Webcam Market Size Worth $11.60 Billion By 2027

The global webcams market size is expected to reach USD 11.60 billion by 2027, expanding at a CAGR of 8.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. Webcams can be connected to laptops and desktops for real-time recording at any given location. Growing need for security and surveillance systems to capture intruders, trespassers, and miscreants in commercial as well as residential premises is expected to drive the product demand over the forecast period.

These devices are widely being deployed in the corporate sector for video conferencing and telecommuting for more accessible communication with counterparts at distant locations. Hence, key market participants are emphasizing on new model launches and technological advancements to cater to the demand for devices with higher recording, streaming, microphone, and zoom quality.

For instance, in December 2019, Logitech launched a 4K Ultra HD webcam for Mac Pro with Right Light 3 technology, enabling automatic adjustment of lightening conditions for better video quality. Moreover, emergence of advanced video cameras with the capability of connecting the entire conference of people to a single user is propelling market growth.

Furthermore, multiple attributes of webcam technology have extended its scope in the healthcare sector to assist the patients suffering from chronic diseases and emergency situations. These devices are highly being utilized for the telehealth consulting services as they provide simplified connectivity between patients and healthcare professionals through video conferencing on mobile devices or laptops.

Owing to the COVID-19 pandemic, governments of the profoundly affected countries have already announced national lockdowns and are mandating the public to maintain social distancing. Webcams are being used for communication and live virtual events due to in-home isolation worldwide for minimizing the social and economic impact of the outbreak. For instance, leaders of the G20 countries held a video conference summit for a discussion on preventive measures to be undertaken to reduce the impact of the current global pandemic.

Furthermore, governments are using Unmanned Aerial Vehicles (UAVs) for surveillance purposes as mobility restrictions are tightening worldwide owing to the COVID-19 pandemic. For instance, the State Police of Western Australia announced the deployment of drones for remotely monitoring recreational sites to ensure if people are following social distancing guidelines. In the light of the current scenario, market demand is expected to boost over the forecast period.

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

Further key findings from the report suggest:

By technology, analog webcams accounted for over 60.0% share of the total revenue in 2019
Based on distribution channel, e-commerce is expected to expand at the highest CAGR of 11.9% in terms of revenue from 2020 to 2027
In 2019, North America accounted for the largest revenue share of over 35.0%
Asia Pacific is expected to witness a significant increase in the product demand during the forecast period.

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.

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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.

Gaming Peripherals Market Worth $6.96 Billion By 2025

The global gaming peripheral market size is expected to reach USD 6.96 billion by 2025, registering a CAGR of 10.4% from 2020 to 2025, according to a new report by Grand View Research, Inc. The increasing number of online gamers and hardware improvements such as faster processors, graphics and sound cards has enabled a wider scope for the industry. In addition, the industry is also witnessing a high influx of revenue based on a high consumer spending for ultra-modern games. In the past two decades video games have progressed through many stages as gaming consoles have become more sophisticated in the recent years.

The scope of gaming hardware market has gone to a vast extent encompassing a lot of diversity of applications. To supplement the growth factors, investment is one of the value chain components that features the game or a large corporation dealing with large-budgets. On contrary, independent developers may also opt to fund their own platforms. Ongoing innovations are further expected to drive the market growth. For instance, in October 2019, Logitech G, a brand of Logitech introduced PRO X mechanical gaming keyboard that comes with swappable switches as a part of personalization. The new keyboard is a better choice for Esports professionals that exhibits a high reliability and features in enhanced designing.

Asia Pacific is expected to witness a rapid growth attributing to wide popularity of video games and high preference for entertainment and online gaming. India being a huge market for online gaming is gaining traction as digitalization is at its peak. Government initiatives such as ‘Skill India’ and ‘Make in India’ have been encouraging the development of gaming peripherals and entertainment industry. In addition, Indian consumers possess a huge liking for online games and are inclined toward spending on these peripherals.

