Outdoor Power Equipment Market worth $35.8 billion by 2026

 The report "Outdoor Power Equipment Market by Equipment Type (Lawn Mower, Chainsaw, Trimmer & Edger), Applications (Commercial, Residential/DIY), Functionality (Connected/Smart, Conventional), Power Source (Fuel, Electric) and Region - Global Forecast to 2026", size is estimated to be USD 26.4 billion in 2021 and is projected to reach USD 35.8 billion by 2026, at a CAGR of 6.3%. Growing affinity for beautification of properties and yard maintenance activities are driving the demand for outdoor power equipment worldwide. Growing potential of construction sector owing to increasing infrastructural projects worldwide, increasing adoption of battery-powered equipment, and rapidly growing demand for commercial landscaping services are key factors promoting the growth of the outdoor power equipment market.

Saws are expected to register the highest growth during the forecast period

The market for saws is projected to witness the highest growth rate from 2021 to 2026. The growing demand for chainsaws can be attributed to the increasing adoption by professional arborists and loggers in the forestry sector. Chainsaws are majorly used in chopping of wood in deforestation and infrastructural projects necessary to accommodate residential and commercial establishments. Another major end user of chainsaws are sculptors who utilize chainsaws for carving and decorating activities.

Commerical application to grow at the highest rate during review period

Commercial end users can be segregated into construction sector professional, professionals in the forestry sector, professional landscaping service providers, and professional turf care service providers. Increasing potential of the construction sector for undertaking several projects with recent government initiatives supporting the construction sector is a major factor contributing to the growing adoption of outdoor power equipment. Furthermore, initiatives undertaken by government and municipalities for adopting eco-friendly equipment are increasing demand for cordless portable electric-powered equipment for maintenance of public spaces such as parks.

Electric-powered equipment to grow at the highest rate during review period

Recent technical developments owing to massive R&D investments by major players, have significantly improved the power and operating period of electric-powered equipment. Additionally, electric-powered equipment is preferred more for precision work due to their lightweight and compact frame, and portability. Moreover, increasing adoption by homeowners and do-it-yourself (DIY) enthusiasts for better ergonomics and comfort is fuelling the demand for electric-powered equipment. Furthermore, government and municipalities across regions are taking initiatives to encourage consumers to adopt eco-friendly solutions.

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The outdoor power equipment market in North America is expected to grow significantly from 2021 to 2026

In North America, there exists a culture of lawn and garden care, which is further increasing as a result of growing affinity of people towards gardening activities and increasing number of private lawns. Additionally, there is an increasing demand for do-it-yourself techniques in the region, which is driving homeowners to undertake several refurbishment and beautification projects. Moreover, the participation of North America in turf sports such as Golf is witnessing massive year-on-year growth. Increasing demand for landscaping services by both residential and commercial establishments is another major factor fueling the demand for outdoor power equipment. Furthermore, government regulations to reduce environmental impact is also driving demand for electric-powered equipment in the region.

Major companies operating in the outdoor power equipment market include Briggs & Stratton (US), Deere & Company (US), HONDA (Japan), Husqvarna (Sweden), Makita (Japan), Robert Bosch (Germany), Stanley Black & Decker (US), STIHL Group (Germany), Techtronic Industries (TTI) (Hong Kong), and The Toro Company (US).

About MarketsandMarkets™                                                                                                        

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

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

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

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Industrial Communication Market worth $26.8 billion by 2027

 

According to a research report "Industrial Communication Market by Offering (Component, Software and Services), Communication Protocol (Fieldbus, Industrial Ethernet and Wireless), Vertical (Automotive, Engineering/Fabrication) and Region - Global Forecast to 2027", is projected to grow from USD 18.8 billion in 2022 to USD 26.8 billion by 2027; it is expected to grow at a CAGR of 7.4% during the forecast period. Owing to COVID-19, the industrial communication market faced some headwinds for 2020–2021. A digital twin is a virtual model of a product, process, or service. The actual product, process, or service pairs with the virtual model, allowing data analysis of the product or operation, remote monitoring of the system, and prevention of downtime. An Increase in the use of digital twin to safely monitor smart manufacturing operations has been witnessed in the last few years. The governments of different countries across the world are also supporting the development of industries to ensure the holistic development of the country. This has led to the adoption of various automation and communication components and technologies for the structural development of industries.

