Augmented Reality Market worth $88.4 Billion USD - Global Forecast to 2027

 

According to a research report "Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2026. The key factors driving the growth of the augmented reality market include surging demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors due to COVID-19, rising investments in the AR market, increasing demand for AR devices and technology in the global automotive industry, and others.

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Hardware segment to account for the largest share of augmented reality market during the forecast period

On the basis of offering, the augmented reality market has been segmented into hardware and software. The hardware segment of the augmented reality market is projected to witness a higher growth rate than the software segment owing to the increasing adoption of augmented reality hardware globally.

Consumer application to account for the largest share of augmented reality market during the forecast period

On the basis of application, the augmented reality market has been segmented into consumer, commercial, aerospace & defense, healthcare, enterprises (manufacturing), automotive, energy, and others. The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026. The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications. The demand for HMD is high in consumer applications. They are used in smart glasses in sports (such as ski driving and fighting games).

APAC to account for the largest share of augmented reality market during the forecast period

The flourishing enterprises (manufacturing) sector in China and Japan is projected to fuel the growth of the augmented reality market in APAC. The gaming industry in this region has also witnessed significant growth, thereby contributing to the increased demand for augmented reality technology in APAC. Additionally, rising investments in commercial applications of augmented reality are also expected to contribute to the growth of the market in APAC. Moreover, the thriving healthcare and automotive sectors in Japan are also projected to drive the demand for AR technology in the region.

The novel coronavirus has affected the global economy to a large extent. The economies in APAC, including Japan, China, South Korea, India, and Australia, have a significant contribution toward the global economy as they are home to various manufacturing and assembly plants in the world. China, which is known as the manufacturing hub of the world, faced a serious economic crisis owing to the spread of the virus and brought all economic activities to a standstill for weeks. The other countries, such as India, Australia, South Korea, and Japan, have also witnessed a downfall in the economic activities across various sectors.

Some of the key companies operating in the market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), Apple (US), and so on.

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Edge AI Hardware Market worth 2,080 Million USD - Global Forecast to 2027

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 many 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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European Smart Home Market worth $41.2 Billion USD - Global Forecast to 2027

 

According to a research report "European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography - Global Forecast to 2027" published by MarketsandMarkets, the European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. The key factors fueling the growth of this market include growing internet access in European region, rising need for energy saving and low-carbon emission-oriented solutions, increasing number of manufacturers expanding their smart home product portfolios, ongoing proliferation of smartphones, surging importance of home monitoring, and increasing safety, security, and convenience offered by smart home products are driving need for them.

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GlobeNewswire Link :
https://www.globenewswire.com/en/news-release/2022/07/04/2473501/0/en/European-Smart-Home-Market-worth-41-2-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

smart furniture is projected to grow at the fastest rate for European smart home market during the forecast period

Smart furniture, often referred to as the future of furniture, is considered a prominent aspect of home automation, thereby creating numerous market growth opportunities. Despite being in its nascent stage, the market has shown signs of wide-scale adoption. Smart furniture offers various benefits such as enabling wireless charging for smart devices, listening to the radio, news or recipe searching, internet browsing and calling, among others. Also, smart furniture enables monitoring of activities such as sitting or standing time and calories burnt by an inhabitant. This makes smart furniture far more advanced than conventional furniture. Continual technological advancements have resulted in incorporating features such as wireless smartphone charging, induction beverage warmer, and Bluetooth speakers integrated into single furniture, a factor further expected to strengthen the smart furniture market growth.

Proactive software for European smart home is expected to grow more than the behavioral software in the forecast period.

Proactive software and services facilitate the transmission of energy consumption data to end users and suggest the best possible actions to be taken after receiving this data. These software and services transfer a higher volume of data than behavioral software and services, as they can provide inputs to end users regarding effective energy consumption, along with required actions on the physical parameters to reduce this consumption. Algorithms associated with proactive software and services can also perform a comparative analysis of the energy usage patterns based on the time of the day, historical data, and weather conditions. These software and services are more beneficial than behavioral software and services as they can also send recommendation signals to end users to take necessary actions to reduce energy consumption. Based on the actions of users, measures to control electronic devices can be implemented. The bulk of proactive software is used for home security systems or detecting fire or water breaches. Europeans are increasingly embracing connected home technologies, with a strong emphasis on lowering energy costs through monitoring and application adaptation. Healthcare applications are also popular among Europes elderly population.

Germany is projected to grow at the fastest rate for European smart home market during the forecast period

Germany is the economic powerhouse of Europe and plays a crucial role in the European smart home market for smart lighting. German population prefers well-equipped smart homes. Moreover, in the next 4–5 years, the number of new households is expected to rise, which can offer potential opportunities for new and innovative lighting solutions. Currently, there is ongoing research on future lighting for smart homes in Germany. Germany is among the leaders in the European energy-efficient lighting industry, ahead of Italy and France. The smart home market is expected to witness significant growth in the coming years, with Germany being one of the global hotspots. Being an early adopter of new technologies, Germany continues to lead the smart home market in Europe.

Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (US), Apple (US), ADT (US), Robert Bosch (Germany), ABB (Switzerland), and Axis Communications (Sweden) are the key players in the European smart home market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

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Augmented Reality and Virtual Reality Market worth $114.5 Billion USD - Global Forecast to 2027

 

According to a research report "Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027" published by MarketsandMarkets, the AR and VR market is projected to grow from USD 37.0 billion in 2022 to USD 114.5 billion by 2027; it is expected to grow at a CAGR of 25.3% from 2022 to 2027. The key factors fueling the growth of this market include increasing application of AR devices in healthcare, increasing demand of AR in retail and e-commerce post pandemic, rising investments in AR and VR market, partnerships between telecom players and AR manufacturers to reduce latency to imperceptible levels, rise in demand for AR in architecture, increasing demand for VR in training and education, high growth of AR and VR in travel, tourism and enterprise applications.

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PR Newswire Link :
https://www.prnewswire.com/news-releases/augmented-reality-and-virtual-reality-market-worth-114-5-billion-by-2027--exclusive-report-by-marketsandmarkets-301560833.html

Head-mounted displays contribute for maximum market share for AR and gesture tracking devices comprise a maximum market share in 2021

For device type segment of AR and VR market, The AR market for head-mounted displays is anticipated to be contributing to maximum market share at a faster growth rate during the forecast period. The use of HUDs in the automotive sector is expected to boost the growth of the AR market for HUDs. The increasing demand for AR smart glasses for industrial applications is expected to drive the growth of the AR market. Consumer applications such as gaming, sports, and entertainment are expected to boost the VR market for head-mounted displays. The VR market for head-mounted displays for consumer applications is expected to increase, but the maximum market share in VR market in 2021 was for gesture tracking devices.

Hardware market for AR and VR is expected to grow more than the software market in the forecast period.

For the offering type segmentation of AR and VR market, the market offers software as well as hardware in both AR and VR market. The market for hardware devices is currently limited. However, it is expected to witness a higher growth rate than the software market owing to the increasing adoption of AR and VR hardware devices. Increasing penetration of AR software solutions and their compatibility with existing hardware devices are expected to drive the growth of the AR and VR market for software during the forecast period. AR technology is anticipated to continue its growth in the software segment through the emergence of various emerging AR projects that will evolve into large-scale projects. The VR market for hardware is expected to hold a larger market share in the forecast period with the increasing boom of the VR hardware such as VR headsets for gaming, entertainment, training. The reduction in the growth rate of the AR market for software is due to the widespread availability of AR software in the market.

Asia Pacific is projected to grow at the fastest rate for AR market during the forecast period and maximum market share in VR market in 2021

For the AR market, by region, the maximum market share of the AR market is contributed by North America with a maximum market share during the forecast period. Even though the AR market are developed in North America, the expected growth rate is lesser than the other regions such as Asia Pacific, which has the highest growth rate during the forecast period, the reason being that the market is already developed in this region, hence, stagnating growth up to a certain extent. For VR market, Asia Pacific region has the largest share in the market in 2021 as well as it is also the fastest-growing region for VR market during the forecast period with the highest growth rate. Several start-ups in the US, Germany, Canada, France, the UK, and India have focused on the upcoming trends in AR and VR services and trends such as virtual training, virtual try-ons for clothing, jewellery, make-up, virtual furniture shopping, Heads-up display in automobile industry; which led to growth in the AR devices and apps in the industry as a whole, which in turn, leads to growth in the AR and VR market.

Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Apple Inc., (US), PTC Inc., (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China) are the key players in the global AR and VR market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

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Interactive Kiosk Market worth $39.1 Billion USD - Global Forecast to 2027

 

The report "Interactive Kiosk Market with COVID-19 Impact by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks and Vending Kiosks), Location (Indoor and Outdoor), Panel Size, Vertical and Region - Global Forecast to 2027", is projected to grow from USD 28.8 billion in 2022 and is projected to reach USD 39.1 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2022 to 2027.