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https://www.grandviewresearch.com/industry-analysis/gaming-peripherals-market

Further key findings from the report suggest:

The headsets segment is expected to expand at the highest CAGR from 2019 to 2025. The introduction of advanced features such as multiple connectivity option, noise canceling technology, adjustable controls, and high audio quality driving demand for headsets segment
The gaming consoles segment is expected to register the highest CAGR over the forecast period. This growth can be attributed to the introduction of consoles with wireless connectivity and increasing number of gamers globally
Wired segment is still a predominant aspect of technological growth as there is a robust demand for DVD games and other hardware such as joystick, mouse, and other peripherals
Online distribution is expected to gain a strong growth as developers now focus on developing their own platforms for release and distribution
North America held the largest market share in 2019 and is expected to maintain its dominance over the forecast period. Growing demand for advanced gaming peripherals such as wireless keyboard and mouse, 4K gaming console, and wireless headsets with noise cancellation technology for enhanced gaming experience is expected to drive the growth

Two Wheeler Hub Motor Market Size Worth $16.9 Billion By 2027

The global two wheeler hub motor market size is expected to reach USD 16.9 billion by 2027, expanding at a CAGR of 9.7%, according to a study conducted by Grand View Research, Inc. Increasing demand for electric two-wheelers and stringent government regulations for reducing the carbon footprint is projected to market growth. Furthermore, improved vehicle performance, reliability, and driving range are some factors that are projected to influence the demand for hub motors over the next seven years.

The increasing rate of environmental degradation through vehicular emissions has become a key concern for governments across the globe. Therefore, several governments are taking steps to promote the shift from traditional vehicles to eco-friendly transportation. Hence, the government has announced incentives on road tax, purchase tax, import tax, and low or zero registration fee for electric two-wheelers for both manufacturers and end-users. Moreover, substantial investments from automakers are estimated to cater to the increasing demand for electric two-wheelers. This, in turn, is expected to play a crucial role in the evolution of the market.

Asia Pacific dominated the two wheeler hub motor market in 2019 and is expected to continue its dominance over the forecast period. The region is majorly driven owing to the presence of electric two-wheeler and motor manufacturers in China. The country accounts for over 70.0% of the overall electric two-wheeler market in the region. Moreover, the growth in the electric two-wheeler industry in India, South Korea, and Japan is anticipated to trigger the demand for in-wheel motors.

Furthermore, several government regulations to promote the adoption for electric two-wheelers is one of the vital factor influencing the regional market growth. For instance, in 2018, the government of India increased financial support valued at USD 1.3 billion for electric vehicles under its FAME II program. The step was aimed at providing the demand-side incentives for electric two-wheelers, three-wheelers, cars, and buses. Such initiatives are anticipated to fuel the growth of the market from 2020 to 2027.

The market is fragmented in nature owing to the presence of several key manufacturers. However, the prominent electric two-wheeler manufacturers usually undergo strategic agreements with their suppliers to bridge the demand and supply gap of the industry. Some of the significant manufacturers in the market are NTN Corporation; Robert Bosch GmbH; QS Motors; and Schaeffler Technologies AG & Co. KG.

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https://www.grandviewresearch.com/industry-analysis/two-wheeler-hub-motor-market

Further key findings from the report suggest:

The electric bike segment is expected to dominate the market in 2019 and was valued at USD 4.6 billion in 2019 owing to growing penetration of electric bikes
The rear hub motor segment dominated the market and is anticipated to reach USD 15.7 billion by 2027. The high-power in-wheel motors are suitable for rear wheel installation as majority of the passenger weight is handled by the rear wheel. Hence rear hub motor provides better traction on the rear wheel
The market primarily includes power output such as below 1 kW, (1-3) kW, and above 3 kW. The below 1 kW segment dominated the market in 2019 and is projected to witness a CAGR of 9.1% from 2020 to 2027. These motors are best suited for electric bicycles, electric skateboards, and electric kick scooters
Asia Pacific is projected to account for majority share of the market over the forecast period due to the presence of majority electric two-wheeler and hub motor manufacturers. The region is anticipated to reach USD 9.4 billion by 2027
The prominent two wheeler hub motor market participants include QS MOTOR, Heinzmann GmbH and Co. KG., Robert Bosch GmbH, Schaeffler Technologies AG and Co. KG, and NTN Corporation

Vibration Control System Market Size Worth $6.7 Billion By 2027

The global vibration control system market size is expected to reach USD 6.7 billion by 2027, registering a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of the technology in healthcare applications is expected to drive market growth over the forecast period. Vibration control systems are being used in healthcare applications to mitigate the impacts of quiver on sensitive equipment such as DNA sequencing microarrays and Magnetic Resonance Imaging (MRIs).

