Submarine Cables Market Gain Impetus due to the Growing Demand over 2020-2030

Submarine cables market is forecast to exhibit positive rate of growth between 2020 and 2030. Future Market Insights (FMI) in its recent study has projected the market to reach a valuation of US$ 13 bn by the end of 2020. Growing at an impressive 10.7% CAGR, the market is forecast to reach US$ 36 Bn by the end of 2020.

Through the course of the report’s forecast period, the market is expected to be driven by increasing investment towards infrastructure intended to better international communications. Besides transmitting communication, submarine cables are widely used for power transmission.

These cables are developed to transmit power generated in offshore wind farms to various power stations and countries via island connections. With regards to communication, these cables are laid along the ocean floor to carry staggering volumes of data traffic between countries.

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Submarine Cables Account for Over 90% Data Traffic across the Globe

Submarine communication cables account for more than 90% of the data traffic generated across the world. They have an impressive carrying capacity, which is measured in terabits per sector. Subsequently, these cables are highly valued by OTT and behemoth communication providers such as Facebook, Microsoft, Google, and Amazon.

They are also considered vital components, indispensable for economies by most governments. Various countries therefore have implemented specific regulations governing the market. Some of the countries have even created safety zones, prohibiting access to the cables along the ocean floor, thus protecting them again potential damage.

Submarine Cable Line Ownership Gaining More Prominence among Tech-Enabled Product and Service providers

The growing volume of data traffic has augmented investment in submarine cables. FMI forecasts the market to witness increasing investment in regions such as the Middle East, Asia Pacific, Latin America, and Europe. Some of the leading communication providers are behind surging investment recorded in these regions. For instance, Amazon’s cables are laid from the U.S. to Asia Pacific, connecting countries such as California, Japan, Oregon, and Singapore.

FMI studies various factors impacting growth of the market in detail. It offers in-depth insights into the market. Some of these are:

  • Europe is forecast to emerge dominant in the global submarine cables market
  • Increasing offshore wind farm activities will augment investment in the market
  • Huge repair and maintenance cost may hinder growth
  • Barriers to the entry of small players will continue especially since the market is highly capital intensive
  • Nonetheless smaller companies are expected to focus on smaller projects across various regions

Despite a few disadvantages, submarine cables are considered cheaper and more efficient medium for communication between countries. Besides this, submarine cables are used in power transmission, which is expected to give impetus to the market in the coming years,” said a lead analyst at FMI.

Who is winning?

The submarine cables market is characterized by the presence of several behemoths hence it witnesses stiff competition. Because the market is highly capital intensive, it offers little opportunities for smaller and mid-sized companies. Nevertheless, smaller market players are expected to focus on smaller projects to stay afloat amid competition between behemoths.

FMI profiles some of the leading companies operating in the market. These include Alcatel Lucent, Google, NEC, Subcom, NKT A/S, Nexans, Prysmian Group among others.

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Key Segment

Product Type

  • Electrical cable
  • Fiber Optic Cable
  • Hybrid/ Composite Cable
  • Umbilical Cable

Filling Type

  • Oil/ Fluid Filled Cable
  • Solid Fluid Cable

End Use

  • Oil & Gas
  • Renewable Energy
  • Telecommunications
  • Defense

Get Valuable Insights into Submarine Cables Market

Future Market Insights executive level blueprint of the submarine cables market in its report. It offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market’s trajectory across these segments are also studied in detail for a period between 2020 and 2030.

The report studies the global submarine cables market in terms of products into electrical cable, fiber optic cable, hybrid/ composite cable, and umbilical cable. Based on filling type, the market is segmented into oil/ fluid filled cable and solid filled cable. On the basis of end use, the market covers oil and gas, renewable energy, telecommunication, and defense segments. Regionally, the global submarine cables market can be segmented into North America, Latin America, Europe, Asia Pacific, Oceania, and the Middle East and Africa.

Security Inspection Market is Estimated Drive the Industry Growth Across World in Coming Year 2030

The coronavirus global pandemic has had a severe impact on the aviation industry, and has restricted operations by security personnel in multiple sectors. However, with investments in law enforcement and defense sectors, the sales and adoption of security inspection services and products is expected to remain positive in the near future.

With these factors under consideration, Future Market Insights (FMI) has projected the global market for security inspections to rise at 4% between 2020 and 2030, to reach a valuation of over US$ 10.2 billion.

Key Highlights

  • Personnel screening systems remain highly sought-after in security inspection applications to minimize internal threats
  • Aviation sector accounts for greater security inspection product and service adoption through 2030
  • Portable security inspection models continue to generate strong demand over, larger area coverage benefits
  • North America will remain at the forefront of the industry, given the higher risk of terrorism and domestic unrest in the United States

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Security inspections provide critical protection against threats such as unlawful and unethical actors against human life and property damage costs. Technologies such as biometric matching, X-ray scanners, and metal detectors, are popular at security checkpoints for optimizing scrutiny processes​,” says analyst at FMI.

