Market Research Blog

The LED Lights market is expected a CAGR of 14% during the gauge time frame, up from US$ 76 Bn in 2022 to arrive at a valuation of US$ 161 Bn by 2026.

Sales of LED Lights are expected to rise as usage of energy-efficient lighting solutions is exploding. In addition to this, demand for LED Lights is increasing on account of growing consumer preferences for energy-efficient lighting systems.

Increasing Infrastructure development operations are rising. As a result, LED lamps and luminaires have been steadily decreasing in price, which is also projected to contribute to the growth of LED Lights.

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Vast Energy Savings to Bolster Demand

World over, the pressing need for advanced lighting to get over the drawbacks of conventional technologies, notably incandescent, fluorescent and halogen lighting systems, is a vital factor that has propelled the demand for light-emitting diodes (LED) lights.The growing adoption LED lights is attributed to several advantages they offer such as higher energy-efficiency, extended lifespan, and lower maintenance requirements.

The growing concern of a fast depleting non-renewable energy sources in various parts of the world is a key trend bolstering the demand for such energy-efficient technologies.  The decline in prices of lamps and fixtures in several developing and developed countries is a key trend further fortifying the demand of LED among facility managers.

The vast energy savings associated with LED lighting owing to directional lighting is a crucial aspect that has bolstered their uptake in a variety of outdoor applications, such as in traffic lights, large parking lot, extensive building perimeter, and massive signage. The growing popularity of LED lights among facility managers is expected to boost their uptake for industrial applications, thereby accentuating the overall market.

Competitive Landscape

Some the prominent players operating in the global LED lights market include Hyundai Mobis Co., Ltd., Magneti Marelli S.p.A., EPISTAR Corporation, Cooper Industries, LLC, Cree, Inc., General Electric Company, Nichia Corporation, Texas Instruments, Valeo SA, and Koninklijke Philips N.V. Other leading players are Stanley Electric Co. Ltd, Koito Manufacturing Co., Ltd, HELLA KGaA Hueck & Co, and OSRAM Licht AG, finds Future Market Insights (FMI).

Several players are capitalizing on opportunities arising out substantial investments by end-use industries to install LED lighting on a massive scale in various developing and developed countries. A number of electronics companies are entering into the market while some semiconductor players are exploring lucrative avenues, which is expected to intensify the competition in the market. Furthermore,service providers as well as component manufacturers are expected to benefit from the vastly emerging opportunities in the market in the coming years, notes FMI.

Adoption in Automotive Products to Create Lucrative Opportunities

Equipped with lower maintenance requirements and higher operational benefits, including durability and almost instant luminescence, LED lighting system is gaining traction in various commercial applications in various parts of the world. However, the lack of cold-temperature conditions and inclement weather might dim the intensity of the light in some outdoor applications. This is a key factor reducing the viability of these systems.

Nevertheless, advancements in solid state technologies will enable manufacturers get over these constraints in the coming years. The rising adoption of LED lights to replace conventional incandescent lights automotive products is expected to open up lucrative avenues for manufacturers. The advent of LED lights that combine style with safety features is expected to open up exciting avenues in the automotive industry. A burgeoning demand for smart lighting in exterior and interior automotive parts is likely to bolster uptake.

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LED Lights Market: Segmentation

Product Type:

• Lamps
• Luminaries

Sales Channel:

• Modern Trade
• Departmental Stores
• Convenience Store
• E-Commerce
• Other Retail Format

Application:

• Residential
• Office
• Industrial
• Shop/ Stores
• Hospitality
• Outdoor
• Architectural

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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.

Contact:

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With the surge in the need for smart TVs, leading manufacturers have now shifted their focus on technologies that cater to multi-functional consumer needs. Future Market Insights (FMI) in its latest study has forecasted the smart TV market to rise at a CAGR of ~24.7% between 2021 and 2031.

Innovations are transforming the television industry by integrating advanced technologies like artificial intelligence (AI), Internet of Things (IoT), Google Assistance, and internet-connected services in the latest models of smart televisions, which were not available in traditional cathode-ray tube (CRT) televisions.

