RF Components Market Size Worth $45.05 Billion By 2025

The global radio frequency components market size is expected to reach USD 45.05 billion by 2025 registering a CAGR of 14%, according to a new study by Grand View Research, Inc. High demand for devices capable of establishing direct wireless connectivity with the internet, including smartphones, tablets, smartwatch, drones, smart television, and smart homes devices is anticipated to drive the market over the forecast period. Technological evolution in the field of wireless communication and developments in materials used for manufacturing RF components, such as Gallium Arsenide (GaAs) and Silicon Germanium (SiGe), is also expected to augment market growth.

These materials allow the integration of digital and analog electronics into a single chip, thus lowering the cost of the components manufactured. These components find applications in several industries including military, automotive, and consumer electronics. The consumer electronics application segment is estimated to witness substantial growth in coming years owing to increasing consumer spending on electronic devices, such as tablets, personal computers, laptops, and smartphones, as a result of rising disposable income levels. Moreover, the development of innovative RF technologies offer products with a dynamic power range, higher frequencies, and lower noise parameters, enabling design of next-generation electronic components. Increasing popularity and adoption of high-speed networks, such as 4G and 5G, have significantly impacted the product demand.

According to the International Telecommunication Union (ITU), the global mobile cellular telephone subscriptions gradually rose from 7,181 million in 2015 to 8,160 million in 2018. Moreover, the number of internet users stood at 3,170 million globally in 2015, which further increased to 3,896 million in 2018. The trend, showing a steady rise in the number of subscribers of internet andmobile cellular telephone across the globe, is likely to have a positive impact on the growth prospects of the market in near future. Escalating demand for wireless communication solutions, including 5G, to enable wider channel bandwidths and greater data capacity than current or previous generation networks has resulted in the increased need for advanced RF solutions, such as switches, integrated modules, phase shifters, and other high-performance RF solutions.

Furthermore, operating frequency of 5G ranges from 24 GHz to 95 GHz, providing high-data-rate wireless connections, such as 4K/8K ultra High-Definition (HD) TV streaming. Due to this, there is an increased demand for RF components in wireless devices to offer greater coverage area and reduced latency of 5G networks. On the other hand, rise in the prices of raw materials is expected to negatively hamper the market growth. Based on competitive dynamics, the vendor landscape of the RF components market is highly fragmented in nature, resulting in intense competition by key companies and causing variation in price margins. Prominent companies in the market include Taiwan Semiconductor Manufacturing Co. Ltd.; Texas Instruments, Inc.; Renesas Electronics Corp.; and NXP Semiconductors N.V.

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https://www.grandviewresearch.com/industry-analysis/radio-frequency-rf-components-market

Further key findings from the report suggest:

  • The power amplifiers product segment accounted for over 30% of the overall share in 2018 and will expand further over the forecast period due to increased demand for 4G handsets
  • Filters segment is also likely to grow significantly due to wide usage of mobile computing devices and need to support various network spectrums for efficient coordination of wireless communication devices
  • Consumer electronics application accounted over 60% of the overall share in 2018 and will attain a substantial growth from 2019 to 2025
  • Increased consumer spending on smartphones, tablets, smart homes, and several other portable electronic devices is anticipated to be the key factor driving the consumer electronics segment
  • North America accounted for around 28% of the global revenue in 2018. High demand for better mobility solutions is anticipated to drive the regional market further
  • Asia Pacific is expected to be the fastest-growing RF components market from 2019 to 2025 due to increasing adoption of improved connectivity solutions and growing number of internet users in the region
  • Key companies in this industry include Aixtron SE, NXP Semiconductors; Avago Technologies Ltd.; RF Axis; Texas Instruments, Inc.; STMicroelectronics Fujitsu Ltd.; Freescale Semiconductor, Inc.; and Renesas Electronics Corporation
  • Industry participants compete on the basis of development of efficient components that offer faster access to high performance, mobile data, cost effectiveness, and flexibility to support the corresponding solution

Automotive lighting market to grow at 12.0% CAGR from 2015 to 2022

The automotive lighting market is anticipated to reach USD 34.65 billion by 2022. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market. 

Increasing apprehensions about using energy-efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry is expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques. 

THE Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry. 

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http://www.grandviewresearch.com/industry-analysis/automotive-lighting-market

The increase in demand for eco-friendly LED technologies on account of high efficiency, reduced CO2 levels, and high power, is expected to propel growth. Companies have been trying to develop eco-friendly LEDs to promote product differentiation and strengthen their global foothold. LEDs are used in daytime running lights (DRL), parking light, brake lights, and turning lights. LEDs are preferred over xenon and halogen lights owing to optimum light-bearing capacities and improved design, which lead to increased shelf life. 

The adaptive headlight is an active safety feature that is intended to enhance the drivers’ visibility in poorly illuminated areas. It encompasses functionalities including automatic rotation which can sync with sensors and adjust brightness and intensity of light. The front lighting segment accounted for over 70.0% of the total revenue in 2014 owing to the availability of advanced features including automatic rotation which can sync with automatic brightness modules and sensor response. Extreme climatic conditions in Europe and North America are expected to trigger demand for fog lights over the forecast period. 

The automotive lighting industry in Asia Pacific is estimated to grow at a CAGR of over 8.0% and acquire a market share of about 45.0% over the forecast period. The continuous expansion of suppliers coupled with a vast production base is expected to position this region as the market leader. Countries including India, Japan, and China account for the major production base for vehicles globally, thus offering extensive growth opportunities. 

Key companies including Hella KGaA Hueck & Co., Koito Manufacturing Co., Magneti Marelli S.p.A and Valeo. Vendors usually employ the strategy of new product development and mergers & acquisitions to enter new markets. The introduction of low-cost LEDs and energy-efficient alternatives is foreseen as a cost-effective strategy for the industry.

Soft Tissue Repair Market Worth $10.73 Billion By 2025

The global soft tissue repair market size is expected to reach USD 10.73 billion by 2025, expanding at a CAGR of 7.3%, according to a new report by Grand View Research, Inc. A growing number of trauma patients and orthopedic surgeries is one of the key factors expected to drive revenue growth in the coming few years.

Soft tissue comprises of muscles, ligaments, tendons, fibrous tissue, skin, synovial membranes, nerves, and others which protect organs, enable movement and support bones in the body. Injury to the soft tissues can cause severe pain and also may stop the movement of the bones, which if left untreated can lead to chronic pain. Over the long-term, injuries hamper the everyday life of the patients as it becomes difficult to work, socialize, or even move. Most of the injuries are caused because of sprain, the trauma of strain on the muscles. Soft tissue repair surgery comprises of procedures wherein devices like grafts, sutures, anchors, and other devices are used to remodel, reshape, or fix the damaged parts to restore its functionality. With the growing number of related injuries, the products used in repair surgeries are expected to witness exponential demand over the forecast period.

Factors influencing soft tissue repair market growth are the growing number of patients suffering from sports-related injuries. Sprains, contusions, strains, tendinitis, and bursitis are some common injuries, that are suffered by athletes. Growing awareness about the impact of these injuries on athletes’ performance and awareness regarding available treatment options for soft tissue repair are expected to promote revenue growth of the market. The ageing population is another significant factor promoting revenue growth. Old people are more susceptible to fractures and trauma associated injury and often require joint replacement and reconstruction surgeries. According to a United Nations report in 2015, the population of people aged 60 years and above is projected to grow by 56% and is expected to reach 1.4 billion by 2030. This in turn is expected to bolster the patient pool for joint replacement and soft tissue repair surgeries and in turn propel revenue growth of the market over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/soft-tissue-repair-market

Further Key Findings From the Report Suggest:

