Market Research News Federation Board

Categories under the end user segment of the HVAC market include residential, commercial, and industrial. In the forecast years, the commercial category will account for the largest market share, due to the surging number of hospitals and offices, expanding hospitality industry, surging tourist activities, and upcoming sports events, such as FIFA World Cup 2022 in Qatar. This category is further categorized into healthcare, hospitality, office and buildings, government, supermarkets/hypermarkets, transportation, and others, such as educational institutions, stadiums, banks, data centers, convenience stores, and departmental stores. In recent years, players of the HVAC market players have made hefty investments in research and development (R&D) activities to develop advanced products and engaged in facility expansions to gain a competitive edge. For instance, in December 2019, Johnson Control International PLC added 22,000 square feet of space to its air handling unit in the manufac...

According to P&S Intelligence, the North American region was the largest user of drone analytics solutions in the recent past. This was due to the escalating demand for improved inspection and surveillance through drones, increasing integration of state-of-the-art technologies, such as machine learning (ML), the internet of things (IoT), and computer vision, in the drone software, and surging need for solutions to take immediate actions during unfavorable incidents in the agriculture, energy and utilities, and oil and gas industries in the region. Whereas, the APAC drone analytics market is expected to display the fastest growth throughout the forecast period, owing to the soaring number of start-ups, rising number of government policies encouraging the usage of drones for non-military purposes, and mounting focus of the agrarian community on the usage of drones on farmlands in the region. Additionally, the widening growth opportunities in India, Australia, China, Singapore, Japan...

Due to the burgeoning population, the demand for electricity is increasing. This is leading to the high-volume extraction of coal, gas, and oil, which continue to be the key sources utilized to produce energy. As a result, people will soon run out of them, which is why the production of energy from renewable sources has already reached a substantial level. Moreover, the fact that fossil fuels release greenhouse gases (GHGs) when burned has also propelled the production of renewable energy. This is a key reason P&S Intelligence sees bright prospects for the energy harvesting system market in the coming years. Energy harvesting refers to creating electricity from the various kinds of energies available in the environment. For instance, with advancements in technologies, electricity can be produced from vibrations. Known as piezoelectric, this technology is being increasingly used in wearable devices, such as smartwatches, pedometers, and heart rate sensors. These devices use the mot...

The global online fitness service market is growing rapidly, on account of various factors, such as the ballooning use of smart devices, such as smartphones, smart TVs, and smartwatches, increasing penetration of the internet, especially in developing countries, and rising public awareness about the importance of health and fitness. As per the forecast of the market research organization, P&S Intelligence, the market will demonstrate rapid expansion during 2021–2030 (forecast period). According to Our World in Data, India, China, and the U.S. are home to 391 million, 765 million, and 245 million internet users, respectively. Further, as per the World Bank, nearly 57.0% of the worldwide population had access to the internet in 2019.  With the increasing penetration of the internet, people are able to easily use various connected fitness devices for measuring several health parameters, such as heart rate and calories burnt, and achieve their health and fitness goals. Moreover, si...

The radiofrequency (RF) transceiver market revenue is expected to decline from $3,892.1 million in 2019 to $3,384.5 million by 2030, because of the falling costs of RF transceivers, due to rise in economies of scale. Moreover, the surging adoption of mobile communication technologies, such as 5G and 4G, burgeoning demand for mobile devices, and increasing adoption of internet of things (IoT) technology will help the market exhibit a CAGR of 0.8% during the forecast period (2020–2030). Currently, the booming demand for wideband transceivers, on account of the rapid technological advancements and escalating demand for seamless, reliable, and secure communication, is becoming a key market trend. The mounting demand for mobile devices in developed and developing countries, owing to the surging need to stay connected and increasing internet penetration, is a prominent growth driver of the market. The International Telecommunication Union’s (ITU) World Telecommunication Database reveals that...

The global population is set to rise to 9.7 billion by 2050 from around 7.7 billion in 2019, as per the United Nations (UN) World Population Prospects report. This is already visible everywhere, in the chaos caused on the roads every day due to more people and vehicles than they can handle. Another place this population growth can be commonly seen is shops and large stores, in the form of long, serpentine queues for checkout. Mostly, the number of cashiers is grossly low compared to the number of people who shop every day. This is to be a key enabler of the growth of the mobile point-of-sale (mPoS) terminals market size from $19.5 billion in 2019 at a 17.9% CAGR between 2020 and 2030, as per P&S Intelligence. Quick service is one of the key influencers of the customer experience, and at most places manned by humans, the service is quite slow. As per research studies, on average, people spend up to 7 minutes every week, or up to 18 hours every year, in queues, which leads to the los...