Partnerships between big companies and small players are bolstering the scope for growth. Manufacturers are focusing on developing innovative product features, in addition to effectively developing sales and distribution channels. Most consumers focus on online product research before making a purchase.

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Key Takeaways from the Smart TV Market Study

• The 45- 50 inches’ segment accounted for a 22.3% share in 2020, which is attributable to the increasing penetration of 4K TVs in the higher economic consumer class.
• Multi-brand stores are a popular distribution channel, accounting for over 29% of the market. However, online sales are expected rise at 27.3% CAGR.
• The U.S. currently holds the lead accounting for 79.5% of the North America market, driven by increasing consumer expenditure on lifestyle products.
• Japan is expected to register high potential for growth, accounting for an estimated 51.7% share in East Asia market by the end of 2031, supported by easier access to new technologies.
• India followed by Indonesia are projected to emerge as lucrative markets in South Asia, holding over 32% and 23% share.

Impact of COVID-19 on the Smart TV Market

The COVID-19 pandemic has adversely impacted the smart TV market. Lockdown imposed by governments, suspended operations in manufacturing facilities. Restrictions were imposed on the movement of non-essential goods and services for months, which hampered the overall supply/distribution for smart TVs across the globe.

Samsung which has manufacturing facilities in Vietnam, the Czech Republic, and Hungary was relatively less affected in 2019. However, with the closing of Hungary’s boarders and the lock down in Czech Republic, Samsung faced difficulties in operating its European facilities.

The outbreak had a negative impact on businesses in 2020 and continued to affect operations in 2021. However, in the current scenario, the smart TV market is expected to recover steadily from the downfall in the forecast period.

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Who is Winning?

Key players operating in the smart TV market include Samsung Electronics Co., Ltd, Panasonic Corporation, LG Electronics, Inc., Sony Corporation, Videocon Industries Limited, Haier Electronics Group Co, Ltd, TCL Corporation., Hisense Group, Sansui Electric Co., Ltd., Micromax Informatics, Sharp Corporation, VIZIO, Inc., Apple Inc, Toshiba Corporation, Hitachi Ltd and among others.

Players in the moderately consolidated smart TV market are largely involved in strategies for product development and launches in addition to investments for geographical and capacity expansion to sustain long term growth.

Get Valuable Insights into Smart TV Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global smart TV market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the smart TV market based on the display technology type (LED, QLED, HDR, OLED, LCD, IPS LCD, and XLED), screen type (flat, curved and foldable), screen size (32 inches and under, 33 to 44 inches, 45 to 50 inches, 51 to 55 inches, 56 to 65 inches, 66 inches and above), application type (residential and commercial{ hotels, restaurants, corporate offices, cafeterias, and others}) price (under US$ 500, US$500 – US$ 1000, US$ 1000 – US$ 2000, US$ 2000 – US$ 3000 and US$ 3000 and above), sales channel (hypermarkets/supermarkets, speciality stores, multi-brand stores, online retailers, wholesalers & distributors, and other sales channel), across seven major regions.

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.

Contact:

Future Market Insights Inc.   
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200 Continental Drive, 
Suite 401, Newark, 
Delaware – 19713, USA   
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The worldwide video intercom device market is supposed to enroll a CAGR of 13.1% during 2017 – 2027, with North America, Western Europe, and APEJ representing striking offers toward the figure time frame’s end.

FMI has conveyed the critical experiences on the worldwide video intercom device market in its report named “Video Intercom Device Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”.

The development of the worldwide video intercom device market is supposed to be alluring as the market is supposed to develop ceaselessly at a CAGR of 13.1% concerning esteem during the estimate time frame, 2017 – 2027.

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Video Intercom Device Market: Analysis & Forecast

On the basis of product, the door/entrance system segment is expected to register attractive growth during the forecast period in the global video intercom device market. On the basis of technology, the IP-based video intercom device segment is expected to witness an attractive growth during the forecast period in the global video intercom device market. Based on vertical, the residential segment is expected to gain a high share in the global video intercom device market during the forecast period.

