Rise in Demand for Failure Analysis Market by 2025

The failure analysis market is estimated to be valued at USD 3.9 billion in 2020 and is projected to reach USD 5.9 billion by 2025; it is expected to grow at a CAGR of 8.3% from 2020 to 2025. A few key factors driving the growth of this market include imposition of safety rules & regulations by governments and international bodies, rise in demand for failure analysis from the electronics & semiconductor industry, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine.

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The Focused Ion Beam (FIB) system market is expected to grow at the highest CAGR during the forecast period. FIBs are primarily used for semiconductor manufacturing. The development of commercially focused FIBs has led to their increased applications in the field of material sciences. In addition to circuit editing and Transmission Electron Microscopy (TEM) sample preparation, FIBs can now be used for microstructural analysis and prototyping nanomachining. The fastest growth of this segment can be attributed to the growing adoption of FIB systems in material science and bioscience applications.

The failure analysis market for Focused Ion Beam(FIB) technology is expected to grow at the highest CAGR during the forecast period. Exponential growth has been observed in research activities related to material science across the globe. Research activities require sophisticated analytical tools to analyze and understand new materials that possess prominent physical properties. FIB technology offers both analytical and patterning capabilities in a single instrument.

The failure analysis market for material science application is expected to grow at the highest CAGR during the forecast period. This is due to the high adoption of failure analysis equipment for material science applications. In material science, Focused Ion Beam (FIB) systems and dual beam systems are used as a sample preparation tool and a microscope for micro- and nanosectioning processes, site-specific transmission electronics microscope(TEM) sample preparation, deposition, and polishing of materials as well as their manipulation.Microscopes are used for the structural and chemical analysis of materials, including polymers, metals, alloys, ceramics, and biomaterials.Optical microscopy and scanning electron microscope (SEM) are standard techniques in mineralogical and structural investigations of geological and archaeological samples.

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The failure analysis market in APAC is expected to grow at the highest CAGR during the forecast period.The rising R&D funding for microscopy research, increasing application of correlative microscopy in life science and nanotechnology research,mass production of electronic products such as smartphones, tablets, sensors, industrial equipment, wearables, and white goods in China and Taiwan is expected to accelerate the growth of the failure analysis market in the region.

The major opportunities for the growth of failure analysis market include increasing demand for failure analysis in developing countries, integration of microscopy with spectroscopy, and use of Focused Ion Beam (FIB) systems to study biological samples and biomaterials.

Industrial Ethernet Market worth $13.7 billion by 2026

According to the new market research report "Industrial Ethernet Market with COVID-19 Impact Analysis By Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics), and Region – Global Forecast to 2026", published by MarketsandMarkets™, the market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period.  Growing need for scalable, fast, reliable, and interoperable communication protocols, increasing initiatives by governments of developing countries to promote adoption of industrial automation, and growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.

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Hardware to account for the largest share of the industrial ethernet market

The hardware segment is expected to hold the largest share of the industrial ethernet market. Devices such as IP phones and PCs are connected to the internet to enable rapid communication in industries. Machine-to-machine (M2M) communication in the industrial environment helps facilitate efficient plant operations. It accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceutical, and food & beverage. However, a secure and robust network is required to protect internet-connected devices from data manipulation or theft. Such a robust application-specific network can be built using networking components. The hardware segment covers the components that are used to build specific communication networks. The components include switches, routers, gateways, power supply devices, controllers, and others.

Automotive & Transportation end-user industry accounted for the largest share of the industrial ethernet market in 2020

Automotive is one of the largest end-use industries of the industrial ethernet market and is expected to continue to dominate the market due to the growing need for advanced automation in automobile manufacturing hubs worldwide. Likewise, water level monitoring sensors, AC drives, and controllers are the crucial components of water treatment systems, and an industrial ethernet network is used to facilitate communication among these systems. The automotive industry continues to evolve at an impressive pace with the adoption of automation and connectivity. However, component manufacturers strive to address the growing need for bandwidth and cost-effectiveness. An automobile is a complex and technologically sophisticated machine. The manufacturing of cars requires advanced technological methods and processes. To improve the quality of vehicles and overall production efficiency, manufacturers invest substantial time and money in developing and improving the manufacturing process and rely heavily on technological innovations. Industrial ethernet solutions leverage the benefits of the industrial internet to connect machines, data, and people for attaining an unmatched level of information visibility and manufacturing insight. This helps accelerate production, improve quality, and lower costs.

