The SCADA market is evaluated at US$22.946 billion for the year 2020 growing at a CAGR of 6.01% reaching a market size of US$34.519 billion by the year 2027.
Supervisory Control and Data Acquisition (SCADA) consists of different computers, user interfaces, and networked data communication to monitor critical infrastructure systems and the operation process. The most important aspect of SCADA is its ability to evolve with the ever-changing technology. SCADA systems are crucial for industrial organizations, as it allows them to control industrial processes locally or at remote locations, monitor, gather, and process real-time data, and record events into a log file, etc. These control systems consist of hardware and software elements. Furthermore, SCADA systems work well with many different types of enterprises owing to their wide range from simple configurations to large ones. Additionally, an effective SCADA system can result in significant savings of time and money. Moreover, numerous business owners in the oil and gas, energy, food and beverage, transportation, recycling, and other industries are drawn to SCADA because of its many alluring benefits, such as interoperability, scalability, communications, and support. These benefits allow these business owners to adopt these control systems as the foundation of their operations.
In the predicted timeframe, it is anticipated that the development of IoT and Industry 4.0 will accelerate the growth of the SCADA market
The need for real-time data to perform process analysis and predictive maintenance in industrial environments coupled with the growing demand for industrial robots are the key factors increasing the adoption of Industry 4.0 globally. Industry 4.0 revolutionizes the monitoring, automation, and analysis of supply chains through smart technology. It is powered by the industrial Internet of Things (IIoT) and cyber-physical systems, IoT, and cloud computing. Industry 4.0 aids the issue of human errors associated with the production process and allows most industrial processes and systems to go automated, which allows the production units to operate around the clock. Moreover, Industry 4.0 also incorporates automation infrastructure like SCADA or IoT, which aids the remote manufacturing process, and resourceful collection of real-time information to ensure optimum operations. Traditionally, SCADA involves the manual creation of analytical reports, but when IoT technologies are connected, this process may be effectively automated in less time and obtain high-quality insights. The market environment for SCADA has improved as a result of the introduction of IoT and the updating of current SCADA with various enticing aspects including scalability and data analytics. The necessity for efficient supply chains, quality products, and ongoing process optimization are driving the market’s expansion due to the increasingly strict regulatory requirements. Henceforth, these developments in the IoT and industry 4.0 segments are expected to propel the market for Supervisory Control and Data Acquisition (SCADA) during the anticipated period.
Additionally, the growing trend of digitalization is expected to augment the SCADA market in the coming years. The trend of digitalizing the operation is gaining momentum worldwide, countries are supporting, investing, and planning for digitally organized operations. For instance, the Government of India launched the Digital India flagship program with a vision to transform India into a digitally empowered society. Under the Digital India Program, the government approved the North East BPO Promotion Scheme to incentivize the BPO/ITES operations in North East Region. These government initiatives to bring digital transformations are expected to drive the SCADA market.
According to the analysts, the growth of the SCADA market is projected to be fueled by the numerous strategic deployments made by both public and private companies in the SCADA market on a global scale
Many businesses are stepping up their statistical approaches to improve their operations and market presence to fulfill the increased demand for data analytics and operational process management. For instance, in March 2022, CODRA a French developer of the Panorama Suite Platform, which is specialized in front-end communication, SCADA, and data historian launched its Panorama Suite 2022. This new version consolidated the company’s approach of putting the customer’s priorities at the front, whilst offering practical responses to the challenges of the digital transformation and green transition. Furthermore, this new version consolidated a two-level functional architecture with local SCADAs deployed across several sites, along with a centralized Hyper vision to provide you with centralized and secure asset management. Eventually, the deployment of these applications can reduce the end-users time and money. Consequently, these user benefits are expected to propel the SCADA market in the forthcoming years.
Based on components the market for Supervisory Control and Data Acquisition (SCADA) is expected to hold a significant share during the forecast period
Based on components, the SCADA market is segmented into Remote Terminal Units (RTUs), Programmable Logic Controllers (PLC), and SCADA Communication Systems. During the anticipated period, it is expected that the Programmable Logic Controllers segment will hold a notable share of the SCADA market. The PLC uses special programmable memory to store instructions and to implement functions like timing, sequencing, logic, and arithmetic among others to control machines or processes. Furthermore, can withstand changes in temperature, humidity, electrical noise, and vibration owing to its robust structure. Also, they can be programmed with a simple user-friendly coding language which makes it an easy and economical tool for businesses to maximize productivity. A PLC is commonly used in civil applications such as washing machines and for controlling traffic lights. Moreover, these PLCs are used in several industries to monitor and control production processes and building systems. Thus, the extensive use and benefits of the PLC systems are expected to drive the market for Supervisory Control and Data Acquisition (SCADA).
The Asia Pacific region is expected to hold a dominant share of the SCADA market during the anticipated timeframe
Based on Geography, the SCADA market is divided into North America, South America, Europe, and the Asia Pacific. Over the years, the Asia-Pacific region has become a production hub for the automation technology industry owing to the presence of manufacturing giant countries like China, India, and Japan among others. Furthermore, the major market players are companies like Mitsubishi Electric Corporation, Yokogawa Electric Co., and Hitachi Ltd., which operate their business in this region. This is another factor for the growth of the SCADA market in the Asia- Pacific region. Moreover, the increasing automation due to the rising need for high-quality products, along with rising production rates are driving the market growth. The rising industrial automation in this region is fueled further by rising investments and business expansions. Additionally, the water and wastewater sector, renewable energy sector, smart grids sector, and transportation sector are expected to drive the growth of the SCADA market in the Asia-Pacific region during the study period.
