Fuel Cell Vehicles Market Worth $1.75 Billion By 2025

The global fuel cell vehicles market size is expected to reach USD 1.75 billion by 2025, according to a new report by Grand View Research, Inc., registering a 33.7% CAGR during the forecast period. This rapid growth can be attributed to increase in investments by governments over the world for development and adoption of fuel cells.

Fuel cell vehicles ensure emission-free operation, which will effectively reduce the carbon footprint and significantly drive product demand over the next few years. The key factor expected to drive the industry is advancements in fuel cell technology. Ongoing advancements have helped match performance with conventional fuel vehicles, with respect to power output and user experience.

Adoption of fuel cell vehicles worldwide is expected to rise over the forecast period due to increasing awareness about reducing harmful emissions, strict environmental regulations, and growing incentives for use of clean energy.

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https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market

Further key findings from the report suggest:

The global fuel cell vehicles market was valued at USD 194.5 million in 2017 and is expected to exhibit a CAGR of 33.7% over the forecast years owing to growing trend of clean energy consumption
Several government initiatives and programs to encourage the use of fuel cell vehicles have led to an increase in their adoption, subsequently increasing their demand over the past few years
North America accounted for the largest market share in 2017 and is anticipated to exhibit a CAGR of over 36.0% over the forecast period. This can be attributed to massive investments by the United States Department of Energy (DoE) in development of fuel cells and improvement of infrastructure
Although the Europe fuel cell vehicles market accounted for just over 3.0% of the overall market revenue in 2017, it is anticipated to be the fastest growing region with CAGR of more than 38.0% over the forecast period
Key market players include Toyota Motor Corporation, Honda Motor Company, Ltd., and Hyundai Motor Company. Apart from these, there are several other automobile manufacturers that are in the process of launching their fuel cell vehicles.

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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http://www.grandviewresearch.com/industry-analysis/sand-blasting-machines-market

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.

X-Ray Security Screening Market Size Worth $2.89 billion By 2020

The global x-ray security screening market size is expected to reach USD 2.89 billion by 2020, according to a new study by Grand View Research, Inc. Threats pertaining to piracy, drug trade, cross-border terrorism, human trafficking, etc., are anticipated to fuel global x-ray security screening market demand over the forecast period. The risk of terrorist attacks has driven investment in aviation security. Further, illegal arms, drug trafficking, and immigration have heightened border security, which is expected to favorably impact the demand for body & baggage screening systems and explosive detection systems.

The sales of x-ray security and inspection systems significantly rely on the decision of governmental agencies to upgrade or expand existing border crossing inspection sites, airports, seaport inspection sites, military facilities, and other security installations. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand. Further, the aviation sector has to keep pace with the evolving travel environment by adopting several security measures, which is expected to drive the x-ray security screening market over the next few years. The development of flexible security screening systems in order to address terror threats is also anticipated to fuel market demand. In addition, upgrades for existing installations provide opportunities for market growth. However, ionizing radiations generated by x-ray security scanners are known to be carcinogenic and may hinder market growth over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/x-ray-security-screening

Further key findings from the study suggest:

The transit sector is poised for high growth over the forecast period. X-ray security screening systems are primarily used for baggage screening and account for substantial usage across the civil aviation sector.
X-ray security screening exhibits high penetration in the government sector and accounted for substantial market share in 2013. Upgrades for existing installations are expected to drive the regional market demand, particularly across the border security application. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand.
Product screening accounted for considerable market share in 2013, with significant demand originating from the cargo and baggage screening applications.
North America accounted for a sizable share of the global x-ray security screening market in 2013. The Homeland Security Department has invested heavily in U.S. customs and border security, which is expected to catapult the segment demand over the forecast period.
A few key industry participants, including OSI Systems (Rapiscan), Smiths Detection, American Science and Engineering, Morpho Detection and Analogic Corporation are constantly innovating with considerable R&D investments to gain competitive advantage, and maintain strong market position.

Smartwatches Market Size To Reach $19.62 Billion By 2020

The global smartwatches market is expected to reach USD 19.62 billion by 2020, according to a new study by Grand View Research, Inc. Growing companion device demand is expected to give impetus to demand for smartwatches. Increasing percentage of health/fitness conscious population has resulted in high demand for wearable fitness monitoring and tracking devices, including smartwatches.

The number of industry participants is expected to increase manifold over the next six years. In addition to startups, the expected entry of established companies is estimated to significantly fuel market growth. Ensuring usability and visual appeal is a critical factor for enabling product adoption on a global level. Furthermore, managing the tradeoff between battery life and performance is critical for profitability.

