Opportunity for Silicon on Insulator Market Growth in the Next Five Years with Covid-19 Impact Analysis

According to the new market research report on the "Silicon on Insulator (SOI) Market by Wafer Size (200 mm and less than 200 mm, 300 mm), Wafer Type (RF-SOI, FD-SOI), Technology (Smart Cut, Layer Transfer), Product (RF FEM, MEMS), Application (Consumer Electronics, Automotive) - Global Forecast to 2025", published by MarketsandMarkets™, the global Silicon On Insulator (SOI) Market size is projected to grow from USD 1.0 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 15.7% from 2020 to 2025. The improved performance offered and low operating voltage required by SOI wafers, growing use of SOI wafers in consumer electronics, and increase in investments by wafer manufacturers and foundry players in the SOI ecosystem are factors driving the growth of the SOI market across the globe.

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The RF-SOI wafer type segment led the SOI market in 2019

The RF-SOI wafer type segment accounted for the largest share of the SOI market in 2019. The growth of this segment can be attributed to the wide acceptance of RF-SOI in advanced Long-term Evolution (LTE) smartphones. Almost all smartphones use RF-SOI wafers in their RF Front-end Modules (FEMs) and antenna switches. Leading players offering RF-SOI include Soitec (France), Shin-Etsu Chemical (Japan), GlobalWafers Co., Ltd. (Taiwan), and Simgui (China).

Moreover, foundry players are also launching new wafers based on RF-SOI in the market. For instance, in September 2018, GlobalFoundries (US) started the production of its mobile-optimized 8SW 300 mm based on the RF-SOI technology platform. 300 mm RF-SOI is used in FEM applications, including 5G, IoT, and wireless communication.

The smart cut technology segment is estimated to account for the largest share of the SOI market in 2020

The smart cut technology segment is expected to lead the SOI market during the forecast period. Smart cut technology is a proprietary technology of Soitec (France) and is used for wafer bonding and layer splitting. Soitec offers this technology to most of its wafer manufacturing partners, including Shin-Etsu Chemical Co., Ltd. (Japan), and Simgui (China). Smart cut technology enables wafer manufacturers to transfer a thin layer of crystalline material from one substrate to another. Moreover, this technology is more flexible as compared to other technologies. It offers high uniformity and excellent bonding interface in wafers and controls their thickness variability.

Browse in-depth TOC on "Silicon on Insulator Market"

130 – Tables 

66 – Figures 

192  – Pages

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Europe is estimated to account for the largest share of the SOI market in 2020

Europe is expected to lead the SOI market in 2020. The market in Europe is projected to experience increased traction during the forecast period due to the presence of several leading players such as Soitec (France) and STMicroelectronics N.V. (Switzerland) in this region. Moreover, it is also a hub for automotive players. Ongoing technological advancements in its automotive sector are expected to increase the demand for SOI wafer-based products in the region, thereby fueling the growth of the SOI market in Europe.

Soitec (France), Shin-Etsu Chemical Co., Ltd (Japan), GlobalWafers Co., Ltd. (Taiwan), SUMCO (Japan), Simgui (China), GlobalFoundries (US), STMicroelectronics N.V. (Switzerland), TowerJazz (Israel), NXP Semiconductors N.V. (Netherlands), Murata Manufacturing (Japan), Skyworks Solutions (US), Qorvo (US), Sony Corporation (Japan), MagnaChip Semiconductor (South Korea), United Microelectronics Corporation (Taiwan), Taiwan Semiconductor Manufacturing Company (Taiwan), Qualcomm Technologies, Inc. (US), Silicon Valley Microelectronics (SVM), Inc. (US), EV Group (US), Ultrasil LLC (US), Siltronix Silicon Technologies (France), and WaferPro (US) are some of the major companies operating in the SOI market.

Significant Demand for Explosion Proof Equipment Market in the Coming Years with Covid-19 Impact Analysis

The explosion proof equipment market size is projected to grow from USD 7.4 billion in 2020 to USD 9.9 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. Factors such as the increasing industrial safety measures and rising energy requirements are driving the explosion proof equipment industry.

The explosion proof equipment market for wireless connectivity services is expected to grow at a higher rate during the forecast period

The market for wireless connectivity services is projected to grow at a high growth rate during the forecast period. The growth of the segment can be attributed to its lower installation cost, requirement for cable-free operations, and reduction in space occupied and weight. Wireless devices can minimize the number of devices installed, such as cabling and other installation equipment leading to low installation expenditure and low labour costs.

