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Magnetic Field Sensors Market Segmentation and Analysis by Recent Trends, Consumption by Regional data, Development, Investigation, Growth by 2027

Magnetic Field Sensors market is growing significantly due to increasing applications of these Magnetic Field Sensors in various industries such as healthcare, consumer electronics, aerospace and defense and others. Moreover, the rising use of these Magnetic Field Sensors for monitoring temperature, detect changes, and provide an interface that can sense, process, and/or control the surrounding environment.

Magnetic field sensor can be called as a device that is used to understand the magnetic field around coil or some electrical device. These Magnetic field sensor includes rotating sensor tip that measures both transverse and longitudinal magnetic fields around the particular objects.

Moreover, these Magnetic field sensors includes Hall Effect transducer that helps in measurement of vector component of magnetic field near to the sensor tip. Furthermore, Magnetic field sensor used to measure two ranges of magnetic field; measurement of strong magnetic fields across permanent electromagnets and measurement of weak magnetic fields such as Earth’s magnetic field.

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Magnetic Field Sensors Market: Drivers and Challenges

The major factor driving the adoption of Magnetic Field Sensors market is the increasing government support for development of eco-friendly vehicle. Moreover, continuous development in the market of automobile infotainment systems is also helping this market to grow. Other factors that are driving this magnetic field sensors market are the growing usage of high quality sensing devices and increasing applications of magnetic sensors such as navigation.

The key challenge for Magnetic Field Sensors market is high cost of development. The process of developing magnetic field sensors is too long and requires huge amount to be invested due to which manufacturers of magnetic field sensors face difficult in developing these sensors in a shorter period of requirement. Moreover, while in development process lack of infrastructure, supporting capabilities and economy of scale to compete against IDMs acts as another factors that restraints this market from growth.

Key Contracts

In October 2016, AMS, a sensor and analog solution provider has entered into the agreement to acquire Heptagon, an optical packaging and micro-optics solution provider. This acquisition will help AMS to improve its positioning in optical sensing technologies market.

In March 2016, Analog Devices has entered into the agreement to acquire SNAP sensor SA, a sensing technology provider. This acquisition will help Analog Devices in increasing its client base and position in sensing, signal processing and platform-level Internet of Things (IoT) solutions market.

In Magnetic field sensors market there are many vendors some of them are Analog Devices, AMS AG, NXP semiconductors, MEMSic, Honeywell, Infineon technologies and others

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Regional Overview

Presently, North America is holding the largest market share for Magnetic Field Sensors market due to high adoption of these sensors in various industries such as automotive, consumer electronic and healthcare. There is a high adoption of these magnetic field sensors because they outperform potentiometers, reed sensors, and mechanical switches at higher performance levels due to their robustness and the elimination of mechanical wear, a common source of premature failure. MR sensors feature inherently low hysteresis and high linearity for improved measurement accuracy.

In Europe and Asia Pacific regions, the market for Magnetic Field Sensors is witnessing high growth rate due to the increasing demand due to their ability to enhance the user navigation experience in consumer electronic devices.

Magnetic Field Sensors Market: Segmentation

Segmentation on the basis of type:

MEMS based magnetic field sensors
Hall effect magnetic field sensors
Fluxgate sensors
Magnetoresistive sensors
Others

Segmentation on the basis of application:

Navigation
Flow rate sensing
Position sensing
Proximity detection

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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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Cloud Managed Services Market Analysis, Future Growth, Segmentation, Competitive Landscape, Key Trends and Forecast by 2027

Cloud Managed Services are being demanded significantly due to rising usage of cloud based applications among businesses for storing their data over the cloud. The cloud based applications are increasing adopted due to its cost efficiency and economical manner for storing data.

The growing usage of cloud based application has encouraged businesses to take help from managed service providers to manage their cloud based applications. These cloud managed service allow user to configure application service at any level, and at any stage of the cloud.

Cloud Managed Services provides help in enhancement of IT infrastructure that needs to be managed in collaboration with third party through cloud platforms.

These services include managed network operations, managed security operations and other operations. These also improve efficiency of a company by providing them competencies in which they are lacking or replace the functions that incurs higher cost to company.

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Cloud Managed Services help enterprises to focus on their business related critical activities and provide third party management to their cloud based applications. Cloud Managed Service providers help in managing business process services, storage services, hosted services, application management services, maintenance services, security management services and others.

