The human-machine interface market was valued at US$4.539 billion in 2021 and will increase to US$6.947 billion by 2028. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 6.27%.
The Human Machine Interface (HMI) is a progressive dashboard or interface that allows users to engage with machines, systems, or devices. For smooth functioning, the technology aids the conversion of human instructions into machine language. HMI technology also enables operation from remote locations, ensuring worker safety. The demand for the human-machine interface is increasing as factory automation, technology needs, smartphones, tablet, and computer users expand. Analysts estimate that the global human machine interface market is likely to rise at a promising rate over the forecast period.
The numerous advantages of HMI technology in industrial applications will be the driving force behind the market’s robust growth over the forecasted timeframe.
During the anticipated period, the market would experience strong growth due to the growing implementation of HMI technology in daily industrial operations. The technology permits the visual presentation of data, production tracking, monitoring machine inputs and outputs, and operation from a remote place, among other activities, in an equipped industrial setup. In addition, HMI visual screens enable the display of real-time graphic data via sophisticated software, allowing for greater analysis and decision-making. The system connects PLCs via HMI screens for real-time communication, removing the necessity for operators to commute and maintain manual records on paper or boards. As a result, the technology is being adopted by a variety of industries. Manufacturing, energy and electricity, transportation, water and wastewater, oil and gas, utilities, automotive, healthcare, consumer electronics, and others are the end-user industries in which the HMI market is categorized. In the manufacturing, energy and power, oil and gas, pharmaceuticals, and food and beverage industries, the use of HMI has resulted in increased productivity, fewer accidents and hazards, and the potential to cut costs and take advantage of economies of scale. Increased market prospects for HMI technology are aided by strong growth in these industries.
Analysts strongly anticipate that the advent of HTML5 and IIOT (industrial internet of things) is expected to enhance the market over the projection period. End users will benefit from HTML5 and IIOT, which will make it easier for them to use new software packages and enable the monitoring of equipment and machinery across industries. Alarm alerts, safe messaging, and improved internal communications are expected to give a facility a competitive advantage in terms of operations, security, and productivity. Moreover, HMI is expected to cut operating costs by replacing different push buttons, indicator lights, and selectors, as well as reducing the need for additional display panels and wires. Furthermore, the expansion of the oil and gas, as well as the energy and power industries, will create new prospects for growth. New oil fields being discovered in the Middle East and Africa, as well as an increase in renewable energy and power projects, will open up new possibilities.
Increased demand for HMI technology will be fueled by soaring growth in the consumer electronics and automotive industries as a result of rising global average disposable income. The introduction of more user-friendly interface devices will bring market stability to the HMI business as a result of innovation and technological advancement. In addition, rising investment in the healthcare and water and wastewater treatment industries would expand the market’s opportunities.
HMI technology’s market expansion could be hindered by security concerns and personnel shortages.
Factors like the growing requirement to adapt business processes to incorporate HMIs, as well as significant upfront capital, may have a negative impact on market growth. In addition, a lack of familiarity with HMIs among management and lower-level employees, as well as a scarcity of qualified professionals, may limit the industry’s growth. For successful functioning, the technology necessitates a skilled team. The organization’s activities are hampered by a lack of skilled workers or the insufficiency of existing employees. The HMI technology’s scope also includes data processing, transfer, and maintenance. Effective systems are required to retain and analyze a massive amount of data, which raises the organization’s costs.
While the technology allows people to access data from anywhere on the globe, it also gives the user access to critical information. In a company setting, the loss of key data can hinder operations and result in significant losses. Furthermore, viruses and hackers might attack HMI technology, causing the organization’s operations to be disrupted. While the burgeoning Internet of Things (IoT) offers promising growth opportunities, it also poses a number of industry problems.
During the projected period, the automotive industry is expected to grow rapidly in the HMI market.
By End-User Industry, the human-machine interface market can be segmented into automotive, food and beverage, packaging, pharmaceutical, oil and gas, metal and mining, and others. Among several end-user industries, the automobile sector is likely to occupy a substantial share. The presence of some significant producers, as well as increased consumption, drives the global market value. In the European Union, for example, registrations of alternatively powered vehicles have gradually climbed by 46.2%. By July 2019, 110,630 electric vehicles (EVs) had been registered, up 51.8 percent from the previous year. Vehicles nowadays are equipped with several HMI systems, which necessitate the coordination of several device-specific operating systems.
In January 2020, the DENSO Corporation and Qualcomm Technologies, Inc. announced a collaboration to develop next-generation cockpit technologies. Due to enhanced driver aid capabilities using cameras and sensors, as well as different entertainment functions, the amount of information delivered by a car to the driver has expanded in recent years. Human-machine interfaces play a critical role in giving updates to drivers quickly, productively, and safely while avoiding distractions, thanks to these changes for vehicle-driver communication. This technique is made feasible by the collaboration of multiple HMI components, including the instrument cluster, in-vehicle multimedia, and the Head-Up Display.
During the forecast period, the HMI markets in North America are predicted to have a dominating share, followed by Asia-pacific and the Middle East.
The human-machine interface market is classified into five regions based on geography: North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. Because of the region’s superior infrastructure and rapid adoption of advanced technology, the North American HMI market is expected to hold a major share over the estimated period. In addition, the Asia Pacific is expected to grow rapidly over the next few years. This may be due to the relocation of industrial operations to developing nations in order to take advantage of lower labor costs and greater raw material availability. In this region, China and Japan are regarded to be the equipment production centers for the human interface machine. Manufacturing has also emerged as one of India’s fastest-growing industries. The ‘Make in India’ plan establishes India as a worldwide manufacturing base and gives the Indian economy major respect. India’s manufacturing sector is predicted to reach USD 1 trillion by 2025, according to the Indian Brand Equity Foundation.
The market’s expansion is aided by the Middle East region’s expanding oil and gas sectors. The development of new oil and gas fields in the area will present various prospects for expansion. Furthermore, the industry will benefit from infrastructural development and the construction of water and wastewater treatment plants. Surging demand for consumer electronics and the automotive industries, on the other hand, will drive market expansion in the Asia Pacific area. Manufacturing industry operations are booming, and technological advancements are advancing at a rapid pace, ensuring steady growth. Increased investment in healthcare and infrastructure broadens the market’s scope.
Covid-19 Insights
The coronavirus outbreak has a moderate influence on the HMI market. While increasing investment in the healthcare and pharmaceutical sectors raised market demand for the HMI industry, a stop in economic activity as a result of containment efforts taken to disrupt the virus’s cycle reduced demand for various other businesses.
Human Machine Interface (HMI) Market Scope:
| Report Metric |
Details |
| Market Size Value in 2021 |
US$4.539 billion |
| Market Size Value in 2028 |
US$6.947 billion |
| Growth Rate |
CAGR of 6.27% from 2021 to 2028 |
| Base Year |
2021 |
| Forecast Period |
2023 – 2028 |
| Forecast Unit (Value) |
USD Billion |
| Segments Covered |
Component, Screen Size, End-User Industry, and Geography |
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered |
Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation, Schneider Electric, ABB, Siemens, Honeywell International Inc., General Electric, Yokogawa India Ltd., Kontron S&T Group |
| Customization Scope |
Free report customization with purchase |
Growing Trend for Probiotics Food
Thought ArticlesThe probiotics market is expected to grow at a compound annual growth rate (CAGR) of 12.06% to attain a market size of US$110.496 billion by the end of the analysis period, 2026. The market was valued at US$49.782 billion in 2019.
