Smart Home Market worth 137.91 Billion USD by 2023

The report "Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment & Other Control, Home Healthcare, Smart Kitchen, and Home Appliances), Software & Service (Behavioral, Proactive), and Geography - Global Forecast to 2023", the smart home market is expected to be valued at USD 137.91 Billion by 2023, growing at a CAGR of 13.61% between 2017 and 2023. The growth of the smart home market can be attributed to the significant advancements in the IoT market; increasing need for convenience, safety, and security; and rising demand for energy saving and low carbon emission-oriented solutions.

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The market for home appliances is likely to grow at a high rate between 2017 and 2023.

The increasing cost of electricity is a major concern for household consumers. These increasing costs are influencing the households to save energy. Smart home appliances can communicate among themselves and have emerged as an effective solution to save energy. Thus, households are increasingly adopting smart home appliances to minimize their energy costs. The smart home market for home appliances is expected to grow at a high rate between 2017 and 2023 owing to the advancements in electronics and communication technologies. Factors such as rising purchasing power and changing lifestyles of people are driving the demand for smart home appliances worldwide.

Smart meters held the largest share of the smart home market in 2016.

Smart meters enable end users to calculate their real-time energy consumption levels on a daily basis. They provide information regarding the use of energy at different times during the day, enabling them to take appropriate steps to cut down their energy costs. Thus, smart meters are expected to hold a major share of the smart home market by 2023.

The smart home market in APAC is expected to grow at a high rate between 2017 and 2023.

The smart home market in APAC is expected to grow at a high rate between 2017 and 2023, owing to the rising number of new residential projects and the increasing initiatives to strengthen the building infrastructure in the region. The presence of a huge end-user base in advanced economies such as Japan and South Korea and the growing demand for energy management systems are also expected to fuel the growth of the smart home market in this region.

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The major companies operating in the smart home market include Siemens AG (Germany), United Technologies Corporation (US), General Electric Company (US), Schneider Electric (France), Honeywell International, Inc. (US), Ingersoll-Rand PLC (Ireland), Johnson Controls, Inc. (US), ABB Ltd. (Switzerland), Legrand S.A. (France), Samsung Electronics Co., Ltd. (South Korea), Acuity Brands, Inc. (US), Lutron Electronics Co. Inc. (US), and Leviton Manufacturing Company, Inc. (US).

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Electrostatic Precipitator Market worth $7.0 billion by 2023

The report "Electrostatic Precipitator Market by Type (Dry Electrostatic Precipitator and Wet Electrostatic Precipitator), Vertical (Power & Electricity, Metals, Cement, Chemicals), Offering, and Geography - Global Forecast 2018 to 2023", the overall electrostatic precipitator market is expected to grow from USD 5.8 billion in 2018 to USD 7.0 billion by 2023, at a CAGR of 3.97%. Tightening air pollution control regulations, growth in coal-fired power plants, and growing environmental concerns are the key factors driving the growth of this market.

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Dry ESP type is expected to gain a significant share of the electrostatic precipitator market by 2023

The dry ESP type accounts for the largest share of the electrostatic precipitator market. Its dominance in the market, in terms of size, can be attributed to its ability to withstand high temperatures and high particulate volumes, cost-effectiveness, and low electricity consumption, which makes it ideal for installations in thermal power & electricity, cement, glass manufacturing, pulp & paper, and metals processing plants. Additional benefits in terms of cost-effectiveness and low electricity consumption resulting in lower operational cost have led to high adoption of dry ESPs.

Electrostatic precipitator market for “others” end-user category to grow at the highest CAGR from 2018 to 2023

The market for “others” end-user category is expected to grow at the highest CAGR from 2018 to 2023. High volume of pollutant released into the environment by pulp and paper, glass, and mining companies has resulted in higher adoption of electrostatic precipitators in the “others” category. Over the years, several prominent market players have delivered electrostatic precipitators for these end users. For instance, in November 2017, General Electric (US) delivered an electrostatic precipitator to replace an old air filtration system at a copper mine in Australia.

Key players in the market include General Electric (US), Mitsubishi Hitachi Power Systems (Japan), Siemens (Germany), Amec Foster Wheeler (UK), Babcock & Wilcox (US), Thermax Global (India), Ducon Technologies (US), Fujian Longking (China), Hamon Group (Belgium), and Trion (US). These players are increasingly undertaking contracts and expansions to increase their market shares.

