Artificial Intelligence Market Size To Reach $ 35,870 Million By 2025

The global artificial intelligence market is expected to reach USD 35,870.0 million by 2025 from its direct revenue sources, growing at a CAGR of 57.2% from 2017 to 2025, whereas it is expected to garner around USD 58,975.4 million by 2025 from its enabled revenue arenas, according to a new report by Grand View Research, Inc.

Artificial Intelligence (AI) is considered to be the next stupendous technological development, alike past developments such as the revolution of industries, the computer era, and the emergence of smartphone technology. The North American region is expected to dominate the industry due to the availability of high government funding, the presence of leading players, and strong technical base. Advances in image and voice recognition are driving the growth of the artificial intelligence market as improved image recognition technology is critical to offer enhanced drones, self-driving cars, and robotics. The AI market can be categorized based on solutions, technologies, end use, and geography.

The two major factors enabling market growth are emerging AI technologies and growth in big data espousal. The growing prominence of artificial intelligence is enabling new players to venture into the market by offering niche application-specific solutions. Furthermore, companies are also engaging in industry consolidations in a bid to gain competitive advantages. For instance, in January 2017, Microsoft Corporation acquired Maluuba for advancing in the deep learning and Artificial Intelligence (AI) landscape. Existing solution providers are innovating their product portfolio to include both hardware and software solutions.

The Asia Pacific regional market is expected to be the fastest-growing market, owing to the rapid improvements in information storage capacity, high computing power, and parallel processing, which have contributed to the swift uptake of artificial intelligence technology in end-use industries such as automotive and healthcare.

AI has the potential to reduce the burden on clinicians and provide an efficient tool to workforces for accomplishing their tasks in a better way. For instance, AI voice-enabled symptom checkers can better access a situation and assist patients to the emergency department when immediate treatment is required. AI is expected to resolve around 20% of unmet healthcare demands.

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Further key findings from the report suggest:

Growth in the volume of data being generated from different end-use industries is expected to provide traction to the technology adoption
The increasing adoption of image and pattern recognition in the Asia-Pacific region is expected to provide new growth opportunities over the forecast period.
The North America region is one of the early adopters of advanced technologies and renders organizations to adopt artificial intelligence capabilities at a faster pace.
The increasing amount of digital data (in the form of speech, videos, and images, from different social media sources such as IoT and consumer analytics) is driving the need for data mining and analytics. AI is extensively used by several media and online services such as Google Assistant, dialogue and voice recognition of Siri, Microsoft Cortana, image classification in Facebook & Google Photo, and Amazon’s Alexa.
The key industry participants include Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, IBM Watson Health, NVIDIA, Enlitic, Inc., Google, Inc., Intel Corporation, and Microsoft Corporation.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Liquid Analytical Instrument Market Size Worth $606.2 Million By 2025

The global liquid analytical instrument market size is expected to reach USD 606.2 million by 2025, according to a new study conducted by Grand View Research, Inc., registering a 5.5% CAGR during the forecast period. Increasing demand for liquid analytical instruments in food and beverage processing units for control and measurement of chemical composition of fluids is expected to drive the market.

Liquid analytical instruments are largely used in industrial manufacturing processes as they provide bias-free outcomes and rapid and accurate measurements. Increasing adoption of automated liquid analytical instruments in the pharmaceutical industry helps decrease human interferences and enable effective data control and monitoring. This is further anticipated to propel market growth over the forecast period.

Rapid and extensive development of the biotechnology industry, coupled with high adoption rate of precise analytical instruments, is expected to drive the market through 2025. Emergence of advanced technologies such as high-frequency liquid analysis and stream selection technology is further expected to fuel market growth.

Increasing demand for liquid analytical instruments for real-time data monitoring in end-use industries such as water treatment to enhance overall process efficiency is further contributing to market growth. Moreover, focus on protecting the environment and stringent environmental policies has propelled the adoption of liquid analytical instruments in various end-use industries such as chemicals, pharmaceuticals, and healthcare and biotechnology.