Covid-19 Impact on Security Inspection Market

The coronavirus pandemic has exposed a wide range of sectors to substantial economic uncertainty owing to restricted operations, and strict social distancing guidelines. The security inspection market is witnessing lower demand, particularly in the transport sector. However, tech innovations could potentially generate key growth opportunities.

While physical distancing becoming the norm, institutions using security inspections are displaying interest towards automated systems, and self-service products to minimize touchpoints to minimize human to human interactions.

Consequently, the advancements in AI and data analytics will help in managing the recovery of the end user sectors such as defense and aviation in terms of traffic growth, airport infrastructure, passenger expectations, and changing security threats.

Competitive Intelligence

Some of the key players in the security inspection market include Leidos, Gilardoni S.p.A., Nuctech Company Ltd., Analogic Corporation, Smiths Group plc, ADANI, Rapiscan Systems, Unival group GmbH, EAS Envimet Analytical Systems GmbH, Bruker, and C.E.I.A. SpA. With the competitive nature of the market landscape, product development and launch strategies, and efforts towards regulatory approval are key strategies.

  • The Kylin Ti computed tomography imaging scanner by Nuctech Company Limited has received the European Civil Aviation Conference’s certification of Explosive Detection System for Cabin Baggage (EDSCB) designation.
  • The US Transport Security Administration (TSA) has added the EMIS series electromagnetic cargo screening systems to its official list of Air Cargo Qualified technologies, for potential terrorism threats and to detect contraband and restricted goods.

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Key Segments

Product

  • Personnel Screening Systems
  • Checkpoint Screening Systems
  • Explosives & Drugs Trace Detection Systems
  • Liquid and Radioactive Substance Monitors,
  • Cargo and Baggage Inspection Systems
  • Vehicle Inspection Systems
  • Others

Type

  • Portable
  • Fixed

Application

  • Aviation
  • Border Security
  • Correctional Facilities and Law Enforcement
  • Critical Infrastructure Protection
  • Commercial Security
  • Others

Service

  • Security Consulting Services
  • Installation and Integration Services
  • Maintenance and Repair Services
  • Security Training Services
  • Support Services

More About Security Inspection Market?

A new market research report published by Future Market Insights (FMI) on the global security inspection market offers key insights into the market trends and analysis of critical opportunities through the assessment period, 2020-2030. The report studies the security inspection market through five unique segments – product, type, application, service, and region. The security inspection market report also provides detailed assessment of sales through market dynamics, life cycle analysis, and technologies that are being deployed in the development of security inspection product and services across varying end-use sectors.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Home Office Spending Market is Estimated Drive the Industry Growth Across World in Coming Year 2030

Government efforts associated with prevention of COVID-19 contagion imply that home office has stepped up from simply a benefit to a necessity for maintaining entire operation of businesses and work-related activities.

As telecommuting has become mainstream, and subsequently work-from-home (WFH) culture is expected to continue after workplaces resume on large scale, Future Market Insights (FMI), in its recent study, has brought key trends shaping home office spending market to the fore.

Soaring trend of remote working has influenced FMI to estimate that the global home office spending market will grow at 15.3% CAGR over forecast period, 2020-2030.

While remote work software such as virtual reality (VR) conferencing, and mobile work tools will become preferable form of communication – even face-to-face meetings – artificial intelligence (AI) will also play significant role in managing remote staff.

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Home Office Spending Market Size Study

  • Adoption of home office spending solutions will rise at 15.3% CAGR during 2020-2030
  • Home office spending tools currently hold leading revenue share
  • Cloud deployment models to capture greater value share in home office spending market, tentative to 60%
  • Business productivity will remain key application area of home spending solutions
  • Players to eye investment opportunities in North America and Europe, as both regions are test beds for technology innovations

Free Wi-Fi and buzzy vibe of local coffee shops have been de facto home offices for hosts of laptop-toting knowledge workers before onset of COVID-19 pandemic. That said, pandemic-led lockdowns and subsequent consequences have compelled workers to take their jobs home, making home office a much-coveted feature of modern lifestyle,” says analyst at FMI.

COVID-19 Impact on Home Office Spending Market

With the COVID-19 pandemic showing no signs of subsiding, it has become palpable that work from home (WFH) – or remote working – could be a long-term reality. In order to help customers transform better and embrace WFH lifestyle sleekly, many several companies have granted home office allowance, or relevant facilities such as computers and furniture.

Recent estimates suggest that almost 55% of enterprises worldwide provide certain capacity for remote working, and about 18% of workforce telecommute on regular basis.

Moving ahead, isolation of home offices has created fertile breeding ground for companies to engage telecommuters with online platforms and communities. There is plethora of opportunities to establish connections with the work-from-home community.

Such trends translate into increased demand for home office spending tools and services including, collaboration tools, conferencing software, and security services.

