Spin on Carbon Market Size, Share, Industry Report, Revenue and Growth Drivers - 2028

 The spin on carbon market is projected to grow from USD 199 million in 2023 to USD 747 million by 2028, registering a CAGR of 30.2% during the forecast period. The rapid technological advancements in semiconductor manufacturing, the complexity of integrated circuits, and the development of advanced packaging solutions are expected to propel the spin on carbon in the semiconductor market in the next five years. However, competitive substitution materials will likely pose challenges for industry players.

Driver:  Expansion of EUV (Extreme Ultraviolet) Lithography in Memory manufacturing

With the growing adoption of data-driven technologies, artificial intelligence, and various high-performance computing applications, demand is increasing for more powerful and efficient chips. Prominent companies such as Intel Corporation, Advanced Micro Devices, Inc., and Taiwan Semiconductor Manufacturing Company Limited have invested substantially in EUV lithography equipment. Spin-on-carbon (SOC) hard mask is useful for the multilayer lithography process because of its high etch resistance, low cost of ownership, low defectivity, high alignment accuracy, good gap filling and planarization for topography. The increasing adoption and development of spin on carbon with EUV lithography process by market players are also driving the market growth.

Restraint: Availability of substitute competitive materials

In the field of semiconductor manufacturing, several materials can serve as alternatives or substitutes for spin-on carbon materials that possess comparable or improved properties and performance characteristics. These key substitutes include spin-on metal, spin-on glass, dielectric polymers and coatings, organic polymers, and others. Inorganic hardmasks, such as silicon nitride (SiN) and silicon oxide (SiO2), offer higher etch resistance and thermal stability than SOC. This makes them more suitable for use in advanced semiconductor applications, such as extreme ultraviolet (EUV) lithography.

Opportunities: Continued miniaturization of electronic devices

The growing trend of miniaturization in passive electronic components is leading to their integration into consumer electronics like smartphones, cameras, and speakers. Continued miniaturization of electronic devices indeed creates significant opportunities for the spin on the carbon market. As the demand for smaller, faster, and more energy-efficient electronic devices continues to grow, the role of spin-on carbon materials becomes increasingly critical in enabling the development of advanced semiconductor technologies.

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Challenges: Technical challenges associated with the SOC materials

As the development of new SOC materials and processing methods progresses, the problem of spin-on carbon breakdown at high temperatures is likely to be solved. This will make SOC a more viable option for a wider range of applications.

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Household Robots Industry worth USD 24.5 billion by 2028

 The report "Household Robots Market by Offering, Type (Domestic, Entertainment & Leisure), Distribution Channel, Application (Vacuuming, Lawn Mowing, Companionship, Elderly and Handicap Assistance, Robot Toys and Hobby Systems) and Region - Global Forecast to 2028" The global household robots market size is projected to grow from USD 10.3 billion in 2023 to USD 24.5 billion by 2028;  it is expected to grow at a CAGR of  18.8% from 2023 to 2028. The growing adoption of household robots in household segments for applications like vacuuming, pool cleaning, and companionship, among others, is driving the market during the forecast period. For instance, Initially, robot vacuums were considered high-end gadgets. Over time, their prices have become more competitive, making them accessible to a broader consumer base. The availability of different price points and models has contributed to their popularity.

Companion robot is expected to have significant CAGR growth during the forecast period.

A companion robot’s purpose is to imitate real companionship with human beings. The decline of extended families and the rise of working parents contribute to growing loneliness among children and the elderly and such robots are designed to help them. Some are also designed for educational purposes or to provide an interactive home automation system. For instance, smart speakers are one such device. Almost all companion robots are either shaped in the image of humans, i.e., humanoids, or animals, such as dogs or seals.

Domestic robots to harvest the largest market size during the forecast period.

Domestic robots have diversified to cater to various household needs. Apart from vacuum cleaners and mops, there are robots for lawn care, window cleaning, pet care, and even personal assistance, expanding the range of tasks they can perform. With busier lifestyles and the increasing desire for convenience, domestic robots offer practical solutions. These robots fit into modern living where time is precious, and individuals seek ways to automate mundane tasks.

China is expected to have the largest market size during the forecast period.

China is the fastest-developing country in the Asia Pacific. Cheap labor costs and the rising adoption of household robots have made China favorable for manufacturers to invest in this region. According to the World Bank, China’s population is aging rapidly, wherein people older than 65 years are expected to represent 26% of the population by 2050. This aging population would increase the demand for domestic and assistive robots.