Switches to account for the largest share of the industrial communication component market by 2027

Switches are used to establish an industrial network by interconnecting computers. Switches provide high security and durability and are suitable for mission-critical environments. They provide a reliable communication network for machine tools and motion control applications in process and discrete industries. Switches are energy-efficient, durable, and robust. The rising demand for network availability in various automation applications creates a need for additional features, such as industrial-grade reliability, network redundancy, seamlessly integrated security, and the best price-to-performance ratio.

Wireless segment to grow at the highest CAGR for the industrial communication market during forecast period

Wireless communication has a huge potential and plays an essential role in the modernization of plants by offering high bandwidth, covering a large area, and optimizing complex logistics and production processes. Wireless communication and related products have numerous applications, especially in industrial systems such as cranes, automated guided vehicle systems, remote control/remote maintenance systems, as well as in process industries for measuring physical parameters, such as pressure, temperature, and liquid levels.

Automotive Vertical to register the highest share for industrial communication market in 2022

The automotive industry continues to evolve at an impressive pace with the adoption of automation and connectivity. However, component manufacturers strive to address the growing need for bandwidth and cost-effectiveness. To improve the quality of vehicles and overall production efficiency, manufacturers invest substantial time and money in developing and improving the manufacturing process and rely heavily on technological innovations. Industrial communication solutions leverage the benefits of the industrial internet to connect machines, data, and people to attain an unmatched level of information visibility and manufacturing insight. This helps accelerate production, improve quality, and lower costs.

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Market in APAC to register largest share during the forecast period

The major application industries of industrial communication solutions in Asia Pacific are chemicals, oil & gas, semiconductors, consumer electronics, and automotive. Asia Pacific has emerged as an auto-manufacturing hub in the world. Hence, motor vehicle suppliers such as Volkswagen, Toyota Motor Corporation, Renault-Nissan Alliance, Daimler, and local manufacturers such as Tata Motors and Mahindra and Mahindra have made investments to automate their automobile production sites. Asia Pacific also has a large number of small- and medium-sized enterprises (SMEs). Hence, there is a requirement for significant investments to successfully implement industrial control system security projects ins SMEs for adopting strong security practices in their manufacturing units.

Major vendors in the industrial communication market include Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), ABB (Switzerland), Belden (US), GE Grid Solutions (France), Advantech (Taiwan), HMS Networks (Sweden), IFM Electronic (Germany), Mitsubishi Electric (Japan), Ericsson (Sweden), Honeywell (US), FANUC (Japan), AAEON (Taiwan), Turck (US), and Bosch Rexoth (Germany).

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                                   

Industrial Communication Market worth $26.8 billion by 2027

 According to a research report "Industrial Communication Market by Offering (Component, Software and Services), Communication Protocol (Fieldbus, Industrial Ethernet and Wireless), Vertical (Automotive, Engineering/Fabrication) and Region - Global Forecast to 2027", is projected to grow from USD 18.8 billion in 2022 to USD 26.8 billion by 2027; it is expected to grow at a CAGR of 7.4% during the forecast period. Owing to COVID-19, the industrial communication market faced some headwinds for 2020–2021. A digital twin is a virtual model of a product, process, or service. The actual product, process, or service pairs with the virtual model, allowing data analysis of the product or operation, remote monitoring of the system, and prevention of downtime. An Increase in the use of digital twin to safely monitor smart manufacturing operations has been witnessed in the last few years. The governments of different countries across the world are also supporting the development of industries to ensure the holistic development of the country. This has led to the adoption of various automation and communication components and technologies for the structural development of industries.

Switches to account for the largest share of the industrial communication component market by 2027

Switches are used to establish an industrial network by interconnecting computers. Switches provide high security and durability and are suitable for mission-critical environments. They provide a reliable communication network for machine tools and motion control applications in process and discrete industries. Switches are energy-efficient, durable, and robust. The rising demand for network availability in various automation applications creates a need for additional features, such as industrial-grade reliability, network redundancy, seamlessly integrated security, and the best price-to-performance ratio.

