USD 20.64 Bn Opportunity in the Radar Sensor Market by 2023

According to the new market research report "Radar Sensor Market by Type (Imaging, and Non-Imaging), Technology, Component, Band (HF, VHF, and UHF; L, S, C, and X; Ku, K, Ka, V, and W), Range (Short-range, Mid-range, Long-range), Application, Vertical, and Geography - Global Forecast to 2023", published by MarketsandMarkets™ , the Radar Sensor Market is expected to reach USD 20.64 Billion by 2023, at a CAGR of 19.51% between 2017 and 2023. Major factors driving the growth of the radar sensor market include increasing territorial conflicts and geopolitical instabilities in Asia Pacific, the Middle East, and the Americas, and the rising demand for radar systems worldwide, as militaries seek to replace legacy systems. The market is further driven by increasing focus on safety, comfort, and assistance features in vehicles.

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The radar sensor market for automotive applications is expected to grow rapidly during the forecast period

The radar sensor market for automotive applications is expected to grow at a high rate during the forecast period. The main factors driving the growth of this market include the increasing adoption of radar sensors for various applications, increasing benefits of radar sensor as compared to other remote sensing technologies, the growing number of accidents on global basis, and comfort, safety, and assistance features offered by using radar sensors. Some of the major automotive applications that use radar sensors are blind spot detection, lane departure warning, object detection system, adaptive cruise control (ACC), and stop-&-go functionality.

The non-imaging radar sensor market to have potential growth by 2023

The market for non-imaging radar sensors is expected to grow at the highest rate during the forecast period. This is mainly because of their wide usage in most of the high-end applications such as defense, automotive, and traffic monitoring. Various applications of defense need constant tracking and analyzing, which is mostly done with the help of non-imaging radar. Additionally, the increasing military expenditure by developing countries is also an important factor to drive the overall growth of the non-imaging radar sensor market.

Radar sensor market in APAC expected to grow at the highest rate during the forecast period

Radar sensors and systems are increasingly being implemented in APAC, owing to the growing demand from automotive and military investment. Moreover, APAC is one of the potential markets for the unmanned vehicles as countries such as China, India, Japan, Australia, and South Korea among others are actively trying to strengthen the military system. The geopolitical dynamics of the region have a major role to play in the measures taken by major economies such as India and China toward the enhancement of military capabilities and strength.

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Major companies involved in the development of radar sensor such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive LLP (UK), HELLA KGaA Hueck & Co (Germany), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Lockheed Martin Corporation (US), NXP Semiconductors N.V. (The Netherlands), and Smart Microwave Sensors GmbH (Germany).

Attractive Opportunities in the Cloud Infrastructure Market

The overall cloud infrastructure market is projected to reach USD 209.66 billion by 2022 from USD 101.42 billion in 2016, growing at a CAGR of 12.9% during 2016-2022. Major drivers for market growth are increasing ICT spending and growing trend for adopting big data analytics, growing demand of organizations for agile, scalable, and cost- effective computing, and high penetration of hybrid clouds.

Banking, financial services and insurance (BFSI) is expected to hold the largest market during the forecast period

The demand for cloud infrastructure services is witnessing traction across all industries. Since cloud has become one of the key elements of IT infrastructures today, the demand for cloud related services is increasing. Enterprises require scalability and mobility, and thus, industries, such as BFSI, telecommunications & ITES and ITes, and retail adopted cloud at the early stage of cloud computing market evolution. Due to this, these industries are anticipated to account for a major share of the total cloud infrastructure market.

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The market for services is expected to register the highest CAGR during 2016-2022

Capital expenditure is one of the major reasons for organizations to increase the adoption of colocation services; these services are generally involved in setting up an entire data center space. Colocation allows companies to shift their focus from having capital-intensive data centers to predictable operating expenses are the major factors are leading to higher growth of the services market.

The market for Ethernet switches is expected to register the highest during 2016-2022

Ethernet switches are used to build a network connection between computers. Packet switching is used to receive, process, and forward data. This growth is mainly attributed to the continued infrastructure expansion by cloud service providers. Additionally, growth in this segment is primarily propelled by the expansion of the data center industry.

