Neuromorphic Chip Market Type And Application, Forecast Analysis

As per the Transparency Market Research, the neuromorphic chips market is projected to expand at a healthy CAGR of 19.1% during the forecast period between 2015 and 2023. Thus, rising at this growth rate is has been estimated that the valuation of the market will reach US$1.801 bn by the end of 2023.

Application of neuromorphic chip is seen in various sectors in which the defense and aerospace sector is leading due to the intensive integration of neuromorphic chip in this sector. In addition, to increase the power of the internet of Things these chips play an important role, which in turn benefits the market growth. On the regional front, North America is leading the market and is projected to continue its dominance in the forthcoming years. The region is leading as it encourages technological advancements in terms of product innovation.

Increasing Adoption of Automation to Expand Growth Opportunities for Neuromorphic Chip Market

The growth of the neuromorphic chips market is due to its rising application in various sectors such as defense and aerospace, Internet of things, and many others. The rising automation in various sectors is also opening new opportunities for the growth of this market. In addition to that, optimum usage of memory, higher speed, and less power consumption are other growth factors asserting market growth. Another growth factor is the increasing demand for brain-like computing across various industry verticals, which is likely to expand the demand for neuromorphic chips in the near future.

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Lack of Investments to Limit Growth of Neuromorphic Chip Market

Despite the growing application of neuromorphic chips, there are certain restraining factors that might hamper the growth of this market. Limited investment in the industry and lack of focus in research and development activities are factors that are likely to obstruct the market from growing at its full potential. The design of these chips is complex due to software complexity and complex algorithms in the neural processing units, thus, impeding the market growth. Moreover, one of the big challenges is the limited capacity of memory, which can be incorporated in these chips. However, with the growing technological advancements, these complexities are expected to reduce in the coming years and assist the market to grow at its full potential.

The information presented in this review is based on a TMR report, titled “Neuromorphic Chip Market (By Function - Signal Processing, Data Processing, Image Recognition and Others, By Application - Defense and Aerospace, Automotive, Medical, Industrial and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

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GaN Industrial Devices Market Growth And Key Manufacturers Analysis

Blossoming economy in developing countries and the development of next-gen hybrid electric vehicles and electric vehicles hold immense opportunities for the development of the GaN industrial devices market. However, high cost of pure gallium nitride is anticipated to restrict its growth in the coming years.

Based on type, the GaN industrial devices market is bifurcated into opto electronics and power devices. Opto electronics comprises laser diodes and light-emitting diodes and this segment held a 78.0% share in the overall market in 2014. Power devices are further broken down into metal oxide semiconductor field effect transistor (MOSFETs), Schottky diode, high electron mobility transistors (HEMTs), and others.

The key applications of GaN HEMTs are wireless phone infrastructure: base stations, V-SAT, defense, WiMAX/LTE, CATV, satellite, and others. Fueled by the increasing number of base transceiver station installations, base stations held the largest share of 26.0% in the overall market in 2014.

Based on application, the GaN industrial devices market is segmented into radiofrequency (RF), power device, and light-emitting diodes (LED). Driven by large-scale usage of GaN industrial devices in traffic signal lamps, vehicle lamps, and liquid crystal lamps, LED emerged as the leader in terms of both value and volume. The LED segment accounted for 68.0% of the market in terms of value and 82.50% in terms of volume in 2014.

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Based on geography, the global GaN industrial devices market is divided into five key regions: Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Accounting for a share of 31.10% in the overall GaN industrial devices market in 2014, North America emerged as the leader driven by high penetration of GaN-based transistors in military and defense applications and the growing demand for LEDs in computers, tablets, laptops, gaming devices, and televisions. Europe was a close second with a market share of 28.90% in 2014.

The most prominent players operating in the global GaN industrial devices market include RF Micro Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Texas Instruments Inc., NXP Semiconductors N.V., International Rectifier, Freescale Semiconductor Inc., International Quantum Epitaxy plc., GaN Systems Inc., Nichia Corporation, Toshiba Corporation, Efficient Power Conversion Corporation, and Cree Inc. These players have been profiled in the GaN industrial devices market based on company and financial overview, business strategies, and recent developments.

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Wearable Technology Market Technology Trends With Business Analysis

Wearable technology is, primarily, an electronic items incorporated with certain kind of technology. The technology can be easily worn on body to track real-time information. Wearable technology implies wristbands that can be worn on wrist and helps track information such as pulse, heart rate, steps walked, sleep hours, and many other. Wristbands launched by Jawbone, Apple, Fitbit, and many other acts as activity trackers. This has gained significant customer base across the globe. The significant customer base is attributed to shift in fitness brought by wearable technology. For instance, as per report given by Fitbit, the company sold around 14 million units of its smart fitness wristbands.