Browse in-depth TOC on "Industrial Ethernet Market"
113 – Tables
41 – Figures
208 – Pages

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Asia Pacific to account for the largest share of the industrial ethernet market by 2026

APAC is currently the largest manufacturing hub for the automobile and electronic companies. To compete with other global players, the companies in APAC use advanced automation systems, which require highly reliable communication networks for machine-to-machine (M2M) communication in their plants. The manufacturing companies in APAC extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in APAC and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in APAC is also a factor driving the growth of the regional market. The decrease in the number of COVID-19 patients in China is slowly normalizing the manufacturing activities in the country. This, in turn, is expected to drive the growth of the industrial ethernet market in APAC. However, it is likely that this growth will not be as significant as it was estimated in the pre-COVID-19 era.

A few of the key players in the industrial ethernet market are Seimens (Germany), Rockwell Automation (US), Cisco (US), Belden (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (Sweden), SICK (Germany), Schneider Electric (France), and ABB (Switzerland).

Highest Demand in the Future for EMI Shielding Market

According to the new market research report "EMI Shielding Market by Material (EMI Shielding Tapes & Laminates, Conductive Coatings & Paints, Metal Shielding, Conductive Polymers, EMI Filters), Method (Radiation, Conduction), Industry, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the EMI shielding market is expected to be valued at USD 6.3 billion in 2019. It is expected to reach USD 8.2 billion by 2024 at a CAGR of 5.34% from 2019 to 2024.

The factors that are driving the growth of the market include ongoing demonstrations of field trials and pilot projects to develop the viability of 5G technology, stringent EMI regulations, and increasing deployment of the electronics systems in the automotive industry.

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Conductive coatings & paints to hold largest market share in global EMI shielding market

Conductive coatings & paints offer EMI shielding for non-metal surfaces such as plastics. Therefore, it is widely used in smartphones, telecom equipment, medical devices, and military devices. Copper conductive painting is widely used for high-frequency EMI shielding (>30 MHz). Nickel coatings are used in low-frequency applications. Cell phones, tablets, and other consumer electronics such as television sets, telecommunication equipment, medical devices, industrial equipment, military devices, and aerospace equipment are the major applications of conductive nickel coatings. Silver is a highly conductive metal and is used for high performance with an added cost than copper coating; hence, it is used in the most demanding application. The primary application of silver-coated copper conductive coating provides high-conductivity EMI shielding at a reasonable cost.

Automotive industry is expected to exhibit highest growth from 2019 to 2024

The fast-changing automotive manufacturing industry across the world requires EMI shielding solutions to a great extent. There is an increase in demand for electric vehicles and autonomous cars globally. Also, onboard GPS navigation systems, touchscreen infotainment systems, handsfree features, Bluetooth capabilities, and terrain management systems have increased the convenience and safety of both the driver and the traveler, but the increased use of these devices has created more challenges related to unwanted EMI. Hence, more the adoption of advanced electronics, more critical will be the need for EMI shielding in the automotive market.

APAC expected to be fastest-growing region in the EMI shielding market from 2019 and 2024

The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the said market during the forecast period is expected due to the high demand for consumer electronic products such as smartphones and home appliances. On the other hand, the Japanese market would be driven by the demand for electric and hybrid vehicles and advanced consumer electronics products.

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Major players included in the EMI shielding market are Laird (UK), Chomerics (US), PPG Industries (US), Integrated Polymer Solutions (US) and DowDuPont (US).  The other key players in this market include companies such as 3M Company (US), Kitagawa Industries (Japan), Tech-Etch (US), Schaffner (Switzerland), and Nolato (Sweden).

Drivers, Opportunities, Restraints, and Challenges of Situational Awareness Market

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

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

 

 

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

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

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

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

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

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

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

 

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

 

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

High Demand Market for Ultrasonic Testing Services during 2021-2026

The global ultrasonic testing market size is estimated to grow from USD 3.0 billion in 2021 to USD 4.2 billion by 2026, at a CAGR of 7.1% from 2021 to 2026. Ultrasonic testing techniques are used primarily in engineering industries for evaluating different properties of structures, equipment, components, and materials without causing any damage.

Ultrasonic testing is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is an important quality control tool in the manufacturing process as it allows for early detection of surface and subsurface defects in finished and work-in-progress (WIP) goods. Ultrasonic testing is used for detecting faults and structural integrity in industrial assets and public infrastructures such as factory buildings, platforms, bridges, railway lines, piping systems, and industrial machinery. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are key factors driving the ultrasonic testing market's growth. The high adoption of IoT devices and rising need to assess aging assets' health also propel the NDT and inspection market development.

