eSIM Market Forecast, Industry Analysis & Application

The eSim market is estimated to grow from USD 253.8 Million in 2018 to USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023.

 

The growth is attributed to the emphasis on remote SIM provisioning for M2M, favourable government regulations boosting M2M communication, and high adoption of IoT technology.

 

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Smartphone application through 2023

During the projected period, the eSIM market for smartphone apps is expected to rise due to rising demand for high-bandwidth applications and rising persistent connectivity on Smartphones. To obtain a competitive advantage in the market, smartphone companies are attempting to incorporate eSIM into their offerings. In October 2017, Google LLC (US) released Pixel 2 and Pixel 2 XL variants with eSIM. Following Google, big companies like Apple Inc. (US) and Samsung (South Korea) are expected to integrate eSIM into their flagship handsets, and significant smartphone makers like Huawei Technologies Co., Ltd. (China), OPPO Electronics Corp. (China), and Xiaomi Inc. are likely to follow suit (China). 

 

Consumer Electronics vertical by 2023

ESIM makes roaming and switching simple. Furthermore, the deployment of eSIMs is projected to lower carrier replacement obstacles. This is anticipated to improve telecom provider competition, which will benefit customers. The deployment of eSIMs in the consumer electronics industry is primarily driven by the expanding usage of high-speed data transfer technologies such as 4G and 5G, increasing social engagement activities throughout the world, and continued technological breakthroughs. 

 

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North America for eSIM market by 2023

North America is a leader in the adoption of technical improvements in a variety of industries, including automotive, energy and utilities, manufacturing, retail, Consumer Electronics, and transportation and logistics. These developments are mostly geared toward producing compact and low-power goods. As a result, North America is expected to dominate the eSIM market over the forecast period. North America is also an important region for the development and advancement of M2M technologies. Some of the largest global companies serving the M2M sector are based in this region. As a result, by 2023, North America is expected to lead the eSIM market.

Wireless Data Radio Modem Market Share & Forecast to 2023

The Wireless Data Radio Modem Market is expected to grow from USD 594.4 Million in 2018 to USD 724.1 Million by 2023, at a CAGR of 4.03% between 2018 and 2023.

 

The growth of the wireless data radio modem market is driven by the growing demand for radio modems in agricultural drones and surveys, dominance of radio modems in SCADA and telemetry applications, and low operational costs and more power-efficiency of private radio networks using radio modems.

 

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General-purpose wireless data radio modems:

The long life cycle of radio modems in the enterprise, due to dedicated spectrum and longer battery life, is expected to propel the growth of the general-purpose radio modem market during the forecast period. Moreover, the demand for radio modems is increasing as these modems require minimal infrastructure for facilitating communication and ensuring the delivery of data, in the form of voice and video, in the most cost-effective and reliable manner.

 

Wireless data radio modem market for long range:

The long-range wireless radio data modem for 910 MHz/2.4 GHz is designed with unmatched radio frequency (RF) performance and for extremely robust long-range frequency hopping. It is the most robust and cost-effective means of the industry for providing embedded long-range data communications between industrial serial communication devices.

 

Wireless data radio modem market in APAC:

This report segments the market into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The growth of the wireless data radio modem market in APAC is attributed to the increasing adoption of radio modems with the development of the transportation infrastructure, and mining and utilities industries in the region. The major countries in APAC such as India and China have started recognizing ITS as a crucial tool to solve social, economic, and environmental problems caused by traffic congestion, air pollution, and increased greenhouse gas emissions.

 

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The major players in the wireless data radio modem market include SATEL OY (Finland), Motorola Solutions (US), Schneider Electric (France), Digi International (US), Pacific Crest (US), Advantech B+B SmartWorx (US), FreeWave Technologies (US), Cohda Wireless (Australia), Campbell Scientific (US), and Harris Corporation (US).

Business Opportunities in the Intelligent Power Module Market by 2027

The global intelligent power module market size is expected to grow from USD 1.8 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of 10.7%. The increasing usage of IPMs in industrial, consumer electronics and automotive verticals are the key factors boosting the growth of the market.

 

The consumer electronics and automotive vertical is expected to account for significant market share during forecast period. The consumer electronics vertical is expected to grow at a highest CAGR in intelligent power module market. The automotive vertical is the second largest contributor in the overall market size of the intelligent power module market for vertical segment. The advent of electric vehicles is likely to create opportunities for intelligent power modules in the automotive sector.

 

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The market for a 6-pack circuit configuration segment is expected to account largest market share during the forecast period.A 6-pack module is equipped with six IGBTs and six free-wheeling diodes, which usually have 600 V, 1,200 V, or 1,700 V blocking voltage capability. It is also referred to as the C type circuit configuration. IGBTs and diodes often share the same current rating. These IPMs are widely available and are manufactured by all major players, such as Fuji Electric (Japan), ON Semiconductor (US), and Infineon Technologies (Germany). Such IPMs are used in consumer and light-duty industrial applications, such as washing machines, fans, air purifiers, pumps, and kitchen hoods

 

Asia Pacific is expected to hold the largest share of the intelligent power module market in 2022. China is the world’s largest producer and end user of consumer electronics, such as smartphones, tablets, and home appliances. The region can be considered a global hub for consumer electronics due to the presence of several significant players, such as LG Electronics, Sony, Panasonic, and Samsung, in China, Japan, and South Korea. The rising production of consumer electronics in the region is expected to create significant opportunities for the providers of intelligent power modules in the region. The increasing need for power management in consumer electronics products is fueling the demand for intelligent power modules in the consumer electronics vertical. Consumer electronics, automotive, and energy are among a few key industries in Asia Pacific region.

Ground Penetrating Radar Market Size, Share, Industry Analysis 2027

The global ground penetrating radar market size is anticipated to grow from USD 315 million in 2022 to USD 453 million by 2027, at a CAGR of 7.5% from 2022 to 2027.

 

Traditional methods and technologies of exploration, such as drilling and coring, only provide information related to a few specific spots of the subsurface. Furthermore, to obtain any important data, engineers and surveyors required samples from multiple locations of a project site, which are generally spread over a wide area. Hence these methods are costly and time-consuming. Moreover, in many cases, traditional methods do not provide accurate data. However, GPR provides data with superior quality in a fraction of the time, without breaking the surface. Hence the use of GPRs over other traditional methods will drive the growth of this market.

 

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Equipment accounted for a major share of the GPR market in 2021. The rising adoption of GPR equipment to avoid damage to underground assets and increasing demand from water and sewage, oil & gas, and construction industries, among many others, contribute to the larger share of this segment. A GPR equipment/system consists of three main components: control units, antennas, and power supplies. The control unit contains the electronics that trigger the pulse of radar energy that the antenna sends into the ground. The antenna receives the electrical pulse produced by the control unit, amplifies it, and transmits it into the ground or other media at a particular frequency. GPR equipment can be run with a variety of power supply ranges, from small rechargeable batteries to vehicle batteries.

 

Cart-based GPR systems accounted for the largest share of the GPR market in 2021. Cart-based GPR systems enable the addition of more antennas and display units; they can collect data in any environment for any application; they span the depths and resolutions required for subsurface investigations. Cart-based GPR systems provide an effective tool to determine the condition of aging bridge decks, walls, towers, balconies, parking, and other concrete structures. Several major companies providing cart-based GPR equipment include Hexagon AB, Guideline Geo, SPX Corporation, and Geophysical Survey Systems, Inc.

 

Utility detection application accounted for the largest share of the GPR market in 2021. GPR is extensively used for locating buried pipes, cables, and sewers. These systems have a unique ability to detect non-metallic and metallic structures, which helps locate pipes and cables. Unlike conventional cable-locating devices, which need electric current to be detected, GPR systems detect nonconducting materials such as plastics, asbestos, and concrete pipes and structures. Construction activities require a detailed mapping of underground or buried utilities and support infrastructure. Depth and location are critical in new structure designs.

Digital Scent Technology Market - Impressive Growth, Massive Revenue 2026

The Digital Scent Technology Market is expected to grow from USD 1.0 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.2%.

The market growth can be attributed to several factors, such as expanding application and advancements in e-nose technologies, increasing use of e-nose devices for disease diagnostic applications, and emerging R&D activities to invent e-nose to sniff out COVID-19, and rising use of e-nose in food industry for quality assurance in production, storage, and display.

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Smart phones segment to grow with the highest CAGR during the forecast period

On the basis of end-use product, the market is categorized into smartphones, smelling screens music and video games, explosives detectors, quality control products, medical diagnostic products, and others. The usage of digital scent technology products in food & beverages, medical, and marketing applications has boosted the smartphones segment. A sensor or e-nose can help detect scents through a smartphone app, to help users choose products. A team of scientists from Nanyang Technological University (Singapore), in collaboration with scientists from Jiangnan University (China) and Monash University (Australia), developed an e-nose that scans the barcode on fish, chicken, and beef. To make it a portable process, the team developed a smartphone app that can yield results in about 30 seconds and has 98.5% accuracy.

Medical application to hold the largest share of the market during forecast period

On the basis of applications, the market is categorized into food & beverage, military & defense, medical, marketing, environmental monitoring, entertainment, and others. E-nose is widely used in the healthcare segment due to an increasing demand for cost-effective, accurate, and non-invasive methods of diagnosis. The medical segment accounted for the largest market share in 2020 due to the increased adoption of digital scent technology in medical diagnosis, patient treatment selection, and metabolic disorders nutritional status. This application constitutes of the maximum developments and innovations of digital scent technology products by mostly start-ups and a few major companies.

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North America is leading the digital scent technology market in 2020

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

Some of the key companies operating in the market are ams AG (Austria), Smiths Detection (US), Alpha MOS SA (France), AIRSENSE Analytics GmbH (Germany), ScentSational Technologies (US), Electronic Sensor Technology (US), Aromajoin Corporation (Japan), Scent Sciences Corporation (US), The eNose Company (The Netherlands), Odotech Inc. (Canada).

Critical Communication Market Size, Scope and Forecast 2024

The Critical Communication Market is expected to grow from USD 13.9 billion in 2019 to USD 19.8 billion by 2024, at a CAGR of 7.4%.

 

High demand for critical communication solutions from diverse industries such as public safety, transportation & medical, advanced features of critical communication network, and increasing need to modernize old equipment are the major driving factors for the market’s growth during the forecast period. Need for reliable and high-quality public safety communication systems and standardization of infrastructure platforms is expected to offer tremendous growth opportunities in the near future.

 

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Public safety to dominate critical communication market (in terms of share) during the forecast period. The public safety vertical is a major adopter of critical communication systems. Public safety is one of the most important responsibilities of any government; it involves protecting individuals from crimes and natural disasters. An effective public safety mechanism involves disaster management and coordination between organizations such as law enforcement and border control, firefighters, emergency medical services. Effective communication is imperative for these organizations while dealing with any natural or man-made disaster. Various agencies provide emergency and rescue services and ensuring public safety.

 

Critical communication market for LTE technology to grow at the highest CAGR from 2019 to 2024. LTE is the next global standard for critical communications, according to several industry representatives, consultants, and end-users. Factors such as the adoption of LTE by FirstNet by public safety organizations in the US, the inclination of the UK Home Office toward LTE, and plans of South Korea to build a nationwide LTE network for public safety are driving the development of LTE for critical communications. The requirements of public safety communications are rapidly changing, involving the adoption of broadband-based multimedia applications, remote surveillance, and robotic technologies such as unmanned aerial vehicles (UAVs).

 

Service offerings to grow at higher CAGR in critical communication market during the forecast period. Services play a crucial role in the growth of the critical communication market. Integration services comprise network-related services that include planning, design, installation, and implementation of networks. Increasing instances of threats and cyberattacks and the emergence of sophisticated attacks are forcing several organizations and government organizations to upgrade their communications systems consistently. In addition, new networks also pose significant challenges for governments regarding management and operations.

 

APAC to grow at the highest CAGR in critical communication market during the forecast period. APAC is witnessing a surge in the smart city projects, which is creating a demand for critical communication technologies, such as surveillance technology, scanning, and critical communication networks. To combat the ever-growing incidents of terrorism and natural disasters, countries in APAC are increasing their spending on the adoption of security solutions. In recent years, APAC has witnessed tremendous economic growth, political transformation, and social change. Organizations in APAC are expected to invest heavily in deploying critical communication systems to deal with terrorist breaches and natural disasters, as well as in verticals such as transportation, public safety, mining, and utilities to ensure safety and security.

 

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

Australia Intelligent Transport System Market - Know the Future Opportunities & Trends

The Australia Intelligent Transport System Market is estimated to reach $1,130.2 Million by 2020 at a CAGR of 14.41% between 2015 and 2020.