The global video intercom device market was valued at US$ 15,711.6 Mn by the end of 2017, and is expected to grow at a steady pace over the coming years. Developed economies of North America, Eastern Europe and APEJ are collectively expected to account a major share of the global video intercom device market.

North America, Eastern Europe and APEJ are projected to be the dominant regional markets for video intercom device, where APEJ is expected to grow at high CAGR during the forecast period.

Video Intercom Device Market: Dynamics Impacting Revenue Growth

Since the last few years, the adoption of video intercom device has increased considerably, especially in the residential segment. The manufacturers of video intercom devices are planning to reduce the overall as well as the installation cost.

Apart from building and societal security infrastructure, video intercom devices are deployed for baby monitoring purpose facilitating parenting ease, by providing information about the baby’s routine activities.

The door/entrance system segment in the global video intercom device market is expected to witness significant growth over the forecast period. The system sends an alert signal to the user regarding the entry and exit of a known or unknown person, even if the user is not present at the premise, which is the prime factor driving the demand for door/entrance system.

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Video Intercom Device Market: Regional Insights

North America is expected to be the dominant regional market for video intercom device as the overall revenue generated from the residential segment has surged owing to the increased adoption of smart home automation solutions.

Consumers nowadays are adopting security systems with advanced features embedded in their smart home applications, considering it as a value-added service for better quality of living. Such factors are encouraging the vendors of video intercom devices to innovate their solutions, which is thus driving the growth of the video intercom device market in the region. The APEJ video intercom device market will be a target market for the participants owing to the high growth opportunities in countries such as India and China.

The video intercom device market in Eastern Europe has high potential. Penetration of smartphones in the European countries is increasing rapidly, and population living in urban areas is looking for better security solutions such as video intercom devices to deploy in their smart homes. This is a major factor expected to drive the growth of the video intercom device market in the region.

Video Intercom Device Market: Competition Analysis

According to FMI’s analysis, the integration of advanced technologies by the manufacturers of video intercom devices, along with enhancement of functionality will help increase their revenues in the video intercom device market.

Examples of some of the key participants operating in the global video intercom device market are Panasonic Corporation, Honeywell Security, LEGRAND, Godrej Industries Limited, Zicom, Zenitel, Aiphone Corporation, Comelit Group S.P.A., Dahua Technologies Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd.

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Key Segments Covered

Product

• Baby Monitoring System
• Handheld Device
• Door/Entrance System

Technology

• IP-based
• Analog-based

Vertical

• Government
• Residential
• Commercial
• Manufacturing/Industrial

Key Regions Covered

• North America Video Intercom Device market
  • U.S.
  • Canada
• Latin America Video Intercom Device market
  • Brazil
  • Mexico
  • Rest of Latin America
• Western Europe Video Intercom Device market
  • Germany
  • France
  • U.K.
  • Spain
  • Italy
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe Video Intercom Device market
  • Russia
  • Poland
  • Rest of Eastern Europe
• APEJ Video Intercom Device market
  • China
  • India
  • Australia & New Zealand
  • ASEAN
  • Rest of APAC
• Japan Video Intercom Device market
• MEA Video Intercom Device Market
  • GCC Countries
  • Turkey
  • South Africa
  • North Africa
  • Rest of MEA

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.

Contact:

Future Market Insights Inc.   
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200 Continental Drive, 
Suite 401, Newark, 
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T: +1-845-579-5705
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The cloud business email market in North America is ready to exploit the innovative progressions in the region and rise as the biggest regional market based on revenue contribution to the worldwide market. A few organizations have begun actualizing the G-suite with add-on AI highlights to provide enhanced conveyance of enterprise email in an offer to draw in consumers. The global cloud business email market is expected to acquire a market value of nearly USD 2.15 Bn, proliferating at a CAGR of 10.4% during the forecast period from 2017 to 2027.

