Key Trends in 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).

The IoT market in intelligent transportation systems report is a culmination of extensive primary and secondary research that provide the current market size in terms of value and also forecasts the same for the period 2014–2020.

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Major Trends in Warehouse Management System Market

The warehouse management system market is estimated to reach USD 4.8 billion by 2024 from USD 2.1 billion in 2018, at a CAGR of 15.2% between 2018 and 2024.

Browse 38 market data tables and 60 figures spread through 183 pages and in-depth TOC on “Warehouse Management System Market by Offering (Software, Services), Deployment (On-Premise, On-Cloud), Tier Type (Advanced, Intermediate, Basic), Industry (3PL, Automotive, Food & Beverages, E-Commerce), and Region - Global Forecast to 2024”

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Warehouse management system is a software solution primarily used by warehouse operators for efficient control over various warehousing operations, including inventory management, labor management, crossdocking, picking and placing, packaging, shipping, yard management, and dock management. A WMS can be deployed on-premise or on-cloud in different industries, such as third-party logistics (3PL), ecommerce, automotive, electrical and electronics, food & beverages, and pharmaceuticals. The growth of the market is propelled by growth in e-commerce industry, emergence of multichannel distribution, globalization of supply chain networks, increasing adoption of on-cloud WMS solutions, and need for efficient forecasting models.

Based on deployment type, On-cloud expected to grow at a higher CAGR in the warehouse management system market between 2018 and 2024

On-cloud WMS software solutions are deployed or implemented using the Internet, and the unlimited computing power provided by server systems is maintained by cloud service providers. The on-cloud WMS software can be used at multiple locations, by many users, for processing large numbers of transactions simultaneously. This software is delivered either as a “one-size-fits-all” product or a uniquely configured solution accessible only by a particular customer. The customer pays a monthly or annual fee for subscription to software license, support, updates, and supplier’s infrastructure. The growing adoption of cloud services in the manufacturing and logistics industries, along with increased reliability of users on cloud companies, is fueling the adoption of on-cloud WMS software. Benefits, such as faster implementation, lower upfront installation and hardware costs, and faster return on investment are also some of the major factors driving the growth of the on-cloud WMS market. It is expected that ~80% of the new warehouses will use on-cloud warehouse management systems in the next 5 years.

Based on offering, Services expected to grow at a higher CAGR in the warehouse management system market

A warehouse management system is sold as a complete package, including service contract, along with the software. Implementation of a WMS software alone does not meet the needs of a warehouse operator as it requires a number of services to ensure smooth functioning of the software. WMS vendors sign high value contracts with their customers to provide after-sales services. These services play a major role as they keep the systems optimized and ensure lesser production cycle time. The services offered by most WMS vendors include consulting and installation, testing, maintenance, training, and software upgrades. Need for increased efficiency, constant upgrades to ensure data security, and improved operations of WMS software are the major factors boosting the demand for WMS services.

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Based on tier type, Basic (Tier 3) WMS expected to grow at a higher CAGR in the warehouse management system market

Basic (tier 3) WMSs cover only necessary functions and features required for warehouse operations. Basic WMSs offer lesser features than advanced and intermediate WMSs. However, these WMS solutions cost lesser than the other two WMS types, and require 2 to 3 months for implementation. Basic WMSs are ideal for applications in small-scale businesses, which cannot afford high initial investments in WMS. The growth of this market is driven by the increasing demand for basic WMS solutions from small and midsized warehouse operators. Further, basic WMS solutions offer higher flexibility and lower subscription cost, and can be customized as per the requirements of warehouse operators.

Food & beverages industry expected to grow at the highest CAGR between 2018 and 2024 in the warehouse management system market

The food & beverages industry is transforming at a rapid rate owing to changing customer preferences, increasing need for food safety, growing trend of processed food and packaged eatables, and rising number of online retailing companies. The food & beverages industry is constantly under pressure of meeting customers’ demands in time and keeping in check the perishability of food items before these reach customers. Factors such as need for automated and hygienic handling of food items, enhanced traceability of food items, increased sales of packaged food products, and rising trend of online shopping of grocery are encouraging food & beverages companies to implement WMS solutions in their warehousing facilities.

APAC expected to be the fastest-growing market for warehouse management system during the forecast period

APAC is expected to be the fastest-growing market for warehouse management systems between 2018 and 2024. The growth of the market in this region can be attributed to the tremendous growth of the e-commerce and manufacturing industries in emerging economies such as China, India, and Indonesia. China is a key contributor to the growth of the WMS market in APAC owing to its huge industrial and manufacturing sector. China is the key contributor to the growth of the WMS market in APAC owing to its huge industrial and manufacturing sector and increasing emphasis on domestic production. Further, foreign investments have also made a positive impact on China’s warehousing and logistics ecosystem. India is the fastest-growing market for WMS in APAC. The launch of “Make in India” initiative has supported the growth of the manufacturing and warehousing sectors in India. Japan is a developed country and is witnessing a slow but steady growth in the WMS market.