  • The global soft tissue repair market size was estimated at USD 5.73 billion in 2016 and is expected to grow at a CAGR of 7.3% from 2017 to 2025
  • Fixation products emerged as the largest product type segment in 2016 and is estimated to generate revenue of over USD 6.15 billion by 2025
  • Orthopedic surgery segment was estimated at USD 1.47 billion in 2016 and is anticipated to witness the fastest growth over the forecast period
  • The Asia Pacific region is projected to witness substantial growth over the next decade owing to various developments across major economies in the region. This regional market is expected to grow at a CAGR of 7.7% from 2017 to 2025
  • Some of the key players including Stryker Corporation; Arthrex, Inc.; C.R.Bard, Inc., Integra LifeScience Corporation, Smith & Nephew plc. and Depuy Synthes

Cardiac Resynchronization Therapy Market Worth $9.2 Billion By 2025

The global cardiac resynchronization therapy (CRT) market is expected to reach USD 9.2 billion by 2025, according to a new report by Grand View Research, Inc. The increasing prevalence of cardiac disorders and rising incidences of heart failure are expected to boost the CRT market growth over the forecast period.

According to statistics published by the Sudden Cardiac Arrest Foundation in 2016, about 6.0 million people within the U.S. region suffer from cardiac disorders, of which 0.8 million are affected by atrioventricular block leading to cardiac failure. Such a huge number leads to an increased cost of about USD 20.0-56.0 billion annually. CRT devices are being predominantly used to prevent the surgical cost and readmission rate in hospitals, thereby propelling its growth.

In addition, the on-going research to develop smaller, wireless/leadless and long-lasting CRT devices is expected to be a vital impact rendering driver. For instance, in September 2016, EBR Systems Inc. announced that it had attained the FDA Investigational Device Exemption (IDE) consent for its Wireless Stimulation Endocardially (WiSE) technology in the U.S.

This technology is capable of stimulating the left ventricle internally leading to superior performance in comparison to devices with pacing systems placed near the collar bone. The study is expected to be started by mid-2017 with complete support by the FDA in terms of regulatory compliance, and financial aid.

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https://www.grandviewresearch.com/industry-analysis/cardiac-resynchronization-therapy-devices-market

Further key findings from the study suggest:

  • CRT-D products are expected to dominate over the forecast period. According to a paper published in the Journal of Cardiovascular Electrophysiology, more than half of the CRT product implants are done using CRT-D.
  • Asia Pacific and Latin American regions are expected to witness lucrative growth and contribute over 30.0% of the revenue in 2025. This has been attributed to the rapid expansion of industry players within these regions in terms of manufacturing as well as distribution.
  • Competitive pricing and necessity for high operational optimization are expected to help companies strengthen their foothold in growing economies such as India, Mexico, and others.
  • Additionally, countries such as Japan are also observed to register a high adoption rate for quadripolar lead-based CRT-D devices. This is expected to further boost the market growth.
  • Major market players of the industry are Medtronic Plc., BIOTRONIK, LivaNova Plc., St. Jude Medical, and Boston Scientific. However, a more assorted marketplace exists for vendors of leads (wireless and wired) that are used in the system.

Allergy Diagnostics & Therapeutics Market Worth $51.95 Billion By 2026

The global allergy diagnostics and therapeutics market size is expected to reach USD 51.95 billion by 2026 registering a CAGR of 6.3%, according to a new study by Grand View Research, Inc. Increasing prevalence of allergic conditions coupled with adoption of immunoassay as diagnostic test is expected to serve this market with lucrative growth opportunities. According to the report published by the World Allergy Journal in May 2014, around 300 million cases of asthma and 200 to 250 million cases of food allergies were reported. This number is expected to increase over the forecast period due to sedentary lifestyle and poor dietary habits.

Rising industrial pollution, rapid urbanization in developing countries, and increasing Greenhouse Gas (GHG) concentrations are expected to result in increased prevalence of pollen induced respiratory disorder, thereby boosting the overall market growth over the forecast period. Emergence of technologically advanced products, such as MeDALL allergen-chip for allergy determination, is further expected to propel the market growth in the years to come.

