News Market Insights

The global mobile point-of-sale (POS) terminals market value stood at $19.5 billion in 2019, and it is predicted to register a CAGR of 17.9% from 2020 to 2030 (forecast period). The market is being driven by the growing focus of businesses on providing an improved customer experience and the advent of cashless transactions across the world. Additionally, many businesses are rapidly adopting mPOS terminals in order to provide faster check-out processes at stores and prevent the formation of long check-out queues, which not only waste customers’ time but also affect the shopping experience. These terminals assist customers in completing the sale and the check-out right from the main product area in a store by enabling digital payments. Besides this factor, the boom in the restaurant sector is also creating lucrative growth opportunities for the players operating in the mPOS terminals market . The surging number of restaurants all over the world is positively impacting the worldwide deman

The global hospital lighting system market revenue stood at $5,328.1 million in 2017 and it is predicted to surge to $7,755.4 million by 2023. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.4% from 2018 to 2023 (forecast period). The market is being driven by the surging number of hospitals and the soaring requirement for energy efficient lighting systems, on account of the increasing concerns being raised over the escalating greenhouse gas (GHG) emissions all over the world. Additionally, the lighting systems being used in hospitals are rapidly incorporating both artificial lights, such as lamps and light fixtures in corridors and lobbies and natural daylight, which is resulting in 45–70% light savings, which is, in turn, improving the energy efficiency of these lighting systems. Furthermore, LED lighting has several advantages over conventional lighting solutions, such as low power consumption, less maintenanc

In recent years, the sales of chillers have increased considerably in the Middle East and Africa (MEA) region, primarily because of the surging construction activities in the region. According to reports, the region’s construction industry registered a year-over-year (YoY) rate of 7.5% from 2018 to 2019, and it is predicted to grow at an average rate of 6.8% till 2022. Moreover, the launch of several infrastructure development projects has propelled the demand for chillers , as they are deployed in large numbers in railway stations, offices, supermarkets, buildings, and metro stations. The governments of several countries in the region have made huge investments in infrastructure development projects for upcoming events, such as the FIFA World Cup 2022 and the Dubai Expo 2020 (which has been postponed till 2021). Furthermore, Etihad Rail signed a memorandum of understanding (MoU) with ZonesCorp in March 2019 in order to establish logistics and railway facilities in the Industrial City

The increasing focus of the education sector on conversational learning, owing to the rapid adoption of e-learning and digital solutions, is facilitating the deployment of artificial intelligence (AI) technology in this sector. In conversational learning content is presented as a two-way conversation, owing to which the learning process becomes more interactive, customized, and interesting for students.  To transform the learning process through AI, educators are increasingly deploying chatbots, as they can be programmed as per the requirements of the learner. Additionally, the surging need for automating administrative tasks will is expected to drive the AI in education market at an exceptional CAGR of 32.9% during the forecast period (2020–2030).  According to P&S Intelligence, the market revenue stood at $1.1 billion in 2019, and it will reach $25.7 billion by 2030. Educators usually spend a lot of time grading exams, assessing homework, enrolling students, and defining policie

P&S Intelligence says that due to the rampant industrialization and with companies’ efforts to increase their manufacturing output further, the mobile collaborative robots market value, which was $543.3 million in 2019, will rise to over $6,800.0 million in 2030, at a high 26.3% CAGR between 2020 and 2030. Also called cobots, these robots are able to move autonomously across the factory floor, thereby increasing the operational efficiency and reducing the requirement for human controllers. In addition, with the Industry 4.0 revolution and government industrialization initiatives, such as the Made in China and Make in India missions, the demand for automated and smart factories has risen. The increasing complexity of the products to be manufactured and of the production process itself and the rising costs of hiring human laborers are also encouraging companies to employ robots. Mobile Collaborative Robots Market  its Future Outlook and Trends Stationary robots have already been wid

