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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global demand for condition monitoring services Market keytrends  is projected to surpass the valuation of US$ 6.79 Bn by 2031 end. As recommended by a replacement Future Market Insights (FMI) report, substantial growth within the condition monitoring service market is principally backed by the expansion of the facility generation industry. Which holds an outstanding share of the general market value, closely followed by the chemical and petrochemical industries.

The automotive, logistics, and petrochemicals industries, in particular, are well within the radar of the potential impact of the virus.  Several business executives have halted their manufacturing operations, given the large-scale lockdowns in the majority of countries.

Increasing urbanization and rapid industrialization are creating massive opportunities for key market players in the automotive & transportation industry, thereby bolstering the adoption of condition monitoring services in the global market. On the flip side, the current global coronavirus pandemic is expected to cost the global economy about US$ 1 Tn in 2022, as per the UN Conference on Trade and Development.

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Key Takeaways of Condition Monitoring Service Market Study

• According to our research, the portable machine diagnostic segment is shaping the revenue pool of the condition monitoring service market as the portable equipment is used to analyze data from the sensors, saving time of operation.
• In the current scenario, integration of condition monitoring software with computerized maintenance management services & process control software is an emerging trend in the global condition monitoring service market.
• North America is a prominent market for condition monitoring services and is expected to continue its hegemony, owing to its strong industrial growth and high adoption of the services in the region.
• In the global condition monitoring service market, over 55% of the revenue comes through vibration analysis and oil analysis segments. A rising focus on maintenance to minimize asset downtime is fueling the deployment of both techniques.

In order to minimize the asset downtime, it is necessary to monitor the assets continuously or in regular intervals, especially in facilities such as power generation and petrochemical plants. Given the criticality of highly accurate results in such facilities, manufacturers are striving to further develop condition monitoring software that can be integrated into the services to record the data.

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Condition Monitoring System Market by Category

By Technique:

• Corrosion Monitoring
• Infrared Thermography
• Motor Condition Monitoring
• Oil Analysis
• Ultrasound Testing
• Vibration Analysis

By Application:

• Aerospace and Defense
• Automotive and Transportation
• Chemical and Petrochemical
• Food & Beverage
• Marine
• Mining and Metal
• Oil and Gas
• Power Generation

  By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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The global EUV Lithography market demand sales were valued at around US$ 4,648.6 Mn by the end of 2021. The market is projected to register 21.5% CAGR between 2022 and 2029 reach a value of US$ 22,978.6 Mn by 2029.  EUV stands for extreme ultraviolet which refers to light’s wavelength. Increasing advance lithographic systems is one of the key factors accelerating the sales of this technology in the market.

FMI has identified Asia Pacific to remain a key market for EUV Lithography systems owing to the rising internet penetration as well as developing technology. The region is estimated to witness a value CAGR of 23.6% in the EUV Lithography market over the forecast period.

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Key Takeaways

The reduction of microchip sizes to incorporate them into shrinking semiconductors is one of the prime factors that resulted in the development of EUV lithography technology.

The emergence of artificial intelligence (AI), machine learning, industrial IoT (IIoT), and autonomous driving has been driving the miniaturization of microchips, subsequently creating the need for EUV lithography in chip manufacturing.

Constant innovation, R&D, and retrofitting of installed systems to improve wafer production, are anticipated to remain key trends in the EUV lithography market.

Integrated device manufacturers (IDM) and foundries are projected to create the bulk of the demand for EUV lithography systems, as they are responsible for the majority of the microchip and integrated circuit (IC) demand across industries.

Acquisition of stakes in key technology-based companies to complement product development is anticipated to remain a prominent trend in the market.

Currently, many IDMs and foundries are cautious in the adoption of EUV lithography in chip manufacturing, given the infancy of the technology and high upfront costs.

However, with continuous innovation and R&D, products are expected to become more efficient and cheaper.

EUV Lithography Market – A Monopoly

The EUV lithography market is led by a single manufacturer. ASML is the sole manufacturer of EUV lithography systems in the world today and holds a monopoly in the market.

The company is focused on acquiring stakes in key companies, which provide supporting technology for the manufacturing of EUV lithography systems.

It is also engaged in collaborations with solution providers to help in R&D and development of future generations of EUV lithography systems.

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Will EUV Dominate Lithography Systems?

In the present lithography market, EUVs are a new and upcoming technology, with the first commercial product being sold in 2016.

Given their ability to process light onto microchips of very small surface and with the growing adoption of technologies demanding miniaturization of microchips, EUV lithography market is anticipated to capture a huge market share of lithography systems in the coming years.

