The microphone market is estimated to grow from USD 2.3 billion in 2022 to reach USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027.
Americas and Asia Pacific are expected to pose significant demand from 2021 to 2026.
The microphone market in APAC is projected to grow at the highest CAGR during the forecast period. Infotainment systems are deployed in many low and mid-end cars in Asia Pacific. In the region, MEMS microphones are also being adopted for automotive applications such as in-car devices.
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Knowles Corporation (US), AAC Technologies (China), TDK Corporation (Japan), Goertek (China), STMicroelectronics (Switzerland), ZillTek Technology (Taiwan), Infineon Technologies (Germany), BSE (South Korea), Hosiden Corporation (Japan), and Gettop Acoustic (China) are among a few of the players in the microphone market.
The resurgence of COVID-19 in China in 2022 has also caused certain disruptions to companies operating in the microphone market and offering microphones to different industries. The risk of a prolonged COVID-19 pandemic might lead to a significant disruption of production and shipment in the smartphone supply chain. In addition to COVID-19, geopolitical events between different nations, such as the Russia–Ukraine war, may have an unpredictable impact on the global markets, such as disruption to the global supply of commodities, including base metals and driving up the commodities’ prices.
The microphone market for medical applications is expected to grow at the highest CAGR during the forecast period. There is growing adoption of MEMS microphones in wireless sound monitoring applications, including breathing sounds in apnea patients, chest sounds after cardiac surgery, as well as for feedback sensing in compression vests used for respiratory ventilation.
Thursday, September 29, 2022
Significant demand for microphones from 2022 to 2027
IoT based Asset Tracking and Monitoring Market Trends 2027
The IoT based Asset Tracking and Monitoring market is projected to grow from USD 3.9 billion in 2022 to USD 6.6 billion by 2027; it is expected to grow at a CAGR of 11.3% from 2022 to 2027.
The major players in the IoT based Asset Tracking and Monitoring market include Quectel (China), Sierra Wireless (Canada), Telit (U.K.), u-blox (Switzerland), Thales (France), Sony Semiconductor Israel Ltd. (Israel), Fibocom Wireless Inc. (China), Nordic Semiconductor (Norway), GosuncnWelink Corporation (China).
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North America is estimated to lead the global market during the review period owing to a high inclination toward technologically advanced products. The region is a hub for technological innovations and an early adopter of new technologies. The large presence of major companies in the region, high demand for connected technologies, increased use of innovative devices, and rising deployment of connected technologies are expected to drive the growth of the North American IoT-based asset tracking and monitoring market during the review period.
Various cellular technologies, notably the emergence of fifth-generation cellular connectivity (5G) and older generations of services, are used to track assets worldwide. From many kilometers away, cellular asset monitoring, such as placement utilizing 2G, can detect an object’s state, city, or even neighborhood. However, it is not particularly precise. As a result, cellular asset tracking is usually reserved for larger assets that are easy to locate, e.g., 18-wheelers and buses. The most apparent benefit of cellular asset monitoring is that it can typically be used from the point of origin to the point of delivery without the use of additional technology.
The emergence of automation has changed the working of the automotive sector inside-out and made the IoT popular. For instance, automobile manufacturers are utilizing IoT in advanced planning and scheduling to capture real-time production and inventory data and minimize waste and cycle time. They are also using IoT-based analytics in multiple applications, from optimizing inventory in hand to adopting replenishment strategies in production lines for quality testing using optical-based analytics.
Tuesday, September 27, 2022
Digital Twin Market Opportunities - Global Forecast to 2027
The digital twin market is expected to grow from USD 6.9 billion in 2022 to USD 73.5 billion by 2027; it is expected to grow at a CAGR of 60.6% from 2022 to 2027.
North America is expected to hold the largest share of the digital twin market throughout the forecast period. North America is a major hub for technological innovations and an early adopter of digital twin and related technologies.
The automotive & transportation industry is expected to account for the largest share of digital twin market during forecast period. It is further expected to grow at significant CAGR from 2022 to 2027.
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General Electric (US), Bentley Systems (US), IBM (US), Emerson (US), Microsoft (US), ANSYS (US), Amazon Web Services (US), Altair (US), and Oracle (US) also raises the demand and awareness regarding digital twin solutions.
A digital twin should be able to model simple as well as complex objects and their relationships by accurately capturing their physical properties and simulating behaviors. The main problem is obtaining data in the correct format. Classic mathematical techniques such as Bayesian estimation or Bayesian statistics are required to construct the digital model. One of the most significant challenges is that the majority of the world is inexperienced with Bayesian statistics.
DRAM Module and Components Market Will Grow USD 110.7 Bn during 2022-2027
Monday, September 26, 2022
Intelligent Power Module Market in APAC to grow at the highest CAGR during the Forecast Period
Asia Pacific is expected to be the largest contributor to intelligent power module market during the forecast period. Rapid industrialization and infrastructure developments are driving the growth of consumer electronics and automotive industries in China that is expected to increase the demand for intelligent power modules in the country.
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The major players in the market are Mitsubishi Electric (Japan), ON Semiconductor(US), Infineon Technologies(Germany), Fuji Electric(Japan), and Semikron (Germany) among others.
The emergence of wide band gap materials, such as GaN and SiC, has changed the landscape of the power electronics market. These new semiconductor materials offer better thermal conductivity and higher switching speeds and are smaller than traditional silicon (Si) ones. The use of SiC and GaN has resulted in improvements in existing semiconductor technologies, such as MOSFETs and isolated gate bipolar transistors (IGBTs).
The adoption of new trends and technologies in IPMs is necessary for the rapid growth of the IPM market. Although engineers are interested in new technologies and associated benefits, designing a control structure is challenging. Hence, the pace of adoption of new technologies is relatively slow in the IPM market, which would act as a restraining factor for the growth of the technology.
Rising requirements for power generation through renewable sources, focus of OEMs on providing novel and efficient energy and power monitoring modules as well as surging demand for IPMs in industrial, automotive and consumer electronics vertical are some of the major factors propelling the growth of intelligent power module market.
Ground Penetrating Radar Market - Global Forecast to 2027
Hexagon AB (Sweden), SPX Corporation (US), Geophysical Survey Systems, Inc. (US), Guideline Geo (Sweden), and Chemring Group PLC (UK) are among a few key players in the ground penetrating radar market.
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The market in Asia Pacific is projected to grow at the highest CAGR during forecast period due to the rapid structural development in countries such as China and Japan. China’s government is planning to invest heavily in different infrastructural development projects, such as transportation and railway infrastructure development projects. Thus, the local governments of the country are working to raise funds for infrastructure projects by issuing special-purpose bonds (SPBs). The country is prone to frequent natural disasters such as earthquakes and landslides, which increases the need to monitor and inspect the structures in real time.
As the demand for GPR increases, the demand for GPR software is also rising. The data collected and analyzed by GPR equipment and software helps deliver valuable insights to users in 2D as well as 3D formats. However, 3D GPR data provides even greater context and clarity. The features of 3D data include generating multi-scan slice overlays, rotating and zooming the data slices for analysis, providing adjustable transparency, generating depth slices, and more. Hence, all these features will help drive the growth opportunity for GPR Software in the future.
The market for transportation infrastructure is expected to grow at the highest CAGR during the forecast period. Transportation infrastructure includes areas such as highways, rail, bridges, airports, ports and canals, and tunnels. Demand for condition assessment of transportation infrastructure is a growing field with GPR. Bridge decks, parking decks, and other structures can be scanned to nondestructively evaluate the amount of deterioration. GPR equipment are mainly used for pavement scanning, pavement forensics, buried target location, and sinkholes and void detections. Furthermore, they are used for bridge deck deterioration and bridge forensics.
Friday, September 23, 2022
Head-up Display Market - Opportunities and Challenges
The Head-up display market size is anticipated to USD 6.4 billion by 2027 from USD 2.4 billion in 2022; growing at a CAGR of 21.3% from 2022 to 2027.
The head-up display market is dominated by a few globally established players such as Continental (Germany), Nippon Seiki (Japan), Visteon (US), Pioneer (Japan), BAE Systems (UK), Denso (Japan), Bosch (Germany), and Yazaki Corporation (Japan).
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The global semiconductor shortage is creating significant challenges for the global automotive industry. The production lines of many brands have been severely hit, which in turn has pushed the delivery timelines of vehicles. Almost every major automotive company has recognized the unprecedented challenge, which may pose a threat for at least another year, and is reworking on set plans. BMW in Germany, for instance, is reportedly planning to drop head-up displays from some of the additional package options it offers on its products.
Opportunity: Growing demand for semi-autonomous and electric vehicles
The global demand for semi-autonomous and electric vehicles has increased significantly in the last few years. The increased adoption of these vehicles is accelerating the demand for head-up displays. Semi-autonomous vehicles can sense their environment and navigate to the destination with the partial interference of humans. They can be operated through voice commands. These vehicles are primarily used to provide enhanced safety and convenience to drivers. Semi-autonomous vehicles are equipped with advanced functions such as park assistance, forward collision avoidance, and advanced cruise control. The head-up displays deployed in semi-autonomous vehicles display these features on windshields in the line of sight of drivers.
Challenge: Availability of laser-based volumetric displays as alternatives to head-up displays
Laser-based volumetric displays are key substitutes for head-up displays. Volumetric head-up displays represent information in a volumetric aspect. With the help of lasers, images are projected on windshields to give the illusion of depth. During the night and harsh driving conditions such as fog, low-light vision, and heavy rains, laser-based volumetric displays ensure enhanced safety and traveling information to drivers. In the automotive industry, volumetric head-up displays use laser rays to display images on windshields. In the aviation sector, volumetric displays play an important role in air traffic control.
Hydraulic Cylinder Market Opportunities by 2027
Global hydraulic cylinder market is projected to reach USD 18.3 billion by 2027 from USD 14.3 billion in 2021; at a CAGR of 4.4% from 2022 to 2027.
Parker-Hannifin Corporation (US), Caterpillar (US), KYB Corporation (Japan), Bosch Rexroth (Germany), Eaton (Ireland), Enerpac Tool Group (US), SMC Corporation (Japan), HYDAC (Germany), Wipro Enterprises (India), and The Jiangsu Hengli Hydraulic Co., Ltd. (China) are a few major players in global Hydraulic Cylinder Market.
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OPPORTUNITIES: Increasing demand for lifting equipment in shipping industry
Dockyards usually have numerous shipping containers of varied sizes and weights, which are stacked hundreds of feet high. There are numerous containers worldwide with standard sizes of 20, 40, 45, 48, and 53 feet and weigh around 30 to 42 tons. To ship these heavy containers, lifting equipment are used. Shipping is the most important mode of transport worldwide that facilitates international trade. The majority of items, from electronics, automobiles, textiles, and raw metals to oil & gas, are transported by ships. The facilitating institutional and technological factors such as the adoption of industrial IoT and support from governments are propelling the growth of the shipping industry, which fuels the need for lifting equipment at ports. Though the adoption of lifting equipment is still at a nascent stage, it is expected to rise significantly in the coming years and, therefore, is expected to be a potent source of demand for hydraulic cylinders.
Impact of COVID-19 on the Hydraulic Cylinder Market in North America, Europe, APAC and RoW
With the onset of the COVID-19 pandemic, the world witnessed a health and economic crisis, forcing many businesses to shut down their manufacturing plants and halt most of the operations during the initial 1 to 2 months. During this crisis, the main objective of the companies was to sustain their business by finding safer ways to continue manufacturing operations or find other sustainable ways to get the revenue stream flowing. During this period, the industrial equipment and mobile equipment segments experienced a decline in demand owing to disruptions in the global supply chain. However, post the pandemic, there has been a significant revival in the demand for hydraulic cylinders worldwide. Owing to the surge in demand, industrial equipment and mobile equipment segments have made a strong comeback and are almost back to pre-COVID-19 levels. As a result, the hydraulic cylinder market can be seen growing steadily.
