HVDC Transmission Market Report Industry Analysis and Forecast in 2024

HVDC transmission market report share is projected to reach USD 12.3 billion by 2024 at a CAGR of 6.9% during 2018–2024. Major drivers for the market’s growth are optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission.

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.

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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.

The HVDC transmission market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For instance, 2 of the world’s most powerful and longest HVDC power transmission highways, each with a nominal rating of 3,000 MW, are currently being installed in China. These factors are projected to fuel the HVDC market in APAC in the coming years.

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). ABB is a key player in the global HVDC market. The company pioneered the HVDC technology more than 60 years ago and has bagged over 110 HVDC projects, representing over 120,000 MW of total installed capacity and accounting for around half of the globally installed HVDC base.

Hospital Management Software (HMS) Market Size, Share, Industry Analysis, Growth Drivers

In today's rapidly evolving healthcare landscape, hospitals and medical institutions are constantly seeking innovative solutions to enhance patient care, improve operational efficiency, and streamline administrative tasks. One such solution that has gained significant traction is Hospital Management Software (HMS). This comprehensive software platform integrates various functions within a healthcare facility, facilitating seamless communication and collaboration among different departments. In this blog, we will explore the key features, market trends, and benefits of HMS, with a particular focus on the insights provided by MarketsandMarkets' report on the Hospital Management Software market.

Key Features of Hospital Management Software

Hospital Management Software serves as a centralized repository for managing diverse aspects of hospital operations. The software typically includes modules for electronic health records (EHR), appointment scheduling, billing and invoicing, inventory management, pharmacy management, laboratory information system (LIS), and more. These modules are interconnected, enabling efficient data sharing and real-time updates. Moreover, advanced HMS solutions often incorporate artificial intelligence (AI) and machine learning (ML) capabilities, allowing for intelligent data analysis, predictive analytics, and decision support.

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Market Trends and Insights

According to the MarketsandMarkets report, the global Hospital Management Software market is projected to grow at a significant compound annual growth rate (CAGR) over the forecast period. This growth can be attributed to several factors, including increasing digitalization in healthcare, rising demand for cost-effective solutions, and the need for better patient outcomes. The report highlights that the cloud-based deployment segment is expected to witness substantial growth due to its scalability, cost-effectiveness, and ease of implementation.

Another notable trend identified in the report is the integration of mobile applications with HMS, enabling healthcare providers to access critical patient information, schedule appointments, and communicate with patients remotely. This shift towards mobile technology enhances accessibility, patient engagement, and care coordination, ultimately leading to improved patient satisfaction.

Benefits of Hospital Management Software

The adoption of Hospital Management Software offers numerous benefits for healthcare providers, administrators, and patients alike. Firstly, it streamlines administrative processes by automating tasks such as appointment scheduling, patient registration, and billing. This not only reduces paperwork but also minimizes the chances of errors and enhances operational efficiency.

Secondly, HMS improves the quality of patient care by enabling healthcare providers to access patients' medical records, test results, and treatment history at any time. This comprehensive view of patient data enhances clinical decision-making, facilitates better care coordination, and reduces the risk of medical errors. Furthermore, advanced HMS solutions leverage AI and ML algorithms to identify patterns, trends, and potential risks, enabling early intervention and personalized care.

Moreover, Hospital Management Software optimizes resource utilization by effectively managing inventories, tracking equipment maintenance, and streamlining workflows. This leads to cost savings and improved resource allocation, ensuring that hospitals can provide quality care while optimizing operational expenses.

Hospital Management Software is revolutionizing the healthcare industry by providing a comprehensive, integrated solution to manage various hospital operations efficiently. As highlighted by MarketsandMarkets' report, the HMS market is witnessing robust growth, driven by factors such as digitalization, cost-effectiveness, and the demand for improved patient outcomes. The incorporation of mobile applications and advanced technologies like AI and ML further enhances the capabilities of HMS, empowering healthcare providers to deliver exceptional patient care.