Due to the creation of cutting-edge and ground-breaking technologies that are driving the expansion of the global market, the IT industry is experiencing significant global transformation. The advent of the cloud in many facets of business has benefited organisations in how they handle routine business tasks, including corporate email solutions. The IT industry in North America is frequently the first to see such technical advancements, making the continent the epicentre of all inventions.

Financial institutions throughout Europe have embraced hosted cloud services quickly in recent years to ensure quick delivery of financial services in an effort to meet shifting customer and industry demands with increased efficiency and much less security risk. All of this is helping the cloud business email industry in Europe grow in terms of revenue.

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Western Europe and North America would essentially be higher development markets in the global cloud business email market after APEJ. While APEJ will record incremental prospects of US$ 823.2 Million over the evaluation period, the Western Europe market will show stable incremental prospects of US$ 498.5 Million.

Key Takeaways from Market Study

The solution provider is incessantly centering on carrying out the G suite with add-on AI features to provide enhanced delivery of enterprise email in an offer to pull in users. Illegal intrusions, increasing cyber threats, and data security issues, which is the foremost challenge for the worldwide market. The mainframe, UNIX, Linux, Windows, and others, these are functioning environment catered for the market. The rising acceptance of BYOD technology in business enterprises is a foremost prospect for the worldwide market.

Increasing Adoption of Cloud Business Email Solution amid the COVID-19 Pandemic outbreak

Nowadays, the COVID-19 crisis around the world showed that several organizations need to ensure they can work from anywhere, anytime, and creating greater urgency to adopting all forms of cloud. During this COVID-19 crisis, office-based employees have become remote workers. Cybercriminals can take advantage of distracted employee web browsing behavior and email behavior. As a result of COVID-19, Cybercriminals are also taking advantage of extensive discussion of the outbreak in cloud business emails and across the web. There continues steady growth in the number of COVID-19-related spear-phishing attacks, up 67% since the end of March. Increasing adoption of cloud business email solution with artificial intelligence to detect signs of malicious intent and deception with every email.

Increasing Demand of Hosted Cloud Services by Financial Institutions

Financial institutions across the globe have been quick in the adoption of hosted cloud services across public clouds to ensure speedy delivery of financial services in a bid to meet changing industry and customer demands with more efficiency and greater ease of security concerns. This is significantly adding to the revenue growth of the cloud business email market.

Key Players :

Prominent companies in the cloud business email market includes Microsoft Corporation, IBM Corporation, Google Inc., Micro Focus International Plc., NEC Corporation, Amazon Web Services, Inc., Hitachi, J2 Global Inc., Fujitsu, and among others.

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More Valuable Insights on Cloud Business Email Market

FMI’s report on the cloud business email market is segmented into three major sections such as operating environment (windows, Linux, Unix, Mainframe, and others), verticals (BFSI, healthcare, media & entertainment, IT & telecom, energy & power, automotive, consumer goods & retail, and others), and region to help readers understand and lucrative evaluate opportunities in the cloud business email market.

Cloud Business Email Market: Segmentation

The global Cloud Business Email market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Operating Environment:

• Windows
• Linux
• Unix
• Mainframe
• Others

By Verticals:

• BFSI
• Healthcare
• Media & Entertainment
• IT & Telecom
• Energy & Power
• Automotive
• Consumer Goods & Retail
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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.

Contact:

Future Market Insights Inc.   
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200 Continental Drive, 
Suite 401, Newark, 
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T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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According to the report by Future Market Insights, the global set top box market will register growth at 9% CAGR between 2021 and 2031. Sales of set top box across the globe are calculated to reach US$ 28 Bn by the end of 2021.

Increasing demand for high-definition video quality and increasing popularity of over-the-top (OTT) platforms are boosting the market. Technological advancements in the digital broadcasting industry and the adoption of smart television across the globe will drive the set-top box sales. FMI estimated that the global set-top box market registered exceptional year-on-year growth of 11% in 2021 driven by the growing adoption of smart TV such as Android and Apple TV across India, China, and Malaysia.