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http://www.grandviewresearch.com/industry-analysis/smartwatches-market

Further key findings from the study suggest:

Global smartwatch shipments were close to 2 million units in 2013, and are expected to reach 135.3 million units by 2020, at a CAGR of 53.5% from 2014 to 2020.
High-end smartwatches accounted for approximately 90% of the global market in 2013. This segment is expected to lose market share to the mid-end and low-end segments over the forecast period. This can be attributed to the expected trend of decreasing selling prices with a growing number of manufacturers. Majority of consumers have been reluctant to invest in premium priced products on account of unclear benefits and lack of a value proposition.
North America accounted for the highest market share of 35% in 2013; this is mainly due to higher purchasing power as well as increasing demand for fitness tracking equipment. Asia Pacific is expected to be the fastest growing regional market over the next six years. The regional market is expected to be driven by high smartphone proliferation and usage of Internet services.
Industry participants include Samsung Electronics (Galaxy Gear), Pebble, Sony Corporation, Google Inc. and Qualcomm Inc. among others. R&D activities to drive innovation have been the key growth strategy for these companies. Established companies are expected to benefit from growing smartwatches demand, and drive revenue generation over the forecast period.

Photonics Market Projected To Reach $979.90 Billion By 2024

The global photonics market size is expected to reach USD 979.90 billion by 2024, according to a new report by Grand View Research, Inc. The prospects for market growth can be attributed to rapid innovations in the industry for the development of technologically-enhanced products and related services, as well as growing opportunities for the new market development.

Photonics is regarded as one of the Key Enabling Technologies (KETs) in the recent past, leading to the development of new products and services with substantial economic benefits. The broad diversity of devices with photonic-based components is expected to impact the global demand for this technology positively. Photonics is a technologically advanced field, being at the forefront of innovation and R&D and is thus presumed to incorporate substantial growth prospects over the forecast period.

The industry encompasses a broad scope of applications based on photonic-based products, which are anticipated to drive the dynamic emergence of new economic activities in the potential markets. The emergence of green and sustainable photonic-based solutions, such as Photovoltaic (PV) solar cells, is envisioned to drive the industry over the forecast period, owing to the increasing support by both local governments and consumers.

The industry encompasses substantial opportunities for growth over the next eight years. The key impact of photonics technology on energy supply is presumed to offer enhanced PV efficiency in the next-generation solar cells to make PV cost-competitive with fossil fuel electricity generation. Advanced products, such as polycrystalline silicon PV, thin film PV, dye-sensitized PV, and further new developments, such as embedding nanoparticles into solar cells and nanostructure substrates, are expected to boost the demand for photonic components in renewable energy sources over the forecast period.

However, significant initial investments and absence of proper international standards in the technology are expected to challenge the industry growth over the forecast period. The high cost of technology and risk of thermal effect haveled to the limited commercialization of this technology worldwide. Moreover, technology obsolescence and growing presence of counterfeit technologies across the globe are anticipated to challenge the industry growth in the near future.

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http://www.grandviewresearch.com/industry-analysis/photonics-market

Further key findings from the report suggest:

Light Emitting Diodes (LEDs) accounted for approximately 10% of the overall market share in 2015 and are presumed to grow at a considerable rate over the forecast period owing to the introduction of new legislations and policies worldwide to boost the adoption of highly efficient and renewable energy devices. LEDs are energy-efficient, high-performance, and environment-friendly alternatives to traditional light bulbs. Further developments alongside organic and inorganic LEDs, such as light emitting nanowires and quantum dots, and large areas light-emitting plastics, are presumed to boost the demand over the next eight years.
Lasers are anticipated to witness a substantial growth over the forecast period, growing at an estimated CAGR of over 7% from 2016 to 2024. The growth in this segment can be primarily attributed to rapid developments in the industry to incorporate miniature laser projection units as a light source in next-generation pico-projectors. Lasers are being increasingly used in the production of textiles and clothing as well as fine chemicals and pharmaceuticals.
Displays are anticipated to emerge as a predominant application segment over the next eight years owing to increasing developments of sharper, better color, energy-efficient, cheaper, and thin display devices. The increasing adoption of flexible displays, miniaturized displays, holographic displays, enhanced touch, and motion feedback displays are anticipated to lead to new product development and enhancement of existing products.
In terms of revenue, North America dominated the global photonics market in 2015 and is expected to retain its dominance over the forecast period. The demand in this region is mainly driven by the increasing adoption of advanced technologies. The U.S. is presumed to encompass significant investments in the form of public spending and government funding for the R&D of photonic-enabled technologies. Europe is presumed to witness a considerable growth over the forecast period, owing to the growing establishment of research facilities for further development of thistechnology.

Healthcare 3D printing market to grow at a CAGR of 15.6% from 2014 to 2020

The global healthcare 3D printing market is estimated to grow at a CAGR of 15.6% from 2014 to 2020 on account of growing need for manufacturing automated products. Rising geriatric population and increasing healthcare requirements across the globe have been majorly driving demand. Rise in number of orthopaedic and cardiovascular disorders occurring prominently among the aged population have resulted in an increased demand for these printing facilities.

Healthcare 3D printing market provides significant opportunities for manufacturing various medical equipment including dental implants, prosthetic limbs, hearing aids and orthotic footwear. Government initiatives to develop healthcare infrastructure and rising investments for R&D are some of the factors driving growth. The ability of the technology to reduce the risks involved with anesthesia during prolonged surgeries has been another factor resulting in their increasing demand. The market is estimated to be worth USD 1.13 billion by 2020.

Polymers captured over 35% of the overall market share in 2013, dominating the raw material segment of the healthcare 3D printing industry. They are primarily used in bio-model printing.

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http://www.grandviewresearch.com/industry-analysis/healthcare-3d-printing-market

Ceramics are commonly used for manufacturing tooth or mandible (jaw bone). Increasing occurrences of tooth problems including fractures and decays resulting in replacement of crowns or entire teeth is expected to propel demand for biocompatible materials including ceramics. The market is expected to grow at a CAGR of 15.6% over the forecast period.

Implants accounted for over 60.0% of the global market share in 2013. They are not only cost effective but also provide accuracy which is expected to fuel demand. Customized orthopaedic implants increase performance as they reduce time duration of surgeries. Also, it is convenient and less expensive to tailor 3D printed parts. Dental printers provide metal and wax prosthetics. Rising consumer awareness regarding maintaining oral health is expected to bolster growth over the projected period.

Photo-polymerization technology is extensively utilized by research organizations to produce accurate and efficient bio-models. It was valued over USD 140.0 million in 2013 dominating the global industry. However, laser beam melting is estimated to grow at a CAGR exceeding 16% from 2014 to 2020, thus, becoming the fastest growing technology. It is mostly used for producing orthopaedic implants.

North America accounted for over 35% of the global revenue dominating the regional industry in 2013. Rising awareness among patients, mounting investments for dedicated R&D facilities, advanced healthcare infrastructure coupled with development of 3D printing-based products are expected to drive demand in the region over the forecast period.

Rising demand for customized medical equipments and huge investments in R&D programs in Europe are expected to make it the fastest growing market in the next few years. Increasing healthcare investments and expenditures in emerging economies of Asia Pacific are expected to drive demand at a rapid pace over a period of six years.

Prominent players in the industryinclude Envision TEC, Materialise NV, Stratasys Inc., 3D Systems Software, Organovo, Bio-Rad Laboratories, SOLS, Metamason, Simbionix, RegenHU Ltd., Youbionic, 3D Matters Pte Ltd., 3D Systems Corporation (3DS), Roche Pharmaceuticals, Ekso Bionics, Renishaw plc., Delcam India, Robohand, Worrell, Archam, ALD Vacuum Technologies and Rainbow Biosciences.

Integrated Passive Devices Market Size Worth $2.64 Billion By 2025

The global integrated passive devices (IPD) market is expected to reach USD 2.64 billion by 2025, according to a new study by Grand View Research, Inc. The growing demand for wireless, electronic, handheld devices is presumed to drive the market growth over the forecast period.

IPD, such as RF devices, facilitate efficient wireless communication and prevent loss of network signals. They are used across several applications including digital & mixed signals, RF transceivers, power amplifiers, MEMS, digital processors, and power management units. The growing penetration of these devices in wireless consumer market can be attributed to the high volume of customers adopting cellular phones and other IoT devices.

The applications of this technology in digital and mixed signals are fewer, but significant. The commercialization of an application is subject to its potential to comply with electrical performance and density requirements of conventional DC-DC converter modules and high-performance silicon digital interposer substrates.

Additionally, custom-designed IPD used in specialty and niche applications, such as GPS tracking and cellular encryption, are expected to drive the growth of the integrated passive devices market. In terms of materials, thin film products are expected to be the next-generation technology benchmarks as they enable higher densities and lower losses. The advancements in sophisticated packaging techniques have resulted in cost-effective IPD and have increased the scope for large-scale commercialization.

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https://www.grandviewresearch.com/industry-analysis/integrated-passive-devices-ipd-market

Further key findings from the study suggest:

The EMS and EMI protection IPD segment dominated the overall market and accounted for over 9% of the market share in 2015. The growth was attributed to its application in wireless medical devices such as stimulators, cardiac pacemakers, and insulin pumps
The automotive end-use segment posed as a key segment and accounted for over USD 276 million of the overall industry revenue in 2015. The cost-effectiveness of IPD lead to their usage in automotive electronics applications such as electronic control Unit (ECU), intelligent headlights, and digital speedometers
The consumer electronics segment is expected to emerge as the fastest-growing segment with a CAGR of over 13% over the forecasted period, due to the increasing penetration of mobile phones
IPDs are presumed to gain traction in the healthcare segment, owing to their use in medical devices, such as pacemakers, enabling size reduction and low power-consumption in the devices
The LED lighting segment accounted for over USD 131 million of the overall integrated passive devices market in 2015, due to its growing adoption in commercial applications such as billboards, traffic signals, and glow signs. LED lighting consumes low power and facilitates the abovementioned applications
The RF IPD segment is expected to significantly contribute to the industry growth and accounted for over USD 806 million of the global industry revenue in 2015, owing to its extensive usage in POS terminals; thereby, contributing toward digital payment facilities
The key industry participants include STATS ChipPAC Ltd., ON Semiconductor, IPDiA, STMicroelectronics, Infineon Technologies AG, Amkor Technology, Inc., and TSMC Ltd.

Connected Car Market Size To Reach $180.30 Billion By 2022

The global connected car market size is expected to reach USD 180.30 billion by 2022, according to a new study by Grand View Research, Inc. Surging consumer demand, the constant need for connectivity, increased dependency on technology and the growing number of tech-savvy people are some of the factors expected to boost global connected car market growth.

Connected cars offer connectivity on wheels providing comfort, performance along with safety and security. Such advanced technology enables the driver and passengers to connect with various online platforms that facilitate real-time communication on the go.

The connected car market has the potential to significantly boost revenues of automobile manufacturers over the next five to seven years. Car manufacturers are expected to deliver the right mix of application and product packages for the right customers, and must systematically invest in R&D if they are willing to maintain their technological leadership.

Increasing regulations by governments and transportation authorities for the installation of advanced safety and vehicle to vehicle communications systems are expected to positively impact industry growth.

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http://www.grandviewresearch.com/industry-analysis/connected-car-market

Further key findings from the study suggest:

Safety applications dominated the global connected car industry, accounting for over 34% of the share in 2014. The inclusion of safety technologies such as danger warning systems, automatic emergency calling, blind-spot alerts, anti-collision systems that prevent accidents in automobiles has made modern cars safer and accident-proof. This is expected to result in an overall reduction in road mishaps and accidents thus reducing the overall on-road fatalities.
Growing at a CAGR of over 31% from 2015 to 2022, driver assistance systems are expected to gain prominence over the forecast period. Recent advancements in driver assistance systems such as Volkswagen’s Emergency Assist, that automatically applies the brakes and stops a car in case of an emergency and BMW’s autonomous parking valet, that automatically parks a car even after the passenger’s exit have set benchmarks for driver assistance systems in the connected vehicle industry.
Asia Pacific is expected to grow at a CAGR of over 29% over the forecast period due to considerable automobile demand in the region coupled with a relatively untapped market for sophisticated automotive communications in the region. Countries such as China and India are expected to drive industry growth during the next seven years. Automobile manufacturers and technology giants across the world are striving hard to provide advanced vehicle management and safety technologies in the budget car segment as well. Regulation by the European department of transportation in association with the governments have mandated the installation of eCall emergence calling systems and other advanced telematics systems for safety purposes in all new vehicles manufactured after the year 2014.
Technological and product innovations have driven a highly dynamic market. Industry participants include major automobile manufacturers and telecommunication giants such as Audi AG, Alcatel Lucent, Apple Inc, BMW, Ford Motors, and Google Inc. Manufacturers resort to mergers, acquisitions, and strategic alliances with technological and network service providers as their key growth strategy to make their presence felt in the industry.

Wireline Logging Service Market Worth $34.39 Billion By 2022

The global wireline logging service market was valued at over USD 16 billion in 2014, according to a new study by Grand View Research, Inc. This can be attributed to the potential increase in recoverable resources and increased production & exploration. Increase in crude oil prices is estimated to result in rise in investments for exploration & production activities leading to significant new projects across the globe, which is expected to positively impact industry growth.

Technological advancements have broadened service offerings by oil & gas field service providers and improved industry efficiency. Several new technologies such as drill ships and Floating, Production, Storage, and Offloading (FPSO) vessels have enabled wells to be drilled in increasingly deep water. Additionally, the new reservoir conditions including high temperature, ultra-deep water, and high pressure require advanced logging tools and services. The aforementioned factors are projected to drive the industry demand over the next seven years.

Rise in the number of horizontal wells, demand for real-time logging, and well integrity concerns are estimated to offer significant opportunities for industry growth. However, increased seismic activities and stringent government regulations can hamper wireline logging service market.

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http://www.grandviewresearch.com/industry-analysis/wireline-logging-service-market

Further key findings from the study suggest:

E-line logging segment accounted for over 55% of the revenue in 2014 and is expected to witness substantial rise in demand over the forecast period. It finds more usage as compared to the slickline products owing to its wide application across several E&P activities. Some of the factors responsible for electric line’s increased adoption include its ability to transmit electric data by offering a pathway for communication between the downhole equipment and the surface.
Cased-hole logging services segment is estimated to account for over 75% of the overall industry by 2022, growing at a CAGR of over 9% from 2015 to 2022. The industry has been developing sophisticated measurements in through-casing applications. Tools such as gamma ray, spectral gamma ray, pulse neutron, and compensated neutron are used for determining water saturation.
North America dominated the market in 2014 and is expected to grow at a CAGR of over 9% from 2015 to 2022. Potential increase in recoverable resources and completion activities within North America are expected to drive the demand across this region over the forecast period.
Wireline logging service market share is occupied by companies such as Halliburton, Schlumberger, Weatherford International, Baker Hughes, Nabors Industries, and Pioneer Energy Services. Profit margins of the companies are influenced on the efficiency of their production processes. Hence, major players such as Halliburton and Schlumberger are investing heavily in R&D for improving existing technologies, maintaining their edge. For instance, in 2014, Schlumberger invested USD 1.2 billion in R&D activities, whereas Halliburton invested USD 0.6 billion, Baker Hughes 0.6 billion, and Weatherford International invested USD 0.3 billion, respectively.

Cerebral Spinal Fluid Management Market Worth $1.4 Billion By 2022

The global cerebral spinal fluid (CSF) management market size is anticipated to reach USD 1.4 billion by 2022, according to a new report by Grand View Research, Inc. Constant evaluation of various techniques by neurosurgeons for improvement of hydrocephalus management is expected to drive growth in this market. Moreover, shunt manufacturers are engaged in the investment for the development of novel and improved shunts in order to tackle the pitfalls associated with the existing designs.

A significant increase in the geriatric population across the globe as well as a rise in the incidence of chronic CNS associated disorders such as stroke can be attributed to projected growth. Furthermore, grants for research in neuromodulation therapies in order to develop different products for the prognosis of various nervous system associated disorders are expected to boost development.

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http://www.grandviewresearch.com/industry-analysis/csf-management-market-analysis-market

Further Key Findings from the Study Suggest:

CSF management devices are expected to witness extensive competition owing to the presence of several market players operating in this segment. Rise in the number of CSF associated disorders such as trauma and stroke are anticipated to boost demand for these products in the coming years.
Cerebral spinal fluid management shunts captured the largest market share in terms of revenue generation in 2014.
These devices are most commonly used for supplementing and replacing lost drainage capacity in case of CSF leak management.
CSF drainage is anticipated to witness lucrative growth over the forecast period.
This growth can be attributed to ongoing development for enhancing the overall safety of guidance-based systems and anti-biotic impregnated catheters incorporation.
In 2014, North America accounted for the largest share with respect to revenue generation.
Factors contributive for the share include a continuous increase in the number of Americans affected by Hydrocephalus coupled with ongoing research in neuroscience.
Asia Pacific is expected to propel with the fastest CAGR owing to constantly improving the healthcare system in the region.
Moreover, the economic progress of Asia Pacific countries such as China has led to a significant transformation of neurology and neurologic practices in the country. This is one of the key drivers to propel progress in this region in the coming years.
Some of the key players operating in the cerebrospinal fluid management market include Johnson & Johnson Services, Inc; B.Braun Melsungen AG; Magstim; Elekta AB; Medtronic, Inc.; Integra LifeSciences Corporation; Phoenix Biomedical Corp.; Sophysa; Spiegelberg GmbH & Co. KG; and Beckersmith Medical, Inc.
These players are engaged in the development of novel platforms for CSF management.