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Home Office Spending Market – Competitive Intelligence

The global home office spending market is characterized by presence of various leading players such as Oracle Corporation, Microsoft Corporation, and Google Inc. As organizations and working professionals are being exposed to COVID-19-induced challenges, these players are stepping up their efforts to provide secured enterprise network solutions. For instance,

  • Microsoft has rolled out new updates for its subscription services – Office 365 – which include 1 TB of OneDrive cloud storage per individual, advanced security features to keep phishing attacks and malware at bay, and 60-min Skype calling on mobile phones and landlines.
  • Oracle has announced free access to its Workforce Health & Safety solution that allows HR executives to trace and record health-related issues among their colleagues (such as confirmed COVID-19 cases), reduce exposure to larger workforce, and take necessary actions quickly.

Want To Know More About Home Office Spending Market?

A new market research report published by Future Market Insights (FMI) on the global home office spending market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the home office spending market through four different segments – solution, deployment, application, and region. The home office spending market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the development of home office spending solutions and product adoption across several end-use industries.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Virtual Event Platforms Market is Estimated Drive the Industry Growth Across World in Coming Year 2030

Future Market Insights’ (FMI) recent study opines global virtual event platforms market to witness staggering growth, on account o As organizations switch to cloud computing and augmented reality in the wake of Industry 4.0, various virtual platforms have come into existence. Their scope has further increased in the past few months, with businesses transitioning to remote working approaches in light of the pandemic crisis.

A spike in virtual meetings, conferences, trade fairs and product launching events have been witnessed in the recent past. Several integrated virtual event platforms, standalone software and support services characterize the overall virtual events platforms market.

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Key Takeaways

  • Global virtual event platforms market to surge at 16.3% CAGR through 2030
  • Prolific expansion opportunities lay in store across the healthcare industry, especially in surgical procedures
  • SMEs to make heightened usage of virtual event platforms across the forecast period
  • Academic institutions to emerge as extensive virtual event platform end-users by 2030
  • Live event support service to register impressive expansion, owing to rising frequency of virtual events
  • South Asia & Pacific to be the fastest growing market, India to pivot growth

Deepening internet penetration globally is prompting solution providers to foray into unconventional markets, thereby expanding their customer base,” infers an FMI analysts.

COVID-19 Impact Insights

The novel coronavirus pandemic has induced a drastic reshaping of the global economy. Government mandated lockdowns have compelled organizations to accommodate work from home practices, thereby shifting businesses to the virtual platform.

Throughout the pandemic’s duration, the global virtual event platforms is expected to remain on a high growth trajectory. Large, medium and small enterprises have increased spending on cloud and virtual event management platforms, with meetings and conferences being conducted online.

According to Future Market Insights’ (FMI) estimates, the demand for virtual event platforms will surge exponentially, with maximum uptake likely to be across the education and healthcare industries. These network-based platforms have enabled people to schedule appointments with exhibitors, sponsors and performers.

Competition Analysis

Prominent players in the global virtual event platforms landscape are: Microsoft Corporation, Cisco Systems, Zoom Video Communications, Cvent, Evenium, SpotMe, Cadence, Cvent Inc, 6Connex Inc. and Hubb LLC among others.

Multiple strategies, ranging from product enhancements, new solution offerings, collaborations with niche players and strategic acquisitions of smaller players characterize the competitive landscape.

Microsoft Corporation is the leader of the virtual event platforms market, offering a wide pool of cloud-based and conventional communication solutions. In September 2020, the software giant introduced Azure Communications Services, the first fully managed communication platform from a major cloud provider.

Several providers also offer specialized courses on virtual event management platforms. For instance, Cisco Systems provides training courses through its Cisco Networking Academy. It offers specialization in networking, OS & IT, IoT, cybersecurity, programming and infrastructure automation among others.

Recently, in October 2020, Zoom Video Communications delivered its Zoomtopia 2020 keynote address wherein the tech giant unveiled a series of key enhancements of its OnZoom, Zapps, end-to-end encryption and Core UC platforms.

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Virtual event platform market: Segmentation

Solution

  • Software
  • Integrated Virtual Event Platforms
  • Standalone Software
  • Service
  • Live Event Support
  • Post Event Processing Services
  • Event Consulting Services
  • Support Services

End-User

  • Enterprise/Corporates
  • Event Management Agencies
  • Academic Institutions
  • Trade Show Organizers
  • Others

More Valuable Insights on the Virtual Event Platforms Market

Future Market Insights, in its new report, offers an unbiased analysis of the global virtual event platforms market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the virtual event platforms market on the basis of solution (software & service), end-user (enterprise/corporates, event management agencies, academic institutions, trade show organizers & others) and enterprise size (SMEs & large enterprises) across six regions.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Mobile Augmented Reality Market is Estimated Drive the Industry Growth Across World in Coming Year 2030

The credit of unstoppable pace of mobile augmented reality (AR) market significantly goes to the creative industry. Inclusive of video games, live events, retail, and video entertainment, this side of business has definitely challenged mobile augmented technology, pushing it to deliver better solutions. Designed to create immersive experiences, mobile augmented reality has won a special place for game makers. Launch of sophisticated, intricately designed multiplayer games have truly utilized the real potential of solutions presented by this market.

