Market Research News Federation Board

Factors such as the expanding gas pipeline network, flourishing automotive industry, and increasing installation of heating, ventilation, and air conditioning (HVAC) system are expected to steer the compressor market at a CAGR of 3.1% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $39.9 billion in 2019 and it is projected to reach $48.5 billion revenue by 2030.  Moreover, the market is witnessing a trend of increasing preference for variable-frequency drives (VFDs) over gas turbines, owing to improved productivity, reduced noise, and accurate speed and process control exhibited by them. The rising installation of HVAC equipment, on account of the increasing construction of commercial and residential buildings and the mounting number of smart homes, is one of the major growth drivers for the market.  Additionally, the soaring global temperature, on account of the excessive burning of fossil fuels and extensive use of chlorofl...

According to the Household Income and Expenditure Survey released by the General Authority for Statistics, the average household monthly income and average monthly per capita income of Saudi Arabia was 14,823 Riyal and 7,940 Riyal, respectively, in 2018. The survey also reveals that the per capita monthly expenditure of the country was 2,857 Riyal in 2018. The rising spending power of people, owing to the soaring income, will increase the penetration of digital transaction platforms in Saudi Arabia. Thus, the surging income of people is expected to drive the Saudi Arabian digital transaction management market (DTM) at an exceptional CAGR of 35.7% during 2020–2030. According to P&S Intelligence, the market was valued at $60.88 million in 2020, and it will generate $1,288.27 million revenue by 2030. Additionally, ongoing technological advancements and the increasing focus of enterprises on digital platforms for business operations will also propel the demand for DTM solutions in Saud...

The rising requirement for improved grid stability is driving the demand for the incorporation of artificial intelligence (AI) in energy management solutions and systems across the world. A grid system is basically an interconnected network that stores energy and defines its flow. It stores energy from various sources, such as wind power stations, solar power plants, and several other electricity production plants. By utilizing AI to analyze massive data sets, grid systems become stable and highly energy efficient in managing multiple energy sources at a time. Besides, AI-enabled robots can revolutionize the operations and cost structure of energy firms and massively reduce the risks associated with energy production and management. These robots have the ability to certify, maintain, inspect, and repair energy installation units. Furthermore, these robots can be utilized in the decommissioning and cleaning up of nuclear waste. The integration of AI in energy management operations also ...

The global silicon on insulator (SOI) market revenue is predicted to rise from $684.8 million in 2018 to more than $2,285.5 million by 2024. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 22.7% between 2019 and 2024. The market is being driven by the burgeoning requirement for silicon on insulators in consumer electronics and the surging investments being made in the SOI ecosystem across the world. SOIs are being increasingly used in consumer electronic devices such as digital cameras, notebooks, smartphones, and tablets. Additionally, the increasing usage of smartphones, which are equipped with advanced location awareness capabilities, multimedia features, and long-term evolution (LTE) multimode connectivity, on account of the increasing penetration of the internet and soaring digitalization, especially in the Latin American (LATAM) and Asia-Pacific (APAC) countries, is also driving the demand for SOIs across the ...

In recent years, industrial refrigeration system manufacturers have focused on product launches and partnerships to offer advanced products to their existing and potential clientele. For instance, in November 2019, incompressible computational fluid dynamics (ICFD) defrost module was launched by Danfoss India to improve defrost performance and curtail energy consumption in industrial refrigeration applications. Other manufacturers engaging in product launches are Mayekawa Mfg. Co. Ltd., Johnson Controls International PLC, Star Refrigeration Ltd., Midea Group Co. Ltd., BITZER Kühlmaschinenbau GmbH, Trane Technologies plc, and GEA Group Aktiengesellschaft. Globally, Asia-Pacific (APAC) is expected to account for the largest share in the industrial refrigeration systems market during the forecast years.   This will be on account of the presence of a vast population in APAC countries and numerous industrialized nations in the region. Besides, the heavy investments being made by APAC n...

The rapid innovations and advancements being made in the smart wearable technology are enabling a large number of people to consistently monitor and track their progress and achieve their fitness goals. The online fitness service market is divided, on the basis of session type, into group and solo categories. Of these, the solo category is expected to exhibit higher growth rate in the market in the forthcoming years because of the fact that these sessions allow people to attend the classes as per their convenience.  Across the globe, North America was the largest online fitness service market in 2020. This was due to the high public awareness about health and fitness, surging disposable income of people, which enabled them to buy the subscriptions of online fitness classes, and increasing internet penetration in the region. In the upcoming years, the market will demonstrate the highest growth rate in the Asia-Pacific (APAC) region.  This is attributed to the growing population...

The surging need to monitor heat stress of athletes and military personnel, owing to the adverse impacts of heat on the performance of individuals, is expected to propel the heat stress monitor market at a CAGR of 2.7% during 2020–2030. The market revenue stood at $51.4 million in 2019 and it is projected to reach $62.5 million by 2030. These instruments help military personnel and athletes in tracking the heat stress limits by providing real-time information about their health. In the recent past, portable/handheld heat stress monitors were preferred over fixed variants due to the dynamic nature of the former. Portable/handheld variants are used to monitor the intensity of heat stress in several conditions, ranging from underground mines to industrial settings. Both these types of heat stress monitors are equipped with air flow, dry bulb, globe thermometer, humidity, and natural wet bulb sensors. Among the various types of sensors, enormous volumes of globe thermometer sensors are bei...

The corporate sector is showing a high preference for level progress monitoring solutions to improve engagement with customers and enhance the performance of employees. To achieve these goals, enterprises around the world are adopting gamification solutions as they allow organizations to monitor and improve the performance of their employees by observing activity feeds, in-house competitions, and progress bars of gaming platforms.  Thus, the rising focus of business entities on level progress monitoring will facilitate the usage of gamification solutions in the upcoming years. Additionally, the increasing integration of social media with gaming platforms will propel the gamification market at a vigorous CAGR of 24.2% between 2020 and 2030. According to P&S Intelligence, the market revenue stood at $7,841.5 million in 2019 and it will reach $76,298.9 million by 2030.  In contemporary years, enterprises are increasingly adopting machine learning (ML) technology-based gamifi...

The automation of the retail sector has led to effective warehouse and inventory management, increased physical store management efficiency, and enhanced omnichannel presence for retailers. The accelerating automation rate has also led to the adoption of electronic shelf labels (ESLs) at retail stores as they are useful in scheduling service and delivery and displaying and managing product information. Additionally, these automated solutions are used for the execution of daily tasks. Thus, the surging focus of retail stores on increased functional efficiency will fuel the adoption of ESLs in the coming years. Moreover, the escalating digitalization rate in this sector will help the electronic shelf label market prosper during 2021–2030. According to P&S Intelligence, the market revenue stood at roughly $800 million in 2020. The increasing deployment of ESLs can also be attributed to the burgeoning demand for price optimization among retail stores. ESLs enable easy updates, time sa...

Globally, the North American fraud detection and prevention market accounted for the largest share in 2018, and it is also expected to maintain the same trend in the coming years. This is mainly due to the surging adoption of cloud solutions by large enterprises and SMEs for several operations. This is leading to the rising number of fraudulent activities in the region. Furthermore, the robust research and development (R&D) for the integration of advanced technologies in fraud detection and prevention systems will drive the regional market growth. Based on enterprise, the fraud detection and prevention market is classified into large enterprises and small and medium-sized enterprises (SMEs). Out of these, the large enterprises category accounted for a larger market share in 2018, and it is expected to witness the same trend during the forecast period as well. This is due to the fact that large enterprises are more prone to both external and internal threats, as these organizations...

A number of factors such as the growing focus on modernization of infrastructure, declining prices of light-emitting diodes (LEDs), and increasing adoption of energy-efficient lighting solutions are expected to boost the LED lighting market growth at a CAGR of 10.7% during the forecast period (2020–2030). According to P&S Intelligence, the market size is expected to reach $152,442.3 million by 2030 from $55,201.9 million in 2020. Moreover, the market is witnessing a trend of surging adoption of smart LED lighting solutions. Geographically, the APAC LED lighting market held the largest share in 2020. This is ascribed to the rising demand for LED solutions from the growing construction sector across the region and the increasing awareness for energy-efficient LEDs among governments and consumers due to the surging power tariff and environmental concerns. This is supported by the replacement of conventional lights, including incandescent lights, sodium-vapor lamps, and compact fluore...

A number of factors such as the surging demand for low-cost mobile services and penetration of mobile devices, increasing need for triple-play services in emerging economies, segment-targeted pricing and innovative distribution strategies, and rising requirement for high-speed internet connectivity across the world are expected to drive the growth of the mobile virtual network operator (MVNO) market at a CAGR of 7.1% during the foreseeable period (2021–2031).  According to P&S Intelligence, the market size is projected to reach $139,663.0 million by 2031 from $66,582.0 million in 2020. Globally, the European MVNO market accounted for the largest share in 2020, and it is projected to witness the same trend in the coming years as well. This can be mainly due to the noteworthy average net revenue per user (ARPU) and the presence of a large number of MVNOs in the region.  Whereas, the Asia-Pacific (APAC) market is projected to record the highest growth rate in the coming years...

The fact that fingerprints can be used to identify an individual has been known since ancient times, with records suggesting the concept to be in practice in Egypt as early as 2,000 BC. By the 1920s, governments around the world were widely using these features as proofs of identity. Then, people were simply made to cover their fingerprints with ink, for their impressions to be recorded on plain paper. With time, the science of capturing, storing, and analyzing fingerprints has advanced significantly, with electronic means now being more widely used. Thus, with the growth of this practice, P&S Intelligence expects the fingerprint sensors market value to rise from $3.8 billion in 2019 at a high 13.6% CAGR between 2020 and 2030 (forecast period).  For the longest time, fingerprints have been leveraged by governments for employee and citizen enrolment and verification. They are used for enrolling people for ration cards and other public services and during criminal investigations...

From $64.8 billion in 2019, the human enhancement market revenue is predicted to surge to $271.6 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 14.7% during 2020–2030 (forecast period). The rising prevalence of neurological diseases and growing adoption of exoskeletons at rehabilitation centers are some of the major factors fueling the progress of the market across the globe. In recent years, the use of robotic exoskeletons in gait therapy has increased considerably, where they are used for assisting physically disabled people in sitting, walking, standing, and performing several other motor functions. Basically, these systems monitor patients’ movements with the help of sensors and assist them in regaining their physical strength.  For instance, University Hospitals (UH) in the U.S. heavily use exoskeletons manufactured by Ekso Bionics Holdings Inc. to help people suffering from Parkinson’s d...

The contact type segment of the position sensor market is bifurcated into contact and non-contact. Under this segment, the contact category accounted for a larger market share in 2018, on account of the lower cost of contact position sensors than non-contact variants. The lower cost of these sensors makes them quite popular among developing countries, such as China, India, and Indonesia. Whereas, the non-contact category is expected to witness faster growth during the forecast years, owing to the higher accuracy of non-contact position sensors in nanometer and sub-micron levels. These sensors are manufactured by MEGATRON Elektronik GmbH & Co. KG., Renishaw plc, MTS Systems Corporation, TE Connectivity Ltd., Infineon Technologies AG, ams AG, Sensata Technologies Inc., SICK AG, Bourns Inc., and Honeywell International Inc.  In recent years, these companies have primarily focused on product launches to cater to the needs of the end-use industries. For example, in 2018, ams AG intr...

A number of factors, such as the rising need for effective fraud detection solutions, surging demand for personalized product commendations, and growing importance of projecting lead scoring, are expected to drive the automated machine learning (AutoML) market in the foreseeable period (2020–2030). According to P&S Intelligence, the market generated revenue of $346.2 million in 2020, which is expected to reach $14,830.8 million by 2030, growing at a CAGR of 45.6% in the coming years.  Moreover, the market is witnessing a trend of rising fondness toward cloud-based AutoML platforms. Geographically, the North American AutoML market accounted for the largest share in 2020, and it is also expected to lead the global market during the forecast period. This is ascribed to the rising venture capital (VC) funding of AI organizations in research and development (R&D) activities to improve their offerings.  For example, U.S. companies raised $99.5 billion in 2018 through VC fund...