Interactive Display Market worth $13.2 billion by 2025, at a CAGR of 8.1%

 

The report "Interactive Display Market with COVID-19 Impact Analysis, by Product (Interactive Kiosk, Whiteboard, Table, Video Wall, Monitor), Technology (LCD, LED, OLED), Panel Size, Panel Type, Vertical, and Geography - Global Forecast to 2025" The global interactive display market is expected to reach USD 13.2 billion by 2025 from USD 9.0 billion in 2020, growing at a CAGR of 8.1% from 2020 to 2025. Growing demand for interactive display panels in gamification and digital classrooms, assured return on investment (ROI) for businesses from interactive display products, decreasing prices and increasing panel size leading to high adoption of interactive display products, growing adoption of interactive displays in retail sector, and dynamic nature of interactive displays leading to an improved customer experience are the major factors driving the market growth for interactive displays.

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32—65” panel size segment to account for the largest share of the interactive display market during forecast period

32—65” panel size segment is expected to account for the largest share of the interactive display market during the forecast period. The market for 32—65” interactive displays is mainly driven by the demand from educational institutes, government, and corporate sector. These displays are extensively used for official presentations and trade shows. They facilitate organizations to identify target audience and make appropriate business decisions.  

Education vertical to dominate the interactive display market from 2020 to 2025

Interactive displays are extensively used in the education sector. In recent times, students desire and expect active communication that rapidly absorbs and instantaneously responds to their requirements. Education can be imparted to students with the help of interactive display products placed in public places such as reception, canteens, staff rooms, libraries, and hostels. Interactive display products in educational institutions can also act as emergency broadcast systems, that quickly alert students and staff in emergencies. Some of the products that have applications in the education sector are interactive whiteboards, touchscreen monitors, and interactive kiosks.

Europe to account for a significant share of the global interactive display market

Europe is a major market for interactive displays. The presence of many active industries and companies in the region is a major factor driving the market growth. Moreover, the growing trend of conventional broadcasters entering the interactive display market to explore growth opportunities for advertising, and the constantly growing hospitality sector in the region are the other factors that are significantly contributing to the growth of the interactive display market in Europe. The market growth in the UK and Germany can be attributed to the growing demand for interactive displays in healthcare, hospitality, transportation, and banking and financial service verticals. Moreover, the transportation, and retail & hospitality industries are expected to provide growth opportunities for market players in France.  

The report profiles key players such as Samsung Electronics (South Korea), LG Display (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard Optoelectronic (Planar) (China), Sharp (Foxconn) (Japan), Elo Touch Solutions (US), Crystal Display systems (UK), ViewSonic (US), and Horizon Display (US).

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Industrial Services Market worth $44.1 Billion by 2025, at a CAGR of 5.6%

 

According to the new market research report "Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025" The industrial services market size is estimated to be USD 33.6 billion in 2020 and is projected to reach USD 44.1 billion by 2025, at a CAGR of 5.6% between 2020 and 2025. The rising necessity for operational excellence, growing demand for predictive maintenance services, and increasing demand for maintenance-as-a-service are major factors driving the growth of the industrial services market. Additionally, increasing equipment complexity leading to a growing need for calibration and repair services is another key driver for the market.

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Operational improvement & maintenance services to grow at the highest growth rate during the forecast period

The operational improvement and maintenance services help the end users improve the asset's lifecycle and reduce downtime. The complete suite of operational improvement and maintenance services segment can be further divided into a broad spectrum of services, including scheduled maintenance, ad-hoc and emergency maintenance, and predictive maintenance services. Ad-hoc and emergency maintenance services help end users reduce unplanned downtime by providing a control system expert for fast and efficient onsite support. Scheduled maintenance services assist the process & discrete industries in monitoring the operational equipment—the services provide up-to-date maintenance of filed devices, software, and plant. Predictive maintenance services help end users decrease unplanned downtime by monitoring installed devices and systems continuously.

Industrial 3D printing to grow at the highest growth rate during the forecast period

Industrial 3D printing is used in major industries such as automotive, aerospace, food & beverages, electrical/electronics, and foundry and forging industries. Manufacturing tools is an expensive and time-consuming process, but it can be simplified using industrial 3D printing tools. The highly complex designs can be easily manufactured using 3D printing, thereby eliminating the requirement of an assembly line. It also reduces the labor cost. As the potential applications for 3D printing increase, companies are beginning to create new business models and opportunities with the technology.

Food & beverages industry is expected to register the highest CAGR during forecast period

Besides rising costs, the food & beverages industry faces other challenges such as regulatory compliance, management of the global supply chain, product quality, and continuous process improvement. There is a strong demand for processed food from the emerging markets owing to the burgeoning population and increasing food consumption worldwide. These challenges are overcome using SCADA, PLC, DCS, and MES systems to enhance productivity, save resources, minimize downtime, and maintain adherence to regulatory compliances.

The industrial services market in Asia Pacific is expected to grow significantly from 2020 to 2025

The growth in Asia Pacific is mainly attributed to the increasing adoption of industrial automation and related services in China, Japan, and India. With the growing trend of cloud connectivity in Asia, industries would adopt Industrial Internet of Things (IIoT)-based remote monitoring and predictive maintenance services. The downstream sector of Chinas oil & gas industry is undergoing remarkable developments and reformation to modernize refineries, fueling the demand for machine safety systems. The adoption of automation solutions in the manufacturing industries in India is increasing significantly. In addition, the growing number of power projects to meet the rising demand for electricity in India has provided momentum to implement machine safety systems such as burner management and fire and gas systems at plant locations. The need for quality control, worker safety, and improved productivity is also boosting the market for automation services in countries such as South Korea, Malaysia, Taiwan, Australia, and Singapore.

Major players in the industrial services market are ABB (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International (US), Schneider Electric (France), Rockwell Automation, Inc. (US), Siemens (Germany), Yokogawa Electric Corp. (Japan), Mitsubishi Electric Corporation (Japan), Metso Corporation (Finland), and Samson AG (Germany).

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Collaborative Robot Market Worth USD 9.2 Billion by 2028, at a CAGR of 41.5%

 

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

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

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

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

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

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

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

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

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Infrared Detector Market expected worth $751 million by 2028, at a CAGR of 7.0%

 

The report "Infrared Detector Market by Type (Mercury Cadmium Telluride, INGaas, Pyroelectric, Thermopile, Microbolometer), Technology (Cooled and Uncooled), Wavelength (NIR & SWIR, MWIR, LWIR), Application, Vertical and Region - Global Forecast to 2028" The global Infrared detector market is expected to grow from USD 535 million in 2023 to USD 751 million by 2028, at a CAGR of 7.0% from 2023 to 2028. High penetration of infrared detectors into non-contact temperature measurement, gas analysis, astronomy, and fire detection applications, and growing popularity of uncooled infrared detectors, and increasing demand for infrared detectors in imaging applications are the two key factors that have led to the rise in competitiveness in the infrared detector market. Moreover, the rising demand for infrared detectors in emerging countries provides opportunities for the market.

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Pyroelectric segment to hold the largest share of the Infrared detector market, by type, in 2023.

This segment is expected to hold its dominating position during the forecast period. The pyroelectric infrared (PIR) detector market is witnessing the most significant share and steady growth due to its widespread usage in security systems like motion sensors for intruder alarms, surveillance cameras, and access control systems. As security concerns continue to rise, the demand for PIR detectors in residential and commercial properties is increasing. This growth is further propelled by technological advancements, energy efficiency, integrating PIR detectors into smart systems, expanding Internet of Things (IoT) applications, and a growing emphasis on safety and comfort. Collectively, these factors contribute to the expanding market for PIR detectors.