The global market is highly competitive and is led by companies including Thermo Fisher Scientific, Omega Diagnostics, Siemens Healthcare, Stallergenes Greer, Lincoln Diagnostics, bioMerieux, HOB Biotech Group, Alcon Laboratories, Hycor Biomedical, and Hitachi Chemical Diagnostics. Most of the industry participants focus on the development of advanced products and technologies to gain competitive advantage. For instance, in March 2015, Stallergenes received approval for STG 320 in Japan, which is the first sublingual immunotherapy tablet used in the treatment of house dust mite allergy.

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https://www.grandviewresearch.com/industry-analysis/allergy-diagnostic-market

Further key findings from the study suggest:

  • Instruments product segment is anticipated to witness the highest CAGR of 12.2% from 2019 to 2025 due to high demand for analyzers and laminators for allergy diagnostics
  • In vitro is expected to be the largest as well as fastest-growing test segment over the estimated period on account of rising demand for minimally invasive and allergen-specific tests
  • Antihistamines drug class led the allergy diagnostics and therapeutics market in 2018 due to its advantages, such as non sedating nature and minimum side effects with use of second generation antihistamines in allergy treatment
  • Immunotherapy vaccines is expected to register the maximum CAGR from 2019 to 2025 owing to extensive R&D in the field and advent of sublingual immunotherapy tablets in the treatment of allergic rhinitis
  • For instance, in April 2014, the U.S. FDA approved a five-grass pollen sublingual tablet (Ex-Oralair) by Stallergenes, which is used in the treatment of pollen allergy

Life Sciences BPO Market Size To Reach $420 Billion By 2024

The life sciences BPO market is expected to reach USD 420 billion by 2024, according to a new report by Grand View Research, Inc. The lucrative growth is attributed to the growing demand for contract manufacturing of raw materials, Finished Dosage Forms (FDFs), medical devices, drug discovery services, regulatory services, pre-clinical and clinical trial services, and pharmacovigilance services. 

The pharmaceutical and biotech industry invests heavily in the R&D sector to continuously introduce new molecules, devices, and treatments. The different stages of the drug development such as drug discovery, pre-clinical studies, and clinical trials require huge financial, technological, and human resources. 

In order to cater to the growing needs of the industry, the outsourcing vendors are expanding their product and service offerings and they are targeting niche areas for long-term growth and profitability; altogether these trends are expected to boost the life sciences outsourcing market over the forecast period. 

Favorable government initiatives such as the introduction of ICD-10 standards, the increasing adoption of Electronic Health Record systems (EHR), and digital health platforms are enabling the rapid growth of the back-end payer and provider BPO services, such as claims management, claims processing, financial and pay roll management, and other administrative services. 

The rising geriatric population coupled with the growing prevalence of various chronic diseases is increasing the burden on the healthcare system and also driving the need for new drugs, and devices, which in turn is expected to boost the contract manufacturing and contract research services over the next nine years. 

Moreover, the contract sales and marketing services segments are also expected to witness an increase in demand due to the growing sales and marketing activities for the new product launches over the forecast period.  

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http://www.grandviewresearch.com/industry-analysis/life-science-bpo-market

Further key findings from the study suggest:

  • In 2015, the pharmaceutical outsourcing segment accounted for the largest revenue share, mainly on account of the growing demand for API and finished dosage form manufacturing services. Moreover, the increasing demand for early stage pre-clinical studies, clinical trials, post-marketing surveillance, and regulatory services are also expected to further drive the market over the forecast period.
  • The services segment including healthcare payer and provider BPO services is expected to emerge as the fastest growing services type with a CAGR of 9.3% over the forecast period
  • In the medical devices contract research outsourcing segment, the product design and development category accounted for nearly 29% in 2015. By 2024, the product implementation services are expected to emerge as the fastest growing category with a CAGR of 13.1% from 2016 to 2024.
  • North America was the largest regional market in 2015. The presence of several major pharmaceuticals, medical device, health insurance, contract research and contract manufacturing (CRAMS) players in this region are amongst the key factors responsible for the region’s large market share. The increasing geriatric population, the growing disease prevalence rates, the shift from ICD 9 to ICD 10 codes are significantly driving the healthcare expenditures and the need for efficient data management, as well as operational costs; therefore, these factors are expected to positively reinforce the life sciences outsourcing market over the forecast period.
  • Asia Pacific is expected to grow at a CAGR of11% over the forecast period. The increase in the number of U.S. FDA manufacturing sites in this region, especially China and India, the growing healthcare burden, patent expiration of several key drugs are expected to significantly boost the life sciences outsourcing market in this region.
  • Furthermore, favorable government initiatives to encourage the use of generic drugs, subsidies for the manufacturing of electronic components and devices, and several tax benefits to promote the export of life sciences services from this region are anticipated to further propel the market growth over the forecast period.
  • Some key market players include Infosys Limited, Lonza Group, PAREXEL International Corporation, Covance, Inc., International Business Machines Corporation. Genpact Limited, Catalent, Inc., ICON plc, Boehringer Ingelheim GmbH, Accenture plc, Quintiles Transnational Corporation, and Anthelio Healthcare Solutions 

Automotive Relay Market Worth $19.5 Billion By 2025

The global automotive relay market size is anticipated to reach USD 19.5 billion by 2025, at a registering a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing vehicular safety regulations in various regions across the globe is driving the automotive relay market. Further, increasing adoption of electric vehicles amongst passenger car segment end users has made automotive electronics including the automotive relay industry to gain significant market share.

Systems such as advanced driver assistance systems (ADAS), electronic stability control, electronic steering systems, brake-by-wire systems, and airbags are gaining momentum across the globe, owing to their safety and comfort benefits. Strict safety guidelines employ substantial pressure on Tier-1 suppliers and the OEMs to design improved safety systems for automobiles. According to General Safety Regulation (EC) No 661/2009 of Europe, from 1 November 2014, several new safety features have been made obligatory for light trucks, heavy commercial vehicles, and new passenger cars. Furthermore, there is a growing demand for enhanced comfort and convenience in automobiles.

Many governments provide lucrative offers to promote the selling and usage of Electric Vehicles EVs. Tax benefits are provided at the time of purchase. However, the extent of the exemption depends on the size of the batteries used in the vehicle. In the United States, insurance companies provide discounts on insurance policies to customers, and utility companies are offering low electricity rates. Also, few states offer credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment. Many European countries follow incentive-based programs for promoting EVs. Countries, like Germany and Austria, offer tax exemptions and reductions.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/automotive-relay-market

Further key findings from the report suggest:

  • The increasing vehicular safety norms across the globe and the growing adoption of electric passenger car vehicles amongst end-users are expected to drive the market.
  • Electric automotive parts have diversified over the past decade, leading to an increase in the number of relays used as switching devices as well as variation in the required features of each relay
  • Asia Pacific is a key revenue-generating region and captured a significant market share in 2016. The region exhibits a high growth potential, which may be attributed to high vehicle demand in this region.
  • The key players in the market include ABB Group, Denso Corporation, Eaton Corporation plc, Fujitsu Limited, Hella KGaA Hueck & Co. (HELLA).

C-RAN Market Size Worth $43.35 Billion By 2027

The global C-RAN market size is expected to reach USD 43.35 billion by 2027, expanding at a CAGR of 22.7% over the forecast period, according to a study conducted by Grand View Research, Inc. Rapid technological advancements in optical and wireless communication systems is expected to drive the growth. Furthermore, multiple benefits such as reduced energy consumption, simplification of network management and operation, the lower total cost of ownership, enhance the efficiency of the spectrum, pooling of resources, and reuse of infrastructure have led to the cloud radio access network market witnessing an increased demand.

The growing network congestion owing to limited spectrum availability and the smart devices usage has compelled the demand for enhanced network architectures, such as cloud-RAN. The mobile operators are facing the challenge, as technology trend in the wireless networking industry is shifting from the current 3G wireless mobile communication technology to more advanced 4G technologies, such as LTE and LTE-A. This change has increased the cost of implementation, as in most scenarios, large network providers have been obliged to support multi-standard networks.