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The electrostatic precipitator market in RoW to grow at the highest CAGR during the forecast period

The electrostatic precipitator market in RoW is expected to grow at the highest CAGR during the forecast period. Investments toward installing electrostatic precipitators in various end-use industries, such as power & electricity, steel, and chemicals, are increasing, which is expected to create opportunities for the growth of the electrostatic precipitator market. Several companies have received contracts to install electrostatic precipitators. For instance, in June 2017, General Electric (US) received a contract to modernize 2 Turkish coal power plants, which involved delivering electrostatic precipitator under its Fleet360 solution.

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Artificial Intelligence Market worth 190.61 Billion USD by 2025

According to the latest 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 grow from USD 21.46 Billion in 2018 to USD 190.61 Billion by 2025, at a CAGR of 36.62% between 2018 and 2025. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts.

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Artificial intelligence market for services to grow at highest CAGR during forecast period

The market for services is expected to grow at the highest CAGR between 2018 and 2025. The adoption of AI is rapidly increasing in various applications. As AI is a complex technology requiring the implementation of sophisticated algorithms, AI-based systems require deployment and integration, and support and maintenance services. Also, most companies that manufacture and develop AI-based systems and related software provide both online and offline support, depending on the application.

Artificial intelligence market for manufacturing end-user industry to grow at highest CAGR during forecast period

Of all the end-use industries, the market for manufacturing is expected to grow at the highest CAGR during the forecast period. Increasing data volume derived from the manufacturing value chain has led to the involvement of AI-enabled data analytics in the manufacturing sector. In addition, several industry initiatives, such as Industry 4.0, a connected manufacturing initiative by the Government of Germany, have proliferated the growth of AI-enabled devices in manufacturing.

North America to hold largest market share, and market in APAC to witness highest growth

North America is expected to hold the largest share of the artificial intelligence market between 2018 and 2025. North America, being technologically advanced, is a leader in the market. It is the early adopter of the latest technologies; moreover, awareness about the benefits of artificial intelligence is high in the region. In addition, the presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook (US), MetaMind (US), Tute Genomics (US), and AWS (US), is complementing the growth of the market in this region.

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The artificial intelligence market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is driving the market in APAC.

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District Heating Market worth $203.0 Billion by 2023

The report "District Heating Market by Heat Source (Coal, Natural Gas, Renewable, Oil & Petroleum Products), Plant Type (Boiler Plant, CHP), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023", The district heating market is expected to grow from USD 170.7 billion in 2018 to USD 203.0 billion by 2023, at a compound annual growth rate (CAGR) of 3.5% during the forecast period. The major factors driving the district heating market include increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization.

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Renewable heat source to grow at highest CAGR in global district heating market during forecast period

Renewable heat sources help in meeting the rising energy needs, improving efficiency, reducing greenhouse gas emission, and improving climate conditions. Geothermal heat source uses one or more production fields as heat sources to supply district heating to residential and commercial buildings. Solar heating converts energy from the sun into heat; it uses solar panels that are often arranged on a building or concentrated in solar farms to facilitate a clean heat source. As a CO2-free power source, the environmental impact of the solar heat source is significantly smaller than other power generation methods.

CHP plant type to hold major share of global district heating market during forecast period

CHP helps reduce the capital investment, provides economies of scale, reduces heat losses to the environment, and substitutes the use of fossil fuels for district heating, which, in turn, lead to the reduction of greenhouse gas emissions. Moreover, CHP makes a district heating system an efficient energy solution for residential and commercial entities that show significant demand for district heating.

Residential application to dominate global district heating market during forecast period

Favorable government incentives such as more focus on energy-efficient products have led to the increased adoption of district heating in residential application. Moreover, continuous urban development is boosting the demand for district heating. Growing urbanization leads to organized infrastructure developments suitable for district heating solution. Growing urban cities create a demand for sustainable, efficient, and reliable utility services including district heating and electricity production.

Fortum (Finland), Vattenfall (Sweden), Engie (France), Danfoss (Denmark), NRG Energy (US), Statkraft (Norway), Shinryo Corporation (Japan), LOGSTOR (Denmark), Vital Energi (UK), Kelag (Austria), Goteborg Energi (Sweden), FVB Energy (Canada), Alfa Level (Sweden), Ramboll (Denmark), Savon Voima (Finland), Enwave Energy (Canada), Orsted (Denmark), Helen (Finland), Keppel DHCS (Singapore), and STEAG New Energies (Germany) are among the major players in the district heating market.

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Europe to hold major share of district heating market from 2018 to 2023

Europe is the largest market for district heating as a large number of leading players are based in this region. Increasing technological advancements, in terms of connectivity, digitalization, and IoT integration; rising demand for energy-efficient solution; and growing initiatives to reduce greenhouse gas emissions are the crucial factors driving the growth of this market in Europe. Due to the legislative framework of the European countries including Germany, the UK, and France, the penetration of district heating in new buildings is expected to increase in the upcoming years, especially gated societies. As a result, the market for district heating is expected to hold a major share in this region.

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Human Machine Interface Market (HMI) expected to reach 5.86 Billion USD by 2022

The report "Human Machine Interface Market (HMI) research report by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration Type (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2022", the HMI market is expected to be valued at USD 5.86 Billion by 2022, growing at a CAGR of 9.0% between 2016 and 2022. Factors such as growing adoption of industrial automation equipment in the manufacturing sector, evolution of industrial internet of things (IIoT) and growing demand for smart automation solution, and growing need of efficiency and monitoring in the manufacturing plant are the factors driving the HMI market.

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“Embedded HMI segment expected to grow at a higher rate during the forecast period”

The market for embedded HMI solution is expected to grow at a higher CAGR during the forecast period. Growing technological developments, increasing need of integrated systems, and ease in machine-to-machine (M2M) communication are some of the prominent factors expected to encourage the adoption of embedded HMI solutions during the forecast period.

“Market for cloud-based HMI to grow at the highest rate between 2016 and 2022”

The cloud-based HMIs are gaining popularity owing to the growing IIoT market and increasing demand for new technology by end-user industries. Furthermore, the cloud-based HMIs are being increasingly adopted as it provides better visibility and competitive edge over others. In cloud-based HMI solutions, service and infrastructure are provided off-site through a third-party service provider or a vendor who runs the software and manages data over internet. It is very important to deal with complex HMI systems as major end-user industries are using intelligent machines, new connected devices, and latest technology monitoring systems. Cloud-based software is creating value for adopters because of the features such as ability to connect the experts to the data from remote locations, cost-effectiveness, and high storage capability. However, the safety and security concern is still a major challenge for the adoption of cloud-based HMI solution.

“North America expected to dominate the HMI market between 2016 and 2022”

The HMI market in North America is primarily driven by the presence of a significant number of HMI solution providers and the growing high-end manufacturing activities in the region. In addition, the rising demand for embedded HMI solutions is expected to encourage the HMI market in North America. The R&D activities in the application areas of HMI are increasing owing to the encouraged adoption of IIoT and machine-to-machine communication (M2M) in various industries in this region.

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The major players involved in the HMI market include ABB Ltd. (Switzerland), Advantech Co., Ltd. (Taiwan), Emersion Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Kontron AG (Germany), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

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MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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.

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3D Sensors Market expected to reach 5.46 Billion USD

According to the new market research report "3D Sensors Market by Type (Image, Position, Accelerometer, Acoustic), Technology (Stereo Vision, Structured Light, Time-of-Flight, Ultrasound), Application, and Geography - Global Trend & Forecast to 2022", the 3D sensors market is expected to reach USD 5.46 Billion by 2022, at a CAGR of 26.5% between 2016 and 2022. The major factors driving the growth of the 3D sensors market include the rising demand for 3D enabled devices in consumer electronics, integration of the optical and electronic components, the use of sensing technology in gaming applications, and the growing requirement for security & surveillance systems.

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“Time-of-flight to hold a major share of the overall 3D sensors market during the forecast period”

The 3D sensors market for the time-of-flight technology is expected to grow at the highest rate during the forecast period. The main factor driving the growth of this market is the time of flight sensors that provides much higher frame rate compared to other sensor technologies. However, they provide a lower z-resolution (approximately 1 to 2 cm) compared to other 3D sensors. The features such as compactness and ease of use along with high accuracy and frame rate have helped this market grow.

“Consumer electronics application to exhibit highest growth rate by 2022”

The market for the consumer electronics application is expected to grow at the highest rate during the forecast period. This is mainly because of the high adoption rate of 3D sensors in consumer electronics. The presence of additional features such as virtual reality and motion detection in the gaming sector has boosted the growth of this market. Continuous product development with innovation in consumer electronics has increased the demand for 3D sensors.

“North America to be the largest market for 3D sensors during the forecast period”

3D sensors are increasingly being adopted in North America, owing to the growing demand for effective and efficient processing in terms of three-dimensional imaging. Increasing focus of companies to implement 3D sensors in various applications and ongoing research & development have enabled the growth of the North American 3D sensors market. The implementation of 3D sensors helps in improving the understanding and the working process in various applications such as healthcare, aerospace and defense and automotive, where in-depth knowledge is of utmost importance.

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The major companies that develop 3D sensors include ASUSTeK Computer Inc. (Taiwan), Cognex Corporation (U.S.), Infineon Technologies AG (Germany),  Intel Corporation (U.S.), IFM Electronic GmbH (Germany), LMI Technologies, Inc. (Canada), Microchip Technology Inc. (U.S.), Microsoft Corporation (U.S.), Occipital, Inc. (U.S.), OmniVision Technologies, Inc. (U.S.), PMD Technologies AG (Germany), Qualcomm Technologies, Inc. (U.S.), and SoftKinetic (Belgium).

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Automatic tube cleaning system Market worth $130.5 million by 2023

According to the new market research report "Automatic Tube Cleaning System Market by Type (Ball, and Brush), Industry (Power Generation, Oil & Gas, Commercial Space, Hospitality), and Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2023", The automatic tube cleaning system market is estimated to grow from USD 104.6 million in 2018 to USD 130.5 million by 2023, at a CAGR of 4.53% between 2018 and 2023. The key driving factor for the growth of the automatic tube cleaning system market is the improvement in operational efficiency of HVAC systems due to automatic tube cleaning system installation. Offices, hospitals, hotels, living spaces, and airports are a few major energy consuming sectors of HVAC systems that are installed to improve ambient comfort levels and environmental quality. Shell and tube condensers, as well as heat exchangers, play a vital role in power generation, oil refining, industrial processing, and HVAC comfort cooling. Different types of fouling appear in the air-conditioning system, namely, particulate fouling, scaling, corrosion, and biofouling. All of these foulants, owing to localized corrosion, reduce the heat transfer efficiency of heat exchangers, thereby leading to early equipment failure. Hence, automatic tube cleaning systems are installed to avoid fouling and improve efficiency.

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Ball type automatic tube cleaning system is expected to hold larger market share during 2018–2023

Ball-type automatic tube cleaning systems are ideal for large heat exchangers in oil & gas plants, power plants, desalinization plants, and petrochemical and refining plants. Fouling can be harmful to the equipment and can decrease the efficiency of heat exchangers. Unlike the brush-type tube cleaning system, ball-type is an inline cleaning system, which means that there is no need to shut down the plant for periodic cleaning of heat exchanger tubes or interrupt the plant operation.

Power generation industry is expected to grow at highest CAGR owing to extensive use in maintaining the efficiency of the heat exchangers used in the power generation industry

In the power plant, water-based cooling systems necessarily suffer from fouling of heat exchanger surfaces. This leads to a reduction in efficiency, which, in turn, increases energy use, emission of CO2 and NOx, and operating costs. Thus, fouling reduces chiller heat transfer efficiency and increases energy consumption in the power plant, which can lead to a dramatic loss in unit output, unit availability, and revenue. Hence, automatic tube cleaning systems are installed to enable power plants to generate electricity at maximum efficiency by removing suspended solids automatically and continuously

APAC is expected to hold largest market size, owing to growing need for energy saving and improving operational efficiency in various industries drives the market for automatic tube cleaning systems in APAC.

China and India are among the major countries in APAC having a significant number of coal-fired power plants. Easy availability of coal makes thermal power a preferred source of electricity generation. Increasing population and rapidly growing industrialization have made China the largest electricity producer in the world. China, being a global manufacturing hub, holds the immense potential for the growth of the automatic tube cleaning system market. Japan has reinstated its faith in coal-fired power plant and it planned to have 25% share of coal-fired power plant in its energy mix by 2030 as compare to earlier target of 10%. Moreover, it has also brought 8 power plant online in past two years. This drives the market for automatic tube cleaning systems in APAC.

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TAPROGGE (Germany), Hydroball (Singapore), Ovivo (US), WesTech (US), BEAUDREY (France), Ball Tech (Israel), Nijhuis (Netherlands), WSA Engineered Systems (US), and Watco (Singapore) are a few major companies in this market.

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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.

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