Photonic IC Market Projected To Reach $3.54 Billion By 2024

The photonic IC market is expected to reach USD 3.54 billion by 2024 according to a new report by Grand View Research, Inc. Photonic IC is an integrated circuit that uses optical wavelength as an information signal and provides multiple integrated photonic functions. Photonic IC, as such, is similar to an electronic IC and can be a viable replacement for it as well as for the copper-based wired transmission. Photonic IC forms an integral part of lasers, optical amplifiers, modulators, and MUX/DEMUX components, which are extensively used in the optical signal processing, optical communication, biophotonics, and sensing applications. The growing demand for sensing and optical devices are expected to fuel the growth of the photonic IC market.

There is an increasing need for cost effective, power efficient, and compact PICs which would further propel the photonic IC market over the forecast period across the mobile broadband Internet access, high-performance computing, datacenter, and enterprise networking, along with metro and long haul data communications, among many others. The increasing adoption of the high-level integrated PICs and application-specific PICs would boost the photonic IC market to strive for greater functionality and new product development across a number of verticals.

The photonic IC market is anticipated to grow substantially due to the continuous technological advancements and the evolving end-user demands. The laser, optical amplifier, and MUX/DEMUX component segments possess enormous growing opportunities, owing to the ability of photonic ICs to incorporate new optical functionalities that can be embedded on a single chip to achieve high efficiency and compactness.

The increasing demand for the optical communication and sensing applications is driving the growth of photonic ICs around the globe with an efficient management of datacenters and long haul networks providing a thriving market for them. Moreover, with the advancements in quantum computing, the adoption of photonic ICs are increasing as they allow multitasking that quantum computing readily requires. Also, the growing adoption of the biophotonic application in medical devices also holds considerable growth opportunities for the photonic ICs market. On the other hand, the high bandwidth and optimum performance requirements of the telecommunication industry, data storage, cloud service providers, and large business enterprises are expected to boost the optical communication and signal processing segments. This market will create many new opportunities culminating in an increased adoption of photonic ICs over the forecasted period.

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http://www.grandviewresearch.com/industry-analysis/photonic-integrated-circuit-ic-market

Further key findings from the report suggest:

There is a growing need for higher bandwidth and greater transmission speeds across the Information and Technology (IT) industry. Photonic ICs can be incorporated into the existing products to fulfill this demand in diverse industry verticals to transmit, receive, and switch high-speed digital signals in communication networks. Progressive research and developments are being made towards the low-cost, high-performance optics to help lower the cost of the high-speed Internet access and boost the efficiency of the telecommunication networks
The growing shift towards quantum computing and machine learning, among others, requires enormous parallel computing capabilities. The optical quantum computers can perform much faster than the traditional computers in terms of multitasking, higher level of integration, and efficiency while consuming lower power. This will open new avenues for photonic IC-based computing services across a wide range of verticals.
Broadcom Limited (U.S.), Viavi Solutions, Inc. (U.S.), and NeoPhotonics Corporation (U.S.) are some of the major industry players in this domain. Other key vendors include Oclaro, Inc., Kaiam Corp, Luxtera Inc., Infinera Corp., Finisar Corporation, Ciena Corporation, and Emcore Corporation, among others.

Commercial UAV Market Size To Reach $2.07 Billion By 2022

The global commercial UAV market size is expected to reach USD 2.07 billion by 2022, according to a new study by Grand View Research, Inc.

Increasing applications in agriculture and law enforcement are expected to drive the commercial UAV industry growth over the forecast period. Commercial drones are finding applications across various industry verticals globally. Every industrialized country in the world is making investments in drones, thus driving the scope and technological developments for applications in the commercial UAV market.

Drones are contemporary alternatives for activities, where human life cannot be risked. Such drones find applications in various industrial verticals including military, homeland security, retail, and agriculture. The demand is significantly higher for military applications, although commercial applications are progressively catching up.

Aviation regulatory bodies such as the Federal Aviation Administration (FAA) have imposed restrictions on the use of such drones taking into consideration the difficulties in managing such huge air traffic and the safety of the citizens. However, the FAA is known to be undertaking an initiative to accelerate the UAV approval process for public safety agencies and broaden access to civilian organizations for a variety of commercial, industrial, and other applications.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/commercial-uav-market

Further key findings from the study suggest:

Rotary blade drones accounted for over 70% of the global market share owing to their easy maneuverability and compact design. Moreover, such single and multi-rotor drones equipped with rotary blades have Vertical Take-Off and Landing (VTOL) abilities for applications, where there is limitation of space for fixed blade drones to take off. The development of advanced hybrid UAVs that operate on non-conventional sources of energy and nano, small miniature drones serve multiple applications across various industry verticals.
Government applications dominated the global commercial UAV industry constituting over 40% of the market share in 2014. Increasing applications in law enforcement, security and surveillance, R&D activities, infrastructure, disaster management, and environmental studies have led to an increased demand for such unmanned aerial vehicles from the concerned government agencies. Innovative applications across agricultural sector have made it the fastest growing application segment, which is projected to grow at a CAGR of over 18% from 2015 to 2022. Special agricultural drones can take snapshots of fields and help in analyzing crops. In addition, fix winged drones can be used for applications such as watering, spreading seeds, fertilizers, and pesticides over large farm fields that drastically reduce the time required and increase the efficiency.
North America is expected to grow at a CAGR of over 16% over the forecast period on account of concentration of major drone manufacturers and increasing applications in the commercial sectors in the region. Governments and technology giants across the world are striving hard to provide internet to the people as a basic necessity. Facebook Inc. recently acquired Ascenta, a drone manufacturer for its pilot project to provide internet in remote areas using drones as movable wireless access points. Relaxation in regulations and increasing use of drones in law enforcement activities in Europe have led to the regional industry growth.
Major industry participants include AeroVironment Inc., BAE Systems, DJI, Elbit Systems, Parrot SA, Israel Aerospace Industries, The Boeing Company, and Textron Inc. Manufacturers resort to mergers and acquisitions as their key growth strategy to make their presence felt in the industry. Augmented funding, technological collaborations, and government agencies are expected to emerge as critical success factors for industry growth.

Healthcare Cloud Computing Market Size Worth $27.8 Billion By 2026

The global healthcare cloud computing market size is expected to reach USD 27.8 billion by 2026, according to a new report by Grand View Research, exhibiting a CAGR of 11.8% over the forecast period. The associated benefits of data analytics and increase in demand for flexible & scalable data storage by healthcare professionals is expected to drive the demand for these services over the forecast period.

Healthcare organizations are digitalizing their IT infrastructure and deploying cloud servers to improve features of systems. These solutions help organizations in reducing infrastructure cost & interoperability issues and aid in complying with regulatory standards. Hence, rising demand from health professionals to curb IT infrastructure costs and limit space usage are anticipated to boost market growth over the forecast period.

Increase in government initiatives undertaken to develop and deploy IT systems in this industry is one of the key drivers of this market. Moreover, increase in partnerships between private & public players and presence of a large number of players offering customized solutions are some of the factors anticipated to drive demand in the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/healthcare-cloud-computing-market

Further key findings from the report suggest:

Non-clinical information systems such as revenue cycle management, health information exchange, financial management, etc., accounted for the largest revenue share in application segment in 2018
Financial management segment held 23.0% share of the non-clinical segment in 2018 while billing and accounts management is expected to grow at the considerable CAGR during the forecast period
Private deployment model dominated the overall market owing to its benefits and ease of usage
Software as a Service (SaaS) model accounted for the largest revenue share as of 2018 as it is widely accepted. This model enables access to applications on a cloud from various devices
Pay-as-you-go pricing model is anticipated to gain popularity in the coming years, as the consumer only pays for services being used
North America dominated the market with a share of over 55.0% in 2018. This can be attributed to an increase in demand from payers as well as providers
Some key players of this healthcare cloud computing market include Athenahealth, Cerner Corporation, CareCloud Corporation, Carestream Corporation, Epic Systems Corporation, Dell Inc., and Sectra AB
Companies are forming various strategic alliances with clinical research organizations and medical devices companies to further expand their profit margins in the healthcare IT sector. These type of strategic collaborations are expected to aid market growth in the coming years.

Rice Seeds Market Size Worth $11.2 Billion By 2025

The global rice seed market size is expected to reach USD 11.2 billion by 2025, according to a new report by Grand View Research, Inc., registering an 8.1% CAGR during the forecast period. Rice is part of the staple diet in most countries in Asia Pacific and this is expected to have a positive impact on market growth. Furthermore, high popularity of these products in the formulation of various delicacies such as pancakes, cakes, breads, cookies, pastas, and sweets is expected to remain a favorable factor over the next few years. In southern and eastern Asia, rice wine is also very popular, which is likely to keep demand steady. The several nutritional properties that rice possesses is also creating traction in the market.

Over the past few years, some of the companies have been increasing their spending toward the development of rice seeds. In July 2018, the Philippine Center for PostHarvest Mechanization and Development (PhilMech) joined efforts with Murcia, Negros Occidental to launch the “Brown Rice Processing Impeller Technology” project. This project is expected to assist farmers from Murcia in marketing their products along with being profitable with its 72% milling recovery.

Bayer AG, a German multinational life sciences company, in January 2018 launched a hybrid rice seed Arize AZ 8433 DT. The variety is said to be resistant against the most destructive pests and insects, resulting in reduction in the use of pesticides and insecticides, ultimately, saving costs. It is expected to yield 20% to 30% more than other conventional seeds. Bayer has been focusing on pest infestation for a long time and has introduced this product variant using an innovative technology that is built on the marker-assisted breeding technique.

In April 2019, agricultural scientists from China bred 78 new rice varieties and are available under the product line “Green Super Rice”. These varieties have been gaining popularity owing to the fine quality of the harvest, along with high and consistent yield. Their requirements pertaining to fertilizers, pest control, and water are lesser than conventional seeds and can survive rough weather conditions too. The rice seed market for these varieties is projected to be extremely favorable in countries across Asia and Africa.

Organizations from across the globe are forming strategies to benefit from growing product demand. In February 2019, Ricetec announced the use of ClearAg’s artificial intelligence (AI)-based platform for rice modelling research and development. With this, RiceTec will have 24/7 access to smart content pertaining to forecast, field-level current, weather and historical soil intelligence. The move is expected to enhance the sustainability of agriculture systems. Likewise, Savannah Seeds Pvt. Ltd., an Indian company, acquired the assets of Ganga Kaveri & Spriha Seeds in February 2019 to strengthen its foothold in the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/rice-seed-market

Further key findings from the report suggest:

The hybrid product segment accounted for more than 70.0% of the global revenue in 2018, enjoying a leading position in the market. Hybrid rice seeds possess a number of advantages over conventional variants, such as enhanced yield, vigor, and resistance to disease and pests
The long grained segment is expected to register the highest CAGR of 9.2% from 2019 to 2025 owing to their usage in various delicacies. One of the most popular long-grained products is basmati, which is grown exclusively in India and Pakistan
Asia Pacific accounted for the dominant share of over 80.0% in 2018. Rice is part of the staple diet in most countries in the region and this is expected to continue driving product demand over the forecast period
Europe is projected to be the fastest growing market, with U.K. emerging as the leading revenue generator in 2018

Smart LED Lighting Market Worth $34.18 Billion By 2025

The global smart LED lighting market size is expected to reach USD 34.18 million by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 24.6% during the forecast period. High demand for smart home appliances as a result of improved standard of living of working class professionals is expected to drive the market. Furthermore, the governments of various countries including U.S., U.K., Germany, and Spain are encouraging corporate houses and industries to use smart LED lighting as they can save up to 90% of energy.

Wireless product is expected to be the fastest growing segment, at a CAGR of 26.6% from 2019 to 2025. The usage of Internet of Things (IoT) based smart sensors for smart city applications has been increasing as a result of the advancement of wireless communication systems. Furthermore, product innovation in terms of introduction of voice recognized LED lights is expected to open new market avenues in near future.

Hybrid technology is expected to remain the leading segment in near future. The predominant use of smart LED lighting systems with hybrid technology in corporate houses, manufacturing industries, and government organizations on account of their easy availability from various distribution channels is expected to have a strong impact on the market growth. This technology is also very helpful in greenhouse farming for providing adjustable light intensity and heat.

Online channel is projected to remain the key distribution channel over the next few years. Amazon, Flipkart, and AliExpress are some of the e-commerce portals offering a wide range of products. Various value-added services including cash-on-delivery, discounted prices, and coupon benefits offered by e-commerce portals are expected to prompt the buyers to use offline channels as selling medium over the next eight years.

North America is anticipated to register the fastest CAGR of 28.4% from 2019 to 2025. Supportive government policies for energy conservation coupled with increasing per unit electricity cost in U.S. and Canada is expected to promote the product sales in the region over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-led-lighting-market

Further key findings from the report suggest:

Wired products segment generated a revenue of USD 6.02 billion in 2018
ZigBee technology is expected to expand at a rapid CAGR of 32.3% from 2019 to 2025
Europe led the global smart LED lighting market in 2018 with a revenue of USD 2.69 billion
Some of the key players operating in smart LED lighting market are Cree Inc.; Eaton Corporation; Koninklijke Philips NV; ABB Limited; Wipro Limited; TVILIGHT B.V.; The SSK Group; Digital Lumens, Inc.; Acuity Brands Inc.; Bridgelux, Inc.; and OSRAM Licht Group. Product innovation is expected to remain the key competitive strategy for the industry participants

Biocomposites Market Size Worth $46.3 Billion By 2025

The global biocomposites market size is projected to reach USD 46.3 billion by 2025, according to a report by Grand View Research, Inc., exhibiting a 12.5% CAGR during the forecast period. Increasing use of biocomposites in end-use sectors such as automotive, building and construction, electrical and electronics, and consumer goods is the main driver triggering the biocomposites market. Additionally, changing consumer preference from plastic composites to ecofriendly biocomposites is expected to spur market growth over the forecast period.

Biocomposites are composite materials made from natural fiber such as wood or non-wood fiber, along with polymer resin. Their use in various sectors is increasing due to their eco-friendly characteristics. They are effectively being used as a substitute for plastic composites. Strict environment laws are also favoring their usage.

Use of biocomposites made from wood fiber is growing as an increasing number of forests are under systematic and sustainable utilization. Wood plastic composites are manufactured from wood fibers. Use of natural polymer is also increasing as a result of push for 100% biodegradable products. There is a significant demand for 100% biodegradable products in developed markets of North America and Europe.

The handling of plastic waste globally is a serious issue as plastic products do not decompose easily. In order to tackle this problem, a number of governments have banned plastic products and are promoting the use of biocomposites as a substitute for plastic composites. Furthermore, they are used as a substitute for metal and alloys in automotive nonstructural parts such as parcel shelves and interior panels. Use of biocomposites in the automotive sector is likely to help in decreasing the overall weight of a vehicle and also reduce instances of injuries to passengers in cases of accidents. Similarly, surging demand in electrical and consumer durables sectors is expected to drive the market.

Rising disposable income in developing countries such as China and India and growing awareness about biocomposites and their advantages are key factors expected to drive the market in the region. Ban on non-reusable plastics in Europe is driving demand in the region.

A number of key players in the industry are investing in research and development of eco-friendly and high strength products. Some players have also integrated their operations throughout the value chain in an attempt to increase profitability and serve customers better.

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

Further key findings from the report suggest:

By type of fiber, wood fiber composites are expected to grow at the fastest throughout the forecast period
Transportation emerged as the largest end-use segment in the market, followed by building and construction
Asia Pacific is expected to be the largest regional market for biocomposites. It is also likely to be the fastest-growing regional market over the forecast period.

Health Information Exchange Market Worth $2.21 Billion By 2024

The global healthcare information exchange market size is expected to reach USD 2.21 billion by 2024, according to a new report by Grand View Research, Inc. The increasing need for greater access to patient health information is a potent driver of the health information exchange (HIE) market. Additionally, the increasing awareness pertaining to the HIE owing to the presence of government and non-profit organizations, such as Healthcare Information and Management Systems Society (HIMSS), is the major factor expected to drive the growth of the aforementioned industry over the forecast period.

Furthermore, the increasing focus towards advanced healthcare solutions along with the increased provision of funds from government organizations to expand healthcare information systems is expected to increase the adoption of HIE systems in the near future. For example, the presence of the Agency for Healthcare Research and Quality (AHRQ), which is instrumental in providing funds pertinent to HIE implementation in the U.S.

View summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/health-information-exchange-hie-market

Further key findings from the study suggest:

The private HIE segment dominated the setup type segment with respect to the revenue share of over 52.0% in 2015. This dominance is attributed to presence of larger number of service providers and higher cost efficiency in the above-mentioned segment.
Under the category of implementation model of HIE, the hybrid model segment is anticipated to grow at a lucrative rate due to the associated benefits, such as improved patient care delivery and enhanced operational efficiency of the practices
Kentucky HIE is a hybrid model implemented with an objective to provide patient information related to chronic disease management and preventive health via messaging, alerts, and other communication tools. Kentucky HIE also connects to the National Health Information Network (NHIN) and enables interoperability across various health systems.
On the basis of solution type, the platform-centric segment is expected to grow at a rapid growth rate in 2015. This can be attributed to the benefits associated with platform-centric solutions, such as storage of colossal amounts of data and facilitated HIE, thus the implied demand for the products in the health information exchange market.
In terms of applications, the internal interfacing segment is the fastest growing segment. The increasing need to connect with a larger number of patients through the use of patient engagement tools and internal interfacing is presumed to propel the demand for the HIE market.

As of 2015, North America dominated the HIE market at over 45.0% owing to the presence of vast number of companies, supportive reimbursement policies, and the increasing implementation of EHR
Asia Pacific is expected to grow rapidly at a CAGR of over 10.5% during the forecast period due to the rising disposable income levels, the increased awareness levels amongst healthcare practitioners regarding the HIE systems, the presence of outsourced HIE service providers, and the rising investments in the healthcare industry by the major players
Some key players in this sector are GE Healthcare, eClinicalWorks, Siemens AG, Orion Health, Inc., Medicity, Inc., IBM Corporation, CareEvolution, Inc., Cerner Corporation, RelayHealth Corporation, and Allscripts Healthcare Solutions, Inc.
The industry players are involved in strategic collaborations and mergers & acquisitions. The participants are striving to gain market penetration via offering end-to-end customized services to the potential consumers. For instance, in March 2016, Allscripts Healthcare Solutions, Inc. and AssistRX, Inc. entered into a partnership agreement to develop technologically advanced HIE solutions with enhanced speed and efficiency in prescribing specialty medications in the U.S.