CHALLENGES: Availability of substitutes
Hydraulic cylinders are operated by fluid, mostly oil. The leakage of these fluids causes environmental contamination. Thus, end users looking to maintain a clean and healthy environment prefer cleaner alternatives against hydraulic cylinders. One such option is the use of pneumatic cylinders, which use the pressure of compressed gas to produce a force in a reciprocating linear motion. Since pneumatic cylinders use a gas, even if there is any leakage, it does not contaminate the surrounding. Pneumatic cylinders are used in agricultural and material handling applications, which require the personnel to be in close proximity to these cylinders. Thus, the availability of cleaner substitutes acts as a challenge for the growth of the hydraulic cylinder market.
Thursday, September 22, 2022
Demand for Semiconductor Manufacturing Equipment Worldwide
The global semiconductor manufacturing equipment market is projected to reach USD 175.0 billion by 2027; it is anticipated to register a CAGR of 8.5% during the forecast period.
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.
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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.
Embedded Antenna Systems Market Growth & Opportunities by 2027
The global embedded antenna systems market is expected to reach USD 8.4 billion by 2027; it is anticipated to register a CAGR of 14.9% during the forecast period from 2021 to 2027.
Major players in the embedded antenna systems market are Molex (US), Taoglas (Ireland), Kyocera AVX (US), Linx Technologies (US), Antenova Ltd. (UK), Yageo Corporation (Taiwan), Abracon (US), Ignion (Spain), TE Connectivity (Switzerland), and so on.
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APAC held the largest market share in 2020. The market in APAC is also expected to grow at the highest CAGR during the forecast period, owing to the concentration of consumer electronics manufacturers in the region. The growing penetration of smartphones and smart home devices in the developing countries in APAC is expected to spur the demand for embedded antennas in the region. Government investments in urban planning and smart city development in China and India are expected to provide new growth opportunities for IoT devices during the forecast period; this, in turn, is expected to drive the adoption of embedded antennas in cellular and LPWAN connectivity devices.
The difference in spectrum allocation across regions compels OEMs to produce multiple SKUs of the same IoT devices connected to wide area network (WAN) technologies. This is expected to continue as 2G and 3G networks are phased out and devices transition to LTE and 5G, a technology with more than 40 spectrum bands. 5G is increasing the number of spectrum bands that OEMs need to consider for antenna design.
The demand for embedded antennas is fueled by the developments in the wireless communications industry, such as long-term evolution (LTE), increased adoption of smart devices, higher mobility, and explosive growth in mobile data traffic. New wireless technologies such as LTE and 5G, which are the fastest-growing mobile technologies and would continue to evolve in the future, demand more spectrum and more energy. With the growing number of connected devices, high-speed internet connectivity has become one of the most important parameters in digitally advanced workplaces. With 3G as the absolute wireless broadband technology and 4G rapidly expanding its prospects across numerous applications, the industry focus has shifted toward the development of the 5G technology, which is anticipated to become the next phase of development across the highly dynamic broadband industry.
Wednesday, September 21, 2022
Telecom Power System Market Dynamics - Global Forecast to 2027
Global telecom power system market is projected to grow from USD 3.9 billion in 2022 to USD 5.4 billion by 2027; it is expected to grow at a CAGR of 7.1% from 2022 to 2027.
The telecom power system market is dominated by a few globally established players such as Eaton (US), Huawei Technologies (China), Cummins (US), ZTE Corporation (China), General Electric (US), Schneider Electric (France).
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Opportunity: Surging requirements for advanced telecom infrastructure and M2M connections
The speed and reliability of advanced telecom infrastructure are expected to have a massive impact on machine-to-machine (M2M) and IoT. Key reasons for the increased adoption of new M2M technologies are better connectivity for smooth communication and low power requirement. The existing capacity of mobile networks must be able to handle billions of nodes that are expected to ascend in the next couple of years to achieve effective M2M communication. Currently, the network capacity is incapable of handling M2M and human-based communications, as well as their different communication patterns such as latency time.
Challenge: Design challenges for telecom power systems
All transmitters and receivers are embedded with semiconductor devices. There is a high level of design complexity in semiconductor devices. The major challenge for designers is to achieve better power efficiency while keeping the cost low and the structureless complex, particularly for devices working at higher frequency bands (SHF and EHF). Also, the varying requirements of different applications further increase the design complexity of semiconductor devices. Device manufacturers must continuously upgrade the design to accommodate changes such as the upgrading of LTE technology and the evolution of 5G technology. These rapid technological developments are creating design challenges that include maximizing linearity and isolation, managing power consumption, and antenna tuning. High integration is required since an increasing number of bands must squeeze into the limited space allocated to the telecom power systems.
Driver: Growing adoption of telecom services and high data traffic
With time and understanding about telecommunication services such as voice, internet, networking, and data services, people have started adopting them at a faster pace. With the growing need for telecommunication services, they are now used in all sectors i.e., schools, offices, data centers, healthcare, etc. With the smoother work execution including better communication services, improved internet services pertaining to better file transfer in offices, etc., people have started trusting these services for their day-to-day uses and necessities. The rapid adoption of these services will lead to enhanced telecom infrastructure development in terms of more towers to provide services to more people and hence, higher demand for telecom power systems. The increasing number of wireless devices that can access mobile networks is leading to the growth of mobile data traffic. As the number of mobile devices with advanced computing and multimedia capabilities is increasing, the demand for more capable and intelligent networks is also growing simultaneously. Mobile connections are evolving from 2G network connectivity to higher-generation network connectivity such as 3G, 3.5G, 4G, and 4.5G (LTE/LTE-A). With the evolution of mobile connectivity, the need for network monetization is also rising, which is leading to the growing adoption of telecom power systems.
Restraint: High deployment and operational costs
The telecom power systems are used to avoid operational downtime and maintain a high level of power quality. As telecom power system equipment are equipped with a number of features, their costs are high. The high-end power quality equipment are equipped with various features, such as high-power efficiency and disturbance detection, and flicker detection. Thus, these equipment are expensive and have high installation costs. Moreover, the construction and maintenance of telecom towers along with the maintenance of the power system components or devices incur more operational costs as more people are deployed to maintain the sites and it requires manpower to conduct site visits, which will majorly be on the outskirts of the city. High costs of high-end telecom power equipment are expected act as a restraint for the growth of the market.
Embedded Security Market Dynamics - Global Forecast to 2027
The embedded security market size is valued at USD 6.8 billion in 2022 and is anticipated to be USD 9.0 billion by 2027; growing at a CAGR of 5.9% from 2022 to 2027.
Driver: Inclusion of payments functionality in wearables
Wearable technology is evolving and developing, with everything from clothing to smart glasses to jewelry to virtual reality (VR) tools (such as the Oculus Rift) being a part of it. Smart wearable technology is being employed in a variety of applications, including fitness tracking, navigation, and health monitoring. To avoid misuse, several of these apps, such as payments and smart home control, require user authorization. Embedded security solution companies are releasing new embedded security solutions to meet this niche market. For instance, STMicroelectronics (Switzerland) offers secure wearable solutions for a variety of applications, including payment, transportation, and contactless transactions. Axis Bank and Thales Group collaborated to launch "Wear N Pay," a range of contactless payment devices.
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Restraint: Susceptibility of embedded systems to cyber-threats and security breaches
One of the main issues hindering the growth of the embedded security market is the security of embedded devices. Military forces, banks, data centers, and healthcare institutions may utilize information stored in embedded devices such as memory. As a result, protecting such devices against cyber-attacks and data breaches is critical. Because of irregular security upgrades, a long device lifecycle, remote deployment, and attack replication, embedded systems are vulnerable to cyberattacks. As a result, the market's growth is expected to be hampered by its susceptibility to cyber-attacks and security breaches.
