Asset Integrity Management Companies - SGS Société Générale de Surveillance SA (Switzerland) and Bureau Veritas (France)

 The global asset integrity management market is expected to be valued at USD 23.9 billion in 2024 and is projected to reach USD 31.5 billion by 2029; it is expected to grow at a CAGR of 5.7% from 2024 to 2029. Market participants have adeptly addressed rising asset integrity management demands in diverse industries, extending their global reach through strategic growth approaches like introducing new products/services, acquiring assets, forging partnerships, fostering collaborations, establishing alliances, and expanding their operations.

Key players operating in the asset integrity management market are SGS Société Générale de Surveillance SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), TechnipFMC plc (UK), Aker Solutions (Norway), Applus+ (Spain), DNV AS (Norway), John Wood Group PLC (UK), Oceaneering International, Inc. (US), Fluor Corporation (US), Baker Hughes Company (US), TÜV SÜD (Germany), ROSEN Swiss AG (Switzerland), LifeTech Engineering Ltd (UK), EM&I (Brazil), Metegrity Inc. (Canada), FORCE Technology (Norway), TWI Ltd. (UK), OES (UAE), Bell Energy (UK), ABS Group of Companies, Inc. (US), Velosi Asset Integrity Ltd (UAE), Axess Group (Norway), Element Materials Technology (UK), RINA (Italy), and Asset Integrity Engineering (UAE).

SGS Société Générale de Surveillance SA. (Switzerland)

SGS (Société Générale de Surveillance SA), headquartered in Geneva, Switzerland, is a leading global provider of inspection, verification, testing, certification services, and asset integrity management solutions. Established in 1878, SGS operates an extensive network of offices and laboratories worldwide, serving industries ranging from agriculture to automotive, chemicals to consumer goods, and beyond. With a focus on ensuring quality, safety, and sustainability, SGS enables businesses to comply with regulations, mitigate risks, and build stakeholder trust. SGS's expertise in asset integrity management ensures critical asset reliability, safety, and performance, contributing to the operational efficiency and longevity of infrastructure and industrial facilities worldwide. Through its commitment to innovation and integrity, SGS plays a vital role in facilitating international trade and advancing global sustainability efforts.

Bureau Veritas (France)

Bureau Veritas, headquartered in France, is a globally renowned leader in testing, inspection, and certification services. Established in 1828, Bureau Veritas operates across a wide spectrum of industries, including construction, oil and gas, maritime, aerospace, automotive, and more. With a vast network of offices and laboratories spanning over 140 countries, Bureau Veritas offers comprehensive solutions to ensure compliance with regulations, mitigate risks, and enhance product quality, safety, and sustainability, assets, and operations. In particular, Bureau Veritas is widely recognized for its expertise in asset integrity management. It provides tailored solutions to assess, monitor, and maintain the integrity of critical assets such as pipelines, refineries, offshore platforms, and industrial facilities. Leveraging advanced technologies and a wealth of industry experience, Bureau Veritas helps clients optimize asset performance, minimize downtime, and ensure operational excellence, thus contributing to the reliability and longevity of infrastructure worldwide.

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TechnipFMC plc (UK)

TechnipFMC plc, headquartered in London, United Kingdom, is a global leader in the energy industry, offering innovative solutions for oil and gas exploration, production, and processing. Formed through the merger of Technip and FMC Technologies in 2017, the company operates in over 48 countries. With a focus on engineering, procurement, construction, and project management, TechnipFMC excels in asset integrity management, providing advanced solutions to assess, monitor, and maintain critical assets such as subsea infrastructure, offshore platforms, pipelines, and refineries. Leveraging cutting-edge technologies and industry expertise, TechnipFMC helps clients optimize asset performance, enhance safety, and ensure regulatory compliance, contributing to the reliability and sustainability of energy operations worldwide.

John Wood Group PLC (UK)

John Wood Group PLC, headquartered in Aberdeen, United Kingdom, is a global leader in the energy industry's engineering, procurement, construction, and maintenance services. With operations in over 60 countries, Wood Group provides comprehensive solutions including asset integrity management. Their expertise ensures assessing, monitoring, and maintaining critical assets such as offshore platforms, pipelines, and industrial facilities, optimizing performance, minimizing downtime, and ensuring regulatory compliance for energy operations worldwide.

Fluor Corporation (US)

Fluor Corporation, based in Irving, Texas, USA, is a renowned global engineering, procurement, fabrication, construction, and maintenance company with a rich history spanning over a century. Founded in 1912, Fluor has evolved into a leader in providing innovative solutions across diverse industries, including energy, infrastructure, manufacturing, mining, and more. The company's comprehensive services encompass every stage of project development, from conceptual design to asset integrity management and ongoing operational support. Fluor's involvement in asset integrity management is particularly notable, as it leverages advanced technologies and industry expertise to assess, monitor, and maintain the integrity of critical assets such as refineries, petrochemical plants, pipelines, and offshore installations. Through its tailored solutions, Fluor helps clients optimize asset performance, enhance safety, and ensure regulatory compliance, contributing to the reliability and sustainability of energy and industrial operations worldwide.

