Automotive segment boosts APAC Battery-free Sensors Market

 

According to the new market research report "Battery-free Sensors Market with COVID-19 Impact Analysis, by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors), Frequency, Industry (Automotive, Logistics, Healthcare, Food & Beverages), and Region - Global Forecast to 2026", The global battery-free sensors market size is projected to grow from USD 32 million in 2021 to USD 109 million by 2026; it is expected to grow at a CAGR of 27.6% from 2021 to 2026. With rapid technological advancements, battery-free sensors are increasingly adopted in IoT applications to improve production efficiency and reduce operational and maintenance costs in the wake of COVID-19. Additionally, the ongoing miniaturization of medical and electronic devices and the growing implementation of automated condition monitoring solutions in smart factories are expected to boost the growth of the battery-free sensors market during the forecast period.

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Temperature sensors accounted for the larger size of the battery-free sensors market in 2020.

Temperature sensors segment held the largest size of the market in 2020. Battery-free sensors are at the initial phase of commercialization. At present, only a few companies are providing battery-free sensors. Among other sensors, temperature sensors are the most common sensors offered by these manufacturers. Temperature sensors account for the largest share due to the high deployment of these sensors by the manufacturing and process industries, such as oil & gas, food & beverages, and automotive industries, in hard-to-reach or remote machinery to monitor the machine condition. The data gathered by these temperature sensors enable effective predictive maintenance programs in industrial plants to avoid costly downtime. These sensors are also maintenance-free, making them preferable for various industrial operations. Also, the average selling price of the battery-free temperature sensor is higher than other types of sensors covered in this report

Automotive segment is expected to hold the largest size of the battery-free sensors market in 2020.

Automotive segment is expected to hold the largest share in the battery-free sensors market during the forecast period. Automobile companies across the world are emphasizing on automating and upgrading their assembly lines. Automobile manufacturers adopt battery-free sensors at a significant rate owing to their advantages, such as prediction and prevention of equipment failure by improvising the performance and efficiency of assets and equipment at reduced maintenance costs. Battery-free sensors enable predictive maintenance and help efficient handling of assembly operations in the automotive industry. Hence, the automotive industry is expected to capture the largest market share throughout the forecast period. Automobile original equipment manufacturers (OEM) and players within the mobility industry are among the worst hit by the COVID-19pandemic. Automobile OEMs increasingly rely on just-in-time manufacturing, which is presently affecting their production capabilities and overall exports owing to supply chain disruptions.

APAC is projected to be the largest market for battery-free sensors from 2021 to 2026.

Battery-free sensors market in APAC is expected to grow at the highest CAGR during 2021−2026. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the battery-free sensors market in this region. The expansion of manufacturing activities resulting from the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, drives the demand for battery-free sensors in the region. However, the outbreak of COVID-19 has impacted the manufacturing facilities of all verticals across the world, forcing them to shut down. However, production has resumed in a few facilities in China, thereby initiating the manufacturing of some essentials.

ON Semiconductor (UK), Farsens (Spain), Axzon (Rfmicron) (US), Inductosense (UK), Phase IV Engineering (US), Powercast (US), Distech Controls (US), EnOcean (Germany), DCO Systems (UK), and Everactive (US), are some of the major players in battery-free sensors market.

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IO-Link Market expected to reach $24.2 billion by 2026

 

The report "IO-Link Market with COVID-19 Impact Analysis by Type (IO-Link Wired, IO-Link Wireless), Component (IO-Link Master, IO-Link Devices), Industry (Process, Discrete, Hybrid), Application, and Geography(North America, Europe, APAC) - Global Forecast to 2026" The IO-Link market size is projected to reach USD 24.2 billion by 2026 from an estimated USD 7.7 billion in 2021, at a CAGR of 25.6% from 2021 to 2026.The rising demand for Industry 4.0 and ability to support all fieldbus protocols are among the factors driving the growth of the IO-Link market.

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By type, the IO-Link wired segment held the major share of the IO-Link market in 2020.

The growth of this segment is due to the increasing demand for cost-saving installation of two-way communication between field devices such as sensors, actuators, controllers, and other automation systems on a factory floor. IO-Link wired simplifies wiring, which makes its installation cost lower than a conventional solution. This is due to the use of field modules and connections with cables that do not require shielding. Industry players use IO-Link wired platform to install serial communication protocol with sensors and actuators. It enables bidirectional data exchange from field devices and makes data accessible for analysis to a programmable logic controller (PLC) and human–machine interfaces (HMI). This helps improve work efficiency and working conditions in manufacturing companies.

