Warehouse Management System Market Size - Global Forecast to 2026

The global warehouse management system (WMS) market size is expected to grow from USD 2.8 billion in 2021 to USD 6.1 billion by 2026, at a CAGR of 16.7%.

Emerging economies are mainly contributing to the growth of the industry. New manufacturing units are now being set up in developing nations due to the ease of business norms and policies and cheap labor availability. Rising investments in these countries by global multinationals are also a key contributor to the growth of the WMS market.

Major companies operating in this warehouse management system market include Manhattan Associates, Inc. (US), Blue Yonder Group, Inc. (US), HighJump (Körber) (US), Oracle Corporation (US), IBM (US), and SAP (Germany).

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OPPORTUNITIES: Adoption of digital technologies in supply chain management

The supply chain in today’s time is a series of discrete and isolated phases/stages—ranging from marketing, product development, manufacturing, and distribution stages to end users and after-sales services. With the rise in technological advancements, digitization has spread across all operations of the supply chain. The digitization of the supply chain aids in building a completely integrated ecosystem, which is fully transparent to all the players involved—from suppliers of raw materials, components, and parts to transporters of the supplies and finished goods, and finally to the customers demanding fulfillment. The digitization of the supply chain will have several more advantages like streamlined operations. Digitization reduces time wastage as the processes are automated, the decision-making is robust and improved. The errors are identified and solved easily. In digital systems, the collaboration and exchange of information between the vendors and enterprises are likely to be much more transparent, which will result inmore productivity. The digitization of the supply chain will also reduce lead time and thus increase profitability.

CHALLENGES: Insufficient knowledge of WMS among small-scale industries

Small-scale industries traditionally operate their warehouses with legacy systems. As the annual income of small-scale industries is not very high, investments to set up WMS seem to be an unnecessary expense for these business owners. Similarly, they have a small amount of workforce, among which finding a skilled worker to maintain WMS, may be a tedious and investing task.Owing to the reluctance to replace traditional systems and limited growth plans, business owners in small-scale industries fail to recognize the benefits they can avail of by using WMS. Further, significant investments associated with the deployment of WMS and high upfront costs restrain the adoption of WMS. The deployment of WMS involves extra costs for license purchase, upgrades, and employee training; this factor also limits the adoption of WMS by small-scale industries. The deployment of WMS increases the efficiency of warehouse operations, reduces operational expenses, and enhances labor productivity. However, the lack of awareness about the benefits of WMS among small-scale industries poses a challenge for the players in the WMS market.

Fiber Optics Collimating Lens Market Growth Drivers - Global Forecast to 2026

The global fiber-optic collimating lens market size is projected to grow from USD 554 million in 2021 to USD 1,081 million by 2026; it is expected to grow at a CAGR of 13.3% from 2021 to 2026.

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

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Opportunity: Need for handling heavy data in manufacturing and logistics sectors

Manufacturing and logistics sectors would benefit from fiber optics because of their operations and services, which are highly dependent on high-speed bandwidth. This sector needs to work on heavy data, such as the number of products manufactured, raw materials received, and bins in the warehouse. Fibers provide scalability; hence, during times of rapid expansion, a company can easily access near unlimited bandwidth and does not have to deal with additional monthly fees or service delays from the ISP. Also, network latency, reliability, and low long-term costs add to the benefits of fiber networks. Fibers are highly secure, as the network itself is privately owned and operated by the lease owner. No other external entity can track or record the data and information being transmitted through the fiber. This level of security is crucial for businesses that need to regularly transmit sensitive data.

In the distant past, fiber optics had a reputation of being too fragile and expensive for the plant floor – a bleeding-edge technology that was just not worth looking at for the day-to-day requirements of industrial facilities. But developments over the past ten years have resulted in fiber-optic systems tailored to the requirements of new and existing process plant and manufacturing environments. These systems can carry a wide variety of signals and data with capabilities wire cannot match to provide a superior solution now and far into the future.