North America is expected to account for the largest market size during the forecast period

The large share is mainly attributed to the increasing IT capacity requirements and growing adoption of new data center technologies. The cloud infrastructure market in the US will also grow exponentially, owing to a significant number of organizations opting for cloud services to save their upfront cost of building new data centers for business continuity is the the major factor driving the market.

Key players in the cloud infrastructure market include Hewlett Packard  Enterprise Co (US), Dell Inc. (US), Cisco Systems, Inc. (US), EMC Corporation (US), IBM Corporation (US), Amazon Web Services (US), Salesforce.com (US), Alphabet Inc. (US), NetApp, Inc. (US), Intel Corporation (US), Lenovo group Limited (China), AT&T, Inc. (US), Oracle Corporation (US), Quanta Computer Inc. (Taiwan), Foxconn Technology Group (Taiwan), and Rackspace Hosting, Inc. (US).

EMC Shielding and Test Equipment Market – Fastest-Growing Market in the APAC Region

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 equipment market 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.

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EMC shielding expected to contribute the largest share to the EMC shielding and test equipment market during the forecast period

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

Radiation segment expected to lead the EMC shielding and test equipment market in 2020

The radiation segment is expected to dominate the EMC shielding market in 2020, contributing the largest share. Most electrical and electronic devices radiate electromagnetic signals. Increasing adoption of consumer electronics leads to a significant increase in electromagnetic pollution. Hence, these signals must be kept within limits to reduce the level of interference and avoid any damage to the electrical circuitry of a device and degradation in performance.

EMC shielding and test equipment market in APAC contributed the largest share in 2019

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.

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Key Market Players

The EMC shielding and test equipment players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, and acquisitions to strengthen their offerings in the market. The major players are Parker-Hannifin (US), PPG Industries (US), 3M (US), Henkel (Germany), and Keysight Technologies (US).

HVAC Controls Market in APAC to Register with the Highest Growth Rate during the Forecast Period

The HVAC controls market is projected to grow from USD 14.8 billion in 2020 to USD 24.4 billion by 2025; it is expected to grow at a CAGR of 10.5% from 2020 to 2025. Consolidating trend of smart homes, accelerated further by COVID-19 situation to boost HVAC controls market growth, boom in construction sector fueling demand for HVAC controls, the emergence of IoT-enabled HVAC systems, and need to achieve energy efficiency in buildings are among the factors driving the market for HVAC controls. The report covers the HVAC controls industry segmented into implementation type, system, component, application, and geography.

HVAC controls for residential application accounted for the second largest share of the market in 2019

The increasing awareness of energy conservation and efficiency and environmental protection has fuelled the adoption of energy-efficient HVAC controls. These solutions help in the optimum utilization of energy and maintain the most comfortable and healthy environment indoors. Favorable government regulations and tax credit facilities on the installation of HVAC systems and the growing focus of end users on reducing electricity bills have significantly contributed to the growth of the HVAC controls market for residential applications. COVID-19 has impacted the residential sector by affecting the individual economy, which will cause the market to slow down. The market is also impacted by the supply and demand disruptions in countries such as the US, Germany, China, and Australia. One of the key impacts on the HVAC controls market for the residential sector is the increased economic slowdown due to travel restrictions and reduced consumer demand due to lockdowns. The shortage of supply is expected to increase prices of HVAC control systems and related components and equipment in countries such as the US, Australia, and Germany, which are highly dependent on Chinese players for operations.

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Sensors component segment to register with the highest growth rate during the forecast period

Sensors are responsible for sensing various elements in the atmosphere and sending this information accurately to controllers, which can then be processed for taking appropriate actions. These sensors also detect if the actions taken by controllers and controlled equipment have given the desired results. The development of wireless technology and its application in IoT and smart homes are the factors fueling the market for sensors in HVAC controls.

Due to the outbreak of the COVID-19 pandemic, the expected growth of the HVAC controls market for several applications is expected to decline as the pandemic is restricting the supply and adoption of electronic devices, such as sensors and controller components, due to the severe disruptions in businesses and the global economy. The outbreak of COVID-19 has mostly impacted the industrial automation, building equipment, food & beverages, and automotive & transportation industries. With a decline in demand and an increase in economic uncertainty due to COVID-19, many companies are already delaying new machinery purchases, postponing scheduled upgrades, or canceling existing orders. The impact of COVID-19 on these industries will differ across regions, which is likely to have an adverse impact on the demand for HVAC controls.

