seen tremendous growth in terms of technological advancements, increased healthcare expenditure as a percentage of total GDP, and integration of health information technology (IT) into primary care. The region is home to a few of the leading medical devices and medical electronics and medical devices companies in the world, such as Johnson & Johnson (US), General Electric (US), Medtronic (US), and Cardinal Health Inc. (US), offering medical electronics. The region provides an ideal environment for innovation, which has facilitated massive advancements in medical technology.

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Key Market Players

The major players in medical electronics market are Analog Devices (US), Texas Instrument (US), TE Connectivity (Switzerland), Medtronics Plc (Ireland), ST Microelectronics (Switzerland), NXP Semiconductors (Netherlands), (US), Maxim Integrated Products (US), ON Semiconductor (US), Renesas Electronics Corporation (Japan), Microchip Technology (US), Tekscan, (US), Monebo (US), Cirtec Medical (US), First Sensor (Germany), Sensirion (Switzerland), Innovative Sensor Technology (Switzerland), Keller America (US), and Merit Medical Systems (US).

COVID-19 Impact on the Global Non-Volatile Memory Market

 According to the new market research report "Non-Volatile Memory Market by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND, MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), Wafer-Size, End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories.

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Traditional memories such as flash is likely to hold the largest share of non-volatile memory market during forecast period

Flash memories (SSDs) are gradually replacing magnetic storages, and they are also used as substitutes for hard drives in high-performance desktop computers. Therefore, the market size for flash memories is higher in computer storage applications compared to other consumer electronic products. NAND flash is available at a lower cost compared to SRAM and DRAM, and can retain data for longer duration; hence, it is preferred in consumer electronic applications, such as mobile phones, digital cameras, and MP3 players.

300 mm wafer size is expected to hold the largest market share of non-volatile memory market during forecasted period

Nowadays, nearly all new fab upgrade and construction activities are taking place with 300 mm wafer processing. Over the last several years, there has been a tremendous increase in 300 mm (12″) wafer usage. Nearly all major chip manufacturers have either already built or have plans to build 300 mm fabrications, and nearly all equipment manufacturers have designed their new equipment with 12″ wafers. All 300 mm wafers are double-side polished and have a notch identical to the notch found on 200 mm wafers. 

Consumer electronics is expected to hold the largest market share of non-volatile memory market during forecasted period

Consumer electronics is one of the largest application areas of non-volatile memory. The performance requirements in consumer electronics are continuously increasing owing to the rising need for high processing power and memory density while keeping product costs more or less persistent. These memory technologies have the capability to meet the requirements of consumer electronics equipped with advanced technologies such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored. Non-volatile memory technologies are widely used in consumer electronics, such as wearable devices, set-top boxes, digital cameras, tablets, handheld personal communication systems, desktop PCs, and laptops, owing to the advancements in consumer electronic devices that require high performance capability.

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115 – Tables
57 – Figures
155 – Pages

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APAC to hold largest size of non-volatile memory market during forecast period due to rapid technological advancements in the region

APAC has the largest customer base in the world for consumer and enterprise storage applications. The non-volatile memory market has major applications in consumer electronics, mobile phones, and mass storage devices, which are continuously undergoing innovation. Various technologies related to the memory solution market are still in the process of commercialization.

The companies profiled in this report are Intel Corporation (US), Toshiba Corporation (Japan), SAMSUNG ELECTRONICS (South Korea), Adesto Technologies Corporation (US), Viking Technology (Taiwan), Crossbar Inc. (US), Kilopass Technology (US), Sidense Corporation (Canada), Sandisk Corporation (US) and Micron Technology (US) And many others.

Key Developments in Safety Laser Scanner Market

 The overall safety laser scanner market is expected to grow from USD 304 million in 2018 to USD 406 million by 2023, at a high CAGR of 5.99% during 2018–2023. The safety laser scanner market offers a long-term cost-effective solution for use with new machine installations or for retro fitting machines, plants, or even vehicles. Therefore, small form factor, high user-friendliness, seamless integration, and high on power efficiency collectively are responsible for the overall growth of the market.

The healthcare & pharmaceutical end-user industry is likely to exhibit the highest CAGR during the forecast period. Additionally, the mobile safety laser scanner market is expected to witness increased adoption across automotive, consumer goods & electronics, and healthcare & pharmaceuticals end-user industry in future.

