EMC Testing Market to Grow at Highest CAGR in from 2019 to 2024

According to the new market research report "EMC Testing Market by Offering (Hardware & Software and services), End-Use Application (Consumer Appliances & Electronics, Automotive, Military & Aerospace, IT & Telecommunications, Medical, Industrial), and Geography - Global Forecast 2024", the EMC market is growing at a CAGR of 5.4%, from USD 2.1 billion in 2019 to USD 2.8 billion by 2024; the global market size estimation is provided from 2016 to 2024. 

One of the primary reasons for this rise in demand is the increasing need for safety, owing to factors such as the standardization of electronic products globally, mandatory EMC testing of medical equipment, and increase in the brand proposition of the companies. 

Browse 112 market data Tables and 55 Figures spread through 210 Pages and in-depth TOC on "EMC Testing Market - Global Forecast 2024"

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

The EMC testing market for certification services is expected to grow at the highest CAGR during the forecast period. Certification services ensure product safety and performance attributes. Certification services mainly include customized audit and certification services with respect to quality, health & safety, environment, and social responsibility. These services enable clients to commit to ongoing processes aimed at improving their business performance.

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

The EMC testing market for consumer applications and electronics is expected to grow at the highest CAGR during the forecast period. EMC requirements for consumer appliances are a cross-reference to radio frequency requirements with embedded wireless functionality. Testing service providers offer testing services for wireless technologies such as Bluetooth, cellular, near-field communications (NFC), and Wi-Fi. Furthermore, any electronic device is an interconnection of different systems and components; therefore, the performance of the device is primarily dependent on these components.

APAC to hold largest share of EMC testing market in 2019

Countries in APAC have made huge investments in renewable energy sources such as solar, wind, and nuclear, which makes APAC an important market for the EMC industry. APAC is also gearing up toward a sustainable future with renewable energy at a faster rate. Emerging policies, strategic roadmaps, expanding investments, and improving technologies are driving national governments to aim toward a fossil-free nation. Demand for energy is rising across China, India, and Indonesia due to rapid urbanization and industrialization, and considerable opportunities exist to avoid long-term lock-in with carbon-based energy technologies. Along with vast renewable energy potential, the region already possesses significant knowledge and expertise on renewables.

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A few key players operating in the EMC testing market are SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg), DEKRA (Germany), Yokogawa Electric (Japan), Keysight Technologies (US), Rohde & Schwarz (Germany), Fortive (US), AMETEK CTS (Switzerland).

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Strong Growth in Retail Automation Market

The retail automation market to grow from USD 11.3 billion in 2018 to USD 23.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period (2019–2025). Retail automation offer several advantages, such as; low cost, accuracy, speed and high-quality performance for customers in the retail sector, which, in turn, help in the growth of the market. The implementation of automated technologies in retail industry is one of the major factor driving the market. The objective of the report is to define, describe, and forecast the market size based on type, implementation, Vertical, and Region.

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Retail Automation Market By type, camera segment to grow at the highest CAGR during the forecast period

The retail automation market for camera segment is expected to grow at the highest CAGR of 20.6% during the forecast period. The retail shops and malls are more prone to security risks, such as theft and inventory loss compared with other business properties. Investing in cameras as a retail solution offers several long-term advantages such as maximizing the store profits, decreasing the retail losses, reducing the thefts, and evaluating the employee tasks, as well as understanding the consumer buying behavior.

Retail Automation Market By implementation, the in-store segment to record the highest CAGR during the forecast period

The number of physical stores is increasing gradually in developing regions. The developing regions are highly populated, where the majority of people prefer to buy daily items from stores due to easy accessibility. Thus, despite the evolution of e-commerce, there are visitors who still prefer going and buying products in-stores. The evolving technology in the retail industry would be influential in attracting more number of customers into physical stores. The benefits of automated technologies have led the retailers to implement them in the physical stores. Thus, all these factors contribute to the growth of retail automation market for in-stores in the coming years.

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Retail Automation Market in APAC to grow at the highest CAGR during forecast period

China, Japan, and India are some of the major countries driving the growth of the retail automation market in APAC. In addition to this, the expansion of large-scale retailers is responsible for the high growth rate in this region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Distributed Acoustic Sensing Market Dynamics and Segmentation

The distributed acoustic sensing market is projected to grow to USD 440 million by 2020, at a CAGR of 11.78% from 2015 to 2020.

Distributed acoustic sensing market by single-mode fiber hold the largest market size by 2020

By fiber type, the single mode fiber is projected to lead the distributed acoustic sensing market by 2020. Single mode fiber is prominently used in most DAS applications. Single mode fibers are preferred for DAS as they can be used to cover long distances, thus increasing the range of measurement. They are compatible with other distributed fiber optic sensing technologies. With the increasing implementation of DAS in oilfield services, some vendors also offer the option of using existing multimode fiber for DAS, and this trend is expected to grow during the forecast period.

Oil & gas vertical to lead the Distributed Acoustic Sensing market during the forecast period

In the past decade, the Americas region has been very active in the oil & gas industry. The development of technology for the extraction of shale oil and gas has boosted oil and gas production activities in the region. In fact, the US, once a huge importer of petroleum products, has become a net exporter of the same. Given the complexity of the drilling technology and high cost of the equipment, the implementation of DAS is important in extraction operations to help in reducing operational costs. The oil & gas vertical is the key revenue pocket for the DAS market. The technology helps in delivering enhanced monitoring of downhole seismic activity and data acquisition. The analysis of the data collected by DAS can provide additional information on the well behavior and thus help in optimizing operations.

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Americas to account for the largest share of the distributed acoustic sensing market during the forecast period

The Americas accounted for the largest share of the distributed acoustic sensing market in 2014. The Americas region is home to some of the largest oil and gas-producing players of the world and DAS is increasingly becoming an integral part of the industry. The rise in the shale energy exploration in the region has fostered the growth of the oil & gas industry. The region has also seen growth in the production of tight oil. The US was the top oil producer across the globe in 2014 as per the latest BP statistical review of world energy. The development of the horizontal drilling and hydraulic fracturing technology boosted the market for shale energy in the US, which has emerged as one of the top exporters of petroleum products globally. The Americas region also has a significant share in pipeline integrity management area and in the military vertical.

Key Market Players

Silixa Ltd (UK), Halliburton Co. (US), Omnisens SA (Ireland), Schlumberger NV (US), Ziebel AS (Norway), Fotech Solutions Ltd (UK), Baker Hughes, Inc. (US), and QinetiQ Group Plc (UK) are some of the key players in the distributed acoustic sensing market.

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