Commercial Lighting Market Dynamics: Future Trends and Key Players Analysis

The commercial lighting market is projected to reach USD 21.8 billion by 2025 from USD 8.2 billion in 2020; it is expected to grow at a CAGR of 21.5% during the forecast period.

The most significant factors driving the growth of this market are the ongoing and upcoming smart city projects in the developing countries, growing focus of governments worldwide on energy consumption, increasing acceptance of standard protocols for lighting control systems, escalating demand for LED lights and luminaires for use in outdoor applications, and surging use of integrated lighting control systems.

Signify (Philips Lighting) (Netherlands); Legrand S.A. (France); Acuity Brands, Inc. (US); GE Current, a Daintree Company (US); OSRAM Licht AG (Germany); Leviton Manufacturing Company, Inc. (US); Lutron Electronics (US); Hubbell Incorporated (US); LEDVANCE GmbH (Germany); Schneider Electric SE (France); Ideal Industries, Inc. (Cree Lighting) (US); and Zumtobel Group (Austria)  are a few major players in the commercial lighting market.

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Opportunity: Rapid transition from traditional lighting to connected lighting solutions

In recent years, there has been a rapid shift from conventional lighting systems to connected lighting systems due to various advantages offered by connected lighting solutions, such as increased energy efficiency, improved ambiance at the workplace, and cost savings in the long run. Connected lighting devices are well known for their energy efficiency. These devices consume less power and have a long life, thereby reducing maintenance and replacement costs. Most of the connected lighting solutions consist of wireless sensors and switches that provide flexibility in lighting control operations, whereas conventional lighting solutions do not have these features. The introduction of wireless lighting controls has boosted the market for retrofit lighting systems, which, in turn, has increased the demand for lighting control systems. Wireless lighting control solutions have not only reduced the use of wires but also helped avoid reconstruction of existing buildings.

Challenge:  Interoperability issues between different network components

At present, the biggest concern in the lighting control ecosystem is the availability of solutions with multiple interoperable technologies. End-users need to choose a suitable lighting control solution from a wider range of available solutions but, the lack of uniform standards makes it challenging to integrate the available solutions. The incompatibility of various components and the lack of interoperability create problems for end-users. Traditional lighting control systems usually consist of hardware and software manufactured by the same manufacturer, whereas different manufacturers develop controls in connected lighting solutions. This creates interoperability issues, causing problems for communication between various network components of a lighting system. Hence, there is a need to establish standard protocols to develop compatible products. Several organizations such as the Connected Lighting Alliance (TCLA) and the ZigBee Alliance are trying to standardize the protocols used in connected lighting technology so that luminaires could be used to collect and share data for analytics purposes.

Automatic Identification and Data Capture Market Size, Dynamics & Industry Growth Analysis

The overall AIDC market is expected to grow from USD 40.1 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 14.9% during 2020–2025.

Key factors fueling the growth of this market include growing e-commerce industry globally; increasing use of smartphones for QR code scanning and image recognition; rising adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience to users in making small-value payments; and surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy.

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Opportunity: Imposing governments regulations for adoption of AIDC solutions

Government institutions across the world adopt automatic identification and data capturing technologies, such as biometrics and smart cards, for identification and verification applications. The US is the pioneer in adopting biometric solutions. According to a report submitted by the US Government Accountability Office (GAO), the Department of Homeland Security expenditure exceeded USD 13 billion in 2015. The governments of technologically advancing nations, such as India and China, are committed to improving the quality of services in public safety and healthcare sectors. The Government of India has introduced unique identification cards (Aadhaar) in which biometrics technology is used to provide a unique identification number to every citizen, which has created a massive opportunity for biometric technology in India. In January 2018, the Government of India also added face authentication technology, along with iris and fingerprint authentication technologies in Aadhaar.

Challenge: Malware attacks and security breaches

Security issues such as malware attacks or data duplication are among a few of the major challenges faced by the automatic identification and data capture products, ultimately creating challenges for the players in this market. These security lapses undermine the objective of the implementation of automatic identification and data capture technologies, particularly biometrics, whose sole purpose is to offer enhanced and an extra layer of security. A biometric system consists of image capture and processing devices, communication channels, and databases, which are subject to a wide spectrum of replay attempts and other forms of adversary attacks. The biometric sample captured in the access control application can be intercepted and misused to enable illegitimate authentication.

Industrial Agitators Market Dynamics: Current and Future Trends | Forecast till 2028

The global industrial agitators market size is estimated to be worth USD 2.6 billion in 2023 and is projected to reach USD 3.2 billion by 2028, at a CAGR of 4.0% during the forecast period. 

Increasing demand for homogeneous mixing, growing need for energy efficient mixing equipment or industrial mixer in pharmaceutical, chemical and food & beverage industries, and growing adoption of customized industrial agitators are some of the major factors driving the industrial agitators market growth globally.

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Driver: Growing need for energy efficiency, flow maximization, rapid mixing, waste reduction, and other advancements
The increasing requirement of optimizing mixing processes is pushing industrial agitator companies to develop industrial mixer that helps achieve low power consumption, flow maximization, rapid mixing, and other advancements. Mixing, blending, fluid handling, separation, thermal heat transfer, and other processes are integral to companies for production and manufacturing across various industries, such as chemical, food & beverage, pharmaceutical, and other industrial markets. Rapid innovations and emerging trends in industrial mixer application are driving the need for more energy-efficient, speedy mixing and low costs mixing/agitation technologies in the said market.

Opportunity: Rising usage of industrial mixing technologies in several applications
Advancements in technology have led to the development of more efficient and effective industrial mixer that can offer greater control and precision in mixing. As more industries seek to improve their manufacturing processes and achieve greater product consistency, the demand for industrial mixer is increasing.  This presents an opportunity for agitator companies to offer new and improved mixing equipment that can meet the needs of industries looking to optimize their manufacturing processes. Furthermore, there is a growing need for customized mixing solutions that can meet specific requirements. This presents an opportunity for agitator companies to offer specialized products that can be tailored to meet specific needs of different industries such as pharmaceutical, chemical and food & beverage. In June 2022, considering the increasing importance of using industrial agitators and industrial mixer in different industrial processes, Sulzer launched its latest addition to the SALOMIX industrial agitator family, the SSF150.

Challenge: Emerging trend of renting industrial mixer due to high costs or shorter time span usage
Users or purchasers of industrial agitators or industrial mixer may look for options other than capital purchases. If a client is not able to afford the industrial mixer or needs the industrial mixer for a shorter time, then renting industrial mixer can be considered the most reliable option.  This is one of the suitable alternatives garnering attention in the industrial agitators market for rental industrial agitators/industrial mixer. Rental industrial mixer offers a fast and cost-effective way of fulfilling the need without the high cost of a capital purchase, allowing purchasers to fulfill their mixing needs at a fraction of the original industrial mixer cost. This would largely benefit the buyers at a time when most of the end-user industries are considering or have already slashed their capital expenditure budgets.

Rapid Liquid Printing Market Growth Drivers and Key Players [2022-2027]

The rapid liquid printing market size is expected to grow from USD 48 million in 2023 to USD 284 million by 2027 at a CAGR of 55.6% from 2023 to 2027.

Fastest printing among all 3D printing technologies, ability to print using industrial-grade materials, and ease of development of customized products are some of the major factors driving the growth of the rapid liquid printing market.

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Key Market Players
Steelcase (US), Stratasys (US), 3D Systems (US), Materilise (Belgium), ExOne (US), EOS (Germany), Dassault Systemes (France), Autodesk (US), Native Canada Footwear (Canada), and BMW (Germany) are among a few major players operating in the rapid liquid printing market.

Stratasys (US) is one of the leading providers of additive manufacturing solutions for rapid prototyping and direct digital manufacturing (DDM). It also develops, manufactures, and markets materials for 3D plastic printing marketplace, along with related services. Stratasys is one of the major multidisciplinary 3D technological leadership companies and has the advantage of its proprietary 3D printing technologies, including FDM- and inkjet-based PolyJet printing processes. The company also focuses on the expansion of its Stratasys Direct Manufacturing (SDM) services, which was formed in February 2015 by combining Solid Concepts, Harvest Technologies, and RedEye Services. The company intends to explore these advantages to further explore applications in various industries for its products. It is also planning to expand its SDM platform, where it can serve customers and create awareness about Rapid Prototyping and DDM. The strategy of the company to lead by innovation and increase its geographical presence is expected to support its growth.

3D Systems (US) is among the leading players in the 3D printing industry. It has its patented SLA technology alongside various other technologies, such as SLS, DMP, MJP, film transfer imaging, and color jet printing technology, which provide it with a strong technological advantage. The presence of 3D Systems in multiple industries, such as aerospace, automotive, defense, healthcare, and manufacturing, shows broad applications and capabilities of its products and its image as a diversified company. With frequent technological upgrades in its offerings and the addition of more supply chain partners, 3D Systems further explores new application areas and extends its reach toward unexplored regions.

Public Safety-LTE Market Size, Growth Drivers, Outlook and Market Dynamics

The Public safety LTE market is expected to be valued at USD 5.9 billion in 2020 and is likely to reach USD 15.4 billion by 2025; it is expected to grow at a CAGR of 21.1% during the forecast period. Increase in demand for unmanned vehicles globally and adoption of LTE technology to eliminate the existing interconnectivity issues between different networks seamless data connectivity offered by LTE technology are driving the growth of the PS-LTE market during the forecast period.

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Driver: Need for efficient and extensive network capacity driven by COVID-19 pandemic

Since the outbreak of the COVID-19 pandemic, every country initiated a nationwide lockdown to control the spread. The organizations responsible for the health and safety consequences of the COVID-19 pandemic are the first responders consisting of paramedics, firefighters, and the police, along with doctors, nurses, and other officials. These responders need more radios and network capacity to work effectively for mitigating this global crisis. The healthcare workers and the police especially need more communication terminals and network capacity to adequately monitor the outbreak.

Opportunities: Adoption of LPWA connectivity technologies in LTE

Presently, low-power wide-area (LPWA) technologies such as LoRa and narrowband IoT (NB-IoT) are limited to IoT applications such as smart meters and smart parking. Large-scale adoption of these LPWA technologies in public safety applications is expected to offer growth opportunities for different stakeholders. Frequent broadcast of sizeable payloads and mobility support are the 2 major applications of LPWA technologies in public safety. In February 2019, AT&T started the evaluation of LTE for machines or LTE-M for the public safety networks of the US through FirstNet. The company is evaluating the adoption of LTE-M to ensure the quality of service, priority, and preemption (QPP) on LTE networks. In May 2019, KT and Samsung partnered to deploy NB-IoT in South Korea by 2020 for different public safety applications.

Challenges: High costs of developing and maintaining LTE network infrastructures

The key components of PS-LTE solutions are end-use devices, radio access networks (RANs), backhaul networks, EPC, and application and operation support systems. These solutions are customized according to the applications wherein they are to be used or depending on the requirements of public safety agents and authorities. A dedicated LTE spectrum, cleared of any previous service, is a prerequisite for a public safety model. It requires long planning cycles and high investments. Significant upfront investments are required for developing and maintaining a dedicated network. If the allocated spectrum band is not in use in the commercial sector, costs/CAPEX of the entire system, including that of network elements and devices increase.

Market Outlook and Key Players in the Precision Planting Market

The global precision planting market size is estimated to be USD 5.0 billion in 2022 and is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.3% during the forecast period.

Some of the major factors contributing to the growth of precision planting market includes the substantial cost-savings associated with precision planting and seeding equipment, surge in the adoption of advanced technologies in precision agriculture to reduce labour cost, and increasing promotion of precision planting techniques by governments worldwide. Moreover, climate change and need to meet rising demand for food will also drive the growth of the industry in the near future.

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Driver: Substantial cost-savings associated with precision planting and seeding equipment

Precision planting and seeding equipment, when used to their maximum potential, can ensure high returns in agribusiness. Planting and seeding equipment offer precision, which assists in ensuring accurate depth of sowing and equidistant arrangement of seeds. The launch of precision planting and seeding equipment with advanced features such as smart connector systems, controllers, and liquid control and delivery systems has also assisted in boosting the adoption of these equipment. Precision planting and seeding equipment help farmers obtain uniformity of seeds and ensure control over the depth of seed placements.

Opportunities: Integration of smartphone applications with precision planting equipment

Presently, around 3.8 billion people in the world use smartphones, which is 48% of the global population. China, India, and the US are the countries with the highest number of smartphone users. Smartphones comprise multiple user-friendly applications that help them ease their day-to-day work. Similarly, they are helping farmers by providing information about weather and climate conditions to enable quick and effective decision-making. Most agriculture-based companies are nowadays developing mobile-based applications for farmers to make their work easier. These smartphone applications are linked to hardware, such as sensors, GPS receivers, and cameras to collect images, samples, and field data. Furthermore, they are connected to software to display the collected data and help farmers in quick decision-making. Mobile-based applications are helping farmers to save time and money. Farmers are using smartphones for routine day-to-day tasks, such as checking watering equipment, identifying weeds and pests, and checking the prices of commodities.

Challenge: Unavailability of single platform for integration of farm data

Various interfaces, technologies, and protocols are used in precision planting equipment. Data representation is hindered by the lack of technological standardization and the difficulty of integrating systems. In order for the precision planting market to grow, data integration on a single platform is a major challenge. A high volume of relevant data is regularly generated by precision planting from a variety of sources. The majority of these data relate to mapping, variable rate seeding, soil testing, weather change, yield monitoring, and historical crop rotation. Precision planting relies entirely on this data for assessing farm conditions and making decisions, so it must be properly integrated into a single platform.

Occupancy Sensor Market Insights, Trends, and Market Dynamics

The occupancy sensor market was valued at USD 2.2 billion in 2019 and is projected to reach USD 3.6 billion by 2025; it is expected to grow at a CAGR of 13.3% from 2020 to 2025. Occupancy sensors are widely used in applications such as lighting, HVAC, and security and surveillance systems. They are now being integrated into consumer electronics such as PC.

Occupancy sensors are based on primarily 3 types of technologies—passive infrared, ultrasonic, and dual technology, which is a combination of passive infrared and ultrasonic. There are also other emerging types of occupancy sensors, including Doppler sensor, which is similar to radar sensors, RF sensors, and microwave-based occupancy sensor.

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Driver: Growing demand for energy-efficient devices

One of the major reasons for the adoption of occupancy sensors is its growing demand for energy-efficient devices in various industries (residential buildings and commercial buildings). In addition, energy saving is considered to be among the most important factors for the development of occupancy sensors in the market. Applications such as lighting control, HVAC systems, and security surveillance mainly utilize occupancy sensors to reduce the level of energy consumption.

Restraint: Inconsistency issues related to wireless network systems

Connecting an occupancy sensor with other control systems such as lighting control systems and HVAC control systems occasionally creates problems. This is mainly due to incompatibility issues when an occupancy sensor working on certain wireless protocol is connected to a lighting and HVAC control system working on another wireless protocol. For instance, if an internet-enabled system uses ZigBee technology to communicate with smart control systems and if all the lighting devices are connected to a common network, then the entire network needs to be integrated with a similar wireless technology that is compatible. It has been observed that the lighting industry, at present, lacks a unified approach when it comes to wireless connectivity.

Opportunity: Promotion of green building by governments

Energy efficiency to achieve reduced carbon emissions and energy consumption has become one of the major priorities of many countries. The governments in the US, Canada, and Mexico have always been promoting green environment, which has resulted in a large number of smart homes in North America. Over the past few years, the governments of European countries have also been taking initiatives to adopt energy-efficient measures across the region. Regulations stated by the government are in favor of home automation systems. The governments in China, India, Japan, and South Korea are also supporting digitization and eco-friendly measures to a considerable extent. The awareness regarding the adverse effects of global warming further drives the usage of automated home energy management systems. Such government initiatives will aid in the growing trend of smart home and smart home lighting control system, which includes occupancy sensors.

Challenge: Lack of awareness regarding benefits of occupancy sensors

Adoption of occupancy sensors is lower than other lighting technologies such as motion sensors and vacancy sensors. It suffers from the difficulty of accurately predicting the occupancy of the occupant. The performance of an occupancy sensor is dependent on user occupancy, lighting control patterns, and sensor selection. Additionally, it is also considered to be expensive, and the awareness regarding cost-related benefits of occupancy sensors is low. This acts as a challenge for the occupancy sensor market as it affects the penetration rate in developing and underdeveloped economies. However, with the emphasis from government and increasing awareness regarding energy saving, it is expected to lead consumers toward adopting and implementing occupancy sensors by 2020.

3D Machine Vision Market Dynamics, Size, Share, Revenues, Opportunities

The 3D machine vision market was valued at USD 1.5 billion in 2020 and is projected to reach USD 2.4 billion by 2025; it is expected to grow at a CAGR of 9.4% from 2020 to 2025.

The rising awareness of consumers about product quality has led to an increased demand for quality inspection and automation of end products. A growing number of companies are focusing on automation systems to reduce their production costs post-COVID-19 But due to the lockdown across countries, companies are facing severe cash flow issues and are deferring new projects related to the implementation of 3D machine vision in their factories.

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Drivers: Increasing need for quality inspection and automation

Manufacturing companies across the globe are planning to invest more on automation post COVID-19. Also, the need for automated quality assurance has increased as industries have realized its importance in manufacturing processes. This need is however further elevated due to the COVID-19 outbreak due to less intervention by human involved in the process. This has resulted in the widespread acceptance of machine vision as an integral part of long-term automation development processes.

Growing demand for vision-guided robotics systems

Recently, vision-guided robotics systems have led to significant changes in the machine vision market. There has been a rapid growth in the use of industrial robots for automation in the automotive and consumer electronics sectors. This is leading to an increasing need for the integration of machine vision systems with vision-guided robot controllers. Machine vision systems enhance the efficiency of robots by allowing them to see and respond to their environments.

Restraints: Varying end-user requirements

The importance of 3D machine vision is likely to increase in the manufacturing sector, as the industry undergoes a gradual transition from product standardization to product customization. It is difficult to develop a standard machine vision system, as there are several manufacturing industries to cover, and specifications differ based on individual customer requirements.

Explosion Proof Equipment Market Research: Current State and Future Prospects in 2030

The Explosion proof equipment market report size is projected to reach to USD 9.9 billion by 2025, at a CAGR of 5.9% during the forecast period. Factors such as the increasing industrial safety measures and rising energy requirements are driving the explosion proof equipment industry.

The major players in the explosion proof equipment market are Siemens (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), and Eaton Corporation Plc (Ireland).

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Honeywell International, Inc.
Honey well International is a multinational company, founded in 1906 and headquartered in New Jersey, US. The company offers a variety of commercial and consumer products and engineering services.

With respect to the explosion proof equipment market, Honeywell provides hazardous area limit switches and sensors. These are tailored to the exact specifications for superior performance, extended productivity, and increased safety. These products are designed for a wide range of industrial applications, from mud pumps, valve positioning, and pig position detectors to gate/door monitoring systems and conveyors.

ABB Ltd.
Founded in 1988 and headquartered in Zurich, Switzerland, ABB Ltd. is a multinational company founded after the merger of Allmanna Svenska Elektriska Aktiebola – ASEA (Sweden) and Brown, Boveri & Cie – BBC (Switzerland). ABB Ltd. is a global leader in power and automation technologies. The company operates through five business segments, such as electrification, motion, industrial automation, and robotics & discrete automation.

Its explosion proof equipment line of products includes motors, generators, hazardous area lighting & emergency lighting, cable glands, and switches. These offerings are used across industries such as oil & gas, chemicals & pharmaceuticals, food & beverages, and mining & minerals.

Network Attached Storage Market Dynamics: Global Size and Share Analysis 2023-2038

The Network Attached Storage market is projected to grow from USD 25.7 billion in 2022 to reach USD 51.0 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.1% from 2022 to 2028.

Rising data generation with surge in use of mobile computing devices, surging adoption of Internet of Things (IoT) technologies and connected devices, and growing use of 5G technology are the factors driving the growth of the NAS market.

Key players in the NAS market are Dell Technologies Inc. (US), NetApp, Inc. (US), Hewlett Packard Enterprise Company (US), Hitachi, Ltd. (Japan), Western Digital Corporation (US), Seagate Technology Holdings Public Limited Company (US), NETGEAR, Inc. (US), Synology Inc. (Taiwan), Buffalo Americas, Inc. (US), Pure Storage, Inc. (US), and QNAP Systems, Inc. (Taiwan).

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Opportunity: Increasing adoption of hybrid cloud storage
The growing amount of unstructured data sets is the output of increased internet usage. This unstructured data is in the form of audio files, videos, or images. However, storing this data safely and securely has become a tough task. Cloud storage has become vital with the rapid growth in data generation. Hybrid NAS solutions are a combination of traditional NAS devices and cloud storage. They enable the creation of a virtual database where information can be stored in a single volume and accessed from anywhere. This, in turn, improves replication, remote mirroring, and data security. It also allows for data compressing to minimize space. With the help of hybrid NAS, companies can efficiently share and manage their critical data. With the increase in data volumes, the interest of customers and organizations is shifting toward adopting hybrid NAS.

Challenge: Lack of proper infrastructure to secure data
At present, the world is moving toward digitization; hence, data has emerged as a new, valuable asset. Increased data quantity has pressurized enterprises to get adequate infrastructure to secure and leverage the data generated. In the case of inappropriate or insufficient infrastructure, there is a threat of data loss or theft. Sometimes, implementing an apt infrastructure is costlier for enterprises. However, the growing demand for data security is forcing organizations to plan for proper infrastructure investments.

Distributed Acoustic Sensing (DAS) Market: Trends, Share, Analysis and Key Players by 2030

The global distributed acoustic sensing (DAS) market is estimated to grow from USD 462 million in 2020 to USD 792 million by 2025; it is expected to grow at a CAGR of 11.4%.

With increased digitization in the oil & gas industry, fiber optic sensing technology such as DAS technology has proven itself over the past decade. DAS systems are primarily used for downhole and pipeline monitoring in the oil & gas industry. Given the critical nature of monitoring operations in the oil & gas industry, DAS systems continue to hold significant importance in this field. This has led to the deployment of DAS systems in other industries such as military, infrastructure, and transportation, which is helping in propelling the growth of the market.

Major companies in the distributed acoustic sensing market are Schlumberger (US), Halliburton (US), Baker Hughes (US), OptaSense (UK), Future Fibre Technologies (Australia), Fotech Solutions (UK), Bandweaver (China), Hifi Engineering (Canada), Omnisens (Switzerland), and Silixa (UK). Apart from these, ofs (US) and Fibre Completion Services (Canada) are among a few emerging companies in the DAS market.

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Schlumberger (US) is one of the world’s leading providers of technologies for reservoir characterization, drilling, production, and processing for the oil & gas industry. It is one of the major suppliers of components (such as drills, sensors, and other electronic components adopted in oil & gas industry), integrated project management, and information solutions to the oil & gas exploration and production industry worldwide. Schlumberger operates through 4 business segments, namely, Reservoir Characterization, Drilling, Production, and Cameron.

Schlumberger operates in more than 85 countries across North America, South America, Europe/Commonwealth of Independent States (CIS)/Africa, the Middle East, and Asia. A few subsidiaries of Schlumberger include Schlumberger Antilles NV (Curacao), Schlumberger B.V. (Netherlands), OneSubSea SARL (Luxembourg), Schlumberger SA (France), Cameron International Corporation (US), and Schlumberger Oilfield Holdings Limited, BV (Netherlands).

OptaSense is a wholly-owned subsidiary of QinetiQ (UK), a leading science and engineering company operating in the defense, security, and aerospace markets. QinetiQ initially contributed to the early development of DAS technology along with OptaSense. OptaSense provides fiber optic solutions to deliver real-time insights for industries. The company provides solutions for pipelines, oil & gas (hydraulic fracture profiling, production monitoring, borehole seismic acquisition, and seismic processing), perimeters, borders, transportation, and power & utilities.

Sensor Patch Market - Industry Development, Analysis of Driving Factors and Growth Forecast to 2028

The sensor patch market is projected to grow from USD 1.2 billion in 2020 to USD 6.4 Billion in 2025, at a CAGR of 40.5% between 2020-2025. A sensor patch is a wearable patch that monitors and diagnoses physiological parameters that can be tracked and analyzed from a remote source. Sensor patches are attached to a human body for monitoring a range of vital signs and providing specific treatments when required.

Some of the major players in the sensor patch market are Abbott Laboratories (US), Medtronic PLCv (Ireland), DexCom, Inc. (US), iRhythm Technologies, Inc. (US), and Texas Instruments Inc. (US).

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Opportunity: Growing adoption of telehealth

Telehealth is an emerging concept in the healthcare sector that can change the current format of care and allow for accessing improved health outcomes in a cost-effective way. Telehealth is a provision and distribution of healthcare remotely using telecommunication technology. Under telehealth, remote patients can obtain clinical services more easily, and hospitals can provide emergency and intensive care services remotely. With the inclusion of more health monitoring wearables, the healthcare industry is moving toward telehealth. These devices can transmit health-related data from patients to doctors and vice versa. Sensor patches monitor, diagnose, and transmit the data wirelessly using various communication technologies, such as NFC and Bluetooth. These advancements help people with limited mobility and those living in remote areas, subsequently resulting in reducing the repetitive visits to hospitals and taking the healthcare industry to a new dimension. Moreover, the huge amount of data generated through the process of telehealth will help in achieving better outcomes from healthcare and scientific researches. Therefore, sensor patches, being inexpensive, flexible, and user-friendly, are expected to add a valuable contribution to telehealth.

Challenge: Issues related to data security due to connected medical devices

The wearable technology ecosystem is a data-driven concept. In wearable technology, a huge chunk of data is generated from wearable-enabled devices, sensors, and patches. With the growing use of this technology, the rate of data intrusions is also increasing rapidly. Wearable technology platforms are newly developed, and there is a lack of security standards. Data security and privacy have become major areas of concern for patients and medical service providers owing to the increasing global adoption of sensor patches. The vulnerability of connected medical devices in terms of personal information leakages acts as a challenge for the growth of the sensor patch market. With the proliferation of IoT-based connected medical devices in the global healthcare sector, these medical devices are exposed to the threats of cyberattacks. The connected nature of medical devices makes certain medical devices prone to hacking. Therefore, the manufacturers of such medical devices are required to adhere to stringent standards to ensure patient data privacy and safety. IoT-based sensor patches are hardware solutions that operate through wireless technology. The data collected by these devices is stored on the cloud. Since there is an increased chance of data hacking, patient data security becomes a high-focus area, which requires a significant amount of additional spending.

Battery Market Set to Grow Significantly with Advancements in IoT Technology by 2025

The Battery Market for IoT is projected to grow from USD 9.2 billion in 2020 to USD 15.9 Billion in 2025, at a CAGR of 11.6% between 2020-2025.

IoT can be defined as an interconnected system of various devices and sensors that organizations use for different business functions. Most of the IoT end-use applications require devices with miniature characteristics; therefore, these devices use small-sized batteries that are flexible and lightweight. These batteries can be cut, rolled, and customized into different shapes and sizes—without any loss of efficiency to complement the form of the product in which they are to be used. These batteries are used in several IoT applications, including smart cards, wearable devices, and smart monitoring devices.

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Opportunity: Development of new revenue streams for manufacturers of batteries owing to the launch of new IoT-enabled devices

The increasing adoption of IoT technology globally has enabled the development of controls to regulate the use of connected devices through a single, smart interface. There is increasing global penetration of this technology as several IoT-enabled devices are being launched daily. Several manufacturers that, include LG Chemical (South Korea), Samsung SDI (South Korea), and Panasonic (Japan), are scrambling to take advantage of IoT technology and enter the battery market for IoT. That results in developing new revenue streams for these large OEMs and ODMs.

Challenge: Development of cost-effective batteries

Batteries used in IoT-enabled devices are generally costlier than conventional batteries, especially the ones used in industrial applications. The manufacturing process of these batteries requires complex equipment and the cost of fabrication of the cells used by these batteries is high. Moreover, the prices of materials used for developing batteries used by IoT-enabled devices also play an important role in their overall costs. Developing cost-effective electrodes used by these batteries is a challenge for manufacturers to develop economical batteries. Hence, integrating these batteries into consumer electronics, wearable devices, etc., is a costly process.

Failure Analysis Market Is Booming Worldwide - Growth and Future Opportunities

The Failure Analysis Market is projected to USD 5.9 Billion by 2025 from USD 4.7 billion in 2022 at a CAGR of 8.3% during the forecast period. It was observed that the growth rate was 3.91% from 2021 to 2022. Focused Ion Beam Equipment segment is expected to grow at a highest CAGR of 6.13%.

Failure analysis equipment is responsible for animating and analyzing the root cause of a failure of a product, device, or system. The failure analysis market report covers several types of failure analysis equipment such as an optical microscope, scanning probe microscope, Transmission Electron Microscope (TEM), Scanning Electron Microscope (SEM), Focused Ion Beam (FIB), and dual beam system.

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Opportunity: Integration of microscopy with spectroscopy

The integration of microscopy with spectroscopy is expected to present major opportunities to research communities due to its wide variety of applications. For instance, combining Raman spectroscopy with atomic force microscopy or optical microscopy provides detailed information about nanoscale properties and composition. Other benefits offered by these combined techniques include precise alignment of the sample, optical signal transfer from the microscope to the spectrometer, and precise focus of the excitation light at the detection point. The high potential of combining microscopy technologies led to developments such as the introduction of the DXR2 Raman Imaging Microscope by Thermo Fisher Scientific. This instrument consists of an optical microscope integrated with a Raman spectrometer to obtain both traditional optical and spectrochemical images.

Challenge: Dearth of skilled professionals

Physicists and laboratory technicians can efficiently operate standard compound microscopes. However, with the development of advanced microscopes, the requirement for skilled personnel has increased. For example, atomic force scanning tunneling microscopes—widely used in nanotechnology—require physicists or technicians to have thorough interdisciplinary knowledge in the field of surface physics and surface analyses to study the characterization of biological and chemical compounds at the atomic or molecular level. The complexity of advanced microscopes makes the dearth of skilled professionals a key challenge to their use and adoption.

Thermal Printing Market Revenue, Opportunity, Value Chain and Forecast by 2032

The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% during the forecast period.

Rising utilization of automatic identification and data capture technologies for improving productivity, increasing concerns regarding product safety and anti-counterfeiting, increasing use of thermal printing technology in latest on-demand printing applications, rising penetration of wireless technologies in mobile printers, and growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry are the key driving factors for the thermal printing market.

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Which type of technology will be widely used in the thermal printer market?

In thermal printer market direct thermal printing technology is most widely used technology. Direct thermal printing technology is ideal for high-volume printing applications. This method is the easiest and most cost-effective solution for short-term applications and for labels meant for temporary use, such as shipping labels and food packaging labels. This is one of the major factors that has led to the leading position of the direct thermal printing technology in the thermal printer market.

Which region is expected to witness significant demand for thermal printers in the coming years?

North America currently accounts for the largest share of the thermal printing market, and a similar trend is likely to be observed in the coming years. Among all applications, retail, transportation & logistics, manufacturing & industrial, and healthcare & hospitality are the major application areas in which thermal printers are used in the region. Several companies offering thermal printers and supplies have their presence in this region, which further adds to the growth of the thermal printing market in North America.

Which are the major companies in the thermal printing market? What are their major strategies to strengthen their market presence?

Zebra Technologies (US), SATO Holdings (Japan), Seiko Epson (Japan), Star Micronics (Japan), and Honeywell International (US) are among the key players operating in the thermal printing market. The product launch strategy is one of the major strategies adopted by these players to grow in the thermal printing market.

Embedded System Market Size 2023: Report by Market Dynamics, Emerging Trends and Business Outlook

The embedded system market size is expected to reach USD 116.2 billion by 2025 from USD 86.5 billion in 2020, at a CAGR of 6.1% during the forecast period.

Automotive industry segment is expected to grow at highest CAGR in coming years. Key factors fueling the growth of this market include an increase in the number of research and development activities related to embedded systems, rise in demand for advanced driver-assistance systems (ADAS) and electromobility solutions for electric vehicles and hybrid vehicles, increase in demand for portable devices such as wearables, and rise in the use of multicore processors in military applications.

Embedded systems are playing an important role in the redesigning of the automotive industry. These systems are used in ADAS technology incorporated in the electric and hybrid vehicles.

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Opportunity: Advent of 5G and development of 5G based embedded devices

The advent of 5G technology is expected to act as a growth opportunity for the embedded system market. According to the GSM Association (GSMA), the 5G market is expected to contribute USD 2.2 trillium to the global economy by 2034, comprising 5.3% of the global GDP growth. As a result, the production of embedded devices based on 5G architecture is expected to increase in the future. Embedded devices used in smart camera surveillance system of vehicles deliver fast response rates owing to the integration of 5G in their architecture. Additionally, 5G technology is expected to help tackle the challenges faced during industrial automation and smart farming as it enables fast image processing. Thus, embedded devices supporting 5G infrastructure is expected to fuel the growth of embedded system market.

Challenge: High energy consumption of compact embedded systems

The compactness of embedded system to incorporate various functionalities in them could lead to complexity in their design architectures. This also leads to increased energy consumption in embedded system. High energy consumption often compromises the overall lifecycle of embedded devices. The energy consumption is susceptible to the temperature of embedded device and increases with rise in the temperature of device. This affects the overall performance of the embedded system. Therefore, the high energy consumption of compact embedded systems acts as a severe challenge to the growth of the embedded system market.

Thermal Scanners Market Growth Overview: Understanding Applications and Drivers 2025

The Thermal scanners market size is expected to reach USD 6.2 billion by 2025 from USD 4.1 billion in 2020, at a CAGR of 8.6%  during the forecast period.

The key factors fueling the growth of this market are the increasing demand for thermal scanners at airports for mass screening, rising expenditure from the governments worldwide in aerospace & defense sectors, growing R&D investments by companies, governments, and capital firms to develop innovative thermal scanning solutions, and increasing the adoption of thermal scanners in the automotive industry.

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Top Key Players in Thermal Scanners Market:
FLIR Systems, Inc. (US), Fluke Corporation (US), Leonardo S.p.A. (Italy), L3HARRIS TECHNOLOGIES, INC. (US), Opgal (Israel)

FLIR Systems Inc. (US) –
The Company is a global leading technology company focused on intelligent sensing solutions for defense, industrial, and commercial applications. The company designs, develops, markets, and distributes technologies used to enhance the user’s perception and awareness. It offers thermal imaging systems, threat detection systems, locator systems, and measurement and diagnostic systems to cater to the demand from its customers from verticals, such as military and defense, energy and utilities, construction, transportation, and industrial manufacturing. The company has a geographic presence worldwide, including North and South (Latin) America, APAC, Europe, and RoW. FLIR has manufacturing and R&D facilities in more than 94 countries.

Fluke Corporation (US) −
The Company operates as a wholly-owned subsidiary of Fortive Corporation. The company is involved in the manufacturing, distributing, and servicing of electronic test tools and software. It has more than 70 years of experience in developing and manufacturing thermal imaging cameras and modules for various applications, including industrial/electronic service installation and maintenance, indoor air quality, calibration, and biomedical.

Leonardo SPA (Italy) −
The Company is one of the major players in the aerospace & defense and security markets. The company is involved in the designing and manufacturing of defense & security electronics, helicopters, aeronautics, and aerospace & defense solutions for various end users, such as governments, aerial & terrestrial, institutions, naval & maritime, and space & cyberspace. The thermal product portfolio offered by the company includes thermal cameras for MWIR and LWIR wavelengths, thermal modules, sights, and navigation systems. In addition, the company offers thermal core products through one of its subsidiary— Leonardo DRS

Situational Awareness Market Size, Share, Top Factors, and Rapid Growth

The Situational awareness market report size is projected to grow from USD 17.2 billion in 2020 to USD 21.8 billion by 2025, recording a CAGR of 4.9% between 2020 and 2025.

Increasing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and growing importance of situational awareness in cybersecurity to provide significant situational awareness are the major factors driving the growth of the situational awareness system market.

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General Electric (US), Lockheed Martin (US), Honeywell (US), DENSO (Japan), BAE Systems (UK), UTC (US), Microsoft (US), Barco (Belgium), AMD (US), L3Harris Technologies (US), General Dynamics (US), Xilinx (US), Qualcomm (US), Robert Bosch (Germany), Pleora Technologies (Canada), Nexvision (France), Bertin Instruments (France), Axis Communications (Sweden), Johnson Controls (Ireland), Boeing (US), Airbus (France), and Sensara (US) are some of the key players in the market.

General Electric (US) −
The company is a technology and financial services company involved in the development and manufacture of products that are used in the generation, transmission, distribution, control, and utilization of electricity. The company operates in Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Capital, and Lighting segments.
Lockheed Martin Corp (US) −The company is a security and aerospace company. It is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. It also provides a broad range of management, engineering, technical, scientific, logistics, and information services. The company’s products and services have applications in the defense, civil, and commercial sectors.

Honeywell (US) −
The Company offers automation and control solutions; aerospace products and services; control, sensing, and security technologies for buildings; turbochargers; automotive products; specialty chemicals; electronic & advanced materials; process technology for refining and petrochemicals; and energy-efficient products and solutions for homes. The company operates in various business segments: Aerospace, Performance Materials and Technologies, Honeywell Building Solutions, and Safety and Productivity Solutions. Through the Honeywell Building Solutions segment, the company offers software, solutions, and technologies for homes and industries. Honeywell provides situational awareness products, solutions, and services such as continuous monitoring and alerting, compliance and reporting, security information and event management, security awareness training, and managed services.

Denso (Japan) −
The Company is a Japan-based automotive manufacturer that specializes in automotive electronics, electrification, thermal, and powertrain technologies. The company operates through six business segments—Thermal Systems, Powertrain Systems, Electronic Systems, Electrification Systems, Mobility Systems, and Non-Automotive Business. DENSO's interactive cockpit uses active safety "sensing" and vehicle-to-vehicle and vehicle-to-infrastructure (V2X) communication technologies that provide the vehicles a 360-degree situational awareness of the roads and help drivers and occupants to gain information about traffic congestion and avoid a potential collision with another vehicles or pedestrians.

Plant Asset Management Market Revenue, Opportunities, Challenges and Key Players

The plant asset management market is expected to grow from USD 5.5 billion in 2019 to USD 9.4 billion by 2024, at a CAGR of 11.3%.

The market’s growth is propelled by surging adoption of lean manufacturing practices by several organizations, increasing focus on providing cloud-based PAM solutions to satisfy customer demands, escalating demand for asset management software that can identify potential failures to avoid futuristic loss, and growing need for real-time data analytics.

PAM market in APAC is expected to grow at the highest CAGR during the forecast period. The adoption of PAM solutions is high in APAC due to the growing manufacturing sector in the region.

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Emerson Electric Co. (U.S.)

Emerson Electric Co. manufactures and develops process controls, systems, valves, and analytical instruments. The company offers industrial, commercial, automation, and residential solutions worldwide. It operates through 2 business segments—Automation Solutions and Commercial & Residential Solutions. The company has 220 manufacturing locations in 150 countries, primarily in Europe and Asia. Emerson Electric provides PAM solutions under its Automation Solutions segment. It serves industries such as petroleum, chemicals, food & beverages, pulp & paper, pharmaceuticals, and water & wastewater treatment. The company focuses on expanding its product portfolio and improving its offerings to meet the ever-changing needs of its customers across various end-user industries. For instance, in July 2019, the company modified its AMS Device Manager Software solution with HART-IP support, and in September 2019, Emerson launched the AMS Asset Monitor edge analytics device.  

Rockwell (US)

Rockwell Automation, Inc. is one of the world’s largest companies providing industrial automation power, control, and information solutions. The company operates in 2 major business segments, namely, Architecture & Software and Control Products & Solutions. The Architecture & Software segment includes hardware, software, and communication components of the company's integrated control and information architecture capable of controlling customers’ industrial processes and connecting with their manufacturing enterprise. Rockwell Automation has a strong market position in the asset management field. Rockwell emphasizes on product improvements. For instance, in July 2019, the company upgraded its FactoryTalk AssetCentre Software to protect a wider range of assets. Moreover, the company is aggressively involved in mergers and acquisitions to increase its market share in countries other than the US. In October 2019, Rockwell acquired MESTECH Services to expand its consulting and system integration scale in the fast-growing transformation market.

ABB Ltd. (Switzerland)

ABB Ltd., a global leader in power and automation technologies. The ABB Group was founded in 1988 after the merger of Asea AB (Sweden) and BBC Brown Boveri AG (Switzerland). It operates mainly in areas such as robotics, power, heavy electrical equipment, and automation technology. The company has presence in Europe, the Americas, Asia, Africa, and the Middle East. ABB mainly operates in 3 business segments—Electrification Products, Robotics and Motion, and Industrial Automation. The company strives to increase its profit margin by strengthening its product competitiveness, adopting inorganic strategies, and lowering market-related risks. ABB has launched ABB Ability drives to accelerate profitable growth. A significant portion of ABB’s R&D investments is utilized for its Industrial Automation business segment, which develops PAM solutions. In addition, ABB significantly invests in R&D to thrive in a competitive environment. In FY 2018, its R&D expenditure was USD 1.2 billion, that is, 4.1% of its total revenue. Further, the company is capitalized on partnerships with other professional third-party solution providers to ensure mutual profit and growth.

Cloud Gaming Market Research Report, Growth, Trends Key Players

The global cloud gaming market in terms of revenue was estimated to be worth USD 306 million in 2019 and is poised to reach USD 3,107 million by 2024, growing at a compound annual growth rate (CAGR) of 59.0% from 2019 to 2024. The new research study consists of an industry trend analysis of the market.

The major driving factors considered are the commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

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NVIDIA Corporation (US) −

NVIDIA develops GPUs to provide solutions for complex issues in computer science. The company specializes in markets, which employ GPU-based visual computing and accelerated computing platforms. These platforms integrate processors, systems software, programmable algorithms, systems, and services in the marketplace. Fueled by the continual demand for better 3D graphics and the scale of the gaming market, the company is emphasizing on Virtual Reality (VR), High-Performance Computing (HPC) and Artificial Intelligence (AI).

Intel Corporation (US) −

Intel is a leading designer and manufacturer of advanced integrated digital technology platforms and has a robust market presence, especially in PC and data center markets. The company provides designing and manufacturing of technologies that empower cloud and numerous smart, connected computing devices. It delivers computing, data storage, networking, and communication solutions spanning across multiple industries including original equipment manufacturers (OEMs); original design manufacturers (ODMs); cloud and communication service providers; and industrial, communications, and automotive equipment manufacturers.

Google Inc. (US) −

Google is one of the global technology leaders, and its primary areas of operations include advertising, search, operating systems and platforms, and enterprise and hardware products. Google develops innovative products based on cloud gaming technology. The company continuously aims for innovative next-generation products and services to meet the varying needs of its customers across various end-use applications. Additionally, Google is conducting various strategic R&D initiatives to enhance its product capabilities. In November 2019, Google unveiled Stadia, an advanced gaming platform built to power creative vision. The Stadia developer platform is designed to seamlessly integrate with tools, workflows, and business practices of the company.

Microsoft Corporation (US) –

Microsoft is a global leader offering software services, devices, and solutions. The company offers significantly diversified software products and is active in its development, licensing, and support. The company significantly invests in R&D to improve its product portfolio and position in the cloud gaming services market. With the development of a new Project xCloud, which is a game-streaming technology that delivers a quality experience for all gamers, the company showcased its strong organic growth capability.

Telecom Power System Market Set to Grow at the Fastest Rate-Time to Grow your Revenue

The global telecom power system market is projected to grow from USD 4.2 billion in 2023 to USD 6.6 billion by 2028; it is expected to grow at a CAGR of 9.4% from 2023 to 2028.

The telecom power systems market is witnessing significant growth due to several key factors. Firstly, the increasing deployment of 5G networks, which require more efficient and reliable power systems, is driving the demand for telecom power systems. Secondly, there is a rising awareness of the carbon footprint associated with the telecom industry, leading to a shift towards more sustainable power systems.

The demand for mobile, telephony, and data services has increased in rural areas from developing economies such as India, Africa, and Brazil. The telecom service providers and mobile network operators are expanding their network from the urban and semi-urban regions to rural areas to tap the existing market potential of the rural market in the developing economies.

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Opportunity: Increasing technological advancements in cellular networks (5G, LTE services, etc.)

Long-term evolution (LTE), marketed as 4G LTE, is the standard for high-speed data for data terminals and mobile phones. It is one of the fastest wireless technologies in the market, and the rapid global adoption of the technology drives the telecom power system market. The penetration of 4G technology is rapidly increasing in developing countries worldwide. According to the ITU, the 4G penetration in APAC was ~96% in 2022. Also, the countries in Africa witnessed a 4G penetration of ~50% in 2022.

Challenge: Design challenges for telecom power systems

The telecom operators face infrastructure-related challenges in expanding network coverage to rural and remote areas due to higher operational costs and low return on investment. To deploy telecom networks in emerging markets is a technical and major economic challenge due to the absence of power grids, remote locations, harsh climatic conditions, and often the absence of qualified personnel on the ground. The energy required for electricity production should mostly be through renewable energy sources such as diesel-wind, diesel-solar, etc. The challenge is that awareness for the same is difficult to create and the installation costs for renewable energy sources are high, posing it as a challenge for adopting telecom power systems.

Microphone Market Trends, Size Analysis: Insights and Forecast to 2030

The global microphone market is expected to be valued at USD 2,454 million in 2023 and is projected to reach USD 3,526 million by 2028; it is expected to grow at a CAGR of 7.5% from 2023 to 2028.

Continuous advancements in audio technology, including noise cancellation, beamforming, and high-fidelity audio capture, are boosting the demand for high-quality microphones in various industries, such as broadcasting, recording, gaming, and telecommunication. The growing trend of intelligent home automation and voice-controlled systems creates a demand for microphones in-home devices such as smart speakers, security systems, thermostats, and lighting control systems.

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Driver: Increasing demand for consumer electronics

The growing popularity of consumer electronics such as smartphones, laptops, tablets, and wearable devices is a significant driver for the microphone market. These devices require built-in microphones for voice input, voice recognition, video recording, and telecommunication purposes. The rising demand for smartphones with advanced features and voice-controlled virtual assistants like Siri, Google Assistant, and Alexa fuels the demand for high-quality microphones.

Restraint: Compatibility issues in the Microphone

Compatibility issues in the microphone market refer to the challenge of ensuring seamless connectivity and compatibility between microphones and various devices and platforms. As technology advances, there is an increasing variety of devices with different connectivity options, such as USB, XLR, wireless, and proprietary connectors. Each connectivity option may require a specific type of microphone or adapter for proper functionality. Ensuring compatibility across this wide range of devices and platforms can significantly challenge microphone manufacturers.

Opportunity: Increasing demand for wearable and hearable devices

The increasing demand for wearable devices and hearables presents significant opportunities for microphone manufacturers. Wearable devices, such as smartwatches, fitness trackers, and AR glasses, are becoming more prevalent in various industries, including healthcare, fitness, communication, and entertainment. These devices often incorporate microphones to enable voice commands, phone calls, voice search, voice assistants, and other voice-controlled functionalities.

Challenge: Competition from established microphone manufacturers

The microphone market is characterized by intense competition, driven by the presence of established manufacturers and the entry of new companies into the industry. The microphone market is saturated with multiple manufacturers offering a wide range of products. This saturation makes it challenging for individual companies to differentiate their offerings and attract customers.

Non-Volatile Memory (NVM) Market Emerging Trends, Growth Drivers, Strategies, Forecast to 2027

The Non-volatile memory (NVM) market is projected to grow to USD 124.1 billion by 2027 from USD 74.6 billion in 2022; growing at a CAGR of 10.7% from 2022 to 2027. The market is driven by the increasing demand for high-speed, low-power, and reliable memory solutions. Non-volatile memory is a type of computer memory that can retain data even when the power is turned off, unlike volatile memory such as RAM.

Smart technologies and consumer electronics are key end users of non-volatile memory. High-capacity memory solutions with a high data transfer rate are used in various connected devices, wearable devices, and other portable devices to store data.

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Opportunity: Advent of innovative technologies for IoT applications

The increasing replacement of traditional memories with emerging non-volatile memories offers a significant opportunity for market players. Traditional memory technologies, such as DRAM and flash, have captured a major share of the memory technology market. The Non-Volatile Memory Industry is currently experiencing a significant shift as emerging technologies are increasingly replacing traditional memories like DRAM and flash. Traditional flash memories have limitations, such as slow switching rate, high latency, and low scalability. They face limitations of scalability below 90 nm while using floating gate technology and consume more power than other emerging memory technologies. Currently, flash memories are being used in smartphones, tablets, and PDAs. The major alternatives to flash memories are 3D NAND, ReRAM, NRAM, and MRAM, which are superior to flash memories in terms of latency, switching time, endurance, write cycle, and data retention. AI and IoT integrated solutions are major users of such technologies. A NVM that supports fast writes and can be shut down fully but quickly restarted. MRAM is a good fit for the IoT and AI use cases since it has better capacity, density, power requirements, quick writing performance, and extremely low read latency. While ReRam is suited for in-memory computing. A second-generation ReRAM device is being developed in collaboration between Fujitsu and Panasonic. Additionally, SMIC (China) is developing a 40 nm ReRAM technology that Crossbar Inc. is sampling.  

Challenge: Optimization of storage densities and capacities

Memory storage density stores the information bits on a computer storage medium. Higher-density memory is more in demand as it allows greater volumes of data to be stored in the same physical space. Thus, storage density directly correlates with a given medium’s storage capacity. Storage density also has a fairly direct effect on performance and price.

GaN Semiconductor Device Market worth $28.3 billion by 2028

The GaN Semiconductor Device Market is expected to reach USD 28.3 billion by 2028 from USD 21.1  billion in 2023, at a CAGR of 6.1% during the 2023–2028 period according to a new report by MarketsandMarkets™. The major factors driving the market growth of the GaN semiconductor device market include rising application in energy & power industry and growing need for compact designs in various industries. Additionally, the ongoing technological advancements in GaN semiconductor devices provide growth opportunities to the market players.

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Browse in-depth TOC on "GaN Semiconductor Device Market"
194 – Tables
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Lighting & lasers application is expected to account for the largest share of the GaN semiconductor device market during the forecast period.

Increasing demand for high-powered GaN based opto-semiconductor devices such as laser diodes, optocouplers, photodiodes, and opto-detectors contribute to the market growth of GaN semiconductor devices. As GaN based opto-semiconductor devices deliver high-intensity and brightness of light emission, it is used in mobile phones, televisions, large displays, digital cameras, automobiles, and other monitor displays. Therefore, as the growing market of consumer electronics is a major factor that fuels the market growth of GaN semiconductor devices, it further increases the adoption of GaN semiconductor devices in lighting & lasers applications.

Power Semiconductor segment is projected to register the highest CAGR in GaN semiconductor device market during the forecast period.

GaN based power semiconductor devices are a recent addition to the market and are currently manufactured by a few companies. These devices entered the commercialization phase later than other GaN semiconductor counterparts. They can deliver high breakdown voltage and low conduction resistance characteristics which enables high-speed switching at smaller sizes, offering a distinct advantage over conventional silicon transistors that need larger chip areas to reduce on-resistance. Major companies manufacturing power semiconductor devices are Efficient Power Conversion (US), GaN Systems (Canada), and Transphorm (US). Therefore, the increasing need for high-speed switching systems is expected to contribute to market growth in the future.

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Asia Pacific is expected to register the highest CAGR during the forecast period.

The Asia Pacific market is expected to register the highest CAGR during the forecast period. The increasing integration of RF GaN semiconductor devices in consumer electronics is primarily fueling the market growth in Asia Pacific. The increasing adoption of GaN semiconductor devices in various verticals, such as automotive, industrial, telecommunications, and consumer & business enterprises, is also expected to drive the growth of the GaN semiconductor device industry in Asia Pacific.

The report profiles key players in GaN semiconductor device companies such as Wolfspeed, Inc. (US), Qorvo, Inc. (US), MACOM Technology Solutions Holdings, Inc. (US), Infineon Technologies AG (Germany), Sumitomo Electric Industries, Ltd. (Japan), Mitsubishi Electric Group (Japan), NexGen Power Systems. (US), GaN Systems (Canada), Efficient Power Conversion Corporation (US), Odyssey Semiconductor Technologies, Inc. (US), ROHM Co., Ltd. (Japan), STMicroelectronics N.V. (Switzerland), and NXP Semiconductors N.V. (Netherlands).

Battery Production Machine Market Size, Growth Rate, Industry Opportunities 2022-2027

The battery production machine market size is predicted to grow from USD 7.3 billion in 2022 to USD 19.4 billion by 2027, at a CAGR of 21.5%.

The global demand for lithium-ion batteries is rising owing to several factors, such as the growing demand for electric vehicles and expanding energy storage sector. Companies in the battery industry are focusing on developing sustainable battery technologies and meeting the high demand by increasing their manufacturing capacity.

China, Japan, and South Korea are the major lithium-ion battery manufacturing hubs with the largest installed manufacturing base of lithium-ion batteries.

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Opportunity: Emerging energy storage applications

A battery energy storage system is embedded with a rechargeable battery in the form of battery packs and modules. The system stores energy from renewable energy sources such as solar arrays, wind, or even the electric grid and then discharges that energy later to provide electricity or other grid services when needed. Energy storage batteries are used in low-peak periods to store surplus energy and provide this energy to the end users during high peak demand for electricity. The energy storage battery has been widely installed in many parts of the world, including the US, Canada, Germany, France, China, India, and other major economies. The demand for energy storage batteries has been rising in recent years due to factors such as ongoing grid modernization, growing penetration of lithium-ion batteries in the renewable energy sector, and the rising trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution.

Challenge: Continuous development of new battery technologies

Batteries are being widely adopted in different applications ranging from heavy loads, such as airplanes, to minimal use, such as wristwatches. In recent years, various research and development practices have been going on within the battery industry, especially to develop high energy density and small-sized batteries. Hence, new technologies such as solid-state, liquid metal, and vanadium flow batteries are under the R&D stage. As newer batteries are emerging, the major challenge faced by battery manufacturers is installing new production lines for the respective batteries. Similarly, battery production machine manufacturers face the same challenge of developing new turnkey solutions for changing battery technologies. Setting up the whole process of manufacturing machines is costly and changing it according to the new type of battery market is not feasible for battery production machine manufacturers at a fast pace. Hence, as newer battery technologies are being developed and adopted, battery production machine manufacturers will face the challenge of identifying the most recent battery technology and changing their product offerings to cope with the changing technology landscape.

Atomic Layer Deposition Equipment (ALD) Market Analysis 2023-2027: Projected Growth, Trend, Scope and Business

The ALD equipment market is estimated to be worth USD 4.1 billion in 2022 and is projected to reach USD 6.0 billion by 2027, at a CAGR of 8.2% during the forecast period. Constantly developing semiconductor industry, proliferation of 3D NAND SSDs and the advantages offered by ALD are the key factors driving the market growth.

The rising demand for smart and connected healthcare solutions, wearables, and implants is expected to drive the ALD equipment market growth for medical applications.

The increasing usage of various logic devices and memory technologies is a significant factor expected to drive the ALD equipment market growth for More Moore applications.

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Opportunity: Rising demand for photovoltaics

Due to the rapid depletion of resources, there has been a surge in demand for renewable energy sources. According to International Energy Agency (IEA), renewable energy accounted for 28% of the total energy globally in 2021.

With the help of PV cells and solar panels, energy from the sun can be converted into electricity. Due to the increasing energy crisis, there has been an increase in demand for solar energy in the last decade. The growing demand for photovoltaics is expected to create lucrative opportunities for market players offering solutions for ALD. In solar cells, ALD films can be used as surface passivation layers, buffer layers, window layers, absorber layers, and hole/electron contacts. Increasing demand for photovoltaics is expected to drive the market growth for ALD.

Challenge: Technical difficulties and process complexity

Processes involved in manufacturing semiconductors need clean rooms and clean equipment. Even a tiny amount of dust can hamper the process and result in a heavy financial loss.

Delay in supply due to errors during manufacturing may result in additional losses and order cancelations. A few common challenges associated with semiconductor manufacturing include defects associated with raw materials, mechanical integrity, and problems at the chip level. Moreover, advanced and innovative technologies are needed at the fabrication stage to produce high-quality semiconductor devices and ICs. The growing trend of miniaturization has significantly increased the complexity of wafers due to the presence of multiple patterns at the chip level. ALD needs a very high degree of cleanliness. However, it is difficult to maintain cleanliness in ALD when process nodes are extremely small. Moreover, technicians must ensure that there should not be any leakage during ALD as the gases used in the production processes can be hazardous. The increasing number of challenges involved while manufacturing semiconductors may impede the market growth for ALD.

Flame Detector Market Size and Growth Comprehensive Analysis - 2022-2027

The global flame detector market size is expected to grow from USD 1.7 billion in 2022 to USD 2.1 billion by 2027, at a CAGR of 5.0% during the forecasted period. The growing technology implementation, rise in adoption from key industries, and the strict policies, and regulations for fire protection are the key drivers for the flame detectors.

Flame detection is a risk avoidance and management practice which helps to reduce and avoid the risk of fire in public and private infrastructure. It involves the combined efforts of federal custodians and tenants, private building owners, and local fire service agencies.

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Opportunity: Growth in commercial real estate

Commercial real estate is one of the areas that has bounced back well since the initial impact of the pandemic. The pandemic has accelerated the shift from offline, in-store retail to online, e-commerce logistics, driving the demand for warehouse- and logistics-focused properties. It is observed that globally the development of logistics, industrial, and warehouse spaces has increased in the last three years and is estimated to continue for the next few years. Currently, some core markets such as warehouse/distribution, manufacturing, and technology are experiencing an industrial space crunch leading to increasing demand and growth in commercial real estate. As the industrial real estate grows, the opportunity for building and fire safety systems is expected to increase as this industry has a higher focus on building, asset, and personnel safety. Thus, the rising demand and growth in commercial real estate is a great opportunity for the flame detector industry.

Challenge: Introduction of hydrogen blended gas streams

The introduction of new equipment and the transition to alternative fuels bring significant challenges for optical flame detection. Hydrogen is seen by industry leaders as a way to reduce society’s dependence on fossil fuels. Many natural gas distribution companies are exploring the possibility of introducing hydrogen into gas streams. Although the transition to a non-carbon-based gas network is distant, the shift toward the goal has started. This shift can affect fire safety products used within the distribution network. IR flame detectors are significantly used for natural gas fires. These detectors primarily monitor a small band of radiation that focuses on the emissions of hot carbon dioxide. The addition of hydrogen in a natural gas stream helps to reduce the carbon footprint and reduces the detection distance for the same size fire. This may lead to flame detection coverage gaps in a facility. In the instances where hydrogen completely replaces natural gas, the same IR flame detectors will not be able to detect fires. This is a challenge for the flame detector market.