Factors such as the surging usage of artificial intelligence (AI) and machine learning (ML) for minimizing fraudulent activities, increasing need to protect the online banking and insurance sectors, and rising frequency of phone scamming against the geriatric population are expected to drive the growth of the fraud detection and prevention market at a CAGR of 15.1% during the foreseeable period (2019–2024). According to P&S Intelligence, the market size is projected to reach $47,903.1 million by 2024 from $20,614.4 million in 2018. Moreover, the market is witnessing a trend of surging usage of the hybrid analytical approach. The surging concern about mobile frauds is one of the main factors boosting the fraud detection and prevention market growth.  The number of online transactions through mobile devices is surpassing that of transactions through desktop devices across the world. This leads to the rise in cases of fraudulent activities. For instance, around 30% of all the vul...

In the last 100 years, the average annual temperature of Japan has risen by a whole degree (Celsius), says the World Wildlife Fund. Moreover, the number of hot days, when the maximum temperature is more than 35 °C, is higher now than before, while the cold has become less extreme. Even the instances and duration of snowfall and the extent of ice in the southern part of the Sea of Okhotsk are reducing.  With such rampant global warming, the Japanese population is suffering more than ever because it is simply not used to such hot conditions. Moreover, by 2050, the annual mean temperature in the country is set to rise by 3 °C and, further, by 5 °C by 2080. According to P&S Intelligence, due to such climate change, the Japanese heat stress monitor market, which valued $1.98 million in 2020, is expected to reach $3.96 million by 2030, at a 7.05% CAGR between 2021 and 2030.  This is because the changing weather conditions are leading to the rising number of heat stroke cases, wh...

P&S Intelligence expects these efforts to play a vital role in the growth of the motion sensor market value from $4,430.7 million in 2019 to $7,590.8 million by 2030, at a 5.1% CAGR between 2020 and 2030. This is because these instruments are widely being used in home and building automation systems, which control the working of lights, fans, and heating, ventilation, and air conditioning (HVAC) equipment. By sensing the presence of people in an area, these systems automatically turn on or off, which can help save a substantial amount of energy. This would reduce the pressure on thermal power plants, which, as per the International Energy Agency (IEA), were still responsible for more than 60% of the world’s power production in 2018 (possibly a little less in 2020/21), thereby leading to the lower consumption of fossil fuels here. The ability of motion sensors to reduce energy consumption was demonstrated by a recent experiment conducted at Universitas Budi Luhur in Jakarta, Indone...

The booming population is putting immense pressure on the agrarian community to produce more of all kinds of crops, dairy products, and meats than ever before. In addition, the growing cities, which are eating up agricultural land, are making this task increasingly difficult. This is why the focus at the individual farmer and government levels has started shifting toward modern ways of practicing agriculture. Like most industries, agriculture is now embracing digitization and, with it, its various components, such as drones, robots, and sensors. To make all these systems more effective and the cultivation and animal husbandry processes more fruitful, artificial intelligence (AI) is being leveraged. As per P&S Intelligence, this will be the key reason behind the growth of the AI in agriculture market from $852.2 million in 2019 to $8,379.5 million by 2030, at a 24.8% CAGR between 2020 and 2030. The purpose of using AI in agriculture is to offer real-time updates on sowing and reapi...

The mounting over-the-top traffic will also fuel the edge data center market at a CAG of 25.4% during 2020–2030. The market revenue stood at $5.3 billion in 2019 and it is projected to reach $53.1 billion by 2030. The surging OTT traffic can be attributed to the burgeoning demand for OTT services and rising shift toward online content.  OTT platforms often experience latency due to the location of conventional data centers, which are usually established at long distances from users. At present, edge data center solutions are being largely utilized by the information technology (IT) and telecom sector, due to the soaring IT expenditure and escalating need for efficient IT services.  Whereas, the banking, financial services, and insurance (BFSI) sector is also expected to adopt edge data center solutions at the fastest pace in the forthcoming years, due to the soaring focus of financial institutions on providing a diverse range of digital solutions, such as digital transactions...