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Key Market Players

The key players operating in the household robots market are iRobot Corporation (US), Ecovacs Robotics Co., Ltd. (China), Xiaomi Corporation (China), Maytronics, Ltd. (Israel), Samsung Electronics Co., Ltd. (South Korea), Neato robotics, Inc. (US), Dyson Limited (Singapore), LG Electronics Inc. (South Korea), LEGO A/S (Denmark), Hayward Holdings, Inc. (US), UBTECH Robotics, Inc. (China), Husqvarna Group (Sweden), Miele (Germany), Robomow (Israel), Cecotec Innovaciones S.L. (Spain), Monoprice, Inc. (US), temi (US), Deere & Company (US), BObsweep (Canada), ILIFE Innovation Limited (China), ILIFE Innovation Limited (China), Sharp Corporation (Japan), SharkNinja Operating LLC (US), Bissell Inc. (US), Blue Frog Robotics (France), and Beijing Roborock Technology Co. Ltd. (China).

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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RF-Over-Fiber Industry worth USD 981 million by 2029

 According to the new market research report "RF-Over-Fiber Market by Component (Optical Cables, Amplifiers, Transceivers, Switches, Antennas, Connectors, Multiplexers), Frequency Band (L, S, C, X, Ku, Ka), Deployment (Underground, Aerial, Underwater), Application, Vertical - Global Forecast to 2029" The global RF-over-Fiber market is expected to be valued at USD 670 million in 2024 and is projected to reach USD 981 million by 2029; it is expected to grow at a CAGR of 7.9% from 2024 to 2029. The RF-over-fiber market is driven by increasing internet demand, rising fiber optic cable needs for higher bandwidth, and the expanding telecommunication industry.

Based on component RF-over-Fiber market for optical cables segment to hold the largest share during the forecast period.

Optical cables secure the largest share in the RF-over-Fiber market owing to their foundational role in facilitating efficient and high-speed data transmission. As the backbone of RF-over-Fiber infrastructure, optical cables, with variations in fiber types (such as glass, plastic, and hybrids) and modes of propagation and assembly, offer a versatile and reliable medium for signal transmission. The demand for optical cables is propelled by their capacity to minimize signal loss over extended distances, ensuring the integrity of radio frequency signals. The adaptability of optical cables to diverse applications, including communication, broadband, and radar systems, solidifies their position as a critical component in RF-over-Fiber networks. The increasing reliance on fiber-optic technology to address the ever-growing data transmission needs across various industries cements optical cables as the dominant and essential component, thus commanding the largest share in the RF-over-Fiber market.

RF-over-Fiber market for the broadband segment to exhibit the highest CAGR market during the forecast period.

Broadband is experiencing the highest CAGR in the RF-over-Fiber market due to the escalating global demand for high-speed internet services. As broadband continues to be a fundamental component of modern communication ecosystems, RF-over-Fiber technology becomes pivotal in delivering reliable and high-performance connectivity. The increasing prevalence of bandwidth-intensive applications, such as video streaming, online gaming, and cloud services, has fueled the need for robust broadband infrastructure. RF-over-Fiber's ability to transmit radio frequency signals over long distances without signal degradation aligns seamlessly with the requirements of broadband networks, making it a preferred solution. The technology's efficiency in supporting the growing data transmission demands positions it at the forefront of enabling broadband expansion, driving its substantial growth in the RF-over-Fiber market.

RF-over-Fiber market for aerial deployment to exhibit the highest CAGR during the forecast period.

Aerial deployment is experiencing the highest CAGR in the RF-over-Fiber market due to its strategic advantages in terms of speed, cost-effectiveness, and accessibility. Aerial deployment provides a rapid and relatively economical solution, particularly in scenarios where establishing physical connections through underground or underwater methods is challenging. This deployment method is especially crucial in communication networks, as it allows for swift and efficient installation, meeting the increasing demand for high-speed and reliable connectivity. Additionally, the growth of aerial deployment is driven by its application in radar and navigation systems, where elevated installations are essential for optimal signal coverage. The flexibility and efficiency offered by aerial deployment positions it as a key driver for the expanding RF-over-Fiber market, leading to its substantial growth with the highest CAGR.

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RF-over-Fiber market for Asia Pacific region to hold the largest share during the forecast period.

Asia Pacific dominates the RF-over-Fiber market, primarily due to the region's rapid technological advancements, extensive investments in telecommunication infrastructure, and burgeoning demand for high-speed internet services. Countries such as China, India, Japan, and South Korea are at the forefront of adopting RF-over-Fiber technology, driven by their commitment to 5G deployment and modernizing communication networks. The densely populated urban areas in Asia Pacific amplify the need for efficient and reliable signal transmission, where RF-over-Fiber excels. Moreover, smart city initiatives, industrial modernization, and the escalating demand for broadband connectivity contribute significantly to the region's prominence in the RF-over-Fiber market. Asia Pacific's proactive approach to embracing advanced communication technologies positions it as a major player, holding the largest share and driving continuous growth in the RF-over-Fiber market.

Key Players

The RF-over-Fiber market includes major Tier I and II players like Coherent Corp. (US), HUBER+SUHNER (Switzerland), EMCORE Corporation (US), G&H Group (UK), SEIKOH GIKEN CO., LTD (Japan), Broadcom (US) and others. These players have a strong market presence of RF-over-Fiber across various countries in North America, Europe, Asia Pacific and Rest of the World (RoW).

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Gas Sensors Industry worth USD 2.3 billion by 2028

 The report "Gas Sensors Market by Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Output Type (Analog, Digital), Technology, Product, Connectivity, Application & Region - Global Forecast to 2028" The gas sensor market is projected to grow from USD 1.5 billion in 2023 and is expected to reach USD 2.3 billion by 2028, growing at a CAGR of 9.7% from 2023 to 2028. The application of gas sensors in smart cities and building automation has witnessed significant growth in recent years. Rapid urbanization and industrialization, have led to a rise in air pollution levels across the world. With urbanization, there has been a rise in the number of vehicles used, an increase in industrial activities, and a rise in energy consumption leading to urban air pollution. The advent of the Internet of Things (IoT) has facilitated air quality monitoring and management in smart cities, with several players launching IoT-based gas sensors.

Wireless gas sensor segment is expected to witness the highest CAGR during the forecast period.

Wireless or portable gas detectors are generally used by individuals or by a group of workers to monitor air quality. These are ideally handheld devices and are used for indoor usage. Portable gas monitors and detectors provide a relatively affordable option to end-users compared with fixed monitors and offer ease in locating the exact source of pollution. Wireless gas sensors are also used in gas monitoring applications to detect the presence of toxic gases for the enhanced safety of personnel. In certain applications, monitoring toxic gases is difficult and dangerous, wherein wireless gas sensors can be used. Wireless gas sensors can thus be used to continuously monitor remote applications such as in automotive & transportation reliably and cost-effectively.

Market for digital output segment is expected to witness the highest CAGR during the forecast period.

Digital gas sensors send and receive strings of characters that a microprocessor or a computer can read. A digital gas sensor normally comprises a gas sensor, a two-wired digital interface, registers for controlling the operation of the IC, and an analog-to-digital converter (ADC). Gas sensors with digital output have several advantages, especially being well-suited for remote applications such as automotive and transportation applications. Moreover, these sensors offer both design and operational advantages over gas sensors with an analog output. They offer enhanced technical performance, improved safety margins, and low maintenance costs.

Volatile organic compounds in the type segment is expected to be the fastest growing market of the gas sensor market during the forecast period.

The VOC segment in the gas sensor market is expected to grow with the highest CAGR during the forecast period. Volatile organic compounds (VOCs) are a wide range of carbon-based (organic) chemicals (compounds) found in various human-made and naturally occurring solids and liquids. They evaporate easily at ordinary room temperature. Substances containing VOCs include solvents, paint thinners, and nail polish removers, as well as vapors associated with fuels such as gasoline, diesel, heating oil, kerosene, and jet fuel; hence, there is an increasing demand for these in the paint and plastic industry.

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Asia Pacific is expected to have the largest share of the gas sensor market during the forecast period.

Asia Pacific region is expected to have the largest market share of the gas sensor market during the forecast period. Asia Pacific is the leading market for gas sensors in the automotive, infrastructure, consumer electronics, and pharmaceutical industries, with major demand from China, India, South Korea, and Japan. The countries of Asia Pacific are witnessing increased demand for gas sensors, and this demand is expected to grow at a significant rate during the forecast period as well. Moreover, the rise in the number of smart city projects in countries such as India and China also leads to increased demand for gas sensors from these countries. Gas sensors are used in several industries such as automotive, oil & gas, chemical, consumer electronics, etc., driving the market demand in the region.

Key Players

Leading players in the gas sensor market include Honeywell International Inc. (US), MSA Safety Incorporated (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), Alphasense (UK), Sensirion AG (Switzerland), Process Sensing Technologies (UK), ams-OSRAM AG (Austria), MEMBRAPOR (Switzerland), Senseair AB (US) and Niterra Co., Ltd. (Japan), Nissha Co., Ltd. (Japan), Renesas Electronic Corporation (Japan), Breeze Technologies (Germany), eLichens (France), Bosch Sensortec GmbH (Germany), Danfoss (Denmark), Edinburgh Sensors (Uk), GASTEC Corporation (Japan), Nemoto & Co., Ltd. (Japan), SPEC Sensors (US), SIA MIPEX (Russia), Cubic Sensor and Instrument Co., Ltd. (China), and Zhengzhou Winsen Electronics Technology Co., Ltd. (China).  are few other key companies operating in the gas sensor market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Spin on Carbon Market worth USD 747 million by 2028

 According to a research report "Spin on Carbon Market by Type (Hot-Temperature Spin on Carbon, Normal-temperature Spin on Carbon), Application (Logic Devices, Memory Devices, Power Devices, Photonics, Advanced Packaging), End User and Region - Global Forecast to 2028" published by MarketsandMarkets, the spin on carbon market is projected to grow from USD 199 million in 2023 to USD 747 million by 2028, registering a CAGR of 30.2% during the forecast period. The market growth is attributed to the increasing demand for advanced packaging solutions and rapid technological advancements in semiconductor manufacturing. Furthermore, continued miniaturization of electronic devices is expected to create lucrative opportunities for the market.

The hot temperature spin on carbon segment is expected to account for the largest share of the spin on carbon market in 2023.

The hot-temperature spin-on carbon segment is a significant market for spin-on carbon in semiconductors. There has been an increase in the demand for spin-on carbon (SOC) materials that work with high temperatures in recent years, which is driving the market growth of hot-temperature SOC. This is due to the fact that as semiconductor technologies advance, the need for materials that can endure high-temperature processes without compromising performance becomes increasingly important. In addition, the major presence of major players providing SOCs is Merck KGaA, Brewer Science, Inc., Irresistible Materials Ltd, and others are also driving the market growth.

Foundries are expected to account for the largest share of the spin-on carbon in the semiconductor market in 2023.

The foundries segment accounted for the largest share of the spin-on carbon in the semiconductor market in 2022, and a similar trend is expected to be witnessed during the forecast period. The demand for spin-on carbon in semiconductor foundries is driven by the critical role that spin-on carbon materials play in the fabrication of integrated circuits (ICs) and semiconductor devices. Spin-on carbon materials are essential to the creation of integrated circuits (ICs) and semiconductor devices; thereby, there is a significant demand for spin-on carbon in semiconductor foundries.

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The North American market is expected to witness the highest CAGR in the spin-on carbon in the semiconductor market during the forecast period.

North America is projected to record the highest CAGR during the forecast period. This region is a key market as it is home to some of the major industry players, such as Brewer Science, Inc. (US), JSR Micro, Inc. (US), and Nano-C (US). The US adopts and develops various semiconductor processes, such as lithography and advanced packaging. Moreover, the increasing initiatives by the US government in the semiconductor industry are driving market growth in the country. For instance, since the CHIPS Act was originally introduced in June 2020, semiconductor companies have announced dozens of projects to increase manufacturing capacity in the US and expand the domestic semiconductor value chain.

Key players

Key players in the spin on carbon market include Samsung SDI Co., Ltd. (South Korea), Merck KGaA (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), YCCHEM Co., Ltd. (South Korea), Brewer Science, Inc. (US), JSR Micro, Inc. (US), KOYJ Co., Ltd. (South Korea), Irresistible Materials Ltd (UK), Nano-C (US), and DNF Co., Ltd. (South Korea) among others.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

3D Printing Robot Industry worth USD 3.2 billion by 2028

 The report "3D Printing Robot Market by Component (Robot Arms, 3D Printing Heads, Software), Robot Type (Articulated Robots, Cartesian Robots, SCARA Robots, Polar Robots, Delta Robots), Application, End-user Industry and Region - Global Forecast to 2028" The 3D printing robot market is projected to grow from USD 1.6 billion in 2023 and is estimated to reach USD 3.2 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.6% from 2023 to 2028. The growth of the 3D printing robot market is driven by reliance on automated solutions to conduct repetitive tasks and improve workplace safety, and rising awareness about higher degree of freedom offered by 3D printing robots than traditional printers.

By component, the 3D printing Head segment is projected to grow at high CAGR of the 3D printing robot market during the forecast period.

The 3D printing head segment is positioned for robust growth over the forecast period. 3D printing heads, or extruders, present a host of valuable advantages in the realm of additive manufacturing. These heads boast versatility, capable of accommodating a broad spectrum of materials, from PLA (polylactic acid), PETG (polyethylene terephthalate glycol), TPU (thermoplastic polyurethane), and ABS (acrylonitrile butadiene styrene) to metals, enabling their application across diverse industries. Renowned for their precision, 3D printing heads can meticulously create objects in the X, Y, and Z axes, resulting in highly accurate prints with exceptional surface quality. Additionally, their ability to operate at high speeds contributes to shorter production times. Furthermore, these heads exhibit efficiency by judiciously utilizing filament material through controlled deposition. Their user-friendly nature, often arriving pre-calibrated, appeals to both novices and experts. This facilitates widespread adoption across industries, such as aerospace, automotive, and consumer goods, where their advantages are increasingly appreciated.

Functional Part Manufacturing segment is projected to grow at high CAGR of 3D printing robot market during the forecast period.

The functional part manufacturing segment is expected to grow at high CAGR in the 3D printing robot market during the forecast period. 3D printing, particularly in conjunction with robots, is revolutionizing functional part manufacturing across several key industries. In aerospace, automotive, and electronics, the demand for lightweight, durable, and precision-engineered components is met through 3D printing with robots. These robots enable the creation of intricate parts with complex geometries, surpassing the limitations of traditional manufacturing methods. The versatility of 3D printing robots, accommodating various materials, including plastics, metals, and ceramics, proves invaluable. As these robots continue to advance, they are poised to enhance functional part manufacturing in these industries, as well as in consumer goods, energy, construction, and more, promising a future of innovation and efficiency.

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Noth America is poised for significant growth in the 3D printing robot market by 2028.

The North American 3D printing market is poised for significant growth in the upcoming years due to various essential drivers. 3D printing robots offer solutions to key challenges in the North American construction sector. They reduce the demand for highly skilled workers, enhance safety by handling hazardous tasks, cut costs, boost productivity, and elevate project quality. While facing developmental hurdles, such as speed and material limitations, these robots hold substantial promise for revolutionizing the construction industry and making it more efficient and sustainable. For instance, in May 2022, Cornell University’s Bovay Lab (New York) integrated ABB’s 6,000-pound IRB 6650S Industrial Robot from Switzerland for large-scale 3D printing in construction. This innovation advances robotic construction research, providing students with practical experience and enhancing sustainability and efficiency in the field. The robot, with a 12-foot track, offers a 12-foot circular reach, covering an 8x30-foot area. It is a significant step in utilizing 3D printing robots for construction and enhancing the construction sector in North America.

Key Players

Key companies operating in the 3D printing robot market are KUKA AG (Germany), ABB (Switzerland), Yaskawa Electric Corporation (Japan), FANUC CORPORATION (Japan), Universal Robots A/S (Denmark), Massive Dimension (US), CRAD B.V. (Netherlands), Caracol (Italy), among others.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Building Automation System Industry worth USD 155.9 billion by 2028

 According to a research report "Building Automation System Market by Offering ( Facility Management Systems, Security & Access Controls, Fire Protection Systems), Communication Technology (Wireless Technolgies, Wired Technologies), Application, & Region-Global Forecast to 2028" The building automation system market is expected to reach USD 155.9 billion by 2028 from 88.4 billion in 2023, at a CAGR of 12.0% during the 2023- 2028 period.Many companies are investing in building automation system which gives an opportunity for growth in the buislidng automation system market. The building automation system market is in the development phase at present, with the presence of multiple players offering building automation system technology. Asia Pacific is likely to contribute significantly to the growth of the building automation system market. Similarly, the North America, Europe and RoW regions are expected to be the growing market for the forecasted period.

Wireless Technology hold the largest market share of communication technology of building automation system market during the forecast period.