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The ultrasonic technique (UT) is likely to be the largest contributor in the NDT and inspection market during the forecast period

The market for the UT (ultrasonic testing) technique is projected to largest contributor in NDT Market. It is presently the most popular NDT technique due to its ability to identify defects and accurately determine their severity. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can be used for critical applications in the oil & gas and aerospace industries, among many others.

Inspection services to account for the largest market size by 2021

Ultrasonic testing and inspection services are likely to account for the largest share of the market in 2021. Ultrasonic testing techniques' primary purpose is to inspect objects, materials, machinery, and structures for defects so that they can be rectified in a timely and cost-effective manner. After inspection services, training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential.

The Ultrasonic testing market in APAC to grow at the highest CAGR during the forecast period

Asia Pacific is likely to be the fastest-growing region in the ultrasonic testing market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. Countries in Asia Pacific are involved in the manufacturing of defense aircraft, which is expected to increase ultrasonic testing equipment and services in the defense & aerospace industry. Many infrastructural development projects are under construction and scheduled to be constructed in the region during the forecast period. The demand for automobiles is estimated to grow substantially by 2026.

Key Market Players

In 2020, the ultrasonic testing market was dominated by Baker Hughes(US), Olympus Corporation (Japan), MISTRAS Group (US), Intertek (UK), Sonatest (UK), Zetec, Inc. (US), T.D. Williamson Inc. (US), Bosello High Technology srl (Italy), Eddyfi (Canada), and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmbH (Germany), Acuren (US), and LynX Inspection (Canada).

Opportunities in the Display Driver Market in the next 5 years

The display driver market is estimated to grow from USD 7.1 billion in 2018 to USD 9.1 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. A display driver IC controls the current and voltage requirements across the display panel for it to function. The display driver receives image data from timing controller and delivers precise analog voltages or currents to create images on the display. The market is growing due to the increasing demand for OLED and flexible displays, adoption of highly priced and advanced display drivers, and growth in the automotive display market. Growth in the use of 4K and 8K televisions and availability of UHD content, and evolving role of DDICs in individual components and single integration chips also drive the growth of the market for display driver ICs.

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Display driver market to grow at highest CAGR for OLED displays during forecast period

The OLED display driver market is expected to grow rapidly during the forecast period which will eventually increase the demand for high-performance display driver ICs and subsequently drive the market toward higher growth. OLED and flexible displays are trending in the display market due to their increasing adoption in smart devices such as smartphones, wearables (smartwatch, AR/VR HMDs), and smart TV. South Korea accounts for more than 95% of total OLED display panel production, owing to which majority of OLED-based display driver demand is emerging from South Korea. With huge investments from Samsung and LG Display in OLED technology and their production expansion, South Korea is expected to dominate the market for OLED displays, in terms of size, during the forecast period.

Small devices to dominate the display driver market, in terms of size, during forecast period

Small devices account for the highest demand of display drivers. Display panels are used in several small devices such as smartphones, automotive displays, tablets, feature phones, industrial displays, small medical devices, camera, and others. Automotive displays are expected to witness positive growth in terms of shipments during the forecast period. Smartphone is one of the leading devices accounting for a majority of the global display drivers market. The market in small devices is expected to be driven by the smartphone segment during the forecast period. Smartphone display panels are produced in the range of 1.5–1.7 billion units yearly. With innovation in display technology (LTPS-LCD and OLED), the rapid adoption of flexible display panels, and the introduction of full-view displays in smartphones, demand for TDDI and COF-based display drivers is expected to increase rapidly in the next 2 years.

China to be the fastest growing market during the forecast period

A majority of display driver demand comes for LCD and OLED displays. These displays are produced in Asia Pacific, especially in countries such as China, South Korea, Japan, and Taiwan. Construction of Gen 6 and above facilities by Chinese players, with government support in terms of finance and land offerings, can have a significant impact on the global display panel market. This will increase the production of LCD and OLED displays in China and subsequently increase the demand for display drivers for a majority of the applications. The increasing adoption of OLED displays by Chinese smartphones vendors, and TV and smart wearable device manufacturers is boosting the demand for OLED display panels in the country also the favorable and cost-effective manufacturing environment in the country is facilitating the increase in the display panel production in China.

