Key Market Dynamics in the 5G Chipset Market

The 5G chipset market is expected to grow from USD 12.8 billion in 2020 to USD 67.2 billion by 2027, at a CAGR of 26.7%. The major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet and broad network coverage, increasing cellular IoT connections, and an increase in mobile data traffic. However, the high cost of the 5G chipset is expected to restrain the growth of the market.

Market Dynamics

Drivers :

Rising demand for high-speed internet and large network coverage

Rising demand for high-speed internet and large network coverage for several applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality, is expected to propel the growth of the 5G chipset market.

Increasing demand for mobile broadband technology, high-speed data transfer, and data and information processing are driving the growth of 5G cellular technology. Also, it is likely to enhance mobile network performance capabilities and reduce the gap between poor to minimal network coverage and data connectivity that persists in current network generations (3G/4G).

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Increasing cellular IoT connections

The speed and reliability of 5G are expected to have a massive impact on machine-to-machine (M2M) and IoT. Key reasons for the increased adoption of new M2M technologies are better connectivity for smooth communication and low power requirement. The existing capacity of mobile networks must be able to handle billions of nodes that are expected to ascend in the next couple of years to achieve effective M2M communication. Currently, the network capacity is incapable of handling M2M and human-based communications, as well as their different communication patterns such as latency time. For this reason, a next-level cellular network for mobile communication, featuring hyper-connectivity and larger bandwidth, is required (e.g., 5G network). M2M communication technology will be widely used in heavy manufacturing industries and process industries (e.g., food industries) to increase the efficiency of different processes and reduce human interference with machines. M2M communication is thus expected to drive the 5G chipset market.

Growing mobile data traffic

The continuous development of cellular networks has enabled users to experience faster data rates with low latency. The rapid rise in data volume has been largely driven by consumer demand for video, as well as business and consumer moves to use cloud services.

Demand for mobile data services is primarily driven by the growing use of services and applications in both consumer electronic devices and business-to-business (B2B) communication systems that are currently using/testing data-intensive applications such as AR and VR and 3D and ultra-HD video content.

Restraints :

High cost of 5G chipset for mobile devices

Prices of smartphone chipsets that support 5G are likely to be more expensive than the 4G ones available currently. First-generation 5G chipsets were limited to premium smartphones from 2019. Volume deployment of 5G devices based on second-generation chipsets is being seen in 2020, and third-generation chipsets will enable performance-optimized 5G devices in 2021. Qualcomm offers 5G support to its flagship Snapdragon 8-series SoC only, and a limited number of premium smartphones use it. The company has planned to significantly expand the 5G lineup by offering 5G the company’s 7-series and 6-series lineups. Snapdragon 765 and Snapdragon 690 are already available for mid-range smartphones. However, the company has not revealed any plans for 4-series chipset that are used in cheaper phones. The addition of 5G to cheaper phones would give the network technology a much broader audience. Qualcomm and MediaTek are expected to lower the prices of 5G chipsets for mid-range smartphones.

EMC Shielding and Test Equipment Market is expected to grow at a CAGR of 5.2% from 2020 to 2025

The global EMC shielding and test equipment market size was valued at USD 6.4 billion in 2020 and is projected to reach USD 8.2 billion by 2025; it is expected to grow at a CAGR of 5.2% from 2020 to 2025. The key factors fueling the growth of this market include surging demand for consumer electronics, increasing electromagnetic pollutions, and ongoing demonstration of field trials and pilot tests to manifest the viability of 5G technology are instrumental in driving the growth of the EMC shielding and test equipment market.

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EMC shielding accounted for larger size of the EMC shielding and test equipment market in 2020.

EMC shielding solutions such as conductive coatings & paints, EMC shielding tapes & laminates, EMC filters, and metal shielding are majorly used for shielding various devices in several industries such as healthcare, consumer electronics, and automotive. Surging demand for consumer electronics, increasing electromagnetic pollution, and the growing trend of electric vehicles create large opportunities for the adoption of EMC shielding solutions in various application areas. Owing to such rising requirements of EMC shielding, EMC shielding is expected to dominate the market during the forecast period.

Consumer electronics vertical is expected to hold the largest size of the EMC shielding market in 2020.

The EMC shielding market for the consumer electronics vertical is expected to account for the largest share in 2020. The proliferation of consumer electronic devices, the availability of advanced products, such as wearable devices, and the need to comply with EMC shielding guidelines are expected to be the major factors contributing to the growth of the EMC shielding market in consumer electronics.

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APAC projected to be the largest market for EMC shielding and test equipment from 2020 to 2025.

The ever-increasing use of electronic systems in the automotive industry, ongoing advancements in wireless cellular infrastructure, and rising demand for consumer electronic products are expected to fuel the demand for EMC shielding solutions and test equipment in APAC. Mobile data services are also growing rapidly in APAC due to the fact that mobile operators have reduced the prices of their services to extend them to maximum end users. APAC has become a world leader in digital platforms. It has 2 of the most densely populated countries in the world. Due to its large population, the adoption of smartphones or other wireless devices and services is high in this region.

