Market Research Blog – Page 15949 – New Product Development

Wireless Charging ICs Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis And Share By Forecast 2031

ESOMAR-certified consulting firm Future Market Insights (FMI) has published a report on the global wireless charging ICs market, studying its growth trajectory for the forecast period between 2021 and 2031. As per the study, increasing adoption of wireless charging technology in automotive and consumer electronics industries will drive sales in the market.

The market will continue to exhibit remarkable growth through 2021 with worldwide revenue up by 15.8% year-over-year in 2021. FMI also projects the market to register growth at 16.7% CAGR, reaching US$ 9.7 Bn by 2031.

Growing sales of electric vehicles across emerging economies such as India, China, and Japan also will spur the sales of wireless charging ICs. Consumers’ preference for autonomous, connected, electric, and wireless vehicles will increase the application of wireless charging technology.

Key manufacturers are continuously upgrading their product portfolio through the integration of artificial intelligence (AI) and internet of thinking (IoT). Recent developments offers by market players are aimed at meeting the consistent demand for advanced technologies in automotive and consumer electronics industries.

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Subsequently, adoption of electric and autonomous-advanced home appliances such as electric toothbrush, earphones, notebooks, and smartphones will increase the sales during the forecast period.

“Demand for sensor and advanced technology to make consumer goods more efficient and smarter has compelled manufacturers to increase the adoption of cutting-edge technologies such as AI and IoT. This is expected to increase the competition in the market, while creating ample growth opportunities for players,“ says the Future Market Insights analyst.

Key Takeaways from Wireless Charging ICs Market Survey

In terms of product type, receivers will hold the leading market share, exhibiting growth at 17.6% CAGR
Over 48% of wireless charging ICs sales to come from medium power range segment
Based on application, consumer electronics application will hold largest market share, creating an incremental opportunity of US$ 3.9 Bn by 2031
The U.S.’s wireless charging ICs market is expected to be the most lucrative market, totalling US$ 330 Mn in 2021
Demand for wireless charging ICs in U.K. is expected to soar at 16.4% CAGR during the forecast period
Japan is expected to account for over 35.7% of global market sales of wireless charging ICs

Key Drivers

Growing adoption of wireless technology in consumer electronics devices will improve the demand
Rising sales of electric vehicles, especially across emerging economies, will spur the sales of wireless charging ICs
Increasing adoption of artificial intelligence to improve the efficiency of wireless charging devices will create conducive environment for key players, spurring sales
Increasing application of wireless technology in warehouse management and trucks charging will propel growth

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Key Restraints

Lack of proper infrastructure needed for dynamic charging will restrain the market growth
Declining demand for wireless chargers due to the outbreak of COVID-19 is expected to hamper sales
Preference for traditional charging technology and chargers, especially among baby boomers, is likely to impede growth of wireless charging ICs market

Competitive Landscape

As per Future Market Insights, NXP Semiconductors, Qualcomm Inc., Renesas Electronics Corporation, Analog Devices Inc., and Texas Instruments Inc. are identified as the top 5 players. Adoption of cutting-edge technologies such as artificial intelligence and internet of thinking to improve existing cyber security solutions is the new growth strategy of key players.

Key players are also focusing on expanding their product portfolio through adding innovative capabilities which will assist them in upgrading their existing products.

In January 2021, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced the launch of the world’s first 60W wireless power receiver, the P9418, to deliver faster wireless charging experiences for smartphones, laptops, and notebook devices in the industry’s highest power density solution.
Another leading player, Xiaomi, in January 2021, unveiled its “Mi Air Charge Technology”, which is able to wirelessly charge devices from across a room with 5W of power. This technology offers a ‘true wireless charging’ solution, with no cables or stands using spatial positioning and beamforming energy transmission.
In July 2019, Integrated Device Technology Inc. (IDT), subsidiary of Renesas Electronics Corporation, announced sampling of the P9415 receiver and P9247 transmitter that work together to enable smartphones to change wirelessly with up to 30W of power, narrowing the charging time gap between wireless and wired charging options.

Prominent players operating in wireless charging ICs market profiled by Future Market Insights include:

NXP Semiconductors
Renesas Electronics Corporation
ROHM CO., LTD.
Semiconductor Components Industries, LLC
Qualcomm Inc.
Texas Instruments
Analog Devices, Inc.
Vishay Intertechnology, Inc.
Toshiba Corporation
WiTricity Corporation
Powercast Corp
PLUGLESS POWER INC
Semtech Corporation
MediaTek Inc.
Others

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More Valuable Insights into Wireless Charging ICs Market

In its latest report, Future Market Insights offers comprehensive insights on the global wireless charging ICs market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study offers incisive coverage on the global wireless charging ICs market with an unbiased analysis, segmented on the basis of:

By Product:

Transmitters
Receivers

By Power Range:

Low (<15 Watt)
Medium (16-50 Watt)
High (>51 Watt)

By Application:

Automotive
Consumer Electronics
Healthcare
Others

By Region:

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

Key Questions Covered in the Wireless Charging ICs Market Report

The report offers detailed insights into wireless charging ICs demand outlook for 2021-2031
The market study also highlights projected sales growth for wireless charging ICs market between 2021 and 2031
Wireless charging ICs market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Wireless charging ICs market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

AI In Fraud Management Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

As per recent data released by Future Market Insights (FMI), the global AI in fraud management market is projected to reach US$ 39.5 Bn in 2031, exhibiting a remarkable 18% CAGR during the forecast period.

Rising incidence of data theft, phishing, and payment fraud is encouraging enterprises across the globe to invest in robust online security systems. This trend is translating into innovations and product developments in the global AI for fraud management market.

During the COVID-19 crisis, an alarming rise in cybercrimes across various industries has been observed. Increasing dependence on eCommerce and online payment methods resulted in high demand for fraud management systems and the trend is anticipated to continue over the assessment period.

Rapid technological developments and digital transformation across various sectors are providing tailwinds to sales of AI-powered fraud management software and services. AI systems can be programmed to detect theft, identify malware and protect sensitive data for enterprises, which in turn is spurring demand for sophisticated AI-powered services.

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In addition to this, increasing concerns regarding safety of public data in the banking, financial services, and insurance sector are propelling sales of AI in fraud management software and services. With government institutions, banks, and financial institutes tackling high amounts of data breach threats, the demand for AI in fraud management is projected to rise during the forecast period.

