Battery-free Sensors Market expected to reach $109 million by 2026

 

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

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

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

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

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

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

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

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

This results in the construction of skyscrapers, futuristic transportation hubs, and many more such developments to cater to the huge population. Hence, new installation is expected to grow in the coming years.

APAC projected to grow at the highest CAGR of smart elevator market from 2021 to 2026.

APAC is a mix of developing and mature markets for smart elevators. The residential market is the fastest due to the high middle-class population base seeking better residential properties and consequently moving to cities. The region is predicted to witness an increase in new equipment sales in the coming years, where China is the largest new equipment market globally and India the second-largest market

APAC is expected to lead the smart elevator market in 2021 owing to the rising urban population in China and India. To that end, China is expected to continue to remain a dominant market for smart elevators in APAC throughout the forecast period. The renovation initiatives in this region backed by government support are the major factor contributing to the growth of the smart elevator market in APAC

OTIS Elevator, Kone Corporation, Schindler Group, Thyssenkrupp AG, Hitachi Ltd., Hyundai Elevators Co., Ltd, and Mitsubishi Electric, among others, are some of the key players offering Smart Elevators.

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Smart Elevator Market expected to reach $12.6 billion by 2026

 

According to the new market research report "Smart Elevator Market with COVID-19 Impact by Component (Control System, Maintenance System, Communication System), Application (Residential, Commercial, Institutional), Services, and Region - Global Forecast to 2026", the global smart elevator market size was valued at USD 9.7 billion in 2021 and is projected to reach USD 12.6 billion by 2026; it is expected to grow at a CAGR of 5.4% from 2021 to 2026. The key factors fueling the growth of this market comprise of reducing energy consumption within the buildings, development of smart cities and growth in urbanization.

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Control Systems is expected to hold the largest size of the Smart Elevator market in 2021.

The elevator control segment accounted for the largest segment of the overall revenue of the smart elevator control systems market. The growing demand for smarter buildings with seamless passenger flow and easy-to-use elevators is driving the demand for destination control technology. Improving living standards in emerging economies have led to the demand for more high-tech buildings, coupled with the adoption of less energy

The commercial sector is expected to remain dominant applications of the smart elevator market from 2021 to 2026

The commercial segment held the largest size of the market in 2020 and is likely to exhibit a similar growth pattern during the forecast period on account of the increasing deployment of solutions in the commercial sector.

Furthermore, the consolidating trend of developing energy-saving infrastructure in airports, malls, and other commercial facilities will push the growth of the segment.

On the other hand, the construction of high-rise buildings to accommodate the increasing urban population will lead the residential segment to register the highest growth rate during the forecast period. For Instance, in March 2020, the Government of India approved proposals from TCS and DLF to set up a Special Economic Zone (SEZ) for the IT sector in Haryana and Uttar Pradesh. Additionally, reducing energy consumption has become a major objective for building owners, governments, and utilities. Replacing existing elevator systems with more energy-efficient systems (such as smart elevators) is one of the ways to reduce this massive pool of energy use; however, it is just a solution at a small level. These factors will drive the demand for smart elevators in the commercial sector.

New Installations is expected to remain dominant over the forecast period 2021 to 2026

New installations are done in ongoing construction activities across the world. Therefore, emerging economies, such as India, China, Indonesia, and Africa, are expected to lead the market for new installation services. Additionally, emerging economies and untapped markets in India and other Asian countries are responsible for the high growth of new installations in the APAC market. Urban cities are now growing into megacities, with the population rising to millions. A few examples are Tokyo, Mexico City, Seoul, and Lagos. This results in the construction of skyscrapers, futuristic transportation hubs, and many more such developments to cater to the huge population. Hence, new installation is expected to grow in the coming years.

APAC projected to grow at the highest CAGR of smart elevator market from 2021 to 2026.

APAC is a mix of developing and mature markets for smart elevators. The residential market is the fastest due to the high middle-class population base seeking better residential properties and consequently moving to cities. The region is predicted to witness an increase in new equipment sales in the coming years, where China is the largest new equipment market globally and India the second-largest market

APAC is expected to lead the smart elevator market in 2021 owing to the rising urban population in China and India. To that end, China is expected to continue to remain a dominant market for smart elevators in APAC throughout the forecast period. The renovation initiatives in this region backed by government support are the major factor contributing to the growth of the smart elevator market in APAC

OTIS Elevator, Kone Corporation, Schindler Group, Thyssenkrupp AG, Hitachi Ltd., Hyundai Elevators Co., Ltd, and Mitsubishi Electric, among others, are some of the key players offering Smart Elevators.

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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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Authentication and Brand Protection Market expected to reach $3.7 billion by 2026

 

According to a research report "Authentication and Brand Protection Market with COVID-19 impact –Technology (Overt, Covert, Forensic, Digital), Offering (Security Labels, Security Inks, Holograms), Authentication Mode, Application, and Region - Global Forecast to 2026" published by MarketsandMarkets, the authentication and brand protection market is projected to grow from USD 2.5 billion in 2021 to USD 3.7 billion by 2026; it is expected to grow at a CAGR of 8.3%from 2021 to 2026.

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The key factors fueling the growth of the market include increasing focus on safeguarding product and brand integrity, and stringent anti-counterfeiting laws and regulations enforced by governments. Additionally, increasing demand from emerging economies in APAC is expected to create an opportunity for authentication and brand protection market.

The overt segment is projected to account for the largest share of the authentication and brand protection market during the forecast period.

The overt brand protection solutions can be used for both investigative and consumer validation of product authenticity. Some of the overt authentication offerings are holograms, complex security printing, and embossed optical films. Additionally, overt technology-based authentication and brand protection solutions have decorative appeal and are relatively cheap.

The market for RFID authentication and brand protection is expected to grow at the highest CAGR during the forecast period

RFID tags are becoming popular tools for the identification of products. By using RFID, products can be traced in seconds using electromagnetic fields to automatically identify and track tags attached to objects. Thus, RFID helps to improve and track the supply chain process, from production through distribution and retailing.

The pharmaceutical application in authentication and bradnd protection is expected to grow at the highest CAGR during the forecast period.

The COVID-19 pandemic has boosted the growth of the pharmaceuticals industry worldwide. Additionally, the growth of the segment can be attributed to government regulations in various countries mandating the use of anti-counterfeit technologies in pharmaceutical products.

APAC held the largest share of the global authentication and brand protection market during forecast period.

Economic growth and expansion of the manufacturing industry in the region have significantly impacted the demand for authentication and brand protection. Additionally, the adoption of authentication and brand protection solutions across industries such as pharmaceuticals, automotive, food & beverages, electronics, and luxury goods is expected to increase in APAC during the forecast period. Growing awareness about authentication and brand protection technologies among companies is generating demand for such solutions. The pharmaceuticals industry is expected to witness the fastest growth in China, India, and other countries in the APAC region globally due to the presence of both young and aging population. Additionally, rapid urbanization and the growth of other key end-use industries are factors that are projected to reflect positively on the growth of the authentication and brand protection market during the forecast period.

The key players operating in the authentication and brand protection market include Authentix (US), Avery Dennison (US), Brady (US), De La Reu (UK), Wisekey (Switzerland), Infineon (Germany), Merck Group (Germany), Assa Abloy (Sweden), Centro Grafico (Italy), and Sunchemicals (US).

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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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Floor robot segment to hold the largest share of Cleaning Robot Market worth $24.8 billion by 2026

 

The report "Cleaning Robot Market with COVID-19 Impact by Type (Professional, Personal), Product (Floor Cleaning, Lawn Cleaning, Pool Cleaning, Window Cleaning), Application (Residential, Commercial, Industrial, Healthcare), and Geography - Global Forecast to 2026", size is projected to reach USD 24.8 billion by 2026 from an estimated USD 8.9 billion in 2021, at a CAGR of 22.8% from 2021 to 2026. The increasing labor cost, innovation, coupled with modernization in the field of robotics are among the factors driving the growth of the cleaning robot market.

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Professional cleaning segment to projected to register higher CAGR between 2021 to 2026

Manual cleaning of carpets and floors in commercial spaces, such as shopping malls and corporate offices, is a time-consuming job. This has led to the operators of the commercial spaces opting for an automated cleaning system. COVID-19 has further forced commercial space operators to curb human contact and follow social distancing norms while also undertaking cleaning processes on the premises. These initiatives will play a key role in driving the adoption of professional cleaning robots during the forecast period.

Floor robot segment to hold the largest share of the market in 2021

In 2021, floor robot segment is expected to hold the largest share of the cleaning robot market. The dominance can be attributed to shift in customer needs toward smart home appliances coupled with a rise in labor costs in developed countries. Also, an increased potential for AI-powered cleaning robots from emerging urban middle-class households in developing countries and from commercial applications will offer newer business opportunities for the floor-cleaning robot vendors.

By application, healthcare application is projected to grow at highest CAGR during forecast period

With an increasing awareness about Hospital Acquired Infections (HAIs), there has been a rise in emphasis on hospital hygiene, followed by an improvement in patient care. These factors are key to the growth of the cleaning robot market for the healthcare application. Technological advancements in robots at healthcare facilities have also increased significantly in the past few years, and this trend is expected to continue through to 2026.

By region, cleaning robot market in APAC is estimated to grow at highest CAGR throughout the forecast period

The cleaning robot market in APAC is projected to grow at the highest CAGR during the forecast period. High disposable income in countries such as South Korea and Japan is playing an important role in the growth of the cleaning robot market. E-commerce platforms selling cleaning robot products are also helping the market to grow in technologically advanced countries such as India and China. The increasing adoption of cleaning robots and the influx of global players, along with the emergence of native players, are helping the market to grow swiftly in APAC.

iRobot (US), Ecovacs Robotics (China), Samsung Electronics (South Korea), LG Electronics (South Korea), Xiaomi (China), Roborock (China), SharkNinja (US), Neato Robotics (US), Cecotec Innovaciones (Spain), and Panasonic (Japan) are a few key companies operating in the cleaning robot market.

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.

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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Porcess industry is expected to hold the largest size of the SCADA Market worth $13.2 billion by 2026

 

According to the new market research report "SCADA Market with COVID-19 Impact by Offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human‒Machine Interface, Communication System), End User, and Region - Global Forecast to 2026", the global SCADA market size was valued at USD 9.2 billion in 2021 and is projected to reach USD 13.2 billion by 2026; it is expected to grow at a CAGR of 7.6% from 2021 to 2026. The key factors fueling the growth of this market include increased adoption of Industry 4.0 solutions using SCADA systems, high demand for industrial mobility solutions for efficient management of process industry, and use of software platforms such as IoT and artificial intelligence.

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Services offering accounted for largest size of the SCADA market in 2020.

The services segment accounted for the largest share of the SCADA market in 2020. Many of the industries in the Americas and Europe have already implemented SCADA systems. Thus, there are fewer opportunities in terms of the implementation of new SCADA systems. However, in terms of modification of SCADA systems, there are huge opportunities. After the installation of SCADA systems, organizations need proper modification and maintenance throughout the life of SCADA systems. Service offerings, especially cybersecurity, are considered while customizing or modifying SCADA systems.

Porcess industry is expected to hold the largest size of the SCADA market in 2021.

Process industry is expected to account for the largest share of the SCADA market during 2021–2026. The rate of adoption of SCADA systems is high in process industries owing to the rising pressure on manufacturers to optimize the cost and production processes. Increasing demand for real-time visibility of complex operations in industries such as oil & gas, chemicals, pharmaceuticals, metals and mining, and food & beverages is expected to drive the demand for SCADA systems in the process industry.

APAC projected to grow at the highest CAGR of SCADA market from 2021 to 2026.

APAC is projected to hold the largest share of the SCADA market during the forecast period. APAC is the production hub for automation technologies due to the presence of major companies such as Yokogawa Electric, Mitsubishi Electric, and OMRON. Renewable energy, smart grids, water & wastewater, and transportation sectors are expected to drive the growth of the SCADA market in APAC. Automation is increasing in APAC because of the rising necessity for high-quality products, along with increased production rates.

Schneider Electric, Emerson Electric, Rockwell Automation, ABB, Siemens, Honewell International, and Mitsubishi Electric, among others, are some of the key players offering SCADA systems.

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.

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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Vibration Sensors Market expected to reach $3.0 billion by 2025

 

According to the new market research report "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025", the vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.

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Accelerometers to hold largest share of vibration sensors market during forecast period

Accelerometers are expected to account for the largest share of the vibration sensors market during the forecast period. The growth of this segment can be attributed to the increased use of accelerometers for collecting vibration monitoring data. Piezoelectric accelerometers are the most commonly used sensors in vibration monitoring applications. They are suitable for a wide band of frequencies, ranging from very low to very high frequencies. These accelerometers are also available in a wide variety of application-specific designs.

Energy and power industry to account for the largest share of vibration sensors market during forecast period

The Energy and power industry is expected to account for the largest share of vibration sensors market during forecast period. The power industry is facing challenges owing to the continuously increasing demand for power and the requirement to reduce distribution losses. This has led power generation companies to offer continuous power supply at low costs and monitor their processes for any unwanted changes. Hence, vibration sensors play a crucial role in the power sector.

Vibration sensors market in APAC to grow at highest CAGR during forecast period

Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure on industries such as oil and gas, energy and power, chemicals, and automotive to achieve operational efficiency are fueling the growth of the vibration sensors market in APAC. The expansion of manufacturing activities as a result of the shifting of production bases to APAC countries, such as China, India, and South Korea, with low labor costs, is driving the demand for vibration sensors in the region. However, the outbreak of the COVID-19 has significantly affected the manufacturing sector of APAC. As neighboring countries in the region are linked to one another through trade relations and supply chain, the entire region is affected by this pandemic.

Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market.

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.

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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Artificial Intelligence (Chipsets) Market expecting high revenew $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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