Growth in the market also is attributed by the surging popularity for OTT platforms such as Netflix, HULU, Amazon Prime, and others. Live streaming of sports events and other entertainment channels have reshaped the face of digital broadcasting industry.

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Hence, key players are collaborating with these OTT platforms to capitalize on growing trend of OTT platforms. Against this backdrop, the global set-top box market will surpass US$ 46.09 Bn by the end of 2031.

Key Takeaways from FMI’s Set Top Box Market Study

• In terms of video quality, while high-definition set-top boxes will dominate the market, sales of standard-definition set-top boxes are expected to reach US$ 5.4 Bn through 2031
• Based on product, OTT devices segment is expected to exhibit the highest growth, registering year-on-year growth of nearly 12.2% in 2021
• Satellite set-top boxes segment will account for substantial global market share through 2031, enabling growth at 8.1% CAGR between 2021 and 2031
• North America set-top box market is expected to surpass US$ 9.9 Bn by the end of 2031, with the U.S. leading the market growth
• Japan set-top box market will account for over 34% of East Asia market share in 2021
• India and Australia are expected to dominate the South Asia and Oceania set-top box market, respectively

Competitive Landscape

As per the study, Huawei, Arris, Skyworth, Technicolor, and Samsung Electronics are the top 5 players leading the global set-top box market. These players collectively account for over 45% of global market sales.

Leading players operating in the global set-top box market are focusing on product launches and collaboration with satellite providers and digital broadband companies to gain competitive edge.

. For instance:

• In April 2021, NAGRA, a Kuldeski Group company and the world’s leading independent provider of content protection and multiscreen television solutions collaborated and announced the launch of Android TV Set-top box.
• In September 2021, DTVKit collaborated with other leading players such as RDK, Mediatek, EKT and OBS to announce the launch of the Hybrid White Label set-top box.

Get Valuable Insights on Set Top Box Market

Future Market Insights, in its updated report, presents an exhaustive analysis on the global set top box market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights on growth drivers and market potential in detailed segmentation basis of product (cable set-top boxes, satellite set-top boxes, IPTV set-top boxes, and OTT (over-the-top) devices) and video quality (standard-definition set-top boxes and high-definition set-top boxes) across seven major regions including North America, Latin America, Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan.

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Set top box (STB) Market by Category

Product:

• Cable Set-Top Boxes
• Satellite Set-Top Boxes
• IPTV Set-Top Boxes
• OTT (Over the Top) Devices

Video Quality:

• Standard-Definition Set-Top Boxes
• High-Definition Set-Top Boxes

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Middle East & Africa
• Japan

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.

Contact:

Future Market Insights Inc.   
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200 Continental Drive, 
Suite 401, Newark, 
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Process automation and instrumentation market growth is essential for software vendors and semiconductor suppliers. Cement, oil and gas, chemical, and paper are examples of end-use industries where process automation is used to increase productivity and safety using hardware, software, and computing technology.

The data is stored and reviewed on a computer using sensors that collect information on flows, pressures, and temperatures among other things. For the process automation and instrumentation market to grow as a whole, cooperation between manufacturers of semiconductor components, developers of industrial software, and manufacturers of industrial automation equipment is crucial.

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Future Market Insights (FMI) has recently published a report titled “Process Automation and Instrumentation Market – Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”. Process automation involves using software technology and computer technology to allow end-use industries such as cement, oil & gas, chemical, paper, and others to operate more safely and efficiently. The information is stored and analysed on a computer with the help of sensors, which collect the data on flows, pressures, and temperatures, among others.

The global on-shelf availability solutions market is expected to grow from US$ 3.7 Bn in 2022 to US$ 6 Bn by 2028 at a CAGR of 8.4% in terms of revenue during the forecast period (2022-2028). In this report, the global on-shelf availability solutions market is tracked in terms of value, and is calibrated to obtain the market revenue estimates of on-shelf availability solutions & services.