PPG Industries (US), Parker-Hannifin (US), 3M (US), Henkel (Germany), RTP Company (US), Schaffner (Switzerland), Tech-Etch (US), and Leader Tech (US) are some of the major players in EMC shielding market while Keysight Technologies (US), Rohde & Schwarz (Germany), Teseq (Switzerland), and EM Test (Switzerland) are a few significant companies in the EMC test equipment market.

North America is accounted for the largest size of the global Micro Server IC Market from 2021 to 2026

The micro server IC market is estimated to be USD 1.2 billion in 2021 and is projected to reach USD 2.2 billion by 2026; it is expected to grow at a CAGR of 12.6% from 2021 to 2026. Increasing need for new data centers across emerging regions and rising importance of edge computing and micro data centers are projected to create lucrative opportunities for the players operating in the micro server IC market during the forecast period.

North America is projected to account for the largest size of the global micro server IC market from 2021 to 2026. The presence of key industrial players and the early adoption of new technological advancements, such as machine-to-machine learning and IoT-enabled devices, smart manufacturing, and connected vehicles, are expected to create the need for more edge computing applications in North America. North America has the largest number of data centers globally. North American countries have geographical advantages of a cool climate and large availability of space, which support the establishment of mega data centers in the region.

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Efforts for the construction of new data centers provide a huge market for the micro server market in technically less advanced regions such as APAC, MEA, and LA. The market for data centers is still in the emerging phase in these regions, and the shift in paradigm for data center setups from technically advanced regions to less technically advanced would take at least 5 years to show results. Thus, it would take some time before the market for micro server ICs starts showing better results in market share in these technologically advancing regions.

X86 processors lead the micro server IC market. Intel has been operating in the micro server market for a long time. It has a wide range of partners and customers that deploy Intel-based ICs because of the availability of better software support. Micro servers based on X86 architecture from the Intel Xeon processor E3 v3 to the Intel Atom processor C2000 series provide extreme low power, high-density systems for the deployment of computing solutions that are particularly well suited to the needs of lightweight scale-out workloads, such as low-end dedicated hosting and static web serving. Micro servers can provide efficiency benefits by reducing system infrastructure such as fans and power supplies. The new improved server-class ICs launched by Intel attracts market players as they provide better performance at low power and low space utilization.

The web hosting and enterprise applications segment is expected to hold the highest market share during the forecast period. Modern-day internet users demand instant, secure, and reliable access to multimedia content. Meanwhile, security threats are constantly evolving, becoming increasingly advanced. To deliver value in the face of all these challenges, application hosting providers require proven solutions that can help deliver exceptional user experiences. Increasing internet connectivity and digitization are bringing phenomenal growth in digital content and multifold growth in user-generated content. New high-definition media content such as videos and audios would create ample opportunities for web hosting and enterprise applications by creating the need for vendors to install more energy-efficient micro servers.

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The data center segment of the micro server IC market is expected to hold the highest CAGR during the forecast period. Mobile computing, IoT, big data analytics, and cloud computing are driving significant demand in the data center industry. Technology is rapidly changing the economic landscape and creating new opportunities for more organizations to consider how they can expand their IT solutions to capitalize on emerging markets. Organizations are thinking of new data center strategies by making use of smaller edge data centers in growth markets rather than concentrating solely on larger markets. These dynamics are directly driving data center growth trends.

Ultrasonic Testing Market to Grow at the Highest CAGR during the forecast period

Ultrasonic testing techniques are primarily used in engineering industries for evaluating different properties of structures, equipment, components, and materials, without causing any damage. Ultrasonic testing is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is an important quality control tool in the manufacturing process as it allows for early detection of surface and subsurface defects in finished and work-in-progress (WIP) goods. Ultrasonic testingis also used for detecting faults and structural integrity in industrial assets and public infrastructures such as factory buildings, platforms, bridges, railway lines, piping systems, and industrial machinery.

The global ultrasonic testing market size is estimated to grow from USD 3.0billion in 2021 to USD 4.2 billion by 2026; it is expected to grow at a CAGR of 7.1% during forecast period. Stringent government regulations regarding public safety and product quality and continuous advances in electronics, automation, and robotics are the key factors driving the ultrasonic testing market's growth. The high adoption of IoT devices and rising need to assess the health of aging assets are the other factors propelling the development of the ultrasonic testing market.

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The ultrasonic testing (UT) technique is likely to hold the largest shareof the NDT and inspection market 2020. It is presently the most popular NDT technique due to its ability to identify defects and accurately determine their severity. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can be used for critical applications in the oil & gas and aerospace industries, among many others.

