Distributed Fiber Optic Sensor Market Size Worth $1.87 Billion By 2025

The global distributed fiber optic sensor market size is anticipated to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2019 to 2025. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil and gas sector are projected to substantially boost the market growth. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, the capability of Distributed Fiber Optic Sensors (DFOS) to work in challenging environment is another factor propelling the growth.

Increasing demand for sophisticated infrastructure coupled with rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Governments from around the world focus on conserving their existing infrastructure and developing new projects. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on road, railway, and dam construction projects. This rapid growth in the advanced civil engineering is expected to boost the distributed fiber optic sensor market.

The rapid adoption of DFOS has encouraged investments in R&D activities by manufacturers and suppliers to launch new products. They are also focusing on optimizing their production process and regulating efficiency to curb all other alternatives of the fiber optics technology. Due to the high price of production and installation processes of DFOS products, the manufacturers are developing competitively priced optic inspection products that are more reliable. However, factors such as technological complexities and other challenges incurring in optical inspection process are hampering the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/distributed-fiber-optic-sensor-sensing-dfos-market

Further key findings from the report suggest:

Temperature sensing application segment is expected to continue leading in terms of market size over the forecast period. Temperature sensors find application in oil and gas and civil engineering segments
Suppliers and manufacturers of fiber optic equipment are looking to achieving higher bandwidth, 100 GBPS, by undertaking intense research activities
North America dominated the global market in 2018 and is projected to account for the largest market share in terms of revenue in the forthcoming years
Growing demand for DFOS equipment can be attributed to the ever-growing demand for efficient and optimized processes, across enterprises and manufacturing sectors
Key market participants include Halliburton, Schlumberger Limited, Yokogawa Electric Corporation, OFS Fitel, LLC, Qinetiq Group PLC, Omnisens SA, Brugg Kable AG, Luna Innovations Incorporated, and AP Sensing GmbH

Industrial Refrigeration System Market Size Worth $26.9 Billion By 2027

The global industrial refrigeration system market size is expected to reach USD 26.90 billion by 2027, expanding at a CAGR of 4.6% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand for innovative and compact industrial refrigeration equipment and the government initiatives to strengthen cold chain infrastructure is projected to fuel the market growth. Furthermore, the expansion of food retail chains across the globe is likely to spur the demand in the forthcoming years.

Retailers are focusing on developing long-term strategic planning to withstand the increasing intensity of the retail competition and shifts in customer needs. The critical challenge of food processing applications currently is to make sure the freshness of perishable goods by taking into consideration that they have a less adverse impact on the environment. Moreover, the growing production and consumption of processed food in the food processing industry of the developing economies are predominantly driving the market growth.

The market is presently depending on cold storage infrastructure to efficiently and effectively store surplus build-up of food. At the same time, also deliver and store essential medication and pharmaceutical products effectively. In the outbreak of COVID-19 pandemic, increased demand for pharmaceutical and medical products worldwide is projected to boost the overall market growth. Since most pharmaceutical and medical products such as vaccines, blood bags, drugs, and others are enormously temperature-sensitive, they must be preserved in constant temperature places to prevent spoiling. The factors mentioned above are driving the storage refrigeration market growth.

North America dominated the market in 2019. This is due to the surge in demand for online grocery shopping in North America, with continuously growing application areas of natural refrigerant-based industrial refrigeration systems, which are anticipated to drive the overall market growth. Further, strict regulations for the supply and processing of perishable food products, coupled with the increasing number of technologically advanced refrigerated warehouses in the region, are likely to facilitate the development in exports and imports of perishable products. The demand for sophisticated warehousing, cold storage, transportation, and distribution facilities is gaining traction, thus, creating opportunities for regional as well as foreign companies to enter the market for the industrial refrigeration systems. It is also expected to generate business through various means such as mergers, acquisitions, alliances, and distribution partnerships.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market

Further key findings from the study suggest:

The compressors product segment is expected to dominate the market and is expected to continue leading over the forecast period
The food and beverage application segment is expected to dominate the market due to increasing disposable income and growing population resulting in an augmented demand for frozen and processed food products
North America is projected to account for the majority share of the market over the forecast period
The prominent industry participants include Johnson Controls; Emerson Electric Co.; GEA Group Aktiengesellschaft; DAIKIN INDUSTRIES, Ltd.; and Danfoss Industries Pvt. Ltd.

2D Barcode Reader Market Worth $8.6 Billion By 2025

The global 2D barcode reader market size is expected to reach USD 8.60 billion by 2025, registering a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow as incumbents of industries, such as retail, transportation & logistics, warehousing, and e-commerce, continue to adopt various tools to increase the operational efficiency of their business operations. Initiatives being undertaken by businesses to develop innovative strategies and adopt strategic methods and tools to gain a competitive edge in the marketplace also bode well for the growth of the market.

A barcode reader is emerging as one of the solutions that can potentially help businesses in ensuring lean operations and improving productivity. As a result, manufacturers operating in the market are responding to the situation by focusing on the development of innovative technologies for enhancing the barcode reading capabilities and offering numerous benefits to several end-use industries. The development of 2-Dimensional (2D) barcode scanners has particularly helped in solving several problems and challenges, such as having the capability to scan 2D barcodes while also ensuring the backward compatibility to scan 1-Dimensional (1D) barcodes.

A 2D barcode reader has assumed a pivotal role in increasing the operational efficiency of businesses. Owing to advantages such as higher accuracy, higher scanning speed, reduction in clerical cost, and improvement in customer service, the 2D barcode reader has cemented its position as a prominent tool for streamlining internal and external operations. Apart from being compact and flexible, the reader can also turn out to be an economical solution with a payback period of just 3-6 months. It is particularly getting vital for the industrial sector as a result.

The adoption of barcode technology as an automatic identification/scanning system has helped significantly in reducing human errors. A typical error rate for human data entry is estimated at around 1 error per 300 characters typed. However, the error rate of a barcode reader is estimated at 1 error per 35 trillion characters. Thus, from accelerating the checkout process in the retail industry to tracking inventories in warehouses, barcode scanners have eventually proliferated into a myriad of business operations. These scanners can not only help businesses in conserving their resources but in optimizing the data entry process, improving real-time visibility of the products, and enhancing the productivity of employees.

However, the proliferation of mobile barcode Software Development Kits (SDKs) is anticipated to hinder the growth of the market. Organizations with low-volume operations are particularly preferring smartphones over scanners for barcodes to reduce their operational costs. The adoption of Bring Your Own Device (BYOD) policies is also anticipated to encourage the adoption of barcode scanning apps over readers. In other words, any growth in the usage of smartphones for scanning barcodes can potentially take a toll on the demand for dedicated 2D barcode readers.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/2d-barcode-reader-market

Further key findings from the study suggest:

The global market for 2D barcode reader was valued at USD 6.39 billion in 2018 and is expected to exhibit a CAGR of 4.7% from 2019 to 2025
The handheld segment accounted for the largest revenue share of over 65% in 2018 and is anticipated to register a CAGR of 5.2% over the forecast period
The logistics segment is anticipated to exhibit the highest CAGR of 6.1% over the forecast period as transporters continue to deploy barcode readers at their logistics facilities
The warehousing segment dominated the market in 2018 and was valued at USD 2.60 billion as warehousing companies aggressively adopted 2D barcode readers to track inventories
The Asia Pacific regional market was valued at USD 2.66 billion in 2018 and is expected to register a significant growth rate owing to the booming e-commerce industry and the continued rollout of warehousing network, particularly in developing countries, such as India and China
The key players dominating the 2D barcode reader market include Zebra Technologies Corporation, Datalogic S.p.A., Cognex Corporation, Honeywell International Inc., and Keyence Corporation, among others