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The cable glands & accessories segment held the largest share of the explosion proof equipment market in 2019

The cable glands & accessories segment held the largest share of the market in 2019. Cable glands and accessories are increasingly used for mechanical retention, strain relief, and earth continuity.

The explosion proof equipment market in RoW is projected to grow at the highest CAGR during the forecast period

The Rest of the World is expected to grow at the highest CAGR during the forecast period, due to the presence of the world’s largest oil & gas production, mining, and energy & power industries, which are highly prone to explosions in the region. The rising demand for protection in the oil & gas industry led the manufacturers to certify their products for use in explosive atmospheres.

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Key Market Players

The major players in the explosion proof equipment market are Siemens (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), and Eaton Corporation Plc (Ireland).

Major Key Trends in Top Display Technologies and Devices Market

According to the new market research report "Top Display Technologies and Devices Market (LED, OLED, Virtual Retinal, Quantum Dot, Flexible Display, Interactive Display, 3D Display and Screenless Display) - Global Forecast to 2022", the market is expected to grow at a significant CAGR between 2016 and 2022. The rapid technological advancements in the field of displays along with the new technologies and devices such as virtual retinal displays, quantum dots, and flexible displays are driving the growth of the top display technologies and devices market.

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OLED technology likely to hold the largest market share during the forecast period in the top display technologies and devices market

The OLED market is currently in its growth stage and expected to mature in terms of technology owing to the focus on product design and lifetime optimization. OLED displays cater to consumer electronics products such as smartphones, MP3 players, wearable devices, televisions and, tablets, among others. The OLED lighting market comprises various applications of lighting in various sectors such as architectural, commercial, residential, and automotive, among others. Currently, the OLED market is undergoing massive changes with the introduction of flexible displays and flexible lighting. The adoption of OLED technology in smartphones, rapid technological advancements, government support for OLED lighting research, and increased use of the technology in diverse applications are the major factors driving the market for top display technologies and devices.

Screenless display expected to grow at the highest CAGR between 2016 and 2022 for the top display technologies and devices market

The market for screenless display is expected to grow at the highest rate in the top display devices market. The space constraint and portability of screenless displays and the adoption of smart solutions over the traditional displays are the major drivers fueling the growth of the screenless displays in the coming years. Screenless display is an emerging technology which would display information without the need for actual screens. Companies such as Google, Inc. (U.S.), Displair, Inc. (Russia), Avegant Corporation (U.S.), Microsoft Corporation (U.S.), and so on are developing technologies that would be a game changer in the field of screenless displays.

Quantum dot display expected to grow at a significant CAGR during the forecast period

The market for quantum dot displays is expected to grow at a significant rate during the forecast period. The quantum dot technology is growing very rapidly and many diverse opportunities are coming up. Medical devices based on this technology are finding applications in therapy and medical diagnosis. LED with QD luminophores is a promising development in next-generation displays as quantum dot luminophores exhibit high quantum yields, extremely narrow emission, spectral tenability, and high stability, among other beneficial characteristics. Quantum dots offer benefits such as low energy consumption, low cost, and more vibrant colors, which are required in consumer applications.

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The key manufacturers of top display technologies and devices include LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Innolux Corporation (Taiwan), AU Optronics (Taiwan), Avegant Corporation (U.S.), Microvision, Inc. (U.S.), Human Interface Technology Laboratory (U.S.), QD Vision, Inc. (U.S.), Universal Display Corporation (U.S.), Google, Inc. (U.S.) and Panasonic Corporation (Japan), among others.

Induction Motor Market Shows Double-Digit Growth

According to a new market research report "Induction Motor Market by Type (Single Phase, Three Phase), Application (Residential, Industrial, Commercial), Geography (North America, Europe, Asia-Pacific, Row) - Analysis and Forecasts to 2019", the overall induction motor market shows double-digit growth and is expected to reach $15,810.3 Million by 2019, at a CAGR of 12.4% from 2014 to 2019.

