Friday 29 May 2020

What are the drivers and opportunities for the Hi-Fi system market?


The market growth can be attributed to several driving factors, such as rise in demand for infotainment services, high spending on R&D by OEMs, innovations in wireless audio technology, and increasing adoption of portable devices. Growth of speakers and soundbars market in emerging regions and newer, nonconventional applications of headphones are providing opportunities in the market.
Where will all the developments take the industry in the long term?
Technological progressions in wireless technologies have changed the way people communicate as well as listen to music. High-end audio has become a symbol of class for consumer home audio equipment. Owing to the increasing demand for portable devices such as smartphones, growing proliferation of connected devices, and rising global adoption of Wi-Fi networks, the Hi-Fi system market is expected to flourish in the coming years.
Which segment provides the most opportunity for growth?
The product segment, which includes speaker & soundbar, CD player, DVD player, Blu-ray player, network media player, turntable, headphone & earphone, and microphone products, has a higher market share currently and expected to grow at the higher rate during the forecast period. Speakers and soundbars are compatible with TV sets, smartphones, music systems, gaming consoles, etc., and can be connected to them through different media sources such as High-Definition Multimedia Interface (HDMI), Bluetooth, Wi-Fi, and Universal Serial Bus (USB). Due to their portability and ease of use, wireless speakers and soundbars are getting immensely popular.
Who are the leading vendors operating in this market?
Key players operating in the Hi-Fi system market are Samsung Electronics Co. (South Korea), Sony Corporation (Japan), Apple Inc. (US), Bose Corporation (US), Sennheiser Electronic GmbH & Co. KG (Germany), LG Electronics (South Korea), Panasonic Corporation (Japan), DEI Holdings, Inc. (US), Yamaha Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Onkyo Corporation (Japan), and Sonos, Inc. (US), Linn Products (Scotland), Bowers & Wilkins (UK), Tannoy Ltd. (UK), VOXX International Corp. (US), VIZIO, Inc. (US), Bang & Olufsen (Denmark), Plantronics, Inc. (US), DALI A/S (Denmark), Human Inc. (US), Cambridge Audio (UK).
Which applications are expected to drive the growth of the market in the next 5 years?
The Hi-Fi system market based on application is segmented into residential, automotive, commercial, and others. The growing demand for wireless Hi-Fi systems and the concept of smart homes is expected to drive the market for the residential application.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Which are the major opportunities in the energy harvesting system market?


The use of energy harvesting systems in portable and mobile medical devices, ocean energy harvesting devices, and human energy harvesting technologies are a few key opportunities in this market.
Which are the major applications of this market?
The building and home automation application is expected to lead the energy harvesting system market. This application involves the use of power harvested through ambient energy to operate devices such as sensors, switches, lighting system, and harvesting energy from various devices such as radiators, refrigerators, and many more.
Which region is expected to witness significant demand for energy harvesting system market in the coming years?
Americas is expected to have the largest market share in terms of value, as the adoption of energy harvesting systems in the building and home automation is high in the Americas. Moreover, there are an increasing number of government activities for energy harvesting in the Americas.
Which are the major companies in the market? What are their major strategies to strengthen their market presence?
EnOcean (Europe), Powercast Corporation (US), Cymbet Corporation (US), Fujitsu (Japan), and Linear Technology (US) are some of the major companies providing energy harvesting solutions. Product launches is one of the key strategies adopted by these players. Apart from launches, these players extend their focus on partnerships and expansions.
Why there is increasing need of energy harvesting in building automation and industries? Which technologies are expected to drive the growth of the market in the next 5 years?
The growth of the energy harvesting system market is driven by the growing demand for safe, energy-efficient, and long-lasting systems that require minimum or no maintenance, extensive implementation of IoT devices in automation and energy harvesting technology in building and home automation, rising adoption of wireless sensor networks equipped with energy harvesting system, and increasing trend of green energy and favorable initiatives by governments. Light energy harvesting is majorly used in the building and home automation and industrial applications; this technology currently holds the leading position in the overall energy harvesting system 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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

What are the drivers and opportunities for the IGBT & Thyristor market?