The explosive growth of mobile augmented reality is completely attributable to unprecedented use of smartphones and tablets. From remote places to urban landscapes, mobile AR has made an enormous contribution in changing the way experience museums, office spaces, and games. Since innovations such as Google Glass, the world of mobile AR has evolved to be a part of many other sectors, changing the game for military trainings, healthcare consultations, and learning experiences.

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In this light of these factors, Future Market Insight predicts that the global mobile augmented reality market estimated to reach US$ 3 Bn in 2020, surge at a whopping CAGR of 23.2% during the forecast period of 2020 to 2030.

Key Takeaways of Mobile Augmented Reality Market Study

  • East Asia to lead the race in the global mobile augmented reality market at a CAGR of 27.2% between the forecast years of 2020 and 2030
  • Gaming segment anticipated to retain its leading position with a share of 28% by the end of 2030
  • Smartphones and tablets to revolutionize educational experiences with integration of mobile AR
  • Services segment to leap ahead at a CAGR of 24.6% during the forecast period as AR design and development, integration and development, and support services find applications across verticals

The mobile augmented reality market in East Asia is expected to grow at a high CAGR as sales of smartphones with AR apps remains exponential. This eliminates the need for additional hardware to support this technology, which is expected to drive the expansion of mobile AR technology in the region. Mobile augmented reality has also become the new medium for game developers to focus on creative immersive experiences to create a high value proposition for the end use, “says an FMI analyst.

COVID-19 Proves Positive for Mobile Augmented Reality Market

The COVID-19 pandemic has deepened the chasm of economic crisis, making the global population rethink education and entertainment in many ways. With no live events to attend, cancelled sporting events, and uncertainty looming over reopening of colleges and schools, mobile augmented reality found its opening to a plethora of opportunities.

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The importance of AR has also surged in healthcare consultations as medical professionals and patients are seeking safety first. Furthermore, a quantum leap in online gaming, schooling, and entertainment as artists are taking gigs online, have collectively resulted in a special demand for mobile AR. Biggest chunk is definitely consumed by the online gaming industry, which has been the strongest pillar of the entertainment during the stringent lockdowns.

According to FMI, the mobile augmented reality market will grow 6%-8% by Q3 2020 in the given circumstances.

Mobile Augmented Reality Market: Segmentation

Solution

  • Mobile AR Software
    • Mobile AR Application Platform
    • Mobile AR SDKs
  • Services
    • Integration & Deployment
    • AR Design & Development
    • Support Services

Application

  • Military
  • Education
  • Healthcare
  • Gaming
  • Media & Entertainment
  • Travel & Tourism
  • Others

Region

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

E-commerce to Enhance Demand for Mobile Augmented Reality

The growing e-commerce industry has been identified as key contributor to the increasing adoption of mobile augmented reality. Integration of mobile augmented reality by retailers to make it more accessible for customers to purchase the right item. Augmented reality helps users to view their products in 3-D, life-like projections in real-time through smartphones and tablets.

Mobile augmented reality offers retailers the opportunity to improve the consumer shopping with real-life experiences. With an augmented reality app, an e-commerce retailer can create a virtual table with a different range of products, projecting it on the customer’s living room. The growing number of purchases via mobile devices and shoppers using smartphones in-store is increasing the demand for mobile augmented reality.

Such enhancement of consumer engagement is projected to bode well of the market in the forecast period.

More Valuable Insights on Mobile Augmented Reality Market

Future Market Insights offers an unbiased analysis of the global mobile augmented reality market, providing historical data for 2015-2019 and forecast statistics from 2020-2030. To understand opportunities in the mobile augmented reality market, the market is segmented on the basis of solution (mobile AR software (mobile AR application platform, and mobile AR SDKs), services (integration & deployment, AR design & development, support services)), application (military, education, healthcare, gaming, media & entertainment, travel & tourism, others), and region (North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East & Africa).

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Storage as a Service Market By Key Players, Competition Tracking, Applications & Forecast 2030

Future Market Insights in its recently published report projects that the global StaaS market will grow at an impressive CAGR of 17% between the forecast years of 2020 and 2030 as syncing, sharing, collaboration, and accessibility to data over smartphones and other devices gets simplified.

Storage as a service (STaaS) has been one of the fast-growing cloud application in recent years as businesses are exploring its potential to make operations flexible at reduced operating costs. The disruption created by cloud services across industry verticals has doubled productivity through automation, bringing down costs and improving services. This particular attribute surfaced as an axis for growing adoption of SaaS across verticals.

STaaS primarily helps to store copious amounts of data on cloud instead of on-premise, giving the organizations free space and less hassle of backing it up and investing in disaster management contingent plans.

As international business expands at a breakneck speed, companies are expected to invest in STaaS to ensure transactions are not bound to geographical locations. Furthermore, advantage of automated software backup to ensure data remains safe at all times is likely to assure the vendors in this market a guaranteed client base throughout the forecast years. Seamless business productivity and smooth transition of remote working capabilities as the world decides a new normal will push this market to leap ahead, predict analysts at FMI.

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Key Takeaways of Storage as a Service Market Study

  • SMEs to hold 74% of market share in 2020 as the adoption of STaaS becomes essential to cutting back on infrastructural cost and focus on business continuity
  • BFSI segment held a market share of 22% in 2019 and is expected to continue on a similar trend as banking gets digitized even in rural clusters
  • South Asia & Pacific to register a CAGR of 23% 2020-2030 in the global STaaS market as countries undergo rapid digitalizing across sectors
  • Cloud computing and remote work ethic to remain strong undercurrents of booming STaaS market

In this ever-changing technology landscape, businesses are continuously looking for cost effective and efficient solutions which can reduce the burden of legacy systems. With the outbreak of COVID-19, the need to reduce CapEx and OpEx and make a smooth transition to remote work culture is expected to create potential opportunities for the storage as a service market,” says the FMI Analyst

COVID-19 Impact Analysis on Storage as a Service Market

The outbreak of COVID-19 highlighted the need for businesses to adapt quickly to remote working options, pushing them to change their technological landscape to ensure business continuity during the pandemic. As the trend continues to rise, companies are expected to invest in technology-based infrastructure in the coming years. Also, the sudden spotlight on reduction in operation costs such as electricity and rents has made business realise the true contribution of SaaS in improving profit margins.

According to International Labour Organization (ILO), prior to COVID-19 outbreak only 2.9% of global workforce worked from home. However, in a post pandemic world, managers are reassessing their operating methods, leading to an explosion in the percentage of those working from home.

In light of this trend, post COVID-19, the demand for cloud-based solutions and applications is expected to surge as businesses around the globe will look for cost-effective, efficient, and resilient solutions for their business continuity. Furthermore, strengthening sentiment to go remote permanently is also expected to give this market an impetus like never before.

The storage as a service market grew around 15% Y-o-Y in 2018 and 2019 and with the outbreak of COVID-19, the market is expected to witness a growth rate of around 18%-20% during 2021-2023.

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In the short-term, the storage as a service market may face challenges in maintaining the growth rate as the budget concerns, declining profitability and sales growth, have resulted in severely losses for businesses of all sizes. However, the long-term outlook for storage as a service market remains positive as the market is projected to see a 4.5x growth during the forecast period.

Partnerships and Innovations to Drive Growth

Ever changing technological landscape, customer expectations, and intensive competition are creating a storm in the global Storage as a Service market, which is compelling solution providers to continuously look for innovating and cost-effective solutions. Moreover, collaborations and partnerships with digital solution providers can also help Storage as a Service solution providers to enhance their market share and customer base.

For instance, in March 2020, Pure Storage and SAP entered into the partnership to offer customers with joint competency centers, technical support, and technology integrations in areas of STaaS, intelligent enterprise, cloud computing, storage and virtualization.

More Valuable Insights on Storage as a Service Market

FMI’s report on the Storage as a Service market is segmented into four major sections which are service type (Cloud NAS, Cloud SAN, Cloud Backup, Cloud Archiving), enterprise size (small & medium enterprises, large enterprises), industry (BFSI, Media & Entertainment, Government, Healthcare, IT & Telecom, Manufacturing, Education, Others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the Storage as a Service market.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Automotive Semiconductor Market By Key Players, Competition Tracking, Applications & Forecast 2030

Automotive semiconductor market is expanding at an impressive pace. Despite disruptions faced during the ongoing pandemic, the global automotive semiconductor market is forecast by Future Market Insights (FMI) to rise at 7.0% CAGR between 2020 and 2030. The leading market players are set to leverage the rising requirements of electric vehicles and the digital safety features like Advance Driver Assistance System (ADAS).

Based on historic research and current data, the market is forecast to showcase steady growth as a result of the rising demand for electric vehicles, automotive safety standards and modern automotive technologies across various countries.

While the market growth is accelerating quite steadily, the COVID-19 pandemic has impacted the manufacturing sectors. However, despite disruptions witnessed in production, market players are expected to focus on research initiatives, which will enable growth in the market in the coming years.

For instance, Broadcom Inc. has come up with their wide varieties of automotive solutions like vehicle connectivity and networking, optical isolation and sensing, wireless communications, LED lighting in the current year.

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According to the report, the increasing production of vehicles and surging demand for safety feature have been resulting in the incorporation of the electrical systems in the automotive industry. The overall growth curve of the market tends to remain upward during the forecast period.

