Neuromorphic Computing Market is expected to be valued at $550,593 thousand by 2026

 

According to a research report "Neuromorphic Computing Market With Covid-19 Impact by Offering, Deployment, Application (Image Recognition, Signal Recognition, Data Mining), Vertical (Aerospace, Military, & Defense, Automotive, Medical) and Geography - Global Forecast to 2026" published by MarketsandMarkets, the neuromorphic computing market is expected to be valued at USD 22,743 thousand in 2021 and is projected to reach USD 550,593 thousand by 2026; it is anticipated to grow at a CAGR of 89.1% during the forecast period (2021–2026).

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The major factors driving the growth of the neuromorphic computing market are need for better performing ICs, increase in demand for artificial intelligence and machine learning, and increasing number of cross-industry partnerships and collaborations. However, several factors, such as lack of knowledge about neuromorphic computing and complex algorithms increasing complexity of designing hardware of neuromorphic chips are hindering the growth of neuromorphic computing market. Moreover, matching a human’s flexibility and ability to learn from unstructured stimuli data can act as a key challenge in the market during the forecast period.

Software is projected to witness the highest CAGR for the forecast period

Hardware are expected to hold a major share during the forecast period. The emergence of neuromorphic chips as a potential replacement for Von Neumann architecture, wherein they have separate units for storing information, and processing it sequentially limits memory usage, power consumption, and speed is expected to be the major driver for its growth during the initial years of commercialization. While the increasing adoption of software in industries such as aerospace & defense, IT & telecom, and medical would drive the growth of the market for neuromorphic computing software during the forecast period to register a higher CAGR.

Image Recognition to account for largest share of neuromorphic computing market during forecast period

Image Recognition is expected to witness rapid growth in the overall neuromorphic computing market. Aerospace, military & defense is the largest industrial user segment for image recognition, where it is used for surveillance and security, tracking, and targeting, and in drones. The growth of the image recognition segment is expected to be driven by the increasing adoption of drones and UAVs. Video monitoring and machine vision are the major uses driving the growth of the market for image recognition.

Edge Computing will have highest growth in coming years

The edge computing segment is expected to account for a 95% share of the overall neuromorphic computing market by 2026. The high growth of edge computing is attributed to its increasing use in applications such as responsive voice control for vehicles, full-body gesture recognition for touchless interfaces, and on-board intelligence for assistive robotics. Neuromorphic computing at edge is also apt for low-power and low-latency applications, and on-device adaptation.

Aerospace, Military, & Defense vertical is expected to hold the largest share in 2026

Neuromorphic computing can process information faster than any other processor; this helps the military & defense industry in processing sensitive data such as battlefield data, including weapons and resources management. Increasing requirement for testing and transmitting signals to securely code and transmit data from one end to another to reduce the threat of security issues is another factor driving the growth of the neuromorphic computing market for the aerospace, military & defense industry.

APAC is attributed to grow at the highest CAGR in the neuromorphic computing market during the forecast period (2021-2026)

APAC is expected to hold the second-largest share of ~37% of the global neuromorphic computing market in 2021. Countries such as China, Japan, and South Korea are expected to be the major contributors to the neuromorphic computing market in APAC. China is the largest market for AI, followed by Japan, in APAC; this makes the country an attractive market for neuromorphic computing for machine learning and NLP applications. While North America is expected to hold the largest share of ~40% of the global neuromorphic computing market in 2021. Extensive awareness about the benefits of neuromorphic computing in industries such as aerospace, military & defense and medical is a major driver for the dominance of this region. The US, being the leading adopter of artificial intelligence for machine learning, natural language processing (NLP), image processing, and speech recognition across industries such as medical and automotive, is driving the growth of the neuromorphic computing market in North America.

Key Market Players

The neuromorphic computing market was dominated by Intel Corp. (US), IBM Corporation (US), BrainChip Holdings Ltd. (US), Qualcomm (US) and HP Enterprise (US).