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

Infrared detectors are widely utilized in people and motion sensing applications due to their unique capabilities in detecting and analyzing infrared radiation. These detectors are vital in various industries and environments, such as security systems, home automation, and occupancy sensing. In people and motion sensing applications, infrared detectors utilize multiple technologies, such as passive infrared (PIR) or pyroelectric sensors. PIR sensors detect changes in infrared radiation emitted by objects, including human bodies, using multiple sensor elements arranged in a specific pattern. On the other hand, pyroelectric sensors measure the electrical charge generated by temperature variations on the sensor surface caused by the presence of individuals.

North America to hold the largest share of Infrared detector market by 2023.

North America's dominant position in the infrared detector market can be attributed to multiple factors. The region boasts a robust presence of key industry players, encompassing manufacturers and technology providers, who consistently pioneer innovative solutions and push the boundaries of infrared detector technology. It fosters a robust supply chain and ensures the availability of state-of-the-art products. Additionally, North America exhibits substantial demand for infrared detectors across diverse sectors, including aerospace, automotive, healthcare, and industrial industries. The region's advanced security infrastructure, escalating investments in defense and surveillance systems, and stringent safety and security regulations fuel the adoption of infrared detectors. These factors collectively contribute to North America's supremacy in the infrared detector market.

Major players profiled in this report are as follows:  Excelitas Technologies Corp. (US), Hamamatsu Photonics K.K. (Japan), Murata Manufacturing Co., Ltd. (Japan), Teledyne FLIR LLC (US), and Nippon Ceramic Co., Ltd. (Japan), Texas Instruments Incorporated (US), OMRON Corporation (Japan), InfraTec GmbH (Germany), Lynred (France), and TE Connectivity (Switzerland), and others.

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Battery-free Sensors Market expected to reach 109 Mn by 2026, at a CAGR of 27.6%

 

According to the new market research report "Battery-free Sensors Market with COVID-19 Impact Analysis, by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors), Frequency, Industry (Automotive, Logistics, Healthcare, Food & Beverages), and Region - Global Forecast to 2026", The global battery-free sensors market size is projected to grow from USD 32 million in 2021 to USD 109 million by 2026; it is expected to grow at a CAGR of 27.6% from 2021 to 2026. With rapid technological advancements, battery-free sensors are increasingly adopted in IoT applications to improve production efficiency and reduce operational and maintenance costs in the wake of COVID-19. Additionally, the ongoing miniaturization of medical and electronic devices and the growing implementation of automated condition monitoring solutions in smart factories are expected to boost the growth of the battery-free sensors market during the forecast period.

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Temperature sensors accounted for the larger size of the battery-free sensors market in 2020.

Temperature sensors segment held the largest size of the market in 2020. Battery-free sensors are at the initial phase of commercialization. At present, only a few companies are providing battery-free sensors. Among other sensors, temperature sensors are the most common sensors offered by these manufacturers. Temperature sensors account for the largest share due to the high deployment of these sensors by the manufacturing and process industries, such as oil & gas, food & beverages, and automotive industries, in hard-to-reach or remote machinery to monitor the machine condition. The data gathered by these temperature sensors enable effective predictive maintenance programs in industrial plants to avoid costly downtime. These sensors are also maintenance-free, making them preferable for various industrial operations. Also, the average selling price of the battery-free temperature sensor is higher than other types of sensors covered in this report

Automotive segment is expected to hold the largest size of the battery-free sensors market in 2020.

Automotive segment is expected to hold the largest share in the battery-free sensors market during the forecast period. Automobile companies across the world are emphasizing on automating and upgrading their assembly lines. Automobile manufacturers adopt battery-free sensors at a significant rate owing to their advantages, such as prediction and prevention of equipment failure by improvising the performance and efficiency of assets and equipment at reduced maintenance costs. Battery-free sensors enable predictive maintenance and help efficient handling of assembly operations in the automotive industry. Hence, the automotive industry is expected to capture the largest market share throughout the forecast period. Automobile original equipment manufacturers (OEM) and players within the mobility industry are among the worst hit by the COVID-19pandemic. Automobile OEMs increasingly rely on just-in-time manufacturing, which is presently affecting their production capabilities and overall exports owing to supply chain disruptions.

APAC is projected to be the largest market for battery-free sensors from 2021 to 2026.

Battery-free sensors market in APAC is expected to grow at the highest CAGR during 2021−2026. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the battery-free sensors market in this region. The expansion of manufacturing activities resulting from the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, drives the demand for battery-free sensors in the region. However, the outbreak of COVID-19 has impacted the manufacturing facilities of all verticals across the world, forcing them to shut down. However, production has resumed in a few facilities in China, thereby initiating the manufacturing of some essentials.

ON Semiconductor (UK), Farsens (Spain), Axzon (Rfmicron) (US), Inductosense (UK), Phase IV Engineering (US), Powercast (US), Distech Controls (US), EnOcean (Germany), DCO Systems (UK), and Everactive (US), are some of the major players in battery-free sensors market.

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Cleaning Robot Market expected to reach USD 25.9 Billion by 2027

 

The report "Cleaning Robot Market by Type, Product (Floor Cleaning Robots, Lawn Cleaning Robots, Pool Cleaning Robots, Window Cleaning Robots), Operation Mode (Self-driven, Remote Controlled), Sales Channel, Application and Region - Global Forecast to 2027" The Cleaning Robot Market is projected to grow from USD 9.8 Billion in 2022 to USD 25.9 Billion by 2027; it is expected to grow at a CAGR of 21.5% during the forecast period. The growth of the market is attributed to the increasing adoption of AI and IoT in household appliances, growing adoption of cleaning robots in commercial sector, rising demand for disinfecting robots in healthcare facilities. During the forecast period, development of AI-enabled and voice-controlled smart cleaning robots is expected to create growth opportunities for the market.

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Personal cleaning robots type to account for a larger share of cleaning robot market in 2022

Personal cleaning robots account for a larger share of the cleaning robot market, which is attributed to the growing sales of floor-cleaning robots for domestic purposes. The busy lifestyle and the increase in automation have led to a growth in demand for floor-cleaning robots, which can easily perform the task of dry and wet cleaning. They can be scheduled and controlled using a smartphone or tablet. Apart from floors, personal cleaning robots can also be used for the cleaning of pools, lawns, and windows. In developed and developing countries, the presence of lawns and pools in homes is becoming a luxury, and the maintenance of these requires mowers and pool cleaners. Cleaning robots, as a one-time investment, to reduce labor costs and effort for the maintenance of lawns and pools are helping the market grow.

Residential application to lead cleaning robot market in 2022

The cleaning robot market for residential applications is expected to hold the largest market share during the forecast period. Technological advancements are enabling these robots to become more practical and usable day by day. This is driving consumer demand and acceptance of such products. Rising consumer demand for autonomous robotic technology and the minimization of human intervention are factors driving market growth.

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

Asia Pacific is the fastest-growing market for cleaning robots. The rise in disposable income among consumers in countries of the region has led to the rapid adoption of cleaning robots in the residential segment. The increasing adoption of cleaning robots and the influx of global players, along with the emergence of native players, are driving market growth. China is one of the key countries for the cleaning robot market in Asia Pacific as the country is the major manufacturing hub for cleaning robots globally. The presence of several manufacturers and suppliers in China has helped the cleaning robot market to expand rapidly in the country. The country accounts for a share of more than 50% of the cleaning robot market in Asia Pacific.

Major vendors in the cleaning robot market include iRobot Corporation (US), Ecovacs Robotics Co., Ltd (China), Samsung Electronics Co., Ltd. (South Korea), Xiaomi (China), and Roborock (China) among others.

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Speech and Voice Recognition Market worth USD 28.1 Billion by 2027, at a CAGR 24.4%

 

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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