Precision Planting Market - Size, Share & Industry Trends

The global precision planting market size is estimated to be USD 5.0 billion in 2022 and is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.3% during the forecast period.

Some of the major factors contributing to the growth of precision planting market includes the substantial cost-savings associated with precision planting and seeding equipment, surge in the adoption of advanced technologies in precision agriculture to reduce labour cost, and increasing promotion of precision planting techniques by governments worldwide. Moreover, climate change and need to meet rising demand for food will also drive the growth of the industry in the near future.

Deere & Company (US), Trimble Inc. (US), CNH Industrial N.V. (UK), Kinze Manufacturing, Inc. (US), and Precision Planting (brand of AGCO) (US) are among the major players in the precision planting market.

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High-speed precision planting systems to led the precision planting market during the forecast period

Precision planting market share will continue to be dominated by high-speed precision planting systems in 2022 and similar trend is expected to be continued by 2027. Farmers are becoming more aware of the benefits of using these planting systems as well as the high return on investment (ROI). With GPS-based auto-guidance planters, growers can reduce seed overlap during the planting process, thereby reducing input costs substantially.

Hardware segment to account for largest market share of precision planting market during the forecast period

Precision planting market share is expected to remain high in the hardware segment until 2027. Increasing adoption of automation and control devices, such as drones/unmanned aerial vehicles (UAV), GPS devices, control systems, guidance systems, delivery systems, and display systems, has contributed to the growth of this segment. Planters use hardware such as delivery systems, control systems, seed meters, sensors, and GPS devices to ensure accurate seed placement and uniform seed distribution. Agricultural vehicles use GPS-based auto-guidance technology to reduce overlapping during field mapping, which in turn saves fuel, labor, and time, and compacts soil. Precision planting hardware market growth is expected to be driven by the increasing adoption of advanced planting and seeding equipment with new features such as VRT and guidance systems for precision planting.

The precision planting market is expected to see higher growth rate for the electric drive segment during the forecast period

The electric drive makes precision planter and seeding systems simpler. Farmers for whom corn is a secondary crop say the cost of a new planter forces them to keep fixing, modifying, and upgrading the older unit. By using electric motors, farmers or growers are able to control individual row units at a variable rate. As energy consumption on farm equipment increases, they have a clear advantage over mechanical, hydraulic, and pneumatic components. The power delivery of an electric motor is consistent and uniform. The regulation of electricity is more precise than any other power source. As a result, seed placement functions in planters and drills are more accurate. With electric drive metering, hydraulic requirements such as chains, sprockets, and gears are eliminated. With fewer parts, the metering system will be simpler.

Americas likely to lead precision planting market during the forecast period.

The Americas is segmented into North America and South America. North America is expected to account for the largest share of the precision planting market during the forecast period, owing to the presence of a substantial number of large-sized farms and major players, such as Deere & Company (US), Precision Planting (brand of AGCO) (US), Kinze Manufacturing Inc. (US), and Topcon Positioning Systems (US) in this region.

Occupancy Sensor Market Share, Growth, Demand & Trends

The occupancy sensor market was valued at USD 2.2 billion in 2019 and is projected to reach USD 3.6 billion by 2025; it is expected to grow at a CAGR of 13.3% from 2020 to 2025.

Occupancy sensors are widely used in applications such as lighting, HVAC, and security and surveillance systems. They are now being integrated into consumer electronics such as PC.

Occupancy sensors are based on primarily 3 types of technologies—passive infrared, ultrasonic, and dual technology, which is a combination of passive infrared and ultrasonic. There are also other emerging types of occupancy sensors, including Doppler sensor, which is similar to radar sensors, RF sensors, and microwave-based occupancy sensor.

The occupancy sensor market is highly competitive with a large number of global and regional players. Legrand (France), Johnson Controls (US), Schneider Electric (France), Eaton (Ireland), and Signify N.V (Netherlands) are the major players in the occupancy sensor market.

