Fire Protection System Market Worth $155.03 Billion By 2027

The global fire protection systems market size is expected to reach USD 155.03 billion by 2027, expanding at a CAGR of 7.5% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing adoption of wireless technology, growing human and property loss owing to fire breakouts, and stringent fire safety regulations are projected to fuel the market growth.

Increasing implementation of building safety codes and renovation projects is also anticipated to be a major factor positively influencing the market growth. The application and usage of the fire protection systems are anticipated to increase continuously with the developments of commercial entities and corporations. Furthermore, technology enhancements such as extinguishing technology based on mist and products such as laser optical/infrared smoke detectors, alarms with embedded voice evacuation announcements, hypoxic air fire suppression systems, and wireless fire alarm systems are expected to gain traction in the market globally. Moreover, in 2020, the market will be hampered due to the COVID-19 outbreak, which has interrupted production, impacted demand, and caused supply chain disruption.

The growing trend of integrating fire alarm and detection systems with building automation systems offers vast growth opportunities to market growth. Connectivity with building automation systems is increasingly becoming a major feature of fire protection systems in commercial, industrial, and residential applications. This can be attributed to the fact that such integration allows for the development of systems that are capable of sharing and gathering data, which can help in alerting individuals about fire safety issues in the premises. A notable rise in investments in smart building automation technologies across several regions is expected to lead to new opportunities for building automation systems in the industrial and commercial sectors.

Consumers in developed regions such as Europe and North America have seen a steady rise in demand over the past few years, and the growth trend is also projected to continue over the next few years. However, a lack of stringent regulations and high cost of advanced fire protection systems has kept the markets in emerging countries largely untapped. Nevertheless, improving economic conditions in countries, including Brazil, and India, are anticipated to boost the demand.

Infrastructural development activities across the Asia Pacific region owing to the rising demand for new transport and utility infrastructure will drive demand. The high rate of urbanization is placing increased pressure on under-invested, weak city infrastructure. The consecutive rise in focus on new residential and infrastructural development projects is expected to propel the demand across this region; thus, such factors fueling market growth.

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https://www.grandviewresearch.com/industry-analysis/fire-protection-systems-market

Further key findings from the report suggest:

Fire detection is expected to dominate the product segment and the trend is expected to continue over the forecast period and is expected to reach USD 71.21 billion by 2027
The maintenance services market is anticipated to witness the fastest growth over the forecast period. The demand for these services is often driven by new building construction activities, modernization activities, and demand for system upgrades
The commercial application segment is expected to dominate over the forecast period. Increasing investment of companies for reducing the loss of property and life, and safeguarding the infrastructure across several applications is also estimated to further propel the demand. The segment is expected to reach USD 71.31 billion by 2027
North America is projected to account for the majority market share over the forecast period. The increasing demand for smart buildings and intelligent houses which deliver optimum safety and security is expected to drive the growth. The region is anticipated to reach USD 46.64 billion by 2027

Education Technology Market Size Worth $285.2 Billion By 2027

The global education technology market size is anticipated to reach USD 285.2 billion by 2027, growing at a CAGR of 18.1% from 2020 to 2027, according to a new report by Grand View Research, Inc. Technology has revolutionized the process of learning. From Massive Open Online Courses (MOOCs) to virtual classrooms, the education technology (EdTech) sector has emerged rapidly, leading to an influx of massive investments worldwide. Countries across the globe are realizing the potential of integrating technology to enhance student learning, enabling education leaders to undertake range of initiatives in integrating EdTech into their education systems, schools, and classrooms.

Developed economies, including U.S., U.K., and Germany, are at the forefront of developing and introducing innovative education technology offerings, supporting education administration, student and community engagement, and reducing teacher workload. On the other hand, emerging economies, such as India, are focusing on utilizing such technologies to provide access to educate their population. As a result, EdTech is anticipated to foresee substantial growth in such economies to educate the rapidly growing population rather than building a well-developed institute.