Top Power Tools Companies - Stanley Black & Decker, Inc. (US) and Robert Bosch GmbH (Germany)

 

The global power tools market size is expected to grow from USD 39.5 billion in 2024 to USD 45.5 billion by 2029, at a CAGR of 2.9%. Power tools are mechanical devices powered by electricity, batteries, and compressed air. These tools are designed to perform specific tasks more efficiently and with less manual effort compared to traditional hand tools. Power tools are commonly used in construction, woodworking, metalworking, and other industrial applications. They include a wide range of devices such as drills, saws, sanders, grinders, nail guns, routers, and impact wrenches, among others.

Stanley Black & Decker, Inc. (US), Robert Bosch GmbH (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Makita Corporation (Japan), Hilti Corporation, (Liechtenstein), Andreas Stihl AG & Co. KG (STIHL) (Germany), Atlas Copco AB (Sweden), Apex Tool Group, LLC (US), Ingersoll Rand (US), Snap-on Incorporated (US), among others.

Stanley Black & Decker, Inc.

Stanley Black & Decker, Inc. is a leading global provider of hand tools, power equipment, outdoor products, and accessories. It also provides engineered fastening solutions and attachment tools tailored for infrastructure applications. The company operates through two major business segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment includes the Power Tools Group (PTG), Hand Tools, Accessories & Storage (HTAS), and Outdoor Power Equipment (Outdoor) businesses. The PTG business encompasses both professional and consumer product lines. Professional offerings consist of high-grade corded and cordless electric power tools and equipment, including drills, impact wrenches, drivers, grinders, saws, routers, and sanders, alongside pneumatic tools, and fasteners such as nail guns, nails, staplers, staples, and concrete/masonry anchors.

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Robert Bosch GmbH

Robert Bosch GmbH is a leading technology and engineering company. It operates through four business segments: Mobility Solutions, Industrial Technology, Consumer Goods, Energy and Building Technology. The company offers power tools through the Consumer Goods division, which also provides an extensive range of products such as outdoor power equipment, garden equipment, power-tool accessories, and measuring technology for both professional and DIY users. The company offers various type of power tools such as saws; drills, hammers drills & impact drivers; grinders and metalworking; hammers (rotary & demolition); planers, and others.

Mercury Analyzer Market by Type, Monitoring Type - Global Forecast to 2029

 

The global mercury analyzer market size is expected to grow from USD 310 million in 2024 to USD 426 million by 2029, at a CAGR of 6.6% during the forecast period. Growing regulations for environmental protection and active government engagement and regulatory entities to monitor environmental conditions significantly influence the market dynamics. In addition, increasing industrialization and urbanization in emerging economies, coupled with the emerging application of mercury analyzers in the research field, generate opportunities within the mercury analyzer market.

Cold vapor atomic fluorescence segment is expected to grow at the higher CAGR in the mercury analyzer market during the forecast period.

The Cold vapor atomic fluorescence segment is expected to grow at the higher CAGR in the mercury analyzer market during the forecast period, due to significant advancements in technology that have greatly improved cold vapor atomic fluorescence analyzers, making them more sensitive and precise. This improvement is particularly crucial for industries and regulatory bodies aiming to meet increasingly stringent environmental standards. Additionally, there is a growing concern about mercury contamination in various ecosystems and its harmful effects on human health. This concern is driving the demand for more sophisticated detection methods, leading to increased adoption of cold vapor atomic fluorescence analyzers.

The environmental monitoring segment is expected to grow at a higher CAGR in the mercury analyzer market during the forecast period.

The environmental monitoring segment is expected to grow at the higher CAGR in the mercury analyzer market during the forecast period. This surge is primarily due to the stringent environmental regulations globally are compelling industries to monitor and control mercury emissions more effectively. Additionally, increasing awareness about the harmful effects of mercury pollution on ecosystems and human health is prompting governments and organizations to invest in advanced monitoring technologies. Moreover, the expansion of industries such as power generation, mining, and chemical manufacturing, which are significant sources of mercury emissions, is fueling the adoption of mercury analyzers for continuous monitoring and compliance purposes.

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Asia Pacific is expected to grow at the higher CAGR in the mercury analyzer market during the forecast period.

Asia Pacific is expected to grow at the higher CAGR in the mercury analyzer market throughout the forecast period. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are leading to increased mercury emissions from various industrial processes, necessitating stringent monitoring measures. Moreover, growing concerns about environmental pollution and its impact on public health are prompting governments in the region to enforce stricter regulations regarding mercury emissions, thereby driving the adoption of mercury analyzers for compliance monitoring. Additionally, rising investments in infrastructure development, particularly in sectors such as power generation, mining, and manufacturing, are fueling the demand for mercury analyzers for environmental monitoring purposes.

HVAC System Market by Cooling, Ventilation - Global Forecast to 2029

 The global HVAC System Market size is expected to be valued at USD 281.7 billion in 2024 and is projected to reach USD 389.9 billion by 2029 and grow at a CAGR of 6.7% from 2024 to 2029.