Major players involved in the warehouse management system market include Epicor Software (US), JDA Software (US), Manhattan Associates (US), Oracle (US), SAP (Germany), IBM (US), Infor (US), PSI (Germany), PTC (US), Tecsys (Canada), Blujay Solutions (UK), HighJump (US).

StudyCoverage

This research report categorizes the warehouse management system market on the basis of offering, deployment, tier type, industry, and region. This report describes the drivers, restraints, opportunities, and challenges for the growth of the warehouse management system market. The value chain analysis and competitive landscape for the market leaders has been included in the report.

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Key Developments in Automated Optical Inspection System Market

According to the new market research report "Automated Optical Inspection (AOI) System Market by Type (2D AOI, 3D AOI), Technology (Inline AOI, Offline AOI), Industry (Consumer Electronics, Telecommunications, Automotive, Medical Devices, Aerospace & Defense) and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Automated Optical Inspection (AOI) System Market size is estimated to be valued at USD 753 million in 2020 and is projected to reach USD 1,583 million by 2025; it is expected to grow at a CAGR of 16.0% during the forecast period.

Major factors fueling the growth of the market include increasing demand for consumer electronics, rising need for high-quality electronic components, demand for higher productivity by electronics manufacturing services (EMS) companies, and growing demand for AOI systems in automotive electronics.

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3D AOI systems to hold the largest size of the automated optical inspection (AOI) system market by 2025

3D AOI systems can detect faults in PCB substrates as well as defects in the ball grid array (BGA), which makes them superior to 2D AOI systems. Further, the ability to quickly inspect defects in tall components, a significant reduction in false call rates, and the ability to provide volumetric data of components under inspection make 3D AOI systems the ideal choice for electronic manufacturing service (EMS) providers in the coming years.

Inline AOI system to account for the larger size of automated optical inspection (AOI) system market by 2025

Inline AOI systems offer a higher rate of PCB inspection, which is ideal for electronics manufacturing companies involved in high volume production. Hence, most large manufacturing companies install multiple inline AOI systems in their production lines to speed up the inspection process.

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APAC to be the largest market for automated optical inspection (AOI) system market in 2025

APAC is the leading region for the global PCB production market, with countries such as China, Taiwan, Japan, and South Korea. The increase in the high-volume manufacturing of PCBs creates a demand for AOI systems with faster inspection speed.

Major players in the automated optical inspection (AOI) system market include Koh Young (South Korea), Test Research, Inc. (Taiwan), Omron (Japan), Viscom (Germany), Saki (Japan), Nordson (US), Daiichi Jitsugyo (Japan), KLA (US), Camtek (Israel), CyberOptics (US), Goepel Electronic (Germany), and Mirtec (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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The Occupancy Sensor Market is projected to reach USD 3.9 billion by 2024 from USD 2.2 billion in 2019 at a CAGR of 12.3%. The increasing demand for energy-efficient devices and government policies towards energy saving are factors driving the growth of the global occupancy sensors 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 Actuity Brands (US).

Lighting system to account for the largest share of occupancy sensor market by 2019

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.

North America to account for the largest share of occupancy sensor market by 2019

North America is expected to lead the occupancy sensor market by 2019. 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.

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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.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Key Market Dynamics in Wireless Power Transmission Market

The wireless power transmission market to grow from USD 2.5 billion in 2016 to USD 11.3 billion by 2022, at a CAGR of 23.2% between 2017 and 2022.

The key factors driving the growth of the market include the convenience offered by and consumer preference for wireless connectivity and need for effective charging systems. However, the impact of uncertified and non-standardized products on the industry coherence leads to poor user experience and high cost of wireless power transmission technology-based devices are the key restraining factors for market growth.

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Market Dynamics

Driver: Convenience offered by and consumer preference for the wireless connectivity

Currently, wireless connectivity technologies are being adopted at a high rate. The user wants to get rid of the wired connectivity because of its complexity. Nowadays, consumers expect robust wireless services everywhere including smartphones, notebooks, MP3 players, and digital cameras. Wireless connectivity offers users the freedom of mobility, quick and easy accordance, and handy operations which is why the wireless charging technology is highly deployed in consumer electronics such as smartphones, tablets, and wearable devices. This increasing “go-wireless” tendency of consumers is driving the market for the wireless power transmission technology. Many companies are providing wireless charging-enabled devices that are user friendly, cost effective, and has lifespan of 10 to 15 years. This results into the increasing demand for these devices in the market.

Restraint: Impact of uncertified and non-standardized products on the industry coherence leads to poor user experience

The wireless power transmission technology has become crucially important nowadays due to its successful implementation into consumer electronic products. Thus, to fulfil the increasing demand, various players, including start-up companies along with their innovative ideas, are entering the market to offer the wireless power transmission technology. This increases competitive pressures among the suppliers of wireless power transmission technology-based products. It is challenging for the Wireless Power Consortium (WPC) and Airfuel Alliance to bring small- and mid-sized suppliers of wireless charging products under their umbrella. Asto gain the competitive advantage, some manufacturers are launching the non-standardized and uncertified products (Qi/Rezence), at a lower cost compared to the standardized and certified products. However, the quality of these non-standardized and non-certified products is not guaranteed, and safety issue is also the main concern in these products Thus, the introduction of such uncertified products hinders the growth of the market for wireless power transmission technology.

