Growth Opportunities for Smart Cards in APAC Region

The smart card market is projected to reach USD 16.9 billion by 2026 from USD 13.9 billion in 2021; it is expected to grow at a CAGR of 4.0% from 2021 to 2026. Major drivers for the growth of the market are surged demand for contactless card (tap-and-pay) payments amid COVID-19, proliferation of smart cards in healthcare, transportation, and BFSI verticals, transportation, and BFSI applications; increased penetration of smart cards in access control and personal identification applications; and easy access to e-government services and risen demand for online shopping and banking. Moreover, new mode of information security of users enabled by block chain and adoption of smart cards in populated countries of APAC act as growth opportunities for developers of smart card.

 

A dual-interface smart card is embedded with a chip that allows the card to be used in both contact and contactless transactions. Dual interface cards allow card readers to obtain the card’s identifying information through the use of a single chip. The chip component of a dual interface card is typically embedded in an outer layer of PVC, polycarbonate, or polyester. Dual interface chip cards provide greater payment processing convenience. Dual interface smart cards are likely to witness high growth in the coming years. These cards, including both contact and contactless interfaces, enable compatibility with any card reader or POS terminal. These cards are integrated with RFID technology and EMV chips and allow contactless payment. The faster payment processing nature of these cards reduces waiting time for customers in a queue.

 

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MPU Microprocessor-based smart cards have a microprocessor embedded onto the chip in addition to memory blocks. This type of card can be used for more than one function and is usually designed to enable adding, deleting, and otherwise manipulating data in memory. Features such as faster processing, large memory storage, and enhanced security have enabled microprocessor-based smart cards to penetrate conventional smart card application areas and reach newer application areas, such as NFC and M2M communications. Increasing banking frauds and rising concern towards security has led to the rapid growth of the market for microprocessor-based smart cards. As the security of customer credentials is of utmost importance in the BFSI sector, microprocessor-based smart cards are expected to witness high demand in this sector in the coming years.

 

Smart card have various vertical, which include BFSI, telecommunications, government and healthcare, transportation, education, retail and others. Among vertical, the government and healthcare segment of the smart card market is projected to grow at the highest CAGR during the forecast period. With globalization, developing economies in APAC and RoW are expected to digitize their government institutional processes to cope with rising competition. A part of this digitization process involves converting paper-based documentation into paperless or smart card-based documentation. Therefore, smart cards are being used by governments to issue identity cards to individuals, which contain all the details of individuals. The Aadhaar card scheme in India is one such example, which helps citizens easily verify their legitimacy for availing healthcare, international travel, and other government benefits.

 

Europe is the second-largest market for smart card. The region comprises economically and technologically advanced countries, such as the UK and Germany, as well as severely debt-ridden countries, such as Greece and Austria. The UK, France, and Germany are the major markets for smart cards in Europe. The increasing circulation of smart cards and terminals by card companies, such as Visa and MasterCard, has led to a growth in total spending in these countries. Europe has witnessed rapid adoption of state-owned healthcare and health insurance systems than the most developed countries across the world. The European Commission has mandated the use of cards as a replacement to E- 111 paper forms for cross-border healthcare services, which has led to the growth of the smart card market in Europe.

Ultrasonic Testing Market in APAC to Grow at the Highest CAGR during the Forecast Period

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.

 

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.

 

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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.

 

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.

 

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).

Industrial Agitator Market Size, Forecast, Top Players, Emerging Trends

The global industrial agitator market size is projected to grow from USD 2.2 billion in 2020 to USD 2.7 billion by 2025; it is expected to grow at a CAGR of 4.1% from 2020 to 2025. The growing demand for customized agitators and the increasing need for energy efficiency; flow maximization, rapid mixing, and other advancements are the major drivers for the industrial agitators market. The rising demand for high-performance mixing devices, and growing manufacturing sector and process industries are also driving the market. On the other hand, the high maintenance cost of industrial agitators is a major restraining factor for this market.

 

The portable agitator segment is projected to account for the largest size of the market during the forecast period.