Key Market Players

Samsung Electronics Co., Ltd. (Samsung) (South Korea), Novatek Microelectronics Corp. (Novatek) (Taiwan), Synaptics Incorporated (Synaptics) (US), Himax Technologies, Inc. (Himax) (Taiwan), Silicon Works Co., Ltd. (Silicon Works) (South Korea), Raydium Semiconductor Corporation (Raydium) (Taiwan), Sitronix Technology Corporation (Sitronix) (Taiwan), FocalTech Systems Co., Ltd. (FocalTech) (Taiwan), MagnaChip Semiconductor Corporation (South Korea), MediaTek Inc. (MediaTek) (Taiwan), Fitipower Integrated Technology Inc. (Fitipower) (Taiwan), and ROHM Co., LTD. (ROHM Semiconductor) (Japan) are the leading players in display driver market.

Environmental Sensor Market is Expected to Grow at a Higher CAGR by 2023

According to the market research report "Environmental Sensor Market by Type (Temperature, Humidity, Air Quality, Water Quality, Integrated, UV, and Soil Moisture), Vertical (Government, Commercial, Industrial, Residential, Consumer, Enterprise), Location, and Geography - Global Forecast to 2023", the environmental sensor market, the overall market is estimated to be worth USD 1.37 billion in 2018 and is projected to reach USD 2.19 billion by 2023, at a CAGR of 9.9% from 2018 to 2023.

Stringent environmental regulations to reduce air pollution, increase in health and safety concerns would upsurge demand for environmental monitoring systems, and rise in air quality monitoring stations are the key factors driving the environmental sensor market.

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Environmental sensor market for integrated environmental sensors to grow at highest CAGR during forecast period

The growth of the environmental sensors market is mainly due to the shifting preference from standalone sensors and integrated sensors widely used to measure humidity, temperature, dust intensity, UV radiation, and other environmental parameters. Increasing demand for environmental sensors in consumer devices, where small size and low power consumption are important aspects to be considered, is the major factor driving the growth of the said market.

Portable environmental sensors expected to account for largest size of environmental sensor market, by location

Due to increasing environmental regulations to reduce air pollution and growing health and safety concerns would increase the demand for portable sensors that are mainly used in devices such as wrist bands, fitness bands, smartphones, and tablets. Due to the increasing use of portable sensors in a few fast-growing applications, it is expected that the market for these sensors would grow at the highest rate during the forecast period.

Consumer electronics vertical to dominate environmental sensor market during forecast period

Consumer electronics vertical is expected to dominate the environmental sensor market. Environmental sensors have a significant opportunity in the consumer electronics market. In smartphones and wearable devices, various sensors are used for environmental sensing. The growth in the consumer electronics vertical is attributed to the increasing use of environmental sensors in smartphones, tablets, and wearable devices. MEMS-based environmental sensors are being implemented in smartphones, tablets, and wearable devices.

APAC to dominate environmental sensor market during forecast period

APAC is the fastest-growing region in the environmental sensor market. This region is likely to continue to hold the largest market and expected to be the fastest-growing region in the environmental sensor market owing to factors such as the increasing use of smart devices (e.g., smartphones and smart bands) in APAC paves the way for growing penetration of environmental sensors in these smart devices. Increasing pollution levels in APAC countries is set to drive the growth of the said market. The growth for environmental sensors is also attributed to the increasing demand for these sensors in verticals such as medical and healthcare. APAC is the largest end user for HVAC equipment. Growing construction industry due to increasing population and urbanization drives the HAVC market, which, in turn, creates demand for the environmental sensors market.

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Major players in the environemntal sensor market are Bosch Sensortec (Germany), Sensirion (Switzerland), AMS AG (Austria), Omron (Japan), Honeywell International (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US), STMicroelectronics (Switzerland), IDT (US), AVTECH (US), Analog Devices (US), Apogee Instruments (US), TE Connectivity (Switzerland), NuWave Sensors (Ireland), Elichens (France), Aclima (US), and Breeze Technologies (Germany).

Significant Growth in Safety Laser Scanner Market

The report "Safety Laser Scanner Market by Product Type (Mobile Safety Laser Scanner, Stationary Safety Laser Scanner), End-User Industry (Automotive, Food & Beverages, Healthcare & Pharmaceuticals, and Consumer Goods and Electronics) – Global Forecast to 2023",overall safety laser scanner market is expected to grow from USD 304 million in 2018 to USD 406 million by 2023, at a CAGR of 5.99%.

