Assistive Robotics Market worth $11.2 billion by 2024

According to the new market research report "Assistive Robotics Market by Mobility, Type (Physically, Socially, Mixed Assistive), Application (Elderly Assistance, Companionship, Handicap Assistance, Surgery Assistance, Industrial, Defense, Public Relations), and Geography - Global Forecast to 2024", The assistive robotics market is expected to grow from USD 4.1 billion in 2019 to USD 11.2 billion by 2024, at a CAGR of 22.3% during the forecast period. Due to the increasing number of people suffering from strokes and spinal cord injuries across the world, demand for assistive robots such as exoskeletons is increasing. Hence, the increasing prevalence of strokes and spinal cord injuries is one of the key factors driving the growth of the assistive robotics market. Another driver for the assistive robotics market includes rising insurance coverage for medical exoskeletons and robotic surgeries.

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Major players in the assistive robotics market include Kinova Robotics (Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso Bionics (US), Ubtech Robotics (China), Barrett Technology (US), and Hyundai (South Korea). Apart from these, Intuition Robotics (Israel) and Mojin Robotics (Germany) are a few of the emerging companies in the assistive robotics market.

Mixed assistive robots to hold largest share of assistive robotics market by 2019

Surgical robots and elderly care robots are covered under the category of mixed assistive robots. In recent times, there has been an upsurge in the adoption of robot-assisted surgeries due to the various advantages they offer. Also, the demand for elderly care robots has risen steadily over the years, owing to the rise in the elderly population coupled with the lack of attendants. Hence, the increasing adoption of robot-assisted surgeries across the world and the rising geriatric population are expected to propel the demand for mixed assistive robots during the forecast period.

Surgery assistance application to dominate assistive robotics market during forecast period

Surgery assistance application is expected to hold the largest share of the assistive robotics market in 2019 and is projected to dominate the market during the forecast period. In recent times, people are moving toward the adoption of robot-assisted surgeries due to the various advantages they offer, such as smaller incisions, decreased blood loss, less pain, and quick recovery. With a large number of people opting for minimally invasive surgeries due to their numerous advantages, the assistive robotic systems in the surgery assistance application are expected to hold the largest share during the forecast period.

North America to hold largest share of assistive robotics market by 2019

North America is expected to hold the largest share of the assistive robotics market in 2019 and is projected to dominate the market during the forecast period. Growing demand from the healthcare sector for rehabilitation and a favorable funding scenario for research on assistive technologies are the key factors driving the market growth of assistive robots in North America.

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Electronic Article Surveillance Market expected to reach ,173 million by 2024

Electronic Article Surveillance Market Technology in uplifting Apparel & Fashion Accessories Stores, Supermarket & Mass Merchandise Stores, Drug & Health Product Stores and Geography by 2024, published by MarketsandMarkets^TM, is expected to grow from USD 981 million in 2019 to USD 1,173 million by 2024, at a CAGR of 3.6%.

Browse 32 market data Tables and 34 Figures spread through 111 Pages and in-depth TOC on - Electronic Article Surveillance Market
 
Modernizing retail sector, and protection against inventory losses, shoplifting, and theft are the major driving factors for the market’s growth during the forecast period. Growing inclination toward digital operations and high growth potential for electronic article surveillance market in emerging economies is expected to offer tremendous growth opportunities in near future.

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“Apparel & fashion accessories stores to dominate electronic article surveillance market (in terms of share) during the forecast period.”

Apparel & fashion accessories are among the major businesses in terms of revenue, investment, trade, and job creation. A need to cater to the growing demand for latest apparels and fashion accessories creates a need for a huge number of stores with technologically advanced systems—such as EAS and video surveillance—for reducing revenue loss. Retail stores are transforming from traditional to modern, with more automation. Also, due to the growing number of consumers, the number of retail stores is also rising at a rapid pace, propelling the growth of the EAS market in this segment.

“Electronic article surveillance market for radio frequency to grow at the highest CAGR from 2019 to 2024.”

The RF technology triggers the alarm when an item is shoplifted; it helps exactly identify which item is being stolen. This knowledge enables the stolen item to be quickly identified and facilitates real-time shelf replenishment of merchandise, resulting in improved sales. Moreover, due to the advanced features such as ultra-wide detection distance, simple installation and operation, low false alarm rate, strong anti-interference ability, and high stability & durability, the market for electronic article surveillance systems based on RF technology is expected to grow at the highest CAGR during the forecast period.

“APAC to grow at highest CAGR in electronic article surveillance market during the forecast period.”

APAC witness robust growth of the EAS market owing to the increasing adoption of EAS in apparel and fashion accessories, supermarket, and mass merchandise stores, among others, due to high shoplifting incidents and shrinkage rates. The  increasing number of supermarkets, hypermarkets, and convenience stores because of the high economic growth, rising consumerism, elevating standards of living, increasing disposable incomes, and changing lifestyles; this is expected to increase the demand for EAS systems in this region.

Key players in the market include Checkpoint Systems (Canada), Johnson Controls (Ireland), Agon Systems (UK), ALL-TAG Corporation (US), Amersec (Czech Republic), TAG Company (UK), Ketec (US), WG Security Products (US), Softdel (US), Shenzhen Emeno Technology (China), Cross Point (The Netherland), Takachiho Koheki (Japan), Stanley Security (US), Shopguard Systems (Hungary), Dexilon Automation (Spain), Feltron Security Systems (UAE), and Sentry Custom Security (Canada).

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Pet Wearable Market expected to reach $1,718 million by 2024

According to the new market 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.

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Major Players in the pet wearable market covered in this report 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).

Cellular to register the highest CAGR in the overall market during the forecast period

In the pet wearable market, pet tracking and geofencing are the major use cases. Cellular technology can be ideal for pet wearable applications such as location tracking with the help of GPS pet trackers that require operation over long distances. Cellular chips enable pet owners to pinpoints their pet’s exact location 24/7. These devices can play a vital role in finding stolen or lost pets and provide owners updates about their whereabouts on their smartphones.

Smart Collar to hold the largest size of pet wearable market during the forecast period

Smart collar accounted for the majority of the global pet wearable market revenue. Smart collars combined with other technologies and components such as Wi-Fi or Bluetooth and provides insights into pet such as their location, training activity, and more. This collar allows for tracking a pet’s location using GPS technology, and monitor, track & receive information and alerts about the pet’s health status and activities.

The rate of employment is increasing steadily around the world, and due to hectic lifestyle and long working hours, pet owners’ demand for smart-connected collars that enable them to connect with their pets from their workplace is rapidly increasing. Moreover, high demand and rising adoption for smart collars can be attributed to their features which maintain an accurate location history and help trigger smartphone notifications.

Pet Wearable in North America to hold the largest size of pet wearable market in coming years

In 2018, North America accounted for the largest share in the global pet wearable market. It is a major hub and an early adopter of new technologies. The increasing trend of pet adoption and humanization, growing disposable income, and rising per capita expenditure on animal healthcare are the factors driving the growth of the pet wearable market in this region. Moreover, North America is home to prominent pet wearable players, such as Whistle Labs, FitBark, and Garmin.

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System in Package Market expected to reach 9.07 Billion USD by 2023

According to the new market research report "System in Package Market by Packaging Technology (2D IC, 2.5D IC, 3D IC), Package Type (BGA, SOP), Packaging Method (Flip Chip, Wire Bond), Device (RF Front-End, RF Amplifier), Application (Consumer Electronics, Communications) - Global Forecast to 2023", the system in package market is expected to grow from USD 5.79 Billion in 2017 to USD 9.07 Billion by 2023, at a CAGR of 9.4%. The factors that are driving the growth of this market are the growing demand for miniaturization of electronics devices, the impact of Internet of Things (IoT), and reduced time-to-market.

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ASE Group (Taiwan), Amkor Technology (US), JCET (China), Chipmos Technologies (Taiwan), Chipbond Technology (Taiwan), KYEC (Taiwan), Intel (US), Samsung Electronics (South Korea), Texas Instruments (US), and Signetics (South Korea) are the major players operating in the system in package market.

By package method, the fan-out wafer level packaging segment is expected to grow at the highest growth rate during the forecast period

The system in package market based on packaging method has been segmented into flip chip (FC), wire bond and die attach (WB and DA), and fan-out wafer level packaging (FOWLP). Intel (US) was the early adopter of flip chip packaging method for packaging of its mainstream CPUs to improve the electrical and thermal performance of the processors. The increasing need for functionalities and reduced package sizes led to the integration of flip chip packaging method in baseband and application processors for mobile platforms. However, FOWLP is a key packaging method used while embedding heterogeneous devices such as baseband processors, RF transceivers, and power management ICs (PMICs). Moreover, the increasing demand for a large number of I/O points for semiconductor devices is expected to generate the demand for FOWLP packaging method.