The power geneartion sector was the largest market for ultrasonic testing in 2020. The demand for ultrasonic testing  in the power generation sector is drivenprimarily due to mounting need for use of renewable energy resources such as solar and wind energy for power generation.Furthermore, UT plays an important role in ensuring the safety of nuclear power plants in inspection during construction and whilst in-service.

The UT market is then followed by the oil and gas vertical which is driven mainly by the government regulations for ensuring public safety and the need to save the environment by avoiding oil spills due to leaks, bursting of pipes, or any other accidents. As a majority of piping networks and refineries are quite old, it is imperative to conduct ultrasonic inspections at regular intervals to ensure asset integrity. The manufacturing sector is expected to be the fastest-growing vertical in ultrasonic testing market during the forecast period. This sector is receiving a boost from emerging markets such as China, India, and South Africa.

Ultrasonic inspection services are expected to account for the largest share of the market by services in 2026. Ultrasonic testing techniques' primary purpose is to inspect objects, materials, machinery, and structures for defects so that they can be rectified in a timely and cost-effective manner. After inspection services, training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential.

North America is expected to account for the largest share of the overall ultrasonic testing market in 2021. The demand for NDT techniques and services in this regionis driven mainly by the  power generation and oil and gas verticals. APAChas the second-largest market in 2020and showcases the highest growth rate during the forecast period. The demand for ultrasonic testing techniques and services in APAC is expected to be driven by the high demand from the power generation and manufacturing sectors.

Significant Growth in the Functional Printing Market

The Functional Printing Market is expected to reach $13.79 Billion by 2020, at a CAGR of 22.08% from 2013 to 2020.

The functional printing market report is a comprehensive research study on the printing technologies and functional inks used for printing electronics. The report covers the entire market with a special focus on the various technologies involved, namely, inkjet, flexo, gravure, screen, and others. The report also showcases market statistics and insights for the major applications. The applications covered in the report are displays, lighting, sensors, photovoltaics, batteries, and RFID.

Over the last decade, the display and lighting markets have realized the potentials of OLED technology and have been witnessing significant developments with regards to this technology. The major restraint compelling the technology from entering the mass markets like smartphones and tablets is its high rate of production. Barring LG and Samsung, in 2012, even the television market did not see many product launches. Moreover, the OLED TVs launched by these companies have been priced to the north of $8000. This trend is expected to soon change with the advent of functional printing. A number of companies have already adopted it for the production of OLED panels. The advantages like lower costs, increased efficiency, durability, higher resolution, and lower material consumption offered by functional printing technologies will, only, see the market, growing in the coming years.

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The report contains a detailed comparative study of the major technologies involved in functional printing. The market statistics for these technologies with respect to the major applications and geographies have also been presented. A holistic study of the supporting value chain segments of the market, like the materials (inks and substrates), has been conducted in perspective of the market. The market statistics for the end products; that is the applications like displays, lighting, sensors, photo-voltaics, batteries, and RFID— have been given in the report. All these statistics shown are aimed at providing the revenue stream of the functional printing whilst identifying the major revenue pockets.

Functional printing is a production process that deposits a functional material in a controlled and selective pattern upon a material. It holds a major potential to enable the next wave in high volume electronic production. The existing printing technologies are not only used for printing graphics but, also, have extended their application for printing electronic components and are, hence, used for functional printing. It is used for a number of novel applications like photovoltaic, OLED displays, sensors, RFID, batteries, and OLED lighting.

The major factor that is fuelling the growth of the market, currently, is the fact that it is a low cost manufacturing process. The conventional high-volume-low-cost printing techniques enable the production of lightweight and robust electronic components at a lower cost; and this printing process does not involve etching, metalizing, and copper plating, thus eliminating the wastewater treatment.

The stability of the ink for drop formation, the viscosity that must be suitable for the print heads and the ink interaction with the substrate— is taken into account while printing. These are the major factors inhibiting the growth of the market.

The market has been witnessing the convergence of several industry sectors such as printing, materials (substrate, inks, and chemicals), and electronics; which facilitate the development of new products.

The major companies into the functional printing market are GSI technologies (U.S.), Eastman Kodak Company (U.S.), Mark Andy Inc (U.S.), Toppan Printing Co.Ltd (Japan), BASF SE (Germany), DuPont (U.S.), KovioInc (U.S.), Toya Ink International Corp (U.S.), Vorbeck Materials (U.S.), Haiku Tech (U.S.), Xaar (U.K.), Avery Dennison (U.S.), Blue spark Technologies Inc (U.S.), Universal Display Corporation (U.S.), and so on.

High Growth & Opportunities for IoT in Transportation Market

The IoT in transportation market is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020. Africa is the leading region in the overall market, followed by Asia-Pacific (APAC) and the Middle East.

IOT is increasingly demanding more evolved devices from the semiconductor industry, with long lasting battery technologies, low power consumption, and the ability to accurately process and store data at lower costs. The report segments IoT in transportation market into six different segments such as component, products & software services, verticals, solutions, application, and geography.