Combined Heat and Power Systems – The Future of Energy
Thought ArticlesThe Combined Heat and Power Market is expected to grow at a compound annual growth rate of 14.58% over the forecasted period to reach a market size of US$28.532 billion in 2027 from the US$11.002 billion in 2020. A CHP (combined heat and power) system refers to an energy-efficient system that is able to generate electricity from a variety of fuels and has the ability to retain the heat that is generated to be reused for applications like domestic hot water and industrial processes, among others. These systems can be installed in a number of places like, hotels, office buildings, individual facilities and so on. Combined heat and power systems are considered the best for those facilities that have a requirement for both electricity and heat. One of the prime factors driving the growth of the combined heat and power market is the steady growth of end-user requirements for the replacement of conventional energy systems with these CHP systems. This is because of the very high operational costs as well as maintenance costs associated with those systems and also owing to uninterrupted utility supply.
Adding to that, the increasing demand for energy efficiency, especially in the industrial sector, has further catalysed the adoption and application of these systems in the analysed period, which will inevitably lead to the growth in the market. According to the United States Environmental Protection Agency, about 67% of the energy used by conventional energy systems is often wasted into the atmosphere in the form discharged heat during the electricity distribution process. Hence, CHP systems are considered highly efficient and useful as they are able to retain the heat and cope with the losses due to distribution. These systems have the potential to improve efficiency up to 80% which makes it about 30% higher than the conventional technologies.
Furthermore, the constant rise in the demand, as well as usage of natural gas due to the growing awareness among people has also attributed to the growth of the combined heat and power systems market during the forecast period. The attractive and useful features like better reliability, efficiency and safety, offered by these CHP systems have also been observed to be factor in their adoption in multiple countries across the globe. There are also many countries in both developed as well as emerging economies that are focusing on the reduction of greenhouse gas emissions. This has further led to a rise of expenditure in renewable energy and related projects, which consequently is anticipated to propel the growth opportunities for manufacturers in the times to come.
Government regulations to attribute to market growth
The prime factor driving the combined heat and power market is the increasing focus of governments across the globe towards the reduction of carbon footprints and the aim of protecting the environment that has degraded due to the heavy use on fossil fuels. Consequently, governments and corporations around the world have started investing religiously in exploring the potential that is offered by the renewable sources of energy like solar, wind, hydroelectric energy and so on. With these rising investment in the setup of clean energy power plants along with strict government policies, there is a potential for a lot of business opportunities for combined heat and power systems manufacturers in the coming times. For instance, in June 2019, the UK government an announcement to amend the Climate Change Act 2008, which included the reduction of carbon emissions by 80% by 2050. Likewise, in Germany, the adoption of CHP plants has been prevalent throughout the country owing to Combined Heat and Power Act 2002. The act focused on promoting the adoption of these plants by offering adequate funding as well as subsidiaries to lure manufacturers for their adoption. Further, according to a US Environmental Protection Agency report, the country aimed at installing 40 gigawatts of new, cost-effective CHP by 2020 and with that aim of saving $10 billion per year in terms of energy use and also raise the total CHP capacity by approximately 50% in the next decade. Hence, all these government regulations and actions are anticipated to drive the growth of the combined heat and power market during the forecast period.
High initial cost and setup and maintenance cost to cause a restraint to growth
One of the biggest problems of installing a CHP system is the high initial cost associated with it that is required for its installation. In addition to the equipment for power generation like generator systems, prime mover, among others, CHP plants also require other equipment that include boilers, absorption chillers, heat exchangers and so on. The cost of a conventional CHP plant is estimated to be about 2.4 times more than that of a power generation plant of the prime mover and same capacity, making it a major obstacle towards growth for the CHP market. Moreover, maintenance costs of CHP systems are also exceedingly high due to the complexity of the system, which includes a plethora of components such as prime mover, heat and steam pipes and so on. To achieve high efficiency of the CHP system, timesly maintenance of all its components is needed regularly, which adds on to the overall maintenance costs. Therefore, this factor can potentially discourage people from setting up CHP plants thus being a restraint towards market growth.
Europe and North America to holds significant market share while the APAC region to show robust growth
Geographically speaking, Europe is projected to hold a significant market share as it is considered as one of the most prominent regions inclined towards reducing carbon emissions. Several countries in this region are taking necessary steps to lower their carbon emissions along with strict regulations concerning the promotion of CHP projects in the form of subsidy schemes and funding provided to these projects. Further, an increased amount of investments in clean energy projects is also projected to be a major factor contributing to the market growth in the European region. North America is also projected to hold a significant share in the market due to the region being one of the most prominent in the early adoption of technology. Adding to this, the presence of cutting-edge infrastructure backing the power sector and a growing focus on increasing the installation capacity of CHP plants will be some major factors in driving the the market in the North American region towards growth. The Asia Pacific region is expected to show robust growth during the forecasted period, owing to the growing emphasis of the governments of many countries to raise the share of clean energy in the energy mix.
Covid Insights
The pandemic affected the CHP market very negatively due to the fall in demand for energy as the subsequent lockdowns led to the shutting down of many manufacturing plants across the globe. Adding to this, due to the slowdown in the market, a lot of CHP companies were not able to update their industrial process and equipment to be in line with the environmental regulations.
SCADA Systems for Efficient Work Management
Thought ArticlesThe SCADA market is evaluated at US$22.946 billion for the year 2020 growing at a CAGR of 6.01% reaching a market size of US$34.519 billion by the year 2027.