The increasing health consciousness of people and nutrient properties of probiotics are the prime factors driving the market of probiotics. Probiotics are bacteria, which has a good impact on health and the body when it’s consumed insufficient amount. The reports and analysis of WHO (World Health Organization) claim that probiotics are a source of good nutrients and bacteria that improve the overall health of the human body. Probiotics are also good for the gut health of both humans and animals equally. The government and National nutrient agencies are nowadays also supporting and promoting the use of probiotics in the diet as it helps for good health development.
The increasing trend of health consciousness and increasing demand for dietary supplements are potentially boosting the growth of the probiotics market.
Probiotics are proven for their improved gut health and preventing digestive problems by modern researchers. Improved gut or intestinal health will also forecast to good and proper absorption of nutrients and provide good health. Probiotics also show properties such as reducing inflammation, strengthening the immune system and also prevents several diseases. The formation of patches and wounds in the intestines are mainly due to the acidity problems or excess oxidation rate that taking place in the intestine. Probiotics are an exact solution for preventing the excess oxidation rate taking place in the gut and protect proteins and lipids from destruction. The action of good bacteria in probiotics also aids for the destruction of harmful pathogens. The change in food pattern and increased consumption of ultra-processed foods are leading to digestive and intestinal problems in people. According to WHO (World Health Organization), about 75% of world total population are facing the problems of lifestyle diseases. The rise of lifestyle diseases has increased the health consciousness of people to a certain extent. The rising health consciousness of people are boosting the demand for probiotic food and health supplements in their diet.
Probiotics also provide some essential nutrients and minerals, which makes them a strong factor in health and dietary supplements. The need and demand for health supplements are boosting in the world, probiotics as a natural health supplement, which can boost the immunity is conquering the peaks of market growth. The recent researchers in probiotics point to the data such as probiotics are also a super component that can boost the immunity level of body. The impact of COVID-19 had brought out the need for good immunity and health. The characteristic property of probiotics boosting the immune level of the human body is hiking the growth of probiotics in the health and dietary supplement market.
Probiotics are now actively assessed in the case of mental health and mental illness. Probiotics is also showcasing good results and improvements using it for diagnosing mental illness and neurological disorders. According to the reports of WHO the mental illness and disorders has been tremendously increased after the post-COVID strike. A growing percentage of 13% can be seen on the mental health conditions of people from last the decade. The positive effects of probiotics in diagnosing mental health and illness is uplifting the qualities and use of probiotics as an effective health supplement.
Usage of Probiotics as Animal Feed and for Agriculture Growth
Probiotics is also widely used as an animal feed. Depending on the good useful effects of probiotics, its widely used as an effective animal feed especially for cattle’s. Intestinal disorders and gut problems are one of the major problems faced by cattle’s and farmers engaged in cattle farming. The reduction of gut problems by the usage pf probiotics as a cattle feed is increasing the demand of probiotics in cattle farming and the agriculture sector. FAO (World Food and Agriculture Organization) states that cattle effected by gut problems are facing more than 50% mortality rate. The properties of probiotics as providing intestinal health on cattle’s makes it more of a need in the animal feed market.
The Segments of the Probiotic Market
Based on application probiotic market is Mainly segmented into 3 such as used in functional food and beverages, dietary supplements and as animal feeds. Aiding to the growing health consciousness and health field, the probiotic market is showing tremendous growth in health and dietary supplement’s market. The positive impact of using probiotics as a cattle field is also bringing developments and growth in the agriculture sector. The usage of probiotics as beverage foods and functional food are the less employed field compared to the other two.
By the type of end-user, the probiotics market is classified as human probiotics and animal probiotics. Probiotics are employed for the use in humans as a dietary supplement and food additives and probiotic as used animal feeds and medicines.
By the type of ingredients, bacteria and yeast are the major types in which probiotics is used. Segmentation by function prefers for the use of probiotics as regular food supplement and in which its used as a healthcare supplement. Probiotics are also employed for therapeutic sessions also.
By type, probiotics market is segmented as lactobacillus, streptococcus, bifidobacterium, spore former, and others. The major types in probiotics are utilized.
By geographic regions probiotics market is segmented as North America, Asia Pacific, Europe, South America, Middle East and Africa. Asia Pacific witnessed highest market growth.
Coronavirus Pandemic Analysis
The analysis report also provides a deep study about the impact of the coronavirus on market for probiotics, The lockdown and isolations had severely affected the manufacturing and production of probiotics in the market. The probiotic market also witnessed tremendous market growth as consumers purchased health-related products in abundance to protect themselves from the coronavirus. The pandemic impact has resulted in the strong and robust market growth of probiotics in the global market. The probiotic market witnessed the highest growth as health supplement and dietary supplement increased the total demand of probiotics worldwide.
Probiotics Market Scope:
Remote Patient Monitoring- An Advanced Solution for a Hectic Life
BlogThe remote patient monitoring market is expected to reach US$85.031 billion by the end of 2026, increasing from US$20.027 billion in 2019, and growing at a CAGR of 22.94% during the forecast period.
Remote patient monitoring (RPM) is a healthcare delivery method that uses the recent advances in information technology to get insight into patients’ health-related data outside of traditional healthcare settings moving it into the patients’ house, workplace, and other convenient places. According to Care Innovations, RPM uses technologies to build a bridge between where the people wish to stay every day and the traditional physical healthcare settings. Some of the remote patient monitoring devices despite being advanced in technologies are sleek, consumer-friendly personal tech devices. These devices are used to monitor and examine physiological parameters such as heart rates, pulse rates, blood oxygen level, blood pressure, vital signs, and blood sugar level which were measured at the hospital or clinics, but now can be monitored remotely at any place as the patient can carry it.
Some of these devices resemble tablets or even smartphones. As people are more comfortable with the usage of smartphones, the appearance of RPM devices is so easy to handle by the patients. Thus, this makes it more comfortable for patients in handling the devices and so to manage their health by themselves. More the comfort more is the use of RPM device which will help the patient to improve their health quality. In addition to this, due to the continuous streaming of the patient’s health data, even the doctors or clinicians also can understand and manage their patient’s health situations on daily basis. This improves the quality of life.
The Rising Decrepit Population and Chronic Diseases Increase the Need for Patients’ Regular Examination
The average age of the population of many countries is increasing. But the health conditions of this population are a matter of care. The growth in this population is creating a need for long-term care services and boosting the demand for healthcare. Governments and the healthcare system are working to enhance its healthcare facilities to the doorsteps. Remote patient monitoring can bridge this requirement. It enhances the healthcare facilities and overall reach of healthcare with a reduction in unnecessary visits, time, and cost consumption as the hospital admissions and readmissions can be saved. Moreover, it also reduces the cost of traveling to the doctor or healthcare professionals for minor check-ups. Remote patient monitoring devices allow predictions of aggravation and exacerbation.
According to a report provided by World Health Organization in December 2020, the top three causes of death worldwide are Ischaemic heart disease at the first position, Stroke, and Chronic diseases being the third highest cause. The death percentage due to these three factors are 16%, 11%, and 6% respectively. On the account of this, a serious focus is required to give on the examination of heart-related diseases. Chronic care alone costs around 75% cost of the total healthcare management. Many chronic diseases such as cancer, diabetes prove dangerous merely due to undiagnosed as the conditions are hidden and symptoms are not noticeable. Therefore, even health professionals do consider the regular whole-body check-up. Moreover, increase in the threat of such diseases people too prefer regular and instant monitoring of body changes for themselves and their loved ones. RPM proves to fulfill this demand rapidly without giving any side effects or threat of syringes. And monitors the patient in their comfort zone as many patients avoid regular check-up due to the feeling of discomfort in healthcare centers.
