Smart Badge Market expected to reach $33.8 billion by 2025

The report "Smart Badge Market by Communication (Contact and ContactLess), Type (With Displays and Without Displays), Application (Government & Healthcare, Corporate, and Retail & Hospitality) and Region (NA, EU, APAC, ROW) - Global Forecast to 2025", is estimated to grow from USD 21.1 billion in 2020 to USD 33.8 billion by 2025, at a CAGR of 9.9% between 2020 and 2025. Increasing demand for wearable access control devices for security management is the major factor driving the growth of the market.

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Some of the leading players in this market are Thales Group (Gemalto) (France), ASSA ABLOY AB (HID Global Corporation) (Sweden), Giesecke+Devrient GmbH (Germany), Brady Worldwide, Inc. (US), IDEMIA (France), Evolis (France), Identiv Inc. (US), BEAM (US), AIOI-SYSTEMS CO., LTD. (DISPLAY IT CARD) (Japan), Watchdata (Singapore), and Identita (Canada). The other players operating in the market include Blendology (UK), Squarofumi (China), KONA I Co. Ltd. (South Korea), Proxfinity Inc. (US), Klik (Canada), Global Net Solutions (GNS) (US), CardLogix Corporation (US), MpicoSys Solutions B.V. (Netherlands), AbeeWay (France), and HierStar Ltd. (China).

“Government & healthcare is the most attractive segment that is gaining attention in the smart badge industry.”

In 2019, the government and healthcare segment held the largest share of the smart badge market. The growth of this segment of the market can be attributed to the adoption of smart badges for access control and critical data storage, as well as to ensure national security. The governments of developed and developing countries rely on the sprawling patchwork of systems to identify and manage people using smart cards.

“Smart badge market in APAC expected to grow at the highest CAGR during the forecast period.“

APAC accounted for the largest share of the smart badges market with displays in 2019, owing to the presence of a large consumer base of these badges in the region. A major portion of the demand for smart badges with displays is from China, followed by Japan and South Korea. However, the market in North America is projected to grow at the highest CAGR during the forecast period. North America has always been a forerunner in adopting new and innovative technologies. Countries of North America are developed economies. As such, the adoption rate of information and communication and smart wearable technologies is the highest in the region.

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Metal-air Battery Market worth $842 million by 2025

According to the research report "Metal-air Battery Market with COVID-19 Update by Metal (Zinc, Aluminum, Lithium, Iron), Voltage (Low, Medium, High), Application (Electric Vehicles, Military Electronics, Electronic Devices, Stationary Power), Type, and Region - Global Forecast to 2025", the global metal-air battery market size is estimated to grow from USD 438 million in 2020 to USD 842 million by 2025; it is expected to grow at a CAGR of 14.0%. Growing demand for high-capacity, safe, cost-effective, and eco-friendly energy storage solutions is one of the factors fueling the growth of this market.

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NantEnergy Inc. (US), Phinergy (Israel), Log 9 Materials (India), Arotech Corporation (US), PolyPlus Battery Company (US), Fuji Pigment Co., Ltd. (Japan), GP Batteries International Limited. (Hong Kong), Zinc8 Energy Solutions Inc. (Canada), and Energizer Holdings, Inc. (US) are a few of the key players in the metal-air battery market.
“Zinc-air batteries accounted for largest share of metal-air battery market in 2019.”
Zinc-air batteries accounted for the largest share of the metal-air battery market in 2019. The lightweight of zinc-air batteries and the ease of use in devices such as hearing aids and watches are likely to drive their demand. High energy storage density and the flat drain curve of these batteries make them an ideal power supply solution for such electronic devices. Zinc-air batteries are also used in navigation aid systems and remote railway signaling.

“Market for high-voltage (above 36 V) metal-air batteries is expected to grow at highest CAGR during forecast period”

The market for high-voltage metal-air batteries is expected to grow at the highest CAGR from 2020 to 2025. The growth is anticipated due to several advantages offered by high-voltage metal-air batteries that include longer operational life, higher power, and more safety than lead-acid batteries. High-voltage metal-air batteries feature built-in stationary power storage and grid storage applications that keep the batteries running at peak performance while preventing overheating and maximizing cell cycle life.

“Electronic devices accounted for largest share of metal-air battery market in 2019”

The electronic devices application held the largest share of the metal-air battery market in 2019. The miniaturization of electronic devices and the growing demand for high-energy-density, clean, and low-cost batteries are a few of the factors driving the demand for metal-air batteries for electronic devices. Presently, lithium-ion batteries are used in most of the electronic devices as a portable power source. However, in the next 10 years, metal-air batteries are more likely to be preferred because of their features, such as high-energy-density, low-cost, safe, and non-flammable operation. Metal-air batteries are also eco-friendly, which makes them widely acceptable to electronic device manufacturers.

“Market in Europe is expected to grow at highest CAGR during forecast period”

The metal-air battery market in Europe is expected to grow at the highest CAGR during the forecast period. The presence of a tech-savvy population with high disposable income and a huge demand for electric vehicles and consumer electronics are leading to advancements in metal-air batteries, which are expected to fuel the market growth in Europe. Several initiatives taken by the governments and authorities in the region to develop metal-air batteries include ZAESS project, Development of electrically rechargeable zinc-air batteries (European Commission), ZAS project, and Powair project. All these initiatives have collectively helped in creating significant growth in the regional metal-air battery industry.

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IoT Sensors Market expected to reach $22.48 billion by 2023

According to the latest market research report "IoT Sensors Market by Sensor Type (Pressure, Temperature, Humidity, Magnetometer, Gyroscope, Accelerometer, Image, Inertial), Network Technology (Wired and Wireless), Vertical (Consumer, Commercial, Industrial), and Geography - Global Forecast to 2023", the IoT sensors market is expected to be valued at USD 5.28 billion by 2018 and is projected to reach USD 22.48 billion by 2023, at a CAGR of 33.60% between 2018 and 2023. Major factors that drive the growth of the IoT sensors market include increased use of sensors in IoT devices and other applications owing to their reduction in size, plummeting costs, and technological advancements; introduction of 3 GPP Release 13 and Release 14 specifications; growth in internet penetration rate; high demand for connected and wearables devices; introduction of IPv6 creating larger address space; and importance of real-time computing for IoT applications.