Supervisory Control and Data Acquisition (SCADA) consists of different computers, user interfaces, and networked data communication to monitor critical infrastructure systems and the operation process. The most important aspect of SCADA is its ability to evolve with the ever-changing technology. SCADA systems are crucial for industrial organizations, as it allows them to control industrial processes locally or at remote locations, monitor, gather, and process real-time data, and record events into a log file, etc. These control systems consist of hardware and software elements. Furthermore, SCADA systems work well with many different types of enterprises owing to their wide range from simple configurations to large ones. Additionally, an effective SCADA system can result in significant savings of time and money. Moreover, numerous business owners in the oil and gas, energy, food and beverage, transportation, recycling, and other industries are drawn to SCADA because of its many alluring benefits, such as interoperability, scalability, communications, and support. These benefits allow these business owners to adopt these control systems as the foundation of their operations.
In the predicted timeframe, it is anticipated that the development of IoT and Industry 4.0 will accelerate the growth of the SCADA market
The need for real-time data to perform process analysis and predictive maintenance in industrial environments coupled with the growing demand for industrial robots are the key factors increasing the adoption of Industry 4.0 globally. Industry 4.0 revolutionizes the monitoring, automation, and analysis of supply chains through smart technology. It is powered by the industrial Internet of Things (IIoT) and cyber-physical systems, IoT, and cloud computing. Industry 4.0 aids the issue of human errors associated with the production process and allows most industrial processes and systems to go automated, which allows the production units to operate around the clock. Moreover, Industry 4.0 also incorporates automation infrastructure like SCADA or IoT, which aids the remote manufacturing process, and resourceful collection of real-time information to ensure optimum operations. Traditionally, SCADA involves the manual creation of analytical reports, but when IoT technologies are connected, this process may be effectively automated in less time and obtain high-quality insights. The market environment for SCADA has improved as a result of the introduction of IoT and the updating of current SCADA with various enticing aspects including scalability and data analytics. The necessity for efficient supply chains, quality products, and ongoing process optimization are driving the market’s expansion due to the increasingly strict regulatory requirements. Henceforth, these developments in the IoT and industry 4.0 segments are expected to propel the market for Supervisory Control and Data Acquisition (SCADA) during the anticipated period.
Additionally, the growing trend of digitalization is expected to augment the SCADA market in the coming years. The trend of digitalizing the operation is gaining momentum worldwide, countries are supporting, investing, and planning for digitally organized operations. For instance, the Government of India launched the Digital India flagship program with a vision to transform India into a digitally empowered society. Under the Digital India Program, the government approved the North East BPO Promotion Scheme to incentivize the BPO/ITES operations in North East Region. These government initiatives to bring digital transformations are expected to drive the SCADA market.
According to the analysts, the growth of the SCADA market is projected to be fueled by the numerous strategic deployments made by both public and private companies in the SCADA market on a global scale
Many businesses are stepping up their statistical approaches to improve their operations and market presence to fulfill the increased demand for data analytics and operational process management. For instance, in March 2022, CODRA a French developer of the Panorama Suite Platform, which is specialized in front-end communication, SCADA, and data historian launched its Panorama Suite 2022. This new version consolidated the company’s approach of putting the customer’s priorities at the front, whilst offering practical responses to the challenges of the digital transformation and green transition. Furthermore, this new version consolidated a two-level functional architecture with local SCADAs deployed across several sites, along with a centralized Hyper vision to provide you with centralized and secure asset management. Eventually, the deployment of these applications can reduce the end-users time and money. Consequently, these user benefits are expected to propel the SCADA market in the forthcoming years.
Based on components the market for Supervisory Control and Data Acquisition (SCADA) is expected to hold a significant share during the forecast period
Based on components, the SCADA market is segmented into Remote Terminal Units (RTUs), Programmable Logic Controllers (PLC), and SCADA Communication Systems. During the anticipated period, it is expected that the Programmable Logic Controllers segment will hold a notable share of the SCADA market. The PLC uses special programmable memory to store instructions and to implement functions like timing, sequencing, logic, and arithmetic among others to control machines or processes. Furthermore, can withstand changes in temperature, humidity, electrical noise, and vibration owing to its robust structure. Also, they can be programmed with a simple user-friendly coding language which makes it an easy and economical tool for businesses to maximize productivity. A PLC is commonly used in civil applications such as washing machines and for controlling traffic lights. Moreover, these PLCs are used in several industries to monitor and control production processes and building systems. Thus, the extensive use and benefits of the PLC systems are expected to drive the market for Supervisory Control and Data Acquisition (SCADA).
The Asia Pacific region is expected to hold a dominant share of the SCADA market during the anticipated timeframe
Based on Geography, the SCADA market is divided into North America, South America, Europe, and the Asia Pacific. Over the years, the Asia-Pacific region has become a production hub for the automation technology industry owing to the presence of manufacturing giant countries like China, India, and Japan among others. Furthermore, the major market players are companies like Mitsubishi Electric Corporation, Yokogawa Electric Co., and Hitachi Ltd., which operate their business in this region. This is another factor for the growth of the SCADA market in the Asia- Pacific region. Moreover, the increasing automation due to the rising need for high-quality products, along with rising production rates are driving the market growth. The rising industrial automation in this region is fueled further by rising investments and business expansions. Additionally, the water and wastewater sector, renewable energy sector, smart grids sector, and transportation sector are expected to drive the growth of the SCADA market in the Asia-Pacific region during the study period.
