Human Machine Interface Market expected to reach $5.6 billion by 2025

 

The report "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2025", was valued at USD 4.3 billion in 2020 and is expected to reach USD 5.6 billion by 2025, at a CAGR of 5.2% over the forecast period. Factors that drive the growth of the market include the surging adoption of industrial automation in the manufacturing sector, the evolution of industrial internet of things (IIoT), growing demand for smart automation solutions, and rising need for efficiency and monitoring in manufacturing plants.

• Informational PDF Brochure :-
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Browse 104 market data Tables and 59 Figures spread through 174 Pages and in-depth TOC on "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2025"

Configuration-wise, embedded HMI segment to dominate HMI market during forecast period

The human machine interface market for embedded HMI is expected to hold the largest share of the market by 2025. Embedded HMIs offer an integrated environment which is much simpler and user-friendly. These HMIs help to significantly enhance efficiency, which has favored their adoption among end users. Hence, the embedded HMI market is expected to witness notable growth throughout the forecast period. Embedded HMIs are combined with powerful hardware and software platforms to use device capabilities to their fullest extent. Furthermore, a connected embedded platform is a part of an intelligent system; it is connected to a network that enables easy communication between two machines and provides easy access to the operator.

Offering-wise, software segment to capture highest CAGR during forecast period

HMI software allows operators to interact, manage, and operate a system while also allowing the acquisition of data for processing. HMI software includes configuration software, data acquisition software, data analysis software, monitoring and controlling software, and programming software. The HMI software segment has been further divided into on-premise HMI solutions and cloud-based HMI solutions. Manufacturing companies are increasingly adopting advanced technologies, such as cloud-based solutions, to gain a competitive advantage by improving the efficiency of manufacturing processes, which is encouraging the adoption of more scalable and flexible HMIs.

Process industry-wise, pharmaceuticals segment is anticipated to register highest CAGR from 2020 to 2025

The pharmaceuticals industry discovers, produces, and markets drugs and medicines across the world.  Pharmaceutical companies need better control over operations to keep pace with the innovations taking place in the industry. Maintaining safety, consistency, and efficiency in manufacturing processes is the basic requirement of the pharmaceuticals industry to ensure that products are of the highest quality. Thus, pharmaceutical companies are using HMI solutions to minimize downtime, reduce cost of operations, and gain process visibility.

HMI market in APAC to grow at highest CAGR from 2020 to 2025

The human machine interface market in APAC is expected to grow at the highest CAGR from 2020 to 2025. The adoption of HMI solutions in APAC is high due to the burgeoning growth of the manufacturing sector in the region. Various industries are shifting their manufacturing bases in APAC to capitalize on the availability of skilled, cheap labor in the region, which has transformed it into a major manufacturing hub. The process and discrete manufacturing industries present in the region are progressively adopting automated technologies, which is one of the major factors driving the growth of the HMI market in APAC.

Notable companies present in the APAC human machine interface market include Advantech Co, Ltd (Taiwan), Emerson Electric Co. (US), General Electric (US), Honeywell International, Inc (US), Mitsubishi Electric Corporation (Japan), Schneider (Europe), and Yokogawa (Japan).

About MarketsandMarkets™

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

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Biometric System Market expected to reach $68.6 billion by 2025

 

The report "Biometric System Market with COVID-19 Impact by Authentication Type (Single-Factor: Fingerprint, Iris, Face, Voice; Multi-Factor), Offering (Hardware, Software), Type (Contact-based, Contactless, Hybrid), Vertical, and Region - Global Forecast to 2025", is expected to grow from USD 36.6 billion in 2020 to USD 68.6 billion by 2025; it is estimated to grow at a CAGR of 13.4% during the forecast period. The major factors driving the market include the increasing use of biometrics in consumer electronic devices for authentication and identification purposes, the growing need for surveillance and security with the heightened threat of terrorist attacks, and the surging adoption of biometric technology in automotive applications.

• Informational PDF Brochure :-
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Browse 110 market data Tables and 48 Figures spread through 211 Pages and in-depth TOC on "Biometric System Market with COVID-19 Impact by Authentication Type (Single-Factor: Fingerprint, Iris, Face, Voice; Multi-Factor), Offering (Hardware, Software), Type (Contact-based, Contactless, Hybrid), Vertical, and Region - Global Forecast to 2025"

“Multi-factor authentication are expected to to be the fastest-growing market for biometric system market during the forecast period”

The growing demand for multi-factor authentication is attributed to the rising need for additional security against the theft of sensitive data, especially in government and defense verticals. Combining multiple identifiers adds an extra level of protection, making the system more effective, accurate, and reliable. In addition, a multimodal biometric system can reduce the failure to enroll (FTE) and failure to capture (FTC) rates. The rapid development of biometric smart cards for payment and identification purposes is expected to drive the growth of the multi-factor authentication segment.

“Hybrid biometric system market is expected to be the fastest-growing segment during the forecast period”

The highest CAGR of hybrid biometric systems is attributed to the increasing adoption of efficient and reliable biometrics. Multimodal biometric solutions offer enhanced safety against spoofing or forgery through multi-level authentication. In addition, many countries, such as the US, India, and the UK, have adopted multimodal authentication systems (a combination of two or three biometric modalities, using contact-based or contactless systems) for security checkpoints at country borders due to the heightened threat of terrorist attacks.

“RoW to be the fastest-growing market for biometric system during the forecast period”

The biometric system market in RoW has been further segmented into the Middle East & Africa and South America. The Middle East is one of the fastest-growing economies in the world in terms of infrastructure, electronics industry, and other technological advancements. The growth of the biometric system market in the Middle East & Africa can be attributed to their unique geographic location, airport hubs, and increasing passenger traffic. The government sector is the primary investor in the biometric system market in the Middle East, mainly for the national ID projects; the banking sector is another major contributor to market growth in the region. The adoption of biometrics technology in other sectors such as residential and commercial security, healthcare, and travel & immigration is comparatively low, but it is expected to increase in the next few years.

Major companies involved in the development and supply of biometric system are Thales (France), Safran (France) , NEC (Japan), ASSA ABLOY (Sweden), and Fujitsu (Japan).

About MarketsandMarkets™

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

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Edge AI Hardware Market Shipment to reach 1559.3 million units by 2024

 

The report "Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearables, and Smart Mirror), Processor (CPU, GPU, ASIC and Others), Power Consumption, Process, End User Industry, and Region - Global Forecast to 2024", The edge AI hardware market is expected to register a shipment of 610 million units in 2019 and is likely to reach 1559.3 million units by 2024, at a CAGR of 20.64% during the forecast period. Major drivers for the market’s growth are growing demand for low latency and real-time processing on edge devices and emergence of AI coprocessors for edge computing. Further, underlying opportunities for the edge AI hardware market include growing demand for edge computing in IoT and dedicated AI processors for on-device image analytics. Major restraints for the market are limited on-device training and limited number of AI experts. Power consumption and size constraint pose major challenges to the edge AI hardware market.

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Intel Corporation (US), NVIDIA Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Google Inc. (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), Imagination Technologies Limited (UK), and Microsoft Corporation (US) are a few major players in the edge AI hardware market.

Browse 94 market data Tables and 53 Figures spread through 213 Pages and in-depth TOC on "Edge AI Hardware Market - Global Forecast to 2024"

In Term of Device Type, the Market for Cameras is Expected to Grow at the Highest CAGR During the Forecast Period in the Edge AI Hardware Market

Cameras have been an integral part of various smart devices with Wi-Fi support, smart functions, superior speed, and enhanced performance for years. However, cameras as standalone smart devices with vision processing units (VPU) that help deliver power-efficient solutions for vision and artificial intelligence are now entering the market. Such devices are designed to run deep neural networks at high speed and low power without compromising on accuracy, which enables devices to see, understand, and respond to their environment in real time. The VPU market is constantly witnessing advancements. For instance, the previous-generation Myriad 2 VPU developed by Movidius offered deep neural network support at relatively low power. The new Myriad X VPU (introduced by Intel (US) in August 2017), however, can achieve roughly 10X better performance; with multiple neural networks running simultaneously, to offer extended autonomous capabilities across wide range of applications such as drones, robotics, VR, and smart cameras. Due to developments like these, the market is witnessing an influx of cameras powered by AI chips that allow these devices to judge moment’s best suited to capture stills or videos.

Smartphones is Expected to Hold the Largest Market for Edge AI Hardware

Dedicated AI chip or AI processors were one of the major developments in the smartphone technology last year. Increasing demand for real-time speech and voice recognition and analysis, as well as technical advancements in smartphone image recognition is driving the market for AI processors in smartphones. A majority of AI processors have an additional inbuilt Neural Processing Unit (NPU) that can handle significant amounts of parallel processing, uses low power, and is capable of cognitive tasks. Till date, most AI-related processing like prediction, detection, pattern matching, and classification tasks on mobile apps and assistants take place primarily in the cloud. However, with AI processors built in a phone, these AI tasks could be carried out right on the device, even without any connectivity; this would not only improve performance of the device, but also reduce strain on the battery. The AI features in smartphones at present are mainly focused on imaging and photography, power efficiency and security

In APAC, China is the Largest Contributor for Edge AI Hardware Market in Terms of Market Share

Currently, China is undertaking many projects, especially in the infrastructure sector, such as rail, airport, stadiums, and highway systems that are expected to require high-definition surveillance systems, which can capture clear images even in darkness. China is home to video surveillance players such as Dahua (China) and Hikvision (China) that dominate the video surveillance hardware market. Both Hikvision and Dahua have already launched deep learning surveillance cameras in the market. China has already started deploying cloud AI based surveillance cameras to monitor its citizens. This development will lead to adoption of edge AI in surveillance cameras. China is among the highest spenders on the manufacturing sector in APAC. The manufacturing sector in China is growing rapidly, resulting in the introduction of new robotics and big data technologies. In addition, China, being a global manufacturing hub, holds immense potential for the automotive industry. These factors are expected to fuel the growth of the edge AI hardware market in China as AI is increasingly being used in the country’s automotive and transportation sectors.

About MarketsandMarkets™

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

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Digital Signage Market worth $29.6 billion by 2024 growing with a CAGR of 7.3%

 

According to the new market research report on the "Digital Signage Market by Offering (Hardware (Displays, Media Players, Projectors), Software, Services), Product, Application, Vertical (Retail, Transportation & Public Places, Sports & Entertainment, Education), and Geography - Global Forecast to 2024", The digital signage market is expected to grow from USD 20.8 billion in 2019 to USD 29.6 billion by 2024, at a CAGR of 7.3%. Growing technological advancements in display products, increasing adoption of digital signage products in commercial vertical, rising demand for 4K & 8K displays, and increasing infrastructural developments in emerging countries are the major driving factors for the market’s growth during the forecast period.

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Key players in the market include Samsung Electronics (South Korea), NEC Corp. (Japan), LG Electronics (South Korea), Sharp (Foxconn) (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Scala (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Deepsky Corporation (Hong Kong), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan).

Browse 63 market data Tables and 56 Figures spread through 190 Pages and in-depth TOC on "Digital Signage Market - Global Forecast to 2024"

Growing smart signage applications, increasing retail space worldwide, rising demand for context-aware signage, and increasing transition of traditional stores to smart stores in the retail vertical expected to offer high growth opportunities in the near future.

Software to witness highest growth rate for digital signage market during the forecast period

The current and future markets would be greatly driven by software than hardware. The increased innovation in the field of software adds to technological advancement and ease of use in digital signage solution. The estimated growth rate of the digital signage market for software is higher than hardware; hardware devices are not frequently purchased because they have a long operational life. The market for software is growing at a higher pace as software licenses need to be purchased and upgraded at regular intervals.

Commercial vertical is expected to dominate digital signage market (in terms of share) during the forecast period

The commercial vertical of digital signage comprises retail; corporate and broadcast; healthcare; hospitality; and government, command and control centers with applications across hotels, hospitals, quick service restaurants (QSRs), and malls, among others. Digital signage helps attract a large group of customers through effective advertising and promotion . The growth of the commercial vertical is attributed to the rising adoption of digital signage products for advertising and content delivery to increase the customer base and enhance consumer satisfaction.

“Transportation and public places industry to witness highest CAGR during forecast period”

Transportation signage systems are typically integrated with different technologies such as databases that can maintain travel schedules and reservation information on a real-time basis. The transportation vertical requires large screen display devices at public places such as railway stations, airports, and highways. Large screen displays show information in a more effective way than conventional signage boards. Railway stations and airports require large display panels to communicate with passengers. The new displays have highly attractive features such as live video streaming and high brightness while interacting with customers or passengers. Digital signage provides travelers with vital information regarding schedules and timings of arrivals and departures of trains and flights. Timely updates, along with proper information regarding schedules and timings of transport facilities, help enhance the customer experience, which is a major driving force for the growth of this market for transportation.

North America accounted for the largest share of the digital signage market

North America is considered to be the strongest market for digital signage. North America, being technologically advanced and developed, is a pioneer market for the cutting-edge technology used in the advertisement vertical including digital signage and smart signage. The digital signage market in North America is driven by various factors such as the high standard of living of customers and the need for accuracy and efficiency in retail services. North America accounted for the largest share of the global digital signage market. This is mainly due to the growing awareness regarding the benefits of digital signage and the increasing demand for commercial displays.

About MarketsandMarkets™

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

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Best Virtualization Software for 2020 - Best Released by 360Quadrants

 

Virtualization refers to the formation of a virtual computing resource like a computer, server, or other hardware modules, or a software-based resource like an operating system. The most popular example of virtualization is separating a hard disk through OS installation, where the physical hard drive is divided into numerous logical disks to offer superior data storage and recovery (a type known as 'data virtualization').

Virtualization is the concept of IT resources that hides the physical environment and boundaries of those resources from users.

• More Information :- https://www.360quadrants.com/software/virtualization-software

Market Overview

The Virtualization Software Market is projected to reach US $ 33.76 billion by 2025, at a compound annual growth rate (CAGR) of 15.2%. Virtualization supports in improved recovery of enterprises throughout man-made or natural disasters. It permits for different and fewer hardware at the disaster recovery site. Therefore, it enables easier failover and recovery.

The best virtualization software market is likely to gain from the move that the organizations are making to cut energy consumption, enhance hardware efficiency, and improve sustainability with the help of virtualization.

According to Spiceworks, application virtualization is likely to witness the highest growth among virtualization technologies with implementation projected to increase from 39% in 2019 to 56% by 2021. As compared to small businesses, double as many enterprises have implemented application virtualization.

The ease of handling the IT infrastructure and its elements, both hardware and software, has improved the usage of virtualization solution among the end-users. The advent of cloud services has further enhanced the best virtualization software applications in the hardware virtualization segment. Communication and networking needs have increased the demand for network virtualization in the worldwide market.

The network virtualization market is likely to get more attention from the solution providers with the emphasis on 5G introduction in services, throughout the world. Broadband, fiber network, and other comparable network related solution offer a new prospect for the players in the market.

Owing to the outbreak of COVID 19 pandemic, many companies are urging employees to work from home, which is turning out to be useful for the vendors. This is possible due to rising number of customers and organizations are approaching to these vendors for guidance and support, to allow secure remote-work initiatives, that makes sure the safety and productivity of their employees and to preserve ongoing business operations during this emerging global crisis.

For example, from past few weeks, Citrix has published remote work best-practices and examples from customers across the globe using its virtualization and workspace software solutions to ensure safe and reliable remote access to the software applications.

Storage Virtualization to expand at a substantial rate

Virtualizing the storage has become obligatory, since many enterprise resources are decentralizing and rising in volume. It is also known virtual SAN or Software Defined Storage.