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The concept of IoT has gone beyond the machine-to-machine (M2M) communication. With technological advancements and our increasing dependence on them in the day-to-day lives, it is evident that the IoT concept has a promising future. With the rate of proliferation of the wireless sensors network, the increasing adoption of emerging technologies and mainstreaming of many smart consumer applications, IoT is on its way to becoming the big thing. Few trends in the technology and application segments are projected to shape the future of IoT. Some of these critical technology trends, which are expected to have a huge impact on the IoT evolution, are big data, cloud computing, IPV6, wireless sensor network proliferation, and faster communication standards such as 4G-LTE and beyond.

The opportunities for IoT in transportation market are extremely high and mainly depend on organizations for adopting technological changes that are ever-increasing. With such a rapid change, it would be possible to have excellent quality of experience as well as better economic opportunities for users, governments, and businesses.

The IoT in transportation market is divided in to six segments, namely components, products, software & services, verticals, solutions, and applications & geography. The market, by component, includes the differentiation of components that are used to enable the proper operation of the technology. The market, by product, software, and service, gives an in-depth analysis, which helps in facilitating the growth of IoT in the transportation ecosystem. However, in case of the market size growth, the market and the product, software, and service market are taken as mutually exclusive from each other. The verticals included in IoT in transportation market are roadway, railway, airway, and maritime. Furthermore, the solution segment includes traffic, asset, ticketing, supervision, operations, passenger information, maintenance, and logistics.

The applications segment covers the major applications of IoT in transportation market that are divided into four segments, namely telematics, infotainment, advanced driver assistance system, and so on. Moreover, the IoT market in intelligent transportation systems, by geography, has been divided based on geographic locations of the countries that include the Americas, Europe, APAC, Middle East, and Africa. The Americas is the largest market, by geography, which is due to the easy availability of infrastructure for the deployment of IoT in transportation in this region.

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There are many companies that have their presence in IoT in transportation market. The players involved in the IoT market include a host of companies, right from the semiconductor OEMs to network operators, software companies, and networking equipment providers. The report profiles all the prominent companies involved in the field of IoT, such as Garmin International, Ltd. (U.S.), Thales Group (France), TomTom N.V. (The Netherlands), Denso Corp. (Japan), Alcatel-Lucent (France), Sierra Wireless, Inc. (Canada), AT&T, Inc. (U.S), Verizon Communications (U.S.), and Intel Corp. (U.S).

North America RTLS Market in Healthcare to account for the largest market share during 2020-2025

 The Real-time location systems (RTLS) market for healthcare is expected to grow fromUSD 1.4 billion in 2020 to USD 3.9 billion by 2025; it is expected to grow at a CAGR of 23.0% during the forecast period. The RTLS market for healthcare has been witnessing significant growth over the past years, mainly owing to the high adoption of RTLS solutions in hospitals and growing adoption in emerging use cases.

However, the COVID-19 outbreak is likely to result in a decline in the growth rate of the RTLS market for healthcare, especially in 2020 and 2021. This is mainly because COVID-19 has led to healthcare organizations dedicating a major part of their funds toward the procurement of medical equipment and other resources required to combat COVID-19. As RTLS solutions do not fall under the essential resources category required for COVID-19 treatment, this factor is expected to hinder the penetration rate of RTLS technology in the short run. Additionally, COVID-19 has also disrupted the supply chain of the RTLS market for healthcare, which is hindering the manufacturing, distribution, and installation of RTLS solutions.

The software segment is expected to witness the highest growth during the forecast period. Organizations or companies using RTLS solutions are expected to regularly spend a significant amount on support and maintenance services; hence, the market for services is expected to grow at the highest CAGR during the forecast period.

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The market for ultra-wideband (UWB)technology-based RTLS solutions is expected to witness significant growth during the forecast period. UWB technology-based RTLS solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support locating objects down to the range of a few centimeters. This is highly beneficial in high-intensity operations in the healthcare vertical. The rapid decline in the prices of UWB tags has also resulted in the high implementation of these tags in RTLS solutions.

The market for senior living facilities is expected to grow at a higher CAGR  between 2020 and 2025. The need to provide a higher level of safety and comfort to residents would drive the market growth during the forecast period. In addition to North America, other regions such as Europe and APAC are also adopting the senior living facility trend.

Among all regions, the RTLS market  for healthcare in APAC is expected to grow at the highest CAGR during the forecast period. China, Japan, Australia, and South Korea are expected to contribute to the growth of the RTLS for the healthcare market in APAC.

Key players in the RTLS market for healthcare are grabbing opportunities by launching new products. Besides, product launches, partnerships, agreements, and collaborationswere a fewof the other strategies adopted by companies in this market to strengthen their market position.

Head-up Display Market is expected to grow at a CAGR of 28.5% from 2020 to 2025

The Head-up Display Market with COVID-19 Impact Analysis is projected to grow from USD 1.3 billion in 2020 to USD 4.6 billion by 2025; it is expected to grow at a CAGR of 28.5% from 2020 to 2025. The increase in awareness about passenger and vehicle safety, the convenience offered by a combination of satellite navigation technology & HUD system, increasing demand for connected vehicles, increasing demand for technologically advanced HUDs, and growth of the augmented reality market are the key factors driving the head-up display market growth.

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Projector units to lead the head-up display component market during the forecast period

The projector is a major part of HUD as it projects the information on a transparent windshield. In early HUDs, refraction was used for projecting images in the projector, whereas in modern HUDs, reflection is used to project the image. Projection units use cathode ray tubes, LEDs, or liquid crystal displays to project the image. Projection units can be adjusted either below or above combiners. Projector projects image through the laser beam. Projector units are expected to lead the overall head-up display market.

Market for AR-based head-up displays projected to grow at a higher CAGR during the forecast period

Technological advancements, as well as increasing consumer demand for advanced safety functions, are expected to drive the AR-based HUD market. Monitoring multiple in-vehicle displays while driving can trigger mishaps on the road. To reduce cognitive workload while driving, AR-based HUD systems can reduce distraction and make driving safer. Driver information, assistance, and attention management can be viewed, along with real-time traffic conditions, on the windshield in the driver's line of sight.

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APAC to lead the head-up display market during the forecast period

APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the growth of HUD market. The strong growth of the automotive application in China and Japan is projected to boost the automotive market in the APAC region.

Major vendors in the head-up display market include Bosch (Germany), Nippon Seiki Co., Ltd. (Japan), Continental AG (Germany), Visteon Corporation (US), Denso Corporation (Japan), Panasonic Corporation (Japan), BAE Systems (UK), Pioneer Corporation (Japan), Yazaki (Japan), and Garmin (US).

APAC estimated to account for the largest size of the smart card market

 The smart card market is projected to reach USD 16.9 billion by 2026 from USD 13.9 billion in 2021; it is expected to grow at a CAGR of 4.0% from 2021 to 2026. Major drivers for the growth of the market are surged demand for contactless card (tap-and-pay) payments amid COVID-19, proliferation of smart cards in healthcare, transportation, and BFSI verticals, transportation, and BFSI applications; increased penetration of smart cards in access control and personal identification applications; and easy access to e-government services and risen demand for online shopping and banking. Moreover, new mode of information security of users enabled by block chain and adoption of smart cards in populated countries of APAC act as growth opportunities for developers of smart card.

A dual-interface smart card is embedded with a chip that allows the card to be used in both contact and contactless transactions. Dual interface cards allow card readers to obtain the card’s identifying information through the use of a single chip. The chip component of a dual interface card is typically embedded in an outer layer of PVC, polycarbonate, or polyester. Dual interface chip cards provide greater payment processing convenience. Dual interface smart cards are likely to witness high growth in the coming years. These cards, including both contact and contactless interfaces, enable compatibility with any card reader or POS terminal. These cards are integrated with RFID technology and EMV chips and allow contactless payment. The faster payment processing nature of these cards reduces waiting time for customers in a queue.

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MPU Microprocessor-based smart cards have a microprocessor embedded onto the chip in addition to memory blocks. This type of card can be used for more than one function and is usually designed to enable adding, deleting, and otherwise manipulating data in memory. Features such as faster processing, large memory storage, and enhanced security have enabled microprocessor-based smart cards to penetrate conventional smart card application areas and reach newer application areas, such as NFC and M2M communications. Increasing banking frauds and rising concern towards security has led to the rapid growth of the market for microprocessor-based smart cards. As the security of customer credentials is of utmost importance in the BFSI sector, microprocessor-based smart cards are expected to witness high demand in this sector in the coming years.

Smart card have various vertical, which include BFSI, telecommunications, government and healthcare, transportation, education, retail and others. Among vertical, the government and healthcare segment of the smart card market is projected to grow at the highest CAGR during the forecast period. With globalization, developing economies in APAC and RoW are expected to digitize their government institutional processes to cope with rising competition. A part of this digitization process involves converting paper-based documentation into paperless or smart card-based documentation. Therefore, smart cards are being used by governments to issue identity cards to individuals, which contain all the details of individuals. The Aadhaar card scheme in India is one such example, which helps citizens easily verify their legitimacy for availing healthcare, international travel, and other government benefits.

Europe is the second-largest market for smart card. The region comprises economically and technologically advanced countries, such as the UK and Germany, as well as severely debt-ridden countries, such as Greece and Austria. The UK, France, and Germany are the major markets for smart cards in Europe. The increasing circulation of smart cards and terminals by card companies, such as Visa and MasterCard, has led to a growth in total spending in these countries. Europe has witnessed rapid adoption of state-owned healthcare and health insurance systems than the most developed countries across the world. The European Commission has mandated the use of cards as a replacement to E- 111 paper forms for cross-border healthcare services, which has led to the growth of the smart card market in Europe. 

APAC is Expected to Hold the Largest Share of the Industrial Ethernet Market by 2026

According to MarketsandMarkets, the industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period.  Growing need for scalable, fast, reliable, and inter-operable communication protocols, increasing initiatives by governments of developing countries to promote adoption of industrial automation, and growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.

The hardware segment is expected to hold the largest share of the industrial ethernet market by 2026. Devices such as IP phones and PCs are connected to the internet to enable rapid communication in industries. Machine-to-machine (M2M) communication in the industrial environment helps facilitate efficient plant operations. It accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceutical, and food & beverage. However, a secure and robust network is required to protect internet-connected devices from data manipulation or theft. Such a robust application-specific network can be built using networking components. The hardware segment covers the components that are used to build specific communication networks. The components include switches, routers, gateways, power supply devices, controllers, and others.

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The Ethernet/IP protocol is estimated to account for the largest size of the industrial ethernet market from 2021 to 2026 in terms of value. Ethernet/IP is an industrial ethernet protocol developed by Rockwell Automation, Inc. (US) in 1990. It is now managed by the Open DeviceNet Vendors Association (ODVA). Ethernet/IP is one of the leading industrial protocols and is widely used in various industries, including hybrid and process. As Ethernet/IP uses standard ethernet and switches, it can have hundreds of nodes in a system. This allows for the use of a single network across many different endpoints on a factory floor. It facilitates users with the tools to deploy standard ethernet technology (IEEE 802.3 combined with the TCP/IP Suite) in industrial automation applications, enabling the availability of internet and enterprise connectivity at different locations.

In terms of geographic coverage, theindustrial ethernet market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). APAC is currently the largest manufacturing hub for the automobile and electronic companies. To compete with other global players, the companies in APAC use advanced automation systems, which require highly reliable communication networks for machine-to-machine (M2M) communication in their plants. The manufacturing companies in APAC extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in APAC and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in APAC is also a factor driving the growth of the regional market. The decrease in the number of COVID-19 patients in China is slowly normalizing the manufacturing activities in the country. This, in turn, is expected to drive the growth of the industrial ethernet market in APAC. However, it is likely that this growth will not be as significant as it was estimated in the pre-COVID-19 era.

North America to account for the largest size of the occupancy sensor market by 2025

The Occupancy Sensor Market with COVID-19 Impact Analysis is projected to grow from USD 1.9 billion in 2020 to USD 3.6 billion by 2025 at a CAGR of 13.3% during the forecast period. The increasing demand for energy-efficient devices and government policies towards energy saving are factors driving the growth of the global occupancy sensors market.

Factors such as expected incorporation of lighting controllers with in-built data connectivity technology, promotion of green building by governments, and developments in vision-based intelligent occupancy sensor for HVAC system are expected to create growth opportunities for the market.

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Passive infrared-based occupancy sensors led the occupancy sensor market in 2019

Passive infrared-based sensors accounted for the largest share of the occupancy sensor market in 2019. The passive infrared-based sensors are ideal and the oldest among the occupancy detection and cheaper as compared with other sensors because of which their adoption is higher than other technologies. Passive infrared-based sensors are utilized widely in places where there are fewer hindrances and interruptions, such as small offices, corridors, and meeting. Moreover, leading players offering passive infrared-based occupancy sensors include Legrand (France), Schneider Electric (France), Johnson Controls (US), and Acuity Brands (US).

 

Lighting system to account for the largest share of occupancy sensor market by 2025

The lighting system application is expected to lead the occupancy sensors market by 2019. Lighting control is the prime application area of occupancy sensors, and with the help of these sensors, over 60-70% of the costs related to lighting can be saved. Apart from saving energy costs installing occupancy sensors for lighting and HVAC controls, consumers can also minimize installation and maintenance costs, which will help in the adoption of occupancy sensors for lighting system application.

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North America to account for the largest share of occupancy sensor market by 2025

The market in North America is projected to experience an increase in traction during the forecast period due to the presence of several leading players such as Johnson Controls (US), Actuity Brands (US), Leviton Manufacturing (US). The other reasons attributed to the growth include supportive government plans, laws, programs, and associations.

 

Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (US), Signify (Netherlands), Actuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell Incorporated (US), Texas Instruments (US), OSRAM LICHIT AG (Germany), SIEMENS (Germany),  Alan Manufacturing (US), Enerlites (US), Functional Devices (US), Crestron Electronics (US), Hager Group (Germany), Brück Electronic (Germany), and Pyrotech- Tempsens Group (India) are among the major companies operating in the occupancy sensors market.

Key Market Dynamics in Semiconductor Manufacturing Equipment

The global semiconductor manufacturing equipment market is estimated to be USD 62.4 billion in 2020 and projected to reach USD 95.9 billion by 2025; at a CAGR of 9.0%. Key factors fueling the growth of this market include the increasing investments in R&D facilities due to COVID-19 impact, increasing demand for electric and hybrid vehicles, the growing consumer electronics market and increasing number of foundries due to COVID-19, trend of miniaturization and technology migration, and high demand for chips to provide computation power and connectivity for AI applications.