Opportunity: Growing Integration of embedded security in electric vehicles
Many innovations in the automobile sector are currently dependent on software and electronics, and IT is likely to contribute to a large percentage of the production cost. The EV market is expanding rapidly because it offers advantages over other types of vehicles. However, from the standpoint of charging infrastructure, EV charging is considerably more than a one-step, plug-and-go procedure. To ensure that every EV on the grid receives the necessary quantity of energy and electrical flow, a significant amount of communication must take place between the car, the charging point, and the utility supplier. Financial transactions and personal data should be managed responsibly and securely in some circumstances, particularly where remote EV charging is given for a fee.
Challenge: Shortage in supply of semiconductors
Semiconductors are a major component of embedded systems. The global supply chain was disrupted as a result of the 'trade war' between the United States and China. Tariffs and restrictions were placed by the two countries on each other, causing demand and supply disruptions. Supply chain disruptions have impacted multiple industries, resulting in a semiconductor shortage. The COVID-19 outbreak also wreaked havoc on the semiconductor supply chain. China is a major supplier of semiconductors; delays in supply due to the aforementioned factors have hampered the development of embedded systems.
Tuesday, September 20, 2022
Automated Optical Inspection System Market Size worth $1660 million by 2026
A few of the key players in the automated optical inspection market are Koh Young (South Korea), Test Research, Inc. (TRI) (Taiwan), Omron (Japan), Camtek (Israel), Viscom (Germany), Saki Corporation (Japan), Nordson (US), KLA (US), Cyberoptics (US), and Goepel Electronics (Germany).
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APAC is the leading region for global PCB production, with countries such as China, Taiwan, Japan, and South Korea at the forefront. The increase in high-volume manufacturing of PCBs creates a demand for AOI systems with faster inspection speed. The APAC electronics industry has become a world-class innovation-driven hub for production as a result of low-priced skilled labor, business-friendly environment, low production cost, and growing demand for electronic products in the region.
The consumer electronics segment is expected to hold the largest share of the AOI system market during the forecast period. The miniaturization of electronic gadgets has further increased the complexity of internal circuits and components. To efficiently inspect complex PCBs of small and compact consumer electronic devices, manufacturers are increasingly using advanced AOI systems to offer high-quality products to customers. The trend of having one device with multiple functionalities has made modern-day electronic devices such as smartphones, laptops, and wearables more complex in architecture.
Thermal Imaging Market Size, Share, Forecast 2026
Major players operating in the global thermal imaging market are FLIR Systems (US), Fluke Corporation (US), Leonardo (Italy), L3HARRIS TECHNOLOGIES (US), United Technologies (US), Axis Communications (Sweden), BAE Systems (UK), Opgal (Israel), Testo (Germany), Xenics (Belgium), Thermoteknix Systems (UK), and so on.
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North America accounted for the largest share of the thermal imaging market and is expected to continue this growth during the forecast period. The region is home to the major producers of thermal imaging components, such as thermal cameras, scopes, and modules. The US is the major contributor to this region and accounts for ~89% of the total thermal imaging market share in North America. The growth of the thermal imaging market in this region is attributed to the presence of numerous manufacturers and distributors, the low cost of thermal imaging components, and the increasing government expenditure in the aerospace & defense sector.
Based on applications, the thermal imaging market has been segmented into security and surveillance, monitoring and inspection, and detection and measurement. The security and surveillance segment held the largest share of the thermal imaging market during the forecast period. Rapid urbanization increases the demand for advanced thermal imaging solutions for security and surveillance applications. The rising conflicts and terrorist activities among countries also increase the demand for well-equipped systems to monitor the country's borders from the illegal intrusion of enemies and protect the country from them.
The key factors driving the growth of the global thermal imaging market include Increasing government expenditure on the aerospace & defense sector boosting the growth of the thermal imaging market, Increasing adoption of thermal imaging in the automotive industry, growing R&D investments by companies, governments, and capital firms for developing innovative thermal imaging solutions, and others.