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Unmanned Combat Aerial Vehicle (UCAV)Market - Industry Outlook, Size,Share, Growth Prospects, Key Opportunities, Trends and Forecasts, 2018-2026

Unmanned combat aerial vehicle (UCAV), also called as combat drones are used as missiles and other ordnance carriers that do not require the onboard human pilots for the control and operation of the drones. These are featured with remote, real time controlling from distant locations with varying levels of autonomy. Drones were primarily utilized for the patrolling and reconnaissance, however, with the growing requirement and the increased risks involved in the operations, these UAVs were armed and converted for the combat missions.

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Increased life threats in the low success rated missions, UCAVs are expected to find significant applications through the forecast period

These find significant applications for surveillance, artillery fire direction, gathering electronic intelligence (ELINT) data, lasing targets for fighter planes, and post-strike damage assessment. These critical missions have high risks associated with the human lives. Moreover, defense forces find these missions to be significantly important, are however, reluctant to face the loss of human lives. Moreover, utilization of these unmanned combat aerial vehicle also reduces the requirement of additional equipment required for the human pilots such as the cockpit space, ejection seat, flight controls, armor, and environmental controls for oxygen and pressure. This is expected to be the prominent factor driving the demand of these armed UAVs.

Discrete Capacitors Market Taxonomy

On the basis of UCAV types, the global discrete capacitors market is classified into:

  • Medium-altitude UCAVs
  • High-altitude UCAVs
  • Others

Requirement to establish military supremacy, sustain upper hand in the territorial disputed nations, and counter the extremist terrorist activities will drive the UCAV market

Large number of territorial disputes existing between the nations that specifically include the Asia Pacific and the MEA region are expected to fuel the overall demands for development and manufacture. Some of the chief countries involved in territorial disputes that utilize these drones for various operations include China, India, Iran, Israel, North Korea, Pakistan, Taiwan, and Turkey. Some of the major economies that utilize these operational armed drones include Egypt, France, Germany, Italy, Mexico, the Netherlands, UK and the U.S. These countries are increasingly focusing on the development of these UAVs for domestic warfare and counter-insurgency, which are extensively used to monitor disputed areas and enhance the country security at a lower cost. The changing nature of next generation warfare will propel the global unmanned combat aerial vehicle market over the coming years.

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Incorporation of artificial intelligence in these drones and development of long range spy combat drones are few key market trends gaining global market traction

In July 2017, U.S. Navy sent out proposals to four defense contractors to the General Atomics, Boeing, Lockheed Martin, and Northrop Grumman for modulated reconnaissance requirement while enhancing the proposed unmanned aircraft’s aerial tanking duties. UCAVs with long-ranged striking capabilities are incorporated with Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems into airborne platforms, which are capable of deploying precision-guided munitions, bombs, and missiles. These factors are expected to drive the demands through the forecast period.

Medium-altitude UCAVs was the largest revenue contributor in 2016, is expected to remain the largest revenue contributor over the next few yearsIn conjunction with the growing requirement for multi-purpose drones, the defense agencies are increasingly emphasizing on the medium-altitude UCAVs development owing to better striking and surveillance capabilities, difficult detection, and high combat sustainability. Moreover, owing to these factors these are expected to dominate the industry through the forecast period.

U.S. is expected to continue its dominance through 2025, primarily owing to the largest defense budget, increased focus on minimal troop casualties, minimize the financial wastage, and increased focus on the development of advanced airborne systems. Moreover the country is also featured with the presence of few major industry participants that include General Atomics, Boeing, Lockheed Martin, and Northrop Grumman among many others.

Industry presence is highly fragmented owing to distributed presence of the major industry participants. Key players in the UCAV market include BAE Systems, General Atomics Aeronautical Systems, Boeing, Northrop Grumman, Israel Aerospace Industries, Denel Dynamics, Dassault Aviation, Lockheed Martin, and Elbit Systems.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Retail Analytics Market Segmentation, Opportunities, Trends & Future Scope to 2025

Retail analytics is the process of providing analytical data for supply chain management, merchandise intelligence, inventory management, cyber security, supply & demand processing, customer engagement, sales data modelling, and others. It helps in the process of decision-making, as it provides customer insights and scope for product marketing.

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Increasing adoption of new technologies is one of the major factors driving growth of the market

Rising adoption of new technologies such as big data, internet of things (IoT), and real-time analytics by various organizations to enhance business outcomes is driving growth of the retail analytics market. According to Coherent Market Insights’ analysis, around 70% of the retail industries are expected to adopt IoT by 2021. Retail analytics collects data from big data, machine learning, and artificial intelligence and business process, thereby delivering accurate information to solve business issues. Retail analytics provides customer insights from the real data, which helps the retailers to understand customer behavior and develop a customer centric product. This helps the organization to strengthen its foothold in the market, thereby fueling growth of the retail analytics market.

Rising number of unstructured data is a major factor driving growth of retail analytics market.

Rising number of unstructured data is driving growth of the retail analytics market, owing to the increasing number of organizations and rising demand for structured data. For instance, according to the International Data Group, unstructured data is growing at the rate of around 62 percent per year and around 93 percent of all data is expected to be unstructured by 2022. Unstructured data helps in understanding the market trend, customer demand, product description, and others. The rapid growth of unstructured data volume generated by various organizations have raised the trend of analytical tools, which helps in extracting insights from real data, thereby driving growth of the retail analytics market.

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High cost of analytical tools is one of the major factors hampering growth of the market

The high cost of analytical tools is one of the major factors restraining growth of the market. Moreover, lack of unskilled workforce is also expected to hamper growth of the market over the forecast period.

Global Retail Analytics Market: Regional Insights

North America is expected to hold a dominant position in the market over the forecasted period, owing to rising e-commerce sector. For instance, according to the U.S. Commerce Department analysis, in 2016, the sales from e-commerce was 41.6% and it increased up to 49.4% in 2017. Digitalization, rising disposable income, and rising adoption of IOT are some of the factors responsible for increasing the sales of the e-commerce sector. Therefore, increasing sales of e-commerce will lead to increasing demand for analytical tools, which will boost growth of the retail analytics market in the region.