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Based on Applications, the lighting systems segment to dominate the occupancy sensor market in the year 2020

The occupancy sensor market for lighting control applications is expected to grow at the CAGR of 10.9% from 2020 to 2025. Lighting systems are the most crucial application because it represents a substantial portion of energy expenses in all types of buildings, including commercial and residential. For instance, lighting systems in any commercial building contribute nearly 38 to 40% of the monthly electricity bill. However, approximately 70% of savings can be expected with the installation of occupancy sensors

The APAC region expected to be the second largest market for occupancy sensor in 2025

Increased construction activity in APAC has significantly contributed to the growth of the occupancy sensor market. New opportunities for smart lighting, occupancy sensors, and home automation are expected in APAC on the back of strong activity in the smart home space in China, Japan, South Korea, and India. The occupancy sensor market has huge potential in APAC. Countries with considerable market for occupancy sensor systems are China, Japan, Australia, and South Korea. These systems, which are an integral part of a digitalized household, are expected to find increased acceptance among consumers in this region. Although energy-efficient smart lighting products are considered an expensive option in this region, the higher energy savings vs. traditional lighting systems justify the bargain.

Growing demand for energy-efficient devices

One of the major reasons for the adoption of occupancy sensors is its growing demand for energy-efficient devices in various industries (residential buildings and commercial buildings). In addition, energy saving is considered to be among the most important factors for the development of occupancy sensors in the market. Applications such as lighting control, HVAC systems, and security surveillance mainly utilize occupancy sensors to reduce the level of energy consumption.

Rapid Liquid Printing Market Size Set to Reach New Heights in the Coming Years

The rapid liquid printing market size is expected to grow from USD 48 million in 2023 to USD 284 million by 2027 at a CAGR of 55.6% from 2023 to 2027.

Fastest printing among all 3D printing technologies, ability to print using industrial-grade materials, and ease of development of customized products are some of the major factors driving the growth of the rapid liquid printing market.

Steelcase (US), Stratasys (US), 3D Systems (US), Materilise (Belgium), ExOne (US), EOS (Germany), Dassault Systemes (France), Autodesk (US), Native Canada Footwear (Canada), and BMW (Germany) are among a few major players operating in the rapid liquid printing market.

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Rapid liquid printing market for services to grow at a higher CAGR during forecast period

The rapid liquid printing market for services is expected to grow at a higher CAGR during the forecast period. The high growth is expected due to the projected increase in the demand for custom design and manufacturing. With the increasing number of companies offering 3D printing services, it is expected that several companies will adopt rapid liquid printers for manufacturing purposes.  As the rapid liquid printing technology facilitates the manufacturing of products with complex geometries and offers competitive pricing compared to traditional manufacturing methods, several companies across industries are expected to outsource everything—from the design to the production of customized products to sustain in the highly competitive markets. As a result, the market for rapid liquid printing services is expected to witness the highest growth rate.

Rapid liquid printing market for automotive vertical is expected to grow at highest CAGR during forecast period

The rapid liquid printing market for automotive vertical is expected to capture the highest CAGR during the forecast period. This growth is mainly driven by the increasing demand for hybrid vehicles and battery-operated vehicles, along with the development of autonomous vehicles, is driving the growth of the global automotive industry. Moreover, the rise in demand for electric and autonomous vehicles is expected to fuel the demand for new automobile components and improved engine design. The adoption of 3D printing technologies to decrease the overall manufacturing cost of vehicles and improve interior designs is expected to fuel the market for 3D printing technologies in the automotive vertical.

Rapid liquid printing market in APAC to be fastest-growing market during forecast period

Rapid liquid printing market in APAC is expected to be the fastest-growing market. The growing demand for 3D printing technologies from automotive, aerospace & defense, utility, and healthcare verticals in APAC is expected to support the growth of rapid liquid printing in the region. The requirement to meet the demand for consumer products of the growing population in APAC, along with the ongoing industrialization in emerging economies, is expected to fuel the growth of consumer products and automotive verticals in this region. This, in turn, is expected to contribute to the growing demand for 3D printing technologies, which again translates to the growing demand for rapid liquid printing in APAC. China and Japan are expected to be major markets for rapid liquid printing in APAC. Japan is home to major automobile manufacturers and suppliers who are facing challenges of high labor costs and increased lead time taken by conventional production processes. As such, companies are adopting automated and advanced production technologies to overcome these challenges. The use of additive manufacturing technologies in these countries is expected to fuel the growth of the market for rapid liquid printing in APAC.