Wireless segment to grow at the highest CAGR for the industrial communication market during forecast period

Wireless communication has a huge potential and plays an essential role in the modernization of plants by offering high bandwidth, covering a large area, and optimizing complex logistics and production processes. Wireless communication and related products have numerous applications, especially in industrial systems such as cranes, automated guided vehicle systems, remote control/remote maintenance systems, as well as in process industries for measuring physical parameters, such as pressure, temperature, and liquid levels.

Automotive Vertical to register the highest share for industrial communication market in 2022

The automotive industry continues to evolve at an impressive pace with the adoption of automation and connectivity. However, component manufacturers strive to address the growing need for bandwidth and cost-effectiveness. To improve the quality of vehicles and overall production efficiency, manufacturers invest substantial time and money in developing and improving the manufacturing process and rely heavily on technological innovations. Industrial communication solutions leverage the benefits of the industrial internet to connect machines, data, and people to attain an unmatched level of information visibility and manufacturing insight. This helps accelerate production, improve quality, and lower costs.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=146536397

Market in APAC to register largest share during the forecast period

The major application industries of industrial communication solutions in Asia Pacific are chemicals, oil & gas, semiconductors, consumer electronics, and automotive. Asia Pacific has emerged as an auto-manufacturing hub in the world. Hence, motor vehicle suppliers such as Volkswagen, Toyota Motor Corporation, Renault-Nissan Alliance, Daimler, and local manufacturers such as Tata Motors and Mahindra and Mahindra have made investments to automate their automobile production sites. Asia Pacific also has a large number of small- and medium-sized enterprises (SMEs). Hence, there is a requirement for significant investments to successfully implement industrial control system security projects ins SMEs for adopting strong security practices in their manufacturing units.

Major vendors in the industrial communication market include Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), ABB (Switzerland), Belden (US), GE Grid Solutions (France), Advantech (Taiwan), HMS Networks (Sweden), IFM Electronic (Germany), Mitsubishi Electric (Japan), Ericsson (Sweden), Honeywell (US), FANUC (Japan), AAEON (Taiwan), Turck (US), and Bosch Rexoth (Germany).

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         

The Future of the VSaaS Industry and VSaaS Market Growth (New Report)

 

The VSaaS market is projected to grow from USD 3.3 billion in 2022 and is projected to reach USD 7.6 billion by 2027; it is expected to grow at a CAGR of 18.0% from 2022 to 2027.

The growth of this market is driven by factors such as the low cost of investment, the rise in demand for real-time surveillance data, and flexible scalability offered by VSaaS.

AI-based video analytics is a new technology that is revolutionizing the VSaaS industry. This technology is gaining more adoption across retail, smart cities/transportation, retail, industrial, and healthcare sectors. AI-based video analytics majorly focus on detecting temporal and spatial events in video footage automatically. This technology helps users to provide higher accuracy and performance as well as more refined results compared to motion or sensor-based analytics. According to the Artificial Intelligence Global Surveillance Index 2022, at least 78 out of 179 countries globally are actively using AI-based surveillance technologies. The proliferation of AI analytics in surveillance and monitoring will fuel the market growth of VSaaS. 

The market for managed VSaaS is expected to be one of the fastest-growing segments during the forecast period. Managed VSaaS services help organizations reduce manpower, save operational costs, and focus on their core business. This service allows the use of existing devices for video recording and storage. Such benefits offered by the managed VSaaS result in the increased adoption in various applications, such as retail stores, small businesses, enterprises, hospitals, and financial institutions. The recent COVID-19 pandemic has led to an increase in the adoption of managed video solutions due to their high feasibility and accessibility. They are being used to increase the safety and security of employees as well as to maintain proper social distancing norms.

The public facilities vertical segment will grow at a faster rate in VSaaS market during forecast period. Safety is a crucial component to consider in public parks, communities, neighbourhoods, and other municipal districts. Buildings in public facilities are prone to terrorist attacks, so it is important to view and monitor security on their premises. VSaaS is a reliable solution to monitor security in and around such buildings. Its increasing use of VSaaS in educational buildings to enhance the security of students, staff, and visitors creates opportunities for service providers.

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In terms of geographic coverage, the VSaaS market has been segmented into four regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). The market in Asia Pacific is expected to record the highest growth rate during the forecast period. The market growth is credited to the increasing number of infrastructure development and smart cities projects in China, South Korea and Japan. These projects requires continuous video monitoring to ensure public safety, traffic control, and city-wide video surveillance, which further increases the adoption of VSaaS.