The market is experiencing growth driven by an increasing demand for energy-efficient and sustainable buildings. This demand spans residential, commercial, and industrial properties, driven by the need for climate control and comfortable indoor air quality. Climate change is also intensifying the requirement for both cooling and heating systems.

Based on the cooling equipment type, VRF system to hold the highest market growth during the forecast period

Cooling systems are used to lower the temperature, enable proper air distribution, and control humidification in a space. Cooling systems are available in various forms, from portable to massive systems designed to cool the entire space. HVAC cooling equipment encompasses various systems designed to regulate indoor temperature and humidity. Variable refrigerant flow (VRF) systems fluctuate the refrigerant flow in indoor units based on the requirement. VRF systems are available as heat pump systems or heat recovery systems for applications requiring simultaneous heating and cooling. It provides wind-free cooling that powerfully and gently cools the ambient temperature of the room, primarily used in residential complexes and commercial spaces, fostering increased demand throughout the forecast period.

Based on heating equipment, Heat pumps to hold the highest market share during the forecast period

Heating equipment forms an integral part of HVAC systems. They are used to heat buildings to a particular temperature. Heat pumps accounted for the largest share of the HVAC system market in 2023. The equipment is gaining higher acceptance owing to its multiple capabilities. Many models feature cooling and space-heating capabilities, and a few can heat water. Furthermore, heat pumps have higher efficiency than many other cooling or space heating units, which is expected to increase their demand. The residential application led the market for heating equipment. The low operating cost and high operating capacity of heat pumps make them suitable and eco-friendly substitutes for conventional heating appliances in residential applications.

Based on Ventilation equipment, the air-handling unit to hold the highest market share during the forecast period

Ventilation equipment refers to mechanical devices used to maintain and improve air quality in an indoor environment by increasing the circulation and exchange of fresh air. Proper ventilation is important for maintaining a healthy indoor environment. Air-handling units held the largest size of the HVAC system market for ventilation equipment in 2023. The AHU reconditions and circulates the air as a part of a heating, ventilating, and air conditioning system. It is a portable and simple system requiring minimum air regulation space. The rising use of air-handling units in commercial buildings, hospitals, and universities is expected to fuel the growth of the market.

Based on Implementation type, the new construction building to hold the highest market share during the forecast period

HVAC system is installed in a building during construction. They can also be retrofitted. Retrofitting can be done to upgrade the existing HVAC systems making them more energy-efficient and providing additional functionality. Thus, implementing HVAC controls can be classified into new construction buildings and retrofit buildings. The new construction buildings segment will lead the global HVAC system market during the forecast period. The governments of various countries are making high investments in infrastructure development, such as expansion projects of hotels, retail stores, airports, and educational buildings. For example, the Energy Star program by the US government provides resources and recognition to organizations that implement energy-efficient practices, including installing energy-efficient HVAC systems.

Based on Service type, the Installation services to hold the highest market share during the forecast period

The HVAC industry offers a variety of services to ensure comfortable and healthy indoor environments in residential and commercial buildings. These services include installation, maintenance, and repair of heating, ventilation, and air conditioning systems. The installation services segment is expected to lead the global HVAC system market during the forecast period. As more buildings require efficient heating and cooling solutions, the need for professional installation services grows, driving market share. Additionally, complex regulations and the necessity for specialized expertise further solidify the demand for installation services, positioning them for substantial growth in the future.

Based on Application type, the Commercial segment to hold the highest market share during the forecast period

The HVAC system market based on application has been segmented into commercial, residential, and industrial. The commercial application has been divided into healthcare, education, government, office, airport, and retail. The commercial application segment is expected to hold the largest market share during the forecast period. The growth is attributed to the increasing adoption of HVAC systems in commercial buildings, growing demand for energy-efficient devices, and rising awareness regarding energy conservation in developing regions such as Asia Pacific and RoW. Moreover, increasing investments by governments in the construction of commercial spaces are also expected to propel the growth of the market for commercial applications.

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HVAC System Market in Asia Pacific to hold the highest market share during the forecast period

The HVAC system market has been segmented into four regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW). The market in China and India are expected to grow highly. This can be attributed to the expansion of the construction sector and the rising number of data centers in these countries. The Asia Pacific region is expected to lead the market, expanding at the highest CAGR during the forecast period. Increasing construction activities, rising population, per capita income, growing need for energy-efficient devices, and favorable energy efficiency incentives by the government are key factors driving the growth of the market in the region. Countries such as China, Japan, and India are propelling the development of the HVAC system market in the Asia Pacific. China held the largest size of the market in Asia Pacific in 2023. Rapid industrialization and urbanization have created the need for energy saving.

Data Center Containment Market by Containment Type - Global Forecast to 2029

 

The global data center containment market size is projected to reach from USD 2.1 billion in 2024 to USD 3.6 billion by 2029; it is expected to grow at a CAGR of 11.8% from 2024 to 2029. Market growth is driven by significant growth in containment solutions due to increasing data centers and modular containment solutions for scalable data centers. These trends increase the need for efficient data center containment solutions to optimize cooling, reduce energy consumption, and ensure IT equipment functions properly.