Global Retail Analytics Market: Competitive Landscape

The key players operating in the global retail analytics market include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Adobe Systems Incorporated, SAS Institute Inc., HCL Technologies Ltd., Cisco Systems Inc., MicroStrategy, Inc., and Tableau Software, Inc. The major players of the market such as IBM Corporation, Microsoft, and Oracle Corporation are adopting strategies such as mergers and acquisitions for product development, in order to retain the position in the market. For instance, in December 2014, Oracle Corporation introduced the Oracle Retail Merchandising Analytics 14.1 version, which helps the retailers to improve their business performance by leveraging the real data collected from the consumers.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

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Coherent Market Insights
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Global Hashgraph Market to Showcase Attractive Growth Opportunities Worldwide

Hashgraph is an advanced type of distributed ledger technology developed by Swirlds, a US-based company. The key features of hashgraph algorithm includes fast, secure and fairness of access. Hashgraph is a data structure and distributed algorithm that reduces the requirement of major computation power and massive energy consumption. Moreover, hashgraph is expected to eliminate Ripple in banking and finance application. It can carry out functions faster than blockchain, and takes only a second for hundreds of thousands of transactions. These factors are expected to provide major growth opportunity to decentralized applications including games, stock market, and auctions.

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Most applications that require thousands of transactions per second require community agreement on the order of transactions in near real time. For example, Google Apps for Work includes docs, sheets, and slides that can be offered without requiring users to trust Google, or a distributed eBay that does not require a server to enforce the auction rules, to improve system security. This feature is attributed to fuel the growth opportunity of global hashgraph market.

The main objective of hashgraph is to generate trust among user by providing advanced security solutions for online transactions. The hashgraph algorithm achieves this by virtue of its features such as being fast, fair, providing Asynchronous Byzantine Fault Tolerance (aBFT), efficient, ACID compliant, inexpensive, DoS resistant, time stamped, and optionally non-permissioned. These features are attributed to broader range of applications of hashgraph, which includes distributed capital markets, distributed auctions, cryptocurrency with native micropayments, improved collaboration apps, and distributed gaming.

Comparison between hashgraph and blockchain

In both blockchain and hashgraph algorithm, one thing is common that is transaction can be generated by any user and the data will eventually be stored into a block or register and then spread through the users. In blockchain technology, these blocks are used to form a long single chain. Therefore, if two blocks are created at the same time then one will be selected, while the other is rejected. In hashgraph, each and every block is used, which makes it more just. Hence, all data or information stored in all branches will exist forever and all branches will back together to make a single chain.

Also, when various blocks come in rapidly together, the blockchain may fail to work due to faster development of branches. For this reason some mechanism is required to slow down the operating speed of blockchain. Where hashgraph is not affected by rapid growth. There is no restriction on transaction, as anyone can make block of transaction at any time they want. Hence, its function is very simple and has faster processing rate. Hashgraph consists of Byzantine agreement and fairness, which makes it simple. Byzantine is not present in blockchain and the technology rejecting blocks is considered to be unfair.

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In the hashgraph technology, no data of order of transactions can be manipulated by any individual. Moreover, no individual can stop a transaction from entering the system, also the process cannot be delayed.  Conversely, in blockchain technology, there is a chance of delay by one or two mining periods, when many branches are refused to be included in blockchain.

Furthermore, no hacker is able to stop a member to record a transaction hashgraph, attackers cannot stop a member from recording a transaction other than for resorting to blocking their internet access.

The hashgraph is Byzantine. It provides advanced security for the prevention of cyber-attacks, due to this no individual can change the data stored in block once they reached to the register.

The hashgraph market is expected to be segmented on the basis of geography in North America, Europe, Asia Pacific, Latin America, and Middle East and Africa regions. The market in North America is expected to be dominant in the global market. Hashgraph technology is soon be accepted by a major part of local US finance industry as a security solution. Hashgraph platform enables the connection of the power of peer-to-peer decision-making and record keeping in cryptocurrency and finance by public applications such as Bitcoin and Ethereum, and in private banking networks such as IBM Hyperledger.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
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#3200 
Seattle, WA 98154
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Email: sales@coherentmarketinsights.com

 

Smart Sensors Market, 2018-2026 – Industry Survey, Market Size, Competitive Trends: Coherent Market Insights

A smart sensor is a device that takes input from the physical environment and uses built-in compute resources to perform predefined functions upon detection of specific input and then process data before passing it on. Smart sensors are used for digital processing i.e. it converts the analog signal to digital. Thus, it can be used across verticals such as consumer electronics, automotive, industrial, medical, security & defence, and entertainment.

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Increasing sales of electric vehicle plays a major role in growth of the smart sensors market

Increasing sales of electric vehicle is one of major factors for increasing demand of smart sensors. For instance, according to Coherent Market Insights’ analysis, around 962 thousand units of electric cars have been sold, globally in 2017 up from 695 thousand units in 2016. This increasing sale of electric cars has led to increasing demand for sensors in order to charge the vehicles and for other factors. Therefore, increasing demand for electric vehicle is positively aiding in growth of the market. 

MEMS segment is expected to exhibit highest growth during the forecasted period

MEMS segment is expected to exhibit the highest CAGR during the forecasted period. This is owing to increasing usage of IoT and rise in usage of wearable devices such as smart watches. For instance, according to the Coherent Market Insights’ analysis, the sales of smart watches in 2016 was 0.038 billion and it has witnessed an increase of 0.075 billion in 2017.  Smart watches consists of small size sensors, which in turn help in increasing demand of MEMS technology for application in these smart watches .Therefore, with increasing sales of smart watches is expected to help in fuelling demand for MEMS technology during the forecasted period. Moreover, increasing inclination towards smart home will provide another factor for propelling the demand of the MEMS technology during the forecasted period

Rising concerns over data privacy is expected to be a major restraining factor for growth of the market

Low consumer awareness regarding smart systems and increasing safety concerns of security of the data is a major restraint for growth of smart sensors market. For instance, according to Coherent Market Insights’ analysis, number of data breaches in 2015 was 781 million and it reached up to 1,095 million in 2016. The rate of generation of data is very high and the rate of data analysis is not as quick as required. As a result, the life of a new algorithm or platform is short and it gets obsolete quickly thus, leading to failure of system to handle the heavy traffic of data generated from smart sensors. This hampers the efficiency of entire system and is a major cause of concern for many companies as it results in loss of revenue. This is a major problem and is expected to be a factor negatively impacting growth of the market.