By industry, discrete industries accounted for the largest share of the IO-Link market in 2020, and a similar trend is likely to continue in the near future

Discrete industries such as automotive, aerospace & defense, semiconductor & electronics, machine manufacturing, packaging, and medical devices follow stringent protocols for their manufacturing operations and continuously focus on reducing operational costs. This leads them to adopt industrial automation and IoT technologies for their business operations. Also, these industries majorly focus on improving the operational efficiency of machines to meet the increasing customer demands. IO-Link can help reduce manufacturing costs, speed up commissioning times, reduce the number of network nodes, and lower the downtime of machines or systems. This factor is expected to increase the adoption of IO-Link in discrete industries.

By region, Europe IO-Link market to hold the largest share of the IO-Link market throughout the forecast period

Europe is anticipated to holds the largest share of the IO-Link market throughout the forecast period. This dominance is attributed to the presence of automotive, aerospace & defense, and industrial manufacturing verticals in the region. Europe comprises major growing economies, such as the UK, Germany, and France, which offer significant growth opportunities for the market. The rising demand for IoT-connected devices and industrial automation in manufacturing industries is driving the growth of the European IO-Link market. Moreover, governments of European countries are taking initiatives to establish smart factories and digitize European industries, thus driving the demand for IO-Link solutions. IO-Link solutions enable industrial manufacturers to establish standardized communication between sensors and actuators, increase data availability, conduct remote configuration and monitoring, and enhance diagnostics. IO-Link provides a platform to help sensors and actuators become smarter than other field devices. These factors are expected to boost the growth of the IO-Link market in Europe.

Siemens (Germany), Hans Turck GmbH & Co. KG (Germany), Balluff GmbH (Germany),ifm electronic GmbH (Germany), SICK AG (Germany), Rockwell Automation, Inc. (US), Omron Corporation (Japan), Pepperl+Fuchs (Germany), Festo SE & Co. KG (Germany), and SMC Corporation (Japan), are some of the key players in the IO-Link market.

The scope of the report covers detailed information regarding major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the IO-Link market. A detailed analysis of the key industry players has been carried out to provide insights into their business overviews, product offerings, and key strategies, such as product launches, collaborations, joint ventures, acquisitions, expansions, and partnerships, associated with the IO-Link market.

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Authentication and Brand Protection Market worth $3.7 billion by 2026

 

According to a research report "Authentication and Brand Protection Market with COVID-19 impact –Technology (Overt, Covert, Forensic, Digital), Offering (Security Labels, Security Inks, Holograms), Authentication Mode, Application, and Region - Global Forecast to 2026" published by MarketsandMarkets, the authentication and brand protection market is projected to grow from USD 2.5 billion in 2021 to USD 3.7 billion by 2026; it is expected to grow at a CAGR of 8.3%from 2021 to 2026.

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The key factors fueling the growth of the market include increasing focus on safeguarding product and brand integrity, and stringent anti-counterfeiting laws and regulations enforced by governments. Additionally, increasing demand from emerging economies in APAC is expected to create an opportunity for authentication and brand protection market.

The overt segment is projected to account for the largest share of the authentication and brand protection market during the forecast period.

The overt brand protection solutions can be used for both investigative and consumer validation of product authenticity. Some of the overt authentication offerings are holograms, complex security printing, and embossed optical films. Additionally, overt technology-based authentication and brand protection solutions have decorative appeal and are relatively cheap.

The market for RFID authentication and brand protection is expected to grow at the highest CAGR during the forecast period

RFID tags are becoming popular tools for the identification of products. By using RFID, products can be traced in seconds using electromagnetic fields to automatically identify and track tags attached to objects. Thus, RFID helps to improve and track the supply chain process, from production through distribution and retailing.

The pharmaceutical application in authentication and bradnd protection is expected to grow at the highest CAGR during the forecast period.

The COVID-19 pandemic has boosted the growth of the pharmaceuticals industry worldwide. Additionally, the growth of the segment can be attributed to government regulations in various countries mandating the use of anti-counterfeit technologies in pharmaceutical products.

APAC held the largest share of the global authentication and brand protection market during forecast period.

Economic growth and expansion of the manufacturing industry in the region have significantly impacted the demand for authentication and brand protection. Additionally, the adoption of authentication and brand protection solutions across industries such as pharmaceuticals, automotive, food & beverages, electronics, and luxury goods is expected to increase in APAC during the forecast period. Growing awareness about authentication and brand protection technologies among companies is generating demand for such solutions. The pharmaceuticals industry is expected to witness the fastest growth in China, India, and other countries in the APAC region globally due to the presence of both young and aging population. Additionally, rapid urbanization and the growth of other key end-use industries are factors that are projected to reflect positively on the growth of the authentication and brand protection market during the forecast period.

The key players operating in the authentication and brand protection market include Authentix (US), Avery Dennison (US), Brady (US), De La Reu (UK), Wisekey (Switzerland), Infineon (Germany), Merck Group (Germany), Assa Abloy (Sweden), Centro Grafico (Italy), and Sunchemicals (US).

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Microwave Devices Market expected to reach $9.0 billion by 2027

 

The report "Microwave Devices Market by Product (Active Devices, Passive Devices), Frequency (Ku-band, C-band, Ka-band, L-band, X-band, S-band), End User (Space & Communication, Military & Defense, Healthcare), and Geography - Global Forecast to 2027", is projected to grow from USD 6.7 billion in 2021 to USD 9.0 billion by 2027; it is expected to grow at a CAGR of 5.1% from 2021 to 2027.

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The growth of the microwave devices market is driven by rising military & defense expenditure, growing need for secure and fast communications, and rising demand for microwave devices in patient monitoring. The advent of digital communication has increased the number of satellites to cater to the voluminous data or digital transmission of voices through single communication channels. Thereby creating revenue generating opportunities for the microwave devices market. The rising penetration of 5G and IoT infrastructure, miniaturization of devices, soaring need for effective and non-radioactive patient treatments, and technological breakthroughs in microwave equipment pertaining to the materials used is expected to attract lucrative opportunities for the microwave devices market.

The active devices segment of microwave devices market is expected to hold the biggest market share during the forecast period.

The high usage of active microwave devices in various defense and space electronics has led to the segment’s growth. Active devices are widely used for detecting, mixing, amplifying, filtering, and switching microwave signals in standalone equipment. The increasing investments in R&D by the market players to design advanced devices that are compatible with high-speed connectivity requirements are expected to fuel the growth of the active devices segment.

The Ku-band segment is expected to grow at the highest CAGR during the forecast period

The ability to adjust the uplink and downlink, as well as relatively less incurred cost, is expected to increase the deployment of Ku-band microwave devices. Ku-band has been a pioneer in implementing high-speed communication channels as it has lower throughput and is less susceptible to attenuation. Furthermore, it has shorter wavelengths, improved spot beam coverage, and requires less investment.

The space & communication segment is expected to grow at the highest CAGR of the microwave devices market during the forecast period.

The increase in the number of high-throughput satellites (HTS) and rising investments in space and related exploration activities are expected to drive the growth for the space & communication segment. The growing prominence of real-time video and audio streaming services has led to an increase in the use of microwave devices in space & communication domain.

North America region is expected to hold the largest share of microwave devices market during the forecast period.

On account of the rapid deployment of microwave devices in their warfare equipment, the US and North American microwave devices market is expected to foresee immense opportunities over the forecast period. The US military has emerged as one of the most technologically advanced armed forces in the world equipping modernized warfare infrastructure.

The key players operating in the Microwave Devices market include Thales Group (France), L3 Harris, Technologies, Inc. (US), Teledyne Technologies Incorporated (US), Qorvo, Inc. (US), and CPI International, Inc. (US).

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Interactive Display Market expected to reach $13.2 billion by 2025

 

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

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

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

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

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

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

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

North America is leading the market for interactive display in 2019

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

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

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Artificial Intelligence in Manufacturing Market worth $16.7 billion by 2026

 

The report "Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Technology (Machine Learning, Computer Vision, Context-Aware Computing, and NLP), Application, End-user Industry and Region - Global Forecast to 2026", is expected to be valued at USD 1.1 billion in 2020 and is likely to reach USD 16.7 billion by 2026; it is expected to grow at a CAGR of 57.2% during the forecast period. The major drivers for the market are the increasing number of large and complex datasets (often known as big data), evolving Industrial IoT and automation, improving computing power, and increasing venture capital investments.

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The hardware segment in the AI in manufacturing market projected to grow at highest CAGR during forecast period

The hardware segment is projected to grow at the highest CAGR from 2020 to 2026. Most of the AI hardware manufacturers have been in the business of providing the same hardware components for other technologies such as connected cars, machine vision cameras, and IoT for a long time. This will enable the companies to transfer the technology easily and accordingly develop the AI hardware. Moreover, the increasing participation of startups in AI hardware is complementing the growth of the hardware segment.

Quality control application of AI in manufacturing market to grow at highest CAGR during forecast period

The quality control application is expected to register the highest CAGR during the forecast period. Governments impose regulations on maintaining the quality according to certain benchmarks; for instance, the USD Food and Drug Administration (FDA) imposes stringent guidelines to regulate the quality of pharmaceutical products in accordance with the Current Good Manufacturing Practices (CGMPs). The growing use of robotics and deep learning technology in the manufacturing industry is expected to drive the growth of the AI in manufacturing market for the quality control application

AI in manufacturing market in APAC projected to grow at highest CAGR from 2020 to 2026

The AI in manufacturing market in APAC is expected to grow at the highest CAGR during 2020–2026. The presence of a large number of industries, especially in countries such as China, India, and Taiwan is resulting in the adoption of AI in the manufacturing sector in APAC. The increasing adoption of AI-based robots is also fueling the market’s growth in this region.

NVIDIA Corporation (US), IBM Corporation (US), Alphabet Inc. (Google) (US), Microsoft Corporation (US), Intel Corporation (US), Siemens AG (Germany), General Electric Company (US), General Vision Inc. (US), Progress Software Corporation (US), Micron Technology Inc., (US), Mitsubishi Electric Corporation (Japan), Sight Machine (US), Cisco Systems Inc., (US), and SAP SE (Germany) are the prominent players of AI in manufacturing market.

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AI in Healthcare Market : The software segment is projected to account for the largest share of market

 

According to the new market research report "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-aware Computing, Computer Vision), Application, End User and Geography - Global Forecast to 2027", is projected to grow from USD 6.9 billion in 2021 to USD 67.4 billion by 2027, it is expected to grow at a CAGR of 46.2% from 2021 to 2027.

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The key factors fueling the growth of the market include market influx of large and complex healthcare datasets, growing need to reduce healthcare costs, improving computing power and declining hardware cost,  rising number of partnerships and collaborations among different domains in healthcare sector, and surging need for improvised healthcare services due to imbalance between health workforce and patients. Additionally, growing potential of AI-based tools for elderly care, increasing focus on developing human-aware AI systems, and rising potential of AI technology in genomics, drug discovery, and imaging & diagnostics to fight COVID-19 is expected to create a growth opportunity for the artificial intelligence in healthcare market.

The software segment is projected to account for the largest share of the artificial intelligence in healthcare market during the forecast period.

Many companies are developing software solutions for various healthcare applications; this is the key factor complementing the growth of the software segment. Strong demand among software developers (especially in medical centers and universities) and widening applications of AI in the healthcare sector are among the prime factors complementing the growth of the AI platform within the software segment. Google AI Platform, TensorFlow, Microsoft Azure, Premonition, Watson Studio, Lumiata, and Infrrd are some of the top AI platforms.

The market for machine learning segment is expected to grow at the highest CAGR during the forecast period

The increasing adoption of machine learning technology (especially deep learning) in various healthcare applications such as inpatient monitoring & hospital management, drug discovery, medical imaging & diagnostics, and cybersecurity is driving the adoption of machine learning technology in the AI in healthcare market.

The medical imaging & diagnostics segment is expected to grow at the highest CAGR of the artificial intelligence in healthcare market during the 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.

North America region is expected to hold the largest share of artificial intelligence in healthcare market during the forecast period.

Increasing adoption of AI technology across the continuum of care, especially in the US, and high healthcare spending combined with the onset of COVID-19 pandemic accelerating the adoption of AI in hospital and clinics across the region are the major factors driving the growth of the North American market.

 The key players operating in the artificial intelligence in healthcare market include Intel (US), Koninklijke Philips (Netherlands), Microsoft (US), IBM (US), and Siemens Healthineers (Germany).

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