The technology is also extensively used in the aerospace and defense industry to decrease the vibrations causing damage to the aircraft windshield, windowpanes, doors, and shipments. Based on system type, the market is segmented into motion and vibration control systems. The demand for motion control systems in automotive, power plants, and oil and gas industry has increased over the last few years. Motion control systems isolate the effects of quiver and shock in power plants, thereby increasing the demand for such systems among these industries.

Besides, the electronics and electrical industry, including industrial goods, is witnessing a paradigm shift in terms of increasing usage of vibration control methods. Moreover, the technology is also used in the industrial goods industry for isolating vibrations on electronic instruments and measuring equipment. In Asia Pacific, the market is anticipated to witness significant growth owing to the presence of major manufacturers in China. The low cost of capital and availability of cheap labor and material in the region is expected to drive the market in the region by 2027.

In North America, the vibration control system market is anticipated to witness considerable growth attributed to rising demand from aviation, healthcare, and defense sector in U.S. and Canada. U.S. is expected to dominate the market in North America owing to increasing use of the technology in automotive, electrical and electronics, and food manufacturing sectors.

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

Further key findings from the study suggest:

The market is anticipated to witness substantial growth during the forecast period, owing to the rising adoption in various industries, including healthcare, oil and gas, and aerospace and defense
The vibration control segment accounted for the highest market share in 2019, owing to growing demand for automation in power plants and oil and gas industries
The aerospace and defense industry is expected to register highest growth over the forecast period, owing to increasing stringent regulations by defense authorities and airlines authorities on system design
In Europe, the market held the largest share in 2019, owing to the presence of large number of automobile manufacturers in the region
Key players in the vibration control system market include ContiTech AG; Lord Corporation; Resistoflex (P) Ltd.; HUTCHINSON; Fabreeka; Sentek Dynamics Inc.; VICODA GmbH; Isolation Technology Inc.; Trelleborg AB; and Kinetics Noise Control, Inc. New product development and expansion remains the key strategy adopted by the leading manufacturers in the market.

Food Service Equipment Market Size Worth $44.66 Billion By 2025

The global food service equipment market size is expected to reach USD 44.66 billion by 2025, at a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Expansion of food service industry and demand for high-end technologies is creating new growth avenues for the market. Changing lifestyle of the working population coupled with high demand for ready-to-cook food is boosting the sales of refrigeration equipment. Moreover, increasing disposable income and the need to upgrade kitchen equipment are also contributing to the growth.

The kitchen purpose segment led the market in 2018. The segment is further categorized into cooking equipment and food and beverage preparation equipment. This equipment are an essential part of producing food for a large number of customers. The equipment is used to carry out different operation ranging from cooking, cutting, baking, and others to improve the productivity of food production operation.

The market for quick service segment is expected to expand at the highest CAGR over the forecast period and is expected to reach over USD 13.17 billion by 2025. Food service equipment are extensively used in restaurants for food processing and handling. Substantial growth of the quick-service restaurant, especially in Asian Countries such as China and India is expected to boost overall market growth in the forthcoming years.