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Future Market Insights’ new market research report on the EUV lithography market includes global industry analysis for 2014-2021 and opportunity assessment for 2022-2029. The report details EUV lithography market demand by end use across three different regions, Americas, EMEA, and Asia Pacific.

The research report also offers global consumer electronics demand trend, impact of wide-scale 5G technology and IoT adoption, wafer production trends, installed base of EUV lithography systems as well as market demand patterns across the mentioned regions.

Global EUV Lithography Market by Category

By End Use :

• Integrated Device Manufacturer (IDM)
• Foundry
• Memory

By Region :

• Americas
• EMEA
• Asia Pacific

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global EUV Lithography market keytrends sales were valued at around US$ 4,648.6 Mn by the end of 2021. The market is projected to register 21.5% CAGR between 2022 and 2029 reach a value of US$ 22,978.6 Mn by 2029.

Extreme ultraviolet, or EUV, is a term used to describe the wavelength of light. One of the major drivers boosting the market adoption of this technology is the development of more advanced lithographic systems.

Because of the region’s growing internet usage and technological advancements, FMI believes that Asia Pacific will continue to be a significant market for EUV lithography systems. Over the course of the forecast, the region is anticipated to have an EUV Lithography market value CAGR of 23.6%.

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Key Takeaways

The reduction of microchip sizes to incorporate them into shrinking semiconductors is one of the prime factors that resulted in the development of EUV lithography technology.

The emergence of artificial intelligence (AI), machine learning, industrial IoT (IIoT), and autonomous driving has been driving the miniaturization of microchips, subsequently creating the need for EUV lithography in chip manufacturing.

Constant innovation, R&D, and retrofitting of installed systems to improve wafer production, are anticipated to remain key trends in the EUV lithography market.

Integrated device manufacturers (IDM) and foundries are projected to create the bulk of the demand for EUV lithography systems, as they are responsible for the majority of the microchip and integrated circuit (IC) demand across industries.

Acquisition of stakes in key technology-based companies to complement product development is anticipated to remain a prominent trend in the market.

Currently, many IDMs and foundries are cautious in the adoption of EUV lithography in chip manufacturing, given the infancy of the technology and high upfront costs.

However, with continuous innovation and R&D, products are expected to become more efficient and cheaper.

EUV Lithography Market – A Monopoly

The EUV lithography market is led by a single manufacturer. ASML is the sole manufacturer of EUV lithography systems in the world today and holds a monopoly in the market.

The company is focused on acquiring stakes in key companies, which provide supporting technology for the manufacturing of EUV lithography systems.

It is also engaged in collaborations with solution providers to help in R&D and development of future generations of EUV lithography systems.

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Will EUV Dominate Lithography Systems?

In the present lithography market, EUVs are a new and upcoming technology, with the first commercial product being sold in 2016.

Given their ability to process light onto microchips of very small surface and with the growing adoption of technologies demanding miniaturization of microchips, EUV lithography market is anticipated to capture a huge market share of lithography systems in the coming years.

Know More About Report Inclusions

Future Market Insights’ new market research report on the EUV lithography market includes global industry analysis for 2014-2021 and opportunity assessment for 2022-2029. The report details EUV lithography market demand by end use across three different regions, Americas, EMEA, and Asia Pacific.

The research report also offers global consumer electronics demand trend, impact of wide-scale 5G technology and IoT adoption, wafer production trends, installed base of EUV lithography systems as well as market demand patterns across the mentioned regions.

Global EUV Lithography Market by Category

By End Use :

• Integrated Device Manufacturer (IDM)
• Foundry
• Memory

By Region :

• Americas
• EMEA
• Asia Pacific

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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In 2022, sales in the robotic gripper market overview are anticipated to reach US$ 1.6 billion. By 2028, the market is anticipated to grow at a healthy 9.8 percent CAGR and reach US$ 2.8 billion in value.

A recent market research study by Future Market Insights on the robotic gripper market includes an opportunity estimate for 2022–2028 and a global industry analysis for 2014–2021. The report examines the robotic gripper market and offers significant predictions for the period from 2022 to 2028.

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The report’s findings indicate that a number of variables, such as the application of smart materials for enhanced capabilities, the widening scope of applications, and the rise in the number of end-use industries, are anticipated to drive the global robotic gripper market to significant growth over the forecast period.

Increases in the automotive, semiconductor, and electronic industries, the launch of a particular gripper portfolio, and a rise in robotic automation in certain places like East Asia have all played major roles in this expansion.

