Ground Penetrating Radar Market Anticipated to grow at a CAGR of 7.5% by 2027

Global ground penetrating radar (GPR) market size is projected to grow from USD 315 million in 2022 to USD 453 million by 2027 at CAGR of 7.5% during the forecast period. 

 

The Major Player includes Hexagon AB (Sweden), SPX Corporation (US), Geophysical Survey Systems, Inc. (US), Guideline Geo (Sweden), and Chemring Group PLC (UK).

 

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North America accounted for the largest share of the GPR market in 2021

 

North America accounted for the largest share of the GPR market in 2021. The aging civil structures and deteriorating buildings because of harsh environmental conditions, resulting in increased maintenance, repair, and overhaul costs, would drive the demand for the market in the region. The US is optimistic about the implementation of GPR equipment in infrastructure projects. New governments are directing their expenditures toward meeting critical infrastructure requirements by implementing new advanced monitoring techniques.

 

The market for services is expected to grow at a significant CAGR during the forecast period

 

The market for services is expected to grow at a significant CAGR during the forecast period. Various services pertaining to GPR equipment include installation, calibration, maintenance, rental, and training/consulting services offered by GPR equipment manufacturers. The high ownership cost of GPR equipment and the constant requirement for innovative GPR solutions for different applications facilitate end users to procure GPR equipment on rent. Homeowners, commercial and industrial facilities, electrical contractors, plumbing contractors, general contractors, engineering business units, construction companies, and environmental companies are among the major adopters of services pertaining to GPR equipment. Training and consulting services help users operate and understand the equipment effectively and maintain safety while detecting utilities. Calibration services measure and control errors or uncertainties in the equipment measurement.

 

The market for vehicle-mounted GPR systems is expected to grow at a significant CAGR during the forecast period

 

The market for vehicle-mounted GPR systems is expected to grow at a significant CAGR during the forecast period. Vehicle-mounted GPR systems consist of GPR equipment fitted on vehicles such as trucks, cars, UAVs, tanks, and armored vehicles. This type is most commonly used for transportation infrastructure and law enforcement & military applications and consists of custom designs based on the type of application they are used for. For instance, a vehicle-mounted GPR system is used for fast and efficient monitoring of tunnel line structural conditions. Major companies providing vehicle-based GPR equipment include Guideline Geo, SPX Corporation, Geophysical Survey Systems, Inc., and Chemring Group. For instance, the RoadScan 30 offered by Geophysical Survey Systems, Inc. is an effective tool for determining the pavement layers at high speeds. RoadScan 30 can collect data densities that are not easily obtainable using other methods commonly used for pavement testing.

 

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The growing government involvement and mandates for implementing GPR in applications such as utility detection and transportation infrastructure development will help grow this market. Government mandates to facilitate communication between the owners and operators of underground facilities and the excavation teams, is driving the demand for GPR systems worldwide.

 

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Ground Penetrating Radar Market worth $453 million by 2027

Digital Scent Technology Market Size, Share, Industry Report 2022

Digital scent technology market share is expected to grow from USD 1.0 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.2%.

 

Major players in the digital scent technology market include ams AG (Austria), Smiths Detection (US), Alpha MOS SA (France), AIRSENSE Analytics GmbH (Germany),ScentSational Technologies (US).

 

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Digital scent technology market, by Hardware Device

• E-nose
• Scent Synthesizer

 

Digital scent technology market, by End-use Product

• Smartphones
• Smelling Screens
• Music and Video Games
• Explosives Detectors
• Quality Control Products
• Medical Diagnostic Products

 

Medical application to account for the largest share of digital scent technology market during forecast period

On the basis of applications, the digital scent technology market is categorized into food & beverage, military & defense, medical, marketing, environmental monitoring, entertainment, and others. The medical segment accounted for the largest market share in 2020 due to the increased adoption of digital scent technology in medical diagnosis, patient treatment selection, and metabolic disorders nutritional status. This application constitutes of the maximum developments and innovations of digital scent technology products by mostly start-ups and a few major companies. In October 2020, Koniku, a biotechnology start-up, developed robots that could sniff out COVID-19 infections faster than the conventional testing method. The technology fuses neurons with a silicon chip to create a “smell cyborg" capable of detecting scents ranging from explosives to pathogens.

