Supercapacitor Market worth 912 million by 2027, at a CAGR of 14.1%

 

According to the new market research report "Supercapacitor Market by Type (Double Layer Capacitors, Pseudocapacitors, Hybrid Capacitors), Electrode Material (Carbon, Metal Oxide, Conducting Polymers, Composites), Application (Automotive, Energy, Consumer Electronics) - Global Forecast to 2027" The global supercapacitor market size is expected to grow from USD 472 million in 2022 to USD 912 million by 2027, at a CAGR of 14.1%. The use of technology-integrated supercapacitor solutions and the inclination of manufacturing companies toward predictive maintenance techniques are the key factors boosting the growth of the market.

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Hybrid capacitor segment to grow at the fastest CAGR during the forecast period.

Hybrid capacitor of the supercapacitor market is expected to grow at the highest CAGR from 2022 to 2027. Hybrid capacitors use one electrode and one electrochemical cell. They have a higher energy density than double-layered capacitors. These capacitors are free from self-discharge and have greater durability than lithium-ion batteries. Hence these capacitors are used on a large scale in off-grid lighting applications, powering LED devices, automotive applications and so on.

Carbon is projected to hold the largest share of the supercapacitor market for electrode material in 2022.

Carbon is expected to capture the largest market share in 2022. Carbon is one of the most abundant materials present in nature. Hence, it is economical to use carbon in energy storage and conversion processes. Carbon materials are ideal for supercapacitors owing to their excellent mechanical strength, good electrical conductivity, high electron mobility, high chemical stability, large surface area, and highly tunable properties.

China to account for a significant market share of Asia Pacific from 2022 to 2027

China is projected to account for the major share of the supercapacitor market in Asia Pacific from 2022 to 2027. The country is a key manufacturer of electronic devices. The country is also know for low cost automotive product manufacturing. It is the most significant economy in the region. Factors such as ongoing industrialization, the rising requirement for replacing aging renewable plants and energy sources, and increasing adoption of preventive maintenance activities by manufacturing firms in automotive, electronics, industrial and other applications is pushing the growth of the supercapacitor market in China.

Panasonic Industry (Japan), Eaton(Ireland), Nippon Chemi-Con(Japan), Maxwell Technologies(South Korea), and Cap-XX(Australia)are the top five players in the supercapacitor market are some of the key players operating in supercapacitor market globally.

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Artificial Intelligence (chipsets) Market worth $64.5 billion by 2028, at a CAGR of 28.1%

 

The report "Artificial Intelligence (chipsets) Market by Technology (Machine Learning, Natural Language Processing, Computer Vision), Function (Training, Inference), Hardware (Processor, Memory, Network), End-user Industry and Region - Global Forecast to 2028" The global AI (chipsets) market is expected to be valued at USD 18.6 billion in 2023 and is projected to reach USD 64.5 billion by 2028; it is expected to grow at a CAGR of 28.1% from 2023 to 2028. With the proliferation of connected devices, the Internet of Things (IoT), and the digitization of various industries, a massive influx of data is being generated. AI chipsets are crucial in processing and analyzing this vast amount of data in real-time, enabling businesses to extract valuable insights and make data-driven decisions. However, the high costs associated with developing advanced AI (chipsets) pose a barrier to the growth of this market.

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Computer Vision is expected to hold the highest CAGR for the technology segment during the forecast period.

Computer vision applications often require real-time or near-real-time processing capabilities, mainly when immediate decisions or actions must be based on visual data. The demand for computer vision applications is growing across various industries, including healthcare, automotive, retail, surveillance, robotics, and augmented reality. These applications include object detection, image recognition, facial recognition, autonomous vehicles, and quality control systems. AI chipsets are essential for powering the advanced algorithms and processing capabilities required for real-time, high-performance computer vision tasks.

Inference function to hold the highest market share during the forecast period.

