Makino is major company in the Micromachining Market

 According to the new market research report on the "Micromachining Market by Type (Traditional, Non-traditional, Hybrid), Process (Additive, Subtractive, Others), Axis (3 axes, 4 axes, 5 axes), Industry (Automotive, Aerospace & Defense), and Geography - Global Forecast to 2025", The global micromachining market size is projected to reach USD 3.3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.2%. The growth of this market can be attributed to the increasing preference for laser-based micromachining over traditional processes and increasing demand for miniaturization of microelectronic devices.

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Key Market Players

Major players operating in the global micromachining market are Coherent, Inc. (US), Georg Fischer Ltd. (Switzerland), Makino Milling Machine Co., Ltd. (Japan), Lumentum Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), DATRON Dynamics, Inc. (US), Han’s Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), and Heraeus Holding GmbH (Germany), among others.

COHERENT is one of the leading companies in the micromachining market. The company has a laser technology-focused micromachining product portfolio for applications in microelectronics, materials processing, and OEM components and instrumentation. The laser solutions offered by the company are of various types such as diode-pumped solid-state lasers (DPSS), fiber lasers, gas lasers (CO, CO2, excimer, ion), optically pumped semiconductor lasers (OPSL), ultrafast (UF) lasers, and semiconductor lasers. The company has focused its micromachining offering based on laser technology only and hence has a comprehensive product portfolio based on it. Also, more than 80% of the revenue of the company comes from outside of the US, suggesting that the company has a substantial reach worldwide.

Makino is another major company in the micromachining market. The company offers high-quality metal cutting and EDM machines that include horizontal machining centers, vertical machining centers, 5-axis machining centers, graphite machining centers, and wire and sinker EDMs. The company is present in Asia, the Americas, and Europe. The micromachining offerings by the company have features such as advanced spindle temperature control, rigid machine construction, and unique EDM advancements. The micromachining equipment is capable of high-speed machining and repeatability. The company has a comprehensive product portfolio in wire EDM that makes it robust in the market.

“APAC to be the largest market for micromachining during the forecast period.”

APAC is anticipated to be the fastest-growing region for micromachining due to technological innovations and adoption of the micromachining in the automotive and medical & aesthetics. Emerging economies in APAC are growing significantly in the micromachining market. The market in this region is led by China, India, and Japan, among others.

The APAC region is a promising and emerging market for micromachining owing to factors such as growing economies and booming automotive and manufacturing industries. A few leading micromachining manufacturing companies are from Japan, such as Makino, which offer innovative micromachining across different sectors.

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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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Ultra-Wideband Market | Companies with global supply chains are expected to be the most affected by this pandemic

 The report "Ultra-Wideband Market by Application (RTLS, Imaging, Communication), Positioning system (Indoor, Outdoor), Vertical (Healthcare, Automotive & Transportation, Manufacturing, Consumer Electronics, Residential, Retail), & Geography - Global Forecast to 2025" is estimated to grow from USD 1.1 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 19.6%. Major factors driving the growth of the UWB market include the rising demand for UWB technology in RTLS applications, the growing deployment of this technology in mobile devices, and the increasing adoption of the Industrial Internet of Things (IIoT).

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COVID-19 Impact on the Global UWB Market

UWB market is expected to witness a marginal dip in 2020 due to the COVID-19 pandemic as the movement restriction and lockdowns has resulted in the disruptions in the supply chain, However the use of remote monitoring technology, software managment tools could lead to higher adoption during post COVID-19 period. COVID-19 has disrupted the supply chain of different vertical of UWB market, which included healthcare, automotive & transportation, manufacturing, consumer electronics, and retail. The companies are exploring new opportunities to interact with manufacturers by leveraging advanced technologies.

Coronavirus, a deadly respiratory disease that originated in China, has now become a worldwide pandemic. The impact of COVID-19 is not fully evident on UWB market at the time being, but the slowdown in manufacturing and disruption in supply chain is expected to impact its market, at least in the short term. Labor shortage in the times of COVID-19 is expected to be the biggest challenge for companies across the world to overcome over the next 3–6 months. UWB based systems production facilities are either shut down or currently unable to produce at full capacity, and this could negatively affect Q2 and Q3 revenues of companies for 2020 and result in slower growth in the near term.

Companies with global supply chains are expected to be the most affected by this pandemic. As per industry experts, about 75% companies in the US could face supply chain issues in the coming months. If adverse effects of the virus become more prevalent in locations where customers, suppliers or manufacturers conduct business, the companies might experience constrained supply or curtailed demand that would provide material impacts in future periods. Companies are continuously monitoring the situation at their Chinese suppliers in order to ensure that the supply chain remains as efficient as possible and are also looking for alternative logistical routes wherever possible.

The effect of COVID-19 on the healthcare sector is more noticeable, as it is the epicenter of this unprecedented global pandemic challenge. Private companies has risen to the occasion, by offering support to the government, by providing testing support, preparing isolation beds for the treatment of Covid-19 positive patients, providing equipment such as ventilators, PPE kits, and masks. Systems such as Impulse‐Radio Ultra‐Wideband system, made up of static biomedical nodes is mounted on a patient’s body to collect vital data. UWB technology is also used for medical monitoring, and medical imaging. Due to COVID-19, the production of these systems is stopped.

The automotive & transportation sector is facing a disruption due to the shutdown of businesses. The disruption in Chinese parts exports, large scale manufacturing interruptions across Europe, and the closure of assembly plants in the United States. Due to abrupt closure of production centers in China, as well as, in all the major countries due to COVID-19, the supply chain is disturbed. Many automotive OEMs and suppliers are now establishing shorter or localized regional supply chain.

The consumer electronics market too has been affected by the COVID-19 pandemic. The sales of consumer electronics go off track due to localized lockdown in various countries. Also, the production facilities remained closed during the lockdown period, and due to shortage of raw materials there is a decline in the production of end products.

Key Market Players

Key players in the market are Decawave (acquired by Qorvo Inc. (US)), Apple (US), 5D Robotics (US), Pulse~LINK (US), BeSpoon (France), Zebra Technologies (US), NXP Semiconductors (Netherlands), Texas Instruments (US), Johanson Technology (US), Alereon (US), LitePoint (US), Fractus Antennas (Spain), Nanotron Technologies (Germany), Samsung Electronics (South Korea), Sony (Japan), Ubisense (UK), Alteros (Ohio), and Starix Technology (US).

These players are increasingly undertaking product launches and developments, and acquisitions to develop and introduce new technologies and products in the market.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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What are the Opportunities and Challenges for Quantum Dots Market?

 According to a recently published research report "Quantum Dot Market by Product (Display, Medical Devices, Solar Cells, Photodetector/ Sensors, Lasers, Lighting (LED), Batteries and Energy Storage, and Transistors), Material (Cadmium-Based, Cadmium-Free), Vertical, and Region - Global Forecast to 2025", The global quantum dot market size is expected to grow from USD 3.5 billion in 2020 to USD 10.6 billion by 2025, at a CAGR of 24.6%. Increasing demand for quantum dot in display devices and advanced features of quantum dot are creating scope for the quantum dot industry.

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Opportunity: Rising adoption of quantum dots in LED lighting

Display and lighting are 2 major industries in the quantum dot market. At present, quantum dot technology is the most attractive alternative to conventional display technologies. This technology is likely to be commercialized soon in the lighting segment as lighting solution providers have started using quantum dots for manufacturing lighting devices. For instance, in May 2019, OSRAM started using quantum dots for manufacturing LEDs. Quantum dots are expected to gain considerable acceptance due to their ability to offer outstanding efficiency and high color rendering indexes.

Challenge: Adverse impact of falling prices of conventional LCD/LED and OLED displays on quantum dot displays

The development of cost-effective manufacturing methods is expected to reduce the cost of competitive technologies such as OLED, LCD backlight, and LED. Prices of quantum dot hardware are expected to reduce in the next few years. The price of small quantum dots display substrates is also expected to reduce; this decline is likely to be countered in the long run by an increase in the size of substrates, which would be more expensive than existing panels. Therefore, quantum dot display prices need to be reduced to compete effectively with LCDs. Such a fall in prices of the competitive technologies can have a high impact on quantum dot-based displays in the short and long term.

“APAC quantum dot market to grow at highest CAGR during the forecast period.”

The adoption of quantum dot products in lighting, automotive, consumer electronics applications drives the quantum dot industry growth. As of now, quantum dot are in a pre-commercialization stage; however, in the coming years, the quantum dot will be deployed in mobile displays, batteries and energy storage systems, solar cells, medical devices, and solid-state lighting solutions. Therefore, APAC is expected to command the quantum dot market in the near future.

Key players in the quantum dot industry include Samsung Electronics (South Korea), Nanosys (US), Nanoco Group (UK), NN-Labs (US), Ocean NanoTech (US), Quantum Materials (US), OSRAM Licht (Germany), Avantama (Switzerland), Navillum Nanotechnologies (US), Crystalplex Corporation (US), RANOVUS (Canada), Innolume (Germany), QUANTUM SOLUTIONS (Saudi Arabia), NanoPhotonica (US), UbiQD (Mexico), Fraunhofer IAP (Germany), TCL (China), VIZIO (US), Hisense (US), and QD Lasers (Japan)

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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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Shortwave Infrared (SWIR) Market | Which countries are expected to witness significant growth

 The report "Shortwave Infrared (SWIR) Market with COVID-19 Impact Analysis by Scanning Type (Area Scan and Line Scan), Technology (Cooled and Uncooled), Application (Security and Surveillance, Monitoring and Inspection, and Detection), Vertical (Industrial and Non-industrial), and Region - Global Forecast to 2025", is projected to grow from USD 177 million in 2020 to USD 279 million in 2025, at a CAGR of 9.6%. The growth can be attributed to the rising demand for line-scan SWIR cameras for machine vision applications, increasing penetration of SWIR cameras in the military & defense vertical, and growing adoption of SWIR cameras in commercial applications.

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APAC, by region, is expected to grow at the highest CAGR during the forecast period.

APAC is set to witness the highest growth rate during the forecast period due to the numerous manufacturing capabilities of the region. The demand for SWIR technology is increasing in daily manufacturing operations and for reducing the manufacturing costs of products. SWIR detectors are used in the manufacturing process of electronics, food & beverage, and glass and security & surveillance. Considering the tensions between India, Pakistan, and China, the demand for SWIR technology is rising from the military & defense sector of these countries for installations at borders for monitoring and security applications.

Key market players

Key players in the SWIR market include Collins Aerospace (US), FLIR Systems (US), Xenics NV (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), and Hamamatsu Photonics K.K. (Japan). FLIR Systems is a well-known player for providing innovative and customized SWIR products. An impactful brand name and a large customer base are among the key factors that have resulted in the leading position of Collins Aerospace in the SWIR market. Additionally, the company has strong R&D capabilities and geographic presence. Xenics focuses on strategies such as product launches and developments to strengthen its product portfolio and maintain its position in the SWIR market.

North America, by region, is expected to account for the largest market share during the forecast period

One of the major reasons for North America’s domination of the market is the presence of several prominent military & defense, scientific research, and medical players, which is generating demand for SWIR cameras. As North America is the largest producer of weapons and ancillaries, SWIR products are one of the important technologies being marketed. Moreover, several companies offering SWIR cameras are present in this region, which further adds to the growth of the SWIR market in North America.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Market for IIoT to hold major share of smart manufacturing market in 2025

 The report "Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region - Global Forecast to 2025", is expected to be worth USD 214.7 billion in 2020 and USD 384.8 billion by 2025, growing at a CAGR of 12.4% from 2020 to 2025. Factors that drive the growth of the market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, rising emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost.

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Market for IIoT to hold major share of smart manufacturing market in 2025

IIoT is expected to hold the largest share of the market, by enabling technology, in 2025. Various technologies are using IIoT to improve the functioning of the processes. These devices & technologies comprise sensors, RFID, industrial robotics, distributed control systems, condition monitoring, smart meter, electronic shelf label, cameras, smart beacon, interface board, yield monitor, guidance and steering, GPS/GNSS, flow and application control devices, and networking technology. The use of IIoT in these devices & technologies helps in analyzing the data collected via various devices and enables effective decision making.

Energy & power industry to hold largest size of smart manufacturingmarket in 2025

Technological advances in developing markets such as India, China, Brazil, and the Middle East are likely to create significant opportunities for automation in these markets. As a result, a number of smart manufacturing solution providers have targeted this industrial sector. The power industry is growing rapidly because of the globally rising demand for energy. This results in high pressure on power-manufacturing companies to deliver cheap and reliable energy. Also, it becomes necessary for power-manufacturing companies to utilize available resources efficiently, reduce maintenance costs, and further enhance plant performance. Moreover, PAM and HMI solutions help power plant owners, operators, and original equipment manufacturers (OEMs) make improved business decisions regarding the performance and operational readiness of their assets.

Smart manufacturingmarket in APAC to grow at highest CAGR from 2020 to 2025

The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2020 to 2025. China is one of the fastest-growing economies in the world and a global manufacturing hub for semiconductor and automotive industries. This is leading to the increasing adoption of advanced manufacturing technologies such as HMI, MES, AI, condition monitoring, AGV, and WMS. Smart manufacturing technologies are used in these industries to enhance the overall performance of manufacturing plants and improve production output. In addition, the growing economy and technological developments in various industries encourage the application of these technologies for monitoring and controlling production processes.

A few other companies involved in the development of smart manufacturing solutions include 3D Systems (US ), CISCO (US), General Electric (US), Honeywell (US), IBM (Europe), Mitsubishi Corporation (Japan), Schneider (Europe), Siemens (Europe), Oracle (US), SAP (Europe), Yokogawa (Japan) and Stratasys (US).

Don’t miss out on business opportunities in Smart Manufacturing Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Top Battery Types and Top Applications in Lithium-Ion Battery Market

 According to the new market research report "Lithium-Ion Battery Market by Type (Li-NMC, LFP, LCO, LTO), Power Capacity (0-3,000 mAh, 3,000 mAh-10,000 mAh, 10,000 mAh-60,000 mAh, above 60,000 mAh), Industry (Consumer Electronics, Automotive, Industrial), Voltage, Region – Global Forecast to 2025", is estimated to grow from USD 44.2 billion in 2020 to reach USD 94.4 billion by 2025 at a CAGR of 16.4%. The lithium-ion battery industry is likely to exhibit lucrative growth potential during the forecast period. Factors such as increasing demand for plug-in vehicles, growing need for automation & battery-operated material-handling equipment in industries, increasing demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for various industrial applications are driving the growth of the lithium-ion battery market.

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Lithium-Ion Battery Market and Top Applications

• Consumer Electronics – Continuous technological developments in consumer electronics have boosted the growth of lithium-ion battery market. Li-ion batteries are in high demand for the consumer electronics application because they offer higher density, better durability, offers less recharge time, and more energy storage than other batteries. Lithium-ion batteries are a state-of-the-art power source for all modern consumer electronic devices. Being environment-friendly, lithium-ion batteries are widely accepted by electronics manufacturers.
• Automotive − The automotive industry is expected to be one of the major segments for lithium-ion batteries. Battery-driven vehicles such as electric vehicles, e-bikes, and automated guided vehicles, are major consumers of lithium-ion batteries. The market for these vehicles is expected to grow due to increasing adoption and awareness of EVs, partly driven by the adoption of various environmental norms and emission regulations. This has resulted in an increase in the demand for Li-ion and Ni-Mh batteries.
• Industrial – Lithium-ion batteries are used in various industrial applications. These batteries provide advantages in terms of carbon emissions and safety in underground environments. Batteries with high energy density and longer backup are required to improve the efficiency and performance of industrial equipment. Rapid infrastructural growth and support from governments and industry associations for the adoption of lithium-ion batteries are boosting the demand for construction and mining equipment, which is further leading to the growth of lithium-ion batteries in the industrial sector.
• Power − The power industry is working on generating renewable energy and storing it for multiple uses. Attributes such as low cost, less space required for installation, and low self-discharge rate are some of the driving factors for the adoption of lithium-ion batteries in smart grid and renewable energy storage systems. The lithium-ion battery technology is being used in power plants to achieve maximum efficiency. These batteries are more resistive to extreme temperature situations, making them suitable for use in remote locations and for thermal management options.

Lithium-Ion Battery Market and Top Battery Types

• Lithium Nickel Manganese Cobalt (Li-NMC) – Li-NMC batteries are preferred due to their low self-heating rate. Electric vehicles require high capacity and high power, which can only be provided by the NMC battery type. These batteries have a very low self-heating rate and are used in electric vehicles such as Nissan Leaf, Chevy Volt and BMW. Like other lithium-ion battery varieties, NMC batteries can have either a high specific energy density or a high specific power. Other application areas of Li-NMC batteries are e-bikes, power tools, medical equipment and other electric powertrains.
• Lithium Iron Phosphate (LFP) – The LFP technology is used in medium-power traction applications (AGV, E-mobility) or heavy-duty applications (marine traction, industrial vehicles, etc.) due to its high power density. The long service life of the LFP battery and the possibility of deep-cycling make it suitable for energy storage applications (stand-alone applications, off-grid systems) or stationary use in general. The LFP battery has a long life cycle, high current rating, good thermal stability, enhanced safety due to better tolerance, and better performance and competence. These attributes make it fit for use in numerous high-power applications.
• Lithium Cobalt Oxide (LCO) − The Lithium Cobalt Oxide (LCO) battery is the most popular type of lithium-ion battery after the LFP battery. LCO batteries have high energy density and are favoured as a power source in consumer electronics such as smartphones, tablets, laptops and digital cameras, among others. The LCO battery is made up of a graphite carbon anode and a cobalt oxide cathode with a layered structure. However, a short life span (two to three years), low thermal stability and limited power density make them unsuitable for most other applications.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.
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Automated Passenger Counting System Market expected to be worth $245 million by 2025

 The report "Automated Passenger Counting System Market with COVID-19 Impact, by Technology (IR, ToF, Stereoscopic Vision), Passenger Information System Market by Type (Display System, Mobile Applications), Application and Region - Global Forecast to 2025", was valued at USD 155 million in 2019 and is projected to reach USD 245 million by 2025; it is expected to grow at a CAGR of 13.2% from 2020 to 2025. The passenger information system market was valued at USD 7.0 billion in 2019 and is projected to reach USD 8.9 billion by 2025; it is expected to grow at a CAGR of 12.5% during the forecast period.

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Government regulations regarding the requirement of transit data, surged demand for advanced solutions in the transportation sector, deployment of automated passenger counting systems to optimize operational costs of transit agencies, and increased demand for real-time transit information from passengers and proper fleet management by transit vehicle operators owing to COVID-19 are the key drivers for the growth of the automated passenger counting and information system market.

The automated passenger counting and information system market includes major Tier I and II players like iris-GmbH Infrared & Intelligent Sensors (Germany), HELLA Aglaia Mobile Vision GmbH (Germany), Eurotech (Italy), DILAX Intelcom GmbH (Germany), and Infodev Electronic Designers International Inc. (Canada). These players have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and RoW. COVID-19 has impacted their businesses as well. Multiple manufacturing facilities of players have shut down due to COVID-19. According to primary respondents, the impact of COVID-19 is expected to be for the short-term; hence, the pandemic is assumed to prevail maximum until the fourth quarter of 2020. Thus, the extension of lockdowns owing to the COVID-19 in various countries worldwide has not been factored in this study

Increased demand for real-time transit information from passengers and proper fleet management by transit vehicle operators owing to COVID-19

The outbreak of the COVID-19 has made automated passenger counting more important than ever. The ability of these systems to show live occupancy figures in vehicles helps passengers to follow the social distancing recommendations while using public transport. Regulations limiting the number of onboard passengers in public transport have been introduced in a number of countries to ensure the safety of passengers and drivers. Video counting systems are also used for the purpose. They show the number of passengers in real-time on meters, smartphones, web browsers, etc. Cameras/sensor installed over doors of buses are linked to counting unit software, which detects the number of entries and exits in buses. These counters store passenger numbers without their identification so that their privacy is protected.

The stereoscopic vision segment of the automated passenger counting system market is projected to grow at the highest CAGR during the forecast period.

The stereoscopic vision technology has been gaining traction in the market for the past few years as it gathers accurate information from the high-volume traffic data. Moreover, this technology can also easily detect the direction wherein passengers are moving. The stereoscopic vision technology also enables bus operators to determine the actual number of passengers at each stop or during each trip. It helps in increasing revenues of bus operators as automated passenger counting systems enable crosschecking of the number of passengers against the issued tickets.

With automated passenger counts, bus companies can easily generate reports and monitor ridership trends over time for external funding agencies and transit authorities such as the Federal Transit Administration (FTA). As a number of bus companies are using automated passenger counting systems in their vehicles as a standard, the stereoscopic vision technology segment of the automated passenger counting system market is projected to grow at a significant rate in the coming years.

The buses segment is projected to lead the automated passenger counting system market from 2020 to 2025

Buses are a primary mode of public transport used in various countries such as the US, Canada, Germany, the UK, China, India, and Australia. They are equipped with passenger counting systems for reliable and safe service offerings, as well as for enhancing their transit operations. With automated passenger counting systems installed in buses, the transporters can determine the cost of passengers per mile and the number of passengers per driver. This data helps operators in making decisions for optimized operations. Hence, it has become a standard for bus operators to deploy passenger counting systems. The increasing adoption of intelligent transportation systems provides opportunities for the manufacturers of automated passenger counting systems as these systems are often implemented as a part of the intelligent transportation systems.

Mobile applications segment of the passenger information system market to grow at the highest rate from 2020 to 2025

The use of mobile applications is expected to rise substantially with significant advancements in technologies and increased use of smartphones among passengers. These applications provide passengers access to information irrespective of their location, enable them to view maps, and guide them to station and stop layouts. These features encourage new passengers to use public transit services by providing them remote access to detailed information regarding schedules, fares, routes, etc. For instance, in July 2020, the MetroWest Regional Transit Authority (MWRTA) of the US launched a new mobile app to allow users to communicate with the bus dispatchers of the transit authority and alert commuting shuttle bus drivers about train delays.

Automated passenger counting and information system market in APAC to grow at the highest rate from 2020 to 2025

The growth of the market in the APAC region can be attributed to the developing transportation sector, increasing number of buses and rails equipped with automated passenger counting and information systems. Moreover, the rising number of government initiatives to improve transportation services in APAC and surging investments in the transport sector transportation sector will drive growth. China and India are highly populated countries in the world. Thus, transit operators in these countries are adopting automated passenger counting and information systems to schedule routes and timing of public transport according to the requirements of passengers for the optimum utilization of their resources. The deployment of these systems enables the development of reliable and timely transportation services to a large population. The passenger information systems are used to convey schedules, route changes, and other real-time information such as arrival and departure time of vehicles, as well as delays, if any, to passengers.

iris-GmbH Infrared & Intelligent Sensors (Germany), HELLA Aglaia Mobile Vision GmbH (Germany), Eurotech (Italy), DILAX Intelcom GmbH (Germany), Infodev Electronic Designers International Inc. (Canada), Cisco Systems, Inc. (US), Siemens AG (Germany), Hitachi, Ltd. (Japan), Samsung Electronics Co., Ltd. (South Korea), Innovation in Traffic Systems SE (Germany), BOE Technology Group Co., Ltd. (China), Clever Devices Ltd. (US), Ermetris SRL (Italy), EyeRide (US), Giken Trastem Co., Ltd. (Japan), GMV Syncromatics (US), LG Electronics (South Korea), Passio Technologies (US), Postec Technology (Brazil), r2p GmbH (Germany), Wabtec Corp. (US), and Xovis AG (Switzerland) are some key players operating in the automated passenger counting and passenger information system market.

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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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Top Hardware Type and Top Companies in Geographic Information System (GIS) Market

 According to the new market research report on the "Geographic Information System Market by Offering (Hardware (GIS Collector, Total Station, LiDAR), Software, Services), Function (Mapping, Surveying, Telematics and Navigation, Location-Based Service), Industry, Region - Global Forecast to 2025", the global geographic information systems (GIS) market size is expected to grow from USD 8.1 billion in 2020 to USD 14.5 billion by 2025 at a CAGR of 12.4% from 2020 to 2025. A few key factors driving the growth of this market include the development of smart cities and urbanization, integration of geospatial technology with mainstream technologies for business intelligence, and the adoption of GIS solutions in the transportation sector.

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Geographic Information System (GIS) Market and Top Companies

• Environmental Systems Research Institute, Inc. (Esri) (US) −The Company is one of the leading GIS software providers. Environmental Systems Research Institute, Inc. (Esri) designs and supplies GIS and mapping software, web GIS, and geodatabase management applications. The company offers ArcGIS, a suite of GIS software products. A few of the key products offered by Esri in the GIS market are ArcGIS Pro, ArcGIS Online, ArcGIS Enterprise ArcMap, ArcView, ArcInfo, ArcEditor, ArcIMS, and CityEngine.
• Autodesk (US) −The Company is a leading 3D design, engineering, and entertainment software developer and supplier in the world. The company has developed a broad portfolio of geospatial software solutions to help users visualize, simulate, and analyze real-world performance. The company also provides digital media creation and entertainment software. A few of its key GIS products are AutoCAD Map 3D, AutoCAD MapGuide Enterprise, AutoCAD Civil 3D, and InfraWorks. The company provides its products to customers in architecture, engineering, construction, civil infrastructure, natural resources, manufacturing, consumer, and media and entertainment industries.
• Trimble (US) − The Company provide location-based solutions including 3D scanners and software solutions. The company, through its Engineering & Construction segment, serves customers in engineering, architecture, construction, utilities, and government sectors. The Mobile Solutions segment provides hardware and software applications for managing mobile workers and mobile assets. The Advanced Devices segment includes offerings such as Applanix, Trimble Outdoors, military and advanced systems, and ThingMagic.
• Pitney Bowes (US) − The Company is a provider of customer information management, location intelligence, shipping and mailing, and e-commerce solutions. The company, through its Small and Medium Business Solutions segment, offers equipment, software, and services for digital mailing. The company, through its Digital Commerce Solutions segment, offers information management, location intelligence, customer engagement software, shipping management, and cross border e-commerce solutions for various businesses. It serves customers in financial services, insurance, public sector, telecommunications, retail, and healthcare industries.
• Hexagon AB (Sweden) – The Company is a leading global provider of geospatial technologies for industrial and enterprise applications. The company is focused on delivering precision measuring technologies. It operates through two segments, namely, Geospatial Enterprise Solutions (GES) and Industrial Enterprise Solutions (IES). The Geospatial Enterprise Solutions segment is further divided into geosystems, safety and infrastructure, and positioning intelligence. The company through its Geospatial Enterprise Solutions segment offers various software and hardware solutions related to GIS.
• Topcon Corporation (US) – The Company provides innovative positioning technologies with the use of mapping, scanning, and application software. The company offers cost-effective products with improved quality and productivity to its customers. The company’s operations are organized into 3 global divisions—Positioning Company, Eye Care Company, and Smart Infrastructure Company. Its Positioning Company division offers GNSS receivers, GIS, GPS+Reference station systems, machine control systems, precision agriculture equipment, and asset management systems.
• Caliper Corporation (Canada) – The Company is a technology leader in the development of GIS. The company offers GIS and transportation software solutions. It provides consulting and professional services in quantitative management consulting, transportation, and decision support systems development. In addition, the company offers Maptitude, a GIS software package. The company also provides custom software development, custom mapping, and mapping software training.

Geographic Information System (GIS) Market and Top Hardware Type

• Total Station − A total station is a surveying equipment integrated with an electronic distance measurement (EDM), microprocessor, electronic data collector, and storage system. Total stations are designed to measure slant distances, horizontal angles, vertical angles, and elevations for surveying applications. Most of the GIS mapping work is performed by total stations. In modern surveying, two types of total stations are used— manual total stations and robotic total stations. Of these total stations, robotic total stations are in greater demand as they allow the operator or the user to control the instrument remotely. Surveyors and construction professionals are adopting total stations for high-precision surveying; this factor is thereby, driving the demand for total stations.
• GIS Collectors − GIS collectors are used for collecting data related to shop floors or fields. Data collection is a real-time and event-oriented process carried out by construction professionals. GIS collectors derive data manually from a computer or directly from the place of their origin. GIS collectors allow construction professionals to carry out accurate measurements related to site reconnaissance, progress measurement, and site inspection. A few of these GIS collectors are integrated within cellular modems, GPS, cameras, and displays. Moreover, GIS collectors help in spatial analysis for manipulating, extracting, locating, and analyzing the geographic data. They are widely adopted for capturing, storing, recovering, analyzing, and displaying spatial data.
• LIDAR − LIDAR, an acronym for light detection and ranging, is an optical remote sensing technique used to sample the surface of the earth. It is used to collect accurate data regarding the elevation, contour, and vegetation on ground surfaces. LIDAR is a highly accurate and cost-effective solution compared with traditional photogrammetry techniques of mapping. The major components of LIDAR include laser scanners, collection vehicles (aircraft or UAV), GPS, and inertial measurement units (IMU). LIDAR is mainly used for airborne laser mapping applications. Various types of LIDAR techniques are used for GIS data collection such as airborne LIDAR, terrestrial LIDAR, UAV LIDAR, and mobile LIDAR.
• GNSS/GPS antenna - GNSS/GPS antenna is a critical component of the GNSS receiver module. GNSS/GPS antenna receives radio signals from satellites and converts them to electronic signals for use in a GNSS receiver module. GNSS receiver is used in numerous application sectors such as ground mapping, surveying, tracking, positioning, precision agriculture, and construction. GNSS/GPS high-precision antennas are used in challenging environments such as closed or covered areas to provide accurate location positioning. Trimble Inc. (US) and Leica Geosystems (Switzerland) are leading companies that provide GPS/GNSS antennas.

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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Key Market Players in Power Electronics Market

 According to the new market research report on the "Power electronics Market with COVID-19 Impact Analysis by Device Type (Power Discrete, Power Module and Power ICs), Material (Silicon, Silicon Carbide and Gallium Carbide), Voltage (Low Voltage, Medium Voltage and High Voltage), Vertical (ICT, Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defense), and Geography - Global Forecast to 2025", The global power electronics market size is expected to grow from USD 35.1 billion in 2020 to USD 44.2  billion by 2025, at a CAGR of 4.7%.

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APAC is expected to grow at the highest CAGR during the forecast period

APAC is likely to grow at the highest CAGR for the global power electronics industry from 2020–2025. APAC is expected to continue to hold the largest market size and expected to be the fastest-growing region in the power electronics market owing to the rapid development of consumer electronics products, which drives power IC market. Consumer electronics, industrial, and automotive are among important verticals in the APAC market

Renewable energy generation is one of the key revenue pockets for the market in APAC. Governments in multiple countries of the region are motivating the shift towards renewable energy generation, mainly photovoltaics or solar, in the form of various offers and subsidies. Fast-track adoption of electric vehicles across the region is also a prime factor driving the power electronics market growth. Various countries in APAC have set targets to increase the adoption of electric vehicles to reduce pollution levels. For instance, China raised its 2025 sales target for electrified cars; the country wants about 25% of new cars sold by 2025 to be electrified. The Japanese government has aimed to have all new cars sold in Japan to be electric or hybrid vehicles by 2050. Likewise, the Korean Government is aiming to achieve electrification of 33% of new vehicles by 2030. All these factors expected to drive the growth of the power electronics market in APAC.

Key Market Players

Infineon Technologies (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Vishay Intertechnology (US), Fuji Electric (Japan), NXP Semiconductors (Netherlands), Renesas Electronics (Japan), Texas Instruments (US), Toshiba (Japan), ABB (Switzerland), GaN Systems (Canada), Littelfuse (US), Maxim Integrated (US), Microchip (US), ROHM (Japan), SEMIKRON (Germany), Transphorm (US), UnitedSiC (US), and Wolfspeed, A Cree Company (US) are some of the key players operating in the power electronics market.

Infineon Technologies is the leading player across the semiconductor solutions market. Set up in 1999 in Munich, Germany, the company’s product offerings include power semiconductors, microcontrollers, security controllers, radio frequency products, and sensors. Infineon offers a wide range of power electronic products, such as MOSFETs, IGBTs, Linear Voltage Regulators, DC-DC converters, Diodes & Thyristors, and Intelligent power modules, which serve a wide range of applications, including switch-mode power supplies (SMPS), computing, motor control and drives, consumer, mobile devices, lighting solutions, and automobiles. . The company focuses on technology leadership by focusing on advanced products to expand its abilities and strengthen its core businesses. As a part of this, the company started conducting research studies on new materials for power semiconductors at an early stage, which led to higher adoption of SiC and GaN in power electronics products. The company is one of the early entrants in the GaN and SiC power electronics market. The company also focuses on in-house manufacturing strategy to differentiate itself from its competitors in terms of cost and performance.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Contact type temperature sensor segment to hold the larger share in the temperature sensor market

 According to the new research report, "Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region – Global Forecast to 2027" is projected to grow from USD 6.3 billion in 2020 to USD 8.8 billion by 2027, recording a CAGR of 4.8%. The industry growth is driven mainly by increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the automotive sector, and rising adoption of home and building automation systems.

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“Contact type temperature sensor segment to hold the larger share in the temperature sensor market during the forecast period.”

The contact type temperature sensor segment is projected to hold larger share in the temperature sensor industry during the forecast period, owing to contact temperature sensors are widely used in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, because of their low cost, wide temperature ranges, and high accuracy. Contact type temperature sensor has been segmented further into thermocouples, resistive temperature detectors, thermistors, temperature sensor ICs, and bimetallic temperature sensors.

Food & beverages end-user industry to witness the highest CAGR during the forecast period

The food & beverage end-user industry is projected to record the highest CAGR in the temperature sensor market from 2019 to 2027. Temperature monitoring and control is required for quality assurance during production, storage, and transit. Temperature sensors are particularly used for monitoring temperature according to the stringent rules & regulations for complicated processes in the food end-user industry, such as brewing, bottling, fermentation, storage, emulsification, piping, canning, and pasteurization.

Absolute humidity sensor to hold the larger share in the humidity sensor industry during the forecast period

The humidity sensor comprises an absolute humidity sensor and a relative humidity sensor. The absolute humidity sensor segment is projected to hold a larger share in the humidity sensor market during the forecast period. Absolute humidity sensors, supported by two NTC thermistor elements, measure the absolute humidity by measuring the difference in thermal conductivity of dry air and the air containing water vapor. These humidity sensors are used for measuring humidity in HVACs, fax machines, printers, automotive, weather stations, refrigerators, and food processing units.

Expanding automobile & industrial manufacturing sector to drive the demand for temperature sensors in APAC during the forecast period

The temperature sensor market in APAC is projected to grow at the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in APAC.

Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Also, robust demand for consumer equipment, including portable healthcare electronics and white goods, is expected to foster the demand for temperature sensors. Furthermore, the increasing adoption of automated technologies across diverse industries, especially in automotive and food & beverages, is likely to generate demand for temperature sensors in APAC. Other factors driving the temperature sensor market in APAC include escalating demand for temperature sensors from the overseas markets of North America and Europe.

Key players operating in the temperature sensor market include Honeywell (US), TE Connectivity (Switzerland), Texas Instruments (US), Endress+Hauser (Switzerland), Siemens (Germany), Texas Instruments (US), Dwyer Instruments (US), Maxim Integrated (US), WIKA Instrument (Germany), Amphenol (US), and Emerson (US). The majority of the companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

Don’t miss out on business opportunities in Temperature Sensor Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Covid-19 Impact on the Industrial sensors market

 The report "Industrial Sensors Market with Covid-19 impact by Sensor (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Temperature and Humidity & Moisture Sensor), Type, End-use industry, and Geography - Global Forecast to 2025", size is expected to grow from USD 18.2 billion in 2020 to USD 29.0 billion by 2025, at a CAGR of 9.8%. Growing popularity of industrial 4.0 and IoT and increasing demand of industrial robotics are the key factors driving the growth of the Industrial Sensors market.

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Covid-19 Impact in the Industrial sensors market

The outbreak of the COVID-19 pandemic has adversely impacted the growth of several industries, including manufacturing, oil & gas, and many others. Oil & gas is a major end-use industry of the industrial sensor market. Due to COVID-19, many ongoing or new projects across the oil and gas value chain are likely to face many challenges in terms of project execution, planning, and risk management. More than 2000 EPC oil & gas projects across various segments, including LNG, petrochemical, and oil storage & refineries, have to come to a halt or are delayed due to the pandemic. The energy research firm Rystad Energy has predicted that a 25% decline in oil prices could result in a cut in oil and gas investments by USD 30 billion globally.

The automotive and transportation is also a major end-use industry of the industrial sensors market. Many countries, including the US, China, Japan, and South Korea, have stopped the production of automobiles due to the COVID-19 pandemic.

Apart from oil & gas and automotive many other industries across the world, including power generation and mining, have suspended production activities in almost all the countries due to the pandemic. This is expected to lower the demand for industrial sensors and significantly impact the market growth during the forecast period.

APAC to hold largest share of Industrial Sensors market in 2019

In terms of value, APAC  led the Industrial Sensors  market in 2019, accounting for the largest share of the overall Industrial Sensors market, by region. As China is among the major industrial areas in the world, the industrial sensors market in APAC is expected to record the largest market share by 2025. Key countries for the industrial sensors market in APAC are China and Japan. APAC has vast opportunities for revenue generation from the industrial sector in the coming years.

Rockwell Automation (US), Honeywell (US), Texas Instruments (US), Siemens (Germany), Bosch Sensortec (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), Amphenol Corporation (US), Integrated Device Technology (US), TE Connectivity (Switzerland), Omega Engineering (US), Sensirion (Switzerland), Ams AG (Austria), Microchip (US), NXP Semiconductors (Netherlands), Teledyne Technologies Incorporated (US), Figaro Engineering inc (Japan), and Safran Colibrys SA (Switzerland)   are a few major companies dominating the industrial sensors  market.

Don’t miss out on business opportunities in Industrial Sensors Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Industrial Valves Market | The water & wastewater treatment and energy & power industries are among the key end-users of valves

 The report "Industrial Valves Market With COVID-19 & Oil Price Crisis Impact Analysis By Function (On-off/Isolation, Control), Material, Type, Size, End-User (Oil & Gas, Energy & Power, Water & Wastewater Treatment), and Region - Global Forecast to 2025", size was valued at USD 48.1 billion in 2020 and is projected to reach USD 85.7 billion by 2025. It is expected to grow at a CAGR of 12.3% during the forecast period. Increasing demand for valves from the pharmaceuticals industry due to the outbreak of the COVID-19 pandemic, growing focus on the development of smart cities globally, rising need for connected networks to maintain and monitor industrial equipment, and surging requirement for establishing new nuclear power plants and revamping existing ones are the key driving factors for the industrial valves market.

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The world is facing an economic crisis caused by the COVID-19 pandemic outbreak. The pandemic has affected the oil & gas industry badly, with oil prices slashing like never before. Major producers of oil are running out of storage space for extracted oil, and the demand is on a declining trend. This has resulted in a huge gap between supply and demand. Oil & gas is one of the key industries using valves. The water & wastewater treatment and energy & power industries are also among the key end-users of valves. These industries are also witnessing a shrinking demand due to the pandemic situation globally. There is a restriction on foreign trades due to the lockdown of international borders, non-operational distribution channels, and various government laws to take precautionary measures for public health and safety. However, it is expected that there will be an increasing focus on hygiene and sanitation due to the rise in people’s concern for a better and safer lifestyle. An increase in demand from the energy & power sector is also likely to drive the industrial valves market for the energy & power end-use industry gradually from 2021 to 2025.

Opportunity:  Implementation of valves in water & wastewater treatment plants to handle sanitation-related issues with the rapid spread of COVID-19

In the COVID-19 pandemic situation, water utilities are under close observation to provide safe drinking water and sanitation. The outbreak of coronavirus has created insecurity among people. Water & wastewater treatment is among the essential services, and hence, the plants are operational for all residential services. The pandemic has made people more concerned about sanitation and clean water. Thus, investments in establishing water treatment plants are expected to propel the growth of the industrial valves market.

Additionally, the aging infrastructure in the water & wastewater treatment industry is the primary concern in several countries. For instance, the US has a wide network of old pipelines that are used for transporting water and wastewater. Valves used in old infrastructure are also on the verge of replacement as they have surpassed their operational life. Hence, it is important to replace such valves for improved performance and better worker safety. Thus, the rising concern of people for better sanitation and increasing fresh investments in water supply and sanitation projects creates significant opportunities for the providers of valves having applications in the water & wastewater treatment industry.

North America to account for the largest share of the industrial valves market by 2025

North America is a large consumer and a producer of natural gas, and the market in this region is dominated by the US supply and demand dynamics. The US was the world’s largest producer and consumer of natural gas in 2019. This factor, along with the shale gas boom in North America, contributed to the significant growth of the oil & gas industry in the region until 2019. However, right from the beginning of 2020, the entire world has been strongly hit by the COVID-19 pandemic, a health and an economic crisis. The US is among the most affected countries in the world. The COVID-19 pandemic has plummeted the oil demand drastically. The Energy Information Administration (EIA) reported that the global oil demand was 11.4 million b/d, lower in March 2020 than the annual average in 2019. It further forecasts the demand to be 17.1 million b/d, lower in April 2020. For the year, the EIA estimates that the demand will be 95.5 million b/d (5.2% lower than that in 2019). This is anticipated to be the largest drop since the EIA began keeping records. This drop in demand is likely to have an adverse impact on the growth of the industrial valves market in 2020.

A few of the key players in the industrial valves market are Emerson (US), Cameron – Schlumberger (US), Flowserve (US), IMI Plc. (UK), Metso (Europe), Spirax Sarco (UK), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (UK), and BRAY International (US).

Don’t miss out on business opportunities in Industrial Valves Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Geotechnical Instrumentation and Monitoring Market with Covid-19 Impact Analysis by Offering (Hardware & Software, and Services) - Global Forecast to 2025

 The Geotechnical Instrumentation and Monitoring Market is projected to reach USD 4.5 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025. Major drivers for the growth of the market are significant rise in infrastructure investments across various countries, use of geotechnical instrumentation to prevent failure of geotechnical structures and loss of lives, stringent government regulations to make structures more sustainable and safer, and growing awareness about benefits of GTIM tools. Opportunities in APAC and GCC countries, and investments in oil & gas and major energy projects is creating ample growth opportunities in the market.

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Impact of COVID-19 on GTIM Market:

Globally, the demand for GTIM tools has dropped due to COVID-19 as construction projects are closed due to lockdowns. Additionally, construction projects were put on hold owing to this outbreak. Therefore, the market for geotechnical instrumentation & monitoring is expected to decline in 2020. The manufacturers of components used in hardware are facing several issues related to order accomplishments and the timely delivery of products owing to supply chain disruptions caused by lockdowns imposed in a number of countries. Moreover, there are delays in receiving raw materials from suppliers, primarily located in China and other Southeast Asian countries. These issues are taking a toll on the manufacturers spread across the world.

Moreover, the spread of COVID-19 has led to a sharp contraction in the global demand for components owing to reduced fixed investments, minimal industrial activities, and declined consumption. Each component of the global aggregate demand including consumption, capital investments, and exports, has fallen and continues to fall as containment measures have caused a complete halt of manufacturing activities. A few countries, especially in Europe and APAC, are about to lift their lockdown, and projects are expected to resume.

Service segment of the GTIM market projected to grow at a higher CAGR during the forecast period.

The service segment is expected to continue to hold a larger share of the geotechnical instrumentation & monitoring market during the forecast period. Across the world, maximum companies in the GTIM market are dedicated to offering instrumentation and monitoring services, and the manufacturers of hardware and software solutions required for GTIM engineering are comparatively fewer. Therefore, the services segment is expected to continue to lead the GTIM market during the forecast period.

Among all structures, the tunnels and bridges segment projected to hold the largest share of the GTIM market during the forecast period.

In 2020, tunnels and bridges collectively held the largest size of the GTIM market, and a similar trend is expected to continue during the forecast period. The major factor contributing to the leading position of tunnels and bridges is the growing number of projects with respect to the construction of tunnels across the world. For instance, the Follo Line tunnel project in Norway, Europe, is likely to be completed by 2021, and it will connect the Norwegian capital of Oslo with its southern suburb of Ski.

Wirelss Networking technology segment to grow at a higher CAGR during the forecast period.

Wireless segment is expected to grow at a higher rate. The major advantages of geotechnical instruments are durability, economical pricing, and precise sensing. Wireless instruments have the great potential to expand their use in geotechnical engineering. The key idea behind the efficient performance of wireless instruments in critical structures, such as mines, is to connect all monitoring instruments to wireless systems and technologies that enable data to be collected and processed centrally.

The GTIM market in Americas projected to hold the largest share in 2025.

The GTIM market in the Americas is expected to grow at a significant rate owing to an increase in investments in infrastructural projects in the region. For instance, from 2009 to 2017, the US federal government and local government spent about USD 440 billion on infrastructure. In addition, countries such as the US and Canada are increasingly adopting geotechnical instrumentation and monitoring tools to ensure the safety and security of structures and their people.

Additionally, in the Americas, both government and private sectors are aggressively involved in large-scale infrastructure projects. For example, the Nevada Department of Transportation (NDOT) has constructed a 4-lane concrete interstate freeway between Silverline Road and Foothill Drive in Henderson. The government spent USD 83 million in this project. This is one of the many projects in the region. Such new infrastructure projects would upsurge the demand for geotechnical instrumentation and monitoring tools. Therefore, the rapid development of new infrastructures in the Americas is one of the major driving factors for the market growth in this region.

Fugro (Netherlands), Keller Group plc. (UK), Nova Metrix LLC (US), Geocomp Corporation (US), GEOKON (US), Sisgeo S.r.l (Italy), COWI A/S (Denmark), RST Instruments Ltd. (Canada), James Fisher and Sons plc (UK), and Deep Excavation LLC (US)are a few major players in the GTIM market.

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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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Power Electronics Market with COVID-19 Impact Analysis by Device Type (Power Discrete, Power Module and Power ICs - Global Forecast to 2025

 The global power electronics market size is projected to grow from USD 35.1 billion in 2020 to USD 44.2 billion by 2025, at a CAGR of 4.7%. The increasing focus on the use of renewable power sources across the globe, growing adoption of power electronics in the manufacturing of electric vehicles, and increasing use of power electronics in consumer electronics are the major factors driving the growth of the market. The increasing use of GaN & SiC products in various applications and growing industrialization in developing economies are projected to create lucrative opportunities for the players operating in the market during the forecast period. Implementation of several regulations by the governments of various countries to deal with the COVID-19 pandemic (such as the complete shutdown of manufacturing facilities; limited production with limited manpower) and decrease in demand for end-products are expected to affect the growth of the power electronics market in 2020.

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Power ICs to hold the largest share of device types across the power electronics market

Power IC is used for the functioning of power management in various applications. Power IC is used in various devices, such as smartphones, tablets, smartwatches, TVs, and SSD, for power management applications. It combines multiple functions into a single device to reduce the component numbers and board space needed to easily and cost-effectively manage power in devices for the Internet of Things (IoT), consumer, medical, industrial, automotive, and many other applications. Increasing needs for power management in consumer devices to drive the growth of the market.

The market for SiC and GaN devices to grow at high CAGRs

Increasing interests of OEMs in adopting SiC devices for electric and hybrid vehicle manufacturing is expected to create growth opportunities for the power electronics market during the forecast period. They are also used in EV inverters, where they increase the efficiency of the system by up to 80% and help in reducing the global carbon footprint. SiC components exhibit increased reliability, greater efficiency, high operating temperature, reduced size, and high voltage capabilities, which make it the preferred material for various applications such as renewable energy generation mainly photovoltaics; electrified automobile systems including EV/HEV, trains, and buses; charging infrastructure; UPS; and motor drives

GaN offers similar performance as that of SiC but at a lower cost, as GaN devices can be fabricated on the silicon substrate, which is a cost-effective solution. GaN is used in applications such as PV, EV, UPS, wireless charging, and power supply. The rapid adoption of wireless chargers for consumer devices is expected to boost the growth of the gallium nitride-based semiconductor devices segment.

Automotive & Transportation vertical to grow at highest CAGR during the forecast period

The advent of electric and hybrid vehicle production has enhanced the demand for power electronic products to a great extent. Also, increasing concerns regarding environmental pollution and sustainable growth have increased government support in several countries to boost the production of electric vehicles, supported by incentives. This is expected to develop and expand the charging infrastructure and provide opportunities for the market. China is one of the largest markets for electric vehicles, and it has scaled up the production by implementing new policies and subsidies aimed at automobiles, particularly new energy vehicles. APAC to hold the highest market share for the power electronics market during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period

APAC has been the fastest-growing region in terms of consumption of power electronic products and solutions compared to other regions in the world, owing to the increasing adoption of power electronics in consumer, industrial and automotive applications across various countries such as China, Japan, India, and South Korea, among others. China is the world’s largest producer and end user of consumer electronics devices, including smartphones tablets and home appliances. The increasing need for power management in consumer devices fuels the demand for power electronics in the consumer electronics vertical. Other important verticals include industrial and automotive. Increasing industrial automation, adoption of robotics, and the urgent need for efficient use of power for various industrial applications is further driving the growth of the market for industrial vertical. Renewable energy generation is one of the key revenue pockets for the power electronics market in APAC. Governments in multiple countries of the region are motivating the shift towards renewable energy generation, mainly photovoltaics or solar, in the form of various offers and subsidies. Fast-track adoption of electric vehicles across the region is also a prime factor driving the power electronics market growth. Various countries in APAC have set targets to increase the adoption of electric vehicles to reduce pollution levels

Major players in the power electronics market are Infineon Technologies (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Vishay Intertechnology (US), Fuji Electric (Japan), NXP Semiconductors (Netherlands), Renesas Electronics (Japan), Texas Instruments (US), Toshiba (Japan), ABB (Switzerland), GaN Systems (Canada), Littelfuse (US), Maxim Integrated (US), Microchip (US), ROHM (Japan), SEMIKRON (Germany), Transphorm (US), UnitedSiC (US), and Wolfspeed, A Cree Company (US).

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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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441