Battery Energy Storage System Market in APAC is projected to grow at the highest CAGR

 According to the new market research report "Battery Energy Storage System Market with COVID-19 Impact by Element (Battery, Others), Battery Type (Lithium-Ion, Flow Batteries), Connection Type (On-Grid And Off-Grid), Ownership, Energy Capacity, Application, and Geography - Global Forecast to 2025", the battery energy storage system market is projected to grow from USD 2.9 billion in 2020 to USD 12.1 billion by 2025; it is expected to grow at a CAGR of 32.8% from 2020 to 2025. The growth of this market is expected to be driven by the prevailing trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution, surging requirement of continuous power supply from critical infrastructures in wake of COVID-19, growing adoption of lithium-ion batteries in renewable energy sector owing to their low costs and improved performance, and increasing demand for grid energy storage systems. These factors have helped the battery energy storage system market gain traction in applications, such as utilities, residential, and commercial.

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The battery energy storage system market in APAC is projected to grow at the highest CAGR during the forecast period.

APAC held the largest share of the battery energy storage system market in 2019. APAC is a hub for the battery energy storage system industry. APAC is expected to witness plans for electrification in remote areas, which are majorly off-grid in several countries. The use of residential energy storage technology will enable to increase access to electricity for these remote and island communities in the region. Energy storage investments are expected to increase substantially within the region as the governments in growing economies are making new policies to improve the reliability and quality of the power distribution facilities for the residential customers.

However, the market in Asia Pacific is expected to witness a sharp decline during the forecast period due to the sudden outbreak of the COVID-19 pandemic. The key components of battery energy storage systems are mainly manufactured in Asia Pacific. The COVID-19 situation has exposed the overdependency on the region for key raw materials, especially China. The business of the energy storage system manufacturers in the US, Germany, and Australia has been adversely affected by the shutdown of operations in China and other Asia Pacific countries.

Besides APAC, North America holds a significant market share. The growth of the North American market is depended on the increasing demand for renewable energy storage systems in the residential, non-residential, and utility sectors. In 2019, the US accounted for about 0.9 GW of battery energy storage system installed. Companies such as Tesla, ABB, General Electric, and Honeywell are the key players in the region, which are focusing on installing and providing battery energy storage systems. There is a pipeline of giant lithium-ion projects scheduled for completion by 2021 in the US.

Lithium-ion battery type segment held the largest share of battery energy storage system market in 2019

The battery energy storage system industry, based on battery type, is led by the lithium-ion battery segment (in terms of size). The lithium-ion battery exhibits high energy and power density, which leads to low standby losses and high life expectancy. Due to these characteristics, lithium-ion batteries are likely to account for a major share of the battery energy storage system market by 2025. The lithium-ion-based battery energy storage systems are used in the utility application to address the demand during peak time as these systems offer high response time and can store excess energy. The COVID-19 pandemic has impacted the supply of lithium-ion batteries and raw materials from China from the start of January 2020. Major battery manufacturers, including General Electric (US), Panasonic (Japan), and Samsung SDI (South Korea), have shifted their focus on making healthcare equipment such as masks and sanitizers to combat the spread of COVID-19.

The market for battery element segment led the battery energy storage system market in 2019

The battery elements used in the battery energy storage system are in the form of modules and racks. The battery element alone constitutes 60% of the total battery energy storage system. It is the major element, where the functioning is regularized by hardware and software, which increase its efficiency. Majorly used battery types in battery energy storage systems are lithium-ion and lead-acid batteries.

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APAC to hold the largest share of Industrial Sensors Market

 According to a research report "Industrial Sensors Market with Covid-19 impact by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Flow Sensor, and Humidity & Moisture Sensor), Type, End-user Industry and Region - Global Forecast to 2026" published by MarketsandMarkets, the global Industrial sensors market is expected to grow from USD 20.6 billion in 2021 to USD 31.9 billion by 2026; it is expected to grow at a CAGR of 9.1% during 2021–2026. Key factors fueling this markets growth include rising adoption of Industrial 4.0 and IIoT in manufacturing; surging demand for smart sensor-enabled wearable devices; and technological advancements in industrial sensor. Predictive maintenance to offer lucrative opportunities to market players; and increasing demand from automobile manufacturers to deliver improved safety and comfort for smart sensors create a strong demand for industrial sensors for efficient industrial operations in the midst of COVID-19.

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Level sensors market to dominate in 2020

The market for level sensors accounted for the largest size in 2020. A level sensor is used to detect and measure the level of liquids, bulk solids, and other fluids. The level measurement is either continuous or in the form of point values. The need for level sensor arises due to various factors, such as the need for accuracy, appearance, response rate; ease of calibration of instruments; size of the instrument; monitoring and/or controlling of continuous or point level.

Contact type to dominate Industrial Sensors market, in 2020

The market for contact type sensors is estimated to account for a larger share of the overall Industrial Sensors market, in 2020. Contact level sensors involve physical contact between the device (comprising contact type industrial sensor) and media. The technologies used in contact type level sensors are magnetoresistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. Some of the most common types of contact type sensors are temperature sensors, pressure sensors, force sensors, flow sensors, etc.

APAC to hold the largest share of Industrial Sensors market in 2020

In terms of value, APAC led the Industrial Sensors market in 2020, 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 2026. 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.

Key players in the industrial sensors market are Rockwell Automation (US), Honeywell International (US), Texas Instruments (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Siemens, incorporated (Germany), Amphenol Corporation (US), Dwyer Instruments (US), and Bosch Sensortec (Germany). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, and collaborations to strengthen their position 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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Vacuum Valve Market: High vacuum pressure range segment is projected to grow at the highest CAGR

 According to a research report "Vacuum Valve Market with COVID-19 Impact Analysis by Type (Pressure Control Valves, Isolation Valves, Transfer Valves), Pressure Range, Industry (Semiconductor, Flat-panel Display Manufacturing, Thin-film Coating), and Geography - Global Forecast to 2026" published by MarketsandMarkets, the global vacuum valve market is projected to reach USD 1.8 billion by 2026 from an estimated USD 1.2 billion in 2021, at a CAGR of 8.5% from 2021 to 2026.

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Increased production of advanced semiconductor products and flat-panel displays for consumer electronics coupled with the adoption of AI and deployment of 5G cellular networks are among the factors driving the growth of the vacuum valve market.

The vacuum valve market is projected to grow at a CAGR of 8.5% from 2021 to 2026

The global vacuum valve market is projected to reach USD 1.8 billion by 2026 from an estimated USD 1.2 billion in 2021, at a CAGR of 8.5% from 2021 to 2026. The growth of the market is mainly driven by the increasing demand for high-end semiconductor, production of which involves vacuum-based manufacturing processes. Semiconductor manufacturing is a system-critical industry, and the demand for high-precision semiconductors is increasing. Manufacturing such semiconductors requires different fabrication processes in vacuum. This, in turn, drives the demand for vacuum valves.

In 2020, isolation valves held the major share of the vacuum valve market

In 2020, isolation valves held the major share of the vacuum valve market. The growth can be attributed to the rising demand for high-quality isolation valves in analytical instruments manufacturing, food & beverages, chemicals, and R&D industries to mitigate particle generation and outgassing drives the demand for isolation valves at present, and a similar trend is likely to be observed during the forecast period. The pharmaceuticals industry is also expected to create growth opportunities considering the positive impact of COVID-19 on the industry, as isolation valves are used in applications such as freeze-drying and vacuum sterilization.

The high vacuum pressure range segment is projected to grow at the highest CAGR from 2021 to 2026

The high vacuum pressure range segment of vacuum valve market is expected to grow at the highest CAGR during the forecast period. Vacuum valves with high vacuum pressure range feature a low operating cost and extended maintenance cycle. Industries witnessing significant growth, such as semiconductors, flat-panel display manufacturing, lightning, and solar, largely drive the demand for high-vacuum valves, as these valves find applications in sub-fab systems, thin-film coatings, display dry etching, solar thin film deposition, and lightning thin film deposition.

Semiconductor held the major share of the vacuum valve market in 2020

Semiconductor held the major share of the vacuum valve market in 2020. Technological advancements in computers, smartphones, medical equipment, and data centers, which form an integral parts of several industries, are dependent on semiconductors. Semiconductor manufacturing is a system-critical industry, and the demand for high-precision semiconductors is increasing. Manufacturing of such semiconductors includes different fabrication processes under vacuum. This, in turn, drives the demand for vacuum valves.

APAC is projected to grow at the highest CAGR from 2021 to 2026

APAC is projected to grow at the highest CAGR from 2021 to 2026. APAC is the leading region for global semiconductor and flat-panel display production, with China, Taiwan, Japan, and South Korea at the forefront. The increase in high-volume manufacturing of semiconductors creates a demand for vacuum valves to achieve the purest vacuum required for different processes. The vacuum valve market in this region is also expected to grow at the highest CAGR during the forecast period driven by the anticipated growth in the production of semiconductors and displays for artificial intelligence, self-driving cars, smart homes, wearable devices, and smart devices.

VAT Group AG (Switzerland), MKS Instruments (US), CKD Corporation (Japan), V-TEX Corporation (Japan), ULVAC, Inc. (Japan), SMC Corporation (Japan), HVA LLC (US), Kitz SCT Corporation (Japan), Pfeiffer Vacuum (Germany), and Agilent Technologies (US); are some of the key players in the vacuum valve 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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Silicon-based power electronics to dominate power electronics market during the forecast period

 The report "Power Electronics Market with COVID-19 Impact Analysis by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace), and Geography - Global Forecast to 2026", is projected to grow from USD 37.4 billion in 2021 to USD 46.3 billion by 2026; it is expected to grow at a CAGR of 4.4% during the forecast period. Owing to COVID-19, the power electronics market faced some headwinds for 2020–2021. The use of SiC and GaN has resulted in improvements in the existing semiconductor technologies, such as MOSFETs and IGBTs. Power electronics-based power converters continue to be used in renewable energy systems, which mainly include wind and solar energy systems.

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Power IC segment to account for the largest share of the power electronics market in 2021

Low power ICs offer high-efficiency and a compact form factor needed for compact applications such as wearables, hearables, sensors, IoT devices, and a wide range of portable devices, such as mobile phones and other portable electronics. Power ICs are also used for DC-to-DC conversion, battery charging, and voltage scaling that have several uses across various industries. Hence, the market for power ICs is expected to hold the largest share of the market throughout the forecast period.

Silicon-based power electronics to dominate power electronics market during the forecast period

Currently, silicon serves as the substrate of choice for a large majority of semiconductor wafers. Silicon-based power electronics are also suitable for low-power applications and applications that do not require a wide bandgap. As silicon is a widely available material used to manufacture a large number of power electronics, it has the highest market share.

Consumer electronics vertical to register the highest share for power electronics market in 2021

Since the introduction of transistors, the power electronics market has been primarily driven by consumer technology. Therefore, the consumer electronics segment is expected to have the largest market share during the forecast period. The growing use of consumer electronic devices, such as smartphones, tablets, and smart wearables, especially in developing countries, is expected to drive the market for power electronics. The increasing adoption of power electronics in home appliances is also expected to contribute to the market size of the consumer electronics segment. China- and South Korea-based OEMs such as Oppo, Xiaomi, Vivo, Meizu, Samsung, and Huawei are adopting GaN-based power electronics for high power inbox chargers for phones as well as accessory fast chargers.