Rising Heart Problems in the Young Generation
Due to the rapid urbanization and change in lifestyle, there is growth in the undiagnosed patient population, increasing the risk of chronic diseases such as diabetes, cancer, and cardiovascular disorders. Due to hectic lifecycle even, the young generation is suffering from the health issues such as high or low blood pressure. Thus, to keep maintain the quality of life, a regular bp check-up requires. To avoid daily visits to healthcare centers or hospitals, individuals prefer carrying remote patient monitoring devices. This allows individuals to manage their health in terms of fluctuations in blood pressure and continue their day-to-day activities as well. Therefore, along with the geriatric population, the demand for RPM is increasing from the young generation too.
Factors Restricting the Growth of the RPM Market
Rapid patient monitoring devices being an example of advanced technology do not possess affordable prices. Therefore, not every diseased person can make use of it. There is even a lack of knowledge regarding RPM and its use in any part of the world. Thus this lack of familiarity with new technologies from both patients and medical professionals hinders the reach of such devices. Moreover, not all aged patients get comfortable using advanced devices. They prefer sticking to the traditional ways of medical or health examinations. This creates an obstacle to the growth of remote patient monitoring market in this age group. Moreover, an increase in fraud in the healthcare sector is also one of the serious factors to restrict the demand for RPM or which proves to degrade the image of remote patient monitoring devices.
North America to Hold the Largest Share in the Global Remote Patient Market
The North American share in the global remote patient monitoring market has been expected to increase in the coming years. This was due to the early adaption of advanced technology from the countries like the United States and Canada. And due to the increase in the number of patients with chronic diseases, deaths due to strokes, the demand for RPM is predicted to increase in the future. The initiatives have been taken from the healthcare sectors to reduce the expenditure on healthcare; in the account of the same, the use of RPM is expected to be prescribed by the doctors. Moreover, an increase in the geriatric population is also one of the leading factors in rising RPM demand.
COVID-19 insight
Due to the outbreak of a pandemic, the population is growing their health consciousness. The threat of chronic diseases, maintaining the social distancing, need for quarantine during this period are some of the reasons behind the increase in the RPM demand. Therefore, COVID-19 had a positive impact on the RPM market.
Remote Patient Monitoring Market Scope:
Rising Growth of Carbon Fiber Reinforced Plastic (CFRP) Market
Thought ArticlesThe global carbon fiber reinforced plastic market is estimated to grow at a Compound Annual Growth Rate of 7.76% from UD$20.553 billion in 2019 to UD$34.690 billion in 2026.
Carbon fiber reinforced plastic which is also named carbon fiber reinforced polymers are composite materials with strong and lightweight fiber-reinforced plastics which contain carbon fibers. They provide high rigidity and a high strength-to-weight ratio. Due to its properties, it is used in aerospace, automotive, sports equipment, superstructures of ships, and other technical appliances. For instance, 52% of Airbus A350 XWB has been built by carbon fiber reinforced plastic. This includes its fuselage components and spars. Whereas Boeing 787dreamliner aircraft is built with 50% carbon fiber reinforced plastic. It is also used in sports cars. For instance, Formula one was made by using some proportion of carbon fiber reinforced plastic.
Rising demand and improvements in the aerospace industries are expected to drive the carbon fiber reinforced plastic’s market
The carbon fiber reinforced plastic is composed of two materials namely, reinforcement and matrix. The reinforcement is carbon fiber, whereas the matrix is a polymer resin. This composition gives extremely high strength to the applied material. The aerospace industry gives priority to strength while manufacturing aircraft. Similarly, the aerospace industry prefers high performance with lightweight and strong rigidity. CFRP also reduces the fuel economy by 30% in aircraft. Due to the unique feature of carbon fiber reinforced plastic of having a high strength-to-weight ratio and high stiffness, it is more commonly referred to as a replacement for alloys and metal in manufacturing by the aerospace industry. Due to the satisfactory performance of carbon fiber reinforced plastic used aircraft in Boeing aircraft, it has decided to manufacture mores such aircraft in future.
Recently, Boeing has announced to deliver 32,270 units of narrow-body aircraft globally during the forecast period. Global aircraft production is expected to grow rapidly in upcoming years. The global aircraft fleet volume is estimated to grow during the next ten years. This will surely have a positive impact on the market size of the carbon fiber reinforced plastic market globally during the same forecast period. Similarly, there are advanced improvements in the field of defense with the increase in its budgets. This is also expected to make use of carbon fiber reinforcement in weapon manufacture. Owing to these factors it has been estimated that aerospace and defense to drive the carbon fiber reinforcement market globally in the upcoming years.
The restraining factor for the CFRP market growth
Carbon fiber reinforcement plastic being a composite material is a very expensive material. Thus is most likely used in the aerospace industry. Although it is very beneficial in the automotive and civil engineering field, its high cost restricts its usage in these areas. This hinders the demand for CFRP from these and other sectors as well. The cheap-rated materials act as a substitute for carbon-fiber-reinforced plastic. Moreover, the production of CFRP takes a comparatively longer time with the high technical skills required. Thus, inadequate production skills and capacity are also expected to create an obstacle in the global carbon fiber reinforced plastic market.
Asia-Pacific is estimated to hold a significant share in the CFRP market during the forecast period
On the account of the widespread adoption in the aviation, industrial, and automotive sector in Asian countries like China, India, and Japan, the demand for Carbon fiber reinforcement plastic (CFRP) is rising here. This has paved the way for Asia-Pacific to dominate the CFRP market during the forecast period. China is experiencing a rise in air traffic for the last few years. Due to the high demand for better air connectivity and power, the aircraft market is expected to grow in China. At the same time, China is also working on the improvement of its defense sector. To improve the quality of defense weapons, the requirement of carbon fiber reinforced plastic is expected to rise. This eventually is estimated to increase the market size of the carbon fiber reinforced plastic market during the forecast period.
The automotive production industry in China is one of the largest in the world. Despite the decline in its automotive industry for the last few years since 2018, the strategies by major key players are working to overcome this loss. To increase the strength of the automotive, the use of CFRP is expected to rise in China. This increasing demand for Carbon fiber reinforcement plastic in China is estimated to have a noticeable impact on the CFRP market in the future.
Recent advancements in the Carbon fiber reinforcement plastic market
Mitsubishi Chemical Corporation in December 2020 announced the planning of the establishment of a new pilot facility in Fukui Prefecture for carbon fiber reinforcement plastic (thermoplastic). This plant is expected to start operating by the end of the year 2021.
In November 2021, Nikkiso Co., Ltd which is situated in Japan, has announced to expand its Busan Korea Facility to hold a marine center. This expansion is done for the growth of the shipbuilding industry. The growth in this sector is expected to grow the demand for carbon fiber reinforced plastic.
Whereas emerging technologies like plasma oxidation and HP-RTM have enhanced the reduction in the raw material cost. And the trends of the reuse of CFRP and reduction in the cost of carbon fiber have also brought opportunities for the wide applications of Carbon fiber reinforcement plastic.
