Rising demand for 3D sensing-enabled consumer electronics - 3D Sensor Market

 

The 3D sensor market size is estimated to be USD 2.7 billion in 2021 and is projected to reach USD 9.4 billion by 2026; it is expected to grow at a CAGR of 28.1% from 2021 to 2026. Although 3D sensors have been in existence for a long time, the market for 3D sensors is growing owing to factors such as the rising demand for 3D sensing-enabled consumer electronics, increasing demand for medical imaging solutions, growing penetration of image sensors in automobiles, and surging requirement of security & surveillance systems.

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Infineon Technologies AG (Germany), OmniVision Technologies, Inc. (US), Sony Corporation (Japan), Cognex Corporation (US), Lumentum Operations LLC (US), ifm electronic gmbh (Germany), Intel Corporation (US), KEYENCE CORPORATION. (Japan), LMI Technologies Inc. (Canada), Microchip Technology Inc. (US), II-VI Incorporated (US), AIRY3D (Canada), ASUSTeK Computer Inc. (Taiwan), CronAI (UK), Leuze electronic GmbH + Co. KG (Germany), Mantis Vision ltd. (Israel), Melexis NV (Belgium), Microsoft (US), Occipital, Inc. (US), Orbbec 3D (US), Panasonic Corporation (Japan), Qualcomm Technologies, Inc. (US), Quanergy Systems, Inc. (US), Samsung (South Korea), and SICK AG (Germany) are among the many players in the 3D sensor market.

Infineon Technologies was ranked first in the 3D sensor market in 2020, with ~15–17% market share. The company markets its products to the automotive, industrial, communications, and consumer and security electronics sectors across the Americas, Europe, the Middle East, and Asia Pacific (APAC). The 3D image sensors manufactured by the company are based on the ToF technology, in which a 3D camera projects modulated infrared light on the targeted object. It helps measure the brightness and location of an object. Infineon has been mainly focusing on collaborations with other companies for developing new 3D sensor products. The company has collaborated with pmd technologies for the development of depth sensors based on ToF technology for applications such as gaming, e-commerce, and other immersive experiences. Infineon has also worked with Qualcomm for the development of 3D authentication in Qualcomm’s Snapdragon 865 platform.

OmniVision Technologies held the second position in the 3D sensor market in 2020, with ~12–14% market share.  With more than 2,000 employees worldwide and over 10 billion products shipped, it is one of the known leaders in the global CMOS image sensor market. It is the only image sensor company that serves every imaging market segment worldwide. OmniVision’s products are used in medical imaging, automotive in-cabin and outside sensing, security and smart homes, IoT, mobile, and computing, and various other industrial applications. The company is targeting a broad range of applications across medical imaging, as well as in the dental, veterinarian, and industrial markets. In the dental imaging market, OmniVision has opportunities in 3D scanners and camera-enabled dental tools such as dental mirrors. The company is immensely focused on partnerships and collaborations strategies to drive growth in the 3D sensor market.

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3D Sensor Market with COVID-19 Impact, by Type (Image Sensors, Position Sensors), Technology (Time of Flight, Structured Light), End-use Industry (Consumer Electronics, Industrial Robotics, Automotive), and Region, Global Forecast to 2026

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Speech and Voice Recognition Market expected to reach $28.1 billion by 2027

 

According to MarketsandMarkets, the speech and voice recognition market is projected to grow from USD 9.4 billion in 2022 to USD 28.0  billion by 2027, at a CAGR of 24.4 % from 2022 to 2027. Major factors driving the growth of the speech and voice recognition market include increasing demand in healthcare for improving efficiency and the growing use of smart appliances.

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Based on the technology speech and voice recognition market has been segmented into speech recognition and voice recognition. Speech recognition is dominating the speech and voice recognition market. It accounts for the largest market share in 2021. The elevating adoption of speech-enabled consumer electronics devices, including smart home devices, mobile devices, and wearable devices, is expected to result in the rapid growth of the speech recognition market in the coming years. Automatic speech recognition (ASR) technology is expected to dominate the speech recognition market throughout the forecast period.

