Attractive Opportunities in Industrial Control and Factory Automation Industry Explores New Growth Opportunities – Business Data 2018-2024

The Report "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry and Geography - Global Forecast to 2024", The industrial control and factory automation market is likely to reach USD 269.5 billion by 2024 from USD 160.0 billion in 2018, at a CAGR of 9.08%. The growth of this market can be attributed to the increasing use of enabling technologies in manufacturing, rising adoption of industrial robots in manufacturing sector, connected supply chain along with mass production to cater rising population, government initiatives towards, the adoption of industrial automation in various industries.

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Browse 119 market data Tables and 48 Figures spread through 222 Pages and in-depth TOC on "Industrial Control and Factory Automation Market"

“Articulated robots dominate the industrial robot market”

The industrial robots segment is growing at a significant pace during the forecast period and has the highest market share of components in the industrial control and factory automation market. Manufacturers are installing industrial robots to make production and distribution easy and efficient. The installation of industrial robots is lessening the human intervention in production process, thereby reducing the cost of manufacturing with increase in quality and production capacity.

“Process automation and control in industrial manufacturing plant drives the growth for DCS ”

DCS held the highest market share in the solutions of industry control and factory automation market. This growth is attributed to a high rate of industrialization rate in the developing economies. Developing countries have expansion and capacity addition plans related to the power sector, which would boost the demand for DCS. DCS provides process automation and control in industrial manufacturing plants that drive the industrial control and factory automation market. Advantages of using DCS systems in manufacturing plants are decision integrity, simplified operations, and increasing productivity. Some of the application areas of DCS are oil & gas, automobile, chemical, food & beverages, and pharmaceuticals industries.

“Process industries to lead the industrial control and factory automation market from 2018 to 2024”

Process industries had the higher market share in industry control and factory automation market in 2017. The rate of adoption of solutions related to the industrial control and factory automation is high in process industries owing to rising cost pressure on manufacturers to optimize the production process. Furthermore, increasing demand for real-time visibility and complex operations in oil and gas, power, metals and mining, and food & beverages industries is expected to drive the demand for industrial control and factory automation solutions in the process industry. Due to the complex nature of the automation in the process industry, the number of components and technologies deployed in the process industry is higher than the discrete industry. Particularly, control technologies, such as DCS, is employed only in the process industry and the number of PLCs and PACs is employed more in the process industry than the discrete industry.

“APAC to be the largest market for industry control and factory automation during the forecast period”

Asia Pacific (APAC) comprises Japan, China, India, and RoAPAC. APAC is the fastest growing region for industrial control and factory automation market due to the technological innovation and increasing adoption of the automation technologies in various industries. The major application industries for the industrial control and factory automation market in APAC are chemicals, oil & gas, water, semiconductor, electronics, food, and automotive. China is one of the major players from APAC region in the industry control and factory automation market. China has been working on an innovative industrial practice by implementing automation technologies in manufacturing. In addition, research institutes and corporates are collaboratively working to improve the Chinas manufacturing processes. Further, in China, industrial intellectualization and information integration remain the main focus of the government industrial policy. This initiative is expected to increase the demand for the industrial control and factory automation in this country.

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Major players operating in the industrial control and factory automation market Emerson (US), ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider (France), Endress+Hauser (Switzerland), Yokogawa (Japan), Honeywell (US), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (US), HP (US), FANUC (Japan), STRATASYS (US), Progea (Italy), Hitachi (Japan), Vega (Germany), Danfoss (Denmark), Tegan Innovations (Ireland), Krohne (Germany), Rockwell (US), Chaos Prime (US) and Dwyer (US), among many others.

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Attractive Opportunities in Smart Home Industry Explores New Growth Opportunities – Business Data 2018-2024

The Report "Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), Software & Services, and Region - Global Forecast to 2024", the overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.0%.

The growth of the smart home market is driven by factors such as the growing number of internet users and increasing adoption of smart devices; increasing awareness about fitness and rise in disposable incomes in developing economies; increasing importance of home monitoring in remote locations; rising need for energy–saving and low carbon emission-oriented solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; large number of manufacturers expanding their smart home product portfolios; and growing concern about safety, security, and convenience among people.

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Browse 100 market data Tables and 65 Figures spread through 255 Pages and in-depth TOC on "Smart Home Market"

“Smart speakers likely to grow at a high rate during the forecast period”

Smart speaker is a wireless speaker enabled by Bluetooth, Wi-Fi, or other wireless protocols and powered by virtual assistant, which is driven by artificial intelligence. There has been continuous increase in demand for smart speakers, especially in smart homes, owing to increasing consumer demand for advanced and multifunctional devices. Moreover, the proliferation of smartphones has enabled the development of applications to stream music to a specific device, thus fueling the demand for smart speakers. The market for smart speaker market is primarily expected to be driven by the increased adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices.

“The market for proactive type software and services to grow at a higher rate during the forecast period”

The software and services pertaining to smart homes enable users to control smart appliances and devices installed in their homes. There is high competition between the software and service providers in the smart home market, which revolves around developing technically advanced and user-friendly software solutions as well as providing improved and real-time services to customers, on the back of the growing awareness about reducing energy consumption within households.

The proactive type software and services facilitate the transmission of data, along with the best possible solutions, to end users for actions to be taken after receiving the information. The proactive type enables the transfer of a larger volume of data than the behavioral type; it can provide the inputs to end users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption. 

“APAC expected to grow at a high rate during the forecast period”

APAC region is witnessing significant growth due to a number of new residential projects and efforts for strengthening building infrastructure at a significant rate. There is a considerable demand for smart homes in the APAC countries, such as Japan, South Korea, China, and Rest of APAC (RoAPAC). Currently, South Korea is considered a huge market for smart home systems owing to the high demand for various control devices pertaining to lighting control and entertainment control in the country.

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Players such as Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany) are currently dominating the smart home market. Other key players operating in the smart home space are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.

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Automated Border Control Market expected to reach USD 1,577.7 Million by 2023

According to the new market research report "Automated Border Control Market by Solution Type (ABC e-Gate and ABC Kiosk), Component (Hardware, Software, and Services (Installation and Maintenance)), Application (Airport, Land Port, and Seaport), and Geography - Global Forecast to 2023", the automated border control (ABC) market is expected to be worth USD 1,577.7 Million by 2023, growing at a CAGR of 17.45% between 2017 and 2023. The ABC market has a huge potential across various applications, such as airports, land ports, and seaports. The major factors driving the ABC market across the world are increasing passenger travel, rising security concerns, and enhanced traveler convenience in the border crossing process.

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Browse 88 Market Data Tables and 50 Figures spread through 164 Pages and in-depth TOC on "Automated Border Control Market"

The Major Driving factor for the market growth in Europe is the presence of prominent vendors of ABC OT-Morpho (France), secunet Security Networks (Germany), Indra Sistemas (Spain), Arjo Systems (France), IER SAS (France), and Cognitec Systems (Germany), among others.

Market for ABC e-gate expected to grow at higher CAGR between 2017 and 2023

The market for e-gate is expected to grow at a higher CAGR between 2017 and 2023. e-gate installation has helped border crossing authorities process large number of passengers and has enhanced security. Passenger traffic is more at airports than at land ports and seaports.

ABC market for seaport application expected to grow at highest CAGR between 2017 and 2023

The ABC market for seaport application is expected to grow at the highest CAGR between 2017 and 2023. This growth can be attributed to strengthened border integrity and increased passenger traffic at seaports globally. As per the Australian Government Department of Immigration and Border Protection, more than 35 million passengers travel through Australia’s major airports and seaports every year, and the number of travelers at seaports is expected to double in the coming years.

ABC market for software component expected to grow at highest CAGR between 2017 and 2023

Software 

component in the ABC ensures efficiency and performance of biometric and document recognition database algorithms, along with risk assessment for travelers. The higher growth rate of the software component in the ABC market is owing to the increasing need for automation service to optimize efficiency at airports, land ports, and seaports.

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Currently, Europe leads ABC market in terms of market size

Europe is currently leading the ABC market and is projected to be in a leading position for the next few years owing to the high adoption of ABC. The growth of the ABC market in Europe is because of high government funding and support, the presence of leading players, and strong technical base.

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Atomic Force Microscopy (AFM) Market : Comprehensive Study Explores Huge Growth in Future $586 million by 2024

MarketsandMarkets^TM research report "Atomic Force Microscopy (AFM) Market by Offering (AFM, Probes, Software), Grade (Industrial Grade, Research Grade), Applications (Materials Science, Life Sciences, Semiconductor & Electronics, Academics), and Region - Global Forecast to 2024",was valued at USD 441 million in 2019 and is projected to reach USD 586 million by 2024; it is expected to grow at a CAGR of 5.8% during the forecast period. The key drivers of atomic force microscopy is committed support from several governments to promote  nanotechnology and nanoscience research and development. Also, high demand for 3D ICs from semiconductor and electronics industry is is expected to lay new growth opportunity for atomic force microscopy market during the forecast period.

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• Probes offering for Atomic Force Microscopy held the fastest market share in 2019
• Industial grade to hold the largest market share in Atomic Force Microscopy market during the forecast year
• Semiconductors and electronics to hold the fastest market share in Atomic Force Microscopy market during the forecasted year

APAC hold the largest market share between 2019 and 2024

The growth of the atomic force microscopy in APAC market can be attributed to the growing R&D funding for the development of microscopes, increasing nanotechnology research, and growing expertise and academic excellence, along with the availability of nanomaterials at lower costs.

The major players in Atomic Force Microscopy market are Bruker (US), Park Systems (South Korea), Hitachi (Japan), Horiba (Japan), Oxforfd Instrumenst (UK), Nanosurf (Switzerland), WITec (Germany), NT-MDT (Russia), NanoMagnetics Instruments (UK), Nanonics Imaging (Israel).

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Browse 107 market data Tables and 32 Figures spread through 161 Pages and in-depth TOC on "Atomic Force Microscopy Market - Global Forecast to 2024"

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Pet Wearable Market : Comprehensive Study Explores Huge Growth in Future $1,718 million by 2024

MarketsandMarkets^TM research report "Pet Wearable Market by Component (GPS Chips, RFID Chips, Sensors, Wi-Fi, Cellular, Bluetooth Chips, Processors, Memory, Displays, Batteries), Product (Smart Collars, Smart Cameras, Smart Harnesses), and Region - Global Forecast to 2024", is expected to grow from USD 703 million in 2019 to USD 1,718 million by 2024 at a CAGR of 19.6%. The growth of the pet wearable market can be attributed to the increasing concerns toward pet health and wellbeing, and rising pet population and pet humanization, and growing expenditure on pets due to high disposal income. Moreover, rapid advancements in WAN and LPWAN technologies and exponential demand for pet wearables from developing countries in APAC is expected to create substantial growth opportunities for the pet wearable market players.

WT | Wearable Technologies Conference 2019 USA
July 9-10, 2019
Moscone Center North, 730 Howard St, San Francisco, CA 94103, USA

The 34th edition of the globally established WT | Wearable Technologies Conference Series is THE must-attend event for all decision makers in the industry. In 2019, the event is going to take place co-located with the premiere event in the electronics industry of the United States, SEMICON West on July 9-10. Our attendees will not only benefit from outstanding networking opportunities with experts from the WT ecosystem, but can also meet the over 22,400+ visitors of the show, amongst them top purchasers, leading manufacturers, and C-level executives.The WT | Wearable Technologies Conference 2019 USA in San Francisco will guide you through the current status of the wearable market presenting a thrilling conference program, an extensive conference exhibition and networking opportunities with the Who’s Who of the entire WT ecosystem. See what’s next in AI, AR & VR, sensor tech, connectivity, energy solutions, and smart products (hearables, glasses, watches, activity trackers, implants, pills, patches).  KNOW MORE

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• Cellular to register the highest CAGR in the overall market during the forecast period
• Smart Collar to hold the largest size of pet wearable market during the forecast period
• Pet Wearable in North America to hold the largest size of pet wearable market in coming years

Key players in the market are Whistle Labs (US), PetPace (US), Garmin (US), FitBark (US), Tractive (Austria), Link AKC (US), Motorola (US), Num’Axes /EYENIMAL (France), KYON (Greece), Scollar (US), GoPro (US), and Felcana (UK) are among the major players in the pet wearable market.

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Browse 33 market data Tables and 21 Figures spread through 93 Pages and in-depth TOC on "Pet Wearable Market - Global Forecast to 2024"

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Construction Robotics Market : Comprehensive Study Explores Huge Growth in Future 166.4 Million USD by 2023

MarketsandMarkets^TM research report "Construction Robot Market by Type (Traditional, Robotic Arm, and Exoskeleton), Automation, Function, Application (Public Infrastructure, Commercial and Residential Buildings, Nuclear Dismantling and Demolition), and Geography - Global Forecast to 2023", the construction robot market is valued at USD 76.6 Million in 2018 and is expected to reach USD 166.4 Million by 2023, at a CAGR of 16.8% between 2018 and 2023. The market is mainly driven by the factors such as enhanced productivity, quality, and safety due to the implementation of construction robots and growing urbanization worldwide.

World’s Largest Robotics Conference to take place in Canada for First Time
20 May 2019 - 24 May 2019 • Montreal, QC, Canada 

ICRA, the world’s largest robotics conference, is set to be held in Canada for the first time, offering insights into the future of robotics across the globe. ICRA, short for International Conference on Robotics and Automation, is organised by the IEEE, the world’s largest engineering association. Specifically, the IEEE Robotics & Automation Society. With global spending on robotics systems and drones forecast to total $115.7 billion this year alone – an increase of 17.6 percent over 2018 – the world’s largest robotics conference is scheduled to get under way in Montreal later this month, unveiling the latest and greatest in robotics research and innovations from 71 countries under one roof. Flagship conference of the robotics and automation society, a premiere international venue for international robotics researchers KNOW MORE

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• Construction robot market for exoskeleton to grow at highest CAGR during forecast period
• Semi-autonomous construction robots held larger share of overall market in 2017
• Europe is major consumer of construction robots

Key players in the market are Brokk (Sweden), Husqvarna (Sweden), Ekso Bionics (US), Komatsu (Japan), Fujita (Japan), Construction Robotics (US), Fastbrick Robotics (Australia), Autonomous Solutions (US), Conjet (Sweden), TopTec Spezialmaschinen (Germany), Apis Cor (Russia), nLink (Norway), Yingchuang Building Technique Co. (WinSun) (China), Advanced Construction Robotics (US), MX3D (Netherlands), CyBe Construction (Netherlands), CYBERDYNE (Japan), Giant Hydraulic Tech (China), Alpine Sales and Rental (US), and Beijing Borui Intelligent Control Technology (China).

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Browse 66 market data Tables and 32 Figures spread through 128 Pages and in-depth TOC on "Construction Robot Market - Global Forecast to 2023" 

Robots Building Houses, Bricklaying Robot, Brick Robot Major Trending Application of Study insight.

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What will be the role of the standards and regulations by governments and associations in the adoption of AI in healthcare ?

The AI in healthcare market is expected to grow from USD 2.1 billion in 2018 to USD 36.1 billion by 2025, at a CAGR of 50.2% during the forecast period. The huge availability of big data, growing number of cross-industry partnerships and collaborations is fueling the growth of the Artificial Intelligence market. In addition, demand to reduce the imbalance between healthcare workforce and patients is further supplementing the growth of the AI in healthcare market.

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Key Market Players

A few companies in the AI in healthcare market are NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic (US). The market has active participation of start-ups. A few emerging start-ups in the market are CloudMedx (US), Imagia Cybernetics (Canada), Precision Health AI (US), and Cloud  Pharmaceuticals (US).

IBM is among the leading companies in the AI in healthcare market. The company’s Watson is widely used by end users for cognitive computing and data-driven applications. IBM follows organic as well as inorganic growth strategies to improve its position in AI in healthcare and other emerging AI markets. The company has invested ~USD 6 billion to make 15 acquisitions in cognitive, cloud, and security businesses. Also, partnerships/collaborations with AI solution providers/consumers remain the important aspects of the company’s strategy to enhance its footprint in the AI market. The company continues to strengthen its position through strategic organic investments and acquisitions in higher value areas, broadening its industry expertise and integrating AI into more of what the company offers. 