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Healthcare & pharmaceuticals segment to account for a larger size of safety laser scanner market, based on end-user sector, by 2023

Lasers in the healthcare sector is used to improve patient safety and experience. Safety laser scanners are used extensively in the pharmaceutical manufacturing industry that relates largely to drug manufacturing, which is the process of industrial-scale synthesis of pharmaceutical drugs. Laser-based safety scanners play a critical role in the optimization of warehousing, packaging, and logistics operations in manufacturing facilities. For instance, safety laser scanners are used in autonomous monitoring vehicles, or movable service robots for industrial use in the pharmaceuticals sector for collision avoidance while logistics operations are being executed. These scanners are used in receiving areas and manual warehouse areas and also for transport and storage.

Safety laser scanner market expected to grow at a higher CAGR from 2018 to 2023 because of increasing fatalities in workplaces

Key factors contributing to the growth of this market include the increasing fatalities in workplaces, increased automation with the adoption of Industry 4.0, and growing concerns for the safety of machines and workers on the production floor. Moreover, the adoption of AGVs and AGCs across end-user industries such as automotive, healthcare & pharmaceutical, consumer goods & electronics drives the growth of the safety laser scanner market.

APAC to account for largest market size during forecast period

APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rapid increase in production facilities in APAC for end-user industries such as automotive and consumer goods & electronics. Europe and North America are the next major regions that are expected to exhibit substantial growth rates in the safety laser scanner market with a high CAGR during the forecast period. Further, government policies are also in favor of increasing the number of manufacturing facilities in this region. Additionally, developing economies, such as China and India, dominate the consumer electronics market in APAC.

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Key Market Players

Key players profiled in this study include Leuze Electronics GmbH (Germany), OMRON Corporation (Japan), Panasonic Corporation (Japan), Rockwell Automation  (US), SICK AG (Germany), Banner Engineering (US), Hans Turck (US), Hokuyo Automatic Co., Ltd. (Japan), IDEC Corporation (Japan), Keyence Corporation  (Japan), Pilz GmbH & Co. KG (Germany), Datalogiv SpA (Italy), Arcus Automation Private Limited(India), and ReeR SpA (Italy).

Recent developments

•  In April 2016, Leuze Electronic introduced the RSL 400 safety laser scanner and won the GIT Safety Award and the Industry Prize for optical technologies 2016. RSL 400 has an impressive design from an economical, technological, and environmental point of view.
• In April 2017, Banner Engineering announced the opening of Turck Banner Malaysia Sdn. Bhd. (Malaysia). This office provides sales and technical support and value-added services for customers and partner companies in Malaysia and across APAC
• In June 2017, ReeR (Italy) was awarded the title of “Excellent Company 2017.” This was awarded by “4.0: technology and organization sustaining company's talent,” held in Milan, Italy, in cooperation with Borsa Italiana, Elite, and Global Strategy. The financial strength of the company and the ability of exploring niche markets, promote investment processes, internationalization, and innovation contributed majorly to win the award.

Upcoming Industrial Applications of 5G Fixed Wireless Access Networks

 The 5G fixed wireless access market is expected to grow from USD 369 million in 2019 to USD 46,366 million by 2026, growing at a CAGR of 97.47% from 2019 to 2026.

Key factors driving the growth of this market include growing demand for high-speed internet connectivity and broad network coverage with reduced latency and power consumption, increasing adoption of advanced technologies such as machine-to-machine (M2M)/Internet of Things (IoT) and millimeter-wave in 5G FWA.

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Services to account for largest share of 5G fixed wireless access market by 2026

The continuous development of broadband and cellular networks has enabled users to experience faster data transmission rates, with low latency. The increased demand for data services is primarily driven by the growing use of consumer electronic devices, and data-intensive applications such as virtual and augmented reality, 3D, and ultra-HD video. To support the increasing data traffic, more bandwidth is required. 5G is expected to provide 1,000× more bandwidth than its predecessor broadband generations—3G and 4G. Therefore, the growing data traffic would force network operators to provide high-speed bandwidth to their consumers.

Semi-urban areas to continue to grow at highest CAGR from 2019 to 2026

In general, it is challenging to upgrade or deploy the foundation infrastructure in urban and semi-urban areas due to the high cost of projects in civil works and complexities associated with high-rise buildings. FWA could overcome the challenge by providing a wireless connection with high throughput and low latency everywhere, whether replacing aging wireline infrastructure or establishing a connection with a new network node.

