Cleaning Robot Market worth 4.34 Billion USD by 2023

 

According to the new research report "Cleaning Robot Market by Type, Product (Floor-cleaning robot, Lawn-cleaning robot, Pool-cleaning robot, Window-cleaning robot), Application (Residential, Commercial, Industrial, Healthcare), and Geography - Global Forecast to 2023", the cleaning robot market is expected to grow from USD 2.09 Billion in 2018 to USD 4.34 Billion by 2023, at a CAGR of 16.21% between 2018 and 2023. The growth of this market is mainly driven by factors such as penetration of automation in household appliances, rise in labor cost, and increasing safety concern.

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The key players in the market include iRobot (US), Neato Robotics (US), LG Electronics (South Korea), Samsung Electronics (South Korea), Ecovacs Robotics (China), Dyson (UK), Intellibot Robotics (US), Alfred Kärcher (Germany), ILIFE (China), bObsweep (Canada), Bissell Homecare (US), Miele (Germany), Cyberdyne (Japan), Vorwerk (Germany), and Monoprice (US). The key players in this market are increasingly undertaking the strategies of partnerships and collaborations, and product developments and launches to develop and introduce new technologies and products to the market.                                      

Browse 110 market data Tables and 44 Figures spread through 129 Pages and in-depth TOC on "Cleaning Robot Market - Global Forecast to 2023"

Floor-cleaning robot expected to hold the largest share of the cleaning robot market by 2023

Floor-cleaning robot is expected to hold the largest share, on the basis of product, of the cleaning robot market by 2023; the growth of the market for this technology attributed the popularity of floor-cleaning robots in the residential sector, which has helped the floor-cleaning robot market to grow at a rapid pace. These robots are equipped with functions such as navigation control systems and sensors (distance counter, gyro, ultrasonic, laser, and bumper switches), which are specifically used to detect obstacles and prevent collisions.

Cleaning robot market for residential application expected to grow at the highest CAGR between 2018 and 2023

The cleaning robot market for the residential application is expected to grow at the highest CAGR between 2018 and 2023. Cleaning robots in the residential application are utilized to perform tasks such as mopping and cleaning. In certain countries, employing domestic workers becomes too expensive; in such cases, cleaning robots can easily undertake the task of cleaning.

APAC expected to dominate the cleaning robot market during the forecast period

The cleaning robot market in APAC is expected to grow at the highest CAGR during the forecast period. Rise in disposable income among consumers in APAC has led to the adoption of cleaning robots. The increasing adoption of cleaning robots and the influx of global players, along with the emergence of native players, are helping the market to grow. As a result, APAC holds a significant share of the overall cleaning robot market.

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Speech and Voice Recognition Market worth $24.9 billion by 2025

 

According to the new market research report "Speech and Voice Recognition Market by Technology (Speech and Voice Recognition), Vertical (Automotive, Consumer, Government, Enterprise, Healthcare, BFSI), Deployment (On Cloud & On-Premises/Embedded), and Geography - Global Forecast to 2025", the market is expected to grow from USD 7.5 billion in 2018 to USD 24.9 billion by 2025, at a CAGR of 18.72%. The growth of the speech and voice recognition market can be attributed to the high growth potential in healthcare application, growing demand for voice authentication in mobile banking application, rapid proliferation of multifunctional devices or smart speakers, and growing impact of AI on the accuracy of speech and voice recognition. Moreover, the development of speech and voice recognition software for micro-linguistics and local languages, use of speech and voice recognition technology in the education of temporarily and permanently disabled students, and role of speech and voice recognition technology in autonomous cars are expected to create huge growth opportunities for the players in the speech and voice recognition market.

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Major players in the speech and voice recognition market covered in this report are Nuance (US), Microsoft (US), Alphabet (US), IBM (US), Amazon (US), Sensory (US), Cantab Research (UK), iflytek (China), Baidu (China), and Raytheon BBN Technologies (US).

Browse 74 market data Tables and 47 Figures spread through 163 Pages and in-depth TOC on "Speech and Voice Recognition Market - Global Forecast to 2024"

Speech and voice recognition market for consumer vertical to grow at highest rate during forecast period

Increasing demand for intelligent virtual assistant (IVA) smart speakers with voice capabilities is expected to be the prominent driver for the speech and voice recognition market regarding consumer vertical during the forecast period. IVA smart speakers such as Amazon Eco, Google Home, and Apple HomePod have witnessed triple digit growth in North America and Europe during the last 2 years. Moreover, the speech and voice recognition is expected to witness significant growth in personal robotics market such as robotics pets, cleaning robots, and robot companion.

Automatic speech recognition segment dominated the global speech recognition market throughout the forecast period

Speech recognition is increasingly gaining traction with a number of interactive speech applications available in the market. With growing need for embedded computing and demand for emerging embedded platforms, speech recognition systems (SRS) are also required on these. Moreover, growing demand for speech-enabled consumer electronics devices such as smart home devices, mobile devices, and wearable devices is expected to spur the rapid growth of the speech recognition market during the forecast period.

Americas to hold largest size of speech and voice recognition market by 2025

America has been extremely responsive to the latest technological advancements, such as the integration of artificial intelligence (AI) and the Internet of things (IoT). The speech and voice recognition market is dominated by the Americas owing to the high adoption rate of artificial intelligence software and large-scale deployment of neural networks across various end-use verticals. The major driving factor in the Americas is the presence of major vendors of speech and voice recognition technology such as Nuance Communication (US), Microsoft (US), Amazon (US), IBM (US), and Sensory (US).

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Submarine Cable System Market worth $22.0 billion by 2025

 The report "Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025", is expected to grow from USD 13.0 billion in 2020 to USD 22.0 billion by 2025 at a CAGR of 11.1%. The growth of the submarine cable system industry can be attributed to the growing number of internet connections worldwide, a surge in bandwidth globally, an increasing number of new offshore wind capacity additions, and growing demand for inter-country & island connections.  Moreover, an increase in the investments for the deployment of high-capacity communication systems by over-the-top (OTT) players and increasing demand for high-voltage direct current (HVDC) submarine power cable are expected to create considerable growth opportunities for the development of the global submarine cable system sector.

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Major players in the submarine power cable market include Prysmian (Italy), Nexans (France), and NKT (Denmark), and key players in the submarine communication cable market are Alcatel-Lucent (France), SubCom (Switzerland), and NEC Corporation (Japan), among others.

Browse 62 market data Tables and 28 Figures spread through 150 Pages and in-depth TOC on "Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025"

The wet plant products segment held a larger share of the submarine communication cable market during the forecast period.

The growth of the wet plant products segment can be attributed to an increase in the demand for cables, repeaters, and branching units for laying them on the ocean beds, unlike dry plant products such as SLTE, which can be upgraded according to the bandwidth requirements.

Offshore wind power generation to hold the largest size of the submarine power cable market during the forecast period

According to the Global Wind Energy Council (GWEC), the UK is the world’s largest offshore wind market and accounted for a share of ~34% of the global installed wind energy capacity in 2019. It was followed by Germany, which accounted for a share of ~28% of the total installed capacity in the same year. China accounted for a share of ~20% of the global offshore installed capacity of wind energy in 2019. Moreover, countries such as the UK, Germany, China, Japan, and Taiwan plan to invest significantly to expand and develop their regional offshore wind energy industry. These factors are expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.

The single-core segment is projected to lead the submarine power cable market from 2020 to 2025

The growth of this segment can be attributed to the increased use of single-core cables as they are easy to deploy and are suitable for covering longer lengths than multicore cables. Moreover, upcoming extra-high voltage projects in APAC, Europe, and North America are expected to drive the growth of the single-core segment of the submarine power cable market during the forecast period.

Trans-Pacific submarine communication cable market to grow rapidly in the coming years

Submarine communication cable systems deployed in the Trans-Pacific region aim at not only enhancing the submarine system capacity along their respective routes but also focus on edging out the competition in terms of communication latency. These new systems provide increased route diversity— especially along the southern part of the region. According to the Information Technology and Innovation Foundation (ITIF) 2019 report, ~30% of the expected deployments of submarine communication cables in the Trans-Pacific region aim at increasing capacity and reducing latency among Asia, Australia, and the US from 2019 to 2021.

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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.

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Industrial PC Market expected to reach $5.7 billion by 2025

 

According to the new market research report "Industrial PC Market by Type (Panel, Rack Mount, Box, Embedded, and DIN Rail), Data Storage (HDD, SSD), Sales Channel (Direct, Indirect), Maximum RAM Capacity, Industry (Process, Discrete), and Region - Global Forecast to 2025", is estimated to reach USD 5.7 billion by 2025 from USD 4.4 billion in 2020, growing at a CAGR of 5.4%. The market growth is fueled by increasing demand for industrial IoT, a steady shift towards digitalized manufacturing from traditional methods, growing awareness for resource optimization in manufacturing industries, and stringent regulatory compliances.  

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Browse 65 market data Tables and 52 Figures spread through 149 Pages and in-depth TOC on "Industrial PC Market - Global Forecast to 2025"

“Panel IPC to hold the largest size of the industrial PC market from 2020 to 2025.”

Panel industrial PCs are the most commonly used industrial PCs in the process and discrete industries for data acquisition and process control operations. These PCs are designed to operate in rugged industrial environments to meet the requirements of visualization applications in the manufacturing industries. The distinctive features of panel industrial PCs include compact chassis, high performance, enhanced flexibility, improved safety control, and user-friendly touchscreens.

“SSD market to grow at higher CAGR during the forecast period”

The solid-state drive (SDD) data storage medium is made from silicon microchips used in industrial PCs. One of the most significant attributes of SSD is that it is devoid of mechanical parts, which allows swift and smooth data transfer to and from the storage medium. Due to this, the data transfer occurs at a considerably higher speed, thereby enhancing the expectable lifespan of this storage medium. This data storage medium offers several advantages over conventional rotating data storage medium.

The distinguishing features of SSD include its quick operation, lighter weight, high reliability, and enhanced energy efficiency. These characteristics are expected to propel the demand for industrial PCs incorporated with SSD across a wide range of industries. Also, the declining ASP of SSD devices is boosting their adoption in an extensive range of industrial practices.

“Direct sales market for industrial PC to grow at higher CAGR during the forecast period”

The direct sales channel offer various advantages to the industrial PC manufacturers; they cater to the customization requirements of the end-user industries and eliminate resellers’ markup and the costs and risks associated with carrying large finished goods inventories. Due to these factors, the market for direct sales channels is expected to grow at the highest rate during the forecast period.

 “Industrial PC market for discrete industries to grow at higher CAGR from 2020 to 2025”

The discrete industries are often characterized by the production of individual or separate units; wherein units can be produced in low volume with high complexity or high volumes with low complexity. The increasing demand for improved process flexibility and enhanced efficiency, comprehensive integration of quality and regulatory requirements, harmonized production processes for optimum supply chain management, and the constant pressure of reducing maintenance and operation costs in the discrete industries are expected to propel the adoption of industrial PCs in these industries in the near future. In addition, the advent of novel technologies and materials, an increasing number of market players venturing in the markets, and rising necessity of sustained plant productivity and efficiency, among others, are expected to fuel the growth of the industrial PC market for the discrete industries.

“APAC to be the fastest-growing market for industrial PCs during forecast period”

The industrial PC market in APAC is expected to grow at the highest CAGR during 2020—2025. Rapid industrialization, increasing infrastructural investments in the energy & power sector, and favorable government policies encouraging foreign players to enter the industrial PC market in APAC are expected to augment the growth of the market during the forecast period. The high-tech medical devices manufacturing companies are actively focusing on geographical expansions due to the growing demand for healthcare services, increasing concern pertaining to health, and rising investments in R&D. This is likely to fuel the growth of the industrial PC market in APAC during the forecast period.

Major players involved in the global industrial PC market include Advantech (Taiwan), Beckhoff International (Germany), Siemens (Germany), IEI Integration Corporation (Taiwan), Kontron S&T (Germany), Nexcom International (Taiwan), ABB (Switzerland), Avalue Technology (Taiwan), DFI (Taiwan), and American Portwell Technology (US).

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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.

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Light Control Switches Market expected to reach $10.1 billion by 2025

 

According to the new market research report, "Light Control Switches Market by Product Type (Switches, Dimmers), Communication Technology (Wired, Wireless), End-use Application, Switch Solutions (Standalone, Integrated), Light Source, Geography - Global Forecast to 2025", The light control switches market is estimated to grow from USD 6.6 billion in 2020 and projected to reach USD 10.1 billion by 2025, at a CAGR of 8.9%. The major factors driving the growth of the light control switches market include the advent of integrated lighting control systems, ongoing and upcoming smart city projects in developing economies, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments worldwide.

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“DALI protocol to hold the largest size of light control switches market for wired communication technology during the forecast period.”

In 2019, the DALI protocol held the largest share of wired communication technology. As of now, DALI is the predominant communication technology used owing to its ease of installation, open protocol, and requirement of less branch wiring than traditional controls. However, technology is not seen as a dominant protocol in the future due to the escalated demand for wireless technologies.

“Light control switches market for electronic switches is expected to exhibit high growth during the forecast period.”

Electronic switches include wireless switches, sensor-based switches, and others. The adoption of electronic switches is increasing owing to their ability to control lights effectively and ensure higher energy savings, leading to very high growth during the forecast period.

“APAC to hold the largest share of light control switches market during the forecast period.”

APAC accounted for a significant share of the light control switches market in 2019. APAC is expected to be the fastest-growing region for the light control switches market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for light control switches in the Asian countries.

Some of the major players in the light control switches market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).

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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.

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.

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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).

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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.

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.

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Vibration Sensors Market expected to reach $3.0 billion by 2025

 

According to the new market research report "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025", the vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.

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Accelerometers to hold largest share of vibration sensors market during forecast period

Accelerometers are expected to account for the largest share of the vibration sensors market during the forecast period. The growth of this segment can be attributed to the increased use of accelerometers for collecting vibration monitoring data. Piezoelectric accelerometers are the most commonly used sensors in vibration monitoring applications. They are suitable for a wide band of frequencies, ranging from very low to very high frequencies. These accelerometers are also available in a wide variety of application-specific designs.

Energy and power industry to account for the largest share of vibration sensors market during forecast period

The Energy and power industry is expected to account for the largest share of vibration sensors market during forecast period. The power industry is facing challenges owing to the continuously increasing demand for power and the requirement to reduce distribution losses. This has led power generation companies to offer continuous power supply at low costs and monitor their processes for any unwanted changes. Hence, vibration sensors play a crucial role in the power sector.

Vibration sensors market in APAC to grow at highest CAGR during forecast period

Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure on industries such as oil and gas, energy and power, chemicals, and automotive to achieve operational efficiency are fueling the growth of the vibration sensors market in APAC. The expansion of manufacturing activities as a result of the shifting of production bases to APAC countries, such as China, India, and South Korea, with low labor costs, is driving the demand for vibration sensors in the region. However, the outbreak of the COVID-19 has significantly affected the manufacturing sector of APAC. As neighboring countries in the region are linked to one another through trade relations and supply chain, the entire region is affected by this pandemic.

Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors 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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