Artificial Intelligence
The Worldwide Motion Positioning Stages Industry is Expected to Reach $1+ Billion by 2027
Dublin, Nov. 02, 2020 (GLOBE NEWSWIRE) — The “Motion Positioning Stages Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Movement Type, Drive Type, Axis, Bearing Type, Load Capacity, and Application, and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market was valued at US $644.16 million in 2019 and is projected to reach US $1,035.50 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.
The increasing competition across industries drives the adoption of automation technologies such as industrial internet of things (IIoT), artificial intelligence (AI), machine learning (ML), and big data to increase productivity and reduce operational costs of companies. The trend of digitalization and process automation across industries is referred to Industry 4.0, and it is pushing businesses to adapt the changing technology landscape to sustain in today’s competitive industrial sector. Automation infrastructure has become a necessity in various business processes ranging from safety, process to motion control. Multi-axis controllers play crucial role in enabling the adoption of Industry 4.0 across several industries, including electronics, semiconductor, manufacturing, and food & beverages.
As per the market experts, the IIoT market in developing countries has the potential to grow multifold during the forecast period. China is the largest contributor to overall IIoT spending in the region. Japan, South Korea, South Africa, Brazil, Mexico, and India are also anticipated to offer ample growth opportunities for Industry 4.0. Factors such as increasing investments in the IT & telecom infrastructure and rising demand for high efficiency and less operational costs lead to the adoption of advanced motion positioning stages. The rising trend of automation and adoption of advanced technologies across various industries are anticipated to boost the demand for motion positioning stages globally.
The motion positioning stages market is segmented into movement type, drive type, axis, bearing type, load capacity, application, and geography. Based on movement type, the linear segment held the largest share of the global motion positioning stages market throughout the forecast period from 2020 to 2027. Based on drive type, the direct drive segment dominated the market in 2019. Based on axis, the single-axis segment held the substantial share in the motion positioning stages market. In terms of bearing type, the mechanical bearing segment is anticipated to dominate the market growth during the forecast period. By load capacity, the 0-20 kg segment will continue to dominate the motion positioning stages market during the forecast period. Based on application, the motion positioning stages market is dominated by automation application. Geographically, APAC held the largest share of the motion positioning stages market in 2019.
Impact of COVID-19 Pandemic on Motion Positioning Stages Market
According to the report by the World Health Organization (WHO), the US, India, Brazil, Russia, Peru, Columbia, South Africa, and Mexico are among the worst affected countries due to the COVID-19 outbreak. On September 8, 2020, there were ~27,486,900 confirmed COVID-19 cases with ~894,980 total deaths globally, and the number of COVID-19 patients is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries across the world and the global economy has witnessed worst hit in 2020 and is likely to continue in 2021. The pandemic has created significant disruptions in various industries, such as electronics & semiconductor, automotive, defense, medical devices, and manufacturing.
