$22.7 Billion Submarine Cable Systems Market the Present and Future of Power Cables

 

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.

Submarine cable systems are communication cables laid on the ocean floor for the purpose of transmitting data between different parts of the world. These cables are used to connect continents, countries, and islands, and they carry voice, data, and video traffic over long distances. Submarine cable systems are critical to global communication networks, and they play a vital role in enabling international trade, finance, and social connectivity.

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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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Infrared Detector Market Poised to Surpass $619 Mn by 2026

 

According to the new market research report "Infrared detector Market with COVID-19 Impact Analysis by type (MCT, INGaas, Pyroelectric, Thermopile, microbolometer), Technology (Cooled and Uncooled ), Wavelength (NIR & SWIR, MWIR, LWIR), Application, Vertical and Geography - Global Forecast to 2026", The overall Infrared detector market is expected to grow from USD 446 million in 2021 to USD 619 million by 2026, at a CAGR of 6.8%. An infrared detector is an electronic device used to detect infrared radiation by sensing the surrounding environment. Infrared detectors have the ability to detect a range of wavelengths in the infrared spectrum, typically between 0.7 ìm and 1 ìm. The market offers a variety of infrared detectors, including mercury cadmium telluride (MCT/HgCdTe), indium gallium arsenide (InGaAs), microbolometer, pyroelectric, and thermopile infrared detectors. These detectors are commonly used for various purposes such as people and motion sensing, temperature measurement, security and surveillance, gas and fire detection, as well as spectroscopy and biomedical imaging in both industrial and non-industrial settings.

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A few key infrared detector market players are Excelitas Technologies (US), Hamamatsu Photonics (Japan), Murata Manufacturing (Japan), FLIR Systems, Inc. (US), Texas Instruments (US), Nippon Ceramic (Japan), Omron Corporation (Japan), and Lynred (France).

Pyroelectric Type Dominates the Infrared Detector Market with the Largest Share

This segment is expected to hold its dominating position during the forecast period. People and motion sensing is the key application area of pyroelectric infrared detectors. Every object or substance emits some radiant energy, known as infrared radiation, which can be detected by infrared detectors. Pyroelectric infrared detectors use passive infrared (PIR) technology, which can detect the amount of infrared radiation radiated from an object/substance. These detectors can also identify the changes in the amount of radiation, which depends on the change in temperature of the object. Passive infrared detector devices do not generate or radiate any energy for detection. PIR-based motion detectors are used to sense the movement of people, animals, objects, and substances. Excelitas Technologies (US), Nippon Ceramic (Japan), and Murata Manufacturing (Japan) are some of the key manufacturers of pyroelectric infrared detectors.

The market for people and motion sensing application to grow at the highest CAGR during the forecast period

Infrared detectors are used in people and motion sensing applications for detecting the movement of an object or human beings. People and motion sensing devices are widely used in retail stores, stadiums, shopping malls, and museums for counting the number of people entering and leaving the particular space and observing their movements. Besides, these detectors are also increasingly being used in commercial and residential infrastructure for building automation and increasing safety. For instance, infrared sensors are being used in smart lighting systems for presence detection, which enables the lights to be switched on and off automatically after detecting the presence of any living being. Another example of the application of infrared detectors in buildings is their use in security systems. Security systems use infrared detectors or sensors to identify thieves and robbers. Infrared detectors are fixed on the side of windows. These detectors raise the alarm when a person is detected at the window. A pulse is transmitted by the infrared detector, which is transferred to the alarm system to raise the alert. Passive infrared sensors (PIR), also known as pyroelectric sensors, are commonly used for people and motion sensing application. Automotive is another emerging segment where infrared detectors are used for people detection.

North America to hold the largest share of Infrared detector market

The infrared detector market in North America has been further classified into the US, Canada, and Mexico. The regional market growth is dominated by major companies such as Excelitas Technologies (US), Texas Instruments (US), Honeywell International (US), and FLIR Systems (US). These companies are striving to expand their presence in emerging markets such as APAC. Prominent companies in the infrared detector market are also acquiring, collaborating, and partnering with companies from various industries such as automotive and military & defense to broaden their product portfolio and expand their presence. For instance, in October 2019, FLIR Systems (US) partnered with Veoneer (US), a tier-one automotive supplier, to provide thermal sensing technology for use in Veoneer’s self-driving cars.

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Collaborative Robot Market Worth $9.2 Bn by 2028, at CAGR 41.5%

 

The report "Collaborative Robot Market by Component, Payload (Up to 5 Kg, 5-10 Kg, and Above 10 Kg), Application (Handling, Processing), Industry (Automotive, Electronics, Healthcare, Furniture & Equipment) and Geography - Global Forecast to 2028" The global collaborative robot market is projected to grow from USD 1.1 Billion in 2022 to USD 9.2 Billion by 2028, at a CAGR of 41.5% during the forecast period from 2022 to 2028. The growth of this market is driven by factors such as high return on investment as compared to the traditional industrial robotic system, increasing demand in the e-commerce and logistics industries due to contingency of COVID-19, cobots to benefit businesses of all sizes, and increased ease of programming of collaborative robots. However, higher preference for low payload capacity traditional industrial robots over cobots in heavy-duty industries restrain the growth of the collaborative robot market.

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Cobot robots with payload capacity up to 5 kg expected to hold the largest share of the market during the forecast period

Cobots with payload capacity up to 5 kg holds the largest market share and is expected to retain its position during the forecast period. First-time users prefer low payload capacity cobots, which are cheaper and take up less space than robots with higher payload capacity. For instance, COBOTTA, a cobot from DENSO Corporation (Japan), has an inherently safe design owing to its low weight and, therefore, does not require extensive use of sensors compared to higher payload cobots, thus keeping it more affordable. SAWYER and SAWYER Black Edition from Rethink Robotics GmbH (US) are both single arm cobots with a payload capacity of 4 kg and a maximum reach of 1,260 mm. These collaborative robots are equipped with the company’s proprietary software suite, Intera. Hence, they do not require a separate software interface.

Automotive industry Europe accounts for largest market share of collaborative robot market in 2021

The collaborative robot market in the automotive industry held the largest share, both in terms of the value and volume in 2021. Collaborative robots are not only being used by major car manufacturers, but also by numerous OEMs that supply automotive parts to these car manufacturers. Conventionally, traditional industrial robots have been employed by the automotive industry and auto-parts manufacturers to perform high-speed operations behind cages. But, in recent years, the focus of the automotive manufacturers is shifting toward light weighting, the trend of substituting heavy metal parts with plastic to reduce vehicle mass and create greater efficiency. For this purpose, plastic injection molding machines are used in the automotive industry, and these machines require constant tending. It is difficult to find labor for performing such monotonous and repetitive tasks. In such a case, collaborative robots are preferable as they can work in tandem with the workers on the lines and perform such operations with inept flexibility in different areas such as material handling, machine tending, performing test and inspection, and packing finished goods.

Europe accounts for second-largest market share of cobot market in 2021

Europe held the second-largest share of the collaborative robot market in 2021. Many of the early adopters of collaborative robots were from European countries. With the advent of Industry 4.0 in Europe, the manufacturing sector brought in collaborative robots to modernize and improve their production capabilities. SMEs in Europe are largely looking into automation to deploy collaborative robots to perform dirty and dangerous jobs. Polishing tasks, for example, are being done by collaborative robots, with workers performing the final inspection. Europe houses several key collaborative robot players such as Universal Robots A/S (Denmark) and KUKA AG (Germany). KUKA AG was one of the first manufacturers to offer cobots to the market, while Universal Robots has been the market leader for cobots for several years now.

Some of the key companies in the collaborative robot market include Universal Robots A/S (Denmark), FANUC Corporation (Japan), ABB (Switzerland), Techman Robot Inc (Taiwan), KUKA AG (Germany), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing) Robotics Technology Co., Ltd (China), and Rethink Robotics GmbH (US), Omron Adept Technologies, Inc. (US), Franka Emika GmbH (Germany), etc.