Some of the key takeaways from the report are highlighted below:

  • The global automotive semiconductor market will grow steadily at a CAGR of 7.0% during the forecast period of next ten years (2020 to 2030)
  • Passenger vehicles to continue leading the market among vehicle type-wise segments
  • The market value of the automobile semiconductors for the applications such as body, safety, power train and others to experience an overall growth by 7.0% CAGR during the forecast period
  • The automobile semiconductors for the micro-components (processors) to remain the dominant component of the global automobile semiconductor market. As per the research, the segment is about to gain an accelerated growth of 7.0 % CAGR during the forecast period (2020-2030)
  • Region-wise Europe and South East Asia to exhibit the highest growth. North America and Latin America to hold the leading market position

Digitally equipped automakers are adapting their mobile platforms for developing in-car entertainment and car platforms. Technology-based players have made collaborations with media-streaming devices and services manufacturers owing to aggressive capital investment and their core capabilities. Therefore, owing to digital connectivity such as vehicle-to-vehicle communication the automotive semiconductor market is expected to fuel up over the forecast period.” says an FMI analyst.

Covid-19 Impact Analysis

Due to the COVID-19 pandemic there is global decline in the automotive demands as a result of the manufacturing units’ shutdowns, drop in GDP and other factors. The market growth is to decline further in the upcoming months.

The electrical and digital vehicles being the major source of the automotive semiconductors demands, the global automotive semiconductor market is about to decline by 5% in 2020. Despite of the complete shutting down of the production plants during the lock down, the overall year-to-year growth of the automotive semiconductor market is expected to be 5%-8% by 2021.

Who is winning?

In this report, Future Market Insights has thoroughly researched the various strategies which are being used by major businesses in the automotive semiconductor market. As the unlimited scope and opportunities subsides, the leading market players like Intel Corporation, NVIDIA Corporation, Samsung Semiconductor etc. is taking strategic actions in order to keep them in the top positions globally.

Some of the leading competitors in the global automotive semiconductor market-

  • Intel Corporation
  • Samsung Semiconductors
  • NXP Semiconductors
  • NVIDIA Corporation
  • Broadcom Inc. (AVGO)

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More Valuable Insights on Automotive Semiconductor Market

In its latest report, Future Market Insights offers an unbiased analysis of the global automotive semiconductor market, providing historical data for period of 2015-2019 and forecast statistics for the period of 2020-2030. To understand the growth and opportunities in the automotive semiconductor market, the market is segmented on the basis of component (micro-component (processor), memory device, logic, optical and sensors, analog IC, discrete devices (power)), vehicle type (passenger, light commercial vehicle, heavy commercial vehicle), application (body, safety, telematics and infotainment, power train, chassis), end-use industry (automotive, electronics and others), across six major regions.

Smart Railways Market By Key Players, Competition Tracking, Applications & Forecast 2030

Adoption of Big Data and Internet of Things (IoT) in railways are expected to deliver smart travel and trade solutions in the coming decade. Equipped with real-time monitoring and schedule updates, end users are expected to benefit from efficient cargo movement with error-tracking. Unique elements such as wake up call for railway passengers, destination alerts, and passenger information management are projected to up the adoption of smart railways across nations as governments will strive for better security measures and efficient operations.

Future Market Insights recognizes the huge potential for the ICT industry to influence the global smart railways market with its existing strengths of cloud computing services and IoT.

For instance, Network Rail Telecom (NRT) in the U.K. is targeting IoT to enhance its own internal service capabilities. The company has partnered with giant vendors like Cisco Systems Inc. Thus, partnerships are expected to be the best way of companies to tap in developing markets to improve offerings.

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Liberalisation of rail transport is likely to create new growth opportunities for smart railways market players. Creation of open market conditions will have a positive impact on rolling stock, solution, and professional service providers of both freight and passenger transportation services.,” says the FMI analyst.

The market is also expected to thrive as government is projected to offer tremendous support to development of smart railways. For instance, in India, as per the proposed investment plan for the period of 2015 to 2019, information technology and research and development departments have received a funding of approximately US$ 753 Mn by the government. These funds were utilized for the integration of network-enabled train control systems and asset management applications to complement smart Indian railways.

Key Takeaways of Smart Railways Market Study

  • Methods of payment have evolved in the railway sector as traditional payment methods are replaced by smart cards and Point-of-Sale (POS) technologies
  • FDIs and PPP to generate and raise funds for infrastructural development in the railways, booting installation of smarter railroads
  • India to allow 100% FDIs in railways to improve its railroads, making Asia Pacific the fastest-growing region
  • Europe to lead global market for smart railways as private sector funds R&D across European Union

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Smart Railways to Gain Momentum as Safety becomes Imperative

As legacy infrastructure is being replaced by advanced technologies, the deployment of IoT across modern railroads will assume tremendous importance. Connected vehicles for machine-to-machine communication via cloud will ensure seamless movement between tracks and stations. Increasing focus on averting dangerous accidents such derailments are expected to up the demand for smart railways in emerging economies.

Future Market Insights predicts that smart railways will be in high demand in the coming years as they will allow categorization of faults across multiple assets and operators for preventive measures.

Competition Landscape of Smart Railways Market

Smart railways market leaders are ramping up their production capabilities and enhancing their sales channels in developing nations, such as India and Thailand. This strategy is projected to bolster their global footprints.