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The companies profiled in this report are Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec (Germany), TDK (Japan), Infineon Technologies (Germany), Analog Devices (US), Omron (Japan), Sensirion (Switzerland), Honeywell (US), Siemens (Germany), General Electric (US), SmartThings (US), Monnit (US), Murata Manufacturing (Japan), Sensata Technologies (US), Silicon Laboratories (US), and Libelium (Spain).

Pressure sensors to hold largest share of IoT sensors market during forecast period

Pressure sensors are expected to hold the largest size of the IoT sensors market by 2023. The market for pressure sensors is largely driven by the increased concerns regarding safety, comfort levels, and reduction in automobile emissions. The regulatory mandates requiring the compulsory installation of onboard diagnostics to reduce greenhouse gas emissions will further lead to the growth in the demand for pressure sensors.

Wireless network technologies to hold larger share of IoT sensors market during forecast period

Wireless network technologies are expected to hold a larger size of the IoT sensors market during the forecast period. The market for wireless network technology would be driven by the proliferation of mobile devices and rapidly increasing adoption of the bring-your-own-device (BYOD) concept as well as IoT within enterprises. The upcoming 5G cellular wireless technology is expected to provide much faster internet connectivity and coverage, which would also boost the market of wireless network technologies.

IoT sensors market for consumer vertical to grow at highest CAGR during forecast period

The IoT sensors market for consumer vertical is expected to grow at the highest CAGR between 2018 and 2023. The market is driven by the increased adoption of smart devices in home automation, smart cities, and wearables. The technological developments are leading to the advancements in consumer electronics such as smart home appliances and smart TV. Furthermore, the increasing involvement of domestic as well as multinational players to boost the IoT infrastructure has further fueled the growth of IoT across the globe, which would boost the demand for IoT sensors.

North America to hold largest share of IoT sensors market by 2018

North America is expected to hold the largest share of the IoT sensors market by 2018. The increasing internet usage in technologically advancing economies as well as the growing adoption of wireless sensors and networks across major applications such as industrial, automotive and transportation, healthcare, oil & gas, and consumer electronics propel the growth of the IoT sensors market.
This report describes the market trends, drivers, restraints, opportunities, and challenges for the IoT sensors market and forecast till 2023. The report also includes the value chain analysis of the market along with a detailed view of the market across 4 major regions North America, Europe, Asia Pacific, and Rest of the World (South America and MEA). The report profiles the 20 most promising players in the IoT sensors market.

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Top Robotics Market worth 98.91 Billion USD by 2023

According to the new market research report "Top Robotics Market by Top Industrial Robotics (Articulated, SCARA, Cartesian, Parallel, and Collaborative), Top Service Robotics (Logistics, Domestic, Medical, Field, and Defense, Rescue, & Security) - Global Forecast to 2023", The top industrial robotics market is expected to grow from USD 44.02 Billion in 2018 to USD 69.14 Billion by 2023, at a CAGR of 9.45% during the forecast period; the top service robotics market is expected to grow from USD 11.27 Billion in 2018 to USD 29.76 Billion by 2023, at a CAGR of 21.44% during the forecast period.The growth of the top robotics market is driven by factors such increasing demand for service robots from medical and healthcare sectors, and growing investments for automation in various industries.

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The top industrial robotics market is currently dominated by players such as FANUC (Japan), ABB (Switzerland), Yaskawa (Japan), KUKA (Germany), and Mitsubishi (Japan). CMA Robotics S.p.A. (Italy), Robert Bosch GmbH (Germany), Anhui Efort Intelligent Equipment (China), Precise Automation, Inc. (US), Rethink Robotics (US), and F&P Robotics AG (Switzerland) are some of the emerging players in the top industrial robotics market. The top service robotics market is currently dominated by players such as Northrop Grumman (US), iRobot (US), DJI (China), Intuitive Surgical (US), and Honda Motor (Japan). Samsung Electronics (South Korea), GeckoSystems (US), DeLaval (Sweden), and Kongsberg Maritime (Norway) are some of the emerging players in the top service robotics market.

Articulated robots to capture the largest share of the top industrial robotics market in 2018

Articulated robots are expected to hold the largest share of the top industrial robotics market in 2018 owing to increased payload capacity, work envelope, reliability, and speed, articulated robots are used in several applications, including welding, painting, assembly, packaging, palletizing, depalletizing, machine tending, sealing, gluing, cutting, cleaning, deburring, die casting, grinding, polishing, material handling, case packing, pick and place, pre-machining, and press brake tending.

Top industrial robotics market for metal and machinery industry to grow at a high rate during the forecast period

The metals and machinery industry has been among the versatile industries for automation solutions. It performs several functions ranging from small details to higher performance in complex tasks. With growing demand for machines in industries, such as agriculture, packaging, and manufacturing, for various applications, the top industrial robots market for the metals and machinery industry is expected to grow at a high rate during the forecast period.

APAC to hold the largest share of the top service robotics market during the forecast period

Among the 4 regions considered (North America, Europe, APAC, and RoW) in the report, APAC is expected to hold the largest share of the top service robotics market during the forecast period (2018–2023). Adoption of service robots by countries such as China, India, Japan, and South Korea for a myriad of personal and professional applications contribute to the growth of the top service robotics market in APAC. Also, the rising demand for mobile service robots, such as autonomous ground vehicles (AGVs) and logistic robots, for logistic stock management application is driving the growth of the market in this region.

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Thin-Film Encapsulation (TFE) Market worth 101.1 Million USD by 2023

According to the new market research report "Thin-Film Encapsulation (TFE) Market by Application (OLED Display, Lighting, Thin-Film Photovoltaics), Deposition Technology (Inorganic Layers (PECVD, ALD) and Organic Layers (Inkjet Printing and VTE)), and Geography - Global Forecast to 2023", The thin-film encapsulation market for materialsis expected to grow from USD 31.7 Million in 2018 to USD 101.1 Million by 2023, at a CAGR of 26.1% between 2018 and 2023.


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The leading suppliers of thin-film encapsulation equipment and materials in the market are Samsung SDI (Novaled) (South Korea), LG Chem (South Korea), Universal Display Corp. (UDC) (US), Applied Materials (US), 3M (US), Veeco Instruments (US), Kateeva (US), Toray Industries (Japan), BASF (Rolic) (Germany), Meyer Burger (Switzerland), Aixtron (Germany), Bystronic Glass (Germany), AMS Technologies (Germany), and Angstrom Engineering (Canada). Key innovators profiled in this report include Beneq (Finland), Encapsulix (France), Lotus Applied Technology (US), Vitriflex (US), and Picodeon (Finland).

