IGBT Market worth $6.6 billion and Thyristor Market worth $849 million by 2025

According to the research report "IGBT & Thyristor Market by Packaging Type (IGBT Discrete, IGBT Module), Power Rating (Medium Power IGBT, High Power IGBT), Voltage (Below 400V, 600-650V), Application (Power Transmission Systems, Motor Drives), and Region - Global Forecast to 2024", the global IGBT market size is estimated to grow from USD 5.3 billion in 2020 to USD 6.6 billion by 2025, at a CAGR of 4.6%. The global thyristor market size is expected to grow from USD 781 million in 2020 to USD 849 million by 2025, at a CAGR of 1.7%. The key factors fueling the growth of the IGBT and thyristor market are the implementation of government initiatives in various countries towards the replacement of aging power infrastructure, and the adoption of electric motors in industrial, commercial, and residential applications.

“IGBT module accounted for a large share of the IGBT market in 2019.”

IGBT module accounted for a large share of the IGBT market in 2019, driven by the increasing adoption of electric and hybrid electric vehicles all over the world. Countries such as Germany, the US, China, and Belgium have contributed significantly to the global sales of EVs/HEVs. IGBT modules are suitable for high-power applications, such as EVs/HEVs.

Moreover, government initiatives undertaken around the world to promote the use of HVDC systems for long-distance power transmissions are fueling the demand for IGBT modules. HVDC projects such as Viking Link (UK–Denmark), Russia–Japan Energy Bridge (Russia–Japan), Buk Dangjin–Godeok HVDC transmission link (South Korea) are expected to foster the growth of the market for IGBT modules in the near future.

“Demand for medium-high power IGBT expected to grow at highest CAGR during the forecast period”

The high power IGBT (more than 1 MW) is projected to lead the IGBT market with the highest CAGR from 2020 to 2025. This growth is attributed to the growing adoption of high-power IGBTs in HVDC systems, wind turbines, solar inverters, and EVs/HEVs. High-power IGBTs can operate on more than 1 MW power, which makes it suitable for high-power applications. The replacement of aging power transmission lines to HVDC and FACTS has contributed significantly to the growth of high-power IGBTs. Atlantic Wind Connection – Transmission (US), Grain Belt Express Clean Line (US), and TransWest Express Transmission (US), Zhou Shan, Gezhouba – Shanghai (China), Tian-Guang (China), and Three Gorges – Changzhou (China), Russia – Japan Energy Bridge (Russia–Japan) are some of the HVDC projects that have had a significant impact on the market growth.

“Power transmission systems accounted for the largest share of the global thyristor market in 2019”

The power transmission systems application held the largest share of the thyristor market in 2019. The major factor contributing to the growth of this application is the increasing deployment of thyristors in HVDC systems and FACTS due to their low-power loss capability.

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HVDC systems and FACTS employ thyristors to DC to AC and AC to DC conversion. Increasing number of HVDC and FACTS projects, such as the State Grid Corporation of China (SGCC) Transmission Lines (China), Russia–Japan Energy Bridge (Russia–Japan), Atlantic Wind Connection – Transmission (US), BRITIB Project (Spain–France–UK), and the Grain Belt Express Clean Line (US), has driven the market growth over the years.

                                                                                   

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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.

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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Wearable Technology Market by Product (Wristwear, Headwear/Eyewear, Footwear, Neckwear, Bodywear) - Global Forecast to 2022

The overall wearable technology market was valued at USD 15.74 billion in 2015 and is expected to reach USD 51.60 billion by 2022, at a CAGR of 15.51% between 2016 to 2022.The key factors contributing to the growth of the wearable technology market include consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of internet of things (iot) and connected devices.

By Product, Headwear & eyewear in wearable technology market expected to grow at highest rateduring forecast period

The headwear & eyewear includes products such as augmented reality and virtual reality which would grow in various high class applications such as industrial segment, video gaming, and entertainment among others.

By Application, Consumer Electronics is expected to be the largest market for wearable technology during the forecast period

This growth is mainly attributed to the increasing demand for wearable scanners and computing devices in warehouses, logistics, and for other operations where high speed and efficiency is essential.

