Smart Elevator Market To Grow At A CAGR Of 14.8% From 2015 To 2022

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.

Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

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Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

IGBT And Super Junction MOSFET Market Is Expected To Reach USD 10.74 Billion By 2020

The global IGBT And Super Junction MOSFET Market is expected to reach USD 10.74 billion by 2020, according to a new study by Grand View Research, Inc. The need for high energy efficiency coupled with green initiatives is expected to be the key market driver over the forecast period. Changing consumer preferences have led to high demand for electric vehicles, which is also expected to drive power electronics adoption, and thus the IGBT & super junction MOSFET market.

The data center market has witnessed growth, which has spurred data center UPS market growth across organizations. High renewable energy demand has led to increased installation of wind turbines, which is expected to favorably impact the global market. The availability of alternatives to these products may restrain market growth over the next six years. Growing smart grid infrastructure is expected to serve as a considerable growth opportunity for companies operating in the market.

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Further key findings from the study suggest:

IGBT accounted for the majority of the overall market in 2013; this can be attributed to the significant IGBT module market. These modules are used in inverter applications, and enabling equipment miniaturization is expected to be the key driving factor for this segment. Reduced heat dissipation along with higher efficiency is expected to fuel the super junction MOSFET market over the next six years.
Electric and hybrid electric vehicles are expected to witness the highest growth over the forecast period. IGBT is largely used in these vehicles as compared to its counterpart, which is mainly on account of low cost and a considerable number of application areas such as in lighting and infotainment. The proliferation of consumer electronics has positively impacted the converters/chargers segment.
Asia Pacific is expected to remain the dominant regional market over the next six years; it accounted for over 35% of the market share in 2013. High demand for efficient power semiconductors across end-use industries is expected to fuel the regional market over the forecast period.
Notable industry participants include Infineon Technologies, STMicroelectronics, Fuji Electric, Vishay Intertechnology, and Mitsubishi Electric. Establishing a strong global presence and a competitive product portfolio are among other key initiatives adopted for sustaining in the market.

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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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.

CMOS Image Sensors Market Size Worth $10.17 Billion By 2020

The global CMOS image sensors market size was valued at USD 7.21 billion in 2013 and is likely to be worth USD 10.17 billion by 2020. Increasing demand for handheld equipment such as tablets and smartphones has initiated the development of smart sensing approaches with remote diagnostic and monitoring capability.

Global market was 1,601.8 million units in 2013 and is anticipated to reach 2,643.4 million units, growing at a CAGR of 7.5% by from 2014 to 2020. The industry has observed tremendous growth over the past few years owing to the growth of its application industries, particularly medical and automotive. In addition, technological innovations leading to the evolution of refined sensing technology are expected to drive growth.

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Dexterity to manufacture smaller pixel devices and provide high resolution with cost effective approach is expected to be one of the primary factors driving growth. Rising demand for computation and communication equipment has led to a growing need to develop upgraded processes for better optical administration. The requirement for on-chip integration and focal plane processing are still on improvement phase.

Consumer electronics was the largest application accounting for over 50% of the total market revenue in 2013. These sensors are widely used in numerous consumer electronic devices including entertainment devices, home appliances, communication products, and information technology. The CMOS image sensors market for consumer electronics is likely to grow at a CAGR of 3.3% from 2014 to 2020.

With an increasing focus on research & development, sensing equipments have become smaller, cheaper, and more power-efficient, which serves as a gratifying opportunity for industry players. This is particularly beneficial to the healthcare industry as these products help in improving diagnostics and provide appropriate treatments that rely on this technology. Medical applications are anticipated to grow at a CAGR of 9.9% from 2014 to 2020.

Multimedia-enabled equipment provides more benefits with more data safety over the internet. The application of sensing devices for indoor navigation, health monitoring, and related niche segments is anticipated to offer prominent growth opportunity for prosperity of this market. These gadgets are predominantly used in the U.S., however, the market is anticipated to witness significant gains in emerging economies such as China, India, and Brazil.

North America CMOS image sensors market exceeded 30% of the total revenue share in 2013. Focus on technological advancement coupled with high adoption rate of new technologies and gadgets have resulted in established of a large market in the region. However, the market has reached its maturity phase and is anticipated to grow at a CAGR of 4.1% from 2014 to 2020.

Asia Pacific is expected to witness significant gains over the forecast period at a CAGR of 6.6% from 2014 to 2020. The market was valued at USD 2.37 billion in 2012. Availability of large number of semiconductor manufacturers in Asia Pacific, especially in Japan, China and Korea, is projected to bolster market growth in this region. Presence of cheap labor and establishment of production facilities by foreign organizations are anticipated to favorably affect industry growth in this region. Growing demand for latest gadgets owing to increase in disposable income of consumers is anticipated boost market growth to reach an estimated value of USD 3.95 billion by 2020.

Key players include OmniVision Technologies, Sony Corporation, Canon Inc., and Samsung Electronics. Sony Corporation and Samsung Electronics are projected to dominate the CMOS image sensors market in the near future. Companies are constantly engaging in research & development to introduce innovative products in the market.

Samsung Electronics Co. Ltd. has announced its new 8-megapixel R-W-B sensing device based on ISOCELL and NFC integrated circuit technology with advanced frequency performance.In March 2015, OmniVision Technologies Inc. launched the OV8865, a CMOS image sensor positioned on OmniBSI-2 pixel planning. It is utilized in high speed photography with low power consumption application. Samsung Electronics Co. Ltd. introduced a 280-megapixel APC-C image sensor, which employs advanced 65-nanometer and illuminated pixel technology to implement energy-efficiency and better picture aspect.

Endpoint Security Market Size Worth $27.05 Billion By 2024

The endpoint security market size is expected to reach USD 27.05 billion by 2024, according to a new report by Grand View Research, Inc. The endpoint security market is expected to witness a substantial growth over the forecast period, due to the increasing deployment of various security solutions with rising security risks across several applications including BFSI, IT & telecom, and retail.

The rising number of enterprise endpoints and mobile devices having access to critical enterprise data have created a huge demand for endpoint security solutions in the market, which is anticipated to drive the market.

Moreover, emerging trend of virtualization is projected to affect endpoint security. Virtualization separates physical systems into several virtual machines, which will require similar endpoint protection as physical servers. Hence, escalating the demand for more efficient and comprehensive solutions over the forecast period.

Several companies in the industry are spending on different technologies to improve capabilities, secure internet protocols, test software and analyze vulnerabilities. The evolution of cloud storage has increased the adoption of cloud-based security services; the as significant amount of data is stored in one place. This has led to increased threat of data breaches and enforcement of various regulations to curb the risk of placing the data on the cloud.

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Further key findings from the report suggest:

The mobile device security segment witnessed revenue share of over 17% in 2015, which is anticipated to grow at a CAGR of nearly 16% over the forecast period. The increasing adoption of BYOD trend have led the employees in organizations to access corporate data on their personal mobile devices. However, it creates security challenges, which requires advanced endpoint security solutions to safeguard sensitive business information resulting in high demand.
Enterprises dominated the market in 2015, and is estimated to grow at a CAGR of over 13% from 2016 to 2024. SMBs are also anticipated to witness substantial growth over the forecast period due to the rising adoption such safety solutions to prevent crucial information. Organizations of all sizes are transitioning their business-critical operations and workloads to cloud computing to decrease the burden on their IT support staff, reduce costs and provide advanced services. The increasing adoption of cloud technology have led security vendors to develop cloud-based security solutions on a large scale.
IT & Telecom industry dominated the market with the revenue share of nearly 25% in 2015 and is anticipated to witness significant growth over the next eight years. The industry has evolved through significant expansion phase and have stringent legal and information security requirements. Further, rising acceptance of BYOD trend is anticipated to drive the industry demand.
Moreover, the BFSI sector offers substantial potential for the market as it is continuously visualizing the regional; instability, terrorism, physical risks, criminal networks and modern threats originating from cyber sabotage and opaque sources. The rising regulation in the finance sector is further contributing towards the industry growth.
The North America is estimated to dominate the market with a share of over 32% in 2015 growing at a CAGR of nearly 11% over the next eight years. Asia Pacific regional market accounted for over 19.0% of the global market share in 2015 and is expected to grow with a CAGR of 13.2% over the next eight years. Stringent regulations across Asia Pacific are expected to fuel the demand for efficient endpoint security solutions driving the demand in this region. Countries including China, India, Malaysia and Australia are investing heavily in endpoint security to fight against cyber threats and attacks.
The key industry participants include Microsoft Corporation, Kaspersky Labs, Panda Security SL, Symantec Corporation, Sophos Ltd, Cisco, Bitdefender, ESET, IBM Corporation, F-Secure, Intel Security Inc. (McAfee) and Trend Micro Incorporated. The vendors involve in frequent merger & acquisitions to increase their geographical presence and product portfolio to gain competitive advantage.

Brazed Plate Heat Exchangers Market Size Worth $1.4 Billion By 2025

The global brazed plate heat exchangers market size is anticipated to be valued at USD 1.4 billion by 2025, accelerating at a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising urbanization and infrastructure developments have resulted in an increased demand for heat management systems. As a result, the demand for this market is likely to boost over the forecast period.

The small footprint of brazed plate heat exchangers has resulted in their high adoption rate in industries including HVAC, chemical, petrochemical, oil & gas, power generation, and pharmaceuticals. These exchangers offer low maintenance cost and are energy efficient. Increasing demand for energy-saving products is expected to further boost the market growth over the forecast period.

Single circuit segment was valued at USD 298.3 million in 2018 and it is expected to reach USD 470.8 million by 2025. Single circuit brazed plate heat exchangers are used for water heating applications and are highly utilized for the construction of heat pumps. Multi-circuit was the dominant segment in 2018, valued at USD 560.8 million, and it is expected to reach USD 950.0 million over the forecast period. Multi-circuit brazed plate heat exchangers are majorly used in industries with high production levels.

HVAC application segment was valued at USD 209.1 million in 2018 and is expected to be valued at USD 377.1 million over the forecast period. Brazed plate heat exchangers are highly adopted by the HVAC industry owing to their small footprint and energy efficiency. Increasing construction of residential and commercial buildings has resulted in an increased demand for HVAC systems, which, in turn, has triggered the product demand.

The U.S. is expected to be the largest market by 2025 owing to an increase in the construction of residential and commercial buildings and increasing establishment of industries. Germany is expected to be the second-largest market over the forecast period owing to high rate of infrastructural development. Increasing investments in infrastructure development in Asia Pacific region are expected to boost market growth in the region over the forecast period.

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Further key findings from the report suggest:

The U.S. market, in terms of revenue, is projected to progress at a rate of 8.5% over the forecast period
German market was valued at USD 113.3 million in 2018 and is expected to reach USD 188.3 million over the forecast period
Industrial application segment was valued at USD 219.5 million in 2018 and it is expected to reach USD 336.8 million by 2025 with the increasing product demand in this segment
As of 2018, India was among the largest markets in Asia Pacific and is expected to reach USD 125.8 million over the forecast period.

DC Motor Control Devices Market Size Worth $1.18 Billion By 2025

The global DC motor control devices market size is expected to reach USD 1.18 billion by 2025, exhibiting a CAGR of 6.2% from 2018 to 2025, according to a study conducted by Grand View Research, Inc. DC electric motors are being widely used in modern systems, whether in consumer electronics, or industrial, automotive, and transportation industries. Improved performance of these motors in such applications is a result of the underlying electronic controls that are able to rapidly execute sophisticated control algorithms. Thus, increasing demand for motors in such applications, coupled with improved motor performance, is anticipated to drive the market over the forecast period.

Sensorless motor control devices are generally used to reduce overall cost of actuating devices. However, with advancements in sensor control techniques, the market for DC motor control devices is anticipated to gain traction over the forecast period. Furthermore, recent market requirements, such as compatibility with IE3 motors, and changes in motor control systems in several application areas such as industrial, consumer electronics, and medical devices are expected to favor market growth over the coming years.

The market is expected to witness significant demand from the automotive industry owing to introduction of vehicle safety standards to control fuel emissions and increasing adoption of engine control units (ECUs) in modern automobiles. Additionally, growing R&D activities to improve energy efficiency of electric motors are anticipated to boost market growth. For instance, the U.S. Department of Energy invested a substantial amount in 13 R&D projects pertaining to technological advancements in electric motors. These advancements are expected to positively impact the efficiency and performance of motor devices when used in various end-use industries.

However, factors such as uncertainties in raw material prices, limited availability of components, and reduction in overall production of raw materials are contributing to increased product costs, thereby negatively impacting market growth. In order to overcome these challenges, major companies are undertaking several measures to maintain consistency in prices and availability of raw materials. These companies have been entering into long-term supplier contracts to mitigate risks associated with quality and quantity of materials.

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Further key findings from the report suggest:

North America accounted for more than 25.0% of the overall market in 2018 and is expected to witness steady growth over the forecast period owing to presence of key market incumbents such as Eaton Corporation Plc and ABB offering cost-effective solutions and quality products
The consumer electronics segment accounted for a significant in 2018 and is anticipated to grow at a substantial CAGR over the forecast period owing to increasing demand for handled devices and home appliances in developing countries such as India and China
Prominent players in the DC motor control devices market include ABB, Eaton Corporation Plc, General Electric, and OMRON Corporation. These companies are extensively investing in research and development activities in order to introduce compact products.

LED Lighting Market Size Worth $127.04 Billion By 2027

The global LED Lighting market size is expected to reach USD 127.04 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.4% over the forecast period. The LED lighting offers benefits such as energy efficiency, cost-saving, longer service life, lower heat emission, and nanosecond switching capability, fueling the product demand in the market. Advantage of directional controlled light is anticipated to further drive the demand. Technological advancements and availability of numerous design options for fixtures and lamps due to compact shape and features, such as daylighting, occupancy senor, dim-ability, and timer, are anticipated to positively influence the growth. The energy conservation policy introduced by governments across the world, providing incentives, and attractive rebates for individuals and organizations in commercial and industrial spaces has further contributed to market growth.

LED lighting is widely adopted across commercial and industrial space as the LED lights contribute towards delivering maximum visibility for an appropriate work environment. The introduction of LED in the lighting industry readily became an accepted standard for lighting for commercial and industrial buildings. Moreover, technological advancements such as connected and app-controlled lighting proved to be vital for boosting the market growth. Improvements in lighting technology have led to the emergence of flicker-free LED products, which is appropriate for uninterrupted bright light for application areas such as classrooms, hospitals, and offices, among other spaces. The demand across the residential sector is expected to bolster with the development of smart cities providing lucrative growth opportunities for prominent market players.

The pandemic due to COVID-19 has affected the industries across the world and severely impacted the business functions. The need for a lockdown has adversely impacted the businesses leading to reduced employee strength and forced companies to practice social distancing across countries. The demand for indoor and outdoor general lighting is declining owing to the reduced spending capacity of individuals and budget constrain across industries such as retail, manufacturing, and other businesses as they are incurring losses. The delay in construction projects is another concern for LED lighting vendors, which has led to a decline in the performance for the first quarter of the year 2020. The market is expected to recover post-pandemic and achieve positive revenue growth by the end of 2021.

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

Further key findings from the report suggest:

LED Lighting is estimated to grow at a CAGR of 13.4% over the forecast period 2020 to 2027. The higher demand for illuminating the commercial and industrial space as per the aesthetics of the rooms for better visibility at an affordable price has driven the market growth over the forecast period.
The lamp segment is anticipated to witness the highest growth of a CAGR of 14.5% over the forecast period. The demand is primarily driven by the residential sector owing to encouraging government policies and initiatives.
The Asia Pacific region is expected to dominate the market during the forecast period is anticipated to grow at a CAGR of 14.6% from 2020 to 2027

Microcontroller Socket Market Size To Reach $1.46 Billion By 2024

The global microcontroller socket market is expected to reach USD 1.46 billion by 2024, according to a new report by Grand View Research, Inc. The increasing development and growth of automation and re-automation in the emerging countries are expected to fuel the industry growth.

The growth of automation has led to miniaturization and digitization as well as facilitates dynamics in the field of technology. The increasing need of providing high performance with power efficiency has further led to the development of automation technology at a rapid pace. The increasing labor costs and the growing demand for higher quality have encouraged the industry participants to opt for automated equipment in the programming process.

Gradually reducing the package size in the microelectronics industry has also impacted the market growth in a positive manner. industry requirements, such as higher density, increased operating speed, and lower power, have driven packaging in the industry, which has further led to an enhanced demand within the market.

Furthermore, the demand for thinner, smaller, and lesser expensive device packaging has also encouraged manufacturers to control the programming cost. The increasing demand in automotive, consumer electronics, medical devices for more accurate data, and in military & defense for enhanced security has also encouraged the industry participants to further reduce the package size.

Intense competition in the market has led the industry participants to enhance the product quality and process technologies as per the market requirement. However, failure to develop new designs and delays in developing new products with advanced technology may adversely affect the manufacturer market.

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Further key findings from the report suggest:

The microcontroller socket market is expected to boost over the forecast period owing to the increasing microcontroller applications in various segments
The QFP socket is expected to grow at a CAGR of over 7% from 2016 to 2024, owing to the growing trend of automation and re-automation in the emerging countries
The automotive segment is projected to dominate over the forecast period owing to the huge application of the socket in the manufacturing of automobiles, such as body electronics, for enhancing driver safety
The majorindustry players in the microcontroller socket market include Texas Instruments, Aries Electronics, Mill-Max Manufacturing Corporation, and Samtec, Inc.