Initiatives of governments across various countries toward the replacement of aging power infrastructure and the adoption of electric motors in industrial, commercial, and residential applications are major factors driving the growth of the IGBT and thyristor market. Increasing adoption of renewable energy sources is expected to act as an opportunity for the manufacturers of IGBT and thyristors.
Which are the major applications of IGBTs and thyristors? How huge is the opportunity for their growth in the next five years?
Electric vehicles & hybrid electric vehicles, power transmission systems, and renewable energy are major applications of IGBTs. These are expected to open new revenue pockets for the IGBT market, which will lead to market opportunity of USD 6.6 billion. While power transmission systems, and motor controllers are major applications of thyristors. These are expected to open new revenue pockets for the thyristor market, which will lead to market opportunity of USD 849 million.
Who are the leading vendors operating in this market?
A few major players in the IGBT and thyristor market include Infineon Technologies AG (Germany), Fuji Electric Co., Ltd. (Japan), ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), STMicroelectronics (Switzerland), Renesas Electronics Corporation (Japan), Vishay Intertechnology (US), ABB Ltd (Switzerland), SEMIKRON (Germany), Hitachi, Ltd. (Japan), and Toshiba Corporation (Japan).
Which region is expected to witness significant demand for IGBT & thyristor in the coming years?
APAC is the highest growing region for this market. This growth can be attributed to the increasing sales of electric and hybrid electric vehicles in APAC countries. China, Japan, South Korea, and India are the major markets for EVs/HEVs in APAC. Moreover, increasing number of HVDC and FACTS projects in the region has contributed to the growth of this market.
Which are the key strategies adopted by leading companies in the sound reinforcement market?
Product launches were among the key strategies adopted by major players operating in the IGBT and thyristor market. Other strategies adopted by players to grow in the IGBT and thyristor market were partnerships, collaborations, contracts, agreements, acquisitions, and expansions.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Wednesday 27 May 2020

What are the drivers and opportunities for the FPGA market?


Increase in the global adoption of AI and IoT, ease of programming and faster time-to-market of FPGA than ASIC, and incorporation of FPGA in ADAS are the major factors driving the growth of the FPGA market. Developments in 5G networking infrastructures and increased use of FPGA in data centers for high-performance computing applications are expected to act as opportunities for the manufacturers of FPGA.
Which are the major node sizes for FPGAs? How huge is the opportunity for their growth in the next five years?
The major FPGA node sizes are less than 28 nm, 28-90 nm, and more than 90 nm. The less than 28 nm segment is projected to lead the FPGA market during the forecast period. The adoption of 10 nm node size FPGA in high-end applications such as edge computing, 5G networking, data centers, and AI has reinforced the growth of this segment of the market.
Which region is expected to witness significant demand for FPGA in the coming years?
APAC is the highest growing region for this market. This growth can be attributed to the increased adoption of IoT and machine-to-machine (M2M) communication in the industrial and automotive sectors. FPGA offer parallel processing and reprogrammability features, which make them suitable for these applications.
Which are the major companies in the FPGA market? What are their major strategies to strengthen their market presence?
Xilinx, Inc. (US), Intel Corporation (US), Microchip Technology Inc. (US), Lattice Semiconductor Corporation (US), and QuickLogic Corporation (US) are dominant players in the global FPGA market. Product launches and developments is one of the key strategies adopted by these players. Apart from product launches and developments, these players extend their focus on partnerships, contracts, collaborations, and acquisitions.
Which are the major verticals of FPGA market? How huge is the opportunity for their growth in the next five years?
Data centers and computing, telecommunications, and computing are major verticals of FPGA market. These are expected to open new revenue pockets for the FPGA market, which will lead to market opportunity of USD 8.6 billion.


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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441


Which are the major applications of smart lighting? How huge is the opportunity for their growth in the next five years?