Market Dynamics

Driver: Growing consumer electronics market and increasing number of foundries due to COVID-19

Consumer electronics is one of the largest segments, which is solely dependent on the semiconductor industry. Consumer electronics is a huge application in the electronics industry, it boosts the global semiconductor manufacturing equipment market. The number of foundries globally has increased because of the increasing demand for consumer electronic devices. Changing chip sizes and innovative architectures in different electronic devices have uplifted the demand in the semiconductor industry, which has largely benefitted semiconductor equipment manufacturers.

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Restraint: Complexity of patterns and functional defects in manufacturing process

Tiny dust particles affect the overall semiconductor manufacturing and fabrication process which require clean room and clean equipment for manufacturing. Moreover, manufacturing defects also causes a delay in supply and can cause additional loss in the form of order cancellation and shift of customers to other suppliers. The complexity of patterns increases because of multiple patterns on a chip at a very small scale. This requires high accuracy for transferring accurate data to the chip. The complexity of wafers has increased with the need for size reduction and high density of semiconductor chips has resulted in, which ultimately decreases lithography wavelength. The shrinkage in node size will make photomasks and wafers more complex, which will consequently result in the need for new semiconductor manufacturing equipment. All these factors inhibit the growth of the semiconductor manufacturing equipment market.

Opportunity: Expanding chip industry in China

China is one of the high-growth markets for semiconductor manufacturing equipment. The country is also one of the major manufacturers and supplier of electronic items globally. The high demand for electronics devices has resulted in an increasing need for ICs, which has created several opportunities for the semiconductor industry in the country. China houses around 289 semiconductor wafer fabrication or packaging and testing plants across 20 different provinces. In addition, the country has witnessed several semiconductor equipment research and manufacturing related programs and initiatives, and various government investments to promote the development of domestically manufactured equipment. As a result, the local equipment manufacturing market has experienced the emergence of several prominent domestic companies in the semiconductor manufacturing equipment industry.

Challenges: Technical problems faced during fabrication process

The electrostatic charge creates problems which makes it difficult to maintain high levels of yield and product quality in semiconductor manufacturing. A failure in static charge control could result in electrostatic discharge (ESD) damage, particle contamination, and equipment problems. These problems become evident during the semiconductor manufacturing processes including photomask manufacturing, silicon wafer manufacturing, back-end assembling, packaging, front-end device manufacturing, and testing. For instance, during photolithography process, it is important to transfer the information present on the mask to the manufactured ICs otherwise technical difficulties could be experienced. This is a huge challenge faced by companies, as there is no tool to find defective ICs.

Agriculture IoT precision farming market to grow at highest growth during the forecast period

The Agriculture IoT Market is expected to grow from USD 12.7 billion in 2019 to USD 20.9 billion by 2024, at a CAGR of 10.4% from 2019 to 2024.

A few key factors driving the growth of this market are increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology by farmers and growers, focus on livestock monitoring and disease detection to improve farming efficiency, and rising demand for agricultural production owing to increasing population.

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Hardware to hold the largest share of agriculture IoT market during the forecast period

Hardware is expected to account for the largest share of the agriculture IoT market during the forecast period. The increasing adoption of new technologies and advanced devices for smart agriculture is expected to drive the growth of the agriculture IoT market for hardware during the forecast period. Precision farming involves hardware devices and tools to minimize input and increase crop productivity (output). Automation and control systems such as a global positioning system (GPS) receivers, guidance, and steering devices, and variable rate technology (VRT) tools play a significant role in the precision farming industry.

Agriculture IoT precision farming market for automation and control systems to grow has higher growth during the forecast period

The agriculture IoT precision farming market for Automation and control systems was valued s expected to grow at a higher CAGR from 2019 to 2024. The increasing demand for drones/unmanned aerial vehicles (UAVs) is a major reason behind the high growth of the market for automation and control systems. Also, the increasing adoption of automation and control devices such as GPS/GNSS, irrigation controller, and guidance and steering has created a new approach to farming practices and is expected to drive the market for automation and control systems.

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Agriculture IoT market in APAC is expected to grow at the highest CAGR during the forecast period

The agriculture IoT market in APAC is expected to grow at the highest CAGR during the forecast period. Factors driving the adoption of agriculture IoT technologies in APAC include the rising demand for food, growing pressure to improve yields with limited resources, and increasing requirement to protect crops from unexpected climatic changes. India, China, and Japan have embraced this technology and hold a major share of the agriculture IoT market.