COVID-19 impact on the carbon fiber reinforcement plastic (CFRP) market globally
Due to the outbreak of Covid-19, nearly all the industrial sector faced shut down for almost a year. Restrictions imposed on the social life, there was a halt in the manufacturing and supply activities. This impacted the economy of various industrial sectors. Majorly the CFRP is used for the aircraft manufacturing process. During the Covid-19 period, air connectivity was the foremost sector that was affected as many flights went to a halt and many of them were cancelled all over the world. Thus covid-19 had a severe negative impact on air connectivity therefore this eventually affected the aircraft market globally. The negative impact on the aircraft industry indirectly affected the carbon fiber reinforced plastic market. Thus there was seen a decline in the global carbon fiber reinforced plastic market. However, by the end of 2020, when the air connectivity came at the normal pace, and to overcome the previous loss, many initiatives have been made to build strong aircraft with advanced technology. This advancement and activities by governments of many countries worldwide and market players are estimated to uplift the aircraft market. This is the factor that is expected to contribute to the growth of the carbon fiber reinforced plastic market in the future.
Carbon Fiber Reinforced Plastic (CFRP) Market Scope:
Growing Opportunities for Global Laser Cleaning Market
Thought ArticlesThe laser cleaning market is expected to grow at the Compound Annual Growth Rate of 5.72 %. It was valued at US$596.216 million in 2019 and is expected to reach a market size of US$880.043 million in 2026. Due to the unique feature of laser cleaners of accuracy, it is preferred more over the traditional cleaning methods.
Laser cleaning is a technology of cleaning a surface by sending nanosecond-length pulses of laser. When the tool emits the laser light on the contaminants on the surface, they either free the particles from the surface by exerting pressure or due to the absorption they turn the contaminants into gas. It physically removes the contaminants such as rust, rubber, carbon, and silicon off the surface. The innovations in laser technology make it more durable and less time-consuming. The laser cleaning tools also keep the surfaces unaffected. There are specifically two types of laser cleaning tools; they are – solid lasers and gas lasers. They are used in the cleaning process of aircraft, automotive parts, aerospace, and other delicate surfaces. The laser cleaners are also useful for the restoration and conservation process.
Increasing Use of Laser Cleaning in the Industrial Sector Is Expected to Drive the Market
Laser cleaning can be performed over delicate surfaces without harming the surface. At the same time, it can also clean the parts of huge machines which are difficult to clean by the bare hand or by traditional cleaning methods. Moreover, the traditional cleanings methods can sometimes harm the machines in the industries which may make the machines and equipment dysfunctional; this can be a great economical loss for the industry. Thus, to avoid this, the industrial sector majorly prefers advanced cleaning technologies such as laser cleaning over traditional ones. The laser cleanings are less time-consuming. This feature is essential for the high productivity of any industrial sector. The laser cleaners also maintain the prolonged life of a surface area which smoothens the machine’s operations in the industry. The industrial inclination towards laser cleaning has increased demand for laser cleaning which is estimated to be the prime reason for the growth of the laser cleaning market during the forecast period.
In the case of aerospace as well the laser cleaning is increasingly carried out. Aerospace being a sensitive field each surface is to be necessarily cleaned without letting the surface be affected. Thus, advanced technologies are preferred for cleaning purposes. Laser cleaning is the more advanced ones, is therefore preferred for cleaning in aerospace. The use of laser cleaning is expected to increase in aerospace in the upcoming years which eventually rise the laser cleaning market rapidly.
Increase in Demand for Laser Cleaning Technology in Automotive
Likewise, the use of laser cleaning is also made in the automotive sector. Besides the vacuum cleaning method, people also started using laser cleaners to clean their cars or other vehicles. As the laser cleaners selectively turn the dust from the surface, it is more reliable for cleaning purposes. Thus, the use of laser cleaners is expected to prominently be carried out in cleaning the automotive as well. This will raise the demand for laser cleaning technology by car holders in recent times. Additionally, due to the laser cleaning property of restoration and conservation, its demand is also increased from the paint, craft, art, and heritage industry. Hence, this sector is also attributed to the growth of the laser cleaning market during the forecast period.
The laser cleaning market based on components, fragmented into services, hardware, and software. Wherein hardware and software are projected to hold significant market share in this category during the forecast period. There are various applications of laser cleaning such as mold cleaning, dust removing, art and heritage restoration, paint removal, and many more. Among which cleaning application is estimated to grow at a steady pace due to their widespread use in the automotive and aerospace industry.
Few Restraining Factors for the Growth of the Laser Cleaning Market
Laser cleaning is an advanced cleaning technology. Thus, not every industry or consumer has an entire knowledge regarding its use. Many industrialists are even unaware of it and so lack the technical skills to use it. This is one of the factors hampering its market growth. Alongside, vacuum cleaner, which was an advanced technology a few years back, now has been used comfortably by a major part of the population. Therefore, resistance in its replacement with the laser cleaner is one of the obstacles in reaching the laser cleaners. Moreover, laser cleaners being an advanced technology cost high when compared with other cleaning technologies. Therefore, not all sectors afford the use of laser cleaning technology. Only a few large-scale industries, aerospace, and automotive industry sectors can afford it. It is estimated to take time to reach for household use, which cuts down many consumers. These factors are projected to slow down the market growth or can act as obstacles in the laser cleaning market growth.
North America is Expected to Hold a Significant Share in the Laser Cleaning Market
The technology and innovation sector are comparatively developed in North American countries like the United States of America, Canada, and Mexico. Laser cleaning technology is known to be one of the advanced innovations in the field of technology. The North American countries owing to their early adoption of advanced technologies are expected to adopt the usage of laser cleaning technology as well. Moreover, due to the prominent laser cleaning market players, the Laser cleaning market in North America is expected to attribute to the significant market share. These market players include Coherent (California), IPG Photonics (Massachusetts, United States), Laserax (Canada), and many more.
The COVID-19 Impact on the Laser Cleaning Market
After the outbreak of COVID-19, many countries had to face lockdown nearly for a year. Due to the ban on travel, and the shutdown of businesses, the economy of many industries got affected severely. The production of laser cleaning industries was also affected due to the same factor for over a year. Thus Covid-19 had impacted the laser cleaning market negatively. However, due to the increasing demand for laser cleaning owing to its unique properties over the traditional cleaning methods, the market is estimated to come back and grow during the forecast period.
Recent Developments in the Laser Cleaning Market
In May 2021, Dyson announced the launch of its new product, Dyson V15 Detect. Dyson is a leading household appliances manufacturer which offers vacuum cleaners with laser cleaning technology. The new Dyson V15 Detect used laser recognition technology to detect the dust particles with the coordination of its soft head cleaners. It ensures the cleaning of dust which is not usually visible to the naked eyes.
Laser Cleaning Market Scope:
Introduction to the Storehouse of Electric Charge: Electric Capacitor
BlogGlobal electric capacitor market is estimated to grow at a CAGR of 4.95% during the forecast period to reach US$34.738 billion by 2029, from US$24.772 billion in 2022.
Electric Capacitor is an electric device consisting of two conductors nearby and insulated from each other that are used to store electrical energy in the electrical field. In a capacitor, two metal plates are attached to the sides of the insulator. When the current flows, the positive and negative charges transfer with the conductor but the insulator does not carry any current and block the charge. These charges are built up only on one of the capacitors while the other plate has an opposing charge. This, therefore, creates a structure for the capacitors to store the electric charge between the plates. The major purpose of the electric capacitor is to store electricity. Capacitors are used for power supply purposes and for charging and discharging electric charges. Such a feature is used in cameras to emit high voltage flashes. Apart from that, capacitors are also used to reduce the noise by using its property of flowing AC but DC. Also, capacitors are used to maintain the level of voltage.