The thin-film encapsulation market for materialscovers the thin-film organic and inorganic barriers used at the manufacturing level of flexible OLED displays, flexible OLED lighting, thin-film photovoltaics, and other products. The need for thin-film barriers in flexible and organic devices, trend of thin-film encapsulation using inkjet printing technology, and rapid adoption of flexible OLED displays for smartphones and smart wearables significantly drive the market growth. The growing investments in the OLED technology and manufacturing facilities and rising adoption of thin-film solar cells are likely to provide lucrative opportunities for the market players in the near future.

Rising demand for flexible OLED displays and flexible OLED lighting solutions is driving the growth of thin-film encapsulation market for materials

OLED displays accounted for the largest share of the thin-film encapsulation market for materials, in terms of value, in 2017. Samsung SDI and LG Chem develop thin-film encapsulation materials for flexible OLED displays. These companies are also working with thin-film encapsulation equipment suppliers, such as Kateeva and Applied Materials. The thin-film encapsulation market for materials in OLED lighting applications is expected to grow at the highest CAGR of 31.8% during the forecast period.

APAC is expected to hold the largest market share between 2018 and 2023

APAC accounted for the largest share of the thin-film encapsulation market for materials in 2017. Major display panel and brand product manufacturers are based in China, Japan, Taiwan, South Korea, and Hong Kong. South Korea witnessed the highest demand for thin-film encapsulation materials in 2017 owing to presence of industry leaders such as Samsung and LG Display in the country. Further, the demand for thin-film encapsulation materials from China is expected to increase rapidly during 2018–2023 as various Chinese players, such as BOE Technology and CSOT, are planning to construct facilities to manufacture flexible OLED panels.

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Digital Textile Printing Market worth 2.31 Billion USD by 2023

According to the new market research report on the "Digital Textile Printing Market by Printing Process (Roll to Roll, DTG), Ink Type (Sublimation, Pigment, Reactive, Acid), Application (Textile & Decor, Industrial, Soft Signage, Direct to Garment), and Geography - Global Forecast to 2023", this market is expected to be worth USD 2.31 Billion by 2023 from USD 1.76 Billion in 2018, at a CAGR of 5.59% between 2018 and 2023. The major factors driving the growth of the digital textile printing industry include the growing demand for sustainable printing; increasing demand for digital textile printing in the garment and advertising industries; shortening lifespan and faster adaptability of fashion designs; development of new technologies in the textile industry; reduced per unit cost of printing with digital printers, and growth of the e-commerce industry.

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The report also profiles the most promising players in the digital textile printing market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in this industry are Aeoon Technologies GmbH (Austria), ATPColor Srl (Italy), Bordeaux Digital PrintInk Ltd. (Israel), Durst Phototechnik AG (Italy), Hollanders Printing Systems B.V. (Netherlands), Kornit Digital (Israel), SPGPrints B.V. (Netherlands), Brother International Corporation (Japan), Colorjet Group (India), d.gen Inc. (South Korea), Konica Minolta, Inc. (Japan), Mimaki Engineering Co., Ltd. (Japan), Mutoh Holdings Co. Ltd. (Japan), Ricoh Company Ltd (Japan), Roland DG Corporation (Japan), Seiko Epson Corporation (Japan), DuPont (US), Electronics For Imaging, Inc. (US), and Huntsman International LLC (US).

Roll to Roll printing process expected to hold largest market share by 2023

The roll to roll printing process is expected to hold the largest share of the digital textile printing market during the forecast period. Currently, the roll to roll printing process accounts for more than two-thirds of the digital textile printing market and is majorly used in textile & decor, soft signage, and industrial applications. The major applications in textile & decor are home textile, upholstery, linens, drapery, scarves, ties, bags, sportswear, footwear, clothes, interior decor, etc. Applications in the soft signage and industrial segments include carpets, posters, banners, flags, vehicle wrapping, wallpaper, building material, POS display, etc.

Direct to Garment application to grow at highest rate during forecast period

The direct to garment application is estimated to register the highest CAGR during the forecast period. Fast moving fashion cycles, cost advantage on short run cycles, creative designs, quick time to market for new trends, reduced wastage, and low power consumption are some of the major factors which will drive the market for direct to garment applications. According to industry experts, the future of fashion is all about customization. Consumers choose to wear the shape, size, prints, and colors that best suit them. The fashion industry is going through an evolution regarding how it gets products from the runway during a fashion week to stores and ultimately customers’ wardrobes quicker than ever. This has led to a shift in the entire production timeline.

Europe likely to hold largest share of digital textile printing market during forecast period

Europe is expected to hold the largest share of the digital textile printing market during the forecast period owing to the economic recovery and increased growth in the printing industry. Digital textile printers are increasingly being deployed in Europe to meet the need for faster turnaround times, shorter runs, and more variable data printing with high quality. The use of digital textile printers in the fashion industry is another factor driving the growth of this market in this region.

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Artificial Intelligence Market worth $190.61 billion by 2025 with a Growing CAGR of 36.6%

According to the new market research report "Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025", The artificial intelligence market is expected to be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

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The Major Players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung  (South Korea), Facebook (US), Micron(US), IBM (US), Google (US), Microsoft (US), and AWS (US).

Deep learning is expected to grow at the highest CAGR during the forecast period

The increasing use of deep learning in applications such as image recognition, speech recognition, and data mining is the prime factor resulting in its growth. In addition, the rising adoption of deep learning algorithms to derive vital information generated from wearables and electronic health record (EHR) systems and its use in drug discovery application are the key factors driving the market growth.

Software market for artificial intelligence expected to hold the largest market share

The software market is expected to hold the largest share for artificial intelligence market. The software market is growing due to increasing conversation AI platforms. Also, The general purpose AI platforms and software being used to develop interface and application ranging from conversational interfaces to predictive and prescriptive applications that offer advice and recommendations. The AI software platform is majorly focused on tools and API framework for application and technologies based on AI and ML using both structured and unstructured data to drive these application.