The crisis is anticipated to hinder the growth of various industries in APAC. For example, China is a global manufacturing hub and the most abundant raw material supplier for multiple industries worldwide; it was also among the worst affected COVID-19 countries in past few months. The lockdown of different plants and factories in China interrupted the global supply chains and negatively impacted manufacturing, delivery schedules, and multiple products sales and services. The ongoing COVID-19 crisis and critical situation in APAC will impact the growth of the motion positioning stages market negatively for the next few quarters.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global motion positioning stages market
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- The key findings and recommendations highlight crucial progressive industry trends in the global motion positioning stages market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Motion Positioning Stages Market – By Movement Type
1.3.2 Motion Positioning Stages Market – By Drive Type
1.3.3 Motion Positioning Stages Market – By Axis
1.3.4 Motion Positioning Stages Market – By Bearing Type
1.3.5 Motion Positioning Stages Market – By Load Capacity
1.3.6 Motion Positioning Stages Market – By Application
1.3.7 Motion Positioning Stages Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Motion Positioning Stages Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Motion Positioning Stages -Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Automation in Manufacturing Sector
5.1.2 Rising Demand for High Speed and Accuracy in Industrial Operations
5.2 Key Market Restraints
5.2.1 Recurring Maintenance Costs of Positioning Stages
5.3 Key Market Opportunities
5.3.1 Increasing Adoption of Industry 4.0 is Creating Lucrative Opportunities for Vendors
5.4 Future Trends
5.4.1 Advent of Miniaturization in Diversified Industries
5.5 Impact Analysis of Drivers and Restraints
6. Motion Positioning Stages Market – Global Analysis
6.1 Global Motion Positioning Stages Market Overview
6.2 Motion Positioning Stages Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Motion Positioning Stages Market Analysis – By Movement Type
7.1 Overview
7.2 Motion Positioning Stages Market Breakdown, by Movement Type, 2019 & 2027
7.3 Linear
7.3.1 Overview
7.3.2 Linear Market Revenue and Forecast to 2027 (US$ Million)
7.4 Rotary
7.4.1 Overview
7.4.2 Rotary Market Revenue and Forecast to 2027 (US$ Million)
7.5 Goniometer
7.5.1 Overview
7.5.2 Goniometer Market Revenue and Forecast to 2027 (US$ Million)
8. Motion Positioning Stages Market Analysis – By Drive Type
8.1 Overview
8.2 Motion Positioning Stages Market Breakdown, by Drive Type, 2019 & 2027
8.3 Screw
8.3.1 Overview
8.3.2 Screw Market Revenue and Forecast to 2027 (US$ Million)
8.4 Direct
8.4.1 Overview
8.4.2 Direct Market Revenue and Forecast to 2027 (US$ Million)
9. Motion Positioning Stages Market Analysis – By Axis
9.1 Overview
9.2 Motion Positioning Stages Market Breakdown, by Axis, 2019 & 2027
9.3 Single Axis
9.3.1 Overview
9.3.2 Single Axis Market Revenue and Forecast to 2027 (US$ Million)
9.4 Multi Axis
9.4.1 Overview
9.4.2 Multi Axis Market Revenue and Forecast to 2027 (US$ Million)
10. Motion Positioning Stages Market Analysis – By Bearing Type
10.1 Overview
10.2 Motion Positioning Stages Market Breakdown, by Bearing Type, 2019 & 2027
10.3 Air Bearing
10.3.1 Overview
10.3.2 Air Bearing Market Revenue and Forecast to 2027 (US$ Million)
10.4 Mechanical Bearing
10.4.1 Overview
10.4.2 Mechanical Bearing Market Revenue and Forecast to 2027 (US$ Million)
11. Motion Positioning Stages Market Analysis – By Load Capacity
11.1 Overview
11.2 Motion Positioning Stages Market Breakdown, by Load Capacity, 2019 & 2027
11.3 0-20 Kg
11.3.1 Overview
11.3.2 0-20 Kg Market Revenue and Forecast to 2027 (US$ Million)
11.4-50 Kg
11.4.1 Overview
11.4.2-50 Kg Market Revenue and Forecast to 2027 (US$ Million)
11.5-100 Kg
11.5.1 Overview
11.5.2-100 Kg Market Revenue and Forecast to 2027 (US$ Million)
11.6-140 Kg
11.6.1 Overview
11.6.2-140 Kg Market Revenue and Forecast to 2027 (US$ Million)
11.7 Above 140 Kg
11.7.1 Overview
11.7.2 Above 140 Kg Market Revenue and Forecast to 2027 (US$ Million)
12. Motion Positioning Stages Market Analysis – By Application
12.1 Overview
12.2 Motion Positioning Stages Market Breakdown, By Application, 2019 & 2027
12.3 Biotechnology
12.3.1 Overview
12.3.2 Biotechnology Market Revenue and Forecast to 2027 (US$ Million)
12.4 Laser Cutting
12.4.1 Overview
12.4.2 Laser Cutting Market Revenue and Forecast to 2027 (US$ Million)
12.5 Automation
12.5.1 Overview
12.5.2 Automation Market Revenue and Forecast to 2027 (US$ Million)
12.6 Industrial Handling
12.6.1 Overview
12.6.2 Industrial Handling Market Revenue and Forecast to 2027 (US$ Million)
12.7 Others
12.7.1 Overview
12.7.2 Others Market Revenue and Forecast to 2027 (US$ Million)
13. Motion Positioning Stages Market – Geographic Analysis
13.1 Overview
13.2 North America: Motion Positioning Stages Market
13.3 Europe: Motion Positioning Stages Market
13.4 APAC: Motion Positioning Stages Market
13.5 MEA: Motion Positioning Stages Market
13.6 SAM: Motion Positioning Stages Market
14. Motion Positioning Stages Market- COVID-19 Impact Analysis
14.1 Overview
14.2 North America
14.3 Europe
14.4 Asia-Pacific
14.5 MEA
14.6 South America
15. Industry Landscape
15.1 Overview
15.2 Market Initiative
15.3 Merger and Acquisition
15.4 New Development
16. Company Profiles
16.1 Aerotech Inc.
16.1.1 Key Facts
16.1.2 Business Description
16.1.3 Products and Services
16.1.4 Financial Overview
16.1.5 SWOT Analysis
16.1.6 Key Developments
16.2 Dover Motion
16.2.1 Key Facts
16.2.2 Business Description
16.2.3 Products and Services
16.2.4 Financial Overview
16.2.5 SWOT Analysis
16.2.6 Key Developments
16.3 Edmund Optics Inc
16.3.1 Key Facts
16.3.2 Business Description
16.3.3 Products and Services
16.3.4 Financial Overview
16.3.5 SWOT Analysis
16.3.6 Key Developments
16.4 MISUMI Corporation
16.4.1 Key Facts
16.4.2 Business Description
16.4.3 Products and Services
16.4.4 Financial Overview
16.4.5 SWOT Analysis
16.4.6 Key Developments
16.5 Newport Corporation
16.5.1 Key Facts
16.5.2 Business Description
16.5.3 Products and Services
16.5.4 Financial Overview
16.5.5 SWOT Analysis
16.5.6 Key Developments
16.6 Optimal Engineering Systems, Inc.
16.6.1 Key Facts
16.6.2 Business Description
16.6.3 Products and Services
16.6.4 Financial Overview
16.6.5 SWOT Analysis
16.6.6 Key Developments
16.7 OWIS GmbH
16.7.1 Key Facts
16.7.2 Business Description
16.7.3 Products and Services
16.7.4 Financial Overview
16.7.5 SWOT Analysis
16.7.6 Key Developments
16.8 Parker Hannifin Corporation
16.8.1 Key Facts
16.8.2 Business Description
16.8.3 Products and Services
16.8.4 Financial Overview
16.8.5 SWOT Analysis
16.8.6 Key Developments
16.9 Physik Instrumente (PI) GmbH & Co. KG.
16.9.1 Key Facts
16.9.2 Business Description
16.9.3 Products and Services
16.9.4 Financial Overview
16.9.5 SWOT Analysis
16.9.6 Key Developments
16.10 STANDA LTD
16.10.1 Key Facts
16.10.2 Business Description
16.10.3 Products and Services
16.10.4 Financial Overview
16.10.5 SWOT Analysis
16.10.6 Key Developments
17. Appendix
17.1 About the Publisher
17.2 Word Index
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Artificial Intelligence
ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations
New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.
Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases.
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.
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Artificial Intelligence
Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
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Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
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Get access to the latest updates on Computer Vision in Healthcare Companies and Computer Vision in Healthcare Market Size
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Artificial Intelligence
IoT Technology Market worth $1,377.8 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — The IoT technology market is projected to grow from USD 945.6 billion in 2024 to USD 1,377.8 billion by 2029, registering a CAGR of 7.8% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to increased potential for the incorporation of IoT in electric and hybrid vehicles and accelerated IoT adoption in the healthcare sector. Furthermore, the government incentives and aids for development of IoT technologies and rise in the development of smart cities are expected to create lucrative opportunities for the market.
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Browse in-depth TOC on “IoT Technology Market”
110 – Tables80 – Figures250 – Pages
IoT Technology Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 945.6 billion
Estimated Value by 2029
$ 1,377.8 billion
Growth Rate
Poised to grow at a CAGR of 7.8%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Node Component, Software Solution, Platform, Service, End-use Application, Geography
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High power consumption by wireless sensor terminals/connected devices
Key Market Opportunities
Increased potential for the incorporation of IoT in electric and hybrid vehicles
Key Market Drivers
Emergence of 5G communications technology
The network management IoT technology platform segment is expected to account for the largest share of the IoT technology market in 2024.
The network management segment is a significant market for IoT technology. A network management platform is a common platform to manage the entire network of an organization. The platform ensures that users are able to receive IT services from anywhere and at any time. By using the platform, a network administrator can easily detect any failure in the network and resolve issues in real time or inform support personnel. A network management platform also assists in analyzing the amount of data that is being transferred over a network and automatically routes them to avoid congestion that can result in a crash of the network. For critical application areas, such as mobility and transport, logistics, energy, and manufacturing, seamless and faster data transfer is required. This requires the appropriate configuration of network devices, which is possible only through a high level of visibility provided by a network management platform.
The industrial segment is expected to have highest CAGR in the forecast period.
The industrial segment is projected to record the highest CAGR during the forecast period. Healthcare, automotive & transportation, building automation, manufacturing, retail, BFSI, oil & gas, agriculture, and aerospace & military are among the industrial end-use applications. The building automation market has developed as a result of the demand for more energy-efficient solutions, more security, more venture capital funding, and ongoing efforts to improve lifestyle. After beginning with wired technology, building automation has transitioned into the era of wireless technologies like Bluetooth and ZigBee Wi-Fi. Additionally, more stringent regulations and growing awareness of energy saving and building regulations, the development of many smart grid technologies, and the accessibility of several open protocols are propelling the market for building automation.
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The Asia Pacific market is expected to witness the highest CAGR in the IoT technology market during the forecast period.
Asia Pacific is projected to record the highest CAGR during the forecast period. The main countries in Asia Pacific contributing to the growth of the loT technology industry are China, India, South Korea, and Japan. Some of the major factors supporting the expansion of the lot technology market in Asia Pacific are the expanding consumer base, rising disposable income, increasing internet penetration in both business and residential areas, and improving IT infrastructure. Furthermore, the market for IoT technology for commercial applications in countries like China, South Korea, and Japan is growing primarily due to the trend of industrial automation and the use of cloud-based services. Furthermore, China’s involvement in the adoption and development of lot is vital for the expansion of these businesses because it is the key hub for semiconductor production and manufacturing. China is a manufacturing hub and is the leading producer of manufactured goods such as textiles, electronic equipment, and agricultural products. In the production process, IoT is used to monitor the machinery, employees, and environmental conditions. The data can be further used to analyze, control, and prevent risks and avoid economic losses. End-to-end automation is a new concept gaining momentum in the current technology market in China.
Key players
Key players in the IoT technology companies include Intel Corporation (US), Qualcomm (US), Texas Instruments Incorporated (US), Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM (US), STMicroelectronics (Switzerland), Microsoft, PTC Inc. (US), and Amazon Web Services (US), and among others.
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IoT Chip Market Size, Share by Hardware (Processor, Connectivity IC, Sensor, Memory Device and Logic Device), Power Consumption, End-use Application (Wearable Devices, Consumer Electronics, Building Automation and Retail) and Region – Global Forecast to 2025
IoT Node and Gateway Market Size, Share & Industry Growth Analysis Report by Hardware (Processor, Connectivity IC, Sensor, Memory Device, and Logic Device), End-use Application (Industrial and Consumer), Geography Global Growth Driver and Industry Forecast to 2027
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography – Global forecast 2025
Internet of Robotic Things Market (IoRT) by Component (Sensor, Power, Control), Service (Professional, Managed), Platform (Device, Application, Network), Software (Analytics, Data, Security, Monitoring, Bandwidth), Application – Global Forecast to 2022
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