The Americas is expected to dominate the market by Geography

The Americas accounted for the largest share of the overall wearable technology market in 2015, primarily because of the huge demand of wearable technology products in the U.S. The U.S., being a prominent market, holds the largest share of the wearable technology market in the Americas. The U.S. is home to various key players such as Jawbone, Inc. (U.S.), Apple, Inc. (U.S.), and Fitbit, Inc. (U.S.) which majorly contribute toward the growth of the wearable technology market.

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Driver growing popularity of Internet of Things and connected devices

The Internet of Things (IoT) refers to the phenomenon in which not only computers, but all sorts of devices with embedded computing capacity are interconnected. These include self-driving cars, drones, smart sensors, connected homes, and wearable devices. For consumers, IoT technologies offer an array of new devices and service options that make lives and jobs easier. This is especially the case with the subset of IoT technologies known as wearables. Also, IoT plays a significant role in a broad range of healthcare applications, from managing chronic diseases to preventing diseases.

Restraint:  Shorter life cycle of the consumer electronics sector

The consumer electronics sector is a rapidly evolving marketplace. However, market players face high price erosion owing to the fact that when a new technology is developed, the products with old technology lose their significance. Technology advances at an incredible speed, and keeping up with these advancements is a big challenge for companies because by the time engineers come up with a prototype, the technology changes. New technologies are being developed at a rapid pace and integrated with various products as an additional function. Consumers also prefer products which have more features and are technologically advanced. Thus, companies need to embrace new technologies and reduce the design and production cycles to keep up with the pace of the wearable technology market.

Opportunity: Multi-featured and hybrid application mobile devices

There is a huge availability of devices such as smartphone, tablets, and phablets among others. Currently, consumers prefer to have a single compact device which could integrate all the computing and monitoring requirements. This preference presents an opportunity for the development of multi-function and hybrid wearable devices that provide convenience to the users as well as integrates the functionality of many devices into a single compact wearable device. The number of such devices is expected to increase in the coming years. With a steady transformation from the Plain Old Telephone System (POTS) to cellular gateways and mobile phones, cellular technologies have become a leading medium for data transmission and communication. This factor is expected to present a good opportunity for companies to launch wearables connected with mobile devices such as smart phones and tablets.

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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Data Acquisition System (DAQ) Market worth $2.6 billion by 2024

The report "Data Acquisition System (DAQ) Market by Component Type (Hardware, Software), Application (Research and Analysis, Manufacturing and Quality, Asset Condition Monitoring, Design Validation and Repair), End-user, and Region - Global Forecast to 2024", is expected to grow from an estimated revenue of USD 1.9 billion in 2019 to USD 2.6 billion by 2024, at a CAGR of 5.9%. Increasing emphasis on data-monitoring in end-users namely aerospace, defence and wireless communication and others across regions such as North America, Asia Pacific, and Europe, is driving the demand for DAQ system market. The market is segmented by component, application, end-user and region.

Aerospace, Defence and Government Services: The largest end-user segment of the DAQ system market

The market is segmented, by end-user, into aerospace defense and government services, automotive, energy, wireless communication and infrastructure, and others. Aerospace, defense & government services segment accounted for the largest share of the DAQ system market in 2018. The aerospace sector is driven by increased research and development investment in countries such as the US, France, UK, Germany and Russia along with the advent of new technologies like flying urban taxies, electric passenger planes and freight-carrying drones. This is expected to drive this segment across regions such as North America, Asia Pacific, and Europe.

Research and analysis is projected to have the highest growth rate in the DAQ system market, by application

The market is segmented, by application type, into research and analysis, manufacturing and quality, asset condition monitoring and design validation, and repair. The research and analysis segment is estimated to lead the market in terms of market size and is also expected to be the fastest-growing market. The growth is driven by the increasing need for accurate, fast and precise DAQ systems for testing new technologies.

North America region is expected to dominate the global DAQ system market

North America was the largest DAQ system industry in 2018, driven mainly by increased investment in aerospace and defense and energy sectors activities in the US and Canada. Increasing emphasis on the DAQ system in the automotive sector, wireless communication, and aerospace and defense segments are the key market drivers of the industry. The Asia Pacific is the second-largest market driven by applications such as automotive, energy, wireless communication and infrastructure, followed by Europe.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the DAQ system market. These players include National Instruments (US), Keysight Technologies (US), Ametek (US), Teledyne (US), Fortive (US), and Yokogawa (Japan).

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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Semiconductor Intellectual Property (IP) Market worth $ 6.5 billion by 2024, at CAGR of 4.8%

The report "Semiconductor Intellectual Property (IP) Market by Design IP (Processor IP, Interface IP, Memory IP), IP Source (Royalty & Licensing), Vertical (Consumer Electronics, Telecom, Industrial, Automotive, Commercial), and Region - Global Forecast to 2024", is expected to grow from USD 4.9 billion in 2018 to USD 6.5 billion by 2024, at a CAGR of 4.78%. Major factors driving the semiconductor IP market include advancement in multicore technology for consumer electronics sector and increasing demand for modern SoC designs.

The Processor IP segment is expected to grow at the highest CAGR in the global semiconductor IP market during the forecast period

The semiconductor IP market has been segmented on the basis of design into 3 categories: Processor IP, Interface IP, and Memory IP. Among all IP designs, processor IP holds the largest size of the semiconductor IP market; processor IPs include microprocessor unit (MPU), microcontroller unit (MCU), and digital signal processor (DSP). Moreover, the market for memory IP is expected to grow at the highest CAGR owing to its benefits such as high switching speed, power efficiency, and their suitability with various consumer electronics and devices.

Automotive vertical is expected to hold the largest share in the global semiconductor IP market during the forecast period

Among all verticals, the semiconductor IP market for automotive is expected to grow at the highest CAGR during the forecast period. Around 100 processors are used in a high-end automobile, which makes it a growing segment in the semiconductor IP market for the automotive vertical. The automobile industry is likely to witness the advanced versions of processors in the near future, with the advancements of enhanced signal processing algorithms project in safety, driver interfaces, emission control, and in-cabin entertainment and information. The key application areas of digital signal processor (DSP) include voltage regulation, digital radio, and control functions such as injection and ignition control, active suspension, and Hammerfall Digital Signal Processor (HDSP) for powertrain technologies. Owing to these applications, the automotive vertical is expected to become a lucrative market for semiconductor IP cores during the forecast period.

Asia Pacific is expected to hold the largest share of the semiconductor IP market during the forecast period

The market in APAC is expected to witness the highest CAGR during the forecast period. Several factors that made Asia a particularly attractive location include political stability, open financial system with no limits on repatriation of profits, and excellent telecommunications and transport facilities in this region. Taiwan, South Korea, and Singapore share the same benefits. Favorable policies by the Chinese Government and increased funding for promoting applications of semiconductors are expected to further drive the semiconductor IP market in China. Demand for consumer electronics in the Americas and Europe is less than that in APAC due to the growing population in the region.

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Key players in the semiconductor IP ecosystem include ARM Holdings (UK), Synopsys (US), Cadence (US), Imagination Technologies (UK), Lattice Semiconductor (US), CEVA (US), Rambus (US), Mentor Graphics (US), eMemory (Taiwan), and Sonics (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:

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MarketsandMarkets™ INC.

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Smart Glass Market worth 8.35 Billion USD by 2023, at a CAGR of 16.61%

The global smart glass market is expected to reach USD 8.35 Billion by 2023 from USD 3.32 Billion by 2017, at a CAGR of 16.61% between 2017 and 2023. Some of the key factors driving the growth of this market are the growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications.

Governments and the policymakers across the world have started framing policies, legislations, and laws to increase the energy-efficiency of buildings. For example, the energy-efficiency directive from the European Union (EU) defines the measures to increase the efforts from member states to use energy more efficiently at all stages of the energy chain from the transformation and distribution of energy to its consumption. The directive includes the legal mandates to establish energy-efficiency obligations schemes or policy measures in all the member states. This will further drive the adoption of smart glass-enabled energy-efficient products in residential and commercial building construction, and in the transport sector, despite the higher cost of these glasses than the normal (flat) glass.