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Based on the deployment mode the speech and voice recognition market has been segmented into On-cloud and on-premises/embedded. The on-premises/embedded segment is expected to witness a higher growth rate owing to the rising adoption of on-premises speech and voice recognition solutions by financial institutions and enterprises for multifactor authentication and keep consumer data highly secure.

speech and voice recognition systems are deployed across numerous verticals including automotive, enterprise, consumer, banking, financial services, and insurance (BFSI), government, retail, healthcare, legal, education, military, and others (aerospace, utilities, and travel & tourism) verticals. The speech and voice recognition market for the consumer vertical is expected to grow at the highest rate during the forecast period. The introduction of voice-based smart devices in the consumer sector has led to the launch of many innovative products in the market.

The continuous decline in the cost of voice and speech devices such as mobile phones, computers, and smart speakers, and the constant development in voice and speech recognition software also drive the market for speech and voice recognition technologies. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.

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Revenue in European smart home market is projected to reach US$41.2 bn in 2027

 

The European smart home market will have a market size of 26.7 USD billion and this market size will increase up to 41.2 USD billion by the end of the forecast period i.e., by 2027 with a growth rate of 9.0%. The key aspects to the growth of this market are driven by a few factors including growing internet access in European region, rising need for energy saving and low-carbon emission-oriented solutions, increasing number of manufacturers expanding their smart home product portfolios, ongoing proliferation of smartphones, surging importance of home monitoring, and increasing safety, security, and convenience offered by smart home products are driving need for them.

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For the product segment of European smart home market, entertainment & other controls hold the largest market share for European smart home market in 2021. The growth of the entertainment & other controls market is driven by the convenience offered by these controls for managing and controlling the entertainment systems within a house. The advancements in wireless communication technologies are a significant factor boosting the growth of the home theater system control market, thereby driving the overall European smart home market for entertainment and other controls. Entertainment has become an important part of life as it provides relaxation and rejuvenation.

The most important feature of entertainment control is its ability to integrate multi-room entertainment systems. Audio and video systems can be integrated through wires or wirelessly with personal computers/laptops, CD/DVD players, smartphones, satellite radios, or portable music players to enable access to videos/movies and audio collection from any part of the home. Audio and volume controls are used to regulate and control the sound of the music systems and home theaters. Multimedia room controls comprise audio and video systems, theaters, and cinema room installations. Touchscreens and keypads are mainly used to control the audio-video systems in homes. Therefore, a host of controllers are used to control and regulate entertainment systems in homes.

Under the segmentation of software & service for European smart home market, the behavioral software are expected to contribute maximum towards the market share during 2022 to 2027, i.e., the forecast period. The behavioral segment of the European smart home market is projected to reach USD 5.3 billion by 2027, holding the largest market share in the software segment; it is expected to grow at a CAGR of 13.0% from 2022 to 2027. Increasing awareness among users in European countries regarding controlling and managing energy consumption is also leading to a rise in demand for behavioral software and services in the region.

This has also led to an increase in innovations pertaining to connected devices and smart homes in several countries, including France, Italy, and Spain. With increasing awareness about energy saving among end users in Europe, the companies offering smart home-related software and services are expected to witness an increased penetration of their smart home technologies in the region. Behavioral software and algorithms are limited to delivering and receiving data and do not take intelligent activities such as the proactive types. Factors such as the growing connection between machine-to-machine solutions and the Internet of Things might be attributed to behavioral software and services' increased market share. The behavioral software and services provide individuals real-time access to their gadgets and insights into their energy usage habits, allowing them to make informed energy consumption decisions. The growing number of smart city projects and green building initiatives supported by European governments is likely to boost demand for behavioral software and services even more.

