Driving Factors for Non-Volatile Memory Market Growth

The non-volatile memory market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories.

COVID-19 Impact on the Global Non-Volatile Memory Market

The COVID-19 pandemic has disrupted business activities globally. Due to the globally imposed lockdown, the consumer electronics and enterprise sector has seen a huge loss in terms of production, with major impact witnessed by the manufacturing, BFSI, and retail sectors. The lockdown has severely impacted the manufacturing companies as almost every plant has come to a halt. Many essential commodity manufacturing companies are also unable to continue with production due to the lack of workforce amidst the pandemic. Thus, there is a slight decline in the non-volatile memory market as well due to COVID-19.

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Market for emerging memories such as 3D NAND to grow at fastest CAGR during forecast period

3D NAND flash technology is one of the growing technologies in the non-volatile memory market. The market for NAND flash technology is reaching saturation as NAND flash manufacturers are adopting miniaturization to increase the storage density and to reduce cost. Nowadays, flash memory vendors are emphasizing on increasing chip density by layering NAND flash cells on top of each other. This approach is likely to reduce the production cost and boost the performance of flash memories.

3D NAND flash memory uses a new flash cell design and vertically stacks dozens of silicon layers in a single chip. This allows 3D NAND flash memory to increase storage density using a much less aggressive manufacturing process technology than the planar NAND flash memory.

Consumer electronics to hold largest share of non-volatile memory market by 2025

Consumer electronics are one of the largest application areas of nonvolatile memories. The performance requirements in consumer electronics are continuously increasing owing to rising need for high processing power and memory density while keeping the product cost more or less persistent. These memories have the capability to meet the requirements of consumer electronics equipped with advanced technologies, such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored. The increasing need for high storage density and low power consumption is driving the demand for flash memories in portable consumer electronic devices, such as mobile phones, laptops, tablets, digital cameras, and gaming devices. However, the 3D NAND memory offers miniaturized products with high storage density.

North America to account for a significant market share during forecast period

North America is among the largest producers of memory chips in the world. It is the major base for all non-volatile memory manufacturers. North America is the second-largest consumer of memory in the world after Asia Pacific. R&D support with a huge financial backing for the development and adoption of advanced technologies across industries is one of the major reasons for this consumption. The memory-integrated products in this field include smartphones, tablets, gaming consoles, digital still cameras, personal navigation devices, and MP3 players. North America is a major center for consumer electronics, especially smartphones owing to which the demand for emerging non-volatile memory is significantly large in this region.

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Key Market Players

The companies profiled in this report are Intel Corporation (US), Toshiba Corporation (Japan), SAMSUNG ELECTRONICS (South Korea), Adesto Technologies Corporation (US), Viking Technology (Taiwan), Crossbar Inc. (US), Kilopass Technology (US), Sidense Corporation (Canada), Sandisk Corporation (US) and Micron Technology (US) And many others.

Growing Trends of Occupancy Sensor Market

The occupancy sensor market is projected to reach USD 3.6 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 13.3% during the forecast period. 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 2019. 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.

Increasing Demand of Intelligent Power Module from Consumer Electronics Sector

The intelligent power module market was valued at USD 1.6 billion in 2020 and is projected to reach USD 2.7 billion by 2025. It is expected to grow at a CAGR of 12.2% during the forecast period. Growing focus of worldwide governments on generating power using renewable sources, rising adoption of electric vehicles globally, increasing use of IPMs to improve system reliability and performance, and surging utilization of IPMs in the personal computing applications owing to their compact design and increased energy efficiency are the key driving factors for the intelligent power module market.

IPM with current rating up to 100 A to account for a largest share of the intelligent power module market by 2025

IPMs with a current rating of up to 100 A suffice the purpose of domestic applications, which comprise daily use appliances such as washing machines, air conditioners, and dishwashers. Such IPMs are manufactured by all major players, such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), ON Semiconductor Corporation (US), and Infineon Technologies AG (Germany). The key target segment of these IPMs is the consumer electronics sector. Some of the benefits of these IPMs are the cost savings from a smaller footprint and reduced PCB space. Easy implementation of 2- or 3-phase motor drives with half-bridge IPMs and half-bridge configuration enables a more flexible board design with better thermal performance.

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IGBT intelligent power modules accounted for the largest market share in 2019

IGBT-based IPMs combine the advantages of low-loss, high-speed IGBTs with protection circuitry and optimized gate drive. The switching time of IGBT IPM is faster than bipolar transistors but slower than that of MOSFETs. These IPMs continuously monitor the power device current by using IGBT chips with advanced current sensing capabilities. The gate (base) drive circuit is simple. The modules also provide undervoltage lockout protection and overtemperature protection. IGBT-based IPM modules are available across all the current and voltage rating categories. Manufactured by all the key players in the market, IGBT-based IPMs have seen continuous improvements in packaging, power chip, and control chip technology. IPMs using 600 V IGBTs are used in consumer and industrial applications for driving fans, pumps, and compressors.

Industrial vertical accounted for the largest market share in 2019

Industrial is among the key verticals for the IPM market. In 2019, this vertical held ~46% share of the overall market. The industrial segment comprises industrial manufacturing, process industries, and energy & power industry. Industrial devices, such as pumps, conveyors, compressors, cranes, winders, extruders, and rollers, use powered modules for controlling and protecting the circuitry. Processes such as electroplating, electrolysis, welding, lighting, induction heating, and other industrial operations employ power modules to use electric power efficiently and safely. The ease of manufacturing has led to the availability of these devices in a vast range of current ratings and high voltage ratings. IPMs control almost all the motors employed in rolling mills, textile mills, and cement mills.

APAC to account for the largest market share during the forecast period

APAC is expected to hold the largest share of the intelligent power module market in 2020. China is the world’s largest producer and end user of consumer electronics devices, such as smartphones, tablets, and home appliances. The increasing need for power management in consumer electronics products is fueling the demand for intelligent power modules in the consumer electronics vertical.

Industrial automation and the need for efficient use of power for various industrial applications are further driving the demand for power electronics devices in the industrial vertical. Renewable energy generation is one of the key revenue pockets for the intelligent power market in APAC. Governments in multiple countries of the region are motivating the shift toward renewable energy generation, mainly photovoltaics or solar, through offers and subsidies.

Key Market Players

Include Mitsubhishi Electric (Japan), ON Semiconductor (US), Infineon Technologies (Germany), Fuji Electric (Japan), and Semikron (Germany), are among the major players in the intelligent power module market.

Huge Opportunity for Inductor Market Growth in the Next Five Years

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

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Fixed inductor market is fastest-growing market

 

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

 

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

 

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

 

Automotive is fastest-growing vertical in inductor

 

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

 

 

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APAC to hold largest share of inductor market in 2025

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

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

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

Growth Opportunity for Silicon on Insulator Market

The global Silicon OnInsulator (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.

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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.

Major Key Trends in the Warehouse Management Systems

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.

The growth of this 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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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).

Witnessing Significant Growth in RTLS for Healthcare Market

 According to the new market research report - Real-Time Location Systems Market for healthcare with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE, IR, Ultrasound, Others), Facility Type, Application, Geography -Global Forecast to 2025.

The RTLS market for healthcare is expected to grow from USD 1.4 billion in 2020 to USD 3.9 billion by 2025; it is expected to grow at a CAGR of 23.0% from 2020to 2025. The RTLS market for healthcare has been witnessing significant growth over the past years, mainly owing to the high adoption of RTLS solutions in hospitals and growing adoption in emerging use cases. However, the COVID-19 outbreak is likely to result in a decline in the growth rate of the RTLS market for healthcare, especially in 2020 and 2021. This is mainly because COVID-19 has led to healthcare organizations dedicating a major part of their funds toward the procurement of medical equipment and other resources required to combat COVID-19. As RTLS solutions do not fall under the essential resources category required for COVID-19 treatment, this factor is expected to hinder the penetration rate of RTLS technology in the short run. Additionally, COVID-19 has also disrupted the supply chain of the RTLS market for healthcare, which is hindering the manufacturing, distribution, and installation of RTLS solutions.

Browse over 138 tables, 70 figures/charts, and an in-depth TOC on the RTLS market for healthcare report.

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Hospitals and healthcare facilities to hold the largest share of the RTLS market for healthcare, by facility type,in 2020

Hospitals and healthcare facilities expected to account for largest share of RTLS market for healthcare in 2020, and continue to dominate the RTLS market for healthcare during the forecast period. There has been a high demand for RTLS solutions from hospitals in the US and European countries to enhance their operations, optimize resource utilization, and increase profitability. Also, there is an increasing demand for RTLS solutions from developing regions such as China, Japan, and India. The outbreak of COVID-19 has also led to a rise in awareness for RTLS solutions and the development of new products, which is also expected to positively impact the market in the long run.

The market for inventory/asset tracking and management segment to witness significant growth during the forecast period

Among all applications, the inventory/asset tracking and management application is likely to continue to account for the largest market size during the forecast period. The market for the same is also expected to witness significant growth during the forecast period. RTLS technologies are predominantly used in the asset and inventory tracking and management applications in healthcare facilities to better utilize the available resources and time during operations.

North America to hold the largest share of RTLS market for healthcare by 2020

North America is expected to hold the largest share of the RTLS market for healthcare by 2020. Many hospitals and senior living facilities in North America, especially in the US, are using RTLS solutions for various applications. To increase profitability, healthcare organizations, especially in the US, are adopting various tools and systems such as RTLS solutions that can increase their staff productivity and perform optimum asset utilization. Additionally, several companies offering RTLS solutions have their presence in this region, which further adds to the growth of the RTLS market for healthcare in North America.

A few key players operating in the RTLS market for healthcare are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), CenTrak (US), TeleTracking Technologies (US), AiRISTA (US), and Litum Technologies (Turkey).

Study Coverage

This report categorizes the RTLS market for healthcare by offering, technology,application, facility type, and geography.The report also describes the drivers, restraints, opportunities, and challenges about this market. Further, the report includes the value chain analysis of the RTLS ecosystem, technology analysis, ASP analysis, standards and regulations,patent analysis, and case study analysis.

Brief information on the research methodology for the report can be found in the report description provided on the website.

Significant Demand of Hydraulic Cylinder Market from Construction Industry

The hydraulic cylinder market size was valued at USD 13.4 billion in 2020 and is projected to reach USD 15.8 billion by 2025; it is expected to grow at a CAGR of 3.3% from 2020 to 2025. Hydraulic cylinders offer theadvantage of withstanding corrosive and abrasive environments, extreme temperatures and weatherchanges, and can be used continuously on a long run. These is expected to increase their preference in various end-use industries such as construction, mining, oil & gas, and automotive.

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Several companies in the hydraulic cylinder market are continuously investing in R&D activities to developbetter and upgraded hydraulic cylinders, which would offer better solutions to their clients. Owing to thehigh competitiveness of the hydraulic cylinder market, companies need to upgrade their productsperiodically. The development of smart hydraulic cylinders is one of the key innovations in the market.

The double-acting hydraulic cylinder market is expected to grow at the highest CAGR from 2020 to 2025. This type of cylinders can be used vertically as well as horizontally as they have the mechanism to help the piston to expand and retract each time it pushes or needs to pull an object. Double-acting hydraulic cylinders have a higher demand in mobile applications such as forklifts, earth moving equipment, lifting equipment, and heavy trucks. However, the outbreak of COVID-19 pandemic has affected the prominent players in the industry.The foreseeable decline in the growth of end-user industries such as construction, automotive, and mining may have a considerable direct impact on the hydraulic cylinder market in FY20.

The hydraulic cylinder market with bore size <50 mm is estimated to grow at the highest CAGR over the forecast period. Hydraulic cylinders with bore size <50 mm have lower load-carrying capacity; hence, these cylinders are used to perform light-duty tasks, such as push-pull operations in lightweight equipment, with a maximum operating pressure of 35 to 200 bar. These hydraulic cylinders are used in lighter applications in the manufacturing industries, which do not require strong lifting capacity.

APAC is expected to be the fastest-growing hydraulic cylinder market from 2020 to 2025. Japan and Australia are the major markets for hydraulic cylinders. Countries in APAC, such as Japan and China, are home to major automotive manufacturers and suppliers that are challenged by rising labor costs and increasing lead time due to manual processes. To overcome these challenges, many companies are adopting automated and semi-automated material handling equipment. The application of hydraulic cylinders in material handling equipment ensures the growth of the market in APAC.However, due to the imposition of lockdowns across different countriesin APAC as result of COVID-19 outbreak; companies are facing severe cash flow issues. Halting or slowing down of production of automobiles, aircraft, and material handling equipment in the region has resulted in a decline in demand for hydraulic cylinders.

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Key Market Players

As of 2019, 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 hydraulic cylinder market.

Automatic Identification and Data Capture Solutions - Global Forecast to 2025

The overall Automatic Identification and Data Capture Market is expected to grow from USD 40.1 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 14.9% during 2020–2025. Key factors fueling the growth of this market include growing e-commerce industry globally; increasing use of smartphones for QR code scanning and image recognition; rising adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience to users in making small-value payments; and surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy. An increasing number of patients and deaths due to COVID-19 will force all the countries to increase their healthcare expenditure, which is expected to have a positive impact on the growth of the market for AIDC products.

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

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

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Manufacturing vertical held share of AIDC market in 2019

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

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

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

Key market players

Honeywell (US), Datalogic S.p.A. (Italy), Zebra Technologies (US), SICK AG (Germany), Cognex Corporation (US), Toshiba (Japan), Panasonic Corporation (Japan), Thales (France), and NXP Semiconductors N.V. (Netherlands) are a few major companies in the AIDC market. Organic growth strategies, such as product launches and developments, is a focus of many of the companies mentioned above.

Rapid Liquid Printing Market - Fastest-Growing Market Coming Future

The global rapid liquid printing market size is expected to grow from USD 48 million by 2023 to USD 284 million by 2027; it is projected to grow at a CAGR of 55.6% from 2023 to 2027. The key factors driving the growth of the rapid liquid printing market include fastest among all 3D printing technologies, ability to print using industrial grade materials, and ease of development of customized products. However, high initial and maintenance cost, and lack of standardization processes, material, and software are the factors restraining the growth of the rapid liquid printing market.              

The market for services offerings is expected to grow at the highest CAGR during the forecast period. The high growth market rate can be attribute to the projected increase in the demand for custom design and manufacturing. With the increasing number of companies offering 3D printing services, it is expected that several companies will adopt rapid liquid printers for manufacturing purposes.

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The rapid liquid printing market for functional part/end-use manufacturing is expected to grow at the highest CAGR during the forecast period. The market for rapid liquid printing is expected to witness a rapid growth rate. Rapid liquid printing is expected to be adopted for commercial production of end parts. A rapid liquid printer is 300 times faster than any other 3D printer. It also has the advantages of additive manufacturing over traditional manufacturing, which makes it a profitable and efficient option. The capability of rapid liquid printers to print using industrial-grade materials is expected to drive its potential growth in the adoption of this technology for the production of end parts.

The consumer products vertical expected to account for the largest share of the overall rapid liquid printing market by 2027.The growth of this segment is driven by the demand for furniture and home décor items. The rapid liquid printing technology is currently in its R&D phase; the patent for this technology is pending with the US government. Based on the current investments by various companies and collaborations of research institutes, the technology is not expected to commercialize across verticals all at once. The 3D printing market for the consumer products vertical has been growing with the rise in the adoption of desktop or personal printers. The introduction of low-cost desktop 3D printers, costing below USD 1,000, has driven the adoption of 3D printers. Many start-up companies have entered the 3D printing industry with services such as designing, prototyping, or manufacturing of customized functional products. Rapid liquid printers, once commercialized, are expected to have a high growth rate in this vertical. Owing to high-speed printing and no design barrier of structural stability, rapid liquid printers are to witness high demand.

The rapid liquid printing market is expected to register the highest CAGR in APAC. The growing demand for 3D printing technologies from automotive, aerospace & defense, utility, and healthcare verticals in APAC is expected to support the growth of rapid liquid printing in the region. The requirement to meet the demand for consumer products of the growing population in APAC, along with the ongoing industrialization in emerging economies, is expected to fuel the growth of consumer products and automotive verticals in this region. This, in turn, is expected to contribute to the growing demand for 3D printing technologies, which again translates to the growing demand for rapid liquid printing in APAC. China and Japan are expected to be major markets for rapid liquid printing in APAC. Japan is home to major automobile manufacturers and suppliers who are facing challenges of high labor costs and increased lead time taken by conventional production processes. As such, companies are adopting automated and advanced production technologies to overcome these challenges. The use of additive manufacturing technologies in these countries is expected to fuel the growth of the market for rapid liquid printing in APAC. The current pandemic of COVID-19 has severely affected almost every industry in the APAC region. China, Japan, and India are the most affected countries in this region. Disrupted supply chain, reduced demand from local and global markets, and increased concerns regarding healthcare are a few of the challenges faced by countries in the APAC region. In a positive scenario, it is expected that the market would return to its normal state by 2022. Thus, the market for rapid liquid printing is expected to commercialize and grow at a high rate from 2023 to 2027.

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The major opportunities for the growth of the rapid liquid printing market include growth in number of potential applications due to COVID-19 pandemic. The people involved in treating the patients, detecting new cases, and providing related services need protective equipment, ventilator systems, and scanners. This has created ample opportunities for companies around the world involved in 3D printing to produce these components and equipment. The use of 3D printing ensures that minimum human intervention is done while producing the goods, which is of significant importance due to the decrease in available manpower. It would also ensure optimum sanitation. Rapid liquid printing is capable of printing equipment using industrial-grade materials at the fastest pace with the maximum accuracy. Thus, it is proving to be a profitable solution for this situation.

Recent Advancements in the 3D Machine Vision Market

The 3D machine vision market was valued at USD 1.5 billion in 2020 and is projected to reach USD 2.4 billion by 2025; it is expected to grow at a CAGR of 9.4% from 2020 to 2025. The rising awareness of consumers about product quality has led to an increased demand for quality inspection and automation of end products. A growing number of companies are focusing on automation systems to reduce their production costs post-COVID-19 But due to the lockdown across countries, companies are facing severe cash flow issues and are deferring new projects related to the implementation of 3D machine vision in their factories.  

The ongoing COVID-19 pandemic has caused disruptions in economies and supply chains, thereby causing companies operating in different industries to adopt a global supply chain model. A number of manufacturing companies have halted their production, which has collaterally damaged the supply chain and negatively impacted the 3D machine vision market.

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Cameras expected to lead hardware segment for 3D machine vision market

The 3D machine vision market for hardware is expected to hold the largest share during the forecast period. The cameras segment in hardware is projected to grow at the highest CAGR from 2020 to 2025. Cameras in machine vision systems play an important role in capturing 3D images. The high demand for high-quality images and quick image processing is fueling the growth of the cameras segment of the market. The smart camera-based machine vision system is expected to grow at a faster rate during the forecast period as smart camera-based machine vision systems are cost-effective, compact, and flexible since it is easier to implement changes in these systems based on revised regulations and standards. In addition, with the advancements in smart camera technology and IoT, which can be easily be integrated with smart cameras, and the penetration of the smart camera-based machine vision systems is likely to increase in the next few years.

Positioning & Guidance to hold the highest share among Smart Camera-based applications in the 3D machine vision market during the forecast period

The smart camera-based systems segment of the 3D machine vision market for positioning & guidance is expected to grow at the highest CAGR as well as will hold the largest share from 2020 to 2025. This is because the smart camera-based 3D machine vision systems are mostly preferred by manufacturers for flexible robotic vision inspections for processor development and the round-the-clock operations. The automotive industry increasingly depends on robotic vision inspection technology.

Food & beverages in industrial vertical to grow at the fastest rate in the 3D machine vision market during the forecast period

The 3D machine vision market for food & beverages is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the use of 3D machine vision in the food industry as several companies use 3D machine vision systems for application-specific solutions in the areas of grading, sorting, portioning, processing, quality checking during processing, and packaging. The market is also expected to witness stable growth during the COVID-19 crisis owing to the increasing global demand for food and beverages. Also, the growing food production capacity and the increasing automation in the food industry in APAC are fueling the growth of the market for food & beverages in APAC.

Postal & Logistics to hold the largest market in the non-industrial vertical for  3D machine vision  market during the forecast period

The 3D machine vision market for postal and logistics will hold the largest market share in the non-industrial vertical during the forecast period. 3D machine vision-based autonomous navigation (self-localization, obstacle detection, docking) helps in providing the required flexibility and free-navigation capability in crowded environments, for inter-cell transportation logistics services. However the outbreak and spread of COVID-19 have impacted the postal and logistics activities as most of these services remained shut across the world.

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APAC held the largest market share in the 3D machine vision market between 2020 and 2025

The 3D machine vision market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fueled the need for 3D machine vision in inspection-related applications in the manufacturing fields.

Key Market Players

The key players in the ecosystem of the 3D machine vision market profiled in this report are OMRON Corporation (Japan), Keyence Corporation (Japan), Cognex Corporation (US), Basler AG (Germany), National Instruments (US), ISRA Vision AG (Germany), TKH group (Netherlands),  Stemmer Imaging (Germany), MVTec Software GmbH (Germany), and Tordivel AS (Norway).