The globally integrated automotive industry is projected to experience the largest impact during the forecast period. Factory closures, supply chain disruptions, and the lack of buyer confidence have negatively impacted the demand for power electronics in the automotive segment. The consumer electronics industry has also been affected as a result of the slowdown in electronics production resulting from the decline in the automotive industry.

Market in APAC estimated to have the largest share during the forecast period

APAC is estimated to lead the power electronics market and register the highest CAGR during the forecast period. The market’s growth in APAC is attributed to the large presence of consumer electronics, ICT, industrial, and automotive verticals across China, Japan, and South Korea. The increasing need for power generation and government initiatives in various countries to promote renewable energy infrastructure are also driving the overall market in APAC. The increasing population in developing countries, such as China and India, leading to the increased deployment of communication infrastructure, is expected to boost the market growth for power electronics. The presence of several well-established power electronics players, such as Renesas Electronics, Mitsubishi Electric, Fuji Electric, ROHM, and Toshiba, contributes to the regional market’s growth. Emerging Chinese players, such as BYD, Huawei, CRRC, and Sungrow, are helping China in strengthening its domestic market for power electronics. These factors are expected to contribute to the growth of the power electronics market in APAC.

Major vendors in the power electronics market include 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), Euclid Techlabs (US), GeneSiC (US), EPC (US), Analog Devices (US), and Hitachi (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.

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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Thermoelectric Modules Market for automotive application to grow at highest CAGR during forecast period

 The report "Thermoelectric Modules Market with COVID-19 Impact Analysis, By Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application, and Region - Global Forecast to 2026", is projected to grow from USD 593 million in 2021 to USD 872 million by 2026; it is expected to grow at a CAGR of 8.0% during the forecast period. Owing to COVID-19, the thermoelectric modules market is estimated to face headwinds for 2020–2021. The growth of the thermoelectric modules market is driven by factors such as increasing demand for electric and luxury vehicles and the growing deployment of 5G connectivity. The new high-speed 5G telecommunication standard presents thermal challenges for critical components such as optical transceivers. Optical transceivers contain a laser diode that needs to be kept below 70°C to ensure no loss of data transmission wherein TEMs need to be deployed. Hence, with the increasing deployment of 5G equipment, there will be an increasing demand for TEMs in telecommunications. TEMs are expected to be used in future electric vehicles. TEMs are used in electric vehicles to stabilize the temperature of a car’s battery-operated system, especially for colder climates where battery efficiency can be reduced by up to 40%.

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Market for automotive application to grow at highest CAGR during forecast period

The market for thermoelectric modules used in automotive applications is expected to grow at the highest CAGR during the forecast period. With the fast growth of electric vehicles in the market, thermoelectric modules are being deployed for the cooling and heating of batteries in electric and hybrid vehicles as they can offer a highly responsive temperature control system. Thermoelectric modules are suitable for heating batteries in electric cars to overcome the poor performance of batteries in cold weather conditions. Other uses of these modules in automotive applications include cooling laser diodes in head-up displays, cool cup holders and glove boxes in car cabins, cooling sensor devices such as LIDAR in autonomous vehicles, and cooling laser diodes in laser headlights. Hence, with the rise in vehicles equipped with convenience features and the high growth potential of electric and autonomous vehicles, the market for thermoelectric modules for automotive applications is expected to witness the fastest growth during the forecast period.

Bulk thermoelectric modules segment to dominate thermoelectric modules market during forecast period

Bulk thermoelectric modules accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Bulk thermoelectric modules are suitable for a wide variety of applications and have no design constraints compared to micro or thin-film thermoelectric modules. These modules can be configured for different power draw and cooling capabilities based on their design. They are also less complex to design, and manufacture compared to smaller modules. Bulk thermoelectric modules are widely used to make related components such as thermoelectric generators (TEGs) and heat pumps. TEGs are used in power plants to convert waste heat into additional electrical power. They are prevalent in industrial processes and heating as TEGs have long service-free lifetimes compared to other conventional generators.

Consumer Electronics application to register highest share for thermoelectric modules market in 2021

Thermoelectric modules used in consumer electronics accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Consumer electronics manufacturers must constantly innovate and improve designs to create smaller, thinner, lighter, and more reliable products that meet customer demands. Due to fast-changing consumer preferences, thermoelectric cooling solutions offer a competitive advantage by enabling OEMs to develop desirable products and bring them faster to the market. Beverage dispensers including coffee and juice/milk machines require a thermoelectric module that delivers efficient performance, low operating noise, and low maintenance requirements. Water purification systems are another application area, which requires thermoelectric coolers for both cooling and heating water. Thermoelectric solutions are also expected to be featured in consumer wearables in the future. Hence, consumer electronics holds the largest market for thermoelectric modules.

Market in APAC estimated to have largest share during forecast period

APAC has emerged as a global focal point for large investments and business expansion opportunities. The region represents the fastest-growing market worldwide for thermoelectric modules. The increased demand for waste heat recovery, consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market in the region. APAC has a large consumer electronics industry consisting of countries such as China, Japan, and South Korea, which is the largest manufacturer and end user of consumer devices. South Korea is an important country for manufacturing portable consumer devices while China is the largest exporter of consumer refrigeration devices. Hence, for consumer electronics, the market in APAC is expected to continue to grow as markets in North America and Europe continue to stagnate over time.

North America is the most adversely affected region by the pandemic. Hesitant consumer spending on refrigerator and freezer replacements will drive the demand down for thermoelectric modules for consumer electronics. A decrease in disposable personal income is driving consumer reluctance to replace old appliances as a result of lower spending power in the US and Canada. The North American automotive market witnessed a sharp decline in 2020, resulting in fewer vehicle sales despite the introduction of new vehicle models by major automobile manufacturers. Many existing and potential vehicle buyers in North America are deferring their purchases at present. The commercial aerospace market in North America has also been severely affected, particularly in the US. The purchase of civilian aircraft production in 2020 has declined to around half of that of 2019, which, in turn, has reduced the demand for thermoelectric modules in aerospace applications.

Major vendors in the thermoelectric modules market include Ferrotec (US), II-VI Incorporated (US), KELK (Japan), Laird Thermal Systems (US), Guangdong Fuxin Technology (China), TE Technology (US), Phononic (US), INHECO Industrial Heating & Cooling (Germany), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), Z-Max (Japan), Kyocera Corporation (Japan), Align Sourcing (US), HiTECH Technologies (US), Hi-Z Technology (US), Merit Technology Group (China), KJLP ELECTRONICS (China), P&N Technology (China), Thermonamic Electronics (China), Hui Mao (China), Wellen Technology (China), and Xiamen HIcool Electronics (China).

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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.

Contact:
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USA : 1-888-600-6441

Communication application to hold largest share of UWB market in 2025

 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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UWB market for outdoor positioning systems is fastest-growing market

UWB technology is currently being employed for limited outdoor positioning applications because of the limited wireless communication range and premium pricing of UWB chips.  UWB technology has the advantage of low power consumption; hence, it is increasingly being used in portable devices that are adopted for many outdoor communications applications, radar imaging, medical imaging, asset tracking, surveillance, vehicular radar, and intelligent transportation.  UWB is also used in outdoor positioning systems, together with GPS.

Communication application to hold largest share of UWB market in 2025

UWB wireless technology offers significant advantages in communication applications owing to its narrow pulses and high localization precision. UWB communications systems are receiving significant attention due to their high data rates and low power consumption, as well as the ability to reduce interference. UWB technology is also used as a communication link in the ad-hoc sensor network. There is a sudden rise in communication applications for UWB as various companies are now using this technology in smartphones for mobile tracking services and better connectivity. Also, UWB antennas are used for wireless communication as they reduce the complexity and fabrication cost when high data rate transition, covering a larger area, is required.

Automotive and transportation would be fastest-growing vertical in UWB market during forecast period

The automotive and transportation industry has witnessed arrays of new and emerging applications for UWB technology. Since the past few years, wireless technology is majorly used in automobiles for the radio reception and navigation purposes. However, recently, automotive applications such as vehicle-to-vehicle and vehicle-to-infrastructure communication gained significant consideration from automobile manufacturers across the world. UWB location tracking technology makes the human–machine interface in automobiles easier and better. It results in novel comfort applications such as smart car access, driver authentication, and personalized user settings, such as seat positioning or climate control. UWB is a very promising technology for public transport vehicles. UWB technology is also used in train control systems where narrow radiofrequency pulses are transmitted to ensure wireless communication between the train and small devices installed on the wayside, as well as to control bus operations.  

North America to hold largest share of UWB market in 2025

Earlier, UWB was not widely adopted in North America owing to the cost-effectiveness of other substitute wireless technologies, such as faster versions of Wi-Fi, and low-power Bluetooth. UWB technology has been widely deployed in the communications and RTLS systems. Recent advancements in positioning accuracy of impulse radio-based UWB technology and falling average selling prices (ASP) of UWB chips are expected to drive the UWB market in North America during the forecast period.

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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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.
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USA : 1-888-600-6441

Industrial Sensors Market estimated to reach $31.9 billion by 2026

 According to a research report "Industrial Sensors Market with Covid-19 impact by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Flow Sensor, and Humidity & Moisture Sensor), Type, End-user Industry and Region - Global Forecast to 2026" published by MarketsandMarkets, the global Industrial sensors market is expected to grow from USD 20.6 billion in 2021 to USD 31.9 billion by 2026; it is expected to grow at a CAGR of 9.1% during 2021–2026. Key factors fueling this markets growth include rising adoption of Industrial 4.0 and IIoT in manufacturing; surging demand for smart sensor-enabled wearable devices; and technological advancements in industrial sensor. Predictive maintenance to offer lucrative opportunities to market players; and increasing demand from automobile manufacturers to deliver improved safety and comfort for smart sensors create a strong demand for industrial sensors for efficient industrial operations in the midst of COVID-19.

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Level sensors market to dominate in 2020

The market for level sensors accounted for the largest size in 2020. A level sensor is used to detect and measure the level of liquids, bulk solids, and other fluids. The level measurement is either continuous or in the form of point values. The need for level sensor arises due to various factors, such as the need for accuracy, appearance, response rate; ease of calibration of instruments; size of the instrument; monitoring and/or controlling of continuous or point level.

Contact type to dominate Industrial Sensors market, in 2020

The market for contact type sensors is estimated to account for a larger share of the overall Industrial Sensors market, in 2020. Contact level sensors involve physical contact between the device (comprising contact type industrial sensor) and media. The technologies used in contact type level sensors are magnetoresistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. Some of the most common types of contact type sensors are temperature sensors, pressure sensors, force sensors, flow sensors, etc.

APAC to hold the largest share of Industrial Sensors market in 2020

In terms of value, APAC led the Industrial Sensors market in 2020, 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 2026. 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.

Key players in the industrial sensors market are Rockwell Automation (US), Honeywell International (US), Texas Instruments (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Siemens, incorporated (Germany), Amphenol Corporation (US), Dwyer Instruments (US), and Bosch Sensortec (Germany). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, and collaborations to strengthen their position in the 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.

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

Rising demand for consumer electronic devices Driving Growth of Flexible Electronics & Circuit Market

 The report "Flexible Electronics & Circuit Market with COVID-19 Impact Analysis by Structure Type (Single Sided Flex Circuit, Multilayer Flex Circuit), Application (Displays, Printed Sensors), Vertical (Consumer Electronics), and Geography - Global Forecast to 2026", size is projected to reach USD 48.5 billion by 2026 from an estimated USD 31.9 billion in 2021, at a CAGR of 8.8% from 2021 to 2026. The rising demand for consumer electronic devices is among the factors driving the growth of the flexible electronics & circuit  market.

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Driver: Rising demand for consumer electronic devices

Flexible electronics are cost effective, durable, and reliable, and widely used in smartphones, PCs, TVs, tablets, wearables, and other consumer electronic devices. Flexible displays are integrated in such devices to save on space, and reduce thickness and weight. The two major types of displays used are flexible organic light-emitting diode (OLED), and flexible organic liquid crystal display (OLCD). The demand for flexible electronics is growing with the increasing demand for consumer electronic devices. Although there has been a dip in the shipment of smartphones due to the COVID-19 pandemic, the smartphone market is expected to revive soon.

The growing penetration of consumer electronic devices across sectors also fuels growth in the flexible electronics & circuit market.

Restraint: High investment cost

When it comes to new technologies cost reduction is often a strong driver of R&D efforts. However, the cost of new materials and equipment for flexible electronics research is very high. Manufacturers thus need a huge focus on R&D to create value beyond cost reduction, such as thinner and more lightweight, robust and flexible products. Decisions regarding investments in certain technologies will be ruled by their material properties. The development of new technologies also needs precision machinery and trained personnel, adding to the overall costs. The high investment involved is thus a restraint for the flexible electronics & circuit market.

By vertical, automotive is projected to grow at highest CAGR during forecast period

The automotive vertical is expected to record the highest CAGR during the forecast period. This growth can be attributed to the deployment of flexible displays (LCD and OLED) and OLED lighting panels in vehicles. The demand for flexible lighting is expected to increase globally among prominent automotive manufacturers such as Ford, General Motors, Nissan, Toyota, BMW, and Audi. The LG and Hyundai collaboration for flexible displays in electric vehicles will also significantly contribute towards market growth.

By region, APAC Flexible electronics & circuit market estimated to grow at highest CAGR throughout the forecast period

APAC held the largest share of the overall flexible electronics market, based on region, in 2020. The growth of the market can be attributed to the presence of leading players from the flexible electronics ecosystem such as Samsung Group, LG Corp., Panasonic Corporation, and Konica Minolta Inc. These players have captured a major share of the flexible electronics market, thereby contributing significantly to the growth of the market in APAC. The flexible electronics market in North America is projected to record the highest CAGR from 2021 to 2026, largely due to the increasing establishment of high-technology industries of flexible electronics for military use. A number of US states that are at the forefront of innovation have established research centers for flexible and printed electronics.

Samsung Group (South Korea), LG Corp. (South Korea), Panasonic Corporation (Japan), The 3M Company (US), Konica Minolta Inc. (Japan), First Solar, Inc. (US), E Ink Holdings (Taiwan), PragmatIC Printing Ltd. (UK), Blue Spark Technologies, Inc. (US), and BrightVolt Technologies (US), are some of the key players in the flexible electronics & circuit market.

Don’t miss out on business opportunities in Flexible Electronics & Circuit 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.

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

Traffic Sensor Market: 2D segment will have the highest growth

 The report "Traffic Sensor Market by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor, Radar Sensor, LiDAR Sensor, Magnetic Sensor, Acoustic Sensor, Thermal Sensor), Technology, Application, and Region - Global Forecast to 2026", is estimated to be valued at USD 566 million in 2021 and reach USD 809 million by 2026; it is anticipated to grow at a CAGR of 7.4% during the forecast period (2021–2026).

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The major factors driving the growth of the traffic sensor market are growing need for real-time information systems, and government initiative to upgrade transport infrastructure. However, several factors, such as Deployment of multi-sensor data fusion technology for effective traffic control, can act as a key challenge in the market during the forecast period.

Lidar sensor segment is projected to witness the highest CAGR for the forecast period

Lidar sensor is expected to grow at a higher CAGR during the forecast period. The market for LiDAR senor has seen the emergence of large number start-ups, with high R&D investments. Such developments are likely to lead to significant technical improvements and cost reductions in solid-state LiDARs.

Automated Tolling (E-Toll) to account for the highest CAGR of Traffic Sensor market during the forecast period

The Automated Tolling (E-Toll) is estimated to grow at the highest CAGR from 2021 to 2026 during the forecast period, as the growth of this segment can be attributed because automated tolling is rapidly becoming the most popular way for commuters to pass through tolls on highways and expressways. It is now a necessity and a daily part of their lives. The working of these systems is very fast, along with an efficient mode for the collection of toll charges at the toll plazas. This saves a lot of time since vehicles passing through the toll plaza need not stop to pay the toll, and the payment is made automatically from the account of the vehicle.

2D segment will have the highest growth in the coming years

2D segment is expected to account for the highest growth of the traffic sensor market by 2026. Despite the numerous benefits of 3D sensor technology for quality traffic monitoring applications, many traffic control authorities continue to rely solely on 2D sensors for quality control processes. While useful in a limited number of scenarios, 2D sensor is limited in its ability to achieve 100% quality control, which is considered a major concern, especially in case of multilane and heavy urban traffic congestions, where near to 100% quality control is a major preference. Due to these reasons, although the 2D sensor will continue to dominate the traffic sensor market.