Cloud Managed Services Market: Drivers and Challenges

The major factor driving the adoption of Cloud Managed Service is the rising cloud technology adoption among businesses for managing their application. There has been significant rise in the adoption of cloud based technology as it is less costly and provides real time access and updates to business application. Moreover other factors that are helping this market to grow are increasing usage of cloud services among SMEs, and increasing third party cloud managed service offerings.

The key challenge for Cloud Managed Service is the risk of private information leak. The cloud based offerings faces security risk due to lack of security technologies developed to secure cloud based applications. Moreover, third party management for cloud based application increases risk of data theft and data misuse due to which many companies do not select cloud managed services.

The other challenges that are restricting this market to grow are lack of efficient cloud managed service technology and lack of supporting IT infrastructure.

key Contracts

In September 2016, Cognizant has entered into the partnership with Oracle to provide cloud managed service to their clients. This partnership will help Oracle to provide their customers cloud managed solution and services efficiently with the help of Cognizant.

In August 2016, Telarus, a cloud infrastructure service provider has entered into the partnership with Fusion, a cloud service provider. This partnership will help Telarus to offer its customers fully integrated suite of cloud communication, cloud connectivity and managed network services through its distribution network.

In Cloud Managed Services market there are many vendors some of them are Vodafone, Cisco, Accenture, Huawei, Ericsson, Alcatel-Lucent and others.

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Regional Overview

North America is holding the largest market share currently for cloud managed service market due to high adoption of digital technologies among small and medium business. The adoption of cloud application and cloud platform is also impacting the market for cloud managed services in a positive manner. Companies such as IBM is also working towards the development of cloud managed service platforms with the partnerships and acquisitions in this market to enhance market opportunities.

In Europe region, the market for cloud managed services is witnessing high growth rate due to the increasing demand for managed service for network operations, security management, and cloud application management.

The Asia Pacific region is following the Europe region in cloud managed service market. This market is expected to have the highest growth rate in coming years due to the adoption of cloud based business application and growth in the cloud service providers.

Cloud Managed Services Market: Segmentation

Segmentation on the basis of services:

Managed network services
Managed security services
IT infrastructure management services
Managed mobility
Cloud managed applications service

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Asset Management System Market Assessment and Key Insights Analyzed till 2027

Asset Management System market is growing significantly due to increasing progressively to track the company’s products, to make entry of assets in the spreadsheet or in purchasing asset management software to handle and manage the business processes.

Asset management is a system used by an enterprise to track, maintain, and keep record of company’s assets. It includes both digital as well as physical assets such as equipment, and intellectual property. The implementation of asset management system help organization to track assets to enhance workflow and productivity, maintain record of losses and profits, reduces the chances of loss and misplacing of asset.

With the rising adoption of newer and modern technologies such as big data and cloud, the companies are using asset management systems by integrating asset management tools with big data and analytics. Moreover, the rising implementation of complex and interconnected infrastructure has encouraged organizations to adopt asset management systems that can help in managing operation technologies to gather more important data and information.

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Asset Management System Market: Drivers and Challenges

The major factor driving the adoption of Asset Management System is the requirement of streamlining the operations in the organization. The implementation of Asset Management System can help enterprise in reducing the time wasted for recording data by inefficient tracking methods and manually recording data. Moreover, the adoption of Asset Management System allow enterprises to focus on complex task of business rather than asset tracking activities and helps in increasing business profits by reducing unnecessary expenses on assets.

The key challenge for Asset Management System market is the maintenance of assets and collaboration of all the functional departments of an organization to use Asset Management System. Moreover, another challenge for the Asset Management System market growth is the high cost of solutions and expenses in maintaining and training employees. Moreover, difference in pricing complicated trade-off between accuracy are acting as a restraint for this Asset Management System market to grow.

Key Contracts

In October 2016, BaxEnergy asset stack solution provider has entered into an agreement to acquire 4M consulting to enter into the asset management market. This acquisition will help BaxEnergy to improve its offerings and introduce tailor –made asset management solutions by 4M.

In October 2015, FactSet acquired Portware an executive management system provider. This acquisition will help FactSet to improve their tools and services of asset management system with the help of Portware’s executive management system.

In Asset Management System market there are many vendors some of them are Trimble, Portware, Honeywell, Datalogic, Zebra technologies, IBM, AssetWorks, Hardcat, CityWorks and others

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Regional Overview

Presently, North America is holding the largest market share for Asset Management System market due to high adoption of digital technologies among individual for recording asset tracking. The adoption of cloud deployment model is also impacting the market for Asset Management System in a positive manner.