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Further key findings from the report suggest:

By instrument, infrared analyzers are expected to emerge as the fastest-growing instrument segment, registering a CAGR of over 6.5% over the forecast period. This can be attributed to benefits such as high-speed measurements and non-destructive analysis
Liquid analytical instruments are widely adopted in wastewater management applications as a result of increased demand for real-time data monitoring and growing awareness about environmental protection measures across the world
Liquid analytical instruments are widely used in the food and beverage industry to analyze liquid levels in non-alcoholic beverages, alcoholic drinks, and infusion beverages among others
North America is expected to retain its dominance in the market over the forecast period and is anticipated to reach USD 189.6 million by 2025. Market growth is fueled by increasing adoption of liquid analyzers in water management and biotechnology industries, in addition to stringent government regulations about environmental protection
Key industry participants include Honeywell International Inc.; Yokogawa Electric Corporation; ABB Ltd.; and Emerson Electric Co.

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Digital Transformation Market Size Worth $798.44 Billion By 2025

The global digital transformation market is expected to reach USD 798.44 billion by 2025, according to a new study by Grand View Research, Inc. The increasing necessity for the introduction of innovative solutions that are capable of engaging customers or employees to integrate process, data, IT and business and the increasing demand for the adoption of Internet of Things (IoT) are propelling market growth.

Digital transformation allows organizations to tackle disruptive changes such as marketplace fluctuation, and corporate restructuring, among others, occurring in their markets and customer base by designing new products, services, and business models leveraging digitalization. These newly designed solutions are generally a mix of digitally stored historical information about business activities and the customers Furthermore, they facilitate the transformation of traditional processes, business activities, and models to take advantage of the upcoming changes and opportunities of digital technologies.

Moreover, factors such as optimization of end-to-end customer experience and improvement in operational flexibility are promoting the growth of digital transformation along with the recognition of new revenue sources.

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Further key findings from the study suggest:

The hosted deployment segment is anticipated gain momentum owing to advantages such as convenience, lower cost, and better security. The segment is estimated to grow at a CAGR of 22.3% over the forecast period
The healthcare segment is presumed to find the highest growing application and is estimated to grow at CAGR of 19.5% over the next eight years. This can be attributed to the increasing focus of the healthcare providers towards improving the patient care by implementing digital process and technology
North America accounted for the largest share in 2016 owing to growing customer interaction through smart devices such as tablets, smartphones, and phablets, among others in this region
Furthermore, the presence of leading players such as IBM Corp., CA Technologies, and Hewlett Packard Enterprise Co, among others in the North American region is a key factor contributing to the regional market dominance
The Asia Pacific regional market is expected to grow at the highest CAGR over the next eight years. This can be attributed to the growing demand for the application of the Internet of Things.
The key industry participants include SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Dell EMC, Hewlett Packard Enterprise Co., CA Technologies, Microsoft Corporation, Adobe Systems Incorporated, Accenture plc, Capgemini Group, Apple Inc., and Kellton Tech Solutions Ltd.

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Vision Positioning System Market Size Worth $9.68 Billion By 2025

The global vision positioning system market size is expected to reach USD 9.68 billion by 2025, according to a new report by Grand View Research, Inc., registering a 12.0% CAGR during the forecast period. Increased applications in healthcare, defense, and industrial automation sectors are expected to drive the market over the forecast period.

Vision positioning systems are installed in Unmanned Aerial Vehicles (UAVs), Automated Guided Vehicles (AGVs), space vehicles, industrial robots, and other automated devices. The system is used for locating the position of these automated devices using data generated by vision cameras and sensors. The sensors detect the current position of the unmanned device or robot with the help of ultrasonic sound waves and optical sensors.

The market is characterized by constantly evolving technological innovations to enhance the efficiency of vision positioning-enabled devices. Technological advancements are primarily driven by growing adoption of vision sensor-equipped devices and increasing demand for indoor navigation in various industries.

Growing adoption of UAVs and AGVs in industrial as well as commercial spaces is anticipated to boost the demand for vision positioning systems over the forecast period. Government regulations pertaining to the usage of UAVs are mostly country-specific and are present in many countries including U.S. and U.K. For instance, the German Air Traffic Act defines Unmanned Aerial System (UAS) as vehicles that are not used for recreational purposes, and states that the operation of UASs weighing more than five kilograms will require prior approval from the German Aviation Authority. Furthermore, using a UAS weighing more than 25 kg or operating it beyond the visual line of sight of the operator is usually prohibited.