APAC is attributed to growing at the highest CAGR in Traffic Sensor market during the forecast period (2021-2026)

The traffic sensor market in APAC has been segmented into China, Japan, and Australia, which are the fastest-growing market for traffic sensors. The fastest growth of the APAC traffic sensor market is expected to be driven by the increasing number of mega cities and growing population in developed and developing countries.

Key Market Players

In 2020, the Traffic Sensor market was dominated by EFKON (Austria), Siemens (US), International Road Dynamics (Canada), Kapsch TrafficCom (Austria), and Q-Free ASA (Norway).

Don’t miss out on business opportunities in Traffic 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.

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

Commercial Security System Market: North America to be the largest market

 The report "Commercial Security System Market with COVID-19 Impact Analysis by Hardware (Fire Protection, Video Surveillance, Access Control), Service (System Integration, Remote Monitoring), Software, Vertical, and Geography - Global Forecast to 2026", size is projected to grow USD 223.9 billion in 2021 to USD 342.6 billion by 2026; it is estimated to grow at a CAGR of 8.9% during the forecast period. Rising number of terrorist attacks and organized crimes across the world, growing construction industry, expanding adoption of IP cameras, accelerating implementation of stringent fire protection-related regulations, and rising adoption of IoT-based security systems powered by cloud computing platforms are the major factor propelling the growth of the commercial security system market.

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“Video surveillance hardware is the largest hardware market for commercial security system market during the forecast period”

The growth in safety and security concerns, the rise in crime rates, and the increase in the number of terror attacks are major factors driving the growth of the market for cameras used for video surveillance. The continuous decrease in the prices of cameras has resulted in the increased adoption of surveillance cameras across the world, which, in turn, has created significant demand for storage solutions and monitors. Technological advancements have resulted in highly specialized surveillance cameras that can be programmed to zoom-in scan items such as harmful equipment.

“Video surveillance services market is expected to be the fastest-growing commercial security service segment during the forecast period”

The highest CAGR of video surveillance services are due to a rise in the adoption of Video Surveillance-as-a-Service (VSaaS). The growth in this market is driven by the increasing importance of VSaaS in various application areas due to benefits such as remote access and management. As video feeds are stored in the cloud, customers can access and manage them using a desktop, laptop, or mobile device from any location with an internet connection.

“North America to be the largest market for commercial security system during the forecast period”

North America is one of the early adopters of security technologies such as access control, video surveillance, and fire protection systems. The region is at the forefront of implementing access control systems to improve safety measures and security. Countries such as the US, Canada, and Mexico are increasing their expertise in access control systems to drive innovations in the technology and services of these systems to gain a competitive advantage and increase their shares in the access control system market in the region. Due to the mandatory fire protection and safety regulations in North America, most building structures are fixed with fire protection systems. Several fire protection systems and equipment manufacturers in this region offer different fire protection systems.

Major companies involved in the development and supply of commercial security system are Johnson Controls (Ireland), Hikvision (China), Carrier (US), Honeywell International (US), and Dahua Technology (China).

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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. Curren tly 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

Battery Energy Storage System Market in APAC is projected to grow at the highest CAGR

 According to the new market research report "Battery Energy Storage System Market with COVID-19 Impact by Element (Battery, Others), Battery Type (Lithium-Ion, Flow Batteries), Connection Type (On-Grid And Off-Grid), Ownership, Energy Capacity, Application, and Geography - Global Forecast to 2025", the battery energy storage system market is projected to grow from USD 2.9 billion in 2020 to USD 12.1 billion by 2025; it is expected to grow at a CAGR of 32.8% from 2020 to 2025. The growth of this market is expected to be driven by the prevailing trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution, surging requirement of continuous power supply from critical infrastructures in wake of COVID-19, growing adoption of lithium-ion batteries in renewable energy sector owing to their low costs and improved performance, and increasing demand for grid energy storage systems. These factors have helped the battery energy storage system market gain traction in applications, such as utilities, residential, and commercial.

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Lithium-ion battery type segment held the largest share of battery energy storage system market in 2019

The battery energy storage system industry, based on battery type, is led by the lithium-ion battery segment (in terms of size). The lithium-ion battery exhibits high energy and power density, which leads to low standby losses and high life expectancy. Due to these characteristics, lithium-ion batteries are likely to account for a major share of the battery energy storage system market by 2025. The lithium-ion-based battery energy storage systems are used in the utility application to address the demand during peak time as these systems offer high response time and can store excess energy. The COVID-19 pandemic has impacted the supply of lithium-ion batteries and raw materials from China from the start of January 2020. Major battery manufacturers, including General Electric (US), Panasonic (Japan), and Samsung SDI (South Korea), have shifted their focus on making healthcare equipment such as masks and sanitizers to combat the spread of COVID-19.

The market for battery element segment led the battery energy storage system market in 2019

The battery elements used in the battery energy storage system are in the form of modules and racks. The battery element alone constitutes 60% of the total battery energy storage system. It is the major element, where the functioning is regularized by hardware and software, which increase its efficiency. Majorly used battery types in battery energy storage systems are lithium-ion and lead-acid batteries.

APAC accounts for the largest market size during the forecast period

APAC held the largest battery energy storage system market share in 2019, followed by North America and Europe. The market in APAC mainly comprises developing economies, such as China and India, which have tremendous potential for installation of energy storage projects due to increasing renewable energy integration. APAC is expected to witness plans for electrification in remote areas, which are majorly off-grid in several countries. The use of residential energy storage technology will enable to increase access to electricity for these remote and island communities in the region. The battery energy storage system market in APAC is highly competitive with the presence of established players. These players are continually upgrading their product portfolio with the launch of technologically advanced energy storage products.