Storage virtualization can permit many storage units to be merged in one. Moreover, it can eliminate any physical storage in view. It is supportive for the organizations, that pay extra in hardware or for the companies who cannot meet SLA, owing to lack of storage facilities.

As per DOMO's Data Never Sleeps 6.0 Report, Amazon dispatched around 1,111 packages per minute, the Weather Channel collected nearly 180,55,555 forecast requests per minute, and Google performed approximately 38,77,140 requests per minute in 2018. To store the growing amount of data, hardware devices are insufficient.

Storage virtualization products, like IBM's SAN Volume Controller (SVC) and Hitachi Data Systems Corp.'s USP V, state to virtualize various types and brands of storage systems, making them possibly helpful to companies that have undertaken a merger or acquisition.

The market for the best virtualization software is mainly dominated by key players, like VMware, Oracle, and Microsoft, which provide virtualization software utilized by all large and small enterprises. Collaborations, like Dell with Microsoft and VMware, permit easier IT operations.

March 2020 - Microsoft has declared the acquisition of Affirmed Networks, a startup that provides fully virtualized, cloud-native mobile network software solutions. Microsoft intends to combine Affirmed Networks’ technology into Microsoft Azure to allow the telecommunications business implement and maintain 5G networks through the cloud instead of just hardware and software.

December 2019 - Red Hat, Inc., revived the FIPS 140-2 security validations for Red Hat Enterprise Linux 7.6. Determined by the NIST (National Institute of Standards and Technology), FIPS 140-2 is a computer security standard that identifies the needs for cryptographic modules. Red Hat Virtualization also uses the FIPS 140-2 re-validated cryptography component.

Filtration and Contamination Control Market worth 39.73 Billion USD by 2022

 

According to the market research report "Filtration and Contamination Control Market by Filtration Type (Liquid, Air), Customer Type (Aftermarket, OEM), Application (Engine, Industrial Machinery, Oil and Gas, Aerospace, Gas Turbine, Power Generation), and Geography - Global Forecast to 2022", the filtration and contamination control market is expected to reach USD 39.73 Billion by 2022, at a CAGR of 5.13% between 2017 and 2022. The growth of this market is attributed to the increasingly restrictive environmental regulations across the globe, steady demand for filtration across on-road and off-road vehicles, and requirement of higher efficiency performance among mechanical equipment and factory processes.

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Major players in the global filtration and contamination control market are MANN+HUMMEL Holding GmbH (Germany), Donaldson Company, Inc. (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Pall Corporation (U.S.), Clarcor Inc. (U.S.), Filtration Group Corporation (U.S.), Eaton Corporation plc (Ireland), HYDAC International GmbH (Germany), and CECO Environmental Corp. (U.S.).

Browse 66 market data tables and 59 figures spread through 150 pages and in-depth TOC on "Filtration and Contamination Control Market - Global Forecast to 2022"

The market for liquid filtration expected to grow at the highest rate during the forecast period

The global filtration and contamination control market for liquid filtration is expected to grow at the highest rate during the forecast period. Liquid filtration is used in almost every industry for the purification of solid–liquid and liquid–liquid raw materials to improve the quality of products. The dependency of vast end-user application areas on liquid filtration systems to remove the contaminants and improve the equipment lifespan and performance is the prime reason for the huge adoption of liquid filtration.

Aftermarket customer type held the largest share of the filtration and contamination control market in 2016

Aftermarket customers accounted for the largest share of filtration and contamination control products in 2016 across all the industries. The market is expected to be driven by the high rate of deployment of replacement filters, especially across automobiles, chemical and petrochemical refineries, oil & gas, and process industries.

The market for industrial application segment estimated to grow at the highest rate during the forecast period

The industrial application segment is currently analyzed as the largest consumer of filtration devices, and related engineering products and services. This segment sees high growth potential across industrial machinery, oil & gas, aerospace, gas turbine, power generation, semiconductor, and paints and coatings, among other industries. Among these industrial applications, the industrial machinery application is estimated to lead the industrial filtration market, in terms of market share, owing to the high rate of deployment and diffusion of filtration devices across chemical and petrochemical refineries.

North America held the largest market share in 2016

North America held the largest share of the filtration and contamination control market in 2016, followed by Europe and APAC. The growth of the North American market is driven by the presence of key manufacturers of filtration products, such as Donaldson Company, Inc. (U.S.), Pall Corporation (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Filtration Group Corporation (U.S.), and Clarcor Inc. (U.S.). Additionally, the adoption of cleaner fuels due to stringent policies on environmental emissions, strong demand from oil & gas and aerospace industries, and continuous upgradations in the power generation sector are expected to drive the growth of the market in North America. The U.S. held the largest share of the North American filtration and contamination control market.

About MarketsandMarkets™

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

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Robotic Process Automation Market worth $2,467.0 million by 2022

 

The report "Robotic Process Automation Market by Process (Automated solution, Decision Support & Management Solution, and Interaction Solution), Operation (Rule Based and Knowledge Based), Type (Tools and Services), Industry, and Geography - Global Forecast to 2025", Robotic Process Automation (RPA) Market is estimated to reach USD 2,467.0 million by 2022, at a CAGR of 30.14% between 2017 and 2022.

• Informational PDF Brochure :-
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Browse 69 market data Tables and 66 Figures spread through 146 Pages and in-depth TOC on "Robotic Process Automation Market - Global Forecast to 2022"

The growth of this RPA market is mainly driven by the ease in business processes with the installation of robotic process automation; and convergence of robotic process automation with traditional business processes. Moreover, integration of new technologies such as artificial intelligence (AI), and cognitive systems with robotic process automation; and high demand of robotic process automation (RPA) in logistic industry are few major opportunities for robotic process automation market

Robotic process automation market for healthcare and pharmaceuticals will likely to grow at the highest CAGR during forecast period

The robotic process automation market for the healthcare and pharmaceuticals industry is expected to grow at the highest CAGR during forecast period. The healthcare and pharmaceuticals industry is highly information-dependent, as it involves medical records of patients, credentials of patients, information on claims processing, revenue cycle management, etc. In this regard, robotic process automation not only helps reduce operational costs but also ensures greater accuracy. The interactive solutions offered by robotic process automationhelp efficiently manage data, reduce medical transportation costs, lower appointment scheduling errors, and so on.

Robotic process automation tools expected to hold the largest market size of the overall robotic process automation market

Robotic process automation tools held the largest market size in 2018 owing to its capability of eliminating repeatable and predictable human interactions with business applications by mimicking the way people interact with applications through a user interface and also by following simple rules to make decisions. Tool-based lifecycle management can be divided into requirement definition, initial design, application development, testing, deployment, and release and maintenance. It also involves tracking and documenting changes throughout the process of the application.

North America is expected to dominate the robotic process automation market during forecast year

The robotic process automation market for North America held the largest market size in 2018 and is expected to dominate the market during forecasted period. In the US, BFSI has been leveraging robotics process automation to improve business processes since 2010. Due to the high degree of flexibility and scalability of the solution, as well as greater data processing and workflow management capabilities, there is widespread deployment of robotic process automation in the BFSI space. The growth of robotic process automation in Canada is driven by the ramp-up of the banking and financial industry. Human resource outsourcing, business process outsourcing, and contact center outsourcing have seen tremendous growth in Canada in recent times. The growth of the RPA market in Mexico is driven by the booming manufacturing industry. New factories and manufacturing units are being built in Mexico, requiring proper supply chain management to be implemented to reduce costs. Inventory management, purchase order, stocking goods, and economic order quantity management require automated processes—backed by software bots.

Benefits of Robotic Process Automation (RPA) in various industries

The RPA market report profiles the most promising players in the RPA market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of players. Nice Systems Ltd. (Israel), Automation Anywhere (US), Blue Prism Group Plc (UK), Celaton Ltd. (UK), IPSoft, Inc. (US), Pegasystems Inc. (US), Redwood Software (US), UiPath SRL (UK), Verint Systems Inc. (US), and Xerox Corporation (US) are few dominant players in the robotic process automation market.

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