Motion Sensor Market expected to reach $9.3 billion by 2025

 

According to the new market research report on the "Motion Sensor Market by Motion Technology (IR, Ultrasonic, Microwave, Dual Technology, & Tomographic), Application (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, & Industrial), and Geography - Global Forecast to 2025", the motion sensor market is estimated to grow from USD 5.7 billion in 2019 to USD 9.3 billion by 2025, at a CAGR of 8.3%. The market is mainly driven by huge demand for consumer electronics; stringent government regulations for automotive; use of MEMS technology in motion sensors; growing adoption of automation; rising demand from emerging economies; and increasing expenditure in defense.

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Browse 71 market data Tables and 41 Figures spread through 155 Pages and in-depth TOC on "Motion Sensor Market - Global Forecast to 2025"

Market for dual technology to grow at highest CAGR during forecast period

The market for dual technology is expected to grow at the highest CAGR during the forecast period. Dual technology motion sensing is widely used in consumer electronics and automotive applications. Presently, this market holds significant value and is expected to witness high growth in the coming years owing to the use of motion sensors for high-precision motion detection. The markets for infrared and microwave motion technologies are expected to grow at the second-highest CAGR during the forecast period.

Consumer electronics application to hold largest share of motion sensor market during forecast period

Based on application, consumer electronics application is expected to hold the largest share of the overall motion sensor market during the forecast period. The consumer electronics segment is driving the market for motion sensors. The growth is attributed to the increasing demand for smartphones & tablets. Moreover, the increased demand in the interactive motion gaming and the use of gyroscopes in smart gadgets are also driving the growth of the motion sensor market.

Europe to remain a major consumer of motion sensors during the forecast period

The motion sensor market in Europe is expected to account for the largest share of the overall motion sensor market throughout the forecast period. Europe is emerging as the manufacturing hub for applications such as automotive and consumer electronics, which are also the major contributors to the motion sensor market. Therefore, Europe holds the leading position in this market. The Americas is the second-largest market for motion sensors and it is expected to hold its position during the forecast period. Growing industrial and home automation; emerging applications, such as augmented and virtual reality and IoT; and huge defense expenditure by the US government are the major factors driving this market.

The report profiles the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are STMicroelectronics (Switzerland), Murata Manufacturing (Japan), Honeywell International (Japan), NXP Semiconductors (Japan), Analog Devices (US), Microchip Technology (US), TDK InvenSense (US), Bosch Sensortec (Germany), Memsic (US), Kionix (US), TE Connectivity (Switzerland), IFM Electronic (US), Sensata Technologies (US), Xsens Technologies (Netherlands), Colibrys (Switzerland), Seiko Epson (Japan), KVH Industries (US), InnaLabs (Ireland), Qualtre (US), and Panasonic Electric Works (Germany).

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Interactive Display Market expected to reach $13.2 billion by 2025

 

The report "Interactive Display Market with COVID-19 Impact Analysis, by Product (Interactive Kiosk, Whiteboard, Table, Video Wall, Monitor), Technology (LCD, LED, OLED), Panel Size, Panel Type, Vertical, and Geography - Global Forecast to 2025", is expected to grow from USD 9.0 billion in 2020 to USD 13.2 billion by 2025, at a CAGR of 8.1%. The market growth can be attributed to several factors, such as growing demand for gamification and digital classrooms, growing adoption of interactive displays in retail sector, declining price of displays, easy availability of interactive products, and increased end-user engagement by using interactive displays for various applications—such as learning, presentations, signage, wayfinding, and ticketing.

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Interactive whiteboard held the largest share of the interactive display market in 2019

The advent of interactive learning and advancements in teaching methodologies drive the growth of the market for interactive whiteboards. Due to rapid advancements in technology, companies focus on innovation to provide variety and additional features in products. Researchers associated with different companies are focusing on integrating new technologies in conventional interactive white board to make them user-friendly and interactive. Artificial Intelligence (AI) is one such technology, which provides huge opportunities for the interactive whiteboard market to grow.

32–65” held the largest share of the interactive display market in 2019

Interactive displays with screen sizes between 32 inches and 65 inches are mainly used in the healthcare and hospitality sectors. Besides, these screens are also used in restaurants as menu boards to indicate prices, ingredients, and waiting time of the orders taken from customers. In the healthcare sector, many interactive healthcare smart displays are specially designed for the hospital environment.

Flat panel type to dominate the interactive display market during the forecast period

The interactive display market is currently dominated by the flat panel displays only. The other 2 panel types are in a very nascent stage in the interactive ecosystem, as of now, and are expected to grow at a high rate during the forecast period. Going forward, transparent displays are expected to be used more in interactive tables, kiosks, and monitors.

North America is leading the market for interactive display in 2019

North America is the leading region in terms of market size related to interactive display applications. The interactive display market is estimated to grow significantly over the next few years in North America. In the current market scenario, the US dominates the interactive display market in North America. Mexico is expected to rapidly adopt interactive displays in the near future. Therefore, the interactive display market is expected to have potential opportunities in North America.

Some of the key companies operating in the market are Samsung Electronics (South Korea), LG Display (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard Optoelectronic (Planar) (China), Sharp (Foxconn) (Japan), Elo Touch Solutions (US), Crystal Display Systems (UK), ViewSonic (US), Horizon Display (US), and so on.

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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European Smart Home Market worth $39.6 billion by 2025

 

According to the new research report, the "European Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025", size is expected to grow from USD 23.2  billion in 2020 to USD 39.6  billion by 2025, at a CAGR of 11.3%. The growth of the market is driven by many factors, such as an increasing number of internet users, increasing disposable income of people in developing economies, the rising importance of home monitoring in remote locations, and the growing need for energy-saving & low carbon emission-oriented solutions. Moreover, the rapid proliferation of smartphones & smart gadgets, expansion of smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population will fuel the demand for smart home solutions.

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Browse 150 market data Tables and 57 Figures spread through 245 Pages and in-depth TOC on "European Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025"

The smart speakers market is likely to grow at a high rate during the forecast period.”

The growth of the smart speaker market is driven primarily by the increasing adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers.  Further, recent developments in artificial intelligence (AI) and natural language processing (NLP) to enhance voice recognition capabilities have increased the overall demand for smart speakers in smart homes.

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

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 inputs to end-users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption.

Proactive solutions are more beneficial than the behavioral type as they can also send recommendation signals to end-users to take necessary actions to reduce energy consumption. Moreover, based on the user’s actions, measures to control electronic devices can be implemented. Due to these advantages, the market for proactive type software and services is expected to grow at a higher rate during the forecast period.

“The European smart home market is expected to grow at a significant rate during the forecast period.”

The drive for “green city” projects brings more energy efficiency in most EU countries. This has created a market opportunity for the manufacturers of energy-efficient smart lighting solutions. Europe would probably be the leading adopter of LED solutions. An increase in construction activities, followed by a growth in new installations of lighting fixtures and dimmers, drives the smart lighting market in this region. Moreover, some consumers and professional lighting companies are switching to LEDs. All these factors have substantially contributed to boosting the demand for smart homes in Europe.

The smart home market is currently dominated by Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany).

Other players operating in the smart home market 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.

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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3D Sensor Market expected to reach $10.0 billion by 2025

The report "3D Sensor Market by Type, (Images Sensor, Position Sensor, Acoustic Sensor, Accelerometers), End-Users, Technology, (Stereo Vision, Structured Light, Time-of-Flight, Ultrasound, and Others), Connectivity, and Region - Global Forecast to 2025", is expected to grow from USD 2.9 billion in 2020 to USD 10.0 billion by 2025, at a CAGR of 27.9%. Rising demand for 3D-enabled devices in consumer electronics and increasing demand for medical imaging solutions are the key factors augmenting the market growth.

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The image sensor segment to grow at the highest CAGR during 2020–2025

The market size for 3D image sensors is projected to grow at the highest CAGR during the forecast period. An image sensor is one of the critical components of 3D technology, as the majority of the applications of 3D sensors require 3D imaging.

There are three types of image sensors—CMOS 3D, 3D electro-optical, and 3D time-of-flight. The increasing adoption of smartphones and cameras has enabled the growth of the CMOS 3D sensors market owing to their use in these devices as well as other consumer electronics. Many upcoming smartphones are expected to have 3D sensors in them.

Consumer electronics to dominate global 3D sensor market in 2020

The consumer electronics segment is expected to be the largest end-user of 3D sensors in 2020. The application areas of 3D sensors in consumer electronics include mobile phones, wearable electronics, tablet PCs, cameras, and remote controls. Various 3D sensors, such as 3D image sensors, 3D position sensors, and 3D accelerometers, are used in these consumer electronics devices. Intelligence, reliability, low power consumption, low-cost, and high integration are the drivers for the integration of 3D sensing technology with consumer electronics.

North America to hold the largest share of the 3D sensor market in 2019

In terms of value, North America is expected to dominate the 3D sensor industry in 2020. The rising demand for 3D sensors in consumer electronics, industrial, automotive, healthcare, and security & surveillance end-use industries is expected to support the market growth in North America. The presence of prominent system suppliers and sensor manufacturers make North America one of the most potential markets for 3D sensors. Some of the 3D sensor manufacturers in the US are Cognex Corporation (US), Microchip Technology Inc. (US), Occipital, Inc. (US), OmniVision Technologies, Inc. (US), and Qualcomm Technologies, Inc. (US).

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Top Robotics Market expected to reach $176.8 billion by 2025

 

The report "Top Robotics Market with COVID-19 Impact Analysis by Top Industrial Robotics (Articulated, SCARA, Cartesian, Parallel, Collaborative), Top Service Robotics (Logistics, Domestic, Medical, Defense, Rescue, and Security) - Global Forecast to 2025", is projected to grow from USD 76.6 billion in 2020 to USD 176.8 billion by 2025; it is expected to grow at a CAGR of 18.2% during the forecast period. Owing to COVID-19, the top robotics market is estimated to have lower growth for 2019–2020 than expected. The key reason for this is that the market for industrial robots is expected to be severely impacted due to COVID-19 during Q3 and Q4 of 2020, which can be attributed to a slowdown in production in the large industries such as automotive and metals & machinery. Some service robots, such as drones and AGVs, are witnessing increased growth due to the need for no contact delivery. However, milking robots are expected to have a decline due to supply chain disruptions in agriculture.

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Market for personal & domestic service robots is projected to grow at a higher CAGR during the forecast period

Personal & domestic service robots are meant for household chores, educational purposes, entertainment, and assistance to the elderly, as well as people with special needs. Robots used for personal and domestic purposes include vacuuming robots, lawnmowers, pool cleaning robots, window cleaning robots, gutter cleaning robots, exoskeletons, toy robots, hobby systems, educational robots, and robots for assistance and elderly care. The market for personal and domestic robots is expected to grow at a higher CAGR during the forecast period. This can be attributed to initiatives such as offering robots on a rental basis. For instance, Pepper, a humanoid manufactured by SoftBank Robotics (Japan), is available on a subscription contract of USD 360 per month over a period of 36 months (excluding fixed and maintenance costs), distributing the total cost of USD 14,000. Robotic vacuums and lawn mowers have increased their value proposition due to innovative features and technology, making then more attractive and practical to buyers

Market for ground robots projected to grow at highest CAGR during the forecast period

Ground-based robots can be used on the surface of the earth without human presence in applications such as medical, logistics, and personal services. The ground environment constitutes of automated guided vehicles (AGVs), cleaning robots, agricultural robots, surgical robots, entertainment robots, inspection robots, humanoid robots, powered exoskeletons, telepresence robots, and others. Ground robots are used for applications such as surgeries, cleaning, and elderly care and communication through telepresence and assistance. With the increase in nuclear families and global population, the number of households has increased, generating more demand for vacuuming robots. According to the World Economic Forum 2018, “The world needs to build 2 billion new homes over the next 80 years.” Also, the increase in the aging population worldwide has increased the demand for assistive robots, particularly in countries such as China and Japan, and affordable prices are driving the market of vacuuming robots.

Automotive to dominate the industrial robotics market from 2020 to 2025

The automotive industry is one of the biggest users of industrial robots in the market. Automotive manufacturers strive for consistency and repeatability since any issue can stop the flow in a vehicle assembly line. Traditional industrial robots in the automotive industry are primarily used for productivity. For instance, Great Wall Motors (China) has installed 27 IRB 7600 robots from ABB (Switzerland) to facilitate handling and welding applications. It is considered to be among the most productive manufacturing lines in the industry. Collaborative robots, on the other hand, are deployed for working alongside factory workers. For instance, Nissan (Japan) installed UR10 robot from Universal Robots (Denmark) to loosen engine bolts and install engine block intake manifolds.

APAC to have highest share of top industrial robotics market and is also estimated to grow at the highest CAGR during forecast period

APAC is considered as a major manufacturing hub in the world and expected to provide ample growth opportunities to the industrial robotics market in this region. The industrial robotics market in APAC is expected to witness higher growth than the matured markets in Europe and North America due to low production costs, easy availability of economical labor, lenient emission & safety norms, and government initiatives for Foreign Direct Investments (FDIs). The ageing population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. Increasing labor costs in APAC is also forcing manufacturers to automate to maintain their cost advantage. Therefore, strong growth for collaborative robots is expected in APAC.

Major vendors in the top robotics market include ABB (Switzerland), YASKAWA (Japan), FANUC (Japan), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), DENSO (Japan), NACHI-FUJIKOSHI (Japan), Seiko Epson (Japan), Dürr (Germany), Universal Robots (Denmark), Omron Adept (US), b+m Surface Systems (Germany), Stäubli (Switzerland), Comau (Italy), Yamaha (Japan), IGM (Austria), ST Robotics (US), Franka Emika (Germany), CMA Robotics (Italy), Intuitive Surgical (US), DJI (China), Daifuku (Japan), iRobot (US), DeLaval (Sweden), Kongsberg Maritime (Norway), Northrop Grumman (US), Neato Robotics (US), Swisslog Holding (Switzerland), Stryker (US), Lely (Netherlands), ECA GROUP (France), 3DR (US), SoftBank Robotics Group (Japan), PrecisionHawk (US), UBTECH Robotics (China), Parrot Drones SAS (France), CYBERDYNE (Japan), GE Inspection Robotics (Switzerland), Starship Technologies (US), ecoRobotix (Switzerland), HARVEST CROO (US), and GRAAL (Italy). Apart from these, Hyundai Robotics (South Korea) and Moley Robotics (UK) are among a few emerging companies in the top robotics market.

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
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Compound Semiconductor Market expected to reach $43.4 billion by 2025

 

The report "Compound Semiconductor Market with COVID-19 Impact Analysis by Type (GaN, GaAs, SiC, InP), Product (LED, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Power Supply), and Geography - Global Forecast to 2025", size is expected to grow from USD 32.0 billion in 2020 to USD 43.4 billion by 2025, at a CAGR of 6.3%. The increasing use of compound semiconductors in LED applications has fueled the demand for compound semiconductors. The growing demand and implementation of GaN and SiC in the semiconductor industry is expected to play a vital role in the growth of the compound semiconductor market.

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Major players in the compound semiconductor market include Nichia (Japan), Samsung Electronics (South Korea), ams (Austria), Qorvo (US), Skyworks (US), Cree (US), GaN Systems (Canada), Infineon (Germany), Mitsubishi Electric (Japan), NXP (Netherlands), and ON Semiconductor (US).

Browse 168 market data Tables and 63 Figures spread through 249 Pages and in-depth TOC on "Compound Semiconductor Market with COVID-19 Impact Analysis by Type (GaN, GaAs, SiC, InP), Product (LED, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Power Supply), and Geography - Global Forecast to 2025"

The compound semiconductor market includes major Tier I and II players like Nichia, Samsung Electronics, ams, Qorvo, and Skyworks. These players have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and RoW. COVID-19 has impacted their businesses as well. Multiple manufacturing facilities of players have shut down due to COVID-19. We expect that the semiconductor industry would decline significantly globally in 2020 due to COVID-19. This also translates into a snowballing effect on the compound semiconductor market. This could lead to lower research expenditure related to compound semiconductors.

Increasing use of GaN in LED and RF devices is expected to result in the segment occupying majority of the compound semiconductor market share

GaN is estimated to have the largest market share by value. GaN has been increasingly used in LED, semiconductor power devices, and radiofrequency (RF) devices. GaN LEDs are used in applications such as general lighting, consumer devices, commercial, and automotive. GaN is mostly used in LED applications owing to its wide-bandgap properties. LED contributes to the largest share of the GaN market. GaN is used to make white LEDs. Increasing demand for GaN LEDs in various applications, such as general lighting, signage, and automobiles, is expected to drive the growth of the GaN market.

GaN is also finding importance in RF devices as GaN devices have the ability to combine high RF power output over broad bandwidths at high frequencies. As industry shifts towards the adoption of 5G networks for >6GHz, band silicon will not be able to meet various requirements of networks as silicon devices operate well below 3GHz. In the higher frequencies being utilized for 5G, such as 3.5 GHz, GaN is more efficient than LDMOS/Silicon devices. Hence GaN will gain traction for 5G applications, particularly for base station power amplifiers

Telecommunication application segment is estimated to be the largest market

Telecommunication application is estimated to be the largest segment in the compound semiconductor market. 5G is providing a huge opportunity for compound semiconductors for telecom applications. The growth of telecommunication application is mainly driven by increasing demand for RF devices. Rapid advancements in the telecom sector are witnessed by developed and emerging countries across the world. The technological shift from 3G to 4G/LTE and now into 5G has increased the network traffic through mobile devices and resulted in increased network interferences across the communication channels. As industry shifts towards the adoption of 5G, RF content used per smartphones expected to increase, this would drive the growth of the market during the forecast period. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, it is necessary to use a power amplifier manufactured with compound semiconductor technology, which is expected to drive the market growth during the forecast period.

APAC likely to emerge as the largest compound semiconductor market

APAC is estimated to be the largest market for compound semiconductors during the forecast period. The rapid market penetration of GaN and SiC in power devices, where GaN and SiC devices are increasingly replacing silicon counterparts, is predominant across several application segments in APAC. For power devices, the growing number of GaN and SiC power applications creates huge revenue potential in this region. This attracts several industry players to mass-commercialize GaN and SiC power devices for several power applications, which, in turn, are increasing the revenue potential of the compound semiconductor market 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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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USA : 1-888-600-6441

Smart Home Market expected to reach $135.3 billion by 2025

 

According to the new research report "Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025", the global smart home market size is expected to grow from USD 78.3 billion in 2020 to USD 135.3 billion by 2025, at a CAGR of 11.6%. The growth of the market is driven by many factors, such as an increasing number of internet users, increasing disposable income of people in developing economies, the rising importance of home monitoring in remote locations, and the growing need for energy-saving & low carbon emission-oriented solutions. Moreover, the rapid proliferation of smartphones & smart gadgets, expansion of smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population will fuel the demand for smart home solutions.

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Browse 295 market data Tables and 68 Figures spread through 319 Pages and in-depth TOC on "Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025"

“The smart speakers market is likely to grow at a high rate during the forecast period.”

The growth of the smart speaker market is driven primarily by the increasing adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers. Further, recent developments in artificial intelligence (AI) and natural language processing (NLP) to enhance voice recognition capabilities have increased the overall demand for smart speakers in smart homes.

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

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 inputs to end-users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption.

Proactive solutions are more beneficial than the behavioral type as they can also send recommendation signals to end-users to take necessary actions to reduce energy consumption. Moreover, based on the user’s actions, measures to control electronic devices can be implemented. Due to these advantages, the market for proactive type software and services is expected to grow at a higher rate during the forecast period.

“The APAC smart home market is expected to grow at a high rate during the forecast period.”

The smart home market in APAC is expected to grow at a high rate during forecast period. Owing to the rising number of new residential projects and an increasing number of initiatives toward strengthening the building infrastructure in the region. There is a considerable demand for smart homes in APAC countries such as Japan, South Korea, China, and Rest of APAC (RoAPAC). Currently, China and South Korea are considered huge markets for smart home systems due to the high demand for various control devices, including lighting control solutions, in the country. The presence of a large base of end-users in advanced economies such as China, Japan, and South Korea and the high demand for energy management systems are the major factors that are likely to fuel the demand for smart homes in this region.

The smart home market is currently dominated by Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany).

Other players operating in the smart home market 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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