Scintillator Market – Global Industry Trends and Forecast to 2028

Scintillators, a type of material that emits light when exposed to radiation, play a vital role in various industries, including healthcare, defense, and nuclear power. 

The scintillator market is witnessing significant growth as advancements in detection and imaging technologies continue to drive demand. Scintillators are employed in radiation detection systems, medical imaging devices, and scientific instruments, enabling precise measurements, accurate imaging, and efficient analysis. In this article, we will explore the key trends and drivers shaping the scintillator market and the crucial role these materials play in advancing detection and imaging technologies.

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Growing Demand for Radiation Detection:

The need for effective radiation detection is increasing across sectors, including healthcare, nuclear power, and industrial safety. Scintillators serve as key components in radiation detection systems, converting radiation energy into detectable light signals. They enable the measurement and identification of various types of radiation, including gamma rays, X-rays, and neutrons. The ability of scintillators to provide accurate and real-time radiation detection is crucial for ensuring worker safety, environmental monitoring, and the effective management of radiation sources.

Advancements in Medical Imaging:

Medical imaging techniques, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT), heavily rely on scintillators for accurate image acquisition. Scintillators help convert radiation emitted by radiopharmaceuticals into detectable light, enabling the visualization of internal organs, tissues, and abnormalities. The demand for precise and high-resolution medical imaging is driving the development of scintillators with improved light yield, energy resolution, and time response. These advancements contribute to early disease detection, accurate diagnoses, and more effective treatment planning in the field of healthcare.

Nuclear Power Applications:

Scintillators play a critical role in the field of nuclear power, where radiation monitoring and safety are paramount. They are utilized in nuclear reactors, waste management facilities, and nuclear research laboratories for radiation detection, monitoring, and control. Scintillator-based detectors help ensure the safe operation of nuclear facilities by providing real-time radiation measurements, identifying potential leaks or breaches, and facilitating prompt response and mitigation strategies. The continuous advancements in scintillator technology contribute to enhanced safety measures and efficient management of nuclear power generation.

Shift towards Organic Scintillators:

While inorganic scintillators have traditionally dominated the market, there is a growing interest in organic scintillators due to their unique properties. Organic scintillators offer advantages such as high light yield, fast response times, and tunable emission wavelengths. They also exhibit improved radiation hardness, which makes them suitable for demanding environments, including high-energy physics experiments and space applications. The development of organic scintillators opens up new possibilities for customization and optimization, catering to specific application requirements and expanding the scope of scintillator-based technologies.

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Emerging Applications in Homeland Security:

The need for effective detection and identification of radioactive and nuclear materials has become crucial in the field of homeland security. Scintillator-based detectors are used in portable radiation monitors, border security systems, and cargo screening equipment to identify and prevent illicit trafficking of radioactive materials. These detectors enable the rapid and accurate identification of potential threats, ensuring the safety of borders, transportation networks, and critical infrastructure. The ongoing advancements in scintillator technology contribute to the development of more sensitive and compact detectors, enhancing security measures worldwide.

Organic Electronics Industry Growing USD 142.1 billion by 2028

The organic electronics market is projected to grow from USD 59.9 billion in 2023 to USD 142.1 billion by 2028, registering a CAGR of 18.9% during the forecast period according to a new report by MarketsandMarkets™. The growth of the organic electronics market is driven by various factors, including technological advancements, rising demand for flexible and lightweight devices, increasing adoption of OLED display panels, emerging end user such as automobile and healthcare, and cost-effectiveness. These factors collectively contribute to the expanding market opportunities for organic electronic devices, fostering innovation and driving the adoption of this technology in diverse industries.