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Text-to-Speech Market expected to reach $5.0 Bn by 2026

 

The report "Text-to-Speech Market with COVID-19 Impact By Offering (Software, Services), Vertical (Enterprise, Consumer Electronics, Education, Retail), Deployment, Language, Organization Size, Voice Type, and Geography-Forecast 2026" The text-to-speech market was valued at USD 2.0 billion in 2020 and is estimated to reach USD 5.0 billion by 2026, registering a CAGR of 14.6% during the forecast period.

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The major factors driving the growth of the text-to-speech market are rising demand for handheld devices, increased government spending on education for differently abled, the dependence of the growing elderly population on technology, and the rising number of people with different learning disabilities or learning styles are factors driving the growth of the text-to-speech market. However, the lack of prosody and pronunciation of naturally occurring speech may restrain the growth of the market during the review period.  

Services are projected to witness the highest CAGR for the forecast period

Services are expected to hold a major share during the forecast period. Services play a vital role in the functionality of text-to-speech software. They are an integral step in deploying tools and are taken care of by solution, platform, and service providers. The major companies in various industries are adopting text-to-speech to deal with the rapidly increasing audio/video-based content. This is helping companies find new ways to tap the wealth of data to develop new products, services, and processes, thus gaining a competitive advantage.

Neural and Custom voice type to account for largest share of text-to-speech market during forecast period 

The neural and custom voice type is expected to account for a larger market size during the forecast period owing to its ability to generate speech with humanlike intonation, engagement, and personalized user experience, which is expected to drive the adoption of neural and custom voice systems and software during the forecast period.

Cloud based deployment mode will have highest growth in coming years

The cloud segment, on the contrary, benefits organizations with increased scalability, speed, 24/7 service, and enhanced IT security. The growing adoption of SaaS applications by enterprises is generating huge growth prospects for cloud-based text-to-speech software. The cloud-based deployment mode is expected to account for larger market size and its market is growing at a higher CAGR. The COVID-19 crisis has also driven the growth of the market for cloud-based deployment mode due to its scalability, security, reliability, and cost-effectiveness

Large Enterprises are leading adopters of text-to-speech software and services in 2020

Large enterprises are the leading adopters of text-to-speech software and services with the increasing need for speech recognition, virtual assistants, and chatbots. Hence, large enterprises accounted for significant share in 2020. SMEs have been gradually recognizing the importance of text-to-speech solutions and have started deploying them to enhance customer experience and gain a leading edge in the market. Owing to the availability of cost-effective cloud solutions, text-to-speech software and services are expected to witness a prominent growth rate among SMEs during the forecast period.

English and Mandarin Chinese, by language in text-to-speech market, hold the highest and second-highest share in coming years

The demand for English and Mandarin Chinese languages in text-to-speech software tends to increase as roughly 1.1 billion or 15% of the global population can speak English followed by Mandarin Chinese, Hindi, and Spanish. The English language holds a major share of the text-to-speech market in 2020 while the market for Spanish is expected to grow at the highest CAGR during the forecast period of 2021–2026.

APAC is attributed to grow at the highest CAGR in the text-to-speech market during their forecast period (2021-2026)

APAC is witnessing increased traction for speech recognition solutions integrated with text-to-speech due to the growing penetration of AI, analytics, and IoT devices in the region. This is creating a favorable market environment, and the region is witnessing rising adoption of voice-activated technology in the Asian markets, such as India, China, Indonesia, Australia, Japan, and Singapore. In Japan and China, text-to-speech systems have been deployed at airports and ATMs. Other countries, such as Singapore, Hong Kong, Indonesia, and Malaysia, are looking forward to integrating new technologies into their businesses.