Types of Electric Capacitors:
Electric Capacitors are of various types ranging from Aluminum, Tantalum, Ceramic, Paper and Film, Mica, etc. Aluminum Electrolytic Capacitor is made from aluminum and comes at an affordable price. Its oxide film blocks the electricity but it also has some weak points like bad frequency, large size, etc. Tantalum Capacitor has a large capacitance and is superior to the aluminum capacitor in terms of leakage current characteristics and uses tantalum for the anode. Ceramic Capacitor uses 3 types of ceramics: low dielectric type, high dielectric type, and semiconductor type. A film capacitor uses films such as polyester and polyethylene as the dielectric material that provides high reliability in frequency and temperature and Mica Capacitor uses mica, which is a natural mineral, as the dielectric material.
High Voltage and Low Voltage Electric Capacitors:
Based on the voltage capacities, the electric capacitors are divided into high voltage and low voltage electric capacitors. Low Voltage Capacitors are widely used in low voltage networks to increase power saving in applications. With the rise in disposable income of the people, the consumption of personal electronic gadgets has increased significantly and with the projected increase in the demand for these gadgets, the electric capacitor market holds a wide scope of development.
High Voltage Capacitors are used in high voltage networks to reduce the power system losses and provide a continuous flow of electricity. With the rising population, the need to supply uninterrupted power with low overload conditions and has increased significantly. This is expected to increase the demand for high voltage electric capacitors in the coming years.
The Growing Use of Electronics:
The use of electric devices has increased significantly over the decades be it smartphones, laptops, etc. Due to the increasing disposable income powered by urbanization especially in developing economies, the demand for these electronic devices is projected to increase at a significant rate. Capacitors are an important component of these electrical gadgets that make up the power supply units, electronic circuits, and power circuits and are also used in power conditioning and in sensors to measure several things like humidity, mechanical strain, and fuel levels. With the growing usage of these components and devices powered by automation and industrialization, the demand for the electric capacitor is projected to increase at a significant rate in the coming years.
Regional and Geographical Insights:
On a Geographical note, North America is expected to come out as a market leader for the electric capacitor market due to already booming industrialization in the region that holds a wide scope of development for electric, automotive, and power industries.
Besides that, Asia-Pacific is also projected to register significant market growth in the coming years. The growing population and fast-developing economies like India and China hold a wide scope for rapid industrialization and automation. With this, the application and demand for the electric capacitor are also expected to increase at a significant rate. Also, the increasing population in the region is projected to increase the demand for electric gadgets like smartphones, laptops, etc. that use electric capacitors as a major component.
COVID-19 Impact
The coronavirus pandemic severely impacted the industries and sectors worldwide. The restrictions imposed by the government that was followed by global lockdowns, curfews, disruptions in supply chains, and export restrictions severely hampered the growth of the electric capacitors market. With the industries shutting down and halting their operations, both the demand and supply side of the market was severely hampered.
Human Machine Interface Technology – A Driving Force for Industrial Operations
Thought ArticlesThe human-machine interface market was valued at US$4.539 billion in 2021 and will increase to US$6.947 billion by 2028. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 6.27%.
The Human Machine Interface (HMI) is a progressive dashboard or interface that allows users to engage with machines, systems, or devices. For smooth functioning, the technology aids the conversion of human instructions into machine language. HMI technology also enables operation from remote locations, ensuring worker safety. The demand for the human-machine interface is increasing as factory automation, technology needs, smartphones, tablet, and computer users expand. Analysts estimate that the global human machine interface market is likely to rise at a promising rate over the forecast period.
The numerous advantages of HMI technology in industrial applications will be the driving force behind the market’s robust growth over the forecasted timeframe.
During the anticipated period, the market would experience strong growth due to the growing implementation of HMI technology in daily industrial operations. The technology permits the visual presentation of data, production tracking, monitoring machine inputs and outputs, and operation from a remote place, among other activities, in an equipped industrial setup. In addition, HMI visual screens enable the display of real-time graphic data via sophisticated software, allowing for greater analysis and decision-making. The system connects PLCs via HMI screens for real-time communication, removing the necessity for operators to commute and maintain manual records on paper or boards. As a result, the technology is being adopted by a variety of industries. Manufacturing, energy and electricity, transportation, water and wastewater, oil and gas, utilities, automotive, healthcare, consumer electronics, and others are the end-user industries in which the HMI market is categorized. In the manufacturing, energy and power, oil and gas, pharmaceuticals, and food and beverage industries, the use of HMI has resulted in increased productivity, fewer accidents and hazards, and the potential to cut costs and take advantage of economies of scale. Increased market prospects for HMI technology are aided by strong growth in these industries.
Analysts strongly anticipate that the advent of HTML5 and IIOT (industrial internet of things) is expected to enhance the market over the projection period. End users will benefit from HTML5 and IIOT, which will make it easier for them to use new software packages and enable the monitoring of equipment and machinery across industries. Alarm alerts, safe messaging, and improved internal communications are expected to give a facility a competitive advantage in terms of operations, security, and productivity. Moreover, HMI is expected to cut operating costs by replacing different push buttons, indicator lights, and selectors, as well as reducing the need for additional display panels and wires. Furthermore, the expansion of the oil and gas, as well as the energy and power industries, will create new prospects for growth. New oil fields being discovered in the Middle East and Africa, as well as an increase in renewable energy and power projects, will open up new possibilities.
Increased demand for HMI technology will be fueled by soaring growth in the consumer electronics and automotive industries as a result of rising global average disposable income. The introduction of more user-friendly interface devices will bring market stability to the HMI business as a result of innovation and technological advancement. In addition, rising investment in the healthcare and water and wastewater treatment industries would expand the market’s opportunities.
HMI technology’s market expansion could be hindered by security concerns and personnel shortages.
Factors like the growing requirement to adapt business processes to incorporate HMIs, as well as significant upfront capital, may have a negative impact on market growth. In addition, a lack of familiarity with HMIs among management and lower-level employees, as well as a scarcity of qualified professionals, may limit the industry’s growth. For successful functioning, the technology necessitates a skilled team. The organization’s activities are hampered by a lack of skilled workers or the insufficiency of existing employees. The HMI technology’s scope also includes data processing, transfer, and maintenance. Effective systems are required to retain and analyze a massive amount of data, which raises the organization’s costs.
While the technology allows people to access data from anywhere on the globe, it also gives the user access to critical information. In a company setting, the loss of key data can hinder operations and result in significant losses. Furthermore, viruses and hackers might attack HMI technology, causing the organization’s operations to be disrupted. While the burgeoning Internet of Things (IoT) offers promising growth opportunities, it also poses a number of industry problems.
During the projected period, the automotive industry is expected to grow rapidly in the HMI market.
By End-User Industry, the human-machine interface market can be segmented into automotive, food and beverage, packaging, pharmaceutical, oil and gas, metal and mining, and others. Among several end-user industries, the automobile sector is likely to occupy a substantial share. The presence of some significant producers, as well as increased consumption, drives the global market value. In the European Union, for example, registrations of alternatively powered vehicles have gradually climbed by 46.2%. By July 2019, 110,630 electric vehicles (EVs) had been registered, up 51.8 percent from the previous year. Vehicles nowadays are equipped with several HMI systems, which necessitate the coordination of several device-specific operating systems.
