Trending Now

New Articles

Global IoT Communication Protocol Market to Surpass US$ 24.6 Billion by 2032 Amid Skyrocketing Demand for Smart Home Appliances

communication
Global Trade Daily, Technology

Global IoT Communication Protocol Market to Surpass US$ 24.6 Billion by 2032 Amid Skyrocketing Demand for Smart Home Appliances

Leave a comment

In 2032, the IoT communication protocols Market is anticipated to be worth US$ 24.6 Billion. In 2022, its estimated value was US$ 15.9 Billion. It is likely to see a CAGR of 4.5% between 2022 and 2032.

Consumer electronics are integrating IoT communication protocols as they enable connectivity and communication across devices. These facilitate the development of connected and smart products further.

These protocols give data sharing a defined structure and make it possible for devices from various manufacturers to work together. They aid in guaranteeing smooth data transport and communication. Smart home appliances frequently use Wi-Fi to connect to a network at home and the internet.

Bluetooth is often utilized in audio and wearable technology. Consumer gadgets using IoT connection protocols can perform functions, including remote monitoring & control, real-time data analysis & feedback, and improved device compatibility.

Standardization and interoperability through IoT communication protocols are vital as IoT devices are being adopted more widely in consumer electronics. These are improving user experience and enabling smooth data sharing and communication between devices.

Demand for IoT communication protocols that can support edge devices is expected to increase. Edge computing, which involves processing IoT data at the edge of networks, is set to become highly popular by 2032.

Edge computing decreases the quantity of data that needs to be transferred to the cloud and allows for real-time data processing. It can lower the need for bandwidth while enhancing device performance.

The usage of IoT has increased significantly recently all across the world. Around 8.6 billion IoT devices were present worldwide in 2019. As IoT device adoption accelerated globally, the total number of IoT devices was estimated to be 12.14 Billion in 2022.

By 2030, it is predicted that there will be about 23.14 Billion IoT devices on the planet. The need for IoT communication protocols is anticipated to rise over the course of the assessment period, as there are more IoT devices in use worldwide.

Key Takeaways:

  • The global IoT communication protocol industry exhibited a CAGR of 3% in the historical period from 2017 to 2021.
  • The United States IoT communication protocol industry is expected to be worth US$ 7.5 Billion by 2032.
  • The United Kingdom IoT communication protocol industry is anticipated to reach a valuation of US$ 1.2 Billion in 2032.
  • By type, the Wi-Fi segment is expected to bolster at a CAGR of 4% from 2022 to 2032.
  • Based on application, the consumer electronics segment exhibited a CAGR of 0% from 2017 to 2021.

Competitive Landscape:

Leading developers of IoT communication protocols are concentrating on creating real-time protocols to support IoT applications. Applications, including industrial automation, smart grid management, and autonomous cars would call for quick and dependable data interchange.

Several additional businesses are creating protocols that can be connected with cloud services. They want to make it possible for IoT systems and devices to be managed, monitored, and have their data analyzed remotely. Scalable protocols that can handle a lot of devices and data traffic are still being developed.

For instance,

  • In April 2020, Infineon Technologies revealed its acquisition of Cypress Semiconductor. It encompasses Cypress’s range of IoT communication technologies, specifically Wi-Fi and Bluetooth. Through this acquisition, Infineon Technologies is aiming to enhance its IoT solutions for clients and broaden its range of offerings.
NFC chip
Global Trade Daily, Market insight, Technology

NFC Chip Market Size is Estimated to Surpass US$ 7.6 Billion Rise at 15% CAGR by 2033

Leave a comment

The global NFC chip market is valued at US$ 1.9 billion in 2023 and is predicted to progress at a CAGR of 15% from 2023 to 2033.

One of the key drivers of the near field communication (NFC) chip market is the increasing adoption of mobile payments across the world. Many people are now using their smartphones to make payments, and NFC technology is a key enabler of this trend. NFC-enabled smartphones can be used to make payments at point-of-sale terminals that support contactless payments, which is more convenient and secure than using cash or traditional payment methods.

Get to Know More: https://bit.ly/41Xp6Tr

Another factor boosting the sales of NFC chips is the development of the Internet of Things (IoT). NFC technology is being used in a wide range of IoT applications, from smart homes to connected cars. NFC-enabled devices can be used to exchange data and enable secure communication between devices, which is essential for many IoT applications.

Sales of NFC chips are experiencing tremendous growth, with increasing demand from various industries, including healthcare, retail, transportation, and finance. The healthcare industry is significantly using NFC technology for patient monitoring and remote healthcare services, while retailers are using it to improve the customer experience by offering several mobile payment options and personalized promotions.

Key Takeaways from Market Study

  • The global NFC chip market is expected to reach US$ 7.6 billion by 2033.
  • The United States market for NFC chips is expanding rapidly due to the presence of key market players.
  • NFC technology is widely used in the healthcare sector in Germany.
  • China is the leading market in Asia Pacific due to its increasing use in the banking sector.

“Popularity of wireless charging and NFC-enabled vehicle diagnostic systems are fuelling NFC chip sales,” says a Fact.MR analyst.

Recent Market Developments

  • STMicroelectronics introduced an affordable NFC Type 2 Tag IC with privacy features and enhanced NFC data exchange format (NDEF) in November 2021. For high-volume utilisation cases such as customer engagement, product information, and brand protection, the solution offers a balance of cost and functionality.
  • In May 2019, NXP Semiconductors and Identive, a leader in digital security and identity for the Internet of Things, developed an ultra-cheap RFID inlay.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global NFC chip market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on product type (auxiliary, non-auxiliary), storage capacity (up to 64 bytes, 65 to 168 bytes, 169 to 180 bytes, 181 to 540 bytes, above 540 bytes), application (smartphones, laptops & notebooks, smart cards, televisions, point-of-sale systems, medical devices, vehicles, smart wearables), and end-use industry (automotive & transportation, consumer electronics, retail, BFSI, healthcare, building & infrastructure, media & entertainment), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

telepresence
Global Trade Daily, Market insight, Technology

Telepresence Robot Market is Estimated to reach US$ 1.6 Billion by the End of 2033

Leave a comment

The global telepresence robot market is expected to reach a valuation of US$ 1.6 billion by the end of 2033, expanding at an exceptional CAGR of 17% during the assessment period (2023 to 2033). Rising demand for telepresence robots from the healthcare industry is expected to drive market growth opportunities over the next 10 years.

A telepresence robot is a smartphone- or computer-controlled robot with an alien presence. Telepresence robots are also referred to as ‘Skype on Wheels’. Telepresence avatars offer various varieties and the robot can control the complete view of its surroundings instead of having a stationary view of target participants.

Improved operational efficiency in different medical organizations owing to technological advancements and virtual interactions through telepresence robots is anticipated to drive market growth. Telepresence robots come with different features, including zoom capabilities, laser pointers, and self-directed driving for improved convenience and communication. Users can interact and view remote environments, including manufacturing plants, nursing homes or hospitals, and warehouses, by using these robots.

Get Crucial Business Analysis (PDF): https://bit.ly/3KYpZnX

Key Takeaways from Market Study

  • The global telepresence robot market is valued at US$ 334 million in 2023.
  • Worldwide demand for telepresence robots is predicted to increase at a high-value CAGR of 17% from 2023 to 2033.
  • The global market is forecasted to reach a valuation of US$ 1.6 billion by the end of 2033.
  • North America is projected to hold a significant share of global market revenue over the next 10 years.

“Growing advancements in robotic technology, increased adoption of telepresence robots in residential & educational sectors, and rising R&D activities for product advancements are predicted to generate lucrative opportunities for players in the target industry,” says a Fact.MR analyst.

Increasing Demand for Telepresence Robots in Healthcare Industry

In recent years, there has been a noteworthy increase in the demand for telepresence robots in the healthcare industry, which is further accelerating growth opportunities. Increased adoption of telepresence robots is attributed to the easy availability of supporting devices due to their cost-effectiveness. Moreover, technological advancements in telepresence robots to increase the operational effectiveness of medical procedures are also contributing to enhanced market growth.

Market Suffering from Rising Technical Complexities and Lack of Secure Communication Protocol

There are certain technical complexities, which are leading to operational failures. These complications associated with the operation of telepresence robots are also estimated to curtail expansion opportunities. The lack of a secure communication protocol is also anticipated to further challenge providers of telepresence robots.

Winning Strategies

Key market players are investing in new developments, product launches, etc., to provide more efficient solutions and to gain a competitive edge in the industry.

For instance,

  • In February 2020, GoBe Robots introduced a new telepresence robot, which is predicted to reduce the emissions of CO2 by thousands of tonnes.
  • In August 2019, Blue Ocean Robotics acquired Beam, which is a remote-controlled telepresence robot. As per Blue Ocean Robotics, the company has taken sole possession of facilities, which work on hardware inventories, Beam robots, and other related assets.

Key service providers of telepresence technology are Double Robotics, Suitable Technologies, Inbot Technology, Mantaro Networks, VGO Communications, Qihan Technology Co. Ltd., Ava Robotics Inc., Omron Corporation, iRobot Corporation, and Fellow Inc.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the telepresence robot market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights into the market based on component (head, body), type (stationary, mobile), and application (education, enterprise, healthcare, homecare, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

newsight
Global Trade Daily, Technology

Newsight Imaging Launches MT LiDAR 3.1, a State-of-the-Art Reference Design for Accurate 3D Mapping for Robotics and Industrial Automation Markets

Leave a comment

New reference design, based on the NSI9000 1024×480 Newsight depth sensor, will allow leading industrial players to build individualized device solutions

Newsight Imaging Ltd., a leading semiconductor innovator developing proprietary 3D machine vision sensors, spectral vision chips and systems, today announced the launch of a new member of the Multi-Triangulation (MT) LiDAR reference design family, the MT LiDAR 3.1 reference design.

MT LiDAR 3.1 is based on the NSI9000 image sensor with 1024X480 pixel resolution and on-chip peak detection feature demonstrating Newsight’s multi-triangulation technology specially designed for ultra-high accuracy for short-distance measurement applications. The new reference design enables full 3D mapping by a single scan, with 480 depth points, supporting a depth resolution of 20um – 1mm, with the ability to achieve hundreds of frames per second, making it ideal for ongoing production and structure inspection control. MT LiDAR 3.1 is offered to customers for rapid development of their full solution based on Newsight chips and technology, and is highly configurable for different applications and very flexible in coping with different scenarios and lighting conditions.

Newsight’s MT LiDAR 3.1 reference design is now available for purchase. Newsight will present the MT LiDAR 3.1 reference design at the Hannover Messe conference, at Hall 17, booth no. B52, on 17-20 April, taking place in Hannover Germany. Newsight was selected to showcase its technology by GINSUM (German Israeli Network of Startup and Mittelstand) that is funded by the German government and aims to match Israeli startups with companies and business stakeholders in Germany.

solar panel
Global Trade Daily, Market insight

The Population Growth in Developing Nations has had a Direct Impact on the Production of Solar Panel

Leave a comment

According to Future Market Insights’ most recent market study, the Solar Panel market will be valued at US$ 165.47 Billion by 2023. The Solar Panel market value is expected to reach US$ 355.24 Billion by 2033, with a steady growth rate of 8.86%.

According to FMI data, the worldwide solar power market grew by 16.1% between 2019 and 2021. In recent years, the population growth in developing nations has had a direct impact on the production of electricity. With more people trying to reduce carbon emissions, electricity from renewable sources is seen as the best alternative to oil and coal. It is also growing at a rate that is sustainable, at 8.84%.

Solar energy uses either thermal energy (heat) or photovoltaic cells in solar panels and photovoltaic glass to generate electricity. Currently, the total amount of solar energy incidents on Earth is enormous and sufficient to meet all energy needs. If adequately tapped, this highly dispersed source has the potential to supply all future energy demands. For every kilowatt-hour produced, solar energy has a 20-times lesser environmental impact.

The environmental norms to reduce the usage of fossil fuels and carbon emissions from their combustion have increased the demand for renewable energy and its source materials. This characteristic is projected to propel market growth throughout the decade.

Historical (2018 to 2022) v/s Forecast (2023 to 2033) Market Outlook for Solar Panel Market

The worldwide solar photovoltaic (PV) market is segmented by region as follows: North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. The majority of the international market was located in Asia and the Pacific. In 2021, the area will see an increase of more than 81 GW in solar capacity. High solar irradiation and low component production costs are the major factors propelling the market. Market expansion will be driven by increased power consumption and some countries’ ambitious goals to reduce carbon emissions. China and India are two such countries. By 2021, China will have put in place solar energy plants with a combined capacity of more than 51 GW. In 2025, the country will have the most solar power capacity of any in the world. Europe has the second-largest solar capacity in the world, measured by the number of solar PV installations. In 2021, the European Union will have more than 21 GW of solar photovoltaic installations. The construction of large-scale solar farms is flourishing in this area.

These factors are mostly responsible for the growth of the European market. The European Union’s (EU) Renewable Energy Directive laid out the organization’s plan for increasing the use of renewable energy and generating its own supply. This mandate established targets for including 20.5% renewable energy in the overall energy mix. The growth of the market in this area will be sped up by the presence of such factors. Europe, Asia, and North America are experiencing rapid growth in the solar industry. Solar photovoltaic capacity is growing in North America. By 2021, off-grid solar installations in the area and Central America will have a combined capacity of more than 100 MW.

Market Dynamics

Demand dynamics of Solar panels to flourish technological efficiency of energy generation.

With the help of efficient technology like thin film and polycrystalline panel innovation, the efficiency of solar panels has increased both during the sunshine day and during the rainy season, allowing energy to be generated year-round for the first time. This has increased the demand for solar acceptance in residential areas. You can easily maintain your solar systems functioning effectively with low expense by completing periodic maintenance and keeping checks on them.

Thriving Demand for the industrial segment to expand the market for Solar Panel

Solar panels can be installed on rooftops to collect solar energy or utilised to generate captive electricity for use in the industrial manufacturing supply chain. The cost of electricity seems to increase perpetually. Electrical costs average 14% of a warehouse’s entire budget. Rooftop solar panels have lower tariff rates than commercial and industrial ones by 18% and 26%, respectively. If any company requires a great deal of electricity to run things like machinery and indoor and outdoor lighting, they need to look into renewable energy options like solar to keep expenses down.

High Initial setup expenditures along with Income Gaps and delays in government subsidy support are Constraints on the Growth

Building operational costs will be cheaper in the short and long term as a result of having solar panels put on the roof. There are two types of partnerships that may be used to put solar panels on a roof: a capital expenditure arrangement and a power purchase agreement. The consumer invests in the solar system, and the energy it generates may be utilised to power the business on a regular basis. After then, people can sell their extra power to the government. In this calculation, there is a need for an initial investment that is huge to see as an electric charge in a short time span. For a setup of a 4KW power supply, there is a need to invest 4300$ on average in East Asia and South Pacific region.

What Is the Growth Outlook of the Solar Panel Market in the USA?

In 2022, the solar photovoltaic (PV) market in the United States was estimated to be worth 11.25$ billion. Carbon emissions from traditional fuels used in transportation and electricity generation have increased, prompting environmentalists to demand that the country switches to cleaner, more efficient alternatives. The region’s economy is predicted to expand because of the rising demand for sustainable energy and favourable government regulations, subsidies, and tax breaks for installing solar PV systems. Residential and commercial sectors have been strengthened in the current time period.

Competitive Landscape

New studies from the United Nations Environment Programme (UNEP) indicate that this is the largest ever. Most of the decrease in worldwide renewable energy funding may be attributed to slower investment in such sources in Japan and China, but other smaller markets also played a role. Investment from developing nations fell by 28% overall, while investment from industrialised nations fell by 15%. As a result, renewable energy becomes increasingly cost-competitive with grid electricity without the need for subsidies. In 2017, renewable energy won major energy auctions throughout the world at pricing unimaginable a decade earlier. Unsubsidized bids in Dubai reached 2.98 cents per kilowatt hour, which was lower than those for fossil fuels. Solarpack, a company in Chile, submitted a record-low bid of 2.8 cents per kilowatt-hour in 2016, which was about half the price of the most competitive bid for coal.

For Instance,

In 2022, the Top five sellers of Solar Panel Worldwide Sunrun, Inc., Pekat Group Bhd., Insolation Energy Ltd., Stilo Energy SA, Erato Energy SA and Enerside Energy SA.

digital engineering
Global Trade Daily, Technology

Global Engineering Services Outsourcing Market Set to Skyrocket at 19.67% CAGR, Reaching US$ 6,802.92 Billion by 2031

Leave a comment

The engineering services outsourcing market is projected to experience significant growth in the next decade. The market is driven by various factors such as cost-saving, expertise, scalability, and reduced risk. The telecom industry is the largest consumer of engineering outsourcing services, with a projected revenue share of 22% by 2031.

Global engineering services outsourcing market is expected to record a revenue of US$ 6,802.92 Bn by the end of the year 2031 from US$ 1,439.97 billion in 2022. The market is growing at a compound annual growth rate (CAGR) of 19.67% during the forecast period of 2023–2031. One of the primary drivers of this growth is the increasing adoption of technology, especially in the manufacturing sector. This trend has led to an increased demand for engineering services in areas such as design, prototyping, and testing.

Another significant factor driving this market’s growth is the increasing trend of outsourcing engineering services by companies to reduce costs and enhance efficiency. The COVID-19 pandemic has further accelerated this trend as businesses have sought ways to cut costs during these challenging times. As a result, there has been an increase in demand for engineering services outsourcing, particularly in software development, cloud computing, and cybersecurity.

Moreover, globalization has played a significant role in driving the engineering services outsourcing market. Many companies are exploring new markets, particularly in emerging economies, and outsourcing engineering services to gain a foothold in these markets. As a result, there has been an increase in demand for engineering services, especially in product localization and customization.

Digitalization, Automation, and Innovation: The Current Shift in the Global Engineering Services Outsourcing Market

The global market is currently experiencing a shift towards digitalization, automation, and innovation. With the increasing adoption of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT), there is a growing demand for engineering services that can integrate and optimize these technologies.

Additionally, the COVID-19 pandemic has further accelerated this shift towards digitalization and automation, as companies are looking to reduce costs, improve efficiency, and enhance their digital capabilities. This has led to an increased demand for engineering services in areas such as digital transformation, cybersecurity, and cloud computing.

Moreover, there is a growing need for engineering services that can help companies innovate and stay competitive in today’s rapidly changing business environment. This has led to an increased demand for engineering services outsourcing market in areas such as product design and development, prototyping, and testing.

Furthermore, there is a trend towards more strategic outsourcing partnerships, with companies looking for engineering services providers that can offer end-to-end solutions and help them achieve their business objectives. This has led to an increased focus on building long-term relationships and partnerships between clients and service providers.

More than 15% Revenue in Global Engineering Services Outsourcing Market is to Come from Process Designing Services

Outsourcing has become a popular choice for companies looking to design and develop their processes. This trend is driven by a variety of factors, including cost savings, expertise, flexibility, scalability, faster time-to-market, and reduced risk.

According to recent surveys, outsourcing has become a popular choice for companies looking to design and develop their processes. The trend is driven by a variety of factors, including cost savings, expertise, flexibility, scalability, faster time-to-market, and reduced risk. A survey by Astute Analytica found that 57% of companies outsource process design to improve cost efficiency, while 47% do so to gain access to specialized skills and knowledge. It was also found that 90% of executives believe outsourcing enables them to scale up or down more easily. Outsourcing process design to countries with lower labor costs allows companies to save money on salaries, benefits, and overhead expenses associated with hiring and managing an in-house engineering team.

Moreover, outsourcing to a specialized engineering firm provides companies with access to experienced engineers who are well-versed in the latest technologies and best practices, which can help reduce the design cycle time and bring products to market faster. By leveraging the expertise of experienced engineers, companies in the global engineering services outsourcing market can identify and mitigate potential risks early in the design process, thereby reducing the risk of costly mistakes and delays. As outsourcing continues to grow in popularity, it is likely that more and more companies will rely on outsourcing to drive their innovation and growth.

Telecom Industry is Leveraging Engineering Outsourcing Services for Growth and Innovation and Generate More than 22% Revenue

The telecom industry has emerged as the largest consumer of engineering outsourcing services in recent years. By 2031, the segment is projected to generate more than 22% revenue share in the global engineering services outsourcing market. This trend is driven by several factors, including the rapid growth of the telecommunications sector, the need for specialized engineering expertise, and the increasing pressure to reduce costs and improve efficiency. The telecom industry relies heavily on engineering outsourcing services for a range of activities, including network planning and design, software development, product testing, and customer support.

Outsourcing these activities allows telecom companies to focus on their core competencies, reduce costs, and improve agility. Moreover, outsourcing to specialized engineering firms provides telecom companies with access to expertise and experience that may not be available in-house. As the demand for high-speed internet and mobile communication continues to grow, the telecom industry is expected to remain a major consumer of engineering outsourcing services in the coming years.

Capgemini Set to Make Significant Contribution to the Engineering services outsourcing market with More Than 7% Market Share

The market is highly competitive, with several players operating in the market. The top 5 players are projected to hold a revenue share of more than 29% by 2031, owing to their wide range of engineering services, including product design, simulation, testing, and prototyping.

According to Astute Analytica’s recent report on the engineering services outsourcing market, Capgemini’s position as one of the largest players in the market can be attributed to the company’s focus on innovation and digital transformation. The company has been investing heavily in technologies like artificial intelligence, IoT, and cloud computing, which has enabled it to offer cutting-edge engineering solutions to its clients.

Capgemini’s extensive experience in the engineering industry and its ability to provide end-to-end engineering services have also been key factors in its success. The company has a strong track record of delivering complex engineering projects on time and within budget, which has helped it build a loyal customer base.

Despite its leading position in the market, Capgemini faces intense competition from other major players in the industry. To maintain its market share and continue growing its business, the company will need to keep investing in new technologies and adapting to the changing needs of its clients.

Some of the Top Market Players Are:

  • Accenture
  • AKKA Technologies
  • Altair Engineering, Inc.
  • ALTEN SA
  • ASAP Holding GmbH
  • Assystem
  • AVL List GmbH
  • Bertrandt
  • Capgemini SE
  • Cognizant
  • Cyient
  • EDAG
  • ESI Group
  • Ferchau
  • Genpact
  • Geometric
  • HCL Technologies Limited
  • IAV
  • IGate
  • Infosys
  • IBM
  • ITC Infotech
  • KPIT
  • L&T Technology Service
  • Neilsoft
  • QuEST Global
  • Ranal Inc.
  • Segula Technologies
  • Semcon
  • Tata Consultancy Services
  • Tata Elxsi
  • Tata Technologies
  • Tech Mahindra
  • Wipro
  • Other Prominent Players

 

stream time
Global Trade Daily, Software

High-Speed Internet and Advanced Digital Infrastructure Increase the Demand for Video Streaming Software Market

Leave a comment

The video streaming software Market is anticipated to progress at an impressive CAGR of 10.2% to reach US$ 12.87 Bn by the end of 2030. At present, the broadcasting industry is experiencing an ever-increasing demand for original video content. Major competitors are spending billions on the production of new content to satisfy their existing audiences and attract new viewers.

As such, several developers and broadcasters are striving to boost their video streaming software and services by creating original content to enhance brand reputation. Availability and quality of premium live content on different devices continues to grow, as live video streaming is in its nascent stage. Viewers who were earlier watching live events and sports on TV have started to shift towards these platforms, mainly due to the availability of live video content as per their linking and convenience.

This demand-side trend is working in favor of the growth of the video streaming software market, which is projected for nearly threefold growth over the next decade.

Key Takeaways

  • For residential end-users, 4K or UHD video streaming software is becoming mainstream, and this trend is likely to grow with an increase in the availability of mobile devices that support these formats.
  • Although some regions such as Latin America have limited broadband penetration and high levels of piracy, they show great potential in becoming over-the-top (OTP) video streaming software market leaders in the coming years, owing to the changing habits of end users.
  • Although growth in the total number of video streaming subscriptions is slowing down in North America, consumption time or video streaming time per user continues to increase, as the content that is available to stream is constantly improving.

COVID-19 Pandemic Impact Analysis

The pandemic benefited the market for video streaming software. Because most individuals were staying at home due to mandatory confinement measures and health safety compliances, there was an increase in VoD and OTT subscriptions.

Several offices were closed due to supply chain disruptions across verticals and containment measures, while a majority of businesses adopted the “work-from-home” initiative. This increased the use of video streaming for business continuity needs such as internal communication, training & development, and massive audience interactions all around the world.

As per industry experts, most video streaming vendors or those from related markets experienced an increase of 20%-40% in their customer base due to the pandemic.

Competitive Landscape

Brightcove Inc., Haivision, IBM, Kaltura Inc. and Panopto are key video software solution providers featured in this report.

To strengthen their offers in the market, video streaming software providers are using both, organic and inorganic growth tactics, including new product launches, product upgrades, partnerships and agreements, business expansions, and mergers & acquisitions.

Leading video streaming software service providers are Netflix, Amazon Prime Video, Hulu, Disney Plus, and YouTube TV.

  • To unlock the potential of video streaming services, several major video streaming service providers are willing to invest extensively in innovation and research & development processes. Market players are also working on assuring greater quality and consumer satisfaction with technology.
  • Netflix introduced video games in July 2021 as part of a drive beyond films and television. It aided the corporation in making its first major leap outside television series and films, and it now plans to expand into video games.
  • Amazon introduced a free video offering on its shopping app in May 2021. The firm established MiniTV, a free, ad-supported video streaming service available within the Amazon shopping app.
global Integrated Passive Devices pulp demand power
Global Trade Daily, Market insight, Technology

The Rapidly Growing Demand for Batteries from Automotive Sector and Enhanced Applications of Batteries in Vehicles is Boosting the Market Demand

Leave a comment

Battery Manufacturing Machines Market Outlook (2023 to 2033)

As per Future Market Insights, the battery manufacturing machines market is anticipated to attain a value pool of US$ 10 billion by 2023-end. Global demand for battery manufacturing machines is expected to rise at a CAGR of 26% to US$ 100 billion in 2033.

Key Expansion Drivers

Increasing demand for marine batteries: The increasing demand for electric boats and ships is driving the demand for marine batteries. As the marine industry continues to adopt electric propulsion, there will be a growing need for battery manufacturing machines that can produce high-capacity marine batteries.

Growth of the aerospace industry: The aerospace industry is increasingly adopting electric propulsion for aircraft and drones, which is driving the demand for high-performance batteries. This presents prominent growth prospects for battery manufacturing machine manufacturers to produce batteries for the aerospace industry.

Expansion of the telecommunications industry: The telecommunications industry is increasingly adopting renewable energy sources, such as solar and wind, to power their infrastructure. As the industry grows, there will be a growing need for battery manufacturing machines that can produce batteries for telecom applications.

Increasing demand for military applications: The military is increasingly adopting electric vehicles and energy storage systems to reduce its reliance on fossil fuels. This presents prominent growth prospects for battery manufacturing machine manufacturers to produce batteries for military applications.

Expected Growth Opportunities

Increasing adoption of automation: The adoption of automation in battery manufacturing is increasing, and this presents an opportunity for manufacturers of battery manufacturing machines. Automation can help increase efficiency, reduce costs, and improve quality in the manufacturing process.

Growing demand for portable power solutions: The demand for portable power solutions, such as portable chargers and power banks, is growing as more people rely on portable electronic devices. This presents an opportunity for battery manufacturing machine manufacturers to produce batteries for these application

Increasing adoption of wearable devices: The demand for wearable devices, such as smartwatches and fitness trackers, is growing as people become more health-conscious. This presents an opportunity for battery manufacturing machine manufacturers to produce small, lightweight batteries for wearable devices.

Prevalent Market Trends

Development of advanced manufacturing technologies: The development of new and advanced manufacturing technologies, such as additive manufacturing (3D printing), is driving the growth of the battery manufacturing machines market. These technologies can help reduce the cost and time required to manufacture batteries.

Emergence of Solid-State Batteries: The emergence of solid-state batteries is also driving the growth of the Battery Manufacturing Machines Market. Solid-state batteries are safer and have higher energy density than traditional lithium-ion batteries, which makes them a more attractive option for use in EVs and other applications. However, the manufacturing process for solid-state batteries is more complex than traditional lithium-ion batteries, which is driving the need for new battery manufacturing machines that are designed specifically for the production of solid-state batteries. This trend is expected to continue in the coming years, as more companies invest in the development of solid-state batteries.

Development of Battery Recycling Technology: The development of battery recycling technology presents an opportunity for the Battery Manufacturing Machines Market. As the demand for batteries increases, so does the need for battery recycling. Recycling can help reduce the environmental impact of battery production and extend the life of batteries, which can ultimately reduce costs. As battery recycling technology continues to develop, there will be a growing need for battery manufacturing machines that can produce recycled batteries.

Increasing E Mobility and enhanced application of electric devices for various industries is key demand factor for battery manufacturing machines. Increasing concern for reducing carbon footprint is anticipated to augment growth for this market.

What is Driving Demand for Battery Manufacturing Machines?

The rapid growing demand of batteries from automotive sector due to increasing popularity of electric vehicles and enhanced applications of battery in vehicle is boosting the market demand of battery manufacturing machines, also new innovations and growth of electric consumer appliances are enhancing sales of batteries.

The demand for li-ion battery based product has risen in past few years and the demand growth is anticipated to continue in upcoming period due to enhancing applications of Li-ion based batteries in various applications due to its safety and ability to work in different temperature conditions, Key manufacturers are also focusing on providing innovative and convenient to use manufacturing equipment.

Furthermore various initiatives taken by governments and various organizations to reduce the carbon foot print and E-waste is key factor the enhanced sales of the battery manufacturing machines in upcoming periods, battery manufacturing machines supports sustainable environment by producing and remanufacturing used batteries which is beneficial way to decrease the e-waste.

Automotive Industry to Boost the Demand for the Battery Manufacturing Machines in Upcoming Period

Automotive Industry is experiencing rapid growth due to innovations and rapid updating technologies, escalated sales of electric & hybrid vehicles are lifting automotive sector up, and the sales of electric and hybrid vehicles are expected to be raising higher in upcoming period, owing to that reason battery manufacturing machine sales are also expected to be higher since battery is key component of electric vehicle.

However, the demand from automotive industry was effected due COVID – 19 due to which production and sales of vehicles were highly impacted. Also manufacturing plants were closed and supply network was shut off, which impacted sales of Battery manufacturing machines negatively.

process market
Global Trade Daily, Market insight

The Rising Usage of Power Generators in Military Applications is Driving the Global Market Forward

Leave a comment

Power Generator for Military Market Outlook (2023 to 2033)

The global power generator for military market size is predicted to reach US$ 1,127.1 million in 2023 and further expand at 3.6% CAGR. Total military power generator sales are set to rise at a steady CAGR between 2023 and 2033, totaling a valuation of US$ 1,605.3 million by 2033.

By 2033, the top five companies are projected to hold a significant share of the military power generator industry. Based on the capacity, up to 60 KW generators are set to create lucrative growth opportunities in the global market. This is due to their portability size and instant power generation ability.

During the projection period, the global market for military power generators is predicted to increase by 1.45x times its present level.

In 2023, the global market for military power generators is expected to account for about 3% to 6% of the worldwide generator sales market. FMI estimates the global generator sales market to reach US$ 32.2 billion in 2023.

In recent years, power generators have become essential equipment across the thriving defense and military industry due to their numerous applications. These power generators have become ideal backup power systems at military bases and other critical locations. This is due to their ability to provide a reliable power supply during a grid outage.

The increasing need for uninterrupted and reliable power sources for successful military operations is acting as a catalyst triggering the development of power generators for military industry.

Increasing spending on military and defense coupled with surging demand for advanced power generation solutions that can provide continuous and constant power supply is expected to boost military power generator sales.

Robust development of military bases in nations such as the United States, China, Russia, and Germany is expected to drive up demand for power generators for the military.

In the field, where it’s difficult to transport a bulky generator to areas such as hills and water boundaries, armed forces rely on lightweight, portable generators. Hence, the growing popularity of mobile and portable generators in military applications is expected to create lucrative growth opportunities for military power generator manufacturers.

Advancements in military generators and the development of compact tactical power generators are projected to boost military power generator sales through 2033. Subsequently, shifting preference towards eco-friendly power generators is expected to bode well for the market.

Currently, diesel generators remain the top-selling category. However, with tightening environmental laws due to increasing air pollution levels, demand for natural gas generators is expected to rise at a high pace during the projection period.

Increasing usage of thermoelectric generators for specific military applications due to their compact & lightweight construction and quiet operation is expected to further boost the market.

Leading military power generator manufacturers are focusing on developing innovative power generators with better efficiency, low carbon footprint, and reduced size. They are getting new assignments and projects from several military organizations for developing customized solutions. For instance, in order to manufacture the X-Engine platform for powering small tactical generators ranging from 2-5kW, LiquidPiston, Inc. was awarded Small Business Innovation Research contract by the United States Army.

2018 to 2022 Power Generator for Military Sales Outlook Compared to Demand Forecast from 2023 to 2033

Global sales of power generators for the military grew at a CAGR of 1.9% during the historical period from 2018 to 2022. However, according to Future Market Insights, global power generator for military demand is set to rise at a steady CAGR of 3.6% between 2023 and 2033.

The demand for distributed energy is increasing notably in the military sector. This trend is projected to continue over the coming years in tactical military communications, battlefields, locations, bases, field hospitals, and command systems. As a result, power generator sales in the military sector are set to rise at a significant pace.

Similarly, government spending on military and defense coupled with high demand for reliable power generation sources is projected to bolster military power generator demand.

Several military agencies worldwide are focusing on establishing integrated power systems such as microgrids to accommodate advanced power generators. This is creating a high demand for hybrid generators as they enable users to reduce expenses and carbon footprint.

Geographic Forecasts

North America to Remain a Significantly Lucrative Market for Military Power Generator Manufacturers

According to Future Market Insight, North America held around 36.6% share of the power generator for military industry in 2022. It is expected to retain its dominance throughout the projection period.

The robust expansion of the military & defense sector and the rising need for continuous power supply for military applications are key factors driving North America power generators for military market.

North America has become one of the most promising markets for mobile and portable power generators. Military power generators continue to be an area of investment for regional governments.

The heavy presence of leading power generator companies and the growing popularity of environmentally friendly generators and hybrid generators are expected to boost the North American market.

East Asia power generator for military market is poised to exhibit significant growth over the next ten years. Increasing government spending on advanced military equipment and easy availability of technologically advanced power generators at low prices are a few of the factors driving the East Asia market.

Burgeoning Spending on Defense and Military Fueling Military-grade Generator Sales in the United States

According to Future Market Insights, the United States power generator for the military market is forecasted to exhibit a steady growth rate during the forecast period. It is expected to hold around 34.5% share of the global market by 2033.

The rapid expansion of the military & defense sector and the high demand for reliable power-generating resources in military applications are key factors propelling power generators for military sales in the United States.

Similarly, escalating defense spending and the presence of leading power generator manufacturers are expected to boost the United States power generator for the military industry during the projection period.

Since its independence, the United States government has been rigorously spending to strengthen and expand its military and defense sector. However, with recent global developments and rising national security concerns, this spending has skyrocketed. For instance, the United States defense budget and military spending reached US$ 801 billion in 2021, according to the EXECUTIVEGOV. A significant portion of the military budget is spent on equipment required for combat operations.

As a result of the increased defense expenditure, military power generator sales in the country are estimated to rise at a significant pace over the next ten years (2023 to 2033). By the end of 2033, the United States is predicted to hold a massive share of North American power generators for the military market.

Competitive Dashboard: A Closer Look at the Marketspace

To meet the rising demand from the military and defense industry, power generator manufacturers are developing efficient and cost-effective power production technologies. They are putting efforts into producing hybrid generators to increase sales.

Recent Developments:

HIMOINSA: In October 2022, the company revealed its entire range of diesel generator sets at Bauma 2022.

Kohler Co.: In November 2022, the company completed the extension of its prevailing North American generator manufacturing unit in Mosel, Wisconsin. This project commenced in March 2021 and includes a customer experience centre of 10,000 sq. ft. and a testing, production, and warehousing space of 155,000 sq. ft. The company continues to observe the demand for its integrated power systems and KD Series large diesel industrial generators.

Rolls-Royce Holding plc: In July 2021, the company developed a high-functioning hybrid-electric propulsion system to be used in aerospace.

Cummins Inc.: In August 2022, Cummins Inc. completed the acquisition of Meritor, Inc. Earlier in March 2019, the company launched the HSK78G series of natural gas generators. Each model in this series features efficient gas technology innovations.

Global Trade Daily, Market insight, Technology

Global Industrial Robotics Market Soars to Unprecedented Heights

Leave a comment

Projected to Surpass US$ 150 Billion Valuation by 2031 | More than 680 thousand Units Industrial robots Installed in 2022

The global industrial robotics market is expected to experience strong growth in the coming years, driven by increasing demand for automation, improvements in robotic technology, and the need to improve supply chain efficiency. The material handling segment is expected to be a key contributor to this growth, with the market projected to surpass US$150 billion by 2031. As e-commerce continues to grow, the demand for material handling robots is expected to increase, making it a critical area of focus for industrial robotics companies.

Global industrial robotics market generated revenue of US$ 18.2 billion in 2022 and is anticipated to reach the valuation of US$ 151.4 billion by 2031 at a CAGR of 27.2% over the course of forecast period, 2023–2031.

Industrial robots are playing an increasingly important role in a wide range of industries, from manufacturing and logistics to healthcare and the public sector. In its latest report on the market for industrial robots, Astute Analytica found that the global installed base of industrial robots will grew from 391.5 thousand units in 2019 to 690.9 thousand units by 2022. The analysis shows that the electronics/electrical equipment industry will continue to be the largest user of industrial robots, with an installed base of 177.2 thousand units by 2022. This is followed by the automotive and chemicals/pharmaceuticals industries, which are expected to have an installed base of 157.2 thousand units and 28.7 thousand units, respectively in 2022.

The Asia-Pacific region is expected to be the biggest market for industrial robots, with an installed base of 504.8 million units in 2022. This is followed by Europe (97.1 million units) and North America (55.0 million units).

The research indicates that there is a growing trend towards more technologically advanced industries such as automotive and electronics, leading to an increased demand for industrial robots that can handle complex tasks. Additionally, there is an increasing popularity of collaborative robots designed to work safely alongside humans in industries like healthcare, retail, and logistics in the global industrial robotics market. Developing countries are also emerging as growth markets for industrial robots, as multinational companies set up manufacturing facilities, driving demand for robotic technologies. Astute Analytica forecasts that the prices of industrial robots will continue to decline as they become more widely adopted, as seen in the 20% price reduction between 2016 and 2021.

Over 680 thousand Units Industrial Robots Installed in 2022 in Global Industrial Robotics Market

According to the World Robotics report, industrial robot installations reached a record high of 680 thousand Units in 2022, at a CAGR of 38.9% from 2023-2031. Worldwide annual robot installations between 2015 and 2021 more than doubled. Asia remained the largest market for industrial robots, with China leading the pack by deploying 268,195 units, an increase of 51%.

Japan remained the second largest market with 47,182 units installed, followed by the US and Republic of Korea. Europe saw a 24% increase in installations, with Germany, Italy, and France being the top markets. In the Americas, robot installations increased by 31%, with the US leading the way with 34,987 units installed. The automotive industry remained the top adopter, but other industries such as metal and machinery, plastic and chemical products, and food and beverage saw significant increases in robot demand.

Material Handling Robots Poised to Dominate Global Industrial Robotics Market, Projected to Contribute Over 50% of Total Revenue by 2031

Material handling robots are expected to generate more than 50% of revenue in the global industrial robotics market by 2031. Material handling robots are used to move and transport materials in factories, warehouses, and distribution centers, and their increasing popularity is driven by the growing demand for automation and the need to improve efficiency in supply chain management. The adoption of material handling robots is also supported by advancements in technology, such as the development of collaborative robots that can work safely alongside humans and the integration of artificial intelligence and machine learning algorithms that enable robots to perform more complex tasks.

With the continued growth of e-commerce and the increasing demand for faster and more accurate order fulfillment, the industrial robotics market for material handling robots is expected to experience significant growth in the coming years, making it a key area of focus for industrial robotics companies.

According to the US Bureau of Labor Statistics, the employment of material handling workers is projected to grow 4% from 2019 to 2029, with an increasing demand for faster and more efficient warehouse and distribution center operations. The growing demand for automation is also driving the adoption of material handling robots. In addition, the International Federation of Robotics (IFR) reports that the sales of material handling robots increased by 6% in 2020, reaching a total of 100,000 units sold worldwide. The IFR also projects that the market for material handling robots will continue to grow in the coming years, with sales expected to reach 238,000 units by 2025.

Competitive Landscape: Top 10 Players to Hold More than 36% Revenue Share | Strong Inflow of Investment is Coming in the Industrial robotics market  

The market is highly competitive, with vendors offering a wide range of products and services. However, competition is intensifying, as new entrants are entering the market and established players are expanding their offerings. However, this can make it difficult for established robotic companies to keep up with the latest trends and technologies. Astute Analytica’s analysis of the competitive landscape shows that the leading vendors are ABB Limited, Fanuc Corporation, Mitsubishi Electric Corporation and Yaskawa Electric Corporation among others.

Top 10 players in the market held over 36% revenue share as they offer a comprehensive range of products and services. The report also provides an overview of the major trends affecting the industrial robots industry. These include the increasing adoption of collaborative robots, the growing demand for cloud-based solutions, and the rising popularity of artificial intelligence (AI) and machine learning technologies. In order to sustain the intensifying industrial robotics market, market players adopting various growth strategies.

  • Boston Dynamics was acquired by Hyundai Motor Group for $1.1 billion in June 2021,
  • Embark Trucks: While not strictly an industrial robot, Embark Trucks is developing autonomous trucking technology that uses robotics and AI to improve safety and efficiency in the logistics industry. It raised $75 million in a funding round led by Tiger Global Management in June 2021.
  • Locus Robotics: The startup provides autonomous mobile robots for warehouse fulfillment. It raised $150 million in a funding round led by Tiger Global Management in September 2021.
  • Righthand Robotics raised $23 million in a funding round led by Menlo Ventures in 2020.
  • GreyOrange: This startup provides AI-powered robots for warehouse automation. It raised $140 million in funding in 2019 from investors including Mithril Capital and Blume Ventures.
  • Sarcos Robotics: This startup develops exoskeletons and other robotics systems for industrial and military applications in the global industrial robotics market. It raised $40 million in a funding round led by Rotor Capital in October 2020.
  • Berkshire Grey: The startup provides intelligent robotic systems for order fulfillment and supply chain optimization. It raised $263 million in a SPAC merger with Revolution Acceleration Acquisition Corp in Jan 2020.

Some of the Top Market Players Are:

  • ABB Limited
  • DAIHEN Corporation
  • Denso Corporation
  • Epson America Incorporated
  • Fanuc Corporation
  • Kawasaki Heavy Industries Limited
  • Kobe Steel, Limited
  • Kuka AG
  • Mitsubishi Electric Corporation
  • Yaskawa Electric Corporation
  • Other Prominent Players