News Market Insights

The burgeoning number of construction projects is the biggest market driver. With the increasing concerns being raised over tenant and employee safety, emergency lights are being installed in almost all new industrial, residential, commercial, and government buildings. In this regard, the rampant urbanization and construction of houses, office buildings, hospitals, universities, restaurants, shopping complexes, hotels, and factories are helping market players gather high revenue. For instance, these lights will be procured in monumental numbers for the 100 smart cities being developed in India. Another key growth driver for the emergency lighting market are the government regulations mandating their installation. In closed buildings, anything can go wrong anytime, for instance, due to a major power cut, short circuit, fire, natural disasters, and bombing and other acts of violence. Moreover, if not constructed properly, buildings could fall, trapping people inside. The increasing conc

Due to the mushrooming use of wearable devices, increasing adoption of the internet of things (IoT) in medical instruments, and surging utilization of compact batteries in the healthcare sector, the global micro battery market is expected to demonstrate a CAGR of 18.4% from 2019 to 2024. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will surge from $418.2 million in 2018 to $1.1 billion by 2024.  With the rising prevalence of chronic diseases, such as diabetes and cancer and the surging population of geriatric people, the incorporation of advanced technologies and solutions in the healthcare sector is rising sharply. For instance, as per the World Health Organization (WHO), 422 million people all over the world are diagnosed with diabetes every year.  Furthermore, the organization found that the disease claims the lives of 1.6 million people across the world every year.  According to the World Population Ageing 2020 report p

The booming demand for automated salesforce solutions, increasing adoption of digital marketing strategies, and surging focus of the e-commerce industry on improving its operations are expected to drive the field force automation market at a vigorous CAGR of 20.9% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will surge from $1,196.9 million in 2019 to $9,033.0 million by 2030. Currently, the rising preference for cloud-enabled field force mobile applications, owing to their high storage capacity and flexibility of data sharing and retrieval, is becoming a market trend. In contemporary times, the demand for these solutions is driven by the increasing adoption of digital marketing strategies among enterprises to consolidate their position. Business organizations are using such strategies to expand their clientele and meet their customized needs. Besides, the increasing deployment of state-of-the-art technologies, such as robotics, machine

The tunnel automation market is categorized into highway and roadway tunnels and railway tunnels, depending on tunnel type. Of these, the railway tunnels category contributed higher revenue to the market in 2020. This is ascribed to the various benefits of railway tunnel automation solutions, such as reduced security and safety threats and enhanced efficiency of tunnel operations. Fire and safety, lighting and power supply, ventilation, signalization, communication, and air conditioning systems are some of the major components of these tunnel automation systems. When component is taken into consideration, the tunnel automation market is classified into heating, ventilation, and air conditioning (HVAC), signalization, and lighting and power supply. Amongst these, the HVAC category dominated the market in 2020, and it is predicted to demonstrate the highest CAGR in the market throughout the forecast period. This is credited to the extensive usage of HVAC components in tunnel automation.

A major growth driver for the edge AI software market is the surging adoption of cloud-based solutions in enterprises owing to the extensive volume of the data being generated by them. As AI-enabled applications deployed on the cloud platform usually exhibit latency issues and offer slow responses, business organizations are shifting toward edge AI software as it mitigates such issues by placing the computer resources at the edge of the network.  By placing the resources closer to the main data center, this software enables AI-based applications to function with a high bandwidth. The categories under the application segment of the edge AI software market include access management, autonomous vehicles, energy management, video surveillance, remote monitoring and predictive maintenance, telemetry, and others, such as smart wearables, precision agriculture, point of sale, field service support, and augmented reality (AR)/virtual reality (VR).  Among these, the video surveillance category

The inductive category dominated the market in 2020. This is ascribed to the fact that an inductive coupling has the ability to transmit 30–60% of the power. Moreover, inductive coupling is widely used in handheld devices, such as laptops, smartwatches, ear pods, and tablets. Transmitters and receivers are the two major components of wireless charging systems. Between these, the demand for receivers was observed to be higher in 2020. This was because of the existence of a larger number of receiver components than transceiver components, owing to the use of wireless charging in consumer electronic devices. In addition, the increasing adoption of wireless charging in several devices, such as drones, smartphones, and smartwatches. EVs is predicted to push up the demand for receiver components in the coming years. Geographically, North America dominated the wireless charging market in 2020. It is also predicted to generate high revenue in the coming years. This will be because of the exis

The Wi-Fi analytics market is bifurcated into Wi-Fi marketing analytics and Wi-Fi presence analytics, based on application. Between the two, the Wi-Fi presence analytics category accounted for the larger share in the market in 2019 as presence analytics provides real-time information of customers using Wi-Fi networks, which includes data on repeat visitors, first-time visitors, physical location, and dwell time. This data offers companies detailed insights into consumer behavior and helps in engaging the customers directly, to increase their business opportunities. Moreover, the end use segment of the Wi-Fi analytics market is categorized into retail, smart infrastructure, hospitality, transportation, sports and entertainment, healthcare, and others. Among these, the smart infrastructure category accounted for the largest market share in 2019. This is ascribed to the fact that this technology helps the municipal bodies of cities observe the behavior of people during busy office hours

Be it any industry, automotive, industrial manufacturing, aerospace, or construction, designing, analyzing, testing, retesting, and simulation are important steps before the actual thing or structure goes into mass production. The designing part was traditionally accomplished via the paper-based method, which was long and had a big margin for error. The computer-aided design (CAD) software has made the entire process easier, quicker, and more accurate, by allowing the designs to be created digitally. Moreover, the designs once created can be modified unlimited times and also simulated to see how they would perform in the real world. P&S Intelligence considers all these advantages while forecasting a 6.6% CAGR for the CAD software market between 2020 and 2030, at which the revenue generated from the licensing and subscription of such programs will rise to $18.7 billion by 2030 from $9.3 billion in 2019. Seeing this, software vendors have started offering this software for beginners

At present, companies such as Teledyne FLIR LLC, TSI Incorporated, Nielsen-Kellerman Co., Fujitsu Ltd., Kyoto Electronics Manufacturing Co. Ltd., Sato Keiryoki Mfg. Co. Ltd., Keyance Corporation, Besantek Corporation, General Tools & Instruments LLC, and Sper Scientific Ltd. are manufacturing fixed and handheld/portable heat stress monitors in Japan.  In the recent past, fixed heat stress monitors have been preferred over handheld/portable variants, due to their largescale adoption in manufacturing facilities of the country. Whereas, in the forthcoming years, handheld/portable variants will be adopted at the highest rate, due to the increasing number of workplaces and convenience offered by them. Heat stress monitor manufacturers are currently focusing on acquisitions and product launches to expand their customer base in Japan. For instance, in February 2018, TSI Incorporated acquired the personal safety division and Oconomowoc facility of 3M Company. This division and facility foc

According to P&S Intelligence, the North American region was the largest user of web conferencing solutions and services in the recent past. This was due to the presence of technologically inclined people, hefty IT expenditure, and early adoption of state-of-the-art technologies in the region.  Moreover, the surging penetration of high-speed internet, presence of several large enterprises, and booming popularity of the bring-your-own-device (BYOD) culture will create a huge requirement for web conferencing solutions and services. Whereas, the APAC web conferencing market will likely grow the fastest during the forecast period.  This will be due to the rising internet penetration, accelerating smartphone and tablet adoption rate, improving economic conditions, and mounting IT spending in the region. Additionally, the escalating public focus on e-learning courses and online education and shift toward the remote working policy will contribute to the market growth in the foreseeable f

The petrochemical, oil refining, and chemical sectors deploy industrial refrigeration systems to preserve compounds, condense gases, and dehumidify the air. Pharmaceutical companies use these systems for cold sterilization of biologics, tissues, and medical devices. Whereas, chemical companies need advanced refrigeration systems to maintain the temperature of raw materials and semi-finished and finished products. As most of the vaccines, biologics, and bioengineered drugs derived from living cells need to be stored at stable temperatures to remain viable, the burgeoning demand for such pharmaceuticals will create a huge requirement for industrial refrigeration systems in the coming years. Additionally, the expansion of the cold chain industry will fuel the industrial refrigeration systems market at a CAGR of 5.0% during the forecast period (2020–2030). The market revenue is expected to surge from $26.8 billion in 2019 to $41.1 billion by 2030. The growth of the cold chain industry can

As per the World Bank, the number of mobile cellular subscriptions increased from 7.18 billion in 2015 to 7.98 billion in 2019. The increasing penetration of smartphones and other connected devices will result in the largescale adoption of extended reality (XR) solutions across the world. Moreover, the accelerating internet use will also fuel the demand for XR solutions in the upcoming years.   Additionally, the mounting popularity of augmented reality (AR) and virtual reality (VR) technologies among general public and the retail, education, healthcare, gaming, industrial and manufacturing, aerospace and defense, and media and entertainment sectors will fuel the extended reality market at a robust CAGR, of 48.3%, during 2020–2030. XR Market Outlook and Opportunities in Grooming Regions The market was valued at $18.6 billion in 2019 and it is projected to generate $1,005.9 billion revenue by 2030. The rising usage of head-mounted displays (HMDs) by individuals for education purposes a