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

Further key findings from the report suggest:

Full service equipment emerged as the largest segment in 2018 and is expected to expand at a CAGR of 4.4% over the forecast period
Cooking equipment is expected to expand at the highest CAGR of 5.8% over the forecast period
North America led the market in 2018. Technological advancements in cooking processes is providing avenues for new requirements and opportunities of restaurant equipment. The food industry in this region is also witnessing an urgent need for increased efficiency to deliver larger outputs along with lesser preparation cost
Key players operating in the food service equipment market include AB Electrolux; Ali Group; ITW; Middleby Corporation; and Dover Corporation Manitowoc Company Inc. among others

Human Machine Interface Market Worth $6.31 Billion By 2022

The global Human Machine Interface (HMI) market is anticipated to reach USD 6.31 billion by 2022, according to a report by Grand View Research, Inc. Developments in HMI programming software to integrate multi-vendor environment management ability is expected to fuel market growth over the coming years. In addition, advantages offered such as remote operation along with wide usage of HMIs in oil and gas and water treatment units for operating in harsh climates may also boost product demand significantly. This has also instigated companies to develop devices with better wear and tear properties.

Growing trend of protocol conversion for the exchange of data between all connected devices is anticipated to further catalyze HMI market growth. Moreover, technological advancements such as open platform architecture or OPA resulting in improvement of migration process is also likely to spur the demand in coming years.

Factors such as rising need for change in business process to incorporate HMIs along with high upfront capital may have adverse effects on the market development. Furthermore, awareness regarding HMIs among management and lower level staff along with the lack of experienced professionals may also affect the industry growth.

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http://www.grandviewresearch.com/industry-analysis/human-machine-interface-market

Further key findings from the report suggest:

Interface software market accounted for substantial revenue share in 2014. The segment is also anticipated to exhibit high growth with an estimated CAGR exceeding 10% over the next few years. This may be attributed to the increasing adoption of PC- based open source monitoring and controlling system worldwide.
Development of new and innovative displays along with emergence of industrial internet of things may contribute towards further growth in the display terminal segment.
Oil & gas emerged as the dominant application and accounted for over 20% of the overall revenue in 2014. This may be attributed to increasing demand from the oil & gas sector owing to the benefits offered by HMI regarding the flow of information inside a pipeline without updated monitoring capabilities for overcoming a particular problem.
HMI offers several benefits regarding driver safety and security by integrating solutions such as ADAS, ACC and LDW, which are expected to drive demand in the automotive industry.
North America HMI market is estimated to hold majority share and accounted for more than 30% of the consumption in 2014. Additionally, Asia Pacific is anticipated to exhibit high growth over the next few years. This may be attributed to the migration of manufacturing processes to developing regions in order to capitalize on labor cost and high availability of raw materials in this region.
Companies operating in the industry include GE, Eaton, ABB, Honeywell, Siemens, Omron, Rockwell Automation, Emerson Electric, etc.

Industrial And Commercial LED Lighting Market Worth $165.91 Billion By 2022

The global industrial and commercial LED lighting market is expected to reach USD 165.91 billion by 2022, according to a new report by Grand View Research, Inc. The high efficiency of LED lights combined with government regulations to ban incandescent lamps is estimated to drive demand over the forecast period.

The increasing shift towards the implementation of cost-effective systems is expected to proliferate demand. Concepts such as smart lighting which offer several benefits including comfort, safety, and security are projected to offer lucrative growth opportunities for the industry. For instance, the prevalence of various smart city schemes across the U.S. and Europe to reduce the consumption of energy and peak power demand is estimated to positively impact sales.

Stringent government regulations and ban on incandescent lamps and set up of minimum efficiency standards by various governments across the globe is further estimated to propel industrial and commercial LED lighting market. For instance, Brazil has banned 60-watt+ and 100-watt incandescent lamps since 2012. Additionally, various legislative actions taken to support these systems and the implementation of various energy-efficient programs are expected to be the critical parameter affecting the industry.