Public Public Safety-LTE Market Size, Growth & Outlook - 2030

The Public safety LTE market is expected to be valued at USD 5.9 billion in 2020 and is likely to reach USD 15.4 billion by 2025; it is expected to grow at a CAGR of 21.1% during the forecast period. Increase in demand for unmanned vehicles globally and adoption of LTE technology to eliminate the existing interconnectivity issues between different networks seamless data connectivity offered by LTE technology are driving the growth of the PS-LTE market during the forecast period.

Public safety LTE market is dominated by globally established players such as Motorola Solutions (US), Nokia(Finland), Hytera(China), General Dynamics(US), and AT&T (US).

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PS-LTE infrastructure market is expected to dominate in the Europe region

The growth of the PS-LTE market for infrastructure in Europe can be attributed to the ongoing initiatives in the region to replace the fully functional TETRA network with PS-LTE systems by 2020. Europe launched the emergency services mobile communications program (ESMCP) in 2013 that aims to provide LTE-based communication systems to first responders. Under this program, a new network, known as the emergency services network (ESN), is being developed. In June 2019, the Home Office of the UK allowed US-based Motorola Solutions to provide software for this ESN network while UK-based EE Limited developed the network infrastructure.

Law enforcement & border control application for commercial LTE segment is projected to hold the largest share during forecast period

The growth of the law enforcement & border control segment for commercial LTE can be attributed to the high popularity of commercial LTE deployment model in this application owing to low initial costs and reduced time of deployment. Commercial LTE deployment model uses existing networks of commercial carriers to provide public safety services to first responders. Furthermore, no network CAPEX is required in this deployment model, making it ideal for public safety agencies, which demand quick and low-cost PS-LTE services.

The adoption of public safety-LTE was significant in the North America region

The growth of the PS-LTE market in North America is largely driven by an increase in the number of terrorist attacks; the occurrence of natural calamities such as floods, cyclones, forest fires, and earthquakes; and cyberattacks in the region. For instance, the 9/11 attack in the US triggered the requirement for public safety communication as there were several cases of communication breakdown among different government agencies during this attack.

Automatic Identification and Data Capture Market Size - 2030

The automatic identification and data capture market size is expected to grow from USD 40.1 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 14.9% during 2020–2025.

Key factors fueling the growth of this market include growing e-commerce industry globally; increasing use of smartphones for QR code scanning and image recognition; rising adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience to users in making small-value payments; and surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy.

Honeywell (US), Datalogic S.p.A. (Italy), Zebra Technologies (US), SICK AG (Germany), Cognex Corporation (US), Toshiba (Japan), Panasonic Corporation (Japan), Thales (France), and NXP Semiconductors N.V. (Netherlands) are a few major companies in the AIDC market.

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Hardware component held the largest market share of AIDC market in 2019

The hardware component is expected to account for the largest share of the AIDC market by 2025. The high requirement for hardware components in several automatic identification and data capture products such as barcoding solutions, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID tags, printers and readers, tablets, wearables, VR devices, heads-up display devices, Google Glass, and biometric systems, has contributed to the largest size of the hardware segment.

Manufacturing vertical held share of AIDC market in 2019

The manufacturing vertical is expected to continue to account for the largest size of the AIDC market. The leading position of the manufacturing vertical, in terms of market size, can be attributed to enhanced production efficiency and reduced operational costs achieved with the utilization of AIDC products, thereby enabling the manufacturing vertical to effectively manage the increasing number of goods flowing through the supply chain process. Hence, the manufacturing vertical is likely to witness a high demand for AIDCs during the forecast period.

APAC is expected to hold a significant share of AIDC market by 2025

APAC accounted for the largest share of the AIDC market by 2025. The AIDC market in APAC is expected to grow at the highest CAGR during the forecast period. Many retail and logistics companies are expanding their presence in the region to capitalize on the increased purchasing power of the middle-class people, which has led to the growth of the automatic identification and data capture market in the region. Moreover, the significant presence of several market players, such as Panasonic (Japan), SATO (Japan), Toshiba (Japan), Godex (Taiwan), and Optoelectronics (Japan), in the region is likely to propel the growth of the automatic identification and data capture market in APAC.