The HVAC controls market in APAC is projected to grow at the highest CAGR during the forecast period.

APAC held the largest share of the HVAC controls market in 2019. Technological advancements and inclination toward the use of energy-efficient products fuel the growth of the HVAC controls market in APAC. The growing population in developing countries in this region, along with environmental awareness, is supporting the adoption of HVAC controls. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of HVAC controls in this region. However, the APAC market is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. Also, as the pandemic has also affected individual per capita income, the adoption of new HVAC systems in the residential segment has significantly decreased. However, this loss is expected to be recovered in the coming years with a gradual recovery of the country’s overall economy.

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Key Market Players

Honeywell International Inc (US), Johnson Controls (US), Schneider Electric (France), Siemens (Germany), Carrier Global Corporation (US), Emerson Electric (US), Trane Technologies Plc (Ireland), Lennox (US), Delta Controls (Canada), Distech Controls (Canada), KMC Controls (US), Daikin Industries (Japan), LG Electronics (South Korea), Jackson Systems (US), and OJ Electronics (Denmark) are some of the major players in the HVAC controls market.

Hygienic Pumps and Valves Market in APAC to Grow at the Highest CAGR from 2021 to 2026

The HygienicPumps and Valves Market size is expected to grow from USD 2.2 billion in 2021 to USD 2.8 billion by 2026, at a CAGR of 4.5%. The growth of this market is driven mainly by stringent government regulations for maintaining optimal hygiene level and expansion of processing industries globally.

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Single-seat Valves type hold the largest share of the hygienic pumps and valves market in 2020

The adoption of single-seat valves is increasing at a substantial rate attributed to the high adoption of these valves in process industries owing to their simple design comprising a movable disc with a uniquely designed seat to seat the port of the valve body, as well as their tight shutoff quality, which helps in reducing the leakage. These valves are designed for uninterrupted production in hygiene-critical applications. The simple design and few internal parts makes them more stable than double-seat valves.

Pharmaceutical to hold the largest CAGR of the hygienic pumps and valves market during the forecast period

The rise in the number of COVID-19 patients has increase in the demand for drugs and vaccines, which in turn, has surge the production of pharmaceuticals. Due to the outbreak of COVID-19 pandemic, various manufacturers has also expanded the pharmaceutical manufacturing plants, which have increased the adoption of fluid handling systems such as hygienic pumps and hygienic valves. Additionally, maintaining hygiene is the most critical factor for the pharmaceutical manufacturers which is also responsible for the rapid adoption of hygienic pumps and valves in the pharmaceutical plants. The use of hygienic valves and pumps in pharmaceuticals plants provides them with safety control for different media (gases, liquids, slurries, etc.).

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The hygienic pumps and valves market in APAC is expected to grow at the highest CAGR from 2021 to 2026

APAC is expected to hold the largest growth rate of the global hygienic pumps and valves market during the forecast period. The factors contributing to its robust growth include the increasing urbanization and growing dairy and pharmaceuticals industries, coupled with the rapid industrialization, in major countries such as China, India, Japan, etc. China is one of the biggest exporters of hygienic pumps and valves components. There is a high demand for hygienic pumps and valves in China due to rapid industrial growth and increasing population. The increasing demand for advanced hygienic equipment in industries such as dairy, pharmaceuticals, and processed foods in India is also fueling the adoption of hygienic pumps and valves.

Major companies operating in this hygienic pumps and valves market include ALFA LAVAL (Sweden), SPX FLOW, Inc. (US), and GEA Group Aktiengesellschaft (Germany).

APAC to Capture the Largest Share of Fiber-Optic Collimating Lens Market

The Fiber Optics Collimating Lens Market size is projected to grow from USD 554 million in 2021 to USD 1,081 million by 2026; it is expected to grow at a CAGR of 13.3% from 2021 to 2026.

The demand for 5G networks and their applications, such as cloud-based networking, gaming, video streaming, etc., is increasing in the telecom and networking industries. The increased demand for high-speed internet with proper connectivity can be assured by fiber optics and its components, such as collimating lenses. Growing demand for high-speed internet will act as a foundation for more internet connections, which is likely to boost the demand for more advanced internet infrastructure, which includes cables, connectors, fiber-optic collimating lenses, and other several components. Digital transformation is influencing almost every industry, with volumes of data growing rapidly. Intelligent networking of machines and sensors requires data to be transmitted for analysis and control purposes within a specific radius, which can be fulfilled by a 5G-enabled network.