In January 2020, the DENSO Corporation and Qualcomm Technologies, Inc. announced a collaboration to develop next-generation cockpit technologies. Due to enhanced driver aid capabilities using cameras and sensors, as well as different entertainment functions, the amount of information delivered by a car to the driver has expanded in recent years. Human-machine interfaces play a critical role in giving updates to drivers quickly, productively, and safely while avoiding distractions, thanks to these changes for vehicle-driver communication. This technique is made feasible by the collaboration of multiple HMI components, including the instrument cluster, in-vehicle multimedia, and the Head-Up Display.
During the forecast period, the HMI markets in North America are predicted to have a dominating share, followed by Asia-pacific and the Middle East.
The human-machine interface market is classified into five regions based on geography: North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. Because of the region’s superior infrastructure and rapid adoption of advanced technology, the North American HMI market is expected to hold a major share over the estimated period. In addition, the Asia Pacific is expected to grow rapidly over the next few years. This may be due to the relocation of industrial operations to developing nations in order to take advantage of lower labor costs and greater raw material availability. In this region, China and Japan are regarded to be the equipment production centers for the human interface machine. Manufacturing has also emerged as one of India’s fastest-growing industries. The ‘Make in India’ plan establishes India as a worldwide manufacturing base and gives the Indian economy major respect. India’s manufacturing sector is predicted to reach USD 1 trillion by 2025, according to the Indian Brand Equity Foundation.
The market’s expansion is aided by the Middle East region’s expanding oil and gas sectors. The development of new oil and gas fields in the area will present various prospects for expansion. Furthermore, the industry will benefit from infrastructural development and the construction of water and wastewater treatment plants. Surging demand for consumer electronics and the automotive industries, on the other hand, will drive market expansion in the Asia Pacific area. Manufacturing industry operations are booming, and technological advancements are advancing at a rapid pace, ensuring steady growth. Increased investment in healthcare and infrastructure broadens the market’s scope.
Covid-19 Insights
The coronavirus outbreak has a moderate influence on the HMI market. While increasing investment in the healthcare and pharmaceutical sectors raised market demand for the HMI industry, a stop in economic activity as a result of containment efforts taken to disrupt the virus’s cycle reduced demand for various other businesses.
Human Machine Interface (HMI) Market Scope:
Monitoring Dimensions Through Optical Measurement
Thought ArticlesThe optical measurement market is projected to grow at a CAGR of 6.06% to reach US$6.310 billion by 2026, from US$4.180 billion in 2019.
Optical measurement refers to a contactless, fast, and accurate way of monitoring critical dimensions of manufactured parts in several industries through reliable equipment like Digitizers and Scanners, Microscopes, Coordinate Measuring Machines (CMM), Profile Projector, Autocollimator, Video Measuring Machines (VMM), etc. These pieces of equipment are used during inspections, researches, etc. to maximize the performance and ensure the reliability of the product.
Optical Measurement and Its Equipment:
Based on equipment, the Optical Measurement Market is segmented into Autocollimator, Coordinate Measuring Machines (CMM), Digitizers and Scanners, Microscopes, Profile Projector, Video Measuring Machines (VMM), etc. Microscopes are optical devices that are used to examine tiny objects that are too difficult to be captured by naked eyes. Autocollimator is used to measure small angles and helps in angular monitoring. It is used to detect angular movement, precision alignment, etc. with high sensitivity. Coordinate Measuring Machines (CMM) uses various types of probes like an optical, laser, mechanical, etc. that sense the discrete points on the surface of an object to measure its geometry. Digitizers and Scanners are used to scan an image or an object through a laser that later helps in their reconstruction. Profile Projectors or Shadow Graphs are used during inspections to magnify the surfaces of the object and present the result on the projection screen. Video Measuring Machines are optical devices that are used in both 2d and 3d measurements and consist of both hardware and software to measure a wide range of applications by combining software and high-resolution images.
Less Time Consuming When Compared With Traditional Methods and Equipment:
The optical measurement helps in reducing the time of inspection and provides reliable results over the conventional methods which also helps in cost reduction over time. Owing to this, companies and organizations use optical measurement to maintain the accuracy of their products over time and this factor is expected to drive the demand for optical measurement in the coming years as well. Besides that, the ability of an optical measurement to measure and monitor minute details is something that makes it preferable over the conventional methods, and with technological advancement, optical measurement has expanded its growth in Consumer Electronics, healthcare, Automotive, Manufacturing, Energy, Power, and Aerospace and Defense.
Industrialization and Regional Trends:
The major contributing factor to the growth of the growing optical measurement market is the rapid industrialization and its wide application in every sector and industry. The application of artificial intelligence in combination with the Internet of Things is expected to play a key role in driving the market. For instance, the University of Central Florida informed about the development of the first optical oscilloscope that is a device used to measure the electric field of light and convert it into electrical signals. The growing industrialization in the developing economies and the already established structure in the developed regions of Europe and North America together are expected to drive the market in the coming years.
3D Metrology:
One of the major driving factors for the Optical Measurement market is the increasing 3d metrology services especially in the field of automotive, defense and aerospace, medical, electronics, and construction. 3d metrology is a method that precisely studies an object based on its physical measurement and tries to capture its accurate 3d system. The wide application of 3d metrology requires optical measurement and thus it holds a great opportunity for the growth of the market.
Lack of Expertise Is the Major Concern for the Market:
One of the major restraints to the market is the lack of technically trained personnel and expertise in the field. Not all optical measurement equipment is easy to use and deploy in the industry. It usually requires trained and qualified personnel to install, monitor, and configure the optical measurement thoroughly. Besides that, the design and research that goes into building a piece of optical measurement equipment is also a challenge. This is expected to become its biggest restraint especially in the nations that lack trained and qualified manpower to handle and understand the complicated equipment involved in it.
Besides that, another restraint to the market is the price volatility associated with the optical measurement market. Usually, the optical measurement equipment is price sensitive and their price depends upon the other technical tools that go into their manufacturing. This in turn makes the optical measurement market highly sensitive to price and this thus serves as a major restraint to the market.
Coronavirus Pandemic Analysis:
The analysis report also provides a deep study about the impact of the coronavirus on market for optical measurement, stating how the lockdown, lack of labor, stringent curfew regulations by the government, export barriers, deeply affected every industry including automotive, defense, aerospace, power and energy, chemical and manufacturing. With the shutting down of industries and operations across the globe, the demand for optical measurement witnessed a dip. However, the rising healthcare sector was the only aid to the optical measurement market because the application of the optical measuring equipment significantly increased during the covid pandemic.
Optical Measurement Market Scope:
Increasing Use of Additive Manufacturing Technology
Thought ArticlesThe additive manufacturing market size is projected to witness a compounded annual growth rate of 29.86% to grow to US$65148.103 million by 2027, from US$10459.014 million in 2020.
Additive manufacturing is a developed technology for the design and manufacturing process. The type of 3D printing by the deposition of materials in layers is termed as additive manufacturing technology. Additive manufacturing technology is the emerging technology in the field of design and manufacturing sector. The technology is widely employed in the production sector, design sector and construction sector. The benefits, performance and effectiveness of additive manufacturing technology that outclasses conventional technology makes it a better choice than conventional manufacturing methods. Low cost, flexibility, more effectiveness and user-friendly nature of additive manufacturing technology increase its market in the field of design and production.
The Increasing Utilization of Additive Manufacturing Technology in the Aerospace and Automobile Industry
Additive manufacturing technology is widely employed in aerospace and automobile industry. The more performance and flexibility offered by additive manufacturing technology is rising the demand for the technology in aerospace and automobile market. The deposition of materials in 3D design provides more effectiveness and ease for the design of complex design and structures. Automobile and aerospace are the fields that demands the creation of more complex and strong design structures. The efficiency offered by additive manufacturing for designing complex 3D structures in an effective manner is giving potential for the growth of additive manufacturing technology in the market. The technology mainly operates by combining with CNC (Computer Numerical Control) machines, which can be controlled with the help of supporting software’s. The adaptation and combination of additive manufacturing technology with AI (Artificial Intelligence) and designing software’s increase the scope for the growth of additive manufacturing market. The less precision and accuracy offered by techniques like injection molding, casting and welding are driving the need and scope for additive manufacturing market in the industry. The design and manufacturing process of automobile fields are mainly focused in materials like copper, nickel, steel and aluminum, the deposition of different materials with the same technique increase the acceptance of additive manufacturing. Th AI and CNC machines employed by additive manufacturing increase the design potential and more performance in less time. The number of human labors can be also decreased to a certain extent by utilizing additive manufacturing. Additive manufacturing technology is controlled by CNC machines or program software’s, resulting in more efficiency and less time-consuming process.
The Prominent Role of Additive Manufacturing in Medical and Healthcare Field
Medical and healthcare is one of the fields, that is widely utilizing the applications of additive manufacturing. Medical field demands for the production of more precise and accurate surgical blades and components that are effective for medical purposes. The design of complex and more precise medical devices and components are designed and manufactured with help and support of additive manufacturing technology. 3D printing of devices made of aluminum, steel is designed with support of additive manufacturing technology. The utilization of AI technology and CNC machines helps to reduce the percentage of errors and designing flaws in surgical equipment’s as they are efficiently programmed in a systematic manner. According to the data of WHO (World Health Organization) medical field is one of the fields showing a progressive CAGR in the application of additive manufacturing. Medical and health care sector also uses the technique of high-quality manufacturing techniques for developing custom-made prosthetics, surgical tools and patient-specified surgical models.
Investment of Developed Economy Nations in Additive Manufacturing Technology
The nations with stable and robust economy are widely investing in the field of additive manufacturing, as it’s forecasted as the future of design and manufacturing field. The European countries and U.S are expected to hold a significant share in the global additive manufacturing market, according to the reports of IOSCO (International Organization for Security Commissions). The developing countries are also highly promoting key players for investing in additive manufacturing sector by providing them governmental support and assistance. The international policies taken for reduction of vehicle weight for attaining more fuel efficiency is also paving the scope and demand of additive manufacturing technology in industrial and automobile fields.
The Segmentation of Additive Manufacturing Market
Based on material type, the additive manufacturing market is segmented into materials like ceramics, metals and plastics. The depositing substance or materials in 3D printing technique of additive manufacturing technology varies according to the application of component designed.
By technology, additive manufacturing market is segmented into selective laser sintering, Laser sintering, Electron Beam melting, Fused disposition modeling and stereolithography.
By end-user industry, Additive manufacturing market is segmented into Aerospace industry, healthcare Industry, Automotive Industry, Construction Industry, Consumer Industry, Government and Defense industry.
By geographic regions, additive manufacturing market is segmented as North America, Asia Pacific, Europe, South America, Middle East and Africa. Asia Pacific witnessed the highest market growth.
Coronavirus Pandemic Analysis
The analysis report also provides a deep study about the impact of the coronavirus on market for additive manufacturing . The isolations and lockdowns by imposed international governments has resulted in the decline of additive manufacturing market. The lockdowns and shut down of production units and manufacturing plants of certain industries had resulted in the declination of additive manufacturing market. The blockage in the supply chain sector has also adversely affected the growth of additive manufacturing market.
Additive Manufacturing Market Scope:
Ever Thought of the Safety of Pipeline Transportation?
Thought ArticlesThe global pipeline security market is predicted to grow at a compound annual growth rate (CAGR) of 6.79% to attain a market size of US$11.803 Billion by the end of the analysis period, 2026. The market was valued at US$7.451 Billion in 2019.
Pipeline Security is concerned with the protection of pipelines that are highly used for commercial purposes for transporting natural gas, refined products, crude oil, water, chemicals, etc. to states and beyond borders. Pipeline Security has become a necessary concern due to increasing illegal tapping, sabotaging, and the risk of terror attacks. Based on solutions provided by the security company, the pipeline security market is segmented into surveillance solutions, intrusion detection solutions, tracking solutions, identity access control solutions, and secure communication.
Increasing Demand for Oil and Natural Gas Is Expected to Drive the Market:
With the increasing population, the demand for oil and natural gas is also expected to rise in the coming years. To meet the demand of the rising population the government must ensure undisrupted supply chains. With this, the role of pipelines comes to light. For instance, as per Empower AFPM, the US Department of Transportation Data shows that pipelines are the safest mode to transport oil and the recent data suggests that 99.999997% of the crude oil and gas are safely moved through these pipelines. Pipeline Companies ensure the safety of the structure from the beginning stage itself which includes designing, planning, construction, operation, and inspection. They continuously monitor the performance and engage with the governments and local agencies to improve its safety at every step. With the increasing environmental concerns, the demand for natural gas is also expected to rise in the coming years and all these factors together are expected to contribute heavily to the Pipeline Security Market.
Use of AI and IoT:
With digitalization, the application of the Internet of Things and Artificial Intelligence is expected to play a key role in pipeline security. Pipeline companies are using advanced technology including edge computing, data analytics visual inspection through drones, electronic monitoring through control rooms, sensor detections, vibration detections, etc. to ensure the safety of the pipelines. Multi-sensor data integration along with AI and edge computing are used to detect and alert the authorities about corrosion, damage, leaks, etc. AI is also being deployed to recognize different vibration patterns through three-dimensional vibration patterns that generate alarms if something comes across pipelines. For instance, recently Stellar Cyber has announced that it has won the 2021 Pipeline Innovation Award for introducing innovation in the security of pipelines. The company’s open XDR Platform analyzes data and provides security through its sensors to deliver a 360-degree view of the infrastructure.
Also, the SCADA (Supervisory Control and Data Acquisition) software is expected to witness significant growth in the coming years and is expected to play a key role in the development of the pipeline security market. SCADA software help industries and organization to personally control and monitor the process and gather real-time data and information. SCADA software in pipeline security is expected to play a key role as it can instantly alarm and notify the authorities in case of an intrusion or attack. With the facility of monitoring the site from a long distance, SCADA software provides a solution to check internal and external threats to pipeline infrastructure.
Increasing Cybersecurity Attacks and Terrorist Threats:
The increasing concerns regarding cybersecurity attacks and terrorist threats have become a major security concern especially in the high-conflict countries and are expected to drive the pipeline security market in the coming years. According to Global Terrorism Data in 2019, there were nearly 8500 terrorist attacks around the world that killed more than 203,000 people. The governments are spending huge funds to prevent such attacks and provide safety to the pipelines. Also, the increasing cyber-security attacks registered a global average cost of a data breach USD 3.86 million in 2020 is a major threat and is expected to play a key role in the market development. Due to the increasing threats, surveillance solutions and secure communications are expected to hold a key market share in the segmentation based on solutions.