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https://www.grandviewresearch.com/industry-analysis/industrial-commercial-led-lighting-market

Further key findings from the report suggest:

The commercial lighting market accounted for over 50% of the overall industry in 2014. Growing demand for LED street lights across various countries including the U.S., China, and Germany is expected to foster growth. Further, increasing the construction of commercial buildings across the globe will impel demand.
The industrial segment is expected to witness considerable growth over the next seven years. High pressure to reduce operational and maintenance costs in industries and growing demand for less energy consumption are driving growth across this application.
Architectural LED lighting industry accounted for over 30% of the revenue in 2014 and is expected to witness strong growth, owing to the declining average price and continuous improvement in the luminous efficiency of white light.
Asia Pacific demand share exceeded 40% in 2014. Increasing construction of office spaces, commercial buildings, and retail stores across countries in Asia Pacific such as Australia, China, and India is estimated to drive the demand for general lighting.
Growing energy consumption is estimated to surge demand for efficient lighting technology over the next seven years. LED lights are environment friendly as it does not emit harmful gases resulting in hazardous disorders. It offers varied benefits such as high reliability, brightness, condensed size, and longer life span over incandescent lamps which are projected to contribute to revenue growth.
Notable companies comprise GE Lighting, Philips Electronics, Toshiba Corporation, Cree Inc., and Osram Opto. The company’s focus on extending the range of products and services to optimize vertical integration.

Microwave Oven Market Worth $12.70 Billion By 2022

The global microwave oven market size is anticipated to reach USD 12.70 billion by 2022, according to a new report by Grand View Research, Inc., rising at a CAGR of 2.8% during the forecast period. Improving the standard of living of consumers, a growing number of nuclear families, and increasing demand for frozen and ready-to-eat food are some of the key factors stimulating market growth.

A growing number of working women and preoccupied schedules of people in urban cities are likely to fuel the demand for ovens. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential appliance market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn will work in favor of the market.

Robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to stir up the demand for commercial appliances over the forecast period. In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food.

Macroeconomic factors such as growing population, rising disposable income of consumers, and increasing awareness of different cooking media such as microwave oven, grills, and barbeques are projected to impact the market positively.

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https://www.grandviewresearch.com/industry-analysis/microwave-oven-market

Further key findings from the report suggest:

The convection segment is poised to account for half of the overall market value by 2022
The grill microwave oven market is anticipated to be valued at around USD 4.50 billion by 2022
In 2016, North America was the leading revenue contributor in the market, with a valuation of around USD 3.5 billion
The household application segment accounted for a larger revenue share in 2016 and is likely to expand at a CAGR of around 3.0% over the forecast period
The key players in the market include Robert Bosch GmbH, Haier Group Corporation, Hobart, Hamilton Beach, Middleby Corporation Company, Whirlpool Corporation, and Sharp Corporation.

Washing Machine Market Size Worth $42.16 Billion By 2025

The global washing machine market size is expected to reach USD 42.16 billion by 2025, according to a new report by Grand View Research, Inc. Increased needs for differentiated products and services have led to an upsurge in investments for R&D activities. Ongoing advancements, such as coin laundry, crowdsourced supply, and on-demand services, are drawing investors toward the laundromat and laundry industries seeking minimal on-site management obligations. Moreover, the commercial laundry space is becoming more automated with the introduction of Internet-enabled features in the washing machines.

The increased number of dual-income households coupled with insufficient time for laundry has led to the growing demand for laundromats. Additionally, the growth in the hospitality sector in emerging countries and the advent of on-demand services are expected to propel the commercial washing machine growth. Furthermore, energy labels and energy efficiency policies have enabled manufacturers to focus on the development of energy-efficient products.

The growth in online laundry services is expected to have a positive impact on the commercial washing machine industry. The commercial washing machine market is characterized by the presence of key players who provide conventional washing and laundry services. However, the startups in this industry are struggling to fill in the gap by providing comprehensive solutions at a reasonable price.

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http://www.grandviewresearch.com/industry-analysis/washing-machine-market

Further key findings from the report suggest:

The fully-automatic washing machine industry is expected to be the fastest-growing segment owing to the growing shortage of time for household chores
The demand for washing large volume of the load is providing traction to the growth of the washing machines having a capacity of over 8 kg
The residential sector is anticipated to grow at a CAGR of over 5% throughout the forecast period due to the transition from semi-automatic to fully automatic washing machines.
The strong growing demand for residential products in the UAE and Saudi Arabia is contributing to the growth in the MEA region
The major players include LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corporation, and Electrolux AB
Emphasis on R&D is a major strategy adopted by the key players to generate financial profits and address the environmental and social issues through technologies and products