Companies such as IBM is also working towards the development of Asset Management System platforms with the partnerships and acquisitions in this market to enhance market opportunities.

In Europe region, the market for Asset Management System is witnessing high growth rate due to the increasing demand for mobile based asset tracking apps and monitoring asset usage in the company.

The Asia Pacific region is following the Europe region in Asset Management System market. This market is expected to have the highest growth rate in coming years due to the adoption of digital asset management solutions

Asset Management System Market: Segmentation

Segmentation on the basis of Software:

Asset tracking software
Fixed asset inventory management software
Web based asset tracking software
Cloud based asset tracking management software
Enterprise asset management software

Segmentation on the basis of Applications:

Asset tracking
Audit management
Cost tracking
Procurement management
IT service management
Compliance management

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Robotic Vision Market Report | Size, Growth, Demand, Scope, Opportunities & Forecast by 2026

Robotic vision comprises of vision algorithm, calibration, temperature software & cameras that are used to identify and determine the position of all the objects in robot workplace. Apart from identification and navigation, robotic vision also facilitate robots to analyse, interpret, extract and characterize the image information and to make description accordingly.

Robotic vision technology provides several benefits including improvement in quality, reliability, safety and productivity. Performance of robotic vision depends on the effective communication between robot system & application and control over the environment.

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Robotic Vision Market: Drivers and Restraint

Intelligent homes are specifically designed for the ageing population, where robots are capable to assists the elderly people in day-to-day tasks. The demand for intelligent homes is continuously increasing, as the ageing population is growing with significant rate across the globe.

Increase in demand for intelligent homes, government regulations about sanitation in food processing industry and rising need of precise, safe and reliable vision guided robots in different verticals are major driving factors of the robotic vision market.

However, high initial investment and lack of global standards for robotic implementation are some of the major challenges for the robot vision market.

Robotic Vision Market: Segmentation

On the basis of component, the market can be bifurcated into hardware and software. Hardware segment consists of camera, sensors, lightning, and optics. Camera, sensors, lightning and optics incorporate with each other in order to facilitate the collapsible free movement of robot in environment.

Camera, lightning and optics are used to capture the images while sensors allows obstacle free movement of robots. Software segment is composed of object tracking and image processing software.

Robotic vision has high demand in wide range of industries including food processing, automotive and aerospace for several applications. On the basis of applications, the robotic vision market is segmented into inspection & testing, material handling, manufacturing, assembling and packaging.

Manufacturing and packaging are the dominating segments in the category, as the governments across the major countries maintain stringent sanitation standards in food processing & packaging industry.

On the basis of type, the market can be categorised in to 3D and 2D. 3D vision is more precise and capable of providing accurate dimensional data of an object. Currently, 3D robotic vision systems are more expensive than 2D and restricted for specialised operations.

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Segmentation on basis of Region

Robotic Vision Market is segmented into 7 key regions- North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.

Robotic Vision Market: Region-wise Outlook

North America was the largest market of robotic vision in terms of consumption in 2015. US was the leading market in the region, as there was significant growth in rate of deployment of reliable and precise vision guided robot systems in food and manufacturing industries in 2015.

By the end of year 2015, Asia Pacific was the fastest growing market for robotic vision, due to significant growth in demand for industrial robots in manufacturing and automotive industries in the region. China, South Korea and Japan were the leading regional markets in Asia Pacific.

Robot vision market in Europe is driven by the metal, automotive and food & beverage industry. Germany was the largest market in the region in terms of volume consumption in 2015.

Robotic Vision Market: Key Players

Omron Adept Technologies, Inc (US),? ComauS.p.A.(Italy), MVTec Software GmbH (Germany), Matrox Electronic Systems Ltd. (Canada), ABB Ltd (Switzerland), Point Grey Research, Inc. (US),Cognex Corporation (US), Matrox Electronics Systems Ltd (Canada), Keyence Corporation (Japan), IVISYS (Sweden).

The report covers exhaustive analysis on

Robotic Vision Market Segments
Robotic Vision Market Dynamics
Historical Actual Market Size, 2013 – 2015
Robotic Vision Market Size & Forecast 2016 to 2026
Supply & Demand Value Chain
Robotic Vision Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Robotic Vision Market Drivers and Restraints

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Vehicle To Vehicle Communication Market Development Status, Competition Analysis, Type & Application by 2026

Vehicle to vehicle (V2V) communication is the transmission of data, between motor vehicles through a wireless medium. This data includes what the vehicles are doing such as their location, speed, direction of travel, loss of stability, and brake.

