Battery Energy Storage System Market: Increasing demand for grid energy storage systems owing to ongoing grid modernization

 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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Driver: Increasing demand for grid energy storage systems owing to ongoing grid modernization

Solar and wind energy are the most prominent types of renewable energy that are stored in grids. However, concealing of the sun by clouds or fluctuating wind currents lead to variations in the process of energy generation. Such fluctuations create the requirement of flexible grid systems used to store energy. Battery energy storage systems help grid operators to save electricity when the electricity generated exceeds the electricity demand. The adoption of these systems improves the reliability and flexibility of electricity supply systems with respect to generation, transmission, and distribution of electric power. During transmission and distribution of electricity, battery energy storage systems can handle asset deferral, ensure frequency regulation, carry out harmonic suppression, offer voltage support, and ensure power quality. Electric energy time shifting, baseload leveling and peak shaving, renewable energy time shifting, and renewable capacity firming are other benefits offered by battery energy storage systems for grid-connected solutions. All these factors drive the adoption of these battery energy storage systems, thereby fueling the growth of the market.

Siemens offers SIESTORAGE, an intelligent grid solution capable of overcoming the challenges in power supply in terms of the optimization of grid connections, flexibility of energy for modern grids, and support to large energy consumers. Broad Reach Power (US), an independent power generator, is planning to develop 15 small-scale battery storage plant sites in areas near Houston and Odessa in Texas (US) in 2020 and 2 large systems by 2021. Each site is expected to contain battery systems capable of storing and distributing up to 10 megawatts of power. While a number of parts of the US are facing economic challenges resulting from the spread of the COVID-19, Texas is uniquely poised for continued industrial growth in near future. The small systems developed by the company are expected to provide energy stabilization services, such as mitigating the impact of price spikes and dips that expose generators, utilities, and retail electric providers to uncertainty in the supply-demand matching that occurs in power grids.

The demand for battery energy storage systems goes hand-in-hand with grid modernization efforts, including the transition from traditional systems to new technologies such as smart grids. Batteries help unlock the full potential of smart technologies. In January 2019, a smart grid-based hybrid wind-solar project was initiated in Dubai (UAE) by the Korean Electric Power Corporation (KEPCO). This project is expected to incorporate a 500 kWh lithium-ion battery storage system, equipped with 2,000 IoT-connected sensors and smart meters.

Restraint: High capital expenditure required for installation of battery energy storage systems

Battery energy storage technologies, including lithium-ion batteries, flow batteries, and lead-acid batteries, require increased installation investments owing to high-energy density and improved performance offered by them. Lithium-ion batteries are costly as they offer high energy density, have a low rate of self-discharge, and require less maintenance. However, in future, costs of lithium-ion batteries are expected to decline. These batteries are also used in electric vehicles (EVs) as they are lightweight and compact, as well as have a large capacity.

Costs of battery energy storage systems depend on the type and the number of batteries used in them. They also vary according to the intended application (residential, commercial, and utilities) of these systems. The integration of different batteries (in the form of packs, modules, and racks), inverters, battery management systems (BMS), and wiring in battery energy storage systems results in their increased costs. During the installation of battery energy storage systems, the required capital cost is dependent on the footprint and space requirements (energy and power density) of storage systems; components (batteries, power conversion systems, and BMS) used in them; and facility infrastructures (communications and control, environmental control, and grid interconnection) wherein they are deployed. Moreover, the total operating cost of battery energy storage systems is a combination of a number of factors, including costs of charging batteries, labor associated with their installation; maintenance of plants wherein they are installed; replacement and repair costs of these systems; and costs for their decommissioning and disposal. Thus, the installation of battery energy storage systems in a plant or any required place needs high capital investments that act as a restraint for the growth of the market.

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).

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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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Key Market Players in the Global Lithium-Ion Battery Market

 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.

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Lithium-ion battery market in APAC contributed the largest share in 2020.

Lithium-ion battery market in APAC is expected to grow at the highest CAGR during 2021−2030. China and Japan are the world’s second-and third-largest markets, respectively, for electric vehicles. 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. Several countries in the APAC region are planning off-grid electrification, especially in remote areas. Investments in energy storage systems are expected to increase substantially in the region as governments in developing economies are formulating new policies to improve the reliability and quality of power distribution facilities for the residential customers.

Key Market Players

The lithium-ion battery players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, and acquisitions to strengthen their offerings in the market. 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.

The study includes an in-depth competitive analysis of these key players in the lithium-ion battery market with their company profiles, recent developments, and key market strategies.

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.

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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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Flow Battery Market: Utilities application to hold the largest growth rate

 According to the new research report "Flow Battery Market with COVID-19 Impact, by Type (Redox Flow Battery, Hybrid Flow Battery), Material, Storage (Compact and Large scale), Application (Utilities, Commercial & Industrial, EV Charging Station), and Region - Global Forecast to 2026", the global flow battery market size is expected to grow from USD 214 million in 2021 to USD 489 million by 2026, at a CAGR of 18.0%. The growth of this market is driven mainly by inherent advantages of flow batteries, increasing investments in renewable energy, high demand for flow batteries in utilities, and increase in telecommunication tower installations.

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Hybrid flow battery type to grow at highest CAGR from 2021 to 2026

The adoption of hybrid flow batteries is increasing at a substantial rate attributed to their benefits, such as high energy density, compact size, and low cost. Zinc-bromine, zinc-cerium, and lead-acid are the most prominent types of hybrid flow battery types. The zinc–bromine hybrid battery offers the highest energy density as compared to other flow batteries. In recent years, several research programs have been conducted in several countries to explore the potential of hybrid flow batteries and build more compact and low-cost systems.

Utilities application to hold the largest growth rate of the flow battery market in 2020.

The utilities application dominated the flow battery market in 2020 and is estimated to remain the same during the forecast period. The adoption of flow batteries is increasing in utilities attributed to the growing need for electrification. Besides, the growing use of renewable energy across grids has, in turn, increased the need for efficient, flexible, and long operating life energy storage solutions. A flow battery, with all its attractive features, has become the most preferred energy storage technology for utility-based storage as large-scale utilities require technologies that can cost-effectively store renewable energy for future grid use at any location.

The flow battery market in APAC is expected to grow at the highest CAGR from 2021 to 2026

APAC is expected to hold the largest growth rate of the global flow battery market during the forecast period. APAC has several operational flow battery installations with large power ratings. Australia has the most flow battery projects for utilities, residential, industrial, and commercial applications from various players across the world, whereas China holds the highest capacity of flow batteries installed to date among other countries in the region. The growth of the region is attributed to the increasing demand for flow batteries in major countries such as Japan and Australia. Besides, the growing adoption of energy storage solutions in industrial, utilities, and other applications, rising demand for flow batteries from the grid and microgrid applications in India and China, and increasing number of operational projects with flow battery installations are expected to fuel the growth of the regional market during the forecast period.

Major companies operating in this flow battery market include Sumitomo Electric Industries Ltd. (Japan), UniEnergy Technologies (US), ViZn Energy Systems (US), Primus Power (US), ESS, Inc. (US), Redflow Limited (Australia), and Invinity Energy Systems (UK).

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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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AI in Computer Vision Market: Consumer Electronics is expected to hold the largest share in 2026

 The report "AI in Computer Vision Market With Covid-19 Impact by Component, Machine Learning Models, Function, Application (Industrial, Non-Industrial), End-Use Industry (Security & Surveillance, Consumer Electronics) and Geography - Global Forecast to 2026", is estimated to be valued at USD 15.9 billion in 2021 and reach USD 51.3 billion by 2026; it is anticipated to grow at a CAGR of 26.3% during the forecast period (2021–2026). The major factors driving the growth of AI in computer vision market are growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs and government initiatives to support industrial automation and integration of AI into the edge devices. However, several factors, such as rising security concerns related to cloud-based image processing and analytics can act as a key challenge in the market during the forecast period.

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Software is projected to witness the highest CAGR for the forecast period

Software are expected to hold a major share and is expected to grow at a higher CAGR during the forecast period. Software tools, combined with a suite of computer vision software allow an individual to interface with a camera and a production line and automatically perform image improvement, location analysis, flaw detection, character verification, character recognition, symbol recognition, and several other functions.

Non-industrial to account for the largest share of AI in computer vision market during the forecast period

In the non-industrial market, the growing demand for camera-enabled smartphones at both front and rear ends is driving the market for AI in computer vision, especially in the consumer segment. However, the industrial segment is expected to grow at a higher rate as modern technologies can help in several traffic situation systems, including toll collection, monitoring traffic flows, and identifying violations. 3D machine vision also has a huge potential for growth in non-industrial applications such as security and surveillance, postal and logistics, and intelligent transportation systems (ITS), where image quality, dimension, and orientation play a crucial role. Modern technologies can enhance several transportation systems, including toll collection systems and traffic monitoring systems.

Supervised Learning will have the highest growth in the coming years

Supervised learning is expected to account ~84% share of the overall AI in computer vision market by 2026. The growing adoption of supervised learning in various healthcare applications, especially medical imaging, and the use of different sensors and devices in modern facial recognition algorithms supplement the growth of this segment. Learning models are currently being implemented to develop various AI products and services. Some recent applications of these models are in autonomous vehicles/connected cars, virtual assistants (Apple’s Siri, Microsoft’s Cortana, and Google’s Google Now), expert systems, drones, computer-aided diagnostics, video games, and image recognition systems.

Consumer Electronics is expected to hold the largest share in 2026

There is an increasing demand for AI-enabled computer vision systems in consumer electronics such as smartphones, desktops, and laptops is driving the growth of the AI in computer vision market. Healthcare, however is projected to grow at the highest CAGR during the forecast period as AI-enabled computer vision technology plays a vital role in applications like radiology, medical imaging. Apart from this, increasing participation of various automotive and IT giants to develop autonomous cars is driving the growth of the AI in computer vision market for the automotive industry. In the security & surveillance industry, AI-enabled computer vision systems are increasingly being used to identify threats and people, thus boosting the adoption of AI-enabled computer vision solutions in this industry. Further, advancements in machine vision technology, such as smart cameras and automation, have increased the scope of  AI in computer vision market in the manufacturing industry, which is expected to grow at the second-highest CAGR by 2026.

APAC is attributed to growing at the highest CAGR in AI in computer vision market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the AI in computer vision market. Countries such China, Japan, and South Korea are expected to be the major contributors to the market in APAC. Increased manufacturing operations contribute mainly to the economic development in China, while the rising demand to incorporate Industry 4.0 and advanced manufacturing techniques for increasing automation across various applications in India is contributing to the tremendous growth of AI in computer vision in APAC. North America is expected to hold the largest share of ~40% of the global AI in computer vision market in 2021. The presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), and Facebook (US) is complementing the growth of the regional market. The growing concern about the security of critical infrastructure and sensitive data has increased government intervention in recent years and resulted in the adoption of AI in computer vision in security applications. Europe is likely to hold a share of ~29% of the AI in computer vision market in 2021. Germany and the UK are the major contributors to the AI in computer vision market in this region. The automotive industry in the UK is contributing to the growth of the AI in computer vision market.

Key Market Players

In 2020, the AI in computer vision market was dominated by NVIDIA (US), Intel Corp. (US), Microsoft Corp. (US), IBM Corp. (US) and Qualcomm (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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

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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Temperature Sensor Market: Digital temperature sensors to account for the largest share

 The report "Temperature Sensor Market With COVID-19 Impact by Product Type (Thermocouples, RTDS, Thermistors, Temperature Sensor ICS, Infrared, and Fiber Optic Temperature Sensors), Output, Connectivity, End-User Industry, & Region - Global Forecast to 2028", is estimated to be valued at USD 5.9 billion in 2021 and reach USD 8.0 billion by 2028; it is anticipated to grow at a CAGR of 4.5% during the forecast period (2021–2028).

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The continuous demand for temperature sensors, which are integrated into devices like wearable bands, smartphones, and patient monitoring devices, from industries such as consumer electronics and healthcare is driving the temperature sensor market growth. For the past few years, the demand for reliable, high-performance, and low-cost sensors has been increasing, leading to the development of new technologies like micro and nanotechnology, which provides benefits such as miniaturization, low power consumption, and mass production.  However, high initial cost involved in advanced sensors is expected to restraint market growth.

Wireless temperature sensors are projected to witness the highest CAGR for the forecast period

Wireless temperature sensors are expected to grow at a higher CAGR during the forecast period. Industrial automation and demand for miniaturized consumer devices, such as wearables and IoT-connected devices, across regions, are key factors driving the wireless segment of the temperature sensor market.

Digital temperature sensors to account for the largest share of the market during the forecast period

Temperature sensors with digital outputs have several advantages over sensors with analog outputs and are especially suited for remote applications. Digital temperature sensors find applications in medical and aerospace verticals, test and measurement equipment, and industrial automation.

Contact temperature sensors is estimated to hold a major share of the market

Contact temperature sensors are expected to account for ~86% share of the overall market by 2028. This segment is likely to continue holding a larger market share than the non-contact temperature sensors segment during the forecast period, due to the use of contact temperature sensors for detecting solid, liquid, or gaseous elements covering a wide range of materials. Contact temperature sensors are widely used in the chemicals, consumer electronics, oil & gas, energy & power, and automotive industries, owing to their low cost, wide temperature range, and high accuracy.

Consumer Electronics is expected to hold the largest share in 2028

The consumer electronics segment is projected to register a CAGR of 5.7% during the forecast period. This segment is likely to continue holding the largest market share during the forecast period owing to the growing adoption of temperature sensors in consumer electronics, including smartphones, PCs, laptops, tablets, and other smart home appliances. Lately, several newer devices have also been added under this segment.

APAC is attributed to growing at the highest CAGR in the temperature sensor market during the forecast period (2021-2028)

APAC accounted for the largest share (~46%) of the temperature sensor market in 2020. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor market in APAC. The temperature sensor market in APAC is likely to be driven by the evolving automotive, medical, and industrial manufacturing companies and the rising demand for temperature sensors from overseas markets of North America and Europe. However, the US, Canada, and Mexico are the major contributors to the growth of the temperature sensor market in North America. North America is one of the most technologically advanced markets for temperature sensors owing to the presence of prominent system suppliers as well as large chemicals, oil & gas, healthcare, and food & beverage companies in the region.

Key Market Players

In 2020, the temperature sensor market was dominated by Honeywell International Inc. (US), TE Connectivity Ltd. (Switzerland), Texas Instruments Incorporated (US), Endress+Hauser Management AG (Switzerland), and Siemens AG (Germany).

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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.

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Laser Interferometer Market estimated to be worth $335 million by 2026

 According to a research report "Laser Interferometer Market with COVID-19 Impact Analysis by Interferometer Type (Michelson, Fabry-Perot, Fizeau, and Twyman-Green), Type, Application (Surface Topology, Engineering, and Science), End-User Industry, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the global laser interferometer market size is expected to grow from USD 245 million in 2021 to USD 335 million by 2026, at a CAGR of 6.5%. Laser interferometers are usually used in ultraprecision machining and manufacturing, ultraprecision positioning control, as well as several non-contact optical sensing technologies. Laser interferometers are also extensively used in science and other industries for the measurement of small displacements, refractive index changes, and surface irregularities. Major factors driving the growth of the laser interferometer market are the growing demand for 3D metrology services, focus on quality control, and increasing expenditure on R&D activities. Quality control is an integral part of production processes, as it helps the process run flawlessly without incurring any extra cost. Under quality control and inspection, a laser interferometer is used for measurement, position control, dimensional analysis, and machine calibration, among other functions.

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As a result of the COVID-19 outbreak, businesses worldwide have been impacted by revenue losses and disrupted supply chains as factory shutdowns and quarantine measures have been implemented across the globe, restricting movement and business activities.

Surface topology segment is expected to hold the largest market share during the forecast period

Interferometry is a well-recognized technique for surface topology measurement. Interferometric measurements of a surface shape include relative measurement techniques, in which the shape of a known surface is compared with that of an unknown surface, and the difference is displayed as a series of interference fringes. Surfaces are an important tool to describe and analyze a multitude of phenomena related to the social, economic, natural, and technical sciences. Interferometry is a well-established technique for surface topography measurement. With the rapid development of interferometry technology, Phase Shifting Interferometry (PSI), has become one of the important methods in the modern measurement of optics surface shape. A laser interferometer probe is used to sense and characterize stress waves directly. It is useful in determining complex signals gathered from acoustic emissions due to cracking in metals or crazing of polymers.

Heterodyne segment is estimated to be the dominating market during the forecast period

The heterodyne segment is expected to capture the larger share (~56%) of the laser interferometer market throughout the forecast period and grow at the highest CAGR during the forecast period. A homodyne interferometer uses a single-frequency laser source, whereas a heterodyne interferometer uses a laser source with two close frequencies. Most commercial Fourier-Transform (FT) spectrometers today use Helium-Neon (HeNe) laser interferometers as position sensors. Heterodyne interferometers are mostly used in precision instruments for modern industrial and scientific applications, which is expected to propel the growth of the laser interferometer market. In heterodyne interferometers, only a single detector is required to measure both the displacement and the direction, which makes the alignment of an object easier.

The Asia Pacific is expected to grow at the highest rate

The APAC region is expected to witness the highest growth during the forecast period, owing to increasing use in applications, such as surface topology, metrology, inspection, and detection. APAC is a potential market for laser interferometers, owing to the increasing urbanization, increasing demand for automobiles, and rapidly growing electronics manufacturing industry in the region. The increasing adoption of advanced technologies for precise measurements in the manufacturing sector in APAC is expected to propel the growth of the laser interferometer market in the region. Many industrial products such as automotive parts and components, electronics devices, heavy machines, and electrical devices contain various mechanical parts, most of which have tight tolerances that need to be measured and calibrated before the parts are assembled into final products. This is expected to increase the demand for laser interferometers in the automotive, aerospace, and other industries. India, China, South Korea, and Japan are some of the major countries contributing to the growth and development of the laser interferometer market in APAC.

Major players in the Laser Interferometer market include Renishaw PLC (UK), Keysight Technologies (US), Carl Zeiss (Germany), SIOS Meßtechnik GmbH (Germany), AMETEK, Inc. (US), Mahr Inc. (Germany), TOSEI ENGINEERING CORP. (Japan), QED Technologies (US), MÖLLER-WEDEL OPTICAL GmbH (Germany), SmarAct GmbH (Germany), Luna Innovations Incorporated (US), 4D Technology Corporation (US), ÄPRE Instruments (US), Trioptics GmbH (Germany), AdlOptica Optical Systems GmbH (Germany), Logitech Limited (UK), Holmarc Opto-Mechatronics P Ltd (India), attocube systems AG (Germany), HighFinesse Laser and Electronics Systems GmbH (Germany), XONOX Technology GmbH (Germany), Thorlabs, Inc. (US), Automated Precision, Inc. (US), Lasertex Co. Ltd (Poland), and FUJIFILM Holdings Corporation (Japan) 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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GPON Market for the mobile backhaul application expected to grow at the highest CAGR

 The report "GPON Market by Component (OLT, and ONT), Technology (2.5G PON, XG-PON, XGS-PON, and NG-PON2), Application (FTTH, Mobile Backhaul), Vertical (Transportation, Telecom, Healthcare, Energy & Utilities, MTU), Region - Global Forecast To 2025" size is estimated to grow from USD 6.3 billion in 2020 to USD 8.3 billion by 2025, at a CAGR of 5.8%. Major factors fueling the market growth include the high demand for GPON network for triple and quad-play services, increasing demand for high-speed broadband services, advancement in GPON technology, and trial & deployment of the 5G network.

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“Optical network terminal (ONT) to lead the GPON market during the forecast period.”

Optical network terminal (ONT), also known as optical network units (ONU), is another important networking hardware installed at the user premise, which is used for the transmission of traffic through the GPON network. Its primary function is to convert optical signals transmitted via optical fiber to electrical signals, which are forwarded to business and residential users.

The GPON market is expected to be led by the ONT component in terms of volume and value during the forecast period. This, coupled with an increasing number of users availing voice, video & data services that need to be connected through the ONT hardware component, will lead to a growth of the GPON sector.

“The GPON market for the mobile backhaul application expected to grow at the highest CAGR during the forecast period.”

Among the optical fiber technologies available for mobile backhaul, GPON networks are increasingly being deployed because of its capability to allow telecom operators to increase their bandwidth capacity and maintaining the quality of service and high reliability while lowering the operational cost. Additional benefits offered by the GPON network for mobile backhaul application includes the efficient topology, minimal hardware requirement, scalability, redundancy, and synergy using the existing fixed-line access. The increasing adoption of GPON networks for mobile backhauling makes the economies of GPON more attractive to network operators.

“Market in Rest of the World expected to grow at the highest CAGR during the forecast period.”

The rest of the world comprises South America, the Middle East, and Africa, which are the potential markets for GPON. Increasing subscription base of FTTH users in the South American countries is driving the growth of the GPON market in this region. Saudi Arabia, UAE, and Turkey are some of the prominent countries witnessing increasing demand for GPON in the Middle East region. Growing investments by telecom companies in Africa’s optical network has resulted in the growth of the GPON market.

The major companies involved in the development and supply of GPON include Huawei (China), Nokia (Finland), ZTE (China), Fiberhome (China), Calix (US), ADTRAN (US), DASAN Zhone (US), Cisco (US), NEC (Japan), Allied Telesis (Japan), Iskratel (Slovenia), Unizyx (Taiwan), and Alphion (US).

Don’t miss out on business opportunities in GPON 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