Processor to hold largest market in hardware segment

Increasing need for hardware platforms with high computing power to run various AI software is the key factor accelerating the growth for hardware devices in the AI in healthcare market. Demand for high-computing processors to run AI algorithms continues to surge its growth in the hardware segment. The processor segment consists of MPUs, GPUs, FPGAs, and ASICs. In processors, GPUs are expected to foresee strong growth owing to high parallel computing capabilities, and the same is expected to continue in the coming years.

Context-aware computing to witness higher growth during forecast period

The development of more sophisticated hard and soft sensors has accelerated the growth of context-aware processing. Increased processing power, innovative sensing capabilities, and improved connectivity have resulted in the growth of context-aware processing systems. A few core healthcare applications include lifestyle management and monitoring, in-patient care and hospital management, and virtual assistant.

In-patient care & hospital management to hold significant market size in AI in healthcare market

Artificial Intelligence in planning and scheduling methods can offer substantial support to the management of hospitals and patient care, thereby improving administrative workflow assistance. AI-enabled bots is an AI application that patients can interact with through a chat window on a website or through a telephone. Applications such as scheduling appointments; checking insurance coverage parameters; instantly accessing information about drug interactions and side effects; collecting the latest information about patient medications, care team, and recent procedures; designing special diet plans for patients with dietary restrictions; and engaging with discharged patients to follow up on treatment plans and adherence are supported by these bots. These applications are expected to lead the growth of in-patient care and hospital management systems.

North America to account for significant share followed by APAC in Artificial Intelligence in healthcare market during forecast period

North America, being a developed and technologically advanced region, is likely to be one of the key contributors to the overall AI in healthcare market growth during the forecast period. Moreover, high spending of GDP in healthcare, especially in the US and Canada, is likely to supplement the growth of next-gen technologies such as AI in the region. APAC is likely to closely pursuit the growth of North America and is expected to register the second-fastest growth rate. Improving IT infrastructure, demand for affordable healthcare, and favorable government norms are expected to boost the growth of healthcare AI in the region. 

Recent Developments

• In June 2018, Medtronic and its strategic technology partner, IBM (US) Watson Health, announced the commercial launch of Sugar.IQ smart diabetes assistant, a first-of-its-kind intelligent app designed to simplify and improve daily diabetes management. The Sugar.IQ smart diabetes assistant leverages AI and analytic technologies from IBM Watson Health to continually analyze how an individual's glucose level responds to food intake, insulin dosages, daily routines, and other factors, such as information provided by the app user.
• In July 2018, Micron and Intel announced an update to their 3D XPoint joint development partnership, which has resulted in the development of an entirely new class of nonvolatile memory with dramatically lower latency and exponentially greater endurance than NAND memory. The companies have agreed to complete joint development for the second generation of 3D XPoint technology, which is expected to occur in the first half of 2019. The 2 companies will continue to manufacture memory based on 3D XPoint technology at the Intel-Micron Flash Technologies (IMFT) facility in Lehi, Utah.
• In July 2018, ResMed (US), a global leader in sleep apnea treatment and connected health solutions, and Verily announced their agreement to form a new joint venture. Combining ResMed’s expertise in sleep apnea and Verily’s advanced health data analytics technologies, the US-based joint venture will study the health and financial impacts of undiagnosed and untreated sleep apnea, and develop software solutions that enable healthcare providers to more efficiently identify, diagnose, treat, and manage individuals with sleep apnea and other breathing-related sleep disorders.

Key questions addressed in the report

• Which are the major applications of AI in healthcare market? How big is the opportunity for their growth in the developing economies in the next 5 years?
• Which are the major companies in the AI in healthcare market? What are their major strategies to strengthen their market presence?
• Which AI technology will find its major application in healthcare?
• Which are the leading countries in the AI in healthcare market? What would be the share of North America and Europe in this market in the next 5 years?
• What will be the role of the standards and regulations by governments and associations in the adoption of AI in healthcare?

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