Residential to account for largest share of fixed wireless access market by 2026

5G fixed wireless is an ideal alternative mainly for residential customers as users can get gigabits of speeds at a competitive price, with no installation issues. There are more than 2 billion families across the world. Observing the current industry trend, less than half of the families are likely to opt for a fixed copper or fiber broadband connection by 2023. In many countries, it is not economically viable to build a fixed broadband infrastructure. Based on ITU data, the addressable market can be close to 1 billion households, with either no or poor fixed broadband connectivity. This generates an opportunity for FWA deployments.

North America is expected to hold largest share of 5G fixed wireless access market from 2019 to 2026

North America is expected to hold the largest share of the global 5G fixed wireless access market wherein the US and Canada are expected to adopt 5G FWA solutions and services at a high rate. These countries have sustainable and well-established economies, which empower them to strongly invest in R&D activities, thereby contributing significantly to the development of new technologies. The startup culture in North America is growing at a faster pace compared to other regions. North America is one of the leading markets for 5G in terms of R&D, network design/deployment, and presence of key players. In North America, the US is considered to have the most engaged user base, which is expected to grow with new subscribers.

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Major players in the 5G fixed wireless access market include Qualcomm Technologies (US), Nokia Corporation (Finland), Samsung Electronics (South Korea), Huawei (China), Ericsson (Sweden), Mimosa Networks, Inc. (US), Cohere Technologies, Inc. (US), Siklu Communication, Ltd. (Israel), AT&T Inc. (US), Verizon Communications Inc. (US), Cisco (US), Arqiva (Hampshire), Cellular South, Inc. (C Spire) (US), Orange S.A. (France), United States Cellular Corporation (US), TELUS Corporation (Canada), Telefónica (Spain), Mobile Telephone Networks (MTN) (South Africa), Swisscom (Switzerland), and Hrvatski Telekom (Croatia).

Technological Impact on the Power Supply Market in the Next 5 Years

 The overall power supply market is expected to grow from USD 25.00 billion in 2017 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Power supplies are being used in many verticals such as lighting, telecommunications, consumer electronics, medical & healthcare, industrial, food & beverages, transportation, and military & aerospace. The base year considered for the study is 2017, and the forecast has been provided for the period from 2018 to 2023.

Growing adoption of home and building automation systems, emerging telecommunications sector, increasing demand for energy-efficient devices/appliances are the key factors driving the growth of this market?

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A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, Smartphone’s, and patient-monitoring devices.

The power supply market has been segmented by output power into low, medium, and high. The market for power supply with low output power is expected to grow at the highest CAGR from 2018 to 2023. The high adoption of power supply with low output power in the telecommunications and consumer electronics applications contribute to the rapid growth of the said market.

The power supply market in APAC is expected to grow at the highest CAGR during the forecast period. Moreover, APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

Major players operating in the power supply market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), Acopian (US), Acbel Polytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

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Market Dynamics

Drivers

• Growing adoption of home and building automation systems
• Emerging telecommunications sector
• Increasing demand for energy-efficient devices/appliances

Restraints

• Increase in adoption of high-voltage direct current (HVDC) and renewable energy sources may affect growth of AC-DC market
• Various regional/country-wise regulatory and safety standards

Opportunities

• Growing use of data centers
• Increasing requirement of power supply in medical and healthcare devices

Challenges

Stringent design considerations for input power/nonstandard AC & DC inputs

Significant Demand for Cloud Gaming in the Coming Years

 The Cloud Gaming Market is estimated to be valued at USD 306 million in 2019 and is projected to reach USD 3,107 million by 2024, at a CAGR of 59.0%.

The major driving factors are the commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

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Game Platform Service to grow at higher CAGR in cloud gaming market during forecast period

Game platform service is expected to witness the highest growth in the coming years owing to the presence of key market players like Microsoft, Amazon Web Services, and Google. For instance, in March 2019, Google unveiled Stadia, which is a cloud gaming service that enables instant streaming of games on TV, desktop, laptop, tablet, or smartphone and allows users to seamlessly swap between the platforms with the help of wireless controller that connects directly to Google’s cloud.