Companies like Hitachi, Ltd. are focusing on developing control systems locally using local technologies. Use of local resources helps such companies cut down on procurement and production costs, consequently increasing profits.

The primary strategy incorporated by key players is to enhance their attractiveness on a global level by collaborating with local and foreign governments to upgrade existing railway infrastructures. These partnerships involve governments awarding short-term and long-term contracts to manufacturers and service providers operating in the global smart railways market.

Market participants such as Ansaldo STS acknowledge the rising demand for innovative technologies in the smart railways market, and by making those technologies available in the market, these companies are attracting new customers. Some of these technological innovations include railway management systems with satellite connection and catenary free power supply.

More Valuable Insights on Smart Railways Market

FMI’s research on the smart railways market is segmented into three major segments. By device and component, the global smart railways market is segmented into rail sensors, video surveillance cameras, smart cards, and networking and connectivity devices like router, Wi-Fi, switches, among others. With respect to service, the global smart railways market is segregated into professional services, cloud services and integration services. With regards to system, the global smart railways market has been segmented into Railway Traffic Management System (RTMS), Smart Ticketing System (STS), Passenger Information System (PIS), Advanced Security Management System (ASMS), rail communication & networking systems, and rail operations management system, among others like rail analytics system and freight information system. The extensive segregation of the market helps readers evaluate lucrative opportunities in the global smart railways market

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Concealed Weapon Detection Systems Market By Key Players, Competition Tracking, Applications & Forecast 2030

The global concealed weapon detection systems market is estimated to record a value worth more than US$ 180 Mn by the end of 2020, and is estimated to cross the US$ 300 Mn mark by 2030.

A huge demand for concealed weapon detection systems is being observed in aviation industry, government sector, and commercial spaces such as educational institutes, banks, and shopping malls as public safety is threatened by anti-social groups. Accurate recognition and detection of concealed contraband and weapons can be done by terahertz body scanners to identify threats that are concealed underneath the clothes of a person or in bags.

Remarkable advancements with incorporation of sensors, imaging technology, and actuators has a created lucrative ground for sales of concealed weapon detection systems.

Configurable terahertz body scanning systems have been widely deployed on a global scale as security screening with concealed weapon detection at ports and borders is gaining pressing importance amidst growing political tensions.

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Rise of cross border terrorism and increasing number of terrorist outfits have given every government a reason to invest in the best and the most advanced concealed weapon detection technologies.

The aviation sector is expanding with an increase in the number of passengers across the globe, which demands efforts to keep pace with the growing travel dynamics. Adoption of security screening and concealed weapon detection technologies, such as terahertz body scanners with deep learning capabilities, at these venues is likely to boost the growth of the global concealed weapon detection systems market during the forecast period.

Key Takeaways from Global Concealed Weapon Detection Systems Market Study

  • Mobile concealed weapon detectors to surge at a CAGR of 8.8% between 2020 and 2030
  • Transportation infrastructure to remain the leading segment exhibiting a 2.1x growth during the forecast period
  • North America to hold a lion’s share of 41.8% in global concealed weapon detection systems market
  • Terahertz body scanners to remain bullish as technological advancements remain unparalleled
  • Increased product selling prices, amongst established players, to be seen as markets try to recover from COVID-19 pandemic

Integration of High Efficiency Sensing Solutions to Boost Adoption

Rising threats of terrorism targeted at public places for mass attacks have created an urgent need for modern, advanced concealed weapon detectors. Security screening combined with concealed weapon detection solutions are used to detect sly threats and contraband items without any physical interaction between security personnel and the person being screened.

Efficient security screening and weapon detection at high public throughput venues like courthouses, airports, museums, and prisons demands use of high efficiency sensing technologies. This demand for efficient concealed weapon detection is motivating companies to develop and integrate high speed sensors into security screening solutions.

Airports, railway stations, metro stations, national borders and tourist attractions, among other venues, are susceptible to illegal operations and terrorism, which can be tackled by incorporating autonomous and covert sensing resources. The integration of high quality, autonomous sensing equipment is expected to play a major role in propelling the growth of the global concealed weapon detection systems market during the forecast period.

Today, end users operating in BFSI, retail, and education industries are taking a more advanced approach to detect threats. Smart, portable concealed threat detection equipment is being adopted by these end users, which is estimated to offer lucrative opportunities for growth during the forecast period,” says the FMI analyst.

Competition Landscape of Concealed Weapon Detection Market

Concealed weapon detection systems market players are striving to generate new revenue streams by deploying concealed weapon detection systems for new end users operating in market sectors that the company does not usually cater to.

For instance, in August 2019, Smiths Detection Group Ltd. deployed customized X-ray systems with integrated auto-detection software that autonomously detects weapons and explosives, among other contraband. The solution was deployed for a simulated emergency preparedness drill legislated by Land Transport Authority and constituting rail operators at the HarbourFront Station in Singapore.

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Key market players are focusing on gaining technological expertise and enhancing their attractiveness in the concealed weapon detection market by acquiring and merging with other key participants in the global security screening technology market. This approach also enables the company to minimize competition on both regional as well as global levels.

For instance, In May 2020, Leidos completed the acquisition of the security detection and automation division of L3Harris Technologies, Inc. This acquisition helped Leidos strengthen its airport screening and critical infrastructure screening product portfolio, among other industrial automation products like automated tray returning systems.

Concealed Weapon Detection Systems Market: Segmentation

Product

  • Millimeter Wave Body Scanners
    • Active Millimeter Wave Body Scanners
    • Passive Millimeter Wave Body Scanners
  • X-ray Body Scanners
    • Backscatter X-ray Scanners
    • Transmission X-ray Scanners
  • Terahertz Body Scanners

Type

  • Stationary
  • Mobile

Application

  • Transportation Infrastructure
  • Correctional Facilities
  • Stadiums and Sports Arenas
  • Military and Defense
  • Others

More Valuable Insights on Concealed Weapon Detection Market

FMI’s research on the global concealed weapon detection systems market is segmented into three major segments. By product, the global concealed weapon detection systems market is segmented into millimeter wave body scanners, X-ray body scanners and terahertz body scanners. Millimeter wave body scanners are further segregated into active millimeter wave body scanners and passive millimeter wave body scanners, while X-ray body scanners are further segmented into backscatter X-ray scanners and transmission X-ray scanners.

With respect to type, the global concealed weapon detection systems market is segregated into stationary and mobile. With regards to application, the global concealed weapon detection systems market has been segmented into transportation infrastructure, correctional facilities, stadiums and sports arenas, and military and defense, among others. The extensive segregation of the market helps readers evaluate lucrative opportunities in the global concealed weapon detection systems market.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Data Virtualization Cloud Market By Key Players, Competition Tracking, Applications & Forecast 2030

COVID-19 pandemic has boosted adoption of cloud-based platforms among businesses and small and medium-sized enterprises. Insights from recent studies reveal that over a third (38%) of companies are changing their focus to hybrid cloud structures as core component of their existing cloud strategy.

Considering these factors, analysts at Future Market Insights (FMI) have forecast global adoption data virtualization cloud solutions to rise by 25.2% CAGR during 2020-2030.

Data Virtualization Cloud Market Size Study

  • Standalone software to remain preferable component in data visualization cloud market
  • Business intelligence tools to account for greater data consumption through 2030
  • Public cloud model continues to generate significant demand over following decade
  • Market players continue to view BFSI industry as target customer of data visualization cloud solutions
  • Markets in North America and Europe will remain in vanguard, given presence of key players and well-established cloud infrastructure

“Cloud-based models have become commonplace and companies are strategically leveraging them to upgrade their applications for data-driven architecture. With this maturity, digital transition and subsequent cloud adoption has become substantially manageable than ever before. Innovative trends are coming forth to support slew of use cases in hybrid and multi-cloud ecosystems,” says analyst at FMI.

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COVID-19 Impact on Data Virtualization Cloud Market

While the COVID-19 pandemic has exposed almost every industry to economic uncertainties, the global data virtualization cloud market has emerged in a position of strength from the pandemic.

With physical interaction no longer an acceptable form of communication in wake of social distancing measures, institutions and enterprises across the globe have implemented sudden shifts to digital solutions in order to mimic pre-crisis growth levels.

Companies from other industries are realizing the benefits and potential of cloud-based solutions, even ahead the immediate need for remote working triggered by COVID-19 pandemic. Many enterprises will kick start ramping up their digital transition efforts and invest heftily in cloud and IT resources in coming years.

As such, it appears highly unlikely that the public health crisis will affect bottom lines of players in data virtualization cloud market to significant degree.

Data Virtualization Cloud Market – Competitive Intelligence

Presence of technology giants such as Microsoft Corporation, IBM Corporation, and SAP has intensified competitive landscape of global data virtualization cloud market. In order to survive cut-throat competition, market players are bringing advancements in existing solutions as well as are offering them at flexible pricing. For instance,

  • Microsoft Corporation has developed Conduit, which is lightweight data virtualization solution that offers direct query to various data sources irrespective of their location though centralized security framework that allows de-centralized access while fulfiling five Cs – Combine, Connect, Collaborate, and Consume with Compliance.
  • Taking advantages of Google Cloud’s flexible rent-by-hour licensing format, Denodo has developed platform for Google Cloud Platform (GCP) that is available at broad array of pricing options including number of data sources. Denodo Platform for GCP provides features identical to the elite Denodo Platform. Furthermore, Denodo Platform can be deployed on GCP as bring your own license (BYOL).

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Want to Know More About Data Virtualization Cloud Market?

A new market research report published by Future Market Insights (FMI) on the global data virtualization cloud market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the data virtualization cloud market through five different segments – component, data consumer, deployment model, end-use industry, and region. The data virtualization cloud market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the development of data virtualization cloud and product adoption across several end-use industries.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.