Future Growth of the Sensor Hub Market

The sensor hub market is expected to reach USD 32.53 Billion by 2023, at a CAGR of 18.9% between 2017 and 2023. The growth of this market is propelled by the steady growth in the number of integrated sensors in smartphones, the need for a low-power solution, and the use of sensor fusion in devices.

The discrete sensor processor dominated the sensor hub market in 2016. This dominance is attributed to the use of discrete sensor processor hubs in wearable devices as well as the higher power saving advantages offered by this processor type. The application sensor processor is expected to hold the largest size of the sensor hub market during the forecast period as it is being deployed by a large number of smartphone manufacturers such as Apple, Inc. (US).

The consumer electronics end-use application is the largest market for sensor hubs. This growth is attributed to the extensive use of sensor hubs in smartphones, tablets, smart TVs, wearables, and gaming consoles. All these devices use sensors for different activities such as gesture recognition, image stabilization, navigation, motion-based gaming, and health monitoring.

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North America dominated the overall sensor hub market in 2016. Owing to the rising awareness for driver's safety and influence of regulations and safety ratings for original equipment manufacturers (OEMs), the system such as advanced driver-assistance systems (ADAS) is highly adopted by automobile manufacturers, thereby driving the growth of the sensor hub market in this region. The US is an important market in North America that provides sensor hub solutions to OEMs of consumer electronics and automobiles. North America is an important hub for consumer electronics products, especially for smartphones and wearable devices, which prominently use the sensor hub technology. This region has the highest number of end users for healthcare wearable devices.

Technical complexity in sensor hub deployment is one of the major challenges witnessed by the sensor hub market. There is a need for advanced technical expertise for the effective deployment of sensor hubs in products. Thus, emphasis needs to be given on the ease of integration of sensors with microcontrollers as well as complete sensor hub systems for the growth of the sensor hub market.

Market players such as Microchip Technology, Inc. (US), Inc., NXP Semiconductors N.V. (Netherland), STMicroelectronics N.V.(Switzerland), Robert Bosch GmbH (Germany), and Intel Corp (US) are focusing on product launches and developments, mergers, acquisitions, and collaborations to enhance their product offerings and expand their business.

Key Market Dynamics in the Soil Monitoring Systems

The soil monitoring market is estimated to be worth USD 370 million in 2020 and projected to reach USD 680 million by 2025, at a CAGR of 12.9%. Concerted efforts of governments and companies to promote sustainable agriculture practices, pressing need to preserve soil quality, stringent government regulations pertaining to ecological stability, and growing need for improving farm productivity to feed rising population are some of the driving factors for the soil monitoring market.

Ground-based monitoring systems were the most extensively used technology in the global soil monitoring market in 2019

Ground-based monitoring systems accounted for the largest share in the soil monitoring market in the year 2019. The high level of adoption of sensors and other soil monitoring devices has been on the rise among the progressive farmers across the globe. This is due to the several benefits provided by these sesors which enables th growers to provide site specific inputs to the crops. The ground-based monitoring systems is expected to get a further boost during the forecast period. The market for telematics and robotics is expected to grow at the highest rate during the period 2020-2025. The rising labor crisis in most of the countries and remote monitoring application could lead to a demand for the telematics and robotics in the soil monitoring market.

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Hardware offerings to hold larger market share during forecast period

The hardware offering are expected to hold the largest market share in the soil monitoring market during the forecast period. This is due to the increasing penetration of soil sensors, soil scanners, weather stations, and other devices for soil monitoring among the farmers. The resulting penetration could boost the soil monitoring market for hardware further to grow at a significant rate. The progressive farmers in various parts of the world has witnessed several benefits of soil monitoring which has increased the adoption of soil monitoring sensors and devices.

Americas held the largest market for the soil monitoring in 2019  and is expected to dominate during the forecast period

Americas held  the largest share in the soil monitoring market  in 2019 and could dominate the market during the forecast period. The presence of agri-tech companies such as The Toro Company, Campbell Scientific, Stevens  Water Monitoring Systems, etc. is the prominent reason for the large market share in the soil monitoring market. However the APAC region is expected to witness a high growth during the forecast period owing to the high degree of adoption of agriculture technology in the countries like Australia, New Zealand and Japan with emerging countries like India and China investing a huge amount in the digitization of agriculture sector.

The major players in the soil monitoring market are Stevens Water Monitoring Systems (US), SGS Group (Switzerland), METER Group (US), Element Materials Technology (UK), and The Toro Company (US).

Opportunities and Challenges in the Digital Twin Market

The global digital twin market size was valued at USD 3.1 billion in 2020 and is projected to reach USD 48.2 billion by 2026. It is expected to grow at a CAGR of 58% during the forecast period. Increasing demand for digital twins in the healthcare and pharmaceutical industries due to the outbreak of COVID-19 pandemic, the changing face of maintenance, and growing adoption of digital twin solutions to cope up with the COVID-19 pandemic are the key factors driving the growth of the digital twin market.

System digital twin to account for a larger share of the digital twin market by 2026

The market for system digital twin accounted for the largest market share in the 2019. This growth can be attributed to the increasing use of digital twin for systems in various applications. For example, in the aerospace & defense sector, the LOCOMACHS has implemented a digital twin for the entire assembly line for an aircraft wing for performance monitoring. In addition, in the automotive & transportation industry, Tesla Motors is using a digital twin solution for every car it manufactures for better performance 33 and business improvement.

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Automotive & Transportation accounted for the largest market share in 2019

Automotive & transportation industry accounted for the largest market share in the digital twin market in 2019. This growth can be attributed to the increasing usage of digital twins for designing, simulation, MRO (maintenance, repair, and overhaul), production, and after service. Automotive & transportation is one of the industries that will witness high growth in the post-COVID-19 period, as industry players will try to adopt digital solutions for their end-to-end operations to minimizes losses that have occurred due to the pandemic.

Predictive maintenance to account for the largest market share during the forecast period

The market for predictive maintenance application accounted for the largest share in 2019. The growth of the predictive maintenance application segment can be attributed to an increase in the use of digital twins for predictive maintenance in the post-COVID-19 period across various industries.

North America to hold the largest share in digital twin market during the forecast period

The North America holds the largest share in the digital twin market. In recent years, the development of various software and deployment of automation solutions in the manufacturing industries has improved production lines and downstream operations. These developments have positively impacted the growth of the market in North America due to the high economic growth and a large presence of vendors offering digital twins. Moreover, the increased R&D in the field of the IoT and IIoT and increasing demand for efficient and cost-effective technologies for product manufacturing are also supporting the regional market growth.

Digital Twin Market in APAC to witness higher CAGR during the forecast period

The market in APAC has been divided into India, China, Japan, and Rest of APAC. The market in APAC is expected to grow at the highest rate during the forecast period. China has a high potential for creating digital transformation in the manufacturing industries. The dense population, growing per capita income with large-scale industrialization and urbanization, and increasing adoption of IoT are the factors driving the growth of the digital twin market in the region. China’s rapid response to the pandemic allowed citizens to return to work (and normalcy) relatively faster as compared to other countries. One survey showed that almost half of the Chinese consumers expect the economy to rebound quickly and their routines to return to normal within the next 2 to 3 months. In APAC, other countries such as Japan, India, and South Korea are also affected severely, which has resulted in a significant downfall in the growth of the digital twin market in APAC. The market is expected to attain normalcy within a period of 1.5 to 2.5 years.

Key Market Players

General Electric (US), >IBM (US), >PTC (US), >Microsoft Corporation (US), >Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US)., are among the major players in the digital twin market.

Solid State Relay Market worth $1.5 billion by 2025

 According to the new market research report "Solid State Relay Market with COVID-19 Impact by Mounting Type (Panel, PCB), Output Voltage (AC, DC, AC/DC), Current Rating (Low, Medium, High), Application (Industrial Automation, Automotive & Transportation), and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the global Solid State Relay Market size is projected to grow from USD 1.1 billion in 2020 to USD 1.5 billion by 2025; it is expected to grow at a CAGR of 6.6% from 2020 to 2025. The key factors fueling the growth of this market include growing adoption of high-tech electronics and automation in consumer electronics industry, increase of overall revenue projection of the semiconductor industry despite the outbreak of COVID-19, increasing complexity in automobile circuits of electric vehicles, and robust features of solid state relays.

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Panel Mount accounted for larger size of the solid state relay market in 2020.

The increasing application of panel mount SSRs in the industrial automation and energy & infrastructure segments is expected to support the growth of the market during the forecast period. The panel mount SSR is the simplest form of SSR, which is also easy to assemble and change, if necessary. These features make it the primary choice for a majority of electrical equipment for switching and safety applications. Due to the COVID-19 pandemic, companies are finding it difficult to ensure the shipments of the solid state relays with panel mount since the demand for panel mounts is higher than other mounts and accounts for the largest percentage contribution to the market.

Automotive & transportation application is expected to hold the largest size of the solid state relay market in 2020.

The increasing demand for electric vehicles is supporting the growth of the solid state relay (SSR) market for automotive and transportation. Solid state relay offer superior solid state performance for high-power demanding applications and are also an ideal choice for automobiles as they offer variable load control. Automotive OEMs and players within the mobility industry are among the hardest hit due to the COVID-19 pandemic. The impact of COVID-19 on EVs will differ across regions. Post-COVID-19 crisis, the sale of EVs is expected to rebound strongly in China, keeping investment stable, and the projected increase in EV market share on track. The on going pandemic may negatively affect the growth of the solid state relays market for automotive and EV applications for the short term.

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APAC projected to be the largest market for solid state relay from 2020 to 2025.

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

COVID-19 Impact on the Global 5G Fixed Wireless Access Market

 The 5G fixed wireless access market was valued at USD 503million in 2020 and is expected to reach USD 86,669million by 2026, at a CAGR of 135.9% from 2020 to 2026.

Machine-to-machine (M2M) communication is the next-generation technology expected to drive automation across a majority of industrial verticals and connect multiple devices simultaneously. The key reasons for the increased adoption of new M2M technologies are to ensure improved connectivity for smooth communication among different machines and lower their power consumption. Rising demand for connected devices for long-range connectivity is expected to drive the growth of the market for M2M/IoT communication devices, such as smart meters, smart streetlights, livestock monitoring devices, and smart parking systems. The growth of M2M technology is expected to further fuel the adoption of connected devices (or IoT devices).

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Telemetry, telematics, connected devices, and other remote monitoring applications demand M2M connections to offer enhanced after-sales services and support. Businesses can also manage their assets and infrastructures efficiently through fleet management solutions or advanced metering infrastructures (AMIs). The benefits of remote monitoring have already been recognized in supervisory control and data acquisition (SCADA) and fleet management applications. Consumer electronics, automobile telematics, and point-of-sale (PoS) are relatively new use cases to 5G technology and are expected to witness increasing adoption of M2M technology-based solutions. Therefore, M2M applications require ubiquitous, interoperable communication technologies. Most existing communication network solutions have limitations in terms of coverages; hence, they are not the appropriate solutions for M2M applications. However, 5G, a next-level technology, is anticipated to offer intelligent and high-speed broadband features that ensure uninterrupted connectivity between machines and people, irrespective of their locations. Moreover, 5G is expected to offer low latency, thereby enabling M2M applications to transmit large volumes of data at a fast rate with a quick response. Thus, 5G is expected to provide the fundamental infrastructure required by connected devices at factories, offices, and homes for increased bandwidth at reduced costs.

Several telecommunication operators and government authorities have delayed the 5G rollout plans and spectrum auction. For instance, in India, the Department of Telecommunication (DoT) has postponed the 5G spectrum auction to 2021. In China, six big 5G projects, including an industrial internet project in the Guangdong province, a hospital-related project in the Jiangxi province, and a police-related project in the Gansu province, have been postponed since January 2020. This is expected to slow down the deployment of 5G infrastructure as forecasted previously. Currently, the demand for 5G is low; however, 5G has witnessed potential applications during the COVID-19 outbreak in China. The Chinese government is using 5G for diagnosis and telemedicine along with the implementation of AI and machine learning to control further spread of the outbreak. For instance, in Wuhan, the epicenter of the outbreak, Huawei Technologies has built a 5G network at the Wuhan Huoshenshan Hospital, which played a crucial role in treating the patients affected by COVID-19. The network included the installation of small cells as the hospital is in a remote area. Also, China is using 5G-enabled robots for telemedicine and control medical equipment in distant healthcare centers.

The supply chain members and government authorities are expected to work in collaboration to exploit the potential applications of 5G. This will accelerate 5G investment plans and generate significant demand for 5G equipment during 2020–2025.

Based on application, the residential segment is expected to account for the largest share in the 5G fixed wireless access marketby 2026. 5G fixed wireless is an ideal alternative mainly for residential customers as users can get gigabits of speeds at a competitive price, with no installation issues.

North America is expected to hold the largest share of the global 5G fixed wireless access market in the 2020. The US and Canada are expected to adopt 5G FWA solutions and services at a high rate. The proliferation of 5G networks in the region is increasing mainly due to the presence of key market players. For instance, Qualcomm Technologies (US), Mimosa Networks, Inc. (US), Cohere Technologies, Inc.(US), Cellular South, Inc.(C Spire) (US), TELUS Corporation (Canada), United States Cellular Corporation (US), AT&T Inc. (US), Verizon Communications Inc.(US), Cisco (US) are among a few major companies in the 5G market that are actively participating in the development of 5G FWA solutions.

Increasing Demand for Warehouse Management Systems in e-Commerce Industries

     The growth of warehouse management system market can be attributed to the increasing growth in e-commerce industry due to onset of COVID-19 pandemic, emergence of multi-channel distribution networks, globalization of supply chain networks, increasing adoption of on-cloud WMS solutions, and need for efficient forecasting models.

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The Warehouse Management System (WMS) Market is likely to reach USD 5.1 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 16.0% from 2020 to 2025.

On-premise deployment to lead the WMS market from 2020 to 2025

On-premise deployment is expected to hold the largest share of the WMS market in 2020. Benefits such as enhanced data security, better performance and control over data transmission, and easier customization provided by on-premise warehouse management systems are resulting in their high adoption. Further, the growth of this market is driven by the 3PL, automotive, food & beverages, and healthcare industries.

Software to lead the WMS market during forecast period

The software segment is expected to hold the largest market share from 2020 to 2025. Increasing awareness about WMS software among small and midsized enterprises (SMEs), globalization of supply chain networks, and growing share of cloud-based WMS software solutions are the key factors boosting the demand for WMS software. Further, the rising demand for highly sophisticated warehousing and logistics infrastructure is expected to drive the growth of the WMS market for software.

Advanced (Tier 1) WMS to lead the market from 2020 to 2025

Advanced (tier 1) warehouse management systems accounted for the largest size of the market during the forecast period. These warehouse management systems offer benefits such as efficient handling of complex warehouse and distribution network, high scalability, and quick processing of large volumes of data generated through warehousing and logistics operations. Further, advanced warehouse management systems aid warehouse operators in making better decisions about inventory stocking, movement, and employee efficiency with adequate and accessible information. These factors are driving the growth of the market for advanced (tier 1) warehouse management systems.

3PL industry to lead WMS market from 2020 to 2025

The 3PL industry is one of the major industries driving the growth of the WMS market. Factors such as the growing need for efficient order management, increased outsourcing of logistics and transportation operations, and globalization of supply chain networks have fueled the adoption of warehouse management systems in the 3PL industry. Due to the outbreak of COVID-19, a complete 360° transformation in business operations and logistic processes can be observed. Processes have become more dynamic than before, while companies are focusing on the fulfillment of critical tasks. This has given a tremendous boost to 3PL services. As companies continue to make use of 3PL services, their warehousing needs are increasing. This has bolstered the demand for WMS in the 3PL sector.

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North America to be largest market for warehouse management systems during forecast period

North America is expected to hold the largest market size for warehouse management systems during the forecast period. Factors such as rising adoption of on-cloud WMS solutions, presence of large companies with global warehousing and distribution operations, growing e-commerce industry, and developed third-party logistics (3PL) networks are driving the growth of the WMS market in North America. As the COVID-19 pandemic continues to spread in the US, logistics and supply chain operations are affected severely, especially in the North American region. Retail, industrial and consumer goods are some of the major industries that are hugely affected by the COVID-19 outbreak in North America. Supply chain disruptions will have both long-term and short-term effects on businesses.

Major players operating in the WMS market include Manhattan Associates (US), Blue Yonder (JDA Software) (US), HighJump (Körber) (US), Oracle (US), SAP (Germany), IBM (US), Infor (US), PSI (Germany), PTC (US), Tecsys (Canada), Blujay Solutions (UK), Epicor Software (US).

Growth Impact of the Global Hydraulic Cylinder Market by 2025

 COVID-19 impact on the Global Hydraulic Cylinder Market

COVID-19 has emerged as a global pandemic that has spread across more than 200 countries worldwide and disrupted various industries around the world. The dynamics upon which various industries used to operate are set to change drastically. As the world continues to fight this crisis, multiple industries continue to experience a constant decline. A sharp decline in demand from end-use industries such as aerospace, automotive, construction, mining, and oil & gas is likely to affect the market. The demand for hydraulic cylinders from these industries is reducing as the COVID-19 pandemic is reducing manufacturing output as well as consumer confidence.

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The global hydraulic cylinder market size is expected to grow from USD 13.4 billion in 2020 to USD 15.8 billion by 2025 at a CAGR of 3.3%. The market growth is fueled by significant demand from the construction industry and growing use in mining equipment. Moreover, the increasing demand for material handling equipment is also driving the demand for hydraulic cylinders.

The hydraulic cylinder market for double-acting hydraulic cylinders to grow at highest CAGR from 2020 to 2025

Double-acting hydraulic cylinders are used in agriculture, automotive, and several other industries owing to their retraction property. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, tractors, harvesters, telescopic loaders, earth moving equipment, forklifts, and heavy trucks.

Hydraulic cylinder market for agriculture to exhibit high growth during the forecast period

Demand for agricultural equipment is on the rise in agriculture-based economies of APAC such as India, Nepal, and Myanmar, where the production of wheat, rice, cotton, and sugarcane is increasing to address the export demands from the US, Hong Kong, Germany, and Vietnam among others. This has increased investments in machines and equipment for precision agriculture, which is likely to drive the demand for hydraulic cylinders in agriculture industry.

Hydraulic cylinder market in APAC to grow at highest CAGR during the forecast period

The hydraulic cylinder industry in APAC is expected to grow at the highest CAGR during the forecast period. Japan is expected to continue to account for the largest hydraulic cylinder market share in APAC during the forecast period, followed by Australia and China. The growth of the market in APAC can be attributed to rapid industrialization and infrastructure development. Hydraulic cylinders are major components in both construction equipment and agricultural equipment. Since both equipment has high demand in APAC, the market for hydraulic cylinders is expected to grow at a substantial rate in the next few years.

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Key Market Players

Enerpac Tool Group (US), Bosch Rexroth (Germany), Eaton (Ireland), KYB Corporation (Japan), Parker-Hannifin Corporation (US), Caterpillar (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), HYDAC (Germany) were the major players in the market.

Key Developments in Noise Monitoring Market

 The noise monitoring market is expected to reach USD 806.5 Million by 2023 from USD 610.2 Million in 2016, at a CAGR of 4.1% between 2017 and 2023. The major factors driving the growth of the noise monitoring market include the growing occupational hearing impairment in industries, stringent government policies, demand for reducing noise pollution in urban areas, need for noise monitoring systems at airports to optimize profit and capacity, rising installation of all-in-one environmental monitoring solutions, and requirement of noise monitoring infrastructures in mining, wind plant, petrochemical industry, and harbor.

The long-term noise monitoring market is expected to grow at the highest rate between 2017 and 2023. The growth of this segment in the noise monitoring market can be attributed to the increasing adoption of noise monitoring in sectors such as road traffic, industrial, railways, hospital, and construction sites.

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The class 1 noise monitoring device is expected to hold the largest share of the global noise monitoring market during the forecast period. The high accuracy level and adoption of the device in critical industries, such as airport, manufacturing, mining, and others are the major reasons for the market growth.

The noise monitoring service market is expected to grow at the highest rate between 2017 and 2023. The major reason for the growth of service market in noise monitoring is the trend of rental services in different sectors such as industrial, residential, construction site, hospital, recreational area, and acoustic management.

The noise monitoring market for industrial application is expected to grow at the highest rate during the forecast period. The reason for this highest growth is the increasing adoption of noise monitoring policies by companies worldwide. The rising pressure from the government for public health and safety has enforced the industries to regulate the noise generated in factories and provide appropriate noise-reducing devices to employees working in high-noise zones. This has also expanded the noise monitoring service market where service providers offer noise-monitored data at regular intervals in specific areas.

The noise monitoring market comprises business entities such as Svantek (Poland), RION Co. Ltd. (Japan), Bruel & Kjaer (Denmark), Cirrus Research Plc (UK), Extech Instruments (US), Pulsar Instruments (UK), 3M (US), Nti-Audio (Liechtenstein), Castle Group Ltd. (UK), SKF Group (Sweden), Kimo Instrument (Japan), B&K Precision Corporation (US), HT Instruments (Germany), 01dB (ACOEM Group) (France), SINUS Messtechnik GmbH (Germany), CESVA INSTRUMENTS SLU (Spain), Testo SE & Co. KGaA (Germany), and Casella Inc. (US).

Major Applications of HVAC Controls Market from 2020 to 2025

 Heating, ventilation, and air conditioning (HVAC) systems help in regulating the indoor and vehicular environmental comfort to provide thermal comfort and acceptable indoor air quality. However, in order to regulate the efficiency of these systems, control systems are needed. The HVAC controls industry is in the middle of a very interesting transition.

 

The HVAC controls market size is expected to be valued at USD 14.8 billion in 2020 and is projected to reach USD 24.4 billion by 2025; it is expected to grow at a CAGR of 10.5% from 2020 to 2025. The major factors driving the growth of the market include consolidating trend of smart homes, accelerated further by COVID-19 situation to boost HVAC controls market growth, boom in the construction sector, emergence of IoT-enabled HVAC systems, and the need to achieve energy efficiency in buildings. However, complexities in upgrading existing HVAC systems pose challenges for market growth.

 

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The market for temperature control system segment is expected to witness the highest CAGR from 2020 to 2025 within the global HVAC controls market. The temperature control system segment holds the largest share of the overall HVAC controls market, as the cost of temperature control systems is low. These systems also have a large number of applications. A ventilation control system controls the flow of fresh and stale air within an enclosed environment. The implementation of ventilation control systems is limited to buildings and houses where using a natural ventilation medium is not feasible. Owing to this, the growth rate of ventilation control systems is comparatively lower than other HVAC control systems.

 

The HVAC controls market for commercial application segment held the largest size of the HVAC controls market in 2019. The commercial applications of HVAC controls include shopping malls, educational institutions, and healthcare institutions. The rise of globalization and the increase in investments in developing profitable commercial infrastructure that includes building automation systems and controls have contributed to the growth of the HVAC controls market for commercial applications. The growing tourism industry in APAC and RoW has accelerated the growth of the commercial infrastructure, wherein HVAC controls are installed to ensure guest comfort. Moreover, growing investments by governments for the construction of commercial spaces is another crucial factor that will propel the growth of the HVAC controls market. The COVID-19 outbreak has impacted the supply chain of HVAC controls and the components such as sensors and controlled equipment, which has resulted in shipment delays in the US, Germany, and Australia. Due to these delays, manufacturers are not able to meet the deadlines for claiming tax credits. This current uncertainty about the ability to qualify for tax incentives is expected to have substantial negative impacts on the HVAC industry.

 

The HVAC controls market in APAC is expected to grow at the highest CAGR during the forecast period. APAC has been a major contributor to the growth of the overall HVAC controls market as this region has a huge market for the construction industry, which is the primary end user of HVAC controls. The growing population in developing countries in this region, along with environmental awareness, is supporting the adoption of HVAC controls. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of HVAC controls in this region. However, the APAC market is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. Also, as the pandemic has also affected individual per capita income, the adoption of new HVAC systems in the residential segment has significantly decreased. However, this loss is expected to be recovered in the coming years with a gradual recovery of the country’s overall economy.

Growing Demand for Tank Level Monitoring System Market

 According to the new market research report "Tank Level Monitoring System Market by Technology (Float & Tape Gauging, Pressure Level Monitoring, Ultrasonic Level Monitoring, Capacitance Level Monitoring, Radar-Based Level Monitoring), Application, & Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Tank Level Monitoring System Market is expected to grow from USD 757 million in 2020 to USD 1,057 million by 2025, at a CAGR of 6.9%. Growing demand from process industries and growing demand for IoT-based tank level monitoring systems are the key factors driving the growth of the tank level monitoring system market.

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Tank Level Monitoring System Market for oil & fuel to dominate in 2020

The market for oil & fuel accounted for the largest size in 2019. The levels of oil and fuel in storage tanks must be continuously monitored because of strict safety and environmental requirements. Overfilling or product discharge on deck and into the sea could have devastating consequences for human life and the environment. The charging and discharging procedures have to be carefully supervised. Advancements in technology have allowed the level sensing technology to measure oil and fuel levels in storage tanks. IoT-based solutions are also gaining traction in the oil & gas industry.

Radar-based technology to grow at a higher CAGR during the forecast period

The market for oil & fuel accounted for the largest size in 2019. The levels of oil and fuel in storage tanks must be continuously monitored because of strict safety and environmental requirements. Overfilling or product discharge on deck and into the sea could have devastating consequences for human life and the environment. The charging and discharging procedures have to be carefully supervised. Advancements in technology have allowed the level sensing technology to measure oil and fuel levels in storage tanks. IoT-based solutions are also gaining traction in the oil & gas industry.

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Tank Level Monitoring System Market in APAC to grow at highest CAGR during the forecast period

In terms of value, APAC to grow at the highest CAGR during the forecast period.  Among all applications, the oil & fuel segment is the most dominant application in the APAC tank level monitoring system market. APAC is expected to show significant growth in the oil & gas industry. India is expected to be one of the largest contributors to non-OECD petroleum consumption growth globally.

TE Connectivity (Switzerland), Emerson Electricl (US), Graco Inc (US), Piusi (Italy), Tank Scan (US), Gauging Systems (US), Varec Inc (US), Digi International (US), Dunraven Systems (Ireleand), Schneider Electric (France), Pneumercator  (US), The Southern Company (US), Skybitz (US), AIUT (US), AXSensor (Sweden), HMS Networks (Switzerland), Kingspan (Ireland), Schmitt Industries Inc (Germany), Oriel Systems (UK) and Powelectrics (UK) are a few major companies dominating the Tank level monitoring system market.

Major Key Trends in Time-Sensitive Networking Market

 The time-sensitive networking market is expected to be worth USD 606.0 Million by 2024, at a CAGR of 53.8% considering that it will get commercialized by 2019. The growth of this market can be attributed to the increasing adoption of industrial IoT and Industry 4.0, the increasing need for real-time networking for various applications, and the development of IEEE standards for deterministic Ethernet.

The time-sensitive networking market, on the basis of component, has been segmented into switches; hubs, routers, and gateways; connectors; communication interfaces; power supply devices; controllers and processors; memory; isolator and convertors; and others. The market for switches is expected to grow at the highest rate during the forecast period as many players are expected to provide TSN-enabled switches in coming years. For instance, Belden is releasing a software update for its modularly managed Hirschmann switch types RSPE35 and RSPE37. This will enable TSN features on these switches. This update is expected to be available by the end of 2017. These developments infer that switches would hold the largest share of the TSN market.

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The time-sensitive networking market based on application has been segmented into industrial automation, power and energy, automotive, transportation, oil & gas, aerospace, and others. The market for automotive application is expected to grow at the highest CAGR during the forecast period. The increasing interest for TSN in automotive application plays a significant role to solve the requirement of latency, synchronization, conformance, availability, and QoS for vehicle communication. The growing environment and safety regulations for automobiles and the integration of advanced systems in automobile manufacturing are expected to fuel the TSN market for automotive applications.

North America is expected to hold the largest share of the time-sensitive networking (TSN) market during the forecast period. Manufacturers in the US are leveraging a competitive advantage through the efficiencies gained through automation. The growing industrial automation in the US is one of the driving factors for the TSN market. The increasing adoption of TSN technology for industrial manufacturing and Industry 4.0 applications in the US is one of the reasons for the growth of the TSN market in North America. The companies are collaborating to develop the TSN testbed activities.

The inability of TSN standards to provide customized solutions restrain the growth of the TSN market. Major players in this market include Cisco Systems, Inc. (US), NXP Semiconductor N.V. (Netherlands), Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), and Xilinx, Inc. (US).

Growing Demand for Process Analyzers in Emerging Markets

 The process analyzer market size was valued at USD 6.8billion in 2020 and is projected to reach USD 8.1 billion by 2025; it is expected to grow at a CAGR of 3.5% from 2020 to 2025.The growth of process analyzer market is driven by rising demand for water and wastewater treatment, increase use of process analyzer in drug safety, and fiscal policy measures by regional financial institutions to boost process analyzer market during the COVID-19 crisis.

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The TOC analyzer in liquid analyzer segment is projected to account for the largest size of the liquid process analyzer market from 2020 to 2025. The growth of this segment can be attributed to the increased use to monitor the raw feedstock and process water quality. Total organic carbon (TOC) is a sum measure of the concentration of all organic carbon atoms present in a sample of water. TOC analyzers detect the presence of all carbon-bearing molecules and organic contaminants, regardless of the molecular make-up. Organic molecules are introduced into the water from the source water and purification & distribution system materials.

 

The APAC region held the largest share of the process analyzer market during the forecast period. This growth can be attributed to the increasing adoption of various liquid analyzers in the water & wastewater treatment and pharmaceutical industries. The COVID-19 pandemic started in the beginning of 2020, and many pharmaceuticals companies focused their efforts on creating a vaccine for the corona virus; this necessitated the increased use of process analyzers in the pharmaceutical industry.

Key Market Players

The process analyzer players have implemented various types of organic growth strategies, such as new product launches and product developments to strengthen their offerings in the market. The major players are ABB Ltd. (Switzerland), AMETEK Process Instruments (US), Applied Analytics, Inc. (US), Endress+Hauser AG (Switzerland), Emerson Electric Co. (US), Suez (France), Mettler-Toledo International Inc. (US), Siemens AG (Germany), Endress+Hauser AG (Switzerland), Thermo Fisher Scientific, Inc. (US), and Yokogawa Electric Corp. (Japan) were the major players in the process analyzer market.

Continuous Demand for Machine Safety in the various industries

 The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors driving the demand for machine safety systems include strict safety mandates and high requirements for reliable safety systems to ensure personnel and asset protection. However, the high investment required for installing machine safety systems and lack of awareness and complexity of standards are the key factors restraining the machine safety market growth. The key challenges faced by machine safety manufacturers include the high complexity of safety applications and lack of machine safety certified workforce.

The market for programmable safety systems is expected to grow at the highest CAGR during the forecast period as manufacturers are replacing their existing systems to comply with strict machine safety regulatory standards. Programmable safety systems such as safety PLCs are an integral part of safety instrumented systems. Safety PLCs need to be certified with IEC 61508—the machine safety standard for electrical/electronic/programmable electronic safety-related systems. Moreover, the prominent players in the industryhave been affected owing to the outbreak of COVID-19.  The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the machine safetymarket in 2020.

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The robotics segment, by application, is expected to continue to hold the largest share of the machine safety market during the forecasted period. With technological advancements in the robotics industry, new collaborative robots are being introduced; due to this, safety regulations for robotics are being rewritten with new specifications.

The market for food & beverages is expected to grow at the highest CAGR during the forecast period. In food processing plants, several dangerous machines are used for which plant managers should follow safety regulations to avoid penalties. Nowadays, food & beverages manufacturers rely more on automated controls for production. Machine safety systems, such as safety PLCs, safety light curtains, and laser scanners, are used in manufacturing units for visual inspection of processes and for safeguarding workers from harming themselves while handling processes. These safety components are used on a large scale in the packaging segment of the food & beverages industry. Financial losses faced by US manufacturers due to COVID-19, will affect the production capacity and foreign trade operations in 2020. Thus, the economic slowdown is expected to impact the market for machine safety in 2020.

The machine safety market in APAC is expected to grow at the highest CAGR during the forecast period, owing to the increasing number of oil & gas refineries, and significant growth in the chemicals industry is expected to lead the demand for machine safety in the next 5 years. The growing competition in the global market is forcing companies in the energy & power industry in this region to adopt innovative cost reduction techniques and solutions, along with increasing safety. However, lockdowns are being observed across countries, which has halted most economic activities. With many region- and country-level economic packages infusing money into the market to boost the economy to come out of recession brought on by COVID-19, recovery from world economic depression is expected between 2021 and 2022.

Upcoming Trends & Emerging Applications in the Thermal Imaging Market

 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.

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.

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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.

HVAC Controls Market worth $24.4 billion by 2025

 According to the new market research report "HVAC Controls Market with COVID-19 Impact by System (Temperature, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to grow from USD 14.8 billion in 2020 to USD 24.4 billion by 2025; it is expected to grow at a CAGR of 10.5% from 2020 to 2025. HVAC controls are used to automate and control heating, ventilation, and air conditioning of various buildings. Controlled equipment, sensors, and controlling devices, such as thermostats, control valves, and controllers, are generally used for this purpose. The growth of this market is expected to be driven by the consolidating trend of smart homes, accelerated further by COVID-19 situation to boost HVAC controls market growth, boom in the construction sector, the emergence of IoT-enabled HVAC systems, and the need to achieve energy efficiency in buildings. These factors have helped the HVAC controls market to gain traction in applications, such as industrial, residential, and commercial.

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New construction segment held the largest share of HVAC controls market in 2019

The HVAC controls industry, based on implementation type, is led by the new construction segment (in terms of size). Rapid infrastructural developments, improved standard of living, and increased focus on developing energy-efficient HVAC systems are fueling the growth of the HVAC controls market for new construction. Various government regulations to implement energy-efficient HVAC systems and controls have resulted in the wide adoption of HVAC controls in new buildings.

The market for integrated control system is expected to register with highest growth rate during the forecast period

An integrated control system is a combination of temperature, ventilation, light, and other control systems. This combination provides users with the benefit of different features of different controls. Integrated control systems are also expected to integrate communication modes, such as Wi-Fi, cloud computing, and the Internet of Things (IoT), which would help in controlling, monitoring, and maintaining HVAC systems from virtually anywhere. The surge in the use of IoT in building infrastructures and the demand for smart homes are driving the growth of this market. Increasing demand for energy efficiency in buildings is also a major factor contributing to the growth of the market for integrated control systems.

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APAC accounts for the largest market size during the forecast period

APAC held the largest HVAC controls market share in 2019, followed by North America and Europe. China is among the fastest-growing economies in APAC, owing to its huge population, followed by India. Japan is a smaller country with respect to land size but is a developed country and technologically advanced compared with most countries in APAC. Technological advancements and inclination toward the use of energy-efficient products fuel the growth of the HVAC controls market in Japan. These factors are driving the growth of the HVAC controls market in APAC.

Some of the major HVAC controls manufacturers based in Asia Pacific are Daikin Industries (Japan), LG Electronics (South Korea), Azbil (Japan), and Cubic Sensor and Instrument Co., Ltd. (China).

Key Developments in the Smart Mirror Market

 The overall smart mirror market was valued at USD 1,955.6 million in 2017 and is expected to reach USD 4,420.8 million by 2023, at a CAGR of 9.41% between 2018 and 2023.

Key Market Players

Gentex (US), Magna (Canada), Electric Mirror (US), Seura (US), Murakami Kaimeido (Japan), Ficosa (Spain), ALKE (Belgium). Ad Notam (Germany), Dension (Hungary), and Keonn (Spain).

By application, the hospitality and retail smart mirror market segment is expected to grow at the highest growth rate during the forecast period

Among the application segment, the hospitality and retail smart mirror segment is expected to grow at the highest CAGR during the forecast period. Smart mirrors are often used in the retail sector wherein retailers try to catch the interest of potential clients and encourage them for frequent or regular visits. Additionally, they can display useful information, ranging from price and size availability to the fabric used. Smart mirrors allow shoppers to share their shopping experiences on social media. The increasing adoption rate of smart mirrors in North America and Europe for the hospitality and retail sectors is also driving the smart mirror market.

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By type, the interior mirror holds the largest share of the automotive smart mirror market

The interior mirror segment is expected to hold the largest market share. The automotive market for the interior smart mirror was valued at USD 1,249.7 million in 2017 and is expected to reach USD 2,432.1 million by 2023, at a CAGR of 6.05% during the forecast period. At present, the interior auto/self-dimming mirrors are more often used in cars and light commercial vehicles.

APAC to account for the highest market growth during the forecast period

APAC is expected to grow at the highest market growth in the smart mirror market during the forecast period, followed by the APAC region. The adoption of advanced technologies such as smart mirrors is projected to increase rapidly due to the increase in the production of luxury and premium cars in the Indian and Chinese automotive markets. Other factors contributing to the growth of the automotive smart mirror market include the falling prices of camera technology and increasing demand for advanced features in mirrors for vehicles. APAC is a cost-sensitive market as compared to other regions. Currently, auto/self-dimming mirrors are mostly used in passenger cars.

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Magna (Canada) has been ranked second in this market. The company offers interior mirrors having features such as auto-dimming, telematics, display, sensor integration, Bluetooth and hands-free connectivity, navigation, and microphone. Its exterior mirrors include features such as integrated cameras. The expansion of business in non-traditional markets is an important part of its growth strategy. The company expanded its plant in Slovakia in October 2017. Also, in September 2017, Magna opened an engineering center in China.

Key Challenges for the 5G Fixed Wireless Access Market

 COVID-19 Impact on the Global 5G Fixed Wireless Access Market

With the governments of different countries declaring a state of emergency owing to the spread of COVID 19, companies are increasingly adopting the work-from-home culture to keep their businesses operational and enable employees to follow social distancing guidelines. Trends such as work-from-home, social distancing, and online education drive the growth of the 5G fixed wireless access market. Although the pandemic has slowed down the efforts of the global wireless industry to formulate different standards and carry out trade shows related to wireless communication, the technology is being used to fight the impact of the COVID-19 on different industries and countries.

The 5G fixed wireless access market was valued at USD 503 million in 2020 and is projected to reach USD 86,669 million by 2026; it is expected to grow at a CAGR of 135.9% from 2020 to 2026. Increasing the adoption of advanced technologies such as machine-to-machine (M2M) and Internet of Things (IoT) and rising use of millimeter-wave technology for 5G fixed wireless access is expected to drive the growth of the 5G fixed wireless access market. However, the high costs of infrastructures and the adverse impact of millimeter-wave technology on the environment act as restraints for the growth of the 5G fixed wireless access market.

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Sub–6 GHz segment held the largest share of 5G fixed wireless access market

The sub–6 GHz frequency segment is projected to account the largest share in the 5G fixed wireless access market, in terms of volume, in 2026. The key difference between sub–6 GHz and mmWave bands is the difference in them in terms of coverage and indoor penetration. mmWave bands have a small coverage footprint owing to their RF properties. The frequencies in this band are unable to penetrate solid objects such as walls. mmWave requires more sites than sub–6 GHz to provide similar coverage. For instance, based on the simulations run by Kumu Networks, it is estimated that the 26 GHz spectrum requires 7 to 8 times more sites than the 3.5 GHz spectrum. The 5G deployment strategy of operators is to use sub–6 GHz to provide expansive city and country-wide coverage and utilize the dense deployment of mmWave in high-traffic dense urban and urban areas, as well as suburban pockets to provide increased broadband capacity. The mmWave clusters provide higher capacity magnitudes than sub–6 GHz clusters owing to the broadband density and a large spectrum available. Additionally, such dense deployments are easy with mmWave owing to their small coverage footprint. Therefore, most telecommunication operators and 5G fixed wireless access equipment manufacturers are commercially launching products that support the sub–6 GHz frequency range.

Semi-urban areas to continue to lead 5G fixed wireless access market during forecast period

In terms of value, the semi-urban segment is projected to account largest share in the 5G fixed wireless access market in 2026. The growth of this segment can be attributed to the fact that in semi-urban areas, the density of the population is sparse. Hence, these areas require significantly high investments to connect subscribers with a network through wireline infrastructures. With high-power transmissions/receptions and advanced antenna technologies, wireless links can effectively reach rural areas without any major construction required as only base stations and customer premises equipment require to be installed. In several situations, operators are required to provide temporary coverage in some areas wherein there is little or no demand for Internet connectivity; for instance, skiing resorts during winters. Fixed wireless access is a flexible, quick, and cost-effective solution to cater to the rural/temporary Internet requirements.

The 5G fixed wireless access market is dominated by a few globally established players such as Huawei (China), Ericsson (Sweden), Nokia Corporation (Finland), Samsung Electronics (South Korea), Inseego (US), Siklu Communication, Ltd. (Israel), Mimosa Networks, Inc. (US), Vodafone (UK), Verizon Communications Inc. (US) and CableFree (UK).

 

5G Fixed Wireless Access Market Dynamics

Driver: urged demand for high-speed Internet connectivity and broad network coverage with reduced latency and power consumption

The past decade has witnessed several improvements in network connectivity and related services. A number of SMEs that aim to have full control over their connectivity and provide multi-carrier support to their customers simultaneously require fast networks capable of carrying out high-speed data transmissions. 5G network technology is capable of offering sufficient bandwidth to support increasing data traffic. It offers 10 to 100 times more capacity and high-speed data services than that provided by 3G and 4G networks. Therefore, the increasing demand for high-speed broadband services is expected to drive the growth of the 5G fixed wireless access market in near future.

Restraint: High infrastructure costs and possibility of revenue reduction for telecommunication companies

5G infrastructures are expected to change the existing communication methods. Though 5G infrastructures are still in the nascent stage, a number of companies and government bodies support the development and deployment of 5G technology with increased investments to carry out research and development activities.

Increased investments are necessary to upgrade existing networks to 5G. This involves replacing existing components or installing new ones such as access networks, gateways, switches, and routing elements, thereby resulting in high capital requirements. Small-sized service providers face difficulty in making such high investments. Moreover, service providers are curious to deploy 5G to offer new low-cost services to their customers that are expected to reduce the main revenue source (voice) for telecommunication companies. This, in turn, creates an unwillingness among telecommunication companies to invest in new technologies that could reduce their revenues.

Opportunity: Increased demand for 5G fixed wireless access networks from different industries

The 5G fixed wireless access network offers high-speed data transfer rate, low latency, and consistent connectivity, which are useful for various industries. For instance, in autonomous cars/connected cars, the low latency of 5G networks is critical for implementing safety systems and ensuring real-time vehicle-to-vehicle and vehicle-to-infrastructure communication. In smart cities, there are dense arrays of wireless sensors that are useful for various services and applications, right from environmental and pollution monitoring to security surveillance, traffic management, and smart parking.

Challenge: Heat dissipation in MIMO systems

The massive MIMOs are expected to play a critical role in the 5G fixed wireless access market. They are anticipated to be key enablers and foundational components of fully operating 5G networks. One of the key roles of any 5G network is to handle the large increase in data usage, and MIMO is the perfect technology to address this requirement. However, the complexity of MIMO systems poses design- and assembly-related challenges in the form of reciprocity errors, low signal-to-interference ratio (SIR), high energy consumption, and increased channel coherence time.

EMC Shielding and Test Equipment Market worth $8.2 billion by 2025

 According to the new market research report "EMC Shielding and Test Equipment Market with COVID-19 Impact by Type (EMC Shielding, EMC Test Equipment), Vertical (Consumer Electronics, Telecom & IT, Automotive, Healthcare, Aerospace, and Others), Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the global EMC shielding and test equipment market size was valued at USD 6.4 billion in 2020 and is projected to reach USD 8.2 billion by 2025; it is expected to grow at a CAGR of 5.2% from 2020 to 2025. The key factors fueling the growth of this market include surging demand for consumer electronics, increasing electromagnetic pollutions, and ongoing demonstration of field trials and pilot tests to manifest the viability of 5G technology are instrumental in driving the growth of the EMC shielding and test equipment market.

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

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

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

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

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

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

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

Machine Safety Market worth $6.0 billion by 2025

 According to the new market research report "Machine Safety Market with COVID-19 Impact, by Component (Presence Sensing Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays), Implementation, Application (Assembly, Packaging, Robotics), Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Machine Safety Market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors driving the demand for machine safety systems include strict industrial safety mandates and high requirements for reliable safety systems to ensure personnel and asset protection.  Moreover, adoption of digital technology to minimize the impact of COVID-19 and elevate organization safety; growing acceptance of workplace safety standards in emerging economies; and increasing use of IIoT to ensure better management and improved performance of industrial assets are some of the major growth opportunity for machine safety market.

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Market for the programmable safety system to grow at fastest CAGR from 2020 to 2025

Programmable safety systems are highly reliable logic solvers, which provide both fail-safe and fault-tolerant operations. The market for programmable safety systems is anticipated to grow at a fast rate in the coming years as manufacturers are replacing the existing systems to comply with strict industrial safety regulatory standards. Programmable safety systems are an integral part of safety instrumented systems. These systems must be designed or selected in accordance with the IEC 61508 standard and are required to achieve the SIL 3 and SIL 4 performance.

Individual component market to lead the machine safety market during the forecasted period

Currently, machine safety systems provide increased safety for process industries. Individual componets of machine safety demands continue to rise. Individual components are compatible with each other and, therefore, are easy to connect and configure. Also, the installation of individual components is easy; hence, organizations demand aftermarket installation of individual safety components, resulting in high implementation of individual components compared with embedded components. However, several industrial units across the world have suspended their operations owing to the outbreak of the COVID-19. This is expected to create a temporary slag in the growth of the individual component market in 2020.

Robotics application to hold the largest market share for machine safety in 2020

The robotics segment held the largest size of the market in 2020. Machine safety functions such as controlling, limiting, and positioning are indispensable to automated robotic processes. With technological advancements in the field, new collaborative robots have been introduced; due to this, safety regulations for robots are being rewritten with new specifications. The ISO/TS 15066 specification outlines guidelines covering collaborative model use within 4 main areas—safety-monitored stops, hand-guiding, speed and separation monitoring, and power and force limiting robotics products.

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Energy & power industry to hold the largest market share for machine safety in 2020

The global demand for energy is increasing rapidly. This is pushing the energy & power industry to utilize available resources efficiently and reduce asset downtime while enhancing their performance. Machine safety systems such as burner management systems, fire, and gas monitoring controllers, and emergency shutdown systems are widely integrated into power plants. Fire and gas monitoring solutions are especially deployed in power plants and substations due to applicable laws and regulations. The energy & power industry has been largely affected by the COVID-19 outbreak. However, many power companies are helping communities by keeping their assets online and supplying electricity and natural gas. The power sector has mainly been hit due to the declined demand from manufacturing and production plants.

Europe to be the largest market for machine safety during the forecast period

Europe is one of the largest markets for machine safety systems as machine safety standards are strictly followed within the European Economic Area (comprises all European Union countries). The safety standards and directives present in the region restrict the supply and operation of machinery that do not meet the regulatory requirements. The machine safety requirements are stringent in the European region, which are driving the growth of the market. Moreover, increasing focus of European companies on reducing OPEX and rising environmental concerns have propelled the installation of machine safety systems in this region.

Major players in the machine safety market are ABB Ltd. (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corp. (Japan), Omron Corporation (Japan) Keyence Corporation (Japan), Mitsubishi Electric Corporation (Japan), Pilz GmbH & Co. KG (Germany), Sick AG (Germany), Balluff GmbH (Germany), and Banner Engineering Corp. (US).

Emerging Applications & Growth in Wi-Fi Chipset Market

 According to the new market research report "Wi-Fi Chipset Market by IEEE Standards (802.11ay, 802.11ax, 802.11ac Wave 2), Band (Dual Band, Tri-Band), MIMO Configuration (SU-MIMO, MU-MIMO), Product Category (Smartphones, Tablets, PCS), and Geography - Global Forecast to 2022", is expected to grow from USD 15.89 Billion in 2016 to reach USD 19.72 Billion by 2022, at a CAGR of 3.5% between 2017 and 2022.

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IEEE 802.11ax segment expected to grow at the highest rate between 2018 and 2022

The Wi-Fi chipset market for 802.11ax is expected to witness a triple digit growth between 2018 and 2022. Unlike earlier versions of 802.11, 802.11ax is not a standard for upgrading speed. The ability of 802.11ax to increase throughput enormously makes it one of the most preferred IEEE standard in the Wi-Fi chipset market. 802.11ax promises consumers a superior user experience, in all possible scenarios. In 2016, Qualcomm Technologies, Inc. (U.S.) introduced a prototype of 802.11ax that demonstrates 4x downlink (DL) user throughput improvement for a given traffic scenario by supporting 4 user devices to upload data simultaneously. The standardization of 802.11ax is in progress in IEEE. Draft 1.0 was completed in 2016, and the final specification is expected to be published by the end of 2018.

Smartphone segment is expected to dominate the Wi-Fi chipset market between 2017 and 2022

Smartphones accounted for the largest share of the Wi-Fi chipset market in 2016, and is expected to maintain its leadership position in this market during the forecast period. The Internet and connectivity have become an inevitable aspect of smartphone usage. The usage of smartphones for personal as well as business applications has resulted in the demand for higher data rates. The high data usage and download of files on smartphones have generated the need for Wi-Fi to complement the cellular connectivity, which has led to the adoption of more advanced technologies such as IEEE 802.11ad standards to be integrated into smartphones. System on Chip (SoC) have been widely implemented in the mobile technology because of the increasing competition among market players to launch smartphones with more functionalities, increased performance, and reduced size.

Key players in the Wi-Fi chipset market see Asia Pacific as a lucrative region between 2017 and 2022

Asia Pacific (APAC) includes some of the fastest-growing economies in the world, such as China and India. The APAC region also includes some technologically advanced countries, such as Japan, Singapore, South Korea, and Australia. The rapid growth of the consumer electronics manufacturing industry in China, Japan, and South Korea, along with the growth of the wireless communication sector in developing countries of this region, is expected to offer significant growth opportunities to the Wi-Fi chipset market between 2017 and 2022.

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The major players in the Wi-Fi chipset market include Qualcomm Technologies, Inc. (U.S.), Intel Corporation (U.S.), Texas Instruments, Inc (U.S.), Stmicroelectronics N.V. (Switzerland), Mediatek, Inc. (Taiwan), Samsung Electronics Co., Ltd. (South Korea), Marvell Technology Group Ltd. (Bermuda) and Cypress Semiconductor Corporation (U.S.).

5G Chipset Market worth $67.2 billion by 2027

 According to the latest market research report "5G Chipset Market with COVID-19 Impact by Type (Modem, RFIC), Frequency (Sub-6 GHz, 24- 39 GHz, Above 39 GHz), End-Use (Telecommunication Infrastructure, Mobile Devices, Non-mobile Devices, Automobile), Process Node & Geography - Global Forecast to 2027", published by MarketsandMarkets™, the 5G chipset market is expected to grow from USD 12.8 billion in 2020 to USD 67.2 billion by 2027, at a CAGR of 26.7%. The major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet and broad network coverage, increasing cellular IoT connections, and an increase in mobile data traffic. However, the high cost of the 5G chipset is expected to restrain the growth of the market.

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RFIC segment to witness the highest growth in 5G chipset market in coming years

RFIC will play an integral role, especially in 5G networks, in the production and commercialization of consumer electronic devices, next-generation base stations, and other radio access products. It is developed to reinforce the overall performance of the 5G base station in terms of high efficiency and compact form factors.

10 to 28 nm to account for the largest share of 5G chipset market during the forecast period

Advancements in the fabrication process are supporting the improvements in ICs, which has made electronic devices smaller and more power optimized. The 5G chipset market by process node has been segmented into less than 10 nm, 10–28 nm, and above 28 nm. Some of the major process nodes on which 5G chipset components such as modems and RFICs are manufactured include 5 nm, 7 nm, 10 nm, 14 nm, 28 nm, 45 nm, 60 nm, and so on. 5G chipsets with process node between 10 and 28 nm mostly include baseband processors for 5G infrastructure and RFIC components.

24–39 GHz to grow at highest CAGR in 5G chipset market from 2020 to 2027

This frequency band is also called the mmWave frequency band and is capable of offering ultra-high-speed mobile broadband 5G service. This spectrum is likely to play a key role in supporting the burgeoning mobile data traffic growth. High bandwidth offered by this spectrum and the improving participation of telecom service providers in this spectrum are fueling the growth of the 24–39 GHz frequency band.

Browse in-depth TOC on "5G Chipset Market"
116 – Tables
70 – Figures
229 – Pages

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Mobile devices to hold the largest share of 5G chipset market during the forecast period

Smartphones and tablets will be the key attraction in the consumer electronics market for 5G network. With the implementation of 5G network, customers can access and download data at high speed. In 5G smartphones, 5G-enabled ASICs are implemented. Increasing use of smartphones to drive the demand for 5G chipsets; however, chipset manufacturers are working on developing 5G chipsets for other mobile devices too.

APAC to witness the highest CAGR of 5G chipset market during the forecast period

The 5G chipset market in APAC is foreseen to grow at a significant rate. The growth of the 5G chipset market in APAC is mainly driven by increasing developments (such as R&D activities, investments, and partnerships among companies) related to 5G in countries such as Japan, China, and South Korea. 5G has been launched in 9 countries, and 12 others have planned to roll out in the near future in Asia Pacific. China is one of the major countries involved in the development of 5G network infrastructure. The Chinese government has been quick off the mark in coordinating and stimulating 5G research in China.

Major players in the 5G chipset market are Qualcomm, Inc. (US), Intel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Qorvo, Inc. (US), Huawei Investment & Holding Co., Ltd. (China), Xilinx, Inc. (US), Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), Marvell Technology Group (Bermuda), Broadcom Inc. (US), Murata Manufacturing Co., Ltd. (Japan), Renesas Electronics Corporation (US), Infineon Technologies AG (Germany), Anokiwave (US), MACOM Technology Solutions Holdings Inc. (US), and Unisoc (Shanghai) Technologies Co., Ltd. (China).