Currently, companies such as LG Electronics Inc., ELO Touch Solutions Inc., NEC Corporation, Koninklijke Philips N.V., Panasonic Corporation, Seiko Epson Corporation, Sharp Corporation, and Crystal Display Systems Ltd. are offering interactive kiosks, interactive whiteboards, interactive tables, interactive monitors, interactive video walls, and interactive flat panels. At present, interactive kiosks are being preferred over other displays due to the burgeoning demand for self-service terminals, flourishing retail industry, and mounting focus of end users on an enhanced customer experience. Nowadays, interactive display manufacturers are focusing on partnerships and product launches for attracting more customers. Interactive Display Market Business Analysis, Growth and Forecast Report For example, in November 2019, LG Electronics Inc. launched infrared (IR)-enabled ultra-high-definition (UHD) interactive digital boards in 86-, 75-, and 65-inch models. All these boards can connect up

The security as a service market generated a revenue of $7.8 billion in 2019 and it is predicted to reach a value of $43.4 billion by 2030. Furthermore, the market will advance at a CAGR of 17.4% from 2020 to 2030, as per the estimates of the market research company, P&S Intelligence. The growing use of cloud computing solutions is one of the major factors driving the expansion of the market. The market is being driven by the growing implementation of the bring-your-own-device (BYOD) policy at workplaces, surging use of cloud solutions, and the increasing enactment of stringent government regulations that mandate the adoption of data security solutions by businesses. Since cloud solutions do not need physical information technology (IT) infrastructure and the involvement of IT professionals, their growing incorporation is massively reducing the financial burden on enterprises. Security As A Service Market Outlook and Opportunities in Grooming Regions In addition, these solutions e

A number of factors, such as the rise in the deployment of electric vehicles (EVs), technological advancements, surge in the concerns related to air pollution, and development of the EV charging infrastructure, are expected to drive the electric vehicle charging cables market in the foreseeable period (2021–2030). According to P&S Intelligence, the market generated revenue of around $250 million in 2020, which is expected to witness significant growth in the coming years. In conventional charging stations, cables are the medium through which the electric current enters a vehicle’s charging system. Moreover, key industry players, such as Leoni AG, Chengdu Khons Technology Co. Ltd., Coroplast Group, Aptiv plc, Dyden Corporation, General Cable Technologies Corporation, AMPLY Power, and TE Connectivity Ltd., have been involving in collaborations and partnerships to improve their position. EV Charging Cables Market Drivers and Growth Rate, Forecast by 2030 For example, in November 201

Online fitness platform developers such as ClassPass Inc., Peerfit Inc., FitnessOnDemand, CureFit, Navigate Wellbeing Solutions, Viva Leisure, Les Mills International Ltd., MoveGB, Charter Fitness Inc., Sworkit, GoodLife, Fitness First, Fit n Fast, and Wellbeats Inc. are offering subscription, advertisement, and hybrid revenue models to their customers.  To reach out to a vast clientele, these companies are engaging in mergers and acquisitions and focusing on developing platforms for content. For example, in January 2021, CureFit completed the acquisition of Onyx, a California-based company that specializes in the personalization of workout feedback and body tracking technology. According to P&S Intelligence, North America dominated the online fitness market in the preceding years, due to the high smartphone and internet penetration and massive public awareness about the benefits of a healthy lifestyle in the region. Online Fitness Market Growth Prospects, Key Vendors, and Future

The mushrooming requirement for temperature sensors in the automotive industry is driving their sales across the world. In this industry, these instruments are used for measuring the temperature of various systems, liquids, and gases within automobiles in order to ensure their proper functioning. Heating, ventilation, and air conditioning (HVAC) systems are the main automobile components in which these sensors are used.  Owing to these reason, the booming manufacturing and sales of automobiles, especially in the Asia-Pacific (APAC) countries, such as India, South Korea, and China, are fueling the demand for temperature sensors. Besides, the surging usage of smartphones is also predicted to fuel the temperature sensor market at a CAGR of 4.4% between 2020 and 2030 (forecast period). According to the estimates of the market research firm, P&S Intelligence, the revenue of the market will rise from $6.9 billion in 2019 to $11.1 billion by 2030 .  Temperature Sensor Market Key Manufactu