Portable agitators provide high torque and a wide range of gear reduction and can handle shock loads that are greater than around 500% of their rating. The high growth of the healthcare segment across China and India is expected to drive the market’s growth further. Dynamix Agitators offer a range of portable agitators to handle shock loads, thereby attracting industries to use such agitators for mixing needs. Milton Roy (US), a manufacturer of controlled-volume metering pumps and equipment, provides the HELISEM Series of portable agitators. The series offers four distinct models. The VDA model is a motor-driven mixer available with a variety of marine impellers and mounting options. The VRP model is a gearmotor-driven mixer using a pitch blade turbine (PBT) impeller; this model offers mixing during emptying, filling, or with a variable speed drive. The FRH model is a gearmotor-driven mixer equipped with an HP2 impeller with two blades. The VRH model is a gearmotor-driven mixer equipped with an HP1 propeller with three blades. Moreover, these agitators can be used in industries such as chemicals, oil, and water treatment.

 

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The impeller segment of the industrial agitator market is projected to grow at the highest CAGR from 2020 to 2025.

As part of a mixer, impellers help solve the specific problems associated with the mixing process, making the mixing system more efficient. For each application, there is a unique impeller that lets the mixer work in balance and provides quality mixing. All impellers perform at a different level of efficiency despite being similar in design. The right impeller solves the issues related to uniformity, area of influence, shear, and solid suspension. For example, R blade propellers are used for mixing, pumping, heat transfer, and high-viscosity propulsion.

 

The top-mounted agitator segment is projected to account for the largest market share during the forecast period.

These agitators are gaining significance as they are required for multiproduct mixing where impellers are changed to match processing requirements, or when one-piece continuous shafts cannot be installed. Top-mounted agitators have the largest number of applications in the mixing process. Sulzer’s (Switzerland) Scaba top-mounted vertical agitators are used for mixing and agitating process liquids in many industries, including wastewater and industrial applications. They ensure homogenous mixing results, high process reliability, high efficiency, low operating costs, and low environmental stress.

 

APAC industrial agitators market to witness disruptions amidst COVID-19 lockdowns

Countries across North America, especially, the US are battling with the increasing number of COVID-19 cases. At the same time, the country is witnessing gradual re-opening of businesses. However, the demand for agitators has reduced in the US. Also, supply chains have been disrupted across the APAC region. As a result, many industries such as chemicals, paints & coatings, and cosmetics are expected to witness a cut in production output, thereby resulting in a decline in demand for agitators.

 

Key Market Players

Key players in the Industrial Agitator market include Ekato Group (Germany), SPX Flow, Inc. (US), Sulzer ltd. (Switzerland), Xylem Inc. (US), Philadelphia mixing Solutions, Ltd (US), Alfa Laval Inc. (Sweden), Chemineer (US) and others.

RTLS Market for Healthcare - Overview, Size, Trends, Analysis 2025

The Real-Time Location Systems Market for healthcare is expected to grow from USD 1.4 billion in 2020 to USD 3.9 billion by 2025; it is expected to grow at a CAGR of 23.0% from 2020 to 2025.

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


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Wi-Fi segment to hold the largest share of the RTLS market for healthcare, by technology, in 2020

Wi-Fi segment will lead the RTLS market for healthcare, by technology, in terms of size, in 2020. A number of RTLS vendors have been using the existing Wi-Fi infrastructure to layout RTLS solutions for the purpose of data sharing. This has resulted in the greater use of Wi-Fi technology for RTLS applications.

The market for supply chain management & operational automation/visibility segment to grow at the highest CAGR during the forecast period

The supply chain management & operational automation/visibility application segment is expected to witness the highest growth in the RTLS market for healthcare during the forecast period. RTLS technologies allow better visualization of supply chain dynamics in real-time. As healthcare companies move toward IoT, there is a demand for greater visibility to facilitate faster decision-making.

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

North America is expected to hold the largest share of the RTLS market for healthcare by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. Europe is expected to account for the second-largest share of the RTLS market for healthcare during the forecast period. The UK and Germany are significant demand-generating countries for RTLS solutions in this region.


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

APAC is the Fastest-growing Market for AI Infrastructure Market

The AI infrastructure market is expected to grow from USD 23.7 billion in 2021 to USD 79.3 billion by 2026, at a CAGR of 27.3%. Increased data traffic and need for high computing power, increasing adoption of cloud machine learning platform, increasingly large and complex dataset, rising focus on parallel computing in AI data centers, and growing number of cross-industry partnerships and collaborations —are the key factors driving the AI infrastructure market.

 

The efficient implementation of in-home health monitoring and health information access; personalized health management; and the use of treatment devices (such as better hearing aids; visual assistive devices; and physical assistive devices that include intelligent walkers) are possible with the implementation of AI-based tools. Thus, there is a growing focus on adopting AI-based technologies to support the physical, emotional, social, and mental health of the elderly population across the world. Future applications may include a combination of multiple AI technologies, such as ML, DL, and computer vision, for pose detection and learning elderly behavioral patterns.

 

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Based on the technology, the AI infrastructure market has been divided into machine learning and deep learning. In terms of value, deep learning technology is expected to account for a larger share of the AI infrastructure market by 2026. The ability of deep learning to collect and handle big data and its applications in autonomous robots, autonomous vehicles, and facial analysis is fueling its demand. These technologies are currently being implemented to develop various AI products and offer different kinds of services. AI has created significant opportunities for enterprises, cloud service providers, thereby helping many startups to provide their solutions in the AI infrastructure market.

 

On the basis of end user, the market is categorized into enterprises, government organizations, and cloud service providers. Cloud service providers are expected to account for the largest share of the AI infrastructure market, by end user, by 2026. Cloud services drive cost-saving and supporting digital business transformation. Hence, the adoption of cloud services is high in the AI infrastructure space.

 

Among all regions, APAC is expected to register the highest growth in the AI infrastructure market during the forecast period. The AI infrastructure market in APAC includes economies such as Singapore, South Korea, Japan, China, India, and Australia. APAC is the host to a few of the fastest-growing and leading industrialized economies such as China, Japan, and India in the world. It is witnessing dynamic changes in the adoption of new technologies and advancements in organizations across industries. Increasing adoption of deep learning and NLP technologies for finance, agriculture, marketing, and law applications is also driving the market in this region.

EMC Shielding and Test Equipment Market Report by Type, by Application, by Geography

According to the new market research report "EMC Shielding and Test Equipment Market with COVID-19 Impact by Type (EMC Shielding, EMC Test Equipment), Vertical (Consumer Electronics, Telecom & IT, Automotive, Healthcare, Aerospace, and Others), Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the global EMC shielding and test equipment market size was valued at USD 6.4 billion in 2020 and is projected to reach USD 8.2 billion by 2025; it is expected to grow at a CAGR of 5.2% from 2020 to 2025.

 

The key factors fueling the growth of this market include surging demand for consumer electronics, increasing electromagnetic pollutions, and ongoing demonstration of field trials and pilot tests to manifest the viability of 5G technology are instrumental in driving the growth of the EMC shielding and test equipment market.

 

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

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

 

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

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

 

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

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

 

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

Silicon on Insulator Market Valued at a CAGR of 17.2% from 2021 to 2026

The Silicon on Insulator Market is projected to reach USD 2.3 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 17.2% from 2021 to 2026.

The rising demand for 5G in mobile communications and the increasing adoption of AI and ML in consumer electronics are the major driving factors for the growth of the SOI market.

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By wafer size, the 300 mm segment is projected to hold the larger share of SOI market during the forecast period

The market for 300 mm segment is projected to hold the larger share of SOI market during the forecast period. The growth and surface preparation of bulk SOI wafers has been improved over the years. It is now possible to obtain very high-quality wafers in large diameters such as 300 mm. Also, over the past few years, there has been a tremendous increase in the use of 300 mm wafers. FD-SOI wafers, the latest addition to the SOI wafer type segment, are built with 300 mm wafers.