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Browse in-depth TOC on "Organic Electronics Market" 

120 – Tables

60 – Figures

240 – Pages

By material, the conductive material holds the second-largest market share during the forecast period

Conductive materials play a crucial role in a variety of organic electronic devices, including touch screens and RFID (Radio Frequency Identification) tags. These devices rely on the conductivity of materials to enable their functionality and performance. In touch screens, conductive materials are used in the construction of transparent electrodes that allow for accurate touch sensing. Indium tin oxide (ITO) has traditionally been used as a conductive material in touch screens. However, organic conductive materials, such as conductive polymers and carbon nanotubes, are gaining attention due to their flexibility and potential for lower manufacturing costs. RFID tags also utilize conductive materials to enable wireless communication and data transfer. Conductive inks or conductive polymers are often employed to create the antennas and circuits necessary for RFID functionality. These materials enable the transmission and reception of radio signals, allowing for identification and tracking in various applications, including supply chain management, inventory control, and access control systems.

The consumer electronics segment is likely to account for the largest market share between 2023 and 2028.

Consumer electronics is the largest market for organic electronics. This is primarily because organic electronic components and devices, such as OLED displays and organic photovoltaic cells, have found widespread use in a variety of consumer electronic products. Smartphones are one of the key drivers of the organic electronics industry in the consumer electronics sector. OLED displays, in particular, have gained significant popularity in smartphones due to their superior image quality, energy efficiency, and thin form factor. Major smartphone manufacturers have adopted OLED displays in their flagship devices, driving the demand for organic electronic components. Televisions are another significant application area for organic electronics in the consumer electronics market. OLED technology has revolutionized the television industry, offering exceptional picture quality, wide viewing angles, and slim designs. OLED TVs have gained recognition for their ability to produce deep blacks, vibrant colors, and high contrast ratios. Laptops and tablets also incorporate organic electronic components, such as OLED displays and organic photovoltaic cells. Organic electronics devices' lightweight and energy-efficient nature makes them attractive for portable computing devices.

The consumer electronics market continues to drive the demand and adoption of organic electronics due to the increasing consumer preference for devices with superior display quality, energy efficiency, and innovative designs. As technology advancements continue to enhance the performance and cost-effectiveness of organic electronic components, their usage in consumer electronics is expected to expand further in the coming years.

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North America is likely to account second-largest market share in the global organic electronics market during the forecast period.

During the forecast period, North America is expected to hold the second-largest market share in the organic electronics market. This can be attributed to several factors contributing to the region's growth and market presence. Firstly, North America is home to a significant number of established technology companies, research institutions, and innovative startups. These entities drive the development and commercialization of organic electronic technologies, contributing to the region's market share. Secondly, North America's technologically advanced consumer electronics industry fuels the demand for organic electronic devices. The region is a significant market for smartphones, tablets, laptops, and other consumer electronic products, where the adoption of organic electronic components, such as OLED displays, is on the rise. Thirdly, government initiatives and investments in research and development further support North America's organic electronics market growth. Funding for academic research, collaborations between industry and academia, and supportive policies contribute to advancing and commercializing organic electronic technologies.

Moreover, North America strongly focuses on sustainability and energy efficiency, driving the adoption of organic electronic devices that offer these benefits. The region's emphasis on eco-friendly technologies and the growing demand for renewable energy solutions, such as organic photovoltaics, also support the market expansion.

Key Players

Merck KGaA (Germany), BASF SE (Germany), Covestro (Germany), DuPont (US), AUO Corporation (Taiwan), Sony Corporation (Japan), Samsung Display (South Korea), LG Display Co., Ltd. (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Universal Display Corporation (US), Konica Minolta, Inc. (Japan), and Novaled GmbH (Germany) are the dominant companies in the organic electronics companies.

Revenue Generation in the EMC Testing Industry - Market Overview, Applications and Drivers

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

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

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

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

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

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

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

Key Market Players

Key players in the EMC testing market include SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg), DEKRA (Germany), Fortive(US), and Keysight Technologies (US). Intertek is a well-known player for providing innovative and customized EMC testing solutions in the market.

Smart Clothing Market Demand - Growth Trends, and Forecast

Smart clothing market is projected to reach USD 5.3 billion by 2024, at a CAGR of 26.2% during forecast period. The market is driven by rising demand for monitoring bodily activities through sensors and increasing the adoption of smart clothes for various end-user industries. Growing awareness about the need for sports & fitness is expected to provide substantial growth opportunities to players in this market.

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

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

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

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

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

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

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

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

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

Computational Photography Market Trends, Opportunities and Challenges 2024

Computational photography market report share is estimated to be valued at USD 10.7 billion in 2019 and is projected to reach USD 29.0 billion by 2024, growing at a CAGR of 22.0% during the forecast period.

The growth of the smartphone market mainly drives the progress of the computational photography market in North America. Moreover, the presence of market leaders such as Alphabet Inc. (Alphabet) (US), Apple, Inc. (Apple) (US), Light (U.S.), NVIDIA Corporation (NVIDIA) (US), and Qualcomm, Inc. (Qualcomm) (US) is also contributing significantly to the growth of the market in North America. The market in APAC is expected to grow at the highest CAGR during 2019 and 2024 due to higher consumer spending on the latest smartphones.

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The market growth of camera modules is attributed to the use of AI-based advanced cameras and the growing demand for arrays of cameras in a single product. The hardware and software of each computational camera are typically designed to produce a particular type of image. The captured image is optically coded. The computational module has a model of optics, which it uses to decode the captured image to produce a new type of image that could benefit a vision system.

The computational photography market is driven primarily by the rising sales of smartphones equipped advanced cameras with artificial intelligence capabilities. Smartphone-based computational cameras are displaying significant changes in the market. There is a high impact of computational cameras in the smartphones market. Computational photography is now evolving in smartphones such as Apple, Google, and Samsung.

The trend of sharing images and videos using advanced media sharing technologies is a significant aspect of social networking on a global basis within the smartphone and multimedia tablet ecosystem. Also, the enhancement in the image resolution of sensors along with the technological advancements in camera modules, components, and design is driving the market. The growing demand for superior vision technology in the computer vision industry is expected to lay new growth opportunity for computational cameras industry growth during the forecast period.

Critical Communication Market Size, Growth Drivers, Industry Analysis 2024

Critical communication market report share is expected to grow from USD 13.9 billion in 2019 to USD 19.8 billion by 2024, at a CAGR of 7.4%.

Advanced features of critical communication network, increase the need to modernize old equipment, and high demand for critical communication solutions from diverse industries such as public safety, transportation & medical are the major driving factors for the market’s growth during the forecast period.

Owing to factors such as the critical communication infrastructure includes group calling, rapid voice call setup, and high-quality audio and video. Complex systems incorporating trunking and digital capabilities enable multiple features, such as video conferencing and real-time HD videos. Also, modern critical communication networks have state-of-the-art features such as multi-network operation with spectrum sharing techniques, network security capabilities, temporary deployable systems, and quality of services.

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Hardware to dominate critical communication market during the forecast period

A few of the vital components forming a critical communications system are command and control systems, infrastructure equipment, and end-user devices. Hardware is expected to hold a larger share of the critical communication market, because of the rising demand from the ongoing as well as new deployment of critical communication networks in various end-use verticals such as public safety, transportation, utilities, mining, others. Moreover, major developments in oil and gas plants to improve their operations through intrinsically safe and highly reliable networks and concerns toward public safety and security are the key factors fueling the growth of the market.

LTE technology to account for the highest demand in the critical communication market during the forecast period

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). As a result, public safety agencies are replacing their narrowband public safety networks with LTE-based networks.

North America to hold a major share of the critical communication market during the forecast period

North America is currently leading the global critical communication industry, followed by Europe and Asia Pacific, mainly due to ongoing technological advancements and rising adoption of digital LMR products by government and commercial sectors. The US government made the interoperability standard available to ensure efficient use of LMR technology products and fast and uninterrupted communication in case of catastrophic situations, such as the September 11 attack or Hurricane Katrina. North America is considered to be the most advanced region with regard to the adoption of critical communication technology and infrastructure. The protection of critical infrastructure is considered to be the most severe economic and national security challenge by the government of these countries.

Critical Communication Market Key Players:

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).