Augmented Reality and Virtual Reality Market worth $77.0 billion and $20.9 billion by 2025 Respectively

 

According to the new research report on "Augmented Reality and Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware & Software), Device Type (HMD, HUD, Gesture Tracking), Application (Enterprise, Consumer, Commercial, Healthcare), and Geography - Global Forecast to 2025", The augmented reality (AR) market is projected to grow from USD 15.3 billion in 2020 to USD 77.0 billion by 2025; it is expected to grow at a CAGR of 38.1% from 2020 to 2025. The virtual reality (VR) market is projected to grow from USD 6.1 billion in 2020 to USD 20.9 billion by 2025; it is expected to grow at a CAGR of 27.9% from 2020 to 2025. The increasing demand for AR devices and applications in healthcare, rising investments in AR market, and growing demand for AR in retail and e-commerce sectors due to COVID-19 are the key factors driving the AR market growth. The availability of affordable VR devices, growing adoption of HMDs in different industries, the advancement of technologies and growing digitization, penetration of HMDs in gaming and entertainment sectors after COVID-19, and high investments in VR market are the key factors driving the VR market growth.

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AR HMDs to lead AR device type market during the forecast period owing to its use in enterprise and healthcare

AR HMDs in the form of smart glasses are expected to lead the market owing to their widespread use in the enterprise sector. Efficiency and workforce management are expected to be the major use cases for HMDs in enterprise and manufacturing applications. The major use cases of AR HMDs in healthcare include pre-hospital medical care, nursing care in clinical environments, and medical treatment in hospitals. For out of hospital care and emergency medical services, HMDs can be used to help casualties in mass accidents and disasters.

Market for gesture tracking devices in VR projected to grow at a higher CAGR during the forecast period

Gesture tracking devices have been an integral part of VR hardware, mainly because these are used for consumer applications. Gaming with gesture-tracking devices provides an enhanced experience of the virtual world to the users. The market for gesture-tracking devices is expected to witness the highest growth in the VR market. Gesture-tracking devices can also be helpful for surgeons during a surgery. During surgical intervention, a surgeon needs to control surgical devices such as X-ray, drill, and endoscope; a contact-free, gesture-based controller can be used by the surgeon, which, in turn, would enable a touchless approach.

APAC to lead the AR VR market during the forecast period

APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the implementation of AR technology. APAC is expected to lead the VR market by 2025 due to the high demand for VR devices in the region and the emergence of local manufacturers in China, providing VR devices at a low cost. The strong growth of the healthcare application in China and Japan is projected to boost the healthcare market in the APAC region. The gaming industry in this region has witnessed strong growth and will act as a driver for the growth of the AR market in the region.

Major vendors in the augmented reality and virtual reality market include Google (US), Sony (Japan), Samsung Electronics (South Korea), Microsoft (US), HTC (Taiwan), Oculus (US), PTC (US), Seiko Epson (Japan), Lenovo (China), Wikitude (Austria), Magic Leap (US), Blippar (UK), Upskill (US), MAXST (South Korea), EON Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US). Apart from these, Talespin (US), Scanta (US), Craftars (Romania), Appentus Technologies (India), and BidOn Games Studio (Ukraine) are among a few emerging companies in the augmented reality and virtual reality market.

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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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“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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NDT and Inspection Market expected to reach $11.7 billion by 2025

 

The report "NDT and Inspection Market with COVID-19 Impact by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Region - Global Forecast to 2025", size is estimated to grow from USD 8.4 billion in 2020 to USD 11.7 billion by 2025, growing at a CAGR of 7.0%. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are among a few major factors driving the NDT and inspection markets growth. The high adoption of IoT devices and rising need to assess aging assets health also propel the development of the NDT and inspection market.

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“The ultrasonic testing (UT) technique to hold the largest share of the NDT and inspection market in 2019”

Ultrasonic testing is expected to account for the largest market share in 2019. It is presently the most popular NDT technique owing to its ability to identify defects and determine their severity accurately. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can also be used for critical applications in the oil & gas and aerospace industries. Ultrasonic testing has evolved considerably over the last few decades and is the most important NDT technique for identifying and quantifying surface and subsurface defects. Ultrasonic NDT inspection can be conducted by using a wide range of methods, a few of which are manual and cost-effective, while others need advanced automated equipment for determining faults in critical applications. This technique can also be deployed to inspect objects that are not easily accessible through direct contact, such as inspecting the piping system buried under the earths surface.