By wafer type, fully depleted SOI (FD-SOI) segment is projected to witness the growth at highest CAGR during the forecast period

The FD-SOI segment is expected to record the highest CAGR during the forecast period. FD-SOI wafer substrates enable ultra-low-power features, unique cost/performance tradeoff, high-reliability, and high-performance-mixed signal integration for a wide range of applications. Also known as ultra-thin or extremely thin silicon-on-insulator (ET-SOI), FD-SOI wafers are an alternative to bulk silicon as a substrate for building CMOS devices.

By technology, the smart cut segment is projected to hold the largest share of SOI market during the forecast period

The market for smart cut segment is projected to hold the largest share of SOI market during the forecast period. Smart cut technology offers several advantages, such as good homogeneity in thickness and the high quality of the transferred layer. Also, the remainder of the first wafer may be reused as a new first or second wafer. Moreover, it is a very generic and adaptable process because it can be used to obtain a wide variety of single-crystal layers on top of many different supports.

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By products, MEMS segment is projected to witness the growth at highest CAGR during the forecast period

The MEMS segment is expected to record the highest CAGR during the forecast period. MEMS structures also have high aspect ratios and highly complex 3D shapes resulting from anisotropic wet etching and wafer bonding. These create new requirements for subsequent lithography, doping, and thin-film processes.

By application, the automotive segment is projected to witness growth at the highest CAGR during the forecast period

The automotive application segment is expected to record the highest CAGR during the forecast period. SOI technology is increasingly used in the automotive industry for the development of high-performance and low-power devices. Traditional chips used in automotive applications required large space and back-based junctions to separate one device from the other. However, SOI-based chips use an insulating box in place of a junction for separation, which leads to a compact device structure. SOI wafer-based devices can operate at higher temperatures as compared to traditional devices.

By region, APAC to hold the largest share of the SOI market throughout the forecast period

APAC region hold the largest share of the SOI market throughout the forecast period. Also, the region is expected to record the highest CAGR during the forecast period. The growth of the market in APAC can be attributed to the rising demand for consumer electronics such as smartphones, tablets, laptops, and smart wearables. Moreover, the increased investments and expansions of several semiconductor foundry players and wafer manufacturers in this region are also fueling the growth of the SOI market in APAC.

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

Growth of Waterjet Cutting Machines across Industries by 2026

The waterjet cutting machine market was valued at USD 1.1 billion in 2021 and is projected to reach USD 1.5 billion by 2026; it is expected to grow at a CAGR of 6.2% from 2021 to 2026. The growth of the waterjet cutting machine market is driven by high operational excellence, rise in adoption of waterjet cutting machines across industries, and growth of the automotive industry.

Abrasive waterjet cutting machines accounted for the largest share of the waterjet cutting machine market in 2020. The abrasive waterjet cutting machines use abrasive materials in the high-pressure waterjet to cut the materials. These machines are used for cutting applications such as glass, metal, stone, and tile cutting. They are used in industries such as aerospace & defense, automotive, and textile.

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The 3D segment of the waterjet cutting machine market to grow at the highest CAGR during the forecast period. The 3D waterjet cutting machines are suitable for all manufacturing processes involving 3D cutting. The highly productive, precise waterjet cutting of 3D components has now become possible with such machines. The waterjet cutting systems are widely used in the aerospace and automotive industries, as well as in prototype development applications of various industries.

Automotive accounted for the largest share of the waterjet cutting machine market in 2020. Waterjet cutting machines are used for the interior and exterior cutting of headliners, carpets, liners, dumpers, door and instrument panels, seats, composite parts, and castings of vehicles. The use of waterjet cutting machines improves the flexibility of cutting equipment and enables ease with automation for the automotive industry, which drives the growth of the waterjet cutting machine market for this industry.

North America held the largest share of the global waterjet cutting machine market during the forecast period. The region has witnessed rapid growth in industries such as automotive, electronics, food, and aerospace. The growth in this market can be attributed to the large industrial base and high production capacity of companies in the country. The US is one of the largest automotive markets in the world and is home to several auto manufacturers, which is driving demand for waterjet cutting machines used for cutting headliners, door panels, carpets, liners, dumpers, composite parts, and castings. Additionally, industries such as aerospace & defense, and food provide good opportunities for waterjet cutting machines as they are used for cutting various materials.

EMC Testing Market in APAC Accounted for the Largest Share of Market

The EMC testing market is growing at a CAGR of 5.4% from USD 2.1 billion in 2019 to USD 2.8 billion in 2024. One of the primary reasons for this rise in demand is the increasing need for safety, owing to factors such as the standardization of electronic products globally, mandatory EMC testing of medical equipment, and increase in the brand proposition of companies.

EMC testing market for certification services to grow at highest CAGR in 2019

The EMC testing market offers services to ensure that the products adhere to quality, technical safety, and performance regulatory standards. In general, testing is carried out in laboratories and facilitates the manufacturers to improve the marketability of their products and lower the manufacturing costs in the pre-production phase. Inspection services are offered for the examination of traded goods from manufacturers to end users to ensure the goods comply with the buyer’s specifications.

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EMC testing Market for consumer appliances and electronics application to grow at highest CAGR during forecast period

Testing service providers offer testing services for wireless technologies such as Bluetooth, cellular, near-field communications (NFC), and Wi-Fi. Furthermore, any electronic device is an interconnection of different systems and components; therefore, the performance of the device is primarily dependent on these components and hence this application shares the highest CAGR during the forecast period.

EMC Testing Market in APAC to hold largest share of market in 2019

The EMC testing market in APAC held the largest market size for the industrial end-use application due to the presence of many industries that require the use of high-performance and efficient equipment working in tandem with each other. EMC testing is necessary as it helps to ensure the operation of multiple equipment without exceeding the acceptable limits of electromagnetic radiation, thereby, not affecting the performance.

Key Market Players

Key players in the EMC testing market include SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg), DEKRA (Germany), Fortive(US), and Keysight Technologies (US).

Demand for Nanorobotics Market Growing Significantly by 2023

The nanorobotics market is expected to grow from USD 4.9 billion in 2018 to USD 8.3 billion by 2023, at a CAGR of 11.1%. Factors such as increasing government support and level of investment in nanorobotics, growing advancements in molecular robots, and rising focus on nanotechnology and regenerative medicine are driving the growth of the nanorobotics market.

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Europe was among the earliest regions to recognize the potential of nanorobotics; therefore, a high level of public and private funding contributes to the high growth of nanorobotics in Europe. The market in Europe is closely followed by APAC, in terms of CAGR, thereby making it grow at the second-highest rate in the overall nanorobotics market, by region. The players in all the regions are adopting strategies of product launches, acquisitions, expansions, agreements, collaborations, and joint ventures to expand their global presence and increase their share in the nanorobotics market.

The nanorobotics market for magnetically guided type is expected to grow at the highest CAGR during the forecast period. By type, the nanorobotics market has been segmented into nanomanipulator, bio-nanorobotics, magnetically guided, and bacteria-based. This is attributed to the ease of use of magnetically guided nanorobotics systems as compared with other nanorobotic types. The market for nanomanipulator is expected to account for the largest share of the overall nanorobotics market in 2018. In nanorobotics, nanomanipulators are mainly used to manipulate atoms and molecules and were among the first nanorobotic systems to be commercially available.

By application, the nanorobotics market has been segmented into nanomedicine, biomedical, mechanical, and others, which include space and oil and gas. Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. Nanomedicine is expected to account for the largest share of the overall nanorobotics market, by application, in 2018.

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The large share of this application attributes to the large level of commercialization in the healthcare sector for drug delivery, biomaterial, in vivo imaging, in vitro diagnostic, active implants, and drug therapy. The market for mechanical applications is expected to grow at the highest CAGR during 2018–2023. Mechanical nanorobotics system, an advanced step of nanotechnology, is flexible enough to be manipulated in various ways. Also, mechanical nanorobots can be built on any type of nanorobotics systems, such as bio-nanorobotics, magnetically guided, and bacteria-based.

By region, the nanorobotics market has been classified into the Americas, Europe, APAC, and RoW. The market in Europe is expected to grow at the highest CAGR during the forecast period. The high growth of the market in this region can be attributed to the increasing aging population and rising governmental healthcare expenditure in Europe.

Current Investment Trends in the Smart Clothing Market

The overall smart clothing market is likely to grow from USD 1.6 billion in 2019 to USD 5.3 billion by 2024; it is expected to grow at a CAGR of 26.2% from 2019 to 2024. The market is driven by rising demand for monitoring bodily activities through sensors and increasing the adoption of smart clothes for various end-user industries. Growing awareness about the need for sports & fitness is expected to provide substantial growth opportunities to players in this market.

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Smart clothing market for active smart textile to hold the largest share of the market

Active smart textile holds the largest share of the smart clothing market. Active smart types have the ability to sense and react to the stimuli; this property helps in many applications in most of the end-user industries; for instance, phase-change materials are used for heat storage and transfer. This type is used to produce outfits used in sports, firefighting, defense (bulletproof jackets), and other professions. Textile products can be made more comfortable when a textile material can react to the environment. Thus, the market for active smart textiles has grown rapidly in recent years.

Smart clothing market for upper wear product growing at the highest CAGR during the forecast period

The increasing demand for upper wear, such as smart shirts, jackets, and vests, creates growth opportunities for the market. A smart shirt can provide biometric data such as heart rate, breathing rate, and muscle activity, which are utilized to optimize performance and workout plans professionally. Data is captured in real-time and is sent to all the companion app, providing insights on a range of sporty metrics, including intensity and recovery, calories burned, fatigue level, and sleep quality. Hence, the increasing use of upper wear for various end-user applications is expected to provide opportunities for the smart clothing providers during the forecast period.

Smart clothing market for sports & fitness end-user industry to grow at the highest CAGR during the forecast period

The sports & fitness end-user industry is expected to grow at a high rate for the smart clothing market. Sensors are already being used in clothing lines and innerwear, such as heart rate monitoring sports bras and heated underwear. There is an increasing demand for smart innerwear from the sport & fitness industry due to the growing use of sports bras that record running distance, breathing rates, and heart rates with the help of sensors. Hence, the market for innerwear for the sports & fitness industry is projected to witness significant growth in the coming years.

Smart Clothing Market in North America to grow at a significant rate during the forecast period

North America is expected to hold the largest share of the smart clothing market during the forecast period due to the growing demand for fitness and health tracking wearable clothes in the region. Also, North America is a major hub for technological innovation and new technologies. In North America, the increase in R&D in smart clothing, in terms of new and improved technologies, and the rising demand for improved lifestyle are the two crucial factors driving the market in this region.

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Key Market Players

Smart clothing market is dominated currently by AiQ Smart Clothing (Taiwan), Athos (US), Carre Technologies (Canada), Sensoria (US), Clothing Plus (Finland), Cityzen Sciences (France), Vulpes Electronics (Japan), DuPont (US), Wearable X (US), Applycon (Czech Republic), Toray Industries (Japan), Myontec (Finland), Myzone (US), Siren (US), and Owlet (US). A few of the significant strategies adopted by these players to compete in the market include product launches and developments, collaboration, and partnerships.

Cloud Gaming Market for Smartphones to grow at higher CAGR during forecast period

The cloud gaming market is estimated to be valued at USD 306 million in 2019 and is projected to reach USD 3,107 million by 2024, at a CAGR of 59.0%. The major driving factors considered are the commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

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Cloud Gaming Market for Game Platform Services held largest size of market in 2019

Game platform service held the largest share in cloud gaming market by offering owing to growing demand of both content and PC service. Cloud gaming allows playing PC games on nearly any device on the go, which earlier required expensive hardware. Sony’s PlayStation, Blade’s Shadow, GeForce NOW, Blacknut are some of the major companies providing gaming platform service. Launch of Google’s Stadia and Microsoft XCloud are expected to further drive the platform service market.

Cloud Gaming Market for Smartphones to grow at higher CAGR of market during forecast period

With the rapid rise in mobile gaming in the last five years, smartphones are going to gain a significant amount of market traction in the coming years. One of the perks of this technology is its cost-effectiveness. It is way too expensive to constantly upgrade the consoles and PCs to uphold the game performance. It requires extra spending for up-gradation of consoles and customization of PCs, but with cloud gaming, it requires either a laptop, a 5G device, or a smart TV. This has provided the feasibility to a new class of gamers, as it opens the possibility for more casual gaming for a fraction of the price.