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According to Ookla, LLC (US), the number of 5G deployments and 5G operators worldwide reached 18,731 and 157, respectively, in 2020. As per MarketsandMarkets™, there would be 250 million 5G subscriptions by the end of 2021 and 2.9 billion by 2026. Despite the unexpected events of 2020, 5G deployment and adoption kept increasing. Also, the 5G ecosystem is broadening with the accelerated pace of 5G during 2020 with the deployment of many 5G networks and 5G-enabled devices. 5G adoption is growing in momentum in both domains – networks and devices – with over 150 5G devices launched commercially in 2020. Thus, the rising demand for 5G networks is one of the major drivers for market growth.

1000–1500 NM wavelength to dominate fiber-optic collimating lens market during the forecast period

The 1000–1500 nm range is expected to hold a major share of the fiber-optic collimating lens market, and the market for the same is expected to grow at the highest CAGR during the forecast period. Fiber-optic collimating lenses with wavelength range from 1000–1500 nm have a major demand, as such lenses are widely used for various end-use applications such as spectroscopy and light & display measurement, among others.

Communication to hold the largest share of fiber-optic collimating lens market in 2021

Fiber-optic collimating lenses are used in communication, medical diagnostics & imaging, lasers and detectors, metrology, microscopy & spectroscopy, and others (display applications, cytometry, artificial intelligence, and LiDAR). The communication segment holds the largest market share owing to the increasing demand for digitalization and the growing need for being connected. The fiber-optic collimating lens market for communication was valued at USD 209.0 million in 2020 and is expected to reach USD 392.0 million by 2026; it is anticipated to grow at the highest CAGR of 11.7% during the forecast period. The growing demand for fiber in the communication application is the key driver for the growth of this segment.

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APAC to capture the largest share of fiber-optic collimating lens market

APAC is expected to hold the largest share of the fiber-optic collimating lens market during the forecast period. The fiber-optic collimating lens market in APAC was valued at USD 221.9 million in 2020 and is expected to reach USD 468.4 million by 2026; it is anticipated to grow at a CAGR of 13.7% between 2021 and 2026. Asian countries, particularly China and India, are expected to offer significant growth opportunities to the manufacturers of fiber-optic collimating lenses in the coming years.

AMS Technologies AG, IPG Photonics Corporation, Coherent, Fabrinet, Thorlabs Inc, Daheng New Epoch Technology, Inc (CDHC), Edmund Optics, FS.Com, and Gooch & Housego are the major players in this market. The report also profiles the companies such as TRIOPTICS, SCANLAB GmbH, Rochester Precision Optics, LightPath Technologies, CeramOptec, Fiberguide Industries, Inc., OZ Optics, Ltd., Avantes, and Laser Mechanisms with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Gallium Nitride Semiconductor Device Market by Device Type, Wafer Size - Global Forecast to 2026

The Gallium Nitride Semiconductor DeviceMarket is projected to reach USD 24.9 billion by 2026, at a CAGR of 5.2% between 2021 to 2026. The global GaN semiconductor device market will grow to USD 24.9 billion by 2026 (forecast year) from USD 19.4 billion in 2021 (estimated year), at a CAGR of 5.2% between 2021 to 2026. The key drivers fueling the growth of this market include the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.

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The RF semiconductor devices to register second-highest CAGR during the forecast period

The market for GaN RF semiconductors is expected to exhibit the second-highest CAGR during the forecast period. Initially developed for improvised explosive device (IED) jammers in Iraq, GaN has emerged as the technology of choice for all new microwave and millimeter-wave electronics including radar, satellite, communications, and electronic warfare. The growing need for high power in the very high frequency (VHF), ultrahigh-frequency (UHF), and microwave bands has led to the demand for devices that can supply tens to hundreds of watts at RF frequencies up to 10 GHz and beyond. This demand is expected to drive the future market growth of GaN.

The 6-inch and above GaN wafer segment to register highest CAGR during the forecast period

The 6-inch and above GaN wafer segment of the GaN semiconductor device market, by wafer size, is projected to register the higher CAGR during the forecast period. Wafers in this size range offer manufacturers the ability to increase productivity and produce a large number of devices in a single batch. This, in turn, helps to bring down the overall cost of manufacturing 6-inch wafers making them one of the most cost-effective GaN wafers available in the market. This has become one of the main reasons owing to which the companies have been developing their semiconductor devices based on GaN wafers of 6-inches and above in recent years.

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APAC is projected to hold the largest share of the GaN semiconductor device market in 2026

APAC is expected to hold the largest share of the GaN semiconductor device market in 2026. APAC has witnessed exponential growth in industrial activities in terms of the number of foundries, wafers, fabrication, assembly, testing, and packaging facilities in Asian countries such as China, Taiwan, and South Korea. The region is also witnessing an increase in the manufacturing and imports of electric vehicles along with the growing domestic consumption of these products. With the increase in the adoption of electric vehicles and the establishment of charging stations for the same in the region, the opportunities for the GaN semiconductor device market are expected to accelerate in the future.

Cree, Inc. (US), Infineon Technologies (Germany), Qorvo, Inc. (US), MACOM Technology Solutions (US), NXP Semiconductors (Netherlands), Mitsubishi Electric Corporation (Japan), Efficient Power Conversion (EPC) Corporation (US), GaN Systems (Canada), Nichia Corporation (Japan), and Epistar Corporation (Taiwan) are the key players in the global GaN semiconductor device market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, joint ventures, collaborations, agreements, and acquisitions to increase their market share.

Device-as-a-service Market Size, Trends, Analysis, Forecast to 2026

The device-as-a-service market 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. The device-as-a-service market has been witnessing significant growth over the past years, mainly owing to the rising demand for subscription-based models that help customers to convert the high cost of acquiring new technology from a capital expenditure (CapEx) to an operating expense (OpEx)  and the ability to use the latest technologies and access customized services, including device configuration, installation, data migration, on-site support, and technology recycling, increasing demand.

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The services segment in device-as-a-service market is expected to witness the highest growth during the forecast period. It consists of a collection of device lifecycle services, which include installation, deployment and integration, asset recovery services, and repair and maintenance services as per the end user’s requirements. These services offered are flexible since they can be tailored and optimized. Many OEMs offer direct services as per the contract. In addition, there are managed service providers and value added resellers (VARs) who have been partnering with different hardware manufacturers and software vendors and provide complete device-as-a-service solutions under their own brand names. Continuous support and service ensure the smooth functioning of organizations, thereby driving the growth of the device-as-a-service market for services.

In terms of device types, smartphones and peripherals devices type to witness the highest growth  during the forecast period. Device-as-a-service solutions for smartphones offer organizations the benefits of lower costs, access to recent technologies, more predictable prices, and strong enterprise security. The demand for smartphones has been flattening out over the past few years. New paradigms like device-as-a-service, where users pay subscription fees to always have the latest devices are changing things. Samsung and Apple are among the largest smartphone manufacturers and providers. Apple is one of the leading companies in the market providing device-as-a-service solutions, whereby users pay for subscriptions known as equipment installation plans (EIPs) to have the latest device. Peripherals that are provided in device-as-a-service models include expansion cards, graphics cards, image scanners, tape drives, microphones, loudspeakers, webcams, and digital cameras. Microsoft is one of the largest providers of peripherals in device-as-a-service solutions.

Based on organization size, large enterprises to grow at the highest CAGR in device-as-a-service market. Reduction in IT expenses, procurement workload, and cost of hardware deployment, and the option to acquire the latest technologies are the major factors due to which large enterprises are opting for DaaS. Device-as-a-service offers the maintenance of hardware, software, and other related services at a fixed monthly price, helping large organizations save costs. This enables predictable budget planning and cost savings at each stage of the device lifecycle. DaaS provides on-site support and offers new technologies and up-to-date software, helping organizations avoid technological obsolescence. However, large enterprises prefer using on-premises solutions as they deal with a high volume of confidential business documents, and procuring third-party solutions may make their networks prone to data leakage. This is among the major challenging factors pertaining to the adoption of DaaS among large enterprises. However, solution providers are endeavoring to provide more secure solutions; thus, the impact of this factor is expected to subside in the coming years, resulting in increased adoption of DaaS in the segment.

Based on end user, IT and telecommunications industry to grow at the highest CAGR in the device-as-a-service market. The shift to remote working and homeschooling has increased the demand for IT assets in the industry. Access to secure, reliable, and high-performance IT devices are fundamental to operations of the IT and telecommunication industries; thus, the segment generates the most significant demand for IT devices such as desktops, laptops, tablets, notebooks, and smartphones. Moreover, the demand for constant updates of software and related services is more in this industry, thus contributing towards increased demand for device-as-a-service.Further, telecommunication companies are investing more in resources and providing the highest quality of services, which is indirectly helping boost the adoption of more IT devices. 

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The device-as-a-service market in APAC is expected to grow at the highest CAGR during the forecast period. China, Japan, India, and Australia are some of the key countries driving market growth in APAC. Factors such as increased spending on enterprise IT applications and IT infrastructure along with expanding ecosystem of startups and small and medium-sized enterprises within the region is expected to drive the device-as-a-service market. Moreover, growing awareness regarding the benefits of the device-as-a-service model in the region is expected to further propel market growth in the coming years.

Key players in the device-as-a-service market are grabbing opportunities by indulging in partnerships. Besides, agreement, expansions, and acquisitions were a few of the other strategies adopted by companies in this market to strengthen their market position.

Printed Sensors Growing at Significant Rate - Global Forecast to 2022

The Printed Sensors Market is expected to reach USD 10.46 Billion by 2022, at a CAGR of 7.0% between 2016 and 2022.

The major drivers for the printed sensors market are the growing integration of printed sensors in medical wearable devices and smart packaging as well as the benefits of printed sensors over conventional sensing technology.

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Printed biosensors expected to lead the printed sensors market 

The large market share of printed biosensors is attributed to the high demand for glucose test strips which are used for diabetes monitoring and are the most matured type of printed sensors. Moreover, the rapid technological advancements, growing demand for glucose monitoring in diabetic patients, and rising demand for home-based point-of-care devices are the significant growth drivers for the printed biosensors market. In addition to this, the growing integration of biosensors in consumer electronics and environmental monitoring applications also contributes to the large market share of the printed biosensors market.

Smart packaging application in printed sensors market is expected to grow at a high rate 

Printed sensors Market play a major role in smart packaging as they help manufacturers to keep track of their inventories. They are also used to monitor temperature, humidity, and gas for sensitive products, especially food and beverages. Moreover, given the rise in the adoption of smart packaging across the globe to increase the visibility, hygiene, quality, and safety of the product, there is a demand for printed sensors.

 

Printed Sensors market in Europe held the largest market share

Europe is expected to hold the largest market share and dominate the printed sensors market owing to the funding granted by the European Union which motivates collaborations between academia and the industry by funding associated projects for the development of various printed sensors. Some of the projects funded by the European Union are Smart Integrated Miniaturized Sensor Systems (SIMS), Roll-to-Roll Paper Sensors (ROPAS) project, FlexSmell project, and 3PLAST project among others. Moreover, the major printed sensor manufacturers, such as ISORG (France), Thin Film Electronics ASA (Norway), Peratech Holdco Ltd (U.K.), and Canatu Oy (Finland) among others, based in various countries in the European region are actively involved in new product launches, acquisitions, and partnerships to expand their market reach.

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Major players in this market include Interlink Electronics, Inc. (U.S.), Thin Film Electronics ASA (Norway), ISORG (France), Peratech Holdco Ltd (U.K.), and KWJ Engineering Inc., (U.S.), GSI Technologies, LLC (U.S.), Canatu Oy (Finland), MC10, Inc. (U.S.), PolyIC GmbH & Co. KG (Germany), PST Sensors  (South Africa), and Tekscan, Inc. (U.S.).

5G Chipset Market to Witness Highest Growth in APAC Industry during 2020-2027

The 5G chipset market is expected to grow from USD 12.8 billion in 2020 to USD 67.2 billion by 2027, at a CAGR of 26.7%. The major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet and broad network coverage, increasing cellular IoT connections, and an increase in mobile data traffic. However, the high cost of the 5G chipset is expected to restrain the growth of the market.

RFIC to account for largest share of 5G chipset market during forecast period

RFIC which includes RF transceiver and RF FE segment is expected to witness highest CAGR in coming years. The mobiles devices and telecommunication infrastructure segments are expected to be the major contributors to the growth of the RFIC market. The increasing number of RF transceiver ICs in smartphones is the key factor expected to drive the growth of the 5G chipset market for RFIC. The deployment of mmWave ICs in 5G infrastructure equipment and the high bandwidth offered by mmWave technology are expected to support the market growth.

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10 to 28 nm segment to witness highest growth in 5G chipset market in coming years

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

Sub-6 GHz is attributed to hold largest market size of 5G chipset market from 2020 to 2027

5G devices operating in the Sub-6 GHz spectrum band are likely to play an important role in delivering widespread coverage and supporting multiple use cases. Companies such as Huawei and ZTE do 90% of their work in sub-6 GHz. Sub-1 GHz frequency support 5G services in urban, suburban, and rural areas and may find its role in IoT services. This spectrum is likely to help 5G services reach hard-to-reach and populated public areas. Spectrum from 1 to 6 GHz is used for coverage and capacity applications of 5G.

Automotive segment is likely to grow at the highest CAGR during the forecast period.

5G is expected to play a crucial role in the transformation of the automotive industry through the development of new applications that are difficult to develop with the current generation of cellular technologies. 5G can allow system and application developers to develop a wide range of applications; the major applications include vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network (V2N). These applications of 5G would further help in the development of other applications, such as automated driving, digital logistics, and intelligent navigation.

APAC to have highest CAGR in 5G chipset market during forecast period

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

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Key Market Players

The 5G chipset market is dominated by by a few globally established players such as Qualcomm (US), Huawei (China), Samsung Electronics (South Korea), MediaTek (Taiwan), UNISOC (China), Skyworks (US), Qorvo (US), Analog Devices (US), and Broadcom (US).

Public Safety-LTE Market - Business Opportunity to 2025

The public safety LTE market is expected to be valued at USD 5.9 billion in 2020 and is likely to reach USD 15.4 billion by 2025; it is expected to grow at a CAGR of 21.1% during the forecast period. The major drivers for the market are adoption of LTE technology to eliminate the existing interconnectivity issues between different networks, increase in demand for unmanned vehicles globally, seamless data connectivity offered by LTE technology, and the need for efficient and extensive network capacity driven by COVID-19 pandemic. The major restraint for the market is the spectrum scarcity of PS-LTE. The critical challenges include high costs of developing and maintaining LTE network infrastructures, limited adoption of LTE in public safety applications due to reliability concerns, and budget constraints for developing and maintaining PS-LTE networks. Underlying opportunities include implementation of emergency services IP networks, and adoption of LPWA connectivity technologies in LTE.

The services segment is projected to grow at the highest CAGR from 2020 to 2025.  The growth of the services segment can be attributed to the expectation that the PS-LTE services would be fully deployed in most of the regions of the world by 2020, and there would be increased revenue from these services than the PS-LTE infrastructure. Moreover, the developed PS-LTE networks in countries such as Australia, China, Qatar, the UAE, and the US are expected to proliferate the demand for managed and other professional services.

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The growth of the private LTE segment of the PS-LTE market can be attributed to the increased use of private LTE deployment model for PS-LTE networks in South Korea, Qatar, and some countries of the Middle East. Private LTE networks are capable of operating standard-based LTE networks in both licensed and unlicensed spectrum, with local service providers exercising control over them. Public safety organizations use the private LTE network deployment model to optimize it according to their requirements. Real-time streaming, device monitoring, and multimedia services are some key features offered by private LTE in public safety applications.

The emergency medical services application is expected to register the highest CAGR during the forecast period. LTE networks in emergency services lead to the sharing of real-time videos of patients that help in obtaining the vitals of patients virtually. It also enables the command centers to send the nearest responders to the locations where they are required by tracking GPS details of patients. LTE networks in emergency services provide information related to the hospital assets so that the EMS personnel can shift patients to the best-suited facilities nearby. They also provide insights into the pre-existing conditions of patients to the EMS personnel by providing them access to their medical record databases and prescribed medicines.

The protection of critical infrastructures is considered to be the most severe economic and national security challenge by the governments of both the US and Canada, thereby leading to the growth of the PS-LTE market in North America. Moreover, the deployment of new PS-LTE networks in Mexico has further supplemented the growth of the market in this region.

Implementation of Digital Twins in the Manufacturing Industry

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.