Manufacturing end-user industry is expected to grow at the highest CAGR during the forecast period

The manufacturing industry is witnessing a new wave of technological revolution, which is boosting the idea for implementation of artificial intelligence (AI) in the plant. AI-based solutions are adopted in manufacturing facilities to improve the productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency. Moreover, AI in manufacturing is expected to enhance productivity through quality control by detecting defects and help in the predictive maintenance of factory machinery. This factor is expected to drive the growth of the AI market in manufacturing. Deep learning, natural language processing, context awareness, and computer vision are the major technologies used for data mining, image analysis, signal analysis, decision-making, and execution.

North America expected to hold the largest market share, APAC to witness the highest growth rate

North America is expected to hold the largest share and dominate the artificial intelligence market between 2018 and 2025. Rapid developments in infrastructure and the high adoption of digital technologies are the 2 major drivers of the AI market in the region. Additionally, the region, a well-established economy, has also seen large-scale investments in AI, as a result of which, both start-ups and well-established companies are concentrating more on developing innovative AI-enabled solutions to cater to the various industry verticals. Moreover, the smart city initiatives are increasing in the North American region, due to which, there is an increase in the raw data as well. The need to analyze such raw data to extract relevant information has increased the demand for various AI platforms, such as Google cloud prediction API, Microsoft Azure ML, and Amazon’s AWS in this region.

The artificial intelligence market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In security, with increasing incidents of cyberattacks and a growing cyber-war in the region, organizations and governments are focusing on robust defense infrastructure. APAC, especially China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge volume of data, which is used for training robots. This would act as one of the major drivers for the AI market in APAC.

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Artificial Intelligence Chipsets Market worth 59.26 Billion USD by 2025

According to the latest market research report "Artificial Intelligence Chipsets Market by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and Geography - Global Forecast to 2025", the overall artificial intelligence (chipsets) market is estimated to be valued at USD 7.06 Billion in 2018 and is expected to be worth USD 59.26 Billion by 2025, growing at a CAGR of 35.5% from 2018 to 2025. The availability of big data, coupled with AI algorithms for an extensive range of application areas, is fueling the growth of the AI (chipsets) market. Increased productivity and improved customer satisfaction are the other key factors driving this market.

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Companies that are profiled in this report are NVIDIA (US), Intel (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), Qualcomm Technologies (US), IBM (US), Google (US), Microsoft (US), and AWS (US). Some of the key start-ups included in this report are Graphcore (UK), Wave Computing (US), Mythic (US), Adapteva (US), and Koniku (US).

Machine learning to hold largest market share from 2018 to 2025

Machine learning is expected to hold the largest share of the AI (chipsets) market from 2018 to 2025. Machine learning enables systems to automatically improve their performance with experience. ML aims to develop a computer program/algorithm that can access data and use it to train itself with no human intervention. Machine learning’s ability to collect and handle big data, and its applications in real-time speech translation, autonomous robots, and facial analysis are fueling its growth.

AI (chipsets) market for memory to grow at highest CAGR from 2018 to 2025

The AI (chipsets) market for memory is expected to grow at the highest CAGR during the forecast period. Increasing demand for memory to run large and complex AI algorithms based on AI technologies such as machine learning, computer vision, and predictive analytics is driving the growth of memory devices. In addition, high-bandwidth memory is being developed and deployed for AI applications, independent of its computing architecture.

Marketing to account for largest market size among other end-user industries between 2018 and 2025

The AI (chipsets) market is currently led by the marketing end-user industry. This is attributed to the increasing use of AI for performance improvement of marketing campaigns through better decision-making and offering personalized content to the target markets. Search advertising, social media advertising, and sales and marketing automation are the major applications of AI in marketing.

North America to lead AI (chipsets) market in terms of market size

North America held the largest share of the AI (chipsets) market in 2017. The increasing adoption of AI technology in various end-user industries, such as healthcare, manufacturing, automotive, agriculture, retail, marketing, law, and fintech, and strong presence of industry giants and emerging AI companies in the region are the key factors supporting the growth of the AI (chipsets) market in North America.

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Augmented and Virtual Reality in Healthcare Market worth $6.5 billion by 2025

The report "Augmented and Virtual Reality in Healthcare Market by Offering (Hardware and Software), Device Type, End User, Application (Patient Care Management, Medical Training & Education, Pharmacy Management, Surgery), and Geography – Global Forecast to 2025", is expected grow from USD 0.8 billion in 2017 to USD 6.5 billion by 2025, at a CAGR of 30.7% between 2017 and 2025. The increasing penetration of connected devices in the healthcare sector, increased investment in the AR and VR healthcare, and the growing need to reduce the healthcare cost are the major drivers for the augmented reality in healthcare and virtual reality in healthcare market.

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Key Market Players

Major players in the market for augmented reality in healthcare and virtual reality in healthcare are Google (US), Microsoft (US), DAQRI (US), Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (US), Medical Realities (UK), Atheer (US), Augmedix (US), and Oculus VR (US).

Hardware to witness higher growth during the forecast period

AR and VR require several hardware components such as sensors, semiconductor components, displays & projectors, position trackers, and cameras. Sensors used in handheld display devices such as smartphones and tablets play an important role in the AR market. Global positioning system (GPS) and compass are used in mobile phones for route navigation. Camera has been an integral part of the AR market and is expected to provide optimum benefit to smartphone users in the near future. These components will drive the growth of hardware of AR and VR in healthcare during the forecast period.

Head-up displays to grow at higher CAGR during the forecast period

HMDs with respect to out-of-hospital-care and emergency medical services can be used to help casualties in mass accidents and disaster medicine. HMDs are expected to grow at a high rate in virtual reality in healthcare market owing to its widespread adoption in the healthcare industry. Major use cases of AR and VR head-mounted displays in healthcare include pre-hospital medical care, nursing care in clinical environments, and medical treatment in hospitals. Also, the use of AR smart glasses is expected to grow at a high rate to boost the augmented reality in healthcare market. The European scientists are in process of developing AR HMDs to improve the efficiency of surgical processes. The Video Optical See-Through Augmented Reality Surgical System (VOSTARS), a medical visor, is an HMD that would ease the superimposing of patient’s X-ray images in 3D unison with their anatomy.