Video Streaming to hold largest share of cloud gaming market in 2019

Games being streamed from powerful servers without the need to download or update any game are a major factor driving the growth of the market. Moreover, video streaming service further allows playing games anywhere and, on any platform, as long as it is connected to internet. There has also been an increase of a wide selection of high-quality games.

Casual gamers segment to have highest growth in cloud gaming market in coming years

Casual gamers are more likely to make tradeoffs for the convenience and cost-effectiveness of cloud gaming. Also, continued enhancements of 5G smartphones lead to the high speed and low latency properties creating wider adoption of cloud gaming for casual gamers.

APAC held major share of cloud gaming market in 2019

The cloud gaming market in APAC is foreseen to augment at a significant rate owing to the increasing number of 5G infrastructure development initiatives in the region. Additionally, the cost-effective nature of the cloud gaming platforms is promoting its usage across various new customer classes that vary in investing in gaming systems due to its cost.

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Key Market Players

The major players in the cloud gaming market are NVIDIA (US), Intel (US), Google (US), Microsoft (US), Amazon (US), Advanced Micro Devices (US), Sony (Japan), IBM (US), Tencent (China), and Alibaba (China).

Increasing the Adoption of Thermal Scanners in the Automotive Industry

The global thermal scanners market size is estimated to grow from USD 4.1 billion in 2020 to USD 6.2 billion by 2025, at a CAGR of 8.6%. The key factors fueling the growth of this market are the increasing demand for thermal scanners at airports for mass screening, rising expenditure from the governments worldwide in aerospace & defense sectors, growing R&D investments by companies, governments, and capital firms to develop innovative thermal scanning solutions, and increasing the adoption of thermal scanners in the automotive industry.

Thermal scanners market for un-cooled technology segment accounted for a larger share of market in 2019

The un-cooled technology segment accounted for a larger share of the thermal scanners industry in 2019. The larger share is due to several advantages, such as better penetration in weak environmental conditions including dust, fog, and smoke and fewer mobile parts, providing long operating life with low maintenance.

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The Thermal scanners market for LWIR wavelength accounted for the largest share of market in 2019

The market for LWIR wavelength accounted for the largest share of the thermal scanners industry in 2019. The growth is attributed to the increasing demand for thermal scanners operating in LWIR wavelengths in automotive, civil infrastructure, food & beverages, and medical for monitoring and inspection as well as detection and measurement applications.

The Thermal scanners market for fixed devices accounted for the largest share of thermal scanners industry in 2019

In 2019, the fixed-type segment held the largest share of the thermal scanners market. The growth of this market is attributed to the increasing adoption of thermal scanners in industrial and commercial sectors. The recent outbreak of coronavirus in China and other parts of South East Asia have caused significant demand in fixed-mounted thermal scanners at airports and other crowded areas such as train stations, factories, and commercial buildings.

The Thermal scanners market for thermography expected to grow at the highest CAGR during the forecast period

The demand for thermography is mainly for monitoring and detection purpose which is likely to grow at the highest CAGR during the forecast period. The growth is attributed to the increasing adoption of thermal scanners in commercial and industrial sectors.

Thermal scanners are used as a maintenance tool for monitoring and inspection application in various buildings, historical monuments, and industrial equipment. Furthermore, thermal scanners are majorly in demand from these sectors to monitor the structural health of buildings and equipment. Also, these scanners find massive applications in mass screening of people to detect human temperatures. With the outbreak of coronavirus, it is expected that there would be higher adoption of thermal scanners at various airports across the globe.

Thermal scanners market in Aerospace & defense sector dominated market in 2019

In 2019, the aerospace & defense vertical dominated the thermal scanners industry. The dominance is due to the capability of thermal scanner products to work in all weather conditions irrespective of the time. Also, they are used for border surveillance, law enforcement, in ship collision avoidance and guidance systems, and structural health monitoring of aircraft. Moreover, they help soldiers in identifying, locating, and targeting the enemy forces.