FMI estimates the U.S. to dominate the North American AI in fraud management market. Growth can be attributed to growing demand for efficient fraud management systems in sectors such as healthcare, education, banking, retail, and eCommerce.

“Increasing demand for operational accuracy in enterprises, coupled with the incorporation of technologies such as big data, machine learning and cloud computing in AI-powered services for cyber security will continue augmenting AI for fraud management market growth,” says FMI analyst.

Key Takeaways:

Based on software type, sales of AI-powered fraud prevention software are projected to remain high, accounting for 71% of the total market share.
Applications of identity theft protection are anticipated to grow at an impressive 19.8% CAGR during the assessment period.
Demand for AI in fraud management in large enterprises is estimated to rise at a steady pace, owing to increasing cases of data breaches and phishing.
AI in fraud management applications are projected to increase in the BFSI sector, accounting for 24% of the total market share in 2021.
The U.S. is estimated to hold 84% of the North American AI in fraud management market share.
The U.K. will emerge as an attractive market, with sales projected to rise at a prolific 20.7% CAGR during the assessment period.
The Chinese AI in fraud management market is projected to top US$ 521.0 Mn in 2021, due to increasing incidence of credit card fraud and mobile fraud.
AI in fraud management market in India is poised to expand at an impressive 28% CAGR, owing to government policies issued for online security.

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Prominent Drivers:

Product development and the introduction of AI-powered software and services will boost sales in the market.
Government regulations mandating the integration of cyber security software across various sectors will propel sales of AI in fraud management services and software.

Restraints:

Failure in software deployment and the complex nature of AI-powered solutions might hamper sales.

Competitive Landscape

As per FMI’s analysis, the global AI in fraud management market is steered by dominant players such as IBM Corporation, Capgemini SE, Cognizant, and Splunk, Inc. Leading players operating in the market are emphasizing on product developments and innovations to expand their product portfolios. For instance:

In December 2020, Cognizant announced the acquisition of UK-based Inawisdom, a privately held consultancy specializing in artificial intelligence, machine learning, and data analytics. Inawisdom provides cloud-native and full-stack solutions using an analytics and machine learning program built using Amazon Web Services (AWS).

Leading players operating in AI in Fraud Management Market profiled by FMI include:

IBM Corporation
Cognizant
Temenos AG
Capgemini SE
Subex Limited
JuicyScore
Hewlett Packard Enterprise
MaxMind, Inc.
BAE Systems plc
Pelican
SAS Institute Inc.
Splunk, Inc.
DataVisor, Inc.
Matellio Inc.
ACTICO GmbH

More Insights on FMI’s AI in Fraud Management Market

The latest market study on the AI in fraud management market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global AI in fraud management market potential, its growth, trends, and opportunities, the market is segmented on the basis of:

Solutions:

AI-powered Fraud Prevention Software
- Cloud-based
- On-Premises
Services
- Professional Services
  - Risk Assessment Services
  - Fraud & Risk Consulting
  - Integration & Implementation
  - Support & Maintenance
- Managed Services

Applications:

Identity Theft Protection
Payment Fraud Prevention
Anti-Money Laundering

Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

Industry:

BFSI
IT & Telecom
Healthcare
Government
Education
Retail & CPG
Media & Entertainment

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

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Key Questions Covered in AI in Fraud Management Market Report

The report offers detailed insights into AI in fraud management market demand outlook for 2021-2031
The market study also highlights projected sales growth for AI in fraud management market between 2021 and 2031
AI in fraud management market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
AI in fraud management market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

Unified Communication As A Service (UCaaS) Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

A recent market study published by Future Market Insights (FMI) on the unified communication as a service (UCaaS) market includes a global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.

The Unified Communication as a Service (UCaaS) market revenue totalled US$ 19.6 Bn in 2020, according to Future Market Insights (FMI) analysis. Rising at a CAGR of 14.5% between 2021 and 2031, the overall market is expected to reach US$ 85.7 Bn by 2031.

The demand for UCaaS solutions will accelerate with top 5 providers holding around 36.5% of total market in 2020.

Newly released data on the UCaaS demand outlook indicates 12.8% y-o-y growth in 2021. Among industry vertical, share held by BFSI sector will remain highest among all. However, the IT & telecom segment will grow at 18.1% CAGR through the assessment period.

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COVID-19 Impact Analysis on UCaaS Market

The outbreak of coronavirus (COVID-19) has created the need for organizations to adapt today’s fast-paced world where the business continuity is a must. The outbreak of COVID-19 pandemic is marking a rare occasion where business leaders globally have to quickly enable their workforces to work remotely for an extensive period of time.

Owing to this factor, organizations are incorporating remote work into their businesses where the communication and remote work policy holds the key to meet the expectation between management and workforce.

According to Future Market Insights, the COVID-19 pandemic is expected to accelerate the adoption of cloud computing not just as a technological shift, but also as an operating model as enterprises across the globe acknowledge limitations of their current situation.

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Key Takeaways: UCaaS Market

By solution segment, the integrated UCaaS platform/suite is anticipated to account for the leading share in the global UCaaS market during the forecast period. The segment estimated to grow at a robust CAGR of 17.3% through 2031.
The demand for UCaaS in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting UCaaS and cloud based solutions for better ROI.
Demand for UCaaS in IT & Telecom and BFSI sector is estimated to grow at an impressive CAGR. Of these, BFSI industry is expected to account for leading share in UCaaS market during the forecast period.
North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
The market in Japan is expected to progress at a CAGR of more than 17% through 2031.
In the U.K., sales are expected to increase at a CAGR of close to 18% over the next ten years.

“Increasing adoption of cloud-based communication and collaboration tools such as web conferencing, cloud storage, unified messaging and others, especially during lockdown imposed to contain the COVID-19 outbreak is creating opportunities for the UCaaS market. The demand will continue surging as more organizations roll out work from policies to ensure employee safety,” says FMI analyst.

Competitive Landscape

Intense competition and growing customer expectations are creating a storm in the global UCaaS market which is compelling solution providers to innovate and improve customer engagement. The accelerated shift by the customers to cloud communication is creating a demand for enhanced user productivity and flexibility and is creating the opportunities for advanced communications and collaboration tools.

For instance, in May 2021, 8×8, Inc. announced Experience Communications as a Service (XCaaS), a cloud communications deployment model that erases the boundary between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS). With XCaaS, organizations can support the communications requirements of all employees as they work together to deliver differentiated customer experiences.