Gaming console to hold largest size of cloud gaming market in 2019

The gaming console segment will have a major share in the cloud gaming market owing to the extensive and robust distribution network of major players such as Sony and Microsoft. The launch of cloud gaming platforms has rendered console manufacturers with a favorable opportunity to monetize on their existing library of gaming content and augment their product capabilities. These players are primarily employing their cloud gaming platforms to generate recurring revenue streams through their existing gaming users.

Video streaming to witness fastest growth in cloud gaming market in coming years

Video streaming solution relieves clients from computationally intensive graphics rendering and is ideal for clients with resource-constrained devices. Additionally, in this approach, computational load is paid along with network load since transmitting videos is more expensive than transmitting graphics commands. Owing to this, video streaming will hold the largest market share.

Avid Gamer segment held largest share of cloud gaming market in 2019

The larger market share of avid gamer segment is attributed to their regular presence in the gaming market. However, these gamers are attributed to have a stake of 15–25% of total sales volume, and they tend to be more price-sensitive compared to serious gamers. An avid gamer may become a serious gamer, but time constraints limit this possibility. Such gamers treat gaming as an alternative source of recreation and may temporarily stop gaming for studies, jobs, outdoor games, dis-interest, or boredom.

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APAC to have highest CAGR in cloud gaming market during forecast period

The APAC cloud gaming market is foreseen to augment at a significant rate owing to the increasing number of 5G infrastructure development initiatives in the region. Additionally, the cost-effective nature of the cloud gaming platforms is promoting its usage across various new customer classes that vary in investing in gaming systems due to their expensive nature.

The major players in the cloud gaming market are NVIDIA (US), Intel (US), Google (US), Microsoft (US), Amazon (US), Advanced Micro Devices (US), Sony (Japan), IBM (US), Tencent (China), and Alibaba (China).

High Demand from the Several Industries to drive the Global Telepresence Robot

The telepresence robot market is expected to grow from USD 145.8 million in 2018 to USD 312.6 million by 2023, at a CAGR of 16.5%. This market is mainly driven by the factors such as enhanced operational efficiency in enterprises due to the virtual meeting, high demand from the healthcare industry, and low cost due to the availability of supporting devices.

The telepresence robot market has been segmented on the basis of component into head components, which include camera, display, speaker, and microphone; and body that includes power source, sensor and control system; and other components comprising wheels, body materials, and accessories. The market for the body component is expected to grow at the highest CAGR during the forecast period. As the technological advancement will lead to the complexity in terms of features in telepresence robots, such as artificial intelligence (AI) and autonomous operations, the value of body parts in telepresence robots will increase faster than head components.

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The telepresence robot market based on type has been segmented into stationary and mobile robots. The market for mobile telepresence robots is expected to grow at a higher CAGR from 2018 to 2023. The application of stationary telepresence is limited only to particular areas as the stationary robot is used mainly for training purposes in almost every vertical. The mobility is already a major feature of mobile telepresence, and because of its added advantages, these telepresence robots can also find applications in several new verticals, such as defense, surveillance, and security.

The telepresence robot market based on application has been segmented into education, healthcare, enterprise, homecare, and others that include warehouse, surveillance, and defence. The market for healthcare applications is expected to grow at the highest CAGR during 2018–2023. Remotely controlled telepresence robots enable doctors to interact with their patients for consulting and training. Researchers have been developing telepresence robots that can be used for remote surgery to save lives and can be controlled by remote surgeons. These benefits are driving the overall telepresence market in the healthcare sector. The market for education applications is expected to grow at the second-highest CAGR during the forecast period.

On the basis of geography, the telepresence robot market is broadly classified into the Americas, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest CAGR during the forecast period. Major factors contributing to this growth include the emergence of new technologies in APAC which has created the increased demand for innovative and user-friendly communications.

Technical complexities leading to operational failures of telepresence robot inhibit the market growth. Fully immersive telepresence robots rely on human instructions for motion remotely, which can be controlled by a person. Internet connectivity is required for controlling a telepresence system remotely; also, it has a risk of losing connections due to network failures and the failure in its associate devices. Furthermore, the lack of secure communication and common protocols is a major challenge faced by telepresence robot market players. However, advancements in the robotic technology and wide-level adoption from education and residential sectors can generate significant opportunities for this market.