Under the market segmentation of sales channel for European smart home market comes direct sales channel and indirect sales  channel. In 2021, the indirect sales channel segment accounted for the larger share of the European smart home market. Indirect sales channels or third-party service providers hold a major share of the European smart home market. Most players in the market have strong sales channels and distribution networks to provide services to their end users. Indirect sales include selling smart home products through both online and offline modes. Offline sales channels comprise third-party cellular network carriers, wholesalers, retailers, and value-added resellers. Online sales channels involve sales through e-commerce platforms.

The COVID-19 pandemic resulted in a rise in the use of indirect sales channels. Due to lockdowns in various countries worldwide, people have started using online websites frequently, and their preference for online channels has increased post the outbreak of the pandemic. Subsequently, companies offer product setup and installation services that help users buy products online without hesitation. Moreover, third-party delivery providers have started taking extra precautions to encourage consumers to buy without reservations about getting infected.

The region wise segmentation of European smart home market depicts the maximum share of the European smart home market in the UK in the base year i.e., 2021. The UK is one of the early adopters of smart homes in Europe. Following regulations to ensure the safety of occupants in a building is mandatory in the UK. The government updates fire safety rules and laws—such as Regulatory Reform (Fire Safety)—from time to time to prevent fire accidents. Key fire protection product and service providers in the UK include Fire Suppression (UK) and Argus Fire Protection (UK). The UK has experienced a noticeable increase in the use of surveillance systems and is one of the world leaders in using video surveillance equipment on most premises. Major manufacturers in this segment are Crestron Electronics, Inc. (US), Snap One (US), Siemens (Germany), and Schneider Electric (France).

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Vibration Sensors Market valued at $3.0 billion after latest revenue impact report by MarketsandmarketsTM

 

The vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A couple of key variables driving the development of this market are developing reception of computerized condition checking innovations for the improvement of brilliant manufacturing plants, rising utilization of remote frameworks for machine condition observing, continuous progress from preventive to prescient support, and expanding interest for vibration sensors from arising applications.

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Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the central parts in the vibration sensors market. A large portion of the main organizations have involved item dispatches and improvements as key procedures to support their incomes.

Top 2 Market Players:

Baker Hughes Company (US) (Baker Hughes) engages in the provision of oilfield products, services, and digital solutions. The Digital Solutions fragment of the organization offers vibration sensors under the Bently Nevada brand. Bently Nevada, a Baker Hughes business, offers an expansive, comprehensive set-up of machine condition checking and insurance equipment, programming, and administrations. The organization has a worldwide presence in excess of 120 nations across the Americas, EMEA, and APAC.To fill in the vibration sensors market, the organization has fostered a wide arrangement of vibration sensors with various models for explicit applications. The organization has utilized IoT in its minimal and strong remote vibration sensors — Ranger Pro and condition-based checking framework — to further develop uptime, efficiency, and security. Officer Pro can be utilized to assemble significant machine wellbeing information from an expansive scope of hardware across different ventures, including power age, oil and gas, mining, mash and paper, and metal handling.

SKF (Sweden) is a manufacturer of machines and rotating equipment. It provides technical support, maintenance services, condition monitoring, asset efficiency optimization, engineering consultancy, and training services. The organization gives vibration sensors to machine condition checking frameworks in businesses like oil and gas, energy and power, food and refreshments, metals and mining, concrete, and paper and mash enterprises, among others. To fill in the vibration sensors market, the organization has embraced a blend of natural and inorganic development systems, for example, joint efforts and item dispatches. The organization expects to computerize vibration information assortment using remote vibration sensors, like SKF Enlight Collect IMx-1, to increments imperfection identification rates and keep away from impromptu machine closures. SKF can assist clients with improving pivoting gear execution through quicker and viable writing about the condition of parts and resources.

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Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025

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SCHOTT (Germany) and AMETEK, Inc. (US) are Leading Players in the Hermetic Packaging Market

 

The worldwide airtight bundling market size is supposed to develop from USD 3.5 billion out of 2020 to USD 4.3 billion by 2025 at a CAGR of 4.3%. The development of this market is credited to the rising utilization of airtight bundling for safeguarding exceptionally delicate electronic parts and expanding request from ventures like aviation and auto hardware.

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Key players in the hermetic packaging market include SCHOTT (Germany), AMETEK, Inc. (US), Amkor Technology, Inc. (US), Texas Instruments Incorporated (US), Teledyne Technologies (US), Kyocera Corporation (Japan), Materion Corporation (US), Egide (France), Micross Components Inc. (US), and Legacy Technologies Inc. (US). These players have adopted various growth strategies such as contracts, agreements, acquisitions, product launches, expansions, and partnerships to increase their presence in the global market.

SCHOTT (Germany)

SCHOTT is basically taken part in the turn of events and assembling of glasses and glass ceramics, specialty materials, parts, and frameworks in electronic bundling, high level optics, level glass, lighting and imaging, home tech, drug bundling, and tubing section. The organization's electronic bundling specialty unit creates and makes airtight seals and different parts for the drawn out insurance of delicate gadgets. This portion basically serves clients from an extensive variety of use showcases that incorporate car and energy, customer hardware, clinical innovation, and information and broadcast communications.

AMETEK, Inc. (US)

AMETEK manufactures electromechanical devices and electronic instruments for the global electronics and semiconductor market. AMETEK operates more than 150 facilities and 100 sales & service locations worldwide. The company’s major subsidiaries/brands include Coining Inc., Hermetic Seal Corporation (HSC), AMETEK Aegis, Sealtron, AMETEK SCP, and Glasseal Products, Inc.  HSC fundamentally plans and produces airtight fixed connectors, headers, pressure bulkheads, and feedthroughs. It gives glass-to-metal-fixed interconnection gadgets to many organizations associated with the protection, aviation, atomic, geophysical, and clinical fields. Additionally, AMETEK Aegis offers glass-to-metal-seal airtight bundles (stages, modules, and flatpacks) for the microelectronic business. Sealtron fabricates round airtight fixed connectors.

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Artificial Intelligence in Cybersecurity Market worth $38.2 billion by 2026

 

The report "Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Software, and Service), Deployment Type, Security Type, Technology (ML, NLP, and Context-Aware), Application (IAM, DLP, and UTM), End User, and Geography- Global Forecast to 2026", is projected to reach USD 38.2 billion by 2026 from USD 8.8 billion in 2019, at the highest CAGR of 23.3%. Major drivers for the market’s growth are growing adoption of IoT and increasing number of connected devices, rising instances of cyber threat, growing concerns of data protection, and increasing vulnerability of Wi-Fi networks to security threats. Furthermore, underlying opportunities for the AI in cybersecurity market include growing need for cloud-based security solutions among SMEs, and increased use of social media for business functions. Major restraints for the market are inability of AI to stop zero-day and advanced threats, and rise in insider cyber threats. Limited number of cybersecurity and AI professionals, and lack of interoperability with existing information systems pose major challenges to the AI in cybersecurity market.

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Cloud-based deployment type for AI in cybersecurity to grow at higher CAGR during forecast period

Cloud deployment type is expected to grow at a higher rate during the forecast period. Several businesses have already moved a part of their operations to the cloud, which has led security vendors to develop cloud-based solutions as the data to be protected is on the cloud. Migrating to the cloud has benefits such as enhanced flexibility, control, and scalability. Cloud deployment significantly reduces the capital investment that is required to implement cybersecurity solutions; this is among the major reasons for the increased demand for cloud-based cybersecurity from most enterprises.

Automotive and transportation to hold largest size of AI in cybersecurity market during forecast period

Of all the types of end users, automotive and transportation to hold the largest market size of the AI in cybersecurity market during the forecast period. In the automotive industry, Big Data poses a significant problem with connected car becoming more of a gadget than a purely physical product, constantly synced and updated. It now produces huge amounts of data. Combining machine learning with Big Data analytics presents an opportunity to make sense of the huge volumes of valuable data collected from vehicles, servers, and smart mobility services. Using machine learning, patterns of “normal” behavior can serve as baselines to identify anomalies from cyber threats and policy violations to vehicle and driver irregular behaviors.