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Artificial Intelligence (Chipsets) Market size is expected to reach $57.8 billion by 2026

 

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 region - Global Forecast to 2026", The global AI (chipsets) market size is expected to be valued at USD 7.6 billion in 2020 and likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period. Major drivers for the market are increasingly large and complex datasets driving the need for AI, the adoption of AI for improving consumer services and reducing operational costs, the growing number of AI applications, the improving computing power, and growing adoption of deep learning and neural networks.

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The computer vision technology projected to grow at the highest CAGR during the forecast period

Computer vision technology is expected to grow at the highest CAGR in the AI (chipsets) market during the forecast period. The growing adoption of computer vision in autonomous or semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI (chipsets) market.

The GPU segment is expected to grow the fastest during the forecast period

The market for GPUs is expected to grow at the highest CAGR during the forecast period. This growth is attributed to high parallel computing offered by GPUs and increasing adoption of GPUs at servers/edge devices for processing various AI applications/solutions across industry verticals. GPUs and FPGAs are widely used to implement machine learning algorithms. In terms of throughput, GPUs are ~100 times faster than FPGAs, whereas, in terms of power efficiency, FPGAs are 50 times better than GPUs. GPUs are used extensively to accelerate computational workloads, and their capabilities are growing faster than those of x86 CPUs

AI (chipsets) for the manufacturing industry is expected to grow at highest CAGR during the forecast period

The AI (chipsets) market for the manufacturing industry is expected to witness the fastest growth during the forecast period. This growth is attributed to increasing factory automation and growing demand to reduce operational costs. Additionally, trends such as Industry 4.0 are boosting the growth of AI (chipsets) in the manufacturing sector.

AI (chipsets) market in APAC projected to grow at the highest CAGR from 2020 to 2026

The market in APAC is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the adoption of AI services in end-user industries such as manufacturing, healthcare, and automotive in countries such as Japan, China, Australia, and South Korea. Additionally, declining AI hardware costs and increasing demand to improve consumer services are supplementing the growth of the AI (chipsets) market in APAC.

Some of the major players in the AI (chipsets) market are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), Xilinx, Inc. (Xilinx) (US), Samsung Electronics Co., Ltd. (Samsung) (South Korea), Micron Technology, Inc. (Micron) (US), Qualcomm Technologies, Inc. (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), Advanced Micro Devices, Inc. (AMD) (US), General Vision, Inc. (US), and Huawei Technologies Co., Ltd. (Huawei) (China).

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Cryocooler Market expected to grow USD $3.1 billion by 2025

 

The report "Cryocooler Market with COVID-19 Impact and Analysis by Type (GM, PT, JT, Stirling, Brayton), Offering (Hardware, Services), Heat Exchanger (Recuperative, Regenerative) Operating Cycle (Open,Closed loop), Application, and Geography - Global Forecast to 2025", is expected to grow to USD 3.1 billion by 2025 from an estimated USD 2.3 billion in 2020, at a CAGR of 6% during 2020-2025 period. The rising adoption of cryocoolers in semiconductor industry, superconducting magnets, and power systems, along with surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in healthcare sector are major factors driving the growth of cryoclooer market globally. The other key factors driving the growth of  the market includes the increasing demand for cryocoolers in space applications and the development of cryocoolers for microsatellite military applications.

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Regenerative heat exchanger cryocooler to hold largest market share during forecast period

The market for regenerative heat exchangers cryocooler type is expected to account larger share during the forecast period. The major factors contributing to the growth of the market include the increasing adoption of regenerative heat exchangers in GM, PT, and Stirling cryocoolers. In addition, these cryocoolers are used in a wide range of applications in military, space, medical, energy, agriculture and biology, and other sectors, which is leading to the high consumption of these heat exchangers.