The market for the manufacturing vertical expected to grow at the highest CAGR during the forecast period

The manufacturing sector is expected to be the fastest-growing vertical in the NDT and inspection market from 2020 to 2025. This sector is receiving a boost from emerging markets such as China, India, and South Africa due to their growing manufacturing and industrial base. The NDT and inspection technique is widely used in manufacturing to ensure the integrity of components produced. This technique is primarily employed for preventive maintenance and failure analysis and the post-care of the damages.

North America expected to hold the largest market share during the forecast period

North America is expected to hold the largest share of the overall NDT and inspection market by 2025. The rapid growth of automotive, power generation, oil & gas, and aerospace & defense industries in the region are the major reason for the growing adoption of NDT equipment and rising demand for related services in North America.

General Electric (US), Olympus Corporation (Japan), MISTRAS Group (US), Nikon Metrology (Belgium), and Ashtead Technology (Scotland), YXLON International (Germany), Sonatest (UK), Zetec, Inc. (US), T.D. Williamson Inc. (US), Bosello High Technology Srl (Italy), Eddyfi (Canada), and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmBH (Germany), Acuren (US), and LynX Inspection (Canada) 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.

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Smart Home Market worth $135.3 billion by 2025, at a CAGR of 11.6%

 

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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“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.

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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Artificial Intelligence in Healthcare Market worth $45.2 billion by 2026

 

According to the new market research report on the "Artificial Intelligence in Healthcare Market with Covid-19 Impact Analysis by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User and Region - Global Forecast to 2026", The global AI in healthcare market is expected to grow from USD 4.9 billion in 2020 and reach USD 45.2 billion by 2026; it is projected to grow at a CAGR of 44.9% during the forecast period. The major factors driving the growth of the market are the increasing volume of healthcare data and growing complexities of datasets, the intensifying need to reduce towering healthcare costs, improving computing power and declining hardware costs, growing number of cross-industry partnerships and collaborations, and rising imbalance between health workforce and patients driving the need for improvised healthcare services. Another major fueling the market growth currently is the adoption of this technology by multiple pharmaceutical and biotechnology companies across the world to expedite vaccine or drug development processes for COVID-19.

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Software segment in AI healthcare market projected to grow at highest CAGR during forecast period.

Many companies are developing software solutions for various healthcare applications; this is the key factor complementing the growth of the software segment. Growing adoption of AI-driven healthcare informatics solutions and healthcare operational support by hospitals and other healthcare service providers is expected to boost the demand for services in the later part of the forecast period.

Machine learning in AI healthcare market projected to grow at highest CAGR during forecast period.

Growing adoption of deep learning in various healthcare applications, especially in the areas of medical imaging, disease diagnostics, and drug discovery, and the use of different sensors and devices to derive a patient’s health status in real time are supplementing the growth of the market.

Medical imaging & diagnostics segment in AI healthcare market projected to grow at highest CAGR during forecast period.

The high growth of the medical imaging and diagnostics segment can be attributed to factors such as the presence of a large volume of imaging data, advantages offered by AI systems to radiologists in diagnosis and treatment management, and the influx of a large number of startups in this segment.

Patients segment in AI healthcare market projected to grow at highest CAGR during forecast period.

Increasing demand for personalized care, the need to reduce hospital readmissions, and the convenience offered by AI products and solutions are the key factors driving the growth of the patients segment in the AI in healthcare market.

AI in healthcare market in APAC projected to grow at highest CAGR during forecast period.

China is the highest healthcare spender among APAC countries and has charted out official plans to digitize medical records. In addition, the Chinese government is undertaking initiatives to encourage the adoption of AI technologies in healthcare. These will drive the market for AI in healthcare in China. Japan is likely to hold the second-largest market share during the forecast period.

Major players in the AI in healthcare market are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), General Vision, Inc. (US), General Electric (GE) Healthcare (US), Siemens Healthineers (Germany), Medtronic plc (US), Johnson & Johnson Services, Inc. (Johnson & Johnson) (US), and Koninklijke Philips N.V. (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.

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Industrial Control and Factory Automation Market worth $229.3 billion by 2025

 

According to the new market research report,  "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry, and Geography - Global Forecast to 2025", the global industrial control and factory automation market size is projected to reach USD 229.3 billion by 2025 from USD 151.8 billion in 2020, at a CAGR of 8.6%. The growth of this market can be driven by the factors such as increasing use of enabling technologies in manufacturing, rising adoption of industrial robots in the manufacturing sector, connected supply chain along with mass production to meet the demands of rising population, government initiatives toward the adoption of industrial automation in various industries.

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“Sensors to capture largest market share of global industrial control and factory automation market for components”

Sensors are an essential part of industrial control and factory automation solutions. Manufacturers of sensors are continuously focusing on developing advanced solutions to help end users in enhancing their production efficiency. The smart sensor can transform simple motor into intelligent machines, which inform machine operators about the operating conditions of machines and about their servicing requirements to avoid unexpected machine breakdowns, optimizing the performance of machines. Hence, it is expected to capture the largest market share in the component of the industrial control and factory automation market by 2025.

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

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

 “APAC to be largest market for industrial control and factory automation during forecast period.”

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

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

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.

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Real-Time Location Systems Market worth $10.3 billion by 2025, at a CAGR of 24.8%

 

According to the new market research report "Real-Time Location Systems Market (RTLS) with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, Geography- Global Forecast to 2025" , The RTLS market is expected to grow from USD 3.4 billion in 2020 to USD 10.3 billion by 2025; it is expected to grow at a CAGR of 24.8% from 2020 to 2025. The RTLS market has been witnessing significant growth over the past years, mainly owing to the high adoption of RTLS solutions in the healthcare, manufacturing & automotive, retail, and transportation & logistics verticals, and growing adoption in emerging use cases. However, the COVID-19 outbreak is likely to result in a decline in the growth rate of the RTLS market, especially in 2020 and 2021. This is because organizations in most of the major demand-generating verticals are currently or were non-operational in various countries, thereby negatively impacting the demand for RTLS solutions. Additionally, COVID-19 has also disrupted the supply chain of the RTLS market, which is hindering the manufacturing, distribution, and installation of RTLS solutions.

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Browse 181 market data Tables and 76 Figures spread through 279 Pages and in-depth TOC on "Real-Time Location Systems Market (RTLS) with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, Geography- Global Forecast to 2025"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/real-time-location-systems-market-1322.html

Wi-Fi segment to hold the largest share of the RTLS market, by technology, in 2020

Wi-Fi segment will lead the RTLS market, by technology, in terms of size, in 2020. A number of RTLS vendors have been using the existing Wi-Fi infrastructure to lay out RTLS solutions for the purpose of data sharing. This has resulted in the greater use of Wi-Fi technology for RTLS applications, especially in newer verticals and emerging markets.

The market for supply chain management & operational automation/visibility segment to grow at the highest CAGR during the forecast period

The supply chain management & operational automation/visibility application segment is expected to witness highest growth in the RTLS market during the forecast period. In this segment, RTLS solutions are gaining popularity for locating inventory in warehouses as well as throughout supply chains. RTLS technologies allow better visualization of supply chain dynamics in real time. As companies move toward Industry 4.0, there arises the demand for greater visibility to facilitate faster decision-making. Real-time data of supply chain operations allows quicker response times for any alterations in normal operations.

North America to hold the largest share of RTLS market by 2020

North America is expected to hold the largest share of the RTLS market by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. Europe is expected to account for the second-largest share of the RTLS market during the forecast period. The UK and Germany are significant demand-generating countries for RTLS solutions in this region.

A few key players operating in the RTLS market are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), Savi Technology (US), TeleTracking Technologies (US), AiRISTA (US), Ubisense Group (UK), Decawave (Ireland), and Litum Technologies (Turkey).

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