The surging use of such drones for crop spraying will propel the agricultural drones market at a CAGR of 25.0% during 2019–2024. The market was valued at $1.5 billion in 2018 and it is expected to reach $6.2 billion by 2024. Deployment of agricultural drones for crop spraying allows farmers to monitor faraway locations on their agrarian lands on a real-time basis.  These drones help in ensuring efficient spraying as they use only an adequate amount of liquid for crop spraying. Additionally, the increasing prevalence of crop diseases, such as Verticillium and Rhizoctonia, caused due to pathogens like Bollworm and Fall Armyworm (FAW), will also augment the use of agricultural drones in the foreseeable future.  As such diseases have a detrimental effect on agricultural productivity, farmers are using drones for crop monitoring, soil and field analysis, and crop health assessment. After gathering the appropriate data, farmers can deploy appropriate measures to protect farm produc...

Factors such as the increasing implementation of government initiatives to support the farmers, such as the Pradhan Mantri Krishi Sinchayee Yojana (PMSY) and Soil Health Card Scheme, and improving internet connectivity in rural areas will fuel the Indian farming as a service (FaaS) market growth during the forecast period (2021–2030). Moreover, the rising efforts made by private companies to enhance the productivity and efficiency of the agriculture sector will also contribute to market growth in the coming years. The launch of several government initiatives to support farmers is a prominent growth driver for the India FaaS market . Central and state governments are providing security and benefits to farmers through plans such as Paramparagat Krishi Vikas Yojana (PKVY) and organizations such as the Agricultural Technology Management Agency (ATMA) to protect them from fraudulent activities. Owing to the extensive government support, the agritech market is attracting attention from priva...

The global smart meters market revenue stood at $13.1 billion in 2019, and it is expected to rise to $20.0 billion by 2030. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 4.9% from 2020 to 2030. The major factors fueling the expansion of the market are the rising adoption of smart grids across the world. In addition, the rising public awareness of energy conservation and the increasing focus of several governments on replacing conventional meters with smart ones are also driving the market growth. In recent years, many governments have focused on supporting the deployment of smart meters in order to conserve energy and reduce power wastage. As part of their clean power initiatives, the governments of several countries have enacted legislations that make the usage of smart meters mandatory. For example, EESL, which is state-owned organization in India, announced the installation of one million or 10 lakh smart meters...

The surging requirement for smooth digital transaction management and user identity authentication will aid the digital signature market to advance at 29.2% CAGR during the forecast period (2021–2030). According to P&S Intelligence, the market revenue is expected to grow from $1,858.3 million in 2020 to $25,211.3 million by 2030. Moreover, the increasing digitization and rising acceptance of online channels for payments and other applications will also augment the market growth in the foreseeable future. Digital signatures are being increasingly used for filing banking, corporate communication, legal and advisory, marketing, and insurance forms as they assist in reducing the time taken for completing such tasks. Additionally, a one-time scanned and digitized signature can be used multiple times for insurance and banking procedures. The surging use of online forms for buying insurance, opening credit and savings accounts, and filing income tax returns, owing to the rapid digitizatio...

A number of factors such as the surging construction activities, owing to a massive rise in urban population and tourist activities, and soaring disposable income of the people in emerging economies are expected to drive the commercial air conditioner (AC) market at a CAGR of 3.5% during the forecast period (2020–2030). According P&S Intelligence, the market size is projected to increase from 17.6 million units in 2019 to 25.4 million units by 2030. One of the prominent growth drivers for the market is the expanding construction industry, primarily on account of rapid urbanization and a surge in tourist activities across the world. Moreover, the increasing government investments being made in the infrastructure sector will also boost the demand for commercial ACs in the coming years. Infrastructure units such as metro rail systems, airports, and office complexes require commercial ACs in abundance. For instance, the upcoming airports and metro stations in India and skyscrapers in ...

Automotive, healthcare, retail, manufacturing, and banking, financial services, and insurance (BFSI) companies around the world are increasingly adopting cloud computing platforms, as they offer hosted data storage solutions, which help organizations in substantial cost savings. Cloud computing serves as an ideal platform for deep learning algorithms, as the architecture provides support for scalability and virtualization and offers storage for a large volume of structured and unstructured data. Deep learning-enabled cloud platforms define the ability of a network, processor, or system to manage a huge volume of data efficiently. Thus, the increasing adoption of cloud computing platforms in end-use industries will help the deep learning market advance at an exceptional CAGR of 35.2% during 2020–2030. According to P&S Intelligence, the market revenue stood at $3.7 billion in 2019 and it will reach $102.4 billion by 2030. Additionally, the mounting investments being made by public an...

Electric motors are installed in fans, propulsion systems, refineries, compressors, alternators, metal rolling equipment, hoists, grinding mills, and power tools because they convert electrical energy to mechanical energy efficiently. These motors are being increasingly used in the automotive, agriculture, cement, metal, mining, oil and gas, pulp and paper, and water and wastewater industries. These high-power-consumption industries are deploying electric motors to reduce their operational costs and contribute toward a greener future. Moreover, the rising practice of customization of electric motors, to avoid compatibility issues with machines, is expected to fuel the electric motor market at a CAGR of 4.8% during 2020–2030. The market was valued at $118.2 billion in 2019 and it is expected to reach $195.2 billion revenue in 2030. Nowadays, electric motor manufacturers are emphasizing on producing customized electric motors to differentiate their products and meet the varying specific...

Factors such as the surge in adoption of digital-signature based biometrics in the banking, financial services and insurance (BFSI) sector, requirement for advanced security solutions amidst pandemic lockdowns and remote working environment, government policies regarding digitization and data protection, and rise in usage of digital signature to eliminate paperwork are expected to drive the growth of the digital signature market at a CAGR of 29.2% during the foreseeable period. According to P&S Intelligence, the market size is projected to reach $25,211.3 million by 2030 from $1,858.3 million in 2020. Moreover, the market is witnessing a trend of using digital signatures in the healthcare industry for higher transparency. The surging adoption of digital-signature-based iometrics in the BFSI sector is one of the main factors boosting the digital signature industry growth. Biometrics is one of the most secure ways of authentication and identification, as this technology offers a uniq...

The burgeoning sales of smartphones in both developed and developing countries are driving the demand for RF semiconductors across the world. Emerging economies such as India, Pakistan, China, Nigeria, and Indonesia are witnessing a sharp surge in smartphone usage, on account of the rising internet penetration, soaring disposable income of people, and increasing urbanization rate. According to the Global System for Mobile Communications Association’s Mobile Economy 2020 report, in APAC, smartphone usage will rise from 64% of the total population to 81% from 2019 to 2025. Besides, the rapid technological advancements being made in wireless communication are also fueling the sales of RF semiconductors across the world. Due to these factors, the revenue of the market will surge from $2.1 billion in 2019 to $5.0 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will advance at a CAGR of 8.8% from 2020 to 2030. Gallium arsenide (Ga...

The mushrooming adoption of 3D printers in these industries for accurate prototyping and enhanced production are driving the global demand for slicing software. 3D-printed aircraft components, 3D-printed implants and prosthetics, and 3D-printed vehicle seats are some of the major application areas of slicing software. Besides, the ballooning use of the 3D printing technology in the healthcare industry is also fueling the growth of the global slicing software market. In this industry, the 3D printing technology is extensively used in the production of wearable devices and surgical instruments, 3D-printed prosthesis, image processing, and tissue engineering. As 3D printing provides various advantages such as reduced risks of infections caused due to prosthetic devices, minimized anesthesia requirements, and lower operative risks during various complex procedures, it is increasingly being adopted in healthcare operations. This is subsequently pushing up the  demand for slicing softwar...

The expanding e-business industry is thus expected to drive the e-signature market at a high CAGR of 26.6% during the forecast period (2021–2030). According to P&S Intelligence, the market generated revenue of $1,198.6 million in 2020. Such IAM solutions can be adopted by businesses with an e-commerce presence for higher efficiency, tighter supply chain integration, and stronger partner–customer relationships. Online shopping companies in the emerging economies of India and China are increasingly using e-signatures due to the soaring trend of digital payments, social commerce, and mobile-first customers. In recent years, governments and small organizations have been rapidly adopting software as a service (SaaS)-based e-signatures as these solutions can be used immediately after signing up and procurement, without the integration and customization processes. The solutions offered via the SaaS delivery model are used by the sales, legal, and human resources (HR) departments when ext...

The global photonics market generated a revenue of $576.8 billion in 2019, and it is predicted to reach a value of $1,214.5 billion by 2030. According to the forecast of the market research company, P&S Intelligence, the market will advance at a CAGR of 6.9% from 2020 to 2030 (forecast period). The market is being driven by the surging adoption of photonics products in communication applications and the burgeoning demand for energy-efficient products across the world. Over the last few years, the demand for energy efficiency has grown massively and it has also become a crucial parameter in the development of various high-performance computing systems, as energy-efficient systems need less fuel to function and can operate efficiently for a long period of time without requiring extensive maintenance. Moreover, the governments of many countries are launching renewable energy programs to reduce greenhouse gas (GHG) emissions from the transport, residential, and industrial sectors. Apar...