Key Opportunities in the Display Driver Market in the next 5 Years

 The display driver market is estimated to grow from USD 7.1 billion in 2018 to USD 9.1 billion by 2023, at a CAGR of 5.1% between 2018 and 2023.

The market is growing due to the increasing demand for OLED and flexible displays, adoption of highly priced and advanced display drivers, and growth in automotive display market. Growth in the use of 4K and 8K televisions and availability of UHD content, and evolving role of DDICs in individual components and single integration chips also drive the growth of the market for display driver ICs.

Display driver solution providers are closely watching the display panel market to establish growth strategies mainly because of emerging display technologies such as micro-LED and true quantum dot, which will play crucial role in the display panel market in far future. Having a broader product portfolio catering to specific customer needs for OLED and LTPS displays, specific display devices, display panel size, touch displays, color gamut, and others is the major strategy following by the leading players in display driver market. Companies have continuously launched new products or expanded their existing product capabilities to stay ahead in highly competitive market. Acquiring new customers and establishing manufacturing capabilities in customer proximity has also been the major focus of leading display driver solution suppliers.

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The OLED display panel market is expected to grow rapidly during the forecast period, which will eventually increase the demand for high-performance display driver ICs and subsequently drive the market toward high growth. OLED and flexible displays are trending in the display market due to their increasing adoption in smart devices such as smartphones, wearables (smartwatch, AR/VR HMDs), and smart TVs. South Korea accounts for more than 95% of the total OLED display panel production, owing to which demand for a majority of OLED-based display drivers is emerging from South Korea. With huge investments from Samsung and LG Display in the OLED technology and their production expansion, South Korea is expected to dominate the display driver market for OLED displays, in terms of size, during the forecast period.

The display driver market for wearable devices (smartwatches and AR/VR HMDs) is expected to grow at the highest CAGR between 2018 and 2023. Wearables have emerged as a new driving segment in the global display panel market and are used in applications such as consumer, infotainment, military, fitness and gaming, industrial, lifestyle, and healthcare. Demand for smart wearables, especially the AR/VR HMDs, is expected to increase rapidly during the forecast period and subsequently boost the display driver market.

Demand for a majority of display drivers comes for LCD and OLED displays. These displays are produced in Asia Pacific, especially in China, South Korea, Japan, and Taiwan. A large number of operations related to LCD displays are being shifted to Mainland China owing to favorable government policies and low cost associated with logistics operations concerning the delivery of end products in the display panel market. As Samsung and LG Display are forgoing a part of their LCD display panel manufacturing operations in favor of OLED display panels, it is expected to create a void in the LCD display panel market. Chinese players such as CSOT, BOE Technology, and Tianma Micro-electronics attempt to fill this void by opening new LCD display panel manufacturing plants in China. These factors are expected to contribute to high growth of the display driver market in China during the forecast period. Construction of Gen 6 and above facilities by Chinese players, with government support in terms of finance and land offerings, can have significant impact in the global display panel market. This will increase the production of LCD and OLED displays in China and subsequently increase the demand for display drivers for a majority of applications.

The construction of new OLED and LCD panel manufacturing facilities, development of display drivers based on chip-on-film packages, and innovations in TDDI-type display drivers are the major opportunities in front of display driver manufacturers. Smartphone, television, automotive, and smart wearable segments are expected to offer growth opportunities to display driver manufacturers in the market. Increasing demand for display panels with high resolution, fast response time, and better picture quality is expected to influence the display driver market toward major innovations and subsequently significant growth. Display driver solution providers are closely watching the display panel market to establish growth strategies mainly because of emerging display technologies such as micro-LED and true quantum dot, which will play crucial role in the display panel market in future.

Growing Cleanroom Lighting Market at the Highest Growth Rate by 2024

 The cleanroom lighting market is projected to reach USD 978 million by 2024 from USD 742 million in 2019, at a CAGR of 5.7%. Major drivers for the market’s growth are the need for a controlled environment with near-zero levels of pollutants in the manufacturing industries, and stringent regulations in healthcare & food processing industries to prevent contamination of products. Furthermore, underlying opportunities for the cleanroom lighting market include growing economies in the Middle East to boost cleanroom lighting adoption and increasing demand for energy-efficient cleanrooms.