Safety laser scanners offer a long-term cost-effective solution for use with new machine installations or for retrofitting machines, plants, or even vehicles. Therefore, small form factor, high user-friendliness, seamless integration, and high on power efficiency collectively are responsible for the overall growth of the market. The healthcare & pharmaceutical end-user industry is likely to exhibit the highest CAGR during the forecast period. Additionally, the mobile safety laser scanner market is expected to witness increased adoption.

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Healthcare & Pharmaceuticals Segment to Account for Larger Size of Safety Laser Scanner Market, Based on End-User Sector, by 2023

Lasers in the healthcare sector are used to improve patient safety and experience. Safety laser scanners are used extensively in the pharmaceutical manufacturing industry that relates largely to drug manufacturing, which is the process of industrial-scale synthesis of pharmaceutical drugs. Laser-based safety scanners play a critical role in the optimization of warehousing, packaging, and logistics operations in manufacturing facilities. For instance, safety laser scanners are used in autonomous monitoring vehicles, or movable service robots for industrial use in the pharmaceuticals sector for collision avoidance while logistics operations are being executed. These scanners are used in receiving areas and manual warehouse areas and also for transport and storage.

Safety Laser Scanner Market Expected to Grow At Higher CAGR from 2018 to 2023 because of Increasing Fatalities within Workplaces

The overall safety laser scanner market, in terms of value, is expected to grow at a CAGR between 2018 and 2023. Key factors contributing to the growth of this market include the increasing fatalities within workplaces, increased automation with the adoption of Industry 4.0, and growing concerns for the safety of machines and workers on the production floor. Moreover, the adoption of AGVs and AGCs across end-user industries such as automotive, healthcare & pharmaceuticals, consumer goods, and electronics are major drivers of the growth of the safety laser scanner market.

APAC to hold largest size of safety laser scanner market by 2023

The market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rapid increase in the production facilities in APAC for various end-user industries such as automotive and consumer goods & electronics. Europe and North America are the next major regions that are expected to exhibit substantial growth rates in the safety laser scanner market with higher CAGR during the forecast period. Further, government policies are also in favor of increasing the number of manufacturing facilities in this region. Additionally, developing economies such as China and India dominate the consumer electronics market in APAC.

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Key players profiled in this study include Leuze Electronics GmbH (Germany), OMRON Corporation (Japan), Panasonic Corporation (Japan), Rockwell Automation  (US), SICK AG (Germany), Banner Engineering (US), Hans Turck (US), Hokuyo Automatic Co., Ltd. (Japan), IDEC Corporation (Japan), Keyence Corporation  (Japan), Pilz GmbH & Co. KG (Germany), Datalogiv SpA (Italy), Arcus Automation Private Limited(India), and ReeR SpA (Italy).

Known and Unknown Adjacencies Impacting the Smart Mirror Market

The Smart Mirror Market is expected to grow from USD 2.82 billion by 2018 to USD 4.42 billion by 2023, at a CAGR of 9.41% from 2018 to 2023.

The growth of the smart mirror market can be attributed to the increasing demand for smart mirrors in the automotive industry, the transition from traditional stores to digital stores in the retail industry, the presence of a large number of start-ups in the smart mirror market, and new and innovative features of smart mirrors.

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Automotive application to hold largest size of smart mirror market by 2018

The smart mirror market is segmented on the basis of application into automotive, hospitality and retail, and others; others include smart homes and healthcare applications. The automotive application is expected to hold a major share of the smart mirror market by 2018. Smart mirrors are widely used in cars and light commercial vehicles. The smart mirrors used in automotive applications include auto-dimming mirrors and connected mirrors, with functionalities such as temperature display, Bluetooth and hands-free connectivity, navigation, turn signals, and microphone. The wide adoption of auto-dimming mirrors owing to such capabilities is a major factor contributing to the largest share of the automotive application in the smart mirror market.

Automotive smart mirror market for exterior mirror to grow at higher CAGR during 2018–2023

Exterior mirrors, or outer rear-view mirrors, are mounted on the outer body of the vehicle to get rear-view images of the traffic on both sides of vehicles. Generally, the passenger cars are installed with 2 outer mirrors one on each side of the vehicle. The major manufacturers of the exterior smart mirrors for automotive are Gentex (US), Magna (Canada), Ficosa (Spain), and Murakami Co., Ltd. (Japan). OEMs are now focusing on the addition of more features to outer mirrors, as they plan to integrate the capabilities for advanced driver assistance systems (ADAS), such as blind spot indicator and lane departure warning indicator, along with park assist.

Market for software component to grow at highest CAGR from 2018 to 2023

Software is an essential part of any smart mirror used in hospitality and retail, and healthcare and smart home applications. The software is used to display any information on the mirror screen. The information to be displayed varies according to the use of the mirror. The data required for displaying this information is sourced from various data sources. The predicted highest growth of the market for software for the said applications is attributed to the large adoption of AR-based mirrors in the hospitality and retail sectors. The advancement of the features such as 3D modeling is likely to result in the higher growth of the market for software during the forecast period.

Europe to hold largest share of automotive smart mirror market by 2018

Europe is the largest market for automotive smart mirrors. Europe is home to major automobile manufacturers such as Volkswagen (Germany), BMW (Germany), and Daimler (Germany), which are expected to create significant demand for auto-dimming smart mirrors. The region is also known for its stringent safety regulations and advanced technologies. The automotive OEMs in Europe are focused on developing new technologies to meet the increased demand for advanced features and increasingly stringent safety norms.

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Major players in the smart mirror market are Gentex (US), Magna (Canada), Electric Mirror (US), Seura (US), Murakami Kaimeido (Japan), Ficosa (Spain), ALKE (Belgium), Ad Notam (Germany), Dension (Hungary), and Keonn (Spain).

Consumer IoT Market to grow at fastest CAGR during forecast period

The growth of the consumer IoT market can be attributed to the growing number of internet users and adoption of smart devices, increasing awareness about fitness and rise in disposable incomes in developing economies, consumer preference for increased convenience and better lifestyle, increasing significance of home monitoring from remote locations, and government regulations for security of IoT devices.

Consumer Internet of Things is the network of consumer devices used in various end-applications, such as smart homes, healthcare, and consumer electronics. The consumer IoT market is estimated to be valued USD 46.8 billion by 2018 and is projected to reach USD 104.4 billion by 2023, at a CAGR of 17.39% during 2018–2023.

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The consumer IoT market is witnessing much technological advancement. The companies’ emphasis on launching comprehensive IoT solutions for their customers is likely to drive the consumer IoT market. For example, in February 2018, Qualcomm Technologies announced IoT development kits based on the QCA4020 and QCA4024 SoCs. The kits are designed for IoT applications such as smart cities, toys, home control and automation, appliances, networking, and home entertainment. The kits provide interoperability among diverse IoT devices including popular wireless standards, protocols and communication frameworks, and easy connectivity to various cloud and application services.

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

The market for home automation is expected to grow at the highest CAGR from 2018 to 2024. The increasing demand of home monitoring in remote locations as well as the growing adoption of home automation devices in applications such as security, and HVAC and energy management, among others, have been the key factors driving the growth of the consumer IoT market for home automation. Further, the rising demand among customers for better and convenient lifestyle and increased internet penetration in smart devices also contribute to market growth.

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APAC is expected to register the highest CAGR in the global consumer IoT market from 2018 to 2024. The increasing reach of internet across residential spaces, high consumer base, rapid urbanization, increasing disposable income, and improving IT infrastructure are a few of the key determinants supplementing the growth of the consumer IoT market in APAC. China, India, and Japan are making heavy investments in R&D to encourage the adoption of IoT; this would boost the demand for IoT hardware and software solutions in the future. China, as part of its 13^th 5-year plan for economic and social development (2016–2020), has been promoting the development of infrastructure, service platforms, and major applications of IoT. Additionally, many international industry giants aim to expand their footprints in India; for instance, in October 2017, Vodafone (UK) announced its plan of launching NB-IoT in the country. The company focuses on the consumer IoT space in the country as part of the growth strategy for its IoT business.

Intelligent Power Modules Accounted for the Largest Market share during 2020-2025

According to MarketsandMarkets,the intelligent power module 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 9.6% during the forecast period.  Rising focus towards renewable power sources, growing adoption of electric vehicles, and increasing reliability thtough enhanced level of monitoring are the key driving factors for the intelligent power module market.

IPMs with up to 600 V voltage rating expected to account for a largest share of the intelligent power module market by 2025. These IPM’s are widely used in consumer electronic products. These IPMs provides a compact, high performance AC motor drive in a simple and solid design. Some of the features of this type of IPM are high side IGBT Gate Driver (HVIC), Silicon On Insulator (SOI), drive circuit, high voltage level shifting, current limit for bootstrap diode, control supply under voltage locked out (UVLO). It is manufactured by all major players such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), On Semiconductor Corporation (U.S.), and Infineon Technologies AG (Germany), the key target segment of these IPMs is the consumer sector. Application areas in the consumer sector include washing machines, refrigerators, dish washers, and air conditioners.

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The IPM’s with current rating 0 to 100A are expected to hold the largest share of the intelligent power module market by 2025. IPM’s with these current rating suffices the purpose for domestic applications which comprises of daily use appliances such as washing machine, air conditioner, dish washers and others. IPM being one of the smallest modules in the electronics domain, some of the features are heat sink-less operation, motor drive-optimized fast recovery FETs and integrated bootstrap functionality. It is manufactured by all major players such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), On Semiconductor Corporation (U.S.), and Infineon Technologies AG (Germany), the key target segment of these IPMs is the consumer sector. Some of the benefits of this range of IPM are cost savings from smaller footprint and reduced PCB space, easy implementation of 2 or 3-phase motor drives w/half-bridge IPMs and half-bridge configuration enables more flexible board design w/better thermal performance.

In terms of geographic coverage, theintelligent power module market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).APAC holds the largest share of the global intelligent power module market. The market in APAC is further segmented into China, India, Japan, South Korea, and Rest of APAC. Many economically advanced countries have their manufacturing units in the developing economies of APAC, especially in China and India. The domestic markets in APAC are growing rapidly, owing to the rising per capita income of the middle-class population. APAC is the fastest-growing market for IPM, with three of the top 10 largest economies in the world–China, India, and Japan. This market presents a huge potential for the growth of IPMs in the near future. Greenfield projects related to energy generation from renewable sources are expected to provide a boost for the IPM market for the industrial vertical. Furthermore, the region is a manufacturing hub of consumer electronics products; therefore, IPMs have a large application in the consumer vertical in the region.

High Growth Demand for EMC Shielding and Test Equipment Market by 2025

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 growth of the EMC shielding and test equipmentmarket is majorly driven by surging demand for consumer electronics, increasing electromagnetic pollution, and ongoing demonstration of field trials and pilot tests to manifest the viability of 5G technology.

Conductive coatings & paints is expected to account for the largest share of the EMC shielding market in 2020, followed by conductive polymers; a similar trend is likely to continue in the near future. The integration of various electronic equipment and systems in vehicles is driving the growth of the market for conductive coatings & paints. They are widely used to provide EMC shielding in automotive applications owing to their high shielding capability and greater resistance against EMI compared to other materials.

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IT and telecommunications is expected hold the largest share in the EMC test equipment market during the forecast period. Ongoing developments in the telecom sector and the widespread demand for wireless technologies by both domestic as well as commercial end users are creating opportunities for efficient EMC shielding with prescribed standard regulations according to the countries the companies operate in. Consequently, the growing demand for EMC shielding solutions is currently driving the market for EMC test equipment for this application.

EMC shielding and test equipment market in APAC is expected to grow at the highest CAGR during 2020−2025. 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. 

Growth Opportunities in 5G Fixed Wireless Access Market

 The 5G Fixed Wireless Access Market with COVID-19 Impact Analysis is projected to grow from USD 503 million in 2020 to USD 86,669 million by 2026 it is expected to grow at a CAGR 135.9% from 2020 to 2026.

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 the near future.

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The evolution of 5G is projected to take fixed wireless access to a new level using a wide range of radio spectrum. This is expected to enable consumers to achieve major capacity gains and low-latency connectivity. Thus, 5G fixed wireless access is anticipated to enhance the performance capabilities of networks and offer high-speed network coverage than existing connectivity networks.

The increasing adoption of connected devices, such as smartphones, laptops, and smart devices, in several commercial and residential applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, and live streaming, as well as in telemedicine and augmented reality, is expected to generate the demand for 5G fixed wireless access solutions to achieve extended coverage.

Services segment captures the largest market share

The services segment is projected to account major market share of the 5G fixed wireless access market in terms of value. Increased spectrum efficiency and low cost per bit are expected to strengthen the business cases of fixed wireless access and support its evolution toward 5G services. Along with network vendors bringing fixed wireless access technology, Ericsson (Sweden), Huawei Technologies Co., Ltd. (China), and Nokia (Finland) are offering fixed wireless as a last-mile broadband access solution.