Owing to the rapid growth of factory automation in East Asia and other nations including Singapore, Malaysia, and more, the demand for robotic grippers is expected to grow at an impressive pace. According to the FMI analysis, the onset of Industry 4.0 is further expected to increase the adoption of robotic grippers in smart factories. 

A list of Key Players Covered in the Robotic Gripper Market are:

• SCHUNK GmbH & Co. KG
• Soft Robotics, Inc.
• Piab AB
• Applied Robotics
• ABB Limited
• Grabit Inc.
• Yaskawa America, Inc.
• J. Schmalz GmbH
• Festo AG & Co. KG
• Onrobot

Surplus Growing Opportunities in the East Asia Market

Japan is one of the significant countries in robotic automation and is expected to show an upsurge in the robotic gripper market. South Korea has a high number of robot-10,000 employee ratio, in China is expected to register a high growth rate in recent years, owing to high labour costs and increased automation. These countries have a major share in the global robotic gripper market, hence East Asia is expected to generate substantial growth opportunities for the robotic gripper market.

Use of Innovative Smart Materials to Surge the Market Growth

The global robotic gripper market has been segmented based on the different types of grippers, multiple jaw types, their multiple operations, different segments of applications, end-use industry and regions such as Americas, EMEA (Europe, Middle East and Africa), SAP (South Asia Pacific) and East Asia.

• Robotic gripper technology has been incessantly growing in recent years, consecutively growing the robotic gripper market. The use of smart materials to make more adaptive and flexible grippers is taking place. More advancement is expected to happen in electric and pneumatic grippers which will help the robotic gripper market grow exponentially.
• Concerningto application robotic gripper market is expected to show a large growth in the material handling segment as it is prominently used in the end-use industry. Followed by the general assembly segment which is projected to have a fair share in the market growth.
• Automotive industry is one of the significant drivers of the robotic gripper market followed by the electronics and semiconductors industry. The availability of a vast gripper range that is application-specific enhances the precision and speed requirement in these industries.

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Robotic Gripper Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global robotic gripper market. A few examples of key players in the market are Soft Robotics, Inc., Piab AB, Applied Robotics, ABB Limited, Grabit Inc., Yaskawa America Inc., J. Schmalz GmbH, Festo AG & Co. KG, Onrobot, Bastian Solutions, COVAL VACUUM TECHNOLOGY Inc., and Brenton Engineering, among others. The global robotic gripper market players are primarily focusing on the development of the product, such as flexible robotic gripper, electrostatic robotic gripper, and vacuum robotic gripper, that can react more and more similar to the human arm and has a wide range of payload capacity for different end-use industries to gain a greater share in the robotic gripper market.

Robotic Gripper Market by Category

By Product Type:

• 2-Jaw Grippers
• Angular & 3-Jaw Grippers
• O-Ring Grippers
• Needle Grippers
• Vacuum Cups
• Magnetic Grippers
• Special Purpose Grippers
• Others (Electrostatic, Bellow, Toggle)

By Application:

• Material Handling
• General Assembly
• Inspection & Others

By End Use:

• Automotive & Transportation
• Electronics & Semiconductors
• Food & Beverages
• Chemicals & Pharmaceutical
• Logistics
• Healthcare
• Others

By Region:                                                       

• Americas
• EMEA
• South Asia & Pacific
• East Asia

Competition Landscape

Leading players present in the robotic gripper market are aiming to conduct research and development activities to come up with unique electric vacuum grippers to cater to the high demand from factories across the globe. With the ongoing development of smart factories and adoption of factory automation, key players are likely to launch highly innovative products to ensure a reliable pick-and-place operation at the workplace. Meanwhile, some of the other manufacturers are planning to invest huge sums in the establishment of robust distribution networks to compete in the market.

For instance,

• In January 2022, researchers at Biomimetics and Dextrous Manipulation Lab at Stanford University created a robotic hand named farmHand. It is capable of handling various items, such as angle grinders, raw eggs, basketballs, jugs of liquids, plates, and even bunches of grapes. It is equipped with multi-jointed fingers that resemble a human hand and these are topped with gecko-inspired adhesives.
• In December 2021, engineers at the National University of Singapore (NUS) developed a reconfigurable hybrid robotics system called Soft Touch inspired by the human hand. This robot hand gripper can manipulate and grip a range of different objects from delicate, soft, and small things to bulky, heavy, and large ones. This development would help those industries that rely on the dexterity of human beings, including fast-moving consumer goods packaging, vertical farming, and food assembly.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.