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Based on end user, healthcare and life sciences to hold the largest market share of cleanroom lighting during the forecast period

Need for controlled manufacturing environment necessitating control over the concentration of airborne particles, microorganisms, temperature, humidity, and pressure in the pharmaceutical industry boosts the number of cleanrooms. This increase in the number of cleanrooms is expected to drive the cleanroom lighting market in the coming years. Further, both patients and medical staff in hospitals are usually exposed to infectious microbes, which can easily transmit through air, water, or blood. Thus, the need to avoid the spread of any contagious microbes is one of the major contributors to the demand for cleanrooms in hospitals, thereby expected to drive the cleanroom lighting market during the forecast period.

Food & beverages is the major end-user of Surface Mount for cleanroom lighting in coming years

Surface-mounted lights are standard fixtures attached to a recessed junction box. The ceiling-mounted lights and wall-mounted lights are the two major types of surface-mounted lights. A surface-mounted light is attached to a ceiling in a way that the whole fixture is visible. These fixtures are ideal for the food & beverages industry. For more demanding environments in ISO 3 and ISO 4 classifications, surface mount fixtures can be installed below the ceiling plane as well as in the areas where a high level of filtration is required. The high air-filtration level requirements typically leave insufficient plenum space for recessed fixtures; hence, users prefer the surface-mount fixtures over recessed fixtures.

APAC to account for largest market size during forecast period

APAC accounted for the largest share of the cleanroom lighting market in 2019, and the trend will remain the same in the coming years. Several biopharmaceutical companies and medical device manufacturers are expanding their presence in APAC owing to cost advantage and favorable regulatory environment in this region. Countries as China, Japan, South Korea, India, Taiwan, Australia, and Singapore are expected to be the major contributors to the cleanroom lighting market in APAC. China is a huge market for cleanroom lighting, and it would continue to remain the largest market for cleanroom lightings in APAC during the forecast period.

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Key Market Players

Eaton Corporation plc (Eaton, Ireland), Crompton Greaves Ltd. (Crompton, India), Signify holding. (Signify, Netherlands), Wipro Enterprises (P) Ltd.  (Wipro, India), LUG Light Factory Sp. z o.o. (LUG Light Factory, Poland), Terra Universal. Inc. (Terra Universal, US), Solite Europe Ltd (Solite Europe, UK), Kenall Manufacturing. (Kenall Manufacturing, US), Eagle Lighting Australia (Eagle Lighting, Australia) and Paramount Industries, Inc. (Paramount, US) are some of the major players in the cleanroom lighting market.

Opportunities and Growth of the Rapid Liquid Printing Market

 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.

Rapid liquid printing market for services to grow at a higher CAGR during forecast period

The market for services is expected to grow at a higher CAGR during the forecast period. The high growth is expected due to the projected increase in the demand for custom design and manufacturing. With the increasing number of companies offering 3D printing services, it is expected that several companies will adopt rapid liquid printers for manufacturing purposes.  As the rapid liquid printing technology facilitates the manufacturing of products with complex geometries and offers competitive pricing compared to traditional manufacturing methods, several companies across industries are expected to outsource everything—from the design to the production of customized products to sustain in the highly competitive markets. As a result, the market for rapid liquid printing services is expected to witness the highest growth rate.

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Rapid liquid printing market for automotive vertical is expected to grow at highest CAGR during forecast period

The market for automotive vertical is expected to capture the highest CAGR during the forecast period. This growth is mainly driven by the increasing demand for hybrid vehicles and battery-operated vehicles, along with the development of autonomous vehicles, is driving the growth of the global automotive industry. Moreover, the rise in demand for electric and autonomous vehicles is expected to fuel the demand for new automobile components and improved engine design. The adoption of 3D printing technologies to decrease the overall manufacturing cost of vehicles and improve interior designs is expected to fuel the market for 3D printing technologies in the automotive vertical.

APAC to be fastest-growing rapid liquid printing market during forecast period

APAC is expected to be the fastest-growing market for rapid liquid printing. The growing demand for 3D printing technologies from automotive, aerospace & defense, utility, and healthcare verticals in APAC is expected to support the growth of rapid liquid printing in the region. The requirement to meet the demand for consumer products of the growing population in APAC, along with the ongoing industrialization in emerging economies, is expected to fuel the growth of consumer products and automotive verticals in this region. This, in turn, is expected to contribute to the growing demand for 3D printing technologies, which again translates to the growing demand for rapid liquid printing in APAC. China and Japan are expected to be major markets for rapid liquid printing in APAC. Japan is home to major automobile manufacturers and suppliers who are facing challenges of high labor costs and increased lead time taken by conventional production processes. As such, companies are adopting automated and advanced production technologies to overcome these challenges. The use of additive manufacturing technologies in these countries is expected to fuel the growth of the market for rapid liquid printing in APAC.

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.

Emerging Applications of EMC Testing in the Consumer Electronics

 The electromagnetic compatibility (EMC) test measures the ability of a device to operate as intended in its shared operating environment, without affecting the ability of other equipment to function as intended. The global EMC testing market is estimated to grow from USD 2.1 billion in 2019 to USD 2.8 billion by 2024; it is expected to grow at a CAGR of 5.4% during the forecast period.

A few of the key factors driving this market are the growing standardization of goods in countries, increasing incidents of product recalls globally, the surge in global counterfeiting, the imposition of rigorous government regulations across various sectors and increasing adoption of wireless devices and mobile data traffic explosion

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Major players in the EMC testing market have primarily adopted strategies such as product/service launches and developments to strengthen their position in the market.

Intertek announced the American Association for Laboratory Accreditation (A2LA) of its laboratory at Boxborough, Massachusetts, to test active implantable medical devices (AIMDs) to ISO 14708-1 and EN 45502-1 standards. With this, Intertek becomes the first independent laboratory in North America accredited for electrical safety and EMC testing for both implantable and non-implantable medical devices.

SGS acquired Inter-Basic Resources, Inc. (IBR) based in the US and the UK. IBR is a leading provider of state-of-the-art testing and verification services for air and fluid filtration performance across multiple industries. The acquisition helps SGS to broaden its services within non-woven materials, particularly filtration performance.

Intertek deals with testing, inspecting, and certifying products and services offered by total quality assurance service providers across industries worldwide. Through its global network of state-of-the-art facilities and industry-leading technical expertise, Intertek provides innovative assurance and TIC services to customers. The company operates in a decentralized organizational model with common core operating principles and practices leveraging the potential of its workforce. It follows the differentiated growth strategy, which aims to take the company toward high growth and high margin in EMC testing. The company provides a systemic approach to supporting its customers’ Quality Assurance efforts in each of the areas of their operations, including R&D, components suppliers, manufacturing, distribution and retail channels, transportation, and consumer management.

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Fortive, based out of Washington, has businesses in growth strategies, strategic segments, and business directories. The company is into professional instrumentation, which caters to field solutions, product realization and sensing technologies, and industrial technologies that cater to transportation technologies, automation & specialty, and franchise distribution. Tektronix and Fluke are fully owned companies of Fortive, which controls the operations of the segments.

Impact of COVID-19 on RTLS Market for Healthcare

 According to the new market research report "Real-Time Location Systems Market for healthcare with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE, IR, Ultrasound, Others), Facility Type, Application, Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market is expected to grow from USD 1.4 billion in 2020 to USD 3.9 billion by 2025; it is expected to grow at a CAGR of 23.0% from 2020 to 2025.

The RTLS market for healthcare has been witnessing significant growth over the past years, mainly owing to the high adoption of RTLS solutions in hospitals and growing adoption in emerging use cases. However, the COVID-19 outbreak is likely to result in a decline in the growth rate of the RTLS market for healthcare, especially in 2020 and 2021. This is mainly because COVID-19 has led to healthcare organizations dedicating a major part of their funds toward the procurement of medical equipment and other resources required to combat COVID-19. As RTLS solutions do not fall under the essential resources category required for COVID-19 treatment, this factor is expected to hinder the penetration rate of RTLS technology in the short run. Additionally, COVID-19 has also disrupted the supply chain of the RTLS market for healthcare, which is hindering the manufacturing, distribution, and installation of RTLS solutions.

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Wi-Fi segment to hold the largest share of the RTLS market for healthcare, by technology, in 2020

Wi-Fi segment will lead the RTLS market for healthcare, by technology, in terms of size, in 2020. A number of RTLS vendors have been using the existing Wi-Fi infrastructure to layout RTLS solutions for the purpose of data sharing. This has resulted in the greater use of Wi-Fi technology for RTLS applications.

The market for supply chain management & operational automation/visibility segment to grow at the highest CAGR during the forecast period

The supply chain management & operational automation/visibility application segment is expected to witness the highest growth in the RTLS market for healthcare during the forecast period. RTLS technologies allow better visualization of supply chain dynamics in real-time. As healthcare companies move toward IoT, there is a demand for greater visibility to facilitate faster decision-making.

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North America to hold the largest share of RTLS market for healthcare by 2020

North America is expected to hold the largest share of the RTLS market for healthcare by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. Europe is expected to account for the second-largest share of the RTLS market for healthcare during the forecast period. The UK and Germany are significant demand-generating countries for RTLS solutions in this region.

A few key players operating in the RTLS market for healthcare are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), CenTrak (US), TeleTracking Technologies (US), AiRISTA (US), and Litum Technologies (Turkey).

Latest Industry Trends in the Medical Electronics Market

 The medical electronics market is estimated to be worth USD 5.1 billion in 2019 and is projected to reach USD 6.6 billion by 2025, at a CAGR of 4.6% from 2019 to 2025. The medical electronics industry is expected to witness strong growth in the next six years mainly due to the rising incidents of chronic diseases; increasing adoption of medical imaging, monitoring, and implantable devices; rising expenditure on healthcare across the world; and a growing elderly population.

Medical electronics market for batteries is expected to hold the largest share during the forecast period

Increasing demand for high power portable medical devices, such as cardiac monitors, respiratory monitors, hemodynamic monitors, and implantable devices, is the major factor accelerating the growth of batteries in the medical electronics market. As most of the medical devices are being computerized for better diagnosis and monitoring, the number of battery-powered medical devices is proliferating. Unexpected failure or depletion of the battery can stop the device from functioning properly and preventing it from delivering a lifesaving therapy. Therefore, there is a huge demand for safe and reliable batteries for medical devices.

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Non-invasive medical devices are expected to hold the largest market share from 2019 to 2025

Factors such as the rising government subsidies on medical devices, increasing adoption of IoT-based medical devices, surging demand for digital radiography systems, and growing use of flat-panel detectors (FPDs) contribute to the augmented demand for non-invasive products in the medical electronics market.

Patient monitoring application is expected to hold the largest market share from 2019 to 2025

Factors such as the easy availability of wireless monitoring devices and the rising incidence of lifestyle and chronic diseases are expected to drive market growth during the forecast period. The growing demand for patient monitoring devices in non-hospital settings is also expected to provide a range of growth opportunities for players in the market. The integration of patient monitoring technologies in smartphones and wireless devices is a critical trend for patient care, resulting in increasing adoption of patient remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, ambulatory wireless EEG recorders, and ambulatory event monitors.

Americas to account for the largest market share from 2019 to 2025

The Americas accounted for the largest share of the global medical electronics market in 2018. Factors such as the rise in the geriatric population, presence of advanced healthcare infrastructure, and high healthcare expenditure are supporting the growth of the market in the Americas. The medical electronic market has seen tremendous growth in terms of technological advancements, increased healthcare expenditure as a percentage of total GDP, and integration of health information technology (IT) into primary care. The region is home to a few of the leading medical devices and medical electronics and medical devices companies in the world, such as Johnson & Johnson (US), General Electric (US), Medtronic (US), and Cardinal Health Inc. (US), offering medical electronics. The region provides an ideal environment for innovation, which has facilitated massive advancements in medical technology.

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Key Market Players

The major players in medical electronics market are Analog Devices (US), Texas Instrument (US), TE Connectivity (Switzerland), Medtronics Plc (Ireland), ST Microelectronics (Switzerland), NXP Semiconductors (Netherlands), (US), Maxim Integrated Products (US), ON Semiconductor (US), Renesas Electronics Corporation (Japan), Microchip Technology (US), Tekscan, (US), Monebo (US), Cirtec Medical (US), First Sensor (Germany), Sensirion (Switzerland), Innovative Sensor Technology (Switzerland), Keller America (US), and Merit Medical Systems (US).

COVID-19 Impact on the Global Non-Volatile Memory Market

 According to the new market research report "Non-Volatile Memory Market by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND, MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), Wafer-Size, End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories.

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Traditional memories such as flash is likely to hold the largest share of non-volatile memory market during forecast period

Flash memories (SSDs) are gradually replacing magnetic storages, and they are also used as substitutes for hard drives in high-performance desktop computers. Therefore, the market size for flash memories is higher in computer storage applications compared to other consumer electronic products. NAND flash is available at a lower cost compared to SRAM and DRAM, and can retain data for longer duration; hence, it is preferred in consumer electronic applications, such as mobile phones, digital cameras, and MP3 players.

300 mm wafer size is expected to hold the largest market share of non-volatile memory market during forecasted period

Nowadays, nearly all new fab upgrade and construction activities are taking place with 300 mm wafer processing. Over the last several years, there has been a tremendous increase in 300 mm (12″) wafer usage. Nearly all major chip manufacturers have either already built or have plans to build 300 mm fabrications, and nearly all equipment manufacturers have designed their new equipment with 12″ wafers. All 300 mm wafers are double-side polished and have a notch identical to the notch found on 200 mm wafers. 

Consumer electronics is expected to hold the largest market share of non-volatile memory market during forecasted period

Consumer electronics is one of the largest application areas of non-volatile memory. The performance requirements in consumer electronics are continuously increasing owing to the rising need for high processing power and memory density while keeping product costs more or less persistent. These memory technologies have the capability to meet the requirements of consumer electronics equipped with advanced technologies such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored. Non-volatile memory technologies are widely used in consumer electronics, such as wearable devices, set-top boxes, digital cameras, tablets, handheld personal communication systems, desktop PCs, and laptops, owing to the advancements in consumer electronic devices that require high performance capability.

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APAC to hold largest size of non-volatile memory market during forecast period due to rapid technological advancements in the region

APAC has the largest customer base in the world for consumer and enterprise storage applications. The non-volatile memory market has major applications in consumer electronics, mobile phones, and mass storage devices, which are continuously undergoing innovation. Various technologies related to the memory solution market are still in the process of commercialization.

The companies profiled in this report are Intel Corporation (US), Toshiba Corporation (Japan), SAMSUNG ELECTRONICS (South Korea), Adesto Technologies Corporation (US), Viking Technology (Taiwan), Crossbar Inc. (US), Kilopass Technology (US), Sidense Corporation (Canada), Sandisk Corporation (US) and Micron Technology (US) And many others.

Key Developments in Safety Laser Scanner Market

 The overall safety laser scanner market is expected to grow from USD 304 million in 2018 to USD 406 million by 2023, at a high CAGR of 5.99% during 2018–2023. The safety laser scanner market offers a long-term cost-effective solution for use with new machine installations or for retro fitting machines, plants, or even vehicles. Therefore, small form factor, high user-friendliness, seamless integration, and high on power efficiency collectively are responsible for the overall growth of the market.

The healthcare & pharmaceutical end-user industry is likely to exhibit the highest CAGR during the forecast period. Additionally, the mobile safety laser scanner market is expected to witness increased adoption across automotive, consumer goods & electronics, and healthcare & pharmaceuticals end-user industry in future.

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Healthcare & pharmaceuticals segment to account for a larger size of safety laser scanner market, based on end-user sector, by 2023

Lasers in the healthcare sector is used to improve patient safety and experience. Safety laser scanners are used extensively in the pharmaceutical manufacturing industry that relates largely to drug manufacturing, which is the process of industrial-scale synthesis of pharmaceutical drugs. Laser-based safety scanners play a critical role in the optimization of warehousing, packaging, and logistics operations in manufacturing facilities. For instance, safety laser scanners are used in autonomous monitoring vehicles, or movable service robots for industrial use in the pharmaceuticals sector for collision avoidance while logistics operations are being executed. These scanners are used in receiving areas and manual warehouse areas and also for transport and storage.

Safety laser scanner market expected to grow at a higher CAGR from 2018 to 2023 because of increasing fatalities in workplaces

Key factors contributing to the growth of this market include the increasing fatalities in workplaces, increased automation with the adoption of Industry 4.0, and growing concerns for the safety of machines and workers on the production floor. Moreover, the adoption of AGVs and AGCs across end-user industries such as automotive, healthcare & pharmaceutical, consumer goods & electronics drives the growth of the safety laser scanner market.

APAC to account for largest market size during forecast period

APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rapid increase in production facilities in APAC for end-user industries such as automotive and consumer goods & electronics. Europe and North America are the next major regions that are expected to exhibit substantial growth rates in the safety laser scanner market with a high CAGR during the forecast period. Further, government policies are also in favor of increasing the number of manufacturing facilities in this region. Additionally, developing economies, such as China and India, dominate the consumer electronics market in APAC.

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Key Market Players

Key players profiled in this study include Leuze Electronics GmbH (Germany), OMRON Corporation (Japan), Panasonic Corporation (Japan), Rockwell Automation  (US), SICK AG (Germany), Banner Engineering (US), Hans Turck (US), Hokuyo Automatic Co., Ltd. (Japan), IDEC Corporation (Japan), Keyence Corporation  (Japan), Pilz GmbH & Co. KG (Germany), Datalogiv SpA (Italy), Arcus Automation Private Limited(India), and ReeR SpA (Italy).

Recent developments

•  In April 2016, Leuze Electronic introduced the RSL 400 safety laser scanner and won the GIT Safety Award and the Industry Prize for optical technologies 2016. RSL 400 has an impressive design from an economical, technological, and environmental point of view.
• In April 2017, Banner Engineering announced the opening of Turck Banner Malaysia Sdn. Bhd. (Malaysia). This office provides sales and technical support and value-added services for customers and partner companies in Malaysia and across APAC
• In June 2017, ReeR (Italy) was awarded the title of “Excellent Company 2017.” This was awarded by “4.0: technology and organization sustaining company's talent,” held in Milan, Italy, in cooperation with Borsa Italiana, Elite, and Global Strategy. The financial strength of the company and the ability of exploring niche markets, promote investment processes, internationalization, and innovation contributed majorly to win the award.

Upcoming Industrial Applications of 5G Fixed Wireless Access Networks

 The 5G fixed wireless access market is expected to grow from USD 369 million in 2019 to USD 46,366 million by 2026, growing at a CAGR of 97.47% from 2019 to 2026.

Key factors driving the growth of this market include growing demand for high-speed internet connectivity and broad network coverage with reduced latency and power consumption, increasing adoption of advanced technologies such as machine-to-machine (M2M)/Internet of Things (IoT) and millimeter-wave in 5G FWA.

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Services to account for largest share of 5G fixed wireless access market by 2026

The continuous development of broadband and cellular networks has enabled users to experience faster data transmission rates, with low latency. The increased demand for data services is primarily driven by the growing use of consumer electronic devices, and data-intensive applications such as virtual and augmented reality, 3D, and ultra-HD video. To support the increasing data traffic, more bandwidth is required. 5G is expected to provide 1,000× more bandwidth than its predecessor broadband generations—3G and 4G. Therefore, the growing data traffic would force network operators to provide high-speed bandwidth to their consumers.

Semi-urban areas to continue to grow at highest CAGR from 2019 to 2026

In general, it is challenging to upgrade or deploy the foundation infrastructure in urban and semi-urban areas due to the high cost of projects in civil works and complexities associated with high-rise buildings. FWA could overcome the challenge by providing a wireless connection with high throughput and low latency everywhere, whether replacing aging wireline infrastructure or establishing a connection with a new network node.

Residential to account for largest share of fixed wireless access market by 2026

5G fixed wireless is an ideal alternative mainly for residential customers as users can get gigabits of speeds at a competitive price, with no installation issues. There are more than 2 billion families across the world. Observing the current industry trend, less than half of the families are likely to opt for a fixed copper or fiber broadband connection by 2023. In many countries, it is not economically viable to build a fixed broadband infrastructure. Based on ITU data, the addressable market can be close to 1 billion households, with either no or poor fixed broadband connectivity. This generates an opportunity for FWA deployments.

North America is expected to hold largest share of 5G fixed wireless access market from 2019 to 2026

North America is expected to hold the largest share of the global 5G fixed wireless access market wherein the US and Canada are expected to adopt 5G FWA solutions and services at a high rate. These countries have sustainable and well-established economies, which empower them to strongly invest in R&D activities, thereby contributing significantly to the development of new technologies. The startup culture in North America is growing at a faster pace compared to other regions. North America is one of the leading markets for 5G in terms of R&D, network design/deployment, and presence of key players. In North America, the US is considered to have the most engaged user base, which is expected to grow with new subscribers.

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Major players in the 5G fixed wireless access market include Qualcomm Technologies (US), Nokia Corporation (Finland), Samsung Electronics (South Korea), Huawei (China), Ericsson (Sweden), Mimosa Networks, Inc. (US), Cohere Technologies, Inc. (US), Siklu Communication, Ltd. (Israel), AT&T Inc. (US), Verizon Communications Inc. (US), Cisco (US), Arqiva (Hampshire), Cellular South, Inc. (C Spire) (US), Orange S.A. (France), United States Cellular Corporation (US), TELUS Corporation (Canada), Telefónica (Spain), Mobile Telephone Networks (MTN) (South Africa), Swisscom (Switzerland), and Hrvatski Telekom (Croatia).

Technological Impact on the Power Supply Market in the Next 5 Years

 The overall power supply market is expected to grow from USD 25.00 billion in 2017 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Power supplies are being used in many verticals such as lighting, telecommunications, consumer electronics, medical & healthcare, industrial, food & beverages, transportation, and military & aerospace. The base year considered for the study is 2017, and the forecast has been provided for the period from 2018 to 2023.

Growing adoption of home and building automation systems, emerging telecommunications sector, increasing demand for energy-efficient devices/appliances are the key factors driving the growth of this market?

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A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, Smartphone’s, and patient-monitoring devices.

The power supply market has been segmented by output power into low, medium, and high. The market for power supply with low output power is expected to grow at the highest CAGR from 2018 to 2023. The high adoption of power supply with low output power in the telecommunications and consumer electronics applications contribute to the rapid growth of the said market.

The power supply market in APAC is expected to grow at the highest CAGR during the forecast period. Moreover, APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

Major players operating in the power supply market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), Acopian (US), Acbel Polytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

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Market Dynamics

Drivers

• Growing adoption of home and building automation systems
• Emerging telecommunications sector
• Increasing demand for energy-efficient devices/appliances

Restraints

• Increase in adoption of high-voltage direct current (HVDC) and renewable energy sources may affect growth of AC-DC market
• Various regional/country-wise regulatory and safety standards

Opportunities

• Growing use of data centers
• Increasing requirement of power supply in medical and healthcare devices

Challenges

Stringent design considerations for input power/nonstandard AC & DC inputs