Surgery application to witness high growth during the forecast period

Medical practitioners and patients are aware of the importance of precision in surgical procedures. Augmented reality surgery—a surgical training tool—uses technology that superimposes a computer-generated image on a surgeon’s view of the operative field. It provides a composite view of the patient’s internal organs with a computer-generated overlay that enhances the operative experience of the surgeon. Training surgeons on specific surgical procedures is hard and expensive. The high growth of the surgery application is due to the advantages of the AR and VR technologies used during the operational procedures. The use of AR and VR can help surgeons to perform surgeries more efficiently.

AR and VR market for healthcare in APAC is expected to grow at the fastest rate during the forecast period

Being an emerging economy, APAC is witnessing major changes pertaining to the adoption of new technologies and advancements. The region also witnesses an increasing adoption of the latest technologies due to the presence of most of the electronics and display panel manufacturers in the region. Fitness management, patient care management, and pharmacy management are expected to contribute substantially to the growth of the AR and VR in healthcare market in APAC. These applications offer a huge potential for the AR and VR in healthcare market players to grow due to the increasing awareness among healthcare providers and the rising adoption of new technologies in various industries— especially in countries such as Japan, China, India, and South Korea. The increasing number of players in the region would boost the growth of the AR and VR in healthcare market.

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Intelligent Virtual Assistant Market worth 17.72 Billion USD by 2023

The report "Intelligent Virtual Assistant Market by Product (Chatbots, IVA smart speakers), User Interface (Text-based, Text-to-speech based, Automatic Speech Recognition), Industry (Consumer Electronics, BFSI, Retail), and Geography - Global Forecast to 2023", The global intelligent virtual assistant (IVA) market is expected to grow from USD 2.48 Billion in 2017 to USD 17.72 Billion by 2023, at a CAGR of 38.82% between 2017 and 2023. The market is expected to be driven by the demand for automation in customer support services. At the same time, IVA smart speakers are very much in demand for smart home applications such as wireless-connected thermostats, air-conditioners, and others.

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Major companies in the overall IVA market that have been included in this report are Alphabet (US), Amazon.com (US), Apple (US), Nuance Communications (US), IBM (US), Microsoft (US), Samsung Electronics (South Korea), Inbenta Technologies (US), Baidu (China), and Blackberry (US).

BFSI sector has the highest market share of the IVA market and is expected to witness a substantial growth from 2017 to 2023

IVAs are being driven by the BFSI sector due to its demand in automated customer support services. This is due to the technological dependence of people on online transactions while managing their finances. General queries such as balance check, account status, or new schemes can be resolved through chatbots, without engaging a person for resolving such queries. This is propelling the demand for IVA devices.

The automatic speech recognition (ASR)-based IVA is expected to grow at the highest CAGR from 2017 to 2023.

The overall IVA market has been segmented on the basis of user interface. Automatic speech recognition IVAs are expected to grow at a significant rate between 2017 and 2023, driven by the growing demand for smart speakers in home automation systems. Smart home systems are increasingly being adopted especially in North America and Europe. This will fuel the growth of smart speakers that are used in controlling smart home devices such as wireless thermostats, music systems, washing machines, and others.

North America is expected to hold a large share of the IVA market through 2023

North America was the largest market in 2016, followed by Europe and APAC. This is mainly due to the awareness and the availability of smart speakers in North America This is a technologically advanced region where new technologies are adopted at the earliest. Also, major IVA players such as Apple (US), Amazon (US), and Alphabet (US) belong to North America. The IVA market in Europe is expected to hold the second-largest market share by 2023 owing to the growth of gas-sensing applications.

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Plasma Lighting Market expected to reach $415 million by 2024

According to the new market research report "Plasma Lighting Market by Component (Lightron, Waveguide, and Cavity Resonator), Application (Roadways, Streets, and Tunnels Industrial, and Horticulture), Wattage (300W, 700W, and 1,000W), and Geography - Global Forecast to 2024", the plasma lighting market is expected to be worth USD 329 million in 2019 and reach USD 415 million by 2024, at a CAGR of 4.7% from 2019 to 2024. The growth of this market can be attributed to the increasing awareness across the globe about energy-efficient lighting technologies. In addition, initiatives by governments of different countries to encourage the use of energy-efficient lights are also fueling the growth of the market.

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A few key players operating in the plasma lighting market are Luma Group (US), Ceravision (UK), Hive Lighting (US), Ka Shui International Holdings (China), Green de Corp (China), Gavita (Netherlands), Griffin & Ray (US), Guangzhou Kaiming Industries (China), BIRNS (US) and FusionLux (US).

An industrial segment to hold the largest share of the plasma lighting market in 2019

By application, the industrial segment will lead the plasma lighting market in 2019. The increasing awareness about safety and security of employee is the prime factor behind industrial segment growth. In industrial settings, safety is a primary concern, and proper and adequate lighting is a key factor to maintain high productivity of workers. The improper application of light can result in excessive lighting, leading to energy wastage. The industrial end users can save on lighting expenses and conserve energy by using solid-state and other energy-efficient lighting systems such as LEP.

Europe expected to hold the largest share of the plasma lighting market in 2019

Europe is expected to hold the largest share of the plasma lighting market in 2019. It is among technologically advanced regions of the world. Several European countries are taking initiatives to increase the adoption of energy-efficient, low maintenance, and reliable lighting solutions. Plasma lights have been used in Europe for the past few decades to grow plants in commercial greenhouses. The use of plasma lights to grow plants in this region is gradually increasing from being a supplemental lighting source to becoming the primary source of light in indoor farming.

The population of Europe has expanded rapidly in recent times, and the countries are importing frozen fruits and vegetables from Africa and Asia. Indoor horticulture is gaining rapid momentum in some of the major countries of Europe to obtain fresh produce from local farms. This is expected to generate increased demand for plasma light systems used in greenhouses in the coming years.

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Smart Home Market expected to reach $151.4 billion by 2024

According to the new research report "Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), Software & Services, and Region - Global Forecast to 2024", the overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.0%. The growth of the smart home market is driven by factors such as the growing number of internet users and increasing adoption of smart devices; increasing awareness about fitness and rise in disposable incomes in developing economies; increasing importance of home monitoring in remote locations; rising need for energy–saving and low carbon emission-oriented solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; large number of manufacturers expanding their smart home product portfolios; and growing concern about safety, security, and convenience among people.