Key Market Players

The Text-to-Speech market was dominated by Nuance Communication (US), Microsoft Corporation (US), IBM Corporation (US), Google, Inc. (US) and Amazon.com (US)

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Real-time Location Systems Market (RTLS) worth $12.7 Bn by 2026

 

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 & Region - Global Forecast to 2026" the RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7 billion by 2026, at a CAGR of 26.5%. The increasing regulations in various industries to improve safety, workflow, and security and increasing popularity of ultra-wideband technology-based RTLS solutions are the key factors that will accelerate the growth of the RTLS market during the forecast period. Likewise, growing need for contact-tracing solutions due to COVID-19 pandemic and growing trend of hybrid RTLS solution are expected to create lucrative opportunities for the players in the RTLS market. However, high cost of installation and maintenance and stringent government rules and regulation are expected to restraint market growth

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Healthcare vertical is expected to dominate in the RTLS market during the forecast period

The healthcare vertical is expected to continue to account for the largest market size during the forecast period. The growth of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The growing usage of IoT devices in the healthcare sector is also expected to contribute to the growth of the RTLS market in the healthcare vertical. Concerns over the safety of patients and security of electronic health records and valuable assets have also encouraged the adoption of RTLS solutions in healthcare.

Supply chain management & operational automation/visibility application expected to witness the highest CAGR in the RTLS display market during the forecast period

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

UWB Technology is expected to grow at the highest CAGR in 2026

The market for UWB-based RTLS solutions is expected to grow at the highest CAGR of 33% during the forecast period. UWB technology-based RTLS solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support locating objects down to the range of a few centimeters. This is highly beneficial in high-intensity operations in the healthcare and manufacturing verticals. The rapid decline in the prices of UWB tags has also resulted in the increased implementation of these tags in RTLS solutions. The manufacturing and logistics industries are likely to be the major contributors to the growth of the market for UWB-based RTLS solutions in the coming years.

APAC is attributed to grow at the highest CAGR in RTLS market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the overall RTLS market. The RTLS for Healthcare market in APAC is growing primarily due to rise in the rising number of smartphone & tablet users, partnerships between RTLS players and hospitals, and the presence of supportive government policies.

Advancements in technology have always had major impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trends in communication and real-time location tracking. Moreover, these devices are primarily used in the RTLS solutions for tracking and monitoring patients, staff, as well as medical equipment. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications. Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly. Smartphones aren’t just making it easier in terms of day-to-day chores; the technology is also streamlining care for both physicians and patients.

Key Market Players

Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), and Savi Technology (US) are among the key players in the RTLS market.

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Innovations and Advancements in Edge AI Hardware to Propel Market to 2,716 Mn Units by 2027

 

According to the new market research report "Edge AI Hardware Market by Device, Processor(CPU, GPU, and ASIC), Function, Power Consumption( Less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W), Vertical and Geography - Global Forecast to 2027" The edge AI hardware market is projected to grow from 1,056 Million Units to reach 2,716 million units by 2027; it is expected to grow at a CAGR of 20.8% during the forecast period.

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Wearables in devices is expected to have highest CAGR during the forecast period

The increasing use of wearables among consumers is becoming more common as people are shifting from conventional wearables to smart and sophisticated ones. This has opened a huge opportunity for the edge AI hardware market players. Smart wearables and health trackers could further accelerate the growth of the edge AI hardware market for wearables.

GPU is expected to have highest CAGR during the forecast period

The market for GPU is expected to grow with the highest CAGR during the forecast period. Constant research and development from companies such as NVIDIA and Intel to improve graphics quality, make it more user-friendly, and deploy computer vision algorithms is driving the market for GPU. For instance, NVIDIA introduced a new gaming GPU with Ampere architecture and 2nd generation of NVIDIA RTX™.

Inference in function to have the largest market size during the forecast period.

The development of low-power and high-performance processors and the increasing demand for IoT applications have led to a growing interest in edge AI. Reduction in latency as data does not need to be sent on the cloud is a major factor driving the edge AI market. Performance and memory consumption are the keys to the successful implementation of edge AI. Once the ML model is trained, it is deployed on the device for inference to classify, recognize, and process new inputs. The cost of computation resources is lower for inference than training on the device. On-device inference can lead to high responsiveness, which is a major factor for the growth of the market for edge AI hardware products designed to draw inferences.

China to grow with the highest CAGR  in Asia Pacific region during the forecast period

China is the largest market for edge AI hardware in Asia Pacific. Devices such as smartphones, industrial robots, and automobiles hold a huge growth potential for the edge AI hardware market in Asia Pacific. The region is becoming a center of attraction for major investments as it holds significant business expansion opportunities. Various AI processor start-ups in China are raising funds to grow in the edge AI hardware market. For example, ThinkForce (China) raised around USD 68 million, and DeePhi (China) raised around USD 40 million.

The report profiles key players in the edge AI hardware market and analyzes their market shares. Players profiled in this report are  Apple (US), MediaTek (Taiwan), Qualcomm Technologies (US), Huawei Technologies (China), and Samsung Electronics (South Korea), Intel (US), NVIDIA (US), IBM(US), Google (US), Microsift (US), AMD (US), Micron Technology (US),  Imagination Technologies (UK), Cambricon Technologies (China), Tenstorrent (Canada), Blaize (US), General Vision (US), Mythic (US), Zero ASIC (US), Applied Brain Research (Canada), Horizon Robotics (China), CEVA (US),  Graph core (UK), SambaNova (US), Hailo (Israel), Veridify Security (US).

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Speech and Voice Recognition Market worth $28.1 Bn by 2027

 

According to a research report "Speech and Voice Recognition Market by Deployment Mode (On-Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography (Americas, Europe, APAC, Rest of the World) - Global Forecast to 2027" published by MarketsandMarkets, the global speech and voice recognition market size is projected to grow from USD 9.4 billion in 2022  to USD 28.1 billion by 2027;  it is expected to grow at a CAGR of 24.4% from 2022 to 2027.

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The key factors contributing to the growth of the speech and voice recognition market include increasing demand in healthcare for improving efficiency and the growing use of smart appliances are among the factors driving the growth of the speech and voice recognition market.

Consumers are likely to register high CAGR

In 2021, the consumer segment the largest share of the speech and voice recognition market. The growing requirement for mobile device and application authentication and the increasing use of voice-controlled wearable devices are expected to drive the speech and voice recognition market growth. Apac region is expected to achieve the highest CAGR during the forecast period owing to the high demand of mobile and wearables devices in the region.

The consumer sector is expected to register the highest CAGR during the forecast period. The demand for speech and voice recognition solutions in this sector is primarily attributed to the growing use of speech recognition technology in consumer products such as smartphones, laptops, tablets, and smart home devices. This factor is likely to drive the growth of the market during the forecast period as well.

APAC exhibit the highest CAGR during the forecast period

The market in the APAC is expected to grow at the highest CAGR from 2022 to 2027. The growing focus on integrating artificial intelligence (AI) into industrial devices is expected to contribute to the growth of the voice recognition market for enterprise applications in the Asia Pacific during the forecast period. Additionally, the governments focus on bringing digitalization and technological innovations in industries is also expected to propel the growth of the market in the Asia Pacific.

Voice recognition to hold the higher CAGR during the forecast period.

Voice recognition is projected to grow at the highest CAGR during the forecast period Data security concerns due to cyberattacks, data breaches by intruders and issues related to illegal migrants are some of the major factors contributing to the higher growth rate of the market for voice recognition technology.

On-cloud segment is projected to dominate the speech and voice recognition market

The on-cloud segment is expected to account for a larger market share due to the ability of the cloud infrastructure to provide self-service applications at a minimal cost. The cloud-hosted deployment mode offers easy accessibility to data from anywhere at any time. Cloud-hosted speech and voice recognition solutions can also be easily integrated with the existing server, which operates on its physical hardware in minimal time.

The key players in this market are Apple (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Baidu (China), iFlytek (China) and SESTEK (Turkey), speak2web (US), and Verint (US). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

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