The range of dedicated short-range communication (DSRC), a technology which is used by vehicle to vehicle communication technology, is standardized by bodies like FCC and ISO and has a range of up to 300mtrs or 1000mtrs or 10 seconds at highway speeds.

Vehicle to vehicle communication‘s goal is to prevent accidents by communicating in between themselves over and ad hoc network. Depending upon the implementation of technology, the driver is warned about the risk ahead and instructed to slow down accordingly.

Vehicle to vehicle communication gives an all-round information of risks and is expected to be more effective by including the technology such as adaptive cruise control, blind spot detection, rear-parking sonar, blind spot detection, lane departure, and backup camera.

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Vehicle to Vehicle Communication Market: Drivers

Connected cars will improve safety and control congestion in cities, on the roads, cars would communicate and send alerts if a crash seem imminent, these features would attract the customers increasing their safety and ease to drive encouraging the vehicle to vehicle communication market.

Advancement in wireless communication, sharing of information, and growing roadside communication infrastructure are driving the vehicle to vehicle communication market and are also acting as building step for development of autonomous vehicles market. Vehicle to vehicle communication has become as active research area due to its potential to improve vehicle and road safety, traffic efficiency, convenience and comfort for passengers as well as drivers, these advancements impact positively to the V2V communication market.

Vehicle to Vehicle Communication Market: Restraints

Vehicle to vehicle communication market has a few restraints which include the implementation of V2V communication requires the automotive manufacturers to agree upon standards, funding, and data privacy concerns. V2V communication also requires lots of data which in turn requires scalable and more storage capable cloud platform.

To perform these communication a strong network is mandatory with advanced standards, sophisticated processing, analytical capabilities and technicalities. Standardization of protocol, security issues and countermeasures are a few more points which may drive V2V communication market negatively.

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Vehicle to Vehicle Communication Market: Segmentation

Vehicle to vehicle (V2V) communication market can be segmented based on technology and types of devices. On the basis of technology, vehicle to vehicle communication market can be segmented into big data analytics, smart sensors, cloud computing and others. Vehicles with access to cloud storage would enable them to access the library of maps, self-guided tours, and shortcuts.

Big data analytics and data science would help the companies to understand the customers by identifying the opportunities, and anticipating in relevant developments. Sensors would help in sensing the traffic enhancing the riding quality and experience of the passenger as well as driver in the vehicle. Automotive sensors are used to augment accuracy and V2V technology could act as an additional sensor that could augment the data available.

On the basis of types of devices V2V communication market can be segmented into OEM devices, aftermarket devices, and infrastructure-based devices. OEM device is build or integrated into the vehicle during vehicle production. Aftermarket devices are the device which may not be fully integrated to the vehicle but they solve the purpose and for convenience are added after the original assembly of the vehicle. Infrastructure based devices include the exchange of secure information and operational data between vehicles.

Vehicle to Vehicle Communication Market: Regional Outlook

A lot of investment is done in experimenting and trying to develop the best vehicle to vehicle communication systems in the US, Japan, and the European regions. North America, majorly the U.S. dominates the global demand in vehicle to vehicle communication market.

European market is likely to witness highest growth. With the rise in population, people accepting the technological advancements and increasing number of vehicles in Asia Pacific and Middle East and Africa regions, the potential for vehicle to vehicle communication market is maximum in these areas as more and more automobile companies are focusing these regions. Latin America would witness a steady growth in the forecast period.

Vehicle to Vehicle Communication Market: Competition Landscape

BMW, Audi, Daimler, Volvo, and Ford- Applink, are included among the automobile manufacturers who are focusing into vehicle to vehicle communication market. Among the solution providers Etrans Systems, Qualcomm Technologies Inc., Cisco Systems Inc., Delphi Automotive PLC, Autotalks Ltd., Denso, Arada Systems, Kapsch Group and Savari Inc., are included in the vehicle to vehicle communication market.

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Device-Embedded Biometric Authentication Market Key Players, End User, Demand & Consumption by 2026

Growing trend towards secure and convenient way of authentication of devices is the key factor triggers the growth of global device-embedded biometric authentication market. Device-embedded biometric authentication is defined as the use of biometric authentication method to enhance the security and accessibility of devices, such as smartphones, tablets notebook PCs, and wearable devices.