The smart glass market based on technology has been segmented into suspended particle display (SPD), electrochromic, liquid crystal (LC), micro-blinds, photochromic, and thermochromic technologies. The market for SPD is expected to grow at the highest CAGR between 2017 and 2023. SPD glass offers many benefits due to its unmatched working capacity to change its light emission property to the desired level. This type of glass can adjust its light emission property from transparent to dark within 1–3 seconds and can be used to effectively control the glare from sun rays. SPD-enabled smart glass also restricts UV light up to 99%, providing a healthy ambiance with a sufficient amount of natural light.

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The market in Europe is expected to grow at the highest CAGR during the forecast period. Europe consists of a number of developed countries such as Belgium, France, Germany, Italy, and the UK. This region derives its revenues from the tourism, industry, and manufacturing businesses, among others. The hospitality and automotive manufacturing sectors in this region have grown tremendously due to supportive government policies over the past few decades. The government initiatives for green buildings and energy harvesting have contributed to the rise in the popularity of smart glasses. As a result, Europe holds a significant share of the overall smart glass 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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Digital Substation Market worth 9.96 Billion USD by 2023, at a CAGR of 7.87%

The digital substation market to grow from USD 6.9 billion in 2018 to USD 10.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. The major factors that are expected to be driving the digital substation market are increasing infrastructure development in smart cities, rise in power demand with limited space availability, increasing demand for replacing traditional substation infrastructure, and improved safety and reduced maintenance costs. The objective of the report is to define, describe, and forecast the digital substation market size based on module, type, voltage, and region.

By module, the fiber optic communication network segment is expected to grow at the highest growth rate during the forecast period

Among the module segment, the fiber optic communication network is expected to grow at the highest CAGR during the forecast period. Fiber optic or optical fiber communication is the process of transmitting data by sending a pulse of light through an optical fiber. All the hardware in a substation are linked to each other by a fiber optic cable. This ensures communication of data among the modules making the digital substation system efficient and easy to control.

By type, the transmission substation holds a larger share of the market

Transmission substation segment is expected to hold a larger market share. A transmission substation uses transformers (step-up or step-down transformer) to convert between the voltages. It also uses the phase shifting transformers to control the power flow between two adjacent systems. Transmission substation can range from low to high voltages.

APAC is expected to grow at the highest growth rate during the forecast period

Asia Pacific (APAC) is the fastest growing region for the digital substation market, in terms of electricity consumption and rural electrification. The modernization of industrial applications in APAC is growing at a high rate since a few years, and the same trend is expected to continue in the future. The digital substation market in this region is expected to grow at the highest rate among all other regions due to rapid industrialization and upcoming power utilities. Digital substations provide cost-effective solutions, which help in meeting the rising demand for electricity in the countries such as China, India, and Singapore.

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Various companies and governments are establishing partnerships to increase the use of renewable sources to decrease the carbon footprint and meet the electricity demand in this region. For instance, in August 2016, General Electric (US) partnered with Singapore Power to supply an innovative digital substation as part of the SP Centre of Excellence’s (CoE) Singapore Power Advanced Research & Development (SPEAR) program. The SPEAR program aims to drive the innovation and commercialization of next-generation energy network infrastructure. In addition to this, Singapore also announced the plan to raise the utilization of solar power to 350 Megawatt by 2020, representing 5% of the overall projected peak electricity demand   

           

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

Industrial Communication Market worth $141.0 billion by 2023

According to the new market research report "Industrial Communication Market by Offering (Components, Software, and Services), Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless), End-Use Application (Automotive, Oil & Gas, Food & Beverages) and Geography - Global Forecast to 2023", the market is expected to reach USD 141.0 billion by 2023 from USD 83.2 billion by 2018, at a CAGR of 11.14%. The growth of the industrial communication market can be attributed to the initiatives of governments all over the world toward the adoption of industrial automation; high focus on increasing energy-efficiency, optimizing resources, and reducing production costs; and rise of digital industrial technology Industry 4.0. Moreover, industrial communications across multiple industries are necessary for various complex tasks, such as controlling machines and production lines, monitoring modern traffic systems, and controlling power distribution.

Industrial communication market for wireless communication protocol to grow at highest CAGR during forecast period

The number of wireless connections in industrial applications has increased considerably over the past few years as a result of improved network coverage, quality of transmission, and bandwidth capacity. Advancements in wireless communication technologies, especially in the wireless highway addressable remote transducer (WHART), cellular, and wireless local area network (WLAN), are helping manufacturing companies to remotely monitor their assets from anywhere in the world.