The wireless technology segment will exhibit a higher compound annual growth rate (CAGR) than the wired technology segment. This growth can be attributed to the advantages offered by wireless technology, including enhanced mobility and cost savings in building automation systems. Additionally, wireless technology simplifies installation, especially in existing buildings, and provides reliable network connectivity through various security algorithms. It offers scalability, link reliability, real-time capabilities, and energy independence when used in conjunction with energy-harvesting devices, particularly in building management systems. Furthermore, wireless technology networks find wide-scale applications in healthcare, surveillance, agriculture, and industrial sectors. Notable wireless technologies used in building automation systems include ZigBee, EnOcean, Z-Wave, and Wi-Fi.

Building Energy Management Software to register the highest CAGR between 2023 and 2028 forecast.

The rising costs of energy and the introduction of stringent energy efficiency regulations have underscored the importance of monitoring energy consumption within buildings. Building energy management software plays a pivotal role in enabling building operators and homeowners to continually oversee and assess the energy usage in structures. These systems not only alert building operators and owners about deviations in energy consumption but also furnish actionable insights for achieving energy savings. Companies like Schneider Electric (France), Siemens AG (Germany), and International Business Machines Corporation (US) are among those offering building energy management software. Furthermore, with advancements in technology, manufacturers of building automation systems are placing emphasis on creating user-friendly software for efficiently managing energy consumption within buildings. This development is subsequently spurring global demand for building energy management software.

High emphasis on constructing energy efficient and ecofriendly buildings leads to increase in the building automation system market.

The building sector stands out as a significant global energy consumer, consistently accounting for over one-third of the world's total energy consumption. Additionally, it constitutes a substantial contributor to carbon dioxide (CO2) emissions. As noted by the International Energy Agency (IEA), in regions highly reliant on traditional biomass, energy consumption in buildings can represent an astonishing 80% of the entire regional energy use. The proliferation of electrical systems within buildings is further exacerbating energy consumption and carbon emissions. Consequently, the effective and sustainable utilization of energy resources is paramount.

 

In light of this imperative, there is a growing demand for building automation systems. These systems are gaining prominence due to their ability to reduce energy consumption and maintenance costs in buildings. Notably, building automation systems play a pivotal role in optimizing energy utilization, with a particular focus on HVAC and lighting control systems, known for their energy-intensive operations. According to IEA statistics, air heating, cooling, and water heating jointly constitute approximately 60% of global energy consumption within buildings, presenting a significant opportunity for energy reduction. Building automation systems offer the added benefit of automating HVAC and lighting systems, resulting in potential energy savings ranging from 5% to 30% of a building's overall energy consumption.

Moreover, building automation systems provide a proactive approach to building maintenance by enabling early detection of operational issues within equipment. This proactive approach not only prevents unexpected breakdowns but also contributes to reduced building maintenance costs.

Building automation system market for the Asia Pacific region to register the highest CAGR between 2023 and 2028 forecast.

The Asia Pacific building automation system market has been analyzed, focusing on China, Japan, India, South Korea, and the rest of the Asia Pacific region. During the forecast period, this market is expected to exhibit the highest Compound Annual Growth Rate (CAGR) in the region. The growth of the building automation system market in Asia Pacific can be attributed to the economic expansion in the area, coupled with a significant increase in construction and industrial activities observed in key Asian Pacific countries. Consumers in this region primarily aim to achieve energy and cost savings through the implementation of building automation systems. Notably, countries like China and India are increasingly embracing the development of smart cities, with building automation systems playing a pivotal role in helping them achieve their energy-saving goals.

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Key Players

The report profiles major players in the building automation system market Honeywell International Inc. (US), Siemens (Germany), Johnson Controls (US), Schneider Electric (France), Carrier (US), Robert Bosch GmbH (Germany), Legrand (France), Hubbell (US), ABB (Switzerland), Trane Technologies plc (Ireland), Lutron Electronics Co., Inc (US), Crestron Electronics, Inc. (US), Hitachi, Ltd. (Japan), Delta Controls (Canada), Beckhoff Automation (Germany),  Lennox International Inc. (US), Current Lighting Solutions, LLC. (US), ACUITY BRANDS, INC, (Canada), Dialight (UK), Cisco Systems, Inc. (US), Rockwell Automation (US), Snap One, LLC (US), Signify Holding (Netherlands), Emerson Electric Co. (US), Leviton Manufacturing Co., Inc. (US), Mitsubishi Electric Corporation (Japan), Huawei Technologies Co., Ltd. (China), Bajaj Electricals Ltd (India), and Beijer Electronics, Inc. (Sweden).

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