North America is major contributor for AI in cybersecurity and is expected to hold largest market size in next 5 years

North America is among the major contributors to the AI in cybersecurity market, and the US accounted for the largest share of the market in North America in 2018. The global AI in cybersecurity market is dominated by North America as the region is an early adopter of AI. North America is an early adopter of innovative technologies as banks, government agencies, and financial institutes in this region face ever-increasing challenges related to cyber threats. Therefore, advanced technologies are implemented to manage the cyber security landscape. Moreover, several cybersecurity vendors are based in this region, thereby contributing to the growth of the AI in cybersecurity market in North America.

NVIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US), Samsung Electronics Co., Ltd (South Korea), Micron Technology, Inc. (US), IBM Corporation (US), Amazon Web Services, Inc. (US), Darktrace (UK),  Cylance Inc. (US), Vectra AI, Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US), Acalvio Technologies (US), SparkCognition Inc. (US), Palo Alto Networks Inc. (US), and Symantec Corporation (US) are a few major players in the AI in cybersecurity market

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Digital Signage Market expected to reach $27.8 billion by 2026

 

The report "Digital Signage Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Product, Display Size, Installation Location, Application (Retail, Healthcare, Hospitality, BFSI, Education), and Geography - Global Forecast to 2026" The global digital signage market will grow to USD 27.8 billion by 2026 (forecast year) from USD 16.3 billion in 2021 (estimated year), at a CAGR of 11.2% between 2021 to 2026. The key drivers fueling the growth of this market include the growing adoption of digital signage in commercial applications, increasing infrastructure developments in emerging countries, surging demand for 4K & 8K resolution displays, and ongoing technological advancements in displays.  

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The software segment to register higher CAGR during the forecast period

Technological advancements, rising need for real-time content delivery, and increasing applications of smart signage have led to the growth of the software segment of the digital signage market. The higher frequency of purchases and subscriptions associated with digital signage software due to various useful benefits offered by it complemented with the low purchasing frequency of hardware devices due to their long operational life is another major factor contributing to the growth of the software segment. Software licenses need to be purchased and upgraded at regular intervals, which is further expected to accelerate the market growth of software in coming years.

The indoor installation segment to hold the largest market share in 2026

Indoor signage has witnessed significant demand in healthcare, education, corporate and broadcast, and retail applications. The demand for indoor signage in these applications mainly stems from the ongoing adoption of immersive and highly interactive display technologies. Additionally, the rapid adoption of self-service kiosks, which allow customers in retail applications to browse digital products and make purchases, is further driving the growth of the market for indoor digital signage. Indoor digital signage products, such as interactive digital screens, influence customers’ purchase decisions. Meanwhile, the usage of indoor digital menu boards helps improve operational efficiency and customer experience. Samsung, NEC, and LG are among the major players focusing on a wide range of indoor digital signage applications.

APAC to register higher CAGR during the forecast period

APAC is projected to lead the digital signage market from 2021 to 2026. Increasing adoption of the Internet of Things (IoT) and technologies that enable digital transformation across various sectors such as commercial, institutional, infrastructure, and industrial has fueled the demand for digital signage in APAC. In addition, strong economic growth, rise in consumerism, growth in the standards of living, increase in disposable income, high technological advancements, growth of retail space, and changes in lifestyles have accelerated the adoption of strong and reliable advertising media in the countries of the region. However, the rise of online advertising and issues related to the adoption of digital signage in various applications are expected to restrict the growth of the digital signage market in APAC.

Major players in the digital signage market are Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (US), Sony Corporation (Japan), Barco (Belgium), Panasonic Corporation (Japan), Shanghai Goodview Electronics (China), AU Optronics (Taiwan), and BrightSign (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.

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