 

Major players in the ITS Australia market include the Thales Group (France), Redflex Holding Ltd. (Australia), Vix Technology (Australia), Kapsch TrafficCom AG (Austria), and Sigtec Pty Ltd. (Australia). Several recent expansions and acquisitions, new product launches, and contracts among other strategies are discussed in the report.

 

ITS Australia market refers to information and communication technologies applied in transport infrastructure and vehicles for improved mobility, safety, and sustainability. It improves transport outcomes and traffic management such as transport productivity, transport safety, travel reliability, and reduced traffic congestion.

 

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The report also identifies drivers, restraints, opportunities, and current trends for the ITS Australia market. Apart from the market segmentation, the report includes the critical market data and qualitative information for each technology type along with qualitative analyses such as the Porter’s five force analysis, industry breakdown analysis, and value chain analysis.

 

Australia Intelligent transportation systems market report is segregated based on systems, applications, and territorial regions. Applications in fleet management and asset monitoring, collision avoidance systems and parking availability systems are expected to drive the market. This is due to investments by central and local governments to improve transportation systems and reduce congestion by adopting new technologies. This report is based on system types such as advanced traffic management system, advanced traveler information system, ITS-enabled transportation pricing system, advanced public transportation system, and commercial vehicle operation.

 

Intelligent transportation systems have successfully been applied in transportation and traffic management systems. With the demand for continuous improvement in transportation systems, the ITS Australia market is expected to have a wide scope of applications in areas such as fleet management and asset monitoring, traffic monitoring systems, collision avoidance systems, variable traffic management signs, parking availability systems and traffic enforcement cameras.

 

Territory wise, the market has been segmented into New South Wales, Victoria, Queensland, Western Australia, and the Rest of Australia. New South Wales accounts for a large market share followed by Victoria and Queensland. The market in Western Australia is expected to grow at the highest rate during the forecast period. The Rest of Australia region which includes cities such as Adelaide and Hobart accounts for a small market share at present; however, it is expected to grow during the forecast period due to the increasing requirement of ITS in this region. Hence, the subsequent need for ITS is expected to rise in Australia.

 

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Key drivers for the intelligent transportation systems ecosystem in Australia are increasing government funding and support and the need to reduce congestion and increase road safety. This market, in spite of its exceptional demand, has some restraints in terms of its growth; the key restraints are the lack of interoperability and standardization, and high installation cost. The demand for smart vehicles and driverless cars can be a major opportunity for this market.

Automated Optical Inspection System Market 2025 - Future Scope & Forecast

The global automated optical inspection system market size is expected to reach USD 1,583 million by 2025, from USD 753 million in 2020, at a CAGR of 16.0%.

Koh Young (South Korea), Test Research, Inc. (Taiwan), Omron (Japan), Viscom(Germany), and Saki (Japan)are the leading players in the automated optical inspection (AOI)system market.

Automated optical inspection (AOI) systems are used for the inspection of printed circuit boards (PCBs). The system is superior and less time consuming compared to manual inspection. AOI systems are preliminarily used for the detection of defects such as soldering defects, component defects, and ball grid arrays (BGA), and chip-scale packaging (CSP) defects.

 

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Koh Young (South Korea)

Koh Young is among the leading manufacturers of AOI systems across the world. The company focuses on its R&D efforts to maintain its technical leadership in the field of optical inspection. In FY18, the company invested 12.6% of its overall revenue in R&D activities. Apart from R&D, the company has been implementing strategies such as product launches and expansions to rapidly expand its business operations worldwide. For instance, in May 2018, it opened a new R&D center in Suwon, South Korea, to develop innovative products. Moreover, in November 2017, Koh Young launched Zenith 2 AOI platform with Artificial Intelligence-driven (AI-driven) auto-programming software that reduces programming time by 70%.

 

Test Research, Inc. (Taiwan)

TRI offers the most robust product portfolio in the industry for automatic test and inspection solutions. The company’s product line-up is in line with the latest technological trends in industries, such as Industry 4.0 and smart factory applications. Its highly sophisticated after-sales services have also allowed it to gain recognition among world-class electronics manufacturing companies. Moreover, the company continually works toward upgrading and launching new AOI systems through its R&D activities. For instance, in March 2017, TRI launched its new top-of-the-line TR7700QE 3D AOI systems featuring an advanced 3D solder fillet inspection capability for zero-escape fault detection.

Machine Safety Market - Revenue Analysis & Opportunity 2020-2025

The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors driving the demand for machine safety systems include strict machine safety mandates, and high requirements for reliable safety systems to ensure personnel and asset protection.

 

Requirements for huge capital to install and automate machine safety systems

Machine safety systems are required to be installed as a safety measure for safeguarding employees, machines, and production lines in an emergency situation. However, the cost of machine safety components, and installation, maintenance and repair costs put a substantial burden on the organizational budget. Though large organizations can manage these expenses, it can be difficult for small and mid-sized organizations. Investments for safety equipment were never considered in budget allocations for building plants and production facilities until now, despite the installation and maintenance of machine safety systems adding a substantial economic burden. The aforesaid is a critical factor restraining the growth of the machine safety market.

 

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Increasing use of IIoT to ensure better management and improved performance of machine assets

IIoT is offering new opportunities for integrated safety and compliance services. IIoT can acquire data from sensors and send the collected information to monitoring systems. The data is transmitted through wired and wireless networks that provide real-time analysis, alerts, and possible solutions in case of any emergency situation. Using IIoT, companies can integrate their processes with safety systems and can monitor the same in real time. IIoT facilitates quick monitoring, analysis, and control, offering virtual management of physical systems, which ultimately results in performance improvement.

 

Suspension in machine activities due to COVID-19 and subsequent decline in machine safety market

A few companies have completely stopped their manufacturing operations, which has disrupted the supply chain. Social distancing is also being observed in other parts of the manufacturing ecosystem, including transportation. This further brings commercial activities to a standstill, thereby negatively affecting the growth of the market, especially in the manufacturing sector.

Thermal Scanners Market 2020-2025 - Scope, Strategy, Revenue, Opportunity

The Thermal Scanners Market is estimated to grow from USD 4.1 billion in 2020 to USD 6.2 billion by 2025, at a CAGR of 8.6%. 

 

Increasing government expenditure on the aerospace & defense sector is one of the factors fueling the growth of this market.

 

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The market for uncooled thermal products accounted for a larger share of the thermal scanners market in 2019. The growth of this market is attributed to the increasing demand for uncooled thermal solutions for commercial applications. Furthermore, the availability of HD resolution makes uncooled thermal solutions an ideal solution for high-resolution applications, such as military security and surveillance, industrial detection, and automotive diagnostic. Moreover, they offer long-time services due to the presence of less moving parts.

 

The SWIR segment is projected to lead the thermal scanners market with the highest CAGR from 2020 to 2025. The growth is anticipated due to several advantages offered by SWIR, such as the ability to see through a glass, availability in small size, and ability to see the covert laser. Moreover, as the technological advancements and efforts to launch new low-priced SWIR cameras, is likely to increase the penetration of SWIR cameras in thermal scanning systems.

 

The thermography application held the largest share of the thermal scanners industry in 2019. The growth is attributed to the rising use of thermal scanners at airports due to the outbreak of coronavirus and the increasing government expenditure in the military sector. According to the Stockholm International Peace Research Institute (SIPRI), in 2018, the global military expenditure was USD 1,822 billion, which increased by 2.6% compared to 2017.

 

APAC Growth:

APAC is expected to grow at the highest CAGR during the forecast period. The growth of the thermal scanners market in APAC is attributed to the presence of regional vendors in China and India, offering low-cost solutions, which in turn causes a decline in prices of thermal scanning products. The rising demand for thermal scanners due to the outbreak of coronavirus in various regions in the APAC region mainly in China, Japan, and South-East Asian countries, would further fuel the growth of the market.

 

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FLIR Systems, Inc. (US), Fluke Corporation (US), Leonardo S.p.A. (Italy), L3HARRIS TECHNOLOGIES, INC. (US), and Opgal (Israel), are the key players in the thermal scanners market. These players are increasingly undertaking strategies such as product launches & developments, expansions, partnerships, agreements, contracts, and mergers & acquisitions to increase their market share.

Growth of the Robot End Effector Market Size till 2030

The robot end-effector market is expected to grow from USD 2.6 billion in 2019 to USD 5.7 billion by 2024, at a CAGR of 16.9% during the forecast period.

 

The increase in the adoption of modular end-effectors is one of the key factors driving the growth of the robot end-effector market. Apart from this, growing awareness about benefits and features of collaborative robots (cobots) is also a key factor fueling the market growth.

 

Additive manufacturing or 3D printing is becoming more widespread throughout the industry, whether it be building prototypes or making the final product. Additive manufacturing allows low-volume, customized parts to be fabricated at a lower cost. This technology will have a large impact on the industry by enabling a leaner manufacturing process.

 

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The market in APAC is expected to grow at the highest CAGR during 2019–2024.

This growth can be attributed to the increasing demand for robot end-effectors in China, Japan, and South Korea, mainly for industries such as food & beverages and e-commerce. Because of technological and economic advancements, overall demand for robot end-effectors is expected to increase across the aforementioned countries. Furthermore, government initiatives to strengthen the robotics industry in China and Japan are expected to fuel the growth of the robot end-effector market in APAC during the forecast period.

The robot end-effector market for processing application is expected to grow at a significant rate between 2019 and 2024.

The growing adoption of industrial robots in food & beverages, plastics, rubber, and chemicals industries for automatization of the processing task is the key factor expected to propel the growth of the robot end-effector market for processing application during the forecast period. Hence, along with handling function, players may consider catering to this application for gathering high revenues and strengthening their position in the robot end-effector market.

 

The robot end-effector market for the food & beverages industry is expected to grow at the highest CAGR during the forecast period.

Currently, secondary or end-of-line packaging and palletizing are the most common operations where end-effectors have seen the bulk of growth in the food & beverages industry, as there is less chance for contamination, and food grade components are not mandatory. Soft grippers have shown promising results that are relevant for the food industry. Unlike traditional grippers that are made of rigid materials, these end effectors are fabricated from soft and flexible components.

Potential Growth Opportunities for Time-sensitive Networking Market

The Time-sensitive Networking Market size is projected to reach USD 1,188 million by 2026 from USD 134 million in 2021, at a CAGR of 54.7% from 2021 to 2026.

Growing adoption of industrial automation in manufacturing industries, rising demand for deterministic Ethernet for real-time applications, and challenging multiple controller applications are among the factors driving the growth of the TSN market.

 

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By component, the switches segment held a major share of the TSN market in 2020, and a similar trend is likely to be observed during the forecast period.

The increasing adoption of automation in manufacturing industries is expected to create potential growth opportunities for TSN switches. Industry 4.0 and IoT are becoming key technologies for industrial automation motion control systems, which require interconnected devices on a large scale, which is expected to accelerate the demand for TSN switches in the near future.

 

By application, the industrial automation application is expected to capture the largest share of the TSN market during the forecast period

Owing to the large-scale adoption of TSN technology in industrial automation and manufacturing to fulfill the requirement of the Industrial Internet of Things (IIoT). Industrial automation helps industries streamline the production process, increase production capacity, improve flexibility, and ensure cost reduction. Industry 4.0 and IIoT technologies help industries automate and integrate production equipment with other systems and help businesses to boost their productivity and efficiency and improve predictive maintenance, which, in turn, is expected to fuel the need for TSN technology in industrial automation applications to ensure seamless connectivity and achieve wireless, deterministic, and time-sensitive communication.

 

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By region, North America is anticipated to hold the largest share of the TSN market throughout the forecast period

This dominance is attributed to the rising adoption of industrial automation solutions and robotics technologies. North America comprises major growing economies, such as the US, Canada, and Mexico, which offer significant growth opportunities for the market. Moreover, stringent government regulations with respect to automation of processes to ensure workplace safety. TSN-based Ethernet enables machine-to-machine communication and provides huge volumes of data necessary for predictive analysis. These factors are expected to boost the growth of the TSN market in North America.

 

Belden Inc. (US), Cisco Systems, Inc. (US), Intel Corporation (US), National Instruments Corporation (US), Marvell Technology Group Ltd. (Bermuda), NXP Semiconductors N.V. (Netherlands), Microchip Technology Incorporated (US), Analog Devices, Inc. (US), Broadcom Inc. (US), and Advanced Micro Devices, Inc. (US), are some of the key players in the TSN market.

Growth Opportunities in APAC Region for HVDC Transmission Market Players

The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018–2024. Optimal long-distance transmission solutions, rising demand for VSC technology, the shift toward renewable energy, and supportive government policies and activities for HVDC transmission are all major drivers of market growth. 

 

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APAC expected to account for largest market share during forecast period

In terms of power consumption, the HVDC transmission market in APAC is now seeing exponential expansion. The expansion of electrical infrastructure in this region presents numerous prospects for market participants. China is putting a lot of money into renewable energy and using the most up-to-date UHVDC technology for power transmission. For example, China is now building two of the world's most powerful and longest HVDC power transmission motorways, each with a nominal capacity of 3,000 MW. In the next years, these factors are expected to propel the HVDC market in APAC. 

 

Infeed Urban Areas application expected to witness highest CAGR in HVDC transmission market during forecast period

HVDC systems are ideal for feeding electricity into densely populated urban centers, where the density of required overhead wires could cause significant obstructions. Despite being more expensive, underground power lines utilization is increasing in urban areas. Nowadays, residential and commercial developments have underground utility infrastructure, often ordered by law for aesthetic reasons.

 

HVDC transmission Market for VSC-based technology to grow at highest CAGR during 2018–2024

VSC technology converts AC voltage to DC voltage by using insulated gate bipolar transistors (IGBTs) and pulse width modulation (PWM), or through switching in and out of smaller DC capacitors. There are 2 types of voltage converters: voltage inverters and voltage rectifiers. The main function of a VSC-HVDC system is to transmit constant DC power from a rectifier to an inverter. The “switching off” capability means that VSC converters do not require a synchronous voltage for commutation. Thus, VSC converters are considered a controllable voltage source system for HVDC transmission.

 

Key players in the HVDC transmission market include ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy).

Increasing Application of Microphones in Medical Application through 2025

The global microphone market is estimated to be USD 2.3 billion by 2025 from USD 1.6 billion in 2020 at a CAGR of 7.9% between 2020 to 2025.

 

The growth of the microphone market is fueled by high adoption of next-generation consumer electronics, elevated use of piezoelectric microphones in IoT applications, escalated demand for modern microphones for use in smart wearable devices, and the increased number of microphones per device.

 

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MEMS microphones expected to witness the fastest growth during the forecast period

MEMS microphones expected to grow with the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing adoption of MEMS microphones in IoT enabled electronic devices, because of its miniature design. MEMS microphones enable considerable advancements in sound quality in applications which utilize multiple microphones. This increases the performance of these audio components by providing benefits such as high sound-to-noise ratio (SNR) and improved noise cancellation. Other benefits include small form factors, superior temperature stability, and long battery life due to low current consumption. MEMS microphones when embedded in smartphones enables the execution of active noise and echo canceling that helps isolate a sound and its location. These features have made MEMS microphones increasingly popular among smartphone manufacturers across the world.

 

Digital MEMS microphones to account for largest market share of the microphone market in 2019

Digital MEMS microphones dominated the microphone market in 2019. Digital microphones use dielectric wafers or thin-film transducers to capture sound which permits them to offer a smaller package size, effective immunity to noise, low power consumption, and more precise sound reproduction. Therefore, these microphones are in demand for use in automotive infotainment solutions and IoT enabled electronic devices as they facilitate a hands-free human–machine interaction with high quality audio.

 

Medical application segment estimated to grow at the second highest CAGR during the forecast period

The most recent market trend is to use cellphones to perform medical and health-related tasks. In this regard, AliveCor's heart monitor KardiaMobile for smartphones and tablets is a great example. With the help of electrodes on the skin, the device takes ECG data and converts it into ultrasonic FM sound impulses. These signals are subsequently transmitted to the smartphone's microphones. Wireless sound monitoring applications use microphones that act as acoustic sensors, such as breathing sounds in apnea patients, chest sounds after heart surgery, and feedback sensing in compression vests used for respiratory ventilation. During the projected period, the rising use of microphones in medical applications is expected to contribute to market growth. 

 

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Americas is leading the microphone market, globally, by market share, in 2019

In terms of region, the microphone market in 2019 was dominated by the Americas. The surge in acceptance of high-end consumer electronics, such as wearables and smart home gadgets, in the United States and Canada, can be attributed to the Americas' dominant position. The number of microphones in Apple products has gradually expanded from one to four, which has aided the region's microphone industry's growth. Other consumer electronics companies, such as Cisco (US), Dell (US), and HP (US), have also increased the number of microphones in their devices to improve acoustic performance.