Closed-loop cycle cryocooler is expected to witness the highest growth rate during the period 2020 and 2025

The closed-loop cycle cryocoolers are expected to grow at the highest rate during the forecast period mainly due to their broader application areas, which include IR detectors/ sensors, thermal cameras, magnetic resonance imaging (MRI), surgical probes, night vision systems, superconducting devices, and commercial refrigerators. Recent technological advancements have led to the development of high-temperature infrared detectors with a cooling range between 150 and 200 K. Closed-cycle systems such as JT cryocoolers are being used in a wide range of applications in night vision systems due to the absence of mechanical parts, miniature size, and rapid cooling capacity.

Cryocooler market for military application to hold largest market share between 2020 and 2025

The military application is likely to hold the largest market size among all the applications of cryocoolers from 2020 to 2025. The major factors contributing to the growth of this market include the rising adoption of cryocoolers in cooling infrared sensors used in military applications. The cryocoolers are used to cool down the infrared sensors to ~80 Kelvin. In addition, the growing demand for night vision surveillance and missile detection from satellites over the last few years has led to the increasing use of cryocoolers. Moreover, cryocoolers are used in high-end systems and detectors such as missile warning systems, UAVs, miniature payloads, thermal weapon sights, and airborne enhanced vision systems (EVS).

Americas to hold largest share of cryocooler market during forecast period

The Americas is expected to hold the largest share of the cryocooler market during 2020–2025. The Americas is estimated to account for the largest market share of cryocoolers from 2020 to 2025. The US and Canada are among the leading countries in the world in terms of medical research, healthcare innovation, and expenditure on healthcare imaging equipment, medical cryosurgery, and proton therapy. Cryocoolers in the Americas also finds huge applications in satellite monitoring and missile guidance in military applications.

The report profiles key players such as Sumitomo Heavy Industries (Japan), Chart Industries (US), Sunpower (US), Cryomech (US), Northrop Grumman Corporation (US), Advanced Research Systems (US), DH Industries (The Netherlands), Janis Research Company (US), RICOR – Cryogenic & Vacuum Systems (Israel), Superconductor Technologies (US), and Air Liquide (France).

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Magnetic Sensor Market expected to reach $6.2 billion by 2025

 

The report "Magnetic Sensor Market with COVID-19 Impact Analysis by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), SQUID, Fluxgate), Range (<1microgauss, 1microgauss-10gauss, and >10gauss), Application, End-user Industry, Geography - Global Forecast to 2025 ",magnetic sensor size is projected to reach USD 6.2 billion by 2025 from an estimated USD 4.3 billion in 2020, at a CAGR of 7.7% from 2020 to 2025. Intensifying focus of manufacturers towards producing 3D magnetic sensors and unceasing growth of consumer electronics industry are among the factors driving the growth of the magnetic sensor market.

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Magnetoresistive sensors segment to projected to register highest CAGR between 2020 to 2025

The magnetoresistive sensors have a wide operating range and possess features and functionalities such as inherently low hysteresis, low power consumption, and high linearity for improved measurement accuracy as compared with Hall effect sensors. Also, the cost of magnetoresistive sensors is decreasing gradually, which will boost the market for these sensors in various applications during the forecast period. Thus, the magnetoresistive sensors segment is projected to grow at the highest CAGR during the forecast period.

By range, >10 gauss segment is projected to register highest CAGR between 2020 and 2025

The >10 gauss segment of the market is projected to grow at a higher CAGR from 2020 to 2025 than the 1 microgauss–10 gauss and <1 microgauss segment. The growth of the >10 gauss segment can be attributed to the increasing demand for driverless cars and green vehicles.

By application, speed sensing applications is projected to grow at the highest CAGR during the forecast period

The speed sensing applications is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to the rising demand for highly accurate, small size, simple design, reliable, and pocket-friendly magnetic speed sensors in the automotive industry. In the automotive industry, speed sensors are found in anti-lock braking system (ABS), engine camshafts/crankshafts, speedometers, and automatic transmissions.

