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.

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“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.

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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.

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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).

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Submarine Cable Systems Market expected to reach $22.7 billion by 2026

 

The report "Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography - Global Forecast to 2026",is projected to grow from USD 13.8 billion in 2021 to USD 22.7 billion by 2026 it is expected to grow at a CAGR of 10.5%from 2021 to 2026.

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The key factors fueling the growth of the market include increasing penetration of internet and collaboration among tier-1 vendors, expanding offshore wind power capacity, growing demand for bandwidth due to emergence of 5G, and increasing network of submarine power cable systems. Moreover, increasing investments by content delivery and streaming partners to create abundant opportunities in pacific region.

The power cables segment is projected to hold a larger share of the submarine cable systems market from 2021 to 2026 and is projected to grow at a higher CAGR than the communication cables segment during the forecast period.

The ongoing and proposed offshore wind capacity installations in many countries and the increased demand for intercountry & island connections are the key factors driving the growth of the power cables segment. The increasing demand for renewable energy from islands, coupled with the disproportional costs of maintaining local electricity production plants, has led to increased demand for laying power cables to transfer electricity from the mainland to the islands. Thus, the requirement to connect new renewable sources of energy to the main grids to ensure a reliable and continuous supply of power to isolated islands is fueling the demand for submarine power cables globally.

The Resin Impregnated Synthetics (RIS) segment of the submarine cable systems market is expected to grow at the highest CAGR during the forecast period.

RIS is the most recent technology in the market. It is similar to resin-impregnated paper technology, except that the bushings core is coiled using synthetic textiles instead of traditional paper as a spacer between the capacitive layers. They also have the same great fire-resistance, explosion-proof properties, and other benefits as typical dry/RIP bushings. Hitachi Energy is one of the prominent suppliers of RIS-insulated submarine cables.

The offshore wind power generation segment of submarine cable systems market is expected to hold the biggest market share in 2026 alongside growing at the highest CAGR during the forecast period.

The GWEC expects an increase in offshore wind power installations in Asia during the forecast period, followed by North America. According to GWEC, the annual global offshore installations are expected to reach 6 GW or more soon.

Asia Pacific region is expected to hold the largest share in the market during the forecast period.

Increasing government spending across countries including China and Korea to proliferate the demand for submarine power cable systems market.

The key players operating in the submarine cable systems market include Alcatel-Lucent Enterprise (France), SubCom LLC (US), NEC Corporation (Japan), NEXANS (France), and Prysmian Group (Italy).

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Submarine Cable Systems Market expected to reach $22.7 billion by 2026

 

The report "Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography - Global Forecast to 2026",is projected to grow from USD 13.8 billion in 2021 to USD 22.7 billion by 2026 it is expected to grow at a CAGR of 10.5%from 2021 to 2026.

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The key factors fueling the growth of the market include increasing penetration of internet and collaboration among tier-1 vendors, expanding offshore wind power capacity, growing demand for bandwidth due to emergence of 5G, and increasing network of submarine power cable systems. Moreover, increasing investments by content delivery and streaming partners to create abundant opportunities in pacific region.

The power cables segment is projected to hold a larger share of the submarine cable systems market from 2021 to 2026 and is projected to grow at a higher CAGR than the communication cables segment during the forecast period.

The ongoing and proposed offshore wind capacity installations in many countries and the increased demand for intercountry & island connections are the key factors driving the growth of the power cables segment. The increasing demand for renewable energy from islands, coupled with the disproportional costs of maintaining local electricity production plants, has led to increased demand for laying power cables to transfer electricity from the mainland to the islands. Thus, the requirement to connect new renewable sources of energy to the main grids to ensure a reliable and continuous supply of power to isolated islands is fueling the demand for submarine power cables globally.

The Resin Impregnated Synthetics (RIS) segment of the submarine cable systems market is expected to grow at the highest CAGR during the forecast period.

RIS is the most recent technology in the market. It is similar to resin-impregnated paper technology, except that the bushings core is coiled using synthetic textiles instead of traditional paper as a spacer between the capacitive layers. They also have the same great fire-resistance, explosion-proof properties, and other benefits as typical dry/RIP bushings. Hitachi Energy is one of the prominent suppliers of RIS-insulated submarine cables.

The offshore wind power generation segment of submarine cable systems market is expected to hold the biggest market share in 2026 alongside growing at the highest CAGR during the forecast period.

The GWEC expects an increase in offshore wind power installations in Asia during the forecast period, followed by North America. According to GWEC, the annual global offshore installations are expected to reach 6 GW or more soon.

Asia Pacific region is expected to hold the largest share in the market during the forecast period.

Increasing government spending across countries including China and Korea to proliferate the demand for submarine power cable systems market.

The key players operating in the submarine cable systems market include Alcatel-Lucent Enterprise (France), SubCom LLC (US), NEC Corporation (Japan), NEXANS (France), and Prysmian Group (Italy).

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Borescope Market expected to reach $ 837 million by 2024

 

According to the new market research report “Borescope Market by Type (Video, Flexible, Endoscope, Semi-rigid, Rigid), Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, Above 10 mm), Angle (0° to 90°, 90° to 180°, 180° to 360°), Industry, and Region - Global Forecast to 2024” the borescope market size is estimated to reach USD 837 million by 2024 from USD 674 million in 2019 at a CAGR of 4.4%.

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A borescope is an optical tool used for visual inspection. The optical device consists of a rigid or flexible tube with a display on one end and an objective lens or camera on the other end, where both the ends are linked together by an optical or electrical system. Borescopes are used for visual inspection in various industries such as aviation, automotive, power generation, oil & gas, and manufacturing. The growth of the market is propelled by the requirement for high operational productivity and the growing need for power generation plant maintenance.

“Video borescope to hold the largest share of the overall market from 2019 to 2024”

Video borescopes are used for real-time inspection of engines and other parts such as cylinders, mufflers, and transmissions systems. They help to reduce the repair time and cost as inspections become easy without dismantling the parts. Video borescopes have a large diameter, and high range compared to other types of borescopes and provides high-quality images, which is likely to contribute to the largest market share during the forecast period.

“Borescope market for 0° to 90° to grow at the highest CAGR during the forecast period”

A borescope has 0° angle for straight-on viewing, while a borescope that provides a side view of a tube has a 90° angle. Borescopes with the latter viewing angle are able to inspect piping and other narrow cavities with greater detail than a straight-ahead borescope. The high growth for 0° to 90° borescopes can be attributed to increasing demand from industries such as aviation, automotive, and power.

“Borescope market for the automotive industry to grow at highest CAGR from 2019 and 2024”

Visual inspection of engines and other parts of the vehicle such as cylinders and fuel pipes is important for ongoing automotive maintenance. They help to reduce the repair time and cost, as inspections become easy without dismantling the parts. A borescope is used for visualizing dark, small, and hard to reach out places.

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

The borescope market in APAC is expected to grow at the highest CAGR during 2019–2024. The growth of the market in this region can be attributed to increasing infrastructure advancements and adoption of automation in manufacturing industries. Therapid growth of automotive, power generation, and oil & gas industries in emerging economies, such as China, India, and Japan, have contributed to the growth of the borescope market in APAC.

Major players involved in the Borescope market include Olympus (Japan), SKF (Sweden), Baker Hughes (US), FLIR (US), Stanlay (India), FLUKE (US), Vizaar (Germany), AIT (US), Gradient Lens Corporation (US), and JME Technologies (US).

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Plasma Lighting Market expected to reach $415 million by 2024

According to the new market research report "Plasma Lighting Market by Component (Lightron, Waveguide, and Cavity Resonator), Application (Roadways, Streets, and Tunnels Industrial, and Horticulture), Wattage (300W, 700W, and 1,000W), and Geography - Global Forecast to 2024", the plasma lighting market is expected to be worth USD 329 million in 2019 and reach USD 415 million by 2024, at a CAGR of 4.7% from 2019 to 2024. The growth of this market can be attributed to the increasing awareness across the globe about energy-efficient lighting technologies. In addition, initiatives by governments of different countries to encourage the use of energy-efficient lights are also fueling the growth of the market.

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An industrial segment to hold the largest share of the plasma lighting market in 2019

By application, the industrial segment will lead the plasma lighting market in 2019. The increasing awareness about safety and security of employee is the prime factor behind industrial segment growth. In industrial settings, safety is a primary concern, and proper and adequate lighting is a key factor to maintain high productivity of workers. The improper application of light can result in excessive lighting, leading to energy wastage. The industrial end users can save on lighting expenses and conserve energy by using solid-state and other energy-efficient lighting systems such as LEP.

Europe expected to hold the largest share of the plasma lighting market in 2019

Europe is expected to hold the largest share of the plasma lighting market in 2019. It is among technologically advanced regions of the world. Several European countries are taking initiatives to increase the adoption of energy-efficient, low maintenance, and reliable lighting solutions. Plasma lights have been used in Europe for the past few decades to grow plants in commercial greenhouses. The use of plasma lights to grow plants in this region is gradually increasing from being a supplemental lighting source to becoming the primary source of light in indoor farming.

The population of Europe has expanded rapidly in recent times, and the countries are importing frozen fruits and vegetables from Africa and Asia. Indoor horticulture is gaining rapid momentum in some of the major countries of Europe to obtain fresh produce from local farms. This is expected to generate increased demand for plasma light systems used in greenhouses in the coming years.

A few key players operating in the plasma lighting market are Luma Group (US), Ceravision (UK), Hive Lighting (US), Ka Shui International Holdings (China), Green de Corp (China), Gavita (Netherlands), Griffin & Ray (US), Guangzhou Kaiming Industries (China), BIRNS (US) and FusionLux (US).

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Smart Badge Market expected to reach $33.8 billion by 2025

The report "Smart Badge Market by Communication (Contact and ContactLess), Type (With Displays and Without Displays), Application (Government & Healthcare, Corporate, and Retail & Hospitality) and Region (NA, EU, APAC, ROW) - Global Forecast to 2025", is estimated to grow from USD 21.1 billion in 2020 to USD 33.8 billion by 2025, at a CAGR of 9.9% between 2020 and 2025. Increasing demand for wearable access control devices for security management is the major factor driving the growth of the market.

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“Government & healthcare is the most attractive segment that is gaining attention in the smart badge industry.”

In 2019, the government and healthcare segment held the largest share of the smart badge market. The growth of this segment of the market can be attributed to the adoption of smart badges for access control and critical data storage, as well as to ensure national security. The governments of developed and developing countries rely on the sprawling patchwork of systems to identify and manage people using smart cards.

“Smart badge market in APAC expected to grow at the highest CAGR during the forecast period.“

APAC accounted for the largest share of the smart badges market with displays in 2019, owing to the presence of a large consumer base of these badges in the region. A major portion of the demand for smart badges with displays is from China, followed by Japan and South Korea. However, the market in North America is projected to grow at the highest CAGR during the forecast period. North America has always been a forerunner in adopting new and innovative technologies. Countries of North America are developed economies. As such, the adoption rate of information and communication and smart wearable technologies is the highest in the region.

Some of the leading players in this market are Thales Group (Gemalto) (France), ASSA ABLOY AB (HID Global Corporation) (Sweden), Giesecke+Devrient GmbH (Germany), Brady Worldwide, Inc. (US), IDEMIA (France), Evolis (France), Identiv Inc. (US), BEAM (US), AIOI-SYSTEMS CO., LTD. (DISPLAY IT CARD) (Japan), Watchdata (Singapore), and Identita (Canada). The other players operating in the market include Blendology (UK), Squarofumi (China), KONA I Co. Ltd. (South Korea), Proxfinity Inc. (US), Klik (Canada), Global Net Solutions (GNS) (US), CardLogix Corporation (US), MpicoSys Solutions B.V. (Netherlands), AbeeWay (France), and HierStar Ltd. (China).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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