Semiconductors & Electronics Industry Market Research : November 2019

Monday 11 November 2019

Gas Sensors Market worth $1.4 billion by 2024

The report "Gas Sensors Market by Gas Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Ammonia, Chlorine, Hydrogen Sulfide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Technology, Application, Geography - Global Forecast 2024", size is projected to reach USD 1.4 billion by 2024 from an estimated USD 1.0 billion in 2019, at a CAGR of 6.4% from 2019 to 2024.

The formulation and implementation of various health and safety regulations across the globe, the increased adoption of gas sensors in HVAC systems and air quality monitors, and the rise in demand for gas sensors from critical industries are the major factors driving the growth of the gas sensors market. Networking of gas sensors through the Internet of Things (IoT), cloud computing, and big data; rising adoption of gas sensors in consumer electronic devices, growing involvement of several private and public organizations to create awareness among the masses about air quality monitoring, and increasing demand for miniaturized wireless gas sensors across the globe present growth opportunities for the gas sensors market.

By gas type, the VOC segment of the gas sensors market is projected to register the highest CAGR between 2019 and 2024

VOC sensors are used in the automotive, HVAC, and smart cities & building automation sectors. The market for VOC sensors is expected to grow at the highest CAGR during the forecast period, due to their rising adoption in consumer electronics. Increasing awareness regarding the consequences of pollution on human health is expected to fuel the demand for portable air quality monitors. This, in turn, is anticipated to drive the growth of the VOC sensors market.

By connectivity, the wireless segment is expected to witness a higher CAGR than the wired segment during the forecast period

By connectivity, the wireless segment of the gas sensors market is projected to register a higher CAGR than the wired segment during the forecast period due to the increasing use of wireless gas sensors in various industries, to detect the presence of toxic gases and to ensure the safety of their workforce. Wireless gas sensors are used for continuous monitoring of remote locations in a reliable and cost-effective manner.

Among applications, the consumer electronics segment is projected to grow at the highest rate during the forecast period

Consumer electronics include smart bands, smartwatches, tablets, and smartphones, among others. With technologies used in consumer electronics evolving, the manufacturing of smart consumer electronics devices has also increased. Sensors create effective human-machine interfaces and play an important role in improving the performance of a range of consumer electronic devices. Gas sensors are, therefore, expected to witness increased adoption in consumer electronic devices in the coming years.

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By region, Asia Pacific is estimated to lead the gas sensors market throughout the forecast period

Consumer electronics are an important application for gas sensors. According to the Groupe Speciale Mobile Association (GSMA) Intelligence, APAC has the highest number of smartphone users in the world. With advancements in gas sensing technologies, the integration of gas sensors is expected to increase in smartphones, smart bands, and tablets. This, in turn, will fuel the market for gas sensors in the Asia Pacific region.

Honeywell Analytics (UK), MSA (US), Amphenol (US), Figaro (Japan), Alphasense (UK), ams AG (Austria), MEMBRAPOR AG (Switzerland), Dynament (UK), Sensirion (Switzerland), Asahi Kasei Corporation (Japan), Nissha (Japan), IDT (US), Breeze Technologies (Germany), eLichens (France), Bosch Sensortec (Germany), Edinburg Sensors (UK), GASTEC (Japan), Nemoto Sensor Engineering Company Limited (Japan), and SPEC Sensors (US) are some of the key players in the gas sensors market.

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Wednesday 6 November 2019

Power Bank Market worth $17.9 billion by 2024

According to the new market research report "Power Bank Market by Capacity (1,000–5,000 mAh, 5,001–10,000 mAh, 10,001–15,000 mAh, 15,001–20,000 mAh, Above 20,001 mAh), Units of USB Port, Indicator, Battery Type, Application (Smartphone, Tablet, Wearable Device), and Region - Global Forecast to 2024", the global power bank market size is estimated to be USD 10.7 billion in 2019 and is projected to reach USD 17.9 billion by 2024, at a CAGR of 10.8%. The power bank industry is likely to exhibit lucrative growth potential during the forecast period.

The growth of this market is expected to be driven by the integration of advanced technology in power banks, an increase in power consumption in smartphones due to various software applications, and a decline in the price of power banks. These factors have helped the power bank market gain traction in applications, such as smartphones, tablets, portable media players, wearable devices, digital cameras, and others. The market also has several opportunities that can be explored by existing and entry-level companies to expand businesses.

Lithium-ion battery type segment held the largest share of power bank market in 2018

The power bank industry, based on battery type, is led by the lithium-ion battery segment (in terms of size). The most common types of batteries in the market are lithium-ion batteries. Lithium-ion batteries have a higher energy density, i.e., they can store more electrical charge in a given size or volume, and are cheaper to manufacture because they have lower production cost and require lower maintenance than lithium-polymer battery. Factors such as high energy capacity, cheaper rate, low production and maintenance cost, and higher battery conversion rate are fueling the growth of the Li-ion battery-based power banks.

The market for more than 2 USB ports segment to grow at highest CAGR during the forecast period

The demand for power banks with more than 2 USB ports is expected to witness the highest CAGR during the forecast period. Power banks with more than 2 USB ports are equipped with safeguard technology and super-fast charging technology, as well as are equipped with high battery capacities to charge 5 electronic devices simultaneously. These portable chargers also have variations in the type of USB ports, such as Type-C USB port.

APAC accounts for the largest market size during the forecast period

APAC held the largest power bank market share in 2018, followed by North America and Europe. The market in APAC mainly comprises developing economies, such as China and India, which have tremendous potential for power banks. Increasing demand for portable consumer electronic devices and next-generation gadgets in countries such as China, Japan, and South Korea is driving the market for power banks in APAC. The power bank market in APAC is highly competitive with the presence of established players and the entry of new market players. These players are continually upgrading their product portfolio with the launch of technologically advanced products.

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Anker Innovations (China), AUKEY (China), Xiaomi (China), ADATA (Taiwan), RAVPower (US), GRIFFIN (US), Lenovo (China), mophie (US), AMBRANE (India), and INTEX (India) are among the major players in this market.