Increased Penetration of Smart Cards in Access Control and Personal Identification Applications

The smart card market is projected to reach USD 16.9 billion by 2026 from USD 13.9 billion in 2021; it is expected to grow at a CAGR of 4.0% from 2021 to 2026. Major drivers for the growth of the market are surged demand for contactless card (tap-and-pay) payments amid COVID-19, proliferation of smart cards in healthcare, transportation, and BFSI verticals; increased penetration of smart cards in access control and personal identification applications; and easy access to e-government services and risen demand for online shopping and banking.

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Based on vertical, the telecommunications segment held the largest share of the smart card market in 2020.

A subscriber identity module (SIM) card is a type of microcontroller-based smart card used in mobile phones and other devices. A SIM identifies and authenticates a subscriber to a wireless cell phone network. The telecommunications segment accounted for the maximum share of 42% of the smart card market in 2020. Expanding global mobile network and improvements in its infrastructure are boosting the growth of the market. In addition, COVID-19 led to an increased demand for connectivity. The current crisis provided a push to the trend of digitalization of business and private communication with cellular technology, along with the generalization of digital conferences. Moreover, the penetration of high-end SIM card technologies, such as LTE, 5G, M2M, eSIM, and SWP, is expected to augment the market growth in the coming years.

The contactless segment projected to account for largest size of the smart card market during the forecast period.

A contactless smart card includes an embedded smart card secure microcontroller or equivalent intelligence, internal memory, and a small antenna; it communicates with readers through a contactless radio frequency (RF) interface. Radio-frequency identification (RFID) or near-field communication (NFC) communication technologies are primarily used for contactless smart card applications. COVID-19 is positively impacting the contactless smart card market as the World Health Organization (WHO) and governments across the world are advocating the use of contactless smart cards for various purposes to ensure social distancing to contain the spread of the virus. Contactless smart cards provide ease, speed, and convenience to users. The contactless interface has become highly relevant in the current COVID-19 situation, especially for payment applications, as it facilitates safe and secure transactions without physical contact.

APAC estimated to account for the largest size of the smart card market in 2020

Asia Pacific (APAC) is the largest market for smart cards. The robust financial system that is being increasingly digitized and government agencies incorporating smart chip-based systems for better monitoring of processes are propelling several APAC countries to adopt smart card solutions owing to increasing demand, specifically in the transportation, BFSI, retail, government, and healthcare sectors. Smart cards are used to purchase tickets in metros, buses, and ferries, among others, in several countries in APAC. China is projected to witness the highest demand for smart cards in the region owing to a large consumer base and the presence of a number of smart card manufacturers.

Properly implemented smart cards in all sectors have proven highly effective in combating thefts and fraud. Government projects, such as the Aadhar card in India, drive the demand for smart cards for use in a number of sectors. Moreover, security concerns, particularly within the public sphere, are also expected to fuel the growth of the smart card market in APAC.

Key Market Players

Thales Group (France), IDEMIA (France), Giesecke + Devrient GmBH (Germany), CPI Card Group (US), HID Global Corporation (US), Watchdata (China), Eastcompeace (China), Inteligensa (US), ABCorp (US), and CardLogix (US) are a few major players in the smart card market.

Wi-Fi Chipset Market Growth - Rising Need for Faster Data Transfer and Significant Increase in the Internet Penetration Rate

The Wi-Fi Chipset Market was valued at USD 19.7 billion in 2020 and is estimated to reach USD 25.2 billion by 2026; it is anticipated to grow at a CAGR of 4.2% during the forecast period (2021–2026).

The major factors driving the growth of the Wi-Fi chipset market are Growing number of public Wi-Fi hotspots, adoption of Internet of Things (IoT), growth of Wi-Fi in enterprise and business, rising need for faster data transfer and significant increase in the internet penetration rate. However, several factors such as the decline in the shipment of tablets and PCs over the last few years and long standardization and certification time, are hindering the growth of the Wi-Fi chipset market. Moreover, increase in coexistence issues with LTE in LTE-U due to the use of 5 GHz band is a major challenge for Wi-Fi chipset manufacturers.  

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MU-MIMO configuration is projected to witness the highest CAGR for the forecast period

MU-MIMO are expected to hold a major share during the forecast period. The growing penetration of MU-MIMO Wi-Fi chipsets in enterprise and consumer access point equipment is expected to be the major driver for its growth during the initial years of commercialization. The adoption of these chipsets in smartphones, 4K TVs, and gaming consoles is expected to accelerate the growth of the MU-MIMO Wi-Fi segment during the latter half of the forecast period.

802.11ax to account for largest share of Wi-Fi chipset market during forecast period 

802.11ax is expected to witness rapid growth in the overall Wi-Fi chipset market. This standard is expected to offer the highest spectral efficiency among all other existing IEEE 802.11 standards and is predicted to have a top speed of around 10 Gbps (as tested by Huawei Technologies Co. Ltd (China)). However, to meet the emerging demands for faster speed, a new amendment standard—IEEE 802.11be – Extremely High Throughput (EHT), also known as Wi-Fi 7—is anticipated to be released in March 2021. This new additional 6 GHz band with new features, including speeds up to 320-MHz bandwidth, will help achieve the target of EHT—a maximum throughput of at least 30 Gbps. It will find applications in high-throughput and low-latency services, such as 4K/8K video streaming, AR/VR applications, and online gaming.

Tri band will have highest growth in coming years

The tri band segment is expected to account for a 24% share of the overall Wi-Fi chipset market by 2026. The high growth of the tri-band Wi-Fi chipset segment is attributed to the use of 802.11ac in smartphones and Wi-Fi access point equipment. The upcoming 802.11ax or Wi-Fi 6 is expected to provide 160 MHz channel widths to accommodate data-hungry applications over the 6 GHz band; it could lead to the adoption of Wi-Fi 6 and next-generation security of WPA3

Consumer electronics vertical is expected to hold the largest share in 2026

With the emergence of several smart appliances that can connect to the internet and smartphones, the IoT technology market for the consumer electronics segment is expected to witness healthy growth, and so is the Wi-Fi chipset market. Therefore, it tends to hold the major share of the Wi-Fi chipset market during the forecast period. Similarly, wide coverage range, fewer access points, minimized costs, and simplified network deployment are the factors fueling the demand for Wi-Fi 6 in enterprises, which was the second-largest market for Wi-Fi chipsets in 2020.

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APAC is attributed to grow at the highest CAGR in the Wi-Fi chipset market during ther forecast period (2021-2026)

APAC accounted for the largest share of  the global Wi-Fi chipset market and is expected to become the largest market for Wi-Fi chipsets by 2026, accounting for an estimated 50% share of the market, in terms of volume There are several consumer electronics product manufacturers operating in China, South Korea, and Japan, such as Samsung Electronics Co. Ltd. (South Korea), Huawei Technologies Co. Ltd. (China), ZTE Corporation (China), and Sony Corporation (Japan). The large pool of consumer electronics manufacturers and low-cost manufacturing of Wi-Fi chipsets in China have led to the largest share of Asia Pacific in the Wi-Fi chipset market.

The Wi-Fi chipset market was dominated by Qualcomm Technologies, Inc. (US), Broadcom Inc. (US), MediaTek Inc. (Taiwan), Intel Corporation (US), Texas Instruments Incorporated. (US).

Expected to Boost the Growth of Track Geometry Measurement System Market in the Coming Years

The track geometry measurement system market (TGMS) is expected to be valued at USD 2.8 billion in 2019 and is likely to reach USD 3.7 billion by 2024, at a CAGR of 6.00% during the forecast period. The use of track geometry measurement systems by the companies operating in the railway industry for complying with various standards and regulations is among the key factors driving the TGMS market. Moreover, the high popularity of no contact track geometry measurement system is another factor expected to considerably boost the growth of the TGMS market in the coming years.

By operation type, no contact segment to account for largest market share during forecast period

The track geometry measurement system market, by operation type, is segmented into no contact and contact based track geometry measurement systems. The no contact based TGMS market is expected to witness significant growth during the forecast period. The major benefit of this operation type is that it is suitable for high and low speed. Also, it ensures high accuracy with the help of advanced technologies such as imaging technologies and optical laser sensors. Therefore, this type of operation method is gaining popularity for track geometry measurement.

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By measurement type, vertical profile segment to grow at highest CAGR during forecast period

The track geometry measurement system market for vertical profile measurement type is expected to witness significant growth during the forecast period. Vertical profile is the track layout on the vertical plane. It is defined as the average height of left and right rails, which is calculated from the mid-point of these rails. The track class and permissible vehicle speed limit are determined by the railroad administration bodies by using these parameters as these are crucial for the operational efficiency of a rail.

APAC to account for largest market share during forecast period

APAC is expected to account for the largest share of the track geometry measurement system market during the forecast period. The market in this region is also expected to witness significant growth during 2019–2024. One of the major reasons for the leading position of APAC is the rapid expansion of high-speed rails and mass transit system in the APAC countries such as China and India.

Key Market Players

Key players in the track geometry measurement system market include ENSCO (US), Fugro (Netherlands), MER MEC (Italy), Balfour Beatty (UK), Plasser & Theurer (Austria), Siemens (Germany), R. Bance & Co. (UK), Bentley Systems (US), Goldschmidt Thermit Group (Germany), and Egis (France). ENSCO is a well-known player in the TGMS market.

Expected to Drive the Growth of Ground Penetrating Radar Market in the Next 5 Years

The ground penetrating radar market is expected to reach USD 726 million by 2024 from USD 493 million by 2019 at a CAGR of 8.1% from 2019 to 2024. The major key factors driving the growth of this market are concerns related to safety and protection of underground utilities, advantages of GPR systems over other traditional technologies, and government support for deployment of GPRs, among others.

Browse 63 market data Tables and 34 Figures spread through 130 Pages and in-depth TOC on "Ground Penetrating Radar Market - Global Forecast to 2024"

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Services to witness higher CAGR in ground penetrating radar market during forecast period

The ground penetrating radar market for services is expected to grow at a higher CAGR during the forecast period. This growth is due to factors such as the rise in the practice of procuring GPR systems on a rental basis owing to their high cost of ownership, continuous innovation in GPR, and imposed regulations and standards by the government for using a suitable detecting device before commencing digging, demolishing, or constructing any infrastructure.

Cart-based GPR systems to account for largest size of ground penetrating radar market during forecast period

Cart-Based GPR systems are expected to account for the largest share of GPR market for the forecast period. These systems enable the addition of more antennas and display units. They can collect data in any environment for any application. The cart-based GPR equipment provide reliable and high resolution data about depths of subsurfaces.

Americas to account for largest size of ground penetrating radar market during forecast period

The Americas is expected to hold the largest size of the ground penetrating radar market during the forecast period. The aging civil structures and deteriorating buildings because of harsh environmental conditions, resulting in increased maintenance, repair, and overhaul cost, would drive the demand for the market in the region.

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Key Market Players

IDS Georadar (Italy), Sensors & Software Inc. (Canada), Guideline Geo (Sweden), Chemring Group (UK), Geophysical Survey Systems, Inc. (US), Leica Geosystems AG (Switzerland), Radiodetection (UK), Penetradar Corp. (UK), Utsi Electronics Ltd. (UK), Hilti ( Liechtenstein), Pipehawk PLC (UK), and Geoscanners (UK) are among a few major players in the ground penetrating radar market.

Robot End Effector Market - Increasing Adoption of Collaborative Robots

The robot end effector market is projected to grow from USD 1.9 billion in 2021 to USD 4.4 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.8% from 2021 to 2026. The market has a promising growth potential due to several driving factors including, growing demand of modular end effectors owing to their cost effectiveness associated with redesigning; adoption of collaborative robots in heavy and non-heavy industries due to strong promotion of industry automation principles such as Industry 4.0; and initiatives by governments and public-private companies to mitigate COVID-19 impact.

Due to the fast-changing nature of industries, the demand for collaborative end effectors is increasing. This scenario is observed in the consumer goods industry, specifically packaging, where the shape, size, surface, or weight of the packaging is constantly changing. A collaborative robot or a cobot is a system that is designed to work alongside humans in a shared workspace in contrast to typical industrial robots operating autonomously. It is a relatively new concept that was first drafted and initiated in 1994 and has been pioneered for actual use only in the last decade. The collaborative robot market is expected to witness a high CAGR of 42.8% between 2021 and 2026, with the presence across every major industry from automotive and electrical & electronics industries to pharmaceutical & cosmetics and food & beverage industries. There are about 42 companies developing and marketing this technology in some form or another.

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Opportunity : Growing demand for electric grippers

Pneumatic grippers, which are the most common type of grippers, provide less flexibility and control over grip forces. In the electrical & electronics and pharmaceutical & cosmetics industries, where robots are installed in cleanrooms or any other location with controlled atmospheric conditions, pneumatic systems are avoided due to the risk of air contamination. On the other hand, hydraulic grippers are not used in the food & beverage and pharmaceutical & cosmetics industries due to the risk of oil spillage in case the hydraulic lines break. Electric grippers address many of the shortcomings presented by other grippers. Initial iterations of electric grippers were slow and inefficient and could not match the gripping forces compared to others. Current-generation electric grippers, however, have the speed and strength to match their pneumatic counterparts with additional benefits. They are fully programmable, giving users finer control over speed and gripping force. A single electrical gripper can handle a wide variety of parts. Since they are electric, they also offer positional feedback and can send the status of the operation, such as jaw position, speed, or grip detection, to the control unit. Pneumatic grippers only have 2 states of operation—fully open and fully closed—but the electric counterpart can also have a partially open or closed state that can decrease cycle time during operation if programmed intelligently.

Challenge : Interoperability issues and difficulty in integration of different robotic framework with existing facilities

Interoperability is a very important function in any factory or manufacturing unit. There must exist a 3Dlar framework for both hardware and software to connect and coordinate various end effector systems. The focus is not only on the software side, which is used for programming, diagnosing, and monitoring but also the interchangeability of hardware between the end effector and robot arm. There have been cases in the industry where a client has bought a robot arm and an end effector separately that were not fully compatible with each other, and the setup was a huge challenge from the onset. It is currently common in the industry to switch end effector mid-cycle to accommodate different parts such as vision systems or replacement of the end effector, owing to better performance-cost ratio. It is the role of the integrator, rather than the manufacturer or end user, to decide on the implementation and set up of the end effector. Interoperability issues, therefore, present a big challenge for SMEs due to their unique requirements and lack of personnel to set up a complex automation setup. Companies have now started to implement plug-and-play functionality in many of their robots to minimize interoperability issues at both software and hardware levels. 

Increasing Demand for Waterjet Cutting Machines in APAC Region

The waterjet cutting machine market is projected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 6.2% from 2021 to 2026. The key factors fueling the growth of the waterjet cutting machine market include high operational excellence, rise in adoption of waterjet cutting machines across industries, and growth of the automotive industry. Additionally, an increase in demand for waterjet cutting machines from industries in APAC is expected to create an opportunity for the waterjet cutting machine market.

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Driver: High operational excellence

The waterjet cutting machine has a range of applications across industries. The waterjet cutting machine is flexible i.e. capable of cutting irregular shapes from any material with exceptional precision and edge quality. The waterjet cutting machine mixed with abrasive can cut almost any shape and thickness which includes bonded laminated materials such as aluminum composite panel and rubber-lined wear plates. Additionally, waterjet is a cold cutting process that eliminates problems caused by heat distortion and hardened edge, which offers an advantage for intricate metal fabrication and products which require additional machining after cutting. Furthermore, the waterjet cutting machine offers immediate high cutting quality ensures a precise result, avoiding an additional finishing process. This significantly accelerates the cutting process and saves time, increasing the overall efficiency.

Waterjet cutting machines are capable of cutting materials such as rubber, gaskets, foam, metal, plastics, and composites. However, high energy consumption, sensitivity to environmental conditions, probability of improper selection, poor maintenance, high cost of ownership, and difficulties faced during fabrication are some of the major problems faced during the handling of any equipment. The energy consumed by waterjet cutting machines directly contributes to the operating cost of any company, which makes it a serious issue for the company. Additionally, there are several factors such as water, abrasive, labor, power, parts, and miscellaneous that can affect the hourly running cost of a waterjet cutting machine. Additionally, the advanced control software for waterjet cutting machine adds an extra cost for any company operating a waterjet cutting machine

Opportunity: Increasing demand for waterjet cutting machines from industries in APAC

Industries such as automotive, food, electronics, and aerospace in emerging markets are registering a high growth rate, which is projected to drive the market for waterjet cutting machines. Automation is considered the largest and fastest-growing segment in the cutting industry as it considerably increases productivity and safety and reduces time, which fuels the demand for waterjet cutting machines. Additionally, the increased population in APAC produces an increased demand for effective mobility. Many countries across the APAC region stand out as strong competitors in the automotive sector. Countries such as Japan, China, and South Korea have car manufacturing companies. Waterjet cutting machines are likely to have a huge impact on the automotive, aerospace, and electronics industries, as they can be used to cut any materials used in industries.

Challenge: Development of cost-effective technologies

The waterjet cutting technology can be an expensive one for industries; however, they play an important part in various applications. Sensitivity, selectivity, stability, cost, and portability are the aspects that customers consider while purchasing such equipment. For instance, cutting machines based on waterjet technology are more expensive than machines based on traditional cutting technologies; however, these machines are far better in accuracy and reliability than the traditional ones. These devices are designed to meet requirements such as high sensitivity and selectivity but are highly-priced. Therefore, it remains a challenge to design a cost-effective technology that is affordable for consumers.

Precision Planting Market Growth to spur with Increasing Smart Agriculture & Farming

The precision planting market is estimated to be worth USD 3.6 billion in 2020 and projected to reach USD 4.6 billion by 2025, at a CAGR of 5.1%. The market has a promising growth potential owing to several driving factors such as increasing focus on farm efficiency and crop productivity due to the rising global population, increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques. Several governments are providing subsidiaries and promoting the benefits of using precision planting to increase awareness regarding the benefits of this technology.

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The precision planting market in APAC is expected to grow at the highest CAGR from 2020 to 2025. In APAC, the market is currently growing at a significant pace in India, Australia, China, and Japan. These countries contribute a considerable market share in this region. In APAC, Australia has witnessed substantial adoption of precision planters due to the presence of a large number of farms sized above 1,000 ha. The average farm size is Australia is ~4,000 ha, which provides an ideal environment for investing in high-speed precision planting systems due to better returns on investment and economies of scale.

The precision planting market for drones is expected to grow at a highest CAGR during the forecast period. Drones are expected to witness robust growth for plantation in forestry to overcome the issue of climate change. Drones can plant 60 to 100 times faster than manual methods, which is one of the prominent reasons for the highest growth rate of this segment.

The services segment is expected to grow at the highest CAGR from 2020 to 2025. The increasing demand for managed services is the major reason behind the high growth of this segment. The growing demand for connectivity services to ensure proper connectivity between the hardware devices and the end-user interface is another factor propelling the growth of the services market.

The electric drive segment is expected to grow at a higher CAGR during the forecast period owing to the various benefits associated with it, such as the high speed of seeding and planting as compared with conventional planters, better accuracy, and high efficiency due to the use of less power and energy.

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Forestry application, which mainly uses drones, is expected to witness the highest growth rate during the forecast period. Every year, millions of acres of forests are being deforested, which is adversely impacting the climate across the world. Due to the urgency of reforestation with greater speed, the adoption of planting technologies in forestry is expected to witness the highest growth during the forecast period.