By device, the RF front-end device holds the largest share of the market

The system in package market for RF front-end packaging method held the largest size in 2016. The rising demand for compact size and high frequency transceivers solutions, in products such as smartphones and tablets, is expected to drive the growth of RF front-end devices.

APAC to account for the largest market size during the forecast period.

The APAC region is expected to hold the largest share of the SiP market during the forecast period. The demand for the SiP technology is more from the consumer electronics sector, particularly for smartphones and tablets. As a result, the presence of big companies in this sector, such as Samsung Electronics (South Korea) and Sony (Japan), is driving the system in package market in APAC.

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Plasma Lighting Market expected to reach $415 million by 2024

According to the new market research report "Plasma Lighting Market by Component (Lightron, Waveguide, and Cavity Resonator), Application (Roadways, Streets, and Tunnels Industrial, and Horticulture), Wattage (300W, 700W, and 1,000W), and Geography - Global Forecast to 2024", the plasma lighting market is expected to be worth USD 329 million in 2019 and reach USD 415 million by 2024, at a CAGR of 4.7% from 2019 to 2024. The growth of this market can be attributed to the increasing awareness across the globe about energy-efficient lighting technologies. In addition, initiatives by governments of different countries to encourage the use of energy-efficient lights are also fueling the growth of the market.

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Key Players operating in the plasma lighting market are Luma Group (US), Ceravision (UK), Hive Lighting (US), Ka Shui International Holdings (China), Green de Corp (China), Gavita (Netherlands), Griffin & Ray (US), Guangzhou Kaiming Industries (China), BIRNS (US) and FusionLux (US).

An industrial segment to hold the largest share of the plasma lighting market in 2019

By application, the industrial segment will lead the plasma lighting market in 2019. The increasing awareness about safety and security of employee is the prime factor behind industrial segment growth. In industrial settings, safety is a primary concern, and proper and adequate lighting is a key factor to maintain high productivity of workers. The improper application of light can result in excessive lighting, leading to energy wastage. The industrial end users can save on lighting expenses and conserve energy by using solid-state and other energy-efficient lighting systems such as LEP.

Europe expected to hold the largest share of the plasma lighting market in 2019

Europe is expected to hold the largest share of the plasma lighting market in 2019. It is among technologically advanced regions of the world. Several European countries are taking initiatives to increase the adoption of energy-efficient, low maintenance, and reliable lighting solutions. Plasma lights have been used in Europe for the past few decades to grow plants in commercial greenhouses. The use of plasma lights to grow plants in this region is gradually increasing from being a supplemental lighting source to becoming the primary source of light in indoor farming.

The population of Europe has expanded rapidly in recent times, and the countries are importing frozen fruits and vegetables from Africa and Asia. Indoor horticulture is gaining rapid momentum in some of the major countries of Europe to obtain fresh produce from local farms. This is expected to generate increased demand for plasma light systems used in greenhouses in the coming years.

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Robotic Process Automation Market expected to reach $5.9 billion by 2025

The report "Robotic Process Automation Market by Process (Automated solution, Decision Support & Management Solution, and Interaction Solution), Operation (Rule Based and Knowledge Based), Type (Tools and Services), Industry, and Geography - Global Forecast to 2025" The robotic process automation (RPA) market is expected to reach USD 5.9 billion by 2025, at a CAGR of 32.6% between 2019 and 2025.

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The growth of this RPA market is mainly driven by the ease in business processes with the installation of robotic process automation; and convergence of robotic process automation with traditional business processes. Moreover, integration of new technologies such as artificial intelligence (AI), and cognitive systems with robotic process automation; and high demand of robotic process automation (RPA) in logistic industry are few major opportunities for robotic process automation market

Robotic process automation market for healthcare and pharmaceuticals will likely to grow at the highest CAGR during forecast period

The robotic process automation market for the healthcare and pharmaceuticals industry is expected to grow at the highest CAGR during forecast period. The healthcare and pharmaceuticals industry is highly information-dependent, as it involves medical records of patients, credentials of patients, information on claims processing, revenue cycle management, etc. In this regard, robotic process automation not only helps reduce operational costs but also ensures greater accuracy. The interactive solutions offered by robotic process automationhelp efficiently manage data, reduce medical transportation costs, lower appointment scheduling errors, and so on.

Robotic process automation tools expected to hold the largest market size of the overall robotic process automation market 

Robotic process automation tools held the largest market size in 2018 owing to its capability of eliminating repeatable and predictable human interactions with business applications by mimicking the way people interact with applications through a user interface and also by following simple rules to make decisions. Tool-based lifecycle management can be divided into requirement definition, initial design, application development, testing, deployment, and release and maintenance. It also involves tracking and documenting changes throughout the process of the application.

North America is expected to dominate the robotic process automation market during forecast year

The robotic process automation market for North America held the largest market size in 2018 and is expected to dominate the market during forecasted period. In the US, BFSI has been leveraging robotics process automation to improve business processes since 2010. Due to the high degree of flexibility and scalability of the solution, as well as greater data processing and workflow management capabilities, there is widespread deployment of robotic process automation in the BFSI space. The growth of robotic process automation in Canada is driven by the ramp-up of the banking and financial industry. Human resource outsourcing, business process outsourcing, and contact center outsourcing have seen tremendous growth in Canada in recent times. The growth of the RPA market in Mexico is driven by the booming manufacturing industry. New factories and manufacturing units are being built in Mexico, requiring proper supply chain management to be implemented to reduce costs. Inventory management, purchase order, stocking goods, and economic order quantity management require automated processes—backed by software bots.

Benefits of Robotic Process Automation (RPA) in various industries

The RPA market report profiles the most promising players in the RPA market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of players. Nice Systems Ltd. (Israel), Automation Anywhere (US), Blue Prism Group Plc (UK), Celaton Ltd. (UK), IPSoft, Inc. (US), Pegasystems Inc. (US), Redwood Software (US), UiPath SRL (UK), Verint Systems Inc. (US), and Xerox Corporation (US) are few dominant players in the robotic process automation market.

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Human Machine Interface Market (HMI) expected to reach 5.86 Billion USD by 2022

According to the new market research report "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration Type (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2022", the HMI market is expected to be valued at USD 5.86 Billion by 2022, growing at a CAGR of 9.0% between 2016 and 2022. Factors such as growing adoption of industrial automation equipment in the manufacturing sector, evolution of industrial internet of things (IIoT) and growing demand for smart automation solution, and growing need of efficiency and monitoring in the manufacturing plant are the factors driving the HMI market.

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The players involved in the development of HMI systems include ABB Ltd. (Switzerland), Advantech Co., Ltd. (Taiwan), Emersion Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International Inc. (U.S.), Kontron AG (Germany), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

“Embedded HMI segment expected to grow at a higher rate during the forecast period”

The market for embedded HMI solution is expected to grow at a higher CAGR during the forecast period. Growing technological developments, increasing need of integrated systems, and ease in machine-to-machine (M2M) communication are some of the prominent factors expected to encourage the adoption of embedded HMI solutions during the forecast period.

“Market for cloud-based HMI to grow at the highest rate between 2016 and 2022”

The cloud-based HMIs are gaining popularity owing to the growing IIoT market and increasing demand for new technology by end-user industries. Furthermore, the cloud-based HMIs are being increasingly adopted as it provides better visibility and competitive edge over others. In cloud-based HMI solutions, service and infrastructure are provided off-site through a third-party service provider or a vendor who runs the software and manages data over internet. It is very important to deal with complex HMI systems as major end-user industries are using intelligent machines, new connected devices, and latest technology monitoring systems. Cloud-based software is creating value for adopters because of the features such as ability to connect the experts to the data from remote locations, cost-effectiveness, and high storage capability. However, the safety and security concern is still a major challenge for the adoption of cloud-based HMI solution.

“North America expected to dominate the HMI market between 2016 and 2022”

The HMI market in North America is primarily driven by the presence of a significant number of HMI solution providers and the growing high-end manufacturing activities in the region. In addition, the rising demand for embedded HMI solutions is expected to encourage the HMI market in North America. The R&D activities in the application areas of HMI are increasing owing to the encouraged adoption of IIoT and machine-to-machine communication (M2M) in various industries in this region. The major players involved in the HMI market include ABB Ltd. (Switzerland), Advantech Co., Ltd. (Taiwan), Emersion Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Kontron AG (Germany), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

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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.

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