The rapid rise in the deployment of 5G will further increase the burden on the currently available operation model and infrastructure. The cloud-RAN architecture uses the small-cell model and has been recognized as a favorable methodology to address the 5G standards. It is an innovative architecture, which can solve different challenges that the mobile operators face while trying to support the growing needs of end users, then it is appreciated as a major technological basis for 5G network. The increasing activities to test 5G networks across countries, including South Korea, China, Japan, and U.S. is estimated to drive the market growth from 2020 to 2027.

Asia Pacific dominated the cloud radio access network market in 2019 and is projected to continue its dominance over the forecast period. The growth can be attributed to the initiatives taken by the network operators and governments across countries, such as Japan, South Korea, and China to roll out 5G deployment in the next five years.

The market for C-RAN is predominantly consolidated in nature with presence of several key participants dominating at global level. Some of the key players include Cisco Systems, Inc.; Nokia; SAMSUNG; Huawei Technologies Co., Ltd.; Telefonaktiebolaget LM Ericsson; ZTE Corporation; Intel Corporation; NEC Corporation; and Altiostar.

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https://www.grandviewresearch.com/industry-analysis/cloud-ran-market

Further key findings from the study suggest:

  • Centralized RAN segment is expected to dominate the market and is expected to reach USD 38.17 billion by 2027, owing to technological advancements offered for optical, wireless, and IT communication systems
  • Based on component, the infrastructure segment acquired the dominant market share of 51.30% in 2019 and is anticipated to continue leading over the forecast period, owing to rapid adoption of radio technology and architecture to meet 5G requirement
  • LTE and 5G segment held the largest share of the C-RAN market 94.11% in 2019 and is estimated to witness growth over the forecast period, as a result of the operators seeking for better alternative techniques and architecture, which can help reduce energy cost, provide better coverage, agile network traffic management as well as time-high-throughput
  • Based on deployment, the outdoor segment dominated the market in 2019 and is expected to reach USD 35.30 billion by 2027. The major deployment of C-RAN architecture by the mobile operator at the outdoor environment provides better coverage in areas, such as urban market, stadiums, and others
  • Asia Pacific is expected to be the largest regional market over the forecast period, owing to the factors such as growing deployment of C-RAN architecture as an initiative to commercialize of 5G in countries such as China, Japan, and South Korea
  • Prominent market participants include Altiostar; ASOCS Ltd; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; FUJITSU; Huawei Technologies Co., Ltd; NEC Corporation; Samsung Electronics Co Ltd.; Nokia Corporation; and ZTE Corporation

Automotive Wiring Harness Market Size Worth $77.15 Billion by 2025

The global automotive wiring harness market size is expected to reach USD 77.15 billion by 2025 at a 6.2% CAGR during the forecast period, according to a study conducted by Grand View Research, Inc. Rising integration of electronic devices in vehicles has positively affected demand for automotive wiring harnesses. Embedding wiring harness in a vehicle provides numerous benefits such as low probability of electrical shortage, improved fuel efficiency, and enhanced performance. Moreover, employing technologically advanced systems such as infotainment systems and advanced driver assistance systems in vehicles is expected to drive demand over the forecast period.

Increasing adoption of electric vehicles (EVs) in developing regions is also anticipated to drive the automotive wiring harness market as the number of electronic components used in EVs is significantly higher than that in conventional automobiles. Increasing tax benefits and incentives by governments across the globe is also propelling demand for EVs, consequently driving the sales of wiring harnesses.

Demand for automotive wiring harness is directly proportional to increase in vehicle production. Thus, increasing levels of disposable income across developed economies, particularly emerging economies such as India, Brazil, and China, are driving the automotive manufacturing industry, which, in turn, is expected to trigger the growth of the wiring harness industry.

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https://www.grandviewresearch.com/industry-analysis/automotive-wiring-harness-market

Further key findings from the report suggest:

  • Based on component, the terminals segment is projected to witness the fastest growth over the forecast period, primarily driven by development of advanced technologies in the automotive field, including driver assistance systems and safety features
  • By application, the chassis segment accounted for approximately 30% of the overall revenue in 2017 as they are used in various vehicle components such as headlamps, fog lamps, and turn indicators
  • Demand for battery electric vehicles (BEVs) is driven by increase in fossil fuel prices, enforcement of emission laws, and anticipated expansion of charging infrastructure worldwide, all of which is slated to drive the segment by EV
  • By vehicle type, the light vehicle segment is anticipated to witness the highest CAGR, which is ascribed to increasing production of passenger cars in emerging markets
  • Asia Pacific leads the worldwide market in terms of automotive production and is anticipated to register significant growth over the forecast period. Rising demand for enhanced safety and convenience features in mid-segment vehicles, coupled with availability of low-cost labor, is spurring sales
  • Major industry players include Aptiv PLC, Sumitomo Electric Industries, Ltd., Yazaki Corporation, and Leoni AG. Recycling components to attain raw materials and ability to optimize costs through low-cost labor country sourcing are expected to emerge as key success factors for manufacturers in this industry.

Cyber Security Market Size Worth $326.4 Billion By 2027

The global cyber security market size is expected to reach USD 326.4 billion by 2027, registering a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. The rising number of cyber-attacks across networks, applications, and endpoints severely impact organizations in terms of both losses of sensitive data and costs associated with it. Moreover, the increased usage of Internet of Things (IoT), cloud computing environment for improved data sharing and storage, and the rising trend towards the digital business transformation expose cases of cyber espionage, phishing, and other security incident breaches. The magnitude of such sophisticated cyber threats is compelling every industry and businesses to secure their networks, protect their data, and enhance their systems to detect threats in advance.

The cyber threat landscape is continuously evolving with the advancement in technologies such as blockchain technologies, online payment transaction models, digital file-sharing platforms, and digital collaboration and marketing tools. Such technologies increase the potential risk factors for cybersecurity threats. This is due to the influx of the high volume of user traffic that shares sensitive data such as transaction information, demographics, and psychographic information across the web. According to Verizon’s Data Breach Investigations Report published in 2020, 86% of the overall breaches were financially motivated, and 22% of the overall breaches involved phishing. On the other hand, 37% of the overall breaches involved were of stolen or used credentials. With rising cases of data breaches, cybersecurity vendors are increasingly investing in analytics, data science models, and predictive machine learning technologies to detect, block and quarantine device vulnerabilities at real-time.

The increasing malware attacks, cybercrimes, and online threats across public and private organizations have increased emphasis on data protection, privacy, and compliance. Governments and regulators are setting new rules and standards for the enterprises to adhere to industry risk and compliance regulations such as the GDPR, the California Consumer Privacy Act, the HIPPA, and the Electronic Communications Privacy Act on account of data privacy and protection. Companies failing to adhere to such obligations can potentially face hefty fines and penalties, as well as the risks of tarnishing their reputation. Additionally, regulators and government authorities are also actively collaborating with cyber security vendors to implement safety standards and data protection guidelines. For instance, in January 2020, the Dubai Financial Services Authority in collaboration with Palo Alto Networks, Kaspersky, Cofense, and Dubai Electronic Security Center, and Computer Incident Response Centre Luxembourg set up a special platform to help financial services combat the rising risks of cyber threats.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cyber-security-market

Further key findings from the report suggest:

  • The services segment accounted for the largest market share in 2019, owing to the growth in managed security services that help delivering security protection as security-as-a-service model
  • The infrastructure protection segment growth can be attributed to the increasing cyber breaches in physical infrastructures and the need to protect IT networks
  • Large enterprise segment is expected to account for the largest revenue of USD 219.29 billion by 2027 owing to the presence of increased cloud computing network infrastructures, IoT endpoints, and the need to comply industry standards.
  • The Healthcare industry vertical is expected to emerge as the fastest-growing segment over the forecast period.
  • The North American regional market accounted for the largest revenue share in 2019 and is anticipated to dominate the market over the forecast period.