Industrial communication market for water and wastewater to grow at highest CAGR from 2018 to 2023

There is a growing demand for effective industrial communication in the water and wastewater industry with the rising need to manage and increase the efficiency of the plants in response to the increasing water scarcity and growing complexity of water management in water utilities and plants. Rain gauges and smart flowmeters are the most commonly used instruments in the water facilities. Water level monitoring sensors, AC drives, and controllers are crucial components of the water treatment systems, and the industrial communication network is used to facilitate communication among these devices.

APAC continues to hold largest size of industrial communication market by 2023

Growing manufacturing sector in APAC countries such as China, Japan, and South Korea is expected to contribute to the growth of the industrial communication market in this region during the forecast period. China is a global manufacturing hub for semiconductor and automotive manufacturers. Rapidly growing automotive industry in China is likely to create growth opportunities for the industrial communication market players in this country. The manufacturing companies in APAC extensively adopt smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in APAC and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in APAC is also one of the factors driving the growth of the industrial communication market in this region.

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Major vendors in the industrial communication market include OMRON Corporation (Japan), Schneider Electric SE (France), Siemens AG (Germany), ABB LTD. (Switzerland), Rockwell Automation, Inc. (US), Advantech Co., Ltd. (Taiwan), ifm electronic gmbh (Germany), HMS Industrial Networks (Sweden), Cisco Systems, Inc. (US), Moxa Inc. (US), and Belden Inc. (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

Data Center Accelerator Market worth $21.19 billion by 2023

According to the recent research report "Data Center Accelerator Market by Processor Type (CPU, GPU, FPGA, ASIC), Type (HPC Accelerator, Cloud Accelerator), Application (Deep Learning Training, Public Cloud Interface, Enterprise Interface), and Geography - Global Forecast to 2023", the data center accelerator market is expected to be valued at USD 2.84 billion by 2018 and is expected to reach USD 21.19 billion by 2023, at a CAGR of 49.47% from 2018 to 2023.

The shifting focus toward parallel computing in AI data centers and growth of cloud-based services are among the factors driving the growth of the data center accelerator market. A growing number of tech giants and start-ups have begun offering machine learning as a cloud service due to the burgeoning demand for AI-based computation. Cloud-based solutions are ideal for small and midsized businesses that find on-premise solutions costlier. Thus, the increasing adoption of cloud-based technology is necessitating the need for deep learning.

Deep learning training to hold largest share during forecast period

The key factor driving the growth of the data center accelerator market for deep learning training is the increasing use of the technology in various applications such as voice recognition, fraud detection, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection. Also, the companies such as Amazon Web Services (US) and Microsoft (US) have developed a deep learning interface, which can be used to prototype, build, train, and deploy machine learning models for cloud and mobile apps.

GPU held largest share of market based on processor type in 2017

The key factor driving the growth of data center accelerator market is the focus on parallel computing in AI data centers. Deep neural networks and machine learning would require parallel computing solutions that can speed up 90% of algorithms in AI. GPUs are suitable for parallel computing because of their parallel architecture with thousands of cores within, which enable them to handle multiple instructions concurrently. Parallel computing model is ideal for implementing deep learning training and interface as artificial neural networks principally work more efficiently with a parallel computing framework.

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North America held largest share for data center accelerator market in 2017

North America held the largest market share in 2017. The growing trend of cloud computing has radically increased the economic impact of data center investments made by leading service providers, such as Amazon (US), Facebook (US), Google (US), and Microsoft (US).  Also, there is a demand for sophisticated infrastructure and services in North America, which encourages the owners of data centers to opt for the ANSI/TIA-942 standard and also, continually, invest in upgrading their equipment and processes.

Major players operating in the data center accelerator market include NVIDIA (US), Intel (US), Alphabet (US), Advanced Micro Devices (US), Achronix Semiconductor (US), Oracle (US), Xilinx (US), IBM (US), HP (US), Dell (US), Lenovo (China), Fujitsu (Japan), and Cisco (US).

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