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The global industrial robotics market review is estimated to surpass US$ 96.82 Bn by the end of 2028. Rising emphasis on enhancing the productivity of high-volume production lines, particularly in the manufacturing of semi-conductors and electronic devices is favoring the growth in the market.

East Asia is projected to emerge as the most remunerative industrial robotics market, accounting for more than 2/3rd of the revenue share by 2022. Based on end use category, automotive and electronics industries are anticipated to collectively account for a dominant share in the global market through 2028.

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As per the findings of the report, the global industrial robotics market is projected to indicate substantial growth over the forecast period due to multiple driving factors such as adoption of Internet of Things (IoT) in industries and growing digitalization of manufacturing industry across geographies.

East Asia is estimated to hold significant market share in terms of value in the global industrial robotics market. However, the South Asia market is projected to project lucrative growth in the global industrial robotics market over the forecast period of 2019-2029. This growth is propelled by the rapid growth in the factory automation rate in countries of South Asia and East Asia such as China, India, and Vietnam, among others. The economic condition of these countries have been evolving positively.

Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of industrial robotics market in the East Asia region.

Automotive Industry to Remain Key End-use Industry of Industrial Robotics

The global market of industrial robotics has been segmented on the basis of different types of industrial robots, their multiple applications, end use industries, and regions such as North America, South Asia, Europe, East Asia, and the Rest of the World.

By product type, the articulated robots segment is estimated to hold a significant share of the global industrial robotics market in terms of value. This has mainly resulted from the rising productivity in manufacturing processes and improving quality of products. On the basis of end use, the automotive industry is estimated to hold substantial market share of the industrial robotics market in terms of value. This is driven by digitalization of manufacturing processes. Moreover, it is expected that the application of industrial robotics in the electrical/electronics industry will be prominent throughout the forecast period.

On the basis of application, the handling operations segment is projected to consume majority share of the global industrial robotics market value. Also, the welding segment is estimated to project lucrative growth in the industrial robotics market over the forecast period.

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Industrial Robotics Market: Vendor Insights

The report indicates some of the prominent market players, who are recognized as leaders in the global industrial robotics market. These key market players in the global industrial robotics market are Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd, Kuka AG, Mitsubishi Electric, Teradyne Inc. (Universal Robots), ABB Ltd., Yamaha Motor Co., Ltd., Hirata, Corporation, and Denso Wave Incorporated, among others.

Industrial Robotics Market by Category

By Product Type :

• SCARA Robots
• Delta Robots
• Cartesian Robots/ Gantry Robots
• Articulated Robots
• Collaborative Robots (limited segments)
• Dual-arm Robots

By Application :

• Assembly/Disassembly
• Clean Room
• Dispensing
• Handling Operations
• Processing/Cutting
• Welding
• Painting & Coating
• General Applications

By End Use :

• Automotive Industry
• Electrical/Electronics Industry
• Rubber & Plastics Industry
• Metal & Machinery
• Food & Beverages
• Plastic & Auxiliary Chemical Products
• Auxiliary Industries
• Bulk Commodities & Materials

By Region :

• North America
• Europe
• South Asia
• East Asia
• Rest of the World

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI), the global building automation systems market overview totaled US$ 44.6 Bn in 2021.

Building automation systems will experience tremendous advancements during the anticipated time period, which will be accelerated by the rise of connective technologies like cloud computing, artificial intelligence, and machine learning. FMI anticipates that the market will expand at a robust 7.8% CAGR between 2021 and 2031.

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After buckling the impacts of the unprecedented COVID-19 outbreak, the global building automation systems market experienced year-over-year growth by 7.0% between 2020 and 2021.

Building automation systems offer interconnectivity of machines and devices to manage and streamline daily operations in commercial, industrial, and residential sectors. Growing demand for convenience and comfort among tenants in modern residential spaces will continue providing tailwinds to BAS sales.

Besides this, the emergence of smart cities across several countries is spurring the demand for building automation systems. These systems facilitate energy efficiency, water and gas supply, lighting, and temperature control, along with superior security and surveillance in residential as well as commercial buildings.

As per FMI’s in-depth regional analysis, the U.S. is anticipated to witness high demand for building automation systems during the assessment period. Growth in the commercial sector, coupled with penetration of building automation systems in schools, universities, hospitals, and entertainment centers are estimated to fuel market growth through 2031.

“Government-backed initiatives to encourage the development of smart buildings, coupled with post-sales assistance and services offered by market players will positively shape the demand outlook in the building automation systems market,” says the FMI analyst.

Key Takeaways:

• Building automation system services are estimated to dominate the product segment.
• Sales of security and surveillance building automation systems will remain high through 2031.
• Applications of building automation systems in the commercial sector will continue gaining momentum.
• The U.S. is expected to witness high demand for building automation systems, owing to expansions in the residential and commercial sectors. FMI projects the North American market to grow at a positive 7.2% CAGR.
• Growth prospects in the U.K. are projected to be bright, due to stringent government regulations regarding energy efficiency and conservation. The European building automation systems market is poised to expand at a 7.0% CAGR.
• China will emerge as an attractive market, owing to government initiatives promoting the development of smart cities.
• South Korea and Japan will collectively account for 7% of the total market share.

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Competitive Landscape

Honeywell International, Schneider Electric, Siemens AG, ABB, Johnson Controls, Plc, Delta Electronics, Inc., Eaton Corporation, Bosch Rexroth, Emerson, AVASGLO Group, Signellent Technologies (India) Pvt. Ltd., Comnatz Thailand Company Ltd, Deos AG, MCS Automation Technology Company Ltd., and Philips Lighting are some prominent players operating in the building automation systems market profiled by FMI.

As per FMI’s analysis, top 5 players in the building automation systems market comprise Siemens AG, Honeywell International, ABB, Schneider Electric, and Johnson Controls, plc, accounting for 44% of the total market share.

Prominent players in the building automation systems market are focusing on intensive research and development to add new products and services to their product portfolios. Apart from this, strategic collaborations, acquisitions, and mergers will remain key growth strategies among market players in the upcoming decade. For instance:

• In August 2021, Schneider Electric released its new EcoStruxure Micro Data Centre architectures on Stratus Technologies’ ftServer edge computing platforms to move data center capabilities to factory floors. These systems integrate Stratus’ fault tolerance and virtualization with Schneider’s uninterrupted power supply and run critical equipment with no downtown.
• In July 2021, Germany’s Bosch Rexroth and Gamuda Engineering announced a collaboration to offer building automation systems in the Malaysian construction industry. The collaboration is aimed to raise the Malaysian construction industry’s competency in automation.

More Insights on the Building Automation Systems Market

In its latest report, FMI offers an unbiased analysis of the global building automation systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (hardware, software, and services), system type (security & surveillance, HVAC, lighting solutions, and building energy management), application type (commercial, residential and governmental), and across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East, and Africa).

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global consumer appliances market Review is expected to reach US$ 539.9 Bn by the end of 2029, in comparison to the US$ 383.8 Bn registered in 2021. Increasing demand for advanced and innovative technologies that help in fulfilling daily life chores in hassle-free ways is favouring the growth in the market.

Future Market Insights (FMI), in its new study, analyses the consumer appliances market and offers actionable insights on its growth prospects for the period 2022 and 2029. According to the study, worldwide sales of consumer appliances reached 383.8 billion units in 2021, and are estimated to register a Y-o-Y growth of 3.7% in 2022. The study opines that the impact of smart technologies is being witnessed in the market, with many players launching connected and smart devices to meet consumer expectations.

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Rapid digitalization and strong knowledge regarding use and efficiency of modern appliances have been largely contributing to the market growth. Steady economic growth in several countries and rising need for comfort are influencing consumers to upgrade their existing appliances to smarter variants. In addition to providing convenience, reducing manual efforts, and saving time, manufacturers are focusing heavily on product innovations to satisfy the evolving needs of their customers.

Technology is surely bringing a paradigm shift in consumer appliances industry, and FMI’s study analyses that stakeholders are helping consumers achieve their energy conservation goals through green technologies and sustainable-centric innovations. Impressive developments in smart connectivity area are also set to gain momentum in the coming years, representing a substantial competitive advantage for the market players.

White Goods Capture Robust Share over Brown Goods

According to the study, white goods such as refrigerators, washing machines, and air conditioners have garnered relatively high traction as compared to brown goods. In recent times, these products have become standard in almost every household, backed by availability at affordable prices. Additionally, provision of smart connection in white goods, along with fast urbanization and rural electrification, especially in developing economies, remained instrumental in accelerating the overall sales of consumer appliances. Far from being confined to bigger appliances, manufacturers are also working on incorporating robotic technologies in small appliances to provide user-friendly interface and enable ease of operations.

As smart homes become a reality all over the world, the FMI study opines that demand for consumer appliances from households or domestic segment will continue to grow at a significant pace. Introduction of technologically advanced models which can be connected to smartphones and controlled remotely along with rise in per capita income is likely to remain a key to gaining distinct competitive edge.

Opportunities galore for consumer appliances market stakeholders, as identified by FMI study with growing working population and rapid infrastructural development, resulting into increasing number of hotels, salon & grooming parlors, and quick service restaurants (QSRs).

According to the study, growth prospects of the consumer appliances market are high in Europe, owing to strong presence of reputed brands which continuously focus on fulfilling consumers need for appliances that can perform maximum tasks with minimal resources. Newer opportunities are expected in Asia Pacific stemming from a number of trends such as increased purchasing power, growing middle class population, advances in digital transformation, and favourable government policies that encourage the use of energy-saving appliances.

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As the importance of internet increases and e-commerce sites see an upsurge, stakeholders are implementing Omni-channel marketing strategy to reach wide range of customers across the globe. According to the study, sales of consumer appliances through online sales are likely to register a CAGR of 4% during the forecast period.

FMI’s business intelligence offers an incisive outlook on competitive scenario of consumer appliances market by discussing key strategies adopted by the players. The market shows a high level of fragmentation, with a large number of regional and local players restricting the geographical expansion of international companies. Prominent players are thus focusing on strategic collaborations and joint ventures for increased production capacities and enhanced customer base.

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The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analysing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry

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In 2022, sales in the world market for calibrators market analysis are anticipated to reach US$ 924.7 billion. By 2029, the market is anticipated to grow at a healthy 4.1% CAGR and reach US$ 1.2 billion in value.

According to the function and form of the equipment that needs to be calibrated, a huge variety of calibrators are easily accessible, which is expected to promote sales in this market.

The rising usage of pressure calibrators to assure the accuracy of various instruments and to raise the bar for product quality is another factor that will likely cause the market to increase.

Additionally, it is projected that a number of industrial verticals, including semiconductor, automotive, and aerospace & defence, would have a significant need for multifunction calibrators, supporting the growth of this market. Additionally, the usage is increasing.

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While all engineers need better measurements, certain industries drive the calibration equipment market — heavily regulated industries such as medical, pharmaceuticals, aerospace/defense, automotive, and food drive calibration.

In 2018, EE Times reported on how pharmaceutical and medical industries drive calibration when we visited a calibration lab.

While not as heavily regulated, electronics and semiconductors also need verifiable measurements that are traceable to national and international standards.

In electronics, electrical measurements include voltage, current, resistance, power, and frequency. Physical measurements include temperature, pressure, flow, and weight. Temperature is, by far, the most common measurement.

FMI reports that the market value for calibration equipment was US$833.1 million in 2018. According to the report, the market value will grow with a compound annual growth rate (CAGR) of 6.2% over the period from 2019 to 2027.

While temperature, pressure, and electrical calibration equipment continue to be the most popular, pressure calibrators make up the largest segment by dollar value.

The report breaks down the calibration equipment market by region and industry. That breaks down to North America, Europe, the Middle East, Japan, Asia Pacific, and Latin America.

According to the report, the top companies in calibration equipment are Fluke Calibration, Yokogawa, AMETEK, and General Electric. There are a host of other players such as Beamex and Extech. For a comprehensive list, see the NCSL International Symposium exhibitor list.

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Competition Landscape

Leading players in the global calibrators market are conducting exhaustive research and development activities to introduce cutting-edge multifunction calibrator solutions for a wide range of industries. Meanwhile, some of the other companies are expanding their geographic presence and distribution networks to strengthen their positions in the market.

A few others are engaging in joint ventures, partnerships, mergers, and acquisitions to accelerate production of digital calibrators for catering to the high demand from various industries.

For instance,

• In December 2021, Leuze Electronic, a specialist for innovative and practical solutions in the field of optical sensors for factory automation based in South Germany, launched novel sensors that do not need to be set up manually each time the product is changed. These can be connected via IO-Link that provides continuous monitoring and reproducible remote calibration. These features would make the sensor solutions ready for Industry 4.0 and easier to integrate these within novel packaging machines.
• In November 2021, AMETEK STC, a leading manufacturer and developer of calibration instruments headquartered in Denmark, introduced its latest JOFRA RTC-168 Reference Temperature Calibrator to help customers operating in the food and pharmaceutical industries in calibrating the sanitary sensors. The new product is equipped with an innovative design that would enable sanitary sensors with large flanges to come closer to the temperature uniformity zone quickly.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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