The major applications include Indoor, and Outdoor. These are expected to open new revenue pockets for smart lighting market which will lead to market opportunity of USD 30.6 billion.
Which are the major companies in the smart lighting market? What are their major strategies to strengthen their market presence?
The major companies in smart lighting includes Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Acuity Brands, Inc. (US), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany). Signify (Netherlands), is the dominant player in the global smart lighting market. The major strategies adopted by these players are acquisitions, partnerships, and product launches & devleopments.
Which is the potential market for smart lighting in terms of region?
Asia Pacific (APAC) is expected to be the fastest-growing market for smart lighting systems during the forecast period. Increasing construction activities in Asia Pacific are contributing significantly to the growth of the smart lighting market in the region. There are several new opportunities for energy-efficient lighting and advanced lighting systems in the next few years as ~200 million homes 18 million homes are expected to be constructed in China and India, respectively.
Which are the major opportunities in the smart lighting market?
Growing inclination towards energy efficient lighting solution is the major opportunity in market. Utility operators, and building and industrial energy managers are inclined toward using energy-efficient lighting solutions due to various reasons, such as the increasing price of energy, growing focus on reduction of carbon footprint, and rising demand from customers for energy-efficient lighting products.
Which type of communication technology will be widely used in the smart lighting market?
Wired communication technology is widely used in smart lighting market. Wired communication technologies of the smart lighting market include Digital Addressable Lighting Interface (DALI), Power-line Communication (PLC), Power over Ethernet (PoE), and various wired hybrid protocols that include various company-specific proprietary protocols. Wired communication protocols are preferred where performance and reliability are crucial.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Which are the major applications of service robots? How huge is the opportunity for their growth in the next five years?


The major applications includes domestic (floor cleaning, pool cleaning, lawn mowing), medical (surgery and handicap assistance). Field (harvest management, field farming, dairy and livestock management), defense, rescue and security (demining, fire & bomb fighting and border security and surveillance), entertainment, education, companionship and elderly assistance, public relations, inspection & maintenance of pipeline,powerplant, and energized transmission lines, logistics (warehouse automation and last mile delivery), construction & demolition, marine (oceanography, environmental protection& monitoring and archaelogical exploration), research and space exploration. Which will lead to market opportunity of USD 7.0 billion by 2025.
Which are the major companies in the service robotics market? What are their major strategies to strengthen their market presence?
The major companies include iRobot (US), SoftBank Robotics Group (Japan), Intuitive Surgical (US), Delaval (Sweden), Daifuku (Japan) and CYBERDYNE (Japan). The major strategies adopted by these players are new product launches and partnerships and collaborations.
Which is the potential market for service robots in terms of region?
APAC is the highest growing region for this market. This is due to the rise in disposable income due to increasing industrialization in developing countries such as India and the Philippines is expected to increase the demand for service robots. The oil & gas industry in APAC has witnessed significant growth in the past 2–3 years, which is leading to a high demand for autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). There is an increasing trend of automation and globalization in India, Australia, and China, which is further boosting the service robotics market in APAC.
Which are the major components of a service robot? How huge is the opportunity for their growth in the next five years?
The major components of service robot includes hardware (propulsion systems, cameras, sensors, navigation system, airframes, control systems, actuator, power supply, motor driver, bluetooth slave, and end effector) and software . Which will lead to market opportunity of USD 7.9 billion by 2025
Which type of robot will be widely used for the logistic application?
In logistics drones, automatic guided vehicles, powered exoskeletons, and telepresence robots are used widely. In 2019, AGVs held the largest share of 64% of market for logistics application.



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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Tuesday 26 May 2020

Which is the dominating and potential market for IIoT in terms of region?

APAC held the largest share of the IIoT market. Moreover, the IIoT market in this region is projected to grow at the highest CAGR during the forecast period. Rapid industrialization in emerging economies such as China and India, as well as in the Southeast Asian countries is leading to the increased adoption of IIoT solutions in APAC.

Which verticals are expected to drive the growth of the market in the next 5 years?

The retail and agriculture vertical segments of the IIoT market are expected to grow at a high CAGR during the forecast period. The implementation of GPS-enabled precision farming technologies and analytics is enabling agriculturists to extract optimum yields. The demand for smart beacons and electronic shelf labels (ESL) is expected to increase from 2020 to 2025. Both these technologies are key enablers for carrying out store automation in the retail sector.

Who are the leading vendors operating in this market?

GE (US), ABB (Switzerland), Siemens (Germany), Honeywell (US), Rockwell Automation (US), Cisco (US) and Huawei Technologies (China), are some of the major vendors operating in this market

What are the drivers and opporunities prevalent in this market?

Increasing use of cloud computing platforms, support from governments of different countries for R&D activities related to IIoT and decreased costs of automation are major driving factors. Predictive maintenance of machinery, increased number of data centers, and requirement of innovative cross-domain expertise and collaborations for the development of comprehensive systems and solutions act as expected to create new oppurunities IIoT market.

Which are the major device and technologies for IIoT? How huge is the opportunity for their growth in the next five years?

The major device and technology includes networking technologies, industrial robotics, sensors, condition monitoring and DCS. Decreasing cost of storing and processing of data and increasing convergence of Internet and industrial networks are the prime factors driving the growth of the IIoT market globally, Which will lead to market opportunity of USD 110.6 billion by 2025.

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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Which are the potential applications for camera modules for next 5 years?


Consumer electronics application to lead the market while automotive is expected to have the highest CAGR during the forecast period. Consumer electronics products such as smartphones, tablet PCs, and wearables undergo rapid technological advancements. Along with the increasing competition in the consumer electronics industry, growing demand from end-use consumers is driving the advancements in different components such as camera modules. Smartphones are the major product to contribute significantly.
What major factors that would provide opportunity for the market?
Major opportunities in the market include government initiatives pertaining to increase safety level in vehicles leading to the adoption of ADAS, the emergence of autonomous vehicles, growing applications of AR & VR devices
Will automotive application play important role for camera modules for next 5 years?
The automotive sector holds high growth opportunities for the camera modules market after consumer electronics application and is expected to grow at the highest CAGR. Factors accounting for the significant growth and share of automotive applications in camera modules market include the adoption of ADAS in vehicles by different automobile OEMs, government mandates to introduce advanced safety features in vehicles, increasing level of vehicle autonomy, and increasing demand for various safety features in vehicles from end-users
Which are the major companies in the market? What are their major strategies to strengthen their market presence?
LG Innotek (South Korea), Sunny Optical Technology (Group) Company Ltd. (China), Sharp Corporation (Japan), Samsung Electro-Mechanics (South Korea), OFILM Tech Co., Ltd. (China), ams (Austria), Chicony Electronics Co., Ltd. (Taiwan), MCNEX Co. Ltd. (South Korea), Primax Electronics Ltd. (Taiwan), Q Technology (Group) Company Ltd. (China), are among few major players in the market. Partnership and collaborations, product launches are some of the important strategies in the market followed by players to strengthen their presence.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Which are the major opportunities in the HVAC system market?


The rapid transformation of IoT within HVAC industry and increasing penetration of VRF systems in residential and commercial applications can offer opportunity for HVAC system market globally.
Which are the major applications of this market?
The commercial application is expected to lead the HVAC system market. The growth is due to increasing adoption of HVAC systems in commercial buildings, growing demand for energy-efficient devices, and increasing consumer awareness toward energy conservation in developing regions.
Which region is expected to witness significant demand for HVAC systems in the coming years?
APAC is expected to have the largest market share in terms of value, as the region. Countries such as China, Japan, and India are a few of the major contributors to the HVAC system market in the APAC region. Growing construction activities and rising population are a few of the factors boosting the growth of the HVAC system market in the region.
Which are the major companies in the market? What are their major strategies to strengthen their market presence?
Daikin, Ingersoll Rand, Johnson Controls, LG Electronics, and United Technologies are some of the major companies providing HVAC systems. The key strategies adopted by most of the companies operating in the HVAC system market include product launches, partnerships, joint ventures, and agreements, acquisitions, and expansions.
Why there is increasing need of heat pumps? Which heating equipment is expected to drive the growth of the market in the next 5 years?
Heat pumps are gaining higher acceptance owing to their multiple capabilities. Many models feature both cooling and space heating capabilities and a few also have the ability to heat water. Further, heat pumps have higher efficiency compared with many other cooling or space heating units, which is expected to increase the demand for the same in next 5 years.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441


Sunday 24 May 2020

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.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Digital Printing Market worth 28.85 Billion USD by 2023 with a growing CAGR of 4.48%


According to the new market research report "Digital Printing Market for Printers, Inks, and Print Heads by Ink Type (Aqueous, Solvent, UV-Curable, Latex, and Dye Sublimation), Print Head Type (Inkjet and Laser), Substrate Type (Glass, Textile, Paper), and Geography - Global Forecast to 2023", The digital printing market was valued at USD 22.18 Billion in 2017 and is expected to reach USD 28.85 Billion by 2023, at a CAGR of 4.48% between 2017 and 2023. The growing demand for sustainable printing, development of packaging and textile industries worldwide, and reduction in per unit cost of printing with digital printers are expected to drive the growth of the digital printing market worldwide.
The ink market for digital printing to hold a major share of the digital printing market during the forecast period
The ink market for digital printing is expected to hold the largest share of the digital printing market between 2017 and 2023. The overall digital printing market includes digital printer market, ink market for digital printing, and print head market. Ink market for digital printing has the largest share of the overall market owing to its extensive benefits in digital printing such as they are waterproof and UV-resistant, and do not have any significant environmental impact.
UV-cured ink is expected to hold the largest share of the ink market for digital printing
UV-cured ink is expected to hold the largest share between 2017 and 2023. UV-cured ink for digital printing is the fastest-growing segment, which offers various advantages such as quick drying, environment-friendly, low price, and resistance to UV rays, which are very important for printing on plastics, textiles, and others. As a result, UV-cured ink is increasingly replacing solvent ink despite being more expensive.
Inkjet print head held the largest share of the print head market for digital printing in 2016
Inkjet print heads can print at an average speed of 13–15 pages per minute (PPM) and can print over a large variety of surfaces such as brochures, T-shirts, and others. Also, the color quality of a color inkjet print head is superior to a laser print head. Along with the growing technology, manufacturers of inkjet print heads have been providing inkjet print heads with reduced running cost and faster printing speed for digital printing. These aforementioned factors have led to the widespread adoption of inkjet print heads in the architecture, engineering, and construction (AEC) industry.
North America held the largest share of the digital printing market in 2016
North America held the largest share of the digital printing market in 2016. The market in North America has many startups and favorable compliance and government regulations. Enterprises in this region have a rapid growth rate and a heavy demand for digital printing. Because of favorable government regulations, European companies are also investing in the North American market. Some of the major players in the market are Xerox (US), Hewlett-Packard (US), and Ricoh (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.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

8K Technology Market worth $26.8 billion by 2024


According to the new market research report "8K Technology Market by Product (Television (OLED, LED-LCD, QD-LCD, Micro-LED), Monitor & Notebook, Professional Camera, Projector), End User (Consumer, Sports & Entertainment, Medical), and Geography - Global Forecast to 2024", The 8K technology market is projected to grow from USD 2.9 billion in 2019 to USD 26.8 billion by 2024 growing at a CAGR of 55.5%. Advancements in display technology, financial assistance by governments, and expansion of production capabilities for 8K UHD display panels; availability of various products for the creation and delivery of 8K content; and increased demand for larger-sized TVs with higher resolution are a few major factors driving the 8K technology market growth.
“Television segment to register highest CAGR in 8K technology market during forecast period “
The 8K technology market has been segmented on the basis of products into 4 categories: Televisions, projectors, professional cameras, and monitors and notebooks. Among these products, television is expected to be the fastest-growing segment in the overall 8K technology market. Consumers are showing interest in large-screen TVs with better picture quality as they want theater-like experience at home. Hence, the market for 8K TVs is likely to witness significant growth in the coming years. Enhanced picture quality and image depth, more vibrant and brighter colors, bigger screen, and high demand for smart TVs owing to their capability to allow users to install apps and pull content digitally from anywhere are among a few major factors that attract customers toward products based on this technology. However, owing to the limited content availability and high cost, 8K televisions are not offering significant value addition to early buyers compared to 4K televisions.
“Consumers segment to account for largest share of 8K technology market during forecast period”
The consumers segment is expected to hold the largest market share during the forecast period. The 8K resolution has a variety of applications for consumers. It can be used in TVs, cameras, projectors, and so on. Increasing demand for large-sized televisions by consumers for enhanced picture quality and image depth is the major factor driving the growth of the 8K technology market. Additionally, the sports & entertainment Industry is expected to hold the second-largest share of the 8K technology market.
“North America held largest share of 8K technology market in 2018”
The 8K technology market, by geography, has been broadly classified into North America, Europe, APAC, and RoW. In terms of value, North America held the largest share of the market in 2018. It is one of the leading regions and is expected to witness high growth in the 8K technology market in the coming years. North American companies are focusing on entering into partnership agreements to develop 8K products with collaborative efforts, as well as on increasing their expenditure in R&D, keeping in mind the potential of new technology. The US is the leading country in North America with high demand for 8K products including TVs, cameras, projectors, and monitors. Increasing demand for large-sized TVs with high resolution drives the 8K technology market growth in the country.
Samsung Electronics (South Korea), LG Electronics (South Korea), Sony Corporation (Japan), JVCKENWOOD Corporation (Japan), Sharp Corporation (Japan), Canon Inc. (Japan), Red Digital Cinema (US), Dell Technologies (US), Leyard Optoelectronic (China), and Digital Projection (UK) are the major players in the 8K technology 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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Thursday 21 May 2020

Document Management Systems Market | Industry Analysis and Market Forecast to 2023 | MarketsandMarkets


The document management systems market is expected to reach USD 6.78 Billion by 2023, at a CAGR of 11.17% during the forecast period. Growth in this market is mainly driven by factors such as the increasing need to streamline business operations, benefits of digitalizing content across enterprises, and the increasing need to adhere to compliance requirements.
Document management systems are mainly used for the storage and retrieval of self-contained electronic data sources in the document form. These systems are designed to help organizations manage the creation and flow of documents through a centralized repository. Document management systems play a pivotal role in sourcing, monitoring, and managing content and extracting intelligible strategic business insights from the voluminous content generated by enterprises. Owing to this, there is an increased demand for document management systems mostly among enterprises as data is regarded as a corporate asset in enterprises.
In this report, the size of the document management systems market has been arrived at based on segments such as offerings, deployment mode, organization, applications, and regions. Depending on the organization, document management systems can be installed in both small and medium-sized enterprises (SMEs) as well as large enterprises. Based on deployment mode, the market is further segmented into on-premise, cloud-based, and hybrid models. On the basis of applications, the market is further classified into banking, financial services, and insurance (BFSI); government; healthcare; education; corporate; industrial manufacturing; retail; and other applications.
The document management systems market, by offering, is segmented into solutions and services. The solutions segment is growing at a significant rate due to the increasing demand for document management, digital asset management, and eDiscovery by enterprises to achieve a strategic advantage and streamline their document management operations to minimize risks.
The market has been segmented on the basis of deployment mode into on-premise, cloud-based, and hybrid deployment modes. The hybrid segment is estimated to be the fastest-growing segment of all the deployment models due to benefits such as better flexibility, technical control, enhanced security, and improved adherence to compliance requirements.
The document management systems market has been segmented on the basis of organization into small and medium-sized enterprises (SMEs) and large enterprises. The market for SMEs is expected to grow at a higher rate. Growth in this segment is projected to be steady during the next 5 years, mainly because of the deployment of innovative technologies such as Social, Mobility, Analytics, and Cloud (SMAC) by new entrants in the market, which is compelling existing players to modernize their traditional IT infrastructures to meet changing customer requirements.
Moreover, the market is segmented on the basis of application into BFSI, government, education, healthcare, corporate, industrial manufacturing, retail, and other applications. The BFSI segment is expected to hold the largest share of the market during the forecast period. Document management systems play a pivotal role in the BFSI sector in terms of gathering and managing all the financial data. These systems also provide enhanced data security and access controls in the event of cyber-attacks, bank robberies, and natural disasters. The deployment of document management systems in the BFSI sector ensures better accountability, risk management, operational management and end-to-end content governance, and better management among different functional departments.

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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Media Gateway Market by Technology & Type - Global Forecast 2023 | MarketsandMarkets


The media gateway market is expected to reach USD 2.19 billion by 2023 from USD 2.03 billion in 2018, at a CAGR of 1.46% during the forecast period. Major factors driving the growth of the market include the need for high-quality communication over disparate networks; the modular structure of media gateways providing high flexibility to legacy networks; and session border functionality of integrated media gateways.

Digital media gateways hold a larger share of the overall media gateway market. These gateways convert media streams in the form of digital data telecommunications for aiding voice, video, and fax services, among others, between dissimilar interfaces using different technologies. With the increase in the need for flexible and efficient solutions for a wide variety of call-control protocols and secure SIP trunking in an established voice infrastructure, the demand for digital media gateways is also increasing.

The media gateway market for hybrid technology-based gateways is expected to grow at the highest CAGR during the forecast period. The hybrid technology-based media gateways include both wireline and wireless technologies to serve both functionalities through a single device. At present, the media gateway manufacturers are offering these gateways to allow the end users to integrate them with the existing wired infrastructure and wireless or next-generation networks.

The market for the others verticals, including hospitality, media and entertainment, education, and retail, is expected to grow at the highest CAGR between 2018 and 2023. The factors driving the media gateway market for this segment include the growing need for media transcoding for next-generation networks, HD voice transcoding for high-quality communications over disparate networks, and need for flexible and low-cost transcoding devices in these verticals.

APAC is projected to account for the largest share of the global media gateway market by 2023. The countries such as Japan, India, Australia, Singapore, and China are highly dependent on the Internet and telecommunication services. The adoption of these services allows the companies to concentrate on their core business objectives. The emerging markets in this region are expected to be the largest contributors to the massive long-term growth of media gateways in the future despite the IP telephony currently being one of the effective options for connectivity in some developing countries across this region.


Dominant players in the media gateway market are Nokia (Finland), AudioCodes (Israel), Avaya (US), Ribbon Communication (US), Ericsson (Sweden), Huawei (China), Cisco Systems (US), Dialogic (US), Synway Information (China), and ZTE (China), 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.
Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Power Tools Market by Source, Type, Application & Geography| COVID-19 Impact Analysis


The global power tools market is projected to reach USD 41.7 billion by 2024 from USD 31.8 billion in 2019, at a CAGR of 5.5% during the forecast period.
The power tools industry is witnessing innovations in every aspect of tool design, ergonomics, efficiency and productivity, battery performance, and other connectivity technologies. Manufacturers are investing more in cordless power tools to better position themselves in a highly competitive power tools market.
The power tools market for material removal tools to grow at a significant rate from 2019 to 2024.
Material removal tools such as grinders are used for abrasive cutting, grinding, and polishing applications. They are mostly used in metal fabrication shops, automotive worksites, and construction sites. Other material removal tools, such as belt sanders, delta sanders, and orbital sanders, are used in industrial and residential applications. Rising demand for material removal tools in industries such as automotive, motor vehicle, and aerospace is driving the growth of the power tools market.
The Power Tools market for electric-powered equipment to grow at a higher CAGR from 2019 to 2024.
Increasing demand for cordless electric power tools is driving market growth. Power tool manufacturers are focusing on producing cordless tools by launching cordless versions of electric power tools types. The growth of electric power tools is fueled by innovations in lithium-ion battery technology. The energy density of lithium-ion is typically twice than that of the standard nickel–cadmium. In addition, self-discharge in a lithium-ion battery is less than half when compared with nickel–cadmium when the tool is not in use.
Residential/DIY applications are likely to exhibit the highest growth in the power tools market during the forecast period.
One of the biggest trends in the power tools market is the growing trend of DIY culture. All advances in power tools have made easier for DIY enthusiasts to use power tools. This, along with the drop in the availability of professionals working on household jobs, and the availability of ergonomic, user-friendly power tools have stimulated growth in the do-it-yourself (DIY) market. Electric power tools are mostly used by DIY consumers for residential refurbishment and improvement projects.
Remodeling and renovation projects are growing at a faster rate than new construction projects. This is especially true in residential projects wherein there is heightened interest in remodeling and refurbishing existing homes rather than purchasing new ones among consumers. Therefore, the use of power tools by DIY enthusiasts for remodeling and renovation projects is driving the demand for power tools, especially in developed countries.
Power Tools Market in APAC to grow at fastest CAGR during forecast period”
APAC is the emerging market for power tools. The market in this region is expected to grow at the fastest rate during the forecast period. Rising urbanization, growing manufacturing industry, and increasing automotive sales in this region are the key factors fueling the growth of the market in APAC. China and India are the major countries in APAC that are witnessing significant growth in GDP. According to the Organization for Economic Cooperation and Development, India’s GDP growth will hover near 7.5% by 2020 compared with 7.25% in 2019.
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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441