Increased Product Launches to Drive the Future Growth of Safety Relays Market
Thought ArticlesThe Safety Relays Market was valued at US$505.807 million in 2020 and is expected to grow at a CAGR of 7.43% to reach a market size of US$838.575 million in 2027. Safety relays enable the machine to either initiate or execute directions to stop the machine and assist in inspecting and monitoring a safety system. A safety relay is an easy and effective way to comply with safety regulations, ensuring equipment safety and lowering the risk of expensive mishaps or equipment replacement. When connected together, these relays tied to individual functions provide a complete monitoring system for industries. Due to the market’s extensive end-use applications across numerous end-use industrial verticals, it is anticipated to expand rapidly. In order to ensure the safety of industrial processes and workers, there are strict rules in place, such as the OSHA and Machinery Directive, which are also increasing market demand. Additionally, rising concerns regarding the safety and security of industry employees are fueling the market’s expansion.
Siemens, Rockwell Automation, Inc., ABB, SICK AG, Schneider Electric, Panasonic Corporation, Phoenix Contact, OMRON Corporation, Pilz GmbH & Co. KG, and others are a few key major players in the market for safety relays.
Siemens operations span across the sectors of automation, electrification, and digitalization. The business creates, develops, and produces products as well as installs sophisticated systems and projects. It also offers a variety of specially designed solutions for different needs. Siemens specialises in distributed energy systems, intelligent building infrastructure, and power generation and delivery. Munich, Bavaria, Germany, serves as the headquarters for Siemens. Siemens offers safety relays under the brand Sirius. Its wide range includes affordable standard devices as well as innovative safety relays with features like emergency stop shutoff, protective door monitoring, or the suitable protection of presses or punches. Siemens introduced their 3RQ1 series force-guided coupling relays in May 2021 for use in safety-related applications. The 3RQ1 series makes it possible to safely manage brakes and doors in elevators, industrial production facilities, railroad and signalling applications, and other settings.
Rockwell Automation’s products and services include supplying industrial automation power, control, and information solutions. The company provides integrated designed packages and panels, midrange architectural systems, asset and consultancy management, manufacturing intelligence, front-end design and engineering integration services, and on-machine solutions. Its offerings cover discrete control, information solutions, drive systems, machine builders, process solutions, migration solutions, motion solutions, linked and maintenance services, security solutions, and sustainable production. Rockwell Automation offers safety relays under the brand Allen-Bradley. The company’s Intelligent Devices segment, which sells safety relays, saw an increase in revenue from USD 2,956.0 million in 2019 to USD 3,311.9 million in 2020. Software Configurable Safety Relays, MSR300 Series Modular Safety Relays, Guardmaster Safety Relays, Safety Control Relays, Single-function Safety Relays with Delayed Outputs, Single-function and Specialty Relays are among the product offerings by Rockwell Automation.
OMRON Corporation produces and sells medical equipment, social systems, automation components, and electrical components. The product line of the company consists of sensors, safety components, relays, automation systems, motion and drives, switches, control components, robotics, power supplies, switches, relays, and connectors. Omron’s headquarters are in Kyoto, Japan’s Shimogyo-ku district. The company’s safety switches are employed for establishing safety circuits, detecting intrusion into hazardous places, and shutting down mechanical guards. Omron offers a wide range of safety relay products like power relays, relays with forcibly guided contacts, and magnetic contactors. On May 11, 2022, OMRON Corporation launched a new high-voltage DC relay called “G9KB” globally for large-capacity home energy storage systems. In household storage systems with increasing capacity, G9KB safely cuts off the direct current.
ABB, provides products, systems, services, and solutions for electrification, motion, and industrial automation. Its products improve industrial productivity, power reliability, and energy efficiency. ABB offers its products directly to customers as well as through third-party channel partners such as distributors, installers, wholesalers, OEMs, and system integrators. ABB offers safety relays under the brand Sentry. The company’s electrification segment, which sells safety relays, saw an increase in revenue from USD 11,564 million in 2019 to USD 12,957 million in 2020. Sentry USR10 Safety relay, Sentry USR22 Safety relay, Sentry USR10P Safety relay, Sentry USR22P Safety relay are among the product offerings by ABB.
Hydrogen Fuel Cell Vehicle Market size worth US$6,717.320 million by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Hydrogen Fuel Cell Vehicle Market – which is projected from 2020 to 2027”.
The increasing need for automotive fuel and rising fuel prices throughout the world are the primary factors driving the expansion of the Hydrogen Fuel Cell Vehicle market, which will lead to a more sustainable future.
As per the report, the market about Hydrogen Fuel Cell Vehicle Market is expected to grow at a steady pace.
A hydrogen fuel cell is an electrochemical device that creates electric current or power through reactions involving chemical gases and oxidants. Reactants employed in fuel cells provide no environmental danger because water is produced as a byproduct of the chemical interaction between them. Fuel cells create electricity by splitting the positive and negative ions in the reactant using anodes and electrolytes. Because of its great efficiency, this technique is suitable for generating direct current, which can power cars and other vehicles. The fact that this technology is incredibly sustainable in nature makes it very promising for the future.
Concerns about the detrimental impacts of emissions from automobiles driven by conventional fuels have pushed the scientific community into eco-friendly options to power vehicles. Because onboard hydrogen storage in vehicles must be stable and safe, hydrogen fuel cells are predicted to cause the next wave of upheaval in the automobile industry.
Based on product type, the market for Hydrogen Fuel Cell Vehicles is segmented into passenger and commercial vehicles. Due to the development of several commercial and passenger vehicles that use hydrogen fuel cells the market is anticipated to grow in the coming years.
Based on geography segmentation, the market for Hydrogen Fuel Cell Vehicles is segmented into the Americas, the Asia Pacific, Europe, Middle East, and Africa regions. Asia-Pacific is one of the most profitable regions for hydrogen fuel cell car producers, with enormous development potential in this industry. Japan, China, and South Korea are very profitable markets for market participants because they have the infrastructure to enable the adoption of these cars. Europe and North America, on the other hand, are early adopters of new technology, accounting for a sizable proportion of the entire market. The availability of modern infrastructure in these locations contributes significantly to market expansion in these regions. Customers are becoming more interested in hydrogen fuel cell automobiles now that enabling infrastructure is accessible.
As a part of the report, the major players operating in the Hydrogen Fuel Cell Vehicle market, that have been covered are Nikola Corporation, Toyota Motor Corporation, Mercedes-Benz Group AG, Hyundai Motor Company, Honda Motor Company, and Bayerische Motoren Werke AG.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/hydrogen-fuel-cell-vehicle-market
This analytics report segments the Hydrogen Fuel Cell Vehicle market on the following basis:
Global 3D Scanner Market size worth US$3.019 billion by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market of the “3D Scanner Market – which is forecasted from 2020 to 2027”.
The key factors propelling the growth of the 3D scanner market are the rising adoption of reverse engineering in different industries such as automobile, defense, aerospace, and manufacturing, etc.
As per the report, the 3D scanner market is projected to grow at a moderate pace throughout the anticipated period.
3D scanners are used to digitally captures the shape of physical objects using a line of laser light. To swiftly produce point clouds with a high degree of accuracy, 3D laser scanners measure minute details. When measuring and inspecting curved surfaces and complex geometries that require enormous amounts of data for an accurate description and when doing so is impractical with the use of a touch probe, 3D laser scanning is the best option. Moreover, the technological advancements and developments in the 3D laser scanner market are further expected to augment the demand for these devices during the forecast period.
The 3D scanner market has been categorized based on type, range, technology, product, industry vertical, and geography.
By type, the 3D scanner market has been classified into Laser 3D scanners and structured light scanners. Laser 3D scanners are expected to hold a dominant share in the 3D scanner market during the forecast period owing to the ease of use and availability of laser scanners in the market.
Based on range, the 3D scanner market is segmented into short-range, medium-range, and long-range. Further, based on technology, the 3D scanner market is divided into laser triangulation, laser pulse-based, and laser phase shift-based.
By product, the market is segmented into CMM-based, tripod-mounted, and others.
By industry vertical, the 3D scanner market is divided into automotive, healthcare, aerospace and defense, oil and gas, construction, energy and power, mining, and others. According to the analysts, the oil and gas segment is one of the significant end-users for 3D scanners due to their capacity to assist in the creation of a 3D ground survey for any upstream or downstream site.
Geographically, the market is divided into North America, South America, Europe, the Middle East and Africa, and Asia-pacific. During the forecast period, the North American region is anticipated to hold a considerable share of the 3D scanner market due to the significant presence of leading companies in the area that provide cutting-edge 3D scanner goods as well as the expanding use of VDI/VDE rules that specify 3D scanner characteristics.
The COVID-19 pandemic had a significant impact on the 3D scanner market due to the variety of complexities in the market. The manufacturing and automotive industries faced a huge impact owing to stringent government measures and partial or complete lockdowns imposed by the government. Henceforth, the negative impact of the pandemic on the end-user industries affected the demand for 3D scanners.
As a part of the report, the major players operating in the 3D scanner market, that have been covered are REIGL Laser Measurement Systems GmbH, Carl Zeiss Optotechnik, Topcon Corporation, Trimble Inc., Atlas Corpo, Hexagon AB, FARO Technologies, Nikon Metrology NV, and CREAFORM.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/3d-scanner-market
This analytics report segments the 3D scanner market on the following basis:
Occupancy Sensor Market size worth US$1,375.279 million by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market “Occupancy Sensor Market – which is forecasted from 2020 to 2027”.
As per the report, the market in occupancy sensor market is expected to grow at a steady pace.
An occupancy sensor is an interior motion detector that recognizes the presence of a person and automatically activates lighting, temperature, or ventilation systems. Occupancy sensors are crucial in lowering energy use. These sensors help to reduce light pollution and may be utilized in both indoor and outdoor settings. During the anticipated period, the market will be propelled forward by growing demands for power devices and the active integration of smart occupancy sensor systems. Furthermore, these sensors are used in conjunction with intelligent parking systems to monitor the state of each parking place and efficiently control traffic congestion.
Increased investment in the creation of smart homes, company buildings, industries, and cities is expected to propel the market forward over the estimated period. Furthermore, technical breakthroughs in microphonics, image processing, and smart occupancy sensors are favorably influencing the market growth.
Based on the sensor type, the market of occupancy sensor market is segmented into passive infrared, ultrasonic, and dual technology. Ultrasonic sensors detect the presence of individuals by emitting ultrasonic sound waves into the environment and measuring the speed with which they return. On the other hand, passive infrared devices contain a clear line of sight between the sensor and the space’s inhabitants.
Based on the application, the occupancy sensor market is segmented into lighting, HVAC, controllers, security, and surveillance. The HVAC segment is anticipated to hold a significant amount of share the market. Furthermore, due to the rise of the implementation of such sensors by lighting companies, the lighting segment is also anticipated to drive market growth during the projected period.
Based on the end-user, the occupancy sensor market is segmented into residential, commercial, and, industrial. The residential and commercial sectors will drive growth for the occupancy sensors market.
Based on geographical segmentation, the occupancy sensor market is segmented nose North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America is predicted to be the market’s largest occupancy sensor market. These areas have the world’s largest market for occupancy sensors for residential and commercial buildings. Therefore, due to the increasing incorporation of these sensors into this region for the growing development of residential and commercial properties, the North American region will drive growth for the occupancy sensor market.
As a part of the report, the major players operating in the occupancy sensor market, that have been covered are Leviton Manufacturing Company, Lutron Electronics, Acuity Brands, Legrand, Schneider Electric, Cooper Industries, Eaton Corporation Plc, General Electric Company, Philips Ltd, and Johnson Controls GmbH.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/occupancy-sensors-market
This analytics report segments the occupancy sensor market on the following basis:
Surface Inspection Market size worth US$5.911 billion by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market for the “Surface Inspection Market – which is forecasted from 2020 to 2027”.
The prime factors propelling the growth of the Surface Inspection Market are the rising automotive industry and the stronger government regulations put in place in the healthcare and automotive sectors.
As per the report, the market for Surface Inspection Market is expected to grow at a steady pace
Surface inspection is a non-destructive method of examining geographic features and marking purported flaws in the manufactured item. Manufacturers typically use specialised lighting systems, cameras, and a variety of equipment for accurate automatic fault detection. The automotive industry is relying more and more on highly efficient surface inspection devices to detect defects at different production stages. Surface inspection systems can detect a variety of production and material-related flaws. The automobile sector is expanding strongly in emerging markets. This market expansion is anticipated to continue and drive the market. Government-imposed safety standards and shifting consumer expectations for vehicles are both contributing to the automobile industry’s substantial expansion. These factors are likely to boost the Surface Inspection market growth.
The Surface Inspection market has been categorised on the basis of component, surface type, industry, and geography.
By component, the market has been classified based on Camera, Processor, Optics, Software and Others. Smart cameras employ image sensors to find defects in objects and surfaces. As a result, the market for surface inspection is expanding due to the rising deployment of smart cameras.
By type, the market has been classified based on 2D and 3D. Compared to 2D surface vision systems, 3D surface inspection systems are being adopted more frequently. 3D technology is employed as it offers more relevancy due to integrated optics, volumetric measurement for the position and parameters connected to forms, and convenience in building multi-sensors for large item inspection.
By industry, the market has been classified into Automotive, Healthcare, Consumer Electronics, Travel and Transport/Logistics and Others. Globally expanding automotive sales, more government regulations, and an increase in production complexity call for an effective monitoring system that reduces production errors and helps produce better-quality goods. These factors are likely to boost the industry’s growth.
Due to the expanding automotive and electronics industries, the North American area has been reported to have the highest market share. The region’s governments are enforcing a number of strict norms and regulations relating to product quality, which is driving up demand for surface inspection equipment. Hence, this region is anticipated to maintain its market dominance during the anticipated period.
Most nations implemented rigorous lockdown procedures in response to the COVID-19 pandemic to reduce the number of cases of infection that were rising. As a result, several important industries came to a halt, causing a slowdown in the world economy. There was a significant loss of revenue in the surface inspection market as a result of the slowdown in the automotive and electronics industries. However, the market has begun to revive and demand is anticipated to rise as governments begin to relax their COVID-19 restrictions.
As a part of the report, the major players operating in the Surface Inspection market that have been covered are Baumer Inspection, AMETEK, Isra Vision, Omron Corporation, Cognex Corporation, Adept Technology, Edmund Optics, Teledyne Technologies, Matrox Imaging.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/surface-inspection-market
This analytics report segments the Surface Inspection market on the following basis:
A Golden Key for Heart Health: Beta-Glucan
BlogThe beta-glucan market is evaluated at US$370.313 million for the year 2020 growing at a CAGR of 7.16% reaching a market size of US$600.982 million by the year 2027.
According to the National Cancer Institute, Beta Glucan is a substance that is found in bacteria, plants, and certain foods such as baker’s yeast, mushrooms, cereal grains, etc. Beta-Glucan is made of a string of glucose molecules joined together. It is a type of polysaccharide that may stimulate the immune system and help in killing cancer cells. It offers numerous benefits such as improvement in cholesterol levels and improvement in heart health. The growing product demand in functional food and animal feed applications is expected to be a key driving factor for the beta-glucan market during the forecast period.
The key factors driving the growth of the Beta-glucan market are its health benefits, the rising number of patients with chronic heart diseases, and the growing trend in personal health during the forecast period.
The beta-glucan offers numerous health benefits to the human body. It is a soluble fiber readily available from oat and barley grains which has multiple functional and bioactive properties. According to Harvard University’s The Nutrition Source, the beta-glucan in oats has the ability to help slow digestion, suppress appetite, and increase satiety. Furthermore, beta-glucan can help in throwing the cholesterol out of the body by binding the cholesterol-rich bile acids in the intestine and transporting them through the digestive tract. Moreover, beta-glucan fiber can also help in preventing a sharp rise in blood sugar and insulin levels after eating a meal and may benefit gut health. These health benefits are expected to propel the market for beta-glucan in the upcoming years.
Additionally, the increasing cases of chronic heart diseases due to limited physical activities, unhealthy diet, hypertension, high cholesterol, and obesity among others are giving rise to the demand for healthy alternatives such as beta-glucan. As per the Centers for Disease Control and Prevention, in the United States of America, about 679 thousand people died from heart disease in 2020. Furthermore, the World Health Organization also reported that cardiovascular diseases are the leading cause of death globally. It is estimated that every year cardiovascular diseases take 17.9 million lives each year. Hence, it is evident from the data that heart diseases are becoming a matter of concern. Therefore, to tackle this issue the world population has shifted its focus toward personal health. The prime concern of the global population has become the prevention of disease rather than after-treatment medication. Henceforth, the global population is moving toward innovative products, especially under the nutritious segments, which is expected to propel the demand for beta-glucan in the market.
Owing to mushrooms’ wide applications, its demand is expected to surge rapidly.
On the basis of the source, the beta-glucan market is segmented into cereals, mushrooms, yeasts, and others. As per the analysts, the mushrooms are expecting rapid growth during the forecast period. Furthermore, the health benefits of mushroom-derived beta-glucan, such as high-protein, vitamin, and fiber content along with low cholesterol, fat and carbs are positively benefiting the growth of the beta-glucan market under this segment. Additionally, the anti-allergic, anti-cholesterol, and anti-tumor qualities of mushrooms further support the health-conscious purchase patterns of consumers. The soluble fiber in mushrooms also helps to prevent cardiovascular disorders which makes them a beneficial food option for pharmaceutical and nutraceutical purposes. The beta-glucan market may experience further growth because of the expanding use of Shiitake mushrooms to increase mucosal barrier resistance to inflammation and stop the development of intestinal ulcers.
The beta-glucan market is anticipated to be significantly dominated by the cosmetics and personal care sector.
The beta-glucan market is divided into food and drink, cosmetics and personal care, pharmaceuticals, and other categories based on application. The rising awareness of the benefits of beta-glucan in the personal care industry coupled with rising disposable income has bolstered the demand for beta-glucan in this segment. Oats-derived beta-glucan is used as a component in cosmetic products made by the personal care and cosmetics industries. Furthermore, beta-glucan assists in skin layer exfoliation and offers protective characteristics which aid in skin texture restoration. It is the best ingredient for cleansers, lotions, and moisturizers because of its skin-moisturizing qualities and antibacterial function. Henceforth, these benefits of beta-glucan in the cosmetics and personal care segment is expected to support the market growth during the forecast period.
According to analysts, the Asia-Pacific region is expected to witness positive growth during the forecast period.
Based on Geography, the beta-glucan market is divided into North America, South America, Europe, and the Asia Pacific. Geographically, the Asia-pacific region is predicted to acquire a notable share within the beta-glucan market. that can be primarily attributed to the presence of colossal industry bases in countries like China, India, and Japan. Furthermore, the changing lifestyle, growing economy, and a gradual shift towards natural products are witnessed in developing countries like India, and China. The demand for beta-glucan extracted from different raw materials is expected to surge in the forthcoming years. Such a shift towards healthy nutritional diet practices can be traced back to the importance of personal health, physical wellness, and health-conscious decision-making consumer behavior. Additionally, the low cost of labor and raw materials coupled with increasing demand is a key factor in supporting the growth of the beta-glucan market in the Asia-Pacific region.
COVID-19 Insights
The outbreak of COVID-19 had a significant impact on the beta-glucan market. Owing to the rising need to attain protection from the contamination of the virus, the world population shifted its focus towards more healthy alternatives. As a result of rising health awareness, the demand for nutritious food rose amid the global pandemic. Moreover, the need for a strong immune system to fight off the virus bolstered the demand for immune boosters and nutritious food during this period. However, the imposed lockdowns and social distancing measures across the globe led to partial or complete shutdowns of manufacturing units. Consequently, the supply of beta-glucan was hindered owing to issues like demand and supply chain gaps, and slow market growth during the pandemic.
Company Expansions and Product Offerings in the Safety Switches Market
BlogThe safety switches market is anticipated to grow at a CAGR of 8.52% to attain a market size of US$3.062 billion by 2027, from US$1.728 billion in 2020.
A safety switch is a device that instantly turns off the electrical supply to reduce the possibility of electricity-related fires, shock, injury, or death if a defect is detected. There are several sorts of safety switches, each with its function and level of protection. Additionally, technological advancement has increased the number of production units equipped with heavy machinery. The expanding economies of developing and emerging countries are offering chances for the establishment of new manufacturing facilities. As a result, the requirement for safety switches for use in manufacturing facilities is expected to rise throughout the forecast period. Because of technological advancements, the demand for heavy equipment manufacturing facilities is increasing. The booming economies of many emerging and developing nations are creating opportunities for the construction of new production facilities and industrial plants. As a result, the global demand for safety switches is booming. Furthermore, the demand for a safer working environment drives the demand for safety switches. These safety switches are critical for the safe and effective operation of hazardous locations including industrial facilities, offshore drilling, petrochemical and waste sewage treatment, paint studios, and toxic waste processing facilities. Therefore, all these factors will contribute to the development of the safety switch market segment in the upcoming years.
Due to the rise of the end-user industries, the market for safety switches will grow
The rising use of safety switches in sectors such as food and beverage, mining, and automotive is driving market expansion. Furthermore, the advent of energy-efficient and environmentally friendly systems is boosting sales of these switches. The expansion of numerous end-use sectors, including oil and gas, medical, chemical, food and beverage, and so on, is also positively impacting the need for safety switches. Other important reasons influencing the market include increased automation in dangerous industrial sectors, growing preference for non-contact gate switches, rising urbanization rates, technical developments and upgrades, and so on. The requirement and flexibility of usage in a broad variety of applications, increased demand for safer equipment, downsizing of devices, and industrial safety regulations are the main drivers driving the expansion of the safety switches market. Personnel ranging from manufacturing workers to engineers operate on automated production equipment. This broad range and growing automation demand goods from a variety of end-user sectors such as food and beverage, petroleum and natural gas, healthcare, aerospace, and so on.
Furthermore, worker fatalities in commercial buildings or industries motivate the installation of safety switches.
The International Labor Organization (ILO) estimates that over 2.3 million people die each year as a result of occupational diseases or accidents, or over 6000 people every day. The market for safety switches will grow in the coming years as energy efficiency and power management needs rise across several industries, and the cost of active controller parts falls. Despite this, there is an increasing need for safety switches as a result of the growth and popularity of electric cars, which has resulted in the establishment of EV charging stations throughout the world. For instance, in June 2022, Eaton reinvests in the Triangle region of North Carolina to fulfill rising customer demand for sustainable data centers and EV charging infrastructure. This move enables Eaton to meet growing client demand for data center management technologies and EV charging infrastructure solutions.
Major Developments made by companies will surge the market’s future profitability
Several companies have launched new product range along with broadening their markets by entering collaborations that have significantly impacted the safety switch market. As a result of the company’s expanding operations and productivity, the implementation of safety switches will increase. For instance,
According to analysts, the North American region is expected to occupy a notable share of the market in the coming years.
Due to the rise of the automotive and manufacturing sectors in the Asia Pacific, the market for safety switches is anticipated to rise in the coming years. Furthermore, the developments made by the companies and the incorporation of safety switches into various product offerings will additionally boost the market’s profitability in the future. For instance, in September 2022, in Bengaluru, New Holland Agriculture, a brand of CNH Industrial, debuted the Blue Series SIMBA and its foray into the sub-30HP small tractor category. It has a neutral safety switch and a differential lock, which allow the tractor to be maneuvered safely and easily in any weather and on any terrain.
The Surge in the Industrial Radiography Market
BlogThe industrial radiography market is predicted to grow at a CAGR of 6.45% during the forecast period to reach US$939.316 million by 2027, from US$606.399 million in 2020.
Industrial radiography is a type of non-destructive testing technique that ionizing radiation for the inspection of materials and components to track down and quantify abnormalities and degradation in the material characteristics that can cause the failure of structural components. It is extremely critical to the science and technology that are required to ensure the quality and reliability of the product. This modality exploits the characteristics of X-rays, neutrons, and gamma rays to penetrate numerous amounts of materials. Industrial radiography finds usage in a broad range of applications right from the maintenance of aircraft to food inspection, casting parts, counterfeit drug control, welding, composite piece inspection, and coating thickness measurement, among others. The burgeoning demand for industrial radiography in sectors like manufacturing, automotive, power generation, and aerospace is projected to drive the market growth substantially. The industrial radiography market landscape is segmented into various applications, types of imaging techniques, and geographical regions.
Growing demand for industrial radiography methods in a plethora of industries to drive market growth
Non-destructive industrial radiography methods are increasingly being employed and thus, have progressively evolved as a critical tool owing to their versatile range of applications in a wide range of industries. From quantifying, qualifying, and inspecting malfunctions and anomalies for the access of internal and external geometric features, industrial radiography has a plethora of applications based on the size, type and also, the inspection criterion for the materials. Examples of these applications include preproduction qualification during manufacturing, structural integrity analysis and packaging in the packaging industry, ballistics in the automotive sector, and stints in medical devices. The rising number of nuclear power plants is also a factor contributing to the inclining demand for industrial radiography. In accordance with the Nuclear World Organisation, there are around 441 operable nuclear power reactors across the globe, as of May 2022. Furthermore, approximately 53 reactors are currently under development, while 325 more are currently under proposal.
The strategic developments undertaken by key players to meet the soaring demand for the industrial radiography market and improve their brand presence are further catalyzing the growth of the market. For instance, North Star Imaging in June 2020, relocated its X-ray inspection business to a new and larger site in California. The new site was reported to be equipped with a huge space and warehouse, and also, an X3000 and two X5000. The latter two devices aid the new facility in scanning objects, from micron-sized objects to objects that are as huge as a 50-gallon barrel. Another example of this is the launch of a high-energy CT scanner in December 2020, by Wagayate Technologies, which is a global leader in inspection solutions. This CT system, Phoenix Power Scan HE, could scan and detect internal attributes of very high-density critical components. The 9 MeV machine measures about 2 meters in diameter and height.
North America and Europe are expected to hold a dominant share of the market
Geographically, this market is segmented into North America, South America, Europe, the Middle East, Africa region, and the Asia Pacific region. The robust growth of the aerospace and automotive industries promises high demand for industrial radiography in the regions. The growth in the North American and European regions can primarily be attributed to the presence of some of the largest aerospace segments in the United States and the United Kingdom. Further, Mexico and Germany are known to house a large number of automotive giants. The rising concerns regarding the environment and the strict rules and regulations being deployed by the governments in order to decrease the consumption of non-renewable resources are some factors contributing to the rising demand for industrial radiography techniques in power plants. This further adds fuel to the growth of the industrial radiography market in these regions. The growing developments in some countries like China, India, as well as Japan are rapidly propelling the growth of this market in the Asia Pacific region. The presence of industry giants like COMET Group, FunjiFilm Holdings, and General Electric in the above-mentioned regions is further expected to drive market growth.
Factors restraining growth
Factors like high deployment costs along with the risk of extremely high radiation exposure associated with the growing use of industrial radiography are likely to slow down the growth of the market. Further, the lack of skilled human resources is anticipated to be another factor that could impact the industry unfavourably. Owing to the high technical requirements, it is a challenge to find and train people that are well suited for employment, thus posing a constraint on market growth.
The impact of COVID-19 on the Industrial Radiography Market
The outbreak of the COVID-19 pandemic affected the industrial radiography market very negatively. Most of the manufacturing industries across the world had to temporarily close down due to the nationwide lockdowns that were mandated across multiple countries. Further, the surge in the number of active cases and the social distancing measures resulted in reduced staffing, which led to a reduction in productivity. The recession in the global economy caused due to the pandemic forced many companies to pause all their ongoing projects. Due to all these factors, the demand for the industrial radiography market went down because of the outbreak of the coronavirus.