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Some of the leading companies operating in the market are:

8×8 Inc.
Cisco Systems, Inc.
Google LLC
Microsoft Corporation
LogMeIn Inc.
RingCentral, Inc.
Mitel Networks Corporation
Fuze Inc.
Windstream Holdings, Inc.
ALE International
DIALPAD, INC.
Verizon Communications Inc.
NTT Communications Corporation
Vonage
Masergy Communications, Inc.
Avaya Inc.

Key Questions Answered

Which region is expected to showcase growth in UCaaS solutions?
South Asia & Pacific is projected to register strong growth in the global UCaaS market at a CAGR of above 19% during the forecast period. However, North America currently leads the global market, with market share of nearly 33% in 2021.
Which is the most attractive standalone solution in the UCaaS software?
Hosted IP Telephony/VoIP is currently the most attractive in the market, accounting for over 40% of revenue generated in 2020. However, collaboration platforms is expected to witness robust CAGR of over 17% throughout the forecast period.
Which are some of the leading companies offering UCaaS solutions?
Some of the leading companies in this landscape are Cisco Systems, Inc., Microsoft Corporation, Google LLC, Vonage, RingCentral, Inc., and Verizon Communications Inc. among others. As per FMI, nearly 60% of the market share is currently covered by the top 15 players.
Who are the leading industries of UCaaS?
BFSI sector is expected to dominate the market over the forecast period, generating revenue of US$ 23.8 Bn by 2031. However, IT & telecom sector is estimated to boost majorly with a CAGR of 18.1% over the forecast period.
How much is the global UCaaS demand worth?
The UCaaS industry was valued at ~US$ 19.6 Bn in 2020, and is estimated to grow at an exceptional pace with a CAGR of 14.5% to reach US$ 85.7 Bn in 2031.
What will be the demand outlook/ sales forecast for UCaaS?
The UCaaS sales is expected to be valued at ~US$ 22.2 Bn by the end of 2021, and is likely to reach ~US$ 85.7 Bn by 2031.
What was the last 5 year market CAGR?
The market in last 5 years (2016 – 2020) grew by a CAGR of 10.7%.

What are the key trends of UCaaS industry?
Key trends in the market includes:Focus on Training and Offering Advanced Solutions

Growing Popularity of Three-Dimensional Video Conferencing

Rising Demand for Remote Solutions to Boost Market Growth

What is driving demand of UCaaS?
The rising demand for cloud based communication, increase in mobile workers, and transformation and adoption of technologies such as AI, IoT, and analytics are the key factors driving the market growth.
Which countries are key providers of UCaaS market?
Countries involved in providing UCaaS solutions include the U.S., Canada, France, and Japan.
At what rate will the UCaaS adoption rise between 2020 and 2021?
The global UCaaS market is expected to register growth at 12.8% CAGR between 2020 and 2021.
What are the top 5 countries driving UCaaS demand?
Top 5 countries driving demand for UCaaS include the U.S., China, Germany, U.K., and ASEAN countries.
What is the North America UCaaS Market Outlook?
North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to account for more than 83% of the North America market through 2031.
How will the UCaaS Market Growth unfold in Europe?
The UCaaS industry in Europe is estimated to expand at a CAGR of 13.6% over the forecast period.
What is the key UCaaS market statistics in South Korea and Japan?
The UCaaS demand in Japan and South Korea was valued at US$ 1,197.0 Mn and US$ 754.8 Mn in 2020, respectively and is projected to register CAGR of 17.3% and 15.0% respectively between 2021 and 2031.

Business Analytics BPO Services Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

The global business analytics BPO services market revenue is forecast to register 12.6% year-on-year growth in 2021 backed by rapid advancements in telecom and IT industry. Future Market Insights (FMI) has forecast the market to surpass valuation of US$ 22.9 Bn at a compound annual growth rate (CAGR) of 13.9% by the end of 2031.

Organizations are emphasizing on optimizing their business operations by leveraging the potential of enterprise data generated through cloud based applications and social media networking. Effective utilization and transformation of the data will assist the enterprises in gaining more customers, improve market shares and lead to long term productivity.

Business analytic services are implemented to help organizations reduce their operational cost, improve business operations, and make informed business decisions on the basis of trends generated after analysis of discrete data.

Rise in outsourcing of analytic services is observed in recent years as companies aim at focusing on their core operations and optimize available resources. Outsourcing is forecast to increase in upcoming years as consolidation in business data is on the rise. The market players are investing in hiring and training programs to cater the rising demands.

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However COVID-19 pandemic had a negative impact on the market with small business taking the hardest hit. They are switching towards business analytics to restore their business continuity and manage their marketing and finances in these unprecedented times. These factors are expected to drive the sales of business analytics post COVID.

“Rising demand for business analytic services to manage and transform complex and high volume of enterprise data and use of machine learning across small and medium enterprises will remain a chief growth driver,” says the FMI analyst

Key Takeaways

The U.S. is predicted to account for around 86% of the North America market by 2031, supported by the presence of leading market players and increasing outsourcing to emerging countries from BFSI, retail, telecommunication and healthcare sector.
Business analytics BPO services market in India is forecast to grow at more than 26% CAGR over the forecast period backed by rapid industrialization and emergence of multiple start-ups in the country.
Rising digitalization in small and medium enterprises and incorporation of advanced technical solutions in business processes will drive the sales of business analytics BPO services in U.K. reaching the valuation of US$ 256.9 million by the end of 2021.
Increasing demand of business analytics BPO services by small and medium enterprises to acquire and retain customers will drive the market growth in upcoming years.
Demand for data analytics & visualization services are estimated to grow at a robust CAGR of 18.6% through 2031.
Increasing demand for analytics in financial sector will help the BSFI sector to register remarkable CAGR of 17.6% over the assessment period.

Competitive Landscape

IBM Corporation, Accenture, Wipro Limited, Capgemini, and Infosys Limited, among others are the leading market players operating this market. FMI states that, they account for more than 60% share in global business analytics BPO services market.

Market players are looking to enter new various developing economies by forming an alliance with regional distributors. They are also focusing on collaborating with regional players to promote innovation and product development along with solidifying their global distribution network.