 

North America in digital scent technology market is leading the market in 2020

North America held the largest share in the digital scent technology market in 2020. North America is expected to continue to dominate the market during the forecast period due to the presence of various key players in the region. The major factors which are fueling the growth of the market are rising adoption of enhanced digital services by customers, use of biosensors for early detection of diseases, strict regulatory environment with regards to indoor air quality in the US, and significant e-nose developments with respect to applications in the medical and agriculture industries.

 

E-nose segment to account for the largest share of digital scent technology market in 2020

On the basis of hardware device, the digital scent technology market is categorized into e-nose and scent synthesizer. E-nose is widely applied in various sectors, including military & defense, healthcare, and food & beverages, compared to scent synthesizers. Continuous technological advancements and the decreasing cost of e-nose are the main factors which would propel the growth of e-nose during the forecast period. In February 2020, a team of researchers from Australia developed a cheap, portable e-nose that used machine learning to quickly assess beer quality based on its aroma. The e-nose was designed to look like a small microchip and gave results with 97% accuracy.

Expected growth of the solid state relay (SSR) market for several applications during forecast period

Solid state relay market report size is projected to grow from USD 1.1 billion in 2020 to USD 1.5 billion by 2025; it is expected to grow at a CAGR of 6.6% from 2020 to 2025.

 

The major players are Crydom (US), Omron Corporation (Japan), Carlo Gavazzi (Switzerland), Vishay Intertechnology (US), Omega Engineering (US).

 

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Solid State Relay Market Report Scope:

Report Attributes	Details
Market Size Value in 2020	USD 1.1 Billion
Revenue Forecast in 2025	USD 1.5 Billion
Growth Rate	6.6%
Base Year Considered	2019
Historical Data Available for Years	2016–2025
Forecast Period	2020–2025
Segments Covered	By Mounting Type, By Output Voltage, By Current Rating, By Application, And By Region
Region Covered	APAC, Europe, North America, RoW
Market Leaders	Omron Corporation (Japan), Carlo Gavazzi (Switzerland), Fujitsu (Japan), Celduc Relais (France)
Top Companies in North America	Crydom (US), Vishay Intertechnology (US), Omega Engineering (US), Broadcom (US), Rockwell Automation (US), Anacon Electronic Sales (US)
Key Market Driver	Growing adoption of high-tech electronics and automation in consumer electronics industry
Key Market Opportunity	Expanding semiconductor industry in APAC
Largest Growing Region	Asia Pacific
Largest Market Share Segment	AC output voltage Segment
Highest CAGR Segment	Medium current rating Segment
Largest Application Market Share	Automotive & Transportation Application

 

Recent Developments

• In June 2020, Littelfuse, Inc, the parent company of IXYS Integrated Circuits Division, launched the PLA172P OptoMOS Relay, an 800 V normally open single-pole 6-pin solid state relay (SSR), which comes with guaranteed electrical parameters at 105°C ambient operating temperature..
• In February 2020, Celduc Relais launched a new range of two-phase solid state relays in okpac housing with push-in spring power terminals.
• In April 2019, Teledyne Defense Electronics launched a new website that provides a “single source” on the web for accessing its comprehensive high tech offerings for global markets. Buyers to the new Teledyne Defense Electronics website will find access to over 100 product lines including the solid state relays and other products.

Major Technologies Used for Critical Communication Market and its Impact

Critical communication market report share is expected to grow from USD 13.9 billion in 2019 to USD 19.8 billion by 2024, at a CAGR of 7.4%.

 

Advanced features of critical communication network, increase the need to modernize old equipment, and high demand for critical communication solutions from diverse industries such as public safety, transportation & medical are the major driving factors for the market’s growth during the forecast period.