On-shelf availability solutions are the technological tools that help retailers maintain, analyse and monitor the availability of various products in their store. On-shelf availability solutions are generally based on RFID technology & Internet of Things (IoT) sensors, and help in inventory management by monitoring the status of inventory and supply chain. On-shelf availability solutions help reduce out-of-stock situations by identifying potential issues and help in quickly resolving them to improve the overall profit margins.

To understand and assess the demand and opportunities in the on-shelf availability solutions market, the on-shelf availability solutions market report is categorically split into five major sections: on-shelf availability solutions market analysis – by component, by deployment type, by application, by end user and by region.

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On the basis of component, the on-shelf availability solutions market is segmented into software and services. The software segment of the on-shelf availability solutions market is expected to dominate the market throughout the forecast period with a market share of 75.0% and 75.7% in 2022 and 2028 respectively.

On the basis of deployment type, the on-shelf availability solutions market is segmented into on-premise and SaaS segments. The on-premise segment of the on-shelf availability solutions market is expected to dominate the market for the maximum duration of the forecast period owing to the high CAGR associated with it. The SaaS segment of the on-shelf availability solutions market is expected to grow from US$ 729.7 Mn in 2022 to US$ 2,210.0 Mn in 2028.

On the basis of application, the on-shelf availability solutions market is segmented into historical data analysis, response time analysis, vendor pattern analysis, potential risk analysis and others. The response time analysis application segment of the on-shelf availability solutions market is expected to dominate the market throughout the forecast period and enjoy a market share of 27.6% % and 31.5% in 2018 and 2028 respectively.

On the basis of end user, the on-shelf availability solutions market is segmented into Consumer Packaged Goods (CPG) manufacturers, retailers, online retailers, suppliers, warehouses and others. The supplier end user segment of the on-shelf availability solutions market is expected to dominate the market throughout the forecast period owing to the high CAGR associated with it. The CPG manufacturer end-user segment of the on-shelf availability solutions market is expected to grow from US$ 725.0 Mn in 2018 to US$ 1,811.1 Mn in 2028.

The section on-shelf availability solutions market analysis by region includes an in-depth country-level analysis of all global regions, namely North America, Latin America, Western Europe, Eastern Europe, SEA and Others in Asia Pacific, Japan, China and MEA, by component, by deployment type, by application, by end-user & by country, and provides market data in terms of value for 2022-2028. In 2021, the market in North America dominated the overall global on-shelf availability solutions market, and it is also the fastest-growing region in the on-shelf availability solutions market.

The key players reported in this study on the global on-shelf availability solutions market are Panasonic Corporation; International Business Machines Corporation; SAP SE; Impinj, Inc.; MindTree Ltd.; Retail Solutions Inc.; Retail Velocity; Market6, Inc.; Lokad; Verix; Frontier Field Marketing; NEOGRID; eBest IOT and Enterra Solutions LLC.

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On-shelf Availability Solutions Market by Category

Component:

• Software
• Service

Application:

• Historical Data Analysis
• Response Time Analysis
• Vendor Pattern Analysis
• Potential Risk Analysis

Deployment Type:

• On-premises
• SaaS

End User:

• CPG Manufacturers
• Retailers
• Online Retailers
• Suppliers
• Warehouses

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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 6-years.

Contact:

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In its recent research, Future Market Insights (FMI) projects the global IoT security product market to register a staggering expansion at 14.9% CAGR through 2027. In 2017, the market will account for revenues worth US$ 12,007.9 Mn, and it is further estimated to reach nearly US$ 50,000 Mn by 2027-end. This growth is primarily attributed to continuous launches of IoT security offerings by enterprises, soaring number of service providers, and emergence of niche players in the market.

Increasing adoption of digital technologies including web-based services, online education, and online banking has accelerated adoption of smartphone among individuals, which in turn has necessitated security of such technologies against cyber-attacks. Various governments across the globe have imposed stringent laws, in order to ensure secure environment and maintain privacy for connected devices.