Challenge: Traditional internet wires

Traditional internet wires are made of copper or other conductive materials. These wires use electricity as their medium of communication rather than light. Copper is a cheap and widely used component for network devices connection. Due to the high initial cost of deploying fiber optics in regions such as Africa and Latin America, these regions are still not fully fiber-based and require huge investments to change the entire internet infrastructure. Hence, developing nations are still using copper-based cables for signal transmission. However, in the coming years, with economic growth and advancements in networking infrastructure, the deployment of fiber cables is likely to increase in the coming years.

Gesture Recognition and Touchless Sensing Market Share, Size, Growth Drivers 2026

The gesture recognition and touchless sensing market is projected to reach USD 37.6 billion by 2026 from USD 13.6 billion in 2021; it is expected to grow at a CAGR of 22.6% from 2021 to 2026. 

North America has the largest market share for gesture recognition and touchless sensing. Whereas, APAC has the highest growth rate and is expected to grow at the highest CAGR during the forecast period owing to the rapidly changing face of technology and customer needs in high-potential markets such as China, Japan, South Korea, and India. 

Due to advancements in technology and the emergence of new business models as well as new infrastructural developments in the developing cities of the region, the gesture recognition and touchless sensing market is exhibiting an upbeat outlook. The growing awareness of hygiene and advancement of security standards would further fuel the adoption of gesture recognition and touchless sensings in APAC. 

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Online gesture recognition is used to scale or rotate a tangible object and control a machine or a computer in real-time. Also called direct manipulation gestures, it lets the user interact with objects and impose changes viewable as done to them. Online gestures are regarded as direct manipulation, such as scaling and rotating. In contrast, offline gestures are usually processed after the interaction is finished—for example, a circle is drawn to activate a context menu. Offline gesture recognition is a relatively newer technology than online gesture recognition, owing to which the rate of recognition in offline gestures is lower than that of online gestures.

The growth of the touchless sensing market in North America is mainly driven by large-scale funded programs by the government, such as the Visa Waiver Program (VWP), which enables people from certain countries to travel to the US without a visa. Moreover, the high adoption rate of touchless sensing equipment and rising technological advancements also drive the growth of the touchless sensing market in North America. The gesture recognition and touchless sensing market in North America have witnessed significant advancements in recent years. It is always at the forefront of the adoption of technology and associated services. The deployment of augmented reality (AR) and virtual reality (VR) technologies in the gaming and entertainment industries have accelerated the adoption of gesture recognition products and solutions in the region. The government takes favorable initiatives in North America to strengthen regulatory activities, and security operations have encouraged the growth of the touchless sensing market. Moreover, the demand for finger-scan biometric technologies for user authorization is expected to increase the demand for PC/network security applications. The major drivers for the gesture recognition market In North America include the intensive efforts by OEMs for one-stop integration and a highly developed gaming & entertainment industry. Currently, consumer electronic applications contribute to the maximum share of the gesture recognition market in this region. There is a surplus opportunity for existing players and new entrants to innovate and differentiate products related to the price and high-quality user interface. The touchless sensing and gesture recognition market is expected to have high demand owing to augmented applications; however, a saturated consumer electronics industry is expected to restrain the market growth compared to other regions worldwide.

The major companies in the gesture recognition and touchless sensing market are Microsoft Corporation (US), Microchip Technology Inc. (US), Apple Inc. (US), Google LLC (US), Sony Depthsensing Solutions SA/NV (Belgium), Infineon Technologies (Germany), Cognitec Systems GmbH (Germany), GestureTek (Canada), OmniVision Technologies (US), IrisGuard (UK), Cipia (Israel), Elliptic Laboratories (Norway), XYZ Interactive (Canada), pmdtechnologies ag (Germany), Oblong Industries Inc. (US), Gesture Research (India), PointGrab Inc. (Israel), ESPROS Photonics (Switzerland), HID Global Corporation (US), OMRON Corporation (Japan), Ultraleap (UK), German Autolabs (Germany), iProov Ltd. (UK), Qualcomm (US) and Toposens (Germany).