Commercial Lighting Market Size, Demand & Outlook to 2031

The commercial lighting market is projected to reach USD 21.8 billion by 2025 from USD 8.2 billion in 2020; it is expected to grow at a CAGR of 21.5% during the forecast period.

The most significant factors driving the growth of this market are the ongoing and upcoming smart city projects in the developing countries, growing focus of governments worldwide on energy consumption, increasing acceptance of standard protocols for lighting control systems, escalating demand for LED lights and luminaires for use in outdoor applications, and surging use of integrated lighting control systems.

Signify (Philips Lighting) (Netherlands); Legrand S.A. (France); Acuity Brands, Inc. (US); GE Current, a Daintree Company (US); OSRAM Licht AG (Germany); Leviton Manufacturing Company, Inc. (US); Lutron Electronics (US); Hubbell Incorporated (US); LEDVANCE GmbH (Germany); Schneider Electric SE (France); Ideal Industries, Inc. (Cree Lighting) (US); and Zumtobel Group (Austria)  are a few major players in the commercial lighting market.

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Based on end-use application, the indoor segment held the largest share of the commercial lighting market in 2019.

The market for indoor smart lighting is expected to hold the larger share, owing to the high demand in commercial space. In these applications, smart lighting is an essential element in creating a modern workspace that attracts customers with changing preferences. It continues helping owners to create a flexible working environment, reduce expenses, improve work efficiencies, and create quality lighting that enhances the occupant experience. Hence, the adoption of smart lighting in commercial spaces is gaining more traction and has a high opportunity in the near future due to smart city initiatives by governments across the world.

The wired communication technology segment projected to account for a larger size of the commercial lighting market during the forecast period.

The wired segment is estimated to continue to hold a larger share of the commercial lighting market during the forecast period. Wired technology offers reliable performance and greater control. However, the cost of wiring and installation is high, especially in a commercial setting. This high cost, therefore, acts as a restraining factor for the adoption of wired technology-based smart lighting solutions.

Asia Pacific (APAC) is projected to be the fastest-growing market for commercial lighting market. This growth can be attributed to the rapid infrastructure development activities being undertaken in APAC, mainly in China, where smart lighting solutions pave the way for the modernization of infrastructure. Projects related to infrastructure modernization and development, such as smart cities, across the region would also drive the demand for smart street lights, thereby propelling the growth of the market for commercial smart lighting in this region. The increasing number of smart city and smart infrastructure projects undertaken by the governments will create several new opportunities for energy-efficient lighting and advanced lighting systems in the next few years.

Solid State Relay Market Size, Share, Trends and Revenue

The Solid state relay market report size is projected to grow from USD 1.1 billion in 2020 to USD 1.5 billion by 2025; it is expected to grow at a CAGR of 6.6% from 2020 to 2025.

The growth of the solid state relaymarket is majorly driven by surging growing adoption of high-tech electronics and automation in consumer electronics industry, increasing complexity in automobile circuits of electric vehicles, and robust features of solid state relays.

The major players are Crydom (US), Omron Corporation (Japan), Carlo Gavazzi (Switzerland), Vishay Intertechnology (US), Omega Engineering (US).

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AC output voltage expected to contribute the largest share to the solid state relay market during the forecast period

AC relays are available in a wide range of current ratings, i.e., 0–150 Amps. They are used in almost all applications, from industrial automation to medical equipment, because of the availability of a wide ampere range. The growing industrial automation market across the world is fueling the demand for AC relays.

Medium current rating segment expected to lead the solid state relay market in 2020

The medium current rating segment is expected to dominate the solid state relays market in 2020, contributing the largest share. The increasing usage of medium current rating SSRs in the industrial controls, industrial OEMs, and automotive & transportation segments is supporting the growth of the market. On the other hand, Increasing use of high current rating SSR in the elevators, conveyor systems, and machine tools to fuel the growth of high current rating segment.

Solid state relay market in APAC contributed the largest share between 2020- 2025.

The rapid growth of the automotive, food & beverage, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea is contributing to the growth of the solid state relay market in APAC. The rapid growth of the automotive, food & beverage, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea is contributing to the growth of the solid state relay (SSR) market in APAC. The impact of COVID-19 in the region has led to a significant drop in the demand for transportation connectivity, which has correspondingly declined the investments in the associated sector. This is expected to impact the supply chain of solid state relays in the region.