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Double Robotics (US), Inbot Technology (China), Suitable Technologies (US), Mantaro Networks (US), VGo Communications (UK), InTouch Technologies (US), Qihan Technology (China), Amy Robotics (China), Anybots (US), SuperDroid Robots (US), Ava Robotics (US), Camanio Care (Sweden), Wicron (Russia), Xandex (US), Rbot (Russia), AXYN Robotique (France), OhmniLabs (US), Swivl (US), Xaxxon Technologies (Canada), and Hease Robotics (France) are a few key players in the telepresence robot market.

Pre- and Post-COVID-19 Scenario for Digital Twin Market

 The world is facing an economic crisis due to the sudden outbreak of the COVID-19 pandemic. The pandemic has affected the growth of the end-use industries. Major oil producers are running out of storage space for extracted oil, as the demand is on a declining trend. This has resulted in a massive gap between supply and demand. The energy & power, automotive & transportation, and aerospace & defense industries are also among the key end users of digital twin technology. These industries are also witnessing a declining demand due to the pandemic.

According to MarketsandMarkets, the global digital twin market size was valued at USD 3.1 billion in 2020 and is projected to reach USD 48.2 billion by 2026. It is expected to grow at a CAGR of 58% during the forecast period.

Major factors driving the growth of the digital twin marketare the increasing demand for digital twins in the healthcare and pharmaceutical industries due to the outbreak of COVID-19 pandemic, the changing face of maintenance, and growing adoption of digital twin solutions to cope up with the COVID-19 pandemic are the key factors driving the growth of the digital twin market.

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System digital twin expected to account for a larger share of the digital twinmarketby 2026. This growth can be attributed to the increasing use of digital twin for systems in various verticals. For example, in the aerospace & defense sector, NASA uses/implements digital twins to monitor its space stations and spacecraft to ensure better safety. In the automotive & transportation sector, a start-up, SWIM AI, uses digital twins for the traffic management system in California. Likewise, Tesla uses digital twins in the of manufacturing of its cars. COVID-19 has affected every aspect of the business, and the impact is visible on the usage type market for digital twin. New installations of product/process/systems have declined after the outbreak of the pandemic. It is expected that in the post-COVID-19 period, end users will extensively implement system/process digital twins to minimize future losses.

In terms of geographic coverage, the digital twinmarkethas been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).North America held the largest share of the global digital twinmarket in 2019. In recent years, the development of various software and deployment of automation solutions in the manufacturing industries has improved production lines and downstream operations. These developments have positively impacted the growth of the digital twin market in North America due to the high economic growth and a large presence of vendors offering digital twins. Moreover, the increased R&D in the field of the IoT and IIoT and increasing demand for efficient and cost-effective technologies for product manufacturing are also supporting the regional market growth.

COVID-19 Impact on the Global Soil Monitoring Market

The soil monitoring market is estimated to be worth USD 370 million in 2020 and projected to reach USD 680 million by 2025, at a CAGR of 12.9% during the forecast period. The concentrated efforts of governments and companies to promote sustainable agriculture practices, persistent need to preserve soil quality, stringent government regulations pertaining to ecological stability and growing need for improving farm productivity to feed rising population have become the prominent factors for the growth of the soil monitoring market globally.

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The adoption of sustainable agriculture practices has been on the rise owing to the adverse impact of agriculture on the global environment resulting in climate change. The government and several players in the soil monitoring market have undertaken concerted efforts to promote sustainable agriculture practices by the deployment of technology in the farms. Moreover the rising influence of the IoT based devices  and smart sensors in the agriculture sector has been a key trend the soil monitoring market owing to several benefits provided by these devices. A major benefit provided by them is the remote sensing capability of the sensors along with digital platform to provide the necessary information to the end user in real-time. The technological advancements in the field of sensors and its affordability has resulted in the wider adoption. The cloud based platforms for the soil monitoring has attracted the farmers so as to monitor various parameters of the farm and to take timely decisions remotely.

The soil monitoring market in the APAC region is expected to witness a high growth as compared to the other regions during the forecast period 2020 to 2025. The adoption of the sensors among the farmers to monitor their fields has been on the rise in the APAC region which could provide a potential market to the players in the soil monitoring market. Moreover the government in the region is promoting the use of technology in the agriculture sector and has taken several steps to reduce the gap between technology adoption and agricultural fields. The advanced technologies such as telematics, sensing and imagery as well as the smart sensors are gaining popularity among the farmers in the APAC region which could further propel the growth of soil monitoring market in the APAC. Additionally the countries such as India, China and several Southeast Asian countries are witnessing reforms in the agriculture sector which could further boost the soil monitoring market.

The soil monitoring market for the services is expected to grow at a highest CAGR as compared to other offerings in the soil monitoring market during the forecast period. The advent of connected farming, the utilization of IoT in agricultural and non-agricultural applications, and the availability of new revenue generation models offered by agriculture technology companies have led to an increase in demand for services in the soil monitoring market. The integration of various emerging technologies such as IoT and AI with the smart sensors has led to the demand for various connectivity, integration and managed services.

The soil monitoring market for the robotics and telematics system type is expected to witness a substantial growth during the period 2020-2025. The countries such as US, Canada, Australia, Brazil, and Argentina have a number of large sized farms. The need to remotely monitor these farms with precision and to undertake several farm operations could be major factor for the growth of the robotics and telematics systems in the soil monitoring market. The various challenges faced by the farmers such as labor crisis, changing climatic condition and automation of crucial farming processes could lead to a greater demand for the telemetry and robotics in the soil monitoring market.

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Several opportunities such as huge government spending on agriculture R&D, digitization of agriculture and increased adoption of advanced farming techniques in post-COVID-19 world, and integration of advanced technologies like IoT and data analytics in soil monitoring lies in front of the companies catering to the soil monitoring market. The companies can leverage these opportunities in the soil monitoring market by providing customized solutions meeting the need of the growers and the agriculture sector in general.

Demand for Modern Microphones for Use in Smart Wearable Devices

 The global microphone market is estimated to be USD 1.6 billion in 2020 and is projected to reach 2.3 billion by 2025, at a CAGR of 7.9% during the forecast period. The factors attributing to the growth of this market include high adoption of next-generation consumer electronics, elevated use of piezoelectric microphones in IoT applications, increased number of microphones per device, and escalated demand for modern microphones for use in smart wearable devices.

The microphone market has promising growth potential due to several factors, including the increasing utilization of microphones in infotainment and safety monitoring systems in vehicles, growing use of microphones in industrial applications for the evaluation of ambient or environmental noise, increased requirement for microphone-embedded medical devices, growing implementation of different types of microphones in security cameras and audio/video-enabled surveillance systems, and the growing demand for IoT enabled connected devices with voice command feature. Also, the rapidly growing consumer electronics market in China, Japan, South Korea, and India is expected to contribute to the growth of microphone market.

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Even, countries in North America, South America, Europe, Middle East and Africa are expected to contribute significantly towards the growth of the global microphone market. The increasing demand for high-end consumer electronics such as smart home devices and wearable’s are expected to fuel the microphone market growth in Americas. Outstanding innovations such as autonomous vehicles and in-vehicle communication systems to fuel the market growth in Europe region. Moreover, the government aid in the improvement of telecom sector has helped the market for connected devices to grow in the Middle East and African countries, thereby fueling the microphone market growth in this region.

Among MEMS type, digital MEMS microphones holds the largest size of the microphone market. These microphones have various benefits such as small dimensions and greater electrical noise immunity that allows the implementation of multiple microphones in a single device. Therefore, these microphones are in demand for use in industrial equipment and consumer electronics as they offer a hands-free human–machine interface, noise cancellation, and high-quality audio.

The microphone market for commercial security and surveillance application is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for anti-theft and surveillance systems in residential areas for better monitoring and the increasing use of microphones for border security solutions. Microphones are used in a variety of surveillance solutions for loss prevention, crime deterrence, additional evidence, alarm verification, and visitor management applications. The growing rate of security threats in public places, right from airports to public cafes, is one of the major factors for the growing use of microphones in commercial security and surveillance applications.

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APAC is estimated to be the fastest growing market for microphones. The rising number of users of Smartphone’s and portable smart devices due to growing disposable incomes is likely to stimulate the microphone market growth in APAC. Also, multiple microphones are installed in each consumer electronic device for efficient noise cancellation, and an upsurge in demand for such devices per person is expected to support the microphone market growth in the long run. Moreover, emerging economies such as China and India are migrating to high-end smart devices where better audio quality is needed, which is expected to help the overall market of microphones to grow in this region.