 

Hygienic Pumps and Valves Market Share - Global Forecast (2021-2026)

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

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

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

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

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

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

Automated Optical Inspection Market Size, Growth Drivers, Opportunities 2026

Automated Optical Inspection Market is projected to reach USD 1,660 million by 2026. It is expected to grow at a CAGR of 20.8% during the forecast period.  Advantages of AOI over other inspection methods, upsurge in the demand for consumer electronics amidst pandemic, rising need for miniature, high-speed PCBs, demand for higher productivity by electronics manufacturing services (EMS) companies, and growing demand for electronics in automotive sector are contributing to the growth of the automated optical inspection market. Advent of SMART technology, newer applications of AOI systems apart from PCB inspection, and growing demand for AOI systems for inspection of IC substrates act as a growth opportunity for the market players.

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3D AOI systems to account for a larger share of the automated optical inspection market

The 3D AOI system market is expected to be dominant and faster during the forecast period. Large-scale manufacturing units primarily make use of 3D AOI systems. 3D AOI systems have high operational costs and use complex programming codes for functioning but are more efficient and sensitive at detecting defects and faults than 2D AOI systems. 3D AOI systems can detect faults in PCB substrates as well as in the ball grid array (BGA), which makes them superior to 2D AOI systems. Further, the ability to quickly inspect defects in tall components, significant reduction in false call rates, and ability to provide volumetric data of components under inspection make 3D AOI systems an ideal choice for electronic manufacturing service (EMS) providers in the coming years.

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Consumer electronics industry accounted for the largest share of the automated optical inspection market in 2020

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. The increased complexity of these devices requires highly advanced AOI systems for inspection. Further, with the rise in the adoption of 3D inspection technology, AOI systems are going to play a vital role in maintaining the high-quality standards of these complex consumer electronic devices.

Asia Pacific to account for the largest share of the automated optical inspection market by 2026

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 growth in the electronics industry has enabled the APAC AOI market to grow at a significant rate.

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).

Thermal Imaging Market Share, Trends, Forecast 2026

Thermal Imaging Market is projected to grow from USD 3.6 billion in 2021 to USD 4.7 billion by 2026, growing at a CAGR of 5.5% during the forecast period. 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.

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Thermal cameras segment to account for the largest share of thermal imaging market during the forecast period

On the basis of product types, the thermal imaging market has been segmented into three categories—thermal cameras, thermal scopes, and thermal modules. The thermal cameras segment held the largest share of the thermal imaging market in 2020 and is expected to continue this growth during the forecast period. Several reasons, such as an electronic image of high-quality precision produced in less time and the availability in different types (handheld, mounted, and standalone) and various micro-and nano-sizes, contribute to this dominance.

Security and surveillance segment to account for the largest share of thermal imaging market during the forecast period

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.

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North America to account for the largest share of thermal imaging market during the forecast period

Among all regions, 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.

Some of the key companies operating in the 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.

Solid State Radar Market Share, Trends, Forecast 2021-2026

The solid state radar market is projected to grow from USD 1.7 billion in 2021 to USD 2.0 billion by 2026; it is expected to grow at a CAGR of 4.2%from 2021 to 2026.  

The key factors fueling the growth of the market include advancements in solid state radar technologies, development of phased-array solid state radar, and increased demand for advanced weather monitoring radar. Additionally, the growing investments across the defense sector in the APAC is expected to create an opportunity for the solid state radar market.

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The 3D solid state radars are used in applications, such as surveillance, navigation, and weather monitoring. These 3D radars can provide high target location accuracy along and fully automatic operation modes, which has resulted in an increased demand for these radars in the military.

The S-band solid state radars provide highly accurate outputs and are stable at high power. Other advantages of these radars include clear images, reduced maintenance, and low running costs. The growing air traffic and increasing investments in airport infrastructure development in various countries across the globe are key factors expected to boost the market of S-Band solid state radars.

