Hermetic Packaging Market Size, Share | Industry Trends Report – 2023

According to the forecast provided by MarketsandMarkets, the overall hermetic packaging market is estimated at USD 3.25 Billion in 2018 and is expected to reach USD 4.52 Billion by 2023, growing at a CAGR of 6.80% between 2018 and 2023. The key factors driving this market is growing need of protecting highly sensitive electronic components from extraneous particles, such as moisture, atmospheric pressure, and soil/grime; and strong demand for hermetically packaged components from the industries such as automotive, electronics, and aeronautics.

This report segments the hermetic packaging market on the basis of configuration, type, application, industry, and geography. The market, on the basis of configuration, is driven by high adoption rate of the multilayer ceramic packages for high frequency applications such as data communication, wireless communication, and optical communication, as multilayer ceramic packages offer better hermeticity than other configurations for high-frequency applications, and also enable a large number of electrical feedthroughs within small spaces.

The hermetic market for ceramic-metal (CERTM) sealing is expected to hold a major share and grow at the highest CAGR between 2018 and 2023. Growing demand for thermal shock-resistant and low-porosity type of hermetic packaging material is the key factor that propels the growth of the said market. The CERTM sealed sensors, such as heating-ventilation-air conditioning (HVAC) sensors, chassis level sensors, and differential non-contacting sensors, are finding potential applications in the automotive industry as they assure the safety of the passengers while offering failure-free operation.

Based on application, the market for transistors is expected to hold a major share during the forecast period. The hermetically sealed transistors are mainly used for designing telecommunication circuits and home appliances. This is a key driving factor for the said market. However, the market for microelectromechanical system (MEMS) switches is expected to grow at the highest rate during the forecast period.

The market in APAC is expected to hold the largest market share and also projected to grow at the highest CAGR between 2018 and 2022. Increasing energy needs (backed by the high GDP growth rates) in developing countries, such as China and India, is creating huge opportunities for manufacturers of hermetically packaged electronic components in APAC. China, Japan, and India, among others, are now stepping up in space research activities, such as satellite launches and space exploration missions, which is expected to add to the high growth of the hermetic packaging market in APAC during the forecast period.

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The major challenges for the companies in the market are the high infrastructure cost incurred by controlled and regulated packaging environment and competition from near-hermetic packaging. SCHOTT AG (Germany), AMETEK (US), Amkor Technology (US), Texas Instruments (US), Teledyne Microelectronics (US), Kyocera Corporation (Japan), Materion Corporation (Japan), Egide (France), Micross Components (US), Legacy Technologies Inc. (US) are the major players that adopt various strategies such as new product developments; mergers and acquisitions; partnerships, agreements, and collaborations to cater to the needs of customers.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Intelligent Transportation Systems Market Size, Share | Industry Trends Report – 2023

The intelligent transportation systems market size in roadways is expected to be worth USD 23.3 billion in 2018 and USD 30.7 billion by 2023, growing at a CAGR of 5.65% between 2018 and 2023. The factors such as increasing concerns related to public safety, growing traffic congestion problem, and increasing favorable initiatives taken by the government for effective traffic management have proved to be the major driving forces for ITS market in roadways. Even though development of smart cities across the world is driving the ITS market in roadways, it is facing challenges in achieving interoperable and standard ITS architecture.

By offering, software segment is expected to grow at highest CAGR during forecast period

In this report, the intelligent transportation systems market in roadways, by offering, has been segmented into hardware, software, and services. Among the three, software segment is expected to witness highest growth rate during the forecast period. The high growth rate of the software segment is attributed to the deployment of various advanced software solutions and complex algorithms to strengthen the overall information and communication systems. In addition, the US Department of Transportation (USDOT), along with the Open Source Application Development Portal (OSADP), facilitates the advancement of research, development, planning, testing, and deployment of connected vehicle and traveler-related applications and ITS. This sort of initiative taken by the government is likely to enhance the software segment with significant advancement, thereby justifying the high growth rate of the software segment throughout the forecast period.

By system, advanced traffic management system segment to account for largest market share during forecast period

The advanced traffic management system held the largest market share in 2018 and is expected hold the dominant position throughout the forecast period. The largest market size of advanced traffic management systems can be attributed to the increasing traffic congestion on roads across the world and ability of these systems in helping traffic mangers in taking appropriate decisions. Advanced traffic management system continuously monitors the expressway and highway by providing valuable feedback and information to the central control room to take suitable actions.

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North America to account for largest market share during forecast period

North America is expected to account for the largest share of intelligent transportation systems market in roadways during the forecast period. The market in this region is also expected to witness significant growth during 2018–2023. One of the major reasons for the leading position of North America is the large transport infrastructure upgrade in countries such as the US and Canada. Furthermore, the highest CAGR of APAC is owing to the transport infrastructure related development in economically developing countries including China, and India.

Key players in the intelligent transportation systems market in roadways include Thales (France), Siemens (Germany), Garmin (Switzerland), Kapsch TrafficCom (Austria), TomTom International (Netherlands), Cubic (US), Q-Free (Norway), EFKON (Austria), FLIR Systems (US), and Denso (Japan). Thales (France) is one of the well-known companies in the ITS market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Electric Vehicle Charging Stations Market Size, Share | Industry Trends Report – 2023

The electric vehicle charging stations market is expected to grow from USD 3.22 Billion in 2017 to reach USD 30.41 Billion by 2023, at a CAGR of 41.8% between 2018 and 2023. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.

There has been a highly favorable ecosystem for a sustainable growth of the electric vehicle charging stations market. Many countries are taking various initiatives to encourage the use of electric vehicle (EVs) to curb the growing concerns related to environmental pollution and global warming. The initiatives are acting as a positive growth driver for the market. For instance, in November 2016, the US administration announced that it will develop 48 national EV charging networks for highways to cover an overall distance of approx. 25,000 miles across 35 states of the country. This initiative has led 28 states, utilities, EV charging firms, and major EV manufacturing companies, including General Motors, BMW, and Nissan, to work together. Furthermore, in May 2016, the German government launched an attractive incentive program for EV buyers. As per the new scheme, EV buyers will receive a direct discount of USD 4,520. Such incentive schemes and the government’s decision to discontinue fossil fuel vehicles by 2030 are expected to drive the growth of the electric vehicle charging stations market.

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The electric vehicle charging station ecosystem comprises EV charging station manufacturers, software providers, and distributors. The players involved in the manufacturing of electric vehicle charging stations include ABB (Switzerland), AeroVironment (US), ChargePoint (US), Engie (France), Tesla (US), Schneider Electric (France), Siemens (Germany), Efacec (Portugal), EVgo (US), Leviton (US), Alfen (Netherlands), Allego (Netherlands), Blink Charging (US), Clipper Creek (US), SemaConnect (US), and TGOOD (Hong Kong).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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HVAC Systems Market Size, Share | Industry Trends Report – 2023

The HVAC system market is expected to grow from USD 181.00 Billion in 2018 to USD 251.60 Billion by 2023, at a CAGR of 6.80% between 2018 and 2023. Factors that drive the growth of the market include the increasing demand for HVAC systems for reducing energy consumption, extreme weather conditions, government tax credit and rebate programs, and growing demand for HVAC systems to upgrade old systems.

Heat pumps are expected to hold the largest share of the HVAC system market for heating equipment. The acceptance for heat pumps is increasing owing to their evolving capabilities; these capabilities include performing both space-cooling and -heating functions along with the ability to heat water. Furthermore, heat pumps have higher efficiency than many other cooling or space-heating units, which is expected to increase the demand for the same.

The air handling units hold the largest share of the HVAC system market for ventilation equipment. Air handling units are used to regulate and circulate air in an enclosed environment. It draws the ambient air, reconditions (filtered and cooled) it, and supplies fresh air to the room. Main factors controlled by air handling units are temperature, humidity, air movement, and air cleanliness. Various benefits of air handling units include restriction in cross contamination, simple and safer damper for regulating air, minimal space utility, and portability.

The market for the unitary air conditioners of the HVAC systems for cooling equipment is expected to grow at the highest CAGR between 2018 and 2023. Unitary air conditioners are used in residential, industrial, and commercial applications due to their advantages including low failure risk, space efficiency, and high cooling performance. These air conditioners are used in most classes of buildings, from schools to offices and retail stores, particularly at places where the facilities are associated with low initial cost, and simplified installation is needed.

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The HVAC system market for commercial application is expected to grow at the highest CAGR between 2018 and 2023. HVAC systems are widely used in commercial buildings, which include healthcare, education, government, office, airport, and retail. This factor is positively driving the market for commercial buildings. HVAC systems consume the highest energy in commercial places around 30% of the energy at a business place. Replacing a traditional HVAC system with an advanced and energy-efficient one can help save a lot of energy.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Industrial IoT Market Size, Share | Industry Trends Report – 2023

The Industrial IoT Market is expected to grow from USD 64.00 billion in 2018 to USD 91.40 billion by 2023, at a CAGR of 7.39% during the forecast period. The major factors driving the growth of the IIoT market include technological advancements in semiconductor and electronics devices, availability of automation solutions, improved data rates, and coverage of communication technologies; increasing use of cloud computing platform; growing adoption of IPv6; and support from governments worldwide pertaining to the adoption of IIoT solutions.

The Industrial IoT Market for smart beacons is expected to grow at the highest CAGR between 2018 and 2023. Increasing demand for automation technologies in the retail vertical to enable faster checkout and enhance overall customer experience is driving the growth of the market for smart beacons.

The agriculture vertical is also a major beneficiary of IIoT solutions, owing to the availability of precision farming solutions. Initial investments in precision farming are very high; however, when carried out on a large scale, precision farming enables farmers to produce greater yield and make efficient use of the available natural resources. The Industrial IoT Market for the agriculture vertical is likely to grow at the highest CAGR between 2018 and 2023.

Governments in countries such as Germany, the UK, France, the US, China, and India have taken several initiatives for encouraging manufacturers to increase their investments for the adoption of IIoT solutions. The manufacturing vertical is expected to hold the largest share of the IIoT market in 2018.

North America is expected to hold the largest share of the industrial IoT market in 2018. The market is flourishing in this region owing to various initiatives undertaken to encourage its development and implementation by large enterprises and governments in this region; also, there has been significant investments in the R&D of IoT solutions. These factors are driving the growth of the market in North America. The IIoT market in APAC is expected to grow at the highest CAGR during the forecast period. Rapid industrialization in emerging economies of APAC, such as China and India, and in Southeast Asian countries is boosting the adoption of IIoT solutions in this region.

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To implement M2M communication in the industrial sector, machines need to have built-in components facilitating communication. In case of older factories, machinery may not be equipped with such components for data transmission; hence, these components need to be fitted externally. Some older equipment may also need alterations to retrofit these components, resulting in extra expenses to companies. This acts as a major hindrance for organizations using older machinery.

The Industrial IoT Market ecosystem comprises players such as GE (US), Cisco (US), Intel (US), ARM (Japan), and IBM (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mercury Analyzer Market Size, Share | Industry Trends Report – 2023

The mercury analyzer market is expected to grow from USD 224.6 Million in 2018 to USD 315.1 Million by 2023, at a CAGR of 7.0% during the forecast period. The market is mainly driven by factors such as an increase in the number of regulations pertaining to environment protection, active participation of government and regulatory bodies to monitor environmental conditions, and increase in government funding for pollution monitoring and control. However, growing public awareness about healthcare implications of environmental pollution and rising focus on ensuring the quality of food products are also expected to boost the growth of the market. In addition, increase in industrial activities in emerging markets is expected to offer high-growth opportunities for players operating in the market.

The mercury analyzer market has been segmented on the basis of type into cold vapor atomic absorption and cold vapor atomic fluorescence. Cold vapor atomic absorption (CVAA) is expected to lead the market during the forecast period owing to its wide acceptance across various industries, such as mining, cement, and food, for determining the total mercury content in a given sample. CVAF is expected to grow with a highest rate during the forecast period.

Moreover, the market is segmented on the basis of end use into environment monitoring (air, water, and soil); food; oil, gas, & petrochemical; healthcare; and others. Among all the end uses, environment monitoring is leading in terms of market share as well as expected to grow at the highest rate.  Stringent government regulation to monitor and control mercury emission into atmosphere is the major factor driving the growth of this segment during the forecast period.

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The mercury analyzer market is moderately competitive with limited global and local market players operating into the market. The key players operating in the market covered in this report are Teledyne Leeman Labs (US), Tekran (Canada), Thermo Fisher (US), PerkinElmer (US), Milestone (US), Analytik Jena (Germany),  Nippon Instruments (Japan),  Hitachi High-Technologies (Japan), Mercury Instruments (Germany), and Lumex (Canada), among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Robotic Process Automation Market worth $5.9 billion by 2025

The report "Robotic Process Automation Market by Process (Automated solution, Decision Support & Management Solution, and Interaction Solution), Operation (Rule Based and Knowledge Based), Type (Tools and Services), Industry, and Geography - Global Forecast to 2025" The robotic process automation (RPA) market is expected to reach USD 5.9 billion by 2025, at a CAGR of 32.6% between 2019 and 2025.

The growth of this RPA market is mainly driven by the ease in business processes with the installation of robotic process automation; and convergence of robotic process automation with traditional business processes. Moreover, integration of new technologies such as artificial intelligence (AI), and cognitive systems with robotic process automation; and high demand of robotic process automation (RPA) in logistic industry are few major opportunities for robotic process automation market

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Robotic process automation market for healthcare and pharmaceuticals will likely to grow at the highest CAGR during forecast period

The robotic process automation market for the healthcare and pharmaceuticals industry is expected to grow at the highest CAGR during forecast period. The healthcare and pharmaceuticals industry is highly information-dependent, as it involves medical records of patients, credentials of patients, information on claims processing, revenue cycle management, etc. In this regard, robotic process automation not only helps reduce operational costs but also ensures greater accuracy. The interactive solutions offered by robotic process automationhelp efficiently manage data, reduce medical transportation costs, lower appointment scheduling errors, and so on.

Robotic process automation tools expected to hold the largest market size of the overall robotic process automation market

Robotic process automation tools held the largest market size in 2018 owing to its capability of eliminating repeatable and predictable human interactions with business applications by mimicking the way people interact with applications through a user interface and also by following simple rules to make decisions. Tool-based lifecycle management can be divided into requirement definition, initial design, application development, testing, deployment, and release and maintenance. It also involves tracking and documenting changes throughout the process of the application.

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North America is expected to dominate the robotic process automation market during forecast year

The robotic process automation market for North America held the largest market size in 2018 and is expected to dominate the market during forecasted period. In the US, BFSI has been leveraging robotics process automation to improve business processes since 2010. Due to the high degree of flexibility and scalability of the solution, as well as greater data processing and workflow management capabilities, there is widespread deployment of robotic process automation in the BFSI space. The growth of robotic process automation in Canada is driven by the ramp-up of the banking and financial industry. Human resource outsourcing, business process outsourcing, and contact center outsourcing have seen tremendous growth in Canada in recent times. The growth of the RPA market in Mexico is driven by the booming manufacturing industry. New factories and manufacturing units are being built in Mexico, requiring proper supply chain management to be implemented to reduce costs. Inventory management, purchase order, stocking goods, and economic order quantity management require automated processes—backed by software bots.

Benefits of Robotic Process Automation (RPA) in various industries

The RPA market report profiles the most promising players in the RPA market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of players. Nice Systems Ltd. (Israel), Automation Anywhere (US), Blue Prism Group Plc (UK), Celaton Ltd. (UK), IPSoft, Inc. (US), Pegasystems Inc. (US), Redwood Software (US), UiPath SRL (UK), Verint Systems Inc. (US), and Xerox Corporation (US) are few dominant players in the robotic process automation market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

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Power Bank Market worth $25.16 billion by 2022 with a growing CAGR of 21.2%

The power bank market is expected to be valued at USD 25.16 billion by 2022, at a CAGR of 21.2% between 2017 and 2022. The growth of this market is propelled by the increasing usage of electronic devices such as smartphones and tablets, increased power consumption of electronic devices due to technological advancements, and electric outage in certain countries.

The capacity range of 9500–12499mAh accounted for the largest share of the market in 2016. The rising adoption of power banks that are capable of charging a device several times is expected to drive the growth of the market for power banks with a capacity range of 9500–12499mAh.

The power bank market for more than two USB ports is expected to grow at a high rate between 2017 and 2022. Consumers demand for power banks with three or four USB ports as they are capable of charging three to four devices, simultaneously. Moreover, these devices are now available with higher capacities; this has increased the demand for power banks with three or four USB ports.

Power banks that derive power from electric power grids accounted for a major market share in 2016. The benefits offered by these devices such as easy accessibility, low prices, lightweight, compact size, and suitability for charging any portable electronic devices are contributing to the increasing the demand for electric-based power banks.

Lithium ion batteries held the largest size of the market in 2016. Li-ion batteries offer various advantages such as high energy density, relatively low self-discharging, and low maintenance. The power bank market for lithium polymer batteries is expected to grow at a high rate between 2017 and 2022. Lithium polymer batteries are moldable, lightweight, and come in a flat shape; these factors enable electronic device manufacturers to develop thin and compact electronic devices. These batteries are preferred as they are light in weight and have a flexible form factor, and are safer than other batteries.

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Smartphones hold the largest size of the power bank market; the market for smartphones is expected to grow at a high rate between 2017 and 2022. The increasing penetration of smartphones, along with the extensive use of Internet services, is draining the battery power of smartphones rapidly. Hence, the demand for power banks to run smartphones for a longer duration is increasing in the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

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USA: 1-888-600-6441

newsletter@marketsandmarkets.com

Gas Sensors Market worth 1,297.6 Million USD by 2023 with a growing CAGR of 6.83%

The gas sensors market is expected to be valued at USD 1,297.6 million by 2023, growing at a CAGR of 6.83% between 2017 and 2023. The major factors driving the growth of this market include increasing enforcement of occupational health and safety regulations by the government, MEMS-based sensors, development of miniaturized wireless sensors, and increasing awareness of air quality control among users.

This report segments the market on the basis of gas type, technology, end-use application, and geography. The market for oxygen is expected to witness a significant growth during the forecast period. The rising demand for oxygen gas sensors used in the medical sector in devices, such as anesthesia machines, ventilators, oxygen monitors, and analyzers, is driving the oxygen gas sensors market. Also, oxygen gas sensors are used in huge numbers in automotive and transportation applications. The growth in the automotive industry is also driving the oxygen sensors market significantly.

The market for the oil & gas industry to hold the largest share during the forecast period. The market for the oil & gas industry is expected to account for the largest market share by 2023 as a result of increasing oil & gas projects, replacement of obsolete sensors, and continuously increasing demand from oil & gas industries from emerging economies. Increasing shale gas production in the US will also drive the gas sensors market in the US.

Consumer electronics is expected to grow at the highest rate during the forecast period. The consumer electronics segment is expected to grow at the highest rate since gas sensors are expected to be integrated into smartphones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs.

APAC to hold the largest share and is expected to witness the highest growth in the gas sensors market. The major drivers for the rapid growth of the said market in APAC are the rising investments in sectors such as infrastructure, housing, and medical care, which are attributed to the growing population and urbanization in the said region. The strong economic growth and increase in manufacturing industries, such as automotive, and metals and chemicals, in APAC are expected to drive the  market in this region.

https://www.marketsandmarkets.com/PressReleases/gas-sensor.asp

The key players in this market are City Technology Ltd (UK), Dynament (UK), Alphasense (UK), Amphenol Corporation. (US), Bosch Sensortec GmbH (Germany), ams AG (Austria), SenseAir AB (Sweden), Figaro Engineering Inc. (Japan), Membrapor AG (Switzerland), and Sensirion AG (Switzerland), and MSA (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

newsletter@marketsandmarkets.com

Access Control Reader Market worth $5.4 billion by 2024

According to the new research report, "Access Control Reader Market by Reader Type (Card-based Readers, Biometric Readers, and Multi-technology Readers), Smart Card Technology Type (iCLASS, MIFARE, DESFire, Advant), Vertical, and Geography - Global Forecast to 2024" is expected to grow from USD 3.0 billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 12.5%. The growth of this market is mainly propeled by the high demand for enhanced security; contactless interfaces to boost adoption of smart cards; and increased convenience, enhanced security identity management, and improved human resource management. Rapid urbanization in emerging economies is likely to provide growth opportunities for the access control reader market.

Card-based readers to witness highest CAGR during 2019–2024

Card-based readers are expected to exhibit the highest CAGR in the access control reader market from 2019 to 2024. The market for card-based readers has been further categorized into magnetic stripe, proximity, and smart card readers.  Rising adoption of card-based reader technology-equipped time and attendance as well as access control solutions in various organizations across the world is one of the factors surging the demand for card-based readers.

Residential vertical expected to exhibit highest CAGR from 2019 to 2024

The access control reader market for the residential vertical is expected to grow at the highest CAGR from 2019 to 2024. In smart homes, access control readers are used to enhance security. Key factors contributing to the growth of this market include the rise in crime rates, ongoing technological advancements, high need for detecting hazards, such as fire and gas leaks, and ensuring the safety of children at home. The growing trend of smart homes is likely to increase the demand for access control readers in the residential sector.

Growing security concerns will boost demand for access control readers in APAC during forecast period

The access control market in APAC is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of the market in this region include large population, heavy investments in digitalization, rapid industrialization, and high demand for security systems. Furthermore, emerging economies are working toward improving their infrastructure, which is expected to impel the growth of the access control reader market. The rising adoption of access control readers in small- and medium-sized enterprises, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places is expected to drive the access control reader market in APAC.

https://www.marketsandmarkets.com/PressReleases/access-control-reader.asp

Key players in the market include ASSA ABLOY AB (Sweden), dormakaba Holding AG (Switzerland), Allegion plc (Ireland), Identiv, Inc. (US), IDEMIA Group (France), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Gemalto N.V. (Netherlands), NAPCO Security Technologies, Inc. (US), and Avigilon Corporation (Canada). These players are increasingly adopting growth strategies such as product launches and developments, mergers and acquisitions, contracts, partnerships, and agreements to develop and introduce new technologies and products in the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

newsletter@marketsandmarkets.com