Aisle Containment type to account for the largest share of the data center containment market in 2023.

Aisle containment solutions are gaining traction in the market due to their cost-effectiveness, efficiency, and the growing preference among customers for greater control over supply air to match server airflow. Large enterprises, which are major consumers of data center containment solutions, are fueling demand for aisle containment systems as they invest significantly in data centers to support the increasing shift of data and information online. Corporations like Facebook, Microsoft, and Alphabet Inc. are among those making substantial investments in data center infrastructure. This trend is anticipated to persist, reinforcing the market dominance of aisle containment solutions.

Modular containment segment to dominate market during the forecast period.

The increasing need for energy-efficient and portable IT infrastructure is driving market growth. Prefabricated modular data centers, in particular, are in high demand due to their capacity to boost performance and streamline IT operations. These facilities excel in energy management, particularly in power and cooling, owing to their integrated aisle containment systems, which effectively separate hot and cold air streams.

Colocation data center type to register the highest share data center containment market during the forecast period.

Colocation data centers are seeing a surge in demand driven by the growth of hyperscale workloads and the need for efficient data storage solutions. As these facilities expand and host numerous racks, the need for data center containment solutions, such as aisle containment systems and airflow management techniques, rises. These solutions are crucial for optimizing cooling efficiency and reducing energy consumption.

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The North America region is projected to grow at the highest CAGR during the forecast period.

Increasing investments in digital infrastructure, coupled with the widespread adoption of cloud computing and resource-intensive content applications, along with market dominance and technological advancements, are primary drivers fueling the rising demand for data center containment solutions in North America. With the continuous growth of data and a heightened emphasis on sustainability, containment solutions are poised to become increasingly crucial in ensuring efficient and cost-effective data center operations. Innovations in data center monitoring tools enable real-time optimization of airflow and cooling within containment zones, thereby amplifying efficiency improvements.

Painting Robot Market by Mounting Type, Robot Type - Global Forecast to 2029

 The global painting robot market size is estimated to be USD 3.1 billion in 2024 and is projected to reach USD 5.8 billion by 2029, registering a CAGR of 13.1% during the forecast period.

The growth of market is driven by advancement of robotics technology; the push for higher efficiency and cost reduction in manufacturing; the trend towards Industry 4.0; the demand for consistent, high-quality finishes in industrial applications.

Floor Mounted Painting robot to hold the largest market share in the Mounting Type segment in the Painting Robot market during the forecast period.

Driving factor behind the demand for floor mounted painting robots is the need for flexibility and adaptability in manufacturing processes. These robots are capable of handling a wide range of painting tasks, from primer application to topcoat finishing, across diverse industries such as automotive, aerospace, furniture manufacturing, and industrial machinery production. As production lines become more agile and responsive to changing market demands, floor mounted painting robots provide the versatility needed to accommodate varying product specifications and production schedules.

Manufacturers are investing in research and development to enhance robot programming, control software, and paint application technologies. For example, advancements in electrostatic spraying and airless spraying techniques have enabled robots to achieve higher coating efficiency and minimize material waste. I Innovations in robotic transfer units and control systems have expanded the capabilities of floor mounted painting robots, allowing for seamless integration into existing manufacturing processes and increased automation levels.

Articulated Robots segment to hold the largest market share in the Robot Type  segment in the Painting Robot market during the forecast period.

Articulated robots have become indispensable in a wide array of industries, including automotive manufacturing, aerospace, and electronics. In the automotive sector, where precision and uniformity are paramount, articulated painting robots stand out as indispensable tools.

These robots are equipped with atomizing bells, advanced spray guns, and boast six-axis agility, allowing them to achieve supreme levels of accuracy and consistency in paint application. By ensuring consistent paint thickness and coverage, these robots help prevent issues such as corrosion, rust, and paint delamination, which can compromise the structural integrity and appearance of the vehicle over time.

From ensuring consistent coatings and intricate designs to enhancing durability and productivity, these robots are instrumental in achieving high-quality finishes that meet the stringent standards of the automotive industry. With the global automotive manufacturing sector experiencing significant growth, the demand for these robots is expected to rise sharply.

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Up to 10 kg segment to hold the largest market share in the Payload segment in the Painting Robot  market during the forecast period.

The electronics industry is a prime adopter of low payload painting robots.  These robots ensure consistent and high-quality paint application on delicate electronic components like circuit boards, mobile phone casings, and other intricate parts.

 

For instance, a robot with a 3 kg payload capacity can precisely paint a thin layer of solder mask on a circuit board, ensuring optimal electrical conductivity and component protection. Low payload robots are also finding increasing use in automotive parts painting, particularly for smaller components like wheels, bumpers, and spoilers.  These robots offer the necessary speed and precision for applying multiple coats of paint with consistent thickness and minimal overspray, even on complex shapes.

1,00 MM to 2,000 MM segment to hold the largest market share in the Reach segment in the Painting Robot market during the forecast period.

Robots with a reach of 1,000 mm to 2000 mm are designed to cover a moderate distance while maintaining precision and flexibility in their movements. These robots typically feature multiple joints or axes, allowing them to reach various points within their operational envelope. Articulated robots in this range are characterized by their ability to access medium-sized components or structures with ease.

These robots often employ sophisticated end-of-arm tooling, such as paint sprayers or applicators, to ensure accurate and uniform paint application. They may also be equipped with sensors and vision systems to detect surface irregularities and adjust painting parameters accordingly.

The 1,000 mm to 2,000 mm reach allows robots to handle tasks that require some level of human oversight or interaction. For instance, a robot with a reach of 1,700 mm could paint a car door on a production line while a worker can perform quality checks or apply delicate masking before painting.

Painting segment to hold the largest market share in the Function segment in the Painting Robot market during the forecast period.

Painting robots streamline production processes, minimize errors, and enhance productivity across industries ranging from automotive manufacturing to aerospace engineering. Waterborne paints are generally less toxic and produce fewer harmful fumes compared to solvent-based paints, creating safer working environments for operators, and reducing health risks associated with exposure to hazardous chemicals.

Unlike solvent-based paints, waterborne paints use water as a carrier for the pigment and resin, significantly reducing volatile organic compound (VOC) emissions and minimizing environmental impact. A study by the National Institute for Occupational Safety and Health (NIOSH) in the US found that long-term exposure to VOCs can lead to respiratory problems, headaches, and even neurological damage. In response, industries are increasingly turning to waterborne paints as a more environmentally sustainable alternative.

Atomizers segment in Paint  Applicator to hold the highest market share of the Painting Robot market during the forecast period

The adoption of innovative technologies like electrostatic atomization and electrostatic painting improves the precision and uniformity of paint application, resulting in higher-quality finishes. In March 2020, Toyota Motor Corporation (Japan) introduced a new airless paint atomizer that utilizes static electricity to achieve an unprecedented coating efficiency of over 95%, significantly surpassing conventional rates.

 

As automotive manufacturers and other industries seek to optimize their production processes and meet sustainability goals, they are increasingly turning to advanced paint atomization technologies, driving the demand for painting robots equipped with atomizers.

IoT Node and Gateway Market by Hardware, End-use Application - Global Forecast to 2029

 

The IoT Node and Gateway market was valued at USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029, registering a CAGR of 7.3% during the forecast period. The growth of market is driven by the emergence of 5G technology, the Rising use of wireless smart sensors and networks, the Provision of increased IP address space through IPv6, and the Increasing need for data centers.

The market for Connectivity IC segment to hold largest market share during the forecast period.

Connectivity IC accounts for major share in the IoT Node and Gateway market in the forecast period. Connectivity ICs are increasingly integrating sensor interfaces, allowing for simplified data acquisition and processing, which is particularly useful in IoT sensors and wearable devices for monitoring environmental conditions, health parameters, and activity tracking. In July 2023, Nordic Semiconductor introduced the nPM1300 PMIC, featuring two buck converters, two load switches/LDOs, and integrated battery charging, streamlining battery-operated applications. This IC reduces BoM by consolidating multiple discrete components into one chip. The nPM1300 PMIC serves as a connectivity IC, enhancing power management efficiency in various battery-operated applications such as wearable devices, IoT sensors, smart home devices, and portable electronics.  Its integration with Bluetooth Low Energy (BLE) and other wireless protocols enhances interoperability and connectivity options for IoT nodes and gateways, facilitating seamless communication and data exchange in IoT ecosystems.

Consumer electronics segment in end-use application held highest market share of the IoT Node and Gateway market during the forecast period.

The proliferation of smart televisions, smart home devices, and IoT gadgets indicates the growing trend towards smart consumer electronics. These devices leverage advanced technologies such as sensors, embedded systems, and actuators, to provide users with intelligent features such as voice recognition, biometric authentication, gesture control, and real-time data monitoring. Smart appliances, also known as intelligent appliances, have the ability to measure and control their energy usage and communicate the same to homeowners. These appliances can be linked to smart energy meters or home energy management systems which can further help to reduce electricity usage during off-peak hours. The evolution of a number of consumer appliances with improved internet connectivity and smartphones, leverage the market for IoT nodes and gateway in the consumer electronics.

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The IoT Node and Gateway market in North America is estimated to account for largest share during the forecast period.

North American cities are transforming into hubs of innovation with a focus on smart infrastructure. This push for smarter systems heavily relies on networks of IoT nodes and gateways, acting as the backbone for data collection, communication, and analysis. According to reviews.org data of September 2023, an average American owns eight smart devices and intends to purchase four new ones within the next year. Personal electronics like phones, computers, and wearables are currently the most popular, but standalone smart home devices such as smart video doorbells, cameras, and light bulbs are gaining traction, especially considering the 35.6% ownership of smart speakers.

