Since no two people can have the same pattern of markings on their fingertips, fingerprint sensors have become an important tool in security applications. Almost all new smartphones come with an integrated fingerprint sensor that established the identity of the user for unlocking the screen and allowing access to certain applications with such security locks. In 2017, almost 50% of all smartphones produced had such components, and the next year, the percentage increased to 60%.
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How is Cold Chain Augmenting Trade and Commercial Activities Involving Meat and Dairy Products?2/28/2022 As per a study conducted by P&S Intelligence, the global smart lighting market is expected to generate a revenue of $27,064 million by 2024, and is predicted to advance at a 20.0% CAGR during the forecast period (2017–2023). The market is witnessing growth because of the increasing adoption of innovative technologies, including intelligent sensing and internet of things (IoT) in lighting solutions, rising need for energy-efficient lighting solutions, owing to the growing awareness regarding energy conservation, swift commercialization of the Wi-Fi technology, and gradual replacement of incandescent lamps with light-emitting diodes (LED).
Smart lighting systems are integrated with a number of sensors and wireless technologies and are capable of decreasing the energy consumption significantly. In terms of source, the smart lighting market is categorized into LED, high intensity discharge lamp, and fluorescent lamp, among which, the LED accounted for the major share of the market in 2016 and is further predicted to advance at the fastest pace during the forecast period. This is majorly because of the fact that with LED-based smart lighting solutions, the user can control the light digitally. Get More Insights: Smart Lighting Market Segmentation Analysis Report On the basis of wireless communication, the smart lighting market is divided into Zigbee, Bluetooth, Wi-Fi, and others, out of which, the Wi-Fi division dominated the market in 2016. The division is further projected to progress at the fastest pace during the forecast period. When service is considered, the industry is bifurcated into lighting as a services (LaaS) and smart phone application. Between these two, the smart phone application bifurcation is predicted to hold the larger share of the market during the forecast period. Geographically, Europe has been the largest smart lighting market in 2016. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, which can be ascribed to the swift digitalization in industries, innovations in smart lighting technologies, growing investments in the industry, and increasing adoption of connected technologies in indoor and outdoor settings. In addition to this, the adoption of these lighting systems is also increasing in the region because of the advancements being witnessed in regards of IoT and enhancement in the network infrastructure. A number of factors, such as the rising installation of chillers for district cooling systems and growing construction sector due to the increasing spending on infrastructure by governments are projected to drive the growth of the Middle East and Africa (MEA) chiller market at a CAGR of 3.6% during the forecast period (2019–2024). According to P&S Intelligence, the market generated revenue of $1.1 billion in 2018, which is expected to grow to $1.3 billion by 2024. Currently, the market is witnessing the trends of magnetic-bearing chillers and smart connected chillers.
A number of factors, such as the escalating demand for racing drones, increasing application of augmented reality (AR) and virtual reality (VR) in drones, and ongoing advancements in technologies such as geo-fencing and collision avoidance, are expected to drive the consumer drones market at a healthy CAGR of 28.1% during the forecast period (2016–2022). According to P&S Intelligence, the market was valued at $389.7 million in 2015, and it is projected to generate $2,196.9 million revenue by 2022.
As the disposable income of people is increasing, the demand for electronic products is rising as well, primarily in countries such as India, China, Japan, and the U.S. The strong economic growth and increasing internet penetration across the world have also led to the increasing demand for products such as smartphones, laptops, and tablets. Owing to technological advancements, flexible electronic products have also been developed in the past few years. Since the preference of consumers is changing, various companies are engaged in the development of advanced products. In order to make such products, industries have now started using printed electronic solutions.
A number of factors, such as the increasing penetration of smartphones, surging adoption of internet of things (IoT), rising sales of mobile devices, and growing telecom industry, are expected to drive the growth of the 5G RF transceiver market at a CAGR of 30.4% in the foreseeable period (2020–2030). According to P&S Intelligence, the market generated $112.0 million revenue in 2019. Moreover, the market is witnessing a key trend of surging adoption of wideband transceivers, due to technological developments and rise in focus on reliable, seamless, and secure communication.
One of the prime factors aiding the market growth is the increasing demand for 5G RF transceivers from the growing telecom sector. The surging launches of 5G services in the U.S., the U.K., China, and South Korea are driving the installation of such devices in base stations and telecom exchanges. For instance, since the launch of such networks in 2019, over 86,000 base stations have been set up in 50 Chinese cities, thereby increasing the need for these transceivers. Similarly, Ericsson installed base stations in March 2020 in the U.S., to accelerate 5G deployment. Read Full Report: 5G RF Transceiver Market Trends The vertical segment of the 5G RF transceiver market is categorized into telecommunications, consumer electronics, cable/broadcasting, military & defense, aerospace, healthcare, and others. Among these, the consumer electronics category is expected to witness the fastest growth during the forecast period. This can be ascribed to the surging incorporation of these transceivers in smartphones due to the increasing launches of 5G services by telecom companies. Further, according to the Global System for Mobile Communications Association (GSMA), over 50% subscribers of this technology demand higher data speed. Moreover, the 5G RF transceiver market is classified into mobile devices, base stations, embedded modules, radar systems, and others, based on application. Of these, the base stations category accounted for the largest share in the market in 2019, as advanced RF front end (RFFE) design is essential to support the 5G network. Additionally, the RFFE design of advanced smartphones is complex due to the advanced long-term evolution-unlicensed (LTE-U) capabilities, complex antenna architecture, expanded carrier aggregation, and higher-order modulation. Thus, in base stations, 5G RF transceivers are being installed to support higher-frequency bands and higher broadband speeds. With the rapid expansion of the chemical industry, the sales of vacuum pumps are booming in China. This is because vacuum pumps are used extensively in the chemical and pharmaceutical industry in several applications such as material transfer, drying, and distillation. According to various reports, China had the highest share in global chemical production in 2018. The country accounted for around 37% of the total chemical sales across the world.
The blockchain devices market generated revenue of $0.3 billion in 2019, which is expected to reach $23.5 billion by 2030, at a CAGR of 48.7% during the forecast period (2020–2030)! The growth will be propelled by the expanding market of cryptocurrencies and spurring demand for blockchain solutions. The demand for cryptocurrencies has increased significantly in the last few years, as there is no central regulatory authority for it. The digital currency gained popularity with the unprecedented growth of Bitcoin in 2017. Currently, several cryptocurrencies have emerged, such as Dash, Ripple, Ethereum, Litecoin, and Monero.
The blockchain devices market growth is supported by the escalating demand for blockchain solutions, primarily from the banking, financial services, and insurance (BFSI) sector. Banks and financial institutions are adopting these solutions to curb fraud and financial errors, as blockchain offers high safety and security while exchanging money, data, and information. Owing to this feature, businesses across the globe are incorporating blockchain devices to deal with the high volume of data breaches and cyberattacks, which are an especially grave issue for the BFSI sector. Get More Insights: Blockchain Market Growth At present, the blockchain devices market is characterized by the primary trend of wireless blockchain devices. Key market players, such as FuzeW and Ledger SAS, have introduced wireless hardware wallets to reduce the hassles of using wired technologies. In the same vein, GENERAL BYTES s.r.o. and Lamassu Industries AG offer wireless ethernet ports and crypto ATMs. With time, the retail sector has started installing wireless variants of blockchain point of sales (POS) terminals to provide mobility to retailers while receiving payments. The type segment of the blockchain devices market is classified into crypto hardware wallets, blockchain smartphones, crypto automated teller machines (ATMs), and POS terminals. Amongst these, the crypto hardware wallets division dominated the market in 2019 owing to the surge in the number of cryptocurrency transactions and users, which are resulting in the need for securing these virtual currencies. Crypto ATMs are expected to display the fastest growth in the forecast period due to the enactment of favorable government regulations for the installation of this equipment. During the historical period (2014–2019) North America generated the highest revenue for the global blockchain devices market. This was due to the implementation of stringent government policies for regulating the BFSI sector, to attain optimum transparency and security. The U.S. was the larger contributor to the North American market due to the rising expenditure on the development of the blockchain technology. Moreover, the high awareness about the blockchain technology in the region has supported the market growth.
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September 2022
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