Some of the major battery energy storage system manufacturers based in Asia Pacific are Samsung SDI (South Korea), LG Chem (South Korea), Hitachi (Japan), Panasonic (Japan), and NEC Corporation (Japan).

Don’t miss out on business opportunities in Battery Energy Storage System 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.

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

Increasing manufacturing of hybrid and electric cars creating more opportunities for Current Sensor Market

 The report "Current Sensor Market with COVID-19 Impact Analysis by Loop Type (Closed Loop and Open Loop), Technology (Isolated and Non-Isolated Current Sensors), Output Type (Analog and Digital), End-User, and Geography - Global Forecast to 2026", The global current sensor market is expected to grow from USD 2.3 billion in 2021 to USD 3.8 billion by 2026; it is expected to grow at a CAGR of 10.8% during 2021–2026. Key factors fueling this markets growth include growing use of battery-powered systems and increasing focus on renewable energy, high adoption of Hall-effect current sensors, and increasing demand in consumer electronics industry. Deployment of IoT and IIoT with current sensors and increasing manufacturing of hybrid and electric cars create a strong demand for current sensor for efficient industrial operations in the midst of COVID-19.

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Opportunity: Increasing manufacturing of hybrid and electric cars

Hybrid and electric vehicles are gaining traction as they are more digitally connected than conventional vehicles. Also, they reduce the consumption of fossil fuels, such as petrol and diesel, reduce global warming and ecological damage, and offer superior fuel efficiency. Additionally, due to COVID-19, the automotive industry has been witnessing a slowdown in demand for hybrid, electric, and autonomous vehicles. However, their demand is likely to be higher than that of any other vehicle type in the post-COVID-19 period.

Challenge: Need for product differentiation and development of innovative solutions

Current sensors require proper and timely maintenance and replacement to avoid problems related to accuracy, drift, and sensitivity. Currently, in the market, Hall-effect and magnetoresistive (AMR, TMR, and GMR) are among the most widely used sensor technologies. Hall-effect and AMR sensors have been in the market for a long time. Hence, players need to differentiate their products from competitors by innovating products and providing customized magnetic sensor solutions. Companies are trying to innovate their products according to the changing requirements to capture the maximum share of the market. Magnetoinductive and magneto-optical sensors are being used for customized sensor applications.

Based on end user, consumer electronics to witness the highest CAGR in current sensor market during 2021–2026

The current sensor market for consumer electronics segment is expected to grow with the highest CAGR during the forecast period. The consumer electronics segment includes home appliances, smartwatches, tablets, smartphones, etc. Sensors play an important role in improving the performance of a range of consumer electronic devices and creating effective human–machine interfaces. As technologies used in consumer electronics are evolving, smart consumer electronics devices are being manufactured, thereby leading to an improved lifestyle of people. Current sensors are expected to witness high adoption in consumer electronic devices in the coming years.

Current sensor market in APAC to grow at the highest CAGR during the forecast period

The current sensor market in APAC is expected to grow at the highest CAGR during the forecast period attributed to the increased use of these sensors in the automotive, building automation, energy, and manufacturing industries. APAC is one of the important regions for the automotive industry due to increased passenger car manufacturing and sales in various countries such as China, Japan, and South Korea. The growing adoption of isolated current sensors for electric and hybrid vehicles in the automotive industry is driving the growth of the market for current sensors in APAC.

Key players in the market include Asahi Kasei Microdevices (AKM) (Japan), ACEINNA (US), Melexis (Belgium), Allegro MicroSystems (US), TDK Corporation (Japan), LEM International (Switzerland), Infineon Technologies (Germany), Tamura Corp. (Japan), Texas Instruments (US), and Honeywell (US). These players are increasingly undertaking product launches and developments, acquisitions, partnerships, and expansions, to increase their market shares.

Don’t miss out on business opportunities in Current 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.

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

Distributed Fiber Optic Sensor Market: Infrastructure vertical is estimated to be the fastest-growing

 According to a research report "Distributed Fiber Optic Sensor Market with Covid-19 Impact Analysis by Fiber Type (Single-Mode, Multimode), Scattering Process, Operating Principle (OTDR, OFDR), Application (Temperature, Acoustic, Strain), Vertical and Region - Global Forecast to 2026" published by MarketsandMarkets, the global distributed fiber optic sensor market size is expected to grow from USD 0.9 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.7%. Growing adoption of distributed fiber optic sensors in oil and gas and infrastructure and safety and security verticals will drive the demand for this market in the near future and is expected to play a vital role in the growth of the distributed fiber optic sensor market. Rapid digitization and automation to fulfill the rising need for productivity, efficiency and safety in various processes and growing adoption of distributed sensors in applications such as pipeline monitoring, structural health monitoring, border monitoring and control are driving the growth of distributed fiber optic sensor market.

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The market has declined in 2020, mainly due to the impact of COVID-19. The supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, that affected the distributed fiber optic sensor market. Though the market was impacted in 2020, it is expected to fully recover by 2021.

Strain Sensing is estimated as the fastest-growing application type in the said market during the forecast period

The distributed fiber optic sensor market for distributed strain sensors is expected to grow at the highest CAGR during the forecast period. The growth in distributed fiber optic sensors market for the strain sensing application is attributed to their increasing applications in infrastructural developments such as dams and pipelines where strain sensing is essential for ground movement and threat detection and to pinpoint risk-prone locations. Increasing usage of distributed fiber optic sensors for strain sensing applications in oil & gas and infrastructure verticals is also one of the driving factors for the growth of the market for the said application. Rising infrastructure projects globally would provide opportunities for strain sensing applications

Infrastructure vertical is estimated to be the fastest-growing market during the forecast period

The distributed fiber optic sensor market for infrastructure vertical are expected to be the fastest-growing markets during the forecast period. The market for this vertical is expected to grow at the highest pace mainly because of the increasing necessity for structural health monitoring for railway lines, buildings, bridges, buildings, tunnels & pipelines, dams, roads, geotechnical engineering, and historical monuments, among others. Further, fiber optic cables can be engineered and mechanically coupled to structures, like dams and pipelines, where ground movement can be detected and threats in the locations can be pinpointed. This can be done with distributed sensors integrated with optic cables. Rising projects of infrastructure developments mainly in China and in the APAC region provide opportunities for the market

Asia Pacific is expected to grow at the highest rate

The market in APAC is expected to grow at the highest rate during 2021–2026. The global market players are experiencing increased demand for distributed fiber optic sensors from countries such as China, Japan, India and Indonesia. High investments in distributed fiber optic sensors by governments in countries such as China and India is also driving the growth of the said market in APAC. Furthermore, growing urbanization, rising disposable income, replacement needs, strict safety regulations, and technological innovations also help to drive the demand for distributed fiber optic sensors in APAC.

Major players in the distributed fiber optic sensor market include Schlumberger (US), Halliburton (US), Yokogawa Electric (Japan), Weatherford International (Switzerland), Luna Innovations (US), OFS (US.), Bandweaver (US), Omnisens (Switzerland), AP Sensing (Germany) and DarkPulse (US) among others.

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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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Lithium-Ion Battery Market: Which are the major industries of lithium-ion batteries?

 According to the new market research report "Lithium-Ion Battery Market with COVID-19 Impact Analysis, by Type (Li-NMC, LFP, LCO, LTO, LMO, NCA), Capacity, Voltage, Industry (Consumer Electronics, Automotive, Power, Industrial), & Region (North America, Europe, APAC & RoW) - Global Forecast to 2030", The global lithium-ion battery market size is projected to grow from USD 41.1 billion in 2021 to USD 116.6 billion by 2030; it is expected to grow at a CAGR of 12.3% from 2021 to 2030. The growth of the lithium-ion battery market is majorly driven by surging requirement for continuous power supply from critical infrastructures in wake of COVID-19, increasing demand for plug-in vehicles, growing need for battery-operated material-handling equipment in industries due to automation, continued development of smart devices, and growing adoption of lithium-ion batteries in renewable energy sector.

Consumer electronics, power generation, and automotive industries are major adopters of lithium-ion battery.

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10,000–60,000 MAh lithium-ion battery accounted for the larger size of the lithium-ion battery market in 2020.

The 10,000–60,000 MAh segment accounted for the largest market share in 2020. Li-ion batteries with a capacity of more than 10,000 mAh are used for applications requiring high capacity, such as electric vehicles, plug-in hybrid electric vehicles, e-motorcycles, material handling equipment, marine, robots, industrial, telecommunication systems, electronic cash registers, standby power supplies, golf cart vehicles, hybrid trucks, buses, smart grid, aviation industry, automated guided vehicle, yachts, solar backup power, energy storage system (ESS) platforms, military applications, low earth orbit (LEO), medium earth orbit (MEO), and geostationary or geosynchronous orbit (GEO) satellites, and launch vehicles.

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

Automotive segment is expected to hold the largest share in the lithium-ion battery market during the forecast period. Battery-driven vehicles, such as electric vehicles, e-bikes, and automated guided vehicles, are major consumers of lithium-ion batteries. Depending on their source of power and application, EVs are classified into battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). There is increasing competition between battery models installed in EVs owing to the need for operational excellence. Increasing adoption and awareness of EVs supports the growth of the lithium-ion battery market. Automobile original equipment manufacturers (OEM) and players within the mobility industry are among the worst hit by the COVID-19pandemic. Automobile OEMs increasingly rely on just-in-time manufacturing, which is presently affecting their production capabilities and overall exports owing to supply chain disruptions. Automobile manufacturing plants are producing and supplying a few automobiles owing to the global supply chain disruptions resulting from lockdowns. This can impact the growth of the lithium-ion battery market until COVID-19 cases stabilize globally.

APAC is projected to be the largest market for lithium-ion battery from 2021 to 2030.

APAC accounted for the largest share of the lithium-ion battery market in 2020. The leading players contributing to the growth of the market in the region are JAC Motors (China), BYD Co. Ltd. (China), BAIC Group (China), SAIC Motor Corporation Limited (China), Nissan Motor Company Ltd. (Japan), Mitsubishi Motors Corporation (Japan), and Toyota Motor Corp. (Japan), among others. Continuous developments in the consumer electronics and automotive verticals have led to an increase in the application of lithium-ion batteries as they offer various advantages, such as high power capacity, increased safety, and reduced pollution. However, the outbreak of COVID-19 has impacted the manufacturing facilities of all verticals across the world, forcing them to shut down. However, production has resumed in a few facilities in China, thereby initiating the manufacturing of some essentials.

BYD Company (China), LG Chem (South Korea), Contemporary Amperex Technology Co. Ltd. (CATL) (China), Samsung SDI (South Korea), Panasonic Corporation (Japan), BAK Group (China), GS Yuasa Corporation (GS Yuasa) (Japan), Hitachi (Japan), Clarios (Germany), and Toshiba Corporation (Japan), are some of the major players in lithium-ion battery market.

Don’t miss out on business opportunities in Lithium-Ion Battery 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.

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