Physical Security Market Worth $171.0 Billion By 2027

The global physical security market size is expected to reach USD 171.0 billion by 2027 and is anticipated to register a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Lack of physical security leads to higher rates of burglaries and thefts. Therefore, safeguarding the physical perimeter and individual assets, including expensive technological equipment, has gained importance and is driving the market growth. Increasing awareness about securing the perimeter in developing economies has led to a rise in deployment of IP-based cameras in residential societies as well as commercial complexes and offices. Furthermore, increasing terror threats, border disputes, and refugee crises drive the adoption of stringent safety measures, thereby driving the physical security market growth.

Governments across different countries and regions are taking up smart city initiatives to enhance their infrastructure and are hence deploying improved security systems. Additionally, modernizing the existing infrastructure with robust security measures and strengthening the security of government agencies have been some of the top priorities for governments across developed countries. Organizations are increasingly concerned about employee safety and are hence setting up systems to prevent unauthorized access, further driving the demand for physical security solutions.

China accounted for the largest share of the Asia Pacific market in 2019. The market in China has been strongly supported by the growth in new construction projects and smart city initiatives. Furthermore, the presence of technology giants such as Hangzhou Hikvision Digital Technology Co., Ltd and Dahua Technology Co., Ltd is another factor contributing to the market growth. Companies in the market are focusing on strategic partnerships and acquisitions to enhance their product and service offerings. In August 2019, Dahua Technology Co., Ltd entered into a strategic alliance with Pepper to offer enhanced security to its video as well as non-video IoT services to protect against unauthorized access of data. The partnership would allow the incorporation of Pepper’s intelligent solutions into Dahua Technology Co., Ltd’s hardware.

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https://www.grandviewresearch.com/industry-analysis/physical-security-market

Further key findings from the study suggest:

Video surveillance dominated the physical security market with a value of USD 33.1 billion in 2019 as these systems enable real-time continuous monitoring and help lower chances of theft
System integration is anticipated to dominate the market through the forecast period owing to factors such as stringent regulations and demand for cost-effective systems
The residential segment is anticipated to register the highest CAGR of more than 7.0% over the forecast period owing to measures taken by consumers to protect their assets from potential threats
Key companies in the market include Hangzhou Hikvision Digital Technology Co., Ltd.; Honeywell International, Inc.; Johnson Controls; Robert Bosch GmbH; and ADT. These players focus on adopting strategies such as mergers and acquisitions to enhance their market presence

Sand Blasting Machines Market Size Worth $441.1 Million by 2020

The global sand blasting machines market is expected to reach USD 441.1 million by 2020, according to a new study by Grand View Research, Inc. Breakthroughs in robotic sand blasting technology as a result of investments by key industry participants is expected to drive the market over the forecast period. Increased demand from end-use industries such as construction, automotive, and aerospace is expected to favorably impact market growth.

Shot blasting machines have replaced sand blasting machines in several applications to alleviate the risk of lung diseases caused due to inhalation of silica, which may pose a challenge to market growth. Governments of many countries such as the U.S., UK and Turkey have restricted the use of blast cleaning abrasives containing more than 0.1% free silica, which may hamper demand over the next six years.

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http://www.grandviewresearch.com/industry-analysis/sand-blasting-machines-market

Further key findings from the study suggest:

Global sand blasting machines market shipments were estimated at 86,018 units in 2013, which is expected to reach 121,845 units by 2020, growing at a CAGR of 5.1% from 2014 to 2020.
Industrial sand blasting machines accounted for over 80% of the market revenue in 2013. The mini sand blasting machines market is expected to gain prominence over the next six years as sandblasting has substituted numerous domestic tasks such as paint and rust removal.
Sand blasting machines market demand is expected to be the highest in Asia Pacific owing to extensive use in construction, automotive, and infrastructure sectors coupled with significant contribution by the Chinese market to global volume and revenue generation. Demand for mini sand blasting machines is higher in North America, where they are used for automotive as well as home improvement applications.
The market is extremely fragmented in nature; Clemco Industries Corp. emerged as the leading market player in 2013. The company sells blasting machines under four distinct brands, each catering to a specific application area, and also develops equipment targeted at operator safety. Other market players include Trinity Tool Company, Tools USA, C.M. Surface, and ACE.

Thermal Imaging Market Size Worth $6.50 Billion By 2020

Global thermal imaging market size is poised to reach USD 6.50 billion by 2020 at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. increasing demand for low-cost devices owing to its widespread applications. Commercialized thermal imagers resulting from the development of microbolometers expected to augment the growth of the market over the forecast period.

In addition to increasing demand in industrial and commercial sectors, thermal imaging devices are also used across several security and surveillance applications. Moreover, increasing adoption of integrated solutions across commercial applications would further fuel the growth of the industry. Furthermore, the use of thermal imaging in high-resolution camera and smartphone is expected to bolster further the growth of the industry.

Thermal Imaging application in commercial segment is also poised to experience growth over the next few years. Growth can be attributed to increasing the use of thermal imaging devices across various applications such as surveillance and security, thermography and transportation systems.

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Defense & Military was the dominant application segment in 2013 and accounted for over 40% of thermal imaging market during the same period. The thermal camera is used extensively by ground forces in the military to improve situational awareness. However, decreasing defense spending in developed markets would prove to be a restraining factor for the growth over the projected period.

North America was the largest regional market in 2013 and accounted for over 30% of the market. Growing industrial and commercial sectors are expected to fuel the market growth over the forecast period. The extensive use of thermal imaging sensors in security products and rising demand for safety and surveillance applications is expected to drive demand in Europe. Asia Pacific is also expected to witness significant growth owing to rising defense budget.

The market is highly competitive and is characterized by cost minimization strategies by key industry players. The companies emphasize on continuous innovation and R&D to outpace the competition. In the industry, there is a high degree of integration between the manufacturers and suppliers. Manufacturers focus on global deployment, technological innovation, and unique products to cater to growing demand. Furthermore, increasing focus on scaling production which leads to reduced product cost due to economies of scale is expected to propel demand over the next few years.

Key players in the industry include BAE Systems Inc., FLIR Systems Inc., Raytheon Company, and DRS Technologies Inc. Optimizing manufacturing throughput along with greater product reliability through vertical integration of production activities is expected to be a key growth driver.

Subdermal Contraceptive Implants Market Worth $969.2 Million By 2026

The global subdermal contraceptive implants market size is expected to reach USD 969.2 million by 2026, according to a new report by Grand View Research, Inc., registering a 3.2% CAGR over the forecast period. Introduction of several modern contraceptives in the market, growing awareness about various birth control methods, and high per capita income are some of the key factors driving the market for subdermal implants for birth control.

According to the Guttmacher Institute, in 2014, approximately 20 million women needed publicly funded contraceptive services. According to CDC, in 2017, nearly 46.9 million women in the U.S. were using at least one method of contraception. Subdermal implant is a long-term birth control option for women. Subdermal implants for contraception are in the form of polymer capsules or rods placed under the skin. The progestational hormone is released at a slow and stable rate, providing effective contraception for 1-5 years.

Publicly funded family planning services help women avoid or plan pregnancies. In 2012, the South Carolina Department of Health and Human Services (SCDHHS) revised the cost associated with Medicaid payment policy for immediate postpartum insertion of Long-Acting Reversible Contraception (LARC). Under this new reimbursement policy, providers are allowed to bill for the insertion procedure and the cost of an IUD or an implant, in addition to the Diagnosis Related Group (DRG) by using J-codes with a family planning modifier.

Implants are the most widely used contraceptive methods by women in sub-Saharan Africa owing to public-private partnerships between manufacturers, donors, governments, and international agencies, which helps lower commodity cost and increase product availability. Contraceptive usage has increased in South Africa, Malawi, and Rwanda. According to PLOS.org, in Malawi, the use of the Long-acting Reversible Contraception (LARC) method reached 10.21% in urban areas in 2016 and 9.66% in rural areas. In 2012, an initiative called Family Planning 2020 (FP2020) was launched to give 120 million women access to modern contraceptive methods by 2020.

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https://www.grandviewresearch.com/industry-analysis/subdermal-contraceptive-implants-market

Further key findings from the report suggest:

North America held the maximum share in the market for subdermal implants for contraception in 2018. This can be attributed to growing number of unwanted pregnancies, increased government initiatives in favor of contraception, and rising unmet needs
Strong economic growth in countries such as China, India, and Singapore, increasing awareness about contraceptives and STIs, and rising disposable income are expected to boost the Asia Pacific market in the coming years
Rapid population growth is a major concern in sub-Saharan African countries; the region’s population growth is projected to account for more than half of the global population growth by 2050. This could have a positive impact on the uptake of subdermal implants for birth control
Some of the key subdermal contraceptive implants market players are Shanghai Dahua Pharmaceutical Co., Ltd.; Merck & Co., Inc.; and Bayer AG. In February 2018, Shanghai Dahua Pharmaceutical Co., Ltd. and DKT International entered into an agreement to market Levoplant at a reduced price of USD 6.90 per unit in 69 countries.

U.S. Medical Tourism Market Worth $12.9 Billion By 2026

The U.S. medical tourism market size is anticipated to reach USD 12.9 billion by 2026, expanding at a CAGR of 8.7%, based on a new report by Grand View Research, Inc. Improvements in healthcare technology and high standards of healthcare attract patients from other developed as well as developing countries to travel to U.S. for availing care pertaining to complex healthcare issues, including cardiovascular diseases and cancer. Facilities in other countries may not maintain accreditation or provider licensure. Hence, medical tourists prefer U.S. for healthcare to avail the highest care quality.

Medical tourism. Flat design modern vector illustration concept.

Most patients pay for treatment at time of service. The U.S. medical tourists travelling to other countries often rely on healthcare concierge services or private companies to identify healthcare facilities to suit their specific requirements. A few health insurance providers and large-scale employers in U.S. collaborate with hospitals outside the country to control employee healthcare costs.

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https://www.grandviewresearch.com/industry-analysis/us-medical-tourism-market

Further key findings from the study suggest:

The inbound segment dominated the market in 2018. Attractive healthcare travel packages for inbound tourists along with insurance, emerging trend of oncology tourism, and growing prevalence and early onset of chronic diseases are some of the factors driving U.S. inbound medical tourism
The U.S. has known states for medical tourism that includes Florida, Pennsylvania, and Arizona. The legislators of Florida are trying to boost the number of patients travelling to the state. In April 2014, SB1150, (a bill) set aside USD 3.5 million for a 4 year campaign for marketing and promoting “sun-and-surgery” packages in the state. The bill is expected to force the local agency to market Florida as a healthcare destination
As per the published article in 2018, around 5,000 people travel to Philadelphia for healthcare services. Wills Eye Hospital, Fox Chase Cancer Center, The Rothman Institute for Orthopedics are some of the affiliates of Philadelphia International Medicine (PIM) with clients from 50 countries and 70% of the clients are from Middle East. Patients have access to various specialties ranging from neuroscience to bone marrow transplant, liver and lung transplant to oncology services
The U.S. outbound medical tourism segment is expected to grow at a rapid rate over the forecast period.High labor costs in developed countries such as U.S. is leading to an increase in the cost of operating hospitals, which in turn is resulting in an increase in patient expenditure. Conversely, lower operating costs and doctors’ salaries in countries such as India is one of the factors responsible for affordable costs of healthcare services
The key industry participants in U.S. inbound medical tourism market include Cleveland Clinic, MD Anderson Cancer Center, Mayo Clinic, The John Hopkins Hospital, TIRR Memorial Hermann, McLean Hospital, Dana-Farber Cancer Institute, Baptist Health South Florida, and Cancer Treatment Centers of America.

Cannabidiol Nutraceuticals Market Size Worth $17.4 Billion By 2026

The global CBD nutraceuticals market is projected to reach USD 17.4 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 18.8% during the forecast period. Introduction of the 2018 Farm Bill that legalized hemp cultivation and hemp-derived products in U.S., rising consumer preference for plant-based ingredients in dietary supplements, and awareness regarding the health benefits of cannabidiol are some of the factors powering the market growth. However, the easy availability of alternative products is obstructing market growth.

CBD tinctures dominated the global Cannabidiol (CBD) nutraceuticals market in 2018, with a revenue share of 42.6%. Increasing acceptance of cannabidiol for health and wellness purposes coupled with high bioavailability of tinctures when administered sublingually are the major factors responsible for this large market share. On the other hand, capsules and soft gels are anticipated to be the fastest-growing product type over the forecast period, as they are travel-friendly and convenient to carry in public places. However, many consumers dislike the raw taste and texture of cannabidiol and so they are switching towards capsules and softgels.

Based on the sales channel, retail store segment dominated the CBD (Cannabidiol) nutraceuticals market in 2018, as consumers prefer retail stores for buying dietary supplements due to attractive pricing. On the other hand, the online sales channel is expected to expand at the fastest CAGR over the forecast period owing to the rise in the preference for online shopping. Furthermore, the new entrants in the CBD nutraceuticals space, find online sales channel a much economical alternative than a retail storefront.

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https://www.grandviewresearch.com/industry-analysis/cbd-nutraceuticals-market

Further key findings from the report suggest:

In 2018, CBD tinctures dominated the Cannabidiol nutraceuticals market with a revenue share of 42.6%, due to the higher bioavailability than other product types
The online sales channel is projected to witness the fastest growth rate over the forecast period. Many companies are opting for this channel, as it is a faster way to reach the target audience
Some of the major market players are Medical Marijuana Inc.; CV Sciences Inc.; CHARLOTTE’S WEB; Irwin Naturals; and MGC Pharma

3D Printed Surgical Models Market Size Worth $1.1 Billion By 2026

The global 3D printed surgical models market size is expected to reach USD 1.1 billion by 2026, expanding at a CAGR of 10.3%, according to a new report by Grand View Research, Inc. Improving diagnosis as well as the context of the patient’s pathology is driving the market. Increasing use of advanced healthcare technologies for better understanding of patients and minimization of risk during the actual surgical procedure is boosting the demand for 3D printed surgical models.

The introduction of synthetic modeling of human anatomy has made a significant leap forward. The 3D printed surgical models allow preadoption of surgical instruments by improving the 3D perception of the planned operation. The technology also enables surgeons to envision, practice, and then perform the actual surgery for saving time and increasing precision. These models can also be used to perform mock surgeries, thereby improving the prediction of the outcomes.

Advanced medical models are anatomically accurate, highly functional, and biomechanically realistic and are liberated from the cost and inconvenience to the animal as well as cadaver labs. They are perfect for simulating clinical procedures such as suturing, cutting, reaming, drilling, and even device placement. Some of the most advanced three-dimensional structures can even mimic bleeding, coming as close as possible to reality, which would enhance the efficiency and accuracy of surgical procedures.

The 3D printed anatomical models can help in numerous aspects, including educating young surgeons about tactile and three-dimensional inspection of the tissues. They are also used to help patients prepare for surgery.

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https://www.grandviewresearch.com/industry-analysis/3d-printed-surgical-models-market

Further Key Findings from the Report Suggest:

The orthopedic surgery segment accounted for highest revenue in 2018 as the 3D models can assist in pre-operative planning by defining the geometry of bone loss, tumor mass, and nearby vessels to determine the most appropriate osteotomy site along with most appropriate prosthesis
The neurosurgery segment is anticipated to witness the fastest CAGR of 11.3% over the forecast period. This is due to increase in the use of 3D models to describe complex anatomical structures to patients
North America held the largest share accounting for 35.3% of the global market share in 2018. This is attributed to the U.S. offering the most sophisticated healthcare infrastructure comprising multispecialty hospitals and clinics, thereby increasing the demand
Some of the players operating in the market are Stratasys, Ltd.; 3D Systems, Inc.; Lazarus 3D, LLC; Osteo3d; Axial3D; Onkos Surgical; Formlabs, Materialise NV; 3D LifePrints UK Ltd.; and WhiteClouds.

Chip-on-Board LED Market Size Worth $9,179.7 Million By 2020

The global chip-on-board LED market size is expected to reach USD 9,179.7 million by 2020, according to a new study by Grand View Research, Inc. Increasing urbanization and infrastructure spending are expected to be the key drivers for market growth over the forecast period. Chip on Board (CoB) LEDs are energy efficient, have greater reliability, and require less space. Furthermore, they offer high intensity and homogenous luminosity, which makes them suitable for high power applications. In recent times, the use of solid lighting technology against traditional lighting has significantly led to increased adoption of COB light-emitting diode (LED).

High demand for CoB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global CoB light-emitting diode market over the next six years. Furthermore, advancements in design and cost-saving through economies of scale are expected to provide significant growth opportunities for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.

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http://www.grandviewresearch.com/industry-analysis/chip-on-board-light

Further key findings from the study suggest:

The illumination segment dominated the chip-on-board LED market and is expected to be the largest and fastest-growing application over the next six years. This segment accounted for over 45% of the market in 2013, mainly because of COB LEDs’ wide area light-emitting property. The backlighting application segment is expected to grow substantially due to the rise in the number of applications in handheld devices, monitors, and LED televisions.
Asia Pacific accounted for over 50% of the global CoB LED market revenue in 2013, and is expected to dominate demand over the forecast period. Further, it is expected to exhibit the fastest growth from 2014 to 2020, owing to government initiatives favoring COB LED adoption and a large number of market participants.
Companies operating in the chip onboard light-emitting diode market include Philips LumiLEDs Lighting Company, Cree Inc., Samsung Electronics Co. Ltd., Citizen Electronics Co. Ltd., Osram Opto Semiconductors GmbH, Everlight Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Nichia Corporation, Lumens Co. Ltd, LG Innotek Co. Ltd, etc. The market is consolidated in nature, and the development of efficient and cost-effective products is expected to serve as a key growth strategy over the forecast period.

Automated Test Equipment Market Size Worth $8.68 Billion By 2027

The global automated test equipment market size is estimated to reach USD 8.68 billion by 2027, expanding at a CAGR of 3.4% over the forecast period, according to a new study conducted by Grand View Research, Inc. Increasing adoption of System on Chip (SoC) coupled with high demand for consumer electronics is anticipated to drive the growth. Growing electronic content in automotive sector and penetration of smartphones is expected to drive the market. Furthermore, the demand for Automated Test Equipment (ATE) in manufacturing industry as the test equipment save the manufacturing cost and helps in eliminating the defective devices is projected to continue fueling the market.

A torque wrench is attached to a calibration machine at the Precision Measurement Equipment Laboratory at Barksdale Air Force Base, La., Nov. 7. PMEL calibrates more than 7,500 pieces of test, measurement and diagnostic equipment for 120 different offices. Test equipment like this is used on the B-52H Stratofortress and other Air Force aircraft and support equipment. (U.S. Air Force photo/ Staff Sgt. Jason McCasland)(RELEASED)

Miniaturization has spurred demand across various semiconductor manufacturing companies. Additionally, considerable technological advancements coupled with design complexity and the need for adequate testing is expected to positively impact the growth. Developments in semiconductor manufacturing processes along iwht expansion of wireless networks in developing nations is expected to provide significant growth opportunities for the global market.

The growth of ATE market is primarily driven by semiconductor manufacturing companies which focus on cost-effective testing. Semiconductor manufacturing companies no longer consider fabrication costs as a factor for profit margin in semiconductor chip manufacturing. Semiconductor companies focus on improving their fabrication technology and look for efficient ways of testing to reduce losses due to damages. Advancements in smartphones, tablets, and SoC-based products is creating demand for greater functionality in ATE. As connected devices get smaller, more powerful, and multifaceted; they face design, application, and fabrication challenges, increasing the product demand.

Increasing design complexities along with major technological inventions such as advanced Design for Test (DFT) and adaptive testing are some of the key factors driving the automatic test equipment market. Moreover, recent innovations in Internet of Things (IoT) devices, autonomous vehicles, along with significant changes in the defense and aerospace sectors have significantly transformed the market dynamics.

Non-memory automated test equipment product segment is expected to hold significant market share over the forecast period owing to the increasing number of microcontroller-based applications and demand of the automotive sector. Revenue from IT and telecommunications sector is projected to witness significant growth in the forthcoming years. Asia Pacific accounted for the largest market share in 2019 and is expected to register the fastest growth over the forecast period, owing to the rising number of semiconductor industries in the region. Key market players include Aemulus Holdings Bhd (“Aemulus”); Chroma ATE Inc.; and Teradyne Inc.

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

Further key findings from the report suggest:

The growth of automated test equipment market is driven by the significant use of the test equipment in automotive and semiconductor industry
In the product segment, Non-memory ATE held the largest market share in 2019 and is estimated to witness the second fastest growth over the forecast period owing to the expansion of consumer electronics, growing number of microcontroller-based application, and other such factors
In the vertical segment, IT and telecommunication is estimated to continue holding the largest market share in the forthcoming years, owing to the increased focus on effective communication
The automotive segment is expected to witness considerable growth over the forecast period owing to the increasing integration of the electronic devices in the automobile industry
North America is estimated to witness substantial growth over the forecast period owing to the high investment in aerospace and defense couple with technological innovations
Key market players include Aemulus Holdings Bhd (“Aemulus”); Chroma ATE Inc.; Aeroflex Inc. (a subsidiary of Cobham plc); Astronics Corporation; Advantest Corporation; LTX-Credence Corporation (Xcerra Corporation); Teradyne Inc.; STAr Technologies Inc. (a subsidiary of Innotech Corporation); Tesec Corporation; Roos Instruments, Inc.; Marvin Test Solutions Inc.; and Danaher Corporation. Teradyne Inc.; LTX-Credence Corporation (Xcerra Corporation); and Advantest Corporation dominated majority of global market share

X-Ray Security Screening Market Size Worth $2.89 billion By 2020

The global x-ray security screening market size is expected to reach USD 2.89 billion by 2020, according to a new study by Grand View Research, Inc. Threats pertaining to piracy, drug trade, cross-border terrorism, human trafficking, etc., are anticipated to fuel global x-ray security screening market demand over the forecast period. The risk of terrorist attacks has driven investment in aviation security. Further, illegal arms, drug trafficking, and immigration have heightened border security, which is expected to favorably impact the demand for body & baggage screening systems and explosive detection systems.

The sales of x-ray security and inspection systems significantly rely on the decision of governmental agencies to upgrade or expand existing border crossing inspection sites, airports, seaport inspection sites, military facilities, and other security installations. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand. Further, the aviation sector has to keep pace with the evolving travel environment by adopting several security measures, which is expected to drive the x-ray security screening market over the next few years. The development of flexible security screening systems in order to address terror threats is also anticipated to fuel market demand. In addition, upgrades for existing installations provide opportunities for market growth. However, ionizing radiations generated by x-ray security scanners are known to be carcinogenic and may hinder market growth over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/x-ray-security-screening

Further key findings from the study suggest:

The transit sector is poised for high growth over the forecast period. X-ray security screening systems are primarily used for baggage screening and account for substantial usage across the civil aviation sector.
X-ray security screening exhibits high penetration in the government sector and accounted for substantial market share in 2013. Upgrades for existing installations are expected to drive the regional market demand, particularly across the border security application. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand.
Product screening accounted for considerable market share in 2013, with significant demand originating from the cargo and baggage screening applications.
North America accounted for a sizable share of the global x-ray security screening market in 2013. The Homeland Security Department has invested heavily in U.S. customs and border security, which is expected to catapult the segment demand over the forecast period.
A few key industry participants, including OSI Systems (Rapiscan), Smiths Detection, American Science and Engineering, Morpho Detection and Analogic Corporation are constantly innovating with considerable R&D investments to gain competitive advantage, and maintain strong market position.