5G fixed wireless access services are expected to witness an increased demand in coming years. Such services include 5G B2B private lines, which generate high average revenue per user (ARPU) and face little competition in the market at present. Despite their high service-level agreement (SLA) requirements, 5G fixed wireless access services are an attractive new market with good potential. They also eliminate the requirement of complex solution integrations and are already commercially available.

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North America to hold the largest market share in 2020

North America is estimated to account for the largest market share, in terms of value, in 2020. North America is one of the leading markets for 5G in the world in terms of research and development, network design/deployment, and the presence of the key players. In North America, the US is considered to have the most engaged user base, which is expected to grow continuously with increase new subscribers. Full-fledged 5G implementation in North America is expected to fuel the market for on-demand video services.

The proliferation of 5G networks in the region is increasing owing to the presence of key players in North America. Mimosa Networks, Inc. (US), Inc. (US), Cellular South, Inc. (C Spire) (US), TELUS Corporation (Canada), AT&T Inc. (US), and Verizon Communications Inc. (US) are a few key companies in the 5G market that are actively participating in the development of 5G fixed wireless access solutions.

Key Market Dynamics in 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.

Driver: Increasing demand for digital twins in healthcare and pharmaceutical industries due to out break of COVID-19 pandemic

With the rapid spread of the novel coronavirus, the healthcare and pharmaceutical industries are at the forefront of combating COVID-19. Digital twin plays an important role in monitoring a patient’s health, the impact of tablets, and other parameters. Some of the industry players have grabbed the opportunity to fight against the coronavirus pandemic by providing different solutions. For instance, Exactcure (France), a French start-up developing a software solution to reduce medication errors, has developed a digital twin solution to lower the impact of inaccurately dosed medication. Through this digital twin solution, the efficacy and interactions of medications in the body of a patient based on their personal characteristics, such as age, gender, and kidney status, are monitored. Besides, the industry players are increasingly investing in research and development related to new daily life changes that have occurred due to the COVID-19 pandemic. For instance, the players are trying to develop a digital twin solution to identify people who have symptoms, are infected, or have recovered with antibodies and people who have come in contact with an infected person. By using such solutions, it will be easy for state or local governments to monitor green and red zones. Such solutions can be deployed in smart cities effectively.

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Restraint:  Data security due to use of IoT and cloud platforms

The implementation of digital technologies, such as the cloud, big data, IoT, and artificial intelligence, is increasing in various facets of businesses. Digital twin involves the integration of various IoT sensors and all the digital technologies for virtualizing the physical twin. With growing connectivity arises the risk of security, compliance & data protection, and regulations.

Increasing occurrences of viruses and cyber-attacks have raised concerns regarding data security. Important information can be stolen by malicious viruses in computer systems, resulting in a major loss to the companies. Failure of IoT infrastructure providers and cloud platform providers in implementing proper security measures might lead to disruptions in the flow of information. The industries that have implemented digital twins with such platforms are prone to malware attacks that are targeted at industrial systems due to the increasing dependence on Web-based data interchange and off-the-shelf IT solutions.

Opportunity:  Implementation of digital twins in the manufacturing industry to handle several issues due to the spread of COVID-19

Due to COVID-19, the industry players are facing many challenges related to health and safety, supply chain, supplier resilience, labor shortages, and others. To reopen a business, companies have to follow all the norms implemented by governments to curb the spread of COVID-19. In the current scenario, the industry manufacturers required is real-time visibility across corporate boundaries and down to the supply and demand chain. This can be done with the help of digital twin technology. The digital twin acts as a powerful digital shadow. They gather all the interrelating data sources from an asset’s entire lifecycle as its semantically defined, data-based virtualization.

A digital twin can be used to create twins of components, assemblies, people, or an entire manufacturing plant and can be combined in multiple ways to create a solution with numerous sources of data and information. Digital twins help to extend capabilities, increase flexibility, and mitigate the risk of business failure. For instance, Rolls-Royce has implemented the digital twin-based interoperable ecosystems to deliver the next generation in customer service.

Challenge: Lack of awareness regarding cost benefit of the adoption of digital twins

Companies do not have any specific plan for the implementation of digital twins for product management and have not made any significant investments yet. As the technology is new for many companies and requires significant changes, the companies are unclear about the economic benefits, investments involved, and the cost benefits in the near future. The determination of the potential of a digital twin is considered to be very complex and diverse, which further complicates the adoption of this technology.