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GlobeNewswire Link :
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The growth of this market is driven by factors such as enhanced shopping experience for customers, rising demand for self-service in banking & financial services, enhanced applications over conventional services and innovations in touch screen display and glass technology.

“Interactive kiosk market for bank kiosks expected to grow at the highest CAGR from 2022 to 2027 ”

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks. Factors such as the incorporation of modern technology in the banking sector and initiatives taken by banks to combine technology and the finance sector to cut down labor costs and bring about a more technical approach to banking are driving the interactive kiosk market for bank kiosks.

“Panel size above 32” is expected to grow at higher CAGR from 2022 to 2027”

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2022 to 2027. The panels with 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 order taken from customers, though the market has the highest growth in the healthcare and hospitality sectors. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

“Interactive kiosk market for software & services segment to witness highest CAGR during the forecast period”

The for software & services offering segment is expected to witness higher growth during the forecast period. Software solutions play a major role as the kiosk supplies have to provide customized solutions to the sellers as per the product and location requirements. With progressing technologies, robust and user-friendly software solutions are being deployed for the smooth functioning of kiosks. Hence, the interactive kiosk market for software would experience a high growth owing to these advanced software solutions. Similarly, services that include deployment, installation, training, maintenance, upgrades, and technical support are major concerns for kiosks.

“North America held significant share of interactive kiosk market in 2021 and is expected to follow the trend by 2027”

North America is expected to account for the largest share of the interactive kiosk market during the forecast period. The interactive kiosk market in North America is driven by various factors such as the need to save time, need for accuracy, high living standard compared with other regions and efficiency in retail services. Interactive kiosk manufacturers in North America are focused on manufacturing precise and fast. The retail sector in the US is moving toward a more solution-oriented approach. This has motivated manufacturers to come up with highly automated products. The favorable economic conditions prevailing in North America and the growing demand for kiosk services among customers have encouraged various end-user industries involved in mainstream automated operations to carry out easy and quick point-of-sale (PoS) services.

Key players in the interactive kiosk market include KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), GLORY LIMITED (Japan), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).

Apart from these, Korala Associates Limited (KAL) (US),  Acante Solutions Limited (UK), SlabbKiosks (US), IntuiFace (France), Aila Technologies (US), Advanced Kiosks (US), Dynatouch (US), LamasaTech (UK), Shenzhen Lean Kiosk Systems Co., LTD (LKS) (China), are among a few emerging companies in the interactive kiosk market.

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Underfloor Heating Market forecast supercharge your visualizations worth $7.0 billion by 2027

 

The report "Underfloor Heating Market with COVID-19 Impact Analysis by Offering (Hardware, Services), Product Type and Component (Hydronic, Electric), Installation Type (New, Retrofit), Application (Residential, Commercial), Region - Global Forecast to 2027", is projected to grow from USD 4.8 billion in 2022 to USD 7.0 billion by 2027; it is expected to grow at a CAGR of 7.6% from 2022 to 2027. Strong government support and incentives for the development and adoption of energy-efficient heating solutions is one of the major factors fueling the growth of this market.

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“Hardware offerings accounted for a larger share of the underfloor heating market in 2021.”

Hardware offerings accounted for a larger share of the underfloor heating market in 2021. The growth of the market is attributed to the increasing demand for hardware such as heating pipes and cables, distribution units, and manifolds for use in hydronic and electric underfloor heating systems.

PR Newswire Link : 
https://www.prnewswire.co.uk/news-releases/underfloor-heating-market-worth-7-0-billion-by-2027-exclusive-report-by-marketsandmarkets-tm--803641549.html

“Market for electric underfloor heating expected to grow at higher CAGR during forecast period”

The market for electric underfloor heating systems is expected to grow at a higher CAGR during the forecast period. Electric underfloor heating systems are less costly and are easier to retrofit because these systems comprise several subsystems that do not require an insulating screed. Electric systems can also easily be fitted into a single room, particularly where wireless controllers are used to avoid digging walls. Furthermore, electric underfloor heating systems exert less load on floors; therefore, they can be easily fitted in rooms and flats on a higher level.

“Market for new installations of underfloor heating systems expected to grow at highest CAGR during forecast period”

New installations would dominate the underfloor heating market during the forecast period mainly because of favorable government regulations and tax credit facilities on the installation of energy-efficient systems and a high focus on energy saving and minimizing energy bills. Underfloor heating systems also reduce installation cost in new builds where developers use on-site laborers to install basic systems and use specialist contractors to commission and connect electric systems and boilers.

“Residential  application accounted for largest share of the underfloor heating market in 2021”

The residential application held the largest share of the underfloor heating market in 2021 due to the increasing awareness about the benefits of underfloor heating systems in residential properties. The high growth rate of the underfloor heating market for the residential application is mainly due to the growing refurbishment activities in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area.

“Europe is expected to dominate the underfloor heating market during forecast period”

The European market is expected to grow at the highest CAGR during the forecast period due to the growing trends of zero-carbon emissions and tax-credit benefits policies adopted by various governments in European countries. Also, many players are offering portable electric underfloor heating systems in Europe, which would further increase the adoption of underfloor heating systems.

A few of the key players in the underfloor heating market are Uponor (Finland), Resideo Technologies Inc. (US), nVent Electric (UK), Warmup (UK), Rehau (Switzerland), Emerson (US), Robert Bosch (Germany), Danfoss (Denmark), Mitsubishi Electric (Japan), and Siemens (Germany).

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3D Sensor Market will Gain Momentum worth $9.4 billion by 2026

 

The report "3D Sensor Market with COVID-19 Impact, by Type (Image Sensors, Position Sensors), Technology (Time of Flight, Structured Light), End-use Industry (Consumer Electronics, Industrial Robotics, Automotive), and Region, Global Forecast to 2026 ", size is estimated to be USD 2.7 billion in 2021 and is projected to reach USD 9.4 billion by 2026; it is expected to grow at a CAGR of 28.1% from 2021 to 2026. Factors such as growing penetration of 3D depth sensors in various devices and increased demand for virtual reality in gaming consoles are likely to provide opportunities for market growth.

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The 3D sensor market includes major Tier I and II players like Infineon Technologies AG (Germany), OmniVision Technologies, Inc. (US), Sony Corporation (Japan), Cognex Corporation (US), Lumentum Operations LLC (US), and others. These players have a strong market presence for 3D sensor across various countries in North America, Europe, APAC, and RoW.

PR Newswire Link : https://www.prnewswire.com/news-releases/3d-sensor-market-worth-9-4-billion-by-2026--exclusive-report-by-marketsandmarkets-301349087.html

Rising demand for 3D sensing-enabled consumer electronics

Initially, the application of 3D sensors was primarily limited to the gaming sector; however, with further technological advancements and R&D, the application areas of 3D sensors have increased. Currently, 3D sensors are implemented on laptops, smartphones, and various electronic gadgets. This can be attributed to the growing consumer demand for advanced features in smartphones and other electronic gadgets.

3D image sensor type is expected to grow at the highest rate during the forecast period

In the consumer electronics industry, 3D image sensors are increasingly being used in digital cameras, camera modules, and other imaging devices. Companies such as Apple Inc. (US), Google Inc. (US), and Microsoft Corporation (US) incorporate 3D image sensors into smartphones, tablets, laptops, and other devices. In 2018, Huawei (China), a prominent manufacturer of smartphones, introduced a new smartphone, Honor Magic 2, with a 3D camera and graphene heat pipe. In 2020, Apple launched iPhone 12 Pro with ToF 3D sensor. In March 2019, Samsung launched a new smartphone model, S10, with Qualcomms 3D Sonic fingerprint sensor, which is also present in its next-generation smartphone. These developments in smartphones are expected to boost the 3D sensor market during the forecast period.

Consumer electronics end-use industry to hold the largest market size of 3D sensor market  during the forecast period

The consumer electronics end-use industry is expected to hold the highest market share between 2021 and 2026. Biometric scanning and other cutting-edge 3D sensing technologies are redefining the world of consumer electronics. 3D sensing plays an important role across consumer electronics, such as facial recognition in smartphones, laptops, and tablets; high-performance in-depth sensing in photography; and AR/VR applications in gaming consoles. Microsoft Kinect, having game recognition abilities, has transformed the home gaming industry with advancements such as multi-player 3D position sensing, facial expression detection, and touchless heart rate monitoring. Intelligence, reliability, low power consumption, and low cost are the drivers for the integration of 3D sensing technology in consumer electronics.

3D sensor market in North America to hold the highest market share during the forecast period

North America is expected to lead the global 3D sensor market. The growth of the market in this region can be attributed to the presence of key manufacturers of consumer electronics with a high adoption rate of new technologies. The growth of the consumer electronics industry is another factor driving the 3D sensors market in this region. The presence of key manufacturers of sensors such as Intel, Lumentum, Cognex Corporation, and OmniVision Technologies drives the market across the US. Companies such as Google, Microsoft, and Apple are investing in 3D sensing technologies across consumer electronics and robotics applications. These factors have contributed to the huge growth of the 3D sensor market in North America.

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

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