The electrical and electronic adhesive tape market is anticipated to grow at a compound annual rate of 5.16% from US$3.397 billion in 2019 over the forecast amount to succeed in market size of US$4.830 billion in 2026.
Adhesive tapes for electronic and electrical instrumentation are specifically designed by taking their conduction and warmth resistance in mind. These tapes permit makers to interchange screws and bolts to scale back the scale of the devices, which is leading to their rising adoption within the production of smartphones, tablets, smartwatches, laptops, and more. Electrically semiconductive Adhesive Transfer Tapes are designed to be used in a very type of natural philosophy assembly operations wherever elements ought to be command in situ whereas, at the identical time, permitting electrical current to submit to them.
Electrical and electronic adhesive tapes work once semiconductive elements are suspended among the tape chemical compound matrix, and once these semiconductive elements inherit contact with varied substrates an electrical current (very low mill-Amps vary usually related to grounding) might be allowed to flow between the substrates. Typical semiconductive elements embody varied metal-type particles or metalized fiber-based webs that are semiconductive. The varied metals used might embody silver, nickel, copper, and carbon as an example. Variations within the elements usually used at the side of the look of the semiconductive elements among the tape have an effect on the adhesive’s electrical phenomenon or however powerfully it resists or conducts the flow of electrical current. Semiconductive Adhesive Transfer Tapes facilitate give several benefits over ancient, standard fastening processes used for grounding, mechanical fasteners (screws, clips, etc.), and assembly. Additionally, the adhesive tapes facilitate give a lot of mechanical flexibility than a solder that helps them face up to vibrations.
Segment Outline
The demand for devices and instrumentation with high dependableness and practicality is increasing due to the advancement in IoT and also the growth of smartphone and automotive sectors. These electronic devices account for an enormous demand for adhesive merchandise due to the enlargement of automotive, client appliances, medical, and aerospace industries.
The Health Care Trade is Anticipated to Account For the Biggest Share of the Adhesive Tapes Market
The health care section is anticipated to account for the biggest market share throughout the forecast amount. Within the health care trade, adhesive tapes are applied to surgical containers, observation electrodes & alternative medical devices, and wound care applications. The world hygiene market is increasing with innovative merchandise. Adhesive tapes employed in this section become part components among the ultimate client product and are, hence, driven by the market demand for that merchandise.
The demand for adhesive tapes is witnessing growth within the health care sector due to the penetration of the merchandise during this sector in developing countries, at the side of income growth. Improved health care system and aging international population also are key drivers for growth during this section.
Driver: Rising Investments Within the Natural Philosophy Sector
The electrical and electronic tape market is projected to expertise steady market growth due to the increasing investments within the electronic sector. The electronics sector is growing quickly as a result of increasing demand from rising market economies. As a result, several countries are progressively manufacturing more electronics, and investment within the foreign production of electronics has enlarged dramatically. Electronics sector growth is accelerated by enlarged client disbursal around the world. As developing economies grow, client demand for electronics conjointly grows. Countries that manufacture electronics currently have sturdy client bases that may afford new electronic merchandise. At the identical time, enlarged competition is driving the prices of electronics production down, creating merchandise even cheaper for people. China has been a big electronics producer for a protracted time and is currently conjointly a significant marketplace for client and industrial electronics. Asia’s proportion of the marketplace for natural philosophy is anticipated to represent about half the world market among consequent many decades. This increase suggests a higher gain for the industry within the future additionally as associate degree estimation of exponential growth of the electrical and electronic tape market.
Burgeoning Demand for Client Natural Philosophy
Burgeoning demand for connected devices and advanced client electronics across the world is supplying the expansion of the patron natural philosophy market. Also, the introduction of the digital initiative by governments in rising economies like China, India, and Brazil is increasing the adoption of client electronic devices particularly smartphones, tablets, and laptops. Further, increasing urban population supplemented by increasing income is anticipated to propel market growth over the forecast amount, which is more expected to spice up the electrical and electronic tape market growth.
Stringent Rules on Volatile Organic Compounds
Stringent rules on volatile organic compounds (VOCs) are expected to hamper the market growth over the approaching years. The producing method of electrical & electronics adhesives releases VOC emissions which will create health and environmental issues. VOCs are the main contributors to smogginess and gas formation at the low part level. They react with pollutants in presence of daylight (photochemical reaction).
Smog pollution reduces visibility beneath bound weather conditions. control of the emission of VOCs helps lighten gas and smogginess pollution issues. Key market players ar investment heavily in producing merchandise that uses bio-based feedstock. This is often anticipated to drive the demand for brand spanking new materials and resins employed in producing the adhesives.
Restraint: Alternate Nature of Electronics and Semiconductor Trade
The semiconductor trade is legendary for being an alternate trade, thanks to the comparatively short life of semiconductor things, wherever technology becomes obsolete quickly once new and quicker applications are developed. Upswings within the trade occur once advances are created, inflicting high demand and a brief provider of advanced merchandise. On the flip facet, oversupply causes inventory buildup, leading to falling costs and a downswing within the market. The 2 key factors influencing the swings within the market are inventory and the worldwide economic process, which can conjointly act as a restraint to the electrical and electronic tape market growth.
APAC Is Anticipated to Account For the Biggest Market Share Throughout the Forecast Amount
By geographics, the market is spurred into Asia-Pacific, Europe, North America, South America, Middle East, and Africa.
APAC is that the largest adhesive tapes market and is additionally projected to be the fastest-growing market throughout the forecast amount. The region is witnessing sturdy growth due to current R&D and advancements in the electrical & electronics, healthcare, and automotive industries. The adhesive tapes market in rising economies, like China, India, Brazil, an African nation, and Indonesia, is anticipated to witness important growth whereas a lot of developed markets like America, Germany, Japan, and the UK, can witness slow or no growth throughout the forecast amount. China is anticipated to be the main contributor, in the main light-emitting diode by the high demand from significant industries and client product producing sectors.
Socio-economic enlargement contributes to the enlargement of the world adhesive tapes market within the country. Moreover, the low price of raw materials and straightforward convenience of low-cost labor for the production of tapes with adhesion properties have resulted in the enlarged production of inexpensive tapes in APAC, which successively has contributed to the expansion of the adhesive tapes market during this region.
Impact of COVID-19
The COVID-19 pandemic is anticipated to negatively impact the electrical and electronic tape market growth because it to the impact on production activities, the continued pandemic has taken a toll on the patron demand additionally for show integrated devices, seemingly fueled by the internment obligatory across major countries.
Electrical And Electronic Adhesive Tape Market Scope:
| Report Metric |
Details |
| Market size value in 2019 |
US$3.397 billion |
| Market size value in 2026 |
US$4.830 billion |
| Growth Rate |
CAGR of 5.16% from 2019 to 2026 |
| Base year |
2019 |
| Forecast period |
2021–2026 |
| Forecast Unit (Value) |
USD Billion |
| Segments Covered |
Coating Technology, And Geography |
| Regions covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered |
3M, Tesa SE, Avery Dennison Corporation, HENKEL AG, Scapa Group plc, Intertape Polymer Group, GERGONNE, Shurtape Technologies, LLC., DIC CORPORATION, Teraoka Seisakusho co., Ltd. |
| Customization scope |
Free report customization with purchase |
Algaecides for the Protection of Water Bodies
Thought ArticlesThe algaecide market is expected to grow at a CAGR of 3.54% from an initial value of US$2.364 billion in 2021 and is estimated to reach a market size of US$3.016 billion in 2028.
Algaecides are chemical components that are used to prevent and destroy the unwanted algal blooms occurring in water bodies. Excess algae growth is one of the major problems faced by the modern agriculture and the aquaculture sector. Tremendous developments in the field of industrialization are one of the major reasons for the increasing number of algae and algal blooms in lakes and water bodies. The excess amount of nitrogen and phosphorus content emitted by industries are increasing the levels of nitrogen content in water bodies.
The increased levels of nitrogen in water bodies are making good conditions for the growth of algal blooms and algae in water bodies. Algaecides are chemical substances or components, which can result in the eradication and removal of algae in water bodies. Sprinkling or mixing algaecide in the water bodies can prevent algal growth to a certain extent. The chemicals used in algaecides are extremely strong that it can completely remove algal growth to a certain extent.
Excess Algal Growth Due to Climate Change
Climate change is the modern problem faced by the food and agriculture sector due to global warming as a result of excess emissions from industries. The increasing temperature rate compared to normal temperature is resulting the algal growth in lakes and water bodies, as rising temperature provides ideal conditions for algal growth in water bodies. The acid rain falls, the increased presence of carbon dioxide and change in salinity levels are also providing good conditions for algal growth. The excess carbon emissions from industries are paving the way for climate change and also result in global warming. According to the reports of IPCC (Intergovernmental Panel on Climate Change) the Canadian glaciers are suffering rapid melting after 2016. The rapid heatwaves developing in North America is also leading to increase in temperature. As a result of heat waves the temperature of Death Valley in California has reached a peak temperature of 54.4 degree Celsius. The red tide incident resulted in Florida is a major effect arisen due to climate change. Red tide is a type of algal bloom that grow excess due to the presence of certain protozoa’s and aquatic microorganisms. The percentage of harmful algal bloom cases reported in coastal waters of the northern Beibu Gulf, China is showing an increasing trend in the last 30 years. Acid rainfalls and nitrogen content rising in water bodies are providing food and good conditions are for the growth of microorganisms The percentage of harmful algal cases reported by HAEDAT (Harmful Algae Event Database) are increasing annually in worldwide. WMO (World Meteorological Organization) forecasts that it’s expected to have a 40% chance in increasing global annual average temperature to above 1.5 degree Celsius in the next 5 years.
Market of Algaecides in Aquaculture
Aquaculture is one of the major sectors, which has shown devastating growth in production on last 20 years. Aquaculture is showing a steady growth in the last 10 to 20 years depending on the reports of FAO (World Food and Agriculture Organization). The increasing growth of microbes and algae is one of the major threats faced aquaculture sector. The algal blooms and red tides caused by microbes and algae are severely affecting the production of aquaculture. The growth of aquaculture is giving potential to the increasing demand of the algaecide market. The demand of algaecide has been widely increased as result of the booming growth of the aquaculture sector. China is stated as the leading country in the field of aquaculture according WAS (World Aquaculture Society). China is also the country facing devastating climate change problems and harmful algal bloom incidents in the coastal regions. The rising industrial emissions of China is the major reason behind harmful algal incidents and climate change in China. The capacity of Algaecides as solution or remedy to the harmful algal blooms is rising the market value of algaecide in the global market. The growth algaecide market is also growing in hand to hand with the growth of global aquaculture sector.
North America Stands as the Growing Market for Algaecides
The regional segmentation of the Algaecide market is parted as North America, Europe, South America, Asia Pacific, Middle East and Africa. Algaecide market is showcasing rising growth in the North America region. The preoccupying harmful algal bloom incidents taking place in the North American regions are resulting for the demand of algaecides in North America market. The aquaculture sectors are well established in countries like Canada and United States. The aquaculture industries in countries like U.S is also showing substantial growth. The developed countries like U.S and Canada are also resulting in higher carbon emission as a result of increased industries in the country, making it vulnerable to harmful algal bloom incidents. The need and demand for algaecides for supporting the aquaculture sector of North America are increasing the value algaecides market in the North America region.
By type, depending on the type of chemical components used for the manufacture of algaecides. Algaecides are segmented into different types like copper sulfate, quaternary Ammonia, chelated Copper, peroxyacetic acid & hydrogen dioxide and Others. The algaecide product like green pondFX is stated as one of the safe and less harmful algaecides in regarding to humans.
By application, algaecide sides are segmented into for the use of agriculture, aquaculture, surface water treatment and others. Algaecide are also employed for commercial purposes like for the maintenance of foundation swimming pool etc.
COVID Insights
The analysis report on Algaecide market also discusses about the effects of COVID pandemic on algaecide market. The isolations and lockdowns due to COVID pandemic has resulted in the downfall of the algaecide market. The traffics and blockages in the supply chain sector of algaecide market push to the down fall of algaecides availability in global market. COVID pandemic had resulted in severe downfall on the market of algaecides in international market.
Algaecides Market Scope:
Getting Real With Phase-Change Memories
BlogThe phase change memory market is predicted to grow at a CAGR of 66.71 % to reach a market size worth US$12,450.978 million by 2026. This market was valued at US$347.914 million in 2019.
A phase-change memory or CRAM (chalcogenide random access memory) is a type of computer non-volatile random access memory enabled by the peculiar properties of chalcogenide glasses. Upon heating these glasses, they transition from amorphous to crystalline. The growing trend to integrate new memory technologies benefits new generation memory technologies, and PCM leads the way. There have been many developments in the field of phase storage devices and solutions by major companies. Intel, one of the major players in the market, has been shipping and selling next-generation memory storage called 3D XPoint which is based on phase-change technology. These devices are sold by the company for Solid State Storage Devices, along with other related products. Several companies had developed phase storage technologies and solutions, including Micron. With phase-change memory embedded in its products, STMicroelectronics, one of the leading players in the market, had started sampling products in 2019. Based on 28nm FD-SOI technology, the company developed and manufactured an embedded phase-change microcontroller for the automotive industry. A new and emerging market, phase change memory is expected to grow significantly over the next few years.
In addition to reducing the power consumed by servers, PCM can reduce the space consumed by them. Additionally, PCM is highly scalable and reliable, making it a suitable option for large systems such as storage servers. The Phase Change Memory technology is regarded as an emerging technology. The technology works for non-volatile dual-in-line memory modules as well as solid-state drives with non-volatile memory. Additionally, the technology has more durability than flash and does not wear out as easily after regular use.
The Phase Change Memory Market Is Growing Due to the Increasing Use of Smartphones
The PCM market is experiencing growth due to the proliferation of smartphones in developing regions. A population of over a billion people and rising disposable income levels make India one of the most lucrative markets for smartphones. From 14.5 million shipments in 2011 to 150 million in 2020, the market has grown by a factor of 10. Even though Indian markets declined by 4% in 2020, they managed to outperform North America, Latin America, and Africa. The two largest manufacturers, Xiaomi and Samsung, hold the top two positions with 28% and 18% market shares, respectively, as of the second quarter of 2021. With COVID-19-induced lockdowns, sales of smartphones through online channels increased in 2020. IDC estimates that online channels will contribute 48% of total sales in 2020, up 12% from last year. Further, as a result of the festive season, sales at physical stores increased by 5% YoY in the fourth quarter of 2020, in part due to foot traffic in physical stores increasing during the festive season. (Source: ibef.org). In addition, Ericsson estimates that the number of smartphone subscribers in the world exceeds six billion and will continue to grow by several hundred million in the coming years.
The highest number of smartphone users are in China, India, and the United States. A staggering 7516 million smartphone subscriptions are anticipated by 2026. As reported by the Consumer Technology Association (CTA)’s Consumer Technology Sales and Forecast Study, smartphones generated a revenue of 77.5 billion dollars in 2019. As a result of their portability and flexibility, smartphones and tablets are also gaining in popularity. The sale of smart devices is expected to increase in the coming years, resulting in an increase in phase-change memory technologies. With rapid technological advancements over the past few years, newer technologies have surpassed aging ones on multiple fronts, including the capability to scale to smaller devices and the ability to integrate sensors with impressive performance, endurance, and yield characteristics.
The Adoption of Big Data Storage Is on the Rise
Phase change memory technology is in demand due to the advent of low power consumption memory modules. With the new improved computer, memory and CPU ecosystems are close operationally and physically, as they are merged in a novel way. PCM technology will be in high demand for storing big data in industries such as IT and R&D due to the growing market of big data analytics. In September 2021, Cloudflare, which operates 250 data centres worldwide, announced its first foray into infrastructure services with the launch of the R2 cloud storage service. Additionally, Alibaba Cloud, APAC’s largest cloud service provider, announced plans to open data centres in South Korea and Thailand in 2022. In April 2021, IBM announced major innovations in its storage portfolio optimized the access and management of data in increasingly complex hybrid cloud environments, thereby improving data availability and resilience. These developments will propel the phase-change memory market to grow.
North America Will Dominate the Market
In North America, the phase change is primarily driven by changes in consumer preferences that have led to the growth in demand for mobile devices that consume less power yet work at low latency, such as laptops, tablets, and smartphones. As a result of technological advances, the Internet of Things has emerged, which will also play a substantial role in driving the market in the region. Further, IoT vendors have a strong presence in the region, which supports the growth of the market. Cisco Systems, Inc., Intel Corporation, and IBM Corporation are just a few. A Cisco IoT portfolio enhancement in February 2020 made it possible for partner service providers to optimize cellular IoT environments and enable new 5G use-cases. 5G, Wi-Fi 6, and other new wireless technologies will be able to support more devices as well as new IIoT use cases and will give service providers the opportunity to compete with cellular IoT offerings. This will further boost the phase change memory market.
COVID-19 Insight:
The phase change memory market was negatively affected by the Coronavirus pandemic. Numerous universities and organizations around the world have been adversely affected by COVID-19, halting research advancement. Dropping end-user demand directly impacted the market for phase-change memory. It is, however, likely that phase-change memory demand will rebound quickly as the economy improves.
Global Phase Change Memory Market Scope:
Electrical and Electronic Adhesive Tape Market: Rising Investments in Electronic Sector Is Booming the Market
BlogThe electrical and electronic adhesive tape market is anticipated to grow at a compound annual rate of 5.16% from US$3.397 billion in 2019 over the forecast amount to succeed in market size of US$4.830 billion in 2026.
Adhesive tapes for electronic and electrical instrumentation are specifically designed by taking their conduction and warmth resistance in mind. These tapes permit makers to interchange screws and bolts to scale back the scale of the devices, which is leading to their rising adoption within the production of smartphones, tablets, smartwatches, laptops, and more. Electrically semiconductive Adhesive Transfer Tapes are designed to be used in a very type of natural philosophy assembly operations wherever elements ought to be command in situ whereas, at the identical time, permitting electrical current to submit to them.
Electrical and electronic adhesive tapes work once semiconductive elements are suspended among the tape chemical compound matrix, and once these semiconductive elements inherit contact with varied substrates an electrical current (very low mill-Amps vary usually related to grounding) might be allowed to flow between the substrates. Typical semiconductive elements embody varied metal-type particles or metalized fiber-based webs that are semiconductive. The varied metals used might embody silver, nickel, copper, and carbon as an example. Variations within the elements usually used at the side of the look of the semiconductive elements among the tape have an effect on the adhesive’s electrical phenomenon or however powerfully it resists or conducts the flow of electrical current. Semiconductive Adhesive Transfer Tapes facilitate give several benefits over ancient, standard fastening processes used for grounding, mechanical fasteners (screws, clips, etc.), and assembly. Additionally, the adhesive tapes facilitate give a lot of mechanical flexibility than a solder that helps them face up to vibrations.
Segment Outline
The demand for devices and instrumentation with high dependableness and practicality is increasing due to the advancement in IoT and also the growth of smartphone and automotive sectors. These electronic devices account for an enormous demand for adhesive merchandise due to the enlargement of automotive, client appliances, medical, and aerospace industries.
The Health Care Trade is Anticipated to Account For the Biggest Share of the Adhesive Tapes Market
The health care section is anticipated to account for the biggest market share throughout the forecast amount. Within the health care trade, adhesive tapes are applied to surgical containers, observation electrodes & alternative medical devices, and wound care applications. The world hygiene market is increasing with innovative merchandise. Adhesive tapes employed in this section become part components among the ultimate client product and are, hence, driven by the market demand for that merchandise.
The demand for adhesive tapes is witnessing growth within the health care sector due to the penetration of the merchandise during this sector in developing countries, at the side of income growth. Improved health care system and aging international population also are key drivers for growth during this section.
Driver: Rising Investments Within the Natural Philosophy Sector
The electrical and electronic tape market is projected to expertise steady market growth due to the increasing investments within the electronic sector. The electronics sector is growing quickly as a result of increasing demand from rising market economies. As a result, several countries are progressively manufacturing more electronics, and investment within the foreign production of electronics has enlarged dramatically. Electronics sector growth is accelerated by enlarged client disbursal around the world. As developing economies grow, client demand for electronics conjointly grows. Countries that manufacture electronics currently have sturdy client bases that may afford new electronic merchandise. At the identical time, enlarged competition is driving the prices of electronics production down, creating merchandise even cheaper for people. China has been a big electronics producer for a protracted time and is currently conjointly a significant marketplace for client and industrial electronics. Asia’s proportion of the marketplace for natural philosophy is anticipated to represent about half the world market among consequent many decades. This increase suggests a higher gain for the industry within the future additionally as associate degree estimation of exponential growth of the electrical and electronic tape market.
Burgeoning Demand for Client Natural Philosophy
Burgeoning demand for connected devices and advanced client electronics across the world is supplying the expansion of the patron natural philosophy market. Also, the introduction of the digital initiative by governments in rising economies like China, India, and Brazil is increasing the adoption of client electronic devices particularly smartphones, tablets, and laptops. Further, increasing urban population supplemented by increasing income is anticipated to propel market growth over the forecast amount, which is more expected to spice up the electrical and electronic tape market growth.
Stringent Rules on Volatile Organic Compounds
Stringent rules on volatile organic compounds (VOCs) are expected to hamper the market growth over the approaching years. The producing method of electrical & electronics adhesives releases VOC emissions which will create health and environmental issues. VOCs are the main contributors to smogginess and gas formation at the low part level. They react with pollutants in presence of daylight (photochemical reaction).
Smog pollution reduces visibility beneath bound weather conditions. control of the emission of VOCs helps lighten gas and smogginess pollution issues. Key market players ar investment heavily in producing merchandise that uses bio-based feedstock. This is often anticipated to drive the demand for brand spanking new materials and resins employed in producing the adhesives.
Restraint: Alternate Nature of Electronics and Semiconductor Trade
The semiconductor trade is legendary for being an alternate trade, thanks to the comparatively short life of semiconductor things, wherever technology becomes obsolete quickly once new and quicker applications are developed. Upswings within the trade occur once advances are created, inflicting high demand and a brief provider of advanced merchandise. On the flip facet, oversupply causes inventory buildup, leading to falling costs and a downswing within the market. The 2 key factors influencing the swings within the market are inventory and the worldwide economic process, which can conjointly act as a restraint to the electrical and electronic tape market growth.
APAC Is Anticipated to Account For the Biggest Market Share Throughout the Forecast Amount
By geographics, the market is spurred into Asia-Pacific, Europe, North America, South America, Middle East, and Africa.
APAC is that the largest adhesive tapes market and is additionally projected to be the fastest-growing market throughout the forecast amount. The region is witnessing sturdy growth due to current R&D and advancements in the electrical & electronics, healthcare, and automotive industries. The adhesive tapes market in rising economies, like China, India, Brazil, an African nation, and Indonesia, is anticipated to witness important growth whereas a lot of developed markets like America, Germany, Japan, and the UK, can witness slow or no growth throughout the forecast amount. China is anticipated to be the main contributor, in the main light-emitting diode by the high demand from significant industries and client product producing sectors.
Socio-economic enlargement contributes to the enlargement of the world adhesive tapes market within the country. Moreover, the low price of raw materials and straightforward convenience of low-cost labor for the production of tapes with adhesion properties have resulted in the enlarged production of inexpensive tapes in APAC, which successively has contributed to the expansion of the adhesive tapes market during this region.
Impact of COVID-19
The COVID-19 pandemic is anticipated to negatively impact the electrical and electronic tape market growth because it to the impact on production activities, the continued pandemic has taken a toll on the patron demand additionally for show integrated devices, seemingly fueled by the internment obligatory across major countries.
Electrical And Electronic Adhesive Tape Market Scope:
Spectacular Spectroscopy
Thought ArticlesThe Global Spectroscopy Market is predicted to grow at a CAGR of 3.87 % to attain a market size of US$25.470 million by the end of 2026. This market was worth US$19.526 million in the year-end 2019.
In spectroscopy, the matter is examined for its light-absorption and emission properties. The process involves splitting light or electromagnetic radiation into their constituent components (a spectrum), much like a prism divides light into a rainbow of colours. Spectrometry is becoming increasingly important in many analytical applications, such as pharmaceutical development, proteomics, metabolomics, forensic analysis, and forensic analysis of water.
These techniques have become increasingly popular as the drug discovery process has evolved. It is also expected that new technologies will be introduced for novel applications throughout the forecast period. In addition to these uses, radio-frequency spectroscopy has a staggering number of others; for instance, magnetic resonance imaging (MRI) and x-ray machines use radio-frequency spectroscopy while ionizing radiation is used to study and test doping in sports. In spectroscopy, different kinds of energy are involved in certain types of interactions. This electromagnetic radiation is measured by varying its intensity or frequency in many applications. Different types of spectroscopy are distinguished also by the way they interact with materials. Some examples are:
Absorption spectroscopy involves measuring the radiation absorbed by matter using spectroscopic methods. Testing the absorption of specific elements across the electromagnetic spectrum allows one to determine the atomic composition of a sample.
The technique is used in biomedical science. For example, magnetic resonance spectroscopy (a specialized form of imaging technique) has been used to diagnose mental health conditions ranging from depression to physical tumours, in addition to analysing muscle metabolism. A spectrum of wavelengths is mapped in the brain that corresponds to the known spectrum, and then the pattern of peaks and valleys of those peaks is scrutinized carefully.
An energy dispersive X-ray spectrometer, also called EDS or EDX, is used for identifying and quantifying elements found in a sample. This technique is employed by the Phenom ProX Desktop SEM. It can also be used in conjunction with Transmission Electron Microscopy (TEM) and Scanning Transmission Electron Microscopy (STEM) for creating spatially resolved elemental analyses in as small an area as a few nanometres.
Technology-driven developments in spectroscopy instruments and consumables are expected to drive this market’s growth. Spectrometric devices have been increasingly used on the market due to the continual evolution of spectrometry techniques. Researchers would be able to produce better results if key players develop products that are easy to use and provide better results. Accordingly, the market is expected to grow over the forecast period.
The Market Is Dominated by Molecular Spectroscopy
Pharmaceuticals and other biotechnology products are being researched and developed with molecular spectroscopy, and one of the molecular spectroscopy types is near-infrared spectroscopy (NIR). The pharmaceutical sector also has gained a great deal of appreciation for NIR spectroscopy in recent years because of its major advantages such as easy sample preparation and the potential for the estimation of chemical and physical parameters from a single spectrum. The market might grow due to the popularity of this technology, which has been widely noted. PerkinElmer, Inc., for example, offers a wide range of instruments, accessories, consumables, as well as software and informatics in the field of molecular spectroscopy. As part of its molecular spectroscopy system, the company provides spectroscopies in the infrared, fluorescence, ultraviolet-visible (UV-Vis), and FT-IR wavelength ranges, as well as spectroscopic imaging systems.
Among All Application Areas, Pharmaceuticals Are Projected to Grow Most Rapidly
Pharmaceutical applications are predicted to grow at the highest rate during the forecast period. The growth in this market is mainly due to the increasing use of molecular spectroscopy in various stages of drug development and the growth of research and development in pharmaceutical industries. Some major players offer specific instruments for pharmaceutical analysis. An example of this is Agilent Technologies, Inc.’s Raman pharmaceutical analytical systems – the TRS100 quantitative pharmaceutical analysis system. In pharmaceutical finished-product testing and formulation development for capsules, tablets, and other dosage forms, the TRS100 system allows for simple and fast screening of whole content uniformity and polymorphism. A novel application for spectrometry technology is to quantify drugs in the pharmaceutical industry. To determine the effectiveness of the anti-COVID-19 drug remdesivir for treating disease, liquid chromatography-mass spectrometry (LC-MS) technology was used.
North America Is Expected to Grow Rapidly Over the Forecast Period
The North American market is poised to grow due to an increase in the use of spectroscopy in pharmaceutical production, improved funding for environmental testing, and favourable government policies and initiatives. Pharmaceutical Research and Manufacturers Association (PhRMA) data, for example, indicates that the United States is the world’s largest biopharmaceutical market, accounting for one-third of the total global market and being a world leader in biopharmaceutical R&D. In addition, the United States is a very supportive environment for the discovery, development, and commercialization of pharmaceutical products with minimal barriers to entry. Over the next few years, the United States will increasingly use spectroscopic techniques for drug discovery and development. Furthermore, there are many pharmaceutical companies operating in Canada, which continue to play a key role in propelling the growth of the market. A collaboration agreement was announced by Numares AG and Bruker Corporation in January 2021 for the purpose of developing NMR diagnostic tests. Agilent Technologies Inc. also launched the Cary 3500 UV-Visible Spectrophotometer in November 2018, which simplifies analysis processes, optimizes lab productivity, and ultimately helps develop new therapeutics for life sciences, pharma, and biopharma. During the forecast period, the country’s growing R&D activities in drug discovery and development are expected to drive the molecular spectroscopy market driven by new product launches from players in the United States.
High Cost of Spectroscopy Systems
A spectroscopy instrument is equipped with advanced features and functionalities, so its price is higher than other instruments. Along with the cost of the system itself, the system must also comply with industry standards. Compliance is the process of ensuring that the molecular spectroscopy system complies with the requirements specific to the industry where it will be used (whether mandated by the government or self-imposed). The following requirements must be met by spectroscopy systems in order to be compliant with industry standards:
Verification: This process, also known as performance verification, makes sure that the spectrometer is operating correctly at any given moment.
Qualification: Qualification is the process whereby assurance is provided that the system will function as desired and it is documented for the regulatory agencies. While purchasing an instrument as well as commissioning it, a well-documented and rigorous evaluation process is used.
Validation: Documenting the suitability of a spectrometer for a given application is known as validation. The standard operating procedures (SOPs) for the complete system, including the software, accessories, the intended application, and all associated software are covered in this process. These rigid verification steps added with high cost can hamper the market growth.
COVID-19 Insight
COVID-19 is also having a positive impact on the market, as more scientists are using Raman spectroscopy for the testing of COVID-19. Research teams at the Northern Arizona University (NAU) have developed a tested technology that uses single-molecule surface-enhanced Raman spectroscopy (SM-SERS) to detect SARS-CoV-2. SARS-CoV-2 was being tested using a new method based on single-molecule surface-enhanced Raman spectroscopy, which was approved for USD 200,000 from the National Science Foundation’s Rapid Response Research (RAPID) program. Thus, the demand for molecular spectroscopy is consistently predicted to grow over the forecast period with the increase in research and development activities associated with drug discovery.
Global Spectroscopy Market Scope:
Conveyor Systems Market: Advanced Material Handing Equipment’s
Thought ArticlesThe conveyor systems market size is projected to grow at a CAGR of 3.83% to reach US$10.069 billion in 2026 from US$7.741 billion in 2019.
It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
Conveyor systems are mechanical equipment’s which are used in various industry sectors including manufacturing, food and beverages, retail, transportation and automotive. These mechanical equipment’s are primarily used for material handling to save time and have an error-free process. Factors such as the need of automation to reduce costs, growing industrialization and to improve the overall efficiency are driving the use of conveyor systems in a variety of industry sectors.
One of the major drivers for the conveyor systems market growth includes the explosive growth of Industry 4.0 and e-commerce which has been continuously transforming company strategies, its supply chain, storage of materials with the use of advanced technologies and automation. The demand of automation in the manufacturing process has been fuelled by intelligent mechanical handling equipment’s. The use of automated distribution and warehouse solution to stay profitable and optimize warehouse space utilization has become a market trend for retailers. The conveyor systems are used in retail sectors for cross-docking, sorting and distribution and warehouse operations. The ever-growing online shopping in the Asia Pacific region has been a major contributor to the growth of the conveyor system market. The changing consumer behaviour towards purchasing goods and growing online retail has demanded the surged in the use of conveyor systems in industry sectors. The investment in sortation facility has further led to the increase in its demand in the global market. In the year 2018, UPS had announced to further expand their sortation capacity to increase their cross-border orders by 25% by the year 2022.
However, the increasing competitiveness among industries has led to the increasing demand of automation of industrial facilities as companies are constantly looking for process automation. The various advancements in automation have helped in meeting requirements such as material handling capacities which have resulted in less human errors, increasing safety measures, reduced production time, high volume production, and increased efficiency and accuracy. This has been a prime reason for its adoption by various industry sectors in the market. In a recent report by the International Federation of Robotics (IFR), 2.7 million were installed in various industry sectors in the year 2020. This has been a major reason which may hamper the conveyor systems market in the forecast period.
The Warehousing Segment Is Estimated to Own the Highest Market Share
Based on industry vertical, the market is metameric into manufacturing, healthcare, chemical, paper, food and beverage, warehousing and others. On the source of industry vertical, the warehousing section procured the utmost revenue of the worldwide conveyor systems market in 2019. The increasing demand of conveyor systems from the retail and warehousing sector in the global market has been a prime driver of this industry.
The increasing demand of conveyor systems market in the retail and warehousing sector is factored to staying profitable and to optimizing warehouse space utilization. The increasing adoption of automated and warehousing solutions in the retail market has gained pace due to its uses in cross docking, sorting and distribution and warehouse operations. It has proved to be a valuable asset for maximizing efficiencies in modern material handling systems for decades. With growing technological advancements, the demand for these conveyor systems in material handling has surged over the years. Recently in the year 2019, Daifuku, a leading manufacturer of material handling systems acquired Vega conveyors and Automation Private Limited to strengthen the company’s localization strategy and the increasing demand in the Asia Pacific region.
The growing working-class segment, lifestyle changes, increasing purchasing power of consumers and the lessening of government regulations such as the FDI have given a boost to the overall conveyor systems market in the forecast period.
North America and Asia Pacific Region Fuelled the Conveyor Systems Market
The market for conveyor systems market is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In recent years, Europe has emerged to be a prominent region in the conveyor systems market; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. Europe is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2020-2027. Factors like highly qualified workforce, extensive R&D infrastructure and the increasing research and development for the innovation of improved technological systems to gain a competitive edge in the market has led to the growth in this region. The growth of the Asia-Pacific market is calculable to be fuelled because of the upsurge in the demand of conveyor systems in production facilities set up in developing countries such as China and India by international corporation of developed countries across the globe due to cheaper labour, raw materials and equipment’s. This increase in the production and manufacturing units in the region have upsurged the demand of conveyor system in the region. Additionally, the improving standard of living, higher GDP and increasing spending power has allowed the demand for manufacturing goods, due to which the demand of conveyor systems and other automated solutions has increased in the forecast period.
COVID-19 Situation
Manufacturing activities are interrupted because of lockdown measures enforced in numerous countries. Additionally, disruptions within the supply chain and retardation of companies’ businesses have occurred. Trade barriers have restrained the stock. The COVID-19 impact on conveyor systems market has been severely affected due to the uncertainty in the recovery timeline, the implantation of lockdown in various countries has had a negative impact on the automation, sensor and control industry. The investments made in the automation sectors have been put on hold due to the pandemic across various counties and is expected to be postponed for at least a year. The partial operation of distribution centres and manufacturing unit have cause delays is new orders of conveyor systems. The rising ecommerce globally is expected to revive the demand of conveyor systems in the global market. The COVID-19 pandemic has slowed down operations of the conveyor systems market. The United Nations Industrial Development Organization in a recent report witnessed a 6% decline in the global manufacturing output due to the lockdown implemented in the first quarter of 2020. In the post COVID scenario, the conveyor systems market is expected to gain pace owing to the increase in its demand in various industry sectors.
The key companies involved in the conductive silicon market are Siemens AG, DEMATIC, BEUMER Group, Murata Machinery Ltd., Liebherr Group, Mecalux SA, SSI Schaefer AG, Honeywell Intelligrated Inc., Daifuku Co. Ltd, Titan Conveyors.
Conveyor Systems Market Scope:
Electrochromic Glass: An Effective Way to Implement Sustainable Development
Thought ArticlesThe electrochromic glass market is predicted to grow at a CAGR of 12.97% to attain a market size of US$3,349.290 million by the end of 2026. This market was worth US$1,426.500 million in the year-end 2019.
The market for electrochromic glass has grown starts out transparent, but once activated, it becomes translucent, blocking some or all wavelengths of light. with the use of features such as improved security and privacy at the push of a button. Electrochromic glass is technically a composition of chromogenic material that responds to external voltage and changes transparency depending on its exposure to light and heat. Known as dynamic glass due to its benefits as a screen that offers on-demand privacy, energy efficiency, and control, it is popular in the electronics industry. When activated, the glass changes from transparent to translucent, blocking some or all wavelengths of light. In the future, commercial applications of electrochromic glass will be augmented by technological advancements, which will enable it to be used in new environments, such as the Internet of things, next-generation hospitals, and more.
Electrochromic Glass Has a Variety of Applications
Non-residential buildings, such as offices, hospitals, and hotels, worldwide, use electrochromic glass. The device saves a lot of energy and prevents excess heat from entering the room, so the room stays cooler during summer and air conditioner costs are minimized. Light reflected from glass keeps rooms cooler since it reflects light back. Sharing and open spaces can easily be transformed into private ones with this smart glass. A switchable glass partition is a feature that is quite important in an office since it gives you the privacy that you need in your office.
Residential buildings are increasingly using electrochromic glass, partitions, and doors. Skylights, doors, and windows can easily be fitted with them. Smart Glass can be used to control both the amount of light that enters a building as well as privacy. The glass could prevent privacy invasion without requiring any blinds or curtains.
Both big and small hotels can benefit from smart glass’ aesthetics and efficiency. Private spaces such as bathrooms, shower cubicles, and spas can benefit from it. By simply clicking on the glass, guests can change it from clear to opaque and back again according to their preferences. A smart glass partition can also be used as a part of a conference room, bar, or restaurant in a hotel.
People with compromised immune systems visit hospitals. Since they require extra care, smart glasses are the ideal solution. Because of smart glass, traditional drapes, curtains, or blinds are no longer necessary. In addition to protecting patients from outside noise, these smart glass partitions also provide an extra layer of confidentiality by keeping outside noise out.
Sustainable Infrastructure Practices Lead To a Rise in Market Demand
Eco-friendly/green buildings are expected to drive the growth of the market for electrochromic glass. Electrochromic glass is a growing market in part due to government regulations regarding energy conservation. Green building initiatives and eco-friendly structures, such as green buildings, are expected to offer market growth opportunities. Banks in Europe, for example, have devised a mortgage program for green homes that encourages the purchase of energy-efficient products such as smart glass. Recent years have seen smart glasses gain popularity due to their energy-saving features, thermal and acoustic insulation, and 3D design capabilities. A recent $240 million equity investment in Nexamp, a subsidiary of Diamond Generating Corporation (DGC), enables DGC to accelerate its decarbonization efforts while strengthening its innovative portfolio. The company’s sustainable energy services will be offered to an additional 65 million consumers and businesses if it receives the recent $440 million debt financing.
Construction and Automobile Sectors Are Growing:
Several factors contribute to the market’s growth, including the steady growth of the construction industry and the rise in infrastructure investments. Over the next few years, glass is also expected to gain traction over bricks and cement walls as consumers prefer glass. The building and construction sector is expected to continue dominating the electrochromic glass market over the forecast period as the main end-user industry in the market. Office, hospital, and residential buildings are driving this growth. They are commonly used in windows, doors, sunroofs, and display cases, among other applications. In the automotive market, rear-view mirrors, sunroofs, and windshields are among the fastest-growing products. Growth in the electrochromic glass market is also spurred by its increasing use in automotive. With Electrochromic Glass, Mercedes-Benz has manufactured 5 models. A light-blocking glass can be adjusted on the SLC roadster, the most affordable model. The use of Smart Glass by Mercedes is the next step in making the technology more widely available. Bentley Mulliner developed and built a comprehensive heating, ventilating, and air conditioning (HVAC) system. For the first time in a Bentley, electrochromic ‘smart glass’ separates the front and rear seats. At the touch of a button, the whole panel can be converted to opaque for complete privacy.
High-Cost May Hinder the Market Growth
While low awareness about the benefits of smart glass and high base costs are likely to impede demand to a certain extent over the forecast period, they could still hamper the market considerably. Technical advances and government subsidy schemes can reduce the overall cost by addressing these challenges. Innovation is another key factor that hinders the market’s expansion.
COVID -19 Insights:
Several major industries, including construction and automotive, have been halted by the outbreak of COVID-19. Several industries are kept closed or operated under restrictive conditions including shorter working hours and fewer employees. There was a shortage of workers and raw materials in the glass industry as a result of the pandemic. A number of industries were affected by the COVID-19 pandemic. Further, the glass industry is experiencing lower sales activity due to trade restrictions over national and international boundaries. With the slowdown of the construction industry, building glass demand also fell drastically.
In the United States, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed. Business owners who suffered from the pandemic were granted some relief. The act provided special loans to businesses and individuals facing economic hardship as a result of the epidemic. A number of small and medium-sized companies have managed to survive during the pandemic with the help of the act.
Electrochromic Glass Market Scope:
Role of Laboratory Automation in Promoting Patient Safety
BlogThe global laboratory automation market is projected to grow at a CAGR of 7.55% to reach the market size of US$6,055.218 million by the year 2026.
The use of equipment to execute laboratory procedures with little human intervention is referred to as lab automation. Automation may be utilised for anything from a single step in an experimental procedure to the full workflow. Robotics, computers, and software are currently used in a wide range of products.
Medical diagnostic laboratories, which frequently run the same tests over and again with standardized procedures, stand to profit greatly from automation. The automation of diagnostic laboratory operations has several advantages, including better consistency, greater laboratory staff efficiency, higher throughput, decreased turnaround time, and increased laboratory technician safety. These advantages have become even more relevant in the last year, as laboratories have been under intense pressure to clear testing backlogs, speed turnaround, and boost throughput while maintaining pre-pandemic staffing levels or lower in order to preserve social distancing measures.
Laboratory automation plays an important role in increasing reproducibility by minimizing data variability caused by human factors and the possibility for contamination induced by sample handling. Data variance induced by differences in procedure performance may go unnoticed during the experiment, but it will be visible in data sets and even published findings. Humans are prone to growing mental tiredness, physical weariness, and diversions, especially in diagnostic situations when the same activities are done again. Thus, automation lowers this unpredictability by minimizing the workload dependence on error-prone humans.
Lab automation improves laboratory efficiency by increasing worker productivity. The main advantage of automated operations is the amount of time saved, which can then be spent on other research. Each laboratory technician can perform many more tests due to automation.
Furthermore, automation improves laboratory safety by decreasing researcher exposure to samples by enabling automated technology to do the work. There is less risk of inadvertent exposure to toxic chemicals or possibly infected diagnostic specimens when humans handle fewer samples.
Pharmaceutical companies increasing their investment in R&D, stringent regulation in the healthcare sector, increased healthcare infrastructure in emerging nations, and the expansion of the pharmaceutical and biotechnology industries are all driving market growth. The market, however, is restricted by sluggish adoption of automation technologies in SMEs, as well as higher production and installation costs.
Pharmaceutical and Biotechnology Companies Increasing R&D Investments in the Pharmaceutical Sector Will Fuel Market Expansion
According to the India Brand Equity Foundation (IBEF), the Indian drugs and pharmaceuticals sector received a total of US$ 17.99 billion in FDI from April 2000 to March 2021. According to the European Federation of Pharmaceutical Industries and Associations, the European pharmaceutical sector invested an estimated € 37,500 million in R&D in 2019. The pharmaceutical and biotechnology sectors account for 18.7 % of overall corporate R&D investment globally, according to the 2019 EU Industrial R&D Investment Scoreboard. Furthermore, partnerships between pharmaceutical companies and healthcare stakeholders for R&D into drugs would boost the usage of lab automation thus driving the market growth.
Increased Healthcare Infrastructure in Emerging Nations Will Drive the Market Growth
According to the India Brand Equity Foundation, the Indian pharmaceutical sector supplies more than half of the global demand for various vaccines, 40% of the generic demand for the United States, and 25% of all medications for the United Kingdom. In 2019, the Indian biotechnology sector was worth US$ 64 billion, and it is anticipated to grow to US$ 150 billion by 2025. The domestic market is anticipated to triple in the next decade, according to the Indian Economic Survey 2021. The domestic pharmaceutical industry in India is predicted to be around US$ 42 billion in 2021, rising to US$ 65 billion by 2024 and expected to reach US$ 120-130 billion by 2030. Therefore, the increasing healthcare infrastructure in emerging nations will drive the demand for laboratory automation in developing countries.
Slow Automation Adoption in Small and Medium-Sized Laboratories Can Restrict Growth
The major barrier for laboratories wanting to integrate automation technology into their laboratory is cost. Commercially available automation technology is costly, and customised equipment for specific protocols is even more expensive. Cell culture is an example of a common, time-consuming procedure that has been used by researchers for generations. Although equipment to automate cell growth is available and can save many hours of researcher effort, it remains tantalizingly out of reach for most laboratories. These components can cost more than $1 million for a complete process system, putting them out of reach for the vast majority of academic laboratories. Many small and medium-sized laboratories also find it challenging to invest in automation due to financial barriers. The high maintenance and service expenses associated with laboratory informatics solutions are also a significant impediment. The cost of maintaining IT systems exceeds the cost of the program itself. Furthermore, a lack of risk-taking capabilities and data on the cost-effectiveness of automation solutions for small and medium-sized laboratories are impeding the growth of the lab automation market.
The North American Region Will Be a Prominent Player
The region’s significant market share can be attributed to the well-developed healthcare infrastructure and extensive adoption of novel revolutionary technology. Furthermore, the presence of major industry players in the area is likely to increase market demand. However, throughout the forecasted period, the Asia Pacific area is expected to see significant progress. Increased expenditures in healthcare infrastructure, increased use of sophisticated technology inside hospitals, and a rapidly rising R&D are expected to boost demand in the area throughout the predicted period.
The Impact of the Outbreak of COVID-19 on the Laboratory Automation Market
COVID-19 has compelled diagnostic laboratories to scale up services and extend testing capabilities, putting additional pressure on physical infrastructure as well as data management systems. In the midst of a global pandemic, errors in processing test results might have significant repercussions for disease transmission and undermine public faith in testing methods. Diagnostic laboratories were under intense pressure, with growing team capacity and quickly extending testing menus while dealing with labour shortages and the requirement to maintain safe, socially distant working conditions. Those diagnostic laboratories that have adopted lab automation have been among the most effective in reducing interruption and even prospering in these unforeseen settings. Forward-thinking laboratories have been able to swiftly return to near-full production while working in line with local social distance standards thanks to the flexibility that automated solutions provide.
Global Laboratory Automation Market Scope:
Architectural Perspective and Scalability of Phase Change Memory
Thought ArticlesThe Global Phase Change Memory Market is expected to grow at a compound annual growth rate of 66.71% over the forecast period to reach a market size of US$12,450.978 million in 2026 from US$347.914 million in 2019.
PCM, also known as PCRAM, is a kind of computer random-access memory (RAM) that stores data by changing the state of the matter from which the device is made. On a microscopic scale, the structure of PCM material may rapidly switch between amorphous and crystalline. It is a critical enabler technology for non-volatile electrical data storage on the nanometer scale. A PCM device is made up of two electrodes and a small active volume of phase-change material.
PCM memory is 500 to 1,000 times faster than standard flash memory. PCM technology may also provide unprecedented levels of cost-effective, high-volume, and high-density non-volatile storage.
The rise in the automotive sector, the increasing number of smartphone shipments, environmental concerns regarding reducing greenhouse emissions, and the growing global trend towards energy-saving and sustainable development are the major driving factors for the market. In May 2020, IBM realised that the rising demands of operations depending on deep neural networks in the domains of image and speech recognition, gaming, and robotics need better efficiency and created a method that uses phase-change memory to execute code faster and cheaper. The company also addressed the disadvantage of PCMs generating computational errors owing to read and write conductance noise by introducing such noise during AI training sessions. Intel announced in October 2020 that it will sell its NAND division to SK Hynix, a South Korean memory technology company, for $9 billion.
However, the high cost of materials and production processes, as well as the hazardous nature of phase change materials, are likely to hinder the market expansion.
An Increase in Smartphone Shipments
According to an IEEE Communications Society tech blog post, the global smartphone market increased by 28.1 % year on year in the first quarter of 2021, reaching total sales of 351.1 million units. The year-over-year shipment growth was 25.5%. In the first three months of 2021, Samsung surpassed Apple, delivering 76.1 million units, up 29.2 % year on year, to take 22 % of the market share. Apple followed with 46.5 % year on year growth to reach 56.4 million smartphones shipped in the quarter, comparable to 16 % of the market, with Xiaomi coming in the third position with 14 % after shipping 49.5 million units, up 78.3 % year on year.
According to the International Brand Equity Foundation, India exported 36 million smartphones in FY20, up from 17 million in FY19. The contribution of India to the global smartphone market rose from 9% in 2016 to 16% in 2019. According to the National Policy on Electronics 2019 (NPE 2019), a manufacturing target of 1 billion mobile phones is projected by 2025, with 600 million units for exports.
Micron announced in March 2021 that it will concentrate its investment on memory devices that use the Compute Express Link (CXL) and will discontinue the development of its 3D XPoint technology. The company stated that it aims to move efforts away from 3D XPoint memory products to CXL-enabled memory solutions. The increased shipping of smartphone units, combined with the introduction of innovative, sophisticated, and revolutionary solutions, is likely to fuel the growth of the Phase Change Memory market.
A Rise in the Automotive Sector Will Support the Market Growth
Electric cars will have a significant influence on the market in the coming years. According to the International Energy Agency, global sales of electric vehicles in 2019 were about 2.1 million. According to the International Council on Clean Transportation, global cumulative electric commercial car sales were estimated to reach 10 million in 2020, with electric vehicles accounting for a record-high 4.6 % of new commercial vehicle sales. Due to continued policy adoption and technological deployment, the number of high-volume electric commercial car models increased by 49 % in 2020, average battery pack cost decreased by 12 %, and public electric vehicle charger stock increased by 48 %. European countries such as France, the Netherlands, Norway, and the United Kingdom are on a path to meet their 100% electric car sales share targets.
STMicroelectronics provided the first stellar advanced automotive microcontrollers for the next generation of sophisticated car electronics, delivering new levels of productivity and safety in June 2021. In October of the same year, STMicroelectronics disclosed further information about its revolutionary Stellar automotive microcontrollers (MCUs), demonstrating how the chips enable reliable and predictable execution of several independent real-time applications. ST and Bosch collaborated on the development of deterministic high-performance open-market MCUs that can host a variety of applications, including safety and security virtualization via HW capabilities. The adoption of advanced microcontrollers will drive the growth in the phase change memory market in the coming years.
High Cost of Material and Manufacturing Process
The switching time and inherent scalability of PRAM make it particularly desirable. Its temperature sensitivity is arguably its most prominent disadvantage, one that may need adjustments in the manufacturing processes of businesses that use the technology.
Asia-Pacific Region Is Expected to Have a Prominent Market Share
China is expected to lead the market due to being home to many smartphone brands as well as huge adoption rates of the electric car.
According to an IEEE Communications Society tech blog post, Xiaomi’s growth rate reached 83%, making it one of the top five mobile phone brands with the highest market share growth rate. Xiaomi accounted for 17% of worldwide smartphone shipments in the second quarter of 2021, while Oppo and Vivo each accounted for 10%.
China has pledged to reach a peak in national CO2 emissions by 2030 and to achieve carbon neutrality by 2060. Truck and van manufacturers and business fleets have pledged to electrify their manufacturing and operations. While the trend toward zero-emission heavy-duty vehicles (ZE-HDVs) is still in its early stages, it is gaining traction. China is implementing its commercial vehicle New Energy Vehicle strategy to encourage the use of electric cars.
The European electric vehicle (EV) industry saw remarkable growth in 2020, with sales of commercial electric vehicles increasing by 143% over 2019. With strong sales in 2020, Europe surpassed China to become the world’s largest EV market. This occurred during a period of significant disruption in the automotive market as a result of COVID-19. Although total new car sales in Europe decreased by 20%, the jump in EV sales increased the EV proportion to 11%.
Electronics such as heating, ventilation, and air conditioning (HVAC) systems extensively use phase-change memory. The need for phase change memory in electronics is anticipated to rise throughout the forecast period due to rising domestic and global demand for electronics, as well as the shift of countries towards renewable energy.
The Coronavirus Pandemic Had a Negative Effect on the Phase Change Memory Market
COVID-19 had a negative influence on numerous universities and organisations throughout the world, halting research progress. The market for phase change memory was directly impacted by a drop in demand in end-user industries. However, as the economy improves, the demand for phase change memory is likely to rebound quickly.
Global Phase Change Memory Market Scope:
Exploring the Market for Embolic Protection Devices
BlogThe embolic protection device market is predicted to grow at a CAGR of 7.63 % to reach a market size worth US$1278.309 million by 2026. This market was valued at US$764 million in 2019.
The dissemination of plaque debris at the distal bed is prevented or reduced by embolic protection devices (EPDs), which increase the likelihood of a positive outcome. They are commonly used as part of saphenous vein graft (SVG) interventions as well as during carotid artery stenting procedures. As a result of the rising prevalence of cardio and neurovascular diseases and the increasing investment and funding flow into the development of technologically advanced devices, the global embolic protection device market has experienced strong growth. A number of other factors are likely to support the market, such as growing approval for embolic protection devices, expanding government initiatives, and increasing reimbursement for cardiac abnormalities.
The Rising Incidence of Cardiovascular Diseases Is Expected to Boost the Market
Increasing numbers of patients with heart diseases and neurovascular diseases should drive the market at a rapid pace. Cardiovascular diseases (CVDs) account for the majority of deaths worldwide, according to the World Health Organization. CVDs are estimated to have caused 17.9 million deaths in 2019, accounting for 32% of all global deaths. A heart attack or stroke was responsible for 85% of these deaths. Increasing awareness of the necessity for pre-diagnostics and better treatment will help the market in the coming years gain maximum revenue. According to the Centre for Disease Control and Prevention, one person dies every 36 seconds in the United States from cardiovascular disease. Each year, about 655,000 Americans die from heart disease or one in four deaths. The rising death toll has attracted the attention of government officials, thus more awareness programs are being conducted. Due to a steep rise in death rates due to strokes, more surgical procedures and medications will be necessary to treat the disease, which will promote the growth of embolic protection devices.
The Transcatheter Aortic Valve Replacement Procedure Is Becoming Increasingly Popular
Embolic protection is becoming an increasingly important factor in propelling growth for the embolic protection devices market due to its importance in transcatheter aortic valve replacement (TAVR). As a result of an increase in TAVR procedures, the demand for embolic protection devices has greatly increased. Over 276,000 transcatheter aortic valve replacements (TAVR) have been performed in the United States since 2011 when the first TAVR device was approved.
As reported by the Society of Thoracic Surgeons (STS) and the American College of Cardiology (ACC) TVT Registry, the volume of TVT surgery has been rising in recent years. Aortic valve implantation by TAVR surpassed surgical aortic valve replacement (SAVR) for the first time in 2019.
Market Growth Through New Product Launches
As the market demand grows, new products will be launched to meet the market’s demands, resulting in strong growth in the market throughout the coming years. The Venus Medtech Company Keystone Heart recently announced that its product TriGUARD 3 Cerebral Embolic Protection (CEP) had received a CE mark from the European Union. In 2018, Boston Scientific Corporation acquired Claret Medical, Inc., a prominent company whose Sentinel system protects the brain from thrombosis. TAVR procedures, which are widely used today, are particularly prone to injury to the brain. The device, says the company, is designed to protect the brain during such procedures. Among other leading players, Contego Medical, LLC, announced in April 2017 that its new product Vanguard IEPa had been certified for CE marking. This system incorporates Integrated Embolic Protection Mechanism for peripheral balloon angioplasty. Further, the Company plans to launch the product in Europe for use by endovascular specialists performing lower limb angioplasty procedures. It incorporates a distal embolic filter and a peripheral angioplasty balloon in one catheter, which is the latest innovation of Contego’s Integrated Embolic Protection (IEP) technology.
Health Care Sector Technological Advancements
Global embolic protection devices market outlook is forecast to be transformed over the next few years, as ongoing technological improvements in healthcare coupled with shifting consumer preferences towards procedures with a minimum amount of invasion are likely to influence the outlook. As an example, Innovative Cardiovascular Solutions announced in 2019 that its next-generation embolic protection system Emblok was successfully used in its European feasibility study with patients undergoing transcatheter aortic valve implantation (TAVI).
North America Is Expected to Grow at the Fastest Rate
It is expected that the North American market will grow most rapidly during the forecast period. This growth is due to an increase in diseases such as cardiovascular disease and neurovascular disease within this region. The prevalence of obesity and unhealthy eating habits has also been on the rise in this region. According to WHO, In 2016, there were more than 1.9 billion overweight people worldwide. There were more than 650 million obese adults among them. The prevalence of overweight adults under the age of 18 years in 2016 was 39%. The growth of the embolic protection devices industry in North America will be boosted by the solid foothold of dominant industry players.
COVID-19 Insights:
As the number of COVID-19-affected patients increases, medical devices demand is growing rapidly. Patients suffering from a viral infection can benefit from various respiratory devices such as oxygen generators, plasma atomizers, and life-support machines. Also, personal protective equipment, such as gloves, masks, and protective glasses, has become more in demand because of the virus. In light of the increasing number of COVID-19 cases worldwide and the virus’ emergence, the demand for medical supplies is steadily on the rise among medical professionals and the civil population. Due to the risk of infection spread, surgical procedures have been minimized, and thus, the market for embolic protection devices is experiencing a slower growth rate at the moment.
Embolic Protection Devices Market Scope:
Iris Recognition Outperforms Other Biometrics Almost
Thought ArticlesThe Global Iris Recognition Market is expected to grow at a compound annual growth rate of 15.51% over the analyzed period to reach a market size of US$1,857.427 million in 2026 from US$676.795 million in 2019.
Iris recognition, also known as iris scanning, is the process of photographing an iris of a person using visible and near-infrared light. It employs mathematical pattern recognition algorithms on video pictures of both irises, whose complex random patterns are stable, distinct, and visible from a distance. When compared to other biometric identification technologies, iris recognition outperforms them since it eliminates the possibility of collusions or false matches even when comparing across a large population. Iris recognition is not the same as retina scanning, which is an oscular-based biometric technique that scans the individual’s retina blood vessels.
The iris recognition sector is being driven by factors such as uniqueness, stability, and security. The iris pattern is more secure in nature because it harnesses the variety of textures and details present in the iris, such as coronas, furrows, freckles, and stripes. Furthermore, factors such as the inclusion of iris scanners into devices, greater application in government projects, a growth in the occurrence of fraudulent activities and security concerns, and rising demand from the consumer electronics segment are propelling the market. The market’s future looks promising due to the emergence of new opportunities such as an increase in the number of distribution channels, R&D activities, strong demand from the travel/immigration market, and greater corporate usage.
The market based on end-users is fragmented into segments such as consumer electronics, healthcare, BFSI, government, military and defence, automotive, and others. The consumer electronics and automotive sectors are expected to develop at a rapid pace throughout the anticipated period, resulting in increased demand for iris recognition technology.
Iris Recognition Technology Assist in Securing Data and Information and Protect Against Security Breaches
In a digitalized world where every activity can happen online, the emergence of cybercrime has put the safety of individuals and organisations at risk, resulting in financial or other losses. Furthermore, the increasing prevalence of smart devices increases the risk of robbery, hacking, data theft, and other offences. As a result, the demand for stronger technology promotes the growth of the market for iris recognition technology. Furthermore, with higher disposable income, there is an increase in demand for such smart gadgets that have improved operations. Smartphone sales, in particular, have created enormous development opportunities for iris detection technologies. Furthermore, with new technological advancements such as the launch of 5G networking and numerous smartphone applications, demand for smartphones is expected to skyrocket. With increasing digitization and internet penetration, smartphones provide users with access to banks, e-wallets, social media accounts, and other apps that contain critical information and so demand the highest level of security. As a result, iris recognition is gaining popularity as it is much more secure than other biometric technologies. ViewSonic was the first brand to use iris recognition in their ViewSonic V55 smartphones in 2014. Dubai International Airport, the world’s busiest airport for international travel, implemented iris-scanners in 2021, that confirm the identification of travellers and removes the need for any human interaction while entering or departing the country.
In the healthcare industry, the market adoption of iris recognition technology is being driven by the rising need for accurate patient identification and the need to decrease healthcare fraud. Realizing the need for secure identification in the healthcare system, hospitals and healthcare institutions are progressively implementing biometric technology such as iris recognition.
The evolution of current technologies and the development of multi-layered authentication systems at reasonable costs are projected to contribute to the global increase in the use of biometric technology in healthcare systems via iris recognition.
Due to new stringent regulations established by the Health Insurance Portability and Accountability Act (HIPPA) to preserve the confidentiality and privacy of patient information, the implementation of biometrics is also predicted to enhance security for patients, doctors, and nurses.
However, the Market Growth Is Hampered by Its Lack of Hack-Proof Security
A major impediment to market expansion is that even this biometric security approach is easily circumvented by technological hackers. There is no such thing as a foolproof biometric. Patients with acute iris inflammation (also called iritis or anterior uveitis) caused existing iris identification systems to fail. Other flaws that impede market opportunities include its inability to scan from afar and the inability to detect when the individual is moving.
North American Will Continue to Be the Prominent Market Region for the Iris Recognition Market
Because of the region’s early adoption of technology, the North American iris recognition industry is expected to expand and dominate the global market. In Iraq and Afghanistan, the US military utilized iris scanners to identify captives. For example, the handheld biometrics recorder SEEK II enables military troops to collect iris scans, fingerprints, and facial scans and instantly transfer the data to an FBI database in West Virginia, even in regions with a weak signal. Similarly, iris scanning technology has now been implemented by police agencies across the United States, as is typically the case with cutting-edge surveillance technologies designed for use in foreign battlefields. The New York City Police Department was among the first to implement iris recognition. In the fall of 2010, the department used BI2 Technologies’ mobile MORIS (Mobile Offender Recognition and Information System). The technology is also being added to the FBI’s growing biometrics portfolio. However, the Asia Pacific area is expected to expand at the fastest rate due to rising disposable income and increased adoption of smart gadgets such as smartphones and others.
The Coronavirus Epidemic Boosted Market Potential for the Iris Recognition Market
COVID-19 has a major influence on 2020 globally, but it has also provided an opportunity for production to modernize and digitalize on the path to recovery. Several industrial adopted the use of touchless technology, including the iris recognition solution, due to the covid pandemic. An increase in demand for the technology in public areas such as gyms, cooperative businesses, banks, clubs, and other locations also aided market expansion. Since coronavirus transmits through human touch, iris recognition technologies have seen an increase in market demand. Containment efforts, however, included a halt in the manufacturing sector and slow economic development, resulting in a drop in demand for consumer electronics and automobiles, which reduced demand for iris recognition systems. However, as the economy recovers, the market is expected to gain momentum.