AI chipsets explicitly designed for inference functions are optimized for power efficiency and cost-effectiveness. Many AI applications, such as autonomous driving, industrial automation, natural language processing, and video analytics, require real-time or near-real-time data processing. AI chipsets optimized for inference function enable quick decision-making and response by processing data on the device without relying on cloud or remote servers. This low-latency processing capability is crucial for time-sensitive applications and is driving the growth of the AI chipset market for inference.

Artificial Intelligence (chipsets) market for memory hardware segment to hold the highest CAGR during the forecast period.

AI chipsets with advanced memory hardware are essential for storing and retrieving large datasets and model parameters, enabling efficient and high-performance AI processing. AI workloads, particularly those involving large-scale neural networks, demand high memory bandwidth to efficiently feed the vast amount of data to the processing units. Memory hardware that offers higher bandwidth, such as advanced memory interfaces like GDDR (Graphics Double Data Rate) and HBM, enables faster data transfers and improves overall system performance. The growing need for enhanced memory bandwidth drives the adoption of advanced memory solutions in AI chipsets.

Artificial Intelligence (chipsets) market for the healthcare industry to hold the highest market share during the forecast period.

The healthcare industry has seen a surge in investments in AI healthcare startups and collaborations between technology companies, healthcare providers, and research institutions. These investments drive innovation in AI chipsets, accelerate product development, and facilitate the integration of AI technologies into existing healthcare systems. Collaborations between AI chipset manufacturers and healthcare providers enable the customization and deployment of AI chipsets for specific healthcare needs. AI chipsets are crucial for powering the high-performance computing required to process complex medical data and run AI algorithms in real-time. These factors are driving the adoption of AI chipsets in the healthcare sector.

Artificial Intelligence (chipsets) market in Canada for North America to hold the highest market share during the forecast period.

The Canadian government has recognized AI’s potential and taken proactive measures to support its development. Initiatives such as the Pan-Canadian AI Strategy and the Vector Institute for Artificial Intelligence have been established to foster AI research, talent development, and commercialization. The government provides funding and grants to startups and companies involved in AI research and development, including those in the AI chipset sector. Canada has a robust AI research and development ecosystem, with renowned academic institutions, research centers, and AI-focused companies. Institutions like the University of Toronto, McGill University, and the University of Waterloo have significantly contributed to AI. This research expertise fosters innovation and drives advancements in AI chipsets, leading to market growth.

The Artificial Intelligence (chipsets) market includes significant Tier I and II players like Intel Corporation (US), Nvidia Corporation (US), Qualcomm Technologies Inc. (US), Micron Technology, Inc. (US), Advanced Micro Devices, Inc. (US), and others. These players have a strong market presence for Artificial Intelligence (chipsets) across various North America, Europe, Asia Pacific, and RoW countries.

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IO-Link Market worth USD 33.9 billion by 2028, at a CAGR of 20.0%

 

The report "IO-Link Market by Type (IO-Link Wired, IO-Link Wireless), Component (IO-Link Masters, IO-Link Devices), Industry (Process Industries, Hybrid Industries), Application (Machine Tools, Intralogistics Solutions) and Region - Global Forecast to 2028" The IO-Link market is projected to reach USD 33.9 billion by 2028 from an estimated USD 13.6 billion in 2023, at a CAGR of 20.0% from 2023 to 2028. The rise in demand for IO-Link solutions can be attributed to rising demand for industry 4.0 and growing demand for remote configuration, monitoring, and maintenance.

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IO-Link wired segment to propel market growth during forecast period.

IO-Link wired is used in automated production in industrial environments for linking sensors and actuators. It supports a master–slave configuration with passive connection points, which further reduces wiring requirements. IO-Link wired communication offers transmission of three different data types: service data, process data, and event data. Owing to this, the IO-Link wired segment is expected to account a larger market share of the IO-Link market in 2028.

IO-Link devices segment is expected to dominate IO-Link market in 2028

In 2028, the IO-Link devices segment is expected to dominate the IO-Link market. IO-Link devices refer to intelligent sensors or actuators such as converters, device circuit breakers, I/Os, safety relays, and motor starters connected to a system. IO-Link makes it possible to drive industrial communication from the lowest level of automation—the sensor level. A device has identification data, e.g., type designation, serial number, or parameter data, that is readable over the IO-Link protocol. In addition, IO-Link devices can supply detailed diagnostics data that can be used for preventive maintenance and servicing.

In 2028, discrete industries segment to account largest share of IO-Link market

The discrete industries segment is expected to account the largest share of the IO-Link market in 2028. Discrete manufacturing involves parts and systems such as nuts and bolts, brackets, wires, assemblies, and individual products. A discrete product at the end of its life cycle can be broken down into its components, which can be recycled. Discrete manufacturers use a bill of materials (BOM), and production follows a route, e.g., an assembly line. Discrete manufacturers use automation systems to operate and control motors, robots, and conveyors. Increasing global competition and growing consumer demand encourage discrete manufacturers to improve their production quality and reduce operational costs.

The handling and assembly automation segment to dominate IO-Link market in 2028

Handling and assembly processes are strongly influenced by the products being manufactured in a plant and require flexibility and openness to develop and implement individual processes. The increasing complexity of products and the growing need to run multiple products on the same line have increased the pressure on manufacturers. Hence, IO-Link, being a serial communication standard and capable of connecting valves and RFID read heads, is gaining traction in the market for the smooth operation of handling and assembly processes. Some of the benefits offered by IO-Link in the handling and assembly automation include simplified connection of RFID read heads, valve terminals, and standard sensors; modular construction of equipment; easy electrical connection; and reduction of resources required. Thus, the handling and assembly automation segment to dominate the IO-Link market in 2028.

Europe likely to hold largest share of IO-Link market during forecast period

Europe is likely to account the largest share of the IO-Link market during the forecast period. The region focuses on developing highly advanced connected cars and autonomous vehicles, thereby accelerating the demand for IO-Link solutions. The region produces a large number of motor vehicles, aerospace parts, and robots. Thus, the robots manufacturing industry and aerospace industry are an integral part of Europe’s economy. These industries help the IO-Link market to grow rapidly. Also, the region houses leading players in the IO-Link market, such as Siemens AG, Balluff GmbH, ifm electronics GmbH, and SICK AG.

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

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Common-mode Chokes Market worth USD 820 Million by 2028

 

The report "Common-mode Chokes Market by Type (Data Line, Power Line, Signal Line), Verticals (Aerospace & Defense, Automotive, Commercial, Consumer Electronics, Industrial) and Region - Global Forecast to 2028" The Common-mode Chokes Market is projected to grow from USD 629 Million in 2023 to USD 820 Million by 2028; it is expected to grow at a CAGR of 5.4% during the forecast period. The growth of the market is attributed to the increasing adoption of common-mode chokes in consumer electronics, growing trend towards industrial 4.0 technology, rising demand in automotive and transportation application. Proliferation of stringent regulation related to  emission of electromagnetic energy causing EMI is expected to create growth opportunities for the market.

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Power line type to account for a larger share of common-mode chokes market in 2023

Power line common-mode chokes are expected to command the market during the forecast period. Common-mode choke manufacturers are keen on offering low-profile, miniature common-mode chokes

that efficiently help attenuate common-mode noise in both power and data line applications. For example,Coilcraft Inc. offers LPD, MSD, and PFD common-mode chokes that provide filtering in a single, low-profile, miniature device.

Consumer electronics segment to lead common-mode chokes market in 2023

Common-mode chokes in the consumer electronics vertical find applications in LCD (liquid-crystal display) panels, power cables, USB drives, computers, laptops, monitors, television sets, etc. Innovations in sensor technology and a rising focus on the miniaturization of electronic components integrated into consumer electronics and household products are likely to generate growth opportunities for the providers of common-mode chokes. These electronic products include digital and analog circuitries installed very close to each other, thereby creating common-mode noise and electromagnetic interference, which can cause malfunction and degradation in the performance of electrical equipment. New regulations and standards defined for consumer electronic appliances are further boosting the adoption of common-mode chokes. It will also drive the development of technologically advanced common-mode chokes.

Market in Asia Pacific to hold significant opportunities for the market during forecast period

There is an increased demand for common-mode chokes in Asia Pacific, especially from major countries such as China, Japan, South Korea, and India. The growth of the common-mode chokes market in Asia Pacific can be attributed to increased investments across industries in factory automation and the booming electronics manufacturing sector. Ongoing technological innovations and the increasing adoption of automation technology in various industries have accelerated the demand for common-mode chokes in the region. According to the International Federation of Robotics Report 2022, Asia Pacific held the world’s largest industrial robot market, such that in 2021, 73% of the newly deployed robots were installed in Asia Pacific. The dense population and the growth in per capita income, along with large-scale industrialization and urbanization, will create lucrative opportunities for the players in the common-mode chokes market.

Key players

Major vendors in the common-mode chokes market include Eaton (Ireland), TDK Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), Schaffner Holding AG (Switzerland), and YAGEO Group (Pulse Electronics) (Taiwan) among others.

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Speech and Voice Recognition Market worth $28.1 billion 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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AI in Manufacturing Market worth USD 16.3 billion by 2027, at a CAGR of 47.9%

 

According to a research report "Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Industry, Application, Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision), & Region - Global Forecast to 2027" published by MarketsandMarkets, the global Artificial Intelligence in Manufacturing market size is projected to grow from USD 2.3 billion in 2022 to USD 16.3 billion by 2027, it is expected to grow at a CAGR of 47.9% from 2022 to 2027.

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The key factors contributing to the growth of artificial intelligence in manufacturing market include improving computing power of AI chipset and increasing venture capital investments in manufacturing AI space. However, increasing venture capital investments in manufacturing AI space is hindering the growth of artificial intelligence in manufacturing market. Limited availability of skilled workforce, especially in developing countries possesses a huge challenge to the industry. However, growing focus on boosting operational efficiency of manufacturing plants is the biggest opportunity in the market space with Asia Pacific having the highest market share and CAGR for the forecast period.

Development of sophisticated hard and soft sensors to boost growth of context-aware computing segment

By using context awareness technology, a control system called Manufacturing Execution System (MES) is designed for managing and monitoring works in a factory, which is based on the dynamic and complex production process in the manufacturing plant. The context-awareness architecture establishes the dynamic interaction properties of the system more thoroughly and guides object specification and abstraction tasks in machine language. This technology provides computing environments with the ability to learn and adopt the context by sensing through different sensors and automatically provides feedback to the user. This service makes the operator attentive, responsive, and predictive. In the manufacturing plant, the production quantity varies on many uncertain factors, including internal and external factors such as random orders, sudden equipment fault, supply modification, and runtime restriction. Context-aware technology finds customized solutions and arranges the machines accordingly for the issues mentioned above. Siemens (Germany) and General Motors (US) use context awareness technology in their plants. Additionally, context-aware information distribution may offer substantial value to industries. It provides task-relevant information or services to users on a manufacturing shop floor, improving decision-making through context-driven recommendations.

Asia Pacific exhibit the highest CAGR during the forecast period

APAC is likely to be the highest contributor in terms of market size and growth rate in the overall AI in manufacturing market during the forecast period. This market in APAC is further divided into China, Japan, South Korea, India, and Rest of APAC (RoAPAC). RoAPAC includes Singapore, Malaysia, Thailand, Australia, and New Zealand. Among all the countries in APAC, China held the largest share of the AI in manufacturing market in 2021.

APAC, led by China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge amount of data. This data is used in deep learning algorithms to further train the robots. This would act as one of the major drivers for the AI in manufacturing market in APAC. APAC is also considered to have the most number of manufacturing plants in the world. There are a few dark plants in China, where only robots work without any human intervention. AI implementation can make robots smarter, reduce the downtime of machines, and increase productivity.

Advancement in deep learning and supervised learning manufacturing industry to drive growth of AI in manufacturing market for machine learning

Machine learning (ML) enables systems to improve their performance automatically with experience. ML helps develop a computer program/algorithm that can access data and use it to train itself without human intervention. ML is adopted to deal with large volumes of data. The time previously dedicated to analyzing charts and spreadsheets is now being utilized to seek intelligent ways to automate data analysis. ML includes various technologies, such as deep learning, supervised learning, unsupervised learning, and reinforcement learning.

Extensive use of big data in production planning to fuel market growth

Production planning is a process that combines and transforms various resources used in the production system in a manufacturing plant. The AI system executes the interrelated operational activities involved in the manufacturing processes. The deep learning-based algorithm uses many functions such as Programme Evaluation Review Technique (PERT)/Critical Path Method (CPM) to optimize the production planning under various conditions. The use of AI in production planning leads to the standardization of product and process sequence, dedicated special-purpose machines having higher production capacities and output rates, short production cycle time, perfectly balanced production lines, faster flow of materials, and easy material handling.

The key players operating in the artificial intelligence in manufacturing market NVIDIA (US), IBM (US), Intel (US), Siemens (Germany), General Electric (US), Google (US), Microsoft Corporation (US), and Micron Technology (US). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

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Compound Semiconductor Market Worth $55.8 billion by 2027, at a CAGR of 6.6%

 

The report "Compound Semiconductor Market by Type (GaN, GaAs, SiC, InP), Product (LED, Optoelectronics, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Consumer Devices, Power Supply) & Region - Global Forecast to 2027" The global compound semiconductor market size is estimated to be USD 40.5 billion in 2022 and is projected to reach 55.8 billion by 2027, at a CAGR of 6.6% during the forecast period. Increasing use of compound semiconductors in LED applications and the rising demand for high-speed and advanced devices in datacom applications play a key role in driving the growth of compound semiconductor market in near future.

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Increasing use of GaN in general lighting, signage, and automotive applications to drive GaN segment

GaN is used in various applications, such as power drives, radio frequency, lighting and lasers, and supplies and inverters, which can be adopted in different verticals, including automotive, telecommunications, consumer display and devices, military, defense and aerospace, and datacom. One of the other major driving factors for the GaN material is the massive demand from the RF semiconductor device industry. The RF industry started its quest for alternate semiconductor materials. Owing to its ability to deliver high power amplification at high-frequency ranges, GaN semiconductor devices penetrated the RF power semiconductor device industry, bolstering its growth.

Telecommunication segment dominates the compound semiconductor market

The growth of telecommunication application is driven by increasing demand for RF devices. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, it is necessary to use a power amplifier manufactured with a compound semiconductor technology, which is expected to drive market growth during the forecast period. Skyworks Solutions, Inc. focuses on launching RF-based devices, planning to conquer the opportunities in the telecommunications sector. Similarly, NXP Semiconductors N.V. plans to invest in 5G and wireless infrastructure markets with its leadership in GaN, LDMOS, and 5G mm-Wave.

North America accounted for the second largest share of the compound semiconductor market

The market in North America is expected to grow at the second highest CAGR during the forecast period. The growing electric and hybrid vehicle market in North America is expected to support the growth of the compound semiconductor market. North America is a regional hub for many renowned OEMs that deliver quality and high-performance vehicles. OEMs in North America, such as Tesla and GM, focus on developing faster, cleaner, and high-performance electric vehicles

Nichia Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), ams OSRAM AG (Austria), Qorvo, Inc. (US), Skyworks Solutions, Inc. (US), Wolfspeed, Inc. (US), GaN Systems (Japan), Canon Inc. (Canada), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), are some of the key players in the compound semiconductor market.

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