The solid state radars are used by police forces, border security forces, coastal & maritime patrol officers, and search & rescue operatives. These radars are also used to detect targets and determine their position, course, and speed over a long-range. Solid state radars facilitate intelligence gathering, surveillance, and reconnaissance. Thus, all these factors are expected to drive the growth of solid state radar market for this segment.

The increased adoption of solid state radars in the navigation, border security, surveillance, and traffic management applications is the major reason for the growing demand for radars in the commercial as well as non-commercial industries. The demand for solid state radars is expected to increase with the growing investments across the defense sector in the region.

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The key players operating in the solid state radar market include Lockheed Martins (US), Raytheon Technologies (US), Honeywell (US), Thales Group (France), Leonardo (Italy), Elbit Systems (Israel), Garmin (US), Indra (Spain), Wartsila (Finland), and Teledyne Flir (US).

Medical Alert Systems Market Share, Size, Trends 2021-2026

The medical alert systems market is expected to grow from USD 6.8 billion in 2021 to USD 11.1 billion by 2026; it is expected to grow at a CAGR of 10.3% during the forecast period. The major driving factors for the growth of the medical alert systems market include increase in the geriatric population, increase in adoption of life-saving and tracking systems and the growing inclination of the elderly population towards independent living.  

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Two-way voice systems mainly consist of a console unit and are connected to the traditional landline phones in the case of the in-home medical alert system. In the cellular network-based system, the console unit comes with a SIM card or has been pre-enabled to connect with a cell network connection. The console unit is connected with the monitoring center whenever a user sends the emergency signal or the sensor detects a fall. Advancements in technology have developed a smart console unit, which works on the VoIP or 4G LTE network for faster communication. Two-way voice systems find application in homes, hospitals and clinics, and long-term care facilities.

The PERS segment accounted for a larger share of the wired medical alert systems market in 2020, and a similar trend is likely to be observed in the coming years owing to the developments in connected devices and adoption of the Internet of Medical Things (IoMT). Advances in medical technology have resulted in the adoption of smart devices with multiple functions to improve the quality of elderly care. This has led to an increase in demand for wired devices among elderly citizens.

The elderly population in Europe is rising rapidly, and there is a need to manage this aging population. Countries such as Germany, the UK, Italy, and France have more than 20% of the population 65 years and beyond, and it is increasing significantly. Germany accounted for the second-largest market share in 2020, and the market in the country is projected to grow considerably owing to the established healthcare infrastructure, high per capita expenditure on healthcare, and various healthcare initiatives by the government. Other factors for the high demand for medical alert systems are the growing awareness among the elders regarding personal health.

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Philips (Netherlands) ,Connected America (US) ,Valued Relationships (US) ,Medical Guardian (US) ,ADT (US) Guardian Alarm (US), Bay Alarm Medical (US), MobileHelp (US), Alert1 (US), and LifeFone (US) are among the key players operating in the medical alert systems market.

North America to hold the second-largest market share for Smart Appliances Market

The smart appliances market is expected to grow from USD 33.8 billion in 2021 to USD 76.4 billion by 2026; it is expected to grow at a CAGR of 17.7% during the forecast period.

The major driving factors for the growth of the smart appliances market include rising energy prices, changing lifestyles of consumers, increasing use of wireless connectivity, and increased government regulations to save energy. However, the COVID-19 outbreak has resulted in a decline in the growth rate of the smart appliance market, especially in 2020 and 2021.

In 2020, North America accounted for the second-largest share of the smart appliance market, and a similar trend is likely to be observed during the forecast period. High demand for smart appliances from the residential sector is one of the major factors leading to the dominant position of North America in the smart appliance market.

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Samsung Electronics (South Korea), LG Electronics (South Korea), Panasonic (Japan), Whirlpool (US), Haier Smart Home (China), Electrolux (Sweden), Koninklijke Philips (Netherlands), BSH Hausgerate (Germany), Xiaomi (China), and Miele & Cie. KG (Germany) are among the key players operating in the smart appliances market.

In 2020, the residential sector held the largest size of the smart appliance market; it is expected to witness significant growth during the forecast period. The demand for smart appliances has seen a significant increase in recent years—one of the key factors being the rise in digitalization across the globe. Internet penetration has been increased, and smart appliances are easily accessible. Consumers prefer smart appliance for their house as it provides convenience, with the help of smartphone entire home appliance can be controlled from anywhere

In 2020, the products segment dominated the smart appliances market and is also expected to witness significant growth during the forecast period. The growing need for energy-efficient devices and the rapid technological developments in smart appliances are key factors expected to drive the smart appliances market during the forecast period. Moreover, this market has huge growth potential, and there are many leading players investing in the design and development of smart appliances; the increased R&D activities are also fueling the market growth. Smart washers, smart dryers, smart air conditioners, smart refrigerators are some of the most demanded products in the smart appliance market.

North America to create highest growth opportunities for Waterjet Cutting Machine Market

The waterjet cutting machine market is projected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 6.2%from 2021 to 2026.  

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.

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The key players operating in the waterjet cutting machine market include Colfax (US), Omax(US), Flow (US), Koike Aronson (US), Wardjet (US), Techni Waterjet (Australia), Dardi (China), Waterjet Sweden (Sweden), and Innovative (India).

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.

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.

Environmental Sensor Market Size, Share, Global Forecast to 2027

The Environmental Sensor Market size is expected to grow from USD 1.4 billion in 2021 to USD 2.7 billion by 2027, at a CAGR of 10.3%. Increasing health related concerns due to environmental pollution is the primary factor driving the market growth. Moreover, growing adoption of environmental sensors in consumer electronics and government and public utility verticals will drive the demand for this technology in the near future and is expected to play a vital role in the growth of the environmental sensor market.

Major players in the environmental sensor market include Bosch Sensortec (Germany), Sensirion  (Switzerland), ams AG ( Austria), OMRON (Japan), Honeywell (US), Raritan (US), Siemens (Germany), Texas Instruments (US), Schneider Electric (France), Amphenol (US) among others.

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The market has declined in 2020, mainly due to the impact of COVID-19. The supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, that affected the environmental sensor market. Though the market was impacted in 2020, it is expected to fully recover by 2021.

Air quality is estimated as the fastest-growing type in the said market during the forecast period

The environmental sensor market for air quality sensors is expected to grow at the highest CAGR during the forecast period. The growth in use of air quality monitoring systems is mainly attributed to rising awareness about indoor and outdoor air pollution levels and taking considerable measures for their control and minimization. Increasing awareness about air pollution among the residential and commercial applications has resulted in the rising adoption of portable air quality monitors and air quality filters. Furthermore, implementation of various government projects such as installation of weather monitoring stations for the purpose of smart city applications is one of the driving factors for market growth.

Consumer electronics and residential vertical are estimated to be the fastest-growing market during the forecast period

The environmental sensor market for Consumer electronics and residential vertical are expected to be the fastest-growing markets during the forecast period. The increasing demand for air quality monitors and filters, temperature sensors, humidity sensors and others in consumer electronics and residential verticals is one of the major driving factors for the environmental sensor market. The growth in the consumer electronics vertical is attributed to the increasing use of environmental sensors in smartphones, tablets, and wearable devices and rise in wireless technologies. Growing concerns over the impact of air pollution and technological advancements, which have resulted in the availability of smart sensors or air quality monitors at low cost is one of the major driving factors for the growth of the market in residential applications

Asia Pacific is expected to grow at the highest rate

The market in APAC is expected to grow at the highest rate during 2021–2027. The global market players are experiencing increased demand for environmental sensors from countries such as China, Japan, India and South Korea. High investments in environmental sensors by governments in countries such as China and India is also driving the growth of the said market in APAC. Furthermore , growing urbanization, rising disposable income, replacement needs, strict energy regulations, and technological innovations  also help to drive the HVAC market, which further creates demand for environmental sensors in APAC.

Robot End Effector Market worth $4.4 billion by 2026

The robot end effector market is projected to grow from USD 1.9 billion in 2021 to USD 4.4 billion by 2026; it is expected to grow at a CAGR of 18.8% from 2021 to 2026.