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The induction motor market is expected to exhibit high growth during the forecast period from 2014 to 2019. The driving factor for the growth of induction motor market is its simple and rugged physical structure. Induction motors are robust and can operate in any environmental condition. Due to the absence of brushes and slip rings (which can cause sparks), they are safe to operate in polluted and explosive working conditions. And, unlike synchronous motors, induction motors do not require starting mechanisms as they have a self-starting torque. This leads to their reliability, cost effective operation, and easy maintenance. Hence, induction motors are preferred over synchronous motors.

However, major restraint for growth of the induction motor market is the difficulty in the speed control of induction motors. For fine speed control applications, DC motors are preferred over induction motors. Due to advanced power electronics, variable frequency drives using induction motors are used in industries for speed control at present.

This report provides a detailed analysis of the overall induction motor market and segments the market on the basis of type, application, and geography. By type, the induction motor is divided into single phase induction motor & three phase induction motor. While the application includes industrial, commercial and residential, the geographic segmentation of the market covers North America, Europe, Asia-Pacific, and RoW (Rest of the world).

The objective of the research study is to analyze the market trends for each of the industries, growth rates of the various applications such as industrial, commercial, and residential, and the demand comparison for the types of induction motor market such as single phase and three phase induction motor during forecast period. The three phase induction motor is further segmented into squirrel cage induction motor and slip ring induction motor in this report.

Apart from the market segmentation, the report also covers the Porter’s five forces analysis, the market’s value chain with a detailed process flow diagram, and the market dynamics such as drivers, restraints, and opportunities in the overall induction motor market.

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The major players offering various products in the induction motor market include Nidec Motor Corporation (U.S.), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), and Emerson Electric Co. (U.S.). The key players in the market focus on expanding their market base in the concerned market by adopting strategies such as new product development, alliances, and acquisitions.

Display Controller Market is Expected to Grow USD 32.24 Billion by 2022

According to the new market research report "Display Controller Market by Type (LCD Controller, Touchscreen Controller, Multi Display, Smart Display, Graphic LCD Controller), Application (Industrial Control, Medical Equipment, Automotive, Mobile Communication), and Geography - Global Forecast to 2022", the market is expected to grow from USD 17.26 Billion in 2015 to reach USD 32.24 Billion by 2022, at a CAGR of 9.68% between 2016 and 2022.

The growth of this market is mainly driven by the high demand for mobile communication devices with advanced displays, increasing need for more sophisticated display controllers in teleconferencing applications, growing adoption of interactive displays in the retail sector for enhanced customer experience, and changing role of display controllers from generic devices to more holistic system controllers.

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LCD controllers held for the largest size of the display controller market in 2015

The display controller market is led by LCD controllers. The major reasons of the growth of the market for LCD controllers include the wide adoption of LCD technology in displays in the consumer electronics, home appliances, industrial control, office automation, and automotive sectors. The high demand for LCD controllers for mobile communication devices is one of the key factors driving the growth of the display controller market. LCD controllers are widely used in computers, mobile phones, digital video cameras, personal navigation devices, and other consumer electronics products.

The market for automotive applications likely to grow at the highest rate during the forecast period

Automotive applications are expected to grow at the highest rate in the coming years. Display controllers enhance the information displaying capabilities in automotive applications such as instrument cluster displays, infotainment and navigation systems, head-up displays, and center displays. An increasing number of vehicles are now equipped with advanced infotainment systems, comprising TFT displays as well as touchscreens. This rising demand for these systems is also contributing to the growth of the display controller market for automotive applications.

North America held the largest market size in 2015

North America held the largest size of the display controller market in 2015, followed by Europe and APAC. The U.S. is the largest contributor to the growth of the display systems in North America. The adoption of LCD and graphic controllers is high in several industrial and domestic applications, including industrial control, office automation, medical equipment, home appliances, and mobile communication devices in this region.

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The major players operating in the display controller market include Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Texas Instruments, Inc. (U.S.), Toshiba Corporation (Japan), Novatek Microelectronics Corporation (Taiwan), Intersil Corporation (U.S.), Fujitsu Limited (Japan), and Seiko Epson Corporation (Japan), among others.

Attractive Opportunities in the Silicon on Insulator Market

The global silicon on insulator market size is projected to grow from USD 1.0 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 15.7% from 2020 to 2025. Effective use of silicon during the manufacturing of thin SOI wafers and low operating voltage and high performance of SOI-based devices are some of the factors expected to contribute to the growth of the SOI market across the globe. The flourishing Integrated Circuit (IC) industry, expanding SOI ecosystem in Asia Pacific, and increasing use of SOI in IoT applications act as growth opportunities for the SOI market. However, the floating body and self-heating effects in SOI-based devices act as challenges for the manufacturers of SOI wafers.