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                                   

                                                      

 

Turning Data into Action: The Future of the Building Automation System Industry

The building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027.

A building automation system (BAS) refers to a combination of electrical and electronic control systems that comprise a range of sensors, actuators, controllers, and software. These sensors and controllers govern heating, ventilation, and air-conditioning (HVAC) systems, lighting systems, fire safety alarms, and security and access control systems installed in a building for the safety and convenience of the occupants. With rapid technological advancements and high requirements for reduction in buildings’ energy and maintenance costs, the implementation of building automation systems in residential, commercial, and industrial structures is expanding. The necessity of these systems is more evident in large complexes as operating costs for managing and controlling these buildings manually are much higher. Building automation systems regulate room temperature and safety lights to provide freshness and comfort inside a building. HVAC and lighting controls are the two areas where huge energy savings are strongly needed to recuperate the overall maintenance cost. Along with energy savings, building automation systems enhance the security and safety of a building by remotely monitoring device performance and failures. Additionally, building automation systems provide building operators with alarms when systems start malfunctioning; they also enable video monitoring for real-time surveillance. The increasing global concerns for energy conservation and the rising energy costs are fuelling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth.

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The increasing global concerns for energy conservation and the rising energy costs are fuelling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth in North America. The high demand for lighting control systems and security and access control systems in this region has further contributed to the growth of the market in North America. The presence of a number of manufacturers of building automation systems in North America, including Honeywell International (US), Carrier (US), Delta Controls (Canada), and Hubbell (US), also drives the growth of the market in the region. Asia Pacific is expected to account for the largest share of the building automation system market during the forecast period. The rapid growth of the construction industry in emerging economies such as China and India and the government initiatives for energy conservation have contributed to the growth of the building automation system market in the region.

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                                   

                                                      

 

Innovations in the Global Smart Glass Market

 The global smart glass market is projected to grow from USD 5.0 billion in 2022 to USD 8.2 billion by 2027; it is expected to grow at a CAGR of 10.4% from 2022 to 2027. The key factors fueling the growth of this market include increasing importance of smart glass in the healthcare industry, rising use of smart glass in automobile applications and government support for energy-efficient construction

The smart glass has promising growth potential due to several factors; including minimalist design architecture has huge potential for smart glass, high potential in solar power generation plants, growing need for sustainable buildings and rising demand for energy-efficient products.

During the projected period, the Asia Pacific market is predicted to develop at the highest CAGR. The smart glass market in Asia Pacific is expected to provide promising growth opportunities in the coming years owing to the massive adoption of energy-efficient smart window solutions in China. Recovering construction activities and emerging green policies established by the Chinese government are expected to make China one of the hot revenue pockets for the smart glass market. Research in the area of smart glass in this region is prominent. The highest number of patents related to smart glass is filed from the companies in this region.  A prominent research development in this field is, Researchers at Nanyang Technological University (NTU) based in Singapore have developed a hydrogel-based liquid within glass panels that can block the sun to manage solar transmission while retaining thermal heat that can be discharged at any time of day or night, reducing building energy usage. It can reduce 45 % of energy consumption compared 30% reduction of low emissivity glass. Mass industrialization has been witnessed in Asia Pacific in recent years, which has naturally increased the energy demand; hence, energy-efficient products are in huge demand in this region. The growing industrialization, strong government support, and increased need for energy-efficient products are spearheading the demand for smart glass

The automotive application accounted for the largest share of the LC smart glass market by technology. The automotive application accounted for the largest share of ~89% of the overall market for LC technology in 2021. In transportation, LC smart glass is used in windows, doors, partitions, and rear-view mirrors, predominantly in the automotive segment. Aviation utilizes LC smart glass for dimmable windows and doors. The superior performance of smart glass in terms of functionality results in increased demand from the transportation sector. LC smart glass offers complete privacy since it switches to fully opaque. Currently, the applications of LC glass are mainly concentrated in the automotive sector. PDLC films are used for privacy and shading of windows and sunroofs of cars. These films and glass can also be used for privacy and shading of windows, doors, and partitions in ships, yachts, planes, and trains. PDLC films and glass are likely to find more applications in the marine, aviation, and rail sectors in the next few years since consumer awareness about this energy-efficient and simple, smart glass technology is expected to increase.

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Suspended Particle Display technology is projected to register highest CAGR in transportation application during forecast period. Transportation is one of the major application areas of smart glass products. Smart glass is used in doors, windows, sunroofs, windshields, rear-view mirrors, and skylights. Smart glass helps minimize heat generation, provides shading, limits the viewing scope, and offers privacy to users. Suspended particle display is expected to hold the second-largest size of the smart glass market, based on technology, by 2025 owing to its unique fast-switching property and versatility. The growing demand from Asia Pacific, especially China, for high-end luxury cars is boosting the market for .suspended particle display technology .suspended particle display - smart glass is mostly used in the manufacturing of tintable sunglass. By altering the amplitude of the voltage supplied to the glass, SPD-Smart Glass allows for quick and exact control of the amount of light entering a vehicle

UK is expected to capture the largest share of the global smart glass market in European region by 2027. The UK incurs its revenues from tourism, industrialization, and other businesses. The hospitality sector has tremendously grown in this region over the past few decades. As a result, the country holds a significant share of the smart glass market in Europe. The high rate of industrialization has increased the energy consumption in this country; apparently, energy-efficient products have started gaining importance in this region. The governments have framed various policies such as the Kyoto Protocol to conserve conventional energy sources by using energy-efficient products. The Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC) is an international treaty that sets binding obligations on industrialized countries to reduce emissions of greenhouse gases. European architecture, especially in the UK, is one of the oldest and is well-known for its unique designs. The average window size in European buildings is larger than in other regions; thus, the overall glass consumption in the architecture market in the UK is larger, which is expected to attract more investments in the smart glass market in this region

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

Evolution of the Motion Control Industry - Market Size and Growth rate

 

The global motion control market size is estimated to reach from USD 15.5 billion in 2022 to USD 20.0billion by 2027, at a CAGR of 5.2% during forecasted period. Few of the drivers of this market includes the growing adoption of advanced and automated processes for factory automation; safety-enabled productivity in industries; and increasing demand for industrial robots in manufacturing processes.

Sensors have always been a part of industrial automation and motion control systems. These sensors are the vital link between the physical system, collecting data from various machine processes, and the communication links that transmit data to the cloud or other control or monitoring facilities. IIoT sensors for motion are mostly encoders, that is, for position and speed. These sensors have higher-level functions within them, such as processing and decision-making functions that are not off-loaded on the machine. This added intelligence makes machines smarter and the entire process better managed, more efficient and streamlined, saving engineering time and cost.

The drives segment is expected to showcase the highest growth during the forecast period. Drives provide non-emergency start/stop control, acceleration and deceleration, overcurrent, and overvoltage and phase loss protection in motion control systems. Most of the manufacturing facilities are trying to automate their processes, which is increasing the demand for drives.

Semiconductors & electronic industry is expected to hold the second largest share in motion control market during forecasted period. Increasing complexity in semiconductors and electronic equipment-related manufacturing is driving the need for high-tech motors, drives, and motion controllers. Moreover, due to the increased adoption of miniature devices and the revolutionary development of microelectronics, the manufacturing of products needs to be more precise. Motion control solutions help in the precise and controlled movement of a load while manufacturing. Hence, the demand for motion control components in semiconductor and electronics-related applications is increasing.

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Europe to hold the second largest region for motion control market in 2021.  The increase in demand for automobiles, medical devices, and machinery in Europe is driving the growth of the motion control market. Growing awareness regarding more precise methods of motion controlling, advancements in controller capabilities, the ability to control multiple axes and the development of advanced motion controllers are some of the factors contributing to the growth of the motion control market. Manufacturing companies in Europe increasingly focus on automation to increase their productivity and quality. The presence of many automobile, metal, and machinery manufacturing companies in this region is driving the growth of the market in Europe.

Building Automation System Market Size & Share | Industry Report, 2022-2027

 The building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027.

Building automation is an easy way of controlling and monitoring systems installed in buildings. These systems include facility management systems, security and access controls, and fire and life safety alarms. Building automation helps reduce energy consumption in buildings, enhances the comfort level of occupants, and manages building operations effectively. The growth of the building automation system market is fueled by the increasing requirement for energy-efficient facilities with enhanced security systems. Besides this, advancements in wireless communication technologies have reduced the complexity and the cost of installing building automation systems in the existing buildings.

The combination of IoT and building automation has also enabled the exchange of information among several electronic devices and the cloud without the need for direct human intervention that makes buildings smart. This factor has also accelerated the growth of the building automation system market. However, the key restraints faced by the companies operating in this market include the false notion about the high installation costs of building automation systems and technical difficulties in their deployment. The increasing global concerns for energy conservation and the rising energy costs are fueling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth.

Driver: Heightened focus on developing energy-efficient and eco-friendly buildings

The building sector is one of the largest energy-consuming sectors and usually accounts for more than one-third of the total energy consumption worldwide. It is an equally important source of carbon dioxide (CO2) emissions. According to the International Energy Agency (IEA), energy use in buildings represents as much as 80% of the total energy use across specific regions that are highly dependent on traditional biomass. The number of electrical systems used in buildings is rising, which increases energy consumption, as well as CO2 emissions. Hence, the sustainable and efficient use of energy is crucial.

The demand for building automation systems is increasing with the growing focus on the reduction of energy consumption and maintenance costs of buildings. Building automation systems play an important role in optimizing energy usage and reducing energy costs. HVAC and lighting control systems consume maximum energy. According to the IEA, currently, air heating and cooling, together with water heating, account for ~60% of the global energy consumption in buildings. Therefore, they represent a major opportunity to reduce the energy consumption of buildings. Building automation systems also help automate HVAC and lighting systems, saving 5–30% of the overall energy consumption of a building. Moreover, building automation systems assist in reducing the overall building maintenance cost by providing building operators with early diagnosis of operational issues in equipment, if any. This helps prevent losses and inconvenience due to unexpected breakdowns.

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Restraint: False notion about high installation costs of building automation systems

Building automation systems help in saving energy and reducing operating and maintenance costs. However, end users and building owners are reluctant to these systems due to their false perception that the installation costs of these systems are high. They are unaware of the fact that the cost is primarily dependent on the complexity of integration pertaining to a specific application. End users demand affordable building automation systems but fail to realize the extent of the energy savings and the associated benefits of long-term cost savings. On an average, lighting accounts for about 25% of a building’s energy usage. With lighting control systems, the lighting cost can be reduced by 30–60% while enhancing lighting quality and reducing environmental impact. Besides this, the initial investment in building automation and control systems can be easily recovered in a few years as it helps reduce energy costs, maintenance costs, and repair and replacement costs. The perception of the high cost of building automation systems and the lack of awareness about their benefits in terms of long-term cost savings can hinder the adoption and growth of the building automation system market globally.

Opportunity: Rise in government and stakeholder funding for developing smart cities

Nowadays, cities need innovative solutions to overcome long-term challenges such as controlling traffic flows, managing waste, meeting energy-efficiency targets, controlling security breaches, and managing city surveillance owing to rapid urbanization. Governments in developing economies, including China and India, are focusing on developing smart cities through huge government and stakeholder funding to curb the long-term challenges arising from growing urbanization. With increasing threats from terrorism, both international and domestic, public-concentrated areas, including government offices, buildings, schools, and prisons, are exposed to security threats. Thus, governments across the world, especially in developing countries, are concentrating on investing in video surveillance, access control, and fire protection systems for building automation projects in smart cities.

Challenge: Absence of standard communication protocols

The power of building automation systems lies in synchronization and communication among various equipment used in the overall system. Communication protocols play a vital role in ensuring the proper integration of various devices and equipment for the smooth functioning of BAS. However, the lack of common open communication protocols may lead to the use of different protocols by these devices. It restricts the communication between different devices and obstructs the effortless functioning of building automation systems as all protocols may not be directly compatible with each other. For instance, BACnet and LonWorks do not work well with each other but work well with DALI. The building operator needs to select the products based on protocols that are used by several different vendors to avoid complexities. For instance, Clipsal C-Bus is the commonly used building automation system in Australia, while M-Bus is popular in Europe. Manufacturers are looking forward to having proprietary protocols and standards to gain a competitive advantage in the marketplace. This intense competition in the market is leading to the lack of development of products with common standards and communication protocols, thereby hampering the growth of the building automation system market.

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