The U.S. Department of Energy has enacted the appliance/lighting efficiency standards under its Energy Independence and Security Act of 2007 (EISA) to steer the country toward greater energy security and independence. The EISA encourages the adoption of light-emitting diodes (LEDs) to reduce energy consumption by around 25%. Such regulations, which aim at curtailing energy consumption, are expected to augment the adoption of high-power LEDs in the forthcoming years. In comparison to conventional lights, these lights work for longer hours at lower maintenance costs. Moreover, the upcoming sports events, such as the 2022 Winter Olympics, 2023 ICC Cricket World Cup, and 2022 FIFA World Cup, will also help the high-power LED market to grow at a CAGR of 5.3% during the forecast period (2019–2024). According to P&S Intelligence, the market was valued at $12,647.2 million in 2018, and it will generate $17,581.5 million revenue by 2024. Stadiums and other sports venues are deploying LED-b

In recent years, the players in the Indian farming as a service market have focused on geographical expansion and product launches to consolidate their position. For instance, in June 2020, KhetiBuddy Agritech Private Limited introduced a free mobile app to offer farm management solutions to farmers. The app assists cultivators in managing the fields, harvesting, and sowing and guides them in personalizing the crop schedule based on soil data, weather, and inventory data by procuring localized information. Furthermore, in February 2021, Mahindra & Mahindra Ltd. introduced its FaaS business in Karnataka by establishing Krish-e centers. The type segment of the Indian farming as a service market is categorized into market access solutions, farm management solutions, and services. Under this segment, the farm management solutions category generated the highest revenue in 2020 due to the existence of a large number of market players and hefty investments made by public and privately ow

In recent years, the companies operating in the electric motor market have engaged in product launches to consolidate their position. For instance, in February 2021, Johnson Electric Holdings Limited launched a new series of low-voltage DC motors for actuators used in hospital beds, smart recliners, height-adjustable desks, and other smart furniture.  In the same vein, in June 2021, maxon motor AG introduced BIKEDRIVE Air, a 3.5 kg e-bike system that consists of an integrated battery, a mid-mounted motor, and a control element. Additionally, the players in the electric motor market are also opting for mergers and acquisitions to gain a competitive edge. For example, in March 2021, AMETEK Inc. acquired Crank Software, EGS Automation, and Magnetrol International for $270 million.  With the acquisition of Magnetrol International and EGS Automation, AMETEK Inc. aims to expand its level measurement solutions portfolio and widen its automation solutions portfolio. Furthermore, the acquisiti

AI-based cyber security solutions offered by BAE Systems Plc, Juniper Networks Inc., RSA Security LLC, NVIDIA Corporation, IBM Corporation, Check Point Software Technologies Ltd., Palo Alto Networks Inc., Acalvio Technologies, Fortinet Inc., FireEye Inc., and Cylance Inc. are used by end-users for data, network, identity and access, and cloud security.  Businesses use such solutions in unified threat management (UTM), identity and access management (IAM), data loss prevention (DLP), intrusion detection/prevention system (IDS/IPS), risk and compliance management, security and vulnerability management, threat intelligence, antivirus/antimalware, and fraud detection/anti-fraud applications. Geographically, North America dominated the AI in cyber security market in the preceding years due to the increasing deployment of cyber security solutions, owing to the rising incidence of cyberattacks in the region.  The increasing cases of cybercrimes, such as ransomware, is resulting in huge finan

All these services are offered via the subscription-based, transaction-based, and advertising-based models. In the coming years, the transaction-based model will be adopted at the highest rate as it enables service providers to generate revenue by selling the license of a software product to a single or multiple users.  Moreover, the increasing customer preference for purchasing whole content, such as full-license videogames with all the features, will fuel the shift toward transaction-based OTT platforms. Leading OTT service providers , such as Kakao Corp., The Walt Disney Company, Telstra Corporation Ltd., Roku Inc., Apple Inc., Netflix Inc., Facebook Inc., Amazon.com Inc., Rakuten Inc., and Google LLC (YouTube), are launching new platforms and services to reach out to a greater number of customers.  For example, in February 2021, Hulu introduced a free no-ad program with a 30-day trial period, to provide uninterrupted entertainment to users. After the completion of the trial period,

From $26.8 billion in 2019, the industrial refrigeration systems market is expected to reach a value of $41.1 billion by 2030. Furthermore, the market will exhibit a CAGR of 5.0% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major factors driving the market are the mushrooming utilization of refrigerators in the pharmaceutical and chemical industries and booming cold chain and food processing industries across the world. With the mushrooming sales of biologic products and biotech drugs, the cold chain industry is expanding rapidly. This is because special logistics solutions are required to maintain the quality of these temperature-sensitive (2–8 °C) products, especially during their transportation from warehouses to patients, pharmacies, clinics, and hospitals.  Moreover, the growing consumption of these items in developing and developed nations is fueling the expansion of the cold chain sector, which is, in turn, p

According to P&S Intelligence, the APAC smartwatch market is expected to exhibit the fastest growth during the forecast period. This will be due to the mounting demand for high-end wearable devices and surging technological developments by regional players, such as Titan. Additionally, the burgeoning demand for utility watches in China and the soaring popularity of smartwatches, in general, in India will contribute to the market growth in the region. The product segment of the smartwatch market is classified into classic, extension, and standalone. Under this segment, the extension category generated the highest revenue in 2017 due to the surging usage of next-generation smartwatches as an extension of smartphones and associated devices. Moreover, the increasing compatibility of connectivity, alerts, and tracking features with extension smartwatches is attracting more people toward them.  In the coming years, these smartwatches will gain huge prominence among the middle- and upper-

The burgeoning demand for renewable energy is the strongest driver for the market as renewable energy suppliers are using AI and other technologies to more accurately forecast weather patterns. Since the operation of solar and wind plants is directly dependent on weather, the usage of such technologies allows utilities to make better decisions on when to store most of the energy and when to sell it to the grid.  This is essential because of the surging number of solar and wind power plants in order to produce low-carbon electricity. As per the International Energy Agency (IEA), due to a 7% increase in the generation of renewable energy in 2020, its usage rose by 3%, while the consumption of fossil-fuel-based electricity decreased. Moreover, the share of renewable energy in the global electricity mix increased by 2% between 2019 and 2020, from 27% to 29%.  The renewable energy growth forecast for 2021 stands at around 8%, to 8,300 Terawatt-hours (TWh), which will keep acting as a strong

Geographically, the hospital lighting system market will exhibit the fastest growth in the Asia-Pacific (APAC) region during the forecast period. This is credited to the mushrooming urban population, especially in India, and the surging investments being made by private and public organizations in hospital lighting systems, especially in China. In addition, the governments of many regional countries are launching initiatives for encouraging the use of energy-efficient lighting systems, which is further boosting the requirement for hospital lighting systems in several healthcare institutions and facilities across the region. Depending on the product, the hospital lighting system market is divided into recessed, surface mounted, hanging, wall-mounted, and others, such as step lights, emergency lights, and exit lights. Surface-mounted systems are the most commonly used lighting systems, as they enable optimal light distribution in installed areas. However, in the coming years, the demand

Mobile collaborative robots or mobile cobots offer enhanced output quality and standardization in the manufacturing processes in the automobile industry. In comparison to human operators, mobile cobots can handle multiple tasks simultaneously, such as material handling, welding, and assembling. In recent years, the adoption of these robotic systems has significantly increased in the automotive sector, owing to the increasing level of automation in vehicles.  Thus, the ongoing developments in autonomous vehicles will facilitate the adoption of mobile cobots, globally, in the coming years. Moreover, the burgeoning demand for industrial automation solutions will also drive the mobile collaborative robots market at a healthy CAGR of 26.3% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will escalate from $543.3 million in 2019 to $6.8 billion by 2030.  The accelerating adoption rate of automation solutions in manufacturing facilities can be at

According to P&S Intelligence, the North American SD-WAN market generated the highest revenue during the historical period (2014–2019), due to the presence of established market players and extensive use of advanced technologies in the region. Moreover, the mounting focus of market players on the introduction of advanced SD-WAN solutions.  The increasing need of businesses to simplify their network operations, and surging government support regarding the expansion of the 5G network infrastructure also contributed toward the market growth in the region in the past years. Additionally, the mounting focus of market players on establishing partnerships with cloud service providers to help businesses secure a hybrid IT network will also support the market growth in the region in the coming years. Whereas, Asia-Pacific (APAC) is expected to register the fastest growth in the SD-WAN market during the forecast period. This will be due to the increasing deployment of wireless devices, risi