By region, APAC magnetic sensor market estimated to grow at highest CAGR throughout forecast period

In 2019, APAC held the largest share of the magnetic sensor market. The market in the region is expected to grow at the highest CAGR from 2020 to 2025. The growth of the magnetic sensor market in APAC can be attributed to the growing population in countries of APAC. The region houses some of the world’s highly populated countries, including Chain and India. These countries are witnessing large sales of smartphones and tablets. This, in turn, drives the growth of the magnetic sensor market in APAC.

Asahi Kasei Corporation (Japan), Allegro MicroSystems, LLC (US), Infineon Technologies AG (Germany), TDK Corporation (Japan), Melexis (Belgium), Honeywell International Inc. (US), TE Connectivity (Switzerland), ams AG (Austria) are some of the key players in the magnetic sensor market.

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

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

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Interactive Display Market expected to reach $13.2 billion by 2025

 

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", is expected to grow from USD 9.0 billion in 2020 to USD 13.2 billion by 2025, at a CAGR of 8.1%. The market growth can be attributed to several factors, such as growing demand for gamification and digital classrooms, growing adoption of interactive displays in retail sector, declining price of displays, easy availability of interactive products, and increased end-user engagement by using interactive displays for various applications—such as learning, presentations, signage, wayfinding, and ticketing.

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Interactive whiteboard held the largest share of the interactive display market in 2019

The advent of interactive learning and advancements in teaching methodologies drive the growth of the market for interactive whiteboards. Due to rapid advancements in technology, companies focus on innovation to provide variety and additional features in products. Researchers associated with different companies are focusing on integrating new technologies in conventional interactive white board to make them user-friendly and interactive. Artificial Intelligence (AI) is one such technology, which provides huge opportunities for the interactive whiteboard market to grow.

32–65” held the largest share of the interactive display market in 2019

Interactive displays with screen sizes between 32 inches and 65 inches are mainly used in the healthcare and hospitality sectors. Besides, these screens are also used in restaurants as menu boards to indicate prices, ingredients, and waiting time of the orders taken from customers. In the healthcare sector, many interactive healthcare smart displays are specially designed for the hospital environment.

Flat panel type to dominate the interactive display market during the forecast period

The interactive display market is currently dominated by the flat panel displays only. The other 2 panel types are in a very nascent stage in the interactive ecosystem, as of now, and are expected to grow at a high rate during the forecast period. Going forward, transparent displays are expected to be used more in interactive tables, kiosks, and monitors.

North America is leading the market for interactive display in 2019

North America is the leading region in terms of market size related to interactive display applications. The interactive display market is estimated to grow significantly over the next few years in North America. In the current market scenario, the US dominates the interactive display market in North America. Mexico is expected to rapidly adopt interactive displays in the near future. Therefore, the interactive display market is expected to have potential opportunities in North America.

Some of the key companies operating in the market are 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), Horizon Display (US), and so on.

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

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

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

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Edge AI Hardware Market is projected to grow 2,080 million Units by 2026

 

According to a research report "Edge AI Hardware Market with COVID-19 Impact Analysis device, Processor (CPU, GPU, and ASICs), End User, Function (Training and Inference), Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region - Global Forecast to 2026" published by MarketsandMarkets, the edge AI hardware market is projected to grow from 920 million units in 2021 to 2,080 million units by 2026; it is expected to grow at a CAGR of 17.7% from 2021 to 2026.

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The key factors contributing to the growth of the market include growth in demand for low latency and real-time processing on edge devices, emergence of AI coprocessors for edge computing, reduction in data storage and operations cost, Increase in enterprise workloads on the cloud and rapid growth in the number of intelligent applications.

Smartphones to hold the largest market share during the forecast period in the edge AI hardware market

In terms of volume, smartphones accounted for the largest share of nearly 75% of the edge AI hardware market for devices in 2020. The increasing demand for smartphones could drive the growth of the edge AI hardware market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security.

Use of edge AI hardware among consumer electronics is expected to witness the largest share during the period 2021 and 2026

The consumer electronics segment holds a major share in terms of volume. This is due to the rising consumer spending and demand for consumer electronics. The demand for smartphones, smart wearables, and other devices is witnessing strong growth. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of consumer electronics in the edge AI hardware market.