Huge Installment Cost is a Major Restraint to the Market:
The huge installation costs associated with the pipelines, security maintenance costs, etc. are some of the restraints to the growing market. According to Global Energy Monitor, 2015-16 US gas pipeline projects registered an average cost of $7.65 million/miles which was higher than that registered in the previous years. Manpower costs, monitoring systems, installation of software and Artificial Intelligence, etc. are some of the key factors that determine the cost of the overall project, infrastructure, and security maintenance in turn.
Besides that, another major restraint to the market is the degradation of productive land. The installation of pipelines and security systems needs large underground access that often causes inconvenience to the farmers and landowners because this activity leads to huge-scale land degradation. This, in turn, hampers the production capacity of the land and makes it unfit to be utilized for the next coming years as well. This factor is also expected to hinder market growth in the coming years.
Coronavirus Pandemic Analysis:
The analysis report also provides a deep study about the impact of the coronavirus on market for pipeline security, stating how the lockdown, lack of labor, stringent curfew regulations by the government, export barriers, and employment have impacted the pipeline security market. With the shift in focus of the government towards handling the pandemic, the market did suffer a slowdown. The pandemic resulted in the slowing down of production, shutting down of industries which led to a fall in demand for pipeline security thus negatively impacting the market. But with the industries back in production, the pipeline security market is expected to bounce back in the coming years with the greater need to ensure security and safety.
Electric Vehicles to Propel Aluminum Electrolytic Capacitor Market
Thought ArticlesThe global aluminum electrolytic capacitor market is anticipated to reach US$8,788.879 million by 2028 from US$6,159.013 million in 2020 with a CAGR of 4.54%.
The increased adoption of electric vehicles is the primary factor driving market growth. Aluminum electrolytic capacitors have a pure aluminum foil anode electrode and a significant volumetric capacitance, making them one of the most often used electrolytic capacitors. In many electronic devices, aluminum electrolytic capacitors are used to smooth and buffer rectified DC voltages in power supplies and DC-DC converters. They are also used in industrial power supply systems. Aluminum electrolytic capacitors are polarized due to their anodization principle. Aluminum electrolytic capacitors have the best capacitance, which allows them to store a large quantity of energy. Government and private investments are also driving the aluminum electrolytic capacitor industry forward.
Electric Vehicles Are on the Rise During the Forecasted Period Propelling the Growth of Aluminum Electrolytic Capacitor Market
Due to the high power supply, electrolytic capacitors are used in electric vehicles, while aluminum electrolytic capacitors are famous for their high efficiency. That is why, as the use of electric vehicles increases, the aluminum electrolytic market is expected to grow at a faster rate than predicted. According to the International Energy Agency, sales of electric vehicles worldwide reached 2.1 million in 2019, more than in 2018, which was a record year. In addition, the number of electric vehicles sold increased by 40% year on year. Despite the epidemic, sales of electric vehicles increased by 43 percent by 2020 compared to 2019. Many countries have been rapidly expanding their charging infrastructure to create an adequate network of electric vehicles. According to the IEA, government spending on electric car incentives increased by 25% year over year in 2020, with governments throughout the world spending a total of 14 billion US dollar on tax deductions and direct purchase incentives for electric cars. After a decade of strong growth, the global electric automotive market reached ten million by 2020, showing a commendable increase of 43 percent over 2019 and a 1% shareholding. With the rapid expansion of electric vehicles, the demand for an aluminum electrolytic capacitor is rising in order to provide highly efficient power delivery, which is expected to drive the aluminum electrolytic capacitor market over the projected period.
Increasing Demand for Miniaturization of the Electronic Devices During the Projected Period
One of the major reasons expected to drive the growth of aluminum electrolytic capacitors over the analysis period is the shrinking size of electronic gadgets. Miniaturization of electronic equipment, such as mobile phones, medical gadgets, touch screens and displays, and other electronic devices, is becoming more popular. Manufacturers are developing miniaturized electronic devices in order to improve product performance, sophistication, and market penetration. Aluminum electrolytic capacitors are well-suited for usage in small electronic devices. Aluminum electrolytic capacitors have a substantially higher amount of capacitance for a given space than other electrolytic capacitors, implying that high value electrolytic capacitors can be relatively tiny. As a result of this, analysts predict that as electronic devices become smaller, the need for aluminum electrolytic capacitors will keep increasing, and the aluminum electrolytic market is expected to rise at a fast rate throughout the analysis period. Furthermore, due to a growth in the demand for consumer electronics around the world, the demand for aluminum electrolytic capacitors will rise during the projected period.
Additional Factors Leading to the Growth of Aluminum Electrolytic Capacitor Market During the Analysis Period
In addition, electrolytic capacitors market expansion will be fueled by factors such as a growing concentration of OEMs and ODMs across industries such as consumer electronics, automotive, healthcare, industrial, and others in the coming years, indicating that the market for aluminum electrolytic capacitors will grow in the coming years. Various firms have been developing new and innovative products in the market in response to increased demand, which is expected to contribute to market growth. Demands for space savings, weight reduction, and power efficiency for in-vehicle devices raise performance requirements, such as lower equivalent series resistance (ESR) and larger ripple current, which conventional electrolytic capacitors cannot handle. Rubycon Corporation has developed a highly efficient hybrid capacitor based on conductive polymer aluminum solid electrolytic capacitor using its own hybrid technology to meet these requirements, thus contributing to the high performance of automotive machinery.
Poor High-Frequency Characteristics Likely to Impeded the Growth of Aluminum Electrolytic Capacitors
It also has drawbacks as such as poor high-frequency characteristics and a considerable leakage current (the dielectric of the capacitor has a great obstacle to DC current). The re-formed and mended oxide film will generate a very little current, called leakage current, when a voltage is applied because the aluminum film has a coating of film-like material on it. In general, as temperature and voltage rise, the leakage current rises as well. Filtering in power supplies and low-frequency circuits are common applications.
The Asia Pacific Segment of the Market Will Grow at a Lightning Speed
Based on geography, the market is segmented into the North American region, the South American region, the Asia Pacific region, the Middle East and African region, and the European region. Due to the existence of large-scale electronic device manufacturers in the region, such as China, Hong Kong, and South Korea, among others, and the development in manufacturing, the Asia Pacific region is expected to hold a significant market share and to experience substantial growth. Because of rising investments in electricity and energy, North America is expected to see significant market expansion. Additionally, increased output in the Asia Pacific region’s manufacturing sector to meet domestic demand for higher-quality products and expanding exports from the region are factors driving up demand for aluminum electrolytic capacitors in the APAC region. According to the IEA, by 2020, the European car market has declined by 22%. However, registrations for new electric vehicles increased by more than double to 1.4 million approximately, representing 10% of the market share. China has the largest fleet of ships, with 4.5 million electric vehicles, but Europe has the largest annual growth, reaching 3.2 million by 2020 and the American car market has dropped by 23%, although the registration of electric vehicles has dropped below the total market.
Corona Virus Pandemic Analysis
The analysis report also provides a deep study about the impact of the coronavirus on market for aluminum electrolytic capacitors, stating how the lockdown and employment have severely impacted the aluminum electrolytic capacitor market owing to a delay in recovery of the market. The report also covers the impact of a disrupted supply chain in the industry.
Aluminum Electrolytic Capacitor Market Scope: