Which are the major companies in the thermal printing market?

Thermal printing is a process in which heat is used to produce an image or print on the paper. This technology does not make use of ink or toner, unlike many other printing forms, but mostly depends on thermal papers for producing images. The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% during the forecast period. Retail, transportation & logistics, manufacturing & industrial, and healthcare & hospitality are the key applications, which dominate the thermal printing market and also contribute significantly to its growth.

Major players in the thermal printing market have primarily adopted strategies such as product launches and expansions to strengthen their position in the market.

• In January 2020, SATO Holdings (Japan) launched CL4NX Plus, a thermal industrial printer designed for durability and dependability in business-critical track and trace applications across the world.
• In September 2019, Toshiba America Business Solutions (US) launched its premium thermal barcode printer, which delivers high-resolution labels with precision and speed. Toshiba’s B-EX4T3HS prints 600 dots per inch at speeds up to six inches per second, and can print labels as small as 0.51 inches wide by 0.12 inches high.

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Zebra Technologies (US) and SATO Holdings (Japan) are among the major players in the thermal printing market. Zebra Technologies is a well-known player in the thermal printing market and has over 35 years of experience and expertise in the field of printers. Strong brand name and broad product portfolio are 2 essential factors resulting in the leading position of Zebra Technologies in the thermal printing market. Apart from the strong brand name and product portfolio, the company also has strong R&D capabilities and geographic presence.

SATO Holdings (Japan) is a well-known provider of auto-ID solutions for leading manufacturing, logistics, retail, food & beverage, and healthcare companies. It has ~79 years of experience in the field of auto-ID solutions. The company has a strong thermal printer product portfolio, which is further strengthening by launching new products. For instance, in January 2020, SATO America at National Retail Federation (NRF) Annual Convention & EXPO in New York unveiled three new products, which included a smart desktop label printer, thermal industrial printer, and compact mobile printer. SATO Holdings has a strong grip on the APAC market and is further firming its grip on this region by expanding its reach. In the recent years, the company has opened a new sales branch office in Malaysia, and a subsidiary in Switzerland.

What is the growth scope of the thermal imaging market?

The global thermal imaging market is estimated to grow from USD 3.4 billion in 2020 to USD 4.6 billion by 2025; at a CAGR of 6.2%. One of the factors fueling the growth of this market is growing R&D investments by companies, governments, and capital firms to develop innovative thermal imaging solutions.

Thermal imaging is a technology used to detect temperature differences, also known as heat signatures in an environment or any object. Heat signature is defined as the amount of infrared energy emitted by an object as a function of its temperature. This heat signature is captured with the help of thermal cameras, scopes, and modules. Based on the information obtained from these devices, an electronic image is produced. The image produced helps in monitoring and inspecting, as well as detecting and measuring defects pertaining to an object. The major application area of thermal imaging product type is security and surveillance.

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In 2019, the uncooled technology segment held the larger size of the thermal imaging market. The growth of this market is attributed to its low cost. Also, they are available in small sizes, require low maintenance, and fast response as well as require less start up time.

Based on wavelength, the long-wave infrared (LWIR) segment held the largest share of the thermal imaging market during the forecast period. Thermal imaging products operating in the LWIR band are high in demand from the aerospace & defense vertical for security and surveillance applications. Also, they are significantly penetrated various industries, such as commercial, residential, automotive, food & beverages, and healthcare and life sciences.

Based on product type, thermal cameras held the largest share of the thermal imaging market in 2019 and are expected to do so during the forecast period. There are several reasons such as an electronic image of high-quality and precision is produced in less time; available in different types such as handheld, mounted, and standalone, and available in various micro- and nano-size contributes to this dominance.

Based on applications, the security and surveillance segment held the largest share of the thermal imaging market during the forecast period. Rapid urbanization leads to an increase in demand for advanced thermal imaging solutions for security and surveillance applications. Moreover, rising conflicts and terrorist activities among countries also increase demand for well-equipped systems to monitor the country borders from the illegal intrusion of enemies and protect the country from them.

Based on vertical, the aerospace & defense vertical generate the highest demand for thermal cameras, scopes, and modules, for security and surveillance applications, especially for people and motion sensing, perimeter security, and tracking objects, humans, or animals. Additionally, the aforementioned products are capable of operating in undesirable climatic conditions such as smoke, fog, smog, and haze. They are apt devices for security and surveillance as well as monitoring and inspection applications in day and nighttime. Owing to these features and benefits, the aerospace & defense industry held the largest share of the thermal imaging market in 2019 and is expected to do so during the forecast period.

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North America accounted for the largest share of the thermal imaging market and is expected to do so during the forecast period. North America is home to the major producers of thermal imaging products, such as thermal cameras, scopes, and modules. The US is the major contributor and held the largest share of the total thermal imaging market share in North America. The growth of the thermal imaging market in this region is attributed to the presence of numerous manufacturers and distributors, the low cost of thermal imaging products, and increasing government expenditure in the aerospace & defense sector.

Which embedded system applications are expected to grow the most in the coming years?

The Embedded System Market is projected to grow from USD 86.5 billion in 2020 to USD 116.2 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors fueling the growth of this market include an increase in the number of research and development activities related to embedded systems, rise in demand for advanced driver-assistance systems (ADAS) and electromobility solutions for electric vehicles and hybrid vehicles, increase in demand for portable devices such as wearables, and rise in the use of multicore processors in military applications.

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Among hardware, the FPGA segment of the market is projected to grow at the highest CAGR from 2020 to 2025

The field-programmable gate arrays (FPGA) segment of the embedded system market is projected to grow at the highest CAGR from 2020 to 2025. The growth of this segment can be attributed to the simple design cycles of FGPA and their ability to reconfigure systems based on the requirements of applications. Moreover, FPGA support parallel computing, which makes them suitable for the rapid prototyping of various digital devices. Various advancements in the telecommunication industry, such as the advent of 5G technology, are expected to drive the growth of the market for FPGA-based embedded hardware globally.

The middleware segment of the embedded system market is projected to grow at a high CAGR during the forecast period

Among software, the middleware segment of the market is projected to grow at a high CAGR from 2020 to 2025. Middleware is an alternative to the embedded operating systems (OS) and can either be incorporated in the OS or integrated with device drivers and OS. Middleware helps in reducing the complexity of applications by centralizing software architecture, usually present in application layers. Moreover, it offers connectivity, intercommunication feature, portability, security, and flexibility, which embedded OS fail to offer in distributed and heterogeneous architectures.

Based on functionality, the real-time embedded systems segment of the market is projected to grow at a high CAGR from 2020 to 2025

The real-time embedded systems segment of the embedded system market is projected to grow at a high CAGR from 2020 to 2025. Real-time embedded systems are dedicated to perform given functions within a specified time frame. Since there is an increasing focus on efficiency and power management in various applications, these embedded systems are increasingly being used in network systems, medical systems, process control systems, robot manufacturing systems, traffic control systems, multimedia systems, etc. Moreover, the rising demand for real-time data and its analysis, along with the requirement of advanced communication infrastructure for technologies such as 5G and artificial intelligence (AI), is expected to lead to demand for real-time embedded systems globally.

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The medium-scale embedded systems segment accounted for the largest share of the embedded system market in 2019

In 2019, the medium-scale embedded systems segment accounted for the largest share of the embedded system market. Medium-scale embedded systems are used for packet processing in network switches and routers and data processing in ultrasonic sensors. These systems form a major part of network and communication applications owing to their excellent power handling capacities. The increasing requirement of fast processing of embedded systems and efficient power consumption are key factors leading to the growing demand for 16-bit and 32-bit microcontrollers. Based on the number of threads and memory requirements, embedded devices commonly use either 16-bit microcontroller or 32-bit microcontroller architectures or a combination of both.

Among industries, the communication segment accounted for the largest share of the embedded system market in 2019

The communication segment accounted for the largest share of the embedded system market in 2019. Embedded systems are used in routers, Ethernet devices, wireless infrastructures, and protocol converters for high-speed data transfer to support the expanding communication infrastructures. Embedded hardware such as FPGA and ASIC are being used in various network and telecom applications. Telecom providers often integrate hard IP for interfaces such as peripheral component interconnect (PCI) Express, 100G Ethernet, and DDR3/4 for high-speed data transfer using embedded hardware such as FPGA. Moreover, technologies such as eASIC, which are cost-effective and meet power targets, are increasingly used in radio access network (RAN) equipment.

APAC is projected to hold the largest share of the embedded system market in 2025

APAC is expected to hold the largest share of the embedded system market in 2025. The growing per capita income and ongoing large-scale industrialization and urbanization are factors driving the growth of the embedded system market in this region. In addition, the availability of low-cost electronic products in APAC is expected to contribute to an increased demand for microprocessors and microcontrollers in the region. The rising use of autonomous robots and embedded vision systems is also projected to lead to an increased demand for embedded system hardware such as microprocessors and controllers for use in industrial applications in APAC.

Intel (US), Renesas (Japan), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Texas Instruments (US), Microchip (US), Cypress Semiconductors (US), Qualcomm (US), Analog Devices (US), and Infineon Technologies (Germany) are the key players operating in the embedded system market. These players are increasingly undertaking strategies such as product launches, expansions, agreements, joint ventures, partnerships, collaborations, mergers, and acquisitions to increase their market share.

Which are the major applications of inductors?

The Inductor Market is estimated to grow from USD 3.8 billion in 2020 to USD 4.7 billion by 2025; at a CAGR of 4.2%. Major driving factors of the inductor market are the increasing demand for consumer electronics that require a large number of inductors and the rising adoption of electric vehicles.

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Fixed inductor market is fastest-growing market

Most of the inductors used in the electronics industry are fixed inductors. As the electronics industry is shifting toward small form factors, fixed inductors are increasingly becoming popular, owing to their compact design and lightweight. These inductors have coils that are wound in such a manner that they remain fixed in a position. They are used in filters, sensors, transformers, motors, energy storage systems, among others. Fixed inductors can sustain in high temperatures and can operate in extreme environments; hence, the demand for these inductors is likely to increase in the near future.

Wire-wound inductors to hold largest share of inductor market in 2025

Wire-wound inductors have a core made of magnetic metals such as iron or ferrite with a wire wound around it. Unwanted radio frequencies can interfere with the audio sound quality and disrupt electrical circuits. Hence, wire-wound inductors are used as they can block or filter radio frequencies. They are typically found in car audio systems and electronic control units (ECUs) and also in electronic equipment used in communication infrastructures and mobile base stations. They are mainly used in the high-frequency circuits of mobile communication equipment, such as wireless LAN, mobile phones, broadband components, RFID tags, RF transceivers, Bluetooth, Wireless PDA, and security systems. Wire-wound inductors are larger in size and their performance is twice than that of multilayered inductors of the same size. Wire-wound inductors hold the largest market share as the manufacturing cost involved is less compared with other types of inductors and they provide a high inductance value.

Automotive is fastest-growing vertical in inductor

Inductors, used in automotive applications, have to operate under harsh environmental conditions. They can be used in various applications such as engine and transmission control units, LED drivers, HID lighting, and noise suppression for motors. Advancements in the automotive industry such as passenger comfort and safety, as well as environmental considerations, require expanding electronics to accommodate the decreasing available space. Inductors in the automotive industry are used in applications such as EMI filtering of high-power lines and energy storage for high-frequency DC-to-DC converters. In the automotive sector, surface-mount power inductors are widely used. As an increasing number of systems are becoming electrical instead of mechanical, a large amount of current is required to be appropriately regulated and filtered. Also, due to the adoption and increase in the manufacturing of electric vehicles, the demand for inductors in automobiles has significantly increased.

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APAC to hold largest share of inductor market in 2025

The growth of the inductor market in APAC is mainly driven by the growth of the consumer electronics market in the region. APAC is witnessing dynamic changes in terms of the adoption of new technologies across various industries. As APAC has low labor cost, most of the inductors are manufactured in APAC and are exported to various regions. There is an extensive rise in the demand for power, which is increasing the need for power management and thereby, accelerating the demand for inductors.

Key players in the market are Murata Manufacturing (Japan), TDK (Japan), Vishay Intertechnology (US), TAIYO YUDEN (Japan), Chilisin (Taiwan), Delta Electronics (Taiwan), Panasonic (Japan), ABC Taiwan Electronics (Taiwan), Pulse Electronics (US), Coilcraft (US), Shenzhen Sunlord Electronics (China), Bourns (US), Sumida (Japan), ICE Components (US), AVX (US), Bel Fuse (France), Falco Electronics (Mexico), GCi Technologies (US), Würth Elektronik (Germany), and Samsung Electro-Mechanics (South Korea).

These players are increasingly undertaking product launches and developments, and acquisitions, to develop and introduce new technologies and products in the market.

What are the drivers and opportunities for the medical alert systems market?

The medical alert systems market is estimated to be worth USD 6.5 billion in 2020 and is projected to reach USD 9.6 billion by 2025, at a CAGR of 7.9% from 2020 to 2025.

The medical alert systems industry is expected to witness strong growth in the next six years mainly due to the rising elderly population across the globe, increasing adoption of the mobile personal emergency response system, various healthcare reforms in different parts of the world, financial assistance to the elderly individuals, and an inclination towards independent living.

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Medical alert systems market for PERS devices is expected to hold the largest share during the forecast period

The high market share of PERS devices is mainly due to the rising aging population in different parts of the world, along with an inclination of the seniors to live an independent life while staying secure during an emergency. The other factors contributing towards the larger market share of PERS includes rising per capita expenditure towards the healthcare across the globe, availability of advanced medical facilities, growing awareness towards healthcare, adoption of mPERS. Digital transformation and the use of technologies such as IoT, and artificial intelligence (AI) in the PERS devices have resulted in a significant demand for the PERS in major parts of the world. The PERS devices include features like automatic fall detection, automatic call assistance and location tracing which helps the elderly individuals in case of an emergency when they are unable to press the help button. The rising demand for personal emergency response systems among older adults has resulted in the accelerated growth of the market.

Wired medical alert systems market are expected to hold the largest market share from 2020 to 2025

The wired or in-home medical alert devices are expected to hold a high market share as the older people who spent most of their time at home find it easy to use. Wired medical alert systems are the traditional and most reliable devices used by senior citizens during a medical emergency. Wired PERS can be used through either Plain Old Telephone Services (POTS), also known as a standard phone line, or advanced digital or Voice over Internet Protocol (VoIP), or Digital Subscriber Line (DSL) phone services. Standard landline personal emergency response system devices are very easy to use and suitable for senior citizens who stay alone at home. The senior citizens, who often lack technological awareness, find the wired PERS devices user-friendly. Thus, the wired medical alert system market is the largest revenue-generating segment.

Home-based users are expected to hold the largest market share from 2020 to 2025

The introduction of smart medical alert systems with additional monitoring features is one of the reasons for the high market share of the home-based application. The increasing adoption of emerging technology like AI and IoT in the medical alert systems has improved the efficiency of these systems and provides a number of opportunities to the medical alert system providers. The demand for home-based users is likely to stay high due to the independence it provides to the senior citizens who want to live alone but taken care of in case of an emergency. The home-based user is the large segment in the elderly care market in which companies are catering, and a rise in demand is expected over a period of time.

North America to account for the largest market share from 2020 to 2025

North America account for the largest market for the medical alert systems during the forecast period. The major factors driving the medical alert system market growth include the increasing geriatric population across the world, rising healthcare expenditure, adoption of mobile personal emergency response systems (mPERS), financial assistance provided by the government for the elderly care, the inclination of senior citizens towards the independent living and the rising influence of disruptive technologies such as IoT and artificial intelligence (AI) in the healthcare sector. The developed countries like US and Canada have a robust healthcare system, faster reimbursement policies, and favorable healthcare regulations that are conducive to the development of the home healthcare sector and is the major factor in driving the market in the North American region. Some of the major players in this region are Philips Life Line (US), Connect America, and ADT Corporation.

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Key Market Players

The major players in medical alert systems market are Koninklijke Philips (Netherlands), Connect America (US), Valued Relationships (VRI) (US), Guardian Alarm (US), Alertone Services (US), ADT Corporation (US), LifeFone (US), Bay Alarm (US), Medical Guardian (US), MobileHelp (US), Nortek Security and Control (Numera) (US), Galaxy Medical Alert Systems (Canada), Response Now (US), LifeStation (US), Rescue Alert (US), Better Alerts (US), GreatCall (US), Electronic Caregiver (US), Blue Linea (France),  Vanguard Wireless (Australia), and Tango Technologies (US).

What are the drivers and opportunities for the automated optical inspection (AOI) system market?

The global automated optical inspection system market size is estimated to be valued at USD 753 million in 2020 and projected to reach USD 1,583 million by 2025, growing at a CAGR of 16.0% during the forecast period.

Major factors fuelling 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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The market for 3D AOI systems to grow at higher CAGR from 2020—2025

3D AOI systems can detect faults in PCB substrates as well as defects in the ball grid arrays (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.

Automotive industry to exhibit the highest growth in automated optical inspection (AOI) system market during the forecast period

The demand for high-performance electronic components for critical-safety systems of a vehicle such as advanced driver assistance system (ADAS), airbags, and braking systems has increased the use of electronics in automobiles. Moreover, the implementation of wireless communication technologies such as M2M and connected vehicles has resulted in a rise of electronics components in automobiles. The use of high-quality electronics has made automotive manufacturers use highly efficient AOI systems to inspect electronics components during the production process.

Automated Optical Inspection (AOI) system market in North America to grow at the highest CAGR during the forecast period

North America is expected to grow at the highest CAGR in the automated optical inspection (AOI) system market during the forecast period. The presence of a tech-savvy population with high disposable income and a huge demand for consumer electronics is leading to advancements in PCBs, which further fuel the automated optical inspection (AOI) system market in North America.

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Key Market Players

Koh Young (South Korea), Test Research, Inc. (Taiwan), Omron (Japan), Viscom (Germany), and Saki (Japan) were the major players in the global automated optical inspection (AOI) system market.

Which are the major driving factors and opportunities in the situational awareness market?

The Situational Awareness Market is projected to reach USD 21.8 billion by 2025 from an estimated USD 17.2 billion in 2020, at a CAGR of 4.9% from 2020 to 2025.

Growing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and the increasing importance of situational awareness in cyber security to provide significant situational awareness are the major factors driving the growth of the situational awareness market. Rising digitization in infrastructure to provide significant opportunities for situational awareness, the significance of situational awareness in the energy sector to provide opportunities, and the implementation of situational awareness in space projects are expected to provide growth opportunities to the situational awareness market.

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By product, RFID solutions of the situational awareness market are projected to register the highest CAGR between 2020 and 2025

Radio frequency identification (RFID) solutions have given a new dimension to the tracking and tracing of goods by offering easy and cost-effective solutions to control theft and counterfeiting, and increase the efficiency of situational awareness solutions across all applications, which would further propel market growth.

By industry, the military & defense segment is expected to witness the highest CAGR during the forecast period

Situational awareness plays a key role in the military and defense industry for improved safety and security. The increased need for safety and security, as well as space situational awareness, is expected to drive the situational awareness market for the military and defense industry.

Among applications, the security and surveillance segment is projected to grow at the highest rate during the forecast period

Situational awareness for security & surveillance is important for homeland security, cyber security, maritime security, and network security. With increased terrorism, organized crime, hijacking, hostage-taking, refugee smuggling, narcotics trading, illegal underwater activities, the situational awareness market for security and surveillance is also expected to grow.

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By region, Asia Pacific is estimated to grow at the highest rate during the forecast period

This growth in the situational awareness market in APAC can be attributed to the increasing demand for situational awareness systems in the military & defense sector in this region. Situational awareness systems are used for safety and security purposes in the military, aviation, homeland security, cyber security, and industrial sectors

General Electric (US), Lockheed Martin (US), Honeywell (US), DENSO (Japan), BAE Systems (UK), UTC (US), Microsoft (US), Barco (Belgium), AMD (US), L3Harris Technologies (US), General Dynamics (US), Xilinx (US), Qualcomm (US), Robert Bosch (Germany), Pleora Technologies (Canada), Nexvision (France), Bertin Instruments (France), Axis Communications (Sweden), Johnson Controls (Ireland), Boeing (US), Airbus (France), and Sensara (US) are some of the key players in the situational awareness market.

Which industry holds the maximum share of the plant asset management market?

The Plant Asset Management Market is projected to grow from USD 5.5 billion in 2019 to USD 9.4 billion by 2024, at a CAGR of 11.3%. Major factors fueling the market growth include surging adoption of lean manufacturing practices by several organizations, increasing focus on providing cloud-based PAM solutions to satisfy customer demands, escalating demand for asset management software that can identify potential failures to avoid futuristic loss, and growing need for real-time data analytics.

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Services to lead plant asset management market by 2024

The deployment of PAM software is a costly process and a one-time activity, whereas PAM services that include maintenance needs, software upgrades, and personnel training are demanded by end-user industries continuously. Hence, PAM services have a more significant contribution to generating more revenue than PAM software solutions. Further, market players are focusing on offering industry-specific services to meet the ever-changing demands of different industries.

Production assets to hold largest share of PAM market during forecast period

Rising adoption of PAM solutions for monitoring rotating and reciprocating equipment, among others, across various industries is expected to drive the growth of the PAM market during the forecast period. Moreover, incidents of unplanned shutdowns or slowdowns due to equipment failures lead to high financial loss in terms of damage to equipment, production losses, and unscheduled maintenance. However, real-time health and performance insights encourage informed actions and decisions to improve plant efficiency minimizing risks of equipment failure, thereby reducing the wastage of valuable finances. Hence, the demand for PAM solutions is high to manage these production assets.

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Asia Pacific to be largest market for PAM during forecast period

Asia Pacific presents a substantial market for PAM. The PAM market in APAC is growing rapidly due to several advancements and technological innovations in different manufacturing industries. The adoption of PAM solutions is high in APAC due to the growing manufacturing sector in the region. Most of the key manufacturers from different industries have shifted their manufacturing plants in APAC due to the low labor cost and availability of a skilled workforce. These manufacturing units are using asset management solutions for the improvement in the overall manufacturing processes, which is expected to drive the growth of the PAM market in the region.

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Major players in the PAM market are Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), Yokogawa (Japan), General Electric (US), Siemens (Germany), and SKF Group (Sweden).

HVAC Controls Market to grow at the highest CAGR by 2023

According to the new market research report "HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2023", published by MarketsandMarkets™ , the market was valued at USD 13.63 Billion in 2018 and is expected to reach USD 27.04 Billion by 2023, at a CAGR of 12.1% between 2018 and 2023.

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Factors that support the growth of the market are the need for efficient use of energy in buildings, growing construction market, increasing adoption of IoT in the HVAC industry, and rising demand for building automation systems (BASs).

Temperature control system to hold the largest size of the HVAC controls market throughout the forecast period 

The temperature control system consists of sensors, controllers, and HVAC equipment. The prime example of a temperature control system is a thermostat. Thermostat constantly measures the temperature of the area and, thus, controls the operation of heater or cooler to maintain the user-defined temperature. The major concern is maintaining energy efficiency, and the efficiency can be achieved by turning off the HVAC equipment periodically to save energy.

Commercial application held a major share of the HVAC controls market in 2017 

Commercial application held a major share of the HVAC controls market in 2017. The rise in the adoption of smart buildings and green buildings increases the use of smart sensors and HVAC controls such as programmable thermostat, which would save a lot of energy in commercial buildings. The application of HVAC controls in commercial buildings ensures switching on or off the HVAC equipment in a particular area, which is not currently occupied. The Federal Energy Policy Act of 2005 set in the US provides tax credit to owners of new or existing commercial buildings on the implementation of heating, cooling, ventilation, or hot water systems, which help in reducing the overall energy consumption of the buildings.

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New construction to hold the largest size of the HVAC controls market during the forecast period 

Growing urbanization, economic growth, and rising disposable income in Asia, the Middle East, and Africa are fueling the growth of the HVAC controls market for new construction. Governments of various countries are investing in the infrastructure development, which complies with environmental standards. Along with the need for infrastructural development, governments have also realized the need to curb the adverse effects of construction activities on the environment.

HVAC controls market in APAC to grow at the highest CAGR between 2018 and 2023 

China, Japan, and India are the major consumers of HVAC controls. Governments of these countries have taken active measures for increasing the adoption of HVAC controls. For example, the Ministry of Housing and Urban Affairs, Government of India, has adopted a smart city mission, which focuses on developing the cities to make them energy-efficient and sustainable along with improving the quality of living in these cities. Owing to the increasing population and depleting resources, the development of smart cities plays a major role for future sustainability in terms of energy. Furthermore, Japan is following strict regulation in terms of improving energy conservation. From 2012, it has launched some policies related to buildings that comprise the promotion of the use of higher efficiency products in construction of houses and buildings. It also follows energy efficiency standards for all type of buildings, including new and retrofits.

Major players operating in the HVAC controls market are Honeywell (US), Johnson Controls (US), Siemens (Germany), Schneider Electric (France), Emerson (US), Delta Controls (Canada), Ingersoll-Rand (Ireland), United Technologies (US), Lennox (US), and Distech Controls (Canada).