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Thermal scanners market in North America held a major share of market in 2019

Maintenance operators use thermal scanners for monitoring and inspection of commercial and residential buildings. North America is home to numerous historical monuments, commercial as well as residential buildings, and different process and manufacturing industries. Owing to this, North America held the major share of the thermal scanners market in 2019.

Key Market Players

FLIR Systems, Inc. (US), Fluke Corporation (US), Leonardo S.p.A. (Italy), L3HARRIS TECHNOLOGIES, INC. (US), and Opgal (Israel), are a few major companies operating in the thermal scanners market.

Increasing Demand for Semiconductor Devices during Forecast Period

The global semiconductor manufacturing equipment market was valued at USD 95.3 billion in 2021 and is projected to reach USD 175.0 billion by 2027; it is anticipated to register a CAGR of 8.5% during the forecast period. Surging demand for AI chips driven by future AI-driven workloads and applications is propelling the demand for semiconductor manufacturing equipment worldwide.

In 2021, the lithography equipment segment held the largest share of the semiconductor manufacturing equipment market, and a similar trend is likely to be observed during the forecast period. The key factors contributing to the growth of the lithography equipment segment is the globally increasing demand for semiconductor devices, which has led to the increased use of photolithography equipment. Key players in the semiconductor manufacturing equipment market are also adopting organic growth strategies to strengthen their semiconductor manufacturing equipment product portfolio.

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In 2021, the wafer testing segmentheld the largest size of the semiconductor manufacturing equipment market. The growth and the largest share of the wafer testing segment are attributed to the need of accuracy in ICs. Nowadays, ICs need to be incorporated with multiple functions, and the complex circuitry needs proper testing equipment to achieve accuracy. The increased investments in R&D and technological advancements in networking and communication devices have led to a rise in the demand for best-of-class ICs and SoCs. This demand can be fulfilled by investing in testing equipment for developing the best-quality ICs, which, in turn, would propel the growth of the wafer testing segment.

In 2021, the chemical control equipment segment held a larger share of the semiconductor manufacturing equipment market. Chemical control equipment are used widely for checking the flow and level of chemicals used in wafer fabrication, cleaning, and other processes, which has led to the largest share of this segment. Contamination control through chemical control equipment has a significant impact on yield and equipment efficiency, as these equipment provide repeated and reliable delivery of pure chemicals during the semiconductor manufacturing processes.

In 2021, memory accounted for the largest share in the semiconductor manufacturing equipment market. Remote work and education fueled demand for laptop computers, propelling the dynamic random-access memory (DRAM) industry to greater heights in early 2021. A similar trend and an increased use of memory ICs is expected in the automotive sector mainly due to the trends such as electric vehicles and autonomous vehicles, among others. Further, new memory technologies such as MRAM, PCRAM, and ReRAM are expected to replace most of the traditional technologies. This shift in the memory market has demanded a change in the dynamics of manufacturing equipment, compelling semiconductor manufacturing equipment providers to develop more efficient designs for device manufacturers.

In 2021, the semiconductor manufacturing equipment market for 3D IC manufacturing is expected to grow at the highest CAGR during the forecast period. The demand for 3D ICs is increasing as companies have been trying to increase functional integration through multi-chip modules, silicon in package, and package-on-package schemes. With the increased demand for improved functionality and miniaturization of portable devices such as cell phones, digital cameras, and laptop computers, manufacturers and IDMs are expected to opt for 3D ICs, thus bolstering the growth of this segment.

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In 2021, IDM firms segment held the largest share of the semiconductor manufacturing equipment market, as most IDM firms are tier 1 companies with a substantial spending in the R&D, some being Intel Corporation (US), Samsung (South Korea), and Texas Instruments (US). Certain strategies of these companies also aid in fostering the growth of the segment.

APAC accounted for the largest share of the semiconductor manufacturing equipment market in 2021; a similar trend is likely to continue during the forecast period. The market in APAC is driven by continuous developments in the semiconductor industry, expansion of the semiconductor manufacturing equipment companies operating in the region, and financial support for the semiconductor industry by governments of regional countries.