Deere & Company (US), Trimble (US), Raven Industries (US), AGCO Corporation (AGCO) (US), AgJunction Inc. (AgJunction) (US), DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France), AG Leader Technology (AG Leader) (US), Tigercat (Canada), Ponsse (Finland), Komatsu Forest AB (Sweden), Caterpillar (US), Treemetrics (Ireland), Topcon Positioning Systems (US), and DICKEY-john Corporation (US) are some of the major players in agriculture IoT market.

Opportunities & Challenges in the eSIM Market 2023

The eSim market is estimated to grow from USD 253.8 Million in 2018 to USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023. The growth is attributed to the emphasis on remote SIM provisioning for M2M, favourable government regulations boosting M2M communication, and high adoption of IoT technology.

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ESIM market for the Smartphone application to grow at the highest rate between 2018 and 2023" 

The growing demand for high-bandwidth applications and rising persistent connectivity on Smartphone’s are likely to spur the growth of the eSIM market for the smartphone application during the forecast period. Smartphone vendors are endeavoured to bring eSIM into their smartphone offerings to gain a competitive edge in the market. For example, Google LLC (US) launched Pixel 2 and XL models with eSIM in October 2017. After Google, major giants such as Apple Inc. (US) and Samsung (South Korea) are expected to integrate eSIM into their flagship smartphones, and this trend is likely to be followed by key smartphone manufacturers such as Huawei Technologies Co., Ltd. (China), OPPO Electronics Corp. (China), and Xiaomi Inc. (China).

 

Consumer Electronics vertical leads the eSIM market between 2018 and 2023

ESIM offers ease of roaming or switching. In addition, it is expected that the adoption of eSIMs will reduce carrier replacement barriers. This is likely to increase the competition among telecom operators, thereby benefitting consumers. The rising adoption of high-speed data transfer technologies such as 4G and 5G, increasing social engagement activities across the world, and ongoing technological advancements are primarily driving the adoption of eSIMs in the consumer electronics vertical.

 

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North America is anticipated to lead the eSIM market by 2023

North America is a forerunner in the adoption of technological advancements across a myriad of verticals, such as automotive; energy and utilities; manufacturing; retail; Consumer Electronics; and transportation and logistics. These advancements are primarily aimed to deliver compact and low-power consumption products. Owing to this, North America is anticipated to lead the eSIM market during the forecast period. In addition, North America is a key region in the development and evolution of M2M technology. This region is home to some of the major multinational companies catering to the M2M market. Owing to this, North America is likely to dominate the eSIM market by 2023.

 

Major players operating in the eSIM market include Deutsche Telekom AG (Germany), Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NTT DOCOMO, INC. (Japan), NXP Semiconductors N.V. (Netherlands), Sierra Wireless, Inc. (Canada), Singapore Consumer Electronics Limited (Singapore), STMicroelectronics (Switzerland), and Telefónica, S.A. (Spain).

Rapid Growth of the Global Medical Electronics Market

The Medical Electronics Market with Covid-19 Impact Analysis is expected to reach USD 8.8 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 6.9% during 2021-2026 period.

The rapid growth of the global medical electronics market is attributed to the some of the driving factors such as the aging population and increasing life expectancy , increasing adoption of IoT-based smart medical devices, escalating demand for portable medical devices and wearable electronics, growing use of radiation therapy in diagnosis and treatment of diseases and existing favorable healthcare reforms and financial assistance by governments for senior citizens.

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Sensors to hold largest market share during forecast period in the medical electronics market

Sensors accounted for the largest market size for different components in the medical electronics market. The reduction in the size of sensors and the adoption of MEMS technology has opened new application areas for sensors, thereby surging the demand for these sensors. The market for flow sensors is projected to grow at the significant rate during the forecast period owing to the rising demand for ventilators, respiratory systems, and other life support systems due to COVID-19.

 

Minimally invasive medical devices is expected to witness the highest growth rate during the period 2021 and 2026

The minimally invasive medical devices are expected to show the highest growth rate during the forecast period. Minimally invasive medical devices have transformed surgical procedures by reducing the size of the incision, shortening or eliminating hospital stays, and improving recovery time and overall outcome of the patients. Minimally invasive procedures involve the use of laparoscopic, endoscopic, or catheter-based solutions, which are becoming more common.

 

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Americas to hold largest share of medical electronics market during forecast period

The Americas holds the largest share in the global medical electronics market. The major factors driving market growth include the increasing adoption of connected medical devices, the growing use of technologically advanced medical imaging devices, the rising influence of disruptive technologies such as IoT and AI in the healthcare sector. Factors such as the rise in the geriatric population, presence of advanced healthcare infrastructure, and high healthcare expenditure are supporting the growth of the medical electronics market in the Americas.

The report profiles key players such as Analog Devices (US), Texas Semiconductor (US), TE Connectivity (Switzerland), Medtronic (Ireland), ST Microelectronics (Switzerland), NXP Semiconductor (Netherlands),Cypress Semiconductor Corporation (US),Maxim Integrated Products (US),ON Semiconductor Corporation (US),Renesas Electronics Corporation (Japan),and Microchip Technology (US).