Growing adoption of automated devices in developed countries and increasing relevance of cost-effective manufacturing in developing countries is expected to maintain the buoyancy and growth of the market.

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Further key findings from the report suggest:

Vision positioning cameras are expected to account for the largest revenue share by 2025, registering a CAGR of more than 12.5% over the forecast period
Healthcare is expected to emerge as the most lucrative application sector for vision positioning systems on account of growing demand for analytics and navigation
By 2025, the defense segment is projected to account for just over 38% of the total vision positioning system market revenue, which is attributed to growing demand for UAVs in the sector
In 2016, UAVs and AGVs together accounted for just over 60% of the total revenue in the Asia Pacific region
Key players in the industry include DJI Innovations, ABB Limited, Sick AG, and Cognex Corporation.

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Location of Things Market Worth $71.6 Billion By 2025 | CAGR: 34.07%

The global location of things market is expected to reach USD 71.6 billion by 2025, growing at a CAGR of 34.07%, according to a new study by Grand View Research Inc. The increasing penetration of smartphones and enhanced network connectivity coupled with the increasing demand for personalized services are propelling the market growth.

Location of things is an emerging sub-category of the IoT concept that enables connected devices to monitor and communicate their geographic location. Enabled by IoT sensors and location technologies embedded into various connected devices allows organizations and service providers to collect a variety of data over the network. Over the years, a variety of location-based services has been introduced, such as Google Maps, Uber, Waze, and many others, which have been enabled by the ability of a smartphone to locate itself. Location being the most vital dimension of the data collected allows service providers to provide contextual content for each user.

Advancements in connected wearable devices, connected vehicles, connected homes, smart cities, and Industrial IoT (IIoT) are bound to open extensive market avenues for the location of things market in the coming years. However, issues related to privacy and safety along with universally accepted standards are expected to challenge the industry.

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Further key findings from the study suggest that:

North America and Europe accounted for the majority share in the location of things market. Advanced infrastructure and accelerated adoption of smart devices along with the presence of major technology players are the key factors contributing to the regional market dominance.
Mapping and navigation applications dominated the global location of things market with a share of 32.6% in 2017. The introduction of various applications, such as Google Maps, HERE Maps, and Apple Maps, among others, has enabled a variety of location-based services that have led to the segment growth.
The transportation and logistics vertical segment acquired a major share in the location of things market in 2017, which is followed by the manufacturing and industrial segment. The development of connected car technologies and a variety of logistics solutions have enhanced the operational efficiencies and reduced the time-to-delivery for the transportation sector.
Asia Pacific is expected to grow at a CAGR of nearly 35.9% over the forecast period. Advancements in technology infrastructure in countries such China, India, Japan, and other developing nations in the region are expected to drive the industry growth in the coming years.
Increasing investments in IoT technologies and location-based services are expected to drive the growth of location of things market. Key market players include Google, HERE, Qualcomm, Apple, Pitney Bowes, and Bosch, among others.

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CNC Machines Market Size Worth $100.9 Billion by 2025 | CAGR: 6.8%

The global CNC machines market size is anticipated to reach USD 100.9 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.8% over the forecast period. Increasing need for reducing operating costs, manpower, and errors in components is likely to stoke the growth of the market.

Technological advancements are driving the use of CNC machines in development of highly intricate models/components with a definitive finish. This has subsequently led to a rise in implementation of CNC technology in lathe, milling, laser, grinding, and welding machines. Integration of CNC machines with computer-aided manufacturing (CAM) helps in reducing the time required for manufacturing of work pieces and enables hassle-free production of components.

Commercial demand for advanced, compact-sized CNC machines with automatic tool changers and multi axis machining technology is on a rise. Several large manufacturing units and plants are increasingly adopting CNC lathes to perform operations such as cutting, drilling, knurling, deformation, facing, and turning operations.

Various milling tools such as Poly Crystalline Diamond (PCD) tools and solid carbide tools are being introduced in the market. These tools offer increased efficiency and versatility while performing operations at the shop floor. These new tools also offer durability, resistance toward high temperatures, and enable better machining with reduction in vibrations, wear, and noise.

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Further key findings from the study suggest:

The global CNC machines market is anticipated to expand at a CAGR of 6.8% over the forecast period, owing to reduction in cycle time, reduced wastage, and increased efficiency
The lathe machines segment held the leading share of over 27% in 2016. The growth of the segment can be attributed to availability of 5-axis operation machinery that increases flexibility, reduces operation time, and avoids collision
The milling machines segment is estimated to post the highest CAGR of 9.5% during the forecast period, owing to features such as multi-functionality and reduced time requirement
The industrial segment is poised to dominate the market until 2025 and reach a valuation of USD 25.17 billion
The Asia Pacific region is projected to witness significant growth over the forecast period, owing to increasing number of manufacturing units
Key participants in the market are Amada Co., Ltd.; DMTG Corporation; Haas Automation, Inc.; Okuma Corporation; and Yamazaki Mazak Corporation, among several others.

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Grow Light Market Size Worth $8.64 Billion By 2025 | CAGR: 14.1%

The global grow light market is anticipated to reach USD 8.64 billion by 2025, growing at a CAGR of 14.1%, according to a new report by Grand View Research, Inc. The increased use of vertical farming and indoor cultivation, for producing crops, is likely to spur the market demand over the forecast period. Grow light helps in extending the hours of the natural daylight which further increases the health, growth rate and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting and plasma lighting can extend the availability of crops throughout the season.

According to the UN, by 2050, around 80 percent of the world’s population will live in cities. People continuously move into cities to get access to training, service, jobs, culture and entertainment and all the other things cities’ offer. This means that the demand for food is increasing in these areas at the same time as the availability of arable land around cities is very limited.

Artificial lighting helps in extending the hours of the natural daylight which further increases the health, growth rate and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.

The U.S. government has increasingly started to legitimize cannabis plantation across various states. With this initiative, cannabis cultivation is on a verge to become a big business in some parts of the country. Cannabis growers prefer Controlled-Environment Agriculture (CEA) to enhance product quality and yield. This set up consumes a high amount of electricity. As government officials and power companies are trying to convert this into a green industry, they are encouraging the use of LEDs to reduce power consumption and greenhouse gas emissions.

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Further key findings from the report suggest:

The escalating urban population and lack of arable land around cities is expected to drive the market.
The plasma technology segment is expected to portray high growth rate with a CAGR of 23.2% over the projected period
New installations and replacement lights, increasing urban cultivation, increasing vertical farming and government initiatives are expected to be the drivers of the market over the forecast period.
The Asia Pacific regional market is expected to have significant growth over the forecast period, owing to the technological advancement and commercial vertical farms
The key players of the market include AeroFarms (U.S.), Everlight Electronics Co., Ltd. (Taiwan), and Gavita Holland bv (U.)

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Smart Home Automation Market Size Worth $130.0 Billion By 2025

The global smart home automation market is expected to reach USD 130.0 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for the convenience of remote and real-time operation of smart home automation system has increased the growth and penetration of the smart home automation. Increasing urban and geriatric population have created the need to incorporate smart home automation concept in order to address the arising challenges. Further, increase in demand of smartphones and easy accessibility of internet are expected to fuel growth in the demand for the in the coming future. The growing adoption of the automation in security, lighting, HVAC, energy management, and smart kitchen arenas is anticipated to revolutionize the market by 2025.

The market has been segmented based on varied technology of smart home automation, such as cellular, wireless, and others. Based on applications, the market has been segmented into security, lighting, entertainment, HVAC & energy management, and smart kitchen. The entertainment sector is the biggest application sector in terms of size and is expected to dominate for the forecast period owing to high demand of home theaters, touchscreens, audio/video controls, and other entertainment controls.

The growing awareness and popularity of smart home automation is encouraging manufacturers to invest in research & development for creating better products. Manufacturers are making significant investments to simultaneously develop several new products in an effort to enhance the users experience. Researchers are focusing on innovating reliable and cost-effective products.

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Further key findings from the report suggest:

The growing demand for smart home automation can be accredited to the increasing preference among consumers for convenience, connectivity, safety, and security.
The growing penetration of Internet of Things (IoT) and the advancement of Internet accessibility which helps in the move to direct digital controls for better machine to machine (M2M) communication have encouraged users to adopt the smart home automation technology.
With the arrival of various wireless technologies such as ZigBee, Z-Wave, EnOcean, C-Bus, Wi-Fi, Bluetooth, KNX, and Thread, installation of automated systems has been simplified. Wireless technology is less invasive, have low set-up cost, and more convenient to use.
The North American region dominated the market, accounting for the largest global market share in 2016 owing to its large consumer base.
Key industry participants include ABB Ltd. (Switzerland), Honeywell International Inc. (U.S.), Johnson Controls (U.S.), Schneider Electric (France), and Siemens AG (Germany).

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Quality Management Software Market Size Worth $13.9 Billion By 2025

The global quality management software market size is estimated to reach USD 13.9 billion by 2025, registering a CAGR of 9.8% from 2019 to 2025, according to a new study by Grand View Research, Inc. Quality Management Software (QMS) is used to better manage and control quality concerns regarding performance, customer satisfaction, and competitiveness of the organization. This is done by the controlling processes as well as products for consistent quality assurance, reducing the quality gap between manufacturing practices and end-product expectations, tracking of deviations, and ensuring compliances. Increasing advancement in functionality of solution is anticipated to further boost the growth.

The QMS market is expected to witness tremendous growth due to increasing demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. Technological advancements in IT and Telecom as well as automation of transportation and logistics industry is driving the growth of the quality management software market.

Quality management software offers numerous functionalities including handling of non-conformances, out of specification test results, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems. All these capabilities coupled with the reduction in costs, are energizing the adoption of quality management software across a wide range of industries.

The flexibility and mobility offered by quality management software in solutions like document control and non-conformance issue resolving is driving the demand for QMS software in large enterprises, contributing to new functionalities being added to the software every day. The increasing demand for cloud based QMS solutions due to implied scalability and accessibility is a major factor for increasing popularity of quality management software.

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Further key findings from the report suggest:

Cloud technology is gaining popularity among cost-sensitive customers and small and medium enterprises. The numerous benefits cloud based QMS offers without incurring additional costs is helping the market grow
Globalization and the need for complying with international standards for products as well as processes has brought out the necessity of quality management systems to deal with increased pressure of numerous regulations and directives. This is an important factor affecting the spread of versatile and customized quality management solutions across industries
MasterControl, Inc.; Sparta Systems, Inc.; SAP SE; and PSC Software Company are some of the major players operating in the quality management software market. Other key vendors are Aras Corporation; Arena Solutions Inc.; Autodesk Inc.; Dassault Systemes SE; Siemens AG; Oracle Corporation; Parasoft Corporation; Microsoft Corporation;and Hewlett-Packard Enterprise Co.

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Drone Data Service Market Worth $8.15 Billion By 2025 | CAGR: 57.3%

The global drone data service market is expected to reach USD 8.15 billion by 2025, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing usage of information acquired by drones in operational and big data analytics. The increasing need for UAV imagery analysis is presumed to impact the global drone imagery processing software industry positively and add a new horizon in imagery storage technologies.

The increasing adoption of drones in commercial sectors is leading to a revolution in big data cloud services. Launching a drone to capture images is the preliminary step in the drone information acquisition process. The captured images then require correction, calibration, processing, storage, and efficient evaluation.

The increasing need to evaluate imagery is a key factor driving the adoption of drone imagery software and cloud-based applications, which possess the ability to upload, share, store, and process aerial images. Moreover, there has been a steep increase in the use of cloud-based in-memory computing platform amongst businesses as it accelerates analytics, processes, and predictive capabilities.

By gathering information on a larger scale, service providers can now process unprecedented levels of detailed information and turn it into actionable information. UAV companies, such as PrecisionHawk, are transforming their business processes to enhance their focus on drone data processing rather than UAV manufacturing.

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Further key findings from the report suggest:

The industry requires significant improvements in various processes, such as increased fusion of data, compression, encryption, and on-board processing, as the software to perform analytics directly from imagery is still in the research phase
Big data generated by drones is of vital importance in various sectors, including monitoring construction activities, ortho-rectification, and creation of Digital Surface Models (DSMs) and Digital Terrain Models (DTMs).
North America is presumed to emerge as the dominant region while Asia Pacific is expected to witness unprecedented growth over the forecast period.
Over the next three years, agricultural firms and construction companies are expected to harness the capabilities of aerial surveillance through drones on a large scale as these industries have not yet explored the benefits of imagery optimally
Drone imagery service providers across the globe are expected to transform themselves from being straight up services companies to holistic data analytics companies.

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