Opportunity: Wireless power transmission in robotics (drones)

The wireless power transmission technology has been used for the research and development of mini and micro robots for wireless power transfer. Several research programs pertaining to wireless powered-drones are taking place. A transmitting coil is expected to transmit power at a higher frequency, which would be received by the receiver in robots. Imperial College of London has successfully demonstrated the wireless-powered drone which is likely to operate above five inch of wireless power transmitter. ZiiEnergy, Inc. (U.S.) developing the wireless drone receiver which works on Open Dots Alliance (ODA) standards and can deliver 45 watts of power to drones.

Challenge: Tradeoff between transmission range, efficiency, and safety of the wireless power system

The wireless power transmission technology is witnessing high growth in consumer electronics applications. It can charge various devices such as smartphones, tablets, and smartwatches. However, the wireless power transmission technology currently faces some limitations. The transmission range of wireless power transmission through electromagnetic induction and or by magnetic resonance technique is limited. This limitation of the range poses a serious challenge for the manufacturers. The efficiency of the power is inversely proportional to the distance between the transmitter and receiver. Safety issue is also the main concern for the wireless transmission market as strong electromagnetic fields may harm the biological environment. Every year, many start-ups companies enter this market, do their research activities, develop product prototypes, make the announcement of their products, and at the end, they fail to launch these products. Safety and efficiency issues make them impossible to go ahead in this market.

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Key Market Players

Texas Instruments, Inc. (US), Qualcomm, Inc. (US), Integrated Device Technology, Inc. (US), Semtech Corp. (US), Toshiba Corp. (Japan), Panasonic Corp. (Japan), and Rohm Co., Ltd. (Japan) were the major players in the wireless power transmission market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Thermal Scanners Market Worth $6.2 Billion by 2025

According to the new market research report "Thermal Scanners Market by Wavelength (LWIR, MWIR, SWIR), Application (Thermography, Security & Surveillance, Search & Rescue), Vertical (Industrial, Commercial, Aerospace & Defense, Automotive, Healthcare), Technology, Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size of Thermal Scanners Market is estimated to grow from USD 4.1 billion in 2020 to USD 6.2 billion by 2025, at a CAGR of 8.6%. Increasing government expenditure on the aerospace & defense sector is one of the factors fueling the growth of this market.

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"Market for uncooled technology-based thermal products accounted for a larger share of thermal scanners market in 2019."

The market for uncooled thermal products accounted for a larger share of the thermal scanners market in 2019. The growth of this market is attributed to the increasing demand for uncooled thermal solutions for commercial applications. Furthermore, the availability of HD resolution makes uncooled thermal solutions an ideal solution for high-resolution applications, such as military security and surveillance, industrial detection, and automotive diagnostic. Moreover, they offer long-time services due to the presence of less moving parts.

"Market for SWIR thermal products expected to grow at highest CAGR during the forecast period"

The SWIR segment is projected to lead the thermal scanners market with the highest CAGR from 2020 to 2025. The growth is anticipated due to several advantages offered by SWIR, such as the ability to see through a glass, availability in small size, and ability to see the covert laser. Moreover, as the technological advancements and efforts to launch new low-priced SWIR cameras, is likely to increase the penetration of SWIR cameras in thermal scanning systems.

"Thermography application accounted for the largest share of thermal scanners market in 2019"

The thermography application held the largest share of the thermal scanners industry in 2019. The growth is attributed to the rising use of thermal scanners at airports due to the outbreak of coronavirus and the increasing government expenditure in the military sector. According to the Stockholm International Peace Research Institute (SIPRI), in 2018, the global military expenditure was USD 1,822 billion, which increased by 2.6% compared to 2017.

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"APAC is expected to grow at highest CAGR during the forecast period"

APAC is expected to grow at the highest CAGR during the forecast period. The growth of the thermal scanners market in APAC is attributed to the presence of regional vendors in China and India, offering low-cost solutions, which in turn causes a decline in prices of thermal scanning products. Additionally, the increase in mass production of the thermal scanners in China supports the growth of the market along with the presence of several OEMs. The rising demand for thermal scanners due to the outbreak of coronavirus in various regions in the APAC region mainly in China, Japan, and South-East Asian countries, would further fuel the growth of the market.

FLIR Systems, Inc. (US), Fluke Corporation (US), Leonardo S.p.A. (Italy), L3HARRIS TECHNOLOGIES, INC. (US), and Opgal (Israel), are the key players in the thermal scanners market. These players are increasingly undertaking strategies such as product launches & developments, expansions, partnerships, agreements, contracts, and mergers & acquisitions to increase their market share.