APAC to grow at the largest CAGR in edge AI hardware market during the forecast period

In APAC, China is the largest market for artificial intelligence, followed by Japan; this makes the region an attractive market for edge AI hardware applications. The presence of a large number of manufacturing companies, along with the strong presence of automobile and electronics and semiconductor companies, in China and Japan drives the growth of the edge AI hardware market in APAC. Applications such as smartphones, industrial robots, and automotive have huge potential. With the growing penetration of smartphones in China, Japan, India, and South Korea, the adoption of AI processor-enabled smartphones in APAC is expected to increase in the coming years. APAC is also one of the largest markets for industrial robots, surveillance cameras, and wearable devices, which are integrated with vision processing units to accelerate AI tasks.

The report profiles key players such as Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology (US), Xilinx (US), Google (US), Microsoft (US) and AMD (US).

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

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

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Industrial PC Market is estimated to reach $6.1 billion by 2026

 

According to a research report "Industrial PC Market with COVID-19 Impact Analysis by Type (Panel, Rack Mount, Box, Embedded, and DIN Rail), Specification, Sales Channel (Direct, Indirect), Industry (Process, Discrete), and Region - Global Forecast to 2026" published by MarketsandMarkets, the global industrial PC market size is estimated to reach USD 6.1 billion by 2026 from USD 4.6 billion in 2021, growing at a CAGR of 5.8%. The market growth is fueled by increasing demand for industrial IoT, a steady shift towards digitalized manufacturing from traditional methods, growing awareness for resource optimization in manufacturing industries, and stringent regulatory compliances.

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“Panel IPC to hold the largest size of the industrial PC market from 2021 to 2026.”

Panel industrial PCs are the most commonly used industrial PCs in the process and discrete industries for data acquisition and process control operations. These PCs are designed to operate in rugged industrial environments to meet the requirements of visualization applications in the manufacturing industries. The distinctive features of panel industrial PCs include compact chassis, high performance, enhanced flexibility, improved safety control, and user-friendly touchscreens.

“Direct sales market for industrial PC to grow at higher CAGR during the forecast period”

The direct sales channel offers various advantages to the industrial PC manufacturers; they cater to the customization requirements of the end-user industries and eliminate resellers’ markup and the costs and risks associated with carrying large finished goods inventories. Due to these factors, the market for direct sales channels is expected to grow at the highest rate during the forecast period.

“Industrial PC market for discrete industries to grow at higher CAGR from 2021 to 2026”

The discrete industries are often characterized by the production of individual or separate units; wherein units can be produced in low volume with high complexity or high volumes with low complexity. The increasing demand for improved process flexibility and enhanced efficiency, comprehensive integration of quality and regulatory requirements, harmonized production processes for optimum supply chain management, and the constant pressure of reducing maintenance and operation costs in the discrete industries are expected to propel the adoption of industrial PCs in these industries in the near future. In addition, the advent of novel technologies and materials, an increasing number of market players venturing in the markets, and rising necessity of sustained plant productivity and efficiency, among others, are expected to fuel the growth of the industrial PC market for the discrete industries.

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

The industrial PC market in APAC is expected to grow at the highest CAGR during 2021—2026. Rapid industrialization, increasing infrastructural investments in the energy & power sector, and favorable government policies encouraging foreign players to enter the industrial PC market in APAC are expected to augment the growth of the market during the forecast period. The high-tech medical devices manufacturing companies are actively focusing on geographical expansions due to the growing demand for healthcare services, increasing concern pertaining to health, and rising investments in R&D. This is likely to fuel the growth of the industrial PC market in APAC during the forecast period.

Major players involved in the global industrial PC market include Advantech (Taiwan), Beckhoff Automation (Germany), Siemens (Germany), IEI Integration Corporation (Taiwan), Kontron S&T (Germany), Nexcom International (Taiwan), B&R Automation (Austria), Avalue Technology (Taiwan), DFI (Taiwan), and American Portwell Technology (US).

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