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“Smart speakers likely to grow at a high rate during the forecast period”

Smart speaker is a wireless speaker enabled by Bluetooth, Wi-Fi, or other wireless protocols and powered by virtual assistant, which is driven by artificial intelligence. There has been continuous increase in demand for smart speakers, especially in smart homes, owing to increasing consumer demand for advanced and multifunctional devices. Moreover, the proliferation of smartphones has enabled the development of applications to stream music to a specific device, thus fueling the demand for smart speakers. The market for smart speaker market is primarily expected to be driven by the increased adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers. Further, recent developments in artificial intelligence and natural language processing to enhance voice recognition capabilities have increased the overall demand for smart speakers in smart homes.

“The market for proactive type software and services to grow at a higher rate during the forecast period”

The software and services pertaining to smart homes enable users to control smart appliances and devices installed in their homes. There is high competition between the software and service providers in the smart home market, which revolves around developing technically advanced and user-friendly software solutions as well as providing improved and real-time services to customers, on the back of the growing awareness about reducing energy consumption within households. Moreover, the environmental regulations implemented by government bodies in most countries, both developed and developing, are further driving the rate of smart home installations. The software and service industry is generating huge revenues from the installation and marketing of smart homes and is also providing services to the customers. These factors are expected to contribute to the high growth rate of the market for software and services during the forecast period.

The proactive type software and services facilitate the transmission of data, along with the best possible solutions, to end users for actions to be taken after receiving the information. The proactive type enables the transfer of a larger volume of data than the behavioral type; it can provide the inputs to end users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption. Proactive solutions are more beneficial than the behavioral type as they can also send recommendation signals to end users to take necessary actions to reduce energy consumption; further, based on the user’s actions, measures to control electronic devices can be implemented. Owing to these advantages, the market for proactive type software and services is expected to grow at a higher rate during the forecast period.

“APAC expected to grow at a high rate during the forecast period”

APAC region is witnessing significant growth due to a number of new residential projects and efforts for strengthening building infrastructure at a significant rate. There is a considerable demand for smart homes in the APAC countries, such as Japan, South Korea, China, and Rest of APAC (RoAPAC). Currently, South Korea is considered a huge market for smart home systems owing to the high demand for various control devices pertaining to lighting control and entertainment control in the country. The overall smart home market in APAC has high growth potential, primarily driven by strong economic growth, rising population, and rapid urbanization, leading to a sophisticated infrastructure. Further, the major share of Japan and South Korea in the market in APAC can be attributed to their leading position in terms of technological advancements in smart homes. The market in China is expected to grow at the highest rate among other

APAC countries during the forecast period, owing to the rising automation demand for a large number of new and existing residential projects. The presence of a large base of end users in advanced economies such as China, Japan, and South Korea and the high demand for energy management systems are the major factors that are likely to fuel the demand for smart homes in the APAC region.
Players such as Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany) are currently dominating the smart home market. Other key players operating in the smart home space are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.

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Automated Optical Inspection (AOI) System Market worth $1,583 million by 2025

According to the new market research report, "Automated Optical Inspection (AOI) System Market by Type (2D AOI, 3D AOI), Technology (Inline AOI, Offline AOI), Industry (Consumer Electronics, Telecommunications, Automotive, Medical Devices, Aerospace & Defense) and Region - Global Forecast to 2025" is estimated to be valued at USD 753 million in 2020 and is projected to reach USD 1,583 million by 2025; it is expected to grow at a CAGR of 16.0% during the forecast period. Major factors fueling the growth of the market include increasing demand for consumer electronics, rising need for high-quality electronic components, demand for higher productivity by electronics manufacturing services (EMS) companies, and growing demand for AOI systems in automotive electronics.

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Major players in the automated optical inspection (AOI) system market include Koh Young (South Korea), Test Research, Inc. (Taiwan), Omron (Japan), Viscom (Germany), Saki (Japan), Nordson (US), Daiichi Jitsugyo (Japan), KLA (US), Camtek (Israel), CyberOptics (US), Goepel Electronic (Germany), and Mirtec (US).

3D AOI systems to hold the largest size of the automated optical inspection (AOI) system market by 2025

3D AOI systems can detect faults in PCB substrates as well as defects in the ball grid array (BGA), which makes them superior to 2D AOI systems. Further, the ability to quickly inspect defects in tall components, a significant reduction in false call rates, and the ability to provide volumetric data of components under inspection make 3D AOI systems the ideal choice for electronic manufacturing service (EMS) providers in the coming years.

Inline AOI system to account for the larger size of automated optical inspection (AOI) system market by 2025

Inline AOI systems offer a higher rate of PCB inspection, which is ideal for electronics manufacturing companies involved in high volume production. Hence, most large manufacturing companies install multiple inline AOI systems in their production lines to speed up the inspection process.

APAC to be the largest market for automated optical inspection (AOI) system market in 2025

APAC is the leading region for the global PCB production market, with countries such as China, Taiwan, Japan, and South Korea. The increase in the high-volume manufacturing of PCBs creates a demand for AOI systems with faster inspection speed.

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Hall-Effect Current Sensor Market worth 1,473.7 Million USD by 2023

According to the new market research report "Hall-Effect Current Sensor Market by Type, Technology, Output (Linear and Threshold), Industry (Industrial Automation, Automotive, Consumer Electronics, Telecommunication, Utilities, Medical, Railways), and Region - Global Forecast to 2023", the Hall-Effect current sensor market is expected to grow from USD 906.7 Million in 2017 to USD 1,473.7 Million by 2023, at a CAGR of 8.4% between 2017 and 2023. The factors driving the growth of this market are the continuous technological advancements, growing use of fully integrated and programmable current sensors, advantage of galvanic isolation-based Hall-Effect current sensors, and growing demand for intelligent Hall-Effect current sensors.

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The major players operating in the Hall-Effect current sensor market are ABB Ltd (Switzerland), Honeywell International, Inc. (US), STMicroelectronics N.V. (Switzerland), Allegro MicroSystems LLC (USA), Asahi Kasei Microdevice Corporation (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), LEM Holding SA (Switzerland), TDK Corporation (Japan), and Kohshin Electric Corporation (Japan).

“Hall-Effect current sensor market for closed-loop current sensors expected to grow at the highest CAGR during the forecast period”

The Hall-Effect current sensor market for closed-loop current sensor is expected to grow at the highest CAGR between 2017 and 2023. Closed-loop current sensors help end users by providing higher accuracy and faster response time for current sensing applications.

“Hall-Effect current sensor market for the automotive industry to grow at the highest CAGR between 2017 and 2023”

The automotive industry is expected to witness the highest CAGR in the overall Hall-Effect current sensor market between 2017 and 2023. In the automotive industry, current measurement is required for applications such as current control, protection of devices from overcurrent, and power management including control of motor drives, converter control, overcurrent protection, and battery management. The growing demand for eco-friendly electric and hybrid electric vehicles in the automotive industry would drive the Hall-Effect current sensor market.

“Asia Pacific expected to lead the Hall-Effect current sensor market between 2017 and 2023”

Asia Pacific is expected to hold the largest size of the Hall-Effect current sensor market during the forecast period. This is mainly attributed to the high growth in emerging economies such as China, India, South Korea, and Japan, where there is a rising need for power management. With the growing trend of cloud connectivity in APAC, industries would adopt Industrial Internet of Things (IIoT)-based current sensors for current measurement applications in this region.

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Atomic Force Microscopy (AFM) Market worth $586 million by 2024

The report "Atomic Force Microscopy (AFM) Market by Offering (AFM, Probes, Software), Grade (Industrial Grade, Research Grade), Applications (Materials Science, Life Sciences, Semiconductor & Electronics, Academics), and Region - Global Forecast to 2024",was valued at USD 441 million in 2019 and is projected to reach USD 586 million by 2024; it is expected to grow at a CAGR of 5.8% during the forecast period. The key drivers of atomic force microscopy is committed support from several governments to promote  nanotechnology and nanoscience research and development. Also, high demand for 3D ICs from semiconductor and electronics industry is is expected to lay new growth opportunity for atomic force microscopy market during the forecast period.

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The major players in Atomic Force Microscopy market are Bruker (US), Park Systems (South Korea), Hitachi (Japan), Horiba (Japan), Oxforfd Instrumenst (UK), Nanosurf (Switzerland), WITec (Germany), NT-MDT (Russia), NanoMagnetics Instruments (UK), Nanonics Imaging (Israel).

Probes offering for Atomic Force Microscopy held the fastest market share in 2019

The market for probes is expected to grow at the highest CAGR. Probes play a dominant role in the AFM market, in terms of volume, as the lifecycle of probes is shorter than the complete atomic force microscope, thereby leading to a higher requirement for probes than AFM.

Industial grade to hold the largest market share in Atomic Force Microscopy market during the forecast year

The demand for indusrial grade microscopes is propelled by high-quality images to detect defects in miniaturized products. Hence, industrial grade AFM are more in demand owing to their high precision in detecting and visualizing even the smallest surface structures and defects in nanomaterials.

Semiconductors and electronics to hold the fastest market share in Atomic Force Microscopy market during the forecasted year

Semiconductors and electronics is expected to grow at the highest rate. The semiconductor industry is one of the major industries using advanced microscopes such as transmission electron microscopes, atomic force microscopes, 3D optical microscopes, and confocal microscopes. AFM is used extensively in the semiconductor industry for R&D, quality control (QC), monitoring process development, and failure analysis. The growing demand for miniature transistor chips, nanoelectronics, quantum dots, and optoelectronics is the key factor surging the demand for microscopes in the semiconductor industry

APAC hold the largest market share between 2019 and 2024

The growth of the atomic force microscopy in APAC market can be attributed to the growing R&D funding for the development of microscopes, increasing nanotechnology research, and growing expertise and academic excellence, along with the availability of nanomaterials at lower costs.

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Borescope Market expected to reach $ 837 million by 2024

According to the new market research report “Borescope Market by Type (Video, Flexible, Endoscope, Semi-rigid, Rigid), Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, Above 10 mm), Angle (0° to 90°, 90° to 180°, 180° to 360°), Industry, and Region - Global Forecast to 2024” the borescope market size is estimated to reach USD 837 million by 2024 from USD 674 million in 2019 at a CAGR of 4.4%.

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Major players involved in the Borescope market include Olympus (Japan), SKF (Sweden), Baker Hughes (US), FLIR (US), Stanlay (India), FLUKE (US), Vizaar (Germany), AIT (US), Gradient Lens Corporation (US), and JME Technologies (US).

A borescope is an optical tool used for visual inspection. The optical device consists of a rigid or flexible tube with a display on one end and an objective lens or camera on the other end, where both the ends are linked together by an optical or electrical system. Borescopes are used for visual inspection in various industries such as aviation, automotive, power generation, oil & gas, and manufacturing. The growth of the market is propelled by the requirement for high operational productivity and the growing need for power generation plant maintenance.

“Video borescope to hold the largest share of the overall market from 2019 to 2024”

Video borescopes are used for real-time inspection of engines and other parts such as cylinders, mufflers, and transmissions systems. They help to reduce the repair time and cost as inspections become easy without dismantling the parts. Video borescopes have a large diameter, and high range compared to other types of borescopes and provides high-quality images, which is likely to contribute to the largest market share during the forecast period.

“Borescope market for 0° to 90° to grow at the highest CAGR during the forecast period”

A borescope has 0° angle for straight-on viewing, while a borescope that provides a side view of a tube has a 90° angle. Borescopes with the latter viewing angle are able to inspect piping and other narrow cavities with greater detail than a straight-ahead borescope. The high growth for 0° to 90° borescopes can be attributed to increasing demand from industries such as aviation, automotive, and power.

“Borescope market for the automotive industry to grow at highest CAGR from 2019 and 2024”

Visual inspection of engines and other parts of the vehicle such as cylinders and fuel pipes is important for ongoing automotive maintenance. They help to reduce the repair time and cost, as inspections become easy without dismantling the parts. A borescope is used for visualizing dark, small, and hard to reach out places.

“APAC to be the fastest-growing market for borescope during the forecast period”

The borescope market in APAC is expected to grow at the highest CAGR during 2019–2024. The growth of the market in this region can be attributed to increasing infrastructure advancements and adoption of automation in manufacturing industries. Therapid growth of automotive, power generation, and oil & gas industries in emerging economies, such as China, India, and Japan, have contributed to the growth of the borescope market in APAC.

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Compound Semiconductor Market worth $53.0 billion by 2024

According to the new research report "Compound Semiconductor Market by Type (GaN, GaAs, InP, SiGe, SiC, GaP), Product (LED, RF, Optoelectronics, Power Electronics), Application (Telecommunications, General Lighting, Military & Defense, Datacom, Automotive), Geography - Global Forecast to 2024", The compound semiconductor market is expected to grow from USD 37.2 billion in 2019 to USD 53.0 billion by 2024, at a compound annual growth rate (CAGR) of 7.3%. Increasing adoption of compound semiconductors, including GaN, GaAs, and InP, is expected to drive the growth of the compound semiconductor market during the forecast period.

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Nichia (Japan), Samsung Electronics (South Korea), OSRAM (Germany), Qorvo (US), Skyworks (US), Cree (US), GaN (Canada), Infineon (Germany), Mitsubishi Electric (Japan), NXP Semiconductors (Netherlands), ON Semiconductor (US), Analog Devices (US), Broadcom (US), Efficient Power Conversion (US), Lumentum (US), NeoPhotonics (US), San’an Optoelectronics (China), and STMicroelectronics (Switzerland) are among the major players in the compound semiconductor market.

GaN to hold major share of compound semiconductor market during forecast period

Based on type, GaN is expected to hold the largest market share for the compound semiconductor market. Gallium nitride (GaN) is among the most prominent compound semiconductor materials. GaN has its major application in LEDs, which are widely used in general lighting and commercial lighting. GaN is clubbed in structures such as GaN-on-Si and GaN-on-sapphire that are used in lighting applications. GaN has been increasingly used in LED, semiconductor power devices, and radio frequency (RF) devices. GaN LEDs are used in applications such as general lighting, consumer devices, commercial, and automotive. Therefore, rising adoption of GaN is expected to provide market opportunities. GaN devices will have ample opportunities once 5G deployment becomes the mainstream. In the military segment, GaN application varies from electronic warfare to radar to communications. GaN technology is helping designers meet reduced size, weight, and power requirements for the EW system. Power electronics is another important area for GaN. GaN-based power devices will play a key role in the power conversion market. GaN offers similar performance benefits as that of SiC but at low cost. This price and performance advantage is possible because GaN power devices can be grown on silicon substrates that are larger and less expensive than SiC.

Telecommunications application to dominate compound semiconductor market during forecast period

The telecommunications application is expected to hold the largest market share of the compound semiconductor market owing to increased usage of compound semiconductors such as GaAs, GaN, InP, and SiGe. 5G provides a huge opportunity for compound semiconductors for telecom applications. For power amplifiers and low noise amplifiers GaAs is the choice as it offers advantages in meeting the strict linearity requirements. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, GaN is also expected to gain importance in telecommunications application in the coming years. Recently, Qorvo launched 28 GHz gallium nitride (GaN) front-end module (FEM) to reduce overall system cost for base station equipment.

APAC to hold major share of compound semiconductor market by 2024

APAC is leading market for compound semiconductors. APAC presents huge opportunities for the compound semiconductor device market owing to the growing demand for these devices in numerous verticals including telecommunications, lighting, automotive and military, and aerospace and defense in Asian countries such as China, Japan, and South Korea. Leading application of RF is telecom while for GaN it is LED. LED and RF are major products for the compound semiconductor market in APAC, while power electronics exhibit high potential for the market in APAC. LEDs are expected to dominate the overall compound semiconductor market owing to the high adoption in lighting applications in APAC. China and Japan are leading countries for consumption of LEDs; however, developing countries in APAC are also expected to exhibit growth potential during the forecast period. Automotive lighting is the fastest-growing application of the LED market. Increasing penetration of LEDs in various types of vehicles is expected to drive the growth of automotive LEDs.

Telecommunication is among the most important applications of the compound semiconductor market in APAC. The market is driven by increasing adoption of compound semiconductors in telecom infrastructure, as well as in devices such as smartphones.

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Smart Badge Market expected to reach $33.8 billion by 2025

The report "Smart Badge Market by Communication (Contact and ContactLess), Type (With Displays and Without Displays), Application (Government & Healthcare, Corporate, and Retail & Hospitality) and Region (NA, EU, APAC, ROW) - Global Forecast to 2025", is estimated to grow from USD 21.1 billion in 2020 to USD 33.8 billion by 2025, at a CAGR of 9.9% between 2020 and 2025. Increasing demand for wearable access control devices for security management is the major factor driving the growth of the market.

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Browse 70 market data Tables and 88 Figures spread through 146 Pages and in-depth TOC on "Smart Badge Market by Communication (Contact and ContactLess), Type (With Displays and Without Displays), Application (Government & Healthcare, Corporate, and Retail & Hospitality) and Region (NA, EU, APAC, ROW) - Global Forecast to 2025"

Some of the leading players in this market are Thales Group (Gemalto) (France), ASSA ABLOY AB (HID Global Corporation) (Sweden), Giesecke+Devrient GmbH (Germany), Brady Worldwide, Inc. (US), IDEMIA (France), Evolis (France), Identiv Inc. (US), BEAM (US), AIOI-SYSTEMS CO., LTD. (DISPLAY IT CARD) (Japan), Watchdata (Singapore), and Identita (Canada). The other players operating in the market include Blendology (UK), Squarofumi (China), KONA I Co. Ltd. (South Korea), Proxfinity Inc. (US), Klik (Canada), Global Net Solutions (GNS) (US), CardLogix Corporation (US), MpicoSys Solutions B.V. (Netherlands), AbeeWay (France), and HierStar Ltd. (China).

“Government & healthcare is the most attractive segment that is gaining attention in the smart badge industry.”

In 2019, the government and healthcare segment held the largest share of the smart badge market. The growth of this segment of the market can be attributed to the adoption of smart badges for access control and critical data storage, as well as to ensure national security. The governments of developed and developing countries rely on the sprawling patchwork of systems to identify and manage people using smart cards.

“Smart badge market in APAC expected to grow at the highest CAGR during the forecast period.“

APAC accounted for the largest share of the smart badges market with displays in 2019, owing to the presence of a large consumer base of these badges in the region. A major portion of the demand for smart badges with displays is from China, followed by Japan and South Korea. However, the market in North America is projected to grow at the highest CAGR during the forecast period. North America has always been a forerunner in adopting new and innovative technologies. Countries of North America are developed economies. As such, the adoption rate of information and communication and smart wearable technologies is the highest in the region.

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.

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