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The Radio Frequency Front-end Module (RF FEM) segment accounted for the largest share of the SOI market in 2019

Based on the product, the RF FEM segment accounted for the largest share of the SOI market in 2019. The growth of this segment can be attributed to the increased demand for RF FEM in upcoming 5G technology as well as consumer electronic devices such as smartphones, laptops, and tablets. Currently, all smartphones use RF chips comprising RF-SOI wafers. In the SOI ecosystem, wafer manufacturers and foundry players are also taking initiatives for the development of RF FEM products using SOI technology. For instance, GlobalFoundries (US) has developed advanced RF-SOI platforms that integrate low noise amplifiers, power amplifiers, RF switches, and phased-array antennas with RF FEM for advanced 4G LTE. The company is also focusing on improving the performance of its power amplifiers, low noise amplifiers, and RF switches to meet 5G FEM specifications with the help of advanced RF-SOI technology. These initiatives are expected to fuel the growth of the RF FEM segment of the market.

The automotive application segment of the SOI market is projected to grow at the highest CAGR during the forecast period

The automotive application segment is projected to grow at the highest CAGR between 2020 and 2025. This growth can be attributed to the increasing investments being made by automotive giants and other business leaders for the development of Advanced Driver-assistance Systems (ADAS) and driverless cars. For instance, Audi (Germany) is making efforts to integrate FD-SOI with devices or sensors used in its autonomous cars. These cars require high-speed, low-power, and compact electronic devices for their operations. This, in turn, leads to the increased demand for SOI-based wafers. Moreover, other products in autonomous cars that use FD-SOI wafers are infotainment systems, instrument clusters, Head-up Displays (HUDs), and e-cockpits.

The SOI market in APAC is projected to grow at the highest CAGR during the forecast period

The SOI market in APAC is projected to grow at the highest CAGR from 2020 to 2025. Increased investments by wafer manufacturers and foundry players are influencing the growth of the SOI market in this region. For instance, in March 2018, Shin-Etsu Chemical Co., Ltd (Japan) carried out around USD 996 million facility investments for its silicone business. These investments are aimed at enabling the company to expand its business in APAC. Moreover, in June 2018, TowerJazz (Israel) announced the expansion of the RF-SOI 65 nm process in its 300 mm Uozu, Japan fab.

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Key Market Players

Soitec (France), Shin-Etsu Chemical Co., Ltd (Japan), GlobalWafers Co., Ltd. (Taiwan), SUMCO (Japan), Simgui (China), GlobalFoundries (US), STMicroelectronics N.V. (Switzerland), TowerJazz (Israel), NXP Semiconductors N.V. (Netherlands), Murata Manufacturing (Japan), Skyworks Solutions (US), Qorvo (US), Sony Corporation (Japan), MagnaChip Semiconductor (South Korea), United Microelectronics Corporation (Taiwan), Taiwan Semiconductor Manufacturing Company (Taiwan), Qualcomm Technologies, Inc. (US), Silicon Valley Microelectronics (SVM), Inc. (US), EV Group (US), Ultrasil LLC (US), Siltronix Silicon Technologies (France), and WaferPro (US) are leading companies operating in the SOI market.

Use Cases and Connected Devices in the Consumer IoT Market

The consumer IoT market is estimated to reach USD 104.4 billion by 2023 from USD 46.8 billion by 2018, at a CAGR of 17.39% during 2018–2023.

A few of the major driving factors for the growth of this market include the growing number of internet users and adoption of smart devices, increasing awareness about fitness and rise in disposable incomes in developing economies, and consumer preference for increased convenience and better lifestyle.

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Consumer IoT Market for solutions to grow at fastest CAGR during forecast period

The consumer IoT market for solutions is expected to grow at the highest CAGR during 2018–2023. The solution segment consists of software and platform. With the increase in the number of connected devices, the volume of data is also proliferating. These huge data volumes are driving the market for data management software. By implementing the IoT data management software, businesses are aiming to get a competitive edge with predictive analytics, as well as optimize their business operations. Moreover, the high number of interconnected devices controlling physical infrastructure and increased connectivity, which makes these devices and their networks more vulnerable to cyberattacks, is leading to the surge in demand for highly sophisticated security solutions in the IoT market.

Home automation to hold largest share of consumer IoT market by 2023

Home automation is expected to hold the largest share of the consumer IoT market by 2023. The increasing demand for home monitoring in remote locations as well as the growing adoption of home automation devices in applications such as security, and HVAC and energy management, among others, have been the key factors driving the growth of the consumer IoT market for home automation. Further, the rising demand among customers for better and convenient lifestyles, and increased internet penetration in smart devices also contribute to the market growth.

North America to account for largest market size during forecast period

North America is the major revenue generating region in the consumer IoT market. The increasing demand for smart devices from consumer electronics, wearable, and home automation applications have led to the growth of the consumer IoT market in this region. Moreover, the growth of the market in this region is also driven by the increasing health consciousness due to growing incidences of chronic diseases and number of diabetes patients, and ease of use of medical devices. The increasing adoptions of smart connected devices and rapid digitalization across various consumer end-use applications have further fuelled the growth of IoT in North America.

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Key Market Players

Qualcomm Incorporated (US), Texas Instruments Incorporated (US), NXP Semiconductors N.V. (Netherlands), Intel Corporation (US), STMicroelectronics N.V. (Switzerland), International Business Machines Corporation (IBM) (US), General Electric (GE) (US), Symantec Corporation (US), TE Connectivity Ltd. (Switzerland), Schneider Electric SE (France), Cisco Systems, Inc. (US), Amazon.com, Inc. (US), Apple Inc. (US), Alphabet Inc. (US), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Microsoft Corporation (US), AT&T Inc. (US), Honeywell International Inc. (US), and Hewlett Packard Enterprise Company (HPE) (US).

Upcoming Technological Trends in the Nanorobotics Market

The nanorobotics market for magnetically guided type is expected to grow at the highest CAGR during the forecast period. By type, the nanorobotics market has been segmented into nanomanipulator, bio-nanorobotics, magnetically guided, and bacteria-based. This is attributed to the ease of use of magnetically guided nanorobotics systems as compared with other nanorobotic types. The market for nanomanipulator is expected to account for the largest share of the overall nanorobotics market in 2018. In nanorobotics, nanomanipulators are mainly used to manipulate atoms and molecules and were among the first nanorobotic systems to be commercially available.

The nanorobotics market is expected to grow from USD 4.9 billion in 2018 to USD 8.3 billion by 2023, at a CAGR of 11.1%. Factors such as increasing government support and level of investment in nanorobotics, growing advancements in molecular robots, and rising focus on nanotechnology and regenerative medicine are driving the growth of the nanorobotics market.

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By application, the nanorobotics market has been segmented into nanomedicine, biomedical, mechanical, and others, which include space and oil and gas. Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. Nanomedicine is expected to account for the largest share of the overall nanorobotics market, by application, in 2018.

The large share of this application attributes to the large level of commercialization in the healthcare sector for drug delivery, biomaterial, in vivo imaging, in vitro diagnostic, active implants, and drug therapy. The market for mechanical applications is expected to grow at the highest CAGR during 2018–2023. Mechanical nanorobotics system, an advanced step of nanotechnology, is flexible enough to be manipulated in various ways. Also, mechanical nanorobots can be built on any type of nanorobotics systems, such as bio-nanorobotics, magnetically guided, and bacteria-based.

By region, the nanorobotics market has been classified into the Americas, Europe, APAC, and RoW. The market in Europe is expected to grow at the highest CAGR during the forecast period. The high growth of the market in this region can be attributed to the increasing aging population and rising governmental healthcare expenditure in Europe.

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Also, Europe was among the earliest regions to recognize the potential of nanorobotics; therefore, a high level of public and private funding contributes to the high growth of nanorobotics in Europe. The market in Europe is closely followed by APAC, in terms of CAGR, thereby making it grow at the second-highest rate in the overall nanorobotics market, by region. The players in all the regions are adopting strategies of product launches, acquisitions, expansions, agreements, collaborations, and joint ventures to expand their global presence and increase their share in the nanorobotics market.

Key Developments in Public Safety LTE Market

The public safety LTE market is projected to grow from USD 4.7 billion by 2019 to USD 11.7 billion by 2024; it is expected to grow at a CAGR of 20.2% from 2019 to 2024. Elimination of connectivity issues between networks and increase in demand for unmanned operations and remote surveillance are among the factors fueling the growth of the PS-LTE market globally. High speed and seamless connectivity offered by LTE technology is expected to further supplement the growth of the public safety LTE market.

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E-UTRAN segment to hold the largest size of the public safety LTE market for infrastructure from 2019 to 2024

E-UTRAN is the air interface of LTE technology. It uses orthogonal frequency division multiple access (OFDMA) for downlink and single-carrier frequency divisional multiple access (SC-FDMA) for uplink, along with multiple in multiple out (MIMO) up to four antennas per station. The growth of the E-UTRAN segment of the PS-LTE market for infrastructure can be attributed to new public safety projects being undertaken in Europe, especially in the UK, Finland, and France and in Asian countries such as South Korea and Japan.

Utilities segment of public safety LTE market projected to grow at the highest CAGR during the forecast period

In the utilities vertical, PS-LTE channels are widely used to notify emergencies. Moreover, emergency medical services and firefighting services are also being publicly or privately deployed to ensure the safety of the masses. This vertical uses audio and video surveillance systems for securing people and assets.

Law enforcement & border control segment is expected to grow at the highest rate from 2019 to 2024

Law enforcement & border control agencies include police and military forces. The use of broadband for public safety enables law enforcement & border control agencies to access relevant information, stream videos, and collaborate with control rooms in real-time. Public safety-LTE, which integrates voice communication and data transfer abilities with robust purpose-built systems, devices, and control centers, helps police, military, and other security forces to work safely and smartly by assisting them in improving their real-time decision-making capabilities.

Europe projected to account for the largest size of the public safety LTE market from 2019 to 2024

The growing requirement for strong security measures and compliance management in Europe owing to increase in online public safety applications to carry out video surveillance activities and rise in image and video sharing, as well as an increase in the demand for unmanned vehicles, have made the region a highly lucrative market for vendors of public safety solutions. Several agencies such as the European Union Agency for Network and Information Security (ENISA), the European Computer Emergency Response Team (CERT-EU), and the Network & Information Security (NIS) have been formed in Europe to increase their involvement in the development of public safety networks for the private sector.

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Key market players

The major companies in the public safety LTE market are Motorola Solutions, Inc. (US), General Dynamics Corporation (US), Airbus SE (Netherlands), Nokia (Finland), Harris Corporation (US), Huawei Technologies Co. Ltd. (China), Bittium Corporation (Finland), Samsung Electronics Co. Ltd. (South Korea), AT&T, Inc. (US), ZTE Corporation (China), Hytera Communications Corporation (China), and KT Corporation (South Korea).

Explosion Proof Equipment Market – Forecast to 2025 With Covid-19 Impact Analysis

The global explosion proof equipment market size is projected to grow from USD 7.4billion in 2020 to USD 9.9billion by 2025, at a CAGR of 5.9% from 2020 to 2025. Factorssuch as the increasing industrial safety measures and rising Energy Requirements are expected to fuel the growth of the explosion proof equipment industry.

The major players in the explosion proof equipmentmarket are Siemens (Germany), Honeywell International, Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), and Eaton Corporation Plc (Ireland).

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By product type, the cable glands & accessories segment holds the largestshare of the explosion proof equipment market.Cable glands & accessories are increasingly being used for mechanical retention, strain relief, and earth continuity. Cable glands come with different protection types, such as inner and outer sheath seal with armor clamp for steel wire, steel tape, screened or braided cables, and lead sheathed cables. The pioneers in manufacturing cable glands and related accessories for explosion proof equipment include Eaton Corporation Plc (Ireland), Hawke International (UK), and Emerson Electric Co. (US).

Based on connectivity service, the wireless connectivity services segment is projected to grow at a higher growth rate as compared to the wired connectivity services segment during the forecast period.

The growth of the wireless services segment can be attributed to its lower installation cost, the requirement for cable-free operations, and reduction in space occupied and weight. Wireless devices can minimize the number of devices installed, such as cabling and other installation equipment leading to low installation expenditure and low labor costs.

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For example,the wireless fire alarm system is an effective alternative to traditional wired fire alarm systems across end-use industries, ranging from oil & gas to mining and pulp & paper. They make use of secure, license-free radio communications to interconnect the sensors and devices such as detectors and call points with controllers.

Insights on New and Upcoming Applications of Occupancy Sensors

The occupancy sensor market is projected to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024, at a CAGR of 12.3% from 2019 to 2024. The growth of the occupancy sensor market is driven by factors such as increasing need for energy-efficient lighting controls and the growing popularity of smart homes. On the other hand, the rising trend of green buildings across the world is among the major factors that are likely to create growth opportunities for the market.

The passive infrared-based occupancy sensors accounted for the largest share of occupancy sensor market in 2018. These sensors are affordable and consume lower power than the other two technologies, which makes more it suitable for wireless network connectivity.

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The occupancy sensor market for 180–360° coverage area is expected to account for the highest share during the forecast period. There is a strong demand for higher coverage area occupancy sensors as a single occupancy sensor can be installed in large rooms such as large office floors, conference rooms, and classrooms, whereas 89° and 90–179° coverage area-based sensors are used mostly in smaller spaces due to their limited field of view.

The occupancy sensor market for residential building type is expected to grow at the highest CAGR during the forecast period. In the current market scenario, most house owners prefer their residences to be installed with the latest technologies, which also help them manage energy usage and minimize the cost. Moreover, growing awareness regarding home automation and smart homes among occupants are expected to drive the occupancy sensor market for residential buildings.

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North America led the global occupancy sensors market in 2019. The demand for occupancy sensors in North America for commercial and residential buildings is more than other geographies. This demand is attributed to the value chain for the occupancy sensors market being well-organized and well-managed in the region. The US continues to remain the largest market for occupancy sensors across the region. The occupancy sensor market in the US is primarily driven by supportive government plans and the presence of key players in the country, along with their offerings.

Attractive Opportunities in Network Attached Storage Market

The global network attached storage market is projected to grow from USD 23.2 billion in 2020 to USD 48.0 billion by 2025 at a CAGR of 15.7%. One of the factors fueling the growth of this market is the increased use of smartphones, laptops, and tablets, resulting in the generation of large volumes of data.

Network attached storage is a dedicated storage device with multiple racks of storage media and is set up onto a dedicated network for storing the data. NAS devices are connected directly to the network and can give data access to multiple authorized users at the same time. These are highly reliable, scalable, and cost-effective data storage solutions available to various end-user industries in the market.

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In 2019, 1-bay to 8-bay NAS solutions accounted for the largest market share and a similar trend is expected to be observed during the forecast period. 1-bay to 8-bay NAS systems are in demand from various end users, such as education and research centers, business and consulting firms, small and medium-sized businesses, and media and entertainment companies.

Based on product, midmarket NAS solutions are likely to continue to dominate the market during the forecast period. The growing demand for midmarket NAS solutions from home offices, as well as small and mid-sized offices and risinguse of smart devices such as smartphones, wearables, and gaming systems are the key reasons for the growing demand for midmarket NAS solutions.

In 2019, the scale-up NAS segment held a majority of the NAS market. The growth of this segment can be attributed to the surge in the deployment of scale-up NAS systems in homes, educational institutions, small and medium-sized offices,and hotels, wherein a moderate volume of data is generated, and the only requirement is to store this data.

In 2019, the on-premises segment held the largest share of the NAS market. This deployment is generallyfavoredby end-usersas it offers high security and control over data management to its users. Moreover, this model utilizes in-house hardware and software, which ensures the safety, privacy, and security of stored data.

Based on end-user industry, the BFSI segment held the largest share of the NAS market in 2019. The growth of this segment can be attributed to the rising government initiatives to implementdigital practices in business; increasingawareness among people about employing various smart banking tools,such as internet banking, mobile banking, automated teller machines (ATMs) and debit cards, and online payments through multiple apps including GooglePay, PhonePe, Paytm, WeChat, and Zeta, as well as rapidly changing human lifestyle.

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In 2019, North America accounted for the largest share of the network attached storage market. The growth of the NAS market in North America can be attributed to the fact that the region is home to leading producers such as Dell Technologies Inc., NetApp, Inc., and HEWLETT PACKARD ENTERPRISE COMPANY (HPE), as well as majorconsumerssuch as Syracuse University, UNICOM Global, Tufts University, and Linn Benton Lincoln of NAS solutions. Moreover, North America, being the early adopter of advanced data storage technologies, it captures the largest share of the NAS market, followed by Europe and APAC.