The robot end effector market is projected to grow from USD 1.9 billion in 2021 to USD 4.4 billion by 2026; it is expected to grow at a CAGR of 18.8% during the forecast period. Owing to COVID-19, the robot end effector market is estimated to face headwinds for 2021–2022. Steady deployment of robots in manufacturing industries is facilitating the growth for robot end effectors. With the growing demand and adoption of collaborative robots, the demand for collaborative end effectors is also increasing. This scenario is observed in the consumer goods industry, specifically packaging, where the shape, size, surface, or weight of the packaging is constantly changing.  Meanwhile,  3D printed end effectors are gaining more presence across the industry. With the use of proper materials, end effectors manufactured using 3D printing are more flexible and strong enough for their intended purpose. Introduction of programmable end effectors and, research and ongoing developments in soft grippers and vacuum technology for suction cups and grippers for industries with special needs such as food and beverages, and pharmaceuticals and cosmetics (subjected to delicate workpieces and careful handling) expected to provide market opportunities for robot end effectors.

 

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Market for grippers is projected to have the highest share during the forecast period

Grippers are estimated to account for the largest market share throughout the forecast period, in terms of value. The market for grippers is largely driven by its handling and assembly application in a wide range of workpieces considering their various shapes and size. Various types of grippers namely, electric, magnetic, and mechanical grippers are designed for different types of handling and assembly applications based on the industry and operational environment. Hence, grippers are used from heavy industries (automotive, metals and machinery) to non-heavy industries (food and beverages, pharmaceuticals and cosmetics) as well as in service industries (healthcare and cleaning), which broadens its scope. For instance, the magnetic grippers are exclusively used to handle ferromagnetic materials and are especially useful in gripping objects with holes or nets. The electrical grippers are fully programable and hence have more state of operations and are ideal for applications that need high speed and moderate gripping force. Whereas mechanical grippers are considered the best fit for handling single component forms, which means they are not suitable for a facility that produces a lot of low volume/high mix pieces. This gripper style also has the limited force and position power, and it operates with compressed air.

Market for processing application to grow at highest CAGR during the forecast period

The market for processing applications, in terms of value, is projected to grow at the highest CAGR during the forecast period. Penetration of automation in SMEs and increase in adoption of end effector devices for carrying out applications such as polishing, buffing, punching, and grinding are the main drivers for this growth. The automotive, precision engineering and optics, and metals and machinery industries are projected to account for the largest market share for processing applications throughout the forecast period. The growth is driven by rising automation in this industry for various applications such as grinding, milling, deburring, and polishing processes. New developments are taking place for software driven end effectors for processing application. For instance, polishing tools with in-built programming are in high demand due to their ease of use and quick switching applications. Hence, the market for processing application is expected to grow at a faster rate during the forecast period.

Market in APAC estimated to grow at the fastest rate during the forecast period

APAC is expected to adopt robot end effectors at a fast rate driven by increasing investment in automation by automotive, and electrical & electronics companies, especially in countries such as China, South Korea, and India.  This region is considered a major manufacturing hub in the world, which is expected to provide ample growth opportunities to the end effector market. The end effector market in APAC is expected to witness higher growth than the matured markets in Europe and North America due to low production costs, lenient emission and safety norms, and government initiatives for foreign direct investments (FDIs). Additionally, technological advancements in the field of robotics made by the regional players further provide opportunities for introducing robot end effectors for SMEs in the food and beverage industry. Also, the increasing adoption of collaborative robots in industries such as wood and furniture and automotive is another key trend, which has fueled the demand for robot end effectors in the region. Therefore, with the increasing demand for collaborative robots, strong growth for collaborative end effectors is expected in APAC. Hence, it is expected that APAC will dominate the market of robot end effectors during the forecast period.

 

 

Time-sensitive Networking Market - Global Forecast to 2026

The time-sensitive networking market size is projected to reach USD 1,188 million by 2026 from an estimated 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.

Browse 110 market data Tables and 55 Figures spread through 188 Pages and in-depth TOC on "Time-sensitive Networking Market - Global Forecast to 2026"

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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.

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.

Gallium Nitride Semiconductor Device Market to hold the largest share of the market in 2026

Gallium Nitride Semiconductor Device Market is projected to reach USD 24.9 billion by 2026, at a CAGR of 5.2% between 2021 to 2026. The global GaN semiconductor device market will grow to USD 24.9 billion by 2026 (forecast year) from USD 19.4 billion in 2021 (estimated year), at a CAGR of 5.2% between 2021 to 2026.

Browse 176 market data Tables and 55 Figures spread through 246 Pages and in-depth TOC on "Gallium Nitride Semiconductor Device Market with COVID-19 Impact Analysis by Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer and Enterprises, Automotive, Telecommunications), and Geography - Global Forecast to 2026"

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Cree, Inc. (US), Infineon Technologies (Germany), Qorvo, Inc. (US), MACOM Technology Solutions (US), NXP Semiconductors (Netherlands), Mitsubishi Electric Corporation (Japan), Efficient Power Conversion (EPC) Corporation (US), GaN Systems (Canada), Nichia Corporation (Japan), and Epistar Corporation (Taiwan) are the key players in the global GaN semiconductor device market.

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

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

Device-as-a-service market to witness significant growth over the past year

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

Browse 181 market data Tables and 72 Figures spread through 237 Pages and in-depth TOC on "Device-as-a-Service Market with COVID-19 Impact Analysis by Offering, Device Type(Desktops; Laptops, Notebooks, Tablets; Smartphones & Peripherals), Organisation Size, End User (IT & Telecommunication, BFSI and others) & Region - Global Forecast to 2026"

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Hewlett Packard (US), Lenovo (China), Dell Technologies (US), Microsoft (US), Cisco (US), CompuCom(US), 3stepIT (Finland), Telia Company (Sweden), Atea Global Services (Latvia), CHG MERIDIAN (Germany), CSi leasing (US), Computacenter (UK), Econocom (France), GreenFlex (France), GRENKE (Germany), Excellence IT (UK), Foxway (Sweden), and Apple (US) among others .

North America accounted for the largest size of the device-as-a-service market. North America has always been at the forefront in adopting new and innovative technologies, such as device-as-a-service solutions. The market in this region provides a suitable environment, in terms of government regulations and compliance, for startups and small and medium-sized enterprises.  IT and telecommunication, healthcare, and banking, financial service, and insurance (BFSI) are some of the major end users in the region. This region is home to some of the major device-as-a-service providers such as HP, Dell, Microsoft, and CompuCom. The service providers, ranging from small businesses to multinational companies, in this region have extensive expertise in managing infrastructure and maintaining operations. The high demand for mobile devices in various industries is a dominant driving force substantiating the market growth in the region. Digital transformation in the region is driving investment in mobile devices, security and hosted services; this trend is further likely to create opportunities for device-as-a-service vendors.

The smartphones and peripherals segment is expected to grow at the highest CAGR during the forecast period. IT executives are reluctant to deliver controls of departmental assets unless pressurized to do so. In an office workstation, younger employees prefer the use of mobile devices. Moreover, most employees collaborate with each other through their smartphones. DaaS solutions for smartphones offer organizations the benefits of lower costs, access to recent technologies, more predictable prices, and strong enterprise security. The demand for smartphones has been flattening out over the past few years. However, new paradigms like device-as-a-service, where users pay subscription fees to have the latest devices at all times, could change things.

The hardware segment is expected to continue to dominate the device-as-a-service market during the forecast period. The market for hardware is expected to grow significantly due to the increasing interest of enterprises in different types of hardware solutions such as laptops, notebooks, and desktops combined in a single offering. Moreover, IT infrastructure can quickly become outdated, and it becomes a boon for small and mid-sized companies that cannot afford to upgrade technologies every few years. Thus, leasing of hardware is a highly used service.