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North America will Remain Dominant in the Global IoT Security Product Market

North America will remain dominant in the global IoT security product market, with sales estimated to reach nearly US$ 16,000 Mn in revenues by 2027-end. Government organisations of various North American countries have entered into partnership with major technology companies in order to implement IoT across urban cities.

These organisations are also providing funds to technology vendors for development of IoT applications. In addition, increasing smart city projects in North America have led to a significant adoption of sensor applications. The aforementioned factors are anticipated to drive growth of IoT security product market in this region.

APEJ will Register Fastest Expansion in the Global IoT Security Products Market

Asia Pacific Excluding Japan (APEJ) will continue to be the fastest growing market for IoT security products, registering a high double-digit CAGR through 2027. Growing number of connected devices is leading towards expansion of IoT ecosystem in APEJ. This is further prompting the region’s leading companies for developing services and platforms, helping them in efficient management and analysis of real-time data streams gathered from multiple data sources.

With rapidly changing technologies, enterprises are faced with difficulties in deploying technology-specific networks, which in turn is expected to impede market growth in this APEJ. In addition, rapid adoption of IoT among enterprises has led to a surge in cyber-attacks, owing to increasing internet exposure to a number of devices.

Manufacturing to Remain the Largest Vertical for IoT Security Products

Manufacturing is estimated to remain the largest vertical for IoT security products in the global market. Revenues amassed from sales of IoT security products in manufacturing are expected to reach US$ 15,088.9 Mn by 2027-end. In addition, healthcare will be the fastest growing vertical in the global IoT security products market, followed by energy & utility, and transportation & logistics.

Although smart grid will remain sough-after among applications, home & building automation is expected to witness fastest expansion in the market through 2027. Revenues amassed from smart grid, and home & building automation applications of IoT security products will collectively account for revenues worth US$ 26,753.5 Mn by 2027-end.

Network security will remain preferred solution for IoT security products, with sales anticipated to account for nearly US$ 15,000 Mn by 2027-end. End-point/ device security will continue to be the second largest solution for IoT security products. In addition, vulnerability management solution for IoT security products will register fastest expansion through 2027.

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Internet of Things (IoT) Security Product Market: Segmentation

By Component

• Hardware
• Software

By Deployment Type

• End-point or Device Security
• Network Security
• Identity and Access Management
• Vulnerability Management
• Messaging Security
• Web Security
• Others

By Application

• Machine-to-Machine (M2M) Communication
• Smart Grid
• Home and Building Automation
• Wearable Computing Devices
• Vehicle-to-Vehicle (V2V) Communication

By Verticals

• Consumer Goods and Retail
• Manufacturing
• Transportation and Logistics
• Healthcare
• Energy and Utility
• Others

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• MEA

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The worldwide weather information technology market is set to partake in a valuation of US$ 4,772.7 Mn in 2022, and further extend at a CAGR of 6.1% to arrive at US$ 7,216.3 Mn continuously 2029.

New correspondence organizations and figure frameworks, for example, advanced information base determining, nowcasting frameworks, remote correspondence and others are arising and giving the potential chance to work on Public Weather Services (PWS).

Utilizing technology like increased reality, meteorologists are making visuals from weather radar and determining models, and assisting watchers with planning for future tempests.

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Weather Information Technology Outlook By Category

By Solution :

• Weather Information Technology Systems
  • Automatic Weather Stations
  • Automated Weather Observing System (AWOS)
  • Sounding Systems
  • Weather Radar
  • Others (Lightening, Air Quality)
• Weather Information Technology Services
  • Maintenance Services
  • Consulting Services

By Application :

• Air Quality Monitoring
• Weather Monitoring
• Weather Forecasting
• Others

By Industry :

• Utilities
• Agriculture
• Military & Defense
• Transportation
• Marine
• Aviation
• Others (Mining, Chemicals)

By Region :

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

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 7-years.

Contact:

Future Market Insights Inc.   
Christiana Corporate,
200 Continental Drive, 
Suite 401, Newark, 
Delaware – 19713, USA   
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs