Monday 8 March 2021

IoT Sensors Market expected to reach $29.6 billion by 2026

 

The report "IoT Sensors Market with COVID-19 impact by Sensor type, Network Technology, Vertical, Application, and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2026", is expected to grow from USD 8.4 billion in 2021 to USD 29.6 billion by 2026; it is expected to grow at a CAGR of 28.6% during 2021–2026. Increasing use of sensors in IoT applications due to cost and size reduction, and technological advancement, and Introduction of 3GPP Release 13 and Release 14 specifications are the key factors driving the growth of the IoT sensors market. The Growth of Internet penetration rate and High demand for connected and wearables devices are factors propelling the growth of the IoT sensors market.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26520972

Browse 147 market data Tables and 72 Figures spread through 300 Pages and in-depth TOC on "IoT Sensors Market with COVID-19 impact by Sensor type, Network Technology, Vertical, Application, and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2026"

“Pressure sensor to hold the largest share of the IoT sensors market in 2020”

The market for pressure sensors is largely driven by increased concerns regarding safety, comfort levels, and reduction in automobile emissions. The regulatory mandates requiring the compulsory installation of onboard diagnostics to reduce greenhouse gas emissions will further lead to growth in demand for pressure sensors.

“The market for the Industrial IoT vertical to hold the largest share of the IoT sensors market in 2020”

The key factor fueling the growth of the industrial IoT segment of the IoT sensors market is the requirement to implement predictive maintenance techniques in different industries to monitor the working of industrial equipment to avoid unscheduled downtimes in production cycles. The intelligent wireless sensors constantly monitor parameters of critical processes in industrial environments, thereby leading to the increased operational efficiencies of industries.

APAC is expected to hold the largest market share during the forecast period

Countries such as India, China, Japan, South Korea, and Australia are key contributors to the growth and the development of the IoT sensors market in APAC. The growing penetration of the Internet across commercial and residential spaces, along with broadening consumer base, increasing disposable income of the masses, and improving IT infrastructures are some key determinants supplementing the growth of the IoT sensors market in APAC.

Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec (Germany), TDK (Japan), Infineon Technologies (Germany), Analog Devices (US), Omron (Japan) are the key players in the 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:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Tuesday 2 March 2021

Photolithography Equipment Market expected to reach $18.0 billion by 2025

 

According to a research report "Photolithography Equipment Market with COVID-19 impact by Type (EUV, DUV), Light Source (Mercury Lamps, Excimer Lasers, Fluorine Lasers, Laser-Produced Plasma), Wavelength, End User and Geography - Global Forecast to 2025", published by MarketsandMarkets, the photolithography equipment market was valued at USD 11.6 billion in 2020 and is projected to reach USD 18.0 billion by 2025; it is expected to grow at a CAGR of 9.1% from 2020 to 2025.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=145860852

Browse 100 market data Tables and 49 Figures spread through 164 Pages and in-depth TOC on
"Photolithography Equipment Market with COVID-19 impact By Type (EUV, DUV), Light Source (Mercury Lamps, Excimer Lasers, Fluorine Lasers, Laser-Produced Plasma), Wavelength, End User and Geography - Global Forecast to 2025"

The key factors driving the growth of the photolithography equipment market include the advent of advanced semiconductor manufacturing technologies and the increased government support for carrying out these advancements. The key players in the market are focusing on research and development activities. They are launching new technologies to improve the photolithography process used for the manufacturing of semiconductor devices.

EUV is expected to boost the photolithography market between 2020 and 2025

The adoption of EUV photolithography equipment reduces the requirement of re-engineering each new process, thereby enabling 7 nm and 5 nm processes (and their successors) to share design rules. This approach is expected to significantly reduce the transition time of new geometries, thereby resulting in new options and opportunities for customers in the marketplace.

270 nm – 170 nm holds the largest market share photolithographic wavelength in 2019

The 270 nm–170 nm wavelength is largely used in different types of DUV equipment, namely, KrF, ArF, and ArFi. Among DUV equipment, the ArFi segment is expected to account for the largest share of the photolithography equipment market for 270 nm– 170 nm wavelength from 2020 to 2025. The increased demand for high-performance, low-cost semiconductor devices is leading to the shrinking of the feature geometry on silicon wafers.

Laser-produced plasma expected to lead the photolithography equipment market by 2025

Laser-produced plasmas are preferred in newly introduced EUV photolithography equipment. They offer highly improved wavelengths of up to 1 nm. These plasmas act as cold UV sources and offer monochromic light with a bandwidth of 10 nm. The LED used in EUV photolithography equipment is of low cost, requires less power, and has a longer lifespan than other light sources.

Foundries held the largest market share of photolithography equipment market in 2020

Growing investments in wireless technologies such as 5G have opened new opportunities for smartphone OEMs to tap the potential of low-latency augmented reality (AR), virtual reality (VR), and live video streaming applications. This is leading to the development of high-performance and multifunctional ICs. As transistor density increases in ICs, the demand for photolithography equipment for manufacturing these high-density ICs is also growing.

APAC to hold the largest market share of photolithography equipment market in 2020

The photolithography equipment market in APAC is projected to grow at the highest CAGR from 2020 to 2025. In this region, countries such as China, Taiwan, Japan, and South Korea have a number of semiconductor foundries. China, Taiwan, and South Korea are projected to be the leading countries in terms of semiconductor spending in 2021. Increasing investments for the development of foundries and memories in China are expected to establish the country as a leading photolithography equipment market in the world during the forecast period.

The photolithography equipment market is a concentrated one, with the top 3 players ASML (Netherlands), Canon (Japan), and Nikon (Japan)—accounting for a share of ~98% of the market in 2019. ASML (Netherlands) is projected to have a monopoly in the market in terms of the supply of EUV photolithography equipment during the forecast year. Advanced processes, such as 4 nm/3 nm, are expected to be introduced in the market in 2021 and 2022, thereby fueling the demand for EUV photolithography equipment offered by ASML (Netherlands).

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
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Haptic Technology Market expected to reach $4.6 billion by 2026

 According to a research report "Haptic Technology Market with COVID-19 Impact by Component (Hardware, Software), Feedback Type (Tactile, Force), Application (Consumer Devices, Automotive & Transportation, Healthcare, Commercial & Industrial, Others) and Region - Global Forecast to 2026", published by MarketsandMarkets, the global haptic technology market size is expected to grow from USD 2.6 billion in 2021 to USD 4.6 billion by 2026, at a CAGR of 12.0%. Increasing integration of haptics into consumer devices is expected to fuel the demand for haptic technology. The growing demand for haptic technology for automobile safety applications is expected to play a vital role in the growth of the haptic technology market.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=443

Browse 144 market data Tables and 45 Figures spread through 194 Pages and in-depth TOC on "Haptic Technology Market with COVID-19 Impact - Global Forecast to 2026"

The market is expected to decline in 2020, mainly due to the impact of COVID-19. The consumer electronics and automotive supply chains was disrupted in March and April 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the haptic technology market. Though the market is expected to be impacted in 2020, it is expected to fully recover by 2021.

Haptics hardware component expected to hold the largest market share during the forecast period

Haptics hardware component is estimated to have the largest market share by value and are expected to exhibit a similar growth trend during the forecast period. Increased adoption of haptic technology in various devices has been observed owing to factors such as increased accuracy, increased input command speed, and improved user satisfaction. Technological advancements in devices is one of the driving factors for market growth. For instance, manufactures of mobile devices, vehicles, and IoT appliances are inclined toward the adoption of touch surfaces with haptic feedback instead of physical buttons. Haptic enables devices to become more compact, sleek, easy to update, durable, which is being preferred by end users. This is expected to drive the market for haptics hardware segment.

Consumer devices application is estimated to be the largest market

The haptic technology market for the consumer devices application is expected to hold the largest market share during the forecast period. The increasing demand for consumer devices such as smartphones, tablets, and other wearable devices is one of the major driving factors for the haptic technology market. Almost all smartphones and tablets are inbuilt with haptics, and the trend has been shifting to smartwatches and wristbands. Also, haptic technology is in high demand for gaming consoles such as Xbox, PlayStation, and others. The presence of haptics enables the user to feel a sense of touch and have a real-time experience. The role of haptics becomes even more critical as they replace the mechanical buttons to restore the sense of touch. Thus, the increasing adoption of haptics in the latest gaming consoles is expected to drive the growth of the consumer devices application segment.

Asia Pacific likely to emerge as the largest haptic technology market

The market in APAC is expected to hold the largest market share during 2021–2026. The global market players are experiencing increased demand for haptic solutions from countries such as China, Japan, and South Korea. Increasing demand for consumer electronic devices such as smartphones, tablets, and wearables in China, Japan, South Korea, and India is expected to drive the growth of the haptic technology market in the region. Also, APAC is home to several major players in the haptic technology market such as Johnson Electric (Hong Kong), TDK (Japan), AAC Technologies (China), and SMK Corporation (Japan), which further aids the growth of the market in the region.

Major players in the haptic technology market include Texas Instruments (US), Johnson Electric (Hong Kong), AAC Technologies (China), TDK (Japan), Microchip Technology (US), Immersion (US), ON Semiconductor (US), Precision Microdrives (UK), Ultraleap (UK), and Synaptics (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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Thursday 25 February 2021

Optoelectronic Components Market worth $52.7 billion by 2025

 

According to the new research report "Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025", the global optoelectronic components market size is projected to grow from USD 41.4 billion in 2020 to USD 52.7 billion by 2025, recording a CAGR of 5.0%. Emerging opportunities for optoelectronic components and R&D could lead to innovation in the optoelectronic components industry. Promising industrial IoT applications provide major growth opportunities to market players. The optoelectronic components industry growth is mainly driven by the increased use of infrared components in consumer electronics & automobiles, long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical and suitable physical properties of optoelectronic sensors to operate in harsh environments.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=450

Browse 110 market data Tables and 74 Figures spread through 239 Pages and in-depth TOC on
"Optoelectronic Components Market - Global Forecast to 2025"

Sensor component to witness the highest CAGR during the forecast period

The sensor component is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to the usage of several types of sensors, including optical, image, phototransistors, photodiodes, and photo relays for varied applications across several industries. The sensor component segment has been further subsegmented into phototransistors, photodiodes, photo relays, image sensors, optical sensors, and ultraviolet sensors.

Measurement application to hold the largest share in the optoelectronic components industry during the forecast period

The application segment comprises measurement, lighting, communications, security & surveillance, and others (geographical survey, scanning, and spectrometry). The measurement segment in the optoelectronic components market is projected to hold the largest share during the forecast period. Measurement systems use optoelectronic sensors to convert light signals to electric current and are used for several applications such as machine vision, monitoring of process and operations, control of process & operation, and experimental engineering analysis, among others.

Silicon carbide material to witness the highest CAGR during the forecast period

Silicon carbide material is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to its inherent radiation resistance, high temperature operating capacity, and high voltage & power handling capacity. Moreover, the flexibility of silicon carbide can be used as substrate. Therefore, silicon carbide has gained traction in several applications across verticals such as telecommunication, automotive, medical, military, industrial, and more.

Consumer electronics vertical to hold the largest share in the optoelectronic components industry during the forecast period

The vertical segment comprises automotive, consumer electronics, telecommunication, military & aerospace, medical, residential, commercial, manufacturing, and others (utility, food & beverages, and pulp & paper). The consumer electronics segment is projected to hold the largest share during the forecast period.  The adoption of optoelectronic components in the consumer electronics sector has increased due to technological advancements and the increasing use of consumer goods such as high-end sophisticated cameras, photocopy machines, smartphones, blue-ray storage devices, and flat & flexible television displays, and more.

Presence of prominent system suppliers to drive the demand for pressure sensors in North America during the forecast period

The optoelectronic components market in North America is projected to grow at the highest CAGR during the forecast period. The US, Canada, and Mexico are the major contributors to the growth of the market in North America.

North America is one of the most technologically advanced markets for optoelectronic components owing to the presence of prominent system suppliers, large semiconductor companies, LED, laser, and sensor manufacturers in the region.

Key players operating in the optoelectronic components market include Hamamatsu (Japan), Osram (Germany), TT Electronics (UK), Vishay (US), ON Semiconductor (US), Cree (US), Trumpf (Germany), SICK AG (Germany), Samsung (South Korea), Sony (Japan), and Broadcom (US). Other major companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

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. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Interactive Kiosk Market expected to reach $32.8 billion by 2025

The report "Interactive Kiosk Market by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks, and Vending Kiosks), Location (Indoor and Outdoor), Panel Size (17”-32” and Above 32”), Vertical, and Region - Global Forecast to 2025", is expected to grow from USD 26.2 billion in 2020 to USD 32.8 billion by 2025, at a CAGR of 4.6%. The growth of this market is driven by factors such as enhanced shopping experience for customers, lower investment costs than traditional outlets, enhanced applications other than conventional ones, and innovations in touch screen display and glass technology.• Informational PDF Brochure :-


Browse 103 market data Tables and 51 Figures spread through 150 Pages and in-depth TOC on
"Interactive Kiosk Market - Global Forecast to 2025"

Interactive kiosk market for bank kiosks expected to grow at the highest CAGR during the forecast period

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks.

Panel size above 32” is expected to grow at higher CAGR from 2020 to 2025

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2020 to 2025. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

APAC expected to grow at highest CAGR during forecast period

The interactive kiosk market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the advancements in technology and emergence of new business models. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the kiosks in the APAC region. The growing popularity of kiosk products, large potential customer base, and technological advancements taking place in countries such as India and China are the factors contributing to the growth of the interactive kiosk market in APAC.

Some of the major players operating in the interactive kiosk market are KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (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.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Tuesday 23 February 2021

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.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=22726569

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.

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. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

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.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202401714

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).

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. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com