 

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Critical Communication Market Key Players

Key players in the market include Motorola Solutions (US), Ericsson (Sweden), Nokia (Finland), Huawei (China), AT&T (US), Hariss (US), ZTE (China), Cobham Wireless (UK), Inmarsat (UK), Hytera (China), JVCKENWOOD Corporation (Japan), Mentura Group (Finland), Tait Communications (New Zealand), Telestra (Australia), Ascom (Switzerland), Zenitel (Belgium), Leonardo (Italy), Secure Land Communications (France), and Simoco Wireless Solutions (UK).

 

North America to hold a major share of the critical communication market during the forecast period

North America is currently leading the global critical communication industry, followed by Europe and Asia Pacific, mainly due to ongoing technological advancements and rising adoption of digital LMR products by government and commercial sectors. The US government made the interoperability standard available to ensure efficient use of LMR technology products and fast and uninterrupted communication in case of catastrophic situations, such as the September 11 attack or Hurricane Katrina. North America is considered to be the most advanced region with regard to the adoption of critical communication technology and infrastructure. The protection of critical infrastructure is considered to be the most severe economic and national security challenge by the government of these countries.

 

Hardware to dominate critical communication market during the forecast period

A few of the vital components forming a critical communications system are command and control systems, infrastructure equipment, and end-user devices. Hardware is expected to hold a larger share of the critical communication market, because of the rising demand from the ongoing as well as new deployment of critical communication networks in various end-use verticals such as public safety, transportation, utilities, mining, others. Moreover, major developments in oil and gas plants to improve their operations through intrinsically safe and highly reliable networks and concerns toward public safety and security are the key factors fueling the growth of the market.

 

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LTE technology to account for the highest demand in the critical communication market during the forecast period

LTE is the next global standard for critical communications, according to several industry representatives, consultants, and end-users. Factors such as the adoption of LTE by FirstNet by public safety organizations in the US, the inclination of the UK Home Office toward LTE, and plans of South Korea to build a nationwide LTE network for public safety are driving the development of LTE for critical communications. The requirements of public safety communications are rapidly changing, involving the adoption of broadband-based multimedia applications, remote surveillance, and robotic technologies such as unmanned aerial vehicles (UAVs). As a result, public safety agencies are replacing their narrowband public safety networks with LTE-based networks.

Device-as-a-Service Market Size, Share, Industry Analysis by 2021-2032

Device-as-a-service market report share is expected to grow from USD 50.3 billion in 2021 to USD 303.6 billion by 2026; it is expected to grow at a CAGR of 43.2% during the forecast period.

Key Market Players
Dell Technologies (US), Lenovo (China), Hewlett Packard (US), Microsoft (US), Cisco (US), CompuCom(US), 3stepIT (Finland), Telia Company (Sweden), Atea Global Services (Latvia), CHG MERIDIAN (Germany), CSi leasing (US), Computacenter (UK), Econocom (France), GreenFlex (France), GRENKE (Germany), Excellence IT (UK), Foxway (Sweden), and Apple (US) are among the key players operating in the device-as-a-service market.

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Device-as-a-Service Market Report Scope: 

Report Attributes	Details
Market Size Value in 2021	USD 50.3 Billion
Revenue Forecast in 2026	USD 303.6 Billion
Growth Rate	43.2%
Base Year Considered	2020
Historical Data Available for Years	2017–2026
Forecast Period	2021–2026
Segments Covered	Offering, Device Type, Organization Size, End User, and Region
Region Covered	APAC, Europe, North America, RoW
Market Leaders	3stepIT (Finland), Telia Company (Sweden), Atea Global Services (Latvia), CHG MERIDIAN (Germany), Computacenter (UK), Econocom (France), GreenFlex (France), GRENKE (Germany), Excellence IT (UK), Foxway (Sweden)
Top Companies in North America	Hewlett Packard (US), Lenovo (China), Dell Technologies (US), Microsoft (US), Cisco (US), CompuCom(US), CSi leasing (US)
Key Market Driver	The rapid adoption of the subscription-based services model
Key Market Opportunity	Emergence of wearable-as-a-service (WaaS) model
Largest Growing Region	North America
Largest Market Share Segment	IT and Telecommunication Segment
Highest CAGR Segment	Services Segment
Largest Application Market Share	Smartphone Application