Devices enabled with biometric authentication are embedded with necessary hardware and software for authentication. Based on the application various type of biometric authentication can be deployed, such as face, iris, voice and fingerprint authentication

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Global Device-Embedded Biometric Authentication Market: Market Dynamics

Increasing need for effective personal authentication in wide range applications such as ID verification, access control, electronic commerce are the factors contributes the healthy growth rate of global device-embedded biometric authentication market.

Additionally, rising interest on deploying biometric authentication for verifying individual identity of users seeking access to various virtual asserts and increasing adoption mobile payment applications, accelerates the growth of device-embedded biometric authentication market globally.

Also, increasing smartphone sales, growing telecommunication infrastructure and growing preference for automated identity authentication solutions across various platforms, further fuels the growth of global device-embedded biometric authentication market. However, high initial cost and technical concerns related to compatibility with existing system are the key factors likely to deter the progression of global device-embedded biometric authentication market.

Global Device-Embedded Biometric Authentication Market: Regional Outlook

North America followed by Western Europe is expected to dominate the market due to continuous investment to deploy new technologies and high customer preference to enhanced security solutions. Asia pacific is identified as the fastest growing market due to increasing number of smartphone users and rapid adaptation to mobile banking applications.

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Global Device-Embedded Biometric Authentication Market: Competition Landscape

The key vendors in the Global Device-Embedded Biometric Authentication Market, include HID Global, IDEX America, Inc., Gemalto NV, ImageWare Systems., FUJITSU, Fingerprint Cards AB, Techshino Technology, Apple Inc., Nuance Communications, Inc., and ArmorVox.

The report covers exhaustive analysis on

Global Device-Embedded Biometric Authentication Market Segments
Global Device-Embedded Biometric Authentication Market Dynamics
Historical Actual Market Size, 2013 – 2015
Global Device-Embedded Biometric Authentication Market Size & Forecast 2016 to 2026
Supply & Demand Value Chain
Global Device-Embedded Biometric Authentication Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Global Device-Embedded Biometric Authentication Market Drivers and Restraints

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Global Device-Embedded Biometric Authentication Market: Segmentation

On the basis of type, the global device-embedded biometric authentication market can be segmented

hardware
software

On the basis of technology, the global device-embedded biometric authentication market can be segmented into

fingerprint recognition
iris recognition
face recognition
Voice authentication

On the basis of type of devices, global device-embedded biometric authentication market can be segmented into

smartphones
laptops
tablets
wearable devices

On the basis of end-user, global device-embedded biometric authentication market can be segmented into

Banking
Financial services
Insurance (BFSI)
e – commerce
healthcare government
others

On the basis of region, global device-embedded biometric authentication market can be segmented into

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East and Africa (MEA)

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Digital Glass Military Aircraft Cockpit Systems Market Expectations & Growth Trends Highlighted Until 2026

Future Market Insights Digital Glass Military Aircraft Cockpit Systems Market (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.

A digital glass cockpit, also known as electronic flight information systems (EFIS) and cockpit display system (CDS), is an aircraft cockpit that consist digital flight instrument displays, generally large LCD screens, instead of conventional analog dials and gauges. A digital glass cockpit simplifies aircraft operations and navigation by enabling the usage of several displays driven by flight management systems, that can be adjusted (multi-function display) to display flight information as needed.

Advanced digital glass cockpit systems utilize LCD screens to display crucial flight information. Digital glass cockpit displays systems are based around primary flight displays (PFDs), engine indications and crew alerting system (EICAS) and multifunction displays (MFDs). This enables the replacement of mechanical flight instrument gauges with graphical representations of information from onboard and external sensors and navigation systems.

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The digital glass cockpits are being increasingly adopted by military and defense along with airline companies, as they eliminate the need for a flight engineer, in turn reducing costs. In recent past, this digital glass cockpit has become widely available in small aircrafts too.

Market Overview:

Digital glass cockpit systems, which were prevalent in the civil aviation sector, are being increasingly adopted among military aircraft operators, in order to add capabilities to their fleets. Along with facilitating reduction in information management workload for pilots coordinating large networks of sensors and platforms, digital glass cockpits offer advantages such as weight and power savings, enabling easier interaction with air traffic control, and enable faster training for new pilots.

Market Dynamics:

The cockpits of both fixed and rotary-wing military aircraft are going digital. These glass cockpits facilitate the pilot’s tasks throughout the flight, especially under difficult conditions, by improving access to vital information. The global market of digital glass military aircraft cockpit systems is mainly driven by the advantages offered by these systems over traditional cockpit systems.

These advantages include the enhanced accuracy and precision of automation systems, and more ergonomic display of the data. These glass cockpits also comprise feedback loops and self-checking capabilities to alert the pilot about threats before they become emergencies. Additionally, these advanced system offers checklist of issues, the pilot can utilize to troubleshoot a problem and correct it immediately.

However, as the aircraft operations become increasingly dependent on digital glass cockpit systems, flight crews must be trained to deal with possible failures. In recent years, several incidents involving glass-cockpit blackout have occurred. Therefore, proper training is considered as one of the key components for reducing miss happenings of aircrafts equipped with digital glass cockpit systems.

To counter these blackouts, aircrafts with digital glass cockpit systems are provided with backup analogue displays for key flight instruments including airspeed indicator and altimeter.

Presently, North America is holds the majority share in the digital glass cockpit systems market. However, the region is expected to lose its share to Asia Pacific region during the forecast period, mainly due to falling defense expenditure in North America. In the APAC region, India, China and Japan are expected to lead the growth in the forecast period.

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Key Market Players

The major players active in the Global digital glass cockpit systems market include Honeywell Aerospace, GE Aviation, Garmin Ltd., Avidyne Corporation, MGL Avionics, Lockheed Martin, Elbit Systems Ltd., Esterline Technologies Corporation, Airbus Group SE and Rockwell Collins, Inc.

The report covers exhaustive analysis on:

Global Digital Glass Military Aircraft Cockpit Systems Market Segments
Global Digital Glass Military Aircraft Cockpit Systems Market Dynamics
Historical Actual Market Size, 2014 – 2015
Global Digital Glass Military Aircraft Cockpit Systems Market Size & Forecast 2016 to 2026
Ecosystem Analysis
Global Digital Glass Military Aircraft Cockpit Systems Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Global Digital Glass Military Aircraft Cockpit Systems Market Drivers and Restraints

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Digital Glass Military Aircraft Cockpit Systems Market Segmentation:

Global digital glass military aircraft cockpit systems market is mainly classified on the basis of system, end use sector and geographies.

On the basis of system, global digital glass military aircraft cockpit systems market is segmented into

Multi-function flight display systems
Primary flight display systems
EICAS (Engine-indicating and crew-alerting system).

On the basis of end use sector, global digital glass military aircraft cockpit systems market is segmented as

general aviation
commercial aviation
defense & aerospace.

On the basis of geographies, global market of BTS is segmented into 7 key regions:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
Japan
Middle East & Africa

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Service Laboratory Market : Worldwide Analysis & New Opportunities Explored By 2026

With widespread use in bioscience, material science, electronics, and industrial science, service laboratories are witnessing decent demand all over the globe. According to FMI’s research, the service laboratory market is likely to grow at a steady pace throughout the forecast period 2016-2026.

Each high quality reliability maintenance programme requires a service laboratory not only for assessment of products but for resolution of the key manufacturing issues as well. Service laboratories typically serve as organisational units, which execute innovation management, and play a key role in quality processing and provide valuable insights into hidden failure mechanisms responsible for curtailed productivity.

Manufacturers, through their service laboratories, can identify the root cause of products’ mechanism failure, design correction plans, and improve next generation versions of their products. The ultimate aim is to maximise the productivity and efficiently cater to consumer demands.

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Key Drivers: Global Service Laboratory Market

Material science is the top vertical currently driving the service laboratory market, since immense developments in oil and gas sectors.
Growing use of equipment such as SEM and TEM, and procedures such as secondary ion mass spectroscopy is the key factor driving the demand for service laboratory. SEM, TEM, dual beam systems, and FIB are identified as the key revenue generation points of the global service laboratory market.
Moreover, increasing number of machinery and tools in metallurgy sector is also fuelling the growth of service laboratory market.
The complexity of innovative functionality of circuitry and allied component packages is rising since the past few years, which is propelling the requirement for service laboratories.
Increasing number of research labs in the bio science field is also an important factor positively influencing the demand for service laboratory equipment.
Evolving semiconductor technology and rising trend of miniaturization of semiconductor, electronic, and mechanical chips is expected to escalate the demand for service laboratory during the forecast period.

However, high end medical devices and equipment have to undergo high custom duty and excise duty. These key macroeconomic factors are anticipated to restrict the market growth to a certain extent.