Technological advancements, such as artificial intelligence (AI), robotics, and augmented reality (AR)/virtual reality (VR), and their integration into learning are anticipated to transform the conventional techniques of teaching. These cross-curricular learning opportunities in the EdTech sector are expected to enable institutes and teachers to streamline resource commitments as well as develop students’ knowledge through practical and cross-curricular applications.

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https://www.grandviewresearch.com/industry-analysis/education-technology-market

Further key findings from the report suggest:

Some of the major higher institutes and educational organizations across North America are increasingly shifting their focus from legacy EdTech education system towards online-based EdTech solutions
Integration of AI in schools and universities to automate activities, such as grading subjects and providing feedback, is anticipated to propel the demand for EdTech offerings
Cloud computing technology is used to store vital resources, such as audio/video lessons, written lessons, and assignments, on a school’s cloud terminal. These resources can be accessed by students as per their convenience
Widespread use of mobile devices and tablets is leading to the use of gamification and immersive learning in educational institutions for an interactive and enhanced learning experience.

Location Based Advertising Market Size Worth $224.40 Billion By 2027

The global location based advertising market size is expected to reach USD 224.40 billion by 2027, expanding at a CAGR of 17.4%, according to a new study conducted by Grand View Research, Inc. Growing digitalization initiatives among brands and advertisers to promote products and services, proliferation of GPS enabled smartphone usage, and increasing usage of social media and e-commerce sites are aiding the growth of the market for Location Based Advertising (LBA). Mobile applications with location based services have formed a direct link between brands and customers enabling high consumer engagement and increased sales. Moreover, technological advancements in network connectivity such as 5G, proliferation of new data sources, and use of analytics to gain consumer insights is likely to impact the market positively over the forecast period.

Augmented Reality (AR) information technology about nearby businesses and services on smartphone screen guide customer or tourist in the city, close-up of hand holding mobile phone, blurred street

As per the recent mobile industry report, in 2020, around 3.5 billion people worldwide were smartphone users, which accounts to about 45% of the world’s population. Similarly, around 49% of the world’s population is active on social media platforms and is anticipated to grow at 8.5% annually. With growing internet, social media, and GPS enabled smartphone penetration, digital advertising has become a significant mode of advertising among marketers. Moreover, prominent players such as Google LLP and Facebook Inc. account for major digital advertisement share of the market and emerged as platform provider for advertisers. However, new players in social media arena are likely to pose competition to existing players owing to their increasing use of location based services for advertising purposes. For instance, in March 2018, Snapchat introduced location based advertisement targeting that will help advertisers to target advertisements based on a radius around a specific geographic area. Snapchat’s move is likely to be followed by other social media platforms and anticipated to boost the location based advertising.

The data carriers and operators such as AT&T, Vodafone, and Verizon are providing affordable plans to consumers and enterprises which has made location based advertising cost effective channel of marketing. Besides traditional marketing touch points such as SMS, MMS, and websites, social media sites, and Over the Top (OTT) platforms, are the trending marketing channels. Besides this mobile applications are becoming the major inventory for advertisements to be displayed in and replacing the conventional mobile web. However, resistance by users to mobile applications opt-in permissions, privacy concerns, and accuracy of location targeting are some of the challenges faced by marketers that might impede the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/location-based-advertising-market

Further key findings from the study suggest:

Pull type LBA segment is predicted to expand at the highest CAGR over the forecast period owing to increasing user interaction with brands on mobile sites or applications and growing use of personalization features and engagement strategies by advertisers and marketers. Moreover, use of advertisements as display advertising integrated with publisher content or search advertising is also likely to boost the segment growth
Multimedia is anticipated to be the fastest growing segment owing to increasing number of search queries on mobile devices and collaboration of brands and marketers with social media platforms such as Facebook, Instagram, and Twitter
The application of location based advertising at airports is likely to be the fastest growing segment over the forecast period. Owing to increasing use of location services for places of interest such as airports by the travelers and use of geo-fence targeting strategy by advertisers to target its audience is likely to boost the segment growth
Asia Pacific is expected to emerge as the fastest-growing region owing to the proliferation of low cost smartphone devices, rise in use of digital product and services, and increasing digital marketing spend by large and local enterprises. Moreover, government initiatives to develop navigation/GPS infrastructure enabled by satellites, necessary equipment manufacturing, and supportive research funding is likely to foster the technology penetration and boost the confidence of the location based service providers and marketers

Cancer Biomarkers Market Worth $33.7 Billion By 2025

The global cancer biomarkers market size is expected to reach a value of USD 33.7 billion by 2025, at a CAGR of 14.3% based on a new report by Grand View Research, Inc. Growing initiatives for development of drugs targeting novel cancer biomarkers coupled with the introduction of technologically advanced companion diagnostic kits is estimated to provide the market with high growth potential. Increasing awareness about personalized medicines amongst patients is further anticipated to boost adoption of cancer biomarkers.

In addition, presence of favorable government initiatives for the development of novel cancer diagnostic techniques is a key factor for market growth. For instance, the National Cancer Institute (NCI) provides funding to more than 8 research areas pertaining to cancer biomarker development. Cancer Research UK, Lung Cancer Research Foundation, and National Institutes of Health are some of the organizations providing funding for biomarker research.

People with high alcohol consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are reported to be 80% more at risk of developing cancer as compared to other individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been studied to be related in cancer development.

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http://www.grandviewresearch.com/industry-analysis/cancer-biomarker-market

Further Key findings from the study suggest:

Breast cancer was the largest segment by revenue share in 2016 owing to high prevalence of this type of cancer
Lung cancer is estimated to be the fastest-growing type due to increasing research activities toward development of novel lung cancer biomarkers
Genetic biomarkers, being the highest used and easily detectable held the majority share of cancer biomarker market by biomolecule in 2016
However, epigenetic biomarkers are anticipated to witness lucrative growth due to increasing focus on finding the role of epigenetic modifications in cancer development
Cancer biomarkers are majorly used for diagnostic purpose owing to their high specificity
The personalized medicine segment is estimated to witness fastest CAGR of 15.0% over the forecast period
North America dominated in terms of revenue share in 2016 due to established R&D infrastructure and high acceptance of biomarker-based cancer testing in this region
Asia Pacific is anticipated to grow at a substantial growth rate till 2025 with CAGR of over 16.7%
Some of the major companies in the cancer biomarkers market are Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological Inc.; and Becton, Dickinson and Company

Preventive Healthcare Technologies and Services Market Worth $432.3 Billion By 2024

The global preventive healthcare technologies and services market size is expected to reach USD 432.4 billion by 2024, according to a new report by Grand View Research, Inc. Key factors driving the market expansion include the growing awareness about preventive measures, which enhance the quality of life, lifespan, and minimize the possible healthcare spending.

The growth of this market is attributed to the adoption of advanced technology and the development of preventive measures, including vaccines, screening & monitoring devices, and smart devices to reduce medical errors. Growth of the market is also fueled by factors such as reducing the birth rate that is resulting in an increase of the geriatric population, which is more prone to chronic diseases.

With the introduction of the Human Development Index (HDI) ratings since 2010, all countries are engaged in the overall development of their country and citizens. Life expectancy has a significant impact on HDI calculations. Governments of the countries have been focusing on improving life expectancy of the people by implementing various programs, including free or affordable vaccination, smoking cessation, and affordable insurance schemes. These programs cause a direct positive impact on preventable technologies and services space.

A large share of preventive healthcare includes early detection and screening technology. This segment pertains to personalized diagnostic techniques, which has captured the largest share owing to the accuracy and availability of the innovative techniques for diagnosis.

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http://www.grandviewresearch.com/industry-analysis/preventive-healthcare-technologies-and-services-market

Further Key Findings From the Study Suggest:

According to data published by the WHO, the percentage of the total vaccinations in the U.S. has been growing. The vaccinations included those funded by the government as well as private purchases.
In 2015, the early detection and screening technologies’ segment captured the largest share. The advantages associated with personalized medicine technologies, such as high accuracy and detection of the possible disease or disorder at an early stage, are mainly attributed to the largest share of the segment.
With the introduction of advanced technology and the growing demand for accurate screening methods, the growth of early detection and screening is expected to be the fastest during the forecast period.
North American region dominated this space by capturing over 48.0% of the global market in 2015. This region is anticipated to dominate the preventive healthcare technologies and services market throughout the forecast period. Some of the factors having a significant impact on the regional market growth are government initiatives, high per capita income, and the presence of a large number of major players in the region.
Growing economies and government initiatives are expected to drive the growth of the Asia Pacific region. The segment is expected to witness a lucrative CAGR of over 15% during the forecast period.
Some major players in the consolidated market are McKesson Corporation; Scripto LLC; Omnicell, Inc.; Healthways, Inc.; Alere; Medtronic; GlaxoSmithKline plc; Pfizer, Inc.; and Merck & Co, Inc.

Pediatric Vaccines Market Worth $60.4 Billion By 2025

The global pediatric vaccines market is expected to reach USD 60.4 billion by 2025 at an 11.7% CAGR, according to a new report by Grand View Research, Inc. Advancements in development of vaccines and new product launches are some of the major drivers of the market.

Increase in investments by companies to capture a larger market share is anticipated to propel growth. Some of the factors attributed to increase in investment are high growth prospects in the emerging market, immunization schedule mandated by doctors for children, and awareness programs led by UNICEF, WHO, and other healthcare organizations. Furthermore, increase in number of government initiatives for raising awareness about immunization is expected to boost the market for pediatric vaccines.

Advancements in development of novel adjuvants and therapeutic vaccines are expected to drive growth during the forecast period. Ongoing research in novel molecules targeted at specific mechanisms of action in the body is aimed at providing immunity against fatal diseases such as cancer and Zika virus disease. For instance, in June 2016, Inovio Pharmaceuticals, Inc. announced the initiation of phase I clinical trial for their Zika DNA vaccine named GLS-5700.

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https://www.grandviewresearch.com/industry-analysis/pediatric-vaccine-market

Further key findings from the report suggest:

The global pediatric vaccines market was estimated at USD 22.4 billion in 2016 and is expected to grow with a CAGR of 11.7% from 2017 to 2025
By type, monovalent emerged as the largest segment due to factors such as high usage and increase in initiatives for R&D activities supported by various governments
Conjugate vaccines formed the dominant technology segment in terms of revenue in 2016. Higher adoption of these vaccines and increase in prevalence of infectious diseases contribute to its lead in the market for pediatric vaccines
By application, the cancer segment is expected to witness the fastest growth with a CAGR of 12.6% owing to increasing prevalence of cancer and rising need for immunization against the disease
North America held the largest revenue share in 2016. Its dominance in the market for pediatric vaccines is owing to factors such as local presence of major players in the industry and extensive R&D activities
The Asia Pacific region is anticipated to witness lucrative growth over the next decade due to increase in prevalence of infectious diseases and a large target population
Key players such as GlaxoSmithKline plc; Pfizer, Inc.; SANOFI; and AstraZeneca dominated the global market for pediatric vaccines in 2016.

Immunoassay Market Size Worth $25.41 Billion By 2025

The global immunoassay market size is expected to reach USD 25.41 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.0% during the forecast period. Extensive usage of immunoassay techniques for detection of infectious and chronic diseases is the prime factor driving the growth. In addition, launch of novel products coupled with rapid technological advancements are anticipated to drive the market. For instance, Quidel Corporation received CE mark approval in 2018 for its product Sofia, which is a Quantitative Vitamin D Assay used with Sofia instrument.

Moreover, collaborations and partnerships among medical device giants are expected to provide new growth platforms for immunoassay techniques, such as radioimmunoassay, rapid tests, and enzyme immunoassays among others. For instance, Roche Diagnostics and GE Healthcare entered into a partnership to develop and market digital clinical decision systems in January 2018. This partnership aided in improving cancer and critical care.

Furthermore, automation has benefits such as efficiency and optimal usage of labor and space in laboratories. Thus, the immunoassay market is witnessing lucrative growth as some players are introducing automated laboratory systems, point-of-testing compact, and portable assay tests. For instance, launch of innovative products such as compact and portable ichroma II by Boditech Med, Inc., which is an FDA-approved fluorescence scanning instrument used for influenza screening.

North America held a significant market share in 2018, attributed to high R&D investments by pharmaceutical and medical device manufactures and favorable government insurance policies. For instance, in May 2018, a bill was approved by the U.S. congress, as per which an individual can try unproven medical aids, which includes drugs, medications, and devices, in case of severe illness.

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https://www.grandviewresearch.com/industry-analysis/immunoassay-market

Further key findings from the study suggest:

Reagents and kits accounted for a significant market share of about 72.0% in 2018, owing to extensive application of the products
Closed-ended systems is expected witness a profitable CAGR over the forecast period due to associated advantages, such as sterility, and cheaper rates as compared to open-ended systems
Asia Pacific is anticipated to witness significant CAGR over the forecast period due to rising healthcare spending and healthcare investments by many companies
Key players operating in the immunoassay market are Quidel Corporation; Ortho Clinical Diagnostics; Roche Diagnostics; and Thermo Fisher Scientific, Inc. among others
The industry participants engage in extensive research activities to develop novel immunoassays for diagnosis of infectious and chronic diseases.

Gardening Equipment Market Size Worth $102.3 Billion By 2025

The global gardening equipment market size is expected to reach USD 102.3 billion by 2025, according to a new report by Grand View Research, Inc. Mounting investments in the novel gardening tools to replace the old equipment is expected to be a major factor spurring market growth. The rising housing activity capacity to meet the ever-growing population’s demand is estimated to act as a key driver augmenting growth. Never the less, the seasonal variation witnessed by the manufacturers is estimated to challenge the industry over the near future.

The global gardening equipment market is anticipated to witness high growth over the forecast period. This may be accredited to the advent of technologically advanced products such as battery-powered hand tools and robotic lawnmowers. Further, remote-controlled and GPS-equipped lawnmowers are expected to gain traction in the near future, thereby spurring equipment sales. The rising espousal of gardening as a hobby is expected to further catapult equipment market growth over the next nine years.

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https://www.grandviewresearch.com/industry-analysis/gardening-equipment-market

Further key findings from the study suggest:

The lawnmowers segment captured over 30% of the total revenue in 2015 and is projected to exhibit a significant growth at a CAGR of over 4.0% from 2016 to 2025, which is attributed to their extensive usage in the commercial complexes such as shopping centers, hospitals, churches, and public parks.
On account of the wide scope of purposes gardening equipment serve in trimming, cutting, and shaping the plants & shrubs at the residential complexes, the residential segment is expected to gain prominence over the forecast period with an estimated CAGR exceeding2.0%.
Asia Pacific emerged as the fastest-growing market and is expected to grow at a healthy compound annual growth rate of over 3.0%, which is primarily due to the improved social lifestyle of the escalating base of wealthy middle-class population in the region.
The key purveyors in this industry comprise Deere & Company, Toro, Bosch Power Tools, MTD Products, Honda and Husqvarna Group, as the international players hold a strong foothold in the market making it difficult for the local suppliers to compete.

Silicon Photonics Market Size Worth $918.3 Million By 2025

The global silicon photonics market size is expected to reach USD 918.3 million by 2025, according to a new report conducted by Grand View Research, Inc. The rapid emergence of commercial and consumer electronics applications is anticipated to revolutionize the market by 2025.

The IT and telecommunication application segment would dominate the sector in terms of market size over the forecast period. Silicon photonics devices find commercial applications in high-performance computers and data center applications. The silicon photonics technology offers a cost-effective and reliable solution to commercial applications.

The key value chain components for the silicon photonics system include raw material suppliers, component manufacturers (chip and optical interconnect fabrication firms), Original Equipment Manufacturers (OEMs), server system distributors, and end-use segments. Silicon photonics has been a significant research arena since the last decade on account of potential benefits of the optoelectronics integration.

The market can be categorized based on application types into consumer electronics, IT & telecommunication, commercial, defense & security, and healthcare & life science verticals. Silicon photonics devices find commercial applications in high-performance computers and data center applications.

Small size and cost-effectiveness are the ideal features desired from silicon photonics, which is largely driving the growth of the silicon photonics market. Vendors provide solutions across a wide range of industries, such as mobile broadband Internet access, high-performance computing, data center and enterprise networking, and metro and long haul data communications, among many others.

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http://www.grandviewresearch.com/industry-analysis/silicon-photonics-market

Further key findings from the report suggest:

The industry is predicted to grow as the products would rapidly gain traction. This is attributed to the ability of products to be incorporated in different application areas, such as IT and telecommunication, consumer electronics, and commercial.
The increasing demand for active optical cables, optical multiplexers, and optical attenuators provides numerous growth opportunities as they offer considerable options to attain low-cost economies
The North American region dominated the marketplace, accounting for the largest global silicon photonics market share (in terms of revenue) in 2015
The key industry participants include Cisco Systems Inc., Finisar Corporation, Intel Corporation, Mellanox Technologies, and Molex Incorporated

Gesture Recognition Market Worth $30.6 Billion By 2025

The global gesture recognition market size is likely to reach USD 30.6 billion by 2025. It is poised to post a CAGR of 22.2% from 2018 to 2025, according to a new report by Grand View Research, Inc. Increasing digitization across various industries is benefiting the growth of the market. Ease of adoption due to low technical complexity for end users is escalating its implementation across the consumer electronics industry. Several other industries have also started using this technology. Similarly, the touchless gesture recognition market is primarily driven by factors such as rising hygiene consciousness, government measures for water conservation, low maintenance cost, and booming hospitality and tourism industry.

Surging use of consumer electronics and Internet of Things, along with increasing need for comfort and convenience in product usage, is boosting the growth of the gesture recognition market. Technological advancements and ease of use are helping the market gain momentum over the coming years. Increasing awareness regarding regulations and driver safety are bolstering the demand for gesture recognition systems in the automobile industry. Similarly, spiraling customer demand for application-based technologies is stimulating market growth.

Gestures are visible body actions through which human express information to others without saying it. In our daily lives, we see several hand gestures that are frequently used for communication purposes. Hand gesture recognition is one of the advanced research fields, which provides a way for human-machine interaction. Hand gesture recognition provides an intelligent method for human-computer interaction (HCI).

The market is volatile and is experiencing a fierce competition, therefore, witnessing high number of mergers and acquisitions. For instance, Intel Corp. acquired Omek Interactive Ltd. Some of the key players in the market are Apple, Intel, Microsoft, and Google. Along with global giants, local and regional players are also showing tremendous growth and attracting big investors. This scenario has taken the competition to a whole different level.

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https://www.grandviewresearch.com/industry-analysis/gesture-recognition-market

Further key findings from the report suggest:

Increasing digitization across various industries and ease of adoption due to low technical complexity for end users are poised to propel the market
The healthcare segment is projected to experience substantial CAGR of 27.0% over the forecast period
Asia Pacific was the highest revenue contributor in 2017. It is expected to witness significant growth over the forecast period
The key players of the market include Apple Inc.; eyeSight Technologies Ltd; and Infineon Technologies AG.