Opportunity: Emergence of wearable-as-a-service (WaaS) model

Wearable devices such as smartwatches, VR headsets, AR glasses, and medical patches are convenient and are becoming increasingly popular among end users, including business enterprises—who are mainly trying to benefit from the mobility and interoperability that comes with wearable devices, along with the vast amount of data generated. Various companies have now started manufacturing wearable devices to promote wearables-as-a-service (WaaS) solutions. For instance, Omate is a Chinese company offering a wearable-as-a-service solution. Similarly, Arkéa, a French banking and insurance company, has launched its WaaS model that allows end users or institutions to rent wearable devices. This eliminates the need for the upfront purchase of wearable devices, which can be an additional hurdle in the sales process. Thus, some device manufacturers have adopted this approach and are developing smartwatches targeted at recreational athletes, children, and the elderly. Wearable technology is now effectively being used in government offices, healthcare organizations, insurance companies, and families for elderly care management. 

Challenge: Security and data protection risk associated with device-as-a-service

The demand for device-as-a-service has increased in many sectors, with organizations increasing their general use of cloud-based services, mainly due to security concerns. Moreover, the security budgets and number of cloud platform providers have significantly increased, and many customers are now adopting cloud wherever possible for deploying secure and resilient systems. Thus, security concerns associated with using a new service model are a major factor challenging the complete adoption of device-as-a-service. Cybersecurity and data protection hold significant importance, especially in the financial sector, as the foundation of banking lies in nurturing trust and credibility.

Silicon on Insulator (SOI) Market Report Share Growing $2.9 billion by 2027

The global Silicon on Insulator (SOI) Market size is estimated to be USD 1.4 billion in 2022 and is projected to reach 2.9 billion by 2027, at a CAGR of 15.0% during the forecast period according to a new report by MarketsandMarkets™. The growing adoption of SOI wafer-based devices in automotive applications and rising demand for 5G in mobile communications play a key role in driving the growth of SOI market in near future.

 

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Rising demand for wafers with larger diameters to drive 300 mm segment

The introduction of 300 mm SOI wafers has changed the SOI landscape. 200 mm wafers are already used in smartphones, while the increased adoption of 300 mm SOI wafers is also being observed worldwide. The 300 mm segment is expected to hold a larger share of the SOI market and record a higher CAGR. Further, increasing investment of the companies for the production capacity for 300 mm SOI wafers has also bolstered the growth of the market.

 

Automotive segment projected to grow at the highest CAGR

The SOI market for automotive applications is projected to grow at the highest CAGR during the forecast period. Market growth is attributed to initiatives by leading players in the SOI ecosystem, such as Soitec, to deploy FD-SOI and power-SOI wafer-based chips in autonomous vehicles, infotainment systems, and advanced driver-assistance systems (ADAS). Leading automotive manufacturers have also shown interest in using SOI-based chips in multiple applications and automotive networking protocols.

 

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Europe accounted for the largest share of the SOI market

Europe held the largest share of the SOI market in 2021. The continuously growing semiconductor industry in Europe is one of the prime factors for the growth of SOI. As stated by the World Economic Forum (September 2022), Europe's digital revolution is linked to the revival of the semiconductor sector, post its downfall during the pandemic. The European Union aims to expand its share of the global semiconductor sector from 9% to 30% by 2030. Evolving policy in the European Union and the US is encouraging. Furthermore, Europe's strong academic infrastructure implies that it is ideally positioned to power its digital breakthroughs with home-grown microchips.

 

Soitec (France), Shin-Etsu Chemical (Japan), GlobalWafers (Taiwan), SUMCO Corporation (Japan), Shanghai Simgui Technology (China), GlobalFoundries (US), STMicroelectronics (Switzerland), Tower Semiconductor (Israel), NXP Semiconductors (Netherlands), Murata Manufacturing (Japan), are some of the key players in the SOI market.

Battery Production Machine Market Report Revenue USD 19.4 Bn by 2027

The global battery production machine market size is projected to grow from USD 7.3 billion in 2022 to USD 19.4 billion by 2027 at CAGR of 21.5% during the forecast period according to a new report by MarketsandMarkets™. Lithium-ion batteries have gained popularity in various applications due to their advantages, such as high energy density, small size, and declining price. This has fueled the demand for battery production machines worldwide. Battery production machines include various types of machines for different processes involved in battery manufacturing, such as mixing, slitting, coating, and calendaring. The battery production processes and the machinery utilized are categorized into three main processes: electrode manufacturing, cell assembly, and cell finishing.

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The market for coating & drying machines is expected to grow at highest CAGR during the forecast period

The process of evenly applying a coat of the electrode slurry across the anode and cathode metal foils, followed by the drying process, is called coating. The continuous coating process includes electrode drying. Hence, the coating and drying processes are simultaneously carried out by the coating and drying machines. Drying involves three simultaneous processes: solvent evaporation, binder diffusion, and particle sedimentation. Air flotation is used in large-scale manufacturing to ensure consistent drying, eliminate edge curling, and leave an equal amount of residual solvent on both sides. The temperature and rate of drying could significantly alter how each component is distributed throughout the electrode. The quality of the coating and drying processes significantly impacts the uniformity, consistency, safety, and cycle life of the manufactured battery. Hence, coating is considered one of the most crucial steps of the battery manufacturing process.

The market for Lithium Iron Phosphate (LFP) batteries is expected to grow at a significant CAGR during the forecast period

Lithium iron phosphate batteries are used in high-power devices and equipment. The nano-scale phosphate cathode material in LFP offers excellent electrochemical performance combined with low resistance. LFP batteries have long life cycles, high current ratings, good thermal stability, and enhanced safety features. High charge and discharge rates improve performance and competence, making LFP batteries suitable for high-power applications such as electric vehicles and power tools. However, a major problem associated with LFP batteries is the self-discharging feature, which can create a balancing issue in a battery pack. The LFP battery is an emerging battery type for EVs due to its low cost and excellent safety features. These batteries are cheaper to produce than other chemistries, due to which new market entrants focus on LFP usage.

The market for industrial application is expected to grow at an impressive CAGR during the forecast period

The industrial sector uses lithium-ion batteries in various tools and machines, such as forklifts, automated guided vehicles (AGVs), autonomous mobile robots (AMRs), battery-operated material handling equipment, and power tools. Some key industries where these batteries are used include mining, construction, manufacturing, and warehousing. In recent years, there has been a tremendous rise in battery usage in various equipment related to the industrial sector. Lithium-ion batteries are the foremost choice for industrial equipment as they offer various benefits, such as enhanced safety, longer lifespan, and less maintenance over other chemistries.

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North America to account for a significant share of the battery production machine market in 2027

The North American battery production machine market has been segmented into the US and Canada. The governments of these countries are taking initiatives to boost the growth of the battery production market. Also, the implementation of various clean energy initiatives across the region, such as net zero emissions, the demand for clean, safe lithium-ion batteries is rising significantly, which is positively impacting the market growth. Moreover, the region is witnessing a rise in battery manufacturing plants due to the increased demand for electric vehicles, energy storage applications in various industries, and rising renewable energy generation. Major battery manufacturers are eyeing this region to set up their plants and supply their batteries to the major EV manufacturers. Several automobile companies in the region, such as Tesla Motors Inc. (US), General Motors Corp. (US), Rivian (US), and Lucid Motors (US), are actively working toward the production of electric vehicles, leading to the rapid adoption of lithium-ion batteries. The US has ample lithium deposits that can be exploited in the future to produce lithium-ion batteries. This will drive the demand for lithium-ion batteries in the region.

The major players in this market include Wuxi Lead Intelligent Equipment Co., Ltd. (China), Shenzhen Yinghe Technology Co., Ltd. (China), Hitachi, Ltd. (Japan), Schuler Group (Germany), and Durr Group (Germany) among many others.