For instance,

Wipro Ltd. recently joined hands with IBM Corporation to design and develop hybrid cloud computing system to assist business manage, migrate and transform mission-critical workloads and applications in IT environments.
Accenture PLC completed the acquisition of a data and machine learning business Mudano in February 2020. The acquisition allowed Accenture to upgrade its data transformation and analytics services for financial enterprises in the U.K.

Some of the leading companies operating in the business analytics BPO services market are:

IBM Corporation
Accenture
Wipro Limited
Capgemini
Infosys Limited
Tata Consultancy Services (TCS)
HCL Technologies
Cognizant
Tech Mahindra Limited
Genpact
WNS Global Services
EXL Service
Firstsource Solutions Limited
Concentrix
ScienceSoft

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More Insights on the Global Business Analytics BPO services Market

Future Market Insights, in its new offering, provides an unbiased analysis of the business analytics BPO services market, presenting historical demand data and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the business analytics BPO services market with a detailed segmentation on the basis of

By Services:

Data Analytics & Visualization Services
Risk Analytics Services
Marketing & Sales Analytics Services
Supply Chain Analytics Services
Financial Analytics Services
Others

By Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

By Industry:

BFSI
Manufacturing
Retail
IT & Telecom
Government
Healthcare
Travel & Hospitality
Others

By Region:

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

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Key Questions Covered in the Report

The market survey also highlights projected sales growth for business analytics BPO services market between 2021 and 2031
The report offers insight into business analytics BPO services demand outlook for 2021-2031
Business analytics BPO services market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Business analytics BPO services market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Real Time Store Monitoring Platform Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

The global real-time store monitoring (RTSM) platform market outlook remains positive with Future Market Insights projects it to surpass a valuation of US$ 1.09 Bn in 2021.

Increasing adoption of artificial intelligence and machine learning technologies for store management operations will remain a key growth driver. Growing adoption of digital technology to improve the workflow and facilitate the transformation of retail industry will fuel the demand over the coming years. With increasing preference of online shopping, industry players are adopting digital technologies and methods to understand the pattern of consumer behavior. To sustain competitive edge, end-users are adopting real-time store monitoring platforms. Against this backdrop, FMI forecasts exponential growth in demand for real time store monitoring services. According to the report, the segment will exhibit a stellar growth at a CAGR of 20.3% over the assessment period.

The market will exhibit stellar growth in response to the increasing demand for automation and digitalization of operations from small and large enterprises. As per the study, real-time store monitoring platform sales will continue rising at an impressive pace between 2021 and 2031.

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Following the outbreak of COVID-19, adoption of real-time store monitoring platforms has spurred as consumers continue shopping across e-commerce online platforms. Since the pandemic has directly impacted the retail industry, supply chains are witnessing sudden shift in consumer buying patterns. In order to keep pace with dynamic trends, companies have become heavily reliant on real-time store monitoring platform services and solution to understand consumer behavior and patterns.

Based on these aforementioned factors, the global real-time store monitoring platform market is projected to expand at an impressive CAGR of 17.7% through 2031.

“Incorporation of artificial intelligence and machine learning in real-time store monitoring platform solution and services will spur their sales. Increasing need to improve workflow and analyze consumer behavior within retail industry will encourage the investment in real time store monitoring platforms,” says the Future Market Insights analyst.

Key Takeaways from Real time Store Monitoring Platform Market Survey

In terms of application, campaign management will be the fastest growing segment, exhibiting growth at an impressive 20.3% CAGR
In terms of value, services segment will gain momentum owing to the growing demand from retail industry, expanding at 20.3%
Store merchandising analysis will hold the market share of over 32.5% during the assessment period
Large retail sector will contribute the largest revenue, accounting for over 76.7% of global market share
The U.S. will remain as one of the most attractive market, contributing for over 78.4% of market revenue through 2031
Demand for real-time store monitoring platform in the U.K. will rise at nearly 24.9% CAGR over the forecast period
Increasing investment in digital transformations and connectivity across China will spur the sales of real-time store monitoring platform solutions & services

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Key Drivers

Increasing need in various end-use sectors such as logistics, retail, and others to improve the work efficiency and security will drive the demand
Growing demand from retail stores and industry giants such as Amazon and others will improve the adoption
Incorporation of bug data science and internet of thinking will further push the adoption of real-time store monitoring platforms
Growing need for automated supply chain processes and faster access to inventory will drive the sales

Key Restraints

High cost installation and maintenance might hinder the real-time store monitoring platform market growth
Risk of data theft and privacy will inhibit the adoption of real-time store monitoring platforms
System incompatibility and lack of awareness regarding RTSM platform may hamper the demand

Competitive Landscape

Key players are focusing on alliances with other manufacturers to expand their existing product portfolios. Product innovation and strategic partnerships are the other core strategies adopted by key players to cement their dominance in the industry.

For instance, in May 2020, Stanley Healthcare merged with Cisco DNA Spaces as the first certified partner focused on healthcare, enabling hospitals to affordably deploy a wide range of real-time location system platform. Its first integrated and certified real-time location system, AeroScout, to offer enterprise-wide visibility into the location and assets in healthcare environments.

In February 2021, Capegemini, Sharp End, and the Drum Labs announced the collaboration with the opening of Cornershop, to offer curated services based on real-time data collected from deep real time monitoring systems and statistics.

Some of the leading players operating in the real time store monitoring platform market profiled by Future Market Insights are:

SAP SE
Capgemini SE
Cloudera, Inc.
Happiest Minds
RetailNext, Inc.
Bosch Sicherheitssysteme GmbH
ShopperTraK
QLogik Technologies, Inc.
SimpliField
Sisense Inc.
Xperion Kft.
Link Analytix
IntelliVision
Arm Limited
Manthan Software Services Pvt. Ltd.
Capillary Technologies
Others

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More Valuable Insights on Market

Future Market Insights provides an unbiased analysis of the real-time store monitoring platform market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global real-time store monitoring platform market with a detailed segmentation on the basis of:

By Solution:

Platform
Cloud-based
On-Premises
Services
Professional Services
Retail consulting & Advisory
Support & Maintenance
Implementation Services
Managed Services

By Application:

In-store Customer Behaviour Analysis
Campaign Management
Store Merchandising Analysis
Store Inventory Management
Shelf Management
Product Differentiation & Management
Others
Others

By End-Users:

Small & Mid-Sized Retailers
Large Retailers

By Region:

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

Key Questions Covered in the Real-time Store Monitoring Platform Market Report

The report offers detailed insights into real time store monitoring platform demand outlook for 2021-2031

The market study also highlights projected sales growth for real time store monitoring platform market between 2021 and 2031

Real time store monitoring platform market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Real time store monitoring platform market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Fiber Optic Gyroscope Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis And Share By Forecast 2031

The global fiber optic gyroscope market demand outlook remains positive, as FMI forecasts its valuation to surpass US$ 1,413 million by the end of 2021.

Owing to increasing application in military & defense and automotive industries, the market for fiber optic gyroscope is expected to grow at a CAGR of 8.3% over the forecast period 2021 to 2031 in comparison to CAGR 6.8% registered between 2016 and 2020.

Increasing usage of fiber optic gyroscopes for ground detection, missiles flight control, and dynamic GPS tracking in military applications will create growth opportunities. Coupled with this, the rising demand for better navigation and stabilization platforms in aerospace, battlefield, and undersea environments is estimated to drive growth at around 7.4% in the military and defense domain, as per a study by FMI.

The emergence of autonomous vehicles is one of the primary factors fueling the demand for fiber optic gyroscopes. According to KVH, the inertial measurement units (IMUs), which combines fiber optic gyroscopes with accelerometer components provide highly accurate acceleration data and angular rate to track the exact position of the car. This aspect has made the use of these gyroscopes indispensable while manufacturing autonomous vehicles, in turn, creating lucrative sales opportunities for the fiber optic gyroscope producers over the forecast period.

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“Fiber optic gyroscope market players are emphasizing on developing innovative products and technologies to cater to increasing demand for better electronic surveillance, RADAR systems, navigation, GPS, and air traffic control (ATC) across the globe,” says the FMI analyst.

Key Takeaways from Fiber Optic Gyroscope Market Study

In North America, the U.S. is expected to dominate the market, accounting for a market share of over 82% in the region through 2031.
Owing to increasing adoption of advanced technologies in defense sector, the market in the U.K. is estimated to grow at a CAGR of 12% over the forecast period.
India is likely to account for above 54% of the market share in South Asia and Pacific, growing at a CAGR of 13.5% by 2031.
Based on sensing axis, 3-Axis will emerge dominant, accounting for a market share of over 42.5% by the end of 2031.
Inertial navigation systems are anticipated to contribute a revenue share of around 44.5% in the global market through 2021.

Key Drivers

Increasing application in the military and defense sector is fueling the demand for fiber optic gyroscopes.
Surging demand for autonomous vehicles is spurring the sales of fiber optic gyroscopes.
Rising adoption of automation in industries and homes is driving the growth of the market.

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Key Restraints

Fragile nature of the fiber optic gyroscope is a factor impeding the growth of the market.
Repeated need to calibrate the fiber optic gyroscope is hampering the market demand.
Mitigation in the accuracy of fiber optic gyroscopes due to vibration is negatively affecting the sales of the product.

Competitive Landscape

Companies operating in the fiber optic gyroscope market are focusing on developing innovative products and forging strategic partnerships with other manufacturers to expand their production and increase the market share.

FIBERPRO, a South Korea-based company, launched its new Fiber Optics based Single Axis Gyroscope named, FI 150 in June 2020. The product is able to stabilize the specific attitude of a moving system which can be used in weapons systems, cameras, telescopes, and many more.
In June 2020, KVH industries, announced a launch of P-1775 Inertial Measurement Unit (IMU) featuring its new Inside Photonic Integrated Chip (PIC) technology. The technology that upgrades the inertial sensor performance and reliability for the growing autonomous market.

Some of the key players operating in the fiber optic gyroscope market profiled by FMI are:

KVH Industries, Inc.
EMCORE Corporation
FIBERPRO, Inc.
Saab
Honeywell
Tamagawa Seiki Co., Ltd.
Optolink
NedAero Components B.V
iXblue
Fizoptika
Safran
Cielo Inertial Solutions
Ericco International
Fibernetics LLC
Northrop Grumman Sperry Marine B.V.

More Insights on the Fiber Optic Gyroscope Market:

FMI provides an unbiased analysis of the fiber optic gyroscope market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global fiber optic gyroscope market with a detailed segmentation on the basis of:

By Sensing Axis:

1-Axis
2-Axis
3-Axis

By Device:

Fiber Optics Gyrocompass
Inertial Measurement Units (IMUs)
Inertial Navigation Systems
Others

By Application:

Aeronautics and Aviation
Robotics
Remotely Operated Vehicle Guidance
- Unmanned Underwater Vehicle (UUV)
- Unmanned Ground Vehicle (UGV)
- Unmanned Aerial Vehicle (UAV)

Military & Defense
Industrial
Others

By Region:

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

Key Questions Covered in the Report

The report offers insight into fiber optic gyroscope market demand outlook for 2021-2031
The market study also highlights projected sales growth for fiber optic gyroscope market between 2021 and 2031
Fiber optic gyroscope market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Fiber optic gyroscope market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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Key Questions Answered in Fiber Optic Gyroscope Industry Analysis

Which region is expected to showcase significant growth in fiber optic gyroscope industry research?
South Asia & Pacific is projected to grow at the highest CAGR of 12.7% during the forecast period, owing to rise in government investments in military and defense sectors.
Which sensing type is highly integrated in fiber optics gyroscope?
1-Axis sensing is the most attractive segment, with estimated market share of 42.8% in 2021. However, 3-Axis segment is estimated to grow CAGR of 10.2% during the forecast period.
Which are some of the leading companies offering fiber optics gyroscope?
The leading companies in this landscape are Honeywell, KVH Industries, and EMCORE Corporation. As per Future Market Insights analysis, 48% of the market share is currently covered by the top 3-5 players.
In which application areas, fiber optic gyroscope are highly used?
Military & defense application dominates the market, generating revenue of US$ 42.2 Mn by 2031, owing to increasing adoption of FOG systems in military aircrafts, guided munitions, and in submarines.
How much is the global market size of fiber optics gyroscope?
The fiber optic gyroscope market was valued at ~US$ 1,326.8 Mn in 2020, and is estimated to grow at 8.3% CAGR between 2021 and 2031.
What will be the demand outlook/ sales forecast for fiber optics gyroscope?
The market size of fiber optic gyroscope is expected to be valued at US$ $ 1,413.2 Mn by the end of 2021, and is likely to reach US$ 3,132.1 Mn by 2031.

Codeless Testing Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

The global codeless testing market outlook remains positive with the Future market Insights (FMI) projecting it to reach a valuation of US$ 1.5 billion by the end of 2021. Owing to the advent of artificial intelligence (AI) and machine learning the demand for codeless testing is estimated to grow at a robust CAGR of 15.5% during the forecast period 2021 to 2031.

Due to increasing usage of AI in the development of testing tools, which can self-heal at runtime, coupled with shift towards machine learning, self-healing automation testing is expected to emerge as one of the biggest automation testing trends over the coming years.

A number of companies operating in the market are launching their new products to cater to the increasing demand for these tools. For instance, Qualitest, an India-based software testing company, announced the launch of its new AI-powered software testing and quality assurance (QA) toolkit named, Qualisense in June 2020. The tool is expected to leverage machine learning to enhance testing and quality deliveries along with reducing the need for specific testing.

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A significant rise in demand for codeless testing is witnessed from small and medium enterprises (SMEs) owing to the increasing adoption of automated testing solutions. As per a study by FMI, the demand outlook for codeless testing solutions from SMEs is likely to surge at a CAGR of over 21% between 2021 and 2031.

“The unprecedented outbreak of novel coronavirus has encouraged leading vendors to emphasize on automating their IT operations to recuperate from the crisis. Besides this, numerous companies are anticipated to invest in artificial intelligence and robotic process automation (RPA), resulting in, bolstering the sales of codeless testing over the coming years,” says the FMI analyst.

codeless testing market key countries and industry mekko chart, 2021

Key Takeaways from Codeless Testing Market Study

In North America, the U.S. is leading the market and is estimated to account for a market share of over 79% in the region, owing to the presence of leading market players in the country.
Favored by high investment in information technology infrastructure, the demand outlook for codeless testing in the U.K. is likely to grow at a CAGR of 16% over the forecast period.
China is anticipated to account for over 44% of the codeless testing solutions sales in the East Asia market by the end of 2031.
Due to increasing adoption of cloud-based solutions, the market in India is projected to progress at a robust CAGR of 25% through 2031.
Based on the solution, codeless testing tools are dominating the segment, accounting for a market share of over 59.5% in 2021.

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Key Drivers

Increasing adoption of automated testing solutions is fueling the demand for codeless testing.
Rising investment in information technology infrastructure is driving the growth of the market.
Growing shift towards artificial intelligence is creating sales opportunities for codeless testing.

Key Restraints:

Lack of skills required for codeless testing is hampering the market growth.
Less scope for customization is a factor restraining the demand for codeless testing.

Competitive Landscape

Emerging players operating in the codeless testing market are focusing on developing innovative products and engaging in strategic partnerships & acquisition to increase their market revenue share. For instance,

Ranorex GmbH, an Austria-based company, announced the introduction of its latest version of Ranorex Studio 9.5 in March 2021
In March 2021, Tricentis, a software testing company announced acquisition of Neotys, a company based in France to expand its AI-driven end-to-end continuous testing platforms.

Key players operating in the codeless testing market profiled by FMI are:

Ranorex GmbH
Katalon, Inc.
Mabl Inc.
Usetrace
Perforce Software, Inc.
Cygnet-Infotech
Worksoft, Inc.
Testim
froglogic GmbH
Statnetics LLC
ACCELQ Inc.
QMetry Inc.
Micro Focus
Tricentis
Eggplant

More Insights on the Codeless Testing Market:

FMI provides an unbiased analysis of the codeless testing market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global codeless testing market with a detailed segmentation on the basis of:

By Solution:

Codeless Testing Tools
Services
- Testing & QA Services
- Consulting Services
- Integration & Implementation
- Support & Maintenance

By Application:

API Testing
Mobile App
Desktop App
Web App

By Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

By Industry:

IT & Telecom
BFSI
Retail
Healthcare
Government
Education
Manufacturing
Travel & Hospitality
Media & Entertainment
Others

By Region:

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

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Key Questions Covered in the Report

The report offers insight into codeless testing market demand outlook for 2021-2031
The market study also highlights projected sales growth for codeless testing market between 2021 and 2031
Codeless testing market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Codeless testing market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Acoustic Wave Filters Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis And Share By Forecast 2031

As per a study by FMI, the global acoustic wave filter market is expected to witness a growth at a CAGR of 10.6% during the forecast period 2021-2031. The market for acoustic wave filters is estimated to rise from US$ 8.9 billion to a valuation of US$ 24.5 billion by the end of 2031.

One of the prime factors driving growth is the increasing usage of smartphones and various electronic devices. Owing to the increasing smartphone penetration, the adoption of radio frequency (RF) filters namely, bulk acoustic wave (BAW) filter, has increased for protecting sensitive receiver paths in smartphones. This is in turn boosting the sales of acoustic wave filters.

The outbreak of novel coronavirus has severely impacted the market for acoustic wave filters. The pandemic has restricted connectivity and disrupted the supply chains amidst lockdown. As per a study by FMI, around 10% to 15% sales of the acoustic wave filters have dropped during Q1 and Q2 in 2020. Nonetheless, ease of lockdown and reopening of the industries is expected to drive the market.

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Lithium tantalite and lithium liobate are expected to lead the material segment, accounting for a valuation of US$ 6,127 million, according to FMI. Lithium niobate is likely to hold a market share of around 43.4% through 2021, making it a center point for the expansion of the market.

“Leading manufacturers in the market are aiming at product innovation to address the increasing demand for acoustic wave filter owing to progressive development and commercialization of 5G technologies,” says the FMI analyst.

Key Takeaways

Owing to increasing adoption of RF filter technologies by aviation customers, the U.S. is expected to hold a market share of over 89% in North America.
In Indonesia, the demand for acoustic wave filters is likely to rise at a CAGR of 15.3% over the forecast period.
China is estimated to emerge as a highly lucrative market, accounting for a value share of over 54% in the East Asia market.
By 2031, India is projected to hold a market share of nearly 54% in South Asia and Pacific, owing to rise in investments in the public transport infrastructure.
The telecommunications sector is dominating the segment and is estimated to register a maximum revenue share of over 33.5% by the end of 2021.

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Key Drivers

Increasing adoption of bulk acoustic wave (BAW) filters for wireless systems with boost the market growth.
Rising smartphone penetration will fuel the demand for acoustic wave filters.
Increasing usage of RF filter technology in RADAR systems, surveillance, electronic, navigation, and others will bolster the growth of the market.

Key Restraints

Volatility in the cost of raw material is a factor hampering the market growth for acoustic wave filters.
The COVID-19 pandemic has negatively impacted the growth of the market.

Competitive Landscape

Companies operating in the acoustic wave filters market are focusing on product innovation to expand their portfolio. Besides this, some key players are acquiring and establishing strategic partnerships with other market players to expand their manufacturing capabilities. For instance,

TDK and Qualcomm announced launch of a joint venture in February 2021. The joint venture will enable Qualcomm’s RFFE business unit to deliver fully integrated systems such as RF front-end (RFFE) modules for mobile devices and fast-growing business segments.
In March 2021, Resonant, the U.S. based company, announced an acquisition of GVR Trade SA (GVR). The acquisition will assist Resonant to expand its Enhanced ISN capabilities.

Some of the leading companies operating in the acoustic wave filters market profiled by FMI are:

KYOCERA Corporation
Murata Manufacturing Co., Ltd
Microchip Technologies
Skyworks Solutions, Inc.
Qualcomm Technologies, Inc.
Qorvo, Inc.
Tai-Saw Technology Co., Ltd.
Microsaw OY
API Technologies Corp
Crystek Corporation
Anatech Electronics, Inc.
Taiyo Yuden Co., Ltd.
Abracon
Broadcom

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More Insights on FMI’s Acoustic Wave Filters Market

The latest market study on global acoustic wave filters market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of

By Type:

SAW Filter
- RF SAW Filters
- IF SAW Filters
BAW Filter
- Solidly Mounted Resonator BAW Filters
- Film Bulk Acoustic Resonators

By Material:

Quartz
Lithium Niobate
Lithium Tantalate
Langasite
Others

By Application:

Consumer Electronics
Telecommunications
Automotive
Aerospace & Defense
Healthcare
Industrial
Others

By Region:

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

Key Questions Covered in the Acoustic Wave Filters Market Report

The report offers insight into acoustic wave filters demand outlook for 2021-2031
The market study also highlights projected sales growth for acoustic wave filters market between 2021 and 2031
Acoustic wave filters market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Acoustic wave filters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Access Control Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

The access control market revenue will total US$ 15.3 Bn for 2021, according to Future Market Insights (FMI) study. The overall market is expected to reach US$ 50.4 Bn by 2031, growing at a CAGR of 12.6% for 2021 – 2031. Newly released data on the access control demand outlook indicates a 10.8% y-o-y growth in 2021. In terms of system types, the market share of fingerprint and face recognition access control systems are the largest. However, the iris recognition access control systems will register faster growth at a 16.2% CAGR through the assessment period.

The adoption of access control systems in various industry verticals is expected to propel the market. Information and data security is becoming a top priority for industrial organizations to secure their information and other digital assets from threats. The latter goal largely depends on guaranteeing safety for visitors, plant managers, workers, and more. The growing necessity of integrated access control solutions to create secure environments across industrial areas that layer several technologies in conjunction with contingency plans for human and asset protection will drive demand.

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Therefore, access control is the ideal way to seamlessly fuse such solutions without compromising on productivity, safety, and security with greater efficiency. Several industrial organizations such as IT & telecom, healthcare, BFSI, and manufacturing, are adopting access management solutions to ensure the protection of resources.

The rapidly growing usage of mobile devices has shifted the focus of corporate sectors towards enterprise mobility practices. The major types of smartphone door access control systems include IP systems, control panel systems, and mobile access credentials.

The use of mobile-based credentials is the organic evolution from conventional physical security in the access control industry. Mobile credentials offer superior security and convenience. Smartphone access encompassed with cloud-based systems make such solutions an economical choice for long-term applications, although local systems only require one-time investments.

Key Takeaways from the Access Control Market Study

Iris recognition access control systems will witness the highest growth rate at over 16 percent, owing to investments into new biometric security solutions through 2031.
The healthcare sector is anticipated to capture the largest share of 19.8 percent in 2021, backed-up by security concerns in healthcare facilities associated with the use of EMR.
The U.S. will remain dominant in North America with an 84.5 percent share in 2021, supported by faster access to tech developments in end use verticals.
The market in Japan is expected to progress at a noteworthy CAGR of close to 17 percent through 2031, supported by a tech-driven economy.
In the U.K., sales are expected to increase at a CAGR of more than 15 percent over the next ten years, driven by favorable government investments and policies.

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“Access control systems have become a fundamental part of enterprise security departments for applications including the protection of perimeter and high-level data and assets,” said a report analyst. “Frequently changing sources of threats, mandatory compliance, and increased liability issues are the key elements fueling the demand for access control systems for enhancing security.”

Key Takeaways from Access Control Market Survey

North America is likely to remain one of the most attractive markets with the U.S. accounting for a market share of over 79% in the region by 2031.
The U.K. is expected to lead the European market with growing sales of access control solutions at a CAGR of over 15% through 2031.
Thanks to the rising government investments in infrastructural advancement, the demand for access control solutions in China is estimated to rise at a CARG of 12% over the forecast period.
With increasing terror threats in India, the demand for access control solutions in the country is expected to surpass a valuation of US$ 751 million by 2031.
Japan is anticipated to emerge as a highly lucrative market, demonstrating growth at a robust CAGR of 17% over the next ten years.

Key Drivers

Increasing awareness regarding cybercrime and security for data is fueling the demand for access control solutions.
Advent of digitalization is expected to create sales opportunities for access control solutions.
Ongoing technological development in access control solutions will bolster the growth of the market.
Growing shift from key-based to key-less access control is driving the growth of the market.

Competitive Landscape

Manufacturers operating in the access control market are emphasizing on optimizing their existing product and service portfolio. Some of the market players are focusing on receive approval for their product to expand their market share, For instance.

Honeywell the expanded the capabilities of its MAXPRO Cloud portfolio in Feb 2021, with the launch of its new products MPA1 and MPA2, access control panels that offer web, cloud-based and on-premise hosting options.
Nedap’s AEOS physical access control system received CPNI certification, which makes it suitable for the U.K.’s technical authority standards applications.

Some of the key players operating in the market profiled by FMI are:

Identiv
Honeywell International Inc.
NEC Corporation
Johnson Controls
Bosch Security and Safety Systems
Assa Abloy AB
Thales Group
STANLEY Convergent Security Solutions, Inc.
3M
Secom Co., Ltd
Dormakaba Holding AG
HID Global
Matrix Comsec Pvt. Ltd.
Paxton Access Ltd.
BioEnable Technologies Pvt Ltd.
Spectra Technovision (India) Pvt. Ltd.
ZKTeco India
Intellicon Private

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More Valuable Insights on Access Control Market

FMI, in its new report, offers an unbiased analysis of the global access control market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in access control market with detailed segmentation:

By Component:

Hardware
- Fingerprint Scanners
- Facial Recognition Devices
- Iris Scanners
- Smart Cards
- Others
Software
- Integrated Access Control Software
- Standalone Software/Middleware
- Facial Recognition Software
- Iris Recognition Software
- Others
Services
- Professional Services
  - System Integration & Installation
  - Security Consulting
  - Support & Maintenance
- Managed Services

By System Type:

Fingerprint Access Control Systems
Face Recognition Access Control Systems
Iris Recognition Access Control Systems
Card-Based Access Control Systems
Others

By Industry:

IT & Telecom
BFSI
Military & Defense
Manufacturing
Healthcare
Transportation & Logistics
Government
Education
Others

Key Questions Covered in the Report

The report offers insight into access control market demand outlook for the forecast period 2021-2031
The market study also highlights projected sales growth for access control market between 2021 and 2031
Access control market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Access control market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Radar & LiDAR Technology For Railways Application Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

The global Radar & LiDAR technology for railways application market is expected to grow at 9.6% CAGR between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI).

Radar & LiDAR technology is gaining traction in railway and transportation sector as a part of train protection and collision prevention system. Increasing demand for radar and LiDAR sensors in smart railway systems will inflate the market growth.

Recent developments in technology used to control train traffic, track train routing and scheduling, and detect on-track pedestrian will support the radar & LiDAR technology for railways application growth.

Increasing government investment towards designing autonomous railway system especially in emerging economies and surge in demand for radar sensors will emerge as market drivers. Some of the leading companies are launching advanced LiDAR systems to offer higher resolution and improved accuracy. These attributes are considered extremely critical for tracking railway speed.

Mobile LiDAR equipments are capable of high speed mapping of rail corridors with rate of 1.1 Mn per second. This equipment is installed on a vehicle or train locomotive. As the vehicle moves the LiDAR perfectly maps the tracks and surrounding area.

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Incorporation of mobile LiDAR equipment in railways infrastructure project planning and development, along with construction, operations, maintenance, safety, and asset management will accelerate the market growth.

“Companies operating in the market are launching advanced solutions to improve rail collision prevention mechanism. Their efforts will elevate the market demand,” says the FMI analyst

Key Takeaways

The global radar & LiDAR technology for railways application market is forecast to reach the valuation of US$ 4.98 Bn by the end of assessment period
The U.S. radar & LiDAR technology for railways application market is anticipated to grow at 10.4% CAGR throughout the forecast period. Increasing government funding towards improving productivity will aid overall expansion.
Rapid adoption of technology for producing digital railways system and increasing government initiatives towards developing high speed rail network will have positive influence on the U.K. radar & LiDAR technology for railways application market growth.
China has been working extensively towards developing its railway infrastructure. With increasing research and development initiatives undertaken for digitization of railway system, impressive growth is on card for the China radar & LiDAR technology for railways application market.
Integration of cloud based traffic planning solutions with railways and track management system will fuel the market growth during the upcoming years.
Increasing demand for safe protection system, reliable scheduling and tracking of trains along with their positioning has perpetuated the radar & LiDAR technology for railways application market demand.

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Competitive Landscape

According to the study by Future Market Insights, market leaders are employing various inorganic and organic marketing strategies to deepen their market penetration into emerging markets.

Growth strategies include new product development and product launches to strengthen their market position. They are also participating in strategic merger and acquisition to strengthen their footprint.

For instance,

A new LiDAR sensor was launched by Bosch in July 2020. The working of the sensor is to calculate the distance between target objects by illuminating them with laser light and measuring the reflected pulses. It is capable of detecting objects within 250m range and can recognize 24 objects simultaneously. It is incorporated in railways as a safety and monitoring system.
PPC-10G (70/80 GHz), a wireless radio was inspected by ELVA-1in October 2020 for train-to-ground connectivity. The system is developed to solve the problem of providing high-speed trains with a broadband Internet connection on straight sections of the railway.
Hupac Intermodal launched Train Radar, a device which provides real-time train running information in January 2020. It makes real-time tracking and accessing ETA information very comfortable. It gives fast and accurate information regarding the intermodal transport management.

Some of the leading companies operating in the market are:

Radarxense BV
Radar Vision
Earth Radar Pty Ltd
Bosch Mobility Solutions
Navtech Radar
ELVA-1
DEUTA-WERKE GmbH
Hupac Intermodal
BlackBerry Limited
Leica Geosystems AG
Trimble Inc.
RIEGL Laser Measurement Systems GMBH
SICK AG
Quantum Spatial
Velodyne Lidar
YellowScan
Phoenix LiDAR Systems
XenomatiX
IDS GeoRadar (Hexagon)

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More Insights on the Global Radar & LiDAR technology for railways application Market

Future Market Insights, in its new offering, provides an unbiased analysis of the radar & LiDAR technology for railways application market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the radar & LiDAR technology for railways application market with a detailed segmentation on the basis of various parameters. These include:

Radar Technology
- Radar Sensor Modules
  - Speed Measurement Radar Sensors
  - Distance Measurement Radar Sensors
- Service
  - Integration & Installation Services
  - Support Services
LiDAR Technology
- Devices
  - Mobile LiDAR Scanners
  - Aerial LiDAR Drones
  - On-board LiDAR Sensors
- LiDAR Processing & Mapping Software
- Services
  - LiDAR Survey & Mapping Services
  - Consulting Services
  - Support Services

Application

Railway Track Faults Detection
Rail Collision
Pedestrian Detection
Train Tracking & Control

Region

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

Key Questions Covered in the Report

How will the market radar & LiDAR technology for railways application expand through 2031?
Which top manufacturing companies are leading the global radar & LiDAR technology for railways application market?
What are the key drivers and trends that will stimulate the radar & LiDAR technology for railways application sales?
What are the challenges that will affect the sales of radar & LiDAR technology for railways application market?
Which region will remain the most lucrative throughout the forecast period?
What is the impact of COVID-19 on radar & LiDAR technology for railways application market?