Industrial IoT Market by Connectivity Technology, Deployment, Vertical and Region - Global Forecast to 2029

 The industrial IoT market is valued at USD 194.4 billion in 2024 and is projected to reach USD 286.3 billion by 2029; it is expected to grow at a CAGR of 8.1% from 2024 to 2029. Rise in demand for IoT-enabled digital transformation in businesses across verticals, and predictive maintenance of machinery create lucrative opportunities whereas lack of standardization in IoT protocols is a major restraint for the growth of the market.

The hardware segment accounts for the largest market share of the industrial IoT market during forecast period.

The hardware segment currently holds the largest market share and is expected to maintain its position during the forecast period. Industrial automation and sensor technology have been established for decades, resulting in a wide range of existing hardware solutions readily available for IIoT deployments. Diverse industrial applications require a variety of specialized hardware components such as sensors, processors, and connectivity ICs, contributing to a larger market size compared to software and platforms that cater to a broader range of functionalities.

Healthcare sector accounts for the largest market share of the industrial IoT market in North America during the forecast period.

The healthcare sector has the largest market share in the North American industrial IoT market. There are compelling reasons for significant industrial IoT adoption and growth in the healthcare sector in North America. An aging population is driving the demand for remote patient monitoring, telehealth solutions, and connected medical devices. Industrial IoT improves healthcare delivery by optimizing workflows, tracking equipment, and facilitating data-driven decision-making. Advancements in wearables, remote monitoring devices, and data analytics are creating new opportunities for industrial IoT in healthcare.

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Asia Pacific holds the largest market share in industrial IoT market during the forecast period

Asia Pacific is a global manufacturing hub; it is also emerging as an important hub for the metals & mining vertical. Infrastructural and industrial developments in emerging economies such as China, India, and Singapore are contributing to the development of the industrial IoT market in Asia Pacific. The region is expected to be the leading market for industrial IoT solutions during the forecast period. The market in North America is flourishing owing to various initiatives undertaken by governments of different countries and leading companies to encourage the development and adoption of industrial IoT.

Key Market Players

Huawei Technologies Co., Ltd. (China), Cisco Systems, Inc. (US), ABB (Switzerland), Siemens (Germany), Intel Corporation (US), General Electric (US), Emerson Electric Co. (US), SAP SE (Germany), Honeywell International Inc. (US), Rockwell Automation (US), among others, are some key players operating in the Industrial IoT companies.

Data Center Accelerator Market by Processor (GPU, CPU, ASIC, FPGA) - Global Forecast to 2029

The global data center accelerator market was valued at USD 109.9 billion in 2024 and is projected to reach USD 372.9 billion by 2029; it is expected to register a CAGR of 27.7% during the forecast period. The Growing demand for cloud-based services  and surging adoption of deep learning technology in big data analytics are attributed to the ever-increasing demand for data center accelerator system.

A data center accelerator is a hardware component that boosts the performance of specific tasks within a data center. Think of it like a turbocharger for your computer, but for data centers that handle massive amounts of information.

By application, enterprise inference segment is expected to grow with the highest CAGR from 2024 to 2029.

The enterprise inference segment is expected to record the highest CAGR of 45.8% during the forecast period. The growth of the segment can be attributed to the integration of AI and ML data processing capabilities, allowing enterprises to analyze large datasets more efficiently and accurately. The adoption of cloud computing also plays a crucial role by providing a scalable and flexible infrastructure for data storage and analysis. Additionally, advancements in big data analytics tools enable more sophisticated and nuanced interpretations of data.

By end-user, healthcare segment is expected to grow with the highest CAGR in 2029.

The healthcare segment is expected to exhibit the highest CAGR of 31.8% during the forecast. The exponential growth in healthcare data, driven by electronic health records (EHRs), medical imaging, genomic data, and wearable devices, necessitates advanced computational power for efficient processing and analysis.  Also, the rise of artificial intelligence (AI) and machine learning (ML) applications in healthcare, such as predictive analytics, personalized medicine, and diagnostic imaging, requires high-performance computing infrastructure to train complex models and deliver real-time insights.

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In 2029, North America is projected to hold the highest CAGR of the overall data center accelerator market.

In 2029, The data center accelerator market in Asia Pacific is expected to grow at the highest CAGR. The growing trend of cloud computing has radically increased the economic impact of data center investments made by leading service providers such as Amazon.com, Inc. (US), Meta Platforms, Inc. (US), Google LLC (US), and Microsoft Corporation (US). The competition for data center projects has increased dramatically in North America. North American enterprises and research institutions are at the forefront of AI and machine learning research and applications.

Key Market Players

NVIDIA Corporation (US), Advanced Micro Devices, Inc (US), Intel Corporation (US), Alphabet Inc. (US), Qualcomm Technology, Inc. (US), Micron Technology, Inc. (US), IBM Corporation (US), Marvell (US), Achronix Semiconductor Corporation (US), Dell Inc. (US) are some of the key players in the data center accelerator Companies.

Display Market by Display Technology, Panel Type (Fixed Panel, Flexible Panel) - Global Forecast to 2029

 The display market is expected to reach USD 173.7 billion by 2029 from USD 135.2 billion in 2024, at a CAGR of 5.1 % during the 2024-2029 period.

Aerospace and Defense is expected to grow at the highest CAGR during the forecast period.

Display technology became more important in the aerospace and defense industries due to the demand for advanced visualization systems in applications areas such as mission control centers, aircraft cockpits, and navigation systems. The need for high-resolution displays with features such as ruggedness, touchscreen interfaces, and night vision compatibility is driving the growth of the display market in this sector.

Focusing on developing reliable and robust displays that could withstand extreme conditions for instance Head up display (HUDs) are used to display vital flight information from pilot mental multiple flight function displays (MFDs) for pilot maps and flight plans. It provides various information, including engine performance data. Companies such as Spectra Aerospace and Defense provide advanced display systems for military aircraft; Collins Aerospace, a subsidiary of Raytheon Technologies, offers a range of cockpit display systems for commercial and military aircraft. Therefore, constant innovations and increasing investments in defense and aerospace verticals are driving the demand for new technologically advanced displays.

Asia Pacific region is projected to grow at the highest CAGR during the forecast period from 2024-2029.

Asia Pacific is a key producer and consumer of display panels. With the market for display devices advancing at an unprecedented pace and new technologies being rapidly adopted, Asia Pacific has emerged as an attractive market for manufacturers of smartphones, tablets, laptops, and televisions. Some of the major consumer electronics companies in the region are Samsung Electronics, LG Electronics, SONY, Sharp Corporation, and Panasonic, as well as display panel manufacturers like Samsung Display, LG DISPLAY CO., LTD., AUO Corporation, Japan Display Inc., and Sharp Corporation, are based in the region, with their manufacturing facilities spread across various countries.

The region's low labor costs have played a crucial role in attracting companies to establish their OLED and LCD panel manufacturing plants in the area. The consumer electronics, retail, BFSI, healthcare, transportation, and sports & entertainment industries are expected to contribute significantly to the growth of the display market in Asia Pacific. The rapid adoption of display devices in different sectors, particularly in China, India, and South Korea, is a key driver for market growth in the region.

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Key Market Players

The major players in the display companies with a significant global presence includes SAMSUNG DISPLAY (Republic of Korea), LG DISPLAY CO., LTD., (South Korea), Sharp Corporation (Japan), BOE Technology Group Co., Ltd. (China), Innolux Corporation (Taiwan), AUO Corporation (Taiwan), Sony Group Corporation (Japan), Qisda Corporation (Taiwan), TCL China Star Optoelectronics Technology Co.,Ltd. (China), LEYARD (China), E-Link Holdings Co., Ltd. (Taiwan), Tianma Microelectronics Co., Ltd. (China), Universal Display (US), TRULY INTERNATIONAL HOLDINGS LIMITED (Netherlands), Panasonic Holdings Corporation (Japan), HannStar (Taiwan), eMagin (US), Kopin Corporation (US), NORITAKE ITRON CORP. (Japan), Japan Display Inc. (Japan), JOLED Inc. (Japan), eLux, Inc. (US), Visionox Company (China), Winstar Display Co., Ltd. (Taiwan), and WiseChip Semiconductor Inc. (Taiwan).

Laser Technology Companies - Coherent (US) and Trumpf (Germany) are the Leading Manufacturers

 

The global laser technology market size is expected to grow from USD 16.7 billion in 2022 to USD 25.6 billion by 2027, at a CAGR of 8.9%. Growing preference for laser-based material processing techniques, increasing demand for laser technology in optical communication and healthcare vertical, and growing demand for laser systems for various industrial processes such as welding, scribing, engraving, welding, and cutting etc., are the key factors driving the laser technology market.

The major players in the laser technology market with a significant global presence are Coherent (US), Trumpf (Germany), Han’s Laser Technology Industry Group Co., Ltd (China), IPG Photonics (US) and Jenoptik AG (Germany). The market players have adopted various strategies, including the advancement of products, collaborative partnerships, contractual agreements, business expansions, and acquisitions, all aimed at fortifying their market standing. These comprehensive strategies, both organic and inorganic, have facilitated the global expansion of market players through the provision of sophisticated palletizers.

Coherent is a provider of industrial and fiber lasers solutions and deals in technologies such as diode-pumped solid-state laser, fiber laser, gas laser (CO, CO2, excimer, and Ion), optically pumped semiconductor laser (OPSL), semiconductor laser, and ultrafast laser. These laser technologies find applications in several end-user industries, including healthcare, scientific research, electronics, military & defense, and manufacturing. The key factors responsible for Coherent’s market leadership include a well-balanced product portfolio, strong international brand name, customer retention capabilities, and global presence. The company is focusing on growth through the acquisition of new technologies, enhancement of its technology portfolio, and diversification of products into new markets and regions. Coherent has presence in the Americas, Europe, the Middle East & Africa, and Asia Pacific. Some of its subsidiaries are Coherent GmbH (Germany), Coherent Ltd. (UK), Coherent Japan KK (Japan), Lambda Physik USA, Inc. (US), and Coherent Commercial Company Ltd. (China).

Trumpf has established itself as one of the leading players in the laser Technology market. The company—through more than 70 of its subsidiaries—has achieved global presence across Asia Pacific, North America, South America, and Europe; the company also has 17 production units in Europe. Some of its subsidiaries include KOZ Makina (Turkey), Ferdinand-Braun-Institut (Germany), Leibniz-Institut für Hochstfrequenztechnik (FBH) (Germany), TRUMPF Homberger s.r.l. (Italy), Trumpf GMBH Korea Co., Ltd. (South Korea), and PT TRUMPF Indonesia (Indonesia). The company is in the process of expanding its already broad laser Technology solutions portfolio. In 2022, it invested USD 525.7 million in R&D to support robust organic growth. Additionally, the company has been focusing on increasing its footprint across the globe. As a part of such initiatives, the company, in May 2018, invested ~USD 27 million in its Chinese subsidiary, JFY, and its Chinese division, TRUMPF China, to expand its production capacity. Earlier, in October 2017, the company opened a logistics center at its headquarters in Ditzingen, Germany, with a ~USD 53 million investment, to enable faster delivery of consumables and spare parts.

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Han’s Laser is a well-known company in the global laser Technology market. Han’s Laser is a laser equipment manufacturer and provides laser marking, laser welding, laser cutting, and laser cleaning machines for applications in IT, automotive, packaging, electronics & semiconductor, and energy & power verticals. Han’s Laser offers several types of laser marking, cutting, and welding machines based on fiber laser, CO2 laser, UV laser, and YAG laser. The company aims at strengthening its market presence by providing customized solutions and quality products that utilize resources optimally and minimize manufacturing costs. Supported by its recognized brand identity, Han’s Laser has strong presence operations in Asia, the Americas, the Middle East & Africa, and Europe, which has helped the company increase its revenue from 1,818 million in FY 2020 to 2,144 million in FY 2022. Its clientele includes companies such as Flextronics (US), Philips (Netherlands), Samsung (South Korea), and Siemens (Germany). Some of the company’s prominent subsidiaries are Control Laser Corporation (US), Han's CNC Science and Technology Co., Ltd. (China), Baublys Laser GmbH (Germany), and Nextec Technologies 2001 Ltd. (Israel).

IPG Photonics Corporation is a manufacturer of fiber lasers and amplifiers. Its offerings include lasers, laser systems, beam delivery solutions, medical solutions, telecom equipment, and components for the automotive, consumer electronics, telecommunications, aerospace, semiconductor, entertainment, heavy industry & transport, manufacturing, medical, and oil & gas verticals.

JENOPTIK AG offers laser technology products through the Advanced Photonics Solutions business segment. The product and solution portfolio of laser technologies includes high-power diode lasers, F-theta objective lenses and beam expanders, laser range finders, customized laser systems or complex laser machines that enhance processes in application environments such as laser-based therapy, materials processing, security, and more.

Hyperspectral Imaging Systems Companies - Leading Manufacturers

 

The global hyperspectral imaging systems market is expected to be valued at USD 847 million in 2024 and is projected to reach USD 1,535 million by 2029 and grow at a CAGR of 12.6% from 2024 to 2029. Market participants have diversified their offerings, extending their global reach through strategic growth approaches like introducing new products and collaborations, establishing alliances, forging partnerships, and expanding their operations.

Key players operating in the hyperspectral imaging systems market are Corning Incorporated (US), SPECIM, SPECTRAL IMAGING LTD.  (Finland), Malvern Panalytical Ltd (UK), HORIBA (Japan),  Resonon Inc. (US), Norsk Elektro Optikk (Norway), Telops Inc. (Norway), Headwall Photonics (US), Bayspec, INC. (US), Cubert GmbH (Germany), among others.

SPECIM, SPECTRAL IMAGING LTD. (Finland)

SPECIM SPECTRAL IMAGING LTD., based in Finland, is a prominent player in the hyperspectral imaging systems market. They specialize in designing and distributing cutting-edge hyperspectral cameras and systems tailored for various industries. With a diverse product portfolio, including solutions for agriculture, food processing, environmental monitoring, and research, Specim is renowned for its advanced technology and innovation in spectral imaging.

Corning Incorporated (US)sss

Corning Incorporated provides hyperspectral imaging systems, offering solutions for various applications. With a diverse portfolio, Corning specializes in advanced optical technologies tailored to healthcare, agriculture, and environmental monitoring industries. The company's collaborations with other players in the market have strengthened its position, making Corning highly preferred for high-performance hyperspectral imaging systems.

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HORIBA (Japan)

HORIBA is a Japanese company that specializes in providing advanced hyperspectral imaging systems. HORIBA is one of the world's top analytical and life sciences instrumentation companies. Horiba's solutions cater to diverse applications, including environmental monitoring, agricultural analysis, and medical diagnostics. With a rich portfolio from extensive research and development, Horiba is at the forefront of delivering cutting-edge technology in the hyperspectral imaging market.