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Global Smart Sensors Market: Regional Insights

On the basis of regions, the global smart sensors market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share in the global smart sensors market in 2016. The U.S. is the major growth engine in North America. This is owing to increasing initiatives from the U.S. government towards improvement of transportation facilities and implementation of intelligent transportation systems (ITS). For instance, the America's Surface Transportation Act or 'FAST Act' was passed in 2015, in order to solve congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions. Thus, increasing government support for improving transportation facilities has led to increasing demand for electric vehicles. Electric vehicles are incorporated with sensors for performing various functions. Therefore, as the sales of electric vehicle increases, it will lead to increasing demand for sensors. Hence, this factor helps in propelling growth of the sensors in this particular regions

Asia Pacific market is expected to exhibit highest CAGR over the forecast period and this is due to increasing deployment of smart city and smart infrastructure projects in this region. China, Japan, India, and South Korea are the major growth engines in the region. For instance, in 2015, Government of India launched '100 Smart Cities Mission', which will require smart sensors for various applications such as roads, vehicles, and others.

Global Smart Sensors Market: Competitive Landscape

Key players operating in the global smart sensors market are Rockwell Automation, Inc., ABB Group Ltd., Electric Company, NXP Semiconductor N.V., Honeywell International Inc., Eaton Corporation PLC, Renesas Electronics Corporation, Texas Instruments, Inc., Yokogawa Electric Corporation, and Omron Corporation. Players in the smart sensors market such as ABB Group’s Ltd., Honeywell International, and Texas Instruments, Inc. are focusing on product development strategy, in order to strengthen their foothold in the market. For instance, in March 2017, ABB launched the Ability Smart Sensor for motors, in order to identify inefficiencies within the system, reduce risks related to operation and maintenance, and others. These sensors help the plant operators to do effective maintenance planning for their motors, asses the efficiency of their operation and prevent costly downtimes.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

 

Cryptocurrency Market Share – Global Industry Size Report 2026

The “Global Cryptocurrency Market, By Industry Components (Exchanges, Wallets, Payments, Mining), By Verticals (BFSI, Retail, Media & Entertainment, Gaming industry, Healthcare, Travel & Tourism, Transportation & Logistics, Education), and By Geography (U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Australia, South Korea, ASEAN countries, GCC, Israel, South Africa) – Global Forecast to 2025” is estimated to be valued at US$ 189.9 billion in 2017 and expected to witness a CAGR of 56.2% over the forecast period (2017–2025), as highlighted in a report published by Coherent Market Insights.

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Cryptocurrency refers to the digital currency or asset that utilizes the principles of cryptography to ensure the security, privacy, and anonymity (in most cases) of the user. Coupled with its ease of availability, increasing adoption and decentralized control (not coined or regulated by single central authority), these form of electronic currencies are expected to witness exponential growth over the forecast period.

Most common element of these hundreds of different digital currency systems is the public ledger that is shared among the network participants and the utilization of tokens to incentivize the participants that operate the network in the absence of centralized control. Majority of the digital currencies are clones of bitcoins that feature distinct parameters such as the block time, currency creation. Moreover, limited supply of these digital assets in conjunction with the enhanced security owing to utilization of blokchain technology is expected to be the major factor driving the growth of cryptocurrency market.

Owing to the capability of the digital transactions of providing transaction anonymity, in order to facilitate privacy, has led to increase in the utilization of these form of currencies for criminal activities. Moreover, an academic study conducted at the University of Florida, has referred the digital assets as a potential means to evade the regional taxations and support illegal transactions, as these transactions are out of the reach of the regulators and the government. Impact of these immoral activities on the prices of the digital currencies is not determined, however this may lead to substantial impact on the cryptocurrency market in the near future.

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Key Takeaways of the Cryptocurrency Market:

  • The global cryptocurrency market is projected to witness a CAGR of 56.2% over the forecast period, primarily owing to its distributed control and high level of security offered by the digital assets.
  • Ability of these to support smart contracts, with the significant potential to the evolution of economic decentralization, with the limited supply or creation of these over fixed time period will provide strong growth prospects during the forecast period
  • Growing adoption of these currencies for transactions and development of regulations in countries such as Finland, France, Germany, Japan, South Korea, Jordan, Lebanon, Luxembourg, Spain, Sweden, Switzerland, Canada, and Mexico is expected to drive the payment and wallets segment over the forecast period
  • Among vertical segment, retail industry is expected to be the most prominent segment to witness highest adoption. Growth of multi-retailing choices, specifically the large business chains and the e-commerce industry are some of the major factors expected to drive the cryptocurrency market growth
  • In 2017, over 800 Bitcoin ATMs have been deployed in the U.S. alone, to improve the ease of access to the general population. Owing to considerable increase in the utilization of cryptocurrencies over the past few years, North America is expected to hold substantial industry share in the near future.
  • Some of the major technology vendors operating in the cryptocurrency market include Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

 

Digitally Delivered Services Market Outlook Till, 2018-2026 : Coherent Market Insights

Digitally delivered services is an electronic way of delivering information, which includes data and content delivery across various platforms or devices such as web or mobile. These services help in quickly sending the information to the users within the less time which in turn help in improving customer response. Increasing usage of internet and associated services is increasing substantially which is leading to demand for high Quality of Service (QOS), which are efficient in terms of saving time and money. Therefore, utilization of these services by enterprises for improving customer services by digitally managing transactional information is expected to be another factor propelling growth of the market.

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Increasing usage of internet services along with adoption of new technologies are driving factors for growth of the market

Growing adoption of 3G and 4G long-term evolution (LTE) wireless networks are responsible for increasing number of internet users. Thus, growing number of internet users will proportionally increase the IP data traffic. For instance, according to Coherent Market Insights, in 2016, 96,054 PB IP data traffic was generated per month and is projected to reach 278,108 PB IP data traffic by 2021, globally. Thus the demand of digitally delivered services will grow along with the increasing adoption of advance technologies by the users. As these services improves the quality of service for the end users those who are utilizing the internet related services in their routines. Moreover, the demand of digitally delivered services also increase because it provide a secure and flexible platform for the online communication. Therefore, increase in usage of internet services will be one of the factor that help fuelling the growth of the global digitally delivered services market.

Growing e-commerce industry is expected to aid in growth of the market

Growing e-commerce industry is expected to aid in growth of the digitally delivered services market. For example, according to India Brand Equity Foundation Organization, in 2016, e-commerce industry in India, generated revenue of US$ 15 billion and is projected to reach US$ 188 billion by 2025. Digitally delivered services offers dynamic content to the users, which helps e-commerce companies to strength their footprint in the market by catering to end-users from across the globe that help in maximising sales and also improve the ROI. Therefore, digitally delivered service will provide a growth opportunity for the e-commerce companies.

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Lack of Skilled Labour is Expected to Negatively Impact Market Growth

A leading factor impeding growth of the digitally delivered services market is availability of lack of skilled labour. These services require critical management and monitoring over the networks, while implementation. Therefore, digitally delivered services required the work force that have the knowledge about advanced technologies that will help them to incorporate these technologies with their business process. Hence, the lack of skilled labour will negatively impact on growth of the market.

Digitally Delivered Services Market: Regional Insights

On the basis of geography, the digitally delivered services market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. North America held a dominant position in the global digitally delivered services market in 2017 and is expected to retain its dominance throughout the forecast period. This is due to growing number of cloud computing users, digitization of workspaces, continuous increase in broadband connections, increasing smartphone users, rising demand for remote solutions, growth in collaborative communication, favourable government initiatives to develop digital infrastructure, emergence of IoT are some of the factors that help in boosting growth of the digitally delivered services market in the region. For instance, According to Cisco, in 2016, the North America cloud traffic was 1,891EB and it is projected to reach 6,844 EB by 2021.This growth is expected to witness an increase due to growing number of cloud computing users.

Asia Pacific is projected to exhibit the highest CAGR over the forecast period. Increasing number of mobile phone users drives significant growth of the digitally delivered services market in Asia Pacific. According to data by Cisco, around 2,500 million mobile phone users were present in Asia Pacific, in 2016, and this number is projected to reach 3,000 million by 2021. Thus, digitally delivered services market in this particular region is expected to experience rapid growth. Moreover, India, China, and Japan are some of the major growth engines in the market in Asia Pacific. In India, growing e-commerce industry significantly contributes to growth of this market. According to India Brand Equity Foundation, in 2016, India e-commerce industry generated revenue of US$ 15 billion and is projected to reach US$ 64 billion by 2020. These are expected to fuel growth of the market for digitally delivered services in the region.

Digitally delivered Services: Competitive Background

Major players operating in the global digitally delivered services market are IMImobile, Mahindra ComViva, Tech Mahindra, 6d technologies, Infosys, Happiest Minds, Spice Digital Ltd, Analysys Mason, Neudesic, and Acrus Global Ltd.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

Airport Charging Stations Industry New Tech Developments and Advancements to Watch Out for 2025!!

An airport charging station is used for charging batteries of the portable devices such as mobile phone, computer, cameras, and many more. Low battery life of portable devices is one of the major driving factors for growth of the market. Increasing usage of internet for running apps on mobile devices, performing various business-related activities such as emails, calls, sharing of data over the portable, which require long battery life. This charging station allows user to charge their devices, in order to avoid interruption while performing any activities on it. Thus, placing charging station in the airport will help user to solve the problem of low battery, which in turn helps in propelling growth of the market.

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Increasing demand for new airport construction and modernization of the existing airport are factors driving growth of the market

Increasing air passenger traffic is expected to be one of the major factors leading to high demand for new airport construction. For instance, according to the IATA (International Air Transport Administration) analysis, the air passenger traffic has increased by 7.6% in 2017 as compare to 2016, globally. Therefore, increasing air passenger traffic will positively affect demand for new airport construction, in order to meet this high air passenger traffic. Additionally, government initiative for modernizing the existing airport, which in turn is expected to lead to growth of the airport charging stations market during the forecast period. Increasing international air passenger traffic has forced government agencies around the world to make substantial investments in expanding the transportation networks so as to meet the high volume of visitors, which in turn requires construction of new airports. For instance, according to the CAPA (Centre for Aviation) in 2015, the U.S. government invested US$100 billion for the construction of 400 new airports in the U.S. Therefore, increasing financial support by government agencies, in turn is expected to help in propelling growth of the airport charging stations market.

High initial cost is one of the key challenges hampering growth of the market

High initial cost of charging stations is one of the factors negatively impacting growth of the market over the forecast period. Since, cost required for installations of these charging stations is very high, which proportionally increases cost of investment.

Based on application, the mobile phones segment is projected to be the leading segment in the airport charging stations market during the forecasted period

Increasing demand for mobile phones globally, is expected to support growth of the airport charging stations market. According to the International Telecommunication Union, it was estimated that 4.30 billion people used mobile phones globally, which represented 58.7% of the global population. Rising disposable income, increasing spending on media, entertainment and networking, and mobile applications are factors expected to lead to increasing demand for mobile phones. Owing to increasing usage of mobile phones, demand for charging stations is expected to increase. Therefore, increasing demand for mobile phones will help in fuelling growth of the market.

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Global Airport Charging Station Market: Regional Insights

On basis of geography, the global airport charging stations market is segmented into North America, Europe, Asia Pacifica, Latin America, Middle East, and Africa. The market for Asia Pacific is expected to exhibit the highest CAGR during the forecast period. Increasing air passenger’s traffic is one of the major factors leading to growth of the airport charging station market in this particular region. For instance, according to the International Airport Transportation Administration (IATA) analysis, in 2016, the number of air passenger traffic increased in Asia Pacific region as compare to that in 2015. 

Global Airport Charging Stations Market: Competitive Insights

Key players operating in the airport charging stations market including Arconas Corporations, InFlight Peripherals Ltd., Veloxity One, LLC, JCDecaux Corporations, Kwik Boost, Inc. ETone Technology Ltd., ETone Technology, Evans Airport Solutions, Power Tower, Inc., and Winnsen Industry Co., Ltd.

Kay players in the market such as Arconas Corporations, Veloxity One, LLC, and JCDecaux are adopting new strategies such as partnership for installing charging stations in the airport, in order to enhance their market share.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

Global e-Discovery Market 2026 – Industry Analysis, size, share and Trend

e-Discovery is the process of searching, locating, and securing electronic data in order to use as evidence in civil or criminal legal cases. e-Discovery performs its operation both offline and online. Increasing demand for reduced litigation costs of organizations is influencing legal teams in these organizations to adopt e-discovery solutions. e-Discovery solutions help construct laws for effective use and maintenance of resources available to employees, in turn, reducing costs of hardware and maintenance and, thus improving overall operational efficiency of the organisation. This in turn, is boosting growth of the e-Discovery market Size.

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Increasing generation of ESI data is one of the major factors driving growth of the market

The increasing volume of ESI (Electronically Stored Information) data is one of the major factors driving growth of the market. Organizations are generating ESI data in  the form of e-mails, instant messages, word processing documents, spreadsheets, shared drive data, business applications data, voice data, media files, voice recordings, data on cloud, and virtual environment among others unstructured data. For instance, according to International Data Group, unstructured data is growing at the rate of 62% per year and 93% of all data is expected to be unstructured by 2022.

Lack of awareness about e-Discovery is one of the major challenges hampering growth of the market

Lack of awareness about e-Discovery software and solutions is one of the major factors hampering growth of the market. Organizations face problems while resolving legal cases and implementing any new law in the organisation, due to lack of awareness regarding e-Discovery.

On the basis of deployment type, the cloud segment is expected to grow, exhibiting highest CAGR during the forecasted period

On the basis of deployment type, the cloud segment is expected to exhibit the highest CAGR during the forecasted period. Increasing adoption of cloud-based solution and services by enterprisers, in turn is expected to increase the cloud traffic. This in turn, is expected to drive growth of the cloud segment during the forecasted period. For instance, according to the CISCO analysis, in 2016, the cloud traffic was recorded at 6.0 ZB, which is projected to reach up to 19.5 ZB by 2021. Adoption of cloud-based solutions is increasing, as it helps organizations save on various types of cost such as infrastructure cost and hardware cost, which in turn helps utilise the saved costs in other activities that help strengthen the organization’s foothold in the market.

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Global e-Discovery Market: Regional Insights

North America held a dominant position in the global e-Discovery market in 2017, and is expected to retain its dominance throughout the forecast period. Various organizations in the region are shifting their workload to cloud-based platforms, in turn, driving growth of the market in the region. For instance, according to CISCO analysis, in 2015, in North America, the cloud traffic was 1891 EB and is estimated to reach 6844 EB by 2020. 

Global e-Discovery Market: Competitive Landscape

Major players operating in e-Discovery market include Xerox Corporation, Hewlett Packard Enterprise, EMC Corporation, Daegis Inc., Autonomy Corporation PLC, Guidance Software, Inc., FTI Consulting, Inc., Symantec Corporation, and Integron Managed Solutions. The major players are adopting partnership strategies in order to gain a competitive edge in the market. For instance, in August 2017, FTI Consulting, Inc. entered into a partnership with Exterro, Inc., which is a preferred provider of e-Discovery software in the legal and IT sectors. The aim of this partnership was to combine solutions of both companies to provide software, processes, and services that help simplify e-Discovery Suite, which in turn helps in providing more accurate facts for solving legal cases.

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Crowdsourced Smart Parking Industry Overview, Growth Impact and Demand by Regions till 2025

Crowdsourced smart parking is a system that helps drivers to identify parking spots via smartphones or electronic street panels. This system provides data regarding unoccupied parking spaces available for parking, which is helpful for avoiding congestion on-street as well as off-street. This system can be installed in public places such as shopping malls, airports, hospitals, office buildings, and residential communities among others. The goal of the system is to automate and decrease time spent on manually searching for a parking spot.

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Growing concern for parking along with increasing adoption of vehicles are factors driving growth of the market

Major factors driving growth of the crowdsourced smart parking market include increasing demand for vehicles, globally. For instance, according to International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017, globally. Rising adoption of vehicles is resulting in high traffic congestion, which in turn, is increasing the demand for crowdsourced smart parking to ease traffic congestion, which further helps save the time, cost, and fuel. The adoption of crowdsourced smart parking systems helps users in determining the available parking spaces and reserving the spot in advance, reducing the time required to avail parking and reduces human error in parking.

Moreover, increasing number of smart city projects is further increasing the demand for crowdsourced smart parking market over the following few years. For instance, according to the Coherent Market Insights’ analysis, in 2016, the number of smart city projects in Europe accounted for 86, followed by Asia Pacific with 79, and North America with 49. This in turn, is expected to propel growth of the crowdsourced smear parking market during the forecasted period.
However, the major restraint for the market growth is the slow growth of infrastructure, especially in emerging economies such as India and China, among others, owing to high cost of installation. 

Global Crowd sourced Smart Parking Market: Segment Trends

On the basis of applications, the commercial use segment accounted for the largest market share of the global crowdsourced smart parking market in 2017. This growth is attributed to the rising number of shopping malls, large commercial hubs, and sports entertainment hubs being constructed in the region. For instance, according to Coherent Market Insights’ analysis, in 2016, the number of shopping malls in Germany was 474, which increased to 482 in 2017. Public place require appropriate parking of a large number of vehicles to avoid congestion. In such situations, crowdsourced smart parking solutions provide directions and accuracy to the drivers for parking vehicles. This in turn, is expected to propel growth of the commercial use segment.

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Global Crowdsourced Smart Parking Market: Regional Insights

The market for crowdsourced smart parking in North America accounted for largest share in the global market in 2017. The U.S. and Canada are the major growth engine in the market in North America, owing to the increasing sales of vehicles in these countries. For instance, according to the OICA (International Organization of Motor Vehicle Manufacturers), the total vehicle sales of passenger cars in the U.S. was 7.5 million in 2013, which increased to 7.6 million in 2014. Similarly, in Canada, the total sales of passenger cars was 755 thousand units in 2013, which increased to 760 thousand units in 2014. The increasing adoption of vehicles in turn, is expected to increase the demand for high-end automation solutions and software for managing parking payments and guidance.

Moreover, increasing government initiative towards solving problems related to traffic congestion is further expected to boost the implementation of crowdsourced smart parking system across streets. For instance, the America's Surface Transportation Act or "FAST Act" was implemented in 2015 to solve road traffic congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions. This in turn, is expected to fuel growth of the crowdsourced smart parking market in North America.

Asia Pacific market is expected to exhibit highest CAGR over the forecast period due to increasing deployment of smart city and smart infrastructure projects in this region. China, Japan, India, and South Korea are the major growth engines in the region. For instance, in 2015, the Government of India announced plans to develop 100 smart cities by using smart technology to improve the efficiency of services and meet the needs pf citizens. This in turn, is expected to boost growth of the market in this region.

Global Crowdsourced Smart Parking Market: Competitive Landscape

Major players operating in the global crowdsourced smart parking market include 3M, Amano Corporation, Cubic Corporation, Thales Group, Kapsch TrafficCom AG, Nortech Control Systems Limited, Siemens Swarco AG, Fujica, Imtech, and Xerox Corporation.

Key players in this market are adopting inorganic strategies such as mergers and acquisitions to strengthen their foothold in the global market. For instance, in December 2016, Kapsch TrafficCom AG acquired Schneider Electric transportation business to help Kapsch TrafficCom AG expand its portfolio of intelligent transportation management solutions, which in turn helps the company gain a competitive edge in the global market.

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Bioacoustics Sensing  Market Report 2018:2026 – Industry Growth Forecasts by Manufacturers, Countries, Type and Application

Bioacoustics is branch of science that combines biology and acoustics. It is associated with the production, control, transmission, reception, and effects of sound on animals as well as humans. It is used to understand the relationship between features of sounds animals produce, the nature of the environment in which they are used, and the functions they are designed to serve. The technology records and analyzes ultrasound and vibration by using digital technology, which consists of equipment and software. Increasing electronic developments and miniaturization of equipment have expanded the field of bioacoustics, as they use bioacoustics sensors to improve sensitivity and better the operational efficiency. Bioacoustics sensors are lighter in weight than integrated sensors due to which the overall weight of the system reduces. High-end technologies such as augmented reality and machine learning are used in bioacoustics sensing, which in turn is expected to further strengthen the adoption of bioacoustics in the near future.

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Factors driving growth of the bioacoustics sensing market

Major factors driving growth of the bioacoustics sensing market include growing awareness and worldwide acceptance of artificial intelligence. Report of the U.S. (GAO) Government Accountability Office estimated that, revenue from AI is projected to account for US$ 25 billion to over US$ 40 billion by 2025, from US$ 5 billion in 2017. Artificial intelligence is majorly used in wearable and connected devices, which are products used in bioacoustics sensing technology. Additionally, the adoption of bioacoustics sensing technology is increasing in the healthcare sector due to various applications such as improving human comfort, convenience, and security as well as monitoring health conditions. Bioacoustics sensors are used for constant observation and monitoring of blood pressure, respiratory system, and stamina. For instance, according to report by Semantic Scholar in the U.S., 39 of 40 patients (97.5%) demonstrated good tolerance of the bioacoustics sensor for detecting heart beats in 2015. The Ionic Polymer Metallic Composites can be used as bio?acoustic sensor, is placed over the carotid artery to resolve the arterial pressure waveform in situ and on the thorax to measure the S1 and S2 cardiac sounds. Major applications of bioacoustics sensing devices in the healthcare sector include primary stage detection of diseases such as cancer. It is also used in skin put technology, which uses the surface of the skin as an input device, it makes the human body suitable for acoustic transmission. It permits users to use their own arms and hands as touch screens by sensing different vibrations that are generated when knocking various parts of skin.

Bioacoustics sensing is also used for biodiversity monitoring, which is used to determine the state of environment. It has been found that using bioacoustics sensing in biodiversity is non-destructive as it does not cause any harm to any life form on earth while in use. This in turn, has increased its adoption in this biodiversity monitoring sector. It is also used in agricultural and forestry for increasing production. Bioacoustics sensing encourages farming practices that are able to maintain high level of environment. It helps to locate plant species and monitors plant growth. ABI (Automated Bioacoustics Identification) device is a new bioacoustics sensing tool used to find out solutions to problems that arise unexpectedly in the field identification of species. This technology improves auditory observations, and also improves the quality of biological surveys and environmental monitoring. For instance, the latest project ‘Observe Nature by Ear! preparation of the Learning Program Assisted by Vocal Recognition Technology’ funded by the JST (Japan Standard Time) Program for Community Science Centers and School Cooperative Development, uses ABI technology for the promotion of scientific understanding and environmental concern among children.

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However, few providers of bioacoustics sensing software and hardware causes slowdown in growth of the market. Although it is an emerging field, lack of knowledge and skilled resources has led to minimalistic adoption of this technology across numerous industries. High cost of production also inhibits the growth of this market. Lack of skilled workers and experts for detecting and analyzing
sound waves that are used in bioacoustics sensing, companies avoid adopting such sensors, in turn, hindering growth of the bioacoustics sensing market.

Regional Insight for bioacoustics sensing market

On the basis of geography, the global dehumidifier market size is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds the largest share of the global bioacoustics sensing market, owing to high adoption of advanced technologies and artificial intelligence in countries such as the U.S. and Canada. According to report by weforum (World Economic Forum), global income from AI is expected to grow to over US$ 47 billion in 2020, from around US$ 8 billion in 2016. Europe is considered as the second-largest market after North America due to growing adoption of wearable technology and advanced technologies such as bioacoustics sensing in the region. For instance, according to report by PLOS (Public Library Of Science) it is estimated that the global market for wearable’s will exceed US$ 34 billion by 2020. Additionally, Europe market has witnessed rapid development of skin put technology, which is also responsible for the increasing adoption of bioacoustics sensing in Europe. Major growth engines for the bioacoustics sensing market in Europe include U.K., France, and Germany. Asia Pacific market is growing at a slow rate due to lack of knowledge of bioacoustics sensing technology and dearth of skilled workers in the region.

Key Players in Bioacoustics Sensing Market

Major players operating in the global bioacoustics sensing market include Matsushita Electric Industrial, Panasonic Corporation, Honeywell, Pacesetter, Samsung Electronics, Medacoustics, Remon Medical Technologies, Avisoft Bioacoustics, MSI Transducers Corporation, Materials Systems Inc., AT&T, and IBM.

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Single Carriage Ejector Racks Market, 2018-2026 – Industry Survey, Market Size, Competitive Trends: Coherent Market Insights

Single carriage ejector rack is a carriage system, which enables the racks to stores bombs, missiles, and weapons on it. These carriage have multi-purpose rack assembly capability, which can carry both air-to-ground bombs and air-to-air missiles. This multi-purpose rack can be placed within a bomb bay, under the aircraft wing, on a carriage adapter or other typical weapon carriage platform. This single carriage ejector rack has multiple racks, and large space, which provides facility of placing large bombs and missiles in it.

 

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Increasing territorial disputes and rising concerns for countermeasures against terrorist activities is expected to drive the market growth

 

Rising territorial disputes and terrorist attacks in countries such as Russia and Ukraine for Crimea; China and Japan for the uninhabited islands in the East China Sea; India and Pakistan for Jammu & Kashmir, Israel and Palestine for the Gaza Strip, Golan Heights, and West Bank is a major factor for increasing demand for these racks. Several other regional disputes, which inadvertently are effecting the security of the nation is expected to aid in growth of the market. For instance, according to the ourworlddata.org analysis, in 2013, total number of terrorist related incident occurred was 11,996 and it increased to 16,860 in 2014, globally. Additionally, according to the U.S. Department of State, in India the total number of terrorist attack occurred in 2014 were 764 and it has increased to 791 in 2015. Therefore, increasing territorial disputes, which further increases use of weapons in order to protect the nation’s security from the terrorist attacks is expected to aid in growth of the market.

 

Moreover, increasing government regulation to monitor international borders and safeguard people against terrorist activities is another factor driving growth of single carriage ejector racks market. For instance, The USA Patriot Act is an antiterrorism law enacted by the U.S. Congress in October 2001, to improve the ability of U.S. law enforcement to detect and deter terrorism. This act allows law enforcement to use surveillance and wiretapping to investigate terror-related crimes and providing aid to terrorism victims and public safety officers involved in investigating or preventing terrorism or responding to terrorist attacks. Therefore, increasing government initiative towards protecting the nation from the terrorist attack will positively encourage the market player to purchase these systems for aircrafts, which provides facility of carrying large bombs and missiles during fight. This will in turn help in propelling growth of the market.

 

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High initial investment is one of the major factors restraining growth of single carriage ejector rack market

 

Factors negatively affecting growth of the market is high cost of investment for manufacturing of these racks. The components used in single carriage ejectors are very costly, which further increase the overall cost of the system. Hence, this factor restricts growth of global market.

 

Global Single Carriage Ejector Racks Market: Regional Insights

North America accounted for the largest share in the global single carriage ejector rack market in 2017 and expected to retain its dominance during forecasted period from 2018 to 2026. This growth is attributed to presence of leading players such as Cobham Plc., Harris Corporation, and AVIC Corporation among other, in the regional market. Furthermore, companies in the region are focusing on advancement in the existing products, which in turn will support growth of the market. For instance, November 2017, Harris launched the BRU-47 and BRU-57 for KF-X fighter jet model. The BRU-47 single store carrier, known for its reliability and ease of maintenance, also reduces the time needed for loading stores as this system is incorporated with sway-brace technology, which further provides significant benefits such as shorter store loading times and reduces maintenance. Hence, this factor will help in propelling growth of the global single carriage ejector racks market in this particular region.

Global Single Carriage Ejector Racks Market: Competitive Landscape

 

Major players operating in the global single carriage ejector racks market are Cobham Plc., Harris Corporation, AVIC (Aviation Industry Corporation), Raytheon, Moog, Inc., Ultra Electronics, Circor Aerospace& Defence,Marotta Controls, AEREA s.p.a., 
and Systima Technologies.

 

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Emergency Lighting Battery Market Size, Share, Growth, Trends and Forecast, 2018-2026 by Coherent Market Insights

The Emergency Lighting Battery Market was valued at US$ 1,107.4 Mn in 2017, and is expected to increase to US$ 3,107.8 Mn by 2026 registering a CAGR of 12.1% over the forecast period from 2018 to 2026, according to Emergency Lighting Battery Market Report, by Battery Type (NiCd battery, NiMH battery, Li-ion battery, and Lead-acid battery), by Lighting Source (LED, Incandescent, and Others), by Application (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights

 

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Proliferation of smart cities and connected infrastructure are expected to propel growth of the emergency lighting battery market through 2026. According to United Nations’ press release in July 2014, around 54% of the global population lived in the urban areas, which is expected to account for overall 66% by 2050. Rapid urbanization across all the major global economies, specifically in the BRIC countries is expected to drive demand for better infrastructure. Moreover, increasing population and government initiatives for smart city infrastructures are expected to fuel market growth. According to the white paper report by Technology that was sponsored by the United Parcel Services and Consumer Technology Association, the worldwide smart city initiatives rose to over 235 in 2016, an estimated surge of over 38% in comparison to 2013. Proliferation of such infrastructural activities are expected to support growth of the emergency lighting battery market.

 

LED lighting segment accounted for largest market share in 2017

 

On the basis of lighting source segment, LED lights are expected to account for the largest market share by 2026. Technological advancement in lighting industry coupled with rampant product invention is gaining traction. This is due to drastic transformation in semiconductor industry and evolution of light bulbs from incandescent bulbs to LEDs, leading to introduction of smart and intelligent lighting systems. Intelligent lighting systems can be of two types such as sensor incorporated and non-sensor incorporated. Sensor incorporated lighting systems are able to change the brightness of lights automatically by detecting people and daylight. However, non-sensor incorporated lighting systems are regarded as smart lighting systems, as they can be operated through programming.

 

Furthermore, increasing demand for green technologies is fueling growth of the LED lights segment. LED lighting systems consume around 50% less energy to generate an equivalent light intensity emitted by Compact Fluorescent Lamps (CFL) and Cold Cathode Fluorescent Lamps (CCFL). According to Coherent Market Insights analysis, this reduced energy consumption directly converts into a reduction of over 700 million tons of carbon dioxide emissions annually. By observing the current market trend, LEDs are estimated to completely replace CFLs and CCFLs in the near future.

 

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Key Trends and Analysis of the Global Emergency Lighting Battery Market:

 

The market in Asia Pacific is projected to witness highest CAGR over the forecast period (2018 – 2026), owing to increasing infrastructural developments across the emerging economies in Asia Pacific such as India, Malaysia, and Indonesia. The market for Asia-Pacific is expected to account 21.9% share of the global emergency lighting battery market by 2026. Moreover, proliferating smart city projects, government initiatives regarding provision of residence to the middle and lower economic class population, and the requirement to enhance transport are projected to present strong growth prospects for construction industry. For instance, a white paper released by Government Technology under the name, ‘Evolution of Smart Cities and Connected Communities’, co-sponsored by the United Parcel Service (UPS) and the Consumer Technology Association, have reported development of around 600 smart city projects in India and around 285 similar projects in China. These factors are propelling demand for infrastructure, which in turn is driving regional growth of emergency lighting battery market.

Major players operating in the global emergency lighting battery market include Philips Lighting Holding B.V., Hubbell Lighting, Inc., Cooper Industries, Schneider Electric SE, Emerson, Legrand S.A., Acuity Brands, Beghelli S. P. A., Daisalux, Zumtobel Group, and Osram Licht AG.

 

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About Coherent Market Insights:

 

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

 

Contact Us:

 

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#3200

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Sensor Market, 2018-2026 – Market Outlook, Competitive Analysis, Industry Trends: Coherent Market Insights

— feeling amazing

Sensor is a device that detects different types of physical input such as light, heat, motion, moisture, and pressure, among others. This data transmits to an electronic device for further processing. Sensors find applications in various industries such as electronics, IT & telecommunication, automotive, and healthcare. 

 

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Increasing demand for Internet of things (IoT) is one of the major driving factors for growth of the market

Increasing utilization of internet of things (IoT) is a major factor expected to boost growth of the global sensors market. Major benefits associated with IoT devices is tracking data in real-time, and providing more accurate data, which in turn leads to better decision making. Owing to these features, advent of IoT technology has led to increased adoption of smart devices such as smart watch, smart grid, smart homes, and smart water networks. For instance, according to the Coherent Market Insights' analysis, the total unit of smart watches sales in 2016 was US$ 36 million and it increased to US$ 76 million in 2017, globally. These systems are incorporated with different types of sensors that help in integrating several functionalities in a single chip such as seamless transfer and exchange of data. Moreover, sensors can be utilized for various applications including monitoring, security as well as intelligent lighting systems. For instance, according to the Coherent Market Insights’ analysis, the number of total IoT connected devices was around 15.4 billion in 2015 across the globally. Therefore, these devices require sensors which in turn is propelling growth of the global sensors market.

Increasing demand for sensors in smartphones another key factor supporting growth of the global sensors market

Smartphone are incorporated with different types of sensors such as gyroscope, proximity sensors, motion sensors, ambient light sensor, proximity, biometric sensors, and temperature detector that are used to measure motion, orientation, and various environmental conditions. These sensors are capable of providing data with high precision and accuracy, which in turn aids in automatic control. Smartphone manufacturing companies have increased the number of sensors in their devices to enhance the overall user interface experience, which is expected to aid in growth of the market. For instance, in September 2017, Apple launched iPhoneX with the FaceID unlock features. The company has incorporated four sensors, which in turn provides accurate facial recognition in any lighting conditions. Hence, these factors are accelerating the global sensors market growth.

 

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High cost of smart sensors development is a key factor restraining the global sensors market growth

Devices that are incorporated with sensors add extra value to the devices, which is one of the major factors restraining growth of the market. Another factor expected to restrain global sensors market growth is the limited functionality of sensors. Electronic systems are dependent on sensors, microcontrollers, and semiconductors to function. The sensors are responsible for detecting information and convey it to an Electronic Control Unit (ECU). The ECU processes the data through an algorithm, and then it helps in decision making and automating the process. Hence, limited functionality of sensors is reducing its dependability. This factor is further hindering the global market growth.

Global Sensor Market: Regional Insights

North America accounted for largest market share in global sensors market in 2017 and is expected to retain its dominance during the forecasted period. This is owing increasing usage of IoT devices in various verticals such as automotive, healthcare, agriculture, and others. This is one of the factors help in propelling growth of the market in this region. For instance, according to the Coherent Market Insights' analysis, in the U.S., around 60% of the healthcare industry have used IoT in 2017 for diagnosis and monitoring of the patient health. IoT devices in the healthcare sector helps in cost reduction, as healthcare specialists can take advantage of remote health monitoring, without the patient being present in the hospital. Additionally, advancement in wearable health gadgets such as the Apple iWatch is playing a pivotal role in monitoring individual’s health. Therefore, increasing usage of IoT, which is further expected to propel the growth of the sensors market in this particular region.

Global Sensor Market: Competitive Landscape

Key players operating in the global sensor market are STMicroelectronics N.V, NXP Semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies, Inc., Atmel Corporation, Texas Instruments Inc., Robert Bosch Gmbh, Johnson Controls International Plc., Sony Corporation, and Honeywell International Inc.