power and energy

 The International Energy Agency (IEA) estimates that global battery electric vehicle (BEV) (cars) sales and plug-in hybrid electric vehicle (PHEV) (cars) sales surged from 1,542,867 units in 2019 to 2,008,024 units in 2020 and 570,724 units in 2019 to 969,034 units in 2020, respectively. Further, the International Organization of Motor Vehicle Manufacturers (OICA) states that 77,621,582 vehicles were manufactured and 77,971,234 automobiles were sold around the world in 2020. Therefore, the burgeoning electric vehicle (EV) and motor vehicle sales will create an extensive requirement for position sensors, globally. Additionally, the expanding packaging sector, especially in India and China, will help the position sensor market progress at a CAGR of 7.7% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue stood at $9.1 billion in 2018 and it will reach $14.2 billion by 2024. Packaging companies use these instruments in packaging machinery to ...

 The increasing adoption of blockchain solutions in numerous industries for strengthening the day-to-day operations and enhancing security is one of the biggest factors propelling the demand for blockchain devices across the world. Since the last few years, there has been a huge surge in the adoption of blockchain technology in the banking, financial services, and insurance (BFSI) sector, on account of the increasing prevalence of financial frauds and transfer errors. Currently, more than 25% of the BFSI companies across the world are using this technology and this number is expected to rise considerably in future.  The burgeoning demand for cryptocurrencies is another major factor contributing toward the increasing demand for blockchain devices throughout the world. A cryptocurrency is basically a type of digital currency which is not regulated by any authority. Cryptocurrencies started becoming popular after the launch of Bitcoin in 2017 and this popularity is expected to so...

 Heat stress monitors are being increasingly deployed in manufacturing facilities to track the health of workers being exposed to heated conditions. To ensure the health of workers, ministries/departments of labor of the U.S., Saudi Arabia, the U.K., India, Germany, Japan, Australia, and South Korea have set stringent guidelines regarding heat stress management at workplaces. For instance, the Occupational Safety and Health Administration (OSHA) has set workplace safety standards and drafted workplace monitoring regulations to protect employees from being exposed to hazardous environments. Additionally, the rising application of heat stress monitors in military and sports sectors to monitor the health of sportspersons and military personnel in real-time will fuel the heat stress monitor market at a CAGR of 2.7% during 2020–2030. According to P&S Intelligence, the market was valued at $51.4 million in 2019, and it is expected to reach $62.5 million revenue by 2030. Intense train...

 Smart water, gas, and electricity meters facilitate a bidirectional flow of information, owing to which they are being increasingly deployed on the premises of end users. These meters use a local area network (LAN) to gather data regarding the utility consumption of all appliances at frequent intervals. The information collected from individual smart meters is accumulated by local data aggregators, using neighborhood area networks (NANs). The data collected during this phase is then transmitted to the utility center through a wide area network (WAN). On the other hand, the utilities can send commands, information, or other signals to the meter installed at the end user’s premises and even remotely connect or disconnect the resource supply. This feature will help the smart meters market grow at a CAGR of 4.9% during the forecast period (2020–2030). Additionally, a surging number of government policies supporting their installation will help their sales value grow from $13.1 billion...

  The Asia-Pacific (APAC) region is witnessing a surge in the installation of internet of things (IoT)-enabled emergency lights, as the technology makes it easy for private and public organizations to preserve more energy via smart lighting systems. IoT allows lighting solutions to adapt to environmental conditions, such as rain and fog, thereby, ensuring adequate illumination according to the requirement and maximizing energy consumption. Furthermore, the integration of IoT helps in testing and monitoring all emergency lights from any location at any time.  These technological advancements along with stringent guidelines by governments pertaining to safety in numerous establishments will drive the APAC emergency lighting market at 10.1% CAGR during 2019–2024. The market generated revenue of $1.2 billion in 2018, which is expected to reach $2.1 billion by 2024. For instance, safety norms in India state that restaurants, schools, offices, and shopping malls should have emergenc...

  The rapid expansion in the construction sector is one of the primary factors responsible for the mushrooming demand for compressors in China. Because of the rising urbanization and the soaring population, the construction sector is expanding rapidly. Moreover, with the launch of several construction projects, the demand for highly energy-efficient heating, ventilation, and air-conditioning (HVAC) equipment is growing rapidly. The changing lifestyles of people and the rising average temperatures are also fueling the sales of HVAC systems in the country. As per the Council on Tall Buildings and Urban Habitat, there are numerous skyscrapers in China. There are currently as many as 88 skyscrapers in the country. This is pushing up the requirement for HVAC systems, which is, in turn, propelling the demand for compressors in the country. Furthermore, the hotel industry in the country is recording nearly 2,481 hotel projects that are currently in pipeline and is growing with a year-on-...

  As per reports, in 2021, there are already 10 billion internet of things (IoT) devices active around the world, and by 2030, this number is set to cross 25 billion! Essentially, any electrical or electronic product that is integrated with sensors to capture a variety of data and an internet connection to share that data with another such device or a central control room is termed as an IoT device. In many applications, such as smart buildings and factory machines, the IoT devices need to be small. Thus, electronics companies are shifting away from conventional semiconductor manufacturing to the system-on-chip (SOC) arrangement, in which the sensor, processor, electronic circuitry, and memory are embedded into one small chip. Considering the rapid miniaturization of IoT devices with the help of the SOC technology, P&S Intelligence expects the silicon on insulator (SOI) market revenue to reach $2,285.5 million by 2024, growing from $684.8 million in 2018 at a 22.7% CAGR between...

  Factors such as the spurring demand for collaborative modular robotic systems, or cobots, from the logistics industry and escalating need for automation in the manufacturing sector will fuel the modular robotics market growth at a CAGR of 9.9% during the forecast period (2020–2030). These factors are expected to increase the revenue of the market from $5.6 billion in 2019 to $15.1 billion by 2030. Moreover, the increasing application of the industrial internet of things (IIoT) is the key manufacturing trend, due to the ability of this technology to reduce operational costs and enhance productivity. The application of cobots has redefined the relationship between humans and robots across the manufacturing and logistics industries. These robots are used in the logistics industry to carry and transport loads and inspect fragile items. While working with cobots, the operator provides the parts to the robot directly, to perform the pending task, thus leading to a reduction in cost, ti...

  The World Bank estimates that the population of women aged 65 years and above in Japan and Germany increased from 19,949,469 in 2019 to 20,150,701 in 2020 and 10,065,399 in 2019 to 10,132,696 in 2020, respectively. It also states that the number of men aged 65 years above in Germany and Japan surged from 7,851,701 in 2019 to 7,920,048 in 2020 and 15,407,952 in 2019 to 15,583,297 in 2020, respectively. The rising geriatric population, especially in developed countries, will, therefore, facilitate the adoption of personal robots in the forthcoming years.  In addition, the burgeoning demand for mobile robots and the reducing prices of robotic systems will drive the personal robots market at a CAGR of 7.8% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $21.5 billion in 2019, and it will reach $51.5 billion by 2030. This growth can also be credited to the booming demand for home automation and the surging public awareness re...

 The global microdisplay market was valued at $1,145.6 million in 2020, and it is predicted to progress at a CAGR of 17.1% from 2020 to 2030. The major factors driving the expansion of the market are the growing use of heads-up display (HUD)-integrated advanced driver assistance systems (ADAS), owing to the rising incidence of road accidents, especially in China, the U.S., and Japan, and surging number of near-to-eye (NTE) applications.  According to the Federal Motor Carrier Safety Administration (FMCSA), the U.S. launched a project to facilitate the use of ADAS in the trucking industry in 2019 due to the ability of ADAS to mitigate the prevalence of road crashes, injuries, and fatalities. The government allocating $0.65 million to the project, which is predicted to be completed by the end of 2021. Besides, the burgeoning need for microdisplays in NTE applications is also driving the microdisplay market. These screens are being increasingly adopted in NTE devices, such as per...

  Due to the rising requirement for ultrasonic sensors in the manufacturing industry and the growing usage of these sensors in vehicles, the sales of these sensors are predicted to rise steeply in the coming years. This will, in turn, cause the surge of the global ultrasonic sensor market in the near future. The market is expected to grow, in value, from $4.1 billion to $12.1 billion from 2019 to 2030, exhibiting a CAGR of 10.2% between 2020 and 2030. The ballooning usage of ultrasonic sensors in manufacturing industries is a major factor fueling the advancement of the market. In these industries, these sensors are used for a plethora of applications such as the measurement of tank water level, diameter measurement of roll, height measurement, loop control, and distance measurement. The utilization of these sensors would rise enormously in the developing nations in the future years, because of the increasing industrial production in these countries. Browse detailed - Ultrasonic Sen...

 The image sensors market stood at $15,934.8 million in 2017, and it is expected to generate more than $23,200.0 million by 2023. The market is advancing at a CAGR of 6.2% during 2018–2023 (forecast period). The growth is driven by the increasing application of image-sensing devices in biometrics, growing demand for dual-camera mobile phones, and advancements in low-power and compact image sensors based on the complementary metal-oxide-semiconductor (CMOS) technology. The major demand for imaging solutions is generated from the automobile and medical device sectors. The automotive industry is creating a high demand for image sensors for advanced driver-assistance systems (ADAS), to enhance road safety. ADAS encompasses different semiconductor units that include radio detection and ranging (RADAR)- and light detection and ranging (LiDAR)-integrated cameras and sensors, to help drivers in getting images of their surroundings. ADAS also includes the lane departure warning (LDW) system...

  As the production of electric vehicles (EVs) is soaring in the Asia-Pacific (APAC) region, the demand for electric motors is also escalating at a substantial pace. The spike in EV sales is due to the high levels of air pollution in the region, which is why the government of several nations, such as India and China, is offering significant subsidies on EVs to facilitate their adoption. These initiatives will help the APAC electric motor market progress at a CAGR of 6.9% during 2018–2023. According to P&S Intelligence, the value of the market will rise to $77,876.8 million by 2023 from $50,948.1 million in 2017. Moreover, the manufacturing sector in the APAC region is installing a large number of energy-efficient electric motors to reduce the requirement for power, in the face of the increasing pollution levels. Electric motors account for nearly 70% of the total energy consumption in factories, which is why the need to make them energy-efficient is rather strong presently. Com...

  The burgeoning consumption of packaged foods, on account of the booming population, rising urbanization rate, mounting disposable income of people, and flourishing e-commerce sector will augment the adoption of ultraviolet (UV) curing technologies in the food and beverage sector in the coming years. Since UV curing systems are ideal for use in adhesive, printing, and coating applications without compromising the quality and safety of the food products, they are being increasingly deployed in the packaging of food products and beverages. Additionally, the usage of such systems in the food and beverage sector also facilitates the food and beverage production process. Moreover, the surging adoption of the UV light-emitting diode (LED) technology for manufacturing consumer electronic products, such as tablets, TVs, and mobile phones, will drive the UV curing system market at a CAGR of 8.8% during the forecast period (2019–2024). The market revenue stood at $1.4 billion in 2018 and it...

  Factors such as escalating demand for smart glasses and growing adoption of transparent displays in the advertising industry will accelerate the transparent display market at 46.2% CAGR during the forecast period (2019–2024). The market stood at $524.7 million in 2018 and it is set to value $4,933.6 million in 2024. The market is currently observing high adoption of transparent organic light-emitting diode (OLED) displays, as these are more beneficial than liquid crystal display (LCD) displays, due to the fact that they offer better viewing angles and higher image resolution than the latter.  One of the most significant growth drivers is the widescale installation of transparent displays for outdoor advertisements, because they amplify the aesthetic appeal of the advertisements. Businesses are setting up these displays to promote their products through digital signage. The increasing popularity of digital signage can be ascribed to the expansion of the out-of-home (OOH) adve...

  With the advent of 5G network and the increasing adoption of this network in several countries, the demand for 5G radio frequency (RF) transceivers is rising rapidly. The launch of 5G networks in the U.S., the U.K., and China is fueling the installation of 5G RF transceivers in base stations and telecom exchanges. For example, more than 86,000 base stations have been built in 50 Chinese cities since the launch of the 5G network in the country in 2019. Furthermore, in China, the Ministry of Industry and Information Technology announced in April 2020 that it intends to build 500,000 5G base stations in the country in 2020. Similarly, a Swedish telecom firm called Ericsson built base stations in the U.S. in March 2020. These stations would accelerate the deployment of 5G networks in the country. Besides these factors, the increasing adoption of the internet of things (IoT) is also propelling the sales of 5G RF transceivers across the world.  Browse detailed report - 5G RF Trans...

  With the launch of several massive infrastructure development projects, the demand for heating, ventilation, and air conditioning (HVAC) systems is predicted to surge in Saudi Arabia in the coming years. In recent years, the spending in the country’s infrastructure sector has increased massively and this has fueled extensive construction activities in the country. Moreover, there are many ongoing projects of metro railway and various other commercial infrastructure development. Additionally, the country aims to complete the first phase of the NEOM megacity project, which is worth $500 billion, by 2025. Apart from the aforementioned factor, the booming tourism industry is also driving the sales of HVAC systems in Saudi Arabia. Owing to its religious significance, Saudi Arabia welcomes a large number of tourists every year. Thus, in order to cater to the requirements of the tourists, many international hotel chains are bolstering their presence in the country, which is supporting t...