Further, research and development in the field of wearable technology has resulted in innovations and new product categories. Ear-wearable and smart clothing are few examples of innovations. These products are incorporated with high-end technology. Lately, the companies are focussing on refining the design of the products to attract customers.

Even though wearable technology market is at its nascent stage, the niche segments are anticipated to have perspective for long term. In addition, changing lifestyles of consumer and shift towards fitness are providing lucrative growth opportunities for wearable technology market. Further, application of wearable device for security and healthcare are likely to drive market growth over the forecast period.

The upcoming report on dried spices market provides insights about various factors affecting growth of the market during forecast period (2019-2029). The market intelligence report also provides details about restraining factors that are likely to interfere with growth of dried spices market.

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Wearable Technology Market: Notable Developments

Integration of Internet of Things (IoT) with wearable technology is an emerging trend and yet to gain customer traction due to limited interoperability.

Once integrated, the market is likely to grow at a substantial rate in forthcoming years.

Some of the prominent players in the market are-

• Apple
• Sony
• Samsung
• Fitbit
• Mi

Wearable Technology Market: Key Trends

Owing to increasing urbanization, demand for aesthetically appealing and advanced feature wearable technology is also rising. People are opting for devices which can serve daily requirements as well as track real time information. As a result, demand for smart watches is rising across the globe.

Considering the rising demand from millennial consumers, the companies are focusing on development of products which can also work hour tracking and maintain the luxury standards of the user.

In 2018, Fossil Group introduced seven next-generation smartwatches. The product provides aesthetic design for Indian millennial along with enhanced technological feature on the wrist.

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Wearable Technology Market: Regional Analysis

North America is considered as hub technological advancements across the world. With introduction of smart gadgets, demand for sophisticated and multi-functional device is rising. Rising disposable income and high adoption rate of latest wearable devices are key driving factors for the market in the region. Further, presence of prominent players such as Garmin, Apple, and Fitbit are adding to growth of the wearable technology market in the region.

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Outdoor LED Displays Market Opportunities And Trends 2027

Outdoor LED displays are utilized in offering improved view of various events such as exhibitions, sports events, live concerts, and many others. This factor is playing an important role in the increased adoption of LED displays in several countries across the globe for purposes like sports and advertising. This is likely to drive the global outdoor LED displays market over the years of projection.

Outdoor LED displays come with several advanced features, which are likely to escalate the demand for the product. These features are prolonged life, high-energy efficiency, and low operational price. Several LED companies offer end-to-end service to their clients such as displaying on site and installation. Furthermore, increased utilization of these platforms for fostering the promotional behaviors of several corporate brands are likely to trigger development of the global outdoor LED displays market. Video walls and advertising boards are used for such brand promotions.

Type, application, and region are displays market the three key parameters based on which the global outdoor LED displays market has been segmented for a detailed discussion. The sole purpose of such segmentation is to offer a clearer, precise, 360-degree view of the market.

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Global Outdoor LED displays market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global outdoor LED displays market is mentioned below:

• In February 2020, North America-based NEC Display Solutions is a prominent provider of digital signage solutions. The company made an announcement of an update regarding its Q series of dvLED (direct view LED) display lineup. This new display solution comes with an extended lifespan and high quality images. The improvement in the quality of image indicates at higher rate of refresh and more colors that are displayable. This upgradation is likely to increase the market share of the company in near future.

The global outdoor LED display market is highly competitive and driven by latest technologies. Some well-known organizations in the global outdoor LED displays market include the below-mentioned:

• Sony Corporation
• LG Electronics, Inc.
• Data Display Co., Ltd.
• Panasonic Corporation
• Toshiba Corporation
• Buchi Labortechnik AG

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Global Outdoor LED displays market: Key Trends

The global outdoor LED displays market is likely to observe following drivers, opportunities, and restraints over the assessment period, from 2019 to 2027.

Augmented Spend on Promotional Activities to Shape Contours of the Market

Augmented demand for outdoor LED displays for the purpose of broadcasting advertisements and live actions have increased over the years, which is positively affect the global outdoor LED displays market over the years of projection.

In the last couple of years, a rising number of sports and musical events are being aired in open spaces. In addition, development of sports arenas and open air venues is likely to shoot up the demand for the product in near future. A surge in the brand endorsement and promotion activities together with colossal rise in the development of new products is likely to play an important role in the development of the global outdoor LED displays market.

In addition to that, the prominent sports companies in the market are making hefty investments in the promotion of their products through outdoor LED displays. These increased promotional activities are estimated to draw attention of a large number of consumers toward sports products. As such, the demands for outdoor LED displays are expected to rise. In addition, a huge rise in the number of various sports events, such as IPL, FIFA World Cup, UEFA Europa League, Olympics, and many other events are likely open up new avenues of revenue generation for the global outdoor LED displays market in the years to come.

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Programmable Logic Controller (PLC) Market Companies With Size, Regions, Trends

Programmable Logic Controller (PLC) technology is not recent in the industry, and is still in usage at a great extent by manufacturing companies. Programmable Logic Controller smoothens the mechanical automation process in manufacturing units and construction buildings. Due to its dynamic development, sequential control, counters and timers, ease of programming, reliable controlling capabilities, and ease of hardware usage; Programmable Logic Controllers are also utilized in various control system areas.

Market Overview:

Programmable Logic Controllers (PLC) in industrial automation supports machine movement on an assembly line. Programmable Logic Controllers has been an integral part of automation and control systems across many industries, and is expected to remain the same even with the advent of new technologies such as Process Automation Controllers (PACs) and other advanced computer-based controls. Programmable Logic Controllers are significantly applied in industries, and helps in eliminating hard wiring associated with conventional relay control circuits, enhancing the productivity. Constant emphasis on product innovation in industrial automation has linked the gap between functional capabilities of discrete control system and Programmable Logic Controller (PLC).

Market Dynamics:

One of the major factors for growth in this market is the end-user. Most of the maintenance or automation technicians do not have appropriate know how of scripted languages and are comfortable with using Programmable Logic Controllers.  Process Control PLC market is anticipated to witness constant growth over the estimated period. As the popularity and growing need of modified or customized Programmable Logic Controllers surge, the market will grow considerably. Modified Programmable Logic Controls provide solutions for process complexity, space limitation, and demanding industrial environment, along with stability, reliability, and interoperability.

Conversely, rising prices of Programmable Logic Controls (PLC), and lack of skilled personnel for advanced Programmable Logic Controllers; are the major restraints to the market growth during the forecast period.

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Development of customized PLCs for application in various industries, represent significant opportunity for the PLC manufacturers.

Market Segment:

Programmable Logic Controls (PLC) market is segmented on the basis of product type, end user industries, and regions.

On the basis of product type, Programmable Logic Controls (PLC) market is segmented into Unitary PLCs, Modular PLCs, and Rack mount PLCs. Unitary Programmable Logic Controls segment, due to its cost-effectiveness, small size, and less downtime; has been considered as the major PLC segment.

On the basis of end user, Programmable Logic Controls (PLC) market is segmented into Process Industry, Discrete Industry, and Building Automation. Process industry segment has dominated the global Programmable Logic Controls (PLC) market, and is expected to continue the same during the projected period.

On the basis of application, the Programmable Logic Controls (PLC) market is segmented into Automotive, Paper & Pulp, Water & Waste Water Treatment, Chemical & Petrochemical, Food & Beverages, Energy & Utilities, Oil & Gas, Pharmaceutical, and others.

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On the basis of geographical regions, the Programmable Logic Controls (PLC) market is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, and Middle East and Africa. MEA has dominated the Programmable Logic Controls (PLC) market and is expected to continue to manage its position in the forecast period as well. European region is highly dependent on automotive industry and is predicted to make heavy investments, which will boost the market for Programmable Logic Controllers and create various growth opportunities for wholesalers in the region.

Key Market Players:

Some of the key players in the global Process Control PLC Market are Rockwell Automation, OMRON, Panasonic, Toshiba, Mitsubishi Electric, Delta Electronics, Siemens, Schneider Electric, Honeywell, ABB, Beckhoff Automation, Hitachi, Electronics and Yokogawa, KEYENCEK, Fuji Electric, IDEC, Bosch Rexroth, Eaton, and GE.

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Transportation Management Systems Market to Grow at Robust CAGR in the COVID-19 Lockdown Scenario

According to a new market report published by Transparency Market Research the global market for transportation management systems, which stood at US$ 12,249.9 Mn in 2018, is anticipated to expand at a healthy CAGR of 14.3% during the period from 2020 to 2030, increasing the opportunity in this market to US$ 59,748.5 Mn by the end of the forecast period. The transportation and logistics application segment has emerged as the key end user of transportation management systems and is expected to retain its position over the next few years.

Growing Popularity of Software-As-A-Service Based TMS Solutions are driving the global transportation management systems market:

“Increasing use of cloud computing technologies for managing supply chain activities is one of the major trends prevailing in the transportation management systems market across the globe,” says the author of this report. Fast and easy deployment, limited capital expense, and better total cost of ownership as compared to on-premise software delivery model are driving end-users towards cloud-based TMS solutions. The growing popularity of software-as-a-service (SaaS)-based TMS solutions is the major factor driving the TMS sales growth. Growing preference for SaaS-based TMS solutions among logistics and transport companies is due to the benefits offered such as easy and quick installation and low total cost of ownership.

Other factors including growth in the intermodal transport and growing need to replace traditional and aging transportation management solutions is expected to support the demand for advanced transportation management systems, fueling the market momentum. However, lack of awareness regarding benefits associated with advanced TMS capabilities among end-users has hampered the growth of the TMS market. Advancements in the cloud computing and integration of Radio Frequency Identification (RFID) technology in transportation management solutions is offering lucrative opportunity for the growth of the global transportation management systems market over the forecast period from 2020 to 2030.

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Transportation Management Systems market: Scope of the Report

In terms of geography, the research report categorizes the global market for transportation management systems into North America, Europe, Asia Pacific, the Middle East and Africa and South America. Additionally, the report presents an exhaustive analysis of the global transportation management systems market, based on the performance of the regional markets. Among all the regions, the major share in this market was acquired by North America and Europe. Factors such as gradually improving economic conditions, increasing desire of shippers to ensure supply chain visibility, supply chain optimization, and continual advancements in software are collectively driving the transportation management systems market across the globe.

North America was the largest regional market for transportation management systems, and the growth in this region is driven by increasing demand for cloud-based on-demand TMS software solutions. However, Asia Pacific is expected to witness maximum growth over the forecast period on account of favorable trade environment and growth in intermodal transport in the region.  Countries in this region, such as China, India, and Japan are expected to offer lucrative growth opportunities to the growth of the TMS market, largely due to expansion in the logistics network, supported by the favorable trade environment in the region. Thus, growth in the logistics network and the growing need to ensure operational efficiency and supply chain visibility is expected to trigger the adoption of TMS solutions in the region.

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Smart Airport Market to Make Great Impact in near Future by 2019-2027

According to a new market report titled Smart Airport Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’ published by Transparency Market Research rise in demand for automated and self-service processes and increasing number of air passengers leading to high airport traffic are the major factors driving the smart airports market. Globally, the smart airports market is anticipated to expand at a CAGR of 13.0% during the forecast period from 2019 to 2027.

Smart Airport Market: Scope of the Report

The global smart airport market can be segmented –based on infrastructure, application, solutions and services. Based on infrastructure, the market can be classified into endpoint devices, communication systems, passenger, cargo and baggage handling, air traffic control systems, security systems, and others. The security system segment is anticipated to dominate the market in terms of investment during the forecast period. The expansion of the security systems segment is likely to be driven by rising demand for biometric devices by airports for the identification and checking process. Based on solution, the market can be segmented into terminal side, airside, and landside.

The expansion of the terminal side segment is expected to be driven by rising demand for digital video surveillance and management solutions by airports to enhance the security and productivity of the workplace. In terms of application, the market can be split into core and business application segments. Based on service, the smart airport services market can be classified into smart transport and parking, smart retail, hospitality, and entertainment, smart workplace, smart airport processes, and smart business-to-business services. The smart airport processes segment is expected to expand owing to high demand for location-based, terminal-side, and landside services. Moreover, the rise in penetration of smartphones and tablets is playing a major role in changing the outlook of smart airports. Effective customer service differentiation and cost reduction are the two main benefits provided by the presence of mobile check-in facilities.

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Rise in Demand for Automated and Self-service Processes is driving the Global Smart Airports Market

Demand for automated and self-service processes is on the rise due to increasing number of passengers at airports and the rise in need for effectively managing airport operations. This is, in turn, driving the requirement for upgraded solutions that would ease and allow automation of the processes at airports. A majority of airports are now focusing on self-service solutions and adopting new technologies such as robotics kiosk, facial recognition, automated passport control, and others to manage airport operations effectively. Companies are also introducing advanced technology solutions and systems in the market and are investing heavily in digital technologies and IT to provide value added services to customers. Rising demand for various technologically-advanced communication systems, non-aeronautical systems, and security systems is anticipated to boost the market over the forecast period.

Global Smart Airport Market: Competitive Dynamics

The research study includes profiles of leading companies operating in the global smart airport market. Some of the key players in the smart airport market are SITA, Amadeus IT Group SA, IBM Corporation, Vision-Box, Siemens AG, Honeywell International, Inc., CISCO System, Inc., Thales Group, ESA, S.A.S., and Lufthansa Systems GmbH & Co. KG. Business strategies being adopted by the market leaders are largely focused on business expansion by offering cost-effective ICT infrastructure to midsized airports including smart connectivity and improving airport experience, and enhancing the product and service offerings through R&D. Leading players are currently focusing on integrating products to create a new customer base. As a part of this strategy, companies are engaging in various strategic partnerships and acquisitions.

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