Current Market Trends

The service laboratory market is witnessing significant push from emerging economies, providing attractive opportunities to manufacturers from the key market regions across the globe.
Life science research is currently trending with novel applications of super-resolution fluorescence microscopy techniques. Various biotechnology and pharmaceutical companies, life science universities and colleges, and forensic laboratories are thus estimated to fuel the demand for service laboratory.
The applications of nanotechnology in biotechnology, pharmaceuticals, aerospace engineering, electronics, chemical manufacturing, and textiles are burgeoning with the advent of research technology. This will also bolster the market of service laboratory.
Another highly influencing trend, especially for material science, includes the growing research interests in nano-crystalline solids.

Global Service Laboratory Market: Segmentation

In terms of application, the market is segmented into material science sector, bioscience sector, industrial sector, and electronics sector. While material science attracts the highest revenues to market, bio science remains the second largest segment that boosts the demand for service laboratory in research labs.

Geographically, North America is currently a major market for service laboratory. While Asia Pacific forms one of the largest markets, Europe also accounts for significant revenue shares in the total global market revenues.

Global Service Laboratory Market: Key Players

The prominent players in the global service laboratory market include Carl Zeiss SMT GmbH (Germany), Moody Labs (U.S.), FEI Company (U.S.), Hitachi High-Technologies (Japan), JEOL Ltd. (Japan), Tescan (Czech Republic), Direct Electron (U.S.), Nanolab Technologies (U.S.), EAG Inc. (U.S.), and Intertek Group PLC (U.K.).

While the key players are already well established in the global market, their strategic office locations, strong distribution channels, diverse product portfolios, and state-of-the-art technologies are estimated to strengthen their market presence over the forecast period and drive the market growth globally.

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The report covers exhaustive analysis on

Service Laboratory Market Segments
Service Laboratory Market Dynamics
Historical Actual Market Size, 2013 – 2015
Service Laboratory Market Size & Forecast 2016 to 2026
Supply & Demand Value Chain
Service Laboratory Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Service Laboratory Market Drivers and Restraints

Service Laboratory Market

Based on product, the market is segmented into

SEM
TEM systems

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Medical Telepresence Robots Market is estimated at US$ 61.1 Mn in 2022

Future Market Insights, a market intelligence and competitive intelligence firm, estimates that Medical Telepresence Robots is anticipated to witness incredible growth in the coming years due to rising demand for such systems from the healthcare industry, the large number of supporting devices available and the growing adoption in educational and recreational settings. According to the study, the global Medical Telepresence Robots market was valued at the US$ 50.1 Mn in 2021, and it is also expected to expand at a CAGR of 22.5% over the assessment period of 2022-2032.

The Medical Telepresence Robots are manufactured by companies such as Amy Robotics, Ava Robotics, Blue Ocean Robotics and InTouch Health. North America region dominates the global Medical Telepresence Robots market share owing to the region’s increased adoption of artificial intelligence and robotics in the healthcare sector, as well as an increase in the number of regional players. Europe holds the second largest share in the Medical Telepresence Robots market followed by Asia.

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The top application of Medical Telepresence Robots is when it is used in hospitals and assisted living services with a market size of US$ 34.9 Mn in 2021. This can be attributed to the increased adoption of telepresence robots in hospital settings as a result of features such as two-way communication from any distance and efficient teleconsultation and monitoring.

Key Takeaways from Market Study

The Medical Telepresence Robots market is anticipated to add 7.5X value by 2032
The market is expected to expand at a considerable growth rate of 22.5% and be valued at US$ 459.1 Mn by 2032
Amy Robotics and InTouch Health are the top giants in Medical Telepresence Robots manufacturing
Based on type, Mobile Robots accounted for around 65.8% of the global market share in 2021

“The increase in the number of market players offering cutting-edge solutions, as well as a greater emphasis on R&D in response to changing requirements, has resulted in the introduction of innovative solutions, which has further impacted market growth of Medical Telepresence Robots”, says a Future Market Insights analyst.

Key Players :

Amy Robotics
Ava Robotics Inc.
AXYN Robotics
Blue Ocean Robotics
InTouch Health
OhmniLabs, Inc.
Rbot
VGo Communications Inc.

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Winning Strategy

To fulfil the rising demand, major firms are focusing on initiatives such as mergers and acquisitions and the expansion of worldwide distribution networks. To stay competitive in the post-coronavirus economy, manufacturers are launching innovative products into the market.

Recently, InTouch Technologies (US) entered into an agreement to acquire REACH Health (US), a software used to improve the ease and distribution of telehealth. This boosts InTouch Health’s position as the preferred telehealth partner for hospitals and health systems.

More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global Medical Telepresence Robots market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by type (Stationary and Mobile), by components (Camera, Speaker, Microphone, Display, Power Source and Sensors), by end-use (Hospitals and Homes) and across key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Future Market Insights’ Domain Knowledge in Healthcare Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

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Key Segments Covered In Medical Telepresence Robots Industry Survey

Medical Telepresence Robots Market by Component:

Camera
Display
Microphone
Speaker
Power Source
Sensors and Control Systems

Medical Telepresence Robots Market by Type:

Stationary
Mobile

Medical Telepresence Robots Market by End Use:

Hospitals and Assisted Living Services
Home Use

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Digital Therapeutics Market is set to reach a valuation of US$ 4.8 Billion in 2022

[300 Pages Report] As per Future Market Insights, the global digital therapeutics market is forecast to reach US$ 4.8 Bn in 2022, with sales growing at an impressive 24.4% CAGR over the forecast period. The market size will reach US$ 42.5 Bn by 2032.

To infiltrate and disrupt the healthcare sector, IT companies are producing and acquiring digital therapies. Players are investigating whether digital medicines might improve quality of life and outcomes while maintaining or lowering total healthcare costs in certain disease areas, as well as how patient data obtained through such products can be used to determine coverage. To attract investors, startups are coming up with innovative digital therapeutic ideas.

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Manufacturers are combining off-patent compounds with medical devices farther up the innovation spectrum, such as altering the mode of administration with better inhalers and auto-injectors. This necessitates a bigger investment in research and development, as well as greater usage of collaboration between molecule producers and device manufacturers.

Mass-market platforms present a significant possibility for interaction at scale. Manufacturers of consumer gadgets, namely smartphones and smartwatches, have included healthcare services and encouraged third-party developers to create apps for better patient outcomes.

Simultaneously, attempts have been made to improve the quality of available apps, with major app shops enforcing certain quality criteria. This is a beneficial development because it is critical to place a premium on the secure storage of research-grade data.

Owing to the above-mentioned factors, the digital therapeutics market will expand at a considerable pace over the assessment period.

“Increasing awareness regarding digital therapeutics across emerging economies, along with growing adoption of healthcare wearables will continue driving growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

Combination therapy as a solution is expected to account for an approximate market share value of 4% of the global market in 2022.
By application, management is expected to hold a dominant market share value of 1% in the 2022 global market.
Central nervous system disorders by indication displayed a CAGR growth value expected to reach 2% by 2032.
Direct-to-patients/consumers is a dominant segment in terms of the business model within the global market, carrying an estimated market share value of about8% in 2022.
The U.S. is accounted for 3% of the North America digital therapeutics market in 2021.

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Key Players:

Teladoc Health, Inc.
Click Therapeutics, Inc.
Welldoc
HYGIEIA
DarioHealth Corp
BigHealth
Orexo AB
Akili Interactive Labs, Inc.
Freespira
Voluntis
Kaia Health
Kaiku Health
Theranica Bio-Electronics Ltd.
Propeller Health
Orexo US, Inc.
TALi Digital Limited
Limbix Health, Inc.

Market Competition

Digital therapies are a lucrative investment field due to a developing market environment, venture capital funding, and digital acceleration in response to the COVID-19 pandemic. The market is a fragmented space with heavy competition. Digital therapeutics have the capability to become an effective and economical solution for diseases and conditions that affect a large number of people. DTx software products have attracted a huge number of investors because to their lower development costs, simplicity of distribution, and ability to scale up their application.

For instance:

In January 2021, FDA approved Theranica’s Nerivio® for an expanded indication for acute treatment of episodic or chronic migraine in adolescents.
Limbix Therapeutics Inc. in October 2021 launched “SparkRx”, the first evidence-based digital therapeutic for adolescents with symptoms of depression.

Want more insights?

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The digital therapeutics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on digital therapeutics market segment based on solution – (monotherapy and combination therapy), application (prevention, management, and treatment), indication (diabetes, obesity, gastrointestinal disorders, cardiovascular disease, central nervous systems, and others), business model (direct to consumer and fee-for-service), across seven key regions over the globe.

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Key Market Segments Covered in Digital Therapeutics Industry Research

By Solution:

Monotherapy
Combination Therapy

By Application:

Prevention
Management
Treatment

By Indication:

Diabetes
Obesity
Gastrointestinal Disorders
Cardiovascular Disease
Central Nervous Systems
Others

By Business Model:

Direct to consumer
Fee-for-service

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