Agriculture IoT Market is outperforming over the Period 2020-2024

 The agriculture IoT market is expected to grow from USD 12.7 billion in 2019 to USD 20.9 billion by 2024, at a CAGR of 10.4% from 2019 to 2024. A few key factors driving the growth of this market are rising demand for agricultural production owing to increasing population, increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology by farmers and growers, and focus on livestock monitoring and disease detection to improve farming efficiency.

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The agriculture IoT market for market for services offering to grow at the highest CAGR during the forecast period

The agriculture IoT market for services is expected to grow at a higher CAGR during the forecast period. . Service providers include companies that provide farm operation services, data services, and farm data analytics to software companies or directly to farmers. Analytics services help in providing right calls and alerts on farming operations to improve the farmers’ decision-making capabilities. System integrator service providers are involved in troubleshooting and diagnosing farm management solutions, which also consists in developing new concepts related to software and hardware equipment.

Precision Farming to account for the largest share of agriculture IoT market during the forecast period

Precision farming to account for the largest share of agriculture IoT market during the forecast period. This market growth can be attributed to the increasing focus on improving farm efficiency and productivity. Precision farming has the potential to change the concept of agriculture for good, making traditional agricultural activities more efficient and predictable. In precision farming, farmers can use various software and hardware devices to collect farm-related data, which would help them make better decisions and increase the productivity of their lands and crops.

Agriculture IoT market in Europe is expected to hold the second-largest share during the forecast period

Europe is expected to hold the second-largest share of the agriculture IoT market during the forecast period. European farmers are already using smart agriculture technologies such as yield monitoring, GNSS technology in guidance and steering, variable rate application, and crop scouting. The adoption rate of animal tracking, dairy cattle management, and other livestock monitoring technologies is high in Germany. The UK is focusing on changing its agriculture IoT landscape by entering into the new era of technological developments to meet the rising demand for food by a growing population, rapid changes in climate, changing diets, and increasing scarcity of natural resources.

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Key Market Players

Deere & Company (US), Trimble (US), Raven Industries (US), AGCO Corporation (AGCO) (US), AgJunction Inc. (AgJunction) (US), DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France), AG Leader Technology (AG Leader) (US), Tigercat (Canada), Ponsse (Finland), Komatsu Forest AB (Sweden), Caterpillar (US), Treemetrics (Ireland), Topcon Positioning Systems (US), and DICKEY-john Corporation (US) are some of the major players in agriculture IoT market.

Increase in Global Demand for IoT Battery Market

 According to the new market research report "Battery Market for IoT by Type, Rechargeability, End-use Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Battery Market for IoT is estimated to grow from USD 9.2 billion in 2020 to USD 15.9 billion in 2025; growing at a CAGR of 11.6% from 2020 to 2025.

The major factors driving the growth of the market are multi-fold rise in the use of IoT and increase in the adoption of IoT-enabled devices, increase in global demand for wireless communication, surge in R&D activities to develop advanced, flexible, and thin batteries, and rise in demand for thin & flexible batteries used in IoT-enabled devices.

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Printed batteries segment is expected to witness highest CAGR in battery market for IoT during forecast period

Printed batteries are the newer types of microbatteries. They are mostly composed of Zinc-based materials. Advantages such as thin size and small form factor, and their ability to be disposed off easily have made printed batteries popular in smart packaging and medical application markets, and their demand is expected to increase further during the forecast period.

 

Aerospace and defense end-use application is expected to witness highest CAGR in battery market for IoT to during forecast period

IoT technology is used in the aerospace and defense end-use application to ensure connectivity and the integration of aircraft, systems, and people to the Internet. This application makes use of sensors to capture comprehensive machine data. These sensors are installed on critical aerospace and defense equipment, machines, and vehicles. IoT technology also offers numerous opportunities for airlines to improve their baggage handling and equipment monitoring processes. The increasing installation of smart beacons that allow mobile apps to comprehend their position on a micro-local scale and deliver context to users based on their location using Bluetooth technology, is driving their market growth.

 

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Battery market for IoT in APAC expected to grow at highest CAGR from 2020 to 2025

APAC comprises a number of emerging economies such as Australia, India, China, Japan, and Singapore. The high rate of the adoption of new technologies has made this region a lucrative market for IT industries; attributed to this reason, the battery market for IoT in APAC is expected to grow at the highest rate. In addition, these countries are taking aggressive initiatives to upsurge the IT infrastructure enabling commercial users to adopt cutting-edge technologies. The major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technological advancements in smart packaging (such as the use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems, and medical patches, which require lightweight, flexible and safe power sources, are fueling the market growth of microbatteries in the APAC region.

 

Duracell Inc (Duracell) (US), Energizer Holdings Inc (Energizer) (US), Panasonic Corporation (Panasonic) (Japan), LG Chem Ltd (LG Chem) (South Korea), Samsung SDI Co (Samsung SDI) (South Korea), STmicroelectronics N.V (STmicroelectronics) (Switzerland), Cymbet Corporation Inc (Cymbet) (US), Ultralife Corporation (Ultralife) (US), Ilika Plc (Ilika) (UK), and Imprint Energy Inc (Imprint Energy) (US) are the prominent players in the global battery market for IoT.

Sensor Patch Market: COVID-19 Impact Analysis 2025

 According to the new research report on the "Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen), Application (Monitoring, Diagnostics), Wearable Type (Wristwear, Neckwear, Bodywear), End-user Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is expected to grow from USD 1.2 billion in 2020 to USD 6.4 billion by 2025, at a CAGR of 40.5%.

The growth of this market is mainly driven by the rising demand for portable medical devices and wearable sensors, increasing elderly population, and growing use of sensor patches to monitor glucose level. The growing adoption of telehealth and advancements in wearable solutions and digital technologies provide major opportunities for the growth of the sensor patch market.

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Bodywear to witness highest CAGR during 2020–2025

The market for bodywear is expected to grow at the highest CAGR during the forecast period. The significant growth rate of the market can be attributed to the increasing demand for bodywear patches to track the medical records of patients or sportspeople. Bodywear devices such as chest straps and smart patches are worn on the chest and arms for monitoring fitness. Moreover, wearable sensors are very small and can be integrated into smart patches to help the users achieve daily fitness goals and monitor health conditions.

Fitness and sports end-user industry expected to exhibit higher CAGR in sensor patch market from 2020 to 2025

The sensor patch market for fitness and sports end-user industry is expected to grow at a higher CAGR from 2020 to 2025. Sensor patches transform the way athletes train, perform, and recover from injuries. The increasing average life expectancy of the population worldwide would further drive the growth of the sensor patch market in the fitness and sports industry. Leading teams from different sports have started adopting wearable sensor patches and have shown positive results in increasing potential, performance, energy management, and reduction in injuries.

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Increasing per capita healthcare expenditure and disposable incomes to boost demand for sensor patches in APAC during forecast period

The sensor patch market in APAC is expected to grow at the highest CAGR during the forecast period. The growing need for the implementation and integration of medical devices and healthcare IT solutions in Asia to provide cost-effective and quality clinical care to patients drives the regional market for sensor patches. As a result, many global wearable solution companies are investing in the Asian market to capitalize on the growing opportunities. In addition, the COVID-19 outbreak has resulted in an increased patient pool in the region, especially in China and India. The growing patient volume, along with the rising need for accurate and timely diagnosis and treatment of this disease, will fuel the growth of the sensor patch market in APAC.

Key players in the sensor patch market are Abbott Laboratories (US), iRhythm Technologies, Inc. (US), DexCom, Inc. (US), Medtronic PLC (Ireland), Texas Instruments Inc. (US), Proteus Digital Health, Inc. (US), Gentag, Inc. (US), Kenzen, Inc. (US), VitalConnect, Inc. (US), and Preventice Solutions, Inc. (US).

Inductor Market Current and Future Demand 2025 with Top Leading Players

 The global inductor market is estimated to grow from USD 3.8 billion in 2020 to USD 4.7 billion by 2025; at a CAGR of 4.2%. Major driving factors of the market are the increasing demand for consumer electronics that require a large number of inductors and the rising adoption of electric vehicles.

Key Market Players

Major players in the inductor market are Murata Manufacturing (Japan), TDK (Japan), Vishay Intertechnology (US), TAIYO YUDEN (Japan), and Chilisin (Taiwan).

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Wire-wound inductors are largest contributors to inductor market, by type

Wire-wound inductors have a core made of magnetic metals such as iron or ferrite with a wire wound around it. Unwanted radio frequencies can interfere with audio sound quality and disrupt electrical circuits. Thus, wire-wound inductors are used as they can block or filter radio frequencies. They are typically found in car audio systems and electronic control units (ECUs) and also in electronic equipment used in communication infrastructures and mobile base stations. They are mainly used in the high-frequency circuits of mobile communication equipment, such as wireless LAN, mobile phones, broadband components, RFID tags, RF transceivers, Bluetooth, Wireless PDA, and security systems. Wire-wound inductors are larger in size and their performance is twice than that of multilayered inductors of the same size. Wire-wound inductors have the largest market share as the manufacturing cost involved is less compared with other types of inductors and they provide a high inductance value.

Ferrite core inductors to hold largest market share of inductor in 2025

A ferromagnetic core uses iron or ferrite materials to increase inductance. It offers higher resistance compared with other inductor core types, however, it is not always reliable as it reaches its magnetic saturation level relatively quickly when dealing with high inductance. Ferrite core inductors are used in surface acoustic wave (SAW) filters and voltage-controlled oscillator (VCO) circuits for telecommunication, hard disks, notebook computers, and other electronic equipment. Several applications associated with ferrite core inductors are broadband transformers, noise filters, power transformers, converter and inverter transformers, and others. Multilayered ferrite inductors are used in various electronic devices such as CD-ROM, hard disks, modems, printers, computing devices such as personal computers and converters including DC-DC converters. Due to their large number of applications, the demand for ferrite inductors is on the rise.

Automotive is fastest-growing vertical in inductor market and will continue to do so during forecast period

New technologies are being introduced in automobiles to reduce emissions and have a less environmental impact. Inductors, used in automotive applications, have to operate under harsh environmental conditions. They can be used in various applications such as engine and transmission control units, LED drivers, HID lighting, and noise suppression for motors. Advancements in the automotive industry such as passenger comfort and safety, as well as environmental considerations, require expanding electronics to accommodate the decreasing available space. As an increasing number of systems are becoming electrical instead of mechanical, a large amount of current is required to be appropriately regulated and filtered. Also, due to the adoption and increase in the manufacturing of electric vehicles, the demand for inductors in automobiles has significantly increased.

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APAC to hold largest market share of inductor market between 2020 and 2025

The growth of the inductor market in APAC is driven mainly by the growth of the consumer electronics market in the region. APAC is witnessing dynamic changes in terms of the adoption of new technologies across various industries. As APAC has low labor costs, most of the inductors are manufactured in APAC and are exported to various regions. There is an extensive rise in the demand for power, which is increasing the need for power management and thereby, accelerating the demand for inductors.

Top Market Leadership in Situational Awareness Market

 The situational awareness market 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. Major factors driving the growth of the Growing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and growing importance of situational awareness in cyber security to provide significant situational awareness.

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 situational awareness market. These players have adopted various growth strategies, such as product launches, acquisitions, expansions, and partnerships, to expand their presence in the situational awareness market. Product launches and contracts have been the most dominating strategy adopted by the key players from 2016 to 2020 to help them strengthen their product portfolio and broaden their customer base.

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General Electric ranked 1st in the situational awareness market in 2019. General Electric (GE) 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 segments such as Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Capital, and Lighting.

Lockheed Martin was ranked 2nd in the situational awareness market in 2019. Lockheed Martin 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.

Scope of the Micro Server Usage

 The global micro server IC market is expected to reach USD 1.35 Billion by 2022, at a CAGR of 44.0% between 2016 and 2022. In the present scenario, data traffic is continually rising, driving the demand for secure and reliable storage and processing of data. To accommodate this large data, companies are deploying new data centers or upgrading their existing data centers and developing hyperscale or mega data centers. Other major drivers for the growth of the market are low power consumption and space usage by micro servers, growing trend of cloud computing.

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Micro Server IC Market for Medium Sized Organizations Held the Largest Market Share during the Forecasted Period

The medium sized organizations are adopting micro server IC’s owing to their lower buying and installing cost. In addition, it is easy to upgrade the system if the load increases by simply increasing the server nodes. Thus, medium scale enterprise segment holds the largest market for micro server IC’s. These organizations need to scale immediately whenever required to stay competitive in the market. Micro servers help such organizations to meet their IT requirements as they are easy to set up, use, and maintain without taking up a lot of space. They provide plenty of power, security, and expansion without requiring dedicated IT resources, which are imperative for medium enterprises.

Micro Server IC Market for Data Centers is Expected to Demonstrate the Fastest Growth in the Micro Server IC During the Forecast Period

A data center is a facility used to house computer systems and associated components, such as telecommunications and storage systems. Micro servers are less expensive and consume less power and space than traditional enterprise-class rack servers. They can easily be grouped into clusters and are well suited for tasks that do not require multiple CPUs. The growing need for data centers in various business domains such as IT& telecom, banking, healthcare, agriculture, and government, among others would drive the data center application to grow at the highest CAGR during the forecast period.

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Micro Server IC Market in APAC Region Held the Largest Share of the Market in 2017

The micro server IC market is expected to grow at the highest CAGR in APAC as countries such as India and China are witnessing huge technological advancements and the region is expected to witness many startup’s and business expansions in the coming years. Currently, the demand for application specific servers is huge. The main reason for this is the increasing need for data centers and cloud computing in fast developing economies such as India and China that still have a huge potential for internet connectivity. The application specific customization capability of micro servers provides a better option for data centers and cloud computing companies to use the micro servers as per the workload need. Thus, such features of micro servers would create huge demand for micro servers in the APAC region.

Significant Growth in Sensor Hub Market

 According to the new market research report "Sensor Hub Market by Processor Type (Application Sensor, Discrete Sensor, Sensor Integrated Microcontroller), End-Use Application (Consumer Electronics, Automotive, Industrial, Military, Healthcare), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the sensor hub market was valued at USD 9.87 Billion in 2016 and is expected to reach USD 32.53 Billion by 2023, at a CAGR of 18.9% during the forecast period. The sensor hub market is driven by factors such as the steady growth in the number of integrated sensors in smartphones and the increasing use of 6-axis and 9-axis sensor solutions or use of sensor fusion within the devices.

Application sensor processor segment expected to be the largest market during the forecast period

The application sensor processor segment is anticipated to hold the largest share in the sensor hub market. This solution reduces the cost of the system by eliminating the need for a separate sensor data processor and reducing design built complexities. Discrete sensor processor is expected to hold second-largest share in the sensor hub market during the forecast period. This growth is attributed to the extensive use of discrete sensor processors in wearable devices.

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Consumer electronics end-use application expected to grow at the highest CAGR between 2017 and 2023

The sensor hub market for the consumer electronics end-use application is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing use of sensors in consumer electronics devices, including smartphones, tablets, wearables, and gaming equipment. The sensor hub technology is used in these devices to provide logical on-loading and offloading of different sensors used for various applications such as gesture recognition, image stabilization, navigation, and motion-based gaming.

North America dominated the sensor hub market in 2016

North America is home to some of the prominent companies in the overall sensor hub market including Microchip Technology, Inc. (US), Analog Devices, Inc. (US), Qualcomm Incorporated (US), Intel Corporation (US), Acuity Brands (U.S.), Memsic, Inc. (US) and Texas Instruments Inc. (US). This is the major reason for its dominance in the sensor hub market. Growing demand for home automation products and health monitoring devices are the factors boosting the growth of the sensor hub market in the US. North America is an important hub for consumer electronics products, especially smartphones and wearable devices, which prominently use the sensor hub technology. This region has the highest number of end users for healthcare wearable devices. This market is expected to grow at a steady pace during the forecast period.

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Major players involved in the sensor hub market include Microchip Technology, Inc.(US), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), NXP Semiconductors N.V.(Netherland), RoHM Co. Ltd. (Japan), Analog Devices, Inc.(US), InvenSense, Inc. (US), Intel Corp (US), Infineon Technologies AG (Germany), RoHM Co. Ltd. (Japan) and Memsic, Inc. (US).

Increasing demand for digital twins in the healthcare due to outbreak of COVID-19 pandemic

 According to the new market research report "Digital Twin Market by Technology, Type (Product, Process, and System), Application (predictive maintenance, and others), Industry (Aerospace & Defense, Automotive & Transportation, Healthcare, and others), and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the Digital Twin Market was valued at USD 3.1 billion in 2020 and is expected to reach USD 48.2 billion by 2026, at a CAGR of 58% from 2020 to 2026. Increasing demand for digital twins in the healthcare and pharmaceutical industries due to the outbreak of COVID-19 pandemic, the changing face of maintenance, and growing adoption of digital twin solutions to cope up with the COVID-19 pandemic are the key factors driving the growth of the digital twin market.

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System digital twin to account for the largest share of the digital twin market

The market for system digital twin accounted for the largest market share in 2019. This growth can be attributed to the increasing use of digital twin for systems in various applications. For example, in the aerospace & defense sector, the LOCOMACHS has implemented a digital twin for the entire assembly line for an aircraft wing for performance monitoring. In addition, in the automotive & transportation industry, Tesla Motors is using a digital twin solution for every car it manufactures for better performance and business improvement.

Automotive & transportation accounted for the largest share of the digital twin market in 2019

Automotive & transportation industry accounted for the largest market share in the digital twin market in 2019. This growth can be attributed to the increasing usage of digital twins for designing, simulation, MRO (maintenance, repair, and overhaul), production, and after service. Automotive & transportation is one of the industries that will witness high growth in the post-COVID-19 period, as industry players will try to adopt digital solutions for their end-to-end operations to minimizes losses that have occurred due to the pandemic.

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North America to account for the largest share of the digital twin market by 2026

In recent years, the development of various software and deployment of automation solutions in the manufacturing industries has improved production lines and downstream operations. These developments have positively impacted the growth of the digital twin market in North America due to the high economic growth and a large presence of vendors offering digital twins.

A few of the key players in the digital twin market are General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US).

Major Key Trends in LTE Advanced Pro Market

 According to the latest market research report "LTE Advanced Pro Market by Communication Infrastructure (Small Cell, Macro Cell, Ran Equipment, DAS), Core Network Technology (SDN, NFV), Deployment Location (Urban Areas, Public Spaces, Rural Areas, Residential) and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the LTE Advanced Pro market is estimated to be valued at USD 150.0 million in 2018 and is expected to reach USD 8,017.5 million by 2023, at a CAGR of 121.6% between 2018 and 2023.

The market has huge potential across various deployment locations such as urban areas, rural areas, residential areas, public spaces, and retail stores. Key factors driving the LTE Advanced Pro market are improved efficiency with additional functionality; growing demand for improved network coverage, reduced latency, and optimized connectivity; and LTE Advanced Pro delivering higher bitrates in a cost-efficient manner.

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LTE Advanced Pro market for RAN Equipment to grow at the highest CAGR during the forecast period 

The LTE Advanced Pro market for RAN Equipment is expected to grow at the highest CAGR between 2018 and 2023. This growth can be attributed to the introduction of and increased demand for cloud-based network architectures, such as NFV and network slicing for network capacity. Using a distributed, software-enabled network based on virtualization and new architectural approaches such as NFV and network slicing, operators and third-party service providers will be able to deploy new applications and services rapidly and in a scalable manner.

NFV to hold the largest share of the LTE Advanced Pro market by 2023 

NFV core network technology is expected to hold the largest size of the LTE Advanced Pro market by 2023. Considering the fast LTE Advanced Pro gigabit speed network and yet-to-commercialize next-generation 5G network, millions of consumers and businesses are anticipated to connect to the mainstream cellular network. NFV promises to ease the load by granting service providers the flexibility to move network functions from dedicated appliances to generic servers. Using standard IT virtualization technology, NFV focuses to combine many network equipment onto standard, high-volume servers, switches, and storage; thereby making networks more agile and efficient.

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LTE Advanced Pro market for retail stores to grow at highest CAGR during forecast period 

The LTE Advanced Pro market for the retail stores deployment is expected to grow at the highest CAGR between 2018 and 2023. Retail stores face huge increase in mobile data traffic and many outlets also face the problem of blind spots, which reduces the number of visiting customers. The growth of the cellular connectivity market for the retail application is propelled by the increasing adoption of the cloud platform, declining cost of IoT components, and need for better technology to make the retail value chain more efficient.

North America leads the LTE Advanced Pro market in terms of value 

North America held the largest share of the LTE Advanced Pro market in 2017. The region is well known for the high adoption of new advanced technologies, including IoT, wearable devices, and autonomous cars/connected cars. In North America, the market for these technologies is growing at a significantly high rate. Need for reliable and fast connectivity required for these technologies is addressed by LTE Advanced Pro infrastructure, which is expected to provide growth opportunities for the market in North America.

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The companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), ZTE (China), Samsung Electronics (South Korea), NEC (Japan), Cisco Systems (US), Qualcomm